Document:

EX-10.2

 Exhibit 10.2 

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such
excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 
 STANDARD
BUSINESS PARK LEASE - MULTI-TENANT 
 Tenant
Specific Terms 
 THIS LEASE is entered into by and between LANDLORD and TENANT, and is dated for reference purposes only as provided in the following
Basic Lease Information. The General Terms of this LEASE, and any exhibits or addenda thereto, are hereby incorporated by this reference and made a material part of this agreement. LANDLORD and TENANT agree as follows: 

ARTICLE 1: BASIC LEASE TERMS AND INFORMATION 
 1.1.
Basic Lease Information. In addition to the terms that are defined elsewhere in the Tenant Specific Terms and/or the General Terms (together called the “LEASE”) of this LEASE, the following terms are used and defined in this
LEASE as follows: 
  

					
	a.	 	PROJECT:	  	Saddleback Business Park I & II
			
	b.	 	LEASE DATE:	  	[***]
			
	c.	 	LANDLORD:	  	Laguna Cabot Road Business Park, LP
		 	Address (For Notices):	  	26072 Merit Circle, Suite 116, Laguna Hills, CA 92653
			
		 	Fax No. (For Notices):	  	
			
	d.	 	TENANT:	  	Sonendo, Inc., a Delaware corporation
		 	Address (For Notices):	  	26061 Merit Circle, Suite 102
		 		  	Laguna Niguel, CA 92677
			
		 	PREMISES:	  	26061 Merit Circle, Suite 102 [***]
		 		  	Laguna Hills, CA 92653
		 		  	(located in the city of Mission Viejo)

 e. TENANT’S USE: General office for a medical device research and development company, and
for no other purposes whatsoever without obtaining the prior written consent from Landlord. 
 f. PREMISES AREA: The rentable area of
the Leased Premises is approximately 16,128 square feet. Unless otherwise provided herein, any statement of square footage set forth in this LEASE, or that may have been used in calculating rental and/or common area maintenance or other expenses
payable by TENANT, is only an approximation which LANDLORD and TENANT agree is reasonable, and the rental and any other charges, if any, based thereon are not subject to revision whether or not the actual square footage is more or less. 

g. PARKING: TENANT’s share of unreserved parking spaces (“Parking Spaces”) shall not exceed three (3) spaces per
1,000 square feet of Leased Premises area, as further provided in Article 25 of General Terms of this LEASE. 
  

  
 1 

 h. TERM OF LEASE: This LEASE shall be for a term [***] commencing on the
Commencement Date and expiring on the Expiration Date. 
  

					
	i.	  	COMMENCEMENT DATE:	  	[***]
			
	j.	  	EXPIRATION DATE:	  	March 31, 2025
			
	k.	  	SECURITY DEPOSIT:	  	$25,850.08
			
	l.	  	MONTHLY BASE RENT:	  	
		  	June 1,2020 - May 31,2021:	  	$23,224.32 per Month
		  	June 1,2021 - May 31,2022:	  	$24,030.72 per Month
		  	June 1, 2022 - May 31, 2023:	  	$24,837.12 per Month
		  	June 1, 2023 - May 31, 2024:	  	$25,643.52 per Month
		  	June 1, 2024 - March 31, 2025	  	$26,449.92 per Month
	m.	  	CAM CHARGE:	  	$2,419.20 per Month
			
	n.	  	NAME OF GUARANTOR(S):	  	None.
			
	o.	  	REPRESENTATION:	  	
		  	Landlord’s Broker:	  	Davis Property Management, Inc.
		  	Tenant’s Broker:	  	(CalBRE #02051452) CBRE, Scott Kenny and Carter Haslam
		  		  	(CalDRE #01330187 and CalDRE #01953674)

 ARTICLE 2: OTHER TERMS AND 176CONDITIONS 

 

					
	2.1.	  	OPTION TO RENEW.	  	See Addendum
			
	2.2.	  	OPTION TO TERMINATE.	  	N/A
			
	2.3.	  	TENANT IMPROVEMENTS.	  	See Exhibit C.
			
	2.4.	  	FREE RENT.	  	N/A

 ARTICLE 3: ATTACHMENTS AND EXHIBITS 

3.1. ADDENDUM. Additional sections of this Lease numbered 1 through 4 is attached hereto and made a part hereof. 

3.2. EXHIBITS. The following exhibits are attached hereto and made a part hereof. 

 

			
	Exhibit A	  	Site Plan
	Exhibit B	  	Addendum
	Exhibit C	  	Tenant Improvement Diagram or Description
	Exhibit D	  	Rules and Regulations
	Exhibit E	  	Sign Regulations
	Exhibit F	  	Floor Plan Property
	Exhibit G	  	Agency Disclosure

 STANDARD BUSINESS PARK LEASE - MULTI-TENANT 
 General Terms 

Saddleback Business Park I & II 

ARTICLE 1: BASIC LEASE INFORMATION 

1.1 The Tenant Specific Terms set forth on pages preceding these General Terms are incorporated by this reference, as if herein set
forth in their entirety. 
 1.2 Defined Terms. 

 

					
	 Term
	  	 	  	 Section(s)

	Accessibility; ADA	  	General Terms	  	3.2
	Additional Rent	  	General Terms	  	26.5
	Applicable Requirements	  	General Terms	  	6
	Assign	  	General Terms	  	8.1(a)
	Base Rent	  	General Terms	  	4.1
	Breach	  	General Terms	  	24.1
	CAM Charge	  	General Terms	  	4.4
	Commencement Date	  	Tenant Specific Terms	  	1.1(K)
	Common Areas	  	General Terms	  	10
	Default	  	General Terms	  	24.1
	Early Entry Date	  	General Terms	  	3.2
	Event of Default	  	General Terms	  	24.1
	Expiration Date	  	Tenant Specific Terms	  	1.1(l)
	Hazardous Substance	  	General Terms	  	7.2
	Inducement Provisions	  	General Terms	  	24.6
	Landlord	  	Tenant Specific Terms	  	1.1(c)
	Landlord’s Notice	  	General Terms	  	8.1(d)
	Lease	  	Tenant Specific Terms	  	1.1
	Lease Date	  	Tenant Specific Terms	  	1.1(b)
	Leased Premises	  	Tenant Specific Terms	  	1.1(e, f),
	Lender(s)	  	General Terms	  	7.2(e)
	Non-disturbance Agreement	  	General Terms	  	18.3
	Notice Date	  	General Terms	  	17(a)
	Nuisance	  	General Terms	  	6
	Permitted Size Vehicles	  	General Terms	  	25
	Premises	  	Tenant Specific Terms	  	1.1(e, f),
	Prevailing Party	  	General Terms	  	24.5
	Project	  	Tenant Specific Terms	  	1.1(a)
	Relocated Premises	  	General Terms	  	26.24
	Reportable Use	  	General Terms	  	7.2
	Security Device	  	General Terms	  	18.1
	Tenant	  	Tenant Specific Terms	  	1.1(d)
	Term	  	Tenant Specific Terms	  	1.1(j)
	Termination Date	  	General Terms	  	16
	Worth at the Time of Award	  	General Terms	  	24.4

 ARTICLE 2: AGREEMENT 

LANDLORD leases the premises (sometimes herein called the “premises” or the “Leased Premises”), part of a larger Building,
to TENANT, and TENANT leases the Leased Premises from LANDLORD, according to this LEASE. The duration of this LEASE will be the term. Except as otherwise provided herein, the term will commence on the Commencement Date and will expire on the
Expiration Date, as those terms are defined in Section 1.1 of the Tenant Specific Terms. 
 ARTICLE 3: DELIVERY OF PREMISES 

3.1 Delivery of Possession. Acceptance of Leased Premises. LANDLORD will be deemed to have delivered possession of the Leased
Premises to TENANT on the Commencement Date, as it may be adjusted by mutual agreement. LANDLORD will construct or install in the Leased Premises the improvements to be constructed or installed by LANDLORD according to the Tenant Improvement
Diagram, if any. If no Tenant Improvement Diagram is attached to this LEASE, it will be deemed that LANDLORD delivered to TENANT possession of the Leased Premises “as is,” in its then present condition on the Commencement Date. TENANT
acknowledges that neither LANDLORD nor its agents or employees have made any representations or warranties as to the suitability or fitness of the Leased Premises for the conduct of TENANT’s business or for any other purpose, nor has LANDLORD
or its agents or employees agreed to undertake any alterations or construct any TENANT improvements to the Leased Premises except as expressly provided in this LEASE and the Tenant Improvement Diagram. TENANT hereby acknowledges: (i) that
TENANT has been advised to satisfy itself with respect to all aspects of the nature, extent, appropriateness and condition of the Leased Premises (including but not limited to the electrical and fire systems, security, environmental aspects, seismic
and earthquake requirements, and in compliance with all Applicable Requirements (as that term is defined hereinbelow) and the present and future suitability of the Leased Premises for TENANT’s intended or contemplated uses; (b) that TENANT
has consulted with such professionals and made such investigation as TENANT and/or its independent advisors have deemed to be necessary or appropriate with respect to such matters, that TENANT is satisfied with respect thereto, and that TENANT
assumes all responsibility therefore as the same relate to TENANT’s occupancy of the Leased Premises and/or the terms of the LEASE; and (c) that neither LANDLORD, nor any of LANDLORD’s employees, attorneys, agents or representatives,
has made any oral or written representations or warranties with respect to said matters or to the Leased Premises, except to the extent that is otherwise expressly set forth in this LEASE. 

3.2 Accessibility; Americans with Disabilities Act. (a) The Premises have not undergone an inspection by a Certified Access
Specialist (CASp); (b) Since compliance with the Americans with Disabilities Act (ADA) is dependent upon Tenant’s specific use of the Premises, Landlord makes no warranty or representation as to whether or not the Premises, the Building, or the
Project comply with ADA or any similar legislation. In the event that Tenant’s use of the Premises requires modifications or additions to the Premises, the Building or the Project in order to be in ADA compliance, Tenant agrees to make any such
necessary modifications and/or additions at Tenant’s expense.. 

 3.3 Early Entry. If TENANT is permitted entry to the Leased Premises prior to
the Commencement Date for the purpose of installing fixtures or any other purpose permitted by LANDLORD, the early entry will be at TENANT’s sole risk and subject to all the terms and provisions of this LEASE as though the Commencement Date had
occurred, except for the payment of rent, which will commence on the Commencement Date. TENANT, its agents, or employees will not interfere with or delay LANDLORD’s completion of construction of the improvements. All rights of TENANT under this
Section 3.2 will be subject to the requirements of all applicable building codes, zoning requirements, and federal, state, and local laws, rules, regulations and other Applicable Requirements, and shall be exercised solely in a manner which
does not interfere with or delay LANDLORD’s compliance with any Applicable Requirements, including the obtaining of a certificate of occupancy for the Leased Premises. LANDLORD retains the absolute right, in Landlord’s sole discretion, to
impose additional conditions on TENANT’s early entry which LANDLORD, in its sole discretion, deems appropriate. TENANT agrees, as conditions of such early entry: (i) to indemnify and to hold LANDLORD free and harmless from any claims,
damages or losses arising out of such early entry into possession, and (ii) to deliver to LANDLORD written proof of TENANT’s full compliance with the insurance provisions of this LEASE. LANDLORD may require that TENANT execute an early
entry agreement confirming other conditions of early entry prior to the date of TENANT’s early entry (the “Early Entry Date”), or to refuse or terminate any right of early entry at any time. Notwithstanding any grant by LANDLORD to
TENANT of permission to receive early entry to the Leased Premises: (a) such permission shall not be deemed permission to make any use of any other portions of the project or common areas without the prior written consent of LANDLORD to such
use; and (b) LANDLORD shall not have any obligations to maintain, repair or alter the Leased Premises, nor have any liability respecting the condition of the Leased Premises during such early entry period, except and unless specifically
provided by written agreement hereafter made with respect to any early entry period. If TENANT commences to use the Leased Premises for its proposed use prior to the Commencement Date, then rent shall be paid on a prorata basis during such period of
use. TENANT shall transfer the electrical utility into its responsibility prior to any early entry into the Leased Premises. 
 3.4
Delay In Possession. If for any reason LANDLORD cannot deliver possession of the Leased Premises to TENANT by the Early Entry Date, if one is agreed upon as provided specified in Section 3.2, or if no Early Entry Date is agreed upon, by
the Commencement Date, LANDLORD shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease, or the obligations of TENANT hereunder, or extend the term hereof; but in such case, and provided that such
delay is not caused by the acts, changes or omissions of TENANT, TENANT shall not, except as otherwise provided herein, be obligated to pay rent or perform any other obligation of TENANT under the terms of this Lease until LANDLORD delivers
possession of the Leased Premises to TENANT. 

 ARTICLE 4: MONTHLY RENT 

4.1 Payment. Throughout the term of this LEASE, TENANT will pay monthly rent (sometimes referred to herein as “Base
Rent”) to LANDLORD as rent for the Leased Premises. Monthly rent will be paid in advance on or before the first day of each calendar month of the term. If the term commences on a day other than the first day of a calendar month, then the
prorated monthly rent for such month will be paid on or before the first day of the term. Rent for any such period during the term which is for less than one month shall be prorated based upon a thirty-day
month. Monthly rent will be paid to LANDLORD, without written notice or demand, and without deduction or offset, in lawful money of the United States of America at LANDLORD’s address, or to such other address as LANDLORD may from time to time
designate in writing. 
 4.2 Checks Drawn on Insufficient Funds. The parties recognize and agree that, in the event that TENANT
presents payment(s) to LANDLORD in the form of check(s) which are drawn against insufficient funds, additional administrative expenses, disruption of cash-flow, and other damage result to LANDLORD in amounts
which are extremely difficult or impossible to measure accurately as of the time of execution of this LEASE. TENANT therefore agrees that if TENANT presents, tenders, or causes the presentation or tender to LANDLORD of check(s) or other forms of
payment of any sums due under this LEASE which are dishonored for any reason when presented for payment by the financial institution upon which such instruments are drawn, then, in addition to any other rights or remedies which LANDLORD may have
hereunder or under any Applicable Requirements, TENANT shall pay to LANDLORD, as liquidated damages, for each such check or other instrument, a returned check fee in the amount of Fifty ($50.00) Dollars. In addition, in the event that a check or
other payment instrument is tendered as payment of rent or other sum due under this LEASE and such check or other instrument is drawn against insufficient funds or is otherwise not immediately honored when presented for payment by the financial
institution upon which such instrument is drawn, then rental payments then and thereafter due under the LEASE shall automatically, without further demand by the LANDLORD, become payable only by way of certified or cashier’s check. 

4.3 Late Payments; Additional Remedies for Late Payments. TENANT acknowledges that the late payment of rent to LANDLORD will
cause LANDLORD to incur costs not contemplated by this LEASE, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on
LANDLORD by the terms of any mortgage or trust deed covering the project. Accordingly, if any installment of rent, or any other sum due from TENANT shall not be received by LANDLORD or LANDLORD’s designee when due, then, without any requirement
of notice to the TENANT, TENANT shall pay to LANDLORD a late charge equal to six percent (6.0%) of such overdue amount. The parties agree that such late charge represents a fair and reasonable estimate of the costs LANDLORD will incur by reason of
such late payment by TENANT. Acceptance of such late charge by LANDLORD shall in no event constitute a waiver of TENANT’s default with respect to such overdue amount, nor prevent LANDLORD from exercising any of the other rights and remedies
granted hereunder. In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of monthly rent, then notwithstanding any provision of this LEASE to the contrary, monthly rent shall, at
LANDLORD’s option, become due and payable quarterly in advance. 

 4.4 CAM Charge. In addition to paying the Base Rent set forth in
Section 1.1m. of the Tenant Specific Terms, as further described in Section 4.1. of the General Terms, and such other sums as TENANT is obligated to pay under the Lease, TENANT shall pay as additional rent, in the same manner as and not
later than concurrently with each payment of the monthly Base Rent due under the Lease, a monthly fixed charge (the “CAM Charge”) as set forth in Section 1.1n of the Tenant Specific Terms related to (but not necessarily equal to) to
TENANT’s approximate share of certain of the expenses of operation, repair, management, maintenance of the Project in which the Leased Premises are located. The Monthly CAM Charge shall be paid to LANDLORD without abatement, deduction,
adjustment or offset, and without any requirement of any prior notice or demand. The CAM Charge shall be due for each and every month of the Lease Term, and for such extensions or modifications thereof as may be agreed upon from time to time. 

ARTICLE 5: INSURANCE 
 5.1
LANDLORD’s Insurance. At all times during the term, LANDLORD will carry and maintain in the name of LANDLORD, with loss payable to LANDLORD and to any Lender [as that term is defined in Section 7.2(e) hereinbelow] whose security
instruments so require: 
 (a) Fire and extended coverage insurance covering the project, its equipment, common area furnishings, and
leasehold improvements in the Leased Premises to the extent of the TENANT finish allowance (as that term is defined in the TENANT Improvement Diagram, if any); 

(b) Bodily injury and property damage insurance; and 

(c) Such other insurance as LANDLORD reasonably determines from time to time. 

The insurance coverage and amounts in this Section 5.1 will be reasonably determined by LANDLORD, based on coverage carried by owners of comparable
buildings in the vicinity of the project. LANDLORD shall not have any obligation to cause or permit TENANT to be named as an additional insured in any insurance policy procured or maintained by LANDLORD in connection with this LEASE, the Leased
Premises, or the project. Any liability insurance maintained by LANDLORD with respect to the project or the Leased Premises shall be in addition to and not in lieu of the insurance required to be maintained by TENANT under this LEASE. 

5.2 TENANT’s Insurance. At all times during the term, TENANT will carry and maintain, at TENANT’s sole expense, the
following insurance, in the amounts specified below or such other amounts as LANDLORD may from time to time reasonably request, with insurance companies and on forms satisfactory to LANDLORD: 

(a) A Commercial General Liability policy of insurance protecting TENANT, LANDLORD and any lender(s) whose names have been provided to TENANT
in writing (as additional insureds) against claims for bodily injury, personal injury and property damage based upon, involving or arising out of the ownership, use, occupancy or maintenance of the Leased Premises and all areas appurtenant thereto.
Such insurance shall be on an occurrence basis providing single limit coverage in an amount not less than Two Million ($2,000,000) Dollars per occurrence with an “Additional Insured-Managers or LANDLORDs
of Premises” endorsement and contain the “Amendment of the Pollution Exclusion” endorsement for damage caused by 

 
heat, smoke or fumes from a hostile fire. The policy shall not contain any intra-insured exclusions as between insured persons or organizations, but shall
include coverage for liability assumed under this LEASE as an “Insured contract” for the performance of TENANT’s indemnity obligations under this LEASE. The limits of said insurance required by this Lease or as carried by TENANT shall
not, however, limit the liability of TENANT nor relieve TENANT of any obligation hereunder. All insurance to be carried by TENANT shall be primary to and not contributory with any similar insurance carried by LANDLORD, whose insurance shall be
considered excess insurance only. 
 (b) Either by separate policy or, at LANDLORD’s option, by endorsement to a policy already carried,
maintain insurance coverage on all of TENANT’s personal property, machinery, equipment, stock, inventory, trade fixtures and any alterations and utility installations constructed pursuant to this LEASE and/or owned by TENANT in, on, or about
the Leased Premises similar in coverage to that carried by LANDLORD under Section 5.1. Such insurance shall be full replacement cost coverage, on a broad form basis insuring against “all risks of direct physical loss,” with a
deductible not to exceed $1,000 per occurrence, and shall include coverage for any additional costs resulting from debris removal and reasonable amounts of coverage for the enforcement of any ordinance or law regulating the reconstruction or
replacement of any undamaged sections of the project required to be demolished or removed by reason of the enforcement of any building, zoning, safety, or other Applicable Requirements as the result of a covered loss. The proceeds from any such
insurance shall be used by TENANT for the replacement of personal property, machinery, equipment, stock, inventory and the restoration of trade fixtures and any alterations and utility installations required to be covered by such insurance. 

(c) A policy or policies in the name of LANDLORD, with loss payable to LANDLORD and any lender(s), insuring the loss of the full rental and
other charges payable by TENANT under the LEASE for one year (including any scheduled rental increases). Said insurance may provide that in the event the Lease is terminated by reason of an insured loss, the period of indemnity for such coverage
shall be extended beyond the date of the completion of repairs or replacement of the Leased Premises, to provide for one full year’s loss of rental revenues from the date of any such loss. Said insurance shall contain an agreed valuation
provision in lieu of any co-insurance clause, and the amount of coverage shall be adjusted annually to reflect the projected rental income and other sums, if any, otherwise payable by TENANT, for the next 12-month period. 
 5.3 Forms of Policies. Certificates of insurance, together with copies of
the endorsements, when applicable, naming LANDLORD, the property management company and any others specified by LANDLORD as additional insureds, will be delivered to LANDLORD prior to TENANT’s occupancy of the Leased Premises and from time to
time at least 10 days prior to the expiration of the term of each such policy. All commercial general liability or comparable policies maintained by TENANT will name LANDLORD and such other persons or firms as LANDLORD specifies from time to time as
additional insureds, entitling them to recover under such policies for any loss sustained by them, their agents, and employees as a result of the negligent acts or omissions of TENANT. All commercial general liability and property policies
maintained by TENANT will be written as primary policies, not contributing with and not supplemental to the coverage that LANDLORD may carry. Insurance required 

 
under this LEASE shall be in companies duly licensed to transact business in the State of California and maintaining during the policy term a “General Policyholders Rating” of at least A-, VIII, or such other rating as may be required by any lender of LANDLORD holding a security interest in the project, as set forth in the most current issue of “Best’s Insurance Guide.” TENANT shall
not do or permit to be done anything which shall invalidate the insurance policies referred to in this LEASE. TENANT shall cause to be delivered to LANDLORD, within seven (7) days after the earlier of the Early Entry Date or the Commencement
Date, certified copies of, or certificates evidencing the existence and amounts of, the insurance required under Section 5.2. No such policy shall be cancelable or subject to modification except after thirty (30) days’ prior written
notice to LANDLORD. TENANT shall at least thirty (30) days prior to the expiration of such policies, furnish LANDLORD with evidence of renewals or “insurance binders” evidencing renewal thereof, or LANDLORD may order such insurance
and charge the cost thereof to TENANT, which amount shall be payable by TENANT to LANDLORD upon demand. 
 5.4 Waiver of
Subrogation. LANDLORD and TENANT each waive any and all rights to recover against the other or against any other tenant or occupant of the project, or against the officers, directors, shareholders, partners, joint venturers, employees, agents,
customers, invitees, or business visitors of such other party or of such other tenant or occupant of the project, for any loss or damage to such waiving party arising from any cause covered by any property insurance required to be carried by such
party pursuant to this Article 5 or any other property insurance actually carried by such party to the extent of the limits of such policy. LANDLORD and TENANT from time to time will cause their respective insurers to issue appropriate waiver
of subrogation rights endorsements to all property insurance policies carried in connection with the project or the Leased Premises or the contents of the project or the Leased Premises. TENANT agrees to cause all other occupants of the Leased
Premises claiming by, under, or through TENANT to execute and deliver to LANDLORD such a waiver of claims and to obtain such waiver of subrogation rights endorsements. 

5.5 Adequacy of Coverage; Premium Increase Caused by Tenant. LANDLORD, its agents, and employees make no representation that the
limits of liability specified to be carried by TENANT pursuant to this Article 5 are adequate to protect TENANT. If TENANT believes that any of such insurance coverage is inadequate, TENANT will obtain such additional insurance coverage as
TENANT deems adequate, at TENANT’s sole expense. TENANT shall pay, as additional rent payable upon demand by LANDLORD, for any increase in the premiums for of property insurance provided by LANDLORD with respect to the Leased Premises and/or
the building in which the Leased Premises are located if said increase is caused by TENANT’s acts, omissions, use or occupancy of the Leased Premises. 

ARTICLE 6: USE 
 The Leased Premises will
be used only for that use set forth in Tenant Specific Terms hereinabove, and purposes incidental to that use, and for no other purpose. TENANT will use the Leased Premises in a careful, safe, and proper manner. TENANT will, at TENANT’s sole
expense, only use and cause or permit the Leased Premises to be used or occupied for purposes or in a manner which is in full compliance with any and all applicable municipal, county, state and federal laws, rules, directives, ordinances and
regulations, permits, the requirements of any applicable fire insurance underwriter or rating bureau, and the recommendations of 

 
LANDLORD’s engineers and/or consultants, relating in any manner to the Leased Premises (including but not limited to matters pertaining to (i) industrial hygiene,
(ii) environmental conditions on, in, under or about the Leased Premises, including soil and groundwater conditions, and (iii) the use, generation, manufacture, production, installation, maintenance, removal, transportation, storage,
spill, or release of any Hazardous Substance) and any covenants, conditions or restrictions of record, including without limitation all zoning, building and other codes, and the Americans with Disabilities Act, as revised from time to time, and
California Title 24, now in force or which may hereafter be in force or effect (collectively, “Applicable Requirements”), which impose any duty upon LANDLORD or TENANT with respect to the use, occupation or alteration of the Leased
Premises. TENANT will not commit waste or suffer or permit waste to be committed in, on, or about the Leased Premises. TENANT will conduct its business and control its employees, agents, and invitees in such a manner as not to violate any Applicable
Requirements or to create any nuisance or interfere with, annoy, or disturb any other TENANT or occupant of the project or LANDLORD in its operation of the project. The term “nuisance” shall include, without limitation, anything which is
injurious to health, or is indecent or offensive to the senses, or an obstruction to the free use of property, so as to interfere with the comfortable enjoyment of life or property. Within ten (10) days after receipt, TENANT shall deliver to
LANDLORD written notice of, and concurrently provide Landlord with copies of (if applicable): (i) any notices alleging violations respecting the project and/or the Leased Premises of any Applicable Requirements; (ii) any notices of claims made
or threatened in writing regarding noncompliance violations respecting the project and/or the Leased Premises of any Applicable Requirements; and (iii) any notices of any governmental or regulatory actions or investigations instituted or
threatened regarding noncompliance with violations of any Applicable Requirements as same relate to all or any portion of the Leased Premises and/or the project. Notwithstanding any other terms or conditions in this lease, under no circumstances
will Tenant store, deliver, or dispense marijuana or products related to the medical marijuana industry; to do so is an Event of Default under this lease as defined in Article 24. 

ARTICLE 7: REQUIREMENTS OF LAW; HAZARDOUS MATERIALS; FIRE INSURANCE 

7.1 General. At its sole cost and expense, TENANT will promptly comply with all Applicable Requirements now in force or in force
at any time after the Lease Date, with the requirements of any board of fire underwriters or other similar body constituted now or after the Lease Date, with any direction or occupancy certificate issued pursuant to any law by any public officer or
officers, as well as with the provisions of all recorded documents affecting the Leased Premises, insofar as they relate to the condition, use, alteration or occupancy of the Leased Premises, excluding requirements of structural changes to the
buildings, unless required by the unique nature of TENANT’s use or occupancy of the Leased Premises, or as a result of alterations or improvements to the Leased Premises made by or at the direction of TENANT. 

 7.2 TENANT’s Environmental Responsibilities. 

(a) Reportable Uses Require Consent. The term “Hazardous Substance” as used in this Lease shall mean any product,
substance, chemical, material or waste whose presence, nature, quantity and/or intensity of existence, use, manufacture, disposal, transportation, spill, release or effect, either by itself or in combination with other materials expected to be on
the Leased Premises, is either: (i) potentially injurious to the public health, safety or welfare, the environment, or the Leased Premises; (ii) regulated or monitored by any governmental authority; or (iii) a basis for potential
liability of LANDLORD to any governmental agency or third party under any applicable statute or common law theory. Hazardous Substance shall include, but not be limited to, hydrocarbons, petroleum, gasoline, crude oil or any products or by-products thereof, any toxic or radioactive matter, and those materials identified in Sections 66680 through 66685 of Title 22 of the California Administrative Code. TENANT shall not engage in any activity in
or about the Leased Premises which constitutes a Reportable Use (as hereinafter defined) of Hazardous Substances without the express prior written consent of LANDLORD and compliance in a timely manner (at TENANT’s sole cost and expense) with
all Applicable Requirements (as hereinafter defined). “Reportable Use” shall mean (i) the installation or use of any above or below ground storage tank, (ii) the generation, possession, storage, use, transportation, or disposal
of a Hazardous Substance that requires a permit from, or with respect to which a report, notice, registration or business plan is required to be filed with, any governmental authority, and (iii) the presence in, on or about the Leased Premises
of a Hazardous Substance with respect to which any Applicable Requirements require that a notice be given to persons entering or occupying the Leased Premises or neighboring properties. Notwithstanding the foregoing, TENANT may, without
LANDLORD’s prior consent, but upon notice to LANDLORD and in compliance with all Applicable Requirements, use any ordinary and customary materials reasonably required to be used by TENANT in the normal course of the permitted use of the Leased
Premises provided in this LEASE, so long as such use is not a Reportable Use and does not expose the Leased Premises or neighboring properties to any meaningful risk of contamination or damage or expose LANDLORD to any liability therefor. In
addition, LANDLORD may (but without any obligation to do so) condition its consent to any Reportable Use of any Hazardous Substance by TENANT upon TENANT’s giving LANDLORD such additional assurances as LANDLORD, in its reasonable discretion,
deems necessary to protect itself, the public, the Leased Premises and the environment against damage, contamination or injury and/or liability therefor, including but not limited to the installation (and, at LANDLORD’s option, removal on or
before Lease expiration or earlier termination) of reasonably necessary protective modifications to the Leased Premises (such as concrete encasements) and/or the deposit of an additional Security Deposit under Article 21 hereof. 

(b) Duty to Inform LANDLORD. If TENANT knows, or has reasonable cause to believe, that a Hazardous Substance has come to be
located in, on, under or about the Leased Premises or the Building, other than as previously consented to by LANDLORD, TENANT shall immediately give LANDLORD written notice thereof, together with a copy of any statement, report, notice,
registration, application, permit, business plan, license, claim, action, or proceeding given to, or received from, any governmental authority or private party concerning the presence, spill, release, discharge of, or exposure to, such Hazardous
Substance including but not limited to, all such documents as may be involved in any Reportable Use involving the Leased Premises. TENANT shall not cause or permit any Hazardous Substance to be spilled or released in, on, under or about the Leased
Premises (including, without limitation, through the plumbing or sanitary sewer system). 

 (c) Indemnification. TENANT shall indemnify, protect, defend and hold
LANDLORD, its agents, employees, lenders and ground LANDLORD, if any, and the Leased Premises, harmless from and against any and all damages, liabilities, judgments, costs, claims, liens, expenses, penalties, loss of permits and attorneys’ and
consultants’ fees arising out of or involving any Hazardous Substance brought onto the Leased Premises by or for TENANT or by anyone under TENANT’s control. TENANT’s obligations under this Section 7.2(c) shall include, but not be
limited to, the effects of any contamination or injury to person, property or the environment created or suffered by TENANT, and the cost of investigation (including consultants’ and attorneys’ fees and testing), removal, remediation
and/or abatement thereof, or of any contamination therein involved, and shall survive the expiration or earlier termination of this Lease. No termination, cancellation or release agreement entered into by LANDLORD and TENANT shall release TENANT
from its obligations under this Lease with respect to Hazardous Substances, unless specifically so agreed by LANDLORD in writing at the time of such agreement. 

(d) TENANT’s Compliance with Requirements. TENANT shall, at TENANT’s sole cost and expense, fully, diligently and in a timely
manner, comply with all Applicable Requirements. TENANT shall, within five (5) days after receipt of LANDLORD’s written request, provide LANDLORD with copies of all documents and information, including but not limited to permits,
registrations, manifests, applications, reports and certificates, evidencing TENANT’s compliance with any Applicable Requirements specified by LANDLORD and shall immediately upon receipt notify LANDLORD in writing (with copies of any documents
involved) of any threatened or actual claim, notice, citation, warning, complaint or report pertaining to or involving failure by TENANT or the Leased Premises to comply with any Applicable Requirements. 

(e) Inspection; Compliance with Law. LANDLORD, LANDLORD’s agents, employees, contractors and designated representatives, and the
holders of any mortgages, deeds of trust or ground leases on the Leased Premises (“Lenders”) shall have the right to inspect the suite with a 24 hour notice to tenant to enter the Leased Premises in the case of an emergency, and otherwise
at reasonable times, for the purpose of inspecting the condition of the Leased Premises and for verifying compliance by TENANT with this Lease and all Applicable Requirements (as defined above), and LANDLORD shall be entitled to employ experts
and/or consultants in connection therewith to advise LANDLORD with respect to TENANT’s activities, including but not limited to TENANT’s installation, operation, use, monitoring, maintenance, or removal of any Hazardous Substance on or
from the Leased Premises. The costs and expenses of any such inspections shall be paid by the party requesting same, unless a default or breach of this Lease by TENANT or a violation of Applicable Requirements or a contamination, caused or
materially contributed to by TENANT, is found to exist or to be imminent, or unless the inspection is requested or ordered by a governmental authority as the result of any such existing or imminent violation or contamination. In such case, TENANT
shall upon request reimburse LANDLORD or LANDLORD’s Lender, as the case may be, for the costs and expenses of such inspections. 

7.3 Certain Insurance Risks. TENANT will not do or permit to be done any act or thing upon the Leased Premises or the project
which would (a) jeopardize or be in conflict with fire insurance policies covering the project and fixtures and property in the project; (b) increase the rate of fire insurance applicable to the project to an amount higher than it
otherwise would be for general industrial use of the project; or (c) subject LANDLORD to any liability or responsibility for injury to any person or persons or to property by reason of any business or operation being carried on upon the Leased
Premises. 

 ARTICLE 8: ASSIGNMENT AND SUBLETTING 

8.1 LANDLORD’s Consent Required. 

(a) TENANT shall not voluntarily or by operation of law assign, transfer, mortgage or otherwise transfer or encumber (collectively,
“assign”) or sublet all or any part of TENANT’s interest in this Lease or in the Leased Premises without LANDLORD’s prior written consent given under and subject to the terms of Section 26.26 of this LEASE. 

(b) A change in the control of TENANT shall constitute an assignment requiring LANDLORD’s consent. The transfer, on a cumulative basis, of
twenty-five percent (25%) or more of the voting control of TENANT shall constitute a change in control for this purpose. 

(c) The involvement of TENANT or its assets in any transaction, or series of transactions (by way of merger, sale, acquisition, financing,
refinancing, transfer, leveraged buy-out or otherwise), whether or not a formal assignment or hypothecation of this Lease or TENANT’s assets occurs, which results or will result in a reduction of the Net
Worth of TENANT, as hereinafter defined, by an amount equal to or greater than twenty-five percent (25%) of such Net Worth of TENANT as it was represented to LANDLORD at the time of full execution and delivery
of this Lease or at the time of the most recent assignment to which LANDLORD has consented, or as it exists immediately prior to said transaction or transactions constituting such reduction, at whichever time said Net Worth of TENANT was or is
greater, shall be considered an assignment of this Lease by TENANT to which LANDLORD may reasonably without its consent. “Net Worth of TENANT” for purposes of this Lease shall be the net worth of TENANT (excluding any Guarantors)
established under generally accepted accounting principles consistently applied. 
 (d) Any attempt to assign or sublet all or part of
TENANT’s interest in this LEASE without LANDLORD’s specific prior written consent shall, at LANDLORD’s option, be a default curable after notice per Section 26.12, or a non-curable breach
without the necessity of any notice and grace period. If LANDLORD elects to treat such unconsented to assignment or subletting as a non-curable breach, LANDLORD shall have the right to either:
(i) terminate this LEASE, or (ii) upon thirty (30) days’ written notice (“LANDLORD’s Notice”), increase the monthly Base Rent for the Leased Premises to the greater of the then fair market rental value of the
Leased Premises, as reasonably determined by LANDLORD, or one hundred ten percent (110%) of the monthly Base Rent then in effect. Pending determination of the new fair market rental value, if disputed by TENANT, TENANT shall pay the amount set forth
in LANDLORD’s Notice, with any overpayment credited against the next installment(s) of monthly Base Rent coming due, and any underpayment for the period retroactively to the effective date of the adjustment being due and payable immediately
upon the determination thereof. Further, in the event of such breach and rental adjustment, any fixed rental adjustments scheduled during the remainder of the LEASE term shall be increased in the same ratio as the new rental bears to the monthly
Base Rent in effect immediately prior to the adjustment specified in LANDLORD’s Notice. 

 (e) If TENANT believes that LANDLORD has unreasonably withheld its consent pursuant any
provision of this Article 8, TENANT’s sole remedy will be to seek a declaratory judgment that LANDLORD has unreasonably withheld its consent or an order of specific performance or mandatory injunction of the LANDLORD’s agreement to
give its consent; however, TENANT may recover compensatory damages only if a court of competent jurisdiction determines that: (i) TENANT commenced an action respecting such claim(s) within six (6) months after the date on which any right
of action thereon first arose under Applicable Requirements, and (ii) LANDLORD has acted willfully, arbitrarily and capriciously in evaluating the proposed assignee’s or subtenant’s creditworthiness, identity, and/or business
character, and/or the proposed use and/or lawfulness of the proposed use. 
 8.2 Terms and Conditions Applicable to Assignment and
Subletting. 
 (a) Regardless of LANDLORD’s consent, any assignment or subletting shall not (i) be effective without the
express written assumption by such assignee or sublessee of the obligations of TENANT under this LEASE, (ii) release TENANT of any obligations hereunder, nor (iii) alter the primary liability of TENANT for the payment of monthly Base Rent
and other sums due LANDLORD hereunder or for the performance of any other obligations to be performed by TENANT under this LEASE. 
 (b)
LANDLORD may accept any rent or performance of TENANT’s obligations from any person other than TENANT pending approval or disapproval of an assignment. Neither a delay in the approval or disapproval of such assignment nor the acceptance of any
rent for performance shall constitute a waiver or estoppel of LANDLORD’s right to exercise its remedies for the default or breach by TENANT of any of the terms, covenants or conditions of this LEASE. 

(c) The consent of LANDLORD to any assignment or subletting shall not constitute a consent to any subsequent assignment or subletting by TENANT
or to any subsequent or successive assignment or subletting by the assignee or sublessee. However, LANDLORD may consent to subsequent sublettings and assignments of the sublease or any amendments or modifications thereto without notifying TENANT or
anyone else liable under this LEASE or any sublease and without obtaining their consent, and such action shall not relieve such persons from liability under this LEASE or such sublease. 

(d) In the event of any default or breach of TENANT’s obligation under this Lease, LANDLORD may proceed directly against TENANT, any
guarantors or anyone else responsible for the performance of the TENANT’s obligations under this LEASE, including any sublessee, without first exhausting LANDLORD’s remedies against any other person or entity responsible therefor to
LANDLORD, or any security held by LANDLORD. 
 (e) Each request for consent to an assignment or subletting shall be in writing, accompanied
by information relevant to LANDLORD’s determination as to the financial and operational responsibility and appropriateness of the proposed assignee or sublessee, including, but not limited to the intended use and/or required modification of the
Leased Premises, if any, together with a non-refundable deposit of $1,000 or ten percent (10%) of the monthly Base Rent applicable to the portion of the Leased Premises which is the subject of the proposed
assignment or sublease, whichever is greater, as a deposit towards the reasonable consideration for LANDLORD’s considering and processing the request for consent. TENANT agrees to provide LANDLORD with such other or additional information
and/or documentation as may be reasonably requested by LANDLORD. 

 (f) Any assignee of, or sublessee under, this LEASE shall, by reason of accepting such
assignment or entering into such sublease, be deemed, for the benefit of LANDLORD, to have assumed and agreed to conform and comply with each and every term, covenant, condition and obligation herein to be observed or performed by TENANT during the
term of said assignment or sublease, other than such obligations as are contrary to or inconsistent with provisions of an assignment or sublease to which LANDLORD has specifically consented in writing. 

(g) The occurrence of a transaction described in Section 8.2(c) shall give LANDLORD the right (but not the obligation) to require that the
Security Deposit be increased by an amount equal to three (3) times the then monthly Base Rent, and LANDLORD may make the actual receipt by LANDLORD of the Security Deposit increase a condition to LANDLORD’s consent to such transaction.

 (h) LANDLORD, as a condition to giving its consent to any assignment or subletting, may require that the amount and adjustment schedule of
the monthly Base Rent payable under this Lease be adjusted to what is then the market value and/or adjustment schedule for property similar to the Leased Premises as then constituted, as determined by LANDLORD. 

8.3 Additional Terms and Conditions Applicable to Subletting. The following terms and conditions shall apply to any subletting by
TENANT of all or any part of the Leased Premises and shall be deemed included in all subleases under this LEASE whether or not expressly incorporated therein. 

(a) Without affecting any of its other obligations under this LEASE, TENANT will pay LANDLORD as additional rent under this LEASE a sum equal
to one-half (50%) of any sums or other economic consideration that (a) are received by TENANT as a result of an assignment or subletting, whether or not denominated “rent” or “additional
rent” under the assignment or sublease, and (b) in the case of a sublease, exceed in total the sums which TENANT is obligated to pay LANDLORD under this Lease (prorated to reflect obligations allocable to that portion of the Leased
Premises subject to such assignment or sublease). The failure or inability of the assignee or subtenant to pay TENANT pursuant to the assignment or sublease will not relieve TENANT from its obligations to LANDLORD under this section. TENANT will not
amend the assignment or sublease in such a way as to reduce or delay payment of amounts that are provided in the assignment or sublease approved by LANDLORD. 

(b) TENANT hereby assigns and transfers to LANDLORD all of TENANT’s interest in all rentals and income arising from any sublease of all or
a portion of the Leased Premises heretofore or hereafter made by TENANT, and LANDLORD may collect such rent and income and apply same toward TENANT’s obligations under this LEASE; provided, however, that until a breach (as defined in
Article 24) shall occur in the performance of TENANT’s obligations under this LEASE, TENANT may, except as otherwise provided in this LEASE, receive, collect 

 
and enjoy the rents accruing under such sublease. LANDLORD shall not, by reason of the foregoing provision or any other assignment of such sublease to LANDLORD, nor by reason of the collection of
the rents from a sublessee, be deemed liable to the sublessee for any failure of TENANT to perform and comply with any of TENANT’s obligations to such sublessee under such sublease. TENANT hereby irrevocably authorizes and directs any such
sublessee, upon receipt of a written notice from LANDLORD stating that a breach exists in the performance of TENANT’s obligations under this LEASE, to pay to LANDLORD the rents and other charges due and to become due under the sublease.
Sublessee shall rely upon any such statement and request from LANDLORD and shall pay such rents and other charges to LANDLORD without any obligation or right to inquire as to whether such breach exists and notwithstanding any notice from or claim
from TENANT to the contrary. TENANT shall have no right or claim against such sublessee, or, until the breach has been cured, against LANDLORD, for any such rents and other charges so paid by said sublessee to LANDLORD. 

(c) In the event of a breach by TENANT in the performance of its obligations under this LEASE, LANDLORD, at its option and without any
obligation to do so, may require any sublessee to attorn to LANDLORD, in which event LANDLORD shall undertake the obligations of the sublessor under such sublease from the time of the exercise of said option to the expiration of such sublease;
provided, however, LANDLORD shall not be liable for any prepaid rents or security deposit paid by such sublessee to such sublessor or for any other prior defaults or breaches of such sublessor under such sublease. 

(d) Any matter or thing requiring the consent of the sublessor under a sublease shall also require the consent of LANDLORD herein. 

(e) No sublessee under a sublease approved by LANDLORD shall further assign or sublet all or any part of the Leased Premises without
LANDLORD’s prior written consent. 
 (f) LANDLORD shall deliver a copy of any notice of default or breach by TENANT to the sublessee,
who shall have the right to cure the default of TENANT within the grace period, if any, specified in such notice. The sublessee shall have a right of reimbursement and offset from and against TENANT for any such defaults cured by the sublessee. 

ARTICLE 9: RULES AND REGULATIONS 
 TENANT
and its employees, agents, licensees, and visitors will at all times observe faithfully, and comply strictly with, the rules and regulations set forth in Exhibit C. LANDLORD may from time to time reasonably amend, delete, or modify existing
rules and regulations, or adopt reasonable new rules and regulations for the use, safety, cleanliness, and care of the Leased Premises, the building, and the project, and the comfort, quiet, and convenience of occupants of the project. Modifications
or additions to the rules and regulations will be effective upon 30 days’ prior written notice to TENANT from LANDLORD. In the event of any breach of any rules or regulations or any amendments or additions to such rules and regulations,
LANDLORD will have all remedies that this LEASE provides for default by TENANT, and will in addition have any remedies available at law or in equity, including the right to enjoin any breach of such rules and regulations. LANDLORD will not be liable
to TENANT for the breach of another lease by another TENANT or the violation of such rules and regulations by any other TENANT, its employees, agents, visitors, or licensees or any other person, nor will such breach or violation excuse TENANT’s
performance hereunder. In the event of any conflict between the provisions of this LEASE and the rules and regulations, the provisions of this LEASE will govern. 

 ARTICLE 10: COMMON AREAS 

As used in this LEASE, the term “common areas” means, without limitation, the hallways, entryways, driveways, walkways, terraces,
docks, loading areas, restrooms, trash facilities, and all other areas and facilities in the Project that are provided and designated from time to time by LANDLORD for the general nonexclusive use and convenience of TENANT with LANDLORD and other
tenants of the project and their respective employees, invitees, licensees, or other visitors. LANDLORD grants TENANT, its employees, invitees, suppliers, contractors and customers a nonexclusive license for the term of this LEASE to use the common
areas, as they exist from time to time, in common with others entitled to use the common areas, subject to the terms and conditions of this LEASE and such rules and regulations as may be applicable thereto from time to time. Without advance notice
to TENANT, except with respect to matters covered by subsection (a) below, and without any liability to TENANT in any respect, provided LANDLORD will take no action permitted under this Article 10 in such a manner as to prevent
TENANT’s access to the Leased Premises, LANDLORD will have the right to: 
 (a) Close off any of the common areas to whatever extent
required in the opinion of LANDLORD and its counsel to prevent a dedication of any of the common areas or the accrual of any rights by any person or the public to the common areas; 

(b) Temporarily close any of the common areas for maintenance, alteration, or improvement purposes; and 

(c) Change the size, use, shape, or nature of any such common areas, including erecting additional buildings on the common areas, expanding the
existing building or other buildings to cover a portion of the common areas, converting common areas to a portion of the building or other buildings, or converting any portion of the building (excluding the Leased Premises) or other buildings to
common areas. Upon erection of any additional buildings or change in common areas, the portion of the Project upon which buildings or structures have been erected will no longer be deemed to be a part of the common areas. 

(d) Under no circumstances shall the right herein granted to use the common areas be deemed to include the right to store any property,
temporarily or permanently, in the common areas. Any such storage shall be permitted only by the prior written consent of LANDLORD or LANDLORD’s designated agent, which consent may be revoked at any time. In the event that any unauthorized
storage shall occur then LANDLORD shall have the right, without notice, in addition to such other rights and remedies that it may have, to remove the property and charge the cost to TENANT, which cost shall be immediately payable upon demand by
LANDLORD. 

 ARTICLE 11: LANDLORD’S SERVICES 

11.1 LANDLORD’s Repair and Maintenance. Except for damages caused by any negligent or intentional act or omission of TENANT,
TENANT’s employees, suppliers, shippers, customers, or invitees (in any of which events TENANT shall promptly repair and be solely liable for such damages and all consequences thereof), LANDLORD, at LANDLORD’s expense, shall keep in good
condition and repair the foundations, exterior walls, structural condition of interior bearing walls, and roof of the Leased Premises (excluding any portions thereof which TENANT or any agent, employee, contractor or representative of TENANT has
modified or punctured, with or without Landlord’s consent), as well as the parking lots, walkways, driveways, landscaping, fences, signs (other than TENANT’s signs) and utility installations of the common areas and all parts thereof and
the HVAC system. LANDLORD shall not, however, be obligated to paint the exterior or interior surface of exterior walls, nor shall LANDLORD be required to maintain, repair or replace windows, doors (including exterior roll-up doors), skylights or plate glass in, on or around the Leased Premises. 
 TENANT’S Initials: /s/ BB
/ /s/ MW  
 LANDLORD shall have no obligation to make repairs under this Article 11 until
a reasonable time after receipt of written notice from TENANT of the need for such repairs. TENANT expressly waives the benefits of any statute now or hereafter in effect which would otherwise afford TENANT the right to make repairs at
LANDLORD’s expense or to terminate this LEASE because of LANDLORD’s failure to keep the Leased Premises in good order, condition or repair. 

11.2 Limitation on Liability. 

LANDLORD, LANDLORD’s agent and its property manager shall not be in default under this LEASE or be liable to TENANT or any other person
for direct or consequential damage, or otherwise, for any failure to supply any heat, air conditioning, cleaning, lighting, security; for surges or interruptions of electricity; or for other services LANDLORD has agreed to supply during any period
when LANDLORD uses reasonable diligence to supply such services. LANDLORD will use reasonable efforts to diligently remedy any interruption in the furnishing of such services. LANDLORD reserves the right temporarily to discontinue such services at
such times as may be necessary by reason of accident; repairs, alterations or improvements; strikes; lockouts; riots; acts of God; governmental preemption in connection with a national or local emergency; any rule, order, or regulation of any
governmental agency; conditions of supply and demand that make any product unavailable; LANDLORD’s compliance with any mandatory governmental energy conservation or environmental protection program, or any voluntary governmental energy
conservation program at the request of or with consent or acquiescence of TENANT; or any other happening beyond the control of LANDLORD. LANDLORD will not be liable to TENANT or any other person or entity for direct or consequential damages, whether
for damage or injuries to any person or property, or otherwise, resulting from: (i) the admission to or exclusion from the building or project of any person(s); (ii) the failure to provide, or to maintain or repair, any alarm or security system
or device, or any portion thereof; and/or (iii) the failure to provide or the discontinuance of the provision of any form of guard or security service respecting the Leased Premises, or respecting the building and/or project in which the Leased
Premises are located. TENANT acknowledges and agrees that LANDLORD has no obligation to provide or, if provided, to continue to provide, maintain or repair, any form of alarm or security systems, devices or services in, on or around the Leased
Premises, the building or the project. In the event of invasion, mob, riot, public excitement, strikes, lockouts, or other circumstances rendering such action advisable in LANDLORD’s sole opinion, LANDLORD will have the right to prevent access
to the building or project during the 

 
continuance of the same by such means as LANDLORD, in its sole discretion, may deem appropriate, including without limitation locking doors and closing parking areas and other common areas.
LANDLORD will not be liable for damages to person or property or for injury to, or interruption of, business for any discontinuance permitted under this Article 11, nor will such discontinuance in any way be construed as an eviction of TENANT
or cause an abatement of rent or operate to release TENANT from any obligations under this LEASE. LANDLORD shall not be liable for any damages arising from any act or neglect of any other tenant of LANDLORD nor from the failure by LANDLORD to
enforce the provisions of any other lease in the project in which the Leased Premises are located. Notwithstanding LANDLORD’s negligence or breach of this LEASE, LANDLORD shall under no circumstances be liable for injury to TENANT’s
business or for any loss of income or profit therefrom. 
 ARTICLE 12: TENANT’S CARE OF THE PREMISES; UTILITIES 

(a) TENANT, at TENANT’s expense, shall keep in good order, condition and repair, in compliance with all Applicable Requirements, the
Leased Premises and every part thereof, including without limiting the generality of the foregoing, all plumbing, electrical and lighting facilities and equipment within the Leased Premises, fixtures, interior walls and interior surfaces of exterior
walls, ceilings, windows, doors, plate glass, skylights, and exterior roll-up doors located within the Leased Premises, but excluding the HVAC system. 

(b) If TENANT fails to perform TENANT’s obligations hereunder, LANDLORD may enter upon the Leased Premises after ten (10) days prior
written notice (except in the case of emergency, in which case no notice shall be required), perform such obligations on TENANT’s behalf and put the Leased Premises in good order, condition and repair, and the costs thereof together with
interest thereon at the maximum rate then allowable by law shall be due and payable as additional rent to LANDLORD together with TENANT’s next monthly rent payment. 

(c) Except as specifically provided to the contrary in Section 4.4 of this LEASE, LANDLORD shall have no obligation to provide any utility
service or connection to the Leased Premises, nor to maintain, upgrade or repair any utility conveyance or connection affecting or serving the Leased Premises. Except as provided hereinabove, Tenant shall pay before delinquency all charges for gas,
heat, electricity, power, telephone service, and all other services of and any connection fees related to all other utilities used in, upon, or about the Leased Premises, whether by TENANT or any of TENANT’s subtenants, licensees, or assignees;
and if, at any time during the term, any such utility for which TENANT is responsible hereunder is not separately metered, TENANT shall reimburse LANDLORD for TENANT’s pro rata share of the cost of the utility determined according to the floor
area of the Leased Premises as it relates to the gross leasable floor area of the portion of the project which is separately metered and that contains the Leased Premises. 

 ARTICLE 13: ALTERATIONS 

13.1 General. 
 (a) During
the term, TENANT will not make or allow to be made any alterations (including changing locks), additions, or improvements to or of the Leased Premises or any part of the Leased Premises, or attach any fixtures or equipment to the Leased Premises,
without first obtaining LANDLORD’s written consent and all applicable governmental approvals. All such alterations, additions, and improvements consented to by LANDLORD, and capital improvements that are required to be made to the project as a
result of the nature of TENANT’s use of the Leased Premises: 
 (1) Will be performed by contractors approved by
LANDLORD and subject to conditions specified by LANDLORD (which may include requiring the posting of a mechanic’s or materialmen’s lien bond, and delivery to LANDLORD of proof of appropriate licensing and insurance coverages then in
effect, including without limitation such liability and workers compensation policies as are required under Applicable Requirements or deemed by LANDLORD to be reasonably necessary); or 

(2) At LANDLORD’s option, will be made by LANDLORD for TENANT’s account, and TENANT will reimburse LANDLORD for their
cost within 10 days after receipt of a statement of such cost. 
 (b) Subject to TENANT’s rights in Article 15, all
alterations, additions, fixtures, and improvements, whether temporary or permanent in character, made in or upon the Leased Premises either by TENANT or LANDLORD, will immediately become LANDLORD’s property and at the end of the term will
remain on the Leased Premises without compensation to TENANT, unless when consenting to such alterations, additions, fixtures, or improvements, LANDLORD has advised TENANT in writing that such alterations, additions, fixtures, or improvements must
be removed at the expiration or other termination of this LEASE. 
 (c) To the extent that any alteration, improvement, or addition to the
Leased Premises by TENANT, or any use of the Leased Premises by TENANT, results in any liability or obligation for LANDLORD to improve, alter or remove any other portion of the project in which the Leased Premises are located, TENANT shall indemnify
and hold LANDLORD free and harmless from any and all costs associated with LANDLORD’s compliance with such obligations. LANDLORD’s consent to alteration, improvement, or addition to the Leased Premises by TENANT, or any use of the Leased
Premises by TENANT, shall not be deemed to constitute any form of warranty, representation or assumption of liability by LANDLORD for any lack of completeness, sufficiency, adequacy or compliance with Applicable Requirements. 

13.2 Removal. If LANDLORD has required TENANT to remove any or all alterations, additions, fixtures, and improvements that are
made in or upon the Leased Premises pursuant to this Article 13 prior to the expiration date, TENANT will remove such alterations, additions, fixtures, and improvements at TENANT’s sole cost and in compliance with all Applicable
Requirements, and TENANT will restore the Leased Premises to the condition in which they existed before such alterations, additions, fixtures, improvements, and additions were made, reasonable wear and tear excepted. 

 ARTICLE 14: MECHANICS’ LIENS 

14.1 Absolutely No Liens. TENANT will pay or cause to be paid all costs and charges for work (a) done by TENANT or caused to
be done by TENANT, in or to the Leased Premises, and (b) for all materials furnished for or in connection with such work. TENANT will indemnify LANDLORD against and hold LANDLORD, the Leased Premises, and the project free, clear, and harmless
of and from all mechanics’ liens and claims of liens, and all other liabilities, liens, claims, and demands on account of such work by or on behalf of TENANT, other than work performed by LANDLORD pursuant to the TENANT Improvement Diagram, if
any. If TENANT receives written notice that a lien has been or is about to be filed against the Leased Premises or the project, or that any action affecting title to the project has been commenced on account of work done by or for or materials
furnished to or for TENANT, it will immediately give LANDLORD written notice of such notice. 
 14.2 Notice to LANDLORD;
Nonresponsibility. At least 15 days prior to the commencement of any work (including but not limited to any maintenance, repairs, alterations, additions, improvements, or installations) in or to the Leased Premises, by or for TENANT, TENANT
will give LANDLORD written notice of the proposed work and the names and addresses of the persons supplying labor and materials for the proposed work. LANDLORD will have the right to post notices of nonresponsibility or similar written notices on
the Leased Premises in order to protect the Leased Premises against any such liens. 
 ARTICLE 15: END OF TERM 

15.1 Condition of Premises. At the end of this LEASE, TENANT will promptly quit and surrender the Leased Premises broom-clean, in good order and repair, ordinary wear and tear excepted. Any damage or deterioration of the Leased Premises shall not be deemed ordinary wear and tear if the same could have been prevented by good
maintenance practices. Notwithstanding anything to the contrary otherwise stated in this LEASE, TENANT shall leave the air lines, power panels, electrical distribution systems, lighting fixtures, space heaters, air conditioning, plumbing and fencing
on the Leased Premises in good operating condition. 
 15.2 Alterations, Additions and Improvements. If TENANT is not then in
default, TENANT may remove from the Leased Premises any trade fixtures, equipment, and movable furniture placed in the Leased Premises by TENANT, whether or not such trade fixtures or equipment are fastened to the building; TENANT will not remove
any trade fixtures or equipment without LANDLORD’s prior written consent if such fixtures or equipment are used in the operation of the building, or if the removal of such fixtures or equipment will result in impairing the structural strength
of the building. Whether or not TENANT is in default, TENANT will remove such alterations, additions, improvements, trade fixtures, equipment, and furniture as LANDLORD has requested in accordance with Article 13. TENANT will fully repair any
damage occasioned by the removal of any trade fixtures, equipment, furniture, alterations, additions, and improvements. All trade fixtures, equipment, furniture, inventory, effects, alterations, additions, and improvements on the Leased Premises
after the end of the term will be deemed conclusively to have been abandoned and may be appropriated, sold, stored, destroyed, or otherwise disposed of by LANDLORD without written notice to TENANT or any other person and without obligation to
account for them. TENANT will pay LANDLORD for all expenses incurred in connection with the removal of such property, including but not limited to the cost of repairing any damage to the building or Leased Premises caused by the removal of such
property. TENANT’s obligation to observe and perform this covenant will survive the expiration or other termination of this LEASE. 

 ARTICLE 16: EMINENT DOMAIN 

If all of the Leased Premises are taken by exercise of the power of eminent domain (or conveyed by LANDLORD in lieu of such exercise) this
LEASE will terminate on a date (the “termination date”) which is the earlier of the date upon which the condemning authority takes possession of the Leased Premises or the date on which title to the Leased Premises is vested in the
condemning authority. If more than 25% of the rentable area of the Leased Premises is so taken, TENANT will have the right to cancel this LEASE by written notice to LANDLORD given within 20 days after the termination date. If less than 25% of the
rentable area of the Leased Premises is so taken, or if the TENANT does not cancel this LEASE according to the preceding sentence, the monthly rent will be abated in the proportion of the rentable area of the Leased Premises so taken to the rentable
area of the Leased Premises immediately before such taking, and TENANT’s share will be appropriately recalculated. If 25% or more of the building or the project is so taken, LANDLORD may cancel this LEASE by written notice to TENANT given
within 30 days after the termination date. In the event of any such taking, the entire award is hereby assigned by TENANT to LANDLORD, and such award will therefore be paid to LANDLORD. TENANT will have no right or claim to any part of such award;
however, TENANT will have the right to assert a claim against the condemning authority in a separate action, so long as LANDLORD’s award is not otherwise reduced, for TENANT’s moving expenses and leasehold improvements owned by TENANT.
Notwithstanding anything to the contrary set forth herein, TENANT hereby waived any and all rights which TENANT might otherwise have had pursuant to Section 1265.130 of the California Code of Civil Procedure and any successor or substantially
similar statute(s). 
 ARTICLE 17: DAMAGE AND DESTRUCTION 

(a) If the Leased Premises or the building are damaged by fire or other insured casualty, LANDLORD will give TENANT written notice of the time
which will be needed to repair such damage, as determined by LANDLORD in its reasonable discretion, and the election (if any) which LANDLORD has made according to this Article 17. Such notice will be given before the 30th day (the “notice
date”) after the fire or other insured casualty. 
 (b) If the Leased Premises or the building are damaged by fire or other insured
casualty to an extent which may be repaired within 120 days after the notice date, as reasonably determined by LANDLORD, LANDLORD will promptly begin to repair the damage after the notice date and will diligently pursue the completion of such
repair. In that event this LEASE will continue in full force and effect except that monthly rent will be abated on a pro rata basis from the date of the damage until the date of the completion of such repairs (the “repair period”) based on
the proportion of the rentable area of the Leased Premises TENANT is unable to use during the repair period. 
 (c) If the Leased Premises or
the building are damaged by fire or other insured casualty to an extent that may not be repaired within 120 days after the notice date, as reasonably determined by LANDLORD, then (1) LANDLORD may cancel this LEASE as of the date of such damage
by written notice given to TENANT on or before the notice date or (2) TENANT may cancel this LEASE as of the date of such damage by written notice given to LANDLORD within 10 days after LANDLORD’s delivery of a written notice that the
repairs cannot be made within such 120-day period. If neither LANDLORD nor TENANT so elects to cancel this LEASE, LANDLORD will diligently proceed to repair the building and Leased Premises and monthly rent
will be abated on a pro rata basis during the repair period based on the proportion of the rentable area of the Leased Premises TENANT is unable to use during the repair period. 

 (d) Notwithstanding the provisions of subparagraphs (a), (b), and (c) above, if the
Leased Premises or the building are damaged by uninsured casualty, or if the proceeds of insurance are insufficient to pay for the repair of any damage to the Leased Premises or the building, LANDLORD will have the option to repair such damage or
cancel this LEASE as of the date of such casualty by written notice to TENANT on or before the notice date. 
 (e) If any such damage by fire
or other casualty is the result of the willful conduct or negligence or failure to act of TENANT, its agents, contractors, employees, or invitees, there will be no abatement of monthly rent as otherwise provided for in this Article 17. TENANT
will have no rights to terminate this LEASE on account of any damage to the Leased Premises, the building, or the project, except as set forth in this LEASE, and TENANT hereby waives the terms of any inconsistent statute or regulation of the State
of California. 
 ARTICLE 18: SUBORDINATION 

18.1 Subordination. This LEASE shall be subject and subordinate to any ground lease, mortgage, deed of trust, or other
hypothecation or security device (collectively, “Security Device”), now or hereafter placed by LANDLORD upon the real property of which the Leased Premises are a part, to any and all advances made on the security thereof, and to all
renewals, modifications, consolidations, replacements and extensions thereof. TENANT agrees that the Lenders holding any such Security Device shall have no duty, liability or obligation to perform any of the obligations of LANDLORD under this Lease,
but that in the event of LANDLORD’s default with respect to any such obligation, TENANT will give any Lender whose name and address have been furnished TENANT in writing for such purpose notice of LANDLORD’s default pursuant to
Section 26.17. If any Lender shall elect to have this LEASE superior to the lien of its Security Device and shall give written notice thereof to TENANT, this Lease shall be deemed prior to such Security Device, notwithstanding the relative
dates of the documentation or recordation thereof. 
 18.2 Attornment. Subject to the
non-disturbance provisions of Section 18.3, TENANT agrees to attorn to a Lender or any other party who acquires ownership of the Leased Premises by reason of a foreclosure of a Security Device, and that
in the event of such foreclosure, such new owner shall not: (i) be liable for any act or omission of any prior landlord or with respect to events occurring prior to acquisition of ownership, (ii) be subject to any offsets or defenses which
TENANT might have against any prior landlord, or (iii) be bound by prepayment of more than one month’s rent. 
 18.3
Non-Disturbance. With respect to Security Devices entered into by LANDLORD after the execution of this LEASE, TENANT’s subordination of this LEASE shall be subject to receiving assurance (a “non-disturbance agreement”) from the Lender that TENANT’s possession and this Lease will not be disturbed so long as TENANT is not in breach hereof and attorns to the record owner of the Leased
Premises. 

 18.4 Self-Executing. The
agreements contained in this Article 18 shall be effective without the execution of any further documents; provided, however, that upon written request from LANDLORD or a Lender in connection with a sale, financing or refinancing of the Leased
Premises, TENANT and LANDLORD shall execute such further writings as may be reasonably required to separately document any such subordination or non-subordination, attornment and/or non-disturbance agreement as is provided for herein. 
 ARTICLE 19: ENTRY BY LANDLORD 

19.1 LANDLORD, its agents, employees, and contractors may enter the Leased Premises at any time in response to an emergency, and
at reasonable hours to: (a) inspect the Leased Premises; (b) exhibit the Leased Premises to prospective purchasers, lenders, tenants, brokers, or agents; (c) determine whether TENANT is complying with all its obligations in this
LEASE; (d) any service to be provided by LANDLORD to TENANT according to this LEASE; (e) post written notices of nonresponsibility or similar notices; or (f) make repairs required of LANDLORD under the terms of this LEASE or make
repairs to any adjoining space or utility services or make repairs, alterations, or improvements to any other portion of the building; however, all such work will be done as promptly as is reasonably possible and with the intention to cause as
little interference to TENANT as is reasonably possible. LANDLORD may at any time during the last ninety (90) days of the Lease Term place on or about the Leased Premises, the building, or the project any “for lease” or other signs or
notices advertising LANDLORD’s expectation that the Leased Premises will become available for leasing or rental. TENANT, by this Section 19.1, waives any claim against LANDLORD, its agents, employees, or contractors for damages for any
injury or inconvenience to or interference with TENANT’s business, any loss of occupancy or quiet enjoyment of the Leased Premises, or any other loss occasioned by any entry in accordance with this Section 19.1. LANDLORD will at all times
have and retain a key with which to unlock all of the doors in, on, or about the Leased Premises (excluding TENANT’s vaults, safes, and similar areas, if any, designated in writing by TENANT in advance). LANDLORD will have the right to use any
and all means LANDLORD may deem proper to open doors in and to the Leased Premises in an emergency in order to obtain entry to the Leased Premises, provided that LANDLORD will promptly repair any damages caused by any forced entry. Any entry to the
Leased Premises by LANDLORD in accordance with this Article 19 will not be construed or deemed to be a forcible or unlawful entry into or a detainer of the Leased Premises or an eviction, actual or constructive, of TENANT from the Leased
Premises or any portion of the Leased Premises, nor will any such entry entitle TENANT to damages or an abatement of monthly Base Rent, additional rent, or any other charges that this LEASE requires TENANT to pay. 

ARTICLE 20: INDEMNIFICATION, WAIVER, AND RELEASE 

20.1 Indemnification. Except for LANDLORD’s willful or deliberate misconduct, and/or intentional breach of express
warranties, TENANT shall indemnify, protect, defend and hold harmless the Leased Premises and project in which the Leased Premises are located, LANDLORD and its agents, LANDLORD’s master or ground LANDLORD (if any), partners and lenders, from
and against any and all claims, loss of rents and/or damages, costs, liens, judgments, penalties, loss of permits, attorneys’ and consultants’ fees, expenses and/or liabilities arising out of, involving, or in connection with, the use or
occupancy of the Leased Premises by 

 
TENANT, the conduct of TENANT’s business, any act, omission or neglect of TENANT, its agents, contractors, employees or invitees, and out of any default or breach by TENANT in the
performance in a timely manner of any obligation on TENANT’s part to be performed under this LEASE, including without limitation TENANT’s obligations regarding compliance with Applicable Requirements. The foregoing shall include, but not
be limited to, the defense or pursuit of any claim or any action or proceeding involved therein, and whether or not (in the case of claims made against LANDLORD) litigated and/or reduced to judgment. In case any action or proceeding be brought
against LANDLORD by reason of any of the foregoing matters, TENANT upon notice from LANDLORD shall defend the same at TENANT’s expense by counsel reasonably satisfactory to LANDLORD and LANDLORD shall cooperate with TENANT in such defense.
LANDLORD need not have first paid any such claim in order to be so indemnified. 
 20.2 Waiver and Release. TENANT, as a
material part of the consideration to LANDLORD for this LEASE, by this Section 20.2 waives and releases all claims against LANDLORD, its employees, and agents with respect to all matters for which LANDLORD has disclaimed liability pursuant to
the provisions of this LEASE. It is understood by each of the Parties that Section 1542 of the Civil Code of California provides as follows: 

A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the
release, which if known by him must have materially affected his settlement with the debtor. 
 With regard to this Section 20.2, Section 1542 of
the Civil Code of California is hereby expressly waived by TENANT. 
 TENANT’S Initials: /s/ BB / /s/ MW 

ARTICLE 21: SECURITY DEPOSIT 
 21.1
LANDLORD’s Use of Security Deposit. TENANT has deposited the security deposit with LANDLORD as security for the full, faithful, and timely performance of every provision of this LEASE to be performed by TENANT. If TENANT defaults with
respect to any provision of this LEASE, including but not limited to the provisions relating to the payment of rent, including without limitation any additional rent, attorney’s fees or other sums due hereunder, LANDLORD may use, apply, or
retain all or any part of the security deposit for the payment of any rent, additional rent, or any other sum in default, or for the payment of any other amount LANDLORD may spend or become obligated to spend by reason of TENANT’s default, or
to compensate LANDLORD for any other loss, damage, costs or attorney’ fees LANDLORD may suffer by reason of TENANT’s breach or default under the LEASE. If any portion of the security deposit is so used, applied, or retained, TENANT will
within five (5) days after written demand deposit cash with LANDLORD in an amount sufficient to restore the security deposit to its original amount. LANDLORD will not be required to keep the security deposit separate from its general funds, and
TENANT will not be entitled to interest on the security deposit. The security deposit will not be deemed a limitation on LANDLORD’s damages or a payment of liquidated damages or a payment of the monthly rent due for the last month of the term.
If 

 
TENANT fully, faithfully, and timely performs every provision of this LEASE to be performed by it, the security deposit or any balance of the security deposit will be returned to TENANT within 60
days after the expiration of the term. LANDLORD may deliver the funds deposited under this LEASE by TENANT to the purchaser of the building in the event the building is sold, and after such time LANDLORD will have no further liability to TENANT with
respect to the security deposit. Subject to the foregoing, TENANT hereby waives the provisions of Section 1950.7 of the California Civil Code, and all other provisions of law, now or hereafter in force, which (a) establish a time frame
within which a landlord must refund a security deposit under a lease, and/or (b) provide that LANDLORD may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by
TENANT or to clean the Premises, it being agreed that LANDLORD may, in addition, claim those sums reasonably necessary to compensate LANDLORD for any other loss or damage caused by the default of Tenant under this Lease, including without limitation
all damages or rent due upon termination of this Lease pursuant to Section 1951.2 of the California Civil Code. The amount of the security deposit is determined with reference to the base rent, such that the security deposit shall be increased
periodically, on a pro rata basis, to represent increases in the base rent. 
 21.2 Nature of LANDLORD’s Retention of Security
Deposit. TENANT agrees that during the term of the LEASE, the security deposit shall be deemed the property of the LANDLORD and not that of the TENANT, subject only to the LANDLORD’s legal duties to apply or refund the security deposit in
accordance with California law. $50.00 of this security deposit is a non-refundable document preparation fee. The parties acknowledge that LANDLORD’s interest in the security deposit is perfected, as that
term is defined in the California Commercial Code. 
 ARTICLE 22: QUIET ENJOYMENT 

LANDLORD covenants and agrees with TENANT that, provided that TENANT timely pays all rent, and strictly observes and timely performs all the
terms, covenants, and conditions of this LEASE on TENANT’s part to be observed and performed, TENANT may peaceably and quietly enjoy the Leased Premises subject, nevertheless, to the terms, conditions and limitations of this LEASE, and
TENANT’s possession will not be disturbed by anyone claiming by, through, or under LANDLORD. 
 ARTICLE 23: EFFECT OF SALE 

A sale, conveyance, or assignment of the building or the project will operate to release LANDLORD from liability from and after the effective
date of such sale, conveyance, or assignment upon all of the covenants, terms, and conditions of this LEASE, express or implied, except those liabilities that arose prior to such effective date, and, after the effective date of such sale,
conveyance, or assignment, TENANT will look solely to LANDLORD’s successor in interest in and to this LEASE. This LEASE will not be affected by any such sale, conveyance, or assignment, and TENANT will attorn to LANDLORD’s successor in
interest to this LEASE, so long as such successor in interest assumes LANDLORD’s obligations under the LEASE from and after such effective date. 

 ARTICLE 24: DEFAULT 

24.1 Events of Default. The following events are referred to, collectively, as “events of default” or, individually, as
a “breach,” “default,” or an “event of default”: 
 (a) TENANT defaults in the due and punctual payment of
rent, and such default continues for 3 days after written notice from LANDLORD; however, TENANT will not be entitled to more than 1 written notice for monetary defaults during any 12-month period, and if after
such written notice any rent is not paid when due, an event of default will be considered to have occurred without further notice; 
 (b)
TENANT vacates or abandons the Leased Premises; 
 (c) This LEASE or the Leased Premises or any part of the Leased Premises are taken upon
execution or by other process of law directed against TENANT, or are taken upon or subject to any attachment by any creditor of TENANT or claimant against TENANT, and said attachment is not discharged or disposed of within 15 days after its levy;

 (d) TENANT files a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy laws of the United
States or under any insolvency act of any state, or admits the material allegations of any such petition by answer or otherwise, or is dissolved or makes an assignment for the benefit of creditors; 

(e) Involuntary proceedings under any such bankruptcy law or insolvency act or for the dissolution of TENANT are instituted against TENANT, or
a receiver or trustee is appointed for all or substantially all of the property of TENANT, and such proceeding is not dismissed or such receivership or trusteeship vacated within 60 days after such institution or appointment; 

(f) TENANT fails to take possession of the Leased Premises on the Commencement Date of the term; or 

(g) TENANT breaches any of the other agreements, terms, covenants, or conditions that this LEASE requires TENANT to perform, and such breach
continues for a period of thirty (30) days after written notice from LANDLORD to TENANT or, if such breach cannot be cured reasonably within such 30-day period, if TENANT fails to diligently commence to
cure such breach within 30 days after written notice from LANDLORD and to complete such cure within a reasonable time thereafter. 

24.2 LANDLORD’s Remedies. If TENANT fails to perform any affirmative duty or obligation of TENANT under this Lease, within
ten (10) days after written notice to TENANT (or in case of an emergency, without notice), LANDLORD may at its option (but without obligation to do so), perform such duty or obligation on TENANT’s behalf including but not limited to the
obtaining of reasonably required bonds, insurance policies, or governmental licenses, permits or approvals. The costs and expenses of any such performance by LANDLORD shall be due and payable by TENANT to LANDLORD upon invoice therefor. In the event
of a default of this Lease by TENANT, as defined in Section 24.1, with or without further notice or demand, and without limiting LANDLORD in the exercise of any right or remedy which LANDLORD may have by reason of such breach, LANDLORD may:

 (a) Terminate TENANT’s right to possession of the Premises by any lawful means, in
which case this Lease and the term hereof shall terminate and TENANT shall immediately surrender possession of the Premises to LANDLORD. In such event LANDLORD shall be entitled to recover from TENANT: (i) the worth at the time of the award of
the unpaid rent which had been earned at the time of termination; (ii) the worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such
rental loss that the TENANT proves could have been reasonably avoided; (iii) the worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that
the TENANT proves could be reasonably avoided; and (iv) any other amount necessary to compensate LANDLORD for all the detriment proximately caused by the TENANT’s failure to perform its obligations under this Lease or which in the ordinary
course of things would be likely to result therefrom, including but not limited to the cost of recovering possession of the Premises, expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorneys’
fees, and that portion of the leasing commission paid by LANDLORD applicable to the unexpired term of this Lease. The worth at the time of award of the amount referred to in provisions (i) and (ii) of the prior sentence shall be calculated
based on an interest rate equal to the highest rate permitted by applicable law. The worth at the time of award of the amount referred to in provision (iii) of the prior sentence shall be computed by discounting such amount at the discount rate
of the Federal Reserve Bank of San Francisco at the time of award plus one percent. Efforts by LANDLORD to mitigate damages caused by TENANT’s breach of this Lease shall not waive LANDLORD’s right to recover damages under this
Paragraph. If termination of this Lease is obtained through the provisional remedy of unlawful detainer, LANDLORD shall have the right to recover in such proceeding the unpaid rent and damages as are recoverable therein, or LANDLORD may reserve
therein the right to recover all or any part thereof in a separate suit for such rent and/or damages. If a notice and grace period required under Sections 24.1(a) or (g) was not previously given, a notice to pay rent or quit, or to perform
or quit, as the case may be, given to TENANT under any statute authorizing the forfeiture of leases for unlawful detainer shall also constitute the applicable notice for grace period purposes required by Sections 24.1(a) or (g). In such case,
the applicable grace period under Sections 24.1(a) or (g) and under the unlawful detainer statute shall run concurrently after the one such statutory notice, and the failure of TENANT to cure the default within the greater of the two such
grace periods shall constitute both an unlawful detainer and breach of this Lease entitling LANDLORD to the remedies provided for in this Lease and/or by said statute. 

(b) Continue the Lease and TENANT’s right to possession in effect (in California under California Civil Code Section 1951.4) after
TENANT’s breach and abandonment and recover the rent as it becomes due, provided TENANT has the right to sublet or assign, subject only to reasonable limitations. See Article 8 for the limitations on assignment and subletting which
limitations TENANT and LANDLORD agree are reasonable. Acts of maintenance or preservation, efforts to relet the Premises, or the appointment of a receiver to protect the LANDLORD’s interest under the Lease, shall not constitute a termination of
the TENANT’s right to possession. 
 (c) Pursue any other remedy now or hereafter available to LANDLORD under the laws or judicial
decisions of the State of California. Unpaid installments of rent and other unpaid monetary obligations of TENANT under the terms of this Lease shall bear interest from the date due at the maximum rate allowed by law. 

 (d) The expiration or termination of this Lease and/or the termination of TENANT’s
right to possession shall not relieve TENANT from liability under any indemnity provisions of this Lease as to matters occurring or accruing during the term hereof or by reason of TENANT’s occupancy of the Premises. 

24.3 Cumulative Remedies; Attorneys’ Fees. Any suit or suits for the recovery of the amounts and damages set forth in
Section 24.2 may be brought by LANDLORD, from time to time, at LANDLORD’s election, and nothing in this LEASE will be deemed to require LANDLORD to await the date upon which this LEASE or the term would have expired had there occurred no
event of default. Each right and remedy provided for in this LEASE is cumulative and is in addition to every other right or remedy provided for in this LEASE or now or after the Lease Date existing at law or in equity or by statute or otherwise, and
the exercise or beginning of the exercise by LANDLORD of any one or more of the rights or remedies provided for in this LEASE or now or after the Lease Date existing at law or in equity or by statute or otherwise will not preclude the simultaneous
or later exercise by LANDLORD of any or all other rights or remedies provided for in this LEASE or now or after the Lease Date existing at law or in equity or by statute or otherwise. All costs incurred by LANDLORD in collecting any amounts and
damages owing by TENANT pursuant to the provisions of this LEASE or to enforce any provision of this LEASE, including reasonable attorneys’ fees from the date any such matter is turned over to an attorney, whether or not one or more actions are
commenced by LANDLORD, will also be recoverable by LANDLORD from TENANT. If any party brings an action or proceeding to enforce the terms hereof or declare rights hereunder, the Prevailing Party (as hereafter defined) in any such proceeding, action,
or appeal thereon, shall be entitled to reasonable attorneys’ fees. Such fees may be awarded in the same suit or recovered in a separate suit, whether or not such action or proceeding is pursued to decision or judgment. The term
“Prevailing Party” shall include, without limitation, a party which substantially obtains or defeats the relief sought, as the case may be, whether by compromise, settlement, judgment, or the abandonment by the other party of its claim or
defense. The attorneys’ fee award shall not be computed in accordance with any court fee schedule, but shall be such as to fully reimburse all attorneys’ fees reasonably incurred. LANDLORD shall be entitled to attorneys’ fees, costs
and expenses incurred in preparation and service of notices of default and consultations in connection therewith, whether or not a legal action is subsequently commenced in connection with such default. 

24.4 Inducement Recapture In Event of Breach. Any agreement by LANDLORD for free or abated rent or other charges applicable to
the Leased Premises, or for the giving or paying by LANDLORD to or for TENANT of any cash or other bonus, inducement or consideration for TENANT’s entering into this LEASE, all of which concessions are hereinafter referred to as
“Inducement Provisions” shall be deemed conditioned upon TENANT’s full and faithful performance of all of the terms, covenants and conditions of this LEASE to be performed or observed by TENANT during the term hereof as the same may
be extended. Upon the occurrence of a breach, default or event of default, as defined in this LEASE, by TENANT, any such Inducement Provision shall automatically be deemed deleted from this LEASE and of no further force or effect, and any rent,
other charge, bonus, inducement or consideration theretofore 

 
abated, given or paid by LANDLORD under such an inducement Provision shall be immediately due and payable by TENANT to LANDLORD, and recoverable by LANDLORD, as additional rent due under this
LEASE, notwithstanding any subsequent cure of said breach, default or event of default by TENANT. The acceptance by LANDLORD of rent or the cure of the breach, default or event of default which initiated the operation of this Section 24.6 shall
not be deemed a waiver by LANDLORD of the provisions of this Section 24.4 unless specifically so stated in writing by LANDLORD at the time of such acceptance. 

24.5 Confidentiality. Tenant acknowledges and agrees that the terms of this Lease are confidential and constitute proprietary
information of Landlord. Disclosure of the terms hereof could adversely affect the ability of Landlord to negotiate other leases with respect to the Project and may impair Landlord’s relationship with other tenants of the Project. Tenant agrees
that it and its partners, officers, directors, employees, brokers, and attorneys, if any, shall not disclose the terms and conditions of this Lease to any other person or entity without the prior written consent of Landlord, which may be given or
withheld by Landlord, in Landlord’s sole discretion. It is understood and agreed that damages alone would be an inadequate remedy for the breach of this provision by Tenant, and Landlord shall also have the right to seek specific performance of
this provision and to seek injunctive relief to prevent its breach or continued breach. 
 24.6 Waiver of Redemption. TENANT
waives any right of redemption arising as a result of LANDLORD’s exercise of its remedies under this Article 24. 
 ARTICLE 25: VEHICLE PARKING

 During the term of the LEASE and subject to the Rules and Regulations set forth in Exhibit C, TENANT shall be entitled to use the
number of unassigned, unreserved and nondesignated Parking Spaces specified in Section 1.1(i) on those portions of the common areas designated from time to time by LANDLORD for parking. TENANT shall not use more parking spaces than said number.
Said parking spaces shall be used for parking by vehicles no larger than full-size passenger automobiles or pick-up trucks, herein called “Permitted Size
Vehicles.” Vehicles other than Permitted Size Vehicles shall be parked and loaded or unloaded as directed by LANDLORD in such rules and regulations as may be issued by LANDLORD from time to time. TENANT shall not permit or allow any
vehicles that belong to or are controlled by TENANT or TENANT’s employees, suppliers, shippers, customers, contractors or invitees to be loaded, unloaded, or parked in areas other than those designated by LANDLORD for such activities. If TENANT
permits or allows any of the prohibited activities described in this Article 25 or in the Rules and Regulations set forth in Exhibit “C,” then LANDLORD shall have the right, without notice, in addition to such other rights and
remedies that it may have, to remove or tow away the vehicle involved and charge the cost to TENANT, which cost shall be immediately payable upon demand by LANDLORD. 

ARTICLE 26: MISCELLANEOUS 
 26.1
No Offer. This LEASE is submitted to TENANT on the understanding that it will not be considered an offer and will not bind LANDLORD in any way until TENANT has duly executed and delivered duplicate originals to LANDLORD and LANDLORD has
executed and delivered one of such originals to TENANT. 

 26.2 Joint and Several Liability. If TENANT is composed of more than one
signatory to this LEASE, each signatory will be jointly and severally liable with each other signatory for payment and performance according to this LEASE. The act of, written notice to, written notice from, refund to, or signature of any signatory
to this LEASE (including without limitation modifications of this LEASE made by fewer than all such signatories) will bind every other signatory as though every other signatory had so acted, or received or given the written notice or refund, or
signed. 
 26.3 No Construction Against Drafting Party. LANDLORD and TENANT acknowledge that each of them and their counsel, if
desired, have had ample opportunity to review this LEASE and have used that opportunity to so review this LEASE. Therefore, this LEASE shall not be construed against LANDLORD merely because LANDLORD has prepared it. 

26.4 Time of the Essence. Time is of the essence of each and every provision of this LEASE. 

26.5 Additional Rent. Any and all amounts that this LEASE requires TENANT to pay in addition to monthly Base Rent, regardless of
the reason for such payment, including without limitation CAM Charges, late charges, interest, attorney’s fees, legal and other costs resulting from any default by TENANT, and bank charges for dishonored checks issued by TENANT, shall be deemed
“additional rent.” References to rent throughout this LEASE shall be to monthly Base Rent and to any additional rent. 

26.6 No Waiver. The waiver by LANDLORD of any agreement, condition, or provision contained in this LEASE will not be deemed to be
a waiver of any subsequent breach of the same or any other agreement, condition, or provision contained in this LEASE, nor will any custom or practice that may grow up between the parties in the administration of the terms of this LEASE be construed
to waive or to lessen the right of LANDLORD to insist upon the performance by TENANT in strict accordance with the terms of this LEASE. The subsequent acceptance of monthly Base Rent, or of any other sum, by LANDLORD will not be deemed to be a
waiver of any preceding breach by TENANT of any agreement, condition, or provision of this LEASE, other than the failure of TENANT to pay the particular rent so accepted, regardless of LANDLORD’s knowledge of such preceding breach at the time
of acceptance of such rent. No receipt or acceptance by LANDLORD of any partial or lesser payment than the monthly Base Rent or other sum(s) then due and payable under the LEASE shall be considered to be other than a partial payment of the earliest
amount then due to LANDLORD under the LEASE, and no limitation on endorsement, notation regarding conditional tender, or other statement on the check (or any letter tendered with or attachment to any such payment) representing any payment from
TENANT to LANDLORD shall be operative as or deemed to be effective as an accord and satisfaction or other discharge of any TENANT obligation other than as provided herein. LANDLORD may accept partial payments from TENANT without prejudice to
LANDLORD’s right to recover all other sums due from TENANT, and without prejudice to any right of LANDLORD to immediately pursue all rights and remedies against TENANT for any default, breach or event of default which has not been fully and
cured by such payment. LANDLORD’s acceptance of partial payment of rent does not constitute a waiver of any rights, including without limitation any right LANDLORD may have to recover possession of the Premises. 

 26.7 Limitation on Recourse. TENANT specifically agrees to look solely to
LANDLORD’s interest in the project for the recovery of any judgments from LANDLORD. It is agreed that LANDLORD (and its members, shareholders, venturers, and partners, and their members, shareholders, venturers, and partners and all of their
officers, directors, and employees) will not be personally liable for any such judgments. The provisions contained in the preceding sentences are not intended to and will not limit any right that TENANT might otherwise have to obtain injunctive
relief against LANDLORD. 
 26.8 Estoppel Certificates. At any time and from time to time but within 10 days after prior
written request by LANDLORD, TENANT will execute, acknowledge, and deliver to LANDLORD, promptly upon request, a certificate certifying (a) that this LEASE is unmodified and in full force and effect or, if there have been modifications, that
this LEASE is in full force and effect, as modified, and stating the date and nature of each modification; (b) the date, if any, to which rent and other sums payable under this LEASE have been paid; (c) that no written notice of any
default has been delivered to LANDLORD which default has not been cured, except as to defaults specified in said certificate; (d) that there is no event of default under this LEASE or an event which, with notice or the passage of time, or both,
would result in an event of default under this LEASE, except for defaults specified in said certificate; and (e) such other matters as may be reasonably requested by LANDLORD. Any such certificate may be relied upon by any prospective purchaser
or existing or prospective mortgagee or beneficiary under any deed of trust of the building or any part of the project. TENANT’s failure to deliver such a certificate within such time will be conclusive evidence of the matters set forth in it.

 26.9 Waiver of Jury Trial; Limitation of Actions. LANDLORD and TENANT by this Section 26.9 waive trial by jury in any
action, proceeding, or counterclaim brought by either of the parties to this LEASE against the other on any matters whatsoever arising out of or in any way connected with this LEASE, the relationship of LANDLORD and TENANT, TENANT’s use or
occupancy of the Leased Premises, or any other claims (except claims for personal injury or property damage), and any emergency statutory or any other statutory remedy. Any claim, demand, right, or defense by TENANT that arises out of this LEASE or
the negotiations that preceded this LEASE shall be barred unless TENANT commences an action thereon, or interposes a defense by reason thereof, within six (6) months after the date of the inaction, omission, event, or action that gave rise to
such claim, demand, right, or defense. TENANT acknowledges and understands, after having consulted with its legal counsel, that the purpose of the immediately foregoing provision is to shorten the period within which TENANT would otherwise have to
raise such claims, demands, rights, or defenses under Applicable Requirements. 
 26.10 No Merger. The voluntary or other
surrender of this LEASE by TENANT or the cancellation of this LEASE by mutual agreement of TENANT and LANDLORD or the termination of this LEASE on account of TENANT’s default will not work a merger, and will, at LANDLORD’s option,
(a) terminate all or any subleases and subtenancies or (b) operate as an assignment to LANDLORD of all or any subleases or subtenancies. LANDLORD’s option under this Section 26.10 will be exercised by written notice to TENANT and
all known sublessees or subtenants in the Leased Premises or any part of the Leased Premises. 

 26.11 Holding Over. TENANT will have no right to remain in possession of all
or any part of the Leased Premises after the expiration of the term. If TENANT remains in possession of all or any part of the Leased Premises after the expiration of the term, with the express or implied consent of LANDLORD: (a) such tenancy
will be deemed to be a periodic tenancy from month-to-month only; (b) such tenancy will not constitute a renewal or extension of this LEASE for any further term;
and (c) such tenancy may be terminated by LANDLORD upon the earlier of 30 days’ prior written notice or the earliest date permitted by law. The parties recognize and agree that the damage to LANDLORD resulting from any failure by TENANT to
timely surrender possession of the Leased Premises will be substantial, will exceed the amount of the monthly installments of the rent payable hereunder, and will be impossible to measure accurately. TENANT therefore agrees that if possession of the
Leased Premises is not surrendered to LANDLORD upon the Expiration Date or sooner termination of the LEASE, in addition to any other rights or remedies LANDLORD may have hereunder or at law, TENANT shall pay to LANDLORD, as liquidated damages, for
each month and for each portion of any month during which TENANT holds over in the Leased Premises after the Expiration Date or sooner termination of this LEASE, a sum equal to two (2) times the aggregate of that portion of the Monthly Base
Rent and additional rent that was payable under this LEASE during the last month of the term. Nothing herein contained shall be deemed to permit TENANT to retain possession of all or any part of the Leased Premises after the Expiration Date or
sooner termination of the LEASE. The provisions of this Section 26.11 shall survive the Expiration Date or sooner termination of this LEASE. 

26.12 Notices. 
 (a)
Notice Requirements. All notices required or permitted by this LEASE shall be in writing and may be delivered in person (by hand or by messenger or courier service) or may be sent by regular, certified or registered mail or U.S. Postal
Service Express Mail, with postage prepaid, or by facsimile transmission during normal business hours, and shall be deemed sufficiently given if served in a manner specified in this Section 26.12(a). The addresses noted in Section 1.1 of
Tenant Specific Terms of this LEASE shall be that party’s address for delivery or mailing of notice purposes. If a party’s fax number is specified at Section 1.1 of Tenant Specific Terms, until the party specifying the fax number has
delivered to the other party a written notice (delivered as provided herein) of such party’s new fax number, the use of such party’s last designated fax number shall be deemed sufficient for purposes of this provision. Either party may by
written notice to the other specify a different address for notice purposes, except that upon TENANT’s taking possession of the Leased Premises, the Leased Premises shall constitute TENANT’s address for the purpose of mailing or delivering
notices to TENANT. A copy of all notices required or permitted to be given to LANDLORD hereunder shall be concurrently transmitted to such party or parties at such addresses as LANDLORD may from time to time hereafter designate by written notice to
TENANT. 
 (b) Effective Date of Notice. Any notice sent by registered or certified mail, return receipt requested, shall be deemed
given on the date of delivery shown on the receipt card, or if no delivery date is shown, the postmark thereon. If sent by regular mail, the notice shall be deemed given forty-eight (48) hours after the
same is addressed as required herein and mailed with postage prepaid. Notices delivered by United States Express Mail or overnight courier that guarantees next day delivery shall be deemed given twenty-four
(24) hours after delivery of the 

 
same to the United States Postal Service or courier. If any notice is transmitted by facsimile transmission or similar means, the same shall be deemed served or delivered upon telephone or
facsimile confirmation of receipt of the transmission thereof, provided a copy is also delivered via delivery or mail. If notice is received on a Saturday or a Sunday or a legal holiday, it shall be deemed received on the next business day. 

26.13 Severability. If any provision of this LEASE proves to be illegal, invalid, or unenforceable, the remainder of this LEASE
will not be affected by such finding, and in lieu of each provision of this LEASE that is illegal, invalid, or unenforceable a provision will be added as a part of this LEASE as similar in terms to such illegal, invalid, or unenforceable provision
as may be possible and be legal, valid, and enforceable. 
 26.14 Written Amendment Required. No amendment, alteration,
modification of, or addition to the LEASE will be valid or binding unless expressed in writing and signed by LANDLORD and TENANT. TENANT agrees to make any modifications of the terms and provisions of this LEASE required or requested by any lending
institution providing financing for the building, or project, as the case may be, provided that no such modifications will materially adversely affect TENANT’s rights and obligations under this LEASE. 

26.15 Entire Agreement. This LEASE, the exhibits and addenda, if any, contain the entire agreement between LANDLORD and TENANT.
No promises or representations, except as contained in this LEASE, have been made to TENANT respecting the condition or the manner of operating the Leased Premises, the building, or the project. 

26.16 Captions. The captions of the various articles and sections of this LEASE are for convenience only and do not
necessarily define, limit, describe, or construe the contents of such articles or sections. 
 26.17 Notice of Landlord’s
Default. In the event of any alleged default in the obligation of LANDLORD under this LEASE, TENANT will deliver to LANDLORD written notice listing the reasons for LANDLORD’s default and LANDLORD will have 30 days following receipt of such
notice to cure such alleged default or, in the event the alleged default cannot reasonably be cured within a 30-day period, to commence action and proceed diligently to cure such alleged default. A copy of
such notice to LANDLORD will be sent to any holder of a mortgage or other encumbrance on the building or project of which TENANT has been notified in writing, and any such holder will also have the same time periods to cure such alleged default.

 26.18 Authority. TENANT and the party executing this LEASE on behalf of TENANT represent to LANDLORD that such party is
authorized to do so by requisite action of the board of directors or partners, as the case may be, and agree upon request to deliver to LANDLORD a resolution or similar document to that effect. 

26.19 Brokers. LANDLORD and TENANT respectively represent and warrant to each other that neither of them has consulted or
negotiated with any broker or finder with regard to the Leased Premises except the brokers named in Tenant Specific Terms, if any. Each of them will indemnify the other against and hold the other harmless from any claims for fees or commissions from
anyone with whom either of them has consulted or negotiated with regard to the Leased Premises except the brokers so specified. LANDLORD will pay any fees or commissions due such brokers. 

 26.20 Governing Law. This LEASE will be governed by and construed pursuant to
the laws of the state in which the project is located. 
 26.21 Interest on
Past-Due Obligations. Any amount due to LANDLORD not paid when due shall bear interest at the maximum rate then allowable by law from the date due. Payment of such interest shall not excuse or cure
any default by TENANT under this LEASE; provided, however that interest shall not be payable on late charges incurred by TENANT nor on any amounts upon which late charges are paid by TENANT. 

26.22 No Easements for Air or Light. Any diminution or shutting off of light, air, or view by any structure that may be erected
on lands adjacent to the building will in no way affect this LEASE or impose any liability on LANDLORD. 
 26.23 Tax Credits.
LANDLORD is entitled to claim all tax credits and depreciation attributable to leasehold improvements in the Leased Premises. Promptly after LANDLORD’s demand, LANDLORD and TENANT will prepare a detailed list of the leasehold improvements
and fixtures and their respective costs for which LANDLORD or TENANT has paid. LANDLORD will be entitled to all credits and depreciation for those items for which LANDLORD has paid by means of any TENANT finish allowance or otherwise. TENANT will be
entitled to any tax credits and depreciation for all items for which TENANT has paid with funds not provided by LANDLORD. 
 26.24
Relocation of the Premises. LANDLORD shall have the right to relocate the Leased Premises to other premises (the “Relocated Premises”) in another part of the building or project in which the Leased Premises are located, in
accordance with the following: 
 (a) The Relocated Premises shall contain substantially the same area as, or greater area than, the
original Leased Premises described in this LEASE, and if relocation occurs after the Commencement Date herein, LANDLORD shall, at LANDLORD’s expense, use its best reasonable efforts to place the Replacement Premises in substantially the same
condition with improvements substantially similar to those which existed in the original Leased Premises at the time of the relocation. 

(b) LANDLORD shall give TENANT at least thirty (30) days written notice of LANDLORD’s intention to relocate the Leased Premises.

 (c) If reasonably practicable and mutually convenient, the physical relocation of the Leased Premises shall take place on a weekend and
shall be completed before the next business day. If the physical relocation has not been completed in that time through no fault of TENANT, monthly rent shall abate in full during such time as the physical relocation thereafter prevents TENANT from
conducting business prior to the completion of such relocation. Upon substantial completion of such relocation, the Relocation Leased Premises shall become the “Leased Premises” for all purposes of Article 1 and this LEASE. 

 (d) All reasonable costs incurred by TENANT as a direct result of the relocation shall be
paid or reimbursed by LANDLORD. 
 (e) If the Relocation Premises are smaller than the Leased Premises as they existed before relocation,
monthly rent shall be reduced proportionately. 
 (f) The parties hereto shall immediately execute an amendment to this LEASE setting forth
the relocation of the Leased Premises and the adjustment of monthly rent and other sums due under this LEASE, if any. 
 (g) This
Section 26.24 sets forth TENANT’s sole rights and remedies upon the occurrence of any such relocation. 
 26.25
Proration Computation. For purpose of prorating payments under this LEASE, all months shall be deemed to consist of 30 days. 

26.26 Consents. Except as otherwise provided herein, wherever in this LEASE the consent of a party is required to an act by or
for the other party, such consent shall not be unreasonably withheld or delayed. LANDLORD’s actual reasonable costs and expenses (including, but not limited to, architects’, attorneys’, engineers’ and other consultants’
fees) incurred in the consideration of, or response to, a request by TENANT for any LANDLORD consent pertaining to this LEASE or the Leased Premises, including, but not limited to, consents to an assignment a subletting or the presence or use of a
Hazardous Substance, shall be paid by TENANT to LANDLORD upon receipt of an invoice and supporting documentation therefor. In addition to the deposit described in Article 21, LANDLORD may, as a condition to considering any such request by
TENANT, require that TENANT deposit with LANDLORD an amount of money (in addition to the Security Deposit held under Article 21) reasonably calculated by LANDLORD to represent the cost LANDLORD will incur in considering and responding to
TENANT’s request. Any unused portion of said deposit shall be refunded to TENANT without interest. LANDLORD’s consent to any act, assignment of this LEASE or subletting of all or any portion of the Leased Premises by TENANT, or any
permitted successor to TENANT, shall not constitute an acknowledgment that no default or breach by TENANT of this LEASE exists, nor shall such consent be deemed a waiver of any then existing default or breach, except as may be otherwise specifically
stated in writing by LANDLORD at the time of such consent. All conditions to LANDLORD’s consent authorized by this Lease are acknowledged by TENANT as being reasonable. The failure to specify herein any particular condition to LANDLORD’s
consent shall not preclude the impositions by LANDLORD at the time of consent of such further or other conditions as are then reasonable with reference to the particular matter for which consent is being given. 

26.27 Force Majeure. If either party shall be delayed or prevented from the performance of any act required under this LEASE by
reason of acts of God, acts of a public enemy, riots, insurrection, strikes, lockouts, labor troubles, inability to procure materials, governmental regulations of the sales of necessary materials or supplies or the transportation of them, or any
other cause beyond the control of the party obligated, performance of such act shall be excused for the period of the delay and the period for performance of such act shall be extended for a period equivalent to the period of the delay; provided,
however, that nothing in this section shall excuse TENANT from the prompt payment of any rent or other charge or liability required of TENANT except as may be expressly provided elsewhere in this LEASE. 

 26.28 Binding Effect. The covenants, conditions, and agreements contained in
this LEASE will bind and inure to the benefit of LANDLORD and TENANT and their respective heirs, distributees, executors, administrators, successors, and, except as otherwise provided in this LEASE, their assigns. 

26.29 Anti-Terrorism Representations. Tenant is not, and shall not during the
term of the LEASE become, a person or entity with whom Landlord is restricted from doing business with under the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, H.R. 3162,
Public Law 107-56 (commonly known as the “USA Patriot Act”) and Executive Order Number 13224 on Terrorism Financing, effective September 24, 2001 and regulations promulgated pursuant thereto
(collectively, “Anti-Terrorism Laws”), including without limitation persons and entities named on the Office of Foreign Asset Control Specially Designated Nationals and Blocked Persons List
(collectively “Prohibited Persons”). 
 To the best of its knowledge, Tenant is not currently engaged in any transactions or
dealings, or otherwise associated with, any Prohibited Persons in connection with the use or occupancy of the demised premises. Tenant will not in the future during the term of the Agreement engage in any transactions or dealings, or be otherwise
associated with, any Prohibited Persons in connection with the use or occupancy of the demised premises. 
 Breach of these representations
constitutes a material breach of the Lease and shall entitle Landlord to any and all remedies available thereunder, or at law or in equity. 

26.30 No Offer or Reservation. PREPARATION OF THIS LEASE BY LANDLORD OR LANDLORD’S AGENT OR REPRESENTATIVE AND SUBMISSION
OF SAME TO TENANT FOR EXAMINATION OR EXECUTION BY TENANT SHALL NOT BE DEEMED AN OPTION OR OFFER TO LEASE THE PREMISES UPON THE TERMS AND CONDITIONS CONTAINED HEREIN OR A RESERVATION OF THE PREMISES IN FAVOR OF TENANT. THIS LEASE SHALL BECOME BINDING
UPON LANDLORD AND TENANT ONLY WHEN FULLY EXECUTED BY LANDLORD AND TENANT AND DELIVERED BY LANDLORD TO TENANT. LANDLORD RESERVES THE RIGHT TO CONTINUE THE MARKETING OF THE PREMISES FOR LEASE TO OTHER TENANTS AND TO ENTER INTO LEASES OF THE PREMISES
WITH OTHER PROSPECTIVE TENANTS AT ANY TIME PRIOR TO THE EXECUTION AND DELIVER OF THIS LEASE BY LANDLORD TO TENANT. 
 26.31 ERISA.
TENANT hereby represents and warrants to LANDLORD that (i) TENANT is not a “party in interest” (within the meaning of Section 3(14) of the Employee Retirement Income Security Act of 1974, as amended) or a “disqualified
person” (within the meaning of Section 4975 of the Internal Revenue Code of 1986, as amended) with respect to any retirement or pension plan of The Prudential Insurance Company of America, and (ii) no portion of or interest in the
Lease will be treated as a “plan asset” within the meaning of Regulation 29 CFR Section 2510.3-101 issued by the Department of Labor. 

 26.32 Energy Use. Landlord shall have the right to require Tenant to provide
Landlord with copies of bills from electricity, natural gas or similar energy providers (collectively, “Energy Providers”) Tenant receives from Energy Providers relating to Tenant’s energy use at the Premises (“Energy
Bills”) within ten (10) days after Landlord’s written request. In addition, Tenant hereby authorizes Landlord to obtain copies of the Energy Bills directly from the Energy Provider(s), and Tenant hereby authorizes each Energy Provider
to provide Energy Bills and related usage information directly to Landlord without Tenant’s consent. From time to time within ten (10) days after Landlord’s request, Tenant shall execute and deliver to Landlord an agreement provided
by Landlord authorizing the Energy Provider(s) to provide to Landlord Energy Bills and other information relating to Tenant’s energy usage at the Premises. 

26.33 Counterparts and Electronic Signatures. This Lease may be executed in multiple counterparts by the parties hereto. All
counterparts so executed shall constitute one agreement binding upon all parties, notwithstanding that all parties are not signatories to the original or the same counterpart. Each counterpart shall be deemed an original to this Lease, all of which
shall constitute one agreement to be valid as of the date of this Lease. Documents executed, scanned and transmitted electronically and/or using or bearing electronic signatures shall be deemed original signatures for purposes of this Lease and all
matters related thereto, with such scanned and electronic signatures having the same legal effect as original signatures. This Lease and any other document necessary for the consummation of the transaction contemplated by this Lease may be accepted,
executed or agreed to through the use of an electronic signature in accordance with the Electronic Signatures in Global and National Commerce Act (“E-Sign Act”), Title 15, United States Code,
Sections 7001 et seq., the California Uniform Electronic Transaction Act (“UETA”) and any other applicable rule, regulation, statute or ordinance of the State of California. Any document accepted, executed or agreed to in conformity
with such laws will be binding on each party as if it were physically executed. 
 26.34 LANDLORD AND TENANT HAVE CAREFULLY READ AND
REVIEWED THIS LEASE AND EACH TERM AND PROVISION CONTAINED HEREIN AND, BY EXECUTION OF THIS LEASE, SHOW THEIR INFORMED AND VOLUNTARY CONSENT THERETO. THE PARTIES HEREBY AGREE THAT, AT THE TIME THIS LEASE IS EXECUTED, THE TERMS OF THIS LEASE ARE
COMMERCIALLY REASONABLE AND EFFECTUATE THE INTENT AND PURPOSE OF LANDLORD AND TENANT WITH RESPECT TO THE PREMISES. 
 (THE REMAINDER OF THIS
PAGE IS INTENTIONALLY LEFT BLANK.] 

 IN WITNESS WHEREOF, the parties hereby execute this Lease as of the date first written
above. 
  

					
	LANDLORD
	
	Laguna Cabot Road Business Park, LP
		
	By:	 	Davis Property Management, Inc.,
	  a California corporation,

		
	Its:	 	Authorized Signer
			
		 	 By:
	 	 /s/ Daniel Karcher

		 	 Its:
	 	Co-President

  

			
	 TENANT*

 

	Sonendo, Inc., a Delaware corporation
		
	By:	 	 /s/ Bjarne Bergheim

		 	Bjarne Bergheim
		
	Its:	 	 CEO

		
	By:	 	 /s/ Michael Watts

		 	Michael Watts
		
	Its:	 	 CFO

  

	* 	 If Tenant is a corporation, the authorized officers must sign on behalf of the corporation and indicate the
capacity in which they are signing. The Lease must be executed by the president or vice president and the secretary or assistant secretary, unless the bylaws or a resolution of the board of directors shall otherwise provide, in which event the
bylaws or a certified copy of the resolution, as the case July be, must be attached to this Lease. 

 Exhibit B 

Addendum to Standard Business Park Lease - Multi Tenant (the “Lease”) 

dated July 15, 2020 2019 Between 

Laguna Cabot Road Business Park, LP (“Landlord”) and 

Sonendo, Inc., a Delaware corporation (“Tenant”) 

It is hereby agreed by Landlord and Tenant that the provisions of this Addendum are a part of the Lease. If there is a conflict between the
terms and conditions of this Addendum and the terms and conditions of the Lease, the terms and conditions of this Addendum shall control. Capitalized terms in this Addendum shall have the same meaning as capitalized terms in the Lease, and, if a
Work Letter Agreement is attached to this Lease, as those terms have been defined in the Work Letter Agreement. 
  

	1.	 Occupancy. Landlord and Tenant acknowledge that Tenant presently occupies the Premises, and this new
Lease is in lieu of a renewal Amendment. 

  

	2.	 Assignment and Subletting. Article 8 of the Lease shall be amended as follows: 

 

	 	(i)	 A Section 8.1(f) shall be added, as follows: 8.1(f) Notwithstanding anything to the contrary contained in
this Article 8, neither (i) an assignment to an entity which acquires all or substantially all of the stock or assets of Tenant, (ii) an assignment of the Premises to a transferee which is the resulting entity of a merger or consolidation
of Tenant with another entity, nor (iii) an assignment or subletting of all or a portion of the Premises to an affiliate of Tenant (an entity which is controlled by, controls, or is under common control with, Tenant), nor (iv), an assignment or
subletting of all or a portion of the Premises to Fjord Ventures, LLC, a Delaware limited liability company, or any company owned within the Fjord Ventures, LLC profile), shall be deemed a Transfer under this Article 8, provided that Tenant
notifies Landlord of any such assignment or sublease not less than ten (10) days prior to the consummation of such assignment or subletting (unless such disclosure is not possible due to confidentiality or legal requirements, and in such case
within ten (10) days of such assignment or sublease) and promptly supplies Landlord with any documents or information requested by Landlord regarding such assignment or sublease or such affiliate, and further provided that such assignment or
sublease is not a subterfuge by Tenant to avoid its obligations under this Lease. “Control,” as used in this Section 8.1(f), shall mean the ownership, directly or indirectly, of at least
fifty-one percent (51%) of the voting securities of, or possession of the right to vote, in the ordinary direction of its affairs, of at least fifty-one percent (51%) of
the voting interest in, any person or entity. 

  

	 	(ii)	 Section 8.2 (g) shall be stricken in its entirety. 

 

	 	(iii)	 Section 8.2 (h) shall be stricken in its entirety. 

	3.	 Option to Extend For One Period. Landlord hereby grants to Tenant the option to extend the term of the
Lease for One (1) Three (3)-year period (the “Extension Option”) commencing when the initial lease term expires upon each and all of the following terms and conditions: 

(a) Tenant shall give to Landlord on a date which is prior to the date that the option period would commence (if exercised) by
at least one hundred eighty (180) days and not more than two hundred seventy (270) days, a written notice of the exercise of the option to extend the Lease for said additional term, time being of the essence. If said notification of the
exercise of said option is not so given and received, this option shall automatically expire. 
 (b) All of the terms and
conditions of the Lease except where specifically modified by this section shall apply. 
 (c) The Base Rent payable
during the option term shall be the Market Rate on the date the option term commences. 
 (d) The term “Market
Rate” shall mean the annual amount per rentable square foot that a willing, comparable renewal tenant would pay and a willing, comparable landlord of a similar business park would accept at arm’s length for similar space, giving
appropriate consideration to the following matters: (i) annual rental rates per rentable square foot; (ii) the type of escalation clauses (including, but without limitation, operating expense, real estate taxes, and CPI) and the extent of
liability under the escalation clauses (i.e., whether determined on a “net lease” basis or by increases over a particular base year or base dollar amount); (iii) rent abatement provisions reflecting free rent and/or no rent during the
lease term; (iv) length of lease term; (v) size and location of premises being leased; and (vi) all other generally applicable terms and conditions of tenancy for similar space; provided, however, Tenant shall not be entitled to any
tenant improvement or refurbishment allowance. The Market Rate may also designate periodic rental increases, a new Base Year and similar economic adjustments. The Market Rate shall be the Market Rate in effect as of the beginning of the option
period, even though the determination may be made in advance of that date, and the parties may use recent trends in rental rates in determining the proper Market Rate as of the beginning of the option period. 

(e) If Tenant exercises the Extension Option, Landlord shall determine the Market Rate by using its good faith judgment.
Landlord shall provide Tenant with written notice of such amount within fifteen (15) days after Tenant exercises its Extension Option. Tenant shall have fifteen (15) days (“Tenant’s Review Period”) after receipt of
Landlord’s notice of the new rental within which to accept such rental. In the event Tenant fails to accept in writing such rental proposal by Landlord, then such proposal shall be deemed rejected, and Landlord and Tenant shall attempt to agree
upon such Market Rate, using their best good faith efforts. If Landlord and Tenant fail to reach agreement within fifteen (15) days following Tenant’s Review Period (“Outside Agreement Date”), then each party shall place in a
separate sealed envelope their final proposal as to the Market Rate, and such determination shall be submitted to arbitration in accordance with subsections (i) through (v) below. In the event that Landlord fails to

 
timely generate the initial notice of Landlord’s opinion of the Market Rate, then Tenant may commence such negotiations by providing the initial notice, in which event Landlord shall have
fifteen (15) days (“Landlord’s Review Period”) after receipt of Tenant’s notice of the new rental within which to accept such rental. In the event Landlord fails to accept in writing such rental proposed by Tenant, then such
proposal shall be deemed rejected, and Landlord and Tenant shall attempt in good faith to agree upon such Market Rate, using their best good faith efforts. If Landlord and Tenant fail to reach agreement within fifteen (15) days following
Landlord’s Review Period (which shall be, in such event, the “Outside Agreement Date” in lieu of the above definition of such date), then each party shall place in a separate sealed envelope their final proposal as to Market Rate, and
such determination shall be submitted to arbitration in accordance with subsections (i) through (v) below. 
 ARBITRATION OF
DISPUTES 
 (i) LANDLORD AND TENANT SHALL MEET WITH EACH OTHER WITHIN FIVE (5) BUSINESS DAYS AFTER THE OUTSIDE
AGREEMENT DATE AND EXCHANGE THEIR SEALED ENVELOPES AND THEN OPEN SUCH ENVELOPES IN EACH OTHER’S PRESENCE. IF LANDLORD AND TENANT DO NOT MUTUALLY AGREE UPON THE MARKET RATE WITHIN ONE (1) BUSINESS DAY OF THE EXCHANGE AND OPENING OF
ENVELOPES, THEN, WITHIN TEN (10) BUSINESS DAYS OF THE EXCHANGE AND OPENING OF ENVELOPES, LANDLORD AND TENANT SHALL AGREE UPON AND JOINTLY APPOINT A SINGLE ARBITRATOR WHO SHALL BY PROFESSION BE A REAL ESTATE BROKER OR AGENT WHO SHALL HAVE BEEN
ACTIVE OVER THE FIVE (5) YEAR PERIOD ENDING ON THE DATE OF SUCH APPOINTMENT IN THE LEASING OF COMMERCIAL INDUSTRIAL BUILDINGS SIMILAR TO THE PREMISES IN THE GEOGRAPHICAL AREA OF THE PREMISES. NEITHER LANDLORD NOR TENANT SHALL CONSULT WITH
SUCH BROKER OR AGENT AS TO HIS OR HER OPINION AS TO THE MARKET RATE PRIOR TO THE APPOINTMENT. THE DETERMINATION OF THE ARBITRATOR SHALL BE LIMITED SOLELY TO THE ISSUE OF WHETHER LANDLORD’S OR TENANT’S SUBMITTED MARKET RATE FOR THE PREMISES
IS THE CLOSEST TO THE ACTUAL MARKET RATE FOR THE PREMISES AS DETERMINED BY THE ARBITRATOR, TAKING INTO ACCOUNT THE REQUIREMENTS FOR DETERMINING MARKET RATE SET FORTH HEREIN. SUCH ARBITRATOR MAY HOLD SUCH HEARINGS AND REQUIRE SUCH BRIEFS AS THE
ARBITRATOR, IN HIS OR HER SOLE DISCRETION, DETERMINES IS NECESSARY. IN ADDITION, LANDLORD OR TENANT MAY SUBMIT TO THE ARBITRATOR WITH A COPY TO THE OTHER PARTY WITHIN FIVE (5) BUSINESS DAYS AFTER THE APPOINTMENT OF THE ARBITRATOR ANY MARKET
DATA AND ADDITIONAL INFORMATION SUCH PARTY DEEMS RELEVANT TO THE DETERMINATION OF THE MARKET RATE (“RR DATA”), AND THE OTHER PARTY MAY SUBMIT A REPLY IN WRITING WITHIN FIVE (5) BUSINESS DAYS AFTER RECEIPT OF SUCH RR DATA. 

 (ii) THE ARBITRATOR SHALL, WITHIN THIRTY (30) DAYS OF HIS OR HER
APPOINTMENT, REACH A DECISION AS TO WHETHER THE PARTIES SHALL USE LANDLORD’S OR TENANT’S SUBMITTED MARKET RATE AND SHALL NOTIFY LANDLORD AND TENANT OF SUCH DETERMINATION. 

(iii) THE DECISION OF THE ARBITRATOR SHALL BE FINAL AND BINDING UPON LANDLORD AND TENANT. 

(iv) IF LANDLORD AND TENANT FAIL TO AGREE UPON AND APPOINT AN ARBITRATOR, THEN THE APPOINTMENT OF THE ARBITRATOR SHALL BE MADE
BY THE PRESIDING JUDGE OF THE ORANGE COUNTY SUPERIOR COURT, OR, IF HE OR SHE REFUSES TO ACT, BY ANY JUDGE HAVING JURISDICTION OVER THE PARTIES. 

(v) THE COST OF THE ARBITRATION SHALL BE PAID BY LANDLORD AND TENANT EQUALLY. 

NOTICE: BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT OF THE MATTERS INCLUDED IN THE
“ARBITRATION OF DISPUTES” PROVISION DECIDED BY NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE BELOW
YOU ARE GIVING UP YOUR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY INCLUDED IN THE “ARBITRATION OF DISPUTES” PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU MAY BE
COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY. 

WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT OF THE MATTERS INCLUDED IN THE
“ARBITRATION OF DISPUTES” PROVISION TO NEUTRAL ARBITRATION. 
  

			
	 /s/ DK 
	  	 /s/ BB /s/ MW

	 (Landlord initials)
	  	 (Tenant initials)

 4. Holding Over. Section 26.11 of the Lease shall be amended to read as follows: 26.11 Holding Over. TENANT will
have no right to remain in possession of all or any part of the Leased Premises after the expiration of the term. If TENANT remains in possession of all or any part of the Leased Premises after the expiration of the term without the express or
implied consent of LANDLORD: (a) such tenancy will be deemed to be a tenancy at sufferance only; and (b) such tenancy will not constitute a renewal or extension of this LEASE for any further term. The parties recognize and agree that the
damage to LANDLORD resulting from any failure by TENANT to timely surrender possession of the Leased Premises will be substantial, will exceed the amount of the monthly installments of the rent payable hereunder, and will be impossible to

 
measure accurately. TENANT therefore agrees that if possession of the Leased Premises is not surrendered to LANDLORD upon the Expiration Date or sooner termination of the LEASE, in addition to
any other rights or remedies LANDLORD may have hereunder or at law, TENANT shall pay to LANDLORD, as liquidated damages, for each portion of any month during which TENANT holds over in the Leased Premises after the Expiration Date or sooner
termination of this LEASE, a sum equal to two (2) times the aggregate of that portion of the Monthly Base Rent and additional rent that was payable under this LEASE during the last month of the term. Nothing herein contained shall be deemed to
permit TENANT to retain possession of all or any part of the Leased Premises after the Expiration Date or sooner termination of the LEASE. The provisions of this Section 26.11 shall survive the Expiration Date or sooner termination of this
LEASE. 
 [SIGNATURES ON PAGE TO FOLLOW] 

 IN WITNESS WHEREOF, the parties hereto have respectively executed this Addendum. 

 

					
	 LANDLORD

	 Laguna Cabot Road Business Park, LP

	
	By:     Davis Property Management, Inc.,
	  a California corporation,

			
	        	 	Its:	 	 Authorized Signer

		 	By:	 	/s/ Daniel Karcher
		 	Its:	 	Co-President

  

			
	TENANT*	 	
	
	 Sonendo, Inc., a Delaware corporation

		
	By:	 	 /s/ Bjarne Bergheim

		 	Bjarne Bergheim
		
	Its:	 	 CEO

		
	By:	 	 /s/ Michael Watts

		 	Michael Watts
		
	Its:	 	 CFOEX-10.3

 Exhibit 10.3 

Execution Version 
  

 
  

CREDIT AGREEMENT AND GUARANTY 

dated as of 

June 23, 2017 

between 
 SONENDO, INC.

 as the Borrower, 

The Subsidiary Guarantors from Time to Time Party Hereto, 

and 
 PERCEPTIVE CREDIT
HOLDINGS, LP, 
 as the Lender and the Collateral Agent 

U.S. $20,000,000 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 SECTION 1
	 	DEFINITIONS	  	 	1	 
	 1.01
	 	Certain Defined Terms	  	 	1	 
	 1.02
	 	Accounting Terms and Principles	  	 	24	 
	 1.03
	 	Interpretation	  	 	25	 
	 SECTION 2
	 	THE COMMITMENT AND THE LOANS	  	 	26	 
	 2.01
	 	Loans	  	 	26	 
	 2.02
	 	Borrowing Procedures	  	 	26	 
	 2.03
	 	Notes	  	 	27	 
	 2.04
	 	Use of Proceeds	  	 	27	 
	 SECTION 3
	 	PAYMENTS OF PRINCIPAL AND INTEREST	  	 	27	 
	 3.01
	 	Repayment	  	 	27	 
	 3.02
	 	Interest	  	 	27	 
	 3.03
	 	Prepayments	  	 	28	 
	 SECTION 4
	 	PAYMENTS, ETC.	  	 	29	 
	 4.01
	 	Payments	  	 	29	 
	 4.02
	 	Computations	  	 	30	 
	 4.03
	 	Set-Off	  	 	30	 
	 SECTION 5
	 	YIELD PROTECTION, ETC.	  	 	30	 
	 5.01
	 	Additional Costs	  	 	30	 
	 5.02
	 	Illegality	  	 	32	 
	 5.03
	 	Taxes	  	 	32	 
	 5.04
	 	Mitigation Obligations	  	 	35	 
	 5.05
	 	Replacement of Lenders	  	 	35	 
	 5.06
	 	Survival	  	 	36	 
	 SECTION 6
	 	CONDITIONS PRECEDENT	  	 	36	 
	 6.01
	 	Conditions to the Borrowing of the Initial Loan	  	 	36	 
	 6.02
	 	Conditions to the Borrowing of the Delayed Draw Loan	  	 	39	 
	 SECTION 7
	 	REPRESENTATIONS AND WARRANTIES	  	 	41	 
	 7.01
	 	Power and Authority	  	 	41	 
	 7.02
	 	Authorization; Enforceability	  	 	41	 
	 7.03
	 	Governmental and Other Approvals; No Conflicts	  	 	41	 
	 7.04
	 	Financial Statements; Material Adverse Change	  	 	42	 
	 7.05
	 	Properties	  	 	42	 
	 7.06
	 	No Actions or Proceedings	  	 	45	 
	 7.07
	 	Compliance with Laws and Agreements	  	 	46	 
	 7.08
	 	Taxes	  	 	47	 
	 7.09
	 	Full Disclosure	  	 	47	 
	 7.10
	 	Regulation	  	 	47	 
	 7.11
	 	Solvency	  	 	47	 
	 7.12
	 	Equity Holders; Subsidiaries and Investments	  	 	47	 
	 7.13
	 	Indebtedness	  	 	48	 
	 7.14
	 	Material Agreements	  	 	48	 
	 7.15
	 	Restrictive Agreements	  	 	48	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 7.16
	 	Real Property	  	 	48	 
	 7.17
	 	Pension Matters	  	 	48	 
	 7.18
	 	Collateral; Security Interest	  	 	49	 
	 7.19
	 	Regulatory Approvals	  	 	49	 
	 7.20
	 	Transactions with Affiliates	  	 	51	 
	 7.21
	 	OFAC	  	 	51	 
	 7.22
	 	Anti-Corruption	  	 	52	 
	 7.23
	 	Deposit and Disbursement Accounts	  	 	52	 
	 7.24
	 	Royalty and Other Payments	  	 	52	 
	 SECTION 8
	 	AFFIRMATIVE COVENANTS	  	 	52	 
	 8.01
	 	Financial Statements and Other Information	  	 	52	 
	 8.02
	 	Notices of Material Events	  	 	54	 
	 8.03
	 	Existence; Conduct of Business	  	 	56	 
	 8.04
	 	Payment of Obligations	  	 	56	 
	 8.05
	 	Insurance	  	 	56	 
	 8.06
	 	Books and Records; Inspection Rights	  	 	57	 
	 8.07
	 	Compliance with Laws and Other Obligations	  	 	57	 
	 8.08
	 	Maintenance of Properties, Etc.	  	 	57	 
	 8.09
	 	Licenses	  	 	58	 
	 8.10
	 	Action under Environmental Laws	  	 	58	 
	 8.11
	 	Use of Proceeds	  	 	58	 
	 8.12
	 	Certain Obligations Respecting Subsidiaries; Further Assurances	  	 	58	 
	 8.13
	 	Termination of Non-Permitted Liens	  	 	59	 
	 8.14
	 	Intellectual Property	  	 	59	 
	 8.15
	 	Litigation Cooperation	  	 	60	 
	 8.16
	 	Maintenance of Regulatory Approvals, Contracts, Intellectual Property, Etc.	  	 	60	 
	 8.17
	 	ERISA Compliance	  	 	61	 
	 8.18
	 	Cash Management	  	 	61	 
	 8.19
	 	2016 Financial Statements, Etc.	  	 	61	 
	 SECTION 9
	 	NEGATIVE COVENANTS	  	 	61	 
	 9.01
	 	Indebtedness	  	 	61	 
	 9.02
	 	Liens	  	 	63	 
	 9.03
	 	Fundamental Changes and Acquisitions	  	 	64	 
	 9.04
	 	Lines of Business	  	 	65	 
	 9.05
	 	Investments	  	 	65	 
	 9.06
	 	Restricted Payments	  	 	66	 
	 9.07
	 	Payments of Indebtedness	  	 	67	 
	 9.08
	 	Change in Fiscal Year	  	 	67	 
	 9.09
	 	Sales of Assets, Etc.	  	 	67	 
	 9.10
	 	Transactions with Affiliates	  	 	68	 
	 9.11
	 	Restrictive Agreements	  	 	68	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
		 		  			
	 9.12
	 	Modifications and Terminations of Material Agreements and Organic Documents	  	 	68	 
	 9.13
	 	Inbound and Outbound Licenses	  	 	69	 
	 9.14
	 	Sales and Leasebacks	  	 	70	 
	 9.15
	 	Hazardous Material	  	 	70	 
	 9.16
	 	Accounting Changes	  	 	70	 
	 9.17
	 	Compliance with ERISA	  	 	70	 
	 SECTION 10
	 	FINANCIAL COVENANTS	  	 	70	 
	 10.01
	 	Minimum Liquidity	  	 	70	 
	 10.02
	 	Minimum Revenue	  	 	70	 
	 10.03
	 	Revenue Covenant Cure	  	 	71	 
	 SECTION 11
	 	EVENTS OF DEFAULT	  	 	72	 
	 11.01
	 	Events of Default	  	 	72	 
	 11.02
	 	Remedies	  	 	75	 
	 SECTION 12
	 	THE COLLATERAL AGENT	  	 	75	 
	 12.01
	 	Authority	  	 	75	 
	 12.02
	 	Exculpatory Provisions	  	 	76	 
	 12.03
	 	Reliance by Collateral Agent	  	 	76	 
	 12.04
	 	Delegation of Duties	  	 	77	 
	 12.05
	 	Collateral Agent May File Proofs of Claim	  	 	77	 
	 12.06
	 	Collateral Matters	  	 	78	 
	 SECTION 13
	 	GUARANTEE	  	 	78	 
	 13.01
	 	The Guarantee	  	 	78	 
	 13.02
	 	Obligations Unconditional	  	 	78	 
	 13.03
	 	Reinstatement	  	 	79	 
	 13.04
	 	Subrogation	  	 	79	 
	 13.05
	 	Remedies	  	 	80	 
	 13.06
	 	Instrument for the Payment of Money	  	 	80	 
	 13.07
	 	Continuing Guarantee	  	 	80	 
	 13.08
	 	Rights of Contribution	  	 	80	 
	 13.09
	 	General Limitation on Guarantee Obligations	  	 	81	 
	 SECTION 14
	 	MISCELLANEOUS	  	 	81	 
	 14.01
	 	No Waiver	  	 	81	 
	 14.02
	 	Notices	  	 	82	 
	 14.03
	 	Expenses, Indemnification, Etc.	  	 	82	 
	 14.04
	 	Amendments, Etc.	  	 	83	 
	 14.05
	 	Successors and Assigns	  	 	84	 
	 14.06
	 	Survival	  	 	86	 
	 14.07
	 	Captions	  	 	86	 
	 14.08
	 	Counterparts	  	 	86	 
	 14.09
	 	Governing Law	  	 	86	 
	 14.10
	 	Jurisdiction, Service of Process and Venue	  	 	86	 
	 14.11
	 	Waiver of Jury Trial	  	 	87	 

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 14.12
	 	Waiver of Immunity	  	 	87	 
	 14.13
	 	Entire Agreement	  	 	87	 
	 14.14
	 	Severability	  	 	88	 
	 14.15
	 	No Fiduciary Relationship	  	 	88	 
	 14.16
	 	Confidentiality	  	 	88	 
	 14.17
	 	Right of Setoff	  	 	89	 
	 14.18
	 	Judgment Currency	  	 	89	 
	 14.19
	 	USA PATRIOT Act	  	 	89	 
	 14.20
	 	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	  	 	90	 

  
 -iv- 

 TABLE OF CONTENTS 

SCHEDULES AND EXHIBITS 
  

					
	Schedule 1	  	-	  	Commitments
	Schedule 2	  	-	  	Products
	Schedule 7.05(b)	  	-	  	Certain Intellectual Property
	Schedule 7.05(c)	  	-	  	Material Intellectual Property
	Schedule 7.06(a)	  	-	  	Certain Litigation
	Schedule 7.06(c)	  	-	  	Labor Matters
	Schedule 7.08	  	-	  	Taxes
	Schedule 7.12(b)	  	-	  	Information Regarding Subsidiaries
	Schedule 7.12(c)	  	-	  	Equity Interests
	Schedule 7.13(a)	  	-	  	Existing Indebtedness of the Borrower and its Subsidiaries
	Schedule 7.13(b)	  	-	  	Liens Granted by the Obligors
	Schedule 7.14	  	-	  	Material Agreements of Obligors
	Schedule 7.15	  	-	  	Restrictive Agreements
	Schedule 7.16	  	-	  	Real Property Owned or Leased by any Obligor
	Schedule 7.19(b)	  	-	  	Material Regulatory Approvals
	Schedule 7.19(e)	  	-	  	Adverse Findings
	Schedule 7.20	  	-	  	Transactions with Affiliates
	Schedule 7.23	  	-	  	Deposit and Disbursement Accounts
	Schedule 7.24	  	-	  	Royalties etc.
	Schedule 9.05	  	-	  	Existing Investments
	Schedule 9.10	  	-	  	Transactions with Affiliates
	Schedule 9.13(a)	  	-	  	Inbound Licenses
	Schedule 9.13(b)	  	-	  	Outbound Licenses
	Schedule 9.14	  	-	  	Permitted Sales and Leasebacks
			
	Exhibit A	  	-	  	Form of Guarantee Assumption Agreement
	Exhibit B	  	-	  	Form of Borrowing Notice
	Exhibit C	  	-	  	Form of Note
	Exhibit D-1	  	-	  	Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit D-2	  	-	  	Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit D-3	  	-	  	Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit D-4	  	-	  	Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit E	  	-	  	Form of Compliance Certificate

  
 v 

 TABLE OF CONTENTS 

(continued) 
  

					
	Exhibit F	  	-	  	Form of Assignment and Assumption
	Exhibit G	  	-	  	Form of Perfection Certificate
	Exhibit H	  	-	  	Form of Security Agreement
	Exhibit I	  	-	  	Form of Warrant Agreement
	Exhibit J	  	-	  	Form of Closing Date Certificate
	Exhibit K	  	-	  	Form of Solvency Certificate
	Exhibit L	  	-	  	Form of Intercompany Subordination Agreement

  

  
 -vi- 

 CREDIT AGREEMENT AND GUARANTY 

Credit Agreement and Guaranty, dated as of June 23, 2017 (this “Agreement”), among Sonendo, Inc., a Delaware
corporation (the “Borrower”), the Subsidiary Guarantors from time to time parties hereto, and Perceptive Credit Holdings, LP, a Delaware limited partnership, in both its capacity as a Lender (defined below) hereunder and as
the collateral agent for the Secured Parties (defined below) (in such capacity, together with its successors and assigns, the “Collateral Agent”). 

WITNESSETH: 
 WHEREAS, the
Borrower has requested that the Lender provide a senior, secured, delayed-draw term loan facility to Borrower in an aggregate principal amount of $20,000,000 (with up to $10,000,000 to be available on the Closing Date (this and other undefined terms
used herein will have the meanings ascribed thereto in Section 1.01 below) and up to an additional $10,000,000 to be available on the Delayed Draw Date, in each case subject to the terms and conditions set forth herein);
and 
 WHEREAS, the Lender is willing, on the terms and subject to the conditions set forth herein, to make the Loans to the Borrower. 

NOW, THEREFORE, the parties hereto agree as follows: 

SECTION 1 
 DEFINITIONS

 1.01 Certain Defined Terms. As used herein, the following terms have the following respective meanings: 

“510(k)” means (i) any premarket notification and corresponding FDA clearance for a Device pursuant to FDA regulations,
and (ii) all substantially equivalent or similar notifications, applications and clearances required pursuant to any other Regulatory Authority in the European Union or in any other non-U.S.
jurisdictions, including, in each case, all amendments, supplements and other additions and modifications thereto, and all documents, data and other information concerning any applicable Device which are necessary for, filed with, incorporated by
reference in or otherwise support any of the foregoing. 
 “Account Control Agreement” means a control agreement or
other similar agreement with respect to one or more Controlled Accounts, entered into by the applicable depositary bank, one or more Obligors and the Collateral Agent, in form and substance reasonably satisfactory to the Collateral Agent, in order
to give the Collateral Agent “control” (within the meaning set forth in Section 9-104 of the UCC) of such account(s). 

“Act” has the meaning set forth in Section 14.19. 

  
 1 

 “Acquisition” means any transaction, or any series of related
transactions, by which any Person directly or indirectly, by means of a take-over bid, tender offer, amalgamation, merger, purchase of assets, or similar transaction having the same effect as any of the foregoing, (i) acquires any business or
all or substantially all of the assets of any Person, (ii) acquires control of Equity Interests of a Person representing more than 50% of the ordinary voting power (determined on a fully-diluted basis) for the election of directors of such
Person’s Board, if the business affairs of such Person are managed by a Board, or (iii) acquires control of more than 50% of the Equity Interests in any Person (determined on a fully-diluted basis) engaged in any business that is not
managed by a Board. 
 “Affiliate” means, with respect to a specified Person, another Person that directly, or
indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified; provided that, with respect to the Lender, “Affiliate” shall include any Related Fund of the Lender.

 “Agreement” has the meaning set forth in the introduction hereto. 

“Applicable Margin” means 9.25%, as potentially increased pursuant to Section 3.02(b). 

“Asset Sale” has the meaning set forth in Section 9.09. 

“Assignment and Assumption” means an assignment and assumption entered into by the Lender and an assignee of the
Lender substantially in the form of Exhibit F. 
 “Bail-In Action”
means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country
implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU
Bail-In Legislation Schedule. 
 “Bailee Letter” means a bailee letter
substantially in the form of Exhibit F to the Security Agreement. 
 “Bankruptcy Code” means Title 11 of the United
States Code entitled “Bankruptcy.” 
 “Benefit Plan” means any employee benefit plan as defined in
Section 3(3) of ERISA (whether governed by the Laws of the United States or otherwise) to which any Obligor or Subsidiary thereof incurs or otherwise has any obligation or liability, contingent or otherwise. 

“Board” means, with respect to any Person, the board of directors or equivalent management or oversight body of such
Person or any committee thereof authorized to act on behalf of such board (or equivalent body). 
 “Borrower” has
the meaning set forth in the introduction hereto. 
 “Borrower Party” has the meaning set forth in
Section 14.03(b). 
 “Borrowing” means, as the context may require, either the borrowing
of the Initial Loan on the Closing Date or the borrowing of the Delayed Draw Loan on the Delayed Draw Date. 

  
 2 

 “Borrowing Date” means, with respect to the Initial Loan, the
Closing Date, and with respect to the Delayed Draw Loan, the Delayed Draw Date. 
 “Borrowing Notice” means a
written notice substantially in the form of Exhibit B. 
 “Business Day” means a day (other than a Saturday
or Sunday) on which commercial banks are not authorized or required to close in New York City. 
 “Calculation Date”
has the meaning set forth in Section 10.02. 
 “Capital Lease Obligation” means, as to any
Person, any obligation of such Person to pay rent or other amounts under a lease of (or other agreement conveying the right to use) real or personal property, which obligations are required to be classified and accounted for as a capital lease on a
balance sheet of such Person under GAAP and, for purposes of this Agreement, the amount of any such obligation shall be the capitalized amount thereof, determined in accordance with GAAP. 

“Casualty Event” means the damage, destruction or condemnation, as the case may be, of property of any Person or any
of its Subsidiaries. 
 “Change of Control” means (i) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group of Persons (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such Person or its Subsidiaries and any Person acting
in its capacity as trustee, agent or other fiduciary or administrator of any such plan) acting jointly or otherwise in concert of Equity Interests representing more than 40% of the aggregate ordinary voting power represented by the issued and
outstanding Equity Interests of the Borrower, (ii) during any period of 12 consecutive calendar months, the occupation of a majority of the seats (other than vacant seats) on the Board of the Borrower by Persons who were neither
(x) nominated by the Board of the Borrower, nor (y) appointed by directors so nominated, (iii) the sale, conveyance or disposal of all or substantially all of the property or business of the Borrower and its Subsidiaries, taken as a
whole or (iv) the Borrower shall cease to own, directly or indirectly, beneficially and of record, 100% of the issued and outstanding Equity Interests of each of its Subsidiaries, free and clear of all Liens (except as otherwise permitted
hereunder). 
 “Claims” includes claims, demands, complaints, grievances, actions, applications, suits, causes of
action, orders, charges, indictments, prosecutions, information (brought by a public prosecutor without grand jury indictment) or other similar processes, assessments or reassessments. 

“Closing Date” means June 23, 2017 

“Closing Date Certificate” has the meaning set forth in Section 6.01(b). 

“Closing Date Warrant” means the warrant issued on the Closing Date pursuant to
Section 6.01(j), exercisable into 100,000 shares of the Borrower’s Series D preferred stock. 

  
 3 

 “Code” means the Internal Revenue Code of 1986, as amended from time
to time, and the rules and regulations promulgated thereunder from time to time. 
 “Collateral” means any property
in which a Lien is purported to be granted to the Collateral Agent for the benefit of the Lenders under any of the Security Documents (or all such property, as the context may require). 

“Collateral Agent” has the meaning set forth in the introduction hereto. 

“Commitment” means, with respect to each Lender, the obligation of such Lender to make Loans to the Borrower in
accordance with the terms and conditions of this Agreement, which commitment is in the amount set forth opposite such Lender’s name on Schedule 1 under the caption “Commitment”, as such Schedule may be amended from time to time
pursuant to an Assignment and Assumption or otherwise. The aggregate Commitments on the date hereof equal $20,000,000. 

“Commodity Account” is defined in the Security Agreement. 

“Compliance Certificate” has the meaning set forth in Section 8.01(d). 

“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however
denominated) or that are franchise Taxes or branch profits Taxes. 
 “Contracts” means contracts, licenses, leases,
agreements, obligations, promises, undertakings, understandings, arrangements, documents, commitments, entitlements or engagements pursuant to which a Person has, or will have, any actual or contingent obligations or liabilities (in each case,
whether written or oral, express or implied). “Contractual” has a meaning correlative thereto. 

“Control” means, in respect of a particular Person, the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of such Person, whether through the ability to exercise voting power, by Contract or otherwise. “Controlling” and “Controlled” have meanings
correlative thereto. 
 “Controlled Account” has the meaning set forth in Section 8.18(a).

 “Copyright” is defined in the Security Agreement. 

“Default” means any Event of Default and any event that, upon the giving of notice, the lapse of time or both, would
constitute an Event of Default. 
 “Default Rate” has the meaning set forth in
Section 3.02(b). 
 “Delayed Draw Certificate” has the meaning set forth in
Section 6.02(b). 
 “Delayed Draw Date” means the date of the borrowing of the Delayed
Draw Loan hereunder, which shall be no sooner than the date on which each of the conditions precedent set forth in Section 6.02 shall have been satisfied. 

  
 4 

 “Delayed Draw Date Warrant” means the warrant to be issued on the
Delayed Draw Date pursuant to Section 6.02(e), exercisable into 100,000 shares of the Borrower’s Series D preferred stock. 

“Delayed Draw Loan” means the term loan made by the Lender on the Delayed Draw Date in an aggregate principal amount
of $10,000,000. 
 “Deposit Account” is defined in the Security Agreement. 

“Designated Jurisdiction” means any country or territory to the extent that such country or territory is the subject
of any Sanction. 
 “Device” means any medical instrument, apparatus, implement, machine, contrivance, implant, in
vitro reagent or other similar or related item, including any component, part or accessory, that (i) is intended for use in the diagnosis of disease or other conditions or in the cure, mitigation, treatment or prevention of disease, in man or
other animals, or is intended to affect the structure or any function of the body of man or other animals, (ii) does not achieve its primary intended purpose or purposes through chemical action within or on the body of man or other animals and
(iii) is not dependent upon being metabolized for the achievement of its primary intended purpose or purposes. 
 “Device
Clearance Application” means any premarket approval application submitted under Section 515 of the FD&C Act (21 U.S.C. § 360e), any de novo request submitted under Section 513(f) of the FD&C Act (21 U.S.C. §
360c(f)), or any 510(k) submitted under Section 510(k) of the FD&C Act (21 U.S.C. § 360(k)) seeking clearance from the FDA for a Device that is substantially equivalent to a legally marketed predicate Device, as defined in the FD&C
Act, or any corresponding foreign application in any other jurisdiction, including, with respect to the European Union, any equivalent submission to a Standard Body pursuant to an applicable directive of the European Council with respect to CE
marking (or, if applicable, a self-certification of conformity with respect to any such directive through a “declaration of conformity”). 

“Disqualified Equity Interests” means, with respect to any Person, any Equity Interest of such Person that, by its
terms (or by the terms of any security or other Equity Interest into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (i) matures or is mandatorily redeemable (other than solely for
Qualified Equity Interests), including pursuant to a sinking fund obligation or otherwise, (ii) is redeemable at the option of the holder thereof (other than solely for Qualified Equity Interests), in whole or in part, (iii) provides for
the scheduled payments of dividends in cash, or (iv) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is 90
days after the Maturity Date. 
 “Dollars” and “$” means lawful money of the United States.

 “Domestic Subsidiary” means any direct or indirect Subsidiary of the Borrower that is a corporation, limited
liability company, partnership or similar business entity incorporated, formed or organized under the Laws of the United States, any State of the United States or the District of Columbia. 

  
 5 

 “EEA Financial Institution” means (a) any credit institution or
investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause
(a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated
supervision with its parent. 
 “EEA Member Country” means any of the member states of the European Union, Iceland,
Liechtenstein, and Norway. 
 “EEA Resolution Authority” means any public administrative authority or any person
entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Eligible Transferee” means and includes (i) any commercial bank, (ii) any insurance company, (iii) any
finance company, (iv) any financial institution, (v) any Related Fund or other investment Fund that invests in loans, (vi) with respect to the Lender, any of its Affiliates, and (vii) any other “accredited investor” (as
defined in Regulation D of the Securities Act) that is principally engaged in the business of managing investments or holding assets for investment purposes. 

“Environmental Law” means any applicable federal, state, provincial or local law, rule, regulation, order, writ,
judgment, injunction or decree relating to pollution or protection of the environment or the treatment, storage, disposal, release, threatened release or handling of hazardous materials, and all local laws and regulations related to environmental
matters and any specific agreements entered into with any competent authorities which include commitments related to environmental matters. 

“Equity Interest” shall mean, with respect to any Person, any and all shares, interests, participations or other
equivalents, including membership interests (however designated, and whether voting or nonvoting), representing equity ownership or participation of such Person, including, if such Person is a partnership, partnership interests (whether general or
limited) and any other interest or participation that confers on another Person the right to receive a share of the profits and Losses of, or distributions of property of, such Person. 

“Equivalent Amount” means, with respect to an amount denominated in one currency, the amount in another currency that
could be purchased by the amount in the first currency determined by reference to the Exchange Rate at the time of determination. 

“ERISA” means the United States Employee Retirement Income Security Act of 1974, as amended. 

“ERISA Affiliate” means, collectively, any Obligor, Subsidiary thereof, and any Person under common control, or
treated as a single employer, with any Obligor or Subsidiary thereof, within the meaning of Section 414(b), (c), (m) or (o) of the Code. 

  
 6 

 “ERISA Event” means (i) a reportable event as defined in
Section 4043 of ERISA with respect to a Title IV Plan, excluding, however, such events as to which the PBGC by regulation has waived the requirement of Section 4043(a) of ERISA that it be notified within 30 days of the occurrence of such
event; (ii) a withdrawal by any Obligor or any ERISA Affiliate thereof from a Title IV Plan or the termination of any Title IV Plan resulting in liability under Sections 4063 or 4064 of ERISA; (iii) the withdrawal of any Obligor or any
ERISA Affiliate thereof in a complete or partial withdrawal (within the meaning of Section 4203 and 4205 of ERISA) from any Multiemployer Plan if there is any potential liability therefore, or the receipt by any Obligor or any ERISA Affiliate
thereof of notice from any Multiemployer Plan that it is in insolvency pursuant to Section 4245 of ERISA; (iv) the filing of a notice of intent to terminate, the treatment of a plan amendment as a termination under Section 4041 or
4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Title IV Plan or Multiemployer Plan; (v) the imposition of liability on any Obligor or any ERISA Affiliate thereof pursuant to Sections 4062(e) or 4069 of ERISA or by
reason of the application of Section 4212(c) of ERISA; (vi) the failure by any Obligor or any ERISA Affiliate thereof to make any required contribution to a Title IV Plan, or the failure to meet the minimum funding standard of
Section 412 of the Code with respect to any Title IV Plan (whether or not waived in accordance with Section 412(c) of the Code) or the failure to make by its due date a required installment under Section 430 of the Code with respect
to any Title IV Plan or the failure to make any required contribution to a Multiemployer Plan; (vii) the determination that any Title IV Plan is considered an at-risk plan or a plan in endangered to
critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; (viii) an event or condition which might reasonably be expected to constitute grounds under Section 4042 of ERISA for the
termination of, or the appointment of a trustee to administer, any Title IV Plan or Multiemployer Plan; (ix) the imposition of any liability under Title IV of ERISA, other than PBGC premiums due but not delinquent under Section 4007 of
ERISA, upon any Obligor or any ERISA Affiliate thereof; (x) an application for a funding waiver under Section 303 of ERISA or an extension of any amortization period pursuant to Section 412 of the Code with respect to any Title IV
Plan; or (xi) the imposition of any lien (or the fulfillment of the conditions for the imposition of any lien) on any of the rights, properties or assets of any Obligor or any ERISA Affiliate thereof, in either case pursuant to Title I or IV,
including Section 302(f) or 303(k) of ERISA or to Section 401(a)(29) or 430(k) of the Code. 
 “ERISA Funding
Rules” means the rules regarding minimum required contributions (including any installment payment thereof) to Title IV Plans, as set forth in Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

 “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. 

“Event of Default” has the meaning set forth in Section 11.01. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Excluded Deposit Accounts” has the meaning set for in Section 8.18. 

  
 7 

 “Excluded Taxes” means any of the following Taxes imposed on or with
respect to a Recipient or required to be withheld or deducted from a payment to a Recipient: (i) Taxes imposed on or measured by net income (however denominated), franchise Taxes and branch profits Taxes, in each case, (x) imposed as a
result of such Recipient being organized under the laws of, or having its principal office or, in the case of the Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivisions thereof) or
(y) that are Other Connection Taxes, (ii) in the case of the Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of the Lender with respect to an applicable interest in a Loan or Commitment pursuant to a
law in effect on the date on which (1) the Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 5.04 or (2) the Lender changes its
lending office, except in each case to the extent that, pursuant to Section 5.03, amounts with respect to such Taxes were payable either to the Lender’s assignor immediately before the Lender became a party hereto or
to the Lender immediately before it changed its lending office, (iii) Taxes attributable to such Recipient’s failure to comply with Section 5.03(f), and (iv) any U.S. federal withholding Taxes imposed under
FATCA. 
 “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or
successor version that is substantively comparable and not more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code and any
Law or official governmental agreement with respect thereto. 
 “FD&C Act” means the U.S. Food, Drug and Cosmetic Act
of 1938 (21 U.S.C. § 301 et seq.) (or any successor thereto), as amended from time to time, and the rules and regulations promulgated thereunder. 

“FDA” means the U.S. Food and Drug Administration and any successor entity. 

“Foreign Subsidiary” means any direct or indirect Subsidiary of the Borrower that is not a Domestic Subsidiary. 

“Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or
otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 

“GAAP” means generally accepted accounting principles in the United States of America, as in effect from time to time,
set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants, in the statements and pronouncements of the Financial Accounting Standards Board and in such other statements
by such other entity as may be in general use by significant segments of the accounting profession that are applicable to the circumstances as of the date of determination. Subject to Section 1.02, all references to
“GAAP” shall be to GAAP applied consistently with the principles used in the preparation of the financial statements described in Section 7.04(a). 

“Governmental Approval” means any consent, authorization, approval, order, license, franchise, permit, certificate,
accreditation, registration, filing or notice of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

  
 8 

 “Governmental Authority” means any nation, government, branch of
power (whether executive, legislative or judicial), state, province or municipality or other political agency, department or subdivision thereof and any entity exercising executive, legislative, judicial, monetary, regulatory or administrative
functions of or pertaining to government, including without limitation regulatory authorities, governmental departments, agencies, commissions, bureaus, officials, ministers, courts, bodies, boards, tribunals and dispute settlement panels, and other
Law-, rule- or regulation-making organizations or entities of any State, territory, county, city or other political subdivision of any country, including the United States. 

“Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of such Person (the
“guarantor”) guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of the guarantor, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease
property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity
capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of
assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against Loss in respect thereof (in whole or in part), or (b) any Lien on any assets
of the guarantor securing any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed by the guarantor (or any right, contingent or otherwise, of the obligee of such Indebtedness to
obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or
determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guarantor in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Guarantee Assumption Agreement” means a Guarantee Assumption Agreement substantially in the form of Exhibit A
by an entity that, pursuant to Section 8.12(a), is required to become a “Subsidiary Guarantor.” 

“Guaranteed Obligations” has the meaning set forth in Section 13.01. 

“Hazardous Material” means any substance, element, chemical, compound, product, solid, gas, liquid, waste, by-product, pollutant, contaminant or material which is classified or regulated as “hazardous” or “toxic” or words of like import pursuant to an Environmental Law and includes, without
limitation, asbestos, polychlorinated biphenyls and petroleum (including crude oil or any fraction thereof). 
 “Healthcare
Laws” means, collectively, all Laws applicable to the business of the Borrower or any other Obligor, regulating the manufacturing, labeling, promotion and provision of and payment for healthcare products, items and services, including
HIPAA, Section 1128B(b) of the Social Security Act, as amended; 42 U.S.C. § 1320a-7b (Criminal Penalties Involving Medicare or State Health Care Programs), commonly referred to as the “Federal
Anti-Kickback 

  
 9 

 
Statute”; Section 1877 of the Social Security Act, as amended; 42 U.S.C. § 1395nn (Limitation on Certain Physician Referrals), commonly referred to as “Stark Statute”;
U.S. Federal Food, Drug, and Cosmetic Act, as amended from time to time (21 U.S.C. § 301 et seq.); all applicable Good Manufacturing Practice requirements addressed in the FDA’s Quality System Regulation (21 C.F.R. Part 820); the Medical
Devices Regulations, 21 C.F.R. Part 812, and Parts 50, 54, and 56; all applicable labeling requirements addressed in the FDA’s Device Labeling Regulation (21 C.F.R. Part 801); all rules, regulations and guidance with respect to the provision of
Medicare and Medicaid programs or services (42 C.F.R. Chapter IV et seq.); and all rules, regulations and guidance promulgated under or pursuant to any of the foregoing. 

“Hedging Agreement” means any interest rate exchange agreement, foreign currency exchange agreement, commodity price
protection agreement or other interest or currency exchange rate or commodity price hedging arrangement. 
 “IDE”
means an application, including any Device Clearance Application or any other application filed with any Regulatory Authority, for authorization to commence human clinical studies with respect to any Device, including (i) an Investigational
Device Exemption as defined in the FD&C Act or any successor application or procedure filed with the FDA, (ii) an abbreviated Investigational Device Exemption as specified in FDA regulations in 21 C.F.R. § 812.2(b), (iii) any
equivalent of a United States Investigational Device Exemption in countries, jurisdictions or Governmental Authorities outside of the United States, (iv) all amendments, variations, extensions and renewals thereof that may be filed with respect
to the foregoing and (v) all related documents and correspondence thereto, including documents and correspondence with Institutional Review Boards (an “IRB”). 

“Indebtedness” of any Person means, without duplication, (i) all obligations of such Person for borrowed money or
obligations of such Person with respect to deposits or advances of any kind by third parties, (ii) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (iii) all obligations of such Person under
conditional sale or other title retention agreements relating to property acquired by such Person, (iv) all obligations of such Person in respect of the deferred purchase price of property or services (excluding accounts payable incurred in the
ordinary course of business not overdue by more than 180 days), (v) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or
acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (vi) all Guarantees by such Person of Indebtedness of others, (vii) all Capital Lease Obligations of such Person, (viii) all obligations,
contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty, (ix) obligations under any Hedging Agreement, currency swaps, forwards, futures or derivatives transactions, (x) all
obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances, (xi) all obligations of such Person under license or other agreements containing a guaranteed minimum payment or purchase by such Person,
(xii) all other obligations required to be classified as indebtedness of such Person under GAAP, excluding any of the foregoing to the extent comprised of an obligation in respect of a trade payable, a commercial letter of credit supporting one
or more trade payables or similar obligations to a trade creditor, in each case in the ordinary course of business and (xiii) any Disqualified Equity Interests of or issued by such Person. The Indebtedness of any Person shall include the
Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity,
except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. 

  
 10 

 “Indemnified Party” has the meaning set forth in
Section 14.03(b). 
 “Indemnified Taxes” means (i) Taxes, other than Excluded Taxes,
imposed on or with respect to any payment made by or on account of any Obligation and (ii) to the extent not otherwise described in clause (i), Other Taxes. 

“Initial Loan” means the term loan made by the Lender on the Closing Date in an aggregate principal amount not to
exceed $10,000,000. 
 “Initial Lender” means Perceptive Credit Holdings, LP. 

“Insolvency Proceeding” means (i) any case, action or proceeding before any court or other Governmental Authority
relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors, or (ii) any general assignment for the benefit of creditors, composition,
marshaling of assets for creditors, or other, similar arrangement in respect of any Person’s creditors generally or any substantial portion of such Person’s creditors, in each case undertaken under U.S. Federal, state or foreign Law,
including the Bankruptcy Code. 
 “Intellectual Property” means all Patents, Trademarks, Copyright, and Technical
Information, whether registered or not, domestic and foreign. Intellectual Property shall include, without limitation, all: 
 (a)
applications or registrations relating to such Intellectual Property; 
 (b) rights and privileges arising under any Law with respect to such
Intellectual Property; 
 (c) rights to sue for past, present or future infringements of such Intellectual Property; and 

(d) rights of the same or similar effect or nature in any jurisdiction corresponding to such Intellectual Property throughout the world. 

“Intercompany Subordination Agreement” means that certain Intercompany Subordination Agreement executed and delivered
by each Obligor and each of their Subsidiaries, pursuant to which all obligations in respect of any Indebtedness owing to any such Person by an Obligor shall be subordinated to the prior payment in full in cash of all Obligations, such agreement to
be in substantially the form attached hereto as Exhibit L. 
 “Interest Period” means, with respect to any
Borrowing, (i) initially, the period commencing on (and including) the Borrowing Date thereof and ending on (and including) the last day of the calendar month in which such Borrowing was made, and (ii) thereafter, the period beginning on
(and including) the first day following the last day of the preceding Interest Period and ending on the earlier of (and including) (x) the last day of the calendar month next following such preceding Interest Period and (y) the Maturity
Date. 

  
 11 

 “Interest Rate” means the sum of (i) the Applicable Margin plus
(ii) the greater of (x) One-Month LIBOR and (y) 2.00%; provided that if the Lender is at any time unable to determine One-Month LIBOR, One-Month LIBOR shall be deemed to be 2.00%. 
 “Invention” means any novel,
inventive and useful art, apparatus, method, process, machine (including article or device), manufacture or composition of matter, or any novel, inventive and useful improvement in any art, method, process, machine (including article or device),
manufacture or composition of matter. 
 “Investment” means, for any Person, any direct or indirect acquisition or
investment by such Person, whether by means of (i) the purchase or other acquisition of Equity Interests or other securities of another Person, (ii) a loan, advance or capital contribution to, Guarantee or assumption of Indebtedness of, or
purchase or other acquisition of any other Indebtedness or Equity Interest (or similar equity participation) in, another Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the
investor Guarantees any Indebtedness of such other Person, or (iii) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit. For purposes of covenant
compliance hereunder or under any other Loan Document, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment. 

“IRB” is defined within the definition of “IDE”. 

“IRS” means the U.S. Internal Revenue Service or any successor agency, and to the extent relevant, the U.S. Department
of the Treasury. 
 “Key Person” means Bjarne Bergheim. 

“Key Person Event” means that (i) the Key Person (a) has failed to hold the office of chief executive
officer of the Borrower or has failed to possess the power and authority typically associated with individuals holding the office of chief executive officer, or (b) for any period of twenty (20) consecutive days or fifty (50) days in
the aggregate, whether consecutive or non-consecutive, has failed to (x) be directly and actively involved in the day to day management and direction of the Borrower or (y) devote his full working
time and efforts to the business and affairs of the Borrower (in the case of (x) and (y), excluding up to 20 vacation days taken by the Key Person), and (ii) the Key Person is not replaced with a new Key Person reasonably acceptable to the
Lender within sixty (60) days after the occurrence of any event described in clause (i). 
 “Landlord
Consent” means a landlord consent substantially in the form of Exhibit E to the Security Agreement or otherwise reasonably acceptable to the Collateral Agent. 

“Law” means any U.S., international, foreign, federal, state, provincial, territorial, municipal and local statute,
treaty, rule, guideline, regulation, ordinance, code or administrative or judicial precedent or authority, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or
administration thereof, and any applicable determination, order, injunction or judgment of any applicable arbitrator, court, or other Government Authority, administrative order, directed duty, request, license, authorization or permit of, or
agreement with, any Governmental Authority, in each case whether or not having the force of law. 

  
 12 

 “Lender” means, collectively, the Initial Lender, any of its
assignees that have executed an Assignment and Assumption pursuant to Section 14.05(b), any assign of any such assignee that has executed an Assignment and Assumption, as well as any successor entities of any of the
foregoing Persons. 
 “Lien” means any mortgage, lien, pledge, charge or other security interest, or any lease,
title retention agreement, mortgage, restriction, easement, right-of-way, option or adverse claim (of ownership or possession) or other encumbrance of any kind or
character whatsoever or any preferential arrangement that has the practical effect of creating a security interest. 

“Loans” means, collectively, the Initial Loan, the Delayed Draw Loan, and any PIK Loan, and
“Loan” means any of the foregoing. 
 “Loan Documents” means, collectively, this Agreement,
the Notes, the Security Documents, the Warrant Agreement and each Warrant, the Intercompany Subordination Agreement and any subordination agreement, intercreditor agreement or other present or future document, instrument, agreement or certificate
delivered to the Collateral Agent or the Lender in connection with this Agreement or any of the other Loan Documents, in each case, as amended or otherwise modified. 

“Loss” means judgments, debts, liabilities, expenses, costs, damages or losses, contingent or otherwise, whether
liquidated or unliquidated, matured or unmatured, disputed or undisputed, Contractual, legal or equitable, including loss of value, professional fees, including fees and disbursements of legal counsel on a full indemnity basis, and all costs
incurred in investigating or pursuing any Claim or any proceeding relating to any Claim. 
 “Margin Stock” means
“margin stock” within the meaning of Regulations U and X. 
 “Material Adverse Change” and
“Material Adverse Effect” mean a material adverse change in or material adverse effect upon (i) the business, financial condition, results of operations, performance, assets or liabilities of the Borrower or the Borrower
and its Subsidiaries taken as a whole, (ii) the ability of any Obligor to perform its obligations under any Loan Document to which it is a party, or (iii) the legality, validity, binding effect or enforceability of the Loan Documents or
the rights and remedies of any Secured Party under any of the Loan Documents. 
 “Material Agreements” means
(i) each Product Agreement, (ii) each Contract listed in Schedule 7.14, (iii) all other Contracts to which any Obligor is a party or a beneficiary from time to time, the absence or termination of which could reasonably be
expected to result in a Material Adverse Effect, and (iv) all Contracts directly or indirectly associated with contract manufacturing, distribution of Products and the payment of royalties by any Obligor to third parties, if any, in the case of
clause (iv) only, (x) the loss of which could reasonably be expected to have a Material Adverse Effect or (y) such Contract involves monetary liability of or to any Person in an amount in excess of, (1) until the first
anniversary of the Closing Date, $1,000,000, (2) after the first anniversary and until the second anniversary of the Closing Date, $2,000,000 and (3) from the second anniversary of the Closing Date and thereafter, $3,000,000. 

  
 13 

 “Material Indebtedness” means, at any time, any Indebtedness of any
Obligor, the outstanding principal amount of which, individually or in the aggregate, exceeds $300,000 (or the Equivalent Amount thereof in other currencies). 

“Material Intellectual Property” means (i) all Obligor Intellectual Property described in Schedule
7.05(c), and (ii) any other Obligor Intellectual Property, whether currently owned or licensed or acquired, developed or otherwise licensed or obtained after the date hereof (x) the loss of which could reasonably be expected to have a
Material Adverse Effect, or (y) that has a fair market value in excess of $1,000,000; provided that, for purposes of Sections 8 and 9 hereof, “Material Intellectual Property” shall only constitute Intellectual
Property of the type described in clause (ii) above and, notwithstanding any Intellectual Property described on Schedule 7.05(c), such Intellectual Property shall only qualify as Material Intellectual Property for purposes of Sections
8 and 9 if it meets the qualifications set forth in clause (ii) above. 
 “Maturity Date” means the
fifth (5th) anniversary of the Closing Date. 
 “Medicaid” means that government-sponsored entitlement program under
Title XIX, P.L. 89-97 of the Social Security Act, which provides federal grants to states for medical assistance based on specific eligibility criteria, as set forth on Section 1396, et seq. of Title 42
of the United States Code. 
 “Medicare” means that government-sponsored insurance program under Title XVIII, P.L. 89-97, of the Social Security Act, which provides for a health insurance system for eligible elderly and disabled individuals, as set forth at Section 1395, et seq. of Title 42 of the United States Code. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Multiemployer Plan” means any multiemployer plan, as defined in Section 400l(a)(3) of ERISA, to which any ERISA
Affiliate incurs or otherwise has any obligation or liability, contingent or otherwise. 

“Non-Consenting Lender” means any Lender that does not approve any consent,
waiver or amendment that (i) requires the approval of all or all affected Lenders in accordance with the terms of Section 14.04 and (ii) has been approved by the Required Lenders. 

“Note” means a promissory note, in substantially the form attached hereto as Exhibit C, executed and delivered
by the Borrower in accordance with Section 2.03. 
 “NYUCC” means the Uniform Commercial
Code as in effect from time to time in the State of New York. 
 “Obligations” means, with respect to any Obligor,
all amounts, obligations, liabilities, covenants and duties of every type and description owing by such Obligor to any Secured Party (including all Guaranteed Obligations and Warrant Obligations), any other indemnitee hereunder or any participant,
arising out of, under, or in connection with, any Loan Document, whether direct or indirect (regardless of whether acquired by assignment), absolute or contingent, due or to 

  
 14 

 
become due, whether liquidated or not, now existing or hereafter arising and however acquired, and whether or not evidenced by any instrument or for the payment of money, including, without
duplication, (i) if such Obligor is the Borrower, all Loans, (ii) all interest, whether or not accruing after the filing of any petition in bankruptcy or after the commencement of any insolvency, reorganization or similar proceeding, and
whether or not a claim for post-filing or post-petition interest is allowed in any such proceeding, and (iii) all other fees, expenses (including fees, charges and disbursement of counsel), interest, commissions, charges, costs, disbursements,
indemnities and reimbursement of amounts paid and other sums chargeable to such Obligor under any Loan Document; provided that, for all purposes of this Agreement and each Security Document, once all Obligations (other than Warrant
Obligations and contingent obligations as to which no claims have been asserted) have been satisfied in full as provided in the applicable Loan Documents, Warrant Obligations shall cease to be Obligations hereunder or under any such Security
Document. 
 “Obligor Intellectual Property” means Intellectual Property owned by or licensed to any of the
Obligors. 
 “Obligors” means, collectively, the Borrower and the Subsidiary Guarantors and their respective
successors and permitted assigns. 
 “One-Month LIBOR” means, with respect
to any applicable Interest Period hereunder, the lesser of (i) 4.00% per annum and (ii) the one-month London Interbank Offered Rate for deposits in Dollars at approximately 11:00 a.m. (London,
England time), as determined by the Lender from the appropriate Bloomberg or Telerate page selected by the Lender (or any successor thereto or similar source reasonably determined by the Lender from time to time), which shall be that one-month London Interbank Offered Rate for deposits in Dollars in effect two Business Days prior to the first day of such Interest Period rounded up to the nearest 1/100 of 1%. The Lender’s determination of
interest rates shall be determinative in the absence of manifest error. 
 “Organic Document” means, for any Person,
its certificate of incorporation, by-laws, certificate of partnership, partnership agreement, certificate of formation, limited liability company agreement, operating agreement and all shareholder agreements,
voting trusts and similar arrangements applicable to such Person’s Equity Interests. 
 “Other Connection
Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed,
delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in
any Loan or Loan Document). 
 “Other Taxes” means all present or future stamp, court or documentary, intangible,
recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan
Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 5.04). 

  
 15 

 “Participant” has the meaning set forth in
Section 14.05(e). 
 “Patents” is defined in the Security Agreement. 

“Payment Date” means (i) the last day of each Interest Period and (ii) the Maturity Date. 

“PBGC” means the United States Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor
entity performing similar functions. 
 “Perfection Certificate” means a Perfection Certificate, dated as of the
Closing Date, substantially in the form of Exhibit G. 
 “Permitted Acquisition” means any acquisition by the
Borrower or any of its Subsidiaries, whether by purchase, merger or otherwise, of all or substantially all of the assets of, all of the Equity Interests of, or a business line or unit or a division of, any Person; provided that: 

(a) immediately prior to, and after giving effect thereto, no Default shall have occurred and be continuing or would result
therefrom; 
 (b) all transactions in connection therewith shall be consummated, in all material respects, in accordance with
all Laws and in conformity with all applicable Governmental Approvals; 
 (c) in the case of the acquisition of all of the
Equity Interests of such Person, all of the Equity Interests (except for any such Equity Interests in the nature of directors’ qualifying Equity Interest required pursuant to any Law) acquired, or otherwise issued by such Person or any newly
formed Subsidiary of the Borrower in connection with such acquisition, shall be owned 100% by an Obligor or any other Subsidiary, and the Borrower shall have taken, or caused to be taken, as of the date such Person becomes a Subsidiary of the
Borrower, each of the actions set forth in Section 8.12, if applicable; 
 (d) such Person (in the
case of an acquisition of Equity Interests) or assets (in the case of an acquisition of assets or a division) (i) shall be engaged or used, as the case may be, in the same business or lines of business in which the Borrower and/or its
Subsidiaries are engaged (including, without limitation, any dentistry related business) or (ii) shall have a similar customer base as the Borrower and/or its Subsidiaries; 

(e) on a pro forma basis after giving effect to such acquisition, the Borrower and its Subsidiaries shall be in
compliance with the financial covenants set forth in Section 10; 
 (f) the purchase price for such
acquisition (i) when taken together with the purchase price for all other acquisitions consummated or effected in the prior 12-month period, does not exceed $10,000,000 in the aggregate, and
(ii) when taken together with the purchase price for all other acquisitions consummated or effected since the Closing Date, does not exceed $15,000,000 in the aggregate (in each case, the purchase price being determined by including all
deferred purchase price payments, whether in the form of earn-outs, post-closing adjustments, payment on seller notes or otherwise, to the extent actually paid or payable); 

  
 16 

 (g) the Borrower shall have provided the Lender with at least thirty
(30) Business Days’ prior written notice of any such acquisition, together with summaries, prepared in reasonable detail, of all due diligence conducted by or on behalf of the Borrower or the applicable Subsidiary, as applicable, as of the
date of such notice; and 
 (h) the Lender shall have received a certificate of a Responsible Officer of the Borrower
(prepared in reasonable detail), certifying as to any contingent liabilities, prospective research and development costs associated with the Person or assets being acquired and any earn-outs, post-closing adjustments, payment on seller notes or
similar obligations to be incurred in connection with such Permitted Acquisition. 
 “Permitted Cash Equivalent
Investments” means (a) any readily-marketable securities (i) issued by, or directly, unconditionally and fully guaranteed or insured by the United States federal government or (ii) issued by any agency of the United
States federal government the obligations of which are fully backed by the full faith and credit of the United States federal government, (b) any readily-marketable direct obligations issued by any other
agency of the United States federal government, any state of the United States or any political subdivision of any such state or any public instrumentality thereof, in each case having a rating of at least
“A-1” from S&P or at least “P-1” from Moody’s, (c) any commercial paper rated at least
“A-1” by S&P or “P-1” by Moody’s and issued by any Person organized under the laws of any state of the United States, (d) any
Dollar-denominated time deposit, insured certificate of deposit, overnight bank deposit or bankers’ acceptance issued or accepted by (i) any Lender or (ii) any commercial bank that is (A) organized under the laws of the United
States, any state thereof or the District of Columbia, (B) “adequately capitalized” (as defined in the regulations of its primary federal banking regulators) and (C) has Tier 1 capital (as defined in such regulations) in excess of
$500,000,000, (e) shares of any United States money market fund that (i) has substantially all of its assets invested continuously in the types of investments referred to in clause (a), (b), (c) or (d) above with
maturities as set forth in the proviso below, (ii) has net assets in excess of $500,000,000 and (iii) has obtained from either S&P or Moody’s the highest rating obtainable for money market funds in the United States;
provided, however, that the maturities of all obligations specified in any of clauses (a), (b), (c) or (d) above shall not exceed 365 days, and (f) with respect to Foreign Subsidiaries, in addition
to the types of investments referred to in clauses (a), (b), (c), (d) and (e) above, investments denominated in the currency of the jurisdiction in which such Foreign Subsidiary is organized or has its
principal place of business which are similar to the items specified in clauses (a), (b), (c), (d) and (e) above. 

“Permitted Indebtedness” means any Indebtedness permitted under Section 9.01. 

“Permitted Liens” means any Liens permitted under Section 9.02. 

“Permitted Priority Liens” means (i) Liens permitted under Section 9.02(c),
(d), (e), (f) or (i), and (ii) Liens permitted under Section 9.02(b); provided that such Liens are also of the type described in Section 9.02(c), (d), (e),
(f) or (i). 

  
 17 

 “Permitted Refinancing” means, with respect to any Indebtedness, any
extensions, renewals and replacements of such Indebtedness; provided that such extension, renewal or replacement (i) shall not increase the outstanding principal amount of such Indebtedness, (ii) contains terms relating to
outstanding principal amount, amortization, maturity, collateral (if any) and subordination (if any), and other material terms taken as a whole no less favorable in any material respect to the Borrower and its Subsidiaries or the Secured Parties
than the terms of any agreement or instrument governing such existing Indebtedness, (iii) shall have an applicable yield which does not exceed the yield of the Indebtedness being replaced by more than 2.00%, (iv) shall not contain any new
requirement to grant any lien or security or to give any Guarantee that was not an existing requirement of such Indebtedness, and (v) after giving effect to such extension, renewal or replacement, no Default shall have occurred as a result
thereof. 
 “Person” means any individual, corporation, company, voluntary association, partnership, limited
liability company, joint venture, trust, unincorporated organization or Governmental Authority or other entity of whatever nature. 

“PIK Interest” has the meaning set forth in Section 3.02(d). 

“PIK Loan” has the meaning set forth in Section 3.02(d). 

“PIPSTEK Unit Purchase Agreement” means that certain Unit Purchase Agreement dated December 20, 2016, by and
between PIPSTEK, LLC, Endo 1, LLC and the Borrower (as amended, restated, or otherwise modified through the date hereof), a copy of which has been provided to the Lender prior to the Closing Date. 

“Prepayment Date” has the meaning set forth in Section 3.03(a)(i). 

“Prepayment Premium” means, with respect to any prepayment of the Loans pursuant to
Section 3.03(a) or (b) occurring: 
 (i) on or prior to the first anniversary of the Closing Date, an
amount equal to 4.00% of the aggregate outstanding principal amount of the Loans being prepaid on such Prepayment Date; 
 (ii) after the
first anniversary of the Closing Date and on or prior to the second anniversary of the Closing Date, an amount equal to 2.00% of the aggregate outstanding principal amount of the Loans being prepaid on such Prepayment Date; 

(iii) after the second anniversary of the Closing Date and on or prior to the third anniversary of the Closing Date, an amount equal to 1.00%
of the aggregate outstanding principal amount of the Loans being prepaid on such Prepayment Date; and 
 (iv) after the third anniversary of
the Closing Date, no Prepayment Premium will be payable. 
 “Product” means (i) those Devices set forth (and
described in reasonable detail) on Schedule 2 attached hereto, and (ii) any current or future Device developed, manufactured, licensed, marketed, sold or otherwise commercialized by the Borrower or any of its Subsidiaries, including any
such Device currently in development. 

  
 18 

 “Product Agreement” means, with respect to any Product, any
Contract, license, document, instrument, interest (equity or otherwise) or the like under which one or more Persons grants or receives (i) any right, title or interest with respect to the Product Development and Commercialization Activities of
any Product, or (ii) any right to exclude any other Person from engaging in, or otherwise restricting any right, title or interest as to, any Product Development and Commercialization Activities with respect to such Product, including any
Contract with suppliers, manufacturers, distributors, clinical research organizations, hospitals, group purchasing organizations, wholesalers, pharmacies or any other Person related to such entity. 

“Product Authorizations” means any and all Regulatory Approvals (including all applicable IDEs, 510(k)s, Product
Standards, supplements, amendments, pre- and post- approvals, governmental price and reimbursement approvals and approvals of applications for regulatory exclusivity), clearances, licenses, notifications,
registrations or authorizations of any Regulatory Authority necessary for the ownership, use or other commercialization of any Product or for any Product Development and Commercialization Activities with respect thereto in any country or
jurisdiction. 
 “Product Development and Commercialization Activities” means, with respect to any Product, any
combination of research, development, manufacture, importation, use, sale, storage, design, labeling, marketing, promotion, supply, distribution, testing, packaging, purchasing or other commercialization activities, receipt of payment in respect of
any of the foregoing, or like activities the purpose of which is to commercially exploit such Product. 
 “Product Related
Information” means, with respect to any Product, all Product Agreements, books, records, lists, ledgers, files, manuals, Contracts, correspondence, reports, plans, drawings, data and other information of every kind (in any form or
medium), and all techniques and other know-how, owned or possessed by the Borrower or any of its Subsidiaries that is necessary or useful for any Product Development and Commercialization Activities relating
to such Product, including (i) brand materials, packaging and other trade dress, customer targeting and other marketing, promotion and sales materials and information, referral, customer, supplier and other contact lists and information,
product, business, marketing and sales plans, research, studies and reports, sales, maintenance and production records, training materials and other marketing, sales and promotional information, (ii) clinical data, information included or
supporting any Product Authorization or other Regulatory Approval, any regulatory filings, updates, notices and correspondence (including adverse event and other pharmacovigilance and other post-marketing reports and information, etc.), technical
information, product development and operational data and records, and all other documents, records, files, data and other information relating to product development, manufacture and use, (iii) litigation and dispute records, and accounting
records; (iv) all documents, records and files relating to Intellectual Property, including all correspondence from and to third parties (including Intellectual Property counsel and patent, trademark and other intellectual property registries,
including the U.S. Patent & Trademark Office), and (v) all other information, techniques and know-how necessary or useful in connection with the Product Development and Commercialization
Activities for any Product. 

  
 19 

 “Product Standards” means all safety, quality and other
specifications and standards applicable to any Product, including all medical device and other standards promulgated by Standards Bodies. 

“Prohibited Payment” means any bribe, rebate, payoff, influence payment, kickback or other payment or gift of money or
anything of value (including meals or entertainment) to any officer, employee or ceremonial office holder of any government or instrumentality thereof, political party or supra-national organization (such as the United Nations), any political
candidate, any royal family member or any other person who is connected or associated personally with any of the foregoing that is prohibited under any Law for the purpose of influencing any act or decision of such payee in his official capacity,
inducing such payee to do or omit to do any act in violation of his lawful duty, securing any improper advantage or inducing such payee to use his influence with a government or instrumentality thereof to affect or influence any act or decision of
such government or instrumentality. 
 “Public Offering” means any sale of Equity Interests of a Person pursuant to
an offering that is underwritten on a firm commitment basis by a nationally recognized investment banking firm and, as a result of which, such Person becomes subject to the reporting requirements of Section 13 or Section 15 of the Exchange
Act immediately following such offering. 
 “Qualified Equity Interest” means, with respect to any Person, any
Equity Interest of such Person that is not a Disqualified Equity Interest. 
 “Real Property Security Documents”
means any Landlord Consents, Bailee Letters and any mortgage or deed of trust or any other real property security document executed or required hereunder to be executed by any Obligor and granting a security interest in real property owned or leased
(as tenant) by any Obligor in favor of the Collateral Agent for the benefit of the Secured Parties. 
 “Recipient”
means any Lender or any other recipient of any payment to be made by or on account of any Obligation. 
 “Redemption
Price” has the meaning set forth in Section 3.03(a)(i). 
 “Referral Source”
has the meaning set forth in Section 7.07(b). 
 “Register” has the meaning set forth in
Section 14.05(d). 
 “Regulation T” means Regulation T of the Board of Governors of the
Federal Reserve System, as amended. 
 “Regulation U” means Regulation U of the Board of Governors of the Federal
Reserve System, as amended. 
 “Regulation X” means Regulation X of the Board of Governors of the Federal Reserve
System, as amended. 
 “Regulatory Approvals” means any Governmental Approval relating to any Product or Product
Development and Commercialization Activities, including all Product Authorizations held by any Obligor or any of their respective licensors, as applicable, or that are pending before the FDA or equivalent
non-U.S. Governmental Entity with respect to the Products. 

  
 20 

 “Regulatory Authority” means any Governmental Authority (including
the FDA and all equivalent Governmental Authorities having jurisdiction outside the U.S.) that is concerned with or has regulatory oversight with respect to the use, permitting, control, safety, efficacy, reliability, manufacturing, marketing,
distribution, sale or other Product Development and Commercialization Activities relating to any Device, including any Product, of an Obligor. 

“Related Fund” means any Fund that is administered or managed by (i) a Lender, (ii) an Affiliate of a Lender
or (iii) an entity or an Affiliate of an entity that administers or manages a Lender. 
 “Related Parties” has
the meaning set forth in Section 14.16. 
 “Required Lenders” means, at any time, Lenders
holding more than 50% of the then aggregate unpaid principal amount of the Loans, or, if no such principal amount is then outstanding, Lenders having more than 50% of the aggregate Commitments. 

“Responsible Officer” means, for any Person, each of the chief executive officer, president or chief financial officer
of such Person. 
 “Restricted Payment” means any dividend or other distribution (whether in cash, securities or
other property) with respect to any Equity Interest of the Borrower or any of its Subsidiaries, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption,
retirement, acquisition, cancellation or termination of any such Equity Interests of the Borrower or any of its Subsidiaries or any option, warrant or other right to acquire any such Equity Interests of the Borrower or any of its Subsidiaries. 

“Restrictive Agreement” means any indenture, agreement, instrument or other arrangement that prohibits, restricts or
imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit to exist any Lien upon any of its property or assets, except to the extent (i) existing on the date hereof and identified in
Schedule 7.15 and any extensions, renewals and replacements thereof that do not expand the scope of the restrictive provisions contained therein, (ii) consisting of customary provisions in Contracts (including, without limitation,
leases, licenses of Intellectual Property) restricting the assignment thereof, (iii) consisting of customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary or property pending such sale and
(iv) imposed by any agreement relating to Permitted Indebtedness and secured by Permitted Liens with respect to the assets subject to such Liens; provided such restrictions and conditions apply only to the Subsidiary or property that is
to be sold or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any shares of its Equity Interests, incur any Indebtedness, transfer any of its property to an Obligor or to make or repay loans or advances
to the Borrower or any other Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary, except to the extent existing on the date hereof and identified in Schedule 7.15 and any extensions, renewals and replacements
thereof that do not expand the scope of the restrictive provisions contained therein. 

  
 21 

 “Revenue” means, for any relevant fiscal period, the consolidated
net revenues of the Borrower and the Subsidiaries related to the sale of Products for such fiscal period generated from Product Development and Commercialization Activities in respect of Products, determined on a consolidated basis in accordance
with GAAP, excluding any one-time payments (including license fees, milestones and other similar one-time payments) not related to the sale of Products. 

“Revenue Covenant Cure” has the meaning set forth in Section 10.03. 

“Sanction” means any international economic sanction administered or enforced by the United States Government
(including, without limitation, OFAC), the United Nations Security Council, the European Union or its Member States, Her Majesty’s Treasury or other relevant sanctions authority. 

“Secured Parties” means the initial Lender and any other Person that becomes a “Lender” hereunder, the
Collateral Agent, each other Indemnified Party and any other holder of any Obligation. 
 “Securities Act” means the
Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 
 “Security Agreement”
means the Security Agreement, dated as of the date hereof, among the Obligors and the Collateral Agent, granting a security interest in the Obligors’ personal property in favor of the Collateral Agent, for the benefit of the Secured Parties,
and in substantially the form attached hereto as Exhibit H. 
 “Security Documents” means, collectively, the
Security Agreement, each Short-Form IP Security Agreement, each Real Property Security Document, and each other security document, control agreement or financing statement required or recommended to perfect Liens in favor of the Secured Parties.

 “Securities Account” has the meaning set forth in the Security Agreement. 

“Short-Form IP Security Agreements” means short-form copyright, patent or trademark (as the case may be) security
agreements, dated as of the date hereof and substantially in the form attached as Exhibits B, C, and D to the Security Agreement, entered into by one or more Obligors in favor of the Collateral Agent, for the benefit of the Secured Parties, each in
form and substance reasonably satisfactory to the Lender (and as amended, modified or replaced from time to time). 
 “Shortfall
Default” has the meaning set forth in Section 10.03. 
 “Solvent” means, with
respect to any Person at any time, that (i) the present fair saleable value of the property of such Person is greater than the total amount of liabilities (including contingent liabilities) of such Person, (ii) the present fair saleable
value of the property of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured and (iii) such Person has not incurred and does not intend to,
and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and liabilities mature. 

  
 22 

 “Subsidiary” means, with respect to any Person (the
“parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity of which Equity Interests representing more than 50%
of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held by the parent or one or more Subsidiaries of the parent
or by the parent and one or more Subsidiaries of the parent. 
 “Subsidiary Guarantors” means each of the
Subsidiaries of the Borrower identified under the caption “SUBSIDIARY GUARANTORS” on the signature pages hereto and each Subsidiary of the Borrower that becomes, or is required to become, a “Subsidiary Guarantor” after the date
hereof pursuant to Section 8.12(a). 
 “S&P” means Standard & Poor’s
Rating Services. 
 “Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings
(including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Technical Information” means all trade secrets and other proprietary or confidential information, public information,
non-proprietary know-how, any information of a scientific, technical, or business nature in any form or medium, standards and specifications, conceptions, ideas,
innovations, discoveries, Invention disclosures, all documented research, developmental, demonstration or engineering work and all other information, data, plans, specifications, reports, summaries, experimental data, manuals, models, samples, know-how, technical information, systems, methodologies, computer programs, information technology and any other information. 

“Title IV Plan” means an employee benefit plan (as defined in Section 3(3) of ERISA) other than a Multiemployer
Plan (i) that is or was at any time maintained or sponsored by the Borrower or any of its Subsidiaries or any ERISA Affiliate thereof or to which the Borrower or any of its Subsidiaries or any ERISA Affiliate thereof has ever made, or was
obligated to make, contributions, and (ii) that is or was subject to Section 412 of the Code, Section 302 of ERISA or Title IV of ERISA. 

“Trademarks” is defined in the Security Agreement. 

“Transactions” means the execution, delivery and performance by each Obligor of this Agreement and the other Loan
Documents to which such Obligor is intended to be a party, the Borrowings of the Loans and the use of the proceeds thereof, the granting and perfection of the Liens created under and pursuant to the Loan Documents, and all other transactions
contemplated pursuant to this Agreement and the other Loan Documents. 
 “United States” or
“U.S.” means the United States of America. 

  
 23 

 “U.S. Person” means a “United States Person” within the
meaning of Section 7701(a)(30) of the Code. 
 “U.S. Tax Compliance Certificate” has the meaning set forth in
Section 5.03(e)(ii)(B)(3). 
 “UCC” means the Uniform Commercial Code as in effect in the
applicable jurisdiction, as may be modified from time to time. 
 “Warrant” means, as the context may require,
either the Closing Date Warrant, the Delayed Draw Date Warrant or both. 
 “Warrant Agreement” means a Warrant
Certificate and Agreement in substantially the form of Exhibit I, by and between the Borrower and the Lender (or one or more Affiliates), pursuant to which a Warrant is issued. 

“Warrant Obligations” means all Obligations of the Borrower arising out of, under or in connection with the Closing
Date Warrant, Delayed Draw Date Warrant or both. 
 “Withdrawal Liability” means, at any time, any liability
incurred (whether or not assessed) by any ERISA Affiliate and not yet satisfied or paid in full at such time with respect to any Multiemployer Plan pursuant to Section 4201 of ERISA. 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion
powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 
 1.02 Accounting Terms and Principles 

1.03 . 
 (a) Unless otherwise specified,
all accounting terms used in each Loan Document shall be interpreted, and all accounting determinations and computations thereunder (including under Section 10 and any definitions used in such calculations) shall be made,
in accordance with GAAP. Unless otherwise expressly provided, all financial covenants and defined financial terms shall be computed on a consolidated basis for the Borrower and its Subsidiaries, in each case without duplication. 

(b) If at any time any change in GAAP or the application thereof would affect the computation of any financial term, covenant, ratio or
requirement set forth in any Loan Document, and either the Borrower or the Lender shall so request, the Lender and the Borrower shall negotiate in good faith to amend such term, covenant, ratio or requirement to preserve the original intent thereof
set forth in the applicable Loan Document in light of such change in GAAP or application thereof; provided that, until so amended, (i) such term, covenant, ratio or requirement shall continue to be computed in accordance with GAAP prior
to such change therein and (ii) the Borrower shall provide to the Lender financial statements, Compliance Certificates and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between
calculations of such term, covenant, ratio or requirement made before and after giving effect to such change in GAAP or application thereof. 

  
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 (c) Notwithstanding anything to the contrary contained herein, any change to GAAP that would
require operating leases to be treated similarly to Capital Lease Obligations shall not be given effect to the definition of Indebtedness or any related definitions or in the computation of any financial ratio or requirement hereunder. 

1.03 Interpretation. For all purposes of this Agreement, except as otherwise expressly provided herein or unless the context otherwise requires, 

(a) the terms defined in this Agreement include the plural as well as the singular and vice versa; 

(b) words importing gender include all genders; 

(c) any reference to a Section, Annex, Schedule or Exhibit refers to a Section of, or Annex, Schedule or Exhibit to, this Agreement; 

(d) any reference to “this Agreement” refers to this Agreement, including all Annexes, Schedules and Exhibits hereto, and the words
herein, hereof, hereto and hereunder and words of similar import refer to this Agreement and its Annexes, Schedules and Exhibits as a whole and not to any particular Section, Annex, Schedule, Exhibit or any other subdivision; 

(e) references to days, months and years refer to calendar days, months and years, respectively; 

(f) all references herein to “include” or “including” shall be deemed to be followed by the words “without
limitation”; 
 (g) the word “from” when used in connection with a period of time means “from and including” and the
word “until” means “to but not including”; 
 (h) the words “asset” and “property” shall be construed
to have the same meaning and effect and to refer broadly to any and all assets and properties, whether tangible or intangible, real or personal, including cash, Equity Interests, rights under Contractual obligations and permits and any right or
interest in any such assets or property; 
 (i) the word “will” shall have the same meaning as the word “shall”; 

(j) where any provision in this Agreement or any other Loan Document refers to an action to be taken by any Person, or an action which such
Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly; 

  
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 (k) references to any Lien granted or created hereunder or pursuant to any other Loan
Document securing any Obligations shall deemed to be a Lien for the benefit of the Secured Parties; 
 (l) references to organizational
documents, agreements (including the Loan Documents) and other Contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto not prohibited by the Loan Documents;
and 
 (m) accounting terms not specifically defined herein (other than “property” and “asset”) shall be construed in
accordance with GAAP. 
 SECTION 2 

THE COMMITMENT AND THE LOANS 
 2.01
Loans. 
 (a) On the terms and subject to the conditions of this Agreement, the Lender agrees to make the Initial Loan to the Borrower in
a single Borrowing on the Closing Date. 
 (b) On the terms and subject to the conditions of this Agreement, the Lender agrees to make the
Delayed Draw Loan to the Borrower in a single Borrowing on the Delayed Draw Date. 
 (c) No amounts paid or prepaid with respect to any Loan
may be reborrowed. 
 (d) Any term or provision hereof (or of any other Loan Document) to the contrary notwithstanding, Loans made to the
Borrower will be denominated solely in Dollars and will be repayable solely in Dollars and no other currency. 
 2.02 Borrowing Procedures. 

(a) At least three (but not more than five) Business Days prior to the proposed Borrowing Date (or one Business Day with respect to the
Borrowing on the Closing Date), the Borrower shall deliver to the Lender an irrevocable Borrowing Notice (which notice, if received by the Lender on a day that is not a Business Day or after 10:00 A.M. Eastern time on a Business Day, shall be deemed
to have been delivered on the next Business Day). 
 (b) After receipt of a Borrowing Request, the Lender shall, on the applicable Borrowing
Date and subject to the terms and conditions hereof, make the proceeds of the requested Loan available to the Borrower by wire transfer to the account the Borrower shall have specified in its Borrowing Request. 

  
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 2.03 Notes. If requested by the Lender, the Loans shall be evidenced by one or more Notes. The
Borrower shall prepare, execute and deliver to the Lender such promissory note(s) payable to the Lender (or, if requested by the Lender, to the Lender and its registered assigns) and substantially in the form attached hereto as Exhibit C.
Thereafter, the Loans and interest thereon shall at all times (including after assignment pursuant to Section 14.05) be represented by one or more promissory notes in such form payable to the payee named therein (or, if
such promissory note is a registered note, to such payee and its registered assigns). 
 2.04 Use of Proceeds. The Borrower shall use the
proceeds of the Loans for general business purposes, including the payment of fees and expenses associated with this Agreement. 
 SECTION
3 
 PAYMENTS OF PRINCIPAL AND INTEREST 

3.01 Repayment. From the Closing Date until the third anniversary of the Closing Date, no scheduled repayment of the aggregate outstanding principal
amount of the Loans shall be required. Thereafter, on the last Business Day of each calendar month following the third anniversary of the Closing Date, the Borrower shall make a scheduled principal payment of $300,000, with any remaining unpaid
principal amount of the Loans to be payable in full and in cash on the Maturity Date. Except as earlier provided pursuant to Sections 3.03(b) and 11.02, the Borrower shall repay the entire outstanding balance of the Loans in full, in
cash, on the Maturity Date. 
 3.02 Interest. 

(a) Interest Generally. The outstanding principal amount of the Loans, as well as all other outstanding Obligations, shall accrue
interest at the Interest Rate. 
 (b) Default Interest. Notwithstanding the foregoing, upon the occurrence and during the continuance
of any Event of Default, the Applicable Margin shall increase automatically by 3.00% per annum (the Interest Rate, as increased pursuant to this Section 3.02(b), being the “Default Rate”). If
any Obligation is not paid when due under any applicable Loan Document, the amount thereof shall accrue interest at the Default Rate until paid. 

(c) Interest Payment Dates. Accrued interest on the Loans shall be payable in arrears on each Payment Date, and on any date of payment
or prepayment of the Loans, in whole or in part (on the principal amount being so paid or prepaid); provided that interest payable at the Default Rate shall also be payable from time to time on demand by the Lender. 

(d) PIK Interest Option. Any term or provision hereof to the contrary notwithstanding, all interest payable hereunder shall be payable
in cash, except that, with respect to any Payment Date occurring on or prior to the third anniversary of the Closing Date, so long as no Event of Default has occurred and is continuing on such date, by delivery of written notice to

  
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the Collateral Agent not less than five (5) Business Days prior to such Payment Date, the Borrower may elect to pay a part of the interest accruing for the Interest Period ending on such
Payment Date equal to 2.75% per annum “in kind” (“PIK Interest”); provided that (i) such election shall only relate to interest that (x) is due and payable on such Payment Date and (y) has
accrued during the Interest Period ending on such Payment Date, and (ii) the remainder of any interest due and payable on such Payment Date will continue to be due and payable in cash on such date. To the extent the Borrower elects to pay
PIK Interest pursuant to this Section 3.02(d) on any Payment Date, such PIK Interest shall be capitalized and added to the outstanding principal amount of the Loans on such Payment Date, and such PIK Interest shall be
deemed to be a Loan made hereunder by the Lender (a “PIK Loan”). The aggregate principal amount of any PIK Loan will be equal to the amount of such PIK Interest elected to be paid “in kind” by the Borrower on the
applicable Payment Date. For purposes of this Agreement and the other Loan Documents, each PIK Loan will bear interest (which shall be due and payable) in accordance with this Section 3. Notwithstanding anything
to the contrary contained in this Agreement or in any other Loan Document, all interest must be paid in cash, irrespective of any election at any time by the Borrower to pay such interest in the form of PIK Interest if (x) any Default has
occurred and is continuing on any Payment Date, or (y) the Payment Date occurs after the third anniversary of the Closing Date. 
 3.03
Prepayments. 
 (a) Optional Prepayments. 

(i) Subject to prior written notice pursuant to clause (ii) below, the Borrower shall have the right to optionally prepay in whole
or in part the outstanding principal amount of the Loans on any Business Day (a “Prepayment Date”); provided that, in addition to the amount of the Loans so prepaid, the Borrower will pay to the Lender the sum of
(x) the applicable Prepayment Premium on the principal amount of the Loans being so prepaid and (y) any accrued but unpaid interest on such principal amount of the Loans being so prepaid (such aggregate principal amount of the Loans being
prepaid, plus the sum of clauses (x) and (y) above, being, the “Redemption Price”). 
 (ii) A
notice of optional prepayment shall be effective only if received by the Lender not later than 2:00 p.m. (Eastern time) on a date not less than three (nor more than five) Business Days prior to the proposed date of prepayment. Each notice of
optional prepayment shall specify the Redemption Price and the principal amount to be prepaid, as well as the date of prepayment. 
 (b)
Mandatory Prepayments. Upon the occurrence of (x) a Casualty Event which, when take together with all other Casualty Events occurring in any fiscal year, results in net insurance proceeds in excess of $250,000 in such fiscal year, or
(y) an Asset Sale (not otherwise permitted by Section 9.09) which, when take together with all other such Asset Sales occurring in any fiscal year, results in net sale proceeds in excess of $250,000 in such fiscal
year, the Borrower shall make a mandatory prepayment to the Lender in an amount equal to 100% of the net insurance or net sale proceeds, as the case may be, received by the Borrower in respect of the forgoing, which

  
 28 

 
amount shall be applied as set forth in Section 3.03(c); provided that, so long as no Default shall have occurred and be continuing or shall result therefrom, the
Borrower may use proceeds received in connection with any Casualty Event or Asset Sale, as the case may be, to acquire or repair fixed or capital assets useful in the Borrower’s or its Subsidiaries’ businesses, as long as such investment
is made within six (6) months of such Casualty Event or Asset Sale, as the case may be, or nine (9) months of such Casualty Event or Asset Sale, as the case may be, so long as Borrower or its Subsidiaries has entered into a binding
contract therefor within six (6) months of the Casualty Event or Asset Sale, as the case may be, in which case, no prepayment is required hereunder. Any term or provision hereof to the contrary notwithstanding, unless the Required Lenders
otherwise consent in writing, no Asset Sale is permitted hereunder or under any other Loan Document other than as expressly permitted pursuant to Section 9.09. 

(c) Application. All prepayments made pursuant to clauses (a) or (b) above shall be applied as follows: 

(i) first, to the payment of any Obligations of the Obligors in respect of any costs or expenses referred to in
Section 14.03 then due and owing until paid in full; 
 (ii) second, to the payment of any Obligations of
the Obligors in respect of any unpaid interest and any fees (including the applicable Prepayment Premium) then due and owing until paid in full; 

(iii) third, to the payment of any Obligations of the Obligors in respect of any amounts due and owing on account of the unpaid
principal amount of the Loans until paid in full; 
 (iv) fourth, to the payment of any other Obligation then due and owing until paid
in full; and 
 (v) fifth, to the Borrower or such other Persons as may lawfully be entitled to or directed by the Borrower to receive
the remainder. 
 SECTION 4 

PAYMENTS, ETC. 
 4.01 Payments. 

(a) Payments Generally. Each payment of principal, interest and other amounts to be made by the Obligors under this Agreement or any
other Loan Document shall be made in Dollars, in immediately available funds, without deduction, set off or counterclaim, to an account to be designated by the Lender by notice to the Borrower, not later than 2:00 p.m. (Eastern time) on the date on
which such payment shall become due (each such payment made after such time on such due date to be deemed to have been made on the next succeeding Business Day). 

(b) Application of Payments. Unless otherwise agreed by the Lender, all amounts received by the Lender in respect of the Obligations
will be applied as set forth in Section 3.03(c). 

  
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 (c) Non-Business Days. If the due date of any
payment under this Agreement would otherwise fall on a day that is not a Business Day, such date shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall continue to accrue and
be payable through the period of such extension. 
 4.02 Computations. All computations of interest and fees hereunder shall be computed on the basis
of a year of 360 days and actual days elapsed during the period for which payable. 
 4.03 Set-Off. 

(a) Set-Off Generally. Upon the occurrence and during the continuance of any Event of Default,
the Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time
held and other indebtedness at any time owing by the Lender and any of its Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such
obligations may be unmatured. The Lender agrees promptly to notify the Borrower after any such set-off and application; provided that the failure to give such notice shall not affect the validity of
such set-off and application. The rights of the Lender and each of its Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have. 
 (b) Exercise of Rights Not Required. Nothing contained in
Section 4.03(a) shall require the Lender and any of its Affiliates to exercise any such right or shall affect the right of such Persons to exercise, and retain the benefits of exercising, any such right with respect to any
other indebtedness or obligation of any Obligor. 
 SECTION 5 

YIELD PROTECTION, ETC. 
 5.01 Additional
Costs. 
 (a) Change in Laws Generally. If, on or after the date hereof, the adoption of any Law, or any change in any Law, or any
change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by the Lender (or its lending office) with any request or directive (whether
or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution,
insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, the Lender (or its lending office) or shall impose on the Lender
(or its lending office) any other condition affecting the Loans or the Commitment, 

  
 30 

 
and the result of any of the foregoing is to increase the cost to the Lender of making or maintaining the Loans, or to reduce the amount of any sum received or receivable by the Lender under this
Agreement or any other Loan Document, or subject the Lender to any Taxes on its Loan, Commitment or other obligations, or its deposits, reserves, other liabilities or capital (if any) attributable thereto by an amount deemed by the Lender to be
material (other than (i) Indemnified Taxes, (ii) Taxes described in clause (ii) through (iv) of the definition of “Excluded Taxes”) and (iii) Connection Income Taxes, then the Borrower shall
pay to the Lender within ten (10) Business Days following demand therefor such additional amount or amounts as will compensate the Lender for such increased cost or reduction. 

(b) Change in Capital Requirements. If the Lender shall have determined that, on or after the date hereof, the adoption of any Law
regarding capital adequacy, or any change therein, or any change in the interpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or any request or directive regarding capital
adequacy (whether or not having the force of law) of any such Governmental Authority, in each case that becomes effective after the date hereof, has or would have the effect of reducing the rate of return on capital of the Lender (or its parent) as
a consequence of the Lender’s obligations hereunder or the Loans to a level below that which the Lender (or its parent) could have achieved but for such adoption, change, request or directive by an amount reasonably deemed by it to be material,
then the Borrower shall pay to the Lender within ten (10) Business Days following demand therefor such additional amount or amounts as will compensate the Lender (or its parent) for such reduction. 

(c) Notification by Lender. The Lender promptly will notify the Borrower in writing of any event of which it has knowledge, occurring
after the date hereof, which will entitle the Lender to compensation pursuant to this Section 5.01. Such notice shall set forth in reasonable detail the calculation of the compensation being requested. Before giving any
such notice pursuant to this Section 5.01(c) the Lender shall designate a different lending office if such designation (x) will, in the reasonable judgment of the Lender, avoid the need for, or reduce the amount of,
such compensation and (y) will not, in the reasonable judgment of the Lender, be materially disadvantageous to the Lender. A certificate of the Lender claiming compensation under this Section 5.01, setting forth in
reasonable detail the additional amount or amounts to be paid to it hereunder, shall be conclusive and binding on the Borrower in the absence of manifest error. 

(d) Notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests,
rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any
successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to constitute a change in Law for all purposes of this Section 5.01,
regardless of the date enacted, adopted or issued. 

  
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 5.02 Illegality. Notwithstanding any other provision of this Agreement, in the event that on or after
the date hereof the adoption of or any change in any Law or in the interpretation or application thereof by any competent Governmental Authority shall make it unlawful for the Lender or its lending office to make or maintain the Loans (and, in the
opinion of the Lender, the designation of a different lending office would either not avoid such unlawfulness or would be disadvantageous to the Lender), then the Lender shall promptly notify the Borrower thereof, following which (i) the
Lender’s Commitment shall be suspended until such time as the Lender may again make and maintain the Loans hereunder and (ii) if such Law shall so mandate, the Loans shall be prepaid by the Borrower on or before such date as shall be
mandated by such Law in an amount equal to the Redemption Price applicable on the date of such prepayment in accordance with Section 3.03(a). 

5.03 Taxes. 
 (a) Payments Free of
Taxes. Any and all payments to any Lender by or on account of any Obligation shall be made without deduction or withholding for any Taxes, except as required by any Law. If any Law (as determined in the good faith discretion of the Borrower)
requires the deduction or withholding of any Tax from any such payment by an Obligor in respect of any Obligation, then such Obligor shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to
the relevant Governmental Authority Law and, if such Tax is an Indemnified Tax, then the sum payable by such Obligor shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and
withholdings applicable to additional sums payable under this Section 5) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(b) Payment of Other Taxes by the Borrower. The Borrower shall timely pay to the relevant Governmental Authority in accordance with Law,
or at the option of the applicable Lender, timely reimburse it for, Other Taxes. 
 (c) Evidence of Payments. As soon as practicable
after any payment of Taxes by the Borrower to a Governmental Authority pursuant to this Section 5, the Borrower shall deliver to each applicable Recipient the original or a certified copy of a receipt issued by such
Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Recipient. 

(d) Indemnification by the Borrower. The Borrower shall reimburse and indemnify each applicable Recipient, within ten (10) Business
Days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 5) payable or paid by such Recipient or
required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by such applicable Recipient shall be conclusive absent manifest error 

  
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 (e) Status of Lenders. 

(i) Any Recipient that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document
shall deliver to the Borrower such properly completed and executed documentation reasonably requested by the Borrower as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, each applicable
Recipient shall deliver such other documentation prescribed by Law as reasonably requested by the Borrower as will enable the Borrower to determine whether or not such Recipient is subject to backup withholding or information reporting
requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section 5.03(e)(ii)(A),
(ii)(B), and (ii)(D)) shall not be required if in such Lender’s reasonable judgment such completion, execution or submission would subject such Recipient to any material unreimbursed cost or expense or would materially prejudice the
legal or commercial position of such Recipient. 
 (ii) Without limiting the generality of the foregoing, in the event that the Borrower is a
U.S. Person: 
 (A) any Recipient that is a U.S. Person shall deliver to the Borrower on or prior to the date on which such Recipient
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower), executed copies of IRS Form W-9 (or successor form) certifying that such Recipient is
exempt from U.S. federal backup withholding tax; 
 (B) any non-U.S. Lender shall, to the extent it
is legally entitled to do so, deliver to the Borrower (in such number of copies as shall be requested by the recipient) on or prior to the date on which such non-U.S. Lender becomes a Lender under this
Agreement (and from time to time thereafter upon the reasonable request of the Borrower), whichever of the following is applicable: 
 (1)
in the case of a non-U.S. Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed copies of
IRS Form W-8BEN or IRS Form W-8BEN-E as applicable (or successor forms) establishing an exemption from, or reduction of, U.S.
federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E as applicable (or successor forms) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business
profits” or “other income” article of such tax treaty; 
 (2) executed copies of IRS Form
W-8ECI (or successor form); 
 (3) in the case of a non-U.S.
Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit D-1 to the effect that such non-U.S. Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the applicable the Borrower within the meaning of
Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E as applicable (or successor forms); or 

  
 33 

 (4) to the extent a non-U.S. Lender is not the
beneficial owner, executed copies of IRS Form W-8IMY (or successor form), accompanied by IRS Form W-8ECI (or successor form), IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form), a U.S. Tax Compliance Certificate, substantially in the form of Exhibit D-2 or D-3, IRS Form W-9 (or successor form), and/or other certification documents from each beneficial owner, as
applicable; provided that if the non-U.S. Lender is a partnership and one (1) or more direct or indirect partners of such non-U.S. Lender are claiming the
portfolio interest exemption, such non-U.S. Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit D-4 on behalf of each such
direct and indirect partner on behalf of each such direct and indirect partner. 
 (C) any non-U.S.
Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower (in such number of copies as shall be requested by the recipient) on or prior to the date on which such non-U.S. Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower), executed copies of any other form prescribed by Law as a basis for claiming exemption from or a reduction in U.S. federal
withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by Law to permit the Borrower to determine the withholding or deduction required to be made; and 

(D) any non-U.S. Lender shall deliver to the Borrower any forms and information necessary to establish
that such non-U.S. Lender is not subject to withholding tax under FATCA. 
 Each Lender agrees that if any form or
certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower in writing of its legal inability to do so. 

(f) Treatment of Certain Tax Benefits. If any party to this Agreement determines, in its sole discretion exercised in good faith, that
it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 5 (including by the payment of additional amounts pursuant to this Section 5), it shall pay to the
indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section 5 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying
party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that
such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 5.03(f), in no event will the indemnified party be required to pay any
amount to an indemnifying party pursuant to this Section 5.03(f) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified
party would have been in if the indemnification payments or additional amounts giving rise to such refund had never been paid. This Section 5.03(f) shall not be construed to require any indemnified party to make available
its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

  
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 5.04 Mitigation Obligations. If the Borrower is required to pay any Indemnified Taxes or additional
amounts to any Recipient or to any Governmental Authority for the account of any Recipient pursuant to Section 5.01 or this Section 5.03, then such Recipient shall (at the request of the Borrower) use
commercially reasonable efforts to designate a different lending office, if in existence, for funding or booking its Loans hereunder or to assign and delegate its rights and obligations hereunder to another of its offices, branches or Affiliates if,
in the sole reasonable judgment of such Recipient, such designation or assignment and delegation would (i) eliminate or reduce amounts payable pursuant to Section 5.01 or this Section 5.03, as the
case may be, in the future, (ii) not subject such Recipient to any unreimbursed cost or expense and (iii) not otherwise be disadvantageous to such Recipient. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by
any Recipient in connection with any such designation or assignment and delegation. 
 5.05 Replacement of Lenders. If any Lender requests
compensation under Section 5.01, or if the Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of such Lender pursuant to
Section 5.03 and, in each case, such Lender has declined or is unable to designate a different lending office in accordance with Section 5.04, or if any Lender is a
Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Collateral Agent, require such Lender to assign and delegate, without recourse (in accordance
with and subject to the restrictions contained in, and consents required by, Section 14.04), all, but not less than all, of its interests, rights (other than its existing rights to payments pursuant to
Section 5.01 or Section 5.03) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations; provided that: 

(a) each Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued
fees (including Prepayment Premiums) and all other amounts payable to it hereunder and under the other Loan Documents, as if such purchase and assignment was an optional prepayment pursuant to Section 3.03(a) hereof, from
the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 

(b) in the case of any such assignment resulting from a claim for compensation under Section 5.01 or payments
required to be made pursuant to Section 5.03 such assignment will only be permitted hereunder if it results in a reduction in such compensation or payments thereafter; 

(c) such assignment does not conflict with applicable Law; and 

(d) in the case of any assignment resulting from a Lender becoming a Non-Consenting Lender, the
applicable assignee shall have consented to the applicable amendment, waiver or consent. 
 A Lender shall not be required to make any such assignment or
delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 

  
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 5.06 Survival. Each party’s obligations under this Section 5 shall
survive the assignment of rights by, or the replacement of, a Lender, and the repayment, satisfaction or discharge of all Obligations under any Loan Document. 

SECTION 6 
 CONDITIONS
PRECEDENT 
 6.01 Conditions to the Borrowing of the Initial Loan. The obligation of the Lender to make the Initial Loan shall be subject to the
execution and delivery of this Agreement by the parties hereto, the delivery of a Borrowing Notice as required pursuant to Section 2.02(a), and the prior or concurrent satisfaction of each of the conditions precedent set
forth below in this Article. 
 (a) Officer’s Certificate, Etc. The Lender shall have received from each Obligor
(i) a copy of a good standing certificate, dated a date reasonably close to the Closing Date, for each such Person and (ii) a certificate, dated as of the Closing Date, duly executed and delivered by such Person’s secretary, assistant
secretary or a Responsible Officer of such Person as to: 
 (i) resolutions of each such Person’s Board then in full force and effect
authorizing the execution, delivery and performance of each Loan Document to be executed by such Person and the Transactions; 
 (ii) the
incumbency and signatures of those of its officers, managing member or general partner, as applicable, authorized to act with respect to each Loan Document to be executed by such Person; and 

(iii) the full force and validity of each Organic Document of such Person and copies thereof; 

upon which certificates the Lender may conclusively rely until it shall have received a further certificate of the secretary, assistant secretary or
Responsible Officer of any such Person cancelling or amending the prior certificate of such Person. 
 (b) Closing Date Certificate.
The Lender shall have received a certificate, dated as of the Closing Date (the “Closing Date Certificate”), substantially in the form of Exhibit J, duly executed and delivered by a Responsible Officer of the Borrower,
in which certificate the Borrower shall agree and acknowledge, among other things, that the statements made therein shall be deemed to be true and correct representations and warranties of the Borrower as of such date, and, at the time such
certificate is delivered, such statements shall in fact be true and correct, and such statements shall include that (i) both immediately before and after giving effect to the Initial Loan, (x) the representations and warranties set forth
in each Loan Document shall, in each case, be true and correct in all material respects (except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect which such representation and warranty
shall, in each case, be true and correct in all respects) and (y) no Default shall have then occurred and be 

  
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continuing, or would result from the Initial Loan being advanced on the Closing Date and (ii) all of the conditions set forth in Section 6.01 have been satisfied.
All documents and agreements required to be appended to the Closing Date Certificate, if any, shall be in form and substance reasonably satisfactory to the Lender, shall have been executed and delivered by the requisite parties, and shall be in full
force and effect. 
 (c) Delivery of Note. The Lender shall have received a Note, dated as of the Closing Date, duly executed and
delivered by a Responsible Officer of the Borrower. 
 (d) Financial Information, Etc. The Lender shall have received unaudited
consolidated balance sheets of the Borrower and its Subsidiaries for the fiscal year ended December 31, 2016, and the related consolidated statements of income, shareholders’ equity and cash flows of the Borrower and its Subsidiaries for
such fiscal year, prepared in accordance with GAAP consistently applied, together with a certificate of the chief financial officer of the Borrower stating that such financial statements fairly present in all material respects the financial
condition of the Borrower and its Subsidiaries as at such date and the results of operations of the Borrower and its Subsidiaries for such fiscal year and have been prepared in accordance with GAAP consistently applied, subject to changes resulting
from normal, year-end audit adjustments and except for the absence of notes. 
 (e) Pro Forma
Balance Sheet. The Lender shall have received a pro forma consolidated balance sheet of the Borrower and its Subsidiaries as of the Closing Date, prepared in accordance with GAAP applied consistently with the Borrower’s previous audited
financial statements, giving effect to the borrowing of the Initial Loan and the application of the proceeds thereof. 
 (f) Solvency
Certificate. The Lender shall have received a Solvency Certificate, substantially in the form of Exhibit K, duly executed and delivered by the chief financial or accounting Responsible Officer of the Borrower, dated as of the Closing
Date. 
 (g) Security Documents. The Lender shall have received executed counterparts of each Security Document (other than the
Landlord Consent and the Account Control Agreement with respect to the investment accounts of the Borrower) and each other applicable Loan Document, dated as of the date hereof, duly executed and delivered by each Obligor, together with: 

(i) delivery of all certificates (in the case of Equity Interests that are securities (as defined in the NYUCC)) evidencing the issued and
outstanding Equity Interests owned by each Obligor that are required to be pledged under the Security Agreement, which certificates in each case shall be accompanied by undated instruments of transfer duly executed in blank, or, in the case of
Equity Interests that are uncertificated securities (as defined in the NYUCC), confirmation and evidence reasonably satisfactory to the Lender that the security interest required to be pledged therein under the Security Agreement has been
transferred to and perfected by the Secured Parties in accordance with Articles 8 and 9 of the NYUCC and all Laws otherwise applicable to the perfection of the pledge of such Equity Interests; 

  
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 (ii) financing statements suitable in form for naming each Obligor as a debtor and the
Collateral Agent as the secured party, or other similar instruments or documents to be filed under the UCC of all jurisdictions as may be necessary or, in the opinion of the Collateral Agent, desirable to perfect the security interests of the
Secured Parties pursuant to the Security Agreement; 
 (iii) UCC-3 termination statements, if any,
necessary to release all Liens and other rights of any Person in any collateral described in the Security Agreement previously granted by any Person; 

(iv) evidence that all deposit accounts, lockboxes, disbursement accounts, investment accounts or other similar accounts of each Obligor (other
than Excluded Deposit Accounts and the investment accounts of the Borrower) are Controlled Accounts; and 
 (v) evidence that all such
Controlled Accounts are subject to one or more Account Control Agreements. 
 (h) Perfection Certificate. The Lender shall have
received a Perfection Certificate, dated as of the Closing Date, duly executed and delivered by a Responsible Officer of the Borrower. 
 (i)
Lien Searches. The Lender shall be satisfied with Lien searches regarding the Borrower and its Subsidiaries made within two Business Days prior to the Borrowing of the Initial Loan. 

(j) Closing Date Warrant. The Lender shall have received an executed counterpart of (i) a Warrant Certificate and Agreement, dated
as of the Closing Date, duly executed, delivered and validly issued by the Borrower, and (ii) the Closing Date Warrant. 
 (k)
Insurance. The Lender shall have received certificates of insurance reflecting the insurance policies, evidencing coverage required to be maintained pursuant to each Loan Document. All such insurance policies required pursuant to this
Section 6.01(k) shall (i) name the Collateral Agent as mortgagee (in the case of property insurance) or loss payee or additional insured (in the case of liability insurance), as applicable, and provide that no
cancellation or modification of the policies will be made without the prior written consent of the Collateral Agent and (ii) be in addition to any requirements to maintain specific types of insurance contained in the other Loan Documents. 

(l) Opinions of Counsel. The Lender shall have received one or more customary opinions (including from such local counsel as the Lender
may determine, in its sole discretion, is reasonably necessary), each dated the Closing Date and addressed to the Lender, from independent legal counsel to the Borrower and the other Obligors, in form and substance reasonably acceptable to the
Lender. 
 (m) Anti-Terrorism Laws. The Lender shall have received, as applicable, all documentation and other information required by
bank regulatory authorities requested by the Lender at least five (5) Business Days prior to the Closing Date with respect to applicable “know your customer” and anti-money laundering rules and regulations, including the U.S.A.
Patriot Act. 

  
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 (n) Material Adverse Change. No Material Adverse Change shall have occurred since
December 31, 2016. 
 (o) Satisfactory Legal Form. All documents executed or submitted pursuant hereto by or on behalf of each
Obligor or any of its respective Subsidiaries shall be satisfactory in form and substance to the Lender and its counsel, and the Lender and its counsel shall have received all information, approvals, resolutions, opinions, documents or instruments
as the Lender or its counsel may reasonably request. 
 (p) Closing Fees, Expenses, Etc. (i) The Lender shall have received a
$150,000 closing fee which shall be paid by way of the Lender retaining such amount from the proceeds of the Initial Loan, and (ii) each of the Collateral Agent and the Lender shall have received all fees, costs and expenses due and payable
pursuant to Section 14.03, including all reasonable closing costs and fees and all unpaid reasonable expenses of the Lender incurred in connection with the Transactions (including the Lender’s legal fees and expenses).

 (q) Payoff Letters. The Lender shall have received one or more executed payoff letters terminating the Loan and Security Agreement
dated as of December 31, 2013 (as amended, restated or otherwise modified from time to time) among Oxford Finance LLC, as collateral agent for the lenders party thereto, the lenders party thereto and the Borrower, in form and substance
reasonably acceptable to it. 
 6.02 Conditions to the Borrowing of the Delayed Draw Loan. The obligation of the Lender to make the Delayed Draw Loan
shall be subject to the prior making of the Initial Loan, the delivery of a Borrowing Notice for such Delayed Draw Loan as required pursuant to Section 2.02(a), and the satisfaction of each of the conditions precedent set
forth below in this Section 6.02. 
 (a) Delayed Draw Date. The Delayed Draw Date shall have occurred on or
before December 22, 2017. 
 (b) Delayed Draw Certificate. The Lender shall have received a certificate, dated as of the Delayed
Draw Date and in form reasonably satisfactory to the Lender (the “Delayed Draw Certificate”), duly executed and delivered by a Responsible Officer of the Borrower, in which certificate the Borrower shall agree and
acknowledge, among other things, that the statements made therein shall be deemed to be true and correct representations and warranties of the Borrower as of such date, and, at the time such certificate is delivered, such statements shall in fact be
true and correct, and such statements shall include that (i) both immediately before and after giving effect to the Delayed Draw Loan (x) the representations and warranties set forth in this Agreement and each other Loan Document shall, in
each case, be true and correct in all material respects (except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect which such representation and warranty shall, in each case, be true and
correct in all respects) and (y) no Default shall have then occurred and be continuing, or would result from the Delayed Draw Loan to be advanced on the Delayed Draw Date, and (ii) all of the conditions set forth in
Section 6.02 have been satisfied; provided that, with respect to the certification referenced in clause (x) above relating to representations and warranties set forth in this Agreement

  
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or any other Loan Document, (1) references in such representations and warranties to “the Closing Date” or “the date hereof” shall be deemed to be references to “the
Delayed Draw Date”, and (2) the Borrower may supplement the Schedules hereto and the other Loan Documents as reasonably necessary in order for such certification to be true and correct; provided that no such supplement shall be
permitted in the event that the Lender reasonably determines that the circumstance or event necessitating such supplement constituted a Material Adverse Effect or (with respect to any supplement that does not reflect a transaction permitted pursuant
to this Credit Agreement) was otherwise materially adverse to the interests of the Lender under the Loan Documents. All documents and agreements required to be appended to the Delayed Draw Certificate, if any, shall be in form and substance
reasonably satisfactory to the Lender, shall have been executed and delivered by the requisite parties, and shall be in full force and effect. 

(c) Delivery of Note. The Lender shall have received a Note, dated as of the Delayed Draw Date, duly executed and delivered by a
Responsible Officer of the Borrower. 
 (d) Pro Forma Balance Sheet. The Lender shall have received a pro forma consolidated balance
sheet of the Borrower and its Subsidiaries as of the Delayed Draw Date, prepared in accordance with GAAP applied consistently with the Borrower’s previous audited financial statements, giving effect to the borrowing of the Delayed Draw Loan and
the application of the proceeds thereof. 
 (e) Delayed Draw Date Warrant. The Lender shall have received an executed counterpart of
(i) a Warrant Certificate and Agreement, dated as of the Delayed Draw Date, duly executed, delivered and validly issued by the Borrower, and (ii) the Delayed Draw Date Warrant. 

(f) Perfection Certificate. The Lender shall have received (i) an updated Perfection Certificate, dated as of the Delayed Draw
Date, that is true and correct as of the Delayed Draw Date, duly executed and delivered by a Responsible Officer of the Borrower, or (ii) a certificate duly executed and delivered by a Responsible Officer of the Borrower certifying that the
information disclosed in the Perfection Certificate delivered pursuant to Section 6.01(h) remains true, correct and complete in all material respects (except for any representation and warranty that is qualified by
materiality or reference to Material Adverse Effect which such representation and warranty shall, in each case, be true and correct in all respects) as of the Delayed Draw Date; provided that each reference therein to the Closing Date shall
be deemed to refer to the Delayed Draw Date and each reference to the Initial Loan shall be deemed to refer to the Delayed Draw Loan. 
 (g)
Lien Searches. The Lender shall be satisfied with Lien searches regarding the Borrower and its Subsidiaries made within two Business Days prior to the Borrowing of the Delayed Draw Loan. 

(h) Material Adverse Change. No Material Adverse Change shall have occurred since December 31, 2016. 

(i) Satisfactory Legal Form. All documents executed or submitted pursuant hereto by or on behalf of the Borrower or any of its
Subsidiaries shall be reasonably satisfactory in form and substance to the Lender and its counsel, and the Lender and its counsel shall have received all information, approvals, resolutions, opinions, documents or instruments as the Lender or its
counsel may reasonably request. 

  
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 (j) Fees, Expenses, Etc. (i) The Lender shall have received a $150,000 delayed
draw fee, and (ii) each of the Collateral Agent and the Lender shall have received all fees, costs and expenses due and payable pursuant to Section 14.03 (including the Lender’s legal fees and expenses). 

SECTION 7 

REPRESENTATIONS AND WARRANTIES 

The Borrower represents and warrants to the Lender that: 

7.01 Power and Authority. Each of the Borrower and its Subsidiaries (i) is duly organized and validly existing under the Laws of its jurisdiction
of organization, (ii) has all requisite corporate or other power, and has all Governmental Approvals necessary to own its assets and carry on its business as now being or as proposed to be conducted, except to the extent that failure to have
the same could not reasonably be expected to have a Material Adverse Effect, (iii) is qualified to do business and is in good standing in all jurisdictions in which the nature of the business conducted by it makes such qualification necessary
and where failure so to qualify (either individually or in the aggregate) could reasonably be expected to have a Material Adverse Effect, and (iv) has full power, authority and legal right to enter into and perform its obligations under each of
the Loan Documents to which it is a party and, in the case of the Borrower, to borrow the Loans hereunder. 
 7.02 Authorization; Enforceability. The
Transactions are within each Obligor’s corporate or other powers and have been duly authorized by all necessary corporate or other action and, if required, by all necessary shareholder action. Each Loan Document to which such Obligor is a party
has been duly executed and delivered by each Obligor and constitutes, and each of the other Loan Documents to which such Obligor is a party when executed and delivered after the date hereof by such Obligor will constitute, a legal, valid and binding
obligation of such Obligor, enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or similar Laws of general applicability affecting
the enforcement of creditors’ rights and (ii) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

7.03 Governmental and Other Approvals; No Conflicts. The Transactions (i) do not require any Governmental Approval of, registration or filing with,
or any other action by, any Governmental Authority or any third party, except for (x) such as have been obtained or made and are in full force and effect and (y) filings and recordings in respect of the Liens created pursuant to the
Security Documents, (ii) will not violate any Law or the Organic Documents of any Obligor or any of its Subsidiaries or any order of any Governmental Authority, other than any such violations that, individually or in the aggregate, could not
reasonably be expected to have a Material Adverse Effect, (iii) will not violate or result in a default under any 

  
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indenture, agreement or other instrument in respect of Indebtedness for borrowed money or equivalent binding upon any Obligor or any of its Subsidiaries or assets, or give rise to a right
thereunder to require any payment to be made by any such Person except as could not reasonably expected to result in an Event of Default, and (iv) will not result in the creation or imposition of any Lien (other than Permitted Liens) on any
asset of any Obligor or any of its Subsidiaries. 
 7.04 Financial Statements; Material Adverse Change. 

(a) Financial Statements. The Borrower has heretofore furnished to the Lender certain consolidated financial statements as provided for
in Section 8.01. Such financial statements, and all other financial statements delivered by the Borrower to the Lender (whether prior to the Closing Date or otherwise) present fairly, in all material respects, the
consolidated financial position and results of operations and cash flows of the Borrower and its Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit
adjustments and the absence of footnotes in the case of the statements of the type described in Section 8.01(c). Neither the Borrower nor any of its Subsidiaries has any material contingent liabilities or unusual forward or
long-term commitments not disclosed in the aforementioned financial statements. 
 (b) No Material Adverse Change. Since
December 31, 2016, there has been no Material Adverse Change. 
 7.05 Properties. 

(a) Property Generally. Each Obligor and each of its Subsidiaries has good and marketable fee simple title to, or valid leasehold
interests in, all its real and personal property material to its business, subject only to Permitted Liens and except for minor defects in title that (i) do not interfere with its ability to conduct its business as currently conducted or to
utilize such properties for their intended purposes and (ii) could not reasonably be expected to prevent or interfere with the ability of any Obligor or any of its Subsidiaries to conduct any Product Development and Commercialization Activities
with respect to any of its Products. 
 (b) Intellectual Property. 

(i) Schedule 7.05(b) contains, with respect to Obligor and each of its Subsidiaries: 

(A) a complete and accurate list of all applied for or registered or issued Patents, including the jurisdiction and patent number; 

(B) a complete and accurate list of all applied for or registered Trademarks, including the jurisdiction, trademark application or
registration number and the application or registration date; and 
 (C) a complete and accurate list of all applied for or registered
Copyrights. 

  
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 (ii) Each Obligor is the absolute beneficial owner of all right, title and interest in and
to the Material Intellectual Property that it owns, with no breaks in chain of title with good and marketable title, free and clear of any Liens or Claims of any kind whatsoever other than Permitted Liens, and each Obligor has the right to use all
Material Intellectual Property. Without limiting the foregoing, and except as set forth in Schedule 7.05(b): 
 (A) other than with
respect to the Material Agreements, or as permitted by Section 9.09, no Obligor nor any of its Subsidiaries has transferred ownership of Material Intellectual Property, in whole or in part, to any Person who is not an
Obligor; 
 (B) other than (i) the Material Agreements, (ii) customary restrictions in
in-bound licenses of Intellectual Property and non-disclosure agreements, or (iii) as would have been or is permitted by Section 9.09,
there are no judgments, covenants not to sue, permits, grants, licenses, Liens (other than Permitted Liens), Claims, or other Contracts relating to any Material Intellectual Property, including any development, submission, services, research,
license or support agreements, which bind, obligate or otherwise restrict in any material manner any Obligor or any of its Subsidiaries with respect to any such Material Intellectual Property; 

(C) neither the use by any Obligor or any of its Subsidiaries of any of such Person’s Material Intellectual Property, nor the operations
by any such Person of its business, violates, infringes or interferes with or constitutes a misappropriation of any valid rights arising under any Intellectual Property of any other Person; 

(D) there are no pending or, to the Borrower’s best knowledge, threatened Claims against any Obligor or any of its Subsidiaries asserted
by any other Person relating to such Obligor’s or such Subsidiary’s Material Intellectual Property, including any Claims of adverse ownership, invalidity, infringement, misappropriation, violation or other opposition to or conflict with
such Material Intellectual Property; no Obligor nor any Subsidiary of such Obligor has received any written notice from any Person that such Obligor’s or such Subsidiary’s business, the use of such Obligor’s or such Subsidiary’s
Material Intellectual Property, or the manufacture, use or sale of any Product or the performance of any service by any such Person infringes upon, violates or constitutes a misappropriation of, or may infringe upon, violate or constitute a
misappropriation of, or otherwise interfere with, any other Intellectual Property of any other Person; 
 (E) except as set forth on
Schedule 7.06(a), no Material Intellectual Property is being infringed, violated, misappropriated or otherwise used by any other Person without the express authorization of the Borrower, and without limiting the foregoing, except as set forth
in Schedule 7.06(a), no Obligor nor any of its Subsidiaries has put any other Person on notice of actual or potential infringement, violation or misappropriation of any of the Material Intellectual Property; no Obligor nor any of its
Subsidiaries has initiated the enforcement of any Claim with respect to any of the Material Intellectual Property; 
 (F) to the best of the
Borrower’s knowledge, all relevant current and former employees and contractors of and Obligor and each of its Subsidiaries have executed written confidentiality and invention assignment Contracts with the Borrower that irrevocably assign to
the Borrower or its designee all of their rights to any Inventions relating to the Borrower’s business; 

  
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 (G) the Obligor Intellectual Property is all the Intellectual Property necessary for the
operation of the Borrower’s consolidated business as it is currently conducted or as currently contemplated to be conducted; 
 (H)
each Obligor and each of its Subsidiaries has taken reasonable precautions to protect the secrecy, confidentiality and value of its Material Intellectual Property consisting of trade secrets and confidential information; 

(I) each Obligor and each of its Subsidiaries has delivered to the Lender accurate and complete copies of all Material Agreements relating to
the Material Intellectual Property; and 
 (J) there are no pending or, to the best of the Borrower’s knowledge, threatened Claims
against the Obligors or any of their Subsidiaries asserted by any other Person relating to the Material Agreements, including any Claims of breach or default under such Material Agreements. 

(iii) With respect to the Material Intellectual Property consisting of Patents, except as set forth in Schedule 7.05(b), and without
limiting the representations and warranties in Section 7.05(b)(ii): 
 (A) each of the issued claims in such
Patents is valid and enforceable; 
 (B) the named inventors claimed in such Patents have executed written Contracts with the Borrower or
its predecessor-in-interest that properly and irrevocably assign to the Borrower or such
predecessor-in-interest all of their rights, title and interest to any of the Inventions claimed in such Patents to the extent permitted by Laws; 

(C) none of the Patents, or the Inventions claimed in them, have been dedicated to the public except as a result of intentional decisions made
by the Borrower or its predecessor-in-interest; 
 (D) all
prior art material to the Patents listed on Schedule 7.05(b) was adequately disclosed to or considered by the respective patent offices during prosecution of such Patents to the extent required by Laws; 

(E) subsequent to the issuance of such Patents, neither any Obligor nor any of its Subsidiaries, nor any of their respective predecessors in
interest, have filed any disclaimer or filed any other voluntary reduction in the scope of the Inventions claimed in such Patents; 
 (F)
except as expressly indicated on Schedule 7.05(b), no allowable or allowed subject matter of such Patents is subject to any competing conception claims of allowable or allowed subject matter of any patent applications or patents of any third
party and have not been the subject of any interference, re-examination, opposition or any other post-grant proceedings, nor is there basis for any such interference,
re-examination, opposition or any other post-grant proceedings; 

  
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 (G) no such Patents have ever been finally adjudicated to be invalid, unpatentable or
unenforceable for any reason in any administrative, arbitration, judicial or other proceeding, and, with the exception of publicly available documents in the applicable patent office recorded with respect to any Patents, no Obligor nor any of its
Subsidiaries has received any notice asserting that such Patents are invalid, unpatentable or unenforceable; if any of such Patents is terminally disclaimed to another patent or patent application, all patents and patent applications subject to such
terminal disclaimer are included in the Collateral; 
 (H) no Obligor nor any of its Subsidiaries has received an opinion, whether
preliminary in nature or qualified in any manner, which concludes that a challenge to the validity or enforceability of any of such Patents is more likely than not to succeed; 

(I) no Obligor nor any of its Subsidiaries has any knowledge that it or any prior owner of such Patents or their respective agents or
representatives have engaged in any conduct, or omitted to perform any necessary act, the result of which would invalidate or render unpatentable or unenforceable any such Patents; and 

(J) except as expressly indicated on Schedule 7.05(b), all maintenance fees, annuities, and the like due or payable on the Patents have
been timely paid or the failure to so pay was the result of an intentional decision by the applicable Obligor or its Subsidiary or would not reasonably be expected to result in a Material Adverse Change. 

(c) Material Intellectual Property. Schedule 7.05(c) sets forth an accurate list of the Obligor Intellectual Property that is
material to the Borrower’s current consolidated business with an indication as to whether the applicable Obligor owns or has an exclusive or non-exclusive license to such Obligor Intellectual Property.

 7.06 No Actions or Proceedings. 
 (a)
Litigation. There is no litigation, investigation or proceeding pending or, to the best knowledge of the Borrower, threatened with respect to the Borrower of any of its Subsidiaries by or before any Governmental Authority or arbitrator
(i) that either individually or in the aggregate could reasonably be expected to have a Material Adverse Effect, except as specified in Schedule 7.06(a) or (ii) that involves this Agreement or the Transactions.

 (b) Environmental Matters. The operations and property of the Borrower and its Subsidiaries comply with all applicable
Environmental Laws, except to the extent the failure to so comply (either individually or in the aggregate) could not reasonably be expected to have a Material Adverse Effect. 

  
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 (c) Labor Matters. There are no strikes, lockouts or other material labor disputes
against the Borrower or any of its Subsidiaries or, to the best knowledge of the Borrower, threatened against or affecting the Borrower or any such Subsidiary, and no material unfair labor practice complaint is pending against the Borrower or any
such Subsidiary or, to the best knowledge of the Borrower, threated against any of them before any Governmental Authority. Except as set forth on Schedule 7.06(c), neither the Borrower nor any of its Subsidiaries is a party to any collective
bargaining agreements or Contracts, no union representation exists on any facilities of the Borrower or any of its Subsidiaries and, to the best knowledge of the Borrower, no union organizing activities are taking place in respect thereof. 

7.07 Compliance with Laws and Agreements. 

(a) Each of the Obligors and its Subsidiaries is in compliance in all material respects with all Laws and all Material Agreements binding upon
it or its property; provided that, for purposes of this Section 7.07, the term “property” shall not include any Obligor Intellectual Property, which is covered by Section 7.05.

 (b) Any physician, other licensed healthcare professional, or any other Person who is in a position to refer patients or other business to
any Obligor or any of its Subsidiaries (collectively, a “Referral Source”) who has a direct ownership, investment, or financial interest in such Obligor or such Subsidiary paid fair market value for such ownership, investment
or financial interest; any ownership or investment returns distributed to any Referral Source is in proportion to such Referral Source’s ownership, investment or financial interest; and no preferential treatment or more favorable terms were or
are offered to such Referral Source compared to investors or owners who are not in a position to refer patients or other business. No Obligor, nor any of its respective Subsidiaries, directly or indirectly, has Guaranteed any Indebtedness, made a
payment toward any Indebtedness or otherwise subsidized any Indebtedness for any Referral Source including, without limitation, any Indebtedness related to financing the Referral Source’s ownership, investment or financial interest in such
Obligor or such Subsidiary. 
 (c) Without limiting the generality of the foregoing, except where noncompliance individually or in the
aggregate would not reasonably be expected to result in a Material Adverse Effect: 
 (i) all financial relationships between
or among any Obligor or any of its Subsidiaries, on the one hand, and any Referral Source, on the other hand (i) comply with all applicable Healthcare Laws including, without limitation, the Federal Anti-Kickback Statute, the Stark Law and
applicable state antikickback and self-referral laws; (ii) reflect fair market value, have commercially reasonable terms and were negotiated at arm’s length; and (iii) do not obligate the Referral Source to purchase, use, recommend or
arrange for the use of any products or services of any Obligor or any of its respective Subsidiaries; and 
 (ii) each
Obligor and each of its Subsidiaries has implemented policies and procedures to monitor, collect, and report, any payments or transfers of value to certain healthcare providers and teaching hospitals, in accordance with industry standards and the
Affordable Care Act of 2010 and its implementing regulations and any applicable state disclosure and transparency laws. 

  
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 (d) The Obligors and their Subsidiaries are in compliance in all material respects with 21
CFR §§210-211 and 21 CFR §§600-610. 
 7.08 Taxes.
Except as set forth on Schedule 7.08, the Borrower and each of its Subsidiaries has timely filed or caused to be filed all material Tax returns and reports required to have been filed and has paid or caused to be paid all material Taxes
required to have been paid by it, except such Taxes that are being contested in good faith by appropriate proceedings and for which the Borrower has set aside on its books adequate reserves with respect thereto in accordance with GAAP. 

7.09 Full Disclosure. To the best knowledge of the Borrower, none of the representations or warranties made by any Obligor in any of the Loan Documents
to which it is a party, as of the date such representations and warranties are made or deemed made, and none of the statements contained in any exhibit, report, statement or certificate furnished by or on behalf of any Obligor in connection with the
Loan Documents, contains any untrue statement of a material fact or omits any material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances under which they are made, misleading as of the
time when made or delivered. 
 7.10 Regulation. 

(a) Investment Company Act. Neither the Borrower nor any of its Subsidiaries is an “investment company” as defined in, or
subject to regulation under, the Investment Company Act of 1940. 
 (b) Margin Stock. Neither the Borrower nor any of its Subsidiaries
is engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of the Loans will be used
to buy or carry any Margin Stock in violation of Regulation T, U or X. 
 7.11 Solvency. The Borrower is (and, immediately after giving effect to any
Borrowing and the use of proceeds thereof, will be) Solvent. The Obligors, taken as a whole, are (and, immediately after giving effect to the Borrowing and the use of proceeds thereof, will be) Solvent. 

7.12 Equity Holders; Subsidiaries and Investments. 

(a) The capitalization table of the Borrower provided to the Lender prior to the Closing Date contains a complete and correct list of all
holders of Equity Interests of the Borrower, setting forth the name of such Holder, the series of class of Equity Interest of the Borrower held by such Holder, and the fully-diluted percentage ownership of the Borrower held beneficially by such
Holder. 

  
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 (b) Set forth on Schedule 7.12(b) is a complete and correct list of all direct and
indirect Subsidiaries of the Borrower. Each such Subsidiary is duly organized and validly existing under the jurisdiction of its organization shown in said Schedule 7.12(b), and the percentage ownership by the Borrower (or any of its
Subsidiaries) of each such Subsidiary is as shown in said Schedule 7.12(c). 
 (c) Set forth on Schedule 7.12(c) is a complete
and correct list of all other Equity Interests held by each Obligor in any Person that is not a direct or indirect Subsidiary of the Borrower. Such Schedule 7.12(c) also sets forth, in reasonable detail, the type of Equity Interest held by
each such Obligor in such Person and the fully-diluted percentage ownership held beneficially by such Obligor in such Person. 
 7.13 Indebtedness.
The pro forma balance sheets delivered pursuant to Section 6.01(e) and, if the Delayed Draw Loan is made, 6.02(d), each set forth a complete and correct list of all outstanding Indebtedness of the
Borrower and each of its Subsidiaries outstanding as of the date of such balance sheet. 
 7.14 Material Agreements. Set forth on Schedule 7.14
is a complete and correct list of (i) each Material Agreement and (ii) each Contract creating or evidencing any Material Indebtedness. Neither the Borrower nor any of its Subsidiaries is in material default under any such Material
Agreement or Contract creating or evidencing any Material Indebtedness. Except as otherwise disclosed on Schedule 7.14, all material vendor purchase Contracts and provider Contracts of the Borrower and each of its Subsidiaries are in full
force and effect without material modification from the form in which the same were disclosed to the Lender. 
 7.15 Restrictive Agreements. Neither
the Borrower nor any of its Subsidiaries is subject to any Restrictive Agreement, except those listed on Schedule 7.15 or otherwise permitted under Section 9.11. 

7.16 Real Property. Neither the Borrower nor any of its Subsidiaries owns or leases (as tenant thereof) any real property, except as described on
Schedule 7.16. 
 7.17 Pension Matters. Each Benefit Plan, and each trust thereunder, intended to qualify for tax exempt status under
Section 401 or 501 of the Code or other Laws so qualifies. Each Benefit Plan is in material compliance with applicable provisions of ERISA, the Code and other Laws; there are no existing or pending (or, to the best knowledge of the Borrower,
threatened) Claims (other than routine Claims for benefits in the normal course), sanctions, actions, lawsuits or other proceedings or 

  
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investigations involving any Benefit Plan to which any Obligor or Subsidiary thereof incurs or otherwise has or could have an obligation or any liability or Claim which would result in a material
liability. The Borrower and each of its ERISA Affiliates has met all applicable requirements under the ERISA Funding Rules with respect to each Title IV Plan, and no waiver of the minimum funding standards under the ERISA Funding Rules has been
applied for or obtained. As of the most recent valuation date for any Title IV Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is at least 60%, and neither the Borrower nor any of its ERISA
Affiliates knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage to fall below 60% as of the most recent valuation date. As of the date hereof, no ERISA Event has occurred in
connection with which material obligations and liabilities (contingent or otherwise) remain outstanding and, to the best knowledge of the Borrower, no ERISA Event could reasonably be expected to occur that would result in a material liability. No
ERISA Affiliate would have any material Withdrawal Liability as a result of a complete withdrawal from any Multiemployer Plan on the date this representation is made. 

7.18 Collateral; Security Interest. Each Security Document is effective to create in favor of the Secured Parties legal, valid and enforceable security
interests in the Collateral subject thereto to the extent required by the applicable Security Document, which security interests are, to the extent required by the Security Documents, perfected and first-priority (subject only to Permitted Priority
Liens). 
 7.19 Regulatory Approvals. 

(a) Each Obligor and each of its Subsidiaries holds, either directly or through licensees and agents, all Regulatory Approvals and Product
Authorizations necessary or required for such Obligor and its Subsidiaries to conduct its operations and businesses in the manner currently conducted, including all Product Development and Commercialization Activities related thereto. 

(b) Set forth on Schedule 7.19(b) is a complete and accurate list as of the date hereof of all material Regulatory Approvals relating to
each Obligor and each of its Subsidiaries, the conduct of their business (including all Product Development and Commercialization Activities) and each of their Products (on a per Product basis). All such material Regulatory Approvals are
(i) legally and beneficially owned or held exclusively by such Obligors or such Subsidiary, as the case may be, free and clear of all Liens other than Permitted Liens, (ii) validly registered and on file with the applicable Governmental
Authority, in material compliance with all registration, filing and maintenance requirements (including any fee requirements) thereof, and (iii) in good standing, valid and enforceable with the applicable Governmental Authority in all material
respects. 
 (c) (i) All material regulatory filings, notices, registrations, listings, reports and similar items required to be filed
or made by any Regulatory Authority or in respect of any Regulatory Approval or Product Authorization with respect to any Product or any Product Development and Commercialization Activities have been made, and all such filings are complete and
correct in all material respects and have complied in all material respects with all Laws, (ii) all clinical and pre-clinical trials, if any, of investigational Products have been and are being conducted
by each Obligor according to all Laws in all material respects along with appropriate monitoring of clinical investigator trial sites for their compliance, and (iii) each Obligor has disclosed to the Lender all such material regulatory filings
and all material communications between representatives of each Obligor and any Regulatory Authority. 

  
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 (d) Each Obligor and, to the best knowledge of the Borrower, each agent of any Obligor are
in compliance in all material respects with all applicable Laws (including all Regulatory Approvals and Product Authorizations) with respect to each Product and all Product Development and Commercialization Activities related thereto. 

(e) Except as set forth on Schedule 7.19(e), and without limiting the generality of any other representation or warranty made by any
Obligor hereunder or under any other Loan Document: (i) all Products and all Product Development and Commercialization Activities comply in all material respects with (A) all applicable Laws of the FDA and each other applicable Regulatory
Authority, whether U.S. or non-U.S., and (B) all Product Authorizations and other Regulatory Authorizations; (ii) no Obligor, nor any of its Subsidiaries nor, to the best knowledge of the Borrower,
any of their respective agents, suppliers, licensors or licensees have received any inspection reports, warning letters or notices or similar documents with respect to any Product or any Product Development and Commercialization Activities from any
Regulatory Authority within the last three (3) years that assert lack of compliance with any applicable Laws or Regulatory Approvals or other orders, injunctions or decrees; (iii) no Obligor, nor any of its Subsidiaries nor, to the best
knowledge of the Borrower, any of their respective agents, suppliers, licensors or licensees have received any notification from any Regulatory Authority within the last three (3) years, asserting that any Product or any Product Development and
Commercialization Activities lacks a required Regulatory Approval or Product Authorization; (iv) there is no pending regulatory action, investigation or inquiry (other than non-material routine or
periodic inspections or reviews) against any Obligor, any of its Subsidiaries or, to the best knowledge of the Borrower, any of their respective suppliers, licensors or licensees with respect to any Product, and, to the best knowledge of any
Obligor, there is no reasonable basis for any adverse regulatory action against such Obligor or any of its Subsidiaries or, to the best knowledge of the Borrower, any of their respective suppliers agents, licensors or licensees with respect to any
Product; and (v) without limiting the foregoing, (A) (1) there have been no product recalls, safety alerts, corrections, withdrawals, marketing suspensions, removals or similar action conducted, undertaken or issued by any Obligor or any
of its Subsidiaries, whether voluntary, at the request, demand or order of any Regulatory Authority or otherwise, with respect to any Product or any Product Development and Commercialization Activities within the last three (3) years,
(2) no such product recall, safety alert, correction, withdrawal, marketing suspension, removal or similar action has been requested, demanded or ordered by any Regulatory Authority within the last three (3) years, and, to the best
knowledge of the Borrower, there is no reasonable basis for the issuance of any such product recall, safety alert, correction, withdrawal, marketing suspension, removal or similar action with respect to any Product, and (B) no criminal,
injunctive, seizure, detention or civil penalty action has been commenced or threatened in writing by any Regulatory Authority within the last three (3) years with respect to or in connection with any Product or any Product Development and
Commercialization Activities, there are no consent decrees (including plea agreements) that relate to any Product or any Product Development and Commercialization Activities, and, to the best knowledge of the Borrower, there is no reasonable basis
for the commencement of any criminal injunctive, seizure, detention or civil penalty action by any Regulatory Authority relating to any 

  
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Product or any Product Development and Commercialization Activities or for the issuance of any consent decree. No Obligor nor any of its Subsidiaries nor, to the best knowledge of the Borrower,
any of their respective agents, suppliers, licensees or licensors is employing or utilizing the services of any individual who has been debarred or temporarily suspended under any applicable Law. 

(f) Neither any Obligor nor, to the best knowledge of the Borrower, any officer, employee or agent thereof, has made an untrue statement of a
material fact or fraudulent statements to the FDA or any other Regulatory Authority, failed to disclose a material fact required to be disclosed to the FDA or any other Regulatory Authority, or committed an act, made a statement, or failed to make a
statement that, at the time such disclosure was made (or was not made), could reasonably be expected to provide a basis for the FDA or any such other Regulatory Authority to invoke its policy respecting Fraud, Untrue Statements of Material Facts,
Bribery and Illegal Gratuities, set forth in 56 Fed. Reg. 46191 (September 10, 1991) or any similar policy. 
 (g) The clinical, preclinical,
safety and other studies and tests conducted by or on behalf of or sponsored by each Obligor or any of its Subsidiaries, or in respect of which any Products or Product candidates under development have participated, were (and if still pending, are)
being conducted materially in accordance with standard medical and scientific research procedures and all applicable Regulatory Approvals and Product Authorizations. No Obligor nor any of its Subsidiaries has received any notices or other
correspondence from the FDA or any such other Regulatory Authority requiring the termination or suspension of any clinical, preclinical, safety or other studies or tests used to support regulatory clearance of, or any Product Authorization or
Regulatory Approval for, any Product or any Product Development and Commercialization Activities. 
 7.20 Transactions with Affiliates. Except as set
forth on Schedule 7.20, neither the Borrower nor any of its Subsidiaries has entered into, renewed, extended or been a part to, any transaction (including the purchase, sale, lease, transfer or exchange of property or assets of any kind or
the rendering of services of any kind) with any Affiliate during the three-year period prior to the Closing Date. 
 7.21 OFAC. No Obligor, nor any of
its Subsidiaries, nor, to the best knowledge of the Borrower, any of their respective directors, officers or employees nor, to the best knowledge of the Borrower, any agents or other persons acting on behalf of any of the foregoing (i) is
currently the target of any Sanctions, (ii) is located, organized or residing in any Designated Jurisdiction, (iii) is or has been (within the previous five years) engaged in any transaction with, or for the benefit of, any Person who is
now or was then the target of Sanctions or who is located, organized or residing in any Designated Jurisdiction or (iv) is or has ever been in violation of or subject to an investigation relating to Sanctions. No Loan, nor the proceeds from any
Loan, has been or will be used, directly or indirectly, to lend, contribute or provide to, or has been or will be otherwise made available to fund, any activity or business in any Designated Jurisdiction or to fund any activity or business of any
Person located, organized or residing in any Designated Jurisdiction or who is the subject of any Sanctions, or in any other manner that will result in any violation by any Person (including the Lender and its Affiliates) of Sanctions. 

  
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 7.22 Anti-Corruption. No Obligor, nor any of its Subsidiaries, nor, to the best knowledge of the
Borrower, any of their respective directors, officers, or employees nor, to the best knowledge of the Borrower, any agents or other persons acting on behalf of any of the foregoing, directly or indirectly, has (i) violated or is in violation of
any applicable anti-corruption Law, (ii) made, offered to make, promised to make or authorized the payment or giving of, directly or indirectly, any Prohibited Payment or (iii) been subject to any investigation by any Governmental
Authority with regard to any actual or alleged Prohibited Payment. 
 7.23 Deposit and Disbursement Accounts. Schedule 7.23 contains a list of
all banks and other financial institutions at which any Obligor or any of its Subsidiaries maintains deposit accounts, lockboxes, disbursement accounts, investment accounts or other similar accounts, and such Schedule correctly identifies the name,
address and telephone number of each bank or financial institution, the name in which the account is held, the type of account, and the complete account number therefor. 

7.24 Royalty and Other Payments. Except as set forth on Schedule 7.24, no Obligor nor any of its Subsidiaries is obligated to pay any royalty,
milestone payment, deferred payment or any other contingent payment in respect of any Product. 
 SECTION 8 

AFFIRMATIVE COVENANTS 

Each Obligor jointly and severally covenants and agrees with the Lender that, until the Commitments have expired or been terminated and all
Obligations (other than contingent obligations as to which no claims have been asserted) have been paid in full in cash: 
 8.01 Financial Statements and
Other Information. The Borrower will furnish to the Lender: 
 (a) As soon as available and in any event within 30 days after the end of
each fiscal month of each fiscal year (excluding the last month of each fiscal quarter and each fiscal year), a consolidated balance sheet for the Borrower and its Subsidiaries as at the end of such fiscal month, and the related consolidated
statements of income or operations, shareholders’ (or members’) equity and cash flows for such fiscal month and the portion of the Borrower’s fiscal year then ended, prepared in accordance with GAAP consistently applied (subject to
changes resulting from normal year-end audit adjustments and except for the absence of notes), all in reasonable detail and setting forth in comparative form the figures for the corresponding period in the
preceding fiscal year, together with a certificate of a Responsible Officer of the Borrower stating that such financial statements fairly present in all material respects the financial condition of the Borrower and its Subsidiaries as at such date
and the results of operations of the Borrower and its Subsidiaries for the period ended on such date and have been prepared in accordance with GAAP consistently applied, subject to changes resulting from normal,
year-end audit adjustments and except for the absence of notes. 

  
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 (b) As soon as available and in any event within 45 days after the end of each fiscal
quarter of each fiscal year, the consolidated balance sheets of the Borrower and its Subsidiaries as of the end of such fiscal quarter, and the related consolidated statements of income, shareholders’ equity and cash flows of the Borrower and
its Subsidiaries for such quarter and the portion of the fiscal year through the end of such quarter, prepared in accordance with GAAP consistently applied (subject to changes resulting from normal year-end
audit adjustments and except for the absence of notes), all in reasonable detail and setting forth in comparative form the figures for the corresponding period in the preceding fiscal year, together with a certificate of a Responsible Officer of the
Borrower stating that such financial statements fairly present the financial condition of the Borrower and its Subsidiaries as at such date and the results of operations of the Borrower and its Subsidiaries for the period ended on such date and have
been prepared in accordance with GAAP consistently applied, subject to changes resulting from normal, year-end audit adjustments and except for the absence of notes. 

(c) Commencing with the fiscal year ending December 31, 2017, as soon as available and in any event within (i) 90 days after the end of
such fiscal year, the unaudited consolidated balance sheets of the Borrower and its Subsidiaries as of the end of such fiscal year, and the related consolidated statements of income, shareholders’ equity and cash flows of the Borrower and its
Subsidiaries for such fiscal year, prepared in accordance with GAAP consistently applied, all in reasonable detail and setting forth in comparative form the figures for the previous fiscal year together with a certificate of a Responsible Officer of
the Borrower stating that such financial statements fairly present the financial condition of the Borrower and its Subsidiaries as at such date and the results of operations of the Borrower and its Subsidiaries for the period ended on such date and
have been prepared in accordance with GAAP consistently applied, subject to changes resulting from normal, year-end audit adjustments and except for the absence of notes) and (ii) 180 days after the end of
each fiscal year, the audited consolidated balance sheets of the Borrower and its Subsidiaries as of the end of such fiscal year, and the related consolidated statements of income, shareholders’ equity and cash flows of the Borrower and its
Subsidiaries for such fiscal year, prepared in accordance with GAAP consistently applied, all in reasonable detail and setting forth in comparative form the figures for the previous fiscal year, accompanied by a report and opinion thereon of
Ernst & Young or another firm of independent certified public accountants of recognized national standing reasonably acceptable to the Lender, which report and opinion shall be prepared in accordance with GAAP, consistently applied, and
shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit. 

(d) Together with the financial statements required pursuant to Sections 8.01(a), (b) and (c), a compliance certificate of a
Responsible Officer as of the end of the applicable accounting period, substantially in the form of Exhibit E (a “Compliance Certificate”) including details of any issues that are material that are raised by auditors.

  
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 (e) As soon as available and in any event no later than 45 days following the end of any
fiscal year, copies of an annual budget (or equivalent) for the Borrower and its Subsidiaries, approved by the Board, for the then current fiscal year, in form reasonably satisfactory to the Collateral Agent, accompanied by a certificate of the
chief financial officer of the Borrower certifying that (i) such budget was prepared by the Borrower, in good faith, (ii) the Borrower had at the time of preparation of the budget, and at all times thereafter (including on and as of the
date of delivery to the Collateral Agent of such budget) has continued to have, a reasonable basis for all of the assumptions contained in such budget and (iii) such budget was prepared in accordance with, and based upon, such assumptions. 

(e) Copies of all letters of representation signed by the Borrower to its auditors and, promptly upon receipt thereof, copies of all auditor
reports delivered for each fiscal quarter. 
 (f) [Reserved]. 

(g) Promptly, and in any event within five Business Days after receipt thereof by any Obligor or any of its Subsidiaries, copies of each notice
or other correspondence received from any securities regulator or exchange to the authority of which the Borrower may become subject from time to time concerning any investigation or possible investigation or other inquiry by such agency regarding
financial or other operational results of such Obligor. 
 (h) The information regarding insurance maintained by the Borrower and its
Subsidiaries as required under Section 8.05. 
 (i) [Reserved]. 

(j) Within five Business Days of delivery, copies of all statements, reports and notices (including board kits) made available to holders of
the Borrower’s Equity Interests; provided that any such material may be redacted by the Borrower to exclude information relating to the Lender (including the Borrower’s strategy regarding the Loans). 

(k) As soon as possible and in any event within ten (10) Business Days after the Borrower obtains knowledge of any return, recovery,
dispute or Claim related to any Product or inventory that involves more than $300,000, written notice thereof from a Responsible Officer of the Borrower which notice shall set forth in reasonable detail the basis for such return, recovery, dispute
or Claim. 
 (l) Such other information respecting the operations, properties, business or condition (financial or otherwise) of the Borrower
and its Subsidiaries (including with respect to the Collateral) as the Lender may from time to time reasonably request. 
 8.02 Notices of Material
Events. The Borrower will furnish to the Collateral Agent written notice of the following promptly, but in any event within five Business Days, after a Responsible Officer first learns of the existence of: 

(a) The occurrence of any Default. 

  
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 (b) Notice of the occurrence of any event with respect to its property or assets resulting
in an uninsured Loss aggregating $300,000 (or the Equivalent Amount in other currencies) or more. 
 (c) The occurrence of any event or
circumstance giving rise to (or reasonably expected to give rise to) any environmental liability under Environmental Laws, including any action, suit, Claim, notice of violation, hearing, investigation or proceeding pending, or, to the best
knowledge of the Borrower, threatened against or affecting the Borrower or any of its Subsidiaries or with respect to the ownership, use, maintenance and operation of their respective businesses, operations or properties, relating to Environmental
Laws or Hazardous Materials. 
 (d) The filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental
Authority against or affecting the Borrower or any of its Affiliates that, if adversely determined, could reasonably be expected to result in a Material Adverse Effect. 

(e) (i) On or prior to any filing by any ERISA Affiliate of any notice of intent to terminate any Title IV Plan, a copy of such notice and
(ii) promptly, and in any event within ten days, after any Responsible Officer of any ERISA Affiliate knows or has reason to know that a request for a minimum funding waiver under Section 412 of the Code has been filed with respect to any
Title IV Plan or Multiemployer Plan, a notice (which may be made by telephone if promptly confirmed in writing) describing such waiver request and any action that any ERISA Affiliate proposes to take with respect thereto, together with a copy of any
notice filed with the PBGC or the IRS pertaining thereto. 
 (f) (i) The termination of any Material Agreement; or (ii) the receipt
by the Borrower or any of its Subsidiaries of any material adverse notice under any Material Agreement (and a copy thereof). 
 (g) The
reports and notices as required by the Security Documents. 
 (h) Within thirty (30) days of the date thereof, or, if earlier, on the
date of delivery of any financial statements pursuant to Section 8.01, notice of any material change in accounting policies or financial reporting practices by the Obligors. 

(i) Promptly after the occurrence thereof, notice of any labor controversy resulting in or threatening to result in any strike, work stoppage,
boycott, shutdown or other material labor disruption against or involving an Obligor. 
 (j) A licensing agreement or arrangement entered
into by the Borrower or any of its Subsidiaries in connection with (or as a result of) any infringement or alleged infringement by the Borrower or any of its Subsidiaries of the Intellectual Property of another Person. 

(k) Concurrently with the delivery of financial statements under Section 8.01(c), a list of any new Material
Intellectual Property created or acquired by the Borrower or any of its Subsidiaries after the date hereof and during such prior fiscal year which is registered or becomes registered or the subject of an application for registration with the U.S.
Copyright Office or the U.S. Patent and Trademark Office, as applicable, or with any other equivalent foreign Governmental Authority 

  
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 (l) Any change to any Obligor’s ownership of Deposit Accounts, Securities Accounts and
Commodity Accounts (in each case, other than with respect to Excluded Deposit Accounts), by delivering the Collateral Agent an updated Schedule 7 to the Security Agreement setting forth a complete and correct list of all such accounts as of the date
of such change. 
 (m) The occurrence or existence of any event, circumstance, act or omission that would cause any representation or
warranty contained in Section 7.07, Section 7.18 or Section 7.19 to be incorrect in any material respect if such representation or warranty was to be made at the time the
Borrower learned of such event, circumstance, act or omission. 
 (n) Any other development that results in, or could reasonably be expected
to result in, a Material Adverse Effect. 
 Each notice delivered under this Section 8.02 shall be accompanied by a
statement of a Responsible Officer of the Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

8.03 Existence; Conduct of Business. Such Obligor will, and will cause each of its Subsidiaries to, do or cause to be done all things necessary to
preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its business; provided that the foregoing shall not prohibit any merger,
amalgamation, consolidation, liquidation or dissolution permitted under Section 9.03. 
 8.04 Payment of Obligations. Such
Obligor will, and will cause each of its Subsidiaries to, pay and discharge all Taxes imposed upon it or upon its properties or assets prior to the date on which penalties attach thereto, and all lawful claims for labor, materials and supplies
which, if unpaid, might become a Lien upon any properties or assets of the Borrower or any of its Subsidiaries, except to the extent such Taxes or such claims are being contested in good faith by appropriate proceedings and are adequately reserved
against in accordance with GAAP. 
 8.05 Insurance. 

(a) Such Obligor will, and will cause each of its Subsidiaries to maintain, with financially sound and reputable insurance companies, insurance
in such amounts and against such risks as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations. Upon the reasonable request of the Collateral Agent, the Borrower shall furnish
the Lender from time to time with (i) full information as to the insurance carried by it and, if so requested, copies of all such insurance policies and (ii) a certificate from the Borrower’s insurance broker or other insurance
specialist stating that all premiums then due on the policies relating to insurance on the Collateral have been paid, that such policies are in full force and effect. The Borrower shall use commercially reasonable efforts to ensure, or cause others
to ensure, that all insurance policies required under this Section 8.05(a) shall provide that they 

  
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shall not be terminated or cancelled nor shall any such policy be materially changed in a manner adverse to the Borrower without at least thirty (30) days’ prior written notice to the
Borrower and the Collateral Agent (or ten (10) days in the case of non-payment of premiums). Receipt of notice of termination or cancellation of any such insurance policies shall, if new policies are not
obtained by the Borrower, entitle the Secured Parties to renew any such policies, cause the coverages and amounts thereof to be maintained at levels required pursuant to the first sentence of this Section 8.05(a) or
otherwise to obtain similar insurance in place of such policies, in each case at the expense of the Borrower (payable on demand). The amount of any such expenses shall accrue interest at the Default Rate if not paid on demand and shall constitute
“Obligations.” 
 (b) Upon the occurrence and continuance of any Event of Default, in the event any landlord of any Obligor has
demanded that the Collateral Agent obtain liability insurance before entering the landlord’s premises in connection with any remedial action to be taken by the Collateral Agent, the Collateral Agent may make a demand upon the Borrower to
(i) purchase insurance in such amounts, against such risks and covering such Persons as required to be maintained by such landlord and (ii) deliver to the applicable landlord (with a copy to the Collateral Agent) any endorsement to such
insurance policy as required by such landlord. In the event the Borrower shall fail to purchase such insurance or deliver such endorsement within five (5) Business Days of demand therefor, the Collateral Agent may obtain such insurance and the
Borrower shall be obligated to reimburse the Collateral Agent for such expense on demand. Such reimbursement obligation shall constitute an Obligation hereunder and, if not paid within three (3) Business Days of demand made by the Collateral
Agent, shall accrue interest at the Default Rate. 
 8.06 Books and Records; Inspection Rights. Such Obligor will, and will cause each of its
Subsidiaries to, keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities. Such Obligor will, and will cause each of its Subsidiaries to,
permit any representatives designated by the Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers and
independent accountants, all at such reasonable times (but not more often than once a year unless an Event of Default has occurred and is continuing) as the Lender may request. The Obligors shall pay all reasonable and documented out-of-pocket costs of all such inspections. 
 8.07 Compliance with Laws and
Other Obligations. Such Obligor will, and will cause each of its Subsidiaries to, (i) comply in all material respects with all Laws (including applicable Environmental Laws), and (ii) comply in all material respects with all terms of
Indebtedness and all other Material Agreements, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

8.08 Maintenance of Properties, Etc. Such Obligor will, and will cause each of its Subsidiaries to, maintain and preserve all of its properties
necessary in the conduct of its business in good working order and condition in accordance with the general practice of other Persons of similar character and size, ordinary wear and tear and damage from casualty or condemnation excepted. 

  
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 8.09 Licenses. Such Obligor will, and will cause each of its Subsidiaries to, obtain and maintain all
Regulatory Approvals and other Governmental Approvals necessary in connection with the execution, delivery and performance of the Loan Documents, the consummation of the Transactions or the operation and conduct of its business and ownership of its
properties, including the ownership and use of its Products and all Product Development and Commercialization Activities related thereto, except where failure to do so could not reasonably be expected to have a Material Adverse Effect. 

8.10 Action under Environmental Laws. Such Obligor will, and will cause each of its Subsidiaries to, upon becoming aware of the presence of any
Hazardous Materials in violation of applicable Environmental Laws or the existence of any environmental liability under applicable Environmental Laws with respect to their respective businesses, operations or properties, take all actions, at their
cost and expense, required under applicable Environmental Laws to investigate and clean up the condition of their respective businesses, operations or properties, including all required removal, containment and remedial actions, and restore their
respective businesses, operations or properties to a condition in compliance with applicable Environmental Laws. 
 8.11 Use of Proceeds. The proceeds
of the Loans will be used only as provided in Section 2.04. No part of the proceeds of the Loans will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board
of Governors of the Federal Reserve System, including Regulations T, U and X. 
 8.12 Certain Obligations Respecting Subsidiaries; Further Assurances.

 (a) Such Obligor will take such action, and will cause each of its Subsidiaries to take such action, from time to time as shall be
necessary to ensure that all Domestic Subsidiaries are “Subsidiary Guarantors” hereunder. Without limiting the generality of the foregoing, in the event that any Obligor or any of its Domestic Subsidiaries shall form or acquire any new
Subsidiary, such Obligor will (or will cause such Subsidiary to) no later than within 60 days of such formation or acquisition: 
 (i) cause
such new Domestic Subsidiary to become a “Subsidiary Guarantor” hereunder pursuant to a Guarantee Assumption Agreement; 
 (ii)
take such action or cause such Domestic Subsidiary to take such action (including joining the Security Agreement, delivering such shares of stock together with undated transfer powers executed in blank) as shall be necessary to create and perfect
valid and enforceable first priority (subject to Permitted Priority Liens) Liens on substantially all of the personal property of such new Domestic Subsidiary as collateral security for the obligations of such new Domestic Subsidiary hereunder; 

  
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 (iii) to the extent that the parent of such Subsidiary is not a party to the Security
Agreement or has not otherwise pledged Equity Interests in its Subsidiaries in accordance with the terms of the Security Agreement and this Agreement, cause the parent of such Subsidiary to execute and deliver a pledge agreement in favor of the
Collateral Agent, for the benefit of the Secured Parties, in respect of all outstanding issued shares of such Subsidiary if it is a Domestic Subsidiary or 65% of the issued shares of such Subsidiary if it is a Foreign Subsidiary, to the extent not
prohibited or otherwise restricted by applicable law; 
 (iv) with respect to any Subsidiary, deliver such proof of corporate action,
incumbency of officers, opinions of counsel and other documents as is consistent with those delivered by each Obligor pursuant to Section 6.01 or as the Lender shall have requested; and 

(v) shall cause each new Subsidiary to become party to the Intercompany Subordination Agreement. 

(b) Such Obligor will, and will cause each of its Subsidiaries to, take such action from time to time as shall reasonably be requested by the
Lender to effectuate the purposes and objectives of this Agreement. 
 Without limiting the generality of the foregoing, each Obligor will, and will cause
each Person that is required to be a Subsidiary Guarantor to, take such action from time to time (including executing and delivering such assignments, security agreements, control agreements and other instruments) as shall be reasonably requested by
the Collateral Agent to create, in favor of the Collateral Agent, for the benefit of the Secured Parties, perfected security interests and Liens in substantially all of the personal property of such Obligor and its Subsidiaries as collateral
security for the Obligations; provided that any such security interest or Lien shall be subject to the relevant requirements of the Security Documents. 

8.13 Termination of Non-Permitted Liens. In the event that the Borrower or any of its Subsidiaries shall become
aware or be notified by the Collateral Agent or the Lender of the existence of any outstanding Lien against any asset or property of the Borrower or any of its Subsidiaries, which Lien is not a Permitted Lien, the Borrower shall use its best efforts
to promptly terminate or cause the termination of such Lien. 
 8.14 Intellectual Property. In the event that the Obligors acquire or create Obligor
Intellectual Property during the term of this Agreement, then the provisions of this Agreement shall automatically apply thereto and any such Obligor Intellectual Property shall automatically constitute part of the Collateral under the Security
Documents, without further action by any party, in each case from and after the date of such acquisition or creation (except that any representations or warranties of any Obligor shall apply to any such Obligor Intellectual Property only from and
after the date, if any, subsequent to such acquisition or creation that such representations and warranties are brought down or made anew as provided herein). 

  
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 8.15 Litigation Cooperation. The Borrower shall make available to the Collateral Agent, without
expense to the Collateral Agent, reasonable access to each Obligor and such Obligor’s officers, employees and agents and such Obligor’s books and records, to the extent that the Collateral Agent may deem them reasonably necessary to
prosecute or defend any third-party suit or proceeding instituted by or against the Collateral Agent or the Lender with respect to any Collateral, the subject of any Loan Document or relating to any Obligor. 

8.16 Maintenance of Regulatory Approvals, Contracts, Intellectual Property, Etc. With respect to the Products and all Product Development and
Commercialization Activities, the Borrower will, and will cause each other Obligor and each of their respective Subsidiaries (to the extent applicable) to, (i) maintain in full force and effect all material Regulatory Approvals (including all
Product Authorizations), Material Agreements, Product Related Information, Material Intellectual Property, and other rights, interests or assets (whether tangible or intangible) necessary for the operations of the Borrower’s or such
Obligor’s business, as the case may be, including any Product Development and Commercialization Activities, (ii) notify the Collateral Agent, promptly after the Borrower obtains knowledge thereof, of (x) any product recalls, safety
alerts, corrections, withdrawals, marketing suspensions, removals or similar action conducted, to be undertaken or issued by the Borrower, any such Obligor or any of their respective suppliers, as the case may be, whether or not at the request,
demand or order of any Governmental Authority or otherwise with respect to any Product or any Product Development and Commercialization Activities, in each case, solely in the event such action could reasonably be expected to result in a Material
Adverse Effect or (y) any basis that would lead the Borrower to reasonably expect or anticipate the undertaking or issuing any such action or item, (iii) maintain in full force and effect, and pay all costs and expenses relating to such
maintenance, all Material Intellectual Property owned or controlled by the Borrower or any such Obligor that is used in and is necessary for the operations of the business of such Person, including Product Development and Commercialization
Activities, and all Material Agreements, (iv) notify the Collateral Agent, promptly after the Borrower obtains knowledge thereof, of any material Infringement or other violation by any Person of the Borrower’s or any other Obligor’s
Material Intellectual Property that is used in the operations of the business of such Person, or in connection with any Product Development and Commercialization Activities, and aggressively pursue any such Infringement or other violation, to the
extent the Borrower deems it commercially reasonable to do so, (v) use commercially reasonable efforts to pursue and maintain in full force and effect legal protection for all new Material Intellectual Property developed or controlled by the
Borrower or any other Obligor, as the case may be, that is used in and necessary for the operations of the business of such Person, or in connection with any Product Development and Commercialization Activities, and (vi) notify the Collateral
Agent, promptly after the Borrower obtains knowledge thereof, of any non-frivolous and material claim by any Person that the conduct of the Borrower’s or any such Obligor’s business (including any
Product Development and Commercialization Activities) Infringes any Intellectual Property of such Person. 

  
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 8.17 ERISA Compliance. The Borrower will comply, and will cause each of its Subsidiaries to comply,
in all material respects, with the provisions of ERISA with respect to any Benefit Plan to which the Borrower or any of its Subsidiaries is a party as employer. 

8.18 Cash Management. The Borrower will, and will cause each of its Domestic Subsidiaries to: 

(a) maintain all deposit accounts, disbursement accounts, investment accounts (and other similar accounts) and lockboxes with a bank or
financial institution that has executed and delivered to the Collateral Agent an Account Control Agreement (provided that no Account Control Agreement shall be required for any payroll or payroll tax account of the Borrower or any deposit
account maintained in connection with any the Borrower employee benefit plan, to the extent the funds on deposit therein are held for the benefit of the Borrower’s employees (collectively, the “Excluded Deposit
Accounts”)); each such deposit account, disbursement account, investment account (or similar account) and lockbox (each, a “Controlled Account”) shall be a cash collateral account, with all cash, checks and other
similar items of payment in such account securing payment of the Obligations, and each Obligor shall have granted a Lien to the Collateral Agent over such Controlled Accounts; 

(b) arrange for all cash, checks, drafts or other similar items of payment relating to or constituting Revenue or otherwise received in respect
of Product Development and Commercialization Activities to be directly deposited into Controlled Accounts; and 
 (c) cause each Controlled
Account, at all times, to be subject to a legal, valid and binding Account Control Agreement in favor of the Secured Parties. 
 8.19 2016 Financial
Statements, Etc. On or before June 30, 2017, the Borrower shall have delivered to the Collateral Agent audited consolidated financial statements of the Borrower and its Subsidiaries for the fiscal year ended December 31, 2016.
On or before June 30, 2017, the Borrower shall have delivered to the Collateral Agent (x) the Landlord Consent with respect to the real property leased by the Borrower and (y) the Account Control Agreement with respect to the
investment accounts of the Borrower). 
 8.20 

SECTION 9 
 NEGATIVE
COVENANTS 
 Each Obligor jointly and severally covenants and agrees with the Lender that, until the Commitments have expired or been
terminated and all Obligations (other than contingent obligations as to which no claims have been asserted) have been paid in full in cash: 
 9.01
Indebtedness. Such Obligor will not, and will not permit any of its Subsidiaries to, create, incur, assume or permit to exist any Indebtedness, whether directly or indirectly, except: 

(a) the Obligations; 

  
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 (b) Indebtedness existing on the date hereof and set forth in Schedule 7.13(a) and
Permitted Refinancings thereof; provided that, in each case, such Indebtedness is subordinated to the Obligations on terms satisfactory to the Lender; 

(c) accounts payable to trade creditors for goods and services and current operating liabilities (not the result of the borrowing of money)
incurred in the ordinary course of such Obligor’s or such Subsidiary’s business in accordance with customary terms and paid within the specified time, unless contested in good faith by appropriate proceedings and reserved for in accordance
with GAAP; 
 (d) unsecured Indebtedness consisting of Guarantees resulting from endorsement of negotiable instruments for collection by any
Obligor in the ordinary course of business; 
 (e) unsecured Indebtedness of an Obligor, including in respect of Guarantees owed, to any
other Obligor; provided that, in each case, such Indebtedness is subject to the terms of the Intercompany Subordination Agreement; 

(f) normal course of business equipment financing (including Capital Lease Obligations and purchase money debt); provided that
(i) if any such financing is secured, the collateral therefor shall consist solely of the assets being financed pursuant to such financing, the products and proceeds thereof and books and records related thereto, and (ii) the aggregate
outstanding principal amount of such Indebtedness incurred pursuant to clause (f) shall not exceed $3,000,000 (or the Equivalent Amount in other currencies) at any time in the aggregate; 

(g) unsecured Indebtedness under Hedging Agreements permitted by Section 9.05(f); 

(h) Indebtedness under a revolving credit line secured solely by accounts receivable of the Borrower and its Subsidiaries and proceeds thereof
and no other property or assets; provided that the loan documents with respect to such Indebtedness shall be in form and substance reasonably satisfactory to the Lender (in its sole discretion) and such Indebtedness shall be subject to an
intercreditor agreement in form and substance reasonably satisfactory to the Lender (in its sole discretion); provided, further, that the aggregate outstanding principal amount of such Indebtedness in respect of such revolving credit
line does not exceed $3,000,000 (or the Equivalent Amount in other currencies) at any time; 
 (i) Indebtedness incurred in order to finance
the payment of insurance premiums in the ordinary course of business; 
 (j) unsecured Indebtedness subordinated in right of payment and
action to the Obligations pursuant to documentation in form and substance satisfactory to the Lender (in its sole discretion); provided that the aggregate outstanding principal amount of such unsecured subordinated Indebtedness shall
not exceed $2,000,000 (or the Equivalent Amount in other currencies) at any time; 
 (k) other unsecured Indebtedness not exceeding, in the
aggregate, at any time outstanding $300,000; 

  
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 (l) unsecured Indebtedness from the use of the Borrower’s or its Subsidiaries credit
cards in the ordinary course of business not exceeding, in the aggregate, at any time outstanding $500,000; and 
 (m) unsecured Indebtedness
consisting of seller notes, earn-outs and similar obligations in connection with any Permitted Acquisition, not exceeding, in the aggregate at any time outstanding, $3,000,000; provided that such Indebtedness shall not exceed 50% of the
purchase price of any Permitted Acquisition; 
 provided that, no Indebtedness otherwise permitted by clauses (f), (j), (k) or
(m) of this Section 9.01 shall be assumed, created or otherwise incurred if a Default has occurred and is then continuing or could reasonably be expected to result therefrom. 

9.02 Liens. Such Obligor will not, and will not permit any of its Subsidiaries to, create, incur, assume or permit to exist any Lien on any property now
owned by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except: 
 (a)
Liens securing the Obligations; 
 (b) any Lien on any property or asset of the Borrower or any of its Subsidiaries existing on the date
hereof and set forth in Schedule 7.13(b); provided that (i) no such Lien shall extend to any other property or asset of the Borrower or any of its Subsidiaries and (ii) any such Lien shall secure only those obligations which
it secures on the date hereof and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; 

(c) Liens securing Indebtedness permitted under clauses (f) and (h) of Section 9.01;
provided that such Liens are restricted solely to the collateral described in such clause (f) or (h), as applicable; 

(d) Liens imposed by Law which were incurred in the ordinary course of business, including (but not limited to) carriers’,
warehousemen’s and mechanics’ liens and other similar Liens arising in the ordinary course of business and which (x) do not in the aggregate materially detract from the value of the property subject thereto or materially impair the
use thereof in the operations of the business of such Person or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing the forfeiture or sale of the property subject to such Liens and
for which adequate reserves have been made if required in accordance with GAAP; 
 (e) pledges or deposits made in the ordinary course of
business in connection with workers’ compensation, unemployment insurance or other similar social security legislation; 
 (f) Liens
securing Taxes, assessments and other governmental charges, the payment of which is not yet due or is being contested in good faith by appropriate proceedings promptly initiated and diligently conducted and for which such reserve or other
appropriate provisions, if any, as shall be required by GAAP shall have been made; 

  
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 (g) servitudes, easements, rights of way, restrictions and other similar encumbrances on
real property imposed by any Law and encumbrances consisting of zoning or building restrictions, easements, licenses, restrictions on the use of property or minor imperfections in title thereto which, in the aggregate, are not material, and which do
not in any case materially detract from the value of the property subject thereto or interfere with the ordinary conduct of the business of any of the Obligors; 

(h) with respect to any real property, (i) such defects or encroachments as might be revealed by an up-to-date survey of such real property; (ii) the reservations, limitations, provisos and conditions expressed in the original grant, deed or patent of such property by the original owner of such real
property pursuant to Laws; and (iii) rights of expropriation, access or use or any similar right conferred or reserved by or in any Law, which, in the aggregate for (i), (ii) and (iii), are not material, and which do not in any case materially
detract from the value of the property subject thereto or interfere with the ordinary conduct of the business of any of the Obligors; 
 (i)
bankers’ liens, rights of setoff and similar Liens incurred on deposits made in Deposit Accounts in the ordinary course of business; 

(j) Liens consisting of judgment or judicial attachment Liens (other than for the payment of Taxes) in respect of judgments, the existence of
which do not constitute an Event of Default under Section 11.01(i); 
 (k) licenses (including licenses of
Intellectual Property), sublicenses, leases or subleases granted by the Borrower or its Subsidiaries to third parties in the ordinary course of business and not prohibited by the terms hereof or any other Loan Document, including, without
limitation, Section 9.13(b); 
 (l) Liens securing Indebtedness permitted under Section 9.01(i); 

provided that no Lien otherwise permitted under any of clauses (c), (g), (h) and (i) above shall apply to any Material
Intellectual Property. 
 9.03 Fundamental Changes and Acquisitions. Such Obligor will not, and will not permit any of its Subsidiaries to,
(i) enter into any transaction of merger, amalgamation or consolidation, (ii) liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), (iii) sell or issue any of its Equity Interests, or (iv) make any
Acquisition or otherwise acquire any business or substantially all the property from, or Equity Interests in, or be a party to any acquisition of, any Person, except: 

(a) Investments permitted under Section 9.05(e); 

(b) the merger, amalgamation or consolidation of any Subsidiary with or into any Obligor; 

(c) the sale, lease, transfer or other disposition by any Subsidiary of any or all of its property (upon voluntary liquidation or otherwise) to
any Obligor; 

  
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 (d) the sale, transfer or other disposition of the Equity Interests of any Subsidiary to any
Obligor; 
 (e) Permitted Acquisitions; 

(f) Asset Sales permitted pursuant to Section 9.09; 

(g) mergers, amalgamations and consolidations between Foreign Subsidiaries; 

(h) the sale, transfer, lease or other disposition of assets by one Foreign Subsidiary to another Foreign Subsidiary; 

(i) the sale, transfer, lease or other disposition of assets by an Obligor to Foreign Subsidiaries not to exceed an aggregate amount (or value)
of $250,000 per year for all Obligors collectively; 
 (j) sale or issuance by the Borrower of its Equity Interests for financing purposes or
in connection with a Public Offering; provided that all such Equity Interests sold or issued qualify as Qualified Equity Interests; and 

(k) the issuance of up to 410,337 shares of Series D preferred stock of the Borrower pursuant to Section 1.2(c) of the PIPSTEK Unit
Purchase Agreement; 
 provided no action otherwise permitted by clauses (a) through (f), or (i) of this
Section 9.03 shall be permitted if a Default has occurred and is then continuing or could reasonably be expected to result therefrom. 

9.04 Lines of Business. Such Obligor will not, and will not permit any of its Subsidiaries to, engage to any material extent in any business other than
the business engaged in or planned to be engaged in on the date hereof by the Borrower or and its Subsidiaries or a business reasonably related thereto, which shall include, without limitation, any business related to dentistry. 

9.05 Investments. Such Obligor will not, and will not permit any of its Subsidiaries to, make, directly or indirectly, or permit to remain outstanding
any Investments except: 
 (a) Investments outstanding on the date hereof and identified in Schedule 9.05; 

(b) operating deposit accounts with banks that comply with Section 8.18; 

(c) extensions of credit in the nature of accounts receivable or notes receivable arising from the sales of goods or services in the ordinary
course of business; 
 (d) Permitted Cash Equivalent Investments; 

(e) Investments by any Obligor in the Subsidiary Guarantors; 

  
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 (f) Hedging Agreements entered into in the Borrower’s ordinary course of business for
the purpose of hedging currency or interest rate risks (and not for speculative purposes); 
 (g) Investments consisting of security deposits
with utilities and other like Persons made in the ordinary course of business; 
 (h) employee loans, travel advances and Guarantees in
accordance with the Borrower’s usual and customary practices with respect thereto (if permitted by Laws) which in the aggregate shall not exceed $100,000 outstanding at any time (or the Equivalent Amount in other currencies); 

(i) Investments received in connection with any Insolvency Proceedings in respect of any customers, suppliers or clients and in settlement of
delinquent obligations of, and other disputes with, customers, suppliers or clients; 
 (j) Investments permitted under
Section 9.03; 
 (k) Investments by Foreign Subsidiaries in other Foreign Subsidiaries; 

(l) Investments by an Obligor in Foreign Subsidiaries not exceeding $300,000 per year; provided that such Investments (together with the
Indebtedness permitted by Section 9.01(e)) does not exceed $1,000,000 (or the Equivalent Amount in other currencies) at any time; 

(m) Investments by Foreign Subsidiaries in other Foreign Subsidiaries; 

(n) Investments consisting of non-cash loans or advances to officers, directors and employees solely
for the purpose of financing the purchase by such Persons of Qualified Equity Interests of the Borrower; and 
 (o) other Investments not
otherwise permitted by the foregoing clauses (a) through (m); provided that such Investments do not exceed $300,000 in the aggregate at any time outstanding; 

provided that, no Investment otherwise permitted by clauses (e) or (j) through (o) of this
Section 9.05 shall be made or assumed if a Default has occurred and is then continuing or could reasonably be expected to result therefrom. 

9.06 Restricted Payments. Such Obligor will not, and will not permit any of its Subsidiaries to, declare or make, or agree to pay or make, directly or
indirectly, any Restricted Payment, other than: 
 (a) dividends with respect to the Borrower’s Equity Interests payable solely in
additional Equity Interests that constitute common stock (or the equivalent); 
 (b) the Borrower’s purchase, redemption, retirement, or
other acquisition of its Equity Interests with the proceeds received from a substantially concurrent issue of new shares of its Qualified Equity Interests; and 

  
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 (c) dividends paid by any Subsidiary to any Obligor. 

9.07 Payments of Indebtedness. Such Obligor will not, and will not permit any of its Subsidiaries to, make any payments in respect of any Indebtedness
other than (i) payments of the Obligations, (ii) scheduled payments of other Permitted Indebtedness and (iii) repayment of intercompany subordinated Indebtedness created or incurred pursuant to
Section 9.01(e). 
 9.08 Change in Fiscal Year. Such Obligor will not, and will not permit any of its Subsidiaries to,
change the last day of its fiscal year from that in effect on the date hereof, except to change the fiscal year of a Subsidiary acquired in connection with an Acquisition to conform its fiscal year to that of the Borrower. 

9.09 Sales of Assets, Etc. Such Obligor will not, and will not permit any of its Subsidiaries to, sell, lease, license, transfer or otherwise dispose of
any of its property (including accounts receivable and Equity Interests of Subsidiaries), or forgive, release or compromise any amount owed to such Obligor or Subsidiary, in each case, in one transaction or series of transactions (any thereof, an
“Asset Sale”), except: 
 (a) sales of inventory in the ordinary course of its business on ordinary business terms;

 (b) the forgiveness, release or compromise of any amount owed to any other Obligor in the ordinary course of business; 

(c) Asset Sales that constitute outbound licenses permitted pursuant to Section 9.13(b); 

(d) transfers of property by any Subsidiary to any other Obligor; 

(e) dispositions of any property that is obsolete or worn out or no longer used or useful in the Business; 

(f) in connection with any transaction permitted under Section 9.03 or 9.05; 

(g) dispositions of equipment to the extent that such equipment is simultaneously exchanged for credit against the purchase price of
replacement equipment; 
 (h) dispositions for cash of past due accounts receivable in the ordinary course of business (including any
discount and/or forgiveness thereof) or, in the case of accounts receivable in default, in connection with the collection or compromise thereof; 

(i) dispositions of non-core assets acquired pursuant to a Permitted Acquisition; 

(j) dispositions not otherwise permitted hereunder which are made for fair market value; provided that (i) not less than seventy
five percent (75%) of the aggregate sales price from such disposition shall be paid in cash and (ii) the aggregate fair market value of all assets so sold by the Borrower and its Domestic Subsidiaries, together, shall not exceed in any fiscal
year $300,000 in the aggregate; and 

  
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 (k) disposition of accounts receivable pursuant to a financing transaction permitted
pursuant to Section 9.01(h); 
 provided that, no Asset Sale otherwise permitted by clauses (i) or (j)
of this Section 9.09 shall be made or assumed if a Default has occurred and is then continuing or could reasonably be expected to result therefrom. 

9.10 Transactions with Affiliates. Such Obligor will not, and will not permit any of its Subsidiaries to, sell, lease, license or otherwise transfer any
assets to, or purchase, lease, license or otherwise acquire any assets from, or otherwise engage in any other transactions with, any of its Affiliates, except: 

(a) transactions between or among Obligors (other than any Foreign Subsidiary); 

(b) any transaction not prohibited under this Agreement so long as the terms thereof are no less favorable (including the amount of cash
received by the Borrower) to the Borrower than those that would be obtained in a comparable arm’s-length transaction with a Person not an Affiliate of the Borrower; 

(c) customary compensation and indemnification of, and other employment arrangements with, directors, officers and employees of the Borrower or
any of its Subsidiaries in the ordinary course of business; 
 (d) issuances of Equity Interests by the Borrower constituting common stock
(or the equivalent thereof) to Affiliates in exchange for cash; provided that the terms thereof are no less favorable (including the amount of cash received by the Borrower) to the Borrower than those that would be obtained in a comparable arm’s-length transaction with a Person not an Affiliate of the Borrower; and 
 (e) the transactions
set forth on Schedule 9.10. 
 9.11 Restrictive Agreements. Such Obligor will not, and will not permit any of its Subsidiaries to, directly or
indirectly, enter into, incur or permit to exist any Restrictive Agreement other than (i) restrictions and conditions imposed by Law or by the Loan Documents and (ii) the Restrictive Agreements listed on Schedule 7.15, which
Restrictive Agreements may not be amended or otherwise modified in any manner so as to make such agreements more restrictive than as in effect on the date hereof without the consent of the Collateral Agent. 

9.12 Modifications and Terminations of Material Agreements and Organic Documents. Such Obligor will not, and will not permit any of its Subsidiaries to,

  
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 (a) waive, amend, terminate, replace or otherwise modify any term or provision of any
Organic Document, in any manner that would reasonably be expected to be materially adverse to the interests of the Secured Parties or any of the Obligations (including any Warrant Obligations); or     

(b) (x) take or omit to take any action that results in the termination of any Material Agreement (other than the expiration of such
Material Agreements in accordance with the terms thereof) or (y) take any action that permits any Material Agreement to be terminated by any counterparty thereto prior to its stated date of expiration (in each case, unless such terminated
Material Agreement is replaced with another agreement that, viewed as a whole, is on equal or better terms for the Borrower or such Subsidiary), except to the extent such omission or action could not reasonably be expected to have or result in a
Material Adverse Effect. 
 9.13 Inbound and Outbound Licenses. 

(a) Inbound Licenses. Except as disclosed on Schedule 9.13(a), no Obligor will, nor will it permit any of its Subsidiaries to,
become or remain bound by any inbound license agreement requiring any such Person, during any twelve-month period during the term of such license agreement, to make aggregate payments in excess of $1,000,000 for any such individual license or
agreement or in excess of $2,000,000 when taken together with all other such licenses agreements, unless (i) no Event of Default has occurred and is continuing and (ii)(x) the Borrower has provided prior written notice to the Collateral Agent
of the material terms of such license or agreement with a description of its anticipated and projected impact on the relevant Obligor’s consolidated business or financial condition, (y) such license or agreement has been approved pursuant
to the Borrower’s internal customary approval process for inbound licenses, and (z) the Borrower has taken such commercially reasonable actions as the Lender may reasonably request to obtain the consent of, or waiver by, any Person whose
consent or waiver is necessary for the Collateral Agent to be granted a valid and perfected Lien on such license agreement (subject to Sections 9-406, 9-407, 9-408 and 9-409 of the NYUCC) for the benefit of the Secured Parties and the right to fully exercise its rights under any of the Loan Documents, including upon the occurrence
and continuance of any Event of Default; provided that inbound licenses agreements in the nature of over-the-counter software that is commercially available to
the public shall not be prohibited by or subject to this clause (a). 
 (b) Outbound Licenses. Except as disclosed on
Schedule 9.13(b), no Obligor will, nor will it permit any of its Subsidiaries to, become or remain bound by any outbound license of Material Intellectual Property unless such outbound license (i) is duly authorized by the Borrower
in accordance with its customary internal approval process for outbound licenses and is entered into on an arm’s-length basis and in the ordinary course of business, (ii) is entered into for the
purpose of Product Development and Commercialization Activities with respect to a Product, (iii) does not otherwise constitute an Asset Sale prohibited under Section 9.09, (iv) to the extent such Material Intellectual
Property subject to such outbound license constitutes Collateral, does not impair the Secured Parties from fully exercising their rights under any of the Loan Documents in the event of a disposition or liquidation (including in connection with a
foreclosure) of such Intellectual Property upon the exercise of remedies, (v) is not an exclusive license (whether as to use, geography or otherwise), and (vi) is not perpetual. 

  
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 9.14 Sales and Leasebacks. Except as disclosed on Schedule 9.14, such Obligor will not, and
will not permit any of its Subsidiaries to, become liable, directly or indirectly, with respect to any lease, whether an operating lease or a Capital Lease Obligation, of any property (whether real, personal, or mixed), whether now owned or
hereafter acquired, (i) which such Obligor or Subsidiary has sold or transferred or is to sell or transfer to any other Person, and (ii) which such Obligor or Subsidiary intends to use for substantially the same purposes as property which
has been or is to be sold or transferred. 
 9.15 Hazardous Material. Such Obligor will not, and will not permit any of its Subsidiaries to, use,
generate, manufacture, install, treat, release, store or dispose of any Hazardous Material, except in compliance with all applicable Environmental Laws or where the failure to comply could not reasonably be expected to result in a Material Adverse
Effect. 
 9.16 Accounting Changes. Such Obligor will not, and will not permit any of its Subsidiaries to, make any significant change in accounting
treatment or reporting practices, except as required or permitted by GAAP. 
 9.17 Compliance with ERISA. No ERISA Affiliate shall cause or suffer to
exist (i) any event that could result in the imposition of a Lien with respect to any Title IV Plan or Multiemployer Plan or (ii) any other ERISA Event that would, in the aggregate, have a Material Adverse Effect. 

SECTION 10 
 FINANCIAL
COVENANTS 
 10.01 Minimum Liquidity. The Borrower shall at all times, except for not more than three (3) Business Days (whether or not
consecutive) during any calendar month, maintain a minimum aggregate balance of $3,000,000 in cash in one or more Controlled Accounts, which cash and Controlled Accounts shall be free and clear of all Liens, other than Liens granted hereunder in
favor of the Secured Parties for purposes of securing the Obligations and Liens permitted by Section 9.02(i) hereof. 
 10.02
Minimum Revenue. Subject to Section 10.03 below, on each calculation date set forth below (each, a “Calculation Date”), Revenue for the twelve consecutive month period ended on such Calculation
Date shall not be less than the amount set forth opposite such Calculation Date: 

  
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	 Calculation Date
	  	Revenue	 
	 March 31, 2018
	  	$	2,300,000	 
	 June 30, 2018
	  	$	3,000,000	 
	 September 30, 2018
	  	$	4,600,000	 
	 December 31, 2018
	  	$	6,000,000	 
	 March 31, 2019
	  	$	8,000,000	 
	 June 30, 2019
	  	$	11,000,000	 
	 September 30, 2019
	  	$	14,000,000	 
	 December 31, 2019
	  	$	17,000,000	 
	 March 31, 2020
	  	$	20,500,000	 
	 June 30, 2020
	  	$	24,000,000	 
	 September 30, 2020
	  	$	27,500,000	 
	 December 31, 2020
	  	$	32,000,000	 

 10.03 Revenue Covenant Cure. If, as of any Calculation Date set forth above, Revenue as of such Calculation Date is
less than the amount required above for such Calculation Date (a “Shortfall Default”), such Shortfall Default shall be deemed cured (a “Revenue Covenant Cure”) if, at all times from such Calculation
Date until the next scheduled Calculation Date, the Borrower maintains a minimum aggregate cash balance that, when taken together with amounts held on deposit pursuant to Section 10.01, equals not less than $6,000,000, with
all such cash being held in one or more Controlled Accounts, which cash and Controlled Accounts are free and clear of all Liens, other than Liens granted hereunder in favor of the Administrative Agent; provided that (i) the Borrower
shall only be entitled to two Revenue Covenant Cures during the term of this Agreement and (ii) the Borrower may not use a Revenue Covenant Cure in two consecutive fiscal quarters; provided, further that, at any time during which
a Revenue Covenant Cure is in effect, upon the request of the Lender, the Borrower shall, from time to time, provide evidence in written and reasonable detail demonstrating the Borrower’s maintenance of not less than $6,000,000 in cash in the
Controlled Accounts (as provided above). 

  
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 SECTION 11 

EVENTS OF DEFAULT 
 11.01 Events of
Default. Each of the following events shall constitute an “Event of Default”: 
 (a) Principal or Interest
Payment Default. The Borrower shall fail to pay: (i) when and as the same shall become due and payable, any amount of principal of on the Loans, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; or
(ii) within three (3) Business Days after the same shall become due and payable, any interest on the Loans. 
 (b) Other Payment
Defaults. Any Obligor shall fail to pay any Obligation (other than an amount referred to in Section 11.01(a)) when and as the same shall become due and payable, and such failure shall continue unremedied for a period of
three (3) Business Days. 
 (c) Representations and Warranties. Any representation or warranty made or deemed made by or on
behalf of any Obligor or any of its Subsidiaries under or in connection with this Agreement or any other Loan Document or any amendment or modification hereof or thereof or in any report, certificate, financial statement or other document furnished
pursuant to or in connection with this Agreement or any other Loan Document, shall: (i) prove to have been incorrect when made or deemed made to the extent that such representation or warranty contains any materiality or Material Adverse Effect
qualifier; or (ii) prove to have been incorrect in any material respect when made or deemed made to the extent that such representation or warranty does not otherwise contain any materiality or Material Adverse Effect qualifier. 

(d) Certain Covenants. Any Obligor shall fail to observe or perform any covenant, condition or agreement contained in Sections
8.02, 8.03 (with respect to the Borrower’s existence), 8.11, 8.12, 8.18, 8.19, Section 9 or Section 10. 

(e) Other Covenants. Any Obligor shall fail to observe or perform any covenant, condition or agreement contained in this Agreement
(other than those specified in Section 11.01(a), (b) or (d)) or any other Loan Document, and, in the case of any failure that is capable of cure, such failure shall continue unremedied for a period of 30 or
more days. 
 (f) Payment Default on Other Indebtedness. Any Obligor or any of its Subsidiaries shall fail to make any payment
(whether of principal or interest and regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable after giving effect to any applicable grace or cure period as originally provided by the terms of
such Indebtedness. 
 (g) Other Defaults on Other Indebtedness. (i) Any material breach of, or “event of default” or
similar event under, the documentation governing any Material Indebtedness shall occur, or (ii) any event or condition occurs (x) that results in any Material Indebtedness becoming due prior to its scheduled maturity or (y) that
enables or permits the holder or holders of such Material Indebtedness or any trustee or agent on its or their behalf to cause such Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof,
prior to its scheduled maturity and, in each case set forth in this clause (y) all applicable cure or grace periods have expired; provided that this Section 11.01(g) shall not apply to secured
Indebtedness that becomes due as a result of a casualty event or the voluntary sale or transfer of the property or assets securing such Material Indebtedness. 

  
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 (h) Insolvency, Bankruptcy, Etc. 

(i) Any Obligor becomes insolvent, or generally does not or becomes unable to pay its debts or meet its liabilities as the same become due, or
admits in writing its inability to pay its debts generally, or declares any general moratorium on its indebtedness. 
 (ii) Any Obligor
commits an act of bankruptcy or makes an assignment of its property for the general benefit of its creditors. 
 (iii) Any Obligor institutes
any proceeding seeking to adjudicate it an insolvent, or seeking liquidation, dissolution, winding-up, reorganization, compromise, arrangement, adjustment, protection, moratorium, relief, stay of proceedings
of creditors generally (or any class of creditors), or composition of it or its debts or any other relief, under any federal, provincial or foreign Law now or hereafter in effect relating to bankruptcy,
winding-up, insolvency, reorganization, receivership, plans of arrangement or relief or protection of debtors or at common law or in equity, or files an answer admitting the material allegations of a petition
filed against it in any such proceeding. 
 (iv) Any Obligor applies for the appointment of, or the taking of possession by, a receiver,
interim receiver, receiver/manager, sequestrator, conservator, custodian, administrator, trustee, liquidator, voluntary administrator, receiver and manager or other similar official for it or any substantial part of its property. 

(v) Any Obligor takes any action, corporate or otherwise, to approve, effect, consent to or authorize any of the actions described in this
Section 11.01(h). 
 (vi) Any petition is filed, application made or other proceeding instituted against or in
respect of the Borrower or any of its Subsidiaries: 
 (A) seeking to adjudicate it as insolvent; 

(B) seeking a receiving order against it; 

(C) seeking liquidation, dissolution, winding-up, reorganization, compromise, arrangement, adjustment,
protection, moratorium, relief, stay of proceedings of creditors generally (or any class of creditors), deed of company arrangement or composition of it or its debts or any other relief under any federal, provincial or foreign Law now or hereafter
in effect relating to bankruptcy, winding-up, insolvency, reorganization, receivership, plans of arrangement or relief or protection of debtors or at common law or in equity; or 

  
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 (D) seeking the entry of an order for relief or the appointment of, or the taking of
possession by, a receiver, interim receiver, receiver/manager, sequestrator, conservator, custodian, administrator, trustee, liquidator, voluntary administrator, receiver and manager or other similar official for it or any substantial part of its
property, and such petition, application or proceeding continues undismissed, or unstayed and in effect, for a period of 60 days after the institution thereof; provided that if an order, decree or judgment is granted or entered (whether or
not entered or subject to appeal) against the Borrower or such Subsidiary thereunder in the interim, such grace period will cease to apply; provided, further, that if the Borrower or such Subsidiary files an answer admitting the
material allegations of a petition filed against it in any such proceeding, such grace period will cease to apply. 
 (vii) Any other event
occurs which, under the Laws of any applicable jurisdiction, has an effect equivalent to any of the events referred to in this Section 11.01(h). 

(i) Judgments. One or more judgments for the payment of money in an aggregate amount in excess of $300,000 (or the Equivalent Amount in
other currencies) shall be rendered against any Obligor or any of its Subsidiaries and the same shall remain undischarged for a period of 30 calendar days during which execution shall not be effectively stayed, or any action shall be legally taken
by a judgment creditor to attach or levy upon any assets of any Obligor to enforce any such judgment. 
 (j) ERISA and Pension Plans.
(i) An ERISA Event shall have occurred that, in the reasonable opinion of the Lender, when taken together with all other ERISA Events that have occurred, could reasonably be expected to result in liability of the Borrower and its Subsidiaries
in an aggregate amount exceeding (i) $300,000 in any year or (ii) $1,000,000 for all periods until repayment of all Obligations (other than Warrant Obligations). 

(k) Change of Control. A Change of Control shall have occurred. 

(l) Material Adverse Change. A Material Adverse Change shall have occurred since December 31, 2016. 

(m) Key Person Event. A Key Person Event shall have occurred. 

(n) Regulatory Matters, Etc. If any of the following occurs: (i) the FDA or any other Regulatory Authority (whether U.S. or non-U.S.) initiates enforcement action against, or issues a warning letter with respect to, any Obligor or any of its Subsidiaries, any Product or any manufacturing facilities for any Product that causes any Obligor
to discontinue or withdraw, or could reasonably be expected to cause any Obligor to discontinue or withdraw, Product Development and Commercialization Activities with respect to any Product, or otherwise causes a delay in the manufacture or sale of
any Product, which discontinuance or delay could reasonably be expected to last for more than 30 days, (ii) a recall of any Product that has generated or is expected to generate at least $2,000,000 in revenue for the Borrower and its
Subsidiaries over any period of twelve consecutive months or (iii) any Obligor enters into a settlement agreement with the FDA or any other Regulatory Authority that results in aggregate liability as to any single or related series of
transactions, incidents or conditions, in excess of $750,000. 
 (o) Impairment of Security, Etc. (i) Any Lien created by any of
the Security Documents shall at any time fail to constitute (x) a valid and perfected (to the extent required by the Security Documents) Lien on the applicable Collateral in favor of the Collateral Agent, for the benefit of the Secured Parties,
free and clear of all other Liens (other than Permitted Liens) or (y) a first priority Lien on the applicable Collateral in favor of the Collateral Agent, for the benefit of 

  
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the Secured Parties (except for Permitted Priority Liens), (ii) except for expiration in accordance with its terms, any of the Security Documents or any Guarantee of any of the Obligations
(including that contained in Section 13) shall for whatever reason cease to be in full force and effect, (iii) any Obligor shall, directly or indirectly, contest in any manner such effectiveness, validity, binding
nature, priority or enforceability of any such Lien, Loan Document or Guarantee, or (iv) any injunction, whether temporary or permanent, shall be rendered against any Obligor that prevents such Obligor from selling or manufacturing all or a
material portion of the Products. 
 11.02 Remedies. Upon the occurrence of any Event of Default, then, and in every such event (other than an Event
of Default described in Section 11.01(h)), and at any time thereafter during the continuance of such Event of Default, the Lender may, by notice to the Borrower, take either or both of the following actions, at the same or
different times: (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be immediately due and payable in whole (or in part, in which case any principal not
so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other Obligations, shall become
due and payable immediately (in the case of the Loans, at the Redemption Price therefor), without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Obligor; and in case of an Event of Default described
in Section 11.01(h), the Commitment shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other Obligations, shall automatically become due
and payable immediately (in the case of the Loans, at the Redemption Price therefor), without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Obligor. 

SECTION 12 
 THE
COLLATERAL AGENT 
 12.01 Authority. The Collateral Agent is authorized to take such actions and to exercise such powers as are delegated to the
Collateral Agent by the terms hereof or any other Loan Document, together with such actions and powers as are reasonably incidental thereto. The provisions of this Section 12 are solely for the benefit of the Collateral
Agent and the Lender, and no Obligor shall have rights as a third-party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term)
with reference to the Collateral Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to
create or reflect only an administrative relationship between contracting parties. 

  
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 12.02 Exculpatory Provisions. 

(a) The Collateral Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents, and
its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Collateral Agent: 
 (i) shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; 
 (ii) shall not
have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Collateral Agent is required to exercise;
provided that the Collateral Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Collateral Agent to liability or that is contrary to any Loan Document or applicable Law, including
for the avoidance of doubt any action that may be in violation of the automatic stay under any debtor relief Law; and 
 (iii) shall not,
except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Obligors or any of their Affiliates that is communicated to or
obtained by the Collateral Agent or any of its Affiliates in any capacity. 
 (b) The Collateral Agent shall not be liable for any action
taken or not taken by it in the absence of its own gross negligence, bad faith or willful misconduct as determined by a court of competent jurisdiction by final and non-appealable judgment. The Collateral
Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given to the Collateral Agent in writing by the Borrower. 

(c) The Collateral Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any
other Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Section 6 or elsewhere herein, other than to confirm receipt of items expressly required to be
delivered to the Collateral Agent. 
 12.03 Reliance by Collateral Agent. The Collateral Agent shall be entitled to rely upon, and shall not incur any
liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and
to have been signed, sent or otherwise authenticated by the proper Person. The Collateral Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any
liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of the Lender, the Collateral Agent may

  
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presume that such condition is satisfactory to the Lender unless the Collateral Agent shall have received notice to the contrary from the Lender prior to the making of such Loan. The Collateral
Agent may consult with legal counsel (who may be counsel for the Parent), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel,
accountants or experts. 
 12.04 Delegation of Duties. The Collateral Agent may perform any and all of its duties and exercise its rights and powers
hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Collateral Agent. The exculpatory provisions of this Section shall apply to any such sub-agent, and shall apply to their respective activities in connection with their activities as Collateral Agent. The Collateral Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that the Collateral Agent acted with gross negligence
or willful misconduct in the selection of such sub-agents. 
 12.05 Collateral Agent May File Proofs of Claim.
In case of the pendency of any Insolvency Proceeding or any other judicial proceeding relative to any Obligor, the Collateral Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by
declaration or otherwise and irrespective of whether the Collateral Agent shall have made any demand on any Obligor) shall be entitled and empowered (but not obligated), by intervention in such proceeding or otherwise: 

(a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other
Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lender and the Collateral Agent (including any claim for the reasonable compensation, expenses, disbursements
and advances of the Lender and the Collateral Agent and their respective agents and counsel and all other amounts due the Lender and the Collateral Agent) allowed in such judicial proceeding; and 

(b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by the
Lender to make such payments to the Collateral Agent and, in the event that the Collateral Agent shall consent to the making of such payments directly to the Lender, to pay to the Collateral Agent any amount due for the reasonable compensation,
expenses, disbursements and advances of the Collateral Agent and its agents and counsel, and any other amounts due the Collateral Agent. 

  
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 12.06 Collateral Matters. 

(a) Without limiting the provisions of Section 12.05, the Collateral Agent is authorized, at its option and in its
discretion to release any Lien on any property granted to or held by the Collateral Agent under any Loan Document (A) upon payment in full of all Obligations (other than contingent obligations); or (B) that is sold or otherwise disposed of
or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted under the Loan Documents. 

(b) The Collateral Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the
existence, value or collectability of the Collateral, the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Obligor in connection therewith, nor shall the Collateral Agent be
responsible or liable to the Lender for any failure to monitor or maintain any portion of the Collateral. 
 (c) The Collateral Agent is
authorized from time to time to take any action with respect to any Collateral or the Security Documents which may be necessary to perfect and maintain perfected the Liens on the Collateral granted pursuant to the Security Documents or protect and
preserve the Collateral Agent’s ability to enforce the Liens or realize upon the Collateral. 
 SECTION 13 

GUARANTEE 
 13.01 The Guarantee. The
Subsidiary Guarantors hereby jointly and severally Guarantee to the Secured Parties, the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of the principal of and interest on the Loans, all fees and other
amounts and Obligations from time to time owing to the Secured Parties by the Borrower under this Agreement or under any other Loan Document and by any other Obligor under any of the Loan Documents, in each case strictly in accordance with the terms
thereof (such obligations being herein collectively called the “Guaranteed Obligations”). The Subsidiary Guarantors hereby further jointly and severally agree that if the Borrower shall fail to pay in full when due (whether
at stated maturity, by acceleration or otherwise) any of the Guaranteed Obligations, the Subsidiary Guarantors will promptly pay the same, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal
of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal. 

13.02 Obligations Unconditional. The obligations of the Subsidiary Guarantors under Section 13.01 are absolute and
unconditional, joint and several, irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the Borrower under this Agreement or any other agreement or instrument referred to herein, or any substitution,
release or exchange of any other Guarantee of or security for any of the Guaranteed Obligations, and, to the fullest extent permitted by Law, irrespective of any other circumstance whatsoever that might otherwise constitute a legal or equitable
discharge or defense of a surety or guarantor (other than payment in full in cash of the 

  
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Obligations (excluding contingent obligations as to which no claims have been made)), it being the intent of this Section 13.02 that the obligations of the Subsidiary
Guarantors hereunder shall be absolute and unconditional, joint and several, under any and all circumstances. Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not alter or
impair the liability of the Subsidiary Guarantors hereunder, which shall remain absolute and unconditional as described above: 
 (a) at any
time or from time to time, without notice to the Subsidiary Guarantors, the time for any performance of or compliance with any of the Guaranteed Obligations shall be extended, or such performance or compliance shall be waived; 

(b) any of the acts mentioned in any of the provisions of this Agreement or any other agreement or instrument referred to herein shall be done
or omitted; 
 (c) the maturity of any of the Guaranteed Obligations shall be accelerated, or any of the Guaranteed Obligations shall be
modified, supplemented or amended in any respect, or any right under this Agreement or any other Loan Document shall be waived or any other Guarantee of any of the Guaranteed Obligations or any security therefor shall be released or exchanged in
whole or in part or otherwise dealt with; or 
 (d) any lien or security interest granted to, or in favor of, the Secured Parties as security
for any of the Guaranteed Obligations shall fail to be perfected. 
 The Subsidiary Guarantors hereby expressly waive diligence,
presentment, demand of payment, protest and all notices whatsoever, and any requirement that any Secured Party exhaust any right, power or remedy or proceed against the Borrower under this Agreement or any other agreement or instrument referred to
herein, or against any other Person under any other Guarantee of, or security for, any of the Guaranteed Obligations. 
 13.03 Reinstatement. The
obligations of the Subsidiary Guarantors under this Section 13 shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of the Borrower in respect of the Guaranteed Obligations
is rescinded or must be otherwise restored by any holder of any of the Guaranteed Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise, and the Subsidiary Guarantors jointly and severally agree that they
will indemnify the Secured Parties on demand for all reasonable costs and expenses (including fees of counsel) incurred by such Persons in connection with such rescission or restoration, including any such costs and expenses incurred in defending
against any claim alleging that such payment constituted a preference, fraudulent transfer or similar payment under any bankruptcy, insolvency or similar Law. 

13.04 Subrogation. The Subsidiary Guarantors hereby jointly and severally agree that, until the payment and satisfaction in full in cash of all
Guaranteed Obligations (other than contingent obligations as to which no claims have been asserted) and the expiration and termination of the Commitments, they shall not exercise any right or remedy arising by reason of any performance by them of
their Guarantee in Section 13.01, whether by subrogation or otherwise, against the Borrower or any other guarantor of any of the Guaranteed Obligations or any security for any of the Guaranteed Obligations. 

  
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 13.05 Remedies. The Subsidiary Guarantors jointly and severally agree that, as between the Subsidiary
Guarantors, on one hand, and the Secured Parties, on the other hand, the obligations of the Borrower under this Agreement and under the other Loan Documents may be declared to be forthwith due and payable as provided in
Section 11 (and shall be deemed to have become automatically due and payable in the circumstances provided in Section 11) for purposes of Section 13.01 notwithstanding any
stay, injunction or other prohibition preventing such declaration (or such obligations from becoming automatically due and payable) as against the Borrower and that, in the event of such declaration (or such obligations being deemed to have become
automatically due and payable), such obligations (whether or not due and payable by the Borrower) shall forthwith become due and payable by the Subsidiary Guarantors for purposes of Section 13.01. 

13.06 Instrument for the Payment of Money. Each Subsidiary Guarantor hereby acknowledges that the Guarantee in this Section 13
constitutes an instrument for the payment of money, and consents and agrees that the Secured Parties, at their sole option, in the event of a dispute by such Subsidiary Guarantor in the payment of any moneys due hereunder, shall have the right to
proceed by motion for summary judgment in lieu of complaint pursuant to N.Y. Civ. Prac. L&R § 3213. 
 13.07 Continuing Guarantee. The
Guarantee in this Section 13 is a continuing Guarantee, and shall apply to all Guaranteed Obligations whenever arising. 
 13.08
Rights of Contribution. The Subsidiary Guarantors hereby agree, as between themselves, that if any Subsidiary Guarantor shall become an Excess Funding Guarantor (as defined below) by reason of the payment by such Subsidiary Guarantor of any
Guaranteed Obligations, each other Subsidiary Guarantor shall, on demand of such Excess Funding Guarantor (but subject to the next sentence), pay to such Excess Funding Guarantor an amount equal to such Subsidiary Guarantor’s Fair Share (as
defined below and determined, for this purpose, without reference to the properties, debts and liabilities of such Excess Funding Guarantor) of the Excess Payment (as defined below) in respect of such Guaranteed Obligations. The payment obligation
of a Subsidiary Guarantor to any Excess Funding Guarantor under this Section 13.08 shall be subordinate and subject in right of payment to the prior payment in full of the obligations of such Subsidiary Guarantor under the
other provisions of this Section 13 and such Excess Funding Guarantor shall not exercise any right or remedy with respect to such excess until payment and satisfaction in full of all of such obligations. 

  
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 For purposes of this Section 13.08, (i) “Excess Funding
Guarantor” means, in respect of any Guaranteed Obligations, a Subsidiary Guarantor that has paid an amount in excess of its Fair Share of such Guaranteed Obligations, (ii) “Excess Payment” means, in respect of
any Guaranteed Obligations, the amount paid by an Excess Funding Guarantor in excess of its Fair Share of such Guaranteed Obligations and (iii) “Fair Share” means, for any Subsidiary Guarantor, the ratio (expressed as a
percentage) of (x) the amount by which the aggregate present fair saleable value of all properties of such Subsidiary Guarantor (excluding any shares of Equity Interest of any other Subsidiary Guarantor) exceeds the amount of all the debts and
liabilities of such Subsidiary Guarantor (including contingent, subordinated, unmatured and unliquidated liabilities, but excluding the obligations of such Subsidiary Guarantor hereunder and any obligations of any other Subsidiary Guarantor that
have been Guaranteed by such Subsidiary Guarantor) to (y) the amount by which the aggregate fair saleable value of all properties of all of the Subsidiary Guarantors exceeds the amount of all the debts and liabilities (including contingent,
subordinated, unmatured and unliquidated liabilities, but excluding the obligations of the Borrower and the Subsidiary Guarantors hereunder and under the other Loan Documents) of all of the Subsidiary Guarantors, determined (A) with respect to
any Subsidiary Guarantor that is a party hereto on the Closing Date, as of the Closing Date, and (B) with respect to any other Subsidiary Guarantor, as of the date such Subsidiary Guarantor becomes a Subsidiary Guarantor hereunder. 

13.09 General Limitation on Guarantee Obligations. In any action or proceeding involving any provincial, territorial or state corporate Law, or any
state or federal bankruptcy, insolvency, reorganization or other Law affecting the rights of creditors generally, if the obligations of any Subsidiary Guarantor under Section 13.01 would otherwise, taking into account the
provisions of Section 13.08, be held or determined to be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under
Section 13.01, then, notwithstanding any other provision hereof to the contrary, the amount of such liability shall, without any further action by such Subsidiary Guarantor, the Lender or any other Person, be automatically
limited and reduced to the highest amount that is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding. 

SECTION 14 

MISCELLANEOUS 
 14.01 No Waiver. No
failure on the part of the Collateral Agent or the Lender to exercise and no delay in exercising, and no course of dealing with respect to, any right, power or privilege under any Loan Document shall operate as a waiver thereof, nor shall any single
or partial exercise of any right, power or privilege under any Loan Document preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The remedies provided herein are cumulative and not exclusive of any
remedies provided by Law. 

  
 81 

 14.02 Notices. All notices, requests, instructions, directions and other communications provided for
herein (including any modifications of, or waivers, requests or consents under, this Agreement) shall be given or made in writing (including by telecopy) delivered, if to the Borrower, another Obligor, or the Lender, to its address specified on the
signature pages hereto or its Guarantee Assumption Agreement, as the case may be, or at such other address as shall be designated by such party in a written notice to the other parties. Except as otherwise provided in this Agreement, all such
communications shall be deemed to have been duly given upon receipt of a legible copy thereof, in each case given or addressed as aforesaid. All such communications provided for herein by telecopy shall be confirmed in writing promptly after the
delivery of such communication (it being understood that non-receipt of written confirmation of such communication shall not invalidate such communication). 

14.03 Expenses, Indemnification, Etc. 
 (a)
Expenses. The Borrower agrees to pay or reimburse (i) the Collateral Agent and the Lender for all of their reasonable and documented out of pocket costs and expenses (including the reasonable and documented fees and expenses of
Morrison & Foerster LLP, special counsel to the Collateral Agent and the Lender, and any sales, goods and services or other similar taxes applicable thereto, and printing, reproduction, document delivery, communication and travel costs) in
connection with (x) the negotiation, preparation, execution and delivery of this Agreement and the other Loan Documents and the making of the Loans (exclusive of post-closing costs), (y) post-closing costs and (z) the negotiation or
preparation of any modification, supplement or waiver of any of the terms of this Agreement or any of the other Loan Documents (whether or not consummated) and (ii) the Collateral Agent and the Lender for all of their reasonable and documented
out of pocket costs and expenses (including the reasonable and documented fees and expenses of legal counsel) in connection with any enforcement or collection proceedings resulting from the occurrence of an Event of Default. Notwithstanding the
foregoing, Borrower shall have no obligation to pay more than $125,000 in the aggregate pursuant to clauses (i)(x) and (i)(y) of this Section 14.03(a). 

(b) Indemnification. The Borrower hereby indemnifies the Collateral Agent, the Lender, and their respective Affiliates, directors,
officers, employees, attorneys, agents, advisors and controlling parties (each, an “Indemnified Party”) from and against, and agrees to hold them harmless against, any and all Claims and Losses of any kind (including
reasonable fees and disbursements of counsel), joint or several, that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of or in connection with or relating to any investigation, litigation or
proceeding or the preparation of any defense with respect thereto arising out of or in connection with or relating to this Agreement or any of the other Loan Documents or the Transactions or any use made or proposed to be made with the proceeds of
the Loans, whether or not such investigation, litigation or proceeding is brought by the Borrower, any of its shareholders or creditors, an Indemnified Party or any other Person, or an Indemnified Party is otherwise a party thereto, and whether or
not any of the conditions precedent set forth in Section 6 are satisfied or the other transactions contemplated by this Agreement are consummated, except to the extent such Claim or Loss is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence, bad faith or willful misconduct. No Obligor shall assert any claim against any
Indemnified Party, on any theory of liability, for consequential, indirect, special or punitive damages arising out of or otherwise relating to this Agreement or any of the other Loan Documents or any of the

  
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Transactions or the actual or proposed use of the proceeds of the Loans. The Borrower, its Subsidiaries and Affiliates and their respective directors, officers, employees, attorneys, agents,
advisors and controlling parties are each sometimes referred to in this Agreement as a “Borrower Party.” No Lender shall assert any claim against any Borrower Party, on any theory of liability, for consequential, indirect,
special or punitive damages arising out of or otherwise relating to this Agreement or any of the other Loan Documents or the Transactions or the actual or proposed use of the proceeds of the Loans. 

14.04 Amendments, Etc. The provisions of each Loan Document may from time to time be amended, modified or waived, if such amendment, modification or
waiver is in writing and consented to by the Required Lenders and the Borrower; provided, however, that the consent of all the Lenders shall be required to: 

(a) amend this Section 14.04; 

(b) amend the definition of Required Lenders; 

(c) postpone or delay any date fixed for, or reduce or waive, any scheduled installment of principal or any payment of interest, fees or other
amounts (other than principal) due to the Lenders; 
 (d) reduce the principal of, or the rate of interest specified herein (it being agreed
that waiver of the default interest shall only require the consent of Required Lenders) or the amount of interest payable in cash specified herein on any Loan, or of any fees or other amounts payable hereunder or under any other Loan Document; 

(e) amend or waive compliance with the conditions precedent to the obligations of Lenders to make Loans in
Section 6.02; 
 (f) amend the definition of “Commitments”; and 

(g) discharge the Borrower or its Subsidiaries from its respective payment Obligations under the Loan Documents, or release all or
substantially all of the Collateral, except as otherwise may be provided in this Agreement or the other Loan Documents. 
 No failure or delay on the part
of the Lender in exercising any power or right under any Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any other or further exercise thereof or the exercise of any other
power or right. No notice to or demand on any Loan Party in any case shall entitle it to any notice or demand in similar or other circumstances. No waiver or approval by the Lender under any Loan Document shall, except as may be otherwise stated in
such waiver or approval, be applicable to subsequent transactions. No waiver or approval hereunder shall require any similar or dissimilar waiver or approval thereafter to be granted hereunder. 

 

  
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 14.05 Successors and Assigns. 

(a) General. The provisions of this Agreement and the other Loan Documents shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder or under any of the other Loan Documents without the prior written consent
of the Lender. The Lender may assign or otherwise transfer any of its rights or obligations hereunder or under any of the other Loan Documents (i) to an assignee in accordance with the provisions of Section 14.05(b),
(ii) by way of participation in accordance with the provisions of Section 14.05(e) or (iii) by way of pledge or assignment of a security interest subject to the restrictions of
Section 14.05(f). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the
extent provided in Section 14.05(e) and, to the extent expressly contemplated hereby, the Indemnified Parties) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b) Assignments by Lender. The Lender may at any time assign to one or more Eligible Transferees (or, if an Event of Default has
occurred and is continuing, to any Person) all or a portion of its rights and obligations under this Agreement (including all or a portion of the Commitment and the Loans at the time owing to it) and the other Loan Documents; provided that no
such assignment shall be made to the Borrower, an Affiliate of the Borrower, or any employees or directors of the Borrower at any time; provided that the assigning Lender shall provide a notice of such assignment promptly after such
assignment. Subject to the recording thereof by the Lender pursuant to Section 14.05(d), from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this
Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of the Lender under this Agreement and the other Loan Documents, and correspondingly the assigning Lender shall, to the extent
of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the Lender’s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto) and the other Loan Documents but shall continue to be entitled to the benefits of Section 5 and Section 14.03. Any assignment or transfer by the Lender of
rights or obligations under this Agreement that does not comply with this Section 14.05(b) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in
accordance with Section 14.05(e). Notwithstanding the foregoing, the Lender may not assign its Commitment to make the Delayed Draw Loan before December 22, 2017. 

(c) Amendments to Loan Documents. Each of the Collateral Agent, the Lender and the Obligors agrees to enter into such amendments to the
Loan Documents, and such additional Security Documents and other instruments and agreements, in each case in form and substance reasonably acceptable to the Collateral Agent, the Lender and the Obligors, as shall reasonably be necessary to implement
and give effect to any assignment made under this Section 14.05. 
 (d) Register. The Lender, acting solely
for this purpose as an agent of the Borrower, shall maintain at one of its offices a register for the recordation of the name and address of any assignee of the Lender and the Commitment and outstanding principal amount of the Loans owing thereto
(the “Register”). The entries in the Register shall be conclusive, absent manifest error, and the Borrower shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as the “Lender”
hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower, at any reasonable time and from time to time upon reasonable prior notice. 

 

  
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 (e) Participations. The Lender may at any time, without the consent of, or notice to,
the Borrower, sell participations to any Person which would constitute and Eligible Assignee (other than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in
all or a portion of the Lender’s rights and/or obligations under this Agreement (including all or a portion of the Commitment and/or the Loans owing to it); provided that (i) the Lender’s obligations under this Agreement shall
remain unchanged, (ii) the Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower shall continue to deal solely and directly with the Lender in connection
therewith. Any agreement or instrument pursuant to which the Lender sells such a participation shall provide that the Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision
of this Agreement; provided that such agreement or instrument may provide that the Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver that would (i) increase or extend the term of the
Lender’s Commitment, (ii) extend the date fixed for the payment of principal of or interest on the Loans or any portion of any fee hereunder payable to the Participant, (iii) reduce the amount of any such payment of principal, or
(iv) reduce the rate at which interest is payable thereon to a level below the rate at which the Participant is entitled to receive such interest (other than with respect to default interest). Subject to
Section 14.05(f), the Borrower agrees that each Participant shall be entitled to the benefits of Section 5 to the same extent as if it were the Lender and had acquired its interest by assignment
pursuant to Section 14.05(b). To the extent permitted by Law, each Participant also shall be entitled to the benefits of Section 4.03(a) as though it were the Lender. Each Lender that sells a
participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and
stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any
portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person
except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States
Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes
of this Agreement notwithstanding any notice to the contrary. 
 (f) Limitations on Rights of Participants. A Participant shall not be
entitled to receive any greater payment under Section 5.01 or 5.03 than the Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation
to such Participant is made with the Borrower’s prior written consent. 
 (g) Certain Pledges. The Lender may at any time pledge
or assign a security interest in all or any portion of its rights under this Agreement and any other Loan Document to secure obligations of the Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank;
provided that no such pledge or assignment shall release the Lender from any of their obligations hereunder or substitute any such pledgee or assignee for the Lender as a party hereto. 

  
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 14.06 Survival. The obligations of the Borrower under Sections 5.01, 5.02, 5.03,
14.03, 14.05, 14.09, 14.10, 14.11, 14.12, 14.13, 14.14 and 14.16, and the obligations of the Subsidiary Guarantors under Section 13 (solely to the extent
Guaranteeing any of the obligations under the foregoing Sections) shall survive the repayment of the Obligations and the termination of the Commitment and, in the case of the Lender’s assignment of any interest in the Commitment or the Loans
hereunder, shall survive, in the case of any event or circumstance that occurred prior to the effective date of such assignment, the making of such assignment, notwithstanding that the Lender may cease to be “Lender” hereunder. In
addition, each representation and warranty made, or deemed to be made by a Borrowing Notice, herein or pursuant hereto shall survive the making of such representation and warranty. 

14.07 Captions. The table of contents and captions and section headings appearing herein are included solely for convenience of reference and are not
intended to affect the interpretation of any provision of this Agreement. 
 14.08 Counterparts. This Agreement may be executed in any number of
counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. Delivery of an executed signature page of this Agreement by facsimile
transmission or electronic transmission (in PDF format) shall be effective as delivery of a manually executed counterpart hereof. 
 14.09 Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be governed by, and construed in accordance with, the Law of the State of New York, without regard to principles of conflicts of laws that would result in the
application of the laws of any other jurisdiction; provided that Section 5-1401 of the New York General Obligations Law shall apply. 

 

	14.10	 Jurisdiction, Service of Process and Venue. 

(a) Submission to Jurisdiction. Each Obligor agrees that any suit, action or proceeding with respect to this Agreement or any other Loan
Document to which it is a party or any judgment entered by any court in respect thereof may be brought initially in the federal or state courts in New York, New York or in the courts of its own corporate domicile and irrevocably submits to the non-exclusive jurisdiction of each such court for the purpose of any such suit, action, proceeding or judgment. This Section 14.10(a) is for the benefit of the Lender only and, as a result,
the Lender shall not be prevented from taking proceedings in any other courts with jurisdiction. To the extent allowed by any Law, the Lender may take concurrent proceedings in any number of jurisdictions. 

  
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 (b) Alternative Process. Nothing herein shall in any way be deemed to limit the
ability of the Lender to serve any process or summons in any other manner permitted by a Law. 
 (c) Waiver of Venue, Etc. Each
Obligor irrevocably waives to the fullest extent permitted by Law any objection that it may now or hereafter have to the laying of the venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document
and hereby further irrevocably waives to the fullest extent permitted by Law any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. A final judgment (in respect of which time for all
appeals has elapsed) in any such suit, action or proceeding shall be conclusive and may be enforced in any court to the jurisdiction of which such Obligor is or may be subject, by suit upon judgment. 

14.11 Waiver of Jury Trial. EACH OBLIGOR AND THE LENDER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT
TO TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

14.12 Waiver of Immunity. To the extent that any Obligor may be or become entitled to claim for itself or its property or revenues any immunity on the
ground of sovereignty or the like from suit, court jurisdiction, attachment prior to judgment, attachment in aid of execution of a judgment or execution of a judgment, and to the extent that in any such jurisdiction there may be attributed such an
immunity (whether or not claimed), such Obligor hereby irrevocably agrees not to so claim and hereby irrevocably waives such immunity with respect to its obligations under this Agreement and the other Loan Documents. 

14.13 Entire Agreement. This Agreement and the other Loan Documents constitute the entire agreement among the parties with respect to the subject
matter hereof and thereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof, including any confidentiality (or similar) agreements. EACH OBLIGOR ACKNOWLEDGES, REPRESENTS AND
WARRANTS THAT IN DECIDING TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS OR IN TAKING OR NOT TAKING ANY ACTION HEREUNDER OR THEREUNDER, IT HAS NOT RELIED, AND WILL NOT RELY, ON ANY STATEMENT, REPRESENTATION, WARRANTY, COVENANT, AGREEMENT
OR UNDERSTANDING, WHETHER WRITTEN OR ORAL, OF OR WITH THE LENDER OTHER THAN THOSE EXPRESSLY SET FORTH IN THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS. 

  
 87 

 14.14 Severability. If any provision hereof is found by a court to be invalid or unenforceable, to
the fullest extent permitted by any Law the parties agree that such invalidity or unenforceability shall not impair the validity or enforceability of any other provision hereof. 

14.15 No Fiduciary Relationship. The Borrower acknowledges that the Lender has no fiduciary relationship with, or fiduciary duty to, the Borrower
arising out of or in connection with this Agreement or the other Loan Documents, and the relationship between the Lender and the Borrower is solely that of creditor and debtor. This Agreement and the other Loan Documents do not create a joint
venture among the parties. 
 14.16 Confidentiality. The Collateral Agent agrees to keep confidential all
non-public information provided to them by any Obligor pursuant to this Agreement in accordance with its customary procedures for handling its own confidential information and use such information solely for
purposes of the lending activities of the Lender under the Loan Documents; provided that nothing herein shall prevent the Lender from disclosing any such information (i) to the Lender, any Affiliate of the Lender or any Eligible
Transferee or other assignee permitted under Section 14.05(b), (ii) subject to an agreement to comply with the provisions of this Section, to any actual or prospective direct or indirect counterparty to any Hedging
Agreement (or any professional advisor to such counterparty), (iii) to its employees, officers, directors, agents, attorneys, accountants, trustees and other professional advisors or those of any of its affiliates who have a need to know such
information (collectively, its “Related Parties”); provided that, to the extent any such confidential information is provided by the Collateral Agent or any Lender to a Related Party, the Collateral Agent or such
Lender, as the case may be, shall remain liable for breaches of confidentiality by any such Related Party to which it has provided confidential information, as applicable, shall be liable for breaches of confidentiality by its Related Parties
(iv) upon the request or demand of any Governmental Authority or any regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association of
Insurance Commissioners), (v) in response to any order of any court or other Governmental Authority or as may otherwise be required pursuant to any Law, (vi) if required to do so in connection with any litigation or similar proceeding,
(vii) that has been publicly disclosed (other than as a result of a disclosure in violation of this Section 14.16), (viii) to the National Association of Insurance Commissioners or any similar organization or any
nationally recognized rating agency that requires access to information about the Lender’s investment portfolio in connection with ratings issued with respect to the Lender, (ix) in connection with the exercise of any remedy hereunder or
under any other Loan Document, (x) on a confidential basis to (A) any rating agency in connection with rating the Borrower or its Subsidiaries or the Loan or (B) the CUSIP Service Bureau or any similar agency in connection with the
issuance and monitoring of CUSIP numbers of other market identifiers with respect to the Loan or (xi) to any other party hereto; provided, further, that, (1) no Lender shall use any Obligor’s non-public information for the purposes of engaging in hedging or short-selling activities of the Borrower’s Equity Interests and (2) unless specifically prohibited by applicable Law or court order, the
Lender shall notify the Borrower of any request by any Governmental Authority or representative thereof (other than any such request in connection with any examination of the financial condition or other routine examination of the Lender by such
Governmental Authority) for disclosure of any such non-public information prior to disclosure of such information. 

  
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 14.17 Right of Setoff. If an Event of Default shall have occurred and be continuing, the Lender and
each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever
currency) at any time held and other obligations (in whatever currency) at any time owing by the Lender or any such Affiliate to or for the credit or the account of the Borrower or any other Obligor against any and all of the Obligations now or
hereafter existing under this Agreement or any other Loan Document to the Lender or its Affiliates, irrespective of whether or not the Lender or Affiliate shall have made any demand under this Agreement or any other Loan Document and although such
Obligations of the Borrower or such Obligor may be contingent or unmatured or are owed to an Affiliate of the Lender. The rights of the Lender and its Affiliates under this Section are in addition to other rights and remedies (including other rights
of setoff) that the Lender and Affiliates may have. The Lender agrees to notify the Borrower promptly after any such setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff and
application. 
 14.18 Judgment Currency. 

(a) If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder in US Dollars into another
currency, the parties hereto agree, to the fullest extent permitted by Law, that the rate of exchange used shall be that at which, in accordance with normal banking procedures, the Lender could purchase US Dollars with such other currency at the
buying spot rate of exchange in the New York foreign exchange market on the Business Day immediately preceding that on which any such judgment, or any relevant part thereof, is given. 

(b) The obligations of the Obligors in respect of any sum due to the Lender hereunder and under the other Loan Documents shall, notwithstanding
any judgment in a currency other than US Dollars, be discharged only to the extent that on the Business Day following receipt by the Lender of any sum adjudged to be so due in such other currency the Lender may, in accordance with normal banking
procedures, purchase US Dollars with such other currency. If the amount of US Dollars so purchased is less than the sum originally due to the Lender in US Dollars, the Borrower agrees, to the fullest extent that it may effectively do so, as a
separate obligation and notwithstanding any such judgment, to indemnify the Lender against such loss. If the amount of US Dollars so purchased exceeds the sum originally due to the Lender in US Dollars, the Lender shall remit such excess to the
Borrower. 
 14.19 USA PATRIOT Act. The Lender hereby notifies the Obligors that pursuant to the requirements of the USA PATRIOT Act (Title III of
Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), that it is required to obtain, verify and record information that identifies the Obligors, which information
includes the name and address of each Obligor and other information that will allow such Person to identify such Obligor in accordance with the Act. 

  
 89 

 14.20 Acknowledgement and Consent to Bail-In of EEA Financial
Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution
arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may
be payable to it by any party hereto that is an EEA Financial Institution; and 
 (b) the effects of any
Bail-in Action on any such liability, including, if applicable: 
 (i) a reduction in full or in part
or cancellation of any such liability; 
 (ii) a conversion of all, or a portion of, such liability into shares or other instruments of
ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights
with respect to any such liability under this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability
in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 
 [Signature Pages Follow] 

  
 90 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the day and year first above written. 
  

			
	BORROWER:
	
	SONENDO, INC.
		
	By	 	/s/ John Glenn
		 	Name: John Glen
		 	Title: Chief Financial Officer
	
	Address for Notices:
	26051 Merit Circle, Suite 102
	Laguna Hills, CA 92653

  
 S-1 

 
			
	SUBSIDIARY GUARANTOR:
	
	PIPSTEK, LLC
		
	By	 	/s/ John Glenn
		 	Name: John Glen
		 	Title: Chief Financial Officer and Secretary
	
	Address for Notices:
	26051 Merit Circle, Suite 102
	Laguna Hills, CA 92653

  
 S-1 

			
	LENDER AND COLLATERAL AGENT:
	
	PERCEPTIVE CREDIT HOLDINGS, LP
	
	By Perceptive Credit Opportunities GP, LLC, its general partner
		
	By:	 	/s/ Sandeep Dixit
		 	Name: Sandeep Dixit
		 	Title: Chief Credit Officer
		
	By:	 	/s/ Sam Chawla
		 	Name: Sam Chawla
		 	Title: Portfolio Manager
	
	 Perceptive Credit Holdings, LP
 c/o
Perceptive Advisors LLC
 51 Astor place, 10th floor

	New York, NY 10003
	Attn: Sandeep Dixit
	Email: [Redacted]

  
 S-2 

 Schedule 1 

to Credit Agreement 

COMMITMENTS 
  

									
	 Lender
	  	Commitment	 	  	Proportionate
Share	 
	 Perceptive Credit Holdings, LP
	  	$	20,000,000	 	  	 	100	% 
	 TOTAL
	  	$	20,000,000	 	  	 	100	%

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