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invitae-projectcaymanxre

ACTIVE/111903608.1              REGISTRATION RIGHTS AGREEMENT    This Registration Rights Agreement (this “Agreement”) is made and entered into as of  September 13, 2021 (the “Effective Date”) by and among Invitae Corporation, a Delaware  corporation (the “Company”), and certain securityholders of Ciitizen Corporation, a Delaware  corporation (“Ciitizen”) listed on Exhibit A hereto (each such securityholder, as well as any  permitted transferee of Registrable Securities (as defined below) hereunder, in each case to the  extent holding Registrable Securities, a “Holder” and collectively, the “Holders”). Terms used  but not otherwise defined herein shall have the meaning ascribed to such terms in the Merger  Agreement (as defined below).     RECITALS    WHEREAS, the Company, Ciitizen, Cayman Merger Sub A Inc., a Delaware corporation  and wholly owned subsidiary of the Company (“Merger Sub A”), Cayman Merger Sub B LLC, a  Delaware limited liability company and wholly owned subsidiary of the Company (“Merger Sub  B”), and Fortis Advisors LLC as the Holders’ Representative (as defined therein), have entered  into that certain Agreement and Plan of Merger dated as of September 6, 2021 (the “Merger  Agreement”), pursuant to which (i) Merger Sub A will be merged with and into Ciitizen, and  Ciitizen shall continue as the surviving entity and wholly owned subsidiary of the Company (the  “Reverse Merger”) and (ii) promptly thereafter as part of the same overall transaction, and in all  cases on the Closing Date, Ciitizen will be merged with and into Merger Sub B, and Merger Sub  B shall continue as the surviving entity and wholly owned subsidiary of the Company (the  “Forward Merger” and, together with the Reverse Merger, the “Mergers”);  WHEREAS, in connection with the Mergers and pursuant to the Merger Agreement, the  Company issued to the Holders at the Closing shares of the Company’s common stock, par value  $0.0001 per share, identified on Exhibit A hereto as Stock Consideration Shares (the “Shares”)  pursuant to the Merger Agreement; and    WHEREAS, in connection with the consummation of the transactions contemplated by the  Merger Agreement, the Company agreed to grant certain registration rights to the Holders as set  forth in this Agreement.    NOW, THEREFORE, in consideration of the mutual covenants and agreements contained  herein, the parties agree as follows:    ARTICLE I  DEFINITIONS    Section 1.1 Definitions. For purposes of this Agreement, the following terms and  variations thereof have the meanings set forth below:    “Affiliate” means, with respect to any person, any other person that, directly or  indirectly, controls, or is controlled by, or is under common control with, such person. For this  purpose: (a) “control” (including, with its correlative meanings, “controlled by” and “under  common control with”) means the possession, directly or indirectly, of the power to direct or cause  

 

ACTIVE/111903608.1        2      the direction of management or policies of a Person, whether through the ownership of securities  or partnership or other ownership interests, by contract or otherwise; and (b) “person” means any  natural person, corporation, limited liability company, partnership, association, trust or other  entity.    “Agreement” has the meaning set forth in the preamble.    “Business Day” means any day, other than a Saturday, Sunday or one on which  banks are authorized by law to be closed in New York, New York.    “Ciitizen” has the meaning set forth in the preamble.    “Company” has the meaning set forth in the preamble.    “Company Indemnitee” has the meaning set forth in Section 4.1(b).    “Effective Date” has the meaning set forth in the preamble.    “Effectiveness Period” has the meaning set forth in Section 3.1(b).    “Exchange Act” means the Securities Exchange Act of 1934.    “Grace Period” has the meaning set forth in Section 3.2(h).    “Holder” has the meaning set forth in the preamble.     “Holder Indemnitee” has the meaning set forth in Section 4.1(a).    “Indemnified Party” has the meaning set forth in Section 4.1(c).    “Indemnifying Party” has the meaning set forth in Section 4.1(c).    “Merger Agreement” has the meaning set forth in the recitals.    “Registrable Securities” means, at any time, the Shares issued to the Holders  pursuant to the Merger Agreement and any securities issued or issuable upon any stock split,  dividend or other distribution, recapitalization or similar event with respect to such securities;  provided, however, that Registrable Securities shall cease to be Registrable Securities with respect  to a particular Holder when (i) such securities have been disposed of in accordance with the  Registration Statement or pursuant to Rule 144; (ii) such securities may be sold pursuant to Rule  144 without any manner-of-sale restrictions or volume limitations; or (iii) such securities cease to  be outstanding.    “Registration Expenses” means all expenses incurred by the Company in effecting  the registration pursuant to this Agreement, including all registration and filing fees, printing  expenses, fees and disbursements of counsel for the Company, “blue sky” fees and expenses, and  

 

ACTIVE/111903608.1        3      expenses of the Company’s independent registered public accounting firm in connection with any  regular or special reviews or audits incident to or required by any such registration, but shall not  include Selling Expenses.    “Registration Statement” has the meaning set forth in Section 3.1.    “Rule 144” means Rule 144 under the Securities Act or any successor or other  similar rule, regulation or interpretation of the SEC that may at any time permit the sale of  Registrable Securities to the public without registration.    “Rule 405” means Rule 405 under the Securities Act or any successor or other  similar rule.    “Rule 415” means Rule 415 under the Securities Act or any successor or other  similar rule providing for offering securities on a continuous or delayed basis.    “Rule 424” means Rule 424 under the Securities Act or any successor or other  similar rule.    “Shares” has the meaning set forth in the recitals.    “SEC” means the Securities and Exchange Commission.    “Securities Act” means the Securities Act of 1933.    “Selling Expenses” means all discounts, selling commissions, fees of selling  brokers, dealer managers and similar securities industry professionals and stock transfer taxes  applicable to the sale of Registrable Securities and fees and disbursements of counsel for any  Holder (other than the fees and disbursements of counsel for the Company included in Registration  Expenses).    “Transfer” means, directly or indirectly, to sell, transfer, assign, pledge, encumber,  hypothecate or similarly dispose of (by merger, testamentary disposition, operation of law or  otherwise), either voluntarily or involuntarily, or to enter into any contract, option or other  arrangement or understanding with respect to the sale, transfer, assignment, pledge, encumbrance,  hypothecation or similar disposition of (by merger, testamentary disposition, operation of law or  otherwise) any Shares.    “Violation” has the meaning set forth in Section 4.1(a).    ARTICLE II  TRANSFER RESTRICTIONS    Section 2.1 General Transfer Restrictions. The right of any Holder to Transfer any  Shares held by it is subject to the restrictions set forth below.    

 

ACTIVE/111903608.1        4      (a) Each Holder acknowledges that the Shares have not been registered under  the Securities Act and may not be Transferred except pursuant to an effective registration statement  under the Securities Act or pursuant to an exemption from registration under the Securities Act.  Each Holder covenants that the Shares will only be disposed of pursuant to an effective registration  statement under, and in compliance with the requirements of, the Securities Act or pursuant to an  available exemption from the registration requirements of the Securities Act, and in compliance  with any applicable state and foreign securities laws.  In connection with any Transfer of the Shares  other than a Transfer (i) pursuant to an effective registration statement, (ii) to the Company, or (iii)  pursuant to Rule 144, the Company may require the Holder to provide to the Company an opinion  of counsel selected by the Holder and reasonably acceptable to the Company, the form and  substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such  Transfer does not require registration under the Securities Act.   (b) Each Holder agrees to the affixing, so long as is required by this Section  2.1, of the following legend on any certificate or book-entry position evidencing any of the Shares:  THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER  THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR  ANY STATE SECURITIES LAWS AND MAY NOT BE  TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION  OR AN EXEMPTION THEREFROM UNDER THE ACT AND THE  RULES AND REGULATIONS THEREUNDER AND APPLICABLE  STATE SECURITIES LAWS.  Certificates or book-entry positions evidencing the Shares shall not be required to contain such  legend or any other legend, and the Company shall remove or direct its transfer agent to remove  any such legend or any other legend, (i) following any sale of such Shares pursuant to an effective  registration statement (including the Registration Statement described in Section 3.1) covering the  resale of the Shares, (ii) following any sale of such Shares pursuant to Rule 144 or if the Shares  are transferrable by a person who is not an Affiliate of the Company or the applicable Holder  pursuant to Rule 144 without any volume or manner of sale restrictions thereunder, (iii) if Holder  is not an Affiliate of the Company, six (6) months following the Closing, provided, however, that  in the case of (i), (ii) and (iii), above, the Holder provides the Company with customary  representation letters reasonably acceptable to the Company, or (iv) if the Holder provides the  Company with a legal opinion reasonably acceptable to the Company to the effect that the legend  is not required under applicable requirements of the Securities Act. Whenever such restrictions  shall cease and terminate as to any Shares, the Holder of such securities shall be entitled to receive  from the Company upon a written request in writing, without expense, new securities of like tenor  not bearing the legend set forth herein.      (c) Notwithstanding anything herein to the contrary, for a period of 90 days  following the Closing Date each Holder agrees not to sell any Shares issued to such Holder if the  sales of such Shares would, when combined with the sale of any other Shares by such Holder in  any one (1) day period, exceed five percent (5%) of the average daily trading volume of the  Company’s common stock on the New York Stock Exchange over the five (5) trading days  immediately preceding such date of sale; provided, however, that if the aggregate number of Shares  

 

ACTIVE/111903608.1        5      represents less than fifty percent (50%) of the average daily trading volume of the Company’s  common stock on the New York Stock Exchange over the five (5) trading days preceding the  Closing Date (the “Average Volume”), such resale volume limitations shall not apply.  The  Company may place such legends or stock transfer restrictions on the Shares as shall be appropriate  for enforcing the provisions of this Section 2(c).    ARTICLE III  REGISTRATION AND PROCEDURES    Section 3.1 S-3 Registration.    (a) In compliance with the terms of this Agreement, the Company shall prepare  and file with the SEC a registration statement on Form S-3ASR (or, if the Company is not then  eligible to use Form S-3ASR, Form S-3, Form S-1 or other available form) covering the resale as  a secondary offering to be made on a continuous basis pursuant to Rule 415 of all Registrable  Securities.  The registration statement required to be filed pursuant to this Section 3.1, together  with any amendments and supplements to such registration statement, including post-effective  amendments, and all exhibits and all materials incorporated by reference in such registration  statement, is referred to herein as the “Registration Statement.”    (b) The Company shall exercise commercially reasonable efforts to prepare and  file the Registration Statement with the SEC no later than fifteen (15) Business Days after the  Closing Date; provided, however, that no filing of such Registration Statement shall be required:  (i) during any period in which the Company’s insider trading policy would prohibit executive  officers of the Company from trading in the Company’s securities or in which the Registration  Statement should not be filed or an offering of the Shares thereunder should not be made pursuant  to any provision of the Securities Act or the Exchange Act or any rule or regulation thereunder; or  (ii) if the Closing Date occurs after September 13, 2021, at any time prior to the date which is two  (2) Business Days following the Company’s first filing with the SEC after the Closing Date of an  Annual Report on Form 10-K or a Quarterly Report on Form 10-Q.  Subject to the terms of this  Agreement, the Company shall use commercially reasonable efforts to have the Registration  Statement declared effective as soon as practicable after such filing if not otherwise effective upon  filing and to keep the Registration Statement continuously effective and in compliance with the  Securities Act and usable for resale of Registrable Securities covered thereby from the date of its  initial effectiveness until the earlier of (i) the date on which such Registrable Securities have been  disposed of in accordance with the Registration Statement or pursuant to Rule 144 or (ii) such  Registrable Securities may be sold pursuant to Rule 144 without any limitation as to manner-of- sale restrictions or volume limitations (such period, the “Effectiveness Period”); provided,  however, that nothing in this Agreement shall require the Company to maintain any Registration  Statement once all Shares cease to be Registrable Securities.    (c) It shall be a condition precedent to the obligations of the Company to take  any action pursuant to Section 3.1 or Section 3.2 with respect to Registrable Securities of a Holder  that the Holder shall furnish to the Company such information regarding such Holder as required  under Section 3.4(a).    

 

ACTIVE/111903608.1        6      Section 3.2 Registration Procedures; Company Obligations.  The Company shall use  commercially reasonable efforts to effect the registration of the Registrable Securities in  accordance with Section 3.1, and in connection therewith shall have the following obligations:    (a) No later than the first Business Day after the Registration Statement  becomes effective, the Company shall file with the SEC the final prospectus included therein  pursuant to Rule 424.  The Registration Statement, including any preliminary prospectus or final  prospectus contained therein or any amendments or supplements thereto, shall comply as to form  and content with the applicable requirements of the Securities Act and shall not contain any untrue  statement of a material fact or omit to state a material fact required to be stated therein, or necessary  to make the statements therein, in light of the circumstances in which they were made, not  misleading.    (b) Subject to Section 3.2(h), the Company shall prepare and file with the SEC  such amendments and supplements to the Registration Statement and the prospectus used in  connection with the Registration Statement as may be necessary to keep the Registration Statement  effective and usable for resale of the Registrable Securities covered thereby at all times during the  Effectiveness Period.  The Company shall use commercially reasonable efforts to cause any post- effective amendment to the Registration Statement that is not effective upon filing to become  effective as soon as practicable after such filing.  No later than the first Business Day after a post- effective amendment to the Registration Statement becomes effective, the Company shall file with  the SEC the final prospectus or prospectus supplement included therein pursuant to Rule 424.    (c) The Company shall as promptly as practicable notify the Holders of the time  when the Registration Statement becomes effective or an amendment or supplement to any  prospectus forming a part of such Registration Statement has been filed. The Company shall  furnish to the Holders, without charge, such documents, including copies of any preliminary  prospectus or final prospectus contained in the Registration Statement or any amendments or  supplements thereto, as such Holder may reasonably request from time to time in order to facilitate  the disposition of the Registrable Securities covered by the Registration Statement.    (d) The Company shall use commercially reasonable efforts to register or  qualify, and cooperate with the Holders of Registrable Securities covered by the Registration  Statement in connection with the registration or qualification of such Registrable Securities for  offer and sale under the securities or “blue sky” laws of each state and other jurisdiction of the  United States as any such Holder reasonably requests in writing, and do any and all other things  reasonably necessary or advisable to keep such registration or qualification in effect; provided,  however, that the Company shall not be required to qualify generally to do business in any  jurisdiction where it is not then so qualified or take any action which would subject it to taxation  or general service of process in any such jurisdiction where it is not then so subject.    (e) The Company shall promptly notify (which notice shall be accompanied by  an instruction to suspend the use of the prospectus) the Holders when a prospectus relating thereto  is required to be delivered under the Securities Act of the happening of any event as a result of  which any prospectus included in, or relating to, the Registration Statement, as then in effect,  includes an untrue statement of a material fact or omits to state a material fact required to be stated  

 

ACTIVE/111903608.1        7      therein, or necessary to make the statements therein, in light of the circumstances in which they  were made, not misleading (provided that in no event shall such notice contain any material, non- public information), and, subject to Section 3.2(h), promptly prepare and file with the SEC a  supplement to the related prospectus or amendment to such Registration Statement or any other  required document so that, as thereafter delivered to the Holders, the prospectus will not contain  an untrue statement of a material fact or omit to state any material fact required to be stated therein,  or necessary to make the statements therein, in light of the circumstances under which they were  made, not misleading.    (f) The Company shall use commercially reasonable efforts to prevent the  issuance of any stop order or other suspension of effectiveness of the Registration Statement, or  the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction  and, if such an order or suspension is issued, to obtain the withdrawal of such order or suspension  as soon as reasonably practicable and to notify the Holders of the issuance of such order and the  resolution thereof or its receipt of actual notice of the initiation or threat of any proceeding for  such purpose.    (g) The Company shall use commercially reasonable efforts to cause the  Registrable Securities covered by the Registration Statement to be (i) listed on the New York Stock  Exchange and (ii) reflected in the stock ledger maintained by the Company’s transfer agent.    (h) Notwithstanding anything in this Agreement to the contrary, at any time  after the Registration Statement becomes effective the Company may delay the disclosure of  material, non-public information concerning the Company or any of its subsidiaries if the Board  of Directors of the Company has a valid business reason for determining that disclosure of such  information is not in the best interests of the Company and such disclosure is not otherwise  required (a “Grace Period”); provided, however, that the Company shall promptly (i) provide  written notice to the Holders of the Grace Period (provided that in no event shall such notice  contain any material, non-public information) and the date on which the Grace Period will begin,  (ii) use commercially reasonable efforts to terminate a Grace Period as promptly as possible, and  (iii) provide written notice to the Holders of the date on which the Grace Period ends; provided,  further, that no Grace Period shall exceed thirty (30) consecutive days and during any twelve (12)  month period such Grace Periods shall not exceed an aggregate of sixty (60) days; provided,  further, the Company shall not register any securities for its own account or that of any other  stockholder during such Grace Period.  The provisions of Section 3.2(e) shall not be applicable  during any Grace Period.  Upon expiration of a Grace Period, the Company shall again be bound  by the provisions of Section 3.2(e) with respect to the information giving rise thereto unless such  material, non-public information is no longer applicable.    Section 3.3 Current Public Information.  During the Effectiveness Period, the  Company shall use commercially reasonable efforts to (i) make and keep public information  available, as those terms are defined in Rule 144, until all the Registrable Securities cease to be  Registrable Securities, and so long as a Holder owns any Registrable Securities, furnish to such  Holder upon request a written statement by the Company as to its satisfaction of the current public  information requirements of Rule 144 and (ii) file with the SEC in a timely manner all reports and  

 

ACTIVE/111903608.1        8      other documents required to be filed by the Company under the Securities Act and the Exchange  Act.    Section 3.4 Obligations of the Holders.    (a) Each Holder shall furnish in writing to the Company such information  regarding such Holder, the Registrable Securities held by such Holder and the intended method of  disposition of the Registrable Securities held by such Holder as shall be reasonably required to  effect the registration of such Registrable Securities and shall execute, or shall cause to be  executed, such customary documents in connection with such registration as the Company may  reasonably request.  In connection therewith, upon the execution of this Agreement, each Holder  shall complete, execute and deliver to the Company a selling securityholder notice and  questionnaire in the form attached hereto as Exhibit B.  At least five (5) Business Days prior to the  first anticipated filing date of the Registration Statement, the Company shall notify each Holder of  any additional information the Company requires from such Holder, and such Holder shall provide  such information to the Company at least three (3) Business Days prior to the first anticipated  filing date of the Registration Statement.    (b) Each Holder agrees to cooperate with the Company as reasonably requested  by the Company in connection with the preparation and filing of the Registration Statement.    (c) Upon receipt of written notice from the Company of any event of the kind  described in Section 3.2(e) or Section 3.2(f) or written notice of any Grace Period, each Holder  shall forthwith discontinue disposition of Registrable Securities until such Holder has received  copies of a supplemented or amended prospectus or until such Holder is advised in writing by the  Company that the use of the prospectus may be resumed or that the Grace Period has ended.  If so  directed by the Company, such Holder shall use its commercially reasonable efforts to return to  the Company (at the Company's expense) all copies of the prospectus covering such Registrable  Securities current at the time of receipt of such notice other than permanent file copies then in such  Holder’s possession.    (d) No Holder shall use any free writing prospectus (as defined in Rule 405) in  connection with the sale of Registrable Securities without the prior written consent of the  Company.   (e) Each Holder covenants and agrees that it will comply with the prospectus  delivery requirements of the Securities Act as applicable to it or an exemption therefrom in  connection with sales of Registrable Securities pursuant to any Registration Statement.      Section 3.5 Obligations of the Company. Company agrees that, except to the extent  required by law, the Registration Statement will not specifically list as selling securityholders any  passive limited partners of any stockholder of the Company that is a venture capital fund who  receives unregistered Company stock on the Closing Date.    Section 3.6 Expenses of Registration. All Registration Expenses incurred in  connection with any registration, qualification or compliance hereunder shall be borne by the  Company. All Selling Expenses incurred in connection with any registration hereunder shall be  

 

ACTIVE/111903608.1        9      borne by the Holders of the Registrable Securities so registered in proportion to the Registrable  Securities owned by such Holders.    Section 3.7 Transfer of Registration Rights. The rights contained in Section 3.1  hereof to cause the Company to register the Registrable Securities, and the other rights set forth in  this Article III, may be assigned or otherwise conveyed by any Holder to any transferee of the  Registrable Securities if the Transfer was permitted under Article II and the transferee agrees with  the Company in writing to be bound by this Agreement.    ARTICLE IV  INDEMNIFICATION AND CONTRIBUTION    Section 4.1 Indemnification.  In the event any Registrable Securities are included in  the Registration Statement:    (a) The Company shall indemnify and hold harmless each Holder of  Registrable Securities and such Holder’s officers, directors, employees, partners, members, agents  (including brokers), representatives and Affiliates and each person, if any, who controls such  Holder within the meaning of the Securities Act or the Exchange Act (each, a “Holder  Indemnitee”), against any losses, claims, damages, liabilities or expenses to which they may  become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as  such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based  upon any of the following statements, omissions or violations (collectively, a “Violation”): (i) an  untrue statement or alleged untrue statement of a material fact contained in the Registration  Statement, including any preliminary prospectus or final prospectus contained therein or any  amendments or supplements thereto or any documents incorporated therein by reference, (ii) an  omission or alleged omission to state therein a material fact required to be stated therein, or  necessary to make the statements therein, in light of the circumstances in which they were made,  not misleading, and (iii) a violation or alleged violation by the Company or its agents of any rule  or regulation promulgated under the Securities Act or the Exchange Act applicable to the Company  or its agents and relating to action or inaction required of the Company in connection with the  Registration Statement, and the Company will pay to each such Holder Indemnitee, as accrued,  any legal or other expenses reasonably incurred by he, she or it in connection with investigating  or defending any such loss, claim, damage, liability, action or expense; provided, however, that  the indemnification contained in this Section 4.1(a) shall not apply to amounts paid in settlement  of any such loss, claim, damage, liability, action or expense if such settlement is effected without  the consent of the Company (which consent shall not be unreasonably withheld, conditioned or  delayed), nor shall the Company be liable for any such loss, claim, damage, liability, action or  expense to the extent that it arises out of or is based upon a Violation which occurs (A) in reliance  upon and in conformity with written information furnished by a Holder to the Company  specifically for use therein, (B) in connection with any failure of such person to deliver or cause  to be delivered a prospectus made available by the Company in a timely manner, (C) in connection  with any offers or sales effected by or on behalf of any Holder Indemnitee in violation of Section  3.4(c), or (D) as a result of offers or sales effected by or on behalf of any Holder Indemnitee by  means of a free writing prospectus (as defined in Rule 405) that was not authorized in writing by  the Company. Such indemnity shall remain in full force and effect regardless of any investigation  

 

ACTIVE/111903608.1        10      made by or on behalf of any such Holder Indemnitee, and shall survive the transfer of such  securities by such Holder, and any termination of this Agreement.    (b) Each Holder, severally and not jointly, shall indemnify and hold harmless  the Company and each of its officers, directors, employees, agents, representatives and Affiliates  and persons, if any, who control the Company within the meaning of the Securities Act or the  Exchange Act (each, a “Company Indemnitee”), against any losses, claims, damages, liabilities  or expenses to which any of the Company Indemnitees may become subject under the Securities  Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages, or  liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or  alleged untrue statement of a material fact regarding such Holder and provided in writing by such  Holder which is contained in the Registration Statement, including any preliminary prospectus or  final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or  alleged omission to state therein a material fact required to be stated therein, or necessary to make  the statements therein, in light of the circumstances in which they were made, not misleading, in  each case to the extent (and only to the extent) that such untrue statement or alleged untrue  statement or omission or alleged omission was made in the Registration Statement, preliminary or  final prospectus, amendment or supplement thereto, in reliance upon and in conformity with  written information furnished by such Holder to the Company specifically for use therein, (iii) a  violation or alleged violation by a Holder of any rule or regulation promulgated under the  Securities Act or the Exchange Act applicable to such Holder and relating to action or inaction  required of such Holder in connection with the registration of such Holder’s Registrable Securities  or (iv) any offer or sale effected by or on behalf of such Holder in violation of Section 3.4(c), and  each Holder will pay, as accrued, any legal or other expenses reasonably incurred by any Company  Indemnitee pursuant to this Section 4.1(b), in connection with investigating or defending any such  loss, claim, damage, liability, action or expense as a result of a Holder’s untrue statement or  omission or violation; provided, however, that the indemnification contained in this Section 4.1(b)  shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, action or  expense if such settlement is effected without the consent of such Holder (which consent shall not  be unreasonably withheld, conditioned or delayed).  Notwithstanding the foregoing, the amount  any Holder will be obligated to pay pursuant to this Section 4.1(b) and Section 4.2 will be limited  to an amount equal to the net proceeds (after Selling Expenses) actually received by such Holder  for the sale of the Registrable Securities pursuant to the Registration Statement which gives rise to  such obligation to indemnify and/or contribute (net of all expenses paid by such Holder in  connection with any claim relating to this Section 4.1(b) and Section 4.2 and the aggregate amount  of any damages which such Holder has otherwise been required to pay in respect of such loss,  liability, claim, damage, or expense or any substantially similar loss, liability, claim, damage, or  expense arising from the sale of such Registrable Securities).  Such indemnity shall remain in full  force and effect regardless of any investigation made by or on behalf of any such Company  Indemnitee, and shall survive the transfer of such securities by such Holder, and any termination  of this Agreement.    (c) Promptly after receipt by a party to this Agreement entitled to indemnity  hereunder (an “Indemnified Party”) under this Section 4.1 of notice of the commencement of any  action (including any governmental action), such Indemnified Party will, if a claim in respect  thereof is to be made against any party to this Agreement from whom indemnification may be  

 

ACTIVE/111903608.1        11      sought under this Section 4.1 (an “Indemnifying Party”), deliver to the Indemnifying Party a  written notice of the commencement thereof and the Indemnifying Party shall have the right to  participate in, and, to the extent the Indemnifying Party so desires, jointly with any other  Indemnifying Party similarly noticed, to assume the defense thereof with counsel reasonably  satisfactory to the Indemnifying Party; provided, however, that an Indemnified Party (together  with all other Indemnified Parties which may be represented without conflict by one counsel) shall  have the right to retain one separate counsel, with the reasonable fees and expenses of such counsel  to be paid by the Indemnifying Party, if (i) the Indemnifying Party shall have failed to assume the  defense of such claim within seven (7) days after receipt of notice of the claim and to employ  counsel reasonably satisfactory to such Indemnified Party, as the case may be; or (ii) in the  reasonable opinion of counsel retained by the Indemnified Party, representation of such  Indemnified Party by such counsel would be inappropriate due to actual or potential differing  interests (including the availability of differing legal defenses) between such Indemnified Party  and any other party represented by such counsel in such proceeding. It is understood that the  Indemnifying Party shall not, in connection with any proceeding in the same jurisdiction, be liable  for fees or expenses of more than one separate counsel at any time for all such Indemnified Parties.  The Indemnified Party shall cooperate fully with the Indemnifying Party in connection with any  negotiation or defense of any such action or claim by the Indemnifying Party and shall furnish to  the Indemnifying Party all information reasonably available to the Indemnified Party which relates  to such action or claim. The Indemnifying Party shall keep the Indemnified Party reasonably  apprised of the status of the defense or any settlement negotiations with respect thereto. No  Indemnifying Party will, except with the consent of the Indemnified Party, consent to entry of any  judgment or enter into any settlement that does not include as an unconditional term thereof the  giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect  of such action or claim. No Indemnifying Party shall be liable for any settlement of any action,  claim or proceeding effected without its prior written consent; provided, however, that the  Indemnifying Party shall not unreasonably withhold, delay or condition its consent. The failure to  deliver written notice to the Indemnifying Party within a reasonable time of the commencement of  any such action shall not relieve such Indemnifying Party of any liability to the Indemnified Party  under this Section 4.1, except to the extent such failure to give notice has a material adverse effect  on the ability of the Indemnifying Party to defend such action.    Section 4.2 Contribution.  If the indemnification provided for in Section 4.1 is  held by a court of competent jurisdiction to be unavailable to an Indemnified Party with respect to  any loss, liability, claim, damage, or expense referred to therein, then the Indemnifying Party, in  lieu of indemnifying such Indemnified Party hereunder, shall contribute to the amount paid or  payable by such Indemnified Party as a result of such loss, liability, claim, damage, or expense in  such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one  hand and of the Indemnified Party on the other in connection with the statements or omissions that  resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable  considerations. The relative fault of the Indemnifying Party and of the Indemnified Party shall be  determined by reference to, among other things, whether the untrue or alleged untrue statement of  a material fact or the omission to state a material fact relates to information supplied by the  Indemnifying Party or by the Indemnified Party and the parties’ relative intent, knowledge, access  to information, and opportunity to correct or prevent such statement or omission. Notwithstanding  the foregoing, the amount any Holder will be obligated to severally and not jointly contribute  

 

ACTIVE/111903608.1        12      pursuant to this Section 4.2, together with Holder’s liability under Section 4.1(b), will be limited  to an amount equal to the net proceeds (after Selling Expenses) received by a Holder for the sale  of the Registrable Securities pursuant to the Registration Statement which gives rise to such  obligation to contribute and/or indemnify (net of all expenses paid by such Holder in connection  with any claim relating to Section 4.1(b) and this Section 4.2 and the aggregate amount of any  damages which such Holder has otherwise been required to pay in respect of such loss, liability,  claim, damage, or expense or any substantially similar loss, liability, claim, damage, or expense  arising from the sale of such Registrable Securities). No person guilty of fraudulent  misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to  contribution hereunder from any person who was not guilty of such fraudulent misrepresentation.    ARTICLE V  GENERAL PROVISIONS    Section 5.1 Entire Agreement.  This Agreement (including Exhibit A hereto)  constitutes the entire understanding and agreement between the parties as to the matters covered  herein and supersedes and replaces any prior understanding, agreement or statement of intent, in  each case, written or oral, of any and every nature with respect thereto.  Section 5.2 Notices.  All notices, waivers, consents and other communications to any  party hereunder shall be in writing and shall be deemed given (i) when personally delivered, (ii)  when receipt is electronically confirmed, if sent by email of a .pdf document, (iii) one (1) Business  Day after deposit with a nationally recognized overnight courier, specifying next day delivery,  with proof of receipt or (iv) three (3) Business Days after being sent by registered or certified mail,  return receipt requested and postage prepaid. The addresses, email addresses and facsimile  numbers for such notices and communications are those set forth on the signature pages hereof, or  such other address, email address or facsimile numbers as may be designated in writing hereafter,  in the same manner, by any such person.  Section 5.3 Counterparts.  This Agreement may be executed in several counterparts,  each of which shall be deemed an original copy of this Agreement and all of which, when taken  together, shall constitute one instrument.  The exchange of copies of this Agreement and manually  executed signature pages by transmission by email of a .pdf of a handwritten original signature or  signatures to the other parties hereto shall constitute effective execution and delivery of this  Agreement and may be used in lieu of the original Agreement for all purposes.  The signature of a  party hereto transmitted by electronic means shall be deemed to be an original signature for any  purpose.  Section 5.4 Amendment; Waiver.  This Agreement may be amended or modified, and  any provision hereof may be waived, in whole or in part, at any time pursuant to an agreement in  writing executed by the Company and Holders holding a majority of the Registrable Securities at  such time. Any failure by any party at any time to enforce any of the provisions of this Agreement  shall not be construed a waiver of such provision or any other provisions hereof.  Section 5.5 Severability.  If a court of competent jurisdiction finds that any term or  provision of this Agreement is invalid, illegal or unenforceable under any Law or public policy,  the remaining provisions of this Agreement shall remain in full force and effect if the economic  

 

ACTIVE/111903608.1        13      and legal substance of this Agreement and the Transactions shall not be affected in any manner  materially adverse to any party hereto.  Any such term or provision found to be illegal, invalid or  unenforceable only in part or in degree shall remain in full force and effect to the extent not invalid,  illegal or unenforceable.  Upon the determination that any term or provision is invalid, illegal or  unenforceable, the parties hereto intend that such provision shall be construed by modifying or  limiting it so as to be valid and enforceable to the maximum extent possible under applicable Law  and compatible with the consummation of the Transactions as originally intended.  Section 5.6. Governing Law; Venue.  This Agreement and all claims or causes of action  (whether sounding in contract or tort) arising under or related to this Agreement shall be governed  by, and construed in accordance with, the Laws of the State of Delaware, without regard to any  rule or principle that might refer the governance or construction of this Agreement to the Laws of  another jurisdiction. In any action or proceeding between any of the parties hereto arising under or  related to this Agreement, each of the parties hereto (i) knowingly, voluntarily, irrevocably and  unconditionally consents and submits to the exclusive jurisdiction and venue of the state or federal  courts located in the City and County of San Francisco, California, and each of the Parties hereby  irrevocably submits to the exclusive jurisdiction of the aforesaid courts, (ii) agrees that all claims  in respect of any such action or proceeding shall be heard and determined exclusively in  accordance with clause (i) of this Section 5.6, (iii) waives any objection to the laying of venue of  any such action or proceeding in such courts, including any objection that any such action or  proceeding has been brought in an inconvenient forum or that the court does not have jurisdiction  over any party hereto and (iv) agrees that service of process upon such party in any such action or  proceeding shall be effective if such process is given as a notice in accordance with Section 5.2.   The parties hereto agree that any party hereto may commence a proceeding in a court other than  the above-named courts solely for the purpose of enforcing an order or judgment issued by one of  the above-named courts.  Section 5.7 Specific Performance.  Each party acknowledges and agrees that the other  parties hereto would be irreparably harmed and would not have any adequate remedy at law in the  event that any of the provisions of this Agreement were not performed by such first party in  accordance with their specific terms or were otherwise breached by such first party.  Accordingly,  each party agrees that the other parties hereto shall be entitled to an injunction or injunctions to  prevent breaches of this Agreement and to enforce specifically the terms and provisions of this  Agreement, this being in addition to any other remedy to which such parties are entitled at law or  in equity.  (Next Page is Signature Page)    

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the parties has executed this Agreement as of the date  first written above.    COMPANY:  INVITAE CORPORATION    By: /s/ Sean E. George      Name: Sean E. George, Ph.D.  Title:   President and Chief Executive Officer    Address for Notice:    1400 16th Street  San Francisco, California 94103  Attn: General Counsel   Facsimile No.: (415) 276-4164           

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Adam Sand ___________________             By:         /s/ Adam Sand _________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:              Name:        AH Bio Fund I, L.P.  for itself and as nominee for AH Bio  Fund I-B, L.P.  By: AH Equity Partners Bio I, L.L.C. Its  general partner  _________             By:         /s/ Scott Kupor  _________         Name:  Scott Kupor         Title:   Chief Operating Officer               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:              Name:        AH Bio Fund II, L.P.  for itself and as nominee for AH Bio  Fund II-B, L.P.  By: AH Equity Partners Bio II, L.L.C. Its  general partner  _________             By:         /s/ Scott Kupor  _________         Name:  Scott Kupor         Title:   Chief Operating Officer               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Anil Sethi ___________________             By:         /s/ Anil Sethi _________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Brian Carlsen ___________________             By:         /s/ Brian Carlsen _________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        David Fisch ___________________             By:         /s/ David Fisch _________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Deven McGraw ___________________             By:         /s/ Deven McGraw _________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Farid Vij____________________             By:         /s/ Farid Vij _________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Hughes Ventures, LLC _________             By:         /s/ James V. Buzzitta  _________         Name:  James V. Buzzitta         Title:   Manager               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Intermountain Ventures Fund, LLC____             By:         /s/ Nickolas Mark  _________         Name:  Nickolas Mark         Title:   Vice President of Managing Member               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        John Wayne Horton_________________             By:         /s/ John Wayne Horton______________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:           

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Jordan Shlain__________________             By:         /s/ Jordan Shlain________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Laurence Marton___________________             By:         /s/ Laurence Marton_________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Lincoln Nadauld___________________             By:         /s/ Lincoln Nadauld_________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Lisa Belliveau____________________             By:         /s/ Lisa Belliveau _________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        MDC Capital Partners (Ventures) LP____             By:         /s/ Howard Caro  _________         Name:  Howard Caro         Title:   Authorized Signatory               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Nasha Fitter___________________             By:         /s/ Nasha Fitter_________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Nikunj J. Parekh___________________             By:         /s/ Nikun J. Parekh_________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Peeyush Rai_______________________             By:         /s/ Peeyush Rai ____________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

      [Signature Page to Registration Rights Agreement]  IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Prashant Palsokar___________________             By:         /s/ Prashant Palsokar ________________         Name:           Title:                 Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

   [Signature Page to Registration Rights Agreement]       IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Premal S. Shah_____________________             By:         /s/ Premal S. Shah __________________         Name:           Title:                  Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

   [Signature Page to Registration Rights Agreement]       IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Priyoadarshi Sen_ __________________             By:         /s/ Priyodarshi Sen__________________         Name:           Title:                  Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

   [Signature Page to Registration Rights Agreement]       IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Sand Family Trust_____________________             By:         /s/ Adam Sand  __________________         Name:  Adam Sand         Title:   Trustee               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

   [Signature Page to Registration Rights Agreement]       IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Schox Venture Capital, LP – A2__________             By:         /s/ Brett Sagan ________________________         Name:  Brett Sagan         Title:   Authorized Person               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

   [Signature Page to Registration Rights Agreement]       IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:              By:         Section 32 Fund 2, LP  Section 32 GP 2, Its General Partner___             By:         /s/ William J. Maris____________________         Name:  William J. Maris         Title:   Managing Member               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

   [Signature Page to Registration Rights Agreement]       IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        StellaTechnology Inc.______________             By:         /s/ Lalo Valdez  _________         Name:  Lalo Valdez         Title:   President & CEO               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

   [Signature Page to Registration Rights Agreement]       IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        The 4100 Group, Inc.___________________             By:         /s/ Sue E. Jenkins  ____________         Name:  Sue E. Jenkins         Title:   General Counsel and Secretary               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

   [Signature Page to Registration Rights Agreement]       IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        The Ahuja Family Trust_________________             By:         /s/ Deepak Ahuja  ____________         Name:  Deepak Ahuja         Title:   Trustee               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

   [Signature Page to Registration Rights Agreement]       IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Verily Life Sciences LLC________________             By:         /s/ Andrew Conrad  _____________         Name:  Andrew Conrad         Title:   Chief Executive Officer               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:      

 

   [Signature Page to Registration Rights Agreement]       IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Wavemaker Three-Sixty Health A, LP______             By:         /s/ John G. Nackel  _____________         Name:  John G. Nackel         Title:   General Partner               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:        

 

   [Signature Page to Registration Rights Agreement]       IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of  the date first written above.              HOLDER:             Name:        Wavemaker Three-Sixty Health, LP______             By:         /s/ John G. Nackel  _____________         Name:  John G. Nackel         Title:   General Partner               Address for  Notice:                    Telephone  No.:                Facsimile No.:            Email  Address:invitae-stratifygenomics

  SNP BIO, INC.  2018 EQUITY INCENTIVE PLAN  1. Purpose.    The purpose of the Plan is to advance the interests of the Company’s stockholders by  enhancing the Company’s ability to attract, retain and motivate persons who make (or are expected to  make) important contributions to the Company by providing such persons with equity ownership  opportunities and thereby better aligning the interests of such persons with those of the Company’s  stockholders.  Capitalized terms used in the Plan are defined in Section 11 below.  2. Eligibility.    Service Providers are eligible to be granted Awards under the Plan, subject to the  limitations described herein.   3. Administration and Delegation.   (a) Administration.    The Plan will be administered by the Administrator. The  Administrator shall have authority to determine which Service Providers will receive Awards, to grant  Awards and to set all terms and conditions of Awards (including, but not limited to, vesting, exercise and  forfeiture provisions). In addition, the Administrator shall have the authority to take all actions and make  all determinations contemplated by the Plan and to adopt, amend and repeal such administrative rules,  guidelines and practices relating to the Plan as it shall deem advisable. The Administrator may correct any  defect or ambiguity, supply any omission or reconcile any inconsistency in the Plan or any Award in the  manner and to the extent it shall deem necessary or appropriate to carry the Plan and any Awards into  effect, as determined by the Administrator. The Administrator shall make all determinations under the  Plan in the Administrator’s sole discretion and all such determinations shall be final and binding on all  persons having or claiming any interest in the Plan or in any Award.   (b) Appointment of Committees.    To the extent permitted by Applicable Laws, the  Board may delegate any or all of its powers under the Plan to one or more Committees. The Board may  abolish any Committee at any time and re-vest in itself any previously delegated authority.   4. Stock Available for Awards.  (a) Number of Shares.  Subject to adjustment under Section 8 hereof, Awards may be made  under the Plan covering up to 14,100,000 shares of Common Stock. If any Award expires or lapses or is  terminated, surrendered or canceled without having been fully exercised or is forfeited in whole or in  part (including as the result of shares of Common Stock subject to such Award being repurchased by the  Company at or below the original issuance price), in any case in a manner that results in any shares of  Common Stock covered by such Award not being issued or being so reacquired by the Company, the  unused Common Stock covered by such Award shall again be available for the grant of Awards under  the Plan.  Further, shares of Common Stock delivered (either by actual delivery or attestation) to the  Company by a Participant to satisfy the applicable exercise or purchase price of an Award and/or to  satisfy any applicable tax withholding obligation (including shares retained by the Company from the  Award being exercised or purchased and/or creating the tax obligation) shall be added to the number of  shares of Common Stock available for the grant of Awards under the Plan.  However, in the case of  Incentive Stock Options (as hereinafter defined), the foregoing provisions shall be subject to any  

 

2  limitations under the Code.  Shares of Common Stock issued under the Plan may consist in whole or in  part of authorized but unissued shares, shares purchased on the open market or treasury shares.    (b) Substitute Awards.  In connection with a merger or consolidation of an entity  with the Company or the acquisition by the Company of property or stock of an entity, the Administrator  may grant Awards in substitution for any options or other stock or stock-based awards granted prior to  such merger or consolidation by such entity or an affiliate thereof.  Substitute Awards may be granted on  such terms as the Administrator deems appropriate in the circumstances, notwithstanding any limitations  on Awards contained in the Plan.  Substitute Awards shall not count against the overall share limit set  forth in Section 4(a) hereof, except as may be required by reason of Section 422 of the Code.    5. Stock Options.   (a) General.    The Administrator may grant Options to any Service Provider, subject  to the limitations on Incentive Stock Options described below.  The Administrator shall determine the  number of shares of Common Stock to be covered by each Option, the exercise price of each Option and  the conditions and limitations applicable to the exercise of each Option, including conditions relating to  Applicable Laws, as it considers necessary or advisable.   (b) Incentive Stock Options.    The Administrator may grant Options intended to  qualify as Incentive Stock Options only to employees of the Company, any of the Company’s present or  future “parent corporations” or “subsidiary corporations” as defined in Sections 424(e) or (f) of the Code,  respectively, and any other entities the employees of which are eligible to receive Incentive Stock Options  under the Code. All Options intended to qualify as Incentive Stock Options shall be subject to and shall  be construed consistently with the requirements of Section 422 of the Code.  Neither the Company nor the  Administrator shall have any liability to a Participant, or any other party, (i) if an Option (or any part  thereof) which is intended to qualify as an Incentive Stock Option fails to qualify as an Incentive Stock  Option or (ii) for any action or omission by the Administrator that causes an Option not to qualify as an  Incentive Stock Option, including without limitation, the conversion of an Incentive Stock Option to a  Non-Qualified Stock Option or the grant of an Option intended as an Incentive Stock Option that fails to  satisfy the requirements under the Code applicable to an Incentive Stock Option.  Any Option that is  intended to qualify as an Incentive Stock Option, but fails to so qualify for any reason, including without  limitation, the portion of any Option becoming exercisable in excess of the $100,000 limitation described  in Treasury Regulation Section 1.422-4, shall be treated as a Non-Qualified Stock Option for all purposes.  (c) Exercise Price.    The Administrator shall establish the exercise price of each  Option and specify the exercise price in the applicable Award Agreement. The exercise price shall be not  less than 100% of the Fair Market Value on the date the Option is granted.  In the case of an Incentive  Stock Option granted to an employee who, at the time of grant of the Option, owns (or is treated as  owning under Section 424 of the Code) stock representing more than 10% of the voting power of all  classes of stock of the Company (or a “parent corporation” or “subsidiary corporation” thereof within the  meaning of Sections 424(e) or 424(f) of the Code, respectively), the per share exercise price shall be no  less than 110% of the Fair Market Value on the date the Option is granted.     (d) Duration of Options.    Each Option shall be exercisable at such times and subject  to such terms and conditions as the Administrator may specify in the applicable Award Agreement,  provided that the term of any Option shall not exceed ten years.  In the case of an Incentive Stock Option  granted to an employee who, at the time of grant of the Option, owns (or is treated as owning under  Section 424 of the Code) stock representing more than 10% of the voting power of all classes of stock of  the Company (or a “parent corporation” or “subsidiary corporation” thereof within the meaning of  Sections 424(e) or 424(f) of the Code, respectively), the term of the Option shall not exceed five years.   

 

3  (e) Exercise of Option; Notification of Disposition.    Options may be exercised by  delivery to the Company of a written notice of exercise, in a form approved by the Administrator (which  may be an electronic form), signed by the person authorized to exercise the Option, together with  payment in full (i) as specified in Section 5(f) hereof for the number of shares for which the Option is  exercised and (ii) as specified in Section 9(e) hereof for any applicable withholding taxes.  Unless  otherwise determined by the Administrator, an Option may not be exercised for a fraction of a share of  Common Stock.  If an Option is designated as an Incentive Stock Option, the Participant shall give  prompt notice to the Company of any disposition or other transfer of any shares of Common Stock  acquired from the Option if such disposition or transfer is made (i) within two years from the grant date  with respect to such Option or (ii) within one year after the transfer of such shares to the Participant (other  than any such disposition made in connection with a Change in Control).  Such notice shall specify the  date of such disposition or other transfer and the amount realized, in cash, other property, assumption of  indebtedness or other consideration, by the Participant in such disposition or other transfer.  (f) Payment Upon Exercise.    Common Stock purchased upon the exercise of an  Option granted under the Plan shall be paid for in cash, by wire transfer of immediately available funds or  by check, payable to the order of the Company, or, subject to Section 10(h), any Company insider trading  policy (including, without limitation, any blackout periods) and Applicable Laws, by:   (i) if the Company is a Publicly Listed Company, unless the Administrator  otherwise determines, (A) delivery of an irrevocable and unconditional undertaking by a broker  acceptable to the Company to deliver promptly to the Company sufficient funds to pay the  exercise price, or (B) delivery by the Participant to the Company of a copy of irrevocable and  unconditional instructions to a broker acceptable to the Company to deliver promptly to the  Company cash or a check sufficient to pay the exercise price, provided in either case, that such  amount is paid to the Company at such time as may be required by the Administrator;    (ii) to the extent permitted by the Administrator, delivery (either by actual  delivery or attestation) of shares of Common Stock owned by the Participant valued at their Fair  Market Value, provided (A) such method of payment is then permitted under Applicable Laws,  (B) such Common Stock, if acquired directly from the Company, was owned by the Participant  for such minimum period of time, if any, as may be established by the Company at any time, and  (C) such Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other  similar requirements;  (iii) to the extent permitted by the Administrator, surrendering shares of  Common Stock then issuable upon exercise of the Option valued at their Fair Market Value on  the date of exercise;   (iv) to the extent permitted by the Administrator, delivery of a promissory  note of the Participant to the Company on terms determined by the Administrator;   (v) to the extent permitted by the Administrator, delivery of property of any  other kind which constitutes good and valuable consideration as determined by the Administrator;  or  (vi) to the extent permitted by the Administrator, any combination of the  above permitted forms of payment (including cash or check).   (g) Early Exercise of Options.  The Administrator may provide in the terms of an  Award Agreement that the Service Provider may exercise an Option in whole or in part prior to the full  vesting of the Option in exchange for unvested shares of Restricted Stock with respect to any unvested  

 

4  portion of the Option so exercised.  Shares of Restricted Stock acquired upon the exercise of any unvested  portion of an Option shall be subject to such terms and conditions as the Administrator shall determine.  6. Restricted Stock; Restricted Stock Units.  (a) General.  The Administrator may grant Restricted Stock, or the right to purchase  Restricted Stock, to any Service Provider, subject to the right of the Company to repurchase all or part of  such shares at their issue price or other stated or formula price from the Participant (or to require  forfeiture of such shares if issued at no cost) in the event that conditions specified by the Administrator in  the applicable Award Agreement are not satisfied prior to the end of the applicable restriction period or  periods established by the Administrator for such Award.  In addition, the Administrator may grant to  Service Providers Restricted Stock Units, which may be subject to vesting and forfeiture conditions  during applicable restriction period or periods, as set forth in an applicable Award Agreement.  (b)  Terms and Conditions for All Restricted Stock and Restricted Stock Unit  Awards.  The Administrator shall determine and set forth in the applicable Award Agreement the terms  and conditions applicable to each Restricted Stock and Restricted Stock Unit Award, including the  conditions for vesting and repurchase (or forfeiture) and the issue price, in each case, if any.   (c) Additional Provisions Relating to Restricted Stock.   (i) Dividends.  Participants holding shares of Restricted Stock will be  entitled to all ordinary cash dividends paid with respect to such shares to the extent such  dividends have a record date that is on or after the date on which the Participant to whom such  Restricted Shares are granted becomes the record holder of such Restricted Shares, unless  otherwise provided by the Administrator in the applicable Award Agreement.  In addition, unless  otherwise provided by the Administrator, if any dividends or distributions are paid in shares, or  consist of a dividend or distribution to holders of Common Stock of property other than an  ordinary cash dividend, the shares or other property will be subject to the same restrictions on  transferability and forfeitability as the shares of Restricted Stock with respect to which they were  paid. Each dividend payment will be made as provided in the applicable Award Agreement, but  in no event later than the end of the calendar year in which the dividends are paid to stockholders  of that class of stock or, if later, the 15th day of the third month following the later of (A) the date  the dividends are paid to stockholders of that class of stock, and (B) the date the dividends are no  longer subject to forfeiture.    (ii) Stock Certificates.  The Company may require that any stock certificates  issued in respect of shares of Restricted Stock be deposited in escrow by the Participant, together  with a stock power endorsed in blank, with the Company (or its designee).     (d) Additional Provisions Relating to Restricted Stock Units.  (i) Settlement.  Upon the vesting of a Restricted Stock Unit, the Participant  shall be entitled to receive from the Company one share of Common Stock or an amount of cash  or other property equal to the Fair Market Value of one share of Common Stock on the settlement  date, as the Administrator shall determine and as provided in the applicable Award Agreement.   The Administrator may provide that settlement of Restricted Stock Units shall occur upon or as  soon as reasonably practicable after the vesting of the Restricted Stock Units or shall instead be  deferred, on a mandatory basis or at the election of the Participant, in a manner that complies with  Section 409A.   

 

5  (ii) Voting Rights.  A Participant shall have no voting rights with respect to  any Restricted Stock Units unless and until shares are delivered in settlement thereof.   (iii) Dividend Equivalents.  To the extent provided by the Administrator, a  grant of Restricted Stock Units may provide a Participant with the right to receive Dividend  Equivalents.  Dividend Equivalents may be paid currently or credited to an account for the  Participant, may be settled in cash and/or shares of Common Stock and may be subject to the  same restrictions on transfer and forfeitability as the Restricted Stock Units with respect to which  the Dividend Equivalents are paid, as determined by the Administrator, subject, in each case, to  such terms and conditions as the Administrator shall establish and set forth in the applicable  Award Agreement.  7. Other Stock-Based Awards.    Other Stock-Based Awards may be granted hereunder to Participants, including, without  limitation, Awards entitling Participants to receive shares of Common Stock to be delivered in the future.  Such Other Stock-Based Awards shall also be available as a form of payment in the settlement of other  Awards granted under the Plan, as stand-alone payments and/or as payment in lieu of compensation to  which a Participant is otherwise entitled.  Other Stock-Based Awards may be paid in shares of Common  Stock, cash or other property, as the Administrator shall determine.  Subject to the provisions of the Plan,  the Administrator shall determine the terms and conditions of each Other Stock-Based Award, including  any purchase price, transfer restrictions, vesting conditions and other terms and conditions applicable  thereto, which shall be set forth in the applicable Award Agreement.   8. Adjustments for Changes in Common Stock and Certain Other Events.  (a) In the event that the Administrator determines that any dividend or other  distribution (whether in the form of cash, Common Stock, other securities, or other property),  reorganization, merger, consolidation, combination, repurchase, recapitalization, liquidation, dissolution,  or sale, transfer, exchange or other disposition of assets of the Company, or exchange of Common Stock  or other securities of the Company, issuance of warrants or other rights to purchase Common Stock or  other securities of the Company, or other similar corporate transaction or event, as determined by the  Administrator, affects the Common Stock such that an adjustment is determined by the Administrator to  be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended by  the Company to be made available under the Plan or with respect to any Award, then the Administrator  may, in such manner as it may deem equitable, adjust any or all of:    (i) the number and kind of shares of Common Stock (or other securities or  property) with respect to which Awards may be granted or awarded (including, but not limited to,  adjustments of the limitations in Section 4 hereof on the maximum number and kind of shares  which may be issued);    (ii) the number and kind of shares of Common Stock (or other securities or  property) subject to outstanding Awards;    (iii) the grant or exercise price with respect to any Award; and  (iv) the terms and conditions of any Awards (including, without limitation,  any applicable financial or other performance “targets” specified in an Award Agreement).    (b) In the event of any transaction or event described in Section 8(a) hereof  (including without limitation any Change in Control) or any unusual or nonrecurring transaction or event  

 

6  affecting the Company or the financial statements or financial condition of the Company, or any change  in any Applicable Laws or accounting principles, the Administrator, on such terms and conditions as it  deems appropriate, either by the terms of the Award or by action taken prior to or after the occurrence of  such transaction or event and either automatically or upon the Participant’s request, is hereby authorized  to take any one or more of the following actions whenever the Administrator determines that such action  is appropriate in order to (i) prevent dilution or enlargement of the benefits or potential benefits intended  by the Company to be made available under the Plan or with respect to any Award granted or issued  under the Plan, (ii) to facilitate such transaction or event or (iii) give effect to such changes in Applicable  Laws or accounting principles:    (i) To provide for the cancellation of any such Award in exchange for either  an amount of cash or other property with a value equal to the amount that could have been  obtained upon the exercise or settlement of such Award or realization of the Participant’s rights  had such Award been currently exercisable, payable and fully vested, as applicable; provided that,  if the amount that could have been obtained upon the exercise or settlement of such Award or  realization of the Participant’s rights, in any case, is equal to or less than zero, then such Award  may be terminated without payment;    (ii) To provide that such Award shall vest and, to the extent applicable, be  exercisable as to all shares covered thereby, notwithstanding anything to the contrary in the Plan  or the provisions of such Award;  (iii) To provide that such Award be assumed by the successor or survivor  corporation, or a parent or subsidiary thereof, or shall be substituted for by awards covering the  stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate  adjustments as to the number and kind of shares and applicable exercise or purchase price, in all  cases, as determined by the Administrator;    (iv) To make adjustments in the number and type of shares of Common Stock  (or other securities or property) subject to outstanding Awards, and/or in the terms and conditions  of (including the grant or exercise price), and the criteria included in, outstanding Awards which  may be granted in the future;    (v) To replace such Award with other rights or property selected by the  Administrator; and/or  (vi) To provide that the Award will terminate and cannot vest, be exercised  or become payable after the applicable event.  (c) In connection with the occurrence of any Equity Restructuring, and  notwithstanding anything to the contrary in this Section 8, the Administrator will equitably adjust each  outstanding Award, which adjustments may include adjustments to the number and type of securities  subject to each outstanding Award and/or the exercise price or grant price thereof, if applicable, the grant  of new Awards to Participants, and/or the making of a cash payment to Participants, as the Administrator  deems appropriate to reflect such Equity Restructuring.  The adjustments provided under this Section 8(c)  shall be nondiscretionary and shall be final and binding on the affected Participant and the Company;  provided that whether an adjustment is equitable shall be determined by the Administrator.   (d) In the event of any pending stock dividend, stock split, combination or exchange  of shares, merger, consolidation or other distribution (other than normal cash dividends) of Company  assets to stockholders, or any other change affecting the shares of Common Stock or the share price of the  Common Stock, including any Equity Restructuring, or if necessary to comply with Applicable Laws or  

 

7  the Code, or for reasons of administrative convenience, the Administrator may, in its sole discretion,  refuse to permit the exercise of any Award during a period of up to thirty days prior to the consummation  of any such transaction.     (e) Except as expressly provided in the Plan or pursuant to action of the  Administrator under the Plan, no Participant shall have any rights by reason of any subdivision or  consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the  number of shares of stock of any class or any dissolution, liquidation, merger, or consolidation of the  Company or any other corporation.  Except as expressly provided in the Plan or pursuant to action of the  Administrator under the Plan, no issuance by the Company of shares of stock of any class, or securities  convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be  made with respect to, the number of shares of Common Stock subject to an Award or the grant or exercise  price of any Award.  The existence of the Plan, any Award Agreements and the Awards granted  hereunder shall not affect or restrict in any way the right or power of the Company to make or authorize  (i) any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or  its business, (ii) any merger, consolidation dissolution or liquidation of the Company or sale of Company  assets or (iii) any sale or issuance of securities, including without limitation, securities with rights  superior to those of the Common Stock or which are convertible into or exchangeable for Common Stock.   The Administrator may treat Participants and Awards (or portions thereof) differently under this Section  8.  9. General Provisions Applicable to Awards.   (a) Transferability of Awards.    Except as the Administrator may otherwise  determine or provide in an Award Agreement or otherwise, in any case in accordance with Applicable  Laws, Awards, including any interest therein, may not be sold, assigned, transferred, pledged or otherwise  encumbered by the person to whom they are granted, either voluntarily or by operation of law, except by  will or the laws of descent and distribution, and, during the life of the Participant, shall be exercisable  only by the Participant. References to a Participant, to the extent relevant in the context, shall include  references to authorized transferees.   (b) Documentation.    Each Award shall be evidenced in an Award Agreement,  which may be in such form (written, electronic or otherwise) as the Administrator shall determine. Each  Award may contain terms and conditions in addition to those set forth in the Plan.   (c) Discretion.    Except as otherwise provided by the Plan, each Award may be  made alone or in addition or in relation to any other Award. The terms of each Award to a Participant  need not be identical, and the Administrator need not treat Participants or Awards (or portions thereof)  uniformly.   (d) Termination of Status.    The Administrator shall determine the effect on an  Award of the disability, death, retirement, authorized leave of absence or any other change or purported  change in a Participant’s Service Provider status and the extent to which, and the period during which, the  Participant, the Participant’s legal representative, conservator, guardian or Designated Beneficiary may  exercise rights under the Award, if applicable.   (e) Withholding.    Each Participant shall pay to the Company, or make provision  satisfactory to the Administrator for payment of, any taxes required by law to be withheld in connection  with Awards to such Participant no later than the date of the event creating the tax liability. Except as the  Administrator may otherwise determine, all such payments shall be made in cash, by wire transfer of  immediately available funds or by check, payable to the order of the Company.  Notwithstanding the  foregoing, Participants may satisfy such tax obligations, subject to Section 10(h), any Company insider  

 

8  trading policy (including blackout periods) and Applicable Laws, to the extent permitted by the  Administrator, (i) in whole or in part by delivery of shares of Common Stock, including shares of  Common Stock retained from the Award creating the tax obligation, valued at their Fair Market Value,  and (ii) if there is a public market for shares of Common Stock at the time the tax obligations are  satisfied, unless the Administrator otherwise determines, (A) delivery (including, without limitation,  telephonically to the extent permitted by the Company) of an irrevocable and unconditional undertaking  by a broker acceptable to the Company to deliver promptly to the Company sufficient funds to satisfy the  tax obligations, or (B) delivery by the Participant to the Company of a copy of irrevocable and  unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company  cash or a check sufficient to satisfy the tax withholding; provided that such amount is paid to the  Company at such time as may be required by the Administrator.  The number of shares of Common Stock  which may be so withheld or surrendered shall be limited to the number of shares of Common Stock  which have a Fair Market Value on the date of withholding or repurchase no greater than the aggregate  amount of such liabilities based on the minimum statutory withholding rates for federal, state, local and  foreign income tax and payroll tax purposes that are applicable to such supplemental taxable income. The  Company may, to the extent permitted by Applicable Laws, deduct any such tax obligations from any  payment of any kind otherwise due to a Participant.   (f) Amendment of Award.    The Administrator may amend, modify or terminate any  outstanding Award, including but not limited to, substituting therefor another Award of the same or a  different type, changing the date of exercise or settlement, and converting an Incentive Stock Option to a  Non-Qualified Stock Option.  The Participant’s consent to such action shall be required unless (i) the  Administrator determines that the action, taking into account any related action, would not materially and  adversely affect the Participant, or (ii) the change is permitted under Section 8 and 10(f) hereof.  (g) Conditions on Delivery of Stock.    The Company will not be obligated to deliver  any shares of Common Stock pursuant to the Plan or to remove restrictions from shares previously  delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction  of the Company, (ii) in the opinion of the Company’s counsel, all other legal matters in connection with  the issuance and delivery of such shares have been satisfied, including any applicable securities laws and  any applicable stock exchange or stock market rules and regulations, and (iii) the Participant has executed  and delivered to the Company such representations or agreements as the Administrator deems necessary  or appropriate to satisfy the requirements of any Applicable Laws. The inability of the Company to obtain  authority from any regulatory body having jurisdiction, which authority is determined by the  Administrator to be necessary to the lawful issuance and sale of any securities hereunder, shall relieve the  Company of any liability in respect of the failure to issue or sell such shares as to which such requisite  authority shall not have been obtained.  (h) Acceleration.    The Administrator may at any time provide that any Award shall  become vested and/or exercisable in full or in part, free of some or all restrictions or conditions, or  otherwise realizable in full or in part, as the case may be.   10. Miscellaneous.   (a) No Right To Employment or Other Status.   No person shall have any claim or  right to be granted an Award, and the grant of an Award shall not be construed as giving a Participant the  right to continued employment or any other relationship with the Company. The Company expressly  reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free  from any liability or claim under the Plan or any Award, except as expressly provided in an applicable  Award Agreement.   

 

9  (b) No Rights As Stockholder; Certificates.   Subject to the provisions of the  applicable Award Agreement, no Participant or Designated Beneficiary shall have any rights as a  stockholder with respect to any shares of Common Stock to be distributed with respect to an Award until  becoming the record holder of such shares. Notwithstanding any other provision of the Plan, unless  otherwise determined by the Administrator or required by any Applicable Laws, the Company shall not  be required to deliver to any Participant certificates evidencing shares of Common Stock issued in  connection with any Award and instead such shares of Common Stock may be recorded in the books of  the Company (or, as applicable, its transfer agent or stock plan administrator). The Company may place  legends on stock certificates issued under the Plan deemed necessary or appropriate by the Administrator  in order to comply with Applicable Laws.  (c) Effective Date and Term of Plan.    The Plan shall become effective on the date  on which it is adopted by the Board. No Awards shall be granted under the Plan after the completion of  ten years from the earlier of (i) the date on which the Plan was adopted by the Board or (ii) the date the  Plan was approved by the Company’s stockholders, but Awards previously granted may extend beyond  that date in accordance with the terms of the Plan.   (d) Amendment of Plan.    The Administrator may amend, suspend or terminate the  Plan or any portion thereof at any time; provided that no amendment of the Plan shall materially and  adversely affect (as determined by the Administrator) any Award outstanding at the time of such  amendment without the consent of the affected Participant. Awards outstanding under the Plan at the time  of any suspension or termination of the Plan shall continue to be governed in accordance with the terms of  the Plan and the applicable Award Agreement, as in effect prior to such suspension or termination.  The  Board shall obtain stockholder approval of any Plan amendment to the extent necessary to comply with  Applicable Laws.  (e) Provisions for Foreign Participants.  The Administrator may modify Awards  granted to Participants who are foreign nationals or employed outside the United States or establish  subplans or procedures under the Plan to address differences in laws, rules, regulations or customs of such  foreign jurisdictions with respect to tax, securities, currency, employee benefit or other matters.  

 

10  (f) Section 409A.    (i) General.  The Company intends that all Awards be structured in  compliance with, or to satisfy an exemption from, Section 409A, such that no adverse tax  consequences, interest, or penalties under Section 409A apply in connection with any Awards.   Notwithstanding anything herein or in any Award Agreement to the contrary, the Administrator  may, without a Participant’s prior consent, amend this Plan and/or Awards, adopt policies and  procedures, or take any other actions (including amendments, policies, procedures and actions  with retroactive effect) as are necessary or appropriate to preserve the intended tax treatment of  Awards under the Plan, including without limitation, any such actions intended to (A) exempt this  Plan and/or any Award from the application of Section 409A, and/or (B) comply with the  requirements of Section 409A, including without limitation any such regulations, guidance,  compliance programs and other interpretative authority that may be issued after the date of grant  of any Award. The Company makes no representations or warranties as to the tax treatment of  any Award under Section 409A or otherwise.  The Company shall have no obligation under this  Section 10(f) or otherwise to take any action (whether or not described herein) to avoid the  imposition of taxes, penalties or interest under Section 409A with respect to any Award and shall  have no liability to any Participant or any other person if any Award, compensation or other  benefits under the Plan are determined to constitute non-compliant, “nonqualified deferred  compensation” subject to the imposition of taxes, penalties and/or interest under Section 409A.  (ii) Separation from Service.  With respect to any Award that constitutes  “nonqualified deferred compensation” under Section 409A, any payment or settlement of such  Award that is to be made upon a termination of a Participant’s Service Provider relationship shall,  to the extent necessary to avoid the imposition of taxes under Section 409A, be made only upon  the Participant’s “separation from service” (within the meaning of Section 409A), whether such  “separation from service” occurs upon or subsequent to the termination of the Participant’s  Service Provider relationship. For purposes of any such provision of this Plan or any Award  Agreement relating to any such payments or benefits, references to a “termination,” “termination  of employment” or like terms shall mean “separation from service.”  (iii) Payments to Specified Employees.  Notwithstanding any contrary  provision in the Plan or any Award Agreement, any payment(s) of “nonqualified deferred  compensation” that are otherwise required to be made under an Award to a “specified employee”  (as defined under Section 409A and determined by the Administrator) as a result of his or her  “separation from service” shall, to the extent necessary to avoid the imposition of taxes under  Code Section 409A(a)(2)(B)(i), be delayed until the expiration of the six-month period  immediately following such “separation from service” (or, if earlier, until the date of death of the  specified employee) and shall instead be paid (in a manner set forth in the Award agreement) on  the day that immediately follows the end of such six-month period or as soon as administratively  practicable thereafter (without interest).  Any payments of “nonqualified deferred compensation”  under such Award that are, by their terms, payable more than six months following the  Participant’s “separation from service” shall be paid at the time or times such payments are  otherwise scheduled to be made.  (g) Limitations on Liability.  Notwithstanding any other provisions of the Plan, no  individual acting as a director, officer, other employee or agent of the Company will be liable to any  Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or  expense incurred in connection with the Plan or any Award, nor will such individual be personally liable  with respect to the Plan because of any contract or other instrument he or she executes in his or her  capacity as an Administrator, director, officer, other employee or agent of the Company.  The Company  

 

11  will indemnify and hold harmless each director, officer, other employee and agent of the Company to  whom any duty or power relating to the administration or interpretation of the Plan has been or will be  granted or delegated, against any cost or expense (including attorneys’ fees) or liability (including any  sum paid in settlement of a claim with the Administrator’s approval) arising out of any act or omission to  act concerning this Plan unless arising out of such person’s own fraud or bad faith.   (h) Lock-Up Period.  The Company may, at the request of any representative of the  underwriters or otherwise, in connection with any registration of the offering of any securities of the  Company under the Securities Act, prohibit Participants from, directly or indirectly, selling or otherwise  transferring any shares of Common Stock or other securities of the Company during a period of up to one  hundred eighty days following the effective date of a registration statement of the Company filed under  the Securities Act.  (i) Right of First Refusal.  (i) Before any shares of Common Stock held by a Participant or any  permitted transferee (each, a “Holder”) may be sold, pledged, assigned, hypothecated,  transferred, or otherwise disposed of (each, a “Transfer”), the Company or its assignee(s) shall  have a right of first refusal to purchase the shares of Common Stock proposed to be Transferred  on the terms and conditions set forth in this Section 10(i) (the “Right of First Refusal”).  In the  event that the Company’s charter, bylaws and/or a stockholders’ agreement applicable to the  shares of Common Stock contain a right of first refusal with respect to the shares of Common  Stock, such right of first refusal shall apply to the shares of Common Stock to the extent such  provisions are more restrictive than the Right of First Refusal set forth in this Section 10(i) and  the Right of First Refusal set forth in this Section 10(i) shall not in any way restrict the operation  of the Company’s charter, bylaws or the operation of any applicable stockholders’ agreement.  (ii) In the event any Holder desires to Transfer any shares of Common Stock,  the Holder shall deliver to the Company a written notice (the “Notice”) stating:  (A) the Holder’s  bona fide intention to sell or otherwise Transfer such shares of Common Stock; (B) the name of  each proposed purchaser or other transferee (“Proposed Transferee”); (C) the number of shares  of Common Stock to be Transferred to each Proposed Transferee; and (D) the price for which the  Holder proposes to Transfer the shares of Common Stock (the “Offered Price”), and the Holder  shall offer such shares of Common Stock at the Offered Price to the Company or its assignee(s).  (iii) Within twenty-five days after receipt of the Notice, the Company and/or  its assignee(s) may elect in writing to purchase all, but not less than all, of the shares of Common  Stock proposed to be Transferred to any one or more of the Proposed Transferees by delivery of a  written exercise notice to the Holder (a “Company Notice”).  The purchase price (“Purchase  Price”) for the shares of Common Stock repurchased under this Section 10(i) shall be the Offered  Price.  (iv) Payment of the Purchase Price shall be made, at the option of the  Company or its assignee(s), in cash (by check or wire transfer), by cancellation of all or a portion  of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by  an assignee, to the assignee), or by any combination thereof, within five days after delivery of the  Company Notice or in the manner and at the times mutually agreed to by the Company and the  Holder.  Should the Offered Price specified in the Notice be payable in property other than cash,  the Company or its assignee shall have the right to pay the purchase price in the form of cash  equal in amount to the value of such property, as determined by the Administrator.    

 

12  (v) If all or a portion of the shares of Common Stock proposed in the Notice  to be Transferred are not purchased by the Company and/or its assignee(s) as provided in this  Section 10(i), then the Holder may sell or otherwise Transfer such shares of Common Stock to  that Proposed Transferee at the Offered Price or at a higher price; provided that such sale or other  Transfer is consummated within sixty days after the date of the Notice; and provided, further, that  any such sale or other Transfer is effected in accordance with any Applicable Laws and the  Proposed Transferee agrees in writing that the provisions of this Plan and the applicable Award  Agreement and any other applicable agreements governing the shares of Common Stock to be  Transferred shall continue to apply to the shares of Common Stock in the hands of such Proposed  Transferee.  If the shares of Common Stock described in the Notice are not Transferred to the  Proposed Transferee within such sixty-day period, a new Notice shall be given to the Company,  and the Company and/or its assignees shall again be offered the Right of First Refusal, as  provided herein, before any shares of Common Stock held by the Holder may be sold or  otherwise Transferred.  (vi) Anything to the contrary contained in this Section 10(i) notwithstanding  and to the extent permitted by the Administrator, the Transfer of any or all of the shares of  Common Stock during a Participant’s lifetime or upon a Participant’s death by will or intestacy to  the Participant’s Immediate Family or a trust for the benefit of the Participant’s Immediate  Family shall be exempt from the Right of First Refusal.  As used herein, “Immediate Family”  shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister or stepchild  (whether or not adopted).  In such case, the transferee or other recipient shall receive and hold the  shares of Common Stock so Transferred subject to the provisions of this Plan (including the Right  of First Refusal), the applicable Award Agreement and any other applicable agreements  governing the shares of Common Stock to be Transferred, and there shall be no further Transfer  of such shares of Common Stock except in accordance with the terms of this Section 10(i) (or  otherwise as expressly provided under the Plan).  (vii) The Right of First Refusal shall terminate as to all shares of Common  Stock if the Company becomes a Publicly Listed Company upon such occurrence.  (j) Data Privacy.  As a condition of receipt of any Award, each Participant explicitly  and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal  data as described in this paragraph by and among, as applicable, the Company and its subsidiaries and  affiliates for the exclusive purpose of implementing, administering and managing the Participant’s  participation in the Plan.  The Company and its subsidiaries and affiliates may hold certain personal  information about a Participant, including but not limited to, the Participant’s name, home address and  telephone number, date of birth, social security or insurance number or other identification number,  salary, nationality, job title(s), any shares of stock held in the Company or any of its subsidiaries and  affiliates, details of all Awards, in each case, for the purpose of implementing, managing and  administering the Plan and Awards (the “Data”).  The Company and its subsidiaries and affiliates may  transfer the Data amongst themselves as necessary for the purpose of implementation, administration and  management of a Participant’s participation in the Plan, and the Company and its subsidiaries and  affiliates may each further transfer the Data to any third parties assisting the Company in the  implementation, administration and management of the Plan.  These recipients may be located in the  Participant’s country, or elsewhere, and the Participant’s country may have different data privacy laws  and protections than the recipients’ country.  Through acceptance of an Award, each Participant  authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form,  for the purposes of implementing, administering and managing the Participant’s participation in the Plan,  including any requisite transfer of such Data as may be required to a broker or other third party with  whom the Company or the Participant may elect to deposit any shares of Common Stock.  The Data  

 

13  related to a Participant will be held only as long as is necessary to implement, administer, and manage the  Participant’s participation in the Plan.  A Participant may, at any time, view the Data held by the  Company with respect to such Participant, request additional information about the storage and  processing of the Data with respect to such Participant, recommend any necessary corrections to the Data  with respect to the Participant or refuse or withdraw the consents herein in writing, in any case without  cost, by contacting his or her local human resources representative.  The Company may cancel  Participant’s ability to participate in the Plan and, in the Administrator’s discretion, the Participant may  forfeit any outstanding Awards if the Participant refuses or withdraws his or her consents as described  herein.  For more information on the consequences of refusal to consent or withdrawal of consent,  Participants may contact their local human resources representative.  (k) Severability.  In the event any portion of the Plan or any action taken pursuant  thereto shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the  remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid  provisions had not been included, and the illegal or invalid action shall be null and void.  (l) Governing Documents.  In the event of any contradiction between the Plan and  any Award Agreement or any other written agreement between a Participant and the Company or any  Subsidiary of the Company that has been approved by the Administrator, the terms of the Plan shall  govern, unless it is expressly specified in such Award Agreement or other written document that a  specific provision of the Plan shall not apply.  (m) Governing Law.  The provisions of the Plan and all Awards made hereunder shall  be governed by and interpreted in accordance with the laws of the State of Delaware, disregarding choice- of-law principles of the law of any state that would require the application of the laws of a jurisdiction  other than such state.  (n) Submission to Jurisdiction; Waiver of Jury Trial.  By accepting an Award, each  Participant irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the courts  of the State of Delaware and of the United States of America, in each case located in the State of  Delaware, for any action arising out of or relating to the Plan (and agrees not to commence any litigation  relating thereto except in such courts), and further agrees that service of any process, summons, notice or  document by U.S. registered mail to the address contained in the records of the Company shall be  effective service of process for any litigation brought against it in any such court.  By accepting an  Award, each Participant irrevocably and unconditionally waives any objection to the laying of venue of  any litigation arising out of Plan or Award hereunder in the courts of the State of Delaware or the United  States of America, in each case located in the State of Delaware, and further irrevocably and  unconditionally waives and agrees not to plead or claim in any such court that any such litigation brought  in any such court has been brought in an inconvenient forum.  By accepting an Award, each Participant  irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any and all  rights to trial by jury in connection with any litigation arising out of or relating to the Plan or any Award  hereunder.  (o) Restrictions on Shares; Claw-Back Provisions.  Awards and shares of Common  Stock acquired in respect of Awards shall be subject to such terms and conditions as the Administrator  shall determine, including, without limitation, restrictions on the transferability of shares of Common  Stock, the right of the Company to repurchase shares of Common Stock, the right of the Company to  require that shares of Common Stock be transferred in the event of certain transactions, tag-along rights,  bring-along rights, redemption and co-sale rights and voting requirements.  Such terms and conditions  may be additional to those contained in the Plan and may, as determined by the Administrator, be  contained in the applicable Award Agreement or in an exercise notice, stockholders’ agreement or in such  other agreement as the Administrator shall determine, in each case in a form determined by the  

 

14  Administrator.  The issuance of such shares of Common Stock shall be conditioned on the Participant’s  consent to such terms and conditions and the Participant’s entering into such agreement or agreements.   All Awards (including any proceeds, gains or other economic benefit actually or constructively received  by Participant upon any receipt or exercise of any Award or upon the receipt or resale of any shares of  Common Stock underlying the Award) shall be subject to the provisions of any claw-back policy  implemented by the Company, including, without limitation, any claw-back policy adopted to comply  with the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules  or regulations promulgated thereunder, to the extent set forth in such claw-back policy and/or in the  applicable Award Agreement.  A Participant shall, as a condition to receiving an Award, agree to execute  such further instruments and to take such further action as the Company requests to carry out the purposes  and intent of the Plan and any Award, including, without limitation, restrictions on the transferability of  shares of Common Stock, the right of the Company to repurchase shares of Common Stock, the right of  the Company to require that shares of Common Stock be transferred in the event of certain transactions,  tag-along rights, bring-along rights, redemption and co-sale rights and voting requirements in accordance  with Section 10(o) of the Plan.  (p) Titles and Headings.  The titles and headings of the Sections in the Plan are for  convenience of reference only and, in the event of any conflict, the text of the Plan, rather than such titles  or headings, shall control.  (q) Conformity to Securities Laws.  Participant acknowledges that the Plan is  intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange  Act and any and all regulations and rules promulgated by the Securities and Exchange Commission  thereunder, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the  Plan and all Awards granted hereunder shall be administered only in such a manner as to conform to such  laws, rules and regulations. To the extent permitted by Applicable Laws, the Plan and all Award  Agreements shall be deemed amended to the extent necessary to conform to such laws, rules and  regulations.  11. Definitions.  As used in the Plan, the following words and phrases shall have the  following meanings:  (a) “Administrator” means the Board or a Committee to the extent that the Board’s  powers or authority under the Plan have been delegated to such Committee.  (b) “Applicable Laws” means the requirements relating to the administration of  equity incentive plans under U.S. federal and state securities, tax and other applicable laws, rules and  regulations, the applicable rules of any stock exchange or quotation system on which the Common Stock  is listed or quoted and the applicable laws and rules of any foreign country or other jurisdiction where  Awards are granted or issued under the Plan.  (c)  “Award” means, individually or collectively, a grant under the Plan of Options,  Restricted Stock, Restricted Stock Units or Other Stock-Based Awards.  (d) “Award Agreement” means a written agreement evidencing an Award, which  agreements may be in electronic medium and shall contain such terms and conditions with respect to an  Award as the Administrator shall determine, consistent with and subject to the terms and conditions of the  Plan.  (e) “Board” means the Board of Directors of the Company.   

 

15  (f) “Cause,” with respect to a Participant, means “Cause” (or any term of similar  effect) as defined in such Participant’s employment agreement with the Company if such an agreement  exists and contains a definition of Cause (or term of similar effect), or, if no such agreement exists or such  agreement does not contain a definition of Cause (or term of similar effect), then Cause shall include, but  not be limited to: (i) the Participant’s unauthorized use or disclosure of confidential information or trade  secrets of the Company or any material breach of a written agreement between the Participant and the  Company, including without limitation a material breach of any employment, confidentiality, non- compete, non-solicit or similar agreement; (ii) the Participant’s commission of, indictment for or the entry  of a plea of guilty or nolo contendere by the Participant to, a felony under the laws of the United States or  any state thereof or any crime involving dishonesty or moral turpitude (or any similar crime in any  jurisdiction outside the United States); (iii) the Participant’s gross negligence or willful misconduct or the  Participant’s willful or repeated failure or refusal to substantially perform assigned duties; (iv) any act of  fraud, embezzlement, material misappropriation or dishonesty committed by the Participant against the  Company; or (v) any acts, omissions or statements by a Participant which the Company reasonably  determines to be materially detrimental or damaging to the reputation, operations, prospects or business  relations of the Company.  (g) “Change in Control” means (i) a merger or consolidation of the Company with  or into any other corporation or other entity or person, (ii) a sale, lease, exchange or other transfer in one  transaction or a series of related transactions of all or substantially all of the Company’s assets, or (iii) any  other transaction, including the sale by the Company of new shares of its capital stock or a transfer of  existing shares of capital stock of the Company, the result of which is that a third party that is not an  affiliate of the Company or its stockholders (or a group of third parties not affiliated with the Company or  its stockholders) immediately prior to such transaction acquires or holds capital stock of the Company  representing a majority of the Company’s outstanding voting power immediately following such  transaction; provided that the following events shall not constitute a “Change in Control”: (A) a  transaction (other than a sale of all or substantially all of the Company’s assets) in which the holders of  the voting securities of the Company immediately prior to the merger or consolidation hold, directly or  indirectly, at least a majority of the voting securities in the successor corporation or its parent  immediately after the merger or consolidation; (B) a sale, lease, exchange or other transaction in one  transaction or a series of related transactions of all or substantially all of the Company’s assets to an  affiliate of the Company; (C) an initial public offering of any of the Company’s securities or any other  transaction or series of related transactions principally for bona fide equity financing purposes; (D) a  reincorporation of the Company solely to change its jurisdiction; (E) a transaction undertaken for the  primary purpose of creating a holding company that will be owned in substantially the same proportion  by the persons who held the Company’s securities immediately before such transaction; or (F) a  transaction or series of related transactions principally for bona fide equity financing purposes in which  cash is received by the Company or any successor or indebtedness of the Company is cancelled or  converted, or a combination thereof.  Notwithstanding the foregoing, if a Change in Control would give  rise to a payment or settlement event with respect to any Award that constitutes “nonqualified deferred  compensation,” the transaction or event constituting the Change in Control must also constitute a “change  in control event” (as defined in Treasury Regulation §1.409A-3(i)(5)) in order to give rise to the payment  or settlement event for such Award, to the extent required by Section 409A.  (h) “Code” means the Internal Revenue Code of 1986, as amended, and the  regulations issued thereunder.    (i) “Committee” means one or more committees or subcommittees of the Board,  which may be comprised of one or more directors and/or executive officers of the Company, in either  case, to the extent permitted in accordance with Applicable Laws.  (j) “Common Stock” means the common stock of the Company.   

 

16  (k) “Company” means SNP Bio, Inc., a Delaware corporation, or any successor  thereto. Except where the context otherwise requires, the term “Company” includes any of the Company’s  present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Code and any  other business venture (including, without limitation, joint venture or limited liability company) in which  the Company has a significant interest, as determined by the Administrator.  (l) “Consultant” means any person, including any advisor, engaged by the  Company or a parent or subsidiary of the Company to render services to such entity.  (m) “Designated Beneficiary” means the beneficiary or beneficiaries designated, in a  manner determined by the Administrator, by a Participant to receive amounts due or exercise rights of the  Participant in the event of the Participant’s death or incapacity   In the absence of an effective designation  by a Participant, “Designated Beneficiary” shall mean the Participant’s estate.  (n) “Director” means a member of the Board.  (o) “Disability” means a permanent and total disability within the meaning of  Section 22(e)(3) of the Code, as it may be amended from time to time.  (p) “Dividend Equivalents” means a right granted to a Participant pursuant to  Section 6(d)(3) hereof to receive the equivalent value (in cash or shares of Common Stock) of dividends  paid on shares of Common Stock.  (q) “Employee” means any person, including officers and Directors, employed by  the Company (within the meaning of Section 3401(c) of the Code) or any parent or subsidiary of the  Company.  (r) “Equity Restructuring” means, as determined by the Administrator, a non- reciprocal transaction between the Company and its stockholders, such as a stock dividend, stock split,  spin-off or recapitalization through a large, nonrecurring cash dividend, that affects the shares of  Common Stock (or other securities of the Company) or the share price of Common Stock (or other  securities of the Company) and causes a change in the per share value of the Common Stock underlying  outstanding Awards.  (s) “Exchange Act” means the Securities Exchange Act of 1934, as amended.  (t) “Fair Market Value” means, as of any date, the value of Stock determined as  follows:  (i) if the Common Stock is listed on any established stock exchange, its Fair Market Value shall  be the closing sales price for such Common Stock as quoted on such exchange for such date, or if no sale  occurred on such date, the first market trading day immediately prior to such date during which a sale  occurred, as reported in The Wall Street Journal or such other source as the Administrator deems reliable;  (ii) if the Common Stock is not traded on a stock exchange but is quoted on a national market or other  quotation system, the last sales price on such date, or if no sales occurred on such date, then on the date  immediately prior to such date on which sales prices are reported, as reported in The Wall Street Journal  or such other source as the Administrator deems reliable; or (iii) in the absence of an established market  for the Common Stock, the Fair Market Value thereof shall be determined by the Administrator.  (u) “Good Reason” shall mean (a) a change in the Participant’s position with the  Company (or its subsidiary employing the Participant) that materially reduces the Participant’s authority,  duties or responsibilities, (b) a material diminution in the Participant’s level of base compensation, except  in connection with a general reduction in the base compensation of the Company’s personnel with similar  status and responsibilities or (c) a relocation of the Participant’s place of employment by more than 50  

 

17  miles, provided that such change, reduction or relocation is effected by the Company (or its subsidiary  employing the Participant) without the Participant’s consent.  Notwithstanding the foregoing, Good  Reason shall only exist if Participant shall have provided the Company with written notice within sixty  (60) days of the initial occurrence of any of the foregoing events or conditions, and the Company or any  successor or affiliate fails to eliminate the conditions constituting Good Reason within thirty (30) days  after receipt of written notice of such event or condition from Participant.  Participant's resignation from  employment with the Company for “Good Reason” must occur within six (6) months following the initial  occurrence of one of the foregoing events or conditions.  Notwithstanding the foregoing, if Participant is a  party to a written employment or consulting agreement with the Company (or its subsidiary) in which the  term “good reason” is defined, then “Good Reason” shall be as such term is defined in the applicable  written employment or consulting agreement.  (v) “Incentive Stock Option” means an “incentive stock option” as defined in  Section 422 of the Code.  (w) “Non-Qualified Stock Option” means an Option that is not intended to be or  otherwise does not qualify as an Incentive Stock Option.  (x) “Option” means an option to purchase Common Stock.  (y) “Other Stock-Based Awards” means other Awards of shares of Common Stock,  and other Awards that are valued in whole or in part by reference to, or are otherwise based on, shares of  Common Stock or other property.  (z) “Participant” means a Service Provider who has been granted an Award under  the Plan.  (aa) “Plan” means this 2018 Equity Incentive Plan.  (bb) “Publicly Listed Company” means that the Company or its successor (i) is  required to file periodic reports pursuant to Section 12 of the Exchange Act and (ii) the Common Stock is  listed on one or more National Securities Exchanges (within the meaning of the Exchange Act) or is  quoted on NASDAQ or a successor quotation system.  (cc) “Restricted Stock” means Common Stock awarded to a Participant pursuant to  Section 6 hereof that is subject to certain vesting conditions and other restrictions.  (dd) “Restricted Stock Unit” means an unfunded, unsecured right to receive, on the  applicable settlement date, one share of Common Stock or an amount in cash or other consideration  determined by the Administrator equal to the value thereof as of such payment date, which right may be  subject to certain vesting conditions and other restrictions.   (ee) “Section 409A” means Section 409A of the Code and all regulations, guidance,  compliance programs and other interpretative authority thereunder.  (ff) “Securities Act” means the Securities Act of 1933, as amended from time to  time.  (gg) “Service Provider” means an Employee, Consultant or Director.  (hh) “Termination of Service” means the date the Participant ceases to be a Service  Provider. 

 

CS-1    SNP BIO, INC.  2018 EQUITY INCENTIVE PLAN   CALIFORNIA SUPPLEMENT   The Administrator has adopted this supplement for purposes of satisfying the requirements of  Section 25102(o) of the California Corporations Code and the regulations issued thereunder (“Section  25102(o)”).  Notwithstanding anything to the contrary contained in the Plan and except as otherwise  determined by the Administrator, the provisions set forth in this supplement shall apply to all Awards  granted under the Plan to a Participant who is a resident of the State of California on the date of grant (a  “California Participant”) and which are intended to be exempt from registration in California pursuant to  Section 25102(o).  This supplement shall not apply to Awards granted to California Participants or after  the date on which the Company becomes a Publicly Listed Company.  Definitions in the Plan are  applicable to this supplement.    1. Limitation on Securities Issuable under the Plan.  The amount of securities issued  pursuant to the Plan shall not exceed the amounts permitted under section 260.140.45 of the California  Code of Regulations to the extent applicable.  2. Additional Limitations On Options.   (a) Maximum Duration of Options.  No Options granted to California Participants  will be granted for a term in excess of 10 years.   (b) Minimum Exercise Period Following Termination.  Unless a California  Participant’s Service Provider relationship is terminated for Cause, in the event of termination of such  Participant’s Service Provider relationship, to the extent required by Applicable Laws, he or she shall  have the right to exercise an Option, to the extent that he or she was otherwise entitled to exercise such  Option on the date employment terminated, as follows: (i) at least six months from the date of  termination, if termination was caused by such Participant’s death or Disability and (ii) at least 30 days  from the date of termination, if termination was caused other than by such Participant’s death or  Disability.   3. Additional Limitations For Restricted Stock Awards, Restricted Stock Units and Other  Stock-Based Awards.  The terms of all Awards granted to California Participants shall comply, to the  extent applicable, with Section 260.140.41 and Section 260.140.42 of the California Code of Regulations.   4. Adjustments.  The Administrator will make such adjustments to an Award held by a  California Participant as may be required by Section 260.140.41 or Section 260.140.42 of the California  Code of Regulations.   5. Additional Requirement To Provide Information To California Participants.  To the  extent required by Section 260.140.46 of the California Code of Regulations, the Company shall provide  to each California Participant and to each California Participant who acquires Common Stock pursuant to  the Plan, not less frequently than annually, copies of annual financial statements (which need not be  audited). The Company shall not be required to provide such statements to key persons whose duties in  connection with the Company assure their access to equivalent information.  In addition, this information  requirement shall not apply to the Plan to the extent that it complies with all conditions of Rule 701 of the  Securities Act (“Rule 701”) as determined by the Administrator; provided that for purposes of  

 

CS-2  determining such compliance, any registered domestic partner shall be considered a “family member” as  that term is defined in Rule 701.   6. Stockholder Approval; Additional Limitations On Timing Of Awards.  The Plan will be  submitted for the approval of the Company’s stockholders within twelve (12) months after the date of the  Board’s adoption of the Plan.  Awards may be granted or awarded prior to such stockholder approval;  provided that no Award granted to a California Participant shall become exercisable, vested or realizable,  as applicable to such Award, unless the Plan has been approved by the Company’s stockholders within  twelve months before or after the date the Plan was adopted by the Administrator; and provided, further,  that if such approval has not been obtained at the end of said twelve-month period, all Awards previously  granted or awarded under the Plan to California Participants shall thereupon be canceled and become null  and void.       

 

    AMENDMENT NO. 1  TO THE  STRATIFY GENOMICS INC. 2018 EQUITY INCENTIVE PLAN  THIS AMENDMENT NO. 1 TO THE STRATIFY GENOMICS INC. 2018 EQUITY  INCENTIVE PLAN (this “Amendment”), dated as of          , 2019, is made and adopted by  STRATIFY GENOMICS INC., a Delaware corporation (the “Company”).  Capitalized terms used  but not otherwise defined herein shall have the meanings ascribed to them in the Plan (as defined  below).  RECITALS  WHEREAS, the Company has adopted the Stratify Genomics Inc. 2018 Equity Incentive  Plan (the “Plan”);  WHEREAS, the Company desires to amend the Plan as set forth below;  WHEREAS, pursuant to Section 10(d) of the Plan, the Plan may be amended by the Board  of Directors of the Company; and  WHEREAS, the Board of Directors of the Company has approved this Amendment  pursuant to resolutions adopted on           , 2019, and the stockholders of the Company have  approved this Amendment pursuant to resolutions adopted on           , 2019.  NOW, THEREFORE, in consideration of the foregoing, the Company hereby amends the  Plan as follows:  1. The first sentence of Section 4 of the Plan is hereby amended to read as follows:  “Subject to adjustment under Section 8 hereof, Awards may be made under the  Plan covering up to 9,230,000 shares of Common Stock.”  2. This Amendment shall be and is hereby incorporated in and forms a part of the  Plan.  All other terms and provisions of the Plan shall remain unchanged except as  specifically modified herein.  The Plan, as amended by this Amendment, is hereby  ratified and confirmed.    [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]     

 

  I hereby certify that the foregoing Amendment was duly adopted by the Board of Directors  of Stratify Genomics Inc. on           , 2019, and duly approved by the stockholders of Stratify  Genomics Inc. on           , 2019.    By:  /s/ Martyn Gross   Name: Martyn Gross  Title: President  

 

    AMENDMENT NO. 2 TO THE  STRATIFY GENOMICS INC. 2018 EQUITY INCENTIVE PLAN  THIS AMENDMENT NO.  2 TO THE STRATIFY GENOMICS INC.  2018 EQUITY  INCENTIVE PLAN (this “Plan Amendment No. 2”), dated as of May 15, 2020, is made and  adopted by STRATIFY GENOMICS INC., a Delaware corporation (the “Company”).  Capitalized  terms used but not otherwise defined herein shall have the meanings ascribed to them in the Plan  (as defined below).  RECITALS  WHEREAS, the Company has previously adopted the Stratify Genomics Inc. 2018 Equity  Incentive Plan (as subsequently amended, the “Plan”);  WHEREAS, the Company previously amended the Plan pursuant to that certain  Amendment No. 1 to the Corporation’s 2018 Equity Incentive Plan, which, among other things,  decreased the total number of shares issuable under the 2018 Equity Incentive Plan to 9,230,000  shares;  WHEREAS, the Company now desires to amend the Plan to increase the available shares  that are issuable under the Plan as set forth below;  WHEREAS, pursuant to Section 10(d) of the Plan, the Plan may be amended by the Board  of Directors of the Company; and  WHEREAS, the Board of Directors of the Company has approved this Plan Amendment  No. 2 pursuant to resolutions adopted on May 15, 2020 and has submitted this Plan Amendment  No. 2 to the stockholders of the Company for their approval.  NOW, THEREFORE, in consideration of the foregoing, the Company hereby amends the  Plan as follows:  1. The first sentence of Section 4 of the Plan is hereby amended to read as follows:   Subject to adjustment under Section 8 hereof, Awards may be made under  the Plan covering up to 11 million (11,000,000) shares of Common Stock.”  2. This Plan Amendment No. 2 shall be and is hereby incorporated in and forms a part  of the Plan.  All other terms and provisions of the Plan shall remain unchanged  except as specifically modified herein.  The Plan, as amended by this Plan  Amendment No. 2, is hereby ratified and confirmed.    [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]  

 

    I hereby certify that the foregoing Amendment No. 2 to the Stratify Genomics Inc. 2018  Equity Incentive Plan was duly adopted by the Board of Directors of Stratify Genomics Inc. on  May 15, 2020, and has been submitted for approval by the stockholders of Stratify Genomics Inc.    By:  /s/ Dalaura Kader   Name:  Dalaura Kader  Title:  President

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