Document:

Exhibit 10.1

 

 

Zhihu
Inc.

 

2022 SHARE INCENTIVE PLAN

 

Article 1

 

PURPOSE

 

The purpose of this 2022 Share
Incentive Plan is to promote the success and enhance the value of Zhihu Inc., an exempted company formed under the laws of the Cayman
Islands (the “Company”), by linking the personal interests of the Directors, Employees, and Consultants to those of
the Company’s shareholders and by providing such individuals with an incentive for outstanding performance to generate superior
returns to the Company’s shareholders. The Plan is further intended to provide flexibility to the Company in its ability to motivate,
attract, and retain the services of the Directors, Employees, and Consultants upon whose judgment, interest, and special effort the successful
conduct of the Company’s operation is largely dependent.

 

Article 2

 

DEFINITIONS AND CONSTRUCTION

 

Wherever the following terms
are used in the Plan they shall have the meanings specified below, unless the context clearly indicates otherwise. The singular pronoun
shall include the plural where the context so indicates.

 

2.1           “Applicable
Laws” means the legal requirements relating to the Plan and the Awards under applicable provisions of the corporate, securities,
tax and other laws, rules, regulations and government orders, and the rules of any applicable stock exchange or national market system,
of any jurisdiction applicable to Awards granted to residents therein.

 

2.2           “Award”
means an Option or Restricted Share Unit award or other types of award approved by the Committee granted to a Participant pursuant to
the Plan.

 

2.3           “Award
Agreement” means any written agreement, contract, or other instrument or document evidencing an Award, including through electronic
medium.

 

2.4           “Board”
means the board of directors of the Company.

 

2.5           “Cause”
with respect to a Participant means (unless otherwise expressly provided in the applicable Award Agreement, or another applicable contract
with the Participant that defines such term for purposes of determining the effect that a “for cause” termination has on the
Participant’s Awards) a termination of employment or service based upon a finding by the Service Recipient, acting in good faith
and based on its reasonable belief at the time, that the Participant:

 

(a)            has
been negligent in the discharge of his or her duties to the Service Recipient, has refused to perform stated or assigned duties or is
incompetent in or (other than by reason of a disability or analogous condition) incapable of performing those duties;

 

    

     

    

 

(b)            has
been dishonest or committed or engaged in an act of theft, embezzlement or fraud, a breach of confidentiality, an unauthorized disclosure
or use of inside information, customer lists, trade secrets or other confidential information;

 

(c)            has
breached a fiduciary duty, or willfully and materially violated any other duty, law, rule, regulation or policy of the Service Recipient;
or has been convicted of, or plead guilty or nolo contendere to, a felony or misdemeanor (other than minor traffic violations or similar
offenses);

 

(d)            has
materially breached any of the provisions of any agreement with the Service Recipient;

 

(e)            has
engaged in unfair competition with, or otherwise acted intentionally in a manner injurious to the reputation, business or assets of, the
Service Recipient; or

 

(f)            has
improperly induced a vendor or customer to break or terminate any contract with the Service Recipient or induced a principal for whom
the Service Recipient acts as agent to terminate such agency relationship.

 

A termination for Cause shall
be deemed to occur (subject to reinstatement upon a contrary final determination by the Committee) on the date on which the Service Recipient
first delivers written notice to the Participant of a finding of termination for Cause.

 

2.6           “Code”
means the Internal Revenue Code of 1986 of the United States, as amended.

 

2.7           “Committee”
means a committee of the Board described in Article 9.

 

2.8           “Consultant”
means any consultant or adviser if: (a) the consultant or adviser renders bona fide services to a Service Recipient; (b) the
services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction
and do not directly or indirectly promote or maintain a market for the Company’s securities; and (c) the consultant or adviser
is a natural person who has contracted directly with the Service Recipient to render such services.

 

2.9           “Corporate
Transaction”, unless otherwise defined in an Award Agreement, means any of the following transactions, provided, however,
that the Committee shall determine under (d) and (e) whether multiple transactions are related, and its determination shall
be final, binding and conclusive:

 

(a)            an
amalgamation, arrangement or consolidation or scheme of arrangement (i) in which the Company is not the surviving entity, except
for a transaction the principal purpose of which is to change the jurisdiction in which the Company is incorporated or (ii) following
which the holders of the voting securities of the Company do not continue to hold more than 50% of the combined voting power of the voting
securities of the surviving entity;

 

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(b)            the
sale, transfer or other disposition of all or substantially all of the assets of the Company;

 

(c)            the
complete liquidation or dissolution of the Company;

 

(d)            any
reverse takeover or series of related transactions culminating in a reverse takeover (including, but not limited to, a tender offer followed
by a reverse takeover) in which the Company is the surviving entity but (A) the Company’s equity securities outstanding immediately
prior to such takeover are converted or exchanged by virtue of the takeover into other property, whether in the form of securities, cash
or otherwise, or (B) in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s
outstanding securities are transferred to a person or persons different from those who held such securities immediately prior to such
takeover or the initial transaction culminating in such takeover, but excluding any such transaction or series of related transactions
that the Committee determines shall not be a Corporate Transaction; or

 

(e)            acquisition
in a single or series of related transactions by any person or related group of persons (other than the Company or by a Company-sponsored
employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more
than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities but excluding any such transaction
or series of related transactions that the Committee determines shall not be a Corporate Transaction.

 

2.10         “Director”,
means a member of the Board or a member of the board of directors of any Subsidiary of the Company.

 

2.11         “Disability”,
unless otherwise defined in an Award Agreement, means that the Participant qualifies to receive long-term disability payments under the
Service Recipient’s long-term disability insurance program, as it may be amended from time to time, to which the Participant provides
services regardless of whether the Participant is covered by such policy. If the Service Recipient to which the Participant provides service
does not have a long-term disability plan in place, “Disability” means that a Participant is unable to carry out the responsibilities
and functions of the position held by the Participant by reason of any medically determinable physical or mental impairment for a period
of not less than ninety (90) consecutive days. A Participant will not be considered to have incurred a Disability unless he or she furnishes
proof of such impairment sufficient to satisfy the Committee in its discretion.

 

2.12         “Effective
Date” shall have the meaning set forth in Section 10.1.

 

2.13         “Employee”
means any person, including an officer or a Director, who is in the employment of a Service Recipient, subject to the control and direction
of the Service Recipient as to both the work to be performed and the manner and method of performance. The payment of a director’s
fee by a Service Recipient shall not be sufficient to constitute “employment” by the Service Recipient.

 

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

 

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2.15         “Fair
Market Value” means, as of any date, the value of Shares determined as follows:

 

(a)            If
the Shares are listed on one or more established stock exchanges or national market systems, including without limitation, the New York
Stock Exchange, the Nasdaq Stock Market or the Stock Exchange of Hong Kong Limited, its Fair Market Value shall be the higher of: (i) the
closing sales price for such shares (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on which
the Shares are listed (as determined by the Committee) on the date of determination (or, if no closing sales price or closing bid was
reported on that date, as applicable, on the last trading date such closing sales price or closing bid was reported), and (ii) the
average closing sales price (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on which the
Shares are listed (as determined by the Committee) for the five business days immediately preceding the date of determination, as reported
on the website maintained by such exchange or market system or such other source as the Committee deems reliable;

 

(b)            If
the Shares are not listed on one or more established stock exchanges or national market systems but are regularly quoted on an automated
quotation system (including the OTC Bulletin Board) or by a recognized securities dealer, its Fair Market Value shall be the closing sales
price for such Shares as quoted on such system or by such securities dealer on the date of determination, but if selling prices are not
reported, the Fair Market Value of a Share shall be the mean between the high bid and low asked prices for the Shares on the date of determination
(or, if no such prices were reported on that date, on the last date such prices were reported), as reported in The Wall Street Journal
or such other source as the Committee deems reliable; or

 

(c)            In
the absence of an established market for the Shares of the type described in (a) and (b) above, the Fair Market Value thereof
shall be determined by the Committee in good faith and in its discretion by reference to (i) the placing price of the latest private
placement of the Shares and the development of the Company’s business operations and the general economic and market conditions
since such latest private placement, (ii) other third party transactions involving the Shares and the development of the Company’s
business operation and the general economic and market conditions since such transaction, (iii) an independent valuation of the Shares,
or (iv) such other methodologies or information as the Committee determines to be indicative of Fair Market Value.

 

2.16         “Group
Entity” means any of the Company and Subsidiaries of the Company.

 

2.17         “Incentive
Share Option” means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision
thereto.

 

2.18         “Independent
Director” means (i) if the Shares or other securities representing the Shares are not listed on a stock exchange, a Director
of the Company who is a Non-Employee Director; and (ii) if the Shares or other securities representing the Shares are listed on one
or more stock exchange, a Director of the Company who meets the independence standards under the applicable corporate governance rules of
the stock exchange(s).

 

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2.19         “Non-Employee
Director” means a member of the Board who qualifies as a “Non-Employee Director” as defined in Rule 16b-3(b)(3) of
the Exchange Act, or any successor definition adopted by the Board.

 

2.20         “Non-Qualified
Share Option” means an Option that is not intended to be an Incentive Share Option.

 

2.21         “Option”
means a right granted to a Participant pursuant to Article 5 of the Plan to purchase a specified number of Shares at a specified
price during specified time periods. An Option may be either an Incentive Share Option or a Non-Qualified Share Option.

 

2.22         “Participant”
means a person who, as a Director, Consultant or Employee, has been granted an Award pursuant to the Plan.

 

2.23         “Parent”
means a parent corporation under Section 424(e) of the Code.

 

2.24         “Plan”
means this 2022 Share Incentive Plan of Zhihu Inc., as amended and/or restated from time to time.

 

2.25         “Related
Entity” means any business, corporation, partnership, limited liability company or other entity in which the Company, a Parent
or Subsidiary of the Company holds a substantial ownership interest, directly or indirectly, or controls through contractual arrangements
and consolidates the financial results according to applicable accounting standards, but which is not a Subsidiary and which the Board
designates as a Related Entity for purposes of the Plan.

 

2.26         “Restricted
Share Unit” means the right granted to a Participant pursuant to Article 6.

 

2.27         “Securities
Act” means the Securities Act of 1933 of the United States, as amended.

 

2.28         “Service
Recipient” means the Company or Subsidiary of the Company to which a Participant provides services as an Employee, a Consultant
or a Director.

 

2.29         “Share”
means the class A ordinary shares of the Company, par value US$0.000125 per share, and such other securities of the Company that may be
substituted for Shares pursuant to Article 8.

 

2.30         “Subsidiary”
means any corporation or other entity of which a majority of the outstanding voting shares or voting power is beneficially owned or controlled
through contractual arrangements directly or indirectly by the Company.

 

2.31         “Trading
Date” means the closing of the first sale to the general public of the Shares pursuant to a registration statement filed with
and declared effective by the U.S. Securities and Exchange Commission under the Securities Act.

 

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Article 3

 

SHARES SUBJECT TO THE PLAN

 

3.1            Number
of Shares.

 

(a)            Subject
to the provisions of Article 8 and Section 3.1(b), the maximum aggregate number of Shares which may be issued pursuant to all
Awards (including Incentive Share Options) (the “Award Pool”) under the Plan shall be
the sum of (i) a maximum of 13,042,731 Shares which may be issued pursuant
to Awards in the form of Options (the “Option Grant Limit”), and (ii)(A) a maximum of 26,085,463
Shares and (B) such number of Shares equivalent to the unused portion of the scheme limit of the 2012 Share Incentive Plan
of the Company as at the expiry of such plan, which may be issued pursuant to Awards in the form of Restricted Share Units (the “Restricted
Share Unit Grant Limit”). The Award Pool, including the Option Grant Limit and the Restricted Share Unit Grant Limit, shall
be equitably adjusted in the event of any share dividend, subdivision, reclassification, recapitalization, split, reverse split, combination,
consolidation or similar transactions.

 

(b)            To
the extent that an Award terminates, expires, or lapses for any reason, any Shares subject to the Award shall again be available for the
grant of an Award pursuant to the Plan. To the extent permitted by Applicable Laws, Shares issued in assumption of, or in substitution
for, any outstanding awards of any entity acquired in any form or combination by a Group Entity shall not be counted against Shares available
for grant pursuant to the Plan. Shares delivered by the Participant or withheld by the Company upon the exercise of any Award under the
Plan, in payment of the exercise price thereof or tax withholding thereon, may again be optioned, granted or awarded hereunder, subject
to the limitations of Section 3.1(a). Notwithstanding the provisions of this Section 3.1(b), no Shares may again be optioned,
granted or awarded if such action would cause an Incentive Share Option to fail to qualify as an incentive share option under Section 422
of the Code.

 

3.2            Shares
Distributed. Any Shares distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Shares, treasury
Shares (subject to Applicable Laws) or Shares purchased on the open market. Additionally, at the discretion of the Committee, any Shares
distributed pursuant to an Award may be represented by American Depository Shares. If the number of Shares represented by an American
Depository Share is other than on a one-to-one basis, the limitations of Section 3.1 shall be adjusted to reflect the distribution
of American Depository Shares in lieu of Shares.

 

Article 4

 

ELIGIBILITY AND PARTICIPATION

 

4.1            Eligibility.
Persons eligible to participate in this Plan include Employees, Consultants, and Directors, as determined by the Committee.

 

4.2            Participation.
Subject to the provisions of the Plan, the Committee may, from time to time, select from among all eligible individuals, those to whom
Awards shall be granted and shall determine the nature and amount of each Award. No individual shall have any right to be granted an Award
pursuant to this Plan.

 

4.3            Jurisdictions.
In order to assure the viability of Awards granted to Participants employed in various jurisdictions, the Committee may provide for such
special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy, or custom applicable in
the jurisdiction in which the Participant resides, is employed, operates or is incorporated. Moreover, the Committee may approve such
supplements to, or amendments, restatements, or alternative versions of, the Plan as it may consider necessary or appropriate for such
purposes without thereby affecting the terms of the Plan as in effect for any other purpose; provided, however, that no such supplements,
amendments, restatements, or alternative versions shall increase the share limitations contained in Section 3.1 of the Plan. Notwithstanding
the foregoing, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate any Applicable Laws.

 

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Article 5

 

OPTIONS

 

5.1            General.
The Committee is authorized to grant Options to Participants on the following terms and conditions:

 

(a)           Timing
of grant. No Option shall be granted to any Participant in circumstances prohibited by any Applicable Laws or at a time when the Participant
would or might be prohibited from dealing in the Shares by any Applicable Laws. No Option shall be granted to any Participant where such
person is in possession of any unpublished inside information in relation to the Company until such inside information has been published
in an announcement in accordance with the Applicable Laws. Furthermore, no Option shall be granted:

 

(i)            during
the period of 60 days immediately preceding the publication date of the annual results of the Company or, if shorter, the period from
the end of the relevant financial year up to the publication date of such results; and

 

(ii)            during
the period of 30 days immediately preceding the publication date of the half-year results of the Company or, if shorter, the period from
the end of the relevant half-year period up to the publication date of such results.

 

Such period will also cover any period
of delay in the publication of any results announcement.

 

(b)           Maximum
Individual Limit. Unless approved by the Company’s shareholders in general meeting, the total number of Shares issued and to
be issued upon the exercise of Options granted and to be granted under the Plan and any other plan of the Company to a Participant within
any 12-month period shall not exceed 1% of the Shares issued and outstanding at the date of any grant.

 

(c)           Exercise
Price. The exercise price per Share subject to an Option shall be determined by the Committee and set forth in the Award Agreement
which shall not be lower than the Fair Market Value of the Shares on the date of grant. The exercise price per Share subject to an Option
may be amended or adjusted in the absolute discretion of the Committee, the determination of which shall be final, binding and conclusive,
provided the new exercise price shall not be lower than the Fair Market Value of the Shares on the date of grant. For the avoidance of
doubt, to the extent not prohibited by Applicable Laws or any exchange rule, a downward adjustment of the exercise prices of Options mentioned
in the preceding sentence shall be effective without the approval of the Company’s shareholders or the approval of the affected
Participants.

 

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(d)           Time
and Conditions of Exercise. The Committee shall determine the time or times at which an Option may be exercised in whole or in part,
including exercise prior to vesting; provided that the term of any Option granted under the Plan shall not exceed ten years, except
as provided in Section 11.1. The Committee shall also determine any conditions, if any, that must be satisfied before all or part
of an Option may be exercised. Any Option granted but not exercised by the end of its term will automatically lapse and be cancelled.

 

(e)           Payment.
The Committee shall determine the methods by which the exercise price of an Option may be paid, the form of payment, including, without
limitation (i) cash or check denominated in U.S. Dollars, (ii) to the extent permissible under the Applicable Laws, cash or
check in Chinese Renminbi, (iii) cash or check denominated in any other local currency as approved by the Committee, (iv) Shares
held for such period of time as may be required by the Committee in order to avoid adverse financial accounting consequences and having
a Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof, (v) after
the Trading Date the delivery of a notice that the Participant has placed a market sell order with a broker with respect to Shares then
issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale
to the Company in satisfaction of the Option exercise price; provided that payment of such proceeds is then made to the Company
upon settlement of such sale, (vi) other property acceptable to the Committee with a Fair Market Value equal to the exercise price,
or (vii) any combination of the foregoing. Notwithstanding any other provision of the Plan to the contrary, no Participant who is
a member of the Board or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange
Act shall be permitted to pay the exercise price of an Option in any method which would violate Section 13(k) of the Exchange
Act.

 

(f)            Evidence
of Grant. All Options shall be evidenced by an Award Agreement between the Company and the Participant. The Award Agreement shall
include such additional provisions as may be specified by the Committee.

 

(g)           Effects
of Termination of Employment or Service on Options. Termination of employment or service shall have the following effects on Options
granted to the Participants:

 

(i)            Dismissal
for Cause. Unless otherwise provided in the Award Agreement, if a Participant’s employment by or service to the Service Recipient
is terminated by the Service Recipient for Cause, the Participant’s Options will terminate upon such termination, whether or not
the Option is then vested and/or exercisable;

 

(ii)            Death
or Disability. Unless otherwise provided in the Award Agreement or with prior written approval from the Committee, if a Participant’s
employment by or service to the Service Recipient terminates as a result of the Participant’s death or Disability:

 

		(a)	the Participant (or his or her legal representative or beneficiary, in the case of the Participant’s Disability or death, respectively),
will have until the date that is 12 months after the Participant’s termination of Employment or service to exercise the Participant’s
Options (or portion thereof) to the extent that such Options were vested and exercisable on the date of the Participant’s termination
of Employment or service on account of death or Disability;

 

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		(b)	the Options, to the extent not vested and exercisable on the date of the Participant’s termination of Employment or service,
shall terminate upon the Participant’s termination of Employment or service on account of death or Disability; and

 

		(c)	the Options, to the extent exercisable for the 12-month period following the Participant’s termination of Employment or service
and not exercised during such period, shall terminate at the close of business on the last day of the 12-month period.

 

(iii)            Other
Terminations of Employment or Service. Unless otherwise provided in the Award Agreement, if a Participant’s employment by or
service to the Service Recipient terminates for any reason other than a termination by the Service Recipient for Cause or because of the
Participant’s death or Disability:

 

		(a)	the Participant will have until the date that is 90 days after the Participant’s termination of Employment or service to exercise
his or her Options (or portion thereof) to the extent that such Options were vested and exercisable on the date of the Participant’s
termination of Employment or service;

 

		(b)	the Options, to the extent not vested and exercisable on the date of the Participant’s termination of Employment or service,
shall terminate upon the Participant’s termination of Employment or service; and

 

		(c)	the Options, to the extent exercisable for the 90-day period following the Participant’s termination of Employment or service
and not exercised during such period, shall terminate at the close of business on the last day of the 90-day period.

 

5.2           Incentive
Share Options. Incentive Share Options may be granted to Employees of the Company or a Subsidiary of the Company. Incentive Share
Options may not be granted to employees of a Related Entity or to Independent Directors or Consultants. The terms of any Incentive Share
Options granted pursuant to the Plan, in addition to the requirements of Section 5.1, must comply with the following additional provisions
of this Section 5.2:

 

(a)            Individual
Dollar Limitation. The aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to
which Incentive Share Options are first exercisable by a Participant in any calendar year may not exceed $100,000 or such other limitation
as imposed by Section 422(d) of the Code, or any successor provision. To the extent that Incentive Share Options are first exercisable
by a Participant in excess of such limitation, the excess shall be considered Non-Qualified Share Options.

 

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(b)            Exercise
Price. The exercise price of an Incentive Share Option shall be equal to the Fair Market Value on the date of grant. However, the
exercise price of any Incentive Share Option granted to any individual who, at the date of grant, owns Shares possessing more than ten
percent of the total combined voting power of all classes of shares of the Company or any Parent or Subsidiary of the Company may not
be less than 110% of Fair Market Value on the date of grant and such Option may not be exercisable for more than five years from the date
of grant.

 

(c)            Transfer
Restriction. The Participant shall give the Company prompt notice of any disposition of Shares acquired by exercise of an Incentive
Share Option within (i) two years from the date of grant of such Incentive Share Option or (ii) one year after the transfer
of such Shares to the Participant.

 

(d)            Expiration
of Incentive Share Options. No Award of an Incentive Share Option may be made pursuant to this Plan after the tenth anniversary of
the Effective Date.

 

(e)            Right
to Exercise. During a Participant’s lifetime, an Incentive Share Option may be exercised only by the Participant.

 

5.3

 

Article 6

 

RESTRICTED SHARE UNITS

 

6.1           Grant
of Restricted Share Units. The Committee, at any time and from time to time, may grant Restricted Share Units to Participants as the
Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine the number of Restricted Share
Units to be granted to each Participant.

 

6.2           Restricted
Share Units Award Agreement. Each Award of Restricted Share Units shall be evidenced by an Award Agreement that shall specify any
vesting conditions, the number of Restricted Share Units granted, and such other terms and conditions as the Committee, in its sole discretion,
shall determine.

 

6.3           Form and
Timing of Payment of Restricted Share Units. At the time of grant, the Committee shall specify the date or dates on which the Restricted
Share Units shall become fully vested and nonforfeitable. Upon vesting, the Committee, in its sole discretion, may pay Restricted Share
Units in the form of cash, Shares or a combination thereof.

 

6.4           Forfeiture/Repurchase.
Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of employment or
service during the applicable restriction period, Restricted Share Units that are at that time unvested shall be forfeited or repurchased
in accordance with the Award Agreement; provided, however, the Committee may (a) provide in any Restricted Share Unit Award
Agreement that restrictions or forfeiture and repurchase conditions relating to Restricted Share Units will be waived in whole or in part
in the event of terminations resulting from specified causes, and (b) in other cases waive in whole or in part restrictions or forfeiture
and repurchase conditions relating to Restricted Share Units.

 

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Article 7

 

PROVISIONS APPLICABLE TO AWARDS

 

7.1           Award
Agreement. Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and limitations for each
Award which may include the term of an Award, the provisions applicable in the event the Participant’s employment or service terminates,
and the Company’s authority to unilaterally or bilaterally amend, modify, suspend, cancel or rescind an Award.

 

7.2           No
Transferability; Limited Exception to Transfer Restrictions.

 

8.2.1        Limits
on Transfer. Unless otherwise expressly provided in (or pursuant to) this Section 7.2, by applicable law and by the Award Agreement,
as the same may be amended:

 

		(a)	all Awards are non-transferable and will not be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge,
encumbrance or charge;

 

		(b)	Awards will be exercised only by the Participant; and

 

		(c)	amounts payable or shares issuable pursuant to an Award will be delivered only to (or for the account of), and, in the case of Shares,
registered in the name of, the Participant.

 

In addition, the shares shall be subject to the restrictions
set forth in the applicable Award Agreement.

 

8.2.2        Further
Exceptions to Limits on Transfer. The exercise and transfer restrictions in Section 8.2.1 will not apply to:

 

		(a)	transfers to the Company or a Subsidiary;

 

		(b)	transfers by gift to “immediate family” as that term is defined in SEC Rule 16a-1(e) promulgated under the Exchange
Act;

 

		(c)	the designation of a beneficiary to receive benefits if the Participant dies or, if the Participant has died, transfers to or exercises
by the Participant’s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent
and distribution; or

 

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		(d)	if the Participant has suffered a disability, permitted transfers or exercises on behalf of the Participant by the Participant’s
duly authorized legal representative; or

 

		(e)	subject to the prior approval of the Committee or an executive officer or director of the Company authorized by the Committee, transfer
to one or more natural persons who are the Participant’s family members or entities owned and controlled by the Participant and/or
the Participant’s family members, including but not limited to trusts or other entities whose beneficiaries or beneficial owners
are the Participant and/or the Participant’s family members, or to such other persons or entities as may be expressly approved by
the Committee, pursuant to such conditions and procedures as the Committee or may establish. Any permitted transfer shall be subject to
the condition that the Committee receives evidence satisfactory to it that the transfer is being made for estate and/or tax planning purposes
and on a basis consistent with the Company’s lawful issue of securities.

 

Notwithstanding anything else in this Section 8.2.2
to the contrary, but subject to compliance with all Applicable Laws, Incentive Share Options and Restricted Share Units will be subject
to any and all transfer restrictions under the Code applicable to such Awards or necessary to maintain the intended tax consequences of
such Awards. Notwithstanding clause (b) above but subject to compliance with all Applicable Laws, any contemplated transfer by gift
to “immediate family” as referenced in clause (b) above is subject to the condition precedent that the transfer be approved
by the Committee in order for it to be effective.

 

7.3           Beneficiaries.
Notwithstanding Section 7.2, a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the
rights of the Participant and to receive any distribution with respect to any Award upon the Participant’s death. A beneficiary,
legal guardian, legal representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions
of the Plan and any Award Agreement applicable to the Participant, except to the extent the Plan and Award Agreement otherwise provide,
and to any additional restrictions deemed necessary or appropriate by the Committee. If the Participant is married and resides in a community
property state, a designation of a person other than the Participant’s spouse as his or her beneficiary with respect to more than
50% of the Participant’s interest in the Award shall not be effective without the prior written consent of the Participant’s
spouse. If no beneficiary has been designated or survives the Participant, payment shall be made to the person entitled thereto pursuant
to the Participant’s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed
or revoked by a Participant at any time provided the change or revocation is filed with the Committee.

 

7.4           Performance
Objectives and Other Terms. The Committee, in its discretion, shall set performance objectives or other vesting criteria which, depending
on the extent to which they are met, will determine the number or value of the Awards that will be granted or paid out to the Participants.

 

    12

     

    

 

7.5           Share
Certificates. Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates
evidencing the Shares pursuant to the exercise of any Award, unless and until the Committee has determined, with advice of counsel, that
the issuance and delivery of such certificates is in compliance with all Applicable Laws, regulations of governmental authorities and,
if applicable, the requirements of any exchange on which the Shares are listed or traded. All Share certificates delivered pursuant to
the Plan are subject to any stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply with all
Applicable Laws, and the rules of any national securities exchange or automated quotation system on which the Shares are listed,
quoted, or traded. The Committee may place legends on any Share certificate to reference restrictions applicable to the Shares. In addition
to the terms and conditions provided herein, the Committee may require that a Participant make such reasonable covenants, agreements,
and representations as the Committee, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements.
The Committee shall have the right to require any Participant to comply with any timing or other restrictions with respect to the settlement
or exercise of any Award, including a window-period limitation, as may be imposed in the discretion of the Committee.

 

7.6           Paperless
Administration. Subject to Applicable Laws, the Committee may make Awards and provide applicable disclosure and procedures for exercise
of Awards by an internet website or interactive voice response system for the paperless administration of Awards.

 

7.7           Foreign
Currency. A Participant may be required to provide evidence that any currency used to pay the exercise price of any Award was acquired
and taken out of the jurisdiction in which the Participant resides in accordance with Applicable Laws, including foreign exchange control
laws and regulations. In the event the exercise price for an Award is paid in Chinese Renminbi or other foreign currency, as permitted
by the Committee, the amount payable will be determined by conversion from U.S. dollars at the official rate promulgated by the People’s
Bank of China for Chinese Renminbi, or for jurisdictions other than the People’s Republic of China, the exchange rate as selected
by the Committee on the date of exercise.

 

Article 8

 

changes
in capital structure

 

8.1           Adjustments.
In the event of any dividend, share split, combination or exchange of Shares, amalgamation, arrangement or consolidation, spin-off, recapitalization
or other distribution (other than normal cash dividends) of Company assets to its shareholders, or any other change affecting the Shares
or the share price of a Share, the Committee shall make such proportionate adjustments, if any, as the Committee in its discretion may
deem appropriate to reflect such change with respect to (a) the aggregate number and type of shares that may be issued under the
Plan (including, but not limited to, adjustments of the limitations in Section 3.1); (b) the terms and conditions of any outstanding
Awards (including, without limitation, any applicable performance targets or criteria with respect thereto); and (c) the grant or
exercise price per share for any outstanding Awards under the Plan.

 

    13

     

    

 

8.2           Corporate
Transactions. Except as may otherwise be provided in any Award Agreement or any other written agreement entered into by and between
the Company and a Participant, if the Committee anticipates the occurrence, or upon the occurrence, of a Corporate Transaction, the Committee
may, in its sole discretion, provide for (i) any and all Awards outstanding hereunder to terminate at a specific time in the future
and shall give each Participant the right to exercise the vested portion of such Awards during a period of time as the Committee shall
determine, or (ii) the purchase of any Award for an amount of cash equal to the amount that could have been attained upon the exercise
of such Award (and, for the avoidance of doubt, if as of such date the Committee determines in good faith that no amount would have been
attained upon the exercise of such Award, then such Award may be terminated by the Company without payment), or (iii) the replacement
of such Award with other rights or property selected by the Committee in its sole discretion or the assumption of or substitution of such
Award by the successor or surviving corporation, or a Parent or Subsidiary thereof, with appropriate adjustments as to the number and
kind of Shares and prices, or (iv) payment of such Award in cash based on the value of Shares on the date of the Corporate Transaction
plus reasonable interest on the Award through the date as determined by the Committee when such Award would otherwise be vested or have
been paid in accordance with its original terms, if necessary to comply with Section 409A of the Code.

 

8.3           Outstanding
Awards – Other Changes. In the event of any other change in the capitalization of the Company or corporate change other than
those specifically referred to in this Article 8, the Committee may, in its absolute discretion, make such adjustments in the number
and class of shares subject to Awards outstanding on the date on which such change occurs and in the per share grant or exercise price
of each Award as the Committee may consider appropriate to prevent dilution or enlargement of rights.

 

8.4           No
Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation
of Shares of any class, the payment of any dividend, any increase or decrease in the number of shares 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 Committee under the Plan, and no issuance by the Company of shares of any class, or securities convertible into shares of
any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of Shares subject to an Award or
the grant or exercise price of any Award.

 

Article 9

 

ADMINISTRATION

 

9.1           Committee.
The Plan shall be administered by the Board or a committee of one or more members of the Board (the “Committee”) to
whom the Board shall delegate the authority to grant or amend Awards to Participants other than any of the Committee members, Independent
Directors and executive officers of the Company. Reference to the Committee shall refer to the Board in absence of the Committee. Notwithstanding
the foregoing, the full Board, acting by majority of its members in office, shall conduct the general administration of the Plan if required
by Applicable Laws, and with respect to Awards granted to the Committee members, Independent Directors and executive officers of
the Company and for purposes of such Awards the term “Committee” as used in the Plan shall be deemed to refer to the Board.

 

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9.2           Action
by the Committee. A majority of the Committee shall constitute a quorum. The acts of a majority of the members present at any meeting
at which a quorum is present, and acts approved unanimously in writing all members of the Committee in lieu of a meeting, shall be deemed
the acts of the Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information
furnished to that member by any officer or other employee of a Group Entity, the Company’s independent certified public accountants,
or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan.

 

9.3           Authority
of the Committee. Subject to any specific designation in the Plan, the Committee has the exclusive power, authority and discretion
to:

 

(a)            designate
Participants to receive Awards;

 

(b)            determine
the type or types of Awards to be granted to each Participant;

 

(c)            determine
the number of Awards to be granted and the number of Shares to which an Award will relate;

 

(d)            designate
an administrator to administer the Awards to Participants other than Committee members, independent directors or executive officers of
the Company, including designating Participants to receive Awards, determining the type or types of Awards to be granted to each Participant,
and determining the number of Awards to be granted and the number of Shares to which an Award will relate;

 

(e)            determine
the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price, grant price, or
purchase price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the
exercisability of an Award, and accelerations or waivers thereof, and any provisions related to non-competition and recapture of gain
on an Award, based in each case on such considerations as the Committee in its sole discretion determines;

 

(f)            determine
whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may be paid
in, cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered;

 

(g)            prescribe
the form of each Award Agreement, which need not be identical for each Participant;

 

(h)            decide
all other matters that must be determined in connection with an Award;

 

(i)            establish,
adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan;

 

(j)            interpret
the terms of, and any matter arising pursuant to, the Plan or any Award Agreement;

 

    15

     

    

 

(k)            amend
terms and conditions of Award Agreements; and

 

(l)            make
all other decisions and determinations that may be required pursuant to the Plan or as the Committee deems necessary or advisable to administer
the Plan, including design and adopt from time to time new types of Awards that are in compliance with Applicable Laws.

 

9.4           Decisions
Binding. The Committee’s interpretation of the Plan, any Awards granted pursuant to the Plan, any Award Agreement and all decisions
and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties.

 

9.5           Shareholders’
approval. Notwithstanding the other provisions of this Plan, to the extent required under the rules of any securities exchange
or market system on which the Shares are listed, amendments to the terms of Options granted under the Plan shall be subject to approval
by the Company’ shareholders entitled to vote at a meeting of shareholders.

 

Article 10

 

EFFECTIVE AND EXPIRATION DATE

 

10.1         Effective
Date. The Plan shall become effective as of the date on which the Board adopts the Plan or as otherwise specified by the Board when
adopting the Plan (the “Effective Date”).

 

10.2         Expiration
Date. The Plan will expire on, and no Award may be granted pursuant to the Plan after, the tenth anniversary of the Effective Date.
Any Awards that are outstanding on the tenth anniversary of the Effective Date shall remain in force according to the terms of the Plan
and the applicable Award Agreement.

 

Article 11

 

AMENDMENT, MODIFICATION, AND TERMINATION

 

11.1        Amendment,
Modification, and Termination. At any time and from time to time, the Board may terminate, amend or modify the Plan; provided,
however, that (a) to the extent necessary and desirable to comply with Applicable Laws or stock exchange rules, the Company shall
obtain shareholder approval of any Plan amendment in such a manner and to such a degree as required, unless the Company decides to follow
home country practice in lieu of shareholder approval as permissible under the applicable stock exchange rules, and (b) unless the
Company decides to follow home country practice in lieu of shareholder approval as permissible under the applicable stock exchange rules,
shareholder approval is required for any amendment to the Plan that increases the number of Shares available under the Plan (other than
any adjustment as provided by Article 8 or 3.1(a)).

 

11.2        Awards
Previously Granted. Except with respect to amendments made pursuant to Section 11.1, no termination, amendment, or modification
of the Plan shall adversely affect in any material way any Award previously granted pursuant to the Plan without the prior written consent
of the Participant. In the event that the Plan is terminated while any Award remains outstanding and unexercised or unvested, the provisions
of this Plan shall remain in full force to the extent necessary to give effect to the exercise or vesting of any such Award.

 

    16

     

    

 

Article 12

 

GENERAL PROVISIONS

 

12.1        No
Rights to Awards. No Participant, employee, or other person shall have any claim to be granted any Award pursuant to the Plan, and
neither the Company nor the Committee is obligated to treat Participants, employees, and other persons uniformly.

 

12.2        No
Shareholders Rights. No Award gives the Participant any of the rights of a shareholder of the Company unless and until Shares are
in fact issued to such person in connection with such Award. Accordingly, except as otherwise determined by the Committee, a Participant
shall not have any voting rights, or rights to participate in any dividends or distributions (including those arising on a liquidation
of the Company) declared or recommended or resolved to be paid to the shareholders on the register of members of the Company on a date
prior to the name of such Participant being registered on such register.

 

12.3        Taxes.
No Shares shall be delivered under the Plan to any Participant until such Participant has made arrangements acceptable to the Committee
for the satisfaction of any income and employment tax withholding obligations under Applicable Laws. The Company or any Subsidiary shall
have the authority and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy
all applicable taxes (including the Participant’s payroll tax obligations) required or permitted by Applicable Laws to be withheld
with respect to any taxable event concerning a Participant arising as a result of this Plan. The Committee may in its discretion and in
satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold Shares otherwise issuable under an
Award (or allow the return of Shares) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other
provision of the Plan, the number of Shares which may be withheld with respect to the issuance, vesting, exercise or payment of any Award
(or which may be repurchased from the Participant of such Award after such Shares were acquired by the Participant from the Company) in
order to satisfy any income and payroll tax liabilities applicable to the Participant with respect to the issuance, vesting, exercise
or payment of the Award shall, unless specifically approved by the Committee, be limited to the number of Shares which have a Fair Market
Value on the date of withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding
rates for the applicable income and payroll tax purposes that are applicable to such supplemental taxable income.

 

12.4        No
Right to Employment or Services. Nothing in the Plan or any Award Agreement shall interfere with or limit in any way the right of
the Service Recipient to terminate any Participant’s employment or services at any time, nor confer upon any Participant any right
to continue in the employment or services of any Service Recipient.

 

12.5        Unfunded
Status of Awards. The Plan is intended to be an “unfunded” plan for incentive compensation. With respect to any payments
not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any
rights that are greater than those of a general creditor of the relevant Group Entity.

 

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12.6        Indemnification.
To the extent allowable pursuant to Applicable Laws, each member of the Committee or of the Board shall be indemnified and held harmless
by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection
with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved
by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction
of judgment in such action, suit, or proceeding against him or her; provided he or she gives the Company an opportunity, at its
own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing
right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled pursuant
to the Company’s Memorandum of Association and Articles of Association, as a matter of law, or otherwise, or any power that the
Company may have to indemnify them or hold them harmless.

 

12.7        Relationship
to Other Benefits. No payment pursuant to the Plan shall be taken into account in determining any benefits pursuant to any pension,
retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the any Group Entity except to the extent otherwise
expressly provided in writing in such other plan or an agreement thereunder.

 

12.8        Expenses.
The expenses of administering the Plan shall be borne by the Group Entities.

 

12.9        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.

 

12.10      Fractional
Shares. No fractional Shares shall be issued and the Committee shall determine, in its discretion, whether cash shall be given in
lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding up or down as appropriate.

 

12.11      Limitations
Applicable to Section 16 Persons. Notwithstanding anything herein to the contrary, the Plan, and any Award granted or awarded
to any Participant who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth
in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange
Act) that are requirements for the application of such exemptive rule. To the extent permitted by the Applicable Laws, the Plan and Awards
granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

 

12.12      Government
and Other Regulations. The obligation of the Company to make payment of awards in Shares or otherwise shall be subject to all Applicable
Laws, and to such approvals by government agencies as may be required. The Company shall be under no obligation to register any of the
Shares paid pursuant to the Plan under the Securities Act or any other similar law in any applicable jurisdiction. If the Shares paid
pursuant to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Act or other Applicable Laws,
the Company may restrict the transfer of such Shares in such manner as it deems advisable to ensure the availability of any such exemption.

 

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12.13      Governing
Law. The Plan and all Award Agreements shall be construed in accordance with and governed by the laws of the Cayman Islands.

 

12.14      Section 409A.
To the extent that the Committee determines that any Award granted under the Plan is or may become subject to Section 409A of the
Code, the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section 409A of the Code.
To the extent applicable, the Plan and the Award Agreements shall be interpreted in accordance with Section 409A of the Code and
the U.S. Department of Treasury regulations and other interpretative guidance issued thereunder, including without limitation any such
regulation or other guidance that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in
the event that following the Effective Date the Committee determines that any Award may be subject to Section 409A of the Code and
related Department of Treasury guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the
Committee may adopt such amendments to the Plan and the applicable Award agreement or adopt other policies and procedures (including amendments,
policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate
to (a) exempt the Award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with
respect to the Award, or (b) comply with the requirements of Section 409A of the Code and related U.S. Department of Treasury
guidance.

 

12.15      Appendices.
Subject to Section 11.1, the Committee may approve such supplements, amendments or appendices to the Plan as it may consider necessary
or appropriate for purposes of compliance with Applicable Laws or otherwise and such supplements, amendments or appendices shall be considered
a part of the Plan; provided, however, that no such supplements shall increase the share limitation contained in Section 3.1 of the
Plan without the approval of the Board.

 

    19EX-10.1

 Exhibit 10.1 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE
THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
 LOAN AND SECURITY AGREEMENT 

THIS LOAN AND SECURITY AGREEMENT (as the same may be amended, restated, modified, or supplemented from time to time, this “Agreement”)
dated as of June 1, 2022 (the “Effective Date”) among INNOVATUS LIFE SCIENCES LENDING FUND I, LP, a Delaware limited partnership, as collateral agent (in such capacity, together with its successors and assigns in such capacity,
“Collateral Agent”), and the Lenders listed on Schedule 1.1 hereof or otherwise a party hereto from time to time including INNOVATUS LIFE SCIENCES LENDING FUND I, LP in its capacity as a Lender, and EIGER BIOPHARMACEUTICALS, INC., a
Delaware corporation (“Parent”), EB Pharma, LLC, a Delaware limited liability company (“EB Pharma”) and EBPI Merger, Inc., a Delaware corporation (“EBPI”), each with offices located at 2155 Park
Blvd., Palo Alto, CA 94306 (Parent, EB Pharma and EBPI, individually and collectively, jointly and severally, “Borrower”), provides the terms on which the Lenders shall lend to Borrower and Borrower shall repay the Lenders. The
parties agree as follows: 
  

	1.	 DEFINITIONS, ACCOUNTING AND OTHER TERMS 

1.1 Capitalized terms used herein shall have the meanings set forth in Section 13 to the extent defined therein. All other
capitalized terms used but not defined herein shall have the meaning given to such terms in the Code. Any accounting term used but not defined herein shall be construed in accordance with GAAP and all calculations shall be made in accordance with
GAAP. Notwithstanding anything herein to the contrary, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to any treatment
of any lease (or similar arrangement conveying the right to use) as a capital lease where such lease (or similar arrangement) would not have been required to be so treated under GAAP as in effect on December 31, 2017, as a result of the
effectiveness of the Financial Accounting Standards Board Accounting Standards Codification 842 (or any other Accounting Standards Codification having a similar result or effect) (and related interpretations). The term “financial
statements” shall include the accompanying notes and schedules. Any section, subsection, schedule or exhibit references are to this Agreement unless otherwise specified. 
  

	2.	 LOANS AND TERMS OF PAYMENT 

2.1 Promise to Pay. Borrower hereby unconditionally promises to pay to Collateral Agent, for distribution to each Lender, the
outstanding principal amount of the Term Loan advanced to Borrower by each Lender and accrued and unpaid interest thereon and any other amounts due hereunder as and when due in accordance with this Agreement. 

2.2 Term Loans. 

(a) 
 (i) Subject to the terms
and conditions of this Agreement, the Lenders agree, severally and not jointly, to make a term loan to Borrower on the Effective Date in an aggregate principal amount of up to Forty Million Dollars ($40,000,000.00) according to each Lender’s
Term Loan Commitment as set forth on Schedule 1.1 hereto (the “Term A Loan”). After repayment, the Term A Loan may not be re-borrowed. 

(ii) Subject to the terms and conditions of this Agreement, the Lenders agree, severally and not jointly, to make a term loan to Borrower
during the Term B Draw Period in an aggregate principal amount of up to an amount equal to Seventeen Million Five Hundred Thousand Dollars ($17,500,000.00), according to each Lender’s Term Loan Commitment as set forth on Schedule 1.1 hereto
(the “Term B Loan”). After repayment, the Term B Loan may not be re-borrowed. From and after the date on which the Term B Milestone is achieved, and until the two (2) week anniversary
thereof, Borrower may elect to terminate each Lender’s Term Loan Commitment in respect of the Term B Loan. 
 (iii) Subject to the
terms and conditions of this Agreement, the Lenders agree, severally and not jointly, to make a term loan to Borrower during the Term C Draw Period in an aggregate principal amount of up to Seventeen Million Five Hundred Thousand Dollars
($17,500,000.00) according to each Lender’s 

  
 1 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
Term Loan Commitment as set forth on Schedule 1.1 hereto (the “Term C Loan;” each Term A Loan, Term B Loan and Term C Loan is referred to singly as a “Term Loan”
and the Term A Loan, Term B Loan and Term C Loan are referred to collectively as the “Term Loans”). After repayment, the Term C Loan may not be re-borrowed. From and after the date on which
the Term C Milestone is achieved, and until the two (2) week anniversary thereof, Borrower may elect to terminate each Lender’s Term Loan Commitment in respect of the Term C Loan. 

(b) Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding
Date of any Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any
initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date after such Funding Date. Commencing on the Amortization Date, and continuing on the Payment Date of each
month thereafter, Borrower shall make equal monthly payments of principal, together with applicable interest, in arrears, to Collateral Agent, for payment to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct
absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to three (3) months. All unpaid
principal and accrued and unpaid interest with respect to the Term Loan is due and payable in full on the Maturity Date. The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d). 

(c) Mandatory Prepayments. If an event described in Section 7.2(c)(ii) occurs or the Term Loan is accelerated following the
occurrence of an Event of Default, Borrower shall immediately pay to Lenders, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of: (i) all outstanding principal of the Term Loan plus accrued
and unpaid interest thereon through the prepayment date, (ii) the Final Fee, (iii) the Prepayment Fee, plus (iv) all other Obligations that are due and payable, including, without limitation, Lenders’ Expenses and interest at the
Default Rate with respect to any past due amounts. Notwithstanding (but without duplication with) the foregoing, on the Maturity Date, if the Final Fee had not previously been paid in full in connection with the prepayment of the Term Loan in full,
Borrower shall pay to Collateral Agent, for payment to each Lender in accordance with its respective Pro Rata Share, the Final Fee in respect of the Term Loan. 

(d) Permitted Prepayment of Term Loan. After the date that is the first anniversary of the Funding Date of the Term Loan, the Borrower
shall have the option to prepay all, but not less than all, of the Term Loan advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loan at least five
(5) Business Days prior to such prepayment, and (ii) pays to Collateral Agent for the benefit of each Lenders on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the
sum of (A) all outstanding principal of the Term Loan plus accrued and unpaid interest thereon through the prepayment date, (B) the Final Fee, (C) the Prepayment Fee, plus (D) all other outstanding Obligations that are due and
payable, including, without limitation, Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts. 

2.3 Payment of Interest on the Term Loan. 

(a) Interest Rate. Subject to Section 2.3(b), the principal amount outstanding under the Term Loan shall accrue interest at a
floating per annum rate equal to the Basic Rate, determined by Collateral Agent on the Funding Date of the Term Loan and monthly thereafter, which interest shall be payable monthly in arrears in accordance with Sections 2.2(b) and 2.3(e);
provided that at the election of Borrower (which shall be considered elected on the Funding Date of the applicable Term Loan) with no less than three (3) Business Days’ written notice to Collateral Agent prior to the applicable Funding
Date, 2.25% of the Basic Rate may be payable in-kind by adding an amount equal to such portion of interest accrued to the then outstanding principal balance on a monthly basis until the third anniversary of
the Effective Date so as to increase the outstanding principal balance of applicable Term Loans on each Payment Date and which amount shall be payable when the principal amount of the applicable Term Loans is payable in accordance with Sections
2.2(b) and 2.3(e) and on which principal amount interest shall be owed pursuant to Section 2.3(a). 

  
 2 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 Interest shall accrue on each Term Loan commencing on, and including, the Funding Date of such Term Loan, and
shall accrue on the principal amount outstanding under such Term Loan through and including the day on which such Term Loan is paid in full. 

(b) Default Rate. Upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a
floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is
not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent. 

(c) 365 Day Year. Interest shall be computed on the basis of a three hundred sixty-five (365) day year and the actual number of
days elapsed. 
 (d) Debit of Accounts. Collateral Agent and each Lender may debit (or ACH) any deposit accounts maintained by
Borrower or any of its Subsidiaries for principal and interest payments or any other amounts Borrower owes the Lenders under the Loan Documents when due. Any such debits (or ACH activity) shall not constitute a set off. Without limiting the
foregoing, Collateral Agent and each Lender shall use commercially reasonable efforts to promptly notify Borrower of any amounts (other than principal and interest payments) debited from Borrower’s deposit accounts with respect to this
Agreement. 
 (e) Payments. Except as otherwise expressly provided herein, all payments by Borrower under the Loan Documents shall be
made to the respective Lender to which such payments are owed, at such Lender’s office in immediately available funds on the date specified herein. Unless otherwise provided, interest is payable monthly on the Payment Date of each month.
Payments of principal and/or interest received after 3:00 p.m. Eastern time are considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment is due the next Business
Day and additional fees or interest, as applicable, shall continue to accrue until paid. All payments to be made by Borrower hereunder or under any other Loan Document, including payments of principal and interest, and all fees, expenses,
indemnities and reimbursements, shall be made without set off, recoupment or counterclaim, in lawful money of the United States and in immediately available funds. 

(f) Changes in Prime Rate. In the event the Prime Rate is changed from time to time hereafter and because of any such change the Basic
Rate changes, the Basic Rate shall be increased or decreased, effective as of the day of such change in the Prime Rate. 
 2.4
Fees. Borrower shall pay to Collateral Agent: 
 (a) Final Fee. The Final Fee, when due hereunder, to be shared among the
Lenders in accordance with their respective Pro Rata Shares; 
 (b) Prepayment Fee. The Prepayment Fee, when due hereunder, to be
shared among the Lenders in accordance with their respective Pro Rata Shares; and 
 (c) Lenders’ Expenses. All Lenders’
Expenses (including reasonable and documented attorneys’ fees and expenses for due diligence, investigation, documentation and negotiation of this Agreement) incurred through and after the Effective Date, when due and payable. 

2.5 Withholding. Payments received by the Collateral Agent or the Lenders from Borrower hereunder will be made free and clear of
and without deduction for any and all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any governmental authority (including any interest, additions to tax or penalties
applicable thereto). Specifically, however, if at any time any Governmental Authority, applicable law, regulation or international agreement requires Borrower to make any withholding or deduction from any such payment or other sum payable hereunder
to the Lenders, Borrower hereby covenants and agrees that the amount due from Borrower with respect to such payment or other sum payable hereunder will be increased to the extent necessary to ensure that, after the making of such required
withholding or 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
deduction, each Lender receives a net sum equal to the sum which it would have received had no withholding or deduction been required and Borrower shall pay the full amount withheld or deducted
to the relevant Governmental Authority. Borrower will, upon request, furnish the Lenders with proof reasonably satisfactory to the Lenders indicating that Borrower has made such withholding payment; provided, however, that Borrower need not make any
withholding payment if the amount or validity of such withholding payment is contested in good faith by appropriate and timely proceedings and as to which payment in full is bonded or reserved against by Borrower. The agreements and obligations of
Borrower contained in this Section 2.5 shall survive the termination of this Agreement. On the date of this Agreement, each Lender shall deliver, and upon a Lender Transfer resulting in actual assignment and transfer of a Term Loan, the
applicable successor or assign shall deliver, to Borrower, a complete and properly executed IRS Form W-9, or equivalent for a foreign Lender (to show exemption from withholding) or successor certificate
designated by the IRS (a “Tax Certificate”). Notwithstanding anything to the contrary in this Section 2.5, if a Lender fails to deliver a Tax Certificate, Borrower shall not be required to make any additional payments under
this Section 2.5 in respect of such Lender. 
 2.6 Secured Promissory Notes. Each Term Loan shall be evidenced by a
Secured Promissory Note or Notes in the form attached as Exhibit D hereto (each a “Secured Promissory Note”), and shall be repayable as set forth in this Agreement. Borrower irrevocably authorizes each Lender to make or cause to be
made, on or about the Funding Date of any Term Loan or at the time of receipt of any payment of principal on such Lender’s Secured Promissory Note, an appropriate notation on such Lender’s Secured Promissory Note Record reflecting the
making of such Term Loan or (as the case may be) the receipt of such payment. The outstanding amount of each Term Loan set forth on such Lender’s Secured Promissory Note Record shall be prima facie evidence of the principal amount thereof owing
and unpaid to such Lender, but the failure to record, or any error in so recording, any such amount on such Lender’s Secured Promissory Note Record shall not limit or otherwise affect the obligations of Borrower under any Secured Promissory
Note or any other Loan Document to make payments of principal of or interest on any Secured Promissory Note when due. Upon receipt of an affidavit of an officer of a Lender as to the loss, theft, destruction, or mutilation of its Secured Promissory
Note, Borrower shall issue, in lieu thereof, a replacement Secured Promissory Note in the same principal amount thereof and of like tenor. 
  

	3.	 CONDITIONS OF LOANS 

3.1 Conditions Precedent to Initial Term Loan. Each Lender’s obligation to make the initial Term Loan is subject to the
condition precedent that Collateral Agent and each Lender shall consent to or shall have received, in form and substance reasonably satisfactory to Collateral Agent and each Lender, such documents, and completion of such other matters, as Collateral
Agent and each Lender may reasonably deem necessary or appropriate, including, without limitation: 
 (a) original Promissory Note and this
Agreement and copies of the other Loan Documents, each duly executed by Borrower and each Subsidiary party thereto, as applicable; 
 (b) a
completed Perfection Certificate for Borrower and each of its Subsidiaries; 
 (c) duly executed original Control Agreements with respect to
any Collateral Accounts maintained by Borrower or any other Loan Party; 
 (d) the Operating Documents and good standing certificates of
Borrower and each Loan Party certified by the Secretary of State (or equivalent agency) of Borrower’s and each such Loan Party’s jurisdiction of organization or formation and each jurisdiction in which Borrower and each Loan Party is
qualified to conduct business, each as of a date no earlier than thirty (30) days prior to the Effective Date; 
 (e) a copy of
resolutions of the governing body for Borrower evidencing approval of the Term Loan and other transactions evidenced by the Loan Documents; 

(f) duly executed original officer’s certificates for Borrower and each Loan Party that is a party to the Loan Documents certifying as to
(i) the incumbency of each Responsible Officer executing each Loan Document and (ii) the documents delivered pursuant to Section 3.1(d) and 3.1(e), in a form acceptable to Collateral Agent and the Lenders; 

 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (g) certified copies, dated as of date no earlier than thirty (30) days prior to the
Effective Date, of financing statement searches, as Collateral Agent shall request, accompanied by written evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted
Liens or have been or, in connection with the initial Term Loan, will be terminated or released; 
 (h) a duly executed legal opinion of
Sidley Austin LLP dated as of the Effective Date; 
 (i) evidence satisfactory to Collateral Agent and the Lenders that the insurance
policies required by Section 6.5 hereof are in full force and effect, together with appropriate evidence showing loss payable and/or additional insured clauses or endorsements in favor of Collateral Agent, for the ratable benefit of the
Lenders; 
 (j) a copy of any applicable Investors Rights Agreement and any amendments thereto; 

(k) duly executed Stock Purchase Agreement; 

(l) payment of the Lenders’ Expenses then due as specified in Section 2.4 hereof; 

(m) a landlord’s consent executed in favor of Collateral Agent in respect of all of Borrower’s and each Loan Parties’ leased
locations where Collateral having a book value in excess of Two Hundred Fifty Thousand Dollars ($250,000.00) is maintained or which leased location is the head office of any Borrower; 

(n) a bailee waiver executed in favor of Collateral Agent in respect of each third party bailee where Borrower or any Loan Party maintains
Collateral having a book value in excess of Two Hundred Fifty Thousand Dollars ($250,000.00); 
 (o) a payoff letter from Oxford Finance LLC
in respect of the Existing Indebtedness; and 
 (p) evidence that (i) the Liens securing the Existing Indebtedness will be terminated
and (ii) the documents and/or filings evidencing the perfection of such Liens, including without limitation any financing statements and/or control agreements, have or will, concurrently with the initial Credit Extension, be terminated. 

Subject to Section 6.14, Collateral Agent and each Lender, by delivering its signature page to this Agreement and, if applicable, funding its portion of
the initial Term Loan, shall be deemed to have acknowledged receipt of, and consented to and approved, each Loan Document and each other document, agreement, instrument, certificate, opinion and other deliverable required to be approved by the
Collateral Agent and such Lender, as applicable, on the date hereof. 
 3.2 Conditions Precedent to all Term Loans. The
obligation of each Lender to extend each Term Loan, including the initial Term Loan, is subject to the following conditions precedent: 

(a) receipt by Collateral Agent of (i) an executed Loan Payment Request Form in the form of EXHIBIT
B-1 attached hereto and (ii) an executed Disbursement Letter in the form of EXHIBIT B-2 attached hereto; 

(b) the representations and warranties in Section 5 hereof shall be true, accurate and complete in all material respects on the date of
each Loan Payment Request Form and the date of each Disbursement Letter and the Funding Date of each Term Loan (unless such representation or warranty expressly relates to another date, in which case it shall be accurate and complete in all material
respects as of such date); provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those
representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, and no Event of Default shall have occurred and be continuing or result from the funding of such
Term Loan; 

  
 5 

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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (c) in such Lender’s reasonable discretion, there has not been any Material Adverse
Change; 
 (d) no Event of Default or an event that with the passage of time could result in an Event of Default, shall exist; 

(e) to the extent not delivered at the Effective Date, duly executed original Secured Promissory Notes, in number, form and content acceptable
to each Lender, and in favor of each Lender according to its Commitment Percentage, with respect to each Credit Extension made by such Lender after the Effective Date; and 

(f) payment of the fees and Lenders’ Expenses then due and payable as specified in Section 2.5 hereof. 

3.3 Covenant to Deliver. Borrower agrees to deliver to Collateral Agent and the Lenders each item required to be delivered to
Collateral Agent under this Agreement as a condition precedent to any Term Loan. Borrower expressly agrees that the Term Loan made prior to the receipt by Collateral Agent or any Lender of any such item shall not constitute a waiver by Collateral
Agent or any Lender of Borrower’s obligation to deliver such item, and any such Term Loan in the absence of a required item shall be made in each Lender’s sole discretion. 

3.4 Procedures for Borrowing. Subject to the prior satisfaction of all other applicable conditions to the making of the Term
Loan set forth in this Agreement, to obtain the Term Loan (other than the Term Loan funded on the Effective Date), Borrower shall notify the Lenders (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 3:00 p.m. New
York City time five (5) Business Days prior to the date the Term Loan is to be made. Together with any such electronic, facsimile or telephonic notification, Borrower shall deliver to Collateral Agent by electronic mail or facsimile a completed
Disbursement Letter and Loan Payment Request Form executed by a Responsible Officer or his or her designee. The Collateral Agent may rely on any telephone notice given by a person whom Collateral Agent reasonably believes is a Responsible Officer or
designee. 
  

	4.	 CREATION OF SECURITY INTEREST 

4.1 Grant of Security Interest. Borrower hereby grants Collateral Agent, for the ratable benefit of the Lenders, to secure the
payment and performance in full of all of the Obligations, a continuing security interest in, and pledges to Collateral Agent, for the ratable benefit of the Lenders, the Collateral, wherever located, whether now owned or hereafter acquired or
arising, and all proceeds and products thereof. If Borrower shall acquire a commercial tort claim (as defined in the Code), Borrower shall grant to Collateral Agent, for the ratable benefit of the Lenders, a security interest therein and in the
proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Collateral Agent. Collateral Agent shall, at the sole cost and expense of the Borrower, execute and/or deliver such
agreements, documents and filings as Borrower may request to effectuate the foregoing. 
 If this Agreement is terminated, Collateral Agent’s Lien in
the Collateral shall continue until the Obligations (other than inchoate indemnity obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations (other than inchoate indemnity obligations) and at such time as the
Lenders’ obligation to extend the Term Loan has terminated, Collateral Agent shall, at the sole cost and expense of Borrower, release its Liens in the Collateral and all rights therein shall revert to Borrower. 

The security interests in any Collateral created hereby shall be automatically released and such Collateral sold free and clear of the lien and security
interests created hereby (x) upon any disposition of Collateral permitted to be sold, transferred or assigned pursuant or in connection with a transaction permitted hereunder or (y) upon the effectiveness of any written consent to the
release of the security interests created hereby in any Collateral pursuant to Section 12.5. 
 4.2 Authorization to File
Financing Statements. Borrower hereby authorizes Collateral Agent to file financing statements or take any other action required to perfect Collateral Agent’s security interests in the Collateral, without notice to Borrower, with all
appropriate jurisdictions to perfect or protect Collateral Agent’s interest or rights under the Loan Documents. 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

	5.	 REPRESENTATIONS AND WARRANTIES 

Borrower represents and warrants to Collateral Agent and the Lenders as follows: 

5.1 Due Organization, Authorization: Power and Authority. Borrower and each of its Subsidiaries is duly existing and in good
standing as a Registered Organization in its jurisdictions of organization or formation and Borrower and each of its Subsidiaries is qualified and licensed to do business and is in good standing in any jurisdiction in which the conduct of its
businesses or its ownership of property requires that it be qualified except where the failure to do so could not reasonably be expected to have a Material Adverse Change. In connection with this Agreement, Borrower and each of its Subsidiaries has
delivered to Collateral Agent a completed perfection certificate and any updates or supplements thereto on or before the Effective Date (each a “Perfection Certificate” and collectively, the “Perfection
Certificates”). Borrower represents and warrants that all the information set forth on the Perfection Certificates pertaining to Borrower and each of its Subsidiaries is accurate and complete in all material respects. 

The execution, delivery and performance by Borrower and each of its Subsidiaries of the Loan Documents to which it is a party have been duly authorized, and
do not (i) conflict with any of Borrower’s or such Subsidiaries’ organizational documents, including its respective Operating Documents, (ii) contravene, conflict with, constitute a default under or violate any material
Requirement of Law applicable thereto, (iii) contravene, conflict or violate any applicable order, writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or such Subsidiary, or any of their
property or assets may be bound or affected, (iv) require any action by, filing, registration, or qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained
and are in full force and effect) or are being obtained pursuant to Section 6.1(b), or (v) constitute an event of default under any material agreement by which Borrower or any of such Subsidiaries, or their respective properties, is bound.
Neither Borrower nor any of its Subsidiaries is in default under any agreement to which it is a party or by which it or any of its assets is bound in which such default could reasonably be expected to have a Material Adverse Change. 

5.2 Collateral. 

(a) Borrower and each Loan Party have good title to, have rights in, and the power to transfer each item of the Collateral upon which it
purports to grant a Lien under the Loan Documents, free and clear of any and all Liens except Permitted Liens, and neither Borrower nor any of the Loan Parties have any Deposit Accounts, Securities Accounts, Commodity Accounts or other investment
accounts other than the Collateral Accounts or the other investment accounts, if any, described in the Perfection Certificates delivered to Collateral Agent in connection herewith with respect of which Borrower or such Loan Party has given the
Collateral Agent notice and taken such actions as are necessary to give Collateral Agent a perfected security interest therein. The Accounts are bona fide, existing obligations of the Account Debtors. 

(b) The security interest granted herein is and shall at all times continue to be a first priority perfected security interest in the
Collateral, subject only to Permitted Liens that are permitted by the terms of this Agreement to have priority to Collateral Agent’s Lien. 

(c) On the Effective Date, and except as disclosed on the Perfection Certificate (as the same may be updated from time to time in accordance
with the terms of this Agreement) (i) the Collateral is not in the possession of any third party bailee, and (ii) no such third party bailee possesses components of the Collateral in excess of Two Hundred Fifty Thousand Dollars
($250,000.00). 
 (d) All Inventory and Equipment is in all material respects of good and marketable quality, free from material defects,
ordinary wear and tear excepted. 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (e) Borrower and each of its Subsidiaries is the sole owner of the Intellectual Property each
respectively purports to own, free and clear of all Liens other than Permitted Liens. Except as noted on the Perfection Certificates, neither Borrower nor any of its Subsidiaries is a party to, nor is bound by, any material license or other material
agreement with respect to which Borrower or such Subsidiary is the licensee that (i) prohibits or otherwise restricts Borrower or its Subsidiaries from granting a security interest in Borrower’s or such Subsidiaries’ interest in such
material license or material agreement or any other property, or (ii) for which a default under or termination of could interfere with Collateral Agent’s or any Lender’s right to sell any portion of the Collateral with a value exceeding
Five Hundred Thousand Dollars ($500,000.00). Borrower shall provide written notice to Collateral Agent and each Lender within twenty (20) days of Borrower or any of its Subsidiaries entering into or becoming bound by any material license or
agreement with respect to which Borrower or any Subsidiary is the licensee (other than over-the-counter software that is commercially available to the public). 

5.3 Litigation. Except as disclosed on the Perfection Certificate, there are no actions, suits, investigations, or proceedings
pending or, to the Knowledge of the Responsible Officers, threatened in writing by or against Borrower or any of its Subsidiaries involving monetary damages against Borrower or any of its Subsidiaries of more than Five Hundred Thousand Dollars
($500,000.00). Except as disclosed on the Perfection Certificate, there are no actions, suits, investigations or proceedings pending or, to the Knowledge of the Responsible Officers, threatened in writing by or against Borrower or any Subsidiaries
involving challenges to the validity of the Intellectual Property. 
 5.4 No Material Adverse Change; Financial Statements.
All consolidated financial statements for Borrower and its Subsidiaries, delivered to Collateral Agent fairly present, in conformity with GAAP, in all material respects the consolidated financial condition of Borrower and its Subsidiaries, and the
consolidated results of operations of Borrower and its Subsidiaries as of the date and for the periods presented. Lender understands that interim financial statements may not be audited and may be subject to ordinary
year-end adjustments consistent with Borrower’s past practices, such as for the sake of example only, changes in the fair market value of warrants. Lender therefore understands and agrees that such
financial statements are therefore considered to be in draft form and subject to ordinary year-end adjustments consistent with Borrower’s past practices. Since the date of the most recent financial
statements submitted to the Collateral Agent, there has not been a Material Adverse Change. 
 5.5 Solvency. Borrower and each
of its Subsidiaries, when taken as a whole, on a consolidated basis, is Solvent. 
 5.6 Regulatory Compliance. Neither
Borrower nor any of its Subsidiaries is required to register as an “investment company” or a company “controlled” by an “investment company” under the Investment Company Act of 1940, as amended. Neither Borrower nor any
of its Subsidiaries is engaged as one of its important activities in extending credit for margin stock (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower and each of its Subsidiaries has complied in all material
respects with the Federal Fair Labor Standards Act. Neither Borrower nor any of its Subsidiaries is a “holding company” or an “affiliate” of a “holding company” or a “subsidiary company” of a “holding
company” as each term is defined and used in the Public Utility Holding Company Act of 2005. Neither Borrower nor any of its Subsidiaries has violated any laws, ordinances or rules, the violation of which could reasonably be expected to have a
Material Adverse Change. Neither Borrower’s nor any of its Subsidiaries’ properties or assets has been used by Borrower or such Subsidiary or, to Borrower’s Knowledge, by previous Persons, in disposing, producing, storing, treating,
or transporting any Hazardous Substance other than in material compliance with applicable laws. Borrower and each of its Subsidiaries has obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all
notices to, all Governmental Authorities that are necessary to continue their respective businesses as currently conducted. 
 None of Borrower, any of its
Subsidiaries, or, to the Knowledge of Borrower, any of Borrower’s or its Subsidiaries’ Affiliates or agents acting or benefiting in any capacity in connection with the transactions contemplated by this Agreement (i) is in violation of
any Anti Terrorism Law, (ii) is engaging in or conspiring to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding or attempts to violate, any of the prohibitions set forth in any Anti Terrorism Law, or
(iii) is a Blocked Person. None of Borrower, any of its Subsidiaries, or, to the Knowledge of Borrower, any of Borrower’s or its Subsidiaries’ Affiliates or agents acting or benefiting in any capacity in connection with the
transactions contemplated by this Agreement, (x) conducts any business or engages in making or receiving any contribution of funds, goods or services to or for the benefit of any Blocked Person in violation of Anti Terrorism Laws, or
(y) deals in, or otherwise engages in any transaction relating to, any property or interest in property blocked pursuant to any Anti Terrorism Law. 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 5.7 Investments. Neither Borrower nor any of its Subsidiaries owns any stock,
shares, partnership interests or other equity securities except for Permitted Investments. 
 5.8 Tax Returns and Payments;
Pension Contributions. Borrower and each of its Subsidiaries has timely filed all required tax returns and reports, and Borrower and each of its Subsidiaries, has timely paid all foreign, federal, state, and local taxes, assessments, deposits
and contributions owed by Borrower and such Subsidiaries in an amount greater than Fifty Thousand Dollars ($50,000.00), in all jurisdictions in which Borrower or any such Subsidiary is subject to taxes, including the United States, unless such taxes
are being contested in accordance with the next sentence. Borrower and each of its Subsidiaries, may defer payment of any contested taxes, provided that Borrower or such Subsidiary in good faith contests its obligation to pay the taxes by
appropriate proceedings promptly and diligently instituted and conducted. Neither Borrower nor any of its Subsidiaries is aware of any claims or adjustments proposed in writing for any of Borrower’s or such Subsidiaries’ prior tax years
which could result in additional taxes becoming due and payable by Borrower or its Subsidiaries. Borrower and each of its Subsidiaries have paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in
accordance with their terms, and neither Borrower nor any of its Subsidiaries have, withdrawn from participation in, and have not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such
plan which could reasonably be expected to result in any liability of Borrower or its Subsidiaries, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other Governmental Authority. 

5.9 Use of Proceeds. Borrower shall use the proceeds of the Term Loan solely as working capital, general corporate purposes and
to fund its general business requirements in accordance with the provisions of this Agreement, and not for personal, family, household or agricultural purposes. A portion of the proceeds of the Term A Loans shall be used by Borrower to repay the
Existing Indebtedness in full on the Effective Date and fees and expenses in connection therewith and with this Agreement. 
 5.10
Full Disclosure. No written representation, warranty or other statement of Borrower or any of its Subsidiaries in any certificate or written statement given to Collateral Agent or any Lender, as of the date such representation, warranty, or
other statement was made, taken together with all such written certificates and written statements given to Collateral Agent or any Lender, contains any untrue statement of a material fact or omits to state a material fact necessary to make the
statements contained in the certificates or statements not misleading (it being recognized that projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are not viewed as facts and that actual results during
the period or periods covered by such projections and forecasts may differ from the projected or forecasted results, and such differences may be material). 
  

	6.	 AFFIRMATIVE COVENANTS 

For so long as any Obligations (other than inchoate indemnity obligations) remain outstanding or any Lender has any commitment to make a Term Loan hereunder,
Borrower shall, and shall cause each of its Subsidiaries to, do all of the following: 
 6.1 Government Compliance. 

(a) Maintain its and all its Subsidiaries’ legal existence and good standing in their respective jurisdictions of organization and
maintain qualification in each jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Change. Comply with all laws, ordinances and regulations to which Borrower or any of its Subsidiaries is subject,
the noncompliance with which could reasonably be expected to have a Material Adverse Change. 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (b) Obtain and keep in full force and effect, all of the material Governmental Approvals
necessary for the performance by Borrower and its Subsidiaries of their respective businesses and obligations under the Loan Documents and the grant of a security interest to Collateral Agent for the ratable benefit of the Lenders, in all of the
Collateral. 
 6.2 Financial Statements, Reports, Certificates; Notices. 

(a) Deliver to Collateral Agent for delivery to each Lender: 

(i) as soon as available, but no later than forty-five (45) days following after the last day of each fiscal quarter or the date of the
filing of Borrower’s reports on Form 10-Q with the Securities and Exchange Commission for such fiscal quarter of the Borrower, a company prepared consolidated balance sheet, income statement and cash flow
statement covering the consolidated operations of Borrower and its Subsidiaries for such quarter certified by a Responsible Officer and in a form reasonably acceptable to Collateral Agent; 

(ii) as soon as available, but no later than ninety (90) days after the last day of Borrower’s fiscal year or within five
(5) days of filing with the Securities and Exchange Commission, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified opinion (other than with respect to Maturity Date (and the impact
of the Obligations payable on such date) that is within one year from the time such opinion is delivered) on such financial statements from an independent certified public accounting firm acceptable to Collateral Agent in its reasonable discretion
(it being understood that KPMG is acceptable to the Collateral Agent); 
 (iii) as soon as available after approval thereof by
Borrower’s board of directors, but no later than the earlier of ten (10) days after such approval and forty-five (45) days after the last day of Borrower’s fiscal year, Borrower’s annual (A) financial projections and
(B) budget, in each case, for the entire current fiscal year as approved by Borrower’s board of directors, which such financial projections and budget shall be set forth in a quarterly format (such annual financial projections as
originally delivered to Collateral Agent are referred to herein as the “Annual Projections”; provided that, any revisions to the Annual Projections approved by Borrower’s board of directors shall be delivered to Collateral
Agent and the Lenders no later than ten (10) days after such approval); 
 (iv) within five (5) days of delivery, copies of all non-ministerial statements, reports and notices made available to Borrower’s board of directors provided at full meetings of the board of directors (“Board Packages”); provided however that Borrower
need not provide the Lenders with copies of routine actions of the board of directors, including without limitation option and stock grants under Borrower’s equity incentive plan in the normal course of business; and provided, further, however,
that such Board Packages may be redacted to the extent that (i) the board of directors determines such redaction is reasonably necessary to preserve the attorney-client privilege between Borrower and its counsel or any Subsidiary of Borrower
and its counsel, to protect highly confidential proprietary information, or to comply with applicable law or regulation, (ii) such redacted material relates to the Lenders (or Borrower’s strategy regarding the Loans or Lenders) or
(iii) such redacted material relates to executive sessions of the Borrower’s board of directors; 
 (v) in the event that
Borrower becomes subject to the reporting requirements under the Securities Exchange Act of 1934, as amended, within five (5) days of filing, all reports on Form 10 K, 10 Q and 8 K filed with the Securities and Exchange Commission; 

(vi) prompt notice of any amendments of or other changes to the Operating Documents of Borrower or any of its Subsidiaries in manner that is
adverse to the interest of the Lenders, together with any copies reflecting such amendments or changes with respect thereto; 
 (vii) as
soon as available, but no later than thirty (30) days after the last day of each month, copies of the month end account statements for each Collateral Account maintained by Borrower or its Subsidiaries, which statements may be provided to
Collateral Agent and each Lender by Borrower or directly from the applicable institution(s); 

  
 10 

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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (viii) prompt delivery of (and in any event within five (5) days after the same are
sent or received) copies of all material correspondence, reports, documents and other filings with any Governmental Authority that could reasonably be expected to have a material adverse effect on any of the Governmental Approvals material to
Borrower’s business or otherwise could reasonably be expected to have a Material Adverse Change; 
 (ix) prompt notice after becoming
aware of any event that (A) could reasonably be expected to materially and adversely affect the Borrower’s Intellectual Property; provided, that if Borrower has reasonably and in good faith determined that a common interest agreement is
advisable prior to disclosure of such event to preserve the attorney-client privilege between Borrower and its counsel or any Subsidiary of Borrower and its counsel, Collateral Agent and/or Lender shall enter into a common interest agreement with
Borrower in a form reasonably acceptable to Borrower before any disclosure of such event is made, and (B) could reasonably be expected to result in a Material Adverse Change; 

(x) written notice at least (10) days’ prior to Borrower’s creation of a New Subsidiary in accordance with the terms of
Section 6.10; 
 (xi) prompt written notice of any of Borrower’s (A) adding any new offices or business locations, including
warehouses (unless such new offices or business locations contain less than Two Hundred Fifty Thousand Dollars ($250,000.00) in assets or property of Borrower or any of its Subsidiaries), (B) changing its jurisdiction of organization,
(C) changing its organizational structure or type, (D) changing its legal name, or (E) changing any organizational number (if any) assigned by its jurisdiction of organization; 

(xii) upon Borrower becoming aware of the existence of any Event of Default or event which, with the giving of notice or passage of time, or
both, would constitute an Event of Default, prompt (and in any event within three (3) Business Days) written notice of such occurrence, which such notice shall include a reasonably detailed description of such Event of Default or event which,
with the giving of notice or passage of time, or both, would constitute an Event of Default; 
 (xiii) prompt notice if Borrower or such
Subsidiary has Knowledge that Borrower, or any Subsidiary or Affiliate of Borrower, is listed on the OFAC Lists or (a) is convicted on, (b) pleads nolo contendere to, (c) is indicted on, or (d) is arraigned and held over
on charges involving money laundering or predicate crimes to money laundering; 
 (xiv) written notice of any commercial tort claim in
excess of $250,000 and of the general details thereof; 
 (xv) if Borrower or any of its Subsidiaries is not now a Registered Organization
but later becomes one, written notice of such occurrence and information regarding such Person’s organizational identification number within seven (7) Business Days of receiving such organizational identification number; and 

(xvi) other information as reasonably requested by Collateral Agent or any Lender. 

Notwithstanding anything to the contrary in this Section 6.2(a), documents required to be delivered pursuant to the terms hereof (to the extent any such
documents are included in materials otherwise filed with the Securities and Exchange Commission) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date on which Borrower posts such documents, or
provides a link thereto, on Borrower’s website on the internet at Borrower’s website address or on the Securities and Exchange Commission’s website at www.sec.gov (or any successor website). 

(b) Concurrently with the delivery of the financial statements specified in Section 6.2(a)(i) above, deliver to Collateral Agent for
delivery to each Lender: 
 (i) a duly completed Compliance Certificate signed by a Responsible Officer; 

(ii) if such month is the last month of the quarter, an updated Perfection Certificate to reflect any amendments, modifications and updates
to certain information in the Perfection Certificate after the 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
Effective Date to the extent such amendments, modifications and updates are permitted by one or more specific provisions in this Agreement; in each case, subject to the review and approval of
Collateral Agent and each Lender; 
 (iii) copies of any material Governmental Approvals obtained by Borrower or any of its Subsidiaries
(other than relating to Intellectual Property); 
 (iv) written notice of the commencement of, and any material development in, the
proceedings contemplated by Section 5.8 hereof; 
 (v) written notice of any litigation or governmental proceedings pending or
threatened (in writing) against Borrower or any of its Subsidiaries, which could reasonably be expected to result in damages or costs to Borrower or any of its Subsidiaries of more than One Hundred and Fifty Thousand Dollars ($150,000.00); and 

(vi) written notice of all returns, recoveries, disputes and claims regarding Inventory that involve more than One Hundred and Fifty Thousand
Dollars ($150,000.00) individually or in the aggregate in any calendar year. 
 (c) Keep proper, complete and true books of record and
account in accordance with GAAP in all material respects. Borrower shall, and shall cause each of its Subsidiaries to, allow, at the sole reasonable cost of Borrower, Collateral Agent or any Lender, during regular business hours upon reasonable
prior notice (provided that no notice shall be required when an Event of Default has occurred and is continuing), to visit and inspect any of its properties, to examine and make abstracts or copies from any of its books and records, and to conduct a
collateral audit and analysis of its operations and the Collateral. Such audits shall be conducted no more often than twice every year unless (and more frequently if) an Event of Default has occurred and is continuing. Notwithstanding the foregoing,
upon request of any Lender, Borrower agrees to permit such Lender to communicate with Borrower’s accounting firm with respect to the consolidated financial statements delivered pursuant to this Section 6.2. 

6.3 Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects. Returns and allowances
between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. 

6.4 Taxes; Pensions. Timely file and require each of its Subsidiaries to timely file, all required tax returns and reports and
timely pay, and require each of its Subsidiaries to timely pay, all foreign, federal, state, and local taxes, assessments, deposits and contributions owed by Borrower or its Subsidiaries, except as otherwise permitted pursuant to the terms of
Section 5.8 hereof, and shall deliver to Collateral Agent for delivery to each Lender, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to fund all present pension, profit sharing and deferred
compensation plans in accordance with the terms of such plans. 
 6.5 Insurance. Keep Borrower’s and its
Subsidiaries’ business and the Collateral insured for risks and in amounts standard for companies in Borrower’s and its Subsidiaries’ industry and location and as Collateral Agent may reasonably request, including, but not limited to,
D&O insurance reasonably satisfactory to Collateral Agent. Insurance policies shall be in a form, with companies, and in amounts that are reasonably satisfactory to Collateral Agent and Lenders (provided that Chubb is satisfactory to Collateral
Agent and Lenders). All property policies shall have a lender’s loss payable endorsement showing Collateral Agent as lender loss payee and waive subrogation against Collateral Agent, and all liability policies shall show, or have endorsements
showing, Collateral Agent, as additional insured. The Collateral Agent shall be named as lender loss payee and/or additional insured with respect to any such insurance providing coverage in respect of any Collateral, and each provider of any such
insurance shall agree, by endorsement upon the policy or policies issued by it or by independent instruments furnished to the Collateral Agent, that it will give the Collateral Agent thirty (30) days’ prior written notice before any such
policy or policies shall be materially altered or canceled. At Collateral Agent’s request, Borrower shall deliver certified copies of policies and evidence of all premium payments. Proceeds payable under any policy shall, at Collateral
Agent’s option, be payable to Collateral Agent, for the ratable benefit of the Lenders, on account of the Obligations. Notwithstanding the foregoing, (a) so long as no Event of Default has occurred and is continuing, Borrower shall have
the option of applying the proceeds of any casualty policy within 180 days of receipt thereof up to One Hundred Thousand Dollars ($100,000.00) with respect to any loss, but not exceeding One Hundred 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
Thousand Dollars ($100,000.00), in the aggregate for all losses under all casualty policies in any one year, toward the replacement or repair of destroyed or damaged property; provided that any
such replaced or repaired property (i) shall be of equal or like value as the replaced or repaired Collateral and (ii) shall be deemed Collateral in which Collateral Agent has been granted a first priority security interest, and
(b) after the occurrence and during the continuance of an Event of Default, all proceeds payable under such casualty policy shall, at the option of Collateral Agent, be payable to Collateral Agent, for the ratable benefit of the Lenders, on
account of the Obligations. If Borrower or any of its Subsidiaries fails to obtain insurance as required under this Section 6.5 or to pay any amount or furnish any required proof of payment to third persons, Collateral Agent and/or any Lender
may make (but has no obligation to do so), at Borrower’s expense, all or part of such payment or obtain such insurance policies required in this Section 6.5, and take any action under the policies Collateral Agent or such Lender deems
prudent. 
 6.6 Operating Accounts. 

(a) Borrower shall provide Collateral Agent five (5) days’ prior written notice before Borrower or any of its Subsidiaries
establishes any Collateral Account. For each Collateral Account that Borrower or any of its Subsidiaries at any time maintains, Borrower or such Subsidiary shall cause the applicable bank or financial institution at or with which such Collateral
Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Collateral Agent’s Lien in such Collateral Account in accordance with the terms hereunder within
thirty (30) days (or such later date as Collateral Agent may agree in its reasonable discretion) following the establishment of such Collateral Account, which Control Agreement may not be terminated without prior written consent of Collateral
Agent; provided that Borrower’s accounts with Citibank identified on the Perfection Certificate on the Effective Date will not be subject to this requirement so long as such accounts are closed no later than one hundred twenty (120) days
after the date hereof (or such later date as the Collateral Agent may agree) and the aggregate balance in such accounts does not exceed $1,500,000.00 at any given time. The provisions of the previous sentence shall not apply to deposit accounts
exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s, or any of its Subsidiaries’, employees (collectively, “Excluded Accounts”) and identified to
Collateral Agent by Borrower as such in the Perfection Certificate. Collateral Agent agrees not to place a “hold” or deliver a notice of exclusive control, entitlement order, or other similar directions or instructions under any Control
Agreement or similar agreements providing control of any Collateral unless an Event of Default has occurred. 
 (b) Neither Borrower nor any
of its Subsidiaries shall maintain any Collateral Accounts except Collateral Accounts maintained in accordance with Section 6.6. 

6.7 Protection of Intellectual Property Rights. Borrower and each of its Subsidiaries shall: (a) use commercially
reasonable efforts to protect, defend and maintain the validity and enforceability of its Intellectual Property that is material to its business; (b) promptly advise Collateral Agent in writing of a written challenge to the validity, or a
material infringement by a third party of its Intellectual Property material to its business; and (c) not allow any Intellectual Property material to its business to be abandoned, forfeited or dedicated to the public without Collateral
Agent’s prior written consent. If Borrower or any of its Subsidiaries (i) obtains any patent, registered trademark or servicemark, registered copyright, registered mask work, or any pending application for any of the foregoing, whether as
owner, licensee or otherwise, or (ii) applies for any patent or the registration of any trademark or servicemark, then Borrower or such Subsidiary shall no later than the end of the fiscal quarter during which registration for such Intellectual
Property is obtained or applied for, provide written notice thereof to Collateral Agent and each Lender and shall execute such intellectual property security agreements and other documents and take such other actions as Collateral Agent shall
reasonably request in its good faith business judgment to perfect and maintain a first priority perfected security interest in favor of Collateral Agent, for the ratable benefit of the Lenders, in such property to the extent that such property
constitutes Collateral; provided, however, before filing such security interests in any jurisdiction outside the United States, the Collateral Agent shall use its reasonable discretion to determine the commercial reasonableness of making such
filings. If Borrower or any of its Subsidiaries decides to register any copyrights or mask works in the United States Copyright Office, Borrower or such Subsidiary shall, to the extent constituting collateral: (x) provide Collateral Agent and
each Lender with prompt written notice of Borrower’s or such Subsidiary’s intent to register such copyrights or mask works together with a copy of the application it intends to file with the United States Copyright Office (excluding
exhibits thereto); (y) execute an intellectual property security agreement and such other documents and take such other actions as Collateral Agent may reasonably request in its good faith business judgment to perfect and maintain a first priority

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
perfected security interest in favor of Collateral Agent, for the ratable benefit of the Lenders, in the copyrights or mask works intended to be registered with the United States Copyright
Office; and (z) record such intellectual property security agreement with the United States Copyright Office contemporaneously with filing the copyright or mask work application(s) with the United States Copyright Office. Borrower or such
Subsidiary shall promptly provide to Collateral Agent and each Lender with evidence of the recording of the intellectual property security agreement necessary for Collateral Agent to perfect and maintain a first priority perfected security interest
in such property. 
 6.8 Litigation Cooperation. Commencing on the Effective Date and continuing through the termination of
this Agreement, make available to Collateral Agent and the Lenders, upon reasonable prior notice and during reasonable hours, without expense to Collateral Agent or the Lenders, Borrower and each of Borrower’s officers, employees and agents and
Borrower’s Books, to the extent that Collateral Agent or any Lender may reasonably deem them necessary to prosecute or defend any third party suit or proceeding instituted by or against Collateral Agent or any Lender with respect to any
Collateral or relating to an act of Borrower in connection with this Agreement. 
 6.9 Landlord Waivers; Bailee Waivers. In
the event that Borrower or any other Loan Party, after the Effective Date, intends to add any new offices or business locations, including warehouses, or otherwise store any portion of the Collateral with, or deliver any portion of the Collateral
to, a bailee, in each case pursuant to Section 7.2, then Borrower or such Loan Party will provide written notice thereof to Collateral Agent and, in the event that the new location is the chief executive office of the Borrower or such Loan
Party or the Collateral at any such new location is valued in excess of Two Hundred Fifty Thousand Dollars ($250,000.00) in the aggregate, at Collateral Agent’s election, such bailee or landlord, as applicable, must execute and deliver a bailee
waiver or landlord waiver, as applicable, in form and substance reasonably satisfactory to Collateral Agent prior to the addition of any new offices or business locations, or any such storage with or delivery to any such bailee, as the case may be.

 6.10 Creation/Acquisition of Subsidiaries. In the event any Borrower or any Loan Party creates or acquires any Subsidiary
after the Effective Date, Borrower or such Loan Party shall promptly notify Collateral Agent of such creation or acquisition, and Borrower or such Loan Party shall take all actions reasonably requested by Collateral Agent to achieve any of the
following with respect to such “New Subsidiary” (defined as a Subsidiary formed after the date hereof during the term of this Agreement): (i) to, at the option of the Borrower, cause such New Subsidiary to become either a co-Borrower hereunder, if such New Subsidiary is organized under the laws of the United States, or a secured guarantor with respect to the Obligations; and (ii) to grant and pledge to Collateral Agent a
perfected security interest in the Shares of such New Subsidiary. 
 6.11 Further Assurances. Execute any further instruments
and take further action as Collateral Agent or any Lender reasonably requests to perfect or continue Collateral Agent’s Lien in the Collateral or to effect the purposes of this Agreement. 

6.12 Financial Covenant. 

(a) Borrower shall deliver to Collateral Agent the Management Plan prior to the third anniversary of the Effective Date, which Management Plan
shall cover all applicable periods commencing on the third anniversary of the Effective Date through the Maturity Date on or before May 1, 2025. 

(b) Beginning on the date that is the third anniversary of the Effective Date, Borrower shall achieve the following TTM Revenue, as determined
pursuant to the most recent financial statements delivered (or required to be delivered) under Section 6.1(a)(i) or 6.1(a)(ii), as applicable, for the relevant testing period: As tested as of the last day of each quarter commencing with the
First Testing Quarter, TTM Revenue for the 12-month period then ended in an amount not less than fifty percent (50.00%) of the projections for the same 12-month period
as then ended as set forth in the Management Plan. Notwithstanding anything herein to the contrary, Borrower shall not be obligated to comply with the provisions of this Section 6.12(b) for any quarter if Borrower achieves TTM Revenue of at
least One Hundred Million Dollars ($100,000,000.00) as tested as of the last day of the immediately preceding quarter or has consistently maintained during the immediately preceding quarter cash assets of at least thirty percent (30%) of the
aggregate principal amount of Term Loans funded and outstanding pursuant to this Agreement in Collateral Accounts subject to Control Agreements in favor of Collateral Agent. 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 6.13 Liquidity Covenant. Borrower shall at all times maintain in a Collateral
Account subject to a Control Agreement in favor of Collateral Agent a cash balance of not less than five percent (5%) of the aggregate principal amount of Term Loans funded and outstanding pursuant to this Agreement. 

6.14 Material Agreements. Borrower shall notify Collateral Agent in writing within 14 days of termination of any Material
Agreement. 
  

	7.	 NEGATIVE COVENANTS 

For so long as any Obligations (other than inchoate indemnity obligations) remain outstanding or any Lender has any commitment to make a Term Loan hereunder,
Borrower shall not, and shall not permit any of its Subsidiaries to, do any of the following without the prior written consent of the Required Lenders: 

7.1 Dispositions. Convey, sell, lease, transfer, assign, dispose of (collectively, “Transfer”), or permit any of
its Subsidiaries to Transfer, all or any part of its business or property (including Intellectual Property), except for Transfers (a) of Inventory in the ordinary course of business; (b) of worn out, surplus or obsolete Equipment;
(c) in connection with Permitted Liens, Permitted Investments and Permitted Licenses, (d) Transfers (i) between or among Loan Parties, (ii) by Subsidiaries that are not Loan Parties in favor of Loan Parties and (iii) between or
among Subsidiaries that are not Loan Parties; (e) to the extent considered Transfers, transactions permitted under Sections 7.3, 7.5, 7.7, 7.8, 7.9 and (f) Transfers to EigerBio Europe Limited in an aggregate amount not exceeding $100,000
in any fiscal year; provided that no Intellectual Property will be Transferred to EigerBio Europe Limited other in connection with a non-exclusive Permitted Licenses. 

7.2 Changes in Business, Management, Ownership, or Business Locations. (a) Engage in or permit any of its Subsidiaries to
engage in any business other than the businesses engaged in by Borrower as of the Effective Date or reasonably related thereto; (b) liquidate or dissolve; or (c) (i) any Key Person shall cease to be actively engaged in the management of
Borrower unless written notice thereof is provided to Collateral Agent and within five (5) days of such change, or (ii) enter into any transaction or series of related transactions in which the stockholders of Borrower who were not
stockholders immediately prior to the first such transaction own fifty one percent (51%) or more of the voting stock of Borrower immediately after giving effect to such transaction or related series of such transactions (other than by the sale of
Borrower’s equity securities in a public offering, or a private placement of public equity). Borrower shall not, without at least thirty (30) days’ prior written notice to Collateral Agent: (A) add any new offices or business
locations, including warehouses (unless such new offices or business locations contain less than Two Hundred Fifty Thousand Dollars ($250,000.00) in assets or property of Borrower or any of its Subsidiaries); (B) change its jurisdiction of
organization, (C) change its organizational structure or type, (D) change its legal name, or (E) change any organizational number (if any) assigned by its jurisdiction of organization. 

7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other
Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock, shares or property of another Person other than pursuant to a Permitted Acquisition or a merger or reconsolidation solely among
Loan Parties. A Subsidiary (including without limitation of EB Pharma and EBPI) may merge or consolidate into another Subsidiary (provided such surviving Subsidiary is or becomes a “co Borrower” hereunder or has provided a secured Guaranty
of Borrower’s Obligations hereunder) or with (or into) Borrower provided Borrower is the surviving legal entity, and as long as no Event of Default has occurred or is continuing at the time thereof or arises as a result therefrom. 

7.4 Indebtedness. Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than
Permitted Indebtedness. 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 7.5 Encumbrance. Create, incur, allow, or suffer any Lien on any of its
property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest
granted herein (except for Permitted Liens), or enter into any agreement, document, instrument or other arrangement (except with or in favor of Collateral Agent, for the ratable benefit of the Lenders) with any Person which directly or indirectly
prohibits or has the effect of prohibiting Borrower, or any of its Subsidiaries, from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s or such Subsidiary’s Intellectual Property,
except as is otherwise permitted in Section 7.1 hereof and the definition of “Permitted Liens”. 
 7.6
Maintenance of Collateral Accounts. Maintain any Collateral Account except pursuant to the terms of Section 6.6 hereof. 

7.7 Restricted Payments. Pay any dividends (other than dividends payable solely in capital stock) or make any distribution or
payment in respect of or redeem, retire or purchase any capital stock (other than repurchases pursuant to the terms of employee stock purchase plans, employee restricted stock agreements, stockholder rights plans, director or consultant stock option
plans, or similar plans, provided such repurchases do not exceed Two Hundred Thousand Fifty Dollars ($250,000.00) in the aggregate per fiscal year). 

7.8 Investments. Directly or indirectly make any Investment other than Permitted Investments, or permit any of its Subsidiaries
to do so. 
 7.9 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction
with any Affiliate of Borrower or any of its Subsidiaries, except for (a) transactions that are in the ordinary course of Borrower’s or such Subsidiary’s business, upon fair and reasonable terms that are no less favorable to Borrower
or such Subsidiary than would be obtained in an arm’s length transaction with a non affiliated Person, (b) Subordinated Debt or equity investments by Borrower’s investors in Borrower or its Subsidiaries, (c) any transaction
explicitly permitted by Sections 7.1, 7.2, 7.3, 7.4, 7.5, 7.7, 7.8 and 7.10 to be entered into with an Affiliate, (d) compensation and indemnification of, and other employment arrangement with, directors, officers and employees of Borrower or
any Subsidiary, in each case entered into in the ordinary course of business in accordance with Borrower’s Annual Projections and corporate governance practices, and (e) loans and advances explicitly permitted hereunder to be made to the
applicable Affiliate. 
 7.10 Subordinated Debt. (a) Make or permit any payment on any Subordinated Debt, except under
the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof or
adversely affect the subordination thereof to Obligations owed to the Lenders. 
 7.11 Compliance. Become required to register
as an “investment company” or a company controlled by an “investment company”, under the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase or carry margin
stock (as defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Term Loan for that purpose; fail to meet the minimum funding requirements of ERISA, permit a Reportable Event or Prohibited
Transaction, as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if, in each case, the failure to comply or violation thereof could reasonably be expected to have a Material
Adverse Change, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial or complete termination of, or permit the occurrence of any other event with respect to, any present
pension, profit sharing and deferred compensation plan which could reasonably be expected to result in any liability of Borrower or any of its Subsidiaries, including any liability to the Pension Benefit Guaranty Corporation or its successors or any
other Governmental Authority. 
 7.12 Compliance with Anti Terrorism Laws. Neither Borrower nor any of its Subsidiaries shall,
nor shall Borrower or any of its Subsidiaries permit any Affiliate to, directly or indirectly, knowingly enter into any documents, instruments, agreements or contracts with any Person listed on the OFAC Lists in a manner inconsistent with U.S. law.
Neither Borrower nor any of its Subsidiaries shall, nor shall Borrower or any of its Subsidiaries, permit any Affiliate to, directly or indirectly, (i) conduct any business or engage in any transaction or dealing with any Blocked Person,
including, without limitation, the making or receiving of any contribution of funds, goods or 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
services to or for the benefit of any Blocked Person, (ii) deal in, or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to Executive
Order No. 13224 or other Anti Terrorism Law, or (iii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in
Executive Order No. 13224 or other Anti Terrorism Law, in each case where such action would be in a manner inconsistent with U.S. law. 
  

	8.	 EVENTS OF DEFAULT 

Any one of the following shall constitute an event of default (an “Event of Default”) under this Agreement: 

8.1 Payment Default. Borrower fails to (a) make any payment of principal or interest on any Term Loan on its due date, or
(b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date or acceleration
pursuant to Section 9.1 (a) hereof); 
 8.2 Covenant Default. 

(a) Borrower or any of its Subsidiaries fails or neglects to perform any obligation in Sections 6.2 (Financial Statements, Reports,
Certificates), 6.4 (Taxes), 6.5 (Insurance), 6.6 (Operating Accounts), 6.9 (Landlord Waivers; Bailee Waivers), 6.10 (Creation/Acquisition of Subsidiaries), 6.12 (Financial Covenant), 6.13 (Liquidity Covenant) or 6.15 (Permitted Acquisition) or
Borrower violates any provision in Section 7; provided, however, in the event that the Borrower fails to comply with the requirements of the financial covenant set forth in Section 6.12, such
non-compliance shall not be deemed an Event of Default unless Borrower fails to deliver to the Collateral Agent a new financial plan approved by the board of directors of the Borrower which plan must be
acceptable to Collateral Agent in its discretion, along with a plan of how to finance such new board approved financial plan, no later than thirty (30) days after the date on which the breach of the financial covenant occurred; provided,
further, that, upon such delivery the parties shall amend the covenant in Section 6.12 in accordance with the new financial plan which amendment must be acceptable to Collateral Agent and shall, among other things, require Borrower to achieve
the revenue projections set forth in the new financial plan; or 
 (b) Borrower, or any of its Subsidiaries, fails or neglects to perform,
keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition,
covenant or agreement that can be cured, has failed to cure the default within ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after
diligent attempts by Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to
attempt to cure such default, and within such reasonable time period the failure to cure the default shall not be deemed an Event of Default (but no Term Loan shall be made during such cure period); 

8.3 Material Adverse Change. A Material Adverse Change has occurred; 

8.4 Attachment; Levy; Restraint on Business. 

(a) (i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or any of its Subsidiaries or of any
entity under control of Borrower or its Subsidiaries on deposit with any institution at which Borrower or any of its Subsidiaries maintains a Collateral Account, or (ii) a notice of lien, levy, or assessment is filed against Borrower or any of
its Subsidiaries or their respective assets by any government agency, and the same under subclauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond
or otherwise); and 
 (b) (i) any material portion of Borrower’s or any of its Subsidiaries’ assets is attached, seized, levied
on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents Borrower or any of its Subsidiaries from conducting any part of its business; 

  
 17 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 8.5 Insolvency. (a) Borrower or any of its Subsidiaries is or becomes
Insolvent; (b) Borrower or any of its Subsidiaries begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower or any of its Subsidiaries and not dismissed or stayed within forty five (45) days (but no
Term Loan shall be extended while Borrower or any Subsidiary is Insolvent and/or until any Insolvency Proceeding is dismissed); 

8.6 Other Agreements. There is a default in any agreement to which Borrower or any of its Subsidiaries is a party with a third
party or parties resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of Five Hundred Thousand Dollars ($500,000.00) or that could reasonably be expected
to have a Material Adverse Change; 
 8.7 Judgments. (a) One or more judgments, orders, or decrees for the payment of
money in an amount, individually or in the aggregate, of at least Five Hundred Thousand Dollars ($500,000.00) (not covered by independent third party insurance) shall be rendered against Borrower or any of its Subsidiaries and shall remain
unsatisfied, unvacated, or unstayed for a period of forty five (45) days after the entry thereof or (b) any judgments, orders or decrees rendered against Borrower that could reasonably be expected to result in a Material Adverse Change;

 8.8 Misrepresentations. Borrower or any of its Subsidiaries or any Person acting for Borrower or any of its Subsidiaries
makes any representation, warranty, or other statement now or later in this Agreement, any Loan Document or in any writing delivered to Collateral Agent and/or Lenders or to induce Collateral Agent and/or the Lenders to enter this Agreement or any
Loan Document, and such representation, warranty, or other statement, when taken as a whole, is incorrect in any material respect when made; 

8.9 Subordinated Debt. A default or breach occurs under any agreement between Borrower or any of its Subsidiaries and any
creditor of Borrower or any of its Subsidiaries that signed a subordination, intercreditor, or other similar agreement with Collateral Agent or the Lenders, or any creditor that has signed such an agreement with Collateral Agent or the Lenders
breaches any terms of such agreement; 
 8.10 Guaranty. (a) Any Guaranty terminates or ceases for any reason to be in
full force and effect; (b) any Guarantor does not perform any obligation or covenant under any Guaranty; (c) any circumstance described in Section 8 occurs with respect to any Guarantor; or (d) a Material Adverse Change with
respect to any Guarantor; 
 8.11 Governmental Approvals; FDA Action. Any Governmental Approval shall have been revoked,
rescinded, suspended, modified in an adverse manner, or not renewed in the ordinary course for a full term and such revocation, rescission, suspension, modification or non-renewal has resulted in or could
reasonably be expected to result in a Material Adverse Change. 
 8.12 Lien Priority; Intellectual Property. Any Lien created
hereunder or by any other Loan Document shall at any time fail to constitute a valid and perfected Lien on any of the Collateral purported to be secured thereby, subject to no prior or equal Lien, other than Permitted Liens which are permitted to
have priority in accordance with the terms of this Agreement. 
 8.13 Delisting. The shares of common stock of Parent are
delisted from The Nasdaq Stock Market LLC because of failure to comply with continued listing standards thereof or due to a voluntary delisting which results in such shares not being listed promptly on any other nationally recognized stock exchange
in the United States having listing standards at least as restrictive as The Nasdaq Stock Market LLC. 
  

	9.	 RIGHTS AND REMEDIES 

9.1 Rights and Remedies. 

(a) Upon the occurrence and during the continuance of an Event of Default, Collateral Agent may, and at the written direction of the Required
lenders, shall, without notice or demand, do any or all of the following: (i) deliver notice of the Event of Default to Borrower, (ii) by notice to Borrower declare all Obligations immediately due and payable (but if an Event of Default
described in Section 8.5 occurs all Obligations shall be 

  
 18 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
immediately due and payable without any action by Collateral Agent or the Lenders) or (iii) by notice to Borrower suspend or terminate the obligations, if any, of the Lenders to advance
money or extend credit for Borrower’s benefit under this Agreement or under any other agreement between Borrower and Collateral Agent and/or the Lenders (but if an Event of Default described in Section 8.5 occurs all obligations, if any,
of the Lenders to advance money or extend credit for Borrower’s benefit under this Agreement or under any other agreement between Borrower and Collateral Agent and/or the Lenders shall be immediately terminated without any action by Collateral
Agent or the Lenders). 
 (b) Without limiting the rights of Collateral Agent and the Lenders set forth in Section 9.1(a) above, upon
the occurrence and during the continuance of an Event of Default, Collateral Agent shall have the right, at the written direction of the Required Lenders, without notice or demand, to do any or all of the following: 

(i) foreclose upon and/or sell or otherwise liquidate, the Collateral; 

(ii) apply to the Obligations any (a) balances and deposits of Borrower that Collateral Agent or any Lender holds or controls, or
(b) any amount held or controlled by Collateral Agent or any Lender owing to or for the credit or the account of Borrower; and/or 

(iii) commence and prosecute an Insolvency Proceeding or consent to Borrower commencing any Insolvency Proceeding. 

(c) Without limiting the rights of Collateral Agent and the Lenders set forth in Sections 9.1(a) and (b) above, upon the occurrence and
during the continuance of an Event of Default, Collateral Agent shall have the right, without notice or demand, to do any or all of the following: 

(i) settle or adjust disputes and claims directly with Account Debtors for amounts on terms and in any order that Collateral Agent considers
advisable, notify any Person owing Borrower money of Collateral Agent’s security interest in such funds, and verify the amount of such account; 

(ii) make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in the
Collateral. Borrower shall assemble the Collateral if Collateral Agent requests and make it available in a location as Collateral Agent reasonably designates. Collateral Agent may enter premises where the Collateral is located, take and maintain
possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Collateral Agent a license to enter and occupy
any of its premises, without charge, to exercise any of Collateral Agent’s rights or remedies; 
 (iii) ship, reclaim, recover, store,
finish, maintain, repair, prepare for sale, and/or advertise for sale, the Collateral. Collateral Agent is hereby granted a non exclusive, royalty free license or other right to use, without charge, Borrower’s and each of its Subsidiaries’
labels, Patents, Copyrights, mask works, rights of use of any name, trade secrets, trade names, Trademarks, service marks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for
sale, and selling any Collateral and, in connection with Collateral Agent’s exercise of its rights under this Section 9.1, Borrower’s and each of its Subsidiaries’ rights under all licenses and all franchise agreements inure to
Collateral Agent, for the benefit of the Lenders; 
 (iv) place a “hold” on any account maintained with Collateral Agent or the
Lenders and/or deliver a notice of exclusive control, any entitlement order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 

(v) demand and receive possession of Borrower’s Books; 

(vi) appoint a receiver to seize, manage and realize any of the Collateral, and such receiver shall have any right and authority as any
competent court will grant or authorize in accordance with any applicable law, including any power or authority to manage the business of Borrower or any of its Subsidiaries; and 

  
 19 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (vii) subject to clauses 9.1(a) and (b), exercise all rights and remedies available to
Collateral Agent and each Lender under the Loan Documents or at law or equity, including all remedies provided under the Code (including disposal of the Collateral pursuant to the terms thereof). 

Notwithstanding any provision of this Section 9.1 to the contrary, upon the occurrence of any Event of Default, Collateral Agent shall have the right to
exercise any and all remedies referenced in this Section 9.1 without the written consent of Required Lenders following the occurrence of an Exigent Circumstance. 

Notwithstanding anything in this Agreement to the contrary or elsewhere in the Loan Documents, following the occurrence and during the continuance of an Event
of Default, other than an Event of Default under Section 8.1 or Section 8.5 of this Agreement, the Lenders agrees to forbear from selling, leasing, licensing or otherwise disposing of any Collateral comprising Intellectual Property for a
period of up to forty-five (45) days after the occurrence of such Event of Default. 
 9.2 Power of Attorney. Borrower
hereby irrevocably appoints Collateral Agent as its lawful attorney in fact, exercisable upon the occurrence and during the continuance of an Event of Default, to: (a) endorse Borrower’s or any of its Subsidiaries’ name on any checks
or other forms of payment or security; (b) sign Borrower’s or any of its Subsidiaries’ name on any invoice or bill of lading for any Account or drafts against Account Debtors; (c) settle and adjust disputes and claims about the
Accounts directly with Account Debtors, for amounts and on terms Collateral Agent determines reasonable; (d) make, settle, and adjust all claims under Borrower’s insurance policies; (e) pay, contest or settle any Lien, charge,
encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge the same; and (f) transfer the Collateral into the name of Collateral Agent or a
third party as the Code or any applicable law permits. Borrower hereby appoints Collateral Agent as its lawful attorney in fact to sign Borrower’s or any of its Subsidiaries’ name on any documents necessary to perfect or continue the
perfection of Collateral Agent’s security interest in the Collateral regardless of whether an Event of Default has occurred until all Obligations (other than inchoate indemnity obligations) have been satisfied in full and Collateral Agent and
the Lenders are under no further obligation to extend the Term Loan hereunder. Collateral Agent’s foregoing appointment as Borrower’s or any of its Subsidiaries’ attorney in fact, and all of Collateral Agent’s rights and powers,
coupled with an interest, are irrevocable until all Obligations (other than inchoate indemnity obligations) have been fully repaid and performed and Collateral Agent’s and the Lenders’ obligation to provide the Term Loan terminates. 

9.3 Protective Payments. If Borrower or any of its Subsidiaries fail to obtain the insurance called for by Section 6.5 or
fails to pay any premium thereon or fails to pay any other amount which Borrower or any of its Subsidiaries is obligated to pay under this Agreement or any other Loan Document, Collateral Agent may obtain such insurance or make such payment, and all
amounts so paid by Collateral Agent are Lenders’ Expenses and immediately due and payable, bearing interest at the Default Rate, and secured by the Collateral. Collateral Agent will make reasonable efforts to provide Borrower with notice of
Collateral Agent obtaining such insurance or making such payment at the time it is obtained or paid or within a reasonable time thereafter. No such payments by Collateral Agent are deemed an agreement to make similar payments in the future or
Collateral Agent’s waiver of any Event of Default. 
 9.4 Application of Payments and Proceeds. Notwithstanding anything
to the contrary contained in this Agreement, upon the occurrence and during the continuance of an Event of Default, (a) Borrower irrevocably waives the right to direct the application of any and all payments at any time or times thereafter
received by Collateral Agent from or on behalf of Borrower or any of its Subsidiaries of all or any part of the Obligations, and, as between Borrower on the one hand and Collateral Agent and Lenders on the other, Collateral Agent shall have the
continuing and exclusive right to apply and to reapply any and all payments received against the Obligations in such manner as Collateral Agent may deem advisable notwithstanding any previous application by Collateral Agent, and (b) the
proceeds of any sale of, or other realization upon all or any part of the Collateral shall be applied: first, to the Lenders’ Expenses; second, to accrued and unpaid interest on the Obligations (including any interest which, but for the
provisions of the United States Bankruptcy Code, would have accrued on such amounts); third, to the principal amount of the Obligations outstanding; and fourth, to any other indebtedness or obligations of Borrower owing to Collateral Agent or any
Lender under the Loan Documents. Any balance remaining shall be delivered to Borrower or to whoever may be lawfully entitled to receive such balance or as a court of competent jurisdiction may direct. In

  
 20 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
carrying out the foregoing, (x) amounts received shall be applied in the numerical order provided until exhausted prior to the application to the next succeeding category, and (y) each
of the Persons entitled to receive a payment in any particular category shall receive an amount equal to its pro rata share of amounts available to be applied pursuant thereto for such category. Any reference in this Agreement to an allocation
between or sharing by the Lenders of any right, interest or obligation “ratably,” “proportionally” or in similar terms shall refer to Pro Rata Share unless expressly provided otherwise. Collateral Agent, or if applicable, each
Lender, shall promptly remit to the other Lenders such sums as may be necessary to ensure the ratable repayment of each Lender’s portion of any Term Loan and the ratable distribution of interest, fees and reimbursements paid or made by
Borrower. Notwithstanding the foregoing, a Lender receiving a scheduled payment shall not be responsible for determining whether the other Lenders also received their scheduled payment on such date; provided, however, if it is later determined that
a Lender received more than its ratable share of scheduled payments made on any date or dates, then such Lender shall remit to Collateral Agent or other Lenders such sums as may be necessary to ensure the ratable payment of such scheduled payments,
as instructed by Collateral Agent. If any payment or distribution of any kind or character, whether in cash, properties or securities, shall be received by a Lender in excess of its ratable share, then the portion of such payment or distribution in
excess of such Lender’s ratable share shall be received by such Lender in trust for and shall be promptly paid over to the other Lender for application to the payments of amounts due on the other Lenders’ claims. To the extent any payment
for the account of Borrower is required to be returned as a voidable transfer or otherwise, the Lenders shall contribute to one another as is necessary to ensure that such return of payment is on a pro rata basis. If any Lender shall obtain
possession of any Collateral, it shall hold such Collateral for itself and as agent and bailee for Collateral Agent and other Lenders for purposes of perfecting Collateral Agent’s security interest therein. 

9.5 Liability for Collateral. So long as Collateral Agent and the Lenders comply with reasonable banking practices regarding the
safekeeping of the Collateral in the possession or under the control of Collateral Agent and the Lenders, Collateral Agent and the Lenders shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or
damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Subject to the immediately preceding sentence, Borrower bears all risk of loss,
damage or destruction of the Collateral. 
 9.6 No Waiver; Remedies Cumulative. Failure by Collateral Agent or any Lender, at
any time or times, to require strict performance by Borrower of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Collateral Agent or any Lender thereafter to demand strict performance and
compliance herewith or therewith. No waiver hereunder shall be effective unless signed by Collateral Agent and the Required Lenders and then is only effective for the specific instance and purpose for which it is given. The rights and remedies of
Collateral Agent and the Lenders under this Agreement and the other Loan Documents are cumulative. Collateral Agent and the Lenders have all rights and remedies provided under the Code, any applicable law, by law, or in equity. The exercise by
Collateral Agent or any Lender of one right or remedy is not an election, and Collateral Agent’s or any Lender’s waiver of any Event of Default is not a continuing waiver. Collateral Agent’s or any Lender’s delay in exercising
any remedy is not a waiver, election, or acquiescence. 
 9.7 Demand Waiver. Borrower waives, to the fullest extent permitted
by law, demand, notice of default or dishonor, notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees
held by Collateral Agent or any Lender on which Borrower or any Subsidiary is liable. 
  

	10.	 NOTICES 

All notices, consents, requests, approvals, demands, or other communication (collectively, “Communication”) by any party to this Agreement or
any other Loan Document must be in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or
certified mail return receipt requested, with proper postage prepaid; (b) upon transmission, when sent by facsimile transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or
(d) when delivered, if hand delivered by messenger, all of which shall be addressed to the party to be notified and sent to the address, facsimile number, or email address indicated below. Any of Collateral Agent, Lender or Borrower may change
its mailing address or facsimile number by giving the other party written notice thereof in accordance with the terms of this Section 10. 

  
 21 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

					
		  	If to Borrower:	  	EIGER BIOPHARMACEUTICALS, INC.
		  		  	EB Pharma, LLC
		  		  	EBPI Merger, Inc.
		  		  	2155 Park Blvd.
		  		  	Palo Alto, CA 94306
		  		  	Attn: Sri Ryali
		  		  	Email: [***]
			
		  	with a copy (which shall	  	
		  	not constitute notice) to:	  	SIDLEY AUSTIN LLP
		  		  	555 California Street Suite 2000
		  		  	San Francisco, CA 94104
		  		  	Attn: Carlton Fleming
		  		  	Email: [***] 
			
		  	If to Collateral Agent:	  	INNOVATUS LIFE SCIENCES
		  		  	LENDING FUND I, LP
		  		  	777 Third Avenue, 25th Floor
		  		  	New York, NY 10017
		  		  	Attn: Claes Ekstrom
		  		  	Email: [***] 
			
		  	with a copy (which shall	  	
		  	not constitute notice) to:	  	Greenberg Traurig, LLP
		  		  	One International Place
		  		  	Boston, MA 02110
		  		  	Attn: Abdullah Malik
		  		  	Fax: (617) 897-0983
		  		  	Email: [***] 

  

	11.	 CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER 

11.1 Waiver of Jury Trial. EACH OF BORROWER, COLLATERAL AGENT AND LENDERS UNCONDITIONALLY WAIVES ANY AND ALL RIGHT TO A JURY
TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, ANY OF THE OTHER LOAN DOCUMENTS, ANY OF THE INDEBTEDNESS SECURED HEREBY, ANY DEALINGS AMONG BORROWER, COLLATERAL AGENT AND/OR LENDERS RELATING TO THE SUBJECT MATTER
OF THIS TRANSACTION OR ANY RELATED TRANSACTIONS, AND/OR THE RELATIONSHIP THAT IS BEING ESTABLISHED AMONG BORROWER, COLLATERAL AGENT AND/OR LENDERS. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED
IN ANY COURT. THIS WAIVER IS IRREVOCABLE. THIS WAIVER MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING. THE WAIVER ALSO SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENTS, OR
TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THIS TRANSACTION OR ANY RELATED TRANSACTION. THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 

11.2 Governing Law and Jurisdiction. 

(a) THIS AGREEMENT, THE OTHER LOAN DOCUMENTS (EXCLUDING THOSE LOAN DOCUMENTS THAT BY THEIR OWN TERMS ARE EXPRESSLY GOVERNED BY THE LAWS OF
ANOTHER JURISDICTION) AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL IN ALL RESPECTS BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICT OF LAWS
PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAWS OTHER THAN THE LAWS OF THE STATE OF NEW YORK), INCLUDING ALL MATTERS OF CONSTRUCTION, 

  
 22 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
VALIDITY AND PERFORMANCE, REGARDLESS OF THE LOCATION OF THE COLLATERAL, PROVIDED, HOWEVER, THAT IF THE LAWS OF ANY JURISDICTION OTHER THAN NEW YORK SHALL GOVERN IN REGARD TO THE VALIDITY,
PERFECTION OR EFFECT OF PERFECTION OF ANY LIEN OR IN REGARD TO PROCEDURAL MATTERS AFFECTING ENFORCEMENT OF ANY LIENS IN COLLATERAL, SUCH LAWS OF SUCH OTHER JURISDICTIONS SHALL CONTINUE TO APPLY TO THAT EXTENT. 

(b) Submission to Jurisdiction. Any legal action or proceeding with respect to the Loan Documents shall be brought exclusively in the
courts of the State of New York located in the City of New York, Borough of Manhattan, or of the United States of America for the Southern District of New York and, by execution and delivery of this Agreement, Borrower hereby accepts for itself and
in respect of its Property, generally and unconditionally, the jurisdiction of the aforesaid courts. Notwithstanding the foregoing, Collateral Agent and Lenders shall have the right to bring any action or proceeding against Borrower (or any property
of Borrower) in the court of any other jurisdiction Collateral Agent or Lenders deem necessary or appropriate in order to realize on the Collateral or other security for the Obligations. The parties hereto hereby irrevocably waive any objection,
including any objection to the laying of venue or based on the grounds of forum non conveniens, that any of them may now or hereafter have to the bringing of any such action or proceeding in such jurisdictions. 

(c) Service of Process. Borrower irrevocably waives personal service of any and all legal process, summons, notices and other documents
and other service of process of any kind and consents to such service in any suit, action or proceeding brought in the United States of America with respect to or otherwise arising out of or in connection with any Loan Document by any means
permitted by applicable requirements of law, including by the mailing thereof (by registered or certified mail, postage prepaid) to the address of Borrower specified herein (and shall be effective when such mailing shall be effective, as provided
therein). Borrower agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

(d) Non-exclusive Jurisdiction. Nothing contained in this Section 11.2 shall affect the
right of Collateral Agent or Lenders to serve process in any other manner permitted by applicable requirements of law or commence legal proceedings or otherwise proceed against Borrower in any other jurisdiction. 

 

	12.	 GENERAL PROVISIONS 

12.1 Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party.
Borrower may not transfer, pledge or assign this Agreement or any rights or obligations under it without Collateral Agent’s prior written consent (which may be granted or withheld in Collateral Agent’s discretion, subject to
Section 12.5). The Lenders have the right to sell, transfer, assign, pledge, negotiate, or grant participation in (any such sale, transfer, assignment, negotiation, or grant of a participation, a “Lender Transfer”) all or any
part of, or any interest in, the Lenders’ obligations, rights, and benefits under this Agreement and the other Loan Documents; provided that any assignment by a Lender will be subject to the prior written consent of Borrower unless an Event of
Default has occurred and is continuing at the time of such assignment, or the assignment is to a Lender, an Affiliate of a Lender, or an Approved Fund. 

12.2 Indemnification. Borrower agrees to indemnify, defend and hold Collateral Agent and the Lenders and their respective
directors, officers, employees, consultants, agents, attorneys, or any other Person affiliated with or representing Collateral Agent or the Lenders (each, an “Indemnified Person”) harmless against: (a) all obligations, demands,
claims, and liabilities (collectively, “Claims”) asserted by any other party in connection with; related to; following; or arising from, out of or under, the transactions contemplated by the Loan Documents; and (b) all losses
or Lenders’ Expenses incurred, or paid by an Indemnified Person in connection with; related to; following; or arising from, out of or under, the transactions contemplated by the Loan Documents between Collateral Agent, and/or the Lenders and
Borrower (including reasonable and documented, attorneys’ fees and expenses), except for Claims and/or losses that (x) arise from disputes solely among Indemnified Persons (other than a claim against an Indemnified Person in its role as
Collateral Agent (unless such claim would otherwise be excluded pursuant to clause (y) below)) which do not arise out of any act or omission of any Loan Party or any of their Subsidiaries or (y) are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnified Person. Borrower 

  
 23 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
hereby further indemnifies, defends and holds each Indemnified Person harmless from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
claims, costs, expenses and disbursements of any kind or nature whatsoever (including the fees and disbursements of counsel for such Indemnified Person in connection with any investigative, response, remedial, administrative or judicial matter or
proceeding, whether or not such Indemnified Person shall be designated a party thereto and including any such proceeding initiated by or on behalf of Borrower, and the reasonable expenses of investigation by engineers, environmental consultants and
similar technical personnel and any commission, fee or compensation claimed by any broker (other than any broker retained by Collateral Agent or Lenders) asserting any right to payment for the transactions contemplated hereby which may be imposed
on, incurred by or asserted against such Indemnified Person as a result of or in connection with the transactions contemplated hereby and the use or intended use of the proceeds of the loan proceeds except for liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, claims, costs, expenses and disbursements directly caused by such Indemnified Person’s gross negligence or willful misconduct. 

12.3 Severability of Provisions. Each provision of this Agreement is severable from every other provision in determining the
enforceability of any provision. 
 12.4 Correction of Loan Documents. Collateral Agent may correct patent errors and fill in
any blanks in this Agreement and the other Loan Documents consistent with the agreement of the parties, so long as Collateral Agent provides Borrower with written notice of such correction and allows the Borrower at least ten (10) days to
object to such correction. In the event of such objection, such correction shall not be made except by an amendment signed by Lenders, Collateral Agent and Borrower. 

12.5 Amendments in Writing; Integration. (a) No amendment, modification, termination or waiver of any provision of this
Agreement or any other Loan Document, no approval or consent thereunder, or any consent to any departure by Borrower or any of its Subsidiaries therefrom, shall in any event be effective unless the same shall be in writing and signed by Borrower,
Collateral Agent and the Required Lenders provided that: 
 (i) no such amendment, waiver or other modification that would have the effect
of increasing or reducing a Lender’s Term Loan Commitment or Commitment Percentage shall be effective as to such Lender without such Lender’s written consent; 

(ii) no such amendment, waiver or modification that would affect the rights and duties of Collateral Agent shall be effective without
Collateral Agent’s written consent or signature; and 
 (iii) no such amendment, waiver or other modification shall, unless signed by
all the Lenders directly affected thereby, (A) reduce the principal of, rate of interest on or any fees with respect to any Term Loan or forgive any principal, interest (other than default interest) or fees (other than late charges) with
respect to any Term Loan (B) postpone the date fixed for, or waive, any payment of principal of any Term Loan or of interest on any Term Loan (other than default interest) or any fees provided for hereunder (other than late charges or for any
termination of any commitment); (C) change the definition of the term “Required Lenders” or the percentage of Lenders which shall be required for the Lenders to take any action hereunder; (D) release all or substantially all of any
material portion of the Collateral, authorize Borrower to sell or otherwise dispose of all or substantially all or any material portion of the Collateral or release any Guarantor of all or any portion of the Obligations or its guaranty obligations
with respect thereto, except, in each case with respect to this clause (D), as otherwise may be expressly permitted under this Agreement or the other Loan Documents (including in connection with any disposition permitted hereunder); (E) amend, waive
or otherwise modify this Section 12.5 or the definitions of the terms used in this Section 12.5 insofar as the definitions affect the substance of this Section 12.5; (F) consent to the assignment, delegation or other transfer by
Borrower of any of its rights and obligations under any Loan Document or release Borrower of its payment obligations under any Loan Document, except, in each case with respect to this clause (F), pursuant to a merger or consolidation permitted
pursuant to this Agreement; (G) amend any of the provisions of Section 9.4 or amend any of the definitions of Pro Rata Share, Term Loan Commitment, Commitment Percentage or that provide for the Lenders to receive their Pro Rata Shares of
any fees, payments, setoffs or proceeds of Collateral hereunder; (H) subordinate the Liens granted in favor of Collateral Agent securing the Obligations; or (I) amend any of the provisions of Section 12.5. It is hereby understood and
agreed that all Lenders shall be deemed directly affected by an amendment, waiver or other modification of the type described in the preceding clauses (C), (D), (E), (F), (G) and (H) of the immediately preceding sentence. 

  
 24 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (b) Other than as expressly provided for in Section 12.5(a)(i) (iii), Collateral Agent
may, if requested by the Required Lenders, from time to time designate covenants in this Agreement less restrictive by notification to a representative of Borrower. 

(c) This Agreement and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or
agreements with respect to such subject matter. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Agreement and the Loan Documents merge into this Agreement and
the Loan Documents. 
 12.6 Counterparts. This Agreement may be executed in any number of counterparts and by different
parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. 

12.7 Survival. All covenants, representations and warranties made in this Agreement continue in full force and effect until this
Agreement has terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) have been satisfied. The obligation of
Borrower in Section 12.2 to indemnify each Lender and Collateral Agent, as well as the confidentiality provisions in Section 12.8 below, shall survive until the statute of limitations with respect to such claim or cause of action shall
have run. 
 12.8 Confidentiality. In handling any confidential information of Borrower, the Lenders and Collateral Agent
shall exercise the same degree of care that it exercises for their own proprietary information, but disclosure of information may be made: (a) subject to the terms and conditions of this Agreement, to the Lenders’ and Collateral
Agent’s Subsidiaries or Affiliates; (b) to prospective transferees (other than those identified in (a) above) or purchasers of any interest in the Term Loan permitted hereunder (provided, however, the Lenders and Collateral Agent
shall, except upon the occurrence and during the continuance of an Event of Default, obtain such prospective transferee’s or purchaser’s agreement to the terms of this provision or to similar confidentiality terms); (c) as required by law,
regulation, subpoena, or other order; (d) to Lenders’ or Collateral Agent’s regulators or as otherwise required in connection with an examination or audit; (e) as Collateral Agent reasonably considers appropriate in exercising
remedies under the Loan Documents; and (f) to third party service providers of the Lenders and/or Collateral Agent so long as such service providers have executed a confidentiality agreement or have agreed to similar confidentiality terms with
the Lenders and Collateral Agent with terms no less restrictive than those contained herein. Confidential information does not include information that either: (i) is in the public domain or in the Lenders’ and/or Collateral Agent’s
possession when disclosed to the Lenders and/or Collateral Agent, or becomes part of the public domain after disclosure to the Lenders and/or Collateral Agent at no fault of the Lenders or the Collateral Agent; or (ii) is disclosed to the
Lenders and/or Collateral Agent by a third party, if the Lenders and/or Collateral Agent does not know that the third party is prohibited from disclosing the information. Collateral Agent and the Lenders may use confidential information for any
purpose, including, without limitation, for the development of client databases, reporting purposes, and market analysis, in each case so long as Collateral Agent does not disclose Borrower’s identity or the identity of any person associated
with Borrower unless otherwise expressly permitted by this Agreement. The provisions of the immediately preceding sentence shall survive the termination of this Agreement. The agreements provided under this Section 12.8 supersede all prior
agreements, understanding, representations, warranties, and negotiations between the parties about the subject matter of this Section 12.8. 

12.9 Right of Set Off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set
off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or
control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an
Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other
collateral securing the Obligations. ANY AND ALL 

  
 25 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO
SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED BY BORROWER. 
 12.10
Cooperation of Borrower. If necessary, Borrower agrees to (i) execute any documents reasonably required to effectuate and acknowledge each assignment of a Term Loan Commitment or Term Loan to an assignee in accordance with
Section 12.1, (ii) make Borrower’s management available to meet with Collateral Agent and prospective participants and assignees of Term Loan Commitments (which meetings shall be conducted no more often than twice every twelve months
unless an Event of Default has occurred and is continuing), and (iii) assist Collateral Agent or the Lenders in the preparation of information relating to the financial affairs of Borrower as any prospective participant or assignee of a Term
Loan Commitment or Term Loan reasonably may request. Subject to the provisions of Section 12.8, Borrower authorizes each Lender to disclose to any prospective participant or assignee of a Term Loan Commitment, any and all information in such
Lender’s possession concerning Borrower and its financial affairs which has been delivered to such Lender by or on behalf of Borrower pursuant to this Agreement, or which has been delivered to such Lender by or on behalf of Borrower in
connection with such Lender’s credit evaluation of Borrower prior to entering into this Agreement. 
 12.11 Public
Announcement. Borrower hereby agrees that after Borrower has publicly disclosed the transactions contemplated by this Agreement on the internet at Borrower’s website address or on the Securities and Exchange Commission’s website at
www.sec.gov (or any successor website), Collateral Agent may publicize the same by means of a tombstone advertisement on Collateral Agent’s website and use Borrower’s name, tradenames and logos in connection therewith. 

12.12 Collateral Agent and Lender Agreement. Collateral Agent and each Lender hereby agree to the terms and conditions set forth
on Annex I attached hereto. Borrower acknowledges and agrees to the terms and conditions set forth on Annex I attached hereto. 

12.13 Borrower Liability. Either Borrower may, acting singly, request Credit Extensions hereunder. Each Borrower hereby appoints
the other as agent for the other for all purposes hereunder, including with respect to requesting Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all Credit Extensions made hereunder, regardless
of which Borrower actually receives said Credit Extension, as if each Borrower hereunder directly received all Credit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable law, and
(b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Collateral Agent and or any Lender
may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non judicial sale) without affecting any Borrower’s liability. Notwithstanding any other
provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Collateral Agent and the Lenders
under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower
with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the
Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section shall be null and void. If any payment is made to a Borrower in
contravention of this Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations, whether matured or unmatured.

  

	13.	 DEFINITIONS 

As used in this Agreement, the following terms have the following meanings: 

“Account” is any “account” as defined in the Code with such additions to such term as may hereafter be made, and includes, without
limitation, all accounts receivable and other sums owing to Borrower. 

  
 26 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 “Account Debtor” is any “account debtor” as defined in the Code with such
additions to such term as may hereafter be made under the Code. 
 “Affiliate” of any Person is a Person that owns or controls directly or
indirectly the Person, any Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners if such Person is a partnership and, for any Person that is
a limited liability company, that Person’s managers and members. 
 “Amortization Date” is July 1, 2027. 

“Annual Projections” is defined in Section 6.2(a). 

“Approved Fund” is any (i) investment company, fund, trust, securitization vehicle or conduit that is (or will be) engaged in making,
purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of business or (ii) any Person (other than a natural person) which temporarily warehouses loans for any Lender or any entity
described in the preceding clause (i) and that, with respect to each of the preceding clauses (i) and (ii), is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) a Person (other than a natural
person) or an Affiliate of a Person (other than a natural person) that administers or manages a lender. 
 “Anti Terrorism Laws” are any
laws relating to terrorism or money laundering, including without limitation Executive Order No. 13224 (effective September 24, 2001), the USA PATRIOT Act, the laws comprising or implementing the Bank Secrecy Act, and the laws administered
by OFAC. 
 “Basic Rate” is with respect to each Term Loan, the floating per annum rate of interest (based on a year of three hundred sixty
five (365) days) equal to the sum of (a) the greater of (i) Prime Rate, subject to Section 2.3(f), or (ii) Three and fifty hundredths percent (3.50%), and (b) Three and Seventy Five Hundredths percent (3.75%). 

“Blocked Person” is any Person: (a) listed in the annex to, or is otherwise subject to the provisions of, Executive Order
No. 13224, (b) a Person majority owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (c) a Person with which any Lender
is prohibited from dealing or otherwise engaging in any transaction by any Anti Terrorism Law, (d) a Person that commits, threatens or conspires to commit or supports “terrorism” such that they are listed in Executive Order
No. 13224, or (e) a Person that is named a “specially designated national” or “blocked person” on the most current List of Specially Designated Nationals and Blocked Persons published published by OFAC. 

“Borrower” is defined in the preamble hereof. 

“Borrower’s Books” are Borrower’s or any of its Subsidiaries’ books and records including ledgers, federal, and state tax
returns, records regarding Borrower’s or its Subsidiaries’ assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. 

“Business Day” is any day that is not a Saturday, Sunday or a day on which Collateral Agent is closed. 

“Cash Burn” is the cash used by Borrower in its operations and capital expenditures. 

“Cash Equivalents” are (a) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any
State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either Standard &
Poor’s Ratings Group or Moody’s Investors Service, Inc., and (c) certificates of deposit maturing no more than one (1) year after issue provided that the account in which any such certificate of deposit is maintained is subject
to a Control Agreement in favor of Collateral Agent. 

  
 27 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 “Claims” are defined in Section 12.2. 

“Code” is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the State of New York; provided, that,
to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code, the definition of such term contained in Article or Division 9 shall govern;
provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to, Collateral Agent’s Lien on any Collateral is governed by the Uniform
Commercial Code in effect in a jurisdiction other than the State of New York, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the provisions thereof
relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions. 
 “Collateral”
is any and all properties, rights and assets of Borrower described on Exhibit A. 
 “Collateral Account” is any Deposit Account,
Securities Account, or Commodity Account, or any other bank account maintained by Borrower or any Subsidiary at any time. 
 “Collateral
Agent” is defined in the preamble hereof. 
 “Commitment Percentage” is set forth in Schedule 1.1, as amended from time to
time. 
 “Commodity Account” is any “commodity account” as defined in the Code with such additions to such term as may hereafter
be made under the Code. 
 “Communication” is defined in Section 10. 

“Compliance Certificate” is that certain certificate in substantially the form attached hereto as Exhibit C. 

“Contingent Obligation” is, for any Person, any direct or indirect liability, contingent or not, of that Person for (a) any
indebtedness, lease, dividend, letter of credit or other obligation of another Person such as an obligation directly or indirectly guaranteed, endorsed, co made, discounted or sold with recourse by that Person, or for which that Person is directly
or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity swap agreement, interest rate cap or collar agreement, or other
agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent Obligation” does not include endorsements in the ordinary course of business. The
amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably anticipated liability for it determined by the Person in good
faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement. 
 “Control
Agreement” is any control agreement entered into among the depository institution at which Borrower or any of its Subsidiaries maintains a Deposit Account or the securities intermediary or commodity intermediary at which Borrower or any of
its Subsidiaries maintains a Securities Account or a Commodity Account, Borrower and such Subsidiary, and Collateral Agent pursuant to which Collateral Agent, for the benefit of the Lenders, obtains “control” (within the meaning of the
Code) over such Deposit Account, Securities Account, or Commodity Account. 
 “Copyrights” are any and all copyright rights, copyright
applications, copyright registrations and like protections in each work of authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret. 

“Deposit Account” is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made. 

“Disbursement Letter” is that certain form attached hereto as EXHIBIT B-2. 

  
 28 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 “DOJ” means the U.S. Department of Justice or any successor thereto or any other comparable
Governmental Authority. 
 “Dollars” “dollars” and “$” each mean lawful money of the United States. 

“Equipment” is all “equipment” as defined in the Code with such additions to such term as may hereafter be made, and includes
without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 

“ERISA” is the Employee Retirement Income Security Act of 1974, as amended, and its regulations. 

“Excluded Accounts” is defined in Section 6.6. 

“Exigent Circumstance” means any event or circumstance that, in the reasonable judgment of Collateral Agent, imminently threatens the ability
of Collateral Agent to realize upon all or any material portion of the Collateral, such as, without limitation, fraudulent removal, concealment, or abscondment thereof, destruction or material waste thereof, or failure of Borrower or any of its
Subsidiaries after reasonable demand to maintain or reinstate adequate casualty insurance coverage, or which, in the judgment of Collateral Agent, could reasonably be expected to result in a material diminution in value of the Collateral. 

“Existing Indebtedness” is the indebtedness of Borrower to Oxford Finance LLC owing pursuant to that certain Loan and Security Agreement,
dated December 30, 2016, entered into by and between Oxford Finance LLC and Borrower as amended, restated, supplemented or otherwise modified prior to the Effective Date. 

“FDA” means the U.S. Food and Drug Administration or any successor thereto or any other comparable Governmental Authority. 

“Final Fee” is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest or any
other fee payable hereunder) due on the earliest to occur of (a) the Maturity Date, or (b) the acceleration of any Term Loan, or (c) the prepayment of the Term Loan pursuant to Section 2.2(c) or (d), in each case equal to Final
Fee Percentage multiplied by the aggregate amount of the Term Loans funded, payable to Lenders in accordance with their respective Pro Rata Shares. 

“Final Fee Percentage” is six and fifty-hundredths percent (6.50%). 

“First Testing Quarter” is the quarter ending June 30, 2025. 

“Foreign Subsidiary” is a Subsidiary that is not an entity organized under the laws of the United States or any state thereof. 

“Funding Date” is any date on which the Term Loan is made to or on account of Borrower which shall be a Business Day. 

“GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the
American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant segment of the accounting
profession in the United States, which are applicable to the circumstances as of the date of determination. 
 “General Intangibles” are
all “general intangibles” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all copyright rights, copyright applications, copyright registrations
and like protections in each work of authorship and derivative work, whether published or unpublished, any patents, trademarks, service marks and, to the extent permitted under applicable law, any applications therefor, whether registered or not,
any trade secret rights, including any rights to unpatented inventions, payment intangibles, royalties, contract rights, goodwill, franchise agreements, purchase orders, 

  
 29 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
customer lists, route lists, telephone numbers, domain names, claims, income and other tax refunds, security and other deposits, options to purchase or sell real or personal property, rights in
all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation key man, property damage, and business interruption insurance), payments of insurance and rights to payment of
any kind. 
 “Governmental Approval” is any consent, authorization, approval, order, license, franchise, permit, certificate,
accreditation, Registration, filing, clearance, or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

“Governmental Authority” is any nation or government, any state or other political subdivision thereof, any agency, authority,
instrumentality, regulatory body (including, without limitation, the FDA and any state board of pharmacy or state pharmacy licensing authority), court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or
administrative functions of or pertaining to government, any securities exchange and any self-regulatory organization. 
 “Guarantor” is
any Person providing a Guaranty in favor of Collateral Agent for the benefit of the Lenders. 
 “Guaranty” is any guarantee of all or any
part of the Obligations, as the same may from time to time be amended, restated, modified or otherwise supplemented. 
 “Hazardous
Substance” any chemical, material or substance, exposure to which is prohibited, limited or regulated by any Governmental Authority or which may or could pose a hazard to the health and safety of the owners, occupants or any Persons in the
vicinity of any of its real property or to the indoor or outdoor environment. 
 “Indebtedness” is (a) indebtedness for borrowed money
or the deferred price of property or services, such as reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations,
and (d) Contingent Obligations. 
 “Indemnified Person” is defined in Section 12.2. 

“Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any other bankruptcy or
insolvency law, including assignments for the benefit of creditors, compositions or proceedings seeking reorganization, arrangement, or other relief. 

“Insolvent” means not Solvent. 

“Intellectual Property” means all of Borrower’s or any of its Subsidiaries’ right, title and interest in and to the following: 

(a) its Copyrights, Trademarks and Patents; 

(b) any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions, know how, operating
manuals; 
 (c) any and all source code; 

(d) any and all design rights which may be available to Borrower; 

(e) any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the right, but not the
obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and 

(f) all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents. 

  
 30 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 “Inventory” is all “inventory” as defined in the Code in effect on the date hereof
with such additions to such term as may hereafter be made under the Code, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without
limitation such inventory as is temporarily out of any Person’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 

“Investment” is any beneficial ownership interest in any Person (including stock, partnership interest or other securities), and any loan,
advance or capital contribution to any Person. 
 “IP Security Agreement” is that certain Intellectual Property Security Agreement executed
and delivered by Borrower to Collateral Agent and dated as of the Effective Date, as may be amended, restated, or otherwise modified or supplemented from time to time. 

“Key Person” is each of Borrower’s (i) Chief Executive Officer, who is David A. Cory as of the Effective Date and (ii) Chief
Financial Officer, who is Sri Ryali as of the Effective Date. 
 “Knowledge” means to the “best of” Borrower’s knowledge, or
with a similar qualification, knowledge or awareness means the actual knowledge, after reasonable investigation, of the Responsible Officers. For clarity, the foregoing definition is not meant to required or imply that any type of search relating to
freedom to operate has been conducted or that any opinion of counsel has been obtained. 
 “Lender” is any one of the Lenders. 

“Lenders” are the Persons identified on Schedule 1.1 hereto and each assignee that becomes a party to this Agreement pursuant to
Section 12.1. 
 “Lenders’ Expenses” are all audit fees and expenses, costs, and expenses (including reasonable and documented,
attorneys’ fees and expenses, as well as appraisal fees, fees incurred on account of lien searches, inspection fees, and filing fees) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including,
without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred by Collateral Agent and/or the Lenders in connection with the Loan Documents. 

“Lien” is a claim, mortgage, deed of trust, levy, charge, pledge, security interest, or other encumbrance of any kind, whether voluntarily
incurred or arising by operation of law or otherwise against any property. 
 “Loan Documents” are, collectively, this Agreement, each
Secured Promissory Note, the Perfection Certificate(s), each Control Agreement, each Compliance Certificate, each Loan Payment Request Form, each Disbursement Letter, any subordination agreements, any note, or notes or guaranties executed by
Borrower or any other Person, and any other present or future agreement entered into by Borrower, any Guarantor or any other Person for the benefit of the Lenders and Collateral Agent in connection with this Agreement; all as amended, restated, or
otherwise modified or supplemented from time to time. 
 “Loan Parties” are, collectively, each Borrower and each Guarantor, and
“Loan Party” means any of the Loan Parties, individually. 
 “Loan Payment Request Form” is that certain form attached
hereto as EXHIBIT B-1. 
 “Management Plan” is Borrower’s Board approved projected
revenue prepared and delivered to Collateral Agent by Borrower in accordance with Section 6.12(a) of this Agreement and covering all applicable periods commencing on the third anniversary of the Effective Date through the Maturity Date, which
shall be provided to the Collateral Agent prior to the third anniversary of the Effective Date. 
 “Material Adverse Change” is (a) a
material adverse change in the business, operations or condition (financial or otherwise) of Borrower or any Subsidiary, when taken as a whole; (b) a material impairment of the prospect of repayment of any portion of the Obligations, or
(c) a material adverse effect on the Collateral. 

  
 31 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 “Material Agreement” is any license, agreement or other contractual arrangement with a
Person or Governmental Authority whereby Borrower or any of its Subsidiaries is reasonably likely to be required to transfer, either in-kind or in cash, prior to the Maturity Date, assets or property valued
(book or market) at more than Four Million Dollars ($4,000,000.00) in the aggregate or any license, agreement or other contractual arrangement conveying exclusive rights in or to any Intellectual Property material and necessary to make, use or sell
any Inventory, products or services of Borrower or any Subsidiary. For clarity, a Permitted Third-Party Agreement shall not constitute a Material Agreement. 

“Maturity Date” is August 31, 2027. 

“Obligations” are all of Borrower’s obligations to pay when due any debts, principal, interest, Lenders’ Expenses, the Prepayment
Fee, the Final Fee, and other amounts Borrower owes the Lenders now or later, in connection with, related to, following, or arising from, out of or under, this Agreement or, the other Loan Documents, or otherwise, and including interest accruing
after Insolvency Proceedings begin (whether or not allowed) and debts, liabilities, or obligations of Borrower assigned to the Lenders and/or Collateral Agent, and the performance of Borrower’s duties under the Loan Documents. 

“OFAC” is the U.S. Department of the Treasury’s Office of Foreign Assets Control. 

“OFAC Lists” are, collectively, the Specially Designated Nationals and Blocked Persons List and the Consolidated List, each maintained by
OFAC including the persons added to those lists pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001). 
 “Operating
Documents” are, for any Person, such Person’s formation documents, as certified by the Secretary of State (or equivalent agency) of such Person’s jurisdiction of organization on a date that is no earlier than thirty (30) days
prior to the Effective Date, and, (a) if such Person is a corporation, its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such
Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing with all current amendments or modifications thereto. 

“Patents” means all patents, patent applications and like protections including without limitation improvements, divisions, continuations,
renewals, reissues, re-examination certificates, utility models, extensions and continuations-in-part of the same. 

“Payment Date” is the first (1st) calendar day of each calendar month, commencing on July 1, 2022. 

“Permitted Acquisition” means an acquisition by Borrower of all or substantially all of the assets of, all of the ownership interests in, or
a business line or unit or division of another Person and shall include any foreign corporations in the acceptable jurisdictions listed below in this definition; provided that (a) no Event of Default or event that with the passage of time would
result in an Event of Default shall exist immediately before or immediately after the consummation of such acquisition, (b) such acquired Person or assets shall be in the same line of business as is conducted by Borrower as of the Effective
Date (or a line of business reasonably related thereto), (c) such acquisition shall not cause the focus or locations of Borrower’s and its Subsidiaries’ operations (when taken as a whole) to be located outside of the United States,
(d) such acquisition shall not constitute a hostile acquisition, (e) any Person acquired as a result of such acquisition shall, if requested by Collateral Agent become a secured Guarantor or
co-Borrower, (f) in connection with such acquisition, neither Borrower nor any of its Subsidiaries (including for this purpose, the target of the acquisition) shall acquire or be subject to any
Indebtedness or Liens that are not otherwise permitted hereunder, (g) all of the consideration paid in connection with such acquisition shall be in the form of stock of Borrower, except that Borrower shall be permitted to pay an amount not to
exceed Two Hundred Fifty Thousand Dollars ($250,000.00) in the aggregate in cash for all Permitted Acquisitions in any given fiscal year, (h) Borrower has notified the Lenders at least ten (10) Business Days in advance of entering into
such transaction, which notice shall include a reasonably detailed description of such transaction and copies of pertinent documents relating to the transaction, (i) such transaction shall only involve assets and entities located in the United
States, Canada and the United Kingdom, (j) Collateral Agent and the Lenders have received a certificate from a Responsible Officer together with Board approved projections certifying and setting forth in reasonable detail that Borrower has
enough cash on hand to pay its projected expenses and all debt service when due for a period of 

  
 32 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
twelve (12) months after the consummation of such transaction (after giving effect to such transaction), (k) all transactions related to such acquisition shall be consummated in all material
respects in accordance with applicable law; (l) Borrower shall provide to the Lenders as soon as available but in any event not later than five (5) Business Days after the execution thereof, a copy of the executed purchase agreement or
similar agreement with respect to any such acquisition; (m) Borrower shall be in compliance with the covenants set forth in Section 6.12(b) and 6.13 on a pro forma basis after giving effect to such Permitted Acquisition; and (n) if
such acquisition will result in an incremental Cash Burn for Borrower of greater than Five Million Dollars ($5,000,000.00) per annum, Borrower shall deliver to Collateral Agent at least ten (10) Business Days in advance of entering into such
transaction, a financial plan of how Borrower will finance such incremental Cash Burn otherwise in compliance with the terms of this Agreement. 

Notwithstanding anything to the contrary contained herein, in order for any acquisition of Shares or assets of another Person to constitute a Permitted
Acquisition, Borrower must comply with all of the following: (a) Borrower shall have delivered to Collateral Agent, in form and substance reasonably satisfactory to the Collateral Agent and Lenders and sufficiently in advance (and in any case
no later than ten (10) Business Days prior to the Permitted Acquisition), such other financial information, financial analysis, documentation or other information relating to such Permitted Acquisition as Collateral Agent may request and the
pro forma certifications required by clause (b) below; (b) prior to the date of the Permitted Acquisition, the Collateral Agent and Lenders shall have received, in form and substance reasonably satisfactory to the Collateral Agent and Lenders,
a certificate of the chief financial officer of Borrower certifying compliance with the requirements contained in this definition of “Permitted Acquisition” and with the other terms of the Loan Documents (before and after giving effect to
such Permitted Acquisition); and (c) Borrower shall provide to the Collateral Agent and Lenders as soon as available but in any event not later than the execution thereof, a copy of the executed purchase agreement or similar agreement with
respect to the Permitted Acquisition. 
 “Permitted Indebtedness” is: 

(a) Borrower’s Indebtedness to the Lenders and Collateral Agent under this Agreement and the other Loan Documents; 

(b) Indebtedness existing on the Effective Date and disclosed on the Perfection Certificate(s) and any Permitted Refinancing thereof; 

(c) Subordinated Debt; 
 (d)
unsecured Indebtedness to trade creditors and Indebtedness in connection with credit cards incurred in the ordinary course of business; 

(e) Indebtedness consisting of capitalized lease obligations and purchase money Indebtedness, in each case incurred by Borrower or any of its
Subsidiaries to finance the acquisition, repair, improvement or construction of fixed or capital assets of such Person, provided that (i) the aggregate outstanding principal amount of all such Indebtedness does not exceed Five Hundred Thousand
Dollars ($500,000.00) at any time and (ii) the principal amount of such Indebtedness does not exceed the lower of the cost or fair market value of the property so acquired or built or of such repairs or improvements financed with such
Indebtedness (each measured at the time of such acquisition, repair, improvement or construction is made); 
 (f) Indebtedness incurred as a
result of endorsing negotiable instruments received in the ordinary course of Borrower’s business; 
 (g) extensions, refinancings,
modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (e) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose materially more burdensome
terms upon Borrower, or its Subsidiary, as the case may be. 

  
 33 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (h) (i) Indebtedness between or among Loan Parties and (ii) Indebtedness between or
among Subsidiaries that are not Loan Parties; 
 (i) Indebtedness owed by a Subsidiary that is not a Loan Party to any Loan Party, together
with any amounts under the clause (i) in the definition of “Permitted Investments”, in an aggregate principal amount not to exceed Two Million Dollars ($2,000,000) in any fiscal year; 

(j) Other unsecured Indebtedness not to exceed an aggregate principal amount of Two Hundred Fifty Thousand Dollars ($250,000.00) at any time
outstanding; and 
 (k) Permitted Royalty Transaction. 

“Permitted Investments” are: 

(a) Investments disclosed on the Perfection Certificate(s) and existing on the Effective Date; 

(b) Investments consisting of cash and Cash Equivalents, and (ii) any other Investments permitted by Borrower’s investment policy,
as amended from time to time, provided that such investment policy (and any such amendment thereto) has been approved in writing by Collateral Agent; 

(c) Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary
course of Borrower; 
 (d) Investments consisting of Deposit Accounts in which Collateral Agent has a perfected security interest; 

(e) Investments in connection with Transfers permitted by Section 7.1; 

(f) Investments consisting of (i) travel advances and employee relocation loans and other employee loans and advances in the ordinary
course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements approved by Borrower’s board of
directors, not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00) in the aggregate for (i) and (ii) in any fiscal year; 
 (g)
Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary
course of business; 
 (h) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and
suppliers who are not Affiliates, in the ordinary course of business; provided that this paragraph (h) shall not apply to Investments of Borrower in any Subsidiary; 

(i) Investments in any Subsidiary that is not a Loan Party, together with any amounts under the clause (i) in the definition of
“Permitted Indebtedness”, in an aggregate amount not to exceed One Million Dollars ($2,000,000) in any fiscal year; 
 (j) non-cash Investments in joint ventures or strategic alliances in the ordinary course of Borrower’s business consisting of the non exclusive licensing of technology, the development of technology or the
providing of technical support; and 
 (k) investments (i) between Loan Parties and (ii) investments between non-Loan Party Subsidiaries. 

  
 34 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 “Permitted Licenses” are (a) licenses of over-the-counter software that is commercially available to the public, (b) non-exclusive and exclusive licenses for the use of the Intellectual Property of
Borrower or any of its Subsidiaries entered into in the ordinary course of business, (c) any license that constitutes an arms-length transaction, the terms of which, on their face, do not provide for a sale or assignment of any Intellectual
Property and do not restrict the ability of Borrower or any of its Subsidiaries, as applicable, to pledge, grant a security interest in or lien on, or assign or otherwise transfer any Intellectual Property, (d) in the case of any exclusive
license, (i) Borrower delivers ten (10) days’ prior written notice and a brief summary of the terms of the proposed license to Collateral Agent and the Lenders and delivers to Collateral Agent and the Lenders copies of the final
executed licensing documents in connection with the exclusive license promptly upon consummation thereof, (ii) any such license could not result in a legal transfer of title of the licensed property but may be exclusive in respects other than
territory and may be exclusive as to territory only as to discrete geographical areas outside of the United States, (iii) all upfront payments, royalties, milestone payments or other proceeds arising from the licensing agreement that are
payable to Borrower or any of its Subsidiaries are paid to a Deposit Account that is governed by a Control Agreement and (iv) no Event of Default has occurred or is continuing at the time of entering into such license; provided that,
notwithstanding anything to the contrary herein, Permitted Third Party Agreements shall be Permitted Licenses. 
 “Permitted Liens” are:

 (a) Liens existing on the Effective Date and disclosed on the Perfection Certificates or arising under this Agreement and the other Loan
Documents; 
 (b) Liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or
(ii) being contested in good faith and for which Borrower maintains adequate reserves on its Books, provided that no notice of any such Lien has been filed or recorded under the Internal Revenue Code of 1986, as amended, and the Treasury
Regulations adopted thereunder; 
 (c) liens securing Indebtedness permitted under clause (e) of the definition of “Permitted
Indebtedness,” provided that (i) such liens exist prior to the acquisition of, or attach substantially simultaneous with, or within twenty (20) days after the, acquisition, lease, repair, improvement or construction of, such property
financed or leased by such Indebtedness and (ii) such liens do not extend to any property of Borrower other than the property (and proceeds thereof) acquired, leased or built, or the improvements or repairs, financed by such Indebtedness; 

(d) Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in nature arising in the ordinary course of business so
long as such Liens attach only to Inventory, securing liabilities in the aggregate amount not to exceed Fifty Thousand Dollars ($50,000.00), and which are not delinquent or remain payable without penalty or which are being contested in good faith
and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto; 

(e) Liens to secure payment of workers’ compensation, employment insurance, old age pensions, social security and other like obligations
incurred in the ordinary course of business (other than Liens imposed by ERISA); 
 (f) Liens incurred in the extension, renewal or
refinancing of the indebtedness secured by Liens described in (a) through (c), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not
increase; 
 (g) leases or subleases of real property granted in the ordinary course of Borrower’s business (or, if referring to
another Person, in the ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or sublicenses of personal property (other than Intellectual Property) granted in the
ordinary course of Borrower’s business (or, if referring to another Person, in the ordinary course of such Person’s business), if the leases, subleases, licenses and sublicenses do not prohibit granting Collateral Agent or any Lender a
security interest therein; 
 (h) banker’s liens, rights of setoff and Liens in favor of financial institutions incurred in the
ordinary course of business arising in connection with Borrower’s deposit accounts or securities accounts held at such institutions solely to secure payment of fees and similar costs and expenses and provided such accounts are maintained in
compliance with Section 6.6 hereof; 

  
 35 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (i) Liens arising from judgments, decrees or attachments in circumstances not constituting an
Event of Default under Section 8.4 or 8.7; 
 (j) Liens securing Permitted Indebtedness described in clause (e) of the definition
of Permitted Indebtedness so long as such Liens are restricted to the to the specific assets of Borrower with respect to which such Permitted Indebtedness was incurred; 

(k) Permitted Licenses; and 

(l) (i) with respect to any Permitted Royalty Transaction that is structured as a “true sale”, precautionary Liens on the applicable
percentage of net sales of the applicable product or (ii) with respect to any Permitted Royalty Transaction that is not structured as a “true sale”, Liens on (x) the applicable percentage of net sales of the applicable Product
that is the subject of such Permitted Royalty Transaction or (y) any other asset of the applicable Loan Party to such Permitted Royalty Transaction relating to the applicable product that is the subject of such Permitted Royalty Transaction so
long as such Liens are subordinated to the Liens securing the Obligations pursuant to an intercreditor agreement on terms and conditions reasonably acceptable to the Required Lenders. 

“Permitted Refinancing” is, with respect to any Person, any modification, refinancing, refunding, renewal or extension of any Indebtedness of
such Person; provided that (a) the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed or extended
except by an amount equal to unpaid accrued interest and premium thereon plus other reasonable amounts paid, and fees and expenses reasonably incurred, in connection with such modification, refinancing, refunding, renewal or extension and by an
amount equal to any existing commitments unutilized thereunder, (b) such modification, refinancing, refunding, renewal or extension has a final maturity date equal to or later than the final maturity date of, and has a weighted average life to
maturity equal to or greater than the weighted average life to maturity of, the Term Loans and (c) if the Indebtedness being refinanced or replaced is secured, such Indebtedness is not secured by any assets other than the collateral securing
the Indebtedness being refinanced or replaced. 
 “Permitted Royalty Transaction” is royalty financing or similar transaction (including
any royalty sale or any synthetic royalty financing) that does not exceed ten percent (10%) of the net sales in respect of any product of the applicable Loan Party; provided, that at least one product of any Loan Party that has received the FDA
approval for sales and marketing is not encumbered by any such Permitted Royalty Financing transaction then in effect. Borrower is required to present a financial plan to Collateral Agent prior to consummation of a Permitted Royalty Transaction.

 “Permitted Third Party Agreements” are (x) any nonexclusive licenses granted in the ordinary course of business and not for
purposes of commercializing any Intellectual Property (including for purposes of joint development, manufacturing, distribution, partnership or similar purposes, including any licensing transactions with contract research organizations or contract
manufacturing organizations) and (y) any licenses, sublicenses and similar and customary arrangements for the use of Intellectual Property solely in connection with contract manufacturing, contract research, distribution, supplier and other
similar arrangements that are entered into in the ordinary course of business and not in connection with any monetization or revenue-specific purpose and for which no Borrower or its Affiliates will receive any consideration (whether in the form of
cash, equity or otherwise). 
 “Person” is any individual, sole proprietorship, partnership, limited liability company, joint venture,
company, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 

“Prime Rate” is the Prime Rate published in The Wall Street Journal (or any successor publication if The Wall Street Journal is no longer
published) in the “Money Rates” section (or such successor section). 

  
 36 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 “Prepayment Fee” is, with respect to any Term Loan subject to prepayment prior to the
Maturity Date, whether by mandatory or voluntary prepayment, acceleration or otherwise, an additional fee payable to the Lenders in amount equal to: 

(i) for a prepayment made on or after the Effective Date and through and including the date which is the first anniversary of the Effective
Date, three percent (3.00%) of the principal amount of the Term Loans prepaid; provided, however, a prepayment may only be made on or prior to the first anniversary of the Effective Date pursuant to Section 2.2(c) (it being agreed and
understood that no voluntary prepayment may be during such period); 
 (ii) for a prepayment made after the date which is the first
anniversary of the Effective Date and through and including the date which is the second anniversary of the Effective Date, two percent (2.00%) of the principal amount of the Term Loans prepaid; 

(iii) for a prepayment made after the date which is the second anniversary of the Effective Date through and including the date which is the
third anniversary of the Effective Date, one percent (1.00%) of the principal amount of the Term Loan prepaid; and 
 (iv) for a prepayment
made after the date which is the third anniversary of the Effective Date and prior to the Maturity Date, zero percent (0.00%) of the principal amount of the Term Loan prepaid. 

“Property” means any interest in any kind of property or asset, whether real, personal or mixed, and whether tangible or intangible. 

“Pro Rata Share” is, as of any date of determination, with respect to each Lender, a percentage (expressed as a decimal, rounded to the ninth
decimal place) determined by dividing the outstanding principal amount of the Term Loan held by such Lender by the aggregate outstanding principal amount of the Term Loan. 

“Registered Organization” is any “registered organization” as defined in the Code with such additions to such term as may hereafter
be made under the Code. 
 “Registration” means any registration, authorization, approval, license, permit, clearance, certificate, and
exemption issued or allowed by the FDA or state pharmacy licensing authorities (including, without limitation, new drug applications, abbreviated new drug applications, biologics license applications, investigational new drug applications, over-the-counter drug monograph, device pre-market approval applications, device pre-market
notifications, investigational device exemptions, product recertifications, manufacturing approvals, registrations and authorizations, CE Marks, pricing and reimbursement approvals, labeling approvals or their foreign equivalent, controlled
substance registrations, and wholesale distributor permits). 
 “Related Persons” means, with respect to any Person, each Affiliate of such
Person and each director, officer, employee, agent, trustee, representative, attorney, accountant and each insurance, environmental, legal, financial and other advisor and other consultants and agents of or to such Person or any of its Affiliates.

 “Required Lenders” means (i) for so long as all of the Persons that are Lenders on the Effective Date (each an “Original
Lender”) have not assigned or transferred any of their interests in the Term Loan, Lenders holding one hundred percent (100%) of the aggregate outstanding principal balance of the Term Loan, or (ii) at any time from and after any
Original Lender has assigned or transferred any interest in its Term Loan, Lenders holding at least fifty one percent (51%) of the aggregate outstanding principal balance of the Term Loan. 

“Requirement of Law” is as to any Person, the organizational or governing documents of such Person, and any law (statutory or common),
treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

  
 37 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 “Responsible Officer” is any of the President, Chief Executive Officer or Chief Financial
Officer of Borrower acting alone. 
 “Secured Promissory Note” is defined in Section 2.6. 

“Secured Promissory Note Record” is a record maintained by each Lender with respect to the outstanding Obligations owed by Borrower to Lender
and credits made thereto. 
 “Securities Account” is any “securities account” as defined in the Code with such additions to such
term as may hereafter be made under the Code. 
 “Solvent” is, with respect to any Person: the fair salable value of such Person’s
consolidated assets (including goodwill minus disposition costs) exceeds the fair value of such Person’s liabilities; such Person is not left with unreasonably small capital after the transactions in this Agreement; and such Person is able to
pay its debts (including trade debts) as they mature in the ordinary course (without taking into account any forbearance and extensions related thereto). 

“Stock Purchase Agreement” is that certain stock purchase agreement, dated as of the Effective Date, by and between the Parent and Collateral
Agent. 
 “Subordinated Debt” is indebtedness incurred by Borrower or any of its Subsidiaries subordinated to all Indebtedness of Borrower
and/or its Subsidiaries to the Lenders (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Collateral Agent and the Lenders entered into between Collateral Agent, Borrower, and/or any of its
Subsidiaries, and the other creditor), on terms acceptable to Collateral Agent and the Lenders. 
 “Subsidiary” is, with respect to any
Person, any Person of which more than fifty percent (50%) of the voting stock or other equity interests (in the case of Persons other than corporations) is owned or controlled, directly or indirectly, by such Person or through one or more
intermediaries. Unless otherwise specified, references herein to a Subsidiary means a Subsidiary of Borrower. 
 “Term Loan Commitment” is,
for any Lender, the obligation of such Lender to make the Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders. 

“Term B Draw Period” is the period commencing on the later of (i) the first date on which Borrower achieves the Term B Milestone and
(ii) November 1, 2022 and ending on the earlier of (i) June 30, 2024 and (ii) the occurrence of an Event of Default (unless such Event of Default is waived by Collateral Agent and Lenders for the purposes of the continuation
of the Term B Draw Period). 
 “Term B Milestone” [***] 

“Term C Draw Period” is the period commencing on the later of (i) the first date on which Borrower achieves the Term C Milestone and
(ii) November 1, 2022 and ending on the earlier of (i) June 30, 2024 and (ii) the occurrence of an Event of Default (unless such Event of Default is waived by Collateral Agent and Lenders for the purposes of the continuation
of the Term C Draw Period). 
 “Term C Milestone” [***] 

“Trademarks” means any trademark and servicemark rights, whether registered or not, applications to register and registrations of the same
and like protections, and the entire goodwill of the business of Borrower and each of its Subsidiaries connected with and symbolized by such trademarks. 

“TTM Revenue” means trailing twelve (12) months aggregate consolidated revenue of Borrower and its Subsidiaries, determined in
accordance with GAAP, as of any date of determination. 

  
 38 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 “UCC” means Uniform Commercial Code as in effect from time to time in the State of New York;
provided, if by reason of mandatory provisions of Law, the perfection, the effect of perfection or non-perfection or the priority of the security interests of the Collateral Agent in any Collateral is governed
by the Uniform Commercial Code as in effect in a jurisdiction other than New York, the term “UCC” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such
perfection, effect of perfection or non-perfection or priority. 
 [Balance of Page
Intentionally Left Blank] 

  
 39 

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

			
	BORROWER:	 	
	
	EIGER BIOPHARMACEUTICALS, INC.

			
		
	By	 	/s/ David A. Cory
	Name: David A. Cory
	Title: President

  

			
	 EB PHARMA, LLC

		
	 By
	 	 /s/ David A. Cory

	 Name: David A. Cory

	 Title: President

  

			
	EBPI MERGER, INC.
		
	By	 	/s/ David A. Cory
	Name: David A. Cory
	Title: President

  

			
	COLLATERAL AGENT AND LENDER:	  	
		
	INNOVATUS LIFE SCIENCES LENDING FUND I, LP	  	
		
	By: Innovatus Life Sciences GP, LP	  	
	Its: General Partner	  	

			
		
	 By
	 	 /s/ Andrew Hobson

	 Name: Andrew Hobson

	 Title: Authorized Signatory

 [Signature Page to Loan and Security Agreement] 

 SCHEDULE 1.1 

Lenders and Commitments 
  

									
	Term A Loan	  

			
	 Lender
	  	Term Loan A Commitment	 	  	Commitment Percentage	 
	 INNOVATUS LIFE SCIENCES LENDING FUND I, LP
	  	$	40,000,000	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	40,000,000	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

  

									
	Term B Loan	  

			
	 Lender
	  	Term Loan B Commitment	 	  	Commitment Percentage	 
	 INNOVATUS LIFE SCIENCES LENDING FUND I, LP
	  	$	17,500,000	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	17,500,000	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

									
	Term C Loan	  

			
	 Lender
	  	Term Loan C Commitment	 	  	Commitment Percentage	 
	 INNOVATUS LIFE SCIENCES LENDING FUND I, LP
	  	$	17,500,000	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	17,500,000	 	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

 EXHIBIT A 

Description of Collateral 
 The
Collateral consists of all of Borrower’s right, title and interest in and to the following property: 
 All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, General Intangibles (except as noted below), commercial tort claims,
documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts and other Collateral Accounts, all certificates of deposit, fixtures, letters of credit rights (whether or not the letter
of credit is evidenced by a writing), securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and 

All Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions
for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or all of the foregoing. 

Notwithstanding the foregoing, the Collateral does not include any of the following assets (collectively, the “Excluded
Assets”): 
  

	(i)	 any Excluded Accounts; 

 

	(ii)	 more than 65% of the total combined voting power of all classes of stock entitled to vote the shares of capital
stock (the “Shares”) of any Foreign Subsidiary, if Borrower demonstrates to Collateral Agent’s reasonable satisfaction that a pledge of more than sixty five percent (65%) of the Shares of such Subsidiary creates a present and
existing adverse tax consequence to Borrower under the U.S. Internal Revenue Code; 

  

	(iii)	 any leases, licenses, permits or agreements to the extent that, and so long as, a grant of a security interest
therein, or in the property or assets that secure the underlying obligations with respect thereto (a) is prohibited by applicable law other than to the extent such prohibition is rendered ineffective under the UCC or other applicable law
notwithstanding such prohibition or (b) would violate or invalidate such lease, license, permit or agreement with respect to any Intellectual Property, or create a right of termination in favor of, or require the consent of, any other party
thereto, other than the proceeds thereof, and only for so long as such limitation on such pledge or security interest is subject to the limitations described above; and 

 

	(iv)	 any motor vehicles and other assets subject to certificates of title and letter of credit rights, to the extent
a Lien therein cannot be perfected by the filing of a UCC financing statement. 

 EXHIBIT B-1 

Loan Payment Request Form 
  

					
	Fax To:	  		  	Date: _____________________

  

LOAN PAYMENT: 

EIGER BIOPHARMACEUTICALS, INC. 

EB PHARMA, LLC, EBPI MERGER, INC. 
  

					
	 From Account #______________________________
	  		 	To Account #______________________________________________
	 (Deposit Account #)
	  		 	 (Loan Account #)

			
	 Principal $__________________________________
	  		 	and/or Interest $____________________________________________
			
	 Authorized Signature: _________________________
	  		 	 Phone Number: _______________________________

	 Print Name/Title: ____________________________
	  		 	

 
  

LOAN ADVANCE: 

Complete Outgoing Wire Request section below if all or a portion of the funds from this loan advance are for an outgoing wire. 

 

					
	 From Account #_____________________________
	  		 	To Account #______________________________________________
	 (Loan Account #)
	  		 	 (Deposit Account #)

			
	 Amount of Advance $_________________________
	  		 	

 All Borrower’s representations and warranties in the Loan and Security Agreement are
true, correct and complete in all material respects on the date of the request for an advance; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by
materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date: 

 

					
	 Authorized Signature: _________________________
	  		  	 Phone Number: ______________________________________

	 Print Name/Title: ____________________________
	  		  	

 
  

OUTGOING WIRE REQUEST: 

Complete only if all or a portion of funds from the loan advance above is to be wired. 

 

					
	 Beneficiary Name: ___________________________
	  		  	 Amount of Wire: $ ___________________________________

	 Beneficiary Bank: ____________________________
	  		  	 Account Number: ____________________________________

	 City and State: _____________________________
	  		  	

  

					
	 Beneficiary Bank Transit (ABA) #: ______________
	  		  	 Beneficiary Bank Code (Swift, Sort, Chip, etc.): __________________

		  		  	 (For International Wire Only)

	 Intermediary Bank: ___________________________
	  		  	 Transit (ABA) #:
___________________________________________

	
	 For Further Credit
to:_______________________________________________________________________________________________

	
	 Special Instruction:
_________________________________________________________________________________________________

 By signing below, I (we) acknowledge and agree that my (our) funds transfer request
shall be processed in accordance with and subject to the terms and conditions set forth in the agreements(s) covering funds transfer service(s), which agreements(s) were previously received and executed by me (us). 

 

					
	 Authorized Signature: __________________
	  		  	 2nd Signature (if required):
_________________________________________

	 Print Name/Title: _____________________
	  		  	 Print Name/Title: _________________________________________________

	 Telephone #:_______________________
	  		  	 Telephone #:_______________________________________]

 

 EXHIBIT B-2 

Form of Disbursement Letter 

[see attached] 

 DISBURSEMENT LETTER 

[DATE] 
 The undersigned, being the duly
elected and acting ________________________ of EIGER BIOPHARMACEUTICALS, INC., a Delaware corporation (“Borrower”), does hereby certify, on behalf of all Borrowers, to INNOVATUS LIFE SCIENCES LENDING FUND I, LP
(“Innovatus” and “Lender”), as collateral agent (the “Collateral Agent”) in connection with that certain Loan and Security Agreement dated as of June 1, 2022, by and among Borrower and other
borrowers party thereto, Collateral Agent and the Lenders from time to time party thereto (the “Loan Agreement”; with other capitalized terms used below having the meanings ascribed thereto in the Loan Agreement) that: 

1. The representations and warranties made by Borrower in Section 5 of the Loan Agreement and in the other Loan Documents are true and
correct in all material respects as of the date hereof (provided that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date). 

2. No event or condition has occurred and is continuing that would constitute an Event of Default under the Loan Agreement or any other Loan
Document. 
 3. Borrower is in compliance with the covenants and requirements contained in Sections 4, 6 and 7 of the Loan Agreement. 

4. All conditions referred to in Section 3 of the Loan Agreement to the making of the Loan to be made on or about the date hereof have
been satisfied or waived by Collateral Agent. 
 5. No Material Adverse Change has occurred. 

6. The undersigned is a Responsible Officer. 

[Balance of Page Intentionally Left Blank] 

 7. The proceeds of the Term A Loan shall be disbursed as follows: [***] 

8. The Term A Loan shall amortize in accordance with the Loan Interest Rate And Payment Of Principal schedule attached as Annex Y (as
amended or restated from time to time) to the Loan Agreement. 
 9. The aggregate net proceeds of the Term A Loan shall be transferred to
the Designated Deposit Account as follows: 
  

					
			
		 	Account Name:	  	EIGER BIOPHARMACEUTICALS, INC.
			
		 	Bank Name:	  	[***]
			
		 	Bank Address:	  	 [***]
 [***]

			
		 	Credit Account Number:	  	[***]
			
		 	Routing Number:	  	[***]

 [Balance of Page Intentionally Left Blank] 

 

	* 	 Legal fees and costs are through the Effective Date. Post-closing legal
fees and costs, payable after the Effective Date, to be invoiced and paid post-closing. 

 Dated as of the date first set forth above. 

BORROWER: 
  

			
	EIGER BIOPHARMACEUTICALS, INC., on behalf of all Borrowers

			
		
	By	 	 

			
	Name:	 	 

			
	Title:	 	 

 COLLATERAL AGENT AND LENDER: 

INNOVATUS LIFE SCIENCES LENDING FUND I, LP 
  

			
	 By: Innovatus Life Sciences GP, LP

Its: General Partner

		
	By	 	 

			
	Name:	 	 

			
	Title:	 	 

  
 [Signature Page to
Disbursement Letter] 

 EXHIBIT C 

Compliance Certificate 
  

			
	TO:	  	INNOVATUS LIFE SCIENCES LENDING FUND I, LP, as Collateral Agent and Lender 

		
	FROM:	  	EIGER BIOPHARMACEUTICALS, INC., on behalf of all Borrowers

 The undersigned authorized officer (“Officer”) of EIGER BIOPHARMACEUTICALS, INC.
(“Borrower”), hereby certifies on behalf of all Borrowers that in accordance with the terms and conditions of the Loan and Security Agreement dated as of June 1, 2022, by and among Borrower and other borrowers party thereto,
Collateral Agent, and the Lenders from time to time party thereto (the “Loan Agreement;” capitalized terms used but not otherwise defined herein shall have the meanings given them in the Loan Agreement), 

(a) Borrower is in complete compliance for the period ending _______________ with all required covenants except as noted below; 

(b) There are no Defaults or Events of Default that have occurred and are continuing, except as noted below; 

(c) Except as noted below, all representations and warranties of Borrower stated in the Loan Documents are true and correct in all material
respects on this date and for the period described in (a), above; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text
thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date. 

(d) Borrower, and each of Borrower’s Subsidiaries, has timely filed, or filed for extensions, all required tax returns and reports,
Borrower, and each of Borrower’s Subsidiaries, has timely paid all foreign, federal, state, and local taxes, assessments, deposits and contributions owed by Borrower, or Subsidiary, except as otherwise permitted pursuant to the terms of
Section 5.8 of the Loan Agreement; 
 (e) No Liens have been levied or claims made against Borrower or any of its Subsidiaries relating
to unpaid employee payroll or benefits of which Borrower has not previously provided written notification to Collateral Agent and the Lenders. 

Attached are the required documents, if any, supporting our certification(s). The Officer, on behalf of Borrower, further certifies that the
attached financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP) and are consistently applied from one period to the next except as explained in an accompanying letter or footnotes and except, in the case
of unaudited financial statements, for the absence of footnotes and subject to year-end audit adjustments as to the interim financial statements. 

Please indicate compliance status since the last Compliance Certificate by circling Yes, No, or N/A under “Complies” column. 

													
	 	  	 Reporting Covenant
	  	 Requirement
	  	 Actual
	  	 Complies

							
	 1)
	  	Financial statements	  	Quarterly within 45 days or within 10 days following the filing of Borrower’s 10-Q, if earlier	  		  	Yes	  	No	  	N/A
							
	 2)
	  	Annual (CPA Audited) statements	  	Within 90 days after FYE	  		  	Yes	  	No	  	N/A
							
	 3)
	  	Annual Financial Projections/Budget (prepared on a monthly basis)	  	Annually (within earlier 10 days of approval or 45 days of FYE), and when revised (no later than 10 days of approval)	  		  	Yes	  	No	  	N/A
							
	 4)
	  	8-K, 10-K and 10-Q Filings	  	If applicable, within 5 days of filing	  		  	Yes	  	No	  	N/A
							
	 5)
	  	Month-end Collateral Account statements	  	Monthly within 30 days	  		  	Yes	  	No	  	N/A
							
	 6)
	  	Compliance Certificate	  	Within 10 days following the filing of Borrower’s 10-Q	  		  	Yes	  	No	  	N/A
							
	 7)
	  	Total amount of Borrower’s cash and cash equivalents at the last day of the measurement period	  		  	$________	  	Yes	  	No	  	N/A
							
	 8)
	  	Total amount of Borrower’s Subsidiaries’ cash and cash equivalents at the last day of the measurement period	  		  	$________	  	Yes	  	No	  	N/A
							
	 19)
	  	Loan confirmation submitted to the fund administrator for Innovatus Life Sciences Lending Fund I, LP (see Exhibit C-2 to the Loan Agreement)	  	Quarterly within 45 days	  		  	Yes	  	No	  	N/A
							
	20)	  	IP Report	  	When require	  		  	Yes	  	No	  	N/A

 Negative Covenant Compliance 

 

									
	 	  	Negative Covenant	  	Complies
	1)	  	Dispositions (§ 7.1)	  	Yes	  	No	  	N/A
	2)	  	Changes in Business, Management, Ownership, or Business Locations (§ 7.2)	  	Yes	  	No	  	N/A
	3)	  	Mergers or Acquisitions (§ 7.3)	  	Yes	  	No	  	N/A
	4)	  	Indebtedness (§ 7.4)	  	Yes	  	No	  	N/A
	5)	  	Encumbrance (§ 7.5)	  	Yes	  	No	  	N/A
	6)	  	Maintenance of Collateral Accounts (§ 7.6)	  	Yes	  	No	  	N/A
	7)	  	Restricted Payments (§ 7.7)	  	Yes	  	No	  	N/A
	8)	  	Investments (§ 7.8)	  	Yes	  	No	  	N/A
	9)	  	Transactions with Affiliates (§ 7.9)	  	Yes	  	No	  	N/A
	10)	  	Subordinated Debt (§ 7.10)	  	Yes	  	No	  	N/A
	11)	  	Compliance (§ 7.11)	  	Yes	  	No	  	N/A
	12)	  	Compliance with Anti-Terrorism Laws (§ 7.12)	  	Yes	  	No	  	N/A

 Please attach supporting documentation and calculations for the below financial covenants. 

 

													
	 	  	Covenant	  	Requirement	  	Actual	  	Complies
	1)	  	Minimum TTM Net Revenue1	  	Set forth in Section 6.12	  	$______	  	Yes	  	No	  	N/A
	2)	  	Minimum Cash Balance	  	Set forth in Section 6.13	  	$______	  	Yes	  	No	  	N/A

 Deposit and Securities Accounts  

(Please list all accounts; attach separate sheet if additional space needed) 

 

													
	 	  	Institution Name	  	Account Number	  	New Account?	  	Account Control
Agreement in place?
	1)	  	 	  	 	  	Yes	  	No	  	Yes	  	No
	2)	  	 	  	 	  	Yes	  	No	  	Yes	  	No
	3)	  	 	  	 	  	Yes	  	No	  	Yes	  	No
	4)	  	 	  	 	  	Yes	  	No	  	Yes	  	No

  
  

	1 	 Beginning on the 3rd anniversary of the Effective date, N/A for all periods prior
to then or during a covenant relaxation period as set forth in section 6.12(b). 

 Other Matters 
  

							
	1)	  	Have there been any changes in any Key Person since the last Compliance Certificate?	  	Yes	  	No
				
	2)	  	Have there been any transfers/sales/disposals/retirement of Collateral prohibited by the Loan Agreement?	  	Yes	  	No
				
	3)	  	Have there been any new or pending claims or causes of action against Borrower that involve more than Five Hundred Thousand Dollars ($500,000.00)?	  	Yes	  	No
				
	4)	  	Have there been any amendments of or other changes to the capitalization table of Borrower and to the Operating Documents of Borrower or any of its Subsidiaries? If yes, provide copies of any such amendments or changes with this
Compliance Certificate.	  	Yes	  	No
				
	5)	  	Has Borrower provided the Collateral Agent with all notices required to be delivered under Sections 6.2(a) and 6.2(b) of the Loan Agreement?	  	Yes	  	No
				
	6)	  	Have there been any material updates to the contents of the Perfection Certificate last delivered? If yes, please explain.	  	Yes	  	No
				
	7)	  	Since the last Compliance Certificate, do you anticipate any impending product shortages or supply chain disruptions? If yes, please explain.	  	Yes	  	No
				
	8)	  	Are there major components from suppliers that are single sourced? If yes, please explain.	  	Yes	  	No
				
	10)	  	Have there been any changes to insurance policies providing coverage for business interruption since the last Compliance Certificate? If yes, please explain.	  	Yes	  	No
				
	11)	  	Has Borrower or any Subsidiary terminated a Material Agreement?	  	Yes	  	No

 Exceptions 

Please explain any exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions.” Attach separate sheet if
additional space needed.) 
  

			
	EIGER BIOPHARMACEUTICALS, INC., on behalf of all Borrowers

			
		
	By:	 	 
	Name:	 	 
	Title:	 	 
		
	Date:	 	 

  

											
		 		 	COLLATERAL AGENT USE ONLY
						
		 		 	Received by:	 	 	 	Date:	 	 
						
		 		 	Verified by:	 	 	 	Date:	 	 

													
							
	                             	 		 		 	Compliance Status:	 	Yes                                  No	 		 	

  
 [Signature Page to
Compliance Certificate] 

 Exhibit A 

Supporting documentation for Revenue Target 

  
 [Signature Page to
Compliance Certificate] 

 Exhibit C-2 

Loan Confirmation 
 In accordance with the
loan documents, Innovatus Life Sciences Lending Fund I, LP and Innovatus Life Sciences Offshore Fund I-A, LP (collectively, the “Funds”), managed by Innovatus Capital Partners, LLC, please complete
the information below on a quarterly basis and sign and date this confirmation. Please then send directly to the Funds administrator, HedgeServ Corporation., the following information related to the Funds’ total investment in EIGER
BIOPHARMACEUTICALS, INC., a Delaware corporation, EB Pharma, LLC, a Delaware limited liability company and EBPI Merger, Inc.: 
  

	 	1)	 Please provide the following information as it relates to the Funds (Include: Date, Loan Description,
Principal Outstanding): Please see table below 

  

									
	 Date – For the Quarter

Ended
	  	Loan
Description	 	  	Principal
Outstanding	 
	 Total
	  				  			

 Please sign, date, and email a copy of your response to HedgeServ at [***] and copy [***] no later than 30 days after quarter
end. 
 CONFIRMATION: 
  

					
	Signature:	  	 	  	
			
	Print Name:	  	 	  	
			
	Title:	  	 	  	
			
	Date:	  	 	  	
			
	Phone:	  	 	  	

 EXHIBIT D 

Form of Secured Promissory Note 

[see attached] 

 SECURED PROMISSORY NOTE 

(Term [A][B][C] Loan) 
  

			
	$____________________	 	Dated: [DATE]

 FOR VALUE RECEIVED, the undersigned, EIGER BIOPHARMACEUTICALS, INC., a Delaware corporation
(“Parent”), EB Pharma, LLC, a Delaware limited liability company (“EB Pharma”) and EBPI Merger, Inc., a Delaware corporation (“EBPI”), each with offices located at 2155 Park Blvd., Palo Alto, CA
94306 (Parent, EB Pharma and EBPI, individually and collectively, jointly and severally, “Borrower”) HEREBY PROMISES TO PAY to the order of INNOVATUS LIFE SCIENCES LENDING FUND I, LP (“Lender”) the principal amount
of [___________] MILLION DOLLARS ($______________) or such lesser amount as shall equal the outstanding principal balance of the Term [A][B][C] Loan made to Borrower by Lender, plus interest on the aggregate unpaid principal amount of such Term
[A][B][C] Loan, at the rates and in accordance with the terms of the Loan and Security Agreement dated [DATE] by and among Borrower, Lender, INNOVATUS LIFE SCIENCES LENDING FUND I, LP, as Collateral Agent, and the other Lenders from time to time
party thereto (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”). If not sooner paid, the entire principal amount and all accrued and unpaid interest hereunder shall be due and payable
on the Maturity Date as set forth in the Loan Agreement. Any capitalized term not otherwise defined herein shall have the meaning attributed to such term in the Loan Agreement. 

Principal, interest and all other amounts due with respect to the Term [A][B][C] Loan, are payable in lawful money of the United States of America to Lender
as set forth in the Loan Agreement and this Secured Promissory Note (this “Note”). The principal amount of this Note and the interest rate applicable thereto, and all payments made with respect thereto, shall be recorded by Lender
and, prior to any transfer hereof, endorsed on the grid attached hereto which is part of this Note. 
 The Loan Agreement, among other things,
(a) provides for the making of a secured Term [A][B][C] Loan by Lender to Borrower, and (b) contains provisions for acceleration of the maturity hereof upon the happening of certain stated events. 

This Note may not be prepaid except as set forth in Section 2.2 (c) and Section 2.2(d) of the Loan Agreement. 

This Note and the obligation of Borrower to repay the unpaid principal amount of the Term [A][B][C] Loan, interest on the Term [A][B][C] Loan and all other
amounts due Lender under the Loan Agreement is secured under the Loan Agreement and other applicable Loan Documents. 
 Presentment for payment, demand,
notice of protest and all other demands and notices of any kind in connection with the execution, delivery, performance and enforcement of this Note are hereby waived. 

Borrower shall pay all reasonable and documented, attorneys’ fees and expenses, including, without limitation, reasonable attorneys’ fees and costs,
incurred by Lender in the enforcement or attempt to enforce any of Borrower’s obligations hereunder not performed when due, as limited in the Loan Agreement and other applicable Loan Documents. 

This Note shall be governed by, and construed and interpreted in accordance with, the internal laws of the State of New York. 

The ownership of an interest in this Note shall be registered on a record of ownership maintained by Lender or its agent. Notwithstanding anything else in
this Note to the contrary, the right to the principal of, and stated interest on, this Note may be transferred only if the transfer is registered on such record of ownership and the transferee is identified as the owner of an interest in the
obligation. Borrower shall be entitled to treat the registered holder of this Note (as recorded on such record of ownership) as the owner in fact thereof for all purposes and shall not be bound to recognize any equitable or other claim to or
interest in this Note on the part of any other person or entity. 
 [Balance of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, Borrower has caused this Note to be duly executed by one of its officers
thereunto duly authorized on the date hereof. 
  

			
	 BORROWER:

	
	 EIGER BIOPHARMACEUTICALS, INC.

EB PHARMA, LLC

EBPI MERGER, INC.

 
			
		
	 By
	 	 

 
			
	 Name:
	 	 

 
			
	 Title:
	 	 

  
 [Signature Page to
Secured Promissory Note] 

 CORPORATE BORROWING CERTIFICATE 

 

					
	BORROWER:	  	[Borrower]	  	DATE: [DATE]
	LENDER:	  	INNOVATUS LIFE SCIENCES LENDING FUND I, LP, as Collateral Agent and Lender

 I hereby certify as follows, as of the date set forth above: 

1. I am the Secretary, Assistant Secretary or other officer of Borrower. My title is as set forth below. 

2. Borrower’s exact legal name is set forth above. Borrower is a corporation existing under the laws of the State of Delaware. 

3. Attached hereto as Exhibit A and Exhibit B, respectively, are true, correct and complete copies of
(i) Borrower’s Articles/Certificate of Incorporation/Certificate of Formation (including amendments), as filed with the Secretary of State of the state in which Borrower is incorporated as set forth in paragraph 2 above; and
(ii) Borrower’s Bylaws/Limited Liability Company Agreement. Neither such Articles/Certificate of Incorporation/Certificate of Formation nor such Bylaws/Limited Liability Company Agreement have been amended, annulled, rescinded, revoked or
supplemented, and such Articles/Certificate of Incorporation/Certificate of Formation and such Bylaws/Limited Liability Company Agreement remain in full force and effect as of the date hereof. 

4. The following resolutions were duly and validly adopted by Borrower’s Board of Directors/Managers at a duly held meeting of such directors/managers
(or pursuant to a unanimous written consent or other authorized corporate action). Such resolutions are in full force and effect as of the date hereof and have not been in any way modified, repealed, rescinded, amended or revoked, and the Lenders
may rely on them until each Lender receives written notice of revocation from Borrower. 
 [Balance of Page Intentionally Left
Blank] 

 RESOLVED, that any one of the following officers or employees of
Borrower, whose names, titles and signatures are below, may act on behalf of Borrower: 
  

							
	 Name
	  	 Title
	  	 Signature
	  	
Authorized to
Add or Remove
Signatories

	  
	  	  
	  	  
	  	☐
	  
	  	  
	  	  
	  	☐
	  
	  	  
	  	  
	  	☐
	  
	  	  
	  	  
	  	☐

 RESOLVED FURTHER, that any one of the persons designated above with a checked box
beside his or her name may, from time to time, add or remove any individuals to and from the above list of persons authorized to act on behalf of Borrower. 

RESOLVED FURTHER, that such individuals may, on behalf of Borrower: 

Borrow Money. Borrow money from the Lenders. 
 Execute
Loan Documents. Execute any loan documents any Lender requires. 
 Grant Security. Grant Collateral Agent a security interest in any of
Borrower’s assets. 
 Negotiate Items. Negotiate or discount all drafts, trade acceptances, promissory notes, or other indebtedness in which
Borrower has an interest and receive cash or otherwise use the proceeds. 
 Further Acts. Designate other individuals to request advances, pay fees
and costs and execute other documents or agreements (including documents or agreement that waive Borrower’s right to a jury trial) they believe to be necessary to effectuate such resolutions. 

RESOLVED FURTHER, that all acts authorized by the above resolutions and any prior acts
relating thereto are ratified. 
 [Balance of Page Intentionally Left Blank] 

 5. The persons listed above are Borrower’s officers or employees with their titles and signatures shown
next to their names. 
  

			
		
	By:	 	 

 
			
	Name:	 	 

 
			
	Title:	 	 

 *** If the Secretary, Assistant Secretary or other certifying officer executing above is designated by the
resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be signed by a second authorized officer or director of Borrower. 

I, the __________________________ of Borrower, hereby certify as to paragraphs 1 through 5 above, as 

[print title] 
 of the date set forth above. 

 

			
		
	By:	 	 

 
			
	Name:	 	 

 
			
	Title:	 	 

 [Signature Page to Corporate Borrowing
Certificate] 

 EXHIBIT A 

Articles/Certificate of Incorporation (including amendments) 

[see attached] 

 EXHIBIT B 

Bylaws 
 [see
attached] 

 ANNEX I 

Collateral Agent and Lender Terms 

1. Appointment of Collateral Agent. 

(a) Each Lender hereby appoints INNOVATUS LIFE SCIENCES LENDING FUND I, LP (together with any successor Collateral Agent pursuant to
Section 7 of this Annex I) as Collateral Agent under the Loan Documents and authorizes Collateral Agent to (i) execute and deliver the Loan Documents and accept delivery thereof on its behalf from Borrower, (ii) take such action on
its behalf and to exercise all rights, powers and remedies and perform the duties as are expressly delegated to Collateral Agent under such Loan Documents and (iii) exercise such powers as are reasonably incidental thereto. 

(b) Without limiting the generality of clause (a) above, Collateral Agent shall have the sole and exclusive right and authority (to the
exclusion of the Lenders), and is hereby authorized, to (i) act as the disbursing and collecting agent for the Lenders with respect to all payments and collections arising in connection with the Loan Documents (including in any other
bankruptcy, insolvency or similar proceeding), and each Person making any payment in connection with any Loan Document to any Lender is hereby authorized to make such payment to Collateral Agent, (ii) file and prove claims and file other
documents necessary or desirable to allow the claims of Collateral Agent and Lenders with respect to any Obligation in any bankruptcy, insolvency or similar proceeding (but not to vote, consent or otherwise act on behalf of such Lender), (iii) act
as collateral agent for Collateral Agent and each Lender for purposes of the perfection of all Liens created by the Loan Documents and all other purposes stated therein, (iv) manage, supervise and otherwise deal with the Collateral,
(v) take such other action as is necessary or desirable to maintain the perfection and priority of the Liens created or purported to be created by the Loan Documents, (vi) except as may be otherwise specified in any Loan Document, exercise
all remedies given to Collateral Agent and the other Lenders with respect to the Borrower and/or the Collateral, whether under the Loan Documents, applicable Requirements of Law or otherwise and (vii) execute any amendment, consent or waiver
under the Loan Documents on behalf of any Lender that has consented in writing to such amendment, consent or waiver; provided, however, that Collateral Agent hereby appoints, authorizes and directs each Lender to act as collateral sub-agent for Collateral Agent and the Lenders for purposes of the perfection of all Liens with respect to the Collateral, including any Deposit Account maintained by Borrower with, and cash and Cash Equivalents
held by, such Lender, and may further authorize and direct the Lenders to take further actions as collateral sub-agents for purposes of enforcing such Liens or otherwise to transfer the Collateral subject
thereto to Collateral Agent, and each Lender hereby agrees to take such further actions to the extent, and only to the extent, so authorized and directed. Collateral Agent may, upon any term or condition it specifies, delegate or exercise any of its
rights, powers and remedies under, and delegate or perform any of its duties or any other action with respect to, any Loan Document by or through any trustee, co-agent, employee,
attorney-in-fact and any other Person (including any Lender). Any such Person shall benefit from this Annex I to the extent provided by Collateral Agent. 

(c) Under the Loan Documents, Collateral Agent (i) is acting solely on behalf of the Lenders, with duties that are entirely
administrative in nature, notwithstanding the use of the defined term “Collateral Agent”, the terms “agent”, “Collateral Agent” and “collateral agent” and similar terms in any Loan Document to refer to
Collateral Agent, which terms are used for title purposes only, (ii) is not assuming any obligation under any Loan Document other than as expressly set forth therein or any role as agent, fiduciary or trustee of or for any Lender or any other
Person and (iii) shall have no implied functions, responsibilities, duties, obligations or other liabilities under any Loan Document, and each Lender, by accepting the benefits of the Loan Documents, hereby waives and agrees not to assert any
claim against Collateral Agent based on the roles, duties and legal relationships expressly disclaimed in clauses (i) through (iii) above. Except as expressly set forth in the Loan Documents, Collateral Agent shall not have any duty to
disclose, and shall not be liable for failure to disclose, any information relating to Borrower or any of its Subsidiaries that is communicated to or obtained by [LENDER 2] or any of its Affiliates in any capacity. 

 2. Binding Effect; Use of Discretion;
E-Systems. 
 (a) Each Lender, by accepting the benefits of the Loan Documents, agrees that
(i) any action taken by Collateral Agent or Required Lenders (or, if expressly required in any Loan Document, a greater proportion of the Lenders) in accordance with the provisions of the Loan Documents, (ii) any action taken by Collateral
Agent in reliance upon the instructions of Required Lenders (or, where so required, such greater proportion) and (iii) the exercise by Collateral Agent or Required Lenders (or, where so required, such greater proportion) of the powers set forth
herein or therein, together with such other powers as are reasonably incidental thereto, shall be authorized and binding upon all of Lenders. 

(b) If Collateral Agent shall request instructions from Required Lenders or all affected Lenders with respect to any act or action (including
failure to act) in connection with any Loan Document, then Collateral Agent shall be entitled to refrain from such act or taking such action unless and until Collateral Agent shall have received instructions from Required Lenders or all affected
Lenders, as the case may be, and Collateral Agent shall not incur liability to any Person by reason of so refraining. Collateral Agent shall be fully justified in failing or refusing to take any action under any Loan Document (i) if such action
would, in the opinion of Collateral Agent, be contrary to any Requirement of Law or any Loan Document, (ii) if such action would, in the opinion of Collateral Agent, expose Collateral Agent to any potential liability under any Requirement of
Law or (iii) if Collateral Agent shall not first be indemnified to its satisfaction against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. Without limiting the foregoing,
no Lender shall have any right of action whatsoever against Collateral Agent as a result of Collateral Agent acting or refraining from acting under any Loan Document in accordance with the instructions of Required Lenders or all affected Lenders, as
applicable. 
 (c) Collateral Agent is hereby authorized by Borrower and each Lender to establish procedures (and to amend such procedures
from time to time) to facilitate administration and servicing of the Term Loan and other matters incidental thereto. Without limiting the generality of the foregoing, Collateral Agent is hereby authorized to establish procedures to make available or
deliver, or to accept, notices, documents (including, without limitation, borrowing base certificates) and similar items on, by posting to or submitting and/or completion, on E-Systems. Borrower and each
Lender acknowledges and agrees that the use of transmissions via an E-System or electronic mail is not necessarily secure and that there are risks associated with such use, including risks of interception,
disclosure and abuse, and Borrower and each Lender assumes and accepts such risks by hereby authorizing the transmission via E-Systems or electronic mail. Each
“e-signature” on any such posting shall be deemed sufficient to satisfy any requirement for a “signature”, and each such posting shall be deemed sufficient to satisfy any requirement for a
“writing”, in each case including pursuant to any Loan Document, any applicable provision of any Code, the federal Uniform Electronic Transactions Act, the Electronic Signatures in Global and National Commerce Act and any substantive or
procedural Requirement of Law governing such subject matter. All uses of an E-System shall be governed by and subject to, in addition to this Section, the separate terms, conditions and privacy policy posted
or referenced in such E-System (or such terms, conditions and privacy policy as may be updated from time to time, including on such E-System) and related contractual
obligations executed by Collateral Agent, Borrower and/or Lenders in connection with the use of such E-System. ALL E-SYSTEMS AND ELECTRONIC TRANSMISSIONS SHALL BE
PROVIDED “AS IS” AND “AS AVAILABLE”. NO REPRESENTATION OR WARRANTY OF ANY KIND IS MADE BY AGENT, ANY LENDER OR ANY OF THEIR RELATED PERSONS IN CONNECTION WITH ANY E-SYSTEMS. 

3. Collateral Agent’s Reliance, Etc. Collateral Agent may, without incurring any liability hereunder, (a) consult with
any of its Related Persons and, whether or not selected by it, any other advisors, accountants and other experts (including advisors to, and accountants and experts engaged by, Borrower) and (b) rely and act upon any document and information
(including those transmitted by electronic transmission) and any telephone message or conversation, in each case believed by it to be genuine and transmitted, signed or otherwise authenticated by the appropriate parties. None of Collateral Agent and
its Related Persons shall be liable for any action taken or omitted to be taken by any of them under or in connection with any Loan Document, and each Lender and Borrower hereby waives and shall not assert (and Borrower shall cause its Subsidiaries
to waive and agree not to assert) any right, claim or cause of action based thereon, except to the extent of liabilities resulting from the gross negligence or willful misconduct of Collateral Agent or, as the case may be, such Related Person (each
as determined in a final, non-appealable judgment of a court of competent jurisdiction) in connection with the duties of Collateral Agent expressly set forth herein. Without limiting the foregoing, Collateral
Agent: (i) shall not be responsible or otherwise incur liability for any action or omission taken in reliance upon the instructions of the Required Lenders or for the actions or omissions of any of its Related Persons, except to the extent that
a court of competent jurisdiction determines in a final non-appealable judgment that Collateral Agent acted with gross 

 
negligence or willful misconduct in the selection of such Related Person; (ii) shall not be responsible to any Lender or other Person for the due execution, legality, validity,
enforceability, effectiveness, genuineness, sufficiency or value of, or the attachment, perfection or priority of any Lien created or purported to be created under or in connection with, any Loan Document; (iii) makes no warranty or
representation, and shall not be responsible, to any Lender or other Person for any statement, document, information, representation or warranty made or furnished by or on behalf of Borrower or any Related Person of Borrower in connection with any
Loan Document or any transaction contemplated therein or any other document or information with respect to Borrower, whether or not transmitted or (except for documents expressly required under any Loan Document to be transmitted to the Lenders)
omitted to be transmitted by Collateral Agent, including as to completeness, accuracy, scope or adequacy thereof, or for the scope, nature or results of any due diligence performed by Collateral Agent in connection with the Loan Documents; and
(iv) shall not have any duty to ascertain or to inquire as to the performance or observance of any provision of any Loan Document, whether any condition set forth in any Loan Document is satisfied or waived, as to the financial condition of
Borrower or as to the existence or continuation or possible occurrence or continuation of any Event of Default, and shall not be deemed to have notice or Knowledge of such occurrence or continuation unless it has received a notice from Borrower or
any Lender describing such Event of Default that is clearly labeled “notice of default” (in which case Collateral Agent shall promptly give notice of such receipt to all Lenders, provided that Collateral Agent shall not be liable to
any Lender for any failure to do so, except to the extent that such failure is attributable to Collateral Agent’s gross negligence or willful misconduct as determined by a final non-appealable judgment of
a court of competent jurisdiction); and, for each of the items set forth in clauses (i) through (iv) above, each Lender and Borrower hereby waives and agrees not to assert (and Borrower shall cause its Subsidiaries to waive and agree not to
assert) any right, claim or cause of action it might have against Collateral Agent based thereon. 
 4. Collateral Agent
Individually. Collateral Agent and its Affiliates may make loans and other extensions of credit to, acquire stock and stock equivalents of, engage in any kind of business with, Borrower or any Affiliate of Borrower as though it were not acting
as Collateral Agent and may receive separate fees and other payments therefor. To the extent Collateral Agent or any of its Affiliates makes the Term Loan or otherwise becomes a Lender hereunder, it shall have and may exercise the same rights and
powers hereunder and shall be subject to the same obligations and liabilities as any other Lender and the terms “Lender”, “Required Lender” and any similar terms shall, except where otherwise expressly provided in any Loan
Document, include, without limitation, Collateral Agent or such Affiliate, as the case may be, in its individual capacity as Lender, or as one of the Required Lenders. 

5. Lender Credit Decision; Collateral Agent Report. Each Lender acknowledges that it shall, independently and without reliance
upon Collateral Agent, any Lender or any of their Related Persons or upon any document solely or in part because such document was transmitted by Collateral Agent or any of its Related Persons, conduct its own independent investigation of the
financial condition and affairs of Borrower and make and continue to make its own credit decisions in connection with entering into, and taking or not taking any action under, any Loan Document or with respect to any transaction contemplated in any
Loan Document, in each case based on such documents and information as it shall deem appropriate. Except for documents expressly required by any Loan Document to be transmitted by Collateral Agent to the Lenders, Collateral Agent shall not have any
duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations, Property, financial and other condition or creditworthiness of Borrower or any Affiliate of Borrower that may come in
to the possession of Collateral Agent or any of its Related Persons. Each Lender agrees that is shall not rely on any field examination, audit or other report provided by Collateral Agent or its Related Persons (a “Collateral Agent
Report”). Each Lender further acknowledges that any Collateral Agent Report (a) is provided to the Lenders solely as a courtesy, without consideration, and based upon the understanding that such Lender will not rely on such Collateral
Agent Report, (b) was prepared by Collateral Agent or its Related Persons based upon information provided by Borrower solely for Collateral Agent’s own internal use, and (c) may not be complete and may not reflect all information and
findings obtained by Collateral Agent or its Related Persons regarding the operations and condition of Borrower. Neither Collateral Agent nor any of its Related Persons makes any representations or warranties of any kind with respect to (i) any
existing or proposed financing, (ii) the accuracy or completeness of the information contained in any Collateral Agent Report or in any related documentation, (iii) the scope or adequacy of Collateral Agent’s and its Related
Persons’ due diligence, or the presence or absence of any errors or omissions contained in any Collateral Agent Report or in any related documentation, and (iv) any work performed by Collateral Agent or Collateral Agent’s Related
Persons in connection with or using any Collateral 

 
Agent Report or any related documentation. Neither Collateral Agent nor any of its Related Persons shall have any duties or obligations in connection with or as a result of any Lender receiving a
copy of any Collateral Agent Report. Without limiting the generality of the forgoing, neither Collateral Agent nor any of its Related Persons shall have any responsibility for the accuracy or completeness of any Collateral Agent Report, or the
appropriateness of any Collateral Agent Report for any Lender’s purposes, and shall have no duty or responsibility to correct or update any Collateral Agent Report or disclose to any Lender any other information not embodied in any Collateral
Agent Report, including any supplemental information obtained after the date of any Collateral Agent Report. Each Lender releases, and agrees that it will not assert, any claim against Collateral Agent or its Related Persons that in any way relates
to any Collateral Agent Report or arises out of any Lender having access to any Collateral Agent Report or any discussion of its contents, and agrees to indemnify and hold harmless Collateral Agent and its Related Persons from all claims,
liabilities and expenses relating to a breach by any Lender arising out of such Lender’s access to any Collateral Agent Report or any discussion of its contents. 

6. Indemnification. Each Lender agrees to reimburse Collateral Agent and each of its Related Persons (to the extent not
reimbursed by Borrower as required under the Loan Documents) promptly upon demand for its Pro Rata Share of any costs and expenses (including, without limitation, fees, charges and disbursements of financial, legal and other advisors and any taxes
or insurance paid in the name of, or on behalf of, Borrower) incurred by Collateral Agent or any of its Related Persons in connection with the preparation, syndication, execution, delivery, administration, modification, amendment, consent, waiver or
enforcement of, or the taking of any other action (whether through negotiations, through any work-out, bankruptcy, restructuring or other legal or other proceeding (including, without limitation, preparation
for and/or response to any subpoena or request for document production relating thereto) or otherwise) in respect of, or legal advice with respect to, its rights or responsibilities under, any Loan Document. Each Lender further agrees to indemnify
Collateral Agent and each of its Related Persons (to the extent not reimbursed by Borrower as required under the Loan Documents), ratably according to its Pro Rata Share, from and against any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever (including, to the extent not indemnified by the applicable Lender, taxes, interests and penalties imposed for not properly withholding or backup
withholding on payments made to or for the account of any Lender) that may be imposed on, incurred by, or asserted against Collateral Agent or any of its Related Persons in any matter relating to or arising out of, in connection with or as a result
of any Loan Document or any other act, event or transaction related, contemplated in or attendant to any such document, or, in each case, any action taken or omitted to be taken by Collateral Agent or any of its Related Persons under or with respect
to the foregoing; provided that no Lender shall be liable to Collateral Agent or any of its Related Persons under this Section 6 of this Annex I to the extent such liability has resulted from the gross negligence or willful misconduct of
Collateral Agent or, as the case may be, such Related Person, as determined by a final non-appealable judgment of a court of competent jurisdiction. To the extent required by any applicable Requirement of Law,
Collateral Agent may withhold from any payment to any Lender under a Loan Document an amount equal to any applicable withholding tax. If the Internal Revenue Service or any other Governmental Authority asserts a claim that Collateral Agent did not
properly withhold tax from amounts paid to or for the account of any Lender for any reason, or if Collateral Agent reasonably determines that it was required to withhold taxes from a prior payment to or for the account of any Lender but failed to do
so, such Lender shall promptly indemnify Collateral Agent fully for all amounts paid, directly or indirectly, by Collateral Agent as tax or otherwise, including penalties and interest, and together with all expenses incurred by Collateral Agent.
Collateral Agent may offset against any payment to any Lender under a Loan Document, any applicable withholding tax that was required to be withheld from any prior payment to such Lender but which was not so withheld, as well as any other amounts
for which Collateral Agent is entitled to indemnification from such Lender under the immediately preceding sentence of this Section 6 of this Annex I. 

7. Successor Collateral Agent. Collateral Agent may resign at any time by delivering notice of such resignation to the Lenders
and Borrower, effective on the date set forth in such notice or, if no such date is set forth therein, upon the date such notice shall be effective, in accordance with the terms of this Section 7 of this Annex I. If Collateral Agent delivers
any such notice, the Required Lenders shall have the right to appoint a successor Collateral Agent. If, after 30 days after the date of the retiring Collateral Agent’s notice of resignation, no successor Collateral Agent has been appointed by
the Required Lenders that has accepted such appointment, then the retiring Collateral Agent may, on behalf of the Lenders, appoint a successor Collateral Agent from among the Lenders. Effective immediately upon its resignation, (a) the retiring
Collateral Agent shall be discharged from its duties and obligations under the Loan Documents, (b) the Lenders shall assume and perform all of the duties of 

 
Collateral Agent until a successor Collateral Agent shall have accepted a valid appointment hereunder, (c) the retiring Collateral Agent and its Related Persons shall no longer have the
benefit of any provision of any Loan Document other than with respect to any actions taken or omitted to be taken while such retiring Collateral Agent was, or because such Collateral Agent had been, validly acting as Collateral Agent under the Loan
Documents, and (iv) subject to its rights under Section 2(b) of this Annex I, the retiring Collateral Agent shall take such action as may be reasonably necessary to assign to the successor Collateral Agent its rights as Collateral Agent
under the Loan Documents. Effective immediately upon its acceptance of a valid appointment as Collateral Agent, a successor Collateral Agent shall succeed to, and become vested with, all the rights, powers, privileges and duties of the retiring
Collateral Agent under the Loan Documents. 
 8. Release of Collateral. Each Lender hereby consents to the release and hereby
directs Collateral Agent to release (or in the case of clause (b)(ii) below, release or subordinate) the following: 
 (a) any Guarantor or
Subsidiary “co-Borrower” if all of the stock of such Subsidiary owned by Borrower is sold or transferred in a transaction permitted under the Loan Documents (including pursuant to a valid waiver or
consent), to the extent that, after giving effect to such transaction, such Subsidiary would not be required to guaranty any Obligations pursuant to any Loan Document; and 

(b) any Lien held by Collateral Agent for the benefit of itself and the Lenders against (i) any Collateral that is sold or otherwise
disposed of by Borrower in a transaction permitted by the Loan Documents (including pursuant to a valid waiver or consent), (ii) any Collateral subject to a Lien that is expressly permitted under clause (c) of the definition of the term
“Permitted Lien” and (iii) all of the Collateral and Borrower, upon (A) termination of all of the Commitments, (B) payment in full in cash of all of the Obligations that Collateral Agent has theretofore been notified in
writing by the holder of such Obligation are then due and payable, and (C) to the extent requested by Collateral Agent, receipt by Collateral Agent and Lenders of liability releases from Borrower in form and substance acceptable to Collateral
Agent (the satisfaction of the conditions in this clause (iii), the “Termination Date”). 
 9. Setoff and Sharing
of Payments. In addition to any rights now or hereafter granted under any applicable requirement of law and not by way of limitation of any such rights, upon the occurrence and during the continuance of any Event of Default and subject to
Section 10(d) of this Annex I, each Lender is hereby authorized at any time or from time to time upon the direction of Collateral Agent, without notice to Borrower or any other Person, any such notice being hereby expressly waived, to setoff
and to appropriate and to apply any and all balances held by it at any of its offices for the account of Borrower (regardless of whether such balances are then due to Borrower) and any other properties or assets at any time held or owing by that
Lender or that holder to or for the credit or for the account of Borrower against and on account of any of the Obligations that are not paid when due. Any Lender exercising a right of setoff or otherwise receiving any payment on account of the
Obligations in excess of its Pro Rata Share thereof shall purchase for cash (and the other Lenders or holders shall sell) such participations in each such other Lender’s or holder’s Pro Rata Share of the Obligations as would be necessary
to cause such Lender to share the amount so offset or otherwise received with each other Lender or holder in accordance with their respective Pro Rata Shares of the Obligations. Borrower agrees, to the fullest extent permitted by law, that
(a) any Lender may exercise its right to offset with respect to amounts in excess of its Pro Rata Share of the Obligations and may purchase participations in accordance with the preceding sentence and (b) any Lender so purchasing a
participation in the Term Loan made or other Obligations held by other Lenders or holders may exercise all rights of offset, bankers’ lien, counterclaim or similar rights with respect to such participation as fully as if such Lender or holder
were a direct holder of the Term Loan and the other Obligations in the amount of such participation. Notwithstanding the foregoing, if all or any portion of the offset amount or payment otherwise received is thereafter recovered from the Lender that
has exercised the right of offset, the purchase of participations by that Lender shall be rescinded and the purchase price restored without interest. 

10. Advances; Payments; Non-Funding Lenders; Actions in Concert. 

(a) Advances; Payments. If Collateral Agent receives any payment with respect to the Term Loan for the account of Lenders on or prior
to 3:00 p.m. (New York time) on any Business Day, Collateral Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on such Business Day. If Collateral Agent receives any payment with respect to the Term Loan for
the account of Lenders after 3:00 p.m. 

 
(New York time) on any Business Day, Collateral Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on the next Business Day. 

(b) Return of Payments. 
 (i)
If Collateral Agent pays an amount to a Lender under this Agreement in the belief or expectation that a related payment has been or will be received by Collateral Agent from Borrower and such related payment is not received by Collateral Agent, then
Collateral Agent will be entitled to recover such amount (including interest accruing on such amount at the rate otherwise applicable to such Obligation) from such Lender on demand without setoff, counterclaim or deduction of any kind. 

(ii) If Collateral Agent determines at any time that any amount received by Collateral Agent under any Loan Document must be returned to
Borrower or paid to any other Person pursuant to any insolvency law or otherwise, then, notwithstanding any other term or condition of any Loan Document, Collateral Agent will not be required to distribute any portion thereof to any Lender. In
addition, each Lender will repay to Collateral Agent on demand any portion of such amount that Collateral Agent has distributed to such Lender, together with interest at such rate, if any, as Collateral Agent is required to pay to Borrower or such
other Person, without setoff, counterclaim or deduction of any kind and Collateral Agent will be entitled to set off against future distributions to such Lender any such amounts (with interest) that are not repaid on demand. 

(c) Non-Funding Lenders. 

(i) Unless Collateral Agent shall have received notice from a Lender prior to the date of any Term Loan that such Lender will
not make available to Collateral Agent such Lender’s Pro Rata Share of such Term Loan, Collateral Agent may assume that such Lender will make such amount available to it on the date of such Term Loan in accordance with Section 2(b) of this
Annex I, and Collateral Agent may (but shall not be obligated to), in reliance upon such assumption, make available a corresponding amount for the account of Borrower on such date. If and to the extent that such Lender shall not have made such
amount available to Collateral Agent, such Lender and Borrower severally agree to repay to Collateral Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the day such amount is made available to
Borrower until the day such amount is repaid to Collateral Agent, at a rate per annum equal to the interest rate applicable to the Obligation that would have been created when Collateral Agent made available such amount to Borrower had such Lender
made a corresponding payment available. If such Lender shall repay such corresponding amount to Collateral Agent, the amount so repaid shall constitute such Lender’s portion of such Term Loan for purposes of this Agreement. 

(ii) To the extent that any Lender has failed to fund any Term Loan or any other payments required to be made by it under the Loan Documents
after any such Term Loan is required to be made or such payment is due (a “Non-Funding Lender”), Collateral Agent shall be entitled to set off the funding short-fall against that Non-Funding Lender’s Pro Rata Share of all payments received from Borrower. The failure of any Non-Funding Lender to make any Term Loan or any payment required by it
hereunder shall not relieve any other Lender (each such other Lender, an “Other Lender”) of its obligations to make such Term Loan, but neither any Other Lender nor Collateral Agent shall be responsible for the failure of any Non-Funding Lender to make such Term Loan or make any other payment required hereunder. Notwithstanding anything set forth herein to the contrary, a Non-Funding Lender shall
not have any voting or consent rights under or with respect to any Loan Document or constitute a “Lender” (or be included in the calculation of “Required Lender” hereunder) for any voting or consent rights under or with respect
to any Loan Document. At Borrower’s request, Collateral Agent or a Person reasonably acceptable to Collateral Agent shall have the right with Collateral Agent’s consent and in Collateral Agent’s sole discretion (but Collateral Agent
or any such Person shall have no obligation) to purchase from any Non-Funding Lender, and each Lender agrees that if it becomes a Non-Funding Lender it shall, at
Collateral Agent’s request, sell and assign to Collateral Agent or such Person, all of the Term Loan Commitment (if any), and all of the outstanding Term Loan of that Non-Funding Lender for an amount
equal to the aggregate outstanding principal balance of the Term Loan held by such Non-Funding Lender and all accrued interest with respect thereto through the date of sale, such purchase and sale to be
consummated pursuant to an executed assignment agreement in form and substance reasonably satisfactory to, and acknowledged by, Collateral Agent. 

 (d) Actions in Concert. Anything in this Agreement to the contrary notwithstanding,
each Lender hereby agrees with each other Lender that no Lender shall take any action to protect or enforce its rights arising out of any Loan Document (including exercising any rights of setoff) without first obtaining the prior written consent of
Collateral Agent or Required Lenders, it being the intent of Lenders that any such action to protect or enforce rights under any Loan Document shall be taken in concert and at the direction or with the consent of Collateral Agent or Required
Lenders. 

 ANNEX Y 

LOAN INTEREST RATE AND PAYMENT OF PRINCIPAL 

(Term Loan) 
 PLEASE SEE
ATTACHED 

																																																					
	 Month
	  	Beginning
Date	 	  	Ending
Date	 	  	Payment
Date	 	  	Beginning
Loan
Balance	 	  	Greater of
Prime Rate
or 3.25%	 	 	Interest
Rate	 	 	Interest
Earned	 	  	PIK
Interest	 	  	Cash
Interest	 	  	Principal
Amortization	 	  	Total
Payment	 	  	Tranche
B/ C
Funding	 	  	Ending
Loan 
Balance	 
	 1
	  	 	6/1/22	 	  	 	6/30/22	 	  	 	7/1/22	 	  	$	40,000,000.00	 	  	 	4.00	% 	 	 	7.75	% 	 	$	254,794.52	 	  	$	73,972.60	 	  	$	180,821.92	 	  	 	—  	 	  	$	180,821.92	 	  	 	—  	 	  	$	40,073,972.60	 
	 2
	  	 	7/1/22	 	  	 	7/31/22	 	  	 	8/1/22	 	  	$	40,073,972.60	 	  	 	4.00	% 	 	 	7.75	% 	 	$	263,774.57	 	  	$	76,579.71	 	  	$	187,194.86	 	  	 	—  	 	  	$	187,194.86	 	  	 	—  	 	  	$	40,150,552.32	 
	 3
	  	 	8/1/22	 	  	 	8/31/22	 	  	 	9/1/22	 	  	$	40,150,552.32	 	  	 	4.00	% 	 	 	7.75	% 	 	$	264,278.64	 	  	$	76,726.06	 	  	$	187,552.58	 	  	 	—  	 	  	$	187,552.58	 	  	 	—  	 	  	$	40,227,278.37	 
	 4
	  	 	9/1/22	 	  	 	9/30/22	 	  	 	10/1/22	 	  	$	40,227,278.37	 	  	 	4.00	% 	 	 	7.75	% 	 	$	256,242.25	 	  	$	74,392.91	 	  	$	181,849.34	 	  	 	—  	 	  	$	181,849.34	 	  	 	—  	 	  	$	40,301,671.29	 
	 5
	  	 	10/1/22	 	  	 	10/31/22	 	  	 	11/1/22	 	  	$	40,301,671.29	 	  	 	4.00	% 	 	 	7.75	% 	 	$	265,273.33	 	  	$	77,014.84	 	  	$	188,258.49	 	  	 	—  	 	  	$	188,258.49	 	  	 	—  	 	  	$	40,378,686.12	 
	 6
	  	 	11/1/22	 	  	 	11/30/22	 	  	 	12/1/22	 	  	$	40,378,686.12	 	  	 	4.00	% 	 	 	7.75	% 	 	$	257,206.70	 	  	$	74,672.91	 	  	$	182,533.79	 	  	 	—  	 	  	$	182,533.79	 	  	 	—  	 	  	$	40,453,359.04	 
	 7
	  	 	12/1/22	 	  	 	12/31/22	 	  	 	1/1/23	 	  	$	40,453,359.04	 	  	 	4.00	% 	 	 	7.75	% 	 	$	266,271.77	 	  	$	77,304.71	 	  	$	188,967.06	 	  	 	—  	 	  	$	188,967.06	 	  	 	—  	 	  	$	40,530,663.74	 
	 8
	  	 	1/1/23	 	  	 	1/31/23	 	  	 	2/1/23	 	  	$	40,530,663.74	 	  	 	4.00	% 	 	 	7.75	% 	 	$	266,780.60	 	  	$	77,452.43	 	  	$	189,328.17	 	  	 	—  	 	  	$	189,328.17	 	  	 	—  	 	  	$	40,608,116.17	 
	 9
	  	 	2/1/23	 	  	 	2/28/23	 	  	 	3/1/23	 	  	$	40,608,116.17	 	  	 	4.00	% 	 	 	7.75	% 	 	$	241,423.59	 	  	$	70,090.72	 	  	$	171,332.87	 	  	 	—  	 	  	$	171,332.87	 	  	 	—  	 	  	$	40,678,206.90	 
	 10
	  	 	3/1/23	 	  	 	3/31/23	 	  	 	4/1/23	 	  	$	40,678,206.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	267,751.76	 	  	$	77,734.38	 	  	$	190,017.38	 	  	 	—  	 	  	$	190,017.38	 	  	 	—  	 	  	$	40,755,941.28	 
	 11
	  	 	4/1/23	 	  	 	4/30/23	 	  	 	5/1/23	 	  	$	40,755,941.28	 	  	 	4.00	% 	 	 	7.75	% 	 	$	259,609.76	 	  	$	75,370.58	 	  	$	184,239.19	 	  	 	—  	 	  	$	184,239.19	 	  	 	—  	 	  	$	40,831,311.85	 
	 12
	  	 	5/1/23	 	  	 	5/31/23	 	  	 	6/1/23	 	  	$	40,831,311.85	 	  	 	4.00	% 	 	 	7.75	% 	 	$	268,759.53	 	  	$	78,026.96	 	  	$	190,732.57	 	  	 	—  	 	  	$	190,732.57	 	  	 	—  	 	  	$	40,909,338.81	 
	 13
	  	 	6/1/23	 	  	 	6/30/23	 	  	 	7/1/23	 	  	$	40,909,338.81	 	  	 	4.00	% 	 	 	7.75	% 	 	$	260,586.88	 	  	$	75,654.26	 	  	$	184,932.63	 	  	 	—  	 	  	$	184,932.63	 	  	 	—  	 	  	$	40,984,993.07	 
	 14
	  	 	7/1/23	 	  	 	7/31/23	 	  	 	8/1/23	 	  	$	40,984,993.07	 	  	 	4.00	% 	 	 	7.75	% 	 	$	269,771.08	 	  	$	78,320.64	 	  	$	191,450.45	 	  	 	—  	 	  	$	191,450.45	 	  	 	—  	 	  	$	41,063,313.71	 
	 15
	  	 	8/1/23	 	  	 	8/31/23	 	  	 	9/1/23	 	  	$	41,063,313.71	 	  	 	4.00	% 	 	 	7.75	% 	 	$	270,286.61	 	  	$	78,470.30	 	  	$	191,816.30	 	  	 	—  	 	  	$	191,816.30	 	  	 	—  	 	  	$	41,141,784.01	 
	 16
	  	 	9/1/23	 	  	 	9/30/23	 	  	 	10/1/23	 	  	$	41,141,784.01	 	  	 	4.00	% 	 	 	7.75	% 	 	$	262,067.53	 	  	$	76,084.12	 	  	$	185,983.41	 	  	 	—  	 	  	$	185,983.41	 	  	 	—  	 	  	$	41,217,868.13	 
	 17
	  	 	10/1/23	 	  	 	10/31/23	 	  	 	11/1/23	 	  	$	41,217,868.13	 	  	 	4.00	% 	 	 	7.75	% 	 	$	271,303.91	 	  	$	78,765.65	 	  	$	192,538.26	 	  	 	—  	 	  	$	192,538.26	 	  	 	—  	 	  	$	41,296,633.79	 
	 18
	  	 	11/1/23	 	  	 	11/30/23	 	  	 	12/1/23	 	  	$	41,296,633.79	 	  	 	4.00	% 	 	 	7.75	% 	 	$	263,053.90	 	  	$	76,370.49	 	  	$	186,683.41	 	  	 	—  	 	  	$	186,683.41	 	  	 	—  	 	  	$	41,373,004.27	 
	 19
	  	 	12/1/23	 	  	 	12/31/23	 	  	 	1/1/24	 	  	$	41,373,004.27	 	  	 	4.00	% 	 	 	7.75	% 	 	$	272,325.05	 	  	$	79,062.11	 	  	$	193,262.94	 	  	 	—  	 	  	$	193,262.94	 	  	 	—  	 	  	$	41,452,066.38	 
	 20
	  	 	1/1/24	 	  	 	1/31/24	 	  	 	2/1/24	 	  	$	41,452,066.38	 	  	 	4.00	% 	 	 	7.75	% 	 	$	272,845.45	 	  	$	79,213.20	 	  	$	193,632.26	 	  	 	—  	 	  	$	193,632.26	 	  	 	—  	 	  	$	41,531,279.58	 
	 21
	  	 	2/1/24	 	  	 	2/29/24	 	  	 	3/1/24	 	  	$	41,531,279.58	 	  	 	4.00	% 	 	 	7.75	% 	 	$	255,730.28	 	  	$	74,244.27	 	  	$	181,486.00	 	  	 	—  	 	  	$	181,486.00	 	  	 	—  	 	  	$	41,605,523.85	 
	 22
	  	 	3/1/24	 	  	 	3/31/24	 	  	 	4/1/24	 	  	$	41,605,523.85	 	  	 	4.00	% 	 	 	7.75	% 	 	$	273,855.54	 	  	$	79,506.45	 	  	$	194,349.09	 	  	 	—  	 	  	$	194,349.09	 	  	 	—  	 	  	$	41,685,030.30	 
	 23
	  	 	4/1/24	 	  	 	4/30/24	 	  	 	5/1/24	 	  	$	41,685,030.30	 	  	 	4.00	% 	 	 	7.75	% 	 	$	265,527.93	 	  	$	77,088.75	 	  	$	188,439.18	 	  	 	—  	 	  	$	188,439.18	 	  	 	—  	 	  	$	41,762,119.05	 
	 24
	  	 	5/1/24	 	  	 	5/31/24	 	  	 	6/1/24	 	  	$	41,762,119.05	 	  	 	4.00	% 	 	 	7.75	% 	 	$	274,886.28	 	  	$	79,805.69	 	  	$	195,080.58	 	  	 	—  	 	  	$	195,080.58	 	  	 	—  	 	  	$	41,841,924.75	 
	 25
	  	 	6/1/24	 	  	 	6/30/24	 	  	 	7/1/24	 	  	$	41,841,924.75	 	  	 	4.00	% 	 	 	7.75	% 	 	$	266,527.33	 	  	$	77,378.90	 	  	$	189,148.43	 	  	 	—  	 	  	$	189,148.43	 	  	 	—  	 	  	$	41,919,303.65	 
	 26
	  	 	7/1/24	 	  	 	7/31/24	 	  	 	8/1/24	 	  	$	41,919,303.65	 	  	 	4.00	% 	 	 	7.75	% 	 	$	275,920.90	 	  	$	80,106.07	 	  	$	195,814.83	 	  	 	—  	 	  	$	195,814.83	 	  	 	—  	 	  	$	41,999,409.71	 
	 27
	  	 	8/1/24	 	  	 	8/31/24	 	  	 	9/1/24	 	  	$	41,999,409.71	 	  	 	4.00	% 	 	 	7.75	% 	 	$	276,448.17	 	  	$	80,259.15	 	  	$	196,189.02	 	  	 	—  	 	  	$	196,189.02	 	  	 	—  	 	  	$	42,079,668.86	 
	 28
	  	 	9/1/24	 	  	 	9/30/24	 	  	 	10/1/24	 	  	$	42,079,668.86	 	  	 	4.00	% 	 	 	7.75	% 	 	$	268,041.73	 	  	$	77,818.57	 	  	$	190,223.16	 	  	 	—  	 	  	$	190,223.16	 	  	 	—  	 	  	$	42,157,487.43	 
	 29
	  	 	10/1/24	 	  	 	10/31/24	 	  	 	11/1/24	 	  	$	42,157,487.43	 	  	 	4.00	% 	 	 	7.75	% 	 	$	277,488.67	 	  	$	80,561.23	 	  	$	196,927.44	 	  	 	—  	 	  	$	196,927.44	 	  	 	—  	 	  	$	42,238,048.65	 
	 30
	  	 	11/1/24	 	  	 	11/30/24	 	  	 	12/1/24	 	  	$	42,238,048.65	 	  	 	4.00	% 	 	 	7.75	% 	 	$	269,050.58	 	  	$	78,111.46	 	  	$	190,939.12	 	  	 	—  	 	  	$	190,939.12	 	  	 	—  	 	  	$	42,316,160.11	 
	 31
	  	 	12/1/24	 	  	 	12/31/24	 	  	 	1/1/25	 	  	$	42,316,160.11	 	  	 	4.00	% 	 	 	7.75	% 	 	$	278,533.08	 	  	$	80,864.44	 	  	$	197,668.64	 	  	 	—  	 	  	$	197,668.64	 	  	 	—  	 	  	$	42,397,024.56	 
	 32
	  	 	1/1/25	 	  	 	1/31/25	 	  	 	2/1/25	 	  	$	42,397,024.56	 	  	 	4.00	% 	 	 	7.75	% 	 	$	279,065.35	 	  	$	81,018.97	 	  	$	198,046.37	 	  	 	—  	 	  	$	198,046.37	 	  	 	—  	 	  	$	42,478,043.53	 
	 33
	  	 	2/1/25	 	  	 	2/28/25	 	  	 	3/1/25	 	  	$	42,478,043.53	 	  	 	4.00	% 	 	 	7.75	% 	 	$	252,540.70	 	  	$	73,318.27	 	  	$	179,222.43	 	  	 	—  	 	  	$	179,222.43	 	  	 	—  	 	  	$	42,551,361.79	 
	 34
	  	 	3/1/25	 	  	 	3/31/25	 	  	 	4/1/25	 	  	$	42,551,361.79	 	  	 	4.00	% 	 	 	7.75	% 	 	$	280,081.22	 	  	$	81,313.90	 	  	$	198,767.32	 	  	 	—  	 	  	$	198,767.32	 	  	 	—  	 	  	$	42,632,675.70	 
	 35
	  	 	4/1/25	 	  	 	4/30/25	 	  	 	5/1/25	 	  	$	42,632,675.70	 	  	 	4.00	% 	 	 	7.75	% 	 	$	271,564.30	 	  	$	78,841.25	 	  	$	192,723.05	 	  	 	—  	 	  	$	192,723.05	 	  	 	—  	 	  	$	42,711,516.95	 
	 36
	  	 	5/1/25	 	  	 	5/31/25	 	  	 	6/1/25	 	  	$	42,711,516.95	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,135.40	 	  	$	81,619.95	 	  	$	199,515.44	 	  	 	—  	 	  	$	199,515.44	 	  	 	—  	 	  	$	42,793,136.90	 
	 37
	  	 	6/1/25	 	  	 	6/30/25	 	  	 	7/1/25	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	42,793,136.90	 
	 38
	  	 	7/1/25	 	  	 	7/31/25	 	  	 	8/1/25	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 39
	  	 	8/1/25	 	  	 	8/31/25	 	  	 	9/1/25	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 40
	  	 	9/1/25	 	  	 	9/30/25	 	  	 	10/1/25	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	42,793,136.90	 
	 41
	  	 	10/1/25	 	  	 	10/31/25	 	  	 	11/1/25	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 42
	  	 	11/1/25	 	  	 	11/30/25	 	  	 	12/1/25	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	42,793,136.90	 
	 43
	  	 	12/1/25	 	  	 	12/31/25	 	  	 	1/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 44
	  	 	1/1/26	 	  	 	1/31/26	 	  	 	2/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 45
	  	 	2/1/26	 	  	 	2/28/26	 	  	 	3/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	254,413.99	 	  	 	—  	 	  	$	254,413.99	 	  	 	—  	 	  	$	254,413.99	 	  	 	—  	 	  	$	42,793,136.90	 
	 46
	  	 	3/1/26	 	  	 	3/31/26	 	  	 	4/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 47
	  	 	4/1/26	 	  	 	4/30/26	 	  	 	5/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	42,793,136.90	 
	 48
	  	 	5/1/26	 	  	 	5/31/26	 	  	 	6/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 49
	  	 	6/1/26	 	  	 	6/30/26	 	  	 	7/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	42,793,136.90	 
	 50
	  	 	7/1/26	 	  	 	7/31/26	 	  	 	8/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 51
	  	 	8/1/26	 	  	 	8/31/26	 	  	 	9/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 52
	  	 	9/1/26	 	  	 	9/30/26	 	  	 	10/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	42,793,136.90	 
	 53
	  	 	10/1/26	 	  	 	10/31/26	 	  	 	11/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 54
	  	 	11/1/26	 	  	 	11/30/26	 	  	 	12/1/26	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	42,793,136.90	 
	 55
	  	 	12/1/26	 	  	 	12/31/26	 	  	 	1/1/27	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 56
	  	 	1/1/27	 	  	 	1/31/27	 	  	 	2/1/27	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 57
	  	 	2/1/27	 	  	 	2/28/27	 	  	 	3/1/27	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	254,413.99	 	  	 	—  	 	  	$	254,413.99	 	  	 	—  	 	  	$	254,413.99	 	  	 	—  	 	  	$	42,793,136.90	 
	 58
	  	 	3/1/27	 	  	 	3/31/27	 	  	 	4/1/27	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 59
	  	 	4/1/27	 	  	 	4/30/27	 	  	 	5/1/27	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	 	—  	 	  	$	42,793,136.90	 
	 60
	  	 	5/1/27	 	  	 	5/31/27	 	  	 	6/1/27	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	281,672.63	 	  	 	—  	 	  	$	42,793,136.90	 
	 61
	  	 	6/1/27	 	  	 	6/30/27	 	  	 	7/1/27	 	  	$	42,793,136.90	 	  	 	4.00	% 	 	 	7.75	% 	 	$	272,586.42	 	  	 	—  	 	  	$	272,586.42	 	  	$	14,264,378.97	 	  	$	14,536,965.39	 	  	 	—  	 	  	$	28,528,757.93	 
	 62
	  	 	7/1/27	 	  	 	7/31/27	 	  	 	8/1/27	 	  	$	28,528,757.93	 	  	 	4.00	% 	 	 	7.75	% 	 	$	187,781.76	 	  	 	—  	 	  	$	187,781.76	 	  	$	14,264,378.97	 	  	$	14,452,160.72	 	  	 	—  	 	  	$	14,264,378.97	 
	 63
	  	 	8/1/27	 	  	 	8/31/27	 	  	 	8/31/27	 	  	$	14,264,378.97	 	  	 	4.00	% 	 	 	7.75	% 	 	$	93,890.88	 	  	 	—  	 	  	$	93,890.88	 	  	$	14,264,378.97	 	  	$	14,358,269.84	 	  	 	—  	 	  	$	0.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}]]