Document:

EX-10.1

 Exhibit 10.1 

CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

This Ninth Amended and Restated Investors’ Rights Agreement (this “Agreement”) is made as of June 29, 2020, by and among
Cardiva Medical, Inc., a Delaware corporation (the “Company”), and the Holders (as defined below) listed on Exhibit A hereto. This Agreement amends and restates the Seventh Amended and Restated Investors’ Rights
Agreement dated January 30, 2017 (the “Prior Rights Agreement”) entered into among the Company and certain of the Holders. Unless otherwise defined herein, capitalized terms used in this Agreement have the meanings ascribed to
them in Section 1. 
 RECITALS 

WHEREAS, certain of the Holders are parties to the Series 6 Preferred Stock Purchase Agreement of even date herewith (as may be amended
from time to time, the “Series 6 Purchase Agreement”), and it is a condition to the closing of the sale Series 6 Preferred Stock to certain of the Holders listed on such Schedule of Investors to the Series 6 Purchase Agreement that
certain Holders and the Company execute and deliver this Agreement; 
 WHEREAS, pursuant to the terms of the Prior Rights Agreement,
neither the Prior Rights Agreement nor any provision thereof may be amended, waived, discharged or terminated other than by written instrument referencing this Agreement and signed by the Company and the holders of at least a majority of the
Registrable Securities (as defined in the Prior Rights Agreement) (excluding any such shares that have been sold to the public or pursuant to Rule 144) (the “Required Parties”); and 

WHEREAS, the Company and each of the undersigned Holders, which include the Required Parties, desire to facilitate the investors’
rights arrangements set forth in this Agreement, amend and restate the Prior Rights Agreement as set forth herein and facilitate the sale and purchase of the shares of Series 6 Preferred pursuant to the Series 6 Purchase Agreement, by agreeing to
the terms and conditions set forth below. 
 NOW, THEREFORE: In consideration of the mutual promises and covenants set forth herein,
and other consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows: 
 Section 1

 Definitions 

1.1 Certain Definitions. As used in this Agreement, the following terms shall have the meanings set forth below: 

(a) “Change of Control” means a transaction that qualifies as a “Liquidation” as defined in the Company’s
Amended and Restated Certificate of Incorporation. 
 (b) “Commission” shall mean the Securities and Exchange Commission or
any other federal agency at the time administering the Securities Act. 
 (c) “Common Stock” means the Common Stock of the
Company. 

 (d) “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended, or any similar successor federal statute and the rules and regulations thereunder, all as the same shall be in effect from time to time. 

(e) “Holder” shall mean: (1) any holder of Registrable Securities; (2) a purchaser of Common Stock upon exercise of
a Warrant (provided that such purchaser execute this Agreement upon exercise of such Warrant); and (3) any holder of Registrable Securities to whom the registration rights conferred by this Agreement have been duly and validly transferred in
accordance with Section 2.12 of this Agreement. 
 (f) “Indemnified Party” shall have the meaning
set forth in Section 2.6(c) hereto. 
 (g) “Indemnifying Party” shall have the meaning set forth
in Section 2.6(c) hereto. 
 (h) “Initial Public Offering” shall mean the closing of the
Company’s first firm commitment underwritten initial public offering pursuant to an effective registration statement filed under the Securities Act covering the offer and sale of the Company’s Common Stock. 

(i) “Initiating Holders” shall mean any Holder or Holders who in the aggregate hold not less than fifty percent (50%) of the
outstanding Registrable Securities. 
 (j) “New Securities” shall have the meaning set forth in
Section 4.1(a) hereto. 
 (k) “Preferred Holder” shall mean any holder of Preferred Stock. 

(l) “Preferred Stock” shall mean the Series 3 Preferred Stock, the Series 4 Preferred Stock, Series 5 Preferred Stock, and
Series 6 Preferred Stock. 
 (m) “Recapitalization” shall mean any stock dividend, stock split, combination of shares,
reorganization, recapitalization, reclassification or other similar event. 
 (n) “Registrable Securities” shall mean
(i) shares of Common Stock issued or issuable pursuant to the conversion of the Shares, (ii) any Common Stock issued as a dividend or other distribution with respect to or in exchange for or in replacement of the shares referenced in
(i) above, and (iii) for purposes of Section 2 only, Common Stock acquired upon exercise of a Warrant; provided, however, that Registrable Securities shall not include any shares of Common Stock described in
clause (i) or (ii) above that have previously been registered, that have been sold to the public either pursuant to a registration statement or Rule 144, or that have been sold in a private transaction in which the transferor’s rights
under this Agreement are not validly assigned in accordance with this Agreement. 
 (o) The terms “register,”
“registered” and “registration” shall refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act and applicable rules and regulations thereunder, and the
declaration or ordering of the effectiveness of such registration statement. 
 (p) “Registration Expenses” shall mean all
expenses incurred in effecting any registration pursuant to this Agreement, including, without limitation, all registration, qualification, and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company, fees and
disbursements of a single counsel representing all selling Holders, fees and disbursements of counsel representing any selling Holder holding not less than ten percent (10%) of the Registrable Securities (such amount not to exceed $25,000 with
respect to each such Holder), blue sky fees and expenses, and expenses of any regular or special audits incident to or required by any such registration, but shall not include Selling Expenses and the compensation of regular employees of the
Company. 

  
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 (q) “Restricted Securities” shall mean any Registrable Securities required
to bear the first legend set forth in Section 2.8(c) hereof. 
 (r) “Right of First Refusal
Agreement” shall mean that certain Amended and Restated Right of First Refusal and Co-Sale Agreement, by and between the Company, the Investors and the Stockholders (in each case, as defined therein),
dated as of the date hereof, and as may be amended from time to time. 
 (s) “Rule 144” shall mean Rule 144 as promulgated
by the Commission under the Securities Act, as such Rule may be amended from time to time, or any similar successor rule that may be promulgated by the Commission. 

(t) “Rule 145” shall mean Rule 145 as promulgated by the Commission under the Securities Act, as such Rule may be amended
from time to time, or any similar successor rule that may be promulgated by the Commission 
 (u) “Rule 415” shall mean
Rule 415 as promulgated by the Commission under the Securities Act, as such Rule may be amended from time to time, or any similar successor rule that may be promulgated by the Commission. 

(v) “Securities Act” shall mean the Securities Act of 1933, as amended, or any similar successor federal statute and the
rules and regulations thereunder, all as the same shall be in effect from time to time. 
 (w) “Selling Expenses” shall
mean all underwriting discounts, selling commissions and stock transfer taxes applicable to the sale of Registrable Securities and fees and disbursements of counsel for any Holder, other than (i) Registration Expenses associated with a single
counsel representing all selling Holders and (ii) Registration Expenses associated with the separate counsel of such Holder, if such Holder holds not less than ten percent (10%) of the Registrable Securities (such amount not to exceed $25,000
with respect to such Holder). 
 (x) “Series 3 Preferred Stock” shall mean the Company’s Series 3 Preferred Stock.

 (y) “Series 4 Preferred Stock” shall mean the Company’s Series 4 Preferred Stock. 

(z) “Series 5 Preferred Stock” shall mean the Company’s Series 5 Preferred Stock. 

(aa) “Series 6 Preferred Stock” shall mean the Company’s Series 6 Preferred Stock. 

(bb) “Series 6 Purchase Agreement” shall have the meaning set forth in the Recitals hereto. 

(cc) “Shares” shall mean shares Preferred Stock. 

(dd) “Withdrawn Registration” shall mean a forfeited demand registration under Section 2.1 in
accordance with the terms and conditions of Section 2.4. 

  
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 Section 2 

Registration Rights 

2.1 Requested Registration. 

(a) Request for Registration. Subject to the conditions set forth in this Section 2.1, if the Company shall
receive from Initiating Holders a written request signed by such Initiating Holders that the Company effect any registration with respect to all or a part of the Registrable Securities (such request shall state the number of shares of Registrable
Securities to be disposed of by such Initiating Holders), the Company will: 
 (i) promptly, and in any event within fifteen (15) days,
give written notice of the proposed registration to all other Holders; and 
 (ii) as soon as practicable, and in any event within ninety
(90) days of such request subject to any limitations set forth in this Section 2.1, file and use its commercially reasonable efforts to effect such registration (including, without limitation, filing post-effective
amendments, appropriate qualifications under applicable blue sky or other state securities laws, and appropriate compliance with the Securities Act) and to permit or facilitate the sale and distribution of all or such portion of such Registrable
Securities as are specified in such request, together with all or such portion of the Registrable Securities of any Holder or Holders joining in such request as are specified in a written request received by the Company within twenty (20) days
after such written notice from the Company is mailed or delivered. 
 (b) Limitations on Requested Registration. The Company shall
not be obligated to effect, or to take any action to effect, any such registration pursuant to this Section 2.1: 

(i) Prior to the earlier of (A) the three (3) year anniversary of the date of this Agreement or (B) one hundred eighty
(180) days following the effective date of the first registration statement filed by the Company covering an underwritten offering of any of its securities to the general public; 

(ii) If the Initiating Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration
statement, propose to sell Registrable Securities and such other securities (if any) the aggregate proceeds of which (after deduction for underwriter’s discounts and expenses related to the issuance) are less than twenty million U.S. dollars
($20,000,000); 
 (iii) In any particular jurisdiction in which the Company would be required to execute a general consent to service of
process in effecting such registration, qualification, or compliance, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; 

(iv) After the Company has initiated three (3) such registrations pursuant to this Section 2.1 (counting for
these purposes only (x) registrations that have been declared or ordered effective and pursuant to which securities have been sold, and (y) Withdrawn Registrations); 

(v) During the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date of filing of,
and ending on a date ninety (90) days after the effective date of, a Company-initiated registration (other than the Company’s initial registration which is addressed under Section 2.1(b)(i) above); provided that
the Company is actively employing in good faith all reasonable efforts to cause such registration statement to become effective; or 

  
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 (vi) If the Initiating Holders propose to dispose of shares of Registrable Securities which
may be immediately registered on Form S-3 pursuant to a request made under Section 2.3 hereof. 

(c) Deferral. If (i) in the good faith judgment of the Board of Directors of the Company, the filing of a registration statement
covering the Registrable Securities would be detrimental to the Company and its shareholders and the Board of Directors of the Company concludes, as a result, that it is in the best interests of the Company to defer the filing of such registration
statement at such time, and (ii) the Company shall furnish to such Holders a certificate signed by the President of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be detrimental to the
Company and its shareholders for such registration statement to be filed in the near future and that it is, therefore, in the best interests of the Company to defer the filing of such registration statement, then (in addition to the limitations set
forth in Section 2.1(b)(v) above) the Company shall have the right to defer such filing for a period of not more than sixty (60) days after receipt of the request of the Initiating Holders, and, provided further, that
the Company shall not defer its obligation in this manner more than twice in any twelve (12) month period. 
 (d) Underwriting.
If the Initiating Holders intend to distribute the Registrable Securities covered by their request pursuant to this Section 2.1 by means of an underwriting, they shall so advise the Company as a part of their request made
pursuant to this Section 2.1 and the Company shall include such information in the written notice given pursuant to Section 2.1(a)(i). In such event, the right of any Holder to include all or any
portion of its Registrable Securities in such registration pursuant to this Section 2.1 shall be conditioned upon such Holder’s participation in such an underwriting and the inclusion of such Holder’s Registrable
Securities to the extent provided herein. If the Company shall request inclusion in any registration pursuant to Section 2.1 of securities being sold for its own account, or if other persons shall request inclusion in any
registration pursuant to Section 2.1, the Initiating Holders shall, on behalf of all Holders, offer to include such securities in the underwriting and such offer shall be conditioned upon the participation of the Company or
such other persons in such underwriting and the inclusion of the Company’s and such person’s other securities of the Company and their acceptance of the further applicable provisions of this Section 2 (including
Section 2.10). The Company shall select the underwriters (subject to the consent of the Initiating Holders holding a majority of Registrable Securities to be included in such underwriting, which such approval shall not be
unreasonably withheld or delayed) and (together with all Holders proposing to distribute their securities through such underwriting) enter into an underwriting agreement in customary form with the representative of the underwriter or underwriters
selected for such underwriting. 
 Notwithstanding any other provision of this Section 2.1, if the underwriters
advise the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, the number of Registrable Securities that may be so included shall be allocated as follows: (i) first, among all
Holders requesting to include Registrable Securities in such registration statement based on the pro rata percentage of Registrable Securities held by such Holders; and (ii) second, to the Company, which the Company may allocate, at its
discretion, for its own account, or for the account of other holders or employees of the Company; provided, however, that the number of shares of Registrable Securities to be included in such underwriting shall not be reduced unless all other
securities are first entirely excluded from the underwriting. 
 If a person who has requested inclusion in such registration as provided
above does not agree to the terms of any such underwriting, such person shall be excluded therefrom by written notice from the Company, the underwriter or the Initiating Holders. The securities so excluded shall also be withdrawn from registration.
Any Registrable Securities or other securities excluded or withdrawn from such underwriting shall also be withdrawn from such registration. If shares are so withdrawn or excluded from 

  
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the registration and if the number of shares to be included in such registration was previously reduced as a result of marketing factors pursuant to this Section 2.1(d),
then the Company shall then offer to all Holders who have retained rights to include securities in the registration the right to include additional Registrable Securities in the registration in an aggregate amount equal to the number of shares so
withdrawn or excluded, with such shares to be allocated pro rata among such Holders requesting additional inclusion, as set forth above. 

2.2 Company Registration. 

(a) Company Registration. If the Company shall determine to register any of its securities either for its own account or the account of
a security holder or holders, other than a registration pursuant to Section 2.1 or 2.3, a registration relating solely to employee benefit plans, a registration relating to the offer and sale of debt securities, a
registration relating to a corporate reorganization or other Rule 145 transaction, or a registration on any registration form that does not permit secondary sales, the Company will: 

(i) promptly, and in any event within fifteen (15) days, give written notice of the proposed registration to all Holders; and 

(ii) use its commercially reasonable efforts to include in such registration (and any related qualification under blue sky laws or other
compliance), except as set forth in Section 2.2(b) below, and in any underwriting involved therein, all of such Registrable Securities as are specified in a written request or requests made by any Holder or Holders received
by the Company within ten (10) days after such written notice from the Company is mailed or delivered. Such written request may specify all or a part of a Holder’s Registrable Securities. 

(b) Underwriting. If the registration of which the Company gives notice is for a registered public offering involving an underwriting,
the Company shall so advise the Holders as a part of the written notice given pursuant to Section 2.2(a)(i). In such event, the right of any Holder to registration pursuant to this Section 2.2
shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities
through such underwriting shall (together with the Company and the other holders of securities of the Company with registration rights to participate therein distributing their securities through such underwriting) enter into an underwriting
agreement in customary form with the representative of the underwriter or underwriters selected by the Company. 
 Notwithstanding any other
provision of this Section 2.2, if the underwriters advise the Company that marketing factors require a limitation on the number of shares to be underwritten, the underwriters may (subject to the limitations set forth below)
exclude all Registrable Securities from, or limit the number of Registrable Securities to be included in, the registration and underwriting; provided that the foregoing limitation may only be applied after the Company has excluded from such
registration all securities held by holders other than holders of Registrable Securities that the Company intends to include in such registration; and provided further following the Company’s Initial Public Offering, the number of Registrable
Securities to be included in any such registration shall not be reduced below twenty percent (20%) of the number of shares to be underwritten. The Company shall so advise all holders of securities requesting registration, and the number of shares of
securities that are entitled to be included in the registration and underwriting shall be allocated, as follows: (i) first, to the Company for securities being sold for its own account and (ii) second, to the Holders requesting to include
Registrable Securities in such registration statement based on the pro rata percentage of Registrable Securities held by such Holders. 

  
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 If a person who has requested inclusion in such registration as provided above does not
agree to the terms of any such underwriting, such person shall also be excluded therefrom by written notice from the Company or the underwriter. The Registrable Securities or other securities so excluded shall also be withdrawn from such
registration. Any Registrable Securities or other securities excluded or withdrawn from such underwriting shall be withdrawn from such registration. 

If shares are so withdrawn or excluded from the registration and if the number of shares of Registrable Securities to be included in such
registration was previously reduced as a result of marketing factors, the Company shall use its commercially reasonable efforts to offer to all persons who have retained the right to include securities in such registration the right to include
additional securities in the next registration in an aggregate amount equal to the number of shares so withdrawn or excluded, with such shares to be allocated pro rata among the persons requesting additional inclusion in accordance with
Section 2.2 hereof. 
 (c) Right to Terminate Registration. The Company shall have the right to terminate
or withdraw any registration initiated by it under this Section 2.2 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration. The Registration Expenses
of such withdrawn registration shall be borne by the Company in accordance with Section 2.4 hereof. 
 2.3
Registration on Form S-3. 
 (a) Request for Form
S-3 Registration. The Company shall use its best efforts to qualify for registration on Form S-3 or any comparable or similar short form registration statement or
successor form or forms (“Form S-3”) after its Initial Public Offering. After the Company has qualified for the use of Form S-3, in addition to the
rights contained in the foregoing provisions of this Section 2 and subject to the conditions set forth in this Section 2.3, if the Company shall receive from Holders of not less than ten percent
(10%) of the Registrable Securities a written request that the Company effect any registration on Form S-3 with respect to all or part of the Registrable Securities (such request shall state the number of
shares of Registrable Securities to be disposed of and the intended methods of disposition of such shares by such Holders), the Company will take all such action with respect to such Registrable Securities as required by
Section 2.1(a)(i) and (ii). 
 (b) Limitations on Form S-3
Registration. The Company shall not be obligated to effect, or take any action to effect, any such registration pursuant to this Section 2.3: 

(i) In the circumstances described in either Sections 2.1(b)(i), 2.1(b)(iii) or 2.1(b)(v); 

(ii) If the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to
sell Registrable Securities and such other securities (if any) on Form S-3 at an aggregate price to the public of less than one million U.S. dollars ($1,000,000); or 

(iii) If, in a given six (6) month period, the Company has effected one (1) such registration in such period. 

(c) Deferral. If (i) in the good faith judgment of the Board of Directors of the Company, the filing of a registration statement
on Form S-3 covering the Registrable Securities would be detrimental to the Company and its shareholders and the Board of Directors of the Company concludes, as a result, that it is in the best interests of
the Company to defer the filing of such registration statement on Form S-3 at such time, and (ii) the Company shall furnish to such Holders a certificate signed by the

  
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President of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be detrimental to the Company and its shareholders for such registration
statement to be filed in the near future and that it is, therefore, in the best interests of the Company to defer the filing of such registration statement on Form S-3, then (in addition to the limitations set
forth in Section 2.1(b)(v) above) the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders, and, provided further, that
the Company shall not defer its obligation in this manner more than once in any twelve (12) month period. 
 (d) Underwriting.
If the Holders of Registrable Securities requesting registration under this Section 2.3 intend to distribute the Registrable Securities covered by their request by means of an underwriting, the provisions of Sections
2.1(e) shall apply to such registration. Notwithstanding anything contained herein to the contrary, registrations effected pursuant to this Section 2.3 shall not be counted as requests for registration or registrations
effected pursuant to Section 2.1. 
 2.4 Expenses of Registration. All Registration Expenses incurred in
connection with registrations pursuant to Sections 2.1, 2.2 and 2.3 hereof shall be borne by the Company; provided, however, that the Company shall not be required to pay for any expenses of any registration proceeding begun
pursuant to Sections 2.1 and 2.3 if (i) the withdrawal of such registration proceeding is based upon material adverse information concerning the Company which was made known to the Holders requesting registration by the Company at
the time of such request or (ii) the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered or because a sufficient number of Holders shall have withdrawn so
that the minimum offering conditions set forth in Sections 2.1 and 2.3 are no longer satisfied (in which case all participating Holders shall bear such expenses pro rata among each other based on the number of Registrable Securities requested to be
so registered), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to a demand registration pursuant to Section 2.1 (in which case such Registration Expenses shall be borne by the
Company). All Selling Expenses relating to securities registered on behalf of the Holders shall be borne by the holders of securities included in such registration pro rata on the basis of the number of Registrable Securities registered by the
applicable Holders. 
 2.5 Registration Procedures. In the case of each registration effected by the Company pursuant to
Section 2, the Company will keep each Holder advised in writing as to the initiation of each registration and as to the completion thereof. At its expense, the Company will use its commercially reasonable efforts to: 

(a) Keep such registration effective for a period ending on the earlier of the date which is ninety (90) days from the effective date of
the registration statement or such time as the Holder or Holders have completed the distribution described in the registration statement relating thereto; provided, however, that such ninety (90) day period shall be extended for a period of
time equal to the period the Holder agrees to refrain from selling any securities included in such registration at the request of the Company or an underwriter of Common Stock of the Company; 

(b) Prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection
with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement for the period set forth in subsection (a) above;

 (c) Furnish such number of prospectuses, including any preliminary prospectuses, and other documents incident thereto, including any
amendment of or supplement to the prospectus, as a Holder from time to time may reasonably request; 

  
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 (d) Use its reasonable best efforts to register and qualify the securities covered by such
registration statement under such other securities or Blue Sky laws of such jurisdiction as shall be reasonably requested by the Holders; provided, that the Company shall not be required in connection therewith or as a condition thereto to qualify
to do business or to file a general consent to service of process in any such states or jurisdictions; 
 (e) Notify each seller of
Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such
registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in light of the
circumstances then existing, and following such notification promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the
purchasers of such shares, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in light of
the circumstances then existing; 
 (f) Provide a transfer agent and registrar for all Registrable Securities registered pursuant to such
registration statement and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; 

(g) Cause all such Registrable Securities registered pursuant hereunder to be listed on each securities exchange or nationally recognized
quotation system on which similar securities issued by the Company are then listed or quoted; 
 (h) In connection with any underwritten
offering pursuant to a registration statement filed pursuant to Section 2.1 and, if applicable, Section 2.3 hereof, enter into an underwriting agreement in form reasonably necessary to effect the
offer and sale of Common Stock, provided such underwriting agreement contains reasonable and customary provisions and that the Holders participating in such underwriting are presented an opportunity to review and comment on such underwriting
agreement, and provided further, that each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement; and 

(i) Furnish, at the request of the Holders of at least five hundred thousand (500,000) shares of Registrable Securities (as adjusted for stock
splits, stock dividends, reverse stock splits, stock combinations or other similar capitalization changes) requesting registration of Registrable Securities pursuant to this Section 2, on the date that such Registrable
Securities are delivered to the underwriters for sale in connection with a registration pursuant to this Section 2, if such securities are being sold through underwriters, (i) an opinion, dated such date, of the
counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting
registration of Registrable Securities and (ii) a letter dated such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to
underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities. 

2.6 Indemnification. In the event that any Registrable Securities are included in a registration statement pursuant to Sections
2.1, 2.2 or 2.3 hereof: 
 (a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder,
each of its officers, directors and partners, legal counsel, and accountants and each person 

  
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controlling such Holder within the meaning of Section 15 of the Securities Act, with respect to which registration, qualification, or compliance has been effected pursuant to this
Section 2, and each underwriter, if any, and each person who controls within the meaning of Section 15 of the Securities Act any underwriter, against all expenses, claims, losses, damages, and liabilities (or actions,
proceedings, or settlements in respect thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained or incorporated by reference in any prospectus, offering circular, or other document
(including any related registration statement, notification, or the like) incident to any such registration, qualification, or compliance, (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, or (iii) any violation (or alleged violation) by the Company of the Securities Act, the Exchange Act, any state securities laws or any rule or regulation thereunder applicable to the
Company and relating to action or inaction required of the Company in connection with any offering covered by such registration, qualification, or compliance (a “Violation”), and the Company will reimburse each such Holder, each of
its officers, directors, partners, legal counsel, and accountants and each person controlling such Holder, each such underwriter, and each person who controls any such underwriter, for any legal and any other expenses reasonably incurred in
connection with investigating and defending or settling any such claim, loss, damage, liability, or action; provided that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability, or action arises
out of or is based on any untrue statement or omission based directly upon written information furnished to the Company by such Holder, any of such Holder’s officers, directors, partners, legal counsel or accountants, any person controlling
such Holder, such underwriter or any person who controls any such underwriter and stated to be specifically for use therein; and provided, further that, the indemnity agreement contained in this Section 2.6(a) shall not
apply to amounts paid in settlement of any such loss, claim, damage, liability, or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld or delayed). 

(b) To the extent permitted by law, each Holder will, if Registrable Securities held by such Holder are included in the securities as to which
such registration, qualification, or compliance is being effected, indemnify and hold harmless the Company, each of its directors, officers, partners, legal counsel, and accountants and each underwriter, if any, of the Company’s securities
covered by such a registration statement, each person who controls the Company or such underwriter within the meaning of Section 15 of the Securities Act, each other such other Holder, and each of their officers, directors, and partners, and
each person controlling such other Holder, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained or
incorporated by reference in any such registration statement, prospectus, offering circular, or other document, or (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, and will reimburse the Company and such Holders, directors, officers, partners, legal counsel, and accountants, persons, underwriters, or control persons for any legal or any other expenses reasonably incurred in
connection with investigating or defending any such claim, loss, damage, liability, or action, in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in
such registration statement, prospectus, offering circular, or other document in reliance upon and in conformity with written information furnished to the Company by such Holder and stated to be specifically for use therein; provided, however, that
the obligations of such Holder hereunder shall not apply to amounts paid in settlement of any such claims, losses, damages, or liabilities (or actions in respect thereof) if such settlement is effected without the consent of such Holder (which
consent shall not be unreasonably withheld or delayed); and provided that in no event shall any indemnity under this Section 2.6 exceed the net proceeds from the offering received by such Holder. 

(c) Each party entitled to indemnification under this Section 2.6 (the “Indemnified Party”) shall
give notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be

  
 -10- 

 
sought, and shall permit the Indemnifying Party to assume the defense of such claim or any litigation resulting therefrom; provided that counsel for the Indemnifying Party, who shall
conduct the defense of such claim or any litigation resulting therefrom, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld or delayed), and the Indemnified Party may participate in such defense at such
party’s expense; and provided further that the failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Section 2.6, to the
extent such failure is not prejudicial. No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement that does not
include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. Each Indemnified Party shall furnish such information regarding itself
or the claim in question as an Indemnifying Party may reasonably request in writing and as shall be reasonably required in connection with defense of such claim and litigation resulting therefrom. 

(d) If the indemnification provided for in this Section 2.6 is held by a court of competent jurisdiction to be
unavailable to an Indemnified Party with respect to any loss, liability, claim, damage, or expense referred to herein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party hereunder, shall contribute to the amount paid or
payable by such Indemnified Party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one hand and of the Indemnified Party on the other
in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the Indemnifying Party and of the Indemnified Party shall
be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the Indemnifying Party or by the Indemnified Party and
the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and equitable if contribution pursuant to this
Section 2.6(d) were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding sentence. Notwithstanding
the provision of this Section 2.6(d), an Indemnifying Party that is a selling Holder of Registrable Securities shall not be required to contribute any amount in excess of the amount by which the total price at which the
Registrable Securities sold by such Indemnifying Party exceeds the amount of any damages that such Indemnifying Party has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person
found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) by a court of competent jurisdiction shall be entitled to contribution from any Person who was not found guilty of such fraudulent
misrepresentation by a court of competent jurisdiction. 
 (e) Notwithstanding the foregoing, to the extent that the provisions on
indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 

2.7 Information by Holder. Each Holder of Registrable Securities shall furnish to the Company such information regarding such Holder
and the distribution proposed by such Holder as the Company may reasonably request in writing and as shall be reasonably required in connection with any registration, qualification, or compliance referred to in this
Section 2. 
 2.8 Restrictions on Transfer. 

(a) Each holder of Company securities party to this Agreement (each, a “Securityholder”), by acceptance thereof agrees to
comply in all respects with the provisions of this 

  
 -11- 

 
Section 2.8. Each Securityholder agrees not to make any sale, assignment, transfer, pledge or other disposition of all or any Company securities, or any beneficial
interest therein, unless and until (x) the transferee thereof has agreed in writing for the benefit of the Company to take and hold such securities subject to, and to be bound by, the terms and conditions set forth in this Agreement, including,
without limitation, this Section 2.8 and Section 2.10, except for transfers permitted under Section 2.8(b), and (y): 

(i) There is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made
in accordance with such registration statement; or 
 (ii) Such Securityholder shall have given prior written notice to the Company of such
Securityholder’ s intention to make such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition, and, such Securityholder shall have furnished the Company, at its
expense, with (i) an opinion of counsel, reasonably satisfactory to the Company, to the effect that such disposition will not require registration of such securities under the Securities Act or (ii) a “no action” letter from the
Commission to the effect that the transfer of such securities without registration will not result in a recommendation by the staff of the Commission that action be taken with respect thereto, whereupon the Securityholder shall be entitled to
transfer such securities in accordance with the terms of the notice delivered by the Securityholder to the Company. 
 (b) Permitted
transfers include (i) a transfer not involving a change in beneficial ownership, or (ii) in transactions involving the distribution of securities by any Securityholder to (x) a parent, subsidiary or other affiliate of the
Securityholder that is a corporation, or (y) any of its partners, members or other equity owners, or retired partners, retired members or other equity owners, or to the estate of any of its partners, members or other equity owners or retired
partners, retired members or other equity owners, (iii) transfers without consideration in connection with a liquidation, dissolution or winding up of a Securityholder, or (iv) transfers in compliance with Rule 144, as long as the Company
is furnished with satisfactory evidence of compliance with such Rule; provided, in each case, that the Securityholder thereof shall give written notice to the Company of such Securityholder’s intention to effect such disposition and shall have
furnished the Company with a detailed description of the manner and circumstances of the proposed disposition. 
 (c) Each certificate
representing securities held by a Securityholder shall (unless otherwise permitted by the provisions of this Agreement) be stamped or otherwise imprinted with a legend substantially similar to the following (in addition to any legend required under
applicable state securities laws): 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS
PURSUANT TO REGISTRATION OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY
APPLICABLE STATE SECURITIES LAWS. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO (1) RESTRICTIONS ON TRANSFERABILITY AND
RESALE, INCLUDING A LOCK-UP PERIOD IN THE EVENT OF A PUBLIC OFFERING, AS SET FORTH IN AN INVESTORS’ RIGHTS AGREEMENT, AND (2) VOTING RESTRICTIONS AS SET FORTH IN A VOTING AGREEMENT AMONG THE COMPANY
AND THE ORIGINAL HOLDERS OF THESE SHARES, COPIES OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE COMPANY. 

  
 -12- 

 Each Securityholder consents to the Company making a notation on its records and g1vmg
instructions to any transfer agent of such Securityholder’s securities in order to implement the restrictions on transfer established in this Section 2.8. 

(d) The first legend referring to federal and state securities laws identified in Section 2.8(c) hereof stamped on a
certificate evidencing the securities held by Securityholders and the stock transfer instructions and record notations with respect to such securities shall be removed and the Company shall issue a certificate without such legend to the holder of
such securities if (i) such securities are registered under the Securities Act, or (ii) such holder provides the Company with an opinion of counsel reasonably acceptable to the Company to the effect that a public sale or transfer of such
securities may be made without registration under the Securities Act, or (iii) such holder provides the Company with reasonable assurances, which may, at the option of the Company, include an opinion of counsel satisfactory to the Company, that
such securities can be sold pursuant to Rule 144 under the Securities Act. 
 2.9 Rule 144 Reporting. With a view to making available
the benefits of certain rules and regulations of the Commission that may permit the sale of the Restricted Securities to the public without registration, the Company agrees to use its reasonable best efforts to: 

(a) Make and keep public information regarding the Company available as those terms are understood and defined in Rule 144 under the Securities
Act, at all times from and after ninety (90) days following the effective date of the first registration under the Securities Act filed by the Company for an offering of its securities to the general public; 

(b) File with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the
Exchange Act at any time after it has become subject to such reporting requirements; and 
 (c) So long as a Holder owns any Restricted
Securities, furnish to the Holder forthwith upon written request a written statement by the Company as to its compliance with the reporting requirements of Rule 144 (at any time from and after ninety (90) days following the effective date of
the first registration statement filed by the Company for an offering of its securities to the general public), and of the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), a copy of the
most recent annual or quarterly report of the Company, and such other reports and documents so filed as a Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing a Holder to sell any such securities
without registration. 
 2.10 Market Stand-Off Agreement. Each Securityholder hereby agrees
that such Securityholder shall not sell or otherwise transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, of any Common Stock (or other
securities) of the Company held by such Securityholder (other than those included in the registration), during the period beginning on the date the Company files a registration statement to effect the Company’s Initial Public Offering and
ending one hundred eighty (180) days following the effective date of the Company’s Initial Public Offering filed under the Securities Act (or such longer period of time as may be required to accommodate regulatory restrictions on
(x) the publication or other distribution of research reports and (y) analyst recommendations and opinions, including, but not limited to, the restrictions contained in FINRA Rule 2711 (f)(4) or NYSE Rule 472(f)(4), as applicable, (or any
successor rules or 

  
 -13- 

 
amendments thereto)) (the “Market Standoff Period”); provided, however, that such agreement shall only be applicable if all officers, directors and holders of at least one
percent (1%) of the outstanding capital stock of the Company are similarly bound; and provided, further, if the Company or the underwriters shall release any Registrable Securities or any other securities (the “Released Securities”)
from the requirements of this Section 2.10 before the end of the period set by the Company or the underwriters, then the Registrable Securities of each Holder shall be released from the provisions of this
Section 2.10 in the same proportion as the Released Securities bear to the total number of securities held by such Holder which were subject to this Section 2.10. The obligations described in this
Section 2.10 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be
promulgated in the future, or a registration relating solely to a Rule 145 transaction. The Company may impose stop-transfer instructions and may stamp each such certificate with the second legend set forth in
Section 2.8(c) hereof with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of the Market Standoff Period. Each Securityholder agrees to execute a market
standoff agreement with said underwriters in customary form consistent with the provisions of this Section 2.10. 

2.11 Delay of Registration. No Holder shall have any right to take any action to restrain, enjoin, or otherwise delay any registration
as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

2.12 Transfer or Assignment of Registration Rights. The rights to cause the Company to register securities granted to a Holder by the
Company under this Section 2 may be transferred or assigned by a Holder only to a transferee or assignee of not less than two hundred thousand (200,000) shares of Registrable Securities (as presently constituted and subject
to subsequent adjustments for stock splits, stock dividends, reverse stock splits, and the like); provided that (i) such transfer or assignment of Registrable Securities is effected in accordance with the terms of
Section 2.8 hereof, the Right of First Refusal and Co-Sale Agreement, and applicable securities laws, (ii) the Company is given prompt written notice of such transfer or
assignment, stating the name and address of the transferee or assignee and identifying the securities with respect to which such registration rights have been transferred or assigned and (iii) the transferee or assignee of such rights assumes
in writing the obligations of such Holder under this Agreement, including without limitation the obligations set forth in Section 2.10. 

2.13 Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without the prior
written consent of Holders of at least a majority of the Registrable Securities, enter into any agreement with any holder or prospective holder of any securities of the Company giving such holder or prospective holder any registration rights the
terms of which are senior to the registration rights granted to the Holders hereunder. 
 2.14 Termination of Registration Rights.
The right of any Holder to request registration or inclusion in any registration pursuant to Section 2.1, 2.2 or 2.3 shall terminate on the earliest of (i) such date, on or after the closing of the
Company’s Initial Public Offering, on which all shares of Registrable Securities held or entitled to be held upon conversion by such Holder may immediately be sold pursuant Rule 144 under the Securities Act during any ninety (90)-day period, (ii) four (4) years after the closing of the Company’s Initial Public Offering or (iii) nine (9) years after the closing of the Company’s Initial Public Offering for
“affiliates” (as such term is defined in Rule 144 under the Securities Act). 

  
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 Section 3 

Covenants of the Company 

The Company hereby covenants and agrees, as follows: 

3.1 Information Rights. 

(a) Basic Financial Information. The Company will furnish the following reports to each Preferred Holder who owns at least one million
(1,000,000) shares of Preferred Stock (as presently constituted and subject to subsequent adjustments for stock splits, stock dividends, reverse stock splits, and the like) (a “Major Investor”); provided that all shares of Preferred
Stock held or acquired by “affiliates” (as such term is defined in Rule 144 under the Securities Act) of a Preferred Holder shall be aggregated together with the shares of Preferred Stock held by such Preferred Holder for the purpose of
determining the availability of any rights under this Section 3: 
 (i) As soon as practicable after the end of each fiscal year of the
Company, and in any event within ninety (90) days after the end of each fiscal year of the Company, an audited consolidated balance sheet of the Company and its subsidiaries, if any, as at the end of such fiscal year, and audited consolidated
statements of income and cash flows of the Company and its subsidiaries, if any, for such year, prepared in accordance with U.S. generally accepted accounting principles consistently applied, certified by independent public accountants of recognized
national standing selected by the Board of Directors of the Company. 
 (ii) As soon as practicable after the end of the first, second and
third quarterly accounting periods in each fiscal year of the Company, and in any event within thirty (30) days after the end of the first, second, and third quarterly accounting periods in each fiscal year of the Company, an unaudited
consolidated balance sheet of the Company and its subsidiaries, if any, as of the end of each such quarterly period, and unaudited consolidated statements of income and cash flows of the Company and its subsidiaries, if any, for such period,
prepared in accordance with U.S. generally accepted accounting principles consistently applied, subject to changes resulting from normal year-end audit adjustments. 

(iii) A soon as practicable after the end of each calendar month (excluding those months wherein the Major Investor will receive financial
information pursuant to Sections 3.1(a)(i) and (ii) above) in each fiscal year of the Company, and in any event within ten (10) business days after the end of each calendar month in each fiscal year of the Company, an
unaudited consolidated balance sheet of the Company and its subsidiaries, if any, as of the end of such calendar month, and unaudited consolidated statements of income and cash flows of the Company and its subsidiaries, if any, for such calendar
month, prepared in accordance with U.S. generally accepted accounting principles consistently applied, subject to changes resulting from normal year-end audit adjustments. 

(b) Annual Budget. The Company shall furnish the annual budget for a particular fiscal year to each Major Investor on the earlier of
(i) thirty (30) days prior to the beginning of a fiscal year if such annual budget has been approved by the Board of Directors or (ii) within fifteen (15) days of the approval of such annual budget by the Company’s Board of
Directors. 
 (c) Notwithstanding anything else in this Subsection 3.1 to the contrary, the Company may cease providing the information set
forth in this Subsection 3.1 during the period starting with the date sixty (60) days before the Company’s good-faith estimate of the date of filing of a registration statement if it reasonably concludes it must do so to comply with the
SEC rules applicable to such registration statement and related offering; provided that the Company’s covenants under this Subsection 3.1 shall be reinstated at such time as the Company is no longer actively employing its commercially
reasonable efforts to cause such registration statement to become effective. 

  
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 (d) Inspection Rights. The Company shall permit each Major Investor to visit and
inspect the properties of the Company, to examine its corporate and financial records and make copies thereof and to discuss its affairs, finances, and accounts with its executive officers, at such reasonable times during normal business hours and
upon such reasonable notice of no less than three (3) business days; provided that (i) the Company consent to such inspection, which such consent shall not be unreasonably withheld and (ii) that such eligible Preferred Holder agrees
to abide by all Company policies, rules and regulations, including those regarding access to restricted areas on the Company’s properties and confidentiality. 

3.2 Confidentiality. Anything in this Agreement to the contrary notwithstanding, no Holder by reason of this Agreement shall have
access to any trade secrets or classified information of the Company. The Company shall not be required to comply with any information rights of Section 3 in respect of any Holder whom the Board of Directors of the Company
reasonably determines to be a competitor or an officer, employee, director or holder of more than ten percent (10%) of a competitor. Each Holder acknowledges that the information received by them pursuant to this Agreement may be confidential and
for its internal use only, and it will not use such confidential information in violation of the Exchange Act or reproduce, disclose or disseminate such information to any other person (other than its employees or agents having a need to know the
contents of such information, and its attorneys), except in connection with the exercise of rights under this Agreement, unless such information has become available to the public generally without any breach by the Holder of this
Section 3.2. 
 3.3 Reservation of Common Stock. On and after the date hereof, the Company will reserve and
keep reserved at all times sufficient shares of Common Stock for issuance upon conversion of the Shares. Immediately prior to the occurrence of any event that would cause the number of shares of Common Stock or type of securities into which the
Shares would be convertible to be adjusted, the Company shall take any and all actions necessary to permit such conversion. 
 3.4 Use of
Proceeds. The proceeds from the sale of the Series 6 Preferred pursuant to the Series 6 Purchase Agreement (the “Proceeds”) may be used by the Company for working capital, capital expenditures, sales and marketing and
research and development. 
 3.5 Protection of Intellectual Property. The Company shall use commercially reasonable efforts to
protect its proprietary intellectual property, trade secrets and know-how, including, but not limited to, (i) the keeping of proper laboratory notebooks, (ii) the use of secure storage, and
(iii) obtaining proprietary information and invention assignment agreements, which shall include appropriate confidentiality provisions, from all employees and consultants (excluding the members of the Company’s advisory board), upon the
commencement of their employment or service to the Company, in substantially the form delivered to the Investors, subject to amendments approved by the Company’s Board of Directors and which agreements shall be reviewed and renewed, if
necessary, on an annual basis as determined by the Board of Directors. 
 3.6 Observer Rights. So long as each of EW Healthcare
Partners Fund 2, L.P.and its affiliated entities (collectively, “EW”) and PTV IV, L.P. and its affiliated entities (collectively, “PTV”), individually and not collectively, hold shares of the Company’s capital
stock (each an “Investor with Observer Rights”), the Company covenants and agrees that each Investor with Observer Rights shall each be entitled to designate one observer (each an “Observer” and together, the
“Observers”). The Observers may be present at all meetings of the Board of Directors of the Company and any committees thereof, including any telephonic meetings and executive sessions, and that the Company will give such Observers
notice of 

  
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such meetings, by telecopy or by such other means as such notices are delivered to the members of the Board of Directors of the Company, not later than the same time notice is provided or
delivered to the Board of Directors of the Company; provided, that the Observers shall be subject to the confidentiality provisions set forth in Section 3.2 hereof; provided, further, that the Observers may be
excluded from access to any material or meeting or portion thereof (i) if the Company believes upon advice of counsel that such exclusion is reasonably necessary to preserve the attorney-client privilege, (ii) to protect confidential or
proprietary information or (iii) for other similar reasons. For purposes of clarity, nothing herein shall be construed to mean that in the event that EW or PTV is no longer an Investor with Observer Rights, that any other Investors with
Observer Rights shall lose their right pursuant to this Section 3.6 to designate an Observer. 
 3.7
Termination of Covenants. The covenants set forth in this Section 3 shall terminate and be of no further force and effect with respect to the earliest to occur of (i) the Company’s Initial Public Offering,
(ii) the date on which this Agreement is terminated by a writing executed by (A) Holders party to this Agreement holding at least a majority of the shares of Preferred Stock (voting together as a single class) then held by all such Holders
and (B) Holders party to this Agreement holding at least a majority of the shares of Series 6 Preferred Stock (voting together as a single class) then held by all such Holders, (iii) the dissolution or
winding-up of the Company, or (iv) immediately prior to the effective date of a Change of Control. 

Section 4 
 Right
of First Refusal 
 4.1 Right of First Refusal. The Company hereby grants to each Preferred Holder the right of first refusal
to purchase its pro rata share of New Securities (as defined in Section 4.1(a)) which the Company may, from time to time, propose to sell and issue after the date of this Agreement. A Preferred Holder’s pro rata share,
for purposes of Section 4, is equal to the ratio of (a) the number of shares of Common Stock owned by such Preferred Holder immediately prior to the issuance of New Securities (assuming full conversion of the Shares
and exercise of all outstanding convertible securities, rights, options and warrants, directly or indirectly, into Common Stock held by said Preferred Holder) to (b) the total number of shares of Common Stock outstanding immediately prior to
the issuance of New Securities (assuming full conversion of the Shares and exercise of all outstanding convertible securities, rights, options and warrants, directly or indirectly, held by all Preferred Holders). 

(a) “New Securities” shall mean any capital stock (including Common Stock and/or Preferred Stock) of the Company whether now
authorized or not, and rights, convertible securities, options or warrants to purchase such capital stock, and securities of any type whatsoever that are, or may become, exercisable or convertible into capital stock; provided that the term
“New Securities” does not include securities excluded from the definition of “Additional Shares of Common” pursuant to Article FOURTH, Subsection 4(d)(i) of the Amended and Restated Certificate of Incorporation of the
Company. 
 (b) In the event the Company proposes to undertake an issuance of New Securities, it shall give each Preferred Holder written
notice of its intention, describing the type of New Securities, and their price and the general terms upon which the Company proposes to issue the same. Each Preferred Holder shall have ten (10) days after any such notice is mailed or delivered
to agree to purchase such Preferred Holder’s pro rata share of such New Securities for the price and upon the terms specified in the notice by giving written notice to the Company and stating therein the quantity of New Securities to be
purchased. 
 (c) In the event the Preferred Holders fail to exercise fully the right of first refusal within said ten (10) day period
(the “Election Period”), the Company shall have ninety (90) days thereafter 

  
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to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within ninety (90) days from the date of said agreement) to sell
that portion of the New Securities with respect to which the Preferred Holders’ right of first refusal option set forth in this Section 4.1 was not exercised, at a price and upon terms no more favorable to the
purchasers thereof than specified in the Company’s notice to the Preferred Holders delivered pursuant to Section 4.1(b). In the event the Company has not sold within the later of such ninety (90) day period
following the end of the Election Period, or such ninety (90) day period following the date of said agreement, the Company shall not thereafter issue or sell any New Securities, without first again offering such securities to the Preferred
Holders in the manner provided in this Section 4.1. 
 (d) The right of first refusal granted under this Agreement
shall expire upon, and shall not be applicable to, the Company’s Initial Public Offering. 
 Section 5 

Miscellaneous 
 5.1
Amendment. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument referencing this Agreement and signed by (i) the Company,
(ii) Holders party to this Agreement holding at least a majority of the shares of Registrable Securities (excluding any of such shares that have been sold to the public or pursuant to Rule 144) then held by all such Holders and (iii) if
the waiver, amendment, modification or termination adversely affects the rights or privileges of the Series 6 Preferred Stock or grants any rights or privileges to the Series 3 Preferred Stock, Series 4 Preferred Stock or Series 5 Preferred Stock
not also afforded to the Series 6 Preferred Stock, then Holders party to this Agreement holding at least a majority of the shares of Series 6 Preferred Stock then held by all such Holders; provided, however, that Holders purchasing shares of Series
6 Preferred Stock after the date of this Agreement may become parties to this Agreement by executing a counterpart of this Agreement without any amendment of this Agreement pursuant to this paragraph or any consent or approval of any other Holder.
Any such amendment, waiver, discharge or termination effected in accordance with this paragraph shall be binding upon each Holder and each future holder of all such securities of Holder. Notwithstanding the foregoing, this Agreement may not be
amended, waived, discharged or terminated with respect to any Holder party to this Agreement without the written consent of such Holder unless such waiver, amendment, modification or termination applies to all Holders party to this Agreement in the
same fashion, it being agreed that an amendment, modification, termination, or waiver shall be deemed to apply to all Holders, respectively, in the same fashion if such amendment, modification, termination, or waiver does so by its terms,
notwithstanding the fact that certain Holders may nonetheless receive different economics solely because of differences in dividend yields, liquidation preferences, anti-dilution adjustments or conversion rights among different classes of capital
stock of the Company as set forth in the Company’s Amended and Restated Certificate of Incorporation. 
 5.2 Notices. All
notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid, sent by facsimile or electronic mail or otherwise delivered by hand or by messenger addressed:

 (a) if to any holder of the capital stock of the Company at such holder’s address, facsimile number or electronic mail address as
shown in the Company’s records, as may be updated in accordance with the provisions hereof; 
 (b) if to any Holder, at such address,
facsimile number or electronic mail address as shown in the Company’s records, or, until any such holder so furnishes an address, facsimile number or electronic mail address to the Company, then to and at the address of the last holder of such
shares for which the Company has contact information in its records; or 

  
 -18- 

 (c) if to the Company, one copy should be sent to Attn: Chief Executive Officer, 1615 Wyatt
Drive, Santa Clara, CA 95054, fax number: (650) 964-8911, or at such other address as the Company shall have furnished to the Investors, with a copy (which shall not constitute notice) to Mark Weeks, Cooley
LLP, 3175 Hanover St, Palo Alto, CA 94304, fax number (650) 849-7400, electronic mail address: mweeks@cooley.com; or 

Each such notice or other communication shall for all purposes of this Agreement be treated as effective or having been given when delivered
if delivered personally, or, if sent by mail, at the earlier of its receipt or seventy-two (72) hours after the same has been deposited in a regularly maintained receptacle for the deposit of the United
States mail, addressed and mailed as aforesaid or, if sent by fax, upon confirmation of fax transfer or, if sent by electronic mail, upon confirmation of delivery when directed to the e- mail address set forth
on the Schedule of Investors. 
 5.3 Governing Law. This Agreement and all acts and transactions pursuant hereto and the rights and
obligations of the parties hereto shall be governed, construed and interpreted in all respects in accordance with the General Corporation Law of the State of Delaware as to matters governed by such General Corporation Law, and as to all other
matters in accordance with the laws of the State of Delaware without regard to its choice of laws principles. 
 5.4 Successors and
Assigns. Except as provided in Section 2.8, this Agreement, and any and all rights, duties and obligations hereunder, shall not be assigned, transferred, delegated or sublicensed by any Holder without the prior written
consent of the Company. Any attempt by a Holder without such permission to assign, transfer, delegate or sublicense any rights, duties or obligations that arise under this Agreement shall be void. Subject to the foregoing and except as otherwise
provided herein, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto. 

5.5 Entire Agreement. This Agreement and the exhibits hereto constitute the full and entire understanding and agreement between the
parties with regard to the subjects hereof. No party hereto shall be liable or bound to any other party in any manner with regard to the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth
herein. 
 5.6 Delays or Omissions. Except as expressly provided herein, no delay or omission to exercise any right, power or remedy
accruing to any party to this Agreement upon any breach or default of any other party under this Agreement shall impair any such right, power or remedy of such non-defaulting party, nor shall it be construed
to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default
theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of
this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party to this Agreement, shall be cumulative and
not alternative. 
 5.7 Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law,
the parties agree to renegotiate such provision in good faith so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally
contemplated to the greatest extent possible. In the 

  
 -19- 

 
event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (a) such provision shall be excluded from this Agreement, (b) the balance
of the Agreement shall be interpreted as if such provision were so excluded and (c) the balance of the Agreement shall be enforceable in accordance with its terms; provided that no such severability shall be effective if it materially changes
the economic benefit of this Agreement to any party or deprive such party of its essential bargain hereunder. 
 5.8 Titles and
Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. All references in this Agreement to sections, paragraphs and exhibits shall,
unless otherwise provided, refer to sections and paragraphs hereof and exhibits attached hereto. 
 5.9 Counterparts. This Agreement
may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any
electronic signature complying with the U.S. federal ESIGN Act of 2000, the Uniform Electronic Transactions Act or other applicable law) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly
delivered and be valid and effective for all purposes. 
 5.10 Jurisdiction; Venue. With respect to any disputes arising out of or
related to this Agreement, the parties consent to the sole and exclusive jurisdiction of, and venue in, the state courts in Santa Clara County in the State of California (or in the event of sole and exclusive federal jurisdiction, the courts of the
Northern District of California). 
 5.11 Further Assurances. Each party hereto agrees to execute and deliver, by the proper exercise
of its corporate, limited liability company, partnership or other powers, all such other and additional instruments and documents and do all such other acts and things as may be reasonably necessary to more fully effectuate this Agreement. 

5.12 Attorneys’ Fees. In the event that any suit or action is instituted to enforce any provision in this Agreement,
the prevailing party in such dispute shall be entitled to recover from the losing party such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. 

5.13 Aggregation of Stock. All shares of Registrable Securities held or acquired by affiliated persons or entities of a Holder shall be
aggregated together for the purpose of determining the availability of any rights under this Agreement. 
 5.14 Amendment and Restatement
of the Prior Rights Agreement. By execution of this Agreement, the Company and the undersigned Holders hereby amend and restate the Prior Rights Agreement as set forth herein. 

(Signature Page Follows) 

  
 -20- 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 COMPANY:
  

CARDIVA MEDICAL, INC. 
 a Delaware
corporation

		
	By:	 	 /s/ John Russell 

		
	Name:	 	 John Russell 

		
	Title:	 	Chief Executive Officer

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:
  

EW HEALTHCARE PARTNERS FUND 2, L.P. 

		
	By:	 	 EW Healthcare Partners Fund 2-GP, L.P. 

	 Its:
	 	 General Partner 

		 	
	By:	 	EW Healthcare Partners Fund 2-UGP, LLC
	Its:	 	General Partner
		 	
	By:	 	/s/ R. Scott Barry
		
	Name:	 	R. Scott Barry
		
	Title:	 	Authorized Signatory

  

			
	 EW HEALTHCARE PARTNERS FUND 2-A, L.P. 

		
	By:	 	 EW Healthcare Partners Fund 2-GP, L.P.

	 Its:
	 	 General Partner

		 	
	By:	 	EW Healthcare Partners Fund 2-UGP, LLC
	Its:	 	General Partner
		 	
	By:	 	/s/ R. Scott Barry
		
	Name:	 	R. Scott Barry
		
	Title:	 	Authorized Signatory

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:
  

PTV SCIENCES II, L.P.

		
	By:	 	 Pinto Technology Ventures GP II, LP, 

	 its
	 	 General Partner

		 	
	By:	 	 Pinto TV GP Company LLC, 

	its	 	General Partner
		 	
	By:	 	 /s/ Matthew Crawford 

		
	Name:	 	 Matthew Crawford 

		
	Title:	 	 Managing Director 

  

			
	 PTV IV, L.P. 

		
	By:	 	 PTV GP IV L.P., 

	 its
	 	 General Partner

		 	
	By:	 	 PTV GP III Management LLC, 

	its	 	General Partner
		 	
	By:	 	 /s/ Matthew Crawford

		
	Name:	 	 Matthew Crawford

		
	Title:	 	 Managing Director

  

			
	 PTV CM SPV, LLC 

		
	By:	 	 PTV CM SPV, LLC, 

	 its
	 	 General Partner

		 	
	By:	 	 PTV GP III Management LLC, 

	its	 	General Partner
		 	
	By:	 	 /s/ Matthew Crawford

		
	Name:	 	 Matthew Crawford

		
	Title:	 	 Managing Director

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	/s/ Francisco F. Rodriguez
	(Signature)
	
	RIND, LTD.
	(Name of Holder)
	
	Francisco F. Rodriguez, Director
	(Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Michael Bornitz 

	(Signature)
	
	 301 CARDIVA PARTNERS, LLC 

	(Name of Holder)
	
	 Michael Bornitz Manager 

	 (Name and Title of Signatory, if Applicable) 

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Augustine Lien 

	(Signature)
	
	 THE LIEN FAMILY LIVING TRUST, DATED MARCH 5, 2003 

	(Name of Holder)
	
	 Augustine Lien 

	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Fu Lung-Shu
                June 22, 2020 

	(Signature)
	
	 JACK INVESTMENT CO., LTD. 

	(Name of Holder)
	
	 Fu Lung-Shu, CEO 

	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Ping Liu 

	(Signature)
	
	 PING LIU 

	(Name of Holder)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Wen Han Chen
                June 18, 2020 

	(Signature)
	
	 CROWN INVESTMENT WORLDWIDE, LTD. 

	(Name of Holder)
	
	 Wen Han Chen, C.E.O. 

	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Jyan Ming Hang 

	(Signature)
	
	 HERCULES BIOVENTURE, L.P. 

	(Name of Holder)
	
	 Jyan Ming Hang

 
 Geeneral Partner

	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Shang Techan 

	(Signature)
	
	 REDPINE FINANCE HOLDINGS, INC. 

	(Name of Holder)
	
	 SHANG TECHAN, Authorized Signatory 

	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ James Wang 

	(Signature)
	
	 NCKU VENTURE CAPITAL CO., LTD. 

	(Name of Holder)
	
	 James Wang, Chairman 

	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Fu Den Nan 

	(Signature)
	
	 FU DEN NAN (WILLIAM FU) 

	(Name of Holder)
	
	 
	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ George Lee 

	(Signature)
	
	 GEORGE J. LEE 

	(Name of Holder)
	
	 
	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Jonas Chia-Tsun Wang 

	(Signature)
	
	 JONAS CHIA-TSUN WANG 

	(Name of Holder)
	
	 
	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Sylvia Liu 

	(Signature)
	
	 SYLVIA LIU 

	(Name of Holder)
	
	 
	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ David P. Conklin /s/ Wendy Conklin 

	(Signature)
	
	 DAVID P. AND WENDY CONKLIN 

	(Name of Holder)
	
	 
	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Mark Klopp 

	(Signature)
	
	 MARK V. KLOPP 

	(Name of Holder)
	
	 
	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Michael Horgan 

	(Signature)
	
	 MICHAEL J. HORGAN 

	 (Name of Holder)

	
	 6/25/20

	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Ter-Shan Chen 

	(Signature)
	
	 BIO INTECH, LTD. 

	(Name of Holder)
	
	 Ter-Shan Chen, Manager

	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Dean Tsao 

	(Signature)
	
	 TSAO: DEAN PING TSAO FAMILY LIMITED PARTNERS NO. 2, LP 

	(Name of Holder)
	
	 Dean Tsao, GP 

	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 Kenneth E. Lipson 

	(Signature)
	
	 GLOBAL ASSETS INVESTMENT, LLC 

	(Name of Holder)
	
	 /s/ Kenneth E. Lipson, Member 

	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Michael Daniel 

	(Signature)
	
	 MICHAEL DANIEL 

	(Name of Holder)
	
	 
	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Wang Chia-Ho 

	(Signature)
	
	 SUNSINO INTERNATIONAL DEVELOPMENT ASSOCIATE INC. 

	(Name of Holder)
	
	 Chairman, Wang Chia-Ho

	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Ninth Amended and Restated
Investors’ Rights Agreement effective as of the day and year first above written. 
  

			
	 HOLDER:

	
	 /s/ Killin To 

	(Signature)
	
	 KILLIN TO 

	(Name of Holder)
	
	 
	 (Name and Title of Signatory, if Applicable)

  

SIGNATURE PAGE TO CARDIVA MEDICAL, INC. 

NINTH AMENDED AND RESTATED INVESTORS’ RIGHTS
AGREEMENT 

 EXHIBIT A 

SECURITYHOLDERS 
 AmKey
Biotechnology Venture Capital, Inc. 
 AmKey Venture Capital, Inc. 

Bio Intech Ltd. 
 Chien-Chun Chang

 Chang Mein Kai 
 Tony Fon-Lein Chang 
 Yu San Elyn Chang 

Stephen Sun Chiao 
 David P. and
Wendy Conklin 
 Crown Investment Worldwide, Ltd. 

Michael A. Daniel 
 Der Yang
Biotechnology Venture Capital Co., ltd. 
 Eminent Venture Capital Corporation 

EW Healthcare Partners Fund 2, L.P. 

EW Healthcare Partners Fund 2-A, L.P. 

Eureka BioVenture Partners 
 Fu Den
Nan (William Fu) 
 Global Assets Investment, LLC 

Global Star International Co., Ltd. 

Hercules Bioventure, L.P. 
 Hanako
Hiramatsu 
 Michael J. Horgan 

Jack Investment Co., Ltd. 
 Mark V.
Klopp 
 George J. Lee, Ph.D. 

Maw Sheng Lee 
 Lexli Investment,
LLC 
 The Lien Family Trust, Dated March 5, 2003 

Ping Liu 
 Sylvia Liu 

Charles T. Maroney 
 Frederic H.
Moll 
 NCKU Venture Capital Co., Ltd. 

PTV Sciences II, L.P. 
 Redpine
Finance Holdings, Inc. 
 Rind, Ltd. 

Chun-Chien Shih 
 Jerry Shih 

Kilin To 
 Dean & Ping Tsao
Family Limited Partnership No. 2, LP 
 TSC BioVenture Capital Corporation 

Universal Migration Ltd. 
 Craig M.
Walker, M.D. 
 Jonas Chia-Tsun Wang 

PTV CM SPV, LLC 
 PTV IV, L.P. 

301 Cardiva Partners, LLC 
 Canepa
Advanced Healthcare Fund, L.P.EX-10.16

 Exhibit 10.16 

 
 

 
                 , 2021 

John Russell 
 Dear John, 

This letter agreement (the “Agreement”) sets forth the terms and conditions of your continued employment with Cardiva Medical, Inc.
(“Cardiva” or the “Company”). This Agreement supersedes and replaces all prior written employment agreements, offer letters, or oral promises regarding the subject matter herein, including, but not limited to, your
initial February 12, 2015 offer letter agreement with the Company (the “Offer Letter”). This Agreement is effective as of the Initial Public Offering date, estimated to
be                 , 2021 (the “Effective Date”). 

1.    Position; Duties and Location: You will continue to serve as the Company’s President and CEO.
During the term of your employment with the Company, you will devote your best efforts and substantially all of your business time and attention to the business of the Company, except for approved vacation periods and reasonable periods of illness
or other incapacities permitted by the Company’s general employment policies. You shall continue to perform such duties as are required by the Company’s Board of Directors, to whom you will report. Your primary office location will be your
Shoreview, MN home office. The Company reserves the right to reasonably require you to perform your duties at places other than your primary office location from time to time, and to require reasonable business travel. The Company may modify your
job title and duties as it deems necessary and appropriate in light of the Company’s needs and interests from time to time. 

2.    Policies and Procedures. The employment relationship between you and the Company shall continue to be
governed by the general employment policies and practices of the Company, as adopted or modified from time to time in the Company’s discretion, except that when the terms of this Agreement differ from or are in conflict with the Company’s
general employment policies or practices, this Agreement shall control. 
 3.    Compensation. 

a.    Salary. You will receive a base salary at the rate of Four Hundred Ninety Five Thousand Dollars and
00/100 ($495,000.00) per year (the “Base Salary”), subject to standard payroll deductions and withholdings and payable in accordance with the Company’s regular payroll schedule. As an exempt salaried employee, you will be
required to work the Company’s normal business hours, and such additional time as appropriate for your work assignments and position, and you will not be entitled to overtime compensation. 

b.    Bonus. You will be eligible for an annual discretionary target bonus of Eighty Five percent (85%) of
your Base Salary (the “Annual Bonus”), under the terms herein. Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will 

 
be determined by the Company’s Compensation Committee of the Board, as applicable, in its sole discretion, based upon the Company’s and your achievement of objectives to be determined
on an annual basis by the Compensation Committee of the Board, as applicable. Any bonus is not earned until paid and will be paid on or before March 15 of the year following the year for which the bonus is awarded. If your employment terminates
for any reason prior to the payment date, you will not have earned, and will not be paid, any pro-rated bonus.     

4.    Standard Company Benefits. You will continue to be entitled to participate in all employee benefit
programs for which you are eligible under the terms and conditions of the benefit plans and applicable policies that may be in effect from time to time and provided by the Company to its executive employees. The Company reserves the right to cancel
or change the benefit plans or programs it offers at any time. Additional information regarding these benefits is available upon request. 

5.    Expenses. The Company will reimburse you for reasonable travel, entertainment or other expenses
incurred by you in furtherance of or in connection with the performance of your duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. 

6.    Equity. Any and all Equity Awards granted to you prior to the Effective Date will continue to be
governed by the terms of the applicable stock option and equity incentive award plans or agreements and grant notices. For purposes of this Agreement, “Equity Awards” shall mean all stock options, restricted stock and restricted
stock units and such other equity awards granted to you prior to, or after, the Effective Date pursuant to the Company’s stock option and equity incentive award plans or agreements and any shares of stock issued upon exercise thereof. 

7.    At-Will Employment. Your employment relationship remains at-will. Either you or the Company may terminate the employment relationship at any time, with or without Cause (as defined in the Severance Plan referenced below) or advance notice. 

8.     Severance. You are eligible for severance benefits pursuant to the Company’s Severance Plan, as
approved by the Board on March 2, 2020, and as may be amended from time to time in the Company and Board’s sole discretion (the “Severance Plan”). You hereby acknowledge and agree that any prior written or oral promise of
severance benefits are hereby extinguished and superseded by your rights pursuant to the Severance Plan. 

9.    Proprietary Information Obligations. 

a.    Confidential Information Agreement. On or around February 12, 2015, you entered into an Employee
Confidential Information and Inventions Assignment Agreement (the “Confidentiality Agreement”), which remains in full force and effect. 

b.    Third-Party Agreements and Information. You represent and warrant that your employment by the Company
does not conflict with any prior employment or consulting agreement or other agreement with any third party, and that you will perform your duties to the Company without violating any such agreement. You represent and warrant that you do not possess
confidential information arising out of prior employment, consulting, or other third-party relationships, that would be used in connection with your employment by the Company, 

 
except as expressly authorized by that third party. During your employment by the Company, you will use in the performance of your duties only information which is generally known and used by
persons with training and experience comparable to your own, common knowledge in the industry, otherwise legally in the public domain, or obtained or developed by the Company or by you in the course of your work for the Company. 

10.    Outside Activities. Except with the prior written consent of the Board of Directors, you will not
during the term of your employment with the Company undertake or engage in any other employment, occupation or business enterprise, other than ones in which you are a passive investor. You may engage in civic and not-for-profit activities so long as such activities do not materially interfere with the performance of your duties hereunder or present a conflict of interest with the Company. You agree not to acquire,
assume or participate in, directly or indirectly, any position, investment or interest known to be adverse or antagonistic to the Company, its business or prospects, financial or otherwise. 

11.    Dispute Resolution. To ensure the rapid and economical resolution of disputes that may arise in
connection with your employment with the Company, you and the Company agree that any and all disputes, claims, or causes of action, in law or equity, including but not limited to statutory claims, arising from or relating to the enforcement, breach,
performance, or interpretation of this Agreement, your employment with the Company, or the termination of your employment, shall be resolved pursuant to the Federal Arbitration Act, 9 U.S.C. § 1-16, to
the fullest extent permitted by law, by final, binding and confidential arbitration conducted by JAMS or its successor, under JAMS’ then applicable rules and procedures for employment disputes before a single arbitrator (available upon request
and also currently available at http://www.jamsadr.com/rules-employment-arbitration/). You acknowledge that by agreeing to this arbitration procedure, both you and the Company waive the right to resolve any such dispute through a trial by jury or
judge or administrative proceeding. In addition, all claims, disputes, or causes of action under this section, whether by you or the Company, must be brought in an individual capacity, and shall not be brought as a plaintiff (or claimant) or class
member in any purported class or representative proceeding, nor joined or consolidated with the claims of any other person or entity. The arbitrator may not consolidate the claims of more than one person or entity, and may not preside over any form
of representative or class proceeding. To the extent that the preceding sentences regarding class claims or proceedings are found to violate applicable law or are otherwise found unenforceable, any claim(s) alleged or brought on behalf of a class
shall proceed in a court of law rather than by arbitration. This paragraph shall not apply to any action or claim that cannot be subject to mandatory arbitration as a matter of law, including, without limitation, claims brought pursuant to the
California Private Attorneys General Act of 2004, as amended, the California Fair Employment and Housing Act, as amended, and the California Labor Code, as amended, to the extent such claims are not permitted by applicable law(s) to be submitted to
mandatory arbitration and the applicable law(s) are not preempted by the Federal Arbitration Act (collectively, the “Excluded Claims”). In the event you intend to bring multiple claims, including one of the Excluded Claims listed
above, the Excluded Claims may be filed with a court, while any other claims will remain subject to mandatory arbitration. You will have the right to be represented by legal counsel at any arbitration proceeding. Questions of whether a claim is
subject to arbitration under this agreement shall be decided by the arbitrator. Likewise, procedural questions which grow out of the dispute and bear on the final disposition are also matters for the arbitrator. The arbitrator shall: (a) have
the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law; and (b) issue a written statement signed by the arbitrator regarding the

 
disposition of each claim and the relief, if any, awarded as to each claim, the reasons for the award, and the arbitrator’s essential findings and conclusions on which the award is based.
The arbitrator shall be authorized to award all relief that you or the Company would be entitled to seek in a court of law. The Company shall pay all JAMS arbitration fees in excess of the administrative fees that you would be required to pay if the
dispute were decided in a court of law. Nothing in this Agreement is intended to prevent either you or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Any awards or
orders in such arbitrations may be entered and enforced as judgments in the federal and state courts of any competent jurisdiction. 

12.    General Provisions. 

a.    Notices. Any notices provided must be in writing and will be deemed effective upon the earlier of
personal delivery (including personal delivery by fax) or the next day after sending by overnight carrier, to the Company at its primary office location and to you at the address as listed on the Company payroll. 

b.    Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction to the extent possible in keeping with the intent of the parties insofar as possible
under applicable law. 
 c.    Waiver. Any waiver of any breach of any provisions of this Agreement, or
rights hereunder, must be in writing to be effective, and shall not thereby be deemed to be a waiver of any preceding or succeeding breach or rights of the same or any other provision of this Agreement. 

d.    Complete Agreement / Representations. You acknowledge and agree that you have been paid all
compensation owed for all time worked for the Company, and other than the current payroll, have not earned and are not entitled to receive any other compensation or benefits from the Company other than as set forth in this Agreement. You further
represent that you are not aware of any events or actions that have occurred during your employment with the Company that would give rise to your ability to resign your employment for Good Reason under the Offer Letter, or any other plan, policy or
agreement. This Agreement, together with the Confidentiality Agreement, constitutes the entire agreement between you and the Company with regard to this subject matter and is the complete, final, and exclusive embodiment of the parties’
agreement with regard to this subject matter. This Agreement is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or
representations (including without limitation the Offer Letter, and any other employment terms, offer letter or employment agreement you may have entered into or discussed with the Company, and you further acknowledge and agree that as of the
Effective Date, you will no longer be eligible for, nor entitled to, any compensation or benefits under the Offer Letter or any other offer letter or agreement). This Agreement cannot be modified or amended except in a writing signed by a duly
authorized officer of the Company. 

 e.    Counterparts. This Agreement may be executed and
delivered in separate counterparts, any one of which need not contain signatures of more than one party, but all of which taken together will constitute one and the same Agreement, and delivery via facsimile, electronic mail (including pdf or any
electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other transmission method and shall be deemed to have been duly and validly delivered and be valid and effective
for all purposes. 
 f.    Headings. The headings of the paragraphs hereof are inserted for convenience
only and shall not be deemed to constitute a part hereof nor to affect the meaning thereof. 

g.    Successors and Assigns. This Agreement is intended to bind and inure to the benefit of and be
enforceable by you and the Company, and their respective successors, assigns, heirs, executors and administrators, except that you may not assign any of your duties hereunder and may not assign any of your rights hereunder without the written
consent of the Company, which shall not be withheld unreasonably. 
 h.    Tax Withholding and
Indemnification. All payments and awards contemplated or made pursuant to this Agreement will be subject to withholdings of applicable taxes in compliance with all relevant laws and regulations of all appropriate government authorities. You
acknowledge and agree that the Company has neither made any assurances nor any guarantees concerning the tax treatment of any payments or awards contemplated by or made pursuant to this Agreement. You have had the opportunity to retain a tax and
financial advisor and fully understands the tax and economic consequences of all payments and awards made pursuant to the Agreement. 

i.    Choice of Law. All questions concerning the construction, validity and interpretation of this
Agreement will be governed by the laws of the State of California without regard to conflicts of law principles. 
 If you are in agreement
with the terms set forth above, please sign below and return the signed Agreement. 
  

					
	  

  Lisa Garrett, Chief Financial Officer
	    		  	
			
	   Understood and Accepted:
	    		  	
			
	  

  John Russell
	    	  

  Date
	  	
		    		  	
	  

  Email Address
	    		  	

 CARDIVA MEDICAL, INC. 

SEVERANCE PLAN 

PARTICIPATION AGREEMENT 

Name: John Russell 
 Section 1.
ELIGIBILITY. 
 You have been designated as eligible to participate in the Cardiva Medical, Inc. Severance Plan (the
“Plan”), a copy of which is attached as Annex I to this Participation Agreement (the “Agreement”). Capitalized terms not explicitly defined in this Agreement but defined in the Plan shall have the same
definitions as in the Plan. 
 Section 2. SEVERANCE BENEFITS 

Subject to the terms of the Plan and Section 3 of this Agreement, if your employment is terminated in a Qualifying Termination or CIC
Qualifying Termination, and if you meet all the other eligibility requirements set forth in the Plan, including, without limitation, executing the required Release within the applicable time period set forth therein and provided that such Release
becomes effective in accordance with its terms, you will receive the severance benefits set forth in this Section 2. Notwithstanding the schedule for provision of severance benefits as set forth below, the provision of any severance benefits
under this Section 2 is subject to any delay in payment that may be required under the Plan. 
 (a) Qualifying Termination.
Upon a Qualifying Termination, you shall be eligible to receive the following severance benefits. 
 (1) Cash Severance
Benefit. You will be entitled to continue to receive your then-current Base Salary for twelve (12) months (such period of months, the “Severance Period”) to be paid as set forth in the Plan. 

(2) Payment of Continued Group Health Plan Benefits. 

(i) If you timely elect continued group health plan continuation coverage under COBRA, the Company shall pay the full amount of your
COBRA premiums, or shall provide coverage under any self-funded plan, on behalf of you for your continued coverage under the Company’s group health plans, including coverage for your eligible dependents, for the Severance Period (the
“COBRA Payment Period”). Upon the conclusion of such period of insurance premium payments made by the Company, or the provision of coverage under a self-funded group health plan, you will be responsible for the entire payment
of premiums (or payment for the cost of coverage) required under COBRA for the duration of your eligible COBRA coverage period. For purposes of this Section, (i) references to COBRA shall be deemed to refer also to analogous provisions of state
law and (ii) any applicable insurance premiums that are paid by the Company shall not include any amounts payable by you under an Internal Revenue Code Section 125 health care reimbursement plan, which amounts, if any, are your sole
responsibility. 
 (ii) Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, that it cannot
provide the COBRA premium benefits without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then in lieu of paying COBRA premiums on the your
behalf, the Company will instead pay you a fully taxable lump sum cash payment for the balance of the COBRA Payment Period as set forth in the Plan. 

  
 1 

 (b) Change in Control Qualifying Termination. Upon a Change in Control
Qualifying Termination, you shall be eligible to receive the following severance benefits. For the avoidance of doubt, in no event shall you be entitled to benefits under both Section 2(a) and this Section 2(b). If you are eligible for
severance benefits under both Section 2(a) and this Section 2(b), you shall receive the benefits set forth in this Section 2(b) and such benefits shall be reduced by any benefits previously provided to you under Section 2(a).

 (1) Cash Severance Benefit. You will receive the cash severance benefit described in Section 2(a)(1) above,
except that: 
 (i) your Severance Period will be twenty-four (24) months; and 

(ii) you will additionally be entitled to 100% of your target bonus, if any, as set forth in the Plan. 

(2) Accelerated Vesting of Stock Awards. Any outstanding unvested Equity Awards shall accelerate and become vested with respect
to 100% of the then unvested shares subject thereto as set forth in the Plan. 
 (3) Payment of Continued Group Health Plan
Benefits. You will receive the payment for continued group health plan benefits described in Section 2(a)(2) above, except that the COBRA Payment Period will be equal to the Severance Period applicable to a Change in Control Termination as
set forth in Section 2(b)(1) above. 
 Section 3. ACKNOWLEDGEMENTS. 

As a condition to participation in the Plan, you hereby acknowledge each of the following: 

(a) The severance benefits that may be provided to you under this Agreement are subject to all of the terms of the Plan which is
incorporated into and becomes part of this Agreement. 
 (b) The severance benefits that may be provided to you under this updated
Agreement are only effective upon the successful completion of the Company’s Initial Public Offering ((IPO). 
 (c) This
Agreement and the Plan supersedes any severance benefit plan, policy or practice previously maintained by the Company that may have been applicable to you. This Agreement and the Plan do not supersede, replace or otherwise alter the At Will
Employment, Confidential Information, Invention Assignment, and Arbitration Agreement. 
 (d) You may not sell, transfer, or
otherwise assign or pledge your right to benefits under this Agreement and the Plan to either your creditors or to your beneficiary, except to the extent permitted by the Plan Administrator if such action would not result in adverse tax consequences
under Section 409A. 
 To accept the terms of this Agreement and participate in the Plan, please sign and date this Agreement in the
space provided below and return it to Human Resources no later than January 15, 2021. 

  
 2 

			
	Cardiva Medical, Inc.
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

					
			
	   
	 		 	   

	John Russell	 		 	Date

  
 3 

 ANNEX I 

CARDIVA MEDICAL, INC. SEVERANCE PLAN 

  
 1

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