Document:

Executive Employment Agreement

 Exhibit 10.1 

EXECUTIVE EMPLOYMENT AGREEMENT 

Michael Coffee 

This EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is made as of June 14, 2010 by and between MEDICINOVA, INC,
a Delaware corporation (“MediciNova”), and Michael Coffee (“Executive”), with reference to the following facts: 

A. The Board of Directors of MediciNova (the “Board”) has determined that it would be in the best interests of
MediciNova to enter into this Employment Agreement on the terms herein set forth. 
 B. Executive is willing to serve as Chief
Business Officer of MediciNova upon the terms and conditions herein set forth. In respect of such employment, Executive has also executed that certain Proprietary Information and Inventions Agreement of even date herewith (the “Proprietary
Information and Inventions Agreement”) and that certain Severance Protection Agreement of even date herewith (the “Severance Protection Agreement”), which are attached hereto as Exhibits A and B, respectively,
and incorporated herein by reference as though fully set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing
premises and the mutual covenants herein contained, the parties agree as follows: 
 1. Definitions. For purposes of this
Agreement, the following terms shall have their respective meanings: 
 1.1 “Cause” shall mean (as shall
reasonably be determined by the Board of Directors of the MediciNova (the “Board”)): (i) any intentional failure to perform the Executive’s obligations, services or duties under this Agreement or any other agreement or
arrangement between the Executive and the MediciNova regarding employment or consulting services to be rendered by the Executive to the MediciNova, other than an immaterial violation which is remedied upon reasonable notice; (ii) failure to
achieve performance levels for the MediciNova consistent with the MediciNova’s goals, as determined by the Board in good faith and following appropriate inquiry; (iii) any violation of MediciNova policy, other than an immaterial violation
which is remedied upon reasonable notice; (iv) any willful neglect of the Executive’s duties to the MediciNova or gross misconduct; (v) any failure to protect the MediciNova’s trade secrets; or (vi) any commission of any
crime or criminal offense involving moral turpitude. 
 1.2 “Total and Permanent Disability” shall have the
meaning ascribed to such term in Section 22 of the Internal Revenue Code of 1986, as amended (the “Code”). 

2. Duties. Subject to the terms and provisions of this Agreement, Executive is employed by MediciNova as an executive employee of
MediciNova. Executive’s specific position shall be as Chief Business Officer; provided, however, that the Executive may be reassigned by the Board to another executive position with MediciNova (or another position of similar
responsibility) at such time as the Board (excluding Executive) reasonably agrees upon another Chief Business Officer. Executive covenants to perform Executive’s employment duties in good faith. Executive shall at all times during the
performance of this Agreement strictly adhere to and obey any and all rules and regulations now in effect or as subsequently adopted and/or modified governing the conduct of MediciNova employees and/or executives (the “Employment
Policies”). In the event of any conflict between the provisions of this Agreement and any of the Employment Policies, the provisions of this Agreement shall control. A default under any of the Employment Policies, except to the extent
necessary or appropriate to comply with the provisions of this Agreement, shall be a default under this Agreement. 
  

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 3. Exclusive Services. Executive’s entire business time, attention, energies,
skills, learning and best efforts shall be devoted to the business of MediciNova; provided, however, that this Section 3 shall not be construed as preventing Executive from (1) participating in social, civic or professional
associations or engaging in passive outside investment activities which may require a limited portion of time and effort to manage, consistent with any Employment Policies and (2) serving as an advisor to the Chief Executive Officer of Adamas
Pharmaceuticals, Inc, in each case so long as such activities do not interfere with the performance of Executive’s duties nor compete, in any way, with the products or services offered by or through MediciNova. 

4. Term of Employment. The term of this Agreement shall continue until such time as the employment of Executive is terminated
pursuant to Section 7 below; provided, however, that this Agreement shall automatically terminate upon the death or Total and Permanent Disability of Executive. 

5. Compensation. For all services rendered by Executive to MediciNova, MediciNova shall pay/provide to Executive the following:

  

	 	•	 	 base compensation in the amount of $300,000 per annum (the “Base Compensation”); 

 

	 	•	 	 periodic bonuses determined within the sole discretion of the Board (or any committee of the Board which is appointed to consider matters relating to
executive compensation) but with reference to amounts paid to other executives and/or employees of MediciNova; 

  

	 	•	 	 grants of equity-based compensation within the sole discretion of the Board (or any committee of the Board which is appointed to consider matters
relative to equity-based compensation); MediciNova will grant you 100,000 options as an initial grant. 

  

	 	•	 	 such group medical and life insurance and participation in other benefit plans as shall be made available for executives of MediciNova (with amounts
and levels of participation therein determined with reference to other executives and/or employees of MediciNova); and 

  

	 	•	 	 an annual amount of vacation days consistent with amounts available for other executives of MediciNova (but, in any event, no fewer than 10 days)
(collectively, the “Compensation Package”). 

  

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 6. Adjustments. The amount of Base Compensation may be adjusted on an annual basis as
Board and Executive shall mutually and reasonably agree. Compensation under the Compensation Package shall be paid to Executive less required deductions for Social Security, withholding taxes and other authorized deductions and at times when
executives of MediciNova normally receive their compensation. 
 7. Termination. The employment of Executive may be
terminated at any time by: 
 7.1 Mutual agreement of MediciNova and Executive evidenced in writing; 

7.2 Action of the Board without prior notice to Executive if the Board reasonably shall establish that (i) Executive is in material
default in the performance of Executive’s obligations, services or duties hereunder, or has materially breached any provision of this Agreement, or (ii) MediciNova otherwise has Cause to terminate Executive’s employment (although the
right of termination of Executive’s employment under this Section 7.2 shall not be in limitation of any other right or remedy MediciNova may have under this Agreement or otherwise); 

7.3 Upon the death or Total and Permanent Disability of Executive; or 

7.4 Upon three months’ written notice by either party to the other indicating the desire of the notifying party, in its sole
discretion, to terminate the employment of Executive hereunder. 
 8. Compensation Upon Termination. 

8.1 In the event that the employment of Executive is terminated pursuant to Section 7 above, Executive shall be terminated without
compensation other than for accrued salary and other accrued amounts; provided, however, that if such employment is terminated at MediciNova’s option pursuant to Section 7.4 above, then Executive shall be entitled to such
severance payment(s) as shall be provided for (if any) by the Employment Policies in effect at that time; and provided, further, that in lieu of the three months’ notice provided by Section 7.4 above, MediciNova may provide
Executive with an amount equal to one-half (1/2) of annual Base Compensation which shall be applicable at the time of Executive’s termination of employment with MediciNova, such amount, if any, shall be paid in lump sum on or as soon as
practicable following the Termination Date (the “Termination Payment”). Notwithstanding the foregoing, and as provided in Section 8.3, if after any such termination of employment, the Executive will become a consultant in
accordance with Section 9 and if the Termination Payment is considered deferred compensation under Code Section 409A, then the parties agree that the Termination Payment, if any, will be delayed until such time as the Executive undergoes a
separation of service in accordance with Section 8.3. Except as provided in the immediately preceding sentence (if applicable), Executive is entitled to no other compensation upon termination. 

8.2 Notwithstanding any provision to the contrary in this Agreement, MediciNova shall delay the commencement of payments or benefits
coverage to which the Executive would otherwise become entitled under the Agreement in connection with his termination of employment until the earlier of (i) the expiration of the six-month period measured from the date of the Executive’s
“separation from service” with MediciNova (as such term is defined in Treasury Regulations issued under Section 409A of the Code) or (ii) the date of the Executive’s death, if and only if MediciNova in good faith
determines that the Executive is a “specified employee” within the meaning of that term under Code Section 409A at the time of such separation from service and that such delayed commencement is otherwise required in order to
avoid a prohibited distribution under Section 409A(a)(2) of the Code. Upon the expiration of the applicable Code Section 409A(a)(2) deferral period, all payments and benefits deferred pursuant to this Section 8.2 (whether they would
have otherwise been payable in a single sum or in installments in the absence of such deferral) shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under the Agreement shall be paid or provided in
accordance with the normal payment dates specified for them herein. 
  

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 8.3 The provisions of this Agreement which require commencement of payments or benefits
coverage subject to Section 409A upon a termination of employment shall be interpreted to require that the Executive have a “separation from service” with the Company (as such term is defined in Treasury Regulations issued
under Code Section 409A). 
 9. In the event that the employment of Executive is terminated pursuant to Section 7
above, Executive shall be terminated without compensation other than for accrued salary and other accrued amounts; provided, however, that if such employment is terminated at MediciNova’s option pursuant to Section 7.4 above,
then Executive shall be entitled to such severance payment(s) as shall be provided for (if any) by the Employment Policies in effect at that time; and provided, further, that in lieu of the three months’ notice provided by
Section 7.4 above, MediciNova may provide Executive with an amount equal to one-half (1/2) of annual Base Compensation which shall be applicable at the time of Executive’s termination of employment with MediciNova. Except as provided
in the immediately preceding sentence (if applicable), Executive is entitled to no other compensation upon termination. 
 10.
Option to Hire Executive as Consultant. Upon any termination of Executive’s employment under this Agreement, either pursuant to Section 7 above or otherwise, MediciNova shall have the option (in MediciNova’s discretion) to
engage Executive as a consultant on a quarterly basis commencing on the effective date of termination of Executive’s employment (the “Termination Date”) and continuing for a period of up to one (1) year
following the Termination Date (or, if longer, the period terminating on the date which is three (3) years after June 14, 2010). MediciNova’s rights under this Section 9 shall lapse if MediciNova has not provided
Executive with written notice of MediciNova’s intent to exercise its rights hereunder prior to the later of (i) the Termination Date (e.g., in the event of a voluntary termination under Section 7.4 above) and (ii) 30 days
following notice of such termination (e.g., in the event of an involuntary termination under Section 7.2 above). As a consultant, Executive’s duties shall include devoting attention to those matters reasonably requested by the Board but
which will not interfere (as to time required) with the opportunity to maintain other employment consistent with this Section 9. During the term of this Agreement (and subject to the provisions of the Proprietary Information and Inventions
Agreement) as well any period for which Executive is engaged to perform consulting services for MediciNova under this Section 9, Executive agrees that Executive shall not: 

10.1 Carry on directly or indirectly, whether or not for compensation (as proprietor, partner, stockholder (except that a less than one
percent (1%) ownership in a public corporation shall be permitted), officer, director, agent, employee, consultant, trustee, affiliate or otherwise), any business which is, or as a result of Executive’s engagement or participation would
become, competitive with or adverse to the business of MediciNova as it exists from time to time; 
  

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 10.2 Permit Executive’s name to be used by any business competitive in any respect with
the business of MediciNova as it exists from time to time; 
 10.3 Solicit or divert, or attempt to call on, solicit or divert,
any customer of MediciNova with whom Executive became acquainted during Executive’s employment or affiliation with MediciNova, either for Executive or for any other person, firm or corporation; or 

10.4 Induce or attempt to induce any person who is an employee, agent or consultant of MediciNova to leave the employ of MediciNova.

 Without limiting the other provisions of this Agreement, (i) Executive acknowledges and agrees that it is impossible to measure in money
the damages which will befall MediciNova by reason of Executive’s failure to perform any of the obligations set forth in this Section 9, (ii) Executive acknowledges that MediciNova shall be entitled to enforce Executive’s
obligations under this Section 9 by court injunction (without the posting of a bond or other security), specific performance or other appropriate equitable relief, (iii) Executive agrees (to the maximum extent permitted by law) to have the
provisions of this Section 9 specifically enforced against Executive by any court of equity and (iv) Executive consents to the entry of injunctive relief against Executive enjoining or restraining any violation or threatened violation of
the provisions of this Section 9. 
 11. Compensation for Consulting Services. For each quarter (i.e., three-month
period) that Executive provides consulting services to MediciNova pursuant to the option of MediciNova contained in Section 9 above, MediciNova shall pay Executive a sum equal to fifteen percent (15%) of
Executive’s annual Base Compensation which shall be applicable at the time of Executive’s termination of employment with MediciNova (prorated for any period of less than a quarter). The parties expressly agree that when Executive is
performing consulting services for MediciNova, Executive is acting as an independent contractor. Therefore, Executive shall be solely liable for Social Security and income taxes that result from Executive’s compensation as a consultant. In
addition, Executive shall not be entitled to any other benefits including, without limitation, such group medical, life and disability insurance and other benefits as may be provided to employees and/or executives of MediciNova. 

12. Dispute Resolution Procedure. Any dispute arising out of or related to the employment relationship created hereby, including
the termination of that relationship and any allegations of unfair or discriminatory treatment arising under state or federal law or otherwise, to the maximum extent permitted by law, shall be resolved by final and binding arbitration, except where
the law specifically forbids the use of arbitration as a final and binding remedy, or where Section 11.4 below specifically allows a different remedy. The following dispute resolution procedure shall apply: 

12.1 The party claiming to be aggrieved shall furnish to the other party a written statement of the grievance identifying any witnesses
or documents that support the grievance and the relief requested or proposed. 
  

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 12.2 The responding party shall furnish a statement of the relief, if any, that it is
willing to provide, and the witnesses or documents that support its position as to the appropriate action. The parties can mutually agree to waive this step. If the matter is not resolved at this step, the parties shall submit the dispute to
non-binding mediation before a mediator to be jointly selected by the parties. Employee shall pay the cost of the mediation. 

12.3 If the mediation does not produce a resolution of the dispute, the parties agree that the dispute shall be resolved by final and
binding arbitration before an arbitrator appointed by the Judicial Arbitration and Mediation Service (JAMS), with the arbitration to be held in San Diego, California. Judgment upon the award may be entered in any court having jurisdiction thereof.
The arbitrator, however, shall not have the authority to require MediciNova to change any lawful policy or benefit plan. The hearing shall be transcribed. Employee shall bear the costs of the arbitration. 

Except as set forth in Section 9 hereof, arbitration shall be the exclusive final remedy for any dispute between the parties, to the maximum
extent permitted by law, including but not limited to disputes involving claims for discrimination or harassment (such as claims under the Fair Employment and Housing Act, Title VII of the Civil Rights Act of 1964, the Americans with
Disabilities Act, or the Age Discrimination in Employment Act), wrongful termination, breach of contract, breach of public policy, physical or mental harm or distress or any other disputes, and the parties agree that no dispute shall be submitted to
arbitration where the party claiming to be aggrieved has not complied with the preliminary steps provided for in Sections 11.1 and 11.2. 

Notwithstanding the foregoing, either party may bring an action in a court of competent jurisdiction regarding or related to matters involving
MediciNova’s confidential, proprietary or trade secret information, or regarding or related to inventions that Executive may claim to have developed prior to joining MediciNova or after joining MediciNova, pursuant to California Labor Code
2870. The parties further agree that, for violations of Executive’s confidentiality, proprietary information or trade secret obligations which the parties have elected to submit to arbitration, MediciNova retains the right to seek preliminary
injunctive relief in court in order to preserve the status quo or prevent irreparable injury before the matter can be heard in arbitration. 

12.4 MediciNova reserves the right to modify, change or cancel this provision upon 30 days written notice. However, such
cancellation shall not affect matters which have already been submitted to arbitration. 
 13. Confidentiality and
Inventions. Executive recognizes that MediciNova has and shall continue to have and develop information, knowledge and rights regarding inventions, confidential information, products, services, future plans, business affairs, processes, trade
secrets, technical matters, customer lists, experimental designs and items of intellectual property. Executive hereby confirms and ratifies the Proprietary Information and Inventions Agreement (which is incorporated herein by reference) and agrees
to execute and deliver to MediciNova any other similar agreement(s) presented to Executive by MediciNova from time to time. 
  

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 14. Section Headings. The section headings or captions in this Agreement are for
convenience of reference only and do not form a part hereof, and do not in any way modify, interpret or construe the intent of the parties or affect any of the provisions of this Agreement. 

15. Survival. The obligations and rights imposed upon the parties hereto by the provisions of this Agreement which relate to acts
or events subsequent to the termination of this Agreement shall survive the termination of this Agreement and shall remain fully effective thereafter. 

16. Severability. Should any one or more of the provisions of this Agreement or of any agreement entered into pursuant to this
Agreement be determined to be illegal or unenforceable in any relevant jurisdiction, then such illegal or unenforceable provision shall be modified by the proper court, if possible, but only to the extent necessary to make such provision
enforceable, and such modified provision and all other provisions of this Agreement and of each other agreement entered into pursuant to this Agreement shall be given effect separately from the provision or portion thereof determined to be illegal
or unenforceable and shall not be affected thereby; provided, however, that any such modification shall apply only with respect to the operation of this Agreement in the particular jurisdiction in which such determination of illegality
or unenforceability is made. 
 17. Waiver. The failure of either party to enforce any provision of this Agreement shall
not be construed as a waiver of any such provision, nor prevent such party thereafter from enforcing such provision or any other provision of this Agreement. The rights granted both parties herein are cumulative and the election of one shall not
constitute a waiver of such party’s right to assert all other legal remedies available under the circumstances. 
 18.
Parties in Interest. Nothing in this Agreement, whether express or implied, is intended to confer any rights or remedies under or by reason of this Agreement on any persons other than the parties hereto and the successors, assigns and
affiliates of MediciNova, nor is anything in this Agreement intended to relieve or discharge the obligation or liability of any third person to any party to this Agreement, nor shall any provision give any third person any right of subrogation or
action over or against any party to this Agreement. 
 19. Assignment. MediciNova may, in its sole discretion, assign its
rights and obligations, in whole or in part, to any parent, subsidiary or affiliate of MediciNova. This Agreement shall be binding upon the heirs, executors, successors and assigns of Executive. This Agreement contemplates the rendition of personal
services by Executive and Executive may not assign this Agreement or delegate Executive’s responsibilities hereunder. 

20. Entire Agreement. Except for the Proprietary Information and Inventions Agreement and the Severance Protection Agreement and
any similar agreements between MediciNova and Executive as may exist from time to time, this Agreement contains the entire agreement of the parties with respect to the subject matter hereof and no representation, inducement, promise or agreement,
oral or otherwise, between the parties not embodied herein shall be of any force or effect. No modification, termination or attempted waiver shall be valid unless in writing and signed by the party against whom or which such modification,
termination or waiver is sought to be enforced. 
  

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 21. Counterparts. This Agreement may be executed in counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument. 
 IN WITNESS
WHEREOF, the parties have executed this Agreement as of the
14th day of June 2010. 

 

			
	MediciNova:
	
	 MediciNova, Inc.,

a Delaware corporation

		
	By:	 	 /s/ Shintaro Asako

	Name:	 	Shintaro Asako
	Title:	 	Chief Financial Officer
	
	 Executive:

		
	By:	 	 /s/ Michael Coffee

	Name:	 	Michael Coffee

  

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 EXHIBIT A 

[attached] 
  

 Exhibit A 

 PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT 

Michael Coffee 
 MediciNova, Inc.

 4350 La Jolla Village Dr., Suite 950 

San Diego, California 92122 
 Ladies and
Gentlemen: 
 I recognize that MediciNova, Inc., a Delaware corporation (“MediciNova”), possesses a body of
existing technology and intellectual property rights and is engaged in a continuous program of research, development and production with respect to its business (present and future). 

I understand that: 
 A. As part
of my employment by MediciNova (with the term “employment”, as used herein, to include any consulting relationship), I am expected to make new contributions and inventions of value to MediciNova. 

B. I understand that my employment creates a relationship of confidence and trust between me and MediciNova and that my position places
me in a unique position of access to the proprietary technology, trade secrets and research, development and business information: 
  

	 	(1)	applicable to the business of MediciNova; or 

  

	 	(2)	applicable to the business of any client, partner or customer of MediciNova, 

which may be made known to me by MediciNova or by any client, partner or customer of MediciNova, or learned by me during the period of my employment.

 C. MediciNova possesses and will continue to possess information that has been or will be created, discovered or developed,
or has or will otherwise become known to MediciNova (including, without limitation, information created, discovered, developed or made known by or to me during the period of or arising out of my employment by MediciNova), and/or in which property
rights have been or will be assigned or otherwise conveyed to MediciNova, which information has commercial value in the business in which MediciNova is engaged. All of the aforementioned information is hereinafter called “Confidential
Information.” By way of illustration, but not limitation, Confidential Information includes all data, compilations, blueprints, plans, audio and/or video recordings and/or devices, information on computer disks, software, tapes, printouts
and other printed, typewritten or handwritten documents, specifications, strategies, systems, schemas, methods (including delivery, storage, receipt, transmission, presentation and manufacture of audio, video, informational or other data or
content), business and marketing development plans, customer lists, research projections, processes, techniques, designs, sequences, components, programs, technology, ideas, know-how, improvements, inventions (whether or not patentable or
copyrightable), information about operations and maintenance, trade secrets, formulae, models, patent disclosures and any other information concerning the actual or anticipated business, research or development of MediciNova or its actual or
potential customers or partners or which is or has been generated or received in confidence by or for MediciNova by or from any person; and all tangible and intangible embodiments thereof of any kind whatsoever including, where appropriate and
without limitation, all compositions, machinery, apparatus, records, reports, drawings, copyright applications, patent applications, documents and samples, prototypes, models, products and the like. 

 

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 In consideration of my employment or continued employment, as the case may be, and the
compensation received by me from MediciNova from time to time, I hereby agree as follows: 
 1. All Confidential Information
shall be the sole property of MediciNova and its assigns, and MediciNova and its assigns shall be the sole owner of all patents, copyrights and other rights in connection therewith. I hereby assign to MediciNova any rights I may have or acquire in
all Confidential Information. At all times during my employment by MediciNova and at all times after termination of such employment, I will keep in confidence and trust all Confidential Information, and I will not disclose, sell, use, lecture upon
or publish any Confidential Information or anything relating to it without the prior written consent of MediciNova, except as may be necessary in the ordinary course of performing my duties as an employee of (or consultant to) MediciNova.

 2. Without limiting the terms of my employment with MediciNova, I agree that during the period of my employment by MediciNova
I will not engage in any employment or activity in any business that is directly or indirectly competitive with MediciNova. 

3. All documents, data, records, apparatus, equipment, sequences, components, programs and other physical property, whether or not
pertaining to Confidential Information, furnished to me by MediciNova or produced by myself or others in connection with my employment shall be and remain the sole property of MediciNova and shall be returned promptly to MediciNova as and when
requested by MediciNova. Should MediciNova not so request, I shall return and deliver all such property upon termination of my employment by me or by MediciNova for any reason (“Termination”) and I will not take with me any such
property, any reproduction of such property or any materials or products derived from such property. 
 4. I shall promptly
disclose any outside activities or interests, including any ownership or participation in the development of prior inventions, that conflict or may conflict with the interests of MediciNova. I understand that I am required to make such disclosures
promptly if the activity or interest is related, either directly or indirectly, to (i) an area of research, development, service, product or product line of MediciNova, (ii) a manufacturing, development or research methodology or process
of MediciNova or (iii) any activity that I may be involved with on behalf of MediciNova. 
 5. I shall promptly disclose to
MediciNova, or any persons designated by it, all improvements, inventions, formulae, processes, programs, techniques, know-how and data, whether or not patentable or copyrightable, made or conceived or reduced to practice or learned by me, either
alone or jointly with others, during the period of my employment with MediciNova which are related to or useful in the business of MediciNova, or result from tasks assigned me by MediciNova, or result from use of premises owned, leased or contracted
for by MediciNova (all said improvements, inventions, formulae, processes, techniques, know-how and data shall be collectively hereinafter called “Inventions”). Such disclosure shall continue for one year after Termination with
respect to anything that would be an Invention if made, conceived, reduced to practice or learned prior to Termination. 
  

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 6. I agree that all Inventions shall be the sole property of MediciNova and its assigns, and
MediciNova and its assigns shall be the sole owner of all patents, copyrights and other rights in connection therewith and all Confidential Information with respect thereto. I hereby assign to MediciNova any and all rights I may have or acquire in
all Inventions, including all rights that may be known as or referred to as “moral rights.” I further agree as to all Inventions to assist MediciNova in every proper way (but at MediciNova’s expense) to obtain and from time to
time enforce patents and copyrights on the Inventions in any and all countries, and to that end I will execute all documents for use in applying for and obtaining such patents and copyrights thereon and enforcing the same, as MediciNova may desire,
together with any assignments thereof to MediciNova or persons designated by it. My obligation to assist MediciNova in obtaining and enforcing patents and copyrights for the Inventions in any and all countries shall continue beyond Termination, but
MediciNova shall compensate me at a reasonable rate after Termination for time actually spent by me at MediciNova’s request on such assistance. In the event that MediciNova is unable for any reason whatsoever to secure my signature to any
lawful and necessary document required to apply for or execute any patent or copyright application with respect to Inventions (including renewals, extension, continuations, divisions or continuations in part thereof), I hereby irrevocably designate
and appoint MediciNova and its duly authorized officers and agents, as my agents and attorneys-in-fact to act for and in my behalf and instead of me, to execute and file any such application and to do all other lawfully permitted acts to further the
prosecution and issuance of patents or copyrights thereon with the same legal force and effect as if executed by me. 
 7. As a
matter of record I have identified beneath by signature hereto a complete list of all inventions or improvements relevant to the subject matter of my employment by MediciNova which have been made or conceived or first reduced to practice by me alone
or jointly with others prior to my employment by MediciNova (“Prior Inventions”) which I desire to remove from the operation of this Agreement; and I covenant that such list is complete. If no such list is identified, I represent
that I have made no such Prior Inventions at the time of the commencement of my employment by MediciNova. Notwithstanding the foregoing, and without limiting the other provisions of this Agreement, I agree that (i) any improvements or new
inventions to the item(s) so identified on such list (if any) shall be treated as Inventions for purposes of this Agreement if the provisions of Section 5 above are otherwise applicable and (ii) if, in the course of my employment with
MediciNova, I incorporate a Prior Invention into a MediciNova product, process, application, machine or invention, the MediciNova is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license (with rights
to sublicense through multiple tiers of sublicensees) to make, have made, modify, use and sell such Prior Invention. Notwithstanding the foregoing, I agree that I will not incorporate, or permit to be incorporated, Prior Inventions in any MediciNova
product, process, application, machine or invention without MediciNova’s prior written consent. 
 8. I represent that my
performance of all the terms of this Agreement and that my employment by MediciNova does not and will not breach or constitute an event of default under any agreement (i) obligating me to keep in confidence proprietary information acquired by
me in confidence or in trust prior to, or at any point throughout, my employment by MediciNova, (ii) obligating me to assign to or protect for the benefit of any third party any proprietary information or any improvement, invention, formulae,
process, program, technique, know-how or data or (iii) that is designed in any way to limit my employment or activity in any business in which I may compete, directly or indirectly, with any other business, or which might by application have
such an effect. I have not entered into, and I agree that I will not enter into, any agreement (either written or oral) in conflict herewith. 
  

 A-3 

 9. I understand, acknowledge and agree that, as part of the consideration for my employment
or continued employment by MediciNova, I have not brought and will not bring with me to MediciNova or use in the performance of my responsibilities at or for MediciNova any equipment, supplies, facility or trade secret or other proprietary
information of any former employer which are not generally available to the public, unless I have obtained (and provide herewith to MediciNova a copy of) written authorization for their possession and use. 

10. I also understand that, in my employment by MediciNova, I am not to breach any obligation of confidentiality that I have to others,
and I agree that I shall fulfill all such obligations during my employment by MediciNova. A copy of any document reflecting any such obligation, or a description thereof if no document is available, is provided herewith to MediciNova. 

11. I agree that during the term of my employment with MediciNova and for a period of twelve (12) months after Termination, I will
not directly or indirectly: (i) induce or attempt to induce any employee or consultant of MediciNova to leave the employ of MediciNova or to otherwise end such employee’s or consultant’s relationships with MediciNova, or
(ii) other than on behalf of MediciNova, induce or attempt to induce any other person to terminate a relationship with MediciNova. 

12. I acknowledge that, due to the uniqueness of my relationship with MediciNova, MediciNova would not have an adequate remedy at law for
money damages in the event that this Agreement is not fully performed in accordance with its terms. I agree that in addition to any other rights and remedies available to MediciNova for any breach by me of my obligations hereunder, MediciNova shall
be entitled to enforcement of my obligations hereunder by court injunction (without the posting of a bond or other security), specific performance or other appropriate equitable relief. 

13. If any provision of this Agreement shall be declared invalid, illegal or unenforceable, such provision shall be severed and all
remaining provisions shall continue in full force and effect. 
 14. If applicable, this Agreement does not apply to inventions
which qualify fully for protection under Section 2870 of the California Labor Code (which, if applicable, could apply to ideas or inventions for which no equipment, supplies, facility or trade secret information of MediciNova were used and
which were developed entirely on my own time, and (1) which do not relate at the time of conception or reduction to practice of the invention (a) to the actual business of MediciNova, or (b) to MediciNova’s actual or demonstrably
anticipated research or development, or (2) which do not result from any work performed by me for MediciNova). Notwithstanding the foregoing, I shall disclose in confidence to MediciNova any invention in order to permit MediciNova to make a
determination as to compliance by me with the terms and conditions of this Agreement. 
  

 A-4 

 15. This Agreement shall be effective as of the first day of my employment by MediciNova.
The term “employment” and the term or duration of my employment, as used herein and for purposes of this Agreement, shall include, without limitation, any consulting relationship between myself and MediciNova (including, if
applicable, any such relationship which may follow the termination of my status as an employee of MediciNova or which may precede my status as an employee of MediciNova). Accordingly, notwithstanding any other provision of this Agreement to the
contrary (and without limitation), a “Termination” shall not be deemed to have occurred if a consulting relationship persists following the termination of my status as an employee of MediciNova (if applicable). 

16. The term MediciNova, as used herein, shall include any subsidiary or affiliate of MediciNova. 

17. This Agreement shall be binding upon me, my heirs, executors, assigns and administrators and shall inure to the benefit of
MediciNova, its successors and assigns. 
 18. This Agreement shall be governed by and construed in accordance with the internal
laws of the State of California, without regard to the conflicts of law principles thereof. 
  

					
	Dated: June 14, 2010	  		  	 /s/ Michael Coffee

		  		  	Name: Michael Coffee
			
	Prior Inventions:	  		  	

 Accepted and Agreed to 

This
14th day of June 2010. 

 

			
	MediciNova, Inc.
		
	By:	 	 /s/ Shintaro Asako

	Name:	 	Shintaro Asako
	Title:	 	Chief Financial Officer

  

 A-5 

 EXHIBIT B 

[attached] 
  

 Exhibit B 

 SEVERANCE PROTECTION AGREEMENT 

SEVERANCE PROTECTION AGREEMENT dated June 14, 2010, by and between MEDICINOVA,
Inc., a Delaware corporation (the “Company”), and Michael Coffee (the “Executive”). 

PURPOSE 

The Board of Directors of the Company (the “Board”) recognizes that the possibility of a Change in Control (as
hereinafter defined) of the Company exists and that the threat or occurrence of a Change in Control may result in the distraction of its key management personnel because of the uncertainties inherent in such a situation. 

The Board has determined that it is essential and in the best interests of the Company and its stockholders to retain the services of the
Executive in the event of the threat or occurrence of a Change in Control and to ensure the Executive’s continued dedication and efforts in such event without undue concern for the Executive’s personal financial and employment security.

 In order to induce the Executive to remain in the employ of the Company, particularly in the event of the threat or
occurrence of a Change in Control, the Company desires to enter into this Agreement to provide the Executive with certain benefits in the event the Executive’s employment is terminated as a result of, or in connection with, a Change in Control.

 NOW, THEREFORE, in consideration of the respective agreements of the parties contained herein, it is agreed as follows:

 SECTION 1. Definitions. 

For purposes of this Agreement, the following terms have the meanings set forth below: 

“Accrued Compensation” means an amount which includes all amounts earned or accrued by the Executive through and
including the Termination Date but not paid to the Executive on or prior to such date, including (a) all base salary, (b) reimbursement for all reasonable and necessary expenses incurred by the Executive on behalf of the Company during the
period ending on the Termination Date, (c) all vacation pay and (d) all bonuses and incentive compensation (other than the Pro Rata Bonus). 

“Base Salary Amount” means the greater of the Executive’s annual base salary (a) at the rate in effect
on the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or
non-qualified employee benefit plan of the Company or any other agreement or arrangement. 
 “Beneficial
Owner” has the meaning as used in Rule 13d-3 promulgated under the Securities Exchange Act. The terms “Beneficially Owned” and “Beneficial Ownership” each have a correlative meaning. 

“Board” means the Board of Directors of the Company. 

 

 B-1 

 “Bonus Amount” means the greater of (a) the annual bonus paid
or payable to the Executive pursuant to any annual bonus or incentive plan maintained by the Company in respect of the fiscal year ending immediately prior to the fiscal year in which the Termination Date occurs, (b) the average of the annual
bonus paid or payable to the Executive pursuant to any annual bonus or incentive plan maintained by the Company in respect of each of the three fiscal years ending immediately prior to the fiscal year in which the Termination Date occurs (or, if
higher, ending in respect of each of the three fiscal years ending immediately prior to the year in which the Change in Control occurs) or (c) in the event that the Executive was not employed by the Company for the entire fiscal year ending
immediately prior to the fiscal year in which the Termination Date occurs, the annual target bonus established and payable to the Executive pursuant to any annual bonus or incentive plan maintained by the Company in respect of the fiscal year ending
during the fiscal year in which the Termination Date occurs. Bonus Amount includes only the short-term incentive portion of the annual bonus and does not include restricted stock awards, options or other long-term incentive compensation awarded to
the Executive. 
 “Cause” for the termination of the Executive’s employment with the Company will
be deemed to exist if (a) the Executive has been convicted for committing an act of fraud, embezzlement, theft or other act constituting a felony (other than traffic related offenses or as a result of vicarious liability), (b) the
Executive willfully engages in illegal conduct or gross misconduct that is significantly injurious to the Company; however, no act or failure to act, on the Executive’s part shall be considered “willful” unless done or omitted to be
done, by the Executive not in good faith and without reasonable belief that his or her action or omission was in the best interest of the Company or (c) failure to perform his or her duties in a reasonably satisfactory manner after the receipt
of a notice from the Company detailing such failure if the failure is incapable of cure, and if the failure is capable of cure, upon the failure to cure such failure within 30 days of such notice or upon its recurrence. 

“Change in Control” of the Company means, and shall be deemed to have occurred upon, any of the following events:

 (a) The acquisition by any Person of beneficial ownership (as defined in Rule 13d-3 of the General Rules and Regulations
under the Securities Exchange Act) of forty percent (40%) or more of the outstanding voting securities; provided, however, that the following acquisitions shall not constitute a Change in Control for purposes of this subparagraph (a):
(A) any acquisition directly from the Company; (B) any acquisition by the Company or any of its Subsidiaries; (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its
Subsidiaries; or (D) any acquisition by any corporation pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subparagraph (c) below; or 

(b) Individuals who, as of January 1, 2010, constitute the Board (the “Incumbent Board”) cease for any reason to
constitute at least a majority of the Board; provided, however, that any individual who becomes a director of the Company subsequent to January 1, 2010, and whose election, or whose nomination for election by the Company’s stockholders, to
the Board was either (i) approved by a vote of at least a majority of the directors then comprising the Incumbent Board or (ii) recommended by a nominating committee comprised entirely of directors who are then Incumbent Board members
shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as
such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Securities Exchange Act), other actual or threatened solicitation of proxies or consents or an actual or threatened tender offer; or 

 

 B-2 

 (c) Consummation of a reorganization, merger, or consolidation or sale or other disposition
of all or substantially all of the assets of the Company (a “Business Combination”), in each case unless following such Business Combination, (i) all or substantially all of the Persons who were the Beneficial Owners,
respectively, of the outstanding shares and outstanding voting securities immediately prior to such Business Combination own, directly or indirectly, more than fifty percent (50%) of the combined voting power of the then outstanding voting
securities entitled to vote generally in the election of directors of the Company, as the case may be, of the entity resulting from the Business Combination (including, without limitation, an entity which as a result of such transaction owns the
Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the outstanding voting
securities (provided, however, that for purposes of this clause (i) any shares of common stock or voting securities of such resulting entity received by such Beneficial Owners in such Business Combination other than as the result of such
Beneficial Owners’ ownership of outstanding shares or outstanding voting securities immediately prior to such Business Combination shall not be considered to be owned by such Beneficial Owners for the purposes of calculating their percentage of
ownership of the outstanding common stock and voting power of the resulting entity); (ii) no Person (excluding any entity resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such entity
resulting from the Business Combination) beneficially owns, directly or indirectly, forty percent (40%) or more of the combined voting power of the then outstanding voting securities of such entity resulting from the Business Combination unless
such Person owned forty percent (40%) or more of the outstanding shares or outstanding voting securities immediately prior to the Business Combination; and (iii) at least a majority of the members of the Board of the entity resulting from
such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or the action of the Board, providing for such Business Combination; or 

(d) Approval by the Company’s stockholders of a complete liquidation or dissolution of the Company. 

For purposes of clause (c), any Person who acquires outstanding voting securities of the entity resulting from the Business Combination by virtue of
ownership, prior to such Business Combination, of outstanding voting securities of both the Company and the entity or entities with which the Company is combined shall be treated as two Persons after the Business Combination, who shall be treated as
owning outstanding voting securities of the entity resulting from the Business Combination by virtue of ownership, prior to such Business Combination of, respectively, outstanding voting securities of the Company, and of the entity or entities with
which the Company is combined. 
 “Code” means the Internal Revenue Code of 1986, as amended.

  

 B-3 

 “Company” means MEDICINOVA,
INC., a Delaware corporation, provided that in recognition of the fact that the Executive may be employed by a direct or indirect Subsidiary of MEDICINOVA, INC., the term
“Company” when referring to the employment relationship and the compensation or benefits related thereto shall include the employer of Executive as the context requires. 

“Continuation Period” has the meaning set forth in Section 3.1(b)(iii). 

“Disability” means the status of disability determined conclusively by the Company based upon certification of
disability by the Social Security Administration or upon such other proof as the Company may reasonably require, effective upon receipt of such certification or other proof by the Company. 

“Full Release” means a written release, timely executed so that it is fully effective as of the date of payment
pursuant to Section 3.1(b)(ii), in a form satisfactory to the Company and counsel pursuant to which the Executive fully and completely releases the Company from any and all claims that the Executive may have against the Company or its
affiliates (other than any claims that may or have arisen under this Agreement). 
 “Good Reason” means
the occurrence of any of the events or conditions described in clauses (a) through (e) hereof, without the Executive’s prior written consent: 

(a) (i) any material adverse change in the Executive’s status, position or responsibilities (including reporting responsibilities)
from the Executive’s status, position or responsibilities as in effect at any time within 180 days preceding the date of the Change in Control or at any time thereafter, (ii) any assignment to the Executive of duties or responsibilities
which are materially and adversely inconsistent with the Executive’s status, position or responsibilities as in effect at any time within 180 days preceding the date of the Change in Control or at any time thereafter or (iii) in the case
of an Executive who is an executive officer of the Company a significant portion of whose responsibilities relate to the Company’s status as a public company, the failure of such Executive to continue to serve as an executive officer of a
public company, in each case except in connection with the termination of the Executive’s employment for Disability, Cause, as a result of the Executive’s death or by the Executive other than for Good Reason; 

(b) a material reduction in Executive’s base salary; 

(c) the imposition of a requirement that the Executive be based at any place outside a 50-mile radius from the Executive’s principal
place of employment immediately prior to the Change in Control, except for reasonably required travel on Company business which is not materially greater in frequency or duration than prior to the Change in Control; 

(d) any material breach by the Company of any provision of this Agreement or any other agreement to which the Company and the Executive
are parties; or 
 (e) the failure of the Company to obtain, as contemplated in Section 7, an agreement, reasonably
satisfactory to the Executive, from any Successor to assume and agree to perform this Agreement. 
  

 B-4 

 Notwithstanding anything to the contrary in this Agreement, no termination will be deemed to be for Good
Reason hereunder if it results from an action not taken by the Company in bad faith and which is remedied by the Company within 30 days after receipt of notice thereof given by the Executive. 

“Notice of Termination” means a written notice from the Company or the Executive of the termination of the
Executive’s employment which indicates the specific termination provision in this Agreement relied upon and which sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated. Any such notice given by Executive of a termination for Good Reason shall be given within 90 days of the occurrence giving rise to such termination for Good Reason. 

“Person” has the meaning as defined in Section 3(a)(9) of the Securities Exchange Act and used in
Section 13(d) or 14(d) of the Securities Exchange Act, and will include any “group” as such term is used in such sections. 

“Pro Rata Bonus” means an amount equal to the Bonus Amount multiplied by a fraction, the numerator of which is
the number of days elapsed in the then fiscal year through and including the Termination Date and the denominator of which is 365. 

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

“Subsidiary” means any corporation with respect to which another specified corporation has the power under
ordinary circumstances to vote or direct the voting of sufficient securities to elect a majority of the directors. 

“Successor” means a corporation or other entity acquiring all or substantially all the assets and business of the
Company, whether by operation of law, by assignment or otherwise. 
 “Termination Date” means
(a) in the case of the Executive’s death, the Executive’s date of death, (b) in the case of the termination of the Executive’s employment with the Company by the Executive for Good Reason, five days after the date the Notice
of Termination is received by the Company, and (c) in all other cases, the date specified in the Notice of Termination; provided that if the Executive’s employment is terminated by the Company for Cause or due to Disability, the date
specified in the Notice of Termination will be at least 30 days after the date the Notice of Termination is given to the Executive. 

SECTION 2. Term of Agreement. 

The term of this Agreement (the “Term”) will commence on June 14, 2010, and will continue in effect until
December 31, 2010; provided that on December 31, 2010 and each anniversary of such date thereafter, the Term shall automatically be extended for one additional year unless, not later than October 1 of such year, the Company or the
Executive shall have given notice not to extend the Term; and further provided that in the event a Change in Control occurs during the Term, the Term will be extended to the date 24 months after the date of the occurrence of such Change in Control.

 Notwithstanding the foregoing and subject to Section 3.2, the Term shall be deemed to have immediately expired without
any further action and this Agreement will immediately terminate and be of no further effect if any of the following events occurs prior to a Change in Control: 

(a) the Executive’s employment with the Company is terminated (whether by the Company or the Executive) for any reason; 

 

 B-5 

 (b) the Executive’s employment is not terminated but there is a change in his or her
status, position or responsibilities (including reporting responsibilities) from that which applied to Executive on the date of this Agreement; or 

(c) the Executive reaches the mandatory retirement age applicable to the Company’s executive officers under any stated policy of the
Company, as may be adopted and revised from time to time by the Board. 
 SECTION 3. Termination of Employment. 

 3.1. If, during the Term, the Executive’s employment with the Company is terminated within 12 months following a Change
in Control, the Executive will be entitled to the following compensation and benefits: 
 (a) If the Executive’s employment
with the Company is terminated (i) by the Company for Cause or Disability, (ii) by reason of the Executive’s death or (iii) by the Executive other than for Good Reason, the Company will pay to the Executive the Accrued
Compensation and, if such termination is other than by the Company for Cause, a Pro Rata Bonus, such amount will be paid in a single lump sum cash payment by the Company to the Executive within five days after the Termination Date. 

(b) If the Executive’s employment with the Company is terminated (whether by the Company or the Executive) for any reason other than
as specified in Section 3.1(a), the Executive will be entitled to the following: 
 (i) the Company will pay
the Executive all Accrued Compensation and a Pro Rata Bonus, such amounts will be paid in a single lump sum cash payment by the Company to the Executive within five days after the Termination Date; 

(ii) subject to Section 18, and subject to the Executive providing the Company with (and not
revoking) a Full Release within such period as the Company may require (but not in excess of 60 days following the Termination Date, taking into account any applicable period for revocation), the Company will pay the Executive as severance pay, and
in lieu of any further compensation for periods subsequent to the Termination Date, in a single payment an amount in cash equal to two (2) times the sum of (A) the Base Salary Amount and (B) the Bonus Amount, such amount will be paid
in a single lump sum cash payment by the Company to the Executive on the
60th day following the Termination Date; 

 

 B-6 

 (iii) subject to Section 18, and subject to the Executive providing the
Company with (and not revoking) a Full Release and complying with his or her obligations under Section 6, the Company will, for a period of 24 months (the “Continuation Period”), at its expense provide to the Executive and the
Executive’s dependents and beneficiaries the same or equivalent life insurance, disability, medical, dental, and hospitalization benefits (the “Continuation Period Benefits”) provided at Company expense to other similarly
situated executives who continue in the employ of the Company during the Continuation Period (“similarly situated executives”). The obligations of the Company to provide the Executive and the Executive’s dependents and beneficiaries
with the Continuation Period Benefits shall not restrict or limit the Company’s right to terminate or modify the benefits made available by the Company to its similarly situated executives or other employees and following any such termination
or modification, the Continuation Period Benefits that Executive (and the Executive’s dependents and beneficiaries) shall be entitled to receive shall be so terminated or modified. The Company’s obligation hereunder with respect to the
foregoing benefits will be limited to the extent that the Executive obtains any such benefits pursuant to a subsequent employer’s benefit plans, in which case the Company may reduce the coverage of any benefits it is required to provide the
Executive hereunder as long as the coverages and benefits of the combined benefit plans are no less favorable to the Executive than the coverages and benefits required to be provided hereunder. This Section 3.1(b)(iii) will not be interpreted
so as to limit any benefits to which the Executive or the Executive’s dependents or beneficiaries may be entitled under any of the Company’s employee benefit plans, programs or practices following the Executive’s termination of
employment; 
 (iv) the Company shall provide the Executive with reasonable outplacement services suitable to the
Executive’s position for a period of 12 months or, if earlier, until the first acceptance by the Executive of an offer of employment; and 

(v) such other acceleration of vesting and other benefits provided in other Company plans or agreements regarding options
to purchase Company stock, restricted stock, deferral of stock or other equity compensation awards granted to or otherwise applicable to Executive. 

(c) To the extent necessary to comply with Code Section 409A, any such payment, reimbursements or in-kind benefits to be paid or
provided to the Executive under Section 3.1(b)(iii) and/or Section 3.1(b)(iv), shall be paid or provided as soon as practical following submission by the Executive of a reimbursement request but no later than the end of the third calendar
year following the calendar year in which the Termination Date occurs and no benefit will be paid or provided if the Executive incurs such cost after the end of the second calendar year following the calendar year in which the Termination Date
occurs. 
 (d) The Executive will not be required to mitigate the amount of any payment provided for in this Agreement by
seeking other employment or otherwise, and no such payment will be offset or reduced by the amount of any compensation or benefits provided to the Executive in any subsequent employment, except as specifically provided in Section 3.1(b)(iii)
and 3.1(b)(iv). 
 3.2. Notwithstanding anything in this Agreement to the contrary, if, within the 30 days immediately preceding
a Change in Control, (i) the Executive’s employment is terminated (whether by the Company or the Executive) for any reason other than as specified in Section 3.1(a), or (ii) (A) there is a material adverse change in the
Executive’s status, position or responsibilities (including reporting responsibilities) from that which applied to Executive on the date of this Agreement, and (B) the Executive’s employment with the Company is subsequently terminated
within 24 months following a Change in Control (whether by the Company or the Executive) for any reason other than as specified in Section 3.1(a), the Executive shall be entitled to receive the benefits provided in Section 3.1(b), as
subject to Section 18. 
  

 B-7 

 3.3. Except as otherwise noted herein, the compensation to be paid to the Executive pursuant
to Sections 3.1(a), 3.1(b)(i) and 3.1(b)(ii) of this Agreement (whether by reason of Section 3.1(c) or Section 3.2) will be in lieu of any similar severance or termination compensation (i.e., compensation based directly on the
Executive’s annual salary or annual salary and bonus) to which the Executive may be entitled under any other Company severance or termination agreement, plan, program, policy, practice or arrangement. With respect to any other compensation and
benefit to be paid or provided to the Executive pursuant to this Section 3, the Executive will have the right to receive such compensation or benefit as herein provided or, if determined by the Executive to be more advantageous to the
Executive, similar compensation or benefits to which the Executive may be entitled under any other Company severance or termination agreement, plan, program, policy, practice or arrangement. The Executive’s entitlement to any compensation or
benefits of a type not provided in this Agreement will be determined in accordance with the Company’s employee benefit plans and other applicable programs, policies and practices as in effect from time to time. 

SECTION 4. Notice of Termination. Following a Change in Control, any purported termination of the Executive’s employment by the
Company will be communicated by a Notice of Termination to the Executive. For purposes of this Agreement, no such purported termination will be effective without such Notice of Termination. 

SECTION 5. Excise Tax Adjustments. 

5.1. In the event Executive becomes entitled to receive the benefits provided pursuant to Sections 3.1(b) or 3.2 herein, and the Company
determines that such benefits (the “Total Payments”) will be subject to the tax (the “Excise Tax”) imposed by Section 4999 of the Code, or any similar tax that may hereafter be imposed, the Company shall
compute the “Net After-Tax Amount,” and the “Reduced Amount,” and shall adjust the Total Payments as described below. The Net After-Tax Amount shall mean the present value of all amounts payable to the Executive
hereunder, net of all federal income, excise and employment taxes imposed on the Executive by reason of such payments. The Reduced Amount shall mean the largest aggregate amount of the Total Payments that if paid to the Executive would result in the
Executive receiving a Net After-Tax Amount that is equal to or greater than the Net After-Tax Amount that the Executive would have received if all of the Total Payments had been made. If the Company determines that there is a Reduced Amount, the
Total Payments will be reduced to the Reduced Amount. With respect to any such reduction, payments and benefits will be reduced in the following order: first against the latest scheduled cash payments (if necessary, to zero), then against any
current cash payments and benefits (if necessary, to zero), then against any equity or equity derivative payments and benefits (if necessary, to zero) and then to non-cash payments and benefits (other than equity or equity derivative related
payments). 
  

 B-8 

 5.2. For purposes of determining whether the Total Payments will be subject to the Excise
Tax and the amounts of such Excise Tax and for purposes of determining the Reduced Amount and the Net After-Tax Amount: 
 (a)
Any other payments or benefits received or to be received by the Executive in connection with a Change in Control of the Company or the Executive’s termination of employment (whether pursuant to the terms of this Agreement or any other plan,
arrangement, or agreement with the Company, or with any individual, entity, or group of individuals or entities (individually and collectively referred to in this subsection (a) as “Persons”) whose actions result in a change in
control of the Company or any Person affiliated with the Company or such Persons) shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code, and all “excess parachute
payments” within the meaning of Section 280G(b)(1) of the Code shall be treated as subject to the Excise Tax, unless in the opinion of a tax advisor selected by the Company and reasonably acceptable to the Executive (“Tax
Counsel”), such other payments or benefits (in whole or in part) should be treated by the courts as representing reasonable compensation for services actually rendered (within the meaning of Section 280G(b)(4)(B) of the Code), or
otherwise not subject to the Excise Tax; 
 (b) The amount of the Total Payments that shall be treated as subject to the Excise
Tax shall be equal to the lesser of (i) the total amount of the Total Payments; or (ii) the amount of excess parachute payments within the meaning of Section 280G(b)(1) of the Code (after applying clause (a) above); 

(c) In the event that the Executive disputes any calculation or determination made by the Company, the matter shall be determined by Tax
Counsel, the fees and expenses of which shall be borne solely by the Company; and 
 (d) The Executive shall be deemed to pay
federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Total Payments are to be made (or if applicable, to be commenced), and state and local income taxes at the highest marginal rate of
taxation in the state and locality of the Executive’s residence on the effective date of employment, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes, taking into account
the reduction in itemized deduction under Section 68 of the Code. 
 SECTION 6. Covenants of the Executive. During the
Continuation Period following any Change in Control pursuant to which the Executive receives the benefits pursuant to Section 3.1(b)(iii), the Executive covenants and agrees as follows: 

(a) the Executive agrees to comply with his or her obligations under the Proprietary Information and Inventions Agreement that he or she
entered into with the Company; and 
 (b) the Executive acknowledges that the Executive has knowledge of confidential and
proprietary information concerning the current salary, benefits, skills, and capabilities of Company employees and that it would be improper for the Executive to use such Company proprietary information in any manner adverse to the Company’s
interests. The Executive agrees that he or she will not recruit or solicit for employment, directly or indirectly, any employee of the Company during the Continuation Period. 

 

 B-9 

 SECTION 7. Successors; Binding Agreement. 

This Agreement will be binding upon and will inure to the benefit of the Company and its Successors, and the Company will require any
Successors to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession or assignment had taken place. Neither this Agreement nor any right
or interest hereunder will be assignable or transferable by the Executive or by the Executive’s beneficiaries or legal representatives, except by will or by the laws of descent and distribution. This Agreement will inure to the benefit of and
be enforceable by the Executive’s legal representatives. 
 SECTION 8. Fees and Expenses. 

The Company will pay as they become due all legal fees and related expenses (including the costs of experts) incurred by the Executive, in
good faith, in (a) contesting or disputing, any such termination of employment and (b) seeking to obtain or enforce any right or benefit provided by this Agreement or by any other plan or arrangement maintained by the Company under which
the Executive is or may be entitled to receive benefits. Any such reimbursements under this Section 8 shall be made as soon as practicable following submission of a reimbursement request, but no later than the end of the year following
the year during which the underlying expense was incurred. If the dispute is resolved by a final decision of an arbitrator pursuant to Section 15 in the favor of the Company, the Executive shall reimburse the Company for all such legal fees and
related expenses (including costs of experts) paid by the Company on behalf of the Executive. 
 SECTION 9. Notice. 

 For the purposes of this Agreement, notices and all other communications provided for in the Agreement (including the Notice
of Termination) will be in writing and will be deemed to have been duly given when personally delivered or sent by certified mail, return receipt requested, postage prepaid, addressed to the respective addresses last given by each party to the
other, provided that all notices to the Company will be directed to the attention of the Board with a copy to the Secretary of the Company. All notices and communications will be deemed to have been received on the date of delivery thereof or on the
third business day after the mailing thereof, except that notice of change of address will be effective only upon receipt. 
 SECTION 10.
Dispute Concerning Termination. 
 If prior to the Date of Termination (as determined without regard to
this Section 10), the party receiving the Notice of Termination notifies the other party that a dispute exists concerning the termination, the Date of Termination shall be extended until the earlier of (i) the date on which the Term ends
or (ii) the date on which the dispute is finally resolved, either by mutual written agreement of the parties or by a final judgment, order or decree of an arbitrator or a court of competent jurisdiction (which is not appealable or with respect
to which the time for appeal therefrom has expired and no appeal has been perfected); provided, however, that the Date of Termination shall be extended by a notice of dispute given by the Executive only if such notice is given in good faith and the
Executive pursues the resolution of such dispute with reasonable diligence. 
  

 B-10 

 SECTION 11. Compensation During Dispute. 

If a purported termination occurs following a Change in Control and during the Term and the Date of Termination is extended in accordance
with Section 10 hereof, the Company shall continue to pay the Executive the full compensation in effect when the notice giving rise to the dispute was given (including, but not limited to, salary) and continue the Executive as a participant in
all compensation, benefit and insurance plans in which the Executive was participating when the Notice of Termination was given, until the Date of Termination, as determined in accordance with Section 10 hereof. Amounts paid under this
Section 11 are in addition to all other amounts due under this Agreement and shall not be offset against or reduce any other amounts due under this Agreement or otherwise. 

SECTION 12. Nonexclusivity of Rights. 

Nothing in this Agreement will prevent or limit the Executive’s continuing or future participation in any benefit, bonus, incentive
or other plan or program provided by the Company for which the Executive may qualify, nor will anything herein limit or reduce such rights as the Executive may have under any other agreements with the Company (except for any severance or termination
provision included in any Employment Agreement covering the Executive, which in circumstances under which amounts become payable under Section 3.1(b) hereof shall be deemed superseded completely by this Agreement and of no further force and
effect). Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any plan or program of the Company will be payable in accordance with such plan or program, except as specifically modified by this Agreement.

 SECTION 13. No Set-Off. 

The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder will
not be affected by any circumstances, including any right of set-off, counterclaim, recoupment, defense or other right which the Company may have against the Executive or others. 

SECTION 14. Miscellaneous. 

No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing
and signed by the Executive and the Company. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party will be deemed
a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreement or representation, oral or otherwise, express or implied, with respect to the subject matter hereof has been made by either party
which is not expressly set forth in this Agreement. 
 SECTION 15. Governing Law and Binding Arbitration.

 This Agreement will be governed by and construed and enforced in accordance with the laws of the State of Delaware without
giving effect to the conflict of laws principles thereof. All disputes relating to this Agreement, including its enforceability, shall be resolved by final and binding arbitration before an arbitrator appointed by the Judicial Arbitration and
Mediation Service (JAMS), with the arbitration to be held in San Diego, California. Judgment upon the award may be entered in any court having jurisdiction thereof. 

 

 B-11 

 SECTION 16. Severability. 

The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the
validity or enforceability of the other provisions hereof. 
 SECTION 17. Entire Agreement. 

This Agreement constitutes the entire agreement between the parties hereto and supersedes all prior agreements, if any, understandings and
arrangements, oral or written, between the parties hereto with respect to severance protection in connection with a Change in Control. 

SECTION 18. Section 409A. 

18.1. Notwithstanding any provision to the contrary in this Agreement, the Company shall delay the commencement of payments or benefits
coverage to which the Executive would otherwise become entitled under the Agreement in connection with his termination of employment until the earlier of (i) the expiration of the six-month period measured from the date of the Executive’s
“separation from service” with the Company (as such term is defined in Treasury Regulations issued under Section 409A of the Code) or (ii) the date of the Executive’s death, if and only if the Company in good faith
determines that the Executive is a “specified employee” within the meaning of that term under Code Section 409A at the time of such separation from service and that such delayed commencement is otherwise required in order to
avoid a prohibited distribution under Section 409A(a)(2) of the Code. Upon the expiration of the applicable Code Section 409A(a)(2) deferral period, all payments and benefits deferred pursuant to this Section 18 (whether they would
have otherwise been payable in a single sum or in installments in the absence of such deferral) shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under the Agreement shall be paid or provided in
accordance with the normal payment dates specified for them herein. 
 18.2. The provisions of this Agreement which require
commencement of payments or benefits coverage subject to Section 409A upon a termination of employment shall be interpreted to require that the Executive have a “separation from service” with the Company (as such term is
defined in Treasury Regulations issued under Code Section 409A). 
 18.3. The provisions of this Section 18 are
intended to assure that any benefits provided to Executive hereunder shall comply with Code Section 409A and this Agreement shall be interpreted consistent with such section in all respects. 

 

 B-12 

 IN WITNESS WHEREOF, the undersigned have executed the above agreement as of the date set
forth first above. 
  

			
	MEDICINOVA, INC.,
	A Delaware Corporation
		
	By:	 	 /s/ Shintaro Asako

		 	Shintaro Asako
		 	Chief Financial Officer

  

	
	EXECUTIVE
	
	 /s/ Michael Coffee

	Michael Coffee

  

 B-13Amended and Restated Investors' Rights Agreement

 Exhibit 4.2 

INPHI CORPORATION 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 
  

January 30, 2008 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	 	  	Page
	1.	 	Registration Rights	  	1
		 	1.1	  	Definitions	  	1
		 	1.2	  	Request for Registration	  	2
		 	1.3	  	Company Registration	  	4
		 	1.4	  	Obligations of the Company	  	4
		 	1.5	  	Furnish Information	  	5
		 	1.6	  	Expenses of Demand and S-3 Registration	  	6
		 	1.7	  	Expenses of Company Registration	  	6
		 	1.8	  	Underwriting Requirements	  	6
		 	1.9	  	Delay of Registration	  	7
		 	1.10	  	Indemnification	  	7
		 	1.11	  	Reports Under Securities Exchange Act of 1934	  	9
		 	1.12	  	Form S-3 Registration	  	10
		 	1.13	  	Assignment of Registration Rights	  	11
		 	1.14	  	Limitations on Subsequent Registration Rights	  	11
		 	1.15	  	Market Stand-Off Agreement	  	11
		 	1.16	  	Termination of Registration Rights	  	12
			
	2.	 	Covenants of the Company	  	12
		 	2.1	  	Delivery of Financial Statements	  	12
		 	2.2	  	Inspection Covenants	  	13
		 	2.3	  	Termination of Information and Inspection Covenants	  	13
		 	2.4	  	Right of First Offer	  	13
		 	2.5	  	Qualified Small Business	  	15
		 	2.6	  	Employee and Other Stock Arrangements	  	16
		 	2.7	  	Proprietary Information Agreements	  	16
		 	2.8	  	Assignment of Right of First Refusal	  	16
			
	3.	 	Miscellaneous	  	17
		 	3.1	  	Successors and Assigns	  	17
		 	3.2	  	Governing Law	  	17
		 	3.3	  	Counterparts	  	17
		 	3.4	  	Titles and Subtitles	  	17
		 	3.5	  	Notices	  	17
		 	3.6	  	Expenses	  	17
		 	3.7	  	Amendments and Waivers	  	17
		 	3.8	  	Severability	  	18
		 	3.9	  	Aggregation of Stock	  	18
		 	3.10	  	Entire Agreement	  	18
		 	3.11	  	Recapitalizations, Etc	  	18
		 	3.12	  	Additional Parties	  	18

 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (“Agreement”) is made as of the 30
th day of January, 2008, by and among Inphi Corporation, a
Delaware corporation (the “Company”), the investors listed on Schedule A hereto, each of whom is herein referred to as an “Investor,” and the founders listed on Schedule B hereto, each of
which is herein referred to as a “Founder.” 
 WHEREAS, the Company and certain of the Investors are
parties to that certain Series E Preferred Stock Purchase Agreement dated as of January 30, 2008 (the “Series E Agreement”); 

WHEREAS, the Company previously entered into an Amended and Restated Investors Rights Agreement dated as of November 3, 2005, among
the Company, certain of the Investors and the Founders (the “Prior Agreement”); and 
 WHEREAS, the
Investors and the Company hereby agree that this Agreement shall govern the rights of the Investors to cause the Company to register shares of the Company’s Common Stock (the “Common Stock”) issuable to the Investors and
certain other matters as set forth herein and, upon the effectiveness of this Agreement, the Prior Agreement shall be terminated and have no further force or effect. 

NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS: 

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

1.1 Definitions. For purposes of this Section 1: 

(a) The term “Act” means the Securities Act of 1933, as amended. 

(b) The term “Form S-3” means such form under the Act as in effect on the date hereof or any registration form
under the Act subsequently adopted by the SEC which permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the SEC. 

(c) The term “Holder” means any person owning or having the right to acquire Registrable Securities (subject to
the limitations set forth in the definition thereof) or any assignee thereof in accordance with Section 1.13 hereof. 
 (d)
The term “IPO” shall mean the first sale of the Common Stock of the Company to the public pursuant to an effective registration statement filed under the Securities Act of 1933, as amended (other than a registration statement
relating either to the sale of Common Stock to employees of the Company pursuant to a stock option, stock purchase or similar plan or an SEC Rule 145 transaction). 

(e) The term “1934 Act” shall mean the Securities Exchange Act of 1934, as amended. 

 

 1 

 (f) The term “Preferred Stock” shall mean the Company’s Series
A Preferred Stock (the “Series A Preferred Stock”), the Company’s Series B Preferred Stock (the “Series B Preferred Stock”), the Company’s Series C Preferred Stock (the “Series C
Preferred Stock”), the Company’s Series D Preferred Stock (the “Series D Preferred Stock”) and the Company’s Series E Preferred Stock (the “Series E Preferred Stock”).

 (g) The term “register,” “registered” and
“registration” refer to a registration effected by preparing and filing a registration statement or similar document in compliance with the Act, and the declaration or ordering of effectiveness by the SEC of such registration
statement or document. 
 (h) The term “Registrable Securities” means (i) the Common Stock issuable
or issued upon conversion of the Company’s Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock or Series E Preferred Stock; (ii) the Common Stock issuable or issued upon exercise of the
warrants as listed on Schedule 1.1(h) hereto (the “Warrants”) and (iii) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is
issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of the shares referenced in (i) - (ii) above, excluding in all cases, however, any Registrable Securities sold by a person in a transaction in which
his rights under this Section 1 are not assigned. 
 (i) The number of shares of “Registrable Securities then
outstanding” shall be determined by the number of shares of Common Stock outstanding which are, and the number of shares of Common Stock issuable pursuant to then exercisable or convertible securities which are, Registrable Securities.

 (j) The term “SEC” shall mean the Securities and Exchange Commission. 

1.2 Request for Registration. 

(a) If the Company shall receive at any time after the earlier of (i) the Company’s initial public offering, or
(ii) January 30, 2011 (but not within 6 months of the effective date of a registration), a written request from the Holders of at least thirty percent (30%) of the Registrable Securities then outstanding that the Company file a
registration statement under the Act covering the registration of at least twenty percent (20%) of the Registrable Securities then outstanding (or a lesser percentage if the anticipated aggregate offering price would exceed $10,000,000), then
the Company shall: 
 (i) within ten (10) days of the receipt thereof, give written notice of such request to all Holders;
and 
 (ii) use its best efforts to effect as soon as practicable, the registration under the Act of all Registrable Securities
which the Holders request to be registered, subject to the limitations of subsection 1.2(b). 
  

 2 

 (b) If the Holders initiating the registration request hereunder (“Initiating
Holders”) intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to subsection 1.2(a) and the Company shall include
such information in the written notice referred to in subsection 1.2(a). The underwriter will be selected by the Company and shall be reasonably acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder
to include his Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting (unless otherwise mutually
agreed by a majority in interest of the Initiating Holders and such Holder) to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided in subsection
1.4(e)) enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting. Notwithstanding any other provision of this Section 1.2, if the underwriter advises the Initiating Holders in
writing that marketing factors require a limitation of the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the number
of shares of Registrable Securities that may be included in the underwriting shall be allocated among all Holders thereof, including the Initiating Holders, in proportion (as nearly as practicable) to the amount of Registrable Securities of the
Company owned by each Holder; 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. 

(c) Notwithstanding the foregoing, if the Company shall furnish to Holders requesting a registration statement pursuant to this
Section 1.2, a certificate signed by the Chief Executive Officer of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company and its stockholders for such
registration statement to be filed and it is therefore essential to defer the filing of such registration statement, the Company shall have the right to defer taking action with respect to such filing for a period of not more than ninety
(90) days after receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this right more than once in any twelve-month period. 

(d) In addition, the Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to this
Section 1.2: 
 (i) After the Company has effected two registrations pursuant to this Section 1.2 and such
registrations have been declared or ordered effective and the securities offered pursuant to such registration have been sold; or 

(ii) 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 one hundred eighty (180) days after the effective date of, a registration subject to Section 1.3 hereof; provided that (A) the Company is actively employing in good faith all reasonable efforts to cause such
registration statement to become effective and (B) the Company provides prior written notice to the Initiating Holders of any registration request of its intent to file a registration statement. 

 

 3 

 1.3 Company Registration. If (but without any obligation to do so) the Company
proposes to register (including for this purpose a registration effected by the Company for stockholders other than the Holders) any of its Common Stock under the Act in connection with the public offering of such securities solely for cash (other
than a registration relating solely to the sale of Common Stock to participants in a Company stock plan, a registration on any form which does not include substantially the same information as would be required to be included in a registration
statement covering the sale of the Registrable Securities or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities which are also being registered), the Company shall, at such
time, promptly give each Holder written notice of such registration. Upon the written request of each Holder given within twenty (20) days after mailing of such notice by the Company in accordance with Section 3.5, the Company shall,
subject to the provisions of Section 1.8, cause to be registered under the Act all of the Registrable Securities that each such Holder has requested to be registered. 

1.4 Obligations of the Company. Whenever required under this Section 1 to effect the registration of any Registrable
Securities, the Company shall, as expeditiously as reasonably possible: 
 (a) Prepare and file with the SEC a registration
statement with respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep
such registration statement effective for a period of up to one hundred twenty (120) days or until the distribution contemplated in the Registration Statement has been completed; provided, however, that in the case of any registration of
Registrable Securities on Form S-3 which are intended to be offered on a continuous or delayed basis, such 120-day period shall be extended, if necessary, to keep the registration statement effective until all such Registrable Securities are sold,
provided that Rule 415, or any successor rule under the Act, permits an offering on a continuous or delayed basis, and provided further that applicable rules under the Act governing the obligation to file a post-effective amendment permit, in lieu
of filing a post-effective amendment which (i) includes any prospectus required by Section 10(a)(3) of the Act or (ii) reflects facts or events representing a material or fundamental change in the information set forth in the
registration statement, the incorporation by reference of information required to be included in (i) and (ii) above to be contained in periodic reports filed pursuant to Section 13 or 15(d) of the 1934 Act in the registration
statement. 
 (b) Prepare and file with the SEC and furnish to the Holders 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 Act with respect to the disposition of all securities covered by such registration statement. 

(c) Furnish to the Holders such numbers of copies of a prospectus, including all amendments thereto, and including a preliminary
prospectus, in conformity with the requirements of the Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them. 

(d) Use its best efforts to register and qualify the securities covered by such registration statement under such other securities or
“Blue Sky” laws of such jurisdictions as shall be reasonably requested by the 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. 
  

 4 

 (e) In the event of any underwritten public offering, enter into and perform its obligations
under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering. Each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement. 

(f) Promptly notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus relating
thereto is required to be delivered under the 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 in the light of the circumstances then existing or, if for any other reason it shall be necessary at such time to amend or supplement the
registration statement or the prospectus in order to comply with the Act. 
 (g) Cause all such Registrable Securities
registered pursuant hereunder to be listed on each securities exchange on which similar securities issued by the Company are then listed. 

(h) Provide a transfer agent and registrar for all Registrable Securities registered pursuant hereunder and a CUSIP number for all such
Registrable Securities, in each case not later than the effective date of such registration. 
 (i) Use its reasonable best
efforts to furnish, at the request of any Holder requesting registration of Registrable Securities pursuant to this Section 1, on the date that such Registrable Securities are delivered to the underwriters for sale in connection with a
registration pursuant to this Section 1, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the date that the registration statement with respect to such securities becomes
effective, (a) 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 (b) 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 (to the extent the then applicable standards of
professional conduct permit said letter to be addressed to the Holders). 
 1.5 Furnish Information. 

(a) It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section 1 with respect to
the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as shall be required
to effect the registration of such Holder’s Registrable Securities. 
  

 5 

 (b) The Company shall have no obligation with respect to any registration requested pursuant
to Section 1.2 or Section 1.12 if, due to the operation of subsection 1.5(a), the number of shares or the anticipated aggregate offering price of the Registrable Securities to be included in the registration does not equal or exceed the
number of shares or the anticipated aggregate offering price required to originally trigger the Company’s obligation to initiate such registration as specified in subsection 1.2(a) or subsection 1.12(b)(2), whichever is applicable. 

1.6 Expenses of Demand and S-3 Registration. All expenses (other than underwriting discounts and commissions applicable to the
sale of Registrable Securities (the “Selling Expenses”)) incurred in connection with registrations, filings or qualifications pursuant to Section 1.2 and 1.12, including (without limitation) all registration, filing and
qualification fees, printers’ and accounting fees, fees and disbursements of counsel for the Company, and the reasonable fees and disbursements of one counsel for the selling Holders selected by Holders selling a majority of the subject
Registrable Securities and reasonably acceptable to the Company, shall be borne by the Company (the “Registration Expenses”); provided, however, that the Company shall not be required to pay for any expenses of any
registration proceeding begun pursuant to Section 1.2 or 1.12 if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all participating
holders shall bear such expenses in proportion to the number of shares for which registration was requested), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to a demand registration pursuant to
Section 1.2 in which event such right shall be forfeited by all Holders; provided further, however, that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business, or prospects of the
Company not known to the Holders at the time of their request and have withdrawn the request in good faith as a result of such change with reasonable promptness following disclosure of such material adverse change, then the Holders shall not be
required to pay any of such expenses and shall retain their rights pursuant to Section 1.2. All Selling Expenses relating to the Registrable Securities so registered shall be borne by holders of such securities and, if it participates, the
Company, pro rata on the basis of the number of shares of Registrable Securities so registered on their behalf. 
 1.7
Expenses of Company Registration. All expenses (other than Selling Expenses) incurred in connection with any registrations, filings or qualifications of Registrable Securities pursuant to this Agreement (other than those pursuant to Sections
1.2 or 1.12), including (without limitation) all registration, filing, and qualification fees, printers’ and accounting fees relating or apportionable thereto and the fees and disbursements of counsel for the Company, and the reasonable fees
and disbursements of one counsel for the selling Holders selected by Holders selling a majority of the subject Registrable Securities and reasonably acceptable to the Company, shall be borne by the Company. All Selling Expenses relating to the
Registrable Securities so registered shall be borne by holders of such securities and, if it participates, the Company, pro rata on the basis of the number of shares of Registrable Securities so registered on their behalf. 

1.8 Underwriting Requirements; Allocation of Registration Opportunity. In connection with any offering involving an underwriting
of shares of the Company’s capital stock, the Company shall not be required under Section 1.3 to include any of the Holders’ securities in such underwriting unless they accept the terms of the underwriting as agreed upon between the
Company and the underwriters selected by it (or by other persons entitled to select the underwriters) and then only in such quantity as the underwriters determine in their sole discretion will not jeopardize the success of the offering by the
Company. If the total amount of securities, including Registrable Securities, requested by stockholders to be included in such 

 

 6 

 
offering exceeds the amount of securities sold other than by the Company that the underwriters determine in their sole discretion is compatible with the success of the offering, then the Company
shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters determine in their sole discretion will not jeopardize the success of the offering (the securities so included
to be apportioned pro rata among the selling stockholders according to the total amount of securities entitled to be included therein owned by each selling Holder or in such other proportions as shall mutually be agreed to by such selling
stockholders) but in no event shall (i) the amount of securities of the selling Holders included in the offering be reduced below thirty percent (30%) of the total amount of securities included in such offering, unless such offering is the
initial public offering of the Company’s securities, in which case the selling stockholders may be entirely excluded if the underwriters make the determination described above and no other stockholder’s securities are included,
(ii) the amount of securities of the selling Holders included in the offering be reduced unless all of the securities of the Founders and any other non-Holder stockholder of the Company are first excluded from the offering, or
(iii) notwithstanding (i) and (ii) above, any shares being sold by a stockholder exercising a demand registration right similar to that granted in Section 1.2 are excluded from such offering. For purposes of the preceding
parenthetical concerning apportionment, for any selling stockholder which is a holder of Registrable Securities and which is a partnership or corporation, the partners, retired partners and stockholders of such holder, or the estates and family
members of any such partners and retired partners and any trusts for the benefit of any of the foregoing persons shall be deemed to be a single selling stockholder, and any pro-rata reduction with respect to such selling stockholder shall be based
upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in such selling stockholder, as defined in this sentence. 

1.9 Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any
such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 1. 

1.10 Indemnification. In the event any Registrable Securities are included in a registration statement under this Section 1:

 (a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, any underwriter (as defined in
the Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Act or the 1934 Act, and such parties’ counsel against any losses, claims, damages, or liabilities (joint or several) to which
they may become subject under the Act, the 1934 Act or other federal or state law insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or
violations or alleged statements, omissions or violations (collectively a “Violation”): (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement, including any
preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements
therein not misleading, or (iii) any violation or alleged violation by the Company of the Act, the 1934 Act or other federal or state law, or any rule or regulation promulgated under the Act, the 1934 Act or other federal or state law; and the
Company will pay to each such Holder, underwriter or controlling person, as incurred, any legal or other expenses reasonably incurred by them in connection with investigating or defending any 

 

 7 

 
such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this subsection 1.10(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), nor shall the Company be liable in any such case for any such loss, claim, damage, liability or
action to the extent that it arises out of or is based solely upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by any such Holder, underwriter
or controlling person. 
 (b) To the extent permitted by law, each selling Holder will indemnify and hold harmless the Company,
its counsel, each of its directors, each of its officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Act, any underwriter, any other Holder selling securities in such
registration statement and any controlling person of any such underwriter or other Holder, against any losses, claims, damages, or liabilities (joint or several) to which any of the foregoing persons may become subject, under the Act or the 1934 Act
insofar as such losses, claims, damages, or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity
with written information furnished by such Holder expressly for use in connection with such registration; and each such Holder will pay any legal or other expenses reasonably incurred by any person intended to be indemnified pursuant to this
subsection 1.10(b), in connection with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity agreement contained in this subsection 1.10(b) 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 Holder, which consent shall not be unreasonably withheld; provided, that, in no event shall any indemnity under this subsection 1.10(b)
exceed the net proceeds from the offering received by such Holder. 
 (c) Promptly after receipt by an indemnified party under
this Section 1.10 of notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 1.10, deliver to
the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed,
to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties which may be represented without conflict by one counsel) shall have the right
to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential
differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action,
shall not relieve such indemnifying party of any liability to the indemnified party under this Section 1.10 to the extent such failure is not prejudicial to its ability to defend such action, and the omission so to deliver written notice to the
indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 1.10. 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 which 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 with
respect to such claim or litigation. 
  

 8 

 (d) If the indemnification provided for in this Section 1.10 is held by a court of
competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage, or expense referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall
contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the
indemnified party on the other in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations; provided, that in no event shall any contribution
by a Holder under this Section 1.10(d) exceed the net proceeds from the offering received by such Holder. 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. 
 (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. 
 (f) The obligations of the Company and Holders under this Section 1.10 shall survive the
completion of any offering of Registrable Securities in a registration statement under this Section 1, and otherwise. 

1.11 Reports Under Securities Exchange Act of 1934. With a view to making available to the Holders the benefits of Rule 144
promulgated under the Act and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company agrees to:

 (a) make and keep public information available, as those terms are understood and defined in SEC Rule 144, at all times after
ninety (90) days after the effective date of the first registration statement filed by the Company for the offering of its securities to the general public; 

(b) take such action, including the voluntary registration of its Common Stock under Section 12 of the 1934 Act, as is necessary to
enable the Holders to utilize Form S-3 for the sale of their Registrable Securities, such action to be taken as soon as practicable after the end of the fiscal year in which the first registration statement filed by the Company for the offering of
its securities to the general public is declared effective; 
 (c) file with the SEC in a timely manner all reports and other
documents required of the Company under the Act and the 1934 Act; and 
  

 9 

 (d) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith
upon request (i) a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the effective date of the first registration statement filed by the
Company), the Act and the 1934 Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after it so qualifies), (ii) a
copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of
the SEC which permits the selling of any such securities without registration or pursuant to such form. 
 1.12 Form S-3
Registration. After its IPO, the Company shall use its best efforts to qualify for registration on Form S-3 or any successor form. Thereafter, in case the Company shall receive from any Holder or Holders of Registrable Securities then
outstanding a written request or requests that the Company effect a registration on Form S-3 and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company will:

 (a) promptly give written notice of the proposed registration, and any related qualification or compliance, to all other
Holders; and 
 (b) as soon as practicable, effect such registration and all such qualifications and compliances as may be so
requested and as would permit or facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable
Securities of any other Holder or Holders joining in such request as are specified in a written request given within fifteen (15) days after receipt of such written notice from the Company; provided, however, that the Company shall not be
obligated to effect any such registration, qualification or compliance, pursuant to this section 1.12: (1) if Form S-3 is not available for such offering by the Holders; (2) 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) at an aggregate price to the public of less than $1,000,000; (3) if the Company shall furnish to the 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 seriously detrimental to the Company and its stockholders for such Form S-3 Registration to be effected
at such time, in which event the Company shall have the right to defer the filing of the Form S-3 registration statement for a period of not more than 60 days after receipt of the request of the Holder or Holders under this Section 1.12;
provided, however, that the Company shall not utilize this right more than once in any twelve month period; (4) if the Company has, within the six (6) month period preceding the date of such request, already effected on registration on
Form S-3 for the Holders pursuant to this Section 1.12; or (5) in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such
registration, qualification or compliance. 
 (c) Subject to the foregoing, the Company shall file a registration statement
covering the Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the request or requests of the Holders. Registrations effected pursuant to this Section 1.12 shall not be counted as
demands for registration or registrations effected pursuant to Sections 1.2 or 1.3, respectively. 
  

 10 

 1.13 Assignment of Registration Rights. The rights to cause the Company to register
Registrable Securities pursuant to this Section 1 may be assigned (but only with all related obligations) by a Holder to a transferee or assignee of such securities who, after such assignment or transfer, holds at least one hundred thousand
(100,000) shares of the Registrable Securities (as adjusted for stock splits, stock dividends, recapitalizations and the like) held by the transferor or assignor of such securities immediately prior to such transfer, provided: (a) the
Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned; (b) such
transferee or assignee agrees in writing to be bound by and subject to the terms and conditions of this Agreement, including without limitation the provisions of Section 1.15 below; (c) such assignment shall be effective only if
immediately following such transfer the further disposition of such securities by the transferee or assignee is restricted under the Act; and (d) such transfer or assignment shall not be effective if it is made to a competitor of the Company as
determined by the Company in its sole discretion. Notwithstanding the foregoing, (i) transfers to transferees and assignees of a partnership or limited liability company who are partners or members or retired partners or members of such
partnership or limited liability company (including spouses and ancestors, lineal descendants and siblings of such partners or members who acquire Registrable Securities by gift, will or intestate succession), (ii) transfers to an affiliated
fund, partnership, entity or shareholder of any Investor shall not be subject to the minimum shareholding requirement set forth above, provided that all such assignees and transferees shall have a single attorney-in-fact for the purpose of
exercising any rights, receiving notices or taking any action under this Section 1. 
 1.14 Limitations on Subsequent
Registration Rights. From and after the date of this Agreement, the Company shall not, without the prior written consent of the Holders of not less than sixty percent (60%) of the outstanding Registrable Securities, enter into any agreement
with any holder or prospective holder of any securities of the Company which would allow such holder or prospective holder (a) to include such securities in any registration filed under Section 1.2 hereof, unless under the terms of such
agreement, such holder or prospective holder may include such securities in any such registration only to the extent that the inclusion of his securities will not reduce the amount of the Registrable Securities of the Holders which is included or
(b) to make a demand registration which could result in such registration statement being declared effective prior to the earlier of either of the dates set forth in subsection 1.2(a) or within one hundred twenty (120) days of the
effective date of any registration effected pursuant to Section 1.2. 
 1.15 Market Stand-Off Agreement. 

(a) Each Investor and each Founder hereby agrees that, during the period of duration specified by the underwriter of Common Stock or other
securities of the Company, following the effective date of a registration statement of the Company filed under the Act in connection with the Company’s IPO, it shall not, to the extent requested by the Company and such underwriter, directly or
indirectly sell, offer to sell, contract to sell (including, without limitation, any short sale), grant any option to purchase or otherwise transfer or dispose of (other than to donees who agree to be similarly bound) any securities of the Company
held by it at any time during such period except Common Stock included in such registration, provided, however, that such market stand-off period shall not exceed 198 days. 

 

 11 

 (b) In order to enforce the foregoing covenant, the Company may impose stop-transfer
instructions with respect to the Registrable Securities of each Investor and each Founder (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 

(c) The obligations described in Section 1.15(a) shall apply to the Investors only if all officers and directors of the Company, all
one-percent (1%) securityholders, and all other persons with registration rights (whether or not pursuant to this Agreement) enter into similar agreements. If the Company or the underwriter of any public offering of the Company’s
securities waive or terminate any standoff or lockup restrictions imposed on any holder of securities of the Company, then such waiver or termination shall be granted to all Holders subject to standoff or lockup restrictions pro rata based on the
number of shares of Common Stock beneficially held by such holder and the Holders. From and after the date of this Agreement, the Company shall use its best efforts to ensure that all holders of capital stock of the Company agree to be bound by
terms substantially similar to those set forth in this Section 1.15. 
 1.16 Termination of Registration Rights. The
rights under this Section 1 shall terminate (i) as to each Holder who, immediately following the consummation of the IPO, holds, or is entitled to hold upon conversion, shares of Registrable Securities which may be immediately sold under
Rule 144 during any 90-day period and (ii) as to all Holders upon the five-year anniversary of the consummation of the Company’s IPO. 

2. Covenants of the Company. 

2.1 Delivery of Financial Statements. 

(a) So long as any Investor holds at least one hundred thousand (100,000) Registrable Securities (as adjusted for stock splits, stock
dividends, recapitalizations and the like), the Company shall deliver to each such Investor (a “Major Investor”): 

(i) as soon as practicable, but in any event within sixty (60) days after the end of each fiscal year of the Company, an income
statement for such fiscal year, a balance sheet of the Company and statement of stockholder’s equity as of the end of such year, and a statement of cash flows for such year, such year-end financial reports to be in reasonable detail, prepared
in accordance with generally accepted accounting principles, and audited and certified by independent public accountants of nationally recognized standing selected by the Company; 

(ii) as soon as practicable, but in any event within forty-five (45) days after the end of each of the first three
(3) quarters of each fiscal year of the Company, an unaudited profit or loss statement and a statement of cash flows for such fiscal quarter and an unaudited balance sheet as of the end of such fiscal quarter, in each case, certified by
Company’s Chief Financial Officer, with management’s analysis of results and a statement of an executive officer comparing monthly and year-to-date information to the Company’s budget for such fiscal quarter; 

(iii) within thirty (30) days of the end of each month, an unaudited income statement and a statement of cash flows for such month
and an unaudited balance sheet as of the end of such month, in reasonable detail; and 
  

 12 

 (iv) as soon as practicable, but in any event thirty (30) days prior to the end of
each fiscal year, an annual budget for the next fiscal year, prepared on a monthly basis. 
 2.2 Inspection Covenants.
The Company shall permit each Major Investor, at such Major Investor’s expense, to visit and inspect the Company’s properties, to examine its books of account and records and to discuss the Company’s affairs, finances and accounts
with its officers (including the use of an auditor in such inspection and discussion), all at such reasonable times as may be requested by such Major Investor; provided, however, that the Company shall not be obligated pursuant to this
Section 2.2 to provide access to any information which it reasonably considers, upon advice of legal counsel, to be trade secret or similar confidential information. 

2.3 Termination of Information and Inspection Covenants. The covenants set forth in Section 2.1 and 2.2 shall terminate and
be of no further force or effect when either (i) the Company consummates its IPO; (ii) when the Company first becomes subject to the periodic reporting requirements of Sections 12(g) or 15(d) of the 1934 Act; or (iii) the closing of
any transaction or series of related transactions by the Company (including, without limitation, any reorganization, merger or consolidation) which will result in the Company’s stockholders immediately prior to such transaction not holding (by
virtue of such shares or securities issued solely with respect thereto) at least 50% of the voting power of the surviving or continuing entity. 

2.4 Right of First Offer. Subject to the terms and conditions specified in this Section 2.4, for so long as any Major
Investor owns any shares of outstanding Preferred Stock, the Company hereby grants to such Major Investor a right of first offer with respect to future sales by the Company of its Shares (as hereinafter defined). A Major Investor shall be entitled
to apportion the right of first offer hereby granted it among itself and its partners, members, directors, entities under common control and affiliates in such proportions as it deems appropriate. 

Each time the Company proposes to offer any shares of, or securities convertible into or exercisable for any shares of, any class of its
capital stock (“Shares”), the Company shall first make an offering of such Shares to each Major Investor in accordance with the following provisions: 

(a) The Company shall deliver a notice by certified mail (“Notice”) to the Major Investors stating (i) its
bona fide intention to offer such Shares, (ii) the number of such Shares to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such Shares. 

(b) By written notification received by the Company, within twenty (20) calendar days after receipt of the Notice, the Major
Investor may elect to purchase or obtain, at the price and on the terms specified in the Notice, up to that portion of such Shares which equals the proportion that the number of shares of Common Stock issued and held, or issuable upon conversion of
the Preferred Stock then held, by such Major Investor bears to the total number of shares of Common Stock of the Company then outstanding (assuming full conversion and exercise of all outstanding options, warrants and other convertible or
exercisable securities). The 
  

 13 

 
Company shall promptly, in writing, inform each Investor which purchases all the shares available to it (“Fully-Exercising Investor”) of any other Major Investor’s
failure to do likewise. During the ten (10) calendar day period commencing after receipt of such information, each Fully-Exercising Investor shall be entitled to obtain that portion of the Shares for which Major Investors were entitled to
subscribe but which were not subscribed for by the Investors which is equal to the proportion that the number of shares of Common Stock issued and held, or issuable upon conversion of the Preferred Stock then held, by such Fully-Exercising Investor
bears to the total number of shares of common stock issued and held, or issuable upon conversion of the Preferred Stock then held, by all Fully-Exercising Investors who wish to purchase some of the unsubscribed shares. 

(c) If all Shares referred to in the Notice which Major Investors are entitled to obtain pursuant to subsection 2.4(b) are not elected to
be obtained as provided in subsection 2.4(b) hereof, the Company may, during the sixty (60) day period following the expiration of the period provided in subsection 2.4(b) hereof, offer the remaining unsubscribed portion of such Shares to any
person or persons at a price not less than, and upon terms no more favorable to the offeree than those specified in the Notice. If the Company does not enter into an agreement for the sale of the Shares within such period, or if such agreement is
not consummated within 60 days of the execution thereof, the right provided hereunder shall be deemed to be revived and such Shares shall not be offered unless first reoffered to the Major Investors in accordance herewith. 

(d) The right of first offer in this Section 2.4 shall not be applicable: 

(i) to the issuance or sale of shares of Common Stock or other securities, or rights convertible into, or entitling the holder thereof
to receive directly or indirectly, additional shares of Common Stock (hereinafter referred to as “Common Stock Equivalents”), to employees, consultants or directors of the Company or persons having a professional relationship
with or providing services to the Company, directly or pursuant to a stock option plan or agreement or other stock option arrangements so long as such plan, agreements or arrangements have been approved by the Board of Directors of the Company
(including a majority of the directors designated by the holders of the Preferred Stock); 
 (ii) to the issuance or sale of
Common Stock or Common Stock Equivalents in connection with a bona fide acquisition of technology by the Company or a bona fide business acquisition of or by the Company, whether by merger, consolidation, sale of assets, sale or exchange of stock or
otherwise, approved by the Board of Directors of the Company (including a majority of the directors designated by the holders of the Preferred Stock); 

(iii) to the issuance or sale of Common Stock or Common Stock Equivalents, warrants or other securities or rights in connection with a
bona fide loan transaction or bank financing or otherwise in connection with commercial credit and equipment financing arrangements or to a strategic partner of the Company, in each case as approved by the Board of Directors of the Company
(including a majority of the directors designated by the holders of the Preferred Stock); 
  

 14 

 (iv) to or after consummation of a bona fide, firmly underwritten public offering of shares
of Common Stock, registered under the Act pursuant to a registration statement on Form S-1; 
 (v) to the issuance of Common
Stock or Common Stock Equivalents issued or issuable pursuant to a resolution unanimously approved by approved by the Board of Directors of the Company (including a majority of the directors designated by the holders of the Preferred Stock);

 (vi) to the issuance of securities pursuant to the conversion or exercise of convertible or exercisable securities that are,
or have been, approved for issuance by a majority of the Company’s Board of Directors (including a majority of the directors designated by the holders of the Preferred Stock); 

(vii) to the issuance of securities in connection with a split or subdivision of the outstanding shares of Common Stock or a dividend or
other distribution payable in additional shares of Common Stock or Common Stock Equivalents without payment of any consideration by such holder for the additional shares of Common Stock or the Common Stock Equivalents (including the additional
shares of Common Stock issuable upon conversion or exercise thereof); or 
 (viii) to the issuance of any shares of Series E
Preferred Stock pursuant to the Series E Agreement or any subsequent closing thereof or the issuance of the any shares of Common Stock upon conversion of shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series
D Preferred Stock or Series E Preferred Stock. 
 (e) The right of first offer set forth in this Section 2.4 may not be
assigned or transferred except to affiliates of a Major Investor. 
 2.5 Qualified Small Business. The Company shall not
take, or not fail to take, any action that would reasonably be expected to cause the Stock to fail to qualify as “qualified small business stock” within the meaning of Sections 1045 and 1202 of the Internal Revenue Code of 1986, as
amended, and Sections 18152.5 and 18038.5 of the California Revenue and Taxation Code; provided that, notwithstanding the foregoing, the Company shall not be obligated to take any action, or refrain from any action, which in its good faith business
judgment is not in the best interests of the Company or its stockholders. In the event that the Company is or becomes aware that the Stock will or may fail to qualify as a “qualified small business stock” within the meaning of Sections
1045 and 1202 of the Internal Revenue Code of 1986, as amended, and Sections 18152.5 and 18038.5 of the California Revenue and Taxation Code, the Company will promptly notify the holders of the Stock, and will consult in good faith with Investors
regarding a mutually agreeable and reasonable and alternative course of action that would preserve such status. Upon request by a holder of the Stock, the Company shall conduct a reasonable investigation to determine whether the Stock qualifies as
“qualified small business stock” meaning of Sections 1045 and 1202 of the Internal Revenue Code of 1986, as amended, and Sections 18152.5 and 18038.5 of the California Revenue and Taxation Code, and shall deliver to such holder a duly
executed Certificate of Representation in substantially the form attached hereto as Exhibit A (the “QSBS Certificate”) as expeditiously as reasonably possible, 

 

 15 

 
but in no event later than 30 days following the Company’s receipt of such request. If the Company is unable to deliver an executed QSBS Certificate because representation statement 2 in the
QSBS Certificate is inaccurate, the Company covenants and agrees to deliver a statement explaining the reasons for such inaccuracy. The Company’s obligation to furnish a written statement pursuant to this Section 2.5 shall continue
notwithstanding the fact that a class of the Company’s stock may be traded on an established securities market. 
 2.6
Employee and Other Stock Arrangements. The Company has issued or reserved for issuance an aggregate of 15,500,411 shares of Common Stock (or Common Stock Equivalents) for issuance to employees, consultants and directors of the Company and
persons having a professional relationship with or providing services to the Company, pursuant to the Company’s 2000 Stock Option/Stock Issuance Plan (the “Option Plan”). The Company shall not increase the number of
shares of Common Stock reserved under the Option Plan without the approval of a majority of the members of its Board of Directors. Unless otherwise approved by a majority of the members of its Board of Directors, all shares of Common Stock or Common
Stock Equivalents issued under the Option Plan shall initially be unvested and shall vest twenty-five percent (25%) at the end of the first year of service, with the remaining seventy-five percent (75%) vesting in 36 equal monthly
installments thereafter, subject to continued service to the Company. The Company shall have a right to repurchase any unvested shares issued to any person pursuant to the Option Plan upon the termination, with or without cause, of such
person’s employment and shall also have a right of first refusal with respect to any shares of vested stock proposed to be transferred by an employee (subject to the standard exceptions set forth in the Company’s form documents under the
Option Plan). 
 2.7 Proprietary Information Agreements. The Company will cause each person now or hereafter employed by
it or any subsidiary to execute the Company’s standard agreement regarding confidentiality, proprietary information and inventions. 

2.8 Assignment of Right of First Refusal. The Company hereby covenants and agrees to assign to each Major Investor, on a pro-rata
basis as set forth below, to the extent permitted under the Option Plan, the First Refusal Right granted to the Company under each Stock Purchase Agreement (a “Stock Purchase Agreement”) and Stock Issuance Agreement (a
“Stock Issuance Agreement”) entered into with each person to whom an option is granted or shares are issued under the Option Plan in the event the Company does not exercise such First Refusal Right, such that the Major
Investors shall have identical rights and obligations (except as herein provided) to those of the Company with respect to the exercise of a First Refusal Right for such shares; provided, however, that each Major Investor may elect to purchase or
obtain, at the price and on the terms specified in the Disposition Notice (as such term is defined in each Stock Purchase Agreement or Stock Issuance Agreement, as the case may be) that number of shares equal to the proportion that the number of
shares of Registrable Securities then held by such stockholder bears to the total number of shares of Registrable Securities of the Company then held by all other Major Investors. The Company covenants agrees to take all such further actions as may
be necessary in order to enforce the foregoing First Refusal Right, including the imposition of stop-transfer instructions with respect to such shares. The Company further covenants and agrees that all issuances of Common Stock (or Common Stock
Equivalents) to its employees, consultants and directors shall be made either under the Option Plan or pursuant to an agreement containing provisions substantially similar to those set forth Articles E and G(1) of the form of Stock Purchase
Agreement concerning rights of first refusal. 
  

 16 

 3. Miscellaneous. 

3.1 Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the
benefit of and be binding upon the respective successors and assigns of the parties (including transferees of any shares of Registrable Securities). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the
parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

3.2 Governing Law. This Agreement shall be governed by and construed under the laws of the State of California as applied to
agreements among California residents entered into and to be performed entirely within California. 
 3.3 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. 

3.4 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. 
 3.5 Notices. Unless otherwise provided, any notice required
or permitted under this Agreement shall be given in writing and shall be deemed effectively given upon personal delivery to the party to be notified or five (5) days after deposit with the United States Post Office, by registered or certified
mail, postage prepaid and addressed to the party to be notified at the address indicated for such party on the signature page hereof, or at such other address as such party may designate by ten (10) days’ advance written notice to the
other parties. 
 3.6 Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this
Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 

3.7 Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be
waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the holders of a majority of the Registrable Securities then outstanding; provided, however, no such
waiver or amendment shall be effective as to a Holder if it adversely impacts such Holder in a manner different than the other Holders. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each Holder of any
Registrable Securities then outstanding, each future Holder of all such Registrable Securities, and the Company. Each undersigned Major Investor having rights of first offer under Section 2.4 of the Prior Agreement, hereby waives any rights to
purchase additional shares of Series E Preferred Stock in excess of those shares of Series E Preferred Stock purchased by such Major Investor under the Series E Agreement. 
  

 17 

 3.8 Severability. If one or more provisions of this Agreement are held to be
unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms. 

3.9 Aggregation of Stock. All shares of Registrable Securities held or acquired by affiliated entities or persons (including
former and current partners, former and current members and former and current stockholders, the estates and family members of any such partners, members, retired partners or retired members and any trusts for the benefit of any of the foregoing
persons) shall be aggregated together for the purpose of determining the availability of any rights under this Agreement. 

3.10 Entire Agreement. This Agreement (including the Exhibits hereto, if any) constitutes the full and entire understanding and
agreement between the parties with regard to the subjects hereof and thereof and supersedes all prior written agreements and negotiations and oral understandings with respect thereto, including but not limited to the Prior Agreement and any similar
provisions set forth in the Warrants. 
 3.11 Recapitalizations, Etc. Subject to Section 2.2 hereof, the provisions
of this Agreement (including any calculation of share ownership) shall apply, to the full extent set forth herein with respect to the Registrable Securities and to the Common Stock, to any and all shares of capital stock of the Company or any
capital stock, partnership or member units or any other security evidencing ownership interests in any successor or assign of the Company (whether by merger, consolidation, sale of assets or otherwise) that may be issued in respect of, in exchange
for, or in substitution of the Common Stock by reason of any stock dividend, split, combination, recapitalization, liquidation, reclassification, merger, consolidation or otherwise. 

3.12 Additional Parties. In the event the Company issues additional shares of its Series E Preferred Stock pursuant to the Series
E Agreement, any purchaser of such additional shares shall become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement and such purchaser shall be deemed to be an
“Investor” hereunder. Schedule A hereto may be updated from time to time after the date hereof to reflect any subsequent purchasers, successors and permitted assigns. 

[Remainder of this page intentionally left blank] 
  

 18 

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

			
	COMPANY:
	
	INPHI CORPORATION
		
	By:	 	 /s/ Young Sohn

	Name:	 	Young Sohn
	Title:	 	 Chief Executive Officer

 

			
	Address:	 	2393 Townsgate Rd, Ste. 101
		 	Westlake Village, CA 91361

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

	
	 INVESTORS:

	
	  

	Print Name of Investor
	
	  

	Signature of Investor
	
	  

	Print Title of Signatory (if applicable)
	
	Address, Phone Number, Fax Number and e-mail
	  

	  

	  

	  

	  

 

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	INVESTORS:
	
	SAMSUNG ELECTRONICS CO., LTD.
		
	By:	 	  

	Name:	 	

			
		
	Address:	 	

			
	
	SVIC NO. 4 NEW TECHNOLOGY BUSINESS INVESTMENT, L.L.P.
		
	By:	 	 /s/ Sang-Ki Kim

	Name:	 	Sang-Ki Kim

			
		
	Address:	 	16th Fl., KIPS Center
		 	647-9, Yeosam1-Dong, Kangnam-Gu
		 	Seoul, Korea 135-980

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	PACVEN WALDEN VENTURES V, L.P.
		
	By:	 	Pacven Walden Management V, Co., Ltd.
		 	As General Partner of
		 	Pacven Walden Ventures V, L.P.
		
	By:	 	 /s/ Lip-Bu Tan

	Name:	 	Lip-Bu Tan
	Its:	 	Director

			
		
	Address:	 	One California Street, Suite 2800
		 	San Francisco, CA 94111

			
	
	PACVEN WALDEN VENTURES PARALLEL V-A C.V.
		
	By:	 	Pacven Walden Management V, Co., Ltd.
		 	As General Partner of
		 	Pacven Walden Ventures Parallel V-A C.V.
		
	By:	 	 /s/ Lip-Bu Tan

	Name:	 	Lip-Bu Tan
	Its:	 	Director

			
		
	Address:	 	One California Street, Suite 2800
		 	San Francisco, CA 94111

			
	
	PACVEN WALDEN VENTURES PARALLEL V-B C.V.
		
	By:	 	Pacven Walden Management V, Co., Ltd.
		 	As General Partner of
		 	Pacven Walden Ventures Parallel V-B C.V.
		
	By:	 	 /s/ Lip-Bu Tan

	Name:	 	Lip-Bu Tan
	Its:	 	Director

			
		
	Address:	 	One California Street, Suite 2800
		 	San Francisco, CA 94111

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	PACVEN WALDEN VENTURES V ASSOCIATES FUND, L.P.
		
	By:	 	Pacven Walden Management V, Co., Ltd.
		 	As General Partner of Pacven Walden
		 	Ventures V Associates Fund, L.P.
		
	By:	 	 /s/ Lip-Bu Tan

	Name:	 	Lip-Bu Tan
	Its:	 	Director

			
		
	Address:	 	One California Street, Suite 2800
		 	San Francisco, CA 94111

			
	
	PACVEN WALDEN VENTURES V-QP ASSOCIATES FUND, L.P.
		
	By:	 	Pacven Walden Management V, Co., Ltd.
		 	As General Partner of Pacven Walden
		 	Ventures V-QP Associates Fund, L.P.
		
	By:	 	 /s/ Lip-Bu Tan

	Name:	 	Lip-Bu Tan
	Its:	 	Director

			
		
	Address:	 	One California Street, Suite 2800
		 	San Francisco, CA 94111

			
	
	ASIAN VENTURE CAPITAL INVESTMENT CORPORATION
		
	By:	 	 /s/ Lip-Bu Tan

	Name:	 	Lip-Bu Tan
	Title:	 	President

			
		
	Address:	 	One California Street, Suite 2800
		 	San Francisco, CA 94111

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	INTERNATIONAL VENTURE CAPITAL INVESTMENT CORPORATION
		
	By:	 	 /s/ Lip-Bu Tan

	Name:	 	Lip-Bu Tan
	Title:	 	President

			
		
	Address:	 	One California Street, Suite 2800
		 	San Francisco, CA 94111

			
	
	INTERNATIONAL VENTURE CAPITAL INVESTMENT III CORP.
		
	By:	 	 /s/ Lip-Bu Tan

	Name:	 	Lip-Bu Tan
	Title:	 	President

			
		
	Address:	 	One California Street, Suite 2800
		 	San Francisco, CA 94111

			
	
	BI WALDEN VENTURES KETIGA SDN. BHD.
		
	By:	 	 /s/ Lip-Bu Tan

	Name:	 	Lip-Bu Tan
	Title:	 	President

			
		
	Address:	 	One California Street, Suite 2800
		 	San Francisco, CA 94111

			
	
	SEED VENTURES III PTE LTD.
		
	By:	 	 /s/ Lip-Bu Tan

	Name:	 	Lip-Bu Tan
	Title:	 	President

			
		
	Address:	 	One California Street, Suite 2800
		 	San Francisco, CA 94111

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	MAYFIELD XI,
	a Delaware Limited Partnership
		
	By:	 	Mayfield XI Management, L.L.C.
	Its:	 	General Partner
		
	By:	 	 /s/ David Ladd

	Its:	 	Managing Director

			
		
	Address:	 	2800 Sand Hill Road
		 	Menlo Park, CA 94025

			
	
	 MAYFIELD XI QUALIFIED,

a Delaware Limited Partnership

		
	By:	 	Mayfield XI Management, L.L.C.
	Its:	 	General Partner
		
	By:	 	 /s/ David Ladd

	Its:	 	Managing Director

			
		
	Address:	 	2800 Sand Hill Road
		 	Menlo Park, CA 94025

			
	
	MAYFIELD ASSOCIATES FUND VI,
	a Delaware Limited Partnership
		
	By:	 	Mayfield XI Management, L.L.C.
	Its:	 	General Partner
		
	By:	 	 /s/ David Ladd

	Its:	 	Managing Director

			
		
	Address:	 	2800 Sand Hill Road
		 	Menlo Park, CA 94025

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	MAYFIELD PRINCIPALS FUND II,
	a Delaware Limited Liability Company
		
	By:	 	Mayfield XI Management, L.L.C.
	Its:	 	Managing Director
		
	By:	 	 /s/ David Ladd

	Its:	 	Managing Director

			
		
	Address:	 	2800 Sand Hill Road
		 	Menlo Park, CA 94025

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	TALLWOOD I, L.P.
		
	By:	 	TALLWOOD MANAGEMENT CO. LLC,
		 	General Partner
		
	By:	 	 /s/ [Illegible]

	Name:	 	

			
		
	Address:	 	400 Hamilton Avenue
		 	Suite 230
		 	Palo Alto, CA 94301

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	DALI, HOOK PARTNERS, L.P.
		
	By:	 	 /s/ Paul Dail

	Name:	 	Paul Dali
	Title:	 	General Partner

			
		
	Address:	 	3000 Sand Hill Road, Building One
		 	Suite 185
		 	Menlo Park, CA 94025

			
	
	DALI, HOOK ENTREPRENEURS FUND, L.P.
		
	By:	 	 /s/ Paul Dail

	Name:	 	Paul Dali
	Title:	 	General Partner

			
		
	Address:	 	3000 Sand Hill Road, Building One
		 	Suite 185
		 	Menlo Park, CA 94025

			
	
	DALI, HOOK ANNEX FUND, L.P.
		
	By:	 	 /s/ Haru Kato

	Name:	 	Haru Kato
	Title:	 	General Partner

			
		
	Address:	 	3000 Sand Hill Road, Building One
		 	Suite 185
		 	Menlo Park, CA 94025

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	HOOK PARTNERS V, L.P.
		
	By:	 	 /s/ David Hook

	Name:	 	David Hook
	Title:	 	General Partner

			
		
	Address:	 	Two Galleria Tower, Suite 1670
		 	13455 Noel Road
		 	Dallas, TX 75240

			
	
	DHP B FUND, L.P.
		
	By:	 	 /s/ David Hook

	Name:	 	David Hook
	Title:	 	General Partner

			
		
	Address:	 	Two Galleria Tower, Suite 1670
		 	13455 Noel Road
		 	Dallas, TX 75240

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	KTBNETWORK CO., LTD.
		
	By:	 	 /s/ Bum-Soo Kim

	Name:	 	Bum-Soo Kim
	Title:	 	

			
		
	Address:	 	720 University Ave, Suite 100
		 	Palo Alto, CA 94301

			
	
	TECH VENTURES II, L.P.
		
	By:	 	 /s/ William M. Valtos, Jr.

	Name:	 	William M. Valtos, Jr.
	Title:	 	Senior Managing Director

			
		
	Address:	 	c/o 15/F PSBank Centre
		 	777 Paseo de Roxas Ave.
		 	Makati City, Metro Manila 1226
		 	Philippines

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	FLEXTRONICS INTERNATIONAL, LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	

			
		
	Address:	 	  

		 	  

 

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	TVP II LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

			
		
	Address:	 	  

		 	  

		 	  

			
	
	SAM SRINIVASAN
		
	By:	 	 /s/ Sam Srinivasan

			
		
	Address:	 	  

		 	  

		 	  

 

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	NARRA VENTURE CAPITAL, L.P.
		
	By:	 	 /s/ Francisco S.A. Sandejas

	Name:	 	Francisco S.A. Sandejas
	Title:	 	Authorized Signatory

			
		
	Address:	 	Unit 105, Plaza B
		 	Northgate Cyberzone
		 	Muntinlupa City, 1781
		 	Philippines

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	OPTIGRAB II LLC
		
	By:	 	 /s/ Mark R. Gordon

	Name:	 	Mark R. Gordon
	Title:	 	

			
		
	Address:	 	565 Barbara Way
		 	Hillsborough, CA 94010

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

			
	FOUNDERS:
	
	LOI NGUYEN
	
	 /s/ Loi Nguyen

	Name:	 	Loi Nguyen

			
	
	GOPAL RAGHAVAN
	
	 /s/ Gopal Raghavan

	Name:	 	Gopal Raghavan

			
	
	TIMOTHY SEMONES
	
	 /s/ Timothy Semones

	Name:	 	Timothy Semones

			
	
	ASHOK DHAWAN
	
	 /s/ Ashok Dhawan

	Name:	 	Ashok Dhawan

  

 [Signature Page to Amended and Restated Investors’ Rights Agreement] 

 SCHEDULE A 

SCHEDULE OF STOCKHOLDERS 

Andrew A. Bogan 
 Asian Venture Capital
Investment Corporation 
 Authosis Capital Inc. 

BI Walden Ventures Ketiga Sdn. Bhd. 
 Brobeck,
Phleger & Harrison LLP 
 Bruce R. Hallett 

BullsEye Ventures, LLC 
 Dali, Hook Annex Fund,
L.P. 
 Dali, Hook Entrepreneur Fund, L.P. 

Dali, Hook Partners, L.P. 
 David Hayes

 David Piehler 
 DHP B Fund, L.P.

 Elizabeth T. Hall 
 Ellen S.
Bancroft 
 Fallen Oak Partners, L.P. 

Flextronics International Ltd. 
 Gabrielle M.
Wirth 
 Hook Partners V, L.P. 

International Venture Capital Investment Corporation 

International Venture Capital Investment III Corp. 

John S. Baker 
 Joseph H. Chi 

Kathleen W. Lowe 
 KTBnetwork Co., Ltd.

 Laura Brower Hunter 
 Mayfield
Associates Fund V 
 Mayfield Associates Fund VI 

Mayfield Principals Fund II 

 Mayfield XI 

Mayfield XI Qualified 
 Narra Venture Capital,
L.P. 
 Optigrab II LLC 
 Pacven
Walden Ventures Parallel V-A C.V. 
 Pacven Walden Ventures Parallel V-B. C.V. 

Pacven Walden Ventures V Associates Fund, L.P. 

Pacven Walden Ventures V, L.P. 
 Pacven Walden
Ventures V-QP Associates Fund, L.P. 
 Patrick Arrington 

Richard A. Fink 
 Sam Srinivasan 

Samsung Electronics Co., Ltd. 
 Seed Ventures
III Ptd Ltd. 
 Stephen R. Finn 
 SVIC
No. 4 New Technology Business Investment L.L.P. 
 SVIC No. 6 New Technology 

Tallwood I, L.P 
 Tech Ventures II L.P.

 The Young Trust Dated July 27, 1993 

Thomas R. Bogan 
 TVP II LLC 

Venture Lending & Leasing III, LLC 

William D. Unger/Teresa R. Luchsinger Family Trust DTD 12/19/90 

 SCHEDULE B 

FOUNDERS 
  

			
	 Name of Founder
	  	No. of Shares of
Common 
Stock Held
	 Loi Nguyen
	  	177,777
	 Gopal Raghavan
	  	177,777
	 Timothy Semones
	  	177,777

 SCHEDULE 1.1(h) 

Warrants Issued 
  

					
	 Warrant Holder
	  	Number of Shares	  	Type of Shares
	 Venture Lending & Leasing III, LLC
	  	19,504	  	Series B
	 Venture Lending & Leasing III, LLC
	  	15,603	  	Series B
	 SVB Financial Group
	  	5,000	  	Series D
	 Comerica Bank
	  	30,000	  	Common
	 Marilee Brooks
	  	60,000	  	Common

 EXHIBIT A 

INPHI Corporation, 

a Delaware corporation 

CERTIFICATE OF REPRESENTATIONS 

REGARDING QUALIFIED SMALL BUSINESS STOCK 

THIS CERTIFICATE OF REPRESENTATIONS REGARDING QUALIFIED SMALL BUSINESS STOCK (the “Certificate”) is executed as
of                     ,              by INPHI Corporation, a Delaware
corporation (the “Company”), for the benefit of                             
(the “Purchaser”). As used herein, the term “Stock” means those shares of Company stock issued by the Company to Purchaser and described more fully on Schedule A hereto. 

Representations 
 Subject to the
limitations and qualifications set forth below, the Company hereby represents as follows: 
 1. The Company has conducted a reasonable
investigation into the question of whether the Stock is “qualified small business stock” (“QSBS”) within the meaning of Section 1202(c) of the Internal Revenue Code of 1986, as amended (the
“Code”); 
 1. The Company has conducted a reasonable investigation into the question of whether the
Stock is “qualified small business stock” (“QSBS”) within the meaning of Section 1202(c) of the Internal Revenue Code of 1986, as amended (the “Code”); and 

2. To the best of the Company’s knowledge after reasonably diligent inquiry: (i) at all times prior to and immediately
following the date hereof, the Company, together with any subsidiaries required to be aggregated with the Company (the “Controlled Group”) pursuant to section 1202(d)(3) of the Code, has been and will be a United States
domestic C corporation with aggregate gross assets of less than $50,000,000; (ii) the Stock will be originally issued to the Investor on the date hereof in exchange for money within the meaning of Code section 1202(c)(1); (iii) the Company
is an “eligible corporation” within the meaning of Code section 1202(e)(4); (iv) at least 80 percent (by value) of the Company’s assets are used in the active conduct of one or more qualified trades or businesses within the state
of California within the meaning of Code section 1202(e) and California Revenue and Taxation Code section 18152.5; (v) as described in Code section 1202(c)(3), (a) during the one year period preceding the date hereof, the Company has not
made one or more purchases of its stock with an aggregate value (as of the time of the respective purchases) exceeding five percent of the aggregate value of all of the Company’s stock as of the beginning of such period, and (b) during the
two year period preceding the date hereof, the Company has not directly or indirectly purchased any of its stock from the Investor; (vi) as of and immediately following the date hereof, at least 80 percent of the Controlled Group’s payroll
will be attributable to employment located within the state of 

 
California within the meaning of California Revenue and Taxation Code section 18152.5; and (vii) the Company agrees to submit to the Internal Revenue Service, the California Franchise Tax
Board, and the Investors such reports or other materials as such agencies may require; 
 3. The Company agrees use its
reasonable business efforts to not take, or fail to take, any action which would cause the Stock to fail to qualify as “qualified small business stock” within the meaning of Sections 1045 and 1202 of the Code and Sections 18152.5 and
18038.5 of the California Revenue and Taxation Code. In the event that the Company is or becomes aware that the Stock will or may fail to qualify as “qualified small business stock” within the meaning of Sections 1045 and 1202 of the Code
or Sections 18152.5 and 18038.5 of the California Revenue and Taxation Code, the Company will promptly notify Purchaser; 
 4.
Upon request by Purchaser, the Company shall conduct a reasonable investigation to determine whether the Stock qualify as “qualified small business stock” within the meaning of Code Sections 1045 and 1202 and Sections 18152.5 and 18038.5
of the California Revenue and Taxation Code, and shall transmit, in writing, the results of such investigation to Purchaser as expeditiously as reasonably possible, but in no event later than 30 days following the Company’s receipt of such
request; and 
 5. As of the date first above written, and assuming that Purchaser has not sold the Stock, all of the Stock is
QSBS. 
 Qualifications and Limitations 

1. Qualification of the Stock as QSBS is based, in part, on the value of Company stock or other assets at certain relevant times. For
purposes of the representations made in this Certificate, the Company has made a good faith determination of such values, taking into account all material facts and circumstances, but cannot guarantee that the Internal Revenue Service or California
tax authorities will not successfully assert that such determination is incorrect. 
 2. Qualification of the Stock as QSBS is
based, in part, on whether the Company has been engaged in the active conduct of one or more qualified trades or businesses. The term “qualified trade or business” set forth in Section 1202(e)(3) of the Code is not clearly defined in
all respects. For purposes of the representations made in this Certificate, the Company has made a good faith effort to apply the definition of qualified trade or business set forth in Section 1202(e)(3) of the Code, but cannot guarantee that
the Internal Revenue Service or California tax authorities will not successfully assert a contrary definition. 
 3.
Qualification of the Stock as QSBS is based, in part, on whether at least eighty percent (by value) of the Company’s assets have been used in the active conduct of one or more qualified trades or businesses. For this purpose, assets held as
“working capital” of a qualified trade or business within the meaning of Section 1202(e)(6) of the Code are treated as used in the active conduct of such trade or business. The term “working capital” set forth in
Section 1202(e)(6) of the Code is not clearly defined in all respects. For purposes of the representations made in this Certificate, the Company has made a good faith effort to apply the definition of working capital set forth in
Section 1202(e)(6) of the Code, but cannot guarantee that the Internal Revenue Service or California tax authorities will not successfully assert a contrary definition. 

 4. Qualification of the Stock as QSBS is based, in part, on whether the Company purchased
any of its stock from a person related to Purchaser during a relevant testing period. For purposes of the representations made in this Certificate, the Company has made a good faith determination that such purchases did not occur, but cannot
guarantee that the Internal Revenue Service or California tax authorities will not successfully assert that such determination is incorrect. 

5. While the representations contained herein are made in good faith, the Company assumes no liability for the failure of the Stock to
qualify as QSBS 
 IN WITNESS WHEREOF, the Company has executed this Certificate as of the date first above written. 

 

			
	INPHI CORPORATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 SCHEDULE A 

 

							
	 Class/Type of Stock
	 	 Certificate Number
	 	 Number of Shares
	 	 Issue Date

	 Series      Preferred
	 		 		 	            , 200  
	 Series      Preferred
	 		 		 	            , 200  
	 Series      Preferred
	 		 		 	            , 200  
	 Series      Preferred
	 		 		 	            , 200

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