Document:

EX-4.8

 Exhibit 4.8 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH
APPLICABLE LAWS. 
 AMENDED AND RESTATED WARRANT TO PURCHASE STOCK 

 

			
	Company:	  	LDR HOLDING CORPORATION, a Delaware corporation
	Number of Shares:	  	3,891,177 (as may be adjusted pursuant to Article 2 and Article 3 of this Warrant)
	Class of Stock:	  	Common
	Initial Exercise Price:	  	$0.001 per share
	Issue Date:	  	February 11, 2011
	Expiration Date:	  	February 11, 2018 (Subject to Section 4.2)

 WHEREAS, the Company previously issued (a) a Second Amended and Restated Warrant to Purchase Stock
exercisable for Common Stock of the Company to ESCALATE CAPITAL I, L.P. (together with its assignees, “Holder”) on January 31, 2007, (b) a Warrant to Purchase Stock exercisable for Common Stock of the Company to Holder on
October 13, 2008, and (c) a Warrant to Purchase Stock exercisable for Common Stock of the Company to Holder on November 23, 2009 (the foregoing, collectively, the “Original Warrants”); and 

WHEREAS, the Company and Holder have agreed to execute this replacement warrant (the “Warrant”) to replace the Original
Warrants and such Original Warrants shall be deemed automatically cancelled and terminated upon the issuance of this Warrant. 

THIS WARRANT CERTIFIES THAT, in consideration of the payment of $1.00 and for other good and valuable consideration, Holder is entitled
to purchase the number of fully paid and nonassessable shares of the class of securities (the “Shares”) of the Company at the initial exercise price per Share (the “Warrant Price”) all as set forth above and as may
be adjusted pursuant to
 Article 2 and Article 3 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. 
 ARTICLE 1. EXERCISE. 
 1.1 Exercise of Warrant. The purchase rights
represented by this Warrant are exercisable by Holder in whole or in part, at any time, or from time to time, on or before the Expiration Date set forth above, in the manner set forth in Section 1.2 below. 

1.2 Method of Exercise. Holder may exercise this Warrant by delivering this Warrant and a duly executed Notice of Exercise or
Exchange in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the exchange right set forth in Section 1.3, Holder shall also deliver to the Company a bank or
certified check made payable to the order of the Company for the aggregate Warrant Price for the Shares being purchased. 
 1.3
Exchange Right. In lieu of exercising this Warrant as specified in Section 1.1, Holder may from time to time exchange this Warrant, in whole or in part, for a number of Shares determined by dividing (a) the aggregate fair
market value of the Shares or other securities otherwise issuable upon exercise of this Warrant minus the aggregate Warrant Price of such Shares by (b) the fair market value of one Share. The fair market value of the Shares shall be determined
pursuant to Section 1.4. 

  
 1 

 1.4 Fair Market Value. For purposes of Section 1.3, fair market value
shall be determined at the time of such exchange as follows: 
 (a) If Holder elects to exchange this Warrant in connection with
the Company’s initial public offering and if the Company’s registration statement relating to such offering has been declared effective by the Securities and Exchange Commission (the “SEC”), the fair market value of the
Shares shall be the initial price to the public of the Shares (or the Company’s stock into which the Shares are convertible multiplied by the number of shares of the Company stock into which a Share is convertible) specified in the final
prospectus with respect to such offering. 
 (b) If the Shares are traded regularly in a public market, the fair market value of
the Shares shall be the closing price of the Shares (or the closing price of the Company’s stock into which the Shares are convertible multiplied by the number of shares of the Company stock into which a Share is convertible) reported for the
business day immediately prior to the date Holder delivers its Notice of Exercise or Exchange to the Company. 
 (c) In all other
cases, the Board of Directors of the Company in its reasonable good faith judgment shall determine the fair market value of the Shares (or the Company’s stock into which the Shares are convertible multiplied by the number of shares of the
Company stock into which a Share is convertible) at the close of business on the business day immediately prior to the date Holder delivers its Notice of Exercise or Exchange to the Company. If Holder advises the Board of Directors in writing that
Holder disagrees with such determination, then Holder shall promptly select three independent, nationally recognized investment banking firms and the Company shall select one such firm to determine fair market value. If the fair market value as
determined by such investment banking firm is greater than that determined by the Board of Directors, then all fees and expenses of such investment banking firm shall be paid by the Company. In all other circumstances, such fees and expenses shall
be paid by Holder. 
 1.5 Delivery of Certificate and New Warrant. Promptly after Holder exercises or exchanges this
Warrant, the Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has not been fully exercised or exchanged and has not expired, a new Warrant substantially in the form of, and on the same terms as, this Warrant,
representing the Shares not so acquired. 
 1.6 Replacement of Warrants. On receipt of evidence reasonably satisfactory to
the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an affidavit of loss and indemnity agreement reasonably satisfactory in form and substance to the Company or, in
the case of mutilation, on surrender and cancellation of this Warrant, the Company at its expense shall execute and deliver, in lieu of this Warrant, a new Warrant of like tenor. 

1.7 Repurchase on Sale, Merger, or Consolidation of the Company. 

1.7.1 “Acquisition.” For the purpose of this warrant, “Acquisition” means any sale, license, or other
disposition of all or substantially all of the equity, securities or assets (including intellectual property) of the Company, or any reorganization, consolidation, or merger of the Company where the holders of the Company’s outstanding voting
securities immediately prior to the transaction beneficially own less than 50% of the outstanding voting securities of the Company or the successor or surviving entity, as applicable, immediately after the transaction; provided, that none of the
following shall be considered an Acquisition: (A) a merger affected exclusively for the purpose of changing the domicile of the Company or (B) any transaction or series of transactions principally for bona fide equity financing purposes in
which cash is received by the Company or any successor or indebtedness of the Company is canceled or converted or a combination thereof. 

  
 2 

 1.7.2 Assumption of Warrant. If upon the closing of any Acquisition the successor or
surviving entity expressly assumes the obligations of the Company pursuant to this Warrant, then from and after the closing this Warrant shall be exercisable for the same securities, cash and property as would be payable for the Shares issuable upon
exercise or exchange of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for or the closing of the Acquisition. The Warrant Price shall be adjusted accordingly. The Company shall use reasonable efforts to
cause the successor or surviving entity to assume the obligations of the Company pursuant to this Warrant. 
 1.7.3 Exercise
or Exchange of Warrant. If upon the closing of any Acquisition (other than an Acquisition in which the consideration is solely stock (such, a “Stock-for-Stock Acquisition”)) Holder has not otherwise exercised or exchanged this
Warrant in full, then Holder, by written notice to the Company, may elect to (a) deem this Warrant to have been automatically exchanged for Shares pursuant to Section 1.3 and thereafter Holder shall participate in the Acquisition as
a holder of Shares (or the Company stock into which the Shares are convertible multiplied by the number of shares of the Company stock into which a share is convertible) on the same terms as other holders of the same class of securities of the
Company or (b) require the successor or surviving entity or the Company, if the successor or surviving entity does not assume the obligations of this Warrant pursuant to Section 1.7.2, to purchase this Warrant for cash upon the
closing of the Acquisition for an amount equal to the aggregate fair market value of the Shares or other securities otherwise issuable upon exercise of this Warrant minus the aggregate Warrant Price for such Shares. For purposes of this
Section 1.7.3, the fair market value of the Shares shall be the value assigned to the Shares (or the Company stock into which the Shares are convertible multiplied by the number of shares of the Company stock into which a share is
convertible) in the Acquisition. In the event of a Stock-for-Stock Acquisition, any previously unexercised portion of this warrant shall be deemed to have been automatically exchanged for Shares pursuant to Section 1.2 and thereafter
Holder shall participate in the Stock-for-Stock Acquisition as a holder of Shares (or the Company stock into which the Shares are convertible multiplied by the number of shares of the Company stock into which a share is convertible) on the same
terms as other holders of the same class of securities of the Company. Notwithstanding the foregoing, in the event of an Acquisition in which the consideration includes cash and stock, Holder shall participate in the Acquisition (1) with
respect to the cash portion of the consideration, as described in the first sentence above; and (2) with respect to the stock portion of the consideration, as if the same were a “Stock-for-Stock Acquisition.” 

ARTICLE 2. ADJUSTMENTS TO THE SHARES. 
 2.1 Stock Dividends, Etc. If the Company declares or pays a dividend on its common stock payable in common stock or other securities, or subdivides the outstanding common stock into a greater
amount of common stock, then upon exercise or exchange of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the
Shares of record as of the date the dividend or subdivision occurred. 
 2.2 Reclassification, Exchange or Substitution.
Upon any reclassification, exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon exercise or
exchange of this Warrant, the number and kind of securities and property that Holder would have received for the Shares if this Warrant had been exercised or exchanged immediately before such reclassification, exchange, substitution, or other event.
Such an event shall include any automatic conversion of the outstanding or issuable securities of the Company of the same class or series as the Shares to common stock pursuant to the terms of the Company’s Certificate or Articles of
Incorporation upon the closing of a registered public offering of the Company’s common stock. The Company or its successor shall promptly issue to Holder a new Warrant for such new securities or other property. The 

  
 3 

 
new Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation,
adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions,
or other events. 
 2.3 Adjustments for Combinations, Splits, Etc. If the outstanding Shares are combined or consolidated,
by reclassification, reverse split or otherwise, into a lesser number of Shares, the Warrant Price shall be proportionately increased and the number of Shares issuable under this Warrant shall be proportionately decreased. If the outstanding Shares
are split or multiplied, by reclassification or otherwise, into a greater number of Shares, the Warrant Price shall be proportionately decreased and the number of Shares issuable under this Warrant shall be proportionately increased; provided,
however that the Warrant Price shall never be decreased below the par value of the Shares. 
 2.4 No Impairment. The
Company shall not, by amendment of its Certificate or Articles of Incorporation or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid
the observance or performance of any of the terms to be observed or performed under this warrant by the Company, but shall at all times in good faith assist in carrying out all the provisions of this Article 2 and in taking all such action as
may be necessary or appropriate to protect Holder’s rights under this Article against impairment. 
 Notwithstanding the foregoing,
the Company shall not be deemed to have impaired Holder’s rights if it amends its Certificate of Incorporation or stockholders agreements or the holders of the Company’s common stock waive any of their rights thereunder, in a manner that
does not affect Holder in a manner materially different from the effect that such amendments or waivers have generally on the rights of the holders of the Company’s common stock. If the Company takes any action affecting the Shares or its
common stock other than as described above that adversely affects Holder’s rights under this Warrant, the Warrant Price shall be adjusted downward and the number of Shares issuable upon exercise of this Warrant shall be adjusted upward in such
a manner that the aggregate Warrant Price of this Warrant is unchanged; provided, however, that the Warrant Price shall never be decreased below the par value of the shares. 
 2.5 Certificate as to Adjustments. Upon each adjustment of the Warrant Price, the Company at its expense shall promptly compute such adjustment, and furnish Holder with a certificate of its Chief
Financial Officer setting forth such adjustment and the facts upon which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series
of adjustments leading to such Warrant Price. 
 ARTICLE 3. ADJUSTMENT OF SHARE NUMBER UPON ISSUANCE OF EQUITY SECURITIES. 

3.1 Except as provided in Section 3.2, throughout the term of this Warrant, if the Company shall issue or sell, or is deemed
to have issued or sold any shares of its equity securities (or securities convertible into equity securities) in connection with an Equity Financing, then, forthwith upon such issue or sale, the number of Shares issuable upon exercise of this
Warrant shall be increased by a number of Shares equal to 3.36% of the equity securities issued or issuable upon conversion of the securities issued in connection with the Equity Financing. 

3.2 Applicability of Section 3.1. Notwithstanding anything herein to the contrary, the provisions of Section 3.1 shall
only apply when the Company has consummated an Equity Financing. For purposes of this Warrant, an “Equity Financing” shall mean: one or more transactions of the Company involving the issuance or sale of equity securities of the
Company (or securities convertible into 

  
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equity securities) principally for bona fide equity financing purposes occurring from the Issue Date until the date upon which the Company has raised $10,000,000 (the
“Threshold”) in gross proceeds pursuant to such transactions; provided, however, that an Equity Financing shall not include any equity securities issued or sold in connection with an Acquisition or an initial public offering of the
Company pursuant to a registration statement declared effective by the SEC. In no event shall an increase in the number of shares to the Company’s stock option plan be deemed to constitute an “Equity Financing”. For the avoidance of
doubt, this Article III shall no longer apply, and no adjustment shall be made to the number of Shares issuable upon exercise of this Warrant, (i) once the Threshold has been met, (ii) for any securities issued in excess of the
Threshold, and (iii) upon the initial public offering of the Company pursuant to a registration statement declared effective by the SEC. 

ARTICLE 4. REPRESENTATIONS AND COVENANTS. 
 4.1 Representations and Warranties of the Company. The Company hereby represents and warrants to Holder as follows: 
 (a) The authorized and outstanding equity securities of the Company as of the Issue Date is as set forth on Schedule A. All issued and outstanding equity securities of the Company are duly
authorized and validly issued, fully paid and nonassessable, and such equity securities were issued in material compliance with all applicable state, federal and foreign laws concerning the issuance of securities. The identity of the holders of the
equity securities of the Company and the percentage of such holders’ fully diluted ownership of the equity securities of the Company, in each case of the Issue Date, is set forth on Schedule A. No shares of the capital stock or other
equity securities of the Company, other than those described above, are issued and outstanding. Except as set forth on Schedule A, as of the Issue Date, there are no preemptive or other outstanding rights, options, warrants, conversion rights
or similar agreements or understandings for the purchase or acquisition from the Company of any equity securities of any such entity. 
 (b) The initial Warrant Price referenced on the first page of this Warrant is not greater than the fair market value of the Shares as of the date of this Warrant. 

(c) All Shares which may be issued upon the exercise or exchange of this Warrant, and all securities, if any, issuable upon conversion of
the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws.

 (d) The Company’s capitalization table attached to this Warrant as Schedule A is true and complete as of the Issue Date.

 4.2 Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon
its common stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for subscription pro rata to the holders of any class or series of its stock any additional shares of stock of any
class or series or other rights; (c) to effect any reclassification or recapitalization of common stock; or (d) to merge or consolidate with or into any other corporation, or sell, lease, license, or convey all or substantially all of its
assets, or to liquidate, dissolve or wind up, then, in connection with each such event, the Company shall give Holder (1) at least 20 days prior written notice of the date on which a record will be taken for such dividend, distribution, or
subscription rights (and specifying the date on which the holders of common stock will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) and (b) above; and
(2) in the case of the matters referred to in (c) and (d) above at least 20 days prior written notice of the date when the same will take place (and specifying the date on which the holders of common stock will be
entitled to exchange their common stock for securities or other property deliverable upon the occurrence of such event). 

  
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 4.3 Information Rights. So long as Holder holds this Warrant and/or any of the
Shares, the Company shall deliver to Holder (a) promptly after mailing, copies of all written communications to the shareholders (as a group) of the Company, (b) within 120 days after the end of each fiscal year of the Company, the annual
audited financial statements of the Company certified by independent public accountants of recognized standing and (c) within 45 days after the end of each of the first three quarters of each fiscal year, the Company’s quarterly,
unaudited financial statements. 
 4.4 Reservation of Shares. The Company shall at all times reserve and keep available
out of its authorized but unissued capital stock, solely for the purpose of issuance upon the exercise or exchange of this Warrant, the maximum number of Shares issuable upon exercise of this Warrant (and shares issuable, directly or indirectly,
upon conversion of the Shares, if any). 
 4.5 Compliance with Rule 144. At the written request of Holder, any time after
the Company is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, who proposes to sell Common Stock issuable upon the exercise of the Warrant in compliance with Rule 144 promulgated by the SEC, the Company
shall furnish to Holder, within thirty (30) days after receipt of such request, a written statement confirming the Company’s compliance with the filing requirements of the SEC as set forth in such Rule, as such Rule may be amended from
time to time. 
 4.6 Representations and Warranties of Holder. Holder hereby represents and warrants to the Company as
follows: 
 (a) Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by
Holder will be acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that Holder has not been formed for the
specific purpose of acquiring this Warrant or the Shares. 
 (b) Disclosure of Information. Holder has received or has had
full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions
and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to request additional information necessary to verify any information furnished to Holder or to which Holder
has access. 
 (c) Investment Experience. Holder understands that the purchase of this Warrant and its underlying
securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and its
underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal
or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons.

 (d) Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D
promulgated under the Act. 

  
 6 

 (e) The Act. Holder understands that this Warrant and the Shares issuable upon
exercise or conversion hereof have not been registered un the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Holder’s investment intent as expressed herein. Holder
understands that this Warrant and the Shares issued upon any exercise or conversion hereof must be held indefinitely unless subsequently registered under the 1933 Act and qualified under applicable state securities laws, or unless one or more
exemptions from such registration and qualification are otherwise available. 
 ARTICLE 5. MISCELLANEOUS. 

5.1 Registration Under Securities Act of 1933, as amended. Within five days of the date hereof, Holder shall execute and become a
party to that certain Amended and Restated Investors’ Rights Agreement, dated as of September 11, 2007 (as may be amended, restated, or otherwise modified from time to time, the “Rights Agreement”) between the Company and
its investor(s) in the form presented to Holder as of the Issue Date, and the Shares shall be deemed “Registrable Securities” thereunder. By acceptance of this Warrant, Holder shall be deemed to be a party to the Rights Agreement and shall
be bound by the indemnification, “market stand-off” lockup and similar provisions thereof. 
 5.2 Term: Notice of
Expiration. This Warrant is exercisable in whole or in part, at any time and from time to time on or before the earlier of the Expiration Date set forth above or the consummation of a Qualified Public Offering (as defined in the Company’s
Certificate of Incorporation, as amended). If this warrant has not been exercised prior to the earlier of the Expiration Date or a Qualified Public Offering, this warrant shall be deemed to have been automatically exchanged on the Expiration Date or
immediately prior to such Qualified Public Offering for Shares pursuant to Section 1.2. 
 5.3 Legends. This
Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form: 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH APPLICABLE LAWS. 

5.4 Compliance with Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise of this Warrant (and the
securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee
(including, without limitation, the delivery of investment representation letters and legal opinions reasonably acceptable to the Company, as reasonably requested by the Company). 

5.5 Transfer Procedure. Subject to the provisions of Section 5.3, Holder may transfer all or part of this Warrant or
the Shares issuable upon exercise of this Warrant (or the securities issuable, directly or indirectly, upon conversion of the Shares, if any) by giving the Company notice of the portion of the Warrant being transferred setting forth the name,
address and taxpayer identification number of the transferee and surrendering this Warrant to the Company for reissuance to the transferee(s) (and Holder, if applicable); provided, however, that Holder may transfer all or part of this
Warrant to its affiliates at any time without notice to the Company, and such affiliate shall then be entitled to all the rights of Holder under this Warrant and any related agreements, and the Company shall cooperate fully in ensuring that any
stock issued upon exercise of this Warrant is issued in the name of the affiliate that exercises the Warrant. The terms and conditions of this Warrant shall inure to the benefit of, and be binding upon, the Company and the holders hereof and their
respective permitted successors and assigns. 

  
 7 

 5.6 Notices. All notices and other communications from the Company to Holder, or vice
versa, shall be deemed delivered and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company or Holder, as the case may be, in writing by the
Company or such Holder from time to time. All notices to Holder shall be addressed as follows: 
  

			
	 If to Holder:
	  	 Escalate Capital I, L.P.
 300
West Sixth St., Suite 2250
 Austin, TX 78701
 Attention: Tony Schell
 Fax: (512) 651-2101
 Email: tony@escalatecapital.com

		
	 And to:
	  	 Escalate Capital I, L.P.
 150
Almaden Blvd., Suite 925
 San Jose, CA 95113
 Attention: Simon James
 Fax: (408) 200-0099
 Email: simon@escalatecapital.com

		
	 With a copy (which shall not constitute notice) to:
	  	 Patton Boggs LLP
 2000 McKinney
Ave., Ste. 1700
 Dallas, TX 75201

Attention: David McLean, Esq.
 Fax: (214)
758-1550
 Email: dmclean@pattonboggs.com

 5.7 Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated only
by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 
 5.8 Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from
the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 
 5.9 Governing Law. This
Warrant shall be governed by and construed in accordance with the laws of the State of California, without giving effect to its principles regarding conflicts of law. 
 [Signature page follows.] 

  
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 The Company has caused this Warrant to be duly executed and delivered as of the Issue Date
specified above. 
  

	
	 LDR HOLDING CORPORATION
  

By: /s/ Christophe Lavigne
  
 Name: Christophe Lavigne
  

Title: President and CEO
  
 By: /s/ Dennis Hynson
  
 Name:
Dennis Hynson
  
 Title: CFO/Secretary

 
 Authorized signatories under Corporate

Resolutions to Borrow or an authorized signer(s)

under a resolution covering Warrants must sign

the Warrant.

 [Signature Page to Warrant to Purchase Stock] 

 
					
	HOLDER:
	
	 ESCALATE CAPITAL I, L.P.,
 a Delaware limited partnership

		
	By:	 	Escalate Capital Management I,
its general partner
		
	By:	 	EC Management I, L.P.,
a general partner
		
	By:	 	Escalate Capital Management Co., LLC,
its general partner
			
		 	By:	 	 /s/ William A. Schell

		 	Name:	 	William A. Schell
		 	Title:	 	Member

 [Signature Page to Warrant to Purchase Stock] 

 APPENDIX 1 
 NOTICE OF EXERCISE 
 1. The undersigned hereby elects to (check applicable
blank below): 
  

	
	                   purchase
                     Shares of the
                     stock of LDR HOLDING CORPORATION pursuant to the terms of the attached warrant, and tenders herewith payment of the
Warrant Price of such Shares in full; or

	
	                  exchange the
attached warrant for Shares in the manner specified in the warrant. This exchange is exercised with respect to                      of the Shares
covered by the warrant.

 2. Please issue a certificate or certificates representing said shares in the name of the undersigned or
in such other name as is specified below: 
  

					
		 	  

			
		 	Attn:	 	 
		
		 	  

 Or Registered Assignee 
 3. The undersigned represents it is acquiring the Shares solely for its own account and not as a nominee for any other party and not with a view toward the resale or distribution thereof except in
compliance with applicable securities laws. 
  

	
	                     or Registered Assignee
	
	  

	(Signature)
	
	  

	(Date)

 Schedule A  
 CapitalizationEX-4.9

 Exhibit 4.9 
 THIS NOTE AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE. THEY MAY NOT BE SOLD, OFFERED FOR
SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT AND/OR APPLICABLE STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS
NOT REQUIRED OR UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT. 
 THIS NOTE IS SUBJECT TO SUBORDINATION AGREEMENTS AMONG THE COMPANY, THE
COLLATERAL AGENT, THE HOLDERS OF THE NOTES AND CERTAIN LENDERS, AS MORE PARTICULARLY DESCRIBED IN SECTION 4 BELOW. 
 LDR
HOLDING CORPORATION 
 [FORM OF] SUBORDINATED SECURED CONVERTIBLE PROMISSORY NOTE 

 

			
		  	Austin, Texas
	$XXXXX	  	XXXXX, 2012

 FOR VALUE RECEIVED, LDR Holding Corporation, a Delaware corporation (the
“Company”), promises to pay to [SAMPLE] (the “Holder”), or its registered assigns, the principal amount of
[                                        ] and
[        ]/100ths dollars ($[                    ]), or such lesser amount as shall equal the outstanding
principal amount hereof, together with simple interest from the date of this Secured Convertible Promissory Note (this “Note”) on the unpaid principal balance at a rate equal to six percent (6.0%) per annum, computed on
the basis of the actual number of days elapsed and a year of 360 days; provided that all past due principal and accrued interest on this Note shall bear interest from Maturity (as defined below) (whether at scheduled Maturity or upon acceleration of
Maturity following an Event of Default (as defined below)) until paid at the lesser of (i) the rate of eleven percent (11%) per annum or (ii) the highest rate for which Company may legally contract under applicable law. An amount
equal to one and one-half times (1.5) all unpaid principal and accrued but unpaid interest, and any other amounts payable hereunder, shall be due and payable on the earliest to occur of
(i) [                    ], 2016, (ii) the occurrence of an Event of Default (as defined below), (iii) a Change of Control (as defined
below) or (iv) a Public Offering (as defined below) (such earliest date is hereinafter referred to as “Maturity”). Holder acknowledges that this Note is one of the Secured Convertible Promissory Notes of like tenor (collectively, the
“Notes”) being issued by the Company and/or LDR Médical SAS (“Médical” and together with the Company, the “Borrowers”) to raise interim financing of up to $15,000,000.

 The following is a statement of the rights of the Holder of this Note and the conditions to which this Note is subject, to
which the Holder, by the acceptance of this Note, agrees: 

 Section 1. Certain Definitions. As used in this Note, the following capitalized terms have the
following meanings: 
 1.1 “Change of Control” means any Liquidation Event, as such term is defined in
the Company’s Third Amended and Restated Certificate of Incorporation, as the same may be amended from time to time. 
 1.2
“Collateral Agent” shall have meaning set forth in the Security Agreement. 
 1.3 “Common
Stock” means shares of the Company’s Common Stock, par value $0.001 per share. 
 1.4
“Company” shall have the meaning set forth on the cover page hereof. 
 1.5 The “Conversion
Factor” shall be .50 (i.e. a 50% discount). 
 1.6 “Event of Default” shall have the meaning
set forth in Section 6 hereof. 
 1.7 “Holder” shall have the meaning set forth on the cover
page hereof. 
 1.8 “Intellectual Property Security Agreement” means that certain Intellectual Property
Security Agreement for Patents, Trademarks and Copyrights by and among the Company, LDR Spine and the other parties thereto. 

1.9 “LDR Spine” means LDR Spine USA, Inc., a Delaware corporation. 

1.10 “Majority Investors” means persons holding a majority of the then outstanding aggregate principal amount of
the Notes issued pursuant to the Purchase Agreement. 
 1.11 “Maturity” shall have the meaning set forth
on the cover page hereof. 
 1.12 “Médical” shall have the meaning set forth on the cover page
hereof. 
 1.13 “Note Conversion Price” means, with respect to a voluntary conversion upon the
consummation of a Public Offering or Change of Control, the product of (a) the price per share of Common Stock sold in a Public Offering or received in the Change of Control times (b) the Conversion Factor. 

1.14 “Notes” shall have the meaning set forth on the cover page hereof. 

1.15 “Permitted Financing” shall have the meaning set forth in Section 4 hereof. 

1.16 Preferred Stock” means shares of the Company’s Series A-1 Convertible Preferred Stock, par value $0.001,
Series A-2 Convertible Preferred Stock, par value $0.001, Series B Convertible Preferred Stock, par value $0.001, and Series C Convertible Preferred Stock, par value $0.001. 
 1.17 “Public Offering” means any firm commitment underwritten public offering by the Company of shares of Common Stock pursuant to an effective registration statement under the
Securities Act of 1933, as then in effect, or any comparable statement under any similar federal statute then in force, or a similar public offering under the laws of a foreign jurisdiction, with aggregate gross proceeds to the Company of at least
$50,000,000. 

  
 -2-

 1.18 “Purchase Agreement” means that certain Note Purchase Agreement
by and among the Borrowers and the other parties thereto. 
 1.19 “Security Agreement” means that certain
Security Agreement by and among the Company, LDR Spine, Austin Ventures VIII, L.P., as Collateral Agent, and the other parties thereto. 
 1.20 “Senior Lender” shall have the meaning set forth in Section 4 hereof. 
 1.21 “Subordination Agreements” means (a) that certain Subordination Agreement by and among Austin Ventures VIII, L.P., as Collateral Agent, the holders of the Notes and
Comerica Bank, and (b) that certain Subordination Agreement by and among Austin Ventures VIII, L.P., as Collateral Agent, the holders of the Notes, Escalate Capital I, L.P. and Escalate Capital Partners SBIC I, L.P. 

1.22 “Transaction Documents” means this Note, each of the other Notes issued under the Purchase Agreement, the
Purchase Agreement, the Security Agreement, the Intellectual Property Security Agreement and the Subordination Agreements. 
 Section 2.
Interest. Accrued interest on this Note shall be payable upon Maturity of this Note. 
 Section 3. Prepayment. The
Note, any accrued but unpaid interest and any other amounts payable under this Note may be prepaid only with the written consent of the Majority Investors. 
 Section 4. Subordination. The indebtedness evidenced by this Note is hereby expressly subordinated in right of payment to the prior payment in full of all of the Company’s Senior
Debt as defined under and in accordance with the terms of the Subordination Agreements. In addition, the indebtedness evidenced by this Note is hereby expressly subordinated in right of payment to the prior payment in full of (i) (c) in an
aggregate principal amount not exceeding Seven Million Five Hundred Thousand Euros (€7,500,000) incurred by Médical and (ii) equipment financing not exceeding Two Million Dollars ($2,000,000) in the aggregate at any given time
(together, “Permitted Financing”), including, without limitation, all interest accruing after the commencement by or against the Borrowers of any bankruptcy, reorganization or similar proceeding for so long as
the Borrowers owes any amounts with respect thereto in accordance with the following terms. Any security interest or lien that Holder may now have or in the future obtain in any property of the Borrowers to secure this Note also is hereby expressly
subordinated to the security interest granted by the Borrowers to a lender of any Permitted Financing (a “Senior Lender”) in connection with any Permitted Financing. Notwithstanding the respective dates of
attachment or perfection of the security interest of Holder and the security interest of Senior Lender, the security interest of Senior Lender in the property of the Borrowers shall at all times be prior to the security interest of Holder. Nothing
in this Section 4 shall be construed as Senior Lender’s consent for Holder to take a security interest or lien in any property of the Borrowers. Upon request (which request shall not be made no more than twice in any 12 month
period) by any Senior Lender, the Borrowers and the Holder shall execute and deliver a subordination agreement, the terms of which shall be reasonably satisfactory to the Senior Lender, confirming the subordination of the indebtedness evidenced by
all the Notes to such 

  
 -3-

 Permitted Financing. Holder will not demand or receive from the Company (and the Company will not pay to
Holder) all or any part of the indebtedness evidenced by the Note, by way of payment, prepayment, setoff, lawsuit or otherwise (other than reorganization subordinated securities in connection with any bankruptcy, reorganization, receivership or
similar proceeding), nor will Holder accelerate the indebtedness evidenced by the Note, exercise any remedy with respect to any of Senior Lenders’ collateral, nor will Holder commence, or cause to commence, prosecute or participate in any
administrative, legal or equitable action against the Company, for so long as any portion of the Permitted Financing remains outstanding. Holder shall promptly deliver to each Senior Lender in the form received (except for endorsement or assignment
by Holder where required by Senior Lender) for application to the Permitted Financing any payment, distribution, security or proceeds received by Holder with respect to the indebtedness evidenced by this Note other than in accordance with this
Section 4. Nothing in this Section 4 shall prohibit Holder from converting all or any part of the outstanding principal amount of this Note, any accrued but unpaid interest and any other amounts payable under this Note, into
equity securities of the Company. In the event of the Company’s insolvency, reorganization or any case or proceeding under any bankruptcy or insolvency law or laws relating to the relief of debtors, the provisions of this Section 4
shall remain in full force and effect, and Senior Lenders’ claims against the Borrowers and the estate of the Borrowers shall be paid in full before any payment is made to Holder other than in accordance with this Section 4. In any
bankruptcy, insolvency or similar proceeding involving the Borrowers, Holder will not take any actions adverse to Senior Lenders’ position. If, at any time after payment in full of the Permitted Financing, any payments of the Permitted
Financing must be disgorged by a Senior Lender for any reason (including, without limitation, the bankruptcy of the Borrowers), this Section 4 and the relative rights and priorities set forth herein shall be reinstated as to all such
disgorged payments as though such payments had not been made and Holder shall immediately pay over to Senior Lenders all payments received with respect to the indebtedness evidenced by this Note to the extent that such payments would have been
prohibited hereunder. At any time and from time to time, without notice to Holder, Senior Lenders may take such actions with respect to the Permitted Financing as Senior Lender, in its sole discretion, may deem appropriate. No such action or
inaction shall impair or otherwise affect Senior Lenders’ rights hereunder. Holder waives the benefits, if any, of statutory or common law suretyship defenses. The provisions of this Section 4 may not be amended to adversely affect
the rights of a Senior Lender without the prior written consent of such Senior Lender. The provisions of this Section 4 are solely for the benefit of Holder and Senior Lender and not for the benefit of the Borrowers or any other party.
In the event of any legal action to enforce the rights of Holder or a Senior Lender under this Section 4, the party prevailing in such action shall be entitled to its reasonable attorneys’ fees and costs of collection. 

Section 5. Conversion. 
 5.1 Voluntary Conversion. Immediately prior to, but in any event conditioned upon the consummation of a Public Offering or Change of Control, all or part of the outstanding principal amounts
payable under this Note, any accrued but unpaid interest and any other amounts payable under this Note may be converted into shares of Common Stock. In the event of such conversion, this Note shall be converted into that number of shares of Common
Stock determined by dividing (x) the amount of this Note to be converted by (y) the Note Conversion Price. The Company shall give the Holder at least ten (10) days’ advance written notice of a Public Offering or Change of
Control. 

  
 -4-

 5.2 Conversion Procedure. 

(a) Voluntary Conversion. If this Note is voluntarily converted, the Holder shall give written notice to the Company notifying the
Company of its election to convert all or a portion of this Note and specifying the amount of the unpaid principal amount of this Note, any accrued but unpaid interest and any other amounts payable under this Note to be converted. Before the Holder
shall be entitled to voluntarily convert this Note, the Holder shall surrender this Note at the Company’s principal executive office, or, if this Note has been lost, stolen, destroyed or mutilated, then, in the case of loss, theft or
destruction, the Holder shall deliver an indemnity agreement reasonably satisfactory in form and substance to the Company (without the requirement of a bond) or, in the case of mutilation, the Holder shall surrender and cancel this Note. The Company
shall, as soon as practicable thereafter issue and deliver to such Holder at such principal executive office a certificate or certificates for the number of shares to which the Holder shall be entitled upon such conversion (bearing such legends as
are required by applicable state and federal securities laws in the opinion of counsel to the Company), together with a replacement Note (if any principal amount or interest is not converted). Such conversion shall be deemed to have been made
immediately prior to the close of business on the date of the surrender of this Note or the delivery of an indemnification agreement (or such later date requested by the Holder or such earlier date agreed to by the Company and the Holder). The
person or persons entitled to receive securities issuable upon such conversion shall be treated for all purposes as the record holder or holders of such securities on such date. 

(b) Fractional Shares; Interest; Nonassessable; Effect of Conversion. Any fractional shares issuable upon conversion of this Note
shall be rounded down to the nearest whole share, and the Company shall pay to the Holder the amount of such fractional share multiplied by the Note Conversion Price. Upon conversion of this Note in full and the payment of the amounts specified in
this Section 5.2(b), the Company shall be forever released from all its obligations and liabilities under this Note. 

(c) Further Assurances. In connection with the conversion of this Note upon a Public Offering or Change of Control, by acceptance
of this Note, the Holder shall be entitled (and/or required, as the case may be) to execute all agreements (including any market stand-off agreements, if applicable) and other documents executed by the similarly situated investors in connection with
the Public Offering or the Change of Control transaction in which this Note is converted. 
 Section 6. Default; Remedies.

 6.1 Default. The Company shall be in default under this Note upon the occurrence of any condition or event set
forth below (each, an “Event of Default”): 

  
 -5-

 (a) the Company’s failure to pay (i) when due any principal or interest payment on
the due date hereunder or (ii) any other payment required under the terms of this Note on the date due, and such default shall continue unremedied for a period of 5 days following receipt of written notice signed by a representative designated
by the Majority Investors of such failure to pay; 
 (b) the Company shall (i) apply for or consent to the appointment of a
receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, (ii) be unable, or admit in writing its inability, to pay its debts as they mature, (iii) make a general assignment for the benefit of
its or any of its creditors, (iv) be dissolved or liquidated, (v) become insolvent (as such term may be defined or interpreted under any applicable statute), (vi) commence a voluntary case or other proceeding seeking liquidation,
reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any
official in an involuntary case or other proceeding commenced against it, or (vii) take any action for the purpose of effecting any of the foregoing; 
 (c) proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Company or of all or a substantial part of the property thereof, or an involuntary case or other proceedings
seeking liquidation, reorganization or other relief with respect to the Company or the debts thereof under any bankruptcy, insolvency or other similar law now or hereafter in effect shall be commenced and an order for relief entered or such
proceeding shall not be dismissed or discharged within 90 days of commencement; 
 (d) the Notes or any other Transaction
Document shall cease to be, or be asserted by the Company not to be, a legal, valid and binding obligation of the Borrowers enforceable in accordance with their terms or shall cease to give the Investors the rights, powers and privileges purported
to be created and granted thereby; or 
 (e) if declared by the Majority Investors following the occurrence of any of the
following: (i) any representation or warranty made or deemed made in any Transaction Document shall prove to have been incorrect, false or misleading in any material respect on or as of the date made or deemed made or (ii) the Company, LDR
Spine or Médical shall fail to perform, comply with or observe any term, covenant or agreement applicable to it contained in any Transaction Document and the continuance thereof beyond any applicable cure periods provided for therein, unless
the Company or such other party shall promptly commence and diligently pursue action to (a) cause such representation or warranty to become true in all material respects and/or (b) remedy any failure to perform, comply, or observe such
term, covenant or agreement and does so within thirty (30) days after notice thereof has been given to the Company by the Majority Investors (unless such cure is not capable of being effected within such thirty (30) day period in which
case the Company shall have an additional thirty (30) day period in which to perform such cure) and such cure removes any material adverse effect on the Majority Investors of such representation or warranty having been incorrect or of such
failure to perform, comply with or observe such term covenant or agreement. 
 6.2 Remedies. Upon the occurrence or
existence of any Event of Default (other than an Event of Default described in Section 6.1(b) and 6.1(c)) and at any time thereafter during the continuance of such Event of Default, the Majority Investors, acting through, but
subject to the discretion of, the Collateral Agent, may, by written notice to the Company, declare the entire 

  
 -6-

 
outstanding principal amount of the Notes, any accrued but unpaid interest and any other amounts payable under the Notes to be immediately due and payable without presentment, demand, protest or
any other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the other Transaction Documents to the contrary notwithstanding. Upon the occurrence or existence of any Event of Default described in
Section 6.1(b) or 6.1(c)), immediately and without notice, all outstanding obligations payable by the Company hereunder shall automatically become immediately due and payable, without presentment, demand, protest or any other
notice of any kind, all of which are hereby expressly waived, anything contained herein or in the other Transaction Documents to the contrary notwithstanding. In addition to the foregoing remedies, upon the occurrence or existence of any Event of
Default, a representative of the Majority Investors may exercise any other right power or remedy granted to it by the Transaction Documents or otherwise permitted to it by law, either by suit in equity or by action at law, or both. 

Section 7. Security Interest. The obligations of the Company under the Notes and the Purchase Agreement are secured by the Collateral
(as defined in the Security Agreement and the Intellectual Property Security Agreement). 
 Section 8. Charges, Taxes and
Expenses. Issuance of certificates for equity securities issued upon the conversion of this Note shall be made without charge to the Holder hereof for any issue or transfer tax or other incidental expense in respect of the issuance of such
certificate, all of which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the name of the Holder. 

Section 9. Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right
required or granted herein shall be a Saturday, a Sunday or a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day that is not a Saturday, Sunday or legal holiday. 

Section 10. Miscellaneous. 
 10.1 Loss, Theft, Destruction or Mutilation of Note. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Note and, in the case of
loss, theft or destruction, and delivery of an agreement satisfactory to the Company to indemnify the Company from any loss incurred by it connection with the Note (without the requirement of a bond) or, in the case of mutilation, on surrender and
cancellation of this Note, the Company shall execute and deliver, in lieu of this Note, a new Note executed in the same manner as this Note, in the same principal amount as the unpaid principal amount of this Note and dated the date to which
interest shall have been paid on this Note or, if no interest shall have yet been so paid, dated the date of this Note. 
 10.2
Payment. All payments under this Note shall be made in lawful tender of the United States. 
 10.3 Waivers and
Amendments. This Note and the obligations of the Company and the rights of the Holder under this Note may be amended, waived, discharged or terminated (either generally or in a particular instance, either retroactively or prospectively and
either for a 

  
 -7-

 
specified period of time or indefinitely) with the written consent of the Company (which shall not be required in connection with a waiver of rights in favor of the Company) and the Majority
Investors (and, whenever applicable, the Collateral Agent on behalf of the Holder and the holders of the other Notes); provided, however, that no such amendment or waiver shall reduce the principal amount of this Note or alter any other economic
provisions of this Note in a manner adverse to the Holder or amend any of the provisions of this Note related to conversion of this Note in a manner adverse to the Holder without the written consent of the Holder. This Note may not be changed,
waived, discharged or terminated orally but only by a signed statement in writing. Any amendment, waiver, discharge or termination effected in accordance with this Section 10.3 shall be binding upon each Holder and the Company.

 10.4 Notices. Any notice, request or other communication required or permitted hereunder shall be given in accordance
with the Purchase Agreement. 
 10.5 Severability. If one or more provisions of this Note are held to be unenforceable
under applicable law, such provision(s) shall be excluded from this Note and the balance of this Note shall be interpreted as if such provision(s) were so excluded and shall be enforceable in accordance with its terms. 

10.6 Successors and Assigns. Subject to compliance with applicable federal and state securities laws, this Note and all rights
under this Note are transferable in whole or in part by the Holder to any person or entity upon written notice to the Company. This Note may be transferred only upon its surrender to the Borrower for registration of transfer, duly endorsed or
accompanied by a duly executed written instrument of transfer in form satisfactory to the Borrower. Thereupon, this Note shall be reissued to, and registered in the name of, the transferee, or a new note for like principal amount and interest shall
be issued to, and registered in the name of, the transferee. Interest and principal shall be paid solely to the registered holder of this Note. Such payment shall constitute full discharge of the Borrower’s obligation to pay such interest and
principal. The Company may not transfer this Note or any of its rights or obligations hereunder, without the prior written consent of the Majority Investors. Except as otherwise expressly provided in this Note or the Purchase Agreement, the
provisions of this Note and the Purchase Agreement shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the Company and the Holder. 

10.7 Usury. All agreements between the Company and the Holder, whether now existing or hereafter arising and whether written or
oral, are expressly limited so that in no contingency or event whatsoever, whether by acceleration of the maturity of this Note or otherwise, shall the amount paid, or agreed to be paid, to the Holder for the use, forbearance or detention of the
money to be loaned under this Note or otherwise, exceed the maximum amount permissible under applicable law. If from any circumstances whatsoever fulfillment of any provision of this Note or of any other document evidencing, securing or pertaining
to the indebtedness evidenced by this Note, at the time performance of such provision shall be due, shall involve transcending the limit of validity prescribed by applicable usury law, then ipso facto, the obligation to be fulfilled shall be reduced
to the limit of such validity, and if from any such circumstances the Holder shall ever receive anything of value as interest or deemed interest by applicable law under this Note or any other document evidencing, securing or pertaining to the
indebtedness evidenced by this Note or otherwise an amount that would exceed the highest 

  
 -8-

 
lawful rate, such amount that would be excessive interest shall be applied to the reduction of the principal amount owing under this Note or on account of any other indebtedness of the Company to
the Holder relating to this Note, and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal of this Note and such other indebtedness, such excess shall be refunded to the Company. In determining
whether or not the interest paid or payable with respect to any indebtedness of the Company to the Holder, under any specific contingency, exceeds the highest lawful rate, the Company and the Holder shall, to the maximum extent permitted by
applicable law, (i) characterize any nonprincipal payment as an expense, fee or premium rather than as interest, (ii) amortize, prorate, allocate and spread the total amount of interest throughout the full term of such indebtedness so that
the actual rate of interest on account of such indebtedness is uniform throughout the term of such indebtedness, and/or (iii) allocate interest between portions of such indebtedness, to the end that no such portion shall bear interest at a rate
greater than that permitted by law. The terms and provisions of this Section shall control and supersede every other conflicting provision of all agreements between the Company and the Holder. The Holder has been advised by the Company to seek the
advice of an attorney and an accountant in connection with the issuance of this Note. The Company has had the opportunity to seek the advice of any attorney and accountant of the Company’s choice in connection with issuance of this Note.

 10.8 Pari Passu Notes. The Holder acknowledges and agrees that the payment of all or any portion of the
outstanding principal amount of this Note and all interest hereon shall be pari passu in right of payment and in all other respects to the other Notes issued by the Company pursuant to the Purchase Agreement or pursuant to the terms of such Notes
issued by the Company. In the event the Holder receives payments of principal or interest in excess of its pro rata share of the Company’s payments of principal or interest to the Holders of all of the Notes issued by the Company, then the
Holder shall hold in trust all such excess payments for the benefit of the holders of the other Notes issued by the Company and shall pay such amounts held in trust to such other holders upon demand by such holders. 

10.9 Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to the Holder, upon any breach or
default of the Company under this Note shall impair any such right, power, or remedy of the Holder nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default
thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default therefore or thereafter occurring. Any waiver, permit, consent, or approval of any kind or character on the part of the
Majority Investors of any breach or default under this Note or any waiver on the part of the Majority Investors of any provisions or conditions of this Note must be made in writing and shall be effective only to the extent specifically set forth in
such writing. All remedies, either under this Note or by law or otherwise afforded to the Investors, shall be cumulative and not alternative. 
 10.10 Titles and Subtitles. The titles of the paragraphs and subparagraphs of this Note are for convenience of reference only and are not to be considered in construing this Note. 

10.11 Construction. The language used in this Note will be deemed to be the language chosen by the parties to express their mutual
intent and no rules of strict construction will be applied against any party. 

  
 -9-

 10.12 Governing Law. This Note shall be governed by and construed under the laws of
the State of New York, without regard to conflicts of law principles. 
 10.13 Attorneys’ Fees. In the event of any
dispute involving the terms hereof, the prevailing parties shall be entitled to collect legal fees and expenses from the other party to the dispute. 
 [Remainder of page intentionally left blank] 

  
 -10-

 IN WITNESS WHEREOF, the Company has caused this Subordinated Secured Convertible Promissory
Note to be executed by its duly authorized officer. 
  

			
	LDR HOLDING CORPORATION
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	ACCEPTED AND AGREED TO BY HOLDER:
	
	[INVESTOR]
		
	By:	 	 
	Name:	 	 
	Title:	 	 
		
	Dated:

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