Document:

Stock Purchase Agreement

 Exhibit 10.26 
 STOCK PURCHASE AGREEMENT 
 BY AND AMONG 

MARUBENI CORPORATION 
 AS SELLER 
 AND 

SYNNEX INVESTMENT HOLDINGS CORPORATION or its designee(s) 
 AND 
 SB PACIFIC CORPORATION LIMITED 

AS BUYERS 
 Dated
November 12, 2010 

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
		
	ARTICLE 1 SALE AND TRANSFER OF SHARES; CLOSING	  	 	1	  
	 1.1
	    	Sale of Shares	  	 	1	  
	 1.2
	    	Purchase Price and Payment	  	 	1	  
	 1.3
	    	Closing	  	 	2	  
	 1.4
	    	Purchase Price Adjustment	  	 	2	  
		
	ARTICLE 2 REPRESENTATIONS AND WARRANTIES OF SELLER	  	 	3	  
	 2.1
	    	Organization and Good Standing	  	 	3	  
	 2.2
	    	Authority; No Conflict	  	 	4	  
	 2.3
	    	Capitalization	  	 	5	  
	 2.4
	    	Financial Statements	  	 	5	  
	 2.5
	    	Books and Records	  	 	6	  
	 2.6
	    	Title to Properties; Encumbrances	  	 	6	  
	 2.7
	    	Condition and Sufficiency of Assets	  	 	7	  
	 2.8
	    	Accounts Receivable	  	 	7	  
	 2.9
	    	Inventory	  	 	8	  
	 2.10
	    	Liabilities	  	 	8	  
	 2.11
	    	Taxes	  	 	8	  
	 2.12
	    	No Material Adverse Change	  	 	9	  
	 2.13
	    	Employee Benefits	  	 	9	  
	 2.14
	    	Compliance With Legal Requirements; Governmental Authorizations	  	 	10	  
	 2.15
	    	Legal Proceedings; Orders	  	 	11	  
	 2.16
	    	Absence of Certain Changes and Events	  	 	12	  
	 2.17
	    	Contracts; No Defaults	  	 	13	  
	 2.18
	    	Insurance	  	 	14	  
	 2.19
	    	Environmental Matters	  	 	14	  
	 2.20
	    	Employees	  	 	15	  
	 2.21
	    	Labor Relations; Compliance	  	 	16	  
	 2.22
	    	Intellectual Property	  	 	16	  
	 2.23
	    	Officers and Directors	  	 	19	  
	 2.24
	    	Customers and Vendors	  	 	19	  
	 2.25
	    	Certain Payments	  	 	19	  
	 2.26
	    	Disclosure	  	 	20	  
	 2.27
	    	Relationships With Related Persons	  	 	20	  
	 2.28
	    	Brokers or Finders	  	 	20	  
		
	 ARTICLE 3 REPRESENTATIONS AND WARRANTIES OF BUYERS
	  	 	20	  
	 3.1
	    	Organization and Good Standing	  	 	20	  
	 3.2
	    	Authority; No Conflict	  	 	21	  
	 3.3
	    	Investment Intent	  	 	21	  
	 3.4
	    	Certain Proceedings	  	 	21	  
	 3.5
	    	Financial Capability	  	 	21	  
	 3.6
	    	Brokers or Finders	  	 	22	  
		
	 ARTICLE 4 COVENANTS OF SELLER PRIOR TO CLOSING DATE
	  	 	22	  
	 4.1
	    	Access and Investigation	  	 	22	  

  
 -i-

							
	 4.2
	    	Operation of the Businesses of the Acquired Company	  	 	22	  
	 4.3
	    	Negative Covenant	  	 	22	  
	 4.4
	    	Required Approvals	  	 	23	  
	 4.5
	    	Notification	  	 	23	  
	 4.6
	    	Payment of Indebtedness to Related Persons	  	 	23	  
	 4.7
	    	No Negotiation	  	 	23	  
	 4.8
	    	Best Efforts	  	 	24	  
		
	 ARTICLE 5 COVENANTS OF BUYERS PRIOR TO CLOSING DATE
	  	 	24	  
	 5.1
	    	Approvals of Governmental Bodies	  	 	24	  
	 5.2
	    	Best Efforts	  	 	24	  
	 5.3
	    	Repayment of MF Credit Facility Obligations	  	 	24	  
		
	 ARTICLE 6 CONDITIONS PRECEDENT TO BUYERS’ OBLIGATION TO CLOSE
	  	 	24	  
	 6.1
	    	Accuracy of Representations	  	 	24	  
	 6.2
	    	Seller’s Performance	  	 	25	  
	 6.3
	    	Consents	  	 	25	  
	 6.4
	    	Additional Documents	  	 	25	  
	 6.5
	    	No Proceedings	  	 	25	  
	 6.6
	    	No Claim Regarding Stock Ownership or Sale Proceeds	  	 	25	  
	 6.7
	    	No Prohibition	  	 	26	  
	 6.8
	    	Confirmation of Intentions of Vendors	  	 	26	  
	 6.9
	    	Amendment to Logipartners’ Logistics Services Agreement	  	 	26	  
		
	 ARTICLE 7 CONDITIONS PRECEDENT TO SELLER’S OBLIGATION TO CLOSE
	  	 	26	  
	 7.1
	    	Accuracy of Representations	  	 	27	  
	 7.2
	    	Buyers’ Performance	  	 	27	  
	 7.3
	    	Additional Documents	  	 	27	  
	 7.4
	    	No Injunction	  	 	27	  
		
	 ARTICLE 8 CLOSING OBLIGATIONS
	  	 	27	  
	 8.1
	    	Closing Deliveries by Seller	  	 	27	  
	 8.2
	    	Closing Deliveries by Buyers	  	 	28	  
		
	 ARTICLE 9 TERMINATION
	  	 	28	  
	 9.1
	    	Termination Events	  	 	28	  
	 9.2
	    	Effect of Termination	  	 	29	  
		
	 ARTICLE 10 INDEMNIFICATION; REMEDIES
	  	 	29	  
	 10.1
	    	Survival; Right to Indemnification Not Affected by Knowledge	  	 	29	  
	 10.2
	    	Indemnification and Payment of Damages by Seller	  	 	29	  
	 10.3
	    	Indemnification and Payment of Damages by Buyers	  	 	30	  
	 10.4
	    	Time Limitations	  	 	30	  
	 10.5
	    	Limitations on Amount—Seller	  	 	30	  
	 10.6
	    	Limitations on Amount—Buyers	  	 	31	  
	 10.7
	    	Right of Set-Off	  	 	31	  
	 10.8
	    	Procedure for Indemnification—Third Party Claims	  	 	31	  

  
 -ii-

							
	 10.9
	    	Procedure for Indemnification—Other Claims	  	 	32	  
	 10.10
	    	Reduction for Insurance, Taxes and Other Offsets	  	 	32	  
	 10.11
	    	Indemnification Adjusts Purchase Price for Tax Purposes	  	 	33	  
		
	 ARTICLE 11 POST-CLOSING COVENANTS
	  	 	33	  
	 11.1
	    	Compliance with Agreements	  	 	33	  
	 11.2
	    	Name Change	  	 	33	  
	 11.3
	    	Employee Retention	  	 	33	  
	 11.4
	    	Other Business Matters	  	 	34	  
		
	 ARTICLE 12 GENERAL PROVISIONS
	  	 	34	  
	 12.1
	    	Expenses	  	 	34	  
	 12.2
	    	Public Announcements	  	 	34	  
	 12.3
	    	Confidentiality	  	 	34	  
	 12.4
	    	Notices	  	 	35	  
	 12.5
	    	Jurisdiction; Service of Process	  	 	36	  
	 12.6
	    	Further Assurances	  	 	36	  
	 12.7
	    	Waiver	  	 	36	  
	 12.8
	    	Entire Agreement and Modification	  	 	37	  
	 12.9
	    	Disclosure Letter	  	 	37	  
	 12.10
	    	Assignments, Successors, and No Third-Party Rights	  	 	37	  
	 12.11
	    	Severability	  	 	37	  
	 12.12
	    	Section Headings, Construction	  	 	37	  
	 12.13
	    	Time of Essence	  	 	38	  
	 12.14
	    	Governing Law	  	 	38	  
	 12.15
	    	Counterparts	  	 	38	  
		
	 ARTICLE 13 DEFINITIONS
	  	 	38	  

  
 -iii-

 STOCK PURCHASE AGREEMENT 

This Stock Purchase Agreement (“Agreement”) is made as of November 12, 2010, by and among SYNNEX Investment Holdings
Corporation, a BVI corporation or its designee(s) (“SYNNEX”), SB Pacific Corporation Limited, a Hong Kong corporation (“SB Pacific”) (SYNNEX and SB Pacific being individually referred to as “Buyer” and collectively as
“Buyers”) and Marubeni Corporation, a Japanese corporation (“Seller”). 
 RECITALS 

WHEREAS, Seller owns all of the outstanding shares of the capital stock of Marubeni Infotec Corporation, a Japanese corporation (the
“Acquired Company”); and 
 WHEREAS, Seller desires to sell and transfer to Buyers and Buyers desire to purchase from
Seller 14,616,350 common shares of the Acquired Company, being all of the issued and outstanding shares of common stock of the Acquired Company (the “Shares”), upon the terms and conditions set forth herein. 

AGREEMENT 

In consideration of the foregoing and the representations, warranties, covenants and agreements in this Agreement and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each of Seller and Buyers hereby agree as follows: 
 ARTICLE 1 
 SALE AND TRANSFER OF SHARES; CLOSING 

1.1 Sale of Shares 
 Subject to the terms and conditions of this Agreement, at the Closing, Seller will sell and transfer the Shares to Buyers, and Buyers will purchase the Shares from Seller, such that SYNNEX will purchase
the SYNNEX Allocated Shares and SB Pacific the SB Pacific Allocated Shares. 
 1.2 Purchase Price and Payment 

(a) Subject to the Adjustment Amount, the total purchase price (the “Purchase Price”) for the Shares will be Japanese Yen Seven
Hundred Million (JP¥700,000,000). 
 (b)(i) At the Closing, SYNNEX and SB Pacific will collectively pay Japanese Yen Five
Hundred Million (JP¥500,000,000) of the Purchase Price to Seller by wire transfer of immediately available funds to an account specified by Seller to the Buyers in writing at least ten (10) Business Days prior to Closing; and 

(ii) At the Closing, Buyers shall wire transfer an amount of Japanese Yen Two Hundred Million (JP¥200,000,000) (the “Escrow
Amount”) into a newly established Seller’s account located in Japan, which is separated from other bank accounts of Seller, at Seller’s main bank in Japan or another bank with Buyers’ consent, and the withdrawal of the Escrow
Amount shall be subject to 

  
 -1-

 
the mutual written agreement of Seller and Buyers (not to be unreasonably withheld), subject to the terms hereof. The Escrow Amount shall be deposited by Seller as collateral security for
liabilities of Seller to Buyers under this Agreement. All amount of the Escrow Amount will be fully released to Seller on the first anniversary of the Closing; provided, however, that if on or prior to the first anniversary of the Closing, any
Indemnified Persons has notified Seller of a claim and the claim(s) in such notification has(ve) not been finally resolved prior to such first anniversary, Seller shall retain the Escrow Amount, until such claim(s) is(are) finally resolved.

 1.3 Closing 
 The purchase and sale (the “Closing”) provided for in this Agreement will take place at the offices of Seller’s counsel in Tokyo, Japan, at 10:00 a.m. (local time) on the later of
(i) December 1, 2010 or (ii) at such other time and place as the parties hereto may agree. Subject to the provisions of Section 9.1, failure to consummate the purchase and sale provided for in this Agreement on the date and time
and at the place determined pursuant to this Section 1.3 will not result in the termination of this Agreement and will not relieve any party hereto of any obligation under this Agreement. 

1.4 Purchase Price Adjustment 
 (a) Seller and Buyers agree that the Purchase Price will be subject to adjustment calculated by the difference between (i) the shareholders’ equity figure of the Acquired Company as of
July 1, 2010, being a negative JP¥516,000,000, and which is shown by the balance sheet on Exhibit C, reflecting monthly rebate accruals, (the “Initial Balance Sheet”) and (ii) the shareholders’ equity figure set
forth in a balance sheet statement determined as of the Closing Date (the “Closing Balance Sheet”) as provided for hereinbelow. 
 (b) As promptly as practicable after the Closing, Buyers, after consultation with Seller shall cause to be prepared and delivered to Seller a Closing Balance Sheet, showing monthly rebate accruals, which
is prepared by an independent accounting firm acceptable to Seller and in a manner generally consistent with the Initial Balance Sheet. Seller will cooperate as reasonably requested by Buyers in connection with the preparation of the foregoing.
Buyers shall promptly provide to Seller upon request copies of all work papers and supporting documentation which form the basis of the Closing Balance Sheet. The accounting firm which prepared the Closing Balance Sheet will also provide its
calculation of the adjustment to the Purchase Price (the “Adjustment Amount Calculation”) determined in accordance with Section 1.4(a) above. 
 (c) If Seller disagrees with the aforesaid calculation of the Closing Balance Sheet and the Adjustment Amount Calculation, Seller shall have thirty (30) days after its receipt of the Closing Balance
Sheet and the Adjustment Amount Calculation to deliver to Buyers a statement (the “Objection Notice”) setting forth in reasonable detail any objection Seller has to the Closing Balance Sheet and the Adjustment Amount Calculation and
the basis for each such objection. If Seller does not deliver an Objection Notice to Buyers within such thirty (30) day period, or if Seller notifies Buyer in writing that the Closing Balance Sheet and the Adjustment Amount Calculation are
acceptable, then the Closing Balance Sheet and the Adjustment Amount Calculation shall be deemed to have been accepted by Seller and shall become final, conclusive and binding upon the parties to this Agreement and any amounts owing as a result
thereof shall be paid in accordance with Section 1.4(e). 

  
 -2-

 (d) If Seller does deliver an Objection Notice to Buyers within the thirty (30) day
period as set forth in Section 1.4(c), Buyers and Seller shall, for thirty (30) days after the Objection Notice has been given, negotiate in good faith to resolve the objections set forth in the Objection Notice. In connection with
such good faith negotiation, Seller shall promptly provide to Buyers upon request copies of all work papers and supporting documentation which form the basis of the Objection Notice. If, at the end of such thirty (30) day period, Buyers and
Seller are unable to agree upon the Closing Balance Sheet and an Adjustment Amount, then at any time thereafter upon request of Buyers or Seller, Buyers and Seller shall engage the Accounting Arbitrator to resolve any dispute regarding the Closing
Balance Sheet or the Adjustment Amount Calculation, as the case may be. As promptly as practicable thereafter (but in no event later than ten (10) days after the Accounting Arbitrator’s engagement), Buyers and Seller shall submit any
unresolved item set forth in the Objection Notice to the Accounting Arbitrator in writing together with any supporting arguments and documentation (each with a copy to the other party). Buyers and Seller shall direct that the Accounting Arbitrator
render his determination within fifteen (15) Business Days following his receipt of the responses from both parties, and Buyers and Seller and their respective representatives, will cooperate with the Accounting Arbitrator during his
engagement. The Accounting Arbitrator will consider only those issues related to the Closing Balance Sheet or the Adjustment Amount Calculation that Buyers and Seller have been unable to resolve. In resolving any disputed item, the Accounting
Arbitrator may not assign a value to any item greater than the greatest value assigned by Buyers or Seller for such item or less than the smallest value assigned by Buyers to Seller for such item. The Accounting Arbitrator’s determination will
be based on Japanese GAAP consistently applied (except to the extent that the line items contained therein vary from Japanese GAAP, in which case, preparation of such line item shall be so varied). The determination of the Accounting Arbitrator will
be conclusive and shall become final and binding on Buyers and Seller and any amounts owing as a result thereof shall be paid in accordance with Section 1.6(e). Buyers and Seller shall each pay one-half (1/2) of the fees and
expenses of the Accounting Arbitrator. 
 (e) All payments to be made pursuant to this Section 1.4 shall be by wire
transfer of immediately available funds to the account(s) designated in writing, at least three (3) Business Days prior to the scheduled payment date, by Buyers or Seller, as the case may be. 

ARTICLE 2 

REPRESENTATIONS AND WARRANTIES OF SELLER 
 Seller represents and warrants to Buyers as follows: 
 2.1 Organization and
Good Standing 
 (a) Seller is a corporation duly organized and validly existing under the laws of its jurisdiction of
incorporation, with full corporate power and authority to conduct its businesses as it is now being conducted. The Acquired Company is a corporation validly existing under the laws of its jurisdiction, with full corporate power and authority to
conduct the Acquired Company’s Businesses, to own or use the properties and assets that it purports to own or use, and to perform all its obligations under Applicable Contracts. 

(b) Seller has delivered to Buyers copies of the Organizational Documents. 

  
 -3-

 (c) Except as may be set forth in Part 2.1(c) of the Disclosure Letter, the Acquired Company
has no presently existing Subsidiary. 
 2.2 Authority; No Conflict 

(a) Upon the execution and delivery by Seller of this Agreement and each Ancillary Document of Seller, this Agreement and each Ancillary
Document of Seller will constitute the legal, valid, and binding obligations of Seller, enforceable against Seller in accordance with their respective terms. Seller has the right, power, authority, and capacity to execute and deliver this Agreement
and the Ancillary Documents of Seller and to perform its obligations under this Agreement and the Ancillary Documents of Seller. 
 (b) Except as set forth in Part 2.2 of the Disclosure Letter, neither the execution and delivery of this Agreement nor the consummation or performance of any of the Contemplated Transactions will,
directly or indirectly (with or without notice or lapse of time): 
 (i) contravene, conflict with, or result in
a violation of (A) any provision of the Organizational Documents of Seller or the Acquired Company, or (B) any resolution adopted by the board of directors or the stockholders of Seller or the Acquired Company; 

(ii) contravene, conflict with, or result in a violation of, or give any Governmental Body or other Person the right to
challenge any of the Contemplated Transactions or to exercise any remedy or obtain any relief under, any Legal Requirement or any Order to which the Acquired Company or Seller, or any of the assets owned or used by the Acquired Company, may be
subject; 
 (iii) contravene, conflict with, or result in a violation of any of the terms or requirements of, or
give any Governmental Body the right to revoke, withdraw, suspend, cancel, terminate, or modify, any Governmental Authorization that is held by the Acquired Company or that otherwise relates to the business of, or any of the assets owned or used by,
the Acquired Company; 
 (iv) cause the Acquired Company to become subject to, or to become liable for the
payment of, any Tax in Japan; 
 (v) cause any of the assets owned by the Acquired Company to be reassessed or
revalued by any Japanese taxing authority or other Japanese Governmental Body; 
 (vi) contravene, conflict with,
or result in a violation or breach of any provision of, or give any Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; or

 (vii) result in the imposition or creation of any Encumbrance upon or with respect to any of the assets owned
or used by the Acquired Company. 
 Except as set forth in Part 2.2 of the Disclosure Letter, neither Seller nor the
Acquired Company is or will be required to give any notice to or obtain any Consent from any Person in connection with the execution and delivery of this Agreement or the consummation or performance of any of the Contemplated Transactions.

  
 -4-

 2.3 Capitalization 

The authorized equity securities of the Company consist of 58,390,000 shares of common stock, zero (0) par value per share, of which
14,616,350 shares are issued and outstanding and constitute the Shares. Seller is and will be on the Closing Date the record and beneficial owner and holder of the Shares, free and clear of all Encumbrances. The Shares constitute all of the
outstanding equity and other securities of the Acquired Company. No legend or other reference to any purported Encumbrance appears upon any certificate representing equity securities of the Acquired Company. All of the outstanding equity securities
of the Acquired Company have been duly authorized and validly issued and are fully paid and nonassessable. There are no Contracts relating to the issuance, sale, or transfer of any equity securities or other securities of the Acquired Company. None
of the outstanding equity securities or other securities of the Acquired Company was issued in violation of any applicable securities law or any other Legal Requirement. Except as set forth in Part 2.3 of the Disclosure Letter, the Acquired Company
does not own, or have any Contract to acquire, any equity securities or other securities of any Person or any direct or indirect equity or ownership interest in any other business. 

2.4 Financial Statements 
 (a) Seller has delivered to Buyers: (i) unaudited balance sheets of the Acquired Company as at March 31st in each of the years 2008 through 2010, and the related unaudited statements of income,
changes in stockholders’ equity, and cash flow for each of the fiscal years then ended, together with the report thereon of Ernst & Young ShinNihon LLC, independent certified public accountants (the “Financial Statements”),
and (ii) an unaudited balance sheet of the Acquired Company as at September 30, 2010 (the “Interim Balance Sheet”) and the related unaudited statements of income, changes in stockholders’ equity, and cash flow for the seven
months then ended, including in each case the notes thereto. Such Financial Statements and notes fairly present the financial condition and the results of operations, changes in stockholders’ equity, and cash flow of the Acquired Company as at
the respective dates of and for the periods referred to in such financial statements, all in accordance with Japanese GAAP. The Financial Statements reflect the consistent application of such accounting principles throughout the periods involved. No
financial statements of any Person are required by Japanese GAAP to be included in the consolidated financial statements of the Acquired Company. 
 (b) The Acquired Company, to knowledge of Seller has established and maintains a system of internal accounting controls that are effective in providing reasonable assurance regarding the reliability of
the preparation of financial statements (including the Financial Statements), including policies and procedures that (a) require the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and
dispositions of the assets of the Acquired Company, (b) provide reasonable assurance that transactions are recorded as necessary to permit preparation of true and correct financial statements, and (c) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use or disposition of the assets of the Acquired Company. Neither the management of the Acquired Company nor the Acquired Company’s independent auditors has identified or been made
aware of (i) any significant deficiency or material weakness in the system of internal accounting controls utilized by the Acquired Company, (ii) any fraud, whether or not material, that involves the Acquired Company management or other
employees who have a role in the preparation of financial statements or the internal 

  
 -5-

 
accounting controls utilized by the Acquired Company or (iii) any claim or allegation regarding any of the foregoing. 

2.5 Books and Records 
 The currently existing books of account, minute books, stock record books, and other records of the Acquired Company, all of which have been made available to Buyers, are complete and correct in respect
to matters set forth therein during the period in which Seller has owned one hundred percent (100%) of the shares of the Acquired Company, and those materials have been maintained in accordance with sound business practices and the requirements
of Japanese law. In respect to the period in which Seller has one hundred percent (100%) of the shares of owned the Acquired Company, those minute books of the Acquired Company contain accurate and complete records of all meetings held of, and
corporate action taken by, the stockholders, the Board of Directors, and committees of the Board of Directors of the Acquired Company, and no meeting of any such stockholders, Board of Directors, or committee has been held during that period for
which minutes have not been prepared and are not contained in such minute books. At the Closing, all of those books and records will be in the possession of the Acquired Company. 

2.6 Title to Properties; Encumbrances 
 (a) Part 2.6 of the Disclosure Letter contains a complete and accurate list of all real estate, leaseholds, or other real property interests owned by the Acquired Company. Seller has delivered or
made available to Buyers copies of the deeds and other instruments (as recorded) by which the Acquired Company acquired such real property and interests, and copies of all title insurance policies, opinions, abstracts, and surveys in the possession
of Seller or the Acquired Company and relating to such property or interests. 
 (b) The Acquired Company owns (with good and
marketable title in the case of real property, subject only to the matters permitted by the following sentence) all the properties and assets (whether real, personal, or mixed and whether tangible or intangible) that it purports to own located in
the facilities owned or operated by the Acquired Company or reflected as owned in the books and records of the Acquired Company, including all of the properties and assets reflected in the Financial Statements and the Interim Balance Sheet (except
for assets held under capitalized leases disclosed or not required to be disclosed in Part 2.6 of the Disclosure Letter and personal property sold since the date of the Financial Statements and the Interim Balance Sheet, as the case may be, in
the Ordinary Course of Business), and all of the properties and assets purchased or otherwise acquired by the Acquired Company since the date of the Financial Statements (except for personal property acquired and sold since the date of the Financial
Statements in the Ordinary Course of Business and consistent with past practice), which subsequently purchased or acquired properties and assets (other than inventory and short-term investments) are listed in Part 2.6 of the Disclosure Letter.

 (c) All material properties and assets reflected in the Financial Statements and the Interim Balance Sheet are free and clear
of all Encumbrances and are not, in the case of real property, subject to any rights of way, building use restrictions, exceptions, variances, reservations, or limitations of any nature except, with respect to all such properties and assets,
(a) mortgages or security interests shown on the Financial Statements or the Interim Balance Sheet as securing specified liabilities or obligations, with respect to which no default (or event that, with notice or lapse of time or both, would
constitute a default) exists, 

  
 -6-

 
(b) mortgages or security interests incurred in connection with the purchase of property or assets after the date of the Interim Balance Sheet (such mortgages and security interests being
limited to the property or assets so acquired), with respect to which no default (or event that, with notice or lapse of time or both, would constitute a default) exists, (c) liens for current taxes not yet due, and (d) with respect to
real property, (i) minor imperfections of title, if any, none of which is substantial in amount, materially detracts from the value or impairs the use of the property subject thereto, or impairs the operations of the Acquired Company, and
(ii) zoning laws and other land use restrictions that do not impair the present or anticipated use of the property subject thereto. 
 (d) All buildings, plants, and structures owned by the Acquired Company lie wholly within the boundaries of the real property owned by the Acquired Company and do not encroach upon the property of, or
otherwise conflict with the property rights of, any other Person. 
 2.7 Condition and Sufficiency of Assets 

The buildings, plants, structures, and equipment of the Acquired Company are structurally sound, are in good operating condition and
repair, and are adequate for the uses to which they are being put, and none of such buildings, plants, structures, or equipment is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature
or cost. The building, plants, structures, and equipment of the Acquired Company are sufficient for the continued conduct of the Acquired Company’s Businesses after the Closing in substantially the same manner as conducted prior to the Closing.

 2.8 Accounts Receivable 
 All accounts receivable of the Acquired Company that are reflected on the Financial Statements or the Interim Balance Sheet or on the accounting records of the Acquired Company as of the Closing Date
(collectively, the “Accounts Receivable”) represent or will represent valid obligations arising from sales actually made or services actually performed in the Ordinary Course of Business. Unless paid prior to the Closing Date, the Accounts
Receivable are or will be as of the Closing Date current and collectible net of the respective reserves shown on the Financial Statements or the Interim Balance Sheet or on the accounting records of the Acquired Company as of the Closing Date (which
reserves are adequate and calculated consistent with past practice and, in the case of the reserve as of the Closing Date, will not represent a greater percentage of the Accounts Receivable as of the Closing Date than the reserve reflected in the
Interim Balance Sheet represented of the Accounts Receivable reflected therein and will not represent a material adverse change in the composition of such Accounts Receivable in terms of aging). Subject to such reserves, each of the Accounts
Receivable either has been or will be collected in full, without any set-off, within ninety days after the day on which it first becomes due and payable. There is no contest, claim, or right of set-off, other than returns in the Ordinary Course of
Business, under any Contract with any obligor of an Accounts Receivable relating to the amount or validity of such Accounts Receivable. Part 2.8 of the Disclosure Letter contains a complete and accurate list of all Accounts Receivable as of the date
of the Interim Balance Sheet, which list sets forth the aging of such Accounts Receivable. 

  
 -7-

 2.9 Inventory 

All inventory of the Acquired Company, whether or not reflected in the Financial Statements or the Interim Balance Sheet, consists of a
quality and quantity usable and salable in the Ordinary Course of Business, except for obsolete items and items of below-standard quality and any inventories aged ninety (90) days or more, all of which have been written off or written down to
net realizable value in the Financial Statements or the Interim Balance Sheet or on the accounting records of the Acquired Company as of the Closing Date, as the case may be. All inventories not written off have been priced at the lower of cost or
net realizable value on a first in, first out basis. The quantities of each item of inventory (whether raw materials, work-in-process, or finished goods) are not excessive, but are reasonable in the present circumstances of the Acquired Company.

 2.10 Liabilities 
 (a) Except as set forth in Part 2.10 of the Disclosure Letter, the Acquired Company has no liabilities or obligations of any nature (whether absolute, accrued, contingent, or otherwise) except for
liabilities or obligations reflected or reserved against in the Financial Statements or the Interim Balance Sheet and current liabilities incurred in the Ordinary Course of Business since the respective dates thereof. 

(b) The Acquired Company currently has a line of credit (the “MF Credit Facility”) opened with an affiliate company, Marubeni
Financial Services K.K., under which it has currently drawdown not exceed Japanese Yen Nine Billion Two Hundred Million (JP¥9,200,000,000) (the “MF Credit Obligation”) as of the date of this Agreement. The Acquired Company will not
hereafter increase its drawdowns under the MF Credit Facility so as to cause its debt obligations thereunder to be greater than the MF Credit Obligation as of the Closing Date. 

2.11 Taxes 
 (a) The Acquired Company has filed or caused to be filed (on a timely basis since March 31, 2004) all Tax Returns that are or were required to be filed by it, either separately or as a member of a
group of corporations, pursuant to applicable Legal Requirements. Seller has delivered or made available to Buyers copies of, and Part 2.11 of the Disclosure Letter contains a complete and accurate list of, all such Tax Returns filed since
March 31, 2004. The Acquired Company has paid, or made provision for the payment of, all Taxes that have or may have become due pursuant to those Tax Returns or otherwise, or pursuant to any assessment received by Seller or the Acquired
Company, except such Taxes, if any, as are listed in Part 2.11 of the Disclosure Letter and are being contested in good faith and as to which adequate reserves (determined in accordance with Japanese GAAP) have been provided in the Financial
Statements delivered to Buyers as set forth in Section 2.4 above. 
 (b) Part 2.11 of the Disclosure Letter contains a
complete and accurate list of all audits of all such Tax Returns, including a reasonably detailed description of the nature and outcome of each audit. All deficiencies proposed as a result of any such audits have been paid, reserved against,
settled, or, as described in Part 2.11 of the Disclosure Letter, are being contested in good faith by appropriate proceedings. Part 2.11 of the Disclosure Letter describes all adjustments to the Tax Returns filed by the Acquired Company
for all taxable years since March 31, 2004, and the resulting deficiencies proposed by the Japanese tax authorities. Except as described in Part 2.11 of the Disclosure Letter, neither Seller nor the

  
 -8-

 
Acquired Company has given or been requested to give waivers or extensions (or is or would be subject to a waiver or extension given by any other Person) of any statute of limitations relating to
the payment of Taxes of the Acquired Company or for which the Acquired Company may be liable. 
 (c) The charges, accruals, and
reserves with respect to Taxes on the respective books of the Acquired Company are adequate (determined in accordance with Japanese GAAP) and are at least equal to that Acquired Company’s liability for Taxes. There exists no proposed tax
assessment against the Acquired Company except as disclosed in the Financial Statements or in Part 2.11 of the Disclosure Letter. All Taxes that the Acquired Company is or was required by Legal Requirements to withhold or collect have been duly
withheld or collected and, to the extent required, have been paid to the proper Governmental Body or other Person. 
 (d) All
Tax Returns filed by (or that include on a consolidated basis) the Acquired Company are true, correct, and complete. There is no tax sharing agreement that will require any payment by the Acquired Company after the date of this Agreement.

 2.12 No Material Adverse Change 
 Since the date of the Financial Statements, there has not been any material adverse change in the business, operations, properties, prospects, assets, or condition of the Acquired Company, and no event
has occurred or circumstance exists that may result in such a material adverse change. 
 2.13 Employee Benefits

 (a) Except as set forth in Section 2.13(a) of the Disclosure Letter, the Acquired Company has not previously had or
currently has in place any “Benefit Plans,” as herein defined. 
 “Benefit Plan” means any of the following:
any plan, program, arrangement or agreement providing for severance or retention benefits, profit-sharing, fees, bonuses, stock options, stock appreciation, stock purchase or other stock-related rights, current compensation, incentive or deferred
compensation, change-in-control benefits, vacation benefits, insurance, health or medical benefits, dental benefits, employee assistance programs, disability benefits, workers’ compensation benefits or post-employment or retirement benefits and
any material fringe benefits (excluding any plans, programs or arrangements mandated by applicable law) that is sponsored, maintained or contributed to, or required to be maintained or contributed to, or with respect to which Liability is borne, by
Seller or the Acquired Company for the benefit of any employee of the Acquired Company. Seller has made available to Buyers for their inspection true and complete copies of the presently existing Benefit Plans of the Acquired Company. 

(b) Neither the execution of, nor consummation of, the Contemplated Transactions will (either alone or upon the occurrence of any
additional or subsequent event) constitute an event under any Benefit Plan that will or may result in any payment or provision of, acceleration of, vesting or increase in, any benefits (whether of severance pay or otherwise), with respect to any
current of former employee, independent contractor, consultant, agent or director of the Acquired Company thereof, or any beneficiary thereof, with respect to which the Acquired Company may have any obligations or material liability. 

  
 -9-

 (c) Except as set forth in Section 2.13(c) of the Disclosure Letter, there are no
unfunded obligations of the Acquired Company in respect to any Benefit Plans except as otherwise such may be expressly reserved on its Financial Statements and Interim Balance Sheet. 

(d) Seller has delivered to Buyers, or will deliver to Buyers within ten days of the date of this Agreement: 

(i) all documents that set forth the terms of each Benefit Plan; 

(ii) all personnel, payroll, and employment manuals and policies; 

(iii) all collective bargaining agreements; 

(iv) all insurance policies purchased by or to provide benefits under any Benefit Plan; 

(v) all contracts with third party administrators, actuaries, investment managers, consultants, and other independent
contractors that relate to any Benefit Plan; and 
 (vi) all reports submitted within the four years preceding
the date of this Agreement by third party administrators, actuaries, investment managers, consultants, or other independent contractors with respect to any Benefit Plan. 
 (e) Except as set forth in Part 2.13(e) of the Disclosure Letter: 

(i) The Acquired Company has performed all of its respective obligations under the Benefit Plans. The Acquired Company has
made appropriate entries in its financial records and statements for all obligations and liabilities under such Benefit Plans that have accrued but are not due. 
 (ii) No statement, either written or oral, has been made by the Acquired Company to any Person with regard to any Benefit Plan that was not in accordance with the Benefit Plan and that could have an
adverse economic consequence to the Acquired Company or to Buyers. 
 (iii) The Acquired Company, with respect to
all Benefit Plans is, and each Benefit Plan is, in full compliance with other applicable laws and with any applicable collective bargaining agreement. 
 (iv) No event has occurred or circumstance exists that could result in a material increase in premium costs of Benefit Plans that are insured, or a material increase in benefit costs of such Benefit Plan
that are self-insured. 
 2.14 Compliance With Legal Requirements; Governmental Authorizations 

(a) Except as set forth in Part 2.14 of the Disclosure Letter: 

(i) The Acquired Company is, and at all times since (A) to Seller’s knowledge, March 31, 2007 to
March 30, 2008, and (B) March 31, 2008, has been, in full compliance with each Legal Requirement that is or was applicable to it or to the 

  
 -10-

 
conduct or operation of the Acquired Company’s Businesses or the ownership or use of any of its assets; 

(ii) no event has occurred or circumstance exists that (with or without notice or lapse of time) (A) may constitute
or result in a violation by the Acquired Company of, or a failure on the part of the Acquired Company to comply with, any Legal Requirement, or (B) may give rise to any obligation on the part of the Acquired Company to undertake, or to bear all
or any portion of the cost of, any remedial action of any nature; and 
 (iii) the Acquired Company has not
received, at any time since (A) to Seller’s knowledge, March 31, 2007 to March 30, 2008, and (B) March 31, 2008, any notice or other communication (whether oral or written) from any Governmental Body or any other Person
regarding (A) any actual, alleged, possible, or potential violation of, or failure to comply with, any Legal Requirement, or (B) any actual, alleged, possible, or potential obligation on the part of the Acquired Company to undertake, or to
bear all or any portion of the cost of, any remedial action of any nature. 
 (b) Part 2.14 of the Disclosure Letter contains a
complete and accurate list of each Governmental Authorization that is held by the Acquired Company or that otherwise relates to the business of, or to any of the assets owned or used by, the Acquired Company. Each Governmental Authorization listed
or required to be listed in Part 2.14 of the Disclosure Letter is valid and in full force and effect. 
 No event has occurred
or circumstance exists that may (with or without notice or lapse of time) (A) constitute or result directly or indirectly in a violation of or a failure to comply with any term or requirement of any Governmental Authorization listed or required
to be listed in Part 2.14 of the Disclosure Letter, or (B) result directly or indirectly in the revocation, withdrawal, suspension, cancellation, or termination of, or any modification to, any Governmental Authorization listed or required to be
listed in Part 2.14 of the Disclosure Letter. 
 All applications required to have been filed for the renewal of the
Governmental Authorization listed or required to be listed in Part 2.14 of the Disclosure Letter have been duly filed on a timely basis with the appropriate Governmental Bodies, and all other filings required to have been made with respect to such
Governmental Authorizations have been duly made on a timely basis with the appropriate Governmental Bodies. 
 The Governmental
Authorizations listed in Part 2.14 of the Disclosure Letter collectively constitute all of the Governmental Authorizations necessary to permit the Acquired Company to lawfully conduct and operate the Acquired Company’s Businesses in the manner
they currently conduct and operate such businesses and to permit the Acquired Company to own and use its assets in the manner in which it currently own and use such assets. 
 2.15 Legal Proceedings; Orders 
 (a) Except as set forth in Part 2.15 of the
Disclosure Letter, there is no pending Proceeding: 

  
 -11-

 (i) that has been commenced by or against the Acquired Company or that
otherwise relates to or may affect the business of, or any of the assets owned or used by, the Acquired Company; or 
 (ii) that challenges, or that may have the effect of preventing, delaying, making illegal, or otherwise interfering with, any of the Contemplated Transactions. 

To the Knowledge of Seller and the Acquired Company, (1) no such Proceeding has been Threatened, and (2) no event has occurred
or circumstance exists that may give rise to or serve as a basis for the commencement of any such Proceeding. Seller has delivered to Buyers copies of all pleadings, correspondence, and other documents relating to each Proceeding listed in Part 2.15
of the Disclosure Letter. The Proceedings listed in Part 2.15 of the Disclosure Letter will not have a material adverse effect on the business, operations, assets, condition, or prospects of the Acquired Company. 

(b) There is no Order to which the Acquired Company, or any of the assets owned or used by the Acquired Company, is subject. No officer,
director, agent, or employee of the Acquired Company is subject to any Order that prohibits such officer, director, agent, or employee from engaging in or continuing any conduct, activity, or practice relating to the business of the Acquired
Company. 
 2.16 Absence of Certain Changes and Events 

Except as set forth in Part 2.16 of the Disclosure Letter, since March 31, 2010, the Acquired Company has conducted its businesses
only in the Ordinary Course of Business and there has not been any: 
 (a) change in any Acquired Company’s authorized or
issued capital stock; grant of any stock option or right to purchase shares of capital stock of the Acquired Company; issuance of any security convertible into such capital stock; grant of any registration rights; purchase, redemption, retirement,
or other acquisition by the Acquired Company of any shares of any such capital stock; or declaration or payment of any dividend or other distribution or payment in respect of shares of capital stock; 

(b) amendment to the Organizational Documents of the Acquired Company; 

(c) payment or increase by the Acquired Company of any bonuses, salaries, or other compensation to any stockholder, director, officer, or
(except in the Ordinary Course of Business) employee or entry into any employment, severance, or similar Contract with any director, officer, or employee; 
 (d) adoption of, or increase in the payments to or benefits under, any profit sharing, bonus, deferred compensation, savings, insurance, pension, retirement, or other employee benefit plan for or with any
employees of the Acquired Company; 
 (e) damage to or destruction or loss of any asset or property of the Acquired Company,
whether or not covered by insurance, materially and adversely affecting the properties, assets, business, financial condition, or prospects of the Acquired Company, taken as a whole; 

(f) entry into, termination of, or receipt of notice of termination of (i) any license, distributorship, dealer, sales
representative, joint venture, credit, or similar agreement, or (ii)

  
 -12-

 
any Contract or transaction involving a total remaining commitment by or to the Acquired Company of at least JP¥10 million; 

(g) sale (other than sales of inventory in the Ordinary Course of Business), lease, or other disposition of any asset or property of the
Acquired Company or mortgage, pledge, or imposition of any lien or other encumbrance on any material asset or property of the Acquired Company, including the sale, lease, or other disposition of any of the Intellectual Property Assets; 

(h) cancellation or waiver of any claims or rights with a value to the Acquired Company in excess of JP¥10 million; 

(i) material change in the accounting methods used by the Acquired Company; or 

(j) agreement, whether oral or written, by the Acquired Company to do any of the foregoing. 

2.17 Contracts; No Defaults 
 (a) Part 2.17(a) of the Disclosure Letter contains a complete and accurate list, and Seller has delivered to Buyers true and complete copies, of each Applicable Contract. 

(b) Except as set forth in Part 2.17(b) of the Disclosure Letter: 

(i) Seller (and no Related Person of Seller) has not presently acquired any rights under, and Seller will not become
subject to any obligation or liability under, any Contract that relates to the Acquired Company’s Business or any of the assets owned or used by the Acquired Company; and 

(ii) no officer, director, agent, employee, consultant, or contractor of the Acquired Company is bound by any Contract
that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Acquired Company, or (B) assign to the
Acquired Company or to any other Person any rights to any invention, improvement, or discovery. 
 (c) Except as set forth in
Part 2.17(c) of the Disclosure Letter, each Applicable Contract identified or required to be identified in Part 2.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms. 

(d) Except as set forth in Part 2.17(d) of the Disclosure Letter: 

(i) the Acquired Company is in full compliance with all applicable terms and requirements of each Applicable Contract;

 (ii) no event has occurred or circumstance exists that (with or without notice or lapse of time) may
contravene, conflict with, or result in a violation or breach of, or give the Acquired Company, to knowledge of Seller, or other Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or
to cancel, terminate, or modify, any Applicable Contract. 

  
 -13-

 2.18 Insurance 

(a) Seller has delivered to Buyers: 
 (i) true and complete copies of all policies of insurance to which the Acquired Company is a party or under which the Acquired Company, or any director of any Acquired Company, is or has been covered at
any time within the two (2) years preceding the date of this Agreement; 
 (ii) true and complete copies of
all pending applications for policies of insurance; and 
 (iii) any statement by the auditor of the Acquired
Company’s financial statements with regard to the adequacy of such entity’s coverage or of the reserves for claims. 

(b) Part 2.18(b) of the Disclosure Letter describes all obligations of the Acquired Company to third parties with respect to insurance
(including such obligations under leases and service agreements) and identifies the policy under which such coverage is provided. 
 (c) Part 2.18(c) of the Disclosure Letter sets forth, by year, for the current policy year and of the preceding policy year a summary of the loss experience under each policy. 

(d) Except as set forth on Part 2.18(d) of the Disclosure Letter: 

(i) All policies to which the Acquired Company is a party or that provide coverage to the Acquired Company, or any
director or officer of an Acquired Company: 
 (A) are valid, outstanding, and enforceable; 

(B) are issued by an insurer that is, to its knowledge, financially sound and reputable; 

(C) taken together, provide adequate insurance coverage for the assets and the operations of the Acquired Company for all
risks to which the Acquired Company are normally exposed; and 
 (D) do not provide for any retrospective premium
adjustment or other experienced-based liability on the part of the Acquired Company. 
 (ii) The Acquired Company
has paid all premiums due, and has otherwise performed all of its obligations under each policy to which the Acquired Company is a party or that provides coverage to the Acquired Company or director thereof. 

(iii) The Acquired Company has given notice to the insurer of all claims that may be insured thereby. 

2.19 Environmental Matters 
 Except as set forth in part 2.19 of the disclosure letter: 

  
 -14-

 (a) The Acquired Company is, and at all times has been, in full compliance with, and has not
been and is not in violation of or liable under, any Environmental Law during the period in which Seller has owned one hundred percent (100%) of the issued shares of the Acquired Company. Neither Seller nor the Acquired Company has any basis to
expect, nor has any of them or any other Person for whose conduct the Acquired Company or may be held to be responsible received, any actual or Threatened Order, notice, or other communication from (i) any Governmental Body or private citizen
acting in the public interest, or (ii) the current or prior owner or operator of any Facilities, of any actual or potential violation or failure to comply with any Environmental Law, or of any actual or Threatened obligation to undertake or
bear the cost of any Environmental, Health, and Safety Liabilities with respect to any of the Facilities or any other properties or assets (whether real, personal, or mixed) in which the Acquired Company has had an interest, or with respect to any
property or Facility at or to which Hazardous Materials were generated, manufactured, refined, transferred, imported, used, or processed by Seller, the Acquired Company, or any other Person for whose conduct it is or may be held responsible, or from
which Hazardous Materials have been transported, treated, stored, handled, transferred, disposed, recycled, or received. 
 (b)
Neither the Acquired Company, nor any other Person for whose conduct it is or may be held responsible, has any Environmental, Health, and Safety Liabilities with respect to any of the Facilities or any other properties and assets (whether real,
personal, or mixed) in which the Acquired Company, has or had an interest, or at any property geologically or hydrologically adjoining the Facilities or any such other property or assets. 

(c) There are no Hazardous Materials present on or in the Environment at the Facilities or, to the knowledge of Seller, at any
geologically or hydrologically adjoining property. 
 (d) There has been no Release or, to the Knowledge of Seller and the
Acquired Company, Threat of Release, of any Hazardous Materials at or from the Facilities or at any other locations where any Hazardous Materials were generated, manufactured, refined, transferred, produced, imported, used, or processed from or by
the Facilities, or from or by any other properties and assets (whether real, personal, or mixed) in which the Acquired Company has or had an interest, or to the Knowledge of Seller and the Acquired Company any geologically or hydrologically
adjoining property, whether by the Acquired Company, or any other Person. 
 (e) Seller has delivered to Buyers true and
complete copies and results of any reports, studies, analyses, tests, or monitoring possessed or initiated by Seller or the Acquired Company pertaining to Hazardous Materials or Hazardous Activities in, on, or under the Facilities, or concerning
compliance by the Acquired Company, or any other Person for whose conduct it may be held responsible, with Environmental Laws. 

2.20 Employees 
 (a) Part 2.20 of the Disclosure Letter contains a complete and accurate list of the following information for each employee or director of the Acquired Company, including each employee on leave of absence
or layoff status: employee name; job title; current compensation paid or payable; and service credited for purposes of vesting and eligibility to participate under the Acquired Company’s pension, retirement, profit-sharing, thrift-savings,
deferred compensation, stock bonus, stock option, cash bonus, employee stock ownership 

  
 -15-

 
(including investment credit or payroll stock ownership), severance pay, insurance, medical, welfare, or vacation plan or other director or employee Benefit Plan. 

(b) No employee or director of the Acquired Company is a party to, or is otherwise bound by, any agreement or arrangement, including any
confidentiality, noncompetition, or proprietary rights agreement, between such employee or director and any other Person (“Proprietary Rights Agreement”) that in any way adversely affects or will affect (i) the performance of his
duties as an employee or director of the Acquired Company, or (ii) the ability of the Acquired Company to conduct the Acquired Company’s Businesses. To Seller’s Knowledge, no director or executives level employees of the Acquired
Company intends to terminate his or her employment with the Acquired Company. 
 (c) Part 2.20 of the Disclosure Letter also
contains a complete and accurate list of the following information for each retired employee or director of the Acquired Company, or their dependents, receiving benefits or scheduled to receive benefits in the future: name, pension benefit, pension
option election, retiree medical insurance coverage, retiree life insurance coverage, and other benefits. 
  

	2.21	Labor Relations; Compliance 

 Since March 31, 2007, the Acquired Company has not been nor is it a party to any collective bargaining or other labor Contract. Since March 31, 2007, there has not been, there is not presently
pending or existing, and, to Seller’s knowledge, there is not Threatened, (a) any strike, slowdown, picketing, work stoppage, or employee grievance process, (b) any Proceeding against or affecting the Acquired Company relating to the
alleged violation of any Legal Requirement pertaining to labor relations or employment matters, including any charge or complaint filed by an employee or union with any relevant Governmental Body, organizational activity, or other labor or
employment dispute against or affecting any of the Acquired Company or its premises, or (c) any application for certification of a collective bargaining agent. The Acquired Company has complied in all respects with all Legal Requirements
relating to employment, equal employment opportunity, nondiscrimination, immigration, wages, hours, benefits, collective bargaining, the payment of social security and similar taxes, occupational safety and health, and plant closing. The Acquired
Company is not liable for the payment of any compensation, damages, taxes, fines, penalties, or other amounts, however designated, for failure to comply with any of the foregoing Legal Requirements. 

2.22 Intellectual Property 
 (a) Intellectual Property Assets. The term “Intellectual Property Assets” includes all of the following which exist with the Acquired Company as of the date hereof and as to which the
Acquired Company will acquire prior to Closing: 
 (i) the company name, all fictional business names, trading
names, registered and unregistered trademarks, service marks, and applications (collectively, “Marks”); 
 (ii) all patents, patent applications, and inventions and discoveries that may be patentable (collectively, “Patents”); 

(iii) all copyrights in both published works and unpublished works (collectively, “Copyrights”); 

  
 -16-

 (iv) all rights in mask works (collectively, “Rights in Mask
Works”); and 
 (v) all know-how, trade secrets, confidential information, customer lists, software,
technical information, data, process technology, plans, drawings, and blue prints (collectively, “Trade Secrets”); owned, used, or licensed by the Acquired Company as licensee or licensor. 

(b) Agreements. Part 2.22(b) of the Disclosure Letter contains a complete and accurate list and summary description, including any
royalties paid or received by the Acquired Company, of all Contracts relating to the Intellectual Property Assets to which the Acquired Company is a party or by which the Acquired Company is bound, except for any license implied by the sale of a
product and perpetual, paid-up licenses for commonly available software programs with a value of less than JP¥5 million under which the Acquired Company is the licensee. There are no outstanding and, to Seller’s Knowledge, no Threatened
disputes or disagreements with respect to any such Contracts. 
 (c) Know-How Necessary for the Business 

(i) The Intellectual Property Assets are all those necessary for the operation of the Acquired Company’s Businesses
as they are currently conducted. The Acquired Company is the owner of all right, title, and interest in and to each of the Intellectual Property Assets, free and clear of all liens, security interests, charges, encumbrances, equities, and other
adverse claims, and has the right to use without payment to a third party all of the Intellectual Property Assets. 
 (ii) Except as set forth in Part 2.22(c) of the Disclosure Letter, all former and current employees of the Acquired Company have executed written Contracts with the Acquired Company that assign to
the Acquired Company all rights to any inventions, improvements, discoveries, or information relating to the business of the Acquired Company. No employee of the Acquired Company has entered into any Contract that restricts or limits in any way the
scope or type of work in which the employee may be engaged or requires the employee to transfer, assign, or disclose information concerning his work to anyone other than the Acquired Company. 

(d) Patents 
 (i) Part 2.22(d) of the Disclosure Letter contains a complete and accurate list and summary description of all Patents. The Acquired Company is the owner of all right, title, and interest in and to each
of the Patents, free and clear of all liens, security interests, charges, encumbrances, entities, and other adverse claims. 
 (ii) All of the issued Patents are currently in compliance with formal legal requirements (including payment of filing, examination, and maintenance fees and proofs of working or use), are valid and
enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety days after the Closing Date. 
 (iii) No Patent has been or is now involved in any interference, reissue, reexamination, or opposition proceeding. To Seller’s Knowledge or that of the Acquired Company, there is no potentially
interfering patent or patent application of any third party. 

  
 -17-

 (iv) To Seller’s knowledge, no Patent is infringed or, to Seller’s
Knowledge or that of the Acquired Company, has been challenged or threatened in any way. To Seller’s knowledge, none of the products manufactured and sold, nor any process or know-how used, by the Acquired Company infringes or is alleged to
infringe any patent or other proprietary right of any other Person. 
 (v) All products made, used, or sold under
the Patents have been marked with the proper patent notice. 
 (e) Trademarks 

(i) Part 2.22(e) of Disclosure Letter contains a complete and accurate list and summary description of all Marks. The
Acquired Company is the owner of all right, title, and interest in and to each of the Marks, free and clear of all liens, security interests, charges, encumbrances, equities, and other adverse claims. 

(ii) All Marks that have been registered with the Japanese Trademark Office are currently in compliance with all formal
legal requirements (including the timely post-registration filing of affidavits of use and incontestability and renewal applications), are valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within
ninety days after the Closing Date. 
 (iii) No Mark has been or is now involved in any opposition, invalidation,
or cancellation and, to Seller’s Knowledge or that of the Acquired Company, no such action is Threatened with the respect to any of the Marks. 
 (iv) To Seller’s Knowledge or that of the Acquired Company, there is no potentially interfering trademark or trademark application of any third party. 

(v) To Seller’s knowledge, no Mark is infringed or, to Seller’s Knowledge or that of the Acquired Company, has
been challenged or threatened in any way. To Seller’s knowledge, none of the Marks used by the Acquired Company infringes or is alleged to infringe any trade name, trademark, or service mark of any third party. 

(vi) All products and materials containing a Mark bear the proper registration notice where permitted by law. 

(f) Copyrights 
 (i) Part 2.22(f) of the Disclosure Letter contains a complete and accurate list and summary description of all Copyrights. The Acquired Company is the owner of all right, title, and interest in and to
each of the Copyrights, free and clear of all liens, security interests, charges, encumbrances, equities, and other adverse claims. 
 (ii) All the Copyrights are currently in compliance with formal legal requirements, are valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety
days after the date of Closing. 
 (iii) To Seller’s knowledge, no Copyright is infringed or, to
Seller’s Knowledge or that of the Acquired Company, has been challenged or threatened in any way. To Seller’s knowledge, none of the subject matter of any of the Copyrights 

  
 -18-

 
infringes or is alleged to infringe any copyright of any third party or is a derivative work based on the work of a third party. 

(iv) All works encompassed by the Copyrights have been marked with the proper copyright notice. 

(g) Trade Secrets 
 (i) With respect to each Trade Secret, the documentation relating to such Trade Secret is current, accurate, and sufficient in detail and content to identify and explain it and to allow its full and
proper use without reliance on the knowledge or memory of any individual. 
 (ii) Seller and the Acquired Company
have taken all reasonable precautions to protect the secrecy, confidentiality, and value of their Trade Secrets. 

(iii) The Acquired Company has good title and the (but not necessarily exclusive) right to use the Trade Secrets. The
Trade Secrets are not part of the public knowledge or literature, and, to Seller’s Knowledge or that of the Acquired Company, have not been used, divulged, or appropriated either for the benefit of any Person (other than one or more of the
Acquired Company) or to the detriment of the Acquired Company. No Trade Secret is subject to any adverse claim or has been challenged or threatened in any way. 
 2.23 Officers and Directors 
 Part 2.23 of the Disclosure Letter sets forth
a list of all current directors and officers of the Acquired Company. 
 2.24 Customers and Vendors 

(a) Part 2.24 of the Disclosure Letter sets forth a list of top revenue generated customers of the Acquired Company whose business with
the Acquired Company resulted in at least fifty percent (50.0%) gross revenues to the Acquired Company, based upon the Acquired Company’s calculation of gross revenues with respect to its customers, during the thirty-six (36) months
period ended March 31, 2010 (each, a “Major Customer”). Except as set forth on Part 2.24 of the Disclosure Letter, the Acquired Company has not received written notice from a Major Customer asserting that the Acquired Company has
breached or is in breach of its Contract with such Major Customer, which breach constitutes a material adverse effect on the Acquired Company. Except as set forth on Part 2.24 of the Disclosure Letter, no Major Customer has, for the six
(6) month period ended September 30, 2010, cancelled or reduced its relationship with the Acquired Company in an amount in excess of twenty percent (20.0%) of the gross revenue received from such Major Customer during the six
(6) month period ended September 30, 2009. 
 2.25 Certain Payments 

During the period in which Seller has owned one hundred percent (100%) of the shares of the Acquired Company, neither the Acquired
Company nor any director, officer, agent, or employee of the Acquired Company, or to Seller’s Knowledge, any other Person associated with or acting for or on behalf of the Acquired Company, has directly or indirectly (a) made any
contribution, gift, bribe, rebate (other than rebates in Ordinary Course of 

  
 -19-

 
Business), payoff, influence payment, kickback, or other payment to any Person, private or public, regardless of form, whether in money, property, or services (i) to obtain favorable
treatment in securing business, (ii) to pay for favorable treatment for business secured, (iii) to obtain special concessions or for special concessions already obtained, for or in respect of the Acquired Company or an Affiliate of the
Acquired Company, or (iv) in violation of any Legal Requirement, (b) established or maintained any fund or asset that has not been recorded in the books and records of the Acquired Company. 

2.26 Disclosure 
 No representation or warranty of Seller in this Agreement and no statement in the Disclosure Letter omits to state a material fact necessary to make the statements herein or therein, in light of the
circumstances in which they were made, not misleading. 
 2.27 Relationships With Related Persons 

Except as set forth in Part 2.27 of the Disclosure Letter, to Seller’s knowledge, neither Seller nor any Related Person of Seller or
of the Acquired Company has any interest in any property (whether real, personal, or mixed and whether tangible or intangible), used in or pertaining to the Acquired Company’s Businesses. To Seller’s knowledge, neither Seller nor any
Related Person of Seller or of the Acquired Company is an owner of an equity interest or any other financial or profit interest in, a Person that has (i) had business dealings or a material financial interest in any transaction with the
Acquired Company other than business dealings or transactions conducted in the Ordinary Course of Business with the Acquired Company at substantially prevailing market prices and on substantially prevailing market terms, or (ii) engaged in
competition with the Acquired Company with respect to any line of the products or services of the Acquired Company (a “Competing Business”) in any market presently served by the Acquired Company. Except as set forth in Part 2.27 of the
Disclosure Letter, neither Seller nor any Related Person of Seller or of the Acquired Company is a party to any Contract with, or has any claim or right against, the Acquired Company. For purposes of this Section 2.27 only, the term
“Seller’s knowledge” shall mean “the knowledge of Finance, Logistics and IT Business Division of Seller”. 
 2.28 Brokers or Finders 
 Seller and its agents have incurred no obligation
or liability, contingent or otherwise, for brokerage or finders’ fees or agents’ commissions or other similar payment in connection with this Agreement, and Seller will indemnify and hold Buyers harmless from any such payment alleged to be
due by or through Seller as a result of the action of either of Seller or its officers or agents. 
 ARTICLE 3 

REPRESENTATIONS AND WARRANTIES OF BUYERS 
 Each of the Buyers represents and warrants to Seller as follows: 
 3.1
Organization and Good Standing 
 Each of the Buyers, jointly and severally, is a corporation duly organized, validly
existing, and in good standing under the laws of the jurisdiction in which its organized. 

  
 -20-

 3.2 Authority; No Conflict 

(a) Upon the execution and delivery by Buyers of this Agreement and the Ancillary Documents of the Buyers, this Agreement and each
Ancillary Document of Buyers will constitute the legal, valid, and binding obligations of Buyers, enforceable against Buyers in accordance with their respective terms. Each of the Buyers has the absolute and unrestricted right, power, and authority
to execute and deliver this Agreement and the Ancillary Documents of the Buyers and to perform its obligations under this Agreement and the Ancillary Documents of the Buyers. 
 (b) Neither the execution nor delivery of this Agreement by each of the Buyers nor the consummation or performance of any of the Contemplated Transactions by each of the Buyers will give any Person the
right to prevent, delay, or otherwise interfere with any of the Contemplated Transactions pursuant to: 
 (i) any
provision of either of the Buyers Organizational Documents; 
 (ii) any resolution adopted by the board of
directors or the stockholders of either of the Buyers; 
 (iii) any Legal Requirement or Order to which either of
the Buyers may be subject; or 
 (iv) any Contract to which either of the Buyers is a party or by which either of
the Buyers may be bound. 
 Neither of the Buyers is nor will be required to obtain any Consent from any Person in connection
with the execution and delivery of this Agreement or the consummation or performance of any of the Contemplated Transactions. 

3.3 Investment Intent 
 Each of the Buyers is acquiring the Shares for its own account and not with a view to their distribution. 
 3.4 Certain Proceedings 
 There is no pending Proceeding that has been
commenced against either of the Buyers and that challenges, or may have the effect of preventing, delaying, making illegal, or otherwise interfering with, any of the Contemplated Transactions. To each of the Buyers’ Knowledge, no such
Proceeding has been Threatened. 
 3.5 Financial Capability 

Each of the Buyers (a) will have at the Closing all funds and available financing sufficient to consummate the Closing of the
Contemplated Transactions, including, without limitation, the payment of the Purchase Price to Seller and the payment of any fees and expenses in connection with the Contemplated Transactions or the financing thereof, and (b) will have
sufficient liquid assets and funds to satisfy all of its post-Closing obligations under this Agreement and the other documents and agreements contemplated herein. 

  
 -21-

 3.6 Brokers or Finders 

Neither of the Buyers nor its officers and agents have incurred any obligation or liability, contingent or otherwise, for brokerage or
finders’ fees or agents’ commissions or other similar payment in connection with this Agreement, and the Buyers will indemnify and hold Seller harmless from any such payment alleged to be due by or through either of the Buyers as a result
of the action of either of the Buyers or its officers or agents. 
 ARTICLE 4 

COVENANTS OF SELLER PRIOR TO CLOSING DATE 
 4.1 Access and Investigation 
 Between the date of this Agreement and the
Closing Date, Seller will, and will cause the Acquired Company and its Representatives to, (a) afford each of the Buyers and its and their Representatives and prospective lenders and their Representatives (collectively, “Buyers’
Advisors”) full and reasonable access to the Acquired Company’s personnel, properties, contracts, books and records, and other documents and data, (b) furnish Buyers and Buyers’ Advisors with copies of all such contracts, books
and records, and other existing documents and data as the Buyers may reasonably request, and (c) furnish Buyers and Buyers’ Advisors with such additional financial, operating, and other data and information as the Buyers may reasonably
request. 
 4.2 Operation of the Businesses of the Acquired Company 

Between the date of this Agreement and the Closing Date, Seller will, and will cause the Acquired Company to: 

(a) conduct the business of such Acquired Company only in the Ordinary Course of Business; 

(b) use its best efforts to preserve intact the current business organization of the Acquired Company, keep available the services of the
current officers, employees, and agents of the Acquired Company, and maintain the relations and good will with suppliers, customers, landlords, creditors, employees, agents, and others having business relationships with the Acquired Company;

 (c) confer with Buyers concerning operational matters of a material nature; and 

(d) otherwise report periodically to Buyers concerning the status of the business, operations, and finances of the Acquired Company.

 4.3 Negative Covenant 
 Except as otherwise expressly permitted by this Agreement, between the date of this Agreement and the Closing Date, Seller will cause the Acquired Company not to, without the prior consent of Buyers,
(a) enter into any employment agreements, (b) assume or incur any long term liabilities or (c) or take any affirmative action, or fail to take any reasonable action within their or its control, as a result of which any of the changes
or events listed in Section 2.16 is likely to occur. 

  
 -22-

 4.4 Required Approvals 

As promptly as practicable after the date of this Agreement, Seller will, and will cause the Acquired Company to, make all filings
required by Legal Requirements to be made by them in order to consummate the Contemplated Transactions (including any filings under applicable antitrust or other laws). Between the date of this Agreement and the Closing Date, Seller will, and will
cause the Acquired Company to, (a) cooperate with Buyers with respect to all filings that Buyers elect to make or is required by Legal Requirements to make in connection with the Contemplated Transactions, and (b) cooperate with Buyers in
obtaining all consents identified in Schedule 3.2. 
 4.5 Notification 

Between the date of this Agreement and the Closing Date, Seller will promptly notify Buyers in writing if Seller or the Acquired Company
becomes aware of any fact or condition that causes or constitutes a breach of any of Seller’s representations and warranties as of the date of this Agreement, or if Seller or the Acquired Company becomes aware of the occurrence after the date
of this Agreement of any fact or condition that would (except as expressly contemplated by this Agreement) cause or constitute a breach of any such representation or warranty had such representation or warranty been made as of the time of occurrence
or discovery of such fact or condition. Should any such fact or condition require any change in the Disclosure Letter if the Disclosure Letter were dated the date of the occurrence or discovery of any such fact or condition, Seller will promptly
deliver to Buyers a supplement to the Disclosure Letter specifying such change. During the same period, Seller will promptly notify Buyers of the occurrence of any breach of any covenant of Seller in this Section 4.5 or of the occurrence of any
event that may make the satisfaction of the conditions in Article 6 impossible or unlikely. 
 4.6 Payment of Indebtedness to
Related Persons 
 Other than in respect to the MF Credit Facility, Seller shall cause the Acquired Company to pay all
outstanding debt obligations, excluding trade payables, to Seller and any affiliated entity of Seller prior to Closing and to cancel any credit or loan agreement that the Acquired Company may have with Seller or any affiliated entity. 

4.7 No Negotiation 
 Until such time, if any, as this Agreement is terminated pursuant to Section 9.1, neither Seller nor the Acquired Company nor any of its or their officers, directors, agents or subsidiaries will,
directly or indirectly, through any officer, director, shareholder, partner, affiliate, employee, agent, investment banker, attorney, accountant or other representative or otherwise, (a) solicit, initiate or encourage the submission of any
proposal or offer from any Person (including any of its officers, directors, partners, shareholders, affiliates, employees, agents and other representatives) relating to any liquidation, dissolution, recapitalization of, merger or consolidation with
or into, or issuance or acquisition or purchase of all or substantially all of the assets of, or any of the capital stock or equity securities of, the Acquired Company or any of its subsidiaries or any other similar transactions or business
combination involving the Acquired Company or any of its subsidiaries, or (b) participate in any discussions or negotiations regarding, or furnish to any other Person any information with respect to, or otherwise cooperate in any way with, or
assist or participate in, facilitate or 

  
 -23-

 
encourage any effort or attempt by any other person or entity to do or seek to do any of the foregoing. 
 4.8 Best Efforts 
 Between the date of this Agreement and the Closing Date,
Seller will use its best efforts to cause the conditions in Articles 6 and 7 to be satisfied. 
 ARTICLE 5 

COVENANTS OF BUYERS PRIOR TO CLOSING DATE 
 5.1 Approvals of Governmental Bodies 
 As promptly as practicable after the
date of this Agreement, Buyers will, and will cause each of its Related Persons to, make all filings required by Legal Requirements to be made by them to consummate the Contemplated Transactions. Between the date of this Agreement and the Closing
Date, Buyers will, and will cause each Related Person to, cooperate with Seller with respect to all filings that Seller is required by Legal Requirements to make in connection with the Contemplated Transactions, and (ii) cooperate with Seller
in obtaining all consents identified in Part 3.2 of the Disclosure Letter; provided that this Agreement will not require Buyers to dispose of or make any change in any portion of its business or to incur any other burden to obtain a Governmental
Authorization. 
 5.2 Best Efforts 
 Except as set forth in the proviso to Section 5.1, between the date of this Agreement and the Closing Date, each of the Buyers will use its best efforts to cause the conditions in Articles 6 and 7 to
be satisfied. 
 5.3 Repayment of MF Credit Facility Obligations 

Buyers will provide new credit facility arrangements for the Acquired Company to be effective as of the Closing Date, whereby any then
existing debt obligation of the Acquired Company under the MF Credit Facility will be paid off in full as of the Closing Date. 

ARTICLE 6 

CONDITIONS PRECEDENT TO BUYERS’ OBLIGATION TO CLOSE 
 Buyers’ obligation to purchase the Shares and to take the other actions required to be taken by Buyers at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the
following conditions (any of which may be waived by Buyers collectively, in whole or in part): 
 6.1 Accuracy of
Representations 
 (a) All of Seller’s representations and warranties in this Agreement (considered collectively), and
each of these representations and warranties (considered individually), must have been accurate in all material respects as of the date of this Agreement, and must be accurate in all material respects as of the Closing Date as if made on the Closing
Date. 

  
 -24-

 (b) Notwithstanding the foregoing in respect to the Disclosure Letter, each of Seller’s
representations and warranties in Sections 2.1, 2.2, 2.3, 2.4, 2.12, 2.24 and 2.26 must have been accurate in all respects as of the date of this Agreement, and must be accurate in all respects as of the Closing Date as if made on the Closing Date,
without giving effect to any supplements to the Disclosure Letter provided to Buyers in accordance with Section 4.5 of this Agreement. 
 6.2 Seller’s Performance 
 (a) All of the covenants and obligations
that Seller is required to perform or to comply with pursuant to this Agreement at or prior to the Closing (considered collectively), and each of these covenants and obligations (considered individually), must have been duly performed and complied
with in all material respects. 
 (b) Each document required to be delivered pursuant to Section 8.1 must have been
delivered, and each of the other covenants and obligations in Article 4 must have been performed and complied with in all respects. 
 6.3 Consents 
 Each of the Consents identified in subpart (b) of
Part 2.2 of the Disclosure Letter must have been obtained and must be in full force and effect. 
 6.4 Additional
Documents 
 Seller shall deliver such other documents as Buyers may reasonably request prior to the Closing Date for the
purpose of (i) evidencing the accuracy of any of Seller’s representations and warranties, (ii) evidencing the performance by Seller of, or the compliance by Seller with, any covenant or obligation required to be performed or complied
with by Seller, (iii) evidencing the satisfaction of any condition referred to in this Section 6.4, or (iv) otherwise facilitating the consummation or performance of any of the Contemplated Transactions. 

6.5 No Proceedings 
 Since the date of this Agreement, there must not have been commenced or Threatened against either of the Buyers, or against any Person affiliated with either of the Buyers, any Proceeding
(a) involving any challenge to, or seeking damages or other relief in connection with, any of the Contemplated Transactions, or (b) that may have the effect of preventing, delaying, making illegal, or otherwise interfering with any of the
Contemplated Transactions. 
 6.6 No Claim Regarding Stock Ownership or Sale Proceeds 

There must not have been made or Threatened by any Person any claim asserting that such Person (a) is the holder or the beneficial
owner of, or has the right to acquire or to obtain beneficial ownership of, any stock of, or any other voting, equity, or ownership interest in, the Acquired Company, or (b) is entitled to all or any portion of the Purchase Price payable for
the Shares. 

  
 -25-

 6.7 No Prohibition 

Neither the consummation nor the performance of any of the Contemplated Transactions will, directly or indirectly (with or without notice
or lapse of time), materially contravene, or conflict with, or result in a material violation of, or cause either of the Buyers or any Person affiliated with either of the Buyers to suffer any material adverse consequence under, (a) any
applicable Legal Requirement or Order, or (b) any Legal Requirement or Order that has been published, introduced, or otherwise proposed by or before any Governmental Body. 

6.8 Confirmation of Intentions of Vendors 
 Seller shall have received confirmations in forms reasonably acceptable to Buyers from at least nine (9) out of the following ten (10) vendors that it is each of their present intentions to
continue to do business with the Company after Closing generally in the same manner and volumes as currently undertaken by them with the Company: 
 (a) Hewlett-Packard; 
 (b) ASUSTEK COMPUTER; 

(c) Microsoft; 

(d) Lenovo; 

(e) Adobe Systems; 
 (f) Acer; 
 (g) EPSON; 

(h) BUFFALO; 

(i) IODATA; and 

(j) Allied Telesis. 
 6.9 Amendment to Logipartners’ Logistics Services Agreement 
 Buyers
shall have received an amendment agreement of existing Logistics Services Agreement between the Acquired Company and Logipartners Inc. in a form reasonably acceptable to Buyers. 

ARTICLE 7 

CONDITIONS PRECEDENT TO SELLER’S OBLIGATION TO CLOSE 
 Seller’s obligation to sell the Shares and to take the other actions required to be taken by Seller at the Closing is subject to the satisfaction, at or prior to the Closing, of each of the following
conditions (any of which may be waived by Seller, in whole or in part): 

  
 -26-

 7.1 Accuracy of Representations 

All of Buyers’ representations and warranties in this Agreement (considered collectively), and each of these representations and
warranties (considered individually), must have been accurate in all material respects as of the date of this Agreement and must be accurate in all material respects as of the Closing Date as if made on the Closing Date. 

7.2 Buyers’ Performance 
 (a) All of the covenants and obligations that Buyers are required to perform or to comply with pursuant to this Agreement at or prior to the Closing (considered collectively), and each of these covenants
and obligations (considered individually), must have been performed and complied with in all material respects. 
 (b) Each
document required to be delivered pursuant to Section 8.2 must have been delivered; each of the covenants and obligations in Article 5 must have been performed and coupled with in all respects; and Buyers must have made the cash payments
required to be made by Buyers pursuant to Section 1.2(b). 
 7.3 Additional Documents 

Buyers shall deliver to Seller such other documents as Seller may reasonably request prior to the Closing Date for the purpose of
(i) evidencing the accuracy of any representation or warranty of Buyers, (ii) evidencing the performance by Buyers of, or the compliance by Buyers with, any covenant or obligation required to be performed or complied with by Buyers,
(iii) evidencing the satisfaction of any condition referred to in this Section 7.3, or (iv) otherwise facilitating the consummation or performance of any of the Contemplated Transactions. 

7.4 No Injunction 
 There must not be in effect any Legal Requirement or any injunction or other Order that (a) prohibits the sale of the Shares by Seller to Buyers, and (b) has been adopted or issued, or has
otherwise become effective, since the date of this Agreement. 
 ARTICLE 8 

CLOSING OBLIGATIONS 
 8.1 Closing Deliveries by Seller 
 At the Closing, Seller shall deliver to
Buyers: 
 (i) a certified copy of the shareholder register of the Acquired Company showing that Seller owns all
of the issued shares of the Acquired Company; 
 (ii) a certificate executed by a duly-authorized Representative
of Seller representing and warranting to Buyers that Seller’s representations and warranties in this Agreement are accurate in all respects as of the date of this Agreement and are accurate in all respects as of the Closing Date as if made on
the Closing Date (giving full effect to any supplements to the Disclosure Letter that were delivered by Seller to Buyers prior to the Closing Date in accordance with Section 4.5); 

  
 -27-

 (iii) an executed Non-Competition Agreement; 

(iv) the written resignation (or documentation reasonably satisfactory to Buyers showing the removal) of any director of
the Acquired Company whom Seller and Buyers agree will no longer serve as a director after the Closing with each such resignation (or removal) effective no later than the Closing Date; 

(v) the minute books and stock record books of the Acquired Company in the possession of Seller and the Acquired Company
along with the corporate seal of the Acquired Company and the seals of the Representative Directors of the Acquired Company; 
 (vi) a legal opinion from The Haruki and Tokyo-Marunouchi Law Offices, legal counsel to Seller, as to the matters set forth in Exhibit B; and 

(vii) all other documents and items required by this Agreement to be delivered, or caused to be delivered, by Seller at
Closing. 
 8.2 Closing Deliveries by Buyers 
 At the Closing, Buyers shall deliver to Seller: 
 (i) payment of
the Purchase Price in accordance with Sections 1.2(b)(i) and (ii); 
 (ii) an executed Non-Competition Agreement;

 (iii) a certificate executed by duly authorized Representatives of each of the Buyers to the effect that,
except as otherwise stated in such certificate, each of Buyer’s representations and warranties in this Agreement was accurate in all respects as of the date of this Agreement and is accurate in all respects as of the Closing Date as if made on
the Closing Date; and 
 (iv) all other documents and items required by this Agreement to be delivered, or caused
to be delivered, by Buyers or at Closing. 
 ARTICLE 9 

TERMINATION 
 9.1 Termination Events 
 This Agreement may, by notice given prior to or at
the Closing, be terminated: 
 (a) by either Buyers or Seller if a material breach of any provision of this Agreement has been
committed by the other party and such breach has not been waived; 
 (b)(i) by Buyers if any of the conditions in ARTICLE 6 have
not been satisfied as of the Closing Date or if satisfaction of such a condition is or becomes impossible (other than through the failure of Buyers to comply with their obligations under this Agreement) and Buyers have not waived such condition on
or before the Closing Date; or (ii) by Seller, if any of the conditions in Article 7 has not been satisfied of the Closing Date or if satisfaction of 

  
 -28-

 
such a condition is or becomes impossible (other than through the failure of Seller to comply with its obligations under this Agreement) and Seller has not waived such condition on or before the
Closing Date; 
 (c) by written consent of Buyers and Seller; or 

(d) by either Buyers or Seller if the Closing has not occurred (other than through the failure of the party seeking to terminate this
Agreement to comply fully with its obligations under this Agreement) on or before December 31, 2010, or such later date as the parties may agree upon. 
 9.2 Effect of Termination 
 Each party’s right of termination under
Section 9.1 is in addition to any other rights it may have under this Agreement or otherwise, and the exercise of a right of termination will not be an election of remedies. If this Agreement is terminated pursuant to Section 9.1, all
further obligations of the parties under this Agreement will terminate, except that the obligations in Sections 12.1, 12.2 and 12.3 will survive; provided, however, that if this Agreement is terminated by Seller or Buyers party because of the breach
of the Agreement by the respective other party or because one or more of the conditions to the terminating party’s obligations under this Agreement is not satisfied as a result of the other party’s failure to comply with its obligations
under this Agreement, the terminating party’s right to pursue all legal remedies will survive such termination unimpaired. 

ARTICLE 10 

INDEMNIFICATION; REMEDIES 
 10.1 Survival; Right to Indemnification Not Affected by Knowledge 
 All
representations, warranties, covenants, and obligations in this Agreement, the Disclosure Letter, the supplements to the Disclosure Letter, the certificates delivered pursuant to this Agreement, and any other certificate or document delivered
pursuant to this Agreement will survive for a period of twenty-four (24) months following the Closing Date unless otherwise agreed in this Agreement. The right to indemnification, payment of Damages or other remedy based on such
representations, warranties, covenants, and obligations will not be affected by any investigation conducted with respect to, or any Knowledge acquired (or capable of being acquired) at any time, whether before or after the execution and delivery of
this Agreement or the Closing Date, with respect to the accuracy or inaccuracy of or compliance with, any such representation, warranty, covenant, or obligation. The waiver of any condition based on the accuracy of any representation or warranty, or
on the performance of or compliance with any covenant or obligation, will not affect the right to indemnification, payment of Damages, or other remedy based on such representations, warranties, covenants, and obligations. 

10.2 Indemnification and Payment of Damages by Seller 
 Subject to the limitations set forth herein, Seller will indemnify and hold harmless Buyers and the Acquired Company (collectively the “Indemnified Persons”) for, and will pay to the Indemnified
Persons the amount of, any loss, liability, claim, damage, expense (including costs of investigation and defense and reasonable attorneys’ fees) or diminution of 

  
 -29-

 
value, whether or not involving a third-party claim (collectively, “Damages”), arising, directly or indirectly, from or in connection with: 

(a) any breach of any representation or warranty made by Seller in this Agreement, the Disclosure Letter, the supplements to the
Disclosure Letter, or any other certificate or document delivered by Seller pursuant to this Agreement; and 
 (b) any breach by
Seller of any covenant or obligation of Seller in this Agreement; 
 The remedies provided in this Section 10.2 will not be
exclusive of or limit any other remedies that may be available to the Indemnified Persons. 
 10.3 Indemnification and
Payment of Damages by Buyers 
 Subject to the limitations set forth herein, Buyers will indemnify and hold harmless Seller,
and will pay to Seller the amount of any Damages arising, directly or indirectly, from or in connection with: 
 (a) any breach
of any representation or warranty made by Buyers in this Agreement or in any certificate delivered by Buyers pursuant to this Agreement; and 
 (b) any breach by Buyers of any covenant or obligation of Buyers in this Agreement. 
 The remedies provided in this Section 10.3 will not be exclusive of or limit any other remedies that may be available to Seller. 

10.4 Time Limitations 
 If the Closing occurs, Seller will have no liability (for indemnification or otherwise) with respect to any representation or warranty, or covenant or obligation to be performed and complied with prior to
the Closing Date, other than those in Sections 2.2, 2.3, and 2.11, unless on or before twenty-four (24) months from the Closing Date, Buyers notify Seller of a claim specifying the factual basis of that claim in reasonable detail to the extent
then known by Buyers; a claim with respect to Sections 2.2 and 2.3 may be made at any time after Closing and a claim in respect to Section 2.11 may be made within six (6) years from the Closing Date. If the Closing occurs, Buyers will have
no liability (for indemnification or otherwise) with respect to any representation or warranty, or covenant or obligation to be performed and complied with prior to the Closing Date, unless on or before twenty-four (24) months from the Closing
Date, Seller notify Buyers of a claim specifying the factual basis of that claim in reasonable detail to the extent then known by Seller. 
 10.5 Limitations on Amount—Seller 
 (a) Seller will have no liability
(for indemnification or otherwise) with respect to the matters described in clause (a), clause (b) of Section 10.2 until the total of all Damages with respect to such matters exceeds JP¥20,000,000 (Japanese Yen twenty million);
provided, however, that in the event total Damages claimed hereunder exceed such amount, then Buyers are entitled its seek their entire Damages from the first Yen thereof. Notwithstanding to the forgoing, the cumulative indemnification obligation of
Seller under this Agreement shall not exceed the Purchase Price in the aggregate. However, this Section 10.5 will not apply to any breach of any of Seller’s representations and warranties of which Seller had Knowledge at any time prior to
the date on which such representation and warranty is made 

  
 -30-

 
or any intentional breach by Seller of any covenant or obligation, and Seller will be liable for all Damages with respect to such breaches. 

(b) In addition to the limitation set forth in Section 10.5(a), Seller shall not be obliged to indemnify the Indemnified Persons
with respect to (i) any correctly and fully disclosed specific item in the Disclosure Letter, (ii) any covenant or condition waived by both of the Buyers on or prior to the Closing in writing, or (iii) any indirect, special,
incidental, consequential or punitive damages claimed by Buyer resulting from Seller’s breach of any representation or warranty, covenant or agreement. 
 10.6 Limitations on Amount—Buyers 
 Buyers will have no liability (for
indemnification or otherwise) with respect to the matters described in clause (a) or (b) of Section 10.3 until the total of all Damages with respect to such matters exceeds JP¥20,000,000 (Japanese Yen Twenty Million); provided,
however, that in the event total Damages claimed hereunder exceed such amount, Seller is entitled to seek its entire Damages from the first Yen thereof. However, this Section 10.6 will not apply to any breach of any of Buyers’
representations and warranties of which Buyers had Knowledge at any time prior to the date on which such representation and warranty is made or any intentional breach by Buyers of any covenant or obligation, and Buyers will be liable for all Damages
with respect to such breaches. 
 10.7 Right of Set-Off 

Upon notice to Seller specifying in reasonable detail the basis for such set-off, Buyers may (and may cause the Acquired Company to) set
off any amount to which it may be entitled under this Section 10 against amounts otherwise payable to Seller by Buyers or the Acquired Company, as the case may be. The exercise of such right of set-off by Buyers in good faith, whether or not
ultimately determined to be justified, will not constitute an event of default under any Contract. Neither the exercise of nor the failure to exercise such right of set-off will constitute an election of remedies or limit Buyers in any manner in the
enforcement of any other remedies that may be available to it. 
 10.8 Procedure for Indemnification—Third Party
Claims 
 (a) Promptly after receipt by an indemnified party under Section 10.2 or 10.3 of notice of the commencement of
any Proceeding against it, such indemnified party will, if a claim is to be made against an indemnifying party under such Section, give notice to the indemnifying party of the commencement of such claim, but the failure to notify the indemnifying
party will not relieve the indemnifying party of any liability that it may have to any indemnified party, except to the extent that the indemnifying party demonstrates that the defense of such action is prejudiced by the indemnifying party’s
failure to give such notice. 
 (b) If any Proceeding referred to in Section 10.8(a) is brought against an indemnified
party and it gives notice to the indemnifying party of the commencement of such Proceeding, the indemnifying party will, unless the claim involves Taxes, be entitled to participate in such Proceeding and, to the extent that it wishes (unless
(i) the indemnifying party is also a party to such Proceeding and the indemnified party determines in good faith that joint representation would be inappropriate, or (ii) the indemnifying party fails to provide reasonable assurance to the
indemnified party of its financial capacity to defend such Proceeding and provide indemnification with respect to such Proceeding), assume the defense 

  
 -31-

 
of such Proceeding with counsel satisfactory to the indemnified party and, after notice from the indemnifying party to the indemnified party of its election to assume the defense of such
Proceeding, the indemnifying party will not, as long as it diligently conducts such defense, be liable to the indemnified party under this Section 10 for any fees of other counsel or any other expenses with respect to the defense of such
Proceeding, in each case subsequently incurred by the indemnified party in connection with the defense of such Proceeding, other than reasonable costs of investigation. If the indemnifying party assumes the defense of a Proceeding, (i) it will
be conclusively established for purposes of this Agreement that the claims made in that Proceeding are within the scope of and subject to indemnification; (ii) no compromise or settlement of such claims may be effected by the indemnifying party
without the indemnified party’s consent unless (A) there is no finding or admission of any violation of Legal Requirements or any violation of the rights of any Person and no effect on any other claims that may be made against the
indemnified party, and (B) the sole relief provided is monetary damages that are paid in full by the indemnifying party; and (iii) the indemnified party will have no liability with respect to any compromise or settlement of such claims
effected without its consent. If notice is given to an indemnifying party of the commencement of any Proceeding and the indemnifying party does not, within thirty days after the indemnified party’s notice is given, give notice to the
indemnified party of its election to assume the defense of such Proceeding, the indemnifying party will be bound by any determination made in such Proceeding or any compromise or settlement effected by the indemnified party. 

10.9 Procedure for Indemnification—Other Claims 
 A claim for indemnification for any matter not involving a third-party claim may be asserted by notice to the party from whom indemnification is sought. 

10.10 Reduction for Insurance, Taxes and Other Offsets 
 (a) The obligations of each indemnifying party hereunder regarding any Damages will be reduced, including retroactively, by the amount of any insurance proceeds, recognized benefit regarding Taxes (a
“Tax Benefit”) or other amount or benefit recoverable using commercially reasonable efforts by the indemnified party regarding such Damages. If (i) the indemnified party receives from or on behalf of an indemnifying party, or an
indemnifying party pays on behalf of the indemnified party, a payment regarding Damages, and (ii) the indemnified party subsequently recovers insurance proceeds, Tax Benefits or any other amount or benefit regarding such Damages, then such
indemnified party will promptly pay to the indemnifying party the amount of such insurance proceeds, Tax Benefit or other amount or benefit, or, if less, the amount of such payment. The amount of such insurance proceeds, Tax Benefit or other amount
or benefit so recoverable will be net of any costs and expenses incurred by the indemnified party in procuring the same, including all reasonable out-of-pocket expenses incurred in obtaining such recovery and net of any increase in the relevant
insurance premium directly attributable to such recovery. 
 (b) Each party hereby waives to the extent permitted under its (and
their) insurance policies, any subrogation rights that its (or their) insurer may have against such indemnifying party with respect to any such Damages. 

  
 -32-

 10.11 Indemnification Adjusts Purchase Price for Tax Purposes 

Each party will, including retroactively, treat indemnification payments under this Agreement as adjustments to the Purchase Price for Tax
purposes, except to the extent such treatment is not permitted by applicable law. 
 ARTICLE 11 

POST-CLOSING COVENANTS 
 11.1 Compliance with Agreements 
 From and after the Closing, Buyers will
use commercially reasonably efforts to cause the Acquired Company to continue to perform and comply with all provisions of all (i) Contracts of the Acquired Company or (ii) Contracts under which the Acquired Company may have rights, under
which, with respect to each of (i) and (ii), Seller or any of its Affiliates (other than the Acquired Company) may have direct or contingent obligations. 
 11.2 Name Change 
 Upon completion of Closing, Buyers will amend the
Articles of Incorporation (Teikan) of the Acquired Company to change the name of the Acquired Company to a name that does not include any Restricted Word. The Buyers will file the requisite company name change documents with the applicable
Governmental Authorities on the Closing Date, if possible, and, if not, within one (1) Business Day thereafter. Buyers will promptly provide to Seller true, correct and complete copies of the documents filed with the applicable Governmental
Authorities to legally accomplish that name change; and Buyers shall discontinue (and cause its Affiliates to discontinue) all uses of any Restricted Word in connection with the operation of the business of the Acquired Company after the Closing
Date. “Restricted Word” means any of the following: (i) the word “Marubeni” and designs and logos related thereto; (ii) any word, design or logo that is (1) a variation of, or (2) confusingly similar to, any
item contained in clause (i); or (ii) any word, design or logo that could reasonably be expected to imply any affiliation with Seller or any of its Affiliates; provided, however, the Acquired Company may continue to use Restricted
Word for back office purpose only and the term “formerly known as Marubeni Infotec” in connection with the Business of the Acquired Company. 
 11.3 Employee Retention 
 Buyers shall cause the Acquired Company to use its
commercially reasonable efforts to retain all its existing employees under their present conditions of employment at least until December 31, 2010. Notwithstanding the foregoing, Buyers reserve the right to cause the Acquired Company to provide
for the return of any executive level employees originally sent from Seller to the Acquired Company, back to Seller at any time; and Seller agrees to accept such returnees. In the event such employees are unable to be returned to Seller for reasons
beyond Seller’s control, then Seller shall reimburse the Acquired Company for its severance costs associated with its termination of such executive employees. 

  
 -33-

 11.4 Other Business Matters 

(a) Seller will transfer its business and operation with Asustek Computer, Adobe and Microsoft to the Acquired Company on or before
March 31, 2011; provided, however that Seller will retain some of its non-distribution channel, Subsidiary only business with Asustek Computer. The parties also agree to use commercially reasonable efforts to transfer Seller’s business and
operation with Sios, Filemaker, TPV, Sigma Tech, Too, Internet Telephone, Meta Creation and Map Net on or before March 31, 2011. 
 (b) Seller shall assist the Acquired Company with respect to any reasonable request relating to pre-Closing tax filings, backup, and related documentation and information for period of seven
(7) years after the Closing. 
 (c) Seller shall provide such other assistance related to the Acquired Company’s
Business as reasonably requested by the Acquired Company for period one (1) year after the Closing. 
 (d) With respect to
the above references clause (a) through (c), the Acquired Company shall reimburse Seller for the reasonable cost related to such services. 
 ARTICLE 12 
 GENERAL PROVISIONS 

12.1 Expenses 
 Except as otherwise expressly provided in this Agreement, each party to this Agreement and the Acquired Company will bear their respective expenses incurred in connection with the preparation, execution,
and performance of this Agreement and the Contemplated Transactions, including all fees and expenses of agents, representatives, counsel, and accountants. In the event of termination of this Agreement, the obligation of each party and the Acquired
Company to pay their own expenses will be subject to any rights of such party arising from a breach of this Agreement by another party. 
 12.2 Public Announcements 
 Any public announcement or similar publicity
with respect to this Agreement or the Contemplated Transactions will be issued, if at all, at such time and in such manner as Seller and Buyers determine. Unless consented to by Buyers in advance or required by Legal Requirements, prior to the
Closing, Seller shall, and shall cause the Acquired Company to, keep this Agreement strictly confidential and may not make any disclosure of this Agreement to any Person. Seller and Buyers will consult with each other concerning the means by which
the Acquired Company’s employees, customers, and suppliers and others having dealings with the Acquired Company will be informed of the Contemplated Transactions, and Buyers will have the right to be present for any such communication.

 12.3 Confidentiality 
 Between the date of this Agreement and the Closing Date, Buyers and Seller will maintain in confidence, and will cause the directors, officers, employees, agents, and advisors of Buyers and the Acquired
Company to maintain in confidence, and not use to the detriment 

  
 -34-

 
of another party or an Acquired Company any written, oral, or other information obtained in confidence from another party or an Acquired Company in connection with this Agreement or the
Contemplated Transactions, unless (a) such information is already known to such party or to others not bound by a duty of confidentiality or such information becomes publicly available through no fault of such party, (b) the use of such
information is necessary or appropriate in making any filing or obtaining any consent or approval required for the consummation of the Contemplated Transactions, or (c) the furnishing or use of such information is required by or necessary or
appropriate in connection with legal proceedings. 
 If the Contemplated Transactions are not consummated, each party will
return or destroy as much of such written information as the other party may reasonably request. 
 12.4 Notices

 All notices or other communications required or permitted to be given hereunder will be in writing and will be
(a) delivered by hand, (b) sent by certified mail return receipt, (c) sent by internationally recognized overnight delivery service or (d) sent by confirmed electronic transmission. Such notices or communications will be deemed
given (i) if delivered by hand, when so delivered, (ii) if sent by mail, the Business Day that written certification of receipt from the relevant postal service is received by the sending party of such notice, (iii) if sent by
internationally recognized overnight courier service, the Business Day upon which written proof of delivery from such service is made available to or received by the sending party of such notice, or (iv) if sent by confirmed electronic
transmission, when sent by the sending party, in each case as stated below in this Section. A party may change the address to which such notices and other communications are to be given by giving the other parties notice in such manner. 

 

	
	Seller:
	Marubeni Corporation
	Address: 1-4-2, Ohtemachi, Chiyoda-ku, Tokyo, Japan 100-8088
	Attention: Ryoichi Watanabe
	Facsimile No.: 81-3-3282-4264
	
	with a copy to:
	Attention: Kenji Funaki
	Facsimile No.: 81-3-3282-4264
	
	Buyers:
	SYNNEX Investment Holdings Corporation
	Address: 44201 Nobel Drive, Fremont, California 94538
	Attention: Kevin Murai
	Facsimile No.: (510) 360-6800
	
	and
	
	SB Pacific Corporation Limited
	Address: Unit 1628 16/F, Man Yee Bldg., 60-68 Des Voeux Rd,
	               Central, Hong Kong
	Attention: Robert Huang, Chairman
	                 Hirobumi Suzuki, Director

  
 -35-

	
	Facsimile No.: (510) 668-3019
	
	with a copies to:
	SYNNEX Corporation
	Address:   44201 Nobel Drive, Fremont, California 94538
	Attention: Kevin Murai, President & CEO
	                 Simon Y. Leung, Senior Vice President & General
Counsel
	Facsimile No.: (510) 668-3707
	
	and
	
	Pillsbury Winthrop Shaw Pittman LLP
	Address:  Fuerte Kojimachi Bldg. 5F, 1-7-25, Kojimachi, Chiyoda-ku
	                Tokyo, Japan 102-0083
	Attention: William R. Huss, Esq.
	Facsimile No.: 81-3-5226-7261

 12.5
Jurisdiction; Service of Process 
 Any action or proceeding seeking to enforce any provision of, or based on any right
arising out of, this Agreement may be brought against any of the parties in the courts of Japan, and each of the parties consents to the jurisdiction of such courts (and of the appropriate appellate courts) in any such action or proceeding and
waives any objection to venue laid therein. Process in any action or proceeding referred to in the preceding sentence may be served on any party anywhere in the world. 
 12.6 Further Assurances 
 The parties agree (a) to furnish upon request
to each other such further information, (b) to execute and deliver to each other such other documents, and (c) to do such other acts and things, all as the other party may reasonably request for the purpose of carrying out the intent of
this Agreement and the documents referred to in this Agreement. 
 12.7 Waiver 

The rights and remedies of the parties to this Agreement are cumulative and not alternative. Neither the failure nor any delay by any
party in exercising any right, power, or privilege under this Agreement or the documents referred to in this Agreement will operate as a waiver of such right, power, or privilege, and no single or partial exercise of any such right, power, or
privilege will preclude any other or further exercise of such right, power, or privilege or the exercise of any other right, power, or privilege. To the maximum extent permitted by applicable law, (a) no claim or right arising out of this
Agreement or the documents referred to in this Agreement can be discharged by one party, in whole or in part, by a waiver or renunciation of the claim or right unless in writing signed by another party; (b) no waiver that may be given by a
party will be applicable except in the specific instance for which it is given; and (c) no notice to or demand on one party will be deemed to be a waiver of any obligation of such party or of the right of the party giving such notice or demand
to take further action without notice or demand as provided in this Agreement or the documents referred to in this Agreement. 

  
 -36-

 12.8 Entire Agreement and Modification 

This Agreement supersedes all prior agreements between the parties with respect to its subject matter (including the Letter of Intent
between Buyers and Seller dated August 6, 2010, and constitutes (along with the documents referred to in this Agreement) a complete and exclusive statement of the terms of the agreement between the parties with respect to its subject matter.
This Agreement may not be amended except by a written agreement executed by all of the parties hereto. 
 12.9 Disclosure
Letter 
 (a) The disclosures in the Disclosure Letter, and those in any supplement thereto, must relate only to the
representations and warranties in the Section of the Agreement to which they expressly relate and not to any other representation or warranty in this Agreement. 
 In the event of any inconsistency between the statements in the body of this Agreement and those in the Disclosure Letter (other than an exception expressly set forth as such in the Disclosure Letter with
respect to a specifically identified representation or warranty), the statements in the body of this Agreement will control. 

12.10 Assignments, Successors, and No Third-Party Rights 
 No party may assign any of its rights under this Agreement without the prior consent of the other parties except that each of the Buyers may assign any of its rights under this Agreement to a Subsidiary
of the respective Buyer. Subject to the preceding sentence, this Agreement will apply to, be binding in all respects upon, and inure to the benefit of the successors and permitted assigns of the parties. Nothing expressed or referred to in this
Agreement will be construed to give any Person other than the parties to this Agreement any legal or equitable right, remedy, or claim under or with respect to this Agreement or any provision of this Agreement. This Agreement and all of its
provisions and conditions are for the sole and exclusive benefit of the parties to this Agreement and their successors and assigns. 
 12.11 Severability 
 If any provision of this Agreement is held invalid or
unenforceable by any court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and
effect to the extent not held invalid or unenforceable. 
 12.12 Section Headings, Construction 

The headings of Sections in this Agreement are provided for convenience only and will not affect its construction or interpretation. All
references to “Section” or “Sections” refer to the corresponding Section or Sections of this Agreement. All words used in this Agreement will be construed to be of such gender or number as the circumstances require. Unless
otherwise expressly provided, the word “including” does not limit the preceding words or terms. 

  
 -37-

 12.13 Time of Essence 

With regard to all dates and time periods set forth or referred to in this Agreement, time is of the essence. 

12.14 Governing Law 
 This Agreement will be governed by the laws of Japan without regard to conflicts of laws principles. 
 12.15 Counterparts 
 This Agreement may be executed in one or more
counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. 

ARTICLE 13 

DEFINITIONS 
 For purposes of this Agreement, the following terms have the meanings specified or referred to in this Article 12: 
 “Accounting Arbitrator”—means KPMG Japan or other agreed upon certified public accountant agreed to in writing by Seller and Buyers. 

“Acquired Company”—as defined in the Recitals of this Agreement. 
 “Acquired Company’s Businesses”—means the businesses of the Acquired Company as being conducted on the date of this Agreement and as of the Closing Date. 

“Adjustment Amount”—as defined in Section 1.4. 
 “Ancillary Documents”—mean, with respect to a Person, any document executed and delivered by such Person pursuant to the terms of this Agreement (but not including this Agreement).

 “Applicable Contract”—any Contract (a) under which the Acquired Company has or may acquire any rights, (b) under
which the Acquired Company has or may become subject to any obligation or liability, or (c) by which the Acquired Company or any of the assets owned or used by it is or may become bound, which in each case involves a matter valued in excess of
JP¥5,000,000. 
 “Benefit Plan”—as defined in Section 2.13. 
 “Buyers”—as defined in the first paragraph of this Agreement. 
 “Business
Day”—means any day other than a Saturday, Sunday or a day that banks in Japan are not generally authorized or required by applicable law to be closed. 
 “Closing”—as defined in Section 1.3. 

  
 -38-

 “Closing Date”—the date and time as of which the Closing actually takes place. 

“Consent”—any approval, consent, ratification, waiver, or other authorization (including any Governmental Authorization). 

“Contemplated Transactions”—all of the transactions contemplated by this Agreement, including: 

(a) the sale of the Shares by Seller to Buyers; 
 (b) the performance by Buyers and Seller of their respective covenants and obligations under this Agreement; 
 (c) Buyers’ acquisition and ownership of the Shares and exercise of control over the Acquired Company; and 
 (d) the execution, delivery and performance of the Non-Competition Agreement. 

“Contract”—any agreement, contract, obligation, promise, or undertaking (whether written or oral and whether express or implied) that is
legally binding. 
 “Damages”—as defined in Section 10.2. 
 “Disclosure Letter”—the disclosure letter delivered by Seller to Buyers concurrently with the execution and delivery of this Agreement. 

“Encumbrance”—any charge, claim, community property interest, condition, equitable interest, lien, option, pledge, security interest,
right of first refusal, or restriction of any kind, including any restriction on use, voting, transfer, receipt of income, or exercise of any other attribute of ownership. 
 “Environment”—soil, land surface or subsurface strata, surface waters (including navigable waters, ocean waters, streams, ponds, drainage basins, and wetlands), groundwaters, drinking water
supply, stream sediments, ambient air (including indoor air), plant and animal life, and any other environmental medium or natural resource. 

“Environmental, Health, and Safety Liabilities”—any cost, damages, expense, liability, obligation, or other responsibility arising from or
under Environmental Law or Occupational Safety and Health Law. 
 “Environmental Law”—any Legal Requirement applicable to the
Acquired Company that requires or relates to: 
 (a) advising appropriate authorities, employees, and the public
of intended or actual releases of pollutants or hazardous substances or materials, violations of discharge limits, or other prohibitions and of the commencements of activities, such as resource extraction or construction, that could have significant
impact on the Environment; 
 (b) preventing or reducing to acceptable levels the release of pollutants or
hazardous substances or materials into the Environment; 

  
 -39-

 (c) cleaning up pollutants that have been released, preventing the threat of
release, or paying the costs of such clean up or prevention. 
 “Facilities”—any real property, leaseholds, or other interests
currently or formerly owned or operated by the Acquired Company and any buildings, plants, structures, or equipment (including motor vehicles, tank cars, and rolling stock) currently or formerly owned or operated by the Acquired Company, in each
such case during the period in which Seller owned the Acquired Company. 
 “Governmental Authorization”—any approval, consent,
license, permit, waiver, or other authorization issued, granted, given, or otherwise made available by or under the authority of any Governmental Body or pursuant to any Legal Requirement. 
 “Governmental Body”—any governmental or quasi-governmental authority of any nature (including any governmental agency, branch, department, official, or entity and any court or other
tribunal). 
 “Hazardous Activity”—the distribution, generation, handling, importing, management, manufacturing, processing,
production, refinement, Release, storage, transfer, transportation, treatment, or use (including any withdrawal or other use of groundwater) of Hazardous Materials in, on, under, about, or from the Facilities or any part thereof into the
Environment, and any other act, business, operation, or thing that increases the danger, or risk of danger, or poses an unreasonable risk of harm to persons or property on or off the Facilities, or that may affect the value of the Facilities or the
Acquired Company. 
 “Hazardous Materials”—any waste or other substance that is listed, defined, designated, or classified as, or
otherwise determined to be, hazardous, radioactive, or toxic or a pollutant or a contaminant under or pursuant to any Environmental Law, including any admixture or solution thereof, and specifically including petroleum and all derivatives thereof or
synthetic substitutes therefor and asbestos or asbestos-containing materials. 
 “Indemnified Persons”—as defined in
Section 10.2. 
 “Intellectual Property Assets”—as defined in Section 2.22. 

“Japanese GAAP”—generally accepted Japanese accounting principles, applied on a basis consistent with the basis on which the financial
statements referred to in Section 2.4 were prepared. 
 “Knowledge”—an individual will be deemed to have
“Knowledge” of a particular fact or other matter if: 
 (a) such individual is actually aware of such
fact or other matter; or 
 (b) a prudent individual could be expected to discover or otherwise become aware of
such fact or other matter in the course of conducting a reasonably comprehensive investigation concerning the existence of such fact or other matter. 
 A Person (other than an individual) will be deemed to have “Knowledge” of a particular fact or other matter if any individual who is serving, or who has at any time served,

  
 -40-

 
as a director, officer, partner, executor, or trustee of such Person (or in any similar capacity) has, or at any time had, Knowledge of such fact or other matter. 

“Legal Requirement”—any federal, state, local, municipal, foreign, international, multinational, or other administrative order,
constitution, law, ordinance, principle of common law, regulation, statute, or treaty. 
 “MF Credit Facility”—as defined in
Section 2.10(b). 
 “MF Credit Obligation”—as defined in Section 2.10(b). 

“Non-Competition Agreement”—the agreement as set forth in Exhibit A, being entered into by Seller, Buyers and the Acquired Company.

 “Occupational Safety and Health Law”—any Legal Requirement designed to provide safe and healthful working conditions and to
reduce occupational safety and health hazards, and any program, whether governmental or private (including those promulgated or sponsored by industry associations and insurance companies), designed to provide safe and healthful working conditions.

 “Order”—any award, decision, injunction, judgment, order, ruling, subpoena, or verdict entered, issued, made, or rendered by
any court, administrative agency, or other Governmental Body or by any arbitrator. 
 “Ordinary Course of Business”—an action
taken by a Person will be deemed to have been taken in the “Ordinary Course of Business” only if: 

(a) such action is consistent with the past practices of such Person and is taken in the ordinary course of the normal
day-to-day operations of such Person; 
 (b) such action is not required to be authorized by the board of
directors of such Person (or by any Person or group of Persons exercising similar authority) and is not required to be specifically authorized by the parent company (if any) of such Person; and 

(c) such action is similar in nature and magnitude to actions customarily taken, without any authorization by the board of
directors (or by any Person or group of Persons exercising similar authority), in the ordinary course of the normal day-to-day operations of other Persons that are in the same line of business as such Person. 

“Organizational Documents”—the current complete articles or certificate of incorporation and the bylaws of the Acquired Company.

 “Person”—any individual, corporation (including any non-profit corporation), general or limited partnership, limited liability
company, joint venture, estate, trust, association, organization, labor union, or other entity or Governmental Body. 

“Proceeding”—any action, arbitration, audit, hearing, investigation, litigation, or suit (whether civil, criminal, administrative,
investigative, or informal) commenced, brought, conducted, or heard by or before, or otherwise involving, any Governmental Body or arbitrator. 

  
 -41-

 “Purchase Price”—as defined in Section 1.2. 

“Related Person”—with respect to a particular individual: 

(a) each other member of such individual’s family; 

(b) any Person that is directly or indirectly controlled by such individual or one or more members of such
individual’s family; 
 (c) any Person in which such individual or members of such individual’s family
hold (individually or in the aggregate) a material interest; and 
 (d) any Person with respect to which such
individual or one or more members of such individual’s family serves as a director, officer, partner, executor, or trustee (or in a similar capacity). 
 With respect to a specified Person other than an individual: 
 (a)
any Person that directly or indirectly controls, is directly or indirectly controlled by, or is directly or indirectly under common control with such specified Person; 

(b) any Person that holds a material interest in such specified Person; 

(c) each Person that serves as a director, officer, partner, executor, or trustee of such specified Person (or in a
similar capacity); 
 (d) any Person in which such specified Person holds a material interest; 

(e) any Person with respect to which such specified Person serves as a general partner or a trustee (or in a similar
capacity); and 
 (f) any Related Person of any individual described in clause (b) or (c). 

“Release”—any spilling, leaking, emitting, discharging, depositing, escaping, leaching, dumping, or other releasing into the Environment,
whether intentional or unintentional. 
 “Representative”—with respect to a particular Person, any director, officer, employee,
agent, consultant, advisor, or other representative of such Person, including legal counsel, accountants, and financial advisors. 

“Seller”—as defined in the first paragraph of this Agreement. 
 “Shares”—as defined in the Recitals of this Agreement. 

“Subsidiary”—with respect to the Acquired Company, any corporation or other Person of which securities or other interests having the power
to elect a majority of that corporation’s or other Person’s board of directors or similar governing body, or otherwise having the power to direct the business and policies of that corporation or other Person. 

  
 -42-

 “Tax”—any tax (including any income tax, capital gains tax, value-added tax, sales tax,
property tax, gift tax, or estate or inheritance tax), levy, assessment, tariff, duty (including any customs duty), deficiency, or other fee, and any related charge or amount (including any fine, penalty, interest, or addition to tax), imposed,
assessed, or collected by or under the authority of any Governmental Body or payable pursuant to any tax-sharing agreement or any other Contract relating to the sharing or payment of any such tax, levy, assessment, tariff, duty, deficiency, or fee.

 “Tax Return”—any return (including any information return), report, statement, schedule, notice, form, or other document or
information filed with or submitted to, or required to be filed with or submitted to, any Governmental Body in connection with the determination, assessment, collection, or payment of any Tax or in connection with the administration, implementation,
or enforcement of or compliance with any Legal Requirement relating to any Tax. 
 “Threat of Release”—a substantial likelihood
of a Release that may require action in order to prevent or mitigate damage to the Environment that may result from such Release. 

“Threatened”—a claim, Proceeding, dispute, action, or other matter will be deemed to have been “Threatened” if any demand or
statement has been made (orally or in writing) or any notice has been given (orally or in writing), or if any other event has occurred or any other circumstances exist, that would lead a prudent Person to conclude that such a claim, Proceeding,
dispute, action, or other matter is likely to be asserted, commenced, taken, or otherwise pursued in the future. 

[intentionally left blank] 

  
 -43-

 [intentionally left blank] 

  
 -44-

 [intentionally left blank] 

  
 -45-

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

					
	 BUYERS:
  
 SYNNEX INVESTMENT HOLDINGS CORPORATION
	 		 	 SELLER:
  
 MARUBENI CORPORATION

			
	 /s/ Simon Y. Leung
	 		 	 /s/ Ryoichi Watanabe

	 Name: Simon Y. Leung
 Title:
SVP, Corporate Secretary and General Counsel
	 		 	 Name: Ryoichi Watanabe

Title: General Manager, IT Solution Business Dept.

			
	SB PACIFIC CORPORATION LIMITED	 		 	
			
	 /s/ Robert T. Huang
	 		 	
	 Name: Robert T. Huang
 Title:
Chairman
	 		 	

  
 -46-2011 Amended and Restated Equity Incentive Plan

 Exhibit 10.2 
 AMBIT BIOSCIENCES CORPORATION 

AMENDED AND RESTATED 2011 EQUITY INCENTIVE
PLAN 
 Adopted January 24, 2001 

Approved By Stockholders February 21, 2001 
 As Amended by the Board of Directors on June 6, 2001 
 Amendment
approved by the Stockholders 
 As Amended by the Board of Directors on October 31, 2001 

Amendment approved by the Stockholders 
 As Amended by the Board of Directors on August 12, 2004 
 Amendment
approved by the Stockholders 
 As Amended by the Board of Directors on March 10, 2005 

Amendment approved by the Stockholders 
 As Amended by the Board of Directors on January 31, 2006 
 Amendment
approved by the Stockholders 
 As Amended by the Board of Directors on October 24, 2007 

Amendment approved by the Stockholders 
 As Amended by the Board of Directors on November 5 and 6, 2008 

Amendment approved by the Stockholders 
 As Amended by the Board of Directors on August 19, 2010 
 Amendment
approved by the Stockholders 
 As Amended and Restated by the Board of Directors on January 25, 2011 

Amendment and Restatement approved by the Stockholders 
 Termination Date: January 24, 2021 
  

	1.	PURPOSES. 

(a) Eligible Stock Award Recipients. The persons eligible to receive Stock Awards are the Employees, Directors and
Consultants of the Company and its Affiliates. 
 (b) Available Stock Awards. The purpose of the Plan is to
provide a means by which eligible recipients of Stock Awards may be given an opportunity to benefit from increases in value of the Common Stock through the granting of the following Stock Awards: (i) Incentive Stock Options,
(ii) Nonstatutory Stock Options, (iii) stock bonuses and (iv) rights to acquire restricted stock. 
 (c)
General Purpose. The Company, by means of the Plan, seeks to retain the services of the group of persons eligible to receive Stock Awards, to secure and retain the services of new members of this group and to provide incentives for such
persons to exert maximum efforts for the success of the Company and its Affiliates. 

  
 1 

	2.	DEFINITIONS. 

 (a) “Affiliate” means any parent corporation or subsidiary corporation of the Company, whether now or hereafter existing, as those terms are defined in Sections 424(e) and
(f), respectively, of the Code. 
 (b) “Board” means the Board of Directors of the Company.

 (c) “Cause” means, with respect to a Participant, the occurrence of any of the following:
(i) such Participant’s conviction of any felony or any crime involving fraud or dishonesty that has a material adverse effect on the Company; (ii) such Participant’s participation (whether by affirmative act or omission) in a
fraud, act of dishonesty or other act of misconduct against the Company and/or its Affiliates; (iii) conduct by such Participant which, based upon a good faith and reasonable factual investigation by the Company (or, if such Participant is an
Officer, by the Board), demonstrates such Participant’s gross unfitness to serve; (iv) such Participant’s violation of any statutory or fiduciary duty, or duty of loyalty, owed to the Company and/or its Affiliates; (v) such
Participant’s breach of any material term of any material contract between such Participant and the Company and/or its Affiliates; and (vi) such Participant’s repeated violation of any material Company policy. An occurrence of
“cause” as set forth in the preceding sentence shall be based upon a good faith determination by the Company (or, if such Participant is an Officer, by the Board). Notwithstanding the foregoing, such Participant’s Disability shall not
constitute Cause as set forth herein. The determination that a termination is for Cause shall be by the Committee in its sole and exclusive judgment and discretion. 
 (d) “Code” means the Internal Revenue Code of 1986, as amended. 
 (e) “Committee” means a committee of one or more members of the Board appointed by the Board in accordance with subsection 3(c). 

(f) “Common Stock” means the common stock of the Company. 

(g) “Company” means Ambit Biosciences Corporation, a Delaware corporation. 

(h) “Consultant” means any person, including an advisor, (i) engaged by the Company or an Affiliate
to render consulting or advisory services and who is compensated for such services or (ii) who is a member of the Board of Directors of an Affiliate. However, the term “Consultant” shall not include Directors who are not compensated
by the Company for their services as Directors, nor shall the payment of a director’s fee by the Company for services as a Director cause a Director to be deemed a Consultant for the purposes of this Plan. 

(i) “Continuous Service” means that the Participant’s service with the Company or an Affiliate,
whether as an Employee, Director or Consultant, is not interrupted or terminated. Neither a change in the capacity in which such Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director, nor a change in the
entity for which the Participant renders such service, shall be deemed to interrupt or terminate such Participant’s 

  
 2 

 
Continuous Service provided that there is no interruption or termination of the Participant’s Continuous Service. For example, a change in status from an Employee of the Company to a
Consultant of an Affiliate or a Director will not constitute an interruption of Continuous Service. The Board or the chief executive officer of the Company, in that party’s sole discretion, may determine whether Continuous Service shall be
considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal leave. 
 (j) “Covered Employee” means the chief executive officer and the four (4) other highest compensated officers of the Company for whom total compensation is required to
be reported to stockholders under the Exchange Act, as determined for purposes of Section 162(m) of the Code. 
 (k)
“Director” means a member of the Board of Directors of the Company. 
 (l)
“Disability” means (i) before the Listing Date, the inability of a person, in the opinion of a qualified physician acceptable to the Company, to perform the major duties of that person’s position with the Company or
an Affiliate of the Company because of the sickness or injury of the person and (ii) after the Listing Date, the permanent and total disability of a person within the meaning of Section 22(e)(3) of the Code. 

(m) “Employee” means any person employed by the Company or an Affiliate. Service as a Director or payment
of a director’s fee by the Company or an Affiliate shall not be sufficient to constitute “employment” by the Company or an Affiliate. 
 (n) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (o) “Fair Market Value” means, as of any date, the value of the Common Stock determined as follows: 

(i) If the Common Stock is listed on any established stock exchange or traded on the Nasdaq National Market or the
Nasdaq SmallCap Market, the Fair Market Value of a share of Common Stock shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or market (or the exchange or market with the
greatest volume of trading in the Common Stock) on the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Board deems reliable. 

(ii) In the absence of such markets for the Common Stock, the Fair Market Value shall be determined in good faith
by the Board. 
 (iii) Prior to the Listing Date, the value of the Common Stock shall be determined by the
Board in compliance with Section 409A of the Code or, in the case of an Incentive Stock Option, in compliance with Section 422 of the Code. 

  
 3 

 (p) “Incentive Stock Option” means an Option intended to
qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 
 (q) “Listing Date” means the first date upon which any security of the Company is listed (or approved for listing) upon notice of issuance on any securities exchange or
designated (or approved for designation) upon notice of issuance as a national market security on an interdealer quotation system if such securities exchange or interdealer quotation system has been certified in accordance with the provisions of
Section 25100(o) of the California Corporate Securities Law of 1968. 
 (r) “Non-Employee Director”
means a Director who either (i) is not a current Employee or Officer of the Company or its parent or a subsidiary, does not receive compensation (directly or indirectly) from the Company or its parent or a subsidiary for services
rendered as a consultant or in any capacity other than as a Director (except for an amount as to which disclosure would not be required under Item 404(a) of Regulation S-K promulgated pursuant to the Securities Act (“Regulation
S-K”)), does not possess an interest in any other transaction as to which disclosure would be required under Item 404(a) of Regulation S-K and is not engaged in a business relationship as to which disclosure would be required under
Item 404(b) of Regulation S-K; or (ii) is otherwise considered a “non-employee director” for purposes of Rule 16b-3. 
 (s) “Nonstatutory Stock Option” means an Option not intended to qualify as an Incentive Stock Option. 

(t) “Officer” means (i) before the Listing Date, any person designated by the Company as an officer
and (ii) on and after the Listing Date, a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 

(u) “Option” means an Incentive Stock Option or a Nonstatutory Stock Option granted pursuant to the Plan.

 (v) “Option Agreement” means a written agreement between the Company and an Optionholder
evidencing the terms and conditions of an individual Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan. 
 (w) “Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option. 

(x) “Outside Director” means a Director who either (i) is not a current employee of the Company or an
“affiliated corporation” (within the meaning of Treasury Regulations promulgated under Section 162(m) of the Code), is not a former employee of the Company or an “affiliated corporation” receiving compensation for prior
services (other than benefits under a tax qualified pension plan), was not an officer of the Company or an “affiliated corporation” at any time and is not currently receiving direct or indirect remuneration from the Company or an

  
 4 

 
“affiliated corporation” for services in any capacity other than as a Director or (ii) is otherwise considered an “outside director” for purposes of Section 162(m)
of the Code. 
 (y) “Participant” means a person to whom a Stock Award is granted pursuant to the
Plan or, if applicable, such other person who holds an outstanding Stock Award. 
 (z) “Plan”
means this Ambit Biosciences Corporation Amended and Restated 2011 Equity Incentive Plan. 
 (aa) “Rule
16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from time to time. 
 (bb) “Securities Act” means the Securities Act of 1933, as amended. 
 (cc) “Stock Award” means any right granted under the Plan, including an Option, a stock bonus and a right to acquire restricted stock. 

(dd) “Stock Award Agreement” means a written agreement between the Company and a holder of a Stock Award
evidencing the terms and conditions of an individual Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions of the Plan. 
 (ee) “Ten Percent Stockholder” means a person who owns (or is deemed to own pursuant to Section 424(d) of the Code) stock possessing more than ten percent (10%) of
the total combined voting power of all classes of stock of the Company or of any of its Affiliates. 
  

	3.	ADMINISTRATION. 

 (a) Administration by Board. The Board shall administer the Plan unless and until the Board delegates administration to a Committee, as provided in subsection 3(c). 

(b) Powers of Board. The Board shall have the power, subject to, and within the limitations of, the express provisions of
the Plan: 
 (i) To determine from time to time which of the persons eligible under the Plan shall be
granted Stock Awards; when and how each Stock Award shall be granted; what type or combination of types of Stock Award shall be granted; the provisions of each Stock Award granted (which need not be identical), including the time or times when a
person shall be permitted to receive Common Stock pursuant to a Stock Award; and the number of shares of Common Stock with respect to which a Stock Award shall be granted to each such person. 

(ii) To construe and interpret the Plan and Stock Awards granted under it, and to establish, amend and revoke rules
and regulations for its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan or in any Stock Award Agreement, in a manner and to the extent it shall deem necessary or expedient to
make the Plan fully effective. 
 (iii) To amend the Plan or a Stock Award as provided in Section 12.

  
 5 

 (iv) Generally, to exercise such powers and to perform such acts as
the Board deems necessary or expedient to promote the best interests of the Company which are not in conflict with the provisions of the Plan. 
 (c) Delegation to Committee. 
 (i) General.
The Board may delegate administration of the Plan to a Committee or Committees of one (1) or more members of the Board, and the term “Committee” shall apply to any person or persons to whom such authority has been delegated. If
administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board, including the power to delegate to a subcommittee any of the administrative
powers the Committee is authorized to exercise (and references in this Plan to the Board shall thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be
adopted from time to time by the Board. The Board may abolish the Committee at any time and revest in the Board the administration of the Plan. 
 (ii) Committee Composition when Common Stock is Publicly Traded. At such time as the Common Stock is publicly traded, in the discretion of the Board, a Committee may consist solely of two or
more Outside Directors, in accordance with Section 162(m) of the Code, and/or solely of two or more Non-Employee Directors, in accordance with Rule 16b-3. Within the scope of such authority, the Board or the Committee may (1) delegate to a
committee of one or more members of the Board who are not Outside Directors the authority to grant Stock Awards to eligible persons who are either (a) not then Covered Employees and are not expected to be Covered Employees at the time of
recognition of income resulting from such Stock Award or (b) not persons with respect to whom the Company wishes to comply with Section 162(m) of the Code and/or) (2) delegate to a committee of one or more members of the Board who are
not Non-Employee Directors the authority to grant Stock Awards to eligible persons who are not then subject to Section 16 of the Exchange Act. 
 (d) Effect of Board’s Decision. All determinations, interpretations and constructions made by the Board in good faith shall not be subject to review by any person and shall be final,
binding and conclusive on all persons. 
  

	4.	SHARES SUBJECT TO THE PLAN. 

(a) Share Reserve. Subject to the provisions of Section 11 relating to adjustments upon changes in Common Stock, the
Common Stock that may be issued pursuant to Stock Awards shall not exceed in the aggregate 7,306,247 shares of Common Stock. 

(b) Reversion of Shares to the Share Reserve. If any Stock Award shall for any reason expire or otherwise terminate, in
whole or in part, without having been exercised in full, the shares of Common Stock not acquired under such Stock Award shall revert to and again become available for issuance under the Plan. 

  
 6 

 (c) Source of Shares. The shares of Common Stock subject to the Plan may be
unissued shares or reacquired shares, bought on the market or otherwise. 
 (d) Incentive Stock Option Limit.
Notwithstanding anything to the contrary in this subsection 4(d), subject to the provisions of subsection 11(a) relating to Capitalization Adjustments, the aggregate maximum number of shares of Common Stock that may be issued
pursuant to the exercise of Incentive Stock Options shall be 14,612,494 shares of Common Stock. 
  

	5.	ELIGIBILITY. 

 (a) Eligibility for Specific Stock Awards. Incentive Stock Options may be granted only to employees of the Company or a “parent corporation” or “subsidiary corporation”
thereof (as such terms are defined in Sections 424(e) and (f) of the Code). Stock Awards other than Incentive Stock Options may be granted to Employees, Directors and Consultants; provided, however, Nonstatutory Stock Options may
not be granted to Employees, Directors and Consultants who are providing Continuous Service only to any “parent” of the Company, as such term is defined in Rule 405 promulgated under the Securities Act, unless the stock underlying
such Stock Awards is treated as “service recipient stock” under Section 409A of the Code because the Stock Awards are granted pursuant to a corporate transaction (such as a spin off transaction) or unless such Stock Awards comply with
the distribution requirements of Section 409A of the Code. 
 (b) Ten Percent Stockholders. A Ten Percent
Stockholder shall not be granted an Incentive Stock Option unless the exercise price of such Option is at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock at the date of grant and the Option is not exercisable
after the expiration of five (5) years from the date of grant. 
 (c) Section 162(m) Limitation. Subject
to the provisions of Section 11 relating to adjustments upon changes in the shares of Common Stock, no Employee shall be eligible to be granted Options covering more than One Million Two Hundred Thousand (1,200,000) shares of Common Stock
during any calendar year. This subsection 5(c) shall not apply prior to the Listing Date and, following the Listing Date, this subsection 5(c) shall not apply until (i) the earliest of: (1) the first material modification of the Plan
(including any increase in the number of shares of Common Stock reserved for issuance under the Plan in accordance with Section 4); (2) the issuance of all of the shares of Common Stock reserved for issuance under the Plan; (3) the
expiration of the Plan; or (4) the first meeting of stockholders at which Directors are to be elected that occurs after the close of the third calendar year following the calendar year in which occurred the first registration of an equity
security under Section 12 of the Exchange Act; or (ii) such other date required by Section 162(m) of the Code and the rules and regulations promulgated thereunder. 

(d) Consultants. 
 (i) Prior to the Listing Date, a Consultant shall not be eligible for the grant of a Stock Award if, at the time of grant, either the offer or the sale of the Company’s securities to

  
 7 

 
such Consultant is not exempt under Rule 701 of the Securities Act (“Rule 701”) because of the nature of the services that the Consultant is providing to the Company, or
because the Consultant is not a natural person, or as otherwise provided by Rule 701, unless the Company determines that such grant need not comply with the requirements of Rule 701 and will satisfy another exemption under the Securities Act as well
as comply with the securities laws of all other relevant jurisdictions. 
 (ii) From and after the Listing
Date, a Consultant shall not be eligible for the grant of a Stock Award if, at the time of grant, a Form S-8 Registration Statement under the Securities Act (“Form S-8”) is not available to register either the offer or the sale of the
Company’s securities to such Consultant because of the nature of the services that the Consultant is providing to the Company, or because the Consultant is not a natural person, or as otherwise provided by the rules governing the use of Form
S-8, unless the Company determines both (i) that such grant (A) shall be registered in another manner under the Securities Act (e.g., on a Form S-3 Registration Statement) or (B) does not require registration under the
Securities Act in order to comply with the requirements of the Securities Act, if applicable, and (ii) that such grant complies with the securities laws of all other relevant jurisdictions. 

(iii) Rule 701 and Form S-8 generally are available to consultants and advisors only if (i) they are natural
persons; (ii) they provide bona fide services to the issuer, its parents, its majority-owned subsidiaries or majority-owned subsidiaries of the issuer’s parent; and (iii) the services are not in connection with the offer or sale of
securities in a capital-raising transaction, and do not directly or indirectly promote or maintain a market for the issuer’s securities. 
  

	6.	OPTION PROVISIONS. 

 Each Option shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. All Options shall be separately designated Incentive Stock Options or Nonstatutory Stock
Options at the time of grant, and, if certificates are issued, a separate certificate or certificates will be issued for shares of Common Stock purchased on exercise of each type of Option. The provisions of separate Options need not be identical,
but each Option shall include (through incorporation of provisions hereof by reference in the Option or otherwise) the substance of each of the following provisions: 
 (a) Term. Subject to the provisions of subsection 5(b) regarding Incentive Stock Options granted to Ten Percent Stockholders, no Option granted prior to the Listing Date shall be exercisable
after the expiration of ten (10) years from the date it was granted, and no Incentive Stock Option granted on or after the Listing Date shall be exercisable after the expiration of ten (10) years from the date it was granted. 

(b) Exercise Price. Subject to the provisions of subsection 5(b) regarding Incentive Stock Options granted to Ten Percent
Stockholders, the exercise price of each Option shall be not less than one hundred percent (100%) of the Fair Market Value of the Common Stock subject to the Option on the date the Option is granted. Notwithstanding the foregoing, an Option may
be granted with an exercise price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option pursuant to a 

  
 8 

 
Corporate Transaction and in a manner consistent with the provisions of Sections 409A and 424(a) of the Code (whether or not such Stock Awards are Incentive Stock Options). 

(c) Consideration. The purchase price of Common Stock acquired pursuant to an Option shall be paid, to the extent permitted
by applicable statutes and regulations, either (i) in cash at the time the Option is exercised or (ii) at the discretion of the Board at the time of the grant of the Option (or subsequently in the case of a Nonstatutory Stock Option)
(1) by delivery to the Company of other Common Stock, (2) according to a deferred payment or other similar arrangement with the Optionholder or (3) in any other form of legal consideration that may be acceptable to the Board. Unless
otherwise specifically provided in the Option, the purchase price of Common Stock acquired pursuant to an Option that is paid by delivery to the Company of other Common Stock acquired, directly or indirectly from the Company, shall be paid only by
shares of the Common Stock of the Company that have been held for more than six (6) months (or such longer or shorter period of time required to avoid a charge to earnings for financial accounting purposes). At any time that the Company is
incorporated in Delaware, payment of the Common Stock’s “par value,” as defined in the Delaware General Corporation Law, shall not be made by deferred payment. 
 In the case of any deferred payment arrangement, interest shall be compounded at least annually and shall be charged at the market rate of interest necessary to avoid a charge to earnings for financial
accounting purposes. 
 (d) Transferability of an Incentive Stock Option. An Incentive Stock Option shall not be
transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing, the Optionholder may, by delivering written notice to
the Company, in a form satisfactory to the Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option. 

(e) Transferability of a Nonstatutory Stock Option. A Nonstatutory Stock Option granted prior to the Listing Date shall not
be transferable except by will or by the laws of descent and distribution and, to the extent provided in the Option Agreement, to such further extent as permitted by Section 260.140.41(e) of Title 10 of the California Code of Regulations at the
time of the grant of the Option, and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. A Nonstatutory Stock Option granted on or after the Listing Date shall be transferable to the extent provided in the Option
Agreement. If the Nonstatutory Stock Option does not provide for transferability, then the Nonstatutory Stock Option shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of
the Optionholder only by the Optionholder. Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who, in the event of the death of the
Optionholder, shall thereafter be entitled to exercise the Option. 
 (f) Vesting Generally. The total number of shares
of Common Stock subject to an Option may, but need not, vest and therefore become exercisable in periodic installments that may, but need not, be equal. The Option may be subject to such other terms and conditions on

  
 9 

 
the time or times when it may be exercised (which may be based on performance or other criteria) as the Board may deem appropriate. The vesting provisions of individual Options may vary. The
provisions of this subsection 6(f) are subject to any Option provisions governing the minimum number of shares of Common Stock as to which an Option may be exercised. 
 (g) Termination of Continuous Service. In the event an Optionholder’s Continuous Service terminates (for reasons other than Cause or upon the Optionholder’s death or Disability),
the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination) but only within such period of time ending on the earlier of (i) the date three
(3) months following the termination of the Optionholder’s Continuous Service (or such longer or shorter period specified in the Option Agreement, which period shall not be less than thirty (30) days for Options granted prior to the
Listing Date if necessary to comply with applicable state law, unless such termination is for Cause), or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination, the Optionholder does not
exercise his or her Option within the time specified in the Option Agreement, the Option shall terminate. 
 (h)
Extension of Termination Date. An Optionholder’s Option Agreement may also provide that if the exercise of the Option following the termination of the Optionholder’s Continuous Service (for reasons other than Cause or upon the
Optionholder’s death or Disability) would be prohibited at any time solely because the issuance of shares of Common Stock would violate the registration requirements under the Securities Act, then the Option shall terminate on the earlier of
(i) the expiration of the term of the Option set forth in subsection 6(a) or (ii) the expiration of a period of three (3) months after the termination of the Optionholder’s Continuous Service during which the exercise of the
Option would not be in violation of such registration requirements. 
 (i) Disability of Optionholder. In the
event that an Optionholder’s Continuous Service terminates as a result of the Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the
date of termination), but only within such period of time ending on the earlier of (i) the date twelve (12) months following such termination (or such longer or shorter period specified in the Option Agreement, which period shall not be
less than six (6) months for Options granted prior to the Listing Date if necessary to comply with applicable state laws) or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination, the
Optionholder does not exercise his or her Option within the time specified herein, the Option shall terminate. 
 (j)
Death of Optionholder. In the event (i) an Optionholder’s Continuous Service terminates as a result of the Optionholder’s death or (ii) the Optionholder dies within the period (if any) specified in the Option Agreement
after the termination of the Optionholder’s Continuous Service for a reason other than death, then the Option may be exercised (to the extent the Optionholder was entitled to exercise such Option as of the date of death) by the
Optionholder’s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the option upon the Optionholder’s death pursuant to subsection 6(d) or 6(e), but only within
the period ending on the earlier of (1) the 

  
 10 

 
date eighteen (18) months following the date of death (or such longer or shorter period specified in the Option Agreement, which period shall not be less than six (6) months for Options
granted prior to the Listing Date if necessary to comply with applicable state laws) or (2) the expiration of the term of such Option as set forth in the Option Agreement. If, after death, the Option is not exercised within the time specified
herein, the Option shall terminate. 
 (k) Termination for Cause. In the event an Optionholder’s Continuous
Service is terminated for Cause, the Option shall terminate upon the termination date of such Optionholder’s Continuous Service and the Optionholder is prohibited from exercising his or her Option at the time of such termination. 

(l) Early Exercise. The Option may, but need not, include a provision whereby the Optionholder may elect at any time before
the Optionholder’s Continuous Service terminates to exercise the Option as to any part or all of the shares of Common Stock subject to the Option prior to the full vesting of the Option. Subject to the “Repurchase Limitation” in
subsection 10(g), any unvested shares of Common Stock so purchased may be subject to a repurchase option in favor of the Company or to any other restriction the Board determines to be appropriate. 

(m) Right of Repurchase. Subject to the “Repurchase Limitation” in subsection 10(g), the Option may, but
need not, include a provision whereby the Company may elect, prior to the Listing Date, to repurchase all or any part of the vested shares of Common Stock acquired by the Optionholder pursuant to the exercise of the Option. 

(n) Right of First Refusal. The Option may, but need not, include a provision whereby the Company may elect, prior to the
Listing Date, to exercise a right of first refusal following receipt of notice from the Optionholder of the intent to transfer all or any part of the shares of Common Stock received upon the exercise of the Option. Except as expressly provided in
this subsection 6(n), such right of first refusal shall otherwise comply with any applicable provisions of the Bylaws of the Company. 
  

	7.	PROVISIONS OF STOCK AWARDS OTHER THAN OPTIONS.

 (a) Stock Bonus Awards. Each stock bonus agreement shall be in such form and shall contain such
terms and conditions as the Board shall deem appropriate. The terms and conditions of stock bonus agreements may change from time to time, and the terms and conditions of separate stock bonus agreements need not be identical, but each stock bonus
agreement shall include (through incorporation of provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions: 

(i) Consideration. A stock bonus may be awarded in consideration for past services actually rendered to the
Company or an Affiliate for its benefit. 
 (ii) Vesting. Subject to the “Repurchase
Limitation” in subsection 10(g), shares of Common Stock awarded under the stock bonus agreement may, but need not, be 

  
 11 

 
subject to a share repurchase option in favor of the Company in accordance with a vesting schedule to be determined by the Board. 

(iii) Termination of Participant’s Continuous Service. Subject to the “Repurchase Limitation”
in subsection 10(g), in the event a Participant’s Continuous Service terminates, the Company may reacquire any or all of the shares of Common Stock held by the Participant which have not vested as of the date of termination under the terms of
the stock bonus agreement. 
 (iv) Transferability. For a stock bonus award made before the Listing
Date, rights to acquire shares of Common Stock under the stock bonus agreement shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Participant only by the
Participant. For a stock bonus award made on or after the Listing Date, rights to acquire shares of Common Stock under the stock bonus agreement shall be transferable by the Participant only upon such terms and conditions as are set forth in the
stock bonus agreement, as the Board shall determine in its discretion, so long as Common Stock awarded under the stock bonus agreement remains subject to the terms of the stock bonus agreement. 

(b) Restricted Stock Awards. Each restricted stock purchase agreement shall be in such form and shall contain such terms
and conditions as the Board shall deem appropriate. The terms and conditions of the restricted stock purchase agreements may change from time to time, and the terms and conditions of separate restricted stock purchase agreements need not be
identical, but each restricted stock purchase agreement shall include (through incorporation of provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions: 

(i) Purchase Price. The purchase price under each restricted stock purchase agreement shall be such amount
as the Board shall determine and designate in such restricted stock purchase agreement. For restricted stock awards made prior to the Listing Date, the purchase price shall not be less than eighty-five percent (85%) of the Common Stock’s
Fair Market Value on the date such award is made or at the time the purchase is consummated. For restricted stock awards made on or after the Listing Date, the purchase price shall not be less than eighty-five percent (85%) of the Common
Stock’s Fair Market Value on the date such award is made or at the time the purchase is consummated. 

(ii) Consideration. The purchase price of Common Stock acquired pursuant to the restricted stock purchase
agreement shall be paid either: (i) in cash at the time of purchase; (ii) at the discretion of the Board, according to a deferred payment or other similar arrangement with the Participant; or (iii) in any other form of legal
consideration that may be acceptable to the Board in its discretion; provided, however, that at any time that the Company is incorporated in Delaware, then payment of the Common Stock’s “par value,” as defined in the Delaware General
Corporation Law, shall not be made by deferred payment. 
 (iii) Vesting. Subject to the
“Repurchase Limitation” in subsection 10(g), shares of Common Stock acquired under the restricted stock purchase agreement may, but need 

  
 12 

 
not, be subject to a share repurchase option in favor of the Company in accordance with a vesting schedule to be determined by the Board. 

(iv) Termination of Participant’s Continuous Service. Subject to the “Repurchase Limitation”
in subsection 10(g), in the event a Participant’s Continuous Service terminates, the Company may repurchase or otherwise reacquire any or all of the shares of Common Stock held by the Participant which have not vested as of the date of
termination under the terms of the restricted stock purchase agreement. 
 (v) Transferability. For
a restricted stock award made before the Listing Date, rights to acquire shares of Common Stock under the restricted stock purchase agreement shall not be transferable except by will or by the laws of descent and distribution and shall be
exercisable during the lifetime of the Participant only by the Participant. For a restricted stock award made on or after the Listing Date, rights to acquire shares of Common Stock under the restricted stock purchase agreement shall be transferable
by the Participant only upon such terms and conditions as are set forth in the restricted stock purchase agreement, as the Board shall determine in its discretion, so long as Common Stock awarded under the restricted stock purchase agreement remains
subject to the terms of the restricted stock purchase agreement. 
  

	8.	COVENANTS OF THE COMPANY. 

(a) Availability of Shares. During the terms of the Stock Awards, the Company shall keep available at all times the number
of shares of Common Stock required to satisfy such Stock Awards. 
 (b) Securities Law Compliance. The Company
shall seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Stock Awards and to issue and sell shares of Common Stock upon exercise of the Stock Awards; provided,
however, that this undertaking shall not require the Company to register under the Securities Act the Plan, any Stock Award or any Common Stock issued or issuable pursuant to any such Stock Award. If, after reasonable efforts, the Company is unable
to obtain from any such regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of Common Stock under the Plan, the Company shall be relieved from any liability for failure to
issue and sell Common Stock upon exercise of such Stock Awards unless and until such authority is obtained. 
  

	9.	USE OF PROCEEDS FROM STOCK. 

Proceeds from the sale of Common Stock pursuant to Stock Awards shall constitute general funds of the Company. 

 

	10.	MISCELLANEOUS. 

 (a) Acceleration of Exercisability and Vesting. The Board shall have the power to accelerate the time at which a Stock Award may first be exercised or the time during which a Stock Award or
any part thereof will vest in accordance with the Plan, notwithstanding the 

  
 13 

 
provisions in the Stock Award stating the time at which it may first be exercised or the time during which it will vest. 
 (b) Stockholder Rights. No Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Common Stock subject to such Stock Award
unless and until such Participant has satisfied all requirements for exercise of the Stock Award pursuant to its terms. 

(c) No Employment or other Service Rights. Nothing in the Plan or any instrument executed or Stock Award granted pursuant
thereto shall confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Stock Award was granted or shall affect the right of the Company or an Affiliate to terminate (i) the
employment of an Employee with or without notice and with or without Cause, (ii) the service of a Consultant pursuant to the terms of such Consultant’s agreement with the Company or an Affiliate or (iii) the service of a Director
pursuant to the Bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case may be. 

(d) Incentive Stock Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time
of grant) of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the Company and its Affiliates) exceeds one hundred thousand dollars
($100,000), the Options or portions thereof which exceed such limit (according to the order in which they were granted) shall be treated as Nonstatutory Stock Options. 
 (e) Investment Assurances. The Company may require a Participant, as a condition of exercising or acquiring Common Stock under any Stock Award, (i) to give written assurances
satisfactory to the Company as to the Participant’s knowledge and experience in financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the Company who is knowledgeable and experienced in financial
and business matters and that he or she is capable of evaluating, alone or together with the purchaser representative, the merits and risks of exercising the Stock Award; and (ii) to give written assurances satisfactory to the Company stating
that the Participant is acquiring Common Stock subject to the Stock Award for the Participant’s own account and not with any present intention of selling or otherwise distributing the Common Stock. The foregoing requirements, and any assurances
given pursuant to such requirements, shall be inoperative if (1) the issuance of the shares of Common Stock upon the exercise or acquisition of Common Stock under the Stock Award has been registered under a then currently effective registration
statement under the Securities Act or (2) as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then applicable securities laws. The Company
may, upon advice of counsel to the Company, place legends on stock certificates issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws, including, but not limited to, legends
restricting the transfer of the Common Stock. 

  
 14 

 (f) Withholding Obligations. To the extent provided by the terms of a Stock
Award Agreement, the Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition of Common Stock under a Stock Award by any of the following means (in addition to the Company’s right to
withhold from any compensation paid to the Participant by the Company) or by a combination of such means: (i) tendering a cash payment; (ii) authorizing the Company to withhold shares of Common Stock from the shares of Common Stock
otherwise issuable to the Participant as a result of the exercise or acquisition of Common Stock under the Stock Award, provided, however, that no shares of Common Stock are withheld with a value exceeding the minimum amount of tax required to be
withheld by law; or (iii) delivering to the Company owned and unencumbered shares of Common Stock. 
 (g)
Repurchase Limitation. The terms of any repurchase option shall be specified in the Stock Award Agreement. The repurchase price for vested shares of Common Stock shall be the Fair Market Value of the shares of Common Stock on the date of
repurchase. The repurchase price for unvested shares of Common Stock shall be the lower of (i) the Fair Market Value of the shares of Common Stock on the date of repurchase or (ii) their original purchase price. However, the Company shall
not exercise its repurchase right until at least six (6) months (or such longer or shorter period of time necessary to avoid classification of the Stock Award as a liability for financial accounting purposes) have elapsed following
delivery of shares of Common Stock subject to the Stock Award, unless otherwise specifically provided by the Board. 

(h) Compliance with Section 409A. To the extent that the Board determines that any Stock Award granted hereunder is
subject to Section 409A of the Code, the Stock Award Agreement evidencing such Stock Award shall incorporate the terms and conditions necessary to avoid the consequences specified in Section 409A(a)(1) of the Code. To the extent
applicable, the Plan and Stock Award Agreements shall be interpreted in accordance with Section 409A of the Code. 

(i) Compliance with Exemption Provided by Rule 12h-1(f). If at the end of the Company’s most recently completed fiscal
year: (i) the aggregate of the number of persons who hold outstanding compensatory employee stock options to purchase shares of Common Stock granted pursuant to the Plan or otherwise (such persons, “Holders of Options”)
equals or exceeds five hundred (500), and (ii) the Company’s assets exceed $10 million, then the following restrictions shall apply during any period during which the Company does not have a class of its securities registered under
Section 12 of the Exchange Act and is not required to file reports under Section 15(d) of the Exchange Act: (A) the Options and, prior to exercise, the shares of Common Stock to be issued on exercise of the Options may not be
transferred until the Company is no longer relying on the exemption provided by Rule 12h-1(f) promulgated under the Exchange Act (“Rule 12h-1(f)”), except: (1) as permitted by Rule 701(c) promulgated under the Securities
Act, (2) to a guardian upon the disability of the Holder of Options, or (3) to an executor upon the death of the Holder of Options (collectively, the “Permitted Transferees”); provided, however, the following
transfers are permitted: (i) transfers by the Holder of Options to the Company, and (ii) transfers in connection with a change of control or other acquisition involving the Company, if following such transaction, the Options no longer
remain outstanding and the Company is no longer relying on the exemption provided by Rule 12h-1(f); provided 

  
 15 

 
further, that any Permitted Transferees may not further transfer the Options; (B) except as otherwise provided in (A) above, the Options and shares of Common Stock to be issued on
exercise of the Options are restricted as to any pledge, hypothecation, or other transfer, including any short position, any “put equivalent position” as defined by Rule 16a-1(h) promulgated under the Exchange Act, or any “call
equivalent position” as defined by Rule 16a-1(b) promulgated under the Exchange Act by the Holder of Options prior to exercise of an Option until the Company is no longer relying on the exemption provided by Rule 12h-1(f); and (C) at any
time that the Company is relying on the exemption provided by Rule 12h-1(f), the Company shall deliver to Holders of Options (whether by physical or electronic delivery or written notice of the availability of the information on an internet site)
the information required by Rule 701(e)(3), (4), and (5) promulgated under the Securities Act every six (6) months, including financial statements that are not more than one hundred eighty (180) days old; provided, however, that the
Company may condition the delivery of such information upon the Holder of Options’ agreement to maintain its confidentiality. 
  

	11.	ADJUSTMENTS UPON CHANGES IN STOCK. 

(a) Capitalization Adjustments. If any change is made in the Common Stock subject to the Plan, or subject to any Stock
Award, without the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, stock split, liquidating dividend, combination of
shares, exchange of shares, change in corporate structure or other transaction not involving the receipt of consideration by the Company) (individually, a “Capitalization Adjustment”), the Plan will be appropriately adjusted
in the class(es) and maximum number of securities subject to the Plan pursuant to subsection 4(a), the class(es) and maximum number of securities that may be issued pursuant to the exercise of Incentive Stock Options pursuant to subsection 4(d),and
the maximum number of securities subject to award to any person pursuant to subsection 5(c), and the outstanding Stock Awards will be appropriately adjusted in the class(es) and number of securities and price per share of Common Stock subject to
such outstanding Stock Awards. The Board shall make such adjustments, and its determination shall be final, binding and conclusive. (The conversion of any convertible securities of the Company shall not be treated as a transaction “without
receipt of consideration” by the Company.) 
 (b) Dissolution or Liquidation. In the event of a dissolution
or liquidation of the Company, then all outstanding Stock Awards shall terminate immediately prior to such event. 
 (c)
Asset Sale, Merger, Consolidation or Reverse Merger. In the event of (i) a sale of substantially all of the assets of the Company, (ii) a merger or consolidation in which the Company is not the surviving corporation, (iii) a
reverse merger in which the Company is the surviving corporation but the shares of Common Stock outstanding immediately preceding the merger are converted by virtue of the merger into other property, whether in the form of securities, cash or
otherwise, or (iv) any transaction or series of related transactions in which in excess of 50% of the Company’s voting power is transferred other than a transaction which is primarily a capital raising transaction (individually, a
“Corporate Transaction”), then any surviving corporation or acquiring corporation shall assume any Stock Awards outstanding under 

  
 16 

 
the Plan or shall substitute similar stock awards (including an award to acquire the same consideration paid to the stockholders in the Corporate Transaction for those outstanding under the
Plan). In the event any surviving corporation or acquiring corporation refuses to assume such Stock Awards or to substitute similar stock awards for those outstanding under the Plan, then with respect to Stock Awards held by Participants whose
Continuous Service has not terminated, the vesting of such Stock Awards (and, if applicable, the time during which such Stock Awards may be exercised) shall be accelerated in full, and the Stock Awards shall terminate if not exercised (if
applicable) at or prior to the Corporate Transaction. With respect to any other Stock Awards outstanding under the Plan, such Stock Awards shall terminate if not exercised (if applicable) prior to the Corporate Transaction. 

 

	12.	AMENDMENT OF THE PLAN AND STOCK AWARDS.

 (a) Amendment of Plan. The Board at any time, and from time to time, may amend the Plan. However,
except as provided in Section 11 relating to adjustments upon changes in Common Stock, no amendment shall be effective unless approved by the stockholders of the Company to the extent stockholder approval is necessary to satisfy the
requirements of Section 422 of the Code, Rule 16b-3 or any Nasdaq or securities exchange listing requirements. 

(b) Stockholder Approval. The Board may, in its sole discretion, submit any other amendment to the Plan for stockholder
approval, including, but not limited to, amendments to the Plan intended to satisfy the requirements of Section 162(m) of the Code and the regulations thereunder regarding the exclusion of performance-based compensation from the limit on
corporate deductibility of compensation paid to certain executive officers. 
 (c) Contemplated Amendments. It is
expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable to provide eligible Employees with the maximum benefits provided or to be provided under the provisions of the Code and the regulations
promulgated thereunder relating to Incentive Stock Options and/or to bring the Plan and/or Incentive Stock Options granted under it into compliance therewith. 
 (d) No Impairment of Rights. Rights under any Stock Award granted before amendment of the Plan shall not be impaired by any amendment of the Plan unless (i) the Company requests the
consent of the Participant and (ii) the Participant consents in writing. 
 (e) Amendment of Stock Awards.
The Board at any time, and from time to time, may amend the terms of any one or more Stock Awards; provided, however, that the rights under any Stock Award shall not be impaired by any such amendment unless (i) the Company requests the consent
of the Participant and (ii) the Participant consents in writing. 
  

	13.	TERMINATION OR SUSPENSION OF THE PLAN. 

(a) Plan Term. The Board may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall terminate
on the day before the tenth (10th) anniversary of the date the Plan is adopted by the Board or approved by the stockholders of the Company, 

  
 17 

 
whichever is earlier. No Stock Awards may be granted under the Plan while the Plan is suspended or after it is terminated. 

(b) No Impairment of Rights. Suspension or termination of the Plan shall not impair rights and obligations under any Stock
Award granted while the Plan is in effect except with the written consent of the Participant. 
  

	14.	EFFECTIVE DATE OF PLAN. 

The Plan shall become effective as determined by the Board, but no Stock Award shall be exercised (or, in the case of a stock bonus, shall
be granted) unless and until the Plan has been approved by the stockholders of the Company, which approval shall be within twelve (12) months before or after the date the Plan is adopted by the Board. 

 

	15.	CHOICE OF LAW. 

 The law of the State of California shall govern all questions concerning the construction, validity and interpretation of this Plan, without regard to such state’s conflict of laws rules. 

  
 18 

 AMBIT BIOSCIENCES CORPORATION 

FORM OF STOCK OPTION AGREEMENT 

[WITH SPECIAL VESTING ACCELERATION PROVISIONS]

 (INCENTIVE STOCK OPTION OR NONSTATUTORY
STOCK OPTION) 
 Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Stock Option
Agreement, Ambit Biosciences Corporation (the “Company”) has granted you an option under its Amended and Restated 2011 Equity Incentive Plan (the “Plan”) to purchase the number of shares of the Company’s Common Stock
indicated in your Grant Notice at the exercise price indicated in your Grant Notice. Defined terms not explicitly defined in this Stock Option Agreement but defined in the Plan shall have the same definitions as in the Plan. 

The details of your option are as follows: 
 1. VESTING. Subject to the limitations contained herein, your option will vest as provided in your Grant Notice, provided that vesting will cease upon the termination of your
Continuous Service. 
 a. Special Acceleration Provisions. Notwithstanding any other provisions of your Grant
Notice to the contrary, if (i) a Change in Control, as defined below, occurs and (ii) within thirteen (13) months after the date of such Change in Control your Continuous Service terminates due to an involuntary termination (not
including death or Disability) without Cause or due to a Constructive Termination, as defined below, then the vesting and exercisability of your option shall be accelerated in full or any reacquisition or repurchase rights held by the Company with
respect to Common Stock acquired pursuant to the early exercise of your option shall lapse in full, as appropriate. 
 For purposes of this
subsection 1(a) only, Change in Control means: (i) a sale or other disposition of all or substantially all of the assets of the Company; (ii) a merger or consolidation in which the Company is not the surviving entity and in which the
stockholders of the Company immediately prior to such consolidation or merger own less than fifty percent (50%) of the surviving entity’s voting power immediately after the transaction; (iii) a reverse merger in which the Company is
the surviving entity but the shares of Common Stock outstanding immediately preceding the merger are converted by virtue of the merger into other property, whether in the form of securities, cash or otherwise, and in which the stockholders of the
Company immediately prior to such reverse merger own less than fifty percent (50%) of the Company’s voting power immediately after the transaction; or (iv) after the Listing Date an acquisition by any person, entity or group within
the meaning of Section 13(d) or 14(d) of the Exchange Act, or any comparable successor provisions (excluding any employee benefit plan, or related trust, sponsored or maintained by the Company or subsidiary of the Company or other entity
controlled by the Company) of the beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act, or comparable successor rule) of securities of the 

  
 1 

 
Company representing at least fifty percent (50%) of the voting power entitled to vote in the election of directors. 
 For purposes of this subsection 1(a) only, Constructive Termination means: such person’s voluntary resignation following (i) a change in his or her position with the Company which materially
reduces his or her level of responsibility, (ii) a reduction in his or her level of base salary, or (iii) a relocation of such person’s place of employment by more than fifty (50) miles, provided and only in such change,
reduction or relocation is effected by the Company without the person’s consent. 
 b. Parachute Payments. In
the event that the acceleration of the vesting and exercisability of your option and/or the lapse of reacquisition or repurchase rights with respect to Common Stock acquired pursuant to the early exercise of your option provided for in subsection
1(a) and benefits otherwise payable to you (i) constitute “parachute payments” within the meaning of Section 280G of the Code, or any comparable successor provisions, and (ii) but for this subsection would be subject to the
excise tax imposed by Section 4999 of the Code, or any comparable successor provisions (the “Excise Tax”), then your benefits hereunder shall be either 
 1) provided to you in full, or 
 2) provided to you as to such
lesser extent which would result in no portion of such benefits being subject to the Excise Tax, 
 whichever of the foregoing amounts, when
taking into account applicable federal, state, local and foreign income and employment taxes, the Excise Tax, and any other applicable taxes, results in the receipt by you, on an after-tax basis, of the greatest amount of benefits, notwithstanding
that all or some portion of such benefits may be taxable under the Excise Tax. Unless the Company and you otherwise agree in writing, any determination required under this subsection shall be made in writing in good faith by the Accountants. In the
event of a reduction of benefits hereunder, you shall be given the choice of which benefits to reduce. For purposes of making the calculations required by this subsection, the Accountants may make reasonable assumptions and approximations concerning
applicable taxes and may rely on reasonable, good faith interpretations concerning the application of the Code, and other applicable legal authority. The Company and you shall furnish to the Accountants such information and documents as the
Accountants may reasonably request in order to make a determination under this subsection. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this subsection. 

If, notwithstanding any reduction described in this subsection, the IRS determines that you are liable for the Excise Tax as a result of the receipt of
the payment of benefits as described above, then you shall be obligated to pay back to the Company, within thirty (30) days after a final IRS determination or in the event that you challenge the final IRS determination, a final judicial
determination, a portion of the payment equal to the “Repayment Amount.” The Repayment Amount with respect to the payment of benefits shall be the smallest such amount, if any, as shall be required to be paid to the Company so that your
net after-tax proceeds with respect to any payment of benefits (after taking into account the payment of the Excise Tax and all other 

  
 2 

 
applicable taxes imposed on such payment) shall be maximized. The Repayment Amount with respect to the payment of benefits shall be zero if a Repayment Amount of more than zero would not result
in your net after-tax proceeds with respect to the payment of such benefits being maximized. If the Excise Tax is not eliminated pursuant to this paragraph, you shall pay the Excise Tax. 
 Notwithstanding any other provision of this subsection 1(b), if (i) there is a reduction in the payment of benefits as described in this subsection, (ii) the IRS later determines that you are
liable for the Excise Tax, the payment of which would result in the maximization of your net after-tax proceeds (calculated as if your benefits had not previously been reduced), and (iii) you pay the Excise Tax, then the Company shall pay to
you those benefits which were reduced pursuant to this subsection contemporaneously or as soon as administratively possible after you pay the Excise Tax so that your net after-tax proceeds with respect to the payment of benefits is maximized.

 2. NUMBER OF SHARES AND EXERCISE
PRICE. The number of shares of Common Stock subject to your option and your exercise price per share referenced in your Grant Notice may be adjusted from time to time for Capitalization Adjustments, as provided in the Plan.

 3. EXERCISE PRIOR TO VESTING
(“EARLY EXERCISE”). If permitted in your Grant Notice (i.e., the “Exercise Schedule” indicates that “Early Exercise” of your option is permitted) and subject to the provisions of your
option, you may elect at any time that is both (i) during the period of your Continuous Service and (ii) during the term of your option, to exercise all or part of your option, including the nonvested portion of your option; provided,
however, that: 
 a. a partial exercise of your option shall be deemed to cover first vested shares of Common Stock and
then the earliest vesting installment of unvested shares of Common Stock; 
 b. any shares of Common Stock so purchased
from installments that have not vested as of the date of exercise shall be subject to the purchase option in favor of the Company as described in the Company’s form of Early Exercise Stock Purchase Agreement; 

c. you shall enter into the Company’s form of Early Exercise Stock Purchase Agreement with a vesting schedule that will
result in the same vesting as if no early exercise had occurred; and 
 d. if your option is an incentive stock option,
then, as provided in the Plan, to the extent that the aggregate Fair Market Value (determined at the time of grant) of the shares of Common Stock with respect to which your option plus all other incentive stock options you hold are exercisable for
the first time by you during any calendar year (under all plans of the Company and its Affiliates) exceeds one hundred thousand dollars ($100,000), your option(s) or portions thereof that exceed such limit (according to the order in which they were
granted) shall be treated as nonstatutory stock options. 

  
 3 

 4. METHOD OF PAYMENT. Payment of
the exercise price is due in full upon exercise of all or any part of your option. You may elect to make payment of the exercise price in cash or by check or in any other manner permitted by your Grant Notice, which may include one or
more of the following: 
 a. In the Company’s sole discretion at the time your option is exercised and provided that
at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common
Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds. 

b. Provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street
Journal, by delivery of already-owned shares of Common Stock either that you have held for the period required to avoid a charge to the Company’s reported earnings (generally six months) or that you did not acquire, directly or indirectly
from the Company, that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. “Delivery” for these purposes, in the sole discretion of the
Company at the time you exercise your option, shall include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. Notwithstanding the foregoing, you may not exercise your option by
tender to the Company of Common Stock to the extent such tender would violate the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock. 

c. Pursuant to the following deferred payment alternative: 

1) Not less than one hundred percent (100%) of the aggregate exercise price, plus accrued interest, shall be due four
(4) years from date of exercise or, at the Company’s election, upon termination of your Continuous Service. 

2) Interest shall be compounded at least annually and shall be charged at the market rate of interest necessary to avoid a charge
to earnings for financial accounting purposes. 
 3) At any time that the Company is incorporated in Delaware, payment
of the Common Stock’s “par value,” as defined in the Delaware General Corporation Law, shall be made in cash and not by deferred payment. 
 4) In order to elect the deferred payment alternative, you must, as a part of your written notice of exercise, give notice of the election of this payment alternative and, in order to secure the
payment of the deferred exercise price to the Company hereunder, if the Company so requests, you must tender to the Company a promissory note and a security agreement covering the purchased shares of Common Stock, both in form and substance
satisfactory to the Company, or such other or additional documentation as the Company may request. 

  
 4 

 5. WHOLE SHARES. You may exercise your option
only for whole shares of Common Stock. 
 6. SECURITIES LAW
COMPLIANCE. Notwithstanding anything to the contrary contained herein, you may not exercise your option unless the shares of Common Stock issuable upon such exercise are then registered under the Securities Act or, if such shares
of Common Stock are not then so registered, the Company has determined that such exercise and issuance would be exempt from the registration requirements of the Securities Act. The exercise of your option must also comply with other applicable laws
and regulations governing your option, and you may not exercise your option if the Company determines that such exercise would not be in material compliance with such laws and regulations. 

7. TERM. You may not exercise your option before the commencement of its term or after its term expires. The
term of your option commences on the Date of Grant and expires upon the earliest of the following: 
 a. As
of the date of termination of your Continuous Service if such termination is for Cause; 
 b. three (3) months after
the termination of your Continuous Service for any reason other than Cause or your Disability or death, provided that if during any part of such three- (3-) month period your option is not exercisable solely because of the condition set forth in the
preceding paragraph relating to “Securities Law Compliance,” your option shall not expire until the earlier of the Expiration Date or until it shall have been exercisable for an aggregate period of three (3) months after the
termination of your Continuous Service; 
 c. twelve (12) months after the termination of your Continuous Service
due to your Disability; 
 d. eighteen (18) months after your death if you die either during your Continuous Service
or within three (3) months after your Continuous Service terminates; 
 e. the Expiration Date indicated in your
Grant Notice; or 
 f. the day before the tenth (10th) anniversary of the Date of Grant. 

If your option is an incentive stock option, note that, to obtain the federal income tax advantages associated with an “incentive stock
option,” the Code requires that at all times beginning on the date of grant of your option and ending on the day three (3) months before the date of your option’s exercise, you must be an employee of the Company or an Affiliate,
except in the event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an “incentive
stock option” if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three (3) months after the date your
employment terminates. 

  
 5 

 8. EXERCISE. 

a. You may exercise the vested portion of your option (and the unvested portion of your option if your Grant Notice
so permits) during its term by delivering a Notice of Exercise (in a form designated by the Company) together with the exercise price to the Secretary of the Company, or to such other person as the Company may designate, during regular business
hours, together with such additional documents as the Company may then require. 
 b. By exercising your
option you agree that, as a condition to any exercise of your option, the Company may require you to enter into an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company arising by reason of
(1) the exercise of your option, (2) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are subject at the time of exercise, or (3) the disposition of shares of Common Stock acquired upon such
exercise. 
 c. If your option is an incentive stock option, by exercising your option you agree that you
will notify the Company in writing within fifteen (15) days after the date of any disposition of any of the shares of the Common Stock issued upon exercise of your option that occurs within two (2) years after the date of your option grant
or within one (1) year after such shares of Common Stock are transferred upon exercise of your option. 

d. By exercising your option you agree that the Company (or a representative of the underwriter(s)) may, in
connection with the first underwritten registration of the offering of any securities of the Company under the Securities Act, require that you not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter
into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company held by you, for a period of time specified by the underwriter(s) (not to exceed one hundred eighty
(180) days) following the effective date of the registration statement of the Company filed under the Securities Act. You further agree to execute and deliver such other agreements as may be reasonably requested by the Company and/or the
underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to your shares of Common Stock
until the end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 8(d) and shall have the right, power and authority to enforce the provisions hereof as though they were a party
hereto. 
 9. TRANSFERABILITY. 

a. If your option is an incentive stock option, your option is not transferable, except by will or by the laws of
descent and distribution, and is exercisable during your life only by you. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your
death, shall thereafter be entitled to exercise your option. 

  
 6 

 b. If your option is a nonstatutory stock option, your option is not transferable,
except (i) by will or by the laws of descent and distribution, (ii) with the prior written approval of the Company, by instrument to an inter vivos or testamentary trust, in a form accepted by the Company, in which the option is to be
passed to beneficiaries upon the death of the trustor (settlor) and (iii) with the prior written approval of the Company, by gift, in a form accepted by the Company, to your “immediate family” as that term is defined in 17 C.F.R.
240.16a-1(e). The term “immediate family” is defined in 17 C.F.R. 240.16a-1(e) to mean any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law,
brother-in-law, or sister-in-law, and includes adoptive relationships. Your option is exercisable during your life only by you or a transferee satisfying the above-stated conditions. The right of a transferee to exercise the transferred portion of
your option after termination of your Continuous Service shall terminate in accordance with your right to exercise your option as specified in your option. In the event that your Continuous Service terminates due to your death, your transferee will
be treated as a person who acquired the right to exercise your option by bequest or inheritance. In addition to the foregoing, the Company may require, as a condition of the transfer of your option to a trust or by gift, that your transferee enter
into an option transfer agreement provided by, or acceptable to, the Company. The terms of your option shall be binding upon your transferees, executors, administrators, heirs, successors, and assigns. Notwithstanding the foregoing, by delivering
written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your death, shall thereafter be entitled to exercise your option. 

10. RIGHT OF FIRST REFUSAL. Shares of Common Stock that you
acquire upon exercise of your option are subject to any right of first refusal that may be described in the Company’s bylaws in effect at such time the Company elects to exercise its right. The Company’s right of first refusal shall expire
on the Listing Date. 
 11. RIGHT OF REPURCHASE. To the extent
provided in the Company’s bylaws as amended from time to time, the Company shall have the right to repurchase all or any part of the shares of Common Stock you acquire pursuant to the exercise of your option. 

12. OPTION NOT A SERVICE CONTRACT. Your option
is not an employment or service contract, and nothing in your option shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company or an Affiliate, or of the Company or an Affiliate to continue
your employment. In addition, nothing in your option shall obligate the Company or an Affiliate, their respective stockholders, Boards of Directors, Officers or Employees to continue any relationship that you might have as a Director or Consultant
for the Company or an Affiliate. 
 13. WITHHOLDING OBLIGATIONS. 

a. At the time you exercise your option, in whole or in part, or at any time thereafter as requested by the Company, you hereby
authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “cashless exercise” pursuant to a program developed under Regulation T as promulgated by
the Federal Reserve Board to the extent permitted by the Company), any sums 

  
 7 

 
required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or an Affiliate, if any, which arise in connection with your option. 

b. Upon your request and subject to approval by the Company, in its sole discretion, and compliance with any applicable conditions
or restrictions of law, the Company may withhold from fully vested shares of Common Stock otherwise issuable to you upon the exercise of your option a number of whole shares of Common Stock having a Fair Market Value, determined by the Company as of
the date of exercise, not in excess of the minimum amount of tax required to be withheld by law. If the date of determination of any tax withholding obligation is deferred to a date later than the date of exercise of your option, share withholding
pursuant to the preceding sentence shall not be permitted unless you make a proper and timely election under Section 83(b) of the Code, covering the aggregate number of shares of Common Stock acquired upon such exercise with respect to which
such determination is otherwise deferred, to accelerate the determination of such tax withholding obligation to the date of exercise of your option. Notwithstanding the filing of such election, shares of Common Stock shall be withheld solely from
fully vested shares of Common Stock determined as of the date of exercise of your option that are otherwise issuable to you upon such exercise. Any adverse consequences to you arising in connection with such share withholding procedure shall be your
sole responsibility. 
 c. You may not exercise your option unless the tax withholding obligations of the Company and/or
any Affiliate are satisfied. Accordingly, you may not be able to exercise your option when desired even though your option is vested, and the Company shall have no obligation to issue a certificate for such shares of Common Stock or release such
shares of Common Stock from any escrow provided for herein. 
 14. NOTICES. Any notices provided
for in your option or the Plan shall be given in writing and shall be deemed effectively given upon receipt or, in the case of notices delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage
prepaid, addressed to you at the last address you provided to the Company. 
 15. GOVERNING
PLAN DOCUMENT. Your option is subject to all the provisions of the Plan, the provisions of which are hereby made a part of your option, and is further subject to all interpretations, amendments, rules and
regulations which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of your option and those of the Plan, the provisions of the Plan shall control. 

  
 8 

 AMBIT BIOSCIENCES CORPORATION 

FORM OF STOCK OPTION AGREEMENT 

[WITHOUT SPECIAL VESTING ACCELERATION PROVISIONS]

 (INCENTIVE STOCK OPTION OR NONSTATUTORY
STOCK OPTION) 
 Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Stock Option
Agreement, Ambit Biosciences Corporation (the “Company”) has granted you an option under its Amended and Restated 2011 Equity Incentive Plan (the “Plan”) to purchase the number of shares of the Company’s Common Stock
indicated in your Grant Notice at the exercise price indicated in your Grant Notice. Defined terms not explicitly defined in this Stock Option Agreement but defined in the Plan shall have the same definitions as in the Plan. 

The details of your option are as follows: 
 1. VESTING. Subject to the limitations contained herein, your option will vest as provided in your Grant Notice, provided that vesting will cease upon the termination of your
Continuous Service. 
 2. NUMBER OF SHARES AND
EXERCISE PRICE. The number of shares of Common Stock subject to your option and your exercise price per share referenced in your Grant Notice may be adjusted from time to time for Capitalization Adjustments, as
provided in the Plan. 
 3. EXERCISE PRIOR TO VESTING
(“EARLY EXERCISE”). If permitted in your Grant Notice (i.e., the “Exercise Schedule” indicates that “Early Exercise” of your option is permitted) and subject to the provisions of your
option, you may elect at any time that is both (i) during the period of your Continuous Service and (ii) during the term of your option, to exercise all or part of your option, including the nonvested portion of your option; provided,
however, that: 
 a. a partial exercise of your option shall be deemed to cover first vested shares of Common Stock and
then the earliest vesting installment of unvested shares of Common Stock; 
 b. any shares of Common Stock so purchased
from installments that have not vested as of the date of exercise shall be subject to the purchase option in favor of the Company as described in the Company’s form of Early Exercise Stock Purchase Agreement; 

c. you shall enter into the Company’s form of Early Exercise Stock Purchase Agreement with a vesting schedule that will
result in the same vesting as if no early exercise had occurred; and 
 d. if your option is an incentive stock option,
then, as provided in the Plan, to the extent that the aggregate Fair Market Value (determined at the time of grant) of the shares of Common Stock with respect to which your option plus all other incentive stock options you hold

  
 1 

 
are exercisable for the first time by you during any calendar year (under all plans of the Company and its Affiliates) exceeds one hundred thousand dollars ($100,000), your option(s) or portions
thereof that exceed such limit (according to the order in which they were granted) shall be treated as nonstatutory stock options. 
 4. METHOD OF PAYMENT. Payment of the exercise price is due in full upon exercise of all or any part of your option. You may elect to make payment
of the exercise price in cash or by check or in any other manner permitted by your Grant Notice, which may include one or more of the following: 
 a. In the Company’s sole discretion at the time your option is exercised and provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall
Street Journal, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of
irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds. 
 b. Provided that
at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, by delivery of already-owned shares of Common Stock either that you have held for the period required to avoid a charge to the
Company’s reported earnings (generally six months) or that you did not acquire, directly or indirectly from the Company, that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market
Value on the date of exercise. “Delivery” for these purposes, in the sole discretion of the Company at the time you exercise your option, shall include delivery to the Company of your attestation of ownership of such shares of Common Stock
in a form approved by the Company. Notwithstanding the foregoing, you may not exercise your option by tender to the Company of Common Stock to the extent such tender would violate the provisions of any law, regulation or agreement restricting the
redemption of the Company’s stock. 
 c. Pursuant to the following deferred payment alternative: 

1) Not less than one hundred percent (100%) of the aggregate exercise price, plus accrued interest, shall be due four
(4) years from date of exercise or, at the Company’s election, upon termination of your Continuous Service. 

2) Interest shall be compounded at least annually and shall be charged at the market rate of interest necessary to avoid a charge
to earnings for financial accounting purposes. 
 3) At any time that the Company is incorporated in Delaware, payment
of the Common Stock’s “par value,” as defined in the Delaware General Corporation Law, shall be made in cash and not by deferred payment. 
 4) In order to elect the deferred payment alternative, you must, as a part of your written notice of exercise, give notice of the election of this payment alternative and,

  
 2 

 
in order to secure the payment of the deferred exercise price to the Company hereunder, if the Company so requests, you must tender to the Company a promissory note and a security agreement
covering the purchased shares of Common Stock, both in form and substance satisfactory to the Company, or such other or additional documentation as the Company may request. 
 5. WHOLE SHARES. You may exercise your option only for whole shares of Common Stock. 
 6. SECURITIES LAW COMPLIANCE. Notwithstanding anything to the contrary contained herein, you may not exercise your option unless the shares of
Common Stock issuable upon such exercise are then registered under the Securities Act or, if such shares of Common Stock are not then so registered, the Company has determined that such exercise and issuance would be exempt from the registration
requirements of the Securities Act. The exercise of your option must also comply with other applicable laws and regulations governing your option, and you may not exercise your option if the Company determines that such exercise would not be in
material compliance with such laws and regulations. 
 7. TERM. You may not exercise your option
before the commencement of its term or after its term expires. The term of your option commences on the Date of Grant and expires upon the earliest of the following: 

a. As of the date of termination of your Continuous Service if such termination is for Cause; 

b. three (3) months after the termination of your Continuous Service for any reason other than Cause or your Disability or
death, provided that if during any part of such three- (3-) month period your option is not exercisable solely because of the condition set forth in the preceding paragraph relating to “Securities Law Compliance,” your option shall not
expire until the earlier of the Expiration Date or until it shall have been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service; 

c. twelve (12) months after the termination of your Continuous Service due to your Disability; 

d. eighteen (18) months after your death if you die either during your Continuous Service or within three (3) months
after your Continuous Service terminates; 
 e. the Expiration Date indicated in your Grant Notice; or 

f. the day before the tenth (10th) anniversary of the Date of Grant. 

If your option is an incentive stock option, note that, to obtain the federal income tax advantages associated with an “incentive stock
option,” the Code requires that at all times beginning on the date of grant of your option and ending on the day three (3) months before the date of your option’s exercise, you must be an employee of the Company or an Affiliate,
except in the event 

  
 3 

 
of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will
necessarily be treated as an “incentive stock option” if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three
(3) months after the date your employment terminates. 
 8. EXERCISE. 

a. You may exercise the vested portion of your option (and the unvested portion of your option if your Grant Notice
so permits) during its term by delivering a Notice of Exercise (in a form designated by the Company) together with the exercise price to the Secretary of the Company, or to such other person as the Company may designate, during regular business
hours, together with such additional documents as the Company may then require. 
 b. By exercising your
option you agree that, as a condition to any exercise of your option, the Company may require you to enter into an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company arising by reason of
(1) the exercise of your option, (2) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are subject at the time of exercise, or (3) the disposition of shares of Common Stock acquired upon such
exercise. 
 c. If your option is an incentive stock option, by exercising your option you agree that you
will notify the Company in writing within fifteen (15) days after the date of any disposition of any of the shares of the Common Stock issued upon exercise of your option that occurs within two (2) years after the date of your option grant
or within one (1) year after such shares of Common Stock are transferred upon exercise of your option. 

d. By exercising your option you agree that the Company (or a representative of the underwriter(s)) may, in
connection with the first underwritten registration of the offering of any securities of the Company under the Securities Act, require that you not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter
into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company held by you, for a period of time specified by the underwriter(s) (not to exceed one hundred eighty
(180) days) following the effective date of the registration statement of the Company filed under the Securities Act. You further agree to execute and deliver such other agreements as may be reasonably requested by the Company and/or the
underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to your shares of Common Stock
until the end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 8(d) and shall have the right, power and authority to enforce the provisions hereof as though they were a party
hereto. 
 9. TRANSFERABILITY. 

  
 4 

 a. If your option is an incentive stock option, your option is not transferable,
except by will or by the laws of descent and distribution, and is exercisable during your life only by you. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third
party who, in the event of your death, shall thereafter be entitled to exercise your option. 
 b. If your option is a
nonstatutory stock option, your option is not transferable, except (i) by will or by the laws of descent and distribution, (ii) with the prior written approval of the Company, by instrument to an inter vivos or testamentary trust, in a
form accepted by the Company, in which the option is to be passed to beneficiaries upon the death of the trustor (settlor) and (iii) with the prior written approval of the Company, by gift, in a form accepted by the Company, to your
“immediate family” as that term is defined in 17 C.F.R. 240.16a-1(e). The term “immediate family” is defined in 17 C.F.R. 240.16a-1(e) to mean any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, and includes adoptive relationships. Your option is exercisable during your life only by you or a transferee satisfying the above-stated conditions. The
right of a transferee to exercise the transferred portion of your option after termination of your Continuous Service shall terminate in accordance with your right to exercise your option as specified in your option. In the event that your
Continuous Service terminates due to your death, your transferee will be treated as a person who acquired the right to exercise your option by bequest or inheritance. In addition to the foregoing, the Company may require, as a condition of the
transfer of your option to a trust or by gift, that your transferee enter into an option transfer agreement provided by, or acceptable to, the Company. The terms of your option shall be binding upon your transferees, executors, administrators,
heirs, successors, and assigns. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your death, shall thereafter be entitled to
exercise your option. 
 10. RIGHT OF FIRST REFUSAL.
Shares of Common Stock that you acquire upon exercise of your option are subject to any right of first refusal that may be described in the Company’s bylaws in effect at such time the Company elects to exercise its right. The Company’s
right of first refusal shall expire on the Listing Date. 
 11. RIGHT OF
REPURCHASE. To the extent provided in the Company’s bylaws as amended from time to time, the Company shall have the right to repurchase all or any part of the shares of Common Stock you acquire pursuant to the exercise of
your option. 
 12. OPTION NOT A SERVICE
CONTRACT. Your option is not an employment or service contract, and nothing in your option shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company or an Affiliate, or of
the Company or an Affiliate to continue your employment. In addition, nothing in your option shall obligate the Company or an Affiliate, their respective stockholders, Boards of Directors, Officers or Employees to continue any relationship that you
might have as a Director or Consultant for the Company or an Affiliate. 
 13. WITHHOLDING
OBLIGATIONS. 

  
 5 

 a. At the time you exercise your option, in whole or in part, or at any time
thereafter as requested by the Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “cashless exercise” pursuant to a
program developed under Regulation T as promulgated by the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or an Affiliate,
if any, which arise in connection with your option. 
 b. Upon your request and subject to approval by the Company, in
its sole discretion, and compliance with any applicable conditions or restrictions of law, the Company may withhold from fully vested shares of Common Stock otherwise issuable to you upon the exercise of your option a number of whole shares of
Common Stock having a Fair Market Value, determined by the Company as of the date of exercise, not in excess of the minimum amount of tax required to be withheld by law. If the date of determination of any tax withholding obligation is deferred to a
date later than the date of exercise of your option, share withholding pursuant to the preceding sentence shall not be permitted unless you make a proper and timely election under Section 83(b) of the Code, covering the aggregate number of
shares of Common Stock acquired upon such exercise with respect to which such determination is otherwise deferred, to accelerate the determination of such tax withholding obligation to the date of exercise of your option. Notwithstanding the filing
of such election, shares of Common Stock shall be withheld solely from fully vested shares of Common Stock determined as of the date of exercise of your option that are otherwise issuable to you upon such exercise. Any adverse consequences to you
arising in connection with such share withholding procedure shall be your sole responsibility. 
 c. You may not exercise
your option unless the tax withholding obligations of the Company and/or any Affiliate are satisfied. Accordingly, you may not be able to exercise your option when desired even though your option is vested, and the Company shall have no obligation
to issue a certificate for such shares of Common Stock or release such shares of Common Stock from any escrow provided for herein. 
 14. NOTICES. Any notices provided for in your option or the Plan shall be given in writing and shall be deemed effectively given upon receipt or, in the case of notices
delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company. 

15. GOVERNING PLAN DOCUMENT. Your option is subject to all the provisions of
the Plan, the provisions of which are hereby made a part of your option, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan. In the event of
any conflict between the provisions of your option and those of the Plan, the provisions of the Plan shall control. 

  
 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}]]