Document:

Exhibit 10.4 Stock Purchase Agreement, by and between the Company and Yinuo, dated December 22, 2017.

 

STOCK PURCHASE AGREEMENT

 

This STOCK PURCHASE AGREEMENT (“Agreement”) entered into as of December 22, 2017, by and among Fang Sun (“Seller”), the sole shareholder of Yinuo Technologies LTD, a Chinese Corporation having an address of Room 409-410, Building A, Peng Nian University City Science Park, 1213 Liu Xian Avenue, Nanshan District, Shenzhen, Guangdong, China (hereinafter “Yinuo”); OneLife Technologies Corporation, a Nevada Corporation having a business address of 5005 Newport Drive, Rolling Meadows, IL 60008 (“Buyer”); and Yinuo.

RECITALS

 

WHEREAS, Yinuo is a corporation incorporated pursuant to the laws of China; and

 

WHEREAS, Yinuo has authorized and issued 10,000 (Ten Thousand) shares of common stock, constituting its entire capitalization (cumulatively “Shares”, individually “Share”); and

 

WHEREAS, Seller owns all of the Shares; and

 

WHEREAS, in exchange for the consideration more fully set forth below, Buyer desires to purchase from Seller, and Seller desires to sell to Buyer, all of the Shares; 

 

NOW THEREFORE, in consideration of the promises, mutual covenants, representations, warranties and agreements hereinafter set forth, the parties hereto mutually covenant and agree as follows:

 

ARTICLE I - PURCHASE AND SALE OF STOCK

 

1.1PURCHASE AND SALE OF STOCK. Subject to the terms and conditions of this Agreement, Seller shall sell, convey, transfer, and deliver to Buyer at the Closing all of the Shares. The closing shall be held upon the completion of (i) a formal Calculation Valuation and Appraisal Report and (ii) two years of audited financial statements audited by a Public Company Accounting Oversight Board registered and approved audit firm. The closing will be held at a mutually agreed upon location within the United States of America. 

 

1.2Purchase Price.Subject to the terms and conditions specified in this Agreement, Buyer shall purchase the Shares at Closing by paying a purchase price of 40,000,000 (Forty Million) shares of Buyer’s common stock (Ticker Symbol: OLMM) (“Stock”), and US$500,000 (Five Hundred Thousand United States Dollars).  

 

1.3Payment of Purchase Price. Payment of the purchase price shall be made as follows: 

 

a.The delivery of US$500,000 (Five Hundred Thousand United Stated Dollars) cash which will be deposited into Buyer’s escrow account 10 days prior to the Closing Date; and 

 

b.40,000,000 (Forty Million) shares of Buyer’s common stock. All Stock transferred to Seller shall consist of post reverse-split common Shares. The Stock shall be delivered to Seller by issuing the Stock at closing and shall be duly registered. All Stock certificates shall record a restrictive ledger reflecting the respective restriction identified herein and shall be "free trading" shares after an initial twelve (12) month restriction period. 

 

1.4 Employment agreements. Buyer and Seller will approve and execute employment agreements for the current management and employees of Yinuo listed in Exhibit A prior to the Closing. 

 

ARTICLE II - REPRESENTATIONS AND WARRANTIES

 

2.1Representations and Warranties of Seller. Seller represents and warrants to Buyer as follows: 

 

(a)Organization in Good Standing. Yinuo is a corporation incorporated pursuant to, and currently in good standing under, the laws of China.  

 

(b)Authorization. The Seller warrants: 

 

i) That he is free to sell his Shares and is not subject to any shareholder agreement, or other document that would prevent him from selling his shares to the Buyer. 

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ii)That the sale of Shares does not conflict with the provision of any charter document or by-law of Yinuo. 

 

iii)That the Shares owned by Seller are duly issued, fully paid and non-assessable and are beneficially owned by the Seller. The Seller also warrants that the Shares he owns are free and clear of all liens, charges, burdens and encumbrances. 

 

iv) The execution, delivery and performance by the Seller of this Agreement and the documents contemplated hereby and the consummation by Seller of the transactions contemplated hereby and thereby: 

 

(1)Do not violate any law, regulation, order, judgment or decree by which Seller is bound; and 

 

(2)Will not result in the creation of any lien, charge or encumbrance upon Yinuo. 

 

(c)Consents. No consent or approval of, or other action by, any governmental body or agency is required in connection with the execution, delivery and performance by Seller of this Agreement or the transactions contemplated hereby, except such as shall duly have been obtained or taken on or before the Closing Date. 

 

(d)Binding Obligation. This Agreement and the documents contemplated hereby evidence the legal, valid and binding obligations of Seller, enforceable in accordance with their terms. 

 

(e)Title.Seller is the lawful owner of the Shares free and clear of any and all liens, pledges, conditional sales, options, or other title retention agreements, charges, restrictions and encumbrances of every kind and nature whatsoever (collectively, “Encumbrances”). 

 

(f) Intellectual Property. The Seller represents that all Intellectual Property listed on Exhibit B, including web site domains, URLs, patents, patent pending applications, copyrights, trademarks, any other intellectual property of any kind, all claims for infringement, and all other assets and licenses of any kind owned by Seller relating to Yinuo are a part of this Agreement. 

 

(g)Liabilities. The Buyer acknowledges that Yinuo is subject to certain liabilities. Said liabilities are identified on Exhibit C attached hereto. Buyer further acknowledges and agrees to purchase the Seller’s Stock subject to said liabilities and will assume the responsibility for satisfying said liabilities.  

 

2.2Representations and Warranties of Buyer. Buyer represents and warrants to Seller as follows: 

 

(a)Organization in Good Standing. Buyer is a corporation duly organized pursuant to, and in good standing of Nevada, USA. Buyer has full corporate power to conduct its current and currently contemplated business and to enter into this Agreement.  

 

(b)Authorization. The execution, delivery and performance by Buyer of this Agreement, the Stock, and the documents contemplated hereby and the consummation of the transactions contemplated hereby: 

 

(i)have been duly authorized and approved by the Board of Directors of Buyer; 

 

(ii)do not conflict with any provision of any charter document or by-law of Buyer; and 

 

(iii)do not violate any law, regulation, order, judgment or decree by which Buyer is bound. 

 

(c)Consents.No consent or approval of, or other action by, any governmental body or agency is required in connection with the execution, delivery and performance by Buyer of this Agreement or the transactions contemplated hereby, except such as shall have been duly obtained or taken on or before the Closing Date. 

 

(d)Binding Obligation. This Agreement and the other documents contemplated hereby evidence the legal, valid and binding obligations of Buyer, enforceable in accordance with their terms. 

 

ARTICLE III- CONDITIONS PRECEDENT TO CLOSING

 

3.1Conditions to Obligations of Buyer. The obligations of Buyer to complete the transactions provided for herein are subject to the satisfaction of or written waiver by Buyer of the following conditions: 

 

(a)All of the representations and warranties of Seller in this Agreement shall be true and correct on and as of the Closing Date; 

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(b)All the terms, covenants and conditions of this Agreement to be complied with or performed by Seller on or before the Closing Date shall have been duly complied with and performed; 

 

(c)Seller shall have delivered to the Buyer at the Closing the appropriate instruments of transfer, conveyance, sale and assignment of the Shares; 

 

(d)Seller shall have delivered to the Buyer a certificate, dated as of the Closing Date, confirming the matters set forth in Sections 3.1(a) and 3.1(b) hereof ; 

  

3.2Conditions to the Obligations of the Seller.The obligations of the Seller to complete the transactions provided for herein are subject to the satisfaction or written waiver by the Seller of the following conditions: 

 

(a)All of the representations and warranties of Buyer in this Agreement shall be true and correct as of the Closing Date; 

 

(b)All the terms, covenants and conditions of this Agreement to be complied with or performed by Buyer on or before the Closing Date shall have been duly complied with and performed; 

 

(c)Buyer shall have delivered to the Seller a certificate of one of its executive officers dated as of the Closing Date, confirming the matters set forth in Sections 3.2(a) and 3.2(b) hereof; 

 

(d)Buyer shall have delivered to the Seller a certificate of Buyer’s Secretary as to: 

 

(i)Resolutions adopted by the Board of Directors of Buyer authorizing the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby; and; 

 

(ii)Incumbency of the officers of Buyer authorized to execute and deliver this Agreement and the other documents contemplated hereby; 

 

(e)There shall not be pending or threatened any governmental action or any proceeding by or before any court or governmental body or agency which seeks to restrain, prohibit or invalidate the transactions contemplated by this Agreement. 

 

(f) Buyer shall have delivered to the Seller at the Closing the Stock certificate duly registered for the Shares of OLMM;

 

(g) Buyer shall release the cash included in the Purchase Price of US$500,000.00 (Five Hundred Thousand US Dollars) from the Buyer’s escrow account on the Closing Date into Seller’s designated account. 

 

ARTICLE IV - ACTIONS AT CLOSING

 

4.1Closing.Subject to the terms and conditions of this Agreement, the transactions contemplated hereby shall take place as specified in Section 1.1, or at such other time, date and/or place as Buyer and Seller may agree upon in writing. The date and time at which said Closing is required to take place under this Agreement is herein referred to as the “Closing” or the “Closing Date.”  

 

ARTICLE V - POST CLOSING MATTERS

 

5.1Covenant of Further Assurances.Seller and Yinuo shall, from time to time upon the request of Buyer, execute, acknowledge, seal and deliver all such instruments and documents, and do all such further things, as Buyer may reasonably request to perfect the transfer and delivery to Buyer of the Shares that are to be sold, transferred and assigned to Buyer under this Agreement. 

 

5.2Transition Cooperation.For a reasonable period of time after the Closing Date, the parties agree to cooperate, each with the other, to transfer and convey the Shares on the terms herein contained and to consummate the transaction in a manner that provides an uninterrupted transition of ownership. 

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5.3Nondisclosure.Each of the parties hereto hereby acknowledges that, during the course of negotiations for this Agreement, it has been exposed to, and upon the Closing Date, may continue to be exposed to certain information and data about the other party's sensitive information, including but not limited to intellectual property, customer lists, profit/loss statements, and assets and liabilities (hereinafter "Confidential Information"). The parties agree that they will not disclose any such Confidential Information to any third party and shall instruct their outside consultants, including, but not limited to, their accountants and attorneys, to refrain from disclosing the same; provided, however, that the provisions of this Section 5.3 shall not apply to any Confidential Information that is (1) already known to the receiving party at the time of receipt, (2) made public or otherwise made available without restriction by the party to which it pertains (or by sources related to that party), (3) is or becomes a matter of public knowledge through no fault of any part hereto, or (4) is required to be disclosed under applicable law, provided that reasonable measures are taken to ensure that any required disclosure is limited and that the other party is given such notice as is reasonably practicable of any required disclosure. 

 

5.4Books and Records.Prior to the Closing of this Agreement, Seller shall afford Buyer and their authorized representative(s) full access during normal business hours to examine Yinuo’s books and records as related to the operation of Yinuo prior to the Closing. 

 

5.5 Board of Directors. The Parties agree that, from and after the Closing of this Agreement, the Yinuo Board of Directors shall consist of three Board Members, two (2) of which will be held by the Buyer. At the same time, Fang Sun will also be appointed to the Board of Directors of the Buyer (OLMM).

 

5.6 Public Entity/Working Capital. The Parties mutually agree that the Buyer will vend, transfer, or sell Yinuo into OLMM on the Closing date. Buyer agrees that it shall invest up to US$3,000,000 (Three Million United States Dollars) of working capital into the Yinuo operating account over a 6 month period following the Closing. Said $3,000,000 investment is not part of, and shall in no way be considered part of, the Purchase Price for Seller’s Stock 

 

5.7 Signing of Agreement,Each page of this Agreement shall be initialed by Buyer and Seller in the lower right hand portion and the Signature page shall be signed by both the Buyer, Seller and Yinuo. The parties may execute this document counter-parts and facsimile copies of a party's signature shall be effective as if it were the original signature. 

 

ARTICLE VI – MISCELLANEOUS

 

6.0Survival of Representations and Warranties. All representations and warranties contained in this Agreement shall survive the Closing and shall continue in full force and effect for a period of two years following the Closing Date. 

 

6.1Amendment/Waiver. This Agreement may not be amended, modified or supplemented, and any obligation hereunder may not be waived, unless a written instrument consenting to such amendment, modification or waiver is executed by both parties hereto. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate as a waiver of any subsequent breach. 

 

6.2Failure to Exercise Rights.No failure on the part of any party to exercise, and no delay in exercising, any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or remedy by such party preclude any other or further exercise thereof or the exercise of any other right or remedy. All rights and remedies hereunder are cumulative and are not exclusive of any other rights and remedies provided by law. 

 

6.4Assignment. Neither Buyer nor Seller may assign or transfer any rights or obligations under this Agreement. 

 

6.5Notice. All notices, requests, demands and other communications which are required or may be given under this Agreement shall be in writing and shall be deemed to have been duly given if delivered personally, via regular mail, via express mail, via e-mail or via facsimile as follows: 

 

If to Seller &Yinuo Technologies LTD 

Yinuo:Attn: Fang Sun
Room 409-410, Building A, Peng Nian University City Science Park
1213 Liu Xian Avenue, Nanshan District, Shenzhen, Guangdong, China
Phone: (+86)139-1130-9434
Fax:  

Email: sunfang@yinuocare.com

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If to Buyer:OneLife Technologies Corporation 

Attn: Robert J. Wagner,

5005 Newport Drive

Rolling Meadows, IL 60008, USA
Voice: 630-699-1145
Fax: 630-566-3440

Email: rjwagner@onelifetc.com

 

or to such other address as either party shall specify in writing.

 

6.6Public Disclosure. The parties will consult with respect to the appropriate public disclosure to be made with respect to the transactions contemplated hereby, and will make no such disclosure prior to such consultation, except as may be required by law or rules of applicable stock exchanges. 

 

6.7Miscellaneous. This Agreement (including all exhibits) constitutes the entire agreement between the parties hereto and supersedes all prior agreements and understandings, whether written or oral, between the parties in connection with said subject matter. Except as expressly set forth in this Agreement, Sellers make no other representations, warranties or covenants, express or implied, all of which are hereby disclaimed. This Agreement shall inure to the benefit of, and be binding upon, the parties hereto and their respective legal representatives, successors and assigns. No third party is a beneficiary of this Agreement, and no rights or causes or action shall accrue to any third party from the terms of this Agreement. This Agreement is entered into, and shall be governed by and construed according to the laws of the State of Illinois, USA. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition; however, such unenforceability shall not invalidate the remaining provisions of this Agreement, or affect the validity or enforceability of such provision in any other jurisdiction. All Exhibits mentioned in this Agreement shall be attached to this Agreement, and shall form an integral part hereof at closing. All capitalized terms defined in this Agreement which are used in any Exhibit shall, unless the context otherwise requires, have the same meaning therein as given herein. This Agreement has been executed and delivered in and shall be deemed to have been made in Chicago, Illinois, USA. Seller and Buyer each agree to the exclusive jurisdiction of any court of competent jurisdiction located within Cook County, Illinois, USA, with respect to any claim or cause of action arising under or relating to: this Agreement; the transactions contemplated hereby or the other documents and instruments executed and delivered in connection herewith; and waive personal service of any and all process upon it, and consents that all services of process be made by registered mail, directed to it at its address as set forth in Section 6.6, and services so made shall be deemed to be completed when received. Seller and Buyer hereby submit to the personal jurisdiction of any such court, and each waive any objection based upon forum non conveniens and waive any objection to venue of any action instituted hereunder in a court located in Cook County, Illinois, USA. Nothing in this paragraph shall affect the right to serve legal process in any other manner permitted by law. 

 

IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Agreement as an agreement under seal as of the date first above written.

 

Buyer:Seller:  

  

By: /s/ Robert J Wagner By: /s/ Fang Sun 

Name:Robert J. Wagner Name: Fang Sun 

Title: President & CEO Title: Individual 

  

Yinuo:

  

By: /s/ Fang Sun 

Name:Fang Sun  

Title:President & CEO 

  

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Exhibit A

Management and Employee Employment Agreements

 

Sun, Fang, CEO 

Yin, Jinghua, Director, Project Management

Zhu, Lingyan, Director of Business Management & Administration

Wang, Zhiqiang, Director of R&D 

Xiao, Hua, Director of Production & Supply Chain Management

Zhang, Ruilin, Director of Medical Product Development

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Exhibit B

Intellectual Property – including Patents, Patents Pending, Copyrights and Trademarks

 

Invention Patents (two patents in publicity): “A Method of Sensor Watch For Remote Acquisition And Monitoring Of Physiological Signs And States”. 

 

Appearance Patents (two): “ID Design For A Sensor Watch”. No.: ZL.2014.3.0050904.6 

 

Trademark. 

 

Multiple Copyrights (mobile medicare cloud server system and etc.). 

 

Multiple Copyrights (mobile medicare APPs for android and iOS system, and etc.).  

 

Certification (On Products): 

 

 CTA (China Ministry of Information and Industry). 

 

3C ( China). 

 

FCC, CE (international market).  

 

Hi-tech Software Enterprises.  

 

Permit For Sales Of Medical Devices (Chinese FDA). 

 

Entitled with “National High-Tech Enterprises”. 

 

“High Tech Enterprises” By the City of Shenzhen. 

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Exhibit C

Liabilities

 

Convertible debts of RMB3,000,000.00 (Three Millions in Chinese Currency) with 12% interest per annum for a two-year term. It will be matured by the end of July, 2018 to pay off the principal and the interest of the second year. 

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 Exhibit 4.2 

ARMO BIOSCIENCES, INC. 

AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT 

August 11, 2017 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	Page	 
	 1.
	 	 Definitions
	  	 	1	 
			
	 2.
	 	 Registration Rights
	  	 	3	 
		 	 2.1
	 	 Request for Registration
	  	 	3	 
		 	 2.2
	 	 Company Registration
	  	 	5	 
		 	 2.3
	 	 Form S-3 Registration
	  	 	6	 
		 	 2.4
	 	 Obligations of the Company
	  	 	7	 
		 	 2.5
	 	 Information from Holder
	  	 	9	 
		 	 2.6
	 	 Expenses of Registration
	  	 	9	 
		 	 2.7
	 	 Delay of Registration
	  	 	10	 
		 	 2.8
	 	 Indemnification
	  	 	10	 
		 	 2.9
	 	 Reports Under the 1934 Act
	  	 	12	 
		 	 2.10
	 	 Assignment of Registration Rights
	  	 	12	 
		 	 2.11
	 	 Limitations on Subsequent Registration Rights
	  	 	13	 
		 	 2.12
	 	 “Market Stand-Off” Agreement
	  	 	13	 
		 	 2.13
	 	 Termination of Registration Rights
	  	 	14	 
			
	 3.
	 	 Covenants of the Company
	  	 	14	 
		 	 3.1
	 	 Delivery of Financial Statements
	  	 	14	 
		 	 3.2
	 	 Inspection
	  	 	15	 
		 	 3.3
	 	 Termination of Information and Inspection Covenants
	  	 	16	 
		 	 3.4
	 	 Right of First Offer
	  	 	16	 
		 	 3.5
	 	 Directors’ and Officers’ Insurance
	  	 	17	 
		 	 3.6
	 	 Observer Rights
	  	 	18	 
		 	 3.7
	 	 Proprietary Information and Inventions Agreements
	  	 	19	 
		 	 3.8
	 	 Employee Agreements
	  	 	20	 
		 	 3.9
	 	 Indemnification Matters
	  	 	20	 
		 	 3.10
	 	 Confidentiality
	  	 	20	 
		 	 3.11
	 	 Termination of Certain Covenants
	  	 	21	 
			
	 4.
	 	 Miscellaneous
	  	 	21	 
		 	 4.1
	 	 Successors and Assigns
	  	 	21	 
		 	 4.2
	 	 Governing Law
	  	 	21	 
		 	 4.3
	 	 Counterparts; Facsimile
	  	 	21	 
		 	 4.4
	 	 Titles and Subtitles
	  	 	21	 
		 	 4.5
	 	 Notices
	  	 	21	 
		 	 4.6
	 	 Expenses
	  	 	22	 
		 	 4.7
	 	 Entire Agreement
	  	 	22	 
		 	 4.8
	 	 Amendments
	  	 	22	 
		 	 4.9
	 	 Severability
	  	 	23	 
		 	 4.10
	 	 Aggregation of Stock
	  	 	23	 
		 	 4.11
	 	 Additional Investors
	  	 	23	 
			
	 SCHEDULE A
	 	 Schedule of Investors
	  			

  
 i 

 AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

This AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (the “Agreement”) is made as of the 11th day of August, 2017, by
and among ARMO BIOSCIENCES, INC., a Delaware corporation (the “Company”), and the investors listed on Schedule A hereto, each of which is herein referred to as an “Investor” and collectively as the
“Investors. 
 RECITALS 

WHEREAS, certain of the Investors (the “Existing Investors”) hold shares of the Company’s Series A Preferred
Stock (the “Series A Preferred Stock”), Series A-1 Preferred Stock (the “Series A-1 Preferred
Stock”), Series B Preferred Stock (the “Series B Preferred Stock”), Series B-1 Preferred Stock (the “Series B-1 Preferred
Stock”) and/or Series C Preferred Stock (the “Series C Preferred Stock”) and possess registration rights, information rights, rights of first offer and other rights pursuant to an Amended and Restated Investors’ Rights
Agreement dated as of November 5, 2015, by and among the Company and such Existing Investors (the “Prior Agreement”); 

WHEREAS, the Prior Agreement may be amended, and any provision therein waived, with the consent of the Company and the Investors
holding a majority of the Registrable Securities (as such terms are defined in the Prior Agreement); 
 WHEREAS, the Existing
Investors, as the holders of a majority of the Registrable Securities desire to terminate the Prior Agreement and to accept the rights created pursuant hereto in lieu of the rights granted to them under the Prior Agreement; 

WHEREAS, the Company and certain of the Investors are parties to that certain Series C-1
Preferred Stock Purchase Agreement of even date herewith (the “Series C-1 Agreement”); and 

WHEREAS, in order to induce certain of the Investors to purchase Series C-1 Preferred
Stock, par value $0.0001 per share (the “Series C-1 Preferred Stock” and, collectively with the Series A Preferred Stock, the Series A-1 Preferred
Stock, the Series B Preferred Stock, the Series B-1 Preferred Stock and the Series C Preferred Stock, the “Preferred Stock”), and invest funds in the Company pursuant to the Series C-1 Agreement, the Investors and the Company hereby agree that this Agreement shall govern the rights of the Investors to cause the Company to register shares of Common Stock, par value $0.0001 per share
(the “Common Stock”), issued or issuable to them and certain other matters as set forth herein. 
 NOW, THEREFORE,
in consideration of the mutual promises and covenants set forth herein, the parties hereby agree that the Prior Agreement shall be superseded and replaced in its entirety by this Agreement, and the parties hereto further agree as follows: 

1.    Definitions. For purposes of this Agreement: 

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

 (b)    The term “Affiliate” means, with respect to any
Person, any other Person who or which, directly or indirectly, controls, is controlled by, or is under common control with such specified Person, including, without limitation, any general partner, officer, director or manager of such Person and any
venture capital fund now or hereafter existing that is controlled by one or more general partners or managing members of, or is under common investment management with, such Person. 

(c)    The term “Board” means the Company’s Board of Directors, as constituted from time to time.

 (d)    The term “Form S-3” means
such form under the Act as in effect on the date hereof or any registration form under the Act subsequently adopted by the SEC that permits inclusion or incorporation of substantial information by reference to other documents filed by the Company
with the SEC. 
 (e)    The term “Free Writing Prospectus” means a free-writing prospectus, as defined
in Rule 405. 
 (f)    The term “Holder” means any Person owning or having the right to acquire
Registrable Securities or any assignee thereof in accordance with Section 2.10 of this Agreement. 
 (g)    The
term “Initial Offering” means the Company’s first firm commitment underwritten public offering of its Common Stock under the Act. 

(h)    The term “Liquidation Event” shall have the meaning given to such term in the Restated
Certificate. 
 (i)    The term “1934 Act” means the Securities Exchange Act of 1934, as amended. 

(j)    The term “Person” shall mean any individual, corporation, partnership, trust, limited liability
company, association or other entity. 
 (k)    The term “Qualified Public Offering” shall have the
meaning given to such term in the Restated Certificate. 
 (l)    The terms “register,”
“registered” and “registration” refer to a registration effected by preparing and filing a registration statement or similar document in compliance with the Act, and the declaration or ordering of effectiveness of
such registration statement or document. 
 (m)    The term “Registrable Securities” means (i) the
Common Stock issuable or issued upon conversion of the Preferred Stock, and (ii) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security that is issued as) a dividend or
other distribution with respect to, or in exchange for, or in replacement of, the shares referenced in (i) above, excluding in all cases, however, any Registrable Securities sold by a Person in a transaction in which his rights under
Section 2 of this Agreement are not 

  
 2 

 
assigned. In addition, the number of shares of Registrable Securities outstanding shall equal the aggregate of the number of shares of Common Stock outstanding that are, and the number of shares
of Common Stock issuable pursuant to then exercisable or convertible securities that are, Registrable Securities. 

(n)    The term “Restated Certificate” shall mean the Company’s Amended and Restated Certificate of
Incorporation, as amended and/or restated from time to time. 
 (o)    The term “Rule 144” shall mean
Rule 144 under the Act. 
 (p)    The term “Rule 144(b)(1)(i)” shall mean subsection (b)(1)(i) of Rule
144 under the Act as it applies to Persons who have held shares for more than one (1) year. 
 (q)    The term
“Rule 405” shall mean Rule 405 under the Act. 
 (r)    The term “SEC” shall mean the
Securities and Exchange Commission. 
 2.    Registration Rights. The Company covenants and agrees as follows:

 2.1    Request for Registration. 

(a)    Subject to the conditions of this Section 2.1, if the Company shall receive at any time after the earlier of
(i) four (4) years after the date of this Agreement or (ii) six (6) months after the effective date of the Initial Offering, a written request from the Holders of at least fifty percent (50%) of the Registrable Securities then
outstanding (for purposes of this Section 2.1, the “Initiating Holders”) that the Company file a registration statement under the Act covering the registration of Registrable Securities with an anticipated aggregate offering
price of at least $5,000,000, then the Company shall, within twenty (20) days of the receipt thereof, give written notice of such request to all Holders, and subject to the limitations of this Section 2.1, use its commercially reasonable
efforts to effect, as soon as practicable, the registration under the Act of all Registrable Securities that the Holders request to be registered in a written request received by the Company within twenty (20) days of the mailing of the
Company’s notice pursuant to this Section 2.1(a). 
 (b)    If the Initiating Holders intend
to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to this Section 2.1, and the Company shall include such information in the
written notice referred to in Section 2.1(a). In such event the right of any Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of
such Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by a majority in interest of the Initiating Holders and such Holder) to the extent provided herein. All Holders proposing to distribute their securities
through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by the Company (which underwriter or underwriters shall be reasonably acceptable to those
Initiating Holders holding a majority of the Registrable Securities then held by all Initiating Holders). Notwithstanding any other provision of this Section 2.1, if the underwriter advises the Company that marketing factors require a
limitation on the number of securities underwritten 

  
 3 

 
(including, without limitation, Registrable Securities), then the Company shall so advise all Holders of Registrable Securities that would otherwise be underwritten pursuant hereto, and the
number of shares that may be included in the underwriting shall be allocated to the Holders of such Registrable Securities pro rata based on the number of Registrable Securities held by all such Holders (including, without limitation, the Initiating
Holders). In no event shall any Registrable Securities be excluded from such underwriting unless all other securities are first excluded. Any Registrable Securities excluded or withdrawn from such underwriting shall be withdrawn from the
registration. 
 (c)    Notwithstanding the foregoing, the Company shall not be required to effect a registration
pursuant to this Section 2.1: 
 (i)    in any particular jurisdiction in which the Company would be required to
execute a general consent to service of process in effecting such registration, unless the Company is already subject to service in such jurisdiction and except as may be required under the Act; or 

(ii)    after the Company has effected two (2) registrations pursuant to this Section 2.1, and such
registrations have been declared or ordered effective; or 
 (iii)    during the period starting with the date
sixty (60) days prior to the Company’s good faith estimate of the date of the filing of and ending on a date one hundred eighty (180) days following the effective date of a Company-initiated
registration subject to Section 2.2 below, provided that the Company is actively employing in good faith its commercially reasonable efforts to cause such registration statement to become effective; or 

(iv)    if the Initiating Holders propose to dispose of Registrable Securities that may be registered on Form S-3 pursuant to Section 2.3 hereof; or 
 (v)    if the Company shall
furnish to Holders requesting a registration statement pursuant to this Section 2.1 a certificate signed by the Company’s Chief Executive Officer or Chairman of the Board of Directors stating that in the good faith judgment of the Board,
it would be seriously detrimental to the Company and its stockholders for such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than ninety
(90) days after receipt of the request of the Initiating Holders; provided that such right shall be exercised by the Company not more than once in any twelve (12) month period; and provided further that the Company shall not register any
securities for the account of itself or any other stockholder during such ninety (90) day period (other than a registration relating solely to the sale of securities of participants in a Company stock plan, a registration relating to a
corporate reorganization or transaction under Rule 145 of the Act, a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the
Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered). 

  
 4 

 2.2    Company Registration. 

(a)    If (but without any obligation to do so) the Company proposes to register (including for this purpose a
registration effected by the Company for stockholders other than the Holders) any of its stock or other securities under the Act in connection with the public offering of such securities (other than (i) a registration relating to a demand
pursuant to Section 2.1 of this Agreement or (ii) a registration relating solely to the sale of securities of participants in a Company stock plan, a registration relating to a corporate reorganization or transaction under Rule 145 of
the Act, a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities, or a registration in which the only Common
Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered), the Company shall, at such time, promptly give each Holder written notice of such registration. Upon the written request of each
Holder given within twenty (20) days after mailing of such notice by the Company in accordance with Section 4.5 of this Agreement, the Company shall, subject to the provisions of Section 2.2(c) of this Agreement, use its commercially
reasonable efforts to cause to be registered under the Act all of the Registrable Securities that each such Holder requests to be registered. 

(b)    Right to Terminate Registration. The Company shall have the right to terminate or withdraw any registration
initiated by it under this Section 1.3 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration. The expenses of such withdrawn registration shall be borne by the Company
in accordance with Section 2.6 hereof. 
 (c)    Underwriting Requirements. In connection with any offering
involving an underwriting of shares of the Company’s capital stock, the Company shall not be required under this Section 2.2 to include any of the Holders’ securities in such underwriting unless they accept the terms of the
underwriting as agreed upon between the Company and the underwriters selected by the Company (or by other Persons entitled to select the underwriters) and enter into an underwriting agreement in customary form with such underwriters, and then only
in such quantity as the underwriters determine in their sole discretion will not jeopardize the success of the offering by the Company. If the total amount of securities, including, without limitation, Registrable Securities, requested by
stockholders to be included in such offering exceeds the amount of securities sold other than by the Company that the underwriters determine in their sole discretion is compatible with the success of the offering, then the Company shall be required
to include in the offering only that number of such securities, including, without limitation, Registrable Securities, that the underwriters determine in their sole discretion will not jeopardize the success of the offering. In the event that the
underwriters determine that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be apportioned pro rata among the selling
Holders based on the number of Registrable Securities held by all selling Holders or in such other proportions as shall mutually be agreed to by all such selling Holders. Notwithstanding the foregoing, in no event shall (i) any Registrable
Securities be excluded from such offering unless all other stockholders’ securities have been first excluded from the offering and (ii) the amount of securities of the selling Holders included in the offering be reduced below twenty-five
percent (25%) of the total amount of securities included in such offering, unless such 

  
 5 

 
offering is the Initial Offering, in which case the selling Holders may be excluded if the underwriters make the determination described above and no other stockholder’s securities are
included in such offering. For purposes of the preceding sentence concerning apportionment, for any selling stockholder that is a Holder of Registrable Securities and that is a venture capital fund, partnership or corporation, the affiliated venture
capital funds, partners, members, retired partners and stockholders of such Holder, or the estates and family members of any such partners, members and retired partners and any trusts for the benefit of any of the foregoing Persons shall be deemed
to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate amount of Registrable Securities owned by all such related entities and individuals. 

2.3    Form S-3 Registration. In case the Company shall receive from
the Holders of Registrable Securities (for purposes of this Section 2.3, the “S-3 Initiating Holders”) a written request or requests that the Company effect a registration on Form S-3 and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company shall: 

(a)    promptly give written notice of the proposed registration, and any related qualification or compliance, to all
other Holders; and 
 (b)    use its commercially reasonable efforts to effect, as soon as practicable, such
registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holders’ Registrable Securities as are specified in such request,
together with all or such portion of the Registrable Securities of any other Holders joining in such request as are specified in a written request given within fifteen (15) days after receipt of such written notice from the Company; provided,
however, that the Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to this Section 2.3: 

(i)    if Form S-3 is not available for such offering by the Holders; 

(ii)    if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such
registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public (net of any underwriters’ discounts or commissions) of less than $5,000,000; 

(iii)    if the Company shall furnish to all Holders requesting a registration statement pursuant to this
Section 2.3 a certificate signed by the Company’s Chief Executive Officer or Chairman of the Board of Directors stating that in the good faith judgment of the Board, it would be seriously detrimental to the Company and its stockholders for
such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of the request of the
S-3 Initiating Holders; provided that such right shall be exercised by the Company not more than once in any twelve (12) month period; and provided further that the Company shall not register any
securities for the account of itself or any other stockholder during such ninety (90) day period (other than a registration relating solely to the sale of securities of 

  
 6 

 
participants in a Company stock plan, a registration relating to a corporate reorganization or transaction under Rule 145 of the Act, a registration on any form that does not include
substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon
conversion of debt securities that are also being registered); 
 (iv)    if the Company has, within the twelve
(12) month period preceding the date of such request, already effected two (2) registrations on Form S-3 pursuant to this Section 2.3; or 

(v)    in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a
general consent to service of process in effecting such registration, qualification or compliance; or 
 (vi)    if the
Company, within thirty (30) days of receipt of the request of such S-3 Initiating Holders, gives notice of its bona fide intention to effect the filing of a registration statement with the SEC within one
hundred twenty (120) days of receipt of such request (other than a registration effected solely to qualify an employee benefit plan or to effect a business combination pursuant to Rule 145), provided that the Company is actively employing in
good faith its commercially reasonable efforts to cause such registration statement to become effective; or 

(vii)    during the period starting with the date thirty (30) days prior to the Company’s good faith estimate
of the date of the filing of and ending on a date ninety (90) days following the effective date of a Company-initiated registration subject to Section 2.2 of this Agreement, provided that the Company
is actively employing in good faith its commercially reasonable efforts to cause such registration statement to become effective. 

(c)    If the S-3 Initiating Holders intend to distribute the Registrable
Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to this Section 2.3 and the Company shall include such information in the written notice referred to in
Section 2.3(a). The provisions of Section 2.1(b) of this Agreement shall be applicable to such request (with the substitution of Section 2.3 for references to Section 2.1). 

(d)    Subject to the foregoing, the Company shall file a registration statement covering the Registrable Securities and
other securities so requested to be registered as soon as practicable after receipt of the request or requests of the S-3 Initiating Holders. Registrations effected pursuant to this Section 2.3 shall not
be counted as requests for registration effected pursuant to Section 2.1 of this Agreement. 

2.4    Obligations of the Company. Whenever required under this Section 2 to effect the registration of any
Registrable Securities, the Company shall, as expeditiously as reasonably possible: 
 (a)    prepare and file with the
SEC a registration statement with respect to such Registrable Securities and use its commercially reasonable efforts to cause such 

  
 7 

 
registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep such registration statement effective for
a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the Registration Statement has been completed; 

(b)    prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus
used in connection with such registration statement as may be necessary to comply with the provisions of the Act with respect to the disposition of all securities covered by such registration statement; 

(c)    furnish to the Holders such number of copies of a prospectus, including a preliminary prospectus and any Free
Writing Prospectus, in conformity with the requirements of the Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them; 

(d)    use its commercially reasonable efforts to register and qualify the securities covered by such registration
statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business
or to file a general consent to service of process in any such states or jurisdictions; 
 (e)    in the event of any
underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering; 

(f)    notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus
or Free Writing Prospectus (to the extent prepared by or on behalf of the Company) relating thereto is required to be delivered under the Act of the happening of any event as a result of which the prospectus included in such registration statement,
as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, and, at
the request of any such Holder, the Company will, as soon as reasonably practicable, file and furnish to all such Holders a supplement or amendment to such prospectus or Free Writing Prospectus (to the extent prepared by or on behalf of the Company)
so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading in light of
the circumstances under which they were made; 
 (g)    cause all such Registrable Securities registered pursuant to
this Section 2 to be listed on a national exchange or trading system and on each securities exchange and trading system on which similar securities issued by the Company are then listed; and 

(h)    provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and a
CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration. 

  
 8 

 Notwithstanding the provisions of this Section 2, the Company shall be entitled to postpone
or suspend, for a reasonable period of time, the filing, effectiveness or use of, or trading under, any registration statement if the Company shall determine that any such filing or the sale of any securities pursuant to such registration statement
would in the good faith judgment of the Board: 
 (i)    materially impede, delay or interfere with any material
pending or proposed financing, acquisition, corporate reorganization or other similar transaction involving the Company for which the Board has authorized negotiations; 

(ii)    materially and adversely impair the consummation of any pending or proposed material offering or sale of any
class of securities by the Company; or 
 (iii)    require disclosure of material nonpublic information that, if
disclosed at such time, would be materially harmful to the interests of the Company and its stockholders; provided, however, that during any such period all executive officers and directors of the Company are also prohibited from selling securities
of the Company (or any security of any of the Company’s subsidiaries or affiliates). 
 In the event of the suspension of effectiveness
of any registration statement pursuant to this Section 2.4, the applicable time period during which such registration statement is to remain effective shall be extended by that number of days equal to the number of days the effectiveness of
such registration statement was suspended. 
 2.5    Information from Holder. It shall be a condition precedent
to the obligations of the Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable
Securities held by it, and the intended method of disposition of such securities as shall be reasonably required to effect the registration of such Holder’s Registrable Securities. 

2.6    Expenses of Registration. All expenses other than underwriting discounts and commissions incurred in
connection with registrations, filings or qualifications pursuant to Sections 2.1, 2.2 and 2.3 of this Agreement, including, without limitation, all registration, filing and qualification fees, printers’ and accounting fees, fees and
disbursements of counsel for the Company and the reasonable fees and disbursements of one counsel for the selling Holders (not to exceed $35,000) shall be borne by the Company. Notwithstanding the foregoing, the Company shall not be required to pay
for any expenses of any registration proceeding begun pursuant to Section 2.1 or Section 2.3 of this Agreement if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities
to be registered (in which case all participating Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration) unless, in the case of a registration requested under
Section 2.1 or Section 2.3 of this Agreement, the Holders of a majority of the Registrable Securities agree to forfeit their right to one demand registration pursuant to Section 2.1 or Section 2.3, respectively, of this Agreement
and; provided, however, that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business or prospects of the Company from that known to the Holders at

  
 9 

 
the time of their request and have withdrawn the request with reasonable promptness following disclosure by the Company of such material adverse change, then the Holders shall not be required to
pay any of such expenses and shall retain their rights pursuant to Sections 2.1 and 2.3 of this Agreement. 

2.7    Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or
otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

2.8    Indemnification. In the event any Registrable Securities are included in a registration statement under this
Section 2: 
 (a)    To the extent permitted by law, the Company will indemnify and hold harmless each Holder, the
partners, members, officers, directors and stockholders of each Holder, legal counsel and accountants for each Holder, any underwriter (as defined in the Act) for such Holder and each Person, if any, who controls such Holder or underwriter within
the meaning of the Act or the 1934 Act, against any losses, claims, damages or liabilities (joint or several) to which they may become subject under the Act, the 1934 Act, any state securities laws or any rule or regulation promulgated under the
Act, the 1934 Act or any state securities laws, insofar as such losses, claims, damages, or liabilities (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon any of the following statements,
omissions or violations (collectively, a “Violation”): (i) any untrue or alleged untrue statement of a material fact contained in such registration statement, including any preliminary prospectus, final prospectus, or Free
Writing Prospectus contained therein or any amendments or supplements thereto, any issuer information (as defined in Rule 433 of the Act) filed or required to be filed pursuant to Rule 433(d) under the Act or any other document incident to such
registration prepared by or on behalf of the Company or used or referred to by the Company, (ii) the omission or alleged omission of a material fact required to be stated in such registration statement, or necessary to make the statements
therein not misleading or (iii) any violation or alleged violation by the Company of the Act, the 1934 Act, any state securities laws or any rule or regulation promulgated under the Act, the 1934 Act or any state securities laws, and the
Company will reimburse each such Holder, underwriter, controlling Person or other aforementioned Person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage,
liability, action or proceeding as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 2.8(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, action or
proceeding if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any such case for any such loss, claim, damage, liability, action or proceeding to
the extent that it arises out of or is based upon a Violation that occurs in reliance upon, and in conformity with, written information furnished expressly for use in connection with such registration by any such Holder, underwriter, controlling
Person or other aforementioned Person. 
 (b)    To the extent permitted by law, each selling Holder, severally and not
jointly, will indemnify and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each Person, if any, who controls the Company within the meaning of the Act, legal counsel and accountants
for the Company, any 

  
 10 

 
underwriter, any other Holder selling securities in such registration statement and any controlling Person of any such underwriter or other Holder, against any losses, claims, damages or
liabilities (joint or several) to which any of the foregoing Persons may become subject, under the Act, the 1934 Act, any state securities laws or any rule or regulation promulgated under the Act, the 1934 Act or any state securities laws, insofar
as such losses, claims, damages or liabilities (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation
occurs in reliance upon and in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such Holder will reimburse any Person intended to be indemnified pursuant to this
Section 2.8(b) for any legal or other expenses reasonably incurred by such Person in connection with investigating or defending any such loss, claim, damage, liability, action or proceeding as such expenses are incurred; provided, however, that
the indemnity agreement contained in this Section 2.8(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, action or proceeding if such settlement is effected without the consent of the Holder (which
consent shall not be unreasonably withheld), and provided that in no event shall any indemnity under this Section 2.8(b) exceed the net proceeds from the offering received by such Holder. 

(c)    Promptly after receipt by an indemnified party under this Section 2.8 of notice of the commencement of any
action or proceeding (including, without limitation, any governmental action or proceeding) for which a party may be entitled to indemnification, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party
under this Section 2.8, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in and, to the extent the indemnifying party so desires, jointly with any
other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented without
conflict by one counsel) shall have the right to retain one (1) separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party
would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a
reasonable time of the commencement of any such action or proceeding, if prejudicial to its ability to defend such action or proceeding, shall relieve such indemnifying party of liability to the indemnified party under this Section 2.8 to the
extent of such prejudice, but the omission to so deliver written notice to the indemnifying party will not relieve such indemnifying party of any liability that it may have to any indemnified party otherwise than under this Section 2.8. 

(d)    If the indemnification provided for in this Section 2.8 is held by a court of competent jurisdiction to be
unavailable to an indemnified party with respect to any loss, liability, claim, damage or expense referred to herein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or
payable by such indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party on the other hand
in connection with the statements or omissions that resulted in such loss, liability, claim, damage or expense, as well as any other relevant equitable 

  
 11 

 
considerations; provided, however, that (i) no contribution by any Holder, when combined with any amounts paid by such Holder pursuant to Section 2.8(b), shall exceed the net proceeds
from the offering received by such Holder and (ii) no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) will be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation; and provided further that in no event shall a Holder’s liability pursuant to this Section 2.8(d), when combined with the amounts paid or payable by such Holder pursuant to Section 2.8(b), exceed the proceeds from
the offering received by such Holder (net of any expenses paid by such Holder). The relative fault of the indemnifying party and the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission. 
 (e)    Notwithstanding the foregoing, to the
extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting
agreement shall control. 
 (f)    The obligations of the Company and Holders under this Section 2.8 shall survive
the completion of any offering of Registrable Securities in a registration statement under this Section 2 and otherwise. 

2.9    Reports Under the 1934 Act. With a view to making available to the Holders the benefits of Rule 144 and
any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company agrees
to: 
 (a)    make and keep public information available, as those terms are understood and defined in Rule 144,
at all times after the effective date of the Initial Offering; 
 (b)    file with the SEC in a timely manner all
reports and other documents required of the Company under the Act and the 1934 Act; and 
 (c)    furnish to any
Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of Rule 144 (at any time after ninety (90) days after
the effective date of the first registration statement filed by the Company), the Act and the 1934 Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold
pursuant to Form S-3 (at any time after it so qualifies), (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company and
(iii) such other information as may be reasonably requested to avail any Holder of any rule or regulation of the SEC that permits the selling of any such securities without registration or pursuant to such form. 

2.10    Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities
pursuant to this Section 2 may be assigned (but only with all 

  
 12 

 
related obligations) by a Holder to a transferee or assignee of such securities that (a) is an Affiliate, subsidiary, parent, partner, limited partner, retired partner, member or stockholder
of a Holder, (b) is a Holder’s family member or trust for the benefit of an individual Holder or any of such Holder’s family members, or (c) after such assignment or transfer, holds at least one million (1,000,000) shares of
Registrable Securities (appropriately adjusted for any stock split, dividend, combination or other recapitalization), provided: (i) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and
address of such transferee or assignee and the securities with respect to which such registration rights are being assigned; (ii) such transferee or assignee agrees in writing to be bound by and subject to the terms and conditions of this
Agreement, including, without limitation, the provisions of Section 2.12 of this Agreement; and (iii) such assignment shall be effective only if immediately following such transfer the further disposition of such securities by the
transferee or assignee is restricted under the Act. 
 2.11    Limitations on Subsequent Registration Rights.
From and after the date of this Agreement, the Company shall not, without the prior written consent of the Holders holding a majority of the Registrable Securities then held by all Holders, enter into any agreement with any holder or prospective
holder of any securities of the Company that would allow such holder or prospective holder (a) to include any of such securities in any registration filed under Section 2.1, Section 2.2 or Section 2.3 of this Agreement, unless
under the terms of such agreement, such holder or prospective holder may include such securities in any such registration only to the extent that the inclusion of such securities will not reduce the amount of the Registrable Securities of the
Holders that are included or (b) to demand registration of their securities. 
 2.12    “Market Stand-Off” Agreement. 
 (a)    Each Holder hereby agrees that
it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the Initial Offering and ending on the date specified by the Company and the managing
underwriter (such period not to exceed one hundred eighty (180) days) (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to
purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock (whether such shares or any such securities are then owned by the
Holder or are thereafter acquired), or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in
clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash or otherwise; provided that the restrictions in clauses (i) and (ii) above shall not apply to any shares of Common Stock
acquired in the Initial Offering or subsequent to the Initial Offering in the open market. The foregoing provisions of this Section 2.12 shall apply only to the Initial Offering, shall not apply to the sale of any shares to an underwriter
pursuant to an underwriting agreement, and shall only be applicable to the Holders if all officers, directors and greater than one percent (1%) stockholders of the Company enter into similar agreements. The underwriters in connection with the
Initial Offering are intended third-party beneficiaries of this Section 2.12 and shall have the right, power and authority to enforce the provisions hereof as though they were a

  
 13 

 
party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in the Initial Offering that are consistent with this Section 2.12 or
that are necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply to all Holders subject to such agreements pro rata based
on the number of shares subject to such agreements (after giving effect to any underwriter “cut-back” priority provisions as to which such shares are subject). 

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

(b)    Each Holder agrees that a legend reading substantially as follows shall be placed on all certificates representing
all Registrable Securities of each Holder (and the shares or securities of every other Person subject to the restriction contained in this Section 2.12): 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCK-UP PERIOD AFTER THE EFFECTIVE DATE
OF THE ISSUER’S REGISTRATION STATEMENT FILED UNDER THE ACT, AS AMENDED, AS SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE ORIGINAL HOLDER OF THESE SECURITIES, A COPY OF WHICH MAY BE OBTAINED AT THE ISSUER’S PRINCIPAL OFFICE. SUCH LOCK-UP PERIOD IS BINDING ON TRANSFEREES OF THESE SHARES. 
 2.13    Termination of
Registration Rights. No Holder shall be entitled to exercise any right provided for in this Section 2: (a) after four (4) years following the consummation of the Initial Offering, (b) as to any Holder, such earlier time after the
Initial Offering at which such Holder (i) can sell all shares held by it in compliance with Rule 144(b)(1)(i) or (ii) holds one percent (1%) or less of the Company’s outstanding Common Stock and all Registrable Securities held by
such Holder (together with any Affiliate of the Holder with whom such Holder must aggregate its sales under Rule 144) can be sold in any three (3) month period without registration in compliance with Rule 144 or (c) upon the
consummation of a Liquidation Event. 
 3.    Covenants of the Company. 

3.1    Delivery of Financial Statements. 

(a)    The Company shall deliver to each Investor (or transferee of an Investor) that holds at least one million
(1,000,000) shares of Registrable Securities (appropriately adjusted for any stock split, dividend, combination or other recapitalization) (a “Major Investor”): 

(i)    as soon as practicable, but in any event within one hundred twenty (120) days after the end of each fiscal
year of the Company, an unaudited income statement for such fiscal year, an unaudited balance sheet of the Company and statement of 

  
 14 

 
stockholders’ equity as of the end of such year, and an unaudited statement of cash flows for such year, such year-end financial reports to be in
reasonable detail, prepared in accordance with generally accepted accounting principles (“GAAP”) (except that such financial statements may (A) be subject to normal year-end adjustments
and (B) not contain all notes thereto that may be required in accordance with GAAP); provided, however, that following such time that the Board decides that the Company should obtain audited financial statements, such audited financial
statements shall be delivered to each Major Investor as soon as practicable following the end of each fiscal year of the Company; 

(ii)    as soon as practicable, but in any event within forty-five (45) days after the end of each quarter of each
fiscal year of the Company, (a) an unaudited income statement and statement of cash flows for such fiscal quarter and an unaudited balance sheet as of the end of such fiscal quarter, all prepared in accordance with GAAP (except that such
financial statements may (i) be subject to normal year-end adjustments and (ii) not contain all notes thereto that may be required in accordance with GAAP) and (b) a detailed capitalization of
the Company as of a recent date; 
 (iii)     as soon as practicable, but in any event at least thirty (30) days
prior to the end of each fiscal year, a budget and business plan for the next fiscal year, prepared on a monthly basis, including balance sheets, income statements and statements of cash flows for such months and, as soon as prepared, any other
budgets or revised budgets prepared by the Company; 
 (iv)    such other information relating to the financial
condition, business or corporate affairs of the Company as the Major Investor may from time to time reasonably request; provided, however, that the Company shall not be obligated under this subsection (vi) or any other subsection of
Section 3.1 to provide information that (A) it deems in good faith to be a trade secret or similar confidential information or (B) the disclosure of which would adversely affect the attorney-client privilege between the Company and
its counsel; and 
 (b)    Notwithstanding anything else in this Section 3.1 to the contrary, the Company may
cease providing the information set forth in this Section 3.1 during the period starting with the date thirty (30) days before the Company’s good-faith estimate of the date of filing of a registration statement if it reasonably
concludes it must do so to comply with the SEC rules applicable to such registration statement and related offering; provided that the Company’s covenants under this Section 3.1 shall be reinstated at such time as the Company is no longer
actively employing its commercially reasonable efforts to cause such registration statement to become effective. 

3.2    Inspection. The Company shall permit each Major Investor, at such Major Investor’s expense, to visit
and inspect the Company’s properties, to examine its books of account and records and to discuss the Company’s affairs, finances and accounts with its officers, all at such reasonable times as may be requested by the Major Investor;
provided, however, that the Company shall not be obligated pursuant to this Section 3.2 to provide access to any information that (a) it deems in good faith to be a trade secret or similar confidential information or (b) the
disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel. 

  
 15 

 3.3    Termination of Information and Inspection Covenants. The
covenants set forth in Sections 3.1 and 3.2 shall terminate and be of no further force or effect upon the earliest to occur of (a) the consummation of the sale of securities pursuant to a registration statement filed by the Company under
the Act in connection with the firm commitment underwritten offering of its securities to the general public, (b) when the Company first becomes subject to the periodic reporting requirements of Sections 12(g) or 15(d) of the 1934 Act,
whichever event shall first occur and (c) the consummation of a Liquidation Event. 
 3.4    Right of First
Offer. Subject to the terms and conditions specified in this Section 3.4, the Company hereby grants to each Major Investor a right of first offer with respect to future sales by the Company of its Shares (as hereinafter defined). For
purposes of this Section 3.4, the term “Major Investor” includes any general partners and Affiliates of a Major Investor. A Major Investor shall be entitled to apportion the right of first offer hereby granted it among itself
and its partners, members and Affiliates in such proportions as it deems appropriate. 
 Each time the Company proposes to offer any shares
of, or securities convertible into or exchangeable or exercisable for any shares of, its capital stock (“Shares”), the Company shall first make an offering of such Shares to each Major Investor in accordance with the following
provisions: 
 (a)    The Company shall deliver a notice in accordance with Section 4.5
(“Notice”) to the Major Investors stating (i) its bona fide intention to offer such Shares, (ii) the number of such Shares to be offered and (iii) the price and terms upon which it proposes to offer such Shares. 

(b)    By written notification received by the Company within fifteen (15) calendar days after the giving of Notice,
each Major Investor may elect to purchase, at the price and on the terms specified in the Notice, up to that portion of such Shares that equals the proportion that the number of shares of Registrable Securities issued and held by such Major Investor
(assuming full conversion and exercise of all convertible and exercisable securities then outstanding) bears to the total number of shares of Common Stock of the Company then outstanding (assuming full conversion and exercise of all convertible and
exercisable securities then outstanding). At the expiration of such fifteen (15) calendar day period, the Company shall promptly, in writing, notify each Major Investor that elects to purchase all the shares available to it (a
“Fully-Exercising Investor”) of any other Major Investor’s failure to do likewise. During the ten (10) calendar day period commencing after the Company has given such notice to the Fully-Exercising Investors, each Fully-Exercising Investor may elect to purchase that portion of the Shares for which Major Investors were entitled to subscribe, but which were not subscribed for by the Major Investors, that is equal to the
proportion that the number of shares of Registrable Securities issued and held by such Fully-Exercising Investor bears to the total number of shares of Common Stock of the Company then outstanding (assuming
full conversion and exercise of all convertible and exercisable securities then outstanding). 
 (c)    If all Shares
that Major Investors are entitled to obtain pursuant to Section 3.4(b) of this Agreement are not elected to be obtained as provided in Section 3.4(b) of this Agreement, the Company may, during the ninety (90) day period following the
expiration of the period provided in Section 3.4(b) of this Agreement, offer the remaining unsubscribed 

  
 16 

 
portion of such Shares to any Person or Persons at a price not less than that, and upon terms no more favorable to the offeree than those, specified in the Notice. If the Company does not enter
into an agreement for the sale of the Shares within such period, or if such agreement is not consummated within sixty (60) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such Shares shall not be
offered unless first reoffered to the Major Investors in accordance herewith. 
 (d)    The right of first offer in
this Section 3.4 shall not be applicable to (i) the issuance or sale of shares of Common Stock (or options therefor) to employees, directors, consultants and other service providers for the primary purpose of soliciting or retaining their
services pursuant to plans or agreements approved by the Board; (ii) the issuance of securities pursuant to an underwritten public offering of shares of Common Stock registered under the Act pursuant to which all shares of Preferred Stock are
automatically converted by its terms into shares of Common Stock, (iii) the issuance of securities pursuant to the conversion or exercise of convertible or exercisable securities, (iv) the issuance of securities in connection with a bona
fide business acquisition by the Company, whether by merger, consolidation, sale of assets, sale or exchange of stock or otherwise, provided such issuances are approved by the Board, (v) the issuance and sale of
Series C-1 Preferred Stock pursuant to the Series C-1 Agreement, (vi) the issuance of stock, warrants or other securities or rights pursuant to any equipment
leasing arrangement, commercial property arrangement or debt financing arrangement, which arrangement is approved by the Board and is primarily for non-equity financing purposes, or (vii) the issuance of
stock, warrants or other securities or rights to Persons or entities as a component of any corporate strategic relationship, provided such relationships and issuances are approved by the Board and are primarily for
non-equity financing purposes. In addition to the foregoing, the right of first offer in this Section 3.4 shall not be applicable with respect to any Major Investor in any subsequent offering of Shares if
(i) at the time of such offering, the Major Investor is not an “accredited investor,” as that term is then defined in Rule 501(a) of the Act and (ii) such offering of Shares is otherwise being offered only to accredited
investors. 
 (e)    The rights provided in this Section 3.4 may not be assigned or transferred by any Major
Investor; provided, however, that a Major Investor that is a venture capital fund may assign or transfer such rights to its Affiliates. 

(f)    The covenants set forth in this Section 3.4 shall terminate and be of no further force or effect upon the
consummation of the earlier of (i) a Qualified Public Offering or (ii) a Liquidation Event. 

3.5    Directors’ and Officers’ Insurance. The Company shall use its
commercially reasonable efforts to obtain from financially sound and reputable insurers directors and officers liability insurance in an amount and on terms and conditions satisfactory to the Board, and will use its commercially reasonable efforts
to cause such insurance policy to be maintained until such time as the Board (including the director appointed by the Holders of Series C-1 Preferred Stock) determines that such insurance should be
discontinued. 

  
 17 

 3.6    Observer Rights. 

(a)    As long as DAG Ventures V, L.P. and/or DAG Ventures V-QP, L.P.
(collectively “DAG Ventures”) own at least 2,500,000 shares (appropriately adjusted for any stock split, dividend, combination or other recapitalization) of Series A Preferred Stock (or an equivalent amount of Common Stock
issued upon conversion thereof), the Company shall invite a representative of DAG Ventures to attend all meetings of its Board in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes,
consents and other materials that it provides to its directors; provided, however, that such representative shall agree to hold in confidence and trust and to act in a fiduciary manner with respect to all information so provided; and, provided
further, that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if access to such information or attendance at such meeting (a) could adversely affect the
attorney-client privilege between the Company and its counsel, (b) would result in disclosure of trade secrets to such representative, or (c) if such Investor or its representative is or is affiliated with a direct competitor of the
Company. Any observer shall be required to enter into a confidentiality agreement containing substantially similar terms as those set forth in Section 3.10 of this Agreement with the Company prior to the exercise of the rights contained in this
Section 3.6(a). 
 (b)    As long as Nanodimension II Limited Partnership and its Affiliates (collectively,
“NanoDimension”) own at least 1,500,000 shares (appropriately adjusted for any stock split, dividend, combination or other recapitalization) of Series B Preferred Stock (or an equivalent amount of Common Stock issued upon
conversion thereof), the Company shall invite a representative of NanoDimension to attend all meetings of its Board or any committee thereof in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices,
minutes, consents and other materials that it provides to its directors, including the members of any committees of the Board; provided, however, that such representative shall agree to hold in confidence and trust and to act in a fiduciary manner
with respect to all information so provided; and, provided further, that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if access to such information or attendance at
such meeting (a) could adversely affect the attorney-client privilege between the Company and its counsel, (b) would result in disclosure of trade secrets to such representative, or (c) if such Investor or its representative is or is
affiliated with a direct competitor of the Company. Any observer shall be required to enter into a confidentiality agreement containing substantially similar terms as those set forth in Section 3.10 of this Agreement with the Company prior to
the exercise of the rights contained in this Section 3.6(b). 
 (c)    As long as GV 2016, L.P. and its Affiliates
(collectively, “GV”) own at least 1,500,000 shares (appropriately adjusted for any stock split, dividend, combination or other recapitalization) of Series C-1 Preferred Stock (or an
equivalent amount of Common Stock issued upon conversion thereof), the Company shall invite a representative of GV to attend all meetings of its Board or any committee thereof in a nonvoting observer capacity and, in this respect, shall give such
representative copies of all notices, minutes, consents and other materials that it provides to its directors, including the members of any committees of the Board; provided, however, that such representative shall agree to hold in confidence and
trust and to act in a fiduciary manner with respect to all information so provided; and, provided further, that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if
access to such information or attendance at such meeting (a) 

  
 18 

 
could adversely affect the attorney-client privilege between the Company and its counsel, (b) would result in disclosure of trade secrets to such representative, or (c) if such Investor
or its representative is or is affiliated with a direct competitor of the Company; and, provided further, that the rights contained in this Section 3.6(c) shall be terminable at the option of the Company at any time. Any observer shall be
required to enter into a confidentiality agreement containing substantially similar terms as those set forth in Section 3.10 of this Agreement with the Company prior to the exercise of the rights contained in this Section 3.6(c). 

(d)    As long as Industrial Investors Group Limited and its Affiliates (collectively, “Industrial
Investors”) own at least 1,500,000 shares (appropriately adjusted for any stock split, dividend, combination or other recapitalization) of Series C-1 Preferred Stock (or an equivalent amount of
Common Stock issued upon conversion thereof), the Company shall invite a representative of Industrial Investors to attend all meetings of its Board or any committee thereof in a nonvoting observer capacity and, in this respect, shall give such
representative copies of all notices, minutes, consents and other materials that it provides to its directors, including the members of any committees of the Board; provided, however, that such representative shall agree to hold in confidence and
trust and to act in a fiduciary manner with respect to all information so provided; and, provided further, that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if
access to such information or attendance at such meeting (a) could adversely affect the attorney-client privilege between the Company and its counsel, (b) would result in disclosure of trade secrets to such representative, or (c) if
such Investor or its representative is or is affiliated with a direct competitor of the Company. Any observer shall be required to enter into a confidentiality agreement containing substantially similar terms as those set forth in Section 3.10
of this Agreement with the Company prior to the exercise of the rights contained in this Section 3.6(d). 

(e)    As long as Qiming U.S. Healthcare Fund, L.P. and its Affiliates (collectively, “Qiming”) own at
least 1,500,000 shares (appropriately adjusted for any stock split, dividend, combination or other recapitalization) of Series C-1 Preferred Stock (or an equivalent amount of Common Stock issued upon
conversion thereof), the Company shall invite a representative of Qiming to attend all meetings of its Board or any committee thereof in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices,
minutes, consents and other materials that it provides to its directors, including the members of any committees of the Board; provided, however, that such representative shall agree to hold in confidence and trust and to act in a fiduciary manner
with respect to all information so provided; and, provided further, that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if access to such information or attendance at
such meeting (a) could adversely affect the attorney-client privilege between the Company and its counsel, (b) would result in disclosure of trade secrets to such representative, or (c) if such Investor or its representative is or is
affiliated with a direct competitor of the Company. Any observer shall be required to enter into a confidentiality agreement containing substantially similar terms as those set forth in Section 3.10 of this Agreement with the Company prior to
the exercise of the rights contained in this Section 3.6(e). 
 3.7    Proprietary Information and Inventions
Agreements. The Company shall require all employees and consultants with access to confidential information to execute and deliver a Proprietary Information and Inventions Agreement in substantially the form approved by the Board or a consulting
agreement containing substantially similar proprietary rights assignment and confidentiality provisions. 

  
 19 

 3.8    Employee Agreements. Unless approved by the Board, all future
employees of the Company who shall purchase, or receive options to purchase, shares of Common Stock following the date hereof shall be required to execute stock purchase or option agreements providing for (a) vesting of shares over a four
(4) year period with the first twenty five percent (25%) of such shares vesting following twelve (12) months of continued employment or services, and the remaining shares vesting in equal monthly installments over the following thirty six
(36) months thereafter and (b) a one hundred and eighty (180)-day lockup period (plus an additional period of up to eighteen (18) days) in connection with the Initial Public Offering. The
Company shall retain a right of first refusal on transfers until the Initial Public Offering and the right to repurchase unvested shares at no greater than cost. 

3.9    Indemnification Matters. The Company hereby acknowledges that one (1) or more of the directors
nominated to serve on the Board by the Investors (each a “Fund Director”) may have certain rights to indemnification, advancement of expenses and/or insurance provided by one or more of the Investors and certain of their affiliates
(collectively, the “Fund Indemnitors”). The Company hereby agrees (a) that it is the indemnitor of first resort (i.e., its obligations to any such Fund Director are primary and any obligation of the Fund Indemnitors to advance
expenses or to provide indemnification for the same expenses or liabilities incurred by such Fund Director are secondary), (b) that it shall be required to advance the full amount of expenses incurred by such Fund Director and shall be liable for
the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or on behalf of any such Fund Director to the extent legally permitted and as required by the Restated Certificate or Bylaws of the Company (or any
agreement between the Company and such Fund Director), without regard to any rights such Fund Director may have against the Fund Indemnitors, and, (c) that it irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all
claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Fund Indemnitors on behalf of any such Fund Director with
respect to any claim for which such Fund Director has sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to
all of the rights of recovery of such Fund Director against the Company. 
 3.10     Confidentiality. Each
Investor agrees, severally and not jointly, to use the same degree of care as such Investor uses to protect its own confidential information for any information obtained pursuant to this Agreement or otherwise as a stockholder of the Company which
the Company identifies in writing as being proprietary or confidential and such Investor acknowledges that it will not, unless otherwise required by law or the rules of any national securities exchange, association or marketplace, disclose such
information without the prior written consent of the Company except such information that (a) was in the public domain prior to the time it was furnished to such Investor, (b) is or becomes (through no willful improper action or inaction
by such Investor) generally available to the public, (c) was in its possession or known by such Investor without restriction prior to receipt from the Company, (d) was rightfully disclosed to such Investor by a third party without
restriction or (e) was independently developed 

  
 20 

 
without any use of the Company’s confidential information. Notwithstanding the foregoing, each Investor that is a limited partnership or limited liability company may disclose such
proprietary or confidential information to any former partners or members who retained an economic interest in such Investor, current or prospective partner of the partnership or any subsequent partnership under common investment management, limited
partner, general partner, member or management company of such Investor (or any employee or representative of any of the foregoing) (each of the foregoing Persons, a “Permitted Disclosee”) or legal counsel, accountants or
representatives for such Investor. Furthermore, nothing contained herein shall prevent any Investor or any Permitted Disclosee from (i) entering into any business, entering into any agreement with a third party, or investing in or engaging in
investment discussions with any other company (whether or not competitive with the Company), provided that such Investor or Permitted Disclosee does not, except as permitted in accordance with this Section 3.10, disclose or otherwise make use
of any proprietary or confidential information of the Company in connection with such activities, or (ii) making any disclosures required by law, rule, regulation or court or other governmental order. 

3.11     Termination of Certain Covenants. The covenants set forth in Sections 3.6, 3.7 and 3.8 shall
terminate and be of no further force or effect upon the consummation of the earlier of (a) a Qualified Public Offering or (b) a Liquidation Event. 

4.    Miscellaneous. 

4.1    Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall
inure to the benefit of and be binding upon the respective successors and assigns of the parties (including, without limitation, transferees of any shares of Registrable Securities). Nothing in this Agreement, express or implied, is intended to
confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

4.2    Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of
California, without regard to conflicts of law principles thereof. 
 4.3    Counterparts; Facsimile. This
Agreement may be executed and delivered in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered by facsimile, electronic
mail (including, without limitation, pdf or similar format methods) or other transmission method, and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

4.4    Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are
not to be considered in construing or interpreting this Agreement. 
 4.5    Notices. All notices and other
communications given or made pursuant hereto shall be in writing and shall be deemed effectively given upon the earlier to occur of 

  
 21 

 
actual receipt or: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient;
if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight
courier, specifying next day delivery, with written verification of receipt. All notices and other communications shall be sent to the Company at 575 Chesapeake Drive, Redwood City, CA 94063, Attention: President and CEO and to the other parties at
the addresses set forth on Schedule A (or at such other addresses as shall be specified by notice given in accordance with this Section 4.5). 

4.6    Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this
Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 

4.7    Entire Agreement. This Agreement (including the Exhibits hereto, if any) constitutes the full and entire
understanding and agreement among the parties with regard to the subjects hereof and thereof. The Prior Agreement is hereby amended and restated in its entirety and shall be of no further force or effect. 

4.8    Amendments. Any term of this Agreement (other than Section 3.1, Section 3.2, Section 3.3,
Section 3.4 and this Section 4.8) may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the
Company and the Investors holding a majority of the Registrable Securities. The provisions of Section 3.1, Section 3.2, Section 3.3 and Section 3.4 may be amended or waived (either generally or in a particular instance and either
retroactively or prospectively) only with the written consent of the Company and the Major Investors holding a majority of the Registrable Securities then held by all of the Major Investors. Notwithstanding the foregoing, (i) the provisions of
Section 3.4 may not be waived (either generally or in a particular instance and either retroactively or prospectively) on behalf of any Major Investor who has not waived such Major Investor’s rights (either generally or in such particular
instance) under Section 3.4 (a “Waived Transaction”) unless (x) no Major Investor purchases any shares in such Waived Transaction or (y) if any Major Investor purchases shares in such Waived Transaction (referred to
as the “Participating Major Investor”), each Major Investor who has not waived their rights shall have been provided the opportunity to purchase up to such Major Investor’s pro rata share (as determined in accordance with
Section 3.4) of all of the Shares that would have been allocated and offered for purchase by the Major Investors had no waiver been made. To the extent the amounts so allocated to and agreed to be purchased by such Major Investors results, when
combined with the shares to be acquired by the Participating Major Investor, in the Company being required to sell more shares than what were originally allocable to the Major Investors pursuant to Section 3.4, the number of shares so allocated
to the Participating Major Investor shall be reduced. Notwithstanding the foregoing, (i) the provisions of Section 3.6(a) may be amended and the observance of any term thereof may be waived (either generally or in a particular instance and
either retroactively or prospectively) only with the written consent of DAG Ventures, (ii) the provisions of Section 3.6(b) may be amended and the observance of any term thereof may be waived (either generally or in a particular instance
and either retroactively or prospectively) only with the written consent of 

  
 22 

 
Nanodimension II Limited Partnership, (iii) the provisions of Section 3.6(c) may only be amended and the observance of any term thereof may only be waived (either generally or in a
particular instance and either retroactively or prospectively) only with the written consent of GV, (iv) the provisions of Section 3.6(d) may only be amended and the observance of any term thereof may only be waived (either generally or in
a particular instance and either retroactively or prospectively) only with the written consent of Industrial Investors and (v) the provisions of Section 3.6(e) may only be amended and the observance of any term thereof may only be waived
(either generally or in a particular instance and either retroactively or prospectively) only with the written consent of Qiming. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each holder of any Registrable
Securities, each future holder of all such Registrable Securities and the Company. The terms of this Section 4.8 shall not be amended without the requisite consent of the Company and those Investors affected by such amendment. 

4.9    Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 4.10    Aggregation of
Stock. All shares of Registrable Securities held or acquired by affiliated entities (including, without limitation, affiliated venture capital funds or venture capital funds under common investment management) or Persons shall be aggregated
together for the purpose of determining the availability of any rights under this Agreement. 
 4.11    Additional
Investors. Notwithstanding Section 4.8, no consent shall be necessary to add additional Investors as signatories to this Agreement and to update Schedule A accordingly, provided that such Investors have purchased Series C-1 Preferred Stock pursuant to the subsequent closing provisions of Section 1.3 of the Series C-1 Agreement. 

[Signature pages follow] 

  
 23 

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

					
	ARMO BIOSCIENCES, INC.
		
	By:	 	 /s/ Peter Van Vlasselaer

		 	Name:	 	Peter Van Vlasselaer
		 	Title:	 	President and CEO

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
	INVESTOR:
	
	QIMING U.S. HEALTHCARE FUND, L.P.
	
	By: Qiming U.S. Healthcare GP, LLC,
	its General Partner
		
	By:	 	 /s/ Gary Rieschel

	Name:	 	Gary Rieschel
	Title:	 	Founding Managing Partner

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
	INVESTOR:
	
	KPCB Holdings, Inc., as nominee
		
	By:	 	 /s/ Ava Hahn

	Name:	 	Ava Hahn
	Title:	 	General Counsel

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

					
		 	INVESTOR:
		
		 	DAG Ventures V-QP, L.P.
			
		 	By:	 	DAG Ventures Management V, LLC,
		 		 	its General Partner
			
		 	By:	 	 /s/ R. Thomas Goodrich

		 		 	R. Thomas Goodrich, Managing Director
		
		 	DAG Ventures V, L.P.
			
		 	By:	 	DAG Ventures Management V, LLC,
		 		 	its General Partner
			
		 	By:	 	 /s/ R. Thomas Goodrich

		 		 	R. Thomas Goodrich, Managing Director
		
	Address:	 	  

		 	  

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
	INVESTOR:
	
	G&H Partners
		
	By:	 	 /s/ Stefan J. Palmer Jr.

	Name:	 	Stefan J. Palmer Jr.
	Title:	 	Director of Investments & G.P.

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

					
		 	INVESTOR:
		
		 	NanoDimension II Limited Partnership
			
		 	By:	 	 /s/ Jonathan Nicholson

		 		 	Jonathan Nicholson
		 		 	Executive Director
		 		 	Nanodimension II Management Limited
		
	Address:	 	  

		 	  

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

					
	INVESTOR:
	
	OrbiMed Private Investments IV, LP
		
	By:	 	OrbiMed Capital GP IV LLC.
		 	its General Partner
		
	By:	 	OrbiMed Advisors LLC,
		 	its Managing Member
		
	By:	 	 /s/ Carl Gordon

		 	Name:	 	Carl Gordon
		 	Title:	 	Member
	
	OrbiMed Private Investments V, LP
		
	By:	 	OrbiMed Capital GP V LLC.
		 	its General Partner
		
	By:	 	OrbiMed Advisors LLC,
		 	its Managing Member
		
	By:	 	 /s/ Carl Gordon

		 	Name:	 	Carl Gordon
		 	Title:	 	Member

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
	INVESTOR:
	
	GV 2014, L.P.
		
	By:	 	GV 2014 GP, L.L.C., its General Partner
		
	By:	 	 /s/ Daphne M. Chang

	Name:	 	Daphne M. Chang
	Title:	 	Authorized Signatory
	
	GV 2016, L.P.
		
	By:	 	GV 2016 GP, L.P., its General Partner
	By:	 	GV 2016 GP, L.L.C., its General Partner
		
	By:	 	 /s/ Daphne M. Chang

		 	Daphne M. Chang
		 	Authorized Signatory

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
	INVESTOR:
	
	CELGENE CORPORATION
		
	By:	 	 /s/ Winston Kung

	Name:	 	Winston Kung
	Title:	 	VP, BD & Global Alliances

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

					
		 	INVESTORS:
		
		 	CLOUGH HEALTHCARE MASTER FUND, L.P.
			
		 	By:	 	 /s/ Daniel Gillis

		 		 	Daniel Gillis
		 		 	Chief Compliance Officer
		
		 	CLOUGH INVESTMENT PARTNERS I, L.P.
			
		 	By:	 	 /s/ Daniel Gillis

		 		 	Daniel Gillis
		 		 	Chief Compliance Officer
		
		 	CLOUGH INVESTMENT PARTNERS II, L.P.
			
		 	By:	 	 /s/ Daniel Gillis

		 		 	Daniel Gillis
		 		 	Chief Compliance Officer
		
		 	CLOUGH OFFSHORE FUND, LTD.
			
		 	By:	 	 /s/ Daniel Gillis

		 		 	Daniel Gillis
		 		 	Chief Compliance Officer
		
	Address:	 	  

		 	  

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
	INVESTORS:
	
	QUAN VENTURE FUND I, L.P.
		
	By:	 	Quan Venture Partners I, L.L.C.
	Its:	 	General Partner
		
	By:	 	 /s/ Mariette Wu

	Name:	 	Mariette Wu
	Title:	 	Managing Director

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
	INVESTORS:
	
	HBM HEALTHCARE INVESTMENTS (CAYMAN) LTD.
		
	By:	 	 /s/ Jean-Marc LeSieur

	Name:	 	Jean-Marc LeSieur
	Title:	 	Managing Director

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
	INVESTORS:
	
	RTW MASTER FUND, LTD
		
	By:	 	 /s/ Roderick Wong

		 	Roderick Wong
		 	Director
	
	RTW INNOVATION MASTER FUND, LTD
		
	By:	 	 /s/ Roderick Wong

		 	Roderick Wong
		 	Director

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
	INVESTORS:
	
	DECHENG CAPITAL CHINA LIFE SCIENCES USD FUND II, L.P.
	
	By its General Partner,
	Decheng Capital Management II (Cayman), LLC
		
	By:	 	 /s/ Xiangmin Cui

		 	Xiangmin Cui
		 	Managing Director

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
		 	INVESTOR:
		
		 	 /s/ Blake Byers

		 	BLAKE BYERS
		
	Address:	 	  

		 	  

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
		 	INVESTOR:
		
		 	 /s/ Chad Byers

		 	CHAD BYERS
		
	Address:	 	  

		 	  

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

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

			
	INVESTOR:
	
	SCC VENTURE VI HOLDCO, LTD.
		
	By:	 	 /s/ Ip Siu Wai Eva

		 	Ip Siu Wai Eva
		 	Authorized Signatory

  

SIGNATURE PAGE TO AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT FOR ARMO
BIOSCIENCES, INC. 

 SCHEDULE A 

SCHEDULE OF INVESTORS 
 Qiming U.S.
Healthcare Fund, L.P. 
 KPCB Holdings, Inc., as nominee 

DAG Ventures V-QP, L.P. 

DAG Ventures V, L.P. 
 John Mumm 

Martin Oft 
 Anatol Stein 

OrbiMed Private Investments IV, LP 
 OrbiMed Private
Investments V, LP 
 G&H Partners 

  
 S-1 

 NanoDimension II Limited Partnership 

Industrial Investors Group Limited 
 GV 2014, L.P.

 GV 2016, L.P. 
 Blake Byers 

Chad Byers 
 Celgene Corporation 

Clough Healthcare Master Fund, L.P. 
 Clough Investment
Partners I, L.P. 
 Clough Investment Partners II, L.P. 

Clough Offshore Fund, Ltd. 

  
 S-2 

 HBM Healthcare Investments (Cayman) Ltd. 

Quan Venture Fund I, L.P. 
 RTW Master Fund, Ltd.

 RTW Innovation Master Fund, Ltd. 
 SCC Venture
VI Holdco, Ltd. 
 Decheng Capital China Life Sciences USD Fund II, L.P. 

  
 S-3

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