Document:

Exhibit
10.3

 

FORM
OF LOCK-UP AGREEMENT

 

January
11, 2021

 

 

		Re:	Securities
                                         Purchase Agreement, dated as of January 11, 2021 (the “Purchase Agreement”),
                                         between Diginex Limited (the “Company”) and the purchasers signatory thereto
                                         (each, a “Purchaser” and, collectively, the “Purchasers”)

 

Ladies
and Gentlemen:

 

Defined
terms not otherwise defined in this letter agreement (the “Letter Agreement”) shall have the meanings set forth
in the Purchase Agreement. Pursuant to Section 2.2(a) of the Purchase Agreement and in satisfaction of a condition of the Company’s
obligations under the Purchase Agreement, the undersigned irrevocably agrees with the Company that, from the date hereof until
30 days after the Effective Date (such period, the “Restriction Period”) (provided, that with respect to clause
(a) of such definition, only if the Registration Statement registers for resale all Shares and Warrant Shares), the undersigned
will not offer, sell, contract to sell, hypothecate, pledge or otherwise dispose of (or enter into any transaction which is designed
to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition
due to cash settlement or otherwise) by the undersigned or any Affiliate of the undersigned or any person in privity with the
undersigned or any Affiliate of the undersigned), directly or indirectly, or establish or increase a put equivalent position or
liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), with respect to, any Ordinary Shares of the Company or securities convertible, exchangeable
or exercisable into, Ordinary Shares of the Company beneficially owned, held or hereafter acquired by the undersigned (the “Securities”).
Beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act. In order to enforce this covenant,
the Company shall impose irrevocable stop-transfer instructions preventing the transfer agent of the Company from effecting any
actions in violation of this Letter Agreement.

 

Notwithstanding
the foregoing, and subject to the conditions below, the undersigned may transfer the Securities provided that (1) the Company
receives a signed lock-up letter agreement (in the form of this Letter Agreement) for the balance of the Restriction Period from
each donee, trustee, distributee, or transferee, as the case may be, prior to such transfer (2) any such transfer shall not involve
a disposition for value, (3) such transfer is not required to be reported with the Securities and Exchange Commission in accordance
with the Exchange Act and no report of such transfer shall be made voluntarily, and (4) neither the undersigned nor any donee,
trustee, distributee or transferee, as the case may be, otherwise voluntarily effects any public filing or report regarding such
transfers, with respect to transfer:

 

	 	i)	as
    a bona fide gift or gifts;

 

    	 

     

    

 

	 	ii)	to
    any immediate family member or to any trust for the direct or indirect benefit of the undersigned or the immediate family
    of the undersigned (for purposes of this Letter Agreement, “immediate family” shall mean any relationship by blood,
    marriage or adoption, not more remote than first cousin);

 

	 	iii)	to
    any corporation, partnership, limited liability company, or other business entity all of the equity holders of which consist
    of the undersigned and/or the immediate family of the undersigned;

 

	 	iv)	if
    the undersigned is a corporation, partnership, limited liability company, trust or other business entity (a) to another corporation,
    partnership, limited liability company, trust or other business entity that is an Affiliate of the undersigned or (b) in the
    form of a distribution to limited partners, limited liability company members or stockholders of the undersigned;

 

	 	v)	if
    the undersigned is a trust, to the beneficiary of such trust;

 

	 	vi)	by
    will, other testamentary document or intestate succession to the legal representative, heir, beneficiary or a member of the
    immediate family of the undersigned; or

 

	 	vii)	of
    securities purchased in open market transactions after the Closing Date.

 

In
addition, notwithstanding the foregoing, this Letter Agreement shall not restrict the delivery of Ordinary Shares to the undersigned
upon (i) exercise any options granted under any employee benefit plan of the Company; provided that any Ordinary Shares or Securities
acquired in connection with any such exercise will be subject to the restrictions set forth in this Letter Agreement, or (ii)
the exercise of warrants; provided that such Ordinary Shares delivered to the undersigned in connection with such exercise are
subject to the restrictions set forth in this Letter Agreement.

 

Furthermore,
the undersigned may enter into any new plan established in compliance with Rule 10b5-1 of the Exchange Act; provided that (i)
such plan may only be established if no public announcement or filing with the Securities and Exchange Commission, or other applicable
regulatory authority, is made in connection with the establishment of such plan during the Restriction Period and (ii) no sale
of Ordinary Shares are made pursuant to such plan during the Restriction Period.

 

The
undersigned acknowledges that the execution, delivery and performance of this Letter Agreement is a material inducement to each
Purchaser to complete the transactions contemplated by the Purchase Agreement and the Company shall be entitled to specific performance
of the undersigned’s obligations hereunder. The undersigned hereby represents that the undersigned has the power and authority
to execute, deliver and perform this Letter Agreement, that the undersigned has received adequate consideration therefor and that
the undersigned will indirectly benefit from the closing of the transactions contemplated by the Purchase Agreement.

 

    	2

     

    

 

This
Letter Agreement may not be amended or otherwise modified in any respect without the written consent of each of the Company and
the undersigned. This Letter Agreement shall be construed and enforced in accordance with the laws of the State of New York without
regard to the principles of conflict of laws. The undersigned hereby irrevocably submits to the exclusive jurisdiction of the
United States District Court sitting in the Southern District of New York and the courts of the State of New York located in Manhattan,
for the purposes of any suit, action or proceeding arising out of or relating to this Letter Agreement, and hereby waives, and
agrees not to assert in any such suit, action or proceeding, any claim that (i) it is not personally subject to the jurisdiction
of such court, (ii) the suit, action or proceeding is brought in an inconvenient forum, or (iii) the venue of the suit, action
or proceeding is improper. The undersigned hereby irrevocably waives personal service of process and consents to process being
served in any such suit, action or proceeding by receiving a copy thereof sent to the Company at the address in effect for notices
to it under the Purchase Agreement and agrees that such service shall constitute good and sufficient service of process and notice
thereof. The undersigned hereby waives any right to a trial by jury. Nothing contained herein shall be deemed to limit in any
way any right to serve process in any manner permitted by law. The undersigned agrees and understands that this Letter Agreement
does not intend to create any relationship between the undersigned and any Purchaser and that no Purchaser is entitled to cast
any votes on the matters herein contemplated and that no issuance or sale of the Securities is created or intended by virtue of
this Letter Agreement.

 

This
Letter Agreement shall be binding on successors and assigns of the undersigned with respect to the Securities and any such successor
or assign shall enter into a similar agreement for the benefit of the Purchasers.

 

***
SIGNATURE PAGE FOLLOWS***

 

    	3

     

    

 

This
Letter Agreement may be executed in two or more counterparts, all of which when taken together may be considered one and the same
agreement.

 

_________________________

Signature

 

__________________________

Print
Name

 

__________________________

Position
in Company, if any

 

Address
for Notice:

 

__________________________

 

__________________________

 

__________________________

Number
of Ordinary Shares

 

_____________________________________________________________________________

Number
of Ordinary Shares underlying subject to warrants, options, debentures or other convertible securities

 

By
signing below, the Company agrees to enforce the restrictions on transfer set forth in this Letter Agreement.

 

Diginex
Limited 

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

    	4EX-4.2

 Exhibit 4.2 

TALIS BIOMEDICAL CORPORATION 

AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED INVESTOR RIGHTS
AGREEMENT (the “Agreement”) is entered into as of the 30th day of October, 2020, by and among TALIS BIOMEDICAL
CORPORATION, a Delaware corporation (the “Company”) and the investors listed on Exhibit A hereto, referred to hereinafter as the “Investors”
and each individually as an “Investor.” 
 RECITALS 

WHEREAS, certain of the Investors are purchasing shares of the Company’s
Series F-1 Preferred Stock (the “Series F-1 Stock,” and, together with the Company’s Series C-1
Preferred Stock, Series D-1 Preferred Stock, Series E-1 Preferred Stock, and Series 1 Preferred Stock, the “Voting Preferred Stock”) and the
Company’s Series F-2 Non-Voting Preferred Stock (the “Series F-2 Stock,” and, together with the
Company’s Series C-2 Non-Voting Preferred Stock, Series D-2 Non-Voting Preferred
Stock, Series E-2 Non-Voting Preferred Stock, Series 2 Non-Voting Preferred Stock and Voting Preferred Stock, the
“Preferred Stock”) pursuant to that certain Series F Preferred Stock Purchase Agreement (the “Purchase Agreement”) of even date herewith (the “Financing”); 

WHEREAS, the obligations in the Purchase Agreement are conditioned upon the execution and
delivery of this Agreement; 
 WHEREAS, certain of the Investors and the Company are
parties to an Investor Rights Agreement dated June 30, 2020 (the “Prior Agreement”); 

WHEREAS, the parties hereto, holding at least majority of the outstanding Registrable
Securities in accordance with Section 6.5(a) of the Prior Agreement, desire to amend and restate the Prior Agreement and accept the rights and covenants hereof in lieu of the rights and covenants under the Prior Agreement; and 

WHEREAS, in connection with the consummation of the Financing, the parties desire to enter
into this Agreement in order to grant registration, information rights and other rights to the Investors as set forth below. 

NOW, THEREFORE, in consideration of these premises and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 SECTION 1. GENERAL. 

1.1 Definitions. As used in this Agreement the following terms shall have the following respective meanings: 

(a) “Affiliate” means, with respect to any specified Person, any other Person who, directly or indirectly,
controls, is controlled by, or is under common control with such Person, including, without limitation, any general partner, managing member, officer, director or trustee of such Person, or any venture capital fund or other investment fund now or
hereafter existing that is controlled by one (1) or more general partners, managing members or investment adviser of, or shares the same management company or investment adviser with, such Person. 

  
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 (b) “Certificate” means the Company’s Seventh Amended
and Restated Certificate of Incorporation, as amended, restated, amended or restated, supplemented or otherwise modified from time to time. 

(c) “Common Stock” means the Company’s Common Stock. 

(d) “Directed Purchaser” means Investors holding the Company’s Preferred Stock. 

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

(f) “Form S-3” means such form under the Securities Act as in effect on
the date hereof or any successor or similar registration form under the Securities Act subsequently adopted by the SEC which permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the
SEC. 
 (g) “Holder” means any person owning of record Registrable Securities that have not been sold to the
public or any assignee of record of such Registrable Securities in accordance with Section 2.9 hereof. 
 (h) “Initial
Offering” means the Company’s first firm commitment underwritten public offering of its Common Stock registered under the Securities Act. 

(i) “IPO Price” means the price per share equal to the initial offering price to the public in the Initial
Offering. 
 (j) “IPO Shares” means the number of shares of Common Stock specified in each Purchaser Election
Notice (as defined below); provided that the IPO Shares for each Directed Purchaser shall not be more than the Maximum Purchaser IPO Shares. 

(k) “Maximum Purchaser IPO Shares” shall, for each Directed Purchaser, be a number of shares of Common Stock
(rounded down to the nearest whole share) equal to the proportion that the Common Stock issued or issuable upon conversion of Shares then held by a Directed Purchaser bears to the total Common Stock of the Company then outstanding (assuming full
conversion of all Shares then outstanding into Common Stock). 
 (l) “Person” means any individual, corporation,
partnership, trust, limited liability company, association or other entity. 
 (m) “Preferred Stock” means the
Company’s Series C-1 Preferred Stock, Series C-2 Non-Voting Preferred Stock, Series
D-1 Preferred Stock, Series D-2 Non-Voting Preferred Stock, Series E-1 Preferred Stock,
Series E-2 Non-Voting Preferred Stock, Series F-1 Preferred Stock and Series F-2
Preferred Stock. 

  
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 (n) “Register,” “registered,” and
“registration” refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of effectiveness of such registration statement or
document. 
 (o) “Registrable Securities” means (a) Common Stock of the Company issuable or issued upon
conversion of the Shares and (b) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange
for or in replacement of, such above-described securities. Notwithstanding the foregoing, Registrable Securities shall not include any securities (i) sold by a person to the public either pursuant to a registration statement or Rule 144 or
(ii) sold in a private transaction in which the transferor’s rights under Section 2 of this Agreement are not assigned. 

(p) “Registrable Securities then outstanding” shall be the number of shares of Registrable
Securities that either (a) are then issued and outstanding or (b) are issuable pursuant to then exercisable or convertible securities. 

(q) “Registration Expenses” shall mean all expenses incurred by the Company in complying with
Sections 2.2, 2.3 and 2.4 hereof, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel for the Company, reasonable fees and disbursements (exclusive of underwriting discounts and
commissions) not to exceed twenty thousand dollars ($20,000) of a single special counsel for the Holders, blue sky fees and expenses and the expense of any special audits incident to or required by any such registration (but excluding the
compensation of regular employees of the Company which shall be paid in any event by the Company). 
 (r) “Rule
144” means Rule 144 as promulgated by the SEC under the Securities Act, as amended from time to time, or any similar successor rule that may be promulgated by the SEC. 

(s) “SEC” means the Securities and Exchange Commission. 

(t) “Securities Act” shall mean the Securities Act of 1933, as amended. 

(u) “Selling Expenses” shall mean all underwriting discounts and selling commissions applicable to
the sale. 
 (v) “Shares” shall mean the Company’s Preferred Stock, as held from time to time by the
Investors listed on Exhibit A hereto and their permitted assigns. 
 (w) “Special Registration
Statement” shall mean (i) a registration statement relating to any employee benefit plan, (ii) with respect to any corporate reorganization or transaction under Rule 145 of the Securities Act, any registration statements
related to the issuance or resale of securities issued in such a transaction or (iii) a registration related to stock issued upon conversion of debt securities. 

  
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 SECTION 2. REGISTRATION; RESTRICTIONS ON TRANSFER. 

2.1 Restrictions on Transfer. 

(a) Each Holder agrees not to make any disposition of all or any portion of the Shares or Registrable Securities unless and until: 

(i) there is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition
is made in accordance with such registration statement; or 
 (ii) (A) the transferee has agreed in writing to be bound by the
terms of this Agreement, (B) such Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and (C) if
reasonably requested by the Company, such Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such shares under the Securities Act. It is
agreed that the Company will not require opinions of counsel for transactions made pursuant to Rule 144, except in unusual circumstances. After its Initial Offering, the Company will not require any transferee pursuant to Rule 144 to be bound by the
terms of this Agreement if the shares so transferred do not remain Registrable Securities hereunder following such transfer. 
 (b)
Notwithstanding the provisions of subsection (a) above, no such restriction shall apply to a transfer by a Holder that is (A) a partnership transferring to its partners or former partners in accordance with partnership interests,
(B) a corporation transferring to a wholly-owned subsidiary or a parent corporation that owns all of the capital stock of the Holder, (C) a limited liability company transferring to its members or former members in accordance with their
interest in the limited liability company, or (D) an individual transferring to an Affiliate of such Holder, or to Holder’s family member or trust for the benefit of an individual Holder; provided that in each case the transferee
will agree in writing to be subject to the terms of this Agreement to the same extent as if he were an original Holder hereunder. 

(c) Each certificate representing Shares or Registrable Securities shall be stamped or otherwise imprinted with legends substantially
similar to the following (in addition to any legend required under applicable state securities laws): 
 THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR UNLESS SUCH SALE,
PLEDGE, HYPOTHECATION OR TRANSFER IS MADE IN COMPLIANCE WITH RULE 144 OF THE ACT OR THE COMPANY, UPON ITS REASONABLE REQUEST, HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. 

  
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 THE SALE, PLEDGE, HYPOTHECATION OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS
CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT BY AND BETWEEN THE STOCKHOLDER AND THE COMPANY. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE
COMPANY. 
 (d) The Company shall be obligated to promptly reissue unlegended certificates at the request of any Holder thereof if the
Company has completed its Initial Offering and the Holder shall have obtained an opinion of counsel (which counsel may be counsel to the Company) reasonably acceptable to the Company to the effect that the securities proposed to be disposed of may
lawfully be so disposed of without registration, qualification and legend; provided, that the second legend listed above shall be removed only at such time as the Holder of such certificate is no longer subject to any restrictions hereunder.

 (e) Any legend endorsed on an instrument pursuant to applicable state securities laws and the stop-transfer instructions with
respect to such securities shall be removed upon receipt by the Company of an order of the appropriate blue sky authority authorizing such removal. 

2.2 Demand Registration. 

(a) Subject to the conditions of this Section 2.2, if the Company shall receive a written request from the Holders of at least
seventy-five percent (75%) of the Registrable Securities (the “Initiating Holders”) that the Company file a registration statement under the Securities Act covering the registration of at least a majority of the Registrable
Securities then outstanding (or a lesser percent if the anticipated aggregate offering price, net of underwriting discounts and commissions, would exceed $10,000,000), then the Company shall, within thirty (30) days of the receipt
thereof, give written notice of such request to all Holders, and subject to the limitations of this Section 2.2, effect, as expeditiously as reasonably possible, the registration under the Securities Act of all Registrable Securities that all
Holders request to be registered. 
 (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 Section 2.2(a) or any request pursuant to Section 2.4 and the Company shall include such information in the written notice
referred to in Section 2.2(a) or Section 2.4(a), as applicable. 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 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 Holders of a majority of the Registrable Securities held by all Initiating Holders (which underwriter or underwriters shall be reasonably acceptable to the
Company). Notwithstanding any other provision of this Section 2.2 or Section 2.4, if the underwriter advises the Company that marketing factors require a limitation of 

  
 5 

 
the number of securities to be underwritten (including 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 on a pro rata basis based on the number of Registrable Securities held by all such Holders (including
the Initiating Holders). Any Registrable Securities excluded or withdrawn from such underwriting shall be withdrawn from the registration. 

(c) The Company shall not be required to effect a registration pursuant to this Section 2.2: 

(i) prior to the second anniversary of the date of this Agreement; 

(ii) after the Company has effected one (1) registration pursuant to this Section 2.2, and such registration has been
declared or ordered effective; 
 (iii) during the period starting with the date of filing of, and ending on the date one hundred
eighty (180) days following the effective date of the registration statement pertaining to a public offering, other than pursuant to a Special Registration Statement; provided that the Company makes reasonable good faith efforts to cause
such registration statement to become effective; 
 (iv) if within thirty (30) days of receipt of a written request from
Initiating Holders pursuant to Section 2.2(a), the Company gives notice to the Holders of the Company’s intention to file a registration statement for a public offering, other than pursuant to a Special Registration Statement,
within ninety (90) days; 
 (v) if the Company shall furnish to Holders requesting a registration statement pursuant to this
Section 2.2 a certificate signed by the Chairman of the Board stating that in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company and its stockholders for such registration
statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than one hundred twenty (120) days after receipt of the request of the Initiating Holders; provided that
such right to delay a request shall be exercised by the Company not more than twice in any twelve (12) month period; 
 (vi) if
the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to Section 2.4 below; or 

(vii) 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. 
 2.3 Piggyback Registrations. The Company
shall notify all Holders of Registrable Securities in writing at least fifteen (15) days prior to the filing of any registration statement under the Securities Act for purposes of a public offering of securities of the Company
(including, but not limited to, registration statements relating to secondary offerings of securities of the Company, but excluding Special Registration Statements) and will afford each such Holder an opportunity to

  
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include in such registration statement all or part of such Registrable Securities held by such Holder. Each Holder desiring to include in any such registration statement all or any part of the
Registrable Securities held by it shall, within fifteen (15) days after the above-described notice from the Company, so notify the Company in writing. Such notice shall state the intended method of disposition of the Registrable Securities by
such Holder. If a Holder decides not to include all of its Registrable Securities in any registration statement thereafter filed by the Company, such Holder shall nevertheless continue to have the right to include any Registrable Securities in any
subsequent registration statement or registration statements as may be filed by the Company with respect to offerings of its securities, all upon the terms and conditions set forth herein. 

(a) Underwriting. If the registration statement of which the Company gives notice under this Section 2.3 is for an
underwritten offering, the Company shall so advise the Holders of Registrable Securities. In such event, the right of any such Holder to include Registrable Securities in a registration pursuant to this Section 2.3 shall be conditioned upon
such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their Registrable 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. Notwithstanding any other provision of this Agreement, if the Company determines in good
faith, based on consultation with the underwriter, that marketing factors require a limitation of the number of shares to be underwritten, the number of shares that may be included in the underwriting shall be allocated, first, to the Company;
second, to the Holders on a pro rata basis based on the total number of Registrable Securities held by the Holders; and third, to any stockholder of the Company (other than a Holder) on a pro rata basis; provided, however, that
no such reduction shall reduce the amount of securities of the selling Holders included in the registration below twenty five percent (25%) of the total amount of securities included in such registration, unless such offering is the Initial Offering
and such registration does not include shares of any other selling stockholders, in which event any or all of the Registrable Securities of the Holders may be excluded in accordance with the immediately preceding clause. If any Holder disapproves of
the terms of any such underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter, delivered at least ten (10) business days prior to the effective date of the registration statement. Any
Registrable Securities excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration. For any Holder which is a partnership, limited liability company or corporation, the partners, retired partners, members,
retired members and stockholders of such Holder, or the estates and family members of any such partners, retired partners, members and retired members and any trusts for the benefit of any of the foregoing person shall be deemed to be a single
“Holder,” and any pro rata reduction with respect to such “Holder” shall be based upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in such “Holder,”
as defined in this sentence. 
 (b) Right to Terminate Registration. The Company shall have the right to terminate or withdraw
any registration initiated by it under this Section 2.3 whether or not any Holder has elected to include securities in such registration. The Registration Expenses of such withdrawn registration shall be borne by the Company in accordance with
Section 2.5 hereof. 

  
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 2.4 Form S-3 Registration. In case the
Company shall receive from any Holder or Holders of at least thirty percent (30%) of the Registrable Securities a written request or requests that the Company effect a registration on Form S-3 (or any
successor to Form S-3) or any similar short-form registration statement and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or
Holders, the Company will: 
 (a) promptly give written notice of the proposed registration, and any related qualification or
compliance, to all other Holders of Registrable Securities; and 
 (b) as soon as practicable, effect such registration and all such
qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable Securities as are specified in such request, together with
all or such portion of the Registrable Securities of any other Holder or Holders joining in such request as are specified in a written request given within fifteen (15) days after receipt of such written notice from the Company; provided,
however, that the Company shall not be obligated to effect any such registration, qualification or compliance pursuant to this Section 2.4: 

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

(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 of less than five million dollars ($5,000,000), or 

(iii) if within thirty (30) days of receipt of a written request from any Holder or Holders pursuant to this Section 2.4, the
Company gives notice to such Holder or Holders of the Company’s intention to make a public offering within ninety (90) days, other than pursuant to a Special Registration Statement, or 

(iv) if the Company shall furnish to the Holders a certificate signed by the Chairman of the Board of Directors of the Company stating
that in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company and its stockholders for such Form S-3 registration to be effected at such time,
in which event the Company shall have the right to defer the filing of the Form S-3 registration statement for a period of not more than one hundred twenty (120) days after receipt of the request of
the Holder or Holders under this Section 2.4; provided, that such right to delay a request shall be exercised by the Company not more than twice in any twelve (12) month period, or 

(v) if the Company has already effected two (2) registrations on
Form S-3 for the Holders pursuant to this Section 2.4, or 
 (vi) 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. 

  
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 (c) Subject to the foregoing, the Company shall file a
Form S-3 registration statement covering the Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the requests of the Holders. Registrations
effected pursuant to this Section 2.4 shall not be counted as demands for registration or registrations effected pursuant to Section 2.2. All Registration Expenses incurred in connection with registrations requested pursuant to this
Section 2.4 after the first two (2) registrations shall be paid by the selling Holders pro rata in proportion to the number of shares to be sold by each such Holder in any such registration. 

2.5 Expenses of Registration. Except as specifically provided herein, all Registration Expenses incurred in connection with any
registration, qualification or compliance pursuant to Section 2.2, 2.3 or 2.4 herein shall be borne by the Company. All Selling Expenses incurred in connection with any registrations hereunder, shall be borne by the holders of the securities so
registered pro rata on the basis of the number of shares so registered. The Company shall not, however, be required to pay for expenses of any registration proceeding begun pursuant to Section 2.2 or 2.4, the request of which has been
subsequently withdrawn by the Initiating Holders unless (a) the withdrawal is based upon material adverse information concerning the Company of which the Initiating Holders were not aware at the time of such request or (b) the Holders of a
majority of Registrable Securities agree to deem such registration to have been effected as of the date of such withdrawal for purposes of determining whether the Company shall be obligated pursuant to Section 2.2(c) or 2.4(b)(v), as
applicable, to undertake any subsequent registration, in which event such right shall be forfeited by all Holders. If the Holders are required to pay the Registration Expenses, such expenses shall be borne by the holders of securities (including
Registrable Securities) requesting such registration in proportion to the number of shares for which registration was requested. If the Company is required to pay the Registration Expenses of a withdrawn offering pursuant to clause (a) above,
then such registration shall not be deemed to have been effected for purposes of determining whether the Company shall be obligated pursuant to Section 2.2(c) or 2.4(b)(v), as applicable, to undertake any subsequent registration. 

2.6 Obligations of the Company. Whenever required 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 all reasonable efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep such registration statement effective
for up to thirty (30) days or, if earlier, until the Holder or Holders have completed the distribution related thereto; provided, however, that at any time, upon written notice to the participating Holders and for a period not to exceed ninety
(90) days thereafter (the “Suspension Period”), the Company may delay the filing or effectiveness of any registration statement or suspend the use or effectiveness of any registration statement (and the Initiating
Holders hereby agree not to offer or sell any Registrable Securities pursuant to such registration statement during the Suspension Period) if the Company reasonably believes that there is or may be in existence material nonpublic information or
events involving the Company, the failure of which to be disclosed in the prospectus included in the registration statement could result in a Violation (as defined below) and that (i) would be required to be made in any registration statement
filed with the SEC by the Company so that such registration statement would not be materially misleading; (ii) would not be required to be made at such time but for the filing, effectiveness or continued use of such registration statement and
(iii) the Company has a bona fide business purpose for not disclosing publicly. In the event that the Company shall exercise its right 

  
 9 

 
to delay or suspend the filing or effectiveness of a registration hereunder, the applicable time period during which the registration statement is to remain effective shall be extended by a
period of time equal to the duration of the Suspension Period. The Company may extend the Suspension Period for an additional consecutive sixty (60) days with the consent of the holders of a majority of the Registrable Securities
registered under the applicable registration statement, which consent shall not be unreasonably withheld. No more than two (2) such Suspension Periods shall occur in any twelve (12) month period. If so directed by the Company, all Holders
registering shares under such registration statement shall (i) not offer to sell any Registrable Securities pursuant to the registration statement during the period in which the delay or suspension is in effect after receiving notice of such
delay or suspension; and (ii) use their best efforts to deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such Holders’ possession, of the prospectus relating to such Registrable
Securities current at the time of receipt of such notice. Notwithstanding the foregoing, the Company shall not be required to file, cause to become effective or maintain the effectiveness of any registration statement other than a registration
statement on Form S-3 that contemplates a distribution of securities on a delayed or continuous basis pursuant to Rule 415 under the Securities Act. 

(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 Securities Act with respect to the disposition of all securities covered by such registration statement for the period set forth in subsection (a) above.

 (c) Furnish to the Holders such number of copies of a prospectus, including a preliminary prospectus, in conformity with the
requirements of the Securities 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 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(s) of such offering. Each Holder participating in such underwriting shall also enter into and perform its obligations under such an
agreement. 
 (f) Notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus
relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. The Company will use reasonable efforts to amend or supplement such prospectus
in order to cause such prospectus not to include any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then
existing. 

  
 10 

 (g) Use its reasonable efforts to furnish, on the date that such Registrable
Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration, in form and
substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and (ii) a letter, dated as of such date, from the independent certified public accountants of the Company, in form and
substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering addressed to the underwriters. 

2.7 Delay of Registration; Furnishing Information. 

(a) 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. 
 (b) It shall be a
condition precedent to the obligations of the Company to take any action pursuant to Section 2.2, 2.3 or 2.4 that the selling Holders shall furnish to the Company such information regarding themselves, the Registrable Securities held by them
and the intended method of disposition of such securities as shall be required to effect the registration of their Registrable Securities. 

(c) The Company shall have no obligation with respect to any registration requested pursuant to Section 2.2 or Section 2.4 if
the number of shares or the anticipated aggregate offering price of the Registrable Securities to be included in the registration does not equal or exceed the number of shares or the anticipated aggregate offering price required to originally
trigger the Company’s obligation to initiate such registration as specified in Section 2.2 or Section 2.4, whichever is applicable. 

2.8 Indemnification. In the event any Registrable Securities are included in a registration statement under Sections 2.2,
2.3 or 2.4: 
 (a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, the partners, members,
officers and directors of each Holder, any underwriter (as defined in the Securities Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any
losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a “Violation”) by the Company: (i) any untrue statement or alleged untrue statement of a material fact
contained in such registration statement or incorporated reference therein, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state
therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company 

  
 11 

 
of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law in connection with
the offering covered by such registration statement; and the Company will reimburse each such Holder, partner, member, officer, director, underwriter or controlling person for any legal or other expenses reasonably incurred by them in connection
with investigating or defending any such loss, claim, damage, liability or action; 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 or action if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable in any such case for any such loss, claim, damage, liability or action
to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by such Holder, partner, member, officer,
director, underwriter or controlling person of such Holder. 
 (b) To the extent permitted by law, each Holder will, if Registrable
Securities held by such Holder are included in the securities as to which such registration qualifications or compliance is being effected, indemnify and hold harmless the Company, each of its directors, its officers and each person, if any, who
controls the Company within the meaning of the Securities Act, any underwriter and any other Holder selling securities under such registration statement or any of such other Holder’s partners, directors or officers or any person who controls
such Holder, against any losses, claims, damages or liabilities (joint or several) to which the Company or any such director, officer, controlling person, underwriter or other such Holder, or partner, director, officer or controlling person of such
other Holder may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any of the following
statements: (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement or incorporated reference therein, including any preliminary prospectus or final prospectus contained therein or any
amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged
violation by the Company of the Securities Act (collectively, a “Holder Violation”), in each case to the extent (and only to the extent) that such Holder Violation occurs in reliance upon and in conformity with written
information furnished by such Holder under an instrument duly executed by such Holder and stated to be specifically for use in connection with such registration; and each such Holder will reimburse any legal or other expenses reasonably incurred by
the Company or any such director, officer, controlling person, underwriter or other Holder, or partner, officer, director or controlling person of such other Holder in connection with investigating or defending any such loss, claim, damage,
liability or action if it is judicially determined that there was such a Holder Violation; 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 or action if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; provided further, that in no event shall any indemnity under this Section 2.8 exceed
the net proceeds from the offering received by such Holder. 

  
 12 

 (c) Promptly after receipt by an indemnified party under this Section 2.8 of
notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 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 shall have the right to retain its own counsel, with the fees and expenses thereof to be paid by the indemnifying party, if representation
of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The
failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.8 to the extent,
and only to the extent, prejudicial to its ability to defend such action, but the omission so to deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under
this Section 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 losses, claims, damages or liabilities referred to herein, the indemnifying party, in lieu of indemnifying such indemnified party thereunder, shall to the extent permitted by
applicable law contribute to the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and
of the indemnified party on the other in connection with the Violation(s) or Holder Violation(s) that resulted in such loss, claim, damage or liability, as well as any other relevant equitable considerations. The relative fault of the indemnifying
party and of the indemnified party shall be determined by a court of law by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied
by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission; provided, that in no event shall any
contribution by a Holder hereunder exceed the net proceeds from the offering received by such Holder. 
 (e) The obligations of the
Company and Holders under this Section 2.8 shall survive completion of any offering of Registrable Securities in a registration statement and, with respect to liability arising from an offering to which this Section 2.8 would apply that is
covered by a registration filed before termination of this Agreement, such termination. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment
or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. 

2.9 Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this
Section 2 may be assigned by a Holder to a transferee or assignee of Registrable Securities (for so long as such shares remain Registrable Securities) that (a) is a partner, retired partner or affiliated fund of a Holder that is a
partnership, (b) is a member or former member of a Holder that is a limited liability company, (c) is an Affiliate of Holder or a Holder’s family member or trust for the benefit of an individual Holder, or (d) holds at least
1,000,000 Shares (a “Major Investor”); provided, however, (i) the transferor shall, within ten (10) 

  
 13 

 
days after such transfer, furnish to the Company 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 and (ii) such transferee shall agree to be subject to all restrictions set forth in this Agreement. 
 2.10
Limitation on Subsequent Registration Rights. Other than as provided in Section 6.10, after the date of this Agreement, the Company shall not enter into any agreement with any holder or prospective holder of any securities of the Company
that would grant such holder rights to demand the registration of shares of the Company’s capital stock, or to include such shares in a registration statement that would reduce the number of shares includable by the Holders. 

2.11 “Market Stand-Off” Agreement. Each Holder hereby
agrees that such Holder shall not sell, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any Common Stock (or other securities) of the
Company held by such Holder immediately before the effective date of the registration statement for the applicable offering during the 180-day period following the effective date of the Initial Offering (or
such longer period, as the underwriters or the Company shall request in order to facilitate compliance with FINRA Rule 2241 or any successor or similar rule or regulation); provided, that, with respect to the above, all officers and directors of the
Company and holders of at least one percent (1%) of the Company’s voting securities, voting as a single class on an as-if converted to Common Stock (as defined in the Certificate) basis, are bound by and
have entered into similar agreements. The obligations described in this Section 2.11 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a transaction on Form S-4 or similar forms that may be promulgated in the
future. Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata to all Holders subject to such agreements, based on the number of shares subject to such
agreements. 
 2.12 Agreement to Furnish Information. Each Holder agrees to execute and deliver such other agreements as may be
reasonably requested by the Company or the managing underwriters that are consistent with the Holder’s obligations under Section 2.11 or that are necessary to give further effect thereto. In addition, if requested by the Company or the
representative of the underwriters of Common Stock (or other securities) of the Company, each Holder shall provide, within ten (10) days of such request, such information as may be required by the Company or such representative in connection
with the completion of any public offering of the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described in Section 2.11 and this Section 2.12 shall not apply to a Special
Registration Statement. The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said day period. Each Holder agrees that any transferee
of any shares of Registrable Securities shall be bound by Sections 2.11 and 2.12. The underwriters of the Company’s stock are intended third party beneficiaries of Sections 2.11 and 2.12 and shall have the right, power and authority to
enforce the provisions hereof as though they were a party hereto. 

  
 14 

 2.13 Rule 144 Reporting. With a view to making available to the Holders the
benefits of certain rules and regulations of the SEC which may permit the sale of the Registrable Securities to the public without registration, the Company agrees to use its best efforts to: 

(a) Make and keep public information available, as those terms are understood and defined in SEC Rule 144 or any similar or
analogous rule promulgated under the Securities Act, at all times after the effective date of the first registration filed by the Company for an offering of its securities to the general public; 

(b) File with the SEC, in a timely manner, all reports and other documents required of the Company under the Exchange Act; and 

(c) So long as a Holder owns any Registrable Securities, furnish to such Holder forthwith upon request: a written statement by the
Company as to its compliance with the reporting requirements of said Rule 144 of the Securities Act, and of the Exchange Act (at any time after it has become subject to such reporting requirements); a copy of the most recent annual or quarterly
report of the Company filed with the SEC; and such other reports and documents as a Holder may reasonably request in connection with availing itself of any rule or regulation of the SEC allowing it to sell any such securities without registration.

 2.14 Maintained Shelf Registration. In connection with its Initial Offering, the Company shall agree to enter into an
agreement with any Holder who may be deemed an “Affiliate” as defined under Rule 405 of the Securities Act of 1933, to provide for a maintained selling shareholder shelf registration. 

2.15 Termination of Registration Rights. The right of any Holder to request registration or inclusion of Registrable Securities
in any registration pursuant to Section 2.2, Section 2.3, or Section 2.4 hereof shall terminate upon the earlier of: (i) upon a deemed “Liquidation Event” as defined in the Certificate; or (ii) such
time as the Company has completed its Initial Offering and all Registrable Securities of the Company issuable or issued upon conversion of the Shares held by and issuable to such Holder (and its affiliates) may be sold pursuant to Rule 144 without
restrictions on volume of shares sold and frequency of sales or compliance with Rule 144(c)(1) during any ninety (90) day period. Upon such termination, such shares shall cease to be “Registrable Securities” hereunder for all
purposes. 
 SECTION 3. COVENANTS OF THE COMPANY. 

3.1 Basic Financial Information and Reporting. 

(a) The Company will maintain true books and records of account in which full and correct entries will be made of all its business
transactions pursuant to a system of accounting established and administered in accordance with generally accepted accounting principles consistently applied (except as noted therein or as disclosed to the recipients thereof), and will set aside on
its books all such proper accruals and reserves as shall be required under generally accepted accounting principles consistently applied. 

  
 15 

 (b) To the extent requested by a Major Investor: 

(i) As soon as practicable after the end of each fiscal year of the Company, and in any event within one hundred twenty
(120) days thereafter, the Company will furnish such Investor a balance sheet of the Company, as at the end of such fiscal year, and a statement of income and a statement of cash flows of the Company, for such year, setting forth in each
case in comparative form the figures for the previous fiscal year, all in reasonable detail, all such financial statements audited and certified by independent public accountants of nationally recognized standing selected by the Company; 

(ii) The Company will furnish such Major Investor, as soon as practicable after the end of the first, second and third quarterly
accounting periods in each fiscal year of the Company, and in any event within forty-five (45) days thereafter, a balance sheet of the Company as of the end of each such quarterly period, and a statement of income and a statement
of cash flows of the Company for such period and for the current fiscal year to date; each of which will be unaudited and prepared in good faith by the management of the Company; and 

(iii) The Company will furnish each such Major Investor at least thirty (30) days prior to the beginning of each fiscal year an
annual budget and operating plans for such fiscal year (and as soon as available, any subsequent written revisions thereto). 
 3.2
Inspection Rights. Each Major Investor shall have the right to visit and inspect any of the properties of the Company or any of its subsidiaries, and to discuss the affairs, finances and accounts of the Company or any of its subsidiaries with
its officers, and to review such information as is reasonably requested all at such reasonable times and as often as may be reasonably requested; provided, however, that the Company shall not be obligated under this Section 3.2 with
respect to a competitor of the Company or with respect to information which the Board of Directors determines in good faith is confidential or attorney-client privileged and should not, therefore, be disclosed. 

3.3 Confidentiality of Records. Each Investor agrees to use the same degree of care as such Investor uses to protect its own
confidential information to keep confidential any information furnished to such Investor pursuant to Section 3.1 and 3.2 hereof that the Company identifies as being confidential or proprietary (so long as such information is not in the public
domain), except that such Investor may disclose such proprietary or confidential information (i) to any partner, subsidiary or parent of such Investor as long as such partner, subsidiary or parent is advised of and agrees or has agreed to be
bound by the confidentiality provisions of this Section 3.3 or comparable restrictions; (ii) at such time as it enters the public domain through no fault of such Investor; (iii) that is communicated to it free of any obligation of
confidentiality; (iv) that is developed by Investor or its agents independently of and without reference to any confidential information communicated by the Company; or (v) as required by applicable law. 

3.4 Reservation of Common Stock. The Company will at all times reserve and keep available, solely for issuance and delivery upon
the conversion of the Shares, all Common Stock issuable from time to time upon such conversion. 

  
 16 

 3.5 Proprietary Information and Inventions Agreement. The Company shall
require all employees and consultants to execute and deliver a Proprietary Information and Inventions Agreement substantially in a form approved by the Company’s counsel or Board of Directors. 

3.6 Directors’ Liability and Indemnification. The Certificate and bylaws of the Company shall provide
(a) for elimination of the liability of director to the maximum extent permitted by law and (b) for indemnification of directors for acts on behalf of the Company to the maximum extent permitted by law. 

3.7 Termination of Covenants. All covenants of the Company contained in Section 3 of this Agreement shall expire and
terminate as to each Investor upon the earlier of (i) the effective date of the registration statement pertaining to an Initial Offering, (ii) winding up of the Company, or (iii) an “Acquisition” as defined in
the Certificate . 
 SECTION 4. RIGHTS OF FIRST REFUSAL. 

4.1 Subsequent Offerings. Subject to applicable securities laws, each Major Investor shall have a right of first refusal to
purchase its pro rata share of all Equity Securities, as defined below, that the Company may, from time to time, propose to sell and issue after the date of this Agreement, other than the Equity Securities excluded by Section 4.7 hereof;
provided, however, that each Major Investor may elect to receive some or all of its pro rata share of the Equity Securities in shares of a non-voting series thereof. Each Major
Investor’s pro rata share is equal to the ratio of (a) the number of shares of the Company’s Common Stock (including all shares of Common Stock issuable or issued upon conversion of the Shares or upon the exercise of
outstanding warrants or options) of which such Major Investor is deemed to be a holder immediately prior to the issuance of such Equity Securities to (b) the total number of shares of the Company’s outstanding Common Stock (including all
shares of Common Stock issued or issuable upon conversion of the Shares or upon the exercise of any outstanding warrants or options that are in the money) immediately prior to the issuance of the Equity Securities. The term “Equity
Securities” shall mean (i) any Common Stock, preferred stock of the Company or other security of the Company, (ii) any security convertible into or exercisable or exchangeable for, with or without consideration, any Common
Stock, preferred stock of the Company or other security (including any option to purchase such a convertible security), (iii) any security carrying any warrant or right to subscribe to or purchase any Common Stock, preferred stock of the
Company or other security or (iv) any such warrant or right. 
 4.2 Exercise of Rights. If the Company proposes to issue
any Equity Securities, it shall give each Major Investor written notice of its intention, describing the Equity Securities, the price and the terms and conditions upon which the Company proposes to issue the same. Each Major Investor shall have
fifteen (15) days from the giving of such notice to agree to purchase its pro rata share of the Equity Securities for the price and upon the terms and conditions specified in the notice by giving written notice to the Company and
stating therein the quantity of Equity Securities to be purchased. Notwithstanding the foregoing, the Company shall not be required to offer or sell such Equity Securities to any Major Investor who would cause the Company to be in violation of
applicable federal securities laws by virtue of such offer or sale. 

  
 17 

 4.3 Issuance of Equity Securities to Other Persons. If not all of the Major
Investors elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Major Investors who do so elect and shall offer such Major Investors the right to acquire such unsubscribed
shares and, to the extent such Major Investors apply to purchase more than the amount of undersubscribed shares, such Major Investors shall be offered the right to acquire such unsubscribed shares on a pro rata basis based on the amount of
Equity Securities that such Major Investors’ own immediately prior to the proposed issuance. The Major Investors shall have five (5) days after receipt of such notice to notify the Company of its election to purchase all or a portion
thereof of the unsubscribed shares. The Company shall have ninety (90) days thereafter to sell the Equity Securities in respect of which the Major Investor’s rights were not exercised, at a price and upon general terms and
conditions not materially more favorable to the purchasers thereof than specified in the Company’s notice to the Major Investors pursuant to Section 4.2 hereof. If the Company has not sold such Equity Securities within ninety
(90) days of the notice provided pursuant to Section 4.2, the Company shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Major Investors in the manner provided above. 

4.4 Sale Without Notice. In lieu of giving notice to the Major Investors prior to the issuance of Equity Securities as provided
in Section 4.2, the Company may elect to give notice to the Major Investors within thirty (30) days after the issuance of Equity Securities. Such notice shall describe the type, price and terms of the Equity Securities. Each Major Investor
shall have twenty (20) days from the date of receipt of such notice to elect to purchase up to the number of shares that would, if purchased by such Major Investor, maintain such Major Investor’s pro rata share (as set forth in
Section 4.1) of the Company’s equity securities. The closing of such sale shall occur within sixty (60) days of the date of notice to the Major Investors. 

4.5 Termination and Waiver of Rights of First Refusal. The rights of first refusal established by this Section 4 shall not
apply to, and shall terminate upon the earlier of (i) the effective date of the registration statement pertaining to the Company’s Initial Offering or (ii) an Acquisition. Notwithstanding Section 6.5 hereof, the rights of first
refusal established by this Section 4 may be amended, or any provision waived with and only with the written consent of the Company and the Major Investors holding a majority of the Registrable Securities held by all Major
Investors, or as permitted by Section 6.5. 
 4.6 Assignment of Rights of First Refusal. The rights of first refusal of
each Investor under this Section 4 may be assigned to the same parties, subject to the same restrictions as any transfer of registration rights pursuant to Section 2.9. 

4.7 Excluded Securities. The rights of first refusal established by this Section 4 shall have no application to any of the
following Equity Securities: 
 (a) Any Equity Securities excluded from the definition of “Additional Shares of Common
Stock” in Article IV (D)(3)(h)(v) of the Certificate, as amended from time. 
 (b) any Equity Securities issued in connection
with any stock split, stock dividend or recapitalization by the Company; 
 (c) any Equity Securities that are issued by the Company
pursuant to a registration statement filed under the Securities Act; and 

  
 18 

 (d) any Equity Securities issued by the Company in an Additional Closing (as defined
in the Purchase Agreement). 
 SECTION 5. IPO SHARES 

5.1 Upon the closing of the Initial Offering, each of the Directed Purchasers may elect to purchase (each, a “Directed
Purchaser Option”), in which case the Company shall sell and issue to the Directed Purchaser, the IPO Shares. The IPO Shares will be sold by the Company and purchased by each Directed Purchaser at a purchase price per share equal the
IPO Price. The IPO Shares shall, subject to the determination by the Company, with the advice of counsel, that such offer and/or sale does not violate applicable law, be registered by the Company for sale by the underwriters to the Directed
Purchasers pursuant to the registration statement filed under the Securities Act in connection with the Initial Offering. Should either the Company not be permitted to offer to the Directed Purchasers all of the IPO Shares as an allotment in the
Initial Offering, or the Directed Purchasers not be able to purchase all of the IPO Shares as an allotment in the Initial Offering, in either case as a result of the applicable law, then, at each Directed Purchaser’s option, such Directed
Purchaser shall instead purchase from the Company, and the Company shall sell to each such Directed Purchaser in a private placement (the “Private Placement”), concurrently with the Initial Offering, the portion of the IPO
Shares that is not included as an allotment in the Initial Offering at the IPO Price, with the result that the IPO Shares purchased in the Initial Offering and the IPO Shares purchased in the Private Placement shall, in the aggregate, equal the
Maximum IPO Purchaser IPO Shares. 
 5.2 Notwithstanding the foregoing, the foregoing obligations of the Company to sell IPO Shares in
connection with the Directed Purchaser Option shall terminate on the earlier of (i) the closing of a deemed Liquidation Event; and (ii) the consummation of a Qualified Public Offering (as defined in the Certificate) and satisfaction of the
obligations of the Company set forth in Section 5 of this Agreement. 
 5.3 At least ten (10) business days prior to the
closing of the Initial Offering, the Company will provide written notice of such closing to each Directed Purchaser (each, an “IPO Notice”), which such IPO Notice will (i) include estimates of the IPO Price and the
Maximum Purchaser IPO Shares and (ii) specify the estimated number of shares available for sale in the Initial Offering and, if applicable, the estimated number of shares available for sale in the Private Placement. Prior to the sixth (6th)
business day after receipt of an IPO Notice, each Directed Purchaser shall provide written notice to the Company (each, a “Purchaser Election Notice”) of whether such Directed Purchaser elects to exercise its Purchaser Option
and, if so, the number of shares of Common Stock that will constitute the IPO Shares, up to the Maximum Purchaser IPO Shares. If the Purchaser does not deliver the Purchaser Election Notice prior to the sixth (6th) business day after its receipt of
the IPO Notice, the IPO Shares will equal zero. Promptly following the determination of the IPO Price, the Company shall notify each Directed Purchaser of the IPO Price and the number of IPO Shares, determined in accordance with this
Section 5.3. The purchase and sale of the IPO Shares (both in the Initial Offering and, if applicable, the Private Placement) shall take place on the day of such closing of the Initial Offering, at such time and place as the Company and the
Directed Purchasers mutually agree upon orally or in writing (which time and place are hereby designated as the “IPO Closing”). At the IPO Closing, the Company shall deliver to each Directed Purchaser a certificate
representing the IPO Shares against payment of the purchase price therefor by wire transfer. 

  
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 5.4 Notwithstanding the foregoing, in the event that any authorization, approval or
permit of any governmental authority or regulatory body of the United States or of any other applicable jurisdiction is required in connection with the issuance of the IPO Shares at the IPO Closing, then the Company and the Directed Purchasers
hereto shall use commercially reasonable efforts to promptly obtain such authorizations, approvals and permits, and the IPO Closing shall take place within three (3) business days after all such authorizations, approvals and permits have been
obtained. 
 SECTION 6. MISCELLANEOUS. 

6.1 Governing Law. This Agreement shall be governed by and construed under the laws of the State of Delaware in all
respects as such laws are applied to agreements among Delaware residents entered into and to be performed entirely within Delaware, without reference to conflicts of laws or principles thereof. The parties agree that any action brought by either
party under or in relation to this Agreement, including without limitation to interpret or enforce any provision of this Agreement, shall be brought in, and each party agrees to and does hereby submit to the jurisdiction and venue of, the Court of
Chancery of the State of Delaware (or, if the Court of Chancery does not have jurisdiction, the federal district court for the District of Delaware). 

6.2 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of,
and be binding upon, the parties hereto and their respective successors, assigns, heirs, executors, and administrators and shall inure to the benefit of and be enforceable by each person who shall be a holder of Registrable Securities from time to
time; provided, however, that prior to the receipt by the Company of adequate written notice of the transfer of any Registrable Securities specifying the full name and address of the transferee, the Company may deem and treat the person
listed as the holder of such shares in its records as the absolute owner and holder of such shares for all purposes, including the payment of dividends or any redemption price. 

6.3 Entire Agreement. This Agreement, the Exhibits and Schedules hereto, the Purchase Agreement and the other documents delivered
pursuant thereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and no party shall be liable or bound to any other in any manner by any oral or written representations, warranties,
covenants and agreements except as specifically set forth herein and therein. Each party expressly represents and warrants that it is not relying on any oral or written representations, warranties, covenants or agreements outside of this Agreement.

 6.4 Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision
had never been contained herein. 

  
 20 

 6.5 Amendment and Waiver. 

(a) Except as otherwise expressly provided, this Agreement may be amended or modified, and the obligations of the Company and the rights
of the Holders under this Agreement may be waived, only upon the written consent of the Company and the holders of at least majority of the then-outstanding Registrable Securities. 

(b) For the purposes of determining the number of Holders or Investors entitled to vote or exercise any rights hereunder, the Company
shall be entitled to rely solely on the list of record holders of its stock as maintained by or on behalf of the Company. 
 6.6
Delays or Omissions. It is agreed that no delay or omission to exercise any right, power, or remedy accruing to any party, upon any breach, default or noncompliance by another party under this Agreement shall impair any such right, power, or
remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit,
consent, or approval of any kind or character on any party’s part of any breach, default or noncompliance under the Agreement or any waiver on such party’s part of any provisions or conditions of this Agreement must be in writing and shall
be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, by law, or otherwise afforded to any party, shall be cumulative and not alternative. 

6.7 Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (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
communications shall be sent to the party to be notified at the address as set forth on the signature pages hereof or Exhibit A hereto or at such other address or e-mail address as such party may
designate by ten (10) days advance written notice to the other parties hereto. 
 6.8 Attorneys’ Fees.
In the event that any suit or action is instituted under or in relation to this Agreement, including without limitation to enforce any provision in this Agreement, the prevailing party in such dispute shall be entitled to recover from the losing
party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without
limitation, all fees, costs and expenses of appeals. 
 6.9 Titles and Subtitles. The titles of the sections and subsections of
this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 
 6.10 Additional
Investors. Notwithstanding anything to the contrary contained herein, if the Company shall issue additional shares of its preferred stock pursuant to the Purchase Agreement, any purchaser of such shares of preferred stock shall become a party to
this Agreement by executing and delivering an additional counterpart signature page to this Agreement and shall be deemed an “Investor,” a “Holder” and a party hereunder. Notwithstanding anything to
the contrary contained herein, if the Company shall issue Equity Securities in accordance with Section 4.7(d) of this Agreement, any purchaser of such Equity Securities may become a party to this Agreement by executing and delivering an
additional counterpart signature page to this Agreement and shall be deemed an “Investor,” a “Holder” and a party hereunder. 

  
 21 

 6.11 Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be an original, but all of which together shall constitute one instrument. 
 6.12 Aggregation of
Stock. All shares of Registrable Securities held or acquired by affiliated entities or persons or persons or entities under common management or control shall be aggregated together for the purpose of determining the availability of any rights
under this Agreement. 
 6.13 Pronouns. All pronouns contained herein, and any variations thereof, shall be deemed to refer to
the masculine, feminine or neutral, singular or plural, as to the identity of the parties hereto may require. 
 6.14
Termination. This Agreement shall terminate and be of no further force or effect immediately before the earlier of the consummation of (i) an Acquisition; or (ii) the Initial Offering. 

6.15 Amendment and Restatement of Prior Agreement. The Prior Agreement is hereby amended in its entirety and restated herein.
Such amendment and restatement is effective upon the execution of this Agreement by the parties required for amendment pursuant to Section 6.5 of the Prior Agreement. Upon such execution, all provisions of, rights granted and covenants made in
the Prior Agreement are hereby waived, released and superseded in their entirety and shall have no further force or effect, including, without limitation, all rights of first refusal and any notice period associated therewith otherwise applicable to
the transactions contemplated by the Purchase Agreement. 
 [THIS SPACE INTENTIONALLY LEFT BLANK] 

  
 22 

 IN WITNESS WHEREOF, the parties hereto
have executed this AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 

 

			
	COMPANY:
	
	TALIS BIOMEDICAL CORPORATION
		
	By:	 	 /s/ Brian Coe

		 	Brian Coe
		 	Chief Executive Officer

 AMENDED AND RESTATED INVESTOR
RIGHTS AGREEMENT 
 SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto
have executed this AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 

 

			
	INVESTORS:
	
	667, L.P.
	BY: BAKER BROS. ADVISORS LP, management company and investment adviser to 667, L.P., pursuant to authority granted to it by Baker Biotech Capital, L.P., general partner to 667, L.P., and not as the general
partner.
		
	By:	 	 /s/ Scott Lessing

	Scott Lessing
	President
	
	BAKER BROTHERS LIFE SCIENCES, L.P.
	By: BAKER BROS. ADVISORS LP, management company and investment adviser to Baker Brothers Life Sciences, L.P., pursuant to authority granted to it by Baker Brothers Life Sciences Capital, L.P., general
partner to Baker Brothers Life Sciences, L.P., and not as the general partner.
		
	By:	 	 /s/ Scott Lessing

	Scott Lessing
	President

 AMENDED AND RESTATED INVESTOR
RIGHTS AGREEMENT SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto
have executed this AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 

 

			
	INVESTOR:
	
	BOXER CAPITAL, LLC
		
	By:	 	 /s/ Aaron Davis

	Name:	 	Aaron Davis
	Title:	 	Chief Executive Officer

 AMENDED AND RESTATED INVESTOR
RIGHTS AGREEMENT 
 SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto
have executed this AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 

 

	
	INVESTOR:
	
	 Popovits 2010 Trust

	Name of Investor
	
	 /s/ Kimberly J. Popovits

	(Signature)
	
	 Kimberly J. Popovits

	Name of Signing Party (Please Print)
	
	 Trustee

	Title of Signing Party (if applicable) (Please Print)

 AMENDED AND RESTATED INVESTOR
RIGHTS AGREEMENT 
 SIGNATURE PAGE 

 IN WITNESS WHEREOF, the parties hereto
have executed this AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof. 

 

			
	INVESTOR:
	
	RANDAL W. SCOTT AND EILEEN M. SCOTT, TRUSTEES OF THE OG FAMILY
TRUST, U/D/T MAY 30, 2014
		
	By:	 	 /s/ Randy Scott

	Name:	 	Randal Scott
	Title:	 	Trustee

 AMENDED AND RESTATED INVESTOR
RIGHTS AGREEMENT 
 SIGNATURE PAGE 

 EXHIBIT A 

SCHEDULE OF INVESTORS

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