Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 CONFIDENTIAL 

SERIES A PREFERRED STOCK PURCHASE AGREEMENT 

November 8, 2021 

by and among 
 TPI
COMPOSITES, INC., 
 OAKTREE POWER OPPORTUNITIES FUND V (DELAWARE) HOLDINGS, L.P., 

OPPS TPIC HOLDINGS, LLC, 

and 
 OAKTREE PHOENIX
INVESTMENT FUND, L.P. 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 1.   Purchase and Sale of Preferred Stock
	  	 	1	 
		
	 1.1  Sale and Issuance of Series A Preferred Stock
	  	 	1	 
	 1.2  Closing; Delivery
	  	 	1	 
	 1.3  Use of Proceeds
	  	 	2	 
	 1.4  Defined Terms Used in this Agreement
	  	 	2	 
		
	 2.   Representations and Warranties of the Company
	  	 	9	 
		
	 2.1  Organization, Good Standing, Corporate Power and Qualification
	  	 	9	 
	 2.2  Capitalization
	  	 	9	 
	 2.3  Subsidiaries
	  	 	11	 
	 2.4  Authorization
	  	 	11	 
	 2.5  Valid Issuance of Shares
	  	 	11	 
	 2.6  Governmental Consents and Filings
	  	 	12	 
	 2.7  Litigation
	  	 	12	 
	 2.8  Intellectual Property
	  	 	12	 
	 2.9  Compliance with Other Instruments
	  	 	13	 
	 2.10  Agreements; Actions
	  	 	13	 
	 2.11  Certain Transactions
	  	 	14	 
	 2.12  Rights of Registration and Voting Rights
	  	 	14	 
	 2.13  Property
	  	 	14	 
	 2.14  SEC Documents; Financial Statements
	  	 	14	 
	 2.15  Internal Accounting and Disclosure Controls
	  	 	15	 
	 2.16  Changes
	  	 	16	 
	 2.17  No Undisclosed Events, Liabilities, Developments or Circumstances
	  	 	16	 
	 2.18  Employee Matters
	  	 	16	 
	 2.19  Tax Returns and Payments
	  	 	18	 
	 2.20  Employee Agreements
	  	 	18	 
	 2.21  Permits
	  	 	18	 
	 2.22  83(b) Elections
	  	 	19	 
	 2.23  Investment Company Act
	  	 	19	 
	 2.24  Environmental and Safety Laws
	  	 	19	 
	 2.25  Data Privacy
	  	 	19	 
	 2.26  Real Property Holding Corporation
	  	 	20	 
	 2.27  Insurance
	  	 	20	 
	 2.28  Anti-Bribery/Anti-Corruption Laws and Sanctions
	  	 	20	 
	 2.29  No Integrated Offering
	  	 	21	 
	 2.30  Sarbanes-Oxley Act
	  	 	21	 
	 2.31  Customers and Suppliers
	  	 	21	 
	 2.32  Application of Takeover Protections; Rights Agreement
	  	 	21	 
	 2.33  Disclosure of Information
	  	 	22	 

  
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	 3.   Representations and Warranties of the Purchasers
	  	 	22	 
		
	 3.1  Authorization
	  	 	22	 
	 3.2  Purchase Entirely for Own Account
	  	 	22	 
	 3.3  Disclosure of Information
	  	 	23	 
	 3.4  Restricted Securities
	  	 	23	 
	 3.5  Legends
	  	 	24	 
	 3.6  Accredited Investor
	  	 	24	 
	 3.7  Sufficient Funds
	  	 	24	 
	 3.8  No Additional Representations
	  	 	24	 
		
	 4.   Covenants
	  	 	25	 
		
	 4.1  Maintenance of Existence
	  	 	25	 
	 4.2  Compliance With Provisions
	  	 	25	 
	 4.3  Interim Operations
	  	 	25	 
	 4.4  Taxes
	  	 	25	 
	 4.5  Notifications
	  	 	25	 
	 4.6  Credit Agreement Payoff
	  	 	25	 
	 4.7  Additional Investment
	  	 	26	 
	 4.8  Regulatory Filings
	  	 	26	 
	 4.9  Information and Access
	  	 	27	 
	 4.10  Company Draw Right
	  	 	28	 
	 4.11  No Alternative Financing
	  	 	29	 
		
	 5.   Conditions to the Obligations of the Parties
	  	 	29	 
		
	 5.1  Conditions to the Obligations of the Purchasers
	  	 	29	 
	 5.2  Conditions to the Obligations of the Company
	  	 	30	 
		
	 6.   Indemnification
	  	 	31	 
		
	 6.1  Indemnity by the Company
	  	 	31	 
	 6.2  Indemnity by the Purchasers
	  	 	31	 
	 6.3  Expiration of Representations and Warranties; Exclusive Remedy
	  	 	31	 
	 6.4  Limitations on Liability
	  	 	32	 
	 6.5  Third-Party Claims
	  	 	32	 
	 6.6  Direct Claims
	  	 	33	 
	 6.7  Tax Characterization
	  	 	34	 
		
	 7.   Termination
	  	 	34	 
		
	 7.1  Termination
	  	 	34	 
	 7.2  Effect of Termination
	  	 	35	 

  
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	 8.   Miscellaneous
	  	 	35	 
		
	 8.1  Successors and Assigns
	  	 	35	 
	 8.2  Governing Law
	  	 	35	 
	 8.3  Counterparts
	  	 	36	 
	 8.4  Titles and Subtitles
	  	 	36	 
	 8.5  Notices
	  	 	36	 
	 8.6  No Finder’s Fees
	  	 	36	 
	 8.7  Further Assurances
	  	 	36	 
	 8.8  Transaction Expenses
	  	 	37	 
	 8.9  Amendments and Waivers
	  	 	37	 
	 8.10  Severability
	  	 	37	 
	 8.11  Delays or Omissions
	  	 	37	 
	 8.12  Entire Agreement
	  	 	37	 
	 8.13  Dispute Resolution
	  	 	38	 
	 8.14  WAIVER OF JURY TRIAL
	  	 	38	 

  

  
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 TPI COMPOSITES, INC. 

SERIES A PREFERRED STOCK PURCHASE AGREEMENT 

THIS SERIES A PREFERRED STOCK PURCHASE AGREEMENT (this “Agreement”), is made as of November 8, 2021, by and among
TPI Composites, Inc., a Delaware corporation (the “Company”), and Oaktree Power Opportunities Fund V (Delaware) Holdings, L.P., a Delaware limited partnership, Opps TPIC Holdings, LLC, a Delaware limited liability company, and
Oaktree Phoenix Investment Fund, L.P., a Delaware limited partnership, (each a “Purchaser” and collectively, the “Purchasers”). 

The parties hereby agree as follows: 

1. Purchase and Sale of Preferred Stock. 

1.1 Sale and Issuance of Series A Preferred Stock. 

(a) The Company shall adopt and file with the Secretary of State of the State of Delaware on or before the Closing (as defined below) the
Certificate of Designations in the form of Exhibit A attached to this Agreement (the “Certificate of Designations”). 

(b) On the terms and subject to the conditions of this Agreement, each Purchaser, severally and not jointly, agrees to purchase at the Closing
and the Company agrees to sell and issue to each such Purchaser at the Closing the number of shares of Series A Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”), set forth opposite such Purchaser’s
name in Exhibit B hereto with an initial purchase price of $1,000.00 per share (the “Purchase Price”) for an aggregate purchase price of $350,000,000.00 (the “Aggregate Purchase Price”). The shares of Series
A Preferred Stock issued to the Purchasers pursuant to this Agreement shall be referred to in this Agreement as the “Shares.” 

1.2 Closing; Delivery. The closing of the transactions contemplated hereby (the “Closing”) shall take place
remotely via the electronic exchange of documents and signatures, or at such other time and place as the Company and the Purchasers may agree in writing, on the third (3rd) Business Day after satisfaction or waiver of the conditions set forth in
Section 5 (other than those conditions that by their terms are to be satisfied at the Closing, but subject to the satisfaction or waiver of those conditions); provided that in no event shall the Closing occur prior to
November 22, 2021, unless such limitation is waived by the Purchasers in writing. The date on which the Closing actually occurs shall be referred to herein as the “Closing Date.” 

(a) At the Closing, the Company shall: 

(i) duly file, or cause to be duly filed, the Certificate of Designations with the Secretary of State of the State of Delaware and deliver a
certified copy of the Certificate of Designations that was duly filed with the Secretary of State of the State of Delaware to the Purchasers; 

(ii) deliver or cause to be delivered to the Purchasers: 

	 	(1)	 stock certificates, or such other evidence reasonably acceptable to the Purchasers, evidencing the ownership by
the Purchasers of the applicable number of shares of Series A Preferred Stock as contemplated by this Agreement; 

  

	 	(2)	 a certificate of good standing of the Company as of a date no earlier than two (2) Business Days prior to
the Closing Date; 

  

	 	(3)	 the certificate contemplated by Section 5.1(f); and 

 

	 	(4)	 counterparts to the warrant certificate representing the Warrants issued to the Purchasers;

 (iii) counterparts to the Transaction Agreements, duly executed by the Company and the Purchasers; 

(iv) copies of the resolutions or written consents duly adopted by the Board of Directors and certified by the Company’s secretary
authorizing the execution, delivery and performance of this Agreement and the other Transaction Agreements and the transactions contemplated hereby and thereby; 

(v) pay, or cause to be paid to the Purchasers (which may be set off against the Purchase Price, at the Purchasers’ option), any unpaid
portion of the Transaction Expenses; and 
 (vi) deliver or cause to be delivered any other customary documents or certificates reasonably
requested by the Purchasers which are reasonably necessary to give effect to the Closing; 
 (b) At the Closing, the Purchasers shall
(i) severally and not jointly pay (or cause to be paid) to the Company the Purchase Price payable by each such Purchaser by wire transfer to a bank account designated by the Company prior to the date of this Agreement, (ii) deliver to the
Company executed counterparts to the Investors Rights Agreement, and the Warrant, and (iii) deliver to the Company the certificate contemplated by Section 5.2(d). 

1.3 Use of Proceeds. The Company shall use the proceeds from the sale of the Shares to pay the Credit Agreement Payoff Amount,
with any remainder to be used for general corporate purposes. 
 1.4 Defined Terms Used in this Agreement. In addition
to the terms defined above, the following terms used in this Agreement shall be construed to have the meanings set forth or referenced below. 

(a) “409A Plan” has the meaning set forth in Section 2.2(f). 

(b) “2020 Form 10-K” has the meaning set forth in
Section 2.3. 
 (c) “Additional Equity” has the meaning set forth in
Section 4.10(c). 

  
 -2- 

 (d) “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, private investment fund or registered investment company now or hereafter existing that is controlled by one or more general partners, managing members or investment advisers of, or shares the same management company or investment adviser
with, such Person; provided that neither the Purchasers nor any of their Affiliates shall be considered Affiliates of the Company for purposes of this definition. 

(e) “Aggregate Draw Amount” has the meaning set forth in Section 4.10(a). 

(f) “Agreement” has the meaning set forth in the Preamble. 

(g) “Alternative Financing” means any debt or equity financing transaction involving the Company or any of its Affiliates,
other than the investment by the Purchasers contemplated hereby. 
 (h) “Anti-Bribery Laws” has the meaning set forth in
Section 2.28. 
 (i) “Board of Directors” means the Board of Directors of the Company. 

(j) “Business Day” means any day, other than a Saturday, a Sunday, any other day on which commercial banks in New York, New
York are authorized or required by law to be closed. 
 (k) “Bylaws” means the Second Amended and Restated By-laws of the Company. 
 (l) “Certificate of Designations” has the meaning set forth in
Section 1.1(a). 
 (m) “Certificate of Incorporation” means the Amended and Restated Certificate
of Incorporation of the Company and all amendments thereto, as the same may be amended from time to time. 
 (n) “Closing”
has the meaning set forth in Section 1.2(a). 
 (o) “Closing Date” has the meaning set forth in
Section 1.2. 
 (p) “Code” means the Internal Revenue Code of 1986, as amended. 

(q) “Common Stock” has the meaning set forth in Section 2.2(a)(i). 

(r) “Company” has the meaning set forth in the Preamble. 

  
 -3- 

 (s) “Company Covered Person” means, with respect to the Company as an
“issuer” for purposed of Rule 506 promulgated under the Securities Act, any Person listed in the first paragraph of Rule 506(d)(1). 

(t) “Company Draw Right” has the meaning set forth in Section 4.10(a). 

(u) “Company Fundamental Representations” means the representations and warranties contained in
Section 2.1 (Organization, Good Standing, Corporate Power and Qualification), Section 2.4 (Authorization), Section 2.5 (Valid Issuance of Shares),
Section 2.11 (Certain Transactions) and Section 2.33 (Disclosure of Information). 

(v) “Company Indemnitor” has the meaning set forth in Section 6.1. 

(w) “Company Indemnitees” has the meaning set forth in Section 6.2. 

(x) “Company Intellectual Property” means all patents, patent applications, registered and unregistered trademarks, trademark
applications, registered and unregistered service marks, service mark applications, trade names, indicia of origin, published and unpublished works of authorship, copyrights, rights in software, data, database rights, trade secrets, domain names,
uniform resource locators, social media handles, mask works, information and proprietary rights and processes, similar or other intellectual property rights, subject matter of any of the foregoing, tangible embodiments of any of the foregoing,
goodwill, common law rights and moral rights associated therewith (collectively, “Intellectual Property Rights”), in each case that are owned by the Company or any of its Subsidiaries. 

(y) “Company Plan” any benefit or compensation plan, program, policy, practice, agreement, contract, arrangement or other
obligation, whether or not in writing and whether or not funded, in each case, which is sponsored or maintained by, or required to be contributed to, or with respect to which any potential liability is borne by the Company, including, but not
limited to, “employee benefit plans” within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), employment, consulting, retirement, severance, termination or
change in control agreements, deferred compensation, equity-based, incentive, bonus, supplemental retirement, profit sharing, insurance, medical, welfare, fringe or other benefits or remuneration of any kind. 

(z) “Confidential Information Agreements” has the meaning set forth in Section 2.20. 

(aa) “Confidentiality Agreement” means the Confidentiality Agreement, dated as of October 25, 2021, by and between the
Company and Oaktree Power Opportunities Fund V (Delaware) Holdings, L.P. 
 (bb) “Control” means, as to any Person, the
power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. The terms “Controlled by,” “under common Control with” and
“Controlling” have correlative meanings. 

  
 -4- 

 (cc) “Credit Agreement” means the Credit Agreement, dated as of
April 6, 2018, by and among the Company, the Lenders party thereto, JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, and Capital One, National Association, as amended through the date hereof. 

(dd) “Credit Agreement Payoff Amount” has the meaning set forth in Section 4.6. 

(ee) “Credit Agreement Payoff Letter” has the meaning set forth in Section 4.6. 

(ff) “Current Stock Plan” has the meaning set forth in Section 2.2(b). 

(gg) “Damages” has the meaning set forth in Section 6.1. 

(hh) “Disclosure Schedule” has the meaning set forth in Section 2. 

(ii) “Direct Claim” has the meaning set forth in Section 6.6. 

(jj) “Disqualification Event” has the meaning set forth in Section 2.5(a). 

(kk) “Draw Amount” has the meaning set forth in Section 4.10(b). 

(ll) “Draw Closing” has the meaning set forth in Section 4.10(d). 

(mm) “Draw Notice” has the meaning set forth in Section 4.10(b). 

(nn) “Environmental Laws” has the meaning set forth in Section 2.24. 

(oo) “ERISA” has the meaning set forth in the definition of “Company Plan”. 

(pp) “ERISA Affiliate” has the meaning set forth in Section 2.18(f). 

(qq) “Event” has the meaning set forth in the definition of “Material Adverse Effect”. 

(rr) “Event of Noncompliance” has the meaning ascribed to such term in the Certificate of Designations. 

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

(tt) “Existing Investor Rights Agreement” means the Third Amended and Restated Investor Rights Agreement by and among the
Registrant and the investors named therein, dated June 17, 2010, as amended through the date hereof. 
 (uu) “FCPA”
has the meaning set forth in Section 2.28(a). 

  
 -5- 

 (vv) “Financial Statements” has the meaning set forth in
Section 2.14. 
 (ww) “GAAP” has the meaning set forth in
Section 2.14. 
 (xx) “Governmental Authority” means any domestic or foreign governmental,
legislative, judicial, administrative or regulatory authority, agency, commission, body, court or entity. 
 (yy) “Governmental
Order” means any order, writ, judgment, injunction, decree or award entered by or with any Governmental Authority. 
 (zz)
“Hazardous Substance” has the meaning set forth in Section 2.24. 
 (aaa) “HSR
Act” has the meaning set forth in Section 4.8(a). 
 (bbb) “Indemnitor” has the meaning
set forth in Section 6.2. 
 (ccc) “Indemnitee” has the meaning set forth in
Section 6.2. 
 (ddd) “Intellectual Property Rights” has the meaning set forth in the definition
of “Company Intellectual Property”. 
 (eee) “Investors Rights Agreement” means the agreement between the Company
and the Purchasers dated as of the date of the Closing, in the form of Exhibit C attached to this Agreement. 
 (fff) “IT
Systems” computer systems, servers, network equipment and other computer hardware owned or used by the Company or any of its Subsidiaries . 

(ggg) “Key Employee” means any executive-level employee (including division director and vice president-level positions) as
well as any employee who either alone or in concert with others develops, invents, programs or designs any Company Intellectual Property. 

(hhh) “knowledge,” including the phrase “to the Company’s knowledge,” shall mean the
actual knowledge after reasonable investigation of the President & CEO, Chief Information Officer, Chief Operating Officer, Chief Accounting Officer, Chief Commercial Officer, Chief People Officer, Chief Financial Officer, and General
Counsel. 
 (iii) “Law” means any federal, state, local or foreign law, statute or ordinance, or any rule, regulation,
judgment, order, writ, injunction, ruling or decree of any Governmental Authority. 
 (jjj) “NASDAQ” has the meaning set
forth in Section 2.14. 
 (kkk) “Material Adverse Effect” means any event, circumstance, effect,
change, development, fact, condition or development (each an “Event” and collectively, “Events”) that, individually or taken together with one or more other Events, has or would be reasonably expected to have a
material adverse effect on (x) the business, assets (including 

  
 -6- 

 
intangible assets), liabilities, financial condition, property, or results of operations of the Company and its Subsidiaries, taken as a whole or (y) the Company’s ability to perform
its obligations under this Agreement, the Certificate of Incorporation, or the Certificate of Designations, other than the following (none of which may be taken into account in determining whether a Material Adverse Effect has occurred other than as
expressly provided below): (i) Events resulting from a general deterioration in the economy or changes in the general state of the markets or industries in which the Company and its Subsidiaries operate, (ii) Events generally affecting the
economy or the debt, credit or securities markets (including any decline in the price of any security or any market index or any change in interest or exchange rates), in each case, in the United States or anywhere else in the world, (iii) any
hostilities or declared or undeclared acts of war, sabotage, terrorism or military actions or any escalation, worsening or diminution of any such hostilities, acts of war, sabotage, terrorism or military actions existing or underway as of the date
hereof, or any acts of God, including hurricanes, earthquakes, floods or other national disaster, (iv) changes in applicable law or the interpretation thereof after the date hereof, (v) changes in GAAP or other accounting requirements or
principles or the interpretation thereof after the date hereof, (vi) any failure of the Company or its Subsidiaries to meet or achieve the projections, forecasts or revenue or earning predictions for any period (provided, that this clause
(vi) shall not prevent a determination that any Event underlying such failure has resulted in a Material Adverse Effect, to the extent such Event is not otherwise excluded from this definition of Material Adverse Effect), except, in the case of
clauses (i) through (vi) above, to the extent such Event has had or is reasonably expected to have a disproportionately adverse effect on the Company and its Subsidiaries or their respective businesses as compared to other Persons operating in
a similar industry or geographic location as those that the Company and its Subsidiaries and their respective businesses operate (in which case the incremental disproportionate impact or impacts of such Events may be taken into account in
determining whether there has been, or would reasonably be expected to be, a Material Adverse Effect). 
 (lll) “PCBs” has
the meaning set forth in Section 2.24. 
 (mmm) “Person” means any individual, corporation,
partnership, trust, limited liability company, association or other entity. 
 (nnn) “Personal Information” has the meaning
set forth in Section 2.25. 
 (ooo) “Preferred Stock” has the meaning set forth in
Section 2.2(a)(ii). 
 (ppp) “Purchaser” has the meaning set forth in the Preamble. 

(qqq) “Purchasers Indemnitees” has the meaning set forth in Section 6.1. 

(rrr) “Purchasers Indemnitor” has the meaning set forth in Section 6.2. 

(sss) “Purchase Price” has the meaning set forth in Section 1.1(b). 

(ttt) “Representatives” means, with respect to a specified Person, the investors, officers, directors, managers, employees,
agents, advisors, counsel, accountants, investment bankers and other representatives of such Person. 

  
 -7- 

 (uuu) “Sanctions” has the meaning set forth in
Section 2.28(c). 
 (vvv) “SEC” has the meaning set forth in
Section 2.14. 
 (www) “SEC Documents” means all forms, reports, schedules and statements that
have been filed or furnished by the Company with the SEC under the Exchange Act or the Securities Act in the twelve (12) months prior to the date of this Agreement (excluding in each case any disclosures set forth in the risk factors or
“forward-looking statements” sections of such reports, and any other disclosures included therein to the extent they are predictive or forward-looking in nature). 

(xxx) “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 (yyy) “Series A Period” has the meaning set forth in Section 4.1. 

(zzz) “Series A Preferred Stock” has the meaning set forth in Section 1.1(b). 

(aaaa) “Series A Protective Provisions” means the matters set forth in Section 8(c) of the
Certificate of Designations. 
 (bbbb) “Series A Redemption Price” has the meaning ascribed to such term in the
Certificate of Designations. 
 (cccc) “Series A Requisite Majority” means the holders of at least a majority of the
then-outstanding Shares. 
 (dddd) “Shares” has the meaning set forth in Section 1.1(b). 

(eeee) “Significant Subsidiary” means each Subsidiary of the Company that is a “significant subsidiary” (as defined
in Rule 1-02(w) of the SEC’s Regulation S-X). 
 (ffff)
“Special Event of Noncompliance” has the meaning ascribed to such term in the Certificate of Designations. 
 (gggg)
“Stock Plans” has the meaning set forth in Section 2.2(b). 
 (hhhh)
“Subsidiary” of any Person means any corporation, general or limited partnership, joint venture, limited liability company, limited liability partnership or other Person that is a legal entity, trust or estate of which (or in
which) (a) the issued and outstanding shares having ordinary voting power to elect a majority of the board of directors (or a majority of another body performing similar functions) of such corporation or other Person (irrespective of whether at
the time equity interests of any other class or classes of such corporation or other Person shall or might have voting power upon the occurrence of any contingency), (b) more than 50% of the interest in the capital or profits of such partnership,
joint venture or limited liability company or (c) more than 50% of the beneficial interest in such trust or estate, is at the time of determination directly or indirectly beneficially owned or Controlled by such Person. 

  
 -8- 

 (iiii) “Third-Party Claim” has the meaning set forth in
Section 6.5. 
 (jjjj) “Termination Date” has the meaning set forth in
Section 7.1(b). 
 (kkkk) “Transaction Agreements” means this Agreement, the Investors Rights
Agreement, the Certificate of Designations, the Warrant, and any other instruments or documents entered into in connection herewith and therewith. 

(llll) “Transaction Expenses” has the meaning set forth in Section 8.8. 

(mmmm) “Warrant” means the warrant issued to the Purchasers by the Company, dated as of the date of the Closing, in the form
of Exhibit D attached to this Agreement. 
 2. Representations and Warranties of the Company. The Company hereby
represents and warrants to the Purchasers, except as (1) disclosed in the SEC Documents, and (2) in the corresponding sections or subsections of the disclosure schedule attached as Exhibit E to this Agreement (the
“Disclosure Schedule”) (provided that the Disclosure Schedules shall be arranged in sections corresponding to the numbered and lettered sections and subsections contained in this Section 2, and the
disclosures in any section or subsection of the Disclosure Schedule shall qualify other sections and subsections in this Section 2 only to the extent it is readily apparent from a reading of the disclosure that such
disclosure is applicable to such other sections and subsections), which exceptions shall be deemed to be part of the representations and warranties made hereunder, as of the date hereof and the Closing Date, as follows: 

For purposes of these representations and warranties (other than those in Sections 2.1, 2.2, 2.3, 2.4, 2.5,
and 2.6), the term “the Company” shall include any Subsidiaries of the Company, unless otherwise noted herein. 
 2.1
Organization, Good Standing, Corporate Power and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to
carry on its business as presently conducted and as proposed to be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have, individually or in the
aggregate, a Material Adverse Effect. 
 2.2 Capitalization. 

(a) The authorized capital of the Company consists, immediately prior to the Closing, of: 

(i) 100,000,000 shares of common stock, $0.01 par value per share (the “Common Stock”), 37,278,894 shares of which are issued
and outstanding immediately prior to the Closing. All of the outstanding shares of Common Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal and state securities laws. 

  
 -9- 

 (ii) 5,500,000 shares of undesignated preferred stock, $0.01 par value per share (the
“Preferred Stock”), none of which are issued and outstanding. 
 (b) The Company has reserved (i) 11,821,685 shares of
Common Stock for issuance to officers, directors, employees and consultants of the Company pursuant to its Amended and Restated 2015 Stock Option and Incentive Plan duly adopted by the Board of Directors and approved by the Company stockholders (the
“Current Stock Plan”) and (ii) 1,068,658 shares of Common Stock for issuance to officers, directors, employees and consultants of the Company pursuant to its 2008 Stock Option and Grant Plan that is now terminated
(collectively, the “Stock Plans”). Of such reserved shares of Common Stock pursuant to the Stock Plans, 2,465,282 shares are to be issued upon exercise of outstanding options, warrants and rights or the settlement of unvested
restricted stock units or performance-based restricted stock units, and 7,051,227 shares of Common Stock remain available for issuance to officers, directors, employees and consultants pursuant to the Current Stock Plan. 

(c) Except as set forth in the Certificate of Designations, the Company has no obligation (contingent or otherwise) to purchase or redeem any
of its capital stock. 
 (d) (A) Except for the rights provided in Article VII (Preemptive Rights) and Article II
(Registration Rights) of the Investors Rights Agreement, and Section 4 (Preemptive Rights) and Section 2 (Registration Rights) of the Existing Investor Rights Agreement, none
of the Company’s or any of its Subsidiaries’ capital stock is subject to preemptive rights or any other similar rights or restrictions or liens suffered or permitted by the Company or any Subsidiary; (B) except as provided in the
Existing Investor Rights Agreement and the Investor Rights Agreement, there are no contracts under which the Company or any of its Subsidiaries is obligated to register the sale of any of their securities under the Securities Act ; (C) there are no
outstanding securities or instruments of the Company or any of its Subsidiaries which contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company or any of its
Subsidiaries is or may become bound to redeem a security of the Company or any of its Subsidiaries; (D) there are no securities or instruments or capital stock containing anti-dilution or similar provisions that will be triggered by the
issuance of the Shares; (E) neither the Company nor any Subsidiary has any stock appreciation rights or “phantom stock” plans or agreements or any similar plan or agreement; and (F) there are no stockholder agreements, voting
trusts or other agreements to which the Company or any of its Subsidiaries is a party or by which they are bound relating to the voting of any shares, interests or capital stock of the Company or any of its Subsidiaries. 

(e) The Company has obtained valid waivers of any rights by other parties to purchase any of the Shares covered by this Agreement. 

(f) To the knowledge of the Company, any “nonqualified deferred compensation plan” (as such term is defined under
Section 409A(d)(1) of the Code and the guidance thereunder) under which the Company makes, is obligated to make or promises to make, payments (each, a “409A Plan”) complies in all material respects, in both form and
operation, with the requirements of Section 409A of the Code and the guidance thereunder. To the knowledge of the Company, no payment to be made under any 409A Plan is, or will be, subject to the penalties of Section 409A(a)(1) of the
Code. 

  
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 2.3 Subsidiaries. The Company has no Significant Subsidiaries except as set
forth on Exhibit 21.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (the “2020 Form 10-K”)
and the Company does not currently own or control, directly or indirectly, any interest in any other corporation, partnership, trust, joint venture, limited liability company, association or other business entity. The Company is the record and
beneficial owner of one hundred percent (100%) of the equity interests of each Subsidiary of the Company, in each case, free and clear of any and all liens (other than restrictions imposed by applicable federal and state securities laws applicable
to unregistered securities generally). The Company is not a participant in any joint venture, partnership or similar arrangement. Each Significant Subsidiary is a corporation or limited liability company duly organized, validly existing and in good
standing under the laws of its jurisdiction of formation and has all requisite corporate or limited liability company power and authority to carry on its business as presently conducted and as proposed to be conducted. The Company and each of its
Significant Subsidiaries is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a Material Adverse Effect. 

2.4 Authorization. The Company has full power and authority to enter into the Transaction Agreements. All corporate action
required to be taken by the Board of Directors and the Company’s stockholders in order to authorize the Company to enter into the Transaction Agreements, and to issue the Shares at the Closing and the Common Stock issuable upon conversion of
the Warrant, has been taken or will be taken prior to the Closing. All action on the part of the officers of the Company necessary for the execution and delivery of the Transaction Agreements, the performance of all obligations of the Company under
the Transaction Agreements to be performed as of the Closing, and the issuance and delivery of the Shares has been taken or will be taken prior to the Closing. The Transaction Agreements, when executed and delivered by the Company, shall constitute
valid and legally binding obligations of the Company, enforceable against the Company in accordance with their respective terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or
other laws of general application relating to or affecting the enforcement of creditors’ rights generally, or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.

 2.5 Valid Issuance of Shares. 

(a) The Shares, when issued, sold and delivered in accordance with the terms and for the consideration set forth in this Agreement, will be
validly issued, fully paid and nonassessable and free of restrictions on transfer other than restrictions on transfer under the Transaction Agreements, applicable state and federal securities laws and liens or encumbrances created by or imposed by
the Purchasers. Assuming the accuracy of the representations of the Purchasers in Section 3 of this Agreement and subject to the filings described in Section 2.6, the Shares will be issued in
compliance with all applicable federal and state securities laws. As of the Closing, the Company will have reserved from its duly authorized capital stock the maximum number of shares of Common Stock authorized under its Certificate of Incorporation
that are available after giving effect to shares of Common Stock reserved for issuance or issuable upon the exercise of the Warrants. Upon the issuance of Common Stock following an exercise of the Warrants in accordance with the Warrants, such
Common Stock, when issued, will be validly issued, fully paid and non-assessable and free and clear of all liens, with the holders thereof being entitled to all rights accorded to a holder of Common Stock.

  
 -11- 

 (b) No “bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii) of
the Securities Act (a “Disqualification Event”) is applicable to the Company or, to the Company’s knowledge, any Company Covered Person, except for a Disqualification Event as to which Rule
506(d)(2)(ii-iv) or (d)(3) of the Securities Act is applicable. 
 2.6 Governmental
Consents and Filings. Assuming the accuracy of the representations made by the Purchasers in Section 3 of this Agreement, no consent, approval, order or authorization of, or registration, qualification, designation,
declaration or filing with, any federal, state or local governmental authority is required on the part of the Company in connection with the consummation of the transactions contemplated by this Agreement, except for (i) the filing of the
Certificate of Designations, which will have been filed as of the Closing, (ii) filings pursuant to applicable state securities laws, which have been made or will be made in a timely manner or (iii) that may be required under the HSR Act.

 2.7 Litigation. There is no claim, action, suit, proceeding, arbitration, complaint, charge or investigation pending or, to
the Company’s knowledge, currently threatened (i) against the Company or any officer, director or Key Employee of the Company arising out of their employment or board relationship with the Company; (ii) to the Company’s
knowledge, that questions the validity of the Transaction Agreements or the right of the Company to enter into them, or to consummate the transactions contemplated by the Transaction Agreements; or (iii) that would reasonably be expected to
have, either individually or in the aggregate, a Material Adverse Effect. Neither the Company nor, to the Company’s knowledge, any of its officers, its directors or the Key Employees is a party to or is named as subject to the provisions of any
order, writ, injunction, judgment or decree of any court or government agency or instrumentality (in the case of officers, directors or the Key Employees, such as would affect the Company). There is no action, suit, proceeding or investigation by
the Company pending or which the Company intends to initiate. The foregoing includes, without limitation, actions, suits, proceedings or investigations pending or threatened in writing (or any basis therefor known to the Company) involving the prior
employment of any of the Company’s employees, their services provided in connection with the Company’s business, any information or techniques allegedly proprietary to any of their former employers or their obligations under any agreements
with prior employers. 
 2.8 Intellectual Property. 

(a) Except as, individually or in the aggregate, has not had, and would not reasonably be expected to have a Material Adverse Effect, the
Company and its Subsidiaries own or possess sufficient rights to use all Intellectual Property Rights used in or necessary for the conduct of their respective businesses as currently conducted. To the Company’s knowledge, the conduct of the
respective businesses of the Company and its Subsidiaries does not infringe, misappropriate or otherwise violate the Intellectual Property Rights of any third Person, and to the Company’s knowledge, no third Person is infringing,
misappropriating or otherwise violating any Company Intellectual Property. 

  
 -12- 

 (b) The Company or its applicable Subsidiary has obtained from all current and former
employees and contractors who have created or developed any material Intellectual Property Rights for or on behalf of the Company or any of its Subsidiaries, written, valid and enforceable present assignments of all such Intellectual Property
Rights. There has been no security breach, or unauthorized access to or use, of any IT Systems, or any information or data stored thereon, that has resulted in, or is reasonably likely to result in, material liability to the Company or any of its
Subsidiaries. 
 2.9 Compliance with Other Instruments. The Company is not in violation or default (i) of any provisions
of its Certificate of Incorporation or Bylaws, (ii) of any instrument, judgment, order, writ or decree, (iii) under any note, indenture or mortgage, or (iv) under any lease, agreement, contract or purchase order to which it is a party
or by which it is bound, or (v) of any provision of federal or state statute, rule or regulation applicable to the Company, except, in the case of sub-clauses (ii) through (v), the violation of which
would have a Material Adverse Effect. The execution, delivery and performance of the Transaction Agreements and the consummation of the transactions contemplated by the Transaction Agreements will not result in any such violation or be in conflict
with or constitute, with or without the passage of time and giving of notice, either (i) a default under any such provision, instrument, judgment, order, writ, decree, contract or agreement; or (ii) an event which results in the creation
of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, forfeiture, or nonrenewal of any material permit or license applicable to the Company. 

2.10 Agreements; Actions. 

(a) Except for the Transaction Agreements, there are no agreements, understandings, instruments, contracts or proposed transactions to which
the Company is a party or by which it is bound that involve the grant of rights to manufacture, produce, assemble, license, market, or sell its products to any other Person that limit the Company’s exclusive right to develop, manufacture,
assemble, distribute, market or sell its products. 
 (b) The Company has not (i) declared or paid any dividends, or authorized or made
any distribution upon or with respect to any class or series of its capital stock, (ii) incurred any indebtedness for money borrowed or incurred any other liabilities individually in excess of $10,000,000 or in excess of $20,000,000 in the
aggregate, (iii) made any loans or advances to any Person, other than ordinary advances for travel expenses, or (iv) sold, exchanged or otherwise disposed of any of its assets or rights, other than the sale of its inventory in the ordinary
course of business. For the purposes of subsections (b) and (c) of this Section 2.10, all indebtedness, liabilities, agreements, understandings, instruments, contracts and proposed transactions involving the same
Person (including Persons the Company has reason to believe are affiliated with each other) shall be aggregated for the purpose of meeting the individual minimum dollar amounts of such subsection. 

(c) The Company is not a guarantor or indemnitor of any indebtedness of any other Person except for parent guarantees on behalf of certain
wholly-owned Company Subsidiaries entered into in the ordinary course of business and consistent with past practice of the Company. 

  
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 2.11 Certain Transactions. 

(a) Other than (i) standard employee benefits generally made available to all employees, (ii) standard director and officer
indemnification agreements approved by the Board of Directors, and (iii) there are no agreements, understandings or proposed transactions between the Company and any of its officers, directors, consultants or Key Employees, or any Affiliate
thereof. 
 (b) The Company is not indebted, directly or indirectly, to any of its directors, officers or employees or to their respective
spouses, domestic partners or children or to any Affiliate of any of the foregoing, other than in connection with expenses or advances of expenses incurred in the ordinary course of business or employee relocation expenses and for other customary
employee benefits made generally available to all employees. There have not been any transactions or contracts or series of related transactions or contracts required to be disclosed under Item 404 of Regulation
S-K under the 1934 Act. 
 2.12 Rights of Registration and Voting Rights. Except as
provided in the Investors Rights Agreement and the Existing Investor Rights Agreement, the Company is not under any obligation to register under the Securities Act any of its currently outstanding securities or any securities issuable upon exercise
or conversion of its currently outstanding securities. To the Company’s knowledge, no stockholder of the Company has entered into any agreements with respect to the voting of capital shares of the Company. 

2.13 Property. The property and assets that the Company owns are free and clear of all mortgages, deeds of trust, liens, loans
and encumbrances, except for statutory liens for the payment of current taxes that are not yet delinquent and encumbrances and liens that arise in the ordinary course of business and do not materially impair the Company’s ownership or use
of such property or assets. With respect to the property and assets it leases, the Company is in compliance with such leases and holds a valid leasehold interest free of any liens, claims or encumbrances other than those of the lessors of such
property or assets or their mortgagors. The Company does not own any real property. 
 2.14 SEC Documents; Financial
Statements. Since December 31, 2020, the Company has timely filed all reports, schedules, forms, proxy statements, statements and other documents required to be filed by it with the Securities and Exchange Commission
(“SEC”) pursuant to the reporting requirements of the 1934 Act or the Securities Act (all of the foregoing filed prior to the date hereof and all exhibits and appendices included therein and financial statements, notes and schedules
thereto and documents incorporated by reference therein being hereinafter referred to as the SEC Documents. Prior to the date hereof, the Company has delivered or has made available to the Purchasers true, correct and complete copies of each of the
SEC Documents not available on the EDGAR system. As of their respective dates, the SEC Documents complied in all material respects with the requirements of the 1934 Act, the rules and regulations of the SEC promulgated thereunder and the rules and
regulations of the Nasdaq Stock Market (“NASDAQ”), in each case, applicable to the SEC Documents, and none of the SEC Documents contains any untrue statement of a material fact or omitted to state a material fact required to be
stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. None of the Company’s Subsidiaries is subject to

  
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the periodic reporting requirements of the 1934 Act. There are no outstanding or unresolved comments in comment letters from the SEC staff with respect to any of the SEC Documents. To the
Company’s knowledge, no SEC Document is the subject of ongoing SEC review or outstanding SEC investigation. As of their respective dates, the audited and unaudited financial statements of the Company included in the SEC Documents (including, in
each case, the notes thereto, the “Financial Statements”) complied in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto as in effect as of the time
of filing. The Financial Statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) (except (i) as may be otherwise indicated in such Financial Statements or the notes thereto, or
(ii) in the case of unaudited interim statements, to the extent they may exclude footnotes or may be condensed or summary statements), and fairly present in all material respects the financial position of the Company as of the dates thereof and
the results of its operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments which will not be material, either individually or in
the aggregate). The Company is not currently contemplating to amend or restate any of the Financial Statements (including any notes or any letter of the independent accountants of the Company with respect thereto), nor, to the Company’s
knowledge, do there exist any facts or circumstances which would require the Company to amend or restate any of the Financial Statements, in each case, in order for any of the Financial Statements to be in compliance with GAAP and the rules and
regulations of the SEC. The Company has not been informed by its independent accountants that they recommend that the Company amend or restate any of the Financial Statements or that there is any need for the Company to amend or restate any of the
Financial Statements. 
 2.15 Internal Accounting and Disclosure Controls. The Company and each of its Subsidiaries maintains
internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the 1934 Act) that are effective to provide reasonable assurances regarding the reliability of the financial reporting
and the preparation of financial statements of the Company and its Subsidiaries for external purposes in accordance with GAAP, and includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of the assets of the Company, (ii) transactions are recorded as necessary to permit preparation of financial statements and (iii) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the
Company. The Company maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the 1934 Act) that are effective in ensuring that information required to be disclosed by the
Company in the reports that it files or submits under the 1934 Act is recorded, processed, summarized and reported, within the time periods specified in the rules and forms of the SEC, including controls and procedures designed to ensure that
information required to be disclosed by the Company in the reports that it files or submits under the 1934 Act is accumulated and communicated to the Company’s management, including its principal executive officer or officers and its principal
financial officer or officers, as appropriate, to allow timely decisions regarding required disclosure. Neither the Company nor any of its Subsidiaries has received any notice or correspondence from any accountants, governmental entities or other
Person relating to (x) any potential material weakness or significant deficiency in any part of the internal controls over financial reporting of the Company or any of its Subsidiaries or (y) any fraud, whether or not material, that
involves (or involved) the management or other employees of the Company or its Subsidiaries who have (or had) a significant role in the Company’s or its Subsidiaries’ internal controls. 

  
 -15- 

 2.16 Changes . Since December 31, 2020, there has not been: 

(a) any Material Adverse Effect; 

(b) any damage, destruction or loss, whether or not covered by insurance, that would be material to the Company and its Subsidiaries, taken as
a whole; 
 (c) any waiver or compromise by the Company of any right or of a debt owed to it, that would be material to the Company and its
Subsidiaries, taken as a whole; or 
 (d) any mortgage, pledge, transfer of a security interest in, or lien, created by the Company, with
respect to any of its properties or assets, that would be material to the Company and its Subsidiaries, taken as a whole, except liens for taxes not yet due or payable and liens that arise in the ordinary course of business and do not materially
impair the Company’s ownership or use of such property or assets. 
 2.17 No Undisclosed Events, Liabilities,
Developments or Circumstances. Except with respect to the transactions contemplated by the Transaction Agreements, no event, liability, obligation, development or circumstance (whether absolute, accrued, contingent, fixed or otherwise) has
occurred or existed, or is reasonably expected to exist or occur with respect to the Company, any of its Subsidiaries or any of their respective businesses, properties, liabilities, prospects, operations (including results thereof) or condition
(financial or otherwise), that would, individually or in the aggregate, reasonably be expected to be material to the Company and its Subsidiaries taken as a whole. 

2.18 Employee Matters. 

(a) To the Company’s knowledge, none of its employees is obligated under any contract (including licenses, covenants or commitments of
any nature) or other agreement, or subject to any judgment, decree or order of any court or administrative agency, that would materially interfere with such employee’s ability to promote the interest of the Company or that would conflict with
the Company’s business. Neither the execution or delivery of the Transaction Agreements, nor the carrying on of the Company’s business by the employees of the Company, nor the conduct of the Company’s business as now conducted and as
presently proposed to be conducted, will, to the Company’s knowledge, conflict with or result in a breach of the terms, conditions, or provisions of, or constitute a default under, any contract, covenant or instrument under which any such
employee is now obligated. 
 (b) The Company is not delinquent in payments to any of its employees, consultants or independent contractors
for any wages, salaries, commissions, bonuses or other direct compensation for any service performed for it to the date hereof or amounts required to be reimbursed to such employees, consultants or independent contractors. The Company has complied
in all material respects with all applicable state, federal and foreign equal employment opportunity laws and with all other applicable state, federal and foreign laws related to 

  
 -16- 

 
employment, including but not limited to those related to wages, hours, worker classification and collective bargaining. The Company has withheld and paid to the appropriate governmental entity
or is holding for payment not yet due to such governmental entity all amounts required to be withheld from employees of the Company and is not liable for any arrears of wages, taxes, penalties or other sums for failure to comply with any of the
foregoing. 
 (c) Neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated thereby (either
alone or in combination with another event) will (i) constitute a “change in control” or “change of control” or any similar term under any Company Plan, (ii) result in any payment becoming due to any current or former
employee, director, officer or independent contractor of the Company, (iii) increase the amount of any compensation or benefits due under any Company Plan, (iv) result in the acceleration of the time of payment, vesting or funding under
any Company Plan or (v) limit or restrict the right to merge, materially amend, terminate or transfer the assets of any Company Plan. 

(d) To the Company’s knowledge, no Key Employee intends to terminate employment with the Company or is otherwise likely to become
unavailable to continue as a Key Employee, nor does the Company have a present intention to terminate the employment of any of the foregoing. The employment of each employee of the Company is terminable at the will of the Company. 

(e) The Company has not made any representations regarding equity incentives or compensation to any officer, employee, director or consultant
that are inconsistent with the share amounts and terms set forth in the minutes of meetings of the Board of Directors and provided to the Purchasers. 

(f) The Company has made all required contributions and has no liability to any Company Plan, other than liability for health plan
continuation coverage described in Part 6 of Title I(B) of ERISA, and has complied in all material respects with all applicable laws for any such Company Plan. Neither the Company nor any ERISA Affiliate has contributed (or had any obligation of any
sort) in the last six (6) years to a plan that is subject to Section 412 or 302 of the Code or Title IV of ERISA. For purposes of this Agreement, “ERISA Affiliate” means all employers (whether or not incorporated) that
would be treated together with the Company or any of its Subsidiaries as a “single employer” within the meaning of Section 414 of the Code. 

(g) To the Company’s knowledge, none of the Key Employees or directors of the Company has been (i) subject to voluntary or
involuntary petition under the federal bankruptcy laws or any state insolvency law or the appointment of a receiver, fiscal agent or similar officer by a court for his business or property; (ii) convicted in a criminal proceeding or named as a
subject of a pending criminal proceeding (excluding traffic violations and other minor offenses); (iii) subject to any order, judgment or decree (not subsequently reversed, suspended or vacated) of any court of competent jurisdiction permanently or
temporarily enjoining him from engaging, or otherwise imposing limits or conditions on his engagement, in any securities, investment advisory, banking, insurance, or other type of business or acting as an officer or director of a public company; or
(iv) found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity Futures Trading Commission to have violated any federal or state securities, commodities or unfair trade practices law, which such judgment or
finding has not been subsequently reversed, suspended or vacated. 

  
 -17- 

 (h) Other than as disclosed on Section 2.18(h) of the Disclosure
Schedule, no labor union, collective bargaining organization or labor representative has requested or, to the knowledge of the Company, has sought to represent any of the employees, representatives or agents of the Company. There is no strike or
other labor dispute involving the Company pending, or to the Company’s knowledge, threatened. 
 (i) Each former Key Employee whose
employment was terminated by the Company has entered into an agreement with the Company providing for the full release of any claims against the Company or any related party arising out of such employment or termination of employment. 

2.19 Tax Returns and Payments. Except as would not reasonably be expected to result in a material liability to the Company,
(a) there are no federal, state, county, local or foreign taxes due and payable by the Company which have not been timely paid, (b) there are no accrued and unpaid federal, state, county, local or foreign taxes of the Company which are
due, whether or not assessed or disputed, (c) there have been no examinations or audits of any tax returns or reports by any applicable federal, state, local or foreign governmental agency, (d) the Company has duly and timely filed all
federal, state, county, local and foreign tax returns required to have been filed by it, all such returns are true, correct and complete in all respects and there are in effect no waivers of applicable statutes of limitations with respect to taxes
for any year. 
 2.20 Employee Agreements. Each Key Employee and any other current or former employee, consultant or officer of
the Company has executed an agreement with the Company regarding confidentiality and proprietary information substantially in the form or forms made available to the counsel for the Purchasers (the “Confidential Information
Agreements”). No current or former Key Employee has excluded works or inventions from his or her assignment of inventions pursuant to such Key Employee’s Confidential Information Agreement. Each current and former Key Employee has
executed a non-competition and non-solicitation agreement substantially in the form or forms made available to counsel for the Purchasers prior to the date hereof. Each
current and former Key Employee that is a consultant to the Company has entered into a Consulting Agreement, substantially in the form previously provided or made available to the Purchasers prior to the date hereof. The Company is not aware that
any of its Key Employees is in violation of any agreement covered by this Section 2.20. 
 2.21
Permits. The Company has all material franchises, permits, registrations, licenses and any similar authority necessary for the conduct of its business. The Company is not in default or violation (and no event has occurred which, with
notice or the lapse of time or both, would constitute a material default or violation) in any material respect of any term, condition or provision under any of such franchises, permits, registrations, licenses or other similar authority, and the
Company is not the subject of any pending or, to the Knowledge of the Company, threatened action by a governmental authority seeking the cancellation, revocation, suspension, termination, modification or impairment of any such franchises, permits,
registrations, licenses or other similar authority. 

  
 -18- 

 2.22 83(b) Elections. To the Company’s knowledge, all elections and
notices under Section 83(b) of the Code have been or will be timely filed by all individuals who have acquired unvested shares of the Company’s Common Stock. 

2.23 Investment Company Act. Neither the Company nor any of its Subsidiaries is an “investment company” as defined in,
or subject to regulation under, the Investment Company Act of 1940. 
 2.24 Environmental and Safety Laws. Except as has not
and would not reasonably be expected to result in a material liability to the Company, and to the Company’s knowledge, (a) the Company is and has been in compliance with all Environmental Laws; (b) there has been no release or, to the
Company’s knowledge, threatened release of any pollutant, contaminant or toxic or hazardous material, substance or waste, or petroleum or any fraction thereof, (each, a “Hazardous Substance”) on, upon, into or from any site
currently or heretofore owned, leased or otherwise used by the Company; (c) there have been no Hazardous Substances generated by the Company that have been disposed of or come to rest at any site that has been included in any published U.S.
federal, state or local “superfund” site list or any other similar list of hazardous or toxic waste sites published by any governmental authority in the United States; and (d) there are no underground storage tanks located on, no
polychlorinated biphenyls (“PCBs”) or PCB-containing equipment used or stored on, and no hazardous waste as defined by the Resource Conservation and Recovery Act, as amended, stored on, any
site owned or operated by the Company, except for the storage of hazardous waste in compliance with Environmental Laws. The Company has made available to the Purchasers true and complete copies of all material environmental records, reports,
notifications, certificates of need, permits, pending permit applications, correspondence, engineering studies, and environmental studies or assessments. For purposes of this Section 2.24, “Environmental
Laws” means any law, regulation, or other applicable requirement relating to (a) releases or threatened release of Hazardous Substance; (b) pollution or protection of employee health or safety, public health or the environment; or
(c) the manufacture, handling, transport, use, treatment, storage, or disposal of Hazardous Substances. 
 2.25 Data
Privacy. In connection with its collection, storage, transfer (including any transfer across borders), processing and/or use of any personally identifiable information (including medical or health information) from any individuals, including,
any customers, prospective customers, employees and/or other third Persons or any other information that could reasonably be used to identify an individual, household, browser or device (collectively, “Personal Information”), the
Company is and has been in compliance in all material respects with all applicable laws, regulations, directives, and industry standards and practices, the Company’s privacy policies and the requirements of any contract or code of conduct to
which the Company is a party or to which it is subject (the “Privacy Requirements”). The Company has implemented commercially reasonable physical, technical, organizational and administrative security measures and policies to
protect all Personal Information collected, used or otherwise processed by it or on its behalf (a) from and against unauthorized access, use or disclosure; and (b) against any anticipated threats or hazards to the security or integrity of
such Personal Information, and such measures and policies include access controls, device management, encryption, log-in monitoring, audit controls, password management, physical security and environmental
controls, business continuity or disaster recovery and security plans. The Company has required and currently requires all third Persons to whom they disclose any such Personal Information to use reasonable

  
 -19- 

 
measures to maintain the privacy and security of such Personal Information. The Company is and has been in compliance in all material respects with all laws relating to data loss, theft, breach
of security, and notification. The Company has not received any written complaint or notice of any claims alleging, or been charged with, the violation of any Privacy Requirements. There have been no material breaches, security incidents, misuse of,
or unauthorized access to or disclosure of any Personal Information in the possession or control of the Company or collected, used or otherwise processed by or on behalf of the Company, and the Company has not provided or been required to provide
any notices to any Person in connection with any misuse of, or unauthorized access to or disclosure, of Personal Information. 
 2.26
Real Property Holding Corporation. The Company is not now and has never been a “United States real property holding corporation” as defined in the Code and any applicable regulations promulgated thereunder. The Company has filed
with the Internal Revenue Service all statements, if any, with its United States income tax returns which are required under such regulations. 

2.27 Insurance. The Company has in full force and effect insurance policies concerning such casualties as would be reasonable and
customary for companies like the Company, with extended coverage, which, to the Company’s knowledge, would be sufficient in amount (subject to reasonable deductions) to allow it to replace any of its properties that might be damaged or
destroyed. 
 2.28 Anti-Bribery/Anti-Corruption Laws and Sanctions. Neither the Company nor any of its Subsidiaries nor any of
their respective directors, officers, employees or agents: 
 (a) have, directly or indirectly, made, offered, promised or authorized any
payment or gift of any money or anything of value to or for the benefit of any “foreign official” (as such term is defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”)), foreign political
party or official thereof or candidate for foreign political office for the purpose of (i) influencing any official act or decision of such official, party or candidate,(ii) inducing such official, party or candidate to use his, her or its
influence to affect any act or decision of a foreign governmental authority, or (iii) securing any improper advantage, in the case of (i), (ii) and (iii) above in order to assist the Company or any of its Affiliates in obtaining or
retaining business for or with, or directing business to, any person; 
 (b) have made or authorized any bribe, improper rebate, payoff,
influence payment, kickback or other unlawful payment of funds or received or retained any funds in violation of any applicable law, rule or regulation (including, without limitation, the FCPA, the UK Bribery Act, anti-bribery legislation
promulgated by the European Union and implemented by its members states, and legislation adopted in furtherance of the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions) (collectively,
“Anti-Bribery Laws”), or otherwise violated Anti-Bribery Laws; 
 (c) have violated any applicable trade, economic and
financial sanctions laws, regulations, embargoes, and restrictive measures (in each case having the force of law) administered, enacted or enforced from time to time by governmental bodies with regulatory authority over the Company and its
Subsidiaries (including, without limitation, the U.S. Department of Treasury, Office of Foreign Assets Control and Her Majesty’s Treasury) (collectively, “Sanctions”); 

  
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 (d) are a person or entity that is (i) the target of Sanctions; (ii) located in,
normally resident in, or organized under the laws of a country or territory which is subject to country- or territory-wide Sanctions (including, without limitation, Cuba, Iran, North Korea, Syria, or the Crimea region); or (iii) majority-owned
or controlled by any of the forgoing; or 
 (e) are the subject of any allegation, voluntary disclosure, investigation, prosecution or other
enforcement action by a governmental authority related to Anti-Bribery Laws or Sanctions. 
 2.29 No Integrated Offering.
Neither the Company, its Subsidiaries nor, to the Company’s knowledge, any of its or their Affiliates or Representatives, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security, or
solicited any offers to buy any security, in each case, under circumstances that would require registration of the issuance of any of the Shares under the Securities Act, whether through integration with prior offerings or otherwise, or caused the
offering of the Shares pursuant to the Transaction Agreements to require approval of the stockholders of the Company for purposes of the Securities Act or under any applicable stockholder approval provisions, including under the rules and
regulations of NASDAQ. Neither the Company, its Subsidiaries, nor, to the Company’s knowledge, its or their Affiliates, Representatives nor any Person acting on their behalf will take any action or steps that would require registration of the
issuance of any of the Securities under the Securities Act or cause the offering of any of the Shares pursuant to the Transaction Agreements to be integrated with other offerings of securities of the Company. 

2.30 Sarbanes-Oxley Act. The Company and each Subsidiary is in material compliance with any and all applicable requirements of
the Sarbanes-Oxley Act of 2002, as amended, and any and all applicable rules and regulations promulgated by the SEC thereunder. 

2.31 Customers and Suppliers. (i) Neither the Company nor any of its Subsidiaries is engaged in a material dispute or is in
material breach or material default under any contract with any customer whose purchases from the Company or any of its Subsidiaries exceeded 5% of the consolidated net sales of the Company or suppliers of the Company or any of its Subsidiaries that
represented greater than 5% of the cash cost of goods sold by the Company or any of its Subsidiaries, as applicable, in each case, during the fiscal year ended December 31, 2020, (ii) there has been no material adverse change in the business
relationships of the Company or any of its Subsidiaries with any such customer or supplier, as applicable, since December 31, 2020, and (iii) no such customer or supplier has, to the Company’s knowledge, threatened any material
modification or change in the business relationship with the Company or any of its Subsidiaries. 
 2.32 Application of Takeover
Protections; Rights Agreement. The Company and its Board of Directors have taken all necessary actions, if any, in order to render inapplicable any control share acquisition, interested stockholder, business combination, poison pill (including
any distribution under a rights agreement), stockholder rights plan or other similar anti-takeover provision under any of the Certificate of Incorporation and Bylaws or the laws of the jurisdiction 

  
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of its incorporation or otherwise which is or could become applicable to any Purchasers as a result of the transactions contemplated by the Transaction Agreements, including the Company’s
issuance of the Shares and ownership by Purchasers of the Shares. The Company and its Board of Directors have taken all necessary action, if any, in order to render inapplicable any stockholder rights plan or similar arrangement relating to
accumulations of beneficial ownership of shares of Common Stock or a change in control of the Company or any of its Subsidiaries. 

2.33 Disclosure of Information. The Company understands and confirms that the Purchasers will and are entitled to rely on the
foregoing representations in effecting transactions in securities of the Company. All disclosure provided to the Purchasers regarding the Company and its Subsidiaries, their businesses and the transactions contemplated by the Transaction Agreements,
including the schedules and exhibits to this Agreement, furnished by or on behalf of the Company or any of its Subsidiaries, does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the
statements made therein, in the light of the circumstances under which they were made, not misleading. No event or circumstance has occurred and no information exists with respect to the Company or any of its Subsidiaries or its or their business,
properties, liabilities, operations (including results thereof) or conditions (financial or otherwise), which, under applicable Law, requires public disclosure at or before the date hereof or announcement by the Company but which has not been so
publicly disclosed. All financial projections and forecasts that have been prepared by or on behalf of the Company or any of its Subsidiaries and made available to the Purchasers have been prepared in good faith based upon reasonable assumptions and
represented, at the time each such financial projection or forecast was delivered to the Purchasers, the Company’s best estimate of future financial performance (it being recognized that such financial projections or forecasts are not to be
viewed as facts and that the actual results during the period or periods covered by any such financial projections or forecasts may differ from the projected or forecasted results). The Company acknowledges and agrees that the Purchasers do not make
and have not made any representations or warranties with respect to the transactions contemplated by the Transaction Agreements other than those specifically set forth in Section 3 of this Agreement. 

3. Representations and Warranties of the Purchasers. Each Purchaser, severally and not jointly, hereby represents and
warrants to the Company that: 
 3.1 Authorization. Such Purchaser has full power and authority to enter into and consummate
the Transaction Agreements to which Purchasers are a party. The Transaction Agreements to which the Purchasers is a party, when executed and delivered by such Purchaser, will constitute valid and legally binding obligations of such Purchaser,
enforceable in accordance with their terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any other laws of general application affecting enforcement of creditors’ rights
generally, and as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies. 

3.2 Purchase Entirely for Own Account. This Agreement is made with each such Purchaser in reliance upon such Purchaser’s
representation to the Company that the Shares to be acquired by such Purchaser will be acquired for investment for such Purchaser’s own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof,
and that such Purchaser has no present intention of selling, granting any participation in, or otherwise 

  
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distributing the same. By executing this Agreement, such Purchaser further represents that it does not presently have any contract, undertaking, agreement or arrangement with any Person to sell,
transfer or grant participations to such Person or to any third Person, with respect to any of the Shares. Each Purchaser has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits and
risks of its investment in such the Shares and is capable of bearing the economic risks of such investment. Each Purchaser has been provided a reasonable opportunity to undertake and has undertaken such investigation and has been provided with and
has evaluated such documents and information. 
 3.3 Disclosure of Information. Such Purchaser has had an opportunity to
discuss and has discussed the Company’s business, management, financial affairs and the terms and conditions of the offering of the Shares with the Company’s management as it has deemed necessary to enable it to make an informed and
intelligent decision with respect to the execution, delivery and performance of this Agreement. The foregoing, however, does not limit or modify the representations and warranties of the Company in Section 2 of this
Agreement or the right of such Purchaser to rely thereon. Each Purchaser has conducted its own independent review and analysis of the business, operations, assets, liabilities, results of operations, financial condition and prospects of the Company
and its Subsidiaries and acknowledges such Purchaser has been provided with sufficient access for such purposes. The Purchasers acknowledge and agree that, except for the representations and warranties expressly set forth in
Section 2 or in any certificate delivered by the Company pursuant to this Agreement, (i) no person has been authorized by the Company to make any representation or warranty relating to itself or its business or
otherwise in connection with the transactions contemplated hereby, and if made, such representation or warranty must not be relied upon by the Purchasers as having been authorized by the Company, and (ii) any estimates, projections,
predictions, data, financial information, memoranda, presentations or any other materials or information provided or addressed to the Purchasers or any of its Affiliates or representatives are not and shall not be deemed to be or include
representations or warranties of the Company unless any such materials or information are the subject of any express representation or warranty set forth in Section 2 or in any certificate delivered by the Company pursuant
to this Agreement. Notwithstanding anything to the contrary, nothing in this Section 3.3 shall limit the Purchasers’ remedies with respect to claims of fraud or willful misconduct. 

3.4 Restricted Securities. Such Purchaser understands that the Shares to be acquired by it have not been, and will not be,
registered under the Securities Act, by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of such
Purchaser’s representations as expressed herein. Such Purchaser understands that the Shares to be acquired by it are “restricted securities” under applicable U.S. federal and state securities laws and that, pursuant to these
laws, such Purchaser must hold the Shares indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available. Such Purchaser acknowledges that
the Company has no obligation to register or qualify the Shares to be acquired by it, or the Warrants or the Common Stock issuable upon exercise of the Warrants, for resale except as set forth in the Investor Rights Agreement. Such Purchaser further
acknowledges that if an exemption from registration or qualification is available, it may be conditioned on various requirements, including, but not limited to, the time and manner of sale, the holding period for Shares, and on requirements relating
to the Company which are outside of such Purchaser’s control. 

  
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 3.5 Legends. Such Purchaser understands that the Shares to be acquired by it,
the Warrant and any shares of Common Stock issuable upon exercise of the Warrants may bear one or all of the following legends: 
 (a)
“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH TRANSFER
MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933”; 

(b) any legend set forth in, or required by, the other Transaction Agreements; or 

(c) any legend required by the securities laws of any state to the extent such laws are applicable to the Shares represented by the
certificate, instrument, or book entry so legended. 
 3.6 Accredited Investor. Such Purchaser and all of its equity owners are
each accredited investors as defined in Rule 501(a) of Regulation D promulgated under the Securities Act. 
 3.7 Sufficient
Funds. The Purchasers have, and at all times at and prior to the Closing will have, in the aggregate cash in immediately available funds or uncalled and unrestricted capital commitments in excess of the Aggregate Purchase Price. 

3.8 No Additional Representations. The Purchasers acknowledge that the Company does not make any representation or warranty as to
any matter whatsoever except as expressly set forth in Section 2 or in any certificate delivered by the Company pursuant to this Agreement, and specifically (but without limiting the generality of the foregoing), that,
except as expressly set forth in Section 2 or in any certificate delivered by the Company pursuant to this Agreement, the Company makes no representation or warranty with respect to (a) any matters relating to the
Company, its business, financial condition, results of operations, prospects or otherwise, (b) any projections, estimates or budgets delivered or made available to the Purchasers (or any of its Affiliates, officers, directors, employees or
other representatives) of future revenues, results of operations (or any component thereof), cash flows or financial condition (or any component thereof) of the Company and its Subsidiaries or (c) the future business and operations of the
Company and its Subsidiaries. Notwithstanding anything to the contrary, nothing in this Section 3.8 shall limit the Purchaser’s remedies with respect to claims of fraud or willful misconduct, 

  
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 4. Covenants. 

4.1 Maintenance of Existence. From and after the Closing until the date on which no Shares remain outstanding (the
“Series A Period”), the Company shall, and shall cause each of its Significant Subsidiaries to, preserve and maintain its corporate, limited partnership or limited liability company existence, as applicable, and good standing in the
jurisdiction of its incorporation or formation and qualify and remain qualified to transact business in each jurisdiction in which such qualification is required except where the failure to so qualify to transact business could not reasonably be
expected to affect in any material respect the financial condition, operations, properties or business of the Company or any of its Significant Subsidiaries. 

4.2 Compliance With Provisions. During the Series A Period, the Company shall comply in all respects with each provision of the
Certificate of Designations and each other provision of the Certificate of Incorporation, this Agreement, and the other Transaction Agreements governing the rights, preferences, powers and privileges of the Series A Preferred Stock, including by not
taking any action that would require the prior written consent of the Series A Requisite Majority under the Series A Protective Provisions without the prior written consent of the Series A Requisite Majority; provided, that, for the avoidance of
doubt, no such consent shall be required with respect to the consummation of any transaction or series of related transactions, including any financing or sale of assets, securities or other property which actually results in the redemption in full
of all of the then outstanding Shares at a price per share equal to the Series A Redemption Price. 
 4.3 Interim Operations.
During the period from the date hereof until the Closing, the Company shall, and shall cause each of its Subsidiaries to, (1) operate their respective business in the ordinary course of business consistent with past practice, and (2) not
take or agree to take any actions that would violate or would reasonably be expected to violate any affirmative or negative covenant set forth in the Certificate of Designations (assuming for such purposes that the Certificate of Designations were
in effect from and after the date of this Agreement). 
 4.4 Taxes. 

(a) During the Series A Period, the Company is and will remain classified as a corporation for United States federal income tax purposes. 

(b) The Company shall not withhold United States federal tax from any payment (including deemed payments) made on or with respect to the
Shares, unless such withholding is otherwise required by applicable law. 
 4.5 Notifications. During the Series A Period, the
Company shall provide the Purchasers with prompt notice of the occurrence of any change, fact or condition which, to the Company’s knowledge, upon notice, lapse of time or both would result in, or would reasonably be expected to result in, a
Material Adverse Effect. 
 4.6 Credit Agreement Payoff(a) . Within thirty (30) days of the date hereof (and in any
event prior to the Closing), the Company shall (i) deliver (or cause to be delivered) a notice of the payoff of any outstanding indebtedness and all other obligations of the Company and its Subsidiaries under the Credit Agreement and the Loan
Documents (as defined in the Credit Agreement) (other than obligations which expressly survive termination thereof) and a termination 

  
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of commitments thereunder in accordance with and within the time periods required by the Credit Agreement (which notice may be conditioned upon the Closing to the extent permitted under the
Credit Agreement) (such indebtedness, collectively, the “Credit Agreement Payoff Amount”), (ii) take all other actions required or advisable to facilitate the payment of the Credit Agreement Payoff Amount with respect to and
termination of the commitments under such indebtedness and termination of all guarantees granted in connection therewith, and release and discharge of all liens securing such indebtedness, and (iii) obtain a customary payoff letter or other
similar evidence in form and substance reasonably acceptable to the Purchasers (the “Credit Agreement Payoff Letter”) at least one Business Day prior to the Closing Date. The Company shall irrevocably pay off, or cause to be
paid off, at or prior to the Closing on the Closing Date, the Credit Agreement Payoff Amount. 
 4.7 Additional Investment.
Each Purchaser shall, severally and not jointly, at each such Purchaser’s sole election and discretion, purchase from the Company its pro rata share of an additional 200,000 shares of Series A Preferred Stock (based on the proportion of the
shares of Series A Preferred Stock to be purchased by each such Purchaser at the Closing) for use by the Company in the event that such investment is mutually agreed upon by the Company and each such Purchaser to be desirable. 

4.8 Regulatory Filings. 

(a) If the Company and the Purchasers determine that a filing is required under the HSR Act with respect to (i) the Shares, (ii) the
exercise of the Warrants, (iii) any exercise of the Company Draw Right, or (iv) to permit the exercise of any rights that can be exercised by the holders of the Shares following any Event of Noncompliance or Special Event of Noncompliance,
then the Company and the Purchasers shall, as promptly as practicable, but in no event later than ten (10) Business Days following (A) the execution and delivery of this Agreement with respect to the Shares, (B) following notice from
the Purchasers to the Company with respect to the Purchasers’ planned exercise of the Warrants, (C) following notice from the Company to the Purchasers with respect to the Company’s planned exercise of a Company Draw Right or
(D) the delivery of the applicable notice of an Event of Noncompliance or Special Event of Noncompliance, as applicable, file or cause to be filed with the United States Federal Trade Commission and the United States Department of Justice, the
notification and report form required for the transactions contemplated hereby and any supplemental information requested in connection therewith pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and
regulations promulgated thereunder (“HSR Act”). The Company and the Purchasers shall furnish to each other’s counsel such necessary information and reasonable assistance as the other may request in connection with its
preparation of any filing or submission that is necessary under the HSR Act and any other antitrust regulations. The Purchasers shall be responsible for the filing fees payable in connection with the filings described in the first sentence of this
Section 4.8(a). 
 (b) The Company and the Purchasers shall: (i) use their commercially reasonable efforts to
promptly obtain any clearance required under the HSR Act, including by requesting the termination or the acceleration of any applicable waiting or review periods thereunder; (ii) keep each other apprised of the status of any communications
with, and any inquiries or requests for additional information from any governmental body; and (iii) comply 

  
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promptly with any such inquiry or request and supply to any governmental body without undue delay any additional information requested. Neither the Company nor the Purchasers shall participate in
any meeting or material discussion with any governmental body with respect of any such filings, applications, investigation, or other inquiry without giving the other party prior notice of the meeting or discussion and, to the extent permitted by
the relevant governmental body, the opportunity to attend and participate in such meeting or discussion (which, at the request of either the Purchasers or the Company, shall be limited to outside antitrust counsel only). 

(c) Nothing in this Agreement, including this Section 4.8, shall require the Purchasers or any of its Affiliates, on
the one hand, or the Company or any of its Subsidiaries, on the other hand to: (i) proffer to, agree to, or to sell, divest, lease, license, transfer, dispose of or otherwise encumber or hold separate, before or after the date of this
Agreement, any of its assets, or the Shares (or to consent thereto); (ii) proffer, agree to or implement any changes in (including through a licensing arrangement), or any restrictions on or other impairment of, its ability to use, own, operate or
take any other actions with respect to any of its assets, the Shares or its ability to vote, transfer, receive dividends or otherwise exercise full ownership or other rights with respect to the Shares; or (iii) take any action to overturn,
defend against or oppose any action by any governmental authority or regulatory body to prohibit the transactions contemplated by this Agreement or prevent, materially delay or materially impair consummation of the transactions contemplated by this
Agreement. 
 4.9 Information and Access. 

(a) Subject to applicable Law, the Company shall (and shall cause its Subsidiaries to), upon reasonable prior notice, afford the Purchasers
and its Representatives reasonable access, during normal business hours, and subject to generally applicable health and safety protocols, from the date of this Agreement and continuing until the earlier of the Closing and the termination of this
Agreement pursuant to Section 7, to the Company employees, agents, properties, offices and other facilities, contracts, books and records of the Company and its Subsidiaries, and, during such period, the Company shall (and
shall cause its Subsidiaries to) furnish promptly to the Purchasers all other information and documents concerning or regarding its businesses, properties and assets and personnel as may reasonably be requested by the Purchasers or any of their
Representatives; provided, however, that: (i) notwithstanding the foregoing, neither the Company nor any of its Subsidiaries shall be required to provide such access or furnish such information or documents to the extent doing so would waive or
jeopardize the protection of any attorney-client privilege or protection (including attorney-client privilege, attorney work-product protections and confidentiality protections) or any other applicable privilege or protection concerning pending or
threatened Proceedings. 
 (b) To the extent that any of the information or documents furnished or otherwise made available pursuant to this
Section 4.9 or otherwise in accordance with the terms and conditions of this Agreement or the Confidentiality Agreement constitutes information or documents that may be subject to an attorney-client privilege or protection
(including attorney-client privilege, attorney work-product protections and confidentiality protections) or any other applicable privilege or protection concerning pending or threatened proceedings, the Parties understand and agree that they have a
commonality of interest with respect to such matters and it is their desire, intention and mutual understanding that the sharing of such material and information is not intended to, and shall not, waive or diminish in any way the confidentiality of
such material or information or its continued protection under such privileges and protections. 

  
 -27- 

 (c) No access or information provided to the Purchasers or any of its Representatives or to
the Company or any of its Representatives following the date of this Agreement, whether pursuant to this Section 4.9 or otherwise, shall affect or be deemed to affect, modify or waive the representations and warranties of
the Parties set forth in this Agreement 
 4.10 Company Draw Right. 

(a) General. Until the second anniversary of the Closing Date, the Purchasers hereby commit to provide the Company with an aggregate
amount of $50,000,000.00 (the “Aggregate Draw Amount”) in additional equity funding (consistent with the allocation set forth on Exhibit B hereto) in exchange for Additional Equity (as defined below), on the terms and
subject to the conditions set forth herein (the “Company Draw Right”). The Draw Amount shall be paid by the Purchasers in cash payable at the Draw Closing (as defined below) by wire transfer of immediately available funds to an
account specified by the Company in writing at least two Business Days prior to the Draw Closing. The use of any Draw Amount shall be determined by the Board of Directors. 

(b) Exercise. To exercise the Company Draw Right, the Company shall deliver a written notice (the “Draw Notice”) to
the Purchasers setting forth the Company’s exercise of the Company Draw Right and the amount of equity requested thereunder (as applicable, the “Draw Amount”). The Company shall be permitted to exercise the Company Draw Right
on one or more occasions (up to the Aggregate Draw Amount), provided that any Draw Amount specified in the applicable Draw Notice shall be for an amount greater than or equal to $25,000,000.00. 

(c) Additional Equity. In exchange for the investment of the Draw Amount at the Draw Closing, the Purchasers shall receive Additional
Equity at the Draw Closing. For purposes of this Agreement, “Additional Equity” means a number of shares of Series A Preferred Stock equal to (i) the applicable Draw Amount divided by (ii) $1,000.00. Notwithstanding
anything to the contrary herein, Article III (Preemptive Rights) of the Investor Rights Agreement shall not apply with respect to the funding and issuance of the Draw Amount and Additional Equity hereunder. 

(d) Draw Closing. The closing of the funding and issuance of an applicable Draw Amount and the corresponding Additional Equity
contemplated hereby (a “Draw Closing”) shall take place remotely via the electronic exchange of documents and signatures, or at such other time and place as the Company and the Purchasers may agree in writing, on the third (3rd)
Business Day after satisfaction or waiver of the conditions set forth below (other than those conditions that by their terms are to be satisfied at the Draw Closing, but subject to the satisfaction or waiver of those conditions); provided
that in no event shall a Draw Closing occur prior to the date that is ten Business Days following the date on which the Draw Notice is delivered to the Purchasers, unless such limitation is waived by the Purchasers in writing. 

  
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 (e) Conditions to Draw Closing. The obligations of the Purchasers to consummate the
funding of the Draw Amount contemplated hereby at the Draw Closing shall be subject (unless waived in writing by the Purchasers) to (i) the satisfaction, prior to or at the Draw Closing, of (1) the conditions set forth in Sections
5.1(a) (Material Adverse Effect), 5.1(b) (No Legal Impediment to Issuance), 5.1(c) (Accuracy of the Representations and Warranties), 5.1(d) (Compliance with Covenants), 5.1(f) (Delivery
of Closing Certificate), applying mutatis mutandis to the Company Draw Right and issuance of the Additional Equity, and (2) the receipt of any consent, approval, order or authorization of (including the expiration or earlier
termination of any applicable waiting period under the HSR Act, if applicable), or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority reasonably necessary to consummate the Draw
Closing, and (ii) the Purchaser’s receipt of the applicable Additional Equity at the Draw Closing. 
 4.11 No Alternative
Financing. During the period from the date of this Agreement until the Closing, the Company shall not, and shall cause each of its Affiliates and Representatives not to: 

(a) initiate, solicit, or encourage or assist any inquiries or the making of any proposal or offer concerning an Alternative Financing,
including by way of furnishing or otherwise making available any information or data concerning the Company or its Subsidiaries or any assets owned (in whole or part) by the Company or its Subsidiaries; 

(b) engage in, continue or otherwise participate in any discussions, communications or negotiations with any Person concerning an Alternative
Financing; 
 (c) enter into any agreement or agreement in principle (in each case, whether written or oral) with any Person concerning an
Alternative Financing; or 
 (d) otherwise facilitate any effort or attempt by any Person to make a proposal or offer concerning an
Alternative Financing. 
 5. Conditions to the Obligations of the Parties. 

5.1 Conditions to the Obligations of the Purchasers. The obligations of the Purchasers to consummate the purchase of the
shares of Series A Preferred Stock contemplated hereby shall be subject to (unless waived in writing by the Purchasers) the satisfaction of the following conditions prior to or at the Closing: 

(a) Material Adverse Effect. Since the date of this Agreement, there shall not have occurred a Material Adverse Effect. 

(b) No Legal Impediment to Issuance. No applicable Law will have been enacted or made effective and no Governmental Order will have
been issued, promulgated, enforced or made that serves to restrain, enjoin, make illegal or prohibit the timely consummation of the transactions contemplated by this Agreement, and no action by a Governmental Entity will have been commenced and be
continuing that seeks to restrain, enjoin, make illegal or prohibit the timely consummation of the transactions contemplated by this Agreement. 

  
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 (c) Accuracy of the Representations and Warranties. (i) The Company Fundamental
Representations shall be true and correct in all respects as of the date hereof and as of the Closing as though made at and as of the Closing (other than such representations and warranties as are made as of an earlier date, which shall be so true
and correct as of such earlier date) and (ii) the other representations and warranties of the Company (A) that are qualified by “materiality”, “Material Adverse Effect” or similar qualifier shall be true and correct in
all respects as of the date hereof and as of the Closing as though made at and as of the Closing (other than such representations and warranties as are made as of an earlier date, which shall be so true and correct as of such earlier date) and
(B) that are not qualified by “materiality”, “Material Adverse Effect” or similar qualifier shall be true and correct in all material respects as of the date hereof and as of the Closing as though made at and as of the
Closing (other than such representations and warranties as are made as of an earlier date, which shall be so true and correct as of such earlier date). 

(d) Compliance with Covenants. The Company shall have performed and complied, in all material respects, with all of its covenants and
agreements contained in this Agreement that contemplate, by their terms, performance or compliance prior to the Closing. 
 (e) Receipt
of Payoff Letter. The fully executed Credit Agreement Payoff Letter, in form and substance reasonably satisfactory to the Purchasers, shall have been delivered to the Purchasers within thirty (30) days of the date hereof and shall be in
full force and effect. 
 (f) Delivery of the Closing Certificate. The Company shall have delivered to the Purchasers a certificate
duly executed by the Chief Executive Officer of the Company certifying that the conditions set forth in clauses (a), (c) and (d) of this Section 5.1 have been fully satisfied. 

(g) Other Deliverables and Actions. The Company shall have delivered or caused to be delivered and shall have taken each of the actions
contemplated by Section 1.2(a). 
 5.2 Conditions to the Obligations of the Company. The obligations
of the Company to consummate the sale of the Shares of Series A Preferred Stock contemplated hereby shall be subject to (unless waived in writing by the Company) the satisfaction of each of the following conditions prior to or at the Closing: 

(a) No Legal Impediment to Issuance. No applicable Law will have been enacted or made effective and no Governmental Order will have
been issued, promulgated, enforced or made that serves to restrain, enjoin, make illegal or prohibit the consummation of the transactions contemplated by this Agreement, and no action by a Governmental Authority will have been commenced and be
continuing that seeks to restrain, enjoin, make illegal or prohibit the consummation of the transactions contemplated by this Agreement 

  
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 (b) Accuracy of the Representations and Warranties. The representations and
warranties of the Purchasers (A) that are qualified by “materiality” or similar qualifier shall be true and correct in all respects as of the date hereof and as of the Closing as though made at and as of the Closing (other than such
representations and warranties as are made as of an earlier date, which shall be so true and correct as of such earlier date) and (B) that are not qualified by “materiality” or similar qualifier shall be true and correct in all
material respects as of the date hereof and as of the Closing as though made at and as of the Closing (other than such representations and warranties as are made as of an earlier date, which shall be so true and correct as of such earlier date).

 (c) Compliance with Covenants. The Purchasers shall have performed and complied, in all material respects, with all of its
covenants and agreements contained in this Agreement that contemplate, by their terms, performance or compliance prior to the Closing. 

(d) Delivery of the Closing Certificate. The Purchasers shall have delivered to the Company a certificate duly executed by an
authorized representative of each such Purchaser certifying that the conditions set forth in clauses (b) and (c) of this Section 5.2 have been fully satisfied. 

(e) Other Deliverables and Actions. The Purchasers shall have delivered or caused to be delivered and shall have taken each of the
actions contemplated by Section 1.2(b). 
 6. Indemnification. 

6.1 Indemnity by the Company. From and after the date of this Agreement, the Company (the “Company Indemnitor”)
agrees to indemnify, defend and hold harmless each Purchaser and its Affiliates, agents, representatives, equity holders, directors and officers and their respective successors, assigns, heirs and personal representatives (collectively, the
“Purchasers Indemnitees”) from and against and to pay Purchasers for any and all payment, cost, liability, interest, damage, disbursement, expense, loss, injury, deficiency, penalty, settlement and fees, tax, costs or expenses
(including all reasonable legal, accounting and other professional fees and all reasonable expenses and costs arising from the collection, prosecution, and defense of such in connection therewith) (collectively, “Damages”), incurred
or suffered by any Purchasers Indemnitee to the extent arising directly or indirectly out of any breach or violation of, or any inaccuracy in, any representation or warranty in Section 2 or by the Company in any certificate
delivered pursuant to this Agreement or any covenant made by the Company in this Agreement. 
 6.2 Indemnity by the
Purchasers. From and after the date of this Agreement, each Purchaser, severally and not jointly, (the “Purchasers Indemnitor”, and together with the Company Indemnitor, the “Indemnitors” and each an
“Indemnitor”) agrees to indemnify, defend and hold the Company and its Affiliates, agents, representatives, equity holders (other than Purchasers), directors and officers and their respective successors, assigns, heirs and personal
representatives (collectively, the “Company Indemnitees”, and together with the Purchasers Indemnitees, the “Indemnitees” and each an “Indemnitee”) harmless from and against and to pay the Company
for any and all Damages incurred or suffered by any Company Indemnitee to the extent arising directly or indirectly out of any breach or violation of, or any inaccuracy in, any representation or warranty in Section 3 or any
covenant made by such Purchaser in this Agreement. 
 6.3 Expiration of Representations and Warranties; Exclusive Remedy. 

  
 -31- 

 (a) Except in the case of fraud or willful misconduct, (i) the Company Fundamental
Representations shall survive the Closing indefinitely, (ii) the representations and warranties contained in Section 4.4 (Taxes) shall survive the Closing until the date that is sixty (60) days after the
expiration of the applicable statute of limitations, and (iii) all the representations and warranties of the Company and Purchasers contained in this Agreement and not described in clauses (i) or (ii) shall survive the Closing until the
date that is eighteen (18) months following the date of the Closing. Notwithstanding the foregoing, any bona fide claims asserted in good faith with reasonably specificity (to the extent known at such time) and in writing by notice from
the Indemnitees to the Indemnitor prior to the expiration date of the applicable survival period shall not thereafter be barred by the expiration of such survival period and such claims shall survive until finally resolved. All covenants and
agreements made by any party in this Agreement shall survive until performed or the obligation to so perform shall have expired and any claim for indemnification for a breach of any such covenant or agreement shall survive until the expiration of
the applicable statute of limitations. 
 (b) It is the intention of the parties to this Agreement that the survival periods set forth in
Section 6.3(a) supersede any statute of limitation applicable to the representations and warranties contained in this Agreement or claim in respect thereof, except in the case of fraud or willful misconduct. Except in the
case of fraud or willful misconduct, the monetary remedies set forth in this Section 6.3(b) shall provide the sole and exclusive remedies arising out of or in connection with any breach or alleged breach of any
representation or warranty made herein. Each of the parties to this Agreement acknowledges that this Section 6.3 has been negotiated fully and at arm’s length and that the parties would not have entered into this
Agreement but for this Section 6.3. 
 6.4 Limitations on Liability. Except in the case of fraud or
willful misconduct, in no event shall the aggregate liability of an Indemnitor under Section 6.1 or Section 6.2, as applicable, exceed an aggregate amount equal to the amount that has been actually
funded by Purchasers on the date of the Closing. The right of a Person to any remedy pursuant to this Section 6 shall not be affected by any investigation or examination conducted, or any Knowledge possessed or acquired (or
capable of being possessed or acquired), by such Person at any time concerning any circumstance, action, omission or event relating to the accuracy or performance of any representation, warranty, covenant or obligation. In no event shall any
Indemnitee be entitled to recover or make a claim for any amounts in respect of, and in no event shall “Damages” be deemed to include, lost profits or revenues (including any damages on account of lost or delayed opportunities) or punitive
damages other than those required by or awarded to a third party. 
 6.5 Third-Party Claims. If any Indemnitee receives notice
of the assertion or commencement of any action, suit, claim, arbitration, mediation or other legal proceeding made or brought by any Person who is not a party to this Agreement or an Affiliate of a party to this Agreement (a “Third-Party
Claim”) against such Indemnitee with respect to which the Indemnitor is obligated to provide indemnification under this Agreement, the Indemnitee shall give the Indemnitor prompt written notice thereof. The failure to give such prompt
written notice shall not, however, relieve the Indemnitor of its indemnification obligations, except to the extent that the Indemnitor is materially prejudiced by reason of such failure. Such notice by the Indemnitee shall describe the Third-Party
Claim in reasonable detail, and shall, to the extent reasonably practicable, include copies of material written evidence thereof and material correspondence from or to such third-party (or its representatives) related to the matter giving rise to
such Third-Party Claim and shall indicate the estimated amount (which estimate shall not be conclusive of the final amount of such Third-Party Claim), if reasonably practicable, of the Damages that have been sustained by the Indemnitee. 

  
 -32- 

 (a) The Indemnitor and the Indemnitee shall cooperate with each other in all reasonable
respects in connection with the defense of any Third-Party Claim, including, granting reasonable access to the other party during normal business hours to the premises, personnel and documents or records of the Indemnitor and the Indemnitee, as
applicable, at the expense of the requesting party, as may be reasonably requested for the defense and preparation of the defense of such Third-Party Claim; provided, that the requesting party shall (A) use commercially reasonable
efforts to prevent the disruption of the business of the other party and its Affiliates, and (B) not request disclosure of any confidential or legally privileged information, or any personal information, other than in compliance with applicable
law. 
 (b) Notwithstanding any other provision of this Agreement, neither the Indemnitor nor the Indemnitee shall enter into settlement or
compromise of, or offer to settle or compromise, or consent to the entry of any judgment with respect to, any Third-Party Claim without the prior written consent of the other (which consent shall not be unreasonably withheld, conditioned or
delayed); provided that such consent may be withhold in Indemnitee’s sole discretion in the event such settlement or compromise of, or offer to settle or compromise, or consent to the entry of any judgment with respect to any Third-Party
Claim is on a basis that would result in (A) the imposition of a consent order, injunction or decree that would restrict the future activity or conduct of the Indemnitee or any of its Affiliates, (B) a finding or admission of any violation
of laws or any violation of the rights of any Person by the Indemnitee or any of its Affiliates, (C) a finding or admission that would have an adverse effect on the reputation of the Indemnitee or any of its Affiliates or on any other claims
made or threatened against any such Persons, (D) any monetary liability that is not paid in full by the Indemnitor or (E) any non-monetary condition or obligation being imposed on the Indemnitee or
any of its Affiliates. 
 6.6 Direct Claims. Any claim by an Indemnitee on account of a Damage which does not result from a
Third-Party Claim (a “Direct Claim”) shall be asserted by the Indemnitee giving the Indemnitor prompt written notice thereof. The failure to give such prompt written notice shall not, however, relieve the Indemnitor of its
indemnification obligations, except to the extent that the Indemnitor is materially prejudiced by reason of such failure. Such notice by the Indemnitee shall describe the Direct Claim in reasonable detail, shall include copies of all material
written evidence thereof and shall indicate the estimated amount (which estimate shall not be conclusive of the final amount of such Direct Claim), if reasonably practicable, of the Damages that have been sustained by the Indemnitee. The Indemnitor
shall have thirty (30) days after its receipt of such notice to respond in writing to such Direct Claim. During such thirty (30)-day period, the Indemnitee shall use commercially reasonable efforts to
allow the Indemnitor and its professional advisors to investigate the matter or circumstance alleged to give rise to the Direct Claim, and whether and to what extent any amount is payable in respect of the Direct Claim and the Indemnitee shall use
commercially reasonable efforts to assist the Indemnitor’s investigation by providing reasonable access during normal business hours to the Indemnitee’s premises and personnel and documents or records as the Indemnitor or any of its
professional advisors may reasonably request; provided, that the Indemnitor shall (i) use commercially reasonable efforts to 

  
 -33- 

 
prevent the disruption of the business of the Indemnitor and its Affiliates, and (ii) not request the Indemnitee to disclose any confidential or legally privileged information, or any
personal information, other than in compliance with applicable law. If the Indemnitor does not so respond within such thirty (30)-day period, the Indemnitor shall be deemed to have rejected such Direct Claim,
in which case the Indemnitee shall be free to pursue any remedies as may be available to the Indemnitee under this Agreement. 
 6.7
Tax Characterization. 
 All indemnification payments under this Section 6 shall be treated as adjustments
to the applicable Purchaser’s relevant Purchase Price for all tax purposes, except as otherwise required by applicable law. 
 7.
Termination. 
 7.1 Termination. This Agreement may be terminated, and the transactions contemplated hereby may be
abandoned, at any time prior to the Closing: 
 (a) by mutual written consent of the Company and the Purchasers; 

(b) by the Company or the Purchasers, upon written notice to the other party, if the Closing shall not have been consummated on or prior to
5:00 pm Pacific Time on the 60th day following the date of this Agreement or such later date, if any, as the Company and the Purchasers may mutually agree upon in writing (such date, the
“Termination Date”); provided, however, that the right to terminate this Agreement pursuant to this Section 7.1(b) shall not available to any party whose breach of any representation, warranty, covenant or
other agreement contained in this Agreement is the primary cause of the failure of the Closing to occur on or prior to the Termination Date 

(c) by the Company or the Purchasers, upon written notice to the other parties, if a Governmental Entity of competent jurisdiction has issued
an Governmental Order or has taken any other action permanently enjoining or otherwise prohibiting the consummation of the transactions contemplated by this Agreement, and such Governmental Order or action has become final and non-appealable; provided, however, that the right to terminate this Agreement pursuant to this Section 7.1(c) shall not be available to any party whose breach of any representation,
warranty, covenant or other agreement contained in this Agreement is the primary cause of the failure to avoid such Governmental Order or other action. 

(d) by the Purchasers, upon written notice to the Company, so long as the Purchasers are not then in breach of their representations,
warranties, covenants or other agreements made by the Purchasers in this Agreement and such breach would cause a condition to the Closing to not be able to be satisfied if: (A) the Company has breached any representation, warranty, covenant or
other agreement made by the Company in this Agreement or such representation or warranty shall have become inaccurate and such breach or inaccuracy would, individually or in the aggregate, cause a condition to the Closing to not be able to be
satisfied, (B) the Purchasers shall have delivered written notice of such breach or inaccuracy to the Company and (C) such breach or inaccuracy is not cured by the Company before the earlier of (x) the twentieth (20th) Business Day after receipt of such written notice and (y) one (1) Business Day before the Termination Date; or 

  
 -34- 

 (e) by the Company, upon written notice to the Purchasers, so long as the Company is not
then in breach of its representations, warranties, covenants or other agreements made by the Company in this Agreement and such breach would cause a condition to the Closing to not be able to be satisfied if: (A) the Purchasers have breached
any representation, warranty, covenant or other agreement made by Purchasers in this Agreement or such representation or warranty shall have become inaccurate and such breach or inaccuracy would, individually or in the aggregate, cause a condition
to the Closing to not be able to be satisfied, (B) the Company shall have delivered written notice of such breach or inaccuracy to the Purchasers and (C) such breach or inaccuracy is not cured by the Purchasers before the earlier of
(x) the twentieth (20th) Business Day after receipt of such written notice and (y) one (1) Business Day before the Termination Date. 

7.2 Effect of Termination. Upon termination of this Agreement pursuant to this Section 7, this
Agreement shall forthwith become void and there shall be no further obligations or liabilities on the part of the parties; provided, this Section 7.2 and Section 8 (Miscellaneous) shall
survive the termination of this Agreement; provided further that nothing set forth in this Agreement shall relieve any Party from liability for any willful or intentional breach of this Agreement. 

8. Miscellaneous. 

8.1 Successors and Assigns. Except as otherwise expressly provided herein, the terms and conditions of this Agreement 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 the Shares from
time to time; provided, however, that prior to the receipt by the Company of adequate written notice of the transfer of the Shares 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; provided, further, that the Purchasers may transfer or assign their rights and obligations under this Agreement in whole or
from time to time in part, to (1) one or more of their Affiliates at any time, and (2) after the Closing Date, to any Person; provided that such transfer or assignment shall not relieve the Purchasers of their obligations hereunder or
enlarge, alter or change any obligation of any other party hereto or due to the Purchasers. 
 8.2 Governing Law. This
Agreement and any controversy arising out of or relating to this Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware as to matters within the scope thereof, and as to all other matters
shall be governed by and construed in accordance with the internal laws of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware. 

  
 -35- 

 8.3 Counterparts. This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including .pdf or any electronic signature complying with the U.S.
federal ESIGN Act of 2000, the Uniform Electronic Transactions Act or other applicable law, e.g., www.docusign.com) 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. 
 8.4 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. 
 8.5 Notices. All notices and
other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or: (a) personal delivery to the party to be notified, (b) when sent, if sent by
electronic mail or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s 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) Business Day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. If notice is
given to the Company, it shall be sent to TPI Composites, Inc., 8501 N. Scottsdale Road, Gainey Center II, Suite 100, Scottsdale, AZ 85253, Attention: William E. Siwek and Steven Fishbach; and a copy (which shall not constitute notice) shall also be
sent to Goodwin Procter LLP, 601 Marshall Street, Redwood City, California 94063, Attention: Bradley C. Weber and Kim de Glossop. If notice is given to Purchasers, it shall be sent to c/o Oaktree Capital Management, LP, 333 S. Grand Ave., 28th
Floor, Los Angeles, California 90071, Attention: Jordan Mikes, Peter Jonna, and Brook Hinchman; and a copy (which shall not constitute notice) shall also be sent to Sullivan & Cromwell LLP, 1888 Century Park East, Suite 2100, Los Angeles,
California 90067, Attention: Patrick S. Brown and Rita-Anne O’Neill. 
 8.6 No Finder’s Fees. Each
party represents that it neither is nor will be obligated for any finder’s fee or commission in connection with this transaction whose fees the other party would be required to pay. The Purchasers agree to indemnify and to hold harmless the
Company from any liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against such liability or asserted liability) for which the
Purchasers or any of its officers, employees or representatives is responsible. The Company agrees to indemnify and hold harmless the Purchasers from any liability for any commission or compensation in the nature of a finder’s or broker’s
fee arising out of this transaction (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible. 

8.7 Further Assurances. Following the date of this Agreement, the parties to this Agreement shall cooperate with one another to
prepare and file all documents and forms and amendments thereto as may be required under applicable law with respect to the transactions contemplated by this Agreement and/or the other Transaction Agreements, including but not limited to any
required notification and report forms under the HSR Act or the applicable laws of any Governmental Authority required for the transactions contemplated by this Agreement and/or the other Transaction Agreements and any concurrent offering of the
Company to the Purchasers or any of its Affiliates. 

  
 -36- 

 8.8 Transaction Expenses. At the Closing, the Company shall pay or reimburse
all reasonable and documented out-of-pocket fees, costs, and expenses (including, without limitation, reasonable fees and disbursements of counsel, reasonable consultant
costs and expenses, filing and recording fees, and reasonable costs and expenses associated with business, accounting, asset, tax and legal due diligence, travel, appraisals, valuations, and audits) (the “Transaction Expenses”)
incurred by or on behalf of the Purchasers, its Affiliates and Representatives (whether before, on, or after the date hereof) in connection with (i) business, accounting, asset, tax and legal due diligence, (ii) the preparation,
negotiation, execution, and delivery of this Agreement, and any and all documentation for the Transaction, and (iii) the enforcement of any of the Purchasers’ rights and remedies under this Agreement, in each case irrespective of whether
the Transaction is consummated (including, for the avoidance of doubt, any costs and expenses incurred in connection with the collection of the Transaction Expenses) promptly (and in any event within five (5) Business Days) following request
therefor by the Purchasers. 
 8.9 Amendments and Waivers. Any provision of this Agreement may be amended or waived if, and
only if, such amendment or waiver is in writing and signed, in the case of an amendment, by Purchasers and the Company, or in the case of a waiver, by the party against whom the waiver is to be effective. No failure or delay by any party in
exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 

8.10 Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or
enforceability of any other provision. 
 8.11 Delays or Omissions. No delay or omission to exercise any right, power or remedy
accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any
single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement,
or any waiver on the part of any party 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 or by law or
otherwise afforded to any party, shall be cumulative and not alternative. 
 8.12 Entire Agreement. This Agreement (including
the Exhibits hereto), the Certificate of Designations and the other Transaction Agreements constitute the full and entire understanding and agreement between the parties with respect to the subject matter hereof, and any other written or oral
agreement relating to the subject matter hereof existing between the parties are expressly canceled. 

  
 -37- 

 8.13 Dispute Resolution. The parties (a) hereby irrevocably and
unconditionally submit to the jurisdiction of the state courts of the State of Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action or other proceeding arising out of
or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of the State of Delaware or the United States District Court for the District of
Delaware, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts,
that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter
hereof may not be enforced in or by such court. 
 Each party will bear its own costs in respect of any disputes arising under this
Agreement. The prevailing party shall be entitled to reasonable attorney’s fees, costs, and necessary disbursements in addition to any other relief to which such party may be entitled. 

8.14 WAIVER OF JURY TRIAL. EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR
ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT
MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS
SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND
THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 
 [Remainder of page
intentionally left blank] 

  
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 IN WITNESS WHEREOF, the parties have executed this Series A Preferred Stock Purchase
Agreement as of the date first written above. 
  

			
	 COMPANY:
  

TPI Composites, Inc.

		
	By:	 	 /s/ William E. Siwek

		 	Name: William E. Siwek
		 	Title: President and Chief Executive Officer

 [Signature Page to Series A Stock Purchase Agreement] 

  

			
	PURCHASERS:
	
	 Oaktree Power Opportunities Fund V (Delaware) Holdings, L.P.

 
 By: Oaktree Power Opportunities Fund V GP, L.P.

Its: General Partner
  

By: Oaktree Power Opportunities Fund V GP, Ltd.
 Its: General
Partner
  
 By: Oaktree Capital Management, L.P.

Its: Director

		
	By:	 	 /s/ Peter Jonna

		 	Name: Peter Jonna
		 	Title: Authorized Signatory
		
	By:	 	 /s/ Robert Wu

		 	Name: Robert Wu
		 	Title: Authorized Signatory

 [Signature Page to Series A Stock Purchase Agreement] 

 
			
	 Opps TPIC Holdings, LLC
  

By: Oaktree Fund GP, LLC
 Its: Manager

 
 By: Oaktree Fund GP I, L.P.

Its: Managing Member

		
	By:	 	 /s/ Brook Hinchman

		 	Name: Brook Hinchman
		 	Title: Authorized Signatory
		
	By:	 	 /s/ Jordan Mikes

		 	Name: Jordan Mikes
		 	Title: Authorized Signatory

 [Signature Page to Series A Stock Purchase Agreement] 

 
			
	 Oaktree Phoenix Investment Fund, L.P.
  

By: Oaktree Phoenix Investment Fund GP, L.P.
 Its: General
Partner
  
 By: Oaktree Phoenix Investment Fund GP Ltd.

Its: General Partner
  

By: Oaktree Capital Management, L.P.
 Its: Director

		
	By:	 	 /s/ Pavel Kaganas

		 	Name: Pavel Kaganas
		 	Title: Authorized Signatory
		
	By:	 	 /s/ Jordan Mikes

		 	Name: Jordan Mikes
		 	Title: Authorized Signatory

 [Signature Page to Series A Stock Purchase Agreement] 

 EXHIBITS 
  

			
	Exhibit A -	  	FORM OF CERTIFICATE OF DESIGNATIONS
		
	Exhibit B -	  	SCHEDULE OF PURCHASERS
		
	Exhibit C -	  	FORM OF INVESTORS RIGHTS AGREEMENT
		
	Exhibit D -	  	FORM OF WARRANT
		
	Exhibit E -	  	DISCLOSURE SCHEDULE

 EXHIBIT A 

FORM OF CERTIFICATE OF DESIGNATIONS 

  
 A-1 

 EXHIBIT B 

SCHEDULE OF PURCHASERS 
  

									
	 Purchaser
	  	Number of Shares	 	  	Price	 
	 Oaktree Power Opportunities Fund V (Delaware) Holdings, L.P.
	  	 	131,250	 	  	$	131,250,000.00	 
	 Opps TPIC Holdings, LLC
	  	 	212,625	 	  	$	212,625,000.00	 
	 Oaktree Phoenix Investment Fund, L.P.
	  	 	6,125	 	  	$	 6,125,000.00	 
		  	  
	  
	 	  	  
	  
	 
	 Total
	  	 	350,000	 	  	$	350,000,000.00	 
		  	  
	  
	 	  	  
	  
	 

  
 B-1 

 EXHIBIT C 

FORM OF INVESTORS RIGHTS AGREEMENT 

  
 C-1 

 EXHIBIT D 

FORM OF WARRANT 

  
 D-1 

 EXHIBIT E 

DISCLOSURE SCHEDULE 

[See attached.] 

  
 E-1EX-10.2

 Exhibit 10.2 

CONFIDENTIAL 
 TPI COMPOSITES,
INC. 
 FORM OF INVESTOR RIGHTS AGREEMENT 

This INVESTOR RIGHTS AGREEMENT dated [•] (this “Agreement”) is entered into by and among TPI Composites, Inc., a
Delaware corporation (the “Company”), [•] (collectively, the “Investors”), and the Holders that from time to time after the date hereof become a party hereto by executing a joinder in the form attached as
Exhibit A hereto. 
 WHEREAS, the Investors and the Company have entered into that certain Series A Preferred Stock Purchase
Agreement, dated as of November 8, 2021, by and among the Company and the Investors (the “Purchase Agreement”); 

WHEREAS, the Company proposes to issue to the Investors warrants to purchase certain shares of Common Stock pursuant to the Warrant to
be dated of even date herewith (the “Warrant”); and 
 WHEREAS, as an inducement for the Investors to enter into the
Purchase Agreement, the Company agreed to enter into this Agreement with the Investors pursuant to which the Company shall provide the Investors with certain registration, investor and other rights, as set forth in this Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 

Defined Terms. For purposes of this Agreement, the following terms shall have the meanings set forth below: 

1.1 “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, private investment fund or registered
investment company now or hereafter existing that is controlled by one or more general partners, managing members or investment advisers of, or shares the same management company or investment adviser with, such Person; provided that neither
the Investors nor any of their Affiliates shall be considered Affiliates of the Company for purposes of this definition. 

“Aggregate Basis” means as to any calculation, such calculation made, aggregating the beneficial ownership of the Holders
that are Affiliates of each other. 
 “Automatic Shelf Registration Statement” means an “automatic shelf registration
statement” as defined in Rule 405 promulgated under the Securities Act on Form S-3ASR. 

“beneficial ownership” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act. The terms “beneficially own” and “beneficial owner” shall have correlative meanings. 

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

“Business Day” means any day, other than a Saturday, a Sunday, any other day on which commercial banks in New York, New York
are authorized or required by law to be closed. 
 “Bylaws” means the bylaws of the Company, as amended, restated or
otherwise modified from time to time. 
 “Certificate of Designations” means the Certificate of Designations setting forth
the rights, powers, preferences and privileges of the Series A Preferred Stock. 
 “Certificate of Incorporation” means the
certificate of incorporation of the Company, as it may be amended, restated or otherwise modified from time to time. 
 “Change of
Control” has the meaning ascribed to such term in the Certificate of Designations. 
 “Common Stock” means the
shares of the Company’s common stock, par value $0.01 per share. 
 “Company Market Capitalization” means (1) the
VWAP of the Common Stock multiplied by (2) the number of shares of Common Stock issued and outstanding as of the Closing Date (as defined in the Purchase Agreement). 

“Common Stock Equivalents” means any options, warrants or other securities or rights convertible into or exercisable or
exchangeable for, whether directly or following conversion into or exercise or exchange for other options, warrants or other securities or rights, shares of Common Stock. 

“Control” (including the terms “controlling” and “controlled”), with respect to the
relationship between or among two or more Persons, means the possession, directly or indirectly, of the power to direct or cause the direction of the affairs or management of such subject Person, whether through the ownership of voting securities,
as trustee or executor, by contract or otherwise. 
 “Exchange Act” means the United States Securities Exchange Act of
1934, as it may be amended from time to time, together with all the rules and regulations promulgated thereunder. 

“FINRA” means the Financial Industry Regulatory Authority or any successor agency. 

“Free Writing Prospectus” means a free-writing prospectus, as defined in Rule 405 of the Securities Act. 

“Governmental Authority” means the government of any nation, state, city, locality or other political subdivision thereof,
any entity or self-regulatory organization exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government (including FINRA and any national or regional stock exchange on which the Common Stock is
then listed or is proposed to be listed), and any corporation or other entity owned or controlled, through stock or capital ownership or otherwise, by any of the foregoing. 

  
 -2- 

 “Holders” means the holders of Registrable Securities and the term
“Holder” means any such Person. 
 “Investor Amount” means (a)(i) $350,000,000.00 plus
(ii) the amount of any additional investment by the Investors pursuant to the Purchase Agreement plus (iii) the aggregate Curative Funding Amount (accounting for any Excess Curative Funding) less (b) an amount equal to
(i) the number of shares of Series A Preferred Stock that the Company has redeemed pursuant to Section 7 of the Certificate of Designations as of the date of the applicable Offer Notice multiplied by (ii) the Original Issue
Price (as defined in the Certificate of Designations). 
 “Law” means any United States federal, state or local or foreign
law, rule, regulation, form, statute, Order or other legally enforceable requirement (including common law) issued, enacted, adopted, promulgated, implemented or otherwise put into effect by or under the authority of any Governmental Authority. 

“Listing” means, with respect to a security, the listing of such security for trading on the relevant stock exchange in
compliance with the rules and regulations of such stock exchange, which Listing may be subject to official notice of issuance. 

“NASDAQ” means the Nasdaq Global Market. 

“Order” means any judgment, decision, writ, order, injunction, award, decree or other determination of or by any Governmental
Authority. 
 “Organizational Documents” means the Certificate of Incorporation and the Bylaws. 

“Permitted Transferee” means a Person to whom a Holder of Registrable Securities transfers such Registrable Securities in
accordance with this Agreement, to the extent such Registrable Securities remain Registrable Securities following such transfer. 

“Person” means any individual, corporation, partnership, trust, limited liability company, association or other entity. 

“Pro Rata Percentage” means a fraction (expressed as a percentage), (1) the numerator of which is an amount equal to
(A) the Investor Amount plus (B) the Warrant VWAP and (2) the denominator of which is an amount equal to (A) the Company Market Capitalization plus (B) the Investor Amount plus (C) the Warrant VWAP.

 “Prospectus” means the prospectus included in any Registration Statement, all amendments and supplements to such
prospectus, including pre- and post-effective amendments to such Registration Statement, and all other material incorporated by reference in such prospectus. 

“Public Offering” means the offer for sale of securities pursuant to an effective Registration Statement filed under the
Securities Act. 

  
 -3- 

 “Registrable Securities” means (a) all Common Stock issued or issuable
upon exercise of the Warrants and (b) all other securities issued in respect of such Warrants or into which such Warrants are later converted or reclassified, in each case of clauses (a) and (b), in each case held by (i) the
Investors, (ii) any fund managed by or under common management with the Investors and (iii) any Affiliate of the foregoing, whether now owned or hereafter acquired, and their respective Permitted Transferees; provided, however, that
any such Registrable Securities shall cease to be Registrable Securities to the extent (A) a Registration Statement with respect to the sale of such Registrable Securities has been declared effective under the Securities Act and such
Registrable Securities have been disposed of in accordance with the plan of distribution set forth in such Registration Statement, (B) such Registrable Securities have been disposed of pursuant to Rule 144 or Rule 145 of the Securities Act (or
any successor rule) or such securities may be sold pursuant to Rule 144 of the Securities Act (including, for the avoidance of doubt, Rule 144) (or any similar provisions in force) without regard to volume or manner of sale limitations and represent
beneficial ownership of less than 1.0% of the outstanding Common Stock on an Aggregate Basis. 
 “Registration” means a
registration with the SEC of the offer and sale of the securities of the Company to the public under a Registration Statement. The term “Register” shall have a correlative meaning. 

“Registration Expenses” means any and all expenses incident to the Company’s performance of or compliance with
obligations under Article II to register the Registrable Securities, regardless of whether the applicable Registration Statement is declared effective, and with respect to any Underwritten Offering conducted in connection therewith,
including, but not limited to, (a) all registration and filing fees, (b) fees and expenses of compliance with securities or “blue sky” laws (including disbursements of counsel in connection with “blue sky”
qualifications of Registrable Securities), (c) expenses in connection with preparing, printing, mailing and delivering Registration Statements, prospectuses, any documents in connection therewith and any amendments or supplements to the forgoing,
(d) security engraving and printing expenses, (e) reasonable fees and expenses of any special experts retained by the Company in connection with such registration, (f) costs of printing and producing any agreements among Underwriters,
underwriting agreements, any “blue sky” or legal investment memoranda and any selling agreements and other documents in connection with the offering, sale or delivery of the Registrable Securities, (g) expenses relating to any analyst
or investor presentations or any “road shows” undertaken in connection with the registration, marketing or selling of the Registrable Securities, (h) messenger and delivery expenses, (i) fees and disbursements of custodians,
counsel for the Company, and all independent certified public accountants (including the expenses relating to any comfort letters or costs associated with the delivery by independent certified public accountants of any “comfort” letters or
any special audits incidental to or required by any registration or qualification), (j) fees and disbursements of Underwriters customarily paid by issuers of securities, including, if necessary, a “qualified independent underwriter” within
the meaning of the rules of the FINRA (in each case, excluding underwriting discounts, commissions and transfer taxes), and other Persons retained by the Company, (k) the Company’s internal expenses (including all salaries and expenses of
its officers and employees performing legal or accounting duties), (l) all out-of-pocket costs and expenses incurred by the Company or its appropriate officers in
connection with their compliance with Article II, (m) the expense of any annual audit or quarterly review, (n) the expense of any liability insurance, (o) fees and expenses in connection with any review by FINRA of the
underwriting arrangements or other 

  
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terms of the offering, (p) reasonable fees, out- of-pocket costs and out-of-pocket costs expenses of one counsel to the Holders holding Registrable Securities covered by each Registration Statement (“Holders’ Counsel”), selected pursuant to
Section 2.9, (q) transfer agents’ and registrars’ fees and expenses and the fees and expenses of any other agent or trustee appointed in connection with such offering, (r) fees and expenses payable in
connection with any ratings of the Registrable Securities, including expenses relating to any presentations to rating and (s) the expenses and fees for listing the securities on any securities exchange or automated interdealer quotation system;
provided, that Registration Expenses shall not include any underwriting discounts or commissions, or transfer taxes, if any, attributable to the sale of Registrable Securities by a Holder. 

“Registration Participant” means, with respect to any Registration, including a public sale or shelf take-down, any holder of
Registrable Securities participating as a selling stockholder in such Registration; provided, that a holder of Registrable Securities shall not be considered a Registration Participant in connection with a shelf registration unless and until
such holder of Registrable Securities participates in such shelf take-down. 
 “Registration Statement” means any
registration statement of the Company that covers the offer and sale of Registrable Securities pursuant to the provisions of this Agreement filed with, or to be filed with, the SEC under the rules and regulations promulgated under the Securities
Act, including the related Prospectus, amendments and supplements to such registration statement, including pre- and post-effective amendments, and all exhibits and all material incorporated by reference in
such registration statement. 
 “Regulatory Approval Condition” means the Investors or any of their Affiliates is required
to wait for the expiration of any waiting period under, file any notice, report or other submission with, or obtain any consent, registration, approval, permit or authorization from any Governmental Entity under any applicable Law in connection with
such transaction, including under (a) any U.S. or non-U.S. competition, merger control, antitrust or similar law, (b) any law that may be applicable to the direct or indirect ownership of equity in
the Company and its Subsidiaries or (c) any law related to the foregoing. 
 “Rule 144” means Rule 144 under the
Securities Act, as amended. 
 “S-3 Shelf Eligible” means the Company is eligible
to use Form S-3 in connection with a secondary public offering of its equity securities on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, in accordance with SEC Guidance. 

“SEC” means the Securities and Exchange Commission or any similar agency having jurisdiction to enforce the Securities Act.

 “SEC Guidance” means (a) any publicly available written or oral interpretations, questions and answers, guidance
and forms of the SEC, (b) any oral or written comments, requirements or requests of the SEC or its staff, (c) the Securities Act and the Exchange Act and (d) any other rules, bulletins, releases, manuals and regulations of the SEC.

 “Securities” means (a) with respect to the Company, shares of Common Stock, preferred stock or any other class or
series of capital stock of the Company, (b) with respect to any Subsidiary of the Company, any equity securities, (c) any warrants, options, rights or other securities exchangeable or exercisable for, or convertible into, any Securities
described in clause (a) or clause (b), and (c) any indebtedness instrument for borrowed money (including any promissory note), whether issued by the Company or any Subsidiary thereof, exchangeable or exercisable for, or convertible into,
any Securities described in clause (a) or clause (b). 

  
 -5- 

 “Securities Act” means the United States Securities Act of 1933, as it may
be amended from time to time, together with all the rules and regulations promulgated thereunder. 
 “Series A Preferred
Stock” means the preferred stock of the Company designated as “Series A Preferred Stock”. 
 “Series A Requisite
Investors” means, as of any date of determination, the holders of a majority of the then outstanding shares of Series A Preferred Stock. 

“Shelf Registration Statement” means a Registration Statement filed with the SEC on Form
S-3 for an offering to be made on a delayed or continuous basis pursuant to Rule 415 under the Securities Act (or any successor provision) covering the offer and sale of all or any portion of the Registrable
Securities, as applicable. 
 “Shelf Registered Securities” means any Registrable Securities whose offer and sale is
registered pursuant to a Registration Statement filed in connection with a Shelf Registration (including an Automatic Shelf Registration Statement). 

“Subsidiaries” means, with respect to any Person, any Affiliate controlled by such Person, directly or indirectly through one
or more intermediaries. 
 “Third Party” means any Person other than the Investors, the Holders, the Company or any of
their respective Affiliates. 
 “Trading Day” means a day on which NASDAQ is open for the transaction of business. 

“Transaction Agreements” means this Agreement, the Purchase Agreement, the Certificate of Designations, the Warrant, and any
other instruments or documents entered into in connection with herewith and therewith. 
 “Transfer” means any sale,
assignment, transfer, exchange, gift, bequest, pledge, hypothecation or other disposition or encumbrance of Securities, in each case whether direct or indirect, in whole or in part, by operation of law or otherwise, whether for value or no value and
whether voluntary or involuntary. 
 “Underwriters” means an underwriter or underwriters with respect to any Underwritten
Public Offering. 
 “Underwritten Offering” means a Public Offering in which securities of the Company are sold to
Underwriters for reoffering to the public (including any underwritten “block trade”). 
 “VWAP” means the volume
weighted average price as of the close of trading at 4:00 p.m. eastern time of the Common Stock on NASDAQ as reported by Bloomberg, L.P. for each of the ten Trading Days beginning with the first Trading Day following the
Closing Date (as defined in the Purchase Agreement). 

  
 -6- 

 “Warrant VWAP” means an amount equal to (1) the VWAP of the Common
Stock multiplied by (2) the number of shares of Common Stock issuable if the Warrant were exercised in full as of the date of determination. 

“Well-Known Seasoned Issuer” means a “well-known seasoned issuer” as defined in Rule 405 promulgated under the
Securities Act and which (a) (i) is a “well-known seasoned issuer” under paragraph (1)(i)(A) of such definition or (ii) is a “well-known seasoned issuer” under paragraph (1)(i)(B) of such definition and is also eligible
to Register a primary offering of its securities relying on General Instruction I.B.1 of Form S-3 under the Securities Act and (b) is not an “ineligible issuer” as defined in Rule 405
promulgated under the Securities Act. 
 ARTICLE II 

REGISTRATION RIGHTS 

2.1 Demand Registration Rights. 

(a) Demand Rights. Subject to the terms and conditions of this Agreement, including those in the next succeeding sentence, from and
after the date that the Company consummates the transactions contemplated by the Purchase Agreement, from time to time, at any time the Company is not in compliance with its obligations under Section 2.2 to file and
maintain the effectiveness of a Shelf Registration Statement, if the Holders of at least 25% of the Registrable Securities provide notice (a “Demand”) requesting that the Company effect the Registration (a “Demand
Registration”) under the Securities Act of any or all of the Registrable Securities, as the case may be (the “Demanding Holders”), which Demand shall specify the number of such Registrable Securities to be registered by the
Demanding Holders and the intended method or methods of disposition of such Registrable Securities, the Company shall use its commercially reasonable efforts to effect, as promptly as practicable, the registration of the offer and sale of such
Registrable Securities under the Securities Act and applicable state securities laws, under a Registration Statement on such form as may be permitted under SEC Guidance (which shall be on Form S-3 or Form S-3ASR, to the extent permitted by SEC Guidance), and to keep such Registration Statement (the “Demand Registration Statement”) effective for so long as is necessary to permit the disposition of
such Registrable Securities, in accordance with the intended method or methods of disposition stated in such Demand. At any time and from time to time after the date hereof, a Holder shall have the right to initiate up to three Demand Registration
hereunder on behalf of the Holders of Registrable Securities; provided, that in each case, (i) the gross proceeds reasonably anticipated to be generated from the offering subject to such Demand Registration (as determined in good faith
by the relevant Demanding Holders and their Underwriters) equals or exceeds $25,000,000, unless such registration shall include all of the Registrable Securities, as the case may be, then owned by such Demanding Holder, as the case may be, and
(ii) the Company shall not be required to effect more than one Demand Registration in any consecutive 120-day period; provided, however, that a Demand Registration shall not be counted for
such purposes unless the Demand Registration Statement shall have been deemed effective in accordance with Section 2.1(b). A Demand Registration Statement may be for an offering of securities on a delayed or continuous
basis under Rule 415 of the Securities Act and shall be on such appropriate form that the Company is eligible to use pursuant to SEC Guidance as shall be selected by the Company and as shall permit the intended method or methods of distribution
specified by the Demanding Holders, including a distribution to, and resale by, the partners, equityholders or Affiliates of the Demanding Holders. At the request of the Demanding Holders, the “Plan of Distribution” section of any

  
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Registration Statement filed in respect of a Demand Registration or Shelf Registration (as defined below) shall permit, in addition to firm commitment Underwritten Offerings, any other lawful
means of disposition of Registrable Securities, including agented transactions, block trades, sales directly into the market, purchases or sales by brokers, derivative transactions, short sales, stock loan or stock pledge transactions and sales not
involving a Public Offering (each, an “Alternative Transaction”). The Underwriter or Underwriters selected for any Underwritten Offering registered pursuant to a Demand shall be selected in accordance with
Section 2.7(f). Upon receipt of a Demand, the Company shall promptly give written notice of such Demand to each other Holder of Registrable Securities in the manner provided in Section 2.3, and the
Company shall, subject to Section 2.1(c), use its commercially reasonable efforts to effect the registration on a Demand Registration Statement under the Securities Act of the offer and sale of the Registrable Securities
that the Holders, whether in connection with the exercise of Demand rights pursuant to Section 2.1 or piggyback rights pursuant to Section 2.3 below, have requested the Company to register;
provided, that the Company may also include in such Demand Registration Statement securities to be sold for its own account, subject to Section 2.1(c). The rights of Holders with respect to a Demand shall be subject
to Suspension Periods, as provided in Section 2.5. The terms and conditions of any customary underwriting or purchase arrangements pursuant to which Registrable Securities shall be sold in a Demand shall be approved by the
Demanding Holders holding a majority of the Registrable Securities included in the Demand Registration Statement for the Demanding Holders. 

(b) Fulfillment of Registration Obligations. Notwithstanding any other provision of this Agreement, a Demand Registration shall not be
deemed to have been effected (i) if the Demand Registration Statement has not become effective; (ii) if, after the Demand Registration Statement has become effective, such Demand Registration is interfered with by any stop order,
injunction or other order or requirement of the SEC or other Governmental Entity for any reason and the Registrable Securities requested to be registered cannot legally be distributed pursuant to such Demand Registration Statement; (iii) if
such Demand Registration Statement does not remain effective for the period required under Section 2.7(a); (iv) in the event of an Underwritten Offering or Alternative Transaction, if the conditions to closing specified in
the relevant underwriting or other agreement entered into in connection with such Demand Registration are not satisfied or waived (other than by reasons primarily attributable to the Demanding Holders); and (v) if the Common Stock and
Registrable Securities, as the case may be, have not been approved for Listing. 
 (c) Priority. In connection with an Underwritten
Offering registered pursuant to a Demand Registration, if the managing Underwriter advises the Company that, in its view, the number of Registrable Securities requested to be included in the Underwritten Offering registered under such Demand
Registration (including any securities that the Company proposes to be included that are not Registrable Securities) exceeds the largest number of securities that can be sold without having a material and adverse effect on such offering, including
the price at which such securities can be sold (with respect to any such offering, the “Maximum Offering Size”), the Company shall include in such offering the following securities, in the priority listed below, up to the Maximum
Offering Size: 
 (i) first, Registrable Securities that are requested to be included in such offering pursuant to
Section 2.1, on a pro rata basis based on the requesting Holders’ beneficial ownership of Registrable Securities; 

  
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 (ii) second, any other securities that are requested to be included
in such offering pursuant to the exercise of piggyback rights by any persons with rights to participate therein; and 
 (iii)
third, all shares of Common Stock that are requested to be included in such offering by the Company for its own account. 
 2.2
Shelf Registration Statements. 
 (a) Initial Shelf Registration. Provided (i) the Company is S-3 Shelf Eligible and (ii) a Shelf Registration on a Form S-3 registering Registrable Securities for resale is not then effective (subject to any applicable Suspension
Period), the Company shall use its reasonable best efforts to file and make effective as soon as reasonably practicable, and in any case no earlier than 30 days following the date hereof, a Registration Statement on Form S-3 for an offering on a delayed or continuous basis pursuant to Rule 415 promulgated under the Securities Act (a “Shelf Registration”), with respect to all of the Registrable Securities. The
Company shall promptly give notice at least 10 Business Days prior to the anticipated filing date of such Shelf Registration to all Holders of Registrable Securities, and offer such Holders the opportunity to register the number of Registrable
Securities as each such Holder may request by written notice to the Company, given within five Business Days after such Holders are given the Company’s notice of the Shelf Registration. The “Plan of Distribution” section of such Shelf
Registration shall permit, in addition to firm commitment Underwritten Offerings, any other lawful means of disposition of Registrable Securities, including Alternative Transactions. With respect to each Shelf Registration, the Company shall use its
reasonable best efforts to cause such Registration Statement to remain effective until the date set forth in Section 2.7(a)(ii). No Holder shall be entitled to include any of its Registrable Securities in a Shelf
Registration unless such Holder has complied with Section 2.8. The obligations set forth in this Section 2.2(a) shall not apply if the Company has a currently effective Automatic Shelf Registration
Statement covering all Registrable Securities in accordance with Section 2.7(f) and has otherwise complied with its obligations pursuant to this Article II. The rights of Holders with respect to any Shelf
Registration shall be subject to Suspension Periods, as provided in Section 2.5. 
 (b) Shelf Take-Downs. A
Holder of Shelf Registered Securities may sell pursuant to the Shelf Registration Statement from time to time in accordance with the plan of distribution set forth in the Shelf Registration Statement. A Holder or Holders of Shelf Registered
Securities may also request (the “Shelf Public Offering Request”) that a shelf take-down be in the form of an Underwritten Offering (a “Shelf Public Offering”) if the gross proceeds reasonably anticipated to be
generated from the sale of the Shelf Registered Securities (as determined in good faith by the relevant Holders and their Underwriters) equals or exceeds $15,000,000. Promptly upon receipt of a Shelf Public Offering Request, the Company shall
provide notice (the “Shelf Public Offering Notice”) of such proposed Underwritten Offering (which notice shall state the material terms of such proposed Underwritten Offering, to the extent known, as well as the identity of the
Shelf Public Offering Requesting Holder) to the other Holders holding Shelf Registered Securities. Such other Holders may, by written request to the Company and the Shelf Public Offering, within five Business Days after receipt of such Shelf Public
Offering Notice, offer and sell up to all of their Shelf Registered Securities of the same class or series as the Shelf Registered Securities proposed to be sold in such Underwritten Offering. No Holder shall be entitled to include any of its
Registrable Securities in a Shelf Public Offering unless such Holder has complied with Section 2.8. The Underwriter or Underwriters selected for such Underwritten Offering shall be selected in accordance with
Section 2.7(f). The terms and conditions of any customary underwriting or purchase arrangements pursuant to which Registrable Securities shall be sold in a Shelf Public Offering shall be approved by the Shelf Public
Offering Requesting Holder. 

  
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 (c) Priority. In a Shelf Public Offering, if the managing Underwriter advises the
Company and the Shelf Public Offering Requesting Holder that, in its view, the number of Registrable Securities requested to be included in such Shelf Public Offering (including any securities that the Company proposes to be included that are not
Registrable Securities) exceeds the Maximum Offering Size, the Company shall include in such Shelf Public Offering the following securities, in the priority listed below, up to the Maximum Offering Size: 

(i) first, Shelf Registrable Securities that are requested to be included in such Shelf Public Offering, on a pro rata
basis on the basis of the Holders’ of Shelf Registrable Securities beneficial ownership of the Common Stock; and 
 (ii)
second, all securities that are registered on the applicable Shelf Registration Statement and are requested to be included in such Shelf Public Offering by the Company. 

(d) Subsequent Shelf Registration. After the Registration Statement with respect to a Shelf Registration is declared effective, upon
written request by one or more Holders (which written request shall specify the amount of such Holders’ Registrable Securities to be registered), the Company shall, as permitted by SEC Guidance, (i) as promptly as practicable after
receiving a request from a Holder that is a Permitted Transferee of a former Holder of Shelf Registrable Securities, file a prospectus supplement to include such Permitted Transferee as a selling stockholder in such Registration Statement,
(ii) if it is a Well-Known Seasoned Issuer and such Registration Statement is an unallocated Automatic Shelf Registration Statement to which additional selling stockholders may be added by means of a prospectus supplement under Rule 430B, as
promptly as practicable after receiving such request, file a prospectus supplement to include such Holders as selling stockholders in such Registration Statement, or (iii) otherwise, as promptly as practicable after the date the Registrable
Securities requested to be registered pursuant to this Section 2.2(e) that have not already been so registered represent more than 1.5% of the outstanding Registrable Securities, file a post-effective amendment to the
Registration Statement or a new Shelf Registration Statement, as applicable, to include such Holders in such Shelf Registration and use its commercially reasonable efforts to have such post-effective amendment or new Shelf Registration Statement
declared effective. To the extent that any Registration Statement with respect to a Shelf Registration is expected to no longer be usable for the resale of Registrable Securities registered thereon (“Remaining Registrable
Securities”) pursuant to SEC Guidance, the Company shall, not later than 90 days prior to the date such Registration Statement is expected to no longer be usable, use its commercially reasonable efforts to prepare and file a new
Registration Statement with respect to such Shelf Registration, as if the holders of such Remaining Registrable Securities had requested a Shelf Registration with respect thereto pursuant to Section 2.2(a) and perform all
actions required under this Agreement with respect to such Shelf Registration. 
 (e) Automatic Shelf Registration Statements. As long
as the Company remains a Well-Known Seasoned Issuer eligible to use an Automatic Shelf Registration Statement in accordance with SEC Guidance, upon the request of the Holders of at least 25% of the Shelf Registrable Securities registered on such
Shelf Registration Statement, the Company shall, as promptly as practicable, register such Shelf Registrable Securities under an Automatic 

  
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Shelf Registration Statement, but in no event later than 15 Business Days thereafter, and to use commercially reasonable efforts to cause such Automatic Shelf Registration Statement to remain
effective thereafter until the date set forth in Section 2.7(a)(ii). At any time after the filing of an Automatic Shelf Registration Statement by the Company, if it is reasonably likely that it shall no longer be a
Well-Known Seasoned Issuer as of a future determination date (the “Determination Date”), as promptly as practicable and at least 30 days prior to such Determination Date, the Company shall (i) give written notice thereof to all
of the Holders and (ii) if the Company is S-3 Shelf Eligible, file a Registration Statement on Form S-3 with respect to a Shelf Registration in accordance with
Section 2.2(a) and use its commercially reasonable efforts to have such Registration Statement declared effective prior to the Determination Date. If the Company has filed an existing Automatic Shelf Registration Statement
that is effective, and it is likely that such existing Automatic Shelf Registration Statement shall no longer be effective pursuant to SEC Guidance as of a Determination Date, although the Company shall remain a Well- Known Seasoned Issuer as of
such Determination Date, the Company shall use commercially reasonable efforts to file a new Automatic Shelf Registration Statement to replace such existing Automatic Shelf Registration Statement prior to such Determination Date and cause such
Automatic Shelf Registration Statement to remain effective thereafter until the date set forth in Section 2.7(a)(ii). 

2.3 Piggyback Registration Rights. 

(a) At any time the Company proposes to file a Registration Statement to register Common Stock under the Securities Act (other than pursuant to
Sections 2.1 or 2.2), or to conduct an Underwritten Offering from an existing Shelf Registration Statement, whether or not for its own account (other than pursuant to a Registration Statement on Form
S-4 or Form S-8 or any similar or successor form under the Securities Act) or for the account of any person (other than a Holder pursuant to Sections 2.1 or
2.2), the Company shall give written notice thereof to each Holder at least 10 Business Days before such filing or the commencement of such Underwritten Offering, as applicable, offering each Holder the opportunity to register on such
Registration Statement or including in such Underwritten Offering, as applicable, such number of Registrable Securities as such Holder may request in writing not later than five Business Days after receiving such notice in writing from the Company
(a “Piggyback Registration”). Upon receipt by the Company of any such request, the Company shall use its commercially reasonable efforts to, or in the case of an Underwritten Offering, use its commercially reasonable efforts to
cause the Underwriters to, include such Registrable Securities in such Registration Statement (or in a separate Registration Statement concurrently filed) and to cause such Registration Statement to become effective with respect to such Registrable
Securities. If no request for inclusion from a Holder is received by the Company within the deadlines specified above, such Holder shall have no further right to participate in such Piggyback Registration. Notwithstanding the foregoing, if at any
time after giving written notice of a registration in accordance with the first sentence of this paragraph (a) and before the effectiveness of the Registration Statement described in such notice, the Company determines for any reason either not
to effect such registration or to delay such registration, the Company may, at its election, by delivery of written notice to each Holder exercising its rights to Piggyback Registration, (i) in the case of a determination not to effect
registration, relieve itself of its obligation to effect a Piggyback Registration of the Registrable Securities in connection with such registration or (ii) in the case of a determination to delay registration, delay the Piggyback Registration
of such Registrable Securities of the Holders for the same period as the delay in the registration of such other Registrable Securities; provided, that in the case of any such termination, withdrawal or delay, all expenses incurred in
connection with such Piggyback Registration shall be borne entirely by 

  
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the Company as set forth in Section 2.9. If any Holder requests inclusion in a registration pursuant to this Section 2.3, which Holder may, at
any time before the effective date of the Registration Statement relating to such registration, revoke such request by delivering written notice of such revocation to the Company; provided, however, that if the Company, in consultation with
its financial and legal advisors, determines that such revocation would materially delay the registration or otherwise require a recirculation of the prospectus contained in the Registration Statement, then such Holder shall have no right to so
revoke his, her, or its request. The Company shall keep the Holder reasonably informed as to the status or expected timing of the launch of any Public Offering registered pursuant to any such Piggyback Registration. No registration of Registrable
Securities effected under this Section 2.3 shall relieve the Company of its obligations to effect any Demand Registration pursuant to Section 2.1 or Shelf Registration pursuant to
Section 2.2. The rights of Holders with respect to a Piggyback Registration shall be subject to Suspension Periods, as provided in Section 2.5. To the extent an Underwritten Offering is made under
any such Registration Statement, all Holders exercising their right to Piggyback Registration must sell their Registrable Securities to the Underwriters selected as provided in Section 2.7(f) on the same terms and
conditions as apply to the other securityholders selling in such Underwritten Offering. 
 (b) If a Piggyback Registration involves an
Underwritten Offering (other than any Demand Registration, in which case the provisions with respect to priority of inclusion in such offering set forth in Section 2.1(c) shall apply or a Shelf Public Offering, in which
case the provisions with respect to priority of inclusion in such offering set forth in Section 2.2(c) shall apply) and the managing Underwriter advises the Company that, in its view, the number of Registrable Securities
that the Holders and the Common Stock that the Company intend to include in such Underwritten Offering exceeds the Maximum Offering Size, the Company shall include in such Underwritten Offering the following securities, in the following priority, up
to the Maximum Offering Size: 
 (i) first, all Common Stock that is requested to be included by the Company in the
Underwritten Offering for its own account; 
 (ii) second, Registrable Securities that are requested to be included in
the Underwritten Offering pursuant to this Section 2.3 by any Holder on a pro rata basis on the basis of the requesting Holders’ beneficial ownership of the Common Stock; and 

(iii) third, all other securities that are requested to be included in the Underwritten Offering for the account of any
other Persons with such priorities among them as the Company shall determine. 
 2.4 Underwritten Offering. Notwithstanding anything
herein to the contrary, no Holder may participate in any Underwritten Offering hereunder unless such Holder completes and executes in a timely manner all questionnaires, powers of attorney, indemnities, custody agreements, underwriting agreements
(as approved in accordance with the terms of this Agreement), and other documents reasonably requested under the terms of such underwriting arrangements; provided, that all Persons participating in such Underwritten Offering shall be required
to complete and execute, on the same terms and conditions, such questionnaires, powers of attorney, indemnities, custody agreements, underwriting agreements, and other documents (if applicable). The right of a Holder to register and sell Registrable
Securities in 

  
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an Underwritten Offering shall also be subject to any restrictions, limitations or prohibitions on the sale of Registrable Securities (subject to the limitations in
Section 2.6) as may be required by the Underwriters in the interests of the offering (and, without limiting the foregoing, each Holder shall in connection therewith agree to be bound by (and if requested, execute and
deliver) a lock-up agreement with the Underwriter(s) of any such Underwritten Offering as provided in Section 2.6). 

2.5 Suspension. Notwithstanding anything to the contrary contained in this Article II, but subject to the limitations set forth
in this Section 2.5, the Company shall be entitled to suspend its obligation to (a) file or submit (but not to prepare) any Registration Statement in connection with any Demand Registration or Shelf Registration,
(b) file or submit any amendment to such a Registration Statement, (c) file, submit or furnish any supplement or amendment to a prospectus included in such a Registration Statement, (d) make any other filing with the SEC,
(e) cause such a Registration Statement or other filing with the SEC to become or remain effective or (f) take any similar actions or actions related thereto (including entering into agreements and actions related to the marketing of
securities) (collectively, “Registration Actions”) (A) upon (i) the issuance by the SEC of a stop order suspending the effectiveness of any such Registration Statement or the initiation of proceedings with respect to such a
Registration Statement under Section 8(d) or 8(e) of the Securities Act, (ii) the Board of Directors’ determination, in its good faith judgment, that any such Registration Action should not be taken because it would reasonably be
expected to materially interfere with or require the public disclosure of any material corporate development or plan, including any material financing, securities offering, acquisition, disposition, corporate reorganization or merger or other
transaction involving the Company or any of its Subsidiaries, (iii) the Company possessing material non-public information the disclosure of which the Board of Directors determines, in its good faith
judgment, would reasonably be expected to not be in the best interests of the Company or (B) to the extent necessary to ensure compliance with the Company’s insider trading policy. Upon the occurrence of any of the conditions described in
clause (i), (ii) or (iii) above in connection with undertaking a Registration Action, the Company shall give prompt notice of such suspension (and whether such action is being taken pursuant to clause (i), (ii) or (iii) above) (a
“Suspension Notice”) to the Holders. Upon the termination of such condition, the Company shall give prompt notice thereof to the Holders and shall promptly proceed with all Registration Actions that were suspended pursuant to this
paragraph. The Company may only suspend Registration Actions pursuant to clause (ii) or (iii) above on two occasions during any period of 12 consecutive months for a reasonable time specified in the Suspension Notice but not exceeding an
aggregate of 90 days (which period may not be extended or renewed) during such 12 consecutive month period (each such occasion, a “Suspension Period”). Each Suspension Period shall be deemed to begin on the date the relevant
Suspension Notice is given to the Holders and shall be deemed to end on the earlier to occur of (1) the date on which the Company gives the Holders a notice that the Suspension Period has terminated and (2) the date on which the number of
days during which a Suspension Period has been in effect exceeds the 90-day limit during such 12 consecutive month period. If the filing of any Demand Registration or Shelf Registration is suspended pursuant
to this Section 2.5, once the Suspension Period ends the Holders requesting such registration may request a new Demand Registration or Shelf Registration (and any such request for a Demand Registration shall not be counted
as an additional Demand Registration for purposes of Section 2.1(a)). Notwithstanding anything to the contrary in this Article II, the Company shall not be in breach of, or have failed to comply with, any obligation
under this Article II where the Company acts or omits to take any action in order to comply with applicable Law, any SEC 

  
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Guidance or any Order. Each Holder shall keep confidential the fact that a Suspension Period is in effect unless otherwise notified by the Company, except (a) for disclosure to the
Registration Participants or Holders, as applicable, and their employees, agents and professional advisers who reasonably need to know such information for purposes of assisting such Registration Participants or Holders with respect to its
investment in the Common Stock and agree to keep it confidential, (b) for disclosures to the extent required in order to comply with reporting obligations to its limited partners or other direct or indirect investors who are subject to
confidentiality arrangements with such Holder, (c) if and to the extent such matters are publicly disclosed by the Company or any of its Subsidiaries or any other Person that, to the actual knowledge of such Holder, was not subject to an
obligation or duty of confidentiality to the Company and its Subsidiaries, (d) as required by applicable Law (provided, that the Holder gives prior written notice to the Company of such requirement and the contents of the proposed
disclosure to the extent it is permitted to do so under applicable Law), and (e) for disclosure to any other Holder who is subject to the foregoing confidentiality requirement. 

2.6 Lockup Agreements. 

(a) Each Holder owning Registrable Securities representing beneficial ownership of 1% or more of the outstanding Common Stock hereby agrees
that, in connection with an Underwritten Offering, except for sales in such Underwritten Offering: 
 (i) it shall not effect
any public sale or distribution (including sales pursuant to Rule 144 and pursuant to derivative transactions) of Common Stock (1) in connection with an Underwritten Offering that is being made pursuant to a Demand Registration Statement, a
Shelf Registration Statement or a Piggyback Registration, in each case in accordance with this Article II, during (A) the period commencing on the seventh day prior to the expected time of circulation of a preliminary prospectus with
respect to such Underwritten Offering (or, if no preliminary prospectus is circulated, the commencement of any marketing efforts with respect to such Underwritten Offering) and ending on the 90th day following the date of the final prospectus
covering such Registrable Securities in connection with such Underwritten Offering or (B) such shorter period as the Underwriters with respect to such Underwritten Offering may require; provided, that the duration of the restrictions
described in this clause (i) shall be no longer than the duration of the shortest restriction generally imposed by the Underwriters on the chief executive officer and the chief financial officer of the Company (or Persons in substantially
equivalent positions) in connection with such Underwritten Offering; and 
 (ii) it shall execute a lock-up agreement in favor of the Underwriters in form and substance reasonably acceptable to the Company and the Underwriters to such effect. 

(b) In connection with an Underwritten Offering, except for sales in such Underwritten Offering, the Company (and its directors and officers)
agrees that it: 
 (i) shall not effect any public sale or distribution of Common Stock or securities convertible into or
exercisable for Common Stock (except pursuant to (a) registrations on Form S-8 or Form S-4 or any similar or successor form under the Securities Act or (b) a
trading plan pursuant to Rule 10b5-1 under the Exchange Act) during (1) the period commencing on the seventh day prior to the expected time of 

  
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circulation of a preliminary prospectus with respect to such Underwritten Offering (or, if no preliminary prospectus is circulated, the commencement of any marketing efforts with respect to such
Underwritten Offering) and ending on the 90th day following the date of the final prospectus covering such Registrable Securities in connection with such Underwritten Offering or (2) such shorter period as the Underwriters with respect to such
Underwritten Offering may require; and 
 (ii) to the extent requested by the Underwriters participating in such Underwritten
Offering, it shall agree to include provisions in the relevant underwriting or other similar agreement giving effect to the restrictions described in clause (i) above, in form and substance reasonably acceptable to such Underwriters. 

2.7 Registration Procedures. Whenever the Holders of Registrable Securities have requested that any Registrable Securities be registered
pursuant to this Agreement, subject to Section 2.5, the Company shall use its commercially reasonable efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method of
disposition thereof as soon as reasonably practicable, and, in connection with any such request: 
 (a) The Company shall, as soon as
practicable, prepare and file with the SEC a Registration Statement on the form required by this Article II under which such Registration Statement is required to be filed, which form shall be available, pursuant to SEC Guidance, for the sale
of the Registrable Securities to be registered thereunder in accordance with the intended method of distribution thereof, and use its commercially reasonable efforts to cause such filed Registration Statement to become and remain effective, to the
extent permitted by SEC Guidance, for a period of (i) not less than 180 days (or, if sooner, until all Registrable Securities have been sold under such Registration Statement), which duration shall not count any Suspension Period, or
(ii) in the case of a Shelf Registration, until the earlier of the date (1) on which all of the securities covered by such Shelf Registration are no longer Registrable Securities and (2) on which the Company cannot extend the
effectiveness of such Shelf Registration because it is no longer S-3 Shelf Eligible. 
 (b) Prior to
filing a Registration Statement or related prospectus or any amendment or supplement thereto (including any documents incorporated by reference therein), or before using any Free Writing Prospectus, the Company shall provide to each Holder, the
Holders’ Counsel and each Underwriter, if any, with an adequate and appropriate opportunity to review and comment on such Registration Statement, each Prospectus included therein (and each amendment or supplement thereto) and each Free Writing
Prospectus proposed to be filed with the SEC, and thereafter the Company shall furnish to such Holder, the Holders’ Counsel and Underwriter, if any, such number of copies of such Registration Statement, each amendment and supplement thereto
filed with the SEC (in each case including all exhibits thereto and documents incorporated by reference therein), the prospectus included in such Registration Statement (including each preliminary prospectus and any summary prospectus) and any other
prospectus filed under Rule 424, Rule 430A, Rule 430B or Rule 430C under the Securities Act and such other documents as such Holder or Underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities owned by
such Holder; provided, however, that in no event shall the Company be required to provide to any Person any materials, information or document required to be filed by the Company pursuant to the Exchange Act prior to its filing other than in
connection with a Public Offering (other than as provided in the Agreement of which this Article II forms a part). In addition, the Company shall, as expeditiously as practicable, keep the Holders advised in writing as to the initiation and
progress of any 

  
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registration under Sections 2.1, 2.2 or 2.3 and provide each Holder with copies of all correspondence (including any comment letter) with the SEC or any other Governmental
Authority in connection with any such Registration Statement. Each Holder shall have the right to request that the Company modify any information contained in such Registration Statement, amendment and supplement thereto pertaining to such Holder,
and the Company shall use its commercially reasonable efforts to comply with such request; provided, however, that the Company shall not have any obligation so to modify any information if such modification the Company reasonably expects that
so doing would cause the relevant document to contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading. 

(c) After the filing of the Registration Statement, the Company shall (i) cause the related prospectus to be supplemented by any required
prospectus supplement, and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act, (ii) comply with the provisions of the Securities Act and other SEC Guidance applicable to the Company with respect to the disposition of
all Registrable Securities covered by such Registration Statement during the applicable period in accordance with the intended methods of disposition by the Holder thereof set forth in such Registration Statement or supplement to such prospectus and
(iii) promptly notify each Holder holding Registrable Securities covered by such Registration Statement and the Holders’ Counsel any stop order issued or threatened by the SEC or any state securities commission with respect thereto and
take all reasonable actions required to prevent the entry of such stop order or to remove it if entered. 
 (d) The Company shall use its
commercially reasonable efforts to (i) register or qualify the Registrable Securities covered by such Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States as any Holder holding
such Registrable Securities reasonably (in light of such Holder’s intended plan of distribution) requests, and continue such registration or qualification in effect in such jurisdiction for the shortest of (1) as long as permissible
pursuant to the Laws of such jurisdiction, (2) as long as any such Holder requests or (3) until all such Registrable Securities are sold and (ii) cause such Registrable Securities to be registered with or approved by such other
Governmental Authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be reasonably necessary or advisable to enable such Holder to consummate the disposition of the
Registrable Securities owned by such Holder; provided, that the Company shall not be required to (1) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this
Section 2.7(d), (2) subject itself to taxation in any such jurisdiction or (3) consent to general service of process in any such jurisdiction. 

(e) The Company shall as promptly as practicable notify each Holder holding such Registrable Securities covered by such Registration Statement
(i) at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon the discovery that, or upon the occurrence of an event as a result of which, the preparation of a supplement or amendment to such
prospectus is required so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state any material fact necessary in order to make the
statements in light of the circumstances under which they were made not misleading and the Company shall promptly prepare and make available to each Holder and file with the SEC any such supplement or amendment, (ii) if the Company becomes
aware of any request by the SEC or any other 

  
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Governmental Authority for amendments or supplements to a Registration Statement or related prospectus covering Registrable Securities or for additional information relating thereto,
(iii) if the Company becomes aware of the issuance or threatened issuance by the SEC of any stop order suspending or threatening to suspend the effectiveness of a Registration Statement covering the Registrable Securities or of the receipt by
the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose. 

(f) (i) The Holders holding a majority of the Registrable Securities to be included in a Demand Registration or intended to be sold pursuant to
a Shelf Public Offering pursuant to a “take down” under a Shelf Registration, but not, for the avoidance of doubt, a Piggyback Registration, shall have the right to select Underwriters in connection with any Underwritten Offering resulting
from the exercise of a Demand Registration or a Shelf Registration (which Underwriters may include any Affiliate of any Holder so long as including such Affiliate would not require that the separate engagement of a qualified independent underwriter
with respect to such offering), subject to the Company’s approval (which shall not be unreasonably withheld, conditioned or delayed) and (ii) the Company shall select Underwriters in connection with any other Underwritten Offering. In
connection with any Underwritten Offering, the Company shall enter into customary agreements (including an underwriting agreement in customary form) and take all other actions as are reasonably required in order to expedite or facilitate the
disposition of such Registrable Securities in any such Underwritten Offering, including, if required, the engagement of a “qualified independent underwriter” in connection with the qualification of the underwriting arrangements with FINRA.

 (g) Subject to confidentiality arrangements or agreements in form and substance reasonably satisfactory to the Board of Directors, the
Company shall make available for inspection (upon reasonable notice and during normal business hours) by any Holder and any Underwriter participating in any disposition pursuant to a Registration Statement being filed by the Company pursuant to this
Section 2.7 and any attorney, accountant or other professional retained by any such Holder or Underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and
properties of the Company (collectively, the “Records”) as shall be reasonably necessary or desirable to enable them to exercise their due diligence responsibility, and cause the officers and the employees of the Company to supply
all information reasonably requested by any Inspectors in connection with such Registration Statement. Records that the Company determines, in good faith, to be confidential and that it notifies the Inspectors are confidential shall not be disclosed
by the Inspectors unless (i) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in such Registration Statement, (ii) the release of such Records is ordered pursuant to a subpoena or other order from
a court of competent jurisdiction, (iii) disclosure of such Records is necessary to comply with SEC Guidance, Law or legal or administrative process, (iv) the information in such Records was known to the Inspectors on a non-confidential basis prior to its disclosure by the Company or has been made generally available to the public other than as a result of a violation of this Section 2.7(g) or any other
agreement or duty of confidentiality, (v) the information in such Records is or becomes available to the public other than as a result of disclosure by any Inspector in violation the confidentiality agreements or, (vi) the information in
such Records is or was independently developed by any Inspector without the benefit of the information in such Records. Each Holder agrees that information obtained by it as a result of such inspections shall be deemed confidential and shall not be
used by it or its Affiliates for any other purpose, including as the basis for any market transactions in any securities of the Company, unless and 

  
 -17- 

 
until such information is made generally available to the public. Each Holder further agrees that, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, it
shall, to the extent permitted by applicable Law, give notice to the Company and allow the Company, at its expense, to undertake appropriate action to prevent disclosure of the Records deemed confidential. 

(h) The Company shall furnish to each Holder, and to each Underwriter, if any, a signed counterpart, addressed to such Underwriter, of
(i) an opinion or opinions of counsel to the Company and (ii) a comfort letter or comfort letters from the Company’s independent public accountants, each in customary form and covering such matters of the kind customarily covered by
opinions or comfort letters, as the case may be, the managing Underwriter therefor reasonably requests. 
 (i) The Company shall otherwise
comply with all applicable SEC Guidance and make available to its security holders, as soon as reasonably practicable, an earnings statement or such other document that shall satisfy the provisions of Section 11(a) of the Securities Act and the
requirements of Rule 158 thereunder. 
 (j) The Company may require each Holder promptly to furnish in writing to the Company such
information regarding the distribution of the Registrable Securities as the Company may from time to time reasonably request and such other information as may be reasonably required in connection with such registration. 

(k) Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in
Section 2.7(e), such Holder shall forthwith discontinue disposition of Registrable Securities pursuant to the Registration Statement (including any Shelf Registration) covering such Registrable Securities until such
Holder’s receipt of (i) copies of the supplemented or amended prospectus from the Company or (ii) further notice from the Company that distribution can proceed without an amended or supplemented prospectus, and, in the circumstances
described in clause (i) above, if so directed by the Company, such Holder shall deliver to the Company (or otherwise destroy and promptly certify in writing to such destruction) all copies, other than any file copies then in such Holder’s
possession, of the most recent prospectus covering such Registrable Securities at the time of receipt of such notice. If the Company shall give such notice, the Company shall extend the period during which such registration statement shall be
maintained effective (including the period referred to in Section 2.7(a)) by the number of days during the period from and including the date of the giving of notice pursuant to Section 2.7(e) to
the date when the Company shall (1) make available to such Holder a prospectus supplemented or amended to conform with the requirements of Section 2.7(e) or (2) deliver to such Holder the notice described in
clause (ii) above. 
 (l) The Company shall use its commercially reasonable efforts to maintain the listing of all Registrable
Securities of any class or series covered by such Registration Statement on NASDAQ or another U.S. national securities exchange. 
 (m) The
Company shall have appropriate officers (i) upon reasonable request and at reasonable times prepare and make presentations at any “road shows” in connection with Underwritten Offerings and (ii) otherwise use their commercially
reasonable efforts to cooperate as requested by the Underwriters in the offering, marketing or selling of the Registrable Securities. 

  
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 (n) The Company shall as soon as possible following its actual knowledge thereof, notify
each Holder: (i) of any request by the SEC or any other Governmental Authority for amendments or supplements to a Registration Statement, a related prospectus (including a Free Writing Prospectus) or for any other additional information; or
(ii) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any
proceedings for such purpose. 
 (o) The Company shall reasonably cooperate with each Holder and each Underwriter participating in the
disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made by FINRA. 
 (p)
The Company shall take all other steps reasonably necessary to effect the registration of such Registrable Securities and reasonably cooperate with the holders of such Registrable Securities to facilitate the disposition of such Registrable
Securities. 
 (q) The Company shall, within the deadlines specified by SEC Guidance, make all required filings of all prospectuses
(including any Free Writing Prospectus) with the SEC and make all required filing fee payments in respect of any Registration Statement or related prospectus used under this Article II (and any offering covered hereby). 

(r) The Company shall, if such registration is pursuant to a Registration Statement on Form S-3 or any
similar short-form registration, include in such Registration Statement such additional information for marketing purposes as the Underwriters reasonably request (which information may be provided by means of a prospectus supplement if permitted by
SEC Guidance). 
 2.8 Holder Obligations. 

(a) If Registrable Securities owned by any Holder are included in a Demand Registration Statement, a Shelf Registration Statement or a
Piggyback Registration, such Holder shall furnish promptly to the Company such information regarding itself and the distribution of such Registrable Securities by such Holder as is required under SEC Guidance or as the Company may otherwise from
time to time reasonably request in writing. 
 (b) Each Holder that has requested inclusion of its Registrable Securities in any Registration
Statement shall (i) furnish to the Company (as a condition precedent to such Holder’s participation in such registration) in writing such information with respect to such Holder, its ownership of Common Stock and the intended method of
disposition of its Registrable Securities as the Company may reasonably request or as may be required by SEC Guidance for use in connection with any related Registration Statement or prospectus (or amendment or supplement thereto) and any Free
Writing Prospectus related thereto and all information required to be disclosed in order to make the information previously furnished to the Company by such Holder not cause such Registration Statement, prospectus or Free Writing Prospectus
(A) to fail to comply with SEC Guidance or (B) contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading and
(ii) comply with SEC Guidance and all applicable state securities laws and comply with all applicable regulations in connection with the registration and the disposition of Registrable Securities. 

  
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 (c) Each Holder shall, as promptly as practicable, to the extent it is a Registration
Participant in a Registration Statement, following its actual knowledge thereof, notify the Company of the occurrence of any event that would reasonably be expected to cause a Registration Statement or prospectus in which its Registrable Securities
or any related Free Writing Prospectus are included, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading. 

(d) Each Holder shall use commercially reasonable efforts to cooperate with the Company in preparing the applicable Registration Statement to
the extent it is a Registration Participant and any related prospectus or Free Writing Prospectus. 
 (e) Each Holder agrees that no Holder
shall be entitled to sell any Registrable Securities pursuant to a Registration Statement or to receive a prospectus relating thereto unless such Holder has complied with its obligations under this Article II. 

2.9 Registration Expenses. In connection with the Company performing its obligations under this Article II, the Registration
Expenses of all Registrations shall be borne by the Company, regardless of whether the Registration Statement becomes effective or such offering or other transaction is completed. 

2.10 Indemnification. 
 (a)
The Company agrees to indemnify, to the fullest extent permitted by law, each Holder holding Registrable Securities covered by a Registration Statement, its Affiliates, stockholders, employees, agents, officers, partners, members, and directors, and
each Person who controls such Holder (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) (collectively the “Holder Parties”), for whom Registrable Securities are to be registered
pursuant to this Article II against all losses, claims, damages, liabilities, and expenses (including reasonable expenses of investigation and reasonable attorneys’, accountants’ and experts’ fees and expenses)
(“Damages”) caused by or relating to (i) any untrue or alleged untrue statement of material fact contained in any Registration Statement, prospectus or preliminary prospectus or any amendment thereof or supplement thereto, or
any documents incorporated by reference therein, or any Free Writing Prospectus utilized in connection therewith; (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein
not misleading; or (iii) any untrue statement or alleged untrue statement of a material fact in the information conveyed to any purchaser at the time of the sale to such purchaser, or the omission or alleged omission to state therein a material
fact required to be stated therein, and shall reimburse each such Holder Party for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such Damages or in related actions or proceedings, except,
in each case, insofar as the same are caused by or contained in any information regarding such holder furnished in writing to the Company by such holder expressly for use therein. The Company also agrees to indemnify and hold harmless any
Underwriters of the Registrable Securities (including any Holders who is deemed to be an Underwriter within the meaning of Section 2(a)(11) of the Securities Act), their respective officers and directors and each Person who controls any
Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act on substantially the same basis as that of the indemnification of the Holders provided in this Section 2.10.

  
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 (b) In connection with any Registration Statement in which a Holder for whom Registrable
Securities are to be registered pursuant to this Article II is participating, each such Holder shall, to the fullest extent permitted by law, indemnify (i) the Company, (ii) each Person, if any, who controls the Company within the
meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, (iii) each other Holder participating in any offering of Registrable Securities and (iv) the respective partners, Affiliates, stockholders,
members, officers, directors, employees and agents of each of the Persons specified in clauses (i) through (iv), from and against all Damages to the same extent as the foregoing indemnity from the Company resulting from or relating to
(1) any untrue or alleged untrue statement of material fact contained in the Registration Statement, prospectus, or preliminary prospectus or any amendment thereof or supplement thereto or any Free Writing Prospectus utilized in connection
therewith; (2) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading; or (3) any untrue statement or alleged untrue statement of a material fact in the
information conveyed to any purchaser at the time of the sale to such purchaser, or the omission or alleged omission to state therein a material fact required to be stated therein, but only to the extent, in each such case, that such untrue
statement or alleged untrue statement or omission or alleged omission is contained in any information or affidavit regarding such holder so furnished in writing by such Holder expressly for use therein; provided, that the obligation to
indemnify shall be individual, not joint and several, for each Holder and shall be limited to the net amount of proceeds received by such Holder from the sale of Registrable Securities pursuant to such Registration Statement. As a condition to
including Registrable Securities in any Registration Statement filed in accordance with this Article II, the Company may require that it shall have received an undertaking reasonably satisfactory to it from any Underwriter to indemnify and
hold it harmless to the extent customarily provided by Underwriters with respect to similar securities and offerings. No Holder shall be liable under this Section 2.10 for any Damages in excess of the net proceeds realized
by such Holder in the sale of Registrable Securities of such Holder to which such Damages relate. 
 (c) If any proceeding (including any
investigation by any Governmental Authority) shall be instituted involving any Person in respect of which indemnity may be sought pursuant to Section 2.10(a) or 2.10(b), such Person (an “Indemnified
Party”) shall promptly notify the Person against whom such indemnity may be sought (the “Indemnifying Party”) in writing and the Indemnifying Party shall assume the defense thereof, including the employment of counsel
reasonably satisfactory to such Indemnified Party, and shall assume the payment of all reasonable fees and expenses; provided, that the failure of any Indemnified Party so to notify the Indemnifying Party shall not relieve the Indemnifying
Party of its obligations hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure to notify. In any such proceeding, any Indemnified Party shall have the right to retain its own counsel, but the fees and
expenses of such counsel shall be at the expense of such Indemnified Party unless (i) the Indemnifying Party and the Indemnified Party shall have mutually agreed to the retention of such counsel or (ii) in the reasonable judgment of such
Indemnified Party (1) representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them or (2) there would be rights or defenses that would be available to such
Indemnified Party that are not available to the Indemnifying Party. It is understood that, in connection with any proceeding or related proceedings in the same jurisdiction, the Indemnifying Party shall not be liable for the fees and expenses of
more than one separate firm of attorneys (in addition to any local counsel) at any time for all such Indemnified Parties, and that all such fees and expenses shall be reimbursed promptly after receipt of an invoice setting forth such fees and
expenses in reasonable detail. In the case of any such separate firm for the Indemnified Parties, 

  
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such firm shall be designated in writing by the Indemnified Parties. The Indemnifying Party shall not be liable for any settlement of any proceeding effected without its written consent, but if
settled with such consent, or if there be a final judgment for the plaintiff, the Indemnifying Party shall indemnify and hold harmless each Indemnified Party from and against any Damages (to the extent obligated herein) by reason of such settlement
or judgment. Without the prior written consent of each affected Indemnified Party, no Indemnifying Party shall effect any settlement of any pending or threatened proceeding in respect of which such Indemnified Party is or could have been a party and
indemnity could have been sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Party from all liability arising out of such proceeding. 

(d) If the indemnification provided for in Section 2.10(a) or Section 2.10(b) is held by a
court of competent jurisdiction to be unavailable to the Indemnified Parties or is insufficient in respect of any Damages, then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable
by such Indemnified Party as a result of such Damages in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and the Indemnified Parties in connection with such actions which resulted in such Damages, as well as
any other relevant equitable considerations. The relative fault of such Indemnifying Party and the Indemnified Parties shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact has been made by, or relates to information supplied by, such Indemnifying Party or the Indemnified Parties and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such action. The parties agree that it would not be just and equitable if contribution pursuant to this Section 2.10(d) were determined by pro rata allocation or
by any other method of allocation that does not take account of the equitable considerations referred to above. The amount paid or payable by a party as a result of the Damages referred to above shall be deemed to include, subject to the limitations
set forth in Section 2.10(a) or Section 2.10(b), any legal or other expenses reasonably incurred by a party in connection with investigating or defending any such action or claim. Notwithstanding
the provisions of this Section 2.10, no Holder shall be required to contribute any amount in excess of the net proceeds (after deducting the Underwriters’ discounts and commissions) received by such Holder in the
offering. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. Each Holder’s
obligation to contribute pursuant to this Section 2.10 is several in the proportion that the proceeds of the offering received by such Holder bears to the total proceeds of the offering received by all such Holders and not
joint. The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director, or controlling Person of such indemnified
party and shall survive the transfer of securities. The Company also agrees to make such provisions, as are reasonably requested by any indemnified party, for contribution to such party in the event the Company’s indemnification is unavailable
for any reason. 
 2.11 Rule 144. The Company shall use its commercially reasonable efforts to file any reports required to be filed
by it under the Securities Act and the Exchange Act, and it shall use its commercially reasonable efforts to take such further action as any holder may reasonably request to make available adequate current public information with respect to the
Company meeting the current public information requirements of Rule 144(c) under the Securities Act, to the extent required to enable such holder to sell Registrable Securities without registration under the Securities Act within the limitation of
the exemptions provided by (i) Rule 144 under the Securities Act, as such rule may be amended from time to time, or (ii) any similar rule or regulation hereafter adopted by the SEC. 

  
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 2.12 Inconsistent Agreements. The Company and its Affiliates shall not, without the
prior written consent of the Holders of at least a majority of the Registrable Securities at the time in question, enter into any agreement with respect to the registration or sale of its securities that is inconsistent with or senior to the rights
granted under this Article II. 
 ARTICLE III 

PREEMPTIVE RIGHTS 
 3.1
Grant of Preemptive Rights. If, for so long as the Investors or their Affiliates hold at least 25% of the then outstanding shares of Series A Preferred Stock, the Company or any of its Subsidiaries proposes to issue or Transfer (or offer to
issue or Transfer) to any Person any Securities, other than Securities described in Section 3.5 (such Securities, “New Securities”), then the Company shall first deliver to the Investors a written notice
(an “Offer Notice”) setting forth (a) the aggregate number of New Securities proposed to be issued or Transferred, (b) the price per New Security and all other material terms and conditions applicable to the offer and the
New Securities (whether proposed to be set forth in the Organizational Documents, an agreement with the Company or any of its Subsidiaries or otherwise), (c) the identity of each Person to whom securities are proposed to be issued (or, if unknown,
how such Persons shall be identified), (d) all written financial information and other disclosures provided by the Company or its representatives to any other proposed recipient of the New Securities and (e) an offer to issue or Transfer to the
Investors, on the same terms and conditions described in the Offer Notice, up to a fraction of such New Securities equal to the Pro Rata Percentage. 

3.2 Exercise of Preemptive Rights. The Investors may irrevocably elect to purchase New Securities on the terms set forth in the Offer
Notice by delivering a written notice to the Company within 15 days after receipt of the Offer Notice (or such longer period as the Company may specify therein) setting forth the amount of New Securities that the Investors desire to purchase (a
“Purchase Notice”). 
 3.3 Issuance of New Securities. Subject to Section 3.5, in the event
the Investors timely deliver a Purchase Notice, then the issuance or Transfer of New Securities set forth in the Purchase Notice delivered by the Investors shall take place no later than 60 days after the date of the Offer Notice and, except as
otherwise agreed in writing between the Company and the Investors, concurrent with the issuance of New Securities to other Person(s), if any, participating in such issuance or Transfer of New Securities, and the number of New Securities issued to
Persons other than the Investors shall be no greater than the number of New Securities described in the Offer Notice minus the number of New Securities elected to be purchased by the Investors in the related Purchase Notice. In the event that
the Investors do not timely deliver a Purchase Notice, then the Company or its Subsidiary, as applicable, shall have the right, but shall not be obligated, to issue or Transfer no later than 60 days after the date of the Offer Notice up to the
number of New Securities described in the Offer Notice. In any event, New Securities issued hereunder to the Investors shall be on the terms set forth in the related Offer Notice, and New Securities issued to any other Person(s) shall be at a price
and on other terms and conditions not more favorable to such Person(s) than those offered to the Investors in the related Offer Notice. No New Securities may be issued or Transferred by the Company or its Subsidiaries following the 60th day after the date of the Offer Notice without delivering to the Investors an additional Offer Notice in compliance with this Article III. 

  
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 3.4 Right of Assignment. The Investors may assign, in whole or in part, their right
to purchase New Securities pursuant to this Article III to any Affiliate and, upon such assignment, such Person shall be entitled to exercise the rights of the Investors hereunder. 

3.5 Exceptions to Preemptive Rights. The rights of the Investors under this Article III shall not apply to Securities issued or
Transferred (a) pursuant to the Amended and Restated 2015 Stock Option and Incentive Plan of the Company or any similar equity- or incentive-based compensation plan or agreement approved by the Board of Directors after the date of this
Agreement, (b) as a result of any stock or equity split (or reverse split) of the Company or any of its Subsidiaries effected on a pro rata basis among all equity interests of the same class or series, (c) as a dividend or
distribution on Series A Preferred Stock, (d) by a direct or indirect Subsidiary of the Company to the Company or another direct or indirect Subsidiary of the Company, (e) pursuant to the Purchase Agreement, (f) in accordance with an
express waiver of the provisions of this Article III executed by the Investors, (g) to Persons as direct consideration for the acquisition of another corporation or other entity, or the acquisition of a line of business or of assets of
another corporation or other entity, by the Company or any of its Subsidiaries, by stock purchase, merger, purchase of all or substantially all assets or other reorganization or (h) upon the conversion or exchange of any other Securities that
were (i) issued prior to the date of this Agreement, (ii) offered to the Investors pursuant to this Article III or (iii) exempt from this Article III. 

3.6 Regulatory Conditions. If, as a result of the exercise of a right pursuant to this Article III, the Investors notify the
Company within five Business Days of their exercise of such right that the Investors reasonably believe a Regulatory Approval Condition may apply, then the Investors and the Company shall cooperate in good faith to determine the applicability of any
such Regulatory Approval Condition and use (and cause their respective Affiliates to use) their respective reasonable best efforts to take or cause to be taken all actions reasonably necessary or advisable on their part to cause the satisfaction of
any such Regulatory Approval Condition, including by (a) furnishing the other with all information concerning itself and its Affiliates, directors, officers and stockholders and such other matters as may be reasonably necessary or advisable in
connection with any statement, filing, notice or application made by or on behalf of the Investors, or the Company or any of their respective Affiliates to any Governmental Authority in connection with such exercise; and (b) preparing and
filing as promptly as reasonably practicable all documentation to effect all necessary notices, reports and other filings and to obtain as promptly as reasonably practicable all consents, clearances, registrations, approvals, permits and
authorizations necessary or advisable to be obtained from any Governmental Authority in order to consummate such purchase of New Securities. Notwithstanding anything to the contrary herein, in no event shall any transaction pursuant to this
Article III occur without the written consent of the Investors and the Company unless and until the satisfaction of all Regulatory Approval Conditions that either such Person reasonably determines are applicable to such conversion. The costs
and expenses of all activities required pursuant to this Article III shall be borne by the Person or Persons incurring such costs and expenses. 

  
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 ARTICLE IV 

BOARD RIGHTS 
 4.1
Series A Director. So long as 33% of the Series A Preferred Stock issued on the date of this Agreement (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with
respect to the Series A Preferred Stock) remains outstanding, the Series A Requisite Investors shall be entitled to nominate one director of the Company (the “Series A Director”) to the Board of Directors and all committees of the
Board of Directors (subject, in the case of the committees of the Board of Directors, to NASDAQ listing requirements regarding director independence and to the independence requirements under Rules 10A-3 and 16b-3 of the Exchange Act) the Company shall cause the Series A Director to be so appointed as of the date hereof (or as of the date of the applicable nomination with respect to any Series A Director nominated after
the date hereof). Notwithstanding the foregoing, the Series A Requisite Investors may, in their sole discretion, waive in a written notice to the Board of Directors the right of the Series A Requisite Investors to appoint the Series A Director. For
the avoidance of doubt, the Series A Director shall be entitled to substantially comparable compensation for his or her service to the Company as the other members of the Board of Directors, including reimbursement from the Company for any
reasonable out-of-pocket expenses incurred during the course of performing his or her duties as a Series A Director. 

4.2 Observer. For so long as the holders of the Series A Preferred Stock have the right to designate the Series A Director to the Board
of Directors, such holders shall also have the right to appoint one observer to the Board (the “Observer”) in lieu of the Series A Director. The Observer shall be entitled to attend all meetings of the Board of Directors and all
committees thereof in a non-voting observer capacity and to receive copies of all materials relating to the Company and its Subsidiaries that would have been provided to the Series A Director and any committee
of the Board of Directors, including notices, minutes, consents (including materials provided in connection with any solicitation of written consent of the Board of Directors) and any other materials provided to the directors at the same time and in
the same manner as provided to the directors; provided, that the Observer shall agree to hold such materials and information in confidence to same extent as required of the Series A Director. 

4.3 Company Obligations. The company covenants and agrees that for so long as the Series A Requisite Investors have the right to
nominate a Series A Director to use its best efforts to ensure that (i) each Series A Director is included in the Board of Director’s slate of nominees in connection with soliciting proxies for every meeting of the stockholders of the
Company called with respect to the election of members of the Board of Directors and (ii) each such nominee is included in the proxy statement prepared by management of the Company in connection with soliciting proxies for every meeting of the
stockholders of the Company called with respect to the election of members of the Board of Directors, and at every adjournment and postponement thereof, and on every action or approval by written consent of the stockholders of the Company with
respect to the election of members of the Board of Directors. 
 4.4 Term. Any Series A Director shall hold office until his or her
successor shall have been duly elected and qualified, subject, however, to such director’s earlier death, resignation, disqualification or removal. Any vacancy in the Board of Directors of a seat entitled to be filled by the holders of the
Series A Preferred Stock under this Article IV may be filled by the Series A Requisite Investors. A Series A Director may be removed with or without cause, in each case only by the Series A Requisite Investors. If at any time less than 33% of
the Series A Preferred Stock issued on the date of this Agreement remains outstanding, the Series A Director may be removed from the Board by the holders of a majority of the shares of Common Stock then entitled to vote at an election of directors
of the Company. 

  
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 4.5 Company Necessary Action. The Company shall take all necessary actions to cause
the election of each designee to the Board of Directors as contemplated by this Article IV. The Company agrees that taking all necessary actions to effectuate the foregoing shall include (i) including such designees in the slate of
nominees recommended by the Board of Directors at a meeting of stockholders called for the purpose of electing directors, (ii) nominating and recommending each such individual to be elected as a director as provided herein and
(iii) soliciting proxies or consents in favor thereof. 
 ARTICLE V 

STANDSTILL; RESTRICTIONS ON TRANSFER 

5.1 Standstill. Other than pursuant to the preemptive rights set forth in Article III, as contemplated by the Purchase
Agreement, any exercise of the Warrant or actions taken by the Series A Director in his/her capacity as a member of the Board in light of such director’s fiduciary duties, until the earlier of (a) the 3rd anniversary of the date hereof, (b) the expiration of the right of Series A Requisite Investors to elect the Series A Director, and (c) the date on which the Investors and their Affiliates
beneficially own less than 5% of the shares of Common Stock then issued and outstanding, the Investors shall not (provided, that the foregoing limitation shall only apply to the “Power Opportunities” and “Opportunities”
strategies of the Investors, and not to any other strategies of the Investors, the Investors’ Affiliates or any of its or their other investments or portfolio companies), except as expressly approved or invited in writing by the Company:
(i) directly or indirectly, acquire beneficial ownership of Common Stock or Common Stock Equivalents or any instrument that gives the Investor or any of its Affiliates the economic equivalent of ownership of Common Stock (a
“Derivative”); (ii) make a tender, exchange or other offer to acquire Common Stock or Common Stock Equivalents; (iii) directly or indirectly, (1) seek to have called any meeting of the stockholders of the Company or
propose any matter to be voted upon by the stockholders of the Company, or (2) propose or nominate for election to the Board of Directors any person whose nomination has not been approved by a majority of the Board of Directors (excluding the
Series A Director); (iv) directly or indirectly, knowingly encourage or support a tender, exchange or other offer or proposal by any other Person or group (an “Offeror”) for Common Stock (if such offer or proposal would, if
consummated, result in a Change of Control of the Company, such offer or proposal is referred to as an “Acquisition Proposal”); provided, however, that from and after the filing of a Schedule 14D-9 (or successor form of Tender Offer Solicitation/Recommendation Statement under Rule 14d-9 of the Exchange Act) by the Company recommending that stockholders accept any
such offer filed after such offer has commenced, the Investor shall not be prohibited from taking any of the actions otherwise prohibited by this Section 5.1 for so long as the Board of Directors maintains and does not
withdraw such recommendation; (v) directly or indirectly, knowingly solicit proxies or consents or become a participant in a solicitation (as such terms are defined in Regulation 14A under the Exchange Act); (vi) publicly propose (1) any
merger, consolidation, business combination, tender or exchange offer, purchase of the Company’s assets or businesses or any similar transaction involving the Company or (2) any recapitalization, restructuring, liquidation or other
extraordinary transaction with respect to the Company, in each case without the prior written consent of the Board (a transaction described in clauses (1) and (2) that would result in a Change of Control, is referred to as a “Business
Combination”); (vii) knowingly act in concert 

  
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with any Third Party to take any action in clauses (i) through (vi) above; (viii) make any public announcement regarding, or take any action that would reasonably be expected to require
the Company to make a public announcement regarding, a potential Business Combination or any of the matters set forth in clauses (i) through (vii) above; or (ix) enter into any arrangements or agreements with any Person relating to the
foregoing actions referred to in (i) through (vii) above; provided, however, that nothing contained in this Section 5.1 shall prohibit the Investor or any of their Affiliates from making confidential, non-public proposals to the Board of Directors. 
 5.2 Standstill Termination. Notwithstanding the
foregoing, the restrictions set forth in Section 5.1 shall terminate automatically upon (a) any Third Party (i) becoming the beneficial owner (within the meaning of Section 13(d)(1) of the Exchange Act) of 35% or more of the
issued and outstanding shares of Common Stock or (ii) commencing a tender or exchange offer that, if consummated, would make such person (or any of its affiliates) the beneficial owner (within the meaning of Section 13(d)(1) of the
Exchange Act) of 35% or more of the issued and outstanding shares of Common Stock; (b) the Company entering into a definitive agreement with a Third Party to effectuate (i) a sale of 35% or more of the consolidated assets of the Company
and its wholly owned subsidiaries or (ii) a transaction (1) that, in whole or in part, requires the approval of the Company’s stockholders and, (2) in which, based on information publicly available at the time of announcement of
the entering into of such agreement, the holders of the Common Stock prior to such transaction will not own, immediately following such transaction, at least 80% of the Common Stock of either (A) the corporation resulting from such transaction,
or (B), if applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of all of the outstanding equity securities of such surviving corporation; or (c) the Company filing for bankruptcy. 

5.3 Restrictions on Transfer. From and after the date hereof, the Investors shall not be permitted to Transfer any shares of Series A
Preferred Stock held by the Investors as of the date hereof without the prior written consent of the Company (such consent not to be unreasonably withheld, conditioned or delayed); provided, that any Transfer to an Affiliate of the Investors
shall not require such consent of the Company. Any transferee so consented to by the Company shall be bound by all of the provisions of the Transaction Agreements and Organizational Documents applicable to a holder of shares of Series A Preferred
Stock. 
 ARTICLE VI 

RECORDS; ACCESS; NOTICE; CERTIFICATION 

6.1 Books and Records; Reports. For so long as the Investors or their Affiliates hold any shares of Series A Preferred Stock, the
Company shall, and shall cause each of its Subsidiaries to, maintain proper books of record and account, in which true and complete entries (in all material respects in conformity with GAAP consistently applied) shall be made of all financial
transactions and matters involving the assets and business of the Company or any Subsidiary, as the case may be. For the avoidance of doubt, a restatement of the Company’s financial statements shall not constitute a breach of this
Section 6.1. For so long as the Investors or their Affiliates hold any shares of Series A Preferred Stock, the Company shall deliver to the Investors (a) any financial or other reports delivered to the applicable
lenders under the agreements or instruments for any indebtedness of the Company (collectively, the “Company Debt Agreements”) promptly following such delivery thereof and (b) as soon as available, and in any event within 30
days after the end of each month, a summary financial statement of the Company and its Subsidiaries as at the end of such calendar month, including the unaudited consolidated balance sheet as at the end of such calendar month and unaudited
consolidated statements of income, statement of cash flows and stockholders’ equity for such calendar month and for the period from the beginning of the then current fiscal year to the end of such calendar month. 

  
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 6.2 Access. For so long as the Investors or their Affiliates hold any shares of
Series A Preferred Stock, the Company shall, and shall cause each of its Subsidiaries to, permit any representatives designated by the Investors, upon reasonable prior written notice, to visit and inspect its properties, to examine and make extracts
from its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times during the Company’s normal business hours and as often as reasonably requested.
Notwithstanding the foregoing, the Company shall not be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter that is subject to attorney-client or
similar privilege or constitutes attorney work product. In addition to the foregoing, for so long as the Investors or their Affiliates hold any shares of Series A Preferred Stock, the Company shall provide the Investors with any other financial,
tax, accounting or other information of the Company and its Subsidiaries as reasonably requested by the Investors, including any information that the Investors may reasonably request with respect to the Company’s current and accumulated
earnings and profits for U.S. federal income tax purposes. 
 6.3 Notice. For so long as the Investors or their Affiliates hold any
shares of Series A Preferred Stock, the Company shall promptly inform the Investors of (a) any breach by the Company or its Subsidiaries of any covenant contained in any Company Debt Agreement, (b) any commencement of any involuntary
insolvency proceedings, material legal suit for payment of debt or securement of security from or by any person in respect of the Company or any of its Subsidiaries, (c) a breach of any Transaction Agreement or the Organizational Documents, and
(d) any representation or statement made by the Company or any of its Subsidiaries under any Transaction Agreement which is or proves to have been materially incorrect or misleading in any respect when made or deemed to be made. 

6.4 Certification. For so long as the Investors or their Affiliates hold any shares of Series A Preferred Stock, on the last day of each
fiscal quarter of the Company, the Company shall deliver to the Investors a certification by the chief financial officer of the Company (or Persons in substantially equivalent positions) confirming the Company’s compliance with its covenants
set forth in the Certificate of Designations and confirming the “Fixed Charge-Dividend Coverage Ratio” (as defined therein) of the Company as of such date, together with a reasonably detailed calculation thereof. 

ARTICLE VII 
 RIGHT OF
FIRST REFUSAL 
 7.1 Grant. For so long as the Investors or their Affiliates hold any shares of Series A Preferred Stock, the
Company hereby unconditionally and irrevocably grants to the Investors and their Affiliates a right of first refusal (the “Right of First Refusal”) with respect to the granting of any financing to the Company or its Subsidiaries in
connection with future requests for debt financing; provided that the foregoing shall not include any such debt financing (a) from commercial banks or (b) in the form of high yield debt financing on customary terms (under normal
market conditions, not distressed conditions) (any such financing, a “ROFR Financing”). 

  
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 7.2 Notice. In the event the Company or its Subsidiaries proposes to undertake a ROFR
Financing, the Company must deliver to the Investors a written notice setting for the terms and conditions of such proposed ROFR Financing (the “Proposed Financing Notice”) no later than 20 days prior to the consummation of such
proposed ROFR Financing. Such Proposed Financing Notice shall contain all of the proposed terms and conditions of the proposed ROFR Financing, the identity of the parties contemplated to provide such ROFR Financing and the intended closing date of
such ROFR Financing. To exercise its Right of First Refusal under this Section 7.2, the Investors must deliver a notice to the Company within 15 days after delivery of the Proposed Financing Notice confirming the exercise
of the Right of First Refusal and acceptance by the Investors of the ROFR Financing on the same material terms and conditions as set forth in the Proposed Financing Notice. 

7.3 Conflict. In the event of any conflict between this Agreement and any other agreement or Organizational Document of the Company
containing a right of first refusal, the terms of this Agreement shall control. 
 7.4 Period. No ROFR Financing may be consummated by
the Company or its Subsidiaries following the 60th day after the date of the Proposed Financing Notice without the Company again delivering to the Investors an additional Proposed Financing Notice
in compliance with this Article VII and again following the procedures set forth in this Article VII. 
 ARTICLE VIII

 CURATIVE CAPITAL 

8.1 Cure Notice. For so long as the Investors or their Affiliates hold any shares of Series A Preferred Stock, the Company shall
provide prompt written notice to the Investors if the Company has been notified by its principal financial officer (or another senior executive officer of the Company) that a default of any Company Debt Agreement is reasonably likely to occur (or
has occurred), including an estimate of the applicable amount (the “Cure Amount”) that may be needed to cure such possible default (such notice, the “Breach Notice”). The Company shall use reasonable best efforts to
deliver such Breach Notice no later than ten Business Days prior to the date the Company is required to deliver a cure notice to the administrative agent under the applicable Company Debt Agreement. 

8.2 Curative Capital. Following the Company’s delivery of a Breach Notice to the Investors, the Investors shall have the right to
invest equity (“Curative Capital”) into the Company in exchange for Curative Equity, subject to the terms and conditions set forth in this Article VIII (the aggregate amount of Curative Capital funded by the Investors, the
“Curative Funding Amount”); provided, however, that the Investors shall not have any rights to invest any Curative Capital if the lenders under the applicable Company Debt Agreement have agreed to waive compliance with
the default to which the Breach Notice relates. For the avoidance of doubt, the Investors shall not be required to fund any amount of Curative Capital. Any Curative Capital invested shall be in the form of Curative Equity (as defined below). For
purposes of this Agreement, “Curative Equity” means (a) a number of shares of Series A Preferred Stock equal to (i) the aggregate Curative Funding Amount (accounting for any Excess Curative Funding) divided by (ii)
$1,000.00 and (b) warrants (in the same form, including at the same exercise price, as the Warrant) for a number of shares of Common Stock equal to (i) 0.0117 multiplied by (ii) the aggregate Curative Funding Amount (accounting for
any Excess Curative Funding). Notwithstanding anything to the contrary herein, Article III shall not apply with respect to the funding and issuance of the Curative Capital and Curative Equity hereunder. 

  
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 8.3 Curative Capital Notice. In the event the Investors elect to fund Curative
Capital hereunder, the Investors shall deliver written notice to the Board of Directors (the “Curative Capital Notice”) within ten Business Days after receipt of the Breach Notice setting forth (a) the Cure Amount, (b) any
amount in addition to the Cure Amount proposed to funded by the Investors (such excess, “Excess Curative Funding”) and the aggregate Curative Funding Amount (i.e., the Cure Amount plus any Excess Curative Funding) and
(c) the closing date the Investors proposes for the funding of the Curative Capital (which shall not be after the date that Curative Capital must be received by the Company pursuant to the applicable Company Debt Agreement in order to cure an
“Event of Default” or comparable term under any applicable Company Debt Agreement (the “Curative Capital Deadline”)). The acceptance of any Excess Curative Funding will be at the option of the Board of Directors. If a
Curative Capital Notice is timely received, the Company shall use reasonable best efforts to take such actions within its control to cause the closing of the purchase and sale of the Curative Capital, in the aggregate Curative Funding Amount
(including the Excess Curative Funding, if accepted by the Board of Directors), to occur on or prior to the Curative Capital Deadline. If a Curative Capital Notice is not timely received, the Investors shall be deemed to have waived its preemptive
rights with regard to any equity raised by the Company with the specific purpose of paying the Cure Amount included in the Breach Notice. Immediately upon the receipt of such Curative Capital Notice, the Company shall deliver a cure notice to the
administrative agent and exercise its equity cure rights under the applicable Company Debt Agreement. 
 8.4 Payment. Curative Capital
shall be paid in cash payable at the time of the acquisition thereof by wire transfer of immediately available funds. Any Curative Capital up to the amount of the Cure Amount shall be used exclusively to cure the applicable “Event of
Default” or comparable term under the applicable Company Debt Agreement. The use of any Excess Curative Funding, if any, shall be determined by the Board of Directors. If any Curative Capital would be payable to the lenders pursuant to the
applicable Company Debt Agreement upon receipt of such Curative Capital by the Company or any of its Subsidiaries, the Investors shall have the right to wire the funds directly to such lenders in accordance with the applicable Company Debt
Agreement, and any such amounts so paid shall be deemed to have been paid to the Company (or its Subsidiary, as applicable) in exchange for the Curative Equity. The Company shall also provide the Investors with any applicable waiver, forbearance or
similar agreement with respect to the applicable Company Debt Agreement (with respect to which the Curative Capital is being provided) at least two Business Days prior to the execution thereof and consider any comments thereon provided by the
Investors in good faith. 
 ARTICLE IX 

TAX MATTERS 
 9.1
Treatment of Preferred Stock. The Company and the Investors agree that it is their intention that the Warrants should be treated as common stock of the Company for U.S. federal income tax purposes. The Company and the Investors agree to take
no positions or actions inconsistent with such treatment (including on any IRS Form 1099), unless otherwise required by (i) a change in applicable Law or (ii) the IRS or other relevant tax authority following an audit or other examination
in which the tax treatment described in this paragraph was defended by the taxpayer in good faith. 

  
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 9.2 Corporation Status. For so long as the Investors or their Affiliates hold any
shares of Series A Preferred Stock, the Company shall not be liquidated, merged, converted into a limited liability company, or otherwise enter into a transaction pursuant to which the Company (or any resulting entity (including an interim entity in
a series of steps)) ceases to exist as an entity treated as a corporation for U.S. federal income tax purposes (and state and local tax purposes, where applicable) without the Investors’ prior written approval. 

ARTICLE X 

INDEMNIFICATION 

10.1 Right to Indemnification. The Company shall indemnify and hold harmless, to the fullest extent permitted by applicable Law as it
presently exists or may hereafter be amended, any Series A Director, the Investors and their respective Affiliates (other than the Company and its Subsidiaries) and direct and indirect partners (including partners of partners and stockholders and
members of partners), members, stockholders, managers, directors, officers, employees and agents and each Person who controls any of them within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (the
“Covered Persons”) from and against any and all losses, claims, damages, liabilities and expenses (including reasonable attorneys’ fees), sustained or suffered by any such Covered Person based upon, relating to, arising out of,
or by reason of any third party or governmental claims relating to such Covered Person’s status as a stockholder or controlling person of the Company (including any and all losses, claims, damages or liabilities under the Securities Act, the
Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, which relate directly or indirectly to the registration, purchase, sale or ownership of any equity securities of the Company or to any fiduciary
obligation owed with respect thereto), including in connection with any third party or governmental action or claim relating to any action taken or omitted to be taken or alleged to have been taken or omitted to have been taken by any Covered Person
as a stockholder or controlling person, including claims alleging so-called control person liability or securities law liability (any such claim, a “Claim”), except to the extent such Claim is
due to or stems from the gross negligence, willful misconduct or fraud of the Series A Director, the Investors and their respective Affiliates (other than the Company and its Subsidiaries). Notwithstanding anything herein to the contrary, in no
event shall the aggregate liability of the Company under this Article X exceed an amount equal to the aggregate amount actually funded by Investors pursuant to the Purchase Agreement and this Agreement as of the applicable date of
determination, less an amount equal to (i) the number of shares of Series A Preferred Stock that the Company has redeemed pursuant to Section 7 of the Certificate of Designations as of the date of determination multiplied by (ii) the
Original Issue Price (as defined in the Certificate of Designations). 
 10.2 Prepayment of Expenses. To the extent not prohibited by
applicable Law, the Company shall pay the expenses (including reasonable attorneys’ fees) incurred by a Covered Person in defending any Claim in advance of its final disposition; provided, however, that, to the extent required by
applicable Law, such payment of expenses in advance of the final disposition of such Claim shall be made only upon receipt of an undertaking by such Covered Person to repay all amounts advanced if it should be ultimately determined that such Covered
Person is not entitled to be indemnified under this Article X or otherwise. 
 10.3 Claims. If a claim for indemnification or
advancement of expenses under this Article X is not paid in full within 30 days after a written claim therefor by the Covered Person has been received by the Company, such Covered Person may file suit to recover the unpaid amount of such
claim and, if successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim. In any such action the Company shall have the burden of proving that the Covered Person is not entitled to the requested
indemnification or advancement of expenses under applicable Law. 

  
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 10.4 Nonexclusivity of Rights. The rights conferred on any Covered Person by this
Article X shall not be exclusive of any other rights that such Covered Person may have or hereafter acquire under any statute, provision of any Organizational Documents of the Company or its Subsidiaries or any agreement, vote of stockholders
or disinterested directors or otherwise. 
 10.5 Other Sources. Subject to Section 10.6, the Company’s
obligation, if any, to indemnify or to advance expenses to any Covered Person shall be reduced by any amount such Covered Person may collect as indemnification or advancement of expenses from any other Person. 

10.6 Indemnitor of First Resort. The Company hereby acknowledges that the Covered Persons may have certain rights to advancement or
indemnification other than from the Company (collectively, the “Other Indemnitors”). In all events, (i) the Company hereby agrees that it is the indemnitor of first resort (i.e., its obligation to a Covered Person to provide
advancement and/or indemnification to such Covered Person are primary and any obligation of the Other Indemnitors (including any Affiliate thereof other than the Company) to provide advancement or indemnification hereunder or under any other
indemnification agreement (whether pursuant to contract, by-laws or charter), or any obligation of any insurer of the Other Indemnitors to provide insurance coverage, for the same expenses, liabilities,
judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such expenses, liabilities, judgments, penalties, fines and amounts paid in
settlement) incurred by such Covered Person are secondary and (ii) if any Other Indemnitor (or any Affiliate thereof, other than the Company) pays or causes to be paid, for any reason, any amounts otherwise indemnifiable hereunder or under any
other indemnification agreement (whether pursuant to contract, bylaws or charter) with such Covered Person, then (x) such Other Indemnitor (or such Affiliate, as the case may be) shall be fully subrogated to all rights of such Covered Person
with respect to such payment and (y) the Company shall fully indemnify, reimburse and hold harmless such Other Indemnitor (or such other Affiliate, as the case may be) for all such payments actually made by such Other Indemnitor (or such other
Affiliate, as the case may be). 
 ARTICLE XI 

MISCELLANEOUS 
 11.1
Successors and Assigns. 
 (a) 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. 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. 

  
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 (b) The rights and obligations under this Agreement shall be automatically assignable by the
Holders to any transferee of all or any portion of such Holder’s Registrable Securities if (i) the transferring Holder agrees in writing with the transferee to assign such rights and obligations, and a copy of such agreement is furnished
to the Company within a reasonable time after such assignment, (ii) such transferee becomes a party to this Agreement by executing a joinder hereto, substantially in the form of Exhibit A, (iii) giving effect to such transfer, the
Registrable Securities transferred to such transferee would be Registrable Securities, and (iv) such transfer shall have been made in accordance with the requirements of applicable Law and SEC Guidance. Upon compliance with the foregoing
sentence any such transferee shall become a Holder under this Agreement. 
 (c) For the avoidance of doubt, the provisions of this
Section 11.1 are subject to Section 5.2. 
 11.2 Governing Law. This Agreement and
any controversy arising out of or relating to this Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware as to matters within the scope thereof, and as to all other matters shall be
governed by and construed in accordance with the internal laws of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware. 

11.3 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including .pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, the Uniform Electronic
Transactions Act or other applicable law, e.g., www.docusign.com) 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. 

11.4 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. 
 11.5 Notices. All notices and other communications given or made pursuant
to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or: (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail or facsimile during normal business
hours of the recipient, and if not sent during normal business hours, then on the recipient’s next Business Day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or
(d) one (1) Business Day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. If notice is given to the Company, it shall be sent to TPI
Composites, Inc., 8501 N. Scottsdale Road, Gainey Center II, Suite 100, Scottsdale, AZ 85253, Attention: [•]; [•]; and a copy (which shall not constitute notice) shall also be sent to Goodwin Procter LLP, 601 Marshall Street, Redwood City,
California 94063, Attention: Bradley C. Weber (bweber@goodwinlaw.com) and Kim de Glossop (kdeglossop@goodwinlaw.com). If notice is given to the Investors, it shall be sent to c/o Oaktree Capital Management, LP, 333 S. Grand Ave., 28th Floor, Los
Angeles, California 90071, Attention: Jordan Mikes (jmikes@oaktreecapital.com), Peter Jonna (pjonna@oaktreecapital.com), and Brook Hinchman (bhinchman@oaktreecapital.com); and a copy (which shall not constitute notice) shall also be sent to
Sullivan & Cromwell LLP, 1888 Century Park East, Suite 2100, Los Angeles, California 90067, Attention: Patrick S. Brown (brownp@sullcrom.com) and Rita-Anne O’Neill (oneillr@sullcrom.com). 

  
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 11.6 Amendments and Waivers. Any provision of this Agreement may be amended or
waived if, and only if, such amendment or waiver is in writing and signed, in the case of an amendment, by the Series A Requisite Investors and the Company, or in the case of a waiver, by the party against whom the waiver is to be effective. No
failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right,
power or privilege. 
 11.7 Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the
validity or enforceability of any other provision. 
 11.8 Delays or Omissions. No delay or omission to exercise any right, power or
remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any
single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement,
or any waiver on the part of any party 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 or by law or
otherwise afforded to any party, shall be cumulative and not alternative. 
 11.9 Entire Agreement. This Agreement (including the
Exhibits hereto), the Certificate of Designations and the other Transaction Agreements constitute the full and entire understanding and agreement between the parties with respect to the subject matter hereof, and any other written or oral agreement
relating to the subject matter hereof existing between the parties are expressly canceled. 
 11.10 Dispute Resolution. The parties
(a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of the State of Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action or
other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of the State of Delaware or the United States
District Court for the District of Delaware, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the
jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that
this Agreement or the subject matter hereof may not be enforced in or by such court. Each party shall bear its own costs in respect of any disputes arising under this Agreement. The prevailing party shall be entitled to reasonable attorney’s
fees, costs, and necessary disbursements in addition to any other relief to which such party may be entitled. 

  
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 11.11 WAIVER OF JURY TRIAL. EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF
ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE
ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING
NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS SHALL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER
WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 

11.12 Specific Performance. Each party hereto expressly acknowledges and agrees that it would be difficult to measure the damages that
might result from any actual or threatened breach of this Agreement, and that any actual or threatened breach by a party hereto of any of the provisions of this Agreement may result in immediate, irreparable and continuing injury to the other party
hereto for which a remedy at law would be inadequate. Each of the parties hereto therefore agrees that, in addition to any other available remedies the other party hereto may have in equity or at law, such other party shall be entitled, without the
posting of a bond, to enforce specifically the terms and provisions of this Agreement and to obtain temporary, preliminary and permanent injunctive relief or other equitable relief, in each case issued by a court of competent jurisdiction in
accordance with Section 11.10, in case of any such actual or threatened breach by such party. 
 11.13
Enforcement of Remedies. Notwithstanding anything contained in this Agreement to the contrary, each Holder hereby acknowledges and agrees that no Holder shall have any right to enforce this Agreement against any other Holder or compel or seek
to compel any Holder to enforce this Agreement against any other Holder, and such right to enforce this Agreement against a Holder shall be solely and exclusively vested in the Company (and its successors and assigns). 

11.14 Third Parties. Except as expressly set forth herein, nothing expressed or implied in this Agreement is intended or shall be
construed to confer on any Person, other than the parties hereto, any legal or equitable right, remedy or claim under or with respect to this Agreement or any provision of this Agreement. 

11.15 Certain Representations and Warranties; Covenants. Each party hereby represents and warrants to the other parties as follows:
(a)(i) if such party is an entity, such party has all requisite authority to execute and deliver this Agreement and to perform its obligations hereunder and (ii) if such party is an individual, such party has all requisite capacity to execute
and deliver this Agreement and to perform his or her obligations hereunder, (b) this Agreement has been duly executed and delivered by such party and constitutes a valid, legal and binding agreement of such party, enforceable against such party
in accordance with its terms and (c) neither the execution of this Agreement by such party nor the performance of such party’s obligations hereunder shall conflict with or violate, or result in a breach or default under, any applicable Law
or legal requirement or any agreement to which such party is a party or is otherwise bound. 
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 IN WITNESS WHEREOF, the parties have executed this Investor Rights Agreement as of the date
first written above. 
  

			
	TPI COMPOSITES, INC.
		
	By:	 	
                     
    

		 	Name:
		 	Title:
	
	[INVESTORS]
		
	By:	 	
                     
   

		 	Name:
		 	Title:

 EXHIBIT A 

FORM OF JOINDER AGREEMENT TO INVESTOR RIGHTS AGREEMENT 

This JOINDER (the “Joinder Agreement”) to the Investor Rights Agreement, dated as of November [7], 2021, by and among TPI
Composites, Inc., a Delaware corporation (the “Company”) and [•] (the “Investor Rights Agreement”), is made as of [•], by and between the Company and [•] (“Holder”). Capitalized terms
used herein but not otherwise defined shall have the meanings set forth in the Investor Rights Agreement. 
 WHEREAS, on the date hereof,
Holder has acquired [•] [shares of Common Stock] [Warrants to purchase shares of Common Stock] (the “Holder Stock”) from [•] and the Investor Rights Agreement and the Company require Holder, as a holder of such Common
Stock, to become a party to the Investor Rights Agreement, and Holder agrees to do so in accordance with the terms hereof. 
 NOW,
THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Joinder Agreement hereby agree as follows: 

 

	1.	 Agreement to be Bound. Holder hereby (i) acknowledges that it has received and reviewed a complete
copy of the Investor Rights Agreement and (ii) agrees that upon execution of this Joinder Agreement, it shall become a party to the Investor Rights Agreement and shall be fully bound by, and subject to, all of the covenants, terms and
conditions of the Investor Rights Agreement as though an original party thereto and shall be deemed a Holder for all purposes thereof. 

  

	2.	 Successors and Assigns. Except as otherwise provided herein, this Joinder Agreement shall bind and inure
to the benefit of and be enforceable by the Company and its successors and assigns and Holder and any subsequent holders of any Holder Stock and the respective successors and assigns of each of them, so long as they hold any Holder Stock.

  

	3.	 Notices. For purposes of Section 11.5 of the Investor Rights Agreement, all notices, demands or
other communications to the Holder shall be directed to: 

 [Name] 

[Address] 
 [Email] 

 

	4.	 Governing Law. This Joinder Agreement and any controversy arising out of or relating to this Joinder
Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance with the
internal laws of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware. The parties (a) hereby irrevocably and unconditionally submit to the
jurisdiction of the state courts of the State of Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement,
(b) agree not to commence any suit, action 

	 	
or other proceeding arising out of or based upon this Joinder Agreement except in the state courts of the State of Delaware or the United States District Court for the District of Delaware, and
(c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property
is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be
enforced in or by such court. Each party shall bear its own costs in respect of any disputes arising under this Joinder Agreement. The prevailing party shall be entitled to reasonable attorney’s fees, costs, and necessary disbursements in
addition to any other relief to which such party may be entitled. THE PARTIES HERETO HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING
TO THIS JOINDER AGREEMENT OR THE TRANSACTIONS CONTEMPLATED THEREBY. 

  

	5.	 Counterparts. This Joinder Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including .pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000,
the Uniform Electronic Transactions Act or other applicable law, e.g., www.docusign.com) 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. 

  

	6.	 Amendments. No amendment or waiver of any provision of this Joinder Agreement, nor any consent or
approval to any departure therefrom, shall in any event be effective unless the same shall be in writing and signed by the parties hereto. 

  

	7.	 Titles and Subtitles. The titles and subtitles used in this Joinder Agreement are used for
convenience only and are not to be considered in construing or interpreting this Joinder Agreement. 

 [Signature Page
Follows] 

  
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