Document:

Exhibit

Exhibit 10.49

FIFTH AMENDMENT TO LOAN AND SECURITY AGREEMENT

This FIFTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”), dated as of May 5, 2017, but effective as of April 30, 2017 (the “Fifth Amendment Date”), is by and among (a) ALIMERA SCIENCES LIMITED, a company registered under the laws of England and Wales under company number 08018355 and having its registered office at Royal Pavilion, Wellesley Road, Aldershot, Hampshire, United Kingdom, GU11 1PZ (“Borrower”), (b) the several banks and other financial institutions or entities from time to time parties to this Loan Agreement (as defined below) (collectively, referred to as “Lender”), and (c) HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent for itself and Lender (in such capacity, the “Agent”).
WHEREAS, Borrower, Lender and the Agent are parties to a certain Loan and Security Agreement, dated as of April 24, 2014, as amended by a certain First Amendment to Loan and Security Agreement dated as of November 2, 2015, as further amended by a certain Second Amendment to Loan and Security Agreement dated as of March 14, 2016, as further amended by a certain Third Amendment to Loan and Security Agreement dated as of May 26, 2016, and as further amended by a certain Fourth Amendment to Loan and Security Agreement dated as of October 20, 2016 (as the same has been and may from time to time be further amended, modified, supplemented, restated or amended and restated in accordance with its terms, the “Loan Agreement”); and
WHEREAS, in accordance with Section 11.3 of the Loan Agreement, Agent, Borrower and Lender desire to amend the Loan Agreement as provided herein.
NOW THEREFORE, in consideration of the mutual agreements contained in the Loan Agreement and herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1.    Defined Terms.  Terms not otherwise defined herein which are defined in the Loan Agreement shall have the same respective meanings herein as therein.
2.    Amendments to Loan Agreement.  Subject to the satisfaction of the conditions set forth in Section 3 of this Amendment, as of the Fifth Amendment Date, the Loan Agreement is hereby amended as follows:
(a)  The Loan Agreement shall be amended by deleting the following term and its definition from Section 1.1 thereof in its entirety and inserting in lieu thereof the following:
“    “Tested Month” means each calendar month other than a calendar month in which both (a) the Consolidated Group maintains Liquidity, to be measured and tested on the last day of such calendar month, of not less than Thirty-Five Million Dollars ($35,000,000.00), and (b) no Event of Default has occurred or is continuing at any time during such calendar month.”

(b)    The Compliance Certificate appearing as Exhibit F to the Loan Agreement is hereby amended and restated in its entirety with the Compliance Certificate appearing as Exhibit A hereto.

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3.    Conditions to Effectiveness.  Agent, Lender and Borrower agree that this Amendment shall become effective upon the satisfaction of the following conditions precedent, each in form and substance satisfactory to Agent and Lender:
(a)    Agent shall have received the Acknowledgement of Amendment and Reaffirmation of Guaranty and Grant of Security substantially in the form attached hereto as Exhibit B; and
(b)    Borrower shall have paid all reasonable and documented out-of-pocket fees and expenses incurred by the Agent and Lender in connection with this Amendment, including, but not limited to, all legal fees and expenses, payable pursuant to Section 11.11 of the Loan Agreement. 
4.    Representations and Warranties.  Borrower hereby represents and warrants to Agent and Lender as follows:
(a)    Representations and Warranties in the Agreement.  The representations and warranties of Borrower set forth in Section 5 of the Loan Agreement are true and correct in all material respects on and as of the Fifth Amendment Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date.
(b)    Authority, Etc.  The execution and delivery by Borrower of this Amendment and the performance by Borrower of all of its agreements and obligations under the Loan Agreement, the Warrant and the other Loan Documents, as amended hereby, are within the corporate or limited liability company authority, as applicable, of Borrower and have been duly authorized by all necessary corporate action on the part of Borrower.  With respect to Borrower, the execution and delivery by Borrower of this Amendment does not and will not require any registration with, consent or approval of, or notice to any Person (including any governmental authority).
(c)    Enforceability of Obligations.  This Amendment, the Loan Agreement, the Warrant and the other Loan Documents, as amended hereby, constitute the legal, valid and binding obligations of Borrower enforceable against Borrower in accordance with their terms, except as enforceability is limited by bankruptcy, insolvency, reorganization, moratorium, general equitable principles or other laws relating to or affecting generally the enforcement of, creditors’ rights and except to the extent that availability of the remedy of specific performance or injunctive relief is subject to the discretion of the court before which any proceeding therefor may be brought.
(d)    No Default.  Immediately after giving effect to this Amendment (i) no fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an Event of Default, and (ii) no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing.
5.    Reaffirmations.  Except as expressly provided in this Amendment, all of the terms and conditions of the Loan Agreement and the other Loan Documents remain in full force and effect.  Nothing contained in this Amendment shall in any way prejudice, impair or effect any rights or remedies of Lender under the Loan Agreement, the Debenture, the Warrant and the other Loan Documents.  Except as specifically amended hereby, Borrower hereby ratifies, confirms, and reaffirms all covenants contained in the Loan Agreement, the Warrant and the other Loan Documents.  The Loan Agreement, together with this Amendment, shall be read and construed as a single agreement.  All references in the Loan Documents to the Loan 

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Agreement or any other Loan Document shall hereafter refer to the Loan Agreement or such other Loan Document as amended hereby.
6.    Execution in Counterparts.  This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but which together shall constitute one instrument.
7.    Release.  In consideration of the agreements of Agent and each Lender contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower, on behalf of itself and its successors, assigns, and other legal representatives, hereby fully, absolutely, unconditionally and irrevocably releases, remises and forever discharges Agent and each Lender, and its successors and assigns, and its present and former shareholders, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents and other representatives (Agent, Lenders and all such other persons being hereinafter referred to collectively as the “Releasees” and individually as a “Releasee”), of and from all demands, actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of money, accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities whatsoever of every name and nature, known or unknown, suspected or unsuspected, both at law and in equity, which Borrower, or any of its successors, assigns, or other legal representatives may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or by reason of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to the day and date of this Amendment, including, without limitation, for or on account of, or in relation to, or in any way in connection with the Loan Agreement, or any of the other Loan Documents or transactions thereunder or related thereto.  Borrower understands, acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release.  Borrower agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final, absolute and unconditional nature of the release set forth above.
8.    Miscellaneous.  
(a)    THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, EXCLUDING CONFLICT OF LAWS PRINCIPLES THAT WOULD CAUSE THE APPLICATION OF LAWS OF ANY OTHER JURISDICTION.  
(b)    The captions in this Amendment are for convenience of reference only and shall not define or limit the provisions hereof.
(c)    This Amendment expresses the entire understanding of the parties with respect to the transactions contemplated hereby.  No prior negotiations or discussions shall limit, modify, or otherwise affect the provisions hereof.
(d)    Any determination that any provision of this Amendment or any application hereof is invalid, illegal or unenforceable in any respect and in any instance shall not affect the validity, legality, or enforceability of such provision in any other instance, or the validity, legality or enforceability of any other provisions of this Amendment.

[Signature Page Follows]

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IN WITNESS WHEREOF, Borrower, Lender and the Agent have duly executed and delivered this Amendment as of the day and year first above written.

BORROWER:

ALIMERA SCIENCES LIMITED 
	
		
	Signature:
	/s/ Richard S. Eiswirth, Jr.

	 
	 

	Print Name:
	Richard S. Eiswirth, Jr.

	 
	 

	Title:
	President and Chief Financial Officer

Accepted in Palo Alto, California:
LENDER:
HERCULES CAPITAL FUNDING TRUST 2014-1, a statutory trust created and existing under the laws of the State of Delaware 
By: Hercules Capital, Inc., its Servicer
	
		
	Signature:
	/s/ Zhuo Huang

	 
	 

	Print Name:
	Zhuo Huang

	Title:
	Assistant General Counsel

HERCULES CAPITAL, INC.
 
	
		
	Signature:
	/s/ Zhuo Huang

	 
	 

	Print Name:
	Zhuo Huang

	Title:
	Assistant General Counsel

AGENT:
HERCULES CAPITAL, INC.
 
	
		
	Signature:
	/s/ Zhuo Huang

	 
	 

	Print Name:
	Zhuo Huang

	Title:
	Assistant General Counsel

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EXHIBIT A
EXHIBIT F
COMPLIANCE CERTIFICATE
Hercules Capital, Inc.  
400 Hamilton Avenue, Suite 310 
Palo Alto, CA 94301
Reference is made to that certain Loan and Security Agreement dated April 24, 2014 and the Loan Documents (as defined therein) entered into in connection with such Loan and Security Agreement, all as may be amended from time to time (hereinafter referred to collectively as the “Loan Agreement”), by and among Hercules Capital, Inc. (the “Agent”), the several banks and other financial institutions or entities from time to time party thereto (collectively, the “Lender”), and ALIMERA SCIENCES LIMITED, a company registered under the laws of England and Wales under company number 08018355 and having its registered office at Centaur House, Ancells Road, Fleet, Hampshire, United Kingdom, GU51 2UJ (the “Company”) as Borrower.  All capitalized terms not defined herein shall have the same meaning as defined in the Loan Agreement.
The undersigned is an Officer of the Company, knowledgeable of all financial matters relating to the Consolidated Group, and is authorized to provide certification of information regarding the Company and the Consolidated Group; hereby certifies, in such capacity, that in accordance with the terms and conditions of the Loan Agreement, the Company is in compliance for the period ending ___________ of all covenants, conditions and terms and hereby reaffirms that all representations and warranties contained therein are true and correct on and as of the date of this Compliance Certificate with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, after giving effect in all cases to any standard(s) of materiality contained in the Loan Agreement as to such representations and warranties.  Attached are the required documents supporting the above certification.  The undersigned further certifies that these are prepared in accordance with GAAP (except for the absence of footnotes with respect to unaudited financial statement and subject to normal year end adjustments) and are consistent from one period to the next except as explained below.
REPORTING REQUIREMENT            REQUIRED            CHECK IF ATTACHED
Interim Financial Statements             Monthly within 30 days            _______    
Interim Financial Statements             Quarterly within 30 days            _______
Audited Financial Statements             FYE within 91 days            _______    
Aged Listings of A/R and A/P            Monthly within 14 days            _______
The undersigned hereby also confirms the below disclosed accounts represent all depository accounts and securities accounts presently open in the name of each member of the Consolidated Group and/or its Subsidiary/Affiliate, as applicable.
	
							
	 
	 
	Depository AC #
	Financial Institution
	Account Type (Depository / Securities)
	Last Month Ending Account Balance
	Purpose of Account

	BORROWER/GUARANTOR Name/Address:
	 

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	SUBSIDIARY / AFFILIATE COMPANY Name/Address
	 

	 
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Did the Consolidated Group at all times maintain Liquidity of not less than the Minimum Required Liquidity Amount?   Yes _________    No ________ (if no, an Event of Default has occurred)
Liqiduity as of the last day of month $____________________ (if such amount is less than $35,000,000, such month is a Testing Month)
Very Truly Yours,
ALIMERA SCIENCES LIMITED

Signature:    _______________________
Print Name:    _______________________
Title:        _______________________

6EX-10.18

 Exhibit 10.18 

YOGAWORKS, INC. 
 2017
INCENTIVE AWARD PLAN 
 RESTRICTED STOCK UNIT AWARD GRANT NOTICE 

YogaWorks, Inc. (the “Company”), pursuant to its 2017 Incentive Award Plan (as may be amended from time to time, the
“Plan”) hereby grants to the individual listed below (the “Participant”), an award of restricted stock units (the “RSUs”). Each RSU represents the right to receive one (1)
share of Common Stock, par value $0.001 per share, of the Company (each, a “Share”) in accordance with the terms and conditions hereof if applicable vesting conditions are satisfied. This award of RSUs is subject to all of
the terms and conditions set forth in this Restricted Stock Unit Grant Notice (the “Grant Notice”), the Restricted Stock Unit Award Agreement attached hereto as Exhibit A (together, the
“Agreement”) and the Plan, each of which is incorporated herein by reference. Each RSU is hereby granted in tandem with a corresponding Dividend Equivalent, as further described in the Agreement. Unless otherwise defined
herein, the terms defined in the Plan shall have the same defined meanings in this Agreement. 
  

			
	Participant:	  	
[                   
 ]

		
	Grant Date:	  	
[                   
 ]

		
	Vesting Commencement Date:	  	
[                   
 ]

		
	Total Number of RSUs:	  	
[                   
 ]

		
	Vesting Schedule:	  	[                    ]
		
	Termination of RSUs and Dividend Equivalents:	  	All RSUs that have not become vested as of the date of the Participant’s Termination of Service for any reason (after taking into account any accelerated vesting that may occur in connection with such Termination of Service,
if any), and all Dividend Equivalents associated with such RSUs (if any), in each case, will be automatically forfeited by the Participant upon such Termination of Service without payment of any consideration therefor.

 By his or her signature below, the Participant agrees to be bound by the terms and conditions of the Plan and
this Agreement. The Participant has reviewed this Agreement and the Plan in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully understands all provisions of this Grant Notice, the
Agreement and the Plan. The Participant hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Administrator upon any questions arising under the Plan or the Agreement. In addition, by signing below, the
Participant also agrees that the Company may satisfy any withholding obligations in accordance with Section 3.1 of this Agreement by withholding Shares otherwise issuable to the Participant upon vesting of the RSUs, or, in the
Administrator’s sole discretion, by using any other method permitted by Section 3.1 of the Agreement or Section 11.2 of the Plan. If the Participant is either married or in a registered domestic partnership, his or her spouse or
registered domestic partner has signed the Consent of Spouse or Registered Domestic Partner attached to this Grant Notice as Exhibit B. 
  

									
	YOGAWORKS, INC.	 		 	PARTICIPANT
					
	By:	 	  
	 		 	By:	 	  

	Print Name:	 	  
	 		 	Print Name:	 	  

	Title:	 	  
	 		 	Address:	 	  

	Address:	 	5780 Uplander Way	 		 		 	  

		 	Culver City, CA 90230	 		 	Email:	 	  

  
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 EXHIBIT A 

TO RESTRICTED STOCK UNIT GRANT NOTICE 

RESTRICTED STOCK UNIT AWARD AGREEMENT 

Pursuant to this Restricted Stock Unit Agreement (this “RSU Agreement”) and the Restricted Stock Unit Grant Notice to
which this RSU Agreement is attached (the “Grant Notice”), the Company hereby grants to the Participant under the Plan a number of RSUs indicated in the Grant Notice and their corresponding Dividend Equivalents. 

ARTICLE I. 
 GENERAL

 1.1    Plan Incorporated by Reference. Notwithstanding anything to the contrary anywhere else in this RSU
Agreement, the RSUs and tandem Dividend Equivalents granted hereby are subject to the terms, definitions and provisions of the Plan, which is incorporated herein by reference and which shall control in the event of any inconsistency between this RSU
Agreement and the Plan. 
 ARTICLE II. 

TERMS AND CONDITIONS OF RSUS AND DIVIDEND EQUIVALENTS 

2.1    Grant of RSUs. In consideration of the Participant’s past and/or continued employment with or service
to the Company or any Subsidiary and for other good and valuable consideration, effective as of the Grant Date set forth in the Grant Notice, the Company hereby grants to the Participant an award of RSUs, together with an equivalent number of tandem
Dividend Equivalents, upon the terms and conditions set forth in the Plan and this RSU Agreement. In consideration of this grant of RSUs, the Participant agrees to render faithful and efficient services to the Company or its affiliates. Unless and
until an RSU has vested in the manner set forth in the Grant Notice, the Participant will have no right to receive any Shares or other payment in respect of the RSUs. 

2.2    Vesting of RSUs. The RSUs shall vest and become nonforfeitable, if at all, in accordance with the terms and
conditions set forth in the Grant Notice. 
 2.3    Payment of RSUs. RSUs that become vested and nonforfeitable
in accordance with the Grant Notice will be paid to the Participant in Shares as soon as practicable after such RSUs vest, but in no event later than sixty (60) days after the applicable vesting date (with the actual payment date within such
period determined by the Administrator). Subject to Section 3.1 hereof, the Company shall deliver to the Participant (or any transferee permitted under Section 3.5 hereof) a number of Shares equal to the number of RSUs that vest on the
applicable vesting date (either by delivering one or more certificates for such Shares or by entering such Shares in book entry form, as determined by the Administrator in its sole discretion). Notwithstanding the foregoing, if Shares cannot be
issued pursuant to Section 11.4 of the Plan (or any successor provision thereto) or are delayed under Section 3.3 hereof, the Shares shall be issued pursuant to the preceding sentence as soon as administratively practicable after the
Administrator determines that Shares can be issued in accordance with such Section. 
 2.4    Forfeiture and
Termination of RSUs and Dividend Equivalents. The RSUs and Dividend Equivalents shall be subject to forfeiture and termination as provided in the Grant Notice. 

  
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 2.5    Dividend Equivalents. 

(a)    Each RSU granted hereunder is hereby granted in tandem with a corresponding Dividend Equivalent, which Dividend
Equivalent will remain outstanding from the Grant Date until the earlier of the payment or forfeiture of the RSU to which it corresponds. Pursuant to each outstanding Dividend Equivalent, the Participant shall be entitled to receive payments in an
amount equal to any dividends or other distributions declared, if any, on the Share underlying the RSU to which such Dividend Equivalent relates, payable in the same form and amounts as dividends or distributions are paid to each holder of a Share
(unless another form of payment is determined by the Administrator). Any such amounts, if any, shall be payable only if and to the extent that the RSU to which such Dividend Equivalent relates vests, and only as and when the Share underlying such
RSU is paid to the Participant in accordance with Section 2.3 above. 
 (b)    The Participant shall not be
entitled to any payment under a Dividend Equivalent with respect to any dividend with an applicable record date that occurs prior to the Grant Date or after the termination of such RSU for any reason, whether due to payment, forfeiture of the RSU or
otherwise. Dividend Equivalents and any amounts that may become distributable in respect thereof shall be treated separately from the RSUs and the rights arising in connection therewith for purposes of the designation of time and form of payments
required by Section 409A of the Code. 
 ARTICLE III. 

TAX WITHHOLDING; RESTRICTIONS 

3.1    Tax Withholding. Without limiting any other provision of the RSU Agreement, the Grant Notice or the Plan,
the Company and its Subsidiaries shall be entitled to withhold Shares otherwise deliverable in connection with the vesting of the RSUs or, in the Administrator’s discretion, to require a cash payment (or other form of payment determined in
accordance with Section 11.2 of the Plan) by or on behalf of the Participant and/or to deduct from other compensation payable to the Participant, in any case, any amounts required by federal, state or local tax law to be withheld with respect
to the grant, vesting and/or payment of the RSUs and/or the Dividend Equivalents. The Company shall have no obligation to make any payment in any form under this RSU Agreement or under any RSU or Dividend Equivalent issued in accordance herewith
unless and until such tax obligations have been satisfied. 
 3.2    Conditions to Issuance of Stock
Certificates. Any Shares deliverable under this RSU Agreement may be either previously authorized but unissued Shares, treasury Shares or issued Shares which have been purchased on the open market. Such Shares shall be fully paid and
nonassessable. The Company shall not be required to issue or deliver any certificates or make any book entries evidencing Shares issued under this RSU Agreement prior to fulfillment of the conditions set forth in Section 11.4 of the Plan.
Notwithstanding the foregoing, the issuance of such Shares shall not be delayed to the extent that such delay would result in a violation of Section 409A of the Code. In the event that the Company delays the issuance of any Shares because it
reasonably determines that the issuance of such Shares will violate federal securities laws or other applicable law, such issuance shall be made at the earliest date at which the Administrator reasonably determines that issuing such Shares will not
cause such violation, as required by Treasury Regulation Section 1.409A-2(b)(7)(ii). 

3.3    Rights as Stockholder. The holder of the RSUs and tandem Dividend Equivalents shall not be, nor have any of
the rights or privileges of, a stockholder of the Company, including, without limitation, voting rights and rights to dividends, in respect of any Shares issued under this RSU Agreement unless and until such Shares shall have been issued by the
Company to such holder (as 

  
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evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for a dividend or other right for which the
record date is prior to the date the Shares are issued, except as provided in Section 13.2 of the Plan. 
 ARTICLE IV. 

MISCELLANEOUS PROVISIONS 

4.1    Administration. The Administrator shall have the power to interpret the Plan and this RSU Agreement as
provided in the Plan. All interpretations and determinations made by the Administrator in good faith shall be final and binding upon the Participant, the Company and all other interested persons. 

4.2    Transferability of RSUs. Without limiting the generality of any other provision hereof, the RSUs and tandem
Dividend Equivalents shall be subject to the restrictions on transferability set forth in Section 11.3 of the Plan. 

4.3    Adjustments. The Participant acknowledges that the RSUs and tandem Dividend Equivalents are subject to
modification and termination in certain events as provided in this RSU Agreement and Article 13 of the Plan. 

4.4    Tax Consultation. The Participant understands that the Participant may suffer adverse tax consequences as a
result of the grant, vesting and/or payment of the RSUs and Dividend Equivalents, and/or with the disposition of the Shares underlying the RSUs. The Participant represents that the Participant has consulted with any tax consultants the Participant
deems advisable in connection with the purchase or disposition of such shares and that the Participant is not relying on the Company for any tax advice. 

4.5    Participant’s Representations. The Participant shall, if required by the Company, concurrently with
issuance of Shares under this RSU Agreement, make such written representations as are deemed necessary or appropriate by the Company and/or the Company’s counsel. 

4.6    Section 409A. This RSU Agreement and the Grant Notice shall be interpreted in accordance
with the requirements of Section 409A of the Code. The Administrator may adopt such amendments to the Plan, this RSU Agreement or the Grant Notice or adopt other policies and procedures (including amendments, policies and procedures with
retroactive effect), or take any other actions, as the Administrator determines are necessary or appropriate to comply with the requirements of Section 409A of the Code or an available exemption thereof; provided, however, that the
Administrator shall have no obligation to take any such action(s) or to indemnify any person from failing to do so. 

4.7    Not a Contract of Service Relationship. Nothing in this RSU Agreement or in the Plan shall confer upon the
Participant any right to continue to serve as an Employee, Director or Consultant or other service provider of the Company or any of its Subsidiaries or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries,
which rights are hereby expressly reserved, to discharge or terminate the services of the Participant at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the
Company or a Subsidiary and the Participant. 
 4.8    Limitations Applicable to Section 16 Persons.
Notwithstanding any other provision of the Plan or this RSU Agreement, if the Participant is subject to Section 16 of the Exchange Act, then the Plan, the RSUs and Dividend Equivalents and this RSU Agreement shall be subject to any additional

  
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limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange
Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, this RSU Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. 

4.9    Conformity to Securities Laws. The Participant acknowledges that the Plan and this RSU Agreement are
intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act, and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, as well as all applicable state
securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan and this RSU Agreement shall be administered, and the RSUs and Dividend Equivalents are granted, only in such a manner as to conform to such laws, rules and
regulations. To the extent permitted by applicable law, the Plan and this RSU Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 

4.10    Limitation on the Participant’s Rights. Participation in the Plan confers no rights or interests other
than as herein provided. This RSU Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. The Plan, in and of itself, has no assets. The Participant shall have
only the rights of a general unsecured creditor of the Company and its Subsidiaries with respect to amounts credited and benefits payable, if any, with respect to the Shares and/or RSUs issuable thereunder, and rights no greater than the right to
receive the Shares as a general unsecured creditor with respect to the RSUs, as and when payable hereunder. 

4.11    Successors and Assigns. The Company or any Subsidiary may assign any of its rights under this RSU Agreement
to single or multiple assignees, and this RSU Agreement shall inure to the benefit of the successors and assigns of the Company and its Subsidiaries. Subject to the restrictions on transfer set forth in this Article IV, this RSU Agreement shall be
binding upon the Participant and his or her heirs, executors, administrators, successors and assigns. 

4.12    Entire Agreement. The Plan, the Grant Notice and this RSU Agreement (including all Exhibits hereto, if any)
constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and the Participant with respect to the subject matter hereof. 

4.13    Notices. Any notice to be given under the terms of this RSU Agreement to the Company shall be addressed to
the Company in care of the Secretary of the Company at the Company’s principal office, and any notice to be given to the Participant shall be addressed to the Participant at the Participant’s last address reflected on the Company’s
records. Any notice shall be deemed duly given when sent via email or when sent by reputable overnight courier or by certified mail (return receipt requested) through the United States Postal Service. 

4.14    Governing Law. The laws of the State of Delaware shall govern the interpretation, validity, administration,
enforcement, and performance of the terms of this RSU Agreement regardless of the law that might be applied under principles of conflicts of laws. 

4.15    Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation
or construction of this RSU Agreement. 

  
 A-4 

 EXHIBIT B 

TO RESTRICTED STOCK UNIT GRANT NOTICE 

CONSENT OF SPOUSE OR REGISTERED DOMESTIC PARTNER 

I,
                                , spouse or registered domestic partner of
                                , have read and approve the Restricted Stock Unit
Grant Notice (the “Grant Notice”) to which this Consent of Spouse or Registered Domestic Partner is attached and the Restricted Stock Unit Agreement (the “Agreement”) attached to the Grant Notice. In
consideration of issuing to my spouse or registered domestic partner the Restricted Stock Units and Dividend Equivalents set forth in the Grant Notice, I hereby appoint my spouse or registered domestic partner as my attorney-in-fact in respect to the exercise of any rights under the Agreement and agree to be bound by the provisions of the Agreement insofar as I may have any rights in said Agreement and any Restricted
Stock Units, Dividend Equivalents or any shares of the common stock of YogaWorks, Inc. issued pursuant thereto under the community property laws or similar laws relating to marital property in effect in the state of our residence as of the date of
the signing of the foregoing Agreement. 
  

			
	 Dated:             
	 	
		 	  

Signature of Spouse or Registered Domestic Partner

  
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