Document:

EX-4.d

 Exhibit 4(d) 

[IF THE NOTE IS TO BE A GLOBAL SECURITY, INSERT - [This Note is a global Security within the meaning of the Indenture hereinafter referred to
and is registered in the name of a Depositary or a nominee of a Depositary. This Note is exchangeable for Notes registered in the name of a person other than the Depositary or its nominee only in the limited circumstances described in the Indenture,
and no transfer of this Note (other than a transfer of this Note as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary) may be registered except in
limited circumstances. 
 Unless this Note is presented by an authorized representative of The Depository Trust Company (55 Water Street,
New York, New York) to the issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depository
Trust Company and any payment hereon is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein.]] 

THE SUBORDINATED NOTES ARE NOT SAVINGS ACCOUNTS, DEPOSITS OR OTHER OBLIGATIONS OF ANY BANK OR NONBANK SUBSIDIARY OF NEW YORK COMMUNITY
BANCORP, INC. AND ARE NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION, BANK INSURANCE FUND OR ANY OTHER GOVERNMENT AGENCY. 
  

					
	REGISTERED	 		 	REGISTERED
	NUMBER R-(●)	 		 	 $(●)

			
		 	NEW YORK COMMUNITY BANCORP, INC.	 	
			
		 	(●)% SUBORDINATED NOTES DUE (●)	 	
			
		 		 	CUSIP: (●)

 New York Community Bancorp, Inc., a Delaware corporation (hereinafter called the “Company”, which
term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of $(●) on (●), and to pay interest thereon
from (●), or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the (●) day of (●) and (●) in each year, commencing (●), at the
rate of (●)% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the
Person in whose name this Subordinated Note (or one or more Predecessor Subordinated Notes) is registered at the close of business on the (●) day of (●) and the (●) day of (●) in each year; provided,
however, that in case of a Subordinated Note originally issued between a Regular Record Date and the Interest Payment Date or on an Interest Payment Date relating to such Regular Record Date, interest for the period beginning on the date of issue
and ending on such Interest Payment Date shall be paid on the next succeeding Interest Payment Date to the Person in whose name this Subordinated Note (or one or more Predecessor Subordinated Notes) is registered at the close of business on the
Regular Record Date with respect to such succeeding Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the
Person in whose name this Subordinated Note (or one or more Predecessor Subordinated Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall
be given to Holders of Subordinated Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the
Subordinated Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months.

 Payment of the principal of (and premium, if any) and any such interest on this Subordinated Note will be made at the offices or agencies
of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided,
however, that at the option of the Company payment of interest may be made by check drawn upon any Paying Agent and mailed on or prior to an Interest Payment Date to the address of the Person entitled thereto as such address shall appear in the
Security Register. 

 This Subordinated Note is one of a duly authorized issue of securities of the Company
(herein called the “Securities”), issued and to be issued under an Indenture dated as of (●), (●) (the “Indenture”), between the Company and Wilmington Trust, National Association, a Delaware banking corporation
(herein called the “Trustee”, which term includes any successor Trustee under the Indenture), to which Indenture and all Indentures supplemental thereto reference is hereby made for a statement of the respective rights of the Company, the
Trustee and the Holders of the Securities, and the terms upon which the Securities are, and are to be, authenticated and delivered. This Subordinated Note is one of a series of Subordinated Notes of the Company designated as its % Subordinated Notes
Due (herein called the “Subordinated Notes”), initially limited in aggregate principal amount to $(●). 
 Upon any
distribution of assets of the Company upon dissolution, winding up, liquidation or reorganization, the payment of the principal of, premium, if any, and interest on, the Subordinated Notes is to be subordinated in right of payment to the extent
provided in the Indenture to the prior payment in full of all Senior Indebtedness of the Company (each as defined in the Indenture). Each Holder of the Subordinated Notes, by the acceptance thereof, agrees to and shall be bound by such provisions of
the Indenture. The Subordinated Notes may not be redeemed prior to maturity. 
 As provided in the Indenture and subject to certain
limitations set forth therein, the transfer of this Subordinated Note may be registered in the Security Register of the Company upon surrender of this Subordinated Note for registration of transfer at the office or agency of the Company in any place
where the principal of (and premium, if any) and interest on this Subordinated Note are payable, duly endorsed by, or accompanied by, a written instrument of transfer in form satisfactory to the Company, duly executed by the registered Holder hereof
or his attorney duly authorized in writing, and thereupon one or more new Subordinated Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Subordinated Notes are issuable only as registered Subordinated Notes without coupons in minimum denominations of $100,000 and integral
multiples of $1,000. As provided in the Indenture, and subject to certain limitations set forth therein, this Subordinated Note is exchangeable for a like aggregate principal amount of Subordinated Notes of different authorized denominations, as
requested by the Holder surrendering the same. 
 No service charge will be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to
due presentment for registration of transfer of this Subordinated Note, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Subordinated Note is registered as the owner hereof for the purpose
of receiving payment as herein provided and for all other purposes, whether or not this Subordinated Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

If an Event of Default with respect to the Subordinated Notes shall occur and be continuing, the principal hereof may be declared due and
payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the trustee under each series to
be affected with the consent of the Holders of 66 2/3% in principal amount of the Outstanding Securities of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal
amount of the Outstanding Securities of any series, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Subordinated Note shall be conclusive and binding upon such Holder and upon all future Holders of this Subordinated Note and of any Subordinated Notes issued upon the registration of
transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent or waiver is made upon this Subordinated Note. 

No reference herein to the Indenture and no provision of this Subordinated Note or of the Indenture shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest, if any, on this Subordinated Note at the times, place and rate, and in the coin and currency, herein prescribed. 

 All terms used in this Subordinated Note which are defined in the Indenture shall have the
meanings assigned to them in the Indenture. 
 Unless the certificate of authentication hereon has been executed by the Trustee, directly or
through an authenticating agent, by the manual signature of an authorized officer, this Subordinated Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated: 
  

			
	New York Community Bancorp, Inc.
		
	By:	 	  

		 	President and Chief Executive Officer

 This is one of the Securities of the series designated herein referred to in the within-mentioned
Indenture. 
  

			
	Wilmington Trust, National Association, not in its
	individual capacity, but solely as Trustee
		
	By:	 	  

		 	Authorized Officer

 ASSIGNMENT 

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto. PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 

 
  

(Name and address of assignee, including zip code, must be printed or typewritten) 
  

 
 the within Subordinated Note, and all rights
thereunder, hereby irrevocably constituting and appointing 
  
  

Attorney to transfer said Subordinated Note on the books of the within Company, with full power of substitution in the premises. 

 

							
	Dated:	 	  
	 		 	  

  

			
	NOTICE:	  	The signature to this assignment must correspond with the name as it appears up on the face of the within or attached Subordinated Note in every particular, without alteration or enlargement or any change whatever.Exhibit 4.2

 

APPLIED THERAPEUTICS, INC.

 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT

 

November 5, 2018

 

 

TABLE OF CONTENTS

 

	
 
    	
 
    	
 
    	
Page
    
	
 
    	
 
    	
 
    	
 
    
	
1.
    	
Definitions
    	
1
    
	
 
    	
 
    	
 
    	
 
    
	
2.
    	
Registration Rights
    	
4
    
	
 
    	
2.1
    	
Demand Registration
    	
4
    
	
 
    	
2.2
    	
Company Registration
    	
6
    
	
 
    	
2.3
    	
Underwriting   Requirements
    	
6
    
	
 
    	
2.4
    	
Obligations of the   Company
    	
7
    
	
 
    	
2.5
    	
Furnish Information
    	
9
    
	
 
    	
2.6
    	
Expenses of   Registration
    	
9
    
	
 
    	
2.7
    	
Delay of Registration
    	
9
    
	
 
    	
2.8
    	
Indemnification
    	
9
    
	
 
    	
2.9
    	
Reports Under Exchange   Act
    	
12
    
	
 
    	
2.10
    	
Limitations on   Subsequent Registration Rights
    	
12
    
	
 
    	
2.11
    	
“Market Stand-off”   Agreement
    	
12
    
	
 
    	
2.12
    	
Restrictions on   Transfer
    	
13
    
	
 
    	
2.13
    	
Termination of   Registration Rights
    	
14
    
	
 
    	
 
    	
 
    	
 
    
	
3.
    	
Information and Observer   Rights
    	
15
    
	
 
    	
3.1
    	
Delivery of Financial   Statements
    	
15
    
	
 
    	
3.2
    	
Inspection
    	
16
    
	
 
    	
3.3
    	
Termination of   Information Rights
    	
16
    
	
 
    	
3.4
    	
Confidentiality
    	
16
    
	
 
    	
 
    	
 
    	
 
    
	
4.
    	
Rights to Future Stock   Issuances
    	
17
    
	
 
    	
4.1
    	
Right of First Offer
    	
17
    
	
 
    	
4.2
    	
Termination
    	
18
    
	
 
    	
 
    	
 
    	
 
    
	
5.
    	
Additional Covenants
    	
18
    
	
 
    	
5.1
    	
Employee Agreements
    	
18
    
	
 
    	
5.2
    	
Employee Stock
    	
18
    
	
 
    	
5.3
    	
Matters Requiring   Investor Director Approval
    	
19
    
	
 
    	
5.4
    	
Insurance
    	
20
    
	
 
    	
5.5
    	
Board Matters
    	
20
    
	
 
    	
5.6
    	
Successor   Indemnification
    	
20
    

 

i

 

	
 
    	
5.7
    	
Termination of   Covenants
    	
20
    
	
 
    	
 
    	
 
    	
 
    
	
6.
    	
Miscellaneous
    	
20
    
	
 
    	
6.1
    	
Successors and Assigns
    	
20
    
	
 
    	
6.2
    	
Governing Law
    	
21
    
	
 
    	
6.3
    	
Counterparts
    	
21
    
	
 
    	
6.4
    	
Titles and Subtitles
    	
21
    
	
 
    	
6.5
    	
Notices
    	
21
    
	
 
    	
6.6
    	
Amendments and Waivers
    	
21
    
	
 
    	
6.7
    	
Severability
    	
22
    
	
 
    	
6.8
    	
Aggregation of Stock
    	
22
    
	
 
    	
6.9
    	
Additional Investors
    	
22
    
	
 
    	
6.10
    	
Entire Agreement
    	
22
    
	
 
    	
6.11
    	
Dispute Resolution
    	
23
    
	
 
    	
6.12
    	
Delays or Omissions
    	
23
    
	
 
    	
6.13
    	
Acknowledgment
    	
23
    
	
 
    	
6.14
    	
Effect on Prior   Agreement
    	
24
    
	
 
    	
 
    	
 
    	
 
    
	
Schedule A
    	
-       Schedule of Investors
    	
 
    

 

ii

 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT

 

THIS AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT is made as of the 5th day of November, 2018, by and among Applied Therapeutics, Inc., a Delaware corporation (the “Company”), each of the investors listed on Schedule A hereto, each of which is referred to in this Agreement as an “Investor,” any Additional Purchaser (as defined in the Purchase Agreement) that becomes a party to this Agreement in accordance with Section 6.9 hereof, and Shoshana Shendelman (the “Founder”).

 

RECITALS

 

WHEREAS, certain of the Investors (the “Existing Investors”) hold shares of the Company’s Series A Preferred Stock and/or shares of Common Stock issued upon conversion thereof and possess registration rights, information rights, rights of first offer, and other rights pursuant to that certain Investors’ Rights Agreement dated as of January 26, 2017, by and among the Company and such Existing Investors (the “Prior Agreement”); and

 

WHEREAS, the Existing Investors are holders of a majority of the Registrable Securities of the Company (as defined in the Prior Agreement), and desire to amend and restate the Prior Agreement in its entirety and to accept the rights created pursuant to this Agreement in lieu of the rights granted to them under the Prior Agreement; and

 

WHEREAS, certain of the Investors are parties to that certain Series B Preferred Stock Purchase Agreement of even date herewith by and among the Company and such Investors (as the same may be amended and/or restated from time to time, the “Purchase Agreement”), under which certain of the Company’s and such Investors’ obligations are conditioned upon the execution and delivery of this Agreement by such Investors, Existing Investors holding a majority of the Registrable Securities, and the Company;

 

NOW, THEREFORE, the Company and the Existing Investors hereby agree that the Prior Agreement shall be amended and restated, and the parties to this Agreement further agree as follows:

 

1.             Definitions.  For purposes of this Agreement:

 

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 now or hereafter existing that is controlled by one or more general partners or managing members of, or shares the same management company with, such Person.

 

1.2          “Common Stock” means shares of the Company’s common stock, par value $0.0001 per share.

 

1.3          “Damages” means any loss, damage, claim or liability (joint or several) to which a party hereto may become subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action in respect thereof) arises

 

 

out of or is based upon (i) any untrue statement or alleged untrue statement of a material fact contained in any registration statement of the Company, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto; (ii) an omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation by the indemnifying party (or any of its agents or Affiliates) of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any state securities law.

 

1.4          “Derivative Securities” means any securities or rights convertible into, or exercisable or exchangeable for (in each case, directly or indirectly), Common Stock, including options and warrants.

 

1.5          “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

1.6          “Excluded Registration” means (i) a registration relating to the sale or grant of securities to employees of the Company or a subsidiary pursuant to a stock option, stock purchase, equity incentive or similar plan; (ii) a registration relating to an SEC Rule 145 transaction; (iii) a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities; or (iv) a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered.

 

1.7          “FOIA Party” means a Person that, in the determination of the Board of Directors, may be subject to, and thereby required to disclose non-public information furnished by or relating to the Company under, the Freedom of Information Act, 5 U.S.C. 552 (“FOIA”), any state public records access law, any state or other jurisdiction’s laws similar in intent or effect to FOIA, or any other similar statutory or regulatory requirement.

 

1.8          “Form S-1” means such form under the Securities Act as in effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the SEC.

 

1.9          “Form S-3” means such form under the Securities Act as in effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC that permits incorporation of substantial information by reference to other documents filed by the Company with the SEC.

 

1.10        “Founder Registrable Securities” means (i) the shares of Common Stock held by the Founder, and (ii) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for, or in replacement of, such shares.

 

1.11        “GAAP” means generally accepted accounting principles in the United States, as in effect from time to time.

 

2

 

1.12        “Holder” means any holder of Registrable Securities who is a party to this Agreement.

 

1.13        “Immediate Family Member” means a child, stepchild, grandchild,

 

1.14        parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, of a natural person referred to herein.

 

1.15        “Initiating Holders” means, collectively, Holders who properly initiate a registration request under this Agreement.

 

1.16        “IPO” means the Company’s first underwritten public offering of its Common Stock under the Securities Act.

 

1.17        “Major Investor” means any Investor that, individually or together with such Investor’s Affiliates, holds at least 12,087 shares of Registrable Securities (as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification effected after the date hereof).

 

1.18        “New Securities” means, collectively, equity securities of the Company, whether or not currently authorized, as well as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or exchangeable into or exercisable for such equity securities.

 

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

 

1.20        “Preferred Directors” means the Series A Director and the Series B Director.

 

1.21        “Preferred Stock” means, collectively, shares of the Company’s Series A Preferred Stock and Series B Preferred Stock.

 

1.22        “Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of the Preferred Stock; (ii) any Common Stock, or any Common Stock issued or issuable (directly or indirectly) upon conversion and/or exercise of any other securities of the Company, acquired by the Investors after the date hereof; (iii) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clauses (i) and (ii) above and (iv) the Founder Registrable Securities, provided, however, that such Founder Registrable Securities shall not be deemed Registrable Securities and the Founder shall not be deemed a Holder for purposes of Section 2.1 (and any other applicable section with respect to registrations under Section 2.1) and Section 2.10; excluding in all cases, however, any Registrable Securities sold by a Person in a transaction in which the applicable rights under this Agreement are not assigned pursuant to Section 6.1, and excluding for purposes of Section 2 any shares for which registration rights have terminated pursuant to Section 2.13 of this Agreement.

 

3

 

1.23        “Registrable Securities then outstanding” means the number of shares determined by adding the number of shares of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly) pursuant to then exercisable and/or convertible securities that are Registrable Securities.

 

1.24        “Restricted Securities” means the securities of the Company required to bear the legend set forth in Section 2.12(b) hereof.

 

1.25        “SEC” means the Securities and Exchange Commission.

 

1.26        “SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act.

 

1.27        “SEC Rule 145” means Rule 145 promulgated by the SEC under the

 

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

 

1.29        “Selling Expenses” means all underwriting discounts, selling commissions, and stock transfer taxes applicable to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except for the fees and disbursements of the Selling Holder Counsel borne and paid by the Company as provided in Section 2.6.

 

1.30        “Series A Director” means any director of the Company that the holders of record of the Series A Preferred Stock are entitled to elect pursuant to the Company’s Certificate of Incorporation.

 

1.31        “Series A Preferred Stock” means shares of the Company’s Series A Preferred Stock, par value $0.0001 per share.

 

1.32        “Series B Director” means any director of the Company that the holders of record of the Series B Preferred Stock are entitled to elect pursuant to the Company’s Certificate of Incorporation.

 

1.33        “Series B Preferred Stock” means shares of the Company’s Series B Preferred Stock, par value $0.0001 per share.

 

2.             Registration Rights.  The Company covenants and agrees as follows:

 

2.1          Demand Registration.

 

(a)           Form S-1 Demand.  If at any time after the earlier of (i) five (5) years after the date of this Agreement or (ii) six (6) months after the effective date of the registration statement for the IPO, the Company receives a request from Holders of a majority of the Registrable Securities then outstanding that the Company file a Form S-1 registration statement with respect to the Registrable Securities then outstanding having an anticipated aggregate offering price, net of Selling Expenses, of at least $15,000,000, then the Company shall (x) within ten (10) days after the date such request is given, give notice thereof (the “Demand Notice”) to all Holders

 

4

 

other than the Initiating Holders; and (y) as soon as practicable, and in any event within sixty (60) days after the date such request is given by the Initiating Holders, file a Form S-1 registration statement under the Securities Act covering all Registrable Securities that the Initiating Holders requested to be registered and any additional Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Section 2.1(c) and Section 2.3.

 

(b)           Form S-3 Demand.  If at any time when it is eligible to use a Form S-3 registration statement, the Company receives a request from Holders of at least thirty percent (30%) of the Registrable Securities then outstanding that the Company file a Form S-3 registration statement with respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price, net of Selling Expenses, of at least $3,000,000, then the Company shall (i) within ten (10) days after the date such request is given, give a Demand Notice to all Holders other than the Initiating Holders; and (ii) as soon as practicable, and in any event within forty-five (45) days after the date such request is given by the Initiating Holders, file a Form S-3 registration statement under the Securities Act covering all Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Section 2.1(c) and Section 2.3.

 

(c)           Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting a registration pursuant to this Section 2.1 a certificate signed by the Company’s chief executive officer stating that in the good faith judgment of the Company’s Board of Directors it would be materially detrimental to the Company and its stockholders for such registration statement to either become effective or remain effective for as long as such registration statement otherwise would be required to remain effective, because such action would (i) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving the Company; (ii) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential; or (iii) render the Company unable to comply with requirements under the Securities Act or Exchange Act, then the Company shall have the right to defer taking action with respect to such filing, and any time periods with respect to filing or effectiveness thereof shall be tolled correspondingly, for a period of not more than one hundred twenty (120) days after the request of the Initiating Holders is given; provided, however, that the Company may not invoke this right more than once in any twelve (12) month period; and provided further that the Company shall not register any securities for its own account or that of any other stockholder during such one hundred twenty (120) day period other than an Excluded Registration.

 

(d)           The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Section 2.1(a) (i) during the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is one hundred eighty (180) days after the effective date of, a Company-initiated registration, provided, that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; (ii) after the Company has effected one registration pursuant to Section 2.1(a); or (iii) if the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request

 

5

 

made pursuant to Section 2.1(b).  The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Section 2.1(b) (i) during the period that is thirty (30) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is ninety (90) days after the effective date of, a Company-initiated registration, provided, that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; or (ii) if the Company has effected two registrations pursuant to Section 2.1(b) within the twelve (12) month period immediately preceding the date of such request.  A registration shall not be counted as “effected” for purposes of this Section 2.1(d) until such time as the applicable registration statement has been declared effective by the SEC, unless the Initiating Holders withdraw their request for such registration (other than as a result of a material adverse change to the Company), elect not to pay the registration expenses therefor, and forfeit their right to one demand registration statement pursuant to Section 2.6, in which case such withdrawn registration statement shall be counted as “effected” for purposes of this Section 2.1(d).

 

2.2          Company Registration.  If the Company proposes to register (including, for this purpose, a registration effected by the Company for stockholders other than the Holders) any of its Common Stock under the Securities Act in connection with the public offering of such securities solely for cash (other than in an Excluded Registration), the Company shall, at such time, promptly give each Holder notice of such registration.  Upon the request of each Holder given within twenty (20) days after such notice is given by the Company, the Company shall, subject to the provisions of Section 2.3, cause to be registered all of the Registrable Securities that each such Holder has requested to be included in such registration.  The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.2 before the effective date of such registration, whether or not any Holder has elected to include Registrable Securities in such registration.  The expenses (other than Selling Expenses) of such withdrawn registration shall be borne by the Company in accordance with Section 2.6.

 

2.3          Underwriting Requirements.

 

(a)           If, pursuant to Section 2.1, the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Section 2.1, and the Company shall include such information in the Demand Notice.  The underwriter(s) will be selected by the Company and shall be reasonably acceptable to a majority in interest of the Initiating Holders.  In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein.  All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided in Section 2.4(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting.  Notwithstanding any other provision of this Section 2.3, if the managing underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among such Holders of Registrable Securities, including the Initiating Holders, in proportion (as nearly as practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all such selling

 

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Holders; provided, however, that the number of Registrable Securities held by the Holders to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting.  To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest 100 shares.

 

(b)           In connection with any offering involving an underwriting of shares of the Company’s capital stock pursuant to Section 2.2, the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of the underwriting as agreed upon between the Company and its underwriters, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize the success of the offering by the Company.  If the total number of securities, including Registrable Securities, requested by stockholders to be included in such offering exceeds the number of securities to be sold (other than by the Company) that the underwriters in their reasonable discretion determine is compatible with the success of the offering, then the Company shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company in their sole discretion determine will not jeopardize the success of the offering.  If the underwriters determine that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be allocated among the selling Holders in proportion (as nearly as practicable to) the number of Registrable Securities owned by each selling Holder or in such other proportions as shall mutually be agreed to by all such selling Holders.  To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest 100 shares.  Notwithstanding the foregoing, in no event shall (i) the number of Registrable Securities included in the offering be reduced unless all other securities (other than securities to be sold by the Company) are first entirely excluded from the offering, or (ii) the number of Registrable Securities included in the offering be reduced below thirty percent (30%) of the total number of securities included in such offering, unless such offering is the IPO, in which case the selling Holders may be excluded further if the underwriters make the determination described above and no other stockholder’s securities are included in such offering.  For purposes of the provision in this Section 2.3(b) concerning apportionment, for any selling Holder that is a partnership, limited liability company, or corporation, the partners, members, retired partners, retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners, members, and retired members and any trusts for the benefit of any of the foregoing Persons, shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number of Registrable Securities owned by all Persons included in such “selling Holder,” as defined in this sentence.

 

2.4          Obligations of the Company.  Whenever required under this Section 2 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible:

 

(a)           prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its commercially reasonable efforts to cause such registration statement to become effective and, upon the request of the Holders of a majority of

 

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the Registrable Securities registered thereunder, keep such registration statement effective for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however, that (i) such one hundred twenty (120) day period shall be extended for a period of time equal to the period the Holder refrains, at the request of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in such registration, and (ii) in the case of any registration of Registrable Securities on Form S-3 that are intended to be offered on a continuous or delayed basis, subject to compliance with applicable SEC rules, such one hundred twenty (120) day period shall be extended for up to 180 days, if necessary, to keep the registration statement effective until all such Registrable Securities are sold;

 

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

 

(c)           furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary prospectus, as required by the Securities Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their Registrable Securities;

 

(d)           use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; provided that the Company shall not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;

 

(e)           in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the underwriter(s) of such offering;

 

(f)            use its commercially reasonable efforts to cause all such Registrable Securities covered by such registration statement to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities issued by the Company are then listed;

 

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

 

(h)           promptly make available for inspection by the selling Holders, any managing underwriter(s) participating in any disposition pursuant to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling Holders, all financial and other records, pertinent corporate documents, and properties of the Company, and cause the Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by any such seller, underwriter,

 

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attorney, accountant, or agent, in each case, as necessary or advisable to verify the accuracy of the information in such registration statement and to conduct appropriate due diligence in connection therewith;

 

(i)            notify each selling Holder, promptly after the Company receives notice thereof, of the time when such registration statement has been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed; and

 

(j)            after such registration statement becomes effective, notify each selling Holder of any request by the SEC that the Company amend or supplement such registration statement or prospectus.

 

2.5          Furnish Information.  It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as is reasonably required to effect the registration of such Holder’s Registrable Securities.

 

2.6          Expenses of Registration.  All expenses (other than Selling Expenses) incurred in connection with registrations, filings, or qualifications pursuant to Section 2, including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company; and the reasonable fees and disbursements, not to exceed $25,000.00 of one counsel for the selling Holders (“Selling Holder Counsel”), shall be borne and paid by the Company; provided, however, that the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Section 2.1 if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all selling Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one registration pursuant to Section 2.1(a) or Section 2.1(b), as the case may be; provided further that if, at the time of such withdrawal, the Holders shall have learned of a material adverse change in the condition, business, or prospects of the Company from that known to the Holders at the time of their request and have withdrawn the request with reasonable promptness after learning of such information then the Holders shall not be required to pay any of such expenses and shall not forfeit their right to one registration pursuant to Section 2.1(a) or Section 2.1(b).  All Selling Expenses relating to Registrable Securities registered pursuant to this Section 2 shall be borne and paid by the Holders pro rata on the basis of the number of Registrable Securities registered on their behalf.

 

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

 

2.8          Indemnification.  If any Registrable Securities are included in a registration statement under this Section 2:

 

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(a)           To the extent permitted by law, the Company will indemnify and hold harmless each selling Holder, and the partners, members, officers, directors, and stockholders of each such Holder; legal counsel and accountants for each such Holder; any underwriter (as defined in the Securities Act) for each such Holder; and each Person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter, controlling Person, or other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 2.8(a) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable for any Damages to the extent that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of any such Holder, underwriter, controlling Person, or other aforementioned Person expressly for use in connection with such registration.

 

(b)           To the extent permitted by law, each selling Holder, severally and not jointly, will indemnify and hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the Company within the meaning of the Securities Act, legal counsel and accountants for the Company, any underwriter (as defined in the Securities Act), any other Holder selling securities in such registration statement, and any controlling Person of any such underwriter or other Holder, against any Damages, in each case only to the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such selling Holder expressly for use in connection with such registration; and each such selling Holder will pay to the Company and each other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 2.8(b) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; and provided further that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under Sections 2.8(b) and 2.8(d) exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of fraud or willful misconduct by such Holder.

 

(c)           Promptly after receipt by an indemnified party under this Section 2.8 of notice of the commencement of any action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.8, give the indemnifying party notice of the commencement thereof.  The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires, participate jointly with any other indemnifying party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the

 

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counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such action.  The failure to give notice to the indemnifying party within a reasonable time of the commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.8, to the extent that such failure materially prejudices the indemnifying party’s ability to defend such action.  The failure to give notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.8.

 

(d)           To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either (i) any party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Section 2.8 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Section 2.8 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any party hereto for which indemnification is provided under this Section 2.8, then, and in each such case, such parties will contribute to the aggregate losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the indemnified party in connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations.  The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however, that, in any such case, (x) no Holder will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement, and (y) no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation; and provided further that in no event shall a Holder’s liability pursuant to this Section 2.8(d), when combined with the amounts paid or payable by such Holder pursuant to Section 2.8(b), exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of willful misconduct or fraud by such Holder.

 

(e)           Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control.

 

(f)            Unless otherwise superseded by an underwriting agreement entered into in connection with the underwritten public offering, the obligations of the Company and Holders under this Section 2.8 shall survive the completion of any offering of Registrable Securities in a registration under this Section 2, and otherwise shall survive the termination of this Agreement.

 

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2.9          Reports Under Exchange Act.  With a view to making available to the Holders the benefits of SEC Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company shall:

 

(a)           make and keep available adequate current public information, as those terms are understood and defined in SEC Rule 144, at all times after the effective date of the registration statement filed by the Company for the IPO;

 

(b)           use commercially reasonable efforts to file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act (at any time after the Company has become subject to such reporting requirements); and

 

(c)           furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) to the extent accurate, a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety

 

(90) days after the effective date of the registration statement filed by the Company for the IPO), the Securities Act, and the Exchange Act (at any time after the Company has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after the Company so qualifies); (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company; and (iii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such securities without registration (at any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant to Form S-3 (at any time after the Company so qualifies to use such form).

 

2.10        Limitations on Subsequent Registration Rights.  From and after the date of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company that would (i) provide to such holder or prospective holder the right to include securities in any registration on other than either a pro rata basis with respect to the Registrable Securities or on a subordinate basis after all Holders have had the opportunity to include in the registration and offering all shares of Registrable Securities that they wish to so include or (ii) allow such holder or prospective holder to initiate a demand for registration of any securities held by such holder or prospective holder; provided that this limitation shall not apply to any additional Investor who becomes a party to this Agreement in accordance with Section 6.9.

 

2.11        “Market Stand-off” Agreement.  Each Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the registration by the Company of shares of its Common Stock or any other equity securities under the Securities Act on a registration statement on Form S-1, and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days (plus up to an additional thirty-four (34) days to the

 

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extent requested by the underwriters in order to facilitate compliance with FINRA Rule 2711(f)(4) or NYSE Rule 472(f)(4) or any successor or similar rule or regulation)) in the case of an the IPO), (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock (whether such shares or any such securities are then owned by the Holder or are thereafter acquired) or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise.  The foregoing provisions of this Section 2.11 (x) shall apply only to the IPO, (y) shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, or the transfer of any shares to any trust for the direct or indirect benefit of the Holder or the immediate family of the Holder, provided that the trustee of the trust agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition for value, and (z) shall be applicable to the Holders only if all officers, directors, and all stockholders individually owning more than one percent (1%) of the Company’s outstanding Common Stock (after giving effect to conversion into Common Stock of all outstanding Preferred Stock) are subject to similar restrictions.  The underwriters in connection with such registration are intended third-party beneficiaries of this Section 2.11 and shall have the right, power, and authority to enforce the provisions hereof as though they were a party hereto.  Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are consistent with this Section 2.11 or that are necessary to give further effect thereto.  Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata to all Holders subject to such agreements, based on the number of shares subject to such agreements.

 

2.12        Restrictions on Transfer.

 

(a)           The Preferred Stock and the Registrable Securities shall not be sold, pledged, or otherwise transferred, and the Company shall not recognize and shall issue stop-transfer instructions to its transfer agent with respect to any such sale, pledge, or transfer, except upon the conditions specified in this Agreement, which conditions are intended to ensure compliance with the provisions of the Securities Act.  A transferring Holder will cause any proposed purchaser, pledgee, or transferee of the Preferred Stock and the Registrable Securities held by such Holder to agree to take and hold such securities subject to the provisions and upon the conditions specified in this Agreement.

 

(b)           Each certificate or instrument representing (i) the Preferred Stock, (ii) the Registrable Securities, and (iii) any other securities issued in respect of the securities referenced in clauses (i) and (ii), upon any stock split, stock dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Section 2.12(c)) be stamped or otherwise imprinted with a legend substantially in the following form:

 

THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933.  SUCH

 

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SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT.

 

THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.

 

The Holders consent to the Company making a notation in its records and giving instructions to any transfer agent of the Restricted Securities in order to implement the restrictions on transfer set forth in this Section 2.12.

 

(c)           The holder of each certificate representing Restricted Securities, by acceptance thereof, agrees to comply in all respects with the provisions of this Section 2.  Before any proposed sale, pledge, or transfer of any Restricted Securities, unless there is in effect a registration statement under the Securities Act covering the proposed transaction, the Holder thereof shall give notice to the Company of such Holder’s intention to effect such sale, pledge, or transfer.  Each such notice shall describe the manner and circumstances of the proposed sale, pledge, or transfer in sufficient detail and, if reasonably requested by the Company, shall be accompanied at such Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose legal opinion shall, be reasonably satisfactory to the Company, addressed to the Company, to the effect that the proposed transaction may be effected without registration under the Securities Act; (ii) a “no action” letter from the SEC to the effect that the proposed sale, pledge, or transfer of such Restricted Securities without registration will not result in a recommendation by the staff of the SEC that action be taken with respect thereto; or (iii) any other evidence reasonably satisfactory to counsel to the Company to the effect that the proposed sale, pledge, or transfer of the Restricted Securities may be effected without registration under the Securities Act, whereupon the Holder of such Restricted Securities shall be entitled to sell, pledge, or transfer such Restricted Securities in accordance with the terms of the notice given by the Holder to the Company.  The Company will not require such a legal opinion or “no action” letter (x) in any transaction in compliance with SEC Rule 144 or (y) in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder for no consideration; provided that each transferee agrees in writing to be subject to the terms of this Section 2.12.  Each certificate or instrument evidencing the Restricted Securities transferred as above provided shall bear, except if such transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth in Section 2.12(b), except that such certificate shall not bear such restrictive legend if, in the opinion of counsel for such Holder and the Company, such legend is not required in order to establish compliance with any provisions of the Securities Act.

 

2.13        Termination of Registration Rights.  The right of any Holder to request registration or inclusion of Registrable Securities in any registration pursuant to Section 2.1 or Section 2.2 shall terminate upon the earliest to occur of:

 

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(a)           the closing of a Deemed Liquidation Event, as such term is defined in the Company’s Certificate of Incorporation;

 

(b)           such time as Rule 144 or another similar exemption under the Securities Act is available for the sale of all of such Holder’s shares without limitation during a three-month period without registration; and

 

(c)           the third anniversary of the IPO.

 

3.             Information and Observer Rights.

 

3.1          Delivery of Financial Statements.  The Company shall deliver to each Major Investor, provided that the Board of Directors has not reasonably determined that such Major Investor is a competitor of the Company:

 

(a)           as soon as practicable, but in any event within one hundred twenty

 

(120) days after the end of each fiscal year of the Company, (i) a balance sheet as of the end of such year, (ii) statements of income and of cash flows for such year, and (iii) a statement of stockholders’ equity as of the end of such year;

 

(b)           as soon as practicable, but in any event within forty-five (45) days after the end of each of the first three (3) quarters of each fiscal year of the Company, unaudited statements of income and of cash flows for such fiscal quarter, and an unaudited balance sheet as of the end of such fiscal quarter, all prepared in accordance with GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments and (ii) not contain all notes thereto that may be required in accordance with GAAP);

 

(c)           as soon as practicable, but in any event thirty (30) days before the end of each fiscal year, an operating budget for the next fiscal year prepared on a monthly basis, including balance sheets, income statements, and statements of cash flow for such months (the “Annual Budget”);

 

(d)           promptly following the end of each fiscal quarter, a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the period, the Common Stock issuable upon conversion or exercise of any outstanding securities convertible or exercisable for Common Stock, the exchange ratio or exercise price applicable thereto, and the number of shares of issued stock options, and stock options not yet issued but reserved for issuance, if any, all in sufficient detail as to permit the Major Investors to calculate their respective percentage equity ownership, voting percentage and liquidation preference in the Company, and certified by the chief financial officer or chief executive officer of the Company as being true, complete, and correct; and

 

(e)           upon request of a Major Investor, such other information relating to the financial condition, business, prospects, or corporate affairs of the Company as any Major Investor may from time to time reasonably request, as it relates to such Major Investor’s compliance and reporting requirements; provided, however, that the Company shall not be

 

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obligated under this Section 3.1(e) to provide information (i) that the Company reasonably determines in good faith to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in a form acceptable to the Company); or (ii) the disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel.

 

If, for any period, the Company has any subsidiary whose accounts are consolidated with those of the Company, then in respect of such period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial statements of the Company and all such consolidated subsidiaries.  Notwithstanding anything else in this Section 3.1 to the contrary, the Company may cease providing the information set forth in this Section 3.1 during the period starting with the date sixty (60) days before the Company’s good-faith estimate of the date of filing of a registration statement if it reasonably concludes it must do so to comply with the SEC rules applicable to such registration statement and related offering; provided that the Company’s covenants under this Section 3.1 shall be reinstated at such time as the Company is no longer actively employing its commercially reasonable efforts to cause such registration statement to become effective.

 

3.2          Inspection.  The Company shall permit each Major Investor (provided that the Board of Directors has not reasonably determined that such Major Investor is a competitor of the Company), at such Major Investor’s expense, to visit and inspect the Company’s properties; examine its books of account and records; and discuss the Company’s affairs, finances, and accounts with its officers, during normal business hours of the Company as may be reasonably requested by the Major Investor; provided, however, that the Company shall not be obligated pursuant to this Section 3.2 to provide access to any information that it reasonably and in good faith considers to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in form acceptable to the Company) or the disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel.

 

3.3          Termination of Information Rights.  The covenants set forth in Section 3.1 and Section 3.2 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act or (iii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Certificate of Incorporation, whichever event occurs first.

 

3.4          Confidentiality.  Each Investor agrees that such Investor will keep confidential and will not disclose, divulge, or use for any purpose (other than to monitor its investment in the Company) any confidential information obtained from the Company pursuant to the terms of this Agreement (including notice of the Company’s intention to file a registration statement), unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Section 3.4 by such Investor), (b) is or has been independently developed or conceived by the Investor without use of the Company’s confidential information, or (c) is or has been made known or disclosed to the Investor by a third party without a breach of any obligation of confidentiality such third party may have to the Company; provided, however, that an Investor may disclose confidential information (i) to its attorneys, accountants, consultants, and other professionals to the extent necessary to obtain their services in connection

 

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with monitoring its investment in the Company; (ii) to any prospective purchaser of any Registrable Securities from such Investor, if such prospective purchaser agrees to be bound by the provisions of this Section 3.4; (iii) to any Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Investor in the ordinary course of business, provided that such Investor informs such Person that such information is confidential and directs such Person to maintain the confidentiality of such information; or (iv) as may otherwise be required by law, provided that the Investor promptly notifies the Company of such disclosure and takes reasonable steps to minimize the extent of any such required disclosure.

 

4.             Rights to Future Stock Issuances.

 

4.1          Right of First Offer.  Subject to the terms and conditions of this Subsection 4.1 and applicable securities laws, if the Company proposes to offer or sell any New Securities, the Company shall first offer such New Securities to each Major Investor.  Each Major Investor shall be entitled to apportion the right of first offer hereby granted to it, in such proportions as it deems appropriate, among (i) itself, (ii) its Affiliates and (iii) its beneficial interest holders, such as limited partners, members or any other Person having “beneficial ownership,” as such term is defined in Rule 13d-3 promulgated under the Exchange Act, of such Major Investor (“Investor Beneficial Owners”); provided that each such Affiliate or Investor Beneficial Owner (x) is not a competitor of the Company (as reasonably determined by the Board of Directors) or FOIA Party, unless such party’s purchase of New Securities is otherwise consented to by the Board of Directors, (y) agrees to enter into this Agreement and each of the Voting Agreement and Right of First Refusal and Co-Sale Agreement of even date herewith among the Company, the Investors and the other parties named therein, as an “Investor” under each such agreement (provided that any competitor of the Company (as reasonably determined by the Board of Directors) or FOIA Party shall not be entitled to any rights as a Major Investor under Subsections 3.1, and 3.2 and as an Investor under this Subsection 4.1 hereof), and (z) agrees to purchase at least such number of New Securities as are allocable hereunder to the Major Investor holding the fewest number of shares of Preferred Stock and any other Derivative Securities.

 

(a)           The Company shall give notice (the “Offer Notice”) to each Major Investor, stating (i) its bona fide intention to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such New Securities.

 

(b)           By notification to the Company within twenty (20) days after the Offer Notice is given, each Major Investor may elect to purchase or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion of such New Securities which equals the proportion that the Common Stock then held by such Major Investor (including all shares of Common Stock then issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities then held by such Major Investor) bears to the total Common Stock of the Company then outstanding (assuming full conversion and/or exercise, as applicable, of all Preferred Stock and other Derivative Securities).  At the expiration of such twenty (20) day period, the Company shall promptly notify each Major Investor that elects to purchase or acquire all the shares available to it (each, a “Fully Exercising Investor”) of any other Major Investor’s failure to do likewise.  The closing of any sale pursuant to this Subsection 4.1(b) shall occur within the later of one hundred and twenty (120) days of the

 

17

 

date that the Offer Notice is given and the date of initial sale of New Securities pursuant to Subsection 4.1(c).

 

(c)           If all New Securities referred to in the Offer Notice are not elected to be purchased or acquired as provided in Subsection 4.1(b), the Company may, during the ninety (90) day period following the expiration of the periods provided in Subsection 4.1(b), offer and sell the remaining unsubscribed portion of such New Securities to any Person or Persons at a price not less than, and upon terms no more favorable to the offeree than, those specified in the Offer Notice.  If the Company does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Investors in accordance with this Subsection 4.1.

 

(d)           The right of first offer in this Subsection 4.1 shall not be applicable to (i) Exempted Securities (as defined in the Company’s Certificate of Incorporation); (ii) the issuance of shares of Preferred Stock pursuant to the Purchase Agreement; and (iii) shares of Common Stock issued in the IPO.

 

4.2          Termination.

 

The covenants set forth in Subsection 4.1 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Certificate of Incorporation, whichever event occurs first.

 

5.             Additional Covenants.

 

5.1          Employee Agreements.  The Company will cause each person now or hereafter employed by it or by any subsidiary (or engaged by the Company or any subsidiary as a consultant/independent contractor) with access to confidential information and/or trade secrets to enter into a nondisclosure and proprietary rights assignment agreement.  In addition, the Company shall not amend, modify, terminate, waive, or otherwise alter, in whole or in part, any of the above-referenced agreements or any restricted stock agreement between the Company and any employee, without the consent of the Board of Directors.

 

5.2          Employee Stock.  Unless otherwise approved by the Board of Directors, all future employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares of the Company’s capital stock after the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a four (4) year period, with the first twenty-five percent (25%) of such shares vesting following twelve (12) months of continued employment or service, and the remaining shares vesting in equal monthly installments over the following thirty-six (36) months, and (ii) a market stand-off provision substantially similar to that in Section 2.11.  In addition, unless otherwise approved by the Board of Directors, the Company shall retain a “right of first refusal” on employee transfers until the Company’s IPO and shall have the right to repurchase unvested shares at cost upon termination of employment of a holder of restricted stock.

 

18

 

5.3          Matters Requiring Investor Director Approval.  So long as the holders of Series A Preferred Stock are entitled to elect a Preferred Director, the Company hereby covenants and agrees with each of the Investors that it shall not, without approval of the Board of Directors, which approval must include the affirmative vote of at least one Preferred Director:

 

(a)           make, or permit any subsidiary to make, any loan or advance to, or own any stock or other securities of, any subsidiary or other corporation, partnership, or other entity unless the Company owns at least 75% of such entity;

 

(b)           make, or permit any subsidiary to make, any loan or advance to any Person in excess of $2,000,000, including, without limitation, any employee or director of the Company or any subsidiary, except advances and similar expenditures in the ordinary course of business or under the terms of an employee stock or option plan approved by the Board of Directors;

 

(c)           guarantee, directly or indirectly, or permit any subsidiary to guarantee, directly or indirectly, any indebtedness in excess of $2,000,000 except for trade accounts of the Company or any subsidiary arising in the ordinary course of business;

 

(d)           make any investment in excess of $2,000,000 inconsistent with any investment policy approved by the Board of Directors;

 

(e)           incur any aggregate indebtedness in excess of $5,000,000 that is not already included in the Annual Budget approved by the Board of Directors, other than trade credit incurred in the ordinary course of business, except (the “Debt Exceptions”) (i) as otherwise set forth in any other budget approved by a majority of the Board of Directors, which majority includes at least one Preferred Director, or (ii) renewals of, or drawdowns under, credit or capital lease facilities existing as of the date hereof with accredited financial institutions previously approved by the Board of Directors;

 

(f)            otherwise enter into or be a party to any transaction with any director, officer, or employee of the Company or any “associate” (as defined in Rule 12b-2 promulgated under the Exchange Act) of any such Person except for transactions contemplated by the Annual Budget, this Agreement or the Purchase Agreement, or transactions resulting in payments to or by the Company in an aggregate amount less than $250,000 per year;

 

(g)           hire, terminate, or change the compensation of the executive officers, including approving any option grants or stock awards to executive officers, other than (i) plans or presentations approved by a majority of the Board of Directors, which majority includes at least one Preferred Director or otherwise contemplated in any Annual Budget or (ii) amounts less than $100,000 individually or $1,000,000 per year in the aggregate

 

(h)           change the principal business of the Company, or exit the current line of business;

 

(i)            create, or hold capital stock in, any subsidiary that is not at least 75% owned (either directly or through one or more other subsidiaries) by the Company, or sell, transfer or otherwise dispose of any capital stock of any direct or indirect subsidiary of the Company, or

 

19

 

permit any direct or indirect subsidiary to sell, lease, transfer, exclusively license or otherwise dispose (in a single transaction or series of related transactions) of all or substantially all of the assets of such subsidiary;

 

(j)            sell, assign, license, pledge, or encumber material technology or intellectual property in excess of $5,000,000 annually in the aggregate, other than licenses granted in the ordinary course of business and other than the transfer or spin-out of the novel selective PI3k inhibitor technology licensed from Columbia University; or

 

(k)           enter into any corporate strategic relationship involving the payment, contribution, or assignment by the Company or to the Company of money or assets greater than $5,000,000.

 

5.4          Insurance.  The Company shall obtain and maintain, during the term of this Agreement, director and officer liability insurance with an underwriter and with terms acceptable to the Board of Directors, including the Preferred Directors.

 

5.5          Board Matters.  Unless otherwise determined by the vote of a majority of the directors then in office, the Board of Directors shall meet at least quarterly in accordance with an agreed-upon schedule.  The Company shall reimburse the directors for all reasonable out-of-pocket travel expenses (excluding room accommodations, airfare or other long-distance travel expenses) incurred (consistent with the Company’s travel policy) in connection with attending in-person meetings of the Board of Directors or committees of the Board of Directors.  Each committee of the Board of Directors shall include at least one Preferred Director.

 

5.6          Successor Indemnification.  If the Company or any of its successors or assignees consolidates with or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper provision shall be made so that the successors and assignees of the Company assume the obligations of the Company with respect to indemnification of members of the Board of Directors as in effect immediately before such transaction, whether such obligations are contained in the Company’s Bylaws, its Certificate of Incorporation, or elsewhere, as the case may be.

 

5.7          Termination of Covenants.  The covenants set forth in this Section 5, except for Section 5.6, shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Certificate of Incorporation, whichever event occurs first.

 

6.             Miscellaneous.

 

6.1          Successors and Assigns.  The rights under this Agreement may be assigned (but only with all related obligations) by a Holder to a transferee of Registrable Securities or Preferred Stock that (i) is an Affiliate of a Holder; or (ii) is a Holder’s Immediate Family Member or trust for the benefit of an individual Holder or one or more of such Holder’s Immediate Family Members; provided, however, that (x) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee and the Registrable

 

20

 

Securities or Preferred Stock with respect to which such rights are being transferred; and (y) such transferee agrees in a written instrument delivered to the Company to be bound by and subject to the terms and conditions of this Agreement, including the provisions of Section 2.11. The terms and conditions of this Agreement inure to the benefit of and are binding upon the respective successors and permitted assignees 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 permitted assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein.

 

6.2          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 internal law of the State 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.

 

6.3          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, 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.

 

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

 

6.5          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: (i) personal delivery to the party to be notified; (ii) when sent, if sent by electronic mail or facsimile during the recipient’s normal business hours, and if not sent during normal business hours, then on the recipient’s next business day; (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (iv) one (1) business day after the business day of deposit with a nationally recognized overnight courier, freight prepaid, specifying next-day delivery, with written verification of receipt.  All communications shall be sent to the respective parties at their addresses as set forth on Schedule A hereto or on the signature pages hereto, or to the principal office of the Company and to the attention of the Chief Executive Officer, in the case of the Company, or to such email address, facsimile number, or address as subsequently modified by written notice given in accordance with this Section 6.5.  If notice is given to the Company, a copy shall also be sent to Wilmer Cutler Pickering Hale and Dorr LLP, 60 State Street, Boston, MA 02109, Attention: Rosemary G. Reilly.

 

6.6          Amendments and Waivers.  Any term of this Agreement may be amended, modified or terminated, and the observance of any term of this Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the Company and the holders of a majority of the Registrable Securities then outstanding; provided that the Company may in its sole discretion waive compliance with Section 2.12(c) (and the Company’s failure to object promptly in writing after notification of a proposed assignment allegedly in violation of Section 2.12(c) shall be deemed to be a waiver); and provided further that any provision hereof may be waived by any waiving party on such party’s own behalf,

 

21

 

without the consent of any other party.  Notwithstanding the foregoing, this Agreement may not be amended, modified or terminated and the observance of any term hereof may not be waived with respect to any Investor without the written consent of such Investor, unless such amendment, modification, termination, or waiver applies to all Investors in the same fashion (it being agreed that a waiver of the provisions of Section 5 with respect to a particular transaction shall be deemed to apply to all Investors in the same fashion if such waiver does so by its terms, notwithstanding the fact that certain Investors may nonetheless, by agreement with the Company, purchase securities in such transaction).  Further, this Agreement may not be amended, modified or terminated, and no provision hereof may be waived, in each case, in any way which would adversely affect the rights of the Founder hereunder in a manner disproportionate to any adverse effect such amendment, modification, termination or waiver would have on the rights of the Investors hereunder, without also the written consent of the Founder. Notwithstanding the foregoing, Schedule A hereto may be amended by the Company from time to time to add transferees of any Registrable Securities in compliance with the terms of this Agreement without the consent of the other parties; and Schedule A hereto may also be amended by the Company after the date of this Agreement without the consent of the other parties to add information regarding any additional Investor who becomes a party to this Agreement in accordance with Subsection 6.9  The Company shall give prompt notice of any amendment or termination hereof or waiver hereunder to any party hereto that did not consent in writing to such amendment, modification, termination, or waiver.  Any amendment, modification, termination, or waiver effected in accordance with this Section 6.6 shall be binding on all parties hereto, regardless of whether any such party has consented thereto.  No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

 

6.7          Severability.  In case any one or more of the provisions contained in this Agreement is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law.

 

6.8          Aggregation of Stock.  All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as among themselves in any manner they deem appropriate.

 

6.9          Additional Investors.  Notwithstanding anything to the contrary contained herein, if the Company issues additional shares of Preferred Stock after the date hereof, whether pursuant to the Purchase Agreement or otherwise, any purchaser of such shares of Preferred Stock may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement, and thereafter shall be deemed an “Investor” for all purposes hereunder.  No action or consent by the Investors shall be required for such joinder to this Agreement by such additional Investor, so long as such additional Investor has agreed in writing to be bound by all of the obligations as an “Investor” hereunder.

 

6.10        Entire Agreement.  This Agreement (including any Schedules and Exhibits hereto) constitutes the full and entire understanding and agreement among the parties with respect

 

22

 

to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled.

 

6.11        Dispute Resolution.  The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the federal and state courts located within the geographic boundaries of the United States District Court for the Southern District of New York 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 federal and state courts located within the geographic boundaries of the United States District Court for the Southern District of New York, 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 of the parties to this Agreement consents to personal jurisdiction for any equitable action sought in the U.S. District Court for the Southern District of New York or any court of the State of New York having subject matter jurisdiction.

 

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.

 

6.12        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 nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default, or to 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.  All remedies, whether under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

 

6.13        Acknowledgment.  The Company acknowledges that the Investors are in the business of venture or angel capital investing and therefore review the business plans and related proprietary information of many enterprises, including enterprises which may have

 

23

 

products or services which compete directly or indirectly with those of the Company.  Nothing in this Agreement shall preclude or in any way restrict the Investors from investing or participating in any particular enterprise whether or not such enterprise has products or services which compete with those of the Company.

 

6.14        Effect on Prior Agreement. Upon the execution and delivery of this Agreement by the Company and holders of a majority of the Registrable Securities (as defined in the Prior Agreement) party to the Prior Agreement, the Prior Agreement automatically shall terminate and be of no further force and effect and shall be amended and restated in its entirety as set forth in this Agreement.

 

[Remainder of Page Intentionally Left Blank]

 

24

 

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

 

 

	
 
    	
APPLIED   THERAPEUTICS, INC.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Shoshana   Shendelman
    
	
 
    	
Name:
    	
Shoshana   Shendelman
    
	
 
    	
Title:
    	
Chief   Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
FOUNDER:
    	
/s/   Shoshana Shendelman
    
	
 
    	
 
    	
SHOSHANA   SHENDELMAN
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Address:   340 Madison Avenue, 19th Floor
    
	
 
    	
               New York, NY 10173
    
				

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Alexandria Venture   Investments, LLC
    
	
 
    	
By: Alexandria Real   Estate Equities, Inc., its managing member
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Aaron Jacobson
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name: Aaron Jacobson
    
	
 
    	
Title:   SVP - Venture counsel
    

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Brandon Jones
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Brandon Jones
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Bruce C Conway
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Bruce C Conway
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Charles J Magolske
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Charles J Magolske
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Cynergy   Brookline Healthcare Fund LLC
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Richard Prati
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Richard   Prati
    
	
 
    	
Title:
    	
Manager
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Ed Ilyadzhanov
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Ed Ilyadzhanov
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
ETP   Global Fund, LP
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ James Hu
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
James Hu
    
	
 
    	
Title:
    	
Managing   Partner
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
The   Gary Cook Family Trust
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Gary W. Cook
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Gary W.   Cook
    
	
 
    	
Title:
    	
Trustee
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
GS   Venture Partners LLC
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Gregg Smith
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Gregg   Smith
    
	
 
    	
Title:
    	
Manager
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Hessler   Finance Ltd
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Attilio Scotti
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Attilio   Scotti
    
	
 
    	
Title:
    	
Director
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Jeff Rogers
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Jeff Rogers
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Joel S. Marcus
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Joel S. Marcus
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Neal Polan
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Neal Polan
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Pamela Silver
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Pamela Silver
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Peter J. Crowley
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Peter J. Crowley
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Richard A. Smith
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Richard A. Smith
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Robert R. Penn
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Robert R. Penn
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Starlight   Investment Holdings Limited
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Nicola Hodge
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Nicola   Hodge
    
	
 
    	
Title:
    	
Director
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Syno   Venture Master Fund
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Justin Xiang
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Justin   Xiang
    
	
 
    	
Title:
    	
General   Partner
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Thornapple   River Capital-Venture Fund LLC
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Genesis Gnanga
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Genesis   Gnanga
    
	
 
    	
Title:
    	
Manager
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Timothy Hogue
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Timothy Hogue
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Warwick   Capital Partners, LLC
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Edgar D.   Jannotta, Jr.
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Edgar D.   Jannotta, Jr.
    
	
 
    	
Title:
    	
Manager
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:

    ALEXANDRIA EQUITIES   NO. 7, LLC
   By: ARE-Special Services, LLC, a Delaware limited liability company, managing   member
   By: ALEXANDRIA REAL ESTATE EQUITIES, L.P., a Delaware limited partnership,   managing member
   By: ARE-QRS CORP, a Maryland corporation, general partner
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Aaron Jacobson
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Aaron   Jacobson
    
	
 
    	
Title:
    	
SVP — Venture Counsel
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Ernest   W. Moody Revocable Trust
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ernest W. Moody
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Ernest W.   Moody
    
	
 
    	
Title:
    	
Trustee
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Lars Bader
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Lars Bader
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Nicholas Finegold
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Nicholas Finegold
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Satterfield   Vintage Investments LP
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Thomas A.   Satterfield Jr.
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Thomas A.   Satterfield Jr.
    
	
 
    	
Title:
    	
President of General   Partner
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Steven J. Wice
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Steven J. Wice
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Franklin M. Berger
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Franklin M. Berger
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Edgar   D Jannotta, Jr Exempt Family Trust
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Erika C   Pearsall
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Erika C   Pearsall
    
	
 
    	
Title:
    	
Trustee
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Edgar   D Jannotta, Jr Revocable Trust
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Edgar D   Jannotta, Jr.
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Edgar D   Jannotta, Jr.
    
	
 
    	
Title:
    	
Trustee
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Alexandra   S Jannotta Revocable Trust
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jeffrey C   Pearsall
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Jeffrey C   Pearsall
    
	
 
    	
Title:
    	
Trustee
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Samantha   R Jannotta Revocable Trust
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jeffrey C   Pearsall
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Jeffrey C   Pearsall
    
	
 
    	
Title:
    	
Trustee
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
Maxwell   H Jannotta Revocable Trust
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jeffrey C   Pearsall
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Jeffrey C   Pearsall
    
	
 
    	
Title:
    	
Trustee
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ William J. Cassano
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
William J. Cassano
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Les Funtleyder
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
Les Funtleyder
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
 
    
	
 
    	
Title:
    	
 
    
					

 

[Signature page to Investors’ Rights Agreement]

 

 

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
If an   individual:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Print   Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
If an   entity:
    
	
 
    	
 
    
	
 
    	
A1,   a Series of E Squared Investment Fund, LLC
    
	
 
    	
Print   Name of Entity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Tyler MacKay
    
	
 
    	
(Signature   of authorized officer)
    
	
 
    	
Print   Name:
    	
Assure   Fund Management II, LLC
    
	
 
    	
Title:
    	
Manager   of the Fund
    
					

 

[Signature page to Investors’ Rights Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}]]