Document:

exv4w4

[***] Indicates
text has been omitted from this Exhibit pursuant to a confidential treatment
request and has been filed separately with the Securities and Exchange Commission.

Exhibit 4.4

Loan
and Security Agreements

This
Loan and Security Agreement No. 4561 (this “Agreement”) is entered into as of March
29, 2005, by and between
Lighthouse Capital
Partners V, L.P. (“Lender”) and
Fluidigm
Corporation, a California corporation (“Borrower” or sometimes referred to herein as “Debtor”)
and sets forth the terms and conditions upon which Lender will lend and Borrower will repay money.
In consideration of the mutual covenants herein contained, the parties agree as follows:

1. Definitions and Construction

1.1 Definitions. Initially capitalized terms used and not otherwise defined herein are
defined in the California Uniform Commercial Code (“UCC”).

“ACH” means the Automated Clearing House electronic funds transfer system.

“Advance” means a Loan advanced by Lender to Borrower hereunder.

“Basic Rate” means a variable per annum rate of interest equal to the Index plus the Interest
Margin which shall be subject to adjustment as provided in the Loan Agreement and/or the Note. On
and after the Loan Commencement Date the Basic Rate shall be fixed and not subject to any further
adjustments.

“Borrower’s Books” means all of Borrower’s books and records, including records concerning
Collateral, Borrower’s assets, liabilities, business operations or financial condition, on any
media, and the equipment containing such information.

“Change
of Management or Board Composition” means that (i) Borrower’s senior management shall not
include Gajus Worthington; (ii) Versant Ventures shall cease to have a representative (currently
Samuel Colella) serving on Borrower’s Board of Directors; or(iii) Lehman Brothers shall cease to
have a representative (currently Hingge Hsu) serving on Borrower’s Board of Directors;.

“Collateral” means: (i) all property listed on Exhibit A attached hereto; and (ii) all products
and proceeds of the foregoing, including proceeds of insurance and proceeds of proceeds, provided
that, notwithstanding anything to the contrary contained in this Agreement, the term Collateral
shall not include (a) any property that is subject to a Lien that is otherwise permitted pursuant
to subsection (v) of the definition of ‘Permitted Liens” and Lender agrees to execute any
instruments or documents necessary to evidence the intent of the foregoing; (b) more than 65% of
the issued and outstanding voting securities of any Subsidiary of Borrower that is not
incorporated or organized in the United States; or (c) any of the Company’s Intellectual Property
(as defined below).

“Commitment” means
$13,000,000.

“Commitment Fee” means $10,000.

“Commitment Termination Date” means the earliest to occur of (i) the earlier to occur of (a) June
1, 2005, if Borrower has not borrowed at least $2,000,000 by such date; (b) September 1, 2005, if
Borrower has not borrowed an additional $3,000,000 by such date or (c) December 1, 2005; (ii) any
Default or Event of Default that has not been cured by Borrower or waived in writing by Lender, or
(iii) Change of Management or Board Composition (unless Lender has waived this condition in
writing).

“Control Agreement” means an agreement substantially in the form of Exhibit I or otherwise
reasonably acceptable to Lender.

“Default” means any event that with the passing of time or the
giving of notice or both would become an Event of Default.

“Default Rate” means the lesser of
5% per annum above the otherwise applicable rate or the highest rate permitted by applicable
law.

“Disclosure Schedule” means the Disclosure Schedule, dated as of the date hereof, and delivered to
Lender in connection with the execution and delivery of this Agreement.

“Event of Default” is defined in Section 8.

“Funding Date” means any date on which an Advance is made to or on account of Borrower hereunder.

“Indebtedness” means (i) all indebtedness for borrowed money or the deferred purchase of property
or services, (ii) all obligations evidenced by notes, bonds, debentures or similar instruments,
(iii) all capital lease obligations, and (iv) all contingent obligations, consisting of guaranties
of Indebtedness of other persons and obligations of reimbursement with respect to letters of
credit.

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“Incumbency Certificate” means the document in the form of Exhibit E.

“Index” means the prevailing variable Prime Rate of annual interest as quoted from time to time in
the western edition of the Wall Street Journal.

“Intellectual Property” means, collectively, all rights, priorities and privileges of the Borrower
relating to intellectual property, in any medium, of any kind or nature whatsoever, now or
hereafter owned or acquired or received by Borrower, or in which Borrower now holds or hereafter
acquires or receives any right or interest, whether arising under United States, multinational or
foreign laws or otherwise, including, without limitation, any and all property of the Borrower
that is subject to, listed in or otherwise described in the Negative Pledge Agreement dated March
29, 2005 between Borrower and Lender, and shall include, in any event, all copyrights, copyright
licenses, patents, patent licenses, trademarks, trademark licenses, trade secrets, internet domain
names (including any right related to the registration thereof), proprietary or confidential
information, mask works, sources object or other programming codes, inventions (whether or not
patented or patentable), technical information, procedures, designs, knowledge, know-how,
software, data base, data, skill, expertise, recipe, experience, process, models, drawings,
materials or records. Notwithstanding the foregoing, Intellectual Property as defined above does
not include proceeds or other revenue consisting of accounts, accounts receivable, royalties,
licensing fees, or payment intangibles, obtained or owed from or on account of the licensing or
other exploitation or disposition of Intellectual Property, and all of which are included as
Collateral in the security interest granted by Borrower to Lender.

“Interest Margin” means 2.5% per annum.

“Lender’s Expenses” means all reasonable costs or expenses (including reasonable attorneys’ fees
and expenses) incurred in connection with the preparation, negotiation, modification,
administration, or enforcement of the Loan or Loan Documents, or the exercise or preservation of
any rights or remedies by Lender, whether or not suit is brought. Lender will apply deposits
(including the Commitment Fee) received by Lender, if any, towards Lender’s Expenses.

“Lien” means any lien, security interest, pledge, bailment, lease, mortgage, hypothecation,
conditional sales and title retention agreement, charge, claim, or other encumbrance.

“Liquidation Event” means any of: (i) a merger of Borrower with another entity, other than a
merger whereby the shareholders of Borrower immediately prior to such merger own at least 50% of
the outstanding voting securities of Borrower immediately after such merger; (ii) the sale (in one
or a series of related transactions) of all or substantially all of Borrower’s assets; or (iii)
any transaction (or series of related transactions) whereby the shareholders of Borrower
immediately prior to such transaction(s) own less than 50% of the outstanding voting securities of
Borrower immediately after such transaction(s).

“Loan” means all of the Advances, however evidenced, and all other amounts due or to
become due hereunder.

“Loan
Commencement Date” means March 1, 2006.

“Loan Documents” means, collectively, this Agreement, the Warrant, the Notes, the Financing
Statement and Security Agreement in the form attached as Exhibit A and all other documents,
instruments and agreements entered into between Borrower and Lender in connection with the Loan,
all as amended or extended from time to time.

“Negative Pledge Agreement” means an agreement, dated as of the date hereof, in the form of Exhibit
H.

“Note” means each Secured Promissory Note in the form of Exhibit B, delivered in connection with
each Advance.

“Notice
of Borrowing” means the form attached as Exhibit D.

“Obligations” means all Loans, debt, principal, interest, fees, charges, Lender’s Expenses and
other amounts, obligations, covenants, and duties owing by Borrower to Lender of any kind or
description (whether pursuant to the Loan Documents or otherwise (with the exception of the
Warrant), and whether or not for the payment of money), whether direct or indirect, absolute or
contingent, due or to become due, now existing or hereafter arising, and including any of the same
obtained by Lender by assignment or otherwise, and all amounts Borrower is required to pay or
reimburse by the Loan Documents, by law, or otherwise.

“Permitted Indebtedness” means: (i) the Loan; (ii) unsecured trade debt incurred in the ordinary
course of Borrower’s business; (iii) Indebtedness secured by clause (ii) and (v) of Permitted
Liens; (iv) Subordinated Indebtedness; (v) Indebtedness existing as of the date hereof and listed
on the Disclosure Schedule; (vi) Indebtedness arising from the endorsement of negotiable
instruments for deposits or
collections or similar transactions in the ordinary course of business; (vii) other Indebtedness
consisting of letters of credit and

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reimbursement obligations in an amount not to exceed $250,000; (viii) Indebtedness of (A) Borrower
to any Subsidiary that is unsecured, (B) one Subsidiary to another Subsidiary, or (C) any
Subsidiary to Borrower in an amount not to exceed $4,500,000 in the aggregate; (ix) other
Indebtedness in an outstanding principal amount not to exceed $150,000 in the aggregate; and (x)
Indebtedness incurred in connection with the extension, renewal or refinancing of any Indebtedness
of the type described in clauses (i) through (ix) above, provided that the principal amount of such
Indebtedness does not increase other than any reasonable premium in connection therewith.
Notwithstanding the foregoing, the restrictions on Indebtedness for Subordinated Indebtedness and
referenced in clause (v) of the definition of Permitted Liens shall cease at the effective date of
a public offering of Borrower’s capital stock which results in proceeds of at least $25,000,000.

“Permitted Liens” means: (i) Liens in favor of Lender; (ii) Liens disclosed in the Disclosure
Schedule; (iii) Liens for taxes, fees, assessments or other governmental charges or levies not
delinquent or being contested in good faith by appropriate proceedings, that do not jeopardize
Lender’s interest in any Collateral; (iv) Liens to secure payment of worker’s compensation,
employment insurance, old age pensions or other social security obligations of Borrower on which
Borrower is current and are in the ordinary course of its business; provided none of the same
diminish or impair Lender’s rights and remedies respecting the Collateral; and (v) Liens upon or
in any equipment (including any accessions, attachments, replacements, improvements or proceeds
thereto) acquired or held by Borrower to secure the purchase price of such equipment or
Indebtedness incurred solely for the purposes of financing such equipment, provided that the
aggregate outstanding principal amount of all such financing shall not exceed $5,000,000, (vi)
license or sublicenses of Intellectual Property granted in the ordinary course of business; (vii)
banker’s Liens, rights of setoff and similar Liens incurred on deposit and securities accounts in
the ordinary course of business; (viii) Liens arising from judgments in circumstances not
constituting and Event of Default; (ix) Liens in favor of customs and revenue authorities arising
as a matter of law to secure payments of customs duties in connections with the importation of
goods; (x) Liens on insurance proceeds in favor of insurance companies granted solely as security
for financed premiums; (xi) carriers’, warehousemen’s, mechanics’, landlords’, materialmen’s,
repairmen’s or other similar Liens arising in the ordinary course of business which are not
delinquent or remain payable without penalty or which are being contested in good faith and by
appropriate proceedings; (xii) Liens with respect to cash collateral to secure Indebtedness
otherwise permitted pursuant to clause (vii) of the definition of Permitted Indebtedness; and
(xiii) Liens incurred in connection with the extension, renewal or refinancing of the Indebtedness
secured by Liens of the type described in clauses (i) through (xi) above, provided that any
extension, renewal, or replacement Lien shall be limited to the collateral securing the existing
Lien and the principal amount of such Indebtedness does not increase other than any reasonable
premium in connection therewith.

“Regulated Substance” means any substance, material or waste the use, generation, handling,
storage, treatment or disposal of which is regulated by any local or state government authority,
including any of the same designated by any authority as hazardous, genetic, cloning, fetal, or
embryonic.

“Responsible Officer” means each person as authorized by the board of directors of Borrower as set
forth on the Incumbency Certificate.

“Subordinated Indebtedness” means Indebtedness of Borrower to Singapore EDB and Invus Group that
is subordinated in both security and right of payment to the Obligations on terms and conditions
reasonably satisfactory to Lender in an amount not to exceed $6,000,000.

“Subsidiary” shall mean any entity of which a majority of the outstanding equity interests
entitled to vote for the election of directors is owned by Borrower.

“Term” means the period from and after the date hereof until the full, final and indefeasible
payment and performance of all Obligations.

“Warrant” means the Warrant, dated as of the date hereof, in favor of Lender and its affiliates to
purchase securities of Borrower substantially in the form of Exhibit C.

1.2 Interpretation. References to “Articles,” “Sections,” “Exhibits,” and “Schedules” are to
articles, sections, exhibits and schedules herein and hereto unless otherwise indicated. “Hereof,”
“herein” and “hereunder” refer to this Agreement as a whole. “Including” is not limiting. All
accounting and financial computations shall be computed in accordance with generally accepted
accounting principles consistently applied (“GAAP”). “Or” is not necessarily exclusive. All
interest computation interest shall be based on a 360-day year and actual days elapsed.

2. The Loans

2.1
Commitment. Subject to the terms hereof, Lender will make Advances to Borrower up to the principal amount of the Commitment,
before the Commitment Termination Date. Notwithstanding anything in the Loan Documents to the contrary, Lender’s obligation to make any Advances or to lend the undisbursed portion of the Commitment shall terminate on the Commitment Termination Date. Repaid principal of the Advances may not be re-borrowed.

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2.2 The Advances. A Note setting forth the specific terms of repayment will evidence each
Advance. No Advance will be made for
less than $1,000,000, unless less than $1,000,000 remains available under the Commitment for
borrowing. Absence of a Note evidencing
any portion of the Loan shall not impair Borrower’s obligation to repay it to Lender.

2.3
Terms of Payment, Repayment.

     (a) Repayment. Borrower shall repay the principal and pay interest on each Advance on the
terms set forth in the applicable Note. Amounts not paid when due hereunder or under the Note shall bear interest
at the Default Rate. If a court of competent jurisdiction determines that Lender has received payments that, if interest, would
exceed the maximum lawfully permitted, Lender will instead apply such money to fees and expenses and then to early prepayment of
principal (provided that notwithstanding anything contained in any Loan Document, any such prepayment shall not trigger any
Prepayment Fees).

     (b) ACH. All payments due to Lender must be, at Lender’s option, paid to Lender in cash or
through ACH. Borrower
shall execute and deliver the ACH Authorization Form substantially in the form of Exhibit G.
Lender shall provide Borrower an
invoice for any Obligations that are to be transferred by ACH at least 10 days in advance of
the date of any ACH funds transfer with
respect to Obligations which have become due and payable and are to be transferred by ACH.
If the ACH payment arrangement is
terminated for any reason, Borrower shall make all payments due to Lender at Lender’s
address specified in Section 11.

     (c) Default Rate. While an Event of Default has occurred and is continuing, interest on the
Loan shall be increased to
the Default Rate. Lender’s failure to charge or accrue interest at the Default Rate during
the existence of a Default shall not be deemed
a waiver by Lender of its right or claim thereto.

     (d) Date. Whenever any payment due under the Loan Documents is due on a day other than a
business day, such
payment shall be made on the next succeeding business day, and such extension of time shall
be included in the computation of interest or fees, as the case may be.

2.4 Fees. Borrower shall pay to Lender the following:

     (a) Commitment Fee. The Commitment Fee, which has been previously paid by Borrower,
and shall be applied by Lender to Lender’s Expenses and other Obligations;

     (b) Late Fee. On demand, a late charge on any sums due hereunder that are not paid when due,
in an amount equal to 2%
of the past due amount, payable on demand.

     (c) Lender’s Expenses. The payment of all Lender’s Expenses, which may become due to Lender
by Borrower
hereunder shall be payable by Borrower as set forth in Section 2.3(b). Lender’s Expenses not
paid when due shall bear interest as
principal at the Default Rate.

3. Conditions of Advances; Procedure for Requesting Advances

3.1 Conditions Precedent to any and all Advances. The obligation of Lender to make any Advances is
subject to each and
every of the following conditions precedent in form and substance satisfactory to Lender in its
sole discretion: (i) this Agreement, a
Note evidencing the Advance, the Warrant, and all other UCC financing statements, and other
documents required or as specified herein
have been duly authorized, executed and delivered; (ii) no Default or Event of Default has
occurred and is continuing; (iii) delivery of a
Notice of Borrowing with respect to the proposed Advance; (iv) Lender’s security interests in the
Collateral are valid and first priority,
except for Permitted Liens; and (v) all such other items as Lender may reasonably deem necessary
or appropriate have been delivered or
satisfied. The extension of an Advance prior to the receipt by Lender of any of the foregoing
shall not constitute a waiver by Lender of
Borrower’s obligation to deliver such item.

3.2 Procedure for Making Advances. For any Advance, Borrower shall provide Lender an irrevocable
Notice of Borrowing at
least 7 business days prior to the desired Funding Date and Lender shall only be required to make
Advances hereunder based upon
written requests which comply with the terms and exhibits of this Loan Agreement (as the same may
be amended from time to time),
and which are submitted and signed by a Responsible Officer. Borrower shall execute and deliver to
Lender a Note and such other
documents and instruments as Lender may reasonably require for each Advance made.

4. Creation of Security Interest

4.1
Grant of Security Interest. Borrower grants to Lender a valid, first priority,
continuing security interest in all present and future Collateral in order to secure prompt,
full, faithful and timely payment and performance of all Obligations.

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4.2 Inspections. Lender shall have the right upon reasonable prior notice to inspect Borrower’s
Books, including computer files,
and to make copies, and to test, inspect and appraise the Collateral, in order to verify any matter
relating to Borrower or the Collateral.

4.3 Authorization to File Financing Statements. Borrower irrevocably authorizes Lender at any time
and from time to time to
file in any jurisdiction any financing statements and amendments that: (i) name Collateral as
collateral thereunder, regardless of
whether any particular Collateral falls within the scope of the UCC; (ii) contain any other
information required by the UCC for
sufficiency or filing office acceptance, including organization identification numbers; and (iii)
contain such language as Lender
determines helpful in protecting or preserving rights against third parties. Borrower ratifies any
such filings made prior to the date
hereof.

5. Representations and Warranties

Except as set forth on the Disclosure Schedule, Borrower represents and warrants as follows:

5.1 Due Organization and Qualification. Borrower is a corporation duly formed, existing and in good
standing under the laws
of its state of incorporation and qualified and licensed to do business in, and is in good standing
in, any state in which the conduct of its
business or its ownership of property requires that it be so qualified or in which the Collateral
is located, except to the extent that such
non-compliance would not reasonably be expected to result in an adverse effect on Borrower’s
business.

5.2 Authority. Borrower has all corporate power and authority, and has taken all actions, and has
obtained all third party
consents necessary to execute, deliver, and perform the Loan Documents.

5.3 Disclosure Schedule. All information on the Disclosure Schedule is true, correct and complete.

5.4 Authorization; Enforceability. The execution and delivery hereof, the granting of the security
interest in the Collateral, the
incurring of the Obligations, the execution and delivery of all Loan Documents and the consummation
of the transactions herein and
therein contemplated have been duly authorized by all necessary action by Borrower. The Loan
Documents constitute legal, valid and
binding obligations of Borrower, enforceable in accordance with their terms, except as
enforceability may be limited by bankruptcy or
similar laws relating to enforcement of creditors’ rights generally.

5.5 Name and Location. Borrower has not done business under any name other than that specified on
the signature page hereof.
The chief executive office, principal place of business, and the place where Borrower maintains its
records concerning the Collateral
is set forth in Section 11. The Collateral is presently located at the address(es) set forth in
Section 11 and on the Disclosure Schedule
or any other location that Borrower has provided Lender with written notice thereof.

5.6 Litigation. All actions or proceedings pending by or against Borrower that could reasonably
be expected to result in a
material adverse effect on Borrower’s business before any court or administrative agency are set
forth on the Disclosure Schedule.

5.7 Financial Statements. All financial statements delivered by Borrower to Lender present fairly
in all material respects
Borrower’s financial condition for the periods indicated. All statements respecting Collateral that
have been or may hereafter be
delivered by Borrower to Lender are true, complete and correct in all material respects for the periods indicated.

5.8 Solvency. Borrower is solvent and able to pay its debts (including trade debts) as they come due.

5.9 Taxes. Borrower has filed and will file all required tax returns, and has paid and will pay all
taxes it owes other than where
the failure to comply would not reasonably be expected to have a material adverse effect on
Borrower.

5.10 Rights; Title to Assets. To Borrower’s knowledge, Borrower possesses, owns, or has the right
to use all necessary assets,
rights, trademarks, trade names, copyrights, patents, patent rights, franchises and licenses which
are required to conduct of its business
as now operated, except where the failure to possess or own could not reasonably be expected to
have a material adverse effect on
Borrower’s business. Borrower has good title to its assets, free and clear of any Liens, except for
Permitted Liens.

5.11 Full Disclosure. No written representation, warranty or other statement made by Borrower in
any Loan Document, certificate
or statement furnished to Lender contains any untrue statement of a material fact or omits to state
a material fact necessary in order to
make the statements contained in such certificates or statements not misleading (it being
recognized by Lender that projections and
estimates as to future events are not to be viewed as facts and the actual results during the
period or periods covered by any such
projections and estimates may differ from projected or estimated results).

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     5.12 Regulated Substances. Borrower complies and will comply with all laws respecting Regulated
Substances, except where the
failure to comply could not reasonably be expected to have an adverse effect on Borrower’s
business.

     5.13
Reaffirmation. Each Notice of Borrowing will constitute (i) a warranty and representation in
favor of Lender that there does
not exist any Default and (ii) subject to any amended Disclosure Schedule delivered to Lender or
any other written disclosure required
to be sent to Lender pursuant to the terms hereof, a reaffirmation as of the date thereof of all of
the representations and warranties
contained in this Agreement and the Loan Documents.

6. Affirmative Covenants

So long as any Obligations (other than inchoate indemnity obligations) remain outstanding,
Borrower covenants and agrees that it shall do all of the following:

6.1 Good Standing and Compliance. Borrower shall maintain all governmental licenses, rights and
agreements necessary for its
operations or business and comply in all respects with all statutes, laws, ordinances and
government rules and regulations to which it is
subject except where the failure to comply would not reasonably be expected to result in a material
adverse effect on Borrower.

6.2 Financial Statements, Reports, Certificates. Borrower shall deliver to Lender: (i) as soon as
prepared, and no later than 30
days after the end of each calendar month, a balance sheet, income statement and cash flow
statement covering Borrower’s operations
during such period; (ii) as soon as prepared, but no later than 90 days after the end of the fiscal
year, or such other timeframe formally
approved by Borrower’s audit committee, audited financial statements prepared in accordance with
GAAP, together with an opinion
that such financial statements fairly present Borrower’s financial condition by an independent
public accounting firm reasonably
acceptable to Lender; (iii) immediately upon notice thereof, a report of any legal or
administrative action pending or threatened in
writing against Borrower which is likely to result in liability to Borrower in excess of $100,000
(provided that Borrower shall not be
required to report notices of possibly relevant third party patents, or proposals or demands to
license intellectual property); and
(iv) such other financial information as Lender may reasonably request from time to time. Financial
statements delivered pursuant to
subsections (i) and (ii) above shall be accompanied by a certificate signed by a Responsible
Officer (each an “Officer’s Certificate”) in
the form of Exhibit F.

6.3 Notice of Defaults. Upon any Default or Event of Default, an Officer’s Certificate setting
forth the facts relating to or giving
rise thereto, and the Borrower’s proposed action with respect thereto.

6.4
Use; Maintenance. Borrower, at its expense, shall (i) maintain the tangible Collateral in good condition, reasonable wear
and tear excepted, and will comply in all material respects with all laws, rules and regulations
regarding use and operation of the
tangible Collateral and (ii) repair or replace any lost or damaged Collateral except to the extent
that Borrower in its good faith
judgment deems it to be in its best interest not to repair or replace such lost or damaged
Collateral, so long as applied to a purchase or
acquisition useful to Borrower’s business.

6.5 Insurance. Borrower, at its own expense, shall maintain insurance in amounts and coverages reasonably satisfactory to
Lender. Each insurance shall: (i) name Lender loss payee or additional insured, as appropriate,
(ii) provide for insurer’s waiver of its
right of subrogation against Lender and Borrower, (iii) provide that such insurance shall not be
invalidated by any action of, or breach
of warranty by, Borrower and waive set-off, counterclaim or offset against Lender, (iv) be primary
without a right of contribution of
Lender’s insurance, if any, or any obligation on the part of Lender to pay premiums of Borrower,
and (v) require the insurer to give
Lender at least 30 days prior written notice of cancellation. Borrower shall furnish all
certificates of insurance required by Lender.

6.6 Loss Proceeds. So long as no Event of Default has occurred and is continuing, any proceeds of
insurance on or
condemnation of Collateral shall, at Borrower’s election and so long as Lender’s security interest
in such proceeds remains first
priority, be used either to repair or replace such Collateral or otherwise applied to the purchase
or acquisition of property useful to
Borrower’s business.

6.7 Further Assurances. At any time and from time to time, Borrower shall execute and deliver such further instruments and
take such further action as Lender may reasonably request to effect the intent and purposes hereof,
to perfect and continue perfected
and of first priority Lender’s security interests in the Collateral, and to effect and maintain ACH
payment arrangements.

7. Negative Covenants

So long as any Obligations (other than inchoate indemnity obligations) remain outstanding, Borrower
will not do any of the following:

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7.1 Location of Collateral. Change its chief executive office or principal place of business or
remove, except in the ordinary course of Borrower’s business, the Collateral or Borrower’s Books
from the premises listed in Section 11 and the Disclosure Schedule (or otherwise provided to Lender
in writing pursuant to this Section 7.1) without giving 30 days prior written notice to Lender.
Borrower’s practice of delivering and maintaining inventory at a customer’s location pending
testing, validation and/or acceptance of such inventory by such customer shall be deemed to be in
the “ordinary course of business” for purposes of this Agreement.

7.2 Extraordinary Transactions. Enter into any transaction not in the ordinary course of
Borrower’s business, including the sale, lease, license or other disposition of its assets, other
than (i) sales of inventory in the ordinary course of
Borrower’s business; and (ii) licenses of
intellectual property assets entered into in the ordinary course of business (provided that
licensing arrangements involving universities, governmental agencies, research institutions and
corporate partners shall be deemed in the “ordinary course of business”). The parties hereto
agree (a) strategic partnerships, strategic collaborations, sponsored research collaborations and
development transactions, (b) transactions otherwise permitted in this Article 7, and (c)
transactions for fair value involving the sale or exclusive licensing of Intellectual Property,
that is outside the scope of Borrower’s business in the biotechnology field, that is not being
commercialized or monetized by the Borrower; in each case, shall be deemed to be in the “ordinary
course of business” for purposes of this Agreement.

7.3 Restructure. Make any material change in Borrower’s corporate structure or business other than
the business of the type conducted by Borrower as of the date of this Agreement or any business
reasonably related or incidental thereto; or suspend operation of Borrower’s business.

7.4 Liens. Create, incur, assume or suffer to exist any Lien of any kind with respect to any of its
property, whether now owned or hereafter acquired, except for Permitted Liens.

7.5 Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, other than Permitted
Indebtedness or cause or suffer any Subsidiary to create, incur, assume or suffer to exist any
Indebtedness, other than Permitted Indebtedness.

7.6 Distributions. Pay any dividends or distributions, or redeem or purchase, any capital stock,
except for (i) repurchases of capital stock from employees, consultants or directors, under
incentive stock option plans, restricted stock purchase agreements, repurchase agreements or other
similar agreements approved by the Borrower’s Board of Directors
and (ii) dividends payable solely
in capital stock.

7.7 Transactions with Affiliates. Directly or indirectly enter into any transaction with any
affiliate which is on terms less favorable to Borrower than would be obtained in an arm’s length
transaction with a non-affiliated entity; provided, any such transaction shall not be a breach of
this Section 7.7 if (i) approved by a disinterested majority of the Borrower’s Board of Directors,
or (ii) such transaction involves sales, licensing or other transfers of property between Borrower
and its Subsidiaries, or between Subsidiaries if the consideration for such sale or transfer is not
less than cost (or the fair market value of such property, if lower),
or (iii) such transaction
involves intercompany loans that are otherwise permitted by Section 7.5.

7.8
Compliance. (i) Become regulated as an “investment company” under the Investment Company Act of
1940 or extend credit to purchase or carry margin stock; (ii) fail to meet the minimum funding
requirements of ERISA; (iii) permit a Reportable Event or Prohibited Transaction, as defined in
ERISA, to occur; (iv) fail to comply with the Federal
Fair Labor Standards Act; or (v) violate any
other material law or material regulation.

7.9 UCC Effectiveness. Change its name, jurisdiction of organization, or take any other action
that could render Lender’s financing statements misleading under the Code, without giving Lender 30
days advance written notice.

7.10 Deposit and Securities Accounts. Maintain any deposit accounts or accounts holding securities
owned by Borrower except accounts in which Lender has obtained a perfected first priority security
interest with the exception of (i) account number [***] with Silicon Valley Bank or a
successor account with Wells Fargo Bank securing a letter of credit in favor of Borrower’s landlord
in an amount not to exceed $250,000 in principal amount; (ii) account number [***] with
Comerica Bank or a successor account with Wells Fargo Bank securing a letter of credit in favor of
a lender providing equipment financing to Borrower in an amount not to exceed $500,000 in principal
amount; or (iii) account number [***] with Wells Fargo Bank securing a letter of credit in favor
of Borrower’s landlord in an amount not to exceed $137,527 in
principal amount; or (iv) any other
accounts at Silicon Valley Bank or Comerica Bank (other than those specified in clause (i) or (ii)
of this Section 7.10, provided that such accounts are closed and such funds are move to deposit or
securities accounts in which Lender has a perfect first priority security interest, on or before
June 30, 2005.

8. Events of Default

7

 

Any one or more of the following shall constitute an Event of Default by Borrower hereunder:

8.1
Payment. Borrower fails to pay when due and payable in accordance with the Loan Documents any
portion of the Obligations, or cancels an ACH payment or transfer Lender has initiated in
conformity with the terms hereof provided, however, that an Event of Default shall not occur on
account of a failure to pay due solely to an administrative or operational error if Borrower had
the funds to make the payment when due and makes the payment the business day following Borrower’s
knowledge of such failure to pay.

8.2 Certain Covenant Defaults. Borrower fails to perform any obligation under Section 6.5 or 6.6,
or violates any of the covenants contained in Section 7.

8.3 Other Covenant Defaults. Borrower fails or neglects to perform, keep, or observe any other
term, provision, condition, covenant, or agreement contained in this Agreement, in any of the other
Loan Documents, or in any other present or future agreement between Borrower and Lender and has
failed to cure such failure within 30 days after its occurrence.

8.4 Attachment. Any material portion of Borrower’s assets is attached, seized, subjected to a
government levy, lien, writ or distress warrant, or comes into the possession of any trustee or
receiver and the same is not returned, removed, waived, stayed, discharged or rescinded within 15
days.

8.5 Other Agreements. There is a default in any agreement to which Borrower is a party resulting in
a right by a third party, whether or not exercised, to accelerate the maturity of any Indebtedness,
in an amount greater than $ 100,000.

8.6 Judgments. One or more judgments for an aggregate of at least $100,000 is rendered against
Borrower and remains unsatisfied and unstayed for more than 30 days.

8.7 Injunction. Borrower is enjoined, restrained, or in any way prevented by court order from
continuing to conduct any material part of its business affairs, or if a judgment or other claim
becomes a Lien upon any material portion of Borrower’s assets.

8.8 Misrepresentation. Any representation, statement, or report made to Lender by Borrower was
false or misleading when made in any material respect.

8.9 Enforceability. Lender’s ability to enforce its rights against Borrower or any Collateral is
impaired in any material respect, or Borrower asserts that any Loan Document is not a legal, valid
and binding obligation of Borrower enforceable in accordance with its terms.

8.10 Involuntary Bankruptcy. An involuntary bankruptcy case remains undismissed or unstayed for 60
days or, if earlier, an order granting the relief sought is entered.

8.11 Voluntary Bankruptcy or Insolvency. Borrower commences a voluntary case under applicable
bankruptcy or insolvency law, consents to the entry of an order for relief in an involuntary case
under any such law, or consents or is subject to the appointment of or taking possession by a
receiver, liquidator, assignee, trustee, custodian or other similar official of Borrower or any
substantial part of its property, or makes an assignment for the benefit of creditors, or fails
generally or admits in writing to its inability to pay its debts as they become due, or takes any
corporate action in furtherance of any of the foregoing.

8.12 Merger without Assumption. Borrower or all or substantially all of Borrower’s assets are
acquired by or merged into any other business entity where more than 50% of Borrower’s voting power
is transferred by existing shareholders of Borrower, and such acquirer or resulting entity either:
(i) does not pay off the Obligations at the closing of
the acquisition, merger or sale; or (ii)
does not provide an unconditional, unlimited guaranty of the Obligations in form and substance
satisfactory to Lender and is of a credit quality unacceptable to Lender.

8.13
Liquidation Event. Borrower consummates a Liquidation Event where the acquirer or resulting
entity either: (i) does not pay off the Obligations at the closing of the acquisition, merger or
sale; or (ii) does not provide an unconditional, unlimited guaranty of the Obligations in form and
substance satisfactory to Lender and is of a credit quality unacceptable to Lender.

8.14 General Electric Capital Corporation Indebtedness. The outstanding principal balance of
Borrower owed to General Electric Capital Corporation in connection with any equipment financing
shall be greater than $2,500,000 at any time after December 31, 2006.

9. Lender’s Rights and Remedies

8

 

9.1 Rights and Remedies. Upon the occurrence and continuance of any Event of Default, Lender
may, at its election, without notice of election and without demand, do any one or more of the
following, all of which are authorized by Borrower: (i) accelerate and declare the Loan and all
Obligations immediately due and payable; (ii) make such payments and do such acts as Lender
considers necessary or reasonable to protect its security interest in the Collateral, with such
amounts becoming Obligations bearing interest at the Default Rate;
(iii) exercise any and all other
rights and remedies available under the UCC or otherwise; (iv) require Borrower to assemble the
Collateral at such places as Lender may designate; (v) enter premises where any Collateral is
located, take, maintain possession of, or render unusable the
Collateral or any part of it; (vi)
without notice to Borrower, set off and recoup against any portion of
the Obligations; (vii) ship,
reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell
the Collateral, in connection with which Borrower hereby grants Lender a license to use without
charge Borrower’s premises, labels, name, trademarks, and other property necessary to complete,
advertise, and sell any Collateral; and (viii) sell the Collateral at one or more public or private
sales.

9.2 Power of Attorney in Respect of the Collateral. Borrower hereby irrevocably appoints Lender
(which appointment is coupled with an interest) its true and lawful attorney in fact with full
power of substitution, for it and in its name to, during the
existence of an Event of Default: (i)
ask, demand, collect, receive, sue for, compound and give acquittance for any and all Collateral
with full power to settle, adjust or compromise any claim, (ii) receive payment of and endorse the
name of Borrower on any items of Collateral, (iii) make all demands, consents and waivers, or take
any other action with respect to, the Collateral, (iv) file any claim or take any other action, in
Lender’s or Borrower’s name, which Lender may reasonably deem appropriate to protect its rights in
the Collateral, or (v) otherwise act with respect to the Collateral as though Lender were its
outright owner.

9.3 Charges. If Borrower fails to pay any amounts required hereunder to be paid by Borrower to any
third party, Lender may at its option pay any part thereof and any amounts so paid including
Lender’s Expenses incurred shall become Obligations, immediately due and payable, bearing interest
at the Default Rate, and secured by the Collateral. Any such payments by Lender shall not
constitute an agreement to make similar payments or a waiver of any Event of Default.

9.4 Remedies Cumulative. Lender’s rights and remedies under the Loan Documents and all other
agreements with Borrower shall be cumulative. Lender shall have all other rights and remedies as
provided under the UCC, by law, or in equity. No exercise by Lender of one right or remedy shall be
deemed an election, and no waiver by Lender of any Event of Default shall be deemed a continuing
waiver. No delay by Lender shall constitute a waiver, election, or acquiescence.

9.5 Application of Collateral Proceeds. Lender will apply proceeds of sale, to the extent
actually received in cash, in the manner and order it determines in its sole discretion, and as
prescribed by applicable law.

10. Waivers; Indemnification

10.1 Waivers. Without limiting the generality of the other waivers made by Borrower herein, to the
maximum extent permitted under applicable law, Borrower hereby irrevocably waives all of the
following: (i) any right to assert against Lender as a defense, counterclaim, set-off or
crossclaim, any defense (legal or equitable), set-off, counterclaim, crossclaim and/or other claim
(a) which Borrower may now or at any time hereafter have against any party liable to Lender in any
way or manner, or (b) arising directly or indirectly from the present or future lack of perfection,
sufficiency, validity and/or enforceability of any Loan Document, or
any security interest; (ii)
notice of presentment, dishonor, notice of intent to accelerate, protest, default, nonpayment,
maturity; (iii) the benefit of all marshalling,
valuation, appraisal and exemption laws; (iv) the
right, if any, to require Lender to (a) proceed against any person liable for any of the
Obligations as a condition to or before proceeding hereunder; or (b) foreclose upon, sell or
otherwise realize upon or collect or apply any other property, real or personal, securing any of
the Obligations, as a condition to, or before proceeding hereunder;
(v) any demand for possession
before the commencement of any suit or action to recover possession
of Collateral; and (vi) any
requirement that Lender retain possession and not dispose of Collateral until after trial or final
judgment.

10.2 Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or
responsible for: (i) the safekeeping of any Collateral (except to the extent mandated by the UCC);
(ii) any loss or damage thereto occurring or arising in
any manner or fashion from any cause; (iii)
any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman,
bailee, forwarding agency, or other person or entity whomsoever. All risk of loss, damage or
destruction of the Collateral shall be borne by Borrower. Lender will have no responsibility for
taking any steps to preserve rights against any parties respecting any Collateral. Lender’s powers
hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty
to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or
counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in
connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances
have any liability to Borrower for lost profits or other special, indirect, punitive, or
consequential damages. Lender retains any documents delivered by Borrower only for its purposes and
for such period as Lender, at its sole discretion, may determine necessary, after which time Lender
may destroy such records without notice to or consent from Borrower.

9

 

10.3 Indemnification. Borrower shall, on an after tax basis, defend, indemnify, and
hold Lender and each of its officers, directors, employees, counsel, partners, agents and
attorneys-in-fact (each, an “Indemnified Person”) harmless from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, charges,
expenses or disbursements (including Lender’s Expenses and reasonable attorney’s fees and the
allocated cost of in-house counsel) of any kind or nature whatsoever with respect to the execution,
delivery, enforcement, performance and administration of this Agreement and any other Loan
Documents, or the transactions contemplated hereby and thereby, with respect to noncompliance with
laws or regulations respecting Regulated Substances, government secrecy or technology export, or
any Lien not created by Lender or right of another against any Collateral, even if the Collateral
is foreclosed upon or sold pursuant hereto, and with respect to any investigation, litigation or
proceeding before any agency, court or other governmental authority relating to this Agreement or
the Advances or the use of the proceeds thereof, whether or not any Indemnified Person is a party
thereto (all the foregoing, collectively, the “Indemnified Liabilities”); provided, that Borrower
shall have no obligation hereunder to any Indemnified Person with respect to Indemnified
Liabilities arising from the gross negligence or willful misconduct of such Indemnified Person. The
obligations in this Section shall survive the Term. At the election of any Indemnified Person,
Borrower shall defend such Indemnified Person using legal counsel satisfactory to such Indemnified
Person, at the sole cost and expense of Borrower. All amounts owing under this Section shall be
paid within 30 days after written demand.

11. Notices

All notices shall be in writing and personally delivered or sent by certified mail, postage
prepaid, return receipt requested, or by confirmed facsimile, at the respective addresses set
forth below:

	 	 	 
	If to Borrower:

	 	If to Lender:
	 
	 	 
	Fluidigm Corporation

	 	Lighthouse Capital Partners V, LP
	7100 Shoreline Court

	 	500 Drake’s Landing Road
	South San Francisco, California 94080

	 	Greenbrae, California 94904
	Attention:
General Counsel,

Director of
Finance

	 	Attention: Contract Administrator
	FAX: (650)871-7152

	 	FAX: (415)925-3387

12. General Provisions

12.1 Successors and Assigns. This Agreement shall bind and inure to the benefit of the parties’
respective successors and permitted assigns. Borrower may not assign any rights hereunder without
Lender’s prior written consent, which consent may be granted or withheld in Lender’s sole
discretion. Lender shall have the right without the consent of or notice to Borrower to sell,
transfer, negotiate, or grant participations in all or any part of any Loan Document, provided that
Lender shall not sell, transfer, negotiate, or grant participations in all or any part of any Loan
Document to any competitor of Borrower.

12.2 Time of Essence. Time is of the essence for the performance of all Obligations.

12.3 Severability of Provisions. Each provision hereof shall be severable from every other
provision in determining its legal enforceability.

12.4 Entire Agreement. This Agreement and each of the other Loan Documents dated as of the date
hereof, taken together, constitute and contain the entire agreement between Borrower and Lender
with respect to their subject matter and supersede any and all prior agreements, negotiations,
correspondence, understandings and communications between the parties, whether written or oral.
This Agreement is the result of negotiations between and has been reviewed by the Borrower and
Lender as of the date hereof and their respective counsel; accordingly, this Agreement shall be
deemed to be the product of the parties hereto, and no ambiguity shall be construed in favor of or
against Borrower or Lender. This Agreement may only be modified with the written consent of Lender.
Any waiver or consent with respect to any provision of the Loan Documents shall be effective only
in the specific instance and for the specific purpose for which it was given. No notice to or
demand on Borrower in any one case shall entitle Borrower to any other or further notice or demand
in similar or other circumstances.

12.5 Reliance by Lender. All covenants, agreements, representations and warranties made herein
by Borrower shall, notwithstanding any investigation by Lender, be deemed to be material to and to
have been relied upon by Lender.

12.6 No Set-Offs by Borrower. All sums payable by Borrower pursuant to this Agreement or any of the
other Loan Documents shall be payable without notice or demand and shall be payable in United
States Dollars without set-off or reduction of any manner whatsoever.

10

 

12.7 Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be deemed to be an original, and all of which, when taken together, shall constitute
one and the same original instrument.

12.8 Survival. All covenants, representations and warranties made in this Agreement shall continue
in full force and effect so long as any Obligations (other than inchoate indemnity obligations)
remain outstanding.

12.9 No
Original Issue Discount. Borrower and Lender acknowledge and agree that the Warrant is part
of an investment unit within the meaning of Section 1273(c)(2) of the Internal Revenue Code, which
includes the Loan. Borrower and Lender further agree as between them, that the fair market value of
the Warrant is $100 and that, pursuant to Treas. Reg. § 1.1273-2(h), $100 of the issue price of the
investment unit will be allocable to the Warrant and the balance shall be allocable to the Loans.
Borrower and Lender agree to prepare their federal income tax returns in a manner consistent with
the foregoing and, pursuant to Treas. Reg. § 1.1273, the original issue discount on the Loan shall
be considered to be zero.

12.10 Relationship of Parties. The relationship between Borrower and Lender is, and at all times
shall remain, solely that of a borrower and lender. Lender is not a partner or joint venturer of
Borrower; nor shall Lender under any circumstances be deemed to be in a relationship of confidence
or trust or have a fiduciary relationship with Borrower or any of its affiliates, or to owe any
fiduciary duty to Borrower or any of its affiliates. Lender does not undertake or assume any
responsibility or duty to Borrower or any of its affiliates to select, review, inspect, supervise,
pass judgment upon or otherwise inform any of them of any matter in connection with its or their
property, the Loans, any Collateral or the operations of Borrower or any of its affiliates.
Borrower and each of its affiliates shall rely entirely on their own judgment with respect to such
matters, and any review, inspection, supervision, exercise of judgment or supply of information
undertaken or assumed by Lender in connection with such matters is solely for the protection of
Lender and neither Borrower nor any affiliate is entitled to rely thereon.

12.11
Choice of Law and Venue; Jury
Trial Waiver. This Agreement shall be governed by and construed in
accordance with, the internal laws of the State of California,
without regard to principles of conflicts of law. Each of Borrower
and Lender hereby submits to the exclusive jurisdiction of the State
and Federal courts located in the City and County of San Francisco,
State of California. Borrower and lender hereby waive their
respective rights to a jury trial of any claim or cause of action
based upon or arising out of any of the Loan Documents or any of the
transactions contemplated therein, including contract claims, tort
claims, breach of duty claims, and all other common law or statutory
claims. Each party further waives any right to consolidate any action
in which a jury trial has been waived with any other action in which
a jury trial cannot be or has not been waived.

12.12 Termination. Upon the full, faithful and indefeasible payment and performance of all
Obligations(other than inchoate indemnity obligations) and the termination of any commitment to
extend credit under this Agreement, the security interest granted herein and under the other Loan
Documents shall terminate and this Agreement and the other Loan Documents (other than the Warrant)
shall terminate, except for any inchoate indemnity obligations under
Section 10.3 of this
Agreement.

In
Witness Whereof, the parties hereto have executed this Agreement as of the date first above written.

	 	 	 	 	 	 	 	 	 	 	 
	Fluidigm
Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 

	 	 	 	 	 	By:
	 	Lighthouse
Management Partners V, L.L.C., 

its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Gajus Worthington
 

	 	 	 	By:
	 	/s/ Thomas Conneely
 

	 	 
	Name:

	 	 Gajus Worthington	 	 	 	Name:
	 	Thomas Conneely	 	 
	Title:

	 	PRESIDENT & CEO	 	 	 	Title:
	 	Vice President	 	 

Exhibit A           Collateral Description

Exhibit B           Form of Note

Exhibit C           Form of Preferred Stock Warrant

Exhibit D           Form of Notice of Borrowing

Exhibit E           Form of Incumbency Certificate

Exhibit F           Form of Officers Certificate

Exhibit G          ACH Authorization

Exhibit H          Form of Negative Pledge Agreement

Exhibit I            Control Agreement

11

 

Exhibit A

Collateral

This FINANCING STATEMENT and SECURITY AGREEMENT covers all of Debtor’s interests in all of the
following types or items of property described on this Exhibit A (collectively, the “Collateral”),
wherever located and whether now owned or hereafter acquired, and Debtor hereby grants Secured
Party a security interest therein as collateral for the payment and performance of all present and
future indebtedness, liabilities, guarantees and obligations of Debtor to Secured Party, howsoever
arising. Debtor agrees that said security interest may be enforced by Secured Party in accordance
with the terms of all security and other agreements between Secured Party and Debtor, the
California Uniform Commercial Code, or both, and that this document shall be fully effective as a
security agreement, even if there is no other security or other agreement between Secured Party or
Debtor:

All assets of the Debtor; all personal property of Debtor;

All “accounts”, “general intangibles”, “chattel paper”, “contract rights”, “documents”,
“instruments”, “deposit accounts”, “inventory”, “farm products”, “fixtures” and “equipment”, as
such terms are defined in Division 9 of the California Uniform Commercial Code in effect on the
date hereof;

All general intangibles of every kind, including without limitation, federal, state and local tax
refunds and claims of all kinds; all rights as a licensee or any kind; all customer lists,
telephone numbers, and purchase orders, and all rights to purchase, lease sell, or otherwise
acquire or deal with real or personal property and all rights relating thereto;

All returned and repossessed goods and all rights as a seller of goods; all collateral securing
any of the foregoing; all deposit accounts, special and general, whether on deposit with Secured
Party or others;

All life and other insurance policies, claims in contract, tort or otherwise, and all judgments now
or hereafter arising therefrom;

All right, title and interest of Debtor, and all of Debtor’s rights, remedies, security and liens,
in, to and in respect of all accounts and other collateral, including, without limitation, rights
of stoppage in transit, replevin, repossession and reclamation and other rights and remedies of an
unpaid vendor, lienor or secured party, and all guarantees and other contracts of suretyship with
respect to any accounts and other collateral, and all deposits and other security for any accounts
and other collateral, and all credit and other insurance;

All notes, drafts, letters of credit, contract rights, and things in action; all drawings,
specifications, blueprints and catalogs; and all raw materials, work in process, materials used or
consumed in Debtor’s business, goods, finished goods, returned goods and all other goods and
inventory of whatsoever land or nature, any and all wrapping, packaging, advertising and shipping
materials, and all documents relating thereto, and all labels and other devices, names and marks
affixed or to be affixed thereto for purposes of selling or identifying the same or the seller or
manufacturer thereof;

All inventory wherever located; all present and future claims against any supplier of any of the
foregoing, including claims for defective goods or overpayments to or undershipments by suppliers;
all proceeds arising from the lease or rental of any of the foregoing;

All equipment and fixtures, including without limitation all machinery, machine tools, motors,
controls, parts, vehicles, workstations, tools, dies, jigs, furniture, furnishings and fixtures;
and all attachments, accessories, accessions and property now or hereafter affixed to or used in
connection with any of the foregoing, and all substitutions and replacements for any of the
foregoing; all warranty and other claims against any vendor or lessor of any of the foregoing;

All investment property;

All books, records, ledger cards, computer data and programs and other property and general
intangibles at any time evidencing or relating to any or all of the foregoing; and

All cash and non-cash products and proceeds of any of the foregoing, in whatever form, including
proceeds in the form of inventory, equipment or any other form of personal property, including
proceeds of proceeds and proceeds of insurance, and all claims by Debtor against third parties for
loss or damage to, or destruction of, or otherwise relating to, any or all of the foregoing.

NOTICE — PURSUANT TO AN AGREEMENT BETWEEN DEBTOR AND SECURED PARTY, DEBTOR HAS AGREED NOT TO
FURTHER ENCUMBER THE COLLATERAL DESCRIBED HEREIN (EXCEPT AS EXPRESSLY PERMITTED PURSUANT TO SUCH
AGREEMENT), THE FURTHER ENCUMBERING OF WHICH MAY CONSTITUTE THE TORTIOUS INTERFERENCE

1

 

 

WITH SECURED PARTY’S RIGHTS BY SUCH ENCUMBRANCER. IN THE EVENT THAT ANY ENTITY IS GRANTED A
SECURITY INTEREST IN DEBTOR’S ACCOUNTS, CHATTEL PAPER, GENERAL INTANGIBLES OR OTHER ASSETS CONTRARY
TO THE ABOVE, THE SECURED PARTY ASSERTS A CLAIM TO ANY PROCEEDS THEREOF RECEIVED BY SUCH ENTITY.

Notwithstanding any of the foregoing, this Financing Statement and Security Agreement does not
cover any of Debtor’s interests in, and the Collateral shall not under any circumstance include,
and no security interest is granted in, (i) any property that is subject to a Lien that is
otherwise permitted pursuant to subsection (v) of the definition of “Permitted Liens” as defined
in that certain Loan and Security Agreement, dated as of March 29, 2005, by and between Secured
Party and Debtor, and Secured Party agrees to execute any instruments or documents necessary to
evidence the intent of the foregoing, (ii) more than 65% of the issued and outstanding voting
securities of any subsidiary of Debtor that is not incorporated or organized in the United States,
or (iii) Debtor’s Intellectual Property, including, without limitation, any and all property of
the Debtor that is subject to, listed in or otherwise described in the Negative Pledge Agreement
dated March 29, 2005 between the Secured Party and the Debtor. “Intellectual Property” means,
collectively, all rights, priorities and privileges of the Debtor relating to intellectual
property, in any medium, of any kind or nature whatsoever, now or hereafter owned or acquired or
received by Debtor, or in which Debtor now holds or hereafter acquires or receives any right or
interest, whether arising under United States, multinational or foreign laws or otherwise, and
shall include, in any event, all copyrights, copyright licenses, patents, patent licenses,
trademarks, trademark licenses, trade secrets, internet domain names (including any right related
to the registration thereof), proprietary or confidential information, mask works, sources object
or other programming codes, inventions (whether or not patented or patentable), technical
information, procedures, designs, knowledge, know-how, software, data base, data, skill,
expertise, recipe, experience, process, models, drawings, materials or records. Notwithstanding
the foregoing, Intellectual Property as defined above does not include proceeds or other revenue
consisting of accounts, accounts receivable, royalties, licensing fees, or payment intangibles
obtained or owed from or on account of the licensing or other exploitation or disposition of
Intellectual Property, none of which are excluded, and all of which are included as collateral in
the security interest granted by Debtor to Secured Party.

	 	 	 	 	 	 	 	 	 	 	 
	“Debtor”	 	 	 	“Secured
Party”	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Fluidigm Corporation, a California corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 

	 	 	 	 	 	By:
	 	Lighthouse
Management Partners V, L.L.C.,

its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 	 	 	 	 
	Name:

	 	 	 	 	 	By:	 	 
	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 
	Title:

	 	 	 	 	 	Name:	 	 
	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

	 	 

2

 

Exhibit B

[                    ]

Secured Promissory Note

This
Secured Promissory Note
(this “Note”) is made
                    ,
200           ,
by Fluidigm Corporation
(“Borrower”) in favor
of Lighthouse
Capital Partners V, L.P. (collectively with its assigns, “Lender”).
Initially capitalized terms used and not otherwise defined herein are defined in that certain Loan
and Security Agreement No. 4561 between Borrower and Lender
dated March 29, 2005 (the “Loan
Agreement”).

For Value Received, Borrower promises to pay in lawful money of the United States, to the
order of Lender, at 500 Drake’s Landing Road, Greenbrae, California 94904, or such other place as
Lender may from time to time designate (“Lender’s Office”), the principal
 sum of $                     (the “Advance”), including interest on the unpaid balance and all other amounts due or to
become due hereunder according to the terms hereof and of the Loan Agreement.

“Basic Rate” means a variable per annum rate of interest equal to the Index plus the Interest
Margin which shall be subject to adjustment as provided herein. On and after the Loan Commencement
Date the Basic Rate shall be fixed and not subject to any further adjustments.

“Final Payment” means 9% of the Advance.

“Index” means the prevailing variable Prime Rate of annual interest as quoted from time to time in
the western edition of the Wall Street Journal.

“Interest
Margin” means 2.5% per annum.

“Loan
Commencement Date” means March 1, 2006.

“Maturity Date” means the last day of the Repayment Period, or if earlier, the date of prepayment
under the Note.

“Payment Date” means the first day of each calendar month.

“Prepayment
Fee” means (i) if prepaid in the calendar year 2006, 3% of the outstanding principal
amount being prepaid; (ii) if prepaid in the calendar year 2007, 2% of the outstanding principal
amount being prepaid; and (iii) if prepaid in the calendar year 2008 or 2009, 1% of the
outstanding principal amount being prepaid.

“Repayment Period” means the period beginning on the Loan Commencement Date and continuing for 36
calendar months.

1. Repayment. Borrower shall pay principal and interest due hereunder from the Funding Date, until
this Note is paid in full, on
each Payment Date pursuant to the terms of the Loan Agreement and this Note. Prior to the Loan
Commencement Date, Borrower
shall pay to Lender, monthly in advance on each Payment Date, interest calculated using the Basic
Rate prevailing on the first business
day of such calendar month. Beginning on the Loan Commencement Date and on each Payment Date
thereafter during the Repayment
Period, Borrower shall make equal installments of principal and interest in advance, calculated at
the Basic Rate. On the Maturity
Date, Borrower shall pay, in addition to all unpaid principal and interest outstanding hereunder,
the Final Payment.

2. Interest. Interest not paid when due will, to the maximum extent permitted under applicable law,
become part of principal, at
Lender’s option, and thereafter bear like interest as principal. Interest shall be computed on the
basis of a 360 day year. All
Obligations not paid when due shall bear interest at the Default Rate unless waived in writing by
Lender. All amounts paid hereunder
will be applied to the Obligations in Lender’s discretion and as provided in the Loan Agreement.

3.
Voluntary Prepayment. Borrower may prepay the Note if and only if
Borrower pays to Lender (i)
the outstanding principal
amount of this Note and any unpaid accrued interest
(ii) the Final Payment, (iv) the Prepayment
Fee, and (v) all other sums, if any, that
shall have become due and payable hereunder with respect to this Note.

4. Collateral. This Note is secured by the Collateral.

1

 

5. Waivers. Borrower, and all guarantors and endorsers of this Note, regardless of the time, order or
place of signing, hereby
waive notice, demand, presentment, protest, and notices of every kind, presentment for the purpose
of accelerating maturity, diligence
in collection to the fullest extent permitted by law.

6.
Choice of Law; Venue. This
Note shall be governed by, and construed in accordance with the
internal
laws of the State of
California, without regard to principles of conflicts of law. Each of
Borrower and Lender hereby submits to the exclusive jurisdiction of
the State and Federal courts
located in the City and County of San Francisco, State of California.
Borrower and Lender each
hereby waive their respective rights to a jury trial of any claim or cause of action based upon or
arising out of this Note. Each party further waives any right to consolidate any action in which a
jury trial has been waived with any other action in which a jury trial cannot be or has not been
waived.

7.
Miscellaneous.  The Note 
may be modified only by 
a writing signed by Borrower and
Lender. Each provision hereof is severable from every other provision hereof and of the Loan Agreement when determining its
legal enforceability. Sections and
subsections are titled for convenience, and not for construction. “Hereof,” “herein,” “hereunder,”
and similar words refer to this Note
in its entirety. “Or” is not necessarily’ exclusive. “Including” is not limiting. The terms and
conditions hereof inure to the benefit of
and are binding upon the parties’ respective permitted successors and assigns. This Note is subject
to all the terms and conditions of
the Loan Agreement.

In Witness Whereof, Borrower has caused this Note to be executed by a duly authorized
officer as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 
	 	 	 	 
	 	 
	 

	 	Name:
	 	 

	 	 
	 
	 	 	 	 
	 	 
	 

	 	Title:
	 	 

	 	 
	 
	 	 	 	 
	 	 
	 

	 	 	 	 

	 	 

2

 

Exhibit
C

Warrants

1

 

NEITHER THIS WARRANT NOR THE SHARES OF CAPITAL STOCK ISSUABLE UPON EXERCISE HEREOF HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“1933 ACT”), OR ANY APPLICABLE STATE
SECURITIES LAWS. SUCH SECURITIES MAY NOT BE SOLD OR TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN
ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR THE COMPANY HAS
RECEIVED AN OPINION OF COUNSEL, REASONABLY ACCEPTABLE TO THE COMPANY, TO THE EFFECT THAT SUCH SALE
OR TRANSFER IS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS.

PREFERRED STOCK PURCHASE WARRANT

	 	 	 
	Warrant No.                                        

	 	Number of Shares: initially, 185,714
	 

	 	Series D Preferred Stock
	 

	 	subject to increase as set forth below

Fluidigm
Corporation

Effective
as of March 29, 2005

Void after March 29, 2012

     1. Issuance.
This Preferred Stock Purchase Warrant (the “Warrant”)
is issued to Lighthouse
Capital Partners V, L.P. by 
Fluidigm Corporation, a California corporation
(hereinafter with its successors
called the “Company”).

     2. Purchase Price; Number of Shares.

     (a) The registered holder of this Warrant (the “Holder”), commencing on the date hereof, is
entitled upon surrender of this Warrant with the subscription form annexed hereto duly executed, at the
principal office of the Company, to purchase from the Company, at a price per share of $2.80 (the “Purchase
Price”), 185,714 fully
paid and nonassessable shares of the Company’s Series D Preferred Stock, (the “Exercise
Quantity”), $0.001 par
value (the “Preferred Stock”).

     (b) On the Commitment Termination Date, the Exercise Quantity shall automatically be increased
by
such additional number of shares (rounded to the nearest whole share) of Series D Preferred
Stock, if any, as is equal
to the amount determined by dividing (A) 4% of the Aggregate Advances under the Loan
Agreement, if any, by (B)
the Purchase Price

In addition to other terms which may be defined herein, the following terms, as used in this
Warrant, shall have the following meanings:

	 	(i)	 	“Aggregate Advances” means the aggregate original dollar amount of all
Advances made under the Loan Agreement, whether such Advances are outstanding or
prepaid, at the time of any scheduled adjustment to the Exercise Quantity.
	 
	 	(ii)	 	“Loan Agreement” means that certain Loan and Security Agreement No. 4561 dated
March 29, 2005 between the Company and Lighthouse Capital Partners V, L.P..

Any capitalized term not defined herein shall have the meaning as set forth in the Loan Agreement.

1.

 

Until such time as this Warrant is exercised in full or expires, the Purchase Price and the
securities issuable upon exercise of this Warrant are subject to adjustment as hereinafter
provided. The person or persons in whose name or names any certificate representing shares of
Preferred Stock is issued hereunder shall be deemed to have become the holder of record of the
shares represented thereby as at the close of business on the date this Warrant is exercised with
respect to such shares, whether or not the transfer books of the Company shall be closed.

     3. Payment
of Purchase Price. The Purchase Price may be paid (i) in cash or by check, (ii) by
the
surrender by the Holder to the Company of any promissory notes or other obligations issued by
the Company, with
all such notes and obligations so surrendered being credited against the Purchase Price in an
amount equal to the
principal amount thereof plus accrued interest to the date of surrender, or (iii) by any
combination of the foregoing.

     4. Net
Issue Election. The Holder may elect to receive, without the payment by the Holder of
any
additional consideration, shares of Preferred Stock equal to the value of this Warrant or any
portion hereof by the
surrender of this Warrant or such portion to the Company, with the net issue election notice
annexed hereto duly
executed, at the principal office of the Company. Thereupon, the Company shall issue to the
Holder such number of
fully paid and nonassessable shares of Preferred Stock as is computed using the following
formula:

	 	 	 	 	 	 	 
	 

	 	X=
	Y(A-B)
 

A
	 	 

	 	 	 	 	 
	where:

	 	X =
	 	the number of shares of Preferred Stock to be issued to the
Holder pursuant to this Section 4.
	 
	 	 	 	 
	 

	 	Y =
	 	the number of shares of Preferred Stock covered by this
Warrant in respect of which the net issue election is made
pursuant to this Section 4.
	 
	 	 	 	 
	 

	 	A =
	 	the Fair Market Value (defined below) of one share of
Preferred Stock, as determined at the time the net issue
election is made pursuant to this Section 4.
	 
	 	 	 	 
	 

	 	B =
	 	the Purchase Price in effect under this Warrant at the time
the net issue election is made pursuant to this Section 4.

          “Fair Market Value” of a share of Preferred Stock (or fully paid and nonassessable shares of
the Company’s common stock, $0.001 par value (the “Common Stock”) if the Preferred Stock has been
automatically converted into Common Stock) as of the date that the net issue election is made (the
“Determination Date”) shall mean:

          (i) If the net issue election is made in connection with and contingent upon the closing of the
sale of the Company’s Common Stock to the public in a public offering pursuant to a Registration
Statement under the Securities Act of 1933, as amended (a “Public Offering”), and if the Company’s
Registration Statement relating to such Public Offering (“Registration Statement”) has been
declared effective by the Securities and Exchange Commission, then the initial “Price to Public”
specified in the final prospectus with respect to such offering multiplied by the number of shares
of Common Stock into which each share of Preferred Stock is then convertible.

          (ii) 
If the net issue election is not made in connection with and
contingent upon a Public Offering, then as follows:

               (a) If traded on a securities exchange or the Nasdaq National Market, the fair
market value of the Common Stock shall be deemed to be the average of the closing or last reported
sale prices of the Common Stock on such exchange or market over the five day period ending five
trading days prior to the Determination Date, and the fair market value of the Preferred Stock
shall be deemed to be such fair market value of the Common Stock multiplied by the number of
shares of Common Stock into which each share of Preferred Stock is then convertible;

2.

 

               (b) If otherwise traded in an over-the-counter market, the fair market value
of the
Common Stock shall be deemed to be the average of the closing ask prices of the Common Stock over
the five day period ending five trading days prior to the Determination Date, and the fair market
value of the Preferred Stock shall be deemed to be such fair market value of the Common Stock
multiplied by the number of shares of Common Stock into which each share of Preferred Stock is then
convertible; and

               (c) If
there is no public market for the Common Stock, then fair market value shall
be determined in good faith by the Company’s Board of Directors.

     5. Partial Exercise. This Warrant may be exercised in part, and the Holder shall be entitled
to
receive a new warrant, which shall be dated as of the date of this Warrant, covering the
number of shares in respect
of which this Warrant shall not have been exercised.

     6. Fractional Shares. In no event shall any fractional share of Preferred Stock be issued upon
any
exercise of this Warrant. If, upon exercise of this Warrant in its entirety, the Holder would,
except as provided in
this Section 6, be entitled to receive a fractional share of Preferred Stock, then the Company
shall issue the next
higher number of full shares of Preferred Stock, issuing a full share with respect to such
fractional share.

     7. Expiration Date; Automatic Exercise. This Warrant shall expire at the close of
business on
March 29, 2012, and shall be void thereafter (the “Expiration Date”). Notwithstanding the
term of this Warrant
fixed pursuant to this Section 7, and provided Holder has received advance written notice of
at least twenty (20)
days and has not earlier exercised this Warrant, and provided this Warrant has not been
assumed by the successor
entity (or parent thereof), upon the consummation of a Merger (as defined below), this Warrant
shall automatically
be exercised pursuant to Section 4 hereof, without any action by Holder. “Merger” means: (i)
a sale of all or
substantially all of the Company’s assets to an Unaffiliated Entity (as defined below), or
(ii) the merger,
consolidation or acquisition of the Company with, into or by an Unaffiliated Entity (other
than a merger or
consolidation for the principle purpose of changing the domicile of the Company or a bona fide
round of preferred
stock equity financing), that results in the Company’s shareholders immediately prior to such
merger, consolidation,
or acquisition holding, immediately thereafter, less than a majority of the outstanding
voting securities of the
successor corporation or its parent. “Unaffiliated Entity” means any entity that is owned or
controlled by parties
who own less than twenty percent (20%) of the combined voting power of the voting securities
of the Company
immediately prior to such merger or sale of assets, consolidation or acquisition.
Notwithstanding the foregoing, in
the event that any outstanding warrants to purchase equity securities of the Company (it being
acknowledged and
agreed that options to acquire common stock issued to officers, directors, employees and
consultants shall not be
deemed “warrants”) are assumed by the successor entity of a Merger (or parent thereof), this
Warrant shall also be
similarly assumed and the automatic exercise provision in this Section 7 shall have no effect.
The Company agrees
to give the Holder written notice promptly after it has entered into a definitive agreement
relating to any proposed
Merger and written notice of termination of any definitive agreement relating to any proposed
Merger.
Notwithstanding anything to the contrary in this Warrant, (i) the Holder may expressly make
any voluntary exercise
of this Warrant contingent on, and effective immediately prior to, the consummation of such
Merger and (ii) any
automatic exercise of this Warrant in connection with a Merger shall be conditioned on
consummation of such
Merger and shall be effective immediately prior thereto.

     8. Reserved Shares; Valid Issuance. The Company covenants that it will at all times from and
after
the date hereof reserve and keep available such number of its authorized shares of Preferred
Stock and Common
Stock free from all preemptive or similar rights therein, as will be sufficient to permit,
respectively, the exercise of
this Warrant in full and the conversion into shares of Common Stock of all shares of Preferred
Stock receivable
upon such exercise. The Company further covenants that such shares as may be issued pursuant
to such exercise
and/or conversion will, upon issuance, be duly and validly issued, fully paid and
nonassessable and free from all
taxes, liens and charges with respect to the issuance thereof.

     9. Stock Splits and Dividends. If after the date hereof the Company shall subdivide the
Preferred
Stock, by split-up or otherwise, or combine the Preferred Stock, or issue additional shares of
Preferred Stock in
payment of a stock dividend on the Preferred Stock, the number of shares of Preferred Stock
issuable on the exercise

3.

 

of this Warrant shall forthwith be proportionately increased in the case of a subdivision or stock
dividend, or proportionately decreased in the case of a combination, and the Purchase Price shall
forthwith be proportionately decreased in the case of a subdivision or stock dividend, or
proportionately increased in the case of a combination.

     10. Adjustments for Diluting Issuances. The antidilution rights applicable to the Series D
Preferred
Stock of the Company are set forth in the Amended and Restated Articles of Incorporation, as
amended from time to
time (the “Articles”), a true and complete copy in its current form which has been made
available to Holder. Such
rights shall not be restated, amended or modified in any manner which affects the Holder
differently than the holders
of outstanding Series D Preferred Stock without such Holder’s prior written consent. The
Company shall provide
the Holder hereof with any restatement, amendment or modification to the Articles promptly
after the same has been
made.

     11. Mergers and Reclassifications. (a) Except as set forth in Section 7, If after the
date hereof the Company shall enter into any Reorganization (as hereinafter defined), then, as a
condition of such Reorganization, lawful provisions shall be made, and duly executed documents
evidencing the same from the Company or its successor shall be delivered to the Holder, so that
the Holder shall thereafter have the right to purchase, at a total price not to exceed that
payable upon the exercise of this Warrant in full, the kind and amount of shares of stock and
other securities and property receivable upon such Reorganization by a holder of the number of
shares of Preferred Stock which might have been purchased by the Holder immediately prior to such
Reorganization, and in any such case appropriate provisions shall be made with respect to the
rights and interest of the Holder to the end that the provisions hereof (including without
limitation, provisions for the adjustment of the Purchase Price and the number of shares issuable
hereunder and the provisions relating to the net issue election) shall thereafter be applicable in
relation to any shares of stock or other securities and property thereafter deliverable upon
exercise hereof. For the purposes of this Section 11, the term “Reorganization” shall include
without limitation any reclassification, capital reorganization or change of the Preferred Stock
(other than as a result of a subdivision, combination or stock dividend provided for in Section 9
hereof), or any consolidation of the Company with, or merger of the Company into, another
corporation or other business organization (other than a merger in which the Company is the
surviving corporation and which does not result in any reclassification or change of the
outstanding Preferred Stock), or any sale or conveyance to another corporation or other business
organization of all or substantially all of the assets of the Company.

          (b) Notwithstanding any other provision of this Warrant, in the event of an automatic
conversion of the Company’s outstanding Series D Preferred Stock into Common Stock in accordance
with the Company’s Articles, as in effect from time to time, this Warrant shall thereafter
represent the right to acquire for the aggregate Purchase Price (as then in effect) the number of
shares of Common Stock into which the number of shares of Preferred Stock issuable upon exercise
of this Warrant would have then been convertible.

     12. Certificate of Adjustment. Whenever the Purchase Price is adjusted, as herein provided,
the
Company shall promptly deliver to the Holder a certificate of the Company’s chief financial
officer (or other
appropriate officer) setting forth the Purchase Price after such adjustment and setting forth
a brief statement of the
facts requiring such adjustment.

     13. Notices of Record Date, Etc. In the event of:

          (a) any taking by the Company of a record of the holders of any class of securities for the
purpose of determining the holders thereof who are entitled to receive any dividend or other
distribution, or any right
to subscribe for, purchase, sell or otherwise acquire or dispose of any shares of stock of any
class or any other
securities or property, or to receive any other right;

          (b) any reclassification of the capital stock of the Company, capital reorganization of the
Company, consolidation or merger involving the Company, or sale or conveyance of all or
substantially all of its
assets; or

          (c) any voluntary or involuntary dissolution, liquidation or winding-up of the
Company;

4.

 

then in each such event the Company will provide or cause to be provided to the Holder a written
notice thereof. Such notice shall be provided at least twenty (20) business days prior to the date
specified in such notice on which any such action is to be taken.

     14. Representations, Warranties and Covenants. This Warrant is issued and delivered by the
Company and accepted by each Holder on the basis of the following representations, warranties
and covenants made
by the Company:

          (a) The Company has all necessary corporate power and authority to issue, execute and
deliver this Warrant and to perform its obligations hereunder. This Warrant has been duly
authorized issued,
executed and delivered by the Company and is the valid and binding obligation of the Company,
enforceable in
accordance with its terms, except as enforceability may be limited by bankruptcy or similar
laws relating to the
enforcement of creditors’ rights generally.

          (b) The shares of Preferred Stock issuable upon the exercise of this Warrant have been duly
authorized and reserved for issuance by the Company and, when issued in accordance with the
terms hereof, will be
validly issued, fully paid and nonassessable.

          (c)
The issuance, execution and delivery of this Warrant do not, and the issuance of the shares of Preferred Stock upon the exercise of this Warrant in accordance with the terms
hereof will not, (i) violate
or contravene the Company’s Articles or by-laws, or any law, statute, regulation, rule,
judgment or order applicable
to the Company, (ii) violate, contravene or result in a breach or default under any contract,
agreement or instrument
to which the Company is a party or by which the Company or any of its assets are bound or
(iii) require the consent
or approval of or the filing of any notice or registration with any person or entity (other
than such notices or filings
as may be required under applicable securities laws).

          (d) As long as this Warrant is, or any shares of Preferred Stock issued upon exercise of this
Warrant or any shares of Common Stock issued upon conversion of such shares of Preferred Stock
are, issued and
outstanding, the Company will provide to the Holder the financial and other information
described in that certain
Loan and Security Agreement No. 4561 between the Company and Lighthouse Capital Partners
V, L.P. dated as of
March 29, 2005.

          (e) As of the date hereof, the authorized capital stock of the Company consists of (i)
65,500,000 shares of Common Stock, of which 8,909,357 shares are issued and outstanding and
185,714 shares are
reserved for issuance upon the exercise of this Warrant with respect to Common Stock and the
conversion of the
Preferred Stock into Common Stock if this Warrant is exercised with respect to Preferred
Stock, (ii) 2,727,273
shares of Series A Preferred Stock, of which 2,727,273 are issued and outstanding shares,
(iii) 6,460,675 shares of
Series B Preferred Stock, of which 6,460,675 are issued and outstanding shares, (iv)
20,551,163 shares of Series C
Preferred Stock, of which 16,364,832 are issued and outstanding shares, and (v) 13,887,716
shares of Series D
Preferred Stock, of which 7,292,127 are issued and outstanding shares. Company has delivered
a capitalization
table to Holder summarizing the capitalization of the Company. At the request of Holder, not
more than once per
calendar quarter, the Company will provide Holder with a current capitalization table
indicating changes, if any, to
the number of outstanding shares of common stock and preferred stock.

     15. Registration Rights. The Company grants to the Holder all the rights of a “Holder” [and
an
“Investor”] under the Company’s Amended and Restated Investors’ Rights Agreement dated as of
December 18,
2003 (the “Rights Agreement”), including, without limitation, the registration rights
contained therein, and agrees to
amend the Rights Agreement so that (i) the shares of Common Stock issuable upon conversion of
the shares of
Preferred Stock issuable upon exercise of this Warrant shall be “Registrable Securities,” and
(ii) the Holder shall be
a “Holder” [and an “Investor"] for all purposes of such Rights Agreement.

     16. Amendment. The terms of this Warrant may be amended, modified or waived only with the
written consent of the Holder and the Company.

5.

 

     17. Representations and Covenants of the Holder. This Warrant has been entered into by the
Company in reliance upon the following representations and covenants of the Holder, which by its
execution hereof the Holder hereby confirms:

          (a) Investment Purpose. The right to acquire Preferred Stock or the Preferred Stock
issuable upon exercise of the Holder’s rights contained herein will be acquired for investment and
not with a view to the sale or distribution of any part thereof, and the Holder has no present
intention of selling or engaging in any public distribution of the same except pursuant to a
registration or exemption.

          (b) Accredited Investor. Holder is an “accredited investor” within the meaning of Rule 501 of
Regulation D, promulgated under the 1933 Act as presently in effect.

          (c) Private Issue. The Holder understands (i) that neither the issuance of this Warrant nor
the issuance of any shares of the Company’s capital stock issuable upon exercise of the Holder’s
rights contained herein has been registered under the 1933 Act or qualified under applicable state
securities laws on the ground that the issuances contemplated by this Warrant will be exempt from
the registration and qualifications requirements thereof, and (ii) that the Company’s reliance on
such exemption is predicated on the representations of the Holderset forth in this Section 17.

          (d) Financial Risk. The Holder has such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of its investment and has the ability
to bear the economic risks of its investment.

     18. Notices, Transfers, Etc.

          (a) Any notice or written communication required or permitted to be given to the Holder may be
given by certified mail or delivered to the Holder at the address most recently provided by the
Holder to the Company.

          (b) Subject to compliance with applicable federal and state securities laws, this Warrant may
be transferred by the Holder with respect to any or all of the shares purchasable hereunder. Upon
surrender of this Warrant to the Company, together with the assignment notice annexed hereto duly
executed, for transfer of this Warrant as an entirety by the Holder, the Company shall issue a new
warrant of the same denomination to the assignee. Upon surrender of this Warrant to the Company,
together with the assignment hereof properly endorsed, by the Holder for transfer with respect to a
portion of the shares of Preferred Stock purchasable hereunder, the Company shall issue a new
warrant to the assignee, in such denomination as shall be requested by the Holder hereof, and shall
issue to such Holder a new warrant covering the number of shares in respect of which this Warrant
shall not have been transferred.

          (c) In case this Warrant shall be mutilated, lost, stolen or destroyed, the Company shall
issue a new warrant of like tenor and denomination and deliver the same (i) in exchange and
substitution for and upon surrender and cancellation of any mutilated Warrant, or (ii) in lieu of
any Warrant lost, stolen or destroyed, upon receipt of an affidavit of the Holder or other evidence
reasonably satisfactory to the Company of the loss, theft or destruction of such Warrant.

     19. No Impairment. The Company will not, by amendment of its Articles or through any
reclassification, capital reorganization, consolidation, merger, sale or conveyance of assets,
dissolution, liquidation, issue or sale of securities or any other voluntary action, avoid or seek
to avoid the observance of performance of any of the terms of this Warrant, but will at all times
in good faith assist in the carrying out of all such terms and in the taking of all such action as
may be necessary or appropriate in order to protect the rights of the Holder. In no event shall any
reclassification, capital reorganization, consolidation, merger, sale or conveyance of assets,
dissolution, liquidation, issue or sale of securities or any other transaction be deemed an
“impairment” for purposes of this Section 18 if the shares of the Company’s capital stock issuable
upon exercise of this Warrant are affected thereby in the same manner as outstanding shares of such
capital stock.

6.

 

     20. Governing Law. The provisions and terms of this Warrant shall be governed by and construed
in accordance with the internal laws of the State of California without giving effect to its
principles regarding conflicts of laws.

     21. Successors and Assigns. This Warrant shall be binding upon the Company’s successors and
assigns and shall inure to the benefit of the Holder’s successors, legal representatives and
permitted assigns.

     22. Business Days. If the last or appointed day for the taking of any action required or the
expiration of any rights granted herein shall be a Saturday or Sunday or a legal holiday in
California, then such action may be taken or right may be exercised on the next succeeding day
which is not a Saturday or Sunday or such a legal holiday.

     23. Value. The Company and the Holder agree that the value of this Warrant on the date of
grant is $100.

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

7.

 

Subscription

	 	 	 	 	 
	To:
	 	 	 	 
	 

	 	 

	 	 
	Date:
	 	 	 	 
	 

	 	 

	 	 

The undersigned hereby subscribes for                      shares of Preferred Stock covered by this Warrant. The
certificate(s) for such shares shall be issued in the name of the undersigned or as otherwise
indicated below:

	 	 	 
	 
	 	 
	 

Signature

	 	 
	 
	 	 
	 

Name for Registration

	 	 
	 
	 	 
	 

Mailing Address

	 	 

1.

 

Net Issue Election Notice

	 	 	 	 	 	 	 	 	 	 	 
	To:

	 	 	 	 	 	Date:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 

The undersigned hereby elects under Section 4 to surrender the right to purchase shares of
Preferred Stock pursuant to this Warrant. The certificate(s) for such shares issuable upon such
net issue election shall be issued in the name of the undersigned or as otherwise indicated below:

	 	 	 
	 

Signature

	 	 
	 
	 	 
	 

Name for Registration

	 	 
	 
	 	 
	 

Mailing Address

	 	 

1.

 

Assignment

For value received                                                                                                                          hereby sells, assigns and transfers unto

 

 

[Please print or typewrite name and address of Assignee]

 

the within Warrant, and does hereby irrevocably constitute and appoint
                    
                    
                    
                    
its attorney to transfer the within Warrant on the books of the within named Company with full
power of substitution on the premises.

	 	 	 	 	 
	Dated:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 	 	 
	Signature	 	 
	 
	 	 	 	 
	 	 	 
	Name for Registration	 	 
	 
	 	 	 	 
	In the Presence of:	 	 
	 
	 	 	 	 
	 	 	 

1.

 

Exhibit A

Amended and Restated Certificate of Incorporation

See attached pages.

 

 

Exhibit A

Amended and Restated Articles of Incorporation

 

AMENDED AND RESTATED

ARTICLES OF INCORPORATION OF

FLUIDIGM CORPORATION

     Gajus V. Worthington and William Smith certify that:

     1. They are the President and Secretary, respectively, of Fluidigm Corporation, a California
corporation (the “Corporation”).

     2. The Articles of Incorporation of the Corporation are amended and restated in full to read
as set forth in EXHIBIT A attached hereto and incorporated by reference as if fully set
forth herein.

     3. Said Amended and Restated Articles of Incorporation have been duly approved by the
Corporation’s Board of Directors.

     4. Said Amended and Restated Articles of Incorporation have been duly approved by the required
vote of shareholders in accordance with Sections 902 and 903 of the Corporations Code. The total
number of outstanding shares of the corporation is 7,753,917 shares of Common Stock, 2,727,273
shares of Series A Preferred Stock, 6,460,675 shares of Series B Preferred Stock and 14,315,608
shares of Series C Preferred Stock. The number of shares voting in favor of the amendment equaled
or exceeded the vote required. The percentage vote required was more than 50% of the outstanding
Common Stock, voting as a single class, more than 66 2/3% of the outstanding Series C Preferred
Stock, voting as a single class, more than 66 2/3% of the outstanding Preferred Stock voting as a
single class and more than 50% of the outstanding Common Stock and Preferred Stock, voting together
as a single class.

     I further declare under penalty of perjury that the matters set forth in the foregoing
certificate are true and correct of my own knowledge.

     Executed
at Palo Alto, California, this ___ day of October, 2002.

                                             

Gajus V. Worthington

President

                                                            

William Smith

Secretary

 

 

Exhibit A

AMENDED AND RESTATED

ARTICLES OF INCORPORATION OF

FLUIDIGM CORPORATION

ARTICLE I

     The name of the corporation is Fluidigm Corporation.

ARTICLE II

     The purpose of this corporation is to engage in any lawful act or activity for which a
corporation may be organized under the General Corporation Law of California other than the banking
business, the trust company business or the practice of a profession permitted to be incorporated
under the California Corporations Code.

ARTICLE III

     The total number of shares of stock that the corporation shall have authority to issue is
Seventy-Four Million Three Hundred Ninety Thousand Two Hundred Seventy-Four (74,390,274),
consisting of Forty-Four Million Six Hundred Fifty-One Thousand One Hundred Sixty-Three
(44,651,163) shares of Common Stock, $0.001 par value per share, and Twenty-Nine Million Seven
Hundred Thirty-Nine Thousand One Hundred Eleven (29,739,111) shares of Preferred Stock, $0.001 par
value per share. The first series of Preferred Stock shall be designated “Series A Preferred
Stock” and shall consist of Two Million Seven Hundred Twenty–Seven Thousand Two Hundred
Seventy–Three (2,727,273) shares. The second series of Preferred Stock shall be designated
“Series B Preferred Stock” and shall consist of Six Million Four Hundred Sixty Thousand Six Hundred
Seventy-Five (6,460,675) shares. The third series of Preferred Stock shall be designated “Series C
Preferred Stock” and shall consist of Twenty Million Five Hundred Fifty-One Thousand One Hundred
Sixty-Three (20,551,163) shares.

ARTICLE IV

     The terms and provisions of the Common Stock and Preferred Stock are as follows:

     1. Definitions. For purposes of this Article IV, the following definitions shall
apply:

          (a) “Conversion Price” shall mean $1.10 per share for the Series A Preferred Stock,
$1.78 per share for the Series B Preferred Stock and $2.58 per share for the Series C Preferred
Stock (each subject to adjustment from time to time as set forth elsewhere herein).

 

 

          (b) “Convertible Securities” shall mean any evidences of indebtedness, shares or other
securities (other than shares of Preferred Stock) convertible into or exchangeable for Common
Stock.

          (c) “Corporation” shall mean Fluidigm Corporation.

          (d) “Dividend Rate” shall mean an annual rate of $0.11 per share for the Series A
Preferred Stock, an annual rate of $0.18 for the Series B Preferred Stock and an annual rate of
$0.26 per share for the Series C Preferred Stock (each subject to adjustment from time to time as
set forth elsewhere herein).

          (e) “Liquidation Preference” shall mean $1.10 per share for the Series A Preferred
Stock, $1.78 per share for the Series B Preferred Stock and $2.58 per share for the Series C
Preferred Stock (each subject to adjustment from time to time as set forth elsewhere herein).

          (f) “Options” shall mean rights, options or warrants to subscribe for, purchase or
otherwise acquire Common Stock or Convertible Securities.

          (g) “Original Issue Price” shall mean $1.10 per share for the Series A Preferred
Stock, $1.78 for the Series B Preferred Stock and $2.58 per share for the Series C Preferred Stock
(each subject to adjustment from time to time as set forth elsewhere herein).

          (h) “Preferred Stock” shall mean the Series A Preferred Stock, Series B Preferred
Stock and the Series C Preferred Stock.

     2. Dividends.

          (a) Series C Preferred Stock. The holders of outstanding shares of Series C Preferred
Stock shall be entitled to receive dividends, when and as declared by the Board of Directors, out
of any assets at the time legally available therefor, at the Dividend Rate specified for such
shares of Preferred Stock payable in preference and priority to any declaration or payment of any
distribution on Series A Preferred Stock, Series B Preferred Stock or Common Stock (collectively,
the “Junior Stock”) of the Corporation other than a dividend payable solely in Common Stock. No
distributions shall be made with respect to the Junior Stock during any fiscal year of the
Corporation, other than dividends on the Common Stock payable solely in Common Stock, until all
declared dividends on the Series C Preferred Stock have been paid or set apart for payment to the
Series C Preferred Stock holders. The right to receive dividends on shares of Series C Preferred
Stock shall not be cumulative, and no right to such dividends shall accrue to holders of Series C
Preferred Stock by reason of the fact that dividends on said shares are not declared or paid in any
year.

          (b) Series A Preferred Stock and Series B Preferred Stock. The holders of outstanding
shares of Series A Preferred Stock and Series B Preferred Stock shall be entitled to receive
dividends, when and as declared by the Board of Directors, out of any assets at the time legally
available therefor, at the Dividend Rate specified for such shares of Preferred Stock payable in
preference and priority to any declaration or payment of any distribution on Common Stock of the
Corporation other than a dividend payable solely in Common Stock. No distributions shall be made

-2-

 

with respect to the Common Stock, other than dividends payable solely in Common Stock, until
all declared dividends on the Preferred Stock have been paid or set apart for payment to the
Preferred Stock holders. Payment of any dividends to the holders of the Series A Preferred Stock
and Series B Preferred Stock shall be on a pro-rata, pari passu basis in proportion to the Dividend
Rates for the Series A Preferred Stock and Series B Preferred Stock, as applicable. The right to
receive dividends on shares of Series A Preferred Stock and Series B Preferred Stock shall not be
cumulative, and no right to such dividends shall accrue to holders of Series A Preferred Stock or
Series B Preferred Stock by reason of the fact that dividends on said shares are not declared or
paid in any year.

          (c) Distribution. For purposes of this Section 2, unless the context otherwise
requires, a “distribution” shall mean the transfer of cash or other property without consideration
whether by way of dividend or otherwise, payable other than in Common Stock, or the purchase or
redemption of shares of the Corporation other than (i) repurchase of shares of Common Stock issued
to or held by employees, consultants, officers and directors of the Corporation or its subsidiaries
upon termination of their employment or services pursuant to agreements providing for the right of
said repurchase and at the original purchase price paid by such employees, consultants, officers
and directors; and (ii) repurchase of Common Stock issued to or held by employees, officers,
directors or consultants of the Corporation or its subsidiaries pursuant to rights of first refusal
contained in agreements providing for such rights, provided that such repurchase is unanimously
approved by the Board of Directors; and (iii) any other repurchase or redemption of capital stock
of the corporation unanimously approved by the Board of Directors and approved by the holders of
the majority of the Common Stock and the holders of more than two-thirds (2/3) of the outstanding
shares of the Preferred Stock, voting as separate classes.

          (d) Common Stock. Dividends may be paid on the Common Stock as and when declared by
the Board of Directors, subject to the prior dividend rights of the Preferred Stock and Section 6
below.

          (e) Non-Cash Distributions. Whenever a distribution provided for in this Section 2
shall be payable in property other than cash, the value of such distribution shall be deemed to be
the fair market value of such property as determined in good faith by the Board of Directors.

          (f) Consent to Certain Repurchases. As authorized by Section 402.5(c) of the
California Corporations Code, Sections 502, 503 and 506 of the California Corporations Code shall
not apply with respect to payments made by the Corporation in connection with (i) repurchase of
shares of Common Stock issued to or held by employees, consultants, officers and directors of the
Corporation or its subsidiaries upon termination of their employment or services pursuant to
agreements providing for the right of said repurchase and at the original purchase price paid by
such employees, consultants, officers and directors, and (ii) repurchase of Common Stock issued to
or held by employees, officers, directors or consultants of the Corporation or its subsidiaries
pursuant to rights of first refusal contained in agreements providing for such rights, provided
that such repurchase is unanimously approved by the Board of Directors, and (iii) any other
repurchase or redemption of capital stock of the Corporation unanimously approved by the Board of
Directors and approved by the holders of more than two-thirds (2/3) of the outstanding shares of
the Preferred Stock voting together as a single class.

-3-

 

     3. Liquidation Rights.

          (a) Series C Liquidation Preference. In the event of any liquidation, dissolution or
winding up of the Corporation, either voluntary or involuntary, the holders of the Series C
Preferred Stock shall be entitled to receive, prior and in preference to any distribution of any of
the assets of the Corporation to the holders of the Common Stock, the Series A Preferred Stock and
the Series B Preferred Stock by reason of their ownership of such stock, an amount per share for
each share of Series C Preferred Stock held by them equal to the sum of (i) the Liquidation
Preference for such shares and (ii) all declared and unpaid dividends on such share of Series C
Preferred Stock. If upon the liquidation, dissolution or winding up of the Corporation, the assets
of the Corporation legally available for distribution to the holders of the Series C Preferred
Stock are insufficient to permit the payment to such holders of the full amounts specified in this
Section 3(a), then the entire assets of the Corporation legally available for distribution shall be
distributed with equal priority and pro rata among the holders of the Series C
Preferred Stock in proportion to the full amounts they would otherwise be entitled to receive
pursuant to this Section 3(a).

          (b) Series B Liquidation Preference. After the payment to the holders of Series C
Preferred Stock of the full amounts specified in Section 3(a) above, the holders of the Series B
Preferred Stock shall be entitled to receive, prior and in preference to any distribution of any of
the remaining assets of the Corporation to the holders of the Common Stock and the Series A
Preferred Stock by reason of their ownership of such stock, an amount per share for each share of
Series B Preferred Stock held by them equal to the sum of (i) the Liquidation Preference for such
shares and (ii) all declared and unpaid dividends on such share of Series B Preferred Stock. If
the remaining assets of the Corporation legally available for distribution to the holders of the
Series B Preferred Stock are insufficient to permit the payment to such holders of the full amounts
specified in this Section 3(b), then the entire remaining assets of the Corporation legally
available for distribution shall be distributed with equal priority and pro rata
among the holders of the Series B Preferred Stock in proportion to the full amounts they would
otherwise be entitled to receive pursuant to this Section 3(b).

          (c) Series A Liquidation Preference. After the payment to the holders of Series C
Preferred Stock and the holders of Series B Preferred Stock of the full amounts specified in
Sections 3(a) and 3(b) above, the holders of the Series A Preferred Stock shall be entitled to
receive, prior and in preference to any distribution of any of the remaining assets of the
Corporation to the holders of the Common Stock by reason of their ownership of such stock, an
amount per share for each share of Series A Preferred Stock held by them equal to the sum of
(i) the Liquidation Preference for such shares and (ii) all declared and unpaid dividends on such
share of Series A Preferred Stock. If remaining assets of the Corporation legally available for
distribution to the holders of the Series A Preferred Stock are insufficient to permit the payment
to such holders of the full amounts specified in this Section 3(c), then the entire remaining
assets of the Corporation legally available for distribution shall be distributed with equal
priority and pro rata among the holders of the Series A Preferred Stock in
proportion to the full amounts they would otherwise be entitled to receive pursuant to this
Section 3(c).

          (d) Remaining Assets. After the payment to the holders of Preferred Stock of the full
amounts specified in Sections 3(a), 3(b) and 3(c) above, the entire remaining assets of the

 -4-

 

Corporation legally available for distribution shall be distributed pro-rata to
holders of the Common Stock of the Corporation in proportion to the number of shares of Common
Stock held by them.

          (e) Shares Not Treated as Both Preferred Stock and Common Stock in Any Distribution.
Shares of Preferred Stock shall not be entitled to be converted into shares of Common Stock in
order to participate in any distribution, or series of distributions, as shares of Common Stock,
without first foregoing participation in the distribution, or series of distributions, as shares of
Preferred Stock.

          (f) Reorganization. For purposes of this Section 3, a liquidation, dissolution or
winding up of the Corporation shall be deemed to be occasioned by, or to include, (i) the
acquisition of the Corporation by another entity by means of any transaction or series of related
transactions (including, without limitation, any stock acquisition, reorganization, merger or
consolidation but excluding any merger effected exclusively for the purpose of changing the
domicile of the Corporation) other than a transaction or series of transactions in which the
holders of the voting securities of the Corporation outstanding immediately prior to such
transaction or series of transactions continue to retain (either by such voting securities
remaining outstanding or by such voting securities being converted into voting securities of the
surviving entity), as a result of shares in the Corporation held by such holders prior to such
transaction, at least fifty percent (50%) of the total voting power represented by the voting
securities of the Corporation or such surviving entity outstanding immediately after such
transaction or series of transactions; or (ii) a sale, transfer, lease or other conveyance of all
or substantially all of the assets of the Corporation.

          (g) Valuation of Non-Cash Consideration. If any assets of the Corporation distributed
to shareholders in connection with any liquidation, dissolution, or winding up of the Corporation
are other than cash, then the value of such assets shall be their fair market value as determined
in good faith by the Board of Directors, except that any securities to be distributed to
shareholders in a liquidation, dissolution, or winding up of the Corporation shall be valued as
follows:

               (i) If the securities are then traded on a national securities exchange or the Nasdaq Stock
Market System (or a similar national quotation system), then the value of the securities shall be
deemed to be to the average of the closing prices of the securities on such exchange or system over
the ten (10) trading day period ending five (5) trading days prior to the distribution;

               (ii) if the securities are actively traded over-the-counter, then the value of the securities
shall be deemed to be the average of the closing bid prices of the securities over the ten (10)
trading day period ending five (5) trading days prior to the distribution; or

               (iii) if there is no active public market for the securities, then the value of the securities
shall be deemed to be the fair market value thereof as determined in good faith by the Board of
Directors which determination shall include consideration of the illiquidity of the securities.

-5-

 

     In the event of a merger or other acquisition of the Corporation by another entity, the
distribution date shall be deemed to the date such transaction closes.

     For the purposes of this subsection 3(g), “trading day” shall mean any day on which the
exchange or system on which the securities to be distributed are traded is open, and “closing
prices” or “closing bid prices” shall be deemed to be: (i) for securities traded primarily on the
New York Stock Exchange, the American Stock Exchange or Nasdaq, the last reported trade price or
sale price, as the case may be, at 4:00 p.m., New York time, on that day and (ii) for securities
listed or traded on other exchanges, markets and systems, the market price as of the end of the
“regular hours” trading period that is generally accepted as such for such exchange, market or
system. If, after the date hereof, the benchmark times generally accepted in the securities
industry for determining the market price of a stock as of a given trading day shall change from
those set forth above, the fair market value shall be determined as of such other generally
accepted benchmark times.

     4. Conversion. The holders of the Preferred Stock shall have conversion rights as
follows (the “Conversion Rights”):

          (a) Right to Convert. Subject to Section 4(c), each share of Preferred Stock shall be
convertible, at the option of the holder thereof, at any time after the date of issuance of such
share at the office of the Corporation or any transfer agent for the Preferred Stock, into that
number of fully-paid, nonassessable shares of Common Stock determined by dividing the Original
Issue Price for the relevant series by the Conversion Price for such series. (The number of shares
of Common Stock into which each share of Preferred Stock of a series may be converted is
hereinafter referred to as the “Conversion Rate” for each such series.) Upon any decrease or
increase in the Conversion Price for any series of Preferred Stock, as described in this Section 4,
the Conversion Rate for such series shall be appropriately increased or decreased.

          (b) Automatic Conversion. Each share of Preferred Stock shall automatically be
converted into fully-paid, non-assessable shares of Common Stock at the then effective Conversion
Rate for such share (i) immediately prior to the closing of a firm commitment underwritten initial
public offering on Form S-1 (or successor form) filed under the Securities Act of 1933, as amended
(the “Securities Act”), covering the offer and sale of the Corporation’s Common Stock, provided
that the offering price per share is not less than $7.10 (as adjusted for stock splits or stock
dividends) and the aggregate gross proceeds to the Corporation are not less than $25,000,000, or
(ii) upon the receipt by the Corporation of a written request for such conversion from the holders
of two-thirds of the shares of Preferred Stock then outstanding, or, if later, the effective date
for conversion specified in such requests (each of the events referred to in (i) and (ii) being
hereinafter referred to as an “Automatic Conversion Event”).

          (c) Mechanics of Conversion. No fractional shares of Common Stock shall be issued
upon conversion of Preferred Stock. In lieu of any fractional shares to which the holder would
otherwise be entitled, the Corporation shall pay cash equal to such fraction multiplied by the then
fair market value of a share of Common Stock as determined by the Board of Directors. For such
purpose, all shares of Preferred Stock held by each holder of Preferred Stock shall be aggregated,
and any resulting fractional share of Common Stock shall be paid in cash. Before any holder of
Preferred Stock shall be entitled to convert the same into full shares of Common Stock, and

-6-

 

to receive certificates therefor, he shall surrender the certificate or certificates therefor,
duly endorsed, at the office of the Corporation or of any transfer agent for the Preferred Stock,
and shall give written notice to the Corporation at such office that he elects to convert the same;
provided, however, that on the date of an Automatic Conversion Event, the
outstanding shares of Preferred Stock shall be converted automatically without any further action
by the holders of such shares and whether or not the certificates representing such shares are
surrendered to the Corporation or its transfer agent; provided further, however, that the
Corporation shall not be obligated to issue certificates evidencing the shares of Common Stock
issuable upon such Automatic Conversion Event unless either the certificates evidencing such shares
of Preferred Stock are delivered to the Corporation or its transfer agent as provided above, or the
holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen
or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation
from any loss incurred by it in connection with such certificates. On the date of the occurrence
of an Automatic Conversion Event, each holder of record of shares of Preferred Stock shall be
deemed to be the holder of record of the Common Stock issuable upon such conversion,
notwithstanding that the certificates representing such shares of Preferred Stock shall not have
been surrendered at the office of the Corporation, that notice from the Corporation shall not have
been received by any holder of record of shares of Preferred Stock, or that the certificates
evidencing such shares of Common Stock shall not then be actually delivered to such holder.

     The Corporation shall, as soon as practicable after such delivery, or after such agreement and
indemnification, issue and deliver at such office to such holder of Preferred Stock, a certificate
or certificates for the number of shares of Common Stock to which he shall be entitled as aforesaid
and a check payable to the holder in the amount of any cash amounts payable as the result of a
conversion into fractional shares of Common Stock, plus any declared and unpaid dividends on the
converted Preferred Stock. Such conversion shall be deemed to have been made immediately prior to
the close of business on the date of such surrender of the shares of Preferred Stock to be
converted, and the person or persons entitled to receive the shares of Common Stock issuable upon
such conversion shall be treated for all purposes as the record holder or holders of such shares of
Common Stock on such date; provided, however, that if the conversion is in connection with
an underwritten offer of securities registered pursuant to the Securities Act the conversion may,
at the option of any holder tendering Preferred Stock for conversion, be conditioned upon the
closing of the sale of securities pursuant to such offering, in which event the person(s) entitled
to receive the Common Stock issuable upon such conversion of the Preferred Stock shall not be
deemed to have converted such Preferred Stock until immediately prior to the closing of the sale of
such securities.

          (d) Adjustments to Conversion Price for Diluting Issues.

               (i) Special Definition. For purposes of this paragraph 4(d), “Additional Shares of
Common” shall mean all shares of Common Stock issued (or, pursuant to paragraph 4(d)(iii), deemed
to be issued) by the Corporation after the filing of these Articles of Incorporation, other than:

                    (1) shares of Common Stock issued or issuable upon conversion of shares of Preferred Stock;

-7-

 

                    (2) shares of Common Stock issued or issuable to officers, directors and employees of, or
consultants and other service providers to, the Corporation pursuant to stock grants, option plans,
purchase plans or other employee stock incentive programs or arrangements approved by the Board of
Directors or upon exercise of options or warrants granted to such parties pursuant to any such
plan, program or arrangement;

                    (3) shares of Common Stock issued upon the exercise or conversion of Options or Convertible
Securities outstanding as of the date of the filing of these Articles of Incorporation;

                    (4) shares of Common Stock issued or issuable as a dividend or distribution on Preferred Stock
or pursuant to any event for which adjustment is made pursuant to paragraph 4(e), 4(f) or 4(g)
hereof;

                    (5) shares of Common Stock issued in a registered public offering under the Securities Act
pursuant to which all outstanding shares of Preferred Stock are automatically converted into Common
Stock pursuant to an Automatic Conversion Event;

                    (6) shares of Common Stock issued or issuable pursuant to the acquisition of another
corporation by the Corporation by merger, purchase of substantially all of the assets or other
reorganization or to a joint venture agreement, provided, that such issuances are unanimously
approved by the Board of Directors; and

                    (7) shares of Common Stock issued or issuable to banks, equipment lessors or other financial
institutions pursuant to a commercial leasing or debt financing transaction approved by the Board
of Directors.

               (ii) No Adjustment of Conversion Price. No adjustment in the Conversion Price of a
particular series of Preferred Stock shall be made in respect of the issuance of Additional Shares
of Common unless the consideration per share (as determined pursuant to paragraph 4(d)(v)) for an
Additional Share of Common issued or deemed to be issued by the Corporation is less than the
Conversion Price in effect on the date of, and immediately prior to such issue, for such series of
Preferred Stock.

               (iii) Deemed Issue of Additional Shares of Common. In the event the Corporation at
any time or from time to time after the date of the filing of these Articles of Incorporation shall
issue any Options or Convertible Securities or shall fix a record date for the determination of
holders of any class of securities entitled to receive any such Options or Convertible Securities,
then the maximum number of shares (as set forth in the instrument relating thereto without regard
to any provisions contained therein for a subsequent adjustment of such number) of Common Stock
issuable upon the exercise of such Options or, in the case of Convertible Securities, the
conversion or exchange of such Convertible Securities or, in the case of Options for Convertible
Securities, the exercise of such Options and the conversion or exchange of the underlying
securities, shall be deemed to have been issued as of the time of such issue or, in case such a
record date shall have been fixed, as of the close of business on such record date, provided that
in any such case in which shares are deemed to be issued:

-8-

 

                    (1) no further adjustment in the Conversion Price of the Preferred Stock shall be made upon
the subsequent issue of Convertible Securities or shares of Common Stock in connection with the
exercise of such Options or conversion or exchange of such Convertible Securities;

                    (2) if such Options or Convertible Securities by their terms provide, with the passage of time
or otherwise, for any increase in the consideration payable to the Corporation, or decrease in the
number of shares of Common Stock issuable, upon the exercise, conversion or exchange thereof, the
Conversion Price of the Preferred Stock computed upon the original issue thereof (or upon the
occurrence of a record date with respect thereto), and any subsequent adjustments based thereon,
shall, upon any such increase or decrease becoming effective, be recomputed to reflect such
increase or decrease insofar as it affects such Options or the rights of conversion or exchange
under such Convertible Securities;

                    (3) no readjustment pursuant to clause (2) above shall have the effect of increasing the
Conversion Price of the Preferred Stock to an amount which exceeds the lower of (i) the Conversion
Price of the Preferred Stock on the original adjustment date, or (ii) the Conversion Price of the
Preferred Stock that would have resulted from any issuance of Additional Shares of Common between
the original adjustment date and such readjustment date;

                    (4) upon the expiration of any such Options or any rights of conversion or exchange under such
Convertible Securities which shall not have been exercised, the Conversion Price computed upon the
original issue thereof (or upon the occurrence of a record date with respect thereto) and any
subsequent adjustments based thereon shall, upon such expiration, be recomputed as if:

                         (A) in the case of Convertible Securities or Options for Common Stock, the only Additional
Shares of Common issued were the shares of Common Stock, if any, actually issued upon the exercise
of such Options or the conversion or exchange of such Convertible Securities and the consideration
received therefor was the consideration actually received by the Corporation for the issue of such
exercised Options plus the consideration actually received by the Corporation upon such exercise or
for the issue of all such Convertible Securities which were actually converted or exchanged, plus
the additional consideration, if any, actually received by the Corporation upon such conversion or
exchange, and

                         (B) in the case of Options for Convertible Securities, only the Convertible Securities, if
any, actually issued upon the exercise thereof were issued at the time of issue of such Options,
and the consideration received by the Corporation for the Additional Shares of Common deemed to
have been then issued was the consideration actually received by the Corporation for the issue of
such exercised Options, plus the consideration deemed to have been received by the Corporation
(determined pursuant to Section 4(d)(v)) upon the issue of the Convertible Securities with respect
to which such Options were actually exercised; and

                    (5) if such record date shall have been fixed and such Options or Convertible Securities are
not issued on the date fixed therefor, the adjustment previously made in the Conversion Price which
became effective on such record date shall be canceled as of the close of

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business on such record date, and thereafter the Conversion Price shall be adjusted pursuant
to this paragraph 4(d)(iii) as of the actual date of their issuance.

               (iv) Adjustment of Conversion Price Upon Issuance of Additional Shares of Common. In
the event this Corporation shall issue Additional Shares of Common (including Additional Shares of
Common deemed to be issued pursuant to paragraph 4(d)(iii)) without consideration or for a
consideration per share less than the applicable Conversion Price of a series of Preferred Stock in
effect on the date of and immediately prior to such issue, then, the Conversion Price of the
affected series of Preferred Stock shall be reduced, concurrently with such issue, to a price
(calculated to the nearest cent) determined by multiplying such Conversion Price by a fraction, the
numerator of which shall be the number of shares of Common Stock outstanding immediately prior to
such issue plus the number of shares of Common Stock which the aggregate consideration received by
the Corporation for the total number of Additional Shares of Common so issued would purchase at
such Conversion Price, and the denominator of which shall be the number of shares of Common Stock
outstanding immediately prior to such issue plus the number of such Additional Shares of Common so
issued. For the purposes of this Subsection 4(d)(iv), all shares of Common Stock issuable upon
exercise of outstanding Options or the conversion of outstanding Convertible Securities and shares
of Preferred Stock, and all Additional Shares of Common deemed issued pursuant to
Subsection 4(d)(iii) hereof, shall be deemed to be outstanding.

               (v) Determination of Consideration. For purposes of this subsection 4(d), the
consideration received by the Corporation for the issue (or deemed issue) of any Additional Shares
of Common shall be computed as follows:

                    (1) Cash and Property. Such consideration shall:

                         (A) insofar as it consists of cash, be computed at the aggregate amount of cash received by
the Corporation excluding amounts paid or payable for accrued interest or accrued dividends;

                         (B) insofar as it consists of property other than cash, be computed at the fair market value
thereof at the time of such issue, as determined in good faith by the Board of Directors; and

                         (C) in the event Additional Shares of Common are issued together with other shares or
securities or other assets of the Corporation for consideration which covers both, be the
proportion of such consideration so received, computed as provided in clauses (a) and (b) above, as
reasonably determined in good faith by the Board of Directors.

                    (2) Options and Convertible Securities. The consideration per share received by the
Corporation for Additional Shares of Common deemed to have been issued pursuant to
paragraph 4(d)(iii) shall be determined by dividing

                         (X) the total amount, if any, received or receivable by the Corporation as consideration for
the issue of such Options or Convertible Securities, plus the minimum aggregate amount of
additional consideration (as set forth in the instruments relating

-10-

 

thereto, without regard to any provision contained therein for a subsequent adjustment of such
consideration) payable to the Corporation upon the exercise of such Options or the conversion or
exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the
exercise of such Options for Convertible Securities and the conversion or exchange of such
Convertible Securities by

                         (Y) the maximum number of shares of Common Stock (as set forth in the instruments relating
thereto, without regard to any provision contained therein for a subsequent adjustment of such
number) issuable upon the exercise of such Options or the conversion or exchange of such
Convertible Securities.

          (e) Adjustments for Subdivisions or Combinations of Common Stock. In the event the
outstanding shares of Common Stock shall be subdivided (by stock split, by payment of a stock
dividend or otherwise), into a greater number of shares of Common Stock, the Conversion Price of
each series of Preferred Stock in effect immediately prior to such subdivision shall, concurrently
with the effectiveness of such subdivision, be proportionately decreased. In the event the
outstanding shares of Common Stock shall be combined (by reclassification or otherwise) into a
lesser number of shares of Common Stock, the Conversion Prices in effect immediately prior to such
combination shall, concurrently with the effectiveness of such combination, be proportionately
increased.

          (f) Adjustments for Subdivisions or Combinations of Preferred Stock. In the event the
outstanding shares of Preferred Stock or a series of Preferred Stock shall be subdivided (by stock
split, by payment of a stock dividend or otherwise), into a greater number of shares of Preferred
Stock, the Dividend Rate, Original Issue Price and Liquidation Preference of the affected series of
Preferred Stock in effect immediately prior to such subdivision shall, concurrently with the
effectiveness of such subdivision, be proportionately decreased. In the event the outstanding
shares of Preferred Stock or a series of Preferred Stock shall be combined (by reclassification or
otherwise) into a lesser number of shares of Preferred Stock, the Dividend Rate, Original Issue
Price and Liquidation Preference of the affected series of Preferred Stock in effect immediately
prior to such combination shall, concurrently with the effectiveness of such combination, be
proportionately increased.

          (g) Adjustments for Reclassification, Exchange and Substitution. Subject to Section 3
above (“Liquidation Rights”), if the Common Stock issuable upon conversion of the Preferred Stock
shall be changed into the same or a different number of shares of any other class or classes of
stock, whether by capital reorganization, reclassification or otherwise (other than a subdivision
or combination of shares provided for above), then, in any such event, in lieu of the number of
shares of Common Stock which the holders would otherwise have been entitled to receive each holder
of such Preferred Stock shall have the right thereafter to convert such shares of Preferred Stock
into a number of shares of such other class or classes of stock which a holder of the number of
shares of Common Stock deliverable upon conversion of such series of Preferred Stock immediately
before that change would have been entitled to receive in such reorganization or reclassification,
all subject to further adjustment as provided herein with respect to such other shares.

-11-

 

          (h) No Impairment. The Corporation will not through any reorganization, transfer of
assets, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or
seek to avoid the observance or performance of any of the terms to be observed or performed
hereunder by the Corporation but will at all times in good faith assist in the carrying out of all
the provisions of this Section 4 and in the taking of all such action as may be necessary or
appropriate in order to protect the Conversion Rights of the holders of Preferred Stock against
impairment. Notwithstanding the foregoing, nothing in this Section 4(h) shall prohibit the
Corporation from amending its Articles of Incorporation with the requisite consent of its
shareholders and the board of directors.

          (i) Certificate as to Adjustments. Upon the occurrence of each adjustment or
readjustment of the Conversion Price pursuant to this Section 4, the Corporation at its expense
shall promptly compute such adjustment or readjustment in accordance with the terms hereof and
furnish to each holder of Preferred Stock a certificate setting forth such adjustment or
readjustment and showing in detail the facts upon which such adjustment or readjustment is based.
The Corporation shall, upon the written request at any time of any holder of Preferred Stock,
furnish or cause to be furnished to such holder a like certificate setting forth (i) such
adjustments and readjustments, (ii) the Conversion Price at the time in effect and (iii) the number
of shares of Common Stock and the amount, if any, of other property which at the time would be
received upon the conversion of Preferred Stock.

          (j) Notices of Record Date. In the event that this Corporation shall propose at any
time:

               (i) to declare any dividend or distribution upon its Common Stock, whether in cash, property,
stock or other securities, whether or not a regular cash dividend and whether or not out of
earnings or earned surplus;

               (ii) to effect any reclassification or recapitalization of its Common Stock outstanding
involving a change in the Common Stock; or

               (iii) to voluntarily liquidate or dissolve or to enter into any transaction deemed to be a
liquidation, dissolution or winding up of the corporation pursuant to Section 3(f);

then, in connection with each such event, this Corporation shall send to the holders of the
Preferred Stock at least 14 days’ prior written notice of the date on which a record shall be taken
for such dividend, distribution or subscription rights (and specifying the date on which the
holders of Common Stock shall be entitled thereto) or for determining rights to vote in respect of
the matters referred to in (ii) and (iii) above.

     Each such written notice shall be given by first class mail, postage prepaid, addressed to the
holders of Preferred Stock at the address for each such holder as shown on the books of this
Corporation.

     The right of the holders of the Preferred Stock to notice hereunder may be waived, either
prospectively or retroactively and either generally or in a particular instance, by the holders of
more

-12-

 

than two-thirds (2/3) of the outstanding shares of the Preferred Stock voting together as a
single class.

          (k) Reservation of Stock Issuable Upon Conversion. The Corporation shall at all times
reserve and keep available out of its authorized but unissued shares of Common Stock solely for the
purpose of effecting the conversion of the shares of the Preferred Stock, such number of its shares
of Common Stock as shall from time to time be sufficient to effect the conversion of all then
outstanding shares of the Preferred Stock; and if at any time the number of authorized but unissued
shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding
shares of the Preferred Stock, the Corporation will take such corporate action as may, in the
opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock
to such number of shares as shall be sufficient for such purpose.

          (l) Waiver of Adjustment of Conversion Price. Notwithstanding anything herein to the
contrary, any downward adjustment of the Conversion Price of any series of Preferred Stock may be
waived, either prospectively or retroactively and either generally or in a particular instance, by
the consent or vote of the holders of more than two-thirds (2/3) of the outstanding shares of such
series. Any such waiver shall bind all future holders of shares of such series of Preferred Stock.

     5. Voting.

          (a) Restricted Class Voting. Except as otherwise expressly provided herein or as
required by law, the holders of Preferred Stock and the holders of Common Stock shall vote together
and not as separate classes.

          (b) No Series Voting. Other than as provided herein or required by law, there shall
be no series voting.

          (c) Preferred Stock. Each holder of Preferred Stock shall be entitled to the number
of votes equal to the number of shares of Common Stock into which the shares of Preferred Stock
held by such holder could be converted as of the record date. The holders of shares of the
Preferred Stock shall be entitled to vote on all matters on which the Common Stock shall be
entitled to vote. Holders of Preferred Stock shall be entitled to notice of any shareholders’
meeting in accordance with the Bylaws of the Corporation. Fractional votes shall not, however, be
permitted and any fractional voting rights resulting from the above formula (after aggregating all
shares into which shares of Preferred Stock held by each holder could be converted), shall be
disregarded.

          (d) Common Stock. Each holder of shares of Common Stock shall be entitled to one vote
for each share thereof held.

          (e) Election of Directors. So long as at least 2,000,000 shares (as adjusted for
Recapitalizations) of Preferred Stock remain outstanding, the holders of Series C Preferred Stock,
voting as a separate class, shall be entitled to elect three (3) members of the Corporation’s Board
of Directors at each meeting or pursuant to each consent of the Corporation’s shareholders for the
election of directors. Any additional members of the Corporation’s Board of Directors shall be
elected by the holders of Common Stock, Series A Preferred Stock and Series B Preferred Stock,

-13-

 

voting together as a single class. If a vacancy on the Board of Directors is to be filled by
the Board of Directors, only directors elected by the same class or classes of shareholders as
those who would be entitled to vote to fill such vacancy shall vote to fill such vacancy.

     6. Amendments and Changes Requiring Approval of Preferred Stock. As long as any of
the Preferred Stock shall be issued and outstanding, the Corporation shall not, without first
obtaining the approval (by vote or written consent as provided by law) of the holders of more than
two-thirds (2/3) of the outstanding shares of the Preferred Stock voting together as a single
class:

          (a) amend, alter or repeal any provision of the Articles of Incorporation or By-laws of the
Corporation if such action would adversely alter the rights, preferences, privileges or powers of,
or restrictions provided for the benefit of the Preferred Stock or any series thereof;

          (b) enter into any transaction or series of related transactions deemed to be a liquidation,
dissolution or winding up of the Corporation pursuant to Section 3(f) above.

          (c) voluntarily liquidate or dissolve;

          (d) declare or pay any distribution (as defined in Section 2(c)) with respect to the Common
Stock of the Corporation;

          (e) permit any subsidiary of the Corporation to sell securities to a third party;

          (f) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Preferred Stock;

          (g) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, liquidation, redemption,
conversion or other rights senior to or on a parity with any series of Preferred Stock or with
respect to voting senior to any series of Preferred Stock;

          (h) increase or decrease the authorized number of directors of the Corporation; or

          (i) amend this Section 6.

     7. Amendments and Changes Requiring the Approval of the Series C Preferred Stock. As
long as any of the Series C Preferred Stock shall be issued and outstanding, the Corporation shall
not, without first obtaining the approval (by vote or written consent as provided by law) of the
holders of two-thirds of the outstanding shares of the Series C Preferred Stock:

          (a) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series C Preferred Stock in a manner different from
any other series of Preferred Stock;

          (b) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series C Preferred Stock;

-14-

 

          (c) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, payments upon liquidation
or other rights senior to or on a parity with the Series C Preferred Stock or with respect to
voting senior to the Series C Preferred Stock;

          (d) declare or pay any distribution (as defined in Section 2(c)) with respect to the Common
Stock or Preferred Stock of the Corporation;

          (e) increase the authorized number of directors of the Corporation above nine (9); or

          (f) amend this Section 7.

     8. Amendments and Changes Requiring the Approval of the Series B Preferred Stock. As
long as any of the Series B Preferred Stock shall be issued and outstanding, the Corporation shall
not, without first obtaining the approval (by vote or written consent as provided by law) of the
holders of two-thirds of the outstanding shares of the Series B Preferred Stock:

          (a) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series B Preferred Stock in a manner different from
any other series of Preferred Stock;

          (b) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series B Preferred Stock; or

          (c) amend this Section 8.

     9. Status of Converted Stock. In the event any shares of Preferred Stock shall be
converted pursuant to Article 4 hereof, then the shares so converted shall be cancelled and shall
not be issuable by the Corporation. The Articles of Incorporation shall be appropriately amended
to effect the corresponding reduction in the Corporation’s authorized capital stock.

     10. Notices. Any notice required by the provisions of this Article IV to be given to
the holders of Preferred Stock shall be deemed given if deposited in the United States mail,
postage prepaid, and addressed to each holder of record at such holder’s address appearing on the
books of the Corporation.

ARTICLE V

     1. Limitation of Directors’ Liability. The liability of the directors of this
Corporation for monetary damages shall be eliminated to the fullest extent permissible under
California law.

     2. Indemnification of Corporate Agents. This Corporation is authorized to provide
indemnification of agents (as defined in Section 317 of the California Corporations Code) through
bylaw provisions, agreements with agents, votes of shareholders or disinterested directors or

-15-

 

otherwise, in excess of the indemnification otherwise permitted by Section 317 of the
California Corporations Code, subject only to the applicable limits set forth in Section 204 of the
California Corporations Code with respect to actions for breach of duty to this Corporation and its
shareholders.

     3. Repeal or Modification. Any repeal or modification of the foregoing provisions of
this Article V shall not adversely affect any right of indemnification or limitation of liability
of an agent of this Corporation relating to acts or omissions occurring prior to such repeal or
modification.

(THE GREAT SEAL OF THE STATE OF CALIFORNIA - OFFICE OF THE SECRETARY OF STATE)

-16-

 

Exhibit d

Notice of Borrowing

                    , ________

Lighthouse
Capital Partners V, L.P.

500 Drake’s Landing Road

Greenbrae, CA 94904-3011

Ladies and Gentlemen:

     Reference
is made to the Loan and Security Agreement No. 4561 dated as of March 29, 2005 (as
it has been and may be amended from time to time, the “Loan Agreement,” initially capitalized
terms used herein as defined therein), between Lighthouse Capital Partners V, L.P. and
Fluidigm Corporation (the “Company”)

     The undersigned is the President and CEO of the Company, and hereby irrevocably requests an
Advance under the Loan Agreement, and in that connection certifies as follows:

     1. The amount of the proposed Advance is $                    . The business day of the proposed Advance is                     .

     2. The
Loan Commencement Date for this Advance shall be March 1, 2006.

     3. As of this date, no Event of Default, or event which with notice or the passage of time
would constitute an Event of Default, has occurred and is continuing, or will result from the
making of the proposed Advance, and the representations and warranties of the Company contained in
Section 5 of the Loan Agreement are true and correct in all material respects.

     4. No event that could reasonably be expected to have a material adverse effect on the
ability of Borrower to fulfill its obligations under the Loan Agreement has occurred since the
date of the most recent financial statements, submitted to you by the Company.

     The Company agrees to notify you promptly before the funding of the Advance if any of the
matters to which I have certified above shall not be true and correct
on the Funding Date.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

1

 

Exhibit e

Incumbency Certificate

     The undersigned, William Smith, hereby certifies that:

1. He/She is the duly elected and acting General Counsel and Vice
President of Legal Affairs of
Fluidigm
Corporation, a California
corporation (the “Company”).

2. That on the date hereof, each person listed below holds the office in the Company indicated
opposite his or her name and that the signature appearing thereon is the genuine signature of each
such person:

	 	 	 	 	 	 	 
	NAME	 	OFFICE	 	SIGNATURE	 	 
	 
	 	 	 	 	 	 
	Gajus Worthington

	 	President and CEO	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 
	 	 
	William Smith

	 	General Counsel and Vice 

President of Legal Affairs	 	 
	 	 

3.
Attached hereto as Exhibit A is a true and correct copy of the Articles of Incorporation of the
Company, as amended, as in effect as of the date hereof.

4. Attached hereto as Exhibit B is a true and correct copy of the Bylaws of the Company, as
amended, as in effect as of the date hereof.

5. Attached hereto as Exhibit C is a copy of the resolutions of the Board of Directors of the
Company authorizing and approving the Company’s execution, delivery and performance of a loan
facility with Lighthouse Capital Partners V, L.P.

     IN WITNESS WHEREOF, the undersigned has executed this Incumbency Certificate on March
29, 2005.

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	
	 	 

	 	 
	 

	 	Name:
	 	 

William Smith
	 	 
	 
	 	 	Title:	 	General Counsel and Vice President of Legal Affairs

     I, the President and CEO of the Company, do hereby certify that William Smith is the duly
qualified, elected and acting General Counsel and Vice President of Legal Affairs of the Company
and that the above signature is his or her genuine signature.

     IN WITNESS WHEREOF, the undersigned has executed and delivered this Officer’s Certificate on
March 29, 2005.

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	
	 	 

	 	 
	 

	 	Name:
	 	 

Gajus Worthington
	 	 
	 
	 

	 	Title:
	 	President and CEO	 	 

1

 

 

Exhibit f

Officer’s Certificate

     The undersigned, to induce Lighthouse Capital Partners V, L.P. (“Lender”), to extend or
continue financial accommodations to Fluidigm Corporation, a California corporation (the
“Borrower”) pursuant to the terms of that certain
Loan and Security Agreement dated March 29, 2005
(the “Loan Agreement”), hereby certifies that on the date hereof:

	 	1.	 	I am the duly elected and acting                      of Borrower.
	 
	 	2.	 	I am a Responsible Officer as that term is defined in the Loan Agreement.
	 
	 	3.	 	The information submitted herewith complies with Sections
5.7 and 6.2 of the Loan
Agreement.
	 
	 	4.	 	The financial statements delivered herewith fairly present the financial condition of
Borrower
	 
	 	5.	 	Borrower is currently able to meet its obligations as they come due.
	 
	 	6.	 	I understand that Lender is relying upon the truthfulness, accuracy and
completeness hereof in connection with the Loan Agreement.
	 
	 	7.	 	I will advise you if it comes to my attention that, as of the date hereof, the
information submitted herewith was not in fact true, correct and complete.

     IN WITNESS WHEREOF, the undersigned has executed this Officer’s Certificate on                     .

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	
	 	 

	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 

1

 

 

Exhibit g

Authorization for Automatic Payment

The
undersigned Fluidigm
Corporation (“Borrower”) authorizes
Lighthouse Capital Partners
V, L.P.
and any and all affiliated funds (collectively, “Lender”) and the bank / financial institution
(“Bank”) named below to initiate variable debit and/or credit entries to Borrower’s deposit,
checking or savings accounts as designated below and to cause funds transfers to an account of
Lender as payment of any and all amounts due under the Loan and Security Agreement between
Borrower and Lender dated March             , 2005 (the “Loan Agreement”).

1. Lender is hereby authorized to initiate
variable debit and/or credit transactions and
resulting funds transfers in Borrower’s designated accounts with respect to amounts calculated
by Lender to be due and owing to Lender by Borrower periodically under the Loan Agreement.
Borrower consents to all such debit and/or credit transactions and resulting funds transfers and
hereby authorizes Lender to take all such actions as may be required by Bank with respect to
such transactions. Borrower acknowledges and agrees that such credit and/or debit entries may be
made in amounts due under the Loan Agreement in order to cause timely payments as required by
the terms of the Loan Agreement.

2. Borrower hereby authorizes Lender to
release to Bank all information concerning Borrower that
may be necessary or desirable for Bank to investigate or recover any erroneous funds transfers
that may occur.

3. Borrower acknowledges and agrees that
all such debit and/or credit transactions and funds
transfers are intended to be made through an Automated Clearing House system and in compliance
with the NACHA Rules and in compliance with Bank’s security procedures.

4. Borrower represents and warrants that the account information set forth below is accurate and
complete and that each of the account(s) set forth below is a business account maintained in
Borrower’s name and for Borrower’s account.

This Consent shall be effective as of March 29, 2005 and shall remain in effect until the Loan
Agreement has been terminated. Any cancellation by Borrower of this consent shall (i) be made in
writing and (ii) delivered to Bank and Lender in such time as to afford Bank and Lender a
reasonable opportunity to act on said cancellation.

	 	 	 	 	 
	 

	 	          Wells Fargo Bank
 

(Name of Borrower’s Bank)
	 	 

	 	 	 	 	 	 	 	 	 
	 

	 	          420 Montgomery St.
	 	San Francisco
	 	CA
	 	94104 
	 	 	 
	 

	 	(Address of Bank)
	 	(City)
	 	(State)
	 	(Zip Code)

	 	 	 	 	 	 	 
	 

	 	Bank Routing Number
	 	     [***]
 

     (between these symbols “ /:” “:/” on bottom left of check)
	 	 

               Account Number:          [***]          (checking /deposit /savings)          (circle one)

               Copy of a voided check is attached to this form

	 	 	 	 	 	 	 
	Borrower Name:	 	Fluidigm
Corporation	 	 
	Borrower Address:	 	7100 Shoreline
Court	 	 
	 	 	South San Francisco.
CA 94080	 	 
	Authorized by:
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 

	 	 
	Date authorized:
	 	 	 	 	 	 
	 	 	 	 	 

Internal ACH Authorizations from Lender:

Approved by:        
                   
             Date:      
                   
      

1

 

Exhibit h

Negative Pledge Agreement

          This Negative Pledge Agreement is made as of March 29, 2005, by and between
Fluidigm Corporation (“Borrower”) and Lighthouse Capital Partners V, L.P.
(“Lender”).

In consideration of the Loan and Security Agreement between the parties of proximate date herewith
(the “Loan Agreement”), Borrower agrees as follows:

Except as otherwise permitted in the Loan Agreement, Borrower shall not sell, transfer, assign,
mortgage, pledge, lease, grant a security interest in, or encumber any of Borrower’s owned
intellectual property, including, without limitation, the following:

(a) Any and all copyright rights, copyright applications, copyright registration and like
protection in each work or authorship and derivative work thereof, whether published or
unpublished and whether or not the same also constitutes a trade secret, now or hereafter
existing, created, acquired or held (collectively, the “Copyrights”);

(b) Any and all trade secrets, and any and all intellectual property rights in computer software
and computer software products now or hereafter existing, created, acquired or held;

(c) Any and all design rights which may be available to Borrower now or hereafter existing,
created, acquired or held;

(d) All patents, patent applications and like protections, including, without limitation,
improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part
of the same, including, without limitation, the patents and patent applications (collectively, the
“Patents”);

(e) Any trademark and servicemark rights, whether registered or not, applications to register and
registrations of the same and like protections, and the entire goodwill of the business of
Borrower connected with and symbolized by such trademarks (collectively, the “Trademarks”);

(f) Any and all claims for damages by way of past, present and future infringements of any of the
rights included above, with the right, but not the obligation, to sue for an collect such damages
for said use or infringement of the intellectual property rights identified above;

(g) Any and all licenses or other rights to use any of the Copyrights, Patents or Trademarks and
all license fees and royalties arising from such use to the extent permitted by such license or
rights

(h) Any and all amendments, extensions, renewals and extensions of any of the Copyrights,
Patents or Trademarks; and

(i) Any and all proceeds and products of the foregoing, including, without limitation, all payments
under insurance or any indemnity or warranty payable in respect of
any of the foregoing.

It shall be an Event of Default under the Loan Agreement if there is a breach of any term of this
Negative Pledge Agreement. Borrower agrees to properly execute all documents reasonably required
by Lender in order to fulfill the intent and purposes hereof.

	 	 	 	 	 	 	 	 	 	 	 
	Fluidigm Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:	 	 	 	 	 	By: Lighthouse Management Partners V, L.L.C., its
	 
	 	 	 	 	 	 general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 By:	 	 	 	 
	Title:

	 	 	 	 	 	 	 	 

	 	 
	 

	 	 

	 	 	 	 Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

	 	 
	 

	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

	 	 

1

 

Exhibit I

Control Agreement

[In form and substance acceptable to Lender in its reasonable discretion]

 

1

 

RESTRICTED ACCOUNT AGREEMENT

(ACCOUNT RESTRICTED AFTER INSTRUCTIONS — Standing Wire Transfers)

This Restricted Account Agreement (the “Agreement”), dated as of the date specified at the end of
this Agreement, is entered into among Fluidigm Corporation (“Company”), Lighthouse Capital Partners
V, L.P. (“Secured Party”) and the Wells Fargo Bank identified in the signature block at the end of
this Agreement (“Bank”), and sets forth the rights of Secured Party and the obligations of Bank
with respect to the deposit account(s) of Company at Bank identified at the end of this Agreement
as the “Restricted Account(s)”. As used in this Agreement, the term “Restricted Account” refers,
individually and collectively, to each such deposit account.

	1.	 	Secured Party’s Interest in Restricted Account. Secured Party represents that it is either
(i) a lender who has extended credit to Company and has been granted a security interest in
the Restricted Account or (ii) such a lender and the agent for a group of such lenders (the
“Lenders”). Company hereby confirms, and Bank hereby acknowledges, the security interest
granted by Company to Secured Party in all of Company’s right, title and interest in and to
the Restricted Account and all sums now or hereafter on deposit in or payable or withdrawable
from the Restricted Account (the “Account Funds”). Except as specifically provided otherwise
in this Agreement, Company has given Secured Party complete control over the Account Funds. Secured
Party hereby appoints Bank as agent for Secured Party only for the purpose of perfecting
the security interest of Secured Party in the Account Funds while they are in the
Restricted Account. Company and Secured Party would like to use the Restricted Account
Service of Bank described in this Agreement (the “Service”) to further the arrangements
between Secured Party and Company regarding the Restricted Account and the Account Funds.
	 
	2.	 	Access to Restricted Account. Secured Party agrees that Company will be allowed access to the
Account Funds until Bank receives written instructions from Secured Party directing that
Company no longer have access to any Account Funds (the “Instructions”). Company agrees that
the Account Funds should be paid to Secured Party after Bank receives the Instructions, and
hereby irrevocably authorizes Bank to comply with the Instructions even if Company objects in
any way to the Instructions. Company further agrees that after Bank receives the Instructions,
Company will not have access to any Account Funds.
	 
	3.	 	Balance Reports. Bank agrees, at the telephone request of Secured Party on any Business Day
(a day on which Bank is open to conduct its regular banking business, other than a Saturday,
Sunday or public holiday), to make available to Secured Party a report (“Balance Report”)
showing the opening available balance in the Restricted Account as of the beginning of such
Business Day, either on-line or by facsimile transmission, at Bank’s option. Company expressly
consents to this transmission of information. Secured Party and Company understand and agree
that the opening available balance in the Restricted Account at the beginning of any Business
Day will be determined after deducting from the Restricted Account the face amount of all
Returned Items (as defined in Section 8 of this Agreement).
	 
	4.	 	Transfers to Secured Party. Bank agrees that on each Business Day after it receives the
Instructions it will transfer to the Secured Party’s account specified at the end of this
Agreement

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 1

 

 

	 	 	with the bank specified at the end of this Agreement (the “Secured Party Account”) the full
amount of the opening available balance in the Restricted Account at the beginning of such
Business Day. Bank will use the Fedwire system to make each funds transfer unless for any
reason the Fedwire system is unavailable, in which case Bank will determine the funds
transfer system to be used in making each funds transfer and the means by which each
transfer will be made. Bank, Secured Party and Company each agree that Bank will comply with
instructions given to Bank by Secured Party directing disposition of funds in the Restricted
Account without further consent by Company, subject otherwise to the terms of this Agreement
and Bank’s standard policies, procedures and documentation in effect from time to time
governing the type of disposition requested. Company authorizes all such transfers. Except
as otherwise required by law, Bank will not agree with any third party to comply with
instructions for disposition of funds in the Restricted Account originated by such third
party.
	 
	5.	 	Delays in Making Funds Transfers. Secured Party and Company understand that a funds transfer
may be delayed or not made if (a) the transfer would cause Bank to exceed any limitation on
its intra-day net funds position established in accordance with Federal Reserve or other
regulatory guidelines or to violate any other Federal Reserve or other regulatory risk control
program, or (b) the funds transfer would otherwise cause Bank to violate any applicable law or
regulation. If a funds transfer cannot be made or will be delayed, Bank will notify Secured
Party by telephone.
	 
	6.	 	Reliance on Identifying Numbers. If Secured Party indicates a name and an identifying number
for the bank of the person or entity to receive funds transfers out of the Restricted Account,
Secured Party and Company understand and agree that Bank may rely on the number Secured Party
indicates even if that number identifies a bank different from the bank Secured Party named.
If Secured Party indicates a name and an account number for the person or
entity to receive funds transfers out of the Restricted Account, Secured Party and Company
understand and agree that Bank may rely on the account number Secured Party indicates
even if that account number is not the account number for the person or entity who is to
receive the transfers.
	 
	7.	 	Reporting Errors in Transfers. If Secured Party or Company learns of any error in a funds
transfer or any unauthorized funds transfer, then the party learning of such error or
unauthorized transfer (the “Informed Party”) must notify Bank as soon as possible by telephone
at (800) AT- WELLS (which is a recorded line), and provide written confirmation to Bank of
such telephonic notice within two Business Days at the address given for Bank on the signature
page of this Agreement. In no case may such notice to Bank by an Informed Party be made more
than fourteen (14) calendar days after such Informed Party learns of the erroneous or
unauthorized transfer. If a funds transfer is made in error and Bank suffers a loss because an
Informed Party breached its agreement to notify Bank of such error within the time limits
specified in this Section 7, then such Informed Party shall reimburse Bank for the loss
promptly upon demand by Bank; provided, however, that in the event both Secured Party and
Company breach this notification requirement, Secured Party shall not be obligated to
reimburse Bank for the loss unless Company fails to satisfy Bank’s demand for reimbursement
within fifteen (15) calendar days after demand is made on Company.
	 
	8.	 	Returned Item Amounts. Secured Party and Company understand and agree that the face amount
(“Returned Item Amount”) of each Returned Item will be paid by Bank debiting the Restricted
Account, without prior notice to Secured Party or Company. As used in this Agreement, the term
“Returned Item” means (i) any item deposited to the Restricted Account and returned unpaid,
whether for insufficient funds or for any other reason, and without regard to the timeliness
of such return or the occurrence or timeliness of any drawee’s
notice of non-payment; (ii) any
item subject to a claim against Bank of breach of transfer or presentment warranty under the
Uniform Commercial Code, as adopted in the applicable state; (iii) any automated clearing
house (“ACH”) entry credited to the Restricted Account and returned unpaid

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 2

 

 

		 	or subject to an adjustment entry under applicable clearing house rules, whether for
insufficient funds or for any other reason, and without regard to the timeliness of such
return or adjustment; (iv) any credit to the Restricted Account from a merchant card
transaction, against which a contractual demand for chargeback has been made; and (v) any
credit to the Restricted Account made in error. Company agrees to pay all Returned Item
Amounts immediately on demand, without setoff or counterclaim, to the extent there are not
sufficient funds in the Restricted Account to cover the Returned Item Amounts on the day
they are to be debited from the Restricted Account. Secured Party agrees to pay all Returned
Item Amounts within thirty (30) calendar days after demand, without setoff or counterclaim,
to the extent the Returned Item Amounts are not paid in full by Company within fifteen (15)
calendar days after demand on Company by Bank, and to the extent Secured Party received
proceeds from the corresponding Returned Items.
	 
	9.	 	Bank Fees. Company agrees to pay all Bank’s fees and charges for the maintenance and
administration of the Restricted Account and for the treasury management and other account
services provided with respect to the Restricted Account (collectively “Bank Fees”),
including, but not limited to, the fees for (a) the Balance Reports provided on the Restricted
Account, (b) the wire transfer services received with respect to the Restricted Account, (c)
Returned Items, (d) funds advanced to cover overdrafts in the Restricted Account (but without
Bank being in any way obligated to make any such advances), and (e) duplicate bank statements
on the Restricted Account. Before Bank receives the Instructions, the Bank Fees will be paid
by Bank debiting the Restricted Account, and after Bank receives the Instructions the Bank
fees will be paid by Bank debiting one or more of the demand deposit operating accounts of
Company at Bank specified at the end of this Agreement (the “Operating Accounts”). All such
debits will be made on the Business Day that the Bank Fees are due without notice to Secured
Party or Company. If there are not sufficient funds in the Restricted Account, or after Bank
receives the Instructions, the Operating Accounts, to cover fully the Bank Fees on the Business Day they
are debited from the Restricted Account or the Operating Accounts, or if no Operating
Accounts are indicated at the end of this Agreement, such shortfall or the amount of
such Bank Fees will be paid by Company sending Bank a check in the amount of such
shortfall or such Bank Fees, without setoff or counterclaim, within fifteen (15)
calendar days after demand of Bank. After Bank receives the Instructions, Secured Party
agrees to pay the Bank Fees within thirty (30) calendar days after demand, without
setoff or counterclaim, to the extent such Bank Fees are not paid in full by Company by
check within fifteen (15) calendar days after demand on Company by Bank. Bank may, in
its discretion, change the Bank Fees upon thirty (30) calendar days prior written notice
to Company and Secured Party.
	 
	10.	 	Account Documentation. Secured Party and Company agree that, except as specifically provided
in this Agreement, the Restricted Account will be subject to, and Bank’s operation of the
Restricted Account will be in accordance with, the terms and provisions of Bank’s deposit
account agreement governing the Restricted Account (“Account
Agreement”), a copy of which
Company and Secured Party acknowledge having received.
	 
	11.	 	Bank Statements. After Bank receives the Instructions, Bank will, if so indicated on the
signature page of this Agreement, send to Secured Party by United States mail, at the address
indicated for Secured Party after its signature to this Agreement, duplicate copies of all
bank statements on the Restricted Account which are sent to Company. Company and/or Secured
Party will have thirty (30) calendar days after receipt of a bank statement to notify Bank of
an error in such statement. Bank’s liability for such errors is limited as provided in the
“Limitation of Liability” section of this Agreement.
	 
	12.	 	Partial Subordination of Bank’s Rights. Bank hereby subordinates to the security interest of
Secured Party in the Restricted Account (i) any security interest which Bank may have or
acquire in the Restricted Account, and (ii) any right which Bank may have or acquire to set
off or otherwise apply any Account Funds against the payment of any indebtedness from time to
time

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 3

 

 

		 	owing to Bank from Company, except for debits to the Restricted Account permitted under this
Agreement for the payment of Returned Item Amounts or Bank Fees.
	 
	13.	 	Bankruptcy Notice; Effect of Filing. If Bank at any time receives notice of the commencement
of a bankruptcy case or other insolvency or liquidation proceeding by or against Company (a
“Bankruptcy Notice”), Bank will continue to comply with its obligations under this Agreement,
except to the extent that any action required of Bank under this Agreement is prohibited under
applicable bankruptcy laws or regulations or is stayed pursuant to the automatic stay imposed
under the United States Bankruptcy Code or by order of any court or agency. With respect to
any obligation of Secured Party hereunder which requires prior demand upon Company, the
commencement of a bankruptcy case or other insolvency or liquidation proceeding by or against
Company shall automatically eliminate the necessity of such demand
upon Company by Bank, and
shall immediately entitle Bank to make demand on Secured Party with the same effect as if
demand had been made upon Company and the time for Company’s performance had expired.
	 
	14.	 	Legal Process, Legal Notices and Court Orders. Bank will comply with any legal process, legal
notice or court order it receives if Bank determines in its sole discretion that the legal
process, legal notice or court order is legally binding on it.
	 
	15.	 	Indemnification for Following Instructions. Secured Party and Company each agree that,
notwithstanding any other provision of this Agreement, except to the extent caused by Bank’s
gross negligence or willful misconduct Bank will not be liable to Secured Party or Company for
any losses, liabilities, damages, claims (including, but not limited to, third party claims),
demands, obligations, actions, suits, judgments, penalties, costs or expenses, including, but
not limited to, attorneys’ fees, (collectively, “Losses and Liabilities”) suffered or incurred
by Secured Party or Company as a result of or in connection with, (a) Bank complying with any
binding legal process, legal notice or court order referred to in Section 14 of this
Agreement, (b) Bank following any instruction or request of Secured Party, or (c) Bank
complying with its obligations under this Agreement. Further, Company, and to the extent
not paid by Company within fifteen (15) calendar days after demand, Secured Party, will
indemnify Bank against any Losses and Liabilities Bank may suffer or incur as a result of
or in connection with any of the circumstances referred to in clauses (a) through (c) of
the preceding sentence.
	 
	16.	 	No Representations or Warranties of Bank. Bank agrees to perform its obligations under this
Agreement in a manner consistent with the quality provided when Bank performs similar services
for its own account. However, Bank will not be responsible for the errors, acts or omissions
of others, such as communications carriers, correspondents or clearinghouses through which
Bank may perform its obligations under this Agreement or receive or transmit information in
performing its obligations under this Agreement. Secured Party and Company also understand
that Bank will not be responsible for any loss, liability or delay caused by wars, failures in
communications networks, labor disputes, legal constraints, fires, power surges or failures,
earthquakes, civil disturbances or other events beyond Bank’s control. BANK MAKES NO EXPRESS
OR IMPLIED REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE SERVICE OTHER THAN THOSE
EXPRESSLY SET FORTH IN THIS AGREEMENT.
	 
	17.	 	Limitation of Liability. In the event that Secured Party, Company or Bank suffers or incurs
any Losses and Liabilities as a result of, or in connection with, its or any other party’s
performance or failure to perform its obligations under this Agreement, the affected parties
shall negotiate in good faith in an effort to reach a mutually satisfactory allocation of such
Losses and Liabilities, it being understood that Bank will not be responsible for any Losses
and Liabilities due to any cause other than its own negligence or breach of this Agreement, in
which case its liability to Secured Party and Company shall, unless otherwise provided by any
law which cannot be

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 4

 

 

	 	 	varied by contract, be limited to direct money damages in an amount not to exceed ten (10)
times all the Bank Fees charged or incurred during the calendar month immediately preceding
the calendar month in which such Losses and Liabilities occurred (or, if no Bank Fees were
charged or incurred in the preceding month, the Bank Fees charged or incurred in the month
in which the Losses and Liabilities occurred). Company will indemnify Bank against all
Losses and Liabilities suffered or incurred by Bank as a result of third party claims;
provided, however, that to the extent such Losses and Liabilities are directly caused by
Bank’s negligence or breach of this Agreement such indemnity will only apply to those Losses
and Liabilities which exceed the liability limitation specified in the preceding sentence.
The limitation of Bank’s liability and the indemnification by Company set out above will not
be applicable to the extent any Losses and Liabilities of any party to this Agreement are
directly caused by Bank’s gross negligence or willful misconduct. IN NO EVENT WILL BANK BE
LIABLE FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, INDIRECT OR PUNITIVE DAMAGES, WHETHER ANY
CLAIM IS BASED ON CONTRACT OR TORT, WHETHER THE LIKELIHOOD OF SUCH DAMAGES WAS KNOWN TO BANK
AND REGARDLESS OF THE FORM OF THE CLAIM OR ACTION, INCLUDING, BUT NOT LIMITED TO, ANY CLAIM
OR ACTION ALLEGING GROSS NEGLIGENCE, WILLFUL MISCONDUCT, FAILURE TO EXERCISE REASONABLE CARE
OR FAILURE TO ACT IN GOOD FAITH. Any action against Bank by Company or Secured Party under
or related to this Agreement must be brought within twelve months after the cause of action
accrues.
	 
	18.	 	Termination. This Agreement and the Service may be terminated by Secured Party or Bank at any
time by either of them giving thirty (30) calendar days prior written notice of such
termination to the other two parties to this Agreement at their contact addresses specified
after their signatures to this Agreement; provided, however, that this Agreement and the
Service may
be terminated immediately upon written notice from Bank to Company and Secured Party
should Secured Party fail to make any payment when due to Bank from Secured Party under
the terms of this Agreement. Secured Party and Company agree that the Restricted Account
may be closed by Bank as provided in the Account Agreement. Company’s and Secured
Party’s obligation to report errors in funds transfers and bank statements and to pay
the Bank Fees, as well as the indemnifications made, and the limitations on the
liability of Bank accepted, by Company and Secured Party under this Agreement will
continue after the termination of this Agreement and/or the closure of the Restricted
Account with respect to all the circumstances to which they are applicable existing or
occurring before such termination or closure, and any liability of any party to this
Agreement, as determined under the provisions of this Agreement, with respect to acts or
omissions of such party prior to such termination or closure will also survive such
termination or closure. Upon any termination of this Agreement and the Service or
closure of the Restricted Account all collected and available balances in the Restricted
Account on the date of such termination or closure will be transferred to Secured Party
as requested by Secured Party in writing to Bank.
	 
	19.	 	Modifications, Amendments, and Waivers. This Agreement may not be modified or amended, or any
provision thereof waived, except in a writing signed by all the parties to this Agreement;
provided, however, that the Bank Fees may be changed after thirty (30) calendar days prior
written notice to Company and Secured Party.
	 
	20.	 	Notices. All notices from one party to another shall be in writing, or be made by a telecommunications
device capable of creating a written record, shall be delivered to Company,
Secured Party and/or Bank at their contact addresses specified after their signatures to this
Agreement, or any other address of any party notified to the other parties in writing, and
shall be effective upon receipt. Any notice sent by one party to this Agreement to another
party shall also be sent to the third party to this Agreement. Bank is authorized by Company
and Secured Party to act on any instructions or notices received by Bank if (a) such
instructions or notices

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 5

 

 

	 	 	purport to be made in the name of Secured Party, (b) Bank reasonably believes that they are
so made, and (c) they do not conflict with the terms of this Agreement as such terms may be
amended from time to time, unless such conflicting instructions or notices are supported by
a court order.
	 
	21.	 	Successors and Assigns. Neither Company nor Secured Party may assign or transfer its rights
or obligations under this Agreement to any person or entity without the prior written consent
of Bank, which consent will not be unreasonably withheld. Bank may not assign its rights or
obligations under this Agreement to any person or entity without the prior written consent of
Secured Party, which consent will not be unreasonably withheld; provided, however, that no
such consent will be required if the assignee is a bank affiliate of Bank.
	 
	22.	 	Governing Law. Company and Secured Party understand that Bank’s provision of the Service
under this Agreement is subject to federal laws and regulations. To the extent that such
federal laws and regulations are not applicable this Agreement shall be governed by and be
construed in accordance with the laws of the state in which the office of Bank that maintains
the Restricted Account is located, without regard to conflict of laws principles.
	 
	23.	 	Severability. To the extent that this Agreement or the Service to be provided under this
Agreement are inconsistent with, or prohibited or unenforceable under, any applicable law or
regulation, they will be deemed ineffective only to the extent of such prohibition or
unenforceability and be deemed modified and applied in a manner consistent with such law or
regulation. Any provision of this Agreement which is deemed unenforceable or invalid in any
jurisdiction shall not affect the enforceability or validity of the remaining provisions of
this Agreement or the same provision in any other jurisdiction.
	 
	24.	 	Usury. It is never the intention of Bank to violate any applicable usury or interest rate
laws. Bank does not agree to, or intend to contract for, charge, collect, take, reserve or
receive (collectively, “charge or collect”) any amount in the nature of interest or in the
nature of a fee, penalty or other charge which would in any way or event cause Bank to charge
or collect more than the maximum Bank would be permitted to charge or collect by any
applicable federal or state law. Any such excess interest or unauthorized fee shall,
notwithstanding anything stated to the contrary in this Agreement, be applied first to reduce
the amount owed, if any, and then any excess amounts will be refunded.
	 
	25.	 	Counterparts. This Agreement may be executed in any number of counterparts each of which
shall be an original with the same effect as if the signatures thereto and hereto were upon
the same instrument.
	 
	26.	 	Entire Agreement. This Agreement, together with the Account Agreement, contains the entire
and only agreement among all the parties to this Agreement and between Bank and Company, and
Bank and Secured Party, with respect to (a) the Service, (b) the interest of Secured Party and
the Lenders in the Account Funds and the Restricted Account, and (c) Bank’s obligations to
Secured Party and the Lenders in connection with the Account Funds and the Restricted Account.

This Agreement has been signed by the duly authorized officers or representatives of Company,
Secured Party and Bank on the date specified below.

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 6

 

 

Date:
March 29, 2005

	 	 	 	 	 
	Restricted Account Number(s):

	 	 	[***]	 
	Operating Account Number(s):

	 	 	[***]	 
	Secured Party Account Number:

	 	 	[***]	 
	Bank of Secured Party Account:

	 	Comerica
Bank

Secured Party is to be sent duplicate Bank Statements.

	 	 	 	 	 
	[Company] FLUIDIGM CORPORATION

	 	[Secured Party] LIGHTHOUSE CAPITAL
	 

	 	PARTNERS V, L.P.
	 
	 	 
	 

	 	BY: LIGHTHOUSE MANAGEMENT
	 

	 	PARTNERS V, L.L.C. ITS GENERAL
	 

	 	PARTNER

	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 

	 	 	 	 	 	 

	 	 
	Name: Gajus Worthington	 	 	 	Name: Thomas Conneely	 	 
	Title: CEO	 	 	 	Title: Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Address For All Notices:	 	 	 	Address For All Notices:	 	 
	 
	Fluidigm Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	Attn: James Neesen	 	 	 	500 Drakes Landing Road	 	 
	7100 Shoreline Court	 	 	 	Greenbrae, CA 94904	 	 
	 	 	 	 	 	 	Attn: Contracts Administration	 	 

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK
     , N.A.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Scott M. Van Gorder	 	 
	 	 	Title: Vice President, Senior Relationship Manager	 	 
	 
	 	 	 	 	 	 
	 	 	Address For All Notices:	 	 
	 
	 	 	420 Montgomery
Street,
9th
Floor	 	 
	 	 	MAC A0101-096	 	 
	 	 	San Francisco, CA 94108	 	 

			
	 	 	 
	Restricted Account Agreement

(Revised 09/21/01)
	 	Page 7

 

March 29,
2005

Morgan Stanley & Co. Incorporated (the “Broker”)

555 California Street 14th Floor

San Francisco, CA 94104

Re: Notice of Pledge and Security

Gentlemen:

Please be advised that the undersigned, Fluidigm Corporation (“Pledgor”), has pledged a security
interest in Account No. [***] (the “Account”) held by Broker, as securities intermediary,
and in all of the securities, proceeds, cash or other assets now or hereafter held in the Account
(collectively, the “Collateral”), to Lighthouse Capital Partners V, L.P. (“Pledgee”) pursuant to
the terms and provisions of a certain Loan and Security Agreement (the “Agreement”), dated March
29, 2005.

Broker,
Pledgor and Pledgee, by signing this letter, hereby agree as follows:

a) The
Account shall be retitled “Fluidigm Corporation — Pledgor/
Lighthouse Capital – Pledgee”;

b) Pledgee has a security interest in the Collateral and is authorized to instruct the Broker
with regard to the Account without further consent needed by Pledgor;

c) Broker is hereby notified of Pledgee’s security interest, and agrees to comply with all
instructions and entitlement orders of Pledgee with regard to the Account. Broker shall
not comply with instructions and entitlement orders with respect to the Collateral or the
Account that are originated by the Pledgor except as described in Paragraph D below.
Broker is also hereby authorized and agrees to send duplicate copies of any and all
statements and confirmations, as well as any other appropriate correspondence, relating to
the Account directly to the Pledgee at the address indicated below, or to such other
address as Pledgee may designate in writing. This pledge will remain in full force and
effect until Pledgee notifies Broker in writing to the contrary;

d) Pledgee hereby instructs Broker that until further instruction in writing from an
Authorized Officer of Pledgee (as defined below) that Pledgee is assuming exclusive
control over the Account (“Notice of Exclusive Control”), the Broker shall comply with
directions of Pledgor with respect to any transactions, including withdrawals, in the
Account. Notwithstanding anything contained herein, upon receipt of a Notice of
Exclusive Control (it being understood that Broker shall have no duty or obligation
whatsoever to investigate or determine whether the Notice of Exclusive Control was

 

 

rightfully or legally issued), Broker shall only follow the directions and instructions of
Pledgee with regard to the Account. In that case, if Pledgee so requests, Broker will proceed to
liquidate the assets of the Account in accordance with Pledgee’s instructions and to deliver the
proceeds to Pledgee.

     For purposes of this Agreement, “Authorized Officer of Pledgee” shall refer to any one of
the following individuals: Richard Stubblefield and Thomas Conneely. If Pledgee finds it
necessary to designate a replacement for any of the designated Authorized Officers of Pledgee,
written notice of replacement shall be given to Broker, which notice shall be signed by the
President, an Executive Vice President, a Senior Vice President, or such other officer of Pledgee
as Broker may approve. However, Broker shall be entitled to rely on any notice it receives from
someone whom it reasonably believes is an Authorized Officer of Pledgee;

e) Broker shall have no obligation to monitor the Account for any purpose in connection
with the pledge granted hereunder. The Pledgee accepts and acknowledges full
responsibility for reviewing daily confirmations and monthly statements to ensure that it
is adequately secured;

f) Pledgor and Pledgee hereby agree to indemnify and hold harmless Broker, its affiliates,
officers, and employees from and against any and all claims, causes of actions, liabilities,
lawsuits, demands, and/or damages, including, without limitation, any and all court costs and
reasonable attorney’s fees, that might result by reason of the actions of Broker under this
Agreement. Broker shall not be responsible for any losses, claims, damages, liabilities and
expenses incurred by Pledgor or Pledgee, except to the extent that such losses, claims,
damages, liabilities or expenses arise out of the bad faith, gross negligence, or criminal
acts or omissions on the part of Broker;

g) Broker may terminate this Agreement at any time by canceling the Account and
transferring all funds and securities in the Account to Pledgee;

h) As of the date hereof, the Collateral has not been paid to or withdrawn by the Pledgor; Broker
is not in receipt of any notice of withdrawal or redemption with regard to the Collateral or
notice not to renew the Account, and Broker has not given any notice that the Account will not be
renewed or extended, as the case may be;

i) Broker’s records indicate that the value of the Collateral, as of the date hereof, is
approximately [***].

j) Broker subordinates any right of offset Broker may now or hereafter have against the
Collateral for any indebtedness now or hereafter owing to Broker by the Pledgors to the security
interest of Pledgee; provided that Broker shall continue to have a first perfected
security interest in the Collateral with respect to any charges incurred in connection with the
operation of the Account, including, but not limited to, fees, commissions and any costs related
to unsettled securities transactions.

 

 

k) This Agreement shall be governed by the law of the State of New York, excluding its conflict of
law rules. The parties hereby agree that (i) the “securities intermediary’s jurisdiction” with
respect to the Account and the Collateral is New York and (ii) the parties shall not agree with any
other person that such securities intermediary’s jurisdiction is any jurisdiction other than New
York.

	 	 	 	 	 
	 

	 	Very truly yours,
	 	 
	 

	 	FLUIDIGM CORPORATION	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	 	 	 
	 

	 	By:    James Neeson	 	 
	 

	 	Title: Controller	 	 

Read and Agreed to:

MORGAN STANLEY & CO. INCORPORATED

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 

     Name:
	 	 
	 

	 	     Title:	 	 

LIGHTHOUSE CAPITAL PARTNERS V, L.P.

	 	 	 
	By:

	 	Lighthouse Management Partners V, L.L.C.
	 

	 	its general partner

	 	 	 	 	 
	By
	 	 	 	 
	 

	 	 	 	 
	 

	 	     Name: Thomas Conneely
	 	 
	 

	 	     Title: Vice President	 	 
	 

	 	     Address: 500 Drakes Landing Road	 	 
	 

	 	Greenbrae, CA 94904
	 	 

 

 

SUBORDINATION AGREEMENT

     This SUBORDINATION AGREEMENT (this “Agreement”), dated as of March 29, 2005, is between, on
the one hand, each undersigned holder (each a “Holder” and collectively the “Holders”) of
Convertible Promissory Notes issued pursuant to those certain Convertible Note Purchase Agreement
dated December 18, 2003, as amended from time to time (each a “Note” and collectively the “Notes”)
issued by Fluidigm Corporation, a California corporation (“Company”), and, on the other
hand, Lighthouse Capital
Partners V, L.P., a Delaware limited partnership (“LCP”), lender
under that certain Loan and Security Agreement No. 4561, dated March 29, 2005 (the “Loan
Agreement”) with Company (all obligations of payment and performance due or to become due pursuant
to the Obligations or the Loan Documents as those terms are defined therein, as the same may be
amended from time to time, are the “LCP Obligations”), with reference to the following:

     WHEREAS, in order to induce LCP to enter into the Loan Agreement, the Holders agree to enter
into this Agreement;

     NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties
hereby agree as follows:

     1. Subordination. Each Holder agrees that it shall not receive any payment of any
amounts on account of the Notes until the LCP Obligations have been paid and performed in
full.
Regardless of (i) any agreement of any Holder or LCP with Company, (ii) the time, place,
manner or order of attachment, perfection, or the filing of UCC-1 filings or other documents,
or
(iii) the giving or failure to give notice, each Holder does hereby subordinate payment by
Company on its Notes to the full and final payment to LCP of the LCP Obligations. Each Holder
agrees that all payments and the proceeds received by Holders on account of the Notes shall be
held by them in trust for LCP for the payment of the LCP Obligations, and turned over to LCP
in
kind upon receipt of notice from LCP that Company has failed to pay LCP any of the LCP Obligations. Holders hereby agree they have no security interest in any property of the Company.

Notwithstanding anything in this Agreement, (i) in the event the Convertible Note, dated as of
December 18, 2003 (the “Initial EDB Note”), issued by Company to Biomedical Sciences Investment Fund
Pte Ltd (“BMSIF”) has not been converted according to the terms set forth in Section 2 of such
Initial EDB Note by the Payment Date (as defined in such Initial EDB Note), BMSIF may receive
payment by the Company in an amount not to exceed 50% of the principal amount outstanding under
such Initial EDB Note, and (ii) each Holder may convert any Note into capital stock of the Company
and accept cash in lieu of fractional shares in connection with any such conversion. Upon
conversion of any Note into capital stock of the Company and acceptance of cash in lieu of
fractional shares in connection with any such conversion, this Agreement shall terminate with
respect to such Note and any proceeds received by a Holder in connection with the conversion of
such Note.

     2. Bankruptcy. (Subject to paragraph (1) above), Each Holder agrees that upon any

 

 

distribution of assets or readjustment of indebtedness of Company, whether by liquidation,
bankruptcy, assignment for the benefit of creditors, or otherwise, LCP shall receive payment in
full on the LCP Obligations before Holder receives payment of any amounts due under the Notes and
Holders shall pay over to LCP any amounts so received by them related to the Notes until the LCP
Obligations are paid in full. In furtherance thereof, each Holder authorizes LCP to make and vote
(without LCP being obligated to make or vote) any and all proofs of claim respecting the Notes in
any such proceeding and to receive and collect all dividends or other payments thereupon; provided
that LCP will pay over to Holders a pro rata distribution of amounts received by it in excess of
that necessary for the full and final satisfaction of the LCP Obligations. Holders agree to execute
such instruments of assignment and other documents as may be necessary to enforce such claims and
collect such dividends or to otherwise carry out the intent and purpose hereof.

     3. Representations. Each party hereto warrants and represents to the others
that it has full power and authority to enter hereinto and to perform all obligations hereunder,
that this Agreement is valid, binding and enforceable in accordance with its terms and that
execution and performance hereof does not violate any agreement with any other person or entity.
Each Holder represents and warrants that it (i) is the owner of the Notes, free and clear of the
claims of any others, (ii) has not heretofore subordinated or assigned the Notes or its interest
therein to any entity, (iii) will not transfer any Notes to any entity other than one which agrees
to be bound hereby, and (iv) waives any rights to claim that the enforceability of this Agreement
may be affected by any subsequent modification, release, extension,
or change in LCP obligations.

     4. No Third Party Beneficiaries. Company has no rights hereunder. This
Agreement is made only for the benefit of Holders and LCP and their successors and assigns, and may
not be relied upon by any other third party, including Company or any successor thereto or any
judgment lien creditor thereof. Nothing herein shall constitute a commitment or agreement by either
of LCP or Holder to provide funds to Company.

     5. Miscellaneous. This Agreement: (i) may only be amended by a writing signed by
LCP and the affected Holder; (ii) contains the entire agreement between Holders and LCP with
respect to its subject matter, and all prior negotiations, documents and discussions are
superseded
hereby; (iii) shall be governed by the laws of the state of California; (iv) may be executed
in
counterparts delivered by telefacsimile, all of which, when taken together, shall constitute
one
and the same original document; and (v) may be attached to a Form UCC-1 and filed in the
public records of any jurisdiction; and (vi) shall terminate upon the full, final and
indefeasible
payment and performance by Company to LCP of all LCP Obligations.

     6. Waiver of Jury Trial. TO THE FULLEST EXTENT PERMITTED BY LAW,
EACH OF THE PARTIES HERETO WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN RESPECT OF LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF,
UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY FURTHER
WAIVES ANY RIGHT TO CONSOLIDATE ANY ACTION IN WHICH A JURY TRIAL HAS
BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE
OR HAS NOT BEEN WAIVED.

 

 

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

Lighthouse
Capital Partners V, L.P.

a Delaware limited partnership

	 	 	 	 	 
	by:

	 	Lighthouse Management Partners V, L.L.C.
	 	 
	 

	 	its general partner	 	 
	 
	 	 	 	 
	by:

	 	/s/ Thomas Conneely	 	 
	 

	 	 	 	 
	 

	 	Thomas Conneely	 	 
	 

	 	Vice President	 	 
	 
	 	 	 	 
	 

	 	500 Drakes Landing Road	 	 
	 

	 	Greenbrae, CA 94904	 	 
	 

	 	Attn: Contracts Administration	 	 
	 

	 	Tel: (415) 464-5900	 	 
	 

	 	Fax: (415) 925-3387	 	 

 

 

HOLDERS:

Biomedical
Sciences Investment Fund Ptd 
Ltd

	 	 	 	 	 
	By: 

Title:

	 	/s/ Lily Chan
 

Director
	 	 
	 

	 	20 Biopolis Way	 	 
	 

	 	#09-01 Centros	 	 
	 

	 	Singapore 138668	 	 
	 

	 	Attn: Lily Chan, PhD	 	 
	 

	 	Tel: 65-6395-7700	 	 
	 

	 	Fax: 65-6395-7796	 	 

Invus,
L.P.

	 	 	 	 	 
	By:

	 	Invus Advisors, LLC
	 	 
	 

	 	   Its general partner	 	 

	 	 	 	 	 
	By:
	 	 	 	 
	Title:

	 	 
	 	 
	 

	 	135 East 57th Street	 	 
	 

	 	New York, NY 10022	 	 
	 

	 	Attn: Phillipe J. Amouyal	 	 
	 

	 	Tel: (212) 371-1717	 	 
	 

	 	Fax: (212) 371-1829	 	 

Company hereby acknowledges and consents to the Agreement, promises to take all such action as may
be necessary to fulfill its essential intent and purpose, agrees that failure to do so shall be an
Event of Default under the LCP Obligations, and acknowledges that in the transactions referenced
herein it has been advised to seek, and has selected, counsel of its own choosing, namely Wilson,
Sonsini, Goodrich & Rosati of Palo Alto, California.

Fluidigm
Corporation

	 	 	 	 	 
	By
	 	 	 	 
	Its
	 	 	 	 
	 

	 	 	 	 

Signature page to Fluidigm Corporation

Subordination Agreement

Fluidigm Confidential

 

 

HOLDERS:

Biomedical
Sciences Investment Fund Ptd Ltd

	 	 	 	 	 
	By:
	 	 	 	 
	Title:

	 	 

	 	 
	 

	 	 

	 	 
	 

	 	20 Biopolis Way	 	 
	 

	 	#09-01 Centros	 	 
	 

	 	Singapore 138668	 	 
	 

	 	Attn: General Manager	 	 
	 

	 	Tel: 65-6395-7700	 	 
	 

	 	Fax: 65-6395-7796	 	 

Invus,
L.P.

	 	 	 	 	 
	By:

	 	Invus Advisors, LLC
	 	 
	 

	 	   Its general partner	 	 

	 	 	 	 	 
	By: 

Title:

	 	/s/ Aflalo Guimaraes
 

Managing Director
	 	 
	 

	 	135 East
57th Street	 	 
	 

	 	New York, NY 10022	 	 
	 

	 	Attn: Phillipe J. Amouyal	 	 
	 

	 	Tel: (212) 371- 1717	 	 
	 

	 	Fax: (212) 371-1829	 	 

Company hereby acknowledges and consents to the Agreement, promises to take all such action as may
be necessary to fulfill its essential intent and purpose, agrees that failure to do so shall be an
Event of Default under the LCP Obligations, and acknowledges that in the transactions referenced
herein it has been advised to seek, and has selected, counsel of its own choosing, namely Wilson,
Sonsini, Goodrich & Rosati of Palo Alto, California.

Fluidigm
Corporation

	 	 	 	 	 
	By
	 	 	 	 
	Its
	 	 	 	 
	 

	 	 	 	 

 

 

HOLDERS:

Biomedical
Sciences Investment Fund Ptd
Ltd

	 	 	 	 	 
	By:
	 	 	 	 
	Title:

	 	 
	 	 
	 

	 	20 Biopolis Way	 	 
	 

	 	#09-01 Centros	 	 
	 

	 	Singapore 138668	 	 
	 

	 	Attn: General Manager	 	 
	 

	 	Tel: 65-6395-7700	 	 
	 

	 	Fax: 65-6395-7796	 	 

Invus,
L.P.

	 	 	 	 	 
	By:

	 	Invus Advisors, LLC
	 	 
	 

	 	Its general partner	 	 

	 	 	 	 	 
	By:
	 	 	 	 
	Title:

	 	 
	 	 
	 

	 	135 East 57th Street	 	 
	 

	 	New York, NY 10022	 	 
	 

	 	Attn: Phillipe J. Amouyal	 	 
	 

	 	Tel: (212) 371-1717	 	 
	 

	 	Fax: (212) 371-1829	 	 

Company hereby acknowledges and consents to the Agreement, promises to take all such action as may
be necessary to fulfill its essential intent and purpose, agrees that failure to do so shall be an
Event of Default under the LCP Obligations, and acknowledges that in the transactions referenced
herein it has been advised to seek, and has selected, counsel of its own choosing, namely Wilson,
Sonsini, Goodrich & Rosati of Palo Alto, California.

Fluidigm Corporation

	 	 	 	 	 
	By

	 	/s/ Gajus Worthington
	 	 
	 

	 	 	 	 
	Its

	 	President & CEO	 	 
	 

	 	 	 	 

 

 

AMENDMENT NO. 01 (“Amendment”)

TO LOAN AND SECURITY AGREEMENT NO. 4561

Entered into as of August 4, 2006 by and between

Lighthouse Capital Partners V, L.P. (“Lender”) and Fluidigm Corporation (“Borrower”).

RECITALS

     WHEREAS, Borrower and Lender have previously entered into that certain Loan and Security
Agreement No. 4561 dated as of March 29, 2005 (the “Loan and Security Agreement”; all initially
capitalized terms not otherwise defined herein shall have the meanings given to such terms in
the Loan and Security Agreement), together with the other agreements and instruments entered
into in connection therewith (collectively, the “Loan Documents”); and

     WHEREAS, Borrower and Lender each have agreed to amend the Loan Documents subject to
Borrower’s performance of the terms and conditions hereof; and

     WHEREAS, as of August 31, 2006, Borrower and Lender mutually agree that the outstanding
principal balance of the Loans is $11,093,832.04;

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein
contained, the parties hereby agree to modify the Loan Documents by entering into this Amendment
and Borrower agrees to perform such other covenants and conditions as follows:

A) Loan and Security Agreement

     (i) Definitions — The definition of “Subordinated Indebtedness”, shall be amended and
restated to read as follows:

“Subordinated Indebtedness” means Indebtedness of Borrower to Singapore EDB (including
its investment fund BioMedical Sciences Investment Fund Ptd Ltd) and Invus Group that is
subordinated in both security and right of payment to the Obligations on terms and
conditions reasonably satisfactory to Lender in an amount not to exceed $8,000,000.

B) Secured Term Promissory Note

(i) Definitions — The following definitions shall be added to the Notes, and to the
extent these terms are already defined in the Loan Documents, they shall be deleted in their
entirety and replaced with the following:

     “Final Payment” means 11.25% of the Advance.

     “Basic Rate” means a variable per annum rate of interest equal to the Index plus the
Interest Margin which shall be subject to adjustment as provided herein. On and after March 1,
2006 through and including August 31, 2006, the Basic Rate shall be fixed at 10.00%. On and
after September 1, 2006, the Basic Rate shall be fixed at 9.75%.

     “Repayment
Period” means the period beginning on the Loan Commencement Date and continuing
for 48 calendar months.

C) Additional Terms and Conditions

1.

 

	 	1.	 	Repayment. Notwithstanding anything contained in any Note issued in connection
with the Loan and Security Agreement, Section 1 of each such Note shall be superseded by the following payment
terms: for and on account of all of the Notes, from March 1, 2006 through and including August 31,
2006, Borrower will pay Lender $416,006.71 per month. On and after September 1, 2006 through February 28,
2010, Borrower shall pay Lender $310,305.95 per month. In addition to all other amounts due or to
become due hereunder, the Final Payment is due on the earliest to occur of the Maturity Date or March
1, 2009.
	 
	 	2.	 	Restructure Fee. In addition to all other amounts due or to become due
hereunder, on the earliest to occur of (i) the Maturity Date; (ii) the date of prepayment of all of the Notes, or (ii) March 1,
2009, Borrower shall pay to Lender a restructure fee in the amount of $150,000, in cash.
	 
	 	3.	 	Expenses. Borrower shall pay reasonable fees and expenses incurred by
Lender’s legal counsel in connection with the preparation and negotiation of documentation related to this Amendment.
Such restructure expenses are due and payable when billed.

D)           Acknowledgments; Representations and Warranties. Borrower warrants and represents to
Lender, as a material inducement to Lender’s entering hereinto, as follows:

	 	a)	 	No Further Funding Obligations. Lender has no obligations to make further Advances to
Borrower.
	 
	 	b)	 	No Waivers. Lender has made no separate oral or written waiver of any existing
or future Default or Event of Default by Borrower under any Loan
Document.
	 
	 	c)	 	No Set-Off. Borrower has no claims or rights of set-off against Lender of any
kind under any Loan Document or otherwise. Borrower has no defenses to payments of any amounts owed to Lender as
the same become due and payable.
	 
	 	d)	 	Representations and Warranties of Borrower. The representations and warranties contained in the Loan Agreement are true and complete in all material respects as of the date hereof, except with
respect to any such representation or warranty which speak only as of a specific date prior to the date
hereof. Borrower warrants and represents that no Events of Default have occurred. Borrower warrants and
represents that it has not reached any settlement with any other creditor of Borrower that has not been
disclosed in writing to Lender.

E.           Release. Borrower for itself and for its agents, partners, stockholders, employees and
affiliates and its or their successors and assigns hereby (a) agrees to waive, release and further
discharge Lender and its officers, directors, stockholders, partners, successors, assigns, agents
and employees of and from any and all manner of claims arising in connection with the Loan
Documents for damages at law or in equity with respect to any matter occurring prior to the date
hereof which Borrower or such other releasing party may have had, and (b) waives California Civil
Code Section 1542, which reads: “A general release does not extend to claims which the creditor
does not know or suspect to exist in his favor at the time of executing the release, which if
known by him must have materially affected his settlement with the debtor.” Each provision of this
release shall be severable from every other provision when determining its legal enforceability.

2.

 

Except as amended hereby, the Loan Documents remain unmodified and unchanged and ratified by
Borrower as though fully set forth herein. In the event of any contradiction between any term
of this Amendment with any other Loan Document, the terms under this Amendment shall control
Lender and Borrower have executed this Amendment as of the date first written above.

	 	 	 	 	 	 	 	 	 	 	 
	Borrower:	 	 	 	Lender:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Fluidigm Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	Lighthouse Management	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Partners
V, L.L.C., its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Gajus Worthington
 

	 	 	 	By:
	 	/s/ Thomas Conneely
 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Gajus Worthington
	 	 	 	Name:
	 	Thomas Conneely	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Title:

	 	CEO
	 	 	 	Title:
	 	Vice President	 	 

3.

 

AMENDMENT NO. 02 (“Amendment”)

TO LOAN AND SECURITY AGREEMENT NO. 4561

Entered
into as of November 16, 2006 by and between

Lighthouse Capital Partners V, L.P. (“Lender”) and Fluidigm Corporation (“Borrower”).

Without limiting or amending any other provisions of the Agreement, as amended, Lender and Borrower
agree to the following:

Section 1.1 of the Agreement, the definition of “Subordinated Indebtedness”, shall be amended and
restated to read as follows:

“Subordinated Indebtedness” means Indebtedness of Borrower to Singapore EDB (including its
investment fund BioMedical Sciences Investment Fund Ptd Ltd) and Invus Group that is
subordinated in both security and right of payment to the Obligations on terms and
conditions reasonably satisfactory to Lender in an amount not to exceed $13,000,000.

All capitalized terms not otherwise defined herein shall have the meanings given to such terms in
the Agreement.

	 	 	 	 	 	 	 	 	 	 	 
	Borrower:	 	 	 	Lender:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Fluidigm Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	Lighthouse Management	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Partners
V, L.L.C., its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Rich Delateur
 

	 	 	 	By:
	 	/s/ Darren Haggerty
 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Rich Delateur
	 	 	 	Name:
	 	Darren Haggerty	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Title:

	 	Chief Financial Officer
	 	 	 	Title:
	 	Director of Portfolio Analysis	 	 

1.

 

AMENDMENT NO. 03

Dated August 8, 2007

TO

that certain Loan and Security Agreement No. 4561

dated as of March 29, 2005, as amended (“Agreement”), by and between

Lighthouse Capital Partners V, L.P. (“Lender”) and

Fluidigm Corporation, a Delaware corporation (formerly a California corporation) (“Borrower”).

(All capitalized terms not otherwise defined herein shall have the meanings given to such terms in
the Agreement.)

Without limiting or amending any other provisions of the Loan Documents, Lender and Borrower
agree to the following:

Effective
March 29, 2007, Borrower’s state of incorporation has reincorporated from the State
of California to the State of Delaware.

Except as amended hereby, the Loan Documents remains unmodified and unchanged.

	 	 	 	 	 	 	 	 	 	 	 
	BORROWER:	 	 	 	LENDER:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Fluidigm Corporation	 	 	 	Lighthouse Capital Partners V, L.P.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	Lighthouse Management	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Partners V, L.L.C., its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Gajus Worthington
 

	 	 	 	By:
	 	/s/ Tom Conneely
 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Gajus Worthington
	 	 	 	Name:
	 	Tom Conneely	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Title:

	 	President & CEO
	 	 	 	Title:	 	 Vice President	 	 

 

 

ORIGINAL

AMENDMENT NO. 04

Dated February 15, 2008

TO

that certain Loan and Security Agreement No. 4561

dated as of March 29, 2005, as amended (“Agreement”), by and between

Lighthouse Capital Partners
V, L.P. (“Lender”) and

Fluidigm
Corporation (“Borrower”).

     this Amendment No. 04 (“Amendment 04”) to that certain Loan and Security Agreement
No. 4561 dated March 29, 2005 (as amended to date, the “Agreement) is entered into as of February
15, 2008, by and between
Lighthouse Capital Partners V, L.P. (“Lender”) and Fluidigm
Corporation, a Delaware corporation
(“Borrower”).

     WHEREAS, Borrower and Lender have previously entered into and amended the Agreement; and

     WHEREAS, Borrower has requested Lender provide an additional term loan financing, which
Lender has agreed to provide subject to the terms of this Amendment 04.

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained,
the parties hereby agree to modify the Agreement and to perform such other covenants and conditions
as follows:

(All capitalized terms not otherwise defined herein shall have the meanings given to such terms in
the Agreement.)

I. Section 1.1, the following definitions shall be added to the Agreement:

“Change
of Management or Board Composition ” means that (i) Borrower’s senior management shall not
include Gajus Worthington; (ii) Versant Ventures or any of its affiliated funds shall cease to
have a representative (currently Samuel Colella) serving on Borrower’s Board of Directors; or
(iii) Alloy Ventures or any of its affiliated funds shall cease to have a representative
(currently Mike Hunkapiller) serving on Borrower’s Board of Directors.

“Commitment One” means the Commitment as that term is used in the Agreement prior to the
effect of this Amendment 04.

“Commitment Two” means $10,000,000.

“Commitment Two Warrant” mean the Warrant in favor of Lender to purchase securities of Borrower,
substantially in the form of Exhibit C-2 attached to this Amendment 04 and issued in conjunction
with Commitment Two.

II. Section 1.1, the following definitions of the Agreement shall be deleted in its entirety and
replaced with the following:

“Basic Rate” (i) under Commitment One, as defined in the Notes, as amended pursuant to Amendment
No. 01, and (ii) under Commitment Two, as defined in the Notes for Advances under Commitment Two.

“Commitment” means Commitment One and Commitment Two.

“Commitment Fee” means $10,000 under Commitment One and $10,000 under Commitment Two.

“Commitment Termination Date” has occurred for Commitment One, and for Commitment Two it means the
earliest to occur of (i) July 1, 2008; (ii) any Default or Event of Default, or (iii) Change of
Management or Board Composition (unless Lender has waived this condition in writing).

“Disclosure Schedule” means the Disclosure Schedule delivered to Lender in connection with the
execution and delivery of Amendment No. 04 to this Agreement.

“Loan Commencement Date” means (i) for Advances under Commitment One, as defined in the Notes, as
amended pursuant to Amendment No. 01, and (ii) for Advances under Commitment Two, as defined in
the Notes for Advances under Commitment Two.

1

 

“Note” means (i) in connection with Advances under Commitment One, Secured Promissory Notes in the
form of Exhibit B, and (ii) in connection with Advances under Commitment Two, Secured Promissory
Notes in the form of Exhibits B-2 to Amendment 04.

“Notice of Borrowing” means (i) in connection with Advances under Commitment One, the form
attached as Exhibit D, and (ii) in connection with Advances under Commitment Two in the form of
Exhibit D-2 attached to Amendment 04.

“Warrant” means (i) all Warrants issued by Borrower to Lender prior to the date of Amendment 04,
and (ii) the Commitment Two Warrant.

III. Section 6.2 — Section 6.2 of the Agreement shall be amended deleted in its entirety and
replaced with the following:

6.2
Financial Statements, Reports, Certificates. Borrower shall deliver to Lender: (i) as soon as
prepared, and no later than 30 days after the end of each calendar quarter, a balance sheet,
income statement and cash flow statement covering Borrower’s operations for each of the three
months during such period, provided for each calendar month ending after the calendar quarter
ending on September 30, 2008, Borrower shall deliver to Lender as soon as prepared, and no later
than 30 days after the end of each calendar month, a balance sheet, income statement and cash flow
statement covering Borrower’s operations during such period; (ii) as soon as prepared, but no
later than 90 days after the end of the fiscal year, or such other timeframe formally approved by
Borrower’s audit committee, audited financial statements prepared in accordance with GAAP,
together with an opinion that such financial statements fairly present Borrower’s financial
condition by an independent public accounting firm reasonably acceptable to Lender; (iii)
immediately upon notice thereof, a report of any legal or administrative action pending or
threatened in writing against Borrower which is likely to result in liability to Borrower in
excess of $100,000 (provided that Borrower shall not be required to report notices of possibly
relevant third party patents, or proposals or demands to license intellectual property); and (iv)
such other financial information as Lender may reasonably request from time to time. Financial
statements delivered pursuant to subsections (i) and (ii) above shall be accompanied by a
certificate signed by a Responsible Officer (each an “Officer’s Certificate”) in the form of
Exhibit F.

IV. Section 3 — Conditions of Advances; Procedure for requesting Advances; the following new
Sections 3.2 and 3.3 shall be added:

3.2 Procedure for Making Advances. For any Advance, Borrower shall provide Lender an irrevocable
Notice of Borrowing at least 15 business days prior to the desired Funding Date and Lender shall
only be required to make Advances hereunder based upon written requests which comply with the
terms and exhibits of this Loan Agreement (as the same may be amended from time to time), and
which are submitted and signed by a Responsible Officer. Borrower shall execute and deliver to
Lender a Note and such other documents and instruments as Lender may reasonably require for each
Advance made.

3.3. Conditions Precedent to Initial Advance under Commitment Two. The obligation of Lender to
make the Initial Advance under Commitment Two is subject the satisfaction of each of the following
conditions:

               (a) This Amendment 04 duly executed by Borrower.

               (b) The Commitment Two Warrant to be issued to Lender duly executed by
Borrower.

               (c) Delivery to Ledner of an officer’s certificate of Borrower with copies of
the following documents
attached: (i) the certificate of incorporation and by-laws or other organizational documents of
Borrower certified by Borrower as being in full force and effect as of the date of Amendment 04,
(ii) incumbency and representative signatures, and (iii) resolutions authorizing the execution and
delivery of Amendment 04 and each of the other Loan Documents.

               (d) Delivery to Lender of a good standing certificate from Borrower’s state of
incorporation or formation
and the state in which Borrower’s principal place of business is located, together with
certificates of the applicable governmental authorities stating that Borrower is in compliance with
the franchise tax laws of each such state, each dated as of a recent date.

               (e) Borrower has obtained all necessary consents of shareholders, members, and
other third parties with
respect to the execution, delivery and performance of the Agreement, Amendment 04, the Commitment
Two Warrant, and the other Loan Documents.

               (f) Borrower shall have satisfied all the conditions set forth in Section 3.1
and 3.2 of the Agreement.

3.4 Reaffirmation Subject to the Disclosure Schedule attached hereto as Schedule 1, Borrower
reaffirms the representations and warranties made to Lender in the Agreement as of the date hereof
as though fully set forth herein.

2

 

3.5 Existing Notes Notes for Advances under Commitment Two are not affected by
Amendment No. 01 and Notes for Advances under Commitment One remain subject to Amendment No.
01

V. Further Terms and Conditions of this Amendment 04.

	 	1.	 	Representations and Warranties of Borrower. Borrower warrants and
represents, as a significant material inducement to
Lender to enter hereinto, that: (i) no Events of Default have occurred and are
continuing that have not been disclosed to
Lender by Borrower in writing; (ii) it is not and has no reason to believe it may be
named as a party to any judicial or administrative proceeding, litigation or
arbitration, and has not received any written communication from any person or entity
(whether
private or governmental) threatening or indicating the same, except
to the extent that
any such written communication could not
reasonably be expected to result in a material adverse effect on Borrower’s business;
and (iii) it is in full compliance with Section
7.10 of the Loan and Security Agreement.
	 
	 	2.	 	No Control. Borrower warrants and represents, as a significant material
inducement to Lender to enter hereinto, that none of
Lender nor any affiliate, officer, director, employee, agent, or attorney of Lender,
have at any time, from Borrower’s date of
formation through to the date hereof, (i) exercised management or other control over the
Borrower, (ii) exercised undue influence
over Borrower or any of its officers, employees or directors, (iii) made any
representation or warranty, express or implied, to any
party on behalf of Borrower, (iv) entered into any joint venture, agency relationship,
employment relationship, or partnership with
Borrower, (v) directed or instructed Borrower on the manner, method, amount, or identity
of payee of any payment made to any
creditor of Borrower, and further, Borrower warrants and represents that by entering
hereinto with Lender has not, are not and will
not have engaged in any of the foregoing.
	 
	 	3.	 	Integration Clause. This Agreement represents and documents the entirety
of the agreement and understanding of the parties
hereto with respect to its subject matter. All prior understandings, whether oral or
written, other than the Loan Documents,
are hereby merged hereinto. NEITHER THE LOAN AND SECURITY AGREEMENT NOR THIS AGREEMENT
MAY BE MODIFIED EXCEPT BY A WRITING SIGNED BY LENDER AND BORROWER. Each provision hereof
shall be severable from every other provision when determining its legal enforceability
such that Lender’s rights and
remedies under this Agreement and the Loan Documents may be enforced to the maximum
extent permitted under applicable
law. This Agreement shall be binding upon, and inure to the benefit of, each party’s
respective permitted successors and
assigns. This Agreement may be executed in counterpart originals, all of which, when
taken together, shall constitute one
and the same original document. No provision of any other document between Lender and
Borrower shall limit the
effectiveness hereof or the rights and remedies of Lender against Borrower. In the
event of any contradiction or
inconsistency among the terms and conditions of this Agreement or any Loan Document, the
interpretation most favorable to
the interests of Lender shall prevail.

Except as amended hereby, the Agreement remains unmodified and unchanged.

	 	 	 	 	 	 	 	 	 	 	 
	BORROWER:	 	 	 	LENDER:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	FLUIDIGM CORPORATION	 	 	 	LIGHTHOUSE CAPITAL PARTNERS V, L.P.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Gajus Worthington
 

	 	 
	 	By:
	 	LIGHTHOUSE MANAGEMENT PARTNERS V, L.L.C.,
	Name:

	 	Gajus Worthington	 	 	 	 	 	its general partner 	 	 
	Title:
	 	President and CEO	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	By:
	 	/s/ Thomas Conneely
 

	 	 
	 

	 	 	 	 	 	Name:
	 	Thomas Conneely	 	 
	 

	 	 	 	 	 	Title:
	 	Vice President	 	 

3

 

Exhibit B-2 

(Commitment Two)

[                    ]

Secured Promissory Note

This
Secured Promissory
Note (this “Note”) is
made                               , 2008, by Fluidigm Corporation
(“Borrower”) in favor of Lighthouse Capital Partners V, L.P. (collectively with its assigns, “Lender”). Initially
capitalized terms used and not otherwise defined herein are defined in that certain Loan and
Security Agreement No. 4561 between Borrower and Lender dated
March 29, 2005, as amended (the “Loan
Agreement”).

For
Value Received, Borrower promises to pay in lawful money of the United States, to the
order of Lender, at 500 Drake’s Landing Road, Greenbrae, California 94904, or such other place as
Lender may from time to time designate (“Lender’s Office”), the principal
sum of
$                             
(the “Advance”), including interest on the unpaid balance and all other amounts due or to
become due hereunder according to the terms hereof and of the Loan Agreement.

“Basic Rate” means a fixed per annum rate of interest equal 8.5%.

“Final Payment” means 6.5% of the Advance.

“Loan Commencement Date” means January 1,2009.

“Maturity Date” means the last day of the Repayment Period, or if earlier, the date of prepayment
under the Note.

“Payment Date” means the first day of each calendar month.

“Prepayment Fee” means (i) if prepaid in the calendar years 2008 or 2009, 3% of the outstanding
principal amount being prepaid; (ii) if prepaid in the calendar year 2010, 2% of the outstanding
principal amount being prepaid; and (iii) if prepaid in the calendar year 2011 or thereafter, 1%
of the outstanding principal amount being prepaid.

“Repayment Period” means the period beginning on the Loan Commencement Date and continuing for 30
calendar months.

1. Repayment. Borrower shall pay principal and interest due hereunder from the Funding Date, until
this Note is paid in full,
on each Payment Date pursuant to the terms of the Loan Agreement and this Note. Borrower shall
pay to Lender, monthly in
advance on each Payment Date, interest calculated using the Basic Rate. Beginning on the Loan
Commencement Date and on each
Payment Date thereafter during the Repayment Period, Borrower shall make equal installments of
principal and interest in advance,
calculated at the Basic Rate. On the Maturity Date, Borrower shall pay, in addition to all unpaid
principal and interest outstanding
hereunder, the Final Payment.

2.
Interest. Interest not paid when due will, to the maximum extent permitted under applicable law,
become part of principal,
at Lender’s option, and thereafter bear like interest as principal. Interest shall be computed on
the basis of a 360 day year. All
Obligations not paid when due shall bear interest at the Default Rate unless waived in writing by
Lender. All amounts paid hereunder
will be applied to the Obligations in Lender’s discretion and as provided in the Loan Agreement.

3. Voluntary Prepayment. Borrower may prepay the Note if and only if Borrower pays to Lender (i)
the outstanding principal
amount of this Note and any unpaid accrued interest (ii) the Final Payment, (iv) the Prepayment
Fee, and (v) all other sums, if any, that
shall have become due and payable hereunder with respect to this Note.

4. Collateral. This Note is secured by the Collateral.

5. Waivers. Borrower, and all guarantors and endorsers of this Note, regardless of the time, order
or place of signing, hereby
waive notice, demand, presentment, protest, and notices of every kind, presentment for the purpose
of accelerating maturity, diligence
in collection to the fullest extent permitted by law.

6. Choice of Law; Venue. This Note shall be governed by, and construed in accordance with the
internal
laws of the State of California, without regard to principles of conflicts of law. Each of
Borrower and
Lender hereby submits to the exclusive jurisdiction of the State and Federal courts located in
the City and

1

 

County of San Francisco, State of California. Borrower and Lender each hereby waive their
respective rights to a jury trial of any claim or cause of action based upon or arising out of this
Note. Each party further waives any right to consolidate any action in which a jury trial has been
waived with any other action in which a jury trial cannot be or has not been waived.

7. Miscellaneous. This Note may be modified only by a writing signed by Borrower and
Lender. Each provision
hereof is severable from every other provision hereof and of the Loan Agreement when determining
its legal enforceability. Sections and subsections are titled for convenience, and not for
construction. “Hereof,” “herein,” “hereunder,” and similar words refer to this Note in its
entirety. “Or” is not necessarily exclusive. “Including” is not limiting. The terms and conditions
hereof inure to the benefit of and are binding upon the parties’ respective permitted successors
and assigns. This Note is subject to all the terms and conditions of the Loan Agreement.

In Witness Whereof, Borrower has caused this Note to be executed by a duly authorized
officer as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

2

 

EXHIBIT
C-2

NEITHER THIS WARRANT NOR THE SHARES OF CAPITAL STOCK ISSUABLE UPON EXERCISE HEREOF HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR ANY APPLICABLE STATE
SECURITIES LAWS. SUCH SECURITIES MAY NOT BE SOLD OR TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN
ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR THE COMPANY HAS
RECEIVED AN OPINION OF COUNSEL, REASONABLY ACCEPTABLE TO THE COMPANY, TO THE EFFECT THAT SUCH SALE
OR TRANSFER IS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS.

PREFERRED STOCK PURCHASE WARRANT

	 	 	 
	Warrant No.                                                            

	 	Number of Shares: initially, 100,000
	 

	 	Series E Preferred Stock
	 

	 	subject to increase as set forth below

Fluidigm Corporation

Effective as of February 15, 2008

Void after February 15, 2015

     1. Issuance. This Preferred Stock Purchase Warrant (the “Warrant”) is issued to
Lighthouse
Capital Partners
V,
L.P. by Fluidigm Corporation, a Delaware corporation
(hereinafter with its successors
called the “Company”).

     2. Purchase Price; Number of Shares.

     (a) The registered holder of this Warrant (the “Holder”), commencing on the date hereof, is
entitled
upon surrender of this Warrant with the subscription form annexed hereto duly executed, at the
principal office of
the Company, to purchase from the Company, at a price per share of $4.00 (the “Purchase
Price”), 100,000 fully
paid and nonassessable shares of the Company’s Series E Preferred Stock, (the “Exercise
Quantity”), $0.001 par
value (the “Preferred Stock”).

     (b) On the Commitment Termination Date, the Exercise Quantity shall automatically be increased
by
such additional number of shares (rounded to the nearest whole share) of Series E Preferred
Stock, if any, as is equal
to the amount determined by dividing (A) 8% of the Aggregate Advances under the Loan
Agreement, if any, by (B)
the Purchase Price

In addition to other terms which may be defined herein, the following terms, as used in this
Warrant, shall have the following meanings:

	 	(i)	 	“Aggregate Advances” means the aggregate original dollar amount of all
Advances made under Commitment Two of the Loan Agreement, whether such Advances are
outstanding or prepaid, at the time of any scheduled adjustment to the Exercise
Quantity.
	 
	 	(ii)	 	“Loan Agreement” means that certain Loan and Security Agreement No. 4561 dated
March 29, 2005 between the Company and Lighthouse Capital Partners V, L.P., as
amended.

Any capitalized term not defined herein shall have the meaning as set forth in the Loan Agreement.

Until such time as this Warrant is exercised in full or expires, the Purchase Price and the
securities issuable upon exercise of this Warrant are subject to adjustment as hereinafter
provided. The person or persons in whose name or

 

 

names any certificate representing shares of Preferred Stock is issued hereunder shall be deemed
to have become the holder of record of the shares represented thereby as at the close of business
on the date this Warrant is exercised with respect to such shares, whether or not the transfer
books of the Company shall be closed.

     3. Payment of Purchase Price. The Purchase Price may be paid (i) in cash or by check, (ii) by
the
surrender by the Holder to the Company of any promissory notes or other obligations issued by
the Company, with
all such notes and obligations so surrendered being credited against the Purchase Price in an
amount equal to the
principal amount thereof plus accrued interest to the date of surrender, or (iii) by any
combination of the foregoing.

     4. Net Issue Election. The Holder may elect to receive, without the payment by the Holder of
any
additional consideration, shares of Preferred Stock equal to the value of this Warrant or any
portion hereof by the
surrender of this Warrant or such portion to the Company, with the net issue election notice
annexed hereto duly
executed, at the principal office of the Company. Thereupon, the Company shall issue to the
Holder such number of
fully paid and nonassessable shares of Preferred Stock as is computed using the following
formula:

X=Y(A-B)
A

	 	 	 
	where:  X=

	 	the number of shares of Preferred Stock to be issued to the Holder
pursuant to this Section 4.
	Y=

	 	the number of shares of Preferred Stock covered by
this Warrant in respect of which the net issue election is made pursuant to
this Section 4.
	A=

	 	the Fair Market Value (defined below) of one share of
Preferred Stock, as determined at the time the net issue election is made
pursuant to this Section 4.
	B=

	 	the Purchase Price in effect under this Warrant at the
time the net issue election is made pursuant to this Section 4.

          “Fair Market Value” of a share of Preferred Stock (or fully paid and nonassessable shares of
the Company’s common stock, $0.001 par value (the “Common Stock”) if the Preferred Stock has been
automatically converted into Common Stock) as of the date that the net issue election is made (the
“Determination Date”) shall mean:

          (i) If the net issue election is made in connection with and contingent upon the
closing of the
sale of the Company’s Common Stock to the public in a public offering pursuant to a Registration
Statement under the Securities Act of 1933, as amended (a “Public Offering”), and if the Company’s
Registration Statement relating to such Public Offering (“Registration Statement”) has been
declared effective by the Securities and Exchange Commission, then the initial “Price to Public”
specified in the final prospectus with respect to such offering multiplied by the number of shares
of Common Stock into which each share of Preferred Stock is then convertible.

          (ii) If the net issue election is not made in connection with and contingent upon a Public
Offering, then as follows:

               (a) If traded on a securities exchange or the Nasdaq National Market, the fair
market value of the Common Stock shall be deemed to be the average of the closing or last reported
sale prices of the Common Stock on such exchange or market over the five day period ending five
trading days prior to the Determination Date, and the fair market value of the Preferred Stock
shall be deemed to be such fair market value of the Common Stock multiplied by the number of shares
of Common Stock into which each share of Preferred Stock is then convertible;

2.

 

               (b) If otherwise traded in an over-the-counter market, the fair market value
of the
Common Stock shall be deemed to be the average of the closing ask prices of the Common Stock over
the five day period ending five trading days prior to the Determination Date, and the fair market
value of the Preferred Stock shall be deemed to be such fair market value of the Common Stock
multiplied by the number of shares of Common Stock into which each share of Preferred Stock is then
convertible; and

               (c) If there is no public market for the Common Stock, then fair market value shall
be determined in good faith by the Company’s Board of Directors.

     5. Partial Exercise. This Warrant may be exercised in part, and the Holder shall be entitled
to
receive a new warrant, which shall be dated as of the date of this Warrant, covering the
number of shares in respect
of which this Warrant shall not have been exercised.

     6. Fractional Shares. In no event shall any fractional share of Preferred Stock be issued
upon any
exercise of this Warrant. If, upon exercise of this Warrant in its entirety, the Holder
would, except as provided in
this Section 6, be entitled to receive a fractional share of Preferred Stock, then the Company
shall issue the next
higher number of full shares of Preferred Stock, issuing a full share with respect to such
fractional share.

     7. Expiration Date; Automatic Exercise. This Warrant shall expire at the close of
business on
February 15, 2015, and shall be void thereafter (the “Expiration Date”). Notwithstanding the
term of this Warrant
fixed pursuant to this Section 7, and provided Holder has received advance written notice of
at least twenty (20)
days and has not earlier exercised this Warrant, and provided this Warrant has not been
assumed by the successor
entity (or parent thereof), upon the consummation of a Merger (as defined below), this Warrant
shall automatically
be exercised pursuant to Section 4 hereof, without any action by Holder. “Merger” means: (i)
a sale of all or
substantially all of the Company’s assets to an Unaffiliated Entity (as defined below), or
(ii) the merger,
consolidation or acquisition of the Company with, into or by an Unaffiliated Entity (other
than a merger or
consolidation for the principle purpose of changing the domicile of the Company or a bona fide
round of preferred
stock equity financing), that results in the Company’s shareholders immediately prior to such
merger, consolidation,
or acquisition holding, immediately thereafter, less than a majority of the outstanding
voting securities of the
successor corporation or its parent. “Unaffiliated Entity” means any entity that is owned
or controlled by parties
who own less than twenty percent (20%) of the combined voting power of the voting securities
of the Company
immediately prior to such merger or sale of assets, consolidation or acquisition.
Notwithstanding the foregoing, in
the event that any outstanding warrants to purchase equity securities of the Company (it being
acknowledged and
agreed that options to acquire common stock issued to officers, directors, employees and
consultants shall not be
deemed “warrants”) are assumed by the successor entity of a Merger (or parent thereof), this
Warrant shall also be
similarly assumed and the automatic exercise provision in this Section 7 shall have no effect.
The Company agrees
to give the Holder written notice promptly after it has entered into a definitive agreement
relating to any proposed
Merger and written notice of termination of any definitive agreement relating to any
proposed Merger.
Notwithstanding anything to the contrary in this Warrant, (i) the Holder may expressly make
any voluntary exercise
of this Warrant contingent on, and effective immediately prior to, the consummation of such
Merger and (ii) any
automatic exercise of this Warrant in connection with a Merger shall be conditioned on
consummation of such
Merger and shall be effective immediately prior thereto.

     8. Reserved Shares; Valid Issuance. The Company covenants that it will at all times from and
after
the date hereof reserve and keep available such number of its authorized shares of Preferred
Stock and Common
Stock free from all preemptive or similar rights therein, as will be sufficient to permit,
respectively, the exercise of
this Warrant in full and the conversion into shares of Common Stock of all shares of Preferred
Stock receivable
upon such exercise. The Company further covenants that such shares as may be issued pursuant
to such exercise
and/or conversion will, upon issuance, be duly and validly issued, fully paid and
nonassessable and free from all
taxes, liens and charges with respect to the issuance thereof.

     9. Stock Splits and Dividends. If after the date hereof the Company shall subdivide the
Preferred
Stock, by split-up or otherwise, or combine the Preferred Stock, or issue additional shares of
Preferred Stock in
payment of a stock dividend on the Preferred Stock, the number of shares of Preferred Stock
issuable on the exercise

3.

 

of this Warrant shall forthwith be proportionately increased in the case of a subdivision or stock
dividend, or proportionately decreased in the case of a combination, and the Purchase Price shall
forthwith be proportionately decreased in the case of a subdivision or stock dividend, or
proportionately increased in the case of a combination.

     10. Adjustments for Diluting Issuances. The antidilution rights applicable to the Series E
Preferred Stock of the Company are set forth in the Amended and Restated Certificate of
Incorporation, as amended from time to time (the “Articles”), a true and complete copy in its
current form which has been made available to Holder. Such rights shall not be restated, amended
or modified in any manner which affects the Holder differently than the holders of outstanding
Series E Preferred Stock without such Holder’s prior written consent. The Company shall provide
the Holder hereof with any restatement, amendment or modification to the Articles promptly after
the same has been made.

          11. Mergers and Reclassifications. (a) Except as set forth in Section 7, If after the date
hereof the Company shall enter into any Reorganization (as hereinafter defined), then, as a
condition of such Reorganization, lawful provisions shall be made, and duly executed documents
evidencing the same from the Company or its successor shall be delivered to the Holder, so that the
Holder shall thereafter have the right to purchase, at a total price not to exceed that payable
upon the exercise of this Warrant in full, the kind and amount of shares of stock and other
securities and property receivable upon such Reorganization by a holder of the number of shares of
Preferred Stock which might have been purchased by the Holder immediately prior to such
Reorganization, and in any such case appropriate provisions shall be made with respect to the
rights and interest of the Holder to the end that the provisions hereof (including without
limitation, provisions for the adjustment of the Purchase Price and the number of shares issuable
hereunder and the provisions relating to the net issue election) shall thereafter be applicable in
relation to any shares of stock or other securities and property thereafter deliverable upon
exercise hereof. For the purposes of this Section 11, the term “Reorganization” shall include
without limitation any reclassification, capital reorganization or change of the Preferred Stock
(other than as a result of a subdivision, combination or stock dividend provided for in Section 9
hereof), or any consolidation of the Company with, or merger of the Company into, another
corporation or other business organization (other than a merger in which the Company is the
surviving corporation and which does not result in any reclassification or change of the
outstanding Preferred Stock), or any sale or conveyance to another corporation or other business
organization of all or substantially all of the assets of the Company.

          (b) Notwithstanding any other provision of this Warrant, in the event of an automatic
conversion of the Company’s outstanding Series E Preferred Stock into Common Stock in accordance
with the Company’s Articles, as in effect from time to time, this Warrant shall thereafter
represent the right to acquire for the aggregate Purchase Price (as then in effect) the number of
shares of Common Stock into which the number of shares of Preferred Stock issuable upon exercise
of this Warrant would have then been convertible.

     12. Certificate of Adjustment. Whenever the Purchase Price is adjusted, as herein provided,
the
Company shall promptly deliver to the Holder a certificate of the Company’s chief financial
officer (or other
appropriate officer) setting forth the Purchase Price after such adjustment and setting forth
a brief statement of the
facts requiring such adjustment.

     13. Notices of Record Date, Etc. In the event of:

          (a) any taking by the Company of a record of the holders of any class of securities for the
purpose of determining the holders thereof who are entitled to receive any dividend or other
distribution, or any right
to subscribe for, purchase, sell or otherwise acquire or dispose of any shares of stock of any
class or any other
securities or property, or to receive any other right;

          (b) any reclassification of the capital stock of the Company, capital reorganization of the
Company, consolidation or merger involving the Company, or sale or conveyance of all or
substantially all of its
assets; or

          (c) any voluntary or involuntary dissolution, liquidation or winding-up of the
Company;

4.

 

then in each such event the Company will provide or cause to be provided to the Holder a written
notice thereof. Such notice shall be provided at least twenty (20) business days prior to the date
specified in such notice on which any such action is to be taken.

     14. Representations, Warranties and Covenants. This Warrant is issued and delivered by the
Company and accepted by each Holder on the basis of the following representations, warranties and
covenants made by the Company:

          (a) The Company has all necessary corporate power and authority to issue, execute and
deliver this Warrant and to perform its obligations hereunder. This Warrant has been duly
authorized issued,
executed and delivered by the Company and is the valid and binding obligation of the Company,
enforceable in
accordance with its terms, except as enforceability may be limited by bankruptcy or similar
laws relating to the
enforcement of creditors’ rights generally.

          (b) The shares of Preferred Stock issuable upon the exercise of this Warrant have been duly
authorized and reserved for issuance by the Company and, when issued in accordance with the
terms hereof, will be
validly issued, fully paid and nonassessable.

          (c) The
issuance, execution and delivery of this Warrant do not, and the issuance of the shares of Preferred Stock upon the exercise of this Warrant in accordance with the terms
hereof will not, (i) violate
or contravene the Company’s Articles or by-laws, or any law, statute, regulation, rule,
judgment or order applicable
to the Company, (ii) violate, contravene or result in a breach or default under any contract,
agreement or instrument
to which the Company is a party or by which the Company or any of its assets are bound or
(iii) require the consent
or approval of or the filing of any notice or registration with any person or entity (other
than such notices or filings
as may be required under applicable securities laws).

          (d) As long as this Warrant is, or any shares of Preferred Stock issued upon exercise of this
Warrant or any shares of Common Stock issued upon conversion of such shares of Preferred Stock
are, issued and
outstanding, the Company will provide to the Holder the financial and other information
described in that certain
Loan and Security Agreement No. 4561 between the Company and Lighthouse Capital Partners V,
L.P. dated as of
March 29, 2005, as amended.

          (e) As of the date hereof, the authorized capital stock of the Company consists of (i)
87,385,839 shares of Common Stock, of which 9,946,605 shares are issued and outstanding and
300,000 shares are
reserved for issuance upon the exercise of this Warrant with respect to Common Stock and the
conversion of the
Preferred Stock into Common Stock if this Warrant is exercised with respect to Preferred
Stock, (ii) 2,727,273
shares of Series A Preferred Stock, of which 2,727,273 are issued and outstanding shares,
(iii) 6,460,675 shares of
Series B Preferred Stock, of which 6,460,675 are issued and outstanding shares, (iv)
16,854,624 shares of Series C
Preferred Stock, of which 16,364,832 are issued and outstanding shares, (v) 13,962,261 shares
of Series D Preferred
Stock, of which 13,353,333 are issued and outstanding shares and (vi) 20,109,947 shares of
Series E Preferred
Stock, of which 17,764,781 are issued and outstanding shares. Company has delivered a
capitalization table to
Holder summarizing the capitalization of the Company. At the request of Holder, not more than
once per calendar
quarter, the Company will provide Holder with a current capitalization table indicating
changes, if any, to the
number of outstanding shares of common stock and preferred stock.

5.

 

     15. Registration Rights. The Company grants, upon effectiveness of the Rights Agreement
referenced herein, to the Holder all the rights of a “Holder” and an “Investor” under the
Company’s Eighth Amended
and Restated Investors’ Rights Agreement dated as of June 13, 2006, as amended from time to
time (the “Rights
Agreement”), including, without limitation, the registration rights contained therein, and
agrees to solicit approval to
amend the Rights Agreement so that (i) the shares of Common Stock issuable upon conversion of
the shares of
Preferred Stock issuable upon exercise of this Warrant shall be “Registrable Securities,” and
(ii) the Holder shall be
a “Holder” and an “Investor” for all purposes of such Rights Agreement.

     16. Amendment. The terms of this Warrant may be amended, modified or waived only with the
written consent of the Holder and the Company.

     17. Representations and Covenants of the Holder. This Warrant has been entered into by the
Company in reliance upon the following representations and covenants of the Holder, which by
its execution hereof
the Holder hereby confirms:

          (a) Investment Purpose. The right to acquire Preferred Stock or the Preferred Stock
issuable upon exercise of the Holder’s rights contained herein will be acquired for investment
and not with a view to
the sale or distribution of any part thereof, and the Holder has no present intention of
selling or engaging in any
public distribution of the same except pursuant to a registration or exemption.

          (b) Accredited Investor. Holder is an “accredited investor” within the meaning of Rule 501
of Regulation D, promulgated under the 1933 Act as presently in effect.

          (c) Private Issue. The Holder understands (i) that neither the issuance of this Warrant nor
the issuance of any shares of the Company’s capital stock issuable upon exercise of the
Holder’s rights contained
herein has been registered under the 1933 Act or qualified under applicable state securities
laws on the ground that
the issuances contemplated by this Warrant will be exempt from the registration and
qualifications requirements
thereof, and (ii) that the Company’s reliance on such exemption is predicated on the
representations of the Holderset
forth in this Section 17.

          (d) Financial Risk. The Holder has such knowledge and experience in financial and
business matters as to be capable of evaluating the merits and risks of its investment and has
the ability to bear the
economic risks of its investment.

     18. Notices, Transfers, Etc.

          (a) Any notice or written communication required or permitted to be given to the Holder may
be given by certified mail or delivered to the Holder at the address most recently provided by
the Holder to the
Company.

          (b) Subject to compliance with applicable federal and state securities laws, this Warrant may
be transferred by the Holder with respect to any or all of the shares purchasable hereunder.
Upon surrender of this
Warrant to the Company, together with the assignment notice annexed hereto duly executed, for
transfer of this
Warrant as an entirety by the Holder, the Company shall issue a new warrant of the same
denomination to the
assignee. Upon surrender of this Warrant to the Company, together with the assignment hereof
properly endorsed,
by the Holder for transfer with respect to a portion of the shares of Preferred Stock
purchasable hereunder, the
Company shall issue a new warrant to the assignee, in such denomination as shall be requested
by the Holder hereof,
and shall issue to such Holder a new warrant covering the number of shares in respect of which
this Warrant shall
not have been transferred.

          (c) In case this Warrant shall be mutilated, lost, stolen or destroyed, the Company shall
issue
a new warrant of like tenor and denomination and deliver the same (i) in exchange and
substitution for and upon
surrender and cancellation of any mutilated Warrant, or (ii) in lieu of any Warrant lost,
stolen or destroyed, upon

6.

 

receipt of an affidavit of the Holder or other evidence reasonably satisfactory to the Company of
the loss, theft or destruction of such Warrant

     19. No Impairment. The Company will not, by amendment of its Articles or through any
reclassification, capital reorganization, consolidation, merger, sale or conveyance of assets,
dissolution, liquidation,
issue or sale of securities or any other voluntary action, avoid or seek to avoid the
observance of performance of any
of the terms of this Warrant, but will at all times in good faith assist in the carrying out
of all such terms and in the
taking of all such action as may be necessary or appropriate in order to protect the rights of
the Holder. In no event
shall any reclassification, capital reorganization, consolidation, merger, sale or conveyance
of assets, dissolution,
liquidation, issue or sale of securities or any other transaction be deemed an “impairment”
for purposes of this
Section 18 if the shares of the Company’s capital stock issuable upon exercise of this Warrant
are affected thereby in
the same manner as outstanding shares of such capital stock.

     20. Governing Law. The provisions and terms of this Warrant shall be governed by and construed
in
accordance with the internal laws of the State of California without giving effect to its
principles regarding conflicts
of laws.

     21. Successors and Assigns. This Warrant shall be binding upon the Company’s successors and
assigns and shall inure to the benefit of the Holder’s successors, legal representatives and
permitted assigns.

     22. Business Days. If the last or appointed day for the taking of any action required or the
expiration
of any rights granted herein shall be a Saturday or Sunday or a legal holiday in California,
then such action may be
taken or right may be exercised on the next succeeding day which is not a Saturday or Sunday
or such a legal
holiday.

     23. Value. The Company and the Holder agree that the value of this Warrant on the date of
grant is
$100.

	 	 	 	 	 
	 	 	Fluidigm Corporation
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 

7.

 

Subscription

	 	 	 	 	 
	To:

	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Date:
	 	 	 	 
	 

	 	 	 	 

The undersigned hereby subscribes for_________shares of Preferred Stock covered by this
Warrant. The
certificate(s) for such shares shall be issued in the name of the undersigned or as otherwise
indicated below:

	 	 	 
	 
	 	 
	 
 

	 	  
	Signature

	 	 
	 
	 	 
	 

Name for Registration

	 	 
	 
	 	 
	 

Mailing Address

	 	 

 

 

Net Issue Election Notice

	 	 	 	 	 	 	 	 	 
	To:

	 	 	 	 	 	Date:	 	 
	 

	 	 
	 	 	 	 	 	 

The undersigned hereby elects under Section 4 to surrender the right to purchase shares of
Preferred Stock pursuant to this Warrant. The certificate(s) for such shares issuable upon such net
issue election shall be issued in the name of the undersigned or as otherwise indicated below:

	 	 	 
	 
	 	 
	 
 

	 	  
	Signature

	 	 
	 
	 	 
	 

Name for Registration

	 	 
	 
	 	 
	 

Mailing Address

	 	 

 

 

Assignment

For value received _____________________________ hereby sells, assigns and transfers unto

	 	 	 
	 
	 	 
	 
	 
	 	 
	 

[Please print or typewrite name and address of Assignee]

	 	 	 
	 
	 	 
	 

the within
Warrant, and does hereby irrevocably constitute and appoint
_____________________________ its attorney to transfer the within Warrant on the books of the within named Company with full
power of substitution on the premises.

	 	 	 	 	 
	Dated:

	 	 	 	 
	 

	 	 	 	 

	 	 	 
	 
	 	 
	 
 

	 	  
	Signature

	 	 
	 
	 	 
	 

Name for Registration

	 	 

In the Presence of:

	 	 	 
	 
	 	 
	 
 

	 	  

 

 

Exhibit D-2

Notice of Borrowing

                    , ________

Lighthouse
Capital Partners V, L.P.

500 Drake’s Landing Road

Greenbrae, CA 94904-3011

Ladies and Gentlemen:

     Reference
is made to the Loan and Security Agreement No. 4561 dated as of March 29, 2005 (as
it has been and may be amended from time to time, the “Loan Agreement,” initially capitalized
terms used herein as defined therein), between Lighthouse Capital Partners V, L.P. and
Fluidigm Corporation (the “Company”)

     The undersigned is the President and CEO of the Company, and hereby irrevocably requests an
Advance under the Loan Agreement, and in that connection certifies as follows:

     1. The amount of the proposed Advance is $                    . The business day of the proposed Advance is                     .

     2. The
Loan Commencement Date for this Advance shall be March 1, 2006.

     3. As of this date, no Event of Default, or event which with notice or the passage of time
would constitute an Event of Default, has occurred and is continuing, or will result from the
making of the proposed Advance, and the representations and warranties of the Company contained in
Section 5 of the Loan Agreement are true and correct in all material respects.

     4. No event that could reasonably be expected to have a material adverse effect on the
ability of Borrower to fulfill its obligations under the Loan Agreement has occurred since the
date of the most recent financial statements, submitted to you by the Company.

     The Company agrees to notify you promptly before the funding of the Advance if any of the
matters to which I have certified above shall not be true and correct
on the Funding Date.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

1

 

Schedule 1

Disclosure Schedule

Deposit and Securities Accounts

	 	 	 	 	 
	 	 	Account Information:	 	Contact Information for
	 	 	 	 	Account:
	Account
	 	Company Name: Wells Fargo Bank	 	Contact Name: Gerry Klein
	Number
	 	Address: 420 Montgomery Street, 9th	 	Phone: 415.396.2961
	1
	 	Floor	 	Fax: 415.975.7573
	 
	 	City, State, Zip:    San Francisco, CA 94104	 	E-mail: gerry.h.klein@wellsfargo.com
	 
	 	Phone:	 	 
	 
	 	Fax:	 	 
	 
	 	Type of Account:   Checking, Payroll	 	 
	 
	 	Account number: [***], [***]	 	 
	 
	 	 	 	 
	Account
	 	Company Name: Morgan Stanley	 	Contact Name: Thomas Piliero/WAXMAN
	Number
	 	Address: 555 California Street, Suite 1400	 	Phone: 415-576-2016
	2
	 	City, State, Zip: San Francisco, CA 94104	 	Fax: 415-576-2060
	 
	 	Phone: 415.576.2016	 	E-mail: Thomas.Piliero@morganstanley.com
	 
	 	Fax: 415-576-2060	 	 
	 
	 	Type of Account: Investment	 	 
	 
	 	Account number: [***]	 	 
	 
	 	 	 	 
	Account
	 	Company Name: Silicon Valley Bank	 	Contact Name: Michael White
	Number
	 	Address: 3003 Tasman Drive, HF 195	 	Phone: 415.512.4215
	3
	 	City, State, Zip: Santa Clara, CA 95054	 	Fax: 415.856.0810
	 
	 	Phone: 510.284.1129	 	E-mail: mwhite@svbank.com
	 
	 	Fax: 510.284.1127	 	 
	 
	 	Type of Account: Checking, CDs	 	 
	 
	 	Account number: [***], [***],	 	 
	 
	 	[***]	 	 
	 
	 	 	 	 
	Account
	 	Company Name: Comerica Bank	 	Contact Name: Heather Lynam
	Number
	 	Address: 226 Airport Parkway	 	Phone: 650.213.1726
	4
	 	City, State, Zip: San Jose, CA 95110	 	Fax: 650.213.1710
	 
	 	Phone: 650.213.1716	 	E-mail: hlynam@comerica.com
	 
	 	Fax: 650.213.1710	 	 
	 
	 	Type of Account: Checking, Sweep, LC	 	 
	 
	 	Account number: [***], [***],	 	 
	 
	 	[***]	 	 

Subsidiaries

Fluidigm Singapore Pte. Ltd.

Fluidigm KK

Fluidigm Europe BV

Fluidigm France SARL

1

 

Prior Names

Mycometrix

Litigation and Administrative Proceedings

None

Business Premises

	 	 	 	 	 
	 	 	Each Location Address where Lighthouse	 	Landlord/Property Management
	 	 	Capital Partners has financed assets:	 	Information:
	Current
	 	Contact Name:     Jim Neesen	 	Contact Name: Bob Farrell, Controller Facility
	Headquarters
	 	Address: 7000 Shoreline Court, Suite	 	Operations
	(Location 1)
	 	100	 	Company Name: Oscient Pharmaceuticals
	 
	 	City, State, Zip:   South San Francisco, CA	 	Address: 1000 Winter Street City, State,
	 
	 	94080	 	Zip:          Waltham, MA 02451
	 
	 	Phone: (650) 226-6000	 	Phone: (781) 398-2604
	 
	 	Fax: (650) 871-7152	 	Fax: (781) 398-2350
	 
	 	 	 	 
	 
	 	 	 	Contact Name:   Stephen Richardson
	 
	 	 	 	Company Name: Alexandria Real Estate
	 
	 	 	 	Equities, Inc.
	 
	 	 	 	Address: 2929 Campus Drive, Suite 400-A
	 
	 	 	 	City, State, Zip: San Mateo, CA 94403
	 
	 	 	 	Phone: (650) 286-1200
	 
	 	 	 	Fax: (650) 286-1256
	 
	 	 	 	 
	Location
	 	Contact Name: Mr. Takeshi Iwabuchi	 	Contact Name: Mr. Jyun Kusakabe
	2
	 	Company Name:   Fluidigm KK (Sales office)	 	Company Name: Sankou estate K.K
	 
	 	Address:      Level 5 Ginza TK Bldg, 1-1-7	 	Address: Shibuyanomurasyouken building
	 
	 	Shintomi	 	1-14-16 Shibuya, Shibuya-Ku,
	 
	 	City, State, Zip: Chuo-Ku, Tokyo, 104-0041	 	Tokyo, 150-0002
	 
	 	Japan	 	JAPAN
	 
	 	Phone: +813-3555-2351	 	Phone: +813-3409-1411
	 
	 	Fax: +813-3555-2353	 	Fax: +813-3409-1413
	 
	 	 	 	 
	Location
	 	Contact Name:	 	Contact Name: Ms. Akemi Minamino
	3
	 	Company Name:    Fluidigm KK (Sales Office)	 	Company Name: K.K. HIT
	 
	 	Address: Level 3-123 Soukendoshomachi bldg	 	Address: Level 25 Osakaekimae daisan bldg
	 
	 	2-1-10 Doshomachi, Chuo-Ku,	 	1-1-3 Umeda, Kita-Ku, Osaka-Shi
	 
	 	Osaka-Shi, Osaka 541-0045	 	Osaka 530-0001
	 
	 	JAPAN	 	JAPAN
	 
	 	City, State, Zip:    Osaka	 	Phone: +816-6345-1210
	 
	 	Phone: +816-6220-0500	 	Fax: +816-6347-0660
	 
	 	Fax: +816-6220-0660	 	 
	 
	 	 	 	 
	Location
	 	Contact Name:   Grace Yow	 	Contact Name:   Phoa Cheng Han
	4
	 	Company Name:   Fluidigm Singapore	 	Company Name: JTC Corporation
	 
	 	Address: 39 Robinson Road	 	Address: 8 Jurong Town Hall Road
	 
	 	#07-01 Robinson Point	 	City, State, Zip: Singapore 609434
	 
	 	City, State, Zip:   Singapore 068911	 	 
	 
	 	Phone: 65 9748 2922	 	 
	 
	 	Fax: 65 62825531	 	 

Please see attached Disclosure Schedule which by this reference shall be deemed to be a part
hereof.

2exv4w5

Exhibit 4.5

Fluidigm Corporation

CONVERTIBLE NOTE PURCHASE AGREEMENT

(US$15 Million Credit Facility)

August 7, 2006

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 	 	 	 	 	 	 	 
	1.	 	The First Note	 	 	2	 
	 
	 	 	 	 	 	 	 	 
	 
	 	1.1	 	Authorization; Purchaser’s Obligation to Purchase	 	 	2	 
	 
	 	1.2	 	First Note Procedure	 	 	2	 
	 
	 	1.3	 	Closing of First Note Purchase	 	 	2	 
	 
	 	1.4	 	Effect of Change in Series E Preferred Stock	 	 	2	 
	 
	 	 	 	 	 	 	 	 
	2.	 	Representations and Warranties of the Company	 	 	2	 
	 
	 	 	 	 	 	 	 	 
	 
	 	2.1	 	Organization, Good Standing and Qualification	 	 	2	 
	 
	 	2.2	 	Corporate Power	 	 	3	 
	 
	 	2.3	 	Subsidiaries	 	 	3	 
	 
	 	2.4	 	Capitalization	 	 	3	 
	 
	 	2.5	 	Authorization	 	 	4	 
	 
	 	2.6	 	Valid Issuance of Note and Conversion Shares	 	 	4	 
	 
	 	2.7	 	Governmental Consents	 	 	4	 
	 
	 	2.8	 	Litigation	 	 	5	 
	 
	 	2.9	 	Employees	 	 	5	 
	 
	 	2.10	 	Patents and Other Intangible Assets	 	 	5	 
	 
	 	2.11	 	Compliance with Other Instruments	 	 	7	 
	 
	 	2.12	 	Permits	 	 	8	 
	 
	 	2.13	 	Environmental and Safety Laws	 	 	8	 
	 
	 	2.14	 	Title to Property and Assets	 	 	8	 
	 
	 	2.15	 	Agreements; Action	 	 	8	 
	 
	 	2.16	 	Financial Statements	 	 	9	 
	 
	 	2.17	 	Changes	 	 	9	 
	 
	 	2.18	 	Brokers or Finders	 	 	10	 
	 
	 	2.19	 	Employee Benefit Plans	 	 	10	 
	 
	 	2.20	 	Tax Matters	 	 	10	 
	 
	 	2.21	 	Insurance	 	 	10	 
	 
	 	2.22	 	Corporate Documents	 	 	11	 
	 
	 	2.23	 	Disclosure	 	 	11	 
	 
	 	2.24	 	Offering	 	 	11	 
	 
	 	2.25	 	Returns and Complaints	 	 	11	 
	 
	 	 	 	 	 	 	 	 
	3.	 	Representations and Warranties of the Purchasers	 	 	11	 
	 
	 	 	 	 	 	 	 	 
	 
	 	3.1	 	Experience	 	 	11	 
	 
	 	3.2	 	Investment	 	 	11	 
	 
	 	3.3	 	Rule 144	 	 	12	 
	 
	 	3.4	 	No Public Market	 	 	12	 
	 
	 	3.5	 	Access to Data	 	 	12	 
	 
	 	3.6	 	Authorization	 	 	12	 
	 
	 	3.7	 	Accredited Investor	 	 	12	 

-i-

 

TABLE OF CONTENTS
(Continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 	 	 	 	 	 	 	 
	 
	 	3.8	 	Public Solicitation	 	 	12	 
	 
	 	3.9	 	Tax Advisors	 	 	12	 
	 
	 	3.10	 	Purchaser Counsel	 	 	13	 
	 
	 	3.11	 	Brokers or Finders	 	 	13	 
	 
	 	3.12	 	Non-United States Persons	 	 	13	 
	 
	 	 	 	 	 	 	 	 
	4.	 	Covenants of the Company	 	 	13	 
	 
	 	 	 	 	 	 	 	 
	 
	 	4.1	 	Subsidiary Business Plan	 	 	13	 
	 
	 	4.2	 	Subsidiary Board of Directors	 	 	14	 
	 
	 	4.3	 	Affirmative Covenants	 	 	14	 
	 
	 	4.4	 	Preservation of Existence	 	 	14	 
	 
	 	4.5	 	Payment of Taxes	 	 	14	 
	 
	 	4.6	 	Compliance with Laws	 	 	14	 
	 
	 	4.7	 	Maintenance of Properties	 	 	14	 
	 
	 	4.8	 	Government Authority	 	 	14	 
	 
	 	4.9	 	Opinion of Company Counsel	 	 	15	 
	 
	 	 	 	 	 	 	 	 
	5.	 	Covenants of the Purchaser	 	 	15	 
	 
	 	 	 	 	 	 	 	 
	 
	 	5.1	 	Transfers	 	 	15	 
	 
	 	5.2	 	Additional Convertible Promissory Notes	 	 	15	 
	 
	 	 	 	 	 	 	 	 
	6.	 	Termination	 	 	17	 
	 
	 	 	 	 	 	 	 	 
	7.	 	Miscellaneous	 	 	17	 
	 
	 	 	 	 	 	 	 	 
	 
	 	7.1	 	Governing Law	 	 	17	 
	 
	 	7.2	 	California Corporate Securities Law	 	 	17	 
	 
	 	7.3	 	Survival	 	 	17	 
	 
	 	7.4	 	Successors and Assigns	 	 	18	 
	 
	 	7.5	 	Entire Agreement; Amendment	 	 	18	 
	 
	 	7.6	 	Notices, etc.	 	 	18	 
	 
	 	7.7	 	Counterparts; Facsimile	 	 	19	 
	 
	 	7.8	 	Severability	 	 	19	 
	 
	 	7.9	 	Expenses	 	 	19	 
	 
	 	7.10	 	Titles and Subtitles	 	 	19	 
	 
	 	7.11	 	Jury Trial	 	 	19	 
	 
	 	7.12	 	Jurisdiction; Venue	 	 	19	 
	 
	 	7.13	 	Currency	 	 	19	 

-ii-

 

	 	 	 
	EXHIBITS
	 
	 	 
	A

	 	Form of Convertible Promissory Note (First Note)
	B

	 	Form of Convertible Promissory Note (Second Note)
	C

	 	Form of Convertible Promissory Note (Third Note)
	D

	 	Compliance Certificate
	E

	 	Investment Representation Statement
	F

	 	Legal Opinion

-iii-

 

Fluidigm Corporation

CONVERTIBLE NOTE PURCHASE AGREEMENT

(US$15 Million Credit Facility)

     This Convertible Note Purchase Agreement (the “Agreement”) is made as of August 7, 2006, by
and between Fluidigm Corporation, a California corporation (the “Company”), and Biomedical Sciences
Investment Fund Pte Ltd (“Purchaser”).

     WHEREAS, the Purchaser has agreed to purchase, pursuant to the terms of this Agreement and
upon the election of the Company, up to US$15,000,000 in aggregate principal of Convertible
Promissory Notes of the Company;

     WHEREAS, the Purchaser has agreed that the Company may elect to sell to the Purchaser within
the time periods set forth herein, and the Purchaser has agreed to purchase should the Company so
elect, a Convertible Promissory Note in the principal amount of US$5,000,000 in substantially the
form attached hereto as Exhibit A (the “First Note”), the principal and interest on which
are convertible into shares of Series E Preferred Stock of the Company upon the happening of
certain events described in the First Note;

     WHEREAS, provided that the First Note has converted (as set forth in the First Note), the
Purchaser has agreed that the Company may elect to sell to the Purchaser within the time periods
set forth herein, and Purchaser has agreed to purchase should the Company so elect, a second
Convertible Promissory Note of the Company in the principal amount of US$5,000,000, in
substantially the form attached hereto as Exhibit B (the “Second Note”), the principal and
interest on which are convertible into shares of Series E Preferred Stock of the Company upon the
happening of certain events as described in the Second Note; and

     WHEREAS, provided that the Second Note has converted (as set forth in the Second Note), the
Purchaser has agreed that the Company may elect to sell to the Purchaser within the time periods
set forth herein, and Purchaser has agreed to purchase should the Company so elect, a third
Convertible Promissory Note of the Company in the principal amount of US$5,000,000, in
substantially the form attached hereto as Exhibit C (the “Third Note,” and together with
the First Note and the Second Note, an “Additional Note” or the “Additional Notes”), the principal
and interest on which are convertible into shares of Series E Preferred Stock of the Company upon
the happening of certain events as described in the Third Note.

     NOW, THEREFORE, the parties hereby agree as follows:

 

 

     1. The First Note. 

          1.1 Authorization; Purchaser’s Obligation to Purchase.  The Purchaser shall, at the
Company’s election and in accordance with the procedures set forth in this Section 1, purchase the
First Note. Such election shall indicate that the Company has authorized the sale and issuance of
the First Note in the principal amount of US$5,000,000, convertible (i) at the election of the
Purchaser, (ii) upon the achievement of certain Milestones (as set forth in the First Note), or
(iii) as otherwise as set forth in the First Note into shares of Series E Preferred Stock of the
Company at a conversion price of US$3.60 per share. Shares of Series E Preferred Stock together
with any other securities which may be issued upon conversion of any of the Additional Notes are
referred to herein as the “Note Shares.” The Additional Notes, the Note Shares and securities of
the Company issued or issuable upon conversion thereof are referred to herein as the “Securities.”

          1.2 First Note Procedure.  Subject to Section 1.1, the Company may exercise its option to
require the Purchaser to purchase the First Note at any time on or before September 30, 2006 by
giving Purchaser written notice thereof (the “First Note Election Notice”). The First Note
Election Notice shall state that the Company has elected to require the Purchaser to purchase the
First Note and shall indicate the date, time, and location of the closing of the purchase and sale
of the First Note (the “First Note Closing”), which shall occur no sooner than 14 days or later
than 25 days after the date of the First Note Election Notice.

          1.3 Closing of First Note Purchase.  At the First Note Closing, the Company shall deliver
to the Purchaser the First Note and a duly executed Compliance Certificate in the form attached
hereto as Exhibit D (the “Compliance Certificate”). At the First Note Closing, the
Purchaser shall deliver to the Company (i) the aggregate principal amount of the First Note
totalling US$5,000,000 by check or wire transfer and (ii) the Investment Representation Statement,
duly executed by Purchaser, in the form attached hereto as Exhibit E (the “Investment
Representation Statement”).

          1.4 Effect of Change in Series E Preferred Stock.  The form of the First Note will be
modified upon the happening of certain events as set forth in Section 5.2(d).

     2. Representations and Warranties of the Company.  Except as set forth in the Schedule of
Exceptions dated of even date hereof and separately delivered to Purchaser contemporaneously with
the execution and delivery of this Agreement (the
“Schedule of Exceptions”), the Company represents and warrants to Purchaser as of the date
hereof as follows:

          2.1 Organization, Good Standing and Qualification.  The Company is a corporation duly
organized, validly existing and in good standing under the laws of the State of California and has
all requisite corporate power and authority to carry on its business as currently conducted. The
Company is duly qualified to transact business and is in good standing in each jurisdiction in
which the failure to so qualify, individually or in the aggregate, would have a material adverse
effect on its business (as now conducted), properties, or financial condition.

-2-

 

          2.2 Corporate Power.  The Company has all requisite legal and corporate power and
authority to execute and deliver this Agreement and to carry out and perform its obligations under
the terms of this Agreement. Subject to the corporate authorization of and election to sell and
issue any of the Additional Notes hereunder, the Company will have all requisite legal and
corporate power and authority to (i) sell and issue the Additional Notes hereunder and (ii) issue
the Series E Preferred Stock initially issuable upon conversion of any of the Additional Notes.

          2.3 Subsidiaries.  The Company does not presently own or control, directly or indirectly,
any interest in any other corporation, association, or other business entity.

          2.4 Capitalization.  The authorized capital stock of the Company consists of 77,857,144
shares of Common Stock (“Common Stock”), of which 9,422,895 shares are issued and outstanding and
51,687,948 shares of Preferred Stock (“Preferred Stock”), 2,727,273 of which are designated
Series A Preferred Stock of which 2,727,273 are outstanding, 6,460,675 of which are designated
Series B Preferred Stock of which 6,460,675 are outstanding, 17,000,000 of which are designated
Series C Preferred Stock, 16,364,832 of which are issued and outstanding, 15,500,000 of which are
designated Series D Preferred Stock, 12,196,191 of which are issued and outstanding, and 10,000,000
of which are designated Series E Preferred Stock, 1,250,000 of which are issued and outstanding.
All such issued and outstanding shares have been duly authorized and validly issued in compliance
with applicable laws, and are fully paid and nonassessable.

     In connection with the sale and issuance of any Additional Notes, the Company will have
reserved 4,166,667 shares of Series E Preferred Stock for issuance upon conversion of such
Additional Note (the “Conversion Shares”) and 4,166,667 shares of Common Stock for issuance upon
conversion of such Conversion Shares. As of the date of this Agreement, the Company has reserved:
(i) 10,000,000 shares of Common Stock for issuance upon conversion of the outstanding shares of
Series E Preferred Stock; (ii) 12,196,191 shares of Common Stock for issuance upon
conversion of the outstanding shares of Series D Preferred Stock; (iii) 408,928 shares of
Series D Preferred Stock for issuance upon exercise of outstanding warrants and 408,928 shares of
Common Stock for issuance upon conversion of such Series D Preferred Stock; (iv) 16,364,832 shares
of Common Stock for issuance upon conversion of the outstanding shares of Series C Preferred Stock;
(v) 294,868 shares of Series C Preferred Stock for issuance upon exercise of outstanding warrants
and 294,868 shares of Common Stock for issuance upon conversion of such Series C Preferred Stock;
(vi) 6,460,675 shares of Common Stock for issuance upon conversion of the outstanding Series B
Preferred Stock; (vii) 2,727,273 shares of Common Stock for issuance upon conversion of the
outstanding Series A Preferred Stock; and (viii) an aggregate of 10,800,000 shares of Common Stock
for issuance to employees and consultants of the Company pursuant to the Company’s 1999 Stock Plan,
pursuant to which options to purchase 5,276,828 shares are granted and outstanding and 1,727,039
shares are available for future grant. Other than with respect to the shares reserved for issuance
in the preceding sentence, or as set forth in this Agreement, the Investor Rights Agreement (as
defined below) or the Voting Agreement (as defined below), there are no outstanding rights,
options, warrants, conversion rights, preemptive rights, rights of first refusal or similar rights
for the purchase or acquisition from the Company of any securities of the Company. There are no
outstanding obligations of the Company to repurchase or redeem any of its securities.

-3-

 

     Except as contemplated in the Eighth Amended and Restated Investor Rights Agreement dated
June 13, 2006 (the “Investor Rights Agreement”), the Company has not granted or agreed to grant any
registration rights, including piggyback rights, to any person or entity. Except as contemplated
in the Second Amended and Restated Voting Agreement dated August 16, 2005 (the “Voting Agreement”),
the Company is not a party or subject to any agreement or understanding, and to the Company’s
knowledge, there is no agreement or understanding between any person or entities, which relates to
the voting or the giving of written consents with respect to any security of the Company or by a
director of the Company.

          2.5 Authorization.  All corporate action on the part of the Company, its officers,
directors and shareholders necessary for the authorization, execution and delivery of this
Agreement, the performance of all obligations of the Company under this Agreement has been taken,
subject to corporate authorization of any election to require the Purchasers to purchase Additional
Notes pursuant to this Agreement. This Agreement constitutes a valid and legally binding
obligation of the Company, enforceable in accordance with its terms, subject to: (i) judicial
principles limiting the availability of specific performance, injunctive relief, and other
equitable remedies; and (ii) bankruptcy, insolvency, reorganization, moratorium or other similar
laws now or hereafter in effect generally relating to or affecting creditors’ rights.

          2.6 Valid Issuance of Note and Conversion Shares.  Any Additional Note that is purchased
by the Purchaser hereunder, when issued, sold and delivered in accordance with the terms of this
Agreement, will be free of restrictions on transfer other than restrictions on transfer under this
Agreement, such Additional Note, and the Investor
Rights Agreement and under applicable state and federal securities laws as in effect on the
date of issuance of such Additional Note. Any Conversion Shares (and the shares of Common Stock
issuable upon conversion thereof) will have been duly and validly reserved for issuance, and, upon
issuance in accordance with the terms of the applicable Additional Note and the Amended and
Restated Articles of Incorporation of the Company as amended through the date of issuance of such
Additional Note (the “Restated Articles”), will be duly and validly issued, fully paid, and
nonassessable and will be free of restrictions on transfer other than restrictions on transfer
under this Agreement, the terms of the applicable Additional Note, and the Investor Rights
Agreement and under applicable state and federal securities laws as in effect on the date of
issuance of such Additional Note. The Conversion Shares (and the shares of Common Stock issuable
upon conversion thereof) may be issued without any registration or qualification under state and
federal securities laws as such laws are in effect as of the date of this Agreement.

          2.7 Governmental Consents.  As of the date of this Agreement, no consent, approval, order
or authorization of, or registration, qualification, designation, declaration or filing with, any
federal, state or local governmental authority on the part of the Company would be required in
connection with the offer, sale or issuance of any of the Additional Notes or the Conversion Shares
(and the shares of Common Stock issuable upon conversion thereof) or the consummation of any other
transaction contemplated hereby, except in connection with the sale and issuance of Additional
Notes for filings that may be required pursuant to applicable federal and state securities laws and
blue sky laws, which filings, the Company covenants to complete within the required statutory
period.

-4-

 

          2.8 Litigation.  There is no action, suit, proceeding or investigation pending or, to the
Company’s knowledge, currently threatened against the Company before any court, administrative
agency or other governmental body which questions the validity of this Agreement or the Investor
Rights Agreement or the right of the Company to enter into any of them, or to consummate the
transactions contemplated hereby or thereby, or which could result, either individually or in the
aggregate, in any material adverse change in the condition (financial or otherwise), business,
property, assets or liabilities of the Company, nor is the Company aware that there is any basis
for the foregoing. The Company is not a party or subject to, and none of its assets is bound by,
the provisions of any order, writ, injunction, judgment or decree of any court or government agency
or instrumentality. There is no action, suit, proceeding or investigation by or involving the
Company currently pending or that the Company intends to initiate.

          2.9 Employees.  Each employee of the Company has executed a proprietary information and
invention assignment agreement substantially in the form or forms made available to the Purchaser.
To the Company’s knowledge, no officer or key employee is in violation of any prior employee
contract or proprietary information agreement. No employees of the Company are represented by any
labor union or covered by any collective bargaining agreement. There is no pending or, to the
Company’s
knowledge, threatened labor dispute involving the Company and any group of its employees. The
Company is not aware that any officer or key employee intends to terminate his or her employment
with the Company within the six months after the date of this Agreement. The Company does not have
a present intention to terminate the employment of any officer or key employee. Each officer and
key employee is devoting 100% of his or her business time to the conduct of the business of the
Company. The Company is not aware that any officer or key employee intends to work less than full
time during the six months after the date of this Agreement. Subject to general principles related
to wrongful termination of employees, the employment of each officer and employee of the Company is
terminable at will.

          2.10 Patents and Other Intangible Assets. 

               (a) The Company owns, or is licensed or otherwise has the legally enforceable right to use,
all copyrights, domain names, maskworks, applications for the issuance or registration of any of
the foregoing, trade secrets, confidential or proprietary know-how, data and information, ideas,
inventions, designs, developments, algorithms, processes, schematics, techniques, computer
programs, applications and other software, works of authorship, creative effort and, to the
Company’s knowledge after such investigation as the Company deemed reasonable, patents, patent
applications, trademarks (including service marks and design marks) and applications therefor,
tradenames (all of the foregoing generically, “Intellectual Property Rights”) utilized in, or
necessary for, its business as now conducted (collectively, the “Company Intellectual Property”)
without infringing upon the right of any person, corporation or other entity.

               (b) Section 2.10 of the Schedule of Exceptions lists (i) all patents and patent applications
and all registered and unregistered trademarks, trade names, copyrights and maskworks and
registered domain names included in the Company Intellectual Property, including the jurisdictions
in which each such intellectual property right has been issued or registered or in

-5-

 

which any
application for such issuance or registration has been filed, (ii) all licenses, sublicenses,
collaborations and other agreements (or options for any of the foregoing) to which the Company is a
party and pursuant to which any person, corporation or other entity is authorized to use any of the
Company Intellectual Property, and (iii) all licenses, sublicenses, collaborations and other
agreements (or options for any of the foregoing) to which the Company is a party and pursuant to
which the Company is authorized to use any Intellectual Property Right of any third party (other
than standard licenses for commercially available software). Each of the agreements in (ii) and
(iii) above remain in full force and effect and, to the Company’s knowledge, no party to any such
agreement is in material breach or default under such agreement, and the Company is not aware of
any act or failure to act by a party which would constitute a material breach or default under any
such agreement, give rise to a right of the licensor to terminate any such agreement or otherwise
result in termination of, or suspension or loss of exclusive rights under, any such agreement.

               (c) To the Company’s knowledge, the Company has not infringed or misappropriated any
Intellectual Property Right of any other person, corporation or other entity. The Company has not
received any communication or otherwise received any information alleging any
such conduct by the Company or asserting a claim by any third party to the ownership of, or
right to use, any of the Company Intellectual Property, and the Company does not know of any basis
for any such claim. The Company is not aware of any action, suit, proceeding or investigation
pending or currently threatened against the Company (or any third party owner or licensor of rights
to the Company of any of the Company Intellectual Property) which would have a material impact on
the Company’s ownership of or exclusive or co-exclusive rights to use, the Company Intellectual
Property.

               (d) The Company is not aware that any of its employees is obligated under any agreement, or
subject to any judgment, decree or order of any court or administrative agency, that would
materially interfere with his or her ability to fully and freely perform their duties to the
Company or that would conflict with the Company’s business. To the Company’s knowledge, neither
the execution and delivery of this Agreement nor the issuance of any of the Additional Notes nor
the carrying on of the Company’s business by the employees of the Company, will conflict with or
result in a material breach of the terms, conditions, or provisions of, or constitute a default
under, any agreement under which any such employee is now obligated. The Company does not utilize,
and will not be required to utilize, any invention, development or work of authorship of any of its
employees (or persons it currently intends to hire) made prior to their employment by the Company.

               (e) Except as described in Schedule 2.10, (i) the Company is not obligated, or under any
liability whatsoever to make any payments by way of royalties, fees or otherwise, to any owner or
licensor of, or other claimant to, any Company Intellectual Property, and (ii) the Company is not a
party to any agreement concerning the Company Intellectual Property or any other Intellectual
Property Right used or to be used by the Company in its business as conducted. No founder,
director, officer or employee of the Company, or, to the Company’s knowledge, no shareholder of the
Company has any interest in the Company Intellectual Property.

-6-

 

               (f) Except with respect to any rights granted under the agreements described in Schedule 2.10,
the Company owns exclusively all rights arising from or associated with the research and
development efforts of the Company, its founders, employees and independent contractors relating to
the Company’s business as now conducted, and all such rights form part of the Company Intellectual
Property. The Company has secured valid written assignments from all employees and independent
contractors who contributed to the creation or development of any of the Company Intellectual
Property of the rights to such contributions that the Company does not already own by operation of
law. The Company has not received notice of any claim being asserted by any current or former
employee, independent contractor or other third party to the ownership, of or right to use, any of
the Company Intellectual Property, or challenging or questioning the validity of any of the Company
Intellectual Property, and the Company is not aware of any basis for any such claim.

               (g) The Company has taken reasonable steps to protect and preserve the confidentiality of all
material trade secrets included in Company Intellectual Property not otherwise protected by patents
or copyright (“Confidential Information”). All disclosure of Confidential Information to a third
party has been pursuant to the terms of a written confidentiality or non-disclosure agreement
between the Company and such third party.

               (h) The Company hereby represents and warrants that the data, written and oral reports and
other representations and information that the Company provided to its investors (or their counsel)
pertaining to the Company Intellectual Property, when taken as a whole, were truthful and, to the
Company’s knowledge, accurate in all material respects, and there was no omission therefrom which
made such information misleading, or incomplete in any material way.

          2.11 Compliance with Other Instruments.  The Company is not in violation or default of any
provision of its Articles of Incorporation or Bylaws, each as amended and in effect on and as of
the date hereof. The Company is not in violation or default of any material provision of any
instrument, mortgage, deed of trust, loan, contract, commitment, judgment, decree, order or
obligation to which it is a party or by which it or any of its properties or assets are bound or,
to the best of its knowledge, of any provision of any federal, state or local statute, rule or
governmental regulation. The execution, delivery and performance of and compliance with this
Agreement, the Investor Rights Agreement and the Voting Agreement and the issuance and sale of the
Additional Notes, will not result in any such violation, be in conflict with or constitute, with or
without the passage of time or giving of notice, a default under any such provision, license,
indenture, instrument, mortgage, deed of trust, loan, contract, commitment, judgment, decree, order
or obligation; or require any consent or waiver under any such provision, license, indenture,
instrument, mortgage, deed of trust, loan, contract, commitment, judgment, decree, order or
obligation (other than any consents or waivers that have been obtained); or result in the creation
of any mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of the
Company pursuant to any such provision, license, indenture, instrument, mortgage, deed of trust,
loan, contract, commitment, judgment, decree, order or obligation.

-7-

 

          2.12 Permits.  The Company has all franchises, permits, licenses, and any similar authority
necessary for the conduct of its business as now being conducted by it. The Company is not in
default in any material respect under any of such franchises, permits, licenses, or other similar
authority.

          2.13 Environmental and Safety Laws.  To its knowledge, the Company is not in violation of
any applicable statute, law, or regulation relating to the environment or occupational health and
safety, and to its knowledge, no material expenditures by the Company are or will be required in
order to comply with any such existing statute, law, or regulation.

          2.14 Title to Property and Assets.  The Company has good and marketable title to all of its
properties and assets free and clear of all pledges, mortgages, liens, security interests, charges
and encumbrances, except liens for current taxes and assessments not yet due and possible minor
liens and encumbrances which do not,
in any case, individually or in the aggregate, materially detract from the value of the
property subject thereto or materially impair the ownership or use of said property or assets, or
the operations of the Company. With respect to the property and assets it leases, the Company is
in compliance with such leases and, to the best of its knowledge, holds a valid leasehold interest
free of all liens, claims or encumbrances. The Company’s properties and assets are in good
condition and repair in all material respects.

          2.15 Agreements; Action. 

               (a) Except for agreements contemplated by this Agreement, there are no agreements,
understandings or proposed transactions between the Company and any of its officers, directors,
affiliates, or any affiliate thereof other than standard option grants and stock purchase
agreements entered into prior to the date of this Agreement.

               (b) There are no agreements, understandings, instruments, contracts, proposed transactions,
judgments, orders, writs or decrees to which the Company is a party or by which it is bound that
may involve (i) obligations (contingent or otherwise) of, or payments by the Company in excess of,
US$100,000, other than in the ordinary course of business, (ii) the license of any patent,
copyright, trade secret or other proprietary right to or from the Company other than standard
commercial software licenses, (iii) provisions restricting or adversely affecting the development,
manufacture or distribution of the Company’s products or services, or (iv) indemnification by the
Company with respect to infringements of proprietary rights other than indemnifications entered
into in the ordinary course of business.

               (c) For the purposes of subsection (b) above, all indebtedness, liabilities, agreements,
understandings, instruments, contracts and proposed transactions involving the same person or
entity (including persons or entities the Company has reason to believe are affiliated therewith)
shall be aggregated for the purpose of meeting the individual minimum dollar amounts of such
subsection.

-8-

 

               (d) The Company is not a party to and is not bound by any contract, agreement or instrument,
or subject to any restriction under its Restated Articles or its Bylaws that adversely affects its
business as now conducted, its properties or its financial condition.

               (e) The Company is not a guarantor or indemnitor of any indebtedness of any other person or
entity.

               (f) The Company has not engaged in the past three months in any discussion (i) with any
representative of any entity or entities regarding the merger of the Company with or into any such
entity or entities or any affiliate thereof, (ii) with any representative of any entity or any
individual regarding the sale, conveyance or disposition of all or substantially all of the assets
of the Company or a transaction or series of related transactions in which more than fifty
percent (50%) of the voting power of the Company would be disposed of, or (iii) regarding any
other form of liquidation, dissolution or winding up of the Company.

          2.16 Financial Statements.  The Company has fully provided the Purchaser with all the
information that the Purchaser has requested for deciding whether to enter into this Agreement and
to acquire the Additional Notes. The Company has made available to Purchaser its audited balance
sheets dated as of December 31, 2005 and the audited statement of operations for the fiscal year
then ended, its unaudited balance sheets as of March 31, 2006, and its unaudited statement of
operations and cash flow statement covering the three month period then ended (collectively, the
“Financial Statements”). The Financial Statements are complete and correct in all material
respects and have been prepared in accordance with generally accepted accounting principles applied
on a consistent basis throughout the periods indicated. The Financial Statements accurately set
out and describe the financial condition and operating results of the Company as of the date, and
during the periods, indicated therein. Except as set forth in the Financial Statements, the
Company has no material liabilities, contingent or otherwise, other than (i) liabilities incurred
in the ordinary course of business subsequent to March 31, 2006 and (ii) obligations under
contracts and commitments incurred in the ordinary course of business and not required under
generally accepted accounting principles to be reflected in the Financial Statements, which, in
both cases, individually or in the aggregate are not material to the financial condition or
operating results of the Company.

          2.17 Changes.  Since March 31, 2006:

               (a) the Company has not (i) declared or paid any dividends or authorized or made any
distribution upon or with respect to any class or series of its capital stock, (ii) incurred any
indebtedness for money borrowed or any other liabilities outside the ordinary course of its
business individually in excess of US$100,000 or, in the case of indebtedness and/or liabilities
individually less than US$100,000, in excess of US$200,000 in the aggregate, (iii) made any loans
or advances to any person, other than ordinary advances for reimbursable businesses expenses,
(iv) sold, exchanged, assigned, transferred, licensed or otherwise disposed of any of its assets or
rights (including Company Intellectual Property), other than the sale of its inventory in the
ordinary course of business, (v) waived or compromised a valuable right or a material debt owed to
it, (vi) materially changed any compensation arrangement or agreement with any employee, officer,

-9-

 

director or shareholder, or (vii) arranged or committed to do any of the things described in this
subsection (a); and

               (b) there has not been (i) a loss of, or a material order cancellation by, any major customer
of the Company, (ii) any damage, destruction or loss, whether or not covered by insurance,
materially and adversely affecting the business, properties, or financial condition of the Company,
(iii) any change in the assets, liabilities, financial condition or operating results of the
Company from that reflected in the Financial Statements, except changes in the ordinary course of
business that have not been, in the aggregate, materially adverse, (iv) any resignation or
termination
of any officer or key employee of the Company, and the Company is not aware of the impending
resignation or termination of employment of any such officer, or (v) to the best of the Company’s
knowledge, any other event or condition of any character that would materially and adversely affect
the business, properties, or financial condition of the Company.

          2.18 Brokers or Finders.  The Company has not agreed to incur, directly or indirectly, any
liability for brokerage or finders’ fees, agents’ commissions or other similar charges in
connection with this Agreement or any of the transactions contemplated hereby.

          2.19 Employee Benefit Plans.  The Company does not have any Employee Benefit Plan as
defined in the Employee Retirement Income Security Act of 1974 other than the Company’s 401(k)
Plan. The Company is in material compliance with the terms of the Company’s 401(k) Plan and has
not received notice of any material increase in the costs of such plans.

          2.20 Tax Matters.  The Company has filed all tax returns and reports as required by law.
These returns and reports are true and correct in all material respects. The Company has paid all
taxes and other assessments due. The Company has not elected pursuant to the Code, to be treated
as a Subchapter S corporation or a collapsible corporation pursuant to Section 1362(a) or
Section 341(f) of the Code, nor has it made any other elections pursuant to the Code (other than
elections that relate solely to methods of accounting, depreciation or amortization) that would
have a material effect on the business, properties or condition (financial or otherwise) of the
Company. None of the Company’s tax returns have ever been audited by any governmental authorities.
The Company has withheld or collected from each payment made to its employees the amount of all
taxes (including without limitation, federal income taxes, Federal Insurance Contribution Act taxes
and Federal Unemployment Tax Act taxes) required to be withheld or collected therefrom, and has
paid the same to the proper tax receiving officers or authorized depositories.

          2.21 Insurance.  The Company has in full force and effect fire and casualty insurance
policies, with extended coverage, sufficient in amount (subject to reasonable deductibles) to allow
it to replace any of its properties that might be damaged or destroyed. The Company has obtained
term life insurance payable to the Company on the lives of Stephen Quake and Gajus Worthington in
the amount of US$500,000. The Company has in full force and effect directors and officers
liability insurance, covering its directors, with aggregate coverage in the amount of US$2,000,000.

-10-

 

          2.22 Corporate Documents.  The Restated Articles and By-Laws of the Company are in the form made available to the
Purchaser. The copy of the minute books of the Company made available to Purchaser’s counsel
contains true and correct minutes of all meetings of directors (including any committees thereof)
and shareholders and all actions by written consent taken without a meeting by the directors and
shareholders since December 18, 2003.

          2.23 Disclosure.  The Company has fully provided Purchaser with all the information which
Purchaser has requested in connection with the purchase of the Additional Notes hereunder, as well
as all information which the Company in its judgment believes is reasonably necessary to enable
Purchaser to make a decision as to whether to enter into this Agreement and to invest in the
Company. Neither this Agreement with the Exhibits hereto, nor any other statements, certificates
or documents made or delivered in connection herewith or therewith, contains any untrue statement
of a material fact or omits to state a material fact necessary to make the statements herein or
therein not misleading in light of the circumstances under which they were made. The financial
projections made available to the Purchaser (the “Projections”) were prepared in good faith and
based upon assumptions that the Company believes are reasonable, and represent the Company’s good
faith estimate of its future plans and results; provided however, that the Company does not
represent or warrant that it will achieve any of the Projections.

          2.24 Offering.  Subject in part to the truth and accuracy of Purchaser’s representations
set forth in this Agreement, the offer, sale and issuance of the Additional Notes as contemplated
by this Agreement would be, if issued as of this date of this Agreement, exempt from the
registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), and
neither the Company nor any authorized agent acting on its behalf will take any action hereafter
that would cause the loss of such exemption.

          2.25 Returns and Complaints.  The Company has not received customer complaints concerning
alleged defects in the design of its products that, if true, would have, individually or in the
aggregate, a material adverse effect on its business, properties, or financial condition.

     3. Representations and Warranties of the Purchasers.  Purchaser hereby represents,
warrants and agrees as follows:

          3.1 Experience.  Purchaser is experienced in evaluating start-up companies such as the
Company, is able to evaluate and represent its own interests in transactions such as the one
contemplated by this Agreement, has such knowledge and experience in financial and business matters
such that
Purchaser is capable of evaluating the merits and risks of Purchaser’s investment in the
Company, and has the ability to bear the economic risks of its investment.

          3.2 Investment.  Purchaser is acquiring and will acquire, the Securities, for investment
for Purchaser’s own account and not with the view to, or for resale in connection with, any
distribution thereof. Purchaser understands that the Securities have not been registered under the
Securities Act by reason of a specific exemption from the registration provisions of the Securities
Act, which depends upon, among other things, the bona fide nature of Purchaser’s investment intent
as expressed herein. Purchaser further represents that it does not have any contract, undertaking,

-11-

 

agreement or arrangement with any person to sell, transfer or grant participation to any third
person with respect to any of the Securities other than a transfer not involving a change of
beneficial ownership. Purchaser understands and acknowledges that the offering of the Securities
pursuant to this Agreement will not be registered under the Securities Act on the ground that the
sale provided for in this Agreement is exempt from the registration requirements of the Securities
Act.

          3.3 Rule 144.  Purchaser acknowledges that the Securities must be held indefinitely unless
subsequently registered under the Securities Act or an exemption from such registration is
available. Purchaser is aware of the provisions of Rule 144 promulgated under the Securities Act,
which permit limited resale of shares purchased in a private placement subject to the satisfaction
of certain conditions. Purchaser covenants that, in the absence of an effective registration
statement covering the securities in question, Purchaser will sell, transfer, or otherwise dispose
of the Securities only in accordance with applicable securities laws and in a manner consistent
with Purchaser’s representations and covenants set forth in this Agreement and the applicable
Additional Note. In connection therewith, Purchaser acknowledges that the Company will make a
notation on its stock books regarding the restrictions on transfer set forth in this Agreement and
the applicable Additional Note and will transfer securities on the books of the Company only to the
extent not inconsistent therewith.

          3.4 No Public Market.  Purchaser understands that no public market now exists for any of
the securities issued by the Company, and that the Company has made no assurances that a public
market will ever exist for the Securities.

          3.5 Access to Data.  Purchaser has received and reviewed information about the Company and
has had an opportunity to discuss the Company’s business, management and financial affairs with its
management and to review the Company’s facilities.

          3.6 Authorization.  This Agreement when executed and delivered by the Purchaser will constitute a valid and
legally binding obligation of the Purchaser, enforceable against the Purchaser in accordance with
its terms, subject to: (i) judicial principles respecting election of remedies or limiting the
availability of specific performance, injunctive relief, and other equitable remedies; and
(ii) bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in
effect generally relating to or affecting creditors’ rights.

          3.7 Accredited Investor.  Purchaser acknowledges that it is an “accredited investor” as
defined in Rule 501 of Regulation D as promulgated by the United States Securities and Exchange
Commission (the “Commission”) under the Securities Act and shall submit to the Company such further
assurances of such status as may be reasonably requested by the Company. The principal address of
such Purchaser is as set forth on the signature page hereto.

          3.8 Public Solicitation.  Purchaser knows of no public solicitation or advertisement of an
offer in connection with the proposed issuance and sale of the Securities.

          3.9 Tax Advisors.  Purchaser has reviewed with its own tax advisors the tax consequences
of the purchase of the Securities and the transactions contemplated by this Agreement.

-12-

 

Purchaser
is relying solely on such advisors and not on any statements or representations of the Company or
any of its agents and understands that Purchaser (and not the Company) shall be responsible for the
Purchaser’s own tax liability that may arise as a result of the Purchase of the Securities or the
transactions contemplated by this Agreement.

          3.10 Purchaser Counsel.  Purchaser acknowledges that it has had the opportunity to review
this Agreement and the exhibits hereto and the transactions contemplated by this Agreement with its
own legal counsel. Purchaser is relying solely on such counsel and not on any statements or
representations of the Company or any of its agents for legal advice with respect to this
investment or the transactions contemplated by this Agreement.

          3.11 Brokers or Finders.  The Company has not incurred and will not incur, directly or
indirectly, as a result of any action taken by such Purchaser, any liability for brokerage or
finders’ fees or agents’ commissions or any similar changes in connection with this Agreement.

          3.12 Non-United States Persons.  Purchaser hereby represents that Purchaser is satisfied as to the full observance of the
laws of Purchaser’s jurisdiction in connection with any invitation to subscribe for the Securities
and the Additional Notes (and securities issuable upon conversion thereof) or any use of this
Agreement, including (i) the legal requirements within Purchaser’s jurisdiction for the purchase of
the Securities and the Additional Notes (and securities issuable upon conversion thereof), (ii) any
foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents
that may need to be obtained and (iv) the income tax and other tax consequences, if any, that may
be relevant to the purchase, holding, redemption, sale or transfer of such securities. Purchaser’s
subscription and payment for, and Purchaser’s continued beneficial ownership of, the Securities and
the Additional Notes (and securities issuable on conversion thereof) will not violate any
applicable securities or other laws of Purchaser’s jurisdiction.

     4. Covenants of the Company.  The Company hereby covenants and agrees as follows:

          4.1 Subsidiary Business Plan.  The Company has incorporated a wholly owned (either
directly or indirectly through another subsidiary of the Company) subsidiary of the Company in
Singapore (the “Subsidiary”). Unless prohibited by applicable law, or unless the Company and the
Purchaser otherwise agree in writing, from and after incorporation of the Subsidiary, the Company
shall cause the Subsidiary to use commercially reasonable efforts to conduct, its activities
materially in accordance with the provisions of the business plan as established by the Board of
Directors of the Subsidiary and described to the Purchaser, including the Subsidiary’s plans with
respect to the BioMark II project, as may be modified as set forth in this Section 4.1 (the
“Subsidiary Business Plan”); provided, however, that the Company and the Subsidiary
shall have no such obligation in the event the Subsidiary does not receive a grant under the
Singapore Research Incentive Scheme for Companies (“RISC”) and tax incentives from the Economic
Development Board of Singapore (the “EDB”) consistent with the application submitted by the Company
to the EDB. Notwithstanding any provision in this Agreement to the contrary, the Company and
Purchaser agree that the Subsidiary Business Plan may only be modified by the Board of Directors of
the Subsidiary.

-13-

 

          4.2 Subsidiary Board of Directors.  Unless the Purchaser or its affiliates (as such term
is defined under Rule 12b-2 promulgated by the Commission under the Securities Exchange Act of
1934, as amended) shall fail to hold 500,000 shares of the Company’s Common Stock (on an as
converted basis), the Company agrees that it will vote the voting securities of the Subsidiary now
or hereafter held by the Company in such a manner as may be necessary to elect a nominee of
Purchaser to the Board of Directors of the Subsidiary (the “Nominee”). The Purchaser may notify
the Company in writing of an intention to remove from the Subsidiary’s Board of Directors any
incumbent Nominee or notify the Company in writing of an intention to select a new Nominee. In
such event the Company shall take reasonable actions necessary to facilitate such removal and
election of the new Nominee to the Board of Directors of the Subsidiary.

          4.3 Affirmative Covenants.  So long as any of the Additional Notes (if issued) shall
remain unpaid or unconverted or the Purchaser shall have any obligation to purchase any of the
Additional Notes hereunder, the Company agrees that:

          4.4 Preservation of Existence.  It will maintain and preserve, through itself or any
successor to its business, its corporate existence and its rights to transact business and will
maintain and preserve, through itself or any successor to its business, such other rights,
franchises and privileges as it may in good faith determine necessary or desirable in the normal
course of its business and operations and the ownership of its material properties.

          4.5 Payment of Taxes.  It will pay and discharge all taxes, fees, assessments and
governmental charges or levies imposed upon it or upon its properties or assets prior to the date
on which material penalties attach thereto, and all lawful claims for labor, materials and supplies
which, if unpaid, might become a material lien upon any properties or assets of the Company, except
to the extent such taxes, fees, assessments or governmental charges or levies, or such claims, are
being contested in good faith by appropriate proceedings and are adequately reserved against in
accordance with generally accepted accounting principles.

          4.6 Compliance with Laws.  It will comply in all material respects with the requirements
of all applicable laws, rules, regulations and orders of any governmental authority and the terms
of any material indenture, contract or other instrument to which it may be a party or under which
it or its properties may be bound, except to the extent failure to so comply would not have a
material adverse effect on the Company’s business.

          4.7 Maintenance of Properties.  It will use commercially reasonable efforts to maintain
and preserve all of its material properties, as it may in good faith determine to be necessary or
useful in the proper conduct of its business, in good working order and condition in accordance
with the general practice of other corporations of similar character and size, ordinary wear and
tear accepted.

          4.8 Government Authority.  It will use commercially reasonable efforts to obtain and
maintain all authorizations, consents, filings, exemptions, registrations and other governmental
approvals necessary in connection with the execution, delivery and performance of this Agreement,
the consummation of the transactions contemplated hereby or the operation and conduct of its

-14-

 

business and ownership of
its properties, except to the extent such failure to obtain or maintain would not have a
material adverse effect on the Company’s business or financial condition or its ability to deliver
or perform under this Agreement or consummate the transactions contemplated hereby.

          4.9 Opinion of Company Counsel.  Contemporaneously with the execution and delivery of this
Agreement, the Purchaser will receive from Wilson Sonsini Goodrich & Rosati, P.C., counsel for the
Company, an opinion, dated as of the date of this Agreement, in the form attached hereto as
Exhibit F (the “Legal Opinion”), relating to the sale and issuance of the First Note
pursuant to this Agreement.

     5. Covenants of the Purchaser.  The Purchaser hereby covenants and agrees as follows:

          5.1 Transfers.  Purchaser shall be bound by the restrictions on transfer of the Securities
as set forth in the applicable Additional Note. Any permitted purchaser, assignee, transferee or
pledgee of securities issued on conversion of the applicable Additional Note shall agree in writing
to take and hold such securities subject to and upon the conditions set forth in the this
Agreement, the applicable Additional Note, the Investor Rights Agreement, and the Voting Agreement,
as each may be amended from time to time.

          5.2 Additional Convertible Promissory Notes. 

               (a) Purchaser’s Obligation to Purchase. In the event that the First Note is converted
as set forth in the First Note, the Purchaser shall, at the Company’s election, purchase the Second
Note in the principal amount of US$5,000,000 (the “Additional Note Principal”) in accordance with
Section 5.2(b), and in the event the Second Note is converted as set forth in the Second Note, the
Purchaser shall, at the Company’s election, purchase the Third Note in the principal amount equal
to the Additional Note Principal in accordance with Section 5.2(b).

               (b) Additional Notes Procedure. Subject to Section 5.2(a), the Company may exercise
its option to require the Purchaser to purchase the (i) Second Note at any time within 45 days
following the conversion of the First Note and (ii) the Third Note at any time within 45 days
following the conversion of the Second Note by giving Purchaser written notice thereof (the
“Election Notice”). The Election Notice shall state that the Company has elected to require the
Purchaser to purchase the Second Note or the Third Note, as the case may require, and shall
indicate the date, time and location of the closing of the purchase and sale of the Second Note or
the Third Note, as the case may require (each, an “Additional Note Closing”), which shall occur no
sooner than 28 days or later than 50 days after the date of the Election Notice.

               (c) Closing of Subsequent Purchase. At an Additional Note Closing, the Company shall
deliver to the Purchaser the Second Note, or the Third Note, as the case may require, and a duly
executed Compliance Certificate in substantially the form attached hereto as Exhibit D. At
an Additional Note Closing, the Purchaser shall deliver to the Company (i) the Additional Note
Principal by check or wire transfer and (ii) the Investment Representation Statement, duly executed
by Purchaser.

-15-

 

               (d) Effect of Change in Series E Preferred Stock on Additional Notes. The forms of
any then-unissued Additional Notes attached hereto as Exhibits A, B, and C shall be
modified upon the happening of certain events as follows:

                    (i) In the event the Company should at any time prior to the First Note Closing or an
Additional Note Closing split or subdivide the outstanding shares of its Series E Preferred Stock
(or other securities that would be issuable upon conversion of any then-unissued Additional Note)
or issue additional shares of Series E Preferred Stock (or other securities that would be issuable
upon conversion of any then-unissued Additional Note) to the holders thereof as a dividend or make
any other distribution payable in additional shares of Series E Preferred Stock (or other
securities that would be issuable upon conversion of any then-unissued Additional Note) to the
holders thereof without payment of any consideration by such holder for the additional shares of
Series E Preferred Stock (or such other securities), then, as of the date of such dividend,
distribution, split or subdivision, the Conversion Price as set forth in the form of Additional
Note shall be appropriately decreased so that the number of shares of Series E Preferred Stock or
other securities issuable upon conversion of the Additional Note shall be increased in proportion
to such increase of outstanding shares of Series E Preferred Stock or other securities issuable
upon conversion of the Additional Note, as applicable. If the number of shares of Series E
Preferred Stock (or other securities that would be issuable upon conversion of any then-unissued
Additional Note) outstanding at any time prior to the First Note Closing or an Additional Note
Closing is decreased by a combination of the outstanding shares of Series E Preferred Stock (or
such other securities), then, following the record date of such combination, the Conversion Price
set forth in the form of Additional Note shall be appropriately increased so that the number of
shares of Series E Preferred Stock or other securities issuable upon conversion of the Additional
Note shall be decreased in proportion to such decrease in outstanding shares of Series E Preferred
Stock or other securities issuable upon conversion of the Additional Note, as applicable.

                    (ii) In case of any reclassification, capital reorganization, or change in the Series E
Preferred Stock (or other securities that would be issuable upon conversion of any then-unissued
Additional Note) of the Company prior to the First Note Closing or an Additional Note Closing,
including conversion of such shares pursuant to the Company’s Articles of Incorporation then in
effect (other than as a result of a split, subdivision, combination, or stock dividend provided for
in Section 5.2(d)(i)), then appropriate adjustment shall be made to the Conversion Price and kind
of securities or other property issuable upon conversion of the form of Additional Note so that the
Additional Note if purchased shall be convertible upon the terms set forth therein as of the date
of such First Note Closing or Additional Note Closing, as applicable, into the kind and amount of
shares of stock and other securities and property receivable in connection
with such reclassification, reorganization, or change by a holder of the same number of shares
of Series E Preferred Stock or other securities as would be issuable on conversion of the
Additional Note as of the First Note Closing or such Additional Note Closing, as the case may
require.

                    (iii) If at any time prior to the First Note Closing or an Additional Note Closing, as the
case may require, there shall be an acquisition of the Company by merger, consolidation or
otherwise where the Company is not the surviving corporation or as a result of

-16-

 

which all of the
outstanding capital stock of the Company is exchanged for capital stock of another corporation,
then, as a part of such acquisition, the Conversion Price and kind of securities issuable upon
conversion of the form of Additional Note shall be appropriately adjusted so that if such
Additional Note is purchased such Additional Note shall initially be convertible into, the number
of shares of stock or other securities or property of the surviving or successor corporation
resulting from such acquisition (or the corporation the capital stock of which is issued in
exchange for the capital stock of the Company), to which a holder of the securities that would be
issuable upon conversion of such Additional Note would have been entitled in such acquisition if
such Additional Note had been converted immediately before such acquisition.

               (e) Transfer. In the event that the Company issues any of the Additional Notes to the
Purchaser, each issued Additional Note and any securities issued on conversion thereof (including
securities issued on conversion of such securities) shall be subject to Section 4.1 of this
Agreement, the Investment Representation Statement and the restrictions on transfer set forth in
such Additional Note.

     6. Termination.  This Agreement shall terminate and shall be of no further force or
effect at such time as (i) the Company has paid to Purchaser in cash, by check or by wire transfer
the principal amount and accrued interest owing under all outstanding Additional Notes or all
outstanding Additional Notes have been converted into Note Shares in accordance with their Terms
and (ii) the Company has no further right to require the Purchaser to purchase any Additional Notes
pursuant to this Agreement; provided, however, that in the event of the conversion
of any of the Additional Notes, Section 12 of each such Additional Note, and Section 3, Section 5.1
and Section 8 hereof shall survive such termination.

     7. Miscellaneous. 

          7.1 Governing Law.  This Agreement and the Additional Notes (if issued) shall in all
respects be governed by and construed and enforced in accordance with the laws of the State of
California, without reference to the conflicts of law provisions thereof.

          7.2 California Corporate Securities Law.  THE SALE OF THE SECURITIES THAT ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED
WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH
SECURITIES OR THE PAYMENT AND RECEIPT OF ANY PART OF THE CONSIDERATION THEREFROM PRIOR TO SUCH
REGISTRATION IS UNLAWFUL UNLESS AN EXEMPTION FROM SUCH QUALIFICATION IS AVAILABLE. THE RIGHTS OF
ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON REGISTRATION BEING OBTAINED, UNLESS
THE SALE IS SO EXEMPT.

          7.3 Survival.  The representations, warranties, covenants and agreements made in this
Agreement shall survive any investigation made by any party hereto and the closing of the
transactions contemplated hereby.

-17-

 

          7.4 Successors and Assigns.  Except as otherwise provided herein, the provisions hereof
shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and
administrators of the parties hereto; provided, however, that the covenants and agreements of the
Company set forth in Section 4 and the obligation of the Purchaser to purchase the Additional Notes
as set forth in Section 1.1 and Section 5.2 shall not be assigned or transferred by Purchaser by
operation of law or otherwise without the prior written consent of the Company.

          7.5 Entire Agreement; Amendment.  This Agreement (including its exhibits), the Schedule of
Exceptions, the Business Plan, and the Additional Notes constitute the full and entire
understanding and agreement between the parties with regard to the subjects hereof and thereof, and
no party shall be liable or bound to any other party in any manner by any warranties,
representations, or covenants except as specifically set forth herein or therein. Except as
expressly provided herein, neither this Agreement nor any term hereof may be amended, waived,
discharged or terminated other than by a written instrument signed by the party against whom
enforcement of any such amendment, waiver, discharge or termination is sought.

          7.6 Notices, etc.  Any notice, request, other communication, or payment required or
permitted hereunder shall be in writing and shall be deemed to have been duly given upon delivery,
if delivered personally or by facsimile, or by recognized overnight courier service, or five days
after deposit, if deposited in the United States mail for mailing by registered or certified mail,
postage prepaid, and addressed as follows:

	 	 	 	 	 
	 
	 	If to Purchaser:	 	Biomedical Sciences Investment Fund Pte Ltd
	 
	 	 	 	20 Biopolis Way
	 
	 	 	 	#09-01 Centros
	 
	 	 	 	Singapore 138668
	 
	 	 	 	Attention: Chu Swee Yeok
	 
	 	 	 	Tel:  65-6336-2288
	 
	 	 	 	Fax:  65-6334-8478
	 
	 	 	 	 
	 
	 	If to the Company:	 	Fluidigm Corporation
	 
	 	 	 	7100 Shoreline Court
	 
	 	 	 	South San Francisco, California  94080
	 
	 	 	 	Attention:  Chief Executive Officer
	 
	 	 	 	Tel:  (650) 266-6000
	 
	 	 	 	Fax:  (650) 871-7195
	 
	 	 	 	 
	 
	 	with a copy to:	 	Wilson Sonsini Goodrich & Rosati, P.C.
	 
	 	 	 	650 Page Mill Road
	 
	 	 	 	Palo Alto, California  94304-1050
	 
	 	 	 	Attention:  Ken Clark and Robert Kornegay
	 
	 	 	 	Tel:  (650) 493-9300
	 
	 	 	 	Fax:  (650) 493-6811

-18-

 

     Each of the above addressees may change its address or facsimile number for purposes of this
paragraph by giving to the other addressee notice of such new address in conformity with this
paragraph.

          7.7 Counterparts; Facsimile.  This Agreement may be executed in counterparts, each of
which shall be enforceable against the party or parties actually executing such counterparts, and
all of which together shall constitute one instrument. This Agreement may be executed by facsimile
signature.

          7.8 Severability.  In the event that any provision of this Agreement becomes or is
declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement
shall continue in full force and effect without said provision.

          7.9 Expenses.  Except as set forth in the Purchase Agreement, each party shall pay all
costs and expenses that it incurs with respect to the negotiation, execution and delivery and
performance of this Agreement. If any action at law or in equity is necessary to enforce or
interpret the terms of this Agreement, or any of the Additional Notes, the prevailing party shall
be entitled to reasonable
attorney’s fees, costs and necessary distributions in addition to any other relief to which
such party may be entitled.

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

          7.11 Jury Trial.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING (WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS AGREEMENT.

          7.12 Jurisdiction; Venue.  The parties hereto agree to submit to the jurisdiction of and
venue in the federal and state courts of San Mateo County, California with respect to the breach or
interpretation of this Agreement or the enforcement of any and all rights, duties, liabilities,
obligations, powers, and other relations between the parties arising under this Agreement.

          7.13 Currency.  Any reference to “dollars” or “$” in this Agreement shall refer to the
lawful currency of the United States of America.

[Remainder of Page Intentionally Left Blank; Signature Page to Follow]

-19-

 

     IN WITNESS WHEREOF, the parties have caused this Convertible Note Purchase Agreement to be
duly executed and delivered by their proper and duly authorized officers as of the date and year
first written above.

	 	 	 	 	 
	 	COMPANY:

Fluidigm
Corporation

	 
	 	By:  	/s/ Gajus V. Worthington
 	 
	 	 	Gajus V. Worthington 	 
	 	 	Chief Executive Officer 	 
	 

	 	 	 	 	 	 	 
	 	 	PURCHASER:	 	 
	 
	 	 	 	 	 	 
	 	 	Biomedical Sciences Investment Fund Pte Ltd	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Chu Swee Yeok
 

	 	 

	 	 	 	 	 	 	 
	 

	 	Print Name:
	 	Chu Swee Yeok
 

	 	 

	 	 	 	 	 	 	 
	 

	 	Title:
	 	Director
 

	 	 

[SIGNATURE PAGE TO CONVERTIBLE NOTE PURCHASE AGREEMENT]

 

 

EXHIBIT A

 

 

THIS NOTE AND THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT
AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”). SUCH SECURITIES MAY NOT BE SOLD, TRANSFERRED OR PLEDGED IN THE
ABSENCE OF SUCH REGISTRATION OR UNLESS THE COMPANY RECEIVES AN OPINION OF COUNSEL
(WHICH MAY BE COUNSEL FOR THE COMPANY), OR OTHER EVIDENCE, REASONABLY ACCEPTABLE TO
IT STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS
DELIVERY REQUIREMENTS OF THE SECURITIES ACT. THIS NOTE MAY ONLY BE TRANSFERRED UPON
THE TERMS AND CONDITIONS CONTAINED IN THE NOTE AND IN AN AGREEMENT BETWEEN HOLDER
AND THE COMPANY

Fluidigm Corporation

a California corporation

CONVERTIBLE PROMISSORY NOTE

NOTE NUMBER E-1

	 	 	 
	US$5,000,000

	 	August ___, 2006
	 

	 	South San Francisco, California

     1. Principal and Interest. Fluidigm Corporation (the “Company”), a
California corporation, for value received, hereby promises to pay to the order of Biomedical
Sciences Investment Fund Pte Ltd (the “Holder”) in lawful money of the United States of
America, the principal amount of Five Million Dollars (US$5,000,000), or such lesser amount as
shall equal the outstanding principal amount hereof, together with interest from the date of this
Note on the unpaid principal balance at a rate equal to 8.00% per annum, computed on the basis of
the actual number of days elapsed and a year of 365 days, compounded annually.

     This Convertible Promissory Note (“Note”) is the first Note issued pursuant to that
certain Convertible Note Purchase Agreement dated August ___, 2006 (as amended, modified or
supplemented, the “Note Purchase Agreement”) between the Company and the Holder. Unless
defined herein, capitalized terms shall have the same meanings ascribed to them in the Note
Purchase Agreement.

     Unless converted in accordance with Section 3, this Note shall become due and payable as to
both accrued interest and principal on the Payment Date (as defined in Section 3). This Note may
be prepaid by Company at any time after January 31, 2007, in accordance with the terms of Section 2
of this Note. Upon payment in full of all principal and interest payable hereunder (including upon
any conversion), this Note shall be surrendered to the Company for cancellation. All payments
hereon shall be applied first to accrued interest and second to the reduction of principal.

 

 

 

     2. Prepayment of Note. At any time after January 31, 2007, upon five days prior
written notice to Holder (the “Prepayment Notice”), the Company may prepay this Note in
whole or in part; provided that any such prepayment will be applied first to the payment of
expenses due under this Note, second to interest accrued on this Note and third, if the amount of
prepayment exceeds the amount of all such expenses and accrued interest, to the payment of
principal of this Note. In the event that the Holder desires to avoid prepayment of the Note by
the Company, the Holder must within five days of its receipt of the Prepayment Notice deliver to
the Company the Conversion Notice pursuant to Section 3(c)(iii) electing to convert this Note, in
which case this Note will not be prepaid as provided in the Prepayment Notice and will instead be
converted into shares of Series E Preferred Stock of the Company in accordance with Section 3 of
this Note.

     3. Conversion.

          (a) Conversion Events. Upon the earlier to occur of (i) an Initial Public Offering
(as defined below) or (ii) satisfaction of each of the Milestones (as defined below) (either, a
“Conversion Event”), all of the then outstanding principal and accrued interest owing under
this Note shall convert into that number of shares of Series E Preferred Stock of the Company
determined by dividing (i) the aggregate principal and accrued interest owing under this Note as of
the date of such Conversion Event by (ii) the Conversion Price (as defined below). Notwithstanding
the foregoing, by complying with Section 3(c)(iii) hereof, the Holder may at any time earlier elect
to convert this Note into that number of shares of Series E Preferred Stock determined by dividing
(i) the aggregate principal and accrued interest owing under this Note as of the date of the
Conversion Notice (as defined in Section 3(c)(iii)) by (ii) the Conversion Price (as defined
below).

          (b) Definitions. For purposes of this Note, the following terms shall have the
following meanings:

               (i) The term “Change of Control Transaction” shall mean (i) the acquisition of the
Company by another entity by means of any transaction or series of related transactions (including,
without limitation, any stock acquisition, reorganization, merger or consolidation but excluding
any merger effected exclusively for the purpose of changing the domicile of the Corporation) other
than a transaction or series of transactions in which the holders of the voting securities of the
Company outstanding immediately prior to such transaction or series of transactions continue to
retain (either by such voting securities remaining outstanding or by such voting securities being
converted into voting securities of the surviving entity), as a result of shares in the Company
held by such holders prior to such transaction, at least fifty percent (50%) of the total voting
power represented by the voting securities of the Company or such surviving entity outstanding
immediately after such transaction or series of transactions; or (ii) a sale, transfer, lease or
other conveyance of all or substantially all of the assets of the Corporation.

               (ii) The term “Conversion Price” shall mean US$3.60, subject to adjustment as set
forth in Section 5 below.

               (iii) The term “Initial Public Offering” shall mean the first sale of securities of
the Company pursuant to an effective registration statement under the Securities Act of 1933 (the
“Securities Act”) after or in connection with which the outstanding shares of Preferred
Stock of the

-2-

 

Company have been converted into Common Stock pursuant to the Company’s then existing Articles
of Incorporation or otherwise.

               (iv) Unless otherwise agreed in writing between the Company and the Holder, the term
“Milestones” shall mean satisfaction of the following:

                    (1) The Company will have an approved System Architecture for a BioMark II Chip Loader, as
demonstrated by a System Architecture approval form duly signed-off. The approval is typically
characterized by the completion of the Product Marketing Specifications and the Product Development
Plan (including Budget and Staffing Plans), as well as the development of working breadboards for
critical subsystems;

                    (2) This approved System Architecture will have been reviewed with at least three prospective
early adopter customers; and

                    (3) The Subsidiary will have hired four (4) Research and Development Engineers in conjunction
with the BioMark II project. These new employees shall have received training by the Company at
its headquarters (or such other facility as may be necessary or appropriate) in accordance with the
position and job function of each such employee.

               (v) The term “Payment Date” shall mean [INSERT DATE TWO YEARS FROM DATE OF NOTE] or
such later date as may be mutually agreed in writing by Holder and the Company.

          (c) Conversion Procedure.

               (i) Conversion in Connection with Initial Public Offering. Upon the occurrence of an
Initial Public Offering as set forth in Section 3(a), this Note shall convert automatically without
further action on the part of the Holder hereof. Written notice shall be delivered to Holder at
the address last shown on the records of Company for Holder or given by Holder to Company for the
purpose of notice notifying Holder of the conversion effected or to be effected, specifying the
Conversion Price, the date on which such conversion occurred or is expected to occur and calling
upon such Holder to surrender to Company, in the manner and at the place designated, the Note.

               (ii) Conversion in Connection with Satisfaction of Milestones. If the Company
reasonably believes that it has satisfied all of the Milestones, it may send written notice thereof
(the “Milestone Completion Notice”) to the Holder (at the address last shown on the records
of the Company for the Holder or given by Holder to Company for the purpose of notice) specifying
the Conversion Price, the date on which the Company reasonably believes all of the Milestones were
satisfied (the “Notified Milestone Completion Date”), together with a duly executed
compliance certificate dated as of the Notified Milestone Completion Date substantially in the form
attached hereto as Exhibit A (the “Compliance Certificate”), and calling upon
Holder to surrender to the Company the Note. In the event that the Holder reasonably believes that
any of (i) the Milestones have not been satisfied or (ii) the representations and warranties made
in the Compliance Certificate are inaccurate in any material respect, the Holder may provide
written notice (the “Milestone 

-3-

 

Response Notice”) to the Company of such disagreement and/or inaccuracy within 30 days
of its receipt of the Milestone Completion Notice. The Milestone Response Notice shall specify in
reasonable detail the reasons for such disagreement and/or basis for belief that any of the
representations and warranties made in the Compliance Certificate are inaccurate and shall be
accompanied by reasonably available support documentation evidencing the basis for such
disagreement or belief. If the Holder shall fail to provide the Milestone Response Notice within
such time period, the Milestones shall be deemed satisfied as of the Notified Milestone Completion
Date and this Note shall be automatically converted as set forth in Section 3(a). If the Holder
shall have timely provided the Milestone Response Notice, the Company and the Holder shall in good
faith attempt to resolve their disagreement as to the satisfaction of the Milestones and/or the
accuracy of the representations and warranties in the Compliance Certificate. If the Company and
Holder are unable to resolve their disagreement within 30 days of the Company’s receipt of the
Milestone Response Notice, the Company may pay to the Holder the principal and interest owing under
this Note as of the Notified Milestone Completion Date (in which case the Note shall be cancelled
and surrendered) or may pursue any other remedy that may be available to it under applicable law.

               (iii) Elective Conversion. If the Holder wishes to voluntarily convert this Note as
set forth in Section 3(a) hereof prior to a Conversion Event, the Holder shall surrender this Note
to the Company and provide the Company with a written notice (the “Conversion Notice”) to
that effect.

               (iv) Certificate; Time of Conversion. Upon conversion of this Note, the Holder shall
promptly surrender this Note, duly endorsed, at the principal office of Company. At its expense,
the Company shall, as soon as practicable thereafter, issue and deliver to such Holder at such
principal office a certificate or certificates for the number of shares to which Holder shall be
entitled upon such conversion (bearing such legends as are required by this Note and the Note
Purchase Agreement and applicable state and federal securities laws in the opinion of counsel to
Company), together with any other securities and property to which Holder is entitled upon such
conversion under the terms of this Note, including a check payable to Holder for any cash amounts
payable as described in Section 3(d). Any such conversion of this Note shall be deemed to have
been made immediately prior to the Conversion Event as described in Section 3(a) (or in the case of
delivery of the Conversion Notice as set forth in Section 3(c)(iii), upon the Company’s receipt of
such Conversion Notice); provided, however, the Holder shall not be deemed a record
holder of such shares or a purchaser of such shares until the Holder has delivered the Note for
conversion. On and after such date, the Holder shall be treated as a purchaser of such shares
under the Note Purchase Agreement and shall be bound by the applicable terms of this Note and Note
Purchase Agreement.

          (d) Fractional Shares. No fractional shares will be issued upon any conversion of
this Note. In lieu of any fractional share to which the Holder would otherwise be entitled, the
Company will pay to the Holder in cash that amount of the unconverted principal and interest
balance of this Note.

          (e) Reservation of Shares. The Company will at all times reserve and keep available
out of its authorized but unissued shares or shares held in treasury, sufficient shares of Series E
Preferred Stock or other securities to permit the full conversion of the outstanding principal

-4-

 

and interest of this Note pursuant to the terms of this Note. In the event the Company shall
have insufficient shares of Series E Preferred Stock or other securities to permit the full
conversion of the outstanding principal and accrued interest of this Note pursuant to the terms
hereof, the Company hereby covenants and agrees that the Company shall use its commercially
reasonable efforts to seek board and shareholder approval of an amendment to the Company’s Articles
of Incorporation in order to authorize an increase in the number of authorized shares of Series E
Preferred Stock or other securities of the Company in a sufficient amount so that the aggregate
number of shares of Series E Preferred Stock or other securities issuable upon conversion of this
Note will then be authorized and available for issuance.

     4. Change of Control Transaction. The Company shall provide the Holder with 15 days
written notice of the closing of a Change of Control Transaction, specifying in reasonable detail
the terms of such Change of Control Transaction. If the Holder shall not have voluntarily elected
to convert this Note as set forth in Section 3(c)(iii) within such 15 day period, the Company may
prepay the entire principal amount and interest owing under this Note as of the date of such
prepayment. The Holder shall thereafter promptly return the Note to the Company for cancellation.

     5. Change in Series E Preferred Stock.

          (a) Split, Subdivision or Combination of Series E Preferred Stock. In the event the
Company should at any time or from time to time after the date of issuance hereof split or
subdivide the outstanding shares of its Series E Preferred Stock (or other securities issuable upon
conversion of this Note) or issue additional shares of Series E Preferred Stock (or other
securities issuable upon conversion of this Note) to the holders thereof as a dividend or make any
other distribution payable in additional shares of Series E Preferred Stock (or other securities
issuable upon conversion of this Note) to the holders thereof without payment of any consideration
by such holder for the additional shares of Series E Preferred Stock (or such other securities),
then, as of the date of such dividend, distribution, split or subdivision, the Conversion Price of
this Note shall be appropriately decreased so that the number of shares of Series E Preferred Stock
or other securities issuable upon conversion of this Note shall be increased in proportion to such
increase of outstanding shares of Series E Preferred Stock or other securities issuable upon
conversion of this Note, as applicable. If the number of shares of Series E Preferred Stock (or
other securities issuable upon conversion of this Note) outstanding at any time after the date
hereof is decreased by a combination of the outstanding shares of Series E Preferred Stock (or
other securities issuable upon conversion of this Note), then, following the record date of such
combination, the Conversion Price for this Note shall be appropriately increased so that the number
of shares of Series E Preferred Stock or other securities issuable on conversion hereof shall be
decreased in proportion to such decrease in outstanding shares of Series E Preferred Stock or other
securities issuable upon conversion of this Note, as applicable.

          (b) Reclassification etc. In case of any reclassification, capital reorganization, or
change in the Series E Preferred Stock (or other securities issuable upon conversion of this Note)
of the Company, including conversion of such shares pursuant to the Company’s Articles of
Incorporation then in effect (other than as a result of a split, subdivision, combination, or stock
dividend provided for in Section 5(a) above), then appropriate adjustment shall be made to the
Conversion Price and kind of securities or other property issuable upon conversion of this Note so

-5-

 

that this Note shall be convertible upon the terms set forth herein into the kind and amount
of shares of stock and other securities and property receivable in connection with such
reclassification, reorganization, or change by a holder of the same number of shares of Series E
Preferred Stock or other securities as are issuable on conversion of this Note.

          (c) Merger or Consolidation. Other than a Change of Control Transaction in connection
with which this Note has been converted or prepaid, if at any time there shall be an acquisition of
the Company by merger, consolidation or otherwise where the Company is not the surviving
corporation or as a result of which all of the outstanding capital stock of the Company is
exchanged for capital stock of another corporation, then, as a part of such acquisition, the
Conversion Price and kind of securities issuable upon conversion hereof shall be appropriately
adjusted so that the Holder shall receive upon conversion of this Note, the number of shares of
stock or other securities or property of the surviving or successor corporation resulting from such
acquisition (or the corporation the capital stock of which is issued in exchange for the capital
stock of the Company), to which a holder of the securities issuable upon conversion of this Note
would have been entitled in such acquisition if this Note had been converted immediately before
such acquisition.

     6. Payment Due Date. If not previously converted into shares of Series E Preferred
Stock pursuant to Section 3 hereof and if not sooner prepaid by the Company pursuant to Section 2
hereof or accelerated and declared due and owing by the Holder pursuant to Section 7 hereof, the
principal amount and any accrued interest due thereon then outstanding under this Note will become
due and payable on the Payment Date.

     7. Default. The Company shall be deemed to be in default under this Note in the event
(i) the Company shall fail to materially perform any covenant or agreement of the Company contained
in Section 4 of the Note Purchase Agreement for a period of 30 days after written notice of such
failure from Holder; (ii) the Company shall have failed to make payment of principal or interest
due on the Note when such principal and interest becomes due; or (iii) the Company shall commence,
whether voluntarily or involuntarily a case or other proceeding seeking liquidation, reorganization
or other relief with respect to itself or its debts under any bankruptcy, insolvency or other
similar law now or hereafter in effect or consent to any such relief or to the appointment of or
taking possession of its property by any official in an involuntary case or other proceeding
commenced against it. In the case of an event of default, the Holder may, by written notice to the
Company, declare the unpaid principal amount of this Note, all interest accrued and unpaid hereon,
and all other amounts payable hereunder to be immediately due and payable, without presentment,
demand, protest, or further notice of any kind, as well as enforce all other rights and remedies
available to the Holder under applicable law.

     8. Notices. Any notice, request, other communication, or payment required or
permitted hereunder shall be in writing and shall be deemed to have been duly given upon delivery,
if delivered personally by facsimile, or by recognized overnight courier service, or five days
after deposit, if deposited in the United States mail for mailing by registered or certified mail,
postage prepaid, and addressed as follows:

-6-

 

	 	 	 	 	 
	 

	 	If to Holder:
	 	Biomedical Sciences Investment Fund Pte Ltd
	 

	 	 	 	20 Biopolis Way
	 

	 	 	 	#09-01 Centros
	 

	 	 	 	Singapore 138668 
	 

	 	 	 	Attention: Chu Swee Yeok
	 

	 	 	 	Tel: 65-6336-2288 
	 

	 	 	 	Fax: 65-6334-8478 
	 
	 	 	 	 
	 

	 	If to the Company:
	 	Fluidigm Corporation
	 

	 	 	 	7100 Shoreline Court
	 

	 	 	 	South San Francisco, California 94080 
	 

	 	 	 	Attention: Chief Executive Officer
	 

	 	 	 	Tel: (650) 266-6000 
	 

	 	 	 	Fax: (650) 871-7195 
	 
	 	 	 	 
	 

	 	 	 	with a copy to:
	 
	 	 	 	 
	 

	 	 	 	Wilson Sonsini Goodrich & Rosati, P.C.
	 

	 	 	 	650 Page Mill Road
	 

	 	 	 	Palo Alto, California 94304-1050 
	 

	 	 	 	Attention: Ken Clark and Robert Kornegay
	 

	 	 	 	Tel: (650) 493-9300 
	 

	 	 	 	Fax: (650) 493-6811 

     Each of the above addressees may change its address or facsimile number for purposes of this
paragraph by giving to the other addressee notice of such new address in conformity with this
paragraph.

     9. Amendments. This Note may be amended and any provision hereof waived with the
consent of the Company and the Holder.

     10. No Rights as Shareholder. Nothing in this Note shall be construed as conferring
upon the Holder or any other person the right to vote or to consent or to receive notice as a
shareholder in respect of meetings of shareholders for the election of directors of the Company or
any other matters or any rights whatsoever as a shareholder of the Company until, and only to the
extent that, this Note shall have been converted.

     11. Successors and Assigns. Subject to the restrictions on transfer described in
Section 12 and in the Note Purchase Agreement, the rights and obligations of the Company and
Investor shall be binding upon and benefit the successors, assigns, heirs, administrators and
transferees of the parties.

     12. Transfer of Note and Securities Issuable on Conversion Hereof. Prior to the
conversion of this Note, this Note (or the underlying securities issuable upon conversion hereof)
may not be sold, assigned, transferred, pledged or otherwise disposed of by the Holder, in whole or
in part, without the prior written consent of the Company. With respect to any sale, assignment,

-7-

 

transfer, pledge or other disposition of the securities into which this Note may be converted
after conversion of this Note, the Holder may only transfer such securities pursuant to, and on the
conditions set forth in that certain Eighth Amended and Restated Investor Rights Agreement dated
June 13, 2006 between the Company and certain investors in the Company (including Holder), as may
be amended from time to time (the “Rights Agreement”). The Holder shall cause any proposed
purchaser, assignee, transferee or pledgee of such securities to agree in writing to take and hold
such securities subject to and upon the conditions specified in this Note, the Note Purchase
Agreement, and the Rights Agreement, including, without limitation, Sections 1.2, 1.3, 1.4, and
1.14 of the Rights Agreement.

     13. Highest Lawful Rate. Anything herein to the contrary notwithstanding, if during
any period for which interest is computed hereunder, the amount of interest computed on the basis
provided for in this Note, together will all fees, charges, and other payments or rights which are
treated as interest under applicable law, as provided for herein or in any other document executed
in connection herewith, would exceed the amount of such interest computed on the basis of the
Highest Lawful Rate, the Company shall not be obligated to pay, and the Holder shall not be
entitled to charge, collect, receive, reserve, or take, interest in excess of the Highest Lawful
Rate, and during any such period the interest payable hereunder shall be computed on the basis of
the Highest Lawful Rate. As used herein, “Highest Lawful Rate” means the maximum
non-usurious rate of interest, as in effect from time to time, which may be charged, contracted
for, reserved, received, or collected by the Holder in connection with this Note under applicable
law. In accordance with this section, any amounts received in excess of the Highest Lawful Rate
shall be applied towards the prepayment of principal then outstanding.

     14. Miscellaneous. The Company agrees to pay on demand all of the losses, costs, and
expenses (including, without limitation, attorneys’ fees and disbursements) which the Holder incurs
in connection with enforcement of this Note, or the protection or preservation of the Holder’s
rights under this Note, whether by judicial proceeding or otherwise. Such costs and expenses
include, without limitation, those incurred in connection with any workout or refinancing, or any
bankruptcy, insolvency, liquidation, or similar proceedings. The Company hereby waives
presentment, demand for performance, notice of non-performance, protest, notice of protest, and
notice of dishonor. No delay on the part of the Holder in exercising any right hereunder shall
operate as a waiver of such right or any other right. This Note is being delivered in and shall be
construed in accordance with the laws of the State of California without regard to the conflicts of
law provisions thereof. Any reference to “dollars” or “$” in this Note shall refer to the lawful
money of the United States of America.

[Remainder of Page Left Blank Intentionally]

-8-

 

     IN WITNESS WHEREOF, the Company has caused this Convertible Promissory Note to be executed by
its officer thereunto duly authorized as of the date first above written.

	 	 	 	 	 	 	 
	Dated: August ______, 2006	 	Fluidigm Corporation

a California corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 
	 	 
	 
	 

	 	Name:
	 	 
	 	 
	 
	 

	 	Title:
	 	 
	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	Acknowledged and Agreed:
	 	 	 	 	 	 
	 	 	Holder	 	 
	 
	 	 	Biomedical Sciences Investment Fund Pte Ltd	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 
	 	 
	 
	 

	 	Name:
	 	 
	 	 
	 
	 

	 	Title:
	 	 
	 	 
	 

	 	 	 	 

	 	 

[Convertible Promissory Note Signature Page]

 

 

 

EXHIBIT A

FORM OF COMPLIANCE CERTIFICATE

 

 

EXHIBIT B

 

 

THIS NOTE AND THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT
AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”). SUCH SECURITIES MAY NOT BE SOLD, TRANSFERRED OR PLEDGED IN THE
ABSENCE OF SUCH REGISTRATION OR UNLESS THE COMPANY RECEIVES AN OPINION OF COUNSEL
(WHICH MAY BE COUNSEL FOR THE COMPANY), OR OTHER EVIDENCE, REASONABLY ACCEPTABLE TO
IT STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS
DELIVERY REQUIREMENTS OF THE SECURITIES ACT. THIS NOTE MAY ONLY BE TRANSFERRED UPON
THE TERMS AND CONDITIONS CONTAINED IN THE NOTE AND IN AN AGREEMENT BETWEEN HOLDER
AND THE COMPANY

Fluidigm Corporation

a California corporation

CONVERTIBLE PROMISSORY NOTE

NOTE
NUMBER E-2

	 	 	 
	US$5,000,000

	 	______ ___, 20___
	 

	 	South San Francisco, California

     1. Principal and Interest. Fluidigm Corporation (the “Company”), a
California corporation, for value received, hereby promises to pay to the order of Biomedical
Sciences Investment Fund Pte Ltd (the “Holder”) in lawful money of the United States of
America, the principal amount of Five Million Dollars (US$5,000,000), or such lesser amount as
shall equal the outstanding principal amount hereof, together with interest from the date of this
Note on the unpaid principal balance at a rate equal to 8.00% per annum, computed on the basis of
the actual number of days elapsed and a year of 365 days, compounded annually.

     This
Convertible Promissory Note (“Note”) is the second Note issued pursuant to that
certain Convertible Note Purchase Agreement dated August ___, 2006 (as amended, modified or
supplemented, the “Note Purchase Agreement”) between the Company and the Holder. Unless
defined herein, capitalized terms shall have the same meanings ascribed to them in the Note
Purchase Agreement.

     Unless converted in accordance with Section 3, this Note shall become due and payable as to
both accrued interest and principal on the Payment Date (as defined in Section 3). This Note may
be prepaid by Company at any time,  in accordance with the terms of Section 2
of this Note. Upon payment in full of all principal and interest payable hereunder (including upon
any conversion), this Note shall be surrendered to the Company for cancellation. All payments
hereon shall be applied first to accrued interest and second to the reduction of principal.

 

 

 

     2. Prepayment of Note. Upon five days prior
written notice to Holder (the “Prepayment Notice”), the Company may prepay this Note in
whole or in part; provided that any such prepayment will be applied first to the payment of
expenses due under this Note, second to interest accrued on this Note and third, if the amount of
prepayment exceeds the amount of all such expenses and accrued interest, to the payment of
principal of this Note. In the event that the Holder desires to avoid prepayment of the Note by
the Company, the Holder must within five days of its receipt of the Prepayment Notice deliver to
the Company the Conversion Notice pursuant to Section 3(c)(iii) electing to convert this Note, in
which case this Note will not be prepaid as provided in the Prepayment Notice and will instead be
converted into shares of Series E Preferred Stock of the Company in accordance with Section 3 of
this Note.

     3. Conversion.

          (a) Conversion Events. Upon the earlier to occur of (i) an Initial Public Offering
(as defined below) or (ii) satisfaction of each of the Milestones (as defined below) (either, a
“Conversion Event”), all of the then outstanding principal and accrued interest owing under
this Note shall convert into that number of shares of Series E Preferred Stock of the Company
determined by dividing (i) the aggregate principal and accrued interest owing under this Note as of
the date of such Conversion Event by (ii) the Conversion Price (as defined below). Notwithstanding
the foregoing, by complying with Section 3(c)(iii) hereof, the Holder may at any time earlier elect
to convert this Note into that number of shares of Series E Preferred Stock determined by dividing
(i) the aggregate principal and accrued interest owing under this Note as of the date of the
Conversion Notice (as defined in Section 3(c)(iii)) by (ii) the Conversion Price (as defined
below).

          (b) Definitions. For purposes of this Note, the following terms shall have the
following meanings:

               (i) The term “Change of Control Transaction” shall mean (i) the acquisition of the
Company by another entity by means of any transaction or series of related transactions (including,
without limitation, any stock acquisition, reorganization, merger or consolidation but excluding
any merger effected exclusively for the purpose of changing the domicile of the Corporation) other
than a transaction or series of transactions in which the holders of the voting securities of the
Company outstanding immediately prior to such transaction or series of transactions continue to
retain (either by such voting securities remaining outstanding or by such voting securities being
converted into voting securities of the surviving entity), as a result of shares in the Company
held by such holders prior to such transaction, at least fifty percent (50%) of the total voting
power represented by the voting securities of the Company or such surviving entity outstanding
immediately after such transaction or series of transactions; or (ii) a sale, transfer, lease or
other conveyance of all or substantially all of the assets of the Corporation.

               (ii) The term “Conversion Price” shall mean US$3.60, subject to adjustment as set
forth in Section 5 below.

               (iii) The term “Initial Public Offering” shall mean the first sale of securities of
the Company pursuant to an effective registration statement under the Securities Act of 1933 (the
“Securities Act”) after or in connection with which the outstanding shares of Preferred
Stock of the

-2-

 

Company have been converted into Common Stock pursuant to the Company’s then existing Articles
of Incorporation or otherwise.

               (iv) Unless otherwise agreed in writing between the Company and the Holder, the term
“Milestones” shall mean satisfaction of the following:

                    (1) The
Company will have an approved System Architecture for a BioMark II
Endpoint Reader, as
demonstrated by a System Architecture approval form duly signed-off. The approval is typically
characterized by the completion of the Product Marketing Specifications and the Product Development
Plan (including Budget and Staffing Plans), as well as the development of working breadboards for
critical subsystems;

                    (2) This
approved System Architecture will have been represented to at least
three (3) target customers; and

                    (3) The
Subsidiary will have hired three (3) more Research and
Development Engineers, with at least one (1) being a Software Engineer, in conjunction
with the BioMark II project (i.e., 7 total hires based on the
satisfaction of the Milestones in the First Note and the Milestones
in this Second Note). These new employees shall have received training by the Company at
its headquarters (or such other facility as may be necessary or appropriate) in accordance with the
position and job function of each such employee.

               (v) The term “Payment Date” shall mean [INSERT DATE TWO YEARS FROM DATE OF NOTE] or
such later date as may be mutually agreed in writing by Holder and the Company.

          (c) Conversion Procedure.

               (i) Conversion in Connection with Initial Public Offering. Upon the occurrence of an
Initial Public Offering as set forth in Section 3(a), this Note shall convert automatically without
further action on the part of the Holder hereof. Written notice shall be delivered to Holder at
the address last shown on the records of Company for Holder or given by Holder to Company for the
purpose of notice notifying Holder of the conversion effected or to be effected, specifying the
Conversion Price, the date on which such conversion occurred or is expected to occur and calling
upon such Holder to surrender to Company, in the manner and at the place designated, the Note.

               (ii) Conversion in Connection with Satisfaction of Milestones. If the Company
reasonably believes that it has satisfied all of the Milestones, it may send written notice thereof
(the “Milestone Completion Notice”) to the Holder (at the address last shown on the records
of the Company for the Holder or given by Holder to Company for the purpose of notice) specifying
the Conversion Price, the date on which the Company reasonably believes all of the Milestones were
satisfied (the “Notified Milestone Completion Date”), together with a duly executed
compliance certificate dated as of the Notified Milestone Completion Date substantially in the form
attached hereto as Exhibit A (the “Compliance Certificate”), and calling upon
Holder to surrender to the Company the Note. In the event that the Holder reasonably believes that
any of (i) the Milestones have not been satisfied or (ii) the representations and warranties made
in the Compliance Certificate are inaccurate in any material respect, the Holder may provide
written notice (the “Milestone 

-3-

 

Response Notice”) to the Company of such disagreement and/or inaccuracy within 30 days
of its receipt of the Milestone Completion Notice. The Milestone Response Notice shall specify in
reasonable detail the reasons for such disagreement and/or basis for belief that any of the
representations and warranties made in the Compliance Certificate are inaccurate and shall be
accompanied by reasonably available support documentation evidencing the basis for such
disagreement or belief. If the Holder shall fail to provide the Milestone Response Notice within
such time period, the Milestones shall be deemed satisfied as of the Notified Milestone Completion
Date and this Note shall be automatically converted as set forth in Section 3(a). If the Holder
shall have timely provided the Milestone Response Notice, the Company and the Holder shall in good
faith attempt to resolve their disagreement as to the satisfaction of the Milestones and/or the
accuracy of the representations and warranties in the Compliance Certificate. If the Company and
Holder are unable to resolve their disagreement within 30 days of the Company’s receipt of the
Milestone Response Notice, the Company may pay to the Holder the principal and interest owing under
this Note as of the Notified Milestone Completion Date (in which case the Note shall be cancelled
and surrendered) or may pursue any other remedy that may be available to it under applicable law.

               (iii) Elective Conversion. If the Holder wishes to voluntarily convert this Note as
set forth in Section 3(a) hereof prior to a Conversion Event, the Holder shall surrender this Note
to the Company and provide the Company with a written notice (the “Conversion Notice”) to
that effect.

               (iv) Certificate; Time of Conversion. Upon conversion of this Note, the Holder shall
promptly surrender this Note, duly endorsed, at the principal office of Company. At its expense,
the Company shall, as soon as practicable thereafter, issue and deliver to such Holder at such
principal office a certificate or certificates for the number of shares to which Holder shall be
entitled upon such conversion (bearing such legends as are required by this Note and the Note
Purchase Agreement and applicable state and federal securities laws in the opinion of counsel to
Company), together with any other securities and property to which Holder is entitled upon such
conversion under the terms of this Note, including a check payable to Holder for any cash amounts
payable as described in Section 3(d). Any such conversion of this Note shall be deemed to have
been made immediately prior to the Conversion Event as described in Section 3(a) (or in the case of
delivery of the Conversion Notice as set forth in Section 3(c)(iii), upon the Company’s receipt of
such Conversion Notice); provided, however, the Holder shall not be deemed a record
holder of such shares or a purchaser of such shares until the Holder has delivered the Note for
conversion. On and after such date, the Holder shall be treated as a purchaser of such shares
under the Note Purchase Agreement and shall be bound by the applicable terms of this Note and Note
Purchase Agreement.

          (d) Fractional Shares. No fractional shares will be issued upon any conversion of
this Note. In lieu of any fractional share to which the Holder would otherwise be entitled, the
Company will pay to the Holder in cash that amount of the unconverted principal and interest
balance of this Note.

          (e) Reservation of Shares. The Company will at all times reserve and keep available
out of its authorized but unissued shares or shares held in treasury, sufficient shares of Series E
Preferred Stock or other securities to permit the full conversion of the outstanding principal

-4-

 

and interest of this Note pursuant to the terms of this Note. In the event the Company shall
have insufficient shares of Series E Preferred Stock or other securities to permit the full
conversion of the outstanding principal and accrued interest of this Note pursuant to the terms
hereof, the Company hereby covenants and agrees that the Company shall use its commercially
reasonable efforts to seek board and shareholder approval of an amendment to the Company’s Articles
of Incorporation in order to authorize an increase in the number of authorized shares of Series E
Preferred Stock or other securities of the Company in a sufficient amount so that the aggregate
number of shares of Series E Preferred Stock or other securities issuable upon conversion of this
Note will then be authorized and available for issuance.

     4. Change of Control Transaction. The Company shall provide the Holder with 15 days
written notice of the closing of a Change of Control Transaction, specifying in reasonable detail
the terms of such Change of Control Transaction. If the Holder shall not have voluntarily elected
to convert this Note as set forth in Section 3(c)(iii) within such 15 day period, the Company may
prepay the entire principal amount and interest owing under this Note as of the date of such
prepayment. The Holder shall thereafter promptly return the Note to the Company for cancellation.

     5. Change in Series E Preferred Stock.

          (a) Split, Subdivision or Combination of Series E Preferred Stock. In the event the
Company should at any time or from time to time after the date of issuance hereof split or
subdivide the outstanding shares of its Series E Preferred Stock (or other securities issuable upon
conversion of this Note) or issue additional shares of Series E Preferred Stock (or other
securities issuable upon conversion of this Note) to the holders thereof as a dividend or make any
other distribution payable in additional shares of Series E Preferred Stock (or other securities
issuable upon conversion of this Note) to the holders thereof without payment of any consideration
by such holder for the additional shares of Series E Preferred Stock (or such other securities),
then, as of the date of such dividend, distribution, split or subdivision, the Conversion Price of
this Note shall be appropriately decreased so that the number of shares of Series E Preferred Stock
or other securities issuable upon conversion of this Note shall be increased in proportion to such
increase of outstanding shares of Series E Preferred Stock or other securities issuable upon
conversion of this Note, as applicable. If the number of shares of Series E Preferred Stock (or
other securities issuable upon conversion of this Note) outstanding at any time after the date
hereof is decreased by a combination of the outstanding shares of Series E Preferred Stock (or
other securities issuable upon conversion of this Note), then, following the record date of such
combination, the Conversion Price for this Note shall be appropriately increased so that the number
of shares of Series E Preferred Stock or other securities issuable on conversion hereof shall be
decreased in proportion to such decrease in outstanding shares of Series E Preferred Stock or other
securities issuable upon conversion of this Note, as applicable.

          (b) Reclassification etc. In case of any reclassification, capital reorganization, or
change in the Series E Preferred Stock (or other securities issuable upon conversion of this Note)
of the Company, including conversion of such shares pursuant to the Company’s Articles of
Incorporation then in effect (other than as a result of a split, subdivision, combination, or stock
dividend provided for in Section 5(a) above), then appropriate adjustment shall be made to the
Conversion Price and kind of securities or other property issuable upon conversion of this Note so

-5-

 

that this Note shall be convertible upon the terms set forth herein into the kind and amount
of shares of stock and other securities and property receivable in connection with such
reclassification, reorganization, or change by a holder of the same number of shares of Series E
Preferred Stock or other securities as are issuable on conversion of this Note.

          (c) Merger or Consolidation. Other than a Change of Control Transaction in connection
with which this Note has been converted or prepaid, if at any time there shall be an acquisition of
the Company by merger, consolidation or otherwise where the Company is not the surviving
corporation or as a result of which all of the outstanding capital stock of the Company is
exchanged for capital stock of another corporation, then, as a part of such acquisition, the
Conversion Price and kind of securities issuable upon conversion hereof shall be appropriately
adjusted so that the Holder shall receive upon conversion of this Note, the number of shares of
stock or other securities or property of the surviving or successor corporation resulting from such
acquisition (or the corporation the capital stock of which is issued in exchange for the capital
stock of the Company), to which a holder of the securities issuable upon conversion of this Note
would have been entitled in such acquisition if this Note had been converted immediately before
such acquisition.

     6. Payment Due Date. If not previously converted into shares of Series E Preferred
Stock pursuant to Section 3 hereof and if not sooner prepaid by the Company pursuant to Section 2
hereof or accelerated and declared due and owing by the Holder pursuant to Section 7 hereof, the
principal amount and any accrued interest due thereon then outstanding under this Note will become
due and payable on the Payment Date.

     7. Default. The Company shall be deemed to be in default under this Note in the event
(i) the Company shall fail to materially perform any covenant or agreement of the Company contained
in Section 4 of the Note Purchase Agreement for a period of 30 days after written notice of such
failure from Holder; (ii) the Company shall have failed to make payment of principal or interest
due on the Note when such principal and interest becomes due; or (iii) the Company shall commence,
whether voluntarily or involuntarily a case or other proceeding seeking liquidation, reorganization
or other relief with respect to itself or its debts under any bankruptcy, insolvency or other
similar law now or hereafter in effect or consent to any such relief or to the appointment of or
taking possession of its property by any official in an involuntary case or other proceeding
commenced against it. In the case of an event of default, the Holder may, by written notice to the
Company, declare the unpaid principal amount of this Note, all interest accrued and unpaid hereon,
and all other amounts payable hereunder to be immediately due and payable, without presentment,
demand, protest, or further notice of any kind, as well as enforce all other rights and remedies
available to the Holder under applicable law.

     8. Notices. Any notice, request, other communication, or payment required or
permitted hereunder shall be in writing and shall be deemed to have been duly given upon delivery,
if delivered personally by facsimile, or by recognized overnight courier service, or five days
after deposit, if deposited in the United States mail for mailing by registered or certified mail,
postage prepaid, and addressed as follows:

-6-

 

	 	 	 	 	 
	 

	 	If to Holder:
	 	Biomedical Sciences Investment Fund Pte Ltd
	 

	 	 	 	20 Biopolis Way
	 

	 	 	 	#09-01 Centros
	 

	 	 	 	Singapore 138668 
	 

	 	 	 	Attention: Chu Swee Yeok
	 

	 	 	 	Tel: 65-6336-2288 
	 

	 	 	 	Fax: 65-6334-8478 
	 
	 	 	 	 
	 

	 	If to the Company:
	 	Fluidigm Corporation
	 

	 	 	 	7100 Shoreline Court
	 

	 	 	 	South San Francisco, California 94080 
	 

	 	 	 	Attention: Chief Executive Officer
	 

	 	 	 	Tel: (650) 266-6000 
	 

	 	 	 	Fax: (650) 871-7195 
	 
	 	 	 	 
	 

	 	 	 	with a copy to:
	 
	 	 	 	 
	 

	 	 	 	Wilson Sonsini Goodrich & Rosati, P.C.
	 

	 	 	 	650 Page Mill Road
	 

	 	 	 	Palo Alto, California 94304-1050 
	 

	 	 	 	Attention: Ken Clark and Robert Kornegay
	 

	 	 	 	Tel: (650) 493-9300 
	 

	 	 	 	Fax: (650) 493-6811 

     Each of the above addressees may change its address or facsimile number for purposes of this
paragraph by giving to the other addressee notice of such new address in conformity with this
paragraph.

     9. Amendments. This Note may be amended and any provision hereof waived with the
consent of the Company and the Holder.

     10. No Rights as Shareholder. Nothing in this Note shall be construed as conferring
upon the Holder or any other person the right to vote or to consent or to receive notice as a
shareholder in respect of meetings of shareholders for the election of directors of the Company or
any other matters or any rights whatsoever as a shareholder of the Company until, and only to the
extent that, this Note shall have been converted.

     11. Successors and Assigns. Subject to the restrictions on transfer described in
Section 12 and in the Note Purchase Agreement, the rights and obligations of the Company and
Investor shall be binding upon and benefit the successors, assigns, heirs, administrators and
transferees of the parties.

     12. Transfer of Note and Securities Issuable on Conversion Hereof. Prior to the
conversion of this Note, this Note (or the underlying securities issuable upon conversion hereof)
may not be sold, assigned, transferred, pledged or otherwise disposed of by the Holder, in whole or
in part, without the prior written consent of the Company. With respect to any sale, assignment,

-7-

 

transfer, pledge or other disposition of the securities into which this Note may be converted
after conversion of this Note, the Holder may only transfer such securities pursuant to, and on the
conditions set forth in that certain Eighth Amended and Restated Investor Rights Agreement dated
June 13, 2006 between the Company and certain investors in the Company (including Holder), as may
be amended from time to time (the “Rights Agreement”). The Holder shall cause any proposed
purchaser, assignee, transferee or pledgee of such securities to agree in writing to take and hold
such securities subject to and upon the conditions specified in this Note, the Note Purchase
Agreement, and the Rights Agreement, including, without limitation, Sections 1.2, 1.3, 1.4, and
1.14 of the Rights Agreement.

     13. Highest Lawful Rate. Anything herein to the contrary notwithstanding, if during
any period for which interest is computed hereunder, the amount of interest computed on the basis
provided for in this Note, together will all fees, charges, and other payments or rights which are
treated as interest under applicable law, as provided for herein or in any other document executed
in connection herewith, would exceed the amount of such interest computed on the basis of the
Highest Lawful Rate, the Company shall not be obligated to pay, and the Holder shall not be
entitled to charge, collect, receive, reserve, or take, interest in excess of the Highest Lawful
Rate, and during any such period the interest payable hereunder shall be computed on the basis of
the Highest Lawful Rate. As used herein, “Highest Lawful Rate” means the maximum
non-usurious rate of interest, as in effect from time to time, which may be charged, contracted
for, reserved, received, or collected by the Holder in connection with this Note under applicable
law. In accordance with this section, any amounts received in excess of the Highest Lawful Rate
shall be applied towards the prepayment of principal then outstanding.

     14. Miscellaneous. The Company agrees to pay on demand all of the losses, costs, and
expenses (including, without limitation, attorneys’ fees and disbursements) which the Holder incurs
in connection with enforcement of this Note, or the protection or preservation of the Holder’s
rights under this Note, whether by judicial proceeding or otherwise. Such costs and expenses
include, without limitation, those incurred in connection with any workout or refinancing, or any
bankruptcy, insolvency, liquidation, or similar proceedings. The Company hereby waives
presentment, demand for performance, notice of non-performance, protest, notice of protest, and
notice of dishonor. No delay on the part of the Holder in exercising any right hereunder shall
operate as a waiver of such right or any other right. This Note is being delivered in and shall be
construed in accordance with the laws of the State of California without regard to the conflicts of
law provisions thereof. Any reference to “dollars” or “$” in this Note shall refer to the lawful
money of the United States of America.

[Remainder of Page Left Blank Intentionally]

-8-

 

     IN WITNESS WHEREOF, the Company has caused this Convertible Promissory Note to be executed by
its officer thereunto duly authorized as of the date first above written.

	 	 	 	 	 	 	 
	Dated: ______  ___, 20___	 	Fluidigm Corporation

a California corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 
	 	 
	 
	 

	 	Name:
	 	 
	 	 
	 
	 

	 	Title:
	 	 
	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	Acknowledged and Agreed:
	 	 	 	 	 	 
	 	 	Holder	 	 
	 
	 	 	Biomedical Sciences Investment Fund Pte Ltd	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 
	 	 
	 
	 

	 	Name:
	 	 
	 	 
	 
	 

	 	Title:
	 	 
	 	 
	 

	 	 	 	 

	 	 

[Convertible Promissory Note Signature Page]

 

 

 

EXHIBIT A

FORM OF COMPLIANCE CERTIFICATE

 

 

EXHIBIT C

 

 

THIS NOTE AND THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT
AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”). SUCH SECURITIES MAY NOT BE SOLD, TRANSFERRED OR PLEDGED IN THE
ABSENCE OF SUCH REGISTRATION OR UNLESS THE COMPANY RECEIVES AN OPINION OF COUNSEL
(WHICH MAY BE COUNSEL FOR THE COMPANY), OR OTHER EVIDENCE, REASONABLY ACCEPTABLE TO
IT STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS
DELIVERY REQUIREMENTS OF THE SECURITIES ACT. THIS NOTE MAY ONLY BE TRANSFERRED UPON
THE TERMS AND CONDITIONS CONTAINED IN THE NOTE AND IN AN AGREEMENT BETWEEN HOLDER
AND THE COMPANY

Fluidigm Corporation

a California corporation

CONVERTIBLE PROMISSORY NOTE

NOTE
NUMBER E-3

	 	 	 
	US$5,000,000

	 	_________ ___, 20__
	 

	 	South San Francisco, California

     1. Principal and Interest. Fluidigm Corporation (the “Company”), a
California corporation, for value received, hereby promises to pay to the order of Biomedical
Sciences Investment Fund Pte Ltd (the “Holder”) in lawful money of the United States of
America, the principal amount of Five Million Dollars (US$5,000,000), or such lesser amount as
shall equal the outstanding principal amount hereof, together with interest from the date of this
Note on the unpaid principal balance at a rate equal to 8.00% per annum, computed on the basis of
the actual number of days elapsed and a year of 365 days, compounded annually.

     This
Convertible Promissory Note (“Note”) is the third Note issued pursuant to that
certain Convertible Note Purchase Agreement dated August ___, 2006 (as amended, modified or
supplemented, the “Note Purchase Agreement”) between the Company and the Holder. Unless
defined herein, capitalized terms shall have the same meanings ascribed to them in the Note
Purchase Agreement.

     Unless converted in accordance with Section 3, this Note shall become due and payable as to
both accrued interest and principal on the Payment Date (as defined in Section 3). This Note may
be prepaid by Company at any time, in accordance with the terms of Section 2
of this Note. Upon payment in full of all principal and interest payable hereunder (including upon
any conversion), this Note shall be surrendered to the Company for cancellation. All payments
hereon shall be applied first to accrued interest and second to the reduction of principal.

[Convertible
Promissory Note Signature Page]

 

 

 

     2. Prepayment of Note. Upon five days prior
written notice to Holder (the “Prepayment Notice”), the Company may prepay this Note in
whole or in part; provided that any such prepayment will be applied first to the payment of
expenses due under this Note, second to interest accrued on this Note and third, if the amount of
prepayment exceeds the amount of all such expenses and accrued interest, to the payment of
principal of this Note. In the event that the Holder desires to avoid prepayment of the Note by
the Company, the Holder must within five days of its receipt of the Prepayment Notice deliver to
the Company the Conversion Notice pursuant to Section 3(c)(iii) electing to convert this Note, in
which case this Note will not be prepaid as provided in the Prepayment Notice and will instead be
converted into shares of Series E Preferred Stock of the Company in accordance with Section 3 of
this Note.

     3. Conversion.

          (a) Conversion Events. Upon the earlier to occur of (i) an Initial Public Offering
(as defined below) or (ii) satisfaction of each of the Milestones pursuant to Section 3(b)(iv) below (either, a
“Conversion Event”), all of the then outstanding principal and accrued interest owing under
this Note shall convert into that number of shares of Series E Preferred Stock of the Company
determined by dividing (i) the aggregate principal and accrued interest owing under this Note as of
the date of such Conversion Event by (ii) the Conversion Price (as defined below). Notwithstanding
the foregoing, by complying with Section 3(c)(iii) hereof, the Holder may at any time earlier elect
to convert this Note into that number of shares of Series E Preferred Stock determined by dividing
(i) the aggregate principal and accrued interest owing under this Note as of the date of the
Conversion Notice (as defined in Section 3(c)(iii)) by (ii) the Conversion Price (as defined
below).

          (b) Definitions. For purposes of this Note, the following terms shall have the
following meanings:

               (i) The term “Change of Control Transaction” shall mean (i) the acquisition of the
Company by another entity by means of any transaction or series of related transactions (including,
without limitation, any stock acquisition, reorganization, merger or consolidation but excluding
any merger effected exclusively for the purpose of changing the domicile of the Corporation) other
than a transaction or series of transactions in which the holders of the voting securities of the
Company outstanding immediately prior to such transaction or series of transactions continue to
retain (either by such voting securities remaining outstanding or by such voting securities being
converted into voting securities of the surviving entity), as a result of shares in the Company
held by such holders prior to such transaction, at least fifty percent (50%) of the total voting
power represented by the voting securities of the Company or such surviving entity outstanding
immediately after such transaction or series of transactions; or (ii) a sale, transfer, lease or
other conveyance of all or substantially all of the assets of the Corporation.

               (ii) The term “Conversion Price” shall mean US$3.60, subject to adjustment as set
forth in Section 5 below.

               (iii) The term “Initial Public Offering” shall mean the first sale of securities of
the Company pursuant to an effective registration statement under the Securities Act of 1933 (the
“Securities Act”) after or in connection with which the outstanding shares of Preferred
Stock of the

-2-

 

Company have been converted into Common Stock pursuant to the Company’s then existing Articles
of Incorporation or otherwise.

               (iv) Unless otherwise agreed in writing between the Company and the Holder, the term
“Milestones” shall mean satisfaction of the
following on or before April 30, 2008:

                    (1) The
Company will have released the  BioMark II Chip Loader to
manufacturing, as
demonstrated by a Manufacturing Release approval form duly signed-off. The approval is typically
characterized by having completed standard prototype development,
including building and testing of suitable prototypes;

                    (2)  The approved BioMark II Chip Loader (or a subsequent version thereof)
will be made generally available to customers,
as demonstrated by a Company product announcement;

                    (3) The Subsidiary will also have produced prototype BioMark II End Point Readers and made them available to at least three (3) customers;

                    (4) The Subsidiary will have at least maintained the number of
Research and Development Engineers hired to achieve Milestones in the First
Note and the Milestones in the Second Note; and

                    (5) The Company will be manufacturing the BioMark II Chip Loader through the
Subsidiary in Singapore, and the Company’s then-current financial and business
plan will provide for the manufacturing of the BioMark II End Point Readers
through the Subsidiary in Singapore; provided that if the Holder provides the Company with a
Milestone Response Notice pursuant to Section 3(c)(ii) below, then the Company shall
have 30 days following the Company’s receipt of the Milestone
Response Notice (the “Milestones Cure Period”) to cure any failure to
satisfy the Milestones identified by the Holder in the Milestone
Response Notice.

               (v) The term “Payment Date” shall mean [INSERT DATE TWO YEARS FROM DATE OF NOTE] or
such later date as may be mutually agreed in writing by Holder and the Company.

          (c) Conversion Procedure.

               (i) Conversion in Connection with Initial Public Offering. Upon the occurrence of an
Initial Public Offering as set forth in Section 3(a), this Note shall convert automatically without
further action on the part of the Holder hereof. Written notice shall be delivered to Holder at
the address last shown on the records of Company for Holder or given by Holder to Company for the
purpose of notice notifying Holder of the conversion effected or to be effected, specifying the
Conversion Price, the date on which such conversion occurred or is expected to occur and calling
upon such Holder to surrender to Company, in the manner and at the place designated, the Note.

               (ii) Conversion in Connection with Satisfaction of Milestones. If the Company
reasonably believes that it has satisfied all of the Milestones, it may send written notice thereof
(the “Milestone Completion Notice”) to the Holder (at the address last shown on the records
of the Company for the Holder or given by Holder to Company for the purpose of notice) specifying
the Conversion Price, the date on which the Company reasonably believes all of the Milestones were
satisfied (the “Notified Milestone Completion Date”), together with a duly executed
compliance certificate dated as of the Notified Milestone Completion Date substantially in the form
attached hereto as Exhibit A (the “Compliance Certificate”), and calling upon
Holder to surrender to the Company the Note. In the event that the Holder reasonably believes that
any of (i) the Milestones have not been satisfied or (ii) the representations and warranties made
in the Compliance Certificate are inaccurate in any material respect, the Holder may provide
written notice (the “Milestone 

-3-

 

Response Notice”) to the Company of such disagreement and/or inaccuracy within 30 days
of its receipt of the Milestone Completion Notice. The Milestone Response Notice shall specify in
reasonable detail the reasons for such disagreement and/or basis for belief that any of the
representations and warranties made in the Compliance Certificate are inaccurate and shall be
accompanied by reasonably available support documentation evidencing the basis for such
disagreement or belief. If the Holder shall fail to provide the Milestone Response Notice within
such time period, the Milestones shall be deemed satisfied as of the Notified Milestone Completion
Date and this Note shall be automatically converted as set forth in Section 3(a). If the Holder
shall have timely provided the Milestone Response Notice, the Company and the Holder shall in good
faith attempt to resolve their disagreement as to the satisfaction of the Milestones and/or the
accuracy of the representations and warranties in the Compliance Certificate. If the Company and
Holder are unable to resolve their disagreement within the Milestones Cure Period,  the Company may pay to the Holder the principal and interest owing under
this Note as of the Notified Milestone Completion Date (in which case the Note shall be cancelled
and surrendered) or may pursue any other remedy that may be available to it under applicable law.

               (iii) Elective Conversion. If the Holder wishes to voluntarily convert this Note as
set forth in Section 3(a) hereof prior to a Conversion Event, the Holder shall surrender this Note
to the Company and provide the Company with a written notice (the “Conversion Notice”) to
that effect.

               (iv) Certificate; Time of Conversion. Upon conversion of this Note, the Holder shall
promptly surrender this Note, duly endorsed, at the principal office of Company. At its expense,
the Company shall, as soon as practicable thereafter, issue and deliver to such Holder at such
principal office a certificate or certificates for the number of shares to which Holder shall be
entitled upon such conversion (bearing such legends as are required by this Note and the Note
Purchase Agreement and applicable state and federal securities laws in the opinion of counsel to
Company), together with any other securities and property to which Holder is entitled upon such
conversion under the terms of this Note, including a check payable to Holder for any cash amounts
payable as described in Section 3(d). Any such conversion of this Note shall be deemed to have
been made immediately prior to the Conversion Event as described in Section 3(a) (or in the case of
delivery of the Conversion Notice as set forth in Section 3(c)(iii), upon the Company’s receipt of
such Conversion Notice); provided, however, the Holder shall not be deemed a record
holder of such shares or a purchaser of such shares until the Holder has delivered the Note for
conversion. On and after such date, the Holder shall be treated as a purchaser of such shares
under the Note Purchase Agreement and shall be bound by the applicable terms of this Note and Note
Purchase Agreement.

          (d) Fractional Shares. No fractional shares will be issued upon any conversion of
this Note. In lieu of any fractional share to which the Holder would otherwise be entitled, the
Company will pay to the Holder in cash that amount of the unconverted principal and interest
balance of this Note.

          (e) Reservation of Shares. The Company will at all times reserve and keep available
out of its authorized but unissued shares or shares held in treasury, sufficient shares of Series E
Preferred Stock or other securities to permit the full conversion of the outstanding principal

-4-

 

and interest of this Note pursuant to the terms of this Note. In the event the Company shall
have insufficient shares of Series E Preferred Stock or other securities to permit the full
conversion of the outstanding principal and accrued interest of this Note pursuant to the terms
hereof, the Company hereby covenants and agrees that the Company shall use its commercially
reasonable efforts to seek board and shareholder approval of an amendment to the Company’s Articles
of Incorporation in order to authorize an increase in the number of authorized shares of Series E
Preferred Stock or other securities of the Company in a sufficient amount so that the aggregate
number of shares of Series E Preferred Stock or other securities issuable upon conversion of this
Note will then be authorized and available for issuance.

     4. Change of Control Transaction. The Company shall provide the Holder with 15 days
written notice of the closing of a Change of Control Transaction, specifying in reasonable detail
the terms of such Change of Control Transaction. If the Holder shall not have voluntarily elected
to convert this Note as set forth in Section 3(c)(iii) within such 15 day period, the Company may
prepay the entire principal amount and interest owing under this Note as of the date of such
prepayment. The Holder shall thereafter promptly return the Note to the Company for cancellation.

     5. Change in Series E Preferred Stock.

          (a) Split, Subdivision or Combination of Series E Preferred Stock. In the event the
Company should at any time or from time to time after the date of issuance hereof split or
subdivide the outstanding shares of its Series E Preferred Stock (or other securities issuable upon
conversion of this Note) or issue additional shares of Series E Preferred Stock (or other
securities issuable upon conversion of this Note) to the holders thereof as a dividend or make any
other distribution payable in additional shares of Series E Preferred Stock (or other securities
issuable upon conversion of this Note) to the holders thereof without payment of any consideration
by such holder for the additional shares of Series E Preferred Stock (or such other securities),
then, as of the date of such dividend, distribution, split or subdivision, the Conversion Price of
this Note shall be appropriately decreased so that the number of shares of Series E Preferred Stock
or other securities issuable upon conversion of this Note shall be increased in proportion to such
increase of outstanding shares of Series E Preferred Stock or other securities issuable upon
conversion of this Note, as applicable. If the number of shares of Series E Preferred Stock (or
other securities issuable upon conversion of this Note) outstanding at any time after the date
hereof is decreased by a combination of the outstanding shares of Series E Preferred Stock (or
other securities issuable upon conversion of this Note), then, following the record date of such
combination, the Conversion Price for this Note shall be appropriately increased so that the number
of shares of Series E Preferred Stock or other securities issuable on conversion hereof shall be
decreased in proportion to such decrease in outstanding shares of Series E Preferred Stock or other
securities issuable upon conversion of this Note, as applicable.

          (b) Reclassification etc. In case of any reclassification, capital reorganization, or
change in the Series E Preferred Stock (or other securities issuable upon conversion of this Note)
of the Company, including conversion of such shares pursuant to the Company’s Articles of
Incorporation then in effect (other than as a result of a split, subdivision, combination, or stock
dividend provided for in Section 5(a) above), then appropriate adjustment shall be made to the
Conversion Price and kind of securities or other property issuable upon conversion of this Note so

-5-

 

that this Note shall be convertible upon the terms set forth herein into the kind and amount
of shares of stock and other securities and property receivable in connection with such
reclassification, reorganization, or change by a holder of the same number of shares of Series E
Preferred Stock or other securities as are issuable on conversion of this Note.

          (c) Merger or Consolidation. Other than a Change of Control Transaction in connection
with which this Note has been converted or prepaid, if at any time there shall be an acquisition of
the Company by merger, consolidation or otherwise where the Company is not the surviving
corporation or as a result of which all of the outstanding capital stock of the Company is
exchanged for capital stock of another corporation, then, as a part of such acquisition, the
Conversion Price and kind of securities issuable upon conversion hereof shall be appropriately
adjusted so that the Holder shall receive upon conversion of this Note, the number of shares of
stock or other securities or property of the surviving or successor corporation resulting from such
acquisition (or the corporation the capital stock of which is issued in exchange for the capital
stock of the Company), to which a holder of the securities issuable upon conversion of this Note
would have been entitled in such acquisition if this Note had been converted immediately before
such acquisition.

     6. Payment Due Date. If not previously converted into shares of Series E Preferred
Stock pursuant to Section 3 hereof and if not sooner prepaid by the Company pursuant to Section 2
hereof or accelerated and declared due and owing by the Holder pursuant to Section 7 hereof, the
principal amount and any accrued interest due thereon then outstanding under this Note will become
due and payable on the Payment Date.

     7. Default. The Company shall be deemed to be in default under this Note in the event
(i) the Company shall fail to materially perform any covenant or agreement of the Company contained
in Section 4 of the Note Purchase Agreement for a period of 30 days after written notice of such
failure from Holder; (ii) the Company shall have failed to make payment of principal or interest
due on the Note when such principal and interest becomes due; or (iii) the Company shall commence,
whether voluntarily or involuntarily a case or other proceeding seeking liquidation, reorganization
or other relief with respect to itself or its debts under any bankruptcy, insolvency or other
similar law now or hereafter in effect or consent to any such relief or to the appointment of or
taking possession of its property by any official in an involuntary case or other proceeding
commenced against it. In the case of an event of default, the Holder may, by written notice to the
Company, declare the unpaid principal amount of this Note, all interest accrued and unpaid hereon,
and all other amounts payable hereunder to be immediately due and payable, without presentment,
demand, protest, or further notice of any kind, as well as enforce all other rights and remedies
available to the Holder under applicable law.

     8. Notices. Any notice, request, other communication, or payment required or
permitted hereunder shall be in writing and shall be deemed to have been duly given upon delivery,
if delivered personally by facsimile, or by recognized overnight courier service, or five days
after deposit, if deposited in the United States mail for mailing by registered or certified mail,
postage prepaid, and addressed as follows:

-6-

 

	 	 	 	 	 
	 

	 	If to Holder:
	 	Biomedical Sciences Investment Fund Pte Ltd
	 

	 	 	 	20 Biopolis Way
	 

	 	 	 	#09-01 Centros
	 

	 	 	 	Singapore 138668 
	 

	 	 	 	Attention: Chu Swee Yeok
	 

	 	 	 	Tel: 65-6336-2288 
	 

	 	 	 	Fax: 65-6334-8478 
	 
	 	 	 	 
	 

	 	If to the Company:
	 	Fluidigm Corporation
	 

	 	 	 	7100 Shoreline Court
	 

	 	 	 	South San Francisco, California 94080 
	 

	 	 	 	Attention: Chief Executive Officer
	 

	 	 	 	Tel: (650) 266-6000 
	 

	 	 	 	Fax: (650) 871-7195 
	 
	 	 	 	 
	 

	 	 	 	with a copy to:
	 
	 	 	 	 
	 

	 	 	 	Wilson Sonsini Goodrich & Rosati, P.C.
	 

	 	 	 	650 Page Mill Road
	 

	 	 	 	Palo Alto, California 94304-1050 
	 

	 	 	 	Attention: Ken Clark and Robert Kornegay
	 

	 	 	 	Tel: (650) 493-9300 
	 

	 	 	 	Fax: (650) 493-6811 

     Each of the above addressees may change its address or facsimile number for purposes of this
paragraph by giving to the other addressee notice of such new address in conformity with this
paragraph.

     9. Amendments. This Note may be amended and any provision hereof waived with the
consent of the Company and the Holder.

     10. No Rights as Shareholder. Nothing in this Note shall be construed as conferring
upon the Holder or any other person the right to vote or to consent or to receive notice as a
shareholder in respect of meetings of shareholders for the election of directors of the Company or
any other matters or any rights whatsoever as a shareholder of the Company until, and only to the
extent that, this Note shall have been converted.

     11. Successors and Assigns. Subject to the restrictions on transfer described in
Section 12 and in the Note Purchase Agreement, the rights and obligations of the Company and
Investor shall be binding upon and benefit the successors, assigns, heirs, administrators and
transferees of the parties.

     12. Transfer of Note and Securities Issuable on Conversion Hereof. Prior to the
conversion of this Note, this Note (or the underlying securities issuable upon conversion hereof)
may not be sold, assigned, transferred, pledged or otherwise disposed of by the Holder, in whole or
in part, without the prior written consent of the Company. With respect to any sale, assignment,

-7-

 

transfer, pledge or other disposition of the securities into which this Note may be converted
after conversion of this Note, the Holder may only transfer such securities pursuant to, and on the
conditions set forth in that certain Eighth Amended and Restated Investor Rights Agreement dated
June 13, 2006 between the Company and certain investors in the Company (including Holder), as may
be amended from time to time (the “Rights Agreement”). The Holder shall cause any proposed
purchaser, assignee, transferee or pledgee of such securities to agree in writing to take and hold
such securities subject to and upon the conditions specified in this Note, the Note Purchase
Agreement, and the Rights Agreement, including, without limitation, Sections 1.2, 1.3, 1.4, and
1.14 of the Rights Agreement.

     13. Highest Lawful Rate. Anything herein to the contrary notwithstanding, if during
any period for which interest is computed hereunder, the amount of interest computed on the basis
provided for in this Note, together will all fees, charges, and other payments or rights which are
treated as interest under applicable law, as provided for herein or in any other document executed
in connection herewith, would exceed the amount of such interest computed on the basis of the
Highest Lawful Rate, the Company shall not be obligated to pay, and the Holder shall not be
entitled to charge, collect, receive, reserve, or take, interest in excess of the Highest Lawful
Rate, and during any such period the interest payable hereunder shall be computed on the basis of
the Highest Lawful Rate. As used herein, “Highest Lawful Rate” means the maximum
non-usurious rate of interest, as in effect from time to time, which may be charged, contracted
for, reserved, received, or collected by the Holder in connection with this Note under applicable
law. In accordance with this section, any amounts received in excess of the Highest Lawful Rate
shall be applied towards the prepayment of principal then outstanding.

     14. Miscellaneous. The Company agrees to pay on demand all of the losses, costs, and
expenses (including, without limitation, attorneys’ fees and disbursements) which the Holder incurs
in connection with enforcement of this Note, or the protection or preservation of the Holder’s
rights under this Note, whether by judicial proceeding or otherwise. Such costs and expenses
include, without limitation, those incurred in connection with any workout or refinancing, or any
bankruptcy, insolvency, liquidation, or similar proceedings. The Company hereby waives
presentment, demand for performance, notice of non-performance, protest, notice of protest, and
notice of dishonor. No delay on the part of the Holder in exercising any right hereunder shall
operate as a waiver of such right or any other right. This Note is being delivered in and shall be
construed in accordance with the laws of the State of California without regard to the conflicts of
law provisions thereof. Any reference to “dollars” or “$” in this Note shall refer to the lawful
money of the United States of America.

-8-

 

     IN WITNESS WHEREOF, the Company has caused this Convertible Promissory Note to be executed by
its officer thereunto duly authorized as of the date first above written.

	 	 	 	 	 	 	 
	Dated: ______ ___, 20___	 	Fluidigm Corporation

a California corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 
	 	 
	 
	 

	 	Name:
	 	 
	 	 
	 
	 

	 	Title:
	 	 
	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	Acknowledged and Agreed:
	 	 	 	 	 	 
	 	 	Holder	 	 
	 
	 	 	Biomedical Sciences Investment Fund Pte Ltd	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 
	 	 
	 
	 

	 	Name:
	 	 
	 	 
	 
	 

	 	Title:
	 	 
	 	 
	 

	 	 	 	 

	 	 

[Convertible Promissory Note Signature Page]

 

 

 

EXHIBIT A

FORM OF COMPLIANCE CERTIFICATE

 

 

EXHIBIT D

FLUIDIGM CORPORATION

COMPLIANCE CERTIFICATE

(Issuance of First Note)

     Fluidigm Corporation, a California corporation (the “Company”), hereby represents and
warrants to Biomedical Sciences Investment Fund Pte Ltd (the “Purchaser”) as follows,
effective as August 7, 2006. This Compliance Certificate is delivered in connection with the sale
and issuance to the Purchaser of the Company’s Convertible Promissory Note dated as of August 7,
2006 in the principal amount of $5,000,000.00 (the “Convertible Note”) and issued pursuant
to the Convertible Note Purchase Agreement dated as of August 7, 2006, (the “Purchase
Agreement”).

     1. The Company is a corporation duly organized, validly existing, and in good standing under
the laws of the State of California and has all requisite corporate power and authority to carry on
its business as currently conducted. The Company is duly qualified to transact business and is in
good standing in each jurisdiction in which the failure to so qualify would have a material adverse
effect on its business (as now conducted), properties, or financial condition.

     2. The Company has all requisite legal and corporate power and authority to (i) execute and
deliver this Compliance Certificate; (ii) sell and issue the Convertible Note; (iii) issue the
shares of Series E Preferred Stock issuable upon conversion of the Convertible Note (the
“Series E Shares”) and the Common Stock issuable upon conversion of such Series E Shares
(the “Common Conversion Shares”); and (iv) carry out and perform its obligations under the
terms of this Compliance Certificate, the Convertible Note, and the Purchase Agreement.

     3. All corporate action on the part of the Company, its officers, directors, and shareholders
necessary for the authorization, execution, and delivery of this Compliance Certificate, the
performance of all obligations of the Company under this Compliance Certificate, the Convertible
Note, and the Purchase Agreement, the sale and delivery of the Convertible Note, and the
authorization and issuance of the Series E Shares and the Common Conversion Shares has been taken.
Each of the Eighth Amended and Restated Investor Rights Agreement dated as of June 13, 2006 among
the Company and certain of its shareholders (as amended to date, the “Rights Agreement”)
and the Second Amended and Restated Voting Agreement dated as of August 16, 2005 (as amended to
date, the “Voting Agreement”) remain effective, subject only to such amendments as to which
the Purchaser has been previously notified in writing and unless earlier terminated in accordance
with their terms (for which the Company has also provided the Purchaser notice in writing). Each
of this Compliance Certificate, the Purchase Agreement, the Convertible Note and to the extent not
terminated in accordance with its terms, each of the Rights Agreement and the Voting Agreement,
constitute valid and legally binding obligations of the Company, enforceable against the Company in
accordance with their terms, subject to (i) judicial principles limiting the availability of
specific performance, injunctive relief, and other equitable remedies; (ii) bankruptcy, insolvency,
reorganization, moratorium and other similar laws now or hereafter in effect generally relating to
or affecting creditors’ rights; and (iii) limitations on the enforceability of the indemnification
provisions of the Rights Agreement.

     4. The Convertible Note, when issued, sold and delivered in accordance with the terms of the
Purchase Agreement will be free of restrictions on transfer other than restrictions on transfer
under the Purchase Agreement, the Convertible Note, the Rights Agreement and the Voting Agreement
and under applicable state and federal securities laws. The Series E Shares, when issued upon
conversion of the Convertible Note, in accordance with the Convertible Note and the Purchase
Agreement, will be duly and

 

 

validly issued, fully paid, and nonassessable, and will be free of restrictions on transfer
other than restrictions on transfer under the Purchase Agreement, the Rights Agreement, and the
Voting Agreement and under applicable state and federal securities laws. The Common Conversion
Shares, when issued upon conversion of the Series E Shares in accordance with the terms of the
Company’s Articles of Incorporation as currently in effect, will be duly and validly issued, fully
paid, and nonassessable, and will be free of restrictions on transfer other than restrictions on
transfer under the Purchase Agreement, the Rights Agreement, and the Voting Agreement, and under
applicable state and federal securities laws. The Series E Shares and the Common Conversion Shares
may, subject to the continued accuracy of the representations and warranties provided by Purchaser
pursuant to the Purchase Agreement, be issued without any registration or qualification under state
and federal securities laws as such laws are currently in effect.

     5. No consent, approval, order or authorization of, or registration, qualification,
designation, declaration or filing with, any federal, state or local governmental authority is
required in connection with the offer and sale of the Convertible Note or the issuance of the
Series E Shares or the Common Conversion Shares or the consummation of any other transaction
contemplated by the Convertible Note or the Purchase Agreement, except for filings required
pursuant to applicable federal and state securities laws and blue sky laws, which filings the
Company covenants to complete within the required statutory period.

     6. The Company is not in violation or default of any provision of its Articles of
Incorporation or Bylaws, each as amended and in effect as of the date hereof. The Company is not
in violation or default of any provision of any instrument, mortgage, deed of trust, loan,
contract, commitment, judgment, decree, order, or obligation to which it is a party or by which it
or any of its properties or assets is bound or, to the best of its knowledge, of any provision of
any federal, state, or local statute, rule, or governmental regulation, except to the extent such
violations or defaults would not reasonably be expected, individually or in the aggregate, to have
a material adverse effect on the Company’s business (as now conducted), properties, or financial
condition or an adverse effect on the Company’s ability to consummate the transactions contemplated
by this Compliance Certificate, the Convertible Note, and the Purchase Agreement. None of the
execution, delivery, and performance of and compliance with this Compliance Certificate, the
continued performance by the Company under the Purchase Agreement, the Rights Agreement (unless
terminated prior to the date hereof) and the Voting Agreement (unless terminated prior to the date
hereof), the sale and issuance of the Convertible Note, or the issuance of the Series E Shares or
the Common Conversion Shares will (i) result in any violation, be in conflict with, or constitute,
with or without the passage of time, or giving of notice, a default under any such provision,
license, indenture, instrument, mortgage, deed of trust, loan, contract, commitment, judgment,
decree, order, or obligation, except where such violation or conflict would not reasonably be
expected to have a material adverse effect on the Company’s business (as now conducted),
properties, or financial condition or an adverse effect on the Company’s ability to consummate the
transactions contemplated by this Compliance Certificate, the Convertible Note, and the Purchase
Agreement; (ii) require any consent or waiver under any such provision, license, indenture,
instrument, mortgage, deed of trust, loan, contract, commitment, judgment, decree, order, or
obligation (other than such consents or waivers that have been obtained or such consents or waivers
that if not obtained would not reasonably be expected to have a material adverse effect on the
Company’s business (as now conducted), properties, or financial condition or an adverse effect on
the Company’s ability to consummate the transactions contemplated by this Compliance Certificate,
the Convertible Note, and the Purchase Agreement; or (iii) result in the creation of any mortgage,
pledge, lien, encumbrance, or charge upon any of the properties or assets of the Company pursuant
to any such provision, license, indenture, instrument, mortgage, deed of trust, loan, contract,
commitment, judgment, decree, order, or obligation (other than such mortgages, pledges, liens,
encumbrances, or charges as would not reasonably be expected to have a material adverse effect on
the Company’s business (as now conducted), properties, or financial condition or an adverse effect
on the Company’s ability to consummate the transactions contemplated by this Compliance
Certificate, the Convertible Note, and the Purchase Agreement).

-2-

 

     7. The representations and warranties of the Company contained in Section 2 of the Purchase
Agreement were true in all material respects on and as of the Closing (as defined in the Purchase
Agreement) of the sale of the First Note (as defined in the Purchase
Agreement) on August 7, 2006.

     8. This Compliance Certificate shall be governed by the laws of the State of California,
without reference to the conflicts of law provisions thereof.

     Executed
as of August 7, 2006.

	 	 	 	 	 
	 	FLUIDIGM CORPORATION

 	 
	 	By:  	/s/ Gajus Worthington
 	 
	 	Print Name:  	Gajus Worthington 	 
	 	Title:  	   CEO 	 
	 

[Signature Page to Compliance Certificate]

-3-

 

EXHIBIT E

INVESTMENT REPRESENTATION STATEMENT

	 	 	 
	PURCHASER:

	 	Biomedical Sciences Investment Fund Pte Ltd (the “Purchaser”)
	 
	 	 
	COMPANY:

	 	Fluidigm Corporation (the “Company”)
	 
	 	 
	SECURITY:

	 	Convertible Promissory Note (US$5,000,000 in principal amount) (the “Additional Note”) the principal and
accrued interest on which are convertible into shares of Series E Preferred Stock of the Company
	 
	 	 
	DATE::

	 	August 7, 2006

     This Investment Representation Statement is entered into in connection with the sale by the
Company of an Additional Note to Purchaser as set forth in that certain Convertible Promissory Note
Purchase Agreement between the Company and Purchaser dated August 7, 2006 (the “Note Purchase
Agreement”). Capitalized terms used but not otherwise defined herein have the meanings given
to such terms in the Note Purchase Agreement. In connection with the purchase of the Second Note
and the securities issued or issuable upon conversion thereof (the “Conversion
Securities”), the undersigned Purchaser represents to the Company the following:

     1. Experience. Purchaser is experienced in evaluating start-up companies such as the
Company, is able to evaluate and represent its own interests in transactions such as the purchase
of the Additional Note and the Conversion Securities, has such knowledge and experience in
financial and business matters such that Purchaser is capable of evaluating the merits and risks of
Purchaser’s investment in the Company, and has the ability to bear the economic risks of its
investment.

     2. Investment. Purchaser is acquiring and will acquire, the Additional Note and the
Conversion Securities, for investment for Purchaser’s own account and not with the view to, or for
resale in connection with, any distribution thereof. Purchaser understands that the Additional
Note and the Conversion Securities have not been registered under the Securities Act of 1933, as
amended (the “Securities Act”) by reason of a specific exemption from the registration
provisions of the Securities Act, which depends upon, among other things, the bona fide nature of
Purchaser’s investment intent as expressed herein. Purchaser further represents that it does not
have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant
participation to any third person with respect to any of the Additional Note or Conversion
Securities other than a transfer not involving a change of beneficial ownership. Purchaser
understands and acknowledges that the offering of the Additional Note and Conversion Securities
will not be registered under the Securities Act on the ground that the sale provided for is exempt
from the registration requirements of the Securities Act.

     3. Rule 144. Purchaser acknowledges that the Additional Note and Conversion
Securities must be held indefinitely unless subsequently registered under the Securities Act or an
exemption from such registration is available. Purchaser is aware of the provisions of Rule 144
promulgated under the Securities Act, which permit limited resale of shares purchased in a private
placement subject to the satisfaction of certain conditions. Purchaser covenants that, in the
absence of an effective registration statement covering the securities in question, Purchaser will
sell, transfer,

 

 

or otherwise dispose of the Additional Note and the Conversion Securities only in accordance
with applicable securities laws and in a manner consistent with Purchaser’s representations and
covenants set forth herein and in the Note Purchase Agreement between Holder and the Company and
the Additional Note. In connection therewith, Purchaser acknowledges that the Company will make a
notation on its stock books regarding the restrictions on transfer set forth herein, in the Note
Purchase Agreement and the Additional Note and will transfer securities on the books of the Company
only to the extent not inconsistent therewith.

     4. No Public Market. Purchaser understands that no public market now exists for any
of the securities issued by the Company, and that the Company has made no assurances that a public
market will ever exist for the Second Note or the Conversion Securities.

     5. Access to Data. Purchaser has received and reviewed information about the Company
and has had an opportunity to discuss the Company’s business, management and financial affairs with
its management and to review the Company’s facilities.

     6. Authorization. This Investment Representation Statement when executed and
delivered by the Purchaser will constitute a valid and legally binding obligation of the Purchaser,
enforceable against the Purchaser in accordance with its terms, subject to: (i) judicial principles
respecting election of remedies or limiting the availability of specific performance, injunctive
relief, and other equitable remedies; and (ii) bankruptcy, insolvency, reorganization, moratorium
or other similar laws now or hereafter in effect generally relating to or affecting creditors’
rights.

     7. Accredited Investor. Purchaser acknowledges that it is an “accredited investor” as
defined in Rule 501 of Regulation D as promulgated by the United States Securities and Exchange
Commission (the “Commission”) under the Securities Act and shall submit to the Company such
further assurances of such status as may be reasonably requested by the Company. The principal
address of such Purchaser is as set forth on the signature page hereto.

     8. Tax Advisors. Purchaser has reviewed with its own tax advisors the tax
consequences of the purchase of the Additional Note and the Conversion Securities. Purchaser is
relying solely on such advisors and not on any statements or representations of the Company or any
of its agents and understands that Purchaser (and not the Company) shall be responsible for the
Purchaser’s own tax liability that may arise as a result of the Purchase of the Additional Note and
the Conversion Securities.

     9. Brokers or Finders. The Company has not incurred and will not incur, directly or
indirectly, as a result of any action taken by such Purchaser, any liability for brokerage or
finders’ fees or agents’ commissions or any similar changes in connection with the Note Purchase
Agreement or the Additional Note.

     10. Non-United States Persons. Purchaser hereby represents that Purchaser is
satisfied as to the full observance of the laws of Purchaser’s jurisdiction in connection with any
invitation to subscribe for the Additional Note and the Conversion Securities or any use of the
Note Purchase Agreement, including (i) the legal requirements within Purchaser’s jurisdiction for
the purchase of the Additional Note and the Conversion Securities, (ii) any foreign exchange
restrictions applicable

-2-

 

to such purchase, (iii) any governmental or other consents that may need to be obtained and
(iv) the income tax and other tax consequences, if any, that may be relevant to the purchase,
holding, redemption, sale or transfer of such securities. Purchaser’s subscription and payment
for, and Purchaser’s continued beneficial ownership of, the Additional Note and the Conversion
Securities will not violate any applicable securities or other laws of Purchaser’s jurisdiction.

     11. Other Agreements. Purchaser acknowledges and agrees that Purchaser and the
Additional Note and the Conversion Securities are subject to the Additional Note, and Investor
Rights Agreement and the restrictions on transfer set forth therein and in the Note Purchase
Agreement.

[Remainder of Page Left Blank Intentionally]

-3-

 

     IN WITNESS WHEREOF, the Purchaser has caused this Investment Representation Statement to be
executed by its officer thereunto duly authorized as of the date first above written.

	 	 	 	 	 
	 	PURCHASER:

Biomedical Sciences Investment Fund Pte Ltd

 	 
	 	By:  	/s/ Chu Swee Yeok
 	 
	 	Name:  	Chu Swee Yeok 	 
	 	Title:  	Director 	 
	 

 

 

EXHIBIT
F

LEGAL OPINION

August __, 2006

Biomedical Sciences Investment Fund Pte. Ltd.

20 Biopolis Way

#09-01 Centros

Singapore 138668

     Re: Convertible Note Purchase Agreement

Ladies and Gentlemen:

     Reference is made to the Convertible Note Purchase Agreement dated as of August ___, 2006 (the
“Agreement”) by and among Fluidigm Corporation, a California corporation (the “Company”), and
Biomedical Sciences Investment Fund Pte. Ltd. (the “Purchaser”), which provides for the sale and
issuance by the Company to the Purchaser of the First Note, the Second Note and the Third Note
(each as defined in the Agreement). This opinion is rendered to the Purchaser pursuant to Section
4.9 of the Agreement, and all terms used herein have the meanings defined for them in the Agreement
and/or the First Note, unless otherwise defined herein. Reference in this opinion to the Agreement
excludes any schedule or substantive agreement attached as an exhibit to the Agreement, unless
otherwise indicated herein.

     We have acted as counsel for the Company in connection with the negotiation of the Agreement
and the issuance of the First Note. As such counsel, we have made such legal and factual
examinations and inquiries as we have deemed advisable or necessary for the purpose of rendering
this opinion. In addition, we have examined originals or copies of such corporate records of the
Company, certificates of public officials and such other documents which we consider necessary or
advisable for the purpose of rendering this opinion. In such examination we have assumed the
genuineness of all signatures on original documents, the authenticity and completeness of all
documents submitted to us as originals, the conformity to original documents of all copies
submitted to us and the due execution and delivery of all documents (except as to due execution and
delivery by the Company) where due execution and delivery are a prerequisite to the effectiveness
thereof.

     In our examination of the documents identified above and for purposes of this opinion, we have
relied solely upon and assumed, and express no opinion as to, the current accuracy and completeness
of (i) the information obtained from public officials; (ii) the representations and warranties of
the Company and the Purchaser as to factual and other matters set forth in the
Agreement and in any certificate delivered pursuant thereto or any ancillary agreement

 

 

Biomedical Sciences Investment Fund Pte. Ltd.

August ___, 2006

Page 2

referenced therein; and (iii) the representations and warranties as to factual and other matters
made by representatives of the Company to us, including without limitation, those set forth in a
management certificate executed by an executive of the Company.

     As used in this opinion, the expression “to our knowledge,” “known to us” or similar language
with reference to matters of fact means that, after an examination of documents made available to
us by the Company, and after inquiries of officers of the Company, but without any further
independent factual investigation, we find no reason to believe that the opinions expressed herein
are factually incorrect. Further, the expression “to our knowledge,” “known to us” or similar
language with reference to matters of fact refers to the current actual knowledge of the attorneys
of this firm who provided material legal representation to the Company in connection with the
Agreement and the transactions contemplated thereby. Except to the extent expressly set forth
herein or as we otherwise believe to be necessary to our opinion, we have not undertaken any
independent investigation to determine the existence or absence of any fact, and no inference as to
our knowledge of the existence or absence of any fact should be drawn from our representation of
the Company or the rendering of the opinions set forth below.

     For purposes of this opinion, we are assuming that the Purchaser has all requisite power and
authority, and has taken any and all necessary corporate or partnership action, to execute and
deliver the Agreement and the First Note and to effect any and all transactions related to or
contemplated thereby. In addition, we are assuming that the representations and warranties made by
the Purchaser in the Agreement and pursuant thereto are true and correct. We are also assuming
that the Purchaser has purchased the First Note (and the Note Shares issuable upon conversion
thereof) for value, in good faith and without notice of any adverse claims within the meaning of
the California Uniform Commercial Code.

     We are members of the Bar of the State of California, and we express no opinion as to any
matter relating to the laws of any jurisdiction other than the federal laws of the United States of
America and the laws of the State of California.

     The opinions hereinafter expressed are subject to the following additional qualifications:

          (a) We express no opinion as to the effect of applicable bankruptcy, insolvency,
reorganization, moratorium or other similar federal or state laws affecting the rights of
creditors.

          (b) We express no opinion as to the effect or availability of rules of law governing specific
performance, injunctive relief or other equitable remedies (regardless of whether any such remedy
is considered in a proceeding at law or in equity).

 

 

Biomedical Sciences Investment Fund Pte. Ltd.

August ___, 2006

Page 3

          (c) This opinion is qualified by the limitations imposed by statutes and principles of law and
equity that provide that certain covenants and provisions of agreements are unenforceable where
such covenants or provisions are unconscionable or contrary to public policy or where enforcement
of such covenants or provisions under the circumstances would violate the enforcing party’s implied
covenant of good faith and fair dealing.

          (d) We express no opinion regarding any of (i) the rights or remedies available to any party
for violations or breaches of any provisions which are immaterial or the enforcement of which would
be unreasonable under the then-existing circumstances; (ii) the rights or remedies available to any
party for material violations or breaches which are the proximate result of actions taken by any
party to the Agreement or the First Note other than the party against whom enforcement is sought,
which actions such other party is not entitled to take pursuant to the Agreement or the First Note
or which otherwise violate applicable laws; (iii) the rights or remedies available to any party
which takes discretionary action which is arbitrary, unreasonable or capricious, or is not taken in
good faith or in a commercially reasonable manner, whether or not the Agreement or the First Note
permits such action; (iv) the effect of the exercise of judicial discretion, whether in a
proceeding in equity or at law; (v) the enforceability of any provision deemed to be
“unconscionable” within the meaning of Section 1670.5 of the California Civil Code; (vi) the
enforceability of any provision authorizing the exercise of any remedy without reasonable notice
and opportunity to cure; or (vii) the effect of any provision of the Agreement or the First Note
purporting to give the Purchaser the right to make any conclusive determination in its sole
discretion.

          (e) We express no opinion as to the legality, validity, binding nature or enforceability of
(i) any provisions in the Agreement or the First Note providing for the payment or reimbursement of
costs or expenses or indemnifying a party, to the extent such provisions may be held unenforceable
as contrary to public policy; (ii) any provision of the Agreement or the First Note insofar as it
provides for the payment or reimbursement of costs and expenses or indemnification for claims,
losses or liabilities in excess of a reasonable amount determined by any court or other tribunal;
(iii) any provisions regarding the Purchaser’s (or its agent’s) ability to collect attorneys’ fees
and costs in an action involving the Agreement or the First Note, if the
Purchaser (or such agent) is not the prevailing party in such action (we call your attention
to the effect of Section 1717 of the California Civil Code, which provides that, where a contract
permits one party thereto to recover attorneys’ fees, the prevailing party in any action to enforce
any provision of the contract shall be entitled to recover its reasonable attorneys’ fees); (iv)
any provisions of the Agreement or the First Note imposing penalties or forfeitures, late payment
charges or any increase in interest rate, upon delinquency in payment or the occurrence of a
default to the extent they constitute a penalty or forfeiture or are otherwise contrary to public
policy; (v) any rights of set-off; (vi) any provision of the Agreement or the First Note to the

 

 

Biomedical Sciences Investment Fund Pte. Ltd.

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Page 4

effect that a statement, certificate, determination or record shall be deemed conclusive absent
manifest error (or similar effect), including, without limitation, that any such statement,
certificate, determination or record shall be prima facie evidence of a fact; or (vii) any
provision of the Agreement or the First Note which provides that notice not actually received may
be binding on any party.

          (f) We express no opinion with respect to the legality, validity, binding nature or
enforceability of (i) any vague or broadly stated waiver, including without limitation, the waivers
of diligence, presentment, demand, protest or notice; (ii) any waivers or consents (whether or not
characterized as a waiver or consent in the Agreement or the First Note) relating to the rights of
the Purchaser or duties owing to them existing as a matter of law, including, without limitation,
waivers of the benefits of statutory or constitutional provisions, to the extent such waivers or
consents are found by courts to be against public policy or which are ineffective pursuant to
California statutes and judicial decisions; (iii) any waivers of any statute of limitations; or
(iv) covenants to the extent they are to be enforced as independent requirements as distinguished
from conditions that may trigger an event of default.

          (g) We express no opinion with respect to the legality, validity, binding nature or
enforceability of any provision of the Agreement or the First Note to the effect that rights or
remedies are not exclusive, that every right or remedy is cumulative and may be exercised in
addition to any other right or remedy, that the election of some particular remedy or remedies does
not preclude recourse to one or more other remedies or that failure to exercise or delay in
exercising rights or remedies will not operate as a waiver of any such right or remedy.

          (h) We note the obligations of the Company under the Agreement and the First Note relating to
the Business Plan and the Milestones and the effects of deemed satisfaction of the Milestones on
the conversion of the First Note. We express no opinion as to the enforceability of these
provisions to the extent that they may be deemed vague or overly broad.

          (i) We express no opinion as to any provision of the Agreement or the First Note requiring
written amendments or waivers of such documents insofar as it suggests that oral or other
modifications, amendments or waivers could not be effectively agreed upon by the parties or that
the doctrine of promissory estoppel might not apply.

          (j) We express no opinion as to compliance with the anti-fraud provisions of applicable
securities laws.

          (k) We express no opinion as to the enforceability of any indemnification or contribution
provision to the extent the provisions thereof may be subject to limitations of public policy and
the effect of applicable statutes and judicial decisions.

 

 

Biomedical Sciences Investment Fund Pte. Ltd.

August ___, 2006

Page 5

          (l) We express no opinion as to the enforceability of choice of law provisions, waivers of
jury trial or provisions relating to venue or jurisdiction.

          (m) We have made no inquiry into, and express no opinion with respect to, any federal or state
statute, rule, or regulation relating to any tax, antitrust, land use, safety, environmental,
hazardous material, patent, copyright, trademark or trade name matter, as to the statutes,
regulations, treaties or common laws of any other nation (other than the United States), state or
jurisdiction (other than the State of California), or the effect on the transactions contemplated
in the Agreement or the First Note of noncompliance under any such statues, regulations, treaties,
or common laws. Without limiting the foregoing, we express no opinion as to the effect of, or
compliance with, the Investment Advisors Act of 1940, as amended, the Employee Retirement Income
Security Act of 1974, as amended, or the California Finance Lenders Law. We further disclaim any
opinion as to any statute, rule, regulation, ordinance, order, or other promulgation of any
regional or local governmental body or as to any related judicial or administrative opinion.

          (n) Our opinions relate solely to the express written provisions of the Agreement and the
First Note, and we express no opinion as to any other oral or written agreements or understandings
between the Company and the Purchaser.

          (o) Our opinion set forth in paragraph 1 below is based solely on the certificates of certain
state authorities and filing officers referenced above as to the legal existence and corporate good
standing of the Company in the State of California.

     Based upon and subject to the foregoing, and except as set forth in the Schedule of Exceptions
to the Agreement, we are of the opinion that:

     1. The Company is a corporation duly incorporated and validly existing under, and by virtue
of, the laws of the State of California and is in good standing under such laws.

     2. The Company has all requisite legal and corporate power to execute and deliver the
Agreement and the First Note, to sell and issue the First Note under the Agreement, to issue the
Note Shares issuable upon conversion of the First Note and the Common Stock issuable upon
conversion of the Note Shares, and to carry out and perform its obligations under the terms of
the Agreement and the First Note.

     3. All corporate action on the part of the Company, its directors and shareholders necessary
for the authorization, execution and delivery of the Agreement and the First Note by the Company,
the authorization, sale, issuance and delivery of the First Note (and the Note Shares issuable upon
conversion of the First Note and the Common Stock issuable upon

 

 

Biomedical Sciences Investment Fund Pte. Ltd.

August ___, 2006

Page 6

conversion thereof) and the
performance by the Company of its obligations under the Agreement and the First Note has been
taken. Each of the Agreement and the First Note has been duly and validly executed and delivered
by the Company and constitutes a valid and binding obligation of the Company, enforceable against
the Company in accordance with its terms. 

     This opinion is furnished to the Purchaser solely for its benefit in connection with the
purchase of the First Note, and may not be relied upon by any other person or for any other purpose
without our prior written consent. We assume no obligation to inform you of any facts,
circumstances, events or changes in the law that may arise or be brought to our attention after the
date of this opinion that may alter, affect or modify the opinions expressed herein.

	 	 	 	 	 
	 	Very truly yours,

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