Document:

EX-10.1

 Exhibit 10.1 

AMENDMENT TO 
 AMENDED
AND RESTATED MERCHANDISING AGREEMENT 
 THIS AMENDMENT (this “Amendment”), dated as of March 8, 2017 and effective as of
the Effective Date, is entered into by and between (1) Sears, Roebuck and Co., a New York corporation (“SRC”), Kmart Corporation, a Michigan corporation (“Kmart” and, together with SRC,
“Sears”) and Sears Holdings Corporation, a Delaware corporation (“SHC”), (2) Sears Hometown and Outlet Stores, Inc., a Delaware corporation (“SHO”), Sears Authorized Hometown Stores, LLC, a Delaware
limited liability company (“SAHS”) and Sears Outlet Stores, L.L.C., a Delaware limited liability company (“Outlet Co.” and, together with SHO and SAHS, “Licensee”) and (3) solely for purposes
of Section 1.4 and Section 1.6.5, Stanley Black & Decker, Inc. (“Stanley”), to amend the Amended and Restated Merchandising Agreement, retroactive to May 1, 2016, by and among Sears, SHC and Licensee (the
“Agreement”). SHC, Sears, Licensee and Stanley are hereinafter referred to individually as a “Party” and collectively as the “Parties.” Defined terms used herein but not otherwise defined shall have
the meanings ascribed to them in the Agreement. 
 WHEREAS, pursuant to the Agreement, Sears granted to Licensee a nonexclusive,
nontransferable and revocable right and license to use the KCD Marks in connection with the marketing and sale of products sold under the KCD Marks; 

WHEREAS, SHC entered into a purchase and sale agreement, dated as of January 5, 2017 (as amended, modified or supplemented from
time to time in accordance with its terms, the “Purchase Agreement”), with Stanley, pursuant to which, on the terms and subject to the conditions set forth therein, SHC will sell certain assets and liabilities relating to its
Craftsman business to Stanley (the “Transaction”); 
 WHEREAS, the Purchase Agreement contemplates the entry by SHC
and Stanley into a license agreement as of the closing of the Transaction (such license agreement, as may be amended from time to time, the “Stanley License Agreement”), pursuant to which, on the terms and subject to the conditions
set forth therein, Stanley will license to SHC and its affiliates, including Sears, certain intellectual property rights; 
 WHEREAS,
Licensee desires to obtain a sublicense to use the Craftsman Marks and SHC desires to grant such sublicense, subject to and in accordance with the terms, conditions and limitations of the Stanley License Agreement; and 

WHEREAS, Sears, SHC and Licensee wish to amend the Agreement as set forth herein. 

NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows: 
  

	1.1	Amendments. Pursuant to Section 22(i) of the Agreement, the Parties hereby agree to amend the terms of the Agreement as follows: 

 

	 	1.1.1	Partial Termination of License. The license granted by Sears to Licensee in Section 12(a)(iii) of the Agreement is hereby terminated with respect to: (a) the Craftsman name, all Marks that incorporate the
Craftsman name and the sub-brand Marks associated with, and the trade dress related to, Craftsman (the “Craftsman Marks”) and (b) without prejudice to the foregoing clause (a), any
products, equipment, advertising or promotional materials and any other item bearing any Craftsman Mark. 

  

	 	1.1.2	Grant of Sublicense. Subject to the terms, conditions and limitations of this Amendment and the Stanley License Agreement, SHC hereby grants to Licensee a nonexclusive, nontransferable, non-assignable, non-sublicenseable (except to customers and third-party contractors on behalf of Licensee’s business), revocable (subject to Section 2 of the Agreement and Section 15 of the Stanley
License Agreement) right and license to use the Craftsman Marks, solely in connection with the marketing and sale of products or equipment bearing or otherwise utilizing the Craftsman Marks in the Territory (the “Sublicense”).

	 	1.1.3	Payments by Licensee. Licensee shall continue to pay royalties to Sears with respect to products bearing the Craftsman Marks on the terms and subject to the conditions set forth in the Agreement, as if the
license granted by Sears to Licensee in Section 12(a)(iii) of the Agreement with respect to the Craftsman Marks had not been terminated. 

  

	 	1.1.4	Other Terms of Agreement. Except as expressly amended by this Amendment, all other terms and conditions of the Agreement (including all schedules, exhibits and appendices thereto), including all terms and
conditions that do not pertain to the Sublicense granted to Licensee, shall remain in full force and effect. 

  

	1.2	Obligations under Sublicense. 

  

	 	1.2.1	Licensee shall be subject in all respects to the covenants and restrictions applicable to SHC contained in the Stanley License Agreement insofar as they pertain to the Sublicense granted to Licensee under this
Amendment. 

  

	 	1.2.2	Licensee agrees not to take any action that would cause SHC or any of its affiliates to be in violation of the Stanley License Agreement. Licensee shall indemnify and hold harmless SHC and its affiliates,
directors, officers, employees, agents, successors and assigns for any breach by Licensee of this Amendment. SHC agrees not to take any action that would cause Licensee or any of its affiliates to be in violation of this Amendment. This
Section 1.2.2 shall be subject to Section 14 and Section 16 of the Agreement. 

  

	 	1.2.3	The Parties acknowledge that the Sublicense is subject in all respects to the Stanley License Agreement, as it may be amended from time to time in accordance with this Section 1.2.3. SHC shall not elect to
terminate (including pursuant to Section 15(d) of the Stanley License Agreement) the Stanley License Agreement or consent to any amendment of the Stanley License Agreement if such amendment would materially adversely affect, limit or terminate the
rights or interests of Licensee under the Sublicense in a manner disproportionate relative to SHC, in each case, without Licensee’s prior written consent to such termination or amendment, as applicable. Subject to this Section 1.2.3,
Licensee shall be bound by all such amendments and the Sublicense shall be subject to the terms of the Stanley License Agreement as in effect from time to time. For the avoidance of doubt, any termination of the Sublicense shall not terminate or
otherwise affect the obligations of SHC to perform the other terms and conditions applicable to it or to any of SHO’s other rights in accordance with the Agreement or applicable law. 

 

	 	1.2.4	The Sublicense shall be on the same terms and subject to the same conditions as set forth in Section 12(a)(iii)(B) of the Agreement; provided, however, that if any provisions of the Stanley License
Agreement impose greater restrictions or obligations on Licensee with respect to the Sublicense than those set forth in Section 12(a)(iii)(B) of the Agreement, Licensee shall comply with those more restrictive or burdensome provisions of the Stanley
License Agreement. 

  

	1.3	Termination of Sublicense. SHC shall have the right to immediately terminate the Sublicense upon written notice if: 

  

	 	1.3.1	SHC no longer retains the right to sublicense the Craftsman Marks under the Stanley License Agreement; 

  

	 	1.3.2	Licensee materially breaches any of the terms of the Sublicense, and fails to cure such breach within 90 days from the date on which Licensee receives written notice of such breach from SHC or Stanley;
provided, that, such 90-day cure period, whether triggered by a written notice from SHC or Stanley, shall be subject to the same extension provided to SHO by the last sentence of Section 15(c) of
the Stanley License Agreement; or 

  
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	 	1.3.3	Licensee ceases to sell products under the Craftsman Marks, such that no such products are sold for any consecutive six month period; provided, that, Licensee’s ceasing to sell such products
under the Craftsman Marks is not caused by SHC ceasing to sell such products to SHO under the Agreement. 

  

	1.4	Waivers. (i) Sears hereby waives its right under Section 2(d)(i) of the Agreement, and agrees not, to terminate, solely based on the Transaction, its obligations under Section 3 of the Agreement to sell
all KCD-Branded Products that are branded with a KCD Mark that is the subject of a KCD Mark Acquisition, and (ii) Stanley hereby waives its right pursuant to the second sentence of Section 5.18(a) of the
Seller Disclosure Letter (as that term is defined in the Purchase Agreement), and agrees not, to deliver notice to SHC requesting that SHC deliver notice of such termination as described in (i) to Licensee. 

 

	1.5	Effectiveness. This Amendment shall be effective as of the Closing Date (as defined in the Purchase Agreement) (the “Effective Date”). SHC shall notify Licensee of the Effective Date on or
promptly following such date. 

  

	1.6	Miscellaneous. 

  

	 	1.6.1	Headings. The section headings contained in this Amendment are inserted for convenience of reference only and shall not be deemed to affect the meaning or interpretation of this Amendment. 

 

	 	1.6.2	Precedence of Agreements. In the event of any conflict between this Amendment and any other agreement between the Parties with respect to the Craftsman Marks, this Amendment shall control. 

 

	 	1.6.3	Ratification. Except as amended by this Amendment, the Agreement remains unmodified and in full force and effect in accordance with its terms. 

 

	 	1.6.4	Inurement. This Amendment shall inure to the benefit of, and be binding upon, the Parties hereto and their respective successors and permitted assignees. 

 

	 	1.6.5	Beneficiaries. The Parties acknowledge and agree that (i) Stanley is an intended beneficiary of this Amendment, and has the right to rely upon and directly enforce the provisions of this Section 1.6.5
and Sections 1.1.1, 1.1.2, 1.1.3, 1.2, 1.5 and 1.6.2 of this Amendment, and (ii) Licensee is an intended beneficiary under Section 1.4(ii) of this Amendment, and has the right to rely upon and directly enforce the provisions of Section 1.4(ii)
of this Amendment. Stanley acknowledges and agrees that this Amendment satisfies Section 5.18(b) of the Seller Disclosure Letter (as that term is defined in the Purchase Agreement) of the Purchase Agreement and this Section 1.6.5 satisfies the
third-party beneficiary acknowledgment as described under such Section 5.18(b). Except as set forth in this Section 1.6.5, this Amendment does not create benefits on behalf of any third person and will only be effective as to the Parties hereto
and their respective successors and permitted assigns. 

  

	 	1.6.6	Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Illinois, other than its conflict of laws principles. 

 

	 	1.6.7	Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument, and
shall become effective when one or more counterparts have been signed by each Party and delivered (by telecopy, electronic delivery or otherwise) to the other Party. Signatures to this Amendment transmitted by facsimile transmission, by electronic
mail in “portable document format” (“.pdf”) form, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper
document bearing the original signature. 

 [Remainder of page left intentionally blank] 

 
  
  

  
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 IN WITNESS WHEREOF, the Parties have duly executed this Amendment to the Amended and
Restated Merchandising Agreement as of the date first written above. 
  

					
	SEARS, ROEBUCK AND CO.
		
	By:	 	 /s/ ROBERT A. RIECKER

		 	Name:	 	Robert A. Riecker
		 	Title:	 	 Controller and Head of Capital
 Market
Activities

	
	KMART CORPORATION
		
	By:	 	 /s/ ROBERT A. RIECKER

		 	Name:	 	Robert A. Riecker
		 	Title:	 	 Controller and Head of Capital
 Market
Activities

	
	SEARS HOLDINGS CORPORATION
		
	By:	 	 /s/ ROBERT A. RIECKER

		 	Name:	 	Robert A. Riecker
		 	Title:	 	 Controller and Head of Capital
 Market
Activities

	
	SEARS HOMETOWN AND OUTLET STORES, INC.
		
	By:	 	 /s/ CHARLES J. HANSEN

		 	Name:	 	Charles J. Hansen
		 	Title:	 	Vice President, General Counsel, and Secretary
	
	SEARS AUTHORIZED HOMETOWN STORES, LLC
		
	By:	 	 /s/ CHARLES J. HANSEN

		 	Name:	 	Charles J. Hansen
		 	Title:	 	Vice President
	
	SEARS OUTLET STORES, L.L.C.
		
	By:	 	 /s/ CHARLES J. HANSEN

		 	Name:	 	Charles J. Hansen
		 	Title:	 	Vice President

 
			
	 Solely for purposes of Section 1.4 and Section 1.6.5,

STANLEY BLACK & DECKER, INC.

		
	By:	 	 /s/ CORBIN WALBURGER

		 	Name: Corbin Walburger
		 	Title:   Vice President, Business Development

  
 [Signature Page
to Amendment]EX-4.4

 Exhibit 4.4 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE
SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTIONS 5.3 AND 5.4 BELOW, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND
SUBSTANCE SATISFACTORY TO THE COMPANY, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION. 
 WARRANT TO PURCHASE
STOCK 
  

			
	Company:	  	TOCAGEN INC., a Delaware corporation
	Number of Shares:	  	34,286
	Type/Series of Stock:	  	Series H Preferred
	Warrant Price:	  	$5.25 per share
	Issue Date:	  	October 30, 2015
	Expiration Date:	  	October 30, 2025 See also Section 5.1(b).
	Credit Facility:	  	This Warrant to Purchase Stock (“Warrant”) is issued in connection with that certain Loan and Security Agreement of even date herewith among Oxford Finance LLC, as Lender and Collateral Agent, the Lenders from time
to time party thereto, including Silicon Valley Bank and the Company (as modified, amended and/or restated from time to time, the “Loan Agreement”).

 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, OXFORD FINANCE LLC
(“Oxford” and, together with any successor or permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, “Holder”) is entitled to purchase the number of fully paid and
non-assessable shares (the “Shares”) of the above-stated Type/Series of Stock (the “Class”) of the above-named company (the “Company”) at the above-stated Warrant Price, all as set forth above and
as adjusted pursuant to Section 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. 

SECTION 1. EXERCISE. 
 1.1
Method of Exercise. Holder may at any time and from time to time exercise this Warrant, in whole or in part, by delivering to the Company the original of this Warrant together with a duly executed Notice of Exercise in substantially the form
attached hereto as Appendix 1 and, unless Holder is exercising this Warrant pursuant to a cashless exercise set forth in Section 1.2, a check, wire transfer of same-day funds (to an account designated by the Company), or other form of payment
acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. 
 1.2 Cashless Exercise. On any exercise
of this Warrant, in lieu of payment of the aggregate Warrant Price in the manner as specified in Section 1.1 above, but otherwise in accordance with the requirements of Section 1.1, Holder may elect to receive Shares equal to the value of
this Warrant, or portion hereof as to which this Warrant is being exercised. Thereupon, the Company shall issue to the Holder such number of fully paid and non-assessable Shares as are computed using the following formula: 

X = Y(A-B)/A 

where: 
  

	 	X =	the number of Shares to be issued to the Holder; 

  

	 	Y =	the number of Shares with respect to which this Warrant is being exercised (inclusive of the Shares surrendered to the Company in payment of the aggregate Warrant Price); 

  
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	 	A =	the Fair Market Value (as determined pursuant to Section 1.3 below) of one Share; and 

  

	 	B =	the Warrant Price. 

 1.3 Fair Market Value. If the Company’s common stock is then
traded or quoted on a nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market (a “Trading Market”) and the Class is common stock, the fair market value of a Share shall be the closing
price or last sale price of a share of common stock reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company. If the Company’s common stock is then
traded in a Trading Market and the Class is a series of the Company’s convertible preferred stock, the fair market value of a Share shall be the closing price or last sale price of a share of the Company’s common stock reported for the
Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company multiplied by the number of shares of the Company’s common stock into which a Share is then convertible. If the
Company’s common stock is not traded in a Trading Market, the Board of Directors of the Company shall determine the fair market value of a Share in its reasonable good faith judgment. 

1.4 Delivery of Certificate and New Warrant. Within a reasonable time after Holder exercises this Warrant in the manner set forth in
Section 1.1 or 1.2 above, the Company shall deliver to Holder a certificate representing the Shares issued to Holder upon such exercise and, if this Warrant has not been fully exercised and has not expired, a new warrant of like tenor
representing the Shares not so acquired. 
 1.5 Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company
of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form, substance and amount to the Company or, in the case of mutilation,
on surrender of this Warrant to the Company for cancellation, the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new warrant of like tenor and amount. 

1.6 Treatment of Warrant Upon Acquisition of Company. 

(a) Acquisition. For the purpose of this Warrant, “Acquisition” means any transaction or series of related
transactions involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all of the assets of the Company (ii) any merger or consolidation of the Company into or with another person or entity (other than
a merger or consolidation effected exclusively to change the Company’s domicile), or any other corporate reorganization, in which the stockholders of the Company in their capacity as such immediately prior to such merger, consolidation or
reorganization, own less than a majority of the Company’s (or the surviving or successor entity’s) outstanding voting power immediately after such merger, consolidation or reorganization (or, if such Company stockholders beneficially own a
majority of the outstanding voting power of the surviving or successor entity as of immediately after such merger, consolidation or reorganization, such surviving or successor entity is not the Company); or (iii) any sale or other transfer by
the stockholders of the Company of shares representing at least a majority of the Company’s then-total outstanding combined voting power. 

(b) Treatment of Warrant at Acquisition. In the event of an Acquisition in which the consideration to be received by the Company’s
stockholders consists solely of cash, solely of Marketable Securities or a combination of cash and Marketable Securities (a “Cash/Public Acquisition”), either (i) Holder shall exercise this Warrant pursuant to Section 1.1
and/or 1.2 and such exercise will be deemed effective immediately prior to and contingent upon the consummation of such Acquisition or (ii) if Holder elects not to exercise the Warrant, this Warrant will expire immediately prior to the
consummation of such Acquisition. 
 (c) The Company shall provide Holder with written notice of its request relating to the Cash/Public
Acquisition (together with such reasonable information as Holder may reasonably require regarding the treatment of this Warrant in connection with such contemplated Cash/Public Acquisition giving rise to such notice), which is to be delivered to
Holder not less than seven (7) Business Days prior to the closing of the proposed Cash/Public Acquisition. In the event the Company does not provide such notice, then if, immediately prior to the Cash/Public Acquisition, the fair market value
of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above would be greater than the Warrant Price in effect on such date, 

  
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then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not
previously have been exercised, and the Company shall promptly notify the Holder of the number of Shares (or such other securities) issued upon such exercise to the Holder and Holder shall be deemed to have restated each of the representations and
warranties in Section 4 of the Warrant as the date thereof. 
 (d) Upon the closing of any Acquisition other than a Cash/Public
Acquisition defined above, the acquiring, surviving or successor entity shall assume the obligations of this Warrant, and this Warrant shall thereafter be exercisable for the same securities and/or other property as would have been paid for the
Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on and as of the closing of such Acquisition, subject to further adjustment from time to time in accordance with the provisions of this
Warrant. 
 (e) As used in this Warrant, “Marketable Securities” means securities meeting all of the following
requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is then current in its
filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder in connection with the Acquisition were Holder to
exercise this Warrant on or prior to the closing thereof is then traded in Trading Market, and (iii) following the closing of such Acquisition, Holder would not be restricted from publicly re-selling all of the issuer’s shares and/or other
securities that would be received by Holder in such Acquisition were Holder to exercise or convert this Warrant in full on or prior to the closing of such Acquisition, except to the extent that any such restriction (x) arises solely under
federal or state securities laws, rules or regulations, and (y) does not extend beyond six (6) months from the closing of such Acquisition. 

SECTION 2. ADJUSTMENTS TO THE SHARES AND WARRANT PRICE. 

2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend or distribution on the outstanding shares of the Class
payable in common stock or other securities or property (other than cash), then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without additional cost to Holder, the total number and kind of securities and property
which Holder would have received had Holder owned the Shares of record as of the date the dividend or distribution occurred. If the Company subdivides the outstanding shares of the Class by reclassification or otherwise into a greater number of
shares, the number of Shares purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares of the Class are combined or consolidated, by reclassification or otherwise,
into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased. 

2.2 Reclassification, Exchange, Combinations or Substitution. Upon any event whereby all of the outstanding shares of the Class are
reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or series, then from and after the consummation of such event, this Warrant will be exercisable for the number, class and
series of Company securities that Holder would have received had the Shares been outstanding on and as of the consummation of such event, and subject to further adjustment thereafter from time to time in accordance with the provisions of this
Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, combinations substitutions, replacements or other similar events. 

2.3 Conversion of Preferred Stock. If the Class is a class and series of the Company’s convertible preferred stock, in the event
that all outstanding shares of the Class are converted, automatically or by action of the holders thereof, into common stock pursuant to the provisions of the Company’s Certificate of Incorporation, including, without limitation, in connection
with the Company’s initial, underwritten public offering and sale of its common stock pursuant to an effective registration statement under the Act (the “IPO”), then from and after the date on which all outstanding shares of
the Class have been so converted, this Warrant shall be exercisable for such number of shares of common stock into which the Shares would have been converted had the Shares been outstanding on the date of such conversion, and the Warrant Price shall
equal the Warrant Price in effect as of immediately prior to such conversion divided by the number of shares of common stock into which one 

  
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Share would have been converted, all subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant. 

2.4 Adjustments for Diluting Issuances. Without duplication of any adjustment otherwise provided for in this Section 2, the number
of shares of common stock issuable upon conversion of the Shares shall be subject to anti-dilution adjustment from time to time in the manner set forth in the Company’s Certificate of Incorporation as if the Shares were issued and outstanding
on and as of the date of any such required adjustment. 
 2.5 No Fractional Share. No fractional Share shall be issuable upon
exercise of this Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional Share interest arises upon any exercise of the Warrant, the Company shall eliminate such fractional Share interest by
paying Holder in cash the amount computed by multiplying the fractional interest by (i) the fair market value (as determined in accordance with Section 1.3 above) of a full Share, less (ii) the then-effective Warrant Price. 

2.6 Notice/Certificate as to Adjustments. Upon each adjustment of the Warrant Price, Class and/or number of Shares, the Company, at the
Company’s expense, shall notify Holder in writing within a reasonable time setting forth the adjustments to the Warrant Price, Class and/or number of Shares and facts upon which such adjustment is based. The Company shall, upon written request
from Holder, furnish Holder with a certificate of its Chief Financial Officer, including computations of such adjustment and the Warrant Price, Class and number of Shares in effect upon the date of such adjustment. 

SECTION 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 

3.1 Representations and Warranties. The Company represents and warrants to, and agrees with, the Holder as follows: 

(a) The initial Warrant Price referenced on the first page of this Warrant is not greater than the price per share at which shares of the
Class were last sold and issued prior to the Issue Date hereof in an arms-length transaction in which at least $500,000 of such shares were sold. 

(b) All Shares which may be issued upon the exercise of this Warrant, and all securities, if any, issuable upon conversion of the Shares,
shall, upon issuance, be duly authorized, validly issued, fully paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. The
Company covenants that it shall at all times cause to be reserved and kept available out of its authorized and unissued capital stock such number of shares of the Class, common stock and other securities as will be sufficient to permit the exercise
in full of this Warrant and the conversion of the Shares into common stock or such other securities. 
 (c) The Company’s
capitalization table provided to Holder on the date hereof is true and complete, in all material respects, as of the Issue Date. 
 3.2
Notice of Certain Events. If the Company proposes at any time to: 
 (a) declare any dividend or distribution upon the outstanding
shares of the Class or common stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; 

(b) offer for subscription or sale pro rata to the holders of the outstanding shares of the Class any additional shares of any class or series
of the Company’s stock (other than pursuant to contractual pre-emptive rights); 
 (c) effect any reclassification, exchange,
combination, substitution, reorganization or recapitalization of the outstanding shares of the Class; 
 (d) effect an Acquisition or to
liquidate, dissolve or wind up; or 

  
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 (e) effect an IPO; 

then, in connection with each such event, the Company shall give Holder: 

(1) at least seven (7) Business Days prior written notice of the date on which a record will be taken for such dividend, distribution, or
subscription rights (and specifying the date on which the holders of outstanding shares of the Class will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) and (b) above; 

(2) in the case of the matters referred to in (c) and (d) above at least seven (7) Business Days prior written notice of the
date when the same will take place (and specifying the date on which the holders of outstanding shares of the Class will be entitled to exchange their shares for the securities or other property deliverable upon the occurrence of such event); and

 (3) with respect to the IPO, at least seven (7) Business Days prior written notice of the date on which the Company proposes to file
its registration statement in connection therewith. 
 Reference is made to Section 1.6(c) whereby this Warrant will be deemed to be exercised pursuant
to Section 1.2 hereof if the Company does not give written notice to Holder of a Cash/Public Acquisition as required by the terms hereof. Company will also provide information requested by Holder that is reasonably necessary to enable Holder to
comply with Holder’s accounting or reporting requirements. 
 SECTION 4. REPRESENTATIONS, WARRANTIES OF THE HOLDER. 

The Holder represents and warrants to the Company as follows: 

4.1 Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder are being acquired
for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the specific purpose of acquiring
this Warrant or the Shares. 
 4.2 Disclosure of Information. Holder is aware of the Company’s business affairs and financial
condition and has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has
had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such
information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access. 

4.3 Investment Experience. Holder understands that the purchase of this Warrant and its underlying securities involves substantial
risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying securities and has such
knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the
Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons. 

4.4 Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D promulgated under the
Act. 
 4.5 The Act. Holder understands that this Warrant and the Shares issuable upon exercise hereof have not been registered under
the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. 

  
 5 

 
Holder understands that this Warrant and the Shares issued upon any exercise hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state
securities laws, or unless exemption from such registration and qualification are otherwise available. Holder is aware of the provisions of Rule 144 promulgated under the Act. 

4.6 Market Stand-off Agreement. Holder shall not sell, dispose of, transfer, make any short sale of, grant any option for the purchase
of, or enter into any hedging or similar transaction with the same economic effect as a sale of, any shares of the Company’s capital stock held by Holder during the 180-day period following the effective date of a registration statement of the
Company filed under the Securities Act of 1933, as amended (the “Lock Up Period”); (or such longer period, not to exceed 34 days after the expiration of the 180-day period, as the underwriters or the Company shall request in order
to facilitate compliance with NASD Rule 2711 or any other rule adopted by a governmental or regulatory body addressing a similar subject matter of such Rule). Holder agrees to execute and deliver such other agreements as may be reasonably
requested by the Company and/or the managing underwriter which are consistent with the foregoing or which are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer
instructions with respect to Holder’s securities until the end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 4.6 and shall have the right, power and authority to
enforce the provisions hereof as though they were a party hereto. Notwithstanding the foregoing, Holder shall only be subject to the foregoing provisions of this Section 4.6 so long as each of the Company’s other shareholders are subject
to the same requirements and restrictions. 
 4.7 No Voting Rights. Holder, as a Holder of this Warrant, will not have any voting
rights until the exercise of this Warrant. 
 SECTION 5. MISCELLANEOUS. 

5.1 Term; Automatic Cashless Exercise Upon Expiration. 

(a) Term. Subject to the provisions of Section 1.6 above, this Warrant is exercisable in whole or in part at any time and from time
to time on or before 6:00 PM, Eastern time, on the Expiration Date and shall be void thereafter. 
 (b) Automatic Cashless Exercise upon
Expiration. In the event that, upon the Expiration Date, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect
on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the
Company shall, within a reasonable time, deliver a certificate representing the Shares (or such other securities) issued upon such exercise to Holder. 

5.2 Legends. Each certificate evidencing Shares (and each certificate evidencing the securities issued upon conversion of any Shares,
if any) shall be imprinted with a legend in substantially the following form: 
 THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE STOCK ISSUED BY THE ISSUER TO OXFORD FINANCE LLC DATED OCTOBER 30,
2015, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS
EXEMPT FROM SUCH REGISTRATION. 

  
 6 

 5.3 Compliance with Securities Laws on Transfer. This Warrant and the Shares issued upon
exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part except in compliance with applicable federal and state securities laws by
the transferor and the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require
Holder to provide an opinion of counsel if the transfer is to an affiliate of Holder, provided that any such transferee is an “accredited investor” as defined in Regulation D promulgated under the Act. Additionally, the Company shall also
not require an opinion of counsel if there is no material question as to the availability of Rule 144 promulgated under the Act. 
 5.4
Transfer Procedure. After receipt by Oxford of the executed Warrant, Oxford may transfer all or part of this Warrant to one or more of Oxford’s affiliates (each, an “Oxford Affiliate”), by execution of an Assignment
substantially in the form of Appendix 2. Subject to the provisions of Article 5.3 and upon providing the Company with written notice, Oxford, any such Oxford Affiliate and any subsequent Holder, may transfer all or part of this Warrant or the Shares
issuable upon exercise of this Warrant (or the Shares issuable directly or indirectly, upon conversion of the Shares, if any) to any other transferee, provided, however, in connection with any such transfer, the Oxford Affiliate(s) or any subsequent
Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to the Company for reissuance to the transferee(s)
(and Holder if applicable). Notwithstanding any contrary provision herein, at all times prior to the IPO, Holder may not, without the Company’s prior written consent, transfer this Warrant or any portion hereof, or any Shares issued upon any
exercise hereof, or any shares or other securities issued upon any conversion of any Shares issued upon any exercise hereof, to any person or entity who directly competes with the Company, except in connection with an Acquisition of the Company by
such a direct competitor. 
 5.5 Notices. All notices and other communications hereunder from the Company to the Holder, or vice
versa, shall be deemed delivered and effective (i) when given personally, (ii) on the third (3rd) Business Day after being mailed by first-class registered or certified mail, postage prepaid, (iii) upon actual receipt if given by
facsimile or electronic mail and such receipt is confirmed in writing by the recipient, or (iv) on the first Business Day following delivery to a reliable overnight courier service, courier fee prepaid, in any case at such address as may have
been furnished to the Company or Holder, as the case may be, in writing by the Company or such Holder from time to time in accordance with the provisions of this Section 5.5. All notices to Holder shall be addressed as follows until the Company
receives notice of a change of address in connection with a transfer or otherwise: 
 Oxford Finance LLC 

133 N. Fairfax Street 

Alexandria, VA 22314 

Attn: Legal Department 

Telephone: (703) 519-4900 

Facsimile: (703) 519-5225 

Email: LegalDepartment@oxfordfinance.com 

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address: 

Tocagen Inc. 

3030 Bunker Hill Street, Suite 230 

San Diego, CA 92109 

Attn: Chief Financial Officer 

Telephone: 858-412-8403 

Facsimile: (858) 412-8499 

Email: tdarcy@tocagen.com 

With a copy to: 

Cooley LLP 

Attn: Fred Muto 

  
 7 

 4401 Eastgate Mall 

San Diego, CA 92121 

5.6 Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated (either generally or in a particular
instance and either retroactively or prospectively) only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 

5.7 Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the
party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

5.8 Counterparts; Facsimile/Electronic Signatures. This Warrant may be executed in counterparts, all of which together shall constitute
one and the same agreement. Any signature page delivered electronically or by facsimile shall be binding to the same extent as an original signature page with regards to any agreement subject to the terms hereof or any amendment thereto. 

5.9 Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of California, without
giving effect to its principles regarding conflicts of law. 
 5.10 Headings. The headings in this Warrant are for purposes of
reference only and shall not limit or otherwise affect the meaning of any provision of this Warrant. 
 5.11 Business Days.
“Business Day” is any day that is not a Saturday, Sunday or a day on which Silicon Valley Bank is closed. 
 [Remainder of
page left blank intentionally] 
 [Signature page follows] 

  
 8 

 IN WITNESS WHEREOF, the parties have caused this Warrant to Purchase Stock to be executed by
their duly authorized representatives effective as of the Issue Date written above. 
 “COMPANY” 

 

			
	TOCAGEN INC.
		
	By:	 	/s/ Thomas E. Darcy
		
	Name:	 	Thomas E. Darcy
		 	(Print)
		
	Title:	 	EVP & CFO

 “HOLDER” 
  

			
	OXFORD FINANCE LLC
		
	By:	 	/s/ Mark Davis
		
	Name:	 	Mark Davis
		 	(Print)
		
	Title:	 	Vice President – Finance, Secretary & Treasurer

  

[Signature Page to Warrant to Purchase Stock] 

 APPENDIX 1 

NOTICE OF EXERCISE 
 1.
The undersigned Holder hereby exercises its right to purchase                  shares of the Common/Series
                 Preferred [circle one] Stock of TOCAGEN INC. (the “Company”) in accordance with the attached Warrant To Purchase Stock, and
tenders payment of the aggregate Warrant Price for such shares as follows: 
  

	 	[    ]	Check in the amount of $             payable to order of the Company enclosed herewith 

 

	 	[    ]	Wire transfer of immediately available funds to the Company’s account 

  

	 	[    ]	Cashless Exercise pursuant to Section 1.2 of the Warrant 

  

	 	[    ]	Other [Describe]
                                         
                                       

 2. Please issue a certificate or certificates representing the Shares in the name specified below: 

 

			
		
		 	 
		 	Holder’s Name
		
		 	 
		
		 	 
		 	(Address)

 3. By its execution below and for the benefit of the Company, Holder hereby restates each of the
representations and warranties in Section 4 of the Warrant to Purchase Stock as of the date hereof. 
  

			
	HOLDER:
	
	 
		
	 By:
	 	 

 
			
		
	 Name:
	 	 

 
			
		
	 Title:
	 	 

 
			
		
	 Date:
	 	 

  
 Appendix 1 

 APPENDIX 2 

ASSIGNMENT 
 For
value received, Oxford Finance LLC hereby sells, assigns and transfers unto 
  

			
	Name:	 	[OXFORD TRANSFEREE]
		
	Address:	 	 

					
			
	Tax ID:	 		 	 

 that certain Warrant to Purchase Stock issued by TOCAGEN INC. (the “Company”), on October
    , 2015 (the “Warrant”) together with all rights, title and interest therein. 
  

			
	OXFORD FINANCE LLC

 
			
		
	By:	 	 

 
			
		
	Name:	 	 

 
			
		
	Title:	 	 

 Date:
                                         
                            

By its execution below, and for the benefit of the Company, [OXFORD TRANSFEREE] makes each of the representations and warranties set forth in Article 4 of the
Warrant and agrees to all other provisions of the Warrant as of the date hereof. 
  

			
	[OXFORD TRANSFEREE]

 
			
		
	By:	 	 

 
			
		
	Name:	 	 

 
			
		
	Title:	 	 

  
 Appendix 2

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