Document:

EX-10.2

 Exhibit 10.2 

[Closing Date], 2017 
 Entellus Medical, Inc. 

3600 Holly Lane North, Suite 60 
 Plymouth, Minnesota 55447 

Attention: Legal Department 
 Ladies and Gentlemen: 

Reference is made to that certain Agreement and Plan of Merger, dated as of July 5, 2017 (the “Agreement”), by and among
Entellus Medical, Inc., a Delaware corporation (“Parent”), Stinger Merger Sub, a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”), Spirox, Inc., a Delaware corporation (the
“Company”), Fortis Advisors LLC, as the Equityholders Representative. 
 In order to induce Parent to consummate the
transactions contemplated by the Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned, intending to be legally bound, hereby covenants and agrees as follows: 

1. Release. The undersigned, on behalf of the undersigned and each of the undersigned’s Associated Parties (as defined below),
hereby irrevocably and unconditionally releases the Releasees from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages or causes of action, suits, rights, demands, costs, losses, debts and
expenses (including attorneys’ fees and costs incurred) of any nature whatsoever, known or unknown, suspected or unsuspected, that the undersigned may have had in the past, may now have or may have in the future relating to undersigned’s
relationship with the Company (collectively, “Claims”); provided that the foregoing release shall not cover Claims arising from rights of the undersigned or any such Associated Parties under or to: (i) any unpaid wages
accrued in the ordinary course of business of the Company; (ii) any indemnification or other protections owing to the undersigned or any such Associated Parties under the Company’s certificate of incorporation or bylaws or equivalent
charter documents or, in the case of directors or officers, any indemnification agreement between the Company and such director or officer or under any directors’ and officers’ liability insurance policy maintained by the Company;
(iii) under the Agreement or under the related Agreements; or (iv) any claim which cannot be waived as a matter of law. The undersigned further agrees not to make or cause to be initiated any claims (expressly including any cross-claim,
counterclaim, third party action or application) against any other Person as to whom the undersigned knows or reasonably should know to have a claim of contribution or indemnity against the Persons discharged by this Release, but solely with respect
to matters covered by this Release. If the undersigned or any Associated Party brings any claim, suit, action or manner of action against any of the Releasees in administrative proceedings, in arbitration, at law, in equity, or mixed, with respect
to any Claim, then the undersigned shall indemnify any such Releasee in the amount or value of any final judgment or settlement (monetary or other) and any related cost (including without limitation reasonable legal fees) entered against, paid or
incurred by such Releasee as a result thereof. 

 2. Resignation. Pursuant to Section 7.2(h)(iv) of the Agreement, the undersigned
hereby resigns from the undersigned’s positions as a member of the board of directors and an officer of the Company, contingent upon the occurrence of, and effective at the time of, the Effective Time (as defined in the Agreement). 

3. Definitions. For purposes of this letter agreement: 

(a) the term “Affiliate” shall mean, with respect to any Person, any other Person that as of the date of this
letter agreement or as of any subsequent date, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such specified Person, it being understood that for purposes of this letter
agreement, “control” means the possession, directly or indirectly, of the power to direct, or cause the direction of, the management and policies of a Person, whether through ownership of voting securities, contract or otherwise, and
“controlled” and “controlling” shall have correlative meanings; 
 (b) the term “Associated
Parties” means (i) the undersigned’s successors, executors, administrators, trusts, heirs, beneficiaries and estate (ii) the undersigned’s past, present and future assigns and (iii) agent while under the control and
at the direction of the undersigned; 
 (c) the term “Claim” means any and all charges, complaints, claims,
liabilities, obligations, promises, agreements, controversies, damages or causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and costs incurred) of any nature whatsoever, known or unknown,
suspected or unsuspected, that the undersigned may have had in the past, may now have or may have in the future relating to undersigned’s relationship with the Company; 

(d) the term “Person” shall mean any: (i) individual; (ii) corporation, general partnership, limited
partnership, limited liability partnership, trust, company (including any limited liability company or joint stock company) or other organization or entity; or (iii) governmental body or authority; and 

(e) the term “Releasees” means: Company, Parent, Merger Sub or any of their respective advisors, agents,
directors, officers, Affiliates, employees, representatives, predecessors, successors, related entities, assigns or the like. 
 4.
Unknown Claims. The undersigned: (a) represents, warrants and acknowledges that the undersigned has been fully advised by the undersigned’s attorney of the contents of Section 1542 of the Civil Code of the State of California and
(b) hereby expressly waives, the benefits thereof and any rights that the undersigned may have thereunder. Section 1542 of the Civil Code of the State of California provides as follows: 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF
EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.” 

  
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 The undersigned also hereby waives the benefits of, and any rights that the undersigned may have under, any
statute or common law principle of similar effect in any jurisdiction, to the extent waivable under such laws. 
 5. Acknowledgment.
The undersigned represents and warrants that: (a) the undersigned has not assigned, transferred, conveyed or otherwise disposed of any Claim against any of the Releasees, or any direct or indirect interest in any such Claim, in whole or in
part, and to the best of the undersigned’s knowledge, no other person or entity has any interest in any of the Claims released pursuant to Section 1; (b) this letter agreement has been duly and validly executed and delivered by the
undersigned and is a valid and binding obligation of the undersigned and the Associated Parties, and is enforceable against the undersigned and each of the Associated Parties in accordance with its terms; and (c) no authorization, instruction,
consent or approval of any person or entity is required to be obtained by the undersigned or any Associated Party in connection with the execution and delivery of this letter agreement or the performance hereof. 

6. Miscellaneous. 

(a) This letter agreement shall be construed in accordance with, and governed in all respects by, the internal laws of the
State of Delaware (without giving effect to principles of conflicts of laws that would require the application of the laws of any other jurisdiction). 

(b) This letter agreement and the other agreements referred to herein set forth the entire understanding of the parties hereto
relating to the subject matter hereof and thereof and supersede all prior agreements and understandings among or between any of the parties relating to the subject matter hereof and thereof, with the exception of the Agreement and the other
documents and instruments referred to therein, the terms of which remain in full force and effect. The undersigned has entered into this letter agreement under the undersigned’s own free will, has consulted with legal counsel regarding this
letter agreement and its terms and provisions, and has had a full opportunity to consult with such undersigned’s legal, tax and other professional advisors prior to signing this letter agreement. This letter agreement has been mutually prepared
by the parties and no consideration will be given to which party actually prepared any particular provision in the interpretation hereof. The undersigned shall execute and/or cause to be delivered to each Releasee such instruments and other
documents, and shall take such other actions, as such Releasee may reasonably request for the purpose of carrying out or evidencing any of the actions contemplated by this letter agreement. 

(c) In the event that any provision of this letter agreement, or the application of any such provision to any Person or set of
circumstances, shall be determined to be invalid, unlawful, void or unenforceable to any extent, (i) the remainder of this letter agreement, and the application of such provision to Persons or circumstances other than those as to which it is
determined to be invalid, unlawful, void or unenforceable, shall not be impaired or otherwise affected and shall continue to be valid and enforceable to the fullest extent permitted by law; (ii) the parties hereto agree that the court or other
governmental authority making such determination shall have the power to limit the provision, to delete specific words or phrases, or to replace the provision with a term or provision that is valid and enforceable and that comes closest to
expressing the intention of the invalid, unlawful, void or unenforceable provision; and (iii) in the 

  
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event such court or other governmental authority does not exercise the power granted to it in the prior clause, the parties hereto agree to replace such invalid, unlawful, void or unenforceable
provision with a valid and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid, unlawful, void or unenforceable provision. 

(d) This letter agreement may not be modified or amended except by an instrument or instruments in writing signed by each party
hereto and this letter agreement and the obligations hereunder may not be assigned, transferred or otherwise disposed of by the undersigned or Parent without the prior written consent of the other party; provided, however, that Parent
may transfer or assign its rights and obligations under this letter agreement without the consent of any other party hereto, at any time in whole or from time to time in part, to one or more of its controlled Affiliates. 

(e) This letter agreement may be executed in one or more counterparts and the delivery of this letter agreement by facsimile or
by electronic transmission in .PDF format shall be sufficient to bind the undersigned to the terms and conditions of this letter agreement. 

(f) The captions in this letter agreement are included for convenience of reference only and shall be ignored in the
construction or interpretation hereof. Any singular term in this letter agreement shall be deemed to include the plural, and any plural term the singular, and words denoting either gender shall include both genders as the context requires. Where a
word or phrase is defined herein, each of its other grammatical forms shall have a corresponding meaning. Whenever the words “include,” “includes” or “including” are used in this letter agreement, they shall be deemed
to be followed by the words “without limitation,” whether or not they are in fact followed by those words or words of like import. 

[Signature Page Follows] 

  
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	Very truly yours,
		
		 	 
		 	 Signature

		
		 	 
		 	 Name

		
		 	 
		 	 Address

		
		 	 
		
		 	(            )
		 	 Telephone

		
		 	(            )
		 	 Facsimile

 Signature Page to Letter Agreement (Release & Resignation) 

 

 ACKNOWLEDGED AND AGREED: 

 

			
	Entellus Medical, Inc.
		
		 	 
		 	 Signature

		
		 	 
		 	 Name

		
		 	 
		 	 Title

 Signature Page to Letter Agreement (Release & Resignation)EX-10.3

 Exhibit 10.3 

LOCK-UP AGREEMENT 
 This
Lock-Up Agreement, dated July [ 🌑 ], 2017 (this “Agreement”), by and between the undersigned holder (the “Holder”) and Entellus Medical, Inc., a
Delaware corporation (“Entellus”), is being executed and delivered in accordance with the Agreement and Plan of Merger, dated as of July 6, 2017 (the “Merger Agreement”), by and among Entellus, Stinger Merger
Sub, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Entellus (“Merger Sub”), Spirox, Inc., a Delaware corporation (the “Company”), and Fortis Advisors LLC, as the Equityholders
Representative, pursuant to which Entellus is acquiring the Company by means of a merger of Merger Sub with and into the Company with the Company continuing as the surviving corporation and as an indirect wholly owned subsidiary of Entellus,
pursuant to the terms and subject to the conditions provided for in the Merger Agreement (the “Merger,” and the date the Merger is consummated, the “Closing Date”). Capitalized terms not defined herein shall have
the meanings given to them in the Merger Agreement. 
 WHEREAS, the Holder is a stockholder of the Company immediately prior to the
consummation of the Merger and, as such, will benefit from the transactions contemplated by the Merger Agreement; and 
 WHEREAS, the
execution and delivery of this Agreement by the Holder is a condition to the Holder’s receipt of the Holders’ applicable portion of the Merger Consideration provided for in the Merger Agreement. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and intending to be legally
bound, the parties hereto agree as follows: 
  

	1.	Lock-Up. 

  

	 	(a)	        The Holder shall not offer, sell, contract to sell, pledge, assign, grant any option, right or warrant to purchase, lend, make any short sale, enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership, or otherwise dispose of, directly or indirectly, the shares of common stock, par value $0.001 per share, of Entellus (“Entellus Common
Stock”) received pursuant to the Merger Agreement (the “Locked-Up Shares”) for the period beginning on the Closing Date and continuing (i) with respect to twenty-five percent (25%) of the Locked-Up Shares, through
the closing of trading on the date that is ninety (90) days after the Closing Date, (ii) with respect to an additional twenty-five percent (25%) of the Locked-Up Shares, through the closing of trading on the date that is one hundred
and eighty (180) days after the Closing Date and (iii) with respect to the remaining shares, through the close of trading on the date that is three hundred sixty-five (365) days after the Closing Date (each such period, referred to as
a “Lock-Up Period” and collectively as the “Lock-Up Period”). 

  

	 	(b)	         Notwithstanding the provisions of Section 1(a),
during a Lock-Up Period, the Holder may transfer all or a portion of the Locked-Up Shares (i) as a bona fide gift or gifts, provided that the donee or donees thereof agree in writing to be bound by the terms and conditions of this Agreement,
(ii) to any trust for the direct or indirect benefit of the Holder or an immediate family member of the Holder; provided that the trustee of the trust agrees in writing to be bound by the terms and conditions of this Agreement;
provided, further that any such transfer shall not involve a disposition for value, (iii) to the Holder’s affiliates (including, if applicable, commonly controlled or managed investment funds) provided that such
affiliate(s) agree in writing to be bound by the 

	 	
terms and conditions of this Agreement, (iv) pursuant to a tender or exchange offer publicly recommended by Entellus’s board of directors, (v) pursuant to a merger, stock sale,
consolidation or other transaction publicly recommended by the Entellus’s board of directors, (vi) by will or other testamentary document or by intestacy or (vii) distributions of the Locked-Up Shares to current or former members,
partners, stockholders or subsidiaries of Holder provided that such members, partners, stockholders or subsidiaries agree in writing to be bound by the terms and conditions of this Agreement. For purposes hereof, “immediate family”
shall mean any relationship by blood, marriage or adoption, not more remote than first cousin, and “affiliate” shall mean, as applied to any entity, any other entity directly or indirectly controlling, controlled by, or under direct
or indirect common control with, such entity (for purposes hereof, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control
with”), as applied to any entity, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such entity, whether through the ownership of voting securities, by contract or
otherwise). 

  

	 	(c)	        The Holder consents to the entry of stop transfer instructions with Entellus’s transfer agent and registrar against the transfer of the Locked-Up Shares except in
compliance with the restrictions set forth in this Section 1. 

  

	 	(d)	        Each Holder acknowledges that the Locked-Up Shares will bear a legend, as set forth in the Merger Agreement. 

 

	 	(e)	        After the later of: (1) the one-year anniversary of the Closing Date; and (2) the expiration of any Lock-Up Period, Entellus agrees, upon request of
Holder, to instruct Entellus’s transfer agent to remove any stop transfer instructions and restrictive legends, with respect to any Entellus Common Stock held by Holder that cease to be Lock-Up Shares pursuant to
Section 1(a). In addition, prior to such time, upon reasonable request by a Holder, Entellus agrees to use commercially reasonable efforts to work with its transfer agent to assist such Holder to expedite or facilitate the transfer of any
Shares that cease to be Lock-Up Shares pursuant to Section 1(a), including removing any restrictive legends that Entellus believes are no longer necessary and delivering customary opinions to Entellus’s transfer agent, including a
customary “blanket” opinion after the six-month anniversary of the Closing Date. 

  

	2.	Representations and Warranties. The Holder hereby represents and warrants to Entellus as follows: 

  

	 	(a)	        Authorization. The Holder has all requisite power and authority to execute and deliver this Agreement, to perform the Holder’s obligations hereunder and to
consummate the transactions contemplated hereby. This Agreement has been duly and validly executed and delivered by the Holder and is a legal, valid and binding obligation of the Holder, enforceable against the Holder in accordance with its terms,
subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. 

	 	3.	        Binding Effect. This Agreement shall be binding upon the parties hereto and each of their heirs, beneficiaries, legal representatives, successors and assigns, as
applicable. 

  

	 	4.	        Governing Law. The provisions of this Agreement shall be governed by and construed in accordance with the laws of the State of Delaware (excluding any conflict of
law rule or principle that would refer to the laws of another jurisdiction). 

  

	 	5.	        Severability. In the event that any provision of this Agreement, or the application thereof, becomes or is declared by a court of competent jurisdiction to be
illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect and the application of such provision to other persons or circumstances will be interpreted so as reasonably to effect the intent of the
applicable parties. 

  

	 	6.	        Counterparts. This Agreement may be executed in a number of identical counterparts (including by PDF or other electronic transmission), all of which shall
constitute one agreement. 

 [Signature Page Follows] 

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

							
		 		 	SIGNATURE LINE FOR INDIVIDUAL HOLDERS:
			
		 		 	 
		 		 	Name:	 	
			
		 		 	SIGNATURE LINE FOR ENTITY HOLDERS:
			
		 		 	Entity Name:
				
		 		 	By:	 	 
		 		 	Name:	 	
		 		 	Title:	 	

 [Signature Page to Lock-Up Agreement] 

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

							
		 		 	ENTELLUS MEDICAL, INC.
				
		 		 	By:	 	 
		 		 	Name:	 	
		 		 	Title:	 	 

 [Signature Page to Lock-Up Agreement]

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