Document:

Amended and restated warrant to purchase common stock

 EXHIBIT 4.4 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR PURSUANT
TO RULE 144 OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. 
 AMENDED AND RESTATED WARRANT TO PURCHASE STOCK 
  

			
	Corporation:	  	PHENOMIX CORPORATION, a Delaware Corporation
	Number of Shares:	  	42,857
	Class of Stock:	  	Common Stock
	Initial Exercise Price:	  	$7.00 per share
	Original Issue Date:	  	December 23, 2004
	Expiration Date:	  	December 23, 2014 (Subject to Section 5.1)

 THIS AMENDED AND RESTATED WARRANT entered into as of July 19, 2007 certifies that, for good
and valuable consideration, the receipt of which is hereby acknowledged, COMERICA, INCORPORATED or its assignee (“Holder”) is entitled to purchase the number of fully paid and nonassessable shares of the class of securities (the
“Shares”) of the corporation (the “Company”) at the initial exercise price per Share (the “Warrant Price”) all as set forth above and as adjusted pursuant to Article 2 of this warrant, subject to the provisions and upon
the terms and conditions set forth in this warrant. 
 WHEREAS, on or about December 23, 2004, the Company issued to Comerica Bank,
later assigned to Comerica, Incorporated, a warrant to purchase shares of Common Stock of the Company (as the same has been amended prior to the date hereof, the “Prior Warrant”); and 
 WHEREAS, the Company and Holder desire to amend and restate the Prior Warrant in its entirety to read as set forth below, and to accept the terms and
conditions set forth below in lieu of any and all terms and conditions of the Prior Warrant as may have been agreed upon between the Company and Holder prior to the date hereof. 
 ARTICLE 1. EXERCISE. 
 1.1 Method of Exercise. Holder may exercise this warrant by delivering
this warrant and a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth in Section 1.2, Holder shall also deliver to
the Company a check for the aggregate Warrant Price for the Shares being purchased. 
 1.2 Conversion Right. In lieu of exercising
this warrant as specified in Section 1.1, Holder may from time to time convert this warrant, in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares or other securities
otherwise issuable upon exercise of this warrant minus the aggregate Warrant Price of such Shares by (b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Section 1.4. 
 1.3 Intentionally Omitted. 
 1.4
Fair Market Value. If the Shares are traded regularly in a public market, the fair market value of the Shares shall be the average of the closing prices of the Shares (or the closing price of the Company’s stock into which the Shares are
convertible) reported over the ten trading days immediately before Holder delivers its Notice of Exercise to the Company. If the Shares are not regularly traded in a public market, the Board of Directors of the Company shall determine fair market
value in its reasonable good faith judgment. 
  

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 1.5 Delivery of Certificate and New Warrant. Promptly after Holder exercises or converts this
warrant, the Company shall deliver to Holder certificates for the Shares acquired and, if this warrant has not been fully exercised or converted and has not expired, a new warrant representing the Shares not so acquired. 
 1.6 Replacement of Warrants. 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 and amount to the Company or, in the case of mutilation, on surrender and cancellation of this warrant, the Company at its
expense shall execute and deliver, in lieu of this warrant, a new warrant of like tenor. 
 1.7 Repurchase on Sale, Merger, or
Consolidation of the Company. 
 1.7.1 “Acquisition.” For the purpose of this warrant,
“Acquisition” means (a) any sale, license, or other disposition of all or substantially all of the assets (including intellectual property) of the Company, or (b) any reorganization, consolidation, merger or sale of the voting
securities of the Company or any other transaction where the holders of the Company’s securities before the transaction beneficially own less than 50% of the outstanding voting securities of the surviving entity after the transaction.

 1.7.2 Assumption of Warrant. If upon the closing of any Acquisition the successor entity assumes the obligations of
this warrant, then this warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this warrant as if such Shares were outstanding on the record
date for the Acquisition and subsequent closing. The Warrant Price shall be adjusted accordingly. The Company shall use reasonable efforts to cause the surviving corporation to assume the obligations of this warrant. 
 1.7.3 Nonassumption. If upon the closing of any Acquisition the successor entity does not assume the obligations of this warrant
and Holder has not otherwise exercised this warrant in full, then this warrant shall be deemed to have been automatically converted pursuant to Section 1.2 and thereafter Holder shall participate in the Acquisition on the same terms as other
holders of the same class of securities of the Company. 
 ARTICLE 2. ADJUSTMENTS TO THE SHARES. 
 2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on its common stock payable in common stock, or other securities,
subdivides the outstanding common stock into a greater amount of common stock, then upon exercise of this warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would
have been entitled had Holder owned the Shares of record as of the date the dividend or subdivision occurred. 
 2.2 Reclassification,
Exchange or Substitution. Upon any reclassification, exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this warrant, Holder shall be entitled to
receive, upon exercise or conversion of this warrant, the number and kind of securities and property that Holder would have received for the Shares if this warrant had been exercised immediately before such reclassification, exchange, substitution,
or other event. The Company or its successor shall promptly issue to Holder a new warrant for such new securities or other property. The new warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the
adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new warrant. The provisions of this Section 2.2 shall similarly
apply to successive reclassifications, exchanges, substitutions, or other events. 
 2.3 Adjustments for Combinations, Etc. If the
outstanding Shares are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased. If the outstanding Shares are combined or consolidated, by reclassification or
otherwise, into a greater number of shares, the Warrant Price shall be proportionately decreased. 
  

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 2.4 Intentionally Omitted. 
 2.5 No Impairment. The Company shall not, by amendment of its Certificate of Incorporation or through a reorganization, transfer of assets,
consolidation, 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 under this warrant by the Company, but shall at all
times in good faith assist in carrying out all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights under this Article against impairment. 
 2.6 Certificate as to Adjustments. Upon each adjustment of the Warrant Price, the Company at its expense shall promptly compute such adjustment,
and furnish Holder with a certificate of its Chief Financial Officer setting forth such adjustment and the facts upon which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant
Price in effect upon the date thereof and the series of adjustments leading to such Warrant Price. 
 2.7 Fractional Shares. No
fractional Shares shall be issuable upon exercise or conversion of the 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 or conversion of the
Warrant, the Company shall eliminate such fractional share interest by paying Holder amount computed by multiplying the fractional interest by the fair market value of a full Share. 
 ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 
 3.1 Representations and Warranties.
The Company hereby represents and warrants to the Holder as follows: 
 (a) All Shares which may be issued upon the exercise
of the purchase right represented by this warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances
except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 
 (b) The
Company’s capitalization table attached to this warrant is true and complete as of the July 19, 2007. 
 3.2 Notice of Certain
Events. If the Company proposes at any time (a) to declare any dividend or distribution upon its common stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for
subscription pro rata to the holders of any class or series of its stock any additional shares of stock of any class or series or other rights; (c) to effect any reclassification or recapitalization of common stock; or (d) to merge or
consolidate with or into any other corporation, or sell, lease, license, or convey all or substantially all of its assets, or to liquidate, dissolve or wind up, then, in connection with each such event, the Company shall give Holder (1) at
least 20 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 common stock will be entitled thereto) or for determining rights
to vote, if any, in respect of the matters referred to in (a) and (b) above; and (2) in the case of the matters referred to in (c) and (d) above at least 20 days prior written notice of the date when the same will take place
(and specifying the date on which the holders of common stock will be entitled to exchange their common stock for securities or other property deliverable upon the occurrence of such event). 
 3.3 Information Rights. So long as the Holder holds this warrant and/or any of the Shares, the Company shall deliver to the Holder
(a) promptly after mailing, copies of all communiques to the shareholders of the Company, (b) within one hundred twenty (120) days after the end of each fiscal year of the Company, the annual audited financial statements of the
Company certified by independent public accountants of recognized standing and (c) within forty-five (45) days after the end of each of the first three quarters of each fiscal year, the Company’s quarterly, unaudited financial
statements. 
 3.4 Registration Under Securities Act of 1933, as amended. The Company acknowledges and agrees that Holder is entitled
to the piggyback registration rights set forth in Section 3 of that certain Amended and 

  

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Restated Registration Rights Agreement dated February 28, 2007, as the same may be amended from time to time, with respect to all of the Shares issuable
upon exercise of this Warrant. 
 REPRESENTATIONS, WARRANTIES AND COVENANTS OF HOLDER. Holder hereby represents and warrants to and for the
benefit of the Company, with knowledge that the Company is relying thereon in issuing this Warrant to Holder, as follows: 
 3.5 Purchase
Entirely for Own Account. Holder hereby confirms that this Warrant and the Shares issuable upon exercise of this Warrant (collectively, the “Securities”) shall be acquired for investment for Holder’s own account, not as a
nominee or agent, and not with a view to the resale or distribution of any part thereof, and that Holder has no present intention of selling, granting any participation in, or otherwise distributing the same; provided, however, that Holder may
transfer all or part of this Warrant and the Shares issuable upon exercise of this Warrant to its affiliates. By executing this Warrant, Holder further represents that Holder does not have any contract, undertaking, agreement or arrangement with any
person to sell, transfer or grant participation to such person or to any third person, with respect to any of the Securities. Holder represents that it has full power and authority to enter into this Warrant. 
 3.6 Investment Experience. Holder regularly lends money to companies in the development stage and acknowledges that it is able to fend for itself
and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of holding this Warrant. 
 3.7 Accredited Investor. Holder is an “accredited investor” within the meaning of Securities and Exchange Commission Rule 501 of Regulation D, as now in effect. 
 3.8 Restricted Securities. Holder understands that the Securities are characterized as “restricted securities” under the federal
securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Securities Act of
1933, as amended (the “Act”), only in certain limited circumstances. Holder represents that it is familiar with Rule 144 promulgated under the Act, as now in effect, and understands the resale limitations imposed thereby and by the
Act. 
 3.9 Market Stand-off. Holder hereby agrees that, during the period of duration specified by the Company and an underwriter of
common stock or other securities of the Company (such period not to exceed one hundred eighty (l80) calendar days), following the effective date of a registration statement of the Company filed under the Act, it shall not, to the extent requested by
the Company and such underwriter, directly or indirectly sell, offer to sell, contract to sell (including, without limitation, any short sale), grant any option to purchase or otherwise transfer or dispose of any securities of the Company held by it
at any time during such period except common stock included in such registration. The foregoing covenants shall apply only to the Company’s initial public offering of equity securities, shall not apply to the sale of any shares by Holder to an
underwriter pursuant to an underwriting agreement and shall only be applicable to Holder if all the Company’s executive officers, directors and stockholders holding at least five percent (5%) of the Company’s voting securities enter
into similar agreements. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to the securities of Holder (and the shares or securities of every other person subject to the foregoing restriction)
until the end of such period. 
 MISCELLANEOUS. 
 3.10 Term: Notice of Expiration. This warrant is exercisable in whole or in part, at any time and from time to time on or before the Expiration Date set forth above; provided, however, that if the Company
completes its initial public offering within the three-year period immediately prior to the Expiration Date, the Expiration Date shall automatically be extended until the third anniversary of the effective date of the Company’s initial public
offering. If this warrant has not been exercised prior to the Expiration Date, this warrant shall be deemed to have been automatically exercised on the Expiration Date by “cashless” conversion pursuant to Section 1.2. 
  

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 3.11 Legends. This warrant and the Shares (and the securities issuable, directly or indirectly,
upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form: 
 THIS SECURITY HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR PURSUANT TO RULE 144 OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
CORPORATION AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. 
 THIS SECURITY IS SUBJECT TO THE RESTRICTIONS ON TRANSFER OF A CERTAIN
WARRANT DATED DECEMBER 23, 2004, AS AMENDED AND RESTATED, BY AND BETWEEN THE COMPANY AND THE HOLDER THEREOF, INCLUDING WITHOUT LIMITATION CERTAIN MARKET STAND-OFF RESTRICTIONS CONTAINED IN SECTION 4.5 THEREOF. 
 3.12 Compliance with Securities Laws on Transfer. This warrant and the Shares issuable 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 (i) unless and until the transferee has agreed in writing for the benefit of the Company to be bound by all of the provisions
of this Warrant as if such transferee were the original Holder hereof, and (ii) without 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). The Company shall not require Holder to provide an opinion of counsel if the transfer is to an affiliate (as such term is defined under the Act) of Holder or if there
is no material question as to the availability of current information as referenced in Rule 144(c), Holder represents that it has complied with Rule 144(d) and (e) in reasonable detail, the selling broker represents that it has complied with
Rule 144(f), and the Company is provided with a copy of Holder’s notice of proposed sale. 
 3.13 Transfer Procedure. Subject to
the provisions of Section 4.3, Holder may transfer all or part of this warrant or the Shares issuable upon exercise of this warrant (or the securities issuable, directly or indirectly, upon conversion of the Shares, if any) by giving the
Company notice of the portion of the warrant being transferred setting forth the name, address and taxpayer identification number of the transferee and surrendering this warrant to the Company for reissuance to the transferee(s) (and Holder, if
applicable); provided, however, that Holder may transfer all or part of this warrant to its affiliates, including, without limitation, Comerica Incorporated, at any time without notice to the Company, and such affiliate shall then be entitled to all
the rights of Holder under this warrant and any related agreements, and the Company shall cooperate fully in ensuring that any stock issued upon exercise of this warrant is issued in the name of the affiliate that exercises the warrant. The terms
and conditions of this warrant shall inure to the benefit of, and be binding upon, the Company and the holders hereof and their respective permitted successors and assigns. Unless the Company is filing financial information with the SEC pursuant to
the Securities Exchange Act of 1934, the Company shall have the right to refuse to transfer any portion of this warrant to any person who directly competes with the Company. 
 3.14 Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered and effective when
given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company or the Holder, as the case may be, in writing by the Company or such Holder from time to time. All
notices to the Holder shall be addressed as follows: 
 Comerica, Incorporated 
 Attn: Warrant Administrator 
 500 Woodward Avenue, 32nd Floor, MC 3379 
 Detroit, MI 48226 
 3.15 Amendments. This warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the
party against which enforcement of such change, waiver, discharge or termination is sought. 
  

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 3.16 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. 
 3.17 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. 
 3.18 No Stockholder Rights. Except as expressly set forth herein, this warrant in and
of itself shall not entitle the Holder to any voting rights or other rights as a stockholder of the Company. 
 3.19 Amendment and
Restatement of Prior Warrant. The Prior Warrant is hereby amended in its entirety and restated herein. Such amendment and restatement is effective upon the execution and delivery of this Amended and Restated Warrant by the Company and Holder.
Upon such execution, all provisions of, rights granted and covenants made in the Prior Warrant are hereby waived, released and superseded in their entirety and shall have no further force or effect. 
  

			
	PHENOMIX CORPORATION
		
	By:	 	/s/ Chris Burnley
		
	Name:	 	Chris Burnley
		
	Title:	 	EVP & CBO

  

			
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

 Authorized signatories under Corporate Resolutions to Borrow or an authorized signer(s) under a resolution
covering warrants must sign the warrant. 
 Acknowledged and accepted: 
  

			
	COMERICA INCORPORATED
		
	By:	 	/s/ Ann M. Schwer
		
	Name:	 	Ann M. Schwer
		
	Title:	 	Vice President

  

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 APPENDIX 1 
 NOTICE OF EXERCISE 
 1. The undersigned hereby elects to purchase
             shares of the              stock of PHENOMIX CORPORATION pursuant to the terms of the attached
warrant, and tenders herewith payment of the purchase price of such shares in full. 
 1. The undersigned hereby elects to convert the
attached warrant into shares in the manner specified in the warrant. This conversion is exercised with respect to              of the shares covered by the warrant. 
 [Strike paragraph that does not apply.] 
 2. Please issue a certificate or certificates representing said shares in the name of the undersigned or in such other name as is specified below: 
 Comerica, Incorporated 
 Attn: Warrant Administrator 
 500 Woodward Avenue, 32nd Floor, MC 3379 
 Detroit, MI 48226 
 3. The undersigned represents it is acquiring the shares solely for its own account and not as a nominee for
any other party and not with a view toward the resale or distribution thereof except in compliance with applicable securities laws. 
 COMERICA,
INCORPORATED or Registered Assignee 
  

	
	
	  
	(Signature)

  

	
	
	  
	(Date)Warrant to purchase Series B preferred stock

 EXECUTION COPY 
 EXHIBIT 4.5 
 THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR ANY STATE SECURITIES LAWS.
NO SALE OR DISPOSITION MAY BE EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT REQUIRED,
(iii) RECEIPT OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 8 OF THIS WARRANT. 
 PHENOMIX CORPORATION 
 WARRANT TO PURCHASE PREFERRED STOCK 
 For value received and subject to the provisions set forth in this warrant (this “Warrant”), PINNACLE VENTURES II EQUITY
HOLDINGS, L.L.C. and its assigns are entitled to purchase from PHENOMIX CORPORATION, a Delaware corporation (the “Company”): 
  

			
	Shares of Series B Preferred Stock:	  	137,143
		
	Exercise Price:	  	$3.50
		
	Term of Warrant:	  	10 years from the Warrant Date
		
	Warrant Date:	  	November 22, 2006

 The number of Shares for which this Warrant is exercisable and the Exercise Price may be adjusted as specified in
Section 5. 
 1. Definitions. As used herein, capitalized terms not otherwise defined herein shall have the meanings set
forth in the introductory paragraph of this Warrant or the following meanings: 
 (a) “Applicable
Stock” means (i) the Company’s presently authorized series of preferred stock specified in the introductory paragraph of this Warrant, (ii) after the conversion of all of the outstanding shares of such series of preferred
stock into Common Stock, either automatically or by vote of the requisite holders thereof, the Company’s Common Stock, and (iii) upon any conversion, exchange, reclassification or change, any security into which the securities described in
clauses (i) or (ii) of this definition may be converted, exchanged, reclassified or otherwise changed. 
 (b)
“Common Stock” means the common stock of the Company. 
 (c) “Exercise Price”
means the exercise price per share of Applicable Stock specified in the introductory paragraph of this Warrant. 
 (d)
“Holder” means the initial holder of this Warrant set forth in the first paragraph of this Warrant and any other person or entity which becomes a holder of this Warrant pursuant to the terms of this Warrant. 

 (e) “Other Warrants” means any other warrants issued by the
Company in connection with the transaction with respect to which this Warrant was issued, and any warrant issued upon transfer or partial exercise of or in lieu of this Warrant. The term “Warrant” as used herein shall be deemed to include
Other Warrants unless the context clearly requires otherwise. 
 (f) “Public Acquisition” means any
consolidation or merger of the Company with another corporation, or the sale of all or substantially all of its assets to another corporation which is effected such that (1) the holders of Applicable Stock shall be entitled to receive cash or
shares of stock that are of a publicly traded company listed on a national market or exchange which may be sold without restrictions after the close of such event, (2) the Company’s stockholders own less than 50% of the voting securities
of the surviving entity and (3) either (A) the surviving entity does not assume other options or warrants of the Company or (B) at the time of such event the effective per share price for the Applicable Stock is at least three
(3) times the exercise price hereof. 
 (g) “Shares” means the shares of Applicable Stock of
Company issuable upon exercise of this Warrant. 
 (h) “Warrant Date” means the date of this Warrant
specified in the introductory paragraph of this Warrant. 
 2. Term. The right to purchase Applicable Stock upon exercise
hereof is exercisable at any time and from time to time from the Warrant Date until the earlier to occur of the following: (a) the tenth anniversary of the Warrant Date, or (b) a Public Acquisition. 
 3. Payment and Exercise. 
 (a) Methods of Exercise. The purchase right represented by this Warrant may be exercised by the Holder, in whole or in part and from time to time, at the election of the Holder, by (a) the surrender of
this Warrant (with the notice of exercise substantially in the form attached hereto as Exhibit A duly completed and executed) at the principal office of the Company and by the payment to the Company, by check, or by wire transfer to an account
designated by the Company of an amount equal to the then applicable Exercise Price multiplied by the number of Shares then being purchased (the “Aggregate Purchase Price”); (b) if in connection with a registered public
offering of the Company’s securities, the surrender of this Warrant (with the notice of exercise form attached hereto as Exhibit B duly completed and executed) at the principal office of the Company together with notice of arrangements
reasonably satisfactory to the Company for payment to the Company from the proceeds of the sale of shares to be sold by the Holder in such public offering of the Aggregate Purchase Price; or (c) exercise of the “net issuance” right
provided for in Section 3(b) hereof. The person or persons in whose name(s) any certificate(s) representing Shares of Applicable Stock shall be issuable upon exercise of this Warrant shall be deemed to have become the holder(s) of record of,
and shall be treated for all purposes as the record holder(s) of, the Shares represented thereby (and such Shares shall be deemed to have been issued) immediately prior to the close of business on the date or dates upon which this Warrant is
exercised. In the event of any exercise of the rights represented by this Warrant, certificates for the Shares so purchased shall be delivered to the Holder as soon as possible and in any event within thirty (30) days after such exercise and,
unless this Warrant has been fully exercised or expired, a new Warrant representing the portion of the Shares, if any, with respect to which this Warrant shall not then have been exercised shall also be issued to the Holder as soon as possible and
in any event within such thirty-day period; provided, however, that at such time as the Company is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, if requested by the Holder, the Company shall cause its
transfer agent to deliver the certificate representing Shares issued upon exercise of this Warrant to a broker or other person (as directed by the Holder exercising this Warrant) within the time period required to settle any trade made by the Holder
after exercise of this Warrant. 
  

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 (b) Right to Convert Warrant into Stock: Net Issuance. 
 (i) Net Issuance Right. In addition to and without limiting the rights of the Holder under the terms of this Warrant, the Holder
shall have the right to convert this Warrant or any portion thereof (the “Net Issuance Right”) into shares of Applicable Stock as provided in this Section 3(b) at any time or from time to time during the term of this
Warrant. Upon exercise of the Net Issuance Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the Holder (without payment by the Holder
of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Applicable Stock as is determined according to the following formula: 
  

									
	 X
	 	=	  	A - B	 		  	
		 		  	Y	 		  	
					
		 	Where:	  	X	 	=	  	the number of shares of Applicable Stock that shall be issued to Holder
					
		 		  	Y	 	=	  	the fair market value of one share of Applicable Stock
					
		 		  	A	 	=	  	the aggregate fair market value of the specified number of Converted Warrant Shares (i.e., the number of Converted Warrant Shares multiplied by the fair market value of one
Converted Warrant Share)
					
		 		  	B	 	=	  	the aggregate Exercise Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Net Issuance Right (i.e., the number of Converted Warrant
Shares multiplied by the Exercise Price)

 No fractional shares shall be issuable upon exercise of the Net Issuance Right, and, if the number of shares to be
issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share on the Conversion Date (as hereinafter
defined). For purposes of Section 10 of this Warrant, shares issued pursuant to the Net Issuance Right shall be treated as if they were issued upon the exercise of this Warrant. 
 (ii) Exercise of Net Issuance Right. The Net Issuance Right may be exercised by the Holder by the surrender of this Warrant at the
principal office of the Company together with a written statement (which may be in the form of Exhibit A or Exhibit B hereto) specifying that the Holder thereby intends to exercise the Net Issuance Right and indicating the number of shares
subject to this Warrant which are being surrendered (referred to in Section 3(b)(i) hereof as the Converted Warrant Shares) in exercise of the Net Issuance Right. Such conversion shall be effective upon receipt by the Company of this Warrant
together with the aforesaid written statement, or on such later date as is specified therein (the “Conversion Date”), and, at the election of the Holder, may be made contingent upon the closing of the sale of the
Company’s Common Stock to the public in a public offering (a “Public Offering”) pursuant to a Registration Statement under the Securities Act of 1933, amended (the “Act”). Certificates for the
shares issuable upon exercise of the Net Issuance Right and, if applicable, a new warrant evidencing the balance of the shares remaining subject to this Warrant, shall be issued as of the Conversion Date and shall be delivered to the Holder within
thirty (30) days following the Conversion Date. 
 (iii) Determination of Fair Market Value. For purposes of this
Section 3(b), “fair market value” of a share of Applicable Stock (which shall be Common Stock if the Applicable Stock has been converted into Common Stock) as of a particular date (the “Determination Date”)
shall mean: 
 (1) If the Net Issuance Right is exercised in connection with and contingent upon 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 the public”
specified in the final prospectus with respect to such offering. 
  

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 (2) If the Net Issuance Right is not exercised in connection with and contingent upon a
Public Offering, then as follows: 
 (A) If traded on a securities exchange, then the fair market value shall be the average
of the closing prices of the Common Stock on such exchange over the five trading days immediately prior to the Determination Date; 
 (B) If traded on the Nasdaq Stock Market or other over-the-counter system, then the fair market value shall be the average of the closing bid prices of the Common Stock over the five trading days immediately prior to the Determination Date;
and 
 (C) If there is no public market, then fair market value shall be determined in good faith by the Company’s Board
of Directors. 
 In making a determination under clauses (A) or (B) above, if on the Determination Date, five trading days have not passed since
the Company’s initial Public Offering then the fair market value of the Common Stock shall be the average closing prices or closing bid prices, as applicable, for the shorter period beginning on and including the date of the initial Public
Offering and ending on the trading day prior to the Determination Date (or if such period includes only one trading day the closing price or closing bid price, as applicable, for such trading day). If closing prices or closing bid prices are no
longer reported by a securities exchange or other trading system, the closing price or closing bid price shall be that which is reported by such securities exchange or other trading system at 4:00 p.m. New York City time on the applicable trading
day. 
 (c) Exercise Prior to Expiration. To the extent this Warrant is not previously exercised as to all of the
Shares subject hereto, and if the fair market value of one share of the Applicable Stock is greater than the Exercise Price then in effect, this Warrant shall be deemed automatically exercised pursuant to Section 3(b) (even if not surrendered)
immediately before its expiration, including but not limited to expiration pursuant to Section 2. For purposes of such automatic exercise, the fair market value of one share of the Applicable Stock upon such expiration shall be determined
pursuant to Section 3(b)(iii). To the extent this Warrant or any portion thereof is deemed automatically exercised pursuant to this Section 3(c), the Company agrees to promptly notify the Holder of the number of Shares, if any, the Holder
is to receive by reason of such automatic exercise. 
 4. Stock Fully Paid; Reservation of Shares. All Shares that may be issued upon
the exercise of the rights represented by this Warrant will, upon issuance pursuant to the terms and conditions herein, be fully paid and nonassessable, and free from all preemptive rights and taxes, liens and charges with respect to the issuance
thereof. During the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized, and reserved for the purpose of the issue upon exercise of the purchase rights evidenced by this Warrant,
a sufficient number of shares of its Applicable Stock to provide for the exercise of the rights represented by this Warrant and, while the Applicable Stock is convertible preferred stock, a sufficient number of shares of its Common Stock to provide
for the conversion of the Applicable Stock into Common Stock. 
 5. Adjustment of Exercise Price and Number of Shares. The number and
kind of securities purchasable upon the exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 
 (a) Reclassification or Merger. In case of any (i) reclassification or change of securities of the class issuable upon
exercise of this Warrant (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination), or (ii) in case of any merger of the Company with or into another
entity (other than a merger with another entity in which the Company is the acquiring and the surviving entity and which does not result in any reclassification or change of outstanding securities issuable upon exercise of this Warrant), or
(iii) in case of any sale of all or substantially all of the assets of the Company, the Company, or such successor or purchasing corporation, as 

  

 -4- 

 
the case may be, shall duly execute and deliver to the Holder a new Warrant (in form and substance reasonably satisfactory to the Holder), or the Company
shall make appropriate provision without the issuance of a new Warrant, so that the Holder shall have the right to receive upon exercise of this Warrant, at a total purchase price not to exceed that payable upon the exercise of the unexercised
portion of this Warrant, and in lieu of the shares of Applicable Stock theretofore issuable upon exercise of this Warrant, the kind and amount of shares of stock, other securities, money and property receivable upon such reclassification, change,
merger or sale by a holder of the number of shares of Applicable Stock then purchasable under this Warrant. The provisions of this Section 5(a) shall similarly apply to successive reclassifications, changes, mergers and sales. 
 (b) Subdivision or Combination of Shares. If the Company at any time while this Warrant remains outstanding and unexpired shall
subdivide or combine its outstanding shares of Applicable Stock, the Exercise Price shall be proportionately decreased and the number of Shares issuable hereunder shall be proportionately increased in the case of a subdivision and the Exercise Price
shall be proportionately increased and the number of Shares issuable hereunder shall be proportionately decreased in the case of a combination. 
 (c) Stock Dividends and Other Distributions. If the Company at any time while this Warrant is outstanding and unexpired shall (i) pay a dividend with respect to Applicable Stock payable in Applicable
Stock, then the Exercise Price shall be adjusted, from and after the date of determination of shareholders entitled to receive such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to
such date of determination by a fraction (A) the numerator of which shall be the total number of shares of Applicable Stock outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the total
number of shares of Applicable Stock outstanding immediately after such dividend or distribution; or (ii) make any other distribution with respect to Applicable Stock (except any distribution specifically provided for in Sections 5(a) and
5(b)), then, in each such case, provision shall be made by the Company such that the Holder shall receive upon exercise of this Warrant a proportionate share of any such dividend or distribution as though it were the holder of the Applicable Stock
as of the record date fixed for the determination of the shareholders of the Company entitled to receive such dividend or distribution. 
 (d) Adjustment of Number of Shares. Upon each adjustment in the Exercise Price, the number of Shares of Applicable Stock purchasable hereunder shall be adjusted, to the nearest whole share, to the product
obtained by multiplying the number of Shares purchasable immediately prior to such adjustment in the Exercise Price by a fraction, the numerator of which shall be the Exercise Price immediately prior to such adjustment and the denominator of which
shall be the Exercise Price immediately thereafter. 
 (e) Antidilution Rights. The other antidilution rights
applicable to the Shares of Applicable Stock purchasable hereunder are set forth in the Company’s Certificate of Incorporation, as amended through the Warrant Date, a true and complete copy of which is attached hereto as Exhibit C (the
“Charter”). The Company shall promptly provide the Holder with any restatement, amendment, modification or waiver of the Charter that affects such antidilution rights promptly after the same has been made. 
 6. Notice of Adjustments. Whenever the Exercise Price or the number of Shares purchasable hereunder shall be adjusted pursuant to Section 5
hereof, the Company shall make a certificate signed by its chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the
Exercise Price and the number of Shares purchasable hereunder after giving effect to such adjustment, and shall cause copies of such certificate to be delivered to the Holder. In addition, whenever the conversion price or conversion ratio of the
Applicable Stock shall be adjusted, the Company shall make a certificate signed by its chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment
was calculated, and the conversion price or ratio of the Applicable Stock after giving effect to such adjustment, and shall cause copies of such certificate to be delivered to the Holder. 
  

 -5- 

 7. Fractional Shares. No fractional shares of Applicable Stock will be issued in connection with
any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Applicable Stock on the date of exercise as reasonably determined in good faith by the Company’s
Board of Directors. 
 8. Compliance with Act; Disposition of Warrant or Shares of Applicable Stock. 
 (a) Compliance with Act. The Holder, by acceptance hereof, agrees that this Warrant, and the shares of Applicable Stock to be
issued upon exercise hereof and any Common Stock issued upon conversion thereof are being acquired for investment and that the Holder will not offer, sell or otherwise dispose of this Warrant, or any shares of Applicable Stock to be issued upon
exercise hereof or any Common Stock issued upon conversion thereof except under circumstances which will not result in a violation of the Act or any applicable state securities laws. Upon exercise of this Warrant, unless the Shares being acquired
are registered under the Act and any applicable state securities laws or an exemption from such registration is available, the Holder shall confirm in writing that the shares of Applicable Stock so purchased (and any shares of Common Stock issued
upon conversion thereof) are being acquired for investment and not with a view toward distribution or resale in violation of the Act and shall confirm such other matters related thereto as may be reasonably requested by the Company. This Warrant and
all shares of Applicable Stock issued upon exercise of this Warrant (unless registered under the Act and any applicable state securities laws) shall be stamped or imprinted with a legend in substantially the following form: 
 “THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION
MAY BE EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT OF NO-ACTION
LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 8 OF THE WARRANT UNDER WHICH THESE SECURITIES WERE ISSUED, DIRECTLY OR INDIRECTLY.” 
 Said legend shall be removed by the Company, upon the request of the Holder, at such time as the restrictions on the transfer of the applicable security shall have
terminated. 
 (b) Disposition of Warrant or Shares. With respect to any offer, sale or other disposition of this
Warrant or any shares of Applicable Stock acquired pursuant to the exercise of this Warrant prior to registration of such Warrant or shares, the Holder agrees to give written notice to the Company prior thereto, describing briefly the manner
thereof, together with a written opinion of counsel, if requested by the Company, or other evidence, if reasonably satisfactory to the Company, to the effect that such offer, sale or other disposition may be effected without registration or
qualification (under the Act as then in effect or any federal or state securities law then in effect) of this Warrant or such shares of Applicable Stock and indicating whether or not under the Act certificates for this Warrant or such shares of
Applicable Stock to be sold or otherwise disposed of require any restrictive legend as to applicable restrictions on transferability in order to ensure compliance with such law. Upon receiving such written notice and reasonably satisfactory opinion
or other evidence, the Company, as promptly as practicable but no later than fifteen (15) days after receipt of the written notice, shall notify the Holder that the Holder may sell or otherwise dispose of this Warrant or such shares of
Applicable Stock, all in accordance with the terms of the notice delivered to the Company. If a determination has been made pursuant to this Section 8(b) that the opinion of counsel or other evidence is not reasonably satisfactory to the
Company, the Company shall so notify the Holder promptly with details thereof after such determination has been made. Notwithstanding the foregoing, this Warrant or such shares of Applicable Stock may, as to such federal laws, be offered, sold or
otherwise disposed of in accordance with Rule 144 or 144A under the Act, provided that the Company shall have been furnished with such information as the Company may reasonably request to provide a reasonable assurance that the provisions of
Rule 144 or 144A have been satisfied. Each certificate representing this Warrant or the shares of Applicable Stock thus transferred (except a transfer pursuant to Rule 144 or 144A) shall bear a legend as to the applicable 

  

 -6- 

 
restrictions on transferability in order to ensure compliance with such laws, unless in the aforesaid opinion of counsel for the Holder, such legend is not
required in order to ensure compliance with such laws. The Company may issue stop transfer instructions to its transfer agent in connection with such restrictions. 
 (c) Applicability of Restrictions. Neither any restrictions of any legend described in this Warrant nor the requirements of
Section 8(b) above shall apply to any transfer of, or grant of a security interest in, this Warrant (or the Applicable Stock or Common Stock obtainable upon exercise thereof) or any part hereof (i) to a partner of the Holder if the Holder
is a partnership or to a member of or other holder of an interest in the Holder if the Holder is a limited liability company, (ii) to a partnership of which the Holder is a partner or to a limited liability company of which the Holder is a
member or other holder of an interest, or (iii) to any affiliate of the Holder if the Holder is a corporation; provided, however, in any such transfer, if applicable, the transferee shall on the Company’s request agree in
writing to be bound by the terms of this Warrant as if an original holder hereof. 
 9. Rights as Shareholders; Information. No
Holder, as a holder of this Warrant, shall be entitled to vote or receive dividends or be deemed the holder of Applicable Stock or any other securities of the Company which may at any time be issuable upon the exercise hereof for any purpose, nor
shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a shareholder of the Company or any right to vote for the election of directors or upon any matter submitted to shareholders at any meeting
thereof, or to receive dividends or subscription rights or otherwise until this Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. Notwithstanding the foregoing,
the Company will transmit to the Holder such information, documents and reports as are generally distributed to the holders of any class or series of the securities of the Company concurrently with the distribution thereof to the shareholders.

 10. Registration Rights. The Company grants registration rights to the Holder for any Applicable Stock of the Company (after its
conversion to Common Stock) obtained upon exercise of this Warrant, comparable to the registration rights granted to the investors in that certain Amended and Restated Registration Rights Agreement dated as of April 14, 2005 (the
“Investor Rights Agreement”), with the following exceptions and clarifications: 
 (1) The Holder will
have not have the right to any demand registration (other than a registration on Form S-3 or any successor form pursuant to Section 2.2 of the Investor Rights Agreement), but shall have piggyback registration rights in accordance with Article 3
of the Investor Rights Agreement. 
 (2) The Holder will be subject to the same provisions regarding indemnification as
contained in the Investor Right Agreement. 
 (3) The registration rights are freely assignable by the Holder in connection
with a permitted transfer of this Warrant or the Shares. 
 (4) The Holder will be bound by the terms of the Market Stand-off
provision contained in Section 11 of the Investor Rights Agreement, provided that the Holder’s obligations under this Section 10 shall be conditioned upon all officers, directors and holders of one percent (1%) or more of
the outstanding capital stock of the Company entering into similar agreements with the Company and such managing underwriter and shall not apply to the sale of securities to an underwriter pursuant to an underwriting agreement; and provided
further, that any early release of the lock-up provisions in this Section 10 shall be shared by all applicable holders of capital stock of the Company on a pro rata basis. 
 11. Notice Rights. 
 (a) Acquisition Transactions. The Company shall provide the Holder with at least twenty (20) days’ written notice prior to closing thereof of the terms and conditions of any of the following transactions (to 

  

 -7- 

 
the extent the Company has notice thereof): (i) the sale, lease, exchange, conveyance or other disposition of all or substantially all of the
Company’s property or business, or (ii) its merger into or consolidation with any other corporation (other than a wholly-owned subsidiary of the Company), or any transaction (including a merger or other reorganization) or series of related
transactions, in which more than 50% of the voting power of the Company is disposed of. 
 (b) Dividends and
Repurchases. The Company shall provide the Holder with at least ten (10) days notice prior to the record date of any cash dividend with respect to or offer to repurchase the Applicable Stock. 
 (c) Liquidation. The Company shall provide the Holder with at least ten (10) days notice prior to any voluntary or involuntary
dissolutions, liquidation or winding-up of the Company. 
 12. Representations and Warranties. The Company represents and warrants to
the Holder as follows: 
 (a) This Warrant has been duly authorized and executed by the Company and is a valid and binding
obligation of the Company enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific performance,
injunctive relief and other equitable remedies. 
 (b) The Shares 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 and free from preemptive rights. 
 (c) The rights, preferences, privileges and restrictions granted to or imposed upon the Applicable Stock and the holders thereof are as set forth in the Charter, and on the Warrant Date, each share of the Applicable
Stock represented by this Warrant is convertible into one share of Common Stock. 
 (d) The shares of Common Stock issuable
upon conversion of the Shares have been duly authorized and reserved for issuance by the Company and, when issued in accordance with the terms of the Charter will be validly issued, fully paid and nonassessable. 
 (e) The execution and delivery of this Warrant are not, and the issuance of the Shares upon exercise of this Warrant in accordance with
the terms hereof will not be, inconsistent with the Company’s Charter or by-laws, do not and will not contravene any law, governmental rule or regulation, judgment or order applicable to the Company, and do not and will not conflict with or
contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument of which the Company is a party or by which it is bound or require the consent or approval of, the giving of notice to, the
registration or filing with or the taking of any action in respect of or by, any Federal, state or local government authority or agency or other person, except for the filing of notices pursuant to federal and state securities laws, which filings
will be effected by the time required thereby. 
 (f) There are no actions, suits, audits, investigations or proceedings
pending or, to the knowledge of the Company, threatened against the Company in any court or before any governmental commission, board or authority which, if adversely determined, could have a material adverse effect on the ability of the Company to
perform its obligations under this Warrant. 
 (g) The number of shares of Common Stock of the Company outstanding on the date
hereof, on a fully diluted basis (assuming the conversion of all outstanding convertible securities and the exercise of all outstanding options and warrants), does not exceed 17,500,000 shares. 
  

 -8- 

 13. Modification and Waiver. This Warrant and any provision hereof may be changed, waived,
discharged or terminated only by an instrument in writing signed by the party against which enforcement of the same is sought. 
 14.
Notices. Any notice, request, communication or other document required or permitted to be given or delivered to the Holder or the Company shall be delivered, or shall be sent by certified or registered mail, postage prepaid, or overnight
courier or delivered personally to the Holder at its address as shown on the books of the Company or to the Company at the address indicated therefor on the signature page of this Warrant. 
 15. Binding Effect on Successors. This Warrant shall be binding upon any corporation succeeding the Company by merger, consolidation or
acquisition of all or substantially all of the Company’s assets, and all of the obligations of the Company relating to the Applicable Stock issuable upon the exercise or conversion of this Warrant shall survive the exercise, conversion and
termination of this Warrant and all of the covenants and agreements of the Company shall inure to the benefit of the successors and assigns of the Holder. 
 16. Lost Warrants or Stock Certificates. The Company covenants to the Holder that, upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant
or any stock certificate and, in the case of any such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to the Company, or in the case of any such mutilation upon surrender and cancellation of such Warrant or stock
certificate, the Company will make and deliver a new Warrant or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant or stock certificate. 
 17. Descriptive Headings. The descriptive headings of the various Sections of this Warrant are inserted for convenience only and do not constitute
a part of this Warrant. The language in this Warrant shall be construed as to its fair meaning without regard to which party drafted this Warrant. 
 18. Governing Law. This Warrant shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the laws of the State of California. 
 19. Survival of Representations, Warranties and Agreements. All representations and warranties of the Company and the Holder contained herein
shall survive the Warrant Date, the exercise or conversion of this Warrant (or any part hereof) or the termination or expiration of rights hereunder. All agreements of the Company and the Holder contained herein shall survive indefinitely until, by
their respective terms, they are no longer operative. 
 20. Remedies. In case any one or more of the covenants and agreements
contained in this Warrant shall have been breached, the Holder (in the case of a breach by the Company), or the Company (in the case of a breach by the Holder), may proceed to protect and enforce their or its rights either by suit in equity and/or
by action at law, including, but not limited to, an action for damages as a result of any such breach and/or an action for specific performance of any such covenant or agreement contained in this Warrant. 
 21. No Impairment of Rights. The Company will not, by amendment of its Charter or through any other means, avoid or seek to avoid the observance
or 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
against impairment. 
 22. Severability. The invalidity or unenforceability of any provision of this Warrant in any jurisdiction shall
not affect the validity or enforceability of such provision in any other jurisdiction, or affect any other provision of this Warrant, which shall remain in full force and effect. 
 23. Recovery of Litigation Costs. If any legal action or other proceeding is brought for the enforcement of this Warrant, or because of an alleged
dispute, breach, default, or misrepresentation in connection with any of the provisions of this Warrant, the successful or prevailing party or parties shall be 

  

 -9- 

 
entitled to recover reasonable attorneys’ fees and other costs incurred in that action or proceeding, in addition to any other relief to which it or
they may be entitled. 
 24. Entire Agreement; Modification. This Warrant constitutes the entire agreement between the parties
pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations, and undertakings of the parties, whether oral or written, with respect to such subject matter. 
  

 -10- 

 The Company has caused this Warrant to be duly executed and delivered as of the Warrant Date specified
above. 
  

			
	PHENOMIX CORPORATION
		
	By:	 	/s/ Laura K. Shawver
	Name:	 	Laura K. Shawver, Ph.D.
	Title:	 	President & Chief Executive Officer
	Address:	 	 Phenomix Corporation
 5871 Oberlin Drive, Suite 200

 San Diego, CA 92121

  

 -11- 

 EXHIBIT A 
 NOTICE OF EXERCISE 
  

	To:	PHENOMIX CORPORATION (the “Company”) 

 1. The
undersigned hereby: 
  

	 	 ̈	elects to purchase              shares of [Applicable Stock] [Common Stock] of the Company pursuant to the terms
of the attached Warrant, and tenders herewith payment of the purchase price of such shares in full, or 

  

	 	 ̈	elects to exercise its net issuance rights pursuant to Section 3(b) of the attached Warrant with respect to
             Shares of [Applicable Stock] [Common Stock]. 

 2. Please issue a certificate or certificates representing              shares in the name of the undersigned or in such other name or names as are specified below:

  

	
	  
	  

 (Name) 
  

	
	
	  
	
	  
	
	  
	
	  

 (Address) 
 3. The undersigned represents that the aforesaid shares are being acquired for the account of the undersigned for investment and not with a view to, or for resale in connection with, the distribution thereof and that
the undersigned has no present intention of distributing or reselling such shares, all except as in compliance with applicable securities laws. 
  

	
	
	
	  
	(Signature)

  

			
	 	 	
	(Date)	 	

 EXHIBIT B 
 NOTICE OF EXERCISE 
  

	To:	PHENOMIX CORPORATION (the “Company”) 

 1.
Contingent upon and effective immediately prior to the closing (the “Closing”) of the Company’s public offering contemplated by the Registration Statement on Form S    , filed
                    , 200  , the undersigned hereby: 
  ̈ elects to purchase
                     shares of [Applicable Stock] [Common Stock] of the Company (or such lesser number of shares as may be sold on behalf of
the undersigned at the Closing) pursuant to the terms of the attached Warrant, or 
  ̈ elects to exercise
its net issuance rights pursuant to Section 3(b) of the attached Warrant with respect to                      Shares of [Applicable
Stock] [Common Stock]. 
 2. Please deliver to the custodian for the selling shareholders a stock certificate representing such
                     shares. 
 3.
The undersigned has instructed the custodian for the selling shareholders to deliver to the Company $                      or, if less, the
net proceeds due the undersigned from the sale of shares in the aforesaid public offering. If such net proceeds are less than the purchase price for such shares, the undersigned agrees to deliver the difference to the Company prior to the Closing.

  

	
	
	
	  
	(Signature)

  

			
	 	 	
	(Date)	 	

 EXHIBIT C 
 CHARTER

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