Document:

Certificate of Designation

  
 Exhibit 4.2 
  
 CERTIFICATE OF DESIGNATION 
  
 OF SERIES A
CONVERTIBLE PREFERRED STOCK OF 
  
 OCCAM NETWORKS, INC. 
  
 
 
 Pursuant to Section 151 of the General 
 Corporation Law of the State of Delaware 
  
 
 
 I, Howard M. Bailey, do hereby certify: 
  
 1.     That I am the duly elected and acting Chief Financial Officer and Secretary of Occam Networks, Inc., a Delaware corporation (the “Corporation”). 
  
 2.     That pursuant to the authority conferred upon the Board of Directors by the Corporation’s Amended and
Restated Certificate of Incorporation of the Corporation (the “Certificate of Incorporation”), the Board of Directors of the Corporation formed a Special Committee of the Board of Directors which, on December 16, 2002, adopted the
following resolution creating a series of 2,000,000 shares of Preferred Stock designated as Series A Convertible Preferred Stock as required by Section 151 of the General Corporation Law of the State of Delaware: 
  
 RESOLVED, that pursuant to the authority granted to and vested in the Special Committee of the Board of Directors of the
Corporation in accordance with the provisions of the Certificate of Incorporation, the Special Committee hereby creates a series of Preferred Stock of the Corporation, par value $0.001 per share, and hereby states the designation and number of
shares and fixes the relative rights, preferences, privileges, and limitations thereof, as follows: 
  
 1.     Definitions. 
  
 (a)     “Series A
Liquidation Preference” shall mean an amount equal to $7.50 per share of Series A Preferred Stock (as adjusted for any stock split, stock dividend or distribution, recapitalizations, and similar events) plus an amount equal to all declared
but unpaid dividends on each share of Series A Preferred Stock. 
  
 (b)     “Conversion
Price” shall mean the amount determined by multiplying 1.25 by the average of all Closing Prices (rounded to the fourth decimal) over the ten Trading Days immediately prior to (but not including) the date of the first sale and issuance of
Series A Preferred Stock. 
  
 (c)     “Closing Price” shall mean (A) if the
Common Stock is then listed for trading on a national securities exchange or the Nasdaq National Market, the closing sales price for one share of Common Stock or (B) if the Common Stock is actively traded over-the-counter, the average of the closing
bid and ask price for one share of the Corporation’s Common Stock. 

  
 (d)     “Automatic Conversion Date” shall
mean the first date on which both (i) Stockholder Approval has been obtained and (ii) the amendment to the Corporation’s Certification of Incorporation approved by the Stockholder Approval has been filed. 
  
 (e)     “Stockholder Approval” shall mean approval by the Corporation’s stockholders of an
amendment to the Certificate of Incorporation to increase the number of authorized shares of Common Stock such that, upon such approval, the Corporation would then have authorized and available for issuance a sufficient number of shares of Common
Stock to permit the conversion of all then outstanding shares of Series A Preferred Stock into Common Stock at the Conversion Price and the exercise and/or conversion of all other options, warrants and convertible securities of the Corporation
(outstanding or reserved). 
  
 (f)     “Trading Day” shall mean a day on which
the Nasdaq National Market is open for trading. 
  
 (g)     “Series A Redemption
Price” shall mean the Series A Liquidation Preference plus interest from the date on which the first share of Series A Preferred Stock is issued at a rate of 8% of the Series A Liquidation Preference, computed on the basis of the actual
number of days elapsed and a year of 365 days. 
  
 2.     Designation and Amount. The
shares of such series shall be designated as “Series A Convertible Preferred Stock” (the “Series A Preferred Stock”) and the number of shares constituting Series A Preferred Stock shall be 2,000,000. Such number of shares
may be increased or decreased by resolution of the Board of Directors, provided, that no decrease shall reduce the number of shares of Series A Preferred Stock to a number less than the number of shares then outstanding plus the number of
shares reserved for issuance upon the exercise of outstanding options, rights or warrants or upon the conversion of any outstanding securities issued by the Corporation that are convertible into Series A Preferred Stock. 
  
 3.     Dividends. No dividends shall accrue or be payable in respect of the Series A Preferred Stock;
provided, however, in the event the Corporation shall pay any dividend on the Common Stock (other than a dividend payable solely in shares of Common Stock or other securities and rights solely convertible into or entitling the holder
thereof to receive, directly or indirectly, additional shares of Common Stock), the holders of Series A Preferred Stock (as of the record date fixed for the determination of holders of Common Stock entitled to receive such dividend) shall be
entitled to receive an equivalent dividend based on the number of shares Common Stock issuable upon conversion of the Series A Preferred Stock pursuant to Section 6(a) below, which dividend shall be paid to the holders of the Series A Preferred
Stock at the same time that the corresponding dividend is paid on the Common Stock. 
  
 4.    
Liquidation Preference. 
  
 (a)     In the event of any liquidation, dissolution, or
winding up of the Corporation (a “Liquidation”), either voluntary or involuntary, distributions to the stockholders of the Corporation shall be made in the following manner: 

 
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 (i)     The holders of the Series A Preferred Stock shall be
entitled to receive for each share of Series A Preferred Stock then held by them, prior and in preference to any distribution of any of the assets or surplus funds of the Corporation to the holders of Common Stock, by reason of their ownership
thereof, an amount equal to the greater of (i) the Series A Liquidation Preference plus interest from the date on which the first share of Series A Preferred Stock is issued at a rate of 8% of the Series A Liquidation Preference, computed on the
basis of the actual number of days elapsed and a year of 365 days and (ii) the amount to which a holder of Series A Preferred Stock would be entitled for each share of Series A Preferred Stock if immediately prior to the Liquidation such share of
Series A Preferred Stock (together with all other outstanding shares of Series A Preferred Stock) were converted to Common Stock in the manner described in Section 6 hereof. If, upon occurrence of such event, the assets and funds distributed among
the holders of the Series A Preferred Stock are insufficient to permit the payment to such holders of the full preferential amount, then the entire assets and funds of the Corporation legally available for distribution shall be distributed pro rata
among the holders of the Series A Preferred Stock based on the number of shares of Series A Preferred Stock held by each such holder. 
  
 (ii)     After giving effect to the provisions of Section 4(a)(i), all of the remaining assets of the Corporation shall be distributed to the holders of Common Stock pro-rata based on the number of shares
of Common Stock held by each. 
  
 (b)     For purposes of this Section 4, either of the following
shall be treated as a Liquidation: (i) a reorganization, consolidation, merger or similar transaction of the Corporation with or into any other entity or entities (but excluding any merger effected solely for purposes of reincorporating the
Corporation in another jurisdiction), or the merger or other similar transaction of any other entity or entities into the Corporation, in which the stockholders of the Corporation, immediately prior to such merger or other transaction hold,
immediately after such merger or other transaction, less than a majority of the outstanding voting securities of the surviving or successor corporation or its parent or (ii) a sale of all or substantially all of the assets of the Corporation. Such
liquidation payment shall be in the same form of consideration (with cash, securities and other property in the same proportion) as the holders of the Common Stock are entitled to receive and in no event will the holders of the Preferred Stock be
entitled to cash payment upon liquidation unless the holder of the Common Stock are entitled to receive cash upon such liquidation. 
  
 (c)     If any assets of the Corporation distributed to stockholders in connection with a Liquidation of the Corporation are other than cash, then the value of such assets shall be their fair market value
as reasonably determined in good faith by the Board of Directors, except that any publicly-traded securities to be distributed to stockholders in a Liquidation of the Corporation shall be valued as follows: 
  
 (i)       If the securities are then traded on a national securities exchange or the Nasdaq Stock Market
(or a similar national quotation system), then the value of the securities shall be deemed to be to the average of the closing prices of the securities on such exchange or system over the ten trading day period ending five trading days prior to the
distribution; 
  
 (ii)     if the securities are actively traded over-the-counter, then the
value of the securities shall be deemed to be the average of the closing bid prices of the securities over the ten trading day period ending five trading days prior to the distribution. 

 
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 In the event of a merger or other acquisition of the Corporation by another
entity, the date of the distribution shall be deemed to be the date such transaction closes. 
  
 5.     Redemption. The Corporation shall not have the right to call or redeem at any time any shares of Series A Preferred Stock. 
  
 6.     Conversion. 
  
 (a)     Automatic Conversion. In no event shall the Series A Preferred Stock be convertible into Common Stock prior to the time Stockholder Approval has been obtained. On the Automatic Conversion Date, each
outstanding share of Series A Preferred Stock shall be automatically converted, without any action on the part of the holder thereof, into that number of shares of Common Stock determined by dividing the Series A Liquidation Preference by the
Conversion Price. In the event of the automatic conversion of the Series A Preferred Stock pursuant to this Section 6(a), the Series A Preferred Stock shall be deemed to have been immediately converted into Common Stock on the Automatic Conversion
Date. 
  
 (b)     Mechanics of Conversion. No fractional shares of Common Stock shall be
issued upon conversion of Series A Preferred Stock. In lieu of any fractional share to which a holder (after aggregating all shares held by such holder) would otherwise be entitled, the Corporation shall pay cash equal to such fraction (rounded to
the nearest second decimal) multiplied by the average of all Closing Prices over the ten Trading Days immediately prior to (but not including) the Automatic Conversion Date. In the event of an automatic conversion pursuant to Section 6(a), the
Corporation shall provide notice thereof to the holders of the Series A Preferred Stock, and the outstanding shares of Series A Preferred Stock shall be converted automatically without any further action by the holder of such shares and whether or
not the certificates representing such shares are surrendered to the transfer agent for such Series A Preferred Stock. The Corporation shall not be obligated to issue certificates evidencing the shares of Common Stock issuable upon such automatic
conversion unless the certificates evidencing such Series A Preferred Stock are delivered to the transfer agent for such Series A Preferred Stock as provided above, or the holder notifies the Corporation and the transfer agent for such Series A
Preferred Stock that such certificates have been lost, stolen or destroyed and executes an agreement, in customary form, reasonably satisfactory to the corporation and such transfer agent to indemnify the Corporation and such transfer agent from any
loss incurred by it in connection with such lost, stolen, or destroyed certificates. The Corporation shall use commercially reasonable efforts to cause its transfer agent, as soon as practicable, but not later than 60 days thereafter, to issue and
deliver to such address as the holder may direct, a certificate or certificates for the number of shares of Common Stock to which such holder shall be entitled. 
  
 (c)     Adjustments to Conversion Price. 
  
 (i)     Adjustments for Subdivisions or Combinations of or Stock Dividends on Common Stock. In the event the outstanding shares of Common Stock shall be subdivided (by stock split or otherwise) at any time
after the filing of this Certificate of Designation of Series A Convertible Preferred Stock, into a greater number of shares of Common Stock, or the Corporation shall at any time or from time to time after the date of such filing, declare or pay any
dividend on the Common Stock payable in shares of Common Stock, the Conversion Price then in effect shall, concurrently with the effectiveness of such subdivision or stock dividend, be proportionately 

 
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 decreased based on the amount of such subdivision or stock dividend. In the event the outstanding shares
of Common Stock shall be combined or consolidated, by reclassification or otherwise, into a lesser number of shares of Common Stock, the Conversion Price then in effect shall, concurrently with the effectiveness of such combination or consolidation,
be proportionately increased based on the amount of such combination or consolidation. 
  
 (ii)       Adjustments for Other Distributions. In the event the Corporation at any time or from time to time after the filing of this Certificate of Designation of Series A Convertible Preferred
Stock, makes, or fixes a record date for the determination of holders of Common Stock entitled to receive, any dividend or distribution payable in (A) securities of the Corporation or other entities (other than shares of Common Stock and other than
as otherwise adjusted in this Section 6 or as otherwise provided in Section 3), (B) evidences of indebtedness issued by the Corporation or other persons, or (C) assets (excluding cash dividends) or options or rights, then and in each such event
provision shall be made so that the holders of Series A Preferred Stock shall receive upon conversion thereof, in addition to the number of shares of Common Stock receivable thereupon, the amount of such dividend or distribution which they would
have received had their Series A Preferred Stock been converted into Common Stock on the date of such event and had they thereafter, during the period from the date of such event to and including the date of conversion, retained such securities
receivable by them as aforesaid during such period, subject to all other adjustments called for during such period under this Section 6 with respect to the rights of the holders of the Series A Preferred Stock. 
  
 (iii)     Adjustments for Recapitalization, Reclassification, Exchange and Substitution. If at any time or
from time to time after the filing of this Certificate of Designation of Series A Convertible Preferred Stock, the Common Stock issuable upon conversion of the Series A Preferred Stock shall be changed into the same or a different number of shares
of any other class or classes of stock, whether by recapitalization, capital reorganization, reclassification or otherwise (other than a subdivision, combination of shares or merger or sale of assets transaction provided for above or in Section
4(b)), the Conversion Price then in effect shall, concurrently with the effectiveness of such recapitalization, reorganization or reclassification, be proportionately adjusted such that the Series A Preferred Stock shall be convertible into, in lieu
of the number of shares of Common Stock which the holders thereof would otherwise have been entitled to receive, a number of shares of such other class or classes of stock equivalent to the number of shares of Common Stock that would have been
subject to receipt by the holders upon conversion of Series A Preferred Stock immediately before that change. In addition, to the extent applicable in any reorganization or recapitalization, provision shall be made so that the holders of the Series
A Preferred Stock shall thereafter be entitled to receive upon conversion of the Series A Preferred Stock the number of shares of stock or other securities or property of the Corporation or otherwise, to which a holder of Common Stock deliverable
upon conversion would have been entitled on such reorganization or recapitalization. 
  
 (d)    
No Impairment. Except as authorized by the affirmative vote or written consent of the holders of not less than a majority of the then outstanding shares of the Series A Preferred Stock, the Corporation will not, by amendment of the
Certificate of Incorporation or through any 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 hereunder by the Corporation, but will at all times in good 

 
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 faith assist in the carrying out of all the provisions of this Section 6 and in the taking of all such
action as may be necessary or appropriate in order to protect the conversion rights of the holders of Series A Preferred Stock. 
  
 (e)     Certificate as to Adjustments. Upon the occurrence of each adjustment or readjustment of the Conversion Price pursuant to this Section 6, the Corporation at its expense shall promptly compute such
adjustment or readjustment in accordance with the terms hereof and furnish to each holder of Series A Preferred Stock a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or
readjustment is based. The Corporation shall, upon the written request at any time of any holder of Series A Preferred Stock, furnish or cause to be furnished to such holder a like certificate setting forth (i) such adjustments and readjustments,
(ii) the respective Conversion Price at the time in effect, and (iii) the number of shares of Common Stock and the amount, if any, of other property which at the time would be received upon the conversion of the Series A Preferred Stock.

  
 7.     Covenants. In addition to any other rights provided by law, so long as any of
the Series A Preferred Stock shall be outstanding, the Corporation shall not, without first obtaining the affirmative vote or written consent of the holders of not less than a majority of the then outstanding voting power of the Series A Preferred
Stock: 
  
 (a)     amend or repeal any provision of, or add any provision to, the
Corporation’s Certificate of Incorporation or Bylaws if such action would adversely alter or change the preferences, rights, privileges, or powers of, or the restrictions provided for the benefit of, any of the Series A Preferred Stock;

  
 (b)     pay or declare any dividend on any shares of Common Stock or apply any of its assets
to the redemption, retirement, purchase or acquisition directly or indirectly, through subsidiaries or otherwise, of any shares of capital stock of the Corporation, (i) except as expressly permitted herein and (ii) except from employees, directors
or consultants of the Corporation upon termination of employment or association pursuant to the terms of restricted stock purchase agreements providing for the repurchase of such shares at cost entered into with such employees or consultants at the
time of issuance. 
  
 8.     Voting Rights. Except as otherwise required by law, the
holders of Series A Preferred Stock shall be entitled to notice of any stockholders’ meeting and to vote together with the holders of Common Stock as a single class upon any matter submitted to the stockholders for a vote. Each holder of Series
A Preferred Stock shall have one vote for each full share of Common Stock into which the Series A Preferred Stock would be convertible pursuant to Section 6(a) hereof as of the record date fixed for the determination of the holders of Common Stock
of the Corporation entitled to such vote. 
  
 9.     Reacquired Shares. Any shares of
Series A Preferred Stock purchased or otherwise acquired by the Corporation in any manner whatsoever shall be retired and cancelled promptly after the acquisition thereof. All such shares shall upon their cancellation become authorized but unissued
shares of preferred stock of the Corporation and may be reissued as part of a new series of preferred stock subject to the conditions and restrictions on issuance set forth herein, in the Certificate of 

 
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 Incorporation, or in any other Certificate of Designation creating a series of preferred stock of the
Corporation or any similar stock or as otherwise required by applicable law. 
  
 10.    
Residual Rights. All rights accruing to the outstanding shares of the Corporation not expressly provided for to the contrary herein shall be vested in the Common Stock. 
  
 [Remainder of Page Intentionally Left Blank] 
  

 
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 IN WITNESS WHEREOF, Occam Networks, Inc. has caused this Certificate of
Designation to be executed by Howard M. Bailey, its Secretary and Chief Financial Officer, this 19th day
of December, 2002. 
  
 
	 OCCAM NETWORKS, INC.
 
	 
	 /s/ Howard M. Bailey
 

	 Howard M. Bailey
 

 
  
  
  
  
  
  
  
  
  
  
 Signature Page to Certificate of Designation of Series A Convertible Preferred Stock of Occam Networks, Inc.Investors' Rights Agreement

  
 Exhibit 4.3 
  
 OCCAM NETWORKS, INC. 
  
 INVESTORS’
RIGHTS AGREEMENT 
  
 This Investors’ Rights Agreement (this “Agreement”) is made and
entered into as of December 19, 2002 by and among Occam Networks, Inc., a Delaware corporation (the “Company”), and the undersigned purchasers of Series A Preferred Stock of the Company (the “Investors”).

  
 Recitals 
  
 WHEREAS, the Investors are parties to the Series A Preferred Stock Purchase Agreement of even date herewith, among the Company and the Investors (the “Purchase Agreement”);

  
 WHEREAS, as an inducement to the Investors to make an investment in the Company and enter into the Purchase
Agreement, the Company has agreed to grant the Investors certain rights as set forth in this Agreement. 
  
 NOW,
THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereto agree as follows: 
  
 1.    Definitions. As used in this Agreement: 
  
         (a)    “Common Stock” shall mean the Company’s common stock, par value $0.001 per share. 
  

        (b)    “Closing” shall mean the date of the initial sale of shares of the
Company’s Series A Preferred Stock. 
  
         (c)    “Exchange Act” shall mean the United States Securities Exchange Act of 1934, as amended. 
  
         (d)    “Holder” shall mean (i) an Investor or (ii) a
transferee to whom registration rights granted under this Agreement are assigned in accordance with this Agreement. 
  
         (e)    “New Securities” shall mean any capital stock (including Common Stock and/or Preferred Stock) of the Company whether now authorized or not,
and rights, options or warrants to purchase such capital stock, and securities of any type whatsoever that are, or may become, convertible into such capital stock and that are issued after the Closing, provided, however, that “New
Securities” shall in no event be deemed to include: (i) any shares of capital stock, including any rights, options, or warrants to purchase shares of capital stock, that have been subject to the rights contained in Section 12 of this Agreement
where such rights have either been exercised or waived or have expired in accordance with this Agreement; (ii) any securities issued pursuant to the Purchase Agreement; (iii) any shares of the Company’s capital stock issued or issuable upon
conversion of the Series A Preferred Stock or any other right, option, or warrant outstanding as of the date of this Agreement (provided such other right, option, or warrant is described in Section 3.3 

 
 1 

 of the Purchase Agreement) to acquire shares of the Company’s capital stock; (iv) securities issued by the Company in one or more
transactions which the securities issued in the transaction or transactions have been unanimously approved by directors present at a properly noticed meeting of the board of directors or unanimously approved by a written consent of the directors as
securities that should not be deemed to be “New Securities”; (v) securities offered to the public by the Company pursuant to a registration statement filed under the Securities Act; (vi) securities issued to customers, commercial partners
(including technology partners), vendors, lenders, and equipment lessors of the Company, other than in a transaction whose principal purpose is to raise additional working capital for the Company, unanimously approved by directors present at a
properly noticed meeting of the board of directors or unanimously approved by a written consent of the directors; (vii) securities issued in connection with the Company’s acquisition of any business, product, or technology by way of merger,
asset purchase, reorganization, or other means, unanimously approved by directors present at a properly noticed meeting of the board of directors or unanimously approved by a written consent of the directors; (viii) shares of Common Stock (or
options, warrants or rights therefor) granted or issued hereafter to employees, officers, directors, contractors, consultants or advisers to, the Company or any subsidiary pursuant to incentive agreements, stock purchase or stock option plans, stock
bonuses or awards, warrants, contracts or other arrangements that are approved by the Company’s board of directors or by the compensation committee of the board of directors; and (ix) securities issued in connection with any proportionate stock
split, stock dividend or distribution, recapitalization, or similar event by the Company. 
  
         (f)    The terms “register,” “registered,” and “registration” refer to a registration effected by preparing and
filing a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration statement. 
  
         (g)    “Registration Expenses” shall mean all expenses incurred in effecting any registration pursuant to this
Agreement, including, without limitation, all registration, qualification, and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company, blue sky fees and expenses, and expenses of any regular or special audits
incident to or required by any such registration, and the reasonable fees and disbursements of one counsel for the Holders. 
  
         (h)    “Registrable Securities” shall mean for each Holder, (i) the shares of Common Stock of the Company issued to such Holder upon the conversion
of the Series A Preferred Stock, and (ii) any Common Stock issued as a dividend or other distribution with respect to or in exchange for or in replacement of the shares referenced in (i) above; provided, however, that such shares of
Common Stock shall cease to be Registrable Securities at such time as (i) they have been registered for resale pursuant to a prospectus included in the effective registration statement contemplated pursuant to Section 2 hereof, which registration
statement has been effective for the period specified in Section 2(b), or (ii) they are otherwise available for resale under Rule 144 of the Securities Act within a single 90 day period. 
  
         (i)    “SEC” shall mean the United States Securities and Exchange Commission.

  
         (j)    “Securities Act”
shall mean the United States Securities Act of 1933, as amended. 

 
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         (k)    “Series A Preferred Stock”
shall mean the Series A Convertible Preferred Stock of the Company, par value $0.001 per share. 
  
         (l)    “Selling Expenses” shall mean all underwriting discounts, selling commissions and stock transfer taxes applicable to the sale of Registrable
Securities. 
  
         (m)    “Significant
Holder” shall mean a Holder who holds at least 66,667 shares of Series A Preferred Stock (subject to adjustments for stock splits, stock dividends, reverse stock splits and the like), or at least such number of shares of Common Stock as
were issued upon conversion of 66,667 shares of Series A Preferred Stock (each subject to adjustments for stock splits, stock dividends, reverse stock splits and the like). 
  
 2.    Holder Registration. 
  
         (a)    If at any time after the first anniversary of the Closing, the Company shall receive from any Holder or Holders who in the aggregate hold not less
than 50% of the outstanding Registrable Securities a written request that the Company effect any registration for the Registrable Securities, the Company will use commercially reasonable efforts to cause the Registrable Securities held by the
Holders to be registered under the Securities Act so as to permit the resale thereof, and in connection therewith shall prepare and file with the SEC within 60 days of its receipt of such request a registration statement on such form as may then be
available to effect the registration of the Registrable Securities. The offerings made pursuant to such registration shall not be underwritten. 
  
         (b)    The Company shall (i) prepare and file with the SEC the registration statement in accordance with Section 2 hereof with
respect to the Registrable Securities and shall use commercially reasonable efforts to cause such registration statement to become effective as promptly as practicable after filing and to keep such registration statement effective until the sooner
to occur of (A) the date on which all Registrable Securities included within such registration statement have been sold; (B) the date on which Holders of all Registrable Securities are able to sell such Registrable Securities immediately without
restriction pursuant to the volume limitation provisions of Rule 144 under the Securities Act, provided, however, that the Company shall provide each Holder with 10 trading days’ notice before rescinding the effectiveness of such
registration statement pursuant to this subparagraph 2(b)(i)(B); or (C) two years following the effective date of the registration statement; (ii) prepare and file with the SEC such amendments to such registration statement and amendments or
supplements to the prospectus used in connection therewith as may be necessary to comply with the provisions of the Securities Act with respect to the sale or other disposition of all Registrable Securities to be registered by such registration
statement; (iii) furnish to each Holder such number of copies of any prospectus (including any amended or supplemented prospectus) in conformity with the requirements of the Securities Act, and such other documents, as such Holder may reasonably
request in order to effect the offering and sale of the Registrable Securities to be offered and sold, but only while the Company shall be required under the provisions hereof to cause the registration statement to remain effective; (iv) use
commercially reasonable efforts to register or qualify the Registrable Securities covered by such registration statement under the securities or blue sky laws of such jurisdictions as each Holder shall reasonably request (provided that the Company
shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such jurisdiction where 

 
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 it has not been qualified), and do any and all other acts or things which may be necessary or advisable to enable each Holder to consummate the
public sale or other disposition of such Registrable Securities in such jurisdictions; and (v) notify each Holder, promptly after it shall receive notice thereof, of the date and time the registration statement and each post-effective amendment
thereto has become effective or a supplement to any prospectus forming a part of such registration statement has been filed. 
  
 3.    Piggyback Registration. 
  
         (a)    The Company may from time to time determine to register for sale shares of Common Stock for its own account, other than (i) a registration relating solely to
employee benefit plans or (ii) a registration relating solely to a transaction pursuant to Rule 145 promulgated under the Securities Act, and in connection with such determination, shall file with the SEC a registration statement to register such
Common Stock (a “Registered Sale”). In the event of such determination, the Company will give to each Holder written notice thereof at least 20 days (but not more than 60 days) prior to the filing of such registration statement, and
will include in the Registered Sale (and any related qualification under blue sky laws or other related compliance) all the Registrable Securities specified by the Holders in their written request or requests to the Company, made within 15 days
after receipt of such written notice from the Company, subject, however, to the marketing limitation set forth in subsection (b) below. If the registration statement under which the Company gives notice under this subsection (a) is for an
underwritten offering, the Company shall so advise the Holders. A Registered Sale, including (if applicable) the form of underwriting agreement to be entered into by the Company, the underwriter(s) and any selling stockholders, shall be on customary
terms. The underwriter(s) for an underwritten offering shall be selected by the Company in its sole discretion. 
  
         (b)    The right of any Holder to registration pursuant to this section shall be conditioned upon such Holder’s participation in the Registered Sale and the
inclusion of Registrable Securities in the Registered Sale to the extent provided herein. All Holders shall (together with the Company and the other holders distributing their securities through the Registered Sale) enter into an underwriting
agreement in customary form with the managing underwriter. Notwithstanding any other provision of this section, if the managing underwriter determines that marketing factors require a limitation of the number of shares to be underwritten, the
managing underwriter may limit the Registrable Securities to be included in such registration and underwriting; provided, however, that (i) all shares that are not Registrable Securities and are held by other selling stockholders,
including, without limitation, persons who are employees or directors of the Company (or any subsidiary of the Company), shall first be excluded from such registration and underwriting before any Registrable Securities are so excluded and (ii) all
securities requested to be included by the Holders shall share pro rata in the number of shares to be excluded from such registration, such sharing to be based on the respective numbers of shares owned by each stockholder and that if required, all
the Registrable Securities may be excluded from such registration. In such event, the Company shall so advise all Holders of Registrable Securities which would otherwise be registered pursuant hereto, and the number of shares of Registrable
Securities that may be included in the registration shall be allocated among the Holders in proportion, as nearly as practicable, to the respective amounts of Registrable Securities requested to be included by such Holders in accordance with
subsection (a) above. To facilitate the allocation of shares in accordance with the above provision, the Company or the 

 
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 underwriters may round the number of shares allocated to any Holder to the nearest 100 shares. If any Holder disapproves of the terms of the
Registered Sale, he or she may elect to withdraw therefrom by written notice to the Company and the managing underwriter. If a Holder decides not to include all of its Registrable Securities in any registration statement filed by the Company, such
Holder shall nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement as may be filed by the Company, all upon the terms hereof. 
  
         (c)    Termination of Piggyback Rights. Notwithstanding any other provision of this Agreement,
the Company’s obligations pursuant to this Section 3 shall terminate at such time as the registration statement contemplated pursuant to Section 2(a) has become effective. 
  
 4.    Right to Terminate Registration. The Company shall have the right to terminate or withdraw any registration initiated by it under Section 3
prior to the effectiveness of the registration whether or not any Holder has elected to include securities in such registration. 
  
 5.    Notice to the Company; Suspension of Prospectus. Each Holder shall provide the compliance officer designated by the Company with written notice at least two business days prior to any transfer, sale
or other disposition of Registrable Securities under any registration statement filed pursuant to this Agreement (a “Requesting Holder”). The Company may by written notice to such Requesting Holder delivered within two business days
of receipt of such notice restrict the proposed offer, sale, transfer, or disposition of such Registrable Securities if the Company, in its reasonable judgment, has determined that such transactions would require public disclosure by the Company of
material non-public information that is not included in such registration. The notice referred to in the preceding sentence shall set forth the Company’s good faith estimate of the number of days during which the Requesting Holder is to refrain
from the proposed offer, sale, transfer of disposition of Registrable Securities. Upon receipt of such notice, the Requesting Holder agrees not to effect any offer, sale, transfer, or other disposition of Registrable Securities pursuant to such
registration statement for the period of days set forth in the Company’s notice. In the event the Requesting Holder is able to effect a transfer, sale or other disposition as requested prior to the date the Company estimated, the Company shall
provide an updated notice to the Requesting Holder. In any event, in the event of a delivery of the note described above by the Company, for a period of 15 trading days following the expiration of the time period stated in the notice, a Holder may
effect an offer, sale, transfer or other disposition of Registrable Securities without restriction under this Section 5. Notwithstanding the foregoing, the Company may not, without the consent of the holders of a majority of the then-outstanding
Registrable Securities, restrict the transfer, sale or other disposition of the Registrable Securities under any registration statement filed pursuant to this Agreement for more than 20 consecutive trading days or 90 trading days during any 365-day
period. 
  
 6.    Indemnification. 
  

        (a)    The Company will indemnify and hold harmless each Holder, each of its officers, directors,
partners, members, stockholders, legal counsel and any underwriter (as defined in the Securities Act) for the Holder, and each person controlling such Holder or underwriter within the meaning of Section 15 of the Securities Act, with respect to
which registration, qualification or compliance has been effected pursuant to this Agreement against all expenses, claims, losses, damages or liabilities (or actions in respect thereof), including any of the foregoing incurred in 

 
 5 

 settlement of any litigation, commenced or threatened, arising out of or based on any untrue statement (or alleged untrue statement) of a
material fact contained in any registration statement, prospectus, offering circular or other document, or any amendment or supplement thereto, incident to any such registration, qualification or compliance, or based on any omission (or alleged
omission) to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, or any violation by the Company of the Securities Act or the
Exchange Act or any rule or regulation promulgated thereunder applicable to the Company or any state securities law applicable to the Company in connection with any such registration, qualification or compliance, and the Company will reimburse (on
an as incurred basis), each Holder, each of its officers, directors, partners, members, and each person controlling such Holder, for any reasonable legal and other expenses incurred in connection with investigating, preparing or defending any such
claim, loss, damage, liability or action; provided, however, that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability or expense arises out of or is based on any untrue statement
or omission or alleged untrue statement or omission, made in reliance upon and in conformity with written information with regard to a Holder furnished to the Company by such Holder for use by the Company in connection with a registration as
required by Section 8 hereof; and provided further, however, that the Company will not be liable to any such person or entity with respect to any such untrue statement or omission or alleged untrue statement or omission made in
any preliminary prospectus that is corrected in the final prospectus filed with the SEC pursuant to Rule 424(b) promulgated under the Securities Act (or any amendment or supplement to such prospectus) if the person asserting any such loss, claim,
damage or liability purchased securities but was not sent or given a copy of the prospectus (as amended or supplemented) at or prior to the written confirmation of the sale of such securities to such person in any case where such delivery of the
prospectus (as amended or supplemented) is required by the Securities Act, unless such failure to deliver the prospectus (as amended or supplemented) was a result of the Company’s failure to provide such prospectus (as amended or supplemented).

  
         (b)    Each Holder shall indemnify the
Company, each of its directors and officers and each person who controls the Company within the meaning of Section 15 of the Securities Act against all claims, losses, damages, and liabilities (or actions in respect thereof) arising out of or based
on any untrue statement (or alleged untrue statement) of a material fact contained in any such registration statement, prospectus, offering circular or other document, or any omission (or alleged omission) to state therein a material fact required
to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, and will reimburse the Company and such directors, officers and partners and members, persons, or control
persons of the Company for any reasonable legal or other expenses incurred in connection with investigating or defending any such claim, loss, damage, liability or action, in each case to the extent, but only to the extent, that such untrue
statement (or alleged untrue statement) or omission (or alleged omission) is made in such registration statement, prospectus, offering circular or other document in reliance upon and in conformity with written information with regard to the Holder
furnished to the Company by such Holder for use by the Company in connection with a registration as required by Section 8 hereof. The liability of a Holder under this Section 6(b) shall not exceed the proceeds from the offering received by such
Holder, prior to deduction of any commissions, transfer taxes or other selling expenses incurred with respect to such sale. 

 
 6 

         (c)    Each party entitled to indemnification under
this Section 6 (the “Indemnified Party”) shall give notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any claim as to
which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom, provided, that counsel for the Indemnifying Party, who shall conduct the defense of such
claim or litigation, shall be approved by the Indemnified Party (whose approval shall not unreasonably be withheld), and the Indemnified Party may participate in such defense at such party’s expense, and provided further,
however, that the failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Section 6 unless the failure to give such notice is materially prejudicial to an
Indemnifying Party’s ability to defend such action (and then only to the extent of such prejudice). No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent to
entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. Any
Indemnified Party shall reasonably cooperate with the Indemnifying Party in the defense of any claim or litigation brought against such Indemnified Party. 
  
         (d)    If the indemnification provided for in this Section 6 is for any reason not available to an Indemnified Party with respect to
any loss, liability, claim, damage, or expense referred to therein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party hereunder, shall contribute to the amount paid or payable by such Indemnified Party as a result of such
loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one hand and of the Indemnified Party on the other in connection with the statements or omissions that
resulted in such loss, liability, claim, damage or expense as will as any other relevant equitable considerations. The relative fault of the Indemnifying Party and of the Indemnified Party shall be determined by reference to, among other things,
whether the untrue or the alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the Indemnifying Party or by the Indemnified Party and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or omission. The liability of a Holder under this Section 6(d) shall not exceed the proceeds from the offering received by such Holder, prior to deduction of any commissions,
transfer taxes or other selling expenses incurred with respect to such sale. 
  
 7.    Expenses. The Company shall bear all Registration Expenses incurred in connection with (i) any registration, qualification or compliance pursuant to Section 2 hereof and (ii) up to two registrations
declared effective by the SEC pursuant to Section 3 hereof. All Selling Expenses relating to securities so registered shall be borne by the holders of such securities pro rata on the basis of the number of shares of securities so registered on their
behalf, provided, that any applicable taxes with respect to stock sold by a particular Holder shall be borne entirely by such Holder. 
  
 8.    Information by Holder. Each Holder shall furnish to the Company such information regarding such Holder, the Registrable Securities held by it, the manner in which such
Holder holds any securities of the Company and the distribution proposed by such Holder as the Company may request in writing and as shall be required in connection with any registration, qualification or compliance referred to in this Agreement.

 
 7 

 9.    Reports Under the Exchange Act. With a view to making available to the Holders the
benefits of Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration, the Company agrees to use commercially reasonable efforts to: 

 
         (a)    make and keep public information available, as those
terms are understood and defined in Rule 144, at all times after the date hereof; 
  
         (b)    file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act; and 

 
         (c)    furnish to any Holder, so long as the Holder owns
any Registrable Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of Rule 144, the Securities Act and the Exchange Act, (ii) a copy of the most recent annual or quarterly
report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested to avail any Holder of any rule or regulation of the SEC that permits the selling of any such
securities without registration or pursuant to such form. 
  
 10.    Limitation on Assignment
of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this Agreement may not be assigned or transferred, except that such right is assignable by each Holder to (i) an “affiliate” of such
Holder (as defined in Rule 12b-2 under the Exchange Act), or (ii) to a partner, active or retired of such Holder. As a condition to any permitted transfer hereunder, such transferee shall agree in writing for the benefit of the Company to be bound
by this Agreement. 
  
 11.    Limitation on Subsequent Registration Rights. From and after
the date of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the Registrable Securities then outstanding (or, in the event the Series A Preferred Stock has not yet converted into Common Stock,
the holders of the majority of the Series A Preferred Stock then outstanding), enter into any agreement with any holder or prospective holder of any securities of the Company which would allow such holder or prospective holder (a) to include such
securities in any registration filed under Section 2 or Section 3 hereof, unless under the terms of such agreement, such holder or prospective holder may include such securities in any such registration only to the extent that the inclusion of his
securities will not reduce the amount of the Registrable Securities of the Holders which are included, or (b) to make a demand registration which could result in such registration statement being declared effective prior to the date that is 120 days
after the effective date of a registration effected pursuant to Section 2 hereof. 
  
 12.    Right of Participation. The Company hereby grants to each Significant Holder the right to purchase its pro rata share of any New Securities which the Company may, from time to time, propose to sell
and issue. A Significant Holder’s pro rata share, for purposes of this right of participation, is the ratio of the number of shares of Common Stock issuable or issued upon conversion of the Series A Preferred Stock owned by such Significant
Holder immediately prior to the issuance of New Securities, to the total number of shares of Common Stock outstanding as 

 
 8 

 reported in the Company’s most recent Form 10-K or Form 10-Q, as the case may be, filed with the SEC under the Exchange Act. This right to
participate shall be subject to the following provisions: 
  
         (a)    In the event the Company proposes to undertake an issuance of New Securities, it shall give each Significant Holder written notice of its bona fide intention,
describing the type of New Securities, and their price and the general terms upon which the Company proposes to issue the same. Each Significant Holder shall have ten days after any such notice is effective as determined pursuant to Section 19(b)
hereof to agree to purchase such Significant Holder’s pro rata share of such New Securities for the price and upon the terms specified in the notice by giving written notice to the Company and stating therein the quantity of New Securities to
be purchased. 
  
         (b)    In the event the
Significant Holders fail to exercise fully the right to participate within said ten day period, the Company shall have 90 days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be
closed, if at all, within 30 days from the date of said agreement) to sell the New Securities respecting which the Significant Holders’ right to participate set forth herein was not exercised, at a price and upon terms no more favorable to the
purchasers thereof than specified in the Company’s notice to Significant Holders pursuant to subsection (a) above. In the event the Company has not sold within such 90 day period or entered into an agreement to sell the New Securities in
accordance with the foregoing within 30 days from the date of said agreement, the Company shall not thereafter issue or sell any New Securities, without first again offering such securities to the Significant Holders in the manner provided in
subsection (a) above. 
  
 13.    Limitation on Assignment of Right to Participate. The
rights of the Significant Holders to participate in sales of New Securities may not be assigned or transferred, except that such right is assignable by each Significant Holder to (i) an “affiliate” of such Significant Holder (as defined in
Rule 12b-2 under the Exchange Act) or (ii) to a partner (active or retired), parent, child or spouse of such Holder, or to a trust for the direct or indirect benefit of any of the foregoing, provided, that in the case of either (i) or (ii)
such transferee together with its affiliates holds after such transfer at least 66,667 shares of Series A Preferred Stock or at least the number of shares of Common Stock as were issued upon conversion of 66,667 shares of Series A Preferred Stock
(subject, in each case, to adjustments for stock splits, stock dividends, reverse stock splits and the like). 
  
 14.    Termination of Right to Participate. The rights of the Significant Holders to participate in sales of New Securities shall terminate upon the earlier of (i) the second anniversary of the Closing, or
(ii) when such Holder ceases to be a Significant Holder. 
  
 15.    Transfer Restrictions of
the Series A Preferred Stock and the Registrable Securities. Each Holder agrees not to sell or otherwise make any disposition or transfer of all or any portion of any shares of Series A Preferred Stock until such time as the Series A Preferred
Stock has been automatically converted into Common Stock. Each Holder further agrees not to sell or otherwise make any disposition or transfer of all or any portion of the Registrable Securities after such conversion except (i) to an
“affiliate” of such Holder (as defined in Rule 12b-2 under the Exchange Act), or (ii) to a partner (active or retired), parent, child or spouse of such Holder, or to a trust for the direct or indirect benefit of any of the foregoing (and
in each case under subsection (i) and (ii) 

 
 9 

 hereof, as a condition to transfer, such transferee shall agree in writing for the benefit of the Company to be bound by this Agreement), or
unless: 
  
         (a)    There is then in effect a
registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or 
  
         (b)    Such Holder shall have notified the Company of the proposed disposition and shall have furnished
the Company with a detailed statement of the circumstances surrounding the proposed disposition, and, such Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not
require registration of such shares under the Securities Act. 
  
 Notwithstanding the foregoing, a Holder may,
without restriction, transfer all or any portion of such Holder’s Series A Preferred Stock or Registrable Securities (i) pursuant to a statutory merger or statutory consolidation of the Company with or into another corporation or corporations
in which the stockholders of the Company receive distributions in cash or securities of another entity or entities as a result of such transaction, and in which the stockholders of the Company, immediately prior to such merger or consolidation hold,
immediately after such merger or consolidation, less than a majority of the outstanding voting securities of the surviving or successor corporation or its parent, (ii) pursuant to the winding up and dissolution of the Company or (iii) pursuant to a
registration effected in accordance with Section 2 or Section 3 hereof. 
  
 16.    Restrictive
Legends. Each certificate representing Registrable Securities shall (unless otherwise permitted by the provisions of this Agreement) be stamped or otherwise imprinted with a legend substantially similar to the following (in addition to any
legend required under applicable state securities laws): 
  
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL SATISFACTORY TO THE
ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT. 
  
 COPIES OF THE AGREEMENT COVERING THE PURCHASE OF THESE SHARES AND RESTRICTING THEIR VOTING AND TRANSFER MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS CERTIFICATE TO THE SECRETARY OF THE COMPANY AT
THE PRINCIPAL EXECUTIVE OFFICE OF THE COMPANY. 
  
 17.    Market Stand-Off Agreement. Each
Investor and any permitted transferee hereunder agrees, in connection with the first registration of the Company’s securities in connection with an 

 
 10 

 underwritten public offering following the date hereof, upon request of the Company or the underwriters managing any underwritten offering of
the Company’s securities, not to sell, make any short sale of, loan, grant any option for the purchase of or otherwise dispose of any securities of the Company without the prior written consent of the Company or such underwriters, as the case
may be, for such period of time (not to exceed 180 days) from the effective date of such registration as the Company or the underwriters may specify; provided that (i) all officers and directors of the Company then holding capital stock of the
Company and (ii) all stockholders holding in the aggregate at least 5% of the fully-diluted equity of the Company are bound by similar agreements. The foregoing restriction shall not apply to any securities of the Company held by an Investor that
are included in such registration. Each Investor agrees that the Company may instruct its transfer agent to place stop-transfer notations in its records to enforce the provisions of this Section. This Section 17 shall not apply to the sale of any
shares to an underwriter pursuant to an underwriting agreement. Notwithstanding any other provision of this Agreement, the Company may assign the obligations of each Investor under this Section 17 to any underwriter of the Company’s securities.

  
 18.    Covenant Against Indebtedness. The Company agrees, for a period of two years
after the Closing, that the approval of the Holders of two-thirds of the then outstanding “Investor Securities” (as defined below) will be required for: (i) any debt financing, including convertible debt financings, in excess of $750,000,
in the aggregate, other than (a) financing for the purchase or lease of capital equipment that is secured by the capital equipment, (b) accounts receivable financing that is secured by the accounts receivable of the Company or (c) normal trade debt;
or (ii) any grant of a security interest in the intellectual property of the Company. “Investor Securities” shall mean the Series A Preferred Stock issued pursuant to the Purchase Agreement and any Common Stock issued upon
conversion thereof, or as a dividend, distribution, exchange or replacement in respect thereof, provided, however, that “Investor Securities” shall not include any shares of Common Stock that are transferred to a person or entity that is
not an “Investor” under the Purchase Agreement or a partner (including former partners) or affiliate of the same. 
  
 19.    Miscellaneous. 
  
         (a)    Third Parties. Nothing in this Agreement, express or implied, is intended to confer upon any party, other than the parties to this Agreement, and their
respective successors and assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement. 
  
         (b)    Governing Law. This Agreement shall be construed in accordance with, and governed in all respects by, the laws of the State of California, regardless
of the laws that might otherwise govern under applicable principles of conflicts of laws thereof. With respect to any disputes arising out of or related to this Agreement, the parties consent to the exclusive jurisdiction of, and venue in, the state
courts in the County of Santa Clara in the State of California (or in the event of exclusive federal jurisdiction, the courts of the Northern District of California). 
  
         (c)    Severability. If one or more provisions of this Agreement are held to be unenforceable
under applicable law, portions of such provisions, or such provisions in their entirety, to the extent necessary, shall be severed from this Agreement, and the balance of this Agreement shall be enforceable in accordance with its terms.

 
 11 

         (d)    Notices. All notices and other
communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid, sent by facsimile, or otherwise delivered by hand or by messenger addressed: 
  
                 (i)    if to an
Investor, at the Investor’s address or facsimile number as shown on Exhibit A to the Purchase Agreement; or 
  
                 (ii)    if to the Company, at its address at 77 Robin Hill Road, Santa Barbara, California 93117 or facsimile number
at (805) 692-2999 and addressed to the attention of the President, or at such other address or facsimile number as the Company shall have furnished to the Investors; with a copy to Wilson Sonsini Goodrich & Rosati, Professional Corporation at
650 Page Mill Road, Palo Alto, California 94304-1050 and addressed to the attention to Thomas C. DeFilipps and Robert F. Kornegay. 
  
 Each such notice or other communication shall for all purposes of this Agreement be treated as effective or having been given when delivered if delivered personally, or, if sent by mail, at the earlier of its receipt or 72
hours after the same has been deposited in a regularly maintained receptacle for the deposit of the United States mail, addressed and mailed as aforesaid or, if sent by facsimile, upon confirmation of facsimile transfer. Any party may amend its
address for receipt of notice by delivering written instructions to the other party in accordance with this Section 19(d). 
  
         (e)    Amendment and Waiver. This Agreement may be amended, or any provision waived, only upon the written consent of the Company and a majority-in-interest
of the Holders, provided, however, that any amendment to, or waiver under, (i) Sections 12, 13 or 14 shall require the written consent of the Company, a majority-in-interest of the Significant Holders, and (ii) Section 18 shall require
the written consent of the Company and holders of two-thirds of the then-existing Investor Securities; and provided further, however, that any amendment adversely affecting one or more Holders or Significant Holders, as
applicable, but does not so affect all Holders or Significant Holders, as applicable, then any such adversely affected Holder or Significant Holder must agree to be bound by such amendment. Each of the parties hereto acknowledges and agrees that the
Company proposes to issue and sell additional Series A Preferred Stock and that any purchaser of such Series A Preferred Stock shall become a Holder pursuant to this Agreement and a party hereto upon execution of an additional signature page by the
Company and such purchaser, without any requirement on the part of the Company to seek consent or approval of the Holders. 
  
         (f)    Confidentiality. Anything in this Agreement to the contrary notwithstanding, no Holder by reason of this Agreement shall have access to any trade
secrets or classified information of the Company. Each Holder acknowledges that the information received by them pursuant to this Agreement may be confidential and for its use only, and it will not use such confidential information in violation of
the Exchange Act or reproduce, disclose or disseminate such information to any other person (other than its employees or agents having a need to know the contents of such information who are subject to confidentiality obligations to such Holder, and
its attorneys), except in connection with the exercise of rights under this Agreement, unless the Company has made such information available to the public generally or such Holder is required to disclose such information by a governmental
authority. 

 
 12 

         (g)    Counterparts. This Agreement may be
executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
  
         (h)    Telecopy Execution and Delivery. A facsimile, telecopy or other reproduction of this Agreement may be executed by one
or more parties hereto, and an executed copy of this Agreement may be delivered by one or more parties hereto by facsimile or similar electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and such
execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute an original of this Agreement as well as any facsimile, telecopy or other reproduction
hereof. 
  
 ***** 

 
 13 

 IN WITNESS WHEREOF, the parties hereto have executed this Investors’ Rights Agreement effective as of the day and
year first above written. 
  
 
	 OCCAM NETWORKS, INC.
 a Delaware corporation
 
	 
	 By:
 	 	 /s/  Howard M. Bailey    
 

	 Name:
 	 	 Howard M. Bailey
 
	 Title:
 	 	 Chief Financial Officer
 

 

 

 
	 “INVESTOR”
 
	 
	 U.S. Venture Partners VII, L.P.
 
	 2180 Associates Fund VII, L.P.
 
	 USVP Entrepreneur Partners VII-A, L.P.
 
	 USVP Entrepreneur Partners VII-B, L.P.
 
	 By Presidio Management Group VII, L.L.C.
 
	 The General Partner of Each
 
	 
	 By:
 	 	 /s/    Michael P. Maher
 
	  	 	 

	 Name:
 	 	 Michael P. Maher
 
	  	 	 

	 Title:
 	 	 Attorney-In-Fact
 
	  	 	 

	 
	 U.S. Venture Partners V, L.P.
 
	 USVP V International, L.P.
 
	 2180 Associates Fund V, L.P.
 
	 USVP V Entrepreneur Partners, L.P.
 
	 By Presidio Management Group V, L.L.C.
 
	 The General Partner of Each
 
	 
	 By:
 	 	 /s/    Michael P. Maher
 
	  	 	 

	 Name:
 	 	 Michael P. Maher
 
	  	 	 

	 Title:
 	 	 Attorney-In-Fact
 
	  	 	 

 

 
	 “INVESTOR”
 
	 
	 New Enterprise Associates 9, L.P.
 
	 By:
 	 	 NEA Partners 9, L.P.
 
	  	 	 Its General Partner
 
	 
	 By:
 	 	 /s/    Nancy Dorman
 
	  	 	 

	 Name:
 	 	 Nancy Dorman
 
	  	 	 

	 Title:
 	 	 General Partner
 
	  	 	 

	 
	 Norwest Venture Partners VIII, L.P.
 
	 NVP Entrepreneurs Fund VIII, L.P.
 
	 
	 By:
 	 	  
	  	 	 

	 Name:
 	 	  
	  	 	 

	 Title:
 	 	  
	  	 	 

 

 
	 “INVESTOR”
 
	 
	 New Enterprise Associates 9, L.P.
 
	 By:
 	 	 NEA Partners 9, L.P.
 
	  	 	 Its General Partner
 
	 
	 By:
 	 	  
	  	 	 

	 Name:
 	 	  
	  	 	 

	 Title:
 	 	  
	  	 	 

	 
	 Norwest Venture Partners VIII, L.P.
 
	 NVP Entrepreneurs Fund VIII, L.P.
 
	 
	 By:
 	 	 /s/    George Still
 
	  	 	 

	 Name:
 	 	 George Still
 
	  	 	 

	 Title:
 	 	 Managing Partner
 
	  	 	 

 

 
	 “INVESTOR”
 
	 
	  
	 

	 (Name of Investor)
 
	 
	  
	 

	 (Signature)
 
	 
	  
	 

	 (Name and title of signatory, if applicable)

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