Document:

First Supplemental Indenture dated April 11, 2018

 Exhibit 4.2 

FIRST SUPPLEMENTAL INDENTURE 

Dated as of April 11, 2018 

to 
 INDENTURE 

Dated as of April 11, 2018 

Between 
 C.H. ROBINSON WORLDWIDE,
INC. 
 as Issuer 
 and 

U.S. BANK NATIONAL ASSOCIATION, 

as Trustee 
  

 
 4.200% Notes due 2028 

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE 1 . DEFINITIONS
	  	 	1	 
			
	 Section 1.1
	 	 Definition of Terms
	  	 	1	 
		
	 ARTICLE 2 TERMS AND CONDITIONS OF NOTES
	  	 	1	 
			
	 Section 2.1
	 	 Designation and Principal Amount
	  	 	1	 
			
	 Section 2.2
	 	 Maturity
	  	 	1	 
			
	 Section 2.3
	 	 Further Issues
	  	 	2	 
			
	 Section 2.4
	 	 Payment
	  	 	2	 
			
	 Section 2.5
	 	 Global Securities
	  	 	2	 
			
	 Section 2.6
	 	 Interest
	  	 	2	 
			
	 Section 2.7
	 	 Authorized Denominations
	  	 	2	 
			
	 Section 2.8
	 	 Redemption; Purchase and Sinking Fund
	  	 	3	 
			
	 Section 2.9
	 	 Ranking
	  	 	3	 
			
	 Section 2.10
	 	 Appointments
	  	 	3	 
			
	 Section 2.11
	 	 Defeasance
	  	 	3	 
			
	 Section 2.12
	 	 Guarantees
	  	 	3	 
		
	 ARTICLE 3 FORM OF NOTES
	  	 	3	 
			
	 Section 3.1
	 	 Form of Notes
	  	 	3	 
		
	 ARTICLE 4 ADDITIONAL COVENANTS
	  	 	3	 
			
	 Section 4.1
	 	 Restrictions on Secured Debt
	  	 	3	 
			
	 Section 4.2
	 	 Restrictions on Sales and Leasebacks
	  	 	5	 
			
	 Section 4.3
	 	 Certain Definitions
	  	 	6	 
		
	 ARTICLE 5 ORIGINAL ISSUE OF NOTES
	  	 	7	 
			
	 Section 5.1
	 	 Original Issue of Notes
	  	 	7	 
		
	 ARTICLE 6 MISCELLANEOUS
	  	 	7	 
			
	 Section 6.1
	 	 Ratification of Indenture
	  	 	7	 
			
	 Section 6.2
	 	 Governing Law
	  	 	7	 
			
	 Section 6.3
	 	 Separability
	  	 	7	 
			
	 Section 6.4
	 	 Counterparts
	  	 	7	 

  
 i 

 FIRST SUPPLEMENTAL INDENTURE 

FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated as of April 11, 2018, between C.H. Robinson
Worldwide, Inc., a Delaware corporation (the “Company”), having its principal place of business at 14701 Charlson Road, Eden Prairie, Minnesota 55347, and U.S. Bank National Association, a national banking association duly organized
and validly existing under the laws of the United States of America (the “Trustee”), having its Corporate Trust Office at 60 Livingston Avenue,
EP-MN-WS3C, St. Paul, Minnesota 55107. 
 RECITALS OF THE
COMPANY 
 A.    The Company and the Trustee are party to the Indenture, dated as of April 11, 2018 (the
“Indenture”), to provide for the issuance from time to time of its debentures, notes, bonds and other evidences of indebtedness (the “Debt Securities”). 

B.    Pursuant to the terms of the Indenture, the Company desires to provide for the establishment of a new series of its
Securities under the Indenture to be known as its “4.200% Notes due 2028” (the “Notes”), the form and substance and the terms, provisions and conditions thereof to be set forth as provided in the Indenture and this
Supplemental Indenture. 
 C.    This Supplemental Indenture is being entered into pursuant to the provisions of Article
2, Article 3 and Section 901(11) of the Indenture. 
 NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, and for the purpose of setting forth the forms
and terms of the Notes, it is mutually covenanted and agreed for the benefit of all Holders of the Notes, as follows: 
 ARTICLE 1.

 DEFINITIONS 

Section 1.1    Definition of Terms. Terms used but not defined in this Supplemental Indenture
shall have the same meaning as defined in the Indenture, unless the context otherwise requires.  
 ARTICLE 2 

TERMS AND CONDITIONS OF NOTES 

Section 2.1    Designation and Principal Amount. There is hereby authorized and established a series of
Registered Securities under the Indenture, designated as the “4.200% Notes due 2028,” which is initially limited in aggregate principal amount to $600,000,000. 

Section 2.2    Maturity. The Stated Maturity of principal of the Notes shall be April 15, 2028.

  
 1 

 Section 2.3    Further Issues. The Company may, without
the consent of Holders of the Notes, increase the principal amount of the Notes by issuing additional Notes in the future on the same terms and conditions, except for any differences in the issue date, price to the public, interest accrued prior to
the issue date of such additional Notes, and the initial interest payment date. Any such additional Notes shall be consolidated with the Notes herein provided for, including for purposes of voting and redemptions. If such additional Notes and the
Notes herein provided for are not fungible for U.S. federal income tax purposes, the Company shall cause such additional Notes to have a different CUSIP number than the Notes herein provided for. Notwithstanding the foregoing, no additional Notes
may be issued if any Event of Default has occurred and is continuing with respect to the Notes. 

Section 2.4    Payment. Principal of and interest on each Note shall be payable to the Holder thereof
in immediately available funds upon presentation of the Note if in certificated form at the office or agency the Company maintains for this purpose, which is initially the Corporate Trust Office, in any coin or currency of the United States of
America which at the time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the Company’s option through the Paying Agent by check mailed to the Holder at the
close of business on the Regular Record Date at such address as shall appear in the Security Register or by wire transfer of immediately available funds to an account specified in writing by such Holder to the Company and the Trustee prior to the
relevant Regular Record Date; and provided, further, that the Company through the Paying Agent may pay principal of and/or interest on the Notes in the form of Global Securities registered in the name of or held by The Depository Trust
Company (“DTC”) or such other Depositary as any Company Officer may from time to time designate, or its respective nominee, by wire transfer in immediately available funds to such Depositary or its nominee, as the case may be, as
the Holder of such Notes in the form of Global Securities. 
 Section 2.5    Global Securities.
Upon the original issuance, the Notes will be represented by Global Securities registered in the name of Cede & Co., the nominee of DTC. The Company will deposit the Global Securities with DTC or its custodian and register the Global
Securities in the name of Cede & Co. 
 Section 2.6    Interest. The Notes shall bear
interest (computed on the basis of a 360-day year consisting of twelve 30-day months) from April 11, 2018 at the rate of 4.200% per annum, payable semi-annually in arrears. Interest payable on each Interest Payment Date shall include interest
accrued from April 11, 2018, or from the most recent Interest Payment Date to which interest has been paid or duly provided for. The Interest Payment Dates on which such interest shall be payable are April 15 and October 15,
commencing on October 15, 2018; and the Regular Record Date for the interest payable on any Interest Payment Date is the close of business on March 31 or September 30, as the case may be, next preceding the relevant Interest Payment
Date. 
 Section 2.7    Authorized Denominations. The Notes shall be issuable in denominations
of $2,000 and integral multiples of $1,000 in excess thereof. 

  
 2 

 Section 2.8    Redemption; Purchase and Sinking Fund. The
Notes shall not be redeemable at the option of the Company or the Holders except as set forth in Paragraph 3 of the Reverse of the Notes. The Company shall be required to purchase the Notes in accordance with the provisions of Paragraph 2 of the
Reverse of the Notes. The Notes shall not be entitled to the benefit of any sinking fund. 

Section 2.9    Ranking. The Notes shall be senior unsecured Debt Securities of the Company, ranking
equally with the Company’s other unsecured and unsubordinated indebtedness. 

Section 2.10    Appointments. The Trustee shall be the initial Security Registrar and initial Paying
Agent for the Notes. 
 Section 2.11    Defeasance. Section 403 and Article Fifteen of
the Indenture shall be applicable to the Notes. 
 Section 2.12    Guarantees. The Notes shall
not be guaranteed by any Person. 
 ARTICLE 3 

FORM OF NOTES 

Section 3.1    Form of Notes. The Notes and the Trustee’s certificate
of authentication thereon shall to be substantially in the form set forth in Exhibit A hereto. 
 ARTICLE 4 

ADDITIONAL COVENANTS 

Section 4.1    Restrictions on Secured Debt. For so long as the Notes are Outstanding: 

(a)    Subject to the exceptions set forth herein, including Section 4.1(b) and
Section 4.1(c), the Company shall not, and shall not permit any Restricted Subsidiary to, incur, issue, assume or guarantee any notes, bonds, debentures or similar evidences of indebtedness for money borrowed, secured by
pledge of, or mortgage or Lien on, any Principal Property of the Company or any Restricted Subsidiary, or any shares of stock of any Restricted Subsidiary (such pledges, mortgages and liens being called “Liens” and such debt secured
by such Liens being called “Secured Debt”), without effectively providing that the Notes (together with, any other indebtedness of the Company or such Restricted Subsidiary then existing or thereafter created which is not
subordinate to the Notes) shall be secured equally and ratably with (or prior to) such Secured Debt, so long as such Secured Debt shall be so secured. 

(b)    The limitation in Section 4.1(a) shall not apply to the incurrence, issuance, assumption
or guarantee of any debt if, immediately after giving effect thereto, the aggregate amount of all such Secured Debt plus all Attributable Debt of the Company and its Restricted Subsidiaries in respect of any Sale and Leaseback Transaction
(other than debt secured by Permitted Liens) would not exceed 15% of Consolidated Net Tangible Assets. 

  
 3 

 (c)    In addition, the limitation in
Section 4.1(a) does not apply to (and, in calculating the amount of Secured Debt for the purposes of Section 4.1(b), the Company may disregard) any of the following (all of which are
“Permitted Liens”): 
 (i)    any Lien existing on April 11, 2018; 

(ii)    Liens on property or shares of stock of any Person, which Liens are existing at the time (A) such Person
became a Restricted Subsidiary, (B) such Person is merged into or consolidated with the Company or any Subsidiary or (C) the Company or a Subsidiary merges into or consolidates with such Person (in a transaction in which such Person
becomes a Restricted Subsidiary); provided, in each case, such Lien was not incurred in anticipation of and was outstanding prior to such transaction; 

(iii)    Liens in favor of, or securing debt owed to, the Company or any Restricted Subsidiary; 

(iv)    Liens in favor of any governmental body to secure progress, advance or other payments pursuant to any contract or
provision of any statute; 
 (v)    Liens in favor of any customer arising in respect of payments made by or on behalf of
a customer for goods produced for, or services rendered to, customers in the ordinary course of business not exceeding the amount of those payments; 

(vi)    Liens on property or shares of stock existing at the time of acquisition thereof (whether such acquisition is
acquired directly or indirectly, and including acquisition through merger, consolidation or other similar transaction); 

(vii)    Liens on property or shares of stock to secure the payment of all or any part of the purchase price, construction
cost, or other acquisition costs related to such property or shares and related assets, or any improvement thereon, or to secure any debt incurred prior to, at the time of, or within one year after, the acquisition of such property or shares, the
completion of any construction or the commencement of full operation, for the purpose of financing all or any part of the purchase price, construction cost, or other acquisition costs related to such property or shares and related assets, or any
improvement thereon (in each case whether such acquisition is acquired directly or indirectly, and including acquisition through merger, consolidation or other similar transaction); 

(viii)    Liens incurred in connection with a Sale and Leaseback Transaction satisfying the conditions of
Section 4.2(a)(i) or Section 4.2(a)(ii); 
 (ix)    statutory Liens,
Liens for taxes or assessments or governmental charges or levies not yet due or delinquent or which can be paid without penalty or are being contested in good faith, landlord’s Liens on leased property, easements and other Liens of a similar
nature; 

  
 4 

 (x)    Liens consisting solely of encumbrances, rights-of-way, restrictions (including zoning restrictions), minor defects or irregularities in title and other similar charges or encumbrances not, in any material respect,
impairing the use of the encumbered property for its intended purpose; and 
 (xi)    any extension, renewal or
replacement (or successive extensions, renewals or replacements), as a whole or in part, of any Permitted Lien (including any Liens for the purpose of extending, renewing, replacing or refinancing debt secured by Permitted Liens); provided
that such extension, renewal or replacement Lien shall be limited to all or a part of the property or shares of stock that secured the Lien extended, renewed or replaced (plus improvements on such property). 

Section 4.2    Restrictions on Sales and Leasebacks. For so long as the Notes are Outstanding:

 (a)    The Company shall not, and shall not permit any Restricted Subsidiary to, enter into any arrangement with
any Person (not including the Company or any Restricted Subsidiary) providing for the leasing by the Company or a Restricted Subsidiary for a period, including renewals, in excess of three years of any Principal Property the ownership of which has
been or is to be sold or transferred, more than 180 days after the completion of construction and commencement of full operation thereof, by the Company or such Restricted Subsidiary to such Person (or to any Person to whom funds have been or are to
be advanced by such Person on the security of such Principal Property) (referred to as a “Sale and Leaseback Transaction”) unless either: 

(i)    the Company or such Restricted Subsidiary could create Secured Debt pursuant to the provisions described under
Section 4.1 on the Principal Property to be leased in an amount equal to the Attributable Debt with respect to such Sale and Leaseback Transaction without equally and ratably securing Notes; or 

(ii)    within 180 days after such sale or transfer shall have been made by the Company or by a Restricted Subsidiary, the
Company applies an amount not less than the greater of (A) the net proceeds of the sale of the Principal Property leased pursuant to such arrangement or (B) the fair market value of the Principal Property so leased at the time of entering
into such arrangement (as evidenced by an Officer’s Certificate) to the retirement of debt owed by the Company or any of its Subsidiaries that has a maturity of more than one year from the date of the most recent balance sheet of the Company
and its consolidated Subsidiaries (“Funded Debt”), reduced by (X) the principal amount of Notes issued under the Indenture delivered within 180 days after such sale to the Trustee for retirement and cancellation, and
(Y) the principal amount of Funded Debt other than Notes issued under the Indenture, voluntarily retired by the Company within 180 days after such sale. 

(b)    No retirement referred to in Section 4.2(a)(ii) may be effected by payment at maturity or
pursuant to any mandatory sinking fund payment or mandatory prepayment provision. 

  
 5 

 Section 4.3    Certain Definitions. For purposes of this
Article 4: 
 (a)    “Attributable Debt” means, as to any lease in respect of a Sale and
Leaseback Transaction under which any Person is at the time liable, at any date as of which the amount thereof is to be determined, the total net amount of rent required to be paid by such Person under such lease during the remaining term thereof
(or, if earlier, the first date upon which such lease may be terminated without penalty), discounted from the respective due dates thereof to such date at the rate per annum borne by Debt Securities issued under the Indenture, compounded annually.
The net amount of rent required to be paid under any such lease for any such period shall be the aggregate amount of the rent payable by the lessee with respect to such period after excluding amounts required to be paid on account of maintenance and
repairs, insurance, taxes, assessments, water rates and similar charges. In the case of any lease that is terminable by the lessee upon the payment of a penalty, the Company may elect to calculate such net amount as if the lease were to so
terminate, in which case such net amount shall also include the amount of such penalty, but no rent shall be considered as required to be paid under such lease subsequent to the first date upon which it may be so terminated. 

(b)    “Consolidated Net Tangible Assets” means the aggregate amount of assets (less applicable reserves
and other properly deductible items) of the Company and its Subsidiaries, after deducting therefrom (i) all current liabilities, except for (A) notes and loans payable, (B) current maturities of long-term debt, (C) current
maturities of obligations under capital leases, and (ii) all goodwill, trade names, trademarks, patents, unamortized debt discount and expense and other like intangibles, all as set forth on our most recent consolidated balance sheet and
computed in accordance with generally accepted accounting principles in the United States as in effect from time to time. 

(c)    “Principal Property” means any single parcel of real estate or permanent improvement thereon owned
or leased in connection with a Sale and Leaseback Transaction by the Company or any Restricted Subsidiary that is located within the United States and the net book value of which on the date as of which the determination is being made exceeds 1% of
Consolidated Net Tangible Assets, other than any real estate or permanent improvement thereon that (i) is a pollution control or other facility financed by obligations issued by a state or local government unit and described in Sections 141(a),
142(a)(5), 142(a)(6), 142(a)(10) or 144(a) of the Internal Revenue Code (or their successor provisions) or by any other obligations the interest of which is excluded under Section 103 of the Internal Revenue Code (or its successor provision),
or (ii) in the good-faith opinion of the Board of Directors, as evidenced by a Board Resolution, is not of material importance to the total business conducted by the Company and its Subsidiaries, taken as a whole. 

(d)    “Restricted Subsidiary” means a wholly owned Subsidiary of the Company that is organized under the
laws of the United States, any state thereof or the District of Columbia, or any political subdivision of the foregoing, substantially all of the assets of which are located in the United States (excluding territories or possessions) and that owns a
Principal Property; provided, however, that the term Restricted Subsidiary shall not include any subsidiary that is principally engaged in (i) the business of financing, (ii) the business of owning, buying, selling, leasing, dealing
in or developing real property or (iii) the business of exporting goods or merchandise from or importing goods or merchandise into the United States. 

  
 6 

 (e)    “Subsidiary” means a corporation more than 50% of the
outstanding Voting Stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries. 

(f)    “Voting Stock” of any specified Person as of any date means the capital stock (or comparable
equity interests) of such Person that is at the time entitled to vote generally in the election of the board of directors (or members of the governing body) of such Person. 

ARTICLE 5 
 ORIGINAL
ISSUE OF NOTES 
 Section 5.1    Original Issue of Notes. The Notes may, upon
execution of this Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall, upon Company Order, authenticate and deliver such Notes as in such Company Order provided. 

ARTICLE 6 
 MISCELLANEOUS

 Section 6.1    Ratification of Indenture. The Indenture, as supplemented by this
Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided; provided, however, that the provisions of
this Supplemental Indenture shall apply solely with respect to the Notes and not to any other series of Debt Securities issued under the Indenture. The provisions of general application set forth in the Indenture shall apply to this Supplemental
Indenture. 
 Section 6.2    Governing Law. This Supplemental Indenture and the Notes shall be
governed by, and construed in accordance with, the law of the State of New York. 

Section 6.3    Separability. In case any provision in this Supplemental Indenture or in the
Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 6.4    Counterparts. This Supplemental Indenture may be executed in any number of counterparts,
each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same Indenture. Delivery of a signed copy of this Supplemental Indenture (or a signature page hereto) by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Supplemental Indenture. 

[Signature page follows] 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly
executed, as of the date first above written. 
  

					
	C.H. ROBINSON WORLDWIDE, INC.
		
	By:	 	 /s/ Andrew C. Clarke

		 	Name:	 	Andrew C. Clarke                    
		 	Title:	 	Chief Financial Officer

  
 [Signature Page to
First Supplemental Indenture] 

 
					
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Donald T. Hurrelbrink

		 	Name:	 	Donald T. Hurrelbrink                               
		 	Title:	 	Vice President

  
 [Signature Page to
First Supplemental Indenture] 

 EXHIBIT A TO FIRST SUPPLEMENTAL INDENTURE 

[FORM OF NOTE] 

 

This Note is a Global Security within the meaning of the Indenture hereinafter referred to below and is registered in the name
of a Depositary or a nominee of a Depositary. This Note is exchangeable for Notes registered in the name of a Person other than the Depositary or its nominee only in the limited circumstances described in the Indenture, and no transfer of this Note
(other than a transfer of this Note as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary) may be registered except in the limited circumstances described
in the Indenture. 
 Unless this certificate is presented by an authorized representative of The Depository Trust
Company to the issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depository Trust
Company and any payment is made to Cede & Co., any transfer, pledge or other use hereof for value or otherwise by or to any person is wrongful since the registered owner hereof, Cede & Co., has an interest herein. 

C.H. ROBINSON WORLDWIDE, INC. 
  

					
	 No. R-[    ]
	  	4.200% Notes due 2028	  	$[        ]

 CUSIP No.:     12541WAA8 

ISIN:                US12541WAA80 

C.H. Robinson Worldwide, Inc., a Delaware corporation (the “Company,” which term includes any successor Person under the
Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of $[        ], as revised by the Schedule of Increases and
Decreases attached hereto, on April 15, 2028, and to pay interest thereon from April 11, 2018 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on April 15 and
October 15 of each year, commencing on October 15, 2018, at the rate of 4.200% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be March 31
or September 30 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a “Special Record Date” for the payment of such Defaulted Interest to be
fixed by the Trustee, notice whereof shall be given to Holders of the Notes not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange
on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

  
 A-1 

 Reference is hereby made to the further provisions of the Notes set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

[Signature Pages Follow] 

  
 A-2 

 IN WITNESS WHEREOF, the Company has caused this Note to be duly executed. 

Dated: [                    ] 

 

			
	C.H. ROBINSON WORLDWIDE. INC.
		
	By:	 	
                     

		 	Name:
		 	Title:

  
 A-3 

 This Note is one of the Debt Securities of the series designated therein referred to in the
within-mentioned Indenture. 
  

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	
                     

		 	Name:
		 	Title:

Dated:[                    ] 

  
 A-4 

 [REVERSE OF NOTE] 

1.    Indenture. 

This Note is one of a duly authorized issue of Debt Securities of the Company (the “Notes”), issued and to be issued in one or
more series under the Indenture, dated as of April 11, 2018, and a supplemental indenture relating to the Notes dated as of April 11, 2018 (together, the “Indenture”), between the Company and U.S. Bank National
Association, as Trustee (the “Trustee,” which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, such series initially
limited in aggregate principal amount to $600,000,000; provided that the Company may at any time and from time to time, without the consent of any Holder, issue additional Notes of this series. All terms which are used but not defined in this
Note and which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 2.    
Repurchase at the Option of the Holder. 
 If a Change of Control Triggering Event occurs, unless the Company has exercised its option to
redeem the Notes pursuant to Paragraph 3 hereof, the Company shall make an offer (the “Change of Control Offer”) to each Holder of Notes to purchase all or any part (equal to $2,000 or any integral multiple of $1,000 in excess
thereof) of such Holder’s Notes on the terms set forth herein. 
 In such Change of Control Offer, the Company shall offer payment in
cash (the “Change of Control Payment”) equal to 101% of the principal amount of the Notes to be repurchased plus accrued and unpaid interest, if any, to the date of purchase, subject to the rights of Holders of such Notes on the
relevant Regular Record Date to receive interest due on the relevant regular Interest Payment Date. 
 Within 30 days following the date
upon which the applicable Change of Control Triggering Event occurred (or, at the Company’s option, prior to any Change of Control but after the public announcement of the pending Change of Control) to the Company shall send a notice to each
Holder of Notes, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. Such notice shall state, among other things, the purchase date, which must be no earlier than 30 days nor later than 60 days from the
date such notice is sent, other than as may be required by law (the “Change of Control Payment Date”). The notice, if sent prior to the date of consummation of the Change of Control, may state that the Change of Control Offer is
conditioned on the Change of Control being consummated on or prior to the Change of Control Payment Date. 
 On the Change of Control
Payment Date, the Company shall, to the extent lawful: 
 (a)    accept or cause a third party to accept
for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

  
 A-5 

 (b)    deposit or cause a third party to deposit with the
Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and 

(c)    deliver or cause to be delivered to the Trustee the Notes properly accepted together with an
Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased and that all conditions precedent to the Change of Control Offer and to the repurchase by the Company of Notes pursuant to the Change
of Control Offer have been complied with. 
 Notwithstanding anything to the contrary, the Company shall not be required to make a Change of
Control Offer if (i) a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for such an offer otherwise required to be made by the Company, and such third party purchases all such Notes
properly tendered and not withdrawn under its offer or (ii) a notice of redemption has been given to the Holders of all such Notes in accordance with the terms of the Indenture, unless and until there is a default in payment of the Redemption
Price. A Change of Control Offer may be made in advance of a Change of Control, conditional upon such Change of Control, if a definitive agreement is in place of the Change of Control at the time of making of the Change of Control Offer. 

The Company shall comply in all material respects with the requirements of Rule 14e-1 under the
Exchange Act, and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the
provisions of any such securities laws or regulations conflict with the provisions of this Paragraph 2, the Company may comply with those securities laws and regulations and will not be deemed to have breached its obligations under the Change of
Control Offer provisions of the Notes by virtue of any such conflict. 
 For purposes of this Paragraph 2, the following terms shall have
the following specified meanings: 
 “Below Investment Grade Rating Event” means the rating on the Notes is
lowered by each of the rating agencies as a result of a particular Change of Control and the Notes are rated below Investment Grade by each of the rating agencies on any date during the period (as the same may be extended, the “Trigger
Period”) commencing on the earlier of (a) the occurrence of the Change of Control and (b) the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending on the 60th day following the consummation of such Change of Control. If the rating of the Notes is under publicly announced consideration for possible downgrade by any Rating Agency on such 60th day following the consummation of the Change of Control, the Trigger Period will be extended to last with respect to each such Rating Agency until the date on which such Rating Agency considering
such possible downgrade either (x) rates the Notes below Investment Grade or (y) publicly announces that it is no longer considering the Notes for possible downgrade; provided, that no such extension will occur if on such 60th day the Notes are rated Investment Grade and are not subject to review for possible downgrade by any Rating Agency. A reduction in rating will be 

  
 A-6 

 
considered to be as a result of a Change of Control only if each Rating Agency making the reduction publicly announces or confirms or informs the Trustee in writing at the Company’s request
that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the
Below Investment Grade Rating Event). 
 “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” as such term is used in
Section 13(d)(3) of the Exchange Act, such “person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right
is currently exercisable or is exercisable only upon the occurrence of a subsequent condition. 
 “Change of
Control” means the occurrence of any of the following after the date of issuance of the Notes: 
 (1) the direct or
indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries taken as a
whole to any “person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange Act) other than to the Company or one of its Subsidiaries; 

(2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is
that any “person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange Act, it being agreed that an employee of the Company or any of its subsidiaries for whom shares are held under an employee stock
ownership, employee retirement, employee savings or similar plan and whose shares are voted in accordance with the instructions of such employee shall not be a member of a “group” (as that term is used in Section 13(d)(3) of the
Exchange Act) solely because such employee’s shares are held by a trustee under said plan) becomes the ultimate Beneficial Owner, directly or indirectly, of the Company’s Voting Stock representing more than 50% of the voting power of the
Company’s outstanding Voting Stock; 
 (3) the Company consolidates with, or merges with or into, any Person, or any
Person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or Voting Stock of such other Person is converted into or exchanged for cash,
securities or other property, other than any such transaction where the Company’s Voting Stock outstanding immediately prior to such transaction constitutes, or is converted into or exchanged for, Voting Stock representing more than 50% of the
voting power of the Voting Stock of the surviving Person or its parent immediately after giving effect to such transaction; or 

  
 A-7 

 (4) during any period of 24 consecutive calendar months, the majority of the
members of the Company’s board of directors shall no longer be composed of individuals (a) who were members of the Company’s board of directors on the first day of such period, (b) whose election or nomination to the
Company’s board of directors was approved by individuals referred to in clause (a) above constituting, at the time of such election or nomination, at least a majority of the Company’s board of directors or, if directors are nominated
by a committee of the Company’s board of directors, constituting at the time of such nomination, at least a majority of such committee or (c) whose election or nomination to the Company’s board of directors was approved by individuals
referred to in clauses (a) and (b) above constituting, at the time of such election or nomination, at least a majority of the Company’s board of directors or, if directors are nominated by a committee of the Company’s board of
directors, constituting at the time of such nomination, at least a majority of such committee. 
 Notwithstanding the
foregoing, a transaction will not be deemed to involve a Change of Control if (i) the Company becomes a direct or indirect wholly-owned subsidiary of a holding company and (ii) the direct or indirect holders of the Voting Stock of such
holding company immediately following that transaction are substantially the same as the holders of the Company’s Voting Stock immediately prior to that transaction. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment
Grade Rating Event. Notwithstanding the foregoing, no Change of Control Triggering Event will be deemed to have occurred in connection with any particular Change of Control unless and until such Change of Control has actually been consummated. 

“Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor
rating category of Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P), and the equivalent investment grade credit rating from any
replacement Rating Agency or Rating Agencies selected by the Company under the circumstances permitting the Company to select a replacement Rating Agency and in the manner for selecting a replacement Rating Agency, in each case as set forth in the
definition of “Rating Agency.” 
 “Moody’s” means Moody’s Investors Service, Inc. and
its successors. 
 “Rating Agency” means each of Moody’s and S&P; provided, that if any of
Moody’s or S&P ceases to rate the Notes for reasons outside the Company’s control, the Company may appoint another “nationally recognized statistical rating organization” (as defined under the Exchange Act) as a replacement
for such Rating Agency; provided, that the Company shall give written notice of such appointment to the Trustee. 

“S&P” means S&P Global Ratings, a division of S&P Global Inc., and its successors. 

  
 A-8 

 “Voting Stock” of any specified Person as of any date means the
capital stock (or comparable equity interests) of such Person that is at the time entitled to vote generally in the election of the board of directors (or members of the governing body) of such Person. 

3.    Optional Redemption. The Notes shall be redeemable at any time or from time to time, in a whole or in
part, at the Company’s option, on at least 15 days’ but not more than 60 days’ prior notice to each Holder of Notes to be redeemed (the “Redemption Date”), at a redemption price (the “Redemption
Price”) that is: 
 (a)    if the Redemption Date is before January 15, 2028 (the
“Par Call Date”), an amount equal to the greater of (i) 100% of the principal amount of the notes to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments that would be due if the Notes matured
on the Par Call Date (not including any portion of such payments of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Adjusted Treasury Rate (as defined below) plus 25 basis points; or 

(b)    if the Redemption Date is on or after the Par Call Date, an amount equal to 100% of the principal
amount of the Notes to be redeemed. 
 The Redemption Price for any Notes redeemed pursuant to this Paragraph 3 shall include accrued and
unpaid interest, if any, on the principal amount of such Notes up to, but not including, the Redemption Date, subject to the rights of Holders of such Notes on the relevant Regular Record Date to receive interest due on the relevant regular Interest
Payment Date. 
 A partial redemption of Notes may be effected by such method as the Trustee may deem fair and appropriate and may provide
for the selection for redemption of a portion of the principal amount of Notes held by a Holder equal to an authorized denomination or in accordance with the applicable procedures of The Depository Trust Company. 

For purposes of this Paragraph 3, the following terms shall have the following specified meanings: 

“Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the
semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Comparable Treasury Issue” means the United States Treasury security selected by a Quotation Agent as having
a maturity comparable to the Par Call Date that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Par Call Date. 

“Quotation Agent” means the Reference Treasury Dealer appointed by the Company. 

  
 A-9 

 “Comparable Treasury Price” means, with respect to any
Redemption Date, (1) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (2) if the Quotation Agent obtains fewer than
four such Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations obtained. 

“Reference Treasury Dealer” means (1) J.P. Morgan Securities LLC and Merrill Lynch, Pierce,
Fenner & Smith Incorporated, and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury
Dealer”), the Company shall substitute therefor another primary treasury dealer, (2) a Primary Treasury Dealer selected by U.S. Bancorp Investments, Inc., and (3) any other Primary Treasury Dealer selected by the Company. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any
Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference
Treasury Dealer as of 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 The provisions of Article
11 of the Indenture shall apply to any redemption of the Notes. 
 The Notes are not entitled to the benefit of any sinking fund. 

4.    Amendments and Waivers.  

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of
the Company and the rights of the Holders of the Notes under the Indenture and the Notes at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Notes at the time Outstanding and,
in some cases, without the consent of any Holders. 
 The Indenture also contains provisions permitting the Holders of specified percentages
in aggregate principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive compliance by the Company with certain provisions of the Indenture and the Notes and certain past defaults under the Indenture and
their consequences. 
 Any such consent or waiver by the Holders of Notes shall be conclusive and binding upon such Holders and upon all
future Holders of the Notes and of any Notes issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

5.    Effect of Event of Default.  

If an Event of Default with respect to the Notes shall occur and be continuing, the principal of the Notes may be declared, or shall
immediately become, due and payable in the manner and with the effect provided in the Indenture. 

  
 A-10 

 6.    Obligation to Pay Principal and Interest.  

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

7.    Defeasance.  

The Indenture contains provisions for defeasance at any time of the entire indebtedness of the Notes or certain restrictive covenants and
Events of Default with respect to such Notes, in each case upon compliance with certain conditions set forth in the Indenture. 

8.    Denominations; Exchanges. 

As provided in the Indenture and in the manner and subject to certain limitations therein set forth, the transfer of this Note is registrable
in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company maintained for such purpose. The Notes are issuable only in registered form without coupons in denominations of $2,000 and
integral multiples of $1,000 in excess thereof. 
 Prior to due presentment of this Note for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall
be affected by notice to the contrary. 
 9.    Global Security. 

This Note is a Global Security and is subject to the provisions of the Indenture relating to Global Securities, including the limitations in
Section 305 thereof on transfers and exchanges of Global Securities. 
 10.    Governing Law. 

This Note and the Indenture shall be governed by, and construed in accordance with, the law of the State of New York. 

  
 A-11 

 SCHEDULE OF INCREASES OR DECREASES 

The following increases or decreases in this Global Security have been made: 

 

									
	 Date of

Transfer
 or

Exchange
	  	Amount of
decrease in
Principal
Amount of this
Global Security	  	Amount of
increase in
Principal
Amount of this
Global Security	  	Principal
Amount of this
Global Security
following such
decrease or
increase	  	Signature of
authorized
signatory of
Trustee or
Security Registrar
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A-12EX-10.1

 Exhibit 10.1 

FORM OF 
 ABPRO
CORPORATION 
 THIRD AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS THIRD AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT is made as of the 22 day of December, 2017, by and among Abpro Corporation
(f/k/a IE Lab, Inc.), a Delaware corporation (the “Company”), certain existing stockholders of the Company listed on Exhibit A hereto (each, an “Investor” and together the “Investors”) and
any additional purchaser who purchases shares of Series D Preferred Stock after the date hereof and becomes a party to this Agreement in accordance with Section 5.1 hereof. Together, the Investors (including any party that
becomes an “Investor” under this Agreement in accordance with Section 5.1 hereof) are referred to herein as the “Investors,” and each individually as an “Investor.” Capitalized terms not otherwise
defined herein have the meaning given them in the Purchase Agreement (as defined below). 
 RECITALS 

WHEREAS, the Company and the Investors are parties to that certain Second Amended and Restated Investors’ Rights Agreement dated
as of March 31, 2017, as amended (the “Prior Agreement”); and 
 WHEREAS, the Company and the Investors desire
to amend and restate the Prior Agreement in its entirety as set forth herein, and the undersigned Investors represent at least the requisite minimum to so amend and restate the Prior Agreement and to cause that this Agreement shall, upon due
execution hereof by all parties hereto, be effective for all purposes and shall supersede in all respects the Prior Agreement. 
 NOW,
THEREFORE, the parties hereto do hereby amend and restate the Prior Agreement in its entirety as follows: 
 Section 1 Definitions As
used in this Agreement, the following terms shall have the meanings set forth below: 
 (a) “Commission” shall mean the
Securities and Exchange Commission or any other federal agency at the time administering the Securities Act. 
 (b) “Common
Stock” means the common stock of the Company, $0.001 par value per share. 
 (c) “Conversion Stock” shall mean
shares of Common Stock issued upon conversion of the Preferred Stock. 
 (d) “Exchange Act” shall mean the Securities
Exchange Act of 1934, as amended, or any similar successor federal statute and the rules and regulations thereunder, all as the same shall be in effect from time to time. 

(e) “Founders” shall mean Eugene Chan, Ian Chan, and Upmarket Group Limited, a British Virgin Islands corporation. 

 (f) “Holder” shall mean any Investor who holds Registrable Securities and any
holder of Registrable Securities to whom the registration rights conferred by this Agreement have been duly and validly transferred in accordance with Section 2.12 of this Agreement. 

(g) “Indemnified Party” shall have the meaning set forth in Section 2.6(c) hereto. 

(h) “Indemnifying Party” shall have the meaning set forth in Section 2.6(c) hereto. 

(i) “Initial Public Offering” shall mean the closing of the Company’s first firm commitment underwritten public offering
of the Company’s Common Stock registered under the Securities Act and listed on an internationally recognized stock exchange that results in net proceeds to the Company of at least US$30 million. 

(j) “New Securities” shall have the meaning set forth in Section 4.1(a) hereto. 

(k) “Preferred Designees” shall have the meaning set forth in the ROFR Agreement. 

(l) “Preferred Stock” shall mean the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock,
and the Series D Preferred Stock. 
 (m) “Registrable Securities” shall mean (i) shares of Common Stock issued or
issuable pursuant to the conversion of the 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 Registrable Securities shall not include any shares of Common Stock described in clause (i) or (ii) above that have previously been registered or which have been sold to the public either pursuant to a registration statement or Rule 144,
or which have been sold in a private transaction in which the transferor’s rights under this Agreement are not validly assigned in accordance with the terms of this Agreement. 

(n) The terms “register,” “registered” and “registration” shall refer to a registration
effected by preparing and filing a registration statement in compliance with the Securities Act and applicable rules and regulations thereunder, and the declaration or ordering of the effectiveness of such registration statement. 

(o) “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, but shall not include Selling Expenses, fees and disbursements of counsel for the Holders and the compensation of regular employees of the Company, which shall be paid in any event by the Company. 

(p) “Restricted Securities” shall mean any Registrable Securities required to bear the first legend set forth in
Section 2.8(c) hereof. 

  
 2 

 (q) “ROFR Agreement” shall mean the Third Amended and Restated Right of First
Refusal, Co-Sale and Voting Agreement of even date herewith, among the Company, the Investors and the Founders, as may be amended from time to time: 

(r) “Rule 144” shall mean Rule 144 as promulgated by the Commission under the Securities Act, as such Rule may be amended from
time to time, or any similar successor rule that may be promulgated by the Commission. 
 (s) “Rule 145” shall mean Rule
145 as promulgated by the Commission under the Securities Act, as such Rule may be amended from time to time, or any similar successor rule that may be prom gated by the Commission. 

(t) “Rule 415” shall mean Rule 415 as promulgated by the Commission under the Securities Act, as such Rule may be amended
from time to time, or any similar successor rule that may be promulgated by the Commission. 
 (u) “Securities Act” shall
mean the Securities Act of 1933, as amended, or any similar successor federal statute and the rules and regulations thereunder, all as the same shall be in effect from time to time. 

(v) “Selling Expenses” shall mean all underwriting discounts, selling commissions and stock transfer taxes applicable to the
sale of Registrable Securities and fees and disbursements of counsel for any Holder. 
 (w) “Series A Preferred Stock”
shall mean the shares of Series A Preferred Stock, $0.001 par value per share. 
 (x) “Series B Preferred Stock” shall mean
the shares of Series B Preferred Stock, $0.001 par value per share. 
 (y) “Series C Preferred Stock” shall mean the shares
of Series C Preferred Stock, $0.001 par value per share. 
 (z) “Series D Preferred Stock” shall mean the shares of Series
D Preferred Stock, $0.001 par value per share. 
 (aa) “Significant Holder” shall mean an Investor who holds at least 8,000
shares of Series A Preferred Stock, 260,000 shares of Series B Preferred Stock, 95,000 shares of Series C Preferred Stock, or 92,592 shares of Series D Preferred Stock (each as adjusted for stock splits, stock dividends and the like). 

Section 2 Registration Rights 

2.1 Demand Registration. 

(a) Request by Holders. If the Company shall receive at any time after the earlier of (i) three (3) years from the date of this
Agreement or (ii) six (6) months after the effective date of the first registration statement for a public offering of securities of the Company (other than a 

  
 3 

 
registration statement relating to the sale of securities to employees of the Company pursuant to a stock option, stock purchase or similar plan or an SEC Rule 145 transaction), or the subsequent
date on which all market stand-off agreements applicable to the offering have terminated, a written request from the Holders of at least 50% of the Registrable Securities then outstanding (“Initiating
Holders”) that the Company file a registration statement under the Securities Act covering the registration of fifty percent (50%) of the Registrable Securities then outstanding or such lesser amount as would have an anticipated aggregate
public offering price (after deduction for underwriter’s discounts and expenses related to the issuance) of not less than $25,000,000 and a per-share offering price of not less than $20.00 (as adjusted
for any stock dividends, combinations or splits with respect to such shares), then the Company shall, within ten (10) business days of the receipt of such written request, give written notice of such request (“Demand Notice”)
to all Holders and, as use commercially reasonable efforts to file as soon as practicable, and in any event within ninety (90) days after the date such request is given by the Initiating Holders, a registration statement under the Securities
Act covering all Registrable Securities that the Initiating Holders requested to be registered and any additional Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by each such
Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of this Section 2. 

(b) Underwriting. If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an
underwriting, then they shall so advise the Company as a part of their request made pursuant to Section 2(a) and the Company shall include such information in the Demand Notice. In such event, the right of any Holder to
include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting (unless
otherwise mutually agreed by a majority in interest of the Initiating Holders and such Holder) to the extent provided herein. The underwriters will be selected by the Initiating Holders. Any Holders proposing to distribute their Registrable
Securities through such underwriting shall enter into an underwriting agreement in customary form with the managing underwriter or underwriters selected for such underwriting. Notwithstanding any other provision of this
Section 2.1, if the managing underwriters advise the Company in writing that marketing factors require a limitation of the number of securities to be underwritten, then the Company shall so advise all Holders of Registrable
Securities that would otherwise be registered and underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be reduced as required by the underwriters and allocated among the Holders on a
pro rata basis according to the number of Registrable Securities held by each Holder requesting registration (including the Initiating Holders); provided, however, that the number of shares of Registrable Securities to be included in such
underwriting and registration shall not be reduced unless all other securities of the Company are first entirely excluded from the underwriting and registration. Any Registrable Securities excluded and withdrawn from such underwriting shall be
withdrawn from the registration. 
 (c) Exceptions to Registration Obligations. The Company shall not be obligated to effect, or to
take any action to effect, any registration pursuant to this Section2.1: (i) during the period starting with the date ninety (90) days prior to the Company’s good faith estimate of the date of filing of, and ending on the date that
is one hundred eighty (180) days after the effective date of, a Company-initiated registration, provided that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become
effective; (ii) 

  
 4 

 
after the Company has effected one (1) such registration; or (iii) if the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on
Form S-3 pursuant to a request made pursuant to Section 2.3; or (iv) in any particular jurisdiction in which the Company would be required to execute a general consent to service
of process in effecting such registration, qualification, or compliance, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act. A registration shall not be counted as
“effected” for purposes of this Section 2.1 until such time as the applicable registration statement has been declared effective by the Securities Exchange Commission, unless the Initiating Holders withdraw their
request for such registration. 
 (d) Deferral of Registration. Notwithstanding the foregoing, if the Company shall furnish to
Holders requesting registration pursuant to this Section 2.1 a certificate signed by the President or Chief Executive Officer of the Company stating that, in the good faith judgment of the Board of Directors of the Company,
it would be materially detrimental to the Company and its stockholders for such registration statement to be filed and it is therefore essential to defer the filing of such registration statement, then the Company shall have the right to defer such
filing for a period of not more than 120 days following receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this right more than once in any 12-month period.

 (e) Other Company Shares. If the managing underwriters have not limited the Registrable Securities to be underwritten, the Company
may include securities for its own account or for the account of others in such registration if the managing underwriters so agree and if the number of Registrable Securities which would otherwise have been included in such registration and
underwriting will not thereby be limited. 
 2.2 Company Registration. 

(a) Company Registration. If the Company shall determine to register any of its securities either for its own account or the account of
a security holder or holders, other than a registration pursuant to Section 2.1 or 2.3, a registration relating solely to employee benefit plans, a registration relating to the offer and sale of debt securities, a
registration relating to a corporate reorganization or other Rule 145 transaction, a registration on any registration form that does not permit secondary sales, or a registration for its Initial Public Offering, the Company will: 

(i) promptly give written notice of the proposed registration to all Holders; and 

(ii) use its commercially reasonable efforts to include in such registration (and any related qualification under blue sky laws or other
compliance), except as set forth in Section 2.2(b) below, and in any underwriting involved therein, all of such Registrable Securities as are specified in a written request or requests made by any Holder or Holders received
by the Company within ten (10) days after such written notice from the Company is mailed or delivered. Such written request may specify all or a part of a Holder’s Registrable Securities. 

  
 5 

 (b) Underwriting. If the registration of which the Company gives notice is for a
registered public offering involving an underwriting, the Company shall so advise the Holders as a part of the written notice given pursuant to Section 2.2(a)(i). In such event, the right of any Holder to registration
pursuant to this Section 2.2 shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein.
All Holders proposing to distribute their securities through such underwriting shall (together with the Company and the other holders of securities of the Company with registration rights to participate therein distributing their securities through
such underwriting) enter into an underwriting agreement in customary form with the representative of the underwriter or underwriters selected by the Company. 

Notwithstanding any either provision of this Section 2.2, if the underwriters advise the Company in writing that
marketing factors require a limitation on the number of shares to be underwritten, the underwriters may (subject to the limitations set forth below) exclude all Registrable Securities from, or limit the number of Registrable Securities to be
included in, the registration and underwriting. The Company shall so advise all holders of securities requesting registration, and the number of shares of securities that are entitled to be included in the registration and underwriting shall be
allocated, as follows: (i) first, to the Company for securities being sold for its own account, (ii) second, to the Holders requesting to include Registrable Securities in such registration statement based on the pro rata percentage of
Registrable Securities held by such Holders, and (iii) third, to any stockholders of the Company (other than a Holder) based on the pro rata percentage of capital stock held by such stockholders. 

If a person who has requested inclusion in such registration as provided above does not agree to the terms of any such underwriting, such
person shall also be excluded therefrom by written notice from the Company or the underwriter. The Registrable Securities or other securities so excluded hall also be withdrawn from such registration. Any Registrable Securities or other securities
excluded or withdrawn from such underwriting shall be withdrawn from such registration. 
 (c) Right to Terminate Registration. The
Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.2 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in
such registration. 
 2.3 Registration on Form S-3. 

(a) Request for Form S-3 Registration. After its initial public offering, the Company shall use
its commercially reasonable efforts to qualify for registration on Form S-3 or any comparable or successor form or forms. After the Company has qualified for the use of Form
S-3, in addition to the rights contained in the foregoing provisions of this Section 2 and subject to the conditions set forth in this Section 2.3, if the
Company shall receive from a Holder or Holders of Registrable Securities a written request that the Company effect any registration on Form S-3 or any similar short form registration statement with respect to
all or part of the Registrable Securities (such request shall state the number of shares of Registrable Securities to be disposed of and the intended methods of disposition of such shares by such Holder or Holders), the Company will:
(i) promptly give written notice of the proposed registration to all other Holders; and (ii) as soon as practicable, file and use its best efforts to effect such registration (including, without limitation, filing post-effective
amendments, appropriate qualifications under applicable blue sky or other state securities laws, and appropriate compliance with the Securities Act) and to permit or 

  
 6 

 
facilitate the sale and distribution of all or such portion of such Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any
Holder or Holders joining in such request as are specified in a written request received by the Company within twenty (20) days after such written notice from the Company is mailed or delivered. 

(b) Limitations on Form S-3 Registration. The Company shall not be obligated to effect, or take
any action to effect, any such registration pursuant to this Section 2.3: 
 (i) Prior to one hundred eighty
(180) days following the effective date of the first registration statement filed by the Company covering an underwritten offering of any of its securities to the general public (or the subsequent date on which all the market stand-off agreements applicable to the offering have terminated); 
 (ii) In any particular jurisdiction
in which the Company would be required to execute a general consent to service of process in effecting-such registration, qualification, or compliance, unless the Company is already subject to service in such jurisdiction and except as may be
required by the Securities Act; 
 (iii) During the period starting with the date ninety (90) days prior to the Company’s good
faith estimate of the date of filing of, and ending on a date one hundred eighty (180) days after the effective date of, a Company-initiated registration (or ending on the subsequent date on which all market
stand-off agreements applicable to the offering have terminated); provided that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to
become effective. 
 (iv) If the Holders, together with the holders of any other securities of the Company entitled to inclusion in such
registration, propose to sell Registrable Securities and such other securities (if any) on Form S-3 at an aggregate price to the public of less than $1,000,000; or registration in such period. 

(c) Deferral. If (i) in the good faith judgment of the Board of Directors of the Company, the filing of a registration statement
covering the Registrable Securities would be seriously detrimental to the Company and the Board of Directors of the Company concludes, as a result, that it is in the best interests of the Company to defer the filing of such registration statement at
such time, and (ii) the Company shall furnish to such Holders a certificate signed by the President of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the
Company for such registration statement to be filed in the near future and that it is, therefore, in the best interests of the Company to defer the filing of such registration statement, then (in addition to the limitations set forth in
Section 2.3(b)(iii) above) the Company shall have the right to defer such filing for a period of not more than one hundred eighty (180) days after receipt of the initial request of a Holder, and, provided further, that
the Company shall not defer its obligation in this manner more than once in any twelve-month period. 
 (d) Underwriting. If the
Holders of Registrable Securities requesting registration under this Section 2.3 intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a
part of their request made 

  
 7 

 
pursuant to this Section 2.3 and the Company shall include such information in’ the written notice given pursuant to Section 2.3(a). In
such event, the right of any Holder to include all or any portion of its Registrable Securities in such registration pursuant to this Section 2.3 shall be conditioned upon such Holder’s participation in such
underwriting and the inclusion of such Holder’s Registrable Securities to the extent provided herein. If the Company shall request inclusion in any registration pursuant to Section 2.3 of securities being sold for its
own account, or if other persons shall request inclusion in any registration pursuant to Section 2.3, the Holders requesting such registration shall, on behalf of all Holders, offer to include such securities in the
underwriting and such offer shall be conditioned upon the participation of the Company or such other persons in such underwriting and the inclusion of the Company’s and such person’s other securities of the Company and their acceptance of
the further applicable provisions of this Section 2 (including Section 2.10). The Company shall (together with all Holders and other persons proposing to distribute their securities through such
underwriting) enter into an underwriting agreement in customary form with the representative of the underwriter or underwriters selected for such underwriting by the Company, which underwriters are reasonably acceptable to a majority in interest of
the Initiating Holders. 
 2.4 Expenses of Registration. All Registration Expenses incurred in connection with registrations
pursuant to Sections 2.2 and 2.3 hereof shall be borne by the Company; provided, however, that the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Section 2.3 if
the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered or because a sufficient number of Holders shall have withdrawn so that the minimum offering conditions set
forth in Section 2.3 are no longer satisfied (in which case all participating Holders shall bear such expenses pro rata among each other based on the number of Registrable Securities requested to be so registered). All
Selling Expenses relating to securities registered on behalf of the Holders shall be borne by the holders of securities included in such registration pro rata among each other on the basis of the number of Registrable Securities so registered,
provided, however, that the Company shall pay the reasonable expenses of a single legal counsel to the Holders in an amount not to exceed $15,000 per registration. 

2.5 Registration Procedures. In the case of each registration effected by the Company pursuant to Section 2,
the Company will keep each Holder advised in writing as to the initiation of each registration and as to the completion thereof. At its expense, the Company will use its commercially reasonable efforts to: 

(a) Keep such registration effective for a period of ending on the earlier of the date which is ninety (90) days from the effective date
of the registration statement or such time as the Holder or Holders have completed the distribution described in the registration statement relating thereto; 

(b) Prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection
with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement for the period set forth in subsection (a) above;

  
 8 

 (c) Furnish such number of prospectuses, including any preliminary prospectuses, and other
documents incident thereto, including any amendment of or supplement to the prospectus, as a Holder from time to time may reasonably request; 

(d) Use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other
securities or Blue Sky laws of such jurisdiction as shall be reasonably requested by the Holders; 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 states or jurisdictions; 
 (e) Notify each seller of Registrable Securities covered by
such registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in
effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in light of the circumstances then existing, and
following such notification promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such shares, such
prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in light of the circumstances then existing;

 (f) Provide a transfer agent and registrar for all Registrable Securities registered pursuant to such registration statement and a CUSIP
number for all such Registrable Securities, in each case not later than the effective date of such registration; and 
 (g) Cause all such
Registrable Securities registered pursuant hereunder to be listed on each securities exchange on which similar securities issued by the Company are then listed. 

2.6 Indemnification. 
 (a)
To the extent permitted by law, the Company will indemnify and hold harmless each Holder, each of its officers, directors and partners, legal counsel and accountants and each person controlling such Holder within the meaning of Section 15 of
the Securities Act, with respect to which registration, qualification or compliance has been effected pursuant to this Section 2, and each underwriter, if any, and each person who controls within the meaning of
Section 15 of the Securities Act any underwriter, against all expenses, claims, losses, damages and liabilities (or actions, proceedings or settlements in respect thereof) arising out of or based on: (i) any untrue statement (or alleged
untrue statement) of a material fact contained or incorporated by reference in any prospectus, offering circular or other document (including any related registration statement, notification or the like) incident to any such registration,
qualification or compliance, (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation (or alleged violation)
by the Company of the Securities Act, any state securities laws or any rule or regulation thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any offering covered by such registration,
qualification or compliance, and the Company will reimburse each such Holder, each of its officers, directors, partners, legal counsel and accountants 

  
 9 

 
and each person controlling such Holder, each such underwriter and each person who controls any such underwriter, for any legal and any other expenses reasonably incurred in connection with
investigating and defending or settling any such claim, loss, damage, liability or action; provided that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability, or action arises out of or is
based on any untrue statement or omission based upon written information furnished to the Company by such Holder, any of such Holder’s officers, directors, partners, legal counsel or accountants, any person controlling such Holder, such
underwriter or any person who controls any such underwriter, and stated to be specifically for use therein; and provided, further that, the indemnity agreement contained in this Section 2.6(a) shall not apply to
amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld). 

(b) To the extent permitted by law, each Holder will, if Registrable Securities held by such Holder are included in the securities as to which
such registration, qualification or compliance is being effected, indemnify and hold harmless the Company, each of its directors, officers, partners, legal counsel and accountants and each underwriter, if any, of the Company’s securities
covered by such a registration statement, each person who controls the Company or such underwriter within the meaning of Section 15 of the Securities Act, each other such Holder, and each of their officers, directors and partners, and each
person controlling each other such Holder, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained or
incorporated by reference in any prospectus, offering circular or other document (including any related registration statement, notification, or the like) incident to any such registration, qualification or compliance, or (ii) any omission (or
alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and such Holders, directors, officers, partners, legal counsel and
accountants, persons, underwriters, or control persons for any legal or any other expenses reasonably 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 furnished to the Company by such Holder and stated to be specifically for use therein; provided, however, that the obligations of such Holder hereunder shall not apply to amounts paid in settlement of any such claims,
losses, damages or liabilities (or actions in respect thereof) if such settlement is effected without the consent of such Holder (which consent shall not be unreasonably withheld); and provided that in no event shall any indemnity under this
Section 2.6 exceed the gross proceeds from the offering received by such Holder, except in the case of fraud or willful misconduct by such Holder. 

(c) Each party entitled to indemnification under this Section 2.6 (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 such claim or any litigation resulting therefrom; provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or any litigation resulting therefrom, shall be approved by the
Indemnified Party (whose approval shall not be unreasonably withheld), and the Indemnified Party may participate in such defense at such party’s expense; and provided further that the failure

  
 10 

 
of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under is Section 2.6, to the extent such failure
is not prejudicial. 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 that 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. Each Indemnified Party shall furnish such information regarding itself or the claim
in question as an Indemnifying Party may reasonably request in writing and as shall be reasonably required in connection with defense of such claim and litigation resulting therefrom. 

(d) If the indemnification provided for in this Section 2.6 is held by a court of competent jurisdiction to be
unavailable to an Indemnified Party with respect to any loss, liability, claim, damage, or expense referred to herein, 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 well 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 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. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. 
 (e)
Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing
provisions, the provisions in the underwriting agreement shall control. 
 2.7 Information by Holder. Each Holder of
Registrable Securities shall furnish to the Company such information regarding such Holder and the distribution proposed by such Holder as the Company may reasonably request in writing and as shall be reasonably required in connection with any
registration, qualification, or compliance referred to in this Section 2. 
 2.8 Restrictions on Transfer.

 (a) The holder of each certificate representing Registrable Securities by acceptance thereof agrees to comply in all respects with the
provisions of this Section 2.8. Each Holder agrees not to make any sale, assignment, transfer, pledge or other disposition of all or any portion of the Restricted Securities, or any beneficial interest therein,
unless and until (x) the transferee thereof has agreed in writing for the benefit of the Company to take and hold such Restricted Securities subject to, and to be bound by, the terms and conditions set forth in this Agreement, including,
without limitation, this Section 2.8 and Section 2.10, except for transfers permitted under Section 2.8(b), and (y): 

(i) 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 

  
 11 

 (ii) Such Holder shall have given prior written notice to the Company of such Holder’s
intention to make such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition, and, such Holder shall have furnished the Company, at its expense, with (i) an
opinion of counsel, reasonably satisfactory to the Company, to the effect that such disposition will not require registration of such Restricted Securities under the Securities Act or (ii) a “no action” letter from the Commission to
the effect that the transfer of such securities without registration will not result in a recommendation by the staff of the Commission that action be taken with respect thereto, whereupon the holder of such Restricted Securities shall be entitled
to transfer such Restricted Securities in accordance with the terms of the notice delivered by the Holder to the Company. 
 (b) Permitted
transfers include (i) a transfer not involving a change in beneficial ownership, or (ii) transactions involving the distribution without consideration of Restricted Securities by any Holder to (x) a parent, subsidiary or other
affiliate of Holder that is a corporation, (y) any of its partners, members or other equity owners, or retired partners, retired members or other equity owners, or to the estate of any of its partners, members or other equity owners or retired
partners, retired members or other equity owners, or (z) a venture capital fund that is controlled by or under common control with one or more general partners or managing members of. or shares the same management company with, such Holder, or
(iii) transfers in compliance with Rule 144, as long as the Company is furnished with satisfactory evidence of compliance with such Rule; provided, in each case, that the Holder thereof shall give written notice to the Company of such
Holder’s intention to effect such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition. 

(c) 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, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED,
PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO REGISTRATION OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER
THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 
 THE SHARES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, INCLUDING A LOCK-UP PERIOD IN THE EVENT OF A PUBLIC OFFERING, AS SET FORTH IN AN INVESTORS’ RIGHTS AGREEMENT, A
COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE COMPANY. 

  
 12 

 The Holders consent to the Company making a notation on is records and giving instructions to any
transfer agent of the Restricted Securities in order to implement the restrictions on transfer established in this Section 2.8. 

(d) The first legend referring to federal and state securities laws identified in Section 2.8(c) hereof stamped on a certificate
evidencing the Restricted Securities and the stock transfer instructions and record notations with respect to such Restricted Securities shall be removed and the Company shall issue a certificate without such legend to the holder of such Restricted
Securities if (i) such securities are registered under the Securities Act, or (ii) such holder provides the Company with an opinion of counsel reasonably acceptable to the Company to the effect that a public sale or transfer of such
securities may be made without registration under the Securities Act, or (iii) such holder provides the Company with reasonable assurances, which may, at the option of the Company, include an opinion of counsel satisfactory to the Company, that
such securities can be sold pursuant to Rule 144 under the Securities Act. 
 2.9 Rule 144 Reporting. With a view to making
available the benefits of certain rules and regulations of the Commission that may permit the sale of the Restricted Securities to the public without registration, the Company agrees to use its commercially reasonable efforts to: 

(a) Make and keep public information regarding the Company available as those terms are understood and defined in Rule 144 under the Securities
Act, at all times from and after ninety (90) days following the effective date of the first registration under the Securities Act filed by the Company for an offering of its securities to the general public; 

(b) File with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the
Exchange Act at any time after it has become subject to such reporting requirements; and 
 (c) So long as a Holder owns any Restricted
Securities, furnish to the Holder forthwith upon written request a written statement by the Company as to its compliance with the reporting requirements of Rule 144 (at any time from and after ninety (90) days following the effective date of
the first registration statement filed by the Company for an offering of its securities to the general public), and of the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), a copy of the
most recent annual or quarterly report of the Company, and such other reports and documents so filed as a Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing a Holder to sell any such securities
without registration. 
 2.10 Market Stand-Off Agreement. Each Holder hereby agrees
that such Holder shall not sell or otherwise transfer, make any short sale of, grant any option for the purchase of, or enter into my hedging or similar transaction with the same economic effect as a sale, of any Common Stock (or other securities)
of the Company held by such Holder (other than those included in the registration) during the one hundred eighty (180) day period following the effective date of a registration statement of the Company filed under the Securities Act (or such
other period as may 

  
 13 

 
be requested by the Company or an underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and (ii) analyst recommendations
and opinions, including, but not limited to, the restrictions contained in NASD Rule 271l(f)(4) or NYSE Rule 472(l)(4), or any successor provisions or amendments thereto). The obligations described in this Section 2.10 shall not apply to a
registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely
to a transaction on Form S-4 or similar forms that may be promulgated in the future. The legends set forth in Section 2.8(c) hereof with respect to the shares of Common Stock (or
other securities) subject to the foregoing restriction until the end of such one hundred eighty (180) day (or other) period. Each Holder agrees to execute a market standoff agreement with said underwriters in customary form consistent with the
provisions of this Section 2.9. 
 2.11 Delay of Registration. No Holder shall have any right to take any action to
restrain, enjoin, or otherwise delay any registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

2.12 Transfer or Assignment of Registration Rights. The rights to cause the Company to register securities granted to a Holder
by the Company under this Section 2 may be transferred or assigned by a Holder only to a transferee or assignee of not less than 5,000 shares of Registrable Securities (as presently constituted and subject to subsequent adjustments for
stock splits, stock dividends, reverse stock splits, and the like); provided that (i) such transfer or assignment of Registrable Securities is effected in accordance with the terms of Section 2.8 hereof, the
ROFR Agreement, and applicable securities laws, (ii) the Company is given written notice prior to said transfer or assignment, stating the name and address of the transferee or assignee and identifying the securities with respect to which such
registration rights are intended to be transferred or assigned and (iii) the transferee or assignee of such rights assumes in writing the obligations of such Holder under this Agreement, including without limitation the obligations set forth in
Section 2.10. 
 2.13 Limitations on Subsequent Registration Rights. From and after the date of this
Agreement, the Company shall not, without the prior written consent of a majority in interest of the Holders, enter into any agreement with any holder or prospective holder of any securities of the Company giving such holder or prospective holder
any registration rights the terms of which are senior to the registration rights granted to the Holders hereunder. 
 2.14
Termination of Registration Rights. The right of any Holder to request registration or inclusion in any registration pursuant to Section 2.1, 2.2 or 2.3 shall terminate on the earlier of (i) such date on or after the closing of the
Company’s first registered public offering of Common Stock, on which all shares of Registrable Securities held or entitled to be held upon conversion by such Holder may immediately be sold under Rule 144 during any ninety (90) day period,
and (ii) three (3) years after the closing of the Company’s Initial Public Offering. 

  
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 Section 3 Information Covenants of the Company 

The Company hereby covenants and agrees, as follows: 

3.1 Basic Financial Information and Inspection Rights. 

(a) Basic Financial Information. The Company will furnish the following reports to each Significant Holder who holds Preferred Stock
and/or Conversion Stock: 
 (i) Not more than ninety (90) calendar days after the end of each fiscal year of the Company, an unaudited
consolidated balance sheet of the Company as at the end of such fiscal year, and consolidated statements of income and cash flows of the Company for such year certified by the chief executive officer or chief financial officer of the Company, and
for the first, second and third quarterly accounting periods in each fiscal year of the Company, an unaudited consolidated balance sheet of the Company as of the end of each such quarterly period, unaudited consolidated statements of income and cash
flows of the Company for such period and a current capitalization table of the Company showing the number of outstanding shares of Capital Stock certified by the chief executive officer or chief financial officer of the Company. 

(iii) At least thirty (30) calendar days prior to the beginning of each fiscal year a detailed business plan for the upcoming fiscal
year that includes a comprehensive operating budget forecasting the Company’s revenues, expenses, and cash position on a month-to-month basis for the upcoming
fiscal year. 
 (b) Inspection Rights. Each Significant Holder (who is not a competitor of the Company) shall have the right to visit
and inspect any of the properties of the Company, and to discuss the affairs, finances and accounts of the Company, at such Significant Holder’s expense, with its officers, and to review such information as is reasonably requested all during
normal business hours. The Company shall not be obligated under this Section 3.l(b) to provide access to any information that the Company reasonably considers to be a trade secret or similar confidential information.
Investors agree to keep, and to use the same degree of care as such Investors use to protect their own confidential information to keep, confidential and not misuse any Company information that the Company identifies as being confidential or
proprietary (so long as such information is not in the public domain) that is obtained by an Investor. 
 3.2 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. The Company shall not be required to comply with any information
rights of Section 3 in respect of any Holder whom the Company reasonably determines to be a competitor or an officer, employee, director or holder of more than ten percent (10%) of a competitor. 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, 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. 
 3.3 Board Matters. Unless otherwise agreed to by a majority of the Board of Directors of
the Company, the Company shall hold Board meetings at least once every quarter. The Preferred Designees shall be given the option to serve on any committee of the Board of Directors, whether now or in the future existing. 

  
 15 

 3.4 Directors’ Liability and Indemnification. The Company’s Amended and
Restated Certificate of Incorporation and the Company’s bylaws, each as may be amended from time to time, shall provide (a) for elimination of the liability of directors to the maximum extent permitted by law and (b) for
indemnification of directors for acts on behalf of the Company to the maximum extent permitted by law. The Company agrees to use commercially reasonable efforts to ensure that any successor to the Company have substantially similar obligations to
the foregoing. 
 3.5 Key Person Insurance. The Company shall maintain term life insurance on the lives of the Founders in
amounts and on terms reasonably acceptable to the Board of Directors. Such policies shall be owned by the Company and all benefits thereunder shill be payable to the Company. 

3.6 Option Vesting. Unless otherwise approved by the Board of Directors, all stock options and other stock equivalents granted or
issued on or after the date of this Agreement to employees shall be subject to vesting as follows: twenty-five percent (25%) of such stock shall vest at the end of the one (1) year anniversary following such person’s full-time services
commencement date with the Company and one-thirty sixth (1/36) of the remaining unvested portion shall vest each month thereafter until the four (4) year anniversary of such person’s full-time
service commencement date; provided that the optionee remains a full-time service provider as of the end of each such vesting period. 

3.7 Confidential Information and Invention Assignment Agreement. The Company shall require all of its key employees to execute
and deliver a Confidentiality and Assignment of Inventions Agreement in a form approved by the Board of Directors (including the Preferred Designees). 

3.8 Required Board Approvals. The Company will not, whether by amendment to its Amended and Restated Certificate of
Incorporation, merger, consolidation or otherwise, and whether directly or indirectly by or through any subsidiary, take or authorize the taking of the following actions without the approval of the Board of Directors, including the affirmative vote
of the Preferred Designees: 
 (a) make any loan or advance to, or own any stock or other securities of, any subsidiary or other corporation,
partnership, or other entity, unless it is wholly or majority owned by the Company; 
 (b) make any loan or advance to a related party,
including any employee, officer or director of the Company or of any subsidiary of the Company, except advances and similar expenditures in the ordinary course of business or under the terms of an employee stock or option plan approved by the Board
of Directors; 
 (c) guarantee any indebtedness, except for trade accounts of the Company, for any subsidiary or otherwise arising in the
ordinary course of business; 
 (d) make any investment other than investments in prime commercial paper, money market funds, certificates
of deposit in any United States bank having a net worth in excess of $100,000,000 or obligations issued or guaranteed by the United States of America, in each case having a maturity date in excess of two years; 

  
 16 

 (e) enter into or be a party to any transaction with any director, officer or employee of the
Company or any subsidiary of the Company or any “associate” (as defined in Rule 12b-2 promulgated under the Exchange Act) of any such person, except transactions made in the ordinary course of
business, and pursuant to reasonable requirements of the Company’s business and upon fair and reasonable terms that are approved by a majority of the Board of Directors; 

(f) involuntarily terminate the employment or Board services of Eugene Chan, Ian Chan or Wai kwan Benjamin Ha; 

(g) sell, license, transfer, exchange or dispose of any existing or future intellectual property of the Company or any subsidiary of the
Company, except in the ordinary course of business; or 
 (h) change the principal business of the Company unless it is within the
biotechnology industry (reagents, devices, diagnostics, therapeutics, etc.). 
 3.9 Termination of Covenants. The covenants
set forth in this Section 3 shall terminate and be of no further force and effect after the earlier of the closing of the Company’s Initial Public Offering or a Liquidation Event (as defined in the Company’s Amended and Restated
Certificate of Incorporation). 
 Section 4 Right of First Refusal 

4.1 Right of First Refusal to Significant Holders. The Company hereby grants to each Significant Holder, the right of first
refusal to purchase its pro rata share of New Securities (as defined in this Section 4.1(a)) that the Company may, from time to time, propose to sell and issue after the date of this Agreement. A Significant Holder’s
pro rata share, for purposes of this right of first refusal, is equal to the ratio of (a) the number of shares of Common Stock owned by such Significant Holder immediately prior to the issuance of New Securities (assuming full conversion of the
Preferred Stock and exercise of all outstanding convertible securities, rights, options and warrants, directly or indirectly, into Common Stock held by said Significant Holder) to (b) the total number of shares of Common Stock outstanding
immediately prior to the issuance of New Securities (assuming full conversion of the Preferred Stock and exercise of all outstanding convertible securities, rights, options and warrants, directly or indirectly, held by all of the Significant
Holders). 
 (a) “New Securities” shall mean any capital stock (including Common Stock and/or Preferred Stock) of the
Company whether now authorized or not, and rights, convertible securities, options or warrants to purchase such capital stock, and securities of any type whatsoever that are, or may become, exercisable or convertible into capital stock;
provided that the term “New Securities” does not include: 
 (i) shares of Common Stock issued upon conversion of
any shares of Preferred Stock; 
 (ii) up to 2,250,000 shares of Common Stock issued or issuable to officers, directors and employees of,
or consultants to, the Corporation pursuant to stock grants, option plans, purchase plans or other employee stock incentive programs or arrangements approved by the Board of Directors (including the Preferred Designees), or upon exercise of options
or convertible securities granted to such parties pursuant to any such plan or arrangement; 

  
 17 

 (iii) shares of Common Stock issued upon the exercise or conversion of any options or
convertible securities; 
 (iv) shares of Common Stock issued or issuable as a dividend or distribution on Preferred Stock or pursuant to
any event for which adjustment is made pursuant to the Company’s Amended and Restated Certificate of Incorporation; 
 (v) shares of
Common Stock issued in a registered public offering under the Securities Act; 
 (vi) securities or options issued or issuable to banks,
equipment lessors or other financial institutions pursuant to a debt financing or commercial leasing transaction, provided, that the value of such securities or Options does not to exceed, in each case, 10% of the value of such transaction;
and 
 (vii) any warrants or other convertible securities issued to the holders of Preferred Stock pursuant to those certain Series D
Subscription Agreement. 
 (b) In the event the Company proposes to undertake an issuance of New Securities, it shall give each Significant
Holder written notice of its 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 twenty (20) days after any such notice is
mailed or delivered 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, stating therein the quantity of New
Securities to be purchased. 
 (c) In the event the Significant Holders fail to exercise fully the right of first refusal within said twenty
(20) day period (the “Election Period”), the Company shall have ninety (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 ninety (90) days from the date of said agreement) to sell that portion of the New Securities with respect to which the Significant Holders’ right of first refusal option set forth in this Section 4.1was 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 delivered pursuant to Section 4.1(b)). In the event the Company has not
sold within such ninety (90) day period following the Election Period, or such ninety (90) day period following 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 this Section 4.1. 
 (d) The right of first
refusal granted under this Agreement shall expire upon, and shall not be applicable to the first to occur of (x) the Company’s Initial Public Offering or (y) a Liquidation Event (as defined in the Company’s Amended and Restated
Certificate of Incorporation). 
 Section 5 Miscellaneous 

5.1 Amendment. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended, waived, discharged
or terminated other than by a written instrument referencing this Agreement and signed by the Company and the Holders holding a majority of the Registrable Securities (excluding any of such shares that have been sold to the public or pursuant

  
 18 

 
to Rule 144); provided, however, that Holders purchasing shares of Preferred Stock after the date of this Agreement may become parties to this Agreement, by executing a counterpart
of this Agreement without any amendment of this Agreement pursuant to this paragraph or any consent or approval of any other Holder; and provided, further, that if any amendment, waiver, discharge or termination operates in a manner that treats any
Investor differently from other Investors, the consent of such Investor shall also be required for such amendment, waiver, discharge or termination. Any such amendment, waiver, discharge or termination effected in accordance with this paragraph
shall be binding upon each Holder and each future holder of all such securities of Holder. Each Holder acknowledges that by the operation of this paragraph, the holders of a majority of the Registrable Securities (excluding any of such shares that
have been; sold to the public or pursuant to Rule 144) will have the right and power to diminish or eliminate all rights of such Holder under this Agreement. 

5.2 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 electronic mail or otherwise delivered by hand or by messenger addressed: 

(a) if to an Investor, other than Golden Billion Limited or Healthcare Industry (Cayman) A Co., Limited., at the Investor’s address,
facsimile number or electronic mail address as shown in the Company’s records, as may be updated in accordance with the provisions hereof; 

(b) if to Golden Billion Limited, one copy shall be sent via DHL/Fedex to Golden Billion Limited, Unit 1001, Fourseas Building, 208-212 Natrhan Road, Jordon, Kowloon, Hong Kong, Attn: Ms. Diana Chui, with deemed receipt within 5 business days from posting; 

(c) if to Healthcare Industry (Cayman) A Co., Limited., one copy shall be sent via DHL/Fedex to c/o Shanghai Good Health Capital Management
Co., Ltd,___100 Zunyi Road, Building A, Suite 1813, Shanghai 200051, PRC , with deemed receipt within 5 business days from posting; 
 (d)
if to any Holder, at such address, facsimile number or electronic mail address as s own in the Company’s records, or, until any such holder so furnishes an address, facsimile number or electronic mail address to the Company, then to and at the
address of the last holder of such shares for which the Company has contact information in its records; or 
 (e) if to the Company, one
copy should be sent to Abpro Corporation, 65 Cummings Park, Woburn Massachusetts, 01801, Attn: Ian Chan, Chief Executive Officer, or at such other address as the Company shall have furnished to the Investors, with a copy to Morse,
Barnes-Brown & Pendleton, PC, 230 Third Avenue, Waltham, Massachusetts 02451, Attn: Joseph C. Marrow, Esq. 
 Each such notice or
other communication, other than notices or communications to Golden Billion Limited or Healthcare Industry (Cayman) A Co., Limited. which shall be delivered in accordance with Section 5.2(b) above, 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 or, if sent by electronic mail, upon confirmation of delivery when directed to the electronic mail address set forth on the Schedule of
Investors. 

  
 19 

 5.3 Governing Law. This Agreement shall be governed in all respects by the internal
laws of the State of Delaware as applied to agreements entered into among Delaware residents to be performed entirely within Delaware, without regard to principles of conflicts of law. 

5.4 Successors and Assigns. This Agreement, and any and all rights, duties and obligations hereunder, shall not be assigned,
transferred, delegated or sublicensed by any Investor without the prior written consent of the Company. Any attempt by an Investor without such permission to assign, transfer, delegate or sublicense any rights, duties or obligations that arise under
this Agreement shall be void. Subject to the foregoing and except as otherwise provided herein, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the
parties 
 5.5 Entire Agreement. This Agreement and the exhibits hereto constitute the full and entire understanding and
agreement between the parties with regard to the subjects hereof. No party hereto shall be liable or bound to any other party in any manner with regard to the subjects hereof or thereof by any warranties, representations or covenants except as
specifically set forth herein. 
 5.6 Delays or Omissions. Except as expressly provided herein, no delay or omission to
exercise any right, power or remedy accruing to any party to this Agreement upon any breach or default of any other party under this Agreement shall impair any such right, power or remedy of such
non-defaulting party, nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver of
any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this
Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by
law or otherwise afforded to any party to this Agreement, shall be cumulative and not alternative. 
 5.7 Severability. If any
provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this
Agreement, and such court will replace such illegal, void or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal,
void or unenforceable provision. The balance of this Agreement shall be enforceable in accordance with its terms. 
 5.8 Titles
and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. All references in this Agreement to sections, paragraphs and exhibits shall,
unless otherwise provided, refer to sections and paragraphs hereof and exhibits attached hereto. 
 5.9 Counterparts. This
Agreement may be executed in any number of counterparts, each of which shall be enforceable against the parties that execute such counterparts, and all of which together shall constitute one instrument. 

  
 20 

 5.10 Telecopy Execution and Delivery. A facsimile, telecopy or other reproduction
of this Agreement may be executed by one or more parties hereto and delivered by such party by facsimile or any similar electronic transmission device pursuant to which the signature of or on behalf of such party can be seen. Such execution and
delivery shall be considered valid, binding and effective for all purposes. At the request of y party hereto, all parties hereto agree to execute and deliver an original of this Agreement as well as any facsimile, telecopy or other reproduction
hereof. 
 5.11 Arbitration 

Regarding any dispute arising hereunder, the parties hereto shall first attempt in good faith to resolve such dispute among the applicable
parties. If such attempt fails, then any dispute between or among the parties to this Agreement relating to or in respect of this Agreement, its negotiation, execution performance, subject matter, or any course of conduct or dealing or actions under
or in respect of this Agreement, shall be submitted to, and resolved exclusively pursuant to arbitration in accordance with the commercial arbitration rules of the American Arbitration Association (“AAA”) or the Judicial Arbitration
and Mediation Services, Inc. (“JAMS”). Such arbitration shall take place at the Singapore International Arbitration Center, with one mutually acceptable arbitrator presiding at such arbitration proceeding, and shall be subject to
the substantive law of the State of Delaware. Decisions pursuant to such arbitration shall be final, conclusive and binding on the parties. Upon the conclusion of arbitration, the parties may apply to any state court of the State of Delaware, the
United States District Courts in the State of Delaware, any state court of the Commonwealth of Massachusetts or the United States District Courts in the District of Massachusetts to enforce the decision pursuant to such arbitration. ACCORDINGLY,
EACH OF THE PARTIES HERETO HEREBY WAIVES ITS RIGHT, IF ANY, TO A JURY TRIAL IN RESPECT OFSUCH DISPUTE. 
 5.12 Further
Assurances. Each party hereto agrees to execute and deliver, by the proper exercise of its corporate, limited liability’ company; partnership or other powers, all such other and additional instruments and documents and do all such other
acts and things as may be necessary to more fully effectuate this Agreement. 
 5.13 Termination Upon Change of
Control. Notwithstanding anything to the contrary herein, this Agreement (excluding any then-existing obligations) shall terminate upon the earliest of (a) the acquisition of the Company by another entity by means of any transaction or
series of related transactions to which the Company is party (including, without limitation, any stock acquisition, reorganization, merger or consolidation but excluding any sale of stock for capital raising purposes) other than a transaction or
series of transactions in which the holders of the voting securities of the Company outstanding immediately prior to such transaction continue to retain (either by such voting securities remaining outstanding or by such voting securities being
converted into voting securities of the surviving entity), as a result of shares in the Company held by such holders prior to such transaction, at least fifty percent (50%) of the total voting power represented by the voting securities of the
Corporation or such surviving entity outstanding immediately after such transaction or series of transactions; or (b) a sale, lease or other conveyance of all substantially all of the assets of the Company or (c) an Initial Public
Offering; provided, however, the rights and obligations set forth in Section 2 shall continue for three (3) years after the closing of the Company’s Initial Public Offering in accordance with Section 2.14. 

  
 21 

 5.14 Conflict. In the event of any conflict between the terms of this Agreement and
the Company’s Amended and Restated Certificate of Incorporation or its Bylaws, the terms of the Company’s Amended and Restated Certificate of Incorporation or its Bylaws, as the case may be, will control. 

5.15 Attorneys’ Fees. In the event that any suit or action is instituted to enforce any provision in this Agreement, the
prevailing party in such dispute shall be entitled to recover from the losing party such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. 

5.16 Aggregation of Stock. All securities held or acquired by affiliated entities (including affiliated venture capital funds)
or persons shall be aggregated together for purposes of determining the availability of any rights under this Agreement. 
 (Remainder of
Page Intentionally Left Blank) 

  
 22 

 IN WITNESS WHEREOF, the parties hereto have executed this Third Amended and Restated
Investors’ Rights Agreement effective as or the day and year first above written. 
  

	
	COMPANY:
	
	Abpro Corporation
	
	   

	Name: Ian Chan
	Title: CEO

 (Signature Page to Third Amended and Restated Investors’ Rights Agreement) 

 IN WITNESS WHEREOF, the parties hereto have executed this Third Amended and Restated
Investors’ Rights Agreement effective as or the day and year first above written. 
  

			
	INVESTORS:
	
	 Series A Preferred Stock

	
	 Golden Billion Limited

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 Chick Reeder

	
	 Dragon Wealth International

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 Leland Gershell

	
	 WS Investment Company, LLC

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 Peter
Coppa

  

			
	 Obinna Onyeagoro

 (Signature Page to Third Amended and Restated Investors’ Rights Agreement) 

 
			
	 Series B Preferred Stock

	
	 Agathis Capital L.P.

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 Ingalls & Snyder, LLC

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 Series C Preferred Stock

	
	 Essex Bio

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 Apex Partners

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 AngelVest Fund LP

		
	 By:
	 	 
		 	 Name:

		 	Title:

 
			
	 Amity Capital Global LP

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 Ngiam Mia Hai
Bernard

  

			
	 Ngiam Mia Hong
Alfred

  

			
	 Ngiam Hian Leng
Malcolm

  

			
	 Ngiam Hian Yong Jeffrey

  

			
	 Series D Preferred Stock

	
	 Healthcare Industry (Cayman) A

	 Co., Limited

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 Palevon Investment Limited

		
	 By:
	 	 
		 	 Name:

		 	 Title:

 
			
	 Ally Smart Limited

		
	 By:
	 	 
		 	 Name:

		 	Title:

 (Signature Page to Third Amended and Restated Investors’ Rights Agreement) 

 EXHIBIT A 

INVESTORS 
 Series A Preferred Stock
– Name and Address 
 Golden Billion Limited 

[Address] 
 Chick Reeder 

[Address] 
 Dragon Wealth International 

[Address] 
 Leland Gershell 

[Address] 
 WS Investment Company, LLC Attn: James Terranova 

[Address] 
 Peter Coppa 

[Address] 
 Obinna Onyeagoro 

[Address] 
 Series B Preferred Stock – Name and Address

 Agathis Capital L.P. 
 Ingalls & Snyder, LLC

 Series C Preferred Stock – Name and Address 

Essex Bio-Investment Limited 

[Address] 
 Ngiam Mia Hong Alfred 

20 Yarwood Avenue 
 Singapore 587992 

Ngiam Hian Leng Malcolm 
 [Address] 

Ngiam Mia Hai Bernard 
 [Address] 

Ngiam Hian Yong Jeffrey 
 [Address] 

 AngelVest Fund LP 

[Address] 
 Apex Partners II, Ltd. 

[Address] 
 Series D Preferred Stock – Name and Address

 Healthcare Industry (Cayman) A Co., Limited 
 [Address]

 Palevon Investment Limited 
 [Address] 

Ally Smart Limited 
 [Address]

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