Document:

EX-4.2

 Exhibit 4.2 

EIGHTH AMENDED AND RESTATED 

STOCKHOLDERS’ AGREEMENT 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
	 1.
	 	Definitions	  	 	1	  
			
	 2.
	 	Registration Rights	  	 	5	  
				
		 	2.1	  	Request for Registration	  	 	5	  
				
		 	2.2	  	Company Registration	  	 	6	  
				
		 	2.3	  	Obligations of the Company	  	 	7	  
				
		 	2.4	  	Furnish Information	  	 	9	  
				
		 	2.5	  	Expenses of Registration	  	 	9	  
				
		 	2.6	  	Underwriting Requirements	  	 	9	  
				
		 	2.7	  	Delay of Registration	  	 	9	  
				
		 	2.8	  	Indemnification	  	 	10	  
				
		 	2.9	  	Reports Under Securities Exchange Act of 1934	  	 	12	  
				
		 	2.10	  	Form S-3 Registration	  	 	12	  
				
		 	2.11	  	Assignment of Registration Rights	  	 	14	  
				
		 	2.12	  	“Market Stand-Off” Agreement	  	 	14	  
				
		 	2.13	  	Termination of Registration Rights	  	 	14	  
				
		 	2.14	  	Amendment of Registration Rights	  	 	15	  
				
		 	2.15	  	Limitations on Subsequent Registration Rights	  	 	15	  
			
	 3.
	 	Information Rights	  	 	15	  
				
		 	3.1	  	Inspection	  	 	15	  
				
		 	3.2	  	Delivery of Financial Statements	  	 	15	  
				
		 	3.3	  	Maintenance of Books	  	 	16	  
				
		 	3.4	  	Sarbanes-Oxley Compliance	  	 	16	  
				
		 	3.5	  	Termination of Information Rights	  	 	16	  
			
	 4.
	 	Investors’ Right of First Offer	  	 	16	  
				
		 	4.1	  	Right of First Offer	  	 	16	  
				
		 	4.2	  	Notice of Proposed Issuance	  	 	16	  
				
		 	4.3	  	Transfer of Rights	  	 	17	  
				
		 	4.4	  	Termination of Rights	  	 	17	  
				
		 	4.5	  	Limitations on Subsequent Rights	  	 	17	  

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
			
	 5.
	 	Employee Matters	  	 	17	  
				
		 	5.1	  	Proprietary Rights Agreement	  	 	17	  
		 	5.2	  	Voting By Major Common Holders	  	 	17	  
			
	 6.
	 	Board of Directors	  	 	18	  
				
		 	6.1	  	Board Representation	  	 	18	  
				
		 	6.2	  	Board of Directors	  	 	19	  
				
		 	6.3	  	Removals; Vacancies	  	 	19	  
				
		 	6.4	  	Board Meetings	  	 	19	  
				
		 	6.5	  	Board Observer Rights	  	 	19	  
				
		 	6.6	  	No Liability for Election of Recommended Directors; Manner of Voting	  	 	20	  
				
		 	6.7	  	Covenants of the Company	  	 	20	  
				
		 	6.8	  	Additional Shares	  	 	20	  
				
		 	6.9	  	Termination	  	 	20	  
			
	 7.
	 	Drag-Along Rights	  	 	21	  
				
		 	7.1	  	Right to Compel Sale	  	 	21	  
				
		 	7.2	  	Exercise of Right	  	 	21	  
				
		 	7.3	  	Failure to Consummate the Approved Sale	  	 	22	  
				
		 	7.4	  	Legend on Share Certificates	  	 	22	  
				
		 	7.5	  	Termination	  	 	22	  
			
	 8.
	 	Transfers by Major Common Holders	  	 	22	  
				
		 	8.1	  	Offering Notice	  	 	22	  
				
		 	8.2	  	The Company’s Option to Purchase	  	 	23	  
				
		 	8.3	  	Co-Sale and Right of First Refusal Rights	  	 	23	  
				
		 	8.4	  	Termination of Transfer Restrictions	  	 	25	  
			
	 9.
	 	Covenants	  	 	25	  
				
		 	9.1	  	Special Board Approval Rights; Preferred Stock Protective Provisions	  	 	25	  
				
		 	9.2	  	Stock Vesting	  	 	26	  
				
		 	9.3	  	Repurchase Rights	  	 	26	  
				
		 	9.4	  	Transfer of Shares	  	 	26	  
				
		 	9.5	  	Major Common Holders	  	 	26	  
				
		 	9.6	  	Termination of Covenants	  	 	26	  

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
			
	 10.
	 	Miscellaneous Matters	  	 	26	  
				
		 	 10.1
	  	Waivers and Amendments	  	 	26	  
				
		 	 10.2
	  	Notices	  	 	27	  
				
		 	 10.3
	  	Descriptive Headings	  	 	27	  
				
		 	 10.4
	  	Governing Law	  	 	27	  
				
		 	 10.5
	  	Counterparts	  	 	27	  
				
		 	 10.6
	  	Expenses	  	 	27	  
				
		 	 10.7
	  	Specific Enforcement; Grant of Proxy	  	 	27	  
				
		 	 10.8
	  	Successors and Assigns	  	 	27	  
				
		 	 10.9
	  	Entire Agreement	  	 	27	  
				
		 	 10.10
	  	Separability; Severability	  	 	28	  
				
		 	 10.11
	  	Stock Splits	  	 	28	  
				
		 	 10.12
	  	Aggregation of Stock	  	 	28	  
				
		 	 10.13
	  	Amendment of Prior Stockholders’ Agreement	  	 	28	  
				
		 	 10.14
	  	Irrevocable Proxy and Power of Attorney	  	 	28	  

  
 -iii- 

 EIGHTH AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT 

This Eighth Amended and Restated Stockholders’ Agreement (this “Agreement”) is made as of October 28th, 2013 (the “Effective Date”) by and among Five9, Inc., a Delaware corporation (the “Company”), the Major Common Holders (as defined below), and the Holders (as
defined below), each as listed on Exhibit A attached hereto. 
 RECITALS 

WHEREAS, as a condition to the closing of the sale and issuance of shares of Series D-2 Preferred Stock of the Company (the
“Series D-2 Stock”) pursuant to the Series D-2 Preferred Stock Purchase Agreement dated as of April 26, 2013 (the “Purchase Agreement”), the Prior Stockholders’ Agreement (as defined below) was
executed and delivered by the Major Common Holders, the Holders and the Company. 
 WHEREAS, the Company, the Major Common Holders
and certain of the Holders are parties to that Seventh Amended and Restated Stockholders’ Agreement dated as of April 26, 2013 (the “Prior Stockholders’ Agreement”); and 

WHEREAS, the parties desire to enter into this Agreement in order to (i) amend and restate the Prior Stockholders’ Agreement
in its entirety and replace it with this Agreement and (ii) revise Section 6 of this Agreement to reflect the increased size of the Company’s Board of Directors pursuant to the Restated Certificate. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the mutual premises and covenants set forth herein, the parties hereto agree to amend and restate the Prior Stockholders’ Agreement as follows: 

1. Definitions. For purposes of this Agreement: 

(a) “Acquisition” shall mean the occurrence of any of the following events: (A) any consolidation or merger of the
Company with or into any other corporation or other entity or person, or any other corporate reorganization after which the stockholders of the Company immediately prior to such consolidation, merger or reorganization, fail to own at least 50% of
the voting power of the surviving entity immediately following such consolidation, merger or reorganization in approximately the same relative percentages as prior to such consolidation, merger or reorganization, (B) any transaction or series
of related transactions in which in excess of fifty percent (50%) of the Company’s voting power is transferred, but excluding in the case of (A) and (B) (x) any consolidation or merger effected exclusively to change the
domicile of the Company or (y) any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Company or indebtedness of the Company is cancelled or converted or a combination
thereof, or (C) a sale, lease, exclusive license or other disposition of all or substantially all of the assets of the Company. 

  
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 (b) “Affiliate” shall mean, with respect to any specified Person, any other
Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms
“controlled by” and “under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person,
whether through the ownership of voting securities, by agreement or otherwise. Without limiting the foregoing, (i) all directors and officers of a Person that is a corporation or company, all general partners and limited partners of a
partnership or limited partnership, and all managing members and members of a Person that is a limited liability company, shall be deemed Affiliates of such Person for all purposes hereunder, (ii) in the case of an individual, Affiliate shall
include (x) members of such specified Person’s immediate family (as defined in Instruction 1 of Item 404(a) of Regulation S-K under the Securities Act) and (y) trusts, the trustee and all beneficiaries of which are such specified
Person or members of such Person’s immediate family as determined in accordance with the foregoing clause (x). 
 (c) “Common
Stock” shall mean shares of the Company’s common stock, $0.001 par value per share. 
 (d) “Exchange Act”
shall mean the Securities Exchange Act of 1934 as amended, or any similar Federal statute and the rules and regulations of the SEC thereunder, all as the same shall be in effect at the time. 

(e) “Excluded Securities” shall mean (i) any shares of Common Stock issued upon conversion of any Preferred Stock;
(ii) shares of Common Stock issued pursuant to the acquisition of another entity by the Company by merger, purchase of substantially all of the assets or other reorganization, or in any transaction in which the Company’s stockholders
immediately prior to such transaction collectively own immediately after such transaction more than 51 % of the voting power of the surviving corporation or its parent, provided such transaction and issuance is approved by the Board of
Directors of the Company (the “Board”), including a majority of the Preferred Stock Directors (as defined in Section 6.1); (iii) shares issued other than for primarily equity raising purposes, in connection with strategic
transactions involving the Company and other entities, including the issuance of securities to financial lending institutions or in connection with commercial credit, equipment leasing or equipment financing arrangements, joint ventures, corporate
partnering agreements, customer or vendor transactions, manufacturing, marketing or distribution arrangements and licensing, technology transfer or development arrangements; provided that such transaction and the issuance of shares is approved by
the Board, including a majority of the Preferred Stock Directors; (iv) up to 6,023,056 shares of capital stock and/or stock options (plus an additional number of shares of capital stock or stock options that are cancelled or terminated without
having been exercised and are again available for grant under the applicable plan) issued (including upon exercise of such stock options) to officers, employees, directors, consultants or advisors pursuant to a stock grant, stock option or purchase
plan or other employee stock incentive program approved by the Board, including a majority of the Preferred Stock Directors; (v) securities issued in connection with the Qualified IPO; (vi) shares of Common Stock and Preferred Stock issued
or issuable upon the exercise of any warrants, options or rights that are outstanding as of the Effective Date; (vii) shares of Common Stock issued by way of dividends, 

  
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stock splits, or other distributions on shares of Common Stock if appropriate adjustments are made in connection with such issuance pursuant to Sections 4(e)(iii), (iv) or (v) of the
Company’s Amended and Restated Certificate of Incorporation and (viii) shares of Preferred Stock issued pursuant to the Purchase Agreement. 

(f) “Exempt Transfer” shall mean (i) Transfers of Shares pursuant to a Qualified IPO; (ii) Transfers pursuant to a
Rule 144 Open Market Transaction, (iii) Transfers directly to, or for the benefit of a Holder’s spouse or children, or to trusts, partnerships or any other entity for the benefit of such Person or Person’s family primarily for estate
planning purposes; (iv) Transfers by a Holder to his heirs, executors, personal representatives or other assigns as a result of his death and Transfers by a Holder to the heirs, executors, personal representatives or other assignors of an
Affiliate of such Holder as a result of the death of such Affiliates; (v) Transfers without consideration by a Holder to his or its Affiliates (including with respect to Holders which are partnerships, Transfer to their partners); and
(vi) Transfers by a Major Common Holder through bona fide gifts of up to an aggregate maximum of five percent (5%) of all Shares held by such Major Common Holder on the Effective Date; provided, however, that (x) Major Common Holders
shall only be permitted to Transfer Shares which are fully vested and/or no longer subject to any repurchase right in favor of the Company and (y) any such Transfer shall not be to any entity deemed in good faith by the Board to be a
competitor, or Affiliate of a competitor, of the Company. In addition, any Transferee pursuant to (iii), (iv), (v) and (vi) above, prior to the effectiveness of any Transfer, must first agree to be bound by Sections 6, 7, 8 and 10 of this
Agreement. 
 (g) “Form S-3” shall mean such form under the Securities Act as in effect on the date hereof or any
registration form under the Securities Act subsequently adopted by the Securities and Exchange Commission (the “SEC”) which permits inclusion or incorporation of substantial information by reference to other documents filed by the
Company with the SEC. 
 (h) “Holder” shall mean any Person owning or having the right to acquire Registrable Securities or
any assignee thereof in accordance with Section 2.11 hereof; provided, however, that a Major Common Holder shall only be deemed a Holder for the purposes of Sections 2.2, 2.4, 2.5, 2.6, 2.7, 2.8, 2.12 and 2.13 and shall not be entitled to any
of the other rights granted to Holders under this Agreement. 
 (i) “Major Common Holder” shall mean any Person, other than
any Investor (as defined in the Purchase Agreement) participating in any Closing (as defined in the Purchase Agreement) and any other owner of Preferred Stock on the Effective Date, who at any time after the Effective Date is an employee of the
Company and owns and/or has the right to acquire shares of Common Stock which, in the aggregate, are equal to at least one percent (1.0%) of all Shares. 

(j) “New Securities” shall mean any capital stock (or rights to acquire capital stock) of the Company other than Excluded
Securities. 

  
 3 

 (k) “Preferred Stock” shall mean shares of the Company’s Series D-2 Stock,
Series C-2 Preferred Stock, Series B-2 Preferred Stock and Series A-2 Preferred Stock, $0.001 par value per share. 
 (l)
“Person” shall mean an individual or company, partnership, limited liability company, trust, or any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

(m) “Qualified IPO” shall mean the closing of a firm commitment underwritten public offering pursuant to an effective
registration statement under the Securities Act covering the offer and sale of Common Stock for the account of the Company to the public in which the public offering price exceeds (prior to underwriter discounts or commissions and offering expenses)
$2.88 per share (adjusted for any subsequent stock splits, stock dividends, reclassifications or recapitalizations) and the aggregate gross proceeds raised by the Company equal or exceed $35,000,000. 

(n) “register,” “registered,” and “registration” refer to a registration effected by
preparing and filing a registration statement or similar document in compliance with the Securities Act and the declaration or ordering of effectiveness of such registration statement or document. 

(o) “Registrable Securities” shall mean (i) the Common Stock issuable or issued upon conversion of the Preferred Stock;
(ii) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of,
any Preferred Stock; (iii) with respect to Sections 2.2, 2.4, 2.5, 2.6, 2.7, 2.8, 2.12 and 2.13 only, any Common Stock held by a Major Common Holder and (iv) the Common Stock issued upon the conversion or execution of any notes or warrants
of the Company which notes or warrants were issued and outstanding prior to the execution of the Purchase Agreement; excluding in all cases, however, (1) any Shares sold by a Person in a transaction in which such person’s rights under
Section 2 hereof are not assigned, or (2) any Shares sold to or through a broker or dealer or underwriter in a public distribution or a public securities transaction. 

(p) The number of shares of “Registrable Securities then outstanding” shall be determined by the number of shares of Common
Stock outstanding which are, and the number of shares of Common Stock issuable pursuant to then exercisable or convertible securities which are, Registrable Securities. 

(q) “Rule 144 Open Market Transaction” shall mean any bona fide public sale of Shares in an open market transaction under
Rule 144 of the Securities Act (or any successor rule) if such sale is in compliance with the requirements of paragraphs (c), (d), (e), (f) and (g) of such Rule 144. 

(r) “Securities Act;’ means the Securities Act of 1933, as amended, or any similar Federal statute and the rules and
regulations of the SEC thereunder, all as the same shall be in effect at the time. 

  
 4 

 (s) “Shares” shall mean, collectively, (a) all issued and outstanding
shares of Common Stock, (b) all shares of Common Stock issuable under outstanding options, warrants and other rights of any kind to purchase Common Stock, directly or indirectly, and (c) all shares of Common Stock issuable pursuant to
outstanding securities convertible into or exchangeable for Common Stock, directly or indirectly. Whenever this Agreement refers to a number or percentage of Shares, such number or percentage shall be calculated as if each of the Shares had been
exchanged, exercised or converted into shares of Common Stock immediately prior to such calculation. For purposes of determining the number of Shares held by any Person, such Person shall be deemed to hold all Shares held by such Person’s
Affiliates. The total number of Shares held by all Major Common Holders and all Holders as of the Effective Date is listed on Exhibit A. 

(t) The term “Transfer” shall mean (i) when used as a noun: any direct or indirect transfer, sale, short sale,
assignment, pledge, hypothecation, encumbrance, gift, bequest, devise, descent or other disposition and (ii) when used as a verb: to directly or indirectly, whether voluntary, involuntarily, or by operation of law, transfer, sell, short sell,
assign, pledge, hypothecate, encumber, gift, bequest, devise, descent or otherwise dispose of. 
 (u) “Transferee” shall
mean any Person to whom Shares have been Transferred in compliance with the terms of this Agreement. 
 2. Registration Rights. 

2.1 Request for Registration. 

(a) If the Company shall receive at any time after the earlier of (i) three years from the date of this Agreement or (ii) six
(6) months following the effective date of the first registration statement for a public offering of securities of the Company (other than a registration statement relating either to the sale of securities to employees of the Company pursuant
to a stock option, stock purchase or similar plan or a SEC Rule 145 transaction) (the “Initial Registration”), a written request from the Holders of at least thirty (30%) of the Registrable Securities then outstanding (the
“Initiating Holders”) that the Company file a registration statement under the Securities Act covering the registration of Registrable Securities with an aggregate offering price expected to exceed $10,000,000, then the Company
shall, within ten (10) days of the receipt thereof, give written notice of such request to all Holders and shall, subject to the limitations of Section 2.1(b), use its best efforts to effect as soon as practicable the registration under
the Securities Act of all Registrable Securities which the Holders request to be registered within twenty (20) days of the mailing of such written notice by the Company; provided, however, that the Company shall not be obligated to take any
action to effect any such registration, qualification or compliance pursuant to this Section 2.1(a): 
 (i) During the period starting
with the date one-hundred twenty (120) days prior to the Company’s estimated date of filing of, and ending on the date one-hundred eighty (180) days immediately following the effective date of, any registration statement pertaining to
securities of the Company (other than a registration of securities in a Rule 145 transaction or with respect to an employee benefit plan), provided that the Company is actively employing in good faith all reasonable efforts to cause such
registration statement to become effective; 

  
 5 

 (ii) After the Company has effected two (2) such registrations pursuant to this
Section 2.1 (a), and each such registration has been declared or ordered effective (counting for these purposes only registrations which have been declared or ordered effective); 

(iii) If the Company shall furnish to such Holders a certificate signed by the Chief Executive Officer or President of the Company stating
that in the good faith judgment of the Board it would be seriously detrimental to the Company or its stockholders for a registration statement to be filed at such time, then the Company’s obligation to use its best efforts to register, qualify
or comply under this Section 2.1(a) shall be deferred for a period not to exceed 120 days from the date of receipt of the written request from the Holders; provided, however, that the Company may not utilize this right more than once in any
twelve-month period. 
 (b) If the Initiating Holders 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 pursuant to this Section 2.1 and the Company shall include such information in the written notice referred to in Section 2.1(a). 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. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as
provided in Section 2.3(e)) enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by the Company with the approval of a majority in interest of the Initiating Holders.
Notwithstanding any other provision of this Section 2.1, if the underwriter advises the Initiating Holders in writing that marketing factors require a limitation of the number of shares to be underwritten, then the Initiating Holders shall so
advise all Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the number of shares of Registrable Securities that may be included in the underwriting shall be allocated among all Holders thereof, including
the Initiating Holders, in the proportion (as nearly as practicable) that the amount of Registrable Securities of the Company owned by each Holder participating in such underwriting bears to the number of shares of Registrable Securities held by all
such Holders; provided, however, that the number of shares of Registrable Securities to be included in any such underwriting shall not be reduced unless all other securities, including any shares offered by the Company, are first entirely excluded
from the underwriting. 
 2.2 Company Registration. If (but without any obligation to do so) the Company proposes to register
(including for this purpose a registration effected by the Company for stockholders other than the Holders, but excluding any registration pursuant to Section 2.10 hereof) any of its stock or other securities under the Securities Act in
connection with the public offering of such securities solely for cash (other than a registration relating solely to the sale of securities to participants in a Company stock plan, or a registration on any form which does not include substantially
the same information as would be required to be included in a registration 

  
 6 

 
statement covering the sale of the Registrable Securities), the Company shall, at such time, promptly give each Holder written notice of such registration. Upon the written request of each Holder
given within twenty (20) days after mailing of written notice by the Company, the Company shall, subject to the provisions of Section 2.6, cause to be registered under the Securities Act all of the Registrable Securities that each such
Holder has requested to be registered. 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. The registration expenses of such withdrawn registration shall be borne by the Company in accordance with Section 2.5 hereof. The underwriting and cut-back requirements for any registration under this
Section 2.2 are as set forth in Section 2.6 hereof. 
 2.3 Obligations of the Company. Whenever required under this
Section 2 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 
 (a)
Prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective, and, upon the request of the holders of a majority of the
Registrable Securities registered thereunder, keep such registration statement effective for the earlier of one hundred twenty (120) days or until the distribution described in the Registration Statement has been completed if a shorter period
(the “Effectiveness Period”); provided, however, that (i) the Effectiveness Period shall be extended for a period of time equal to the period the Holder refrains from selling any securities included in such registration at the
request of an underwriter of Common Stock (or other securities) of the Company; and (ii) in the case of any registration of Registrable Securities on Form S-3 which are intended to be offered on a continuous or delayed basis, the Effectiveness
Period shall be extended, if necessary, to keep the registration statement effective until all such Registrable Securities are sold up to 180 days, provided that Rule 415, or any successor rule under the Securities Act, permits an offering on a
continuous or delayed basis, and provided further that applicable rules under the Securities Act governing the obligation to file a post effective amendment permit, in lieu of filing a post effective amendment which (A) includes any prospectus
required by Section 10(a)(3) of the Securities Act or (B) reflects facts or events representing a material or fundamental change in the information set forth in the registration statement, the incorporation by reference of information
required to be included in (A) and (B) above to be contained in periodic reports filed pursuant to Section 13 or 15(d) of the Exchange Act in the registration statement. 

(b) Prepare and file with the SEC 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. 

(c) Furnish to the Holders such numbers of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of
the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them. 

  
 7 

 (d) Use its best efforts to register and qualify the securities covered by such registration
statement under the other securities or Blue Sky laws of such other jurisdictions 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) In the event of any underwritten
public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering. Each Holder participating in such underwriting shall also enter into and perform
its obligations under such an agreement. 
 (f) Notify each Holder 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 in the light of the circumstances then existing, and, as promptly as practicable thereafter, prepare and file with the SEC, and
furnish without charge to the appropriate Holders and managing underwriters, if any, a supplement or amendment to such registration statement or prospectus which will correct such statement or omission and such copies thereof as the Holders and any
underwriters may reasonably request. 
 (g) Cause all such Registrable Securities registered pursuant hereunder to be listed on each
securities exchange or automated quotation system on which similar securities issued by the Company are then listed. 
 (h) Provide a
transfer agent and registrar for all Registrable Securities registered pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration. 

(i) Furnish, at the request of any Holder requesting registration of Registrable Securities pursuant to this Section 2, on the date that
such Registrable Securities are delivered to the underwriters for sale in connection with a registration pursuant to this Section 2, if such securities are being sold through underwriters, or, if such securities are not being sold through
underwriters, on the date that the registration statement with respect to such securities becomes effective, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance
as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and (ii) a letter dated such date, from the independent certified public accountants of the Company, in form and substance as is
customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities (to the extent the then
applicable standards of professional conduct permit said letter to be addressed to the Holders). 
 (j) Use its best efforts to comply with,
and remain in compliance with the Sarbanes-Oxley Act of 2002, as amended. 

  
 8 

 2.4 Furnish Information. It shall be a condition precedent to the obligations of the
Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and
the intended method of disposition of such securities as shall be required to effect the registration of such Holder’s Registrable Securities. 

2.5 Expenses of Registration. The Company shall bear and pay all expenses incurred in connection with any registration, filing or
qualification of Registrable Securities with respect to the registrations pursuant to Sections 2.1, 2.2 and 2.10 for each Holder (which right may be assigned as provided in Section 2.11), including (without limitation) all registration, filing,
and qualification fees, printers and accounting fees relating or apportionable thereto, and the reasonable fees and expenses of one counsel selected by the selling Holders to represent the selling Holders, but excluding stock transfer taxes and any
underwriting discounts and commissions relating to Registrable Securities. 
 2.6 Underwriting Requirements. In connection with any
offering involving an underwriting of shares being issued by the Company, the Company shall not be required under Section 2.2 to include any of the Holders’ securities in such underwriting unless they accept the terms of the underwriting
as agreed upon between the Company and the underwriters selected by it (or by other persons entitled to select the underwriters), and then only in such quantity as will not, in the opinion of the underwriters, jeopardize the success of the offering
by the Company, but in no event will the amount of Registrable Securities of the selling Holders included in the offering be reduced below thirty percent (30%) of the total amount of securities included in such offering, unless such offering is
the Initial Registration, in which case the selling Holders may be excluded entirely if the underwriters make the determination described above and no other stockholder’s securities are included. If the underwriter determines in good faith that
marketing factors require a limitation in the number of shares to be underwritten, subject to the limitations set forth herein, the number of shares that may be included in the underwriting shall be allocated first, to the Company; second to Holders
other than Major Common Holders on a pro rata basis based on the ratio of the number of Registrable Securities then held by such Holders to the aggregate number of Registrable Securities then outstanding; third to Major Common Holders on a pro rata
basis based on the ratio of the number of Registrable Securities then held by such Major Common Holders to the aggregate number of Registrable Securities then outstanding; and fourth to any other stockholder of the Company (other than a Holder) on a
pro rata basis. For purposes of apportionment, any selling stockholder which is a Holder of Registrable Securities and which is a partnership or corporation, the partners, retired partners and stockholders of such Holder, or the estates and family
members of any such partners and retired partners and any trusts for the benefit of any of the foregoing persons shall be deemed to be a single “selling stockholder,” and any pro rata reduction with respect to such “selling
stockholder” shall be based upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in such “selling stockholder,” as defined in this sentence. 

2.7 Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any such
registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

  
 9 

 2.8 Indemnification. In the event any Registrable Securities are included in a
registration statement under this Section 2: 
 (a) The Company will indemnify and hold harmless each Holder, the officers, directors,
partners, members and Affiliates of each Holder, any underwriter (as defined in the Securities Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act,
against any losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in
respect thereto) arise out of or are based upon any of the following statements, omissions or violations (collectively a “Violation”) (i) any untrue statement or alleged untrue statement of a material fact contained in such
registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the 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, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities
Act, the Exchange Act or any state securities law; and the Company will pay to each such Holder, officer, director and Affiliate of such Holder, underwriter or controlling person, as incurred, any legal or other expenses reasonably incurred by them
in connection with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity agreement contained in this Section 2.8(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), nor shall the Company be liable in any such case for any such loss, claim, damage, liability,
or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by any such Holder, officer,
director or Affiliate of such Holder, underwriter or controlling person. 
 (b) Each selling Holder will indemnify and hold harmless the
Company, each of its directors, each of its officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Securities Act, any underwriter, any other Holder selling securities in such
registration statement and any officer, director, Affiliate or controlling person of any such underwriter or other Holder, against any losses, claims, damages, or liabilities (joint or several) to which any of the foregoing persons may become
subject, under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and
only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such Holder will pay, as incurred, any legal or
other expenses reasonably incurred by any Person intended to be indemnified pursuant to this Section 2.8(b), in connection with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity
agreement contained in this Section 2.8(b) 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 Holder, which consent shall not be
unreasonably withheld; provided, that, in no event shall any indemnity under this Section 2.8(b) exceed the net proceeds from the offering received by such Holder. 

  
 10 

 (c) Promptly after receipt by an indemnified party under this Section 2.8 of notice of the
commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.8, deliver to the indemnifying party a written notice
of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with
counsel mutually satisfactory to the parties; provided, however, that an indemnified party shall have the right to retain its own counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party
by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written
notice to the indemnifying party within a reasonable time of the commencement of any such action, if materially prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under
this Section 2.8, but the omission so to deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.8. 

(d) If the indemnification provided for in this Section 2.8 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 therein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such
indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with
the statements or omissions that resulted in such loss, liability, claim, damage or expense as well as any other relevant equitable considerations; provided, that, in no event shall any contribution by a Holder under this Section 2.8(d),
together with any amounts under Section 2.8(b), exceed the gross proceeds from the offering received by such Holder, except in the case of willful fraud by such Holder. 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. 

(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; provided, that, in no event shall any contribution or
indemnification by such selling Holder under the provisions in such underwriting agreement exceed the gross proceeds from the offering received by such selling Holder. 

  
 11 

 (f) The obligations of the Company and Holders under this Section 2.8 shall survive the
completion of any offering of Registrable Securities in a registration statement under this Section 2, and otherwise. 
 2.9 Reports
Under Securities Exchange Act of 1934. With a view to making available to the Holders the benefits of Rule 144 promulgated under the Securities Act and any other rule or regulation of the SEC that may at any time permit a Holder to sell
securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company agrees to: 
 (a) make
and keep public information available, as those terms are understood and defined in SEC Rule 144, at all times after the effective date of the first registration statement filed by the Company for the offering of its securities to the general
public; 
 (b) take such action, including the voluntary registration of its Common Stock under Section 12 of the Exchange Act, as is
necessary to enable the Holders to utilize Form S-3 for the sale of their Registrable Securities, such action to be taken as soon as practicable after the end of the fiscal year in which the first registration statement filed by the Company for the
offering of its securities to the general public is declared effective; 
 (c) file with the SEC in a timely manner all reports and other
documents required of the Company under the Securities Act and the Exchange Act; and 
 (d) furnish to any Holder, so long as the Holder
owns any Registrable Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the effective date of the first
registration statement filed by the Company), the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3
(at any time after it so qualifies), (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested in
availing any Holder of any rule or regulation of the SEC which permits the selling of any such securities without registration or pursuant to such form. 

2.10 Form S-3 Registration. If the Company receives from any Holder or Holders of Registrable Securities a written request or requests
that the Company effect a registration on Form S-3 and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company will: 

(a) promptly give written notice of the proposed registration, and any related qualification or compliance, to all other Holders; and 

(b) as soon as practicable, effect such registration and all such qualifications and compliances as may be so requested and as would permit or
facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holder or
Holders joining in such request as are specified in a written request given within fifteen (15) days after receipt of such written notice from the Company; provided, however, that 

  
 12 

 
the Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to this Section 2.10: (1) if Form S-3 is not available for such offering by the
Holders; (2) 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) at an aggregate price to the
public of less than $1,000,000; (3) if the Company shall furnish to the Holders a certificate signed by the Chief Executive Officer or President of the Company stating that in the good faith judgment of the Board, it would be seriously
detrimental to the Company and its stockholders for such Form S-3 Registration to be effected at such time, in which event the Company shall have the right to defer the filing of the Form S-3 registration statement for a period of not more than 90
days after receipt of the request of the Holder or Holders under this Section 2.10; provided, however, that the Company shall not utilize this right more than once in any twelve (12) month period; (4) in any particular jurisdiction in
which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance; or (5) if the Company has effected two (2) registrations on
Form S-3 at the request of the Holders during the prior twelve (12) month period. 
 (c) If the Holders initiating the registration
request hereunder (the “Participating Holders”) intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as part of their request made pursuant to this
Section and the Company shall include such information in the written notice referred to in Section 2.10(a). 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 Participating Holders and such Holder)
to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided in Section 2.3(e)) enter into an underwriting agreement in customary form with the
underwriter or underwriters selected for such underwriting by a majority in interest of the Participating Holders. Notwithstanding any other provision of this Section 2.10, if the underwriter advises the Participating Holders in writing that
marketing factors require a limitation of the number of shares to be underwritten, then the Participating Holders shall so advise all Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the number of shares
of Registrable Securities that may be included in the underwriting shall be allocated among all Holders thereof, including the Participating Holders, in the proportion (as nearly as practicable) that the amount of Registrable Securities of the
Company owned by each Holder bears to the number of shares of Registrable Securities then outstanding; provided, however, that the number of shares of Registrable Securities to be included in any such underwriting shall not be reduced unless all
other securities, including any shares offered by the Company, are first entirely excluded from the underwriting. 
 (d) Subject to the
foregoing, the Company shall file a registration statement covering the Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the request or requests of the Holders. All expenses incurred
in connection with a registration requested pursuant to Section 2.10, including (without limitation) all registration, filing, qualification, printer’s and accounting fees, fees and disbursements of counsel for the Company and fees and
disbursements of one counsel for the 

  
 13 

 
selling Holder or Holders, but excluding stock transfer taxes, and any underwriter discounts or commissions associated with Registrable Securities, shall be borne by the Company. Registrations
effected pursuant to this Section 2.10 shall not be counted as the demand for registration or registrations effected pursuant to Sections 2.1 or 2.2, respectively. 

2.11 Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this
Section 2 may be assigned by a Holder to any of the following Transferees or assignees of Registrable Securities: (A) any such Transferee or assignee who holds, subsequent to such Transfer, twenty-five percent (25%) of the total
number of shares of Registrable Securities (as adjusted for stock splits, bonuses, combinations, and the like) held by the transferor-Holder; or (B) any such Transferee or assignee who holds, subsequent to such Transfer, five percent
(5%) of the total number of then-outstanding shares of Preferred Stock; or (C) a partner, limited partner, former partner, member, former member, stockholder, subsidiary, wholly-owned entity, parent or other Affiliate of a Holder; or
(D) a Holder’s family member or trust for the benefit of an individual Holder or any family member; provided that (i) the Company is, within a reasonable time after such Transfer, furnished with written notice of the name and address
of such Transferee or assignee and the securities with respect to which such registration rights are being assigned and (ii) such assignment shall be effective only if immediately following such Transfer the Transferee agrees in writing to, and
is bound by the terms and conditions of, this Agreement and such Transfer of any Registrable Securities is lawful under all applicable securities laws. 

2.12 “Market Stand-Off’ Agreement. Each Holder shall not sell or otherwise transfer, make any short sale of, grant any option
for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, of any 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 the Initial Registration (or such other period as may 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 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto);
provided, however, that all officers and directors of the Company and holders of at least one percent (1%) of the Company’s voting securities are bound by and have entered into similar agreements. 

In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to the Registrable Securities of
each Investor (and the shares or securities of every other Person subject to the foregoing restriction) until the end of such period. 
 2.13
Termination of Registration Rights. No Holder shall be entitled to exercise any right provided for in Sections 2.1, 2.2 and 2.10 after the earlier of (i) five (5) years following the consummation of the Qualified IPO, or
(ii) as to a given Holder, when such Holder can sell all of such Holder’s Registrable Securities in a consecutive ninety (90) day period pursuant to a Rule 144 Open Market Transaction. 

  
 14 

 2.14 Amendment of Registration Rights. Any provision of this Section 2 may be amended
and the observance thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Holders of at least sixty percent (60%) of the Registrable
Securities then outstanding. Any amendment or waiver effected in accordance with this Section 2.14 shall be binding upon each Holder, Major Common Holder and the Company. 

2.15 Limitations on Subsequent Registration Rights. The Company shall not, without the prior written consent of the Holders of at least
sixty percent (60%) of the Registrable Securities, enter into any agreement (other than this Agreement) with any holder or prospective holder of any securities of the Company which would allow such holder or prospective holder (a) to
include securities of the Company in any registration statement upon terms which are the same or more favorable to such holder or prospective holder than the terms on which holders of Registrable Shares may include shares in such registration unless
such inclusion will not result in any reduction of the Registrable Securities included in such registration statement by the Holders or (b) to make a demand registration which could result in such registration statement being declared effective
prior to the dates set forth in Section 2.1. 
 3. Information Rights. 

3.1 Inspection. The Company shall permit each Holder holding (together with its Affiliates) an aggregate of at least 2,000,000 shares of
Preferred Stock (appropriately adjusted for stock splits, stock dividends, recapitalizations, and the like) (each, a “Major Holder” and collectively, the “Major Holders”), at such Major Holder’s expense, to
visit and inspect the Company’s properties, to examine its books of account and records and to discuss the Company’s affairs, finances and accounts with its officers, at the Company’s principal executive offices, at such reasonable
times as may be requested by such Holder; provided, however, that the Company shall not be obligated pursuant to this Section 3.1 to provide access to any information which the Board determines in reasonably and in good faith is a trade secret
or similar confidential information unless such Major Holder agrees in writing to hold such information in confidence. 
 3.2 Delivery of
Financial Statements. The Company shall deliver to each Major Holder: 
 (a) as soon as practicable, but in no event later than thirty
(30) days prior to the end of the Company’s fiscal year, an annual capital budget and operating plan for the Company for the following fiscal year; 

(b) as soon as practicable, but in no event later than one hundred eighty (180) days after the end of each fiscal year of the Company
(unless otherwise waived by the Board (including all of the Preferred Stock Directors)), an audited balance sheet dated as of the last day of the applicable fiscal year, and statements of operations, cash flow and stockholders’ equity for such
fiscal year. Such year-end financial reports to be in reasonable detail, prepared in accordance with generally accepted accounting principles (“GAAP”), and audited and certified by independent public accountants of nationally
recognized standing approved by the Company’s Board, including a majority of the Preferred Stock Directors; 

  
 15 

 (c) within thirty (30) days of the end of each fiscal quarter of the Company, an unaudited
statement of operations and cash flow, and a balance sheet for and as of the end of such quarter, in reasonable detail and prepared in accordance with GAAP, subject to year end audit adjustments and the absence of footnotes; and 

(d) as soon as practicable after the end of each month, and in any event within twenty (20) days thereafter, an unaudited statement of
operations and cash flow and balance sheet for such month, in reasonable detail and prepared in accordance with GAAP, subject to year end audit adjustments and the absence of footnotes. 

3.3 Maintenance of Books. The Company will maintain true books and records of account in which full and correct entries will be made of
all its business transactions pursuant to a system of accounting established and administered in accordance with generally accepted accounting principles consistently applied (except as noted therein), and will set aside on its books all such proper
accruals and reserves as shall be required under generally accepted accounting principles consistently applied. 
 3.4 Sarbanes-Oxley
Compliance. At any time after the eighteen (18) month anniversary of the Effective Date, upon request of a majority of the Preferred Stock Directors, the Company shall diligently, promptly and expeditiously undertake and implement such
reasonable procedures and controls related to financial reporting and measurement as would be required of a reporting Company under the Sarbanes-Oxley Act of 2002 (as amended and in effect at such time). 

3.5 Termination of Information Rights. The covenants set forth in this Section 3 shall terminate as to Major Holders and be of no
further force and effect upon the earlier to occur of (i) the consummation of the Qualified IPO or (ii) the closing date of an Acquisition. 

4. Investors’ Right of First Offer. 

4.1 Right of First Offer. The Company hereby grants to each Major Holder, on the terms set forth in this Section 4, a right of
first offer to purchase all or any part of such Major Holder’s Pro Rata Share (as defined below) of the New Securities which the Company may, from time to time, propose to sell and issue (the “Right of First Offer”). The Major
Holders may purchase said New Securities on the same terms and at the same price at which the Company proposes to sell the New Securities. For the purposes of this Section 4, a Major Holder’s “Pro Rata Share” shall be that
portion of the New Securities which equals the proportion that the number of shares of Common Stock (assuming conversion of all Shares then held by such Major Holder into Common Stock) then held by such Major Holder bears to the total number of
Shares then outstanding. 
 4.2 Notice of Proposed Issuance. In the event the Company proposes to undertake an issuance of New
Securities, it shall deliver to the Major Holders written notice (the “Notice”) of its intention, describing the type of New Securities, the price, the terms upon which the Company proposes to issue the same, the date of the
proposed issuance and a statement as to the number of days from receipt of such Notice within which the Major Holders must respond to such Notice. The Major Holders shall have twenty (20) days from the date of receipt of the

  
 16 

 
Notice to purchase any or all of the New Securities for the price and upon the terms specified in the Notice by giving written notice to the Company and stating therein the quantity of New
Securities to be purchased and forwarding payment for such New Securities to the Company if immediate payment is required by such terms, or in any event no later than the date of the proposed issuance as set forth in the Notice. If not all of the
Major Holders elect to purchase their Pro Rata Share of the New Securities, then the Company shall promptly notify in writing the Major Holders who do so elect to purchase all of their Pro Rata Share of the New Securities and shall offer such
subscribing Major Holder the right to acquire their Pro Rata Share of any unsubscribed New Securities. Each subscribing Major Holder shall have five (5) days after receipt of such notice (the “Overallotment Notice Period”) to
notify the Company in writing of its election to purchase all of its Pro Rata Share of the unsubscribed New Securities. If the Major Holders fail to exercise in full their Right of First Offer hereunder, the Company may sell any unsubscribed New
Securities for which such Major Holder’s Right of First Offer was not exercised, at a price and upon terms and conditions no more favorable then specified in the Notice, within sixty (60) days of the end of the Overallotment Notice Period.

 4.3 Transfer of Rights. The Right of First Offer granted under this Section 4 may not be assigned or transferred, except that
such right is assignable or transferable in the same circumstances as set forth for the transfer of registration rights set forth in Section 2.11 hereof; provided, however, that the provisions of this Section 4 shall be binding upon any
such assignee or Transferee. 
 4.4 Termination of Rights. The Right of First Offer granted under this Section 4 shall expire
upon the earlier to occur of the consummation of (i) a Qualified IPO or (ii) an Acquisition. 
 4.5 Limitations on Subsequent
Rights. The Company shall not, without the prior written consent of at least sixty percent (60%) of the Registrable Securities then held by the Major Holders, enter into any agreement (other than this Agreement) with any holder or
prospective holder of any securities of the Company which would grant such holder or prospective holder senior or superior first offer rights as to issuances of New Securities. 

5. Employee Matters. 
 5.1
Proprietary Rights Agreement. Except as set forth in the Schedule of Exceptions attached to the Purchase Agreement, each current employee and consultant has and each future employee and consultant of the Company will enter into a proprietary
information and inventions assignment agreement (which shall include a waiver of their moral rights in all intellectual property developed in connection with their employment with or work for the Company, as well as a non-solicitation covenant).

 5.2 Voting By Major Common Holders. In addition to the obligations set forth in Section 6, at all times that any Major Common
Holder is an employee or consultant of the Company, and at all times following the termination of employment, each Major Common Holder hereby covenants to and shall vote his or her Shares, whether at an annual meeting, special meeting or by written
consent, in a manner consistent with the majority of all other holders of Shares. 

  
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 6. Board of Directors. 

6.1 Board Representation. In accordance with Section 3(b) of Article IV of the Company’s Amended and Restated Certificate of
Incorporation (as the same may be further amended from time to time, the “Restated Certificate”), the Company hereby agrees to take such actions as are necessary, and each of the Holders and Major Common Holders agrees to vote his,
her or its Shares, including in accordance with any cumulative voting requirements, if applicable, and take such other actions as are necessary, to cause the Board to consist of nine (9) directors and to elect, whether at an annual meeting,
special meeting or by written consent, and thereafter continue in office as directors of the Company as follows: 
 (a) so long as SAP
Ventures Fund I, L.P. (“SAPV”) or its Affiliates, holds at least 1,000,000 shares of Series D-2 Stock (appropriately adjusted for stock splits, stock dividends, recapitalizations, and the like), one (1) person nominated by SAPV
shall be elected a director of the Company (the “Series D-2 Director”) to serve as the Series D-2 Director (as defined in the Restated Certificate); 

(b) so long as Adams Street 2011 Direct Fund, L.P. (the “ASP Direct Fund”) or its Affiliates, holds at least 1,000,000 shares
of Series B-2 Stock (appropriately adjusted for stock splits, stock dividends, recapitalizations, and the like), one (1) person nominated by ASP Direct Fund, or Adams Street Partners, LLC (together with the ASP Direct Fund,
“ASP”), if the ASP Direct Fund ceases to hold Shares, shall be elected a director of the Company (the “Series B-2 Director”) to serve as the Series B-2 Director (as defined in the Restated Certificate); 

(c) so long as Hummer Winblad Venture Partners V, L.P. (“HWVP”) or its Affiliates holds at least 2,000,000 Shares
(appropriately adjusted for stock splits, stock dividends, recapitalizations, and the like), one (1) person nominated by HWVP shall be elected a director of the Company (the “HWVP Series A-2 Director”) to serve as one of the
Series A-2 Directors (as defined in the Restated Certificate); 
 (d) so long as Partech U.S. Partners IV, LLC or its Affiliates
(“PIV”) holds at least 2,000,000 Shares (appropriately adjusted for stock splits, stock dividends, recapitalizations, and the like), one (1) person nominated by PIV shall be elected a director of the Company (the “PIV
Series A-2 Director” and, collectively with the HWVP Series A-2 Director, the “Series A-2 Directors”) to serve as one of the Series A-2 Directors; 

(e) one (1) person nominated by the unanimous approval of the directors then in office shall be elected a director of the Company to
serve as the Preferred Director (as defined in the Restated Certificate), and collectively with the Series A-2 Directors, the Series B-2 Director and the Series D-2 Director, the “Preferred Stock Directors”; 

(f) the then Chief Executive Officer of the Company shall be elected a director of the Company to serve as the Common Stock Director (as
defined in the Restated Certificate); and 

  
 18 

 (g) three (3) persons nominated by the unanimous approval of the Preferred Stock Directors
and the Common Stock Director shall be elected directors of the Company to serve as the Mutual Directors (as defined in the Restated Certificate). 

6.2 Board of Directors. As of the Effective Date, the Board shall consist of the following individuals: 

 

					
		 	Jai Das	  	Series D-2 Director
			
		 	David Welsh	  	Series B-2 Director
			
		 	Tim Wilson	  	PIV Series A-2 Director
			
		 	Mitchell Kertzman	  	HWVP Series A-2 Director
			
		 	Kimberly Alexy	  	Preferred Director
			
		 	Michael Burkland	  	Common Stock Director
			
		 	Jack Acosta	  	Mutual Director
			
		 	David DeWalt	  	Mutual Director

 6.3 Removals; Vacancies. The Company hereby agrees to take such actions as necessary, and each of the
Major Common Holders and Holders agrees to vote a sufficient number of his, her or its Shares, including in accordance with any cumulative voting requirements, if applicable, and take such other actions as are necessary: 

(a) for the removal of any director upon the request of the party or parties entitled to nominate such director (as provided in
Section 6.1) and for the election to the Board of a substitute director nominated by such party or parties entitled to elect such replacement director in accordance with the provisions of Section 6.1; 

(b) to ensure that any vacancy on the Board (occurring for any reason) shall be filled only in accordance with the provisions of
Section 6.1; and 
 (c) to remove any former Chief Executive Officer of the Company from the Board immediately upon his or her ceasing
to be the Chief Executive Officer of the Company for any reason. 
 6.4 Board Meetings. Unless otherwise approved by the Board
(including a majority of the Preferred Stock Directors), the Board shall hold at least one (1) Board meeting per month. 
 6.5 Board
Observer Rights. In the event that any of SAPV, ASP, HWVP, Mosaic Venture Partners or PIV no longer have the right to designate a director to the Board pursuant to the provisions of this Section 6, such Holder shall have the right to
designate a representative (“Observer”) to attend all meetings of the Board, at its own expense, in a 

  
 19 

 
non-voting observer capacity, and, in this respect, the Company shall, at the Company’s expense, give such Observer copies of all notices, minutes and other materials that it provides to its
directors; provided, however, that the Observer shall agree to hold in confidence and trust all information so provided to the same extent as if the Observer was a member of the Board, provided, further, that other than maintaining such
confidentiality, such Observer shall have no duties (fiduciary or otherwise) to the Company. Meetings to be held by telephone conference and actions to be taken by consent shall not be prohibited provided notice is given to the Observer consistent
with that provided to the directors. Notwithstanding the foregoing, the Company reserves the right to exclude such Observer from any meeting or decline to provide such Observer with access to any notices, minutes, consents or other materials
(“Materials”) provided to the directors by the Company if the Company reasonably believes, upon advice of counsel, that such exclusion is reasonably necessary to preserve the attorney-client privilege, or if in the Company’s
reasonable judgment such exclusion from the meeting or the access to the Materials is necessary either to protect the highly confidential and sensitive nature of the subject matter of the Board discussion, because of a potential or actual conflict
of interest involving such Holder or its Observer, or because of the competitive nature of such subject matter. 
 6.6 No Liability for
Election of Recommended Directors; Manner of Voting. None of the Company, any Major Common Holder, any Holder, nor any officer, director, stockholder, partner, employee or agent of any such party, makes any representation or warranty as to the
fitness or competence of the nominee of any other party hereunder to serve on the Board by virtue of such party’s execution of this Agreement or by the act of such party in voting for such nominee pursuant to this Agreement. The voting of
Shares pursuant to this Agreement may be effected in person, by proxy, by written consent, or in any other manner permitted by applicable law. 

6.7 Covenants of the Company. The Company agrees to use its best efforts to ensure that the rights granted hereunder are effective and
that the parties hereto enjoy the benefits thereof. Such actions include, without limitation, the use of the Company’s best efforts to cause the nomination and election of the directors as provided above. The Company will not, by any voluntary
action, avoid or seek to avoid the observance or performance of any of the terms to be performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all of the provisions of this Agreement and in the taking of
all such actions as may be necessary, appropriate or reasonable in order to protect the rights of the parties hereunder against impairment. 

6.8 Additional Shares. In the event that following the Effective Date any shares or other securities (other than any shares or
securities of another corporation issued to the Company’s stockholders pursuant to any Acquisition) are issued to any Holder or Major Common Holder on, or in exchange for, any of the Shares by reason of any stock dividend, stock split,
consolidation of shares, reclassification or consolidation involving the Company, such shares or securities shall be deemed to be Shares for purposes of this Agreement and subject to the provisions hereof. 

6.9 Termination. The provisions of this Section 6 shall terminate and shall be of no further force and effect on the earliest to
occur of the consummation of (i) a Qualified IPO or (ii) an Acquisition. 

  
 20 

 7. Drag-Along Rights. 

7.1 Right to Compel Sale. If Holders holding at least sixty percent (60%) of the then outstanding shares of Common Stock issued or
issuable upon conversion of the Preferred Stock (collectively the “Approving Stockholders”) and the Board, including a majority of the Preferred Stock Directors, approve an Acquisition (the “Approved Sale”), then
each and every one of the Major Common Holders and Holders, including the Approving Stockholders (the “Constituent Stockholders”), agrees, subject to the final sentence of this Section 7.1, to (i) be present, in person or
by proxy, as a holder of Shares, at all meetings for the vote of any of the above matters (and can be counted for the purposes of determining a quorum at such meetings) and vote all of their Shares in favor of the Approved Sale and in opposition of
any proposals that could reasonably be expected to delay or impair the consummation of the Approved Sale, (ii) raise no objections to the Approved Sale or the process pursuant to which the Approved Sale was arranged, (iii) refrain from
exercising any dissenters’ rights or rights of appraisal under applicable law at any time with respect to the Approved Sale, (iv) take all actions required in connection with the Approved Sale, including without limitation voting all of
his, her or its Shares in favor of any matter that could reasonably be expected to facilitate the Approved Sale; and if the Approved Sale is structured as a sale of the stock of the Company, each Constituent Stockholder agrees that it shall sell its
Shares on the terms and conditions approved by the Approving Stockholders and the Board and (v) to cooperate with and execute and deliver such other documents as may be reasonably requested in connection with the transactions contemplated by
the Approved Sale, including, without limitation, documents containing representations and warranties as to title, power and authority, such other representations, warranties and covenants as are approved by the Approving Stockholders and returning
any written consent related to the Approved Sale in a prompt manner. Notwithstanding the foregoing, a Constituent Stockholder will only be required to take the actions set forth above in connection with an Approved Sale if (A) the terms of an
Approved Sale do not provide that such Constituent Stockholder would receive less than the amount that would be distributed to such Constituent Stockholder in the event the proceeds of the sale of the Company were distributed in accordance with the
Company’s Certificate of Incorporation, as amended and in effect at such time; (B) all indemnification, escrow and other liabilities are allocated on a pro rata basis; (C) such Constituent Stockholder is not required to make
representations and warranties or covenants regarding the Company or any other stockholder of the Company, (D) such Constituent Stockholder is not required to assume liability that exceeds the proceeds received by such Constituent Stockholder
in the Approved Sale (other than for fraud or willful misrepresentation by such Constituent Stockholder) and (E) such Constituent Stockholder is not required to agree to a non-competition or non-solicitation covenant in connection with the
Approved Sale. 
 7.2 Exercise of Right. The Approving Stockholders shall exercise their rights hereunder by delivery of written
notice (the “Approved Transfer Notice”) to the Company, and the Company shall deliver the Approved Transfer Notice to the other Constituent Stockholders at least fifteen (15) days prior to the expected closing date (the
“Expected Closing Date”) of the transactions contemplated by the Approved Sale. The Approved Transfer Notice shall include the form and amount of consideration per Share to be paid to each Approving Stockholder and Constituent
Stockholder and all other material terms and conditions of the Approved Sale. If required to consummate the Approved Sale, on or before ten (10) days prior to the Expected Closing Date, each of the Constituent Stockholders shall deliver to the
transfer agent of the 

  
 21 

 
Company certificates representing the Shares held by such Constituent Stockholder, free and clear of any and all liens and encumbrances whatsoever, together with such other documents and
instruments of transfer that the third-party acquiring the Company may reasonably request. 
 7.3 Failure to Consummate the Approved
Sale. If within ninety (90) days after the Expected Closing Date, the Company and the Approving Stockholders have not completed the Approved Sale (unless such failure is due to any Constituent Stockholder’s failure to surrender for
transfer his or its certificates or take such other reasonable actions required to consummate the Approved Sale), the Company shall return to each of the Constituent Stockholders all stock certificates previously surrendered by the Constituent
Stockholders in connection with the proposed Approved Sale, and all the restrictions on transfers contained herein with respect to the Shares of the Company shall again be in effect. Such a failure to complete the Approved Sale shall not be a breach
of any Approving Stockholder’s obligations under this Agreement and shall not constitute a waiver of the rights of the Approving Stockholders to again exercise their rights under this Section 7 at any time thereafter. 

7.4 Legend on Share Certificates. Each certificate representing any Shares shall be endorsed by the Company with a legend reading
substantially as follows: 
 “THE SHARES EVIDENCED HEREBY ARE SUBJECT TO A STOCKHOLDERS’ AGREEMENT (AS AMENDED AND IN EFFECT FROM
TIME TO TIME), A COPY OF WHICH MAY BE OBTAINED UPON WRITTEN REQUEST FROM THE ISSUER, AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SAID
AGREEMENT.” 
 7.5 Termination. The provisions of this Section 7 shall terminate and shall be of no further force and effect
on the earliest to occur of the consummation of (i) a Qualified IPO or (ii) an Acquisition. 
 8. Transfers by Major Common
Holders. 
 8.1 Offering Notice. A Major Common Holder who proposes to Transfer any Shares other than in any Exempt Transfer (a
“Transferring Major Common Holder”) shall give the Company and all Major Holders (the “Right Holders”) written notice (the “Offering Notice”) of his, her or its intention to sell Shares (the
“Offered Shares”), describing the Offered Shares (including the number of shares proposed to be sold and the proposed Transferee of the shares), the price and all other material terms and conditions upon which the Transferring Major Common
Holder proposes to Transfer the Offered Shares. The Offering Notice shall be signed by (i) the Transferring Major Common Holder or his, her or its respective representative, and (ii) the proposed Transferee, and the Offering Notice shall
constitute a binding agreement for the transfer of the Shares subject only to the First Refusal Right and Co-Sale Right (each as defined herein). 

  
 22 

 8.2 The Company’s Option to Purchase. Within twenty (20) days after receipt of
the Offering Notice containing all required information, the Company may elect to purchase any or all of the Offered Shares on the terms set forth in the Offering Notice, by delivery of written notice of such election to the Transferring Major
Common Holder. Should the Company fail to purchase all of the Offered Shares in the manner provided above, the Company shall promptly give written notice (the “Right Holders Notice”) to the Right Holders, specifying the number of
Offered Shares not purchased by the Company (the “Remaining Shares”). 
 8.3 Co-Sale and Right of First Refusal
Rights. 
 (a) Co-Sale/Right of First Refusal. Subject to the Company’s purchase rights under Section 8.2 above, each
Right Holder shall have, pursuant to the terms of this Agreement, at its option, with respect to any proposed Transfer of any Shares by a Transferring Major Common Holder, either a right to sell (the “Co-Sale Right”) or a right to
purchase (a “First Refusal Right”) up to its applicable Ratable Portion (as defined below) of the Offered Shares or Remaining Shares, as the case may be, at the same price and on the same terms and conditions as contained in the
Offering Notice from the Transferring Major Common Holder. For the purposes of this Section 8, “Ratable Portion” shall mean: (i) with regard to the First Refusal Right, a number of Shares equal to the product obtained by
multiplying (A) the aggregate number of Remaining Shares by (B) a fraction, (x) the numerator of which is the number of Shares at the time owned by such Right Holder, and (y) the denominator of which is the number of Shares then
held by all Right Holders desiring to exercise the First Refusal Right, and (ii) with regard to the Co-Sale Right, a number of Shares equal to the product obtained by multiplying (A) the aggregate number of Remaining Shares by (B) a
fraction, (x) the numerator of which is the number of Shares at the time owned by such Right Holder and (y) the denominator of which is the number of Shares then held by the Transferring Major Common Holder and all of the Right Holders
that desire to exercise the Co-Sale Right. 
 (b) Exercise of Co-Sale/Right of First Refusal. Each Right Holder shall have twenty
(20) days from receipt of the Right Holders Notice to exercise either its Co-Sale Right or its First Refusal Right with respect to the Remaining Shares in connection with such proposed Transfer by giving written notice to the Company and the
Transferring Major Common Holder and stating therein (i) the number of Remaining Shares such Right Holder desires to purchase under the First Refusal Right, whether less than, equal to or greater than its Ratable Portion and (ii) if such
Right Holder elects not to exercise its First Refusal Right, the number of Offered Shares such Right Holder desires to sell under its Co-Sale Right, whether less than, equal to, or greater than its Ratable Portion. If any Right Holder fails to
exercise (x) its right to purchase all of its Ratable Portion under the First Refusal Right or (y) its rights to sell all of its Ratable Portion under the Co-Sale Right, the Right Holders requesting to purchase or sell, as the case may be,
shares in excess of their Ratable Portion (the “Overallotment Amount”) shall either purchase the number of the Remaining Shares as to which the First Refusal Rights were not exercised, or sell the number of Offered Shares as to
which Co-Sale Rights were not exercised, on a Ratable Portion basis among such Right Holders until all Overallotment Amounts have been allocated among such Right Holders. Within five (5) days thereafter, the Company shall give notice (the
“Final Notice”) to each Right Holder and the Transferring Major Common Holder as to (i) the exact number of Offered Shares that each Right Holder has elected to purchase, if the First Refusal Right is being fully exercised, or
(ii) the number of shares each Right Holder will be selling, if the Co-Sale Right is exercised. 

  
 23 

 (c) Consummation of First Refusal Rights Purchase. 

(i) Purchase by the Company or Right Holders of Any Offered Shares. Should the Company and/or the Right Holders elect to purchase some
or all of the Offered Shares, then on the later to occur of (i) the date set for consummation of the purchase under the Offering Notice, or (ii) fifteen (15) days after receipt of the Final Notice, any Right Holders participating in
the purchase, shall deliver to the Company’s outside legal counsel or other agent agreed upon by a majority of the participating Holders on the one hand and the Transferring Major Common Holder on the other (the “Escrow
Holder”), such cash, notes, or other instruments as may be required to consummate their purchase. The Transferring Major Common Holder shall contemporaneously deliver the certificates evidencing the Offered Shares, together with
blank stock transfer powers to the Escrow Holder. The Escrow Holder shall consummate the purchase in accordance with this Agreement by delivering the consideration for the Offered Shares to the Transferring Major Common Holder, causing any Remaining
Shares purchased by Right Holders to be transferred to the names of the Right Holders on the books of the Company and canceling the certificates representing that portion of the Offered Shares purchased by the Company. The purchase by a Right Holder
of any Offered Shares under the First Refusal Right is also subject in all cases to the execution and delivery by the Transferring Major Common Holder of a warranty that the Transferring Major Common Holder owns good and marketable title to such
Offered Shares, free of all liens, encumbrances and claims of others and otherwise and has received all necessary consents to effect the Transfer, reasonably satisfactory in form and substance to such Right Holder and its legal counsel. The purchase
price shall be paid, at the election of each Right Holder, either (i) in accordance with the terms contained in the Offering Notice or (ii) by wire transfer of immediately available funds, delivery of a check representing good funds,
cancellation of indebtedness, or any combination of the foregoing. 
 (ii) Failure of the Company or Right Holders to Purchase All of the
Offered Shares. Should the Company and/or the Right Holders not elect to purchase all of the Offered Shares, then, subject only to the right of Co-Sale set forth in Section 8.3(d) below, the Transferring Major Common Holder shall be
entitled to Transfer the Offered Shares that are not purchased by the Company and/or the Right Holders to the proposed Transferee at the price specified in the Offering Notice and on other terms and conditions not materially different than those set
forth in the Offering Notice; provided, however, that such Transfer must be consummated within ninety (90) calendar days after delivery of the Offering Notice to the Company and the other Right Holders, and any proposed sale of such Offered
Shares after such ninety (90) day period may be made only by again complying with the procedures set forth above; provided that the Transferee prior to the effectiveness of the Transfer agrees to be bound by the terms of this Agreement. 

(d) Right of Co-Sale Exercise. Notwithstanding anything to the contrary in Section 8.3(c)(ii), the Transferring Major Common
Holder shall not be entitled to Transfer to the proposed Transferee, pursuant to the terms of the Offering Notice, more than that number of Offered Shares which equals the difference between (A)(i) the number of shares of Offered Shares as to which
the Co-Sale Rights are exercised by the Right Holders, if any, plus (ii) the number of shares of Offered Shares as to which the First Refusal Right was exercised, and (B) the total number of Remaining Shares. Subject to the foregoing, the
proposed Transferee shall purchase all Offered Shares from the Right Holders, if any, that such Right Holders have exercised their Co-Sale Rights, and the Transferring Major Common Holder simultaneously, if applicable. 

  
 24 

 8.4 Termination of Transfer Restrictions. The first refusal and co-sale rights granted
under this Section 8 shall terminate upon the consummation of (i) a Qualified IPO, or (ii) an Acquisition, whichever is earlier to occur. 

9. Covenants. 
 9.1
Special Board Approval Rights; Preferred Stock Protective Provisions. The Company shall not do or take any of the following actions without the prior approval of a majority of the Board, which approval shall include a majority of the
Preferred Stock Directors: 
 (a) grant an exclusive license with respect to any material part of the Company’s intellectual property;

 (b) enter into any strategic alliance, partnership, joint venture or other transaction that is material to the business of the Company or
otherwise out of the ordinary course of business; provided, however that this Section 9.1(b) shall not apply to customary original equipment manufacturer agreements, distribution agreements, non-exclusive licenses and other non-material
agreements and arrangements; 
 (c) grant a security interest over any assets of the Company, except for customary factoring agreements which
may require the Company to grant a security interest in or to its account receivables; 
 (d) make any single (or series of related) capital
expenditure in excess of $250,000 unless such expenditure was disclosed in a budget previously approved by the Board; 
 (e) incur any
indebtedness, other than trade payables and other indebtedness incurred in the ordinary course; 
 (f) give any guarantees or financial
assistance to third parties; 
 (g) remove or replace the Chief Executive Officer of the Company; 

(h) increase the remuneration of officers of the Company, or pay any bonus or other compensation to any employee or consultant of the Company
in excess of $5,000, individually, unless such expenditure was disclosed in a budget previously approved by the Board; 
 (i) acquire any
real property; 
 (j) change its auditors or accountants; or 

(k) make any material change in the Company’s accounting policies. 

  
 25 

 9.2 Stock Vesting. Unless otherwise approved by the Board of Directors (including a
majority of the Preferred Stock Directors) or issued pursuant to agreements in effect as of the Effective Date, all existing and future stock options and other stock equivalents (an “Equity Award”) issued to employees, directors,
consultants and other service providers as initial grants shall not provide for acceleration of vesting and shall be subject to vesting as follows: (a) twenty-five percent (25%) of such Equity Award shall vest at the end of the first year
following the earlier of the date of issuance or such person’s services commencement date with the Company, and (b) 1/36th of the balance of such Equity Award shall vest ratably over the
subsequent thirty-six (36) months. 
 9.3 Repurchase Rights. Unless otherwise approved by the Board of Directors (including a
majority of the Preferred Stock Directors), the Company will have the right to repurchase unvested restricted stock issued to employees, directors, consultants and other service providers at the holder’s cost upon termination of employment or
the cessation of providing services to the Company (for any reason, with or without cause). 
 9.4 Transfer of Shares. Unless
otherwise approved by the Board of Directors (including a majority of the Preferred Stock Directors), the terms of any options or restricted stock issued by the Company shall prohibit the transfer of unvested shares by the holder and shall grant the
Company a right of first refusal with respect to the transfer of vested shares. 
 9.5 Major Common Holders. The Company will use its
commercially reasonable efforts to ensure that each Person who becomes a Major Common Holder after the Effective Date will be added as a party to this Agreement and will be bound by its terms. 

9.6 Termination of Covenants. The covenants of the Company contained in this Section 9 shall terminate and not be applicable upon
the consummation of (i) a Qualified IPO, or (ii) an Acquisition, whichever is earlier to occur. 
 10. Miscellaneous
Matters.  
 10.1 Waivers and Amendments. Any term of this Agreement may be amended and the observance of any term of this
Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the holders of at least sixty percent (60%) of the Registrable Securities then
outstanding; provided, however, that (i) any amendment or waiver with respect to Section 6 shall require the vote or written consent of SAPV, ASP, PIV and HWVP, (ii) so long as at least 1,000,000 shares of Series B-2 Stock are issued
and outstanding, any amendment or waiver with respect to Section 7 shall require the vote or written consent of the holders of at least fifty percent (50%) of the then outstanding shares of Common Stock issued or issuable upon conversion
of the Series B-2 Stock, (iii) so long as at least 1,000,000 shares of Series D-2 Stock are issued and outstanding, any amendment or waiver with respect to Section 7 shall require the vote or written consent of the holders of at least
fifty percent (50%) of the then outstanding shares of Common Stock issued or issuable upon conversion of the Series D-2 Stock and (iv) any amendment or waiver that affects the rights or obligations of one Holder in a materially different
manner than any other Holder shall require the vote or written consent of such Holder. Notwithstanding the foregoing, any additional investors who purchase Registrable Securities may be added as parties to this Agreement without the consent of any
of the holders of Registrable Securities. 

  
 26 

 10.2 Notices. All notices and other communications required or permitted hereunder shall
be in writing and, except as otherwise noted herein, shall be deemed effectively given upon personal delivery, delivery by nationally recognized courier or upon deposit with the United States Post Office, (by first class mail, postage prepaid)
addressed: (a) if to the Company, to the attention of the Chief Executive Officer at the address of the Company’s principal executive office (or at such other address as the Company shall have furnished to the Holders in writing),
(b) if to a Holder, at the latest address of such person shown on the Company’s records and (c) if to a Major Common Holder, at the latest address of such person shown on the Company’s records. 

10.3 Descriptive Headings. The descriptive headings herein have been inserted for convenience only and shall not be deemed to limit or
otherwise affect the construction of any provisions hereof. 
 10.4 Governing Law. This Agreement shall be governed by and interpreted
under the laws of the State of Delaware as applied to agreements among Delaware residents, made and to be performed entirely within the State of Delaware without reference to the law of conflicts. 

10.5 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an
original and all of which shall constitute the same instrument, but only one of which need be produced. 
 10.6 Expenses. If any
action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which such
party may be entitled. 
 10.7 Specific Enforcement; Grant of Proxy. It is agreed and understood that monetary damages would not
adequately compensate an injured party for the breach of this Agreement by any party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement shall be the proper subject of a temporary or
permanent injunction or restraining order. Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach. Should the provisions of this Agreement be construed to constitute the
granting of proxies, such proxies shall be deemed coupled with an interest and are irrevocable for the term of this Agreement. 
 10.8
Successors and Assigns. Except as otherwise expressly provided in this Agreement, this Agreement shall benefit and bind the successors, assigns, heirs, executors and administrators of the parties to this Agreement. 

10.9 Entire Agreement. This Agreement, together with the Purchase Agreement, constitutes the full and entire understanding and agreement
between the parties with regard to the subject matter hereof. This Agreement amends, supersedes and replaces in its entirety all other agreements between or among any of the parties with respect to the subject matter hereof and, upon the execution
hereof by the requisite parties, the Prior Stockholders’ Agreement is hereby terminated in its entirety. 

  
 27 

 10.10 Separability; Severability. Unless expressly provided in this Agreement, the rights
and obligations of each Holder under this Agreement are several and not jointly held with any other Holders. Any invalidity, illegality or limitation on the enforceability of this Agreement with respect to any Holder shall not affect the validity,
legality or enforceability of this Agreement with respect to the other Holders. If any provision of this Agreement is judicially determined to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not be affected or impaired. 
 10.11 Stock Splits. All references to numbers of shares in this Agreement shall be
appropriately adjusted to reflect any stock dividend, split, combination or other recapitalization of shares by the Company occurring after the Effective Date. 

10.12 Aggregation of Stock. All shares of the Preferred Stock held or acquired by Affiliated entities or Persons shall be aggregated
together for the purpose of determining the availability of any rights under this Agreement. 
 10.13 Amendment of Prior
Stockholders’ Agreement. The Prior Stockholders’ Agreement is hereby amended in its entirety and restated herein. All provisions of, rights granted and covenants made in the Prior Stockholders’ Agreement are hereby waived,
released and superseded in their entirety and shall have no further force or effect. 
 10.14 Irrevocable Proxy and Power of Attorney.
Each party to this Agreement hereby constitutes and appoints as the proxy of the party and hereby grants a power of attorney to the Chief Executive Officer of the Company, with full power of substitution, with respect to the election of persons as
members of the Board in accordance with Section 6 hereto and votes regarding any Approved Sale pursuant to Section 7 hereof, and hereby authorizes the Chief Executive Officer of the Company to represent and to vote, if and only if the
party (i) fails to vote or (ii) attempts to vote (whether by proxy, in person or by written consent), in a manner which is inconsistent with the terms of Section 6 or Section 7 of this Agreement, all of such party’s Shares
in favor of the election of persons as members of the Board determined pursuant to and in accordance with the terms and provisions of this Agreement or approval of any Approved Sale pursuant to and in accordance with the terms and provisions of
Sections 6 and 7, respectively, of this Agreement or to take any action necessary to effect Sections 6 and 7, respectively, of this Agreement. Each of the proxy and power of attorney granted pursuant to the immediately preceding sentence is given in
consideration of the agreements and covenants of the Company and the parties in connection with the transactions contemplated by this Agreement and, as such, each is coupled with an interest and shall be irrevocable unless and until this Agreement
terminates or expires or if earlier, until Section 6 or Section 7 terminates, as applicable. Each party hereto hereby revokes any and all previous proxies or powers of attorney with respect to the Shares and shall not hereafter, unless and
until this Agreement terminates or expires or if earlier, until Section 6 or Section 7 terminates, as applicable, purport to grant any other proxy or power of attorney with respect to any of the Shares, deposit any of the Shares into a
voting trust or enter into any agreement (other than this Agreement), arrangement or understanding with any person, directly or indirectly, to vote, grant any proxy or give instructions with respect to the voting of any of the Shares, in each case,
with respect to any of the matters set forth herein. 
 [Remainder of Page Intentionally Left Blank] 

  
 28 

 IN WITNESS WHEREOF, the parties have executed this Eighth Amended and Restated Stockholders’
Agreement on the Effective Date. 
  

	
	 Five9, Inc.

	
	 /s/ Michael Burkland

	 Name: Michael Burkland

	 Title: Chief Executive Officer

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”

	
	 SAP VENTURES FUND I, L.P.

	By: SAP Ventures (GPE) I, L.L.C., a Delaware limited liability company, its general partner
	
	 /s/ David Hartwig

	 Name: David Hartwig

Title: Managing Member

	
	By: SAP Ventures (GPE) I, L.L.C., a Delaware limited liability company, its general partner
	
	 /s/ R. Douglas Higgins

	 Name: R. Douglas Higgins

	 Title: Managing Member

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”
  

ADAMS STREET 2008 DIRECT FUND, L.P.

	 By: ASP 2008 Direct Management, LLC, Its General Partner

By: Adams Street Partners, LLC, Its Managing Member

	
	/s/ David Welsh
	Name: David Welsh
	Title: Partner
	
	“HOLDER”
	
	ADAMS STREET 2009 DIRECT FUND, L.P.
	 By: ASP 2009 Direct Management, LLC, Its General Partner

By: Adams Street Partners, LLC, Its Managing Member

	
	/s/ David Welsh
	Name: David Welsh
	Title: Partner
	
	“HOLDER”
	
	ADAMS STREET 2010 DIRECT FUND, L.P.
	 By: ASP 2010 Direct Management, LLC, Its General Partner

By: Adams Street Partners, LLC, Its Managing Member

	
	/s/ David Welsh
	Name: David Welsh
	Title: Partner
	
	“HOLDER”
	
	ADAMS STREET 2011 DIRECT FUND LP
	 By: ASP 2011 Direct Management LP, Its General Partner

By: ASP 2011 Direct Management LLC, Its General Partner
 By: Adams
Street Partners, LLC, Its Managing Member

	
	/s/ David Welsh
	Name: David Welsh
	Title: Partner

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”

	
	 Hummer Winblad Venture Partners V, L.P.

as nominee for

Hummer Winblad Venture Partners V, L.P. and

Hummer Winblad Equity Partners V, L.L.C., its General Partner

	
	 /s/ Mitchell Kertzman

	 Name: Mitchell Kertzman

	 Title: Managing Director

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”

	
	 Mosaic Venture Partners II, Limited Partnership

	     By: 1369904 Ontario, Inc., its general partner

	
	 
	 Name: David Samuel

	 Title: General Partner

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”

	
	 Partech U.S. Partners IV LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

	
	 “HOLDER”

	
	 Partech International Growth Capital I LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

	
	 “HOLDER”

	
	 Partech International Growth Capital II LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

	
	 “HOLDER”

	
	 Partech International Growth Capital III LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 
	
	 “HOLDER”

	
	 AXA Growth Capital II LP

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

	
	 “HOLDER”

	
	 45th Parallel LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

	
	 “HOLDER”

	
	 PAR SF II, LLC

	
	 /s/ Nicolas El Baze

	 Name: Nicolas El Baze

	 Title: Attorney-in-fact

  
 (Signature Page to
Eighth Amended and Restated Stockholders’ Agreement) 

 EXHIBIT A 

SCHEDULE OF MAJOR COMMON HOLDERS 
  

			
	 Name and Address
	  	Shares of Registrable Securities
(including rights thereto)

SCHEDULE OF HOLDERS 
  

					
	 Name and Address
	  	Shares of Registrable Securities
(including rights thereto)	 
	 SAP VENTURES FUND I, L.P.
  

3412 Hillview Avenue

Palo Alto, California USA 94304
	  	 	9,716,824	  
	 ADAMS STREET 2008 DIRECT FUND, L.P.

 
 2500 Sand Hill Road, Suite 100

Menlo Park, CA 94025

Fax: (650) 331-4861
	  	 	10,339,288	  
	 ADAMS STREET 2009 DIRECT FUND, L.P.

 
 2500 Sand Hill Road, Suite 100

Menlo Park, CA 94025

Fax: (650) 331-4861
	  	 	8,942,760	  
	 ADAMS STREET 2010 DIRECT FUND, L.P.

 
 2500 Sand Hill Road, Suite 100

Menlo Park, CA 94025

Fax: (650) 331-4861
	  	 	5,079,969	  
	 Adams Street 2011 Direct Fund LP

 
 2500 Sand Hill Road, Suite 100

Menlo Park, CA 94025

Fax: (650) 331-4861
	  	 	4,336,705	  
	 Hummer Winblad Venture Partners V, L.P.

 
 One Lombard Street

San Francisco,, CA 94111

Fax: (415) 979-9601
	  	 	33,649,533	  

					
	 Mosaic Venture Partners II, Limited Partnership

 
 FlatIron Building

49 Wellington St. East, 3rd Floor

Toronto, ON Canada M5E1C9
	  	 	25,229,861	  
	 Partech U.S. Partners IV LLC

 
 50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	14,053,784	* 
	 Partech International Growth Capital I LLC

 
 50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	2,713,106	  
	 Partech International Growth Capital II LLC

 
 50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	4,469,457	  
	 Partech International Growth Capital III LLC

 
 50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	2,713,110	  
	 AXA Growth Capital II LP
  

50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	1,104,650	  
	 45th Parallel LLC

 
 50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	98,369	  
	 PAR SF II, LLC
  

50 California Street, Suite 3200

San Francisco, CA 94111
	  	 	98,369	  
	 Total
	  	 	122,545,785	  

  

	*	Includes 6,342 shares of the Company’s common stock that may be distributed across affiliate funds of Partech U.S. Partners IV LLC listed in this Exhibit A. 

 Exhibit 4.2 

FIRST AMENDMENT 

TO 
 EIGHTH
AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT 
 This First Amendment to the Eighth Amended and Restated Stockholders’
Agreement (this “Amendment”) is made as of December 20, 2013 (the “Effective Date”), by and among Five9, Inc., a Delaware corporation (the “Company”), and the Holders (as defined in the Eighth
Amended and Restated Stockholders’ Agreement made as of October 28, 2013 (the Existing Agreement”)) signatory hereto. Capitalized terms used, but not otherwise defined, in this Amendment will have the meanings given to
such terms in the Existing Agreement. 
 RECITALS 

WHEREAS, the parties hereto desire to enter into this Amendment in order to amend the Existing Agreement to revise Section 6 of the
Existing Agreement to add an additional Preferred Director and reduce the number of Mutual Directors to two such directors. 
 WHEREAS,
under Section 10.1 of the Existing Agreement, the Company, the holders of at least sixty percent of the Registrable Securities, SAPV, ASP, PIV and HWVP may amend and waive provisions of the Existing Agreement. 

WHEREAS, the signatories hereto include the Company, the holders of at least sixty percent of the Registrable Securities currently
outstanding, SAPV, ASP, PIV and HWVP. 
 STATEMENT OF AGREEMENT 

NOW THEREFORE, in consideration of the mutual premises and covenants set forth herein, the parties hereto agree to amend the Existing
Agreement as follows: 
 1. Section 6.1(e) is amended and restated to read as follows: 

“(e) two (2) persons nominated by the unanimous approval of the directors then in office shall be elected directors of the Company to
serve as the Preferred Directors (as defined in the Restated Certificate), and collectively with the Series A-2 Directors, the Series B-2 Director and the Series D-2 Director, the “Preferred Stock Directors”;” 

2. Section 6.1(g) is amended and restated to read as follows: 

“(g) two (2) persons nominated by the unanimous approval of the Preferred Stock Directors and the Common Stock Director shall be
elected directors of the Company to serve as the Mutual Directors (as defined in the Restated Certificate).” 
 3. Robert Zollars is
added to Section 6.2 as a Preferred Director. 
 4. On and after the date hereof, each reference in the Existing Agreement to
“this Agreement,” “hereunder,” “hereof,” “herein” or words of like import referring to the Existing Agreement shall mean and be a reference to the Existing Agreement, as amended by

 
this Amendment. This Amendment constitutes the entire agreement among the parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings,
representations or other arrangements, whether express or implied, written or oral, of the parties in connection therewith except to the extent expressly incorporated or specifically referred to herein. In the event of a conflict between the
respective provisions of the Existing Agreement and this Amendment, the terms of this Amendment shall control. Except as specifically amended by the terms of this Amendment, the terms and conditions of the Existing Agreement are and shall remain in
full force and effect for all purposes. 
 5. This Amendment may be executed in one or more counterparts, each of which shall for all
purposes be deemed to be an original and all of which shall constitute the same instrument, but only one of which need be produced. 
 6.
This Amendment shall be governed by and interpreted under the laws of the State of Delaware as applied to agreements among Delaware residents, made and to be performed entirely with the State of Delaware without reference to the law of conflicts.

 [Signature Page Follows] 

  
 - 2 - 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date set forth above.

  

			
	FIVE9, INC.
		
	By:	 	 /s/ Michael Burkland

		 	Michael Burkland
		 	President and Chief Executive Officer

 
			
	“HOLDER”
	
	SAP VENTURES FUND I, L.P.
	
	By: SAP Ventures (GPE) I, L.L.C., a Delaware limited liability company, its general partner
	
	 /s/ Jayendra Das

	Name:	 	Jai Das
	Title:	 	Managing Member
	
	By: SAP Ventures (GPE) I, L.L.C., a Delaware limited liability company, its general partner
	
	 /s/ Nino Marakovic

	Name:	 	Nino Marakovic
	Title:	 	Managing Member

 
			
	 “HOLDER”
  

ADAMS STREET 2008 DIRECT FUND, L.P.

	By: ASP 2008 Direct Management, LLC, Its General Partner
	By: Adams Street Partners, LLC, Its Managing Member
	
	 /s/ David S. Welsh

	Name:	 	David S. Welsh
	Title:	 	Partner
	
	“HOLDER”
	
	ADAMS STREET 2009 DIRECT FUND, L.P.
	By: ASP 2009 Direct Management, LLC, Its General Partner
	By: Adams Street Partners, LLC, Its Managing Member
	
	 /s/ David S. Welsh

	Name:	 	David S. Welsh
	Title:	 	Partner
	
	“HOLDER”
	
	ADAMS STREET 2010 DIRECT FUND, L.P.
	By: ASP 2010 Direct Management, LLC, Its General Partner
	By: Adams Street Partners, LLC, Its Managing Member
	
	 /s/ David S. Welsh

	Name:	 	David S. Welsh
	Title:	 	Partner
	
	 “HOLDER”
  

ADAMS STREET 2011 DIRECT FUND LP

	By: ASP 2011 Direct Management LP, Its General Partner
	By: ASP 2011 Direct Management LLC, Its General Partner
	By: Adams Street Partners, LLC, Its Managing Member
	
	 /s/ David S. Welsh

	Name:	 	David S. Welsh
	Title:	 	Partner

 
			
	 “HOLDER”
  

Hummer Winblad Venture Partners V, L.P.

	   as nominee for

  Hummer Winblad Venture Partners V, L.P. and

  Hummer Winblad Equity Partners V, L.L.C., its   General Partner

	
	 /s/ Mitchell Kertzman

	Name:	 	Mitchell Kertzman
	Title:	 	Managing Director

 
			
	 “HOLDER”
  

Mosaic Venture Partners II, Limited Partnership

	  By: 1369904 Ontario, Inc., its general partner
	
	  

	Name:	 	David Samuel
	Title:	 	General Partner

 
			
	 “HOLDER”
  

Partech U.S. Partners IV LLC

	
	 /s/ Vincent Worms

	Name:	 	
	Title:	 	Attorney-in-fact
	
	 “HOLDER”
  

Partech International Growth Capital I LLC

	
	 /s/ Vincent Worms

	Name:	 	
	Title:	 	Attorney-in-fact
	
	 “HOLDER”
  

Partech International Growth Capital II LLC

	
	 /s/ Vincent Worms

	Name:	 	
	Title:	 	Attorney-in-fact
	
	 “HOLDER”
  

Partech International Growth Capital III LLC

	
	 /s/ Vincent Worms

	Name:	 	
	Title:	 	Attorney-in-fact

 
			
	 “HOLDER”
  

AXA Growth Capital II LP

	
	 /s/ Vincent Worms

	Name:	 	
	Title:	 	Attorney-in-fact
	
	 “HOLDER”
  

45th Parallel LLC

	
	 /s/ Vincent Worms

	Name:	 	
	Title:	 	Attorney-in-fact
	
	 “HOLDER”
  

PAR SF II, LLC

	
	 /s/ Vincent Worms

	Name:	 	
	Title:	 	Attorney-in-fact

 SECOND AMENDMENT 

TO 
 EIGHTH
AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT 
 This Second Amendment to the Eighth Amended and Restated Stockholders’
Agreement (this “Amendment”) is made as of December 30, 2013 (the “Effective Date”), by and among Five9, Inc., a Delaware corporation (the “Company”), and the Holders (as defined in the Eighth
Amended and Restated Stockholders’ Agreement made as of October 28, 2013 (as amended, the Existing Agreement”)) signatory hereto. Capitalized terms used, but not otherwise defined, in this Amendment will have the meanings given
to such terms in the Existing Agreement. 
 RECITALS 

WHEREAS, the parties hereto desire to enter into this Amendment in order to amend the Existing Agreement to (i) revise Section 6 of
the Existing Agreement to (A) add an additional Mutual Director which was incorrectly reduced to two such directors in the First Amendment to Eighth Amended and Restated Stockholders’ Agreement and (B) change the reference to the size
of the Company’s board of directors to ten (10) directors instead of nine (9) directors in order to accommodate an additional Mutual Director and (ii) revise Section 1(e)(iv) in the Existing Agreement to amend the definition
of “Excluded Securities” by increasing the number of shares of capital stock and/or stock options that can be issued pursuant to a stock grant, stock option or purchase plan or other employee stock incentive program approved by the Board
in order to account for the amendment to the Company’s Amended and Restated 2004 Equity Incentive Plan approved by the Company’s stockholders on December 18, 2013 that increased the share limit under such plan by 3,320,426 shares.

 WHEREAS, under Section 10.1 of the Existing Agreement, the Company, the holders of at least sixty percent of the Registrable
Securities, SAPV, ASP, PIV and HWVP may amend and waive provisions of the Existing Agreement. 
 WHEREAS, the signatories hereto include the
Company, the holders of at least sixty percent of the Registrable Securities currently outstanding, SAPV, ASP, PIV and HWVP. 

STATEMENT OF AGREEMENT 

NOW THEREFORE, in consideration of the mutual premises and covenants set forth herein, the parties hereto agree to amend the Existing
Agreement as follows: 
 1. Section 1(e)(iv) is amended and restated to read as follows: 

“(iv) up to 9,343,482 shares of capital stock and/or stock options (plus an additional number of shares of capital stock or stock options
that are cancelled or terminated without having been exercised and are again available for grant under the applicable plan) issued (including upon exercise of such stock options) to officers, employees, directors, consultants or advisors pursuant to
a stock grant, stock option or purchase plan or other employee stock incentive program approved by the Board, including a majority of the Preferred Stock Directors;” 

 2. The first paragraph of Section 6.1 is amended and restated to read as follows: 

“6.1 Board Representation. In accordance with Section 3(b) of Article IV of the Company’s Amended and Restated
Certificate of Incorporation (as the same may be further amended from time to time, the “Restated Certificate”), the Company hereby agrees to take such actions as are necessary, and each of the Holders and Major Common Holders agrees to
vote his, her or its Shares, including in accordance with any cumulative voting requirements, if applicable, and take such other actions as are necessary, to cause the Board to consist of ten (10) directors and to elect, whether at an annual
meeting, special meeting or by written consent, and thereafter continue in office as directors of the Company as follows:” 
 3.
Section 6.1(g) is amended and restated to read as follows: 
 “(g) three (3) persons nominated by the unanimous approval of
the Preferred Stock Directors and the Common Stock Director shall be elected directors of the Company to serve as the Mutual Directors (as defined in the Restated Certificate).” 

4. On and after the date hereof, each reference in the Existing Agreement to “this Agreement,” “hereunder,”
“hereof,” “herein” or words of like import referring to the Existing Agreement shall mean and be a reference to the Existing Agreement, as amended by this Amendment. This Amendment constitutes the entire agreement among the
parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, representations or other arrangements, whether express or implied, written or oral, of the parties in connection therewith
except to the extent expressly incorporated or specifically referred to herein. In the event of a conflict between the respective provisions of the Existing Agreement and this Amendment, the terms of this Amendment shall control. Except as
specifically amended by the terms of this Amendment, the terms and conditions of the Existing Agreement are and shall remain in full force and effect for all purposes. 

5. This Amendment may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original and all of
which shall constitute the same instrument, but only one of which need be produced. 
 6. This Amendment shall be governed by and
interpreted under the laws of the State of Delaware as applied to agreements among Delaware residents, made and to be performed entirely with the State of Delaware without reference to the law of conflicts. 

[Signature Page Follows] 

  
 - 2 - 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date set forth above.

  

			
	FIVE9, INC.
		
	By:	 	 /s/ Michael Burkland

		 	Michael Burkland
		 	President and Chief Executive Officer

 
			
	“HOLDER”
	
	SAP VENTURES FUND I, L.P.
	By: SAP Ventures (GPE) I, L.L.C., a Delaware limited liability company, its general partner
	
	 /s/ Jai Das

	Name:	 	Jai Das
	Title:	 	Managing Member
	
	By: SAP Ventures (GPE) I, L.L.C., a Delaware limited liability company, its general partner
	
	 /s/ Nino Marakovic

	Name:	 	Nino Marakovic
	Title:	 	Managing Member

 
			
	 “HOLDER”
  

ADAMS STREET 2008 DIRECT FUND, L.P.

	By: ASP 2008 Direct Management, LLC, Its General Partner
	By: Adams Street Partners, LLC, Its Managing Member
	
	 /s/ David S. Welsh

	Name:	 	David S. Welsh
	Title:	 	Partner
	
	“HOLDER”
	
	ADAMS STREET 2009 DIRECT FUND, L.P.
	By: ASP 2009 Direct Management, LLC, Its General Partner
	By: Adams Street Partners, LLC, Its Managing Member
	
	 /s/ David S. Welsh

	Name:	 	David S. Welsh
	Title:	 	Partner
	
	“HOLDER”
	
	ADAMS STREET 2010 DIRECT FUND, L.P.
	By: ASP 2010 Direct Management, LLC, Its General Partner
	By: Adams Street Partners, LLC, Its Managing Member
	
	 /s/ David S. Welsh

	Name:	 	David S. Welsh
	Title:	 	Partner
	
	“HOLDER”
	
	ADAMS STREET 2011 DIRECT FUND LP
	By: ASP 2011 Direct Management LP, Its General Partner
	By: ASP 2011 Direct Management LLC, Its General Partner
	By: Adams Street Partners, LLC, Its Managing Member
	
	 /s/ David S. Welsh

	Name:	 	David S. Welsh
	Title:	 	Partner

 
			
	 “HOLDER”
  

Hummer Winblad Venture Partners V, L.P.

	   as nominee for

  Hummer Winblad Venture Partners V, L.P. and   Hummer Winblad Equity Partners V, L.L.C., its   General Partner

	
	 /s/ Mitchell Kertzman

	Name:	 	Mitchell Kertzman
	Title:	 	Managing Director

 
			
	 “HOLDER”
  

Mosaic Venture Partners II, Limited Partnership

	By: 1369904 Ontario, Inc., its general partner
	
	 /s/ David Samuel

	Name:	 	David Samuel
	Title:	 	General Partner

 
			
	 “HOLDER”
  

Partech U.S. Partners IV LLC

	
	 /s/ Nicholas El Baze

	Name:	 	
	Title:	 	Attorney-in-fact
	
	 “HOLDER”
  

Partech International Growth Capital I LLC

	
	 /s/ Nicholas El Baze

	Name:	 	
	Title:	 	Attorney-in-fact
	
	 “HOLDER”
  

Partech International Growth Capital II LLC

	
	 /s/ Nicholas El Baze

	Name:	 	
	Title:	 	Attorney-in-fact
	
	 “HOLDER”
  

Partech International Growth Capital III LLC

	
	 /s/ Nicholas El Baze

	Name:	 	
	Title:	 	Attorney-in-fact

 
			
	 “HOLDER”
  

AXA Growth Capital II LP

	
	 /s/ Nicholas El Baze

	Name:	 	
	Title:	 	Attorney-in-fact
	
	 “HOLDER”
  

45th Parallel LLC

	
	 /s/ Nicholas El Baze

	Name:	 	
	Title:	 	Attorney-in-fact
	
	 “HOLDER”
  

PAR SF II, LLC

	
	 /s/ Nicholas El Baze

	Name:	 	
	Title:	 	Attorney-in-factEX-10.1

 Exhibit 10.1 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (“Agreement”) is made as of             
    , 20     by and between Five9, Inc., a Delaware corporation (the “Company”), and
                     (“Indemnitee”). This Agreement supersedes and replaces any and all previous Agreements between the Company and
Indemnitee covering the subject matter of this Agreement. 
 RECITALS 

WHEREAS, highly competent persons have become more reluctant to serve publicly-held corporations as directors or officers or in other
capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation; 

WHEREAS, the Board of Directors of the Company (the “Board”) has determined that, in order to attract and retain qualified
individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been
a customary and widespread practice among United States-based corporations and other business enterprises, the Company believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher
premiums and with more exclusions. At the same time, directors, officers and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other
things, matters that traditionally would have been brought only against the corporation or business enterprise itself. The Bylaws of the Company (the “Bylaws”) require indemnification of the officers and directors of the Company.
Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (the “DGCL”). The Bylaws and the DGCL expressly provide that the indemnification provisions set forth therein are not
exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification; 

WHEREAS, the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such
persons; 
 WHEREAS, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the
best interests of the Company and its stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future; 

WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on
behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; 

 WHEREAS, this Agreement is a supplement to and in furtherance of the Bylaws and any resolutions
adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and 

WHEREAS, Indemnitee does not regard the protection available under the Bylaws and insurance as adequate in the present circumstances, and may
not be willing to serve for or on behalf of the Company without adequate protection, and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf
of the Company on the condition that Indemnitee be so indemnified. 
 NOW, THEREFORE, in consideration of the premises and the covenants
contained herein, the Company and Indemnitee do hereby covenant and agree as follows: 
 Section 1. Services to the Company.
Indemnitee agrees to serve either (i) as a director or officer of the Company, or (ii) at the request of the Company, as a director, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust or other
enterprise. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law). This Agreement shall not be deemed an employment contract between the
Company (or any of its subsidiaries or any Enterprise (as hereinafter defined)) and Indemnitee. Indemnitee specifically acknowledges that Indemnitee’s employment with the Company (or any of its subsidiaries or any Enterprise), if any, is at
will, and that Indemnitee may be discharged at any time for any reason, with or without cause, except as may be otherwise provided in any written employment contract between Indemnitee and the Company (or any of its subsidiaries or any Enterprise),
other applicable formal severance policies duly adopted by the Board, or, with respect to service as a director or officer of the Company, by the Certificate of Incorporation of the Company (the “Certificate of Incorporation”), the Bylaws
and the DGCL. The foregoing notwithstanding, this Agreement shall continue in force after Indemnitee has ceased to serve as an officer or director of the Company or, at the request of the Company, as a director, officer, employee, agent or fiduciary
of another corporation, partnership, joint venture, trust or other enterprise, as provided in Section 17 hereof. 
 Section 2.
Definitions. As used in this Agreement: 
 (a) References to “agent” shall mean any person who is or was a director,
officer, or employee of the Company or a subsidiary of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity as a director, officer, employee, fiduciary or other official of
another corporation, partnership, limited liability company, joint venture, trust or other enterprise at the request of, for the convenience of, or to represent the interests of the Company or a subsidiary of the Company. 

  
 -2- 

 (b) A “Change in Control” shall be deemed to occur upon the earliest to occur after the
date of this Agreement of any of the following events: 
 i. Acquisition of Stock by Third Party. Any Person (as hereinafter defined) is or
becomes the Beneficial Owner (as hereinafter defined), directly or indirectly, of securities of the Company representing thirty percent (30%) or more of the combined voting power of the Company’s then outstanding securities unless the
change in relative Beneficial Ownership of the Company’s securities by any Person results solely from a reduction in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors; 

ii. Change in Board of Directors. During any period of two (2) consecutive years (not including any period prior to the execution of
this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in
Sections 2(b)(i), 2(b)(iii) or 2(b)(iv)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the
beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board; 

iii. Corporate Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) more than fifty-one percent (51%) of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the
board of directors or other governing body of such surviving entity; 
 iv. Liquidation. The approval by the stockholders of the Company of
a complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; and 

v. Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A
of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as hereinafter defined), whether or not the Company is then subject to such reporting requirement. 

For purposes of this Section 2(b), the following terms shall have the following meanings: 

(A) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. 

  
 -3- 

 (B) “Person” shall have the meaning as set forth in Sections 13(d) and
14(d) of the Exchange Act; provided, however, that Person shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any corporation owned, directly
or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company. 

(C) “Beneficial Owner” shall have the meaning given to such term in Rule 13d-3 under the Exchange Act; provided,
however, that Beneficial Owner shall exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the Company with another entity. 

(c) “Corporate Status” describes the status of a person who is or was a director, officer, employee or agent of the Company or of
any other corporation, limited liability company, partnership or joint venture, trust or other enterprise which such person is or was serving at the request of the Company. 

(d) “Disinterested Director” shall mean a director of the Company who is not and was not a party to the Proceeding in respect of
which indemnification is sought by Indemnitee. 
 (e) “Enterprise” shall mean the Company and any other corporation, limited
liability company, partnership, joint venture, trust or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, trustee, partner, managing member, employee, agent or fiduciary. 

(f) “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts and
other professionals, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or
deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend,
investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding. Expenses also shall include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the
premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, and (ii) for purposes of Section 15(d) only, Expenses incurred by Indemnitee in connection with the interpretation,
enforcement or defense of Indemnitee’s rights under this Agreement, by litigation or otherwise. The parties agree that for the purposes of any advancement of Expenses for which Indemnitee has made written demand to the Company in accordance
with this Agreement, all Expenses included in 

  
 -4- 

 
such demand that are certified by affidavit of Indemnitee’s counsel as being reasonable shall be presumed conclusively to be reasonable. Expenses, however, shall not include amounts paid in
settlement by Indemnitee or the amount of judgments or fines against Indemnitee. 
 (g) “Independent Counsel” shall mean a law
firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party
(other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification
hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the
Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 
 (h) The term “Proceeding” shall
include any threatened, pending or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed
proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative, legislative, or investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is or will be
involved as a party, potential party, non-party witness or otherwise by reason of Indemnitee’s Corporate Status, by reason of any action taken by Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure to act) on
Indemnitee’s part while acting pursuant to Indemnitee’s Corporate Status, in each case whether or not serving in such capacity at the time any liability or Expense is incurred for which indemnification, reimbursement, or advancement of
Expenses can be provided under this Agreement. If Indemnitee believes in good faith that a given situation may lead to or culminate in the institution of a Proceeding, such situation shall be considered a Proceeding under this paragraph. 

(i) Reference to “other enterprise” shall include employee benefit plans; references to “fines” shall include any excise
tax assessed with respect to any employee benefit plan; references to “serving at the request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services
by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner such person reasonably believed to be in the best interests of the
participants and beneficiaries of an employee benefit plan shall be deemed to have acted in manner “not opposed to the best interests of the Company” as referred to in this Agreement. 

Section 3. Indemnity in Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with the provisions of this
Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the 

  
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right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses,
judgments, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines and amounts paid in settlement) actually and reasonably
incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company and, in the case of a criminal Proceeding had no reasonable cause to believe that Indemnitee’s conduct was unlawful. The parties hereto intend that this Agreement shall provide to the fullest extent permitted by law for
indemnification in excess of that expressly permitted by statute, including, without limitation, any indemnification provided by the Certificate of Incorporation, the Bylaws, vote of its stockholders or Disinterested Directors or applicable law.

 Section 4. Indemnity in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee in accordance
with the provisions of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 4, Indemnitee
shall be indemnified to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein, if
Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. No indemnification for Expenses shall be made under this Section 4 in respect of any claim, issue or
matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that the Delaware Court (as hereinafter defined) or any court in which the Proceeding was brought shall determine
upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification for such Expenses which the Delaware Court or such other court shall deem
proper. 
 Section 5. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other
provisions of this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue
or matter therein, in whole or in part, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful,
on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf
in connection with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law. For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by
dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

  
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 Section 6. Indemnification of Appointing Stockholder. If (i) Indemnitee is or
was affiliated with one or more venture capital or other investment funds that has invested in the Company (an “Appointing Stockholder”), (ii) the Appointing Stockholder is, or is threatened to be made, a party to or a participant in
any Proceeding, and (iii) the Appointing Stockholder’s involvement in the Proceeding directly results from any claim based on the Indemnitee’s service to the Company as a director, officer or other fiduciary of the Company, the
Appointing Stockholder will be entitled to indemnification hereunder to the same extent as Indemnitee, and the terms of this Agreement as they relate to procedures for indemnification of Indemnitee and advancement of Expenses shall apply to any such
indemnification of Appointing Stockholder. To the extent this Section 6 is applicable in respect of Indemnitee, the Company and Indemnitee agree that the Appointing Stockholder is an express third party beneficiary of this Section 6. 

Section 7. Indemnification For Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the fullest extent
permitted by applicable law and to the extent that Indemnitee (or any Immediate Family Member) is, by reason of Indemnitee’s Corporate Status, a witness or otherwise asked to participate in any Proceeding to which Indemnitee is not a party,
Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee (or any Immediate Family Member) or on Indemnitee’s (or any Immediate Family Member’s) behalf in connection therewith. For the purposes of
this Section 7, “Immediate Family Member” shall mean (i) Indemnitee’s spouse or domestic partner, children (whether natural or adopted as minors), grandchildren or more remote descendants and (ii) the lineal descendants
of each of the persons described in the immediately preceding clause (i). 
 Section 8. Partial Indemnification. If Indemnitee
is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to
which Indemnitee is entitled. 
 Section 9. Additional Indemnification. 

(a) Notwithstanding any limitation in Sections 3, 4, 5 or 6, the Company shall indemnify Indemnitee to the fullest extent permitted by
applicable law if Indemnitee is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines and amounts paid in
settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection with
the Proceeding. 
 (b) For purposes of Section 9(a), the meaning of the phrase “to the fullest extent permitted by applicable
law” shall include, but not be limited to: 
 i. to the fullest extent permitted by the provision of the DGCL that authorizes or
contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the DGCL, and 

  
 -7- 

 ii. to the fullest extent authorized or permitted by any amendments to or replacements of the
DGCL adopted after the date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors. 

Section 10. Exclusions. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement
to make any indemnification payment in connection with any claim made against Indemnitee: 
 (a) for which payment has actually been made to
or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision, provided, that the foregoing shall not
affect the rights of Indemnitee or the Fund Indemnitors set forth in Section 16(f); or 
 (b) for (i) an accounting of profits
made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Exchange Act (as defined in Section 2(b) hereof) or similar provisions of state statutory law or
common law, or (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in
each case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the
Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act); or 

(c) except as provided in Section 15(d) of this Agreement, in connection with any Proceeding (or any part of any Proceeding) initiated by
Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any part of any
Proceeding) prior to its initiation or (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law. 

Section 11. Advances of Expenses. Notwithstanding any provision of this Agreement to the contrary (other than Section 15(d)),
the Company shall advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding (or any part of any Proceeding) not initiated by Indemnitee, and such advancement shall be made within thirty
(30) days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any Proceeding. Advances shall be unsecured and interest free. Advances shall be
made without regard to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement. In accordance with Section 15(d), advances
shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and 

  
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forwarding statements to the Company to support the advances claimed. The Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement, which shall
constitute an undertaking providing that the Indemnitee undertakes to repay the amounts advanced (without interest) to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company. No other form of
undertaking shall be required other than the execution of this Agreement. This Section 11 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 10. 

Section 12. Procedure for Notification and Defense of Claim. 

(a) Indemnitee shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or
advancement of Expenses hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof. The written notification to the Company shall include a description of the nature of the Proceeding and the facts
underlying the Proceeding. To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is
reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such Proceeding. The omission by Indemnitee to notify the Company hereunder will not relieve the Company from
any liability which it may have to Indemnitee hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights under this Agreement. The Secretary of the Company
shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification. 

(b) The Company will be entitled to participate in the Proceeding at its own expense. 

Section 13. Procedure Upon Application for Indemnification. 

(a) Upon written request by Indemnitee for indemnification pursuant to Section 12(a), a determination, if required by applicable law, with
respect to Indemnitee’s entitlement thereto shall be made in the specific case: (i) if a Change in Control shall have occurred, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or
(ii) if a Change in Control shall not have occurred, (A) by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (B) by a committee of Disinterested Directors designated by a majority vote of
the Disinterested Directors, even though less than a quorum of the Board, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which
shall be delivered to Indemnitee or (D) if so directed by the Board, by the stockholders of the Company; and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days
after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to

  
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such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to
Indemnitee and reasonably necessary to such determination. Any costs or Expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne
by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. The Company promptly will advise Indemnitee in writing
with respect to any determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for which indemnification has been denied. 

(b) In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 13(a)
hereof, the Independent Counsel shall be selected as provided in this Section 13(b). If a Change in Control shall not have occurred, the Independent Counsel shall be selected by the Board, and the Company shall give written notice to Indemnitee
advising Indemnitee of the identity of the Independent Counsel so selected. If a Change in Control shall have occurred, the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the
Board, in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be,
may, within ten (10) days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may
be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth with particularity the
factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent
Counsel unless and until such objection is withdrawn or the Delaware Court has determined that such objection is without merit. If, within twenty (20) days after the later of submission by Indemnitee of a written request for indemnification
pursuant to Section 12(a) hereof and the final disposition of the Proceeding, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Delaware Court for resolution of any objection
which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by such court or by such other person as such court shall designate,
and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 13(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to
Section 15(a) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). 

  
 -10- 

 (c) The Company agrees to pay the reasonable fees and expenses of the Independent Counsel and to
fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 

Section 14. Presumptions and Effect of Certain Proceedings. 

(a) In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such
determination shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 12(a) of this
Agreement, and the Company shall, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption.
Neither the failure of the Company (including by its directors or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because
Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action
or create a presumption that Indemnitee has not met the applicable standard of conduct. 
 (b) Subject to Section 15(e), if the person,
persons or entity empowered or selected under Section 13 of this Agreement to determine whether Indemnitee is entitled to indemnification shall not have made a determination within sixty (60) days after receipt by the Company of the
request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent not prohibited by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement
by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under
applicable law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making the determination with respect to entitlement to
indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further, that the foregoing provisions of this Section 14(b) shall not apply
(i) if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 13(a) of this Agreement and if (A) within fifteen (15) days after receipt by the Company of the request for such
determination the Board has resolved to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within seventy-five (75) days after such receipt and such determination is made thereat, or
(B) a special meeting of stockholders is called within fifteen (15) days after such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days after having been so called and
such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 13(a) of this Agreement. 

  
 -11- 

 (c) The termination of any Proceeding or of any claim, issue or matter therein, by judgment,
order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create
a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable
cause to believe that Indemnitee’s conduct was unlawful. 
 (d) For purposes of any determination of good faith, Indemnitee shall be
deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee by the directors or officers of the Enterprise in
the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser, financial advisor, or other
expert selected with reasonable care by or on behalf of the Enterprise. The provisions of this Section 14(d) shall not be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed to have met
the applicable standard of conduct set forth in this Agreement. 
 (e) The knowledge and/or actions, or failure to act, of any director,
officer, trustee, partner, managing member, fiduciary, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 

Section 15. Remedies of Indemnitee. 

(a) Subject to Section 15(e), in the event that (i) a determination is made pursuant to Section 13 of this Agreement that
Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been
made pursuant to Section 13(a) of this Agreement within ninety (90) days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 5, 7 or 8 or the second to
last sentence of Section 13(a) of this Agreement within ten (10) days after receipt by the Company of a written request therefor, (v) payment of indemnification pursuant to Section 3, 4, 6 or 9 of this Agreement is not made
within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification, or (vi) in the event that the Company or any other person takes or threatens to take any action to declare this Agreement void or
unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be provided to the Indemnitee hereunder, Indemnitee shall be entitled to an
adjudication by a court of Indemnitee’s entitlement to such indemnification or advancement of Expenses. Alternatively, 

  
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Indemnitee, at Indemnitee’s option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration
Association. Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 15(a);
provided, however, that the foregoing clause shall not apply in respect of a proceeding brought by Indemnitee to enforce Indemnitee’s rights under Section 5 of this Agreement. The Company shall not oppose Indemnitee’s
right to seek any such adjudication or award in arbitration. 
 (b) In the event that a determination shall have been made pursuant to
Section 13(a) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 15 shall be conducted in all respects as a de novo trial, or
arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 15 the Company shall have the burden of proving Indemnitee
is not entitled to indemnification or advancement of Expenses, as the case may be. 
 (c) If a determination shall have been made pursuant
to Section 13(a) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 15, absent (i) a
misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such
indemnification under applicable law. 
 (d) The Company shall, to the fullest extent not prohibited by law, be precluded from asserting in
any judicial proceeding or arbitration commenced pursuant to this Section 15 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that
the Company is bound by all the provisions of this Agreement. It is the intent of the Company that, to the fullest extent permitted by law, the Indemnitee shall not be required to incur legal fees or other Expenses associated with the
interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Indemnitee
hereunder. The Company shall, to the fullest extent permitted by law, indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request therefor)
advance, to the extent not prohibited by law, such Expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advancement of Expenses from the Company under this Agreement or
under any directors’ and officers’ liability insurance policies maintained by the Company if, in the case of indemnification, Indemnitee is wholly successful on the underlying claims; if Indemnitee is not wholly successful on the
underlying claims, then such indemnification shall be only to the extent Indemnitee is successful on such underlying claims or otherwise as permitted by law, whichever is greater. 

  
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 (e) Notwithstanding anything in this Agreement to the contrary, no determination as to
entitlement of Indemnitee to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding. 

Section 16. Non-exclusivity; Survival of Rights; Insurance; Subrogation. 

(a) The rights of indemnification and to advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other
rights to which Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise. No amendment, alteration or repeal of this
Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action or omission by Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal. To the
extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Bylaws, the Certificate of Incorporation and this Agreement, it is
the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and
remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent
the concurrent assertion or employment of any other right or remedy. 
 (b) To the extent that the Company maintains an insurance policy or
policies providing liability insurance for directors, officers, employees, or agents of the Enterprise, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for
any such director, officer, employee or agent under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall
give prompt notice of such claim or of the commencement of a Proceeding, as the case may be, to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action
to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies. 

(c) Except as provided in paragraph (f) below, in the event of any payment under this Agreement, the Company shall be subrogated to the
extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring
suit to enforce such rights. 
 (d) Except as provided in paragraph (f) below, the Company shall not be liable under this Agreement to
make any payment of amounts otherwise indemnifiable (or for which advancement is provided hereunder) hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or
otherwise. 

  
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 (e) Except as provided in paragraph (f) below, to the extent Indemnitee is or was serving at
the request of the Company as a director, officer, trustee, partner, managing member, fiduciary, employee or agent of any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise, the
Company’s obligation to indemnify or advance Expenses hereunder shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of Expenses from such other corporation, limited liability company, partnership,
joint venture, trust or other enterprise. 
 (f) The Company hereby acknowledges that, to the extent that Indemnitee has certain rights to
indemnification, advancement of expenses and/or insurance provided by one or more venture capital or other investment funds and/or certain of its or their affiliates (collectively, the “Fund Indemnitors”), the Company hereby agrees
(i) that it is the indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the Fund Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by
Indemnitee are secondary), (ii) that it shall be required to advance the full amount of Expenses incurred by Indemnitee and shall be liable for the full amount of all Expenses, judgments, penalties, fines and amounts paid in settlement to the
extent legally permitted and as required by the Certificate of Incorporation or Bylaws (or any agreement between the Company and Indemnitee), without regard to any rights Indemnitee may have against the Fund Indemnitors, and, (iii) that it
irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no
advancement or payment by the Fund Indemnitors on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall have a right of contribution
and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company. To the extent this paragraph (f) is applicable in respect of Indemnitee, the Company and Indemnitee agree that
the Fund Indemnitors are express third party beneficiaries of this paragraph (f). 
 Section 17. Duration of Agreement. This
Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have ceased to serve (i) as a director or officer of the Company, or (ii) at the request of the Company, as a
director, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust or other enterprise, and (b) one (1) year after the final termination of any Proceeding then pending in respect of which Indemnitee
is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding commenced by Indemnitee pursuant to Section 15 of this Agreement relating thereto. The rights to indemnification and advancement of Expenses
provided by or granted pursuant to this Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect 

  
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successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), shall continue as to an Indemnitee who has ceased to be a
director, officer, employee or agent of the Company or of any other Enterprise, and shall inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees, executors and administrators and other legal representatives. 

Section 18. Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable
for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any Section of this Agreement containing any such provision held to be
invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions
shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without
limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent
manifested thereby. 
 Section 19. Enforcement. 

(a) The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order
to induce Indemnitee to serve (i) as a director or officer of the Company, or (ii) at the request of the Company, as a director, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust or other
enterprise, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving for or on behalf of the Company in such capacity. 

(b) This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all
prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of
Incorporation, the Bylaws and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

Section 20. Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed
in writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver. 

Section 21. Notice by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company
shall not relieve the Company of any obligation which it may have to the Indemnitee under this Agreement or otherwise. 

  
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 Section 22. Notices. All notices, requests, demands and other communications under
this Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or
registered mail with postage prepaid, on the third business day after the date on which it is so mailed, (c) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been
directed or (d) sent by facsimile transmission, with receipt of oral confirmation that such transmission has been received: 
 (a) If
to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall provide to the Company. 

(b) If to the Company to 

Five9, Inc. 
 4000 Executive
Parkway, Suite 400 
 San Ramon, CA 94583 

Attn: Corporate Secretary 
 or to any other
address as may have been furnished to Indemnitee by the Company. 
 Section 23. Contribution. To the fullest extent permissible
under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for
judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in
light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the
relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 

Section 24. Applicable Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed
by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant to Section 15(a) of this Agreement, the
Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware (the “Delaware
Court”), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action

  
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or proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware,
irrevocably The Corporation Trust Company, The Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County, Delaware 19801, as its agent in the State of Delaware as such party’s agent for acceptance of legal process in
connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such action or
proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. 

Section 25. Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all
purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this
Agreement. 
 Section 26. Miscellaneous. Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun
where appropriate. The headings of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 

IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and year first above written. 

 

									
	FIVE9, INC.	 		 	INDEMNITEE
				
	By:	 	  
	 		 	  

	Name:	 		 		 	Name:	 	
	Office:	 		 		 	Address:	 	  

		 		 		 		 	  

		 		 		 		 	  

  
 -18-

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