Document:

Guarantee and Pledge Agreement

  
 EXHIBIT 10.2

  
 GUARANTEE AND PLEDGE AGREEMENT 

dated as of 

November 10, 2010, 
 among 
 CB RICHARD ELLIS SERVICES, INC., 

CB RICHARD ELLIS GROUP, INC., 
 the Subsidiaries of CB RICHARD ELLIS SERVICES, INC., 
 from time to time party
hereto 
 and 
 CREDIT SUISSE AG, 
 as Collateral Agent 

  
 TABLE OF CONTENTS

  

							
	 	  	 	  	Page	 
			
		  	ARTICLE I	  			
			
		  	Definitions	  			
			
	 SECTION 1.01.
	  	 Credit Agreement
	  	 	1	  
	 SECTION 1.02.
	  	 Other Defined Terms
	  	 	2	  
			
		  	ARTICLE II	  			
			
		  	Guarantee	  			
			
	 SECTION 2.01.
	  	 Guarantee
	  	 	4	  
	 SECTION 2.02.
	  	 Guarantee of Payment
	  	 	6	  
	 SECTION 2.03.
	  	 No Limitations, etc
	  	 	6	  
	 SECTION 2.04.
	  	 Reinstatement
	  	 	7	  
	 SECTION 2.05.
	  	 Agreement To Pay; Subrogation
	  	 	7	  
	 SECTION 2.06.
	  	 Information
	  	 	7	  
			
		  	ARTICLE III	  			
			
		  	Pledge of Securities	  			
			
	 SECTION 3.01.
	  	 Pledge
	  	 	8	  
	 SECTION 3.02.
	  	 Delivery of the Collateral
	  	 	8	  
	 SECTION 3.03.
	  	 Representations, Warranties and Covenants
	  	 	9	  
	 SECTION 3.04.
	  	 Limited Liability Company Interests and Limited Partnership Interests
	  	 	10	  
	 SECTION 3.05.
	  	 Registration in Nominee Name; Denominations
	  	 	10	  
	 SECTION 3.06.
	  	 Voting Rights; Dividends and Interest, etc
	  	 	10	  

  
 i 

  

							
	  	  	ARTICLE IV	  	 	 
			
		  	[INTENTIONALLY OMITTED]	  			
			
		  	ARTICLE V	  			
			
		  	Remedies	  			
			
	 SECTION 5.01.
	  	 Remedies Upon Default
	  	 	12	  
	 SECTION 5.02.
	  	 Application of Proceeds
	  	 	14	  
	 SECTION 5.03.
	  	 Securities Act, etc
	  	 	14	  
			
		  	ARTICLE VI	  			
			
		  	Indemnity, Subrogation and Subordination	  			
			
	 SECTION 6.01.
	  	 Indemnity and Subrogation
	  	 	15	  
	 SECTION 6.02.
	  	 Contribution and Subrogation
	  	 	15	  
	 SECTION 6.03.
	  	 Subordination
	  	 	16	  
			
		  	ARTICLE VII	  			
			
		  	Miscellaneous	  			
			
	 SECTION 7.01.
	  	 Notices
	  	 	16	  
	 SECTION 7.02.
	  	 Security Interest Absolute
	  	 	16	  
	 SECTION 7.03.
	  	 Survival of Agreement
	  	 	16	  
	 SECTION 7.04.
	  	 Binding Effect; Several Agreement
	  	 	17	  
	 SECTION 7.05.
	  	 Successors and Assigns
	  	 	17	  
	 SECTION 7.06.
	  	 Collateral Agent’s Fees and Expenses; Indemnification
	  	 	17	  
	 SECTION 7.07.
	  	 Collateral Agent Appointed Attorney-in-Fact
	  	 	18	  
	 SECTION 7.08.
	  	 Applicable Law
	  	 	19	  
	 SECTION 7.09.
	  	 Waivers; Amendment
	  	 	19	  
	 SECTION 7.10.
	  	 WAIVER OF JURY TRIAL
	  	 	19	  
	 SECTION 7.11.
	  	 Severability
	  	 	19	  
	 SECTION 7.12.
	  	 Counterparts
	  	 	20	  
	 SECTION 7.13.
	  	 Headings
	  	 	20	  
	 SECTION 7.14.
	  	 Jurisdiction; Consent to Service of Process
	  	 	20	  
	 SECTION 7.15.
	  	 Termination or Release
	  	 	21	  
	 SECTION 7.16.
	  	 Additional Subsidiaries
	  	 	21	  

  
 ii 

  
 Schedules 

 

			
	 Schedule I
	  	 Subsidiary Guarantors

	 Schedule II
	  	 Equity Interests

 Exhibits

  

			
	 Exhibit A
	  	 Form of Supplement

	 Exhibit B
	  	 Form of Perfection Certificate

  
 iii

  
 GUARANTEE AND PLEDGE AGREEMENT dated as of November 10, 2010 (this “Agreement”), among CB RICHARD ELLIS SERVICES, INC., a Delaware corporation (the “U.S.
Borrower”), CB RICHARD ELLIS GROUP, INC., a Delaware corporation (“Holdings”), the Subsidiaries of the U.S. Borrower from time to time party hereto and CREDIT SUISSE AG (“Credit Suisse”),
as collateral agent (in such capacity, the “Collateral Agent”) for the Secured Parties (as defined herein). 
 PRELIMINARY STATEMENT 
 Reference is made to the
Credit Agreement dated as of November 10, 2010 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the U.S. Borrower, CB Richard Ellis Limited, a limited company organized
under the laws of England and Wales (the “U.K. Borrower”), CB Richard Ellis Limited, a corporation organized under the laws of the province of New Brunswick (the “Canadian Borrower”), CB Richard Ellis
Pty Ltd, a company organized under the laws of Australia and registered in New South Wales (the “Australian Borrower”), CB Richard Ellis Limited, a company organized under the laws of New Zealand (the
“New Zealand Borrower”), Holdings, the lenders from time to time party thereto (the “Lenders”) and Credit Suisse AG, as administrative agent (in such capacity, the “Administrative
Agent”) and Collateral Agent. 
 The Lenders and the Issuing Bank (such term and each other
capitalized term used but not defined in this preliminary statement having the meaning given or ascribed to it in Article I) have agreed to extend credit to the Borrowers, subject to the terms and conditions set forth in the Credit Agreement. The
obligations of the Lenders and the Issuing Bank to extend credit to the Borrowers are conditioned upon, among other things, the execution and delivery of this Agreement. Holdings and the Subsidiary Guarantors are affiliates of the Borrowers, will
derive substantial benefits from the extension of credit to the Borrowers pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Lenders and the Issuing Bank to extend such credit. 

Accordingly, the parties hereto agree as follows: 

ARTICLE I 

Definitions 
 SECTION 1.01. Credit Agreement. (a) Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Credit Agreement. All
terms defined in the New York UCC (as such term is defined herein) and not defined in this Agreement have the meanings specified therein. All references to the term “instrument” shall have the meaning specified in Article 9 of the New
York UCC. 
 (b) The rules of construction specified in Section 1.02 of the Credit Agreement also apply to
this Agreement. 

  

SECTION 1.02. Other Defined Terms.     As used in
this Agreement, the following terms have the meanings specified below: 
 “Borrowers”
means, collectively, the U.S. Borrower, the Australian Borrower, the Canadian Borrower, the New Zealand Borrower and the U.K. Borrower and any other wholly owned Subsidiary of the U.S. Borrower that becomes a party to the Credit Agreement
as a Borrower pursuant to Section 9.18 of the Credit Agreement. 
 “Cash Management
Services” means treasury management services (including controlled disbursements, zero balance arrangements, cash sweeps, automated clearinghouse transactions, return items, overdrafts, temporary advances, interest and fees and
interstate depository network services or similar transactions) provided to any Loan Party. 

“Collateral” has the meaning assigned to such term in Section 3.01. 

“Domestic Obligations” means all the Obligations that are obligations of Holdings, the U.S.
Borrower or any other Domestic Subsidiary. 
 “Excluded Equity Interests” means
(a) any Equity Interest in any Immaterial Subsidiary, (b) any Equity Interest in any Investment Subsidiary other than CB Richard Ellis Investors, L.L.C. and CB Richard Ellis Investors, Inc., and (c) any Equity Interests in any person
other than a wholly-owned Subsidiary where the assignment or pledge thereof, or grant of a security interest therein, requires, pursuant to the organizational documents of such person or any related joint venture, shareholder or like agreement
binding on any shareholder, partner or member of such person, the consent of any shareholder, partner or member of such person that is not an Affiliate of Holdings. 

“Federal Securities Laws” has the meaning assigned to such term in Section 5.03.

 “Foreign Guarantor” means each Subsidiary Guarantor that is a Foreign Subsidiary.

 “Foreign Obligations” means all the Obligations that are obligations of any Foreign
Subsidiary. 
 “Grantors” means Holdings, the U.S. Borrower and the Subsidiary
Guarantors (other than Melody and any Subsidiary Guarantor that is a Foreign Guarantor or an Investment Subsidiary). 
 “Guarantors” means Holdings, the Subsidiary Guarantors and, to the extent the U.S. Borrower is not otherwise liable with respect to any Obligations, the U.S. Borrower. 

“Liabilities” has the meaning assigned to such term in Section 2.01. 

“Loan Document Obligations” means (a) the due and punctual payment of (i) the
principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, when and as due, whether
at maturity, by acceleration, upon 

  
 2 

 
one or more dates set for prepayment or otherwise, (ii) each payment required to be made by any Borrower under the Credit Agreement in respect of any Letter of Credit, when and as due,
including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral, and (iii) all other monetary obligations of any Borrower to any of the Secured Parties under the Credit Agreement and
each of the other Loan Documents, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency,
receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), (b) the due and punctual performance of all other obligations of each Borrower under or pursuant to the Credit Agreement and each of the
other Loan Documents, and (c) the due and punctual payment and performance of all the obligations of each other Loan Party under or pursuant to this Agreement and each of the other Loan Documents. 

“Luxco” means CBRE Global Holdings SARL, an indirect wholly owned Subsidiary of the U.S.
Borrower. 
 “Luxco Non-subsidiary Secured Obligor” has the meaning assigned to such
term in Section 2.01. 
 “Luxembourg Law of 2002” has the meaning assigned to such
term in Section 2.01. 
 “Maximum Amount” has the meaning assigned to such term in
Section 2.01. 
 “New York UCC” means the Uniform Commercial Code as from time to
time in effect in the State of New York. 
 “Obligations” means (a) the Loan
Document Obligations, (b) the due and punctual payment and performance of all obligations of each Loan Party under each Hedging Agreement that (i) is in effect on the Closing Date with a counterparty that is the Administrative Agent or a
Lender or an Affiliate of the Administrative Agent or a Lender as of the Closing Date or (ii) is entered into after the Closing Date with any counterparty that is the Administrative Agent or a Lender or an Affiliate of the Administrative Agent
or a Lender at the time such Hedging Agreement is entered into and (c) the Secured Cash Management Services Obligations. 
 “Perfection Certificate” means a certificate substantially in the form of Exhibit B, completed and supplemented with the schedules and attachments contemplated thereby, and duly
executed by a Responsible Officer of Holdings. 
 “Pledged Securities” means any stock
certificates or other certificated securities now or hereafter included in the Collateral, including all certificates, instruments or other documents representing or evidencing any Collateral. 

“Pledged Stock” has the meaning assigned to such term in Section 3.01. 

“Secured Cash Management Services Obligations” means the due and punctual payment of any and all
obligations of the Loan Parties in connection with Cash Management Services that are (a) owed on the Closing Date to a person that is the Administrative Agent or a 

  
 3 

 
Lender or an Affiliate of the Administrative Agent or a Lender as of the Closing Date or (b) owed to a person that is the Administrative Agent or a Lender or an Affiliate of the
Administrative Agent or a Lender at the time such obligations are incurred. 
 “Secured
Parties” means (a) the Lenders, (b) the Administrative Agent, (c) the Collateral Agent, (d) the Issuing Bank, (e) each counterparty to any Hedging Agreement with a Loan Party that either (i) is in effect on
the Closing Date if such counterparty is the Administrative Agent or a Lender or an Affiliate of the Administrative Agent or a Lender as of the Closing Date or (ii) is entered into after the Closing Date if such counterparty is the
Administrative Agent or a Lender or an Affiliate of the Administrative Agent or a Lender at the time such Hedging Agreement is entered into, (f) the beneficiaries of each indemnification obligation undertaken by any Grantor under any Loan
Document, (g) each person to whom any Secured Cash Management Services Obligations are owed and (h) the successors and assigns of each of the foregoing. 

“Significant Subsidiary” means (a) each Subsidiary (i) that has consolidated total
assets of more than $7,500,000 and (ii) of which securities or other ownership interests representing more than 80% of the equity or more than 80% of the ordinary voting power or more than 80% of the general partnership interests are, at the
time any determination is being made, owned, Controlled or held, directly or indirectly, by the U.S. Borrower and (b) each Subsidiary in which Holdings and the U.S. Borrower have invested $25,000,000 or more. 

“Subsidiary Guarantors” means (a) the Subsidiaries identified on Schedule I and
(b) each other Subsidiary that becomes a party to this Agreement as contemplated by Section 7.16. 

“Unfunded Advances/Participations” means (a) with respect to the Administrative Agent, the
aggregate amount, if any (i) made available to the Borrowers on the assumption that each Lender has made its portion of the applicable Borrowing available to the Administrative Agent as contemplated by Section 2.02(d) of the Credit
Agreement and (ii) with respect to which a corresponding amount shall not in fact have been returned to the Administrative Agent by the Borrowers or made available to the Administrative Agent by any such Lender, (b) with respect to any
Swingline Lender, the aggregate amount, if any, of participations in respect of any outstanding Swingline Loan that shall not have been funded by the Revolving Credit Lenders in accordance with Section 2.22(e) of the Credit Agreement and
(c) with respect to any Issuing Bank, the aggregate amount, if any, of participations in respect of any outstanding L/C Disbursement that shall not have been funded by the Revolving Credit Lenders in accordance with Sections 2.23(d) and
2.02(f) of the Credit Agreement. 
 ARTICLE II 
 Guarantee 
 SECTION 2.01.
Guarantee.     (a) Each Guarantor unconditionally guarantees, jointly with the other Guarantors and severally, as a primary obligor and not merely as a surety, the due and punctual payment and
performance of the Obligations; provided, however, that the 

  
 4 

 
guarantee of the Foreign Guarantors pursuant to this Section 2.01 shall be limited to the Foreign Obligations. Each of the Guarantors further agrees that the Obligations may be extended or
renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee notwithstanding any extension or renewal of any Obligation. Each of the Guarantors waives presentment to, demand of payment
from and protest to any Borrower or any other Loan Party of any of the Obligations, and also waives notice of acceptance of its guarantee and notice of protest for nonpayment. 

(b) (i) Notwithstanding any other provisions of this Article II or the Credit Agreement, the maximum liability of Luxco
under this Section 2.01 and the Credit Agreement shall be limited so (x) that the maximum amount payable by Luxco under Section 2.01(a) in respect of Obligations owed by any Borrower which is not a subsidiary of Luxco (a
“Luxco Non-subsidiary Secured Obligor”), shall at no time exceed the Maximum Amount (as defined in clause (ii) below) and (y) shall at all times be subject to clause (iii) below. 

(ii) For purposes of this Section 2.01(b), “Maximum Amount” means an amount
equal to the aggregate (without duplication) of (x) the aggregate principal amount of the outstanding intercompany loans made to Luxco or any Subsidiary which is on the Closing Date (or thereafter becomes) a subsidiary of Luxco by any Luxco
Non-subsidiary Secured Obligor which have been funded directly or indirectly with a Borrowing under the Credit Agreement plus (y) an amount equal to 80% of the greater of (A) the sum of Luxco’s capitaux propres (own
capital) and its dettes subordonnées (subordinated debt) (both as referred to in article 34 of the Luxembourg law of 19 December 2002 on the commercial register and annual accounts, as amended (the “Luxembourg Law of
2002”)) as reflected in Luxco’s then most recent annual financial statements approved by the competent organ of Luxco (as audited by its external auditor (réviseur d’entreprises), if required by law),
(B) the sum of Luxco’s capitaux propres (own capital) and its dettes subordonnées (subordinated debt) (both as referred to in article 34 of the Luxembourg Law of 2002) as reflected in its filed financial statements as
at the Closing Date, (C) the market value of the assets of Luxco as at the time that Luxco is required to make any payment pursuant to Section 2.01(a) less the Liabilities (as defined below) of Luxco as at such time and (D) the market
value of the assets of Luxco as at the Closing Date less the Liabilities (as defined below) of Luxco as at the time that Luxco is required to make any payment pursuant to Section 2.01(a). For purposes of this Section 2.01(b)(ii),
“Liabilities” means all existing liabilities (other than any liabilities owed to the direct or indirect shareholders of Luxco) incurred, from time to time, by Luxco and as reflected, from time to time, in the books of Luxco
as well as provisions for liabilities which are made in the books of Luxco from time to time in accordance with applicable prudent management accounting rules. If the parties hereto fail to reach an agreement as to the market value of the assets of
Luxco as referred to under Section 2.01(b)(ii)(y)(C) or (D) above, such market value shall be determined, at the sole cost of Luxco, by an external auditor (réviseur d’entreprises) appointed for this purpose by the
Collateral Agent. 

  
 5 

  
 (iii) The obligations and liabilities of Luxco under Section 2.01(a) shall not include any obligation which, if incurred, would constitute a breach of the provisions on financial assistance as
defined by article 49-6 of the Luxembourg Law on Commercial Companies dated 10 August 1915, as amended, to the extent such provision or an equivalent provision is applicable to Luxco. 

(iv) For the avoidance of doubt, no limitations shall apply to Luxco’s obligations and liabilities
under Section 2.01(a) in respect of any Obligations owed by Subsidiaries which are subsidiaries of Luxco. 

SECTION 2.02. Guarantee of Payment.     Each of the
Guarantors further agrees that its guarantee hereunder constitutes a guarantee of payment when due and not of collection, and waives any right to require that any resort be had by the Collateral Agent or any other Secured Party to any security held
for the payment of the Obligations or to any balance of any deposit account or credit on the books of the Collateral Agent or any other Secured Party in favor of any Borrower or any other person. 

SECTION 2.03. No Limitations, etc.    
(a) Except for termination of a Guarantor’s obligations hereunder as expressly provided in Section 7.15, the obligations of each Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any
reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of
the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor hereunder shall not be discharged or impaired or otherwise affected by (i) the failure of the Collateral Agent or any other
Secured Party to assert any claim or demand or to enforce any right or remedy under the provisions of any Loan Document or otherwise; (ii) any rescission, waiver, amendment or modification of, or any release from any of the terms or provisions
of, any Loan Document or any other agreement, including with respect to any other Guarantor under this Agreement; (iii) the release of, or any impairment of or failure to perfect any Lien on or security interest in, any security held by the
Collateral Agent or any other Secured Party for the Obligations or any of them; (iv) any default, failure or delay, wilful or otherwise, in the performance of the Obligations; (v) any law, regulation, decree or order of any jurisdiction or
any other event, to the extent such Guarantor can lawfully waive application thereof; or (vi) any other act or omission that may or might in any manner or to any extent vary the risk of any Guarantor or otherwise operate as a discharge of any
Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of all the Obligations). Each Guarantor expressly authorizes the Collateral Agent and the other Secured Parties to take and hold security for the payment and
performance of the Obligations, to exchange, waive or release any or all such security (with or without consideration), to enforce or apply such security and direct the order and manner of any sale thereof in their sole discretion or to release or
substitute any one or more other guarantors or obligors upon or in respect of the Obligations, all without affecting the obligations of any Guarantor hereunder. 

(b) To the fullest extent permitted by applicable law, each Guarantor waives any defense based on or arising out of any
defense of any Borrower or any other Loan Party or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from 

  
 6 

 
any cause of the liability of any Borrower or any other Loan Party, other than the indefeasible payment in full in cash of all the Obligations. The Collateral Agent and the other Secured Parties
may, at their election, foreclose on any security held by one or more of them by one or more judicial or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Obligations, make any
other accommodation with any Borrower or any other Loan Party or exercise any other right or remedy available to them against any Borrower or any other Loan Party, without affecting or impairing in any way the liability of any Guarantor hereunder
except to the extent the Obligations have been fully and indefeasibly paid in full in cash. To the fullest extent permitted by applicable law, each Guarantor waives any defense arising out of any such election even though such election operates,
pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such Guarantor against any Borrower or any other Loan Party, as the case may be, or any security. 

SECTION 2.04. Reinstatement.     Each of the Guarantors agrees that its
guarantee hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Collateral Agent or any other Secured Party
upon the bankruptcy or reorganization of any Borrower, any other Loan Party or otherwise. 
 SECTION 2.05.
Agreement To Pay; Subrogation.     In furtherance of the foregoing and not in limitation of any other right that the Collateral Agent or any other Secured Party has at law or in
equity against any Guarantor by virtue hereof, upon the failure of any Borrower or any other Loan Party to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each
Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Collateral Agent for distribution to the applicable Secured Parties in cash the amount of such unpaid Obligation; provided, however, that the aggregate
amount to be paid by the Foreign Guarantors pursuant to this Section 2.05 shall not exceed the amount of Foreign Obligations then unpaid by the applicable Loan Party. Upon payment by any Guarantor of any sums to the Collateral Agent as provided
above, all rights of such Guarantor against any Borrower or any other Guarantor arising as a result thereof by way of right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all respects be subject to Article VI.

 SECTION 2.06. Information.     Each Guarantor assumes all
responsibility for being and keeping itself informed of each Borrower’s and each other Loan Party’s financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the Obligations and the nature, scope
and extent of the risks that such Guarantor assumes and incurs hereunder, and agrees that neither the Collateral Agent nor any other Secured Party will have any duty to advise such Guarantor of information known to it or any of them regarding such
circumstances or risks. 

  
 7 

  
 ARTICLE III

 Pledge of Securities 

SECTION 3.01. Pledge.     As security for the payment or performance, as
the case may be, in full of the Obligations, each Grantor hereby assigns and pledges to the Collateral Agent, its successors and assigns, for the benefit of the Secured Parties, and hereby grants to the Collateral Agent, its successors and assigns,
for the benefit of the Secured Parties, a security interest in, all of such Grantor’s right, title and interest in, to and under (a) the shares of capital stock and other Equity Interests owned by such Grantor on the date hereof and listed
on Schedule II and any other Equity Interests in a Significant Subsidiary or another Subsidiary which is a Guarantor hereunder obtained in the future by such Grantor and the certificates representing all such Equity Interests (collectively referred
to herein as the “Pledged Stock”); provided that the Pledged Stock shall not include (i) insofar as they secure Domestic Obligations, more than 65% of the issued and outstanding voting Equity Interests of any
Foreign Subsidiary (it being understood and agreed that such limitation shall not apply insofar as any such Pledged Stock secures Foreign Obligations) and (ii) the Excluded Equity Interests; (b) all other property that may be delivered to
and held by the Collateral Agent pursuant to the terms of this Section 3.01; (c) subject to Section 3.06, all dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect
of, in exchange for or upon the conversion of, and all other Proceeds received in respect of, the securities referred to in clause (a) or (b) above; (d) subject to Section 3.06, all rights and privileges of such Grantor with
respect to the securities and other property referred to in clause (a), (b) or (c) above; and (e) all Proceeds of any of the foregoing (the items referred to in clauses (a) through (e) above being collectively referred
to as the “Collateral”). 
 TO HAVE AND TO HOLD the Collateral, together with all
right, title, interest, powers, privileges and preferences pertaining or incidental thereto, unto the Collateral Agent, its successors and assigns, for the ratable benefit of the Secured Parties, forever; subject, however, to the
terms, covenants and conditions hereinafter set forth. 
 SECTION 3.02. Delivery
of the Collateral.     (a) Each Grantor agrees promptly to deliver or cause to be delivered to the Collateral Agent any and all Pledged Securities that are represented in physical form;
provided, however, that a Grantor shall not be required to deliver, or cause to be delivered, to the Collateral Agent such Pledged Securities that are represented in physical form in any Subsidiary if such Grantor’s ownership of
the Equity Interests in such Subsidiary is 1% or less of the issued and outstanding Equity Interests in such Subsidiary. 
 (b) Upon delivery to the Collateral Agent, any certificate representing Pledged Securities shall be accompanied by undated stock powers duly executed in blank and such other instruments or documents as
the Collateral Agent may reasonably request. Each delivery of Pledged Securities shall be accompanied by a schedule describing the securities, which schedule shall be attached hereto as Schedule II and made a part hereof; provided that
failure to attach any such schedule hereto shall not affect the validity of such pledge of such Pledged Securities. Each schedule so delivered shall supplement any prior schedules so delivered. 

  
 8 

  

SECTION 3.03. Representations, Warranties and
Covenants.     The Grantors jointly and severally represent, warrant and covenant to and with the Collateral Agent, for the benefit of the Secured Parties, that: 

(a) Schedule II correctly sets forth the percentage of the issued and outstanding shares of each class of
the Equity Interests of the issuer thereof represented by such Pledged Stock and includes all Equity Interests required to be pledged hereunder; 

(b) the Pledged Stock has been duly and validly authorized and issued by the issuers thereof and is fully
paid and nonassessable; 
 (c) except for the security interests granted hereunder (or otherwise
permitted under the Credit Agreement), each of the Grantors (i) is and, subject to any transfers made in compliance with the Credit Agreement, will continue to be the direct owner, beneficially and of record, of the Pledged Securities indicated
on Schedule II as owned by such Grantor, (ii) holds the same free and clear of all Liens, (iii) will make no assignment, pledge, hypothecation or transfer of, or create or permit to exist any security interest in or other Lien on, the
Collateral (other than the Lien created by this Agreement and other than Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement) and (iv) subject to Section 3.06, will cause any and all Collateral, whether for
value paid by the Grantor or otherwise, to be forthwith deposited with the Collateral Agent and pledged or assigned hereunder; 
 (d) except for restrictions and limitations imposed by the Loan Documents or securities laws generally, the Collateral is and will continue to be freely transferable and assignable, and none of the
Collateral is or will be subject to any option, right of first refusal, shareholders agreement, charter or by-law provisions or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect the pledge of such
Collateral hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Collateral Agent of rights and remedies hereunder; 
 (e) each of the Grantors (i) has the power and authority to pledge the Collateral pledged by it hereunder in the manner hereby done or contemplated and (ii) will defend its title or interest
thereto or therein against any and all Liens (other than the Lien created by this Agreement and other than Liens expressly permitted pursuant to Section 6.02 of the Credit Agreement), however arising, of all persons whomsoever; 

(f) no consent or approval of any Governmental Authority, any securities exchange or any other person was
or is necessary to the validity of the pledge effected hereby (other than such as have been obtained and are in full force and effect); 
 (g) by virtue of the execution and delivery by the Grantors of this Agreement, when any Pledged Securities are delivered to the Collateral Agent in accordance with this Agreement, the Collateral Agent
will obtain a legal, valid and perfected first-priority lien upon and security interest in such Pledged Security as security for the payment and performance of the Obligations; 

  
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 (h) the pledge effected hereby is effective to vest in the Collateral Agent, for the benefit of the Secured Parties, the rights of the Collateral Agent in the Collateral as set forth herein; 

(i) the Perfection Certificate (i) has been duly prepared, completed and executed and the
information set forth therein is correct and complete in all material respects and (ii) accurately sets forth the complete legal name of each Grantor; and 

(j) each Grantor agrees, at its own expense, to execute, acknowledge, deliver and cause to be duly filed
all such further instruments and documents and take all such actions as the Collateral Agent may from time to time reasonably request to better assure, preserve, protect and perfect the security interest in the Collateral and the rights and remedies
created hereby, including the payment of any fees and taxes required in connection with the execution and delivery of this Agreement, the granting of such security interest and the filing of any financing statements or other documents in connection
herewith or therewith. 
 SECTION 3.04. Limited Liability Company Interests
and Limited Partnership Interests.     Each Grantor acknowledges and agrees that (i) each interest in any limited liability company or limited partnership controlled by such Grantor, pledged hereunder and not
represented by a certificate, shall not be for purposes of this Agreement and the other Loan Documents a “security” within the meaning of Article 8 of the New York UCC and shall not be governed by Article 8 of the New York UCC,
and (ii) such Grantor shall at no time elect to treat any such interest as a “security” within the meaning of Article 8 of the New York UCC or issue any certificate representing such interest, unless such Grantor provides prior
written notification to the Collateral Agent of such election and promptly delivers any such certificate to the Collateral Agent pursuant to the terms hereof. 
 SECTION 3.05. Registration in Nominee Name; Denominations.     The Collateral Agent, on behalf of the Secured Parties, shall have the
right (in its sole and absolute discretion when an Event of Default has occurred and is continuing) to hold the Pledged Securities in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable
Grantor, endorsed or assigned in blank or in favor of the Collateral Agent. Each Grantor will promptly give to the Collateral Agent copies of any notices or other communications received by it with respect to Pledged Securities registered in the
name of such Grantor that is the owner thereof. The Collateral Agent shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any purpose consistent with
this Agreement. 
 SECTION 3.06. Voting Rights; Dividends and Interest,
etc.     (a) Unless and until an Event of Default shall have occurred and be continuing and the Collateral Agent shall have notified the Grantors that their rights under this Section are being suspended (which
notice shall be deemed to have been given immediately upon the occurrence of an Event of Default under paragraph (g) or (h) of Article VII of the Credit Agreement): 

(i) Each Grantor shall be entitled to exercise any and all voting and/or other consensual rights and
powers inuring to an owner of any Pledged Security 

  
 10 

 
or any part thereof for any purpose consistent with the terms of this Agreement, the Credit Agreement and the other Loan Documents; provided that such rights and powers shall not be
exercised in any manner that could materially and adversely affect the rights inuring to a holder of any Pledged Security or the rights and remedies of any of the Collateral Agent or the other Secured Parties under this Agreement, the Credit
Agreement or any other Loan Document or the ability of the Secured Parties to exercise the same. 
 (ii) Each Grantor shall be entitled to receive and retain any and all dividends and other distributions paid on or distributed in respect of the Pledged Securities to the extent and only to the extent
that such dividends and other distributions are permitted by, and otherwise paid or distributed in accordance with, the terms and conditions of the Credit Agreement, the other Loan Documents and applicable laws; provided that any noncash
dividends or other distributions that would constitute Pledged Stock, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities or received in exchange for
Pledged Securities or any part thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Collateral, and,
if received by any Grantor, shall not be commingled by such Grantor with any of its other funds or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Collateral Agent and shall be forthwith
delivered to the Collateral Agent in the same form as so received (with any necessary endorsement). 
 (b) Upon
the occurrence and during the continuance of an Event of Default, after the Collateral Agent shall have notified (or shall be deemed to have notified pursuant to Section 3.06(a)) the Grantors of the suspension of their rights under paragraph
(a)(ii) of this Section 3.06, then all rights of any Grantor to dividends or other distributions that such Grantor is authorized to receive pursuant to paragraph (a)(ii) of this Section 3.06 shall cease, and all such rights shall
thereupon become vested in the Collateral Agent, which shall have the sole and exclusive right and authority to receive and retain such dividends or other distributions. All dividends or other distributions received by any Grantor contrary to the
provisions of this Section 3.06 shall be held in trust for the benefit of the Collateral Agent, shall be segregated from other property or funds of such Grantor and shall be forthwith delivered to the Collateral Agent upon demand in the same
form as so received (with any necessary endorsement). Any and all money and other property paid over to or received by the Collateral Agent pursuant to the provisions of this paragraph (b) shall be retained by the Collateral Agent in an account
to be established by the Collateral Agent upon receipt of such money or other property and shall be applied in accordance with the provisions of Section 5.02. After all Events of Default have been cured or waived, the Collateral Agent shall,
within five Business Days after all such Events of Default have been cured or waived, repay to each applicable Grantor (without interest) all dividends or other distributions that such Grantor would otherwise be permitted to retain pursuant to the
terms of paragraph (a)(ii) of this Section 3.06 and that remain in such account. 

  
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 (c)
Upon the occurrence and during the continuance of an Event of Default, after the Collateral Agent shall have notified (or shall be deemed to have notified pursuant to Section 3.06(a)) the Grantors of the suspension of their rights under
paragraph (a)(i) of this Section 3.06, then all rights of any Grantor to exercise the voting and consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 3.06 shall cease, and all such
rights shall thereupon become vested in the Collateral Agent, which shall have the sole and exclusive right and authority to exercise such voting and consensual rights and powers; provided that, unless otherwise directed by the Required
Lenders, the Collateral Agent shall have the right from time to time following and during the continuance of an Event of Default to permit the Grantors to exercise such rights. 

(d) Any notice given by the Collateral Agent to the Grantors suspending their rights under paragraph (a) of this
Section 3.06 (i) may be given by telephone if promptly confirmed in writing, (ii) may be given to one or more of the Grantors at the same or different times and (iii) may suspend the rights of the Grantors under paragraph (a)(i)
or paragraph (a)(ii) in part without suspending all such rights (as specified by the Collateral Agent in its sole and absolute discretion) and without waiving or otherwise affecting the Collateral Agent’s rights to give additional notices from
time to time suspending other rights so long as an Event of Default has occurred and is continuing. 
 ARTICLE IV

 [INTENTIONALLY OMITTED] 
 ARTICLE V 
 Remedies 

SECTION 5.01. Remedies Upon Default.     Upon the
occurrence and during the continuance of an Event of Default, each Grantor agrees to deliver each item of Collateral to the Collateral Agent on demand, and it is agreed that the Collateral Agent shall have the right with or without legal process and
with or without prior notice or demand for performance, to take possession of the Collateral and without liability for trespass to enter any premises where the Collateral may be located for the purpose of taking possession of or removing the
Collateral and, generally, to exercise any and all rights afforded to a secured party under the Uniform Commercial Code or other applicable law. Without limiting the generality of the foregoing, each Grantor agrees that the Collateral Agent shall
have the right, subject to the mandatory requirements of applicable law, to sell or otherwise dispose of all or any part of the Collateral, at public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit
or for future delivery as the Collateral Agent shall deem appropriate. The Collateral Agent shall be authorized at any such sale (if it deems it advisable to do so) to restrict the prospective bidders or purchasers to persons who will represent and
agree that they are purchasing the Collateral for their own account for investment and not with a view to the distribution or sale thereof, and upon consummation of any such sale the Collateral Agent shall have the right to

  
 12 

 
assign, transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each such purchaser at any sale of Collateral shall hold the property sold absolutely, free from any
claim or right on the part of any Grantor, and the Grantors hereby waive (to the extent permitted by law) all rights of redemption, stay and appraisal which such Grantor now has or may at any time in the future have under any rule of law or statute
now existing or hereafter enacted. 
 The Collateral Agent shall give the applicable Grantors
10 days’ written notice (which each Grantor agrees is reasonable notice within the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the Collateral Agent’s intention to make any sale
of Collateral. Such notice, in the case of a public sale, shall state the time and place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state the board or exchange at which such sale is to be
made and the day on which the Collateral, or portion thereof, will first be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within ordinary business hours and at such place or places as the
Collateral Agent may fix and state in the notice (if any) of such sale. At any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in separate parcels, as the Collateral Agent may (in its sole and
absolute discretion) determine. The Collateral Agent shall not be obligated to make any sale of any Collateral if it shall determine not to do so, regardless of the fact that notice of sale of such Collateral shall have been given. The Collateral
Agent may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and
place to which the same was so adjourned. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the Collateral so sold may be retained by the Collateral Agent until the sale price is paid by the purchaser or
purchasers thereof, but the Collateral Agent shall not incur any liability in case any such purchaser or purchasers shall fail to take up and pay for the Collateral so sold and, in case of any such failure, such Collateral may be sold again upon
like notice. At any public (or, to the extent permitted by law, private) sale made pursuant to this Agreement, any Secured Party may bid for or purchase, free (to the extent permitted by law) from any right of redemption, stay, valuation or
appraisal on the part of any Grantor (all said rights being also hereby waived and released to the extent permitted by law), the Collateral or any part thereof offered for sale and may make payment on account thereof by using any claim then due and
payable to such Secured Party from any Grantor as a credit against the purchase price, and such Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such property without further accountability to any Grantor
therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a sale thereof; the Collateral Agent shall be free to carry out such sale pursuant to such agreement and no Grantor shall be
entitled to the return of the Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Collateral Agent shall have entered into such an agreement all Events of Default shall have been remedied and the Obligations
paid in full. As an alternative to exercising the power of sale herein conferred upon it, the Collateral Agent may proceed by a suit or suits at law or in equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant
to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. Any sale pursuant to the provisions of this Section 5.01 shall be deemed to conform to the commercially
reasonable standards as provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 

  
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SECTION 5.02. Application of Proceeds.     The Collateral Agent shall
apply the proceeds of any collection, sale, foreclosure or other realization upon any Collateral, including any Collateral consisting of cash, as follows: 

FIRST, to the payment of all costs and expenses incurred by the Administrative Agent or the Collateral
Agent (in their respective capacities as such hereunder or under any other Loan Document) in connection with such collection, sale, foreclosure or realization or otherwise in connection with this Agreement, any other Loan Document or any of the
Obligations, including all court costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent or the Administrative Agent hereunder or under any other Loan Document on behalf
of any Grantor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document; 

SECOND, to the payment in full of Unfunded Advances/Participations (the amounts so applied to be
distributed between or among the Administrative Agent, any Swingline Lender and any Issuing Bank pro rata in accordance with the amounts of Unfunded Advances/Participations owed to them on the date of any such distribution); 

THIRD, to the payment in full of all other Obligations (the amounts so applied to be distributed (subject
to the first proviso to Section 3.01 and clause (B) of the first proviso to Section 4.01(a)) among the Secured Parties pro rata in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and

 FOURTH, to the Grantors, their successors or assigns, or as a court of competent jurisdiction
may otherwise direct. 
 The Collateral Agent shall have absolute discretion as to the time of application of any such proceeds,
moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the
officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the
Collateral Agent or such officer or be answerable in any way for the misapplication thereof. 
 SECTION
5.03. Securities Act, etc.     In view of the position of the Grantors in relation to the Collateral, or because of other current or future circumstances, a question may arise under
the Securities Act of 1933, as now or hereafter in effect, or any similar statute hereafter enacted analogous in purpose or effect (such Act and any such similar statute as from time to time in effect being called the “Federal Securities
Laws”) with respect to any disposition of the Collateral permitted hereunder. Each Grantor understands that compliance with the Federal Securities Laws might very strictly limit the course of conduct of the Collateral Agent if the
Collateral Agent were to attempt to dispose of all or any part of the Collateral, and might also limit the extent to which or the manner in which any subsequent transferee of any Collateral could dispose of the same. Similarly, there may be other
legal restrictions or limitations affecting the Collateral Agent in any attempt to dispose of all or part of the Collateral under 

  
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applicable “blue sky” or other state securities laws or similar laws analogous in purpose or effect. Each Grantor recognizes that in light of such restrictions and limitations the
Collateral Agent may, with respect to any sale of the Collateral, limit the purchasers to those who will agree, among other things, to acquire such Collateral for their own account, for investment, and not with a view to the distribution or resale
thereof. Each Grantor acknowledges and agrees that in light of such restrictions and limitations, the Collateral Agent, in its sole and absolute discretion (a) may proceed to make such a sale whether or not a registration statement for the
purpose of registering such Collateral or part thereof shall have been filed under the Federal Securities Laws and (b) may approach and negotiate with a limited number of potential purchasers (including a single potential purchaser) to effect
such sale. Each Grantor acknowledges and agrees that any such sale might result in prices and other terms less favorable to the seller than if such sale were a public sale without such restrictions. In the event of any such sale, the Collateral
Agent shall incur no responsibility or liability for selling all or any part of the Collateral at a price that the Collateral Agent, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the
possibility that a substantially higher price might have been realized if the sale were deferred until after registration as aforesaid or if more than a limited number of purchasers (or a single purchaser) were approached. The provisions of this
Section 5.03 will apply notwithstanding the existence of a public or private market upon which the quotations or sales prices may exceed substantially the price at which the Collateral Agent sells. 

ARTICLE VI 

Indemnity, Subrogation and Subordination 

SECTION 6.01. Indemnity and Subrogation.     In
addition to all such rights of indemnity and subrogation as the Guarantors may have under applicable law (but subject to Section 6.03), each Borrower agrees that (a) in the event a payment shall be made by any Guarantor under this
Agreement, the applicable Borrower shall indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment and
(b) in the event any assets of any Guarantor shall be sold pursuant to this Agreement or any other Security Document to satisfy in whole or in part a claim of any Secured Party, the applicable Borrower shall indemnify such Guarantor in an
amount equal to the greater of the book value or the fair market value of the assets so sold. 
 SECTION
6.02. Contribution and Subrogation.     Each Guarantor (a “Contributing Guarantor”) agrees (subject to Section 6.03) that, in the event a payment shall be
made by any other Guarantor on account of its guarantee under this Agreement or assets of any other Guarantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor (the
“Claiming Guarantor”) shall not have been fully indemnified by the applicable Borrower as provided in Section 6.01, the Contributing Guarantor shall indemnify the Claiming Guarantor in an amount equal to (i) the
amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Guarantor on the
date hereof and the denominator shall be the aggregate net worth 

  
 15 

 
of all the Guarantors on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 7.16, the date of the supplement hereto executed and delivered by such
Guarantor). Any Contributing Guarantor making any payment to a Claiming Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Guarantor under Section 6.01 to the extent of such payment. 

SECTION 6.03. Subordination.     Notwithstanding any provision of this
Agreement to the contrary, all rights of the Guarantors under Sections 6.01 and 6.02 and all other rights of indemnity, contribution or subrogation under applicable law or otherwise shall be fully subordinated to the indefeasible payment in
full in cash of the Obligations. No failure on the part of any Borrower or any Guarantor to make the payments required by Sections 6.01 and 6.02 (or any other payments required under applicable law or otherwise) shall in any respect limit the
obligations and liabilities of any Guarantor with respect to its obligations hereunder, and each Guarantor shall remain liable for the full amount of the obligations of such Guarantor hereunder. 

ARTICLE VII 
 Miscellaneous 
 SECTION 7.01.
Notices.     All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in writing and given as provided in Section 9.01 of the Credit Agreement. All communications and
notices hereunder to any Guarantor shall be given to it in care of the U.S. Borrower as provided in Section 9.01 of the Credit Agreement. 
 SECTION 7.02. Security Interest Absolute.     All rights of the Collateral Agent hereunder, the grant of a security interest in the Collateral and all obligations
of each Guarantor and Grantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement, any other Loan Document, any agreement with respect to any of the Obligations or any
other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any
departure from the Credit Agreement, any other Loan Document or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other collateral, or any release or amendment or waiver of or consent under or
departure from any guarantee, securing or guaranteeing all or any of the Obligations, or (d) any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Guarantor or Grantor in respect of the
Obligations or this Agreement. 
 SECTION 7.03. Survival of
Agreement.     All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents and in the certificates or other instruments prepared or delivered in connection with or pursuant to
this Agreement or any other Loan Document shall be considered to have been relied upon by the Secured Parties and shall survive the execution and delivery of the Loan Documents and the making of any Loans and issuance of any Letters of Credit,
regardless of any investigation made by any Secured Party or on its behalf and notwithstanding that the Collateral Agent, the Issuing Bank or any Lender may have had notice or knowledge of any Default or incorrect

  
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representation or warranty at the time any credit is extended under the Credit Agreement, and shall continue in full force and effect as long as the principal of or any accrued interest on any
Loan or any fee or any other amount payable under any Loan Document is outstanding and unpaid or the aggregate L/C Exposure does not equal zero and so long as the Commitments have not expired or terminated. 

SECTION 7.04. Binding Effect; Several Agreement.     This Agreement shall
become effective as to any Loan Party when a counterpart hereof executed on behalf of such Loan Party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the Collateral Agent, and
thereafter shall be binding upon such Loan Party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such Loan Party, the Collateral Agent and the other Secured Parties and their
respective successors and assigns, except that no Loan Party shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void) except as
expressly contemplated by this Agreement or the Credit Agreement. This Agreement shall be construed as a separate agreement with respect to each Loan Party and may be amended, modified, supplemented, waived or released with respect to any Loan Party
without the approval of any other Loan Party and without affecting the obligations of any other Loan Party hereunder. 
 SECTION 7.05. Successors and Assigns.     Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the
permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of any Guarantor, any Grantor or the Collateral Agent that are contained in this Agreement shall bind and inure to the benefit of their
respective successors and assigns. 
 SECTION 7.06. Collateral Agent’s Fees and Expenses;
Indemnification.     (a) Each Guarantor and Grantor jointly and severally agrees to pay upon demand to the Collateral Agent the amount of any and all reasonable expenses, including the reasonable fees, disbursements
and other charges of its counsel and of any experts or agents, which the Collateral Agent may incur in connection with (i) the preparation and administration of this Agreement or in connection with any amendments, modifications or waivers of
the provisions hereof, (ii) the custody or preservation of, or the sale of, collection from or other realization upon any of the Collateral, (iii) the exercise, enforcement or protection of any of the rights of the Collateral Agent
hereunder or (iv) the failure of any Guarantor or Grantor to perform or observe any of the provisions hereof. 
 (b) Without limitation of its indemnification obligations under the other Loan Documents, each Guarantor and Grantor jointly and severally agrees to indemnify the Collateral Agent and the other
Indemnitees (as defined in Section 9.05 of the Credit Agreement) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the reasonable fees, charges and disbursements,
incurred by or asserted against any Indemnitee arising out of, in any way connected with, or as a result of, the execution, delivery or performance of this Agreement or any agreement or instrument contemplated hereby or any claim, litigation,
investigation or proceeding relating to any of the foregoing or to the Collateral, whether or not any Indemnitee is a party thereto (and regardless of whether such matter is initiated by a third party or by a

  
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Borrower, any other Loan Party or any of their respective Affiliates); provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims,
damages, liabilities or related expenses (i) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or wilful misconduct of such Indemnitee or (ii) result from a
claim brought by a Borrower or any of its Subsidiaries against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if such Borrower or such Subsidiary has obtained a final and
nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. To the extent permitted by law, no Guarantor or Grantor shall assert, and each Guarantor and Grantor hereby waives any claim against any
Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement or instrument
contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of proceeds thereof. 
 (c) Any
such amounts payable as provided hereunder shall be additional Obligations secured hereby and by the other Security Documents. The provisions of this Section 7.06 shall remain operative and in full force and effect regardless of the termination
of this Agreement or any other Loan Document, the consummation of the transactions contemplated hereby, the repayment of any of the Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan
Document, or any investigation made by or on behalf of the Collateral Agent or any other Secured Party. All amounts due under this Section 7.06 shall be payable on written demand therefor. 

SECTION 7.07. Collateral Agent Appointed Attorney-in-Fact.     Each Guarantor
hereby appoints the Collateral Agent the attorney-in-fact of such Guarantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the Collateral Agent may deem necessary or advisable
to accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest. Without limiting the generality of the foregoing, the Collateral Agent shall have the right, upon the occurrence and during the continuance of an Event
of Default after notice to the relevant Guarantor, with full power of substitution either in the Collateral Agent’s name or in the name of such Guarantor (a) to receive, endorse, assign and/or deliver any and all notes, acceptances,
checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof; (b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any of the Collateral;
(c) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise realize on all or any of the Collateral or to enforce any rights in respect of any
Collateral; (d) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral; and (e) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise
deal with all or any of the Collateral, and to do all other acts and things necessary to carry out the purposes of this Agreement, as fully and completely as though the Collateral Agent were the absolute owner of the Collateral for all purposes;
provided, however, that nothing herein contained shall be construed as requiring or obligating the Collateral Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Collateral
Agent, or to present or file any claim or notice, or to take any action with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any 

  
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property covered thereby. The Collateral Agent and the other Secured Parties shall be accountable only for amounts actually received as a result of the exercise of the powers granted to them
herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Guarantor for any act or failure to act hereunder, except for their own gross negligence or wilful misconduct. 

SECTION 7.08. Applicable Law.     THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 7.09. Waivers;
Amendment.     (a) No failure or delay by the Collateral Agent, the Administrative Agent, the Issuing Bank or any Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a
waiver hereof or thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any
other right or power. The rights and remedies of the Collateral Agent, the Administrative Agent, the Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they
would otherwise have. No waiver of any provision of any Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 7.09, and
then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on any Loan Party in any case shall entitle any Loan Party to any other or further notice or demand in similar or
other circumstances. 
 (b) Neither this Agreement nor any provision hereof may be waived, amended or modified
except pursuant to an agreement or agreements in writing entered into by the Collateral Agent and the Loan Party or Loan Parties with respect to which such waiver, amendment or modification is to apply, subject to any consent required in accordance
with Section 9.08 of the Credit Agreement. 
 SECTION 7.10. WAIVER OF JURY
TRIAL.     EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 SECTION 7.11.
Severability.     In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the
remaining provisions contained herein shall not in any 

  
 19 

 
way be affected or impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such
provision in any other jurisdiction). The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the
invalid, illegal or unenforceable provisions. 
 SECTION 7.12.
Counterparts.     This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall
constitute a single contract, and shall become effective as provided in Section 7.04. Delivery of an executed signature page to this Agreement by facsimile transmission or other customary means of electronic transmission (e.g., “pdf”)
shall be as effective as delivery of a manually signed counterpart of this Agreement. 
 SECTION 7.13.
Headings.     Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into
consideration in interpreting, this Agreement. 
 SECTION 7.14. Jurisdiction; Consent to Service
of Process.     (a) Each of Loan Parties hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of any New York State court or Federal court of the United States of
America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or the other Loan Documents, or for recognition or enforcement of any judgment, and each of the
parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the
parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan
Document shall affect any right that the Collateral Agent, the Administrative Agent, the Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or the other Loan Documents against the Borrowers,
Holdings or their respective properties in the courts of any jurisdiction. 
 (b) Each of the Loan Parties
hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this
Agreement or any other Loan Document in any court referred to in paragraph (a) of this Section 7.14. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court. 
 (c) Each party to this Agreement irrevocably
consents to service of process in the manner provided for notices in Section 7.01. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law.

  
 20 

  

SECTION 7.15. Termination or Release.     (a) This Agreement, the
Guarantees, the security interest in the Collateral and all other security interests granted hereby shall terminate when all the Loan Document Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under
the Credit Agreement, the aggregate L/C Exposure has been reduced to zero and the Issuing Bank has no further obligations to issue Letters of Credit under the Credit Agreement and no payment of any amounts outstanding and due under any Hedging
Agreement is in default. 
 (b) A Subsidiary Guarantor shall automatically be released from its obligations
hereunder and the security interest in the Collateral of such Subsidiary Guarantor shall be automatically released, in the event that all the Equity Interests of such Subsidiary Guarantor shall be sold, transferred or otherwise disposed of to a
person that is not Holdings, the U.S. Borrower or an Affiliate of any of the foregoing in accordance with the terms of the Credit Agreement; provided that the Required Lenders shall have consented to such sale, transfer or other disposition
(to the extent required by the Credit Agreement) and the terms of such consent did not provide otherwise. 

(c) Upon any sale or other transfer by any Grantor of any Collateral that is permitted under the Credit Agreement to any
person that is not Holdings, the U.S. Borrower or an Affiliate of any of the foregoing, or, upon the effectiveness of any written consent to the release of the security interest granted hereby in any Collateral pursuant to Section 9.08 of the
Credit Agreement, the security interest in such Collateral shall be automatically released without any action on the part of the Collateral Agent. 
 (d) A Subsidiary Guarantor shall automatically be released from its Guarantee hereunder to the extent required by Section 5.09(a) of the Credit Agreement. 

(e) In connection with any termination or release pursuant to the preceding paragraphs of this Section, the
Collateral Agent shall execute and deliver to any Grantor, at such Grantor’s expense, all documents that such Grantor shall reasonably request to evidence such termination or release. Any execution and delivery of documents pursuant to this
Section 7.15 shall be without recourse to or representation or warranty by the Collateral Agent or any Secured Party. 
 SECTION 7.16. Additional Subsidiaries.     Pursuant to Section 5.09(a) of the Credit Agreement, certain Subsidiaries not originally party hereto may be
required from time to time to enter into this Agreement. Upon the execution and delivery by the Collateral Agent and a Subsidiary of a supplement in the form of Exhibit A hereto, such Subsidiary shall become a Subsidiary Guarantor and, to the extent
applicable, a Grantor hereunder with the same force and effect as if originally named as a Subsidiary Guarantor and a Grantor herein. The execution and delivery of any such instrument shall not require the consent of any other Loan Party hereunder.
The rights and obligations of each Loan Party hereunder shall remain in full force and effect notwithstanding the addition of any new Loan Party as a party to this Agreement. 
 [Remainder of this page intentionally left blank] 

  
 21 

  
 IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first above written. 
  

			
	CB RICHARD ELLIS SERVICES, INC.,
		
	       by 
	 	 /s/ Debera Fan

		 	        Name: Debera Fan

		 	        Title: Senior Vice President and

       Treasurer

	  
 CB RICHARD ELLIS GROUP, INC.,

		
	       by 
	 	 /s/ Debera Fan

		 	        Name: Debera Fan

		 	        Title: Senior Vice President and

       Treasurer

	  
 EACH OF THE SUBSIDIARIES LISTED ON SCHEDULE I
HERETO,

		
	       by 
	 	 /s/ Debera Fan

		 	        Name: Debera Fan

		 	        Title: Senior Vice President and

       Treasurer

 
  
 [Signature Page to the CBRE Guarantee and Pledge Agreement] 

  
 
			
	 CB RICHARD ELLIS LIMITED, a limited
 Company organized under the laws of
 England and Wales,

		
	       by 
	 	 /s/ Philip Emburey

		 	        Name: Philip Emburey

		 	        Title: Director

	
		
	       by 
	 	 /s/ Martin Lewis

		 	        Name: Martin Lewis

		 	        Title: Director

	  
 CB RICHARD ELLIS LIMITED, a

corporation organized under the laws of the province of New Brunswick,

		
	       by 
	 	 /s/ Jeffrey D. Cook

		 	        Name: Jeffrey D. Cook

		 	        Title: Vice President

 
  
  

 
 [Signature Page to the CBRE Guarantee and Pledge Agreement]

  
 IN
WITNESS WHEREOF, the Australian Borrower and the New Zealand Borrower have duly executed this Agreement, as of the day and year first above written, solely with respect to Article VI of this Agreement. 

 

			
	 CB RICHARD ELLIS PTY LTD, a
 company organized under the laws of
 Australia,

		
	       by 
	 	 /s/ John Llewellyn Bell

		 	        Name: John Llewellyn Bell

		 	        Title: Director

	
		
	       by 
	 	 /s/ Thomas Jackson Southern

		 	        Name: Thomas Jackson Southern

		 	        Title: Director

	  
 CB RICHARD ELLIS LIMITED, a

company organized under the laws of New
 Zealand,
  

		
	       by 
	 	 /s/ John Llewellyn Bell

		 	        Name: John Llewellyn Bell

		 	        Title: Director

		
	  

      by 
	 	  
 /s/ Brent
David McGregor

		 	        Name: Brent David McGregor

		 	        Title: Director

 
  
 [Signature Page to the CBRE Guarantee and Pledge Agreement] 

  
 
			
	 CREDIT SUISSE AG, CAYMAN
 ISLANDS BRANCH, as Collateral Agent

		
	       by 
	 	 /s/ Bill O’Daly

		 	        Name: Bill O’Daly

		 	        Title: Director

	
		
	       by 
	 	 /s/ Christopher Reo Day

		 	        Name: Christopher Reo Day

		 	        Title: Associate

 
  
 [Signature Page to the CBRE Guarantee and Pledge Agreement] 

  
  

			
	 CB/TCC GLOBAL HOLDINGS LIMITED,

		
	       by 
	 	 /s/ Philip Emburey

		 	        Name: Philip Emburey

		 	        Title: Director

	
		
	       by 
	 	 /s/ Marcus Smith

		 	        Name: Marcus Smith

		 	        Title: Director

	  
 CBRE GLOBAL HOLDINGS,
S.A.R.L.,

		
	       by 
	 	 /s/ Laurence H. Midler

		 	        Name: Laurence H. Midler

		 	        Title: Type A manager

	  
 RELAM AMSTERDAM HOLDINGS
B.V.,

		
	       by 
	 	 /s/ R.H.L de Groot   /s/ S.R.

       Lombert

		 	        Name: TMF Management B.V.

		 	        Title: Managing Director

	  
 TC HOUSTON, INC.,

		
	       by 
	 	 /s/ Robert E. Sulentic

		 	        Name: Robert E. Sulentic

		 	        Title: Executive Vice President

	  
 TCCT REAL ESTATE,
INC.,

		
	       by 
	 	 /s/ Robert E. Sulentic

		 	        Name: Robert E. Sulentic

		 	        Title: Executive Vice President

	  
 TDCFW, INC.,

		
	       by 
	 	 /s/ Robert E. Sulentic

		 	        Name: Robert E. Sulentic

		 	        Title: Executive Vice President

[Signature Page to the CBRE Guarantee and Pledge Agreement] 

  
  

					
	 TRAMMELL CROW DEVELOPMENT &
 INVESTMENT, INC.,

			
		 	 by  
	 	 /s/ Robert E. Sulentic

		 		 	 Name: Robert E. Sulentic

		 		 	 Title: President and Chief Executive Officer

  

 
  
 [Signature Page to the CBRE Guarantee and Pledge Agreement] 

  
 Schedule I to

 Guarantee and 
 Pledge Agreement 
 SUBSIDIARY GUARANTORS 

CB HoldCo, Inc. 

CB Richard Ellis Investors, Inc. 
 CB Richard Ellis Investors, L.L.C. 
 CB Richard Ellis, Inc. 

CB/TCC Global Holdings Limited 
 CB/TCC Holdings LLC 
 CB/TCC, LLC 

CBRE-Profi Acquisition Corp. 
 CBRE Capital Markets of Texas, LP 
 CBRE Capital Markets, Inc. 

CBRE Government Services, LLC 
 CBRE Loan Services, Inc. 
 CBRE Technical Services, LLC 

CBRE/LJM Mortgage Company, L.L.C. 
 HoldPar A 
 HoldPar B 

Insignia/ESG Capital Corporation 
 TC Houston, Inc. 
 TCCT Real Estate, Inc. 

TCDFW, Inc. 

The Polacheck Company, Inc. 
 Trammell Crow Company 
 Trammell Crow Development & Investment, Inc.

 Trammell Crow Services, Inc. 
 Vincent F. Martin, Jr., Inc. 
 Westmark Real Estate Acquisition Partnership, L.P.

  
 GUARANTORS FOR
FOREIGN OBLIGATIONS ONLY 
 CB Richard Ellis Limited (a corporation organized under the laws of England and Wales)

 CB Richard Ellis Limited (a corporation organized under the laws of the province of New Brunswick) 

CBRE Global Holdings SARL 
 RELAM Amsterdam Holdings B.V. 

  
 2 

  
 Schedule II to

 Guarantee and 
 Pledge Agreement 
  

									
	  
 DOMESTIC PLEDGED STOCK
  

	
Issuer
	  	Number of Certificate	  	Registered Owner	  	Number and Class of Shares	  	
Percentage of

Ownership

Pledged

	CB Richard Ellis Services, Inc.	  	P-2	  	CB Richard Ellis Group, Inc.	  	6,250 Series A Convertible Participating Preferred Stock	  	100%
	CB Richard Ellis Services, Inc.	  	C-2	  	CB Richard Ellis Group, Inc.	  	11,493.896 Common Stock	  	100%
	CB Richard Ellis, Inc.	  	3	  	CB HoldCo, Inc.	  	100 Capital Stock	  	100%
	CB HoldCo, Inc.	  	V-2	  	CB/TCC, L.L.C.	  	 100

Voting Common
	  	100%
	CB/TCC, L.L.C.	  	N/A	  	CB Richard Ellis Services, Inc.	  	N/A	  	85.08%
	CB/TCC, L.L.C.	  	N/A	  	 CB/TCC Global Holdings

Limited
	  	N/A	  	14.92%
	CB Richard Ellis Investors, Inc.	  	4	  	CB Richard Ellis, Inc.	  	2,000 Common	  	100%
	CBRE Capital Markets, Inc. (f/k/a CBRE Melody & Company and L. J. Melody &
Company)	  	8	  	CB Richard Ellis, Inc.	  	10	  	100%
	HoldPar A	  	N/A	  	Westmark Real Estate
Acquisition Partnership, L.P.	  	N/A	  	99.966%
	HoldPar A	  	N/A	  	HoldPar B	  	N/A	  	0.034%
	Westmark Real Estate Acquisition Partnership, L.P.	  	N/A	  	CB Richard Ellis, Inc.	  	N/A	  	20.87%
	Westmark Real Estate Acquisition Partnership, L.P.	  	N/A	  	Vincent F. Martin, Jr., Inc.	  	N/A	  	79.13%
	HoldPar B	  	N/A	  	Westmark Real Estate
Acquisition Partnership, L.P.	  	N/A	  	99.999%
	HoldPar B	  	N/A	  	HoldPar A	  	N/A	  	0.001%
	CB Richard Ellis Investors, L.L.C.	  	N/A	  	HoldPar A	  	N/A	  	79.13%
	CB Richard Ellis Investors, L.L.C.	  	N/A	  	HoldPar B	  	N/A	  	20.87%
	CBRE Technical Services, L.L.C.	  	N/A	  	CB Richard Ellis, Inc.	  	N/A	  	100%
	CBRE Capital Markets of Texas, LP (f/k/a CBRE Melody	  	N/A	  	CBRE/LJM Mortgage
Company, L.L.C.	  	N/A	  	0.01%

  

									
	of Texas, LP and L.J. Melody & Company of Texas,
LP)	  	 	  	 	  	 	  	 
	 The Polacheck Company, Inc.

 
	  	107	  	CB Richard Ellis, Inc.	  	 11,683

Common
	  	100%
	 The Polacheck Company, Inc.

 
	  	108	  	CB Richard Ellis, Inc.	  	 393

Preferred Stock
	  	100%
	Vincent F. Martin, Jr., Inc.	  	2	  	CB Richard Ellis, Inc.	  	1,000	  	100%
	CB/TCC Holdings LLC	  	N/A	  	CB Richard Ellis Services, Inc.	  	N/A	  	100%

  
 2 

  

									
	  

FOREIGN PLEDGED STOCK
  

	 Issuer
	  	Number of Certificate	  	Registered Owner	  	 Number and

Class of Shares
	  	 Percentage of
 Ownership

Pledged

	Noble Gibbons Limited	  	12	  	CB Richard Ellis, Inc.	  	 6,500

Ordinary Shares
	  	65%
	CBRE Luxemburg Holdings, S.A.R.L.	  	N/A	  	CB Richard Ellis, Inc.	  	N/A	  	65%
	CB Richard Ellis Registrars Ltd.	  	N/A	  	CB Richard Ellis, Inc.	  	N/A	  	65%
	CBRE Finance Europe LLP	  	N/A	  	 CB Richard Ellis

Services, Inc. / CB

Richard Ellis , Inc.
	  	N/A	  	65%
	 CB/TCC Global Holdings Limited

 
	  	1	  	 CB Richard Ellis

Services, Inc.
	  	 2

Ordinary Shares
	  	20%
	 CB/TCC Global Holdings Limited

 
	  	2	  	 CB Richard Ellis

Services, Inc.
	  	 8

Ordinary Shares
	  	80%
	 CB Richard Ellis

Limited
  
	  	23	  	 CB Richard Ellis

Services, Inc.
	  	5,200,000	  	65%

  
 3 

  
 Exhibit A to the

 Guarantee and 
 Pledge Agreement 
 SUPPLEMENT NO.
[    ] (this “Supplement”) dated as of [    ], to the Guarantee and Pledge Agreement dated as of November 10, 2010 (the “Guarantee and Pledge Agreement”),
among CB RICHARD ELLIS SERVICES, INC., a Delaware corporation (the “U.S. Borrower”), CB RICHARD ELLIS GROUP, INC., a Delaware corporation (“Holdings”), the Subsidiaries of the U.S. Borrower from time
to time party thereto (the “Subsidiary Guarantors” and, together with the U.S. Borrower and Holdings, the “Grantors”) and CREDIT SUISSE AG (“Credit Suisse”), as collateral agent
(in such capacity, the “Collateral Agent”) for the Secured Parties (as defined therein). 
 A.   Reference is made to the Credit Agreement dated as of November 10, 2010 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the U.S. Borrower, CB Richard Ellis Limited, a limited company organized under the laws of England and Wales (the “U.K. Borrower”), CB Richard Ellis Limited, a corporation organized under the
laws of the province of New Brunswick (the “Canadian Borrower”), CB Richard Ellis Pty Ltd, a company organized under the laws of Australia and registered in New South Wales (the “Australian
Borrower”), CB Richard Ellis Limited, a company organized under the laws of New Zealand (the “New Zealand Borrower”), Holdings, the lenders from time to time party thereto (the
“Lenders”) and Credit Suisse AG, as administrative agent (in such capacity, the “Administrative Agent”) and Collateral Agent. 

B.   Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such
terms in the Guarantee and Pledge Agreement and the Credit Agreement. 
 C.   The Grantors have
entered into the Guarantee and Pledge Agreement in consideration of, among other things, Loans made and Letters of Credit issued under the Credit Agreement. Section 7.16 of the Guarantee and Pledge Agreement provides that additional
Subsidiaries of the U.S. Borrower may become Subsidiary Guarantors and Grantors under the Guarantee and Pledge Agreement by the execution and delivery of an instrument in the form of this Supplement. The undersigned Subsidiary (the “New
Loan Party”) is executing this Supplement in accordance with the requirements of the Credit Agreement to become a Subsidiary Guarantor and a Grantor under the Guarantee and Pledge Agreement in order to induce the Lenders to make
additional Loans and the Issuing Bank to issue additional Letters of Credit and as consideration for Loans previously made and Letters of Credit previously issued. 

  

Accordingly, the Collateral Agent and the New Loan Party agree as follows: 

SECTION 1.   In accordance with Section 7.16 of the Guarantee and Pledge Agreement, the New Loan Party by
its signature below becomes a Grantor and Subsidiary Guarantor under the Guarantee and Pledge Agreement with the same force and effect as if originally named therein as a Grantor and Subsidiary Guarantor and the New Loan Party hereby (a) agrees
to all the terms and provisions of the Guarantee and Pledge Agreement applicable to it as a Grantor and Subsidiary Guarantor thereunder and (b) represents and warrants that the representations and warranties made by it as a Grantor and
Subsidiary Guarantor thereunder are true and correct on and as of the date hereof. In furtherance of the foregoing, the New Loan Party, as security for the payment and performance in full of the Obligations (as defined in the Guarantee and Pledge
Agreement), does hereby create and grant to the Collateral Agent, its successors and assigns, for the ratable benefit of the Secured Parties, their successors and assigns, a security interest in and lien on all of the New Loan Party’s right,
title and interest in and to the Collateral (as defined in the Guarantee and Pledge Agreement) of the New Loan Party. Each reference to a “Grantor” or a “Subsidiary Guarantor” in the Guarantee and Pledge Agreement shall be deemed
to include the New Loan Party. The Guarantee and Pledge Agreement is hereby incorporated herein by reference. 

SECTION 2.   The New Loan Party represents and warrants to the Collateral Agent and the other Secured Parties
that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms. 

SECTION 3.   This Supplement may be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Supplement shall become effective when the Collateral Agent shall have received counterparts of this Supplement
that, when taken together, bear the signatures of the New Loan Party and the Collateral Agent. Delivery of an executed signature page to this Supplement by facsimile transmission or other customary means of electronic transmission (e.g.,
“pdf”) shall be as effective as delivery of a manually signed counterpart of this Supplement. 

SECTION 4.   The New Loan Party hereby represents and warrants that (a) set forth on Schedule I
attached hereto is a true and correct schedule of any and all Equity Interests now owned by the New Loan Party and (b) set forth under its signature hereto, is the true and correct legal name of the New Loan Party and its jurisdiction of
organization. 
 SECTION 5.   Except as expressly supplemented hereby, the Guarantee and Pledge
Agreement shall remain in full force and effect. 

  
 A-2

  

SECTION 6.   THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK. 
 SECTION 7.    In case any one or more of the provisions contained
in this Supplement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and in the Guarantee and Pledge Agreement shall not in any way be affected or
impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties hereto shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 8.    All communications and notices hereunder shall (except as otherwise expressly
permitted by the Guarantee and Pledge Agreement) be in writing and given as provided in Section 9.01 of the Credit Agreement. All communications and notices hereunder to the New Loan Party shall be given to it in care of the U.S. Borrower as
provided in Section 9.01 of the Credit Agreement. 
 [Remainder of this page intentionally left blank] 

  
 A-3

  
 IN
WITNESS WHEREOF, the New Loan Party and the Collateral Agent have duly executed this Supplement to the Guarantee and Pledge Agreement as of the day and year first above written. 

 

					
	 [NAME OF NEW LOAN PARTY]

			
		 	 by
	 	
		 		 	 
		 		 	 Name:

		 		 	 Title:

		 		 	 Address:

		 		 	 Legal Name:

		 		 	 Jurisdiction of Formation:

	
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Collateral Agent

			
		 	 by
	 	
		 		 	 
		 		 	 Name:

		 		 	 Title:

			
		 	 by
	 	
		 		 	 
		 		 	 Name:

		 		 	 Title:

  
 A-4

 Exhibit B to the 
 Guarantee and 
 Pledge Agreement 

FORM OF 

PERFECTION CERTIFICATE 

  
 PERFECTION CERTIFICATE

 Reference is made to the Credit Agreement dated as of November 10, 2010 (as amended, supplemented or
otherwise modified from time to time, the “Credit Agreement”), among CB Richard Ellis Services, Inc., a Delaware corporation (the “U.S. Borrower”), CB Richard Ellis Limited, a limited company organized
under the laws of England and Wales (the “U.K. Borrower”), CB Richard Ellis Limited, a corporation organized under the laws of the province of New Brunswick, (the “Canadian Borrower”), CB Richard Ellis
Pty Ltd, a company organized under the laws of Australia and registered in New South Wales (the “Australian Borrower”), CB Richard Ellis Limited, a company organized under the laws of New Zealand (the “New Zealand
Borrower”), CB Richard Ellis Group, Inc., a Delaware corporation (“Holdings”), the lenders from time to time party thereto (the “Lenders”) and Credit Suisse AG, as administrative agent (in
such capacity, the “Administrative Agent”) and as collateral agent (in such capacity, the “Collateral Agent”). Capitalized terms used but not defined herein have the meanings assigned in the Credit
Agreement or the Guarantee and Pledge Agreement referred to therein, as applicable. 
 The undersigned, a Responsible Officer of
Holdings, hereby certifies to the Administrative Agent and each other Secured Party as follows: 
 1. Names.
(a) The exact legal name of each Grantor, as such name appears in its respective certificate of formation or organization, appears on Schedule 1A. 
 (b) Set forth on Schedule 1B is each other legal name each Grantor has had in the past five years, together with the date of the relevant change. 

(c) Except as set forth in Schedule 1C, no Grantor has changed its identity or corporate structure in any way within the past
five years. Changes in identity or corporate structure would include mergers, consolidations and acquisitions, as well as any change in the form, nature or jurisdiction of organization. If any such change has occurred, include in Schedule 1C
the information required by Sections 1 and 2 of this certificate as to each acquiree or constituent party to a merger or consolidation. 
 (d) Set forth on Schedule 1D is the Organizational Identification Number, if any, issued by the jurisdiction of formation of each Grantor that is a registered organization. 

(e) Set forth on Schedule 1E is the Federal Taxpayer Identification Number of each Grantor: [Only necessary for filing in North
Dakota and South Dakota.] 
 2. Current Locations. (a) The chief executive office of each Grantor is located at
the address set forth opposite its name on Schedule 2A. 
 (b) Set forth on Schedule 2B opposite the name of each Grantor
are all locations where such Grantor maintains any books or records relating to any Accounts Receivable (with each location at which chattel paper, if any, is kept being indicated by an “*”). 

  
 (c) The
jurisdiction of formation of each Grantor that is a registered organization is set forth opposite its name on Schedule 2C. 

3. File Search Reports. File search reports have been obtained from each Uniform Commercial Code filing office identified
with respect to each Grantor in Section 2 hereof, and such search reports reflect no liens against any of the Collateral other than those permitted under the Credit Agreement. 

4. UCC Filings. Financing statements in substantially the form of Schedule 4 hereto have been prepared for filing in the
proper Uniform Commercial Code filing office in the jurisdiction in which each Grantor is located. 
 5. Schedule of
Filings. Attached hereto as Schedule 5 is a schedule setting forth, with respect to the filings described in Section 4 above, each filing and the filing office in which such filing is to be made. 

6. Stock Ownership and other Equity Interests. Attached hereto as Schedule 6 is a true and correct list of all the issued and
outstanding stock, partnership interests, limited liability company membership interests or other equity interest owned by each Grantor that are required to be pledged under the Guarantee and Pledge Agreement and the issuer of such stock,
partnership interests, membership interests or other equity interests. 

  
 2 

  
 IN WITNESS WHEREOF,
the undersigned have duly executed this certificate on this [            ] day of [            ], 2010. 

 

					
	CB RICHARD ELLIS GROUP, INC.,
		
	By	 	 
		 	Name:	 	
		 	Title:	 	Responsible Officer

  
 SCHEDULE 1A

 Exact Legal Name of Each Grantor 

  
 SCHEDULE 1B

 Other Legal Names Within the Past Five Years With Date of Relevant Change 

  
 SCHEDULE 1C

 Changes in Identity or Corporate Structure Within the Past Five Years 

  
 SCHEDULE 1D

 Organizational Identification Number 

 

			
	Grantor	  	 Organizational Identification
 Number

	 	  	 

  
 SCHEDULE 1E

 Federal Taxpayer Identification Number of Each Grantor 

 

			
	Grantor	 	 Federal Taxpayer Identification
 Number

	 	 	 

 SCHEDULE 2A 
 Chief Executive Office of Each Grantor 
  

							
	Grantor	 	Mailing Address	 	County	 	State
	 	 	 	 	 	 	 

  
 SCHEDULE 2B

 Locations of Books or Records Relating to any Accounts Receivable 

 

							
	Grantor	 	Mailing Address	 	County	 	State
	 	 	 	 	 	 	 

 SCHEDULE 2C 
 Jurisdiction of Formation of Each Grantor 
  

			
	Grantor	 	Jurisdiction of 
Formation
	 	 	 

 SCHEDULE 4 
 UCC Financing Statements 

 SCHEDULE 5 
 UCC Filings and Filing Offices 
  

							
	Debtor	 	Secured Party	 	Filing Office	  	Collateral 
Description
	 	 	 	 	 	  	 

  
 SCHEDULE 6

 Stock Ownership and Equity Interests 

 

									
	Issuer	 	 Number
of
Certificate
 (if applicable)
	 	 Registered

Owner
	  	Number and
Class of Shares	  	Percentage
of
Ownership PledgedSecurities Purchase Agreement, dated October 13, 2010.

  
 EXHIBIT 10.4

 SECURITIES PURCHASE AGREEMENT 
 THIS SECURITIES PURCHASE AGREEMENT (this “Agreement”) is dated as of October 13, 2010, by and among World Heart Corporation, a Delaware corporation (the
“Company”), and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a “Purchaser” and collectively, the “Purchasers”).

 RECITALS 
 A. The Company and each Purchaser is executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by Section 4(2) of the Securities
Act of 1933, as amended (the “Securities Act”), and Rule 506 of Regulation D (“Regulation D”) as promulgated by the United States Securities and Exchange Commission (the
“Commission”) under the Securities Act. 
 B. Each Purchaser, severally and not jointly,
wishes to purchase, and the Company wishes to sell, upon the terms and conditions stated in this Agreement, (i) that aggregate number of shares of the common stock (the “Common Stock”) of the Company, set forth below
such Purchaser’s name on the signature page of this Agreement (which aggregate amount for all Purchasers together shall be 11,850,118 shares of Common Stock and shall be collectively referred to herein as the
“Shares”) and (ii) warrants, in substantially the form attached hereto as Exhibit A (the “Warrants”), to acquire up to that number of additional shares of Common Stock equal to 100% of
the number of shares purchased by such Purchaser on the Closing Date, set forth below such Purchaser’s name on the signature page of this Agreement (the shares of Common Stock issuable upon exercise of or otherwise pursuant to the Warrants
collectively are referred to herein as the “Warrant Shares”). 
 C. The Shares, the Warrants
and the Warrant Shares collectively are referred to herein as the “Securities”. 

D. Contemporaneously with the execution and delivery of this Agreement, the parties hereto are executing and delivering a
Registration Rights Agreement, substantially in the form attached hereto as Exhibit B (the “Registration Rights Agreement”), pursuant to which, among other things, the Company will agree to provide certain
registration rights with respect to the Shares and the Warrant Shares under the Securities Act and the rules and regulations promulgated thereunder and applicable state securities laws. 

NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the Company and the Purchasers hereby agree as follows: 

  
 ARTICLE 1

 DEFINITIONS 
 1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms shall have the meanings indicated in this
Section 1.1: 
 “Action” means any action, suit, inquiry, notice of violation, proceeding
(including any partial proceeding such as a deposition) or investigation pending or, to the Company’s Knowledge, threatened in writing (or otherwise) against the Company or any of their respective properties or any officer, director or employee
of the Company acting in his or her capacity as an officer, director or employee before or by any federal, state, county, local or foreign court, arbitrator, governmental or administrative agency, regulatory authority, stock market, stock exchange
or trading facility. 
 “Affiliate” means, with respect to any Person, any other Person that, directly
or indirectly through one or more intermediaries, Controls, is controlled by or is under common control with such Person, as such terms are used in and construed under Rule 144. With respect to a Purchaser, any investment fund or managed
account that is managed on a discretionary basis by the same investment manager as such Purchaser will be deemed to be an Affiliate of such Purchaser. 
 “Agreement” shall have the meaning ascribed to such term in the Preamble. 
 “Business Day” means a day, other than a Saturday or Sunday, on which banks in New York City are open for the general transaction of business. 

“Closing” means the closing of the purchase by the Purchasers listed on Annex A hereto and sale by the Company of
Shares and Warrants to such Purchasers pursuant to this Agreement on the Closing Date as provided in Section 2.1(a) hereof. 
 “Closing Bid Price” means, for any security as of any date, the last closing price for such security on the Principal Trading Market, as reported by Bloomberg. 

“Closing Date” means the third (3rd) Trading Day after the date on which this Agreement has been executed
and delivered by all parties hereto, unless on such date the conditions set forth in Sections 2.1, 2.2, 5.1 and 5.2 (other than those to be satisfied at the Closing) shall not have been satisfied or waived, in which case the Closing Date shall
be on the third (3rd) Trading Day after the date on which the last to be satisfied or waived of the conditions set forth in Sections 2.1, 2.2, 5.1 and 5.2 (other than those to be satisfied at the Closing) shall have been satisfied or
waived. 
 “Common Stock” has the meaning set forth in the Recitals, and also includes any securities
into which the Common Stock may hereafter be reclassified or changed. 

  
 “Common
Stock Equivalents” means any securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument
that is at any time convertible into or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock or other securities that entitle the holder to receive, directly or indirectly, Common Stock. 

“Company Counsel” means Cooley LLP. 
 “Company Deliverables” has the meaning set forth in Section 2.2(a). 
 “Company’s Knowledge” means the actual knowledge of the executive officers (as defined in Rule 405 under the Securities Act) of the Company, after due inquiry.

 “Control” (including the terms “controlling”,
“controlled” by or “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the
ownership of voting securities, by contract or otherwise. 
 “Disclosure Materials” has the meaning set
forth in Section 3.1(h). 
 “Effective Date” means the date on which the initial Registration
Statement required by Section 2(a) of the Registration Rights Agreement is first declared effective by the Commission. 
 “Effectiveness Deadline” means the date on which the initial Registration Statement is required to be declared effective by the Commission under the terms of the Registration
Rights Agreement. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any
successor statute, and the rules and regulations promulgated thereunder. 
 “GAAP” means U.S.
generally accepted accounting principles, as applied by the Company. 
 “Intellectual Property” means
all of the following: (i) patents, patent applications, patent disclosures and inventions (whether or not patentable and whether or not reduced to practice); (ii) trademarks, service marks, trade dress, trade names, corporate names, logos,
slogans and Internet domain names, together with all goodwill associated with each of the foregoing; (iii) copyrights and copyrightable works; (iv) registrations, applications and renewals for any of the foregoing; and (v) proprietary
computer software (including but not limited to data, data bases and documentation). 
 “Irrevocable Transfer Agent
Instructions” means, with respect to the Company, the Irrevocable Transfer Agent Instructions, in the form of Exhibit D, executed by the Company and delivered to and acknowledged in writing by the Transfer Agent. 

“Lien” means any lien, charge, claim, encumbrance, security interest, right of first refusal, preemptive right or
other restrictions of any kind. 

  
 “Material
Adverse Effect” means a material adverse effect on (a) the results of operations, assets, liabilities, business, or financial condition of the Company and its Subsidiaries, taken as a whole, or (b) the ability of the Company
to perform its obligations under the Transaction Documents, except that any of the following, either alone or in combination, shall not be deemed a Material Adverse Effect: (i) effects caused by changes or circumstances affecting general
market conditions in the U.S. economy or which are generally applicable to the industry in which the Company operates, (ii) effects resulting from or relating to the announcement or disclosure of the sale of the Securities or other transactions
contemplated by this Agreement, or (iii) effects caused by any event, occurrence or condition resulting from or relating to the taking of any action in accordance with this Agreement. 

“Material Contract” means any contract of the Company or any of its Subsidiaries that has been filed or was
required to have been filed as an exhibit to the SEC Reports pursuant to Item 601(b)(4) or Item 601(b)(10) of Regulation S-K. 
 “New York Courts” means the state and federal courts sitting in the City of New York, Borough of Manhattan. 

“Officer’s Certificate” has the meaning set forth in Section 2.2(a)(vi). 

“Outside Date” means November 13, 2010. 

“Person” means an individual, corporation, partnership, limited liability company, trust, business trust,
association, joint stock company, joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically listed herein. 

“Principal Trading Market” means the Trading Market on which the Common Stock is primarily listed on and quoted
for trading, which, as of the date of this Agreement and the Closing Date, shall be the Nasdaq Capital Market. 

“Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an
investigation or partial proceeding, such as a deposition), whether commenced or threatened. 
 “Purchase
Price” means $2.135 per unit. 
 “Purchaser Deliverables” has the meaning set forth in
Section 2.2(b). 
 “Registration Rights Agreement” has the meaning set forth in the Recitals.

 “Registration Statement” means a registration statement meeting the requirements set forth in the
Registration Rights Agreement and covering the resale by the Purchasers of the Registrable Securities (as defined in the Registration Rights Agreement). 
 “Required Approvals” has the meaning set forth in Section 3.1(e). 
 “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or
regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

  
 “SEC
Reports” has the meaning set forth in Section 3.1(h). 
 “Securities Act” means
the Securities Act of 1933, as amended. 
 “Short Sales” include, without limitation, (i) all
“short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, whether or not against the box, and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, short
sales, swaps, “put equivalent positions” (as defined in Rule 16a-1(h) under the Exchange Act) and similar arrangements (including on a total return basis), and (ii) sales and other transactions through non-U.S. broker
dealers or foreign regulated brokers. 
 “Subscription Amount” means with respect to each Purchaser, the
aggregate amount to be paid for the Shares and the related Warrants purchased hereunder as indicated opposite such Purchaser’s name on Annex A to this Agreement under the heading “Aggregate Purchase Price (Subscription Amount)”.

 “Subsidiary” means another Person, an amount of the voting securities, other voting ownership or
voting partnership interests of which is sufficient to elect at least a majority of its board of directors or other governing body or, if there are no such voting interests, 50% or more of the equity interests of which is owned directly or
indirectly by the Company. 
 “Trading Affiliate” has the meaning set forth in Section 3.2(h).

 “Trading Day” means a day on which the Common Stock is listed or quoted and traded on its Principal
Trading Market. 
 “Trading Market” means whichever of the New York Stock Exchange, the American Stock
Exchange, the Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or the OTC Bulletin Board on which the Common Stock is listed or quoted for trading on the date in question. 

“Transaction Documents” means this Agreement, the schedules and exhibits attached hereto, the Warrants, the
Registration Rights Agreement, the Irrevocable Transfer Agent Instructions and any other documents or agreements executed in connection with the transactions contemplated hereunder. 

“Transfer Agent” means BNY Mellon Shareowner Services, or any successor transfer agent for the Company.

 “Warrants” has the meaning set forth in the Recitals to this Agreement. 

  
 ARTICLE 2

 PURCHASE AND SALE 
 2.1 Closing. 
 (a) Amount. Subject to the terms and
conditions set forth in this Agreement, at the Closing, the Company shall issue and sell to each Purchaser listed on Annex A hereto, and each Purchaser listed on Annex A hereto shall, severally and not jointly, purchase from the Company, such number
of Shares of Common Stock equal to the quotient resulting from dividing (i) the Subscription Amount for such Purchaser by (ii) the Purchase Price. In addition, each Purchaser listed on Annex A hereto shall receive a Warrant to purchase a
number of Warrant Shares equal to 100% of the number of Shares purchased by such Purchaser on the Closing Date, as indicated opposite such Purchaser’s name on Annex A to this Agreement. The Warrants shall have an exercise price equal to $2.31
per Warrant Share. 
 (b) Closing. The Closing of the purchase and sale of the Shares and Warrants shall take place
at the offices of Company Counsel, 3175 Hanover Street, Palo Alto, California on the Closing Date or at such other locations or remotely by facsimile transmission or other electronic means as the parties may mutually agree. 

(c) Form of Payment. Unless alternative arrangements are agreed to with a particular Purchaser, on the Closing
Date, (i) each Purchaser listed on Annex A hereto shall wire its Subscription Amount, in United States dollars and in immediately available funds, in the amount set forth as the “Aggregate Purchase Price (Subscription Amount)”
indicated opposite such Purchaser’s name on Annex A hereto by wire transfer to the Company’s account, as set forth in instructions previously provided to the Purchasers, (ii) the Company shall irrevocably instruct the Transfer Agent
to deliver to each Purchaser listed on Annex A hereto one or more stock certificates, free and clear of all restrictive and other legends except as expressly provided in Section 4.1(b) hereof, evidencing the number of Shares such Purchaser
is purchasing as is set forth opposite such Purchaser’s name on Annex A to this Agreement under the heading “Number of Shares to be Acquired”, within three (3) Business Days after the Closing and (iii) the Company shall
issue to each Purchaser listed on Annex A hereto a Warrant pursuant to which such Purchaser shall have the right to acquire such number of Warrant Shares as is set forth opposite such Purchaser’s name on Annex A to this Agreement under the
heading “Underlying Shares Subject to Warrant”, in the case of clauses (ii) and (iii), duly executed on behalf of the Company and registered in the name of such Purchaser. 

2.2 Closing Deliveries. (a) On or prior to the Closing with respect to the Purchasers listed on Annex A hereto the
Company shall issue, deliver or cause to be delivered to each such Purchaser the following (the “Company Deliverables”): 
 (i) this Agreement, duly executed by the Company; 

(ii) unless alternative arrangements are agreed to with a particular Purchaser, facsimile copies of one or more stock
certificates, free and clear of all restrictive and other legends except as provided in Section 4.1(b) hereof, evidencing the Shares subscribed for by such Purchaser hereunder, registered in the name of such Purchaser as set forth on the
Stock Certificate Questionnaire included as Exhibit C-2 hereto (the “Stock Certificates”), with the original Stock Certificates delivered within three (3) Business Days of Closing; 

  
 (iii) a
Warrant, executed by the Company and registered in the name of such Purchaser as set forth on the Stock Certificate Questionnaire included as Exhibit C-2 hereto, pursuant to which such Purchaser shall have the right to acquire such
number of Warrant Shares equal to 100% of the number of Shares purchased by such Purchaser on the Closing Date, on the terms set forth therein; 
 (iv) the Registration Rights Agreement, duly executed by the Company; 

(v) duly executed Irrevocable Transfer Agent Instructions acknowledged in writing by the Transfer Agent; 

(vi) a certificate of the Company (the “Officer’s Certificate”), dated as of the Closing Date,
(a) certifying the resolutions adopted by the Board of Directors of the Company or a duly authorized committee thereof approving the transactions contemplated by this Agreement and the other Transaction Documents and the issuance of the
Securities and the reservation for issuance of the Warrant Shares, (b) certifying the current versions of the Certificate of Incorporation, as amended, and bylaws of the Company (c) certifying as to the signatures and authority of persons
signing the Transaction Documents and related documents on behalf of the Company, in the form attached hereto as Exhibit E and (d) certifying good standing certificates with respect to the Company and its Subsidiary World Hearts
Inc. from the Secretary of State of the State of Delaware, dated a recent date before the Closing Date; 

(vii) the Compliance Certificate referred to in Section 5.1(g). 

(b) On or prior to the Closing with respect to the Purchasers listed on Annex A hereto each such Purchaser shall deliver or
cause to be delivered to the Company the following (the “Purchaser Deliverables”): 

(i) this Agreement, duly executed by such Purchaser; 

(ii) its Subscription Amount, in United States dollars and in immediately available funds, in the amount set forth as the
“Aggregate Purchase Price (Subscription Amount)” indicated below such Purchaser’s name on the applicable signature page hereto by wire transfer to the Company’s account as previously provided to the Purchasers; 

(iii) the Registration Rights Agreement, duly executed by such Purchaser; 

(iv) a fully completed and duly executed Selling Stockholder Questionnaire in the form attached as Annex B to the
Registration Rights Agreement; and 
 (v) a fully completed and duly executed Accredited Investor Questionnaire and
Stock Certificate Questionnaire in the forms attached hereto as Exhibits C-1 and C-2, respectively. 

  
 ARTICLE 3

 REPRESENTATIONS AND WARRANTIES 
 3.1 Representations and Warranties of the Company. The Company hereby represents and warrants as of the date hereof and the Closing Date (except for the representations and warranties that
speak as of a specific date, which shall be made as of such date), to each of the Purchasers that, except as set forth in the Schedules delivered herewith or disclosed in the SEC Reports: 

(a) Subsidiaries. Except as disclosed in the SEC Reports, the Company does not have any direct and indirect Subsidiaries.

 (b) Organization and Qualification. The Company and each Subsidiary is an entity duly incorporated or otherwise
organized, validly existing and in good standing under the laws of the jurisdiction of its respective incorporation, with the requisite corporate power and authority to own or lease and use its properties and assets and to carry on its business as
currently conducted. Neither the Company nor any of its Subsidiaries is in violation of any of the provisions of its respective Certificate of Incorporation or bylaws, or other organizational documents, as applicable. The Company and each Subsidiary
is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the
failure to be so qualified or in good standing, as the case may be, would not have a Material Adverse Effect. 

(c) Authorization; Enforcement; Validity. The Company has the requisite corporate power and authority to enter into and to
consummate the transactions contemplated by each of the Transaction Documents to which it is a party and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of each of the Transaction Documents to which the
Company is a party and the consummation by it of the transactions contemplated hereby and thereby (including, but not limited to, the sale and delivery of the Shares and the Warrants and the reservation for issuance and the subsequent issuance of
the Warrant Shares upon exercise of the Warrants) have been duly authorized by all necessary corporate action on the part of the Company, and no further corporate action is required by the Company, its Board of Directors or its stockholders in
connection therewith, other than in connection with the Required Approvals to be obtained, made, filed or given by the Company after the Closing pursuant to Section 4 hereof or the Registration Rights Agreement. Each of the Transaction
Documents to which it is a party has been (or upon delivery will have been) duly executed by the Company and is, or when delivered in accordance with the terms hereof, will constitute the legal, valid and binding obligation of the Company
enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the
enforcement of, creditors’ rights and remedies or by other equitable principles of general application. Except as disclosed in the SEC Reports, there are no stockholder agreements, voting agreements, or other similar arrangements with
respect to the Company’s capital stock to which the Company is a party or, to the Company’s Knowledge, between or among any of the Company’s stockholders. 

  
 (d) No
Conflicts. The execution, delivery and performance by the Company of the Transaction Documents to which it is a party and the consummation by the Company of the transactions contemplated hereby or thereby (including, without limitation, the
issuance of the Shares and Warrants and the reservation for issuance and issuance of the Warrant Shares pursuant to the Warrants) do not and will not (i) conflict with or violate any provisions of the Company’s Certificate of Incorporation
or bylaws or otherwise result in a violation of the organizational documents of the Company or any Subsidiary, (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under,
result in the creation of any Lien upon any of the properties or assets of the Company or any of its Subsidiaries or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both)
of, any Material Contract or (iii) result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company or any of its Subsidiaries is subject
(including federal, state and applicable foreign securities laws and regulations and the rules and regulations, assuming the correctness of the representations and warranties made by the Purchasers herein, of any self regulatory organization to
which the Company or its securities are subject, including all applicable Trading Markets), or by which any property or asset of the Company or any of its Subsidiaries is bound or affected, except in the case of clause (iii) such as would not,
individually or in the aggregate, be reasonably expected to have a Material Adverse Effect. 
 (e) Filings, Consents and
Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other
Person in connection with the execution, delivery and performance by the Company of the Transaction Documents (including the issuance of the Securities and reservation for issuance of the Warrant Shares pursuant to the Warrants), other than
(i) the filing with the Commission of one or more Registration Statements in accordance with the requirements of the Registration Rights Agreement, (ii) filings required by applicable state securities laws, (iii) the filing of a
Notice of Sale of Securities on Form D with the Commission under Regulation D of the Securities Act, (iv) the filing of any requisite notices and/or application(s) to the Principal Trading Market for the issuance and sale of the
Shares and the Warrants, and the issuance of the Warrant Shares upon exercise of the Warrants, and the listing of the Shares and the Warrant Shares for trading or quotation, as the case may be, thereon in the time and manner required thereby and
(v) those that have been made or obtained prior to the date of this Agreement (collectively, the “Required Approvals”). 
 (f) Issuance of the Securities. The Shares have been duly authorized and, when issued and paid for in accordance with the terms of the Transaction Documents, will be duly and validly issued,
fully paid and nonassessable and free and clear of all Liens, other than restrictions on transfer provided for in the Transaction Documents or imposed by applicable securities laws, and shall not be subject to preemptive or similar rights. The
Warrants have been duly authorized and, when issued and paid for in accordance with the terms of the Transaction Documents, will be duly and validly issued, free and clear of all Liens, other than restrictions on transfer provided for in the
Transaction Documents or imposed by applicable securities laws, and shall not be subject to preemptive or similar rights of stockholders. The Warrant Shares issuable upon exercise of the Warrants have been duly authorized and, when issued and paid
for in accordance with the terms of the Transaction Documents and the Warrants will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens, other than restrictions on transfer provided for in the Transaction Documents
or imposed by applicable securities laws, and shall not be subject to preemptive or similar rights of stockholders. Assuming the accuracy of the representations and warranties of the Purchasers in this Agreement, the Warrants, the Shares and the
Warrant Shares will be issued in compliance with all applicable federal and state securities laws. As of the Closing Date, the Company shall have reserved from its duly authorized capital stock not less than the maximum number of shares of Common
Stock issuable upon exercise of the Warrants (without taking into account any limitations on the exercise of the Warrants set forth in the Warrants). The Company shall, so long as any of the Warrants are outstanding, take all action necessary to
reserve and keep available out of its authorized and unissued capital stock, solely for the purpose of effecting the exercise of the Warrants, the number of shares of Common Stock issuable upon exercise of the Warrants (without taking into account
any limitations on the exercise of the Warrants set forth in the Warrants). 

  

(g) Capitalization. The number of shares and type of all authorized, issued and outstanding capital stock,
options and other securities of the Company (whether or not presently convertible into or exercisable or exchangeable for shares of capital stock of the Company) has been set forth in the SEC Reports and has changed since the date set forth in such
SEC Reports only to reflect stock option exercises and grants and warrant exercises that have not, individually or in the aggregate, had a material effect on the issued and outstanding capital stock, options and other securities and have not
otherwise been required to be reported by the Company under the Exchange Act. All of the outstanding shares of capital stock of the Company are duly authorized, validly issued, fully paid and non-assessable, have been issued in compliance in all
material respects with all applicable federal and state securities laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase any capital stock of the
Company. Except as set forth in the SEC Reports: (i) no shares of the Company’s capital stock are subject to preemptive rights or any other similar rights or any Liens or encumbrances suffered or permitted by the Company;
(ii) there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any shares of capital
stock of the Company, or contracts, commitments, understandings or arrangements by which the Company is or may become bound to issue additional shares of capital stock of the Company or options, warrants, scrip, rights to subscribe to, calls or
commitments of any character whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any shares of capital stock of the Company; (iii) there are no outstanding debt securities, notes, credit
agreements, credit facilities or other agreements, documents or instruments evidencing indebtedness of the Company or by which the Company is or may become bound; (iv) there are no financing statements securing obligations in any material
amounts, either singly or in the aggregate, filed in connection with the Company; (v) there are no agreements or arrangements under which the Company is obligated to register the sale of any of their securities under the Securities Act (except
the Registration Rights Agreement); (vi) there are no outstanding securities or instruments of the Company or which contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which
the Company is or may become bound to redeem a security of the Company; (vii) there are no securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance of the Securities; (viii) the
Company does not have any stock appreciation rights or “phantom stock” plans or agreements or any similar plan or agreement; and (ix) the Company has no liabilities or obligations required to be disclosed in the SEC Reports but not so
disclosed in the SEC Reports, other than those incurred in the ordinary course of the Company’s business and which, individually or in the aggregate, do not or would not have a Material Adverse Effect. 

  
 (h) SEC
Reports and Disclosure. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by it under the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for twelve
(12) months preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein,
being collectively referred to herein as the “SEC Reports” and together with this Agreement and the Schedules to this Agreement (if any), the “Disclosure Materials”), on a timely basis or has
received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. To the Company’s Knowledge, no event or circumstance has occurred or information exists with respect to the
Company or any of its Subsidiaries or its or their business, properties, operations or financial condition, which, under applicable law, rule or regulation requires the filing of a Form 8-K after the Closing, or otherwise requires public
disclosure or announcement by the Company but which has not been so publicly announced or disclosed (other than the transactions contemplated by the Transaction Documents). As of their respective filing dates, or to the extent corrected by a
subsequent amendment, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act and the rules and regulations of the Commission promulgated thereunder, and none of the SEC Reports, when
filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not
misleading. None of the representations, warranties, or covenants in this Agreement, the Warrants or any other Transaction Documents, or other disclosures made to the Purchasers in connection with the transactions contemplated by this
Agreement, the Warrants and the other Transaction Documents, when taken together, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein, in light of the
circumstances under which they were made, not misleading. 
 (i) Financial Statements. The financial statements of
the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements
have been prepared in accordance with GAAP applied on a consistent basis during the periods involved, except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not
contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated subsidiaries taken as a whole as of and for the dates thereof and the results of operations and cash flows
for the periods then ended, subject, in the case of unaudited statements, to normal, year-end audit adjustments. Each of the Material Contracts to which the Company or any of its Subsidiaries is a party or to which the property or assets of the
Company or any of its Subsidiaries is subject has been filed as an exhibit to the SEC Reports. 
 (j) Tax Matters.
The Company and its Subsidiaries (i) have prepared and filed all foreign, federal and state income and all other tax returns, reports and declarations required by any jurisdiction to which they are subject, (ii) have paid all taxes and
other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations, except those being contested in good faith, with respect to which adequate reserves have been set aside
on the books of the Company and its Subsidiaries and (iii) have set aside on the books of the Company and its Subsidiaries provisions reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns,
reports or declarations apply, except, in the case of clauses (i) and (ii) above, where the failure to so pay or file any such tax, assessment, charge or return would not have a Material Adverse Effect. 

  
 (k) Material
Changes. Since the date of the latest financial statements included within the SEC Reports, except as specifically disclosed in the SEC Reports, (i) there have been no events, occurrences or developments that have had or would reasonably be
expected to have, either individually or in the aggregate, a Material Adverse Effect, (ii) the Company and its Subsidiaries have not incurred any material liabilities (contingent or otherwise) other than (A) trade payables, accrued
expenses and other liabilities incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP or to be disclosed in filings
made with the Commission, (iii) the Company has not materially altered its method of accounting or the manner in which it keeps its accounting books and records, (iv) the Company has not declared or made any dividend or distribution of
cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock (other than in connection with repurchases of unvested stock issued to employees of the Company),
(v) the Company has not issued any equity securities to any officer, director or Affiliate, except Common Stock issued in the ordinary course as dividends, or pursuant to existing Company stock option or stock purchase plans or executive and
director corporate arrangements disclosed in the SEC Reports and (vi) there has not been any material change or amendment to, or any waiver of any material right under, any Material Contract under which the Company or any of its assets is bound
or subject. Except for the issuance of the Securities contemplated by this Agreement, no event, liability or development has occurred or exists with respect to the Company or its business, properties, operations or financial condition that would be
required to be disclosed by the Company under applicable securities laws at the time this representation is made that has not been publicly disclosed at least one Trading Day prior to the date that this representation is made. 

(l) Litigation. Except as disclosed in the SEC Reports, there is no Action which (i) adversely affects or challenges the
legality, validity or enforceability of any of the Transaction Documents or the Securities, (ii) involves a claim of material violation of or material liability under any federal, state, local or foreign laws governing the Company’s and
its Subsidiaries operations, including without limiting the generality of the foregoing, laws regulating the protection of human health, including without limiting the generality of the foregoing, laws relating to the manufacture, processing,
packaging, labeling, marketing, distribution, use, inspection, treatment, storage, disposal, transport or handling of the Company’s and its Subsidiaries’ products, and regulated or hazardous substances, as well as all authorizations,
codes, decrees, demands or demand letters, injunctions, judgments, licenses, notices or notice letters, orders, permits, plans or regulations issued, entered, promulgated or approved thereunder, all as may be in effect from time to time and all
successors, replacements and expansions thereof, (iii) involves injury to or death of any person arising from or relating to any of the Company’s or its Subsidiaries’ products, or (iv) could, if there were an unfavorable
decision, individually or in the aggregate, have a Material Adverse Effect. The Commission has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company under the Exchange Act or the
Securities Act. 

  
 (m) Regulatory
Matters. 
 (i) The Company and its Subsidiaries are in compliance, in all material respects, with all
applicable laws administered or issued by the United States Food and Drug Administration (the “FDA”) or the similar governmental entity in any applicable jurisdiction (together with the FDA, the “Regulating
Authority”). 
 (ii) The Company and its Subsidiaries have obtained all necessary and applicable
exemptions, approvals, clearances, authorizations, licenses and registrations required by Regulating Authorities to permit the development, manufacture, pre-clinical and clinical testing of its products, if any, as presently conducted in
jurisdictions where the Company and its Subsidiaries currently conduct such activities. The Company and its Subsidiaries have properly registered any human clinical trials to the extent required by applicable law. 

(iii) All preclinical and clinical studies conducted by or (to the Company’s Knowledge) for the Company and its
Subsidiaries (i) have been conducted in accordance with recognized good clinical and good laboratory practices in all material respects, and (ii) are in compliance with applicable laws administered or promulgated by the Regulating
Authority regarding preclinical and clinical studies in all material respects. 
 (iv) There have been no recalls
ordered or adverse regulatory actions taken (or, to the Company’s Knowledge, threatened) by the FDA or any other Regulating Authority with respect to any of the products of the Company and its Subsidiaries, if any, including any facilities
where any such products are manufactured, processed, packaged or stored by the Company and its Subsidiaries. 

(v) No false information or significant omission has been made in any products application or products-related submission to
the Regulating Authority by or, to the Company’s Knowledge, on behalf of the Company and its Subsidiaries. 

(n) Title to Assets. The Company and its Subsidiaries have good and marketable title in fee simple to all real property owned
by them as set forth in the SEC Reports. The Company and its Subsidiaries have good and marketable title to all tangible personal property owned by them which is material to the business of the Company and its Subsidiaries, in each case free and
clear of all liens, encumbrances and defects except such as do not materially affect the value of such property and do not interfere with the use made and proposed to be made of such property by the Company and its Subsidiaries. Any real property
and facilities held under lease by the Company or its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such
property and buildings by the Company and its Subsidiaries. 

  

(o) Intellectual Property. 
 (i) All Intellectual Property of the Company and its Subsidiaries is currently in compliance with all legal requirements (including timely filings, proofs and payments of fees). No
Intellectual Property of the Company or its Subsidiaries which is necessary for the conduct of the Company’s and each of its Subsidiaries’ respective businesses as currently conducted or as currently proposed to be conducted has been or is
now involved in any cancellation, dispute or litigation, and, to the Company’s Knowledge, no such action is threatened. No patent of the Company or its Subsidiaries has been or is now involved in any interference, reissue, re-examination
or opposition proceeding. 
 (ii) All of the licenses and sublicenses and consent, royalty or other agreements
concerning Intellectual Property which are necessary for the conduct of the Company’s and each of its Subsidiaries’ respective businesses as currently conducted or as currently proposed to be conducted to which the Company or any
Subsidiary is a party or by which any of their assets are bound (other than generally commercially available, non-custom, off-the-shelf software application programs having a retail acquisition price of less than $10,000 per license) (collectively,
“License Agreements”) are valid and binding obligations of the Company or its Subsidiaries that are parties thereto and, to the Company’s Knowledge, the other parties thereto, enforceable in accordance with their terms,
except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar laws affecting the enforcement of creditors’ rights generally, and there exists no event
or condition which will result in a material violation or breach of or constitute (with or without due notice or lapse of time or both) a default by the Company or any of its Subsidiaries under any such License Agreement. 

(iii) To the Company’s Knowledge, the Company and its Subsidiaries own or have the valid right to use all of the
Intellectual Property that is necessary for the conduct of the Company’s and each of its Subsidiaries’ respective businesses as currently conducted or as currently proposed to be conducted and for the ownership, maintenance and operation
of the Company’s and its Subsidiaries’ properties and assets, free and clear of all liens, encumbrances, adverse claims or obligations to license all such owned Intellectual Property, other than licenses entered into in the ordinary course
of the Company’s and its Subsidiaries’ businesses. To the Company’s Knowledge, the Company and its Subsidiaries have a valid and enforceable right to use all third party Intellectual Property used or held for use in the
respective businesses of the Company and its Subsidiaries. 
 (iv) To the Company’s Knowledge, the conduct of
the Company’s and its Subsidiaries’ businesses as currently conducted does not infringe or otherwise impair or conflict with (collectively, “Infringe”) any Intellectual Property rights of any third party or any
confidentiality obligation owed to a third party, and, to the Company’s Knowledge, the Intellectual Property of the Company and its Subsidiaries which are necessary for the conduct of the Company’s and each of its Subsidiaries’
respective businesses as currently conducted or as currently proposed to be conducted are not being Infringed by any third party. There is no litigation or order pending or outstanding or, to the Company’s Knowledge, threatened or
imminent, that seeks to limit or challenge or that concerns the ownership, use, validity or enforceability of any Intellectual Property of the Company and its Subsidiaries and the Company’s and its Subsidiaries’ use of any Intellectual
Property owned by a third party, and, to the Company’s Knowledge, there is no valid basis for the same. 

  
 (v) The
consummation of the transactions contemplated hereby and by the other Transaction Documents will not result in the alteration, loss, impairment of or restriction on the Company’s or any of its Subsidiaries’ ownership or right to use any of
the Intellectual Property which is necessary for the conduct of Company’s and each of its Subsidiaries’ respective businesses as currently conducted or as currently proposed to be conducted. 

(vi) The Company and its Subsidiaries have taken reasonable steps to protect the Company’s and its Subsidiaries’
rights in their Intellectual Property. Each employee, consultant and contractor who has had access to confidential information which is necessary for the conduct of Company’s and each of its Subsidiaries’ respective businesses as
currently conducted or as currently proposed to be conducted has executed an agreement to maintain the confidentiality of such confidential information and has executed appropriate agreements that are substantially consistent with the Company’s
standard forms thereof. Except under confidentiality obligations, there has been no material disclosure of any of the Company’s or its Subsidiaries’ confidential information to any third party. 

(p) Private Placement. Assuming the accuracy of the Purchasers’ representations and warranties set forth in
Section 3.2 of this Agreement and the accuracy of the information disclosed in the Accredited Investor Questionnaires, no registration under the Securities Act is required for the offer and sale of the Securities by the Company to the
Purchasers under the Transaction Documents. 
 (q) Registration Rights. Other than each of the Purchasers, no Person
has any right to cause the Company to effect the registration under the Securities Act of any securities of the Company other than those securities which are currently registered on an effective registration statement on file with the Commission.

 (r) No Directed Selling Efforts or General Solicitation. Neither the Company, nor any Person acting on behalf of
the Company has conducted any “general solicitation” or “general advertising” (as those terms are used in Regulation D) in connection with the offer or sale of any of the Securities. 

(s) No Integrated Offering. Assuming the accuracy of the Purchasers’ representations and warranties set forth in
Section 3.2, neither the Company nor any Person acting on its behalf has, directly or indirectly, made any offers or sales of any Company security or solicited any offers to buy any security under circumstances that would (i) eliminate the
availability of the exemption from registration under Regulation D under the Securities Act in connection with the offer and sale by the Company of the Securities as contemplated hereby or (ii) cause the offering of the Securities pursuant
to the Transaction Documents to be integrated with prior offerings by the Company or aggregated with prior offerings by the Company for purposes of any applicable law, regulation or stockholder approval provisions, including, without limitation,
under the rules and regulations of any Trading Market on which any of the securities of the Company are listed or designated. 

 (t) Listing and Maintenance Requirements. The Company’s Common Stock is
registered pursuant to Section 12(b) of the Exchange Act, and the Company has taken no action designed to terminate the registration of the Common Stock under the Exchange Act nor has the Company received any notification that the
Commission is contemplating terminating such registration. Except as set forth in the SEC Reports, the Company has not, in the 12 months preceding the date hereof, received written or oral notice from any Trading Market on which the Common
Stock is or has been listed or quoted or from the Financial Industry Regulatory Authority to the effect that the Company is not in compliance with the listing or maintenance requirements of any such Trading Market. Except as set forth in the SEC
Reports, the Company is in compliance in all material respects with the listing and maintenance requirements for continued trading of the Common Stock on the Principal Trading Market. The issuance and sale of the Securities under this Agreement
does not contravene the rules and regulations of the Principal Trading Market, and no approval of the stockholders of the Company thereunder is required for the Company to issue and deliver the Securities to the Purchasers. 

(u) Investment Company. The Company is not required to be registered as, and is not an Affiliate of, and immediately
following the Closing will not be required to register as, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. 
 (v) Transactions with Affiliates. Except as disclosed in the SEC Reports or as contemplated by this Agreement, none of the officers or directors of the Company and, to the Company’s
Knowledge, none of the employees of the Company or any Subsidiary or stockholders of the Company holding 5% or more of the outstanding voting securities of the Company is presently a party to any material transaction with the Company or any
Subsidiary (other than, in the case of officers, directors and employees of the Company, as holders of stock options or warrants in consideration for services as employees, officers or directors, as applicable), including, without limitation, any
material contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or employee or, to
the Company’s Knowledge, any entity in which any officer, director or any employee has a substantial interest or is an officer, director, trustee or partner. 
 (w) Sarbanes-Oxley Act. The Company is in compliance in all material respects with applicable requirements of the Sarbanes-Oxley Act of 2002 and applicable rules and regulations
promulgated by the Commission thereunder. 
 (x) Disclosure Controls and Procedures. The Company has
established and maintains disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) that are effective in all material respects to ensure that material information relating to the Company, including its
Subsidiaries, is made known to its chief executive officer and chief financial officer by others within those entities. The Company’s certifying officers have evaluated the effectiveness of the Company’s controls and procedures as of
December 31, 2009. The Company presented in its Annual Report on Form 10-K for the fiscal year ended December 31, 2009 the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures
based on their evaluations as of December 31, 2009. Since December 31, 2009, there have been no significant changes in the Company’s internal controls (as such term is defined in Item 307(b) of Regulation S-K under the
Exchange Act) or, to the Company’s Knowledge, in other factors that could significantly affect the Company’s internal controls, except as disclosed in the SEC Reports. 

 3.2 Representations and Warranties of the Purchasers. Each Purchaser hereby, for
itself and for no other Purchaser, represents and warrants as of the date hereof and as of the Closing Date in the case of the Purchasers listed on Annex A hereto to the Company as follows: 

(a) Organization; Authority. Such Purchaser is an entity duly organized, validly existing and in good standing under the laws
of the jurisdiction of its organization with the requisite corporate or partnership power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents to which it is a party and otherwise to carry out its
obligations hereunder and thereunder. The execution, delivery and performance by such Purchaser of the transactions contemplated by this Agreement have been duly authorized by all necessary corporate or, if such Purchaser is not a corporation, such
partnership, limited liability company or other applicable like action, on the part of such Purchaser. Each of this Agreement and the Registration Rights Agreement has been (or upon delivery will have been) duly executed by such Purchaser, and when
delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except as such enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.

 (b) No Conflicts. The execution, delivery and performance by such Purchaser of this Agreement and the
Registration Rights Agreement and the consummation by such Purchaser of the transactions contemplated hereby and thereby will not (i) result in a violation of the organizational documents of such Purchaser, (ii) conflict with, or
constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which such
Purchaser is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable to such Purchaser, except in the case of clauses (ii) and
(iii) above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of such Purchaser to perform its obligations hereunder.

 (c) Investment Intent. Such Purchaser understands that the Securities are “restricted securities” and
have not been registered under the Securities Act or any applicable state securities law and is acquiring the Securities and, upon exercise of the Warrants, will acquire the Warrant Shares issuable upon exercise thereof as principal for its own
account and not with a view to, or for distributing or reselling such Securities or any part thereof in violation of the Securities Act or any applicable state securities laws, provided, however, that by making the representations
herein, such Purchaser does not agree to hold any of the Securities for any minimum period of time and reserves the right, subject to the provisions of this Agreement and the Registration Rights Agreement, at all times to sell or otherwise dispose
of all or any part of such Securities, including, without limitation, the Warrant Shares, pursuant to an effective registration statement under the Securities Act or under an exemption from such registration and in compliance with applicable federal
and state securities laws. Such Purchaser is acquiring the Securities hereunder in the ordinary course of its business. Such Purchaser does not presently have any agreement, plan or understanding, directly or indirectly, with any Person to
distribute or effect any distribution of any of the Securities (or any securities which are derivatives thereof) to or through any person or entity; such Purchaser is not a registered broker-dealer under Section 15 of the Exchange Act or an
entity engaged in a business that would require it to be so registered as a broker-dealer. 

 (d) Purchaser Status. At the time such Purchaser was offered the Securities, it
was, and at the date hereof it is, and on each date on which it exercises the Warrants it will be, an “accredited investor” as defined in Rule 501(a) under the Securities Act. 

(e) General Solicitation. Such Purchaser is not purchasing the Securities as a result of any advertisement, article, notice
or other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general advertisement. 

(f) Experience of Such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge,
sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment. Such Purchaser is
able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment. 
 (g) Access to Information. Such Purchaser acknowledges that it has had the opportunity to review the Disclosure Materials and has been afforded (i) the opportunity to ask such questions
as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Securities and the merits and risks of investing in the Securities; (ii) access to information
about the Company and its respective financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information
that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. Neither such inquiries nor any other investigation conducted by or on behalf
of such Purchaser or its representatives or counsel shall modify, amend or affect such Purchaser’s right to rely on the truth, accuracy and completeness of the Disclosure Materials and the Company’s representations and warranties contained
in the Transaction Documents. Such Purchaser has sought such accounting, legal and tax advice as it has considered necessary to make an informed decision with respect to its acquisition of the Securities. 

(h) Certain Trading Activities. Other than with respect to the transactions contemplated herein, since the time that such
Purchaser was first contacted by the Company or any other Person regarding the transactions contemplated hereby, neither the Purchaser nor, to the knowledge of such Purchaser, any Affiliate of such Purchaser which (x) had knowledge of the
transactions contemplated hereby, (y) has knowledge or shares discretion relating to such Purchaser’s investments or trading or information concerning such Purchaser’s investments, including in respect of the Securities, and
(z) is subject to such Purchaser’s review or input concerning such Affiliate’s investments or trading (collectively, “Trading Affiliates”) has directly or indirectly, nor has any Person acting on behalf
of or pursuant to any understanding with such Purchaser or Trading Affiliate, effected or agreed to effect any transactions in the securities of the Company (including, without limitation, any Short Sales involving the Company’s securities).
Notwithstanding the foregoing, in the case of a Purchaser and/or Trading Affiliate that is, individually or collectively, a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Purchaser’s or
Trading Affiliate’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser’s or Trading Affiliate’s assets, the representation
set forth above shall apply only with respect to the portion of assets managed by the portfolio manager that have knowledge about the financing transaction contemplated by this Agreement. Other than to other Persons (a) party to this Agreement
or (b) advising such Purchaser in relation to the Transaction Documents and the transactions contemplated herein and therein, such Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction
(including the existence and terms of this transaction). 

 (i) Brokers and Finders. No Person will have, as a result of the transactions
contemplated by this Agreement, any valid right, interest or claim against or upon the Company or any Purchaser for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf of the
Purchaser. 
 (j) Independent Investment Decision. Such Purchaser has independently evaluated the merits of its
decision to purchase Securities pursuant to the Transaction Documents, and such Purchaser confirms that it has not relied on the advice of any other Purchaser’s business and/or legal counsel in making such decision. Such Purchaser understands
that nothing in this Agreement or any other materials presented by or on behalf of the Company to the Purchaser in connection with the purchase of the Securities constitutes legal, tax or investment advice. Such Purchaser has consulted such legal,
tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase of the Securities. 
 (k) Reliance on Exemptions. Such Purchaser understands that the Securities being offered and sold to it in reliance on specific exemptions from the registration requirements of United States
federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and such Purchaser’s compliance with, the representations, warranties, agreements, acknowledgements and understandings of such Purchaser
set forth herein in order to determine the availability of such exemptions and the eligibility of such Purchaser to acquire the Securities. 
 (l) No Governmental Review. Such Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed on or made any recommendation or
endorsement of the Securities or the fairness or suitability of the investment in the Securities nor have such authorities passed upon or endorsed the merits of the offering of the Securities. 

(m) Regulation M. Such Purchaser is aware that the anti-manipulation rules of Regulation M under the Exchange
Act may apply to sales of Common Stock and other activities with respect to the Common Stock by the Purchasers. 

 (n) Residency. Such Purchaser’s principal executive offices are in the
jurisdiction set forth immediately below such Purchaser’s name on the applicable signature page attached hereto. 

The Company and each of the Purchasers acknowledge and agree that no party to this Agreement has made or makes any representations or
warranties with respect to the transactions contemplated hereby other than those specifically set forth in this Article III and the Transaction Documents. 
 ARTICLE 4 
 OTHER AGREEMENTS OF THE PARTIES 

4.1 Transfer Restrictions. 
 (a) Compliance with Laws. Notwithstanding any other provision of this Article 4, each Purchaser covenants that the Securities may be disposed of only pursuant to an effective registration
statement under, and in compliance with the requirements of, the Securities Act, or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act, and in compliance with any
applicable state and federal securities laws. In connection with any transfer of the Securities other than (i) pursuant to an effective registration statement, (ii) to the Company, (iii) to an Affiliate of a Purchaser,
(iv) pursuant to Rule 144 (provided that the Purchaser provides the Company with reasonable assurances (in the form of seller and broker representation letters) that the securities may be sold pursuant to such rule) or
Rule 144A, (v) pursuant to Rule 144 without restriction following the applicable holding period or (vi) in connection with a bona fide pledge, the Company may require an opinion of counsel reasonably acceptable to the Company,
the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Securities under the Securities Act (the reasonable fees of such counsel to
be borne by the Company). As a condition of any such transfer, any such transferee shall agree in writing to be bound by the terms of this Agreement and shall have the rights of a Purchaser under this Agreement and the Registration Rights Agreement.

 (b) Legends. Certificates evidencing the Securities shall bear any legend as required by the “blue sky”
laws of any state and a restrictive legend in substantially the following form until such time as they are not required under Section 4.1(c) (and a stock transfer order may be placed against transfer of the certificates for the Securities
in violation of this Agreement): 
 THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED EXCEPT AS PROVIDED BY SECTION 4 OF THAT CERTAIN SECURITIES PURCHASE AGREEMENT, DATED
AS OF OCTOBER 13, 2010, BY AND AMONG WORLD HEART CORPORATION AND EACH PURCHASER IDENTIFIED ON THE SIGNATURE PAGES THERETO. 

 In addition, if any Purchaser is an Affiliate of the Company, certificates evidencing the
Securities issued to such Purchaser shall bear a customary “affiliates” legend. 
 (c) Removal of Legends.
The legend set forth in Section 4.1(b) above shall be removed and the Company shall issue a certificate without such legend or any other legend to the holder of the applicable Securities upon which it is stamped or issue the applicable
Securities without such a legend or any other legend to such holder by electronic delivery at the applicable balance account at DTC, if (i) such Securities are sold pursuant to an effective Registration Statement and the Purchaser has delivered
a signed and completed Purchaser’s Certificate of Subsequent Sale in substantially the form of Exhibit G attached hereto (the “Certificate of Sale” ) with respect to such Securities, (ii) such Securities
are sold or transferred pursuant to Rule 144 (if the transferor is not an Affiliate of the Company), or (iii) such Securities are eligible for sale under Rule 144 without restriction. Any fees (with respect to the Transfer Agent,
Company Counsel or otherwise) associated with the removal of such legend shall be borne by the Company. Following such time as a legend is no longer required for certain Securities, the Company will no later than three (3) Trading Days
following the delivery by a Purchaser to the Company or the Transfer Agent (with notice to the Company) of a legended certificate representing such Securities (endorsed or with stock powers attached, signatures guaranteed, and otherwise in form
necessary to affect the reissuance and/or transfer), deliver or cause to be delivered to the transferee of such Purchaser or such Purchaser, as applicable, a certificate representing such Securities that is free from all restrictive and other
legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Shares or Warrant Shares subject to legend
removal hereunder may be transmitted by the Transfer Agent to the Purchasers, as applicable, by crediting the account of the transferee’s Purchaser’s prime broker with DTC. If (1) a certificate representing the Shares or Warrant
Shares is not delivered to the Purchaser within three (3) Trading Days after receipt by the Company or the Transfer Agent of all documents necessary for the removal of the legend set forth above, including, but not limited to the signed and
completed Certificate of Sale and (2) prior to the time such certificate is received by the Purchaser, the Purchaser, or any third party on behalf of the Purchaser or for the Purchaser’s account, purchases (in an open market transaction or
otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Purchaser of shares represented by such certificate (a “Buy-In”), then the Company shall pay in cash to the Purchaser (for costs incurred either
directly by such Purchaser or on behalf of a third party) the amount by which the total purchase price paid for Common Stock as a result of the Buy-In (including brokerage commissions, if any) exceeds the proceeds received by such Purchase as a
result of the sale to which such Buy-In relates. The Purchaser shall provide the Company written notice indicating the amounts payable to the Purchaser in respect of the Buy-In. 

(d) Irrevocable Transfer Agent Instructions. The Company shall issue irrevocable instructions to its Transfer Agent, and any
subsequent transfer agent, in the form of Exhibit D attached hereto (the “Irrevocable Transfer Agent Instructions”). The Company represents and warrants that no instruction other than the Irrevocable Transfer
Agent Instructions or instructions consistent therewith will be given by the Company to its transfer agent in connection with this Agreement, and that the Securities shall otherwise be freely transferable on the books and records of the Company as
and to the extent provided in this Agreement, the other Transaction Documents and applicable law. The Company acknowledges that a breach by it of its obligations under this Section 4.1(d) will cause irreparable harm to a Purchaser.
Accordingly, the Company acknowledges that the remedy at law for a breach of its obligations under this Section 4.1(d) will be inadequate and agrees, in the event of a breach or threatened breach by the Company of the provisions of this
Section 4.1(d), that a Purchaser shall be entitled, in addition to all other available remedies, to an order and/or injunction restraining any breach and requiring immediate issuance and transfer, without the necessity of showing economic loss
and without any bond or other security being required. 

 (e) Acknowledgement. Each Purchaser hereunder acknowledges its primary
responsibilities under the Securities Act and accordingly will not sell or otherwise transfer the Warrants, Shares, the Warrant Shares or any interest therein without complying with the requirements of the Securities Act. While the Registration
Statement remains effective, each Purchaser hereunder may sell the Shares and Warrant Shares in accordance with the plan of distribution contained in the Registration Statement and, if it does so, it will comply therewith and with the related
prospectus delivery requirements unless an exemption therefrom is available. Each Purchaser, severally and not jointly with the other Purchasers, agrees that if it is notified by the Company in writing at any time that the Registration Statement
registering the resale of the Shares or the Warrant Shares is not effective or that the prospectus included in such Registration Statement no longer complies with the requirements of Section 10 of the Securities Act, the Purchaser will refrain
from selling such Shares and Warrant Shares until such time as the Purchaser is notified by the Company that such Registration Statement is effective or such prospectus is compliant with Section 10 of the Securities Act, unless such Purchaser
is able to, and does, sell such Shares or Warrant Shares pursuant to an available exemption from the registration requirements of Section 5 of the Securities Act. 
 4.2 Reservation of Common Stock. The Company shall take all action necessary to at all times have authorized, and reserved for the purpose of issuance from and after the Closing Date, no less
than the maximum number of shares of Common Stock issuable upon exercise of the Warrants issued at the Closing. On the Closing Date, the Company will notify the Transfer Agent of the reservation of the Warrant Shares as required by this
Section 4.2. 
 4.3 Furnishing of Information. In order to enable the Purchasers to sell the Securities under
Rule 144 of the Securities Act, for a period of one (1) year from the Closing Date, the Company shall use its commercially reasonable efforts to timely file (or obtain extensions in respect thereof and file within the applicable grace
period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act. During such one (1) year period, if the Company is not required to file reports pursuant to such laws, it will prepare and furnish to
the Purchasers and make publicly available in accordance with Rule 144(c) such information as is required for the Purchasers to sell the Securities under Rule 144. 

4.4 Form D and Blue Sky. The Company agrees to timely file a Form D with respect to the Securities as required
under Regulation D and to provide a copy thereof to each Purchaser who requests a copy in writing promptly after such filing. The Company, on or before the Closing Date, shall take such action as the Company shall reasonably determine is
necessary in order to obtain an exemption for or to qualify the Securities for sale to the Purchasers at the Closing pursuant to this Agreement under applicable securities or “Blue Sky” laws of the states of the United States (or to obtain
an exemption from such qualification), and shall provide evidence of any such action so taken to the Purchasers who request in writing such evidence on or prior to the Closing Date. The Company shall make all filings and reports relating to the
offer and sale of the Securities required under applicable securities or “Blue Sky” laws of the states of the United States following the Closing Date. 

 4.5 No Integration. The Company shall not, and shall use its commercially
reasonable efforts to ensure that no Affiliate of the Company shall, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that will be integrated with
the offer or sale of the Securities in a manner that would require the registration under the Securities Act of the sale of the Securities to the Purchasers, or that will be integrated or aggregated with the offer or sale of the Securities for
purposes of the rules and regulations of any Trading Market such that it would require stockholder approval prior to the closing of such other transaction unless stockholder approval is obtained before the closing of such subsequent
transaction. 
 4.6 Listing of Securities. In the time and manner required by the Principal Trading Market, the
Company shall prepare and file with such Trading Market an additional shares listing application covering all of the Shares and Warrant Shares and shall use its commercially reasonable efforts to take all steps necessary to maintain, so long as any
other shares of Common Stock shall be so listed, such listing. 
 4.7 Use of Proceeds. The Company intends to use
the net proceeds from the sale of the Securities hereunder for working capital and general corporate purposes. 

4.8 Dispositions and Confidentiality After The Date Hereof. Each Purchaser covenants that neither it nor any Person acting on
its behalf or pursuant to any understanding with it will engage in any transactions in the Company’s securities (including, without limitation, any Short Sales involving the Company’s securities) during the period from the date hereof
until the earlier of such time as (i) the transactions contemplated by this Agreement are first publicly announced or (ii) this Agreement is terminated in full pursuant to Section 6.17. Notwithstanding the foregoing, in the case of a
Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio
managers managing other portions of such Purchaser’s assets, the representation set forth above shall apply only with respect to the portion of assets managed by the portfolio managers that have knowledge about the financing transaction
contemplated by this Agreement. Each Purchaser understands and acknowledges, severally and not jointly with any other Purchaser, that the Commission currently takes the position that covering a short position established prior to effectiveness of a
resale registration statement with shares included in such registration statement would be a violation of Section 5 of the Securities Act, as set forth in Item 65, Section 5 under Section A, of the Manual of Publicly Available
Telephone Interpretations, dated July 1997, compiled by the Office of Chief Counsel, Division of Corporation Finance. 

  
 ARTICLE 5

 CONDITIONS PRECEDENT TO CLOSING 
 5.1 Conditions Precedent to the Obligations of the Purchasers to Purchase Securities at the Closing. The obligation of each Purchaser listed on Annex A hereto to acquire Securities at the
Closing is subject to the fulfillment to such Purchaser’s satisfaction, on or prior to the Closing Date, of each of the following conditions, any of which may be waived by such Purchaser (as to itself only): 

(a) Representations and Warranties. The representations and warranties of the Company contained herein shall be true and
correct in all material respects (except for those representations and warranties which are qualified as to materiality, in which case such representations and warranties shall be true and correct in all respects) as of the date of this Agreement
and as of the Closing Date, as though made on and as of the Closing Date, except for such representations and warranties that speak as of a specific date. 
 (b) Performance. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by the Transaction Documents to be
performed, satisfied or complied with by it at or prior to the Closing. 
 (c) No Injunction. No statute, rule,
regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions
contemplated by the Transaction Documents. 
 (d) Consents. The Company shall have obtained in a timely fashion any
and all consents, permits, approvals, registrations and waivers necessary for consummation of the purchase, sale and issuance of the Securities at the Closing (including all Required Approvals), all of which shall be and remain so long as necessary
in full force and effect. The Company shall have filed with the Principal Trading Market an additional shares listing application covering all of the Shares and the Warrants Shares. 

(e) No Suspensions of Trading in Common Stock; Listing. The Common Stock (i) shall be designated for quotation or listed
on the Principal Trading Market and (ii) shall not have been suspended, as of the Closing Date, by the Commission or the Principal Trading Market from trading on the Principal Trading Market. 

(f) Company Deliverables. The Company shall have delivered the Company Deliverables in accordance with
Section 2.2(a). 
 (g) Compliance Certificate. The Company shall have delivered to each Purchaser a
certificate, dated as of the Closing Date and signed by its Chief Executive Officer or its Chief Financial Officer, dated as of the Closing Date, certifying to the fulfillment of the conditions specified in Sections 5.1(a), (b) and
(d) in the form attached hereto as Exhibit F. 
 (h) Termination. This Agreement shall not have
been terminated as to any Purchaser in accordance with Section 6.17 herein, and the Company shall have received aggregate proceeds at the Closing of not less than Twenty-Five Million Dollars ($25,000,000). 

(i) Legal Opinion. The Purchasers shall have received an opinion of Company Counsel to the Company in a customary form
reasonably acceptable to the Purchasers. 

 5.2 Conditions Precedent to the Obligations of the Company to sell Securities at the
Closing. The Company’s obligation to sell and issue the Securities to each Purchaser listed on Annex A hereto at the Closing is subject to the fulfillment to the satisfaction of the Company on or prior to the Closing Date of the following
conditions, any of which may be waived by the Company: 
 (a) Representations and Warranties. The representations
and warranties made by such Purchaser in Section 3.2 hereof shall be true and correct in all material respects as of the date of this Agreement, and as of the Closing Date as though made on and as of the Closing Date, except for representations
and warranties that speak as of a specific date. 
 (b) Performance. Such Purchaser shall have performed, satisfied
and complied in all material respects with all covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by such Purchaser at or prior to the Closing Date. 

(c) No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated by the Transaction Documents. 

(d) Consents. The Company shall have obtained in a timely fashion any and all consents, permits, approvals, registrations and
waivers necessary for consummation of the purchase and sale of the Securities, all of which shall be and remain so long as necessary in full force and effect, provided that the Company shall use best efforts to obtain in a timely fashion any and all
such consents, permits, approvals, registrations and waivers. 
 (e) Purchasers Deliverables. Such Purchaser shall
have delivered its Purchaser Deliverables in accordance with Section 2.2(b). 
 (f) Termination. This Agreement
shall not have been terminated as to such Purchaser in accordance with Section 6.17 herein. 
 ARTICLE 6

 MISCELLANEOUS 
 6.1 Fees and Expenses. Except as set forth in this Section 6.1, the Company and the Purchasers shall each pay the fees and expenses of their respective advisers, counsel, accountants and
other experts, if any, and all other expenses incurred by such party in connection with the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all Transfer Agent fees, stamp taxes and other taxes
and duties levied. 
 6.2 Entire Agreement. The Transaction Documents, together with the Exhibits and Schedules
thereto, contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements, understandings, discussions and representations, oral or written, with respect to such matters, which the parties
acknowledge have been merged into such documents, exhibits and schedules. At or after the Closing, and without further consideration, the Company and the Purchasers will execute and deliver to the other such further documents as may be reasonably
requested in order to give practical effect to the intention of the parties under the Transaction Documents. 

  

6.3 Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be
in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile (provided the sender receives a machine-generated confirmation of successful
transmission) at the facsimile number specified in this Section prior to 5:00 p.m., New York City time, on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via
facsimile at the facsimile number specified in this Section on a day that is not a Trading Day or later than 5:00 p.m., New York City time, on any Trading Day, (c) the Trading Day following the date of mailing, if sent by U.S.
nationally recognized overnight courier service with next day delivery specified, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as follows:

  

			
	If to the Company:	  	 World Heart Corporation

4750 Wiley Post Way, Suite 120
 Salt Lake
City, UT 84116
 Telephone No.: (801) 303-4361
 Facsimile No.: (801) 355-7622
 Attention: Morgan R. Brown

		
	With a copy to:	  	 Cooley LLP
 3175 Hanover
Street
 Palo Alto, California 94304-1130

Telephone No.: (650) 843-5180
 Facsimile
No.: (650) 849-7400
 Attention: Mark Weeks

		
	If to a Purchaser:	  	To the address set forth under such Purchaser’s name on the signature page hereof;
		
		  	or such other address as may be designated in writing hereafter, in the same manner, by such Person.

 With a copy to: 
 6.4 Amendments; Waivers; No Additional
Consideration. No provision of this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment, by the Company and the Purchasers holding or having the right to acquire a majority of the Shares and the
Warrant Shares on a fully-diluted basis at the time of such amendment or, in the case of a waiver, by the party against whom enforcement of any such waiver is sought. No waiver of any default with respect to any provision, condition or requirement
of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to exercise any
right hereunder in any manner impair the exercise of any such right. No consideration shall be offered or paid to any Purchaser to amend or consent to a waiver or modification of any provision of any Transaction Document unless the same
consideration is also offered to all Purchasers who then hold Securities. 

  

6.5 Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be
deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any
party. This Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement or any of the
Transaction Documents. 
 6.6 Successors and Assigns. The provisions of this Agreement shall inure to the benefit of
and be binding upon the parties and their successors and permitted assigns. This Agreement, or any rights or obligations hereunder, may not be assigned by the Company without the prior written consent of the Purchasers. Any Purchaser may assign its
rights hereunder in whole or in part to any Person to whom such Purchaser assigns or transfers any Securities in compliance with the Transaction Documents and applicable law, provided such transferee shall agree in writing to be bound, with respect
to the transferred Securities, by the terms and conditions of this Agreement that apply to the “Purchasers”. 
 6.7 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may
any provision hereof be enforced by, any other Person. 
 6.8 Governing Law. All questions concerning the
construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof.
Each party agrees that all Proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective
Affiliates, employees or agents) shall be commenced exclusively in the New York Courts. Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection
herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any Proceeding, any claim that it is
not personally subject to the jurisdiction of any such New York Court, or that such Proceeding has been commenced in an improper or inconvenient forum. Each party hereto hereby irrevocably waives personal service of process and consents to process
being served in any such Proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such
service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HERETO HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

 6.9 Survival. The representations and warranties contained herein shall survive
the Closing and the delivery of the Securities for a period of one (1) year from the Closing Date. The agreements and covenants contained herein shall survive for the applicable statute of limitations. 

6.10 Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be
considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any
signature is delivered by facsimile transmission, or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile signature page were an original thereof. 

6.11 Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and
enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and
upon so agreeing, shall incorporate such substitute provision in this Agreement. 
 6.12 Replacement of Securities.
If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution
therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company and the Transfer Agent of such loss, theft or destruction and the execution by the holder thereof of a customary lost certificate
affidavit of that fact and an agreement to indemnify and hold harmless the Company and the Transfer Agent for any losses in connection therewith or, if required by the Transfer Agent, a bond in such form and amount as is required by the Transfer
Agent. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement Securities. If a replacement certificate or instrument evidencing any
Securities is requested due to a mutilation thereof, the Company may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement. 

6.13 Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of
damages, each of the Purchasers and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of
obligations described in the foregoing sentence and hereby agree to waive in any action for specific performance of any such obligation (other than in connection with any action for a temporary restraining order) the defense that a remedy at law
would be adequate. 

  
 6.14 Payment
Set Aside. To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction Document or a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such
enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, by a trustee,
receiver or any other person under any law (including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally
intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred. 
 6.15 Adjustments in Share Numbers and Prices. In the event of any stock split, subdivision, dividend or distribution payable in shares of Common Stock (or other securities or rights
convertible into, or entitling the holder thereof to receive directly or indirectly shares of Common Stock), combination or other similar recapitalization or event occurring after the date hereof, each reference in any Transaction Document to a
number of shares or a price per share shall be deemed to be amended to appropriately account for such event. 

6.16 Independent Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction
Document are several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance of the obligations of any other Purchaser under any Transaction Document. The decision of each
Purchaser to purchase Securities pursuant to the Transaction Documents has been made by such Purchaser independently of any other Purchaser and independently of any information, materials, statements or opinions as to the business, affairs,
operations, assets, properties, liabilities, results of operations, condition (financial or otherwise) or prospects of the Company which may have been made or given by any other Purchaser or by any agent or employee of any other Purchaser, and no
Purchaser and any of its agents or employees shall have any liability to any other Purchaser (or any other Person) relating to or arising from any such information, materials, statement or opinions. Nothing contained herein or in any Transaction
Document, and no action taken by any Purchaser pursuant thereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way
acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Documents. Each Purchaser acknowledges that no other Purchaser has acted as agent for such Purchaser in connection with making its
investment hereunder and that no Purchaser will be acting as agent of such Purchaser in connection with monitoring its investment in the Securities or enforcing its rights under the Transaction Documents. Each Purchaser shall be entitled to
independently protect and enforce its rights, including without limitation the rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party
in any proceeding for such purpose. The Company acknowledges that each of the Purchasers has been provided with the same Transaction Documents for the purpose of closing a transaction with multiple Purchasers and not because it was required or
requested to do so by any Purchaser. The Company’s obligations to each Purchaser under this Agreement are identical to its obligations to each other Purchaser other than such differences resulting solely from the number of Securities purchased
by such Purchaser, but regardless of whether such obligations are memorialized herein or in another agreement between the Company and a Purchaser. 

  

6.17 Termination. This Agreement may be terminated and the sale and purchase of the Shares and the Warrants abandoned at any
time prior to the Closing by either the Company or any Purchaser listed on Annex A hereto (with respect to itself only), upon written notice to the other, if the Closing has not been consummated on or prior to 5:00 p.m., New York City time, on
the Outside Date; provided, however, that the right to terminate this Agreement under this Section 6.17 shall not be available to any Person whose failure to comply with its obligations under this Agreement has been the cause of or
resulted in the failure of the Closing to occur on or before such time. Nothing in this Section 6.17 shall be deemed to release any party from any liability for any breach by such party of the terms and provisions of this Agreement or the other
Transaction Documents or to impair the right of any party to compel specific performance by any other party of its obligations under this Agreement or the other Transaction Documents. In the event of a termination pursuant to this Section, the
Company shall promptly notify all non-terminating Purchasers. Upon a termination in accordance with this Section, the Company and the terminating Purchaser(s) shall not have any further obligation or liability (including arising from such
termination) to the other, and no Purchaser will have any liability to any other Purchaser under the Transaction Documents as a result therefrom. 
 6.18 Rescission and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) the Transaction Documents, whenever any
Purchaser exercises a right, election, demand or option owed to such Purchaser by the Company under a Transaction Document and the Company does not timely perform its related obligations within the periods therein provided, then, prior to the
performance by the Company of the Company’s related obligation, such Purchaser may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part
without prejudice to its future actions and rights. 
 6.19 Conflict Waiver. Each party to this
Agreement acknowledges that Cooley LLP (“Cooley”), outside general counsel to the Company, has in the past performed and is or may now or in the future represent one or more Purchasers or their affiliates in matters unrelated
to the transactions contemplated by this Agreement (the “Financing”), including representation of such Purchasers or their affiliates in matters of a similar nature to the Financing. The applicable rules of
professional conduct require that Cooley inform the parties hereunder of this representation and obtain their consent. Cooley has served as outside general counsel to the Company and has negotiated the terms of the Financing solely on behalf of
the Company. The Company and each Purchaser hereby (a) acknowledge that they have had an opportunity to ask for and have obtained information relevant to such representation, including disclosure of the reasonably foreseeable adverse
consequences of such representation; (b) acknowledge that with respect to the Financing, Cooley has represented solely the Company, and not any Purchaser or any stockholder, director or employee of the Company or any Purchaser; and
(c) gives its informed consent to Cooley’s representation of the Company in the Financing. 

  
 IN WITNESS WHEREOF,
the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above. 

 

			
	WORLD HEART CORPORATION
		
	By:	 	 /s/ Morgan R. Brown

	Name:	 	Morgan R. Brown
	Title:	 	Chief Financial Officer

  
 
			
	 NAME OF PURCHASER: Austin Marxe

		
	 By:
	 	 /s/ Austin Marxe

	 Name: Austin Marxe

	
	 Aggregate Purchase Price (Subscription Amount):
 $999,999.84

	
	 Number of Shares to be Acquired: 468,384

	
	 Underlying Shares Subject to Warrants: 468,384
(the number of Shares to
be acquired)

	
	 Tax ID No.:
                

	
	 Address for Notice:

	
	 Special Situations Fund III QP, L.P.

	 527 Madison Avenue, Suite 2600

	 New York, New York 10022

	
	 Telephone No.: 212-319-6670

	
	 Email: Austin@ssf.com

	
	 Attention: Austin Marxe / Marianne Kelly

 

			
	
	 Delivery Instructions:

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	 c/o
	 	  

			
		
	 Street:
	 	  

			
		
	 City/State/Zip:
	 	  

			
		
	 Attention:
	 	  

			
		
	 Telephone No.:
	 	  

  
 
			
	 NAME OF PURCHASER: David Greenhouse

		
	 By:
	 	 /s/ David Greenhouse

	 Name: David Greenhouse

	
	 Aggregate Purchase Price (Subscription Amount):
 $256,200

	
	 Number of Shares to be Acquired: 120,000

	
	 Underlying Shares Subject to Warrants: 120,000
(the number of Shares to
be acquired)

	
	 Tax ID No.:             

	
	 Address for Notice:

	
	 c/o Special Situations Funds

	 527 Madison Avenue, Suite 2600

	 New York, New York 10022

	
	 Telephone No.: 212-319-6625

	
	 Email: david@ssffund.com

	
	 Attention: David Greenhouse

 

			
	
	 Delivery Instructions:

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	 City/State/Zip:
	 	  

			
		
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NAME OF PURCHASER:   Special Situations Fund III OP , L.P.

		
	 By:
	 	 /s/ David Greenhouse

	 Name: David Greenhouse

	 Title: Managing Director

	
	 Aggregate Purchase Price (Subscription Amount):
 $1,160,001.01

	
	 Number of Shares to be Acquired: 543,326

	
	 Underlying Shares Subject to Warrants: 543,326
(the number of Shares to
be acquired)

	
	 Tax ID No.: 13-3737427

	
	 Address for Notice:

	
	 527 Madison Avenue, Suite 2600

	 New York, New York 10022

	
	 Telephone No.: 212-319-6625

	
	 Email: Marianne@ssf.com

	
	 Attention: David Greenhouse / Marianne Kelly

 

			
	
	 (if different than above)

			
		
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	 City/State/Zip:
	 	  

			
		
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NAME OF PURCHASER:    Special Situations Cayman Fund, L.P.

		
	 By:
	 	 /s/ David Greenhouse

	 Name: David Greenhouse

	 Title: Managing Director

	
	 Aggregate Purchase Price (Subscription Amount):
 $419,999.34

	
	Number of Shares to be Acquired: 196,721
	
	 Underlying Shares Subject to Warrants: 196,721
(the number of Shares to be acquired)

	
	Tax ID No.: 98-0132442
	
	Address for Notice:
	
	527 Madison Avenue, Suite 2600
	New York, New York 10022
	
	Telephone No.: 212-319-6625
	
	Email: Marianne@ssf.com
	
	Attention: David Greenhouse / Marianne Kelly

			
	
	 (if different than above)

			
		
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	NAME OF PURCHASER:	 	Special Situations Private Equity Fund, L.P.

			
		
	By:	 	 /s/ David Greenhouse

	Name: David Greenhouse
	Title: Managing Director
	
	Aggregate Purchase Price (Subscription Amount):
	$419,999.34
	
	Number of Shares to be Acquired: 196,721
	
	 Underlying Shares Subject to Warrants: 196,721
(the number of Shares to be acquired)

	
	Tax ID No.: 13-3916551
	
	Address for Notice:
	
	527 Madison Avenue, Suite 2600
	New York, New York 10022
	
	Telephone No.: 212-319-6625
	
	Email: Marianne@ssf.com
	
	Attention: David Greenhouse / Marianne Kelly

  

			
	
	(if different than above)

			
		
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	 Street:
	 	
 

			
		
	 City/State/Zip:
	 	
 

			
		
	 Attention:
	 	
 

			
		
	 Telephone No.:
	 	  

  
 
			
	NAME OF PURCHASER: Special Situations Life Sciences Fund,
L.P.

			
		
	By:	 	 /s/ David
Greenhouse

			
	Name:	 	David Greenhouse
	Title:	 	Managing Director
	
	 Aggregate Purchase Price (Subscription Amount):
 $1,999,796.86

	
	Number of Shares to be Acquired: 936,673
	
	 Underlying Shares Subject to Warrants: 936,673
(the number of Shares to be acquired)

	
	Tax ID No.: 56-2514790
	
	Address for Notice:
	
	 527 Madison Avenue, Suite 2600
 New York, New York 10022

	
	Telephone No.: 212-319-6625
	
	Email: Marianne@ssf.com
	
	Attention: David Greenhouse / Marianne Kelly

  

			
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	NAME OF PURCHASER:	 	VENROCK ASSOCIATES V, L.P.
		 		 	By: Venrock Management V, LLC
		 		 	Its: General Partner
		
	By:	 	 /s/ David L. Stepp

	Name:  David L. Stepp
	Title:  Authorized Signatory
	
	 Aggregate Purchase Price (Subscription Amount):
 $4,060,349.41

	
	Number of Shares to be Acquired: 1,901,803
	
	Underlying Shares Subject to Warrants: 1,901,803
  (the number of Shares to be acquired)
		
	Tax ID No: 41-2236453	 	
		
	Address for Notice:	 	
		
	c/o David L. Stepp	 	
	3340 HIllview Avenue	 	
	Palo Alto, CA 94304	 	
	
	Telephone No.: 650-561-9580
		
	Fax: 650-561-9180	 	
	
	Email: dstepp@venrock.com
		
	Attention: David L. Stepp	 	

  

			
	
	 Delivery Instructions:
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	Street:	 	  

			
		
	City/State/Zip:	 	  

			
		
	Attention:	 	  

  
 
			
	NAME OF PURCHASER: VENROCK PARTNERS V, L.P.
		 	                              
      By: Venrock Management V, LLC
		 	                              
      Its: General Partner
		
	By:	 	 /s/ David L. Stepp

	Name:	 	David L. Stepp
	Title:	 	Authorized Signatory
	
	 Aggregate Purchase Price (Subscription Amount):
 $344,249.54

	
	Number of Shares to be Acquired: 161,241
	
	 Underlying Shares Subject to Warrants: 161,241
(the number of Shares to be acquired)

	
	Tax ID No. 20-8536996
	
	Address for Notice:
	
	c/o David L. Stepp
	3340 HIllview Avenue
	Palo Alto, CA 94304
	
	Telephone No.: 650-561-9580
	
	Fax: 650-561-9180
	
	Email: dstepp@venrock.com
	
	Attention: David L. Stepp

  

			
	 Delivery Instructions:
 (if different than above)

		
	c/o	 	  

		
	Street:	 	  

			
		
	City/State/Zip:	 	  

			
		
	Attention:	 	  

  
 
									
	NAME OF PURCHASER:	 	 VENROCK ENTREPRENEURS FUND
  V, L.P.

		 		 		 	 By: VEF Management V, LLC
		 		 		 	 Its: General Partner
		
	By:	 	 /s/ David L. Stepp

	Name:	 	David L. Stepp
	Title:	 	Authorized Signatory
	
	Aggregate Purchase Price (Subscription Amount):
	$95,400.34	 	
	
	Number of Shares to be Acquired: 44,684
	
	Underlying Shares Subject to Warrants: 44,684
	    (the number of Shares to be acquired)
	
	Tax ID No: 20-8536980
	
	Address for Notice:
	
	c/o David L. Stepp
	3340 HIllview Avenue
	Palo Alto, CA 94304
	
	Telephone No.: 650-561-9580
	
	Fax: 650-561-9180
	
	Email: dstepp@venrock.com
	
	Attention: David L. Stepp

  

							
	Delivery Instructions:
	(if different than above)
		
	c/o	 	  

							
		
	Street:	 	  

							
		
	City/State/Zip:	 	  

							
		
	Attention:	 	  

  
 
			
	NAME OF PURCHASER: NEW LEAF VENTURES II, L.P.
		
	By:	 	New Leaf Venture Associates II, L.P.
	Its:	 	General Partner
		
	By:	 	New Leaf Venture Management II, L.L.C.
	Its:	 	General Partner
		
	By:	 	 /s/ Craig L.
Slutzkin

			
	Name:	 	Craig L. Slutzkin
	Title:	 	Chief Financial Officer
	
	Aggregate Purchase Price (Subscription Amount): $4,999,999.20
	
	Number of Shares to be Acquired: 2,341,920
	
	 Underlying Shares Subject to Warrants: 2,341,920
(the number of Shares to be acquired)

	
	Tax ID No.: _32-0214549
	
	Address for Notice:
	
	7 Times Square, Suite 3502
	
	New York, NY 10036
	
	Attention: Craig L. Slutzkin
	
	Telephone No.: 646-871-6400
	
	Email: craig@nlvpartners.com

  

			
	 Delivery Instructions:
 (if different than above)

		
	c/o	 	  

			
		
	Street:	 	  

			
		
	City/State/Zip:	 	  

			
		
	Attention:	 	  

			
		
	Telephone No.:	 	  

  
 
			
	 NAME OF PURCHASER:  Oppenheim Asset Management

                         
                      Services S.ar.l. on behalf of
                                   
             FCPOP Medical BioHe@lth-Trends

		
	By:	 	 /s/ Julia Brauckmann

		 	Julia Brauckmann
		 	Title: Vice President
		
	By:	 	 /s/ Helene Braun

		 	Helene Braun
		 	Title: Senior Assoicate
	
	Aggregate Purchase Price (Subscription Amount):
	$749,854.70
	
	Number of Shares to be Acquired: 351,220
	
	 Underlying Shares Subject to Warrants: 351,220
(the number of Shares to be acquired)

	
	Tax ID No.: LU20197837
	
	Address for Notice:
	
	 Oppenheim Asset Management Services S.ar.l.
 4 rue Jean Monnet

	L-2180 Luxembourg
	
	Telephone No.: 00352 22 15 22 1
	
	Email: OPAMPre-Trade-KontrolleIM@oppenheim.lu
	
	Attention: Investment Management

 

			
	 Delivery Instructions:
 (if different than above)

	
	c/o Brown Brothers Harriman (Luxembourg) S.C.A.
	Street: 2-8 Avenue Charles de Gaulle
	City/State/Zip: B.P. 403; L-2014 Luxembourg
	Attention: Linda Tessin
	Telephone No.: 00352 474 066 6665

  
 
			
	 NAME OF PURCHASER: THE OSGOOD FAMILY

	
                   
                           TRUST UAD 4/14/2000

		
	 By:	 	 /s/ Richard H.
Osgood

			
	Name:	 	Richard H. Osgood
	Title:	 	Richard H. Osgood, Trustee
	
	 Aggregate Purchase Price (Subscription Amount):

	 $99,918.00

	
	 Number of Shares to be Acquired: 46,800

	
	 Underlying Shares Subject to Warrants: 46,800

  (the number of Shares to be acquired)

	
	 Tax ID No.: ###-##-####

	
	 Address for Notice:

	
	 One Bush Street #1700

	 San Francisco, CA 94104

	
	 Telephone No.: 415-274-6833

	
	 Email: rick.osgood@wedbush.com

	
	 Attention: Vinnie Devone

 

			
	 Delivery Instructions:

	 (if different than above)

			
		
	 c/o
	 	  

			
		
	 Street:
	 	  

			
		
	 City/State/Zip:
	 	  

			
		
	 Attention:
	 	  

			
		
	 Telephone No.:
	 	  

  
 
			
	NAME OF PURCHASER:     Zeke, LP
		
	By:	 	 /s/ Edward N.
Antoian

			
	Name:	 	Edward N. Antoian

			
	Title:	 	Zeke, LP-6P
	
	Aggregate Purchase Price (Subscription Amount):
	$500,017.00
	
	Number of Shares to be Acquired: 234,200
	
	Underlying Shares Subject to Warrants: 234,200
	    (the number of Shares to be acquired)
	
	Tax ID No.: 23-2910350
	
	Address for Notice:
	
	c/o Chartwell Inv. Partners
	1235 Westlakes Drive, Ste 400
	Berwyn, PA 19312
	
	Telephone No.: 610-407-4829
	
	Email: antoian@chartwellip.com
	
	Attention: Ed Antoian

  

			
	
	 Delivery Instructions:

(if different than above)

			
		
	c/o	 	
 

			
		
	 Street:
	 	
 

			
		
	 City/State/Zip:
	 	
 

			
		
	 Attention:
	 	
 

			
		
	 Telephone No.:
	 	  

  
 
			
	NAME OF PURCHASER: Medical Strategy GmbH for Pharma/Whealth Management Company S.A. on behalf of Pharma/wHealth
		
	By:	 	 /s/ Harold Schwartz

	Name:	 	      Harold Schwartz
	Title:	 	      General Manager
		
	By:	 	 /s/ Stefan Kraft

	Name:	 	      Stefan Kraft
	Title:	 	      Analyst
	
	Aggregate Purchase Price (Subscription Amount):
	$149,983.75
	
	Number of Shares to be Acquired: 70,250
	
	Underlying Shares Subject to Warrants: 70,250
	    (the number of Shares to be acquired)
	
	Tax ID No.: LU21822485
	
	Address for Notice:
	
	Pharma/Whealth Management Company S.A.
	4 rue Jean Monnet
	L-2180 Luxembourg
	
	Telephone No.: 00352 22 15 22 1
	
	Email: OPAMPre-Trade-KontrolleIM@oppenheim.lu
	
	Attention:    Investment Management

 

	
	Delivery Instructions:
	(if different than above)
	
	c/o Brown Brothers Harriman (Luxembourg) S.C.A.
	Street:    2-8 Avenue Charles de Gaulle
	City/State/Zip:    B.P. 403; L-2014 Luxembourg
	Attention:    Linda Tessin
	Telephone No.:    00352 474 066 6665

  
 
			
	NAME OF PURCHASER: Arthur J. Remillard Jr. Trust
		
	 By:
	 	 /s/ Stephen Du
Bois

			
	 Name:
	 	 Stephen Du Bois
	 Title:
	 	 Managing Member of Investment Manager
	
	Aggregate Purchase Price (Subscription Amount):
	$211,051.16
	  
 Number of Shares to be Acquired:
98,853

	  
 Underlying Shares Subject to Warrants:
98,853

	    (the number of Shares to be acquired)
	  
 Tax ID No.:
                    

	  
 Address for Notice:

	
	101 Huntington Avenue
	Suite 2550
	Boston, MA 02199
	  
 Telephone No.: 617-717-6605

	  
 Email:
sgeorge@cambercapital.com

	  
 Attention: Sean
George

  

			
	Delivery Instructions:	 	
	 (if different than above)
  

c/o Goldman Sachs
	 	
	Street: 30 Hudson Street, 4rth Floor	 	
	City/State/Zip: Jersey City, NJ	 	
	Attention: Diti Patel	 	
	Telephone No.: 212-934-3933	 	

  
 
			
	NAME OF PURCHASER: Ayer Capital Partners Master Fund, L.P.
		
	 By:
	 	 /s/ Jay
Venkatesan

			
	 Name:
	 	Jay Venkatesan
	 Title:
	 	Managing Member
	
	Aggregate Purchase Price (Subscription Amount): $1,772,538.92
	
	Number of Shares to be Acquired: 830,229
	
	Underlying Shares Subject to Warrants: 830,229
	    (the number of Shares to be acquired)
	
	Tax ID No.: 98-058-0035
	
	Address for Notice:
	230 California Street
	Suite 600
	San Francisco, CA 94111
	
	Telephone No.: 415-874-4800
	
	Facsimile No.: 415-520-6826
	
	Email: tmg@ayercapital.com
	
	Attention: Tom Glaser

  

	
	Delivery Instructions:
	 (if different than above)

	
	 c/o Morgan Stanley

	 Street: 901 South Bond Street

	 City/State/Zip: Baltimore, MD 21231

	 Attention: Alicia Alvez/ Deborah Mullin

	 Telephone No.: 410-534-1582

  
 
			
	NAME OF PURCHASER: Ayer Capital Partners Kestrel Fund, LP
		
	By:	 	 /s/ Jay
Venkatesan

			
	Name:	 	Jay Venkatesan
	Title:	 	Managing Member
	
	 Aggregate Purchase Price (Subscription Amount):
 $60,819.75

	
	Number of Shares to be Acquired: 28,487
	
	Underlying Shares Subject to Warrants: 28,487
	    (the number of Shares to be acquired)
	
	Tax ID No.: 98-058-0035
	
	Address for Notice:
	230 California Street
	Suite 600
	San Francisco, CA 94111
	
	Telephone No.: 415-874-4800
	
	Facsimile No.: 415-520-6826
	
	Email: tmg@ayercapital.com
	
	Attention: Tom Glaser

  

	
	 Delivery Instructions:
 (if
different than above)

	
	 c/o Morgan Stanley

	 Street: 901 South Bond Street

	 City/State/Zip: Baltimore, MD 21231

	 Attention: Alicia Alvez/ Deborah Mullin

	 Telephone No.: 410-534-1582

  
 
			
	NAME OF PURCHASER: Camber Capital Fund II, LP
		
	By:	 	 /s/ Stephen Du
Bois

			
	Name:	 	Stephen Du Bois
	Title:	 	Managing Member of Investment Manager
	
	 Aggregate Purchase Price (Subscription Amount):
 $80,150.04

	
	Number of Shares to be Acquired: 37,541
	
	Underlying Shares Subject to Warrants: 37,541
	    (the number of Shares to be acquired)
	
	Tax ID No.: 26-3439761
	
	Address for Notice:
	
	101 Huntington Avenue
	Suite 2550
	Boston, MA 02199
	
	Telephone No.: 617-717-6605
	
	Email: sgeorge@cambercapital.com
	
	Attention: Sean George

  

	
	 Delivery Instructions:

(if different than above)

	
	 c/o Goldman Sachs

	 Street: 30 Hudson Street, 4rth Floor

	 City/State/Zip: Jersey City, NJ

	 Attention: Diti Patel

	 Telephone No.: 212-934-3933

  
 
			
	NAME OF PURCHASER: Camber Capital Master Fund, LP

			
		
	By:	 	/s/ Stephen Du Bois

			
	Name:	 	Stephen Du Bois
	Title:	 	Managing Member of Investment Manager

			
	
	Aggregate Purchase Price (Subscription Amount):
	$3,208,800.39
	
	Number of Shares to be Acquired: 1,502,951
	
	Underlying Shares Subject to Warrants: 1,502,951
	    (the number of Shares to be acquired)
	
	Tax ID No.: 98-0602379
	
	Address for Notice:
	
	101 Huntington Avenue
	Suite 2550
	Boston, MA 02199
	
	Telephone No.: 617-717-6605
	
	Email: sgeorge@cambercapital.com
	
	Attention: Sean George

  

			
	 Delivery Instructions:

(if different than above)
  
	 	
	 c/o Goldman Sachs
	 	
	 Street: 30 Hudson Street, 4rth Floor
	 	
	 City/State/Zip: Jersey City, NJ
	 	
	 Attention: Diti Patel
	 	
	 Telephone No.: 212-934-3933
	 	

  
 
			
	NAME OF PURCHASER: Cougar Trading, LLC
		
	By:	 	 /s/ Carl J. Bennett

	Name:	 	     Carl J. Bennett
	Title:	 	     Chief Financial Officer
	
	Aggregate Purchase Price (Subscription Amount):
	$99,918.00
	
	Number of Shares to be Acquired: 46,800
	
	Underlying Shares Subject to Warrants: 46,800
	    (the number of Shares to be acquired)
	
	Tax ID No.: 26-0040893
	
	Address for Notice:
	
	1370 Avenue of the Americas
	30th Floor
	New York, NY 10019
	
	Telephone No.: 212-702-0693
	
	Email: cbennett@cougartrading.com
	
	Attention:    Carl J. Bennett

  

			
	 Delivery Instructions:
 (if different than above)

		
	c/o	 	  

			
		
	Street:	 	  

			
		
	City/State/Zip:	 	  

			
		
	Attention:	 	  

			
		
	Telephone No.:	 	  

  
 
			
	NAME OF PURCHASER: Cranshire Capital LP
		
	By:  	 	 /s/ Keith A.
Goodman

			
	Name:	 	  Keith A. Goodman
	Title:	 	  COO, Downsview Capital Inc., The General   Partner
	
	Aggregate Purchase Price (Subscription Amount):
	$95,001.10
	
	Number of Shares to be Acquired: 44,497
	
	Underlying Shares Subject to Warrants: 44,497
	    (the number of Shares to be acquired)
	
	Tax ID No.:
	
	Address for Notice:
	
	Cranshire Capital LP
	3100 Dundee Road, Ste 703
	Northbrook, IL 60062
	
	Telephone No.: 847-562-9030
	
	 Email:mkopin@cranshirecapital.com /
 kgoodman@cranshirecapital.com

	
	Attention: Mitchell Kopin

  

			
	 Delivery Instructions:
 (if different than above)

		
	c/o	 	  

			
		
	Street:	 	  

			
		
	City/State/Zip:	 	  

			
		
	Attention:	 	  

			
		
	Telephone No.:	 	  

  
 
			
	NAME OF PURCHASER: DAFNA LifeScience Ltd
		
	By:	 	 /s/  Nathan
Fischel

			
	Name:	 	 Nathan Fischel
	Title:	 	 Managing Member
	
	Aggregate Purchase Price (Subscription Amount): $99,999.13
	
	Number of Shares to be Acquired: 46,838
	
	 Underlying Shares Subject to Warrants: 46,838
     (the number of Shares to be acquired)

	
	Tax ID No.: 98-0357042
	
	Address for Notice:
	
	10990 Wilshire Blvd., #1400
	Los Angeles, CA 90024
	
	Telephone No.: 310-954-3200
	
	Email: dfische@dafnacapital.com
	
	Attention: David Fischel

			
	
	 Delivery Instructions:

(if different than above)

		
	 c/o
	 	  

			
		
	 Street:
	 	  

			
		
	 City/State/Zip:
	 	  

			
		
	 Attention:
	 	  

			
		
	 Telephone No.:
	 	  

  
 
			
	NAME OF PURCHASER: DAFNA LifeScience Select Ltd
		
	By:  	 	 /s/ Nathan
Fischel

			
	Name:	 	  Nathan Fischel
	Title:	 	  Managing Member
	
	Aggregate Purchase Price (Subscription Amount):
	$228,000.92
	
	Number of Shares to be Acquired: 106,792
	
	Underlying Shares Subject to Warrants: 106,792
	    (the number of Shares to be acquired)
	
	Tax ID No.: 20-0522253
	
	Address for Notice:
	
	10990 Wilshire Blvd., #1400
	Los Angeles, CA 90024
	
	Telephone No.: 310-954-3200
	
	Email: dfische@dafnacapital.com
	
	Attention: David Fischel

  

			
	 Delivery Instructions:
 (if different than above)

		
	c/o	 	  

			
		
	Street:	 	  

			
		
	City/State/Zip:	 	  

			
		
	Attention:	 	  

			
		
	Telephone No.:	 	  

  
 
			
	NAME OF PURCHASER: DAFNA LifeScience Market Neutral Ltd
		
	By:	 	 /s/ Nathan
Fischel

			
	Name:	 	Nathan Fischel
	Title:	 	Managing Member
	
	 Aggregate Purchase Price (Subscription Amount):
 $72,000.74

	
	Number of Shares to be Acquired: 33,724
	
	 Underlying Shares Subject to Warrants: 33,724
     (the number of Shares to be acquired)

	
	Tax ID No.: 98-0392547
	
	Address for Notice:
	
	10990 Wilshire Blvd., #1400
	Los Angeles, CA 90024
	
	Telephone No.: 310-954-3200
	
	Email: dfische@dafnacapital.com
	
	Attention: David Fischel

  

			
	 Delivery Instructions:

(if different than above)

			
		
	 c/o
	 	  

			
		
	 Street:
	 	  

			
		
	 City/State/Zip:
	 	  

			
		
	 Attention:
	 	  

			
		
	 Telephone No.:
	 	  

  
 
			
	
NAME OF PURCHASER: Deerfield Special Situations Fund LP

		
	By:	 	/s/ James Flynn
	Name:   James Flynn
	Title:     General Partner
	
	 Aggregate Purchase Price (Subscription Amount):

	 $576,001.65

	
	 Number of Shares to be Acquired: 269,790

	
	 Underlying Shares Subject to Warrants: 269,790

	     (the number of Shares to be acquired)

	
	 Tax ID No.: 20-3665010

	
	 Address for Notice:

	
	 780 3rd Avenue, 37th Floor

	 New York NY 10017

	
	 Telephone No.: 212-551-1600

	
	 Email: dlevine@deerfieldpartners.com

	
	 Attention: Darren Levine

 

			
	 Delivery Instructions:

(if different than above)

			
		
	 c/o  
	 	 

			
		
	 Street:  
	 	 

			
		
	 City/State/Zip:  
	 	 

			
		
	 Attention:  
	 	 

			
		
	 Telephone No.:  
	 	 

  
 
			
	NAME OF PURCHASER: Deerfield Special Situations Fund International, LTD
		
	By:	 	 /s/ James Flynn

	Name:	 	     James Flynn
	Title:	 	     General Partner
	
	Aggregate Purchase Price (Subscription Amount):
	$924,000.25
	
	Number of Shares to be Acquired: 432,787
	
	 Underlying Shares Subject to Warrants: 432,787
     (the number of Shares to be acquired)

	
	Tax ID No.: n/a
	
	Address for Notice:
	
	780 3rd Avenue, 37th
Floor
	New York NY 10017
	
	Telephone No.: 212-551-1600
	
	Email: dlevine@deerfieldpartners.com
	
	Attention: Darren Levine

  

			
	 Delivery Instructions:

(if different than above)

			
		
	 c/o  
	 	 

			
		
	 Street:  
	 	 

			
		
	 City/State/Zip:  
	 	 

			
		
	 Attention:  
	 	 

			
		
	 Telephone No.:  
	 	 

  
 
			
	NAME OF PURCHASER: Hartz Capital Investments, LLC
	
	By: Empery Asset Management, LP, it’s authorized agent
		
	By:	 	 /s/ Ryan Lane

	Name:	 	     Ryan Lane
	Title:	 	     Managing Partner of the GP
	
	Aggregate Purchase Price (Subscription Amount):
	$118,515.99
	
	Number of Shares to be Acquired: 55,511
	
	Underlying Shares Subject to Warrants: 55,511
	    (the number of Shares to be acquired)
	
	Tax ID No.: 26-1474239
	
	Address for Notice:
	
	120 Broadway, Suite 1019
	New York NY 10271
	
	Telephone No.: 212-608-3300
	
	Email: notices@emperyam.com
	
	Attention: Ryan Lane

  

			
	 Delivery Instructions:
 (if different than above)

			
		
	c/o	 	  

			
		
	Street:	 	  

			
		
	City/State/Zip:	 	  

			
		
	Attention:	 	  

			
		
	Telephone No.:	 	  

  
 
			
	 NAME OF PURCHASER: Empery Asset Master, LTD

	
	 By: Empery Asset Management, LP, it’s authorized agent

		
	By:	 	 /s/ Ryan Lane

	Name:	 	     Ryan Lane
	 Title:
	 	     Managing Partner of the GP
	
	 Aggregate Purchase Price (Subscription Amount):
 $118,513.85

	
	Number of Shares to be Acquired: 55,510
	
	 Underlying Shares Subject to Warrants: 55,510
     (the number of Shares to be acquired)

	
	Tax ID No.: 98-0571318
	
	Address for Notice:
	
	 120 Broadway, Suite 1019
 New York NY 10271

	
	Telephone No.: 212-608-3300
	
	Email: notices@emperyam.com
	
	Attention: Ryan Lane

  

			
	 Delivery Instructions:

(if different than above)

		
	 c/o  
	 	  

			
		
	 Street:
	 	  

			
		
	 City/State/Zip:
	 	  

			
		
	 Attention:
	 	  

			
		
	 Telephone No.:
	 	  

  
 
					
	NAME OF PURCHASER:  Epworth-Ayer Capital
		
	By:	 	/s/ Jay Venkatesan
	Name:	 		 	    Jay Venkatesan
	Title:	 		 	    Managing Member
	
	Aggregate Purchase Price (Subscription Amount):
	$166,645.29
	
	Number of Shares to be Acquired: 78,054
	
	Underlying Shares Subject to Warrants: 78,054
	    (the number of Shares to be acquired)
	
	Tax ID No.: 98-058-5921
	
	Address for Notice:
	
	230 California Street
	Suite 600
	San Francisco, CA 94111
	
	Telephone No.: 415-874-4800
	
	Facsimile No.: 415-520-6826
	
	Email: tmg@ayercapital.com
	
	Attention: Tom Glaser

  

	
	 Delivery Instructions:

(if different than above)

	
	c/o Morgan Stanley
	Street: 901 South Bond Street
	City/State/Zip: Baltimore, MD 21231
	Attention: Alicia Alvez/ Deborah Mullin
	Telephone No.: 410-534-1582

  
 
					
	NAME OF PURCHASER: Freestone Advantage Partners, LP
		
	By:	 	 /s/ Keith A. Goodman

	Name:	 		 	    Keith A. Goodman
	Title:	 		 	    COO, Downsview Capital Inc., The General Partner
	
	 Aggregate Purchase Price (Subscription Amount):
 $5,000.17

	
	Number of Shares to be Acquired: 2,342
	
	Underlying Shares Subject to Warrants: 2,342
	    (the number of Shares to be acquired)
	
	Tax ID No.:
	
	Address for Notice:
	
	c/o Downsview Capital, Inc.
	3100 Dundee Road, Ste 703
	Northbrook, IL 60062
	
	Telephone No.: 847-562-9030
	
	Email:mkopin@cranshirecapital.com / kgoodman@cranshirecapital.com
	
	Attention: Mitchell Kopin

			
	 Delivery Instructions:
 (if different than above)

			
		
	 c/o
	 	
 

			
		
	 Street:
	 	
 

			
		
	 City/State/Zip:
	 	
 

			
		
	 Attention:
	 	
 

			
		
	 Telephone No.:
	 	  

  
 
			
	NAME OF PURCHASER: IPConcept Fund Management S.A., an administration company according to Luxembourg Law, acting in its own name but on behalf of Apo Medical
Opportunities – Medical Strategy (“ICP”)
		
	By:	 	 /s/ Matthias Schirpke

	Name:	 	     Matthias Schirpke
	Title:	 	     CEO
		
	By:	 	 /s/ Marco Onischschenko

	Name:	 	     Marco Onischschenko
	Title:	 	     Proxy
	
	Aggregate Purchase Price (Subscription Amount):
	$99,982.05
	
	Number of Shares to be Acquired: 46,830
	
	Underlying Shares Subject to Warrants: 46,830
	    (the number of Shares to be acquired)
	
	Tax ID No.:
	
	Address for Notice:
	
	4, rue Thomas-Edison
	L-1445 Luxembourg
	
	Telephone No.: 352-2602-484950
	
	Email: amc@ipconcept.lu
	
	Attention: Mr. Matthias Schirpke

  

	
	 Delivery Instructions:
 (if
different than above)

	
	c/o DZ PRIVATBANK S.A.
	
	Street: 4, rue Thomas-Edison
	City/State/Zip: L-1445 Luxembourg
	Attention: EFFEKTENKASSE
	
	Telephone No.: 352- 44903 4630

  
 
					
	NAME OF PURCHASER: Iroquois Master Fund Ltd.
		
	By:	 	 /s/ Joshua Silverman

		 	Name:	 	Joshua Silverman
		 	Title:	 	Authorized Signer
	
	 Aggregate Purchase Price (Subscription Amount):

	$100,001.27
	
	Number of Shares to be Acquired: 46,839
	
	Underlying Shares Subject to Warrants: 46,839
	    (the number of Shares to be acquired)
	
	Tax ID No.: 98-0445485
	
	Address for Notice:
	
	641 Lexington Avenue, 26th Floor
	
	New York, NY 10022
	
	Telephone No.: 212-924-3070
	
	Email: jsilvermant@icfund.com
	
	Attention: Josh Silverman

  

			
	 Delivery Instructions:
 (if different than above)

			
		
	 c/o
	 	
 

			
		
	 Street:
	 	
 

			
		
	 City/State/Zip:
	 	
 

			
		
	 Attention:
	 	
 

			
		
	 Telephone No.:
	 	  

  
 
			
	NAME OF PURCHASER: Jalu Capital Partners LP
		
	By:	 	 /s/ Mark Fain

		 	Name: Mark Fain
		 	Title: Managing Partner
	
	 Aggregate Purchase Price (Subscription Amount):
 $99,918.00

	
	Number of Shares to be Acquired: 46,800
	
	Underlying Shares Subject to Warrants: 46,800
	    (the number of Shares to be acquired)
	
	Tax ID No.: 27-2241513
	
	Address for Notice:
	
	39 Hewlett Lane
	Fort Washington, NY 10050
	
	Telephone No.: 516-439-5392
	
	Email: mark@jalucapital.com
	
	Attention: Mark Fain

  

	
	 Delivery Instructions:

	 (if different than above)

	
	 c/o BT1GLLC

	 Street: 825 3rd Avenue, 7th Floor

	 City/State/Zip: New York, NY 10022

	 Attention: Michael Petronzi

	 Telephone No.: 212-593-7551

  
 
			
	NAME OF PURCHASER: J. Goldman Master Fund L.P.
		
	By:	 	 /s/

			
	Name:	 	  

			
	Title:	 	  

			
	
	Aggregate Purchase Price (Subscription Amount): $907,375.00
	
	Number of Shares to be Acquired: 425,000
	
	Underlying Shares Subject to Warrants: 425,000
	    (the number of Shares to be acquired)
	
	Tax ID No.: 26-3804314
	
	Address for Notice:
	
	152 West 57th Street, 48th
Floor
	New York, NY 10019
	
	Telephone No.: 212-262-4268
	
	Email: areback@jgoldman.net
	
	Attention:

  

			
	 Delivery Instructions:
 (if different than above)

		
	c/o	 	  

			
		
	Street:	 	  

			
		
	City/State/Zip:	 	  

			
		
	Attention:	 	  

			
		
	Telephone No.:	 	  

  
 ANNEX A

 SCHEDULE OF PURCHASERS 
  

													
	 Security Holder
	  	Aggregate
Purchase Price
(Subscription
Amount)	 	  	Number of
Shares to be
Acquired	 	  	Underlying
Shares
Subject to
Warrant	 
	 Special Situations Cayman Fund, L.P.
	  	 	419,999.34	  	  	 	196,721	  	  	 	196,721	  
	 Special Situations Fund III QP, L.P.
	  	 	1,160,001.01	  	  	 	543,326	  	  	 	543,326	  
	 Special Situations Private Equity Fund, L.P.
	  	 	419,999.34	  	  	 	196,721	  	  	 	196,721	  
	 Special Situations Life Sciences Fund, L.P.
	  	 	1,999,796.86	  	  	 	936,673	  	  	 	936,673	  
	 David Greenhouse
	  	 	256,200.00	  	  	 	120,000	  	  	 	120,000	  
	 Austin Marxe
	  	 	999,999.84	  	  	 	468,384	  	  	 	468,384	  
	 New Leaf Ventures II, L.P.
	  	 	4,999,999.20	  	  	 	2,341,920	  	  	 	2,341,920	  
	 Venrock Associates V, L.P.
	  	 	4,060,349.41	  	  	 	1,901,803	  	  	 	1,901,803	  
	 Venrock Entrepreneurs Fund V, L.P.
	  	 	95,400.34	  	  	 	44,684	  	  	 	44,684	  
	 Venrock Partners V, L.P.
	  	 	344,249.54	  	  	 	161,241	  	  	 	161,241	  
	 Camber Capital Fund II, LP
	  	 	80,150.04	  	  	 	37,541	  	  	 	37,541	  
	 Camber Capital Master Fund, LP
	  	 	3,208,800.39	  	  	 	1,502,951	  	  	 	1,502,951	  
	 Arthur J. Penillard Jr. Trust
	  	 	211,051.16	  	  	 	98,853	  	  	 	98,853	  
	 Ayer Capital Partners Master Fund, L.P.
	  	 	1,772,538.92	  	  	 	830,229	  	  	 	830,229	  
	 Ayer Capital Partners Kestrel Fund, L.P.
	  	 	60,819.75	  	  	 	28,487	  	  	 	28,487	  
	 Epworth-Ayer Capital
	  	 	166,645.29	  	  	 	78,054	  	  	 	78,054	  
	 Deerfield Special Situations Fund, L.P.
	  	 	576,001.65	  	  	 	269,790	  	  	 	269,790	  
	 Deerfield Special Situations Fund International, Limited
	  	 	924,000.25	  	  	 	432,787	  	  	 	432,787	  
	 J. Goldman Master Fund LP
	  	 	907,375.00	  	  	 	425,000	  	  	 	425,000	  
	 Oppenheim Asset Management Services S.ar.l. on behalf of FCPOP Medical BioHe@lth-Trends
	  	 	749,854.70	  	  	 	351,220	  	  	 	351,220	  
	 Zeke, LP
	  	 	500,017.00	  	  	 	234,200	  	  	 	234,200	  
	 DAFNA LifeScience Ltd.
	  	 	99,999.13	  	  	 	46,838	  	  	 	46,838	  
	 DAFNA LifeScience Select Ltd.
	  	 	228,000.92	  	  	 	106,792	  	  	 	106,792	  
	 DAFNA LifeScience Market Neutral Ltd.
	  	 	72,000.74	  	  	 	33,724	  	  	 	33,724	  
	 Medical Strategy GmbH for Pharma/Whealth Management Company S.A. on behalf of Pharma/wHealth
	  	 	149,983.75	  	  	 	70,250	  	  	 	70,250	  
	 Empery Asset Master, LTD
	  	 	118,513.85	  	  	 	55,510	  	  	 	55,510	  
	 Hartz Capital Investments, LLC
	  	 	118,515.99	  	  	 	55,511	  	  	 	55,511	  
	 Iroquois Master Fund Ltd.
	  	 	100,001.27	  	  	 	46,839	  	  	 	46,839	  
	 IPConcept Fund Management S.A., an administration company according to Luxembourg Law, acting in its own name but on behalf of
Apo Medical Opportunities – Medical Strategy (“ICP”)
	  	 	99,982.05	  	  	 	46,830	  	  	 	46,830	  
	 Cougar Trading LLC
	  	 	99,918.00	  	  	 	46,800	  	  	 	46,800	  
	 Jalu Capital Partners LP
	  	 	99,918.00	  	  	 	46,800	  	  	 	46,800	  
	 The Osgood Family Trust UAD 4/14/2000
	  	 	99,918.00	  	  	 	46,800	  	  	 	46,800	  
	 Cranshire Capital LP
	  	 	95,001.10	  	  	 	44,497	  	  	 	44,497	  
	 Freestone Advantage Partners, LP
	  	 	5,000.17	  	  	 	2,342	  	  	 	2,342	  
	 Total
	  	 	25,300,002.00	  	  	 	11,850,118	  	  	 	11,850,118	  

  
 EXHIBITS: 

 

			
	A:	  	Form of Warrant
	B:	  	Form of Registration Rights Agreement
	C-1:	  	Accredited Investor Questionnaire
	C-2:	  	Stock Certificate Questionnaire
	D:	  	Irrevocable Transfer Agent Instructions
	E:	  	Form of Officer’s Certificate
	F:	  	Form of Compliance Certificate
	G:	  	Purchaser’s Certificate of Subsequent Sale

  
 1 

  
 EXHIBIT A

 FORM OF WARRANT 

  
 1 

  
 EXHIBIT B

 FORM OF REGISTRATION RIGHTS AGREEMENT 

  
 1

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