Document:

EX-10.5

 Exhibit 10.5 

SEVERANCE PROTECTION AGREEMENT 

SEVERANCE PROTECTION AGREEMENT, dated July 14, 2014, by and between MediciNova, Inc., a Delaware corporation (the
“Company”), and Geoffrey O’Brien (the “Executive”). 
 PURPOSE 

The Board of Directors of the Company (the “Board”) recognizes that the possibility of a Change in Control (as hereinafter
defined) of the Company exists and that the threat or occurrence of a Change in Control may result in the distraction of its key management personnel because of the uncertainties inherent in such a situation. 

The Board has determined that it is essential and in the best interests of the Company and its stockholders to retain the services of the
Executive in the event of the threat or occurrence of a Change in Control and to ensure the Executive’s continued dedication and efforts in such event without undue concern for the Executive’s personal financial and employment security.

 In order to induce the Executive to remain in the employ of the Company, particularly in the event of the threat or occurrence of a
Change in Control, the Company desires to enter into this Agreement to provide the Executive with certain benefits in the event the Executive’s employment is terminated as a result of, or in connection with, a Change in Control. 

NOW, THEREFORE, in consideration of the respective agreements of the parties contained herein, it is agreed as follows: 

SECTION 1. Definitions.  

For purposes of this Agreement, the following terms have the meanings set forth below: 

“Accrued Compensation” means an amount which includes all amounts earned or accrued by the Executive through and
including the Termination Date but not paid to the Executive on or prior to such date, including (a) all base salary, (b) reimbursement for all reasonable and necessary expenses incurred by the Executive on behalf of the Company during the
period ending on the Termination Date, (c) all vacation pay and (d) all bonuses and incentive compensation (other than the Pro Rata Bonus). 

“Base Salary Amount” means the greater of the Executive’s annual base salary (a) at the rate in effect on
the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or
non-qualified employee benefit plan of the Company or any other agreement or arrangement. 
 “Beneficial Owner” has
the meaning as used in Rule 13d-3 promulgated under the Securities Exchange Act. The terms “Beneficially Owned” and “Beneficial Ownership” each have a correlative meaning. 

“Board” means the Board of Directors of the Company. 

“Bonus Amount” means the greatest of (a) the annual bonus paid or payable to the Executive pursuant to any annual
bonus or incentive plan maintained by the Company in respect of the fiscal year ending immediately prior to the fiscal year in which the Termination Date occurs, (b) the average of the annual bonus paid or payable to the Executive pursuant to
any annual bonus or incentive plan maintained by the Company in respect of each of the three fiscal years ending immediately prior to the fiscal year in which the Termination Date occurs (or, if higher, ending in respect of each of the three fiscal
years ending immediately prior to the fiscal year in which the Change in Control occurs) or (c) in the event that the Executive was not employed by the Company for the entire fiscal year ending immediately prior to the fiscal year in which the
Termination Date occurs, the annual target bonus established and payable to the Executive pursuant to any annual bonus or incentive plan maintained by the Company in respect of the fiscal year ending immediately prior to the fiscal year in which the
Termination Date occurs. Bonus Amount includes only the short-term incentive portion of the annual bonus and does not include restricted stock awards, options or other long-term incentive compensation awarded to the Executive. 

“Cause” for the termination of the Executive’s employment with the Company will be deemed to exist if
(a) the Executive has been convicted for committing an act of fraud, embezzlement, theft or other act constituting a 

 
felony (other than traffic related offenses or as a result of vicarious liability), (b) the Executive willfully engages in illegal conduct or gross misconduct that is significantly injurious
to the Company; however, no act or failure to act on the Executive’s part shall be considered “willful” unless done or omitted to be done by the Executive not in good faith and without reasonable belief that his or her action or
omission was in the best interest of the Company or (c) failure to perform his or her duties in a reasonably satisfactory manner after the receipt of a notice from the Company detailing such failure if the failure is incapable of cure, and if
the failure is capable of cure, upon the failure to cure such failure within 30 days of such notice or upon its recurrence. 

“Change in Control” of the Company means, and shall be deemed to have occurred upon, any of the following events: 

(a) The acquisition by any Person of beneficial ownership (as defined in Rule 13d-3 of the General Rules and Regulations under the Securities
Exchange Act) of forty percent (40%) or more of the outstanding voting securities; provided, however, that the following acquisitions shall not constitute a Change in Control for purposes of this subparagraph (a): (A) any acquisition
directly from the Company; (B) any acquisition by the Company or any of its Subsidiaries; (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its Subsidiaries; or
(D) any acquisition by any corporation pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subparagraph (c) below; or 

(b) Individuals who, as of January1, 2014, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at
least a majority of the Board; provided, however, that any individual who becomes a director of the Company subsequent to January 1, 2014, and whose election, or whose nomination for election by the Company’s stockholders, to the Board was
either (i) approved by a vote of at least a majority of the directors then comprising the Incumbent Board or (ii) recommended by a nominating committee comprised entirely of directors who are then Incumbent Board members shall be
considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms
are used in Rule 14a-11 of Regulation 14A promulgated under the Securities Exchange Act), other actual or threatened solicitation of proxies or consents or an actual or threatened tender offer; or 

(c) Consummation of a reorganization, merger, or consolidation or sale or other disposition of all or substantially all of the assets of the
Company (a “Business Combination”), in each case unless following such Business Combination, (i) all or substantially all of the Persons who were the Beneficial Owners, respectively, of the outstanding shares and outstanding voting
securities immediately prior to such Business Combination own, directly or indirectly, more than fifty percent (50%) of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors
of the Company, as the case may be, of the entity resulting from the Business Combination (including, without limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets
either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the outstanding voting securities (provided, however, that for purposes of this clause
(i) any shares of common stock or voting securities of such resulting entity received by such Beneficial Owners in such Business Combination other than as the result of such Beneficial Owners’ ownership of outstanding shares or outstanding
voting securities immediately prior to such Business Combination shall not be considered to be owned by such Beneficial Owners for the purposes of calculating their percentage of ownership of the outstanding common stock and voting power of the
resulting entity); (ii) no Person (excluding any entity resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such entity resulting from the Business Combination) beneficially owns, directly
or indirectly, forty percent (40%) or more of the combined voting power of the then outstanding voting securities of such entity resulting from the Business Combination unless such Person owned forty percent (40%) or more of the
outstanding shares or outstanding voting securities immediately prior to the Business Combination; and (iii) at least a majority of the members of the Board of the entity resulting from such Business Combination were members of the Incumbent
Board at the time of the execution of the initial agreement, or the action of the Board, providing for such Business Combination; or 
 (d)
Approval by the Company’s stockholders of a complete liquidation or dissolution of the Company. 
 For purposes of clause (c), any
Person who acquires outstanding voting securities of the entity resulting from the Business Combination by virtue of ownership, prior to such Business Combination, of outstanding voting securities of both the Company and the entity or entities with
which the Company is combined shall be treated as two Persons after the Business Combination, who shall be treated as owning outstanding voting securities of the entity resulting from the Business Combination by virtue of ownership, prior to such
Business Combination of, respectively, outstanding voting securities of the Company, and of the entity or entities with which the Company is combined. 

  
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 “Code” means the Internal Revenue Code of 1986, as amended. 

“COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended. 

“Company” means MEDICINOVA, INC., a Delaware corporation, provided that in recognition of the fact that the Executive
may be employed by a direct or indirect Subsidiary of MEDICINOVA, INC., the term “Company” when referring to the employment relationship and the compensation or benefits related thereto shall include the employer of Executive as the
context requires. 
 “Continuation Period” has the meaning set forth in Section 3.1(b)(iii). 

“Disability” means the status of disability determined conclusively by the Company based upon certification of
disability by the Social Security Administration or upon such other proof as the Company may reasonably require, effective upon receipt of such certification or other proof by the Company. 

“Full Release” means a written release, timely executed so that it is fully effective no later than 60 days following
the Executive’s Termination Date, in a form satisfactory to the Company and counsel pursuant to which the Executive fully and completely releases the Company from any and all claims that the Executive may have against the Company or its
affiliates (other than any claims that may or have arisen under this Agreement). 
 “Good Reason” means the
occurrence of any of the events or conditions described in clauses (a) through (e) hereof, without the Executive’s prior written consent: 

(a)(i) any material adverse change in the Executive’s status, position or responsibilities (including reporting responsibilities) from
the Executive’s status, position or responsibilities as in effect at any time within 180 days preceding the date of the Change in Control or at any time thereafter, or (ii) any assignment to the Executive of duties or responsibilities
which are materially and adversely inconsistent with the Executive’s status, position or responsibilities as in effect at any time within 180 days preceding the date of the Change in Control or at any time thereafter, in each case except in
connection with the termination of the Executive’s employment for Disability, Cause, as a result of the Executive’s death or by the Executive other than for Good Reason; 

(b) a material reduction in Executive’s base salary; 

(c) the imposition of a requirement that the Executive be based at any place outside a 50-mile radius from the Executive’s principal
place of employment immediately prior to the Change in Control, except for reasonably required travel on Company business which is not materially greater in frequency or duration than prior to the Change in Control; 

(d) any material breach by the Company of any provision of this Agreement or any other agreement to which the Company and the Executive are
parties; or 
 (e) the failure of the Company to obtain, as contemplated in Section 7, an agreement, reasonably satisfactory to the
Executive, from any Successor to assume and agree to perform this Agreement. 
 Notwithstanding anything to the contrary in this Agreement,
no termination will be deemed to be for Good Reason hereunder if it is remedied by the Company within 30 days after receipt of notice thereof given by the Executive. 

“Notice of Termination” means a written notice from the Company or the Executive of the termination of the
Executive’s employment which indicates the specific termination provision in this Agreement relied upon and which sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated. Any such notice given by Executive of a termination for Good Reason shall be given within 90 days of the occurrence giving rise to such termination for Good Reason. 

“Person” has the meaning as defined in Section 3(a)(9) of the Securities Exchange Act and used in
Section 13(d) or 14(d) of the Securities Exchange Act, and will include any “group” as such term is used in such sections. 

  
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 “Pro Rata Bonus” means an amount equal to the Bonus Amount multiplied by
a fraction, the numerator of which is the number of days elapsed in the then fiscal year through and including the Termination Date and the denominator of which is 365. 

“Securities Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Subsidiary” means any corporation with respect to which another specified corporation has the power under ordinary
circumstances to vote or direct the voting of sufficient securities to elect a majority of the directors. 

“Successor” means a corporation or other entity acquiring all or substantially all the assets and business of the
Company, whether by operation of law, by assignment or otherwise. 
 “Termination Date” means (a) in the case
of the Executive’s death, the Executive’s date of death, (b) in the case of the termination of the Executive’s employment with the Company by the Executive for Good Reason, five days after the date the Notice of Termination is
received by the Company, and (c) in all other cases, the date specified in the Notice of Termination; provided that if the Executive’s employment is terminated by the Company for Cause or due to Disability, the date specified in the Notice
of Termination will be at least 30 days after the date the Notice of Termination is given to the Executive. 
 SECTION 2. Term of
Agreement. 
 The term of this Agreement (the “Term”) will commence on the date of this Agreement, and will
continue in effect until December 31, 2014; provided that on December 31, 2014 and each anniversary of such date thereafter, the Term shall automatically be extended for one additional year unless, not later than October 1 immediately
preceding such automatic extension, the Company or the Executive shall have given notice not to extend the Term; and further provided that in the event a Change in Control occurs during the Term, the Term will be extended to the date 24 months after
the date of the occurrence of such Change in Control. 
 Notwithstanding the foregoing and subject to Section 3.2, the Term shall be
deemed to have immediately expired without any further action and this Agreement will immediately terminate and be of no further effect if any of the following events occurs prior to a Change in Control: 

(a) the Executive’s employment with the Company is terminated (whether by the Company or the Executive) for any reason; 

(b) the Executive’s employment is not terminated but there is a change in his or her status, position or responsibilities (including
reporting responsibilities) from that which applied to Executive on the date of this Agreement; or 
 (c) the Executive reaches the
mandatory retirement age applicable to the Company’s executive officers under any stated policy of the Company, as may be adopted and revised from time to time by the Board. 

SECTION 3. Termination of Employment. 

3.1 If, during the Term, the Executive’s employment with the Company is terminated within 12 months following a Change in Control, the
Executive will be entitled to the following compensation and benefits: 
 (a) If Executive’s employment with the Company is terminated
(i) by the Company for Cause or Disability, (ii) by reason of the Executive’s death or (iii) by the Executive other than for Good Reason, the Company will pay to the Executive the Accrued Compensation and, if such termination is
other than by the Company for Cause, a Pro Rata Bonus, such amount will be paid in a single lump sum cash payment by the Company to the Executive within five days after the Termination Date. 

(b) If the Executive’s employment with the Company is terminated (whether by the Company or the Executive) for any reason other than as
specified in Section 3.1(a), the Executive will be entitled to the following: 
 (i) the Company will pay the Executive all Accrued
Compensation and a Pro Rata Bonus, such amounts will be paid in a single lump sum cash payment by the Company to the Executive within five days after the Termination Date; 

  
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 (ii) subject to Section 18, if applicable, and subject to the Executive providing the
Company with (and not revoking) a Full Release (taking into account any applicable period for revocation), the Company will pay the Executive as severance pay, and in lieu of any further compensation for periods subsequent to the Termination Date,
in a single payment an amount in cash equal to: 
 (i) two (2) times the sum of (A) the Base Salary Amount and (B) the Bonus
Amount, plus 
 (ii) the estimated premium cost to the Company of the provision of continued life insurance and disability benefits for the
Executive for 18 months following the Termination Date, as determined by the Company in its sole discretion, 
 which amount will be paid in
a single lump sum cash payment by the Company to the Executive on the 60th day following the Termination Date; 
 (iii) subject to
Section 18, if applicable, and subject to the Executive providing the Company with (and not revoking) a Full Release (taking into account any applicable period for revocation), and complying with his or her obligations under Section 6, the
Company will pay the cost of medical, dental and vision continuation coverage under COBRA for the Executive and any eligible dependents that were covered under the Company’s health care plans immediately prior to the Termination Date, for a
period of up to 18 months following the Termination Date (the “Continuation Period”), subject to the Executive’s timely election and continuation of such coverage (the “COBRA Benefit”). Notwithstanding the
foregoing, if the Company determines, in its sole discretion, that it cannot provide the COBRA Benefit without a substantial risk of violating applicable law (including the Patient Protection and Affordable Care Act), the Company instead shall pay
to the Executive, on the first day of each calendar month, a fully taxable cash payment equal to the applicable COBRA premiums for that month (including premiums for the Executive and the Executive’s eligible dependents who have elected and
remain enrolled in such COBRA coverage), subject to applicable tax withholdings (such amount, the “Special Cash Payment”), for the remainder of the Continuation Period. Executive may, but is not obligated to, use such Special Cash
Payments toward the cost of COBRA premiums. This Section 3.1(b)(iii) will not be interpreted so as to limit any benefits to which the Executive or the Executive’s dependents or beneficiaries may be entitled under any of the Company’s
employee benefit plans, programs or practices following the Executive’s termination of employment; 
 (iv) the Company shall provide
the Executive with reasonable outplacement services suitable to the Executive’s position for a period of 12 months or, if earlier, until the first acceptance by the Executive of an offer of employment; and 

(v) such other acceleration of vesting and other benefits provided in other Company plans or agreements regarding options to purchase Company
stock, restricted stock, deferral of stock or other equity compensation awards granted to or otherwise applicable to Executive. 
 (c) To
the extent necessary to comply with Code Section 409A, any such payment, reimbursements or in-kind benefits to be paid or provided to the Executive under Section 3.1(b)(iii) and/or Section 3.1(b)(iv), shall be paid or provided as soon
as practical following submission by the Executive of a reimbursement request but no later than the end of the calendar year following the calendar year in which such cost is incurred and no benefit will be paid or provided if the Executive incurs
such cost after the end of the second calendar year following the calendar year in which the Termination Date occurs. 
 (d) The Executive
will not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, and no such payment will be offset or reduced by the amount of any compensation or benefits provided to the Executive
in any subsequent employment, except as specifically provided in Section 3.1(b)(iii) and 3.1(b)(iv). 
 3.2 Notwithstanding anything in
this Agreement to the contrary, if, within the 30 days immediately preceding a Change in Control, (i) the Executive’s employment is terminated (whether by the Company or the Executive) for any reason other than as specified in
Section 3.1(a), or (ii) (A) there is a material adverse change in the Executive’s status, position or responsibilities (including reporting responsibilities) from that which applied to Executive on the date of this Agreement, and
(B) the Executive’s employment with the Company is subsequently terminated within 24 months following a Change in Control (whether by the Company or the Executive) for any reason other than as specified in Section 3.1(a), the
Executive shall be entitled to receive the benefits provided in Section 3.1(b). 

  
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 3.3 Except as otherwise noted herein, the compensation to be paid to the Executive pursuant to
Sections 3.1(a), 3.1(b)(i) and 3.1(b)(ii) of this Agreement (whether by reason of Section 3.1(a), Section 3.1(b) or Section 3.2) will be in lieu of any similar severance or termination compensation (i.e., compensation based directly
on the Executive’s annual salary or annual salary and bonus) to which the Executive may be entitled under any other Company severance or termination agreement, plan, program, policy, practice or arrangement. 

SECTION 4. Notice of Termination. 

Following a Change in Control, any purported termination of the Executive’s employment by the Company will be communicated by a Notice of
Termination to the Executive. For purposes of this Agreement, no such purported termination will be effective without such Notice of Termination. 

SECTION 5. Excise Tax Adjustments. 

5.1 In the event Executive becomes entitled to receive the benefits provided pursuant to Sections 3.1(b) or 3.2 herein, and the Company
determines that such benefits (the “Total Payments”) will be subject to the tax (the “Excise Tax”) imposed by Section 4999 of the Code, or any similar tax that may hereafter be imposed, the Company shall
compute the “Net After-Tax Amount,” and the “Reduced Amount,” and shall adjust the Total Payments as described below. The Net After-Tax Amount shall mean the present value of all amounts payable to the Executive
hereunder, net of all federal income, excise and employment taxes imposed on the Executive by reason of such payments. The Reduced Amount shall mean the largest aggregate amount of the Total Payments that if paid to the Executive would result in the
Executive receiving a Net After-Tax Amount that is equal to or greater than the Net After-Tax Amount that the Executive would have received if the Total Payments had been made. If the Company determines that there is a Reduced Amount, the Total
Payments will be reduced to the Reduced Amount. With respect to any such reduction, payments and benefits will be reduced in the following order: first against the latest scheduled cash payments (if necessary, to zero), then against any current cash
payments and benefits (if necessary, to zero), then against any equity or equity derivative payments and benefits (if necessary, to zero) and then to non-cash payments and benefits (other than equity or equity derivative related payments). 

5.2 For purposes of determining whether the Total Payments will be subject to the Excise Tax and the amounts of such Excise Tax and for
purposes of determining the Reduced Amount and the Net After-Tax Amount: 
 (a) Any other payments or benefits received or to be received by
the Executive in connection with a Change in Control of the Company or the Executive’s termination of employment (whether pursuant to the terms of this Agreement or any other plan, arrangement, or agreement with the Company, or with any
individual, entity, or group of individuals or entities (individually and collectively referred to in this subsection (a) as “Persons”) whose actions result in a change in control of the Company or any Person affiliated with
the Company or such Persons) shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code, and all “excess parachute payments” within the meaning of Section 280G(b)(1) of
the Code shall be treated as subject to the Excise Tax, unless in the opinion of a tax advisor selected by the Company and reasonably acceptable to the Executive (“Tax Counsel”), such other payments or benefits (in whole or in part)
should be treated by the courts as representing reasonable compensation for services actually rendered (within the meaning of Section 280G(b)(4)(B) of the Code), or otherwise not subject to the Excise Tax; 

(b) The amount of the Total Payments that shall be treated as subject to the Excise Tax shall be equal to the lesser of (i) the total
amount of the Total Payments; or (ii) the amount of excess parachute payments within the meaning of Section 280G(b)(1) of the Code (after applying clause (a) above); 

(c) In the event that the Executive disputes any calculation or determination made by the Company, the matter shall be determined by Tax
Counsel, the fees and expenses of which shall be borne solely by the Company; and 
 (d) The Executive shall be deemed to pay federal income
taxes at the highest marginal rate of federal income taxation in the calendar year in which the Total Payments are to be made or commenced, as applicable, and state and local income taxes at the highest marginal rate of taxation in the state and
locality of the Executive’s residence on the effective date of employment, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes, taking into account the reduction in itemized
deduction under Section 68 of the Code. 

  
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 SECTION 6. Covenants of the Executive. 

During the Continuation Period following any Change in Control pursuant to which the Executive receives the benefits pursuant to
Section 3.1(b)(iii), the Executive covenants and agrees as follows: 
 (a) the Executive agrees to comply with his or her obligations
under the any Inventions, Copyright and Confidentiality Agreement that he or she entered into with the Company; and 
 (b) the Executive
acknowledges that the Executive has knowledge of confidential and proprietary information concerning the current salary, benefits, skills, and capabilities of Company employees and that it would be improper for the Executive to use such Company
proprietary information in any manner adverse to the Company’s interests. The Executive agrees that he or she will not recruit or solicit for employment, directly or indirectly, any employee of the Company during the Continuation Period. 

SECTION 7. Successors; Binding Agreement. 

This Agreement will be binding upon and will inure to the benefit of the Company and its Successors, and the Company will require any
Successors to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession or assignment had taken place. Neither this Agreement nor any right
or interest hereunder will be assignable or transferable by the Executive or by the Executive’s beneficiaries or legal representatives, except by will or by the laws of descent and distribution. This Agreement will inure to the benefit of and
be enforceable by the Executive’s legal representatives. 
 SECTION 8. Fees and Expenses. 

The Company will pay as they become due all legal fees and related expenses (including the costs of experts) incurred by the Executive, in good
faith, in (a) contesting or disputing, any such termination of employment and (b) seeking to obtain or enforce any right or benefit provided by this Agreement or by any other plan or arrangement maintained by the Company under which the
Executive is or may be entitled to receive benefits. Any such reimbursements under this Section 8 shall be made as soon as practicable following submission of a reimbursement request, but no later than the end of the year following the year
during which the underlying expense was incurred. If the dispute is resolved by a final decision of an arbitrator pursuant to Section 15 in the favor of the Company, the Executive shall reimburse the Company for all such legal fees and related
expenses (including costs of experts) paid by the Company on behalf of the Executive. 
 SECTION 9. Notice. 

For the purposes of this Agreement, notices and all other communications provided for in the Agreement (including the Notice of Termination)
will be in writing and will be deemed to have been duly given when personally delivered or sent by certified mail, return receipt requested, postage prepaid, addressed to the respective addresses last given by each party to the other, provided that
all notices to the Company will be directed to the attention of the Board with a copy to the Secretary of the Company. All notices and communications will be deemed to have been received on the date of delivery thereof or on the third business day
after the mailing thereof, except that notice of change of address will be effective only upon receipt. 
 SECTION 10. Dispute Concerning
Termination. 
 If prior to the Date of Termination (as determined without regard to this Section 10), the party
receiving the Notice of Termination notifies the other party that a dispute exists concerning the termination, the Date of Termination shall be extended until the earlier of (i) the date on which the Term ends or (ii) the date on which the
dispute is finally resolved, either by mutual written agreement of the parties or by a final judgment, order or decree of an arbitrator or a court of competent jurisdiction (which is not appealable or with respect to which the time for appeal
therefrom has expired and no appeal has been perfected); provided, however, that the Date of Termination shall be extended by a notice of dispute given by the Executive only if such notice is given in good faith and the Executive pursues the
resolution of such dispute with reasonable diligence. 
 SECTION 11. Compensation During Dispute. 

If a purported termination occurs following a Change in Control and during the Term and the Date of Termination is extended in accordance with
Section 10 hereof, the Company shall continue to pay the Executive the full compensation in effect when the notice giving rise to the dispute was given (including, but not limited to, salary) and continue the Executive as a participant in all
compensation, benefit and insurance plans in which the Executive 

  
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was participating when the Notice of Termination was given, until the Date of Termination, as determined in accordance with Section 10 hereof. Amounts paid under this Section 11 are in
addition to all other amounts due under this Agreement and shall not be offset against or reduce any other amounts due under this Agreement or otherwise. 

SECTION 12. Nonexclusivity of Rights. 

Nothing in this Agreement will prevent or limit the Executive’s continuing or future participation in any benefit, bonus, incentive or
other plan or program provided by the Company for which the Executive may qualify, nor will anything herein limit or reduce such rights as the Executive may have under any other agreements with the Company (except for any severance or termination
provision included in any Employment Agreement covering the Executive, which in circumstances under which amounts become payable under Section 3.1(b) hereof shall be deemed superseded completely by this Agreement and of no further force and
effect). Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any plan or program of the Company will be payable in accordance with such plan or program, except as specifically modified by this Agreement.

 SECTION 13. No Set-Off. 

The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder will not
be affected by any circumstances, including any right of set-off, counterclaim, recoupment, defense or other right which the Company may have against the Executive or others. 

SECTION 14. Miscellaneous. 

No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and
signed by the Executive and the Company. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party will be deemed a
waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreement or representation, oral or otherwise, express or implied, with respect to the subject matter hereof has been made by either party
which is not expressly set forth in this Agreement. 
 SECTION 15. Governing Law and Binding Arbitration. 

This Agreement will be governed by and construed and enforced in accordance with the laws of the State of Delaware without giving effect to the
conflict of laws principles thereof. All disputes relating to this Agreement, including its enforceability, shall be resolved by final and binding arbitration before an arbitrator appointed by the Judicial Arbitration and Mediation Service
(JAMS), with the arbitration to be held in San Diego, California. Judgment upon the award may be entered in any court having jurisdiction thereof. 

SECTION 16. Severability. 

The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the validity
or enforceability of the other provisions hereof. 
 SECTION 17. Entire Agreement. 

This Agreement constitutes the entire agreement between the parties hereto and supersedes all prior agreements, if any, understandings and
arrangements, oral or written, between the parties hereto with respect to severance protection in connection with a Change in Control. 
 SECTION
18. Section 409A. 
 18.1 Notwithstanding any provision to the contrary in this Agreement, the Company shall
delay the commencement of payments or benefits coverage to which the Executive would otherwise become entitled under the Agreement in connection with his or her termination of employment until the earlier of (i) the expiration of the six-month
period measured from the date of the Executive’s “separation from service” with the Company (as such term is defined in Treasury Regulations issued under Section 409A of the Code) or (ii) the date of the
Executive’s death, if and only if the Company in good faith determines that the Executive is a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B) at the time of such separation from
service and that such delayed commencement is otherwise required in order to avoid a prohibited distribution under Section 409A(a)(2) of 

  
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the Code. Upon the expiration of the applicable Code Section 409A(a)(2) deferral period, all payments and benefits deferred pursuant to this Section 18 (whether they would have
otherwise been payable in a single sum or in installments in the absence of such deferral) shall be paid or reimbursed to the Executive in a lump sum with interest at the prime rate as published in The Wall Street Journal on the first
business day following the end of the deferral period, and any remaining payments and benefits due under the Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 

18.2 The provisions of this Agreement which require commencement of payments or benefits coverage subject to Section 409A upon a
termination of employment shall be interpreted to require that the Executive have a “separation from service” with the Company (as such term is defined in Treasury Regulations issued under Code Section 409A). 

18.3 With regard to any provision herein that provides for the reimbursement of costs and expenses or in-kind benefits, except as permitted by
Code Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expense eligible for reimbursement, or in-kind benefits, provided during any
taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the foregoing clause (ii) shall not be violated with regard to expenses reimbursed under
any arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect and (iii) such payments shall be paid or provided as soon as practical following
submission by the Executive of a reimbursement request but no later than the end of the calendar year following the calendar year in which such expense is incurred. 

18.4 For purposes of Code Section 409A, Executive’s right to receive any installment payments pursuant to this Agreement shall be
treated as a right to receive a series of separate and distinct payments. In no event may Executive, directly or indirectly, designate the calendar year of any payment to be made under this Agreement that is considered nonqualified deferred
compensation. 
 18.5 The provisions of this Section 18 are intended to assure that any benefits provided to Executive hereunder shall
comply with Code Section 409A and this Agreement shall be interpreted consistent with such section in all respects. 
 IN WITNESS
WHEREOF, the undersigned have executed the above agreement as of the date set forth first above. 
  

							
	 MEDICINOVA, INC.,
 A Delaware
Corporation
	 		 	EXECUTIVE
				
	By:	  	 /s/ Yuichi Iwaki
	 		 	 /s/ Geoffrey O’Brien

	Name:	  	Yuichi Iwaki	 		 	Geoffrey O’Brien
	Title:	  	President and CEO	 		 	

  
 9EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT, dated as of June 30, 2014 (“First Amendment”), to the LOAN AND SERVICING AGREEMENT, dated as of
May 24, 2013 (prior to the effectiveness of the First Amendment, the “Existing Agreement” and following the effectiveness of the First Amendment, the “Agreement”), among CARLYLE GMS FINANCE SPV LLC, a Delaware
limited liability company (the “Borrower”), CARLYLE GMS FINANCE, INC., a Maryland corporation (“Carlyle”), as the Transferor and the Servicer, each of the Conduit Lenders, Liquidity Banks, Lender Agents and
Institutional Lenders party to the Existing Agreement (as defined below), CITIBANK, N.A., as the Collateral Agent, WELLS FARGO BANK, NATIONAL ASSOCIATION, as the Account Bank, the Backup Servicer and the Collateral Agent, CITIBANK, N.A. and SUNTRUST
ROBINSON HUMPHREY, INC., as the Joint Lead Arrangers and CITIBANK, N.A., as the Administrative Agent. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Existing Agreement. 

The parties to the Existing Agreement desire to extend and amend the Existing Agreement in the manner set forth herein. 

Accordingly, in consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Amendments to the Existing Agreement. 

(a) The defined term “Broadly Syndicated Loan Asset” appearing in Section 1.01(b) of the Existing Agreement is hereby amended
by (i) deleting such defined term in its entirety and (ii) substituting therefor the following: 

“’Broadly Syndicated Loan Asset’ means a Loan Asset that (i) is a broadly syndicated commercial
loan, (ii) has a Tranche Size of $200,000,000 or greater (without consideration of reductions thereon from scheduled amortization payments), and (iii) is either (x) an Initial Unrated Loan Asset, or (y) rated (or will be by both
S&P and Moody’s (or the Obligor is rated by S&P and Moody’s) as of the Cut-Off Date relating thereto, and such ratings are not lower than B3 by Moody’s and B- by S&P.” 

(b) Clause (d) of the defined term “Concentration Limits” appearing in Section 1.01 of the Existing Agreement is hereby
amended by (i) deleting the figure “5%” appearing in the second line of such clause, and (ii) substituting therefor the figure “10%.” 

(c) Clauses (r), (s) and (t) of the defined term “Concentration Limits” appearing in Section 1.01 of the Existing
Agreement are hereby amended by (i) deleting such clauses in their entirety, and (ii) substituting therefor the following new clauses (r), (s) and (t): 

“(r) the sum of Outstanding Loan Balances of all Eligible Loan Assets for which the Senior Debt/EBITDA Ratio (determined
as of its related Cut-Off Date) of the related Obligor (i) with respect to all Large-Market Loan Assets, is greater than 4.50:1.00, plus (ii) with respect to all Mid-Market Loan Assets, is greater than 3.75:1.00, shall not exceed
15% of the Concentration Test Amount; 
 (s) the sum of Outstanding Loan Balances of all Unitranche Loan Assets that are
Eligible Loan Assets for which the Total Debt/EBITDA Ratio (determined as of its related Cut-Off Date) of the related Obligor (and for which the Obligor thereunder has no other senior Indebtedness outstanding) (i) with respect to Unitranche
Loan Assets that are Large-Market Loan Assets, is greater than 5.25:1.00, plus (ii) with respect to Unitranche Loan Assets that are Mid-Market Loan Assets, is greater than 4.50:1.00, shall not exceed 10% of the Concentration Test Amount;

 (t) the sum of Outstanding Loan Balances of all Eligible Loan Assets for which
the Total Debt/EBITDA Ratio (determined as of its related Cut-Off Date) of the related Obligor (other than an Obligor subject to the test under clause (s) above) (i) with respect to all Loan Assets, is greater than 6.00:1.00 shall not
exceed 10% of the Concentration Test Amount, and (ii) with respect to all Mid-Market Loan Assets, is greater than 5.00:1.00, shall not exceed 5% of the Concentration Test Amount;” 

(d) The defined term “Concentration Limits” appearing in Section 1.01 of the Existing Agreement is hereby amended by
(i) deleting the word “and” at the end of clause (v), (ii) deleting the period at the end of clause (w) and substituting therefor “;”, and (iii) adding he following new clauses (x) and (y) at the end
of such defined term: 
 “(x) the sum of Outstanding Loan Balances of all Cov-Lite Loan Assets that are Eligible Loan
Assets (including all Special Cov-Lite Loan Assets) shall not exceed 30% of the Concentration Test Amount; and 
 (y) the sum
of Outstanding Loan Balances of all Special Cov-Lite Loan Assets that are Eligible Loan Assets shall not exceed 5% of the Concentration Test Amount.” 

(e) The defined term “Concentration Test Amount” appearing in Section 1.01(b) of the Existing Agreement is hereby amended by
(i) deleting such defined term in its entirety and (ii) substituting therefor the following: 

“’Concentration Test Amount’ means $350,000,000, until the earlier to occur of (x) the date on which
the AOLB equals or exceeds $350,000,000, and (y) November 30, 2014, and (ii) at all times thereafter, the AOLB. 
 (f) The
defined term “Cut-Off Date” appearing in Section 1.01(b) of the Existing Agreement is hereby amended by (i) deleting such defined term in its entirety and (ii) substituting therefor the following: 

“’Cut-Off Date’ means, with respect to each Loan Asset, either (i) the date (which may be the
Closing Date) such Loan Asset is Pledged and an Advance based on a Borrowing Base including such Loan Asset is funded hereunder, or (ii) with respect to a Loan Asset that is part of the Collateral Portfolio and either (A) the term of this
Agreement is extended, or (B) the term of the Loan Agreement thereunder has been extended during the Revolving Period, the effective date of the amendment extending this Agreement or the term of such Loan Agreement, as applicable (the
evaluation as of such Cut-Off Date being in accordance with the Servicing Standard and the valuation practices of the Servicer and relying upon the most recent compliance certificates and financial information provided by each Obligor under
Section 6.08(f) or otherwise). 
 (g) The defined term “Minimum Credit Enhancement” appearing in Section 1.01(b)
of the Existing Agreement is hereby amended by (i) deleting the figure “40%” appearing in the seventh line of such defined term, and (ii) substituting therefor the figure “35%”. 

  
 2 

 (h) The defined term “Scheduled Commitment Termination Date” appearing in
Section 1.01(b) of the Existing Agreement is hereby amended by (i) deleting the date “May 24, 2016” appearing in the first line of such defined term, and (ii) substituting therefor the date “May 24, 2017”. 

(i) The defined term “Scheduled Maturity Date” appearing in Section 1.01(b) of the Existing Agreement is hereby amended by
(i) deleting the date “May 24, 2019” appearing in the first line of such defined term, and (ii) substituting therefor the date “May 22, 2020”. 

(j) Section 1.01 of the Existing Agreement is hereby amended by adding the following new defined terms and placing them in their
appropriate alphabetical order: 
 “’Bid Price’ means a bid price on a Loan Asset obtained from a bank
or a broker-dealer registered under the Securities Exchange Act of 1934 of nationally recognized standing or an Affiliate thereof. 

’Cov-Lite Loan Asset’ means a First Lien Loan Asset that is a Broadly Syndicated Loan Asset or a Special
Cov-Lite Loan Asset and that does not (i) contain any financial covenants or (ii) require the Obligor thereunder to comply with any Maintenance Covenant (regardless of whether compliance with one or more Incurrence Covenants is otherwise
required by the Loan Documents for such Loan Asset); provided that for all purposes other than the determination of the S&P and Moody’s Recovery Rates for such Loan Asset, a Loan Asset described in clause (i) or (ii) above
which either contains a cross-default provision to another loan of the underlying Obligor forming part of the same loan facility that requires the underlying Obligor to comply with a Maintenance Covenant will be deemed not to be a Cov-Lite Loan
Asset. For the purposes of this definition, “Maintenance Covenant” means a covenant by the Obligor to comply with one or more financial covenants during each reporting period, whether or not such Obligor has taken any specified
action, and “Incurrence Covenant” means a covenant by the Obligor to comply with one or more financial covenants only upon the occurrence of certain actions of the Obligor, including a debt issuance, dividend payment, share
purchase, merger, acquisition or divestiture. 
 ‘Large-Market Loan Asset” A Loan Asset for which the EBITDA
of the related Obligor thereof (as set forth in, or as calculated in connection with, the Underwriting Memoranda for such Loan Asset) is equal to or greater than $25,000,000. 

‘Mid-Market Loan Asset” A Loan Asset for which the EBITDA of the related Obligor thereof (as set forth in, or
as calculated in connection with, the Underwriting Memoranda for such Loan Asset) is less than $25,000,000. 
 ’Side
Quote’ means, with respect to any Loan Asset, bid side quotes for such Loan Asset obtained from one or more of Loan Pricing Corporation, MarkIt Partners or any other nationally recognized loan pricing service selected by the Servicer and
approved in writing by the Administrative Agent. 
 ’Special Cov-Lite Loan Asset’ means a Loan Asset that
would qualify as a Cov-Lite Loan Asset, except that such Loan Asset (i) does not qualify as a Broadly Syndicated Loan Asset solely because such Loan Asset has a Tranche Size of $150,000,000 or greater but less than $200,000,000 (without
consideration of reductions thereon from scheduled amortization payments), or (ii) has only one current Bid Price or a Side Quote that is based on only one current Bid Price.” 

  
 3 

 (k) Section 2.04(a) of the Existing Agreement is hereby amended by (i) deleting the
word “and” at the end of clause (xii), (ii) deleting clause (xiii) in its entirety, and (iii) adding the following new clauses (xiii) and (xiv) at the end of such Section: 

 

	 	“(xiii)  	thirteenth, to the Administrative Agent for distribution to each Lender Agent for the account of the applicable Lender, to pay the Advances Outstanding in connection with any voluntary prepayment of
Advances hereunder in accordance with Section 2.18(b); and 

 (xiv) fourteenth, during any Release
Period, to the Borrower, any remaining amounts.” 
 (l) Section 2.04(b) of the Existing Agreement is hereby amended by
(i) deleting the word “and” at the end of clause (vi), (ii) deleting clause (vii) in its entirety, and (iii) adding the following new clauses (vii) and (viii) at the end of such Section: 

 

	 	“(vii)  	seventh, to the Administrative Agent for distribution to each Lender Agent for the account of the applicable Lender, to pay the Advances Outstanding in connection with any voluntary prepayment of Advances
hereunder in accordance with Section 2.18(b); and 

  

	 	(viii)	eighth, during any Release Period, to the Borrower, any remaining amounts.” 

(m) Section 5.02(h) of the Existing Agreement is hereby amended by (i) deleting such subsection in its entirety and
(ii) substituting therefor the following replacement Section 5.02(h): 
 (h) Use of Proceeds. The Borrower
shall not use the proceeds of any Advance other than (x) to finance the acquisition by the Borrower of Collateral Portfolio, or (y) to distribute such proceeds to CGMS (so long as such distribution is permitted pursuant to
Section 5.02(m)). 
 (n) Annex A to the Existing Agreement is hereby amended by (i) deleting such annex in its entirety and
(ii) substituting therefor a new Annex A attached to this First Amendment. 
 (o) Schedule III to the Existing Agreement is hereby
amended by (i) deleting clauses II.(z) and (aa) in their entirety and (ii) substituting therefor the following: 
  

	 	“(z)	If the Loan Asset is a Cov-Lite Loan Asset (i) it is a First Lien Loan Asset, (ii) it has an Assigned Value of at least 90%, and (ii) the EBITDA of the related Obligor thereof (as set forth in, or as
calculated in connection with, the Underwriting Memoranda for such Loan Asset) is greater than or equal to $50,000,000. 

  

	 	(aa)	[Intentionally Omitted]” 

 2. Effective Date. This First Amendment shall become
effective (the “Effective Date”) upon the satisfaction of the following conditions (in form and substance reasonably acceptable to the Administrative Agent): 
  

	 	(a)	The Administrative Agent shall have received a copy of this First Amendment duly executed by each of the Borrower, Carlyle, the Lender Agents, the Conduit Lenders, the Liquidity Banks, the Institutional Lenders, the
Collateral Agent, the Joint Lead Arrangers, the Administrative Agent and the Account Bank, Backup Servicer and Collateral Custodian. 

  

	 	(b)	The Administrative Agent shall have received a copy of the assignment and assumption agreement with Royal Bank of Canada and the assignment of Commitments resulting therefrom shall have been duly effected.

  
 4 

	 	(c)	The Administrative Agent shall have received a copy of the amendment to the Transaction Fee Letter, duly executed by each of the Borrower, Carlyle and the Administrative Agent. 

3. Miscellaneous. 

(a) Amended Terms. On and after the date hereof, all references to the Agreement in each of the Transaction
Documents shall hereafter mean the Agreement as amended by this First Amendment. Except as specifically amended hereby or otherwise agreed, the Agreement is hereby ratified and confirmed and shall remain in full force and effect according to its
terms. 
 (b) Representations and Warranties of the Borrower and Servicer. Each of the Borrower and the Servicer,
severally, for itself only, represents and warrants as of the date of this First Amendment as follows: 
 (i) It has taken
all necessary action to authorize the execution, delivery and performance of this First Amendment. 
 (ii) This First
Amendment has been duly executed and delivered by such Person and each of this First Amendment and the Agreement, as amended by this First Amendment constitutes such Person’s legal, valid and binding obligation, enforceable in accordance with
its terms, except as such enforceability may be subject to (A) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting creditors’ rights generally and (B) general principles of
equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). 
 (iii) No consent,
approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or first party is required in connection with the execution, delivery or performance by such Person of this First Amendment other
than such as has been met or obtained and are in full force and effect. 
 (iv) The representations and warranties set forth
in Sections 4.01, 4.02 and 4.03 of the Agreement are true and correct in all material respects as of the date hereof (except for those which expressly relate to an earlier date). 

(v) No event has occurred and is continuing which constitutes a Event of Default or an Unmatured Event of Default. 

(c) Transaction Document. This First Amendment shall constitute a Transaction Document under the terms of the Agreement.

 (d) Counterparts; Electronic Signatures; Severability; Integration. This First Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement. Delivery of an
executed counterpart of a signature page to this First Amendment by e-mail in portable document format (.pdf) or facsimile shall be effective as delivery of a manually executed counterpart of this First Amendment. 

(e) GOVERNING LAW. THIS FIRST AMENDMENT SHALL, IN ACCORDANCE WITH SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE
STATE OF NEW YORK, BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. EACH OF THE PARTIES HERETO WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN 

  
 5 

 
RESPECT OF ANY LITIGATION ARISING DIRECTLY OR INDIRECTLY OUT OF, UNDER OR IN CONNECTION WITH THIS FIRST AMENDMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREUNDER. 

(f) Successors and Assigns. This First Amendment shall be binding upon and inure to the benefit of the Borrower, the
Servicer, the Administrative Agent, each Lender, the Lender Agents, the Collateral Agent, the Account Bank, the Collateral Custodian and their respective successors and permitted assigns. 

[Signature pages to follow.] 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed as of
the date first above written. 
 THE BORROWER: 

CARLYLE GMS FINANCE SPV LLC 
  

					
	By:	 	

		 	  

		 	Name:	 	Karen Vejseli
		 	Title:	 	Chief Financial Officer

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 THE SERVICER: 

CARLYLE GMS FINANCE, INC. 
  

					
	By:	 	

		 	  

		 	Name:	 	Karen Vejseli
		 	Title:	 	Chief Financial Officer

 THE TRANSFEROR: 

CARLYLE GMS FINANCE, INC. 
  

					
	By:	 	

		 	  

		 	Name:	 	Karen Vejseli
		 	Title:	 	Chief Financial Officer

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 THE ADMINISTRATIVE AGENT: 

CITIBANK, N.A. 
  

					
	By:	 	

		 	  

		 	Name:	 	Linda Moses
		 	Title:	 	Vice President

 THE COLLATERAL AGENT: 

CITIBANK, N.A. 
  

					
	By:	 	

		 	  

		 	Name:	 	Linda Moses
		 	Title:	 	Vice President

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 THE ACCOUNT BANK, COLLATERAL CUSTODIAN AND, 

COLLATERAL ADMINISTRATOR: 
 WELLS FARGO BANK,
NATIONAL ASSOCIATION 
  

					
	By:	 	

		 	  

		 	Name:	 	Michael Roth
		 	Title:	 	Vice President

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 THE BACKUP SERVICER: 

WELLS FARGO BANK, NATIONAL ASSOCIATION 
  

					
	By:	 	

		 	  

		 	Name:	 	Marie E. Carrell
		 	Title:	 	Assistant Vice President

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 CONDUIT LENDER: 

CRC FUNDING, LLC 
 By: Citibank, N.A., as Attorney-in-Fact

  

					
	By:	 	

		 	  

		 	Name:	 	Linda Moses
		 	Title:	 	Vice President

 CRC Funding, LLC 
 c/o Citibank,
N.A. 
 750 Washington Boulevard 
 Stamford, CT 06901 

Attention: Global Securitization 
 Tel No.: (203) 975-6417

 Fax No.: (914) 274-9027 
 [SIGNATURES CONTINUE ON THE
FOLLOWING PAGE] 

 LIQUIDITY BANK AND CONDUIT LENDER: 

CIESCO, LLC 
 By: Citibank, N.A., as Attorney-in-Fact 

 

					
	By:	 	

		 	  

		 	Name:	 	Linda Moses
		 	Title:	 	Vice President

 CIESCO, LLC 
 c/o Citibank, N.A.

 750 Washington Boulevard 
 Stamford, CT 06901 

Attention: Global Securitization 
 Tel No.: (203) 975-6417

 Fax No.: (914) 274-9027 
 [SIGNATURES CONTINUE ON THE
FOLLOWING PAGE] 

 CONDUIT LENDER: 

CHARTA, LLC 
 By: Citibank, N.A., as Attorney-in-Fact 

 

					
	By:	 	

		 	  

		 	Name:	 	Linda Moses
		 	Title:	 	Vice President

 CHARTA, LLC 
 c/o Citibank, N.A.

 750 Washington Boulevard 
 Stamford, CT 06901 

Attention: Global Securitization 
 Tel No.: (203) 975-6417

 Fax No.: (914) 274-9027 
 [SIGNATURES CONTINUE ON THE
FOLLOWING PAGE] 

 CONDUIT LENDER: 
  

					
	CAFCO, LLC
	
	By: Citibank, N.A., as Attorney-in-Fact
		
	By:	 	

		 	  

		 	Name:	 	Linda Moses
		 	Title:	 	Vice President

 CAFCO, LLC 
 c/o Citibank, N.A.

 750 Washington Boulevard 
 Stamford, CT 06901 

Attention: Global Securitization 
 Tel No.: (203) 975-6417

 Fax No.: (914) 274-9027 
 [SIGNATURES CONTINUE ON THE
FOLLOWING PAGE] 

 LENDER AGENT: 
  

			
	CITIBANK, N.A.
		
	By:	 	

		 	  

	Name:	 	 Linda Moses

	Title:	 	 Vice President

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 INSTITUTIONAL LENDER: 

SUNTRUST BANK 
  

			
	By:	 	

		 	  

	Name:	 	 Emily Shields

	Title:	 	 First Vice President

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 LENDER AGENT: 
  

	
	SUNTRUST BANK

  

			
	By:	 	

		 	  

	Name:	 	 Emily Shields

	Title:	 	 First Vice President

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 INSTITUTIONAL LENDER: 

 

	
	PNC BANK, NATIONAL ASSOCIATION

  

			
	By:	 	

		 	  

	Name:	 	 Lawrence Beller

	Title:	 	 Senior Vice President

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 LENDER AGENT: 
  

	
	PNC BANK, NATIONAL ASSOCIATION

  

			
	By:	 	

		 	  

	Name:	 	 Lawrence Beller

	Title:	 	 Senior Vice President

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 INSTITUTIONAL LENDER: 

 

	
	KEY EQUIPMENT FINANCE, a division of Keybank National Association

  

			
	By:	 	

		 	  

	Name:	 	 Richard Andersen

	Title:	 	 Designated Signer

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 LENDER AGENT: 

KEY EQUIPMENT FINANCE, a division of Keybank National Association 
  

			
	By:	 	

		 	  

	Name:	 	Richard Andersen
	Title:	 	Designated Signer

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 INSTITUTIONAL LENDER: 

STATE STREET BANK AND TRUST COMPANY 
  

			
	By:	 	

		 	  

	Name:	 	Emma Wallace
	Title:	 	Vice President

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 LENDER AGENT: 

STATE STREET BANK AND TRUST COMPANY 
  

			
	By:	 	

		 	  

	Name:	 	Emma Wallace
	Title:	 	Vice President

 Annex A 

Commitments 
  

							
	 Liquidity Bank or Institutional Lender
	  	 Name of Institution
	  	Commitment	 
			
	 Liquidity Bank
	  	Ciesco, LLC	  	$	150,000,000	  
			
	 Institutional Lender
	  	SunTrust Bank	  	$	100,000,000	  
			
	 Institutional Lender
	  	PNC Bank, National Association	  	$	80,000,000	  
			
	 Institutional Lender
	  	State Street Bank and Trust Company	  	$	45,000,000	  
			
	 Institutional Lender
	  	Key Equipment Finance, a division of Keybank National Association.	  	$	25,000,000	  
		
	 AGGREGATE COMMITMENT
	  	$	400,000,000

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