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Exhibit 4.9
Description of Securities of CareDx., Inc.
The authorized capital stock of CareDx, Inc., a Delaware corporation (the “Company”), consists of:
•100,000,000 shares of common stock, $0.001 par value per share (“Common Stock”); and 
•10,000,000 shares of preferred stock, $0.001 par value per share (“Preferred Stock”).
Common Stock
•Voting rights. Each holder of Common Stock is entitled to one vote for each share on all matters to be voted upon by the stockholders. No share of Common Stock affords any cumulative voting rights. This means that the holders of a majority of the voting power of the shares voting for the election of directors can elect all directors to be elected if they choose to do so, subject to any voting rights granted to holders of any outstanding Preferred Stock. Generally, except as discussed under the heading “Effect of Certain Provisions of the Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws and the Delaware Anti-Takeover Statute” below, all matters to be voted on by stockholders must be approved by a majority of the total voting power of the Common Stock present in person or represented by proxy at a meeting at which a quorum exists, subject to any voting rights granted to holders of any outstanding Preferred Stock. Except as otherwise provided by law or in the Company’s Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) (as further discussed under the heading “Effect of Certain Provisions of the Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws and the Delaware Anti-Takeover Statute” below), and subject to any voting rights granted to holders of any outstanding Preferred Stock, amendments to the Certificate of Incorporation must be approved by a majority of the votes entitled to be cast by the holders of Common Stock.
•Dividend rights. Subject to any preferential rights of any outstanding Preferred Stock, holders of Common Stock are entitled to receive ratably the dividends, if any, as may be declared from time to time by the Company’s board of directors (the “Board”) out of funds legally available therefor. The Company has never declared or paid any cash dividend on the capital stock and does not anticipate paying any cash dividends in the foreseeable future.
•Liquidation Rights. In the event of a liquidation, dissolution or winding up, holders of Common Stock are entitled to share ratably in the Company’s assets remaining after the payment of liabilities and any preferential rights of any outstanding Preferred Stock.
•No preemptive or similar rights. Holders of Common Stock have no preemptive or conversion rights or other subscription rights, and there are no redemption or sinking fund provisions applicable to the Common Stock.
•Fully paid and non-assessable. The outstanding shares of Common Stock are fully paid and non-assessable. 

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•Preferred Stock. The rights, preferences and privileges of the holders of Common Stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of Preferred Stock that the Company may designate and issue in the future.
•Anti-Takeover Provisions. See the below section titled “Effect of Certain Provisions of the Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws and the Delaware Anti-Takeover Statute”.
Listing
The Common Stock is listed on the Nasdaq Global Market under the symbol “CDNA.”
Preferred Stock
The Board is authorized, subject to limitations prescribed by Delaware law, to issue up to 10,000,000 shares of Preferred Stock in one or more series, to establish from time to time the number of shares to be included in each series, and to fix the designation, powers, preferences, and rights of the shares of each series and any of its qualifications, limitations or restrictions, in each case without further vote or action by the stockholders. The Board can also increase or decrease the number of shares of any series of Preferred Stock, but not below the number of shares of that series then outstanding, without any further vote or action by the stockholders. The Board may authorize the issuance of Preferred Stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of Common Stock. The issuance of Preferred Stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change in control of the Company and might adversely affect the market price of the Common Stock and the voting and other rights of the holders of Common Stock. 
Warrants
As of December 31, 2019, the Company had outstanding warrants to purchase 355,240 shares of Common Stock as follows:
•a warrant to purchase an aggregate of 34,843 shares with an exercise price of $6.69, which is currently exercisable  and expires on January 30, 2020, which shall be automatically exercised on a “cashless” basis upon expiration if the fair market value of the Common Stock is greater than the exercise price of the warrant on the expiration date of the warrant; and
•warrants to purchase an aggregate of 320,757 shares with an exercise price of $1.12, all of which are currently exercisable (subject to certain beneficial ownership limitations) and expiring on June 16, 2023.
All of the outstanding warrants contain provisions for the adjustment of the exercise price in the event of stock dividends, stock splits or similar transactions. Certain of the warrants contain priced-based adjustment provisions, pursuant to which the exercise price of the warrants may be adjusted downward in the event of certain dilutive issuances by the Company. In addition, certain of the warrants contain a “cashless exercise” feature that allows the holders thereof to exercise the warrants without a cash payment to the Company under certain circumstances. Certain of the warrants also contain provisions that provide certain rights to warrantholders in the 

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event of a fundamental transaction, including a merger or consolidation with or into another entity, such as: 
•The right to receive the same amount and kind of consideration paid to the holders of Common Stock in the fundamental transaction; and 
•The right to require the Company to repurchase the unexercised portion of certain warrants at the warrant’s respective fair value using the Black Scholes option pricing formula.
Effect of Certain Provisions of the Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws and the Delaware Anti-Takeover Statute
Certain provisions of Delaware law, along with certain provisions of the Certificate of Incorporation and the Company’s Amended and Restated Bylaws (the “Bylaws”), may have the effect of delaying, deferring or discouraging another person from acquiring control of the Company and could make the following transactions more difficult:
•acquisition of the Company by means of a tender offer;
•acquisition of the Company by means of a proxy contest or otherwise; or
•removal of the Company’s incumbent officers and directors.
These provisions, summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids and to promote stability in the Company’s management. These provisions are also designed, in part, to encourage persons seeking to acquire control of the Company to first negotiate with the Board. However, these provisions could have the effect of deferring hostile takeovers or delaying, discouraging or preventing attempts to acquire the Company, which could deprive the stockholders of opportunities to sell their shares of Common Stock at prices higher than prevailing market prices.
The Certificate of Incorporation and the Bylaws
The Certificate of Incorporation and the Bylaws include a number of provisions that could deter hostile takeovers or delay or prevent changes relating to the control of the Board or management team, including the following:
•Board of Directors Vacancies. The Certificate of Incorporation and the Bylaws authorize only the Board to fill vacant directorships, including newly created seats. In addition, the number of directors constituting the Board can be set only by a resolution adopted by a majority vote of the entire Board. These provisions would prevent a stockholder from increasing the size of the Board and then gaining control of the Board by filling the resulting vacancies with the stockholder’s own nominees. This makes it more difficult to change the composition of the Board and promotes continuity of management.
•Classified Board. The Certificate of Incorporation provides that the Board is classified into three classes of directors. A third party may be discouraged from making a tender offer or otherwise attempting to obtain control of the Company as it is more difficult and time consuming for stockholders to replace a majority of the directors on a classified board of directors.

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•Stockholder Action; Special Meeting of Stockholders. The Certificate of Incorporation provides that the stockholders may not take action by written consent, but may only take action at annual or special meetings of the stockholders. As a result, a holder controlling a majority of the Company’s capital stock would not be able to amend the Bylaws or remove directors without holding a meeting of the stockholders called in accordance with the Bylaws. The Bylaws further provide that special meetings of the stockholders may be called only by a majority of the Board, the Chairperson of the Board, or the Company’s Chief Executive Officer or President, thus prohibiting a stockholder (in the capacity as a stockholder) from calling a special meeting. These provisions might delay the ability of the stockholders to force consideration of a proposal or for stockholders controlling a majority of the capital stock to take any action, including the removal of directors.
•Advance Notice Requirements for Stockholder Proposals and Director Nominations. The Bylaws provide advance notice procedures for stockholders seeking to bring business before the Company’s annual meeting of stockholders or to nominate candidates for election as directors at the annual meeting of stockholders. The Bylaws also specify certain requirements regarding the form and content of a stockholder’s notice. These provisions might preclude the stockholders from bringing matters before the annual meeting of stockholders or from making nominations for directors at the annual meeting of stockholders if the proper procedures are not followed. The Company expects that these provisions may also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s own slate of directors or otherwise attempting to obtain control of the Company.
•No Cumulative Voting. The General Corporation Law of the State of Delaware (the “DGCL”) provides that stockholders may cumulate votes in the election of directors if the corporation’s certificate of incorporation allows for such mechanism. The Certificate of Incorporation does not provide for cumulative voting.
•Directors Removed Only for Cause. The Certificate of Incorporation provides that stockholders may remove directors only for cause and only by the affirmative vote of the holders of at least 66 2/3% in voting power of the stock entitled to vote thereon.
•Issuance of Undesignated Preferred Stock. The Board has the authority, without further action by the stockholders, to issue up to 10,000,000 shares of undesignated Preferred Stock with rights and preferences, including voting rights, designated from time to time by the board of directors. The existence of authorized but unissued shares of Preferred Stock would enable the board of directors to render more difficult or to discourage an attempt to obtain control of the Company by means of a merger, tender offer, proxy contest or other means.
•Amendment of Charter Provisions. Any amendment of the above provisions in the Certificate of Incorporation with the exception of the ability of the Board to issue shares of Preferred Stock and designate any rights, preferences and privileges thereto, would require approval by the affirmative vote of the holders of at least 66 2/3% of the Company’s then outstanding Common Stock.
Delaware Anti-Takeover Statute 
The Company is subject to the provisions of Section 203 of the DGCL regulating corporate takeovers. In general, those provisions prohibit a public Delaware corporation from engaging in 

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any business combination with any interested stockholder for a period of three years following the date that the stockholder became an interested stockholder, unless:
•the transaction is approved by the board of directors before the date the interested stockholder attained that status;
•upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced; or
•on or after the date of the transaction, the transaction is approved by the board of directors and authorized at a meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder.
In general, Section 203 of the DGCL defines a business combination to include the following:
•any merger or consolidation involving the corporation and the interested stockholder;
•any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;
•subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder;
•any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; or
•the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.
In general, Section 203 of the DGCL defines an interested stockholder as any entity or person beneficially owning, or who within three years prior to the time of determination of interested stockholder status did own, 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by any such entity or person.
A Delaware corporation may opt out of this provision by express provision in its original certificate of incorporation or by amendment to its certificate of incorporation or bylaws approved by its stockholders. However, the Company has not opted out of, and does not currently intend to opt out of, this provision. The statute could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may discourage attempts to acquire the Company.

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Exhibit 10.10
CareDx, Inc.
OUTSIDE DIRECTOR COMPENSATION POLICY
Effective as of July 17, 2014
Most Recently Amended Effective as of April 18, 2019
CareDx, Inc. (the “Company”) believes that the granting of equity and cash compensation to its members of the Board of Directors (the “Board,” and members of the Board, the “Directors”) represents an effective tool to attract, retain and reward Directors who are not employees of the Company (the “Outside Directors”). This Outside Director Compensation Policy (the “Policy”) is intended to formalize the Company’s policy regarding cash compensation and grants of equity to its Outside Directors.  Unless otherwise defined herein, capitalized terms used in this Policy will have the meaning given such term in the Company’s 2014 Equity Incentive Plan (the “Plan”). Each Outside Director will be solely responsible for any tax obligations incurred by such Outside Director as a result of the equity and cash payments such Outside Director receives under this Policy.
1. RETAINERS
BOARD MEMBERSHIP
Chairman of Board: $80,000 Annual Retainer
Outside Directors (including Chairman): $40,000 Annual Retainer
AUDIT COMMITTEE
Annual compensation for Audit Committee members is as follows:
Chairman of Committee: $20,000 Annual Retainer
Committee Members (other than Chairman) $10,000 Annual Retainer
COMPENSATION COMMITTEE
Annual compensation for the Compensation Committee is as follows:
Chairman of Committee: $12,000 Annual Retainer
Committee Members (other than Chairman) $6,000 Annual Retainer
NOMINATING/CORPORATE GOVERNANCE COMMITTEE
Compensation for the Nominating Committee is as follows:
Chairman of Committee: $10,000 Annual Retainer
Committee Members (other than Chairman): $5,000 Annual Retainer
SCIENCE & TECHNOLOGY COMMITTEE
Compensation for the Science & Technology Committee is as follows:
Chairman of Committee: $10,000 Annual Retainer

Committee Members (other than Chairman): $5,000 Annual Retainer
There are no per meeting attendance fees for attending Board, Audit Committee, Compensation Committee, Nominating Committee and/or Science & Technology Committee meetings.
Retainers (other than chairman retainers) will be paid quarterly in arrears on a prorated basis.
The retainers will be paid in shares of Company common stock (“Shares”) and/or in cash. Each Director can elect the ratio of Shares to cash for the payment of these retainers by notifying the Company in writing (with email notification being sufficient). Such elections will be effective commencing in the first quarter after the quarter in which they are made. For purposes of determining the payment of the retainer, Shares will be valued at the average closing price in the quarter for which the retainer is paid.  
2. EQUITY COMPENSATION
Outside Directors will be entitled to receive all types of Awards (except Incentive Stock Options) under the Plan (or the applicable equity plan in place at the time of grant), including discretionary Awards not covered under this Policy. All grants of Awards to Outside Directors pursuant to Section 2 of this Policy will be automatic and nondiscretionary, except as otherwise provided herein, and will be made in accordance with the following provisions:
(a) No Discretion. No person will have any discretion to select which Outside Directors will be granted any Awards under this Policy or to determine the number of Shares to be covered by such Awards.
(b) Appointment Awards. Subject to Section 11 of the Plan, upon an Outside Director’s appointment to the Board, such Outside Director automatically will be granted (i) a Nonstatutory Stock Option to purchase Shares having a grant date fair value of $150,000, rounded down to the nearest whole share (the “NSO Appointment Award”), and (ii) Restricted Stock Units having a grant date fair value of $150,000, rounded down to the nearest whole share (the “RSU Appointment Award”). Subject to Section 5 below and Section 14 of the Plan, each NSO Appointment Award will vest, in thirty-six (36), equal, monthly installments beginning with the first monthly anniversary after the grant date, and each RSU Appointment Award will vest in three (3), equal, annual installments beginning with the first annual anniversary after the grant date. Each NSO Appointment Award and RSU Appointment Award will vest fully upon a Change in Control (as defined in the Plan), in each case, provided that the Outside Director continues to serve as a Service Provider through the applicable vesting date or Change in Control, as applicable.
(c) Annual Awards. Subject to Section 11 of the Plan, on the date of each Annual Meeting of the Company’s stockholders (the “Annual Meeting”) beginning with the 2019 Annual Meeting, each Outside Director automatically will be granted (i) a Nonstatutory Stock Option to purchase Shares having a grant date fair value of $100,000, rounded down to the nearest whole share (the “Annual NSO Award”), and (ii) Restricted Stock Units having a grant date fair value of $100,000, rounded down to the nearest whole share (the “Annual RSU Award”). Subject to Section 5 below and Section 14 of the Plan, each Annual NSO Award will vest in twelve (12), equal, monthly installments beginning with the first monthly anniversary after the grant date, and each Annual RSU Award will vest in one (1) installment on the one year anniversary of the grant date. Each Annual NSO Award and Annual RSU Award will vest fully upon a Change in Control (as defined in the Plan), in each case, provided that the Outside Director continues to serve as a Service Provider through the applicable vesting date or Change in Control, as applicable.

(d) Terms Applicable to all Options Granted Under this Policy.  The per Share exercise price for all other Options granted under this Outside Director Compensation Policy will be one hundred percent (100%) of the Fair Market Value on the grant date.
3. TRAVEL EXPENSES
Each Outside Director’s reasonable, customary and documented travel expenses to Board meetings will be reimbursed by the Company.
4. ADDITIONAL PROVISIONS
All provisions of the Plan not inconsistent with this Policy will apply to Awards granted to Outside Directors.
5. ADJUSTMENTS
In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company or other change in the corporate structure of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under this Policy, will adjust the number of Shares issuable pursuant to Awards granted under this Policy.
6. REVISIONS
The Board in its discretion may change and otherwise revise the terms of Awards granted under this Policy, including, without limitation, the number of Shares subject thereto, for Awards of the same or different type granted on or after the date the Board determines to make any such change or revision.

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