Document:

Form of Warrant to Purchase Series A Preferred Stock of Registrant

 Exhibit 10.14 
 THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT
REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT. 
  

			
		 	Date of Issuance        
	Void after 	 	

 FORCE10 NETWORKS, INC. 
 WARRANT TO PURCHASE SERIES E PREFERRED STOCK 
 This Warrant is issued to
                                         
                        (“Holder”) by Force10 Networks, Inc., a Delaware corporation (the “Company”),
on                                  (the “Warrant Issue Date”).

 1. Purchase Shares. Subject to the terms and conditions hereinafter set forth, the Holder is entitled, upon surrender
of this Warrant at the principal office of the Company (or at such other place as the Company shall notify the holder hereof in writing), to purchase from the Company up to one thousand eight hundred twenty-five
(          ) fully paid and nonassessable shares of Series E Preferred Stock of the Company, as constituted on the Warrant Issue Date (the “Preferred Stock”). The number of
shares of Preferred Stock issuable pursuant to this Section 1 (the “Shares”) shall be subject to adjustment pursuant to Section 8 hereof. 
 2. Exercise Price. The purchase price for the Shares shall be $           per share, as adjusted from time to time pursuant to Section 8
hereof (the “Exercise Price”). 
 3. Exercise Period. This Warrant shall be exercisable, in whole or in
part, during the term commencing on the Warrant Issue Date and ending at 5:00 p.m. on
                             provided, however, that in the event of (a) the closing of the issuance and
sale of shares of Common Stock of the Company in the Company’s first underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “IPO”), (b) the closing of the
Company’s sale or transfer of all or substantially all of its assets, or (c) the closing of the acquisition of the Company by another entity by means of merger, consolidation or other transaction or series of related transactions,
resulting in the exchange of the outstanding shares of the Company’s capital stock such that the stockholders of the Company prior to such transaction own, directly or indirectly, less than 50% of the voting power of the surviving entity, this
Warrant shall, on the date of such event, no longer be exercisable and become null and void. In the event of a proposed transaction of the kind described above, the Company shall notify the holder of the Warrant at least fifteen (15) days prior
to the consummation of such event or transaction. 
 4. Method of Exercise. While this Warrant remains outstanding and,
exercisable in accordance with Section 3 above, the Holder may exercise, in whole or in part, the purchase rights evidenced hereby, Such exercise shall be effected by: 
 (a) the surrender of the Warrant, together with a duly executed copy of the form of Notice of Election attached hereto, to the Secretary of
the Company at its principal offices; and 
  

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 (b) the payment to the Company of an amount equal to the aggregate Exercise Price for the
number of Shares being purchased. 
 5. Net Exercise. In lieu of exercising this Warrant pursuant to Section 4, the
Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Preferred Stock equal to the value of this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office
of the Company together with notice of such election, in which event the Company shall issue to the holder hereof a number of shares of Preferred Stock computed using the following formula: 
  

					
		 	 X =
	  	Y (A - B)
		 	  	      A

  

							
		 	 Where:
	  	X =	  	The number of shares of Preferred Stock to be issued to the Holder pursuant to this net exercise;
				
		 		  		  	Y = The number of Shares in respect of which the net issue election is made;
				
		 		  		  	A = The fair market value of one share of the Preferred Stock at the time the net issue election is made;
				
		 		  		  	B = The Exercise Price (as adjusted to the date of the net issuance).

 For purposes of this Section 5, the fair market value of one share of Preferred Stock (or, to
the extent all such Preferred Stock has been converted into the Company’s Common Stock, the fair market value of one share of Common Stock) as of a particular date shall be determined as follows: (i) if traded on a securities exchange or
through the Nasdaq National Market, the value shall be deemed to be the average of the closing prices of the securities on such exchange over the thirty (30) day period ending three (3) days prior to the net exercise election; (ii) if
traded over-the-counter, the value shall be deemed to be the average of the closing bid or sale prices (whichever is applicable) over the thirty (30) day period ending three (3) days prior to the net exercise; and (iii) if there is no
active public market, the value shall be the fair market value thereof, as determined in good faith by the Board of Directors of the Company; provided, that, if the Warrant is being exercised upon the closing of the IPO, the value will be the
initial “Price to Public” of one share of such Preferred Stock (or Common Stock issuable upon conversion of such Preferred Stock) specified in the final prospectus with respect to such offering. 
 6. Certificates for Shares. Upon the exercise of the purchase rights evidenced by this Warrant, one or more certificates for the
number of Shares so purchased shall be issued as soon as practicable thereafter (with appropriate restrictive legends, if applicable), and in any event within thirty (30) days of the delivery of the subscription notice. 
 7. Issuance of Shares. The Company covenants that the Shares, when issued pursuant to the exercise of this Warrant, will be duly and
validly issued, fully paid and nonassessable and free from all taxes, liens, and charges with respect to the issuance thereof. 
  

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 8. Adjustment of Exercise Price and Number of Shares. The number of and kind of
securities purchasable upon exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time as follows: 
 (a) Subdivisions, Combinations and Other Issuances. If the Company shall at any time prior to the expiration of this Warrant subdivide its Preferred Stock, by split-up or otherwise, or combine its
Preferred Stock, or issue additional shares of its Preferred Stock or Common Stock as a dividend with respect to any shares of its Preferred Stock, the number of Shares issuable on the exercise of this Warrant shall forthwith be proportionately
increased in the case of a subdivision or stock dividend, or proportionately decreased in the case of a combination. Appropriate adjustments shall also be made to the purchase price payable per share, but the aggregate purchase price payable for the
total number of Shares purchasable under this Warrant (as adjusted) shall remain the same. Any adjustment under this Section 8(a) shall become effective at the close of business on the date the subdivision or combination becomes effective, or
as of the record date of such dividend, or in the event that no record date is fixed, upon the making of such dividend. 
 (b)
Reclassification, Reorganization and Consolidation. In case of any reclassification, capital reorganization, or change in the Preferred Stock of the Company (other than as a result of a subdivision, combination, or stock dividend provided for
in Section 8(a) above), then, as a condition of such reclassification, reorganization, or change, lawful provision shall be made, and duly executed documents evidencing the same from the Company or its successor shall be delivered to the
Holder, so that the Holder shall have the right at any time prior to the expiration of this Warrant to purchase, at a total price equal to that payable upon the exercise of this Warrant, the kind and amount of shares of stock and other securities
and property receivable in connection with such reclassification, reorganization, or change by a holder of the same number of shares of Preferred Stock as were purchasable by the Holder immediately prior to such reclassification, reorganization, or
change. In any such case appropriate provisions shall be made with respect to the rights and interest of the Holder so that the provisions hereof shall thereafter be applicable with respect to any shares of stock or other securities and property
deliverable upon exercise hereof, and appropriate adjustments shall be made to the purchase price per share payable hereunder, provided the aggregate purchase price shall remain the same. 
 (c) Notice of Adjustment. When any adjustment is required to be made in the number or kind of shares purchasable upon exercise of the
Warrant, or in the Warrant Price, the Company shall promptly notify the holder of such event and of the number of shares of Preferred Stock or other securities or property thereafter purchasable upon exercise of this Warrant. 
 9. Representations of Holder. With respect to this Warrant, Holder represents and warrants to the Company as follows: 
 (a) Experience. It is experienced in evaluating and investing in companies engaged in businesses similar to that of the Company; it
understands that investment in the Warrant involves substantial risks; it has made detailed inquiries concerning the Company, its business and services, its officers and its personnel; the officers of the Company have made available to Holder any
and all written information it has requested; the officers of the Company have answered to

  

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Holder’s satisfaction all inquiries made by it; in making this investment it has relied upon information made available to it by the Company; and it has such knowledge and experience in
financial and business matters that it is capable of evaluating the merits and risks of investment in the Company and it is able to bear the economic risk of that investment. 
 (b) Investment. It is acquiring the Warrant for investment for its own account and not with a view to, or for resale in connection
with, any distribution thereof. It understands that the Warrant, the shares of Preferred Stock issuable upon exercise thereof and the shares of Common Stock issuable upon conversion of the Preferred Stock, have not been registered under the
Securities Act of 1933, as amended, nor qualified under applicable state securities laws. 
 (c) Rule 144. It
acknowledges that the Warrant, the Preferred Stock and the Common Stock must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. It has been advised or is aware
of the provisions of Rule 144 promulgated under the Securities Act. 
 (d) Access to Data. It has had an opportunity to
discuss the Company’s business, management and financial affairs with the Company’s management and has had the opportunity to inspect the Company’s facilities. 
 10. No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of
this Warrant, but in lieu of such fractional shares the Company shall make a cash payment therefor on the basis of the Exercise Price then in effect. 
 11. No Stockholder Rights. Prior to exercise of this Warrant, the Holder shall not be entitled to any rights of a stockholder with respect to the Shares, including (without limitation) the right to
vote such Shares, receive dividends or other distributions thereon, exercise preemptive rights or be notified of stockholder meetings, and such holder shall not be entitled to any notice or other communication concerning the business or affairs of
the Company. However, nothing in this Section 11 shall limit the right of the Holder to be provided the Notices required under this Warrant. 
 12. Transfers of Warrant. Subject to compliance with applicable federal and state securities laws, this Warrant and all rights hereunder are transferable in whole or in part by the Holder to any
person or entity upon written notice to the Company. The transfer shall be recorded on the books of the Company upon the surrender of this Warrant, properly endorsed, to the Company at its principal offices, and the payment to the Company of all
transfer taxes and other governmental charges imposed on such transfer. In the event of a partial transfer, the Company shall issue to the holders one or more appropriate new warrants. 
 13. Successors and Assigns. The terms and provisions of this Warrant and the Purchase Agreement shall inure to the benefit of, and be
binding upon, the Company and the Holders hereof and their respective successors and assigns. 
 14. Amendments and
Waivers. Any term of this Warrant may be amended and the observance of any term of this Warrant may be waived (either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company and
the Holder. 
  

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 15. Market Stand-Off. Each Holder agrees in connection with the Company’s
initial public offering of the Company’s securities, upon request of the Company or the underwriters managing any underwritten offering of the Company’s securities, not to sell, make any short sale of, loan, grant any option for the
purchase of, or otherwise dispose of any Registrable Securities (other than those included in the registration) without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to exceed one
hundred eighty (180) days) from the effective date of such registration as may be requested by the underwriters. Each Holder further agrees to enter into a separate agreement providing for the foregoing, as may be required by the underwriters.

 16. Notices. All notices required under this Warrant shall be deemed to have been given or made for all purposes
(i) upon personal delivery, (ii) upon confirmation receipt that the communication was successfully sent to the applicable number if sent by facsimile; (iii) one day after being sent, when sent by professional overnight courier
service, or (iv) five days after posting when sent by registered or certified mail. Notices to the Company shall be sent to the principal office of the Company (or at such other place as the Company shall notify the Holder hereof in writing).
Notices to the Holder shall be sent to the address of the Holder on the books of the Company (or at such other place as the Holder shall notify the Company hereof in writing). 
 17. Attorneys’ Fees. If any action of law or equity is necessary to enforce or interpret the terms of this Warrant, the
prevailing party shall be entitled to its reasonable attorneys’ fees, costs and disbursements in addition to any other relief to which it may be entitled. 
 18. Captions. The section and subsection headings of this Warrant are inserted for convenience only and shall not constitute a part of this Warrant in construing or interpreting any provision
hereof. 
 19. Governing Law. This Warrant shall be governed by the laws of the State of California as applied to
agreements among California residents made and to be performed entirely within the State of California. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Warrant to be executed by an officer
thereunto duly authorized. 
  

			
	FORCE10 NETWORKS, INC.
		
	 By:
	 	  

		 	Marc Randall
		 	President and Chief Executive Officer

  

			
	 ACKNOWLEDGED AND AGREED:

	
	

  

			
	By:	 	  

  

			
	Name:	 	  

  

			
	Title:	 	  

  

			
	Address:	 	  

	
	  

	
	  

  

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 NOTICE OF EXERCISE 
 To: FORCE10 NETWORKS 
  

					
		 	 The undersigned hereby elects to [check applicable subsection]:

			
	             
	 	 (a)
	  	Purchase                      shares of Series
         Preferred Stock of                     , pursuant to the terms of the attached Warrant and payment
of the Exercise Price per share required under such Warrant accompanies this notice;
			
		 	 OR
	  	
			
	             
	 	 (b)
	  	Exercise the attached Warrant for [all of the shares] [         of the shares] purchasable under the Warrant pursuant to the net
exercise provisions of Section 5 of such Warrant.

 The undersigned hereby represents and warrants that the
undersigned is acquiring such shares for its own account for investment purposes only, and not for resale or with a view to distribution of such shares or any part thereof. 
  

			
	WARRANTHOLDER:
	
	  

		
	By:	 	  

		 	[NAME]
		
	Address:	 	  

		
		 	  

 Date:                      
 Name in which shares should be registered: 
                                         
                     
  

 7Form of Warrant to Purchase Series A Preferred Stock of Registrant

 Exhibit 10.15 
 WARRANT 
 TO PURCHASE SHARES OF SERIES A-1 PREFERRED
STOCK 
 OF 
 Turin Networks, Inc. 
 A Delaware Corporation 
 THIS WARRANT HAS BEEN, AND THE SHARES OF SERIES A-1 PREFERRED STOCK WHICH MAY BE PURCHASED PURSUANT TO THE EXERCISE OF THIS WARRANT (THE “WARRANT
SHARES”) WILL BE, ACQUIRED SOLELY FOR INVESTMENT AND NOT WITH A VIEW TO, OR FOR RESALE IN CONNECTION WITH, ANY DISTRIBUTION THEREOF. NEITHER THIS WARRANT OR THE WARRANT SHARES (TOGETHER, THE “SECURITIES”) HAVE BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF SUCH REGISTRATION OR AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH DISPOSITION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE SECURITIES ACT AND OF ANY APPLICABLE STATE SECURITIES LAWS. 
  

			
	Warrant No.:                     	  	Issuance Date:                     

 THIS CERTIFIES THAT, for value received,
                                         
                (the “Holder”) is entitled to subscribe for a purchase from Turin Networks, Inc., a Delaware Corporation (the “Company”),
                     fully paid and nonassessable shares (as adjusted pursuant to Section 2 hereof) (the “Warrant Shares”) of Series
A-1 Preferred Stock of the Company (“Series A-1 Preferred Stock”) at the purchase price of $         per share (as adjusted pursuant to Section 2 hereof) (the “Exercise Price”), upon
the terms and subject to the conditions hereinafter set forth: 
 1. EXERCISE RIGHTS. 
 (a) Cash Exercise. The purchase rights represented by this Warrant may be exercised by the Holder at any time and from time to time
during the term hereof, in whole or in part, by delivery to the principal offices of the Company of this Warrant and a completed and duly executed Notice of Cash Exercise, in the form attached as Exhibit “A” hereto, accompanied by payment
to the Company of an amount equal to the Exercise Price then in effect multiplied by the number of Warrant Shares to be purchased by the Holder in connection with such cash exercise of this Warrant, which amount may be paid, at the election of the
Holder, by wire transfer to an account designated by the Company or delivery of a certified check payable to the order of the Company. 
 (b) Net Issue Exercise. 
 (i) In lieu of exercising the purchase rights represented by this Warrant on a cash
basis pursuant to Section 1(a) hereof, the Holder may elect to exercise such rights represented by this Warrant at any time and from time to time during the term hereof, in whole or in part, on a net-issue basis (the “Net Exercise
Right”) by electing to receive the number of Warrant Shares which are equal

  

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in value to the value of this Warrant (or any portion thereof to be canceled in connection with such Net Exercise Right) at the time of any such exercise of the Net Exercise Right, by delivery to
the principal offices of the Company of this Warrant and a completed and duly executed Notice of Net-Issue Exercise, in the form attached as Exhibit “B” hereto, properly marked to indicate (A) the number of Warrant Shares to be
delivered to the Holder in connection with such exercise of the Net Exercise Right, (B) the number of Warrant Shares with respect to which the Warrant is being surrendered in payment of the aggregate Exercise Price for the Warrant Shares to be
delivered to the Holder in connection with such net-issue exercise, and (C) the number of Warrant Shares which remain subject to the Warrant after such exercise of the Net Exercise Right, if any (each as determined in accordance with
Section1(b)(ii) hereof). 
 (ii) In the event that the Holder shall elect to exercise the rights represented by this Warrant in
whole or in part pursuant to the Net Exercise Rights Provided in this Section 1(b), the Company shall issue to the Holder the number of Warrant Shares determined in accordance with the following formula: 
  

	
	X = Y(A-B)
	      A

 X = the number of Warrant Shares to be issued to the Holder in connection with such
Net Exercise Right. 
 Y = the number of Warrant Shares subject to this Warrant and surrendered pursuant to the Net Exercise
Right. 
 A = the Fair Market Value of one share of Series A-1 Preferred Stock or (if all shares of Series A-1 Preferred Stock
have been converted into Common Stock or if this Warrant is being exercised in connection with the Company’s IPO (as hereinafter defined)) Common Stock. 
 B = the Exercise Price in effect as of the date of exercise of the Net Exercise Right (as adjusted pursuant to Section 2 hereof.) 
 (c) Fair Market Value. For purposes of this Section 1, the “Fair Market Value” of the Series A-1 Preferred Stock or
Common Stock shall have the following meanings: 
 (i) If the Company’s Series A-1 Preferred Stock or its Common Stock is
not listed for trading on a national securities exchange or admitted for trading on a national market system, then the Fair Market Value of the Series A-1 Preferred Stock or Common Stock shall be deemed to be the fair market value of Series A-1
Preferred Stock or Common Stock as determined in good faith and in the sole discretion of the Board of Directors of the Company (the “Board of Directors”) from time to time, and receipt and acknowledgment of this Warrant by the Holder
shall be deemed to be an acknowledgment and acceptance of any such determination of the fair market value of Series A-1 Preferred Stock or Common Stock, as applicable, by the Board of Directors as the final and binding determination of such fair
market value of purposes of this Warrant. 
  

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 (ii) If the Company’s Series A-1 Preferred Stock or its Common Stock is listed for
trading on a national securities exchange or admitted for trading on a national market system, then the per share Fair Market Value of the Series A-1 Preferred or Common Stock shall be deemed to be the closing price quoted on the NASDAQ National
Market exchange on which the Company’s Series A-1 Preferred or Common Stock is listed for trading, or if not so listed, the average of the closing bid and asked prices for the Company’s Series A-1 Preferred or Common Stock quoted on the
Over-the-Counter Summary, each as published in the Western Edition of The Wall Street Journal, for the ten (10) trading days prior to the date of determination of Fair Market Value in accordance herewith. 
 (iii) If the Net Exercise Right provided for in Section 1(b) is exercised in connection with and contingent upon the Company’s
initial public offering pursuant to a firm commitment underwriting and a registration statement filed under the Securities Act of 1933, as amended, covering the offer and sale of the Company’s Common Stock for the account of the Company (the
“IPO”), and if the Company’s registration statement relating to such offering has been declared effective by the Securities and Exchange Commission (the “SEC”), then the initial “Price to the Public” as specified
in the final prospectus shall be deemed the “Fair Market Value” of such Common Stock. 
 (d) Additional Conditions
to Exercise of Warrant. Unless there is a registration statement declared or ordered effective by the Securities and Exchange Commission (the “Commission”) under the Securities Act which includes the Warrant Shares to be issued upon
the exercise of the rights represented by this Warrant, such rights may not be exercised unless and until: 
 (i) the Company
shall have received an Investment Representation Statement in the form attached as Exhibit “C” hereto, certifying that, among other things, the Warrant Shares to be issued upon the exercise of the rights represented by this Warrant are
being acquired for investment and not with a view to any sale or distribution thereof; and 
 (ii) each certificate evidencing
the Warrant Shares to be issued upon the exercise of the rights represented by this Warrant shall be stamped or imprinted with a legend substantially in the following form: 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”)
AND ARE “RESTRICTED SECURITIES” AS DEFINED IN RULE 144 PROMULGATED UNDER THE SECURITIES ACT. SUCH SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE DISTRIBUTED EXCEPT (i) PURSUANT TO A REGISTRATION
STATEMENT DECLARED OR ORDERED EFFECTIVE BY THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT COVERING SUCH SECURITIES, OR (ii) IN COMPLIANCE WITH RULE 144, OR 

  

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(iii) PURSUANT TO AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF SUCH SECURITIES THAT SUCH REGISTRATION OR RULE 144 COMPLIANCE IS NOT REQUIRED UNDER THE SECURITIES ACT AS TO SUCH
SALE, OFFER OF SALE, PLEDGE, HYPOTHECATION OR OTHER DISTRIBUTION. THIS CERTIFICATE MUST BE SURRENDERED TO THE ISSUER HEREOF OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE TRANSFER OF ANY INTEREST IN THE SECURITIES REPRESENTED HEREBY. 

 (e) Fractional Shares. Upon the exercise of the rights represented by this Warrant, the Company shall not be obligated
to issue fractional shares of Series A-1 Preferred Stock or Common Stock, as applicable, and in lieu thereof, the Company shall pay to the Holder an amount in cash equal to the Fair Market Value per share of such Series A-1 Preferred Stock or Common
Stock, as applicable, immediately prior to such exercise multiplied by such fraction (rounded to the nearest cent). 
 (f)
Record Ownership of Warrant Shares. The Warrant Shares shall be deemed to have been issued, and the person in whose name any certificate representing Warrant Shares shall be issuable upon the exercise of the rights represented by this Warrant
(as indicated in the appropriate Notice of Exercise) shall be deemed to have become the holder of record of (and shall be treated for all purposes as the record holder of) the Warrant Shares represented thereby, immediately prior to the close of
business on the date or dates upon which the rights represented by this Warrant are exercised in accordance with the terms hereof. 
 (g) Stock Certificates. In the event of any exercise of the rights represented by this Warrant, certificates for the Warrant Shares so purchased pursuant hereto shall be delivered to the Holder within a reasonable time and, unless
this Warrant has been fully exercised or has expired, a new Warrant representing the Warrant Shares with respect to which this Warrant shall not have been exercised shall also be issued to the Holder within such time. 
 (h) Issue Taxes. The issuance of certificates for shares of Series A-1 Preferred Stock upon the exercise of the rights represented by
this Warrant shall be made without charge to the Holder for any issuance tax in respect thereof, provided, however, that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and
delivery of any certificate in a name other than that of the Holder of the Warrant, and no such issuance or delivery shall be made unless and until the person requesting the issuance thereof shall have paid to the Company the amount of such tax or
shall have established to the satisfaction of the Company that such tax has been paid. 
  

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 2. ADJUSTMENT RIGHTS. 
 (a) Right to Adjustment. The number of Warrant Shares purchasable upon the exercise of the rights represented by this Warrant, and the
Exercise Price therefor, shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 
 (i) Reclassifications. In the event of a reclassification of the Series A-1 Preferred Stock other than a change in par value or from par value to no par value, by stock split, stock dividend, subdivision, reverse stock split,
consolidation or combination thereof as provided by subsection (ii) below, the Company shall execute a new Warrant, the terms of which provide that the holder of this Warrant shall have the right to exercise the rights represented by such new
Warrant, and procure upon such exercise and payment of the same aggregate Exercise Price then in effect, in lieu of the shares of Series A-1 Preferred Stock theretofore issuable upon exercise of the rights represented by this Warrant, the kind and
amount of shares of stock, other securities, money and property receivable upon such reclassification by a holder of an equivalent number of shares of Series A-1 Preferred Stock. Such new Warrant shall provide for adjustments, which are as
equivalent as practicable to the adjustments provided for in this Section 2. Notwithstanding the foregoing, no adjustment of this Warrant or Issuance of any new warrant shall be required to the extent the number of Warrant Shares and Exercise
Price of this Warrant have already been adjusted pursuant to any other subsection of this Section 2(a). The provisions of this Section 2(a)(i) shall apply with equal force and effect to all successive reclassifications of the Series A-1
Preferred Stock. 
 (ii) Stock Splits, Dividends, Combinations and Consolidations. In the event of a stock split, stock
dividend or subdivision of or in respect of the outstanding shares of Series A-1 Preferred Stock, the number of Warrant Shares issuable upon the exercise of the rights represented by this warrant immediately prior to such stock split, stock dividend
or subdivision shall be proportionately increased and the Exercise Price then in effect shall be proportionately decreased, effective at the close of business on the date of such stock split, stock dividend or subdivision, as the case may be. In the
event of a reverse stock split, consolidation, combination or other similar event of or in respect of the outstanding shares of Series A-1 Preferred Stock, the number of Warrant Shares issuable upon the exercise of the rights represented by this
Warrant immediately prior to such reverse stock split, consolidation, combination or other similar event shall be proportionately decreased and the Exercise Price shall be proportionately increased, effective at the close of business on the date of
such reverse stock split, consolidation, combination or other similar event, as the case may be. Notwithstanding the foregoing, no adjustment of this Warrant shall be required to the extent the number of Warrant Shares and Exercise Price of this
Warrant have already been adjusted pursuant to any other subsection of this Section 2(a). The provisions of this Section 2(a)(ii) shall apply with equal force and effect to all successive stock splits, stock dividends, subdivisions,
reverse stock splits, consolidations, combinations or other similar events of the Series A-1 Preferred Stock. 
 (iii)
Mergers and Consolidations; Sales of Assets or Stock. In the event of (1) a merger or consolidation of the Company with or into another corporation, limited liability company, general or limited partnership, joint venture, association or
other legal entity (other than a merger or consolidation pursuant to which the Company is the surviving corporation and the stockholders of the Company immediately preceding such merger or consolidation continue to own at least fifty percent
(50%) of the capital stock of the Company entitled to vote following the closing of such merger or consolidation and which does not result in any reclassification of the Warrant Shares issuable upon the exercise of the rights represented by
this Warrant), or (2) the sale of all or substantially all of the assets or capital stock of the Company, the Company, or any successor corporation or other legal entity, as the case may be, shall execute a new Warrant, the terms of which
provide that the holder of this Warrant shall have the right to exercise the rights

  

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represented by such new Warrant, and procure upon such exercise and payment of the same aggregate Exercise Price then in effect, in lieu of the shares of Series A-1 Preferred Stock theretofore
issuable upon exercise of the rights represented by this Warrant, the kind and amount of shares of stock, other securities, money and property receivable upon such merger, consolidation or sale of assets or capital stock by a holder of an equivalent
number of shares of Series A-1 Preferred Stock. Such new Warrant shall provide for adjustments, which are as equivalent as practicable to the adjustments provided for In this Section 2. Notwithstanding the foregoing, no adjustment of this
Warrant or issuance of any new warrant shall be required to the extent the number of Warrant Shares and Exercise Price of this Warrant have already been adjusted pursuant to any other subsection of this Section 2(a). The provisions of this
Section 2(a)(iii) shall apply with equal force and effect to all successive mergers, consolidations and sales of assets and capital stock of the Series A-1 Preferred Stock. 
 (b) Adjustment Notices. Upon any adjustment of the Exercise Price, and any increase or decrease in the number of warrant shares
subject to this Warrant, in accordance with this Section 2, the Company, within sixty (60) days thereafter, shall give written notice thereof to the Holder at the address of such Holder as shown on the books of the Company, which notice
shall state the Exercise Price as adjusted and, if applicable, the increased or decreased number of Warrant Shares subject to this Warrant, setting forth in reasonable detail the method of calculation of each such adjustment. 
 (c) Conversion of Series A-1 Preferred Stock. In the event that all shares of Series A-1 Preferred Stock have converted into Common
Stock and no shares of Series A-1 Preferred Stock are then outstanding, this Warrant shall thereafter (subject to the termination provisions contained in Section 8) entitle the Holder to purchase such number of shares of the Company’s
Common Stock (the “Issuable Common Stock”) equal to the number of Warrant Shares remaining issuable upon exercise of this Warrant multiplied by the number of shares of Common Stock into which one share of the Company’s Series A-1
Preferred Stock was convertible as determined by the last such conversion to occur for the last share of Series A-1 Preferred previously outstanding. The Exercise Price then in effect shall be adjusted to equal the Exercise Price immediately prior
to the conversion of the last share of Series A-1 Preferred Stock multiplied by a fraction, the numerator of which equals the number of Warrant Shares remaining issuable upon exercise of this Warrant and the denominator of which equals the number of
shares of Common Stock issuable pursuant to this Warrant immediately after the last such conversion to occur for the last share of Series A-1 Preferred previously outstanding. 
 3. TRANSFER OF WARRANT. 
 (a) Requirements for Transfer. This
Warrant and the rights represented hereby are not transferable, except in accordance with the conditions set forth in this Section 3. In order to effect any transfer of all or a portion of this Warrant or the Warrant Shares, the Holder hereof
shall deliver to the Company a completed and duly executed Notice of Transfer, in the form attached as Exhibit “D” hereto. 
  

 6 

 (b) Additional Conditions to Transfer of Warrant. Unless there is a registration
statement declared or ordered effective by the commission under the Securities Act which includes this Warrant and the Warrant Shares issuable pursuant hereto, the Warrant may not be transferred unless and until: 
 (i) the Company shall have received an Investment Representation Statement, in the form attached as Exhibit “E” hereto, certifying
that, among other things, this Warrant is being acquired for investment and not with a view to any sale or distribution thereof, 
 (ii) the Company shall have received a written notice from the Holder which describes the manner and circumstances of the proposed transfer, and 
 (iii) a written opinion of Holder’s legal counsel, in form and substance reasonably satisfactory to the Company, stating that such transfer is exempt from the registration and prospectus delivery
requirements of the Securities Act and all applicable state securities laws and any other evidence of compliance with all applicable securities laws reasonably requested by the Company. 
 4. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company hereby represents and warrants to the Holder as follows: 
 (a) This Warrant has been duly authorized and validly executed and delivered by the Company and constitutes a valid and legally binding
obligation of the Company enforceable against the Company in accordance with its terms. 
 (b) The Warrant Shares have been duly
and validly authorized and reserved for issuance by the Company upon the exercise of the rights represented by this Warrant and, when issued upon the exercise of such rights in accordance with the terms and conditions hereof, the Warrant Shares will
be (A) duly authorized and validly issued, fully paid and nonassessable shares of Series A-1 Preferred Stock, (B) free from all preemptive rights, rights of first refusal or first offer, taxes, liens, charges or other encumbrances with
respect to the issuance thereof by the Company, and (C) free of any restrictions on the transfer thereof other than restrictions on transfer under applicable federal and state securities laws. At all times during the term hereof, the Company
shall have authorized and reserved for issuance a sufficient number of shares of Series A-1 Preferred Stock to provide for the exercise of the rights represented by this Warrant. 
 (c) The due execution and delivery of this Warrant are not, and the issuance of the Warrant Shares upon the exercise of the rights
represented by this Warrant in accordance with the terms hereof will not, conflict with the Certificate of Incorporation or Bylaws of the Company, each as amended to the date of issuance hereof. 
 (d) The Company acknowledges that this Warrant does not constitute security for the repayment of any lease, loan or other indebtedness due
from the Company to the Holder. 
 5. REPRESENTATIONS AND WARRANTIES OF THE HOLDER. The Holder hereby represents and warrants to
the Company as follows: 
 (a) This Warrant is being acquired for such Holder’s own account, for investment and not with a
view to, or for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act. Upon the exercise of the rights represented by this Warrant, the Holder shall, if so requested by the Company, confirm
in writing, in a form reasonably satisfactory to the Company, that the Warrant Shares issuable upon the exercise of such rights are being acquired for investment and not with a view toward distribution or resale thereof. 
  

 7 

 (b) The Holder understands that the Warrant and the Warrant Shares have not been registered
under the Securities Act by reason of their issuance in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act pursuant to Section 4(2) thereof, and that such Warrant and the Warrant Shares, as the
case may be, must be held by the Holder indefinitely, and therefore, that the Holder must bear the economic risk of such investment, unless a subsequent disposition thereof is registered under the Securities Act or is exempt from such registration
requirements. The Holder further understands that the Warrant Shares have not been qualified under the California Securities Law of 1968 (the “California Law”) by reason of their issuance in a transaction exempt from the qualification
requirements of the California Law pursuant to Section 25102(f) thereof, which exemption depends upon, among other things, the bona fide nature of such Holder’s investment intent expressed herein. 
 (c) The Holder has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of
the purchase of this Warrant and the Warrant Shares and of protecting its interests in connection therewith. 
 (d) The Holder
is able to bear the economic risk of the purchase of the Warrant Shares pursuant to the terms of this Warrant. 
 (e) Holder is
an “accredited investor” within the meaning of the Securities and Exchange Rule 501 of Regulation D, as presently in effect. 
 6.
NO STOCKHOLDER RIGHTS. The Holder of this Warrant (and any transferee hereof) shall not be entitled to vote on matters submitted for the approval of consent of the stockholders of the Company or to receive any notices otherwise required
to be delivered to the stockholders of the Company or to receive dividends declared on or in respect of shares of Series A-1 Preferred Stock, or otherwise be deemed to be the holder of Series A-1 Preferred Stock or any other capital stock or other
securities of the Company which may at any time be issuable upon the exercise of the rights represented hereby for any purpose, nor shall anything contained herein be construed to confer upon the Holder (or any transferee hereof) any of the rights
of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted for the approval or consent of the stockholders, or to give or withhold consent to any corporate action (whether upon any
recapitalization, issuance of stock, reclassification of stock, merger or consolidation, conveyance, or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or otherwise until this Warrant shall have been
exercised and the Warrant Shares issuable upon the exercise of the rights represented hereby shall have become deliverable as provided herein. 
 7. REGISTRATION RIGHTS. The Warrant holder may participate in the registrations of the Company’s securities for the Company’s own account (i.e., piggyback registrations) on the terms as set forth in that certain
Second Amended and Restated Investors’ Right Agreement, dated July 17, 2000 and any amendments or restatements thereof and specifically in accordance with Section 3.4(a) of such agreement. 
  

 8 

 8. EXPIRATION OF WARRANT. This Warrant shall expire, and the rights represented hereby may no
longer be exercised on or after the close of business on the tenth anniversary of March 1, 2001. 
 9. LOCK-UP AGREEMENT. The
Holder hereby agrees that, upon request of the Company or the managing underwriter of a public offering of any securities of the Company, such Holder shall not sell, make any short sale of, loan, grant any option for the purchase of, or otherwise
dispose of all or any portion of the Warrant Shares or any other securities of the Company without the prior written consent of the Company or the managing underwriter, as the case may be, for such period of time (not to exceed one hundred eighty
(180) days from the date upon which the registration statement relating to such public offering is declared or ordered effective by the Securities and Exchange Commission) as may be requested by the Company or the underwriters, as the case may
be. 
 10. MISCELLANEOUS. 
 (a) Governing Law. This Warrant is being delivered in the State of California, and shall be construed and enforced in accordance with and governed by the laws of such State. The parties expressly
stipulate that any litigation under this Warrant shall be brought in the State courts of the County of Santa Clara, California, and in the United States District Court for the Northern District of California. The parties agree to submit to the
jurisdiction and venue of such courts. 
 (b) Notice Procedures. Any written notice by the Company required hereunder
shall be made by hand delivery or first class mail, postage prepaid, address to the Holder at the address set forth on the books of the Company. Notice shall be deemed to have been received on the third business day following the date of deposit of
such notice in the United States mall. 
 (c) Successors and Assigns. The terms of this Warrant shall be binding upon and
shall inure to the benefit of any successors or assigns of the Company and of the Holder or Holders of this Warrant and the Warrant Shares issued or issuable upon the exercise of the rights represented by this Warrant. 
 (d) Entire Agreement. This Warrant constitutes the full and entire understanding and agreement between the parties with respect to
the subject matter hereof and supersedes in their entirety any prior or contemporaneous agreements by and between the Company and the Holder with respect to such matters, including that certain Warrant to Purchase Shares of Series C Preferered Stock
dated as of                                 , which shall be of no further force or
effect. 
 (e) Further Assurances; No Impairment. The Company shall not, by amendment of its Certificate of Incorporation
or through any other means, directly or Indirectly, avoid or seek to avoid the observance or performance of any of the terms of this Warrant and shall at all times in good faith assist in the carrying out of all such terms and in the taking of all
such action as may be necessary or appropriate in order to protect the rights of the holder of this Warrant against impairment. Except as provided in Section 9 hereof, the Company shall at no time close its transfer books against the transfer
of this Warrant or of any Warrant shares issued or issuable

  

 9 

 
upon the exercise of the rights represented by this Warrant in any manner, which interferes with a timely exercise of such rights. The Company shell not, by any action, seek to avoid the
observance or performance of any of the terms of this Warrant, but shall at all times in good faith seek to carry out all such terms and take all such actions as may be necessary or appropriate in order to protect the rights of the Holder under this
Warrant against impairment. 
 (f) Lost Warrant. Upon receipt of evidence reasonably satisfactory to the company of the
loss, theft, destruction or mutilation of this Warrant and, in the case of any such loss, theft or destruction, upon delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or. in the case of any such mutilation,
upon surrender and cancellation of such Warrant, the Company at the Holder’s expense shall execute and deliver to the Holder, in lieu thereof, a new Warrant of like date and tenor. 
 (g) Amendments. This Warrant and any provision hereof may be amended, waived or terminated (either generally or in a particular
instance, retroactively or prospectively and for a specified period of time or indefinitely) only by a written instrument signed by the Company and the Holder, or, in the event of any partial transfer of the rights represented by this Warrant, the
Holders of rights to purchase more than fifty percent (50%) of the Warrant Shares issuable upon exercise of the rights represented by this Warrant, and with the same consent the Company may enter into a supplementary agreement for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of this Warrant or the Warrants, as the case may be, provided, however, that no such amendment, waiver, termination or supplemental agreement shall reduce the
aforesaid percentage which is required for consent to any amendment, waiver, termination or supplemental agreement without the consent of all of the Holders of the rights represented by this Warrant. 
  

 10 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly authorized officer.

 Issued this          day of
                ,         . 
  

			
	Turin Networks, Inc.,
a Delaware corporation
		
	By:	 	  

	Name:	 	William Zerella
	Title:	 	Chief Financial Officer

 Acknowledged and Accepted:

  

			
	
	

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 11 

 EXHIBIT A 
 NOTICE OF CASH EXERCISE 
  

	To:	Turin Networks, Inc. 

 1415 North
McDowell Blvd. 
 Petaluma, CA 94954 
 1. The undersigned hereby elects to purchase          shares of Series A-1 Preferred Stock of Turin Networks, Inc., a Delaware corporation (the
“Company”), pursuant to the terms of Warrant No.                     , issued on
            , 2007, to and in the name of Pentech Financial Services, Inc., a copy of which is attached hereto (the “Warrant”), and tenders herewith full payment of the aggregate
Exercise Price for such shares in accordance with the terms of the Warrant. 
 2. The undersigned hereby elects to purchase
         shares of the Common Stock of Turin Networks, Inc., a Delaware corporation (the “Company”), pursuant to the terms of Warrant No.
                    , issued on             , 2007, to and in the name of
                            
                                        , a copy
of which is attached hereto (the “Warrant”), and tenders herewith full payment of the aggregate Exercise Price for such shares in accordance with the terms of the Warrant. 
 3. Please Issue a certificate or certificates representing said shares of Series A-1 Preferred Stock or Common Stock, as applicable, in such
name or names as specified below: 
  

			
	 	  	 
		  	
		  	

 4. The undersigned hereby represents and warrants that the aforesaid shares of Series A-1
Preferred Stock or Common Stock, as applicable, are being acquired for the account of the undersigned for investment and not with a view to, or for resale In connection with, the distribution thereof, and that the undersigned has no present
intention of distributing or reselling such shares and all representations and warranties of the undersigned set forth In attached Warrant are true and correct as of the date hereof. In support thereof, the undersigned has executed an Investment
Representation Statement, in the form attached as Exhibit C to the Warrant, concurrently herewith. 
  

			
	
	
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 12 

 EXHIBIT B 
 NOTICE OF NET-ISSUE EXERCISE 
  

			
	To:	  	Turin Networks, Inc.
		  	1415 North McDowell Blvd.
		  	Petaluma, CA 94954

 1. The undersigned
hereby elects to purchase          shares of Series A-1 Preferred Stock of Turin Networks, Inc., a Delaware corporation (the “Company”), on a net-issue basis pursuant to the terms of Warrant No.
                    , issued on             , 2007, to and in the name of Pentech
Financial Services, Inc., a copy of which is attached hereto (the “Warrant”). 
 2 The undersigned hereby elects to
purchase shares of the Common Stock of Turin Networks, Inc., a Delaware corporation (the “Company”), pursuant to the terms of Warrant No.
                    , issued on             , 2007, to and in the name of
                                
                                , a copy of which is attached hereto (the
“Warrant”), and tenders herewith full payment of the aggregate Exercise Price for such shares in accordance with the terms of the Warrant. 
 3. Net-Issue Information: 
 (a) Number of Shares of Series A-1 Preferred Stock or
Common Stock to be delivered: 
 (b) Number of Shares of Series A-1 Preferred Stock or Common Stock Surrendered:
                             
 (c) Number of Shares Remaining Subject to Warrant:
                             
 4. Please issue a certificate or certificates representing said shares of Series A-1 Preferred Stock or Common Stock, as applicable, in such
name or names as specified below:                              
 5. The undersigned hereby represents and warrants that the aforesaid shares of Series A-1 Preferred Stock or Common Stock, as applicable,
are being acquired for the account of the undersigned for investment and not with a view to, or for resale In connection with, the distribution thereof, and that the undersigned has no present intention of distributing or reselling such shares and
all representations and warranties of the undersigned set forth in attached Warrant are true and correct as of the date hereof. In support thereof, the undersigned has executed an Investment Representation Statement, in the form attached as Exhibit
C to the Warrant, concurrently herewith. 
  

 13 

			
	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

	Date:	 	  

  

 14 

 EXHIBIT C 
 INVESTMENT REPRESENTATION STATEMENT 
  

			
	PURCHASER:	  	                    
		
	SELLER:	  	Turin Networks, inc.
		
	COMPANY:	  	Turin Networks, Inc.
		
	SECURITY:	  	Series A-1 Preferred Stock or Common Stock, as applicable, issued Upon The Exercise Of Warrant No
                     Issued On
                        .
		
	AMOUNT:	  	         SHARES
		
	DATE:	  	                    

 The undersigned hereby represent and warrants to Turin Networks, Inc., a Delaware corporation (the “Company”), as follows:

 1. I am aware of the business affairs, financial condition and results of operations of the Company and have acquired
sufficient information about the Company to reach an informed and knowledgeable investment decision to acquire the Securities. I am purchasing the Securities for my own account for investment purposes only and not with a view to, or for the resale
in connection with, any “distribution” thereof for purposes of the Securities Act of 1933, as amended (the “Securities Act”). 
 2. I understand that the Securities have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide
nature of my investment intent as expressed herein. I understand that, in the view of the Securities and Exchange Commission (the “Commission”), the statutory basis for such exemption may be unavailable if my representation was predicated
solely upon a present intention to hold the Securities for the minimum capital gains period specified under tax statutes, for a deferred sale, for or until an increase or decrease in the market price of the Securities, or for a period of one year Or
any other fixed period in the future. 
 3. I further understand that the Securities must be held indefinitely unless
subsequently registered under the Securities Act or unless an exemption from registration is otherwise available. In addition, I understand that the certificate evidencing the Securities will be imprinted with a legend, which prohibits the transfer
of the Securities unless they are registered or such registration is not required in the opinion of counsel for the Company. 
 4. I am familiar with the provisions of Rule 144, promulgated under the Securities Act, which, in substance, permits limited public resale of “restricted securities” acquired, directly or indirectly, from the issuer thereof, in a
non-public offering subject to the satisfaction of certain conditions. 
  

 15 

 5. I further understand that in the event all of the applicable requirements of Rule 144 are
not satisfied, registration under the Securities Act, compliance with Regulation A, or some other registration exemption will be required; and that, notwithstanding the fact that Rule 144 is not exclusive, the Staff of the Commission has expressed
its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from registration is
available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk. 
  

			
	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

	Date:	 	  

  

 16 

 EXHIBIT D 
 NOTICE OF TRANSFER 
 FOR VALUE RECEIVED, the
undersigned hereby sells, assigns and transfers unto                              the right represented by
Warrant No.                     , issued on             , 2007, to and in the name of
                                         
           , to purchase          shares of Series A-1 Preferred Stock of Turin Networks, Inc., a Delaware corporation (the “Company”), a copy of
which is attached hereto (the ‘Warrant”), and appoints                              as
attorney-in-fact to transfer such right on the books of the Company with full power of substitution in the premises. 
  

							
	Dated:	 	                    	 	  

		 		 	
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

			
		 		 	Transferee
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

			
		 		 	(Signature must conform in all respects to name of the Holder as set forth on the face of the Warrant)
			
		 		 	

  

	
	Signed in the presence of:
	
	  

  

 17 

 EXHIBIT E 
 INVESTMENT REPRESENTATION STATEMENT 
  

			
	TRANSFEROR:	  	                            
		
	TRANSFEREE:	  	                            
		
	COMPANY:	  	Turin Networks, Inc.
		
	SECURITY:	  	WARRANT NO                     , ISSUED ON
            , 2007
		
	AMOUNT:	  	
		
	DATE:	  	                    

 The undersigned hereby represent and warrants to Turin Networks, Inc., a Delaware corporation (the “Company”), as follows:

 1. I am aware of the business affairs, financial condition and results of operations of the Company and have acquired
sufficient information about the Company to reach an informed and knowledgeable investment decision to acquire the Securities. I am purchasing the Securities for my own account for investment purposes only and not with a view to, or for the resale
in connection with, any “distribution” thereof for purposes of the Securities Act of 1933, as amended (the “Securities Act”). 
 2. I understand that the Securities have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide
nature of my investment intent as expressed herein. I understand that, in the view of the Securities and Exchange Commission (the “Commission”), the statutory basis for such exemption may be unavailable if my representation was predicated
solely upon a present intention to hold the Securities for the minimum capital gains period specified under tax statutes, for a deferred sale, for or until an increase or decrease in the market price of the Securities, or for a period of one year or
any other fixed period in the future. 
 3. I further understand that the Securities must be held indefinitely unless
subsequently registered under the Securities Act or unless an exemption from registration is otherwise available. In addition, I understand that the certificate evidencing the Securities will be imprinted with a legend, which prohibits the transfer
of the Securities unless they are registered or such registration is not required in the opinion of counsel for the Company. 
 4. I am familiar with the provisions of Rule 144, promulgated under the Securities Act, which, in substance, permits limited public resale of “restricted securities” acquired, directly or indirectly, from the issuer thereof, in a
non-public offering subject to the satisfaction of certain conditions. 
  

 18 

 5. I further understand that in the event all of the applicable requirements of Rule 144 are
not satisfied, registration under the Securities Act, compliance with Regulation A, or some other registration exemption will be required; and that, notwithstanding the fact that Rule 144 is not exclusive, the Staff of the Commission has expressed
its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from registration is
available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk. 
  

							
	Dated:	 	                    	 	  

		 		 	
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

			
		 		 	Transferee
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

  

 19

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