Document:

EX-4.3

 Exhibit 4.3 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES
LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTIONS 5.3 AND 5.4 BELOW, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT, AND LAWS OR IN FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY, SUCH
OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION. 
 FORM OF WARRANT TO PURCHASE STOCK 

 

			
	Company:	  	 TANDEM DIABETES CARE, INC.

	Number of Shares:	  	
	Series of Stock:	  	
	Warrant Price:	  	
	Issue Date:	  	
	Expiration Date:	  	

 This Warrant to Purchase Stock (“Warrant”) is issued in connection with that certain
Waiver and Amendment No. 4 to that certain Amended and Restated Term Loan Agreement, dated as of April 4, 2014, as previously amended by (i) that certain Consent and Amendment Agreement, dated as of June 20, 2014, (ii) that
certain Omnibus Amendment Agreement No. 2, dated as of February 23, 2015, and (iii) that certain Amendment No. 3 to Term Loan Agreement, dated as of January 8, 2016 between the Company, as borrower, and Capital Royalty
Partners II – Parallel Fund “A” L.P., Capital Royalty Partners II L.P., Capital Royalty Partners II (Cayman) L.P. and Capital Royalty Partners II – Parallel Fund “B” (Cayman) L.P. as lenders (the “Term Loan
Agreement”). 
 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, __________ (together with any successor or
permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, “Holder”) is entitled to purchase the number of fully paid and non-assessable shares (the
“Shares”) of the above-stated Common Stock (the “Stock”) of the above-named company (the “Company”) at the above-stated Warrant Price, all as set forth above and as may be
adjusted from time to time pursuant to Section 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. 

SECTION 1. EXERCISE. 
 1.1
Method of Exercise. Holder may at any time, and from time to time, exercise this Warrant, in whole or in part, by delivering to the Company the original of this Warrant together with a duly executed Notice of Exercise in substantially the
form attached hereto as Appendix 1 and, unless Holder is exercising this Warrant pursuant to a cashless exercise set forth in Section 1.2, a check, wire transfer of same-day funds (to an account
designated by the Company), or other form of payment acceptable to the Company in the amount obtained by multiplying the Warrant Price then in effect by the number of Shares thereby being purchased as designated in the Notice of Exercise (the
“Aggregate Warrant Price”). 
 1.2 Cashless Exercise. On any exercise of this Warrant, in lieu of payment of
the Aggregate Warrant Price in the manner as specified in Section 1.1 above, but otherwise in accordance with the requirements of Section 1.1, Holder may elect to receive Shares equal to the value of this Warrant, or portion hereof as to
which this Warrant is being exercised. Thereupon, the Company shall issue to the Holder such number of fully paid and non-assessable Shares as are computed using the following formula: 

  
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 X = Y (A - B) / A 

where: 
  

	 	X =	the number of Shares to be issued to the Holder; 

  

	 	Y =	the number of Shares with respect to which this Warrant is being exercised (inclusive of the Shares surrendered to the Company in payment of the Aggregate Warrant Price); 

 

	 	A =	the Fair Market Value (as determined pursuant to Section 1.3 below) of one Share; and 

  

	 	B =	the Warrant Price. 

 1.3 Fair Market Value. If the Company’s common stock is then
traded or quoted on a nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market (a “Trading Market”),
the fair market value of a Share shall be the closing price or last sale price of a share of common stock reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the
Company. If the Company’s common stock is not traded in a Trading Market, the Board of Directors of the Company shall determine the fair market value of a Share in its reasonable good faith judgment. 

1.4 Delivery of Certificate and New Warrant. Within a reasonable time after Holder exercises this Warrant in the manner set forth in
Section 1.1 or 1.2 above, the Company shall deliver to Holder a certificate representing the Shares issued to Holder upon such exercise and, if this Warrant has not been fully exercised and has not expired, a new warrant of like tenor
representing the Shares not so acquired. 
 1.5 Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company
of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form, substance and amount to the Company or, in the case of mutilation,
on surrender of this Warrant to the Company for cancellation, the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new warrant of like tenor and amount. 

1.6 Treatment of Warrant Upon Acquisition of Company. 

(a) Acquisition. For the purpose of this Warrant, “Acquisition” means any transaction or series of related
transactions involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all of the assets of the Company (ii) any merger or consolidation of the Company into or with another person or entity (other than
a merger or consolidation effected exclusively to change the Company’s domicile), or any other corporate reorganization, in which the stockholders of the Company in their capacity as such immediately prior to such merger, consolidation or
reorganization, own less than a majority of the Company’s (or the surviving or successor entity’s) outstanding voting power immediately after such merger, consolidation or reorganization; or (iii) any sale or other transfer by the
stockholders of the Company of shares representing at least a majority of the Company’s then-total outstanding combined voting power. 

  
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 (b) Treatment of Warrant at Acquisition. In the event of an Acquisition in which the
consideration to be received by the Company’s stockholders consists solely of cash, solely of Marketable Securities or a combination of cash, Marketable Securities or otherwise (an “Acquisition”), either (i) Holder
shall exercise this Warrant pursuant to Section 1.1 and/or 1.2 and such exercise will be deemed effective immediately prior to and contingent upon the consummation of such Acquisition or (ii) if Holder elects not to exercise this Warrant,
it will expire immediately prior to the consummation of such Acquisition and be of no further force or effect. 
 (c) Notice of
Acquisition. The Company shall provide Holder with written notice of its request relating to the Acquisition (together with such reasonable information as Holder may reasonably require regarding the treatment of this Warrant in connection with
such contemplated Acquisition giving rise to such notice), which is to be delivered to Holder not less than seven (7) Business Days prior to the closing of the proposed Acquisition. In the event the Company does not provide such notice, then
if, immediately prior to the Acquisition, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above would be greater than the Warrant Price in effect on such
date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the Company shall
promptly notify the Holder of the number of Shares (or such other securities) issued upon such exercise to the Holder and Holder shall be deemed to have restated each of the representations and warranties in Section 4 of this Warrant as of the
date thereof. 
 (d) As used in this Warrant, “Marketable Securities” means securities meeting all of the following
requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is then current in
its filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder in connection with the Acquisition were Holder to
exercise this Warrant on or prior to the closing thereof is then traded on a Trading Market, and (iii) Holder would be able to publicly re-sell, within six (6) months following the closing of such
Acquisition, all of the issuer’s shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise this Warrant in full on or prior to the closing of such Acquisition. 

SECTION 2. ADJUSTMENTS TO THE SHARES AND WARRANT PRICE. 

2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend or distribution on the outstanding shares of the Stock
payable in common stock or other securities or property (other than cash), then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without additional cost to Holder, the total number and kind of securities and property
which Holder would have received had Holder owned the Shares of record as of the date the dividend or distribution occurred. If the Company subdivides the outstanding shares of the Stock by reclassification or otherwise into a greater number of
shares, the number of Shares purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares of the Stock are combined or consolidated, by reclassification or otherwise,
into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased. 

2.2 Reclassification, Exchange, Combinations or Substitution. Upon any event whereby all of the outstanding shares of the Stock are
reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or series, then from and after the consummation of such event, this Warrant will be exercisable for the number, class and
series of Company securities that Holder would have received had the Shares been outstanding on and as of the consummation of such event, and subject to further adjustment thereafter from time to time in accordance with the provisions of this
Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, combinations substitutions, replacements or other similar events. 

  
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 2.3 No Fractional Share. No fractional Share shall be issuable upon exercise of this
Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional Share interest arises upon any exercise of this Warrant, the Company shall eliminate such fractional Share interest by paying Holder in
cash the amount computed by multiplying the fractional interest by (i) the fair market value (as determined in accordance with Section 1.3 above) of a full Share, less (ii) the then-effective Warrant Price. 

2.4 Notice/Certificate as to Adjustments. Upon each adjustment of the Warrant Price, Stock and/or number of Shares, the Company, at the
Company’s expense, shall notify Holder in writing within a reasonable time setting forth the adjustments to the Warrant Price, Stock and/or number of Shares and facts upon which such adjustment is based. The Company shall, upon written request
from Holder, furnish Holder with a certificate of its Chief Financial Officer or other officer, including computations of such adjustment and the Warrant Price, Stock and number of Shares in effect upon the date of such adjustment. 

SECTION 3. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. 

3.1 Representations and Warranties. The Company represents and warrants to, and agrees with, the Holder as follows: 

(a) All Shares, when issued and delivered and paid for in compliance with the provisions of this Warrant, and all securities, if any, issuable
upon conversion of the Shares in compliance with the provisions of the Company’s Certificate of Incorporation (as such may be amended from time to time), shall, upon issuance, be duly authorized, validly issued, fully paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. The Company covenants that it shall at all times
cause to be reserved and kept available out of its authorized and unissued capital stock such number of shares of the Stock as will be sufficient to permit the exercise in full of this Warrant. 

SECTION 4. REPRESENTATIONS AND WARRANTIES OF THE HOLDER. 

The Holder represents and warrants to the Company as follows: 

4.1 Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder are being acquired
for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the specific purpose of acquiring
this Warrant or the Shares. 
 4.2 Disclosure of Information. Holder is aware of the Company’s business affairs and financial
condition and has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and the Shares. Holder further has had an
opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such
information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access. 

  
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 4.3 Investment Experience. Holder understands that the purchase of this Warrant and its
underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and
its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting
personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons.

 4.4 Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D promulgated under
the Act. 
 4.5 The Act. Holder understands that this Warrant and the Shares issuable upon exercise hereof have not been registered
under the Act in reliance upon a specific exemption therefrom. Holder understands that this Warrant and the Shares issued upon any exercise hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable
state securities laws, or unless exemption from such registration and qualification are otherwise available. Holder is aware of the provisions of Rule 144 promulgated under the Act. 

4.6 Market Stand-off Agreement. The Holder hereby agrees that it will not, without the prior
written consent of the managing underwriter, during the period commencing on the effective date of any registration statement relating to the first public offering of Common Stock, or other securities of the Company, by the Company conducted after
the date hereof that is registered under the Act (any such offering, a “Public Offering”) and ending on the date specified by the Company and the managing underwriter (such date (the “Term Date”) not to exceed one
hundred eighty (l80) days, which Term Date may be extended upon the request of the managing underwriter, but only to the extent required by applicable laws or regulations) (i) lend, offer, pledge, sell, contract to sell, sell any option or
contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, this Warrant or the Shares received upon exercise of the Warrant (or the
securities issuable, directly or indirectly, upon conversion of the Shares, if any) held during such period, or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of
ownership of the Warrants or the Shares (or the securities issuable, directly or indirectly, upon conversion of the Shares, if any), whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of
Warrants, Common Stock, such other securities, in cash, or otherwise and with respect to any subsequent such public offerings, for so long as the Holder is the beneficial owner of more than five percent (5.0%) of the outstanding shares of Common
Stock, for a period ending on a Term Date not to exceed ninety (90) days. The foregoing provisions of this Section 4.6 shall not apply to the sale of any shares to an underwriter in a Public Offering pursuant to an
underwriting agreement, and shall only be applicable to the Holders if all officers, directors and stockholders that are “beneficial owners” (as defined by Rule 13d-3 promulgated under the Exchange
Act) of more than one percent (1.0%) of the outstanding shares of Common Stock are subject to similar restrictions. In addition, the foregoing provisions of this Section 4.6 shall not apply to the filing of a registration
statement on Form S-8 filed for the purpose of registering shares of Common Stock to be issued pursuant to the Company’s equity incentive plan awards and other compensatory agreements to the extent such
plans and agreements have been approved by the Company’s Board of Directors. 
 The underwriters of any Public Offering are intended
third party beneficiaries of this Section 4.6 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Holder further agrees to execute such lock-up agreements or similar agreements as may be reasonably requested by the underwriters in any Public Offering that are consistent with the purpose and 

  
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intent of this Section 4.6, or that are necessary to give further effect thereto. In order to enforce these restrictions, the Company is authorized to impose
stop-transfer instructions with respect to the Warrants or the Shares of Holder (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 

4.7 No Stockholder Rights. Except as specifically provided for by this Warrant, Holder will not have any rights as a stockholder of the
Company (as a Holder of this Warrant), until the exercise of this Warrant (and then only with respect to the Shares issued upon such exercise). 

SECTION 5. MISCELLANEOUS. 

5.1 Term and Automatic Conversion Upon Expiration. 

(a) Term. Subject to the provisions of Section 1.6 above, this Warrant is exercisable in whole or in part at any time and from time
to time on or before 6:00 PM, Pacific time, on the Expiration Date and shall be void thereafter. 
 (b) Automatic Cashless Exercise upon
Expiration. In the event that, upon the Expiration Date, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect
on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the
Company shall, within a reasonable time, deliver a certificate representing the Shares (or such other securities) issued upon such exercise to Holder. 

5.2 Legends. The Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) shall be imprinted
with a legend in substantially the following form: 
 THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE STOCK ISSUED BY THE ISSUER TO ___________________ DATED [MARCH 7, 2017], MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS, OR IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION. 

5.3 Compliance with Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise of this Warrant (and the securities
issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part except in compliance with applicable federal and state securities laws by the transferor and the transferee (including,
without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require Holder to provide an opinion of counsel if the
transfer is to any “affiliate” of Holder (as defined in Rule 144 promulgated under the Act) provided that any such transferee is an “accredited investor” (as defined in Regulation D promulgated under the Act). Additionally, the
Company shall also not require an opinion of counsel if there is no material question as to the availability of Rule 144 promulgated under the Act. 

  
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 5.4 Transfer Procedure. Subject to the provisions of Section 5.3, and upon providing
the Company with written notice, all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the securities issuable directly or indirectly, upon conversion of the Shares, if any) may be transferred to any transferee,
provided, however, in connection with any such transfer, any subsequent Holder will give the Company notice of the portion of this Warrant being transferred with the name, address and taxpayer identification number of the transferee, and Holder will
surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable); and provided further, that any subsequent transferee shall agree in writing with the Company to be bound by all of the terms and conditions of this
Warrant. 
 5.5 Notices. All notices and other communications hereunder from the Company to the Holder, or vice versa, shall be
deemed delivered and effective (i) when given personally, (ii) on the third (3rd) Business Day after being mailed by first-class registered or certified mail, postage prepaid,
(iii) upon actual receipt if given by facsimile or electronic mail and such receipt is confirmed in writing by the recipient, or (iv) on the first (1st) Business Day following delivery
to a reliable overnight courier service, courier fee prepaid, in any case at such address as may have been furnished to the Company or Holder, as the case may be, in writing by the Company or such Holder from time to time in accordance with the
provisions of this Section 5.5. 
 All notices to Holder shall be addressed as follows until the Company receives notice of a change of
address (delivered in compliance with this Section 5.5): 
 ____________________ 

Attn: General Counsel 
 1000
Main Street, Suite 2500 
 Houston, Texas 77002 

Telephone: (713) 209-7350 

Facsimile: (713) 209-7351 

Email address: adorenbaum@capitalroyal.com 

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address (delivered in compliance with this
Section 5.5): 
 TANDEM DIABETES CARE, INC. 

Attn: Chief Financial Officer 

11045 Roselle Street 
 San
Diego, California 92121 
 Telephone: (858) 366-6900 

Facsimile: (858) 362-7070 

Email: jcajigas@tandemdiabetes.com 

With a copy (which shall not constitute notice) to: 

Bruce Feuchter 
 Stradling Yocca
Carlson & Rauth 
 660 Newport Center Drive, Suite 1600 

Newport Beach, California 92660 

Telephone: (949) 725-4123 

Facsimile: (949) 725-4100 

Email: feuchter@sycr.com 

  
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 5.6 Waiver. This Warrant and any term hereof may be changed, waived, discharged or
terminated (either generally or in a particular instance and either retroactively or prospectively) only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 

5.7 Attorney’s Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the
party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

5.8 Counterparts; Facsimile / Electronic Signatures. This Warrant may be executed in counterparts, all of which together shall
constitute one and the same agreement. Any signature page delivered electronically or by facsimile shall be binding to the same extent as an original signature page with regards to any agreement subject to the terms hereof or any amendment thereto.

 5.9 Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of California, without
giving effect to its principles regarding conflicts of law. 
 5.10 Headings. The headings in this Warrant are for purposes of
reference only and shall not limit or otherwise affect the meaning of any provision of this Warrant. 
 5.11 Business Days.
“Business Day” is any day that is not a Saturday, Sunday or a day on which commercial banks in New York are authorized or required to be closed. 

[Balance of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the parties have caused this Warrant to Purchase Stock to be executed by
their duly authorized representatives effective as of the Issue Date written above. 
  

	
	 “COMPANY”

	
	 TANDEM DIABETES CARE, INC.

	
	 By:_____________________________

	
	 Name: __________________________

	             (Print)

	 Title: ___________________________

	
	 “HOLDER”

	
	 ________________________________

	
	 By: _____________________________

	
	 Name: ___________________________

	             (Print)

	 Title: ____________________________

 APPENDIX 1 

NOTICE OF EXERCISE 
 1.
The undersigned Holder hereby exercises its right to purchase ___________ shares of the Common Stock of TANDEM DIABETES CARE, INC. (the “Company”) in accordance with the attached Warrant to Purchase Stock, and tenders payment of the
aggregate Warrant Price for such shares as follows: 
 [    ]    check in the amount of
$________ payable to order of the Company enclosed herewith 
 [    ]    Wire transfer of
immediately available funds to the Company’s account 
 [    ]    Cashless Exercise pursuant to
Section 1.2 of the Warrant 
 [    ]    Other [Describe]
__________________________________________ 
 2. Please issue a certificate or certificates representing the Shares in the name specified
below: 
  
  

Holder’s Name 
  

 
  

 
 (Address)

 3. By its execution below and for the benefit of the Company, Holder hereby restates each of the representations and warranties in
Section 4 of the Warrant to Purchase Stock as of the date hereof. 
  

	
	 HOLDER:

	 
	 By:

	
	 Name:

	
	 Title:

	
	 Date:EX-10.6

 Exhibit 10.6 

Execution Version 

WAIVER AND AMENDMENT NO. 4 TO TERM LOAN AGREEMENT 

THIS WAIVER AND AMENDMENT NO. 4 TO TERM LOAN AGREEMENT (this “Amendment”), dated as of March 7, 2017, is made among TANDEM
DIABETES CARE, INC., a Delaware corporation (the “Borrower”) and the financial institutions listed on the signature pages hereof under the heading “EXISTING TERM LOAN LENDERS” (each a “Lender” and, collectively, the
“Lenders”). 
 The Borrower and the Lenders are parties to an Amended and Restated Term Loan Agreement dated as of April 4,
2014, as amended by that certain Consent and Amendment Agreement, dated as of June 20, 2014, that certain Omnibus Amendment Agreement No. 2, dated as of February 23, 2015, and that certain Amendment No. 3 to Term Loan Agreement,
dated as of January 8, 2016 (as so amended, the “Existing Term Loan Agreement”). 
 The Borrower has requested that
(i) the Lenders provide a limited waiver of certain reporting covenants contained in Section 8.01 of the Existing Term Loan Agreement, and (ii) certain amendments be made to the Existing Term Loan Agreement. 

The Lenders have agreed to such requests, subject to the terms and conditions hereof. 

Accordingly, the parties hereto agree as follows: 

SECTION 1 Definitions; Interpretation. 

(a) Terms Defined in Existing Term Loan Agreement. All capitalized terms used in this Amendment (including in the recitals hereof) and
not otherwise defined herein shall have the meanings assigned to them in the Existing Term Loan Agreement. 
 (b) Interpretation.
The rules of interpretation set forth in Section 1.03 of the Existing Term Loan Agreement shall be applicable to this Amendment and are incorporated herein by this reference. 

SECTION 2 Waivers. With respect only to the 2016 fiscal year consolidated and consolidating balance sheets of Borrower and its
Subsidiaries as of the end of such fiscal year, and the related consolidated and consolidating statements of income, shareholders’ equity and cash flows of Borrower and its Subsidiaries for such fiscal year, the Lenders hereby agree to waive
the requirement of Section 8.01(b) of the Existing Term Loan Agreement that the report and opinion of Borrower’s independent certified public accountants required to be delivered in connection with such financial statements be delivered
without qualification as to going concern. 
 The waiver set forth in this Section 2 shall be limited precisely as
written and relates solely to the potential noncompliance or breach by the Borrower of Section 8.01(b) of the Existing Term Loan Agreement. Nothing in this Amendment shall be deemed to constitute a waiver of noncompliance or breach of any
other term or provision in the Existing Term Loan 

  
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 Agreement or the other Loan Documents, nor prejudice any right or remedy that the Lenders may now have (except to
the extent such right or remedy was based upon Defaults that will not exist after giving effect to this Amendment) or may have in the future under or in connection with the Existing Term Loan Agreement or the other Loan Documents. Nothing contained
herein shall be deemed a waiver or consent in respect of (or otherwise affect the Lenders’ ability to enforce) any Default not explicitly waived by Section 2. 

SECTION 3 Amendments. 

In reliance upon the representations and warranties of the Borrower set forth in this Amendment, the Existing Term Loan Agreement shall be
amended as follows, effective as of the date hereof: 
 (a) The following definitions in Section 1.01 of the
Existing Term Loan Agreement shall be amended and restated as follows: 
 “Amended and Restated Fee Letter” means
the fee letter agreement dated as of March 7, 2017, among Borrower and the Lenders party thereto. 
 “Amendment
No. 4” means Waiver and Amendment No. 4 to Term Loan Agreement, dated as of March 7, 2017, among Borrower and the Lenders party thereto. 

“Loan Documents” means, collectively, this Agreement, the Notes, the Security 

Documents, each Warrant, the Fee Letter, the Amended and Restated Fee Letter, any subordination agreement or any intercreditor agreement entered into by
Lenders with any other creditors of Obligors, including the Capital Royalty Intercreditor Agreement, and any other present or future document, instrument, agreement or certificate executed by Obligors for the benefit of Lenders in connection with
this Agreement or any of the other Loan Documents, all as amended, restated, or otherwise modified. 
 “Permitted Priority
Debt” means Indebtedness of the Borrower under the Silicon Valley Bank Credit Agreement. 
 “Silicon Valley Bank
Credit Agreement” means that Amended and Restated Loan and Security Agreement, dated January 14, 2013, by and between Borrower and Silicon Valley Bank, as may be amended from time to time. 

“Warrant” means (i) each warrant to purchase capital stock of the Borrower issued by the Borrower to the Lenders
on the Prior Closing Date in connection with the transactions contemplated under the Existing Term Loan Agreement and (ii) each warrant to purchase capital stock of the Borrower issued by the Borrower to the Lenders on March 7, 2017 in
connection with the transactions contemplated under Amendment No. 4.” 
 (b) The definition of “Amendment No. 3 Fee
Letter” in the Existing Term Loan Agreement is hereby deleted. 

  
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 (c) The following provision is hereby added as Section 8.16 of the
Existing Term Loan Agreement: 
 “8.16 Board Information Rights. Borrower shall, concurrently with delivery to
Borrower’s Board of Directors (the “Board”), deliver to the Lenders copies of all notices, minutes, consents and other material that Borrower provides to its directors, except that the Lenders may be excluded from access
to any material (a) related to a refinancing of the Loans or (b) if the Board determines in good faith, upon advice of counsel, that such exclusion is reasonably necessary to preserve attorney-client privilege.” 

(d) The following provision is hereby added as Section 8.17 of the Existing Term Loan Agreement: 

“8.17 Warrants. Borrower shall deliver, on or before March 7, 2017, duly executed Warrants, in form and substance acceptable
to Lenders and for such number of shares of common stock of Borrower as set forth on Schedule 1.” 
 (e) The following provision
is hereby added as Section 8.18 of the Existing Term Loan Agreement: 
 “8.18 Required Equity
Financing. On or before January 15, 2018, Borrower shall issue Equity Interests to investors in such quantity as shall result in gross cash proceeds to Borrower of at least $30,000,000. The parties hereto agree that if the Borrower fails to
obtain gross cash proceeds of at least $30,000,000 through such Equity Interest issuance, the Event of Default waived by Section 2 of Amendment No. 4 shall be deemed to have occurred as of the date such report and opinion with respect to
fiscal year 2016 was received by Borrower from Borrower’s independent certified public accountants. For purposes of clarification, the gross cash proceeds obtained by Borrower pursuant to this Section shall not be included as Revenue for
purposes of Section 10.01.” 
 (f) Section 9.01(c) of the Existing Term Loan Agreement is hereby
amended and restated in its entirety as follows: 
 “(c) Permitted Priority Debt; provided that no principal amount shall have been
drawn under the Silicon Valley Bank Credit Agreement;” 
 (g) Section 9.02(c) of the Existing Term Loan Agreement is hereby
amended and restated in its entirety as follows: 
 “ (c) Liens in favor of Silicon Valley Bank granted pursuant to the Silicon Valley
Bank Credit Agreement;” 
 (h) Section 10.03 of the Existing Term Loan Agreement is hereby amended by
replacing the “$2,000,000” in such section with “$10,000,000”. 
 (i) Schedule 1 of the Existing Term Loan
Agreement is hereby replaced in its entirety with Schedule 1 hereto. 

  
 3 

 (j) Line II.B(1) of Annex B of Exhibit E to the Existing Term Loan
Agreement (Form of Compliance Certificate) is hereby amended by replacing the “$2,000,000” in such section with “$10,000,000”. 

SECTION 4 Conditions of Effectiveness. 

(a) Conditions Precedent. The effectiveness of Sections 2 and 3 shall be subject to the following conditions precedent:

 (i) Borrower and all of the Lenders shall have duly executed and delivered this Amendment and the Amended and Restated Fee Letter
pursuant to Section 12.04 of the Existing Term Loan Agreement. 
 (ii) Borrower shall have paid or reimbursed
Lenders for Lenders’ reasonable out of pocket costs and expenses incurred in connection with this Amendment and the Amended and Restated Fee Letter, including Lenders’ reasonable out of pocket legal fees and costs, pursuant to Section
12.03(a)(i)(z) of the Existing Term Loan Agreement. 
 (iii) Borrower shall have provided the Lenders (i) certified copies of the
resolutions of the Board of Directors (or shareholders, if applicable) of Borrower authorizing the making and performance by it of this Amendment and the Amended and Restated Fee Letter, and (ii) official certificates of good standing in its
jurisdiction of organization, dated no earlier than 30 days prior to the date hereof. 
 (iv) Borrower shall have duly executed and
delivered those Warrants set forth in Section 8.17 of the Existing Term Loan Agreement, as amended by this Amendment. 

(v) The representations and warranties in Section 5 shall be true and correct on the date hereof. 

(b) Conditions Subsequent. 

(i) Borrower shall deliver to the Lenders within ten (10) Business Days of the date hereof written confirmation signed by Silicon Valley
Bank that the Silicon Valley Bank Credit Agreement has been terminated and that (x) all indebtedness, liabilities and other obligations of Borrower to Silicon Valley Bank under the Silicon Valley Bank Credit Agreement have been satisfied and
discharged in full, and (y) all security interests and other liens or rights granted to Silicon Valley Bank pursuant to the Silicon Valley Bank Credit Agreement as security for such indebtedness, liabilities and other obligations have been
released. 
 SECTION 5 Representations and Warranties; Reaffirmation. To induce the Lenders to enter into this Amendment, the
Borrower hereby represents and warrants to each Lender on the date hereof as follows: 
 (a) This Amendment is within the Borrower’s
corporate powers and has been duly authorized by all necessary corporate and, if required, by all necessary shareholder action. This Amendment has been duly executed and delivered by the Borrower and constitutes a legal, valid and binding obligation
of the Borrower, enforceable against the Borrower in accordance with its 

  
 4 

 
terms, except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting the enforcement of
creditors’ rights and (ii) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

(b) Borrower hereby ratifies, confirms, reaffirms, and acknowledges its obligations under the Loan Documents to which it is a party and agrees
that the Loan Documents to which it is a party remain in full force and effect, undiminished by this Amendment, except as expressly provided herein. Borrower further ratifies, confirms, reaffirms, and acknowledges that all indebtedness and
obligations of Borrower under the Loan Documents shall be secured by the Security Documents (including the Security Agreement), and confirms the validity, effect and enforceability of all Collateral and the guarantee of the Obligations by any
Obligors. By executing this Amendment, Borrower acknowledges that it has read, consulted with its attorneys regarding, and understands the Amendment. 

(c) On the date hereof, after giving effect to this Amendment, no Default shall have occurred and be continuing. 

(d) The representations and warranties made by or with respect to such Obligor in Section 7 of the Existing Term Loan
Agreement are true in all material respects (taking into account any changes made to schedules updated in accordance with Section 7.21 of the Existing Term Loan Agreement or attached hereto), except that (i) such
representations and warranties that refer to a specific earlier date were true in all material respects on such earlier date, (ii) no representation or warranty is made under Section 7.11 of the Existing Term Loan Agreement with respect to
part (d) of the definition of “Solvent” and (iii) by their signature hereto and by their signature to that certain Consent Agreement dated as of June 30, 2016, the Lenders acknowledge and agree that Borrower has complied
with its obligations to deliver all requisite information responsive to the representations under Section 7.16 of the Existing Term Loan Agreement in respect of Borrower’s lease for its Barnes Canyon Road facility pursuant to that certain
Lease Agreement by and between the Borrower and ARE-SD Region No. 36, LLC, dated on or about June 30, 2016. 

SECTION 6 Miscellaneous. 

(a) Existing Term Loan Agreement Otherwise Not Affected; No Waiver. Except as expressly contemplated hereby, the Existing Term Loan
Agreement shall remain unchanged and in full force and effect and is hereby ratified and confirmed in all respects. Except as expressly set forth in Section 2, nothing contained herein shall be deemed to constitute a waiver
of compliance with any term or condition contained in the Existing Term Loan Agreement or any of the other Loan Documents or constitute a course of conduct or dealing among the parties. Except as expressly stated herein, the Lenders reserve all
rights, privileges and remedies under the Loan Documents. All references in the respective Loan Documents to the Existing Term Loan Agreement shall be deemed to be references to the Existing Term Loan Agreement as amended hereby. 

(b) No Reliance. The Borrower hereby acknowledges and confirms to the Lenders that the Borrower is executing this Amendment on the basis
of its own investigation and for its own reasons without reliance upon any agreement, representation, understanding or communication by or on behalf of any other Person. 

  
 5 

 (c) Binding Effect. This Amendment shall be binding upon, inure to the benefit of and be
enforceable by the Borrower, each Lender and their respective successors and assigns. 
 (d) Governing Law. This Amendment and any
claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Amendment and the transactions contemplated hereby and thereby shall be governed by, and construed in
accordance with, the law of the State of New York.  
 (e) Complete Agreement; Amendments. This Amendment and the other Loan
Documents, contains the entire and exclusive agreement of the parties hereto and thereto with reference to the matters discussed herein and therein. This Amendment supersedes all prior commitments, drafts, communications, discussions and
understandings, oral or written, with respect thereto. This Amendment may not be modified, amended or otherwise altered except in accordance with the terms of Section 12.04 of the Existing Term Loan Agreement. 

(f) Severability. Whenever possible, each provision of this Amendment shall be interpreted in such manner as to be effective and valid
under all applicable laws and regulations. If, however, any provision of this Amendment shall be prohibited by or invalid under any such law or regulation in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the
minimum requirements of such law or regulation, or, if for any reason it is not deemed so modified, it shall be ineffective and invalid only to the extent of such prohibition or invalidity without affecting the remaining provisions of this
Amendment, or the validity or effectiveness of such provision in any other jurisdiction. 
 (g) Counterparts. This 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 taken together shall constitute but one and the same agreement.
Delivery of an executed counterpart of a signature page of this Amendment by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Amendment.

 (h) Interpretation. This Amendment is the result of negotiations between and has been reviewed by counsel to the Lenders, the
Borrower and other parties, and is the product of all parties hereto. Accordingly, this Amendment shall not be construed against any of the Lenders merely because of any Lender’s involvement in the preparation thereof. 

(i) Controlling Provisions. In the event of any inconsistencies between the provisions of this Amendment and the provisions of any other
Loan Document, the provisions of this Amendment shall govern and prevail. Except as expressly modified by this Amendment, the Loan Documents shall not be modified and shall remain in full force and effect. This Amendment shall be deemed a Loan
Document. 
 [Remainder of page intentionally left blank] 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment, as of the date first
above written. 
  

			
	THE BORROWER
	
	TANDEM DIABETES CARE, INC.
		
	By	 	 /s/ John Cajigas

		 	Name: John Cajigas
		 	 Title:   Executive Vice President and Chief

            Financial Officer

 [Signature Page — Waiver and Amendment No. 4 to Term Loan Agreement] 

							
	THE EXISTING TERM LOAN LENDERS
	
	 CAPITAL ROYALTY PARTNERS II L.P.

		 	By CAPITAL ROYALTY PARTNERS II GP L.P., its General Partner
		 		 	 By CAPITAL ROYALTY PARTNERS II
 GP
LLC, its General Partner

				
		 		 	 By
	 	 /s/ Nate Hukill

		 		 		 	 Name: Nate Hukill

		 		 		 	 Title: Authorized Signatory

  

							
	CAPITAL ROYALTY PARTNERS II – PARALLEL FUND “A” L.P.
		 	By CAPITAL ROYALTY PARTNERS II—PARALLEL FUND “A” GP L.P., its General Partner
		 		 	By CAPITAL ROYALTY PARTNERS II – PARALLEL FUND “A” GP LLC, its General Partner
				
		 		 	 By
	 	 /s/ Nate Hukill

		 		 		 	 Name: Nate Hukill

		 		 		 	 Title: Authorized Signatory

  

							
	CAPITAL ROYALTY PARTNERS II (CAYMAN) L.P.
		 	By CAPITAL ROYALTY PARTNERS II (CAYMAN) GP L.P., its General Partner
		 		 	 By: CAPITAL ROYALTY PARTNERS II (CAYMAN) GP LLC, its

General Partner

				
		 		 	 By
	 	 /s/ Nate Hukill

		 		 		 	 Name: Nate Hukill

		 		 		 	 Title: Authorized Signatory

  

	
	 WITNESS:

	 /s/ Nicole Nesson

	 Name:

 [Signature Page — Waiver and Amendment No. 4 to Term Loan Agreement] 

							
	CAPITAL ROYALTY PARTNERS II – PARALLEL FUND “B” (CAYMAN) L.P.
		 	By CAPITAL ROYALTY PARTNERS II (CAYMAN) GP L.P., its General Partner
		 		 	By CAPITAL ROYALTY PARTNERS II (CAYMAN) GP LLC, its General Partner
				
		 		 	 By
	 	 
		 		 		 	 Name: Nate Hukill

		 		 		 	 Title: Authorized Signatory

  

	
	 WITNESS:

	 /s/ Nicole Nesson

	 Name:

 [Signature Page — Waiver and Amendment No. 4 to Term Loan Agreement] 

 Schedule 1 

Schedule 1 
 to Amended and
Restated Term Loan Agreement 
 COMMITMENTS AND WARRANTS 
  

													
	 Lender
	 	Commitment	 	 	Proportionate
Share	 	 	Common Stock of
Borrower Entitled
Under Warrant	 
	 Capital Royalty Partners II L.P.
	 	$	8,640,000	 	 	 	10.80	% 	 	 	209,292	 
	 Capital Royalty Partners II – Parallel Fund “A” L.P.
	 	$	12,400,000	 	 	 	15.50	% 	 	 	300,373	 
	 Capital Royalty Partners II

(Cayman) L.P.
	 	$	7,040,000	 	 	 	8.80	% 	 	 	170,534	 
	 Capital Royalty Partners II – Parallel Fund “B” (Cayman) L.P.
	 	$	51,920,000	 	 	 	64.90	% 	 	 	1,257,691	 
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 TOTAL
	 	$	80,000,000	 	 	 	100	% 	 	 	1,937,890

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