Document:

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                                                                     Exhibit 4.2

                   FORM OF RESTRICTED STOCK PURCHASE AGREEMENT
                   -------------------------------------------

         This RESTRICTED STOCK PURCHASE AGREEMENT (this "Agreement") is made as
of __________________, 2001 by and between MJBC CORP., a Delaware corporation
(the "Company"), and ___________ (the "Purchaser").

         1.   Purchase of Shares.
              ------------------

              1.1   Purchase. The Purchaser hereby purchases, and the Company
                    --------
hereby sells to the Purchaser, ___________________ (______) shares (the
"Shares") of the Company's common stock, par value $0.0001 per share (the
"Common Stock") at a purchase price of One-Half of One Cent ($0.005) per share,
                                       --------------------   -----
for an aggregate purchase price _________________ ($_____) (the "Purchase
Price").

              1.2   Payment. Concurrently with the execution of this Agreement,
                    -------
the Purchaser shall pay the Purchase Price for the Shares. The Purchaser shall
also deliver to the Secretary of the Company a duly executed blank Assignment
Separate from Certificate (in the form attached hereto as Exhibit A) and any
                                                          ---------
additional documents required by the Company as a condition for the purchase.

              1.3   Delivery of Certificates. The certificates representing the
                    ------------------------
Shares purchased hereunder and subject to the Company's Repurchase Right under
Article 5 below shall be held in escrow by the Secretary of the Company as
---------
provided in Article 7 below.
            ---------

         2.   Securities Law Compliance.
              -------------------------

              2.1   Exemption From Registration. The Shares have not been
                    ---------------------------
registered under the Securities Act of 1933, as amended (the "1933 Act") and are
being issued to the Purchaser in reliance upon the exemption from such
registration provided by Section 4(2) of the 1933 Act based on the
representations and warranties made by the Purchaser herein.

              2.2   Restricted Securities.
                    ---------------------

                    (a)   The Purchaser hereby confirms that the Purchaser has
been informed that the Shares are "restricted securities" under the 1933 Act and
may not be resold or transferred unless the Shares are first registered under
the federal securities laws or unless an exemption from such registration is
available. Accordingly, the Purchaser hereby acknowledges that the Purchaser is
prepared to hold the Shares for an indefinite period of time.

                    (b)   The Purchaser is aware of the adoption of Rule 144 by
the Commission, promulgated under the 1933 Act, which permits limited public
resales of securities acquired in a nonpublic offering, subject to the
satisfaction of certain conditions, including, among other things: the
availability of certain current public information about the issuer, the sale
being through a broker in an unsolicited "broker's transaction" and the amount
of securities being sold during any three (3) month period not exceeding
                                    -----  -
specified limitations. The Purchaser is aware that Rule 144 of the Commission
under the 1933 Act is not presently available to exempt the sale of the Shares
from the registration requirements of the 1933 Act.

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The Purchaser further represents that he or she understands that at the time he
or she wishes to sell the Shares there may be no public market upon which to
make such a sale, and that, even if such a public market exists for the
Company's Common Stock, the Company may not satisfy the current public
information requirement of Rule 144 or other conditions under Rule 144 which are
required of the Company. As a result of the foregoing, the Purchaser understands
that he or she may be precluded from selling the securities under Rule 144.

                    (c)   The Purchaser represents (i) that prior to acquisition
of the Shares, the Purchaser acquired sufficient information about the Company
to reach an informed knowledgeable decision to acquire the Shares; (ii) the
Purchaser has such knowledge and experience in financial and business matters as
to make him or her capable of evaluating the risks of the prospective investment
and to make an informed investment decision and (iii) the Purchaser is able to
bear the economic risk of his or her investment in the Shares. The Purchaser
agrees not to make, without the prior written consent of the Company, any public
offering or sale of the Shares although permitted to do so pursuant to Rule
144(k) promulgated under the 1933 Act, until the earlier of the date on which
the Company effects its initial registered public offering pursuant to the 1933
Act or the date on which it becomes a registered company pursuant to section
12(g) of the Securities and Exchange Act of 1934.

              2.3   Disposition of Shares. The Purchaser hereby agrees that the
                    ---------------------
Purchaser shall not make any disposition of the Shares (other than a permitted
transfer under Section 4.1 below) unless and until:
               -----------

                    (a)   such Purchaser shall have notified the Company of the
proposed disposition and provided a written summary of the terms and conditions
of the proposed disposition;

                    (b)   such Purchaser shall have complied with all
requirements of this Agreement applicable to the disposition of the Shares; and

                    (c)   such Purchaser, if requested by the Company, shall
have provided the Company an opinion of counsel in form and substance
satisfactory to the Company, that (i)the proposed disposition does not require
registration of the Shares under the 1933 Act or (ii) all appropriate action
necessary for compliance with the registration requirements of the 1933 Act or
of any exemption from registration available under the 1933 Act (including Rule
144) has been taken.

         The Company shall not be required (x) to transfer on its books any
Shares that have been sold or transferred in violation of the provisions of this
Article 2 nor (y) to treat as the owner of the Shares, or otherwise to accord
---------
voting or dividend rights to, any transferee to whom the Shares have been
transferred in contravention of this Agreement.

              2.4   Restrictive Legends.  In order to reflect the restrictions
                    -------------------
on the disposition of the Shares, the stock certificates for the Shares will be
endorsed with restrictive legends, including one or both of the following
legends:

                    (a)   "The securities represented by this certificate have
not been registered or qualified under the Securities Act of 1933 or the
securities laws of any state, and

                                       -2-

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may be offered and sold only if registered and qualified pursuant to federal and
state securities laws or if the Company is provided an opinion of counsel
satisfactory to the Company that registration and qualification under federal
and state securities laws is not required."

                    (b)   If required by the authorities of any state in
connection with the issuance of the Shares, the legend or legends required by
such state authorities shall also be endorsed on all such certificates.

         3.   Special Provisions.
              ------------------

              3.1   Stockholder Rights. Until such time as the Company actually
                    ------------------
exercises its repurchase rights under this Agreement, the Purchaser (or any
successor in interest) shall have all the rights of a stockholder (including
voting and dividend rights) with respect to the Shares, including the Shares
held in escrow under Article 7 below, subject, however, to the transfer
                     ---------        -------  -------
restrictions of Article 4 below.
                ---------

              3.2   Section 83(b) Election. The Purchaser understands that under
                    ----------------------
Section 83 of the Internal Revenue Code of 1986, as amended (the "Code"), the
difference between the Purchase Price paid for the Shares and the fair market
value of such Shares on the date any forfeiture restrictions applicable to such
Shares lapse will be reportable as ordinary income at that time. For this
purpose, the term "forfeiture restrictions" includes the right of the Company to
repurchase the Shares under Article 5 below. The Purchaser understands that he
                            ---------
or she may elect to be taxed at the time the Shares are acquired hereunder to
the extent the fair market value of the Shares differs from the Purchase Price
rather than when such Shares cease to be subject to such forfeiture
restrictions, by filing an election under Section 83(b) of the Code with the
I.R.S. within thirty (30) days after the date of purchase hereunder. The form
              ------  --
for making this election is attached hereto as Exhibit B. The Purchaser
                                               ---------
understands that failure to make this filing within such thirty (30) day period
                                                         ------  --
will result in the recognition of ordinary income by the Purchaser (in the event
the fair market value of the Shares increases after the date of purchase) as the
forfeiture restrictions lapse.

              3.3   Market Stand-Off.
                    ----------------

                    (a)   In connection with any underwritten public offering by
the Company of its equity securities pursuant to an effective registration
statement filed under the 1933 Act, including the Company's initial public
offering, the Purchaser shall not sell, make any short sale of, loan,
hypothecate, pledge, grant any option for the purchase of, or otherwise dispose
or transfer for value or agree to engage in any of the foregoing transactions
with respect to any Shares without the prior written consent of the Company or
its underwriters, for such period of time after the effective date of such
registration statement as may be requested by the Company or such underwriters
(not to exceed one hundred eighty (180) days). This Section 3.3 shall only
               ------------------  ---              -----------
remain in effect for the two (2) year period following the effective date of the
                         ---  -
Company's initial public offering.

                    (b)   The Purchaser shall be subject to the market stand-off
provisions of this Section 3.3 only if the officers and directors of the Company
                   -----------
are also subject to similar arrangements.

                                       -3-

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                    (c)   In the event of any stock dividend, stock split,
recapitalization, or other change affecting the Company's outstanding Common
Stock effected without receipt of consideration, then any new, substituted, or
additional securities distributed with respect to the Shares shall be
immediately subject to the provisions of this Section 3.3, to the same extent
                                              -----------
the Shares are at such time covered by such provisions.

              3.4   Stop Transfer.  In order to enforce the provisions of
                    -------------
Section 3.3 above, the Company may impose stop-transfer instructions with
-----------
respect to the Shares until the end of the applicable stand-off period.

         4.   Transfer Restrictions.
              ---------------------

              4.1   Restriction on Transfer. The Purchaser shall not transfer,
                    -----------------------
assign, encumber, or otherwise dispose of any of the Shares that are subject to
the Company's Repurchase Right under Article 5 below. In addition, Shares that
                                     ---------
are released from the Repurchase Right shall not be transferred, assigned,
encumbered, or otherwise made the subject of disposition in contravention of the
Company's First Refusal Right under Article 6 below; provided, however, that
                                    ---------        --------  -------
such restrictions on transfer shall not be applicable if the Purchaser receives
prior written consent from the Company to (i) a gratuitous transfer of the
Shares made to the Purchaser's spouse or issue, including adopted children, or
to a trust for the exclusive benefit of the Purchaser or the Purchaser's spouse
or issue; (ii) a transfer of title to the Shares effected pursuant to the
Purchaser's will or the laws of intestate succession; or (iii) a transfer to the
Company in pledge as security for any purchase-money indebtedness incurred by
the Purchaser in connection with the acquisition of the Shares.

              4.2   Transferee Obligations. Each person (other than the Company)
                    ----------------------
to whom the Shares are transferred by means of one of the permitted transfers
specified in Section 4.1 above, must, as a condition precedent to such transfer,
             -----------
acknowledge in writing to the Company that such person is bound by the
provisions of this Agreement and that the transferred shares are subject to (i)
both the Company's Repurchase Right and the Company's First Refusal Right
granted hereunder and (ii) the market stand-off provisions of Section 3.3 above,
                                                              -----------
to the same extent such shares would be so subject if retained by the Purchaser.

              4.3   Definition of Owner. For purposes of Articles 5, 6 and 7
                    -------------------                  -------- -  -     -
below, the term "Owner" shall include the Purchaser and all subsequent holders
of the Shares who derive their chain of ownership through a permitted transfer
from the Purchaser in accordance with Section 4.1 above.
                                      -----------

         5.   Repurchase Right.
              ----------------

              5.1   Grant. The Company is hereby granted the right (the
                    -----
"Repurchase Right"), exercisable at any time during the sixty (60) day period
                                                        -----  --
following the date the Purchaser ceases for any reason to be a Service Provider
to the Company, to repurchase at the Purchase Price all or (at the discretion of
the Company and with the consent of the Purchaser) any portion of the Shares in
which the Purchaser has not acquired a vested interest in accordance with
Section 5.3 below (the "Unvested Shares"). For purposes of this Agreement, the
-----------
Purchaser shall be deemed to be a "Service Provider" to the Company for so long
as the Purchaser renders

                                       -4-

<PAGE>

periodic services to the Company or one or more of its parent or subsidiary
corporations as an employee, director or consultant.

              5.2   Exercise of the Repurchase Right. The Repurchase Right shall
                    --------------------------------
be exercisable by written notice delivered to the Owner of the Unvested Shares
prior to the expiration of the sixty (60) day period specified in Section 5.1
                               -----  --                          -----------
above. The notice shall indicate the number of Unvested Shares to be repurchased
and the date on which the repurchase is to be effected, such date to be not more
than thirty (30) days after the date of notice. To the extent one or more
     ------  --
certificates representing the Unvested Shares may have been previously delivered
out of escrow to the Owner, then the Owner shall, prior to the close of business
on the date specified for the repurchase, deliver to the Secretary of the
Company the certificates representing the Unvested Shares to be repurchased,
properly endorsed for transfer. The Company shall, concurrently with the receipt
of such stock certificates, pay to the Owner in cash or cash equivalents
(including the cancellation of any purchase-money indebtedness), an amount equal
to the Purchase Price previously paid for the Unvested Shares that are to be
repurchased.

              5.3   Termination of the Repurchase Right.
                    -----------------------------------

                    (a)   The Repurchase Right shall terminate with respect to
any Unvested Shares for which it is not timely exercised under Section 5.2
                                                               -----------
above. In addition, the Repurchase Right shall terminate with respect to any and
all Shares in which the Purchaser vests in accordance with the schedule set
forth in Section 5.3(b) below. Accordingly, provided the Purchaser continues to
         -------------
be a Service Provider to the Company, the Purchaser shall acquire a vested
interest in, and the Repurchase Right shall lapse with respect to, the Shares in
accordance with the vesting schedule set forth in Section 5.3(b) below:
                                                  -------------
                    (b)   Measured from February 27, 2001 (the "Vesting
Measurement Date"), the Purchaser shall acquire a vested interest in, and the
Repurchase Right shall lapse (i) with respect to one-fourth (1/4) of the Shares
                                                 ----------  ---
on the first (1st) anniversary of the Vesting Measurement Date; and (ii) with
       -----  ---
respect to the remaining Unvested Shares, in a series of thirty-six (36)
                                                         ----------  --
successive monthly installments each equal to one-thirty-sixth (1/36) of the
                                              ----------------  ----
Unvested Shares, such that all Shares shall become vested on the fourth (4/th/)
                                                                 ------  ---
anniversary of the Vesting Measurement Date. All Shares as to which the
Repurchase Right lapses shall, however, continue to be subject to (x) the First
Refusal Right under Article 6 below, and (y) the market stand-off provisions of
                    ---------
Section 3.3 above.
-----------

              5.4   Fractional Shares. No fractional shares shall be repurchased
                    -----------------
by the Company. Accordingly, should the Repurchase Right extend to a fractional
share at the time the Purchaser ceases to be a Service Provider, then such
fractional share shall be added to any fractional share in which the Purchaser
is at such time vested in order to make one whole vested share no longer subject
to the Repurchase Right.

              5.5   Additional Shares or Substituted Securities. In the event of
                    -------------------------------------------
any stock dividend, stock split, recapitalization or other change affecting the
Company's outstanding Common Stock as a class effected without receipt of
consideration, then any new, substituted or additional securities or other
property (including money paid other than as a regular cash dividend) which is
by reason of any such transaction distributed with respect to the Shares shall

                                       -5-

<PAGE>

be immediately subject to the Repurchase Right, but only to the extent the
Shares are at the time covered by such right. Appropriate adjustments to reflect
the distribution of such securities or property shall be made to the number of
Shares hereunder and to the price per share to be paid upon the exercise of the
Repurchase Right in order to reflect the effect of any such transaction upon the
Company's capital structure; provided, however, that the aggregate Purchase
                             --------  -------
Price shall remain the same.

          5.6  Vesting Acceleration Event. In the event of the occurrence of a
               --------------------------
Vesting Acceleration Event (defined below), then the Unvested Shares Repurchase
Right shall automatically terminate in its entirety, and the Purchaser shall
acquire a vested interest in all of the Shares immediately upon the completion
of such Vesting Acceleration Event; provided, however, in the event of the
                                    --------  -------
occurrence of any of the events described in subsections (a), (b) and (c) below
                                             -----------  -    -       -
(each a "Corporate Transaction"), the Unvested Share Repurchase Right shall not
be affected (e.g., such right shall not lapse or otherwise terminate), if,
             ---
following the consummation of such Corporate Transaction, the Company's
stockholders of record immediately prior to such Corporate Transaction hold more
than fifty percent (50%) of the voting power of the surviving or acquiring
     -------------  --
entity. For purposes of this Section 5.6, a "Vesting Acceleration Event" is
                             -----------
defined as any of the following:

               (a)  the acquisition of the Company by another entity by means of
any transaction or series of related transactions (including, without
limitation, any reorganization, merger or consolidation but excluding any merger
effected exclusively for the purpose of changing the domicile of the Company);

               (b) the sale, transfer or other disposition of all or
substantially all of the assets of the Company;

               (c) a sale of all or substantially all of the capital stock of
the Company; or

               (d) the Purchaser's death or permanent and total disability, as
defined in Title 26, Section 22(e)(3) of the Internal Revenue Code (26
           --------  ----------------                               --
U.S.C.(s).22(e)(3)).
------------------

     6.   Right of First Refusal.
          ----------------------

          6.1  Grant. The Company is hereby granted the right of first refusal
               -----
(the "First Refusal Right"), exercisable in connection with any proposed sale or
other transfer of the Shares in which the Purchaser has vested in accordance
with Article 5 above. For purposes of this Article 6, the term "transfer" shall
     ---------                             ---------
include any assignment, pledge, encumbrance or other disposition for value of
the Shares intended to be made by the Owner, but shall not include any of the
permitted transfers under Section 4.1 above.
                          -----------

          6.2  Notice of Intended Disposition. In the event the Owner desires to
               ------------------------------
accept a bona fide third-party offer for any or all of the Shares (the shares
subject to such offer to be hereinafter called, for purposes of this Article 6,
                                                                     ---------
the "Target Shares"), the Owner shall promptly (i) deliver to the Secretary of
the Company written notice (the "Disposition Notice") of the offer and the basic
terms and conditions thereof, including the proposed purchase price, and

                                       -6-

<PAGE>

(ii) provide satisfactory proof that the disposition of the Target Shares to the
third-party offeror would not contravene the provisions of Articles 2 and 3
                                                           ----------     -
above.

          6.3  Exercise of Right.
               -----------------

               (a)  The Company (or its assignees) shall, for a period of thirty
                                                                          ------
(30) days following receipt of the Disposition Notice, have the right to
 --
repurchase any or all of the Target Shares specified in the Disposition Notice
upon substantially the same terms and conditions specified therein. Such right
shall be exercisable by written notice (the "Exercise Notice") delivered to the
Owner prior to the expiration of the thirty (30) day exercise period. If such
                                     ------  --
right is exercised with respect to all the Target Shares specified in the
Disposition Notice, then (i) the Company (or its assignees) shall effect the
repurchase of the Target Shares, including payment of the purchase price, not
more than five (5) business days after delivery of the Exercise Notice; and (ii)
          ----  -
at the time of such repurchase, the Owner shall deliver to the Company the
certificates representing the Target Shares to be repurchased, properly endorsed
for transfer. If any of the Target Shares are at the time held in escrow under
Article 7 below, the certificates for such shares shall automatically be
---------
released from escrow and surrendered to the Company for cancellation. The Target
Shares so purchased shall thereupon be cancelled and cease to be issued and
outstanding shares of the Company's Common Stock.

               (b)  In the event that the purchase price specified in the
Disposition Notice is payable in property other than cash or evidences of
indebtedness, the Company (or its assignees) shall have the right to pay the
purchase price in the form of cash equal in amount to the value of such
property. If the Owner and the Company (or its assignees) cannot agree on such
cash value within ten (10) days after the Company's receipt of the Disposition
                  ---  --
Notice, the valuation shall be made by an appraiser of recognized standing
mutually selected by the Owner and the Company (or its assignees); provided,
                                                                   --------
however, that if the Owner and the Company cannot agree on an appraiser within
-------
twenty (20) days after the Company's receipt of the Disposition Notice, each
------  --
shall select an appraiser of recognized standing and the two appraisers shall
designate a third appraiser of recognized standing, whose appraisal shall be
determinative of such value. The cost of such appraisal shall be shared equally
by the Owner and the Company. The closing shall then be held on the latter of
(i) the fifth (5/th) business day following delivery of the Exercise Notice or
        -----  -----
(ii) the fifteenth (15/th) day after such cash valuation shall have been made.
         ---------  ------

          6.4  Non-Exercise of Right. In the event the Exercise Notice is not
               ---------------------
given to the Owner within thirty (30) days following the date of the Company's
                          ------  --
receipt of the Disposition Notice, the Owner shall have a period of thirty (30)
                                                                    ------  --
days thereafter in which to sell or otherwise dispose of the Target Shares upon
terms and conditions (including the purchase price) no more favorable to the
third-party purchaser than those specified in the Disposition Notice; provided,
                                                                      --------
however, that any such sale or disposition must not contravene the provisions of
-------
Article 2 above. If any of the Target Shares are at the time held in escrow
---------
under Article 7 below, the certificates for such shares shall automatically be
      ---------
released from escrow and surrendered to the Owner. The third-party purchaser
shall acquire the Target Shares free and clear of all the terms and provisions
of this Agreement (including the Company's Repurchase Right under Article 5
                                                                  ---------
above and the First Refusal Right under this Article 6). If the Owner does not
                                             ---------
sell or otherwise dispose of the Target Shares within the specified thirty (30)
                                                                    ------  --
day period, the Company's First Refusal

                                       -7-

<PAGE>

Right shall continue to apply to any subsequent disposition of the Target Shares
by the Owner until such right lapses in accordance with Section 6.7 below.
                                                        -----------

          6.5  Partial Exercise of Right. In the event the Company (or its
               -------------------------
assignees) makes a timely exercise of the First Refusal Right with respect to a
portion, but not all, of the Target Shares specified in the Disposition Notice,
the Owner shall have the option, exercisable by written notice to the Company
delivered within thirty (30) days after the date of the Disposition Notice, to
                 ------  --
effect the sale of the Target Shares pursuant to one of the following
alternatives: (i) sale or other disposition of all the Target Shares to a
third-party purchaser in compliance with the requirements of Section 6.4 above,
                                                             -----------
as if the Company did not exercise the First Refusal Right hereunder; or (ii)
sale to the Company (or its assignees) of the portion of the Target Shares which
the Company (or its assignees) has elected to purchase, such sale to be effected
in substantial conformity with the provisions of Section 6.3 above. Failure of
                                                 -----------
the Owner to deliver timely notification to the Company under this Section 6.5
                                                                   -----------
shall be deemed to be an election by the Owner to sell the Target Shares
pursuant to clause (i) above.

          6.6  Recapitalization.
               ----------------

               (a)  In the event of any stock dividend, stock split,
recapitalization or other transaction affecting the Company's outstanding Common
Stock as a class effected without receipt of consideration, then any new,
substituted or additional securities or other property which is by reason of
such transaction distributed with respect to the Shares shall be immediately
subject to the Company's First Refusal Right hereunder, but only to the extent
the Shares are at the time covered by such right.

               (b)  In the event of a Corporate Transaction (as defined in
Section 5.6 above), the Company's First Refusal Right shall remain in full force
-----------
and effect and shall apply to the new capital stock or other property received
in exchange for the Shares in consummation of the Corporate Transaction, but
only to the extent the Shares are at the time covered by such right.

          6.7  Lapse. The First Refusal Right under this Article 6 shall lapse
               -----                                     ---------
and cease to have effect upon the earliest to occur of (i) the first date on
which shares of the Company's Common Stock are held of record by more than five
                                                                           ----
hundred (500) persons; (ii) the determination by the Company's Board of
-------  ---
Directors that a public market exists for the outstanding shares of the
Company's Common Stock; or (iii) the closing of a firm commitment underwritten
public offering pursuant to an effective registration statement under the 1933
Act, covering the offer and sale of the Company's Common Stock.

          6.8  Legend. In addition to the legends required by Section 2.4 above,
               ------                                         -----------
all certificates representing Shares subject to the Company's Right of
Repurchase and the Right of First Refusal shall be endorsed with the following
legend:

     "THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD,
     TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN
     COMPLIANCE WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN THE
     COMPANY AND THE INITIAL HOLDER HEREOF. SUCH AGREEMENT PROVIDES
     FOR CERTAIN RESTRICTIONS

                                       -8-

<PAGE>

     ON TRANSFER OF THE SECURITIES, INCLUDING RIGHTS OF FIRST REFUSAL UPON
     AN ATTEMPTED TRANSFER OF THE SECURITIES AND CERTAIN REPURCHASE RIGHTS
     IN FAVOR OF THE COMPANY UPON TERMINATION OF SERVICE WITH THE COMPANY.
     THE SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY
     OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE."

     7.   Escrow.
          ------

          7.1  Deposit. Upon issuance, the certificates for the Shares shall be
               -------
deposited in escrow with the Secretary of the Company to be held in accordance
with the provisions of this Article 7. Each deposited certificate shall be
                            ---------
accompanied by a duly executed Assignment Separate from Certificate in the form
of Exhibit A, attached hereto. The deposited certificates, together with any
   ---------
other assets or securities from time to time deposited with the Company pursuant
to the requirements of this Agreement, shall remain in escrow until such time or
times as the certificates (or other assets and securities) are to be released or
otherwise surrendered for cancellation in accordance with Section 7.3 below.
                                                          -----------
Upon delivery of the certificates (or other assets and securities) to the
Company, the Owner shall be issued an instrument of deposit acknowledging the
number of Shares (or other assets and securities) delivered in escrow to the
Secretary of the Company.

          7.2  Recapitalization. All regular cash dividends on the Shares (or
               ----------------
other securities at the time held in escrow) shall be paid directly to the Owner
and shall not be held in escrow. However, in the event of any stock dividend,
stock split, recapitalization or other change affecting the Company's
outstanding Common Stock as a class effected without receipt of consideration or
in the event of a Corporate Transaction, any new, substituted or additional
securities or other property which is by reason of such transaction distributed
with respect to the Shares shall be immediately delivered to the Secretary of
the Company to be held in escrow under this Article 7, but only to the extent
                                            ---------
the Shares are at the time subject to the escrow requirements of Section 7.1
                                                                 -----------
above.

          7.3  Release/Surrender. The Shares, together with any other assets or
               -----------------
securities held in escrow hereunder, shall be subject to the following terms and
conditions relating to their release from escrow or their surrender to the
Company for repurchase and cancellation:

               (a)  Should the Company exercise the Repurchase Right under
Article 5 above with respect to any Unvested Shares, then the escrowed
---------
certificates for such Unvested Shares (together with any other assets or
securities issued with respect thereto) shall be delivered to the Company for
cancellation, concurrently with the payment to the Owner, in cash or cash
equivalent (including the cancellation of any purchase-money indebtedness), of
an amount equal to the aggregate Purchase Price for such Unvested Shares, and
the Owner shall have no further rights with respect to such Unvested Shares (or
other assets or securities).

               (b)  Should the Company exercise its First Refusal Right under
Article 6 above with respect to any Target Shares held at the time in escrow
---------
hereunder, then the escrowed certificates for such Target Shares (together with
any other assets or securities issued

                                       -9-

<PAGE>

with respect thereto) shall, concurrently with the payment of the purchase price
(described in Section 6.3 above) for such Target Shares to the Owner, be
              -----------
surrendered to the Company for cancellation, and the Owner shall have no further
rights with respect to such Target Shares (or other assets or securities).

               (c)  Should the Company elect not to exercise its First Refusal
Right under Article 6 above with respect to any Target Shares held at the time
            ---------
in escrow hereunder, then the escrowed certificates for such Target Shares
(together with any other assets or securities issued with respect thereto) shall
be surrendered to the Owner for disposition according to the provisions of
Section 6.4 above.
-----------

               (d)  As the interest of the Purchaser in the Shares (or any other
assets or securities issued with respect thereto) vests in accordance with the
provisions of Article 5 above, the certificates for such vested shares (as well
              ---------
as all other vested assets and securities) shall be released from escrow and
delivered to the Owner, if requested by the Owner, in accordance with the
following schedule:

                    (1) Releases of vested shares (or other vested assets and
securities) from escrow shall be effected at annual intervals, with the first
such annual release to occur twelve (12) months after the Vesting Measurement
                             ------  --
Date;

                    (2) Upon the Purchaser's cessation of Service Provider
status, any escrowed Shares (or other assets or securities) in which the
Purchaser is at the time vested shall be promptly released from escrow; and

                    (3) Upon any earlier termination of the Company's Repurchase
Right in accordance with the applicable provisions of Article 5 above, the
                                                      ---------
Shares (or other assets or securities) at the time held in escrow hereunder
shall promptly be released to the Owner as fully vested shares or other
property.

               (e)  All Shares (or other assets or securities) released from
escrow in accordance with the provisions of subsection (d) above shall
nevertheless remain subject to the First Refusal Right under Article 6 above and
                                                             ---------
the market stand-off provisions of Section 3.3 above until such provisions
                                   -----------
terminate in accordance herewith.

     8.   General Provisions.
          ------------------

          8.1  Assignment. The Company may assign its Repurchase Rights under
               ----------
Article 5 above and/or its First Refusal Right under Article 6 above to any
---------                                            ---------
person or entity selected by the Company's Board of Directors, including one or
more stockholders of the Company; provided, however, that if the assignee of the
                                  --------  -------
Repurchase Right is other than a parent or subsidiary corporation of the
Company, then such assignee must make a cash payment to the Company, upon the
assignment of the Repurchase Right, in an amount equal to the excess (if any) of
the fair market value of the Unvested Shares at the time subject to the
Repurchase Right (as determined by the Company's Board of Directors) and the
aggregate Repurchase Price payable for such Unvested Shares.

                                      -10-

<PAGE>

     8.2 Definitions. For purposes of this Agreement, the following provisions
         -----------
shall be applicable in determining the parent and subsidiary corporations of the
Company:

         (a) Any corporation (other than the Company) in an unbroken chain of
corporations ending with the Company shall be considered to be a parent
corporation of the Company, provided each such corporation in the unbroken chain
(other than the Company) owns, at the time of the determination, stock
possessing fifty percent (50%) or more of the total combined voting power of all
           -------------  --
classes of stock in one of the other corporations in such chain.

         (b) Each corporation (other than the Company) in an unbroken chain of
corporations beginning with the Company shall be considered to be a subsidiary
of the Company, provided each such corporation (other than the last corporation)
in the unbroken chain owns, at the time of the determination, stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of
-------------  --
stock in one of the other corporations in such chain.

     8.3 No Employment or Service Contract. Nothing in this Agreement shall
confer upon the Purchaser any right to continue in the service of the Company
(or any parent or subsidiary corporation of the Company) for any period of time
or restrict in any way the rights of the Company (or any parent or subsidiary
corporation of the Company) or the Purchaser, to terminate the Service Provider
status of the Purchaser at any time for any reason whatsoever, with or without
cause.

     8.4 Notices. Any notice required in connection with (i) the Repurchase
         -------
Right or the First Refusal Right or (ii) the disposition of any Shares covered
thereby shall be given in writing and shall be deemed effective upon personal
delivery, upon deposit with a nationally recognized courier service, or upon
deposit in the United States mail, registered or certified, postage prepaid and
addressed to the party entitled to such notice at the address indicated below
such party's signature line on this Agreement or at such other address as such
party may designate by ten (10) days advance written notice under this Section
                                                                       -------
8.4 to all other parties to this Agreement.
---

     8.5 No Waiver. The failure of the Company (or its assignees) in any
         ---------
instance to exercise the Repurchase Right granted under Article 5 above, or the
                                                        ---------
failure of the Company (or its assignees) in any instance to exercise the First
Refusal Right granted under Article 6 above, shall not constitute a waiver of
                            ---------
any other repurchase rights and/or rights of first refusal that may subsequently
arise under the provisions of this Agreement or any other agreement between the
Company and the Purchaser. No waiver of any breach or condition of this
Agreement shall be deemed to be a waiver of any other or subsequent breach or
condition, whether of like or different nature.

     8.6 Cancellation of Shares. If the Company (or its assignees) shall make
         ----------------------
available, at the time and place and in the amount and form provided in this
Agreement, the consideration for the Shares to be repurchased in accordance with
the provisions of this Agreement, then from and after such time, the person from
whom such shares are to be repurchased shall no longer have any rights as a
holder of such shares (other than the right to receive payment of such
consideration in accordance with this Agreement), and such shares shall be
deemed purchased in accordance with the applicable provisions hereof and the
Company (or

                                       -11-

<PAGE>

its assignees) shall be deemed the owner and holder of such shares, whether or
not the certificates therefor have been delivered as required by this Agreement.

    9. Miscellaneous Provisions.
       ------------------------

       9.1 Purchaser Undertaking. The Purchaser hereby agrees to take whatever
           ---------------------
additional action and execute whatever additional documents the Company may in
its judgment deem necessary or advisable in order to carry out the obligations
or restrictions imposed on the Purchaser under this Agreement.

       9.2 Agreement Is Entire Contract.  This Agreement constitutes the entire
           ----------------------------
contract between the parties hereto with regard to the subject matter hereof.

       9.3 Governing Law.  This Agreement shall be governed by, and construed in
           -------------
accordance with, the laws of the State of California, as such laws are applied
to contracts entered into and performed in such State.

       9.4 Counterparts. This Agreement may be executed in one or more
           ------------
counterparts, each of which shall be deemed to be an original, but all of which
together shall constitute one and the same instrument.

       9.5 Successors and Assigns. The provisions of this Agreement shall inure
           ----------------------
to the benefit of, and be binding upon, the Company and its successors and
assigns and the Purchaser and the Purchaser's legal representatives, heirs,
legatees, distributees, assigns and transferees by operation of law, whether or
not any such person shall have become a party to this Agreement and have agreed
in writing to join herein and be bound by the terms and conditions hereof.

                                       -12-

<PAGE>

      IN WITNESS WHEREOF, the parties have executed this Agreement on the day
and year first indicated above.

                                            MJBC CORP.

                                            By:    _____________________________
                                            Name:  _____________________________
                                            Title: _____________________________

                                            PURCHASER:

                                            ____________________________________
                                            *

_______________________

*     I have received and retained the I.R.C. Section 83(b) election that was
attached hereto as Exhibit B. As set forth in Section 3.2, I understand that I,
                   ---------                  -----------
and not the Corporation, will be responsible for completing the form and filing
    ---
the election with the Internal Revenue Service and that if such filing is not
completed within thirty (30) days after the date of this Agreement, I will
                 ------  --
forfeit the significant tax benefits of Section 83(b). I understand further that
such filing should be made by registered or certified mail, return receipt
requested, and that I must retain two (2) copies of the completed form for
                                  ---  -
filing with my state and federal tax returns for the current tax year and an
additional copy for my records.

                                       -13-

<PAGE>

                                 Spousal Consent
                                 ---------------

     ________________ (the Purchaser's spouse) indicates by the execution of
this Agreement his consent to be bound by the terms herein as to his interests,
whether as community property or otherwise, if any, in the Shares.

                                                --------------------------------
                                                           (Signature)

                                                --------------------------------
                                                         (Printed Name)

                                       -14-

<PAGE>

                                    EXHIBIT A
                                    ---------

                      Assignment Separate From Certificate
                      ------------------------------------

         FOR VALUE RECEIVED __________________ ("Stockholder") hereby sells,
assigns and transfers unto MJBC CORP., a Delaware corporation (the "Company"),
____________ (___) shares of Common Stock of the Company represented by
Certificate No. _____ herewith and does hereby irrevocably constitute and
appoint ________________ Attorney to transfer the said stock on the books of the
Company with full power of substitution in the premises.

         Dated:  ____________, 20__.

                                             -----------------------------------
                                                         (Signature)

                                 Spousal Consent
                                 ---------------

         ________________ (the Purchaser's spouse) indicates by the execution of
this Assignment his consent to be bound by the terms herein as to his interests,
whether as community property or otherwise, if any, in the Shares.

                                             -----------------------------------
                                                         (Signature)

                                             -----------------------------------
                                                        (Printed Name)

INSTRUCTIONS: PLEASE DO NOT FILL IN ANY BLANKS OTHER THAN THE SIGNATURE LINE.
THE PURPOSE OF THIS ASSIGNMENT IS TO ENABLE THE COMPANY TO EXERCISE ITS
"REPURCHASE OPTION" SET FORTH IN THE AGREEMENT WITHOUT REQUIRING ADDITIONAL
SIGNATURES ON THE PART OF PURCHASER.

                                       A-1

<PAGE>

                                    EXHIBIT B
                                    ---------

                         ELECTION UNDER SECTION 83(b) OF
                            THE INTERNAL REVENUE CODE

     The undersigned hereby makes an election pursuant to Section 83(b) of the
Internal Revenue Code with respect to the property described below and supplies
the following information in accordance with the regulations promulgated
thereunder:

(A)  The name, address and social security number of the undersigned:

             -------------------------------------------------------------------

             -------------------------------------------------------------------

             -------------------------------------------------------------------

             Social Security No.: ______________________________________________

(B)  Description of property with respect to which the election is being made:

             _______ shares of Common Stock of MJBC CORP. (the "Company").

(C)  The date on which the property was transferred is __________, 2001.

(D)  The taxable year to which this election relates is calendar year 2001.

(E)  Nature of restrictions to which the property is subject: The shares of
stock transferred to the undersigned taxpayer are subject to the provisions of a
Restricted Stock Purchase Agreement between the undersigned and the Company.
Under the provisions of the Agreement, the Company will have the right to
repurchase the stock at a price which may be less than the fair market value of
the shares in the event of the undersigned's termination of employment with the
Company.

(F)  The fair market value of the property at the time of transfer (determined
without regard to any lapse restriction) was $0.005 per share, for a total of
$ ________.

(G)  The amount paid by taxpayer for the property was $_____.

(H)  A copy of this statement has been furnished to the Company.

Dated:  __________, 2001

                                                 -------------------------------
                                                           (Signature)

                                      B-1Inverstors' Rights Agreement

 EXHIBIT 4.3 
  
 EXECUTION COPY 
  
 XCEL PHARMACEUTICALS, INC. 
  
 SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 
  
 March 31, 2003 

 TABLE OF CONTENTS 
  

	 	  	 	  	 	  	Page

	 1.
	  	 Registration Rights
	  	1
	 	  	 1.1
	  	Definitions	  	2
	 	  	 1.2
	  	Request for Registration	  	3
	 	  	 1.3
	  	Company Registration	  	4
	 	  	 1.4
	  	Obligations of the Company	  	5
	 	  	 1.5
	  	Furnish Information	  	6
	 	  	 1.6
	  	Expenses of Registration	  	6
	 	  	 1.7
	  	Form S-3 Registration	  	7
	 	  	 1.8
	  	Underwriting Requirements	  	7
	 	  	 1.9
	  	Delay of Registration	  	8
	 	  	 1.10
	  	Indemnification	  	8
	 	  	 1.11
	  	Reports Under Securities Exchange Act of 1934	  	10
	 	  	 1.12
	  	Assignment of Registration Rights	  	11
	 	  	 1.13
	  	Limitations on Subsequent Registration Rights	  	11
	 	  	 1.14
	  	“Market Stand-Off” Agreement	  	11
	 	  	 1.15
	  	Termination of Registration Rights.	  	12
			
	 2.
	  	 Covenants of the Company
	  	12
	 	  	 2.1
	  	Delivery of Financial Statements.	  	12
	 	  	 2.2
	  	Inspection	  	13
	 	  	 2.3
	  	Termination of Information and Inspection Covenants	  	13
			
	 3.
	  	 Miscellaneous
	  	13
	 	  	 3.1
	  	Permitted Assigns	  	13
	 	  	 3.2
	  	Successors and Assigns	  	14
	 	  	 3.3
	  	Governing Law	  	14
	 	  	 3.4
	  	Counterparts	  	14
	 	  	 3.5
	  	Titles and Subtitles	  	14
	 	  	 3.6
	  	Notices	  	14
	 	  	 3.7
	  	Expenses	  	14
	 	  	 3.8
	  	Amendments and Waivers	  	14
	 	  	 3.9
	  	Severability	  	14
	 	  	 3.10
	  	Aggregation of Stock	  	15
	 	  	 3.11
	  	Entire Agreement	  	15
	 	  	 3.12
	  	Condition Precedent to Agreement	  	15

  
 Schedule
A    Schedule of Investors 
  

 -i- 

 SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 
  
 This Second Amended and Restated Investors’ Rights Agreement (this
“Agreement”) is made on the 31st day of March, 2003, by and among the following persons or entities: 
  

	 	·	 	Xcel Pharmaceuticals, Inc., a Delaware corporation (the “Company”), 

	 	·	 	The investors listed on Schedule A hereto under the caption “Series A Investors” (each a “Series A Investor”), 

	 	·	 	the investors listed on Schedule A hereto under the caption “Series B Investors” (each a “Series B Investor”), and 

	 	·	 	the investors listed on Schedule A hereto under the caption “Series C Investors” (each a “Series C Investor,” and collectively with the Series A
Investors and the Series B Investors, the “Investors”). 

  
 RECITALS 
  
 A.    The Company, the Series A Investors and Series B Investors are parties to that certain Amended and Restated Investors’ Rights Agreement dated June 24, 2002 (the “Prior Agreement”), pursuant to
which the Company granted certain registration and other rights to the Series A Investors and Series B Investors; 
  
 B.    The Company and the Series C Investors are parties to the Series C-1 Preferred Stock Purchase Agreement of even date herewith
(the “Series C Agreement”) pursuant to which the Series C Investors are purchasing shares of the Company’s Series C-1 Preferred Stock (the “Series C-1 Preferred Stock”); and 
  
 C.    In order to induce the Company to enter into the
Series C Agreement and to induce the Series C Investors to invest funds in the Company pursuant to the Series C Agreement, the Series A Investors, the Series B Investors, the Series C Investors and the Company hereby agree that this
Agreement, upon the delivery of executed signature pages to this Agreement by (i) the Company and (ii) Series A Investors and Series B Investors together holding not less than a majority of the aggregate issued and outstanding shares of
the Series A Preferred Stock (defined below) and Series B Preferred Stock (defined below), each on an as-converted to Common Stock basis, that are subject to the Prior Agreement, shall supersede and replace the Prior Agreement and shall govern
the rights of the Investors to cause the Company to register shares of its Common Stock (the “Common Stock”) issuable to the Investors and certain other matters as set forth herein. 
  
 NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS: 
  
 AGREEMENT 
  
 1.    Registration Rights. The Company covenants and agrees as follows: 

 1.1    Definitions. For purposes of this Section 1: 

 
 (a)    The term “Act” means the
Securities Act of 1933. 
  
 (b)    The term
“Form S-3” means such form under the Act as in effect on the date hereof or any registration form under the Act subsequently adopted by the SEC (defined below) which permits inclusion or incorporation of substantial information by
reference to other documents filed by the Company with the SEC. 
  
 (c)    The term “Holder” means any person owning or having the right to acquire Registrable Securities or any assignee thereof in accordance with Section 1.12 below. 
  
 (d)    The term “1934 Act” shall mean
the Securities Exchange Act of 1934. 
  
 (e)    The terms “register,” “registered,” and “registration” refer to a registration effected by preparing and filing a registration statement or similar document in
compliance with the Act, and the declaration or ordering of effectiveness of such registration statement or document. 
  
 (f)    The term “Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of any share
of Series A Preferred Stock, (ii) the Common Stock issued or issued upon conversion of any share of Series B Preferred Stock, (iii) the Common Stock issued or issued upon conversion of any share of Series C Preferred Stock and (iv) any Common Stock
issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of the shares referenced in clauses (i), (ii)
or (iii) above, excluding in all cases, however, any Registrable Securities (x) sold by a person in a transaction in which his or her rights under this Section 1 are not assigned, (y) which have previously been registered or (z) which have
been sold pursuant to Rule 144 under the Act. 
  
 (g)    The number of shares of “Registrable Securities then outstanding” shall be the number of shares of Common Stock that are Registrable Securities and are either (i) then issued and outstanding or
(ii) issuable pursuant to then exercisable or convertible securities. 
  
 (h)    The term “SEC” shall mean the Securities and Exchange Commission. 
  
 (i)    “Series A Preferred Stock” means, collectively, the Company’s Series A-1 Preferred Stock, Series A-2
Preferred Stock, Series A-3 Preferred Stock, Series A-4 Preferred Stock and any other class of preferred stock of the Company that may be issued from time to time by the Company and into which shares of Series A-1 Preferred Stock, Series A-2
Preferred Stock, Series A-3 Preferred Stock or Series A-4 Preferred Stock is converted or exchanged (e.g., Series A-5 Preferred Stock, Series A-6 Preferred Stock, Series A-7 Preferred Stock, and so on). 
  

 2 

 (j)    “Series B Preferred Stock” means, collectively, the
Company’s Series B-1 Preferred Stock, Series B-2 Preferred Stock, Series B-3 Preferred Stock, Series B-4 Preferred Stock and any other class of preferred stock of the Company that may be issued from time to time by the Company and into which
shares of Series B-1 Preferred Stock, Series B-2 Preferred Stock, Series B-3 Preferred Stock or Series B-4 Preferred Stock is converted or exchanged (e.g., Series B-5 Preferred Stock, Series B-6 Preferred Stock, Series B-7 Preferred Stock,
and so on). 
  
 (k)    “Series C
Preferred Stock” means, collectively, the Company’s Series C-1 Preferred Stock, Series C-2 Preferred Stock, Series C-3 Preferred Stock, Series C-4 Preferred Stock and any other class of preferred stock of the Company that may be issued
from time to time by the Company and into which shares of Series C-1 Preferred Stock, Series C-2 Preferred Stock, Series C-3 Preferred Stock or Series C-4 Preferred Stock is converted or exchanged (e.g., Series C-5 Preferred Stock, Series C-6
Preferred Stock, Series C-7 Preferred Stock, and so on). 
  
 1.2    Request for Registration. 
  
 (a) If the Company shall receive at any time after the earlier of (i) March 30, 2006, or (ii) six (6) months after the effective date of the first registration statement for a public offering of
securities of the Company (other than a registration statement relating either to the sale of securities to employees of the Company pursuant to a stock option, stock purchase or similar plan or a SEC Rule 145 transaction), a written request from
the Holders of not less than thirty percent (30%) the Registrable Securities then outstanding that the Company file a registration statement under the Act covering the registration of the greater of (x) thirty percent
(30%) of the Registrable Securities then outstanding, and (y) a number of Registrable Securities with an anticipated aggregate offering price, net of underwriting discounts and commissions, of at least Ten Million Dollars
($10,000,000), then the Company shall: 
  
 (i)    within ten (10) days of the receipt thereof, give written notice of such request to all Holders; and 
  
 (ii)    effect as soon as practicable, and in any event file within sixty (60) days (ninety (90) days for
an initial public offering of Common Stock) of the receipt of such request (which request must be made within twenty (20) days of the mailing by the Company of the notice described in Section 1.2(a)(i) above in accordance with
Section 3.6 below), the registration under the Act of all Registrable Securities which the Holders request to be registered, subject to the limitations of Section 1.2(b) below. 
  
 (b)    If the Holders initiating the registration
request hereunder (the “Initiating Holders”) intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to
Section 1.2(a) above and the Company shall include such information in the written notice referred to in Section 1.2(a) above. The underwriter will be selected by a majority of the Initiating Holders and shall be reasonably acceptable
to the Company. In such event, the right of any Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable

  

 3 

 Securities in the underwriting (unless otherwise mutually agreed by a majority in interest of the Initiating Holders and
such Holder) to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided in Section 1.4(e) below) enter into an underwriting agreement in customary
form with the underwriter or underwriters selected for such underwriting. Notwithstanding any other provision of this Section 1.2, if the underwriter advises the Initiating Holders in writing that marketing factors require a limitation of the
number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the number of shares of Registrable Securities that may be included in
the underwriting shall be allocated among all such Holders, including the Initiating Holders, in proportion (as nearly as practicable) to the amount of Registrable Securities of the Company owned by each such Holder; provided, however,
that the number of shares of Registrable Securities to be included in such underwriting shall not be reduced unless all other securities of the Company proposed to be included in such registration are first entirely excluded from the underwriting.

  
 (c)    Notwithstanding the foregoing, if
the Company shall furnish to Holders requesting a registration statement pursuant to this Section 1.2, a certificate signed by the Company’s Chief Executive Officer stating that in the good faith judgment of the Company’s Board of
Directors (the “Board”), it would be seriously detrimental to the Company and its stockholders for such registration statement to be filed and it is therefore essential to defer the filing of such registration statement, the Company
shall have the right to defer taking action with respect to such filing for a period of not more than one hundred twenty (120) days after receipt of the request of the Initiating Holders; provided, however, that the
Company may not utilize this right more than once in any twelve (12)-month period. 
  
 (d)    In addition, the Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to this
Section 1.2: 
  
 (i)    After the
Company has effected two (2) registrations pursuant to this Section 1.2 and such registrations have been declared or ordered effective; 
  
 (ii)    During the period starting with the date thirty (30) days prior to the Company’s good faith estimate of
the date of filing of, and ending on a date one hundred eighty (180) days after the effective date of, a registration subject to Section 1.3 below; provided that the Company is actively employing in good faith all reasonable
efforts to cause such registration statement to become effective; or 
  
 (iii)    If the Initiating Holders propose to dispose of shares of Registrable Securities that may be registered on Form S-3 pursuant to a request made pursuant to Section 1.7 below. 
  
 1.3    Company Registration. If the Company
proposes to register (including for this purpose a registration effected by the Company for stockholders other than the Holders) any of its stock or other securities under the Act in connection with the public offering of such securities solely for
cash (other than a registration pursuant to (a) a firmly underwritten initial public offering of shares of Common Stock at a per share price of not less than Ten Dollars 
  

 4 

 ($10.00) (before deducting underwriters’ discounts and commissions and as adjusted to reflect stock
dividends, stock splits, combinations and other recapitalizations) and an aggregate offering price of not less than Sixty Million Dollars ($60,000,000) (before deducting underwriters’ discounts and commissions) (a
“Qualifying IPO”) or (b) Form S-8 or Form S-4, or similar forms which may be promulgated in the future), the Company shall, at such time, promptly give each Holder written notice of such registration. Upon the written request of
each Holder given within twenty (20) days after mailing of such notice by the Company in accordance with Section 3.6 below, the Company shall, subject to the provisions of Section 1.8 below, cause to be registered under
the Act all of the Registrable Securities that each such Holder has requested to be registered. 
  
 1.4 Obligations of the Company. Whenever required under this Section 1 to effect the registration of any Registrable Securities, the Company
shall, as expeditiously as reasonably possible: 
  
 (a)
Prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority of the
Registrable Securities registered thereunder, keep such registration statement effective for a period of up to one hundred twenty (120) days; provided, however, that (i) such one hundred twenty (120)-day
period shall be extended for a period of time equal to the period the Holder refrains from selling any securities included in such registration at the request of an underwriter of Common Stock (or other securities) of the Company; and (ii) in the
case of any registration of Registrable Securities on Form S-3 which are intended to be offered on a continuous or delayed basis, such one hundred twenty (120)-day period shall be extended, if necessary, to keep the registration
statement effective until all such Registrable Securities are sold; provided, however, that Rule 415, or any successor rule under the Act, permits an offering on a continuous or delayed basis, and provided, further, that
applicable rules under the Act governing the obligation to file a post-effective amendment permit, in lieu of filing a post-effective amendment which (x) includes any prospectus required by Section 10(a)(3) of the Act or (y) reflects facts or events
representing a material or fundamental change in the information set forth in the registration statement, the incorporation by reference of information required to be included in clauses (x) and (y) above to be contained in periodic
reports filed pursuant to Section 13 or 15(d) of the 1934 Act in the registration statement. 
  
 (b) Prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions
of the Act with respect to the disposition of all securities covered by such registration statement. 
  
 (c) Furnish to the Holders such numbers of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of the Act,
and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them. 
  
 (d) Use its best efforts to register and qualify the securities covered by such registration statement under such other securities or Blue Sky laws of
such jurisdictions as 
  

 5 

 shall be reasonably requested by the Holders; provided, however, that the Company shall not be required in
connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may
be required by the Act. 
  
 (e) In the event of any underwritten
public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering. 
  
 (f) Notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus
relating thereto is required to be delivered under the Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to
state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. 
  

(g) Cause all such Registrable Securities registered pursuant to this Agreement to be listed on each securities exchange on which similar securities
issued by the Company are then listed. 
  
 (h) Provide a transfer
agent and registrar for all Registrable Securities registered pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration. 
  
 1.5 Furnish Information. It shall be a condition precedent to the
obligations of the Company to take any action pursuant to this Section 1 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable
Securities held by it, and the intended method of disposition of such securities as shall be required to effect the registration of such Holder’s Registrable Securities.  
  
 1.6 Expenses of Registration. All expenses other than underwriting discounts and commissions incurred in connection
with registrations, filings or qualifications pursuant to Sections1.2 and 1.3 above and Section 1.7 below, including (without limitation) all registration, filing and qualification fees, printers’ and accounting
fees, fees and disbursements of counsel for the Company and the fees and disbursements (not to exceed Fifteen Thousand Dollars ($15,000) for each registration) of one (1) counsel for the selling Holders shall be borne by
the Company; provided, however, that the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Section 1.2 above or Section 1.7 below if the registration request is
subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all participating Holders shall bear such expenses), unless the Holders of a majority of the Registrable Securities
agree to forfeit their right to one (1) demand registration pursuant to Section 1.2 above or one (1) registration on Form S-3 pursuant to Section 1.7 below, as applicable; and provided,
further, that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business, or prospects of the Company from that known to such Holders at the time of their request and have withdrawn the
request with reasonable promptness following disclosure by the  
  

 6 

 Company of such material adverse change, then the Holders shall not be required to pay any of such expenses and shall
retain their rights pursuant to Section 1.2 above or one (1) registration on Form S-3 pursuant to Section 1.7 below, as applicable. 
  
 1.7 Form S-3 Registration. In the event that the Company shall receive from any Holder or Holders of the Registrable
Securities then outstanding a written request or requests that the Company effect a registration on Form S-3 and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the
Company will: 
  
 (a) promptly give written notice of the
proposed registration, and any related qualification or compliance, to all other Holders; and 
  
 (b) as soon as practicable, effect such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such
Holder’s or Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holder or Holders joining in such request as are specified in a written request
given within fifteen (15) days after receipt of such written notice from the Company; provided, however, that the Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to
this Section 1.7: (i) if Form S-3 is not available for such offering by the Holders; (ii) if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable
Securities and such other securities (if any) at an aggregate price to the public (net of any underwriters’ discounts or commissions) of less than Two Million Five Hundred Thousand Dollars ($2,500,000); (iii) if the Company shall
furnish to the Holders a certificate signed by the Company’s Chief Executive Officer stating that in the good faith judgment of the Board, it would be seriously detrimental to the Company and its stockholders for such Form S-3 Registration to
be effected at such time, in which event the Company shall have the right to defer the filing of the Form S-3 registration statement for a period of not more than one hundred twenty (120) days after receipt of the request of the Holder
or Holders under this Section 1.7; provided, however, that the Company shall not utilize this right more than once in any twelve (12)-month period; or (iv) if the Company has, within the twelve
(12)-month period preceding the date of such request, already effected two (2) registrations on Form S-3 for the Holders pursuant to this Section 1.7. 
  
 (c) Subject to the foregoing, the Company shall file a registration statement covering the Registrable Securities and other
securities so requested to be registered as soon as practicable after receipt of the request or requests of the Holders. Registrations effected pursuant to this Section 1.7 shall not be counted as demands for registration or registrations
effected pursuant to Sections 1.2 or 1.3 above, respectively. 
  
 1.8 Underwriting Requirements. In connection with any offering involving an underwriting of shares of the Company’s capital stock, the Company shall not be required under Section 1.3 above to
include any of the Holders’ securities in such underwriting unless they accept the terms of the underwriting as agreed upon between the Company and the underwriters selected by it (or by other persons entitled to select the underwriters), and
then only in such quantity as the underwriters determine in their sole discretion will not jeopardize the success of  
  

 7 

 the offering by the Company. If the total amount of securities, including Registrable Securities, requested by
stockholders to be included in such offering exceeds the amount of securities sold other than by the Company that the underwriters determine in their sole discretion is compatible with the success of the offering, then the Company shall be required
to include in the offering only that number of such securities, including Registrable Securities, which the underwriters determine in their sole discretion will not jeopardize the success of the offering (the securities so included to be apportioned
pro rata among the selling stockholders according to the total amount of securities entitled to be included therein owned by each selling stockholder or in such other proportions as shall mutually be agreed to by such selling stockholders)
but in no event shall the amount of securities of the selling Holders included in the offering be reduced below twenty-five percent (25%) of the total amount of securities included in such offering, unless such offering is the initial
public offering of the Company’s securities in which case the selling stockholders (including, without limitation, the selling Holders) may be excluded entirely if the underwriters make the determination described above and no other
stockholder’s securities are included. For purposes of the preceding parenthetical concerning apportionment, for any selling stockholder which is a Holder of Registrable Securities and which is a partnership or corporation, the partners,
retired partners and stockholders of such Holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of the foregoing persons shall be deemed to be a single “selling
stockholder,” and any pro rata reduction with respect to such “selling stockholder” shall be based upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in
such “selling stockholder,” as defined in this sentence. 
  
 1.9   Delay of Registration.   No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any registration as the result of any controversy that might
arise with respect to the interpretation or implementation of this Section 1. 
  
 1.10   Indemnification.   In the event any Registrable Securities are included in a registration statement under this Section 1: 
  
 (a) To the extent permitted by law, the Company will indemnify and hold
harmless each Holder and such Holder’s officers, directors, affiliates, employees and representatives, any underwriter (as defined in the Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning
of the Act or the 1934 Act, against any losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Act or the 1934 Act insofar as such losses, claims, damages, or liabilities (or actions in respect thereof)
arise out of or are based upon any of the following statements, omissions or violations (collectively or individually, a “Violation”): (i) any untrue statement or alleged untrue statement of a material fact contained in such
registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or
necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Act, the 1934 Act, any state securities law or any rule or regulation promulgated under the Act, the 1934 Act or any state
securities law; and the Company will reimburse each such Holder, underwriter or controlling person any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability, or
action; provided, however, that the indemnity agreement contained in this 
  

 8 

 Section 1.10(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, or
action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any such case for any such loss, claim, damage, liability, or action to the extent that
it arises out of or is based upon a Violation that occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by any such Holder, underwriter or controlling person. 

 
 (b) To the extent permitted by law, each selling Holder will indemnify
and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Act, any underwriter, any other Holder selling securities
in such registration statement and any controlling person of any such underwriter or other Holder, against any losses, claims, damages, or liabilities (joint or several) to which any of the foregoing persons may become subject, under the Act, the
1934 Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation
occurs in reliance upon and in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such Holder will reimburse any legal or other expenses reasonably incurred by any person
intended to be indemnified pursuant to this Section 1.10(b), in connection with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the indemnity agreement contained in this
Section 1.10(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; and
provided, further, that, in no event shall any indemnity under this Section 1.10(b) exceed the gross proceeds from the offering received by such Holder. 
  
 (c) Promptly after receipt by an indemnified party under this Section 1.10 of notice of the commencement of any
action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 1.10, deliver to the indemnifying party a written notice of the
commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel
mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties which may be represented without conflict by one counsel) shall have the right to retain one
(1) separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing
interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if
prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 1.10, but the omission so to deliver written notice to the indemnifying party will not
relieve it of any liability that it may have to any indemnified party otherwise than under this Section 1.10. 
  

 9 

 (d) If the indemnification provided for in this Section 1.10 is held by a court of competent
jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage, or expense referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the
amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party
on the other in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified
party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified
party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. 
  
 (e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered
into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 
  
 (f) The obligations of the Company and Holders under this Section 1.10 shall survive the completion of any offering
of Registrable Securities in a registration statement under this Section 1, or otherwise. 
  
 1.11 Reports Under Securities Exchange Act of 1934. With a view to making available to the Holders the benefits of SEC Rule 144 and any other rule
or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company agrees to: 
  
 (a) make and keep public information available, as those terms are
understood and defined in SEC Rule 144, at all times after ninety (90) days after the effective date of the first registration statement filed by the Company for the offering of its securities to the general public; 
  
 (b) file with the SEC in a timely manner all reports and other documents
required of the Company under the Act and the 1934 Act; and 
  
 (c) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after
ninety (90) days after the effective date of the first registration statement filed by the Company), the Act and the 1934 Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a
registrant whose securities may be resold pursuant to Form S-3 (at any time after it so qualifies); (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company and (iii) such
other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC which permits the selling of any such securities without registration or pursuant to such form. 
  

 10 

 1.12   Assignment of Registration Rights.   The rights to cause the Company to
register Registrable Securities pursuant to this Section 1 may be assigned (but only with all related obligations) by a Holder to a transferee or assignee of such securities who, after such assignment or transfer, holds at least Two
Hundred Fifty Thousand (250,000) shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations and other recapitalizations); provided,  however that (a) the Company
is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned; (b) such transferee or
assignee agrees in writing to be bound by and subject to the terms and conditions of this Agreement, including without limitation the provisions of Section 1.14 below; and (c) such assignment shall be effective only if immediately following
such transfer the further disposition of such securities by the transferee or assignee is restricted under the Act. For the purposes of determining the number of shares of Registrable Securities held by a transferee or assignee, the holdings of
transferees and assignees of a partnership who are partners or retired partners of such partnership (including spouses and ancestors, lineal descendants and siblings of such partners or spouses who acquire Registrable Securities by gift, will or
intestate succession) shall be aggregated together and with the partnership; provided, however, that all assignees and transferees who would not qualify individually for assignment of registration rights shall have a single
attorney-in-fact for the purpose of exercising any rights, receiving notices or taking any action under this Section 1. 
  
 1.13   Limitations on Subsequent Registration Rights.   From and after the date of this Agreement, the Company shall not,
without the prior written consent of the Holders of a majority of the outstanding Registrable Securities, enter into any agreement with any holder or prospective holder of any securities of the Company giving such holder or prospective holder any
registration rights, unless the terms of such agreement provide that such registration rights are subordinate to the registration rights granted to the Holders hereunder. 
  
 1.14   “Market Stand-Off” Agreement.   Each Investor hereby agrees that, during the
period of duration specified by the Company and an underwriter of Common Stock or other securities of the Company, following the date of the first sale to the public pursuant to a registration statement of the Company filed under the Act, it shall
not, to the extent requested by the Company and such underwriter, directly or indirectly sell, offer to sell, contract to sell (including, without limitation, any short sale), grant any option to purchase or otherwise transfer or dispose of (other
than to donees who agree to be similarly bound) any securities of the Company held by it at any time during such period except Common Stock included in such registration, provided,  however, that: 
  
 (a) (i) all officers and directors of the Company and all other persons with
registration rights (whether or not pursuant to this Agreement) enter into similar agreements and (ii) the Company shall use commercially reasonable efforts to obtain similar agreements from all holders of one percent (1%) or more of
its capital stock; and 
  
 (b) such market stand-off time period
(i) shall apply only to the first effective registration statement of the Company which covers Common Stock (or other securities) to be sold on its behalf to the public in an underwritten offering and (ii) shall not exceed (i) one hundred
eighty (180) days from the date of the prospectus with respect thereto. 
  

 11 

 In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with
respect to the Registrable Securities of each Investor (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 
  
 Notwithstanding the foregoing, the obligations described in this Section 1.14 shall not apply to a registration
relating solely to employee benefit plans on Form S-8 or similar forms which may be promulgated in the future, or a registration relating solely to a SEC Rule 145 transaction on Form S-4 or similar forms which may be promulgated in the future.

  
 1.15   Termination of Registration Rights.

  
 (a) No Holder shall be entitled to exercise any right
provided for in this Section 1 after five (5) years following the consummation of a Qualifying IPO. 
  
 (b) In addition, the right of any Holder to request registration or inclusion in any registration pursuant to this Section 1 shall terminate on
the closing of the first Company-initiated registered public offering of Common Stock if all shares of Registrable Securities held or entitled to be held upon conversion by such Holder may immediately be sold under SEC Rule 144 during any
ninety (90)-day period, or on such date after the closing of the first Company-initiated registered public offering of Common Stock as all shares of Registrable Securities held or entitled to be held upon conversion by such Holder may
immediately be sold under SEC Rule 144 during any ninety (90)-day period. 
  
 2.   Covenants of the Company. 
  
 2.1   Delivery of Financial Statements.   The Company shall deliver to each Investor that holds at least Five Hundred Thousand (500,000) shares of Registrable Securities
(subject to appropriate adjustment for stock splits, stock dividends, combination and other recapitalizations) (each such Investor, a “Qualified Investor”): 
  
 (a) as soon as practicable, but in any event within ninety (90) days after the end of each fiscal year of the
Company, an income statement for such fiscal year, a balance sheet of the Company and statement of stockholder’s equity as of the end of such year, and a schedule as to the sources and applications of funds for such year, such year-end
financial reports to be in reasonable detail, prepared in accordance with generally accepted accounting principles (“GAAP”), and audited and certified by independent public accountants of nationally recognized standing selected by
the Company; 
  
 (b) as soon as practicable, but in any event
within forty-five (45) days after the end of each of the first three (3) quarters of each fiscal year of the Company, an unaudited profit or loss statement, schedule as to the sources and application of funds for such
fiscal quarter, an unaudited balance sheet and a statement of stockholder’s equity as of the end of such fiscal quarter and a statement showing the number of shares of each class and series of capital stock and securities convertible into or
exercisable for shares of capital stock outstanding at the end of the period, the number of common shares issuable upon conversion or exercise of any outstanding securities convertible or exercisable for common shares and the exchange ratio or
exercise price applicable thereto, all in sufficient detail as to permit the Qualified Investor to calculate its percentage equity ownership in the Company; 
  

 12 

 (c) as soon as practicable, but in any event not less than forty-five (45) days prior to
the end of each fiscal year, a budget of sales and expenses and operating plan for the next fiscal year, prepared on a monthly basis, including balance sheets and sources and applications of funds statements for such months which such budget and
operating plan shall be approved by the Board prior to the end of each fiscal year, and, as soon as prepared, any other budgets or revised budgets prepared by the Company; 
  
 (d) with respect to the financial statements called for in subsection (b) above, an instrument executed by the
Corporation’s President or Chief Financial Officer certifying that such financials were prepared in accordance with GAAP consistently applied with prior practice for earlier periods (with the exception of footnotes that may be required by GAAP)
and fairly present the financial condition of the Company and its results of operation for the period specified, subject to year-end audit adjustment; and 
  
 (e) such other information relating to the financial condition, business, prospects or corporate affairs of the Company as the Qualified Investor may
from time to time request, provided, however, that the Company shall not be obligated under this subsection (e) or any other subsection of Section 2.1 to provide information which it deems in good faith to be a trade secret or
similar confidential information. 
  
 2.2  
Inspection.   The Company shall permit each Qualified Investor, at such Qualified Investor’s expense, to visit and inspect the Company’s properties, to examine its books of account and records and to discuss the
Company’s affairs, finances and accounts with its officers, all at such reasonable times as may be requested by the Qualified Investor; provided, however, that the Company shall not be obligated pursuant to this Section 2.2
to provide access to any information which it reasonably considers to be a trade secret or similar confidential information. 
  
 2.3   Termination of Information and Inspection Covenants.   The covenants set forth in Sections 2.1 and 2.2
above shall terminate as to all Qualified Investors and be of no further force or effect upon the earlier of (a) a Qualifying IPO or (b) when there are no outstanding Registrable Securities held by Qualified Investors. 
  
 3.   Miscellaneous. 
  
 3.1   Permitted Assigns.   Except as otherwise
expressly provided in Section 1.12 above, the rights and obligations of an Investor hereunder may be assigned only to (a) an Affiliate (as defined in Rule 405 of the Act), limited partner or general partner of an Investor, or another
Investor, but in each instance only when such Investor’s shares of Series A Preferred Stock, Series B Preferred Stock or Series C Preferred Stock (as applicable) are then being transferred to such assignee, or (b) such other person or entity to
whom or which such Investor’s shares of Series A Preferred Stock, Series B Preferred Stock or Series C Preferred Stock (as applicable) are then being transferred, but subject in the instance of this clause (b) to the prior written
consent of the Company (which consent may not be unreasonably withheld or delayed). 
  

 13 

 3.2 Successors and Assigns. Except as expressly provided herein, the rights and obligations of the
parties hereto may not be assigned. Without limiting the foregoing, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and, where applicable, permitted assigns of the parties.
Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and, where applicable, permitted assigns any rights, remedies, obligations, or liabilities under or by
reason of this Agreement, except as expressly provided in this Agreement. 
  
 3.3 Governing Law. This Agreement shall be governed by and construed under the laws of the State of California as applied to agreements among California residents entered into and to be performed entirely
within California. 
  
 3.4 Counterparts. This
Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
  
 3.5 Titles and Subtitles. The titles and subtitles used in this
Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 
  
 3.6 Notices. Unless otherwise provided, all notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a)
upon personal delivery to the party to be notified; (b) when sent by confirmed telex or facsimile if sent during normal business hours of the recipient, if not, then on the next business day; (c) five (5) days after having been sent by
registered or certified mail, return receipt requested, postage prepaid or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All
communications shall be sent to the address as set forth on the signature page hereof or at such other address as such party may designate by ten (10) days advance written notice to the other parties hereto. 
  
 3.7 Expenses. If any action at law or in equity is necessary to
enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 
  
 3.8 Amendments and Waivers. Any term of this Agreement may be amended
and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the holders of a majority of the Registrable
Securities then outstanding. Any amendment or waiver effected in accordance with this Section shall be binding upon each holder of any Registrable Securities then outstanding, each future holder of all such Registrable Securities, and the
Company. 
  
 3.9 Severability. If one or more
provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and  
  

 14 

 the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in
accordance with its terms. 
  
 3.10  
Aggregation of Stock.   For purposes of this Agreement, all shares of Registrable Securities held by a general partner, limited partner or affiliated partnership of an Investor that is a limited partnership shall be aggregated
together for purposes of determining the availability of the rights of such limited partnership Investor under this Agreement.  
  
 3.11   Entire Agreement.   This Agreement (including any schedules attached hereto) constitutes the full and entire
understanding and agreement between the parties with regard to the subjects hereof and thereof.  
  
 3.12   Condition Precedent to Agreement.   Prior to the Effective Date, the Company had granted certain registration rights
pursuant to the Prior Agreement. This Agreement will not take effect until the following parties have executed and delivered this Agreement: (a) the Company and (b) the holders of at least a majority of the outstanding Registrable Securities that
are subject to the Prior Agreement. Upon such execution and delivery, this Agreement shall supersede, and replace in its entirety, the Prior Agreement. 
  

[Signature page follows] 
  
  

 15 

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

  

	 XCEL PHARMACEUTICALS, INC.
  

		
	 By:
	  	 /s/     MICHAEL BORER

	 Name:
 Its:
  
 Address:
	  	 Michael T. Borer
 President and Chief
Executive Officer
  
 6363 Greenwich Drive, Suite 100
 San Diego, CA 92122

  
 [Signature
page to Second Amended and Restated Investors’ Rights Agreement] 
  

 16 

 SCHEDULE A 
  
 SCHEDULE OF INVESTORS 
  
 [OMITTED] 
  
 The exhibits and schedules have been omitted from this Agreement as filed with the Securities and Exchange Commission (the “SEC”). The omitted information is considered immaterial from an investor’s
perspective. The Registrant will furnish supplementally a copy of any of the documents to the SEC upon request of the SEC. 
  

 Schedule A-1

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