106
QuickLinks -- Click here to rapidly navigate through this document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 7, 2019 Glaukos Corporation (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation) 001-37463 (Commission File Number) 33-0945406 (IRS Employer Identification No.) 229 Avenida Fabricante, San Clemente, California (Address of principal executive offices) 92672 (Zip Code) Registrant's telephone number, including area code: (949) 367-9600 Not Applicable Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ý Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 Par Value GKOS New York Stock Exchange

QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

  • Upload
    others

  • View
    2

  • Download
    0

Embed Size (px)

Citation preview

Page 1: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

QuickLinks--Clickheretorapidlynavigatethroughthisdocument

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-KCURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

DateofReport(Dateofearliesteventreported)August 7, 2019

Glaukos Corporation (Exactnameofregistrantasspecifiedinitscharter)

Delaware (Stateorotherjurisdiction

ofincorporation)

001-37463 (CommissionFileNumber)

33-0945406 (IRSEmployerIdentificationNo.)

229 Avenida Fabricante, San Clemente, California(Addressofprincipalexecutiveoffices)

92672 (ZipCode)

Registrant'stelephonenumber,includingareacode:(949) 367-9600

Not Applicable Formernameorformeraddress,ifchangedsincelastreport.)

ChecktheappropriateboxbelowiftheForm8-Kfilingisintendedtosimultaneouslysatisfythefilingobligationoftheregistrantunderanyofthefollowingprovisions:

ý WrittencommunicationspursuanttoRule425undertheSecuritiesAct(17CFR230.425)

o SolicitingmaterialpursuanttoRule14a-12undertheExchangeAct(17CFR240.14a-12)

o Pre-commencementcommunicationspursuanttoRule14d-2(b)undertheExchangeAct(17CFR240.14d-2(b))

o Pre-commencementcommunicationspursuanttoRule13e-4(c)undertheExchangeAct(17CFR240.13e-4(c))

SecuritiesregisteredpursuanttoSection12(b)oftheAct:

IndicatebycheckmarkwhethertheregistrantisanemerginggrowthcompanyasdefinedinRule405oftheSecuritiesActof1933(§230.405ofthischapter)orRule12b-2oftheSecuritiesExchangeActof1934(§240.12b-2ofthischapter).

Emerginggrowthcompanyo

Ifanemerginggrowthcompany,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandardsprovidedpursuanttoSection13(a)oftheExchangeAct.o

Title of each class Trading Symbol(s) Name of each exchange on which registeredCommonStock,$0.001ParValue GKOS NewYorkStockExchange

Page 2: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Item 1.01 Entry into a Material Definitive Agreement.

Merger Agreement

OnAugust7,2019,GlaukosCorporation,aDelawarecorporation("Glaukos"),Avedro,Inc.,aDelawarecorporation("Avedro")andAtlanticMergerSub,Inc.,aDelawarecorporationandawhollyownedsubsidiaryofParent("MergerSub"),enteredintoanAgreementandPlanofMerger(the"MergerAgreement"),pursuanttowhich,amongotherthings,MergerSubwillbemergedwithandintoAvedro(the"Merger"),withAvedrocontinuingasthesurvivingcorporation.

TheboardofdirectorsofGlaukos(the"GlaukosBoard")(withMr.ThomasW.Burnsrecusinghimself)(i)determinedthatthetermsoftheMergerAgreement,theMergerandtheothertransactionscontemplatedbytheMergerAgreementarefairtoandinthebestinterestsofGlaukosanditsstockholders,and(ii)adopted,approvedanddeclaredadvisabletheMergerAgreementandthetransactionscontemplatedthereby,includingtheMerger.

SubjecttothetermsandconditionssetforthintheMergerAgreement,attheeffectivetimeoftheMerger(the"EffectiveTime"),eachshareofcommonstock,parvalue$0.00001pershare,ofAvedro("AvedroCommonStock")(otherthansharesofAvedroCommonStockownedbyGlaukos,MergerSuborAvedrooranydirectorindirectwhollyownedsubsidiaryofGlaukosorAvedro)issuedandoutstandingimmediatelypriortotheEffectiveTimewillbeautomaticallycancelledandconvertedintotherighttoreceive0.365(the"ExchangeRatio")ofashareofcommonstock,parvalue$0.001,ofGlaukos("GlaukosCommonStock"andsuchamountofshares,the"MergerConsideration").ThepartiesintendthatforU.S.federalincometaxpurposestheMergerqualifyasataxfree"reorganization"withinthemeaningofSection368(a)oftheInternalRevenueCode.

TheMergerAgreementalsoprovidesthat,attheEffectiveTime:

• EachoutstandingandunexercisedoptiontopurchaseAvedroCommonStock(whethervestedorunvested)(an"AvedroStockOption")willbeassumedbyGlaukosandconvertedintoanoption(an"AssumedStockOption")topurchaseanumberofsharesofGlaukosCommonStock(roundeddowntothenearestwholeshare)equaltotheproductofthenumberofsharesofAvedroCommonStocksubjecttosuchAvedroStockOptionimmediatelypriortotheEffectiveTimemultipliedbytheExchangeRatio.ThepershareexercisepricefortheGlaukosCommonStockissuableuponexerciseofsuchAssumedStockOptionwillbeequal(roundeduptothenearestwholecent)totheexercisepricepershareofAvedroCommonStockapplicabletosuchAvedroStockOptionimmediatelypriortotheEffectiveTimedividedbytheExchangeRatio.Otherwise,eachAssumedStockOptionwillbesubjecttothesametermsandconditions(includingexpirationdate,vestingandexerciseprovisions)aswasapplicabletothecorrespondingAvedroStockOptionimmediatelypriortotheEffectiveTime.

• Eachthen-outstandingrestrictedstockunitissuedbyAvedro(an"AvedroRSU")(butexcludinganyAvedroRSUthatbecomesvestedpriortoorasaresultoftheconsummationoftheMergerandissettledinsharesofAvedroCommonStockthatconvertsintotherighttoreceivetheMergerConsideration)willbeassumedbyGlaukos(an"AssumedRSU")andconvertedintotherighttoreceivethenumberofsharesofGlaukosCommonStock(roundeddowntothenearestwholeshare)equaltotheproductofthenumberofsharesofAvedroCommonStocksubjecttosuchAvedroRSUimmediatelypriortotheEffectiveTimemultipliedbytheExchangeRatio.Otherwise,eachAssumedRSUwillbesubjecttothesametermsandconditions(includingvesting,paymentandwithholdingprovisions)aswereapplicabletothecorrespondingAvedroRSUimmediatelypriortotheEffectiveTime.

• ThewarrantstopurchasesharesofAvedroCommonStock(an"AvedroWarrant")issuedinfavorofeachofHerculesTechnologyIII,L.P.andOrbiMedRoyaltyOpportunitiesII,LPthatareoutstandingandunexercisedasofimmediatelypriortotheEffectiveTimewillbeassumed

2

Page 3: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

byGlaukosandconvertedintoawarrant(an"AssumedWarrant")topurchaseanumberofsharesofGlaukosCommonStock(roundeddowntothenearestwholeshare)equaltotheproductofthenumberofsharesofAvedroCommonStocksubjecttosuchAvedroWarrantimmediatelypriortotheEffectiveTimemultipliedbytheExchangeRatio.ThepershareexercisepricefortheGlaukosCommonStockissuableuponexerciseofsuchAssumedWarrantwillbeequal(roundeduptothenearestwholecent)totheexercisepricepershareofAvedroCommonStockapplicabletosuchAvedroWarrantimmediatelypriortotheEffectiveTimedividedbytheExchangeRatio.Otherwise,eachAssumedWarrantwillbesubjecttothesametermsandconditions(includingexpirationdateandexerciseprovisions)aswasapplicabletothecorrespondingAvedroWarrantimmediatelypriortotheEffectiveTime.

• EachAvedroWarrant(otherthanAvedroWarrantsthatarebeingconvertedintoAssumedWarrants)willbecancelledandconvertedintotherighttoreceiveanumberofsharesofParentCommonStockequalto(i)thenumberofsharesofAvedroCommonStocksubjecttosuchAvedroWarrantmultipliedbytheExchangeRatiominus(ii)thequotientobtainedbydividingtheaggregateexercisepriceofsuchAvedroWarrantbythevolumeweightedaveragesofthetradingpriceofParentCommonStockforthefiveconsecutivetradingdatesendingthreetradingdayspriortotheconsummationoftheMerger.

GlaukoswillfilewiththeU.S.SecuritiesandExchangeCommission(the"SEC")aregistrationstatementonFormS-4(the"FormS-4")inconnectionwithitsissuanceofGlaukosCommonStockastheMergerConsideration.TheFormS-4willincludeaprospectusandaproxystatementfiledbyAvedrorelatingtoaspecialmeetingofAvedro'sstockholderstobeheldtovoteontheadoptionoftheMergerAgreement.

TheconsummationoftheMergerissubjectto,amongotherthings,(1)theadoptionoftheMergerAgreementbytheholdersrepresentingatleastamajorityoftheoutstandingAvedroCommonStockentitledtovote(the"AvedroStockholderApproval"),(2)theexpirationorterminationofanyapplicablewaitingperiod(orextensionsthereof)undertheHart-Scott-RodinoAntitrustImprovementsActof1976,asamended,(3)theabsenceofanytemporaryrestrainingorder,preliminaryorpermanentinjunctionorotherorderissuedbyanycourtofcompetentjurisdictionenjoiningorotherwiseprohibitingtheconsummationoftheMergeroranyapplicablelawofagovernmentalauthorityofcompetentjurisdictionprohibitingorrenderingillegaltheconsummationoftheMerger,(4)theFormS-4beingdeclaredeffectivebytheSECundertheSecuritiesActof1933,asamended,(5)theapprovalforlistingontheNewYorkStockExchangeofthesharesofGlaukosCommonStockissuableasMergerConsideration,(6)theabsenceofamaterialadverseeffectonGlaukosorAvedro,(7)thereceiptbyeachofGlaukosandAvedrofromtheirrespectivecounselsofataxopinionthattheMergerwillqualifyasa"reorganization"withinthemeaningofSection368(a)oftheInternalRevenueCode,and(8)certainothercustomaryconditions,includingrelatingtotheparties'representationsandwarrantiesintheMergerAgreementandtheperformanceoftheirrespectiveobligations.

TheMergerAgreementcontainscustomaryrepresentationsandwarrantiesmadebyeachofAvedro,GlaukosandMergerSub.TheMergerAgreementalsocontainscustomarypre-closingcovenants,includingcovenants,amongothers,(1)byAvedrotooperateitsbusinessesinallmaterialrespectsintheordinarycourseconsistentwithpastpractice,(2)byAvedrotorefrainfromtakingcertainactions,(3)byAvedro,subjecttocertainexceptions,nottosolicit,initiateorknowinglyencourageorknowinglyfacilitateanyinquiries,offersorthemakingofanyproposalfor,orannouncementof,atransactionthatisanalternativetransactiontotheMerger,(4)byAvedrotocallandholdaspecialmeetingofitsstockholdersand,subjecttocertainexceptions,requiretheboardofdirectorsofAvedro(the"AvedroBoard")torecommendtoAvedro'sstockholdersthattheyvoteinfavoroftheadoptionoftheMergerAgreement,and(5)byeachpartytousereasonablebesteffortstoobtaincertainregulatoryapprovalsandtocausetheconditionstotheMergertobesatisfied.

3

Page 4: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

TheMergerAgreementcontainscertainterminationrights,including,subjecttocertainexceptions,(1)intheeventthatthepartiesmutuallyagreetotermination,(2)foreitherGlaukosorAvedro,ifanylawororderofagovernmentalauthorityofcompetentjurisdictionprohibitingconsummationoftheMergerbecomesfinalandnon-appealable,(3)foreitherGlaukosorAvedro,iftheMergerisnotconsummatedbyMay7,2020,(4)forGlaukos,iftheAvedroBoardchangesitsrecommendationthatAvedro'sstockholdersadopttheMergerAgreement,failstoincludeitsrecommendationinitsproxystatement,orfailstopubliclyreaffirmitsrecommendationwithin10businessdaysofGlaukos'writtenrequestfollowingthepublicannouncementofanalternativetakeoverproposal(thatisnotpubliclywithdrawn),(5)forGlaukos,ifAvedrobreachesinanymaterialrespectitsnon-solicitationobligationsundertheMergerAgreement,(6)forAvedro,ifGlaukosorMergerSubisinbreachofitsrepresentationsandwarrantiesorcovenantsoragreementsundertheMergerAgreementsuchthattherelevantclosingconditionisnot,orwouldnotbe,satisfiedasoftheclosingdateoftheMerger,(7)forGlaukos,ifAvedroisinbreachofitsrepresentationsandwarrantiesorcovenantsoragreementsundertheMergerAgreementsuchthattherelevantclosingconditionisnot,orwouldnotbe,satisfiedasoftheclosingdateoftheMerger,(8)foreitherGlaukosorAvedro,iftheAvedroStockholderApprovalisnotobtained,and(9)forAvedro,inordertoenterintoanagreementprovidingforasuperioralternativetransaction.TheMergerAgreementprovidesthat,inconnectionwiththeterminationoftheMergerAgreementunderspecifiedcircumstances,AvedromayberequiredtopaytoGlaukosaterminationfeeequaltoapproximately$22.5millionincash.

TheforegoingdescriptionoftheMergerAgreementdoesnotpurporttobecompleteandisqualifiedinitsentiretybyreferencetothefulltextoftheMergerAgreement,whichisfiledasExhibit2.1tothisCurrentReportonForm8-Kandisincorporatedhereinbyreference.

TheMergerAgreementhasbeenattachedasanexhibittoprovidestockholderswithinformationregardingitsterms.ItisnotintendedtoprovideanyotherfactualinformationaboutGlaukosorAvedro.Therepresentations,warrantiesandcovenantscontainedintheMergerAgreementweremadeonlyforthepurposesofsuchagreementandasofspecifieddates,weresolelyforthebenefitofthepartiestosuchagreement,andmaybesubjecttolimitationsagreeduponbythecontractingparties.Therepresentationsandwarrantiesmayhavebeenmadeforthepurposesofallocatingcontractualriskbetweenthepartiestotheagreementinsteadofestablishingthesemattersasfacts,andmaybesubjecttostandardsofmaterialityapplicabletothecontractingpartiesthatdifferfromthoseapplicabletoinvestors.Inaddition,theassertionsembodiedintherepresentationsandwarrantiescontainedintheMergerAgreementarequalifiedbyinformationinaconfidentialdisclosureschedulethatthepartieshaveexchanged.Accordingly,therepresentationsandwarrantiesintheMergerAgreementarenotnecessarilycharacterizationsoftheactualstateoffactsaboutGlaukosorAvedroatthetimetheyweremadeorotherwiseandshouldonlybereadinconjunctionwiththeotherinformationthatGlaukosorAvedromakespubliclyavailableinreports,statementsandotherdocumentsfiledwiththeSEC.

Voting Agreement

InconnectionwiththeMergerAgreement,certainstockholdersofAvedro(includingcertainmembersofAvedro'smanagementandallmembersoftheAvedroBoard)whoarebeneficialownersofapproximately41%oftheoutstandingsharesofAvedroCommonStock(the"VotingAgreementStockholders")enteredintoseparatevotingagreements(each,a"VotingAgreement")withGlaukoswherebyeachVotingAgreementStockholderagreed,amongotherthings,tovotethesharesofAvedroCommonStockownedand/orcontrolledbysuchstockholderinfavorofadoptionoftheMergerAgreementandapprovaloftheconsummationoftheMerger,aswellassuchothermatterssetforthintheVotingAgreement.UndereachVotingAgreement,theapplicableVotingAgreementStockholderhasgrantedtoGlaukos(anditsdesignee)anirrevocableproxytovoteitssharesofAvedroCommonStockasprovidedintheprecedingsentence.EachVotingAgreementalsocontainsrestrictionsontransferthat,subjecttolimitedexceptions,preventeachVotingAgreementStockholderfrom

4

Page 5: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

transferringtheirsharesofAvedroCommonStock.EachVotingAgreementterminatesupontheearliesttooccurof(1)theEffectiveTime,(2)thedatetheAvedroBoardchangesitsrecommendationthattheAvedro'sstockholdersadopttheMergerAgreementinresponsetoasuperioralternativeproposalinaccordancewiththetermsoftheMergerAgreement,(3)theterminationoftheMergerAgreementinaccordancewithitsterms,and(4)uponmutualwrittenagreementoftheparties.

TheforegoingdescriptionoftheVotingAgreementsdoesnotpurporttobecompleteandisqualifiedinitsentiretybyreferencetotheformofVotingAgreement,whichisfiledasExhibit10.1tothisCurrentReportonForm8-Kandisincorporatedhereinbyreference.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of CertainOfficers.

OnAugust6,2019,GilbertH.Kliman,M.D.,amemberoftheGlaukosBoard,resignedasadirectorofGlaukos.HisresignationwasnottheresultofanydisagreementwithGlaukosonanymatterrelatedtoGlaukos'operations,policiesorpractices.Rather,Mr.Klimanresignedinordertoavoidanyappearanceofaconflictofinterestashewasalso,priortohisresignation,amemberoftheAvedroBoard.Mr.KlimanalsoresignedfromtheAvedroBoardonAugust6,2019.Accordingly,Mr.KlimandidnotparticipateintheapprovaloftheMergerAgreementbyeithertheGlaukosBoardortheAvedroBoard.

Item 8.01. Other Events.

OnAugust7,2019,GlaukosandAvedroissuedajointpressreleaseannouncingtheentryintotheMergerAgreement.AcopyofthepressreleaseisattachedasExhibit99.1tothisCurrentReportonForm8-Kandisincorporatedhereinbyreference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Additional Information and Where to Find It

InconnectionwiththeproposedtransactionbetweenGlaukosandAvedro,GlaukoswillfilewiththeSECaregistrationstatementonFormS-4thatwillincludeadocumentconstitutingaprospectusofGlaukosandwillalsocontainaproxystatementofAvedro.GlaukosandAvedroalsoplantofileotherrelevantdocumentswiththeSECregardingtheproposedtransactions.AftertheregistrationstatementonFormS-4isdeclaredeffectivebytheSEC,adefinitiveproxystatement/prospectuswillbemailedtothestockholdersofAvedro.INVESTORSANDSECURITYHOLDERSAREURGEDTOREADTHEPROXYSTATEMENT/PROSPECTUSANDOTHERRELEVANTDOCUMENTSFILEDWITHTHESECCAREFULLYANDINTHEIRENTIRETYWHENTHEYBECOMEAVAILABLEBECAUSETHEYWILLCONTAINIMPORTANTINFORMATION.InvestorsandsecurityholderswillbeabletoobtainfreecopiesoftheregistrationstatementonFormS-4andtheproxystatement/prospectus(whenavailable)andotherrelevantdocumentsfiledorthatwillbefiledbyGlaukosorAvedrowiththeSECthroughthewebsitemaintainedbytheSECathttp://www.sec.gov.CopiesofthedocumentsfiledwiththeSECbyGlaukoswillbeavailablefreeofchargewithinthe

5

Exhibit Number Description 2.1 AgreementandPlanofMerger,datedasofAugust7,2019,amongGlaukosCorporation,AtlanticMergerSubInc.,and

Avedro,Inc.

10.1 FormofVotingAgreement

99.1 PressReleaseissuedAugust7,2019

Page 6: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

InvestorRelationssectionofGlaukos'internetwebsiteathttp://investors.glaukos.comorbycontactingGlaukosInvestorRelationsbyemailatinvestors@glaukos.comorbyphoneat949-481-0510.CopiesofthedocumentsfiledwiththeSECbyAvedrowillbeavailablefreeofchargewithintheInvestorRelationssectionofAvedro'sinternetwebsiteathttps://investors.avedro.comorbycontactingAvedroInvestorRelationsbyemailatinvestors@avedro.comorbyphoneat646-924-1769.

No Offer or Solicitation

Thiscommunicationdoesnotconstituteanoffertosellorthesolicitationofanoffertobuyanysecuritiesnorasolicitationofanyvoteorapprovalwithrespecttotheproposedtransactionorotherwise.NoofferingofsecuritiesshallbemadeexceptbymeansofaprospectusmeetingtherequirementsofSection10oftheSecuritiesActof1933,asamended,andotherwiseinaccordancewithapplicablelaw.

Participants in Solicitation

EachofAvedroandGlaukosandtheirrespectivedirectorsandexecutiveofficersmaybedeemedtobeparticipantsinthesolicitationofproxiesfromAvedrostockholdersinconnectionwiththeproposedtransaction.InformationaboutAvedro'sdirectorsandexecutiveofficersisincludedinAvedro'sAnnualReportonForm10-KfortheyearendedDecember31,2018,whichwasfiledwiththeSEConMarch21,2019,andisalsoincludedinAvedro'sFormS-1RegistrationStatementfiledwiththeSEConJanuary18,2019,asamendedbyAmendmentNo.1toAvedro'sFormS-1RegistrationStatementfiledwiththeSEConFebruary4,2019.InformationaboutGlaukos'directorsandexecutiveofficersisincludedinthedefinitiveproxystatementforits2019annualmeetingofstockholders,whichwasfiledwiththeSEConApril17,2019.Otherinformationregardingtheparticipantsinthesolicitationofproxiesinconnectionwiththeproposedtransactionandadescriptionoftheirdirectandindirectinterests,bysecurityholdingsorotherwise,willbecontainedintheproxystatement/prospectusandotherrelevantmaterialstobefiledwiththeSECregardingtheproposedtransactionwhentheybecomeavailable.InvestorsmayobtainfreecopiesofthesedocumentsfromAvedroorGlaukosasindicatedabove.

Use of Forward-Looking Statements

Thiscommunicationcontains"forward-lookingstatements"withinthemeaningoffederalsecuritieslaws.Forward-lookingstatementsmaycontainwordssuchas"believes","anticipates","estimates","expects","intends","aims","potential","will","would","could","considered","likely"andwordsandtermsofsimilarsubstanceusedinconnectionwithanydiscussionoffutureplans,actionsoreventsidentifyforward-lookingstatements.Allstatements,otherthanhistoricalfacts,includingstatementsregardingtheexpectedtimingoftheclosingoftheproposedtransactionandtheexpectedbenefitsoftheproposedtransaction,areforward-lookingstatements.Thesestatementsarebasedonmanagement'scurrentexpectations,assumptions,estimatesandbeliefs.WhileAvedroandGlaukosbelievetheseexpectations,assumptions,estimatesandbeliefsarereasonable,suchforward-lookingstatementsareonlypredictions,andaresubjecttoanumberofrisksanduncertaintiesthatcouldcauseactualresultstodiffermateriallyfromthosedescribedintheforward-lookingstatements.

Thefollowingfactors,amongothers,couldcauseactualresultstodiffermateriallyfromthosedescribedintheforward-lookingstatements:(i)failureofAvedrotoobtainstockholderapprovalasrequiredfortheproposedtransaction;(ii)failuretoobtaingovernmentalandregulatoryapprovalsrequiredfortheclosingoftheproposedtransaction;(iii)failuretosatisfytheconditionstotheclosingoftheproposedtransaction;(iv)unexpectedcosts,liabilitiesordelaysinconnectionwithorwithrespecttotheproposedtransaction;(v)theeffectoftheannouncementoftheproposedtransactionontheabilityofAvedroorGlaukostoretainandhirekeypersonnelandmaintainbusinessrelationshipswithcustomers,suppliersandotherswithwhomAvedroorGlaukosdoesbusiness,oronAvedro'sor

6

Page 7: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Glaukos'operatingresults,marketpriceofcommonstock,andbusinessgenerally;(vi)potentiallegalproceedingsrelatingtotheproposedtransactionandtheoutcomeofanysuchlegalproceeding;(vii)theinherentrisks,costsanduncertaintiesassociatedwithintegratingthebusinessessuccessfullyandrisksofnotachievingalloranyoftheanticipatedbenefitsoftheproposedtransaction,ortheriskthattheanticipatedbenefitsoftheproposedtransactionmaynotbefullyrealizedortakelongertorealizethanexpected;(viii)competitivepressuresinthemarketsinwhichAvedroandGlaukosoperate;(ix)theoccurrenceofanyevent,changeorothercircumstancesthatcouldgiverisetotheterminationofthemergeragreement;and(x)otherriskstotheconsummationoftheproposedtransaction,includingtheriskthattheproposedtransactionwillnotbeconsummatedwithintheexpectedtimeperiodoratall.AdditionalfactorsthatmayaffectthefutureresultsofAvedroandGlaukosaresetforthintheirrespectivefilingswiththeSEC,includingeachofAvedro'sandGlaukos'mostrecentlyfiledAnnualReportonForm10-K,subsequentQuarterlyReportsonForm10-Q,CurrentReportsonForm8-KandotherfilingswiththeSEC,whichareavailableontheSEC'swebsiteatwww.sec.gov.TherisksanduncertaintiesdescribedaboveandinAvedro'smostrecentQuarterlyReportonForm10-QandGlaukos'mostrecentQuarterlyReportonForm10-QarenotexclusiveandfurtherinformationconcerningAvedroandGlaukosandtheirrespectivebusinesses,includingfactorsthatpotentiallycouldmateriallyaffecttheirrespectivebusinesses,financialconditionoroperatingresults,mayemergefromtimetotime.Readersareurgedtoconsiderthesefactorscarefullyinevaluatingtheseforward-lookingstatements,andnottoplaceunduerelianceonanyforward-lookingstatements.ReadersshouldalsocarefullyreviewtheriskfactorsdescribedinotherdocumentsthatAvedroandGlaukosfilefromtimetotimewiththeSEC.Theforward-lookingstatementsinthesematerialsspeakonlyasofthedateofthesematerials.Exceptasrequiredbylaw,AvedroandGlaukosassumenoobligationtoupdateorrevisetheseforward-lookingstatementsforanyreason,evenifnewinformationbecomesavailableinthefuture.

7

Page 8: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

SIGNATURES

PursuanttotherequirementsoftheSecuritiesExchangeActof1934,asamended,theRegistranthasdulycausedthisreporttobesignedonitsbehalfbytheundersigned,thereuntodulyauthorized.

8

Date:August7,2019

GLAUKOS CORPORATION

By: /s/JosephE.Gilliam

JosephE.GilliamChief Financial Officer and Senior Vice President, Corporate Development

Page 9: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

QuickLinks

Item1.01EntryintoaMaterialDefinitiveAgreement.Item5.02.DepartureofDirectorsorCertainOfficers;ElectionofDirectors;AppointmentofCertainOfficers;CompensatoryArrangementsofCertainOfficers.Item8.01.OtherEvents.Item9.01.FinancialStatementsandExhibits.

SIGNATURES

Page 10: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Exhibit 2.1

Execution Version

AGREEMENT AND PLAN OF MERGER

byandamong

GLAUKOS CORPORATION,

ATLANTIC MERGER SUB, INC.

and

AVEDRO, INC.

DatedasofAugust7,2019

i

Page 11: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

TABLE OF CONTENTS

ii

ARTICLEITHEMERGER 1

Section1.01

TheMerger

1

Section1.02

Closing

2

Section1.03

EffectiveTimeoftheMerger

2

Section1.04

EffectsoftheMerger

2

Section1.05

CertificateofIncorporationandBy-lawsoftheSurvivingCorporation

2

Section1.06

DirectorsandOfficersoftheSurvivingCorporation

2

ARTICLEIICONVERSIONOFSHARES;EXCHANGEOFSHARES 2

Section2.01

EffectonCapitalStock

2

Section2.02

PaymentforSecurities;SurrenderofCertificates

3

Section2.03

TreatmentofCompanyEquityAwards

6

Section2.04

CompanyEquityAwardsAssumedbyParent;ParentActions

7

Section2.05

CompanyWarrants

8

Section2.06

TaxTreatment

8

ARTICLEIIIREPRESENTATIONSANDWARRANTIES 8

Section3.01

RepresentationsandWarrantiesoftheCompany

8

Section3.02

RepresentationsandWarrantiesofParentandMergerSub

31

ARTICLEIVCOVENANTS 39

Section4.01

CovenantsoftheCompany

39

Section4.02

ParentDividends

43

Section4.03

OtherActions

43

Section4.04

CompanyNon-Solicitation

43

ARTICLEVADDITIONALAGREEMENTS 47

Section5.01

SpecialMeeting;PreparationoftheProxy/S-4

47

Section5.02

AccesstoInformation;Confidentiality;EffectofReview

49

Section5.03

RegulatoryMatters;ReasonableBestEfforts

50

Section5.04

Indemnification,ExculpationandInsurance

51

Section5.05

FeesandExpenses

52

Section5.06

PublicAnnouncements

53

Section5.07

StockholderLitigation

53

Section5.08

Section16Matters

53

Section5.09

StockExchangeListing;Delisting

53

Page 12: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

iii

Section5.10 Resignations 53

Section5.11

EmployeeMatters

53

Section5.12

NotificationofCertainMatters

54

Section5.13

CompanyDebt

55

Section5.14

CertainTaxMatters

55

ARTICLEVICONDITIONSPRECEDENT 56

Section6.01

ConditionstoEachParty'sObligationtoEffecttheMerger

56

Section6.02

ConditionstoObligationsoftheCompany

56

Section6.03

ConditionstoObligationsofParentandMergerSub

57

ARTICLEVIITERMINATION,AMENDMENTANDWAIVER 58

Section7.01

Termination

58

Section7.02

EffectofTermination

59

Section7.03

CompanyTerminationFee;Expenses

59

Section7.04

TerminationFees

60

ARTICLEVIIIGENERALPROVISIONS 61

Section8.01

Non-survivalofRepresentations,Warranties,CovenantsandAgreements

61

Section8.02

Notices

61

Section8.03

Definitions

62

Section8.04

InterpretationandOtherMatters

67

Section8.05

Counterparts

67

Section8.06

EntireAgreement;NoThird-PartyBeneficiaries;SuitsforDamages

67

Section8.07

Amendment

67

Section8.08

Extension;Waiver

67

Section8.09

GoverningLaw;Jurisdiction

68

Section8.10

Assignment

68

Section8.11

SpecificPerformance

68

Section8.12

Severability

68

Section8.13

WaiverofJuryTrial

69

Page 13: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

INDEX OF DEFINED TERMS

iv

Defined Term Location of Defined Term401(k)TerminationDate Section5.11(a)Agreement PreambleAKS Section3.01(bb)(viii)Anti-CorruptionLaws Section3.01(z)(i)AssumedStockOption Section2.03(a)(i)AssumedWarrant Section2.05(a)Book-EntryShare Section2.01(b)CancelledShare Section2.01(a)CancelledShares Section2.01(a)Certificate Section2.01(b)CertificateofMerger Section1.03Closing Section1.02ClosingDate Section1.02Code RecitalsCompany PreambleCompanyBoard RecitalsCompanyChangeofRecommendation Section4.03(d)CompanyCommonStock Section3.01(b)(i)CompanyDisclosureLetter Section3.01CompanyEmployeeBenefitPlan Section3.01(l)(ii)(B)CompanyESPPRights Section2.03(c)CompanyExpenseReimbursement Section7.03(d)CompanyFinancialAdvisor Section3.01(t)CompanyFinancialStatements Section3.01(e)(iii)CompanyIndemnifiedParties Section5.04(c)CompanyIntellectualProperty Section3.01(o)(ii)CompanyMaterialContract Section3.01(w)(i)CompanySECReports Section3.01(e)(i)CompanySpecialMeeting Section3.01(d)(ii)CompanyStockholderApproval Section3.01(r)CompanySuperiorProposal Section4.03(g)(i)CompanySystems Section3.01(p)(i)CompanyTakeoverProposal Section4.03(b)CompanyTerminationFee Section7.03(a)CompanyVotingDebt Section3.01(b)(iii)Company'sCounsel Section5.14(b)ConfidentialityAgreement Section4.03(b)Consents Section3.01(d)(ii)ControlledGroup Section3.01(l)(ii)(D)ControlledGroupLiability Section3.01(l)(ii)(A)CreditAgreement Section5.13DGCL RecitalsDOJ Section5.03(b)EffectiveTime Section1.03EnvironmentalLaws Section3.01(n)(iii)(A)ERISA Section3.01(l)(i)ExchangeAct Section3.01(d)(ii)ExchangeAgent Section2.02(a)

Page 14: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

v

Defined Term Location of Defined TermExchangeFund Section2.02(a)ExchangeRatio Section2.01(b)FairnessOpinion Section3.01(t)FDA Section3.01(aa)(i)FederalHealthCareProgram Section3.01(bb)(ii)FederalHealthCareProgramLaws Section3.01(bb)(iii)FederalPrivacyandSecurityRegulations Section3.01(bb)(v)FinalExerciseDate Section2.03(c)FractionalShareConsideration Section2.02(b)(v)FTC Section5.03(b)GAAP Section3.01(e)(iii)GovernmentalAuthority Section3.01(d)(i)HazardousMaterials Section3.01(n)(iii)(B)HIPAA Section3.01(bb)(iii)HSRAct Section3.01(d)(ii)IntellectualProperty Section3.01(o)(iv)IntellectualPropertyLicenses Section3.01(o)(vi)InterveningEvent Section4.03(g)(ii)InterveningEventRecommendationChangeNotice Section4.03(f)laws Section3.01(d)(i)LetterofTransmittal Section2.02(b)(i)Merger RecitalsMergerConsideration Section2.01(b)MergerSub PreambleNasdaq Section3.01(d)(ii)NYSE Section3.01(d)(ii)Orbimed Section5.13orders Section3.01(d)(i)Parent PreambleParentBoard RecitalsParentCommonStock Section2.01(b)ParentDisclosureLetter Section3.02ParentFinancialStatements Section3.02(e)(iii)ParentIntellectualProperty Section3.02(o)(i)ParentSECReports Section3.02(e)(i)ParentSubsidiaries Section3.02(a)ParentVotingDebt Section3.02(b)(iii)Parent'sCounsel Section5.14(b)PayoffAmount Section5.13PayoffLetter Section5.13Permits Section3.01(j)(i)Plan Section3.01(l)(ii)(C)Proceedings Section3.01(h)ProposalInformation Section4.03(a)Proxy/S-4 Section3.01(d)(ii)ProxyStatement Section3.01(d)(ii)RecommendationChangeNotice Section4.03(e)RecommendationChangeNoticePeriod Section4.03(e)Release Section3.01(n)(iii)(C)ScheduledIP Section3.01(o)(i)

Page 15: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

CertainothertermsaredefinedinSection8.03.

vi

Defined Term Location of Defined TermSEC Section3.01(d)(ii)SecuritiesAct Section3.01(e)(i)Share Section2.01(a)Shares Section2.01(a)SOX Section3.01(e)(i)SurvivingCorporation Section1.01Systems Section3.01(p)(i)TakeoverProvisions Section5.03(f)TaxRepresentationLetters Section5.14(b)TaxReturn Section3.01(k)(xii)Taxes Section3.01(k)(xii)TerminationDate Section7.01(c)TransactionLitigation Section5.07VotingAgreements RecitalsWarrantConsideration Section2.05(c)WarrantFractionalShareConsideration Section2.05(c)

Page 16: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

AGREEMENT AND PLAN OF MERGER

ThisAGREEMENTANDPLANOFMERGER,datedasofAugust7,2019(this"Agreement "),byandamongGlaukosCorporation,aDelawarecorporation("Parent "),AtlanticMergerSub,Inc.,aDelawarecorporationandawholly-ownedsubsidiaryofParent("Merger Sub "),andAvedro,Inc.,aDelawarecorporation(the"Company ").

WITNESSETH:

WHEREAS,Parent,MergerSubandtheCompanydesiretoeffectabusinesscombinationtransactiononthetermsandsubjecttotheconditionssetforthinthisAgreement;

WHEREAS,thepartiesintendthatMergerSubwill,inaccordancewiththeGeneralCorporationLawoftheStateofDelaware(the"DGCL "),mergewithandintotheCompany,withtheCompanycontinuingasthesurvivingcorporation(the"Merger ")onthetermsandsubjecttotheconditionssetforthinthisAgreement;

WHEREAS,theBoardofDirectorsoftheCompany(the"Company Board ")has(i)determinedthatthetransactionscontemplatedbythisAgreement,includingtheMerger,arefairtoandinthebestinterestsoftheCompanyanditsstockholders,(ii)adopted,approvedanddeclaredadvisablethisAgreementandthetransactionscontemplatedhereby,includingtheMerger,and(iii)resolvedtorecommendtheadoptionofthisAgreementbythestockholdersoftheCompany;

WHEREAS,theBoardofDirectorsofParent(the"Parent Board ")has(i)determinedthatthetermsofthisAgreement,theMergerandtheothertransactionscontemplatedbythisAgreementarefairtoandinthebestinterestsofParentanditsstockholders,and(ii)adopted,approvedanddeclaredadvisablethisAgreementandthetransactionscontemplatedhereby,includingtheMerger;

WHEREAS,thepartiesintendthat,forU.S.federalincometaxpurposes,theMergerwillqualifyasa"reorganization"withinthemeaningofSection368(a)oftheInternalRevenueCodeof1986,asamended(the"Code "),andthatthisAgreementbe,andisherebyadoptedas,a"planofreorganization"withinthemeaningofTreasuryRegulationsSection1.368-2(g)andforpurposesofSections354and361oftheCode;

WHEREAS,immediatelyfollowingtheexecutionofthisAgreement,Parent,asthesolestockholderofMergerSub,shalladoptthisAgreement;

WHEREAS,concurrentlywiththeexecutionanddeliveryofthisAgreement,asaconditionandinducementtothewillingnessofParentandMergerSubtoenterintothisAgreement,eachofthedirectors,thechiefexecutiveofficerandthechieffinancialofficerandcertainotherstockholdersoftheCompanyhaveenteredintoaVotingAgreementwithParent(collectively,the"Voting Agreements "),pursuanttowhichsuchCompanystockholdershaveagreed,amongotherthings,tovoteinfavoroftheadoptionofthisAgreementattheCompanySpecialMeeting;and

WHEREAS,Parent,MergerSubandtheCompanydesiretomakecertainrepresentations,warranties,covenantsandagreementsinconnectionwiththeMergerandthetransactionscontemplatedbythisAgreementandalsotoprescribevariousconditionstotheMerger.

NOW,THEREFORE,inconsiderationoftheforegoingandoftherepresentations,warranties,covenantsandagreementscontainedinthisAgreement,thepartiesagreeasfollows:

ARTICLE I THE MERGER

Section1.01 The Merger. UponthetermsandsubjecttotheconditionssetforthinthisAgreement,andinaccordancewiththeDGCL,attheEffectiveTime,MergerSubshallbemerged

1

Page 17: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

withandintotheCompany.AttheEffectiveTime,theseparatecorporateexistenceofMergerSubshallcease,andtheCompanyshallbethesurvivingcorporationintheMerger(the"Surviving Corporation ")andshallcontinueitscorporateexistenceunderthelawsoftheStateofDelawareandshallsucceedtoandassumealloftherightsandobligationsoftheCompanyandMergerSubinaccordancewiththeDGCL.

Section1.02 Closing. UnlessthisAgreementshallhavebeenterminatedpursuanttoSection 7.01 ,thepartiesshallcausetheclosingoftheMerger(the"Closing ")totakeplaceattheofficesofO'Melveny&MyersLLP,610NewportCenterDrive,17thFloor,NewportBeach,California92660,at8:00a.m.,Pacifictime,nolaterthanthesecond(2nd)BusinessDayafterthesatisfactionorwaiveroftheconditionssetforthinArticle VI (otherthanthoseconditionsthatbytheirtermsaretobesatisfiedattheClosing,butsubjecttothesatisfactionorwaiver(totheextentpermittedbyapplicablelaw)ofsuchconditionsatsuchtime).ThedateonwhichtheClosingoccursisreferredtointhisAgreementasthe"Closing Date ".

Section1.03 Effective Time of the Merger. SubjecttotheprovisionsofthisAgreement,ontheClosingDate,theCompanyshallcauseacertificateofmerger(the"Certificate of Merger ")tobeexecuted,acknowledgedandfiledwiththeSecretaryofStateoftheStateofDelawareasprovidedinSection251oftheDGCL.TheMergershallbecomeeffectiveuponthefilingoftheCertificateofMergeroratsuchlatertimeasisagreedtobythepartiesheretoandspecifiedintheCertificateofMerger(thetimeatwhichtheMergerbecomeseffectiveishereinreferredtoasthe"Effective Time ").

Section1.04 Effects of the Merger. TheMergershallhavetheeffectssetforthinthisAgreementandtheapplicableprovisionsoftheDGCL.

Section1.05 Certificate of Incorporation and By-laws of the Surviving Corporation. AttheEffectiveTime,(a)thecertificateofincorporationoftheCompany,asineffectimmediatelypriortotheEffectiveTime,shallbeamendedandrestatedtobeintheformattachedheretoasExhibit A and,assoamendedandrestated,shallbethecertificateofincorporationofSurvivingCorporationuntilthereafteramendedasprovidedthereinandbyapplicablelaw;and(b)thebylawsoftheCompanyasineffectimmediatelypriortotheEffectiveTime,shallbeamendedandrestatedtobeintheformattachedheretoasExhibit B and,assoamendedandrestated,shallbethebylawsofSurvivingCorporationuntilthereafteramendedasprovidedthereinandbyapplicablelaw.

Section1.06 Directors and Officers of the Surviving Corporation .

(a)Thepartiesshalltake,orcausetobetaken,allactionsnecessarysothatthedirectorsofMergerSubimmediatelypriortotheEffectiveTimeshall,fromandaftertheEffectiveTime,bethedirectorsoftheSurvivingCorporationuntiltheirsuccessorshavebeendulyelectedorappointedandqualified,ortheirearlierdeath,resignationorremoval.

(b)Thepartiesshalltake,orcausetobetaken,allactionsnecessarysothattheofficersofMergerSubimmediatelypriortotheEffectiveTimeshall,fromandaftertheEffectiveTime,betheofficersoftheSurvivingCorporationuntiltheirsuccessorshavebeendulyappointed,ortheirearlierdeath,resignationorremoval.

ARTICLE II CONVERSION OF SHARES; EXCHANGE OF SHARES

Section2.01 Effect on Capital Stock. AttheEffectiveTime,byvirtueoftheMergerandwithoutanyactiononthepartofParent,MergerSub,theCompanyorholdersofanysharesofCompanyCommonStockoranycapitalstockofMergerSub:

(a) Cancellation of Certain Company Common Stock. EachshareofCompanyCommonStock(a"Share "andcollectively,the"Shares ")thatisownedbyParent,MergerSuboranyotherdirector

2

Page 18: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

indirectwholly-ownedsubsidiaryofParentandeachShareownedbytheCompanyoranydirectorindirectwholly-ownedsubsidiaryoftheCompany(andineachcasenotheldonbehalfofthirdparties)(eachsuchSharebeinga"Cancelled Share "andcollectively,"Cancelled Shares ")shallautomaticallybecancelledandshallceasetoexist,andnoconsiderationshallbedeliveredinexchangetherefor.

(b) Conversion of Company Common Stock. EachShare(otherthanCancelledShares)issuedandoutstandingimmediatelypriortotheEffectiveTimeshallbeconvertedintoandshallthereafterrepresenttherighttoreceive,subjecttoSections 2.02(b)(v) and2.02(h) ,0.365(the"Exchange Ratio ")ofashareofcommonstock,parvalue$0.001,ofParent(the"Parent Common Stock ")(the"Merger Consideration "which,foravoidanceofdoubtshallincludetheFractionalShareConsideration(asdefinedinSection 2.02(b)(v) )).FromandaftertheEffectiveTime,subjecttoSection 2.02(h) ,allofsuchShares(otherthanCancelledShares)shallnolongerbeoutstandingandshallautomaticallybecancelledandshallceasetoexist,andeachcertificate(a"Certificate ")representinganyShares(otherthanCancelledShares),ifany,andeachnon-certificatedSharerepresentedbybook-entry(a"Book-Entry Share ")(otherthanCancelledShares)shallthereafterrepresentonlytherighttoreceivetheMergerConsideration.

(c) Conversion of Merger Sub Common Stock. Eachshareofcommonstock,parvalue$0.001pershare,ofMergerSubissuedandoutstandingimmediatelypriortotheEffectiveTimeshallbeconvertedintoandbecomeonevalidlyissued,fullypaidandnon-assessableshareofcommonstock,parvalue$0.001pershare,oftheSurvivingCorporationandshallconstitutetheonlyoutstandingsharesofcapitalstockoftheSurvivingCorporation.

Section2.02 Payment for Securities; Surrender of Certificates .

(a) Exchange Agent. PriortotheClosing,ParentshallselectandengageanexchangeagentreasonablyacceptabletotheCompany(the"Exchange Agent").AtorimmediatelyfollowingtheEffectiveTime,Parentshalldeposit,orshallcausetobedeposited,withsuchExchangeAgent,forthebenefitoftheholdersofShares,certificatesrepresentingthesharesofParentCommonStocktobeissuedasMergerConsideration(which,forpurposesofthisSection 2.02(a) ,shallnotincludetheFractionalShareConsideration)(orappropriatealternativearrangementsshallbemadebyParentifuncertificatedsharesofParentCommonStockwillbeissued)andcashinanamountequaltotheaggregateFractionalShareConsideration(the"Exchange Fund ").

(b) Procedures for Surrender .

(i) Certificates. PromptlyaftertheEffectiveTime,ParentshallcausetheExchangeAgenttomailtoeachholderofrecord(asofimmediatelypriortotheEffectiveTime)ofaCertificatewhoseShareswereconvertedintotherighttoreceivetheMergerConsiderationattheEffectiveTimepursuanttothisAgreement:(A)aletteroftransmittalincustomaryform,reasonablyacceptabletoParentandtheCompany("Letter of Transmittal "),whichshallspecifythatdeliveryshallbeeffected,andriskoflossandtitletotheCertificatesshallpass,onlyupondeliveryoftheCertificatestotheExchangeAgent,andshallotherwisebeinsuchformandhavesuchotherprovisionsasParentmayreasonablyspecifyafterconsultationwiththeCompany;and(B)instructionsforeffectingthesurrenderoftheCertificatesinexchangefortheMergerConsiderationpayableinrespectthereofpursuanttotheprovisionsofthisArticle II (oraffidavitoflossinlieuoftheCertificatesasprovidedinSection 2.02(g) ).UponsurrenderofCertificatesforcancellation(oraffidavitoflossinlieuoftheCertificatesasprovidedinSection 2.02(g) )totheExchangeAgentortosuchotheragentoragentsasmaybeappointedbyParent,andupondeliveryofaLetterofTransmittal,dulyexecutedandinproperformwithrespecttosuchCertificates,andsuchotherdocumentsasmayreasonablyberequiredbytheExchangeAgent,theholderofsuchCertificatesshallbeentitledtoreceiveinexchangetherefor(aftergivingeffecttoanyrequiredTaxwithholdingsasprovidedinSection 2.02(f) )theMergerConsiderationintowhichsuchsharesofCompanyCommonStockhavebeenconvertedpursuanttoSection 2.01 .Any

3

Page 19: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

surrenderedCertificateshallforthwithbecancelled.NointerestwillbepaidoraccruedonanyamountpayableuponduesurrenderoftheCertificates.Untilsurrenderedascontemplatedhereby,eachCertificateshallbedeemedatanytimeaftertheEffectiveTimetorepresentonlytherighttoreceivetheMergerConsiderationandtheFractionalShareConsideration,asapplicable,ascontemplatedbythisAgreement.

(ii) Book-Entry Shares. AnyholderofBook-EntryShareswhoseShareswereconvertedintotherighttoreceivetheMergerConsiderationattheEffectiveTimepursuanttothisAgreementshallnotberequiredtodeliveraCertificateoranexecutedLetterofTransmittaltotheExchangeAgenttoreceivetheMergerConsiderationthatsuchholderisentitledtoreceivepursuanttothisAgreement.Inlieuthereof,eachsuchholdershall,uponreceiptbytheExchangeAgentofan"agent'smessage"(orsuchotherevidence,ifany,ofsurrenderastheExchangeAgentmayreasonablyrequest)beentitledtoreceiveinexchangetherefor(aftergivingeffecttoanyrequiredTaxwithholdingsasprovidedinSection 2.02(f) )theMergerConsiderationintowhichsuchsharesofCompanyCommonStockhavebeenconvertedpursuanttoSection 2.01(b) .PaymentoftheMergerConsiderationwithrespecttoBook-EntrySharesshallonlybemadetothepersoninwhosenamesuchBook-EntrySharesareregistered.NointerestwillbepaidoraccruedonanyamountpayableuponduesurrenderofBook-EntryShares.Untilpaidorsurrenderedascontemplatedhereby,eachBook-EntryShareshallbedeemedatanytimeaftertheEffectiveTimetorepresentonlytherighttoreceivetheMergerConsiderationandtheFractionalShareConsideration,asapplicable,ascontemplatedbythisAgreement.

(iii) Transfer of Shares. IfpaymentoftheMergerConsiderationistobemadetoapersonotherthanthepersoninwhosenameanysurrenderedCertificateisregistered,itshallbeaconditionprecedentofpaymentthattheCertificatesosurrenderedshallbeproperlyendorsedorshallbeotherwiseinproperformfortransfer,andthepersonrequestingsuchpaymentshallhavepaidanytransferandothersimilarTaxesrequiredbyreasonofthepaymentoftheMergerConsiderationandtheFractionalShareConsideration,asapplicable,toapersonotherthantheregisteredholderoftheCertificatesosurrenderedandshallhaveestablishedtothesatisfactionoftheSurvivingCorporationthatsuchTaxeseitherhavebeenpaidorarenotrequiredtobepaid.

(iv) Distributions with Respect to Unexchanged Shares of Parent Common Stock. NodividendsorotherdistributionsdeclaredormadeaftertheEffectiveTimewithrespecttosharesofParentCommonStockwitharecorddateaftertheEffectiveTimewillbepaidtotheholderofanyunsurrenderedCertificateorBook-EntrySharewithrespecttothesharesofParentCommonStocktobereceivedinrespectthereof,untiltheholderofsuchCertificateorBook-EntrySharesurrenderssuchCertificateorBook-EntryShare.Subjecttotheeffectofescheat,Taxorotherapplicablelaws,followingsurrenderofanysuchCertificateorBook-EntryShare,theholderoftheCertificateorBook-EntrySharereceivingwholesharesofParentCommonStockissuedinexchangethereforwillbepaid,withoutinterest,(i)promptly,theamountofdividendsorotherdistributionswitharecorddateaftertheEffectiveTimeandtheretoforepaidwithrespecttosuchwholesharesofParentCommonStockand(ii)attheappropriatepaymentdate,theamountofdividendsorotherdistributions,witharecorddateaftertheEffectiveTimebutpriortosurrenderandapaymentdateoccurringaftersurrender,payablewithrespecttosuchwholesharesofParentCommonStock.

(v) No Fractional Shares. NocertificateorscriporsharesrepresentingfractionalParentCommonStock(whethercertificatedorbook-entryshares)shallbeissueduponthesurrenderforexchangeofCertificatesorBook-EntryShares,andsuchfractionalshareinterestsshallnotentitletheownerthereoftovoteortoanyotherrightsofastockholderofParent.EachholderofCompanyCommonStockconvertedpursuanttotheMergerwhowouldotherwisehavebeenentitledtoreceiveafractionofashareofParentCommonStock(afteraggregatingallsharesrepresentedbytheCertificatesandBook-EntrySharesdeliveredbysuchholder)shallreceive,in

4

Page 20: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

lieuthereof,cash(roundeddowntothenearestwholecentandwithoutinterest)inanamountequaltosuchfractionalamountmultipliedbytheParentTradingPrice(the"Fractional Share Consideration ").

(c) No Further Ownership Rights in Company Common Stock; Closing of Transfer Books. AsoftheEffectiveTime,thestocktransferbooksoftheCompanyshallbeclosed,andthereshallbenofurtherregistrationoftransfersonthestocktransferbooksoftheCompanyoftheSharesthatwereoutstandingimmediatelypriortotheEffectiveTime,otherthanregistrationsoftransferstoreflect,withcustomarysettlementprocedures,tradeseffectedpriortotheEffectiveTime.TheMergerConsiderationpaidinaccordancewiththetermsofthisArticle II uponsurrenderofanySharesshallbedeemedtohavebeenpaidinfullsatisfactionofallrightspertainingtosuchShares.FromandaftertheEffectiveTime,theholdersofSharesoutstandingimmediatelypriortotheEffectiveTimeshallceasetohaveanyrightswithrespecttosuchSharesexceptasotherwiseprovidedforhereinorbyapplicablelaw.If,aftertheEffectiveTime,CertificatesorBook-EntrySharesarepresentedtotheSurvivingCorporation,ParentortheExchangeAgentforanyreason,theyshallbecancelledand,subjecttotheproceduressetforthinSection 2.02(b) ,exchangedasprovidedinthisArticle II ,exceptasotherwiserequiredbylaw.

(d) Termination of Exchange Fund; Abandoned Property. AnyportionoftheExchangeFundthatremainsundistributedtotheholdersoftheSharesontheone-yearanniversaryoftheEffectiveTimeshallbedeliveredtotheSurvivingCorporation,upondemand,andanyholdersoftheShareswhohavenottheretoforecompliedwiththisArticle II shallthereafterlookonlytotheSurvivingCorporationasgeneralcreditorthereof(subjecttoabandonedproperty,escheatandothersimilarlaws)forpaymentoftheirclaimforMergerConsideration.

(e) No Liability. NotwithstandinganythingtothecontraryinSection 2.02 (d) ,noneofParent,MergerSub,theSurvivingCorporationortheExchangeAgentoranyoftheirrespectivedirectors,officers,employeesandagentsshallbeliabletoanyholderofaShareforMergerConsiderationdeliveredtoapublicofficialpursuanttoanyapplicableabandonedproperty,escheatorsimilarlaw.IfanyCertificate(oraffidavitsoflossinlieuthereofasprovidedinSection 2.02(g) )shallnothavebeensurrenderedpriortothedateonwhichtheMergerConsiderationrepresentedbysuchCertificatewouldotherwiseescheattoorbecomethepropertyofanyGovernmentalAuthority,anysuchMergerConsiderationshall,totheextentpermittedbyapplicablelaw,becomethepropertyoftheSurvivingCorporation,freeandclearofallclaimsorinterestofanypersonpreviouslyentitledthereto.

(f) Withholding Rights. Notwithstandinganythinghereintothecontrary,eachofParent,MergerSub,theSurvivingCorporationandtheExchangeAgent,asapplicable,shallbeentitledtodeductandwithholdfromanyconsiderationpayablepursuantto,orinaccordancewith,thisAgreementtoanypersonsuchamountsasParent,MergerSub,theSurvivingCorporationortheExchangeAgent,asapplicable,arerequiredtodeductandwithholdwithrespecttothemakingofsuchpaymentundertheCodeoranyotherprovisionofapplicablefederal,state,localorforeignTaxlaw.TotheextentthatamountsaresodeductedandwithheldbyParent,MergerSub,theSurvivingCorporationortheExchangeAgent,asthecasemaybe,suchdeductedandwithheldamountsshallbe(i)remittedbyParent,MergerSub,theSurvivingCorporationortheExchangeAgent,asapplicable,totheapplicableGovernmentalAuthority,and(ii)totheextentremittedtotheapplicableGovernmentalAuthorityinaccordancewithsubpart(i),treatedforallpurposesofthisAgreementashavingbeenpaidtothepersoninrespectofwhichsuchdeductionandwithholdingwasmadebyParent,MergerSub,theSurvivingCorporationortheExchangeAgent,asthecasemaybe.

(g) Lost, Stolen or Destroyed Certificates. IfanyCertificateshallhavebeenlost,stolenordestroyed,uponthemakingofanaffidavitofthatfactbythepersonclaimingsuchCertificatetobelost,stolenordestroyedand,ifrequiredbyParent,thepostingbysuchpersonofabondinsuchreasonableamountasParentmaydirectasindemnityagainstanyclaimthatmaybemadeagainstitor

5

Page 21: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

theSurvivingCorporationwithrespecttosuchCertificate,theExchangeAgentshallissue,orpayorcausetobepaid,inexchangeforsuchlost,stolenordestroyedCertificate,theMergerConsiderationandanycashinlieuoffractionalsharesandanydividendsanddistributionsonsuchCertificate,ineachcasedeliverableinrespectthereofpursuanttothisAgreement.

(h) Adjustments to Merger Consideration. IntheeventthattheCompanyorParentchangesthenumberofsharesofCompanyCommonStock,ParentCommonStockorsecuritiesconvertibleorexchangeableintoorexercisableforsharesofCompanyCommonStockorParentCommonStock,asapplicable,issuedandoutstandingpriortotheEffectiveTimeasaresultofareclassification,stocksplit(includingareversestocksplit),stockdividendordistribution,subdivision,exchangeorreadjustmentofshares,orothersimilartransaction,thenanynumberoramountcontainedhereinwhichisbaseduponthepriceofParentCommonStock,orthenumberofsharesofParentCommonStockorCompanyCommonStock,asthecasemaybe,theMergerConsiderationandanyothersimilarlydependentitemsshallbeequitablyadjustedtoreflectsuchchange;provided ,however ,thatnothinginthisSection 2.02(h) shallbedeemedtopermitorauthorizeanypartyheretotoeffectanysuchchangethatitisnototherwiseauthorizedorpermittedtoundertakepursuanttothisAgreement.

Section2.03 Treatment of Company Equity Awards. TheCompanywilladoptresolutions,andtakesuchotheractionsasarereasonablynecessarytoeffectthefollowing:

(a) Assumption of Company Stock Options .

(i)AttheEffectiveTime,eachCompanyStockOption(orportionthereof)thatisoutstandingandunexercisedasofimmediatelypriortotheEffectiveTime,whethervestedorunvested,shallbeassumedbyParentandshallbeconvertedintoanoption(an"Assumed Stock Option ")topurchaseanumberofsharesofParentCommonStock(roundeddowntothenearestwholeshare)equaltotheproductofthenumberofsharesofCompanyCommonStocksubjecttosuchCompanyStockOptionimmediatelypriortotheEffectiveTimemultipliedbytheExchangeRatio.ThepershareexercisepricefortheParentCommonStockissuableuponexerciseofsuchAssumedStockOptionshallbeequal(roundeduptothenearestwholecent)totheexercisepricepershareofCompanyCommonStockapplicabletosuchCompanyStockOptionimmediatelypriortotheEffectiveTimedividedbytheExchangeRatio.Exceptasprovidedabove,eachAssumedStockOptionshallbesubjecttothesametermsandconditions(includingexpirationdate,vestingandexerciseprovisions)aswereapplicabletothecorrespondingCompanyStockOptionimmediatelypriortotheEffectiveTime,exceptthatallreferencestothe"Company"intheapplicableCompanyEmployeeStockPlanandoptionagreementswillbereferencestoParent.FromandaftertheEffectiveTime,eachCompanyStockOptionshallnolongerrepresenttherighttoacquireCompanyCommonStock.Itistheintentofthepartiesheretothattotheextentpermittedbyapplicablelaws,theassumptionofeachCompanyStockOptionshallbeperformedinamannerthatisinmaterialcompliancewiththerequirementsofSection409AoftheCode(andapplicableregulationsthereunder)or,totheextentsuchCompanyStockOptionisintendedtoqualifyasanincentivestockoption,Section424(a)oftheCode(andapplicableregulationsthereunder).

(ii)AssoonaspracticableaftertheEffectiveTime,ParentshalldelivertotheholderofeachCompanyStockOptionappropriatenoticessettingforththenumberofsharesofParentCommonStocksubjecttoeachsuchAssumedStockOptionthenheldbysuchholderandtheexercisepriceundereachsuchAssumedStockOption,eachasadjustedpursuanttoSection 2.03(a)(i) hereof.

(b) Assumption of Company Restricted Stock Units. AttheEffectiveTime,eachthen-outstandingCompanyRestrictedStockUnit(butexcluding,fortheavoidanceofdoubt,anyCompanyRestrictedStockUnit(orportionthereof)thatbecomesvestedpriortoorasaresultoftheconsummationoftheMergerandissettledinSharesthat,inturn,convertsintotherighttoreceivetheMergerConsiderationpursuanttoSection 2.01 )shallbeassumedbyParentandshallbeconvertedintothe

6

Page 22: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

righttoreceivethenumberofsharesofParentCommonStock(roundeddowntothenearestwholeshare)equaltotheproductofthenumberofsharesofCompanyCommonStocksubjecttosuchCompanyRestrictedStockUnitimmediatelypriortotheEffectiveTimemultipliedbytheExchangeRatio;provided,thatsuchrightshallbesubjecttothesametermsandconditions(includingvesting,paymentandwithholdingprovisions)aswereapplicabletothecorrespondingCompanyRestrictedStockUnitimmediatelypriortotheEffectiveTime(exceptthatallreferencestothe"Company"intheapplicableCompanyEmployeeStockPlansandrestrictedstockunitagreementswillbereferencestoParent).FromandaftertheEffectiveTime,eachsuchCompanyRestrictedStockUnitshallnolongerrepresenttherighttoacquireanyCompanyCommonStock.

(c) Treatment of Company ESPP. PriortotheEffectiveTime,theCompanyshall:(i)causeanyofferingperiod(orsimilarperiodduringwhichsharesmaybepurchased)inprogressundertheCompanyESPPimmediatelypriortotheClosingtobethefinalofferingperiodundertheCompanyESPPandtobeterminatednolaterthanthreeBusinessDayspriortotheClosingDateandnoearlierthantenBusinessDayspriortotheClosingDate(the"Final Exercise Date ");(ii)makeanypro-rataadjustmentsthatmaybenecessarytoreflecttheshortenedofferingperiod(orsimilarperiod),butotherwisetreatsuchshortenedofferingperiod(orsimilarperiod)asafullyeffectiveandcompletedofferingperiodforallpurposesundertheCompanyESPP;(iii)causeeachparticipant'sthen-outstandingsharepurchaserightundertheCompanyESPP(the"Company ESPP Rights ")tobeexercisedasoftheFinalExerciseDate;and(iv)terminatetheCompanyESPPasoftheEffectiveTime.OntheFinalExerciseDate,thefundscreditedasofsuchdateundertheCompanyESPPwithintheassociatedaccumulatedpayrollwithholdingaccountforeachparticipantundertheCompanyESPPshallbeusedtopurchasesharesofCompanyCommonStockinaccordancewiththetermsoftheCompanyESPP,andeachsharepurchasedthereunderpriortotheEffectiveTimeshallbecancelledattheEffectiveTimeandconvertedintotherighttoreceivetheMergerConsiderationinaccordancewithSection 2.01(b) ,subjecttowithholdingofanyapplicableincomeandemploymentwithholdingTaxes.AnyaccumulatedcontributionsofeachparticipantundertheCompanyESPPasofimmediatelypriortotheEffectiveTimeshall,totheextentnotusedtopurchasesharesinaccordancewiththetermsandconditionsoftheCompanyESPP(asamendedpursuanttothisSection 2.03(c) ),berefundedtosuchparticipantaspromptlyaspracticablefollowingtheEffectiveTime(withoutinterest).NofurtherCompanyESPPRightsshallbegrantedorexercisedundertheCompanyESPPaftertheFinalExerciseDate.TheCompanyshallprovidetimelynoticetoparticipantsofthesettingoftheFinalExerciseDateandterminationoftheCompanyESPPinaccordancewiththeCompanyESPP.

Section2.04 Company Equity Awards Assumed by Parent; Parent Actions. AttheEffectiveTime,ParentshallassumealloftheobligationsoftheCompanyundertheCompanyEmployeeStockPlansinrespectofCompanyStockOptionsandCompanyRestrictedStockUnits,andshallassumesuchoutstandingawardsandtheobligationsundertheagreementsevidencingsuchawards.ParentshalltakeallcorporateactionnecessarytoreserveforissuanceanumberofauthorizedbutunissuedsharesofParentCommonStockfordeliveryuponsettlementoftheassumedCompanyStockOptionsandCompanyRestrictedStockUnitsinaccordancewithSection 2.03 .PromptlyaftertheClosingDate(butinnoeventmorethanfive(5)BusinessDaysthereafter),ParentshallfileorotherwisehaveavailablearegistrationstatementonFormS-8(orotherappropriateform)withrespecttothesharesofParentCommonStocksubjecttotheassumedCompanyStockOptionsandCompanyRestrictedStockUnits.

7

Page 23: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Section2.05 Company Warrants .

(a)AttheEffectiveTime,eachOutstandingWarrant(orportionthereof)thatisoutstandingandunexercisedasofimmediatelypriortotheEffectiveTimeshallbeassumedbyParentandshallbeconvertedintoawarrant(an"Assumed Warrant ")topurchaseanumberofsharesofParentCommonStock(roundeddowntothenearestwholeshare)equaltotheproductofthenumberofsharesofCompanyCommonStocksubjecttosuchOutstandingWarrantimmediatelypriortotheEffectiveTimemultipliedbytheExchangeRatio.ThepershareexercisepricefortheParentCommonStockissuableuponexerciseofsuchAssumedWarrantshallbeequal(roundeduptothenearestwholecent)totheexercisepricepershareofCompanyCommonStockapplicabletosuchOutstandingWarrantimmediatelypriortotheEffectiveTimedividedbytheExchangeRatio.Exceptasprovidedabove,theAssumedWarrantshallbesubjecttothesametermsandconditions(includingexpirationdateandexerciseprovisions)aswereapplicabletothecorrespondingOutstandingWarrantimmediatelypriortotheEffectiveTime,exceptthatallreferencestothe"Company"intheapplicableOutstandingWarrantwillbereferencestoParent.FromandaftertheEffectiveTime,eachOutstandingWarrantshallnolongerrepresenttherighttoacquireCompanyCommonStockoranyothercapitalstockoftheCompany.

(b)AssoonaspracticableaftertheEffectiveTime,ParentshalldelivertotheholderofeachOutstandingWarrantappropriatenoticessettingforththenumberofsharesofParentCommonStocksubjecttosuchAssumedWarrantthenheldbyeachsuchholderandtheexercisepriceundereachsuchAssumedWarrant,eachasadjustedpursuanttoSection 2.05(a) hereof.

(c)AttheEffectiveTime,eachConvertedWarrant(orportionthereof)thatisoutstandingandunexercisedasofimmediatelypriortotheEffectiveTimeshallbecancelledandconvertedintotherighttoreceiveanumberofsharesofParentCommonStockequalto(i)thenumberofsharesofCompanyCommonStocksubjecttosuchConvertedWarrantmultiplied by theExchangeRatiominus (ii)thequotientobtainedbydividingtheaggregateexercisepriceofsuchConvertedWarrantbytheParentTradingPrice(the"Warrant Consideration ").NocertificateorscriporsharesrepresentingfractionalParentCommonStock(whethercertificatedorbook-entryshares)shallbeissuedinconnectionwiththeWarrantConsideration,andsuchfractionalshareinterestsshallnotentitletheownerthereoftovoteortoanyotherrightsofastockholderofParent.EachholderofaConvertedWarrantcancelledandconvertedpursuanttothisSection 2.05(c) whowouldotherwisehavebeenentitledtoreceiveafractionofashareofParentCommonStockshallreceive,inlieuthereof,cash(roundeddowntothenearestwholecentandwithoutinterest)inanamountequaltosuchfractionalamountmultipliedbytheParentTradingPrice(the"Warrant Fractional Share Consideration ").AftertheEffectiveTimeeachholderofaConvertedWarrantshallceasetohaveanyrightswithrespecttosuchConvertedWarrantexcepttherightsprovidedinthisSection2.05(c).AtorimmediatelyaftertheEffectiveTime,Parentshallissueandpay,ordepositwiththeExchangeAgentandcausetheExchangeAgenttodeliverandpay,totheholderofeachConvertedWarranttheapplicableWarrantConsiderationandWarrantFractionalShareConsiderationinaccordancewiththisSection 2.05(c) .

Section2.06 Tax Treatment. Itisintendedthat,forU.S.federalincometaxpurposes,theMergerwillqualifyasa"reorganization"withinthemeaningofSection368(a)oftheCode,andthatthisAgreementbe,andisherebyadoptedas,a"planofreorganization"withinthemeaningofTreasuryRegulationsSection1.368-2(g)andforpurposesofSections354and361oftheCode.

ARTICLE III REPRESENTATIONS AND WARRANTIES

Section3.01 Representations and Warranties of the Company. Exceptassetforthin(i)thecorrespondingsectionsofthedisclosureletterdatedthedateofthisAgreementanddeliveredtoParentbytheCompanyconcurrentlywiththeexecutionanddeliveryofthisAgreement(itbeing

8

Page 24: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

understoodthatdisclosureofanyiteminanysectionorsubsectionofsuchdisclosurelettershallalsobedeemedtobedisclosedwithrespecttoanyothersectionorsubsectiononlyiftherelevanceofsuchitemisreadilyapparentfromthefaceofsuchdisclosure)(the"Company Disclosure Letter ")or(ii)theCompanySECReportspubliclyfiledwiththeSEConorafterFebruary13,2019andpriortothedateofthisAgreement(butexcludingriskfactorsandexcludingforward-lookingdisclosureorstatementsandotherdisclosuresthatarepredictiveorforward-lookinginnature,otherthanhistoricalfactsincludedtherein),theCompanyrepresentsandwarrantstoParentasfollows:

(a) Organization and Qualification.

(i)TheCompanyisdulyorganized,validlyexistingandingoodstandingunderthelawsoftheStateofDelaware,exceptforsuchfailurestobeingoodstandingthat,individuallyorintheaggregate,havenothadandwouldnotreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect.TheCompanyhastherequisitecorporate(orsimilar)powerandauthoritytoconductitsbusinessaspresentlyconductedandtoown,useandleaseitsassetsandproperties,exceptforsuchfailurestobesoorganized,existingandingoodstanding(withrespecttojurisdictionsthatrecognizetheconceptofgoodstanding)ortohavesuchpowerandauthoritythat,individuallyorintheaggregate,havenothadandwouldnotreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect.TheCompanyisdulyqualified,licensedoradmittedtodobusinessandisingoodstanding(withrespecttojurisdictionsthatrecognizetheconceptofgoodstanding)ineachjurisdictioninwhichtheownership,useorleasingofitsassetsandproperties,ortheconductornatureofitsbusiness,makessuchqualification,licensingoradmissionnecessary,exceptforsuchfailurestobesoqualified,licensedoradmittedandingoodstanding(withrespecttojurisdictionsthatrecognizetheconceptofgoodstanding)that,individuallyorintheaggregate,havenothadandwouldnotreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect.TheCompanyhasnosubsidiaries.TheCompanyhasdisclosedordeliveredtoParentpriortothedateofthisAgreementatrueandcompletecopyoftheCompany'scertificateofincorporationandby-lawsorcomparableorganizationalandgoverningdocuments,eachasamendedthroughthedateofthisAgreement,andeachassodisclosedordeliveredisinfullforceandeffectonthedateofthisAgreement.

(ii)Section 3.01(a)(ii) oftheCompanyDisclosureLettersetsforthalistofallCompanyJointVentures,includingthenameofeachsuchentityanditsowners.

(iii)ExceptforinterestsinanyCompanyJointVentures,theCompanydoesnotdirectlyorindirectlyownanyequityorsimilarinterestin,oranyinterestconvertibleintoorexchangeableorexercisablefor,anyequityorsimilarinterestin,anyperson.

(b) Capital Stock.

(i)TheauthorizedcapitalstockoftheCompanyconsistsof200,000,000sharesofcommonstock,parvalue$0.00001(the"Company Common Stock"),and10,000,000sharesofpreferredstock,parvalue$0.00001,oftheCompany.AsofthecloseofbusinessonAugust5,2019(the"CompanyReferenceDate"),therewereoutstanding(A)17,135,084sharesofCompanyCommonStock,(B)anaggregateof3,171,914sharesofCompanyCommonStocksubjecttooutstandingCompanyStockOptions(excludingCompanyESPPRights),(C)anaggregateof304,466sharesofCompanyCommonStocksubjecttooutstandingCompanyRestrictedStockUnits,(D)nosharesofpreferredstock,(E)2,199,101sharesofCompanyCommonStockavailableandreservedforissuance(butnotissued)undertheCompanyEmployeeStockPlans,(F)350,000sharesofCompanyCommonStockavailableandreservedforissuance(butnotissued)undertheCompanyESPPand(G)CompanyWarrantstoacquire193,603sharesofCompanyCommonStock.

(ii)AsoftheCompanyReferenceDate,exceptassetforthinthisSection 3.01(b) andexceptforchangessincesuchdatepermittedbySection 4.01 ofthisAgreementortheCompany

9

Page 25: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

DisclosureLetterorresultingfromtheexerciseofCompanyStockOptionsorCompanyWarrantsorthesettlementofCompanyRestrictedStockUnitsorCompanyESPPRights,ineachcaseoutstandingonsuchdate(orfollowingsuchdateifpermittedpursuanttoSection 4.01 ofthisAgreementortheCompanyDisclosureLetter),therearenoissued,reservedforissuanceoroutstanding(A)sharesofcapitalstockorothervotingsecuritiesoforotherequityinterestsintheCompany,(B)securitiesoftheCompanyconvertibleintoorexchangeableforsharesofcapitalstockorothervotingsecuritiesoforotherequityinterestsintheCompany,(C)warrants,calls,OptionsorotherrightstoacquirefromtheCompany,orotherobligationoftheCompanytoissue,anysharesofcapitalstock,votingsecuritiesorsecuritiesconvertibleintoorexchangeableforcapitalstockorothervotingsecuritiesoforotherownershipinterestsintheCompanyor(D)restrictedshares,stockappreciationrights,performanceunits,contingentvaluerights,phantomstockorsimilarsecuritiesorrightsissuedorgrantedbytheCompanythatarederivativeof,orprovideeconomicbenefitsbased,directlyorindirectly,onthevalueorpriceof,anysharesofcapitalstockorothervotingsecuritiesoforotherequityinterestsintheCompany.

(iii)OtherthanaslistedonSection 3.01(b)(iii) oftheCompanyDisclosureLetter,nobonds,debentures,notesorotherindebtednessoftheCompanyhavingtherighttovote(orwhichareconvertibleintoorexercisableforsecuritieshavingtherighttovote)(collectively,"Company Voting Debt ")onanymattersonwhichtheCompanystockholdersmayvoteareissuedoroutstandingnorarethereanyoutstandingOptionsobligatingtheCompanytoissueorsellanyCompanyVotingDebtortogrant,extendorenterintoanyOptionwithrespectthereto.

(iv)AlloftheissuedandoutstandingsharesofCompanyCommonStockare,andallsharesreservedforissuancewillbe,uponissuanceinaccordancewiththetermsspecifiedintheinstrumentsoragreementspursuanttowhichtheyareissuable,dulyauthorized,validlyissued,fullypaidandnonassessable.Allofthesharesofcapitalstock,membershipinterests,partnershipinterests,votingsecuritiesorotherownershipinterestsofeachCompanyJointVenturethatareheldbytheCompanyaredulyauthorized,validlyissued,fullypaidandnon-assessableandareowned,beneficiallyandofrecord,bytheCompany,freeandclearofLiens.Therearenovotingtrusts,proxiesorothercommitments,understandings,restrictionsorarrangementstowhichtheCompanyisapartyinfavorofanypersonotherthantheCompanywithrespecttothevotingofortherighttoparticipateindividendsorotherearningsonanycapitalstock,membershipinterests,partnershipinterests,votingsecuritiesorotherownershipinterestsoftheCompany,ortheCompanyJointVentures.

(c) Authority.

(i)TheCompanyhasallrequisitecorporatepowerandauthoritytoenterintoanddeliverthisAgreement,toperformitsobligationshereunderandtoconsummatethetransactionscontemplatedhereby,includingtheMerger,subjecttoanyregulatoryapprovalsreferencedinSection 3.01(d)(ii) .Theexecution,deliveryandperformanceofthisAgreementbytheCompanyandtheconsummationbytheCompanyofthetransactionscontemplatedhereby,includingtheMerger,havebeendulyandvalidlyauthorizedbyallrequisiteactiononthepartoftheCompanywithrespecttothisAgreementandadoptedandunanimouslyapprovedbytheCompanyBoardandnoothercorporateproceedingsonthepartoftheCompanyarenecessarytoauthorizetheexecution,deliveryandperformanceofthisAgreementbytheCompanyandtheconsummationbytheCompanyoftheMergerandtheothertransactionscontemplatedhereby,otherthanobtainingtheCompanyStockholderApproval,approvalsundertheHSRActandanyotherapplicableAntitrustLawsandthefilingoftheCertificateofMergerwiththeSecretaryofStateoftheStateofDelaware.ThisAgreementhasbeendulyauthorizedandvalidlyexecutedanddeliveredbytheCompanyand,assumingthisAgreementconstitutesthelegal,validandbindingobligationofParentandMergerSub,constitutesalegal,validandbindingobligationoftheCompanyenforceableagainsttheCompanyinaccordancewithitsterms,exceptassuchenforcementmaybe

10

Page 26: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

subjecttoapplicablebankruptcy,insolvency,reorganization,moratoriumorothersimilarlawsrelatingtocreditors'rightsgenerally,andgeneralequitableprinciples.

(ii)TheCompanyBoard,atameetingdulycalledandheld,dulyandunanimouslyadoptedresolutions(which,asofthedateofthisAgreement,havenotbeenrescinded,withdrawnormodifiedinanymanner)(A)adopting,approvinganddeclaringadvisablethisAgreementandthetransactionscontemplatedhereby,includingtheMerger,(B)determiningthatthetermsofthisAgreement,theMergerandtheothertransactionscontemplatedhereby,includingtheVotingAgreements,arefairtoandinthebestinterestsoftheCompanyanditsstockholdersand(C)recommendingthattheholdersoftheCompanyCommonStockadoptthisAgreement(suchrecommendation,the"Company Board Recommendation "),whichCompanyBoardRecommendation,asofthedateofthisAgreement,hasnotbeensubsequentlyrescinded,withdrawnormodifiedinanymanner.SubjecttoSection 4.03 ,theCompanyherebyconsentstotheinclusionoftheCompanyBoardRecommendationintheProxyStatement.

(d) No Conflicts; Approvals and Consents.

(i)TheexecutionanddeliveryofthisAgreementbytheCompanydoesnot,andtheperformancebytheCompanyofitsobligationshereunderandtheconsummationoftheMergerandtheothertransactionscontemplatedhereby(includingtheVotingAgreements)willnot,conflictwith,resultinaviolationof,lossofrightsunder,breachof,constitute(withorwithoutnoticeorlapseoftimeorboth)adefaultunder,resultinorgivetoanypersonanyrightofpaymentorreimbursement,termination,cancellation,modificationoraccelerationof,orresultinthecreationorimpositionofanyLien,otherthanPermittedLiens,uponanyoftheassetsorpropertiesoftheCompanyoranyoftheCompanyJointVenturesunder,anyoftheterms,conditionsorprovisionsof(A)thecertificatesorarticlesofincorporationorby-laws(orothercomparableorganizationaldocuments)oftheCompanyoranyoftheCompanyJointVentures,or(B)subjecttotheobtainingoftheCompanyStockholderApprovalandthetakingoftheactionsdescribedinparagraph(ii)ofthisSection 3.01(d) ,includingthefilingsandapprovalsdescribedinSection 3.01(d)(ii) ,(x)anystatute,law,rule,regulationorordinance(together,"laws"),(y)anyjudgment,order,writ,injunctionordecree(together,"orders "),ofanyfederal,state,localorforeigngovernmentoranycourtofcompetentjurisdiction,administrativeagencyorcommissionorothergovernmentalauthorityorinstrumentality,domestic,foreignorsupranational(each,a"Governmental Authority ")applicabletotheCompanyoranyoftheCompanyJointVenturesoranyoftheirrespectiveassetsorproperties,exceptforanysuchconflictorviolationthatwouldnotbematerialtotheCompany,takenasawholeor(z)anynote,bond,mortgage,securityagreement,creditagreement,indenture,license,franchise,concession,LeaseorContract,excludingfromtheforegoingclause(z)suchitemsthat,individuallyorintheaggregate,havenothadandwouldnotreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect.

(ii)Exceptfor(A)compliancewith,andfilings,consentsorapprovalsunder,theHart-Scott-RodinoAntitrustImprovementsActof1976,asamended(the"HSR Act ");(B)thefilingwiththeSecuritiesandExchangeCommission(the"SEC ")of(1)aproxystatement(suchproxystatement,asamendedorsupplementedfromtimetotime,the"Proxy Statement ")tobesentormadeavailabletothestockholdersoftheCompanyrelatingtothespecialmeetingofthestockholdersoftheCompanytobeheldtoconsideradoptionofthisAgreement(the"Company Special Meeting ")pursuanttotheSecuritiesExchangeActof1934,asamended,andtherulesandregulationsthereunder(the"Exchange Act "),(2)Parent'sregistrationstatementonFormS-4asaprospectusinwhichtheProxyStatementwillbeincluded(the"Proxy/S-4 "),andthedeclarationofeffectivenessoftheportionthereofconsistingoftheProxy/S-4bytheSEC,and(3)suchreportsundertheSecuritiesActorExchangeActasmayberequiredinconnectionwiththisAgreementandthetransactionscontemplatedhereby;(C)suchfilingsandapprovalsasmayberequiredundertherulesandregulationsoftheNewYorkStockExchange("NYSE ")andTheNasdaqStock

11

Page 27: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

MarketLLC("Nasdaq ");and(D)thefilingoftheCertificateofMergerwiththeSecretaryofStateoftheStateofDelawarepursuanttotheDGCLandsuchfilingswithanyotherGovernmentalAuthorities,noconsent,approval,license,permit,orderorauthorizationofaGovernmentalAuthority("Consents")oractionof,registration,declarationorfilingwithornoticetoanyGovernmentalAuthorityisnecessaryorrequiredtobeobtainedormadebytheCompanyortheCompanyJointVenturesinconnectionwiththeexecutionanddeliveryofthisAgreementbytheCompany,theperformancebytheCompanyofitsobligationshereunderortheconsummationoftheMergerandtheothertransactionscontemplatedhereby,ineachcase,otherthansuchitemsthatthefailuretomakeorobtain,asthecasemaybe,individuallyorintheaggregate,wouldnotreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect.

(e) SEC Reports, Financial Statements.

(i)TheCompanyhastimelyfiledorfurnishedeachform,report,schedule,registrationstatement,registrationexemption,ifapplicable,definitiveproxystatementandotherdocument(togetherwithallamendmentsthereofandsupplementsthereto)requiredtobefiledorfurnishedbytheCompanypursuanttotheSecuritiesActof1933,asamended,andtherulesandregulationsthereunder(the"Securities Act ")ortheExchangeActwiththeSECsinceFebruary13,2019(assuchdocumentshavesincethetimeoftheirfilingbeenamendedorsupplemented,the"Company SEC Reports ").Asoftheirrespectivedates,aftergivingeffecttoanyamendmentsorsupplementsthereto,theCompanySECReports(A)compliedinallmaterialrespectswiththerequirementsoftheSecuritiesActandtheExchangeAct,asapplicable,and,totheextentapplicable,theSarbanes-OxleyActof2002("SOX "),and(B)didnotcontainanyuntruestatementofamaterialfactoromittostateamaterialfactrequiredtobestatedthereinornecessaryinordertomakethestatementstherein,inlightofthecircumstancesunderwhichtheyweremade,notmisleading.AsofthedateofthisAgreement,therearenomaterialoutstandingorunresolvedcommentsincommentlettersfromtheSECstaffwithrespecttoanyoftheCompanySECReports.

(ii)EachoftheprincipalexecutiveofficeroftheCompanyandtheprincipalfinancialofficeroftheCompany(oreachformerprincipalexecutiveofficeroftheCompanyandeachformerprincipalfinancialofficeroftheCompany,asapplicable)hasmadeallcertificationsrequiredbyRule13a-14or15d-14undertheExchangeActorSections302and906ofSOXandtherulesandregulationsoftheSECpromulgatedthereunderwithrespecttotheCompanySECReports.Forpurposesoftheprecedingsentence,"principalexecutiveofficer"and"principalfinancialofficer"shallhavethemeaningsgiventosuchtermsinSOX.SinceFebruary13,2019,theCompanyhasnotarrangedanyoutstanding"extensionsofcredit"todirectorsorexecutiveofficerswithinthemeaningofSection402ofSOX.

(iii)Theauditedconsolidatedfinancialstatementsandunauditedinterimconsolidatedfinancialstatements(including,ineachcase,thenotes,ifany,thereto)includedintheCompanySECReports(the"Company Financial Statements ")compliedinallmaterialrespectswiththepublishedrulesandregulationsoftheSECwithrespecttheretoineffectatthetimeoffilingorfurnishingtheapplicableCompanySECReport,werepreparedinaccordancewithUnitedStatesgenerallyacceptedaccountingprinciples("GAAP ")appliedonaconsistentbasisduringtheperiodsinvolved(exceptasmaybeindicatedthereinorinthenotestheretoandexceptwithrespecttounauditedstatementsaspermittedbytheSEConForm8-K,Form10-QoranysuccessororlikeformundertheExchangeAct)andfairlypresent(subject,inthecaseoftheunauditedinterimfinancialstatements,tonormal,recurringyearendauditadjustmentsthatwouldnotbe,individuallyorintheaggregate,materiallyadversetotheCompany)inallmaterialrespectstheconsolidatedfinancialpositionoftheCompany,asoftherespectivedatesthereof,andtheconsolidatedresultsofitsoperationsandcashflowsfortherespectiveperiodsthenended.

12

Page 28: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(iv)TheCompanymaintainsasystemofinternalcontroloverfinancialreporting(asdefinedinRules13a-15(f)and15d-15(f)oftheExchangeAct)sufficienttoprovidereasonableassurancesregardingthereliabilityoffinancialreporting.TheCompany(A)maintainsdisclosurecontrolsandprocedures(asdefinedinRules13a-15(e)and15d-15(e)oftheExchangeAct)toprovidereasonableassurancethatallinformationrequiredtobedisclosedbytheCompanyinthereportsthatitfilesorsubmitsundertheExchangeActisrecorded,processed,summarizedandreportedwithinthetimeperiodsspecifiedintheSEC'srulesandformsandisaccumulatedandcommunicatedtotheCompany'smanagementasappropriatetoallowtimelydecisionsregardingrequireddisclosure,and(B)hasdisclosed,basedonitsmostrecentevaluationofinternalcontroloverfinancialreporting,totheCompany'soutsideauditorsandtheauditcommitteeoftheCompanyBoard(x)allsignificantdeficienciesandmaterialweaknessesinthedesignoroperationofinternalcontroloverfinancialreportingthatarereasonablylikelytoadverselyaffecttheCompany'sabilitytorecord,process,summarizeandreportfinancialinformationand(y)anyfraud,whetherornotmaterial,thatinvolvesmanagementorotheremployeeswhohaveasignificantroleintheCompany'sinternalcontroloverfinancialreporting,andtheinformationdescribedintheforegoingclauses(x)and(y)hasbeendisclosedtoParentpriortothedateofthisAgreement.

(f) Absence of Certain Changes or Events. SinceDecember31,2018,throughthedateofthisAgreement,(i)theCompanyhasconducteditsbusinessinallmaterialrespectsintheordinarycourseofbusinessconsistentwithpastpractice,(ii)therehasnotbeenanychange,eventordevelopmentthat,individuallyorintheaggregate,hashad,orwouldreasonablybeexpectedtohave,aCompanyMaterialAdverseEffect,and(iii)sinceMarch31,2019andpriortothedateofthisAgreement,therehasnotbeenanyactiontakenbytheCompanythat,iftakenduringtheperiodfromthedateofthisAgreementthroughtheEffectiveTime,wouldconstituteabreachofanyofthecovenantssetforthinSection 4.01 .

(g) Absence of Undisclosed Liabilities. Exceptfor(i)mattersreflected,providedorreservedagainstinthebalancesheet(ornotesthereto)asofMarch31,2019includedintheCompanyFinancialStatements,(ii)liabilitiesorobligationsthatwereincurredintheordinarycourseofbusinessconsistentwithpastpracticesinceMarch31,2019,(iii)liabilitiesorobligationsthatareincurredinconnectionwiththeMergerorthetransactionscontemplatedbythisAgreement,(iv)liabilitiesunderMaterialContractsandothercontractsenteredintointheordinarycourseofbusinessconsistentwithpastpractice(excludingliabilitiesarisingfromabreachofanysuchcontract)or(v)liabilitiesorobligationsthat,individuallyorintheaggregate,arenotmaterialtotheCompany,theCompanyhasnothadanyliabilitiesorobligations(whetherabsolute,accrued,contingent,fixedorotherwise,orwhetherdueortobecomedue).TheCompanyisnotapartyto,norhasanycommitmenttobecomeapartyto,anyjointventure,off-balancesheetpartnershiporanysimilarcontractorarrangement(includinganyContractrelatingtoanytransactionorrelationshipbetweenoramongthe,ontheonehand,andanyunconsolidatedaffiliate,includinganystructuredfinance,specialpurposeorlimitedpurposeentityorperson,ontheotherhand),orany"off-balancesheetarrangements"(asdefinedinItem303(a)ofRegulationS-KundertheExchangeAct),wheretheresult,purposeoreffectofsuchcontractorarrangementistoavoiddisclosureofanymaterialtransactioninvolving,ormaterialliabilitiesof,theCompany,intheCompanyFinancialStatementsortheCompanySECReports.

(h) Legal Proceedings. AsofthedateofthisAgreement,thereareno(i)claims,actions,suits,grievances,charges,hearings,arbitrations,investigationsorotherproceedings,audits,inquiries,orreviews(collectively,"Proceedings "),ineachcase,beforeanyGovernmentalAuthorityorarbitrationpendingor,totheknowledgeoftheCompanythreatenedagainsttheCompany,oranyCompanyJointVentureoranyoftheirrespectiveassetsandpropertiesor(ii),investigationspendingor,totheknowledgeoftheCompany,threatenedagainsttheCompany,oranyoftheCompanyJointVenturesoranyoftheirrespectiveassetsandpropertiesbyaGovernmentalAuthoritythat,ineachcase,

13

Page 29: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

individuallyorintheaggregate,havehadorwouldreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect.NeithertheCompanynoranyoftheCompanyJointVenturesoranyoftheirrespectiveassetsorpropertiesisapartytoorsubjecttoanyorder,judgment,decree,settlement,injunctionorruleofanyGovernmentalAuthoritythat,individuallyorintheaggregate,hashadorwouldreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect.

(i) Information Supplied. NoneoftheinformationsuppliedortobesuppliedbytheCompanyspecificallyforinclusionorincorporationbyreferencein(a)theregistrationstatementonProxy/S-4tobefiledwiththeSECbyParentinconnectionwiththeissuanceofParentCommonStockpursuanttotheMergerwill,atthetimetheProxy/S-4becomeseffectiveundertheSecuritiesAct,containanyuntruestatementofamaterialfactoromittostateanymaterialfactrequiredtobestatedthereinornecessarytomakethestatementsthereinnotmisleading,or(b)theProxyStatementwill,atthedateitisfirstmailedormadeavailabletotheCompany'sstockholdersandParent'sstockholders,containanyuntruestatementofamaterialfactoromittostateanymaterialfactrequiredtobestatedthereinornecessaryinordertomakethestatementstherein,inlightofthecircumstancesunderwhichtheyweremade,notmisleading,exceptthatnorepresentationismadebytheCompanywithrespecttostatementsmadeorincorporatedbyreferencethereinbasedoninformationsuppliedbyoronbehalfofParentorMergerSubinconnectionherewith.TheProxyStatementwillcomply,withrespecttoallinformationregardingtheCompanyandtheCompanyJointVentures,astoforminallmaterialrespectswiththerequirementsoftheSecuritiesActandtheExchangeActandtherulesandregulationspromulgatedthereunder,exceptthatnorepresentationismadebytheCompanywithrespecttoanyotherstatementsmadeorincorporatedbyreferencetherein.

(j) Permits; Compliance with Laws and Orders.

(i)TheCompanyandtheCompanyJointVenturesholdallpermits,licenses,certificates,notices,authorizations,approvalsandsimilarConsentsofallGovernmentalAuthorities("Permits ")necessarytoown,leaseandoperatetheirrespectiveassetsandfortheconductoftheirrespectivebusinesses,exceptwherethefailuretohavesuchPermitswouldnotreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect.NosuchPermitisthesubjectofanysuitorproceedingseekingtherevocation,suspension,non-renewalorimpairmentofsuchPermit,exceptwheresuchsuitorproceedingwouldnotandwouldnotreasonablybeexpectedtoresultinaCompanyMaterialAdverseEffect.TheCompanyandtheCompanyJointVenturesareincompliancewiththetermsofsuchPermits,exceptwherethefailuretocomplywouldnotreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect.

(ii)Exceptashasnothad,orwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect:(A)theCompanyandtheCompanyJointVenturesarenot,andsinceJanuary1,2017havenotbeen,inmaterialviolationoformaterialdefaultunderanymateriallawororderofanyGovernmentalAuthority,andneithertheCompanynortheCompanyJointVentureshasbeengivenwrittennoticeof,orbeenchargedwith,anymaterialviolationofanymateriallawororderofanyGovernmentalAuthority,includingregardingnoncompliancewiththetermsofanyPermitsreferencedinSection 3.01(j)(i) ;and(B)theCompanyis,andsinceJanuary1,2017hasbeen,incomplianceinallmaterialrespectswith(1)SOXand(2)theapplicablelistingstandardsandcorporategovernancerulesandregulationsofNasdaq.

(k) Taxes.

(i)EachoftheCompanyandtheCompanyJointVentureshasfiled,orhascausedtobefiledonitsbehalf,allincomeandothermaterialTaxReturnsrequiredtobefiledbyit,andallsuchTaxReturnsaretrue,completeandaccurateinallmaterialrespectsandhavebeenpreparedincomplianceinallrespectswithallapplicablelawsandregulations.AllmaterialTaxesoftheCompanyandtheCompanyJointVentures,whetherornotshowntobedueandowingonsuch

14

Page 30: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

TaxReturns,havebeenpaid.TheCompanyandeachoftheCompanyJointVentureshasproperlypaid,collectedandremittedallmaterialamountsrequiredtohavebeenpaid,collectedorwithheldwithrespecttoTaxes,including,fortheavoidanceofdoubt,anyTaxesarisingfromsalestoitscustomersandanyTaxesrequiredtohavebeenwithheldandpaidinconnectionwithanyamountspaidorowingtoanyemployee,independentcontractor,creditor,stockholderorotherthirdparty.

(ii)ThemostrecentfinancialstatementscontainedintheCompanySECReportsfiledpriortothedateofthisAgreementreflect,inaccordancewithGAAP,anadequatereserveforallmaterialTaxespayablebytheCompanyforalltaxableperiodsthroughthedateofsuchfinancialstatements.

(iii)Thereisnodispute,audit,investigation,proceedingorclaimconcerninganymaterialTaxliabilityoftheCompanyoranyCompanyJointVenturesraisedbyanyGovernmentalAuthorityinwritingthatremainsunpaid,andnoneoftheCompanyoranyCompanyJointVenturehasreceivedwrittennoticeofanythreateneddisputes,audits,inquiries,investigations,proceedingsorclaimsrelatingtoanymaterialTaxesthathasnotbeenresolvedinfull.NeithertheCompanynortheCompanyJointVentureshasreceivedwrittennoticeofanyclaimmadebyaGovernmentalAuthorityinajurisdictionwheretheCompanyandtheCompanyJointVentures,asapplicable,doesnotfileaTaxReturnthattheCompanyisormaybesubjecttotaxationbythatjurisdiction.TheCompanyhasmadeavailabletoParentcorrectandcompletecopiesofallfederalincomeTaxReturns,examinationreports,requestsforinformationandstatementsofdeficienciesassessedagainstoragreedtobytheCompanyortheCompanyJointVenturesfiledorreceivedsinceJanuary1,2015.

(iv)Therearenooutstandingwrittenagreements,consentsorwaiverstoextendthestatutoryperiodoflimitationsapplicabletotheassessmentofanyincomeTaxesordeficienciesagainsttheCompany,andnopowerofattorneygrantedbyeithertheCompanywithrespecttoanyincomeTaxesthatarecurrentlyinforce(otherthanpowersofattorneydesignatedonanincomeTaxReturnoftheCompany).

(v)NeithertheCompanynortheCompanyJointVenturesisapartytoorboundbyanyTaxallocation,sharing,orsimilaragreement(otherthanagreementsenteredintointheordinarycourseofbusinessandtheprimarypurposeofwhichdoesnotrelatetoTaxes)andneithertheCompanynortheCompanyJointVentures(A)hasbeenamemberofanaffiliatedgroup(orsimilarstate,localorforeignfilinggroup)filingaconsolidated,combinedorunitaryTaxReturn(otherthanagroupthecommonparentofwhichistheCompany)or(B)hasanyliabilityfortheTaxesofanyperson(otherthantheCompanyandtheCompanyJointVentures)(I)underTreasuryRegulationSection1.1502-6(oranysimilarprovisionofstate,localorforeignlaw),or(II)asatransfereeorsuccessor,orotherwisepursuanttoanylaw,ruleorregulation.

(vi)TherearenoLiensforTaxes(otherthanforcurrentTaxesnotyetdueandpayableorthevalidityoramountofwhicharebeingcontestedingoodfaithbyappropriateproceedingsdiligentlyconductedandforwhichappropriatereserveshavebeenestablishedinaccordancewithGAAP)ontheassetsoftheCompanyortheCompanyJointVentures.

(vii)TheCompanyisnotapartytoanyagreement,contract,arrangementorplanthathasresultedorwouldresult,separatelyorintheaggregate,inthepaymentofany"excessparachutepayment"withinthemeaningofSection280GoftheCode(oranycorrespondingprovisionofstate,localorforeignTaxlaw).

(viii)NeithertheCompanynortheCompanyJointVentureshasdistributedstockofanotherperson,orhaditsstockdistributedbyanotherperson,inatransactionthatwaspurportedorintendedtobegovernedinwholeorinpartbySections355or361oftheCode.

15

Page 31: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(ix)TheCompanydoesnothaveanyobligationtoreimburseorotherwise"gross-up"anypersonfortheinterestoradditionalTaxincurredbysuchpersonunderSections409Aor4999oftheCode.

(x)NeithertheCompanynortheCompanyJointVenturesisorhasbeenapartytoany"listedtransaction,"asdefinedinTreasuryRegulationSection1.6011-4(b)(2).

(xi)NeithertheCompanynortheCompanyJointVentureswillberequiredtoincludeanyitemofincomein,orexcludeanyitemofdeductionfrom,taxableincomeforanytaxableperiod(orportionthereof)endingaftertheClosingDateasaresultofany(A)changeinmethodofaccountingforataxableperiodendingonorpriortotheClosingDate,(B)"closingagreement"asdescribedinSection7121oftheCode(oranycorrespondingorsimilarprovisionofstate,localornon-U.S.law)executedonorpriortotheClosingDate,(C)anyuseofanimpropermethodofaccountingforataxableperiodendingonorpriortotheClosingDate,(D)installmentsaleoropentransactiondispositionmadeonorpriortotheClosingDate,(E)prepaidamountreceivedordeferredrevenueaccruedoutsidetheordinarycourseofbusinessonorpriortotheClosingDate,(F)electionbytheCompanyunderSection108(i)oftheCode(oranycorrespondingorsimilarprovisionofstate,localornon-U.S.law)or(G)electionbytheCompanyunderSection965(h)oftheCode.

(xii)TheCompanyisnotawareoftheexistenceofanyfact,orhastakenoragreedtotakeanyaction,thatwouldreasonablybeexpectedtopreventorimpedetheMergerfromqualifyingasa"reorganization"withinthemeaningofSection368(a)oftheCode.

ForpurposesofthisAgreement:

"Taxes "meansanyandallfederal,state,localandforeignnetincome,grossincome,grossreceipts,estimated,escheat,abandonedorunclaimedproperty,alternativeoradd-onminimum,sales,use,capitalstock,advalorem,transfer,franchise,windfall,profits,license,lease,goodsandservices,withholding,payroll,networth,employment,unemployment,workerscompensation,socialsecurity,disability,excise,severance,stamp,occupation,premium,realproperty,personalproperty,valueadded,environmental,customs,dutiesorothertaxesofanykindwhatsoeveranddenominatedbyanynamewhatsoever(togetherwithanyandallinterest,penalties,additionstotaxandadditionalamountsimposedwithrespectthereto)imposedbyanyGovernmentalAuthority.

"Tax Return "meansanyreturn,declaration,report,estimate,claimforrefund,orinformationreturnorstatementrelatingtoTaxes(includingtheschedulesattachedtheretoandanyamendmentsthereof)requiredtobefiledwithrespecttoTaxes.

(l) Employee Benefit Plans; ERISA.

(i)Section 3.01(l)(i) oftheCompanyDisclosureLettersetsforthatrueandcompletelistofeachmaterialCompanyEmployeeBenefitPlan.AlltheCompanyEmployeeBenefitPlanshavebeenestablished,maintained,fundedandadministeredinallmaterialrespectsincompliancewiththeirtermsandallapplicablerequirementsoflaw,includingtheEmployeeRetirementIncomeSecurityActof1974,asamended,andtherulesandregulationsthereunder("ERISA "),andtheCode.WithrespecttoeachmaterialCompanyEmployeeBenefitPlan,theCompanyhasmadeavailabletoParentcorrectandcompletecopies,includingamendments,ofthefollowing(totheextentapplicable):(A)themostrecentCompanyEmployeeBenefitPlandocument(includinganyrelatedtrustagreements),(B)thecurrentandmostrecentsummaryplandescriptions,(C)themostrecentlyfiledForm5500andschedulesthereto,(D)allInternalRevenueServiceorDepartmentofLabordetermination,opinion,notificationandadvisoryletters,(E)themostrecentactuarialreport,(F)allmaterialcorrespondencetoorfromanyGovernmentalAuthorityreceivedinthelastthreeyears,(G)alldiscriminationtestsforthemostrecentplanyear,and(H)allmaterialwrittenagreementsandcontractscurrentlyineffect,including(withoutlimitation)administrativeserviceagreements,groupannuitycontracts,andgroupinsurancecontracts.

16

Page 32: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(ii)Asusedherein:

(A)"Controlled Group Liability "meansanyandallliabilitiesandobligations(1)underTitleIVofERISA,(2)underSection302ofERISA,(3)underSections412and4971oftheCodeand(4)asaresultofafailuretocomplywiththecontinuationcoveragerequirementsofSection601etseq.ofERISAandSection4980BoftheCode;

(B)"Company Employee Benefit Plan "meansanyPlan(1)enteredinto,established,maintained,sponsored,contributedtoorrequiredtobecontributedtobytheCompanyandexistingonthedateofthisAgreementor(2)underorwithrespecttowhichtheCompanyhasorwouldreasonablybeexpectedtohaveanypresentorfutureactualorcontingentliabilitiesorobligations;

(C)"Plan "meansanyemployment,bonus,incentivecompensation,deferredcompensation,longtermincentive,pension,profitsharing,retirement,stockpurchase,stockoption,stockownership,stockappreciationrights,phantomstock,layoff,vacation,legalservices,cafeteria,life,health,medical,accident,disability,retention,severance,separation,termination,changeofcontrolorotherbenefitorcompensationplan,agreement,practice,policy,program,schemeorarrangementofanykind,whetherwrittenororal,includingany"employeebenefitplan"withinthemeaningofSection3(3)ofERISA,whetherornotsubjecttoERISA;and

(D)"Controlled Group "meansanypersonthat,atanyrelevanttime,couldbetreatedasasingleemployerwiththeCompanypursuantto4001(b)(1)ofERISAorSection414(b),(c),(m)or(o)oftheCode.

(iii)EachCompanyEmployeeBenefitPlanthatisintendedtomeettherequirementsofa"qualifiedplan"underSection401(a)oftheCodeandhasreceivedacurrentdeterminationletterfromtheInternalRevenueServicethatsuchCompanyEmployeeBenefitPlanissoqualified,andtotheCompany'sknowledge,nothinghasoccurredsincethedateofsuchdeterminationthatwouldadverselyaffectthequalificationofsuchCompanyEmployeeBenefitPlan.WithrespecttoeachCompanyEmployeeBenefitPlan,allmaterialcontributions(includingallemployercontributionsandemployeesalaryreductioncontributions),distributions,reimbursementsandpremiumpaymentsthatareduebytheCompanyhavebeenmadeandallmaterialcontributions,distributions,reimbursementsandpremiumpaymentsforanyperiodendingonorbeforetheClosingDatethatarenotyetduebytheCompanyhavebeenmadeorproperlyaccrued.

(iv)TheCompanyhasnoControlledGroupLiabilityasaconsequenceofatanytimebeingconsideredasingleemployerunderSection414oftheCodewithanyotherperson.NeithertheCompanynoranymemberoftheControlledGroupmaintains,sponsors,contributesto,hasanyobligationtocontributeto,orhasanycurrentorcontingentliabilityorobligationunderorwithrespectto(A)any"definedbenefitplan"asdefinedinSection3(35)ofERISAoranyotherplansubjecttothefundingrequirementsofSection412oftheCodeorSection302orTitleIVofERISA,(B)any"multiemployerplan"asdefinedinSection3(37)or4001(a)(3)ofERISA,(C)any"multipleemployerplan"asdescribedinSection413oftheCode,or(D)anyemployeebenefitplan,programorarrangementthatprovidesforpost-employmentorretireemedicalorlifeinsurancebenefits(otherthanhealthcontinuationcoveragerequiredbySection4980BoftheCodeforwhichthecoveredindividualpaysthefullcostofcoverage).TheCompanyhascompliedinallmaterialrespectswithallapplicablehealthcarecontinuationrequirementsinSection4980BoftheCodeandinERISA,andtheprovisionsofthePatientProtectionandAffordableCareAct.

(v)ExceptaswouldnotresultinmaterialliabilitytotheCompany,(A)noneoftheCompanyoranycurrentorformeremployee,directororofficerofanyofthem,nor,totheknowledgeoftheCompany,anyother"partyininterest"or"disqualifiedperson"(assuchtermsaredefinedinERISAandtheCode)withrespecttoaCompanyEmployeeBenefitPlanhas

17

Page 33: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

engagedinanon-exempt"prohibitedtransaction"withinthemeaningofSection4975oftheCodeorSection406ofERISA;(B)therehasnotbeenabreachoffiduciaryduty(asdeterminedunderERISA)byanyoftheCompanyoranycurrentorformeremployee,directororofficerofanyofthem,nor,totheknowledgeoftheCompany,anyotherpersonwithrespecttoanyCompanyEmployeeBenefitPlan;and(C)noaction,investigation,audit,suit,proceeding,hearingorclaimwithrespecttoanyCompanyEmployeeBenefitPlan(otherthanroutineclaimsforbenefits)ispendingor,totheknowledgeoftheCompany,threatened.

(vi)Section 3.01(l)(vi) oftheCompanyDisclosureLetteridentifieseachCompanyEmployeeBenefitPlanthatprovides,upontheoccurrenceofthetransactionscontemplatedbythisAgreement,eitheraloneorupontheoccurrenceofanyadditionalorsubsequentevents,for(A)anaccelerationofthetimeoffunding,paymentoforvestingin,oranyincreaseintheamountof,compensationorbenefitsdueanycurrentorformeremployee,directororofficeroftheCompany,(B)anyforgivenessofindebtednessorobligationtofundcompensationorbenefitswithrespecttoanysuchemployee,directororofficeror(C)anentitlementofanysuchemployee,directororofficertoseverancepay,unemploymentcompensationoranyotherpaymentorotherbenefit.

(vii)NoCompanyEmployeeBenefitPlanhasfailedtocomplywithSection409AoftheCodeinamannerthatwouldresultinanytax,interestorpenaltythereunder.

(viii)TheCompanyhasnomaterialliabilitybyreasonofanindividualwhoperformsorperformedservicesfortheCompanyinanycapacitynotbeingtreatedasanemployeeforanypurposesincluding,withoutlimitation,forTaxwithholdingpurposes,orbeingimproperlyexcludedfromparticipatinginaCompanyEmployeeBenefitPlan.

(ix)ExceptassetforthonSection 3.01(l) oftheCompanyDisclosureLetter,nomaterialCompanyEmployeeBenefitPlanismaintainedoutsidethejurisdictionoftheUnitedStates,orcoversanyemployeeresidingorworkingoutsidetheUnitedStates(anysuchBenefitPlan,a"Foreign Benefit Plan ").WithrespecttoanymaterialForeignBenefitPlansandwithoutlimitingtherepresentationssetforthaboveinthisSection 3.01(l) ,(A)allForeignBenefitPlanshavebeenestablished,maintainedandadministeredincomplianceinallmaterialrespectswiththeirtermsandallapplicablelawsofanycontrollingGovernmentalAuthority,(B)allForeignBenefitPlansthatarerequiredtobefundedarefullyfunded,andwithrespecttoallotherForeignBenefitPlans,adequatereservesthereforhavebeenestablishedontheCompany'sfinancialstatements,and(C)nomaterialliabilityorobligationoftheCompanyexistswithrespecttosuchForeignBenefitPlansthathasnotbeendisclosedonSection 3.01(l) oftheCompanyDisclosureLetter.

(m) Labor Matters. TheCompanyisnotapartyto,orboundbyanycollectivebargainingagreementorotherlaboragreementwithanyunionorlabororganization.TotheknowledgeoftheCompany,therearenoactivitiesorproceedingsbyanyunionorlabororganizationtoorganizeanyemployeesoftheCompany,andnosuchactivitiesorproceedingshaveoccurredwithinthepasttwo(2)years.SinceJanuary1,2018throughthedateofthisAgreementtherehasbeennoworkstoppage,strike,slowdown,lockoutoranyothermateriallabordisputebyoraffectingemployeesoftheCompanyand,totheknowledgeoftheCompany,nosuchactionhasbeenthreatened.SinceJanuary1,2017,theCompanyhasnotengagedinany"plantclosing"or"masslayoff,"asdefinedintheWorkerAdjustmentRetrainingandNotificationActoranycomparablestateorlocallaw.

(n) Environmental Matters.

(i)Exceptashasnotbeen,andwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect:

(A)sinceJanuary1,2017,theCompanyhasbeenandisincompliancewithallapplicableEnvironmentalLaws,includingpossessingandcomplyingwiththetermsofallPermitsandRegistrationsrequiredfortheiroperationsunderapplicableEnvironmentalLaws;

18

Page 34: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(B)thereisnopendingor,totheknowledgeoftheCompany,threatenedProceedingpursuanttoorrelatingtoanyEnvironmentalLawagainsttheCompany.TheCompanyhasnotreceivednoticeorarequestforinformationfromanyperson,includinganyGovernmentalAuthority,allegingthattheCompanyhasbeenorisinactualorpotentialviolationofanyapplicableEnvironmentalLaworotherwisemaybeliableunderanyapplicableEnvironmentalLaw,whichviolationorliabilityisunresolved.TheCompanyisnotapartyorsubjecttoanyorder,judgment,decree,settlement,injunctionorrulepursuanttoEnvironmentalLaw;

(C)therehavebeennoReleasesofHazardousMaterialsat,on,underorfromanylocationthathaveresultedinorarereasonablylikelytoresultinanobligationbytheCompany,whichhasnotbeensatisfiedasofthedateofthisAgreement,toremediatesuchReleasespursuanttoapplicableEnvironmentalLaworotherwisehaveresultedinorarereasonablylikelytoresultinliabilitytotheCompanypursuanttoapplicableEnvironmentalLawwithrespecttosuchReleases;and

(D)theCompanyhasnotenteredintoanywrittenagreementorincurredanylegalobligationthatmayrequireittopayto,reimburse,orindemnifyanyotherpersonfromoragainstliabilitiesorcostsarisinginconnectionwithorpursuanttoEnvironmentalLaw,orrelatingtothegeneration,manufacture,use,transportationordisposaloforexposuretoHazardousMaterials.

(ii)TheCompanyhasdeliveredorotherwisemadeavailableforinspectiontoParentcopiesofanyreports,investigations,audits,assessments(includingPhaseIorIIenvironmentalsiteassessments),studiesorothermaterialdocumentsinthepossessionoforreasonablyavailabletotheCompanypertainingto:(i)anyunresolvedclaimsarisingunderorrelatedtoanyEnvironmentalLaw;(ii)anyHazardousMaterialsin,on,beneathoradjacenttoanypropertycurrentlyorformerlyowned,operatedorleasedbytheCompany;or(iii)theCompany'scompliancewithapplicableEnvironmentalLaws.

(iii)AsusedinthisSection 3.01(n) :

(A)"Environmental Laws "meansapplicabledomesticfederal,stateandlocallaws,principlesofcommonlaw,statutes,regulations,ordinancesandordersanddeterminationstotheextentbindingontheCompany,relatingtopollution,theenvironment(includingnaturalresources,indoorandambientair,surfacewater,groundwater,landsurfaceorsubsurfacestrata),protectionofhumanhealthandsafetyasitrelatestotheenvironment,includinganyrelatingtothepresenceorReleaseofHazardousMaterials,orotherwiserelatingtothemanufacture,processing,distribution,use,treatment,storage,disposal,transportorhandlingof,orexposureto,HazardousMaterials;

(B)"Hazardous Materials "means(a)anypetroleumorpetroleumproducts,radioactivematerials,asbestosinanyformthatisorcouldbecomefriable,ureaformaldehydefoaminsulation,andpolychlorinatedbiphenyls;and(b)anychemical,material,substanceorwastethatisprohibited,limitedorregulated,ormaygiverisetoliabilityorstandardsofconduct,underanyapplicableEnvironmentalLaw;and

(C)"Release "meansanyspill,emission,leaking,pumping,pouring,emptying,escaping,dumping,injection,deposit,disposal,discharge,dispersal,leachingormigrationintotheenvironment,includingtheatmosphere,soil,surfacewater,groundwaterorproperty.

(o) Intellectual Property.

(i)Section 3.01(o)(i) oftheCompanyDisclosureLettercontainsacompleteandaccuratelistofallappliedfororregisteredIntellectualPropertyrights(includingInternetdomainnames)ownedby,orexclusivelylicensedto,theCompany("Scheduled IP "),including,whererelevant,theownerofrecord,theapplicablejurisdiction,theregistrationnumber,applicationnumberor

19

Page 35: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

issuancenumber,andthedateofapplication,issuanceand/orfiling.AllScheduledIPissubsistingand,totheknowledgeoftheCompany,validandenforceable(otherthanapplicationsrelatedthereto).ExceptasnotedinSection 3.01(o)(i) oftheCompanyDisclosureLetter,theCompanyexclusivelyownsallScheduledIPfreeandclearofallLiens,exceptPermittedLiens.

(ii)TotheknowledgeoftheCompany,theCompanyownsallright,titleandinterestinandto,orhavesufficientrightstousepursuanttovalidandenforceablewrittenlicenses,allIntellectualPropertyusedintheoperationoftheCompany'sbusinessascurrentlyconducted(includingallScheduledIP)(collectively,the"Company Intellectual Property "),freeandclearofallLiens,exceptPermittedLiens;exceptashasnothadandwouldnotreasonablybeexpectedtohave,aCompanyMaterialAdverseEffect,andprovidedthattheforegoingshallnotbeconstruedasarepresentationofnon-infringement.TotheknowledgeoftheCompany,theCompanyhastakenreasonableactionstomaintainandprotecttheCompanyIntellectualPropertyownedbytheCompany,includingtheconfidentialityandvalueofitstradesecretsandotherconfidentialinformation,and,asapplicable,requiringpersons,includingcurrentandformeremployees,consultantsandcontractors,whohavedevelopedmaterialsoftwareorothermaterialIntellectualPropertyfortheCompanytoexecutewrittenagreementspursuanttowhichsuchperson(A)assignsownershiptotheCompanyofallsuchIntellectualPropertydevelopedfortheCompanyduringthecourseofandwithinthescopeofsuchperson'semploymentorotherengagementwiththeCompany(excepttotheextentprohibitedbylaw),and(B)isboundtoprotectandmaintaintheconfidentialityoftheconfidentialinformationoftheCompany;except,ineachcase,ashasnothadandwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect.

(iii)ExceptassetforthonSection 3.01(o)(iii) oftheCompanyDisclosureLetter,(A)nowrittenclaims,actionsorotherformalproceedingsarepending,andtotheknowledgeoftheCompany,nonehavebeenassertedinwritingsinceJanuary1,2017againsttheCompany,and,totheknowledgeoftheCompany,nonehavebeenthreatenedinwriting,byanypersonthat(1)allegethattheCompanyortheconductofitsbusinesshasinfringedormisappropriatedtheIntellectualPropertyrightsofanyperson,or(2)contesttheuse,ownership,validity,orenforceability,ofanyCompanyIntellectualPropertyownedbytheCompany;(B)totheknowledgeoftheCompany,theCompanyhasnot,norhastheconductofthebusinessoftheCompany,sinceJanuary1,2017,infringedormisappropriatedanyIntellectualPropertyrightsofanyperson,and(C)totheknowledgeoftheCompany,nothirdpartyhas,sinceJanuary1,2017,infringed,misappropriatedorotherwiseviolatedanyCompanyIntellectualPropertyownedbytheCompany;except,withrespecttoeachofclauses(B)and(C),ashasnothad,andwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect.

(iv)Asusedherein,"Intellectual Property "meansallintellectualpropertyandallcorrespondingrightsthroughouttheworld,including(A)alltrademarks,servicemarks,tradedress,logos,tradenames,Internetdomainnamesandallotherindiciaoforigin,togetherwithallapplications,registrationsandrenewalsandgoodwillassociatedwithanyoftheforegoing;(B)allpatents,patentapplicationsandpatentdisclosures,togetherwithallreissues,continuations,continuations-in-part,revisions,divisions,extensions,andreexaminationsinconnectiontherewithandcounterpartsthereof;(C)worksofauthorship(whetherornotcopyrightable),copyrightsandallapplications,registrationsandrenewalsassociatedtherewithandalldata,databasesanddatabaserights;(D)tradesecrets,know-howandproprietaryandotherconfidentialinformation,includinginventions(whetherornotpatentableorreducedtopractice),improvements,technologies,processes,methods,protocols,specifications,plans,techniques,technicaldata,customerandsupplierlists,pricingandcostinformationandbusinessandmarketingplans,reportsandproposals;(E)software(includingsourcecode,executablecode,systems,tools,data,databases,applications,firmwareandrelateddocumentation)and(F)copiesandtangibleembodimentsordescriptionsofanyoftheforegoing(inwhateverformormedium).

20

Page 36: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(v)Exceptforlicensesofcommercialoff-the-shelfsoftware,andexceptpursuanttothelicensesofIntellectualPropertylistedinSection 3.01(o)(v) oftheCompanyDisclosureLetter,theCompanyisnotrequiredorobligatedtomakeanypaymentsbywayofroyaltiesorfeestoanyownerorlicensorofanyCompanyIntellectualPropertywithrespecttotheusethereoforinconnectionwiththeconductofthebusinessoftheCompanyascurrentlyconducted;providedthattheforegoingshallnotbeconstruedasarepresentationofnon-infringement.

(vi)EachofthelicensesofIntellectualPropertythatisincludedintheCompanyIntellectualProperty("Intellectual Property Licenses ")isinfullforceandeffectandisthelegal,validandbindingobligationoftheCompany,enforceableagainstitinaccordancewithitsterms,except,ineachcase,asenforcementmaybelimitedbyapplicablebankruptcy,insolvency,reorganization,moratoriumorothersimilarlawsrelatingtocreditors'rightsgenerally,andgeneralequitableprinciples.TheCompanyisnotindefaultofanymaterialprovisionofanyIntellectualPropertyLicense,nor,totheknowledgeoftheCompany,isanyotherpartytoanyIntellectualPropertyLicenseindefaultthereunder,andnoeventhasoccurredthatwiththelapseoftimeorthegivingofnoticeorbothwouldconstituteadefaultthereunder,exceptaswouldnotreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect.NopartytoanyoftheIntellectualPropertyLicenseshasexercisedanyterminationrightswithrespectthereto.

(p) Company Systems.

(i)Thecomputersystems,includingthesoftware,systems,code,websites,firmware,hardware,networks,interfaces,applications,platforms,otherinformationtechnologyequipment,assetsandinfrastructureandrelatedsystems(the"Systems ")ownedorleasedbyorlicensedtotheCompany(collectively,the"Company Systems ")intheconductofitsbusinessaresufficientfortheimmediateneedsoftheCompanyinallmaterialrespects.SinceJanuary1,2018,therehavebeennofailures,breakdowns,unauthorizedaccess,continuedsubstandardperformanceorotheradverseeventsaffectinganyCompanySystemsthathavecausedorwouldreasonablybeexpectedtoresultinanysubstantialdisruptionorinterruptioninortotheuseofsuchCompanySystemsortheconductofthebusinessoftheCompany;exceptashasnothad,andwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect.TheCompanymaintainsreasonablesecurity,disasterrecoveryandbusinesscontinuityplans,proceduresandfacilities,whichcomplyinallmaterialrespectswithDataPrivacyandSecurityLaws,andactsincompliancetherewith;exceptashasnothad,andwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect.Theexecution,deliveryandperformanceofthisAgreementbytheCompanyandtheconsummationbytheCompanyofthetransactionscontemplatedherebyshallnot(A)immediatelyaftertheEffectiveTimeviolateanyPrivacyPoliciesortherightoftheCompanytousePersonalInformationor(B)impairtheright,titleorinterestoftheCompanyinortoanyCompanySystemsorCompanyIntellectualPropertyownedorexclusivelyin-licensedbytheCompany,andallCompanySystemsandCompanyIntellectualPropertyshallbeownedoravailableforusebytheCompanyimmediatelyaftertheEffectiveTimeontermsandconditionsidenticalinallmaterialrespectstothoseunderwhichtheCompanyownedorusedtheCompanySystemsandCompanyIntellectualPropertyimmediatelypriortotheEffectiveTime.

(ii)Exceptashasnothad,orwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect,theCompanyandeachCompanyJointVenture,is,andsinceJanuary1,2017hasbeen,incomplianceinallmaterialrespectswith(A)allDataPrivacyandSecurityLaws,and(B)anyContracts,privacypolicies,programsorothernoticesthatconcerntheCompany'soranyoftheCompanyJointVentures'collectionoruseofanyPersonalInformationofanindividual.SinceJanuary1,2017,(A)totheknowledgeoftheCompany,therehavenotbeenanyincidentsofmaterial(1)DataSecurityBreaches,(2)notificationstoanyindividual,entityorGovernmentalAuthorityregardingaDataSecurity

21

Page 37: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Breach,(3)complaintsornoticestotheCompany,or(4)audits,proceedingsorinvestigationsconductedorclaimsassertedbyanyotherperson(includinganyGovernmentalAuthority)regardingtheunauthorizedorillegalcollectionoruse(includingthestorage,display,transfer,disseminationandotherdisposition)ofanyPersonalInformationofanindividual,oranymaterialviolationofapplicablelaw,bytheCompany,and(B)nosuchclaimispendingor,totheknowledgeoftheCompany,threatened,that,inthecaseof(A)or(B),individuallyorintheaggregate,hashadorwouldreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect.

(q) Real Property.

(i)TheCompanydoesnotownanyrealpropertyandtheCompanyisnotapartytoanyagreementoroptiontopurchaseanyrealpropertyorinteresttherein.

(ii)Section 3.01(q)(ii) oftheCompanyDisclosureLettersetsforththeaddressofeachLeasedRealProperty,andatrueandcompletelistofallLeasesforeachsuchLeasedRealProperty(includingthedateandnameofthepartiestosuchLeasedocument).TheCompanyhasdeliveredtoParentatrueandcompletecopyofeachLeaserelatingtosuchLeasedRealProperty.

(iii)TheLeasedRealPropertyidentifiedinSection 3.01(q)(ii) oftheCompanyDisclosureLettercomprisesalloftherealpropertyusedinthebusinessoftheCompany.

(iv)(A)EachLeaseunderwhichtheCompanyusesoroccupiesorhastherighttouseoroccupyanyLeasedRealPropertyidentifiedinSection 3.01(q)(ii) oftheCompanyDisclosureLetter,islegal,valid,binding,enforceableandinfullforceandeffect,except,ineachcase,asenforcementmaybelimitedbyapplicablebankruptcy,insolvency,reorganization,moratoriumorothersimilarlawsrelatingtocreditors'rightsgenerally,andgeneralequitableprinciples,(B)theCompanyisnotcurrentlysubleasing,licensingorotherwisegrantinganypersontherighttouseoroccupysuchLeasedRealPropertyoranyportionthereof,(C)theCompanyhasnotcollaterallyassignedorgrantedanyothersecurityinterestinsuchLeaseoranyinterestthereinand(D)nouncureddefaultonthepartoftheCompanyor,totheknowledgeoftheCompany,thelandlordthereunder,existsunderanyLeaseofsuchLeasedRealProperty,andnoeventhasoccurredorcircumstanceexistswhich,withthegivingofnotice,thepassageoftime,orboth,wouldconstituteamaterialbreachordefaultunderaLease.

(v)ExceptasdisclosedinSection 3.01(q)(v) oftheCompanyDisclosureLetter,allbuildings,structures,fixtures,andequipmentincludedintheLeasedRealPropertyareingoodconditionandrepairsufficientfortheoperationofthebusinessoftheCompany,exceptaswouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect.TotheknowledgeoftheCompany,theLeasedRealPropertyisinmaterialcompliancewithallapplicablebuilding,zoning,subdivision,healthandsafetyandotherlanduselaws,includingTheAmericanswithDisabilitiesActof1990,asamended,andsinceJanuary1,2017,theCompanyhasnotreceivedwrittennoticeofanyviolationofsuchlaws.

(r) Vote Required. TheaffirmativevoteoftheholdersofamajorityoftheoutstandingsharesofCompanyCommonStockentitledtovoteontheadoptionofthisAgreementistheonlyvoteofholdersofsecuritiesoftheCompanywhichisrequiredtoadoptthisAgreement,toapprovetheMergerandtoconsummatetheothertransactionscontemplatedhereby(the"Company Stockholder Approval ").

(s) Personal Property. Exceptaswouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect,theCompanyhasgoodandmarketabletitleto,orvalidleaseholdinterestsinorvalidrightsundercontractstouse,alloftheirpropertyandassetsreflectedonthemostrecentbalancesheetincludedintheCompanyFinancialStatementsoracquiredafterthedateofsuchbalancesheetandpriortothedateofthisAgreement,freeandclearofallLiens,exceptPermittedLiens,exceptashavebeendisposedofafterthedateofsuchbalancesheetintheordinarycourseofbusiness.

22

Page 38: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(t) Opinion of Financial Advisor. TheCompanyBoardhasreceivedtheopinion(the"Fairness Opinion "),datedasofthedateofthisAgreement,ofGuggenheimSecurities,LLC(the"Company Financial Advisor ")that,asofthedateofsuchFairnessOpinionandbasedonthevariousassumptions,qualificationsandlimitationscontainedtherein,theExchangeRatioisfair,fromafinancialpointofview,totheholdersoftheCompanyCommonStock(excludingParentanditsaffiliates).AsignedcopyofsuchFairnessOpinionwillbemadeavailabletoParentforinformationalpurposesonlypromptlyfollowingreceiptofsuchwrittenopinionfromtheCompanyFinancialAdvisorfollowingthedateofthisAgreement.

(u) Takeover Laws Inapplicable. AssumingthattherepresentationsandwarrantiesofParentandMergerSubsetforthinSection 3.02(m) areaccurate,theCompanyhastakenallactionrequiredtobetakenbyit,includinganyactionsrequiredtobetakenbytheCompanyBoard,inordertorendertherestrictionson"businesscombinations"(asdefinedinSection203oftheDGCL)inapplicabletotheexecution,deliveryandperformanceofthisAgreement,theVotingAgreements,theMergerandtheothertransactionscontemplatedbythisAgreement,includingtheVotingAgreements.No"fairprice,""moratorium,""controlshareacquisition"orothersimilaranti-takeoverstatuteorregulationoranyanti-takeoverprovisionintheCompany'scertificateofincorporationorbylaws,orpursuanttoanylaworregulationtowhichtheCompanyissubject,is,orattheEffectiveTimewillbe,applicabletothisAgreement,theMergerortheothertransactionscontemplatedhereby.TheCompanydoesnothaveineffectanystockholderrightsplan,"poisonpill"orsimilarplanorarrangement.

(v) Insurance. Exceptforfailurestomaintaininsuranceorself-insurancethat,individuallyorintheaggregate,havenothadandwouldnotreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect,(A)sinceJanuary1,2017,theCompanyhasbeencontinuouslyinsuredwithfinanciallyresponsibleinsurersorhasself-insured,ineachcaseincommerciallyreasonableamounts,(B)allofthematerialinsurancepoliciesoftheCompanyareinfullforceandeffectand(C)theCompanyhasnotreceivedanynoticeofanypendingor,totheCompany'sknowledge,threatenedcancellation,terminationorpremiumincreasewithrespecttoanyinsurancepolicymaintainedbytheCompanyotherthanasiscustomaryinconnectionwithrenewalsofexistinginsurancepolicies.TheCompanyisincomplianceinallmaterialrespectswiththetermsofsuchpoliciesandbondsand,totheknowledgeoftheCompany,noeventhasoccurredwhich,withnoticeorlapseoftime,wouldconstituteabreachordefault,orpermitterminationormodification,underanysuchpolicyorbond,andatnotimeduringthepastthreeyearshastheCompanybeendeniedanyinsuranceorindemnitybondcoveragewhichithasrequested.TheCompanyhasdeliveredorotherwisecausedtobedeliveredtoParentpriortothedateofthisAgreementtrueandcompletecopiesofallmaterialinsurancepolicies,programsandarrangementsandallsuchpolicies,programsandarrangementsareinfullforceandeffect.

(w) Company Material Contracts .

(i)ExceptforthisAgreementandexceptforContractsfiledasexhibitstotheCompanySECReports,Section 3.01(w) oftheCompanyDisclosureLettercontainsacompleteandcorrectlist,asofthedateofthisAgreement,ofthefollowingContractstowhichanyoftheCompany,oranyoftheCompanyJointVenturesisaparty,bywhichanyofthemisboundortowhichanyoftheirrespectiveassetsorpropertiesissubject(eachsuchContract,togetherwitheachContractfiledasanexhibittotheCompanySECReports,a"Company Material Contract "):

(A)eachContractthatwouldbea"materialcontract"(assuchtermisdefinedinItem601(b)(10)ofRegulationS-KoftheSEC)buthasnotbeenfiledasanexhibittotheCompanySECReports;

(B)eachContractotherthanCompanyEmployeeBenefitPlanslistedonSection 3.01(l)(i) oftheCompanyDisclosureLetter,that(1)limitsinanymaterialrespecteitherthetypeofbusinessinwhichtheCompanyoranyCompanyJointVenture(or,aftertheEffectiveTime,Parentoritssubsidiaries)oranyoftheirrespectiveaffiliatesmayengageor

23

Page 39: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

themannerorgeographicareainwhichanyofthemmaysoengageinanybusiness;(2)obligatestheCompanyoranyCompanyJointVenturetoconductbusinessonanexclusiveorpreferentialbasiswithanythirdparty;(3)containsaput,callorsimilarrightpursuanttowhichtheCompanycouldberequiredtopurchaseorsell,asapplicable,anyequityinterestsofanypersonorassets;(4)grants"mostfavorednation"statusofanytypebytheCompanytoanyperson;(5)involvesmorethan$250,000inthepastyearorisreasonablyexpectedtoinvolvemorethan$500,000withinoneyearofthedateofthisAgreement,except,inthecaseofthisclause(5),(i)allpurchaseordersorinvoicesor(ii)ContractsthatcannotbeterminatedbytheCompanyonlessthanninety(90)days'noticewithoutmaterialpaymentorpenalty,ineachcasethatinvolvesmorethan$250,000inthepastyearorisreasonablyexpectedtoinvolvemorethan$1,000,000intheaggregate;(6)includesanearn-outorothersimilarprovision;(7)betweentheCompanyoranyCompanyJointVenture,ontheonehand,andanydirector,officeroraffiliateofanyoftheforegoingoranyoftheirrespective"associates"or"immediatefamily"members(assuchtermsaredefinedinRule12b-2andRule16a-1oftheExchangeAct),ontheotherhand,includinganyContractpursuanttowhichtheCompanyoranyCompanyJointVenturehasanobligationtoindemnifyanysuchperson;(8)pursuanttowhich(x)theCompanyhasgrantedtoanypersonanylicenseorotherright,titleorinterest(includinganyassignmentorcovenantnottosue)inortoanyIntellectualPropertyrightsthatarematerialtoandownedbytheCompany,otherthanpursuanttoContractsgrantingnon-exclusiverightsthataresubstantiallyintheformofoneoftheCompany'sstandardContracts(whichhavebeenmadeavailabletoParent),clinicaltrialagreements,materialtransferagreements,andnon-disclosureagreementsthatareenteredintointheordinarycourseofbusiness,or(y)athirdpartyhasgrantedtotheCompanyanylicenseorotherright,titleorinterest(includinganyassignmentorcovenantnottosue)inortoanyIntellectualPropertyrightsthatarematerialtotheCompany,otherthannon-exclusivelicensesofsoftware(includingsoftwarelicensedthroughsoftwareasaservicearrangements)thataregenerallycommerciallyavailableornon-exclusivelicensesgrantedtotheCompanyasanendusercustomerintheordinarycourseofbusinessconsistentwithpastpractice;(9)involvesanymaterialresearchordevelopmentactivityconductedby,fororwiththeCompanythatismaterialtotheCompany,includinganymaterialjointdevelopmentagreement;or(10)isa"single-source"supplyContract,pursuanttowhichgoodsormaterialsaresuppliedtotheCompanyfromanexclusivesourceandisincorporatedinCompanyproductsoronwhichtheCompanyismateriallydependentthatcannotbereplacedfromothersourcesoncommerciallyreasonabletermsandinareasonablytimelymanner;

(C)eachContract,excludingLeases,that(1)hasanaggregateprincipalamount,orprovidesforanaggregateobligation,inexcessof$250,000(I)evidencingindebtednessforborrowedmoneyoftheCompanytoanythirdparty,(II)guaranteeinganysuchindebtednessofathirdparty,(III)containingacovenantrestrictingthepaymentofdividendsordistributionsinrespectofthecapitalstockoftheCompanyortheCompanyJointVentures,prohibitingthepledgingofcapitalstockoftheCompanyortheCompanyJointVentures,(IV)obligatingtheCompanytomakeanycapitalcommitmentorcapitalexpenditure,or(2)hastheeconomiceffectofanyoftheitemssetforthinsubclause(1)above;

(D)anystockholders,investorrights,registrationrightsorsimilaragreementorarrangement;

(E)anymaterialcollectivebargainingagreementorothermaterialContractwithanylaborunion;

(F)anypartnershiporjointventurethatismaterialtotheCompany;and

(G)eachContractwithanyGovernmentalAuthority(otherthanclinicaltrialagreements).

24

Page 40: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(ii)TheCompanyhasprovidedtoParentpriortothedateofthisAgreementatrueandcompletedcopyofeachCompanyMaterialContractasineffectonthedateofthisAgreement.NeithertheCompanynoranyCompanyJointVentureisinmaterialbreachofordefaultunderthetermsofanyCompanyMaterialContractandnoeventhasoccurredthat(withorwithoutnoticeorlapseoftimeorboth)wouldreasonablybeexpectedtoresultinabreachordefaultunderanyCompanyMaterialContractwheresuchbreachordefaultwouldreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect.TotheknowledgeoftheCompany,nootherpartytoanyCompanyMaterialContractisinbreachofordefaultunderthetermsofanyCompanyMaterialContractwheresuchbreachordefaulthashad,orwouldreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect.EachCompanyMaterialContractisavalidandbindingobligationoftheCompanyortheCompanyJointVenturewhichispartytheretoand,totheknowledgeoftheCompany,ofeachotherpartythereto,andisinfullforceandeffect,exceptthatsuchenforcementmaybesubjecttoapplicablebankruptcy,insolvency,reorganization,moratoriumorothersimilarlawsrelatingtocreditors'rightsgenerally,andgeneralequitableprinciples.

(x) Brokers. ExceptfortheCompanyFinancialAdvisor,thereisnoinvestmentbanker,broker,finder,financialadvisororotherpersonthathasbeenretainedbyorisauthorizedtoactonbehalfoftheCompanythatisentitledtoanyfeefromtheCompanyinconnectionwiththeconsummationofthetransactionscontemplatedbythisAgreement.TheCompanyhasprovidedtoParentonorpriortothedateofthisAgreementeachletterofengagemententeredintowiththeCompanyFinancialAdvisorinconnectionwiththetransactionscontemplatedbythisAgreement.

(y) Product Warranties. TheCompanyhasnotmadeanymaterialexpresswarrantiesorguaranteeswithrespecttotheproductsmarketedand/orsoldbyit,otherthanintheordinarycourseofbusiness.Exceptaswouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect,eachproductsoldordeliveredbytheCompanyhasbeeninconformitywithallapplicablematerialcontractualcommitmentsandallexpressandimpliedwarranties.Exceptaswouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect,alloftheCompany'sproductshavecomplied,andareexpectedtocontinuetocomplywithapplicablespecificationsandgovernmentsafetystandards,andhavebeen,andareexpectedtobe,substantiallyfreefromdeficienciesordefects.

(z) Compliance with Certain Laws

(i)Exceptaswouldnot,individuallyorintheaggregate,reasonablybeexpectedtohaveaCompanyMaterialAdverseEffect,sinceJanuary1,2014,noneoftheCompanyoranyofitsrespectiveofficers,directors,employeesor,totheknowledgeoftheCompany,agents,distributors,consultantsorindependentcontractors(totheextentactingonbehalfoftheCompany)hasdirectlyorindirectlymade,promised,orauthorizedorofferedtomake,promiseorauthorizeanycontribution,gift,bribe,rebate,payoff,influencepayment,kickbackorotherpaymenttoanyperson,privateorpublic,regardlessofwhatform,whetherinmoney,propertyorservices,inviolationof,totheextentapplicable,theU.S.ForeignCorruptPracticesActof1977,asamended,theU.S.TravelAct,applicablelawsimplementingtheOECDConventiononCombatingBriberyofForeignPublicOfficialsinInternationalBusinessTransactionsoranyotherapplicablelaw,ruleorregulationrelatingtoanti-corruptionoranti-bribery(collectively,the"Anti-Corruption Laws ").Exceptaswouldnot,individuallyorintheaggregate,reasonablybeexpectedtohaveaCompanyMaterialAdverseEffect,sinceJanuary1,2014,neithertheCompany,noranyofitsrespectiveofficers,directors,employeesor,totheknowledgeoftheCompany,agents,distributors,consultantsorindependentcontractors(totheextentactingonbehalfoftheCompany)hasdirectlyorindirectlyofferedorgivenanythingofvaluecorruptlyto(A)anygovernmentofficial,politicalpartyorofficialthereoforanycandidateforpoliticalofficeor(B)anyperson,whileknowingthatalloraportionofsuchthingofvaluewillbeoffered,givenorpromised,directlyor

25

Page 41: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

indirectly,toanyofficial,toanypoliticalpartyorofficialthereofortoanycandidateforpoliticalofficeforthepurposeofthefollowing:(I)influencinganyactordecisionofsuchgovernmentofficial,politicalparty,partyofficialorcandidateinhis,heroritsofficialcapacity,includinginfluencingsuchgovernmentofficial,politicalparty,partyofficialorcandidatetodooromittodoanyactinviolationofthelawfuldutyofsuchgovernmentofficial,politicalparty,partyofficialorcandidate,orsecuringanyimproperadvantageor(II)inducingsuchgovernmentofficial,politicalparty,partyofficialorcandidatetousehis,heroritsinfluencewithaGovernmentalAuthorityorinstrumentalitythereoftoaffectorinfluenceanyactordecisionofsuchGovernmentalAuthorityorinstrumentality,inordertoassisttheCompanyinobtainingorretainingbusinessfororwith,ordirectingbusinessto,anyperson.

(ii)Exceptaswouldnot,individuallyorintheaggregate,reasonablybeexpectedtohaveaCompanyMaterialAdverseEffect,sinceJanuary1,2017,neithertheCompany,(A)isorhasbeenthesubjectofanunresolvedclaimorallegationrelatingto(I)anypotentialviolationoftheAnti-CorruptionLawsor(II)anypotentiallyunlawfulcontribution,gift,bribe,rebate,payoff,influencepayment,kickbackorotherpaymentortheprovisionofanythingofvalue,directlyorindirectly,toagovernmentofficial,toanypoliticalpartyorofficialthereofortoanycandidateforpoliticaloffice,or(B)hasreceivedanynoticeorothercommunication(inwriting)from,ormadeavoluntarydisclosureto,anyGovernmentalAuthorityregardinganyactual,allegedorpotentialviolationof,orfailuretocomplywith,anyapplicableAnti-CorruptionLaws.

(iii)TheCompanymaintainsasystemorsystemsofinternalcontrolsreasonablydesignedto(A)ensurecompliancewithapplicableAnti-CorruptionLawsand(B)preventanddetectviolationsofapplicableAnti-CorruptionLaws.

(aa) FDA and Related Matters .

(i)TheCompanypossessallRegistrationsrequiredtoconductitsbusinessesascurrentlyconducted,andSection 3.01(aa)(i) oftheCompanyDisclosureLettersetsforthatrue,completeandcorrectlistasofthedateofthisAgreementofsuchmaterialRegistrations.EachsuchRegistrationisvalidandsubsistinginfullforceandeffect.TotheknowledgeoftheCompany,asofthedateofthisAgreement,neithertheUnitedStatesFoodandDrugAdministration(the"FDA ")noranycomparableRegulatoryAuthorityorGovernmentalAuthorityisconsideringlimiting,suspendingorrevokinganysuchRegistrationorchangingthemarketingclassificationorlabelingoftheproductsoftheCompany.TotheknowledgeoftheCompany,thereisnofalseormisleadinginformationormaterialomissioninanyproductapplicationorothersubmissiontotheFDAoranycomparableRegulatoryAuthorityorGovernmentalAuthority.TheCompanyisincompliancewith,andhasfulfilledandperformedinallmaterialrespectsitsobligationsunder,eachsuchRegistration,and,asofthedateofthisAgreement,totheknowledgeoftheCompany,noeventhasoccurredorconditionorstateoffactsexistswhichwouldconstituteabreachordefaultorwouldcauserevocationorterminationofanysuchRegistration.TotheknowledgeoftheCompany,anythirdpersonthatisamanufacturerorcontractorfortheCompanyisincompliancewithallRegistrationsinsofarastheypertaintothemanufactureofproductcomponentsorproductsfortheCompany.

(ii)Allproductsdeveloped,tested,investigated,produced,manufactured,labeled,distributed,marketed,stored,sold,importedorexportedbyoronbehalfoftheCompanythataresubjecttothejurisdictionoftheFDAoranycomparableRegulatoryAuthorityorGovernmentalAuthorityhavebeenandarebeingdeveloped,tested,investigated,produced,manufactured,labeled,distributed,marketed,stored,sold,importedandexported,asapplicable,inallmaterialrespectsincompliancewithFDALaws,anycomparablelawsenforcedbyanyotherRegulatoryAuthorityorGovernmentalAuthoritythathasjurisdictionovertheoperationsoftheCompany,oranyotherapplicablelaw,includingthoseregardingnon-clinicalresearch,clinicalresearch,establishment

26

Page 42: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

registration,devicelisting,pre-marketnotification,goodmanufacturingpractices,labeling,advertising,record-keeping,deviceimportationandexportation,adverseeventreportingandreportingofcorrectionsandremovals.TotheknowledgeoftheCompany,exceptaswouldnotbematerialtotheCompany,takenasawhole,anythirdpersonthatisamanufacturerorcontractorfortheCompanyisincompliancewithallFDALawsoranyotherapplicablelawinsofarastheypertaintothemanufactureofproductcomponentsorproductsfortheCompany.

(iii)TotheknowledgeoftheCompany,therearenoProceedingspendingorthreatenedbyoronbehalfoftheFDAoranyotherRegulatoryAuthorityorGovernmentalAuthoritythathasjurisdictionovertheoperationsoftheCompany.TheCompanyhasnotreceivedanyFormFDA-483,noticeofadversefinding,FDAwarningletter,noticeofviolationor"untitledletter,"noticeofFDAactionforimportdetentionorrefusal,oranyothernoticefromtheFDAoranyotherGovernmentalAuthorityallegingorassertingnoncompliancewithanyapplicablelawsorRegistrations.TheCompanyisnotsubjecttoanyobligationarisingunderanadministrativeorregulatoryaction,FDAinspection,FDAwarningletter,FDAnoticeofviolationletterorothernotice,responseorcommitmentmadetoorwiththeFDAoranycomparableRegulatoryAuthorityorGovernmentalAuthority.TheCompanyhasmadeallnotifications,submissions,responsesandreportsrequiredbyFDALawsoranyotherapplicablelaw,includinganysuchobligationarisingunderanyadministrativeorregulatoryaction,FDAinspection,FDAwarningletter,FDAnoticeofviolationletter,orothernotice,response,orcommitmentmadetoorwiththeFDAoranycomparableRegulatoryAuthorityorGovernmentalAuthorityandallsuchnotifications,submissionsandreportsweretrue,completeandcorrectinallmaterialrespectsasofthedateofsubmissiontotheFDAoranycomparableRegulatoryAuthorityorGovernmentalAuthority.

(iv)ExceptassetforthonSection 3.01(aa)(iv) oftheCompanyDisclosureLetter,noproductdistributedorsoldbyoronbehalfoftheCompanyhasbeenseized,withdrawn,recalled,detainedorsubjecttoasuspensionofmanufacturing,andasofthedateofthisAgreement,therearenofactsorcircumstancesreasonablylikelytocause(A)theseizure,denial,withdrawal,recall,detention,fieldnotification,fieldcorrection,safetyalertorsuspensionofmanufacturingrelatingtoanysuchproduct;or(B)atermination,seizure,limitation,restriction,modificationorsuspensionofthemarketingordistribution(includingforcommercial,investigationaloranyotheruse)ofanysuchproduct.NoProceedingsintheUnitedStatesoranyotherjurisdictionseekingthewithdrawal,recall,correction,suspension,importdetention,seizureorsimilaractionofanysuchproductarependingor,totheknowledgeoftheCompany,threatenedagainsttheCompany.SinceJanuary1,2017,theCompanyhasnotreceivedanywrittennoticefromaRegulatoryAuthorityorotherGovernmentalAuthoritythatanyproductdistributedorsoldbyoronbehalfoftheCompanycannotbemanufactured,distributed,marketed,sold,importedorexportedsubstantiallyinthemannerpresentlyperformedorcontemplatedbyoronbehalfoftheCompany.

(v)AllpreclinicalandclinicalinvestigationssponsoredorconductedbyoronbehalfoftheCompanyhavebeenandarebeingconductedinmaterialcompliancewithallapplicablelawsandotherrequirements,includingGoodClinicalPracticesrequirements,otherFDALaws,applicableresearchprotocols,correctiveactionplans,andfederalandstatelaws,rules,regulationsrelatingtopatientprivacyrequirementsorrestrictingtheuseanddisclosureofindividuallyidentifiablehealthinformation.NoclinicaltrialsponsoredorconductedbyoronbehalfoftheCompanyhasbeenterminated,materiallydelayed,limitedorsuspendedpriortocompletionbytheFDA,anyotherapplicableGovernmentalAuthorityorRegulatoryAuthority,oranyinstitutionalreviewboardthathasorhashadjurisdictionoversuchclinicaltrial,andneithertheFDAnoranyotherapplicableGovernmentalAuthorityorRegulatoryAuthority,noranyinstitutionalreviewboardthathasorhashadjurisdictionoveraclinicaltrialconductedorsponsoredbyoronbehalfoftheCompany,hasorderedorcommenced,or,totheknowledgeoftheCompany,threatenedtoinitiate,any

27

Page 43: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

actiontoplaceaclinicalholdorderon,orotherwiseterminate,materiallydelay,limit,modifyorsuspend,anyproposedorongoingclinicaltrialconductedorproposedtobeconductedbyoronbehalfoftheCompany,or,totheknowledgeoftheCompany,allegedanyviolationofanyFDALawinconnectionwithanysuchclinicaltrial.

(vi)TotheknowledgeoftheCompany,sinceJanuary1,2017,nopromotionalmaterialsdistributedbytheCompanyforitsproductshavebeenfalseormisleadingunderSection502oftheFederalFood,DrugandCosmeticAct,exceptashasnothadandwouldnotbereasonablyexpectedtohaveaCompanyMaterialAdverseEffect.

(bb) Healthcare Regulatory Compliance .

(i)NeithertheCompanynoranyofitsofficers,directors,managingemployees(assuchtermsaredefinedin42C.F.R.§1001.2),nortotheknowledgeoftheCompany,anyagent(assuchtermisdefinedin42C.F.R.§1001.2)oftheCompany,isapartyto,orboundby,anyorder,individualintegrityagreement,corporateintegrityagreementorotherformalorinformalagreementwithanyGovernmentalAuthorityconcerningcompliancewithFederalHealthCareProgramLaws.

(ii)NeithertheCompany,anyofitsofficers,directors,managingemployees(asthosetermsaredefinedin42C.F.R.§1001.2),nortotheknowledgeoftheCompany,anyagent(assuchtermisdefinedin42C.F.R.§1001.2)oftheCompany(A)hasbeenchargedwithorconvictedofanycriminaloffenserelatingtothedeliveryofanitemorserviceunderanyFederalHealthCareProgram;(B)hasbeendebarred,excludedorsuspendedfromparticipationinanyFederalHealthCareProgram;(C)hashadacivilmonetarypenaltyassessedagainstit,himorherunderSection1128AoftheSocialSecurityActof1935,codifiedatTitle42,Chapter7,oftheUnitedStatesCode(the"SSA");(D)iscurrentlylistedontheU.S.GeneralServicesAdministrationpublishedlistofpartiesexcludedfromfederalprocurementprogramsandnon-procurementprograms;or(E)isthetargetorsubjectofanycurrentorpotentialinvestigationrelatingtoanyFederalHealthCareProgram-relatedoffense."Federal Health Care Program "hasthemeaningspecifiedinSection1128B(f)oftheSSAandincludestheMedicare,MedicaidandTRICAREprograms.

(iii)TheCompanyhasnotbeen,nortotheknowledgeoftheCompany,hasanyofitsortheirrespectiveofficers,directors,managingemployees(asthosetermsaredefinedin42C.F.R.§1001.2),nortotheknowledgeoftheCompany,anyagent(assuchtermisdefinedin42C.F.R.§1001.2)oftheCompanyengagedinanyactivitythatisinviolationof,oriscauseforcivilorcriminalpenalties,mandatoryorpermissiveexclusionfromaFederalHealthCareProgramorotheradministrativesanctionunder,thefederalMedicareorfederalorstateMedicaidstatutes,Section1128,1128A,1128B,1128Cor1877oftheSSA(42U.S.C.§§1320a-7,1320a-7a,1320a-7b,1320a-7cand1395nn),thefederalTRICAREstatute(10U.S.C.§1071etseq.),thecivilFalseClaimsActof1863(31U.S.C.§3729etseq.),criminalfalseclaimsstatutes(e.g.,18U.S.C.§§287and1001),theProgramFraudCivilRemediesActof1986(31U.S.C.§3801etseq.),theanti-fraudandrelatedprovisionsoftheHealthInsurancePortabilityandAccountabilityActof1996("HIPAA ")(e.g.,18U.S.C.§§1035and1347),thePhysicianPaymentSunshineAct(42U.S.C.§1320a-7h),orrelatedregulations,oranyotherlawsthatgovernthehealthcareindustryorrelationshipsamonghealthcareproviders,suppliers,distributors,manufacturersandpatients,includingallstatelawsanalogoustotheforegoing(collectively,"Federal Health Care Program Laws "),includingthefollowing:

(A)knowinglyandwillfullymakingorcausingtobemadeafalsestatementorrepresentationofamaterialfactinanyapplicationforanybenefitorpayment;

28

Page 44: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(B)knowinglyandwillfullymakingorcausingtobemadeafalsestatementorrepresentationofamaterialfactforuseindeterminingrightstoanybenefitorpayment;

(C)knowinglyandwillfullysoliciting,arrangingorreceivinganyremuneration(includinganykickback,bribeorrebate),directlyorindirectly,overtlyorcovertly,incashorkind(I)inreturnfororinconnectionwithreferringanindividualtoapersonforthefurnishingorarrangingforthefurnishingofanyitemorserviceforwhichpaymentmaybemadeinwholeorinpartunderanyFederalHealthCareProgram;or(II)inreturnforpurchasing,leasingorordering,orarrangingfororrecommendingpurchasing,leasingorordering,anygood,facility,serviceoritemforwhichpaymentmaybemadeinwholeorinpartunderanyFederalHealthCareProgram;

(D)knowinglyandwillfullyoffering,arrangingorpayinganyremuneration(includinganykickback,bribeorrebate),directlyorindirectly,overtlyorcovertly,incashorinkind,toanypersontoinducesuchperson(I)toreferanindividualtoapersonforthefurnishingorarrangingforthefurnishingofanyitemorserviceforwhichpaymentmaybemadeinwholeorinpartunderaFederalHealthCareProgram;or(II)topurchase,leaseororder,orarrangefororrecommendpurchasing,leasingorordering,anygood,facility,serviceoritemforwhichpaymentmaybemadeinwholeorinpartunderaFederalHealthCareProgramunlesssuchofferorpaymentfullycompliedwithapplicablestatutoryorregulatorysafeharbors;and

(E)anyotheractivitythatviolatesanylawrelatingtoprohibitingfraudulent,abusiveorunlawfulpracticesconnectedinanywaywiththeprovisionofhealthcareitemsorservicesorthebillingforsuchitemsorservicesprovidedtoabeneficiaryofanyFederalHealthCareProgram.

(iv)ExceptassetforthinSection 3.01(bb)(iv) oftheCompanyDisclosureLetter,totheknowledgeoftheCompany,nopersonhasfiledorhasthreatenedtofileagainsttheCompanyanactionrelatingtoanyFDALaworFederalHealthCareProgramLawunderanyfederalorstatewhistleblowerstatute,includingundertheFalseClaimsActof1863(31U.S.C.§3729etseq.).

(v)ExceptassetforthinSection 3.01(bb)(v) oftheCompanyDisclosureLetter,totheknowledgeoftheCompany,theCompanyisnotinviolationoftheadministrativesimplificationprovisionsofHIPAA,asamendedbytheHealthInformationTechnologyforEconomicandClinicalHealthAct,ortheregulationscontainedin45C.F.R.Parts160and164(the"Federal Privacy and Security Regulations "),andexceptashasnothad,orwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect,theCompanyhasoperateditsbusinessincomplianceinallmaterialrespectswithallapplicablelaws,clinicaltrialprotocols,andcontractualorotherrequirementsrelatingtopersonalinformation,medicalrecordsandmedicalorpersonalinformationprivacythatregulateorlimitthemaintenance,use,disclosureortransmissionofmedicalrecords,clinicaltrialdata,patientinformationorotherpersonalinformationmadeavailabletoorcollectedbytheCompanyinconnectionwiththeoperationofitsbusiness,includingtheStandardsforPrivacyofIndividuallyIdentifiableHealthInformationat45C.F.R.Parts160and164(subpartsAandE),theSecurityStandardsat45C.F.R.Parts160and164(subpartsAandC)andtheStandardsforElectronicTransactionsandCodeSetsat45C.F.R.Parts160and162promulgatedunderHIPAA.TotheknowledgeoftheCompany,theCompanyisnotunderinvestigationbyanyGovernmentalAuthorityforaviolationofHIPAAortheFederalPrivacyandSecurityRegulations.TheCompanyisnota"coveredentity"asthattermisdefinedinHIPAAandisnotinbreachofany"businessassociatecontract,"asdescribedin45C.F.R.§164.504(e).TheCompanyhasenteredintoabusinessassociatecontractwhererequiredby45C.F.R.§164.504(e).

29

Page 45: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(vi)TotheextenttheCompanyprovidestocustomersorothersreimbursementcodingorbillingadviceregardingproductsofferedforsalebytheCompanyandproceduresrelatedthereto,suchadviceis(A)true,completeandcorrect;(B)incompliancewithMedicareandotherFederalHealthCareProgramLaws,exceptwherefailuretocomplyhasnothad,orwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect;(C)conformstotheapplicableAmericanMedicalAssociation'sCurrentProceduralTerminology(CPT),theInternationalClassificationofDisease,TenthRevision,ClinicalModification(ICD-10-CM)andotherapplicablecodingsystems;(D)includesadisclaimeradvisingcustomerstocontactindividualpayerstoconfirmcodingandbillingguidelines;and(E)hasbeenindependentlyverifiedassupportingaccurateclaimsforreimbursementbyfederal,stateandcommercialpayors.

(vii)TheCompanyhasadoptedacodeofethicsandhasanoperationalhealthcarecomplianceprogramconsistentinallmaterialrespectswiththeComplianceProgramGuidancepublishedbytheOfficeofInspectorGeneral,U.S.DepartmentofHealthandHumanServices,whichgovernsallemployees,includingsalesrepresentativesandtheirinteractionswiththeirphysicianandhospitalcustomers.

(viii)Exceptashasnothad,orwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect,(A)allagreementsorotherarrangementsbetweentheCompanyontheonehandandanyphysicianontheotherhandforservicesareinwriting,describebonafideservicesrequiredbytheCompany,asthecasemaybe,provideforcompensationthatisnomorethanfairmarketvalueforsuchservicesdeterminedasoftheeffectivedateofsuchagreement,andareinmaterialcompliancewiththeFederalAnti-KickbackStatute(42U.S.C.§1320a-7b(b))("AKS ");(B)allagreementsorarrangementswithhealthcareprofessionalsforservicestoorinvestmentsintheCompany,directlyorindirectly,towhichtheCompanyisapartyasofthedateofthisAgreementarelistedonSection 3.01(bb)(viii) oftheCompanyDisclosureLetter,includingtrue,completeandcorrectdetailsastoamountspaidthereunderin2017;(C)allpaymentsmadeandthingsofvalueprovidedbytheCompanytoanyhealthcareprofessionalforservicesrenderedbysuchhealthcareprofessionalhavebeenmadeatfairmarketvaluedeterminedasoftheeffectivedateofanysuchagreementandareinmaterialcompliancewithAKS;and(D)allsuchagreements,arrangements,paymentsandthingsofvalueareincomplianceinallmaterialrespectswithallapplicablelaws,includingallFederalHealthCareProgramLaws.

(ix)TheCompanyhastimely,accurately,andcompletelyreportedallpaymentsandtransfersofvaluemadetophysiciansandteachinghospitals,asrequiredbythePhysicianPaymentSunshineAct(42U.S.C.§1320a-7h)andtheCompanyisincompliancewithallanalogousstatelawsrequiringthereportingoffinancialinteractionswithhealthcareproviders,exceptashasnothad,orwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect.

(cc) Customs and International Trade Laws .

(i)SinceJanuary1,2017,theCompanyhasbeenin,exceptashasnothad,orwouldnotreasonablybeexpectedtohaveaCompanyMaterialAdverseEffect,incompliancewithallapplicableCustoms&InternationalTradeLawsandtherearenounresolvedformalclaimsconcerningtheliabilityoftheCompanyundersuchlaws.Withoutlimitingtheforegoing,(A)atalltimessinceJanuary1,2017,theCompanyand,totheknowledgeoftheCompany,personsactingontheirbehalfhaveobtainedallimportandexportlicensesandallotherconsents,notices,waivers,approvals,orders,authorizations,registrations,declarations,classificationsandfilingsrequiredfortheexport,import,re-exportortransferofgoods,services,softwareandtechnologyrequiredfortheoperationofthebusinessesoftheCompany,includingCustoms&InternationalTradeAuthorizations;(B)sinceJanuary1,2017,noGovernmentalAuthorityhasinitiatedany

30

Page 46: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Proceedingsorimposedanycivilorcriminalfine,penalty,seizure,forfeiture,revocationofaCustoms&InternationalTradeAuthorization,debarmentordenialoffutureCustoms&InternationalTradeAuthorizationsagainstanyoftheCompanyor,totheknowledgeoftheCompany,anyofitsdirectors,officers,employeesoragentsinconnectionwithanyactualorallegedviolationofanyapplicableCustoms&InternationalTradeLawsbytheCompanyand(C)sinceJanuary1,2017,therehavebeennoclaimsortotheCompany'sknowledgeinvestigationsbyaGovernmentalAuthoritywithrespecttotheCompany'sCustoms&InternationalTradeAuthorizationsandcompliancewithapplicableCustoms&InternationalTradeLaws.

(ii)NeithertheCompanynortotheCompany'sknowledge,anyofitsdirectors,officersoremployees(A)isaSanctionedPerson;or(B)haspendingor,totheknowledgeoftheCompany,threatenedclaimswithrespecttoviolationsofapplicablelawspertainingtoSanctions.

(iii)TheCompanyandeachdirectoractingintheircapacityasadirectoroftheCompany,officerand,totheknowledgeoftheCompany,employeeisincompliancewith,and,sinceJanuary1,2017,hasnotviolated,anyapplicableSanctions;andtheCompanyhasinplacecontrolsandsystemsreasonablydesignedtoensurecompliancewithapplicablelawspertainingtoSanctions.

(dd) No Other Representations or Warranties; Non-Reliance on Parent Estimates, Projections, Forecasts, Forward-Looking Statements and BusinessPlans. InconnectionwiththeduediligenceinvestigationofParentbytheCompany,theCompanyhasreceivedandmaycontinuetoreceivefromParentcertainestimates,projections,forecastsandotherforward-lookinginformation,aswellascertainbusinessplanandcost-relatedplaninformation,regardingParent,itssubsidiariesandtheirrespectivebusinessandoperations.TheCompanyherebyacknowledgesthatthereareuncertaintiesinherentinattemptingtomakesuchestimates,projections,forecastsandotherforward-lookinginformation,withwhichtheCompanyisfamiliar,thatCompanyistakingfullresponsibilityformakingitsownevaluationoftheadequacyandaccuracyofallestimates,projections,forecastsandotherforward-lookinginformation,aswellassuchbusinessplansandcost-relatedplans,sofurnishedtoit.Accordingly,theCompanyherebyacknowledgesthatunlessexpresslyaddressedorincludedinarepresentationandwarrantyinArticleIII,neitherParentnoranyofitssubsidiaries,noranyoftheirrespectivestockholders,members,directors,officers,employees,affiliates,advisors,agentsorRepresentatives,noranyotherperson,hasmadeorismakinganyrepresentationorwarrantywithrespecttosuchestimates,projections,forecasts,forward-lookinginformation,businessplansorcost-relatedplans.ExceptfortherepresentationsandwarrantiesofParentandMergerSubcontainedinArticleIII,theCompanyacknowledgesthatneitherParentnoranyofitssubsidiariesnoranyRepresentativeofanysuchpersonsoranyoftheirrespectivesubsidiariesmakes,andtheCompanyacknowledgesthatithasnotrelieduponorotherwisebeeninducedby,anyotherexpressorimpliedrepresentationorwarrantybyoronbehalfofanyofsuchpersonsorwithrespecttoanyotherinformationprovidedormadeavailabletotheCompanybyoronbehalfofanysuchpersonsinconnectionwiththetransactionscontemplatedbythisAgreement.

Section3.02 Representations and Warranties of Parent and Merger Sub. Exceptassetforthin(i)thecorrespondingsectionsofthedisclosureletterdatedthedateofthisAgreementanddeliveredtoCompanybyParentconcurrentlywiththeexecutionanddeliveryofthisAgreement(itbeingunderstoodthatdisclosureofanyiteminanysectionorsubsectionofsuchdisclosurelettershallalsobedeemedtobedisclosedwithrespecttoanyothersectionorsubsectiononlyiftherelevanceofsuchitemisreadilyapparentfromthefaceofsuchdisclosure)(the"Parent Disclosure Letter ")or(ii)theParentSECReportspubliclyfiledwiththeSEConorafterJanuary1,2018andpriortothedateofthisAgreement(butexcludingriskfactorsandexcludingforward-lookingdisclosureorstatementsand

31

Page 47: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

otherdisclosuresthatarepredictiveorforward-lookinginnature,otherthanhistoricalfactsincludedtherein),ParentrepresentsandwarrantstoCompanyasfollows:

(a) Organization and Qualification. EachofParent,MergerSubandeachofParent'sothersubsidiaries(suchsubsidiariesofParent,the"ParentSubsidiaries ")isdulyorganized,validlyexistingandingoodstanding(withrespecttojurisdictionsthatrecognizetheconceptofgoodstanding)underthelawsofitsjurisdictionoforganizationandhastherequisitecorporate(orsimilar)powerandauthoritytoconductitsbusinessaspresentlyconductedandtoown,useandleaseitsassetsandproperties,exceptforsuchfailurestobesoorganized,existingandingoodstanding(withrespecttojurisdictionsthatrecognizetheconceptofgoodstanding)ortohavesuchpowerandauthoritythat,individuallyorintheaggregate,wouldnotorwouldnotreasonablybeexpectedtohaveaParentMaterialAdverseEffect.EachofParentandMergerSubisdulyqualified,licensedoradmittedtodobusinessandisingoodstanding(withrespecttojurisdictionsthatrecognizetheconceptofgoodstanding)ineachjurisdictioninwhichtheownership,useorleasingofitsassetsandproperties,ortheconductornatureofitsbusiness,makessuchqualification,licensingoradmissionnecessary,exceptforsuchfailurestobesoqualified,licensedoradmittedandingoodstanding(withrespecttojurisdictionsthatrecognizetheconceptofgoodstanding)that,individuallyorintheaggregate,wouldnotorwouldnotreasonablybeexpectedtohaveaParentMaterialAdverseEffect.EachofParentandMergerSubhavedisclosedordeliveredtotheCompanypriortothedateofthisAgreementatrueandcompletecopyofitscertificatesofincorporationandby-lawsorcomparableorganizationalandgoverningdocuments,eachasamendedthroughthedateofthisAgreement,andeachassodisclosedordeliveredisinfullforceandeffectonthedateofthisAgreement.

(b) Capital Structure.

(i)TheauthorizedcapitalstockofParentconsistsof150,000,000sharesofParentCommonStockand5,000,000sharesofpreferredstock,parvalue$0.001pershare,ofParent.AsofthecloseofbusinessonAugust5,2019(the"ParentReferenceDate"),therewereoutstanding(A)36,834,375sharesofParentCommonStock,(B)anaggregateof5,902,795sharesofParentCommonStocksubjecttooutstandingParentStockOptions(excludinganyOptionsorpurchaserightsundertheParentESPP),(C)anaggregateof610,544sharesofParentCommonStocksubjecttooutstandingParentRestrictedStockUnitsand(D)nosharesofpreferredstock.

(ii)AsoftheParentReferenceDate,exceptassetforthinthisSection 3.02(b) andexceptforchangessincesuchdateresultingfromtheexerciseofParentStockOptionsorthesettlementofParentRestrictedStockUnits,ineachcaseoutstandingonsuchdate,therearenoissued,reservedforissuanceoroutstanding(A)sharesofcapitalstockorothervotingsecuritiesoforotherequityinterestsinParent,(B)securitiesofParentconvertibleintoorexchangeableforsharesofcapitalstockorothervotingsecuritiesoforotherequityinterestsinParent,(C)warrants,calls,OptionsorotherrightstoacquirefromParent,orotherobligationofParenttoissue,anysharesofcapitalstock,votingsecuritiesorsecuritiesconvertibleintoorexchangeableforcapitalstockorothervotingsecuritiesoforotherequityinterestsinParentor(D)restrictedshares,stockappreciationrights,performanceunits,contingentvaluerights,phantomstockorsimilarsecuritiesorrightsissuedorgrantedbyParentoranyofitssubsidiariesthatarederivativeof,orprovideeconomicbenefitsbased,directlyorindirectly,onthevalueorpriceof,anysharesofcapitalstockorothervotingsecuritiesoforotherequityinterestsinParent.

(iii)OtherthanaslistedonSection 3.02(b)(iii) oftheParentDisclosureLetter,asofthedateofthisAgreement,nobonds,debentures,notesorotherindebtednessofParentoranyParentSubsidiarieshavingtherighttovote(orwhichareconvertibleintoorexercisableforsecuritieshavingtherighttovote)(collectively,"Parent Voting Debt ")onanymattersonwhichParentstockholdersmayvoteareissuedoroutstandingnorarethereanyoutstandingOptionsobligatingParentoranyParentSubsidiariestoissueorsellanyParentVotingDebtortogrant,extendorenterintoanyOptionwithrespectthereto.

32

Page 48: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(iv)AlloftheissuedandoutstandingsharesofParentCommonStockare,andallsharesreservedforissuancewillbe,uponissuanceinaccordancewiththetermsspecifiedintheinstrumentsoragreementspursuanttowhichtheyareissuable,dulyauthorized,validlyissued,fullypaidandnonassessable,includingshareswhichconstituteaportionoftheMergerConsideration.Alloftheoutstandingsharesofcapitalstock,membershipinterests,partnershipinterests,votingsecuritiesorotherownershipinterestsofeachsubsidiaryofParentaredulyauthorized,validlyissued,fullypaidandnon-assessableandareowned,beneficiallyandofrecord,byParentoraParentSubsidiary,freeandclearofanyLiens.Allofthesharesofcapitalstock,membershipinterests,partnershipinterests,votingsecuritiesorotherownershipinterestsofeachsubsidiaryofParentaredulyauthorized,validlyissued,fullypaidandnon-assessableandareowned,beneficiallyandofrecord,byParentorsuchsubsidiaryofParent.Therearenovotingtrusts,proxiesorothercommitments,understandings,restrictionsorarrangementstowhichParentoranyParentSubsidiariesisapartyinfavorofanypersonotherthanParentorasubsidiarywholly-owned,directlyorindirectly,byParentwithrespecttothevotingofortherighttoparticipateindividendsorotherearningsonanycapitalstock,membershipinterests,partnershipinterests,votingsecuritiesorotherownershipinterestsofParentoranyParentSubsidiary.

(c) Authority.

(i)EachofParentandMergerSubhasallrequisitecorporatepowerandauthoritytoenterintoanddeliverthisAgreement,toperformitsobligationshereunderandtoconsummatethetransactionscontemplatedhereby,includingtheMerger,subjecttoanyregulatoryapprovalsreferencedinSection 3.02(d)(ii) .Theexecution,deliveryandperformanceofthisAgreementbyParentandtheconsummationbyParentofthetransactionscontemplatedhereby,includingtheMerger,havebeendulyandvalidlyauthorizedbyallrequisiteactiononthepartofParentandMergerSubwithrespecttothisAgreementandnoothercorporateproceedingsonthepartofParentorMergerSubarenecessarytoauthorizetheexecution,deliveryandperformanceofthisAgreementortoconsummatetheMergerandtheothertransactionscontemplatedhereby,includingtheMerger,otherthantheadoptionofthisAgreementbyParentasthesolestockholderofMergerSub,approvalsundertheHSRActandanyotherapplicableAntitrustLawsandthefilingoftheCertificateofMergerwiththeSecretaryofStateoftheStateofDelaware.ThisAgreementhasbeendulyauthorizedandvalidlyexecutedanddeliveredbyParentandMergerSub,asapplicable,and,assumingthisAgreementconstitutesthelegal,validandbindingobligationoftheCompany,constitutesalegal,validandbindingobligationofParentandMergerSubenforceableagainstParentandMergerSubinaccordancewithitsterms,exceptthatsuchenforcementmaybesubjecttoapplicablebankruptcy,insolvency,reorganization,moratoriumorothersimilarlawsrelatingtocreditors'rightsgenerallyandtogeneralequitableprinciples.

(ii)TheParentBoardandtheboardofdirectorsofMergerSubhaveeachdulyandvalidlyadoptedresolutions(A)adopting,approvinganddeclaringadvisablethisAgreementandtheothertransactionscontemplatedhereby,includingtheMerger,and(B)determiningthatthetermsofthisAgreement,theMergerandtheothertransactionscontemplatedherebyarefairtoandinthebestinterestsofParent,MergerSub,andtheirrespectivestockholders,whichresolutions,asofthedateofthisAgreement,havenotbeenrescinded,modifiedorwithdrawninanyway.

(d) No Conflicts; Approvals and Consents.

(i)TheexecutionanddeliveryofthisAgreementbyParentandMergerSubdonot,andtheperformancebyParentandMergerSuboftheirrespectiveobligationshereunderandtheconsummationoftheMergerandtheothertransactionscontemplatedherebywillnot,conflictwith,resultinaviolationof,lossofrightsunder,breachof,constitute(withorwithoutnoticeorlapseoftimeorboth)adefaultunder,resultinorgivetoanypersonanyrightofpaymentorreimbursement,termination,cancellation,modificationoraccelerationof,orresultinthecreation

33

Page 49: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

orimpositionofanyLienotherthanPermittedLiensuponanyoftheassetsorpropertiesofParentoranyParentSubsidiaryunder,anyoftheterms,conditionsorprovisionsof(A)thecertificatesofincorporationorby-laws(orothercomparableorganizationaldocuments)ofParentoranyParentSubsidiary,or(B)subjecttothetakingoftheactionsdescribedinparagraph(ii)ofthisSection 3.02(d) ,includingthefilingsandapprovalsdescribedinSection 3.02(d)(ii) ,anylawsorordersofanyGovernmentalAuthorityapplicabletoParentoranyParentSubsidiaryoranyoftheirrespectiveassetsorproperties,or(C)anynote,bond,mortgage,securityagreement,creditagreement,indenture,license,franchise,permit,concession,contract,lease,obligationorotherinstrumenttowhichParentoranyParentSubsidiaryisapartyorbywhichParentoranyParentSubsidiaryoranyoftheirrespectiveassetsorpropertiesisbound,excludingfromtheforegoingclauses(B)and(C)suchitemsthat,individuallyorintheaggregate,wouldnotorwouldnotreasonablybeexpectedtohaveaParentMaterialAdverseEffect.

(ii)Exceptfor(A)compliancewith,andfilings,consents,orapprovalsunder,theHSRActandanyotherapplicableAntitrustLaws,asapplicable;(B)thefilingwiththeSECoftheProxy/S-4andthedeclarationofeffectivenessoftheProxy/S-4bytheSEC,andotherfilingsrequiredunder,andcompliancewithotherapplicablerequirementsof,theExchangeActasmayberequiredinconnectionwiththisAgreementandthetransactionscontemplatedhereby;(C)suchfilingsandapprovalsasmayberequiredunderSecuritiesActof1933,asamended,ortherulesandregulationsoftheNYSEandNasdaq;(D)theConsentsreferencedinSection 3.01(d)(ii)(D) ,and(E)thefilingoftheCertificateofMergerwiththeSecretaryofStateoftheStateofDelawarepursuanttotheDGCL,noConsentsoractionof,registration,declarationorfilingwithornoticetoanyGovernmentalAuthorityisnecessaryorrequiredtobeobtainedormadeinconnectionwiththeexecutionanddeliveryofthisAgreementbyParentandMergerSub,theperformancebyParentandMergerSuboftheirrespectiveobligationshereunderortheconsummationoftheMergerandtheothertransactionscontemplatedhereby,otherthansuchitemsthatthefailuretomakeorobtain,asthecasemaybe,individuallyorintheaggregate,wouldnotorwouldnotreasonablybeexpectedtohaveaParentMaterialAdverseEffect.

(e) SEC Reports, Financial Statements.

(i)ParentandtheParentSubsidiarieshavetimelyfiledorfurnishedeachform,report,schedule,registrationstatement,registrationexemption,ifapplicable,definitiveproxystatementandotherdocument(togetherwithallamendmentsthereofandsupplementsthereto)requiredtobefiledorfurnishedbyParentoranyParentSubsidiariespursuanttotheSecuritiesActortheExchangeActwiththeSECsinceJanuary1,2018(assuchdocumentshavesincethetimeoftheirfilingbeenamendedorsupplemented,the"Parent SEC Reports ").Asoftheirrespectivedates,aftergivingeffecttoanyamendmentsorsupplementsthereto,theParentSECReports(A)compliedinallmaterialrespectswiththerequirementsoftheSecuritiesActandtheExchangeAct,asapplicable,and,totheextentapplicable,SOX,and(B)didnotcontainanyuntruestatementofamaterialfactoromittostateamaterialfactrequiredtobestatedthereinornecessaryinordertomakethestatementstherein,inlightofthecircumstancesunderwhichtheyweremade,notmisleading.AsofthedateofthisAgreement,therearenomaterialoutstandingorunresolvedcommentsincommentlettersfromtheSECstaffwithrespecttoanyoftheParentSECReports.

(ii)EachoftheprincipalexecutiveofficerofParentandtheprincipalfinancialofficerofParent(oreachformerprincipalexecutiveofficerofParentandeachformerprincipalfinancialofficerofParent,asapplicable)hasmadeallapplicablecertificationsrequiredbyRule13a-14or15d-14undertheExchangeActandSections302and906ofSOXwithrespecttotheParentSECReports.Forpurposesoftheprecedingsentence,"chiefexecutiveofficer"and"chieffinancialofficer"shallhavethemeaningsgiventosuchtermsinSOX.SinceJanuary1,2017,neitherParent

34

Page 50: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

norMergerSubhasarrangedanyoutstanding"extensionsofcredit"todirectorsorexecutiveofficerswithinthemeaningofSection402ofSOX.

(iii)Theauditedconsolidatedfinancialstatementsandunauditedinterimconsolidatedfinancialstatements(including,ineachcase,thenotes,ifany,thereto)includedintheParentSECReports(the"Parent Financial Statements ")compliedinallmaterialrespectswiththepublishedrulesandregulationsoftheSECwithrespecttheretoineffectatthetimeoffilingorfurnishingtheapplicableParentSECReport,werepreparedinaccordancewithGAAP,appliedonaconsistentbasisduringtheperiodsinvolved(exceptasmaybeindicatedthereinorinthenotestheretoandexceptwithrespecttounauditedstatementsaspermittedbytheSEConForm8-K,Form10-QoranysuccessororlikeformundertheExchangeAct)andfairlypresent(subject,inthecaseoftheunauditedinterimfinancialstatements,tonormal,recurringyearendauditadjustmentsthatwouldnotbe,individuallyorintheaggregate,materiallyadversetoParent)inallmaterialrespectstheconsolidatedfinancialpositionofParentanditsconsolidatedsubsidiaries,asoftherespectivedatesthereof,andtheconsolidatedresultsoftheiroperationsandcashflowsfortherespectiveperiodsthenended.

(iv)Parentmaintainsasystemofinternalcontroloverfinancialreporting(asdefinedinRules13a-15(f)and15d-15(f)oftheExchangeAct)sufficienttoprovidereasonableassurancesregardingthereliabilityoffinancialreporting.Parent(A)maintainsdisclosurecontrolsandprocedures(asdefinedinRules13a-15(e)and15d-15(e)oftheExchangeAct)toprovidereasonableassurancethatallinformationrequiredtobedisclosedbyParentinthereportsthatitfilesorsubmitsundertheExchangeActisrecorded,processed,summarizedandreportedwithinthetimeperiodsspecifiedintheSEC'srulesandformsandisaccumulatedandcommunicatedtoParent'smanagementasappropriatetoallowtimelydecisionsregardingrequireddisclosure,and(B)hasdisclosed,basedonitsmostrecentevaluationofinternalcontroloverfinancialreporting,toParent'soutsideauditorsandtheauditcommitteeoftheParentBoard(x)allsignificantdeficienciesandmaterialweaknessesinthedesignoroperationofinternalcontroloverfinancialreportingthatarereasonablylikelytoadverselyaffectParent'sabilitytorecord,process,summarizeandreportfinancialinformationand(y)anyfraud,whetherornotmaterial,thatinvolvesmanagementorotheremployeeswhohaveasignificantroleinParent'sinternalcontroloverfinancialreporting,andtheinformationdescribedintheforegoingclauses(x)and(y)hasbeendisclosedtotheCompanypriortothedateofthisAgreement.

(f) Absence of Undisclosed Liabilities. Exceptfor(i)mattersreflected,providedorreservedagainstintheauditedconsolidatedbalancesheet(ornotesthereto)asofMarch31,2019includedintheParentFinancialStatements,(ii)liabilitiesorobligationsthatwereincurredintheordinarycourseofbusinessconsistentwithpastpracticesinceMarch31,2019,(iii)liabilitiesorobligationsthatareincurredinconnectionwiththeMergerorthetransactionscontemplatedbythisAgreement,(iv)liabilitiesundermaterialcontractsandothercontractsenteredintointheordinarycourseofbusinessconsistentwithpastpractice(excludingliabilitiesarisingfromabreachofanysuchcontracts)or(v)liabilitiesorobligationsthat,individuallyorintheaggregate,arenotmaterialtoParentandanyParentSubsidiary,neitherParentnoranyParentSubsidiaryhasanyliabilitiesorobligations(whetherabsolute,accrued,contingent,fixedorotherwise,orwhetherdueortobecomedue)ofanynature.NeitherParentnoranyParentSubsidiaryisapartyto,orhasanycommitmenttobecomeapartyto,anyjointventure,off-balancesheetpartnershiporanysimilarcontractorarrangement(includinganyContractrelatingtoanytransactionorrelationshipbetweenoramongParentandanyParentSubsidiary,ontheonehand,andanyunconsolidatedaffiliate,includinganystructuredfinance,specialpurposeorlimitedpurposeentityorperson,ontheotherhand),orany"off-balancesheetarrangements"(asdefinedinItem303(a)ofRegulationS-KundertheExchangeAct),wheretheresult,purposeoreffectofsuchcontractorarrangementistoavoiddisclosureofanymaterial

35

Page 51: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

transactioninvolving,ormaterialliabilitiesof,ParentoranyParentSubsidiary,intheParentFinancialStatementsortheParentSECReports.

(g) Legal Proceedings. AsofthedateofthisAgreement,thereareno(i)ProceedingsbeforeanyGovernmentalAuthorityorarbitratorpendingor,totheknowledgeofParent,threatenedagainstParentoranyParentSubsidiaryor(ii),totheknowledgeofParent,investigationspendingorthreatenedagainstParentoranyParentSubsidiaryoranyoftheirrespectiveassetsandpropertiesthat,ineachcase,individuallyorintheaggregate,havehadorwouldreasonablybeexpectedtohaveaParentMaterialAdverseEffect.NeitherParentnororanyParentSubsidiarynoranyofParent'smaterialassetsorpropertiesisapartytoorsubjecttoanyorder,judgment,decree,settlement,award,injunctionorruleofanyRegulatoryAuthorityorGovernmentalAuthoritythat,individuallyorintheaggregate,hashadorwouldreasonablybeexpectedtohaveaParentMaterialAdverseEffect.

(h) Compliance with Laws and Orders.

(i)Exceptashasnothad,orwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aParentMaterialAdverseEffect:(A)theParentandtheParentSubsidiariesarenot,andsinceJanuary1,2017havenotbeen,inmaterialviolationoformaterialdefaultunderanymateriallawororderofanyRegulatoryAuthorityorGovernmentalAuthority,andneithertheParentnoranyParentSubsidiaryhasbeengivenwrittennoticeof,orbeenchargedwith,anymaterialviolationofanymateriallawororderofanyRegulatoryAuthorityorGovernmentalAuthority;and(B)theCompanyisandhasbeen,incomplianceinallmaterialrespectswith(1)SOXand(2)theapplicablelistingstandardsandcorporategovernancerulesandregulationsofNYSE.

(ii)Exceptashasnothad,orwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aParentMaterialAdverseEffect,eachoftheParentandtheParentSubsidiaries,is,andsinceJanuary1,2017,hasbeen,incomplianceinallmaterialrespectswith(A)allDataPrivacyandSecurityLaws,and(B)anymaterialprivacypolicies,programsorothernoticesthatconcerntheParent'soranyParentSubsidiaries'collectionoruseofanyPersonalInformationofanindividual.SinceJanuary1,2017,(A)totheknowledgeoftheParent,therehavenotbeenanyincidentsofmaterial(1)DataSecurityBreaches,(2)notificationstoanyindividual,entityorGovernmentalAuthorityregardingaDataSecurityBreach,(3)complaintsornoticestotheParentoranyParentSubsidiaries,or(4)audits,proceedingsorinvestigationsconductedorclaimsassertedbyanyotherperson(includinganyGovernmentalAuthority)regardingtheunauthorizedorillegalcollectionoruse(includingthestorage,display,transfer,disseminationandotherdisposition)ofanyPersonalInformationofanindividual,oranymaterialviolationofapplicablelaw,bytheParentoranyParentSubsidiaries,and(B)nosuchclaimispendingor,totheknowledgeoftheParent,threatened,that,inthecaseof(A)or(B),individuallyorintheaggregate,hashadorwouldreasonablybeexpectedtohaveaParentMaterialAdverseEffect.

(iii)Exceptaswouldnot,individuallyorintheaggregate,reasonablybeexpectedtohaveaParentMaterialAdverseEffect,sinceJanuary1,2017,noneoftheParent,anyParentSubsidiaryoranyoftheirrespectiveofficers,directors,employeesor,totheknowledgeoftheParent,agents,distributors,consultantsorindependentcontractors(totheextentactingonbehalfoftheParentoranyParentSubsidiary)hasdirectlyorindirectlymade,promised,orauthorizedorofferedtomake,promiseorauthorizeanycontribution,gift,bribe,rebate,payoff,influencepayment,kickbackorotherpaymenttoanyperson,privateorpublic,regardlessofwhatform,whetherinmoney,propertyorservices,inviolationofanyAnti-CorruptionLaws.Exceptaswouldnot,individuallyorintheaggregate,reasonablybeexpectedtohaveaParentMaterialAdverseEffect,sinceJanuary1,2017,noneoftheParent,theParentSubsidiaries,noranyoftheirrespectiveofficers,directors,employeesor,totheknowledgeoftheParent,agents,distributors,consultantsorindependentcontractors(totheextentactingonbehalfoftheParentoranyParentSubsidiary)has

36

Page 52: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

directlyorindirectlyofferedorgivenanythingofvaluecorruptlyto(A)anygovernmentofficial,politicalpartyorofficialthereoforanycandidateforpoliticalofficeor(B)anyperson,whileknowingthatalloraportionofsuchthingofvaluewillbeoffered,givenorpromised,directlyorindirectly,toanyofficial,toanypoliticalpartyorofficialthereofortoanycandidateforpoliticalofficeforthepurposeofthefollowing:(I)influencinganyactordecisionofsuchgovernmentofficial,politicalparty,partyofficialorcandidateinhis,heroritsofficialcapacity,includinginfluencingsuchgovernmentofficial,politicalparty,partyofficialorcandidatetodooromittodoanyactinviolationofthelawfuldutyofsuchgovernmentofficial,politicalparty,partyofficialorcandidate,orsecuringanyimproperadvantageor(II)inducingsuchgovernmentofficial,politicalparty,partyofficialorcandidatetousehis,heroritsinfluencewithaGovernmentalAuthorityorinstrumentalitythereoftoaffectorinfluenceanyactordecisionofsuchGovernmentalAuthorityorinstrumentality,inordertoassisttheParentoranyParentSubsidiaryinobtainingorretainingbusinessfororwith,ordirectingbusinessto,anyperson.

(iv)TheParentandtheParentSubsidiariesmaintainasystemorsystemsofinternalcontrolsreasonablydesignedto(A)ensurecompliancewithapplicableAnti-CorruptionLawsand(B)preventanddetectviolationsofapplicableAnti-CorruptionLaws.

(i) Tax; Intended Tax Treatment. NeitherParentnoranyParentSubsidiaryisawareoftheexistenceofanyfact,orhastakenoragreedtotakeanyaction,thatwouldreasonablybeexpectedtopreventorimpedetheMergerfromqualifyingasa"reorganization"withinthemeaningofSection368(a)oftheCode.

(j) Information Supplied. NoneoftheinformationsuppliedortobesuppliedbyParentoranyParentSubsidiaryspecificallyforinclusionorincorporationbyreferencein(a)theregistrationstatementonProxy/S-4tobefiledwiththeSECbyParentinconnectionwiththeissuanceofParentCommonStockintheMergerwill,atthetimetheProxy/S-4becomeseffectiveundertheSecuritiesAct,containanyuntruestatementofamaterialfactoromittostateanymaterialfactrequiredtobestatedthereinornecessarytomakethestatementsthereinnotmisleading,or(b)theProxyStatementwill,atthedateitisfirstmailedormadeavailabletotheCompany'sstockholdersandParent'sstockholders,containanyuntruestatementofamaterialfactoromittostateanymaterialfactrequiredtobestatedthereinornecessaryinordertomakethestatementstherein,inlightofthecircumstancesunderwhichtheyweremade,notmisleading,exceptthatnorepresentationismadebyParentoranyParentSubsidiarywithrespecttostatementsmadeorincorporatedbyreferencethereinbasedoninformationsuppliedbyoronbehalfoftheCompanyoranyCompanyJointVentureinconnectionherewith.TheProxy/S-4willcomply,withrespecttoallinformationregardingParentandtheParentSubsidiaries,astoforminallmaterialrespectswiththerequirementsoftheSecuritiesActandtheExchangeActandtherulesandregulationspromulgatedthereunder,exceptthatnorepresentationismadebyParentoranyParentSubsidiarieswithrespecttoanyotherstatementsmadeorincorporatedbyreferencetherein.

(k) Ownership of Merger Sub; No Prior Activities. MergerSubwasformedsolelyforthepurposeofengaginginthetransactionscontemplatedbythisAgreementandactivitiesincidentalthereto.AlloftheoutstandingcapitalstockofMergerSubis,andattheEffectiveTime,willbeowneddirectlyorindirectlybyParent.ExceptforobligationsorliabilitiesincurredinconnectionwithitsincorporationandascontemplatedbythisAgreement,MergerSubhasnot,andpriortotheEffectiveTimewillnothave,incurred,directlyorindirectlythroughanysubsidiaryoraffiliate,anyobligationsorliabilitiesorengagedinanybusinessactivitiesofanytypeorkindwhatsoeverorenteredintoanyagreementsorarrangementswithanyperson.

(l) Brokers. AsofthedateofthisAgreement,exceptforanysuchfeespayabletoPerellaWeinbergPartnersLP,noneofParentoranyParentSubsidiary,noranyoftheirrespectivestockholders,members,directors,officers,employeesoraffiliates,hasincurredorwillincuronbehalf

37

Page 53: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

ofParentoranyParentSubsidiary,anybrokerage,finders',advisoryorsimilarfeeinconnectionwiththetransactionscontemplatedbythisAgreementforwhichtheCompanywouldhaveanyliabilitypriortotheEffectiveTime.

(m) Ownership of Company Capital Stock. AsofthedateofthisAgreement,exceptasaresultoftheVotingAgreements,noneofParent,theParentSubsidiariesoranyoftheiraffiliatesbeneficiallyowns(withinthemeaningofSection13oftheExchangeActandtherulesandregulationspromulgatedthereunder)anysharesofCompanyCommonStockoranysharesoftheCompany'scapitalstockoranysecurities,contractsorobligationsconvertibleintoorexercisableorexchangeableforsharesofCompanycapitalstock.AsofthedateofthisAgreement,neitherParentnoranyParentSubsidiaryisan"interestedstockholder"oftheCompanysubjecttotherestrictionsonbusinesscombinationsprovidedforunderSection203(c)oftheDGCL.

(n) Parent Common Stock. TheParentCommonStockwhichconstitutestheMergerConsiderationhasbeendulyauthorized,anduponconsummationofthetransactionscontemplatedbythisAgreement,willbevalidlyissued,fullypaidandnonassessable.NovoteofParentStockholdersisrequiredtoapprovetheissuanceofParentCommonStockundertherulesorregulationsoftheNYSEorunderanyotherapplicablelegalrequirements.

(o) Intellectual Property.

(i)TotheknowledgeoftheParent,theParentandtheParentSubsidiariesownallright,titleandinterestinandto,orhavesufficientrightstousepursuanttovalidandenforceablewrittenlicenses,allIntellectualPropertyusedintheoperationoftheParent'soranyParentSubsidiary'sbusinessascurrentlyconducted(collectively,the"Parent Intellectual Property "),freeandclearofallLiens,exceptPermittedLiens;exceptashasnothadandwouldnotreasonablybeexpectedtohave,aParentMaterialAdverseEffect,andprovidedthattheforegoingshallnotbeconstruedasarepresentationofnon-infringement.TotheknowledgeoftheParent,eachoftheParentandtheParentSubsidiarieshastakenreasonableactionstomaintainandprotecttheParentIntellectualPropertyownedbytheParentoranyParentSubsidiaries,includingtheconfidentialityandvalueofitstradesecretsandotherconfidentialinformation,and,asapplicable,requiringpersons,includingcurrentandformeremployees,consultantsandcontractors,thathavedevelopedmaterialsoftwareorothermaterialIntellectualPropertyfortheParentoranyParentSubsidiariestoexecutewrittenagreementspursuanttowhichsuchperson(A)assignsownershiptotheParentorParentSubsidiariesofallsuchIntellectualPropertydevelopedfortheParentorParentSubsidiariesduringthecourseofandwithinthescopeofsuchperson'semploymentorotherengagementwiththeParentoranyParentSubsidiaries(excepttotheextentprohibitedbylaw),and(B)isboundtoprotectandmaintaintheconfidentialityoftheconfidentialinformationoftheParentandtheParentSubsidiaries;except,ineachcase,ashasnothadandwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aParentMaterialAdverseEffect.

(ii)ExceptassetforthonSection 3.02(o)(ii) oftheParentDisclosureLetter,(A)nowrittenclaims,actionsorotherformalproceedingsarependingand,totheknowledgeoftheParent,nonehavebeenassertedinwritingsinceJanuary1,2017againsttheParentoranyParentSubsidiaries,and,totheknowledgeoftheParent,nonehavebeenthreatenedinwriting,byanypersonthat(1)allegethattheParentoranyParentSubsidiariesortheconductofitsortheirbusinesshasinfringedormisappropriatedtheIntellectualPropertyrightsofanyperson,or(2)contesttheuse,ownership,validityorenforceabilityofanyParentIntellectualPropertyownedbytheParentoranyParentSubsidiaries;(B)totheknowledgeoftheParent,neithertheParentnoranyParentSubsidiaries,northeconductofthebusinessoftheParentoranyParentSubsidiaries,has,sinceJanuary1,2017,infringedormisappropriatedanyIntellectualPropertyrightsofanyperson,and(C)totheknowledgeoftheParent,nothirdpartyhas,sinceJanuary1,2017,infringed,misappropriatedorotherwiseviolatedanyParentIntellectualPropertyownedbytheParentorany

38

Page 54: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

ParentSubsidiaries;except,withrespecttoeachofclauses(B)and(C),ashasnothad,andwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aParentMaterialAdverseEffect.

(p) Absence of Certain Changes or Events. SinceMarch31,2019,throughthedateofthisAgreement,(i)Parenthasconducteditsbusinessesinallmaterialrespectsintheordinarycourseofbusinessconsistentwithpastpractice,and(ii)therehasnotbeenanychange,eventordevelopmentthat,individuallyorintheaggregate,hashad,orwouldreasonablybeexpectedtohave,aParentMaterialAdverseEffect.

(q) No Other Representations or Warranties; Non-Reliance on Company Estimates, Projections, Forecasts, Forward-Looking Statements and BusinessPlans. InconnectionwiththeduediligenceinvestigationoftheCompanybyParent,MergerSubandtheParentSubsidiaries,Parent,MergerSubandtheParentSubsidiarieshavereceivedandmaycontinuetoreceivefromtheCompanycertainestimates,projections,forecastsandotherforward-lookinginformation,aswellascertainbusinessplanandcost-relatedplaninformation,regardingtheCompanyanditsbusinessandoperations.Parent,MergerSubandtheParentSubsidiariesherebyacknowledgethatthereareuncertaintiesinherentinattemptingtomakesuchestimates,projections,forecastsandotherforward-lookinginformation,withwhichParent,MergerSubandtheParentSubsidiariesarefamiliar,thatParent,MergerSubandtheParentSubsidiariesaretakingfullresponsibilityformakingtheirownevaluationoftheadequacyandaccuracyofallestimates,projections,forecastsandotherforward-lookinginformation,aswellassuchbusinessplansandcost-relatedplans,sofurnishedtothem.Accordingly,Parent,MergerSubandtheParentSubsidiariesherebyacknowledgethatunlessexpresslyaddressedorincludedinarepresentationandwarrantyinArticleIII,neithertheCompanynoranyofitsstockholders,members,directors,officers,employees,affiliates,advisors,agentsorRepresentatives,noranyotherperson,hasmadeorismakinganyrepresentationorwarrantywithrespecttosuchestimates,projections,forecasts,forward-lookinginformation,businessplansorcost-relatedplans.ExceptfortherepresentationsandwarrantiesoftheCompanycontainedinArticleIII,ParentacknowledgesthatneithertheCompanynoranyRepresentativeoftheCompanymakes,andParentacknowledgesthatithasnotrelieduponorotherwisebeeninducedby,anyotherexpressorimpliedrepresentationorwarrantybyoronbehalfofanyofsuchpersonsorwithrespecttoanyotherinformationprovidedormadeavailabletoParentbyoronbehalfofanysuchpersonsinconnectionwiththetransactionscontemplatedbythisAgreement.

ARTICLE IV COVENANTS

Section4.01 Covenants of the Company. FromandafterthedateofthisAgreementuntiltheEffectiveTime,theCompanycovenantsandagreesastoitself(andshallusereasonablebesteffortstocauseeachoftheCompanyJointVenturestocomplywiththisSection 4.01 )(exceptasexpresslypermittedbythisAgreement,assetforthinSection 4.01 oftheCompanyDisclosureLetter,asrequiredbyapplicablelaw,ortotheextentthatParentshallotherwisepreviouslyconsentinwriting,whichconsentwillnotbeunreasonablywithheld,conditionedordelayed):

(a) Ordinary Course. TheCompanyshall(andshallusereasonablebesteffortstocauseeachoftheCompanyJointVenturesto)conductitsbusinessesinallmaterialrespectsintheordinarycourseofbusinessconsistentwithpastpractice.Withoutlimitingthegeneralityoftheforegoing,theCompanyshall(andshallusereasonablebesteffortstocauseeachoftheCompanyJointVenturesto),usereasonablebestefforts(i)topreserveintactinallmaterialrespectstheirpresentbusinessorganizations(withouthavinganyobligationtoenterintoanyretentionagreements),(ii)tomaintainineffectallexistingmaterialPermits,(iii)maintaintheirmaterialassetsandpropertiesingoodworkingorderandcondition(ordinarywearandtearexcepted),includingtheCompanySystemsinallmaterialrespects,(iv)toprotectandmaintaintheirmaterialCompanyIntellectualPropertythatisownedbythe

39

Page 55: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Company,(v)topreserveitsrightsunderanyagreementwithrespecttoanymaterialIntellectualPropertyin-licensedtoorbytheCompany,and(vii)topreservetheirrelationshipswithGovernmentalAuthorities,materialcustomers,materialsuppliersandotherpersonshavingsignificantbusinessdealingswiththem.

(b) Organizational Documents. TheCompanyshallnotamendorproposetoamenditscertificateofincorporationoritsby-lawsandshallusereasonablebesteffortstocauseeachCompanyJointVenturenottoamendorproposetoamenditscertificateofincorporationoritsby-laws(orothercomparableorganizationaldocuments).

(c) Dividends; Share Reclassifications. TheCompanyshallnot:

(i)declare,setasideorpayanydividendsonormakeotherdistributionsinrespectofanyofitscapitalstockorsharecapital,exceptforthedeclarationandpaymentofdividendsbyadirectorindirectwholly-ownedsubsidiaryoftheCompanysolelytoitsparent;

(ii)split(includingreversesplits),combine,reclassifyortakesimilaractionwithrespectto,directlyorindirectly,anyofitscapitalstockorsharecapitalorissueorauthorizeorproposetheissuanceofanyothersecuritiesinrespectof,inlieuoforinsubstitutionforsharesofitscapitalstockorcomprisedinitssharecapital;

(iii)adoptaplanofcompleteorpartialliquidationorresolutionsprovidingfororauthorizingsuchliquidationoradissolution,merger,consolidation,restructuring,recapitalizationorotherreorganization,exceptwithrespecttointernalreorganizationsbytheCompany'swhollyownedsubsidiaries;or

(iv)adoptastockholderrightsplan.

(d) Share Issuances. TheCompanyshallnot,(A)issue,deliver,grant,sell,pledge,disposeoforencumber,orauthorizetheissuance,delivery,grant,sale,pledge,dispositionorencumbranceof,anycapitalstock,votingsecuritiesorotherequityinterestintheCompanyoranysecuritiesconvertibleintoorexchangeableforanysuchshares,votingsecuritiesorequityinterest,oranyrights,warrantsoroptionstoacquireanysuchshares,votingsecuritiesorequityinterestorany"phantom"stock,"phantom"stockrights,stockappreciationrightsorstockbasedperformanceunitsor(B)directlyorindirectlyredeem,repurchaseorotherwiseacquireanysharesofitscapitalstockoranyOptionwithrespectthereto,otherthaninthecaseof(A)or(B)(i)issuancesofCompanyCommonStockinrespectofanyexerciseofCompanyStockOptionsorCompanyWarrantsorpurchaserightsundertheCompanyESPPorthesettlementofCompanyRestrictedStockUnits,ineachsuchcasethatwereoutstandingasofthedateofthisAgreementand(ii)redemptionsorrepurchasesrequiredbytheCompanyEmployeeStockPlans;

(e) Acquisitions; Capital Expenditures. Exceptfor(i)capitalexpendituresnotinexcessoftheamountsetforthonSection 4.01(e) oftheCompanyDisclosureLetter,(ii)capitalexpendituresincurredinconnectionwiththerepairorreplacementoffacilitiesdestroyedordamagedduetocasualtyoraccident(whetherornotcoveredbyinsurance)afterthedateofthisAgreement,andthenonlytotheextentnecessarytorestoreandresumeordinarycoursefunctionsandoperationsdisruptedasaresultofsuchcasualtyoraccident,and(iii)capitalexpendituresmadeintheordinarycourseofbusinessandconsistentwithpastpractice,theCompanyshallnot,makeanycapitalexpenditures,oracquireoragreetoacquire(whetherbymerger,consolidation,purchase,acquisitionofequityinterestsorassetsorotherwise)anyotherpersonoranyorganizationordivisionofanyotherpersonoranyassetsoutsideoftheordinarycourseofbusinessconsistentwithpastpractice,if(w)inthecaseofanyacquisitionoracquisitionsorseriesofacquisitionsofanyperson,assetorproperty,theexpectedgrossexpendituresandcommitmentspursuanttoallsuchacquisitions(includingtheamountofanyindebtednessassumedinconnectiontherewith)exceedsormayexceed,intheaggregate,$500,000,or(x)inanycase,suchtransactionwouldreasonablybeexpectedtopreventormateriallydelayorimpedetheconsummationoftheMerger.

40

Page 56: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(f) Dispositions. Exceptfor(i)dispositionsofobsoleteequipmentorassetsordispositionsofassetsbeingreplacedintheordinarycourseofbusinessconsistentwithpastpractice,and(ii)thesale,lease,license,assignment,transferofrawmaterials,equipment,suppliesandinventory,inthecase,intheordinarycourseofthebusinessandoncommerciallyreasonableterms,theCompanyshallnot,sell,lease,license,assign,transfer,grantanysecurityinterestinorotherLien(otherthanPermittedLiens)on,failtomaintainorotherwisedisposeoforencumber(A)anyofitsassetsorpropertiesiftheaggregatevalueofallsuchdispositionsexceeds,intheaggregate,$500,000or(B)anymaterialCompanyIntellectualPropertyorCompanySystems.

(g) Indebtedness. TheCompanyshallnot

(i)incur,assumeorotherwisebecomeliablefor,orguaranteeanyindebtednessorenterintoanyContracthavingtheeconomiceffectofanyoftheforegoing(includinganycapitalleases,"synthetic"leasesorconditionalsaleorothertitleretentionagreements)otherthanindebtednessintheordinarycourseofbusinessconsistentwithpastpracticethatindividuallydoesnotexceed$250,000anddoesnotexceed$500,000intheaggregatewithallotherindebtednessincurredafterthedateofthisAgreementandpriortotheClosingDate;

(ii)makeanyloansoradvancestoanyotherperson,otherthanadvancementofexpensestoemployeesintheordinarycourseofbusiness;

(iii)grantorincuranyLien(exceptforanyPermittedLien)thatismaterialtotheCompany;or

(iv)redeem,repurchase,prepay,ormodifyinanymaterialrespectthetermsofanyindebtednessorissueorsellanydebtsecuritiesorcalls,options,warrantsorotherrightstoacquireanydebtsecurities(directly,contingentlyorotherwise).

(h) Employees .

(i)TheCompanyshallnot(i)enterinto,create,adopt,amendorterminateanymaterialCompanyEmployeeBenefitPlan,orotheragreement,arrangement,planorpolicybetweentheCompanyandoneormoreofitsdirectors,officersoremployees,(ii)exceptfornormalincreasesfornon-executivesandnon-directorsintheordinarycourseofbusinessconsistentwithpastpractice(whichincreaseshallnotexceed20%ofeachsuchnon-executive'sannualcompensationasofthedateofthisAgreement),increaseinanymannertheannualcompensationorbenefitsofanydirector,executiveofficerorotheremployee,(iii)exceptfornormalsalaryandwagepaymentsintheordinarycourseofbusiness,payanybenefitorvestoracceleratethefundingofanypaymentorbenefitnotrequiredbyanyplanorarrangementineffectasofthedateofthisAgreementanddisclosedtoParent;or(iv)hireorterminate(withoutcause)anyofficer,executiveoremployee(withannualbasecompensationexceeding$175,000);provided ,however ,thattheforegoingshallnotrestricttheCompanyfromenteringintoormakingavailabletonewlyhirednon-executiveandnon-officeremployeesagreements,benefitsandcompensationarrangements(includingnon-equityincentivegrants)solongas:thetotalannualbasecompensationofanysuchemployeedoesnotexceed$175,000,individually,andtheaggregateadditionalcompensationpaidtoallsuchnewlyhiredemployeesdoesnotexceed$1,000,000;

(ii)Exceptasrequiredbyapplicablelaws,enterinto,adopt,amend,terminateorextendanycollectivebargainingContract,oranysimilaragreementwithanyunion,workscouncilorsimilaremployeerepresentativebody;or

(iii)makeanywidespreadcommunicationwiththeemployeesoftheCompany(otherthancommunicationtoemployeesmadeinconnectionwiththeannouncementoftheexecutionofthisAgreement),ormakeanycommitmentstoanyemployeesregardingthecompensation,benefitsorothertreatmenttheywillreceiveinconnectionwiththeMerger.

41

Page 57: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(i) Accounting. TheCompanyshallnot,makeanychangesinitsaccountingmethodsmateriallyaffectingthereportedconsolidatedassets,liabilitiesorresultsofoperationsoftheCompany,exceptasrequiredbyachangeinlaworGAAP.

(j) Insurance. TheCompanyshallmaintainwithfinanciallyresponsibleinsurancecompaniesinsuranceincommerciallyreasonableamountsinamannerconsistentwithpastpractice.

(k) Taxes. Exceptasrequiredbyapplicablelaw,theCompanyshallnotmakeorchangeanymaterialTaxelection,changeanymaterialannualaccountingperiod,adoptorchangeanymaterialmethodofTaxaccounting,fileanyamendedincomeTaxReturnorothermaterialamendedTaxReturn,enterintoanymaterialclosingagreement,surrenderanyrighttoclaimamaterialrefundofTaxes,offsetorotherreductioninmaterialTaxliability,orconsenttoanyextensionorwaiverofthelimitationsperiodapplicabletoanymaterialTaxclaimorassessment.

(l) Claims .

(i)TheCompanyshallnotwaive,release,assign,settleorcompromiseanyclaim,actionorproceedingagainsttheCompany,otherthanwaivers,releases,assignments,settlementsorcompromisesthatinvolveonlythepaymentofmonetarydamages(A)thatdonotexceed$250,000individuallyor$500,000intheaggregatebetweenthedateofthisAgreementandtheClosingDateor(B)wheresuchmonetarydamages(otherthanwithrespecttothecostofthedeductible)willbecoveredbyanyinsurancepoliciesoftheCompanyortheCompanyJointVentures,asapplicable

(ii)TheCompanyshallnot,commenceanyclaim,actionorproceedingagainstanypersonfor(A)recourseotherthanformonetarydamages,(B)wheremonetarydamagesexceed$250,000individuallyor$500,000intheaggregatebetweenthedateofthisAgreementandtheClosingDate,or(C)theCompanyreasonablydeterminesingoodfaiththatfailuretocommencealegalproceedingwouldresultinamaterialimpairmentofavaluableaspectofthebusiness(providedthattheCompanyconsultswithParentandconsiderstheviewsandcommentsofParentwithrespecttosuchlegalproceeding).

(m) Contracts and Policy. (i)TheCompanyshallnot,negotiate,amend,extend,renew,terminateorenterinto,oragreetoanyamendmentormodificationof,orwaive,releaseorassignanyrightsunder,anyCompanyMaterialContract,anyContractthatwouldhavebeenaCompanyMaterialContracthaditbeenenteredintopriortothedateofthisAgreementoranyLease;or(ii)exceptasrequiredbylaw,makeanymaterialchangestoanyPrivacyPolicy.

(n) Subsidiaries. TheCompanyshallnotacquire,formorpermittoexist(asasubsidiaryoftheCompany)anydirectorindirectsubsidiary.

(o)WithoutinanywaylimitinganyoftheforegoingprovisionssetforthinSection 4.01(a) throughSection 4.01(n) ,theCompanyshallnotauthorizeanyof,orcommitoragreetotake,whetherinwritingorotherwise,anyoftheactionsthattheCompanyhasagreednottotakepursuanttoSection 4.01(a) throughSection 4.01(n) ,andshallusereasonablebesteffortstocausetheCompanyJointVenturesnottoauthorizeanyof,orcommitoragreetotake,whetherinwritingorotherwise,anyoftheactionsthattheCompanyhasagreedtousereasonablebesteffortstocausetheCompanyJointVenturesnottotakeunderthisSection 4.01.

NotwithstandingtheaboveSection 4.01 ,nothingcontainedinthisAgreementshallgiveParent,directlyorindirectly,rightstocontrolordirecttheoperationsoftheCompanypriortotheEffectiveTime.PriortotheEffectiveTime,Companyshallexercise,consistentwiththetermsandconditionsofthisAgreement,completecontrolandsupervisionoveritsoperations.

42

Page 58: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Section4.02 Parent Dividends. Parentshallnotdeclare,setasideorpayanydividendsonormakeotherdistributionsinrespectofanyofitscapitalstockorsharecapital,exceptforstockdividendsthatwouldresultinanadjustmentpursuanttoSection 2.02(h) .

Section4.03 Other Actions. SubjecttothetermsandconditionssetforthinthisAgreement,includingSection 5.03 ,theCompanyandParentshallcooperatewitheachotheranduse(andshallcausetheirrespectivesubsidiariestouse)theirrespectivereasonablebesteffortstotakeorcausetobetakenallactions,anddoorcausetobedoneallthings,reasonablynecessary,properoradvisableonits(ortheir)partunderthisAgreementandapplicablelawto(i)consummateandmakeeffectivetheMergerassoonaspracticableand(ii)causethesatisfactionofallconditionssetforthinArticle VI .

Section4.04 Company Non-Solicitation.

(a)ExceptasexpresslypermittedbythisSection 4.04 ,fromandafterthedateofthisAgreementuntiltheearliesttooccurof(A)theEffectiveTimeand(B)theterminationofthisAgreementinaccordancewithArticle VII ,theCompanyshallnot,andshallusereasonablebesteffortstocauseitsRepresentativesnotto,directlyorindirectly,(i)solicit,initiateorknowinglyencourageorknowinglyfacilitateanyinquiries,offersorthemakingofanyproposalorannouncementthatconstitutesorcouldreasonablybeexpectedtoleadtoanyCompanyTakeoverProposal,(ii)engagein,continueorotherwiseparticipateinanynegotiationsordiscussionswithanythirdparty(otherthanParentorMergerSubortheirrespectiveRepresentatives)regardinganyCompanyTakeoverProposaloranyinquiry,indicationofinterest,proposalorofferthatcouldreasonablybeexpectedtoleadtoaCompanyTakeoverProposal,(iii)furnishanynonpublicinformationregardingtheCompany(orCompanyJointVentures)toanyperson(otherthanParentorMergerSubortheirrespectiveRepresentatives)inconnectionwithorinresponsetoanyCompanyTakeoverProposaloranyinquiry,indicationofinterest,proposalorofferthatcouldreasonablybeexpectedtoleadtoaCompanyTakeoverProposal,(iv)adopt,approve,recommend,submittostockholdersordeclareadvisableanyCompanyTakeoverProposal,(v)releaseorpermitthereleaseofanyprovisionofanyconfidentiality,standstill,orsimilarprovisionofanyagreementtowhichtheCompanyisaparty(exceptthattheCompanymaywaivesucha"standstill"orsimilaragreementorobligationsolelytopermitapersonprivatelytomakeaCompanyTakeoverProposaltotheCompanyBoardiftheCompanyBoardhasdeterminedingoodfaithafterconsultationwiththeCompany'soutsidelegalcounselthatthefailuretotakesuchactionwouldreasonablybelikelytoresultinabreachofthefiduciarydutiesofthemembersoftheCompanyBoardunderDelawarelaw),(vi)approveanytransactionunder,oranypersonbecomingan"interestedstockholder"under,Section203oftheDGCL,(vii)enterintoaletterofintent,agreementinprinciple,memorandumofunderstanding,mergeragreement,assetorsharepurchaseorshareexchangeagreement,optionagreement,confidentialityagreement,ineachcase,withrespecttoaCompanyTakeoverProposal,or(viii)resolveoragreetodoanyoftheforegoing.TheCompanyshall(I)promptly(andinnoeventlaterthanoneBusinessDayafterreceipt)notifyParentinwritingofthereceiptofanyCompanyTakeoverProposal(oranyrequestforinformation,discussionsornegotiationsforaccesstothepropertiesorbooksandrecordsoftheCompanyinconnectionwithaCompanyTakeoverProposal)afterthedateofthisAgreement,whichnoticeshallincludetheidentityofthepersonmakingsuchCompanyTakeoverProposal,thematerialtermsthereof(includingthepriceandtypeofconsiderationofferedbythepersonmakingsuchCompanyTakeoverProposal)andacopyofanydocumentationrelatingtotheCompanyTakeoverProposalreceivedbytheCompanyoranyofitsRepresentativesinconnectiontherewithorareasonablydetailedsummarythereofifnotmadeinwriting(the"Proposal Information ")and(II)keepParentreasonablyinformedonareasonablycurrentbasisofthestatusandmaterialdetails(includinganymaterialdevelopments(includinganychangestothepriceandtypeofconsiderationofferedandanyothermaterialchangetotheterms))withrespecttosuchCompanyTakeoverProposal.

(b)Notwithstandingtheforegoing,atanytimepriorto,butnotafter,obtainingtheCompanyStockholderApproval,theCompanymaytakethefollowingactions(solongastheCompanycomplies

43

Page 59: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

withtheprovisionsofthisSection 4.04(b) ):(i)furnishnonpublicinformationregardingtheCompanyto,or(ii)enterintoorparticipateindiscussionsornegotiationswith,anyperson(andsuchperson'sRepresentatives)inresponsetoanunsolicited,bonafide,writtenCompanyTakeoverProposal(thatisnotwithdrawn)madeafterthedateofthisAgreementthattheCompanyBoardconcludesingoodfaith,afterconsultationwithitsfinancialadvisorsandoutsidelegalcounsel,constitutesorwouldreasonablybeexpectedtoleadtoaCompanySuperiorProposal;provided ,thatineachcaseofclauses(i)and(ii)above(A)suchCompanyTakeoverProposaldidnotresultfromabreachofthisSection 4.04 ,(B)theCompanyBoardthereofconcludesingoodfaiththat,afterconsultationwithitsoutsidelegalcounsel,thefailuretotakesuchactionwouldbereasonablylikelytoresultinabreachofitsfiduciarydutiesunderapplicablelaw,and(C)theCompanyhasreceived(andprovidedacopytoParent)fromthepersonmakingsuchCompanyTakeoverProposalanexecutedconfidentialityagreementbetweentheCompanyandsuchpersoncontainingtermsandconditionsthatarenolessfavorabletotheCompany,intheaggregate,thanthosecontainedintheConfidentialityAgreement,datedasofJuly8,2019(the"Confidentiality Agreement ")(excludinganystandstillprovisions),betweenParentandtheCompany.TheCompanyshallpromptly(andinanyeventwithintwentyfour(24)hours)makeavailabletoParentanditsRepresentativesanynonpublicinformationconcerningtheCompanythatisprovidedtothepersonmakingsuchCompanyTakeoverProposaloritsRepresentativesthatwasnotpreviouslymadeavailabletoParentoritsRepresentatives.ForpurposesofthisAgreement,"Company Takeover Proposal "meansanybona fide proposalorofferfromanypersonor"group"(asdefinedinorunderSection13(d)oftheExchangeAct)(otherthanParentorMergerSubortheirrespectiveRepresentatives)relatingto(i)anydirectorindirectacquisitionorpurchaseofabusinessthatconstitutesorgenerates15%ormoreoftherevenuesorassets(includingequitysecurities)oftheCompanyoranyassetsrepresenting15%ormoreoftheconsolidatedassetsoftheCompany,(ii)anydirectorindirectacquisitionorpurchaseof15%ormoreofanyclassofvotingsecuritiesoftheCompany,(iii)anytenderofferorexchangeofferthatifconsummatedwouldresultinanypersonbeneficiallyowning15%ormoreofanyclassofvotingsecuritiesoftheCompany,(iv)anymerger,consolidation,businesscombination,recapitalization,reorganizationorothersimilartransactionpursuanttowhichtheholdersofCompanyCommonStockimmediatelyprecedingsuchtransactionhold,directlyorindirectly,(A)lessthan85%oftheequityinterestsinthesurvivingorresultingentityofsuchtransactionor(B)businessesorassetsthatconstitutelessthan85%oftheconsolidatedrevenueorassetsoftheCompanyor(v)anyliquidation,dissolutionorsimilartransactioninvolvingtheCompany.TheCompanyagreesthatintheeventanyofitscontrolledaffiliatesorRepresentativestakesanyactionwhich,iftakenbytheCompany,wouldconstituteabreachofthisSection 4.04 ,theCompanyshallbedeemedtobeinbreachofthisSection 4.04 .

(c)UpontheexecutionofthisAgreement,theCompany(i)shall,andshallusereasonablebesteffortstocauseitsRepresentativesto,immediatelyceaseandterminateanyexistingactivities,discussionsornegotiationsbetweentheCompanyoranyofitsaffiliatesorsubsidiariesoranyoftheirrespectiveRepresentatives,ontheonehand,andanyotherperson,ontheotherhand(otherthanParent,MergerSubandeachoftheirrespectiveRepresentatives)thatrelatetoanyCompanyTakeoverProposal,(ii)shallimmediatelyterminatetheaccessofanythirdpersontoanyelectronicorphysicaldataroom(s)hostedbytheCompanyoranyofitsaffiliatesorRepresentativesrelatingtoaCompanyTakeoverProposal,and(iii)shalluseitsreasonablebestefforts,includingthroughtheexerciseofanycontractualrights,toobtainthepromptreturnordestructionofanyconfidentialinformationpreviouslyfurnishedtosuchpersonswithintwelve(12)monthsofthedateofthisAgreement,subjecttoanycontractualrightsexistingasofthedateofthisAgreementtoretaincopies.

(d)SubjecttoSection 4.04(e) andSection 4.04(f) ,noneoftheCompany,theCompanyBoardoranycommitteeoftheCompanyBoardmay:(i)withhold,withdraw,qualifyormodify,orpubliclyproposetowithhold,withdraw,qualifyormodifytheCompanyBoardRecommendationinamanneradversetoParent,(ii)failtoincludetheCompanyBoardRecommendationintheProxy/S-4,(iii)approve,endorse,recommendorotherwisedeclareadvisable(publiclyorotherwise)orproposeto

44

Page 60: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

approve,endorseorrecommend,orotherwisedeclareadvisable(publiclyorotherwise)anyCompanyTakeoverProposal,or(iv)failtopubliclyreaffirmtheCompanyBoardRecommendationwithinten(10)BusinessDaysafterParentsorequestsinwriting;provided,that,withrespecttothisclause(iv)only,aCompanyTakeoverProposalshallhavebeenpubliclyannouncedandnotpubliclywithdrawnpriortosuchrequestbyParent(anyoftheforegoinginclauses(i)or(iii)above,a"Company Change of Recommendation ").

(e)NotwithstandinganythinginthisAgreementtothecontrary,theCompanyBoardmay,priortothereceiptoftheCompanyStockholderApproval,effectaCompanyChangeofRecommendationorterminatethisAgreementpursuanttoSection 7.01(h) inrespectofaCompanyTakeoverProposalif(andonlyif):(A)awrittenCompanyTakeoverProposalismadetotheCompanyafterthedateofthisAgreementandhasnotbeenwithdrawn;(B)suchCompanyTakeoverProposaldidnotresultfromabreachofSection 4.04 ;(C)theCompanyBoarddeterminesingoodfaithafterconsultationwithitsfinancialadvisorsandoutsidelegalcounselthat(1)suchCompanyTakeoverProposalconstitutesaCompanySuperiorProposaland(2)failuretotakesuchactionwouldreasonablybelikelytoresultinabreachoftheCompanyBoard'sfiduciarydutiesunderapplicablelaw;(D)theCompanyprovidesParentfourBusinessDays'(the"Recommendation ChangeNotice Period ")priorwrittennoticethatifattheexpirationoftheRecommendationChangeNoticePeriod,suchCompanyTakeoverProposalcontinuestobeaCompanySuperiorProposal,itintendstotakesuchaction(a"Recommendation Change Notice "),whichnoticeshallincludetheProposalInformation(itbeingunderstoodthat(x)suchRecommendationChangeNoticeandanyamendmentorupdatetosuchnoticeandthedeterminationtosodeliversuchnoticeshallnotconstituteaCompanyChangeofRecommendationforpurposesofthisAgreementand(y)anymaterialrevisionoramendmenttothetermsofanyCompanySuperiorProposal(including,anychangetothepricingthereof)shallrequireanewRecommendationChangeNotice,exceptthattheRecommendationChangeNoticePeriodshallbereducedtotwoBusinessDaysaftertheinitialRecommendationChangeNoticePeriod);(E)duringtheRecommendationChangeNoticePeriod,theCompanygivesParenttheopportunitytoproposerevisionstothetermsofthisAgreement(ortomakeanewproposal)andnegotiatesingoodfaithwithParentanditsRepresentatives,ifrequestedbyParent,regardinganyadjustmentsormodificationstothetermsofthisAgreementorwithrespecttoParent'snewproposal;and(F)attheendoftheRecommendationChangeNoticePeriod(andanysubsequentRecommendationChangeNoticePeriods),theCompanyBoardagainmakesthedeterminationingoodfaith,afterconsultationwithitsoutsidelegalcounselandfinancialadvisors(andaftertakingintoaccountanyadjustmentsormodificationsproposedbyParentduringanyRecommendationChangeNoticePeriod),(1)thatsuchCompanyTakeoverProposalcontinuestobeaCompanySuperiorProposaland(2)thatthefailuretotakesuchactionwouldreasonablybelikelytoresultinabreachofitsfiduciarydutiesunderapplicablelaw.

(f)NotwithstandinganythinginthisAgreementtothecontrary,theCompanyBoardmay,priortothereceiptoftheCompanyStockholderApproval,effectaCompanyChangeofRecommendationinrespectofanInterveningEventif(andonlyif):(A)anInterveningEventhasoccurredandiscontinuing;(B)suchInterveningEventdidnotresultfromabreachofSection 4.04 ;(C)theCompanyBoarddeterminesingoodfaithafterconsultationwithitsfinancialadvisorsandoutsidelegalcounselthat(1)suchInterveningEventhasoccurredandiscontinuingand(2)failuretotakesuchactionwouldreasonablybelikelytoresultinabreachoftheCompanyBoard'sfiduciarydutiesunderapplicablelaw;(D)theCompanyprovidesParentpriorwrittennoticeequaltotheRecommendationChangeNoticePeriodthatifattheexpirationoftheRecommendationChangeNoticePeriod,suchInterveningEventiscontinuing,itintendstotakesuchaction(a"Intervening Event Recommendation Change Notice "),whichnoticeshallincludeareasonablesummaryoftheInterveningEvent(itbeingunderstoodthat(x)suchInterveningEventRecommendationChangeNoticeandanyamendmentorupdatetosuchnoticeandthedeterminationtosodeliversuchnoticeshallnotconstituteaCompanyChangeofRecommendationforpurposesofthisAgreementand(y)anymaterialchangetothestatusoftheInterveningEventshallrequireanewInterveningEventRecommendationChangeNotice,

45

Page 61: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

exceptthattheRecommendationChangeNoticePeriodshallbereducedtotwoBusinessDaysaftertheinitialRecommendationChangeNoticePeriod);(E)duringtheRecommendationChangeNoticePeriod,theCompanygivesParenttheopportunitytoproposerevisionstothetermsofthisAgreement(ortomakeanewproposal)andnegotiatesingoodfaithwithParentanditsRepresentatives,ifrequestedbyParent,regardinganyadjustmentsormodificationstothetermsofthisAgreementorwithrespecttoParent'snewproposal;and(F)attheendoftheRecommendationChangeNoticePeriod(andanysubsequentRecommendationChangeNoticePeriods),theCompanyBoardagainmakesthedeterminationingoodfaith,afterconsultationwithitsoutsidelegalcounselandfinancialadvisors(andaftertakingintoaccountanyadjustmentsormodificationsproposedbyParentduringanyRecommendationChangeNoticePeriod),(1)thatsuchInterveningEventiscontinuingandremainsineffectand(2)thatthefailuretotakesuchactionwouldreasonablybelikelytoresultinabreachofitsfiduciarydutiesunderapplicablelaw.

(g)CertainDefinitions.

(i)ForpurposesofthisAgreement,"Company Superior Proposal "meansanybonafide,writtenCompanyTakeoverProposal(thatisnotwithdrawn),andthattheCompanyBoarddeterminesingoodfaith,afterconsultationwithitsfinancialadvisorsandoutsidelegalcounsel,(x)isreasonablylikelytobeconsummatedinaccordancewithitsterms,and(y)ifconsummated,wouldbemorefavorabletotheCompany'sstockholdersfromafinancialpointofviewthantheMergerandtheothertransactionscontemplatedbythisAgreement,takingintoaccountallfinancial,legal,regulatory,financing,certaintyandtimingofconsummationandotheraspectsofsuchproposal(includinganychangestothefinancialorothertermsofthisAgreementortheMergerproposedbyParent),exceptthat(A)thereferencesto15%inthedefinitionof"CompanyTakeoverProposal"forpurposesofthisSection 4.04 shalleachbedeemedtobeareferenceto50.01%,and(B)thereferencesto85%inthedefinitionof"CompanyTakeoverProposal"forpurposesofthisSection 4.04 shalleachbedeemedtobeareferenceto49.99%.

(ii)ForpurposesofthisAgreement,an"Intervening Event "meansaChangethat(A)isunknowntoandisnotreasonablyforeseeablebytheCompanyortheCompanyBoardasofthedateofthisAgreementand(B)becomesknowntotheCompanyBoardpriortoobtainingtheCompanyStockholderApprovaland(C)doesnotrelateto(I)aCompanyTakeoverProposal,(II)ChangesinthemarketpriceortradingvolumeoftheCompanyCommonStockorParentCommonStock(buttheunderlyingfactsoreventscontributingtotheChangesinthemarketpriceortradingvolumecanbetakenintoaccountindeterminingwhetheranInterveningEventhasoccurred)(III)thetimingofanyapprovalorclearanceofanyGovernmentalAuthorityrequiredfortheconsummationoftheMergeror(IV)thefactthat,inandofitself,theCompanyexceedsinternalorpublishedprojectionsorParentdoesnotachieveinternalorpublishedprojections(buttheunderlyingfactsoreventscausingtheresultscanbetakenintoaccountindeterminingwhetheranyInterveningEventhasoccurred).

(h)NothingcontainedinthisSection 4.04 orelsewhereinthisAgreementshallprohibittheCompanyortheCompanyBoard,directlyorindirectlythroughitsRepresentatives,from(i)disclosingtotheCompany'sstockholdersapositioncontemplatedbyRule14e-2(a)orRule14d-9promulgatedundertheExchangeActor(ii)makinganydisclosuretoitsstockholdersiftheCompanyBoardhasdetermined,afterconsultationwithoutsidelegalcounsel,thatthefailuretodosowouldbeinconsistentwithapplicablelaw;provided ,however ,thatifsuchdisclosurerelatestoaCompanyTakeoverProposal,anydisclosuremadepursuanttoclause(i)or(ii)ofthisSection 4.04(h) (otherthananydisclosuremadeinconnectionwithaCompanyChangeofRecommendationpermittedbySection 4.04(e) orSection 4.04(f) ),shallbedeemedtoconstituteaCompanyChangeofRecommendationunlesstheCompanyBoardshallexpresslypubliclyreaffirmtheCompanyBoardRecommendationinsuchdisclosure(itbeingunderstood,however,thatthedisclosureofa"stop,lookandlisten"noticeofthe

46

Page 62: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

typecontemplatedbyRule14d-9(f)promulgatedundertheExchangeActinandofitselfshallnotbedeemedaCompanyChangeofRecommendation).

ARTICLE V ADDITIONAL AGREEMENTS

Section5.01 Special Meeting; Preparation of the Proxy/S-4.

(a)AssoonasreasonablypracticablefollowingthedateofthisAgreement,(i)theCompanyshallprepareandcausetobefiledwiththeSECtheProxyStatementinpreliminaryform,and(ii)ParentshallprepareandcausetobefiledwiththeSEC,theProxy/S-4withrespecttotheParentCommonStockissuablepursuanttotheMerger,whichwillincludetheProxyStatementwithrespecttotheCompanySpecialMeeting,withsuchfilingstobemadeasmutuallyagreedbyParentandtheCompanyingoodfaith.PriortotheFormS-4beingdeclaredeffective,(1)theCompanyshalluseitsreasonablebesteffortstoexecuteanddelivertoCompany'sCounselandtoParent'sCounseltheapplicable"TaxRepresentationLetter"referencedinSection 5.14(b) ;and(2)ParentshalluseitsreasonablebesteffortstoexecuteanddelivertoParent'sCounselandtoCompany'sCounseltheapplicable"TaxRepresentationLetter"referencedinSection 5.14(b) .FollowingthedeliveryoftheTaxRepresentationLetterspursuanttotheprecedingsentence,(x)theCompanyshalluseitsreasonablebesteffortstocauseCompany'sCounseltodelivertoitataxopinionsatisfyingtherequirementsofItem601ofRegulationS-KundertheSecuritiesAct;and(y)ParentshalluseitsreasonablebesteffortstocauseParent'sCounseltodelivertoitataxopinionsatisfyingtherequirementsofItem601ofRegulationS-KundertheSecuritiesAct.Inrenderingsuchopinions,Company'sCounselandParent'sCounselshalleachbeentitledtorelyontheTaxRepresentationLettersreferredtointhisSection 5.01 andSection 5.14(b) .EachoftheCompanyandParentshalluseitsreasonablebesteffortsto(A)havetheProxy/S-4declaredeffectiveundertheSecuritiesActaspromptlyaspracticableaftersuchfiling,(B)ensurethattheProxy/S-4compliesinallmaterialrespectswiththeapplicableprovisionsoftheExchangeActorSecuritiesAct,and(C)keeptheProxy/S-4effectiveforsolongasisnecessarytocompletetheMerger.TheCompanyshallfurnishallinformationconcerningitself,itsaffiliatesandtheholdersofitssharestotheotherandprovidesuchotherassistanceasmaybereasonablyrequestedinconnectionwiththepreparation,filinganddistributionoftheProxy/S-4andtheProxyStatement.TheProxy/S-4andtheProxyStatementshallincludeallinformationreasonablyrequestedbysuchotherpartytobeincludedtherein.EachoftheCompanyandParentshallpromptlynotifytheotheruponthereceiptofanycommentsfromtheSECoranyrequestfromtheSECforamendmentsorsupplementstotheProxy/S-4ortheProxyStatement,andshall,aspromptlyaspracticableafterreceiptthereof,providetheotherwithcopiesofallcorrespondencebetweenitanditsRepresentatives,ontheonehand,andtheSEC,ontheotherhand,andallwrittencommentswithrespecttotheProxyStatementortheProxy/S-4receivedfromtheSECandadvisetheotherpartyofanyoralcommentswithrespecttotheProxyStatementortheProxy/S-4receivedfromtheSEC.EachoftheCompanyandParentshalluseitsreasonablebesteffortstorespondaspromptlyaspracticabletoanycommentsfromtheSECwithrespecttotheProxyStatement,andParentshalluseitsreasonablebesteffortstorespondaspromptlyaspracticabletoanycommentfromtheSECwithrespecttotheProxy/S-4.Notwithstandingtheforegoing,priortofilingtheProxy/S-4(oranyamendmentorsupplementthereto)ormailingtheProxyStatement(oranyamendmentorsupplementthereto)orrespondingtoanycommentsoftheSECwithrespectthereto,eachoftheCompanyandParentshallcooperateandprovidetheotherareasonableopportunitytoreviewandcommentonsuchdocumentorresponseinadvance(includingtheproposedfinalversionofsuchdocumentorresponse).ParentshalladvisetheCompany,promptlyafteritreceivesnoticethereof,ofthetimeofeffectivenessoftheProxy/S-4,theissuanceofanystoporderrelatingtheretoorthesuspensionofthequalificationoftheParentCommonStockissuableinconnectionwiththeMergerforofferingorsaleinanyjurisdiction,andParentshalluseitsreasonablebesteffortstohaveanysuchstoporderorsuspensionlifted,reversedorotherwiseterminated.ParentshallalsotakeanyotheractionrequiredtobetakenbyitundertheSecuritiesAct,theExchangeAct,

47

Page 63: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

anyapplicableforeignorstatesecuritiesor"bluesky"lawsandtherulesandregulationsthereunderinconnectionwiththeissuanceofParentCommonStockinconnectionwiththeMerger,andtheCompanyshallfurnishallinformationconcerningtheCompanyandtheholdersoftheSharesasmaybereasonablyrequestedinconnectionwithanysuchactions.TheCompanyagreesthatnomattersshallbebroughtbeforetheCompanySpecialMeetingotherthantheproposaltoobtaintheCompanyStockholderApproval,therelated"goldenparachute"voteunderRule14a-21(c)oftheExchangeActandanyrelatedandcustomaryproceduralmatters(includingaproposaltoadjournthemeeting,ifnecessary,tosolicitadditionalproxiesforthepurposeofobtainingtheCompanyStockholderApproval).TheCompanyshallkeepParentinformedonareasonablycurrentbasisregardingitssolicitationeffortsandproxytalliesfollowingthedisseminationoftheProxyStatementtotheholdersoftheShares;provided ,thattheCompanyshall,upontherequestofParent,useitsreasonablebesteffortstocausetheapplicableproxysolicitoroftheCompanytoadviseParentonanotlessthandailybasisduringthelastten(10)BusinessDayspriortothedateoftheCompanySpecialMeetingastotheaggregatetallyoftheproxiesreceivedbytheCompanywithrespecttotheCompanyStockholderApproval.

(b)If,atanytimepriortothereceiptoftheCompanyStockholderApproval,anyinformationrelatingtotheCompanyorParent,oranyoftheirrespectiveaffiliatesisdiscoveredbytheCompanyorParentwhich,inthereasonablejudgmentoftheCompanyorParent,shouldbesetforthinanamendmentof,orasupplementto,theProxy/S-4and/ortheProxyStatement,sothatanyofsuchdocumentswouldnotincludeanymisstatementofamaterialfactoromittostateanymaterialfactnecessarytomakethestatementstherein,inlightofthecircumstancesunderwhichtheyweremade,notmisleading,thepartywhichdiscoverssuchinformationshallpromptlynotifytheotherparty,andtheCompanyandParentshallcooperateinthepromptfilingwiththeSECofanynecessaryamendmentof,orsupplementto,theProxyStatementortheProxy/S-4and,totheextentrequiredbylaw,indisseminatingtheinformationcontainedinsuchamendmentorsupplementtothestockholdersoftheCompanyandthestockholdersofParent.NothinginthisSection 5.01(b) shalllimittheobligationsofanypartyunderSection 5.01(a) .ForpurposesofthisSection 5.01 ,anyinformationconcerningorrelatedtotheCompany,itsaffiliatesortheCompanySpecialMeetingwillbedeemedtohavebeenprovidedbytheCompany,andanyinformationconcerningorrelatedtoParentoritsaffiliateswillbedeemedtohavebeenprovidedbyParent.

(c)AspromptlyaspracticableaftertheProxy/S-4isdeclaredeffectiveundertheSecuritiesAct,theCompanyshallcausetheProxyStatementtobemailedtoitsstockholdersentitledtovoteattheCompanySpecialMeeting,andshallcausetheCompanySpecialMeetingtobeheldassoonasreasonablypracticablefollowingsuchmailing(butinnoeventmorethanthelongerof30daysor20BusinessDaysafterthedateofsuchmailing).

(d)TheCompanyshall(i)takeallnecessaryactionstoestablisharecorddatefor,andtodulycall,givenoticeof,andconvenetheCompanySpecialMeetinginaccordancewithapplicablelawandtheCompanycertificateofincorporationandby-lawsand(ii)includetheCompanyBoardRecommendationintheProxyStatement,maintainsuchCompanyBoardRecommendationandsolicitanduseitsreasonablebesteffortstoobtaintheCompanyStockholderApproval;exceptinthecaseofclause(ii)totheextentthattheCompanyBoardshallhavemadeaCompanyChangeofRecommendationaspermittedby(andsolelypursuanttothetermsof)Section 4.04 .UnlessthisAgreementhasbeenterminatedinaccordancewithitsterms,theCompany'sobligationtoestablisharecorddatefor,call,givenoticeof,andconvenetheCompanySpecialMeetinginaccordancewiththisSection 5.01(d) shallnotbelimitedorotherwiseaffectedbythemaking,commencement,disclosure,announcementorsubmissionofanyCompanyTakeoverProposalorCompanySuperiorProposal,bytheoccurrenceofanInterveningEventorbyanyCompanyChangeofRecommendation.

(e)TheCompanyshalladjournorpostponetheCompanySpecialMeetingif,asofthetimeforwhichsuchmeetingisoriginallyscheduled,thereareinsufficientShares,represented(eitherinperson

48

Page 64: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

orbyproxy)toconstituteaquorumnecessarytoconductthebusinessofsuchmeeting,orifonthedateofsuchmeeting,theCompanyhasnotreceivedproxiesrepresentingasufficientnumberofsharesnecessarytoobtaintheCompanyStockholderApprovaland,excepttotheextentthattheCompanyBoardshallhavemadeaCompanyChangeofRecommendationaspermittedby(andsolelypursuanttothetermsof)Section 4.04 ,theCompanyshallcontinuetouseallreasonablebesteffortstoassistinthesolicitationofproxiesfromstockholdersrelatingtotheCompanyStockholderApproval.

Section5.02 Access to Information; Confidentiality; Effect of Review.

(a) Access. FromthedateofthisAgreementtotheEffectiveTime,theCompanyshall,andshallcauseitscontrolledaffiliatesandeachofitsandtheirrespectiveRepresentativestousetheirrespectivereasonablebesteffortsto:(i)providetoParentandMergerSubandtheirrespectiveRepresentatives,atParent'sexpense,reasonableaccessduringnormalbusinesshoursinsuchamannerasnottointerfereunreasonablywiththeoperationofthebusinessconductedbyCompany,orcreatematerialriskofdamageordestructiontoanymaterialassetsorproperty,uponpriorwrittennoticetotheCompany(subjecttosupervisionbyCompanypersonnel),totheofficers,employees,auditors,properties,officesandotherfacilitiesoftheCompanyandtothebooksandrecordsthereof;and(ii)furnishpromptlytoParentandMergerSubandtheirrespectiveRepresentativessuchinformationconcerningthebusiness,properties,contracts,assetsandliabilitiesoftheCompanyasParentandMergerSubortheirrespectiveRepresentativesmayreasonablyrequest;provided ,further ,thattheCompanyshallnotberequiredtoaffordsuchaccessorfurnishsuchinformationtotheextentthattheCompanybelievesingoodfaiththatdoingsowould:(A)resultinalossofattorney-clientprivilegeorwork-productprotection;(B)violateanyobligationsoftheCompanywithrespecttoconfidentialitytoanythirdpartyorotherwisebreach,contraveneorviolateanytheneffectiveContracttowhichtheCompanyisaparty;or(C)breach,contravene,orviolateanyapplicablelaw;provided ,further ,thattheCompanyshalluseitsreasonablebesteffortstoobtainanyconsentsofthirdpartiesthatarenecessarytoallowsuchinformationtobedisclosedtoParent,MergerSubandtheirrespectiveRepresentativesandshallotherwiseuseitsreasonablebesteffortstoallowforsuchaccessordisclosureinamannerthatdoesnotresultinabreachofclauses(A),(B)or(C),includingpursuanttotheuseof"cleanroom"arrangementspursuanttowhichRepresentativesofParentcouldbeprovidedaccesstosuchinformation.ParentandtheCompanymay,aseachdeemsadvisableandnecessary,reasonablydesignateanycompetitivelysensitivematerialtobeprovidedtotheotherunderthisSection 5.02 as"OutsideCounselOnlyMaterial."Suchmaterialsandinformationcontainedthereinshallbegivenonlytotheoutsidecounseloftherecipientandwillnotbedisclosedbysuchoutsidecounseltoemployees,officersordirectorsoftherecipientunlessexpresspermissionisobtainedinadvancefromthesourceofthematerials(ParentortheCompany,asthecasemaybe)oritslegalcounsel.AnyinvestigationshallbesubjecttoCompany'sreasonablesecuritymeasuresandinsurancerequirementsandshallnotincludeinvasivetesting.

(b)TotheextentthatanyoftheinformationormaterialfurnishedpursuanttothisSection 5.02 orotherwiseinaccordancewiththetermsofthisAgreementmayincludematerialsubjecttotheattorney-clientprivilege,workproductdoctrineoranyotherapplicableprivilegeconcerningpendingorthreatenedlegalproceedingsorgovernmentalinvestigations,thepartiesunderstandandagreethattheyhaveacommonalityofinterestwithrespecttosuchmattersanditistheirdesire,intentionandmutualunderstandingthatthesharingofsuchmaterialisnotintendedto,andshallnot,waiveordiminishinanywaytheconfidentialityofsuchmaterialoritscontinuedprotectionundertheattorney-clientprivilege,workproductdoctrineorotherapplicableprivilege.Allsuchinformationthatisentitledtoprotectionundertheattorney-clientprivilege,workproductdoctrineorotherapplicableprivilegeshallremainentitledtosuchprotectionundertheseprivileges,thisAgreement,andunderthejointdefensedoctrine.AllinformationprovidedpursuanttoSection 5.02(a) shallbesubjecttotheapplicabletermsoftheConfidentialityAgreement.

49

Page 65: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Section5.03 Regulatory Matters; Reasonable Best Efforts .

(a)OnthetermsandsubjecttotheconditionsofthisAgreement,eachpartyshalluseitsreasonablebesteffortstocausetheClosingtooccur,includingusingreasonablebesteffortstotakeallactionsreasonablynecessarytocomplypromptlywithalllegalrequirementsandnationalsecuritiesexchangerequirementsthatmaybeimposedonitoritssubsidiarieswithrespecttotheClosing.WithoutlimitingtheforegoingortheprovisionssetforthinSection 5.03(b) (andsubjecttothetermsandlimitationsinSection 5.03(b) ),eachpartyshalluseitsreasonablebesteffortstocausetheClosingtooccuronorpriortotheTerminationDate.

(b)EachoftheCompanyandParentshallaspromptlyaspracticablebutinnoeventlaterthanten(10)BusinessDaysfollowingtheexecutionanddeliveryofthisAgreement,fileorcausetobefiledwiththeUnitedStatesFederalTradeCommission(the"FTC ")andtheUnitedStatesDepartmentofJustice(the"DOJ")thenotificationandreportform,ifany,requiredforthetransactionscontemplatedherebyandanysupplementalinformationrequestedinconnectiontherewithpursuanttotheHSRActandshallaspromptlyasreasonablypracticableprovideanysupplementalinformationthatreasonablymayberequestedbyapplicableGovernmentalAuthoritiesrelatingthereto.EachoftheCompanyandParentshallconsultwithoneanother(andtheirrespectiveadvisers)astotheformandcontentofanynotificationandreportform,filing,orsupplementalinformationsuppliedtoanyGovernmentalAuthority,andallowtheCompanyorParent,asapplicable(andtheirrespectiveadvisers)toreviewthesame(asmayberedactedtoremoveanyestimateofthevaluationoftheCompany,itsbusinessorshares,ortopreserveanyapplicableprivilege)inadvanceofsubmissionandmakesuchamendmentsaseithermayreasonablyrequest.EachoftheCompanyandParentshallfurnishtotheothersuchnecessaryinformationandreasonableassistanceastheothermayrequestinconnectionwithitspreparationofanyfilingorsubmissionthatisnecessaryundertheHSRAct.TheCompanyandParentshallkeepeachotherapprisedofthestatusofanycommunicationswith,andanyinquiriesorrequestsforadditionalinformationfrom,theFTC,theDOJandanyotherapplicableGovernmentalAuthorityandshallrespondaspromptlyasreasonablypracticabletoanysuchinquiryorrequestandshallaspromptlyasreasonablypracticableprovideanysupplementalinformationreasonablyrequestedinconnectionwiththefilingsmadehereunderpursuanttotheHSRAct,and,totheextentpermittedbyanyGovernmentalAuthority:(i)totheextentreasonablypracticable,informeachpartypriortoallmaterialcommunications(includingmaterialtelephonecallsandmeetings)withaGovernmentalAuthority,(ii)alloweitherpartytheopportunitytoparticipateinanysuchcallsandmeetingstotheextentreasonablypracticable,and(iii)alloweachparty(andtheirrespectiveadvisers)toreviewanymaterialwrittencommunicationsbeforesubmissionandtomakesuchamendmentstosuchcommunicationsaseithertheCompanyorParentmayreasonablyrequest.Eachpartyshallprovidetheother(andtheiradvisers)withafinalcopyofanysupplementalinformationsubmittedtoandanyothermaterialwrittencommunicationswithanyGovernmentalAuthority,totheextentpermittedbylaw.EachpartyshalluseitsreasonablebesteffortstoobtainanyclearancerequiredundertheHSRActfortheconsummationofthetransactionscontemplatedbythisAgreement,includingpursuanttoarequestforanearlyterminationofthewaitingperiodthereunder.ParentshallpaytheHSRfilingfee.

(c)Notwithstandinganythinghereintothecontrary,nothinghereinshallrequireParent,itssubsidiariesoraffiliates(A)topropose,commit,offertocommitorotherwiseeffect,byundertaking,consentdecree,holdseparateorderorotherwise,tothesale,divestiture,licenseordispositionofanyassetsorbusinessesofParentoritssubsidiariesoraffiliatesoroftheCompanyortheCompanyJointVentures,orotherwiseofferorcommittotakeanyaction(includinganyactionthatlimitsthefreedomofaction,ownershiporcontrolwithrespectto,orabilitytoretainorhold,anyofthebusiness,assets,productlines,propertiesorservicesofParentoritssubsidiariesoraffiliatesoroftheCompanyortheCompanyJointVentures),(B)toopposeanymotionoractionforatemporary,preliminaryorpermanentinjunctionagainsttheMergeroranyportionthereof,includinganylegislative,administrativeorjudicialaction,ortotakeanystepstohavevacated,lifted,reversed,overturned,

50

Page 66: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

avoided,eliminatedorremovedanydecree,judgment,injunctionorotherorder(whethertemporary,preliminaryorpermanent)thatrestricts,preventsorprohibitstheconsummationoftheMergeroranyothertransactionscontemplatedbythisAgreementundertheHSRActor(C)toagreetoortakeanyactionthat,individuallyorintheaggregate,wouldhaveamaterialadverseeffectonParentortheCompanyandtheirrespectivesubsidiariesandaffiliates,takenasawhole,followingtheconsummationofthetransactionscontemplatedhereby.TheCompanyshallnotagreetotake,ortake,anyoftheactionscontemplatedbyclauses(A)through(C)immediatelyabovewithoutthepriorwrittenconsentofParent.

(d)Noneofthepartiesshallknowinglytake,causeorpermittobetakenoromittotakeanyactionwhichsuchpartyreasonablyexpectsislikelytodelaypasttheTerminationDateorpreventconsummationoftheMerger,unlessotherwiseagreedtobytheparties.

(e)InadditiontotheobligationsunderSection 5.03(b) ,eachofParentandtheCompanyshalluseitsreasonablebesteffortstoobtain,andtocooperateinobtaining,allConsentsfromthirdparties,includingGovernmentalAuthorities(otherthanpursuanttoeffortswithrespecttotheHSRActreferencedinSection 5.03(b) ),necessaryorappropriatetopermittheconsummationoftheMergerandtoprovide,andcooperateinproviding,noticesto,andmakeorfile,andcooperateinthemakingorfilingof,registrations,declarationsorfilingswith,thirdpartiesrequiredtobeprovidedpriortotheEffectiveTime;provided ,however ,thatnopartyshallberequiredtopayorcommittopayanysignificantamountto(orincuranysignificantliabilityorobligationinfavorof)anythirdpartythatisnotaGovernmentalAuthorityfromwhomanysuchConsent,notice,registration,declarationorfilingmayberequired(otherthannominalfilingorapplicationfees).

(f)WithoutlimitingthegeneralityoftheforegoingsubsectionsofSection 5.03 ,theCompanyshall(i)takeallactionnecessarytoensurethatnoTakeoverLaw(andtogetherwithanyotheranti-takeoverprovisionsetforthintheCompany'scertificateofincorporationoritsbylaws,the"Takeover Provisions "),orTakeoverProvisionisorbecomesapplicabletotheMerger,thisAgreementoranyoftheothertransactionscontemplatedbythisAgreementand(ii)ifanyTakeoverLaworTakeoverProvisionbecomesapplicabletotheMerger,thisAgreementoranyothertransactioncontemplatedbythisAgreement,takeallactionnecessarytoensurethattheMergerandtheothertransactionscontemplatedbythisAgreementmaybeconsummatedaspromptlyasreasonablypracticableonthetermscontemplatedbythisAgreementandotherwisetominimizetheeffectofsuchTakeoverLaworTakeoverProvisionontheMergerandtheothertransactionscontemplatedbythisAgreement.

Section5.04 Indemnification, Exculpation and Insurance .

(a)EachofParentandtheCompanyagreesthat,tothefullestextentpermittedunderapplicablelaw,allrightstoindemnification,advancementofexpensesandexculpationfromliabilitiesforactsoromissionsoccurringatorpriortotheEffectiveTimenowexistinginfavorofthecurrentorformerdirectorsandofficersoftheCompany,asprovidedinitscertificateofincorporation,by-lawsorotheragreementsprovidingindemnification,advancementorexculpation,shallsurvivetheMergerandshallcontinueinfullforceandeffectinaccordancewiththeirterms,thatParentshallcausetheSurvivingCorporationtohonorallsuchrightsandthatforsix(6)yearsfromandaftertheEffectiveTime,nosuchprovisioninanycertificateorarticlesofincorporation,by-laws(orcomparableorganizationaldocument)orotheragreementshallbeamended,modifiedorrepealedinanymannerthatwouldmateriallyandadverselyaffecttherightsorprotectionsthereundertoanysuchindividualwithrespecttoactsoromissionsoccurringatorpriortotheEffectiveTime.

(b)Forsix(6)yearsfromandaftertheEffectiveTime,theSurvivingCorporationshallmaintainorobtaindirectors'andofficers'liabilityinsurancepoliciescoveringactsoromissionsoccurringonorpriortotheEffectiveTimewithrespecttothosepersonswhoarecurrentlycoveredbytheCompany'srespectivedirectors'andofficers'liabilityinsurancepoliciesontermswithrespecttosuchcoverageandinamountsnolessfavorabletotheCompanyIndemnifiedPartiesthanthosesetforthintherelevant

51

Page 67: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

policyineffectonthedateofthisAgreement;provided ,thattheannualcostthereofshallnotexceed300%oftheannualcostofsuchpoliciesasofthedateofthisAgreement.Ifsuchinsurancecoveragecannotbemaintainedforsuchcost,Parentshallmaintainthemostadvantageouspoliciesofdirectors'andofficers'insuranceotherwiseobtainableforsuchcost.PriortotheEffectiveTime,theCompanymaypurchaseasix-year"tail"prepaidpolicyontermsandconditionsnolessfavorabletotheCompanyIndemnifiedPartiesthantheexistingdirectors'andofficers'liabilityinsurancemaintainedbytheCompany,coveringwithoutlimitationthetransactionscontemplatedhereby;provided ,thattheaggregatecostthereofshallnotexceed300%oftheannualcostofthedirectors'andofficers'liabilityinsurancemaintainedbytheCompanyasofthedateofthisAgreementassetforthinSection 5.04(b) oftheCompanyDisclosureLetter.Ifsuch"tail"prepaidpolicyhasbeenobtainedbytheCompanypriortotheEffectiveTime,itshallsatisfytheobligationssetforthinthefirsttwosentencesofthisparagraph(b).Parentmay,atitssolediscretion,purchasea"tail"insurancepolicywithrespecttotheCompany'semploymentpracticeliability,fiduciaryliability,cyberliability,productliabilityandanyotherinsurancecoverageforliabilityand,ifParentdeterminestopurchasesuchinsurancepolicyorpolicies,theCompanyshallcooperatewithParentinobtainingsuchpolicyorpoliciesontermsandconditionsacceptabletoParent,itbeingunderstoodthatthecostsofallsuchtailpoliciesshallbebornebyParent.

(c)Forsix(6)yearsfromandaftertheEffectiveTime,Parentshall,andshallcausetheSurvivingCorporationto,indemnifyandholdharmlesseachpresentdirectorandofficeroftheCompany(ineachcase,foractsorfailurestoactinsuchcapacity),determinedasofthedateofthisAgreement,andanypersonwhobecomessuchadirectororofficerbetweenthedateofthisAgreementandtheEffectiveTime(collectively,the"Company Indemnified Parties "),againstanycostsorexpenses(includingreasonableattorneys'fees,costsandexpenses),judgments,fines,losses,claims,amountspaidinsettlement,damagesorliabilitiesincurredinconnectionwithanyclaim,action,suit,proceedingorinvestigation,whethercivil,criminal,administrativeorinvestigative,arisingoutoforrelatingtomattersexistingoroccurringatorpriortotheEffectiveTime,whetherassertedorclaimedpriorto,atoraftertheEffectiveTime(includinganymattersarisinginconnectionwiththetransactionscontemplatedbythisAgreement),tothefullestextentpermittedbyapplicablelawandtheSurvivingCorporationshallalsoadvanceexpenses(includingreasonableattorneys'fees,costsandexpenses)tosuchpersonsasincurredtothefullestextentpermittedunderapplicablelaw;provided ,thatthepersontowhomexpensesareadvancedprovidesanundertakingtorepaysuchadvancesifitisultimatelydeterminedthatsuchpersonisnotentitledtoindemnification.

(d)TheprovisionsofthisSection 5.04 are(i)intendedtobeforthebenefitof,and,fromandaftertheEffectiveTime,willbeenforceableby,eachoftheCompanyIndemnifiedPartiesand(ii)inadditionto,andnotinsubstitutionfororinlimitationof,anyotherrightstoindemnification,advancementofexpenses,exculpationorcontributionthatanysuchpersonmayhavebycontractorotherwise.

(e)IntheeventParentortheSurvivingCorporationoranyoftheirrespectivesuccessorsorassigns(i)consolidateswithormergesintoanyotherpersonandshallnotbethecontinuingorsurvivingcorporationorentityofsuchconsolidationormergeror(ii)transfersallorsubstantiallyallofitspropertiesandassetstoanyperson,then,andineachsuchcase,properprovisionshallbemadesothatthesuccessorsandassignsofParentortheSurvivingCorporation,asthecasemaybe,shallassumetheobligationssetforthinthisSection 5.04 .

Section5.05 Fees and Expenses. ExceptasprovidedinthisSection 5.05 ,andSection 7.03 ,andwhetherornottheMergerisconsummated,allfeesandexpensesincurredinconnectionwiththeMerger,thisAgreementandthetransactionscontemplatedbythisAgreementshallbepaidbythepartyincurringsuchfeesorexpenses,whetherornottheMergerisconsummated.

52

Page 68: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Section5.06 Public Announcements. Except(A)asmayberequiredbyapplicablelaworanylistingagreementwithanationalsecuritiesexchange,inwhichcase,totheextentreasonablypracticableandaspermittedbyapplicablelaw,reasonablebesteffortstoconsultwiththeotherpartyheretoshallbemadepriortoanysuchreleaseorpublicstatementor(B)inconnectionwithanyactionsbytheCompanyorCompanyBoardpermittedbySection 4.04(e) orinconnectionwithanyCompanySuperiorProposalreceivedbytheCompany,orParent'sresponsethereto,theCompanyandParentshall,andshallcausetheirsubsidiariesto,consultwitheachotherbeforeissuinganypressrelease,makinganyotherpublicstatementorschedulinganypressconferenceorconferencecallwithinvestorsoranalystswithrespecttothisAgreementorthetransactionscontemplatedbythisAgreementand,exceptforanypublicstatementorpressreleaseasmayberequiredbyapplicablelaw,orderofacourtofcompetentjurisdictionoranylistingagreementwithorruleoftheNYSEorNasdaq,shallnot,andshallcausetheirsubsidiariesnotto,issueanysuchpressrelease,makeanysuchotherpublicstatementorscheduleanysuchpressconferenceorconferencecallbeforethatconsultationandprovidingeachothertheopportunitytoreviewandcommentuponanysuchpressreleaseorpublicstatement.TheinitialpressreleaseofthepartiesannouncingtheexecutionofthisAgreementshallbeajointpressreleaseofParentandtheCompanyinaformthatismutuallyagreed.

Section5.07 Stockholder Litigation. IntheeventthatanystockholderlitigationrelatedtothisAgreement,theMergerortheothertransactionscontemplatedbythisAgreementisbroughtagainsttheCompanyand/orthemembersoftheCompanyBoardafterthedateofthisAgreementandpriortotheEffectiveTime(the"Transaction Litigation "),theCompanyshallpromptlyafteracquiringknowledgethereofnotifytheotherpartyofanysuchTransactionLitigationandshallkeepParentreasonablyinformedonacurrentbasiswithrespecttothestatusthereof.Parentshallhavetheright,atitssolediscretion,toparticipatein(butnotcontrol)thedefenseofsuchlitigationand,inanyevent,theCompanyshallnotsettle,compromise,cometoanarrangementregardingoragreetosettle,compromiseorcometoanarrangementregardinganyTransactionLitigation,withoutParent'spriorwrittenconsent.

Section5.08 Section 16 Matters. PriortotheEffectiveTime,eachofParentandtheCompanyBoard,oranappropriatecommitteeofnon-employeedirectorsthereof,shall,asapplicable,beentitledtotakeallsuchstepsasmaybereasonablynecessaryoradvisable,totheextentpermittedbyapplicablelaw,tocauseanydispositionsofCompanyequitysecurities(includingderivativesecurities)andacquisitionsofParentequitysecuritiespursuanttothetransactionscontemplatedbythisAgreementbyeachindividualwhoisadirectororofficeroftheCompanysubjecttothereportingrequirementsofSection16(a)oftheExchangeActwithrespecttotheCompanytobeexemptunderRule16b-3promulgatedundertheExchangeAct.

Section5.09 Stock Exchange Listing; Delisting .

(a)ParentshallcausethesharesofParentCommonStocktobeissuedpursuanttotheMergertobeapprovedforlistingontheNYSE,subjecttoofficialnoticeofissuance,priortotheClosingDate.

(b)PriortotheClosing,uponParent'srequest,theCompanyshalltakeallreasonableactionstocausethedelistingofCompanyCommonStockfromtheNasdaqandtheterminationoftheCompany'sregistrationundertheExchangeActassoonaspracticablefollowingtheEffectiveTime.

Section5.10 Resignations. TheCompanywillusereasonablebesteffortstoobtainandcausetobedeliveredtoParentresignationsexecutedbyeachdirectoroftheCompanyinofficeasofimmediatelypriortotheEffectiveTimeandeffectiveupontheEffectiveTime.

Section5.11 Employee Matters.

(a)TheCompanyBoardshalladoptresolutionsterminating,effectivenolaterthanthedayimmediatelypriortotheClosingDate(the"401(k) TerminationDate "),anyandall401(k)plansmaintainedbytheCompany,unlessParentprovideswrittennoticetotheCompanyatleastthree

53

Page 69: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

BusinessDayspriortotheEffectiveTimethatsuch401(k)plan(s)shallnotbeterminated.TheCompanyshallprovideParentevidencethatthe401(k)plan(s)oftheCompanyhavebeenterminatedpursuanttosuchresolutionsoftheCompanyBoard.TheformandsubstanceofsuchresolutionsshallbesubjecttothereasonablereviewandapprovalofParent(suchapprovalnottobeunreasonablywithheld,conditionedordelayed).AssoonaspracticablefollowingtheClosingDate,ParentshallpermitallContinuingEmployeeswhowereeligibletoparticipateinany401(k)planmaintainedbytheCompanyimmediatelypriortothe401(k)TerminationDatetoparticipateinParent's401(k)plan,andshallpermiteachsuchContinuingEmployeetoelecttotransferhisorheraccountbalancewhendistributedfromanyterminated401(k)planmaintainedbytheCompany,includinganyoutstandingparticipantloansfromsuch401(k)plans,toParent's401(k)plan,excepttotheextentacceptingsuchtransferswouldadverselyaffectthetax-qualifiedstatusoftheParent401(k)plan,orasmaybeprohibitedbyParent's401(k)plan.

(b)FromandaftertheEffectiveTime,ParentshallpermitallContinuingEmployeeswhobecomeemployeesofParentoranysubsidiaryofParenttoparticipateintheemployeebenefitprogramsofParentortheapplicablesubsidiarytothesameextentassimilarlysituatedemployeesofParentorsuchapplicablesubsidiary.FollowingtheEffectiveTime,Parentshall,orshallcauseanysubsidiaryofParent,includingtheSurvivingCorporationto,recognizethepriorservicewiththeCompanyofContinuingEmployeesinconnectionwithallemployeebenefitplans,programsorpoliciesofParentoritssubsidiariesinwhichContinuingEmployeesareeligibletoparticipatefollowingtheEffectiveTimeforpurposesofeligibilityandvestinganddeterminationoflevelofbenefits(includingvacation),includingapplicabilityofminimumwaitingperiodsforparticipation,(butnotforpurposesofbenefitaccrualsunderanydefinedbenefitpensionplan,retireemedicalbenefitplanoranyotherbenefitplanunderwhichsimilarlysituatedemployeesofParentdonotreceivecreditforpriorservice,ortotheextentthatsuchrecognitionwouldresultinduplicationofbenefitsorwasnotrelevantforanysuchpurposeunderthecorrespondingCompanyEmployeeBenefitPlan).Intheseregards,forpurposesofdeterminingtheannualdeductible,co-payandout-of-pocketexpenselimitationunderitshealthplanduringthecalendaryearinwhichContinuingEmployeesbecomecoveredundersuchplan,ParentwillusereasonablebesteffortstocredithealthplanexpensesincurredbyContinuingEmployeesunderanemployeebenefitplanfortheportionofsuchplanyearpriortobecomingcoveredunderaParenthealthplanasthoughtheywereincurredundertheParenthealthplan.ParentshallusereasonablebesteffortstoprovidethatnosuchContinuingEmployee,oranyofhisorhereligibledependents,who,attheEffectiveTime,areparticipatingintheCompany'sgrouphealthplanshallbeexcludedfromParent'sgrouphealthplan,orlimitedincoveragethereunder,byreasonofanywaitingperiodrestrictionorpre-existingconditionlimitation.

(c)TheprovisionsofthisSection 5.11 aresolelyforthebenefitofthepartiestothisAgreement.Nocurrentorformerdirector,officer,employeeorotherserviceprovideroranyotherpersonshallbeathird-partybeneficiaryofthisAgreement,andnothinghereinshallbeconstruedasanamendmenttoanybenefitplanmaintainedbyParent,anyCompanyEmployeeBenefitPlanorothercompensationorbenefitplanorarrangementforanypurpose.WithoutlimitingthegeneralityoftheforegoinginthisSection 5.11 ,nothingcontainedinthisAgreementshallotherwiseobligateParent,theCompanyoranyoftheirrespectiveaffiliatesto(i)maintainanyparticularbenefitplanor(ii)retaintheemploymentorservicesofanycurrentorformerdirector,employeeorotherserviceprovider.

Section5.12 Notification of Certain Matters. TheCompanyshallgivepromptnoticetoParentof(a)theoccurrenceornon-occurrenceofanyeventwhoseoccurrenceornon-occurrence,asthecasemaybe,wouldreasonablybeexpectedtocauseanyconditionsetforthinSection 6.03 nottobesatisfiedatanytimefromthedateofthisAgreementtotheEffectiveTime;(b)anynoticeorothercommunicationfromanythirdpersonallegingthattheconsentofsuchthirdpersonisormayberequiredinconnectionwiththeMergerortheothertransactionscontemplatedbythisAgreement;and(c)anymaterialregulatorynotice,reportorresultsofinspectionfromtheFDAoranysimilar

54

Page 70: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

GovernmentalAuthority.ParentshallgivepromptnoticetotheCompanyof(i)theoccurrenceornon-occurrenceofanyeventwhoseoccurrenceornon-occurrence,asthecasemaybe,wouldreasonablybeexpectedtocauseanyconditionsetforthinSection 6.02 nottobesatisfiedatanytimefromthedateofthisAgreementtotheEffectiveTime;and(ii)anynoticeorothercommunicationfromanythirdpersonallegingthattheconsentofsuchthirdpersonisormayberequiredinconnectionwiththeMergerortheothertransactionscontemplatedbythisAgreement.NotwithstandinganythinginthisAgreementtothecontrary,nosuchnotificationshallaffecttherepresentations,warranties,covenantsoragreementsofthepartiesheretoortheconditionstotheobligationsofthepartiesheretohereunder.TheCompanyandParentshall,totheextentpermittedbylaw,promptlyprovidetheotherwithcopiesofallfilingsmadebysuchpartywithanyGovernmentalAuthorityinconnectionwiththisAgreementandthetransactionscontemplatedbythisAgreement.

Section5.13 Company Debt. Atleasttwo(2)BusinessDayspriortotheClosingDate,theCompanywillusereasonablebesteffortstodelivertoParentapayoffletterandallotherreleases,instrumentsofdischargeandsimilardocumentationrequiredtoeffectorevidencethereleasedescribedinclause(ii)below(collectively,the"Payoff Letter "),incustomaryform,tobeexecutedanddeliveredasoftheClosingbyOrbimedRoyaltyOpportunitiesII,LP(the"Orbimed ")undertheCreditAgreement,datedMarch20,2017,byandbetweentheCompanyandOrbimed(the"Credit Agreement "),whichshall(i)indicatethetotalamountnecessaryfortheCompanytorepayanddischargeinfullallamountsoutstandingpursuanttothetermsoftheCreditAgreement(otherthanforcustomaryindemnityobligationsthatexpresslysurvivebytheirterms)(suchamount,the"Payoff Amount "),(ii)providefortherelease,uponpaymentofthePayoffAmountatClosing(orreplacement,cashcollateralizationorbackstopofexistinglettersofcreditandotherbankservices),ofallliensofOrbimedsecuringobligationsundertheCreditAgreementoverthepropertiesandassetsoftheCompany(otherthananycashthatisusedtocashcollateralizeexistinglettersofcreditorotherbankservices,ifapplicable)thatconstitutecollateralundertheCreditAgreementandanyequityinterestsoftheCompanythatconstitutecollateralundertheCreditAgreementand(iii)evidencetheterminationorothersatisfaction,uponpaymentofthePayoffAmountatClosing(orreplacement,cashcollateralizationorbackstopofexistinglettersofcreditorbankservices),ofallobligationsundertheCreditAgreement(otherthanforcustomaryindemnityobligationsthatexpresslysurvivebytheirterms).SubstantiallyconcurrentlywiththeEffectiveTime,Parentwillrepayanddischarge(orprovidethefundstotheCompanytorepayanddischarge)thePayoffAmountinaccordancewiththePayoffLetter.

Section5.14 Certain Tax Matters .

(a)Noneofthepartiesheretoshall(andeachpartyshallcauseitsrespectivesubsidiariesnotto)knowinglytakeanyaction(orknowinglyfailtotakeanyreasonableaction)whichaction(orfailuretoact)wouldreasonablybeexpectedtopreventorimpedetheMergerfromqualifyingasa"reorganization"withinthemeaningofSection368(a)oftheCode.Thepartiesheretointendtoreportand,excepttotheextentotherwiserequiredbyadeterminationassuchtermisusedinSection1313oftheCode,shallreport,forU.S.federalincometaxpurposes,theMergerasa"reorganization"withinthemeaningofSection368(a)oftheCode.NoneofthepartiesheretoshalltakeanyTaxreportingpositioninconsistentwiththecharacterizationoftheMergerasa"reorganization"withinthemeaningofSection368(a)oftheCodeexcepttotheextentotherwiserequiredbyadeterminationassuchtermisusedinSection1313oftheCode.

(b)Eachofthepartiesheretoshallcooperateingoodfaithandusetheirreasonablebesteffortsto,andcausetheirsubsidiariesto,delivertoO'Melveny&MyersLLP("Parent's Counsel ")andCooleyLLP("Company's Counsel "),atsuchtimeortimesasrequestedbytheCompany'sCounselorParent'sCounsel,aletter(suchletters,the"Tax Representation Letters ")signedbyanofficerofParentandMergerSubortheCompany,asapplicable,withrespecttoParentandMergerSub,thatissubstantiallyintheformsetforthinExhibit C ,and,withrespecttotheCompany,thatissubstantially

55

Page 71: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

intheformsetforthinExhibit D .TheCompanyshalluseitsreasonablebesteffortstoobtaintheopinionoftheCompany'sCounselreferredtoinSection 6.02(d) .ParentandMergerSubshallusetheirreasonablebesteffortsto,andcausetheirsubsidiariesto,obtaintheopinionofParent'sCounselreferredtoinSection 6.03(d).

ARTICLE VI CONDITIONS PRECEDENT

Section6.01 Conditions to Each Party's Obligation to Effect the Merger. TherespectiveobligationofeachpartytoeffecttheMergerissubjecttothesatisfactionorwaiverbytheCompanyandParentonorpriortotheEffectiveTimeofthefollowingconditions:

(a) Stockholder Approval. TheCompanyStockholderApprovalshallhavebeenobtained.

(b) No Injunctions or Restraints. No(i)temporaryrestrainingorderorpreliminaryorpermanentinjunctionorotherorder,ineachcase,byanycourtofcompetentjurisdictionpreventing,prohibiting,restraining,enjoiningorrenderingillegaltheconsummationoftheMergerortheothertransactionscontemplatedbythisAgreementshallhavebeenissuedandbecontinuingineffector(ii)applicablelawofaGovernmentalAuthorityofcompetentjurisdictionshallbeineffectprohibitingorrenderingillegaltheconsummationoftheMergerortheothertransactionscontemplatedbythisAgreement.

(c) Antitrust Approval. Anyapplicablewaitingperiod(orextensionsthereof)undertheHSRActrelatingtothetransactionscontemplatedbythisAgreementshallhaveexpiredorbeenterminatedandallpre-closingapprovalsorclearancesrequiredthereundershallhavebeenobtained

(d) Proxy/S-4. TheProxy/S-4shallhavebeendeclaredeffectivebytheSECundertheSecuritiesActandnostopordersuspendingtheeffectivenessoftheProxy/S-4shallhavebeenissuedbytheSECandremainineffectandnoproceedingsforthatpurposeshallhavebeeninitiatedorthreatenedinwritingbytheSEC.

Section6.02 Conditions to Obligations of the Company. TheobligationoftheCompanytoeffecttheMergerisfurthersubjecttosatisfactionorwaiveratorpriortotheEffectiveTimebytheCompanyofthefollowingadditionalconditions:

(a) Representations and Warranties. (i)TherepresentationsandwarrantiesofParentandMergerSubsetforthinclauses(i)through(iii)ofSection 3.02(b) (CapitalStock),Section 3.02(a) (OrganizationandQualification—thefirstsentenceonly),Section 3.02(c) (Authority),andSection 3.02(l)(Brokers)shallbetrueandcorrect(withoutgivingeffecttoanylimitationasto"materiality"or"ParentMaterialAdverseEffect"setforththerein)inallmaterialrespects,and(ii)eachoftheotherrepresentationsandwarrantiesofParentandMergerSubsetforthhereinshallbetrueandcorrect(withoutgivingeffecttoanylimitationasto"materiality"or"ParentMaterialAdverseEffect"setforththerein,excludingforthispurposeclause(ii)ofSection 3.02(p) )),exceptwherethefailureofsuchotherrepresentationsandwarrantiestobesotrueandcorrectdoesnothave,andwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aParentMaterialAdverseEffect,inthecaseofclauses(i)and(ii),asoftheClosingDate,asifmadeonandasofsuchtime(excepttotheextentexpresslymadeasofanearlierdate,inwhichcaseasofsuchdate).

(b) Performance of Obligations of Parent and Merger Sub. EachofParentandMergerSubshallhaveperformedinallmaterialrespectsallobligationsrequiredtobeperformedbyitunderthisAgreementatorpriortotheEffectiveTime.

(c) Closing Certificates. TheCompanyshallhavereceivedacertificatesignedbyanexecutiveofficerofParent,datedtheClosingDate,totheeffectthattheconditionssetforthinSection 6.02(a) ,Section 6.02(b) ,Section 6.02(d) ,andSection 6.02(f) havebeensatisfied.

56

Page 72: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(d) Tax Opinion. TheCompanyshallhavereceivedthewrittenopinionoftheCompany'sCounsel,datedasoftheClosingDate,totheeffectthattheMergerwillqualifyasa"reorganization"withinthemeaningofSection368(a)oftheCode;provided, however ,thatiftheCompany'sCounseldoesnotrendersuchopinion,thisconditionwillnonethelessbedeemedsatisfiedifParent'sCounselshallrendersuchopiniontotheCompany.Inrenderingsuchopinion,theCompany'sCounselorParent'sCounsel,asappropriateshallbeentitledtorelyupontherepresentationscontainedintheTaxRepresentationLettersofParentandtheCompanyreferredtoinSection 5.14(b) heretoanduponsuchotherrepresentations,assumptionsandqualificationsasthecounselrenderingsuchtaxopinionreasonablydeemsrelevant.

(e) Listing. ThesharesofParentCommonStockissuableasMergerConsiderationpursuanttothisAgreementshallhavebeenapprovedforlistingontheNYSE,subjecttoofficialnoticeofissuance.

(f) No Material Adverse Effect. SincethedateofthisAgreement,thereshallnothavebeenanychange,effect,event,occurrence,developmentorstateoffactsthat,individuallyorintheaggregatehashadorwouldreasonablybeexpectedtohaveaParentMaterialAdverseEffectthatiscontinuing.

Section6.03 Conditions to Obligations of Parent and Merger Sub. TheobligationofeachofParentandMergerSubtoeffecttheMergerissubjecttosatisfactionorwaiveronorpriortotheEffectiveTimebyParentofthefollowingadditionalconditions:

(a) Representations and Warranties. (i)TherepresentationsandwarrantiesoftheCompanysetforthinclauses(i)through(iii)ofSection 3.01(b) (CapitalStock)shallbetrueandcorrect(withoutgivingeffecttoanylimitationasto"materiality"or"CompanyMaterialAdverseEffect"setforththerein)exceptforinaccuraciesthatwouldnotincreasethedollarvalueofParentCommonStocktobeissuedbymorethan$1,500,000,(ii)therepresentationsandwarrantiesoftheCompanysetforthinSection 3.01(a) (OrganizationandQualification)(thefirstsentenceonly),Section 3.01(c) (Authority),Section 3.01(r) (VoteRequired),Section 3.01(u) (TakeoverLawsInapplicable)andSection 3.01(x) (Brokers)shallbetrueandcorrect(withoutgivingeffecttoanylimitationasto"materiality"or"CompanyMaterialAdverseEffect"setforththerein)inallmaterialrespects,and(iii)eachoftheotherrepresentationsandwarrantiesoftheCompanysetforthhereinshallbetrueandcorrect(withoutgivingeffecttoanylimitationasto"materiality"or"CompanyMaterialAdverseEffect"setforththerein,excludingforthispurposeclause(ii)ofSection 3.01(f) )exceptwherethefailureofsuchotherrepresentationsandwarrantiestobesotrueandcorrectdoesnothave,andwouldnotreasonablybeexpectedtohave,individuallyorintheaggregate,aCompanyMaterialAdverseEffect,inthecaseofclauses(i)through(iii),asoftheClosingDate,asifmadeonandasofsuchtime(excepttotheextentexpresslymadeasofanearlierdate,inwhichcaseasofsuchdate).

(b) Performance of Obligations of the Company. TheCompanyshallhaveperformedinallmaterialrespectsallobligationsrequiredtobeperformedbyitunderthisAgreementatorpriortotheEffectiveTime.

(c) No Material Adverse Effect. SincethedateofthisAgreement,thereshallnothavebeenanychange,effect,event,occurrence,developmentorstateoffactsthat,individuallyorintheaggregatehashadorwouldreasonablybeexpectedtohaveaCompanyMaterialAdverseEffectthatiscontinuing.

(d) Tax Opinion. ParentshallhavereceivedthewrittenopinionofParent'sCounsel,datedasoftheClosingDate,totheeffectthattheMergerwillqualifyasa"reorganization"withinthemeaningofSection368(a)oftheCode;provided,however,thatthisconditionwillbedeemedsatisfiedifParent'sCounseldeliverstheopinionofcounseldescribedinSection 6.02(d) .Inrenderingsuchopinion,Parent'sCounselshallbeentitledtorelyupontherepresentationscontainedintheTaxRepresentationLettersofParentandtheCompanyreferredtoinSection 5.14(b) heretoanduponsuchotherrepresentations,assumptionsandqualificationsasParent'sCounselreasonablydeemsrelevant.

57

Page 73: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(e) Closing Certificates. ParentshallhavereceivedacertificatesignedbyanexecutiveofficeroftheCompany,datedtheClosingDate,totheeffectthattheconditionssetforthinSection 6.03(a) ,Section 6.03(b) ,Section 6.03(c) ,andSection 6.03(d) havebeensatisfied.

ARTICLE VII TERMINATION, AMENDMENT AND WAIVER

Section7.01 Termination. ThisAgreementmaybeterminatedandtheMergerabandonedatanytimepriortotheEffectiveTime:

(a)bymutualwrittenagreementofParentandtheCompany;

(b)byeitherParentortheCompanyintheeventanylawororderofanyGovernmentalAuthorityofcompetentjurisdictionrestraining,enjoiningorotherwiseprohibitingormakingillegaltheconsummationoftheMergershallhavebecomefinalandnon-appealable;provided ,thattherighttoterminatethisAgreementpursuanttothisSection 7.01(b) shallnotbeavailabletoanypartywhosefailuretocomplywithitsobligationsunderthisAgreementhasbeenaprincipalcauseoftheimpositionofsuchlawororder;

(c)byeitherParentortheCompanyintheeventthattheMergershallnothavebeenconsummatedbyMay7,2020(the"Termination Date ");provided ,further ,thattherighttoterminatethisAgreementunderthisSection 7.01(c) shallnotbeavailabletoanypartywhosefailuretofulfillanyofitsobligationsunderthisAgreementhasbeenaprincipalcauseofthefailureoftheMergertooccuronorbeforetheTerminationDate;

(d)byParent,atanytimepriortothereceiptoftheCompanyStockholderApproval,intheeventthat(A)theCompanyBoardhasfailedtoincludetheCompanyBoardRecommendationintheProxyStatement,(B)theCompanyBoardhaseffectedaCompanyChangeofRecommendation,whetherornotpermittedbythetermsofthisAgreement,(C)theCompanyhasbreachedinanymaterialrespectitsobligationsunderSection 4.04 ,or(D)theCompanyhasfailedtopubliclyreaffirmtheCompanyBoardRecommendationwithinten(10)BusinessDaysafterParentsorequestsinwriting;provided,that,withrespecttothisclause(D)only,aCompanyTakeoverProposalshallhavebeenpubliclyannouncedandnotpubliclywithdrawnpriortosuchrequestbyParent;

(e)bytheCompanyintheeventthatthereshallhavebeenabreachofanyofthecovenantsoragreementsoranyoftherepresentationsorwarrantiessetforthinthisAgreementonthepartofParentorMergerSub,whichbreach,eitherindividuallyorintheaggregate,wouldresultin,ifoccurringorcontinuingontheClosingDate,thefailureoftheconditionssetforthinSection 6.01 orSection 6.02 tobesatisfied,andwhichisnotcurablepriortotheTerminationDateor,ifcurablepriortotheTerminationDate,isnotcuredwithintheearlierof(i)30daysfollowingwrittennoticetoParentor(ii)theTerminationDate;provided ,thattheCompanyisnottheninbreachofthisAgreementsoastocauseanyoftheconditionssetforthinSection 6.01 orSection 6.03 nottobesatisfied;provided ,further ,thattheCompanymaynotterminatethisAgreementpursuanttothisSection 7.01(e) inrespectofanysuchbreach(A)atanytimeduringsuch30dayperiodand(B)atanytimeaftersuch30dayperiodifsuchbreach,failuretoperformorinaccuracybyParentorMergerSubiscuredwithinsuch30dayperiod;

(f)byParentintheeventthatthereshallhavebeenabreachofanyofthecovenantsoragreementsoranyoftherepresentationsorwarrantiessetforthinthisAgreementonthepartoftheCompany,whichbreach,eitherindividuallyorintheaggregate,wouldresultin,ifoccurringorcontinuingontheClosingDate,thefailureoftheconditionssetforthinSection 6.01 orSection 6.03 tobesatisfied,andwhichisnotcurablepriortotheTerminationDateor,ifcurablepriortotheTerminationDate,isnotcuredwithintheearlierof(i)30daysfollowingwrittennoticetotheCompanyor(ii)theTerminationDate;provided ,thatneitherParentnorMergerSubistheninbreachofthis

58

Page 74: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

AgreementsoastocauseanyoftheconditionssetforthinSection 6.01 orSection 6.02 nottobesatisfied;provided ,further ,thatneitherParentnorMergerSubmayterminatethisAgreementpursuanttothisSection 7.01(f) inrespectofanysuchbreach(A)atanytimeduringsuch30dayperiodand(B)atanytimeaftersuch30dayperiodifsuchbreach,failuretoperformorinaccuracybytheCompanyiscuredwithinsuch30dayperiod;

(g)bytheCompanyorParentintheeventthateithertheCompanySpecialMeeting,asadjournedorpostponedfromtimetotime,shallhavebeenheld,theCompanyStockholderApprovalshallhavebeensubmittedtothestockholdersoftheCompanyforadoptionatsuchCompanySpecialMeeting,andtheCompanyshallhavefailedtoobtaintheCompanyStockholderApproval;or

(h)bytheCompany,atanytimepriortothereceiptoftheCompanyStockholderApprovalinordertoenterintoawrittendefinitiveagreementwithrespecttoaCompanySuperiorProposalinaccordancewithSection 4.04(e) if,immediatelypriortoorconcurrentlywithsuchtermination,theCompanypaystoParentoritsdesigneeinimmediatelyavailablefundstheCompanyTerminationFeepursuanttoSection 7.03(a) .

ThepartydesiringtoterminatethisAgreementpursuanttoclause(b),(c),(d),(e),(f),(g)or(h)ofthisSection 7.01 shallgivewrittennoticeofsuchterminationtotheotherpartyinaccordancewithSection 8.02 ,specifyingtheprovisionorprovisionshereofpursuanttowhichsuchterminationiseffected.

Section7.02 Effect of Termination. IntheeventoftheterminationofthisAgreementpursuanttoSection 7.01 ,thisAgreementshallbecomevoidandhavenoeffectwithnoliabilitytoanypersononthepartofanypartyhereto(oranyofitsRepresentativesoraffiliates),exceptthat(a)theprovisionsofSection 5.02(b) ,Section 5.05 ,thisSection 7.02 ,Section 7.03 ,Section 7.04 ,Article VIII andtheConfidentialityAgreementshallsurviveanysuchterminationandabandonment,and(b)theterminationofthisAgreementshallnotrelieveanypartyfromanyliabilityordamagesforanyWillfulBreach.

Section7.03 Company Termination Fee; Expenses. NotwithstandinganythingtothecontraryinthisAgreement,includingSection 5.05 ,if:

(a)(i)ParentterminatesthisAgreementpursuanttoSection 7.01(d) ,(ii)theCompanyterminatesthisAgreementpursuanttoSection 7.01(c) orSection 7.01(g) atatimewhenParentwasentitledtoterminatethisAgreementpursuanttoSection 7.01(d) or(iii)theCompanyterminatesthisAgreementpursuanttoSection 7.01(h) ,thentheCompanyshallpaytoParentoritsdesignee,(A)inthecaseofclause(i),withintwo(2)BusinessDaysfollowingdeliveryofParent'snoticeoftermination,and(B)inthecaseofclause(ii)and(iii),immediatelypriortoorconcurrentlywiththeterminationofthisAgreement,anamountequalto$22,500,000(the"Company Termination Fee ")bywiretransferofimmediatelyavailablefundstoanaccountdesignatedinwritingbyParent;or

(b)(i)theCompanyorParentterminatesthisAgreementpursuanttoSection 7.01(c) ,(ii)ParentterminatesthisAgreementpursuanttoSection 7.01(f) ,or(iii)theCompanyorParentterminatesthisAgreementpursuanttoSection 7.01(g) and(A)priortosuchtermination,aCompanyTakeoverProposalshallhavebeenpubliclymadeorannouncedandnotwithdrawn,and(B)within12monthsaftersuchterminationtheCompanyshallenterintoawrittendefinitiveagreementprovidingfortheconsummationofaCompanyTakeoverProposal(whichissubsequentlyconsummated,whichconsummationneednotoccurwithinsuch12monthperiod)orshallconsummateaCompanyTakeoverProposal,thentheCompanyshallpaytoParentbywiretransferofimmediatelyavailablefundstoanaccountdesignatedinwritingbyParent,onthedateofconsummationofsuchCompanyTakeoverProposal,anamountequaltotheCompanyTerminationFee.ForpurposesofthisSection 7.03(b) ,allreferencesto"85%"and"15%"inthedefinitionof"CompanyTakeoverProposal"shallbedeemedtobereferencesto"49.99%"and"50.01%",respectively;or

59

Page 75: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(c)thisAgreementisterminatedbyParentpursuanttoSection 7.01(f) ,thentheCompanyshallpaytoParentoritsdesigneebywiretransferofimmediatelyavailablefundstoanaccountdesignatedinwritingbyParentallofthedocumentedout-of-pocketexpensesreasonablyincurredbyParent,MergerSubortheirrespectiveaffiliatesinconnectionwiththisAgreementandthetransactionscontemplatedbythisAgreement(the"Parent Expense Reimbursement ").TheParentExpenseReimbursementshallbepaidbytheCompanywithintwoBusinessDaysafterdeliverybyParenttotheCompanyofawrittenstatementsettingforththeamountofsuchParentExpenseReimbursement.InnoeventshalltheCompanyberequiredtopaytheParentExpenseReimbursementonmorethanoneoccasionandiftheCompanyTerminationFeebecomespayableafteraParentExpenseReimbursementhasbeenpaid,thensuchParentExpenseReimbursementshallbecreditedagainsttheCompanyTerminationFee.

(d)thisAgreementisterminatedbytheCompanypursuanttoSection 7.01(e) ,thenParentshallpaytotheCompanyoritsdesigneebywiretransferofimmediatelyavailablefundstoanaccountdesignatedinwritingbytheCompanyallofthedocumentedout-of-pocketexpensesreasonablyincurredbytheCompanyoritsaffiliatesinconnectionwiththisAgreementandthetransactionscontemplatedbythisAgreement(the"Company Expense Reimbursement ").TheCompanyExpenseReimbursementshallbepaidbyParentwithintwoBusinessDaysafterdeliverybytheCompanytoParentofawrittenstatementsettingforththeamountofsuchCompanyExpenseReimbursement.InnoeventshallParentberequiredtopaytheCompanyExpenseReimbursementonmorethanoneoccasion.

Section7.04 Termination Fees. IfParentshallreceivefullpaymentoftheCompanyTerminationFeepursuanttoSection 7.03(a) orSection 7.03(b) ,thenthereceiptoftheCompanyTerminationFeepursuanttoSection 7.03(a) orSection 7.03(b) byParentshallbethesoleandexclusiveremedyofParentandMergerSubforanyliabilityordamagerelatingtoorarisingoutofthisAgreementortheMerger(otherthan,inthecaseofSection 7.03(b) ,pursuanttoSection 7.03(c) );provided ,thatpaymentoftheCompanyTerminationFeeshallnotreleaseanypartyfromliabilityforWillfulBreach.TheCompany,ParentandMergerSubeachacknowledgethattheagreementscontainedinSection 7.03 areanintegralpartofthetransactionscontemplatedbythisAgreementandthat,withouttheseagreements,noneofParent,MergerSubortheCompanywouldenterintothisAgreement,andthatanyamountspayablepursuanttoSection 7.03 donotconstituteapenaltybutconstitutepaymentofliquidateddamagesandthattheliquidateddamagesamountisreasonableinlightofthesubstantialbutindeterminateharmanticipatedtobecausedbytheotherparty'sbreachordefaultunderthisAgreement,thedifficultyofproofandcalculationoflossanddamages,theinconvenienceandnon-feasibilityofotherwiseobtaininganadequateremedy,theeffortsandresourcesexpendedandopportunitiesforegonewhilenegotiatingthisAgreementandinrelianceonthisAgreementandontheexpectationoftheconsummationoftheMergerandtheothertransactionscontemplatedherebyandthevalueofthetransactionstobeconsummatedhereunder.InnoeventshalltheCompanyberequiredtopaytheCompanyTerminationFeeonmorethanoneoccasion.IftheCompanyfailstopromptlypaytheCompanyTerminationFeeortheParentExpenseReimbursement,theCompanyshallpayParentitscostsandexpenses(includingreasonableattorneys'fees)inconnectionwithenforcingitsrighttosuchCompanyTerminationFeeortheParentExpenseReimbursement,togetherwithinterestonsuchamountsattheprimeratepublishedintheMoneyRatessectionofTheWallStreetJournalineffectonthedatesuchpaymentwasrequiredtobemade.IfParentfailstopromptlypaytheCompanyExpenseReimbursement,ParentshallpayCompanyitscostsandexpenses(includingreasonableattorneys'fees)inconnectionwithenforcingitsrighttosuchCompanyExpenseReimbursement,togetherwithinterestontheamountoftheCompanyExpenseReimbursementattheprimeratepublishedintheMoneyRatessectionofTheWallStreetJournalineffectonthedatesuchpaymentwasrequiredtobemade.

60

Page 76: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

ARTICLE VIII GENERAL PROVISIONS

Section8.01 Non-survival of Representations, Warranties, Covenants and Agreements. Noneoftherepresentations,warranties,covenantsandagreementsofthepartiesinthisAgreementorinanyinstrumentdeliveredpursuanttothisAgreementshallsurvivetheEffectiveTime;provided ,however ,thatthisSection 8.01 shallnotlimitanycovenantoragreementofthepartiesinthisAgreementorinanyinstrumentdeliveredpursuanttothisAgreementtotheextentthatsuchcovenantoragreementcontemplatesperformanceaftertheEffectiveTime.

Section8.02 Notices. Allnotices,requests,claims,consents,demandsandothercommunicationsunderthisAgreementshallbeinwritingandshallbedeliveredeitherinperson,byovernightcourier,byregisteredorcertifiedmail,orelectronicmail,andshallbedeemedtohavebeendulygiven(a)uponreceipt,ifdeliveredpersonallyorbyovernightcourier,withovernightdeliveryandwithacknowledgementofreceiptrequested,(b)three(3)BusinessDaysaftermailing,ifmailedbyregisteredorcertifiedmail(postageprepaid,returnreceiptrequested)or(c)ontheBusinessDaythetransmissionismadewhentransmittedbyelectronicmailpriorto5:00p.m.PacificTimeonaBusinessDayoronthesucceedingBusinessDayifthetransmissioniselectronicmailaftersuchtimeonaBusinessDayoronanon-BusinessDay(provided,ineachcase,thatthepartysendingsuchnoticedoesnotreceivenotificationwithin12hoursthatsuchtransmissionwasunsuccessful),tothepartiesatthefollowingaddresses(oratsuchotheraddressforapartyasshallbespecifiedbylikenotice):

iftoParentorMergerSub,to:

c/oGlaukosCorporationAttention:RobertDavis229AvenidaFabricanteSanClemente,CA92672Email:[email protected]

withacopy(whichshallnotconstitutenotice)to:

O'Melveny&MyersLLP610NewportCenterDrive,17thFloorNewportBeach,California92660Attention:MarkD.Peterson,Esq.andAndorTerner,Esq.Email:[email protected]@omm.com

iftotheCompany,to:

Avedro,Inc.Attention:PaulBavier201JonesRoadWaltham,MA02451Email:[email protected]

withacopy(whichshallnotconstitutenotice)to:

CooleyLLPAttention:BarbaraBordenandMiguelVega,Esq.500BoylstonStreet14thFloorBoston,MA02116-3736Email:[email protected]@cooley.com

61

Page 77: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Section8.03 Definitions. ForpurposesofthisAgreement:

(a)an"affiliate "ofanypersonmeansanotherpersonthatdirectlyorindirectly,throughoneormoreintermediaries,controls,iscontrolledby,orisundercommoncontrolwith,suchfirstperson,where"control "meansthepossession,directlyorindirectly,ofthepowertodirectorcausethedirectionofthemanagementpoliciesofaperson,whetherthroughtheownershipofvotingsecurities,bycontract,astrusteeorexecutor,orotherwise.

(b)"Antitrust Laws "meanstheShermanAntitrustActof1890,theClaytonAntitrustActof1914,theHSRActandallotherfederal,stateandforeignstatutes,rules,regulations,orders,decreesandotherlawsandjudgmentsthataredesignedorintendedtoprohibit,restrictorregulateactionshavingthepurposeoreffectofmonopolizationorrestraintoftradeorcompetition.

(c)"Business Day "meansanyday,otherthanaSaturdayorSundayoradayonwhichbanksarerequiredorauthorizedbylawtocloseinLosAngeles,California.

(d)"capital stock "or"shares of capital stock "means(i)withrespecttoacorporation,asdeterminedunderthelawsofthejurisdictionoforganizationofsuchentity,capitalstockorsuchsharesofcapitalstock;(ii)withrespecttoapartnership,limitedliabilitycompany,orsimilarentity,asdeterminedunderthelawsofthejurisdictionoforganizationofsuchentity,units,interests,orotherpartnershiporlimitedliabilitycompanyinterests;or(iii)anyotherequityownershiporparticipation.

(e)"Company Employee Stock Plan "meanstheCompany's2003StockPlan,theCompany's2012EquityIncentivePlan,andtheCompany's2019EquityIncentivePlan,ineachcaseasamendedfromtimetotime.

(f)"Company ESPP "meanstheCompany's2019EmployeeStockPurchasePlan,asamendedfromtimetotime.

(g)"Company Joint Venture "shallmeananyJointVentureoftheCompany.

(h)"Company Material Adverse Effect "meansanychange,effect,event,occurrence,developmentorchangeinfacts(eacha"Change "andcollectively,"Changes ")(i)thatismateriallyadversetothebusiness,financialconditionorresultsofoperationsoftheCompanyandtheCompanyJointVentures,takenasawhole,or(ii)thatismateriallyadversetotheabilityoftheCompanytoconsummatethetransactionscontemplatedherebyinaccordancewiththetermshereofinatimelymanner,butexcluding,inthecaseofclause(i)only,anyoftheforegoingtotheextentresultingfrom(A)changesinapplicablelaworinternationalornationallegal,politicalorregulatoryconditionsgenerally(ineachcase,totheextentnotdisproportionatelyaffectingtheCompany),(B)changesintheeconomyorthefinancialorsecuritiesmarketsintheUnitedStatesortheindustryorindustriesinwhichtheCompanyoperates(ineachcase,totheextentnotdisproportionatelyaffectingtheCompany),(C)anychangesinGAAPorinterpretationsthereofafterthedateofthisAgreement(ineachcase,totheextentnotdisproportionatelyaffectingtheCompany),(D)anyweather-relatedorotherforcemajeureeventoroutbreakorescalationofhostilitiesoractsofwar,terrorism,orsabotage(ineachcase,totheextentnotdisproportionatelyaffectingtheCompany),(E)anychangesintheCompany'sstockpriceortradingvolumeoranyfailureinandofitselfofsuchpersontomeetanyinternalorpublishedprojections,forecasts,budgetsorrevenuespredictions,provided thattheexceptioninthisclause(E)shallnotpreventorotherwiseaffectadeterminationthatanyChangeunderlyingsuchfailurehasresultedin,orcontributedto,amaterialadverseeffectontheCompany,(F)actions(oromissions)oftheCompanytaken(ornottaken)withthepriorwrittenconsentofParentorasrequiredtocomplywiththetermsofthisAgreement(otherthananyrequirementtooperateintheordinarycourseofbusinessconsistentwithpastpracticeandanyrequirementsofSection 4.01 orSection 4.03 ),or(G)thepublicannouncementorpendencyofthetransactionscontemplatedbythisAgreement,includingtheimpactthereofontherelationships,contractualorotherwise,ofsuchpersonwithemployees,customers,suppliersorpartnersoftheCompany.

62

Page 78: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(i)"Company Restricted Stock Unit "meanseachrightorawardofanykind,contingentoraccrued,vestedorunvested,toacquireorreceiveaShareofCompanyCommonStockorbenefitsmeasuredbythevalueofsuchaSharepursuanttoanyexistingCompanyEmployeeStockPlan.

(j)"Company Stock Option "meansanyOptiongrantedpursuanttoanyCompanyEmployeeStockPlan.

(k)"Company Warrants "means(i)thatcertainWarrantAgreementtoPurchaseSharesofPreferredStockoftheCompany,datedasofDecember22,2015,infavorofHerculesTechnologyIII,L.P.(the"Hercules Warrant "),(ii)thatcertainWarrantoftheCompany,datedMarch20,2017,infavorofOrbiMedRoyaltyOpportunitiesII,LP(the"OrbiMed Warrant "andtogetherwiththeHerculesWarrant,the"Outstanding Warrants ")and(iii)anyotherwarranttoacquiresharesofCompanyCommonStock,sharesofpreferredstockoftheCompanyoranyothersharesofcapitalstockoftheCompany(the"Converted Warrants ").

(l)"Continuing Employees "shallmeanallemployeesoftheCompanywhoareofferedandtimelyacceptemploymentbyParentoranysubsidiaryofParent,whocontinuetheiremploymentwiththeCompanyor,outsidetheU.S.,whoremainorbecomeemployeesoftheCompany,ParentoranysubsidiaryofParentasrequiredbyapplicablelaws.

(m)"Contract "meansanylegallybindingwrittenororalagreement,contract,subcontract,lease,instrument,note,licenseorsublicense.

(n)"Customs & International Trade Authorizations "shallmeananyandalllicenses,registrations,andapprovalsrequiredpursuanttotheCustoms&InternationalTradeLawsforthelawfulexport,re-export,transferorimportofgoods,software,technology,technicaldata,andservicesandinternationalfinancialtransactions.

(o)"Customs & International Trade Laws "shallmeantheapplicableexportcontrol,sanctions,import,customsandtrade,andanti-boycottlawsofanyjurisdictioninwhichtheCompanyisincorporatedordoesbusiness,includingtheTariffActof1930,asamended,andotherlaws,regulations,andprogramsadministeredorenforcedbytheU.S.DepartmentofCommerce,U.S.InternationalTradeCommission,U.S.CustomsandBorderProtection,U.S.ImmigrationandCustomsEnforcement,andtheirpredecessoragencies;theExportAdministrationActof1979,asamended;theExportAdministrationRegulations,includingrelatedrestrictionswithregardtotransactionsinvolvingpersonsontheU.S.DepartmentofCommerceDeniedPersonsList,UnverifiedListorEntityList;theArmsExportControlAct,asamended;theInternationalTrafficinArmsRegulations,includingrelatedrestrictionswithregardtotransactionsinvolvingpersonsontheDebarredList;theInternationalEmergencyEconomicPowersAct,asamended;theTradingWiththeEnemyAct,asamended;theIranSanctionsAct,asamended;theNationalDefenseAuthorizationActforFiscalYear2012;theNationalDefenseAuthorizationActforFiscalYear2013;andtheembargoesandrestrictionsadministeredbyOFAC;ExecutiveOrdersregardingembargoesandrestrictionsontransactionswithdesignatedcountriesandentities,includingpersonsdesignatedonOFAC'slistofSpeciallyDesignatedNationalsandBlockedPersons,andpersonsdesignatedontheU.S.DepartmentofStatesanctionslists;theanti-boycottlawsandregulationsadministeredbytheU.S.DepartmentofCommerce;andtheanti-boycottlawsandregulationsadministeredbytheU.S.DepartmentoftheTreasury.

(p)"Data Privacy and Security Laws "means(i)totheextentapplicable,alllawsrelatingtothecollection,storage,use,disclosure,retentionortransferofPersonalInformation,privacyorinformationsecurity,includingtheFederalPrivacyandSecurityRegulationsandtheGeneralDataProtectionRegulation(EU)2016/679(GDPR),oranycorrespondingorequivalentnationallawsorregulations,(ii)allapplicablelawsrelatingtouseofcookiesandtrackingtechnologies;(iii)allapplicablelawsrelatingtosendingofelectroniccommunicationstoindividuals,includingemailcommunications,SMSortextmessagesorpushnotificationsinmobileapplications;(iv)allapplicablelawsconcerningthe

63

Page 79: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

securityoftheCompanySystems,and(v)theCompany'spoliciesandnotices(e.g.,postedprivacypolicies;noticesprovidedinconnectionwiththecollection,storage,use,disclosure,retentionortransferofPersonalInformation;postedpoliciesornoticesconcerningthesecurityoftheCompanySystems;andinternalpoliciesandstandardsconcerningthetreatmentofPersonalInformationorthesecurityoftheCompanySystems)relatingtoPersonalInformation,privacyorthesecurityoftheCompanySystems(collectively,the"Privacy Policies ").

(q)"Data Security Breach "meanstheunlawfuldestruction,loss,alteration,unauthorizeddisclosureof,oraccessto,PersonalInformation,whichwouldrequirenotificationtoapersonorGovernmentalAuthorityunderDataPrivacyandSecurityLaws.

(r)"FDA Laws "shallmeanallhealthcare-relatedlawsapplicabletotheoperationoftheCompany'sbusiness,including(i)theFederalFood,Drug,andCosmeticActof1938,asamended(21U.S.C.§321etseq.);(ii)therulesandregulationspromulgatedandenforcedbytheFDAthereunder,including,asapplicable,thoserequirementsrelatingtotheFDA'scurrentGoodManufacturingPractices,GoodLaboratoryPractices,GoodClinicalPractices,investigationaluse,pre-marketapprovalandapplicationstomarketnewmedicaldevices;(iii)lawsgoverningthedevelopment,conduct,monitoring,patientinformedconsent,auditing,analysisandreportingofclinicaltrials(includingtheGoodClinicalPracticeregulations);(iv)lawsgoverningdata-gatheringactivitiesrelatingtothedetection,assessment,andunderstandingofadverseevents(includingpharmacovigilanceandadverseeventregulationsofFDAandICH);and(v)allcomparablestate,federalorforeignlawsrelatingtoanyoftheforegoing.

(s)"indebtedness "means(i)indebtednessoftheCompanyforborrowedmoney(includingtheaggregateprincipalamountthereofandtheaggregateamountofanyaccruedbutunpaidinterestthereon),(ii)obligationsoftheCompanyevidencedbybonds,notes,debentures,lettersofcreditorsimilarinstrument,(iii)obligationsoftheCompanyundercapitalizedleases,(iv)obligationsinrespectofinterestrateandcurrencyobligationswaps,hedgesorsimilararrangements,and(v)allobligationsoftheCompanytoguaranteeanyoftheforegoingtypesofpaymentobligationsonbehalfofanypersonotherthantheCompany.

(t)"Joint Venture "ofapersonshallmeananypersonthatisnotasubsidiaryofsuchfirstperson,inwhichsuchfirstpersonand/oroneormoreofitssubsidiariesownsdirectlyorindirectlyanequityinterest,otherthanequityinterestsheldforpassiveinvestmentpurposesthatarelessthan5%ofeachclassoftheoutstandingvotingsecuritiesorequityinterestsofsuchsecondperson.

(u)"knowledge "means(i)withrespecttotheCompany,theactualknowledgeofthepersonslistedinSection 8.03 oftheCompanyDisclosureLetter(undertheheading"knowledge")afterreasonableinquiry,and(ii)withrespecttoParent,theactualknowledgeofthepersonslistedinSection 8.03(s) oftheParentDisclosureLetter(undertheheading"knowledge")afterreasonableinquiry.WithrespecttomattersinvolvingIntellectualProperty,"knowledge"doesnotrequirethattheknowledgeindividualshaveconducted,obtainorhaveobtainedanyfreedom-to-operateopinionsorsimilaropinionsofcounseloranyIntellectualPropertyclearancesearches,andnoknowledgeofanythird-partyIntellectualPropertythatwouldhavebeenrevealedbysuchinquiries,opinionsorsearcheswillbeimputedtothesuchknowledgeindividualsorthedirectreportsofanyoftheforegoing;provided,thatanysuchopinionsorsearchesthathavebeenconductedorobtainedpriortothedateofthisAgreementwillnotbeexcludedfromtheterm"knowledge"asaresultofthissentence.

(v)"Leased Real Property "meansallleaseholdorsubleaseholdestatesandotherrightstouseoroccupyanyland,buildings,structures,improvements,fixturesorotherinterestinrealpropertyheldbytheCompany.

(w)"Leases "meansallleases,subleases,licenses,concessionsandotheragreementspursuanttowhichtheCompanyholdsanyLeasedRealProperty.

64

Page 80: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(x)"Lien "shallmeaneachofliens,claims,mortgages,encumbrances,pledges,securityinterests,equities,charges,rightsoffirstrefusal,transferrestrictionsorvotingrestrictionsofanykind.

(y)"OFAC "shallmeantheOfficeofForeignAssetsControloftheU.S.DepartmentoftheTreasury.

(z)"Options "meansanysubscriptions,options,warrants,rights(includingstockappreciationrights),preemptiverightsorothercontracts,commitments,understandingsorarrangements,includinganyrightofconversionorexchangeunderanyoutstandingsecurity,instrumentoragreement.

(aa)"Parent ESPP "meansParent's2015EmployeeStockPurchasePlan.

(bb)"Parent Material Adverse Effect "meansanyChange(i)thatismateriallyadversetothebusiness,financialconditionorresultsofoperationsofParentanditssubsidiaries,takenasawhole,or(ii)thatismateriallyadversetotheabilityofParentorMergerSubtoconsummatethetransactionscontemplatedherebyinaccordancewiththetermshereofinatimelymanner,butexcluding,inthecaseofclause(i)only,anyoftheforegoingtotheextentresultingfrom(A)changesinapplicablelaworinternationalornationallegal,politicalorregulatoryconditionsgenerally(ineachcase,totheextentnotdisproportionatelyaffectingParentanditssubsidiaries,takenasawhole),(B)changesintheeconomyorthefinancial,orsecuritiesmarketsintheUnitedStatesorelsewhereintheworldortheindustryorindustriesinwhichParentoranyofitssubsidiariesoperates(ineachcase,totheextentnotdisproportionatelyaffectingParentanditssubsidiaries,takenasawhole),(C)anychangesinGAAPorinterpretationsthereofafterthedateofthisAgreement(ineachcase,totheextentnotdisproportionatelyaffectingParentanditssubsidiaries,takenasawhole),(D)anyweather-relatedorotherforcemajeureeventoroutbreakorescalationofhostilitiesoractsofwar,terrorismorsabotage(ineachcase,totheextentnotdisproportionatelyaffectingParentanditssubsidiaries,takenasawhole),or(E)anychangesinParent'sstockpriceortradingvolumeoranyfailureinandofitselfofsuchpersontomeetanyinternalorpublishedprojections,forecasts,budgetsorrevenuespredictions,provided thattheexceptioninthisclauseshallnotpreventorotherwiseaffectadeterminationthatanyChangeunderlyingsuchfailurehasresultedin,orcontributedto,amaterialadverseeffectonParent.

(cc)"Parent Restricted Stock Unit "meanseachrightofanykind,contingentoraccrued,vestedorunvested,toacquireorreceiveaShareofParentCommonStockorbenefitsmeasuredbythevalueofsuchaShareissuedorawardedinconnectionwiththeperformanceofservices.

(dd)"Parent Stock Option "meansanyOptiontopurchaseSharesofParentCommonStockissuedorawardedinconnectionwiththeperformanceofservices.

(ee)"Parent Trading Price "meansthevolumeweightedaveragesofthetradingpriceofParentCommonStockontheNYSEasdisplayedundertheheading"BloombergVWAP"onBloombergpage"CPEUSequity"(oritsequivalentsuccessorifsuchpageisnotavailable)oneachofthefiveconsecutivetradingdaysendingonthetradingdaythatisthreetradingdayspriortotheClosingDate,roundeddowntothenearestpenny(asadjustedasappropriatetoreflectanystocksplits,stockdividends,combinations,reorganizations,reclassificationsorsimilarevents).

(ff)"person "meansanindividual,corporation,partnership,limitedliabilitycompany,jointventure,association,trust,unincorporatedorganization,GovernmentalAuthorityorotherentity.

(gg)"Permitted Liens "shallmean(i)Liensunderworkmen'scompensation,unemploymentinsuranceorsimilarlaws,orsecurityforgovernmentalcharges,ineachcaseincurredormadeintheordinarycourseofbusinessconsistentwithpastpracticeandforwhichappropriatereserveshavebeenestablishedinaccordancewithGAAP,(ii)Liensimposedbylaw,includingcarriers',warehousemen's,materialmens',mechanics'orothersimilarLiens,aswellasLiensgrantedbytheCompanyortheCompanyJointVenturestosuppliersofgoodsinordertosecurepaymentforsuchgoods,ineachcaseincurredorgrantedintheordinarycourseofbusinessconsistentwithpastpracticerelatingto

65

Page 81: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

obligationsnotyetdelinquentorthevalidityoramountofwhicharebeingcontestedingoodfaithbyappropriateproceedingsandforwhichappropriatereserveshavebeenestablishedinaccordancewithGAAP,(iii)statutoryorcommonlawLiensorencumbrancestosecurelandlords,lessorsorrentersunderleasesorrentalagreements,or(iv)statutoryLiensforTaxesorLiensassecurityforcontestedTaxesnotyetdelinquentorthevalidityoramountofwhicharebeingcontestedingoodfaithbyappropriateproceedingsdiligentlyconductedandforwhichappropriatereserveshavebeenestablishedinaccordancewithGAAP.

(hh)"Personal Information "meansanyinformationthatrelatestoanidentifiedoridentifiablenaturalpersonthatisdefinedasprotectedorregulatedpersonalinformation,personaldata,personallyidentifiableinformationorsimilartermsunderanyapplicableDataPrivacyandSecurityLaws.

(ii)"Registrations "shallmeanauthorizations,approvals,clearances,Consents,licenses,permits,certificates,exemptionsorregistrationsissuedorotherwisemadeavailablebyanyRegulatoryAuthorityorGovernmentalAuthority(including510(k)orpre-marketnotificationclearances,pre-marketapprovals,investigationaldeviceexemptions,productrecertifications,manufacturingapprovalsandauthorizations,governmentalpricingandreimbursementapprovals,labelingapprovals,registrationnotificationsortheirforeignequivalent)thatarerequiredfortheresearch,investigation,development,production,manufacture,labeling,distribution,marketing,storage,shipping,transportation,export,import,useorsaleoftheproductsorservicesoftheCompany.

(jj)"Regulatory Authority "shallmeantheFDAandanyotherGovernmentalAuthoritythatregulatestheresearch,investigation,development,production,marketing,distribution,storage,shipping,transport,advertising,labeling,promotion,sale,export,import,usehandlingandcontrol,safety,efficacy,reliabilityormanufacturingofmedicaldevices,medicaltechnologyormedicaldrugs.

(kk)"Representative "means,withrespecttoanyperson,suchperson'sofficers,directors,employees,investmentbankers,financialadvisors,attorneys,accountantsandotheradvisorsandrepresentatives

(ll)"Sanctioned Country "shallmean,atanytime,acountryorterritorywhichisitselfthesubjectortargetofcomprehensiveSanctions(atthetimeofthisAgreement,Crimea,Cuba,Iran,NorthKoreaandSyria).

(mm)"Sanctioned Person "shallmeananypersonthatisthetargetofSanctions,including(i)anypersonlistedinanySanctions-relatedlistofdesignatedpersonsmaintainedbyOFACortheU.S.DepartmentofState,theUnitedNationsSecurityCounciloranyEuropeanUnionmemberstate,(ii)anypersonlocated,organizedorresidentinaSanctionedCountry,or(iii)anyperson50%ormoreownedorotherwisecontrolledbyanysuchpersonorpersonsdescribedintheforegoingclauses(i)and(ii).

(nn)"Sanctions "shallmeaneconomicorfinancialsanctionsortradeembargoesimposed,administeredorenforcedfromtimetotimebytheU.S.governmentthroughOFACortheU.S.DepartmentofState,theUnitedNationsSecurityCouncil,theEuropeanUnionoranyEuropeanUnionmemberstate.

(oo)"subsidiary "means,withrespecttoanyperson,anyotherperson,whetherincorporatedorunincorporated,ofwhichmorethan50%ofeithertheequityinterestsin,orthevotingcontrolof,suchotherpersonis,directlyorindirectlythroughsubsidiariesorotherwise,beneficiallyownedbysuchfirstperson;provided,however ,thatnoCompanyJointVentureshallbedeemedtobea"subsidiary"oftheCompany.

(pp)"Takeover Laws "meansany"businesscombination"(asdefinedinsuchSection203oftheDGCL),"controlshareacquisition,""fairprice,""moratorium"orothertakeoveroranti-takeoverstatuteorsimilarlaw.

66

Page 82: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(qq)"Willful Breach "meansamaterialbreachthatisaconsequenceofanactorafailuretoactofanofficerofthepartytakingsuchactorfailingtotakesuchactwiththeactualknowledgethatthetakingofsuchactorthefailuretotakesuchactwouldcause,abreachofanyrepresentation,warranty,agreementorcovenantofthebreachingpartycontainedinthisAgreement.

Section8.04 Interpretation and Other Matters. WhenareferenceismadeinthisAgreementtoanArticle,SectionorExhibit,suchreferenceshallbetoanArticleorSectionof,oranExhibitto,thisAgreementunlessotherwiseindicated.ThetableofcontentsandheadingscontainedinthisAgreementareforreferencepurposesonlyandshallnotaffectinanywaythemeaningorinterpretationofthisAgreement.Wheneverthewords"include,""includes"or"including"areusedinthisAgreement,theyshallbedeemedtobefollowedbythewords"withoutlimitation."Thewords"hereof,""herein"and"hereunder"andwordsofsimilarimportwhenusedinthisAgreementshallrefertothisAgreementasawholeandnottoanyparticularprovisionofthisAgreement.AlltermsdefinedinthisAgreementshallhavethedefinedmeaningswhenusedinanycertificateorotherdocumentmadeordeliveredpursuantheretounlessotherwisedefinedtherein.ThedefinitionscontainedinthisAgreementareapplicabletothesingularaswellasthepluralformsofsuchtermsandtothemasculineaswellastothefeminineandneutergendersofsuchterms.Anyagreement,instrumentorstatutedefinedorreferredtohereinorinanyagreementorinstrumentthatisreferredtohereinmeanssuchagreement,instrumentorstatuteasfromtimetotimeamended,modifiedorsupplemented,including(inthecaseofagreementsorinstruments)bywaiverorconsentand(inthecaseofstatutes)bysuccessionofcomparablesuccessorstatutesandreferencestoallattachmentstheretoandinstrumentsincorporatedtherein.Referencestoapersonarealsotoitssuccessorsandpermittedassigns.

Section8.05 Counterparts. ThisAgreementmaybeexecutedinoneormorecounterparts,allofwhichshallbeconsideredoneandthesameagreementandshallbecomeeffectivewhenoneormorecounterpartshavebeensignedbyeachpartyanddeliveredtotheotherparties.

Section8.06 Entire Agreement; No Third-Party Beneficiaries; Suits for Damages. ThisAgreement(includingthedocumentsandinstrumentsreferredtoherein),theVotingAgreementsandtheConfidentialityAgreementconstitutetheentireagreement,andsupersedeallprioragreementsandunderstandings,bothwrittenandoral,amongthepartieswithrespecttothesubjectmatterofthisAgreement.NothinginthisAgreementisintendedtoconfer,anddoesnotconfer,anyrightsorremediesunderorbyreasonofthisAgreement(oranybreachhereof)onanypersonotherthanthepartiesheretoandtheirrespectivesuccessorsandpermittedassigns,exceptaftertheEffectiveTimefortheprovisionsofSection 5.04 ,whichshallbeenforceablebytheCompanyIndemnifiedParties.

Section8.07 Amendment. ThisAgreementmaybeamendedbythepartiesatanytimepriortotheEffectiveTime;provided ,however ,thatafterreceiptoftheCompanyStockholderApproval,thereshallnotbemadeanyamendmentthatbylaworinaccordancewiththerulesoranyrelevantstockexchange,requiresfurtherapprovalbythestockholdersoftheCompanywithoutthefurtherapprovalofsuchstockholders.ThisAgreementmaynotbeamendedexceptbyaninstrumentinwritingsignedbyeachofthepartieshereto.

Section8.08 Extension; Waiver. AtanytimepriortotheEffectiveTime,apartymay(a)extendthetimefortheperformanceofanyoftheobligationsorotheractsoftheotherpartyorparties,(b)waiveanybreachorinaccuraciesintherepresentationsandwarrantiesoftheotherpartyorpartiescontainedinthisAgreementorinanydocumentdeliveredpursuanttothisAgreementor(c)waivecompliancebytheotherpartieswithanyoftheagreementsorconditionscontainedinthisAgreement.Anysuchextensionorwaivershallbevalidonlyifsetforthinaninstrumentinwritingsignedonbehalfofsuchparty.ThefailureofanypartytothisAgreementtoassertanyofitsrightsunderthisAgreementorotherwiseshallnotconstituteawaiverofsuchrights.

67

Page 83: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Section8.09 Governing Law; Jurisdiction.

(a)ThisAgreementshallbegovernedby,andconstruedinaccordancewith,thelawsoftheStateofDelaware,regardlessofthelawsthatmightotherwisegovernunderapplicableprinciplesofconflictoflawsandmattersrelatedtothefiduciaryobligationsoftheCompanyBoardshallbegovernedbythelawsoftheStateofDelaware.

(b)Eachoftheparties(i)irrevocablysubmitsitselftotheexclusivejurisdictionoftheCourtofChanceryoftheStateofDelawareor,totheextentsuchcourtdoesnothavejurisdiction,theUnitedStatesDistrictCourtoftheDistrictofDelaware,aswellastothejurisdictionofallcourtstowhichanappealmaybetakenfromsuchcourts,inanysuit,actionorproceedingarisingoutoforrelatingtothisAgreementoranyofthetransactionscontemplatedherein,(ii)agreesthateverysuchsuit,actionorproceedingshallbebrought,heardanddeterminedexclusivelyinsuchcourt,(iii)agreesthatitshallnotattempttodenyordefeatsuchpersonaljurisdictionbymotionorotherrequestforleavefromsuchcourt,(iv)agreesnottobringanysuit,actionorproceedingarisingoutoforrelatingtothisAgreementoranyofthetransactionscontemplatedhereininanyothercourt,and(v)waivesanydefenseofinconvenientforumtothemaintenanceofanysuit,actionorproceedingsobrought.

(c)Eachofthepartiesagreesthatserviceofanyprocess,summons,noticeordocumentinthemannersetforthinSection 8.02 shallbeeffectiveserviceofprocessforanyaction,suitorproceedingbroughtagainstit.

Section8.10 Assignment. NeitherthisAgreementnoranyoftherights,interestsorobligationsunderthisAgreementshallbeassigned,inwholeorinpart,byoperationoflaworotherwisebyanyofthepartiesheretowithoutthepriorwrittenconsentoftheotherparty.Notwithstandingtheforegoing,eachofParentandMergerSubmay(a)assignanyofitsrightsordelegateanyofitsobligationsunderthisAgreement,byoperationoflaworotherwise,tooneormoreofitsaffiliates(butnosuchassignmentshallrelievetheassigningpartyofanyofitsobligationshereunder)and(b)collaterallyassignanyofitsrights,butnotitsobligations,underthisAgreementtoanyofitsfinancingsources.AnyattemptedorpurportedassignmentinviolationofthisSection 8.10 shallbenullandvoidandofnoeffectwhatsoever.SubjecttotheprovisionsofthisSection 8.10 ,thisAgreementshallbebindingupon,inuretothebenefitof,andbeenforceableby,thepartiesandtheirrespectivesuccessorsandpermittedassigns.

Section8.11 Specific Performance. ThepartiesagreethatirreparabledamagemayoccurandthatthepartiesmaynothaveanyadequateremedyatlawintheeventthatanyoftheprovisionsofthisAgreementwerenotperformedinaccordancewiththeirspecifictermsorwereotherwisebreached.ItisaccordinglyagreedthatintheeventofanybreachorthreatenedbreachbyanyotherpartyofanycovenantorobligationcontainedinthisAgreement,thenon-breachingpartyshallbeentitledtoaninjunctionorinjunctionstopreventbreachesofthisAgreementandtoenforcespecificallythetermsandprovisionsofthisAgreement,withoutthenecessityofpostingbondsorsimilarundertakingsinconnectiontherewith,thisbeinginadditiontoanyotherremedywhichmaybeavailabletosuchnon-breachingpartyatlaworinequity,includingmonetarydamages.EachPartyherebywaivesandagreesnottoassertanyobjectionstoanyremedyreferredtointhisSection 8.11 (includinganyobjectiononthebasisthatthereisanadequateremedyatlaworthatanawardofsuchremedyisnotanappropriateremedyforanyreasonatlaworequity).

Section8.12 Severability. IfanytermorotherprovisionofthisAgreementisinvalid,illegalorincapableofbeingenforcedbyanyruleoflaworpublicpolicy,allotherconditionsandprovisionsofthisAgreementshallneverthelessremaininfullforceandeffect.Uponsuchdeterminationthatanytermorotherprovisionisinvalid,illegalorincapableofbeingenforced,thepartiesheretoshallnegotiateingoodfaithtomodifythisAgreementsoastoeffecttheoriginalintentofthepartiesascloselyaspossibletothefullestextentpermittedbyapplicablelawinanacceptablemannertotheendthatthetransactionscontemplatedherebyarefulfilledtotheextentpossible.

68

Page 84: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Section8.13 Waiver of Jury Trial. EACHPARTYACKNOWLEDGESANDAGREESTHATANYCONTROVERSYWHICHMAYARISEUNDERTHISAGREEMENTORTHEDOCUMENTSRELATEDHERETOISLIKELYTOINVOLVECOMPLICATEDANDDIFFICULTISSUES,ANDTHEREFOREEACHSUCHPARTYHEREBYIRREVOCABLYANDUNCONDITIONALLYWAIVESANYRIGHTSUCHPARTYMAYHAVETOATRIALBYJURYINRESPECTOFANYLITIGATIONDIRECTLYORINDIRECTLYARISINGOUTOFORRELATINGTOTHISAGREEMENTORTHETRANSACTIONSCONTEMPLATEDHEREBY,INCLUDINGANYCONTROVERSYINVOLVINGANYREPRESENTATIVEOFPARENTORTHECOMPANYUNDERTHISAGREEMENT.EACHPARTYCERTIFIESANDACKNOWLEDGESTHAT(i)NOREPRESENTATIVE,AGENTORATTORNEYOFANYOTHERPARTYHASREPRESENTED,EXPRESSLYOROTHERWISE,THATSUCHOTHERPARTYWOULDNOT,INTHEEVENTOFLITIGATION,SEEKTOENFORCETHEFOREGOINGWAIVER,(ii)SUCHPARTYUNDERSTANDSANDHASCONSIDEREDTHEIMPLICATIONSOFTHISWAIVER,(iii)SUCHPARTYMAKESTHISWAIVERVOLUNTARILY,AND(iv)SUCHPARTYHASBEENINDUCEDTOENTERINTOTHISAGREEMENTBY,AMONGOTHERTHINGS,THEMUTUALWAIVERSANDCERTIFICATIONSINTHISSECTION 8.13 .

[The remainder of this page is intentionally left blank.]

69

Page 85: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

INWITNESSWHEREOF,Parent,MergerSubandtheCompanyhavecausedthisAgreementtobesignedbytheirrespectiveofficersthereuntodulyauthorized,allasofthedatefirstwrittenabove.

70

GLAUKOS CORPORATION

By: /s/JosephE.Gilliam

Name: JosephE.Gilliam Title: Chief Financial Officer and Senior Vice

President, Corporate Development

ATLANTIC MERGER SUB, INC.

By: /s/JosephE.Gilliam

Name: JosephE.Gilliam Title: Chief Financial Officer and Senior Vice

President, Corporate Development

AVEDRO, INC.

By: /s/RezaZadno

Name: RezaZadno Title: President and Chief Executive Officer

Page 86: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

ThefollowingschedulesandexhibitshavebeenomittedpursuanttoItem601(a)(5)ofRegulationS-KpromulgatedbytheSEC.

• CompanyDisclosureLetter

• ParentDisclosureLetter

• ExhibitA—FormofAmendedandRestatedCertificateofIncorporation

• ExhibitB—FormofAmendedandRestatedBylaws

• ExhibitC—FormofParentandMergerSubTaxRepresentationLetter

• ExhibitD—FormofCompanyTaxRepresentationLetter

Page 87: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior
Page 88: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

QuickLinks--Clickheretorapidlynavigatethroughthisdocument

Exhibit 10.1

VOTING AGREEMENT

ThisVOTINGAGREEMENT,datedasofAugust7,2019(this"Voting Agreement "),amongGlaukosCorporation,aDelawarecorporation("Parent "),andtheundersignedstockholderofAvedro,Inc.,aDelawarecorporation(the"Company "),listedonthesignaturepagehereto(the"Stockholder ").

W I T N E S S E T H :

WHEREAS ,Parent,AtlanticMergerSub,Inc.,aDelawarecorporationandawholly-ownedsubsidiaryofParent("Merger Subsidiary "),andtheCompanyproposetoenterintoanAgreementandPlanofMergerdatedasofthedatehereof(asthesamemaybeamendedorsupplemented,the"Merger Agreement ")(capitalizedandothertermsusedbutnotdefinedhereinshallhavethemeaningssetforthintheMergerAgreement,ifdefinedintheMergerAgreement),providingforthemergerofMergerSubsidiarywithandintotheCompany,withtheCompanysurvivingtheMergerandbecomingawholly-ownedsubsidiaryofParent;

WHEREAS ,theStockholderownsthenumberofSharessetforthonSchedule A hereto(togetherwithanyNewShares(asdefinedbelow),the"SubjectShares ");

WHEREAS ,certainstockholders(includingtheStockholder),whichconsistofeachofthedirectors,thechiefexecutiveofficer,andthechieffinancialofficeroftheCompanyandcertainotherstockholdersoftheCompany(the"Supporting Stockholders ")areenteringintovotingagreementswiththeParentinsubstantiallythesameformasthisVotingAgreement(the"Other Voting Agreements ");

WHEREAS ,inordertoinduceParenttoenterintotheMergerAgreement,theSupportingStockholdersarewillingtomakecertainrepresentations,warranties,covenants,andagreementsassetforthinthisVotingAgreementwithrespecttotheSubjectShares;and

WHEREAS ,asaconditiontoitswillingnesstoenterintotheMergerAgreement,ParenthasrequiredthatSupportingStockholders,andSupportingStockholdershaveagreedto,executeanddeliverthisVotingAgreementandtheOtherVotingAgreements.

NOW, THEREFORE ,thepartiesheretoagreeasfollows:

Section1. Representations and Warranties of the Stockholder. TheStockholderherebyrepresentsandwarrantstoParentasfollows:

(a) Authority. TheStockholderhasallrequisitepowerandauthoritytoexecuteanddeliverthisVotingAgreement,toperformtheStockholder'sobligationshereunder(including,withoutlimitation,Section 3(c) )andtoconsummatethetransactionscontemplatedhereby.Theexecution,deliveryandperformancebytheStockholderofthisVotingAgreement,theperformancebytheStockholderoftheStockholder'sobligationshereunder(including,withoutlimitation,Section 3(c) )andtheconsummationofthetransactionscontemplatedherebyhavebeendulyandvalidlyauthorizedbyallnecessaryactiononthepartoftheStockholder,andnootheractionsonthepartoftheStockholderarenecessarytoauthorizetheexecutionanddeliverybytheStockholderofthisVotingAgreement,theperformancebytheStockholderoftheStockholder'sobligationshereunder(including,withoutlimitation,Section 3(c) )andtheconsummationofthetransactionscontemplatedhereby.

(b) Execution; Delivery; Enforceability. TheStockholderhasdulyexecutedanddeliveredthisVotingAgreement,andthisVotingAgreementconstitutesthevalidandbindingobligationoftheStockholder,enforceableagainsttheStockholderinaccordancewithitsterms,exceptthatsuchenforceability(i)maybelimitedbybankruptcy,insolvency,moratoriumorothersimilarlawsaffectingorrelatingtotheenforcementofcreditors'rightsgenerallyand(ii)issubjecttogeneralprinciplesofequity,whetherappliedinacourtoflaworacourtofequity.Noconsentof,orregistrationorfilingwith,anyGovernmentalAuthorityisrequiredtobeobtainedormadebyorwithrespecttotheStockholderinconnectionwiththeexecution,deliveryandperformanceofthisVotingAgreement,theperformancebytheStockholderoftheStockholder'sobligationshereunder(including,without

Page 89: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

limitation,Section 3(c) )ortheconsummationofthetransactionscontemplatedhereby,otherthan(1)suchreports,schedulesorstatementsunderSections13(d)and16oftheExchangeActasmayberequiredinconnectionwiththisVotingAgreementandthetransactionscontemplatedherebyand(2)suchconsents,registrationsorfilingsthefailureofwhichtobeobtainedormadewouldnothaveamaterialadverseeffectontheStockholder'sabilitytoperformitsobligationshereunder.

(c) No Conflict. TheexecutionanddeliveryofthisVotingAgreementdonot,andtheconsummationofthetransactionscontemplatedherebyandcompliancewiththeprovisionshereofwillnot,conflictwith,resultinabreachorviolationofordefault(withorwithoutnoticeorlapseoftimeorboth)under,orrequirenoticetoortheconsentofanypersonunder,anyagreement,law,rule,regulation,judgment,orderordecreebywhichtheStockholderisbound,exceptforsuchconflicts,breaches,violationsordefaultsthatwouldnot,individuallyorintheaggregate,preventormateriallydelaytheStockholderfromperforminghis,heroritsobligationsunderthisVotingAgreement.

(d) The Subject Shares. Asofthedatehereof,theStockholderisthebeneficialowneroftheSubjectShareslistedonSchedule A acrossfromhis,heroritsname,freeandclearofanyLien(otherthananyrestrictionsorrightscreatedbythisVotingAgreement,underapplicablefederalorstatesecuritieslawsorpursuanttoanywrittenpoliciesoftheCompanywithrespecttothetradingofsecuritiesinconnectionwithinsidertradingrestrictions,applicablesecuritieslawsandsimilarconsiderations).TheSubjectSharesconstitutetheStockholder'sentireinterestintheoutstandingsharesofcapitalstockoftheCompany.Asofthedatehereof,theStockholderdoesnotown,beneficiallyorofrecord,anyrightstopurchaseoracquireanysharesofcapitalstockoftheCompanyexceptassetforthonSchedule AoppositetheStockholder'sname.TheStockholderhassolevotingpower,solepowerofdisposition,solepowertoissueinstructionswithrespecttothematterssetforthherein,andsolepowertoagreetoallofthematterssetforthinthisVotingAgreement,ineachcasewithrespecttoalloftheSubjectShares,withnolimitations,qualificationsorrestrictionsonsuchrights(otherthananyrestrictionsorrightscreatedbythisVotingAgreement).NoneoftheSubjectSharesownedbytheStockholderaresubjecttoanyvotingtrustorothervotingagreementwithrespecttotheSubjectShares,exceptascontemplatedbythisVotingAgreement.

(e) Absence of Litigation. ThereisnoProceedingpendingagainstor,totheknowledgeoftheStockholder,threatenedagainsttheStockholderortheSubjectSharesthatcouldreasonablybeexpectedtoimpairoraffecttheabilityoftheStockholdertoperformitsobligationshereunderortoconsummatethetransactionscontemplatedherebyonatimelybasis.

(f) Reliance. TheStockholderunderstandsandacknowledgesthatParentisenteringintotheMergerAgreementinrelianceupontheStockholder'sexecution,deliveryandperformanceofthisVotingAgreement.

Section2. Representations and Warranties of Parent. ParentherebyrepresentsandwarrantstotheStockholderasfollows:

(a) Authority; Enforceability. ParenthasallrequisitecorporatepowerandauthoritytoexecuteanddeliverthisVotingAgreement,toperformitsobligationshereunderandtoconsummatethetransactionscontemplatedhereby.Theexecution,deliveryandperformancebyParentofthisVotingAgreement,theperformancebyParentofitsobligationshereunderandconsummationofthetransactionscontemplatedherebyhavebeendulyandvalidlyauthorizedbyallnecessaryactiononthepartofParent,andnootheractionsonthepartofParentarenecessarytoauthorizetheexecutionanddeliverybyParentofthisVotingAgreement,theperformancebyParentofParent'sobligationshereunderandtheconsummationofthetransactionscontemplatedhereby.

(b) Execution; Delivery. ParenthasdulyexecutedanddeliveredthisVotingAgreement,andthisVotingAgreementconstitutesthevalidandbindingobligationofParent,enforceableagainstParentinaccordancewithitsterms,exceptthatsuchenforceability(i)maybelimitedbybankruptcy,insolvency,

2

Page 90: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

moratoriumorothersimilarlawsaffectingorrelatingtotheenforcementofcreditors'rightsgenerallyand(ii)issubjecttogeneralprinciplesofequity.Noconsentof,orregistrationorfilingwith,anyGovernmentalAuthorityisrequiredtobeobtainedormadebyorwithrespecttoParentinconnectionwiththeexecution,deliveryandperformanceofthisVotingAgreementortheconsummationofthetransactionscontemplatedhereby,otherthan(1)reports,schedulesorstatementsbyParentunderSections13(d)and16oftheExchangeActasmayberequiredinconnectionwiththisVotingAgreementandthetransactionscontemplatedherebyand(2)suchconsents,registrationsorfilingsthefailureofwhichtobeobtainedormadewouldnothaveamaterialadverseeffectonParent'sabilitytoperformitsobligationshereunder.

(c) No Conflict. TheexecutionanddeliveryofthisVotingAgreementdonot,andtheconsummationofthetransactionscontemplatedherebyandcompliancewiththeprovisionshereofwillnot,conflictwith,resultinabreachorviolationofordefault(withorwithoutnoticeorlapseoftimeorboth)under,orrequirenoticetoortheconsentofanypersonunder,anyagreement,law,rule,regulation,judgment,orderordecreebywhichParentisbound,exceptforsuchconflicts,breaches,violationsordefaultsthatwouldnot,individuallyorintheaggregate,preventormateriallydelayParentfromperformingitsobligationsunderthisVotingAgreement.

Section3. Covenants of the Stockholder.

(a) Support. TheStockholdercovenantsandagrees,(forsolongasanysuchbelowactiontakesplacepriortotheExpirationDate(asdefinedinSection 4below),asfollows:

(i) Agreement to Vote. AteverymeetingofthestockholdersoftheCompany(andateveryadjournmentorpostponementthereof)calledtoseek,andineveryothercircumstanceinwhichavote,action,writtenconsent,resolutionorotherapprovalofthestockholdersoftheCompanyisproposedseeking,theCompanyStockholderApproval,approvaloftheMerger,adoptionoftheMergerAgreement,orapprovalofanyothertransactionpursuanttoorcontemplatedbytheMergerAgreement,andanymatterthatwouldreasonablybeexpectedtofacilitatetheconsummationoftheMerger(including,withoutlimitation,anyadjournmentofanymeetingofthestockholdersinordertosolicitadditionalproxiesinfavorofapprovaloftheMergerandadoptionoftheMergerAgreementiftherearenotsufficientvotestoobtaintheCompanyStockholderApproval),theStockholder(A)shall,ifameetingisheld,appearatsuchmeetingorotherwisecausetheSubjectSharestobecountedaspresentatsuchmeetingforpurposesofestablishingaquorumand(B)shallvote(orcausetobevoted)theSubjectShares:

(1)infavorof(x)grantingtheCompanyStockholderApproval,includingapprovingtheMergerandadoptingtheMergerAgreement,and(y)approvinganyothertransactionpursuanttoorcontemplatedbytheMergerAgreement,andanyothermatterthatcouldreasonablybeexpectedtofacilitatetheconsummationoftheMerger;and

(2)against(w)anyCompanyTakeoverProposal(otherthantheMergerAgreementandtheMerger),(x)anyothermatterthatcouldreasonablybeexpectedtoimpede,interferewith,delay,postponeoradverselyaffecttheconsummationoftheMergeroranyofthetransactionscontemplatedbytheMergerAgreement,and(y)anyotheraction,transactionoragreementthatcouldreasonablybeexpectedtoresultinabreachofanyrepresentation,warranty,covenantoragreementoftheCompanyintheMergerAgreementorofanyStockholderinthisVotingAgreement.

Fortheavoidanceofdoubt,anyobligationpursuanttotheforegoingclause(2)shallnotbereadtoaffect,reduceoreliminatetheobligationofanyStockholderpursuanttoclause(1)above.

AnyattemptbytheStockholdertovote,consentorexpressdissentwithrespectto(orotherwisetoutilizethevotingpowerof),theSubjectSharesincontraventionofthisSection 3(a) shallbenullandvoidab initio .IftheStockholderisthebeneficialowner,butnottheholderofrecord,ofany

3

Page 91: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

SubjectShares,theStockholderagreestousereasonablebesteffortstotake,orcausetobetaken,allactionsreasonablynecessarytocausetheholderofrecordandanynomineestovote(orexerciseaconsentwithrespectto)allofsuchSubjectSharesinaccordancewiththisSection 3(a) .

(ii) Consents and Waivers. TheStockholderherebygivesanyconsentsorwaiversthatarereasonablyrequiredfortheconsummationoftheMergerunderthetermsofanyContractstowhichtheStockholderisapartyorpursuanttoanyrightstheStockholdermayhave.

(iii) Company Change in Recommendation. NotwithstandinganythingtothecontraryinthisVotingAgreement,ifatanytimefollowingthedatehereofanduntiltheExpirationDatethereoccursaCompanyChangeofRecommendationpursuanttoSection 4.04(f) oftheMergerAgreement(a"Changeof Recommendation Event "),thentheobligationsoftheStockholderunderSection 3(a)(i) andSection 3(c) ,includingtheobligationsofsuchStockholdertograntto,andappoint,ParentoritsdesigneeastheStockholder'sproxyandattorney-in-factinaccordancewithSection 3(c) ,shallbelimitedtothenumberofsharesofCompanyCommonStockheldbysuchStockholder,roundeddowntothenearestwholeshare,equaltotheproductof(a)suchStockholder'sProRataSharemultipliedby(b)theCoveredCompanyCommonStock(asdefinedbelow)(suchamount,the"Covered Shares ");providedthatallotherobligationsandrestrictionscontainedinthisVotingAgreement,includingthosesetforthinthisSection 3(a)(iii) shallcontinuetoapplytoalloftheSubjectShares;provided ,further ,thatifaChangeofRecommendationEventoccurs,notwithstandinganyotherobligationshereunder,theStockholdershallbeexpresslypermittedtovoteitsSubjectSharesandtograntorappointanyPersonasitsproxyandattorney-infactwithrespecttoitsSubjectSharesthatarenotCoveredSharesinitssolediscretionwithrespecttothematterssetforthinSection 3(a)(i) .ForpurposesofthisVotingAgreement,(i)the"Covered Company Common Stock "shallmeanthetotalnumberofsharesofCompanyCommonStockoutstandingasoftherecorddateoftheapplicablestockholdermeetingmultipliedby0.30and(ii)theStockholder's"Pro Rata Share "shallmeanthequotientof(A)thenumberofSubjectSharesheldbytheStockholder,dividedby(B)thesumof(1)thenumberofSubjectSharesheldbytheStockholder,plus(2)thenumberofSubjectShares(assuchtermisdefinedineachoftheOtherVotingAgreements)heldbyalloftheotherSupportingStockholders,intheaggregate.

(b) No Transfer or Encumbrance of Subject Shares.

(i)OtherthanaPermittedTransfer(asdefinedbelow),noStockholdershall,withrespecttoanySubjectSharesowned,beneficiallyorofrecord,bytheStockholder,(1)Transfer(asdefinedbelow)anysuchSubjectShares,(2)permittoexistanyLiens(otherthanthosecreatedbythisVotingAgreement)onanyofsuchSubjectShares,(3)depositanysuchSubjectSharesintoavotingtrustorenterintoavotingagreementorarrangementwithrespecttosuchSubjectSharesorgrantanyproxy(exceptasotherwiseprovidedherein)orpowerofattorneywithrespectthereto,or(4)takeorpermitanyotheractionthatwouldinanywayrestrict,limitorinterferewiththeperformanceoftheStockholder'sobligationshereunder.

(ii)AnyTransferorattemptedTransferofanySubjectSharesinviolationofthisSection 3(b) shall,tothefullestextentpermittedbylaw,benullandvoidab initio .IfanyinvoluntaryTransferofSubjectSharesoftheStockholdershalloccur(including,butnotlimitedto,asalebytheStockholder'strusteeinanybankruptcy,orasaletoapurchaseratanycreditor'sorcourtsale),thetransferee(whichterm,asusedherein,shallincludeanyandalltransfereesandsubsequenttransfereesoftheinitialtransferee)shalltakeandholdsuchSubjectSharessubjecttoalloftherestrictions,liabilitiesandrightsunderthisVotingAgreement,whichshallcontinueinfullforceandeffectuntilvalidterminationofthisVotingAgreement.

(iii)ForpurposesofthisVotingAgreement,"Transfer "means(1)anydirectorindirectoffer,sale,lease,assignment,encumbrance,loan,gift,pledge,grantofasecurityinterest,hypothecation,

4

Page 92: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

dispositionorothertransfer(byoperationoflaworotherwise),eithervoluntaryorinvoluntary,orentryintoanycontract,optionorotherarrangementorunderstandingwithrespecttoanyoffer,sale,lease,assignment,encumbrance,loan,gift,pledge,hypothecation,dispositionorothertransfer(byoperationoflaworotherwise),ofanycapitalstockorinterestinanycapitalstock(oranysecurityconvertibleorexchangeableintosuchcapitalstock),includingineachcasethroughtheTransferofanypersonoranyinterestinanyperson,or(2)inrespectofanycapitalstockorinterestinanycapitalstock,toenterintoanyswaporanyotheragreement,transactionorseriesoftransactionsthathedgesortransfers,inwholeorinpart,directlyorindirectly,theeconomicconsequenceofownershipofsuchcapitalstockorinterestincapitalstock,whetheranysuchswap,agreement,transactionorseriesoftransactionsistobesettledbydeliveryofsecurities,incashorotherwise.

(iv)ForpurposesofthisVotingAgreement,"Permitted Transfer "means,withrespecttotheStockholder,suchTransferis(1)inaccordancewithapplicableLawand(2)(A)usingalready-ownedSubjectShares(oreffectinga"netexercise"ofaCompanyStockOptionora"netsettlement"ofaCompanyRSU)eithertopaytheexercisepriceupontheexerciseofaCompanyStockOptionortosatisfytheStockholder'staxwithholdingobligationupontheexerciseofaCompanyStockOptionorsettlementofaCompanyRSU,ineachcaseaspermittedpursuanttothetermsofanyoftheCompanyStockPlansor(B)transferringSubjectSharestoaffiliates,immediatefamilymembers,atrustestablishedforthebenefitoftheStockholderand/orforthebenefitofoneormoremembersoftheStockholder'simmediatefamilyorcharitableorganizations,includingadonor-advisedfund,oruponthedeathoftheStockholder(provided that,asaconditiontosuchTransfer,therecipientexecutesajoindertothisVotingAgreement,informandsubstancereasonablyacceptabletoParent);provided ,thatnosuchTransfershallrelievethetransferringStockholderfromitsobligationsunderthisVotingAgreement,otherthanwithrespecttotheSubjectSharesactuallytransferredinaccordancewiththeforegoingprovision.Theterm"affiliate",asusedherein,withrespecttoapersonshallincludewithoutlimitationanygeneralorlimitedpartner,managingmember,officerordirectorofsuchpersonoranyventurecapitalfundnoworhereafterexistingthatiscontrolledbyoneormoregeneralpartners(ormemberthereof)ormanagingmembers(ormemberthereof)of,orsharesthesamemanagementcompany(ormemberthereof)with,suchpersonoranygeneralorlimitedpartner,managingmember,officerordirectorofanysuchfund.

(v)AtalltimescommencingwiththeexecutionanddeliveryofthisVotingAgreementandcontinuinguntiltheExpirationDate,infurtheranceofthisVotingAgreement,theStockholderherebyauthorizeseachofParent,theCompanyandtheirrespectivecounselstonotifytheCompany'stransferagentthatthereisastoptransferorderwithrespecttoalloftheSubjectShares(andthatthisVotingAgreementplaceslimitsonthevotingandtransferoftheSubjectShares),subjecttotheprovisionshereof,includingPermittedTransfers.ThepartiesagreethatsuchstoptransferordershallberemovedandshallbeofnofurtherforceandeffectupontheExpirationDate.

(c) IRREVOCABLE PROXY. ByexecutionofthisVotingAgreement,(i)theStockholderherebygrantstoParent(andanydesigneeofParent)aproxy(andappointsParentoranysuchdesigneeofParentasitsattorney-in-fact)tovote,andtoexerciseallvotingandconsentrightsoftheStockholderwithrespectto,theSubjectSharesownedbeneficiallyorofrecordbytheStockholder(including,withoutlimitation,thepowertoexecuteanddeliverwrittenconsents)inaccordancewithSection 3(a)(i) atanyannual,special,adjournedorpostponedmeetingofstockholdersoftheCompanyatwhichanyofthetransactions,actionsorproposalscontemplatedbySection 3(a)(i) areorwillbeconsideredandineverywrittenconsentinlieuofsuchmeetingand(ii)suchproxyandappointmentshall(A)beirrevocableinaccordancewiththeprovisionsofSection212(e)oftheDGCL,(B)becoupledwithaninterest,and(C)survivethedissolution,bankruptcyorotherincapacityofsuchStockholderaswellas

5

Page 93: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

thedeath,bankruptcyorotherincapacityofsuchStockholder;provided,thatanygrantofsuchproxyshallonlyentitleParentoritsdesigneetovoteonthemattersspecifiedbySection 3(a)(i) ,andtheStockholdershallretaintheauthoritytovoteonallothermatters.TheStockholderherebyrepresentsthatanyproxiesheretoforegiveninrespectofsuchStockholder'sSubjectShares,ifany,arerevocable,andherebyrevokesallsuchproxies,andthatsuchStockholderagreesnottograntanysubsequentproxieswithrespecttosuchSubjectShares,excepttocomplywithits,hisorherobligationsunderSection 3(a) .TheStockholderherebyaffirmsthattheirrevocableproxysetforthinthisSection 3(c) isgiveninconnectionwiththeexecutionoftheMergerAgreement,andthatsuchirrevocableproxyisgiventosecuretheperformanceofthedutiesofsuchStockholderunderthisVotingAgreement.TheStockholderherebyratifiesandconfirmsallactionsthattheproxiesappointedhereundermaylawfullydoorcausetobedoneinaccordancewiththisVotingAgreement.

(d) Capacity. NotwithstandinganythingtothecontraryinthisVotingAgreement(includingtherestrictionssetforthinSection 3(e) ),(i)theStockholderisenteringintothisVotingAgreement,andagreeingtobecomeboundhereby,solelyinhis,heroritscapacityasastockholderoftheCompanyandnotinanyothercapacity(includingwithoutlimitationanycapacityasadirectoroftheCompany)and(ii)nothinginthisVotingAgreementwillbeconstruedtoprohibit,limitorrestrictanyStockholderwhoisalsoadirectoroftheCompanyoranydirectornominatedbytheStockholderfromexercisingsuchdirector'sfiduciarydutiesinhisorhercapacityasadirectoroftheCompany.TheStockholdershall(i)notbeliableorresponsiblehereunderforanyactiontakenorvotemadebyadirectoroftheCompanyinsuchperson'scapacityasadirectorand(ii)notberequiredtoremoveitsnominee(ifany)fromtheboardofdirectorsoftheCompanyordirectsuchnomineetovoteorrefrainfromvotingonanymatterbeforetheboardofdirectorsoftheCompanyinanymanner.

(e) Non-Solicitation. TheStockholderagreesthatitwillnottakeanyactionthattheCompanyisprohibitedfromtakingpursuanttoSection 4.04 (Non-Solicitation)oftheMergerAgreement.

(f) Additional Acquisitions; Adjustments. TheStockholderagreesthatanysharesofCompanyCommonStockandanyothersharesofcapitalstockoftheCompanyorotherequityoftheCompanythattheStockholderpurchasesorotherwiseacquiresorwithrespecttowhichtheStockholderotherwiseacquiresbeneficialownership(asdefinedinRule13d-3undertheExchangeAct)aftertheexecutionofthisVotingAgreement(the"New Shares ")andpriortotheExpirationDate,shallbesubjecttothetermsandconditionsofthisVotingAgreementtothesameextentasiftheNewShareshadbeenSubjectSharesasofthedateofthisVotingAgreement.Intheeventofanystocksplit,stockdividend,merger,reorganization,recapitalization,reclassification,combination,exchangeofsharesorthelikeofthecapitalstockoftheCompanyaffectingtheSubjectShares,thetermsofthisVotingAgreementshallapplytotheresultingshares.

(g) Waiver of Certain Actions. TheStockholderherebyagreesnottocommenceorparticipatein,andtotakeallactionsnecessarytooptoutofanyclassinanyclassactionwithrespectto,anyTransactionLitigation.

Section4. Termination. ThisVotingAgreementshallterminateupon,andasusedinthisVotingAgreement,theterm"Expiration Date "shallmean,theearliesttooccurof(a)theEffectiveTime,(b)thedatetheCompanyBoardmakesaCompanyChangeofRecommendationpursuanttoSection 4.04(e) oftheMergerAgreement,(c)theterminationoftheMergerAgreementinaccordancewithitsterms,and(d)uponmutualwrittenagreementofthepartiestoterminatethisVotingAgreement.NothinginthisSection 4 shallrelieveorotherwiselimittheliabilityofanyStockholderforanybreachofthisVotingAgreementpriortosuchtermination.

Section5. Further Assurances. SubjecttothetermsandconditionsofthisVotingAgreement,theStockholdershallusecommerciallyreasonableeffortstotake,orcausetobetaken,allactions,andtodo,orcausetobedone,allthingsnecessarytofulfilltheStockholder'sobligationsunderthisVotingAgreement.

6

Page 94: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

Section6. General Provisions.

(a) Amendments. NoprovisionofthisVotingAgreementmaybeamendedunlesssuchamendmentisinwritingandsignedby(i)Parentand(ii)theStockholder.Nofailureordelaybyanypartyheretoinexercisinganyright,powerorprivilegehereundershalloperateasawaiverthereofnorshallanysingleorpartialexercisethereofprecludeanyotherorfurtherexercisethereofortheexerciseofanyotherright,powerorprivilege.Therightsandremedieshereinprovidedshallbecumulativeandnotexclusiveofanyrightsorremediesprovidedbyapplicablelaw.

(b) Notices. Allnotices,requests,claims,consents,demandsandothercommunicationsunderthisVotingAgreementshallbeinwritingandshallbedeliveredeitherinperson,byovernightcourier,byregisteredorcertifiedmail,orelectronicmail,andshallbedeemedtohavebeendulygiven(i)uponreceipt,ifdeliveredpersonallyorbyovernightcourier,withovernightdeliveryandwithacknowledgementofreceiptrequested,(ii)three(3)BusinessDaysaftermailing,ifmailedbyregisteredorcertifiedmail(postageprepaid,returnreceiptrequested)or(iii)ontheBusinessDaythetransmissionismadeiftransmittedbyelectronicmailpriorto5:00p.m.PacificTimeonaBusinessDayoronthesucceedingBusinessDayifthetransmissionismadebyelectronicmailaftersuchtimeonaBusinessDayoronanon-BusinessDay(provided,ineachcase,thatthepartysendingsuchnoticedoesnotreceivenotificationwithin12hoursthatsuchtransmissionwasunsuccessful),totheCompanyandParentattheaddresssetforthinSection 8.02 oftheMergerAgreementandtotheStockholderathis,heroritsaddresssetforthinSchedule A hereto(oratsuchotheraddressforapartyasshallbespecifiedbylikenotice).

(c) Interpretation. WhenareferenceismadeinthisVotingAgreementtoaSectionorSchedule,suchreferenceshallbetoaSectionof,oraScheduleto,thisVotingAgreementunlessotherwiseindicated.TheheadingscontainedinthisVotingAgreementareforreferencepurposesonlyandshallnotaffectinanywaythemeaningorinterpretationofthisVotingAgreement.Wheneverthewords"include,""includes"or"including"areusedinthisVotingAgreement,theyshallbedeemedtobefollowedbythewords"withoutlimitation."Thewords"hereof,""herein"and"hereunder"andwordsofsimilarimportwhenusedinthisVotingAgreementshallrefertothisVotingAgreementasawholeandnottoanyparticularprovisionofthisVotingAgreement.ThedefinitionscontainedinthisVotingAgreementareapplicabletothesingularaswellasthepluralformsofsuchtermsandtothemasculineaswellastothefeminineandneutergendersofsuchterms.Anyagreement,instrumentorstatutedefinedorreferredtohereinorinanyagreementorinstrumentthatisreferredtohereinmeanssuchagreement,instrumentorstatuteasfromtimetotimeamended,modifiedorsupplemented,including(inthecaseofagreementsorinstruments)bywaiverorconsentand(inthecaseofstatutes)bysuccessionofcomparablesuccessorstatutesandreferencestoallattachmentstheretoandinstrumentsincorporatedtherein.Referencestoapersonarealsotoitssuccessorsandpermittedassigns.

(d) Severability. IfanytermorotherprovisionofthisVotingAgreementisinvalid,illegalorincapableofbeingenforcedbyanyruleoflaworpublicpolicy,allotherconditionsandprovisionsofthisVotingAgreementshallneverthelessremaininfullforceandeffect.Uponsuchdeterminationthatanytermorotherprovisionisinvalid,illegalorincapableofbeingenforced,thepartiesheretoshallnegotiateingoodfaithtomodifythisVotingAgreementsoastoeffecttheoriginalintentofthepartiesascloselyaspossibletothefullestextentpermittedbyapplicablelawinanacceptablemannertotheendthatthetransactionscontemplatedherebyarefulfilledtotheextentpossible.

(e) Specific Performance. ThepartiesagreethatirreparabledamagemayoccurandthatParentmaynothaveanyadequateremedyatlawintheeventthatanyoftheprovisionsofthisVotingAgreementwerenotperformedinaccordancewiththeirspecifictermsorwereotherwisebreached.ItisaccordinglyagreedthatintheeventofanybreachorthreatenedbreachbyanyStockholderofanycovenantorobligationcontainedinthisVotingAgreement,ParentshallbeentitledtoaninjunctionorinjunctionstopreventbreachesofthisVotingAgreementandtoenforcespecificallythetermsand

7

Page 95: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

provisionsofthisVotingAgreement,withoutthenecessityofpostingbondsorsimilarundertakingsinconnectiontherewith,thisbeinginadditiontoanyotherremedywhichmaybeavailabletoParentatlaworinequity,includingmonetarydamages.TheStockholderherebywaivesandagreesnottoassertanyobjectionstoanyremedyreferredtointhisSection 6(e) (includinganyobjectiononthebasisthatthereisanadequateremedyatlaworthatanawardofsuchremedyisnotanappropriateremedyforanyreasonatlaworequity).

(f) Other Remedies. Exceptasotherwiseprovidedherein,anyandallremedieshereinexpresslyconferreduponapartywillbedeemedcumulativewithandnotexclusiveofanyotherremedyconferredhereby,orbylaworequityuponsuchparty,andtheexercisebyapartyofanyoneremedywillnotprecludetheexerciseofanyotherremedy.

(g) Counterparts. ThisVotingAgreementmaybeexecutedinanynumberofcounterparts,eachsuchcounterpartbeingdeemedtobeanoriginalinstrument,andallsuchcounterpartsshalltogetherconstitutethesameagreement.

(h) Entire Agreement; No Third-Party Beneficiaries. ThisVotingAgreement(includingthedocumentsandinstrumentsreferredtoherein,includingtheMergerAgreement)constitutetheentireagreement,andsupersedeallprioragreementsandunderstandings,bothwrittenandoral,amongthepartieswithrespecttothesubjectmatterofthisVotingAgreement.NothinginthisVotingAgreementisintendedtoconfer,anddoesnotconfer,anyrightsorremediesunderorbyreasonofthisVotingAgreement(oranybreachhereof)onanypersonotherthanthepartiesheretoandtheirrespectivesuccessorsandpermittedassigns.

(i) Governing Law. ThisVotingAgreementshallbegovernedby,andconstruedinaccordancewith,thelawsoftheStateofDelaware,regardlessofthelawsthatmightotherwisegovernunderapplicableprinciplesofconflictoflaws.

(j) Waiver of Jury Trial. EACHPARTYHERETOACKNOWLEDGESANDAGREESTHATANYCONTROVERSYWHICHMAYARISEUNDERTHISVOTINGAGREEMENTORTHEDOCUMENTSRELATEDHERETOISLIKELYTOINVOLVECOMPLICATEDANDDIFFICULTISSUES,ANDTHEREFOREEACHSUCHPARTYHERETOHEREBYIRREVOCABLYANDUNCONDITIONALLYWAIVESANYRIGHTSUCHPARTYMAYHAVETOATRIALBYJURYINRESPECTOFANYLITIGATIONDIRECTLYORINDIRECTLYARISINGOUTOFORRELATINGTOTHISVOTINGAGREEMENTORTHETRANSACTIONSCONTEMPLATEDHEREBY,INCLUDINGANYCONTROVERSYINVOLVINGANYREPRESENTATIVEOFPARENTORANYSTOCKHOLDERUNDERTHISVOTINGAGREEMENT.EACHPARTYHERETOCERTIFIESANDACKNOWLEDGESTHAT(i)NOREPRESENTATIVE,AGENTORATTORNEYOFANYOTHERPARTYHASREPRESENTED,EXPRESSLYOROTHERWISE,THATSUCHOTHERPARTYWOULDNOT,INTHEEVENTOFLITIGATION,SEEKTOENFORCETHEFOREGOINGWAIVER,(ii)SUCHPARTYUNDERSTANDSANDHASCONSIDEREDTHEIMPLICATIONSOFTHISWAIVER,(iii)SUCHPARTYMAKESTHISWAIVERVOLUNTARILY,AND(iv)SUCHPARTYHASBEENINDUCEDTOENTERINTOTHISVOTINGAGREEMENTBY,AMONGOTHERTHINGS,THEMUTUALWAIVERSANDCERTIFICATIONSINTHISSECTION 6(j).

(k) Assignment. NeitherthisVotingAgreementnoranyoftherights,interestsorobligationsunderthisVotingAgreementshallbeassigned,inwholeorinpart,byoperationoflaworotherwisebyanyofthepartiesheretowithoutthepriorwrittenconsentofParent.AnyattemptedorpurportedassignmentinviolationofthisSection 6(k) shallbenullandvoidandofnoeffectwhatsoever.SubjecttotheprovisionsofthisSection 6(k) ,thisVotingAgreementshallbebindingupon,inuretothebenefitof,andbeenforceableby,thepartiesandtheirrespectivesuccessorsandpermittedassigns.

8

Page 96: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

(l) No Agreement Until Executed. IrrespectiveofnegotiationsamongthepartiesortheexchangingofdraftsofthisVotingAgreement,thisVotingAgreementshallnotconstituteorbedeemedtoevidenceacontract,agreement,arrangementorunderstandingbetweenthepartiesheretounlessanduntil(i)theMergerAgreementisexecutedbyallpartiestheretoand(ii)thisVotingAgreementisexecutedbyallpartieshereto.

(m) Consent to Jurisdiction. Eachofthepartieshereto(i)irrevocablysubmitshimself,herselforitselftotheexclusivejurisdictionoftheCourtofChanceryoftheStateofDelawareor,totheextentsuchcourtdoesnothavejurisdiction,theUnitedStatesDistrictCourtoftheDistrictofDelaware,aswellastothejurisdictionofallcourtstowhichanappealmaybetakenfromsuchcourts,inanyProceedingarisingoutoforrelatingtothisVotingAgreementoranyofthetransactionscontemplatedherein,(ii)agreesthateverysuchProceedingshallbebrought,heardanddeterminedexclusivelyinsuchcourt,(iii)agreesthatitshallnotattempttodenyordefeatsuchpersonaljurisdictionbymotionorotherrequestforleavefromsuchcourt,(iv)agreesnottobringanyProceedingarisingoutoforrelatingtothisVotingAgreementoranyofthetransactionscontemplatedhereininanyothercourt,and(v)waivesanydefenseofinconvenientforumtothemaintenanceofanyProceedingsobrought.Eachofthepartiesheretoagreesthatserviceofanyprocess,summons,noticeordocumentinthemannersetforthinSection 6(b) shallbeeffectiveserviceofprocessforanyProceedingbroughtagainstit.

[SignaturePageFollows]

9

Page 97: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

INWITNESSWHEREOF,eachpartyhasdulyexecutedthisVotingAgreement,allasofthedatefirstwrittenabove.

GLAUKOSCORPORATION

By

Name: Title:

Page 98: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

INWITNESSWHEREOF,eachpartyhasdulyexecutedthisVotingAgreement,allasofthedatefirstwrittenabove.

STOCKHOLDER:

If an entity:

Name:

By:

Name: Title:

If an individual:

Name:

Page 99: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

SCHEDULE A

Notice

[Stockholder]c/o[][Address][Address][Address]Attention:[]Email:[]

withacopy(whichshallnotconstitutenoticetotheStockholder)to:

c/o[][Address][Address][Address]Attention:[]Email:[]

Stockholder Subject Shares[Stockholder] []

Page 100: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

QuickLinks

Exhibit10.1

VOTINGAGREEMENTWITNESSETH

Section1.RepresentationsandWarrantiesoftheStockholder.(a)Authority.(b)Execution;Delivery;Enforceability.(c)NoConflict.(d)TheSubjectShares.(e)AbsenceofLitigation.(f)Reliance.Section2.RepresentationsandWarrantiesofParent.(a)Authority;Enforceability.(b)Execution;Delivery.(c)NoConflict.Section3.CovenantsoftheStockholder.(a)Support.(b)NoTransferorEncumbranceofSubjectShares.(c)IRREVOCABLEPROXY.(d)Capacity.(e)Non-Solicitation.(f)AdditionalAcquisitions;Adjustments.(g)WaiverofCertainActions.Section4.Termination.Section5.FurtherAssurances.Section6.GeneralProvisions.(a)Amendments.(b)Notices.(c)Interpretation.(d)Severability.(e)SpecificPerformance.(f)OtherRemedies.(g)Counterparts.(h)EntireAgreement;NoThird-PartyBeneficiaries.(i)GoverningLaw.(j)WaiverofJuryTrial.(k)Assignment.(l)NoAgreementUntilExecuted.(m)ConsenttoJurisdiction.

SCHEDULEA

Page 101: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

QuickLinks--Clickheretorapidlynavigatethroughthisdocument

Exhibit 99.1

FOR IMMEDIATE RELEASE

Glaukos and Avedro Announce Definitive Acquisition Agreement

Adds Novel Bio-Activated Pharmaceuticals to Glaukos' New Corneal Health Franchise

Potential Revenue Synergies from Complementary Product Portfolios that Leverage Glaukos' Commercial Scale, Market-Building Experience and SharedReimbursement Expertise and Customer Relationships

Expanded Pharmaceutical and Device Research, Development and Clinical Capabilities that Enhance Ability to Provide Innovative Hybrid Ophthalmic Therapiesto Patients

Acquisition Expected to Accelerate Glaukos' Revenue Growth Rate in 2020 and be Accretive to Operating Results and Cash Flows by 2021

Executives to Discuss Transaction on Glaukos' Second Quarter Financial Results Conference Call at 1:30 p.m. PDT Today, August 7, 2019

San Clemente, CA—August 7, 2019 —GlaukosCorporation(NYSE:GKOS),anophthalmicmedicaltechnologyandpharmaceuticalcompanyfocusedonnoveltherapiesforthetreatmentofglaucoma,cornealdisordersandretinaldiseases,andAvedro,Inc.(Nasdaq:AVDR),aleadinghybridophthalmicpharmaceuticalandmedicaltechnologycompanyfocusedontreatingcornealdiseaseanddisorders,todayannouncedthatthecompanieshaveenteredintoadefinitivemergeragreementunderwhichGlaukoswillacquireAvedroinanall-stocktransaction.Thetransaction,whichissubjecttoAvedrostockholderapprovalalongwithothercustomaryclosingconditionsandregulatoryapprovals,hasbeenapprovedbytheboardofdirectorsofbothcompaniesandisexpectedtobecompletedinthefourthquarterof2019.

Theacquisitioncombinestwocomplementary,hybridophthalmicpharmaceuticalanddeviceorganizationsandestablishesthecornerstoneforGlaukos'newcornealhealthfranchise,providingsynergisticavenuesforpotentiallong-termgrowthinlarge,underservedmarkets.Glaukosplanstoleverageitsprovenmarket-buildingexpertise,globalcommercialscaleandextensiveclinicalandregulatoryinfrastructuretomaximizeAvedro'sdisruptivebio-activatedpharmaceuticalsandpipeline.ThetransactionalsoexpandsGlaukos'R&Dcapabilitiesandisexpectedtostrengthenmultiplecornealhealthandvisioncorrectiondevelopmentinitiativesnowunderwayacrossbothorganizations.

"AvedroisanidealfitforGlaukos'corestrengthsincreatinganddisruptingophthalmicmarketswithnoveltherapiesthataddressimportantunmetclinicalneedsofpractitionersandpatients,"saidThomasBurns,Glaukospresidentandchiefexecutiveofficer."Avedrohasinplacemanyofthesame

1

Glaukos Investor Contact: ChrisLewis,Director,InvestorRelations,CorporateDevelopment&[email protected]

Glaukos Media Contact: [email protected]

Avedro Investor Contact: [email protected]

Page 102: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

strategicattributesGlaukosusedtopioneerMIGS,includingproprietaryparadigm-changingsolutions,extensiveclinicalvalidation,broadreimbursementandfirst-to-marketstatus.Ourcombinedorganizationscanpossesstheessentialexpertise,scaleandreachtomaximizetheseopportunities,drivefurthercommercializationofAvedro'sbio-activatedpharmaceuticalsandestablishanothersynergisticanddurableGlaukosfranchisetofuelpotentialnear-andlong-termgrowthandshareholdervalue."

Avedro'splatformusesitsproprietary,bio-activated,single-usePhotrexa®drugformulationstostrengthencornealtissueandhaltprogressionofkeratoconus,adegenerativecornealectaticdiseasethataffectsapproximately1.1millioneyesintheUnitedStates.Typicallydiagnosedinapatient'steenageyears,keratoconusischaracterizedbyprogressivethinningandweakeningofthecornea,resultinginvisionloss.Approximately90%ofcasesarebilateralandasmanyas20%ofpatientsultimatelyrequireacornealtransplant.ConventionaltreatmentsaddresssymptomsbuttheAvedroplatformisthefirstandonlyFDA-approvedtherapythatcanstopdiseaseprogression.AvedroestimatesthetotalU.S.opportunityforitskeratoconustherapytobeapproximately$3billion.

Avedrohasalsodevelopedapipelineofnovelsingleapplicationbio-activatedtopicalophthalmicpharmaceuticalsforcommonrefractiveconditions,includingpresbyopia,lowmyopiaandpost-cataractrefractiveerror,whichareestimatedtohaveacombinedU.S.addressableopportunityofapproximately$23billion.

"AvedroisextremelypleasedwiththepotentialtobecomepartofGlaukos,ahighly-respectedophthalmicorganizationwithasuccessfultrackrecordforgingnewmarketswithdisruptivetechnologieslikeourkeratoconuspharmaceuticaltherapies,"saidRezaZadno,Avedropresidentandchiefexecutiveofficer."Glaukosalreadyhasdeepcustomerrelationshipswiththemajorityofourtargetaccounts,andalarge,seasonedfieldorganizationthatcanunitewithourteamtoaccelerateawareness,adoptionandutilizationofournovelplatform.Inaddition,Glaukoswillbringitsextensiveclinicalandregulatoryresourcestobeartohelpadvanceourpromisingpipelinetherapies.Ibelievethistransactioncanbenefitcustomers,employeesandpatients,whilecreatingvalueforshareholdersthroughownershipinacombinedcompanywiththeexpertise,scaleandresourcestodrivemeaningfulfuturegrowth."

Keystrategicandfinancialbenefitsofthetransactioninclude:

• Avedro fits perfectly with Glaukos' commercial organization: Roughly700ofAvedrotargetaccountsarecomprehensiveophthalmicpracticeswhereGlaukosmaintainsdeeprelationships.Inaddition,theAvedroplatformcanbenefitfroma5-foldincreaseinthesizeofitscurrent17-personU.S.fieldsalesorganization.

• Avedro can accelerate Glaukos' growth trajectory: Avedrogenerated66%year-over-yearrevenuegrowthinthefirsthalfof2019.Oncecombined,theadditionofAvedro'sfast-growingproductportfolioisexpectedtogeneraterevenuegrowthaccelerationforGlaukosbeginningin2020andpotentialrevenuesynergiesbeginningin2021.

• Furthers Glaukos' hybrid strategy: AvedroandGlaukoshavesimilarandcomplementaryhybridpharmaceuticalanddeviceprofilesthatcancombinetocreateauniquesetofR&D,clinical,regulatoryandcommercialcapabilitieswiththepotentialtoenhanceorganizationalsuccess.

• Enhances organic pipeline initiatives and R&D teams: ThecombinedR&DandclinicalorganizationcanprovideGlaukoswithscaleandauniqueblendofintegratedexpertiseacrossophthalmicpharmaceuticals,drugdelivery,micro-scaleengineering,andhardwareandsoftwaredevelopment.Inaddition,anexpandedpipelinecanprovidenewopportunitiestoextendleadershippositionsinhigh-growthophthalmicmarkets.

• Provides attractive financial benefits and potential shareholder value creation: Inadditiontothepotentialforacceleratedrevenuegrowth,Glaukosanticipatesachievingannualizedcostsavingsinexcessof$15millionby2021,primarilythroughreducedpubliccompanyand

2

Page 103: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

administrativecosts.Assuch,thecompanyexpectsthetransactiontobeaccretivetooperatingresultsandcashflowby2021.

Transaction Terms and Approvals

Underthetermsofthemergeragreement,foreachshareofAvedrocommonstocktheyown,Avedroshareholderswillreceiveanexchangeratioequivalentof0.365sharesofGlaukosstock.

Basedontheparties'volumeweightedaverageprices("VWAPs")forthelast60tradingdayspriortoAugust6,2019,thetransactionrepresentsa42%premiumforAvedroshareholders.Uponclosing,Glaukosshareholdersareexpectedtoownapproximately85%ofthecombinedcompany,withAvedroshareholdersexpectedtoowntheremaining15%.

Thetransactionissubjecttocustomaryclosingconditionsandregulatoryapprovals,includingapprovalofthemergerbystockholdersofAvedro.CertainshareholdersofAvedro,includingOrbiMed,HealthQuestandLAVAgile,whichcollectivelyownapproximately41%oftheoutstandingsharesofAvedrocommonstock,haveenteredintovotingagreementstovoteinfavorofthetransaction.

Advisors

PerellaWeinbergPartnersLPisservingasfinancialadvisortoGlaukos,andO'Melveny&MyersLLPisservingasitslegaladvisor.GuggenheimSecuritiesisservingasfinancialadvisortoAvedroandCooleyLLPisservingasitslegaladvisor.

Conference Call, Webcast and Presentation

Glaukoswillholditsregularquarterlyearningsconferencecallandwebcastforinvestorsandanalyststodayat1:30p.m.PDT(4:30p.m.EDT)whereitsmanagementwillalsodiscussthetransactionandthecompany'slong-termgrowthstrategy.TheearningsconferencecallandwebcastwillbeheldjointlywithAvedro,inlieuofAvedro'spreviouslyscheduledcallforThursday,August8.Aninvestorpresentationwillbeavailablefordownload.LinkstothewebcastandpresentationareavailableonGlaukos'websiteathttp://investors.glaukos.comandonAvedro'swebsiteathttp://investors.avedro.com.Toparticipateintheconferencecall,pleasedial833-231-8262(U.S.)or647-689-4107(international)andenterConferenceID3119047.AreplayofthewebcastwillbearchivedonGlaukos'andAvedro'swebsitesfollowingcompletionofthecall.

Glaukos and Avedro Second Quarter 2019 Earnings Results

Inseparatenewsreleasesissuedtoday,GlaukosandAvedroeachannouncedfinancialresultsforthesecondquarterendedJune30,2019.GlaukosandAvedromanagementwilladdressquestionsregardingquarterlyfinancialperformanceaspartofthejointconferencecallandwebcastreferencedabove.Avedro'squarterlyconferencecall,previouslyscheduledfortomorrow,Thursday,August8,hasbeencancelled.

About Glaukos

Glaukos(www.glaukos.com)isanophthalmicmedicaltechnologyandpharmaceuticalcompanyfocusedonnoveltherapiesforthetreatmentofglaucoma,cornealdisordersandretinaldiseases.ThecompanypioneeredMicro-InvasiveGlaucomaSurgery,orMIGS,torevolutionizethetraditionalglaucomatreatmentandmanagementparadigm.GlaukoslaunchedtheiStent® ,itsfirstMIGSdevice,intheUnitedStatesinJuly2012andlauncheditsnext-generationiStent inject®deviceintheUnitedStatesinSeptember2018.Glaukosisleveragingitsplatformtechnologytobuildacomprehensiveandproprietaryportfolioofmicro-scalesurgicalandpharmaceuticaltherapiesinglaucoma,cornealhealthandretinaldisease.

3

Page 104: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

About Avedro

Avedroisaleadinghybridophthalmicpharmaceuticalandmedicaltechnologycompanyfocusedontreatingcornealdiseaseanddisordersandimprovingvisiontoreducedependencyoneyeglassesorcontactlens.Avedro'sproprietarybio-activatedpharmaceuticalsstrengthen,stabilize,andreshapethecorneatotreatcornealectaticdisordersandcorrectrefractiveconditions.Avedro'ssuiteofsingle-usedrugformulationsareappliedtothecorneaandbio-activatedtoinduceareactioncalledcornealcollagencross-linking.

Use of Forward-Looking Statements

Thiscommunicationcontains"forward-lookingstatements"withinthemeaningoffederalsecuritieslaws.Forward-lookingstatementsmaycontainwordssuchas"believes","anticipates","estimates","expects","intends","aims","potential","will","would","could","considered","likely"andwordsandtermsofsimilarsubstanceusedinconnectionwithanydiscussionoffutureplans,actionsoreventsidentifyforward-lookingstatements.Allstatements,otherthanhistoricalfacts,includingstatementsregardingtheexpectedtimingoftheclosingoftheproposedtransactionandtheexpectedbenefitsoftheproposedtransaction,areforward-lookingstatements.Thesestatementsarebasedonmanagement'scurrentexpectations,assumptions,estimatesandbeliefs.WhileGlaukosandAvedrobelievetheseexpectations,assumptions,estimatesandbeliefsarereasonable,suchforward-lookingstatementsareonlypredictions,andaresubjecttoanumberofrisksanduncertaintiesthatcouldcauseactualresultstodiffermateriallyfromthosedescribedintheforward-lookingstatements.

Thefollowingfactors,amongothers,couldcauseactualresultstodiffermateriallyfromthosedescribedintheforward-lookingstatements:(i)failureofAvedrotoobtainstockholderapprovalasrequiredfortheproposedtransaction;(ii)failuretoobtaingovernmentalandregulatoryapprovalsrequiredfortheclosingoftheproposedtransaction;(iii)failuretosatisfytheconditionstotheclosingoftheproposedtransaction;(iv)unexpectedcosts,liabilitiesordelaysinconnectionwithorwithrespecttotheproposedtransaction;(v)theeffectoftheannouncementoftheproposedtransactionontheabilityofAvedroorGlaukostoretainandhirekeypersonnelandmaintainbusinessrelationshipswithcustomers,suppliersandotherswithwhomAvedroorGlaukosdoesbusiness,oronAvedro'sorGlaukos'operatingresults,marketpriceofcommonstock,andbusinessgenerally;(vi)potentiallegalproceedingsrelatingtotheproposedtransactionandtheoutcomeofanysuchlegalproceeding;(vii)theinherentrisks,costsanduncertaintiesassociatedwithintegratingthebusinessessuccessfullyandrisksofnotachievingalloranyoftheanticipatedbenefitsoftheproposedtransaction,ortheriskthattheanticipatedbenefitsoftheproposedtransactionmaynotbefullyrealizedortakelongertorealizethanexpected;(viii)competitivepressuresinthemarketsinwhichAvedroandGlaukosoperate;(ix)theoccurrenceofanyevent,changeorothercircumstancesthatcouldgiverisetotheterminationofthemergeragreement;and(x)otherriskstotheconsummationoftheproposedtransaction,includingtheriskthattheproposedtransactionwillnotbeconsummatedwithintheexpectedtimeperiodoratall.AdditionalfactorsthatmayaffectthefutureresultsofAvedroandGlaukosaresetforthintheirrespectivefilingswiththeSEC,includingeachofAvedro'sandGlaukos'mostrecentlyfiledAnnualReportonForm10-K,subsequentQuarterlyReportsonForm10-Q,CurrentReportsonForm8-KandotherfilingswiththeSEC,whichareavailableontheSEC'swebsiteatwww.sec.gov.TherisksanduncertaintiesdescribedaboveandinAvedro'smostrecentQuarterlyReportonForm10-QandGlaukos'mostrecentQuarterlyReportonForm10-QarenotexclusiveandfurtherinformationconcerningAvedroandGlaukosandtheirrespectivebusinesses,includingfactorsthatpotentiallycouldmateriallyaffecttheirrespectivebusinesses,financialconditionoroperatingresults,mayemergefromtimetotime.Readersareurgedtoconsiderthesefactorscarefullyinevaluatingtheseforward-lookingstatements,andnottoplaceunduerelianceonanyforward-lookingstatements.ReadersshouldalsocarefullyreviewtheriskfactorsdescribedinotherdocumentsthatAvedroandGlaukosfilefromtimetotimewiththeSEC.Theforward-lookingstatementsinthesematerialsspeak

4

Page 105: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

onlyasofthedateofthesematerials.Exceptasrequiredbylaw,AvedroandGlaukosassumenoobligationtoupdateorrevisetheseforward-lookingstatementsforanyreason,evenifnewinformationbecomesavailableinthefuture.

Additional Information and Where to Find It

InconnectionwiththeproposedtransactionbetweenAvedroandGlaukos,GlaukoswillfilewiththeSECaregistrationstatementonFormS-4thatwillincludeadocumentconstitutingaprospectusofGlaukosandwillalsocontainaproxystatementofAvedro.AvedroandGlaukosalsoplantofileotherrelevantdocumentswiththeSECregardingtheproposedtransaction.AftertheregistrationstatementonFormS-4isdeclaredeffectivebytheSEC,adefinitiveproxystatement/prospectuswillbemailedtothestockholdersofAvedro.INVESTORSANDSECURITYHOLDERSAREURGEDTOREADTHEPROXYSTATEMENT/PROSPECTUSANDOTHERRELEVANTDOCUMENTSFILEDWITHTHESECCAREFULLYANDINTHEIRENTIRETYWHENTHEYBECOMEAVAILABLEBECAUSETHEYWILLCONTAINIMPORTANTINFORMATION.InvestorsandsecurityholderswillbeabletoobtainfreecopiesoftheregistrationstatementonFormS-4andtheproxystatement/prospectus(whenavailable)andotherrelevantdocumentsfiledorthatwillbefiledbyAvedroorGlaukoswiththeSECthroughthewebsitemaintainedbytheSECathttp://www.sec.gov.CopiesofthedocumentsfiledwiththeSECbyGlaukoswillbeavailablefreeofchargewithintheInvestorRelationssectionofGlaukos'internetwebsiteathttps://investors.glaukos.comorbycontactingGlaukosInvestorRelationsbyemailatinvestors@glaukos.comorbyphoneat949-481-0510.CopiesofthedocumentsfiledwiththeSECbyAvedrowillbeavailablefreeofchargewithintheInvestorRelationssectionofAvedro'sinternetwebsiteathttps://investors.avedro.comorbycontactingAvedroInvestorRelationsbyemailatinvestors@avedro.comorbyphoneat646-924-1769.

Participants in the Solicitation

EachofAvedroandGlaukosandtheirrespectivedirectorsandexecutiveofficersmaybedeemedtobeparticipantsinthesolicitationofproxiesfromAvedrostockholdersinconnectionwiththeproposedtransaction.InformationaboutAvedro'sdirectorsandexecutiveofficersisincludedinAvedro'sAnnualReportonForm10-KfortheyearendedDecember31,2018,whichwasfiledwiththeSEConMarch21,2019,andisalsoincludedinAvedro'sFormS-1RegistrationStatementfiledwiththeSEConJanuary18,2019,asamendedbyAmendmentNo.1toAvedro'sFormS-1RegistrationStatementfiledwiththeSEConFebruary4,2019.InformationaboutGlaukos'directorsandexecutiveofficersisincludedinitsdefinitiveproxystatementforits2019annualmeetingofstockholders,whichwasfiledwiththeSEConApril17,2019.Otherinformationregardingtheparticipantsinthesolicitationofproxiesinconnectionwiththeproposedtransactionandadescriptionoftheirdirectandindirectinterests,bysecurityholdingsorotherwise,willbecontainedintheproxystatement/prospectusandotherrelevantmaterialstobefiledwiththeSECregardingtheproposedtransactionwhentheybecomeavailable.InvestorsmayobtainfreecopiesofthesedocumentsfromAvedroorGlaukosasindicatedabove.

No Offer or Solicitation

Thiscommunicationdoesnotconstituteanoffertosellorthesolicitationofanoffertobuyanysecuritiesnorasolicitationofanyvoteorapprovalwithrespecttotheproposedtransactionorotherwise.NoofferingofsecuritiesshallbemadeexceptbymeansofaprospectusmeetingtherequirementsofSection10oftheSecuritiesActof1933,asamended,andotherwiseinaccordancewithapplicablelaw.

##

5

Page 106: QuickLinks --Clickheretorapidlynavigatethroughthisdocumentd18rn0p25nwr6d.cloudfront.net/CIK-0001192448/db333... · Avedro, in order to enter into an agreement providing for a superior

QuickLinks

Exhibit99.1

GlaukosandAvedroAnnounceDefinitiveAcquisitionAgreement