Exhibit 10.1

FIFTH LOAN MODIFICATION AGREEMENT
This Fifth Loan Modification Agreement (this “Loan Modification Agreement”) is
entered into as of March 29, 2017, by and between SILICON VALLEY BANK, a
California corporation, with its principal place of business at 3003 Tasman
Drive, Santa Clara, California 95054 and with a loan production office located
at 8705 SW Nimbus, Suite 240, Beaverton, Oregon 97008 (“Bank”) and JIVE
SOFTWARE, INC., a Delaware corporation, with its principal place of business at
915 SW Stark Street, Suite 400, Portland, Oregon 97205 (“Borrower”).
1.DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS. Among other indebtedness
and obligations which may be owing by Borrower to Bank, Borrower is indebted to
Bank pursuant to a loan arrangement dated as of May 23, 2012, evidenced by,
among other documents, a certain Second Amended and Restated Loan and Security
Agreement dated as of May 23, 2012, between Borrower and Bank, as amended by a
certain First Loan Modification Agreement dated as of April 26, 2013, as amended
by a certain Second Loan Modification Agreement dated as of February 18, 2014,
and as further amended by a certain Third Loan Modification Agreement dated as
of March 31, 2015, and as further amended by a certain Fourth Amendment to Loan
and Security Agreement dated as of March 29, 2016 (as amended, the “Loan
Agreement”). Capitalized terms used but not otherwise defined herein shall have
the same meaning as in the Loan Agreement.
2.    DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by,
among other property, the Collateral (together with any other collateral
security granted to Bank, the “Security Documents”). Hereinafter, the Security
Documents, together with all other documents evidencing or securing the
Obligations shall be referred to as the “Existing Loan Documents”.
3.    DESCRIPTION OF CHANGE IN TERMS.
A.
Modifications to Loan Agreement.

1
The Loan Agreement shall be amended by deleting the following text, appearing in
Section 6.7(a) thereof:

“(D) ($25,000,000.00) for each of the twelve-month periods ending on the last
day of the fiscal quarters ending December 31, 2015, March 31, 2016, June 30,
2016, September 30, 2016 and December 31, 2016. With respect to any period
ending after December 31, 2016, the levels of Modified EBITDA shall be mutually
agreed upon by Bank and Borrower (which agreement, with respect to any such
levels for a given calendar year, shall be set forth in a written amendment to
this Agreement on or before March 31st of such calendar year) based upon, among
other factors and information that Bank reasonably requires, Borrower’s annual
operating budget, business plan and projections with respect to the applicable
period, and Borrower shall provide Bank with copies of such annual operating
budgets, business plans and projections when reasonably requested by Bank; and”
and inserting in lieu thereof the following:
“(D) (i) ($25,000,000.00) for each of the twelve-month periods ending on the
last day of the fiscal quarters ending December 31, 2015, March 31, 2016, June
30, 2016, September 30, 2016 and December 31, 2016 and (ii) ($10,000,000.00) for
the twelve (12) month periods ending on the last day of the fiscal quarter
ending March 31, 2017, and as of the last day of each fiscal quarter
thereafter.”
2
The Loan Agreement shall be amended by deleting the following definitions
appearing in Section 13.1 thereof:

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“    “LIBOR” means, for any Interest Rate Determination Date with respect to an
Interest Period for any Credit Extension to be made, continued as or converted
into a LIBOR Credit Extension, the rate of interest per annum determined by Bank
to be the per annum rate of interest at which deposits in Dollars are offered to
Bank in the London interbank market (rounded upward, if necessary, to the
nearest 1/10,000th of one percent (0.0001%)) in which Bank customarily
participates at 11:00 a.m. (local time in such interbank market) two (2)
Business Days prior to the first day of such Interest Period for a period
approximately equal to such Interest Period and in an amount approximately equal
to the amount of such Credit Extension.”
“    “Prime Rate” is, with respect to any day, the “Prime Rate” as quoted in the
Wall Street Journal print edition on such day (or, if such day is not a day on
which the Wall Street Journal is published, the immediately preceding day on
which the Wall Street Journal was published).”
“    “Unused Revolving Line Margin” is 0.35%, provided that at such times that
Borrower maintains an Adjusted Quick Ratio of greater than or equal to 2.75 to
1.00, the Unused Revolving Line Margin shall be 0.30%. Any change in the Unused
Revolving Line Margin due to a change in the Adjusted Quick Ratio shall take
effect on the first (1st) calendar day of the month following the Bank’s receipt
of Borrower’s financial statements for which the Adjusted Quick Ratio was
calculated.
and inserting in lieu thereof the following:
“    “LIBOR” means, for any Interest Rate Determination Date with respect to an
Interest Period for any Credit Extension to be made, continued as or converted
into a LIBOR Credit Extension, the rate of interest per annum determined by Bank
to be the per annum rate of interest at which deposits in Dollars are offered to
Bank in the London interbank market (rounded upward, if necessary, to the
nearest 1/10,000th of one percent (0.0001%)) in which Bank customarily
participates at 11:00 a.m. (local time in such interbank market) two (2)
Business Days prior to the first day of such Interest Period for a period
approximately equal to such Interest Period and in an amount approximately equal
to the amount of such Credit Extension; provided that, in the event such rate of
interest is less than zero, such rate shall be deemed to be zero for purposes of
this Agreement.”
“    “Prime Rate” is the rate of interest per annum from time to time published
in the money rates section of The Wall Street Journal or any successor
publication thereto as the “prime rate” then in effect; provided that, in the
event such rate of interest is less than zero, such rate shall be deemed to be
zero for purposes of this Agreement and provided further that if such rate of
interest, as set forth from time to time in the money rates section of The Wall
Street Journal, becomes unavailable for any reason as determined by Bank, the
“Prime Rate” shall mean the rate of interest per annum announced by Bank as its
prime rate in effect at its principal office in the State of California (such
Bank announced Prime Rate not being intended to be the lowest rate of interest
charged by Bank in connection with extensions of credit to debtors).
“    “Unused Revolving Line Margin” is 0.20%.”
3
Effective as of May 23, 2017, the Loan Agreement shall be amended by deleting
the following definition appearing in Section 13.1 thereof:

“    “Revolving Line Maturity Date” is May 23, 2017.”

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and inserting in lieu thereof the following:
“    “Revolving Line Maturity Date” is May 22, 2018.”
4
The Loan Agreement shall be amended by deleting the following text from the
definition of “Permitted Distributions” appearing in Section 13.1 thereof:

“    (a)    purchases of capital stock from former employees, consultants and
directors pursuant to repurchase agreements or other similar agreements in an
aggregate amount not to exceed Five Hundred Thousand Dollars ($500,000.00) in
any fiscal year, provided that at the time of any such purchase, and after
giving effect to any such purchase, no Event of Default has occurred and is
continuing;”
and inserting in lieu thereof the following:
“    (a)    purchases of capital stock from former employees, stockholders,
consultants and directors pursuant to repurchase agreements or other similar
agreements in an aggregate amount not to exceed Fifty Million Dollars
($50,000,000.00) in any twelve (12) month period, provided that at the time of
any such purchase, and after giving effect to any such purchase: (i) Borrower is
in compliance on a Pro Forma Basis with all covenants in this Agreement, (ii)
Borrower maintains at least Fifty Million Dollars ($50,000,000.00) in
unrestricted and unencumbered (except for the encumbrance in favor of Bank
consisting of the general security interest granted hereunder) cash with Bank
and Bank’s Affiliates and/or a third party so long as a Control Agreement
satisfactory to Bank has been executed and delivered with respect to any
non-Bank account containing such funds both before and after giving effect to
such purchase of capital stock, and (iii) no Event of Default has occurred and
is continuing;”
5
The Loan Agreement shall be amended by deleting the Compliance Certificate
attached as Exhibit D thereto and inserting in lieu thereof the Compliance
Certificate attached as Schedule 1 hereto.

4.    FEES AND EXPENSES. Borrower shall pay to Bank a fully-earned,
non-refundable Revolving Line commitment fee of Twenty Thousand Dollars
($20,000.00) on the date hereof. Borrower shall also reimburse Bank for all
documented reasonable legal fees and expenses incurred in connection with this
amendment to the Existing Loan Documents.
5.    UPDATED PERFECTION CERTIFICATE. Borrower has delivered an updated
Perfection Certificate in connection with this Loan Modification Agreement dated
as of the date hereof (the “Updated Perfection Certificate”), which Updated
Perfection Certificate shall supersede in all respects that certain Perfection
Certificate dated as of February 8. 2014. Borrower agrees that all references in
the Loan Agreement to “Perfection Certificate” shall hereinafter be deemed to be
a reference to the Updated Perfection Certificate.
6.    CONSISTENT CHANGES. The Existing Loan Documents are hereby amended
wherever necessary to reflect the changes described above.
7.    RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and
reaffirms all terms and conditions of all security or other collateral granted
to Bank, and confirms that the indebtedness secured thereby includes, without
limitation, the Obligations.
8.    NO DEFENSES OF BORROWER. Borrower hereby acknowledges and agrees that
Borrower has no offsets, defenses, claims, or counterclaims against Bank with
respect to the Obligations, or otherwise, and that if Borrower now

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has, or ever did have, any offsets, defenses, claims, or counterclaims against
Bank, whether known or unknown, at law or in equity, all of them are hereby
expressly WAIVED and Borrower hereby RELEASES Bank from any liability
thereunder.
9.    CONTINUING VALIDITY. Borrower understands and agrees that in modifying the
existing Obligations, Bank is relying upon Borrower’s representations,
warranties, and agreements, as set forth in the Existing Loan Documents. Except
as expressly modified pursuant to this Loan Modification Agreement, the terms of
the Existing Loan Documents remain unchanged and in full force and effect.
Bank’s agreement to modifications to the existing Obligations pursuant to this
Loan Modification Agreement in no way shall obligate Bank to make any future
modifications to the Obligations. Nothing in this Loan Modification Agreement
shall constitute a satisfaction of the Obligations. It is the intention of Bank
and Borrower to retain as liable parties all makers of Existing Loan Documents,
unless the party is expressly released by Bank in writing. No maker will be
released by virtue of this Loan Modification Agreement.
10.    COUNTERSIGNATURE. This Loan Modification Agreement shall become effective
only when it shall have been executed by Borrower and Bank.
[The remainder of this page is intentionally left blank]

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SCHEDULE 1
EXHIBIT D

COMPLIANCE CERTIFICATE

Date:                 
TO:    SILICON VALLEY BANK    
FROM: JIVE SOFTWARE, INC.
The undersigned authorized officer of JIVE SOFTWARE, INC. (“Borrower”) certifies
that under the terms and conditions of the Second Amended and Restated Loan and
Security Agreement between Borrower and Bank (the “Agreement”):
(1) Borrower is in complete compliance for the period ending _______________
with all required covenants except as noted below; (2) there are no Events of
Default except as noted below; (3) all representations and warranties in the
Agreement are true and correct in all material respects on this date except as
noted below; provided, however, that such materiality qualifier shall not be
applicable to any representations and warranties that already are qualified or
modified by materiality in the text thereof; and provided, further that those
representations and warranties expressly referring to a specific date shall be
true, accurate and complete in all material respects as of such date;
(4) Borrower, and each of its Subsidiaries, have timely filed all required tax
returns and reports, and Borrower has timely paid all foreign, federal, state
and local taxes, assessments, deposits and contributions owed by Borrower except
as otherwise permitted pursuant to the terms of Section 5.8 of the Agreement;
and (5) no Liens have been levied or claims made against Borrower or any of its
Subsidiaries relating to unpaid employee payroll or benefits of which Borrower
has not previously provided written notification to Bank.
Attached are the required documents supporting the certification. The
undersigned certifies that the attached financial statements are prepared in
accordance with GAAP consistently applied from one period to the next except as
explained in an accompanying letter or footnotes. The undersigned acknowledges
that no borrowings may be requested at any time or date of determination that
Borrower is not in compliance with any of the terms of the Agreement, and that
compliance is determined not just at the date this certificate is delivered.
Capitalized terms used but not otherwise defined herein shall have the meanings
given them in the Agreement.

Please indicate compliance status by circling Yes/No under “Complies” column.
 
Reporting Covenant
Required
Complies
 
 
 
Quarterly consolidating financial statements
Quarterly within 45 days
Yes No
Annual financial statement (CPA Audited)
FYE within 150 days
Yes No
10‑Q, 10‑K and 8-K
Within 5 days after filing with SEC
Yes No
Quarterly Compliance Certificate
Contemporaneously with delivery of
the 10-Q and 10-K
Yes No
Annual operating budgets and annual financial projections
FYE within 45 days
Yes No

Financial Covenant
Required
Actual
Complies
 
 
 
 
Maintain as of the last day of each applicable quarter:
 
 
 
Modified EBITDA (measured on a trailing 12 month basis)
As set forth in Section 6.7(a)
$_________
Yes No

Adjusted Quick Ratio

> 2.0 :1.0

___ : ___
Yes No

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Performance Pricing/Unused Revolving Line Margin
Required
Actual
Eligible?
 
 
 
 
Adjusted Quick Ratio (quarterly)
> 2.75:1.0
_____:1.0
Yes No

The following financial covenant analyses and information set forth in Schedule
1 attached hereto are true and accurate as of the date of this Certificate.

The following are the exceptions with respect to the certification above: (If no
exceptions exist, state “No exceptions to note.”)

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BORROWER:
JIVE SOFTWARE, INC.
By: _________________________________________
Name: ______________________________________
Title: _______________________________________

BANK USE ONLY

Received by: _____________________
AUTHORIZED SIGNER
Date: _________________________

Verified: ________________________
AUTHORIZED SIGNER
Date: _________________________

Compliance Status: Yes No

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Schedule 1 to Compliance Certificate

Financial Covenants of Borrower

In the event of a conflict between this Schedule and the Loan Agreement, the
terms of the Loan Agreement shall govern.

Dated:    ____________________

I.        Modified EBITDA (Section 6.7(a)) (tested quarterly)
Required:
Modified EBITDA of at least ($25,000,000.00) for each of the twelve-month
periods ending on the last day of the fiscal quarters ending December 31, 2015,
March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016 and (ii)
($10,000,000.00) for the twelve (12) month periods ending on the last day of the
fiscal quarter ending March 31, 2017, and as of the last day of each fiscal
quarter thereafter.

A.
Net Income

$—

B.
To the extent included in the determination of earnings for such period

$—

 
1. Interest Expense

$—

 
2. income tax expense

$—

 
3. depreciation expense

$—

 
4. amortization expense

$—

 
5. The sum of lines 1 through 4

$—

C.
Non-recurring expenses or charges that do not represent a cash item in such
period or any future period, including stock based compensation and any purchase
accounting adjustments

$—

D.
Impairment of goodwill, intangible and tangible assets previously approved by
Bank

$—

E.
Other adjustments approved by Bank on a case-by-case basis

$—

F.
Modified EBITDA (line A plus line B.5 plus line C plus line D plus line E)

$—

Is line F equal to or greater than the amount applicable above?
 
No, not in compliance
 
 
Yes, in compliance

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II.    Adjusted Quick Ratio (Section 6.7(b) (tested quarterly))

Required:
2.0 to 1.0

A.
Aggregate value of the unrestricted cash and Cash Equivalents of Borrower
maintained with Bank

$—

B.
Aggregate value of unrestricted and unencumbered cash or Cash Equivalents
deposited with or invested through a third party in investments with maturities
of fewer than twelve (12) months so long as a Control Agreement satisfactory to
Bank has been executed and delivered with respect to such deposits or
investments

$—

C.
Aggregate value of the net billed accounts receivable of Borrower

$—

D.
Quick Assets (the sum of lines A through C)

$—

E.
Aggregate value of Loan Obligations to Bank

$—

F.
Aggregate value of liabilities that should, under GAAP, be classified as
liabilities on Borrower’s consolidated balance sheet, including all
Indebtedness, and not otherwise reflected in line E above that matures within
one (1) year

$—

G.
Current Liabilities (the sum of lines E and F)

$—

H.
Current portion of Deferred Revenue

$—

I.
Line G minus line H

$—

J.
Adjusted Quick Ratio (line D divided by line I)

$—

Is line J equal to or greater than the amount applicable above?
 
No, not in compliance
 
 
Yes, in compliance

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This Loan Modification Agreement is executed as of the date first written
above.                            
BORROWER:
 
 BANK:
 
 
 
 
 
JIVE SOFTWARE, INC.
 
SILICON VALLEY BANK
 
 
 
 
 
 
 
By:
/s/ Bryan J. LeBlanc
 
By:
/s/ Soren Peterson
 
Name:
Bryan J. LeBlanc
 
Name:
Soren Peterson
 
Title:
Chief Financial Officer
 
Title:
Vice President