Exhibit 10.15



 Exhibit 10.15 
 LOAN AND SECURITY AGREEMENT 
 THIS LOAN AND SECURITY AGREEMENT (this
“Agreement”) dated as of the Effective Date between SILICON VALLEY BANK, a California corporation (“Bank”), and INTELLON CORPORATION, a Delaware corporation (“Borrower”), provides the terms
on which Bank shall lend to Borrower and Borrower shall repay Bank. The parties agree as follows: 
 1. ACCOUNTING AND OTHER TERMS

 Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made
following GAAP. Capitalized, terms not otherwise defined in this Agreement shall have the meanings set forth in Section 13. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to
the extent such terms are defined therein. 
 2. LOAN AND TERMS OF PAYMENT 
 2.1 Promise to Pay. Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit Extensions and accrued and
unpaid interest thereon as and when due in accordance with this Agreement 
 2.1.1 Revolving Advances. 
 (a) Availability. Subject to the terms and conditions of this Agreement, Bank shall make Advances not exceeding the Availability Amount. Amounts
borrowed under the Revolving Line may be repaid and, prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein. 
 (b) Termination: Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Advances, the
unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable. 
 2.1.2 Letters
of Credit Sublimit. 
 (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s account.
The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), together with amounts utilized by the Borrower under Sections 2.1.3 and 2.1.4 hereof, may not exceed
$2,000,000. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. If, on the Revolving Maturity Date, there are any outstanding Letters of Credit, then on such date
Borrower shall provide to Bank cash collateral in an amount equal to 100% of the face amount of all such Letters of Credit plus all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its good faith
business judgment), to secure all of the Obligations relating to said Letters of Credit. All Letters of Credit shall be in form and substance acceptable to Bank in its sole discretion and shall be subject to the terms and conditions of Bank’s
standard Application and Letter of Credit Agreement (the “Letter of Credit Application”). Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request. 
 (b) The obligation of Borrower to immediately reimburse Bank for drawings made under Letters of Credit shall be absolute, unconditional, and irrevocable,
and shall be performed strictly in accordance with the terms of this Agreement, such Letters of Credit, and the Letter of Credit Application. 
 (c) Borrower may request that Bank issue a Letter of Credit payable in a Foreign Currency. If a demand for payment is made under any such Letter of Credit, Bank shall treat such demand as an Advance to Borrower of the equivalent of the
amount thereof (plus fees and charges in connection therewith such as wire, cable, SWIFT or similar charges) in Dollars at the then-prevailing rate of exchange in San Francisco, California, for sales of the Foreign Currency for transfer to the
country issuing such Foreign Currency. 







 (d) To guard against fluctuations in currency exchange rates, upon the issuance of any Letter of Credit
payable in a Foreign Currency, Bank shall create a reserve (the “Letter of Credit Reserve”) under the Revolving Line in an amount equal to ten percent (10%) of the face amount of such Letter of Credit. The amount of the Letter
of Credit Reserve may be adjusted by Bank from time to time to account for fluctuations in the exchange rate. The availability of funds under the Revolving Line shall be reduced by the amount of such Letter of Credit Reserve for as long as such
Letter of Credit remains outstanding. 
 2.1.3 Foreign Exchange Sublimit. As part of the Revolving Line, Borrower may enter into
foreign exchange contracts with Bank under which Borrower commits to purchase from or sell to Bank a specific amount of Foreign Currency (each, a “FX Forward Contract”) on a specified date (the “Settlement Date”).
FX Forward Contracts shall have a Settlement Date of at least one (1) FX Business Day after the contract date and shall be subject to a reserve of ten percent (10%) of each outstanding FX Forward Contract in a maximum aggregate amount
equal to (x) $2,000,000, minus amounts utilized by Borrower under Sections 2.1.2 and 2.1.4 hereof (the “FX Reserve”). The aggregate amount of FX Forward Contracts at any one time may not exceed ten (10) times
the amount of the FX Reserve. The obligations of Borrower relating to this section may not exceed the Availability Amount. 
 2.1.4 Cash
Management Services Sublimit. Borrower may use up to an amount equal to (x) $2,000,000 minus (y) amounts utilized by Borrower under Sections 2.1.2 and 2.1.3 hereof (the “Cash Management Services Sublimit”)
of the Revolving Line for Bank’s cash management services which may include merchant services, direct deposit of payroll, business credit card, and check cashing services identified in Bank’s various cash management services agreements
(collectively, the “Cash Management Services”). Any amounts Bank pays on behalf of Borrower or any amounts that are not paid by Borrower for any Cash Management Services will be treated as Advances under the Revolving Line and will
accrue interest at the interest rate applicable to Advances. 
 2.1.5 Reducing Line of Credit. 
 (a) Availability. Subject to the terms and conditions of this Agreement, Bank shall make Reducing Facility Advances not exceeding the Reducing
Facility Availability Amount as in effect from time to time. Amounts borrowed under the Reducing Facility may be repaid and, prior to the Reducing Facility Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein.

 (b) Repayment. If, after any automatic reduction in the Reducing Facility Amount, the principal amount of Reducing Facility
Advances exceeds the Reducing Facility Amount, Borrower shall immediately repay to Bank in cash such excess. 
 (c) Termination:
Repayment. The Reducing Facility terminates on the Reducing Facility Maturity Date, when the principal amount of all Reducing Facility Advances, the unpaid interest thereon, and all other Obligations relating to the Reducing Facility shall be
immediately due and payable. 
 2.2 Overadvances. If, at any time, the Credit Extensions under Sections 2.1.1, 2.1.2, 2.1.3 and
2.1.4 exceed the lesser of either (a) the Revolving Line or (b) the Borrowing Base, Borrower shall immediately pay to Bank in cash such excess. 
 2.3 Payment of Interest on the Credit Extensions. 
 (a) Interest Rate. 
 (i) Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per
annum rate equal to .25 percentage points above the Prime Rate; provided that the principal amount outstanding under the Revolving Line shall accrue interest at a floating rate equal to .75 percentage points above the Prime Rate during any period
that Borrower’s Cash maintained with the Bank is less that the aggregate principal amount of all Advances and Reducing Facility Advances; provided further, that following a Qualified Public Offering, the principal amount outstanding for each
Advance may, at Borrower’s request, accrue interest at a floating 

  

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rate per annum equal to 2.50 percentage points above the LIBOR Rate, in accordance with and subject to the terms and provisions contained in, the LIBOR
Supplement. Interest on amounts outstanding under the Revolving Facility shall be payable monthly in accordance with Section 2.3(f) below. 
 (ii) Reducing Facility Advances. Subject to Section 2.3(b), the principal amount outstanding for each Reducing Facility Advance shall accrue interest at a floating per annum rate equal to .50 percentage points above the Prime
Rate; provided that the principal amount outstanding under the Reducing Facility shall accrue interest at a floating rate equal to 1.00 percentage point above the Prime Rate during any period that Borrower’s Cash maintained with the Bank is
less that the aggregate principal amount of all Advances and Reducing Facility Advances; provided further, that, following a Qualified Public Offering, the principal amount outstanding for each Reducing Facility Advance may, at Borrower’s
request, accrue interest at a floating rate per annum equal to 2.75 percentage points above the LIBOR Rate, in accordance with and subject to the terms and provisions contained in the LIBOR Supplement. Interest on the Reducing Facility Advances
shall be payable monthly in accordance with Section 2.3 (f) below. 
 (iii) Minimum Interest. In the event that the
aggregate amount of interest earned by Bank during any calendar quarter under this Agreement is less than the Minimum Quarterly Interest, Borrower shall pay to Bank additional interest equal to (i) the Minimum Quarterly Interest minus
(ii) the aggregate amount of all interest earned by Bank in such quarter. Such additional interest shall be payable on the first day of the next quarter. 
 (b) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear interest at a rate per annum which is three percentage points above the rate effective
immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a
waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Bank. 
 (c) Adjustment to Interest Rate.
Changes to the interest rate of any Credit Extension based on changes to the Prime Rate shall be effective on the effective date of any change to the Prime Rate and to the extent of any such change. 
 (d) 360-Day Year. Interest shall be computed on the basis of a 360-day year for the actual number of days elapsed. 
 (e) Debit of Accounts. Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and
interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off. 
 (f) Payments.
Unless otherwise provided, interest is payable monthly on the first calendar day of each month. Payments of principal and/or interest received after 12:00 p.m. Pacific time are considered received at the opening of business on the next Business Day.
When a payment is due on a day that is not a Business Day, the payment is due the next Business Day and additional fees or interest, as applicable, shall continue to accrue. 
 2.4 Fees. Borrower shall pay to Bank: 
 (a) Revolving Line Commitment Fee. A fully earned, non-refundable commitment fee equal to one quarter of one percent (0.25%) of the Revolving Line, on the Effective Date and on each anniversary of the Effective Date; 
 (b) Reducing Facility Commitment Fee. A fully earned, non-refundable commitment fee equal to one half of one percent (0.50%) of the weighted
average of Reducing Facility Amount determined for the following year, on the Effective Date and on each anniversary of the Effective Date; 
 (c) Letter of Credit Fee. Bank’s customary fees and expenses for the issuance or renewal of Letters of Credit, including, without limitation, a Letter of Credit Fee of one percent (1.00%) per annum of the face amount of
each Letter of Credit issued, upon the issuance, each anniversary of the issuance, and the renewal of such Letter of Credit; and 
  

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 (d) Bank Expenses. All Bank Expenses (including reasonable attorneys’ fees and expenses, plus
expenses, for documentation and negotiation of this Agreement) incurred through and after the Effective Date, when due. 
 3.
CONDITIONS OF LOANS 
 3.1 Conditions Precedent to Initial Credit Extension. Bank’s obligation to make the initial
Credit Extension is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate, including,
without limitation: 
 (a) Each of Borrower and Guarantor shall have delivered duly executed original signatures to the Loan Documents to
which it is a party; 
 (b) Borrower shall have delivered duly executed original signatures to the Control Agreements; 
 (c) Borrower shall have delivered its Operating Documents and a good standing certificate of Borrower certified by the Secretary of State of the States
of Delaware, California and Florida as of a date no earlier than thirty (30) days prior to the Effective Date; 
 (d) Borrower shall
have delivered duly executed original signatures to the completed Borrowing Resolutions for Borrower; 
 (e) Bank shall have received
certified copies, dated as of a recent date, of financing statement searches, as Bank shall request, accompanied by written evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either
constitute Permitted Liens or have been or, in connection with the initial Credit Extension, will be terminated or released; 
 (f) Borrower
shall have delivered the Perfection Certificate(s) executed by Borrower and Guarantor; 
 (g) Borrower shall have delivered a landlord’s
consent with respect to the Borrower’s leased property located in Ocala, Florida, executed by E&E investments in favor of Bank; 
 (h) Borrower shall have delivered evidence satisfactory to Bank that the insurance policies required by Section 6.5 hereof are in full force and effect, together with appropriate evidence showing loss payable and/or additional insured
clauses or endorsements in favor of Bank; and 
 (i) Borrower shall have paid the fees and Bank Expenses then due as specified in
Section 2.4 hereof. 
 3.2 Conditions Precedent to all Credit Extensions. Bank’s obligations to make each Credit Extension,
including the initial Credit Extension, is subject to the following: 
 (a) except as otherwise provided in Section 3.4(a), timely
receipt of an executed Payment/Advance Form; 
 (b) the representations and warranties in Section 5 shall be true in all material
respects on the date of the Payment/Advance Form and on the Funding Date of each Credit Extension; 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, and no Default or
Event of Default shall have occurred and be continuing or result from the Credit Extension. Each Credit Extension is Borrowers representation and warranty on that date that the representations and warranties in Section 5 remain true in all
material respects; 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; and 
  

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 (c) in Bank’s sole discretion, there has not been a Material Adverse Change. 
 3.3 Covenant to Deliver. 
 Borrower
agrees to deliver to Bank each item required to be delivered to Bank under this Agreement as a condition to any Credit Extension. Borrower expressly agrees that the extension of a Credit Extension prior to the receipt by Bank of any such item shall
not constitute a waiver by Bank of Borrower’s obligation to deliver such item, and any such extension in the absence of a required item shall be in Bank’s sole discretion. 
 3.4 Procedures for Borrowing. 
 (a)
Advances. Subject to the prior satisfaction of all other applicable conditions to the making of an Advance set forth in this Agreement, to obtain an Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail,
facsimile, or telephone by 12:00 p.m. Pacific time on the Funding Date of the Advance. Together with any such electronic or facsimile notification, Borrower shall deliver to Bank by electronic mail or facsimile a completed Payment/Advance Form
executed by a Responsible Officer or his or her designee. Bank may rely on any telephone notice given by a person whom Bank believes is a Responsible Officer or designee. Bank shall credit Advances to the Designated Deposit Account. Bank may make
Advances under this Agreement based on instructions from a Responsible Officer or his or her designee or without instructions if the Advances are necessary to meet Obligations which have become due. 
 (b) Reducing Facility Advances. Subject to the prior satisfaction of all other applicable conditions to the making of a Reducing Facility Advance
set forth in this Agreement, to obtain a Reducing Facility Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 12:00 p.m. Pacific time on the Funding Date of the Reducing Facility
Advance. Together with any such electronic or facsimile notification, Borrower shall deliver to Bank by electronic mail or facsimile a completed Payment/Advance Form executed by a Responsible Officer or his or her designee. Bank may rely on any
telephone notice given by a person whom Bank believes is a Responsible Officer or designee. Bank shall credit Reducing Facility Advances to the Designated Deposit Account. Bank may make Reducing Facility Advances under this Agreement based on
instructions from a Responsible Officer or his or her designee or without instructions if the Reducing Facility Advances are necessary to meet Obligations which have become due. 
 4. CREATION OF SECURITY INTEREST. 
 4.1 Grant of Security Interest. Borrower hereby grants Bank, to secure the payment and performance in full of all of the Obligations, a continuing security interest in, and pledges to Bank, the Collateral, wherever located, whether
now owned or hereafter acquired or arising, and all proceeds and products thereof. Borrower represents, warrants, and covenants that the security interest granted herein is and shall at all times continue to be a first priority perfected security
interest in the Collateral (subject only to Permitted Liens that may have superior priority to Bank’s Lien under this Agreement). If Borrower shall acquire a commercial tort claim involving an amount in controversy of at least $150,000,
Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to
be inform and substance reasonably satisfactory to Bank. 
 If this Agreement is terminated, Bank’s Lien in the Collateral shall
continue until the Obligations (other than inchoate indemnity obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations and at such time as Bank’s obligation to make Credit Extensions has terminated, Bank shall,
at Borrower’s sole cost and expense, release its Liens in the Collateral and all rights therein shall revert to Borrower. 
 4.2
Authorization to File Financing Statements. Borrower hereby authorizes Bank to file financing statements, without notice to Borrower, with all appropriate jurisdictions to perfect or protect Bank’s interest or rights hereunder,
including a notice that any disposition of the Collateral (other than in accordance with this Agreement), by either Borrower or any other Person, shall be deemed to violate the rights of Bank under the Code. 
  

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 5. REPRESENTATIONS AND WARRANTIES 
 Borrower represents and warrants as follows: 
 5.1 Due Organization and Authorization. Borrower and each of its Subsidiaries are duly existing and in good standing in their respective jurisdictions of formation and are qualified and licensed to do business and are in good
standing in any jurisdiction in which the conduct of their business or their ownership of property requires that they be qualified except where the failure to do so could not reasonably be expected to have a material adverse effect on
Borrower’s business. In connection with this Agreement, Borrower has delivered to Bank a completed certificate substantially in the form attached hereto as Exhibit ___ signed by Borrower, entitled “Perfection Certificate”.
Borrower represents and warrants to Bank that (a) the exact legal name of Borrower and each of its Subsidiaries is that indicated on the Perfection Certificate and on the signature page hereof; (b) each of Borrower and its Subsidiaries is
an organization of the type and is organized in the jurisdiction set forth in the Perfection Certificate; (c) the Perfection Certificate accurately sets forth Borrower’s and each Subsidiary’s organizational identification number or
accurately states that Borrower has none; (d) the Perfection Certificate accurately sets forth Borrower’s and each of its Subsidiary’s place of business, or, if more than one, its chief executive office as well as Borrower’s and
each Subsidiary’s mailing address (if different than its chief executive office); (e) except as set forth in the Perfection Certificate delivered to the Bank, none of Borrower or any of its Subsidiaries (or any of their respective
predecessors) has, in the past five (5) years, changed its jurisdiction of formation, organizational structure or type, or any organizational number assigned by its jurisdiction; and (f) all other information set forth on the Perfection
Certificate pertaining to Borrower and each of its Subsidiaries is accurate and complete. If Borrower is not now a Registered Organization but later becomes one, Borrower shall promptly notify Bank of such occurrence and provide Bank with
Borrower’s organizational identification number. 
 The execution, delivery and performance of the Loan Documents have been duly
authorized, and do not conflict with Borrower’s organizational documents, nor constitute an event of default under any material agreement by which Borrower is bound. Borrower is not in default under any agreement to which it is a party or by
which it is bound in which the default could have a material adverse effect on Borrower’s business. 
 5.2 Collateral.

 (a) Borrower has good title to, has rights in, and the power to transfer each item of the Collateral upon which it purports to grant a Lien
hereunder, free and dear of any and all Liens except Permitted Liens. Borrower has no deposit accounts other than the deposit accounts with Bank, the deposit accounts, if any, described in the Perfection Certificate delivered to Bank in connection
herewith, or of which Borrower has given Bank notice and taken such actions as are necessary to give Bank a perfected security interest therein. The Accounts are bona fide, existing obligations of the Account Debtors. 
 (b) The Collateral is not in the possession of any third party bailee (such as a warehouse) except as otherwise provided in the Perfection Certificate.
None of the components of the Collateral shall be maintained at locations other than as provided in the Perfection Certificate or as Borrower has given Bank notice pursuant to Section 7.2. In the event that Borrower, after the date hereof,
intends to store or otherwise deliver any portion of the Collateral to a bailee, then Borrower will first receive the written consent of Bank and such bailee must execute and deliver a bailee agreement in form and substance satisfactory to Bank in
its sole discretion. 
 (c) All inventory is in all material respects of good and marketable quality, free from material defects. 

5.3 Accounts Receivable and Purchase Orders. For any Eligible Domestic Account, Eligible Foreign Account and Purchase Order in any Borrowing
Base Certificate, all statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing such Eligible Domestic Accounts, Eligible Foreign Accounts and Purchase Orders are and shall be true and correct and
all such invoices, instruments and other documents, and all of Borrower’s Books are genuine and in all respects what they purport to be. All sales and other transactions underlying or giving rise to each 

  

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Eligible Domestic Account, Eligible Foreign Account and Purchase Order shall comply in all material respects with all applicable laws and governmental rules
and regulations. No Responsible Officer of Borrower has any Knowledge of any actual or imminent Insolvency Proceeding of any Account Debtor whose accounts are an Eligible Domestic Account or an Eligible Foreign Account or whose Purchase Orders are
Eligible Purchase Orders in any Borrowing Base Certificate. To the best of any Responsible Officer’s Knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Domestic Accounts, Eligible
Foreign Accounts and Purchase Orders are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms. 
 5.4 Litigation. There are no actions or proceedings pending or, to the Knowledge of the Responsible Officers, threatened in writing by or against Borrower or any of its Subsidiaries involving more than
$250,000. 
 5.5 No Material Deviation in Financial Statements. All consolidated financial statements for Borrower and any of its
Subsidiaries delivered to Bank fairly present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material deterioration in Borrower’s
consolidated financial condition since the date of the most recent financial statements submitted to Bank. 
 5.6 Solvency. The
fair salable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is able
to pay its debts (including trade debts) as they mature. 
 5.7 Regulatory Compliance. Borrower is not an “investment
company” or a company “controlled” by an “investment company” under the Investment Company Act. Borrower is not engaged as one of its important activities in extending credit for margin stock (under Regulations T and U
of the Federal Reserve Board of Governors). Borrower has complied in all material respects with the Federal Fair Labor Standards Act. Borrower has not violated any laws, ordinances or rules, the violation of which could reasonably be expected to
have a material adverse effect on its business. None of Borrower’s or any of its Subsidiaries’ properties or assets has been used by Borrower or any Subsidiary or, to the best of Borrower’s Knowledge, by previous Persons, in
disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and each of its Subsidiaries have obtained all consents, approvals and authorizations of, made all declarations or filings with, and given
all notices to, all government authorities that are necessary and material to continue its business as currently conducted. 
 5.8
Subsidiaries; Investments. Borrower does not own any stock, partnership interest or other equity securities except for Permitted Investments. 
 5.9 Tax Returns and Payments; Pension Contributions. Borrower has 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. Borrower may defer payment of any contested taxes, provided that Borrower (a) in good faith contests its obligation to pay the taxes by appropriate proceedings promptly and diligently instituted and conducted,
(b) notifies Bank in writing of the commencement of, and any material development in, the proceedings, (c) posts bonds or takes any other steps required to prevent the governmental authority levying such contested taxes from obtaining a
Lien upon any of the Collateral that is other than a “Permitted Lien”. The Responsible Officers are unaware of any claims or adjustments proposed for any of Borrower’s prior tax years which could result in additional taxes becoming
due and payable by Borrower. Borrower has paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and Borrower has not withdrawn from participation in, and has not
permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit
Guaranty Corporation or its successors or any other governmental agency. 
  

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 5.10 Use of Proceeds. Borrower shall use the proceeds of the Credit Extensions solely as working
capital, and to fund its general business requirements and not for personal, family, household or agricultural purposes. 
 5.11 Full
Disclosure. No written representation, warranty or other statement of Borrower in any certificate or written statement given to Bank, as of the date such representations, warranties, or other statements were made, taken together with all such
written certificates and written statements given to Bank, contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or statements not misleading (it being
recognized by Bank that the projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may
differ from the projected or forecasted results). 
 6. AFFIRMATIVE COVENANTS 
 Borrower shall do all of the following, during the term of this Agreement and/or for so long as any Obligations (other than inchoate indemnification
obligations intended to survive termination) remain outstanding: 
 6.1 Government Compliance. Maintain its and all its
Subsidiaries’ legal existence and good standing in their respective jurisdictions of formation and maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on
Borrower’s business or operations. Borrower shall comply, and have each Subsidiary comply, with all laws, ordinances and regulations to which it is subject, noncompliance with which would, or could reasonably be expected to, result in a
Material Adverse Change. 
 6.2 Financial Statements, Reports, Certificates. 
 (a) Deliver to Bank: (i) as soon as available, but no later than thirty (30) days after the last day of each month, a company prepared
consolidated and consolidating balance sheet and income statement covering Borrower’s and each of its Subsidiary’s operations during the period certified by a Responsible Officer and in a form acceptable to Bank; (ii) as soon as
available, but no later than one hundred fifty (150) days after the last day of Borrower’s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the
financial statements from Ernst & Young or another independent certified public accounting firm acceptable to Bank in its reasonable discretion; (iii) within five (5) days of delivery, copies of all statements, reports and notices
made available to Borrower’s security holders or to any holders of Subordinated Debt (iv) in the event that Borrower becomes subject to the reporting requirements under the Securities Exchange Act of 1934, as amended, within five
(5) days of filing, all reports on Form 1Q-K, 10-Q and 8-K filed with the Securities and Exchange Commission or a link thereto on Borrower’s or another website on the Internet; (iv) a prompt report of any legal actions pending or
threatened against Borrower or any of its Subsidiaries that could result in damages or costs to Borrower or any of its Subsidiaries of Two Hundred Fifty Thousand Dollars ($250,000) or more; and (v) budgets, sales projections, operating plans
and other financial information reasonably requested by Bank. 
 (b) Within thirty (30) days after the last day of each month, deliver
to Bank a duly completed Borrowing Base Certificate signed by a Responsible Officer, with (i) aged listings of accounts receivable and accounts payable (by invoice date) and (ii) purchase order reports for the Purchase Orders, or such
other Purchase Order reports as are requested by Bank in its reasonable business judgment. 
 (c) Within thirty (30) days after the last
day of each month, deliver to Bank with the monthly financial statements, a duly completed Compliance Certificate signed by a Responsible Officer setting forth calculations showing compliance with the financial covenants set forth in this Agreement.

 (d) Allow Bank to audit Borrower’s Collateral at Borrower’s expense. The first such audit will be conducted within 30 days of
closing, and thereafter such audits shall be conducted no more often than once every twelve (12) months unless a Default or an Event of Default has occurred and is continuing. 
  

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 6.3 Inventory; Returns. Keep all inventory in good and marketable condition, free from material
defects. Returns and allowances between Borrower and its Account Debtors shall follow Borrower’s customary practices as they exist at the Effective Date, absent Bank’s consent, not to be unreasonably withheld. Borrower must promptly notify
Bank of all returns, recoveries, disputes and claims that involve more than Two Hundred Fifty Thousand Dollars ($250,000). 
 6.4 Taxes;
Pensions. Make, and cause each of its Subsidiaries to make, timely payment of all foreign, federal, state, and local taxes or assessments (other than taxes and assessments which Borrower is contesting pursuant to the terms of Section 5.9
hereof) and shall deliver to Bank, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms. 

6.5 Insurance. Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrower’s industry and
location and as Bank may reasonably request. Insurance policies shall be in a form, with companies, and in amounts that are satisfactory to Bank. All property policies shall have a lender’s loss payable endorsement showing Bank as the sole
lender loss payee and waive subrogation against Bank, and all liability policies shall show, or have endorsements showing, Bank as an additional insured. All policies (or the loss payable and additional insured endorsements) shall provide that the
insurer must give Bank at least twenty (20) days notice before canceling, amending, or declining to renew its policy. At Bank’s request, Borrower shall deliver certified copies of policies and evidence of all premium payments. Proceeds
payable under any policy shall, at Bank’s option, be payable to Bank on account of the Obligations. Notwithstanding the foregoing, (a)(x) so long as no Event of Default has occurred and is continuing, Borrower shall have the option of
applying the proceeds of any casualty policy up to $500,000, in the aggregate, toward the replacement or repair of destroyed or damaged property; provided that any such replaced or repaired property (i) shall be of equal or like value as the
replaced or repaired Collateral and (ii) shall be deemed Collateral in which Bank has been granted a first priority security interest, and (b)(y) after the occurrence and during the continuance of an Event of Default, all proceeds payable
under such casualty policy shall, at the option of Bank, be payable to Bank on account of the Obligations. If Borrower fails to obtain insurance as required under this Section 6.5 or to pay any amount or furnish any required proof of payment to
third persons and Bank, Bank may make all or part of such payment or obtain such insurance policies required in this Section 6.5, and take any action under the policies Bank deems prudent. 
 6.6 Operating Accounts. 
 (a) Maintain
its and its Subsidiaries’ primary depository and operating accounts and securities accounts with Bank and Bank’s affiliates, which accounts shall represent at least 90% of the dollar value of Borrower’s and such Subsidiaries accounts
at all financial institutions on an average daily basis for each month. 
 (b) Provide Bank five (5) days prior written notice before
establishing any Collateral Account at or with any bank or financial institution other than Bank or its Affiliates. In addition, for each Collateral Account that Borrower at any time maintains, Borrower shall cause the applicable bank or financial
institution (other than Bank) at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Bank’s Lien in such Collateral
Account in accordance with the terms hereunder. The provisions of the previous sentence shall not apply to deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of
Borrower’s employees and identified to Bank by Borrower as such. 
 6.7 Financial Covenants. 
 Borrower shall maintain at all times, to be tested as of the last day of each month, on a consolidated basis with respect to Borrower and its
Subsidiaries: 
 (a) Adjusted Quick Ratio. A ratio of Quick Assets to Current Liabilities minus Deferred Revenue of at least 1.00 to
1.00. 
 (b) Tangible Net Worth. A Tangible Net Worth of at least $10,500,000, increasing on the first day of each quarter (commencing
on the first such date after the Effective Date) by an amount equal to 50% of positive quarterly Net Income and 75% of issuances of Equity after the Effective Date. 
  

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 6.8 Protection of Intellectual Property Rights. Borrower shall: (a) protect, defend and
maintain the validity and enforceability of its intellectual property; (b) promptly advise Bank in writing of material infringements of its intellectual property; and (c) not allow any intellectual property material to Borrower’s
business to be abandoned, forfeited or dedicated to the public without Bank’s written consent. 
 6.9 Litigation Cooperation.
From the date hereof and continuing through the termination of this Agreement, make available to Bank, without expense to Bank, Borrower and its officers, employees and agents and Borrower’s books and records, to the extent that Bank may deem
them reasonably necessary to prosecute or defend any third-party suit or proceeding instituted by or against Bank with respect to any Collateral or relating to Borrower; provided, however, that Bank shall use reasonable efforts to prevent such
litigation cooperation from materially disrupting or interfering with the operation of Borrower’s business. 
 6.10 Further
Assurances. Borrower shall execute any further instruments and take further action as Bank reasonably requests to perfect or continue Bank’s Lien in the Collateral or to effect the purposes of this Agreement. 
 7. NEGATIVE COVENANTS 
 Borrower shall not do any of the following without Bank’s prior written consent: 
 7.1 Dispositions. Convey, sell,
lease, transfer or otherwise dispose of (collectively, “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of inventory in the ordinary course of business;
(b) of worn-out or obsolete Equipment; (c) in connection with Permitted Liens and Permitted investments; and (d) of non-exclusive licenses for the use of the property of Borrower or its Subsidiaries in the ordinary course of business.

 7.2 Changes in Business, Management, Control, or Business Locations. (a) Engage in or permit any of its Subsidiaries to engage
in any business other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably related thereto; (b) liquidate or dissolve; or (c) (i) if the Key Person ceases to hold such office with
Borrower and replacements reasonably satisfactory to Bank are not made within ninety days after his departure from Borrower or (ii) prior to the later to occur of a Qualified Public Offering or a Stockholders Agreement Qualified Public
Offering, enter into any transaction or series of related transactions in which the stockholders of Borrower immediately prior to the first such transaction own less than 50% of the voting stock of Borrower immediately after giving effect to such
transaction or related series of such transactions (other than by the sale of Borrower’s equity securities in a public offering or to venture capital investors so long as Borrower identifies to Bank the venture capital investors prior to the
closing of the transaction), or (iii) following the later to occur of a Qualified Public Offering or a Stockholders Agreement Qualified Public Offering, permit or suffer any Change in Control. Borrower shall not, without at least thirty
(30) days prior written notice to Bank: (1) add any new offices or business locations, including warehouses (unless such new offices or business locations contain less than Two Hundred Fifty Thousand Dollars ($250,000) in Borrower’s
assets or property), (2) change its jurisdiction of organization, (3) change its organizational structure or type, (4) change its legal name, or (5) change any organizational number (if any) assigned by its jurisdiction of
organization. 
 7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with
any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower. 
 7.4 Indebtedness. Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness.

 7.5 Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income,
including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, permit any Collateral not to be subject to the first priority security 

  

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interest granted herein, or enter into any agreement, document, instrument or other arrangement (except with or in favor of Bank) with any Person which
directly or indirectly prohibits or has the effect of prohibiting Borrower or any Subsidiary from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s or any Subsidiary’s intellectual
property, except as is otherwise permitted in Section 7.1 hereof and the definition of “Permitted Lien” herein. 
 7.6
Maintenance of Collateral Accounts. Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof. 
 7.7
Distributions; Investments. (a) Directly or indirectly make any investment other than Permitted Investments, or permit any of its Subsidiaries to do so; or (b) pay any dividends or make any distribution or payment or redeem, retire or
purchase any capital stock; provided, however, that Borrower may exercise its right of first refusal as contemplated in Borrower’s Amended and Restated Stockholder’s Agreement, dated as of March 15, 2005, as amended from time to time,
so long as all of the following conditions are satisfied: (i) Borrower shall provide prior written notice thereof to the Bank; (ii) no Default or Event of Default then exists or would result therefrom; (iii) no Material Adverse Change
then exists or would result therefrom, and (iv) immediately after giving effect to any such repurchase, the Quick Ratio shall be greater than 1.50 to 1.00 (any such repurchase in accordance with all of the forgoing conditions being a
“Permitted Stock Repurchase”. 
 7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any
material transaction with any Affiliate of Borrower, except for transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s
length transaction with a non-affiliated Person; except that Borrower may engage in a Permitted Stock Repurchase. 
 7.9 Subordinated
Debt. (a) Make or permit any payment on any Subordinated Debt, except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any
document relating to the Subordinated Debt which would increase the amount thereof or adversely affect the subordination thereof to Obligations owed to Bank. 
 7.10 Compliance. Become an “investment company” or a company controlled by an “investment company”, under the Investment Company Act of 1940 or undertake as one of its important activities
extending credit to purchase or carry margin stock (as defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Credit Extension for that purpose; fail to meet the minimum funding requirements
of ERISA, permit a Reportable Event or Prohibited Transaction, as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if the violation could reasonably be expected to have a
material adverse effect on Borrower’s business, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial or complete termination of, or permit the occurrence of any other
event with respect to, any present pension, profit sharing and deferred compensation plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its
successors or any other governmental agency. 
 8. EVENTS OF DEFAULT 
 Any one of the following shall constitute an event of default (an “Event of Default”) under this Agreement: 
 8.1 Payment Default. Borrower falls to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay
any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure
period); 
 8.2 Covenant Default 
 (a) Borrower fails or neglects to perform any obligation in Sections 6.2, 6.5, 6.6, 6.7 or violates any covenant in Section 7; or 
  

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 (b) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition,
covenant or agreement contained in this Agreement, any Loan Documents, and as to any default (other than those specified in Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the
default within ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten
(10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such
reasonable time period the failure to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Grace periods provided under this section shall not apply, among other things, to
financial covenants or any other covenants set forth in subsection (a) above; 
 8.3 Material Adverse Change. A Material Adverse
Change occurs; 
 8.4 Attachment. (a) Any material portion of Borrower’s assets is attached, seized, levied on, or comes
into possession of a trustee or receiver and the attachment, seizure or levy is not removed in ten (10) days; (b) the service of process upon Borrower seeking to attach, by trustee or similar process, any funds of Borrower on deposit with
Bank, or any entity under control of Bank (including a subsidiary); (c) Borrower is enjoined, restrained, or prevented by court order from conducting a material part of its business; (d) a judgment or other claim in excess of $250,000
becomes a Lien on any of Borrower’s assets; or (e) a notice of lien, levy, or assessment is filed against any of Borrower’s assets by any government agency and not paid within ten (10) days after Borrower receives notice. These
are not Events of Default if stayed or if a bond is posted pending contest by Borrower (but no Credit Extensions shall be made during the cure period); 
 8.5 Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an
Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any insolvency Proceeding
is dismissed); 
 8.6 Other Agreements. There is a default in any agreement to which Borrower or any Guarantor is a party with a third
party or parties resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of One Million Five Hundred Thousand Dollars ($1,500,000) (or such lesser amount as
would result in an “Event of Default” under the covenants set forth in Section 6.7 hereof, assuming that the amount of Indebtedness then accelerated or subject to acceleration was immediately paid by Borrower to the party entitled
thereto) or that would, or could reasonably be expected to, result in a Material Adverse Change with respect to Borrower or any Guarantor; 
 8.7 Judgments. A judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least Two Hundred Fifty Thousand Dollars ($250,000) (not covered by independent third-party insurance) shall be
rendered against Borrower and shall remain unsatisfied and unstayed for a period of ten (10) days after the entry thereof (provided that no Credit Extensions will be made prior to the satisfaction or stay of such judgment); 
 8.8 Misrepresentations. Borrower or any Person acting for Borrower makes any representation, warranty, or other statement now or later in this
Agreement, any Loan Document or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made; 
 8.9 Subordinated Debt. A default or breach occurs under any agreement between Borrower and any creditor of Borrower that signed a subordination,
intercreditor, or other similar agreement with Bank, or any creditor that has signed such an agreement with Bank breaches any terms of such agreement; or 
 8.10 Guaranty. (a) Any guaranty of any Obligations terminates or ceases for any reason to be in full force and effect; (b) any Guarantor does not perform any obligation or covenant under any guaranty
of the Obligations; (c) any circumstance described in Sections 8.3, 8.4, 8.5, 8.7 or 8.8 occurs with respect to any Guarantor, (d) the liquidation, winding up, or termination of existence of any Guarantor; or (e) (i) a
material impairment in the perfection or priority of Bank’s Lien in the collateral provided by Guarantor or in the value of such collateral or (ii) a Material Adverse Change occurs with respect to any Guarantor. 
  

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 9. BANK’S RIGHTS AND REMEDIES 
 9.1 Rights and Remedies. While an Event of Default occurs and continues Bank may, without notice or demand, do any or all of the following:

 (a) declare all Obligations immediately due and payable (but if an Event of Default described in Section 8.5 occurs all Obligations
are immediately due and payable without any action by Bank); 
 (b) stop advancing money or extending credit for Borrower’s benefit
under this Agreement or under any other agreement between Borrower and Bank; 
 (c) demand that Borrower (i) deposits cash with Bank in
an amount equal to the aggregate amount of any Letters of Credit remaining undrawn, as collateral security for the repayment of any future drawings under such Letters of Credit, and Borrower shall forthwith deposit and pay such amounts, and
(ii) pay in advance all Letter of Credit fees scheduled to be paid or payable over the remaining term of any Letters of Credit; 
 (d)
terminate any FX Contracts; 
 (e) settle or adjust disputes and claims directly with Account Debtors for amounts on terms and in any order
that Bank considers advisable, notify any Person owing Borrower money of Bank’s security interest in such funds, and verify the amount of such account; 
 (f) make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in the Collateral. Borrower shall assemble the Collateral if Bank requests and make it
available as Bank designates. Bank may enter premises where the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its
security interest and pay all expenses incurred. Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank’s rights or remedies; 
 (g) apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by Bank owing to or for the credit or
the account of Borrower; 
 (h) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the
Collateral. Bank is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, patents, copyrights, mask works, rights of use of any name, trade secrets, trade names, trademarks, service
marks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise of its rights under this Section,
Borrower’s rights under all licenses and all franchise agreements inure to Bank’s benefit; 
 (i) place a “hold” on any
account maintained with Bank and/or deliver a notice of exclusive control, any entitlement order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 
 (j) demand and receive possession of Borrower’s Books; and 
 (k) exercise all rights and remedies available to Bank under the Loan Documents or at law or equity, including all remedies provided under the Code (including disposal of the Collateral pursuant to the terms thereof).

  

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 9.2 Power of Attorney. Borrower hereby irrevocably appoints Bank as its lawful attorney-in-fact,
exercisable upon the occurrence and during the continuance of an Event of Default, to; (a) endorse Borrower’s name on any checks or other forms of payment or security; (b) sign Borrower’s name on any invoice or bill of lading for
any Account or drafts against Account Debtors; (c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Bank determines reasonable; (d) make, settle, and adjust all claims under
Borrower’s insurance policies; (e) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge
the same; and (f) transfer the Collateral into the name of Bank or a third party as the Code permits. Borrower hereby appoints Bank as its lawful attorney-in-fact to sign Borrower’s name on any documents necessary to perfect or continue
the perfection of any security interest regardless of whether an Event of Default has occurred until all Obligations have been satisfied in full and Bank is under no further obligation to make Credit Extensions hereunder. Bank’s foregoing
appointment as Borrower’s attorney in fact, and all of Bank’s rights and powers, coupled with an interest, are irrevocable until all Obligations have been fully repaid and performed and Bank’s obligation to provide Credit Extensions
terminates. 
 9.3 Accounts Verification; Collection. Whether or not an Event of Default has occurred and is continuing, Bank may
notify any Person party to any Purchase Order or owing Borrower money of Bank’s security interest in such funds and verify the amount of such Purchase Order or account. After the occurrence of an Event of Default, any amounts received by
Borrower shall be held in trust by Borrower for Bank, and, if requested by Bank, Borrower shall immediately deliver such receipts to Bank in the form received from the Account Debtor, with proper endorsements for deposit. Bank may, in its good faith
business judgment, require that all proceeds of Accounts be deposited by Borrower into a lockbox account, or such other “blocked account”, as Bank may specify, pursuant to a blocked account agreement in such form as Bank may specify in its
good faith business judgment. 
 9.4 Protective Payments. If Borrower fails to obtain the insurance called for by Section 6.5 or
fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank
Expenses and immediately due and payable, bearing interest at the then highest applicable rate, and secured by the Collateral. Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is
obtained or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or Bank’s waiver of any Event of Default. 
 9.5 Application of Payments and Proceeds. Unless an Event of Default has occurred and is continuing, Bank shall apply any funds in its possession,
whether from Borrower account balances, payments, or proceeds realized as the result of any collection of Accounts or Purchase Orders or other disposition of the Collateral, first, to Bank Expenses, including without limitation, the reasonable
costs, expenses, liabilities, obligations and attorneys’ fees incurred by Bank in the exercise of its rights under this Agreement; second, to the interest due upon any of the Obligations; and third, to the principal of the Obligations and any
applicable fees and other charges, in such order as Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If an Event of
Default has occurred and is continuing, Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or Purchase Orders or other disposition of the
Collateral, or otherwise, to the Obligations in such order as Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If
Bank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Bank shall have the option, exercisable at any time, of either reducing the
Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Bank of cash therefor. 
 9.6 Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be
liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or
other Person. Borrower bears all risk of loss, damage or destruction of the Collateral, so long as Bank complies with the above referenced standard. 
  

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 9.7 No Waiver; Remedies Cumulative. Bank’s failure, at any time or times, to require strict
performance by Borrower of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Bank thereafter to demand strict performance and compliance herewith or therewith. No waiver hereunder shall be
effective unless signed by Bank and then is only effective for the specific instance and purpose for which it is given. Bank’s rights and remedies under this Agreement and the other Loan Documents are cumulative. Bank has all rights and
remedies provided under the Code, by law, or in equity. Bank’s exercise of one right or remedy is not an election, and Bank’s waiver of any Event of Default is not a continuing waiver. Bank’s delay in exercising any remedy is not a
waiver, election, or acquiescence. 
 9.8 Demand Waiver. Borrower waives demand, notice of default or dishonor, notice of payment and
nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Bank on which Borrower is liable. 
 10. NOTICES 
 All notices,
consents, requests, approvals, demands, or other communication (collectively, “Communication”) by any party to this Agreement or any other Loan Document must be in writing and shall be deemed to have been validly served, given, or
delivered: (a) upon the earlier of actual receipt and five (5) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission, when
sent by electronic mail or facsimile transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of which shall be
addressed to the party to be notified and sent to the address, facsimile number, or email address indicated below. Bank or Borrower may change its address or facsimile number by giving the other party written notice thereof in accordance with the
terms of this Section 10. 
  

			
	If to Borrower:	  	Intellon Corporation
		  	[Address]
	
	With a copy (which shall not constitute notice, and the failure of which to provide will not invalidate any notice to Borrower)
		
		  	Nixon Peabody LLP
		  	 [Address]

		
	If to Bank:	  	Silicon Valley Bank
		  	 [Address]


 11. CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER 
 (a) Choice Of Law. Georgia law governs the Loan Documents without regard to principles of conflicts of law. Borrower and Bank each submit to the
exclusive jurisdiction of the State and Federal courts in Fulton County, Georgia or Santa Clara County, California; provided, however, that 

  

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nothing in this Agreement shall be deemed to operate to preclude Bank from bringing suit or taking other legal action in any other jurisdiction to realize on
the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Bank. Borrower expressly submits and consents in advance to such jurisdiction in any action or suit commenced in any such court, and
Borrower hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is deemed appropriate by such court.
Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by registered or certified mail addressed to
Borrower at the address set forth in Section 10 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of Borrower’s actual receipt thereof or five (5) days after deposit in the U.S. mails,
proper postage prepaid. 
 (b) WAIVER OF TRIAL BY JURY. BORROWER AND BANK EACH WAIVE ITS RIGHT TO A JURY TRIAL OF ANY CLAIM OR
CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS
AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
 12. GENERAL PROVISIONS 
 12.1 Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party. Borrower may not
assign this Agreement or any rights or obligations under it without Bank’s prior written consent (which may be granted or withheld in Bank’s discretion). Bank has the right, without the consent of or notice to Borrower, to sell, transfer,
negotiate, or grant participation in all or any part of, or any interest in, Bank’s obligations, rights, and benefits under this Agreement and the other Loan Documents. 
 12.2 Indemnification. Borrower agrees to indemnify, defend and hold Bank and its directors, officers, employees, agents, attorneys, or any other
Person affiliated with or representing Bank harmless against: (a) all obligations, demands, claims, and liabilities (collectively, “Claims”) asserted by any other party in connection with the transactions contemplated by the Loan
Documents; and (b) all losses or Bank Expenses incurred, or paid by Bank from, following, or arising from transactions between Bank and Borrower (including reasonable attorneys’ fees and expenses), except for Claims and/or losses directly
caused by Bank’s gross negligence or willful misconduct. 
 12.3 Limitation of Actions. Any claim or cause of action by Borrower
against Bank, its directors, officers, employees, agents, accountants, attorneys, or any other Person affiliated with or representing Bank based upon, arising from, or relating to this Loan Agreement or any other Loan Document, or any other
transaction contemplated hereby or thereby or relating hereto or thereto, or any other matter, cause or thing whatsoever, occurred, done, omitted or suffered to be done by Bank, its directors, officers, employees, agents, accountants or attorneys,
shall be barred unless asserted by Borrower by the commencement of an action or proceeding in a court of competent jurisdiction by the filing of a complaint within one year after the first act, occurrence or omission upon which such claim or cause
of action, or any part thereof, is based (or, solely in the case of any such action or proceeding alleging fraud on the part of Bank, its directors, officers, employees, agents, accountants, attorneys or other affiliated Person, within one year
after the time Borrower discovered such alleged fraud, or could have with reasonable diligence discovered such alleged fraud), and the service of a summons and complaint on an officer of Bank, or on any other person authorized to accept service on
behalf of Bank, within thirty (30) days thereafter. Borrower agrees that such one-year period is a reasonable and sufficient time for Borrower to investigate and act upon any such claim or cause of action. The one-year period provided herein
shall not be waived, tolled, or extended except by the written consent of Bank in its sole discretion. This provision shall survive any termination of this Loan Agreement or any other Loan Document. 
 12.4 Time of Essence. Time is of the essence for the performance of all Obligations in this Agreement. 
  

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 12.5 Severability of Provisions. Each provision of this Agreement is severable from every other
provision in determining the enforceability of any provision. 
 12.6 Amendments in Writing; Integration. All amendments to this
Agreement must be in writing signed by both Bank and Borrower. This Agreement and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings,
representations, warranties, and negotiations between the parties about the subject matter of this Agreement and the Loan Documents merge into this Agreement and the Loan Documents. 
 12.7 Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which,
when executed and delivered, are an original, and all taken together, constitute one Agreement. 
 12.8 Survival. All covenants,
representations and warranties made in this Agreement continue in full force until this Agreement has terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other obligations which, by their terms,
are to survive the termination of this Agreement) have been satisfied. The obligation of Borrower in Section 12.2 to indemnify Bank shall survive until the statute of limitations with respect to such claim or cause of action shall have run.

 12.9 Confidentiality. All information of the Borrower or its Subsidiaries received by Bank from Borrower or any of its Subsidiaries
and designated in writing as confidential information (“Confidential Information”) will be held in confidence by Bank to the same extent and under the same conditions as Bank treats its own proprietary and confidential information
and will not be distributed or disclosed by Bank to any third party or used by Bank for any purpose after the date of disclosure of such Confidential Information other than in connection with Bank’s commercial relationship with the Borrower and
its Subsidiaries pursuant to this Agreement (such use, “Permitted Use”); provided however; that Bank may disclose Confidential Information or portions thereof to its directors, officers, employees, representatives or advisors
in connection with any Permitted Use, so long as Bank advises such persons of the confidential nature thereof; provided, further, that “Confidential Information” for purposes of this Agreement does not include information that
(i) is either in Bank’s possession or publicly available to Bank prior to the disclosure of such information by Borrower or any Subsidiary; (ii) subsequent to its disclosure, becomes publicly available to Bank without the violation of
this Agreement by Bank; (iii) becomes available to Bank on a non-confidential basis from any third party; (iv) is independently acquired or developed by Bank; (v) is believed by Bank to be required to be disclosed by Bank pursuant to
law or by order of a court, pursuant to the requirements of a stock exchange or other governmental or regulatory bode, for enforcement of this Agreement or to obtain tax or other clearances or consent from any relevant authority; or (vi) is
explicitly approved for release by Borrower. 
 12.10 Attorneys’ Fees, Costs and Expenses. In any action or proceeding between
Borrower and Bank arising out of or relating to the Loan Documents, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in addition to any other relief to which it may be
entitled. 
 13. DEFINITIONS 
 13.1 Definitions. As used in this Agreement, the following terms have the following meanings: 
 “Account” is any “account” as defined in the Code with such additions to such term as may hereafter be made, and includes, without limitation, all accounts receivable and other sums owing to Borrower. 

“Account Debtor” is any “account debtor” as defined in the Code with such additions to such term as may hereafter be made.

 “Advance” or “Advances” means an advance (or advances) under the Revolving Line. 
 “Affiliate” of any Person is a Person that owns or controls directly or indirectly the Person, any Person that controls or is controlled
by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company, that Person’s managers and members. 
  

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 “Agreement” is defined in the preamble hereof. 
 “Availability Amount” is (a) the lesser of (i) the Revolving Line or (ii) the Borrowing Base minus (b) the amount of
all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) plus an amount equal to the Letter of Credit Reserves, minus (c) the FX Reserve, and minus (d) the outstanding principal balance of any Advances
(including any amounts used for Cash Management Services); provided, however, that following a Qualified Public Offering, and so long as Borrower maintains ah Adjusted Quick Ratio of 2.0 to 1.0 or greater, the “Availability Amount shall be
determined solely be reference to the Revolving Line, without regard to the Borrowing Base, and otherwise as set forth herein. 
 “Bank” is defined in the preamble hereof. 
 “Bank Expenses” are all audit fees and expenses,
costs, and expenses (including reasonable attorneys’ fees and expenses) for preparing, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or
Insolvency Proceedings) or otherwise incurred with respect to Borrower. 
 “Borrower” is defined in the preamble hereof.

 “Borrower’s Books” are all Borrower’s books and records including ledgers, federal and state tax returns,
records regarding Borrower’s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. 
 “Borrowing Base” is (a) 80% of Eligible Accounts plus (b) the lesser of 50% of the value of Eligible Purchase Orders or
$2,000,000, as determined by Bank from Borrower’s most recent Borrowing Base Certificate; provided, however, that Bank may decrease the foregoing percentages in its good faith business judgment based on events, conditions, contingencies, or
risks which, as determined by Bank, may adversely affect Collateral; provided, further, that Borrower may only request Advances in respect of Eligible Purchase Orders so long as Borrower’s Adjusted Quick Ratio is greater than 1.25:1.00.

 “Borrowing Base Certificate” is that certain certificate in the form attached hereto as Exhibit C.

 “Borrowing Resolutions” are, with respect to any Person, those resolutions adopted by such Person’s Board of
Directors and delivered by such Person to Bank approving the Loan Documents to which such Person is a party and the transactions contemplated thereby, together with a certificate executed by its secretary on behalf of such Person certifying that
(a) such Person has the authority to execute, deliver, and perform its obligations under each of the Loan Documents to which it is a party, (b) that attached as Exhibit A to such certificate is a true, correct, and complete copy of
the resolutions then in full force and effect authorizing and ratifying the execution, delivery, and performance by such Person of the Loan Documents to which it is a party, (c) the name(s) of the Person(s) authorized to execute the Loan
Documents on behalf of such Person, together with a sample of the true signature(s) of such Person(s), and (d) that Bank may conclusively rely on such certificate unless and until such Person shall have delivered to Bank a further certificate
canceling or amending such prior certificate. 
 “Business Day” is any day that is not a Saturday, Sunday or a day on which
Bank is closed. 
 “Cash Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by
the United States or any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its creation and having the highest
rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc., (c) Bank’s certificates of deposit issued maturing no more than one (1) year after issue; and (d) money market funds at
least ninety-five percent (95%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition. 
 “Cash Management Services” is defined in Section 2.1.4. 
 “Cash Management
Services Sublimit” is defined in Section 2.1.4. 
 “Change in Control” means any event, transaction, or
occurrence as a result of which (a) any “person” (as such term is defined in Sections 3(a)(9) and 13(d)(3) of the Securities Exchange Act of 1934, as an amended (the “Exchange Act”)), other than a trustee or
other fiduciary holding securities under an employee benefit plan of Borrower, is or becomes a beneficial owner (within the meaning Rule 13d-3 

  

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promulgated under the Exchange Act), directly or indirectly, of securities of Borrower, representing twenty-five percent (25%) or more of the combined
voting power of Borrower’s then outstanding securities; or (b) during any period of twelve consecutive calendar months, individuals who at the beginning of such period constituted the Board of Directors of Borrower (together with any new
directors whose election by the Board of Directors of Borrower was approved by a vote of at least two-thirds of the directors then still in office who either were directions at the beginning of such period or whose election or nomination for
election was previously so approved) cease for any reason other than death or disability to constitute a majority of the directors then in office. 
 “Code” is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the State of Georgia; provided, that, to the extent that the Code is used to define any term herein or in any Loan
Document and such term is defined differently in different Articles or Divisions of the Code, the definition of such term contained in Article or Division 9 shall govern; provided further, that in the event that, by reason of mandatory
provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to, Bank’s Lien on any Collateral is governed by the Uniform Commercial Code in effect in a Jurisdiction other than the State of Georgia, the
term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes on the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of
definitions relating to such provisions. 
 “Collateral” is any and all properties, rights and assets of Borrower described
on Exhibit A. 
 “Collateral Account” is any Deposit Account, Securities Account, or Commodity Account.

 “Committed Availability” means, as the date of determination, an amount equal to the sum of the Revolving Line plus the
Reducing Revolving Line minus all outstanding Credit Extensions. 
 “Commodity Account” is any “commodity account”
as defined in the Code with such additions to such term as may hereafter be made. 
 “Communication” is defined in
Section 10. 
 “Compliance Certificate” is that certain certificate in the form attached hereto as
Exhibit E. 
 “Contingent Obligation” is, for any Person, any direct or indirect liability, contingent or not,
of that Person for (a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse by that Person, or for which
that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity swap agreement, interest rate cap or
collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent Obligation” does not include endorsements in the
ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinate, the maximum reasonably anticipated liability for it
determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement. 
 “Control Agreement” is any control agreement entered into among the depository institution at which Borrower maintains a Deposit Account or the securities intermediary or commodity intermediary at
which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Bank pursuant to which Bank obtains control (within the meaning of the Code) over such Deposit Account, Securities Account, or Commodity Account. 
 “Credit Extension” is any Advance, Reducing Facility Advance, Letter of Credit, FX Forward Contract, amount utilized for Cash Management
Services, or any other extension of credit by Bank for Borrower’s benefit. 
 “Current Liabilities” are all obligations
and liabilities of Borrower to Bank, plus, without duplication, the aggregate amount of Borrower’s Total Liabilities that mature within one (1) year. 
 “Default” means any event which with notice or passage of time or both, would constitute an Event of Default. 
 “Default Rate” is defined in Section 2.3(b). 
  

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 “Deferred Revenue” is all amounts received or invoiced in advance of performance under
contracts and not yet recognized as revenue. 
 “Deposit Account” is any “deposit account” as defined in the Code
with such additions to such term as may hereafter be made. 
 “Designated Deposit Account” is Borrower’s deposit
account, account number                     , maintained with Bank. 
 “Dollars,” “dollars” and “$” each mean lawful money of the United States. 
 “Domestic Subsidiary” means a Subsidiary organized under the laws of the United States or any state or territory thereof or the District
of Columbia. 
 “Effective Date” is the date Bank executes this Agreement and as indicated on the signature page hereof.

 “Eligible Accounts” are Accounts which arise in the ordinary course of Borrower’s business that meet all
Borrower’s representations and warranties in Section 5.3. Bank reserves the right at any time and from time to time after the Effective Date, to adjust any of the criteria set forth below and to establish new criteria in its good faith
business judgment. Unless Bank agrees otherwise in writing, Eligible Accounts shall not include: 
 (a) Accounts that the Account Debtor has
not paid within ninety (90) days of invoice date; 
 (b) Accounts owing from an Account Debtor, fifty percent (50%) or more of
whose Accounts have not been paid within ninety (90) days of invoice date; 
 (c) Credit balances over ninety (90) days from
invoice date; 
 (d) Accounts owing from an Account Debtor, including Affiliates, whose total obligations to Borrower exceed twenty-five
(25%) of all Accounts, except for Lumax International and Universal Electronic, for which such percentage is thirty five percent (35%) for the amounts that exceed that percentage, unless Bank approves in writing; 
 (e) Accounts owing from an Account Debtor which does not have its principal place of business in the United States except for Eligible Foreign Accounts;

 (f) Accounts owing from an Account Debtor which is a federal, state or local government entity or any department, agency, or
instrumentality thereof except for Accounts of the United States if Borrower has assigned its payment rights to Bank and the assignment has been acknowledged under the Federal Assignment of Claims Act of 1940, as amended; 
 (g) Accounts owing from an Account Debtor to the extent that Borrower is indebted or obligated in any manner to the Account Debtor (as creditor, lessor,
supplier or otherwise - sometimes called “contra” accounts, accounts payable, customer deposits or credit accounts), with the exception of customary credits, adjustments and/or discounts given to an Account Debtor by Borrower in the
ordinary course of its business; 
 (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, or sold on a
“sale guaranteed”, “sale or return”, “sale on approval”, “bill and hold”, or other terms if Account Debtor’s payment may be conditional; 
 (i) Accounts for which the Account Debtor is Borrower’s Affiliate, officer, employee, or agent; 
 (j) Accounts in which the Account Debtor disputes liability or makes any claim (but only up to the disputed or claimed amount), or if the Account Debtor
is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; 
 (k) Accounts owing from an Account Debtor with
respect to which Borrower has received deferred revenue (but only to the extent of such deferred revenue); 
  

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 (l) Accounts for which Bank in its good faith business Judgment determines collection to be doubtful; and

 (m) other Accounts Bank deems ineligible in the exercise of its good faith business judgment. 
 “Eligible Foreign Accounts” are Accounts for which the Account Debtor does not have its principal place of business in the United States
but are otherwise Eligible Accounts that are (a) covered by credit insurance satisfactory to Bank, less any deductible; (b) supported by letter(s) of credit acceptable to Bank; (c) denominated in U.S. Dollars and billed and collected
in the United States; or (d) that Bank approves in writing. 
 “Eligible Purchase Orders” are signed and accepted
Purchase Orders received in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties in Section 5.3, and will result in the creation of an Eligible Account due and owing from Account Debtors
deemed creditworthy by Bank in its good faith business judgment. Without limiting the fact that the determination of which Purchase Orders are eligible hereunder is a matter of good faith business judgment of the Bank in each instance, Eligible
Purchase Order shall not include the following Purchase Orders (which listing may be amended or changed in Bank’s good faith business judgment): 
 (a) Purchase Orders not due for shipment and invoicing within ninety (90) days; 
 (b) Purchase Orders
that that are cancelable; 
 (c) Purchase Orders which, when shipped and invoiced, would not be an Eligible Account; 
 (d) Purchase Orders for which Borrower owes the Account Debtor, but only up to the amount owed (sometimes called “contra” accounts, accounts
payable, customer deposits or credit accounts); 
 (e) Purchase Orders which Bank deems ineligible for any reason in its good faith business
judgment. 
 “Equipment” is all “equipment” as defined in the Code with such additions to such term as may
hereafter be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 
 “ERISA” is the Employment Retirement Income Security Act of 1974, and its regulations. “Event of Default” is defined in
Section 8. 
 “Foreign Currency” means lawful money of a country other than the United States. “Foreign
Subsidiary” means any Subsidiary which is not a Domestic Subsidiary. 
 “Funding Date” is any date on which a
Credit Extension is made to or on account of Borrower which shall be a Business Day. 
 “FX Business Day” is any day when
(a) Bank’s Foreign Exchange Department is conducting its normal business and (b) the Foreign Currency being purchased or sold by Borrower is available to Bank from the entity from which Bank shall buy or sell such Foreign Currency.

 “FX Forward Contract” is defined in Section 2.1.3. 
 “FX Reserve” is defined in Section 2.1.3. 
 “GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and
statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant segment of the accounting profession, which are applicable to the circumstances as of the
date of determination. 
 “General Intangibles” is all “general intangibles” as defined in the Code in effect on
the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and derivative work,
whether published or unpublished, any patents, trademarks, service marks and, to the extent permitted under applicable law, any applications therefor, whether registered or not, any trade secret rights, including any rights to unpatented inventions,
payment intangibles, royalties, contract rights, goodwill, franchise agreements, purchase orders, customer lists, route lists, telephone numbers, domain names, claims, income and other tax refunds, security and other deposits, options to 

  

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purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance
policies (including without limitation key man, property damage, and business interruption insurance), payments of insurance and rights to payment of any kind. 
 “Guarantor” is any present or future guarantor of the Obligations (and for purposes hereof, it is understood and agreed that Intellon Canada Inc. shall not be a Guarantor). 
 “Indebtedness” is (a) indebtedness for borrowed money or the deferred price of property or services, such as reimbursement and
other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital tease obligations, and (d) Contingent Obligations. 
 “Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any other bankruptcy or
insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 
 “Inventory” is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may
hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of
Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 
 “Investment” is any beneficial ownership interest in any Person (including stock, partnership interest or other securities), and any loan, advance or capital contribution to any Person. 
 “Key Person” is Borrower’s Chief Executive Officer who is, as of the Effective Date, Charles E. Harris. 
 “Knowledge”, when used with respect to any fact or circumstance, means that the subject person either has actual knowledge, or that such
person should have reasonably known (given that person’s duties and responsibilities as an officer of the Borrower, as such duties and responsibilities then exist at the time such knowledge is measured), of such fact or circumstance.

 “Letter of Credit” means a standby letter of credit issued by Bank or another institution based upon an application,
guarantee, indemnity or similar agreement on the part of Bank as set forth in Section 2.1.2. 
 “Letter of Credit
Application” is defined in Section 2.1.1(a). 
 “Letter of Credit Reserve” has the meaning set forth in
Section 2.1.2(d). 
 “LIBOR Rate” has the meaning set forth in the LIBOR Supplement. 
 “LIBOR Supplement” means that certain LIBOR Supplement to Loan Agreement, dated as of the date hereof, by and between the Borrower and
the Bank. 
 “Lien” is a mortgage, lien, deed of trust, charge, pledge, security interest or other encumbrance. 

“Loan Documents” are, collectively, this Agreement, the Perfection Certificate, any note, or notes or guaranties executed by Borrower
or any Guarantor, and any other present or future agreement between Borrower any Guarantor and/or for the benefit of Bank in connection with this Agreement, all as amended, restated, or otherwise modified. 
 “Material Adverse Change” is (a) a material impairment in the perfection or priority of Bank’s Lien in the Collateral or in
the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower; or (c) a material impairment of the prospect of repayment of any portion of the Obligations.

 “Minimum Quarterly Interest” is an amount equal to $20,000. 
 “Net Income” means, as calculated on a consolidated basis for Borrower and its Subsidiaries for any period as at any date of
determination, the net profit (or loss), after provision for taxes, of Borrower and its Subsidiaries for such period taken as a single accounting period. 
 “Obligations” are Borrower’s obligation to pay when due any debts, principal, interest, Bank Expenses and other amounts Borrower owes Bank now or later, whether under this Agreement, the Loan
Documents, or otherwise, including, without limitation, all obligations relating to letters of credit, cash 

  

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management services, and foreign exchange contracts, if any, and including interest accruing after Insolvency Proceedings begin and debts, liabilities, or
obligations of Borrower assigned to Bank, and the performance of Borrower’s duties under the Loan Documents. 
 “Operating
Documents” are, for any Person, such Person’s formation documents, as certified with the Secretary of State of such Person’s state of formation on a date that is no earlier than 30 days prior to the Effective Date, and,
(a) if such Person is a corporation, its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its
partnership agreement (or similar agreement), each of the foregoing with all current amendments or modifications thereto. 
 “Payment/Advance Form” is that certain form attached hereto as Exhibit B. 
 “Perfection
Certificate” is defined in Section 5.1. 
 “Permitted Indebtedness” is: 
 (a) Borrower’s Indebtedness to Bank under this Agreement and the other Loan Documents; 
 (b) Indebtedness existing on the Effective Date and shown on the Perfection Certificate; 
 (c) Subordinated Debt; 
 (d) unsecured
Indebtedness to trade creditors and with respect to surety bonds and similar obligations incurred in the ordinary course of business; 
 (e)
Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; 
 (f) Indebtedness in an
aggregate principal amount not to exceed $1,500,000 secured by Permitted Liens; 
 (i) extensions, refinancings, modifications, amendments
and restatements of any items of Permitted Indebtedness (a) through (f) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower or its
Subsidiary, as the case may be. 
 “Permitted Investments” are: 
 (a) Investments shown on the Perfection Certificate and existing on the Effective Date; 
 (b) Cash Equivalents; 
 (c) Investments
consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of Borrower; 
 (d) Investments consisting of deposit accounts in which Bank has a perfected security interest; 
 (e) Investments accepted in
connection with Transfers permitted by Section 7.1; 
 (f) Investments by Borrower (i) in Intellon Canada Inc. (“ICI”) in
the ordinary course of business and pursuant to the Research and Development Agreement between Borrower and ICI in an amount not to exceed $10,000,000 in the aggregate in any fiscal year, and (ii) Investments by Borrower in any Subsidiaries
that are Guarantors in an aggregate amount not to exceed $5,000,000 in any fiscal year; 
 (g) Investments consisting of (i) travel
advances and employee relocation loans and other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries
pursuant to employee stock purchase plans or agreements approved by Borrower’s Board of Directors; 
  

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 (h) Investments (including debt obligations) received in connection with the bankruptcy or reorganization
of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 
 (i) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions to, customers and suppliers who are not Affiliates, in the ordinary course of business; provided that this
paragraph (i) shall not apply to investments of Borrower in any Subsidiary; 
 “Permitted Liens” are: 
 (a) Liens existing on the Effective Date and shown on the Perfection Certificate or arising under this Agreement and the other Loan Documents; 

(b) Liens for taxes, fees, assessments or other government charges or levies, either not delinquent or being contested in good faith and for which
Borrower maintains adequate reserves on its Books, if they have no priority over any of Bank’s Liens on any Collateral included the Borrowing Base or any proceeds thereof; 
 (c) purchase money Liens (i) on Equipment acquired or held by Borrower incurred for financing the acquisition of the Equipment securing no more than
$1,500,000 in the aggregate amount outstanding, or (ii) existing on Equipment when acquired, if the Lien is confined to the property and improvements and the proceeds of the Equipment; 
 (d) statutory Liens securing claims or demands of materialmen, mechanics, carriers, warehousemen, landlords and other Persons imposed without action of
such parties, provided, they have no priority over any of Bank’s Lien in any Collateral included in the Borrowing Base and the aggregate amount of such Liens does not at any time exceed $100,000; 
 (e) Liens to secure payment of workers’ compensation, employment insurance, old-age pensions, social security and other like obligations incurred in
the ordinary course of business, provided, they have no priority over any of Bank’s Liens in any Collateral included in the Borrowing Base and the aggregate amount of the Indebtedness secured by such Liens does not at any time exceed
$1,000,000; 
 (f) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through
(c), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase; 
 (g) leases or subleases of real property granted in the ordinary course of business, and leases, subleases, non-exclusive licenses or sublicenses of
property (other than real property or intellectual property) granted in the ordinary course of Borrower’s business, if the leases, subleases, licenses and sublicenses do not prohibit granting Bank a security interest; 
 (h) non-exclusive licenses of intellectual property granted to third parties in the ordinary course of business, and licenses of intellectual property
that could not result in a legal transfer of title of the licensed property that may be exclusive in the ordinary course of business in accordance with historical practices. 
 (i) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under Section 8.4 or 8.7; and

 (j) Liens in favor of other financial institutions arising in connection with Borrower’s deposit and/or securities accounts held at
such institutions, provided that Bank has a perfected security interest in the amounts held in such deposit and/or securities accounts. 
 “Person” is any individual, sole proprietorship, partnership, limited liability company, joint venture, company, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm,
joint stock company, estate, entity or government agency. 
 “Purchase Order” shall mean a purchase order received by
Borrower from a customer. 
  

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 “Qualified Public Offering” means a public offering of the shares of capital stock of
the Borrower in respect of which the Borrower receives cash proceeds (net of costs, fees and expenses arising in connection with such public offering) of not less than $50,000,000. 
 “Quick Assets” is, on any date, Borrower’s consolidated, unrestricted cash and Cash Equivalents maintained with the Bank, and net
billed accounts receivable and investments with maturities of fewer than 12 months determined according to GAAP. 
 “Reducing
Facility” is a revolving line of credit permitting advances in a principal amount not to exceed the Reducing Facility Amount as in effect from time to time. 
 “Reducing Facility Advance” means an advance (or advances) under the Reducing Revolving Line. 
 “Reducing Facility Amount” is, initially, $4,000,000, and thereafter, is an automatically reducing amount determined as follows: 
  

				
	 Period
	  	Amount
		
	 March 1, 2007 to May 31, 2007
	  	$	3,750,000
		
	 June 1, 2007 to August 31, 2007
	  	$	3,500,000
		
	 September 1, 2007 to November 30, 2007
	  	$	3,250,000
		
	 December 31, 2007 to February 29, 2008
	  	$	3,000,000
		
	 March 1, 2008 to May 31, 2008
	  	$	2,750,000
		
	 June 1, 2008 to August 31, 2008
	  	$	2,500,000
		
	 September 1, 2008 to November 30, 2008
	  	$	2,250,000
		
	 December 31, 2008 to February 29, 2009
	  	$	2,000,000
		
	 March 1, 2009 to May 31, 2009
	  	$	1,750,000
		
	 June 1, 2009 to August 31, 2009
	  	$	1,500,000
		
	 September 1, 2009 to November 30, 2009
	  	$	1,250,000
		
	 December 31, 2009 to February 29, 2010
	  	$	1,000,000
		
	 March 1, 2010 to May 31, 2010
	  	$	1,750,000
		
	 June 1, 2010 to August 31, 2010
	  	$	1,500,000
		
	 September 1, 2010 to the Reducing Facility Maturity Date
	  	$	1,250,000

 “Reducing Facility Availability Amount” is (a) the Reducing Facility Amount
minus (b) the outstanding principal balance of any Reducing Facility Advances. 
 “Reducing Facility Maturity Date” is
the earliest of (a) October 31, 2010 or (b) the occurrence of an Event of Default. 
 “Registered
Organization” is any “registered organization” as defined in the Code with such additions to such term as may hereafter be made 
 “Responsible Officer” is any of the Chief Executive Officer, President, Chief Financial Officer and Controller of Borrower. 
 “Revolving Line” is an Advance or Advances in an aggregate amount of up to $6,000,000 outstanding at any time. 
 “Revolving Line Maturity Date” is the earliest of (a) October 31, 2008 or (b) the occurrence of an Event of Default. 
 “Securities Account” is any “securities account” as defined in the Code with such additions to such term as may hereafter be
made. 
 “Settlement Date” is defined in Section 2.1.3. 
  

 -25- 








 “Stockholders Agreement Qualified Public Offering” means a firm commitment underwritten
public offering of shares of common stock of Borrower in which (x) the aggregate gross proceeds from such offering to Borrower shall be at least $30,000,000 and (y) the price per share paid by the public for such shares shall be at least
$3.28 (subject to equitable adjustment in the event of any stock dividend, stock split, combination, reorganization, recapitalization, reclassification or other similar event affecting such shares after March 15,2005). 
 “Subordinated Debt” is indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter indebtedness to Bank
(pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to Bank. 
 “Subsidiary” means, with respect to any Person, any Person of which more than 50% of the voting stock or other equity interests is owned
or controlled, directly or indirectly, by such Person or one or more Affiliates of such Person. 
 “Tangible Net Worth” is,
on any date, the consolidated total assets of Borrower and its Subsidiaries minus (a) any amounts attributable to (i) goodwill, (ii) intangible items including unamortized debt discount and expense, patents, trade and service
marks and names, copyrights and research and development expenses except prepaid expenses, (iii) notes, accounts receivable and other obligations owing to Borrower from its officers or other Affiliates, and (iv) reserves not already
deducted from assets, minus (b) Total Liabilities. 
 “Total Liabilities” is on any day, obligations that
should, under GAAP, be classified as liabilities on Borrower’s consolidated balance sheet, including all Indebtedness, and current portion of Subordinated Debt permitted by Bank to be paid by Borrower, but excluding all other Subordinated Debt.

 “Transfer” is defined in Section 7.1. 
 [Signature page follows.] 
  

 -26- 








 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
Effective Date. 
  

					
	BORROWER:
	
	INTELLON CORPORATION
			
	By	 	 /s/ Charles E. Harris
	 	
	Name:	 	Charles E. Harris	 	
	Title:	 	Chairman and CEO	 	
	
	BANK:
	
	SILICON VALLEY BANK
			
	By	 	 /s/ Andrew A. Rice
	 	
	Name:	 	Andrew A. Rice	 	
	Title:	 	Sr. Vice President	 	


					
	Effective Date:	 	  
	 	

 [Signature page to Loan and Security Agreement] 







 EXHIBIT A 
 The Collateral consists of all of Borrower’s right, title and interest in and to the following personal property: 
 All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, General Intangibles (except as provided
below), commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by
a writing), securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and 
 all Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and
replacements, products, proceeds and insurance proceeds of any or all of the foregoing. 
 Notwithstanding the foregoing, the
Collateral does not include any of the following, whether now owned or hereafter acquired any copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and derivative work, whether published or
unpublished, any patents, patent applications and like protections, including improvements, divisions, continuations, renewals, reissues, extensions, and continuations-in-part of the same, trademarks, service marks and, to the extent permitted under
applicable law, any applications therefor, whether registered or not, and the goodwill of the business of Borrower connected with and symbolized thereby, masking rights, know-how, operating manuals, trade secret rights, rights to unpatented
inventions, and any claims for damage by way of any past, present, or future infringement of any of the foregoing; provided, however, the Collateral shall include all Accounts, license and royalty fees and other revenues, proceeds, or income arising
out of or relating to any of the foregoing. 
 Pursuant to the terms of a certain negative pledge arrangement with Bank,
Borrower has agreed not to encumber any of its copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and derivative work, whether published or unpublished, any patents, patent applications
and like protections, including improvements, divisions, continuations, renewals, reissues, extensions, and continuations-in-part of the same, trademarks, service marks and, to the extent permitted under applicable law, any applications therefor,
whether registered or not, and the goodwill of the business of Borrower connected with and symbolized thereby, know-how, operating manuals, trade secret rights, rights to unpatented inventions, and any claims for damage by way of any past, present,
or future infringement of any of the foregoing, without Bank’s prior written consent. 







 EXHIBIT B 
 Loan Payment/Advance Request Form 
 DEADLINE FOR
SAME DAY PROCESSING IS NOON P.S.T. 
  
  

											
	Fax To:	 		 		 		  		  	Date:                         
	LOAN PAYMENT:	  	
				
		 		 		 	INTELLON CORPORATION
			
	 From Account #                                  
                                
	 		 	To Account
#                                        
                                        
                                      
	(Deposit Account #)	 		 	(Loan Account #)
			
	 Principal $                                    
                                         

	 		 	and/or interest
$                                        
                                        
                                  
			
	 Authorized Signature:                                 
                   
	 		 	        Phone Number:                           
                                        
                                      
					
	 Print Name/Title:                                   
                             
	 		 		  		  	
	
	  
 LOAN
ADVANCE:
  
 Complete Outgoing Wire Request section below if all
or a portion of the funds from this loan advance are for an outgoing wire.
  

	 From Account #
                                        
                         
	 		 	To Account #
                                        
                                        
                                     
	(Loan Account #)	 		 	(Deposit Account #)
			
	 Amount of Advance
$                                        
               
	 		 	
	
	  
 All Borrower’s representations and warranties in the
Loan and Security Agreement are true, correct and complete in all material
 respects on the date of the request for an advance; 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:
  

	Authorized
Signature:                                     
               	 	                Phone Number:                   
                                        
                                        
      
			
	 Print
Name/Title:                                      
                          
	 		 	
	
	  
 OUTGOING WIRE
REQUEST:
  
 Complete only if all or a portion of funds from the loan
advance above is to be wired.
  
 Deadline for same day processing is noon,
P.S.T.
  

	Beneficiary Name:
                                        
                    	 		 	    Amount of Wire:
$                                        
                                        
                        
			
	Beneficiary Bank:
                                        
                      	 		 	    Account Number:
                                        
                                        
                         
			
	City and State:
                                        
                            	 		 	
			
	Beneficiary Bank Transit (ABA) #:
                             	 		 	
			
		 		 	Beneficiary Bank Code (Swift, Sort, Chip, etc.):
                                       
             
		 		 	         (For International Wire Only)

			
	Intermediary Bank:
                                        
                   	 		 	Transit (ABA) #:
                                        
                                        
                               
				
	For Further Credit to:
                                        
               	 		 		  	
				
	Special Instruction:
                                        
                   	 		 		  	
	
	  
 By signing below, I (we) acknowledge and agree that my
(our) funds transfer request shall be processed in accordance with and
 subject to the terms and conditions set forth in the agreements(s) covering
funds transfer service(s), which agreements(s) were
 previously received and executed by me (us).
  



					
	Authorized Signature:
                                        
                                      	 		 	2nd Signature (if required):
                                        
                            
	Print Name/Title:
                                        
                                        
       	 		 	Print Name/Title:
                                        
                                        
       
	Telephone #:
                                        
                                        
               	 		 	Telephone #:
                                        
                                        
               








 EXHIBIT C 
 BORROWING BASE CERTIFICATE 

	 	



									
		  	 Borrower; Intellon Corporation
 Lender: Silicon Valley
Bank
 Commitment Amount:            
$                        
	  		 		 	
	ACCOUNTS RECEIVABLE	 		 	
	1.	  	Accounts Receivable Book Value as of
                                        
    	 	$                                
	2.	  	Additions (please explain on reverse)	 	$                                
	3.	  	TOTAL ACCOUNTS RECEIVABLE	 	$                                
		
	ACCOUNTS RECEIVABLE DEDUCTIONS (without duplication)	 	
	4.	  	Amounts over 90 days due	 	$                                
	5.	  	Balance of 50% over 90 day accounts	 	$                                
	6.	  	Credit balances over 90 days	 	$                                
	7.	  	Concentration Limits	 	$                                
	8.	  	Foreign Accounts	 	$                                
	9.	  	Governmental Accounts	 	$                                
	10.	  	Contra Accounts	 	$                                
	11.	  	Promotion or Demo Accounts	 	$                                
	12.	  	Intercompany/Employee Accounts	 	$                                
	13.	  	Disputed Accounts	 	$                                
	14.	  	Deferred Revenue	 	$                                
	15.	  	Other (please explain on reverse)	 	$                                
	16.	  	TOTAL ACCOUNTS RECEIVABLE DEDUCTIONS	 	$                                
	17.	  	Eligible Accounts (#3 minus #16)	 	$                                
	18.	  	ELIGIBLE AMOUNT OF ACCOUNTS (80% of #17)	 	$                                
				
	PURCHASE ORDERS	  		 		 	
	19.	  	Purchase Order Sublimit	 	$                                
	20.	  	Eligible Purchase Orders as of
                                        
    	 	$                                
	21.	  	Eligible Amount of Purchase Orders (50% of #20)	 	$                                
	22.	  	Eligible Purchase Order Availability [Less of #19 and #21]	 	$                                
				
	BALANCES	  		 		 	
	23.	  	Maximum Loan Amount	 	$                                
	24.	  	Total Funds Available [Lesser of #23 or (#18 plus #22)]	 	$                                
	25.	  	Present balance owing on Line of Credit	 	$                                
	26.	  	Outstanding under Sublimits	 	$                                
	27.	  	RESERVE POSITION (#24 minus #25 and #26)	 	$                                

 The undersigned represents and warrants that this is true, complete and correct, and that the
information in this Borrowing Base Certificate complies with the representations and warranties in the Loan and Security Agreement between the undersigned and Silicon Valley Bank. 
  








															
		 		 		 		 	BANK USE ONLY	 	
						
	COMMENTS:	 		 		 	Received by:	 	  
	 	
		 		 		 		 		 	AUTHORIZED SIGNER	 	
							
		 		 		 		 	Date:	 	  
	 	
	By:	 	  
	 		 	Verified:	 	  
	 	
		 	Authorized Signer	 		 		 	AUTHORIZED SIGNER	 	
							
	Date:	 		 		 		 	Date:	 	  
	 	
		 		 		 		 	Compliance Status:	 	Yes                    No	 	

  

 -2- 








 EXHIBIT D 
 BORROWING RESOLUTIONS 
 Silicon Valley Bank [Logo] 
 CORPORATE BORROWING CERTIFICATE 
  

							
	BORROWER:	  	Intellon Corporation	 	DATE:	 	  

	BANK:	  	Silicon Valley Bank	 		 	

 I hereby certify as follows, as of the date set forth above: 
 1. I am the Secretary, Assistant Secretary or other officer of the Borrower. My title is as set forth below. 
 2. Borrower’s exact legal name is set forth above. Borrower is a corporation existing under the laws of the State of Delaware 
 3. Attached hereto are true, correct and complete copies of Borrower’s Articles/Certificate of Incorporation (including amendments), as filed with the Secretary of
State of the state in which Borrower is incorporated as set forth in paragraph 1 above. Such Articles/Certificate of Incorporation have not been amended, annulled, rescinded, revoked or supplemented, and remain in full force and effect as of the
date hereof. 
 4. The following resolutions were duly and validly adopted by Borrower’s Board of Directors at a duly held meeting of such directors (or
pursuant to a unanimous written consent or other authorized corporate action). Such resolutions are in full force and effect as of the date hereof and have not been in any way modified, repealed, rescinded, amended or revoked, and Bank may rely on
them until Bank receives written notice of revocation from Borrower. 
 RESOLVED, that any one of
the following officers or employees of Borrower, whose names, titles and signatures are below, may act on behalf of Borrower: 
  

							
	 Name
	  	 Title
	  	 Signature
	  	 Authorized to
 Add or Remove
 Signatories

				
	  
	  	  
	  	  
	  	 ̈
				
	  
	  	  
	  	  
	  	 ̈
				
	  
	  	  
	  	  
	  	 ̈
				
	  
	  	  
	  	  
	  	 ̈

 RESOLVED FURTHER, that any one of the persons
designated above with a checked box beside his or her name may, from time to time, add or remove any individuals to and from the above list of persons authorized to act on behalf of Borrower. 
 RESOLVED FURTHER, that such individuals may, on behalf of Borrower: 
 Borrow Money. Borrow money from Silicon Valley Bank (“Bank”). 
 Execute Loan Documents. Execute any loan documents Bank requires. 
 Grant Security. Grant Bank a security interest in any of Borrower’s assets. 







 Negotiate Items. Negotiate or discount all drafts, trade acceptances, promissory notes, or other
indebtedness in which Borrower has an interest and receive cash or otherwise use the proceeds. 
 Letters of Credit. Apply for letters
of credit from Bank. 
 Foreign Exchange Contracts. Execute spot or forward foreign exchange contracts. 
 Further Acts. Designate other individuals to request advances, pay fees and costs and execute other documents or agreements (including documents or
agreement that waive Borrowers right to a jury trial) they believe to be necessary to effectuate such resolutions. 
 RESOLVED FURTHER, that all acts authorized by the above resolutions and any prior acts relating thereto are ratified. 
 5. The persons listed above are Borrower’s officers or employees with their titles and signatures shown next to their names. 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  



 *** If the Secretary, Assistant Secretary or other certifying officer executing above is
designated by the resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be signed by a second authorized officer or director of Borrower. 
 I, the
                                        
of Borrower, hereby certify as to paragraphs 1 through 5 above, as of the date set forth 
 [print title] 
 above. 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  



  

 -2- 








 EXHIBIT E 
 COMPLIANCE CERTIFICATE 
  

											
	TO:	 	SILICON VALLEY BANK	  		  		  	Date:	 	  

	FROM:	 	INTELLON CORPORATION	  		  		  		 	

 The undersigned authorized officer of INTELLON CORPORATION (“Borrower”) certifies that
under the terms and conditions of the 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, (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, has 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 5.9 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 these are prepared in accordance with generally 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

	Monthly financial statements with Compliance Certificate	  	Monthly within 30 days	  	Yes          No
	Annual financial statement 1CPA Audited) + CC	  	FYE within 150 days	  	Yes          No
	10-Q, 10-Kand 8-K	  	Within 5 days after filing with SEC	  	Yes          No
	Borrowing Base Certificate A/R & A/P Agings and Purchase Order Reports	  	Monthly within 30 days	  	Yes          No

  

									
	 Financial Covenant
	  	Required	  	Actual	  	Complies
	 Maintain on a Monthly Basis:
	  			  			  	
	 Minimum Adjusted Quick Ratio
	  	 	1.00:1.00	  	 	        :1.00	  	Yes          No
	 Minimum Tangible Net Worth
	  	$	                	  	$	                	  	Yes          No

 The following financial covenant analys[is][es] 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.”) 

	
	  

	  

	  










							
	[Borrower name]	  		 	BANK USE ONLY
				
	By:	 	  
	  		 	Received
by:                                       
                 
	Name:	 	  
	  		 	 AUTHORIZED SIGNER

	Title:	 	  
	  		 	Date:
                                        
                            
				
		 		  		 	Verified:
                                        
                      
		 		  		 	 AUTHORIZED SIGNER

				
		 		  		 	Date:
                                        
                            
				
		 		  		 	Compliance Status:             Yes        No

  

 -2- 








 Schedule 1 to Compliance Certificate 
 Financial Covenants of Borrower 
 Dated:
                             
  

	I.	Adjusted Quick Ratio (Section 6.7(a)) 

 Required:        1.00:1.00 
 Actual: 
  

					
	 A.
	  	Aggregate value of the unrestricted cash and cash equivalents of Borrower and its Subsidiaries	  	$            
			
	 B.
	  	Aggregate value of the net billed accounts receivable of Borrower and its Subsidiaries	  	$            
			
	 C.
	  	Aggregate value of the Investments with maturities of fewer than 12 months of Borrower and it Subsidiaries	  	$            
			
	 D.
	  	Quick Assets (the sum of lines A through C)	  	$            
			
	 E.
	  	Aggregate value of Obligations to Bank	  	$            
			
	 F.
	  	Aggregate value of liabilities of Borrower and its Subsidiaries (including all Indebtedness) that matures within one (1) year and current portion of Subordinated Debt permitted by Bank to be
paid by Borrower	  	$            
			
	 G.
	  	Current Liabilities (the sum of lines E and F)	  	$            
			
	 H.
	  	Aggregate value of all amounts received or invoiced by Borrower in advance of performance under contracts and not yet recognized as revenue	  	$            
			
	 I.
	  	Line G minus line H	  	$            
			
	 J.
	  	Adjusted Quick Ratio (line D divided by line 1)	  	                

 Is line J equal to or greater than 1.00:1:00? 
  

							
	         No, not in compliance	  		  		  	         Yes, in compliance









	II.	Tangible Net Worth Ratio (Section 6.7(b)) 

 Required:        $         
 Actual: 
  

					
	 A.
	  	Aggregate value of total assets of Borrower and Its Subsidiaries	  	$            
			
	 B.
	  	Aggregate value of goodwill of Borrower [and its Subsidiaries]	  	$            
			
	 C.
	  	Aggregate value of intangible assets of Borrower [and its Subsidiaries]	  	$            
			
	 D.
	  	Aggregate value of any reserves not already deducted from assets	  	$            
			
	 E.
	  	Aggregate value of liabilities of Borrower and its Subsidiaries (including all Indebtedness) and current portion of Subordinated Debt permitted by Bank to be paid by Borrower (but no other
Subordinated Debt)	  	$            
			
	 F.
	  	Tangible Net Worth (line A minus line B minus line C minus line D minus line E)	  	$            

 Is line F equal to or greater than
$                    ? 
  

							
	         No, not in compliance	  		  		  	         Yes, in compliance

  

 -2- 








 FIRST AMENDMENT TO 
 LOAN AND SECURITY AGREEMENT 
 THIS
FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into this 28th day of September, 2007, by and between SILICON VALLEY
BANK (“Bank”) and INTELLON CORPORATION, a Delaware corporation (“Borrower”) whose address is 5100 West Silver Springs Blvd., Ocala, Florida 34482. 
 RECITALS 
 A. Bank and Borrower have entered into that
certain Loan and Security Agreement dated as of ________________ (as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”). 
 B. Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement. 
 C. Borrower has requested that Bank amend the Loan Agreement to (i) modify the Tangible Net Worth covenant contained in Section 6.7(b)
of the Loan Agreement, and (ii) make certain other revisions to the Loan Agreement as more fully set forth herein. 
 D. Bank has
agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally
bound, the parties hereto agree as follows: 
 1. Definitions. Capitalized terms used but not defined in this Amendment shall have the
meanings given to them in the Loan Agreement. 
 2. Amendments to Loan Agreement. 
 2.1 Section 6.7(b) (Tangible Net Worth). Section 6.7(b) is amended in its entirety and replaced with the following:

 (b) Tangible Net Worth. A Tangible Net Worth of at least $20,000,000, increasing on the first day of each quarter
(commencing on April 1, 2007) by an amount equal to 50% of positive quarterly Net Income and 75% of issuances of Equity after April 1, 2007. 









 2.2 Section 13 (Definitions). The following term and its definition set forth
in Section 13.1 is amended in its entirety and replaced with the following: 
 “Reducing Facility
Amount” is, initially, $4,000,000, and thereafter, is an automatically reducing amount determined as follows: 
  

				
	 Period
	  	Amount
	 March 1, 2007 to May 31, 2007
	  	$	3,750,000
	 June 1, 2007 to August 31, 2007
	  	$	3,500,000
	 September 1, 2007 to November 30, 2007
	  	$	3,250,000
	 December 1, 2007 to February 29, 2008
	  	$	3,000,000
	 March 1, 2008 to May 31, 2008
	  	$	2,750,000
	 June 1, 2008 to August 31, 2008
	  	$	2,500,000
	 September 1, 2008 to November 30, 2008
	  	$	2,250,000
	 December 1, 2008 to February 29, 2009
	  	$	2,000,000
	 March 1, 2009 to May 31, 2009
	  	$	1,750,000
	 June 1, 2009 to August 31, 2009
	  	$	1,500,000
	 September 1, 2009 to November 30, 2009
	  	$	1,250,000
	 December 1, 2009 to February 29, 2010
	  	$	1,000,000
	 March 1, 2010 to May 31, 2010
	  	$	750,000
	 June 1, 2010 to August 31, 2010
	  	$	500,000
	 September 1, 2010 to the Reducing Facility Maturity Date
	  	$	250,000

 3. Limitation of Amendments. 
 3.1 The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited
precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may
have in the future under or in connection with any Loan Document. 
 3.2 This Amendment shall be construed in
connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full
force and effect. 
 4. Representations and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents
and warrants to Bank as follows: 
 4.1 Immediately after giving effect to this Amendment (a) the representations
and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and
correct as of such date), and (b) no Event of Default has occurred and is continuing; 
  

 2 








 4.2 Borrower has the power and authority to execute and deliver this Amendment and
to perform its obligations under the Loan Agreement, as amended by this Amendment; 
 4.3 The organizational documents
of Borrower delivered to Bank on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 
 4.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, have been duly authorized; 
 4.5 The execution and delivery by Borrower of
this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual
restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower;

 4.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations
under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or
subdivision thereof, binding on Borrower, except as already has been obtained or made; and 
 4.7 This Amendment has
been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation,
moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights. 
 5.
Counterparts. This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 
  

 3 








 6. Effectiveness. This Amendment shall be deemed effective upon (a) the due execution and
delivery to Bank of this Amendment by each party hereto, (b) Borrower’s payment of amendment fees in an aggregate amount equal to $2,000, (c) Bank’s receipt of the Acknowledgment of Amendment and Reaffirmation of Pledge
substantially in the form attached hereto as Schedule 1, duly executed and delivered by each Pledgor, and (d) payment of Bank’s legal fees and expenses in connection with the negotiation and preparation of this Amendment. 
 [Signature page follows.] 
  

 4 








 IN WITNESS WHEREOF, the parties hereto
have caused this Amendment to be duly executed and delivered as of the date first written above. 
  

			
	BANK
	
	Silicon Valley Bank
		
	By:	 	/s/ Scott McCarty
	Name:  	 	Scott McCarty
	Title:	 	VP

  

			
	BORROWER
	
	Intellon Corporation
		
	By:	 	/s/ Brian McGee
	Name:  	 	Brian McGee
	Title:	 	CFO

 [Signature Page to Amendment to L&SA] 
  

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 Schedule 1 
 ACKNOWLEDGMENT OF AMENDMENT 
 AND REAFFIRMATION OF PLEDGE 
 Section 1. Pledgor hereby acknowledges and confirms that it has reviewed and approved the terms and conditions of the First Amendment to Loan
and Security Agreement dated as of even date herewith (the “Amendment”). 
 Section 2. Pledgor hereby consents to the
Amendment and agrees that the Pledge Agreement securing the Obligations of Borrower under the Loan Agreement shall continue in full force and effect, shall be valid and enforceable and shall not be impaired or otherwise affected by the execution of
the Amendment or any other document or instrument delivered in connection herewith. 
 Section 3. Pledgor represents and warrants
that, after giving effect to the Amendment, all representations and warranties contained in the Pledge Agreement are true, accurate and complete as if made the date hereof. 
 Dated as of September 28, 2007 
  

									
	PLEDGOR	 		 	INTELLON CORPORATION
					
		 		 		 	By:	 	/s/ Brian McGee
		 		 		 	Name:  	 	Brian McGee
		 		 		 	Title:	 	CFO

  

 Schedule 1 Page 1