# EDGAR Filing Document

**Accession Number:** 0001777393
**File Stem:** 0001777393-26-000044
**Filing Date:** 2026-6
**Character Count:** 915876
**Document Hash:** b77c1d42489c1b46ac5b51c21266ed73
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001777393-26-000044.hdr.sgml**: 20260608

**ACCESSION NUMBER**: 0001777393-26-000044

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 85

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260608

**DATE AS OF CHANGE**: 20260608

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ChargePoint Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001777393
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 841747686
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39004
- **FILM NUMBER:** 261073721

**BUSINESS ADDRESS:**
- **STREET 1:** 240 EAST HACIENDA AVENUE
- **CITY:** CAMPBELL
- **STATE:** CA
- **ZIP:** 95008
- **BUSINESS PHONE:** (972) 514-9535

**MAIL ADDRESS:**
- **STREET 1:** 240 EAST HACIENDA AVENUE
- **CITY:** CAMPBELL
- **STATE:** CA
- **ZIP:** 95008

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Switchback Energy Acquisition Corp
- **DATE OF NAME CHANGE:** 20190521

?xml version='1.0' encoding='ASCII'? chpt-20260430

<u>[**Table of Contents**](#idcae0103baeb47faa6662769d18862ce_7)</u>

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q** 

**(Mark One)**

⌧ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

**For the quarterly period ended April 30, 2026** 

OR

□ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________ to _________

Commission file number 001-39004

**ChargePoint Holdings, Inc.**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Delaware** | **84-1747686** |
| (State or other jurisdiction of incorporation or organization) | (IRS Employer <br>Identification No.) |

---

---

| | |
|:---|:---|
| **240 East Hacienda Avenue Campbell, CA** | **95008** |
| (Address of principal executive offices) | (Zip Code) |

---

**(408) 841-4500**

(Registrant's telephone number, including area code)

**N/A**

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>Title of each class&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trading Symbol(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name of each exchange on which registered</u>**

Common Stock, par value $0.0001&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHPT&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes ⌧ No □

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ⌧ No □

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | □ | Accelerated filer | ⌧ |
| Non-accelerated filer | □ | Smaller reporting company | □ |
| |  | Emerging growth company | □ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). &nbsp;&nbsp;&nbsp;&nbsp;Yes □&nbsp;&nbsp;&nbsp;&nbsp; No ⌧

The registrant had outstanding 25,897,631 shares of common stock as of May 22, 2026.

------

<u>[**Table of Contents**](#idcae0103baeb47faa6662769d18862ce_7)</u>

**CHARGEPOINT HOLDINGS, INC.**

**Table of Contents**

---

| | | |
|:---|:---|:---|
| | | **Page** |
| **<u>[Part I - Financial Information](#idcae0103baeb47faa6662769d18862ce_13)</u>** | **<u>[Part I - Financial Information](#idcae0103baeb47faa6662769d18862ce_13)</u>** | |
| <u>[Item 1.](#idcae0103baeb47faa6662769d18862ce_16)</u> | <u>[Condensed Consolidated Financial Statements (Unaudited)](#idcae0103baeb47faa6662769d18862ce_16)</u> | <u>[5](#idcae0103baeb47faa6662769d18862ce_16)</u> |
| <u>[Item 2.](#idcae0103baeb47faa6662769d18862ce_103)</u> | <u>[Management's Discussion and Analysis of Financial Condition and Results of Operations](#idcae0103baeb47faa6662769d18862ce_103)</u> | <u>[31](#idcae0103baeb47faa6662769d18862ce_103)</u> |
| <u>[Item 3.](#idcae0103baeb47faa6662769d18862ce_127)</u> | <u>[Quantitative and Qualitative Disclosures About Market Risk](#idcae0103baeb47faa6662769d18862ce_127)</u> | <u>[43](#idcae0103baeb47faa6662769d18862ce_127)</u> |
| <u>[Item 4.](#idcae0103baeb47faa6662769d18862ce_130)</u> | <u>[Controls and Procedures](#idcae0103baeb47faa6662769d18862ce_130)</u> | <u>[43](#idcae0103baeb47faa6662769d18862ce_130)</u> |
| **<u>[Part II - Other Information](#idcae0103baeb47faa6662769d18862ce_133)</u>** | **<u>[Part II - Other Information](#idcae0103baeb47faa6662769d18862ce_133)</u>** | |
| <u>[Item 1.](#idcae0103baeb47faa6662769d18862ce_136)</u> | <u>[Legal Proceedings](#idcae0103baeb47faa6662769d18862ce_136)</u> | <u>[44](#idcae0103baeb47faa6662769d18862ce_136)</u> |
| <u>[Item 1A.](#idcae0103baeb47faa6662769d18862ce_139)</u> | <u>[Risk Factors](#idcae0103baeb47faa6662769d18862ce_139)</u> | <u>[44](#idcae0103baeb47faa6662769d18862ce_139)</u> |
| <u>[Item 2.](#idcae0103baeb47faa6662769d18862ce_142)</u> | <u>[Unregistered Sales of Equity Securities and Use of Proceeds](#idcae0103baeb47faa6662769d18862ce_142)</u> | <u>[84](#idcae0103baeb47faa6662769d18862ce_142)</u> |
| <u>[Item 3.](#idcae0103baeb47faa6662769d18862ce_145)</u> | <u>[Defaults Upon Senior Securities](#idcae0103baeb47faa6662769d18862ce_145)</u> | <u>[84](#idcae0103baeb47faa6662769d18862ce_145)</u> |
| <u>[Item 4.](#idcae0103baeb47faa6662769d18862ce_148)</u> | <u>[Mine Safety Disclosures](#idcae0103baeb47faa6662769d18862ce_148)</u> | <u>[84](#idcae0103baeb47faa6662769d18862ce_148)</u> |
| <u>[Item 5.](#idcae0103baeb47faa6662769d18862ce_151)</u> | <u>[Other Information](#idcae0103baeb47faa6662769d18862ce_151)</u> | <u>[84](#idcae0103baeb47faa6662769d18862ce_151)</u> |
| <u>[Item 6.](#idcae0103baeb47faa6662769d18862ce_157)</u> | <u>[Exhibits](#idcae0103baeb47faa6662769d18862ce_157)</u> | <u>[85](#idcae0103baeb47faa6662769d18862ce_157)</u> |
| <u>[Signatures](#idcae0103baeb47faa6662769d18862ce_160)</u> | | <u>[86](#idcae0103baeb47faa6662769d18862ce_160)</u> |

---

------

<u>[**Table of Contents**](#idcae0103baeb47faa6662769d18862ce_7)</u>

**SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS**

This quarterly report on Form 10-Q (this "Quarterly Report") includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements could include, among other things, statements regarding the future financial performance of ChargePoint Holdings, Inc. ("ChargePoint" or the "Company," or "we," "us," "our" and similar terms), as well as ChargePoint's strategy, future operations, future operating results, financial position and resources, expectations regarding revenue, losses, costs, margins and prospects, as well as management plans and objectives. All statements, other than statements of present or historical fact included in this Quarterly Report, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "intend," "believe," "estimate," "continue," "project" or negatives of such terms and other similar expressions that predict or indicate future events or trends or that are not statements of present or historical matters. These statements are based on various assumptions, whether or not identified herein, and on the current expectations of ChargePoint's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of, fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of ChargePoint. These forward-looking statements are subject to known and unknown risks, uncertainties, and assumptions about ChargePoint that may cause the actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. If any of these risks materialize or ChargePoint's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that ChargePoint does not presently know or that ChargePoint currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect ChargePoint's expectations, plans or forecasts of future events and views as of the date hereof. ChargePoint anticipates that subsequent events and developments will cause ChargePoint's assessments to change. These forward-looking statements should not be relied upon as representing ChargePoint's assessments as of any date subsequent to the date hereof. Accordingly, undue reliance should not be placed upon the forward-looking statements. ChargePoint cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of ChargePoint.

The following factors, among others, could cause actual results to differ materially from forward-looking statements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint experiences delays in new product introductions or adoption;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint's ability to expand its business in Europe and the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the electric vehicle ("EV") market and deliveries of passenger and fleet vehicles may not grow as expected;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint may not attract a sufficient number of EV fleet owners or operators as customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• incentives from governments or utilities may not materialize or may be reduced, which could reduce demand for EVs, or the portion of regulatory credits that customers claim may increase, which would reduce ChargePoint's revenue from such incentives;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of competing technologies or technological changes that result in reduced demand for EVs or other adverse effects on the EV market or our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• data security breaches or other network outages;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint identifying material weaknesses in its internal control over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint's success in retaining or recruiting, or changes in its officers, key employees or directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in applicable laws or regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of actual or threatened litigation;

------

<u>[**Table of Contents**](#idcae0103baeb47faa6662769d18862ce_7)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint's ability to maintain a strong balance sheet and to raise capital as needed to support its business and pursue growth opportunities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the possibility that ChargePoint may be adversely affected by other economic factors including macroeconomic conditions such as inflation, rising interest rates, geopolitical factors, foreign exchange volatility, adverse developments in the financial service industry, slower growth or recession or other business factors or other competitive factors.

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other risk factors included herein. Forward-looking statements reflect current views about ChargePoint's plans, strategies and prospects, which are based on information available as of the date of this Quarterly Report. Except to the extent required by applicable law, ChargePoint undertakes no obligation (and expressly disclaims any such obligation) to update or revise the forward-looking statements whether as a result of new information, future events, or otherwise.

------

<u>[**Table of Contents**](#idcae0103baeb47faa6662769d18862ce_7)</u>

**ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA**

---

| | |
|:---|:---|
| **ChargePoint Holdings, Inc. Unaudited Condensed Consolidated Financial Statements** | |
| <u>[Condensed Consolidated Balance Sheets as of April 30, 2026 and January 31, 2026 (unaudited)](#idcae0103baeb47faa6662769d18862ce_19)</u> | <u>[6](#idcae0103baeb47faa6662769d18862ce_19)</u> |
| <u>[Condensed Consolidated Statements of Operations for the Three](#idcae0103baeb47faa6662769d18862ce_25)[Months Ended](#idcae0103baeb47faa6662769d18862ce_25)[April](#idcae0103baeb47faa6662769d18862ce_25)[3](#idcae0103baeb47faa6662769d18862ce_25)[0](#idcae0103baeb47faa6662769d18862ce_25)[, 202](#idcae0103baeb47faa6662769d18862ce_25)[6](#idcae0103baeb47faa6662769d18862ce_25)[and 202](#idcae0103baeb47faa6662769d18862ce_25)[5](#idcae0103baeb47faa6662769d18862ce_25)[(unaudited)](#idcae0103baeb47faa6662769d18862ce_25)</u> | <u>[7](#idcae0103baeb47faa6662769d18862ce_25)</u> |
| <u>[Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended April 30, 2026 and 2025 (unaudited)](#idcae0103baeb47faa6662769d18862ce_31)</u> | <u>[8](#idcae0103baeb47faa6662769d18862ce_31)</u> |
| <u>[Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the Three Months Ended April 30, 2026 and 2025 (unaudited)](#idcae0103baeb47faa6662769d18862ce_34)</u> | <u>[9](#idcae0103baeb47faa6662769d18862ce_34)</u> |
| <u>[Condensed Consolidated Statements of Cash Flows for the Three Months Ended April 30, 2026 and 2025 (unaudited)](#idcae0103baeb47faa6662769d18862ce_40)</u> | <u>[10](#idcae0103baeb47faa6662769d18862ce_40)</u> |
| <u>[Notes to Condensed Consolidated Financial Statements (unaudited)](#idcae0103baeb47faa6662769d18862ce_43)</u> | <u>[11](#idcae0103baeb47faa6662769d18862ce_43)</u> |

---

------

**ChargePoint Holdings, Inc.**

**Condensed Consolidated Balance Sheets**

**(in thousands, except share and per share data, unaudited)**

---

| | | |
|:---|:---|:---|
| | **April 30,<br>2026** | **January 31,<br>2026** |
| **Assets** | | |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $95779 | $141564 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted cash | 400 | 400 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net of allowance of $14,000 as of April 30, 2026 and $16,000 as of January 31, 2026 | 80555 | 86132 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | 203596 | 214903 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 20735 | 19028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 401065 | 462027 |
| Property and equipment, net | 22437 | 24665 |
| Intangible assets, net | 56664 | 60534 |
| Operating lease right-of-use assets | 9518 | 11450 |
| Goodwill | 225767 | 227938 |
| Other assets | 5538 | 5631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $**720989** | $**792245** |
| **Liabilities and Stockholders' Equity (Deficit)** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $77885 | $90094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued and other current liabilities | 137122 | 141723 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 119072 | 119381 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt, current | 15598 | 32371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 349677 | 383569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue, noncurrent | 129575 | 131200 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt, noncurrent | 224135 | 228480 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | 9504 | 10677 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax liabilities | 12358 | 13038 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other long-term liabilities | 4842 | 3982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | **730091** | **770946** |
| Commitments and contingencies (Note 7) |  |  |
| Stockholders' equity (deficit): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock: $0.0001 par value; 1,000,000,000 shares authorized as of each of April 30, 2026 and January 31, 2026; 25,897,631 and 24,316,597 shares issued and outstanding as of April 30, 2026 and January 31, 2026, respectively | 2 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of each of April 30, 2026 and January 31, 2026; zero shares issued and outstanding as of April 30, 2026 and January 31, 2026 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 2145153 | 2128764 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | 582 | 4168 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (2154839) | (2111635) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity (deficit) | (9102) | 21299 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and stockholders' equity (deficit)** | $**720989** | $**792245** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**ChargePoint Holdings, Inc.**

**Condensed Consolidated Statements of Operations**

**(in thousands, except share and per share data, unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three months ended April 30,** | **Three months ended April 30,** |
| | **2026** | **2025** |
| **Revenue** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Networked Charging Systems | $53307 | $52059 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subscriptions | 40775 | 38020 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 7737 | 7561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 101819 | 97640 |
| **Cost of revenue** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Networked Charging Systems | 48954 | 48638 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subscriptions | 17920 | 15366 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 5323 | 5650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cost of revenue | 72197 | 69654 |
| **Gross profit** | 29622 | 27986 |
| **Operating expenses** |  |  |
| Research and development | 35597 | 33510 |
| Sales and marketing | 23594 | 26192 |
| General and administrative | 17585 | 22124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 76776 | 81826 |
| **Loss from operations** | (47154) | (53840) |
| Interest income | 336 | 1164 |
| Interest expense | (274) | (6436) |
| Other income, net | 5096 | 2613 |
| **Net loss before income taxes** | (41996) | (56499) |
| Provision for income taxes | 1208 | 622 |
| **Net loss** | $(43204) | $(57121) |
| Weighted average shares outstanding - Basic and Diluted <sup>(1)</sup> | 24630127 | 22952278 |
| Net loss per share - Basic and Diluted <sup>(1)</sup> | $(1.75) | $(2.49) |

---

<sup>(1)</sup> Amounts have been adjusted to reflect 1-for-20 reverse stock split that became effective on July 28, 2025. See Note 1, "*Description of Business and Basis of Presentation*" for additional details.

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**ChargePoint Holdings, Inc.**

**Condensed Consolidated Statements of Comprehensive Loss**

**(in thousands, unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three months ended April 30,** | **Three months ended April 30,** |
| | **2026** | **2025** |
| Net loss | $(43204) | $(57121) |
| Other comprehensive income: |  |  |
| &nbsp;&nbsp;Foreign currency translation adjustment | (3586) | 20112 |
| Other comprehensive income (loss) | (3586) | 20112 |
| Comprehensive loss | $(46790) | $(37009) |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**ChargePoint Holdings, Inc.**

**Condensed Consolidated Statements of Stockholders' Equity (Deficit)**

**(in thousands, except share data, unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Common Stock** | **Common Stock** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Income (Loss)** | **Accumulated**<br>**Deficit** | **Total Stockholders' Equity (Deficit)** |
| | **Shares** | **Amount** | **Additional Paid-In Capital** | **Accumulated Other Comprehensive Income (Loss)** | **Accumulated**<br>**Deficit** | **Total Stockholders' Equity (Deficit)** |
| **Balances as of January 31, 2026** | 24316597 | $2 | $2128764 | $4168 | $(2111635) | $21299 |
| Issuance of common stock under stock plans, net of tax withholding | 281530 |  | (44) |  |  | (44) |
| Issuance of common stock upon ESPP purchase | 99562 |  | 472 |  |  | 472 |
| Issuance of common stock in connection with Interest Shares | 1199942 |  | 6573 |  |  | 6573 |
| Stock-based compensation |  |  | 9388 |  |  | 9388 |
| Net loss |  |  |  |  | (43204) | (43204) |
| Other comprehensive loss |  |  |  | (3586) |  | (3586) |
| **Balances as of April 30, 2026** | **25897631** | $**2** | $**2145153** | $**582** | $**(2154839)** | $**(9102)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Common Stock** <sup>(1)</sup> | **Common Stock** <sup>(1)</sup> | **Additional Paid-In Capital** <sup>(1)</sup> | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Equity** |
| | **Shares** | **Amount** | **Additional Paid-In Capital** <sup>(1)</sup> | **Accumulated Other Comprehensive Loss** | **Accumulated Deficit** | **Total Stockholders' Equity** |
| **Balances as of January 31, 2025** | 22805115 | $2 | $2054340 | $(25433) | $(1891438) | $137471 |
| Issuance of common stock under stock plans, net of tax withholding | 175317 |  | 19 |  |  | 19 |
| Issuance of common stock upon ESPP purchase | 101976 |  | 1269 |  |  | 1269 |
| Stock based compensation |  |  | 16838 |  |  | 16838 |
| Net loss |  |  |  |  | (57121) | (57121) |
| Other comprehensive income |  |  |  | 20112 |  | 20112 |
| **Balances as of April 30, 2025** | **23082408** | $**2** | $**2072466** | $**(5321)** | $**(1948559)** | $**118588** |

---

<sup>(1)</sup> Amounts have been adjusted to reflect 1-for-20 reverse stock split that became effective on July 28, 2025. See Note 1, "*Description of Business and Basis of Presentation*" for additional details.

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**ChargePoint Holdings, Inc.**

**Condensed Consolidated Statements of Cash Flows**

**(in thousands, unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>April 30,** | **Three Months Ended<br>April 30,** |
| | **2026** | **2025** |
| **Cash flows from operating activities** |  |  |
| Net loss | $(43204) | $(57121) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;Depreciation and amortization | 6332 | 6928 |
| &nbsp;&nbsp;Non-cash operating lease cost | 837 | 876 |
| &nbsp;&nbsp;Stock-based compensation | 10595 | 17863 |
| &nbsp;&nbsp;Amortization of deferred contract acquisition costs | 780 | 844 |
| &nbsp;&nbsp;Paid-in-kind non-cash interest expense | 387 | 9397 |
| &nbsp;&nbsp;Foreign currency transactions (gain) loss | 321 | (3499) |
| &nbsp;&nbsp;Reserves and other | (9538) | 1644 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 5470 | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 15749 | 2816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (2486) | (10703) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable, operating lease liabilities, and accrued and other liabilities | (20331) | (6418) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | (1472) | 4418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (36560) | (32968) |
| **Cash flows from investing activities** |  |  |
| Purchases of property and equipment | (1137) | (1060) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (1137) | (1060) |
| **Cash flows from financing activities** |  |  |
| Repayment of borrowings | (9625) |  |
| Proceeds from the issuance of common stock under employee equity plans, net of tax withholding | 428 | 1288 |
| Change in driver funds and amounts due to customers | 1643 | 1149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash (used in) provided by financing activities | (7554) | 2437 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (534) | 2969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net decrease in cash, cash equivalents, and restricted cash | (45785) | (28622) |
| Cash, cash equivalents, and restricted cash at beginning of period | 141964 | 224971 |
| Cash, cash equivalents, and restricted cash at end of period | $96179 | $196349 |
| **Supplementary cash flow information** |  |  |
| Cash paid for interest | $— | $150 |
| Cash paid for taxes | $767 | $1419 |
| **Supplementary cash flow information on noncash investing and financing activities** |  |  |
| Acquisitions of property and equipment included in accounts payable and accrued and other current liabilities | $452 | $95 |
| Issuance of Common Stock for contractual Interest Shares\* | $6573 | $— |
| Non-cash adjustment to right-of-use asset due to reorganization | $(1040) | $— |

---

\*Refer to Note 6, *Debt*

The accompanying notes are an integral part of these condensed consolidated financial statements.

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

**1. Description of Business and Basis of Presentation**

ChargePoint Holdings, Inc. ("ChargePoint" or the "Company," or "it," or "its") designs, develops and markets networked electric vehicle ("EV") charging system infrastructure ("Networked Charging Systems"), connected through cloud-based-software services (the "ChargePoint Platform") which (i) enable charging system owners, or hosts, to manage their Networked Charging Systems, and (ii) enable drivers to locate, reserve and authenticate Networked Charging Systems, and to transact EV charging sessions on those systems. ChargePoint's Networked Charging Systems, subscriptions and other offerings provide an open platform that integrates with system hardware from ChargePoint and other manufacturers, connecting systems over an intelligent network that provides real-time information about charging sessions and full control, support and management of the Networked Charging Systems. This network also provides multiple web-based portals for charging system owners, fleet managers, drivers and utilities. In addition, the Company offers a range of extended warranties ("Assure").

The Company's fiscal year ends on January 31. References to fiscal year 2026 relate to the fiscal year ended January 31, 2026 and to fiscal year 2027 refer to the fiscal year ending January 31, 2027.

**Basis of Presentation**

The condensed consolidated financial statements and accompanying notes are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and regulations of the U.S. Securities and Exchange Commission ("SEC") for interim financial reporting. The Company's condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the year ended January 31, 2026 included in the Company's Annual Report on Form 10-K filed with the SEC on April 2, 2026, which provides a more complete discussion of the Company's accounting policies and certain other information. The information as of January 31, 2026, included on the condensed consolidated balance sheets was derived from the Company's audited consolidated financial statements. The condensed consolidated financial statements were prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments necessary for a fair statement of the Company's financial position as of April 30, 2026, the results of operations for the three months ended April 30, 2026 and 2025, and cash flows for the three months ended April 30, 2026 and 2025. The results of operations for the three months ended April 30, 2026, are not necessarily indicative of the results that may be expected for the year ending January 31, 2027.

The Company's condensed consolidated financial statements have been prepared on the basis of continuity of operations, the realization of assets, and the satisfaction of liabilities in the ordinary course of business. Since inception, the Company has been engaged in developing and marketing its Networked Charging Systems, subscriptions and other offerings, raising capital, and recruiting personnel, and it has incurred net operating losses and negative cash flows from operations in every year since inception and expects this to continue for the foreseeable future. As of April 30, 2026, the Company had an accumulated deficit of $2,154.8 million.

The Company's principal sources of liquidity are its cash and cash equivalents, cash generated from sales to customers, debt financing (as described in Note 6, *Debt),* and sales of Common Stock. The Company had cash, cash equivalents and restricted cash of $96.2 million as of April 30, 2026. Cash outflow from operations was $36.6 million and $33.0 million for the three months ended April 30, 2026 and 2025, respectively. As of the date on which these condensed consolidated financial statements were issued, the Company believes that its cash on hand, together with cash generated from sales to customers, will satisfy its working capital and capital requirements for at least the next twelve months following the issuance of the condensed consolidated financial statements. The Company's assessment of the period of time its financial resources will be adequate to support its operations is a forward-looking statement and involves risks and uncertainties. The Company's actual results could vary as a result of, and its near- and long-term future capital requirements will depend on, many factors, including its growth rate, subscription renewal activity, the timing and extent of spending to support its acquisitions, infrastructure and research and development efforts, the expansion of sales and marketing activities, the timing of new introductions of products or features, the continuing market adoption of its Networked Charging Systems and ChargePoint Platform, and the overall market acceptance of EVs. The Company has and may in the future enter into arrangements to acquire or invest in complementary businesses,

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

services and technologies, including intellectual property rights. The Company has based its estimates on assumptions that may prove to be wrong, and it could use its available capital resources sooner than it currently expects. The Company may be required to seek additional equity or debt financing. Future liquidity and cash requirements will depend on numerous factors, including market penetration, the introduction of new products, and potential acquisitions of related businesses or technology. If additional financing is required from outside sources, the Company may not be able to raise it on acceptable terms or at all. If the Company is unable to raise additional capital when desired, or if it cannot expand its operations or otherwise capitalize on its business opportunities because it lacks sufficient capital, the Company may need to reorganize its operations including through further reductions in its workforce and its business, operating results and financial condition would be materially adversely affected.

**Reverse Stock Split**

On July 28, 2025, the Company effected a 1-for-20 reverse stock split of the Company's Common Stock (the "Reverse Stock Split"). As a result of the Reverse Stock Split, every 20 shares of the Company's Common Stock issued and outstanding were automatically reclassified into one new share of Common Stock. Proportionate adjustments were also made to (i) the exercise prices, share based vesting criteria and the number of shares underlying the Company's outstanding equity awards, as applicable, (ii) the number of shares issuable under the Company's equity incentive plans and certain existing agreements, (iii) the number of shares purchasable upon exercise, and/or the exercise prices, of the Company's outstanding warrants to purchase shares of the Company's Common Stock and (iv) the conversion rate of the Company's convertible notes in accordance with the indenture governing the convertible notes. The Reverse Stock Split did not decrease the number of authorized shares of Common Stock and preferred stock or otherwise affect the par value of the Common Stock. No fractional shares were issued in connection with the Reverse Stock Split and any fractional shares resulting from the Reverse Stock Split were rounded down to the nearest whole share. Stockholders who were otherwise entitled to receive fractional shares as a result of the Reverse Stock Split were paid cash in lieu thereof. All shares of the Company's Common Stock, per-share data and related information included in the accompanying condensed consolidated financial statements have been retroactively adjusted as though the Reverse Stock Split had been effected prior to all periods presented.

**2. Summary of Significant Accounting Policies**

Other than policies noted below, there have been no significant changes to the significant accounting policies disclosed in Note 2 of the audited consolidated financial statements as of January 31, 2026 and 2025 and for the years ended January 31, 2026, 2025 and 2024 included in ChargePoint's Annual Report on Form 10-K filed with the SEC on April 2, 2026.

**Use of Estimates**

The preparation of the accompanying condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company's estimates, judgments and assumptions. Significant estimates include determining standalone selling price for performance obligations in contracts with customers, the estimated expected benefit period for deferred contract acquisition costs, allowances for expected credit losses, inventory reserves, the useful lives of long-lived assets, the determination of the incremental borrowing rate used for operating lease liabilities, valuation of acquired goodwill and intangible assets, the fair value of equity instruments and assumptions used to measure stock-based compensation, and the valuation of deferred income tax assets and uncertain tax positions. These estimates and assumptions are based on management's best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions.

**Concentration of Credit Risk and Other Risks and Uncertainties**

Financial instruments that potentially subject the Company to credit risk consist primarily of cash and cash equivalents, and accounts receivable. Cash and cash equivalents are held in domestic and foreign cash accounts across large, creditworthy

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

financial institutions. The Company has not experienced any losses on its deposits of cash and cash equivalents through deposits with federally insured commercial banks and at times cash balances may be in excess of federal insurance limits.

Accounts receivable are stated at the amount the Company expects to collect. The Company generally does not require collateral or other security in support of accounts receivable. To reduce credit risk, management performs ongoing credit evaluations of its customers' financial condition.

Concentration of credit risk with respect to trade accounts receivable is considered to be limited due to the diversity of the Company's customer base and geographic sales areas. As of April 30, 2026, one customer, a channel partner, individually accounted for 14% of total accounts receivable, net. As of January 31, 2026, one customer, a channel partner, individually accounted for 14% of accounts receivable, net. For the three months ended April 30, 2026, one customer individually represented 16% of total revenue. For the three months ended April 30, 2025, one customer individually represented 13% of total revenue.

The Company's revenue is concentrated in the infrastructure needed for charging EVs, an industry which is highly competitive and rapidly changing. Significant technological changes within the industry or customer requirements, or the emergence of competitive products with new capabilities or technologies, could adversely affect the Company's operating results.

**Segment Reporting**

Operating segments are defined as components of an entity where discrete financial information is evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. The Company operates as one operating segment. Accordingly, its CODM, who is its Chief Executive Officer, uses consolidated net income or loss to measure segment profit or loss for purposes of making decisions regarding allocating resources and assessing Company performance. In addition, the CODM reviews the significant expenses, categorized as cost of sales and each major operating expense category (i.e., research and development, sales and marketing, and general and administrative) using consolidated amounts presented in the Condensed Consolidated Statements of Operations. The Company has no segment managers who are held accountable by the CODM for operations, operating results, and planning for levels of components below the consolidated unit level.

**Cash, Cash Equivalents, and Restricted Cash**

The Company considers all highly liquid investments with an original maturity of three months or less, when purchased, to be cash equivalents. Cash equivalents may be invested in money market funds. Cash and cash equivalents are carried at cost, which approximates their fair value.

Restricted cash relates to cash deposits restricted under letters of credit issued in support of customer and contract manufacturer agreements.

The reconciliation of cash, cash equivalents, and restricted cash to amounts presented in the condensed consolidated statements of cash flows were as follows:

---

| | | |
|:---|:---|:---|
| | **April 30,<br>2026** | **January 31,<br>2026** |
| | **(in thousands)** | **(in thousands)** |
| Cash and cash equivalents | $95779 | $141564 |
| Restricted cash | 400 | 400 |
| **Total cash, cash equivalents, and restricted cash** | $**96179** | $**141964** |

---

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

**Fair Value of Financial Instruments**

Fair value is defined as an exchange price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Assets and liabilities measured at fair value are classified into the following categories based on the inputs used to measure fair value:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• (Level 1) — Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• (Level 2) — Inputs other than quoted prices in active markets that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• (Level 3) — Inputs that are unobservable for the asset or liability.

The Company classifies financial instruments in Level 3 of the fair value hierarchy when there is reliance on at least one significant unobservable input to the valuation model. In addition to these unobservable inputs, the valuation models for Level 3 financial instruments typically also rely on a number of inputs that are readily observable, either directly or indirectly. The Company's assessment of a particular input to the fair value measurement requires management to make judgments and consider factors specific to the asset or liability. The fair value hierarchy requires the use of observable market data when available in determining fair value. The Company recognizes transfers between levels within the fair value hierarchy, if any, at the end of each period. There were no transfers between levels during the periods presented. The Company had no material non-financial assets valued on a non-recurring basis that resulted in an impairment in any period presented.

The carrying values of the Company's cash equivalents, accounts receivable, net, accounts payable, and accrued and other current liabilities approximate fair value based on the highly liquid, short-term nature of these instruments. Certain assets, including goodwill and other intangible assets, which are measured at fair value on a non-recurring basis and are adjusted to fair value only if an impairment charge is recognized. The categorization of the framework used to measure fair value of the assets is considered to be within the Level 3 valuation hierarchy due to the subjective nature of the unobservable inputs used.

As of April 30, 2026 and January 31, 2026, there were no assets or liabilities that were measured at fair value on a recurring basis.

**Revenue Recognition**

ChargePoint accounts for revenue in accordance with ASC 606, *Revenue from Contracts with Customers* ("ASC 606"). The Company's contracts with customers typically include multiple performance obligations - Networked Charging Systems hardware, software subscriptions, extended maintenance, and professional services. For further details on the Company's revenue recognition policies, including the Company's significant judgments in identifying performance obligations and estimating standalone selling prices, refer to Note 2 in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2026.

*Networked Charging Systems revenue*

Networked Charging Systems revenue includes revenue related to the deliveries of EV charging system infrastructure and fees received for transferring regulatory credits earned for participating in low carbon fuel programs in jurisdictions with such programs. The Company recognizes revenue from sales of Networked Charging Systems upon shipment to customers, including distributors, resellers or direct sales customers, as these customers obtain title and control over these products. Revenue is adjusted for estimated returns. Revenue from regulatory credits is recognized at the point in time the regulatory credits are transferred.

*Subscriptions revenue*

Subscriptions revenue consists of services related to the ChargePoint Platform, as well as extended maintenance service plans under Assure. Subscriptions revenue is recognized over time on a straight-line basis as the Company has a stand-ready obligation to deliver such services to the customer.

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

Subscriptions revenue also consists of ChargePoint as a Service ("CPaaS") revenue, which combines the customer's use of the Company's owned and operated Networked Charging Systems with the ChargePoint Platform and Assure programs into a single subscription. CPaaS subscriptions are considered for accounting purposes to contain a lease for the customer's use of the Company's owned and operated systems unless the location allows the Company to receive incremental economic benefit from regulatory credits earned on that owned and operated system. The leasing arrangements the Company enters into with lessees are operating leases. The Company recognizes operating lease revenue on a straight-line basis over the lease term and expenses deferred initial direct costs on the same basis. Lessor revenue relates to operating leases and historically has not been material.

*Other revenue*

Other revenue consists of charging related fees received from drivers using charging sites owned and operated by the Company, net transaction fees earned for processing payments collected on driver charging sessions at charging sites owned by ChargePoint customers, and other professional services. Revenue from fees for owned and operated sites is recognized over time on a straight-line basis over the performance period of the service contract as the Company has a stand-ready obligation to deliver such services. Revenue from driver charging sessions and charging transaction fees is recognized at the point in time the charging session or transaction is completed. Revenue from professional services is recognized as the services are rendered.

**Recent Accounting Pronouncements**

*Recently Adopted Accounting Standards*

In November 2024, the FASB issued Accounting Standard Update (ASU) 2024-04, "*Induced Conversions of Convertible Debt Instruments"*, which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. This ASU is effective for fiscal years beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. The Company adopted ASU 2024-04 as of February 1, 2026, on a prospective basis, and it did not have a material impact on the condensed consolidated financial statements.

In July 2025, the FASB issued ASU 2025-05, "*Financial Instruments - Credit Losses* (Topic 326): *Measurement of Credit Losses for Accounts Receivable and Contract Assets*. This amendment introduces a practical expedient for the application of the current expected credit loss ("CECL") model to current accounts receivable and contract assets. The amendment is effective for annual reporting periods beginning after December 15, 2025 and interim periods within those annual reporting periods on a prospective basis, with early adoption permitted. The Company adopted ASU 2025-05 as of February 1, 2026 and elected to utilize the practical expedient. The adoption of ASU 2025-05 and the election of the practical expedient did not have a material impact on the condensed consolidated financial statements.

*Recent Accounting Pronouncements Not Yet Adopted*

In November 2024, the FASB issued ASU No. 2024-03, "*Disaggregation of Income Statement Expenses*," ("ASU 2024-03"), which requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement, as well as disclosures about selling expenses. The guidance is effective for public business entities for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The requirements will be applied prospectively with the option for retrospective application. Early adoption is permitted. The Company is currently assessing the impact of adopting this standard on the condensed consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU 2025-06, "*Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40)"*, which aims to modernize the accounting for internal-use software costs by eliminating references to software development stages and introducing a new threshold for capitalization. Under the updated guidance, capitalization begins when (1) management authorizes and commits to funding the project and (2) it is probable that the project will be completed and the software will be used for its intended purpose. The ASU also provides enhanced guidance on evaluating the "probable-to-complete" threshold and consolidates website development cost guidance into Subtopic 350-40. This ASU will be effective for annual reporting periods beginning after December 15, 2027, and interim periods within those annual periods, with early adoption permitted. The amendments may be applied prospectively, retrospectively, or using a modified basis for in-process projects The Company is currently evaluating the impact of this amendment on the condensed consolidated financial statements and related disclosures.

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

In May 2026, the FASB issued ASU 2026-02, "*Environmental Credits and Environmental Credit Obligations (Topic 818)"*, which establishes recognition, measurement, presentation, and disclosure requirements for environmental credits and related environmental credit obligations. The guidance is effective for public business entities for annual reporting periods beginning after December 15, 2027 and interim reporting periods within those annual reporting periods. The requirements will be applied retrospectively. Early adoption is permitted. The Company is currently assessing the impact of adopting this standard on the condensed consolidated financial statements and related disclosures.

**3. Goodwill and Intangible Assets**

The following table summarizes the changes in carrying amounts of goodwill (in thousands):

---

| | |
|:---|:---|
| **Balance as of January 31, 2026** | $**227938** |
| &nbsp;&nbsp;Foreign exchange fluctuations | (2171) |
| **Balance as of April 30, 2026** | $**225767** |

---

There was no impairment recognized for the three months ended April 30, 2026 and 2025.

The following table presents the details of intangible assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30, 2026** | **April 30, 2026** | **April 30, 2026** | **April 30, 2026** |
| | **Cost** <sup>(1)</sup> | **Accumulated Amortization** <sup>(1)</sup> | **Net** <sup>(1)</sup> | **Useful Life** |
| | **(amounts in thousands, useful lives in years)** | **(amounts in thousands, useful lives in years)** | **(amounts in thousands, useful lives in years)** | **(amounts in thousands, useful lives in years)** |
| Customer relationships | $96621 | $(44400) | $52221 | 10 |
| Developed technology | 19305 | (14862) | 4443 | 6 |
|  | $**115926** | $**(59262)** | $**56664** |  |

---

_______________

<sup>(1)</sup> Values are translated into U.S. Dollars at period-end foreign exchange rates.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** | **January 31, 2026** |
| | **Cost** <sup>(1)</sup> | **Accumulated Amortization** <sup>(1)</sup> | **Net** <sup>(1)</sup> | **Useful Life** |
| | **(amounts in thousands, useful lives in years)** | **(amounts in thousands, useful lives in years)** | **(amounts in thousands, useful lives in years)** | **(amounts in thousands, useful lives in years)** |
| Customer relationships | $97681 | $(42442) | $55239 | 10 |
| Developed technology | 19476 | (14181) | 5295 | 6 |
|  | $**117157** | $**(56623)** | $**60534** |  |

---

_______________

<sup>(1)</sup> Values are translated into U.S. Dollars at period-end foreign exchange rates.

Amortization expense for customer relationships and developed technology is shown as sales and marketing and cost of revenue, respectively, in the condensed consolidated statements of operations. The acquired intangible assets and goodwill are subject to impairment review at least annually on December 31st.

Acquisition-related intangible assets included in the above table are finite-lived and are carried at cost less accumulated amortization. Intangible assets are being amortized on a straight-line basis over their estimated lives, which approximates the pattern in which the economic benefits of the intangible assets are expected to be realized.

The following table presents the amortization expense related to intangible assets:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>April 30,** | **Three Months Ended<br>April 30,** |
| | **2026** | **2025** |
| | **(in thousands)** | **(in thousands)** |
| Amortization expense | $3213 | $3041 |

---

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

**4. Composition of Certain Financial Statement Items**

**Inventories**

Inventories consisted of the following:

---

| | | |
|:---|:---|:---|
| | **April 30,<br>2026** | **January 31,<br>2026** |
| | **(in thousands)** | **(in thousands)** |
| Raw materials | $5133 | $6595 |
| Finished goods and components | 198463 | 208308 |
| **Total Inventories** | $**203596** | $**214903** |

---

**Prepaid expense and other current assets**

Prepaid expense and other current assets consisted of the following:

---

| | | |
|:---|:---|:---|
| | **April 30,<br>2026** | **January 31,<br>2026** |
| | **(in thousands)** | **(in thousands)** |
| Prepaid expense | $7506 | $5988 |
| Other current assets | 13229 | 13040 |
| **Total Prepaid Expense and Other Current Assets** | $**20735** | $**19028** |

---

**Property and Equipment, net**

Property and equipment, net consisted of the following:

---

| | | |
|:---|:---|:---|
| | **April 30,<br>2026** | **January 31,<br>2026** |
| | **(in thousands)** | **(in thousands)** |
| Machinery and equipment | $35578 | $35320 |
| Owned and operated systems | 24186 | 24437 |
| Tooling | 17639 | 17277 |
| Computers and software | 9546 | 9710 |
| Leasehold improvements | 8801 | 8823 |
| Furniture and fixtures | 1396 | 1409 |
| Construction in progress | 243 | 309 |
|  | 97389 | 97285 |
| Less: Accumulated depreciation | (74952) | (72620) |
| **Total Property and Equipment, Net** | $**22437** | $**24665** |

---

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

The following table presents the depreciation expense:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>April 30,** | **Three Months Ended<br>April 30,** |
| | **2026** | **2025** |
| | **(in thousands)** | **(in thousands)** |
| Depreciation expense | $3119 | $3887 |

---

**Accrued and Other Current Liabilities**

Accrued and other current liabilities consisted of the following:

---

| | | |
|:---|:---|:---|
| | **April 30,<br>2026** | **January 31,<br>2026** |
| | **(in thousands)** | **(in thousands)** |
| Accrued expenses | $39434 | $46184 |
| Customer funds | 20705 | 21043 |
| Taxes payable | 20932 | 21131 |
| Refundable customer deposits | 25102 | 24316 |
| Payroll and related expenses | 9210 | 8379 |
| Reserve for losses on non-cancellable purchase commitments | 7029 | 7029 |
| Other current liabilities | 14710 | 13641 |
| **Total Accrued and Other Current Liabilities** | $**137122** | $**141723** |

---

**Revenue**

Revenue consisted of the following:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>April 30,** | **Three Months Ended<br>April 30,** |
| | **2026** | **2025** |
| | **(in thousands)** | **(in thousands)** |
| United States | $69809 | $74874 |
| Canada | 11551 | 7935 |
| Rest of World | 20459 | 14831 |
| **Total revenue** | $**101819** | $**97640** |

---

**Deferred Revenue**

The following table shows the total deferred revenue for each period presented.

---

| | | |
|:---|:---|:---|
| | **April 30,<br>2026** | **January 31,<br>2026** |
| | **(in thousands)** | **(in thousands)** |
| Total deferred revenue | $248647 | $250581 |

---

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

The following table shows the revenue recognized that was included in the deferred revenue balance at the beginning of the period.

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>April 30,** | **Three Months Ended<br>April 30,** |
| | **2026** | **2025** |
| | **(in thousands)** | **(in thousands)** |
| Total deferred revenue recognized | $33613 | $31345 |

---

*Remaining Performance Obligations*

Remaining performance obligations represent the amount of contracted future revenue not yet recognized as the amounts relate to undelivered performance obligations, including both deferred revenue and non-cancellable contracted amounts that will be invoiced and recognized as revenue in future periods. Revenue expected to be recognized from remaining performance obligations was $256.9 million as of April 30, 2026, of which 49% is expected to be recognized over the next twelve months.

**5. Restructuring** 

*March 2026 Reorganization*

On March 31, 2026, the Company implemented a reorganization of its operations including a reduction of the Company's current global workforce of approximately 146 employees, or 10% of the Company's global workforce at the time (the "March 2026 Reorganization"). As a result, in the first quarter of fiscal year 2027, the Company incurred $7.3 million of employee severance, termination and employment-related exit costs and $1.0 million of facility exit costs.

The following table summarizes the charges by line item within the Company's condensed consolidated statements of operations for the quarter ended April 30, 2026:

---

| | | | |
|:---|:---|:---|:---|
| | **Severance and employment-related termination costs** | **Facility and other contract terminations** | **Total** |
| | **(in thousands)** | **(in thousands)** | **(in thousands)** |
| Cost of revenue | $730 | $— | $730 |
| Research and development | 4122 |  | 4122 |
| Sales and marketing | 1681 |  | 1681 |
| General and administrative | 786 | 1040 | 1826 |
| **Total** | $**7319** | $**1040** | $**8359** |

---

During the three months ended April 30, 2025, no restructuring charges were incurred.

As of April 30, 2026, $5.3 million in restructuring-related liabilities remained in accrued and other current liabilities in the condensed consolidated balance sheets. As of January 31, 2026, restructuring liabilities related to the September 2023 reorganization of $0.1 million remained in accrued and other current liabilities in the condensed consolidated balance sheets.

------

<u>[**Table of Contents**](#idcae0103baeb47faa6662769d18862ce_7)</u>

**ChargePoint, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

**6. Debt**

The following table presents a summary of debt, current and debt, noncurrent:

---

| | | | |
|:---|:---|:---|:---|
| | **Maturity** | **April 30,<br>2026** | **January 31,<br>2026** |
| | | **(in thousands)** | **(in thousands)** |
| **Debt, current** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 Senior Loan | January 2030 | $15598 | $32371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total debt, current |  | $15598 | $32371 |
| **Debt, noncurrent** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 Senior Loan | January 2030 | $212892 | $217692 |
| &nbsp;&nbsp;&nbsp;&nbsp;2028 Convertible Notes | April 2028 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross amount |  | 11811 | 11330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt discount and issuance costs |  | (568) | (542) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total 2028 Convertible Note |  | 11243 | 10788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total debt, noncurrent |  | $224135 | $228480 |

---

**2025 Senior Loan**

On November 14, 2025, the Company entered into a privately negotiated exchange agreement (the "Exchange Agreement") with certain holders (the "Exchanging Holders") of its outstanding 2028 Convertible Notes (as described below). Pursuant to the Exchange Agreement, the Company exchanged $328.6 million of aggregate capitalized principal amount of the 2028 Notes for the following consideration (the "Exchange Transaction"): (i) $186.5 million in aggregate principal loan amount (the "2025 Senior Loan") issued under a Credit and Security Agreement, dated November 14, 2025, by and among the Company, as parent, ChargePoint, Inc., a Delaware corporation and wholly owned subsidiary of the Company, as borrower (the "Borrower"), certain subsidiaries of the Company, as subsidiary guarantors (the "Subsidiary Guarantors"), the Exchanging Holders, and an administrative and collateral agent, as amended by Amendment No. 1 to Credit and Security Agreement, dated April, 23, 2026 (collectively, the "2025 Credit Agreement") (ii) $25.0 million in cash, and (iii) warrants to purchase up to 1,671,000 shares of the Company's Common Stock at an exercise price of $25.00 per share (the "2025 Warrants), as discussed in Note 9, *Stock Warrants*. ChargePoint did not receive any cash proceeds from the Exchange Transaction. Following the consummation of the Exchange Transaction, $11.3 million in capitalized principal amount of 2028 Convertible Notes remained outstanding.

The Exchange Transaction was accounted for under ASC 470-60 - Troubled Debt Restructurings by Debtors. The Company recorded a gain of $11.2 million, which resulted in a decrease of basic net loss per share of $0.48, during the year ended January 31, 2026 in its consolidated statement of operations. The gain was calculated as the difference between the carrying amount of the exchanged 2028 Convertible Notes and the undiscounted cash flows of the 2025 Senior Loan, adjusted for debt issuance costs. As a result, no interest expense will be recognized for the 2025 Senior Loan through the maturity date of January 31, 2030. The Company incurred issuance costs related to the 2025 Senior Loan of approximately $4.9 million which were recorded as a reduction to the gain on debt exchange on its consolidated statement of operations for the year ended January 31, 2026.

The Borrower's obligations under the 2025 Credit Agreement are guaranteed by the Company and the Subsidiary Guarantors. In addition, the 2025 Senior Loan is secured by (i) a first priority pledge of the equity securities of the Borrower and certain of its subsidiaries, subject to customary exceptions (including a 65% limitation on pledges of first-tier foreign subsidiary equity, except with respect to foreign subsidiaries in specified jurisdictions), and (ii) first priority security interests in substantially all current and after-acquired tangible and intangible personal property of the Borrower, the Company and each Subsidiary Guarantor, including intellectual property, in each case, subject to customary exclusions, permitted liens and other agreed limitations.

The 2025 Senior Loan matures on January 31, 2030, and the loans thereunder (the "Loans") do not amortize, except as described below. In accordance with the 2025 Credit Agreement, the Borrower was obligated to pay up to an aggregate of $30.0 million of the Loans (the "Short-Term Loans") in two equal installments originally due on November 24, 2025 and

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

February 16, 2026 (each such date, a "Prepayment Date"), pursuant to a formulaic repayment measure based on volume-weighted average price share of Common Stock for the thirty consecutive trading days preceding the applicable Prepayment Date. The Company made separate payments of $14.8 million and $9.6 million on the respective Prepayment Dates in connection with the repayment of the Short-Term Loans with resulting gains of $0.2 million and $5.4 million respectively reflected in other income. The remaining Loans of $156.5 million will bear interest at a fixed rate of 12% per annum, payable quarterly. All future interest payment obligations on the 2025 Senior Loans are included in the carrying value of the 2025 Senior Loans. As a result, future interest payments are reported as a reduction in the carrying value of the 2025 Senior Loans and not as interest expense. Interest recorded as debt, current was $15.6 million and $17.4 million in the Condensed Consolidated Balance Sheet as of April 30, 2026 and January 31, 2026, respectively. Interest recorded as debt, non-current was $56.4 million and $61.2 million in the Condensed Consolidated Balance Sheet as of April 30, 2026 and January 31, 2026, respectively.

For any interest payment date occurring on or prior to November 14, 2026, the Company may elect to pay interest in shares of common stock of the Company ("Interest Shares") in lieu of cash. Interest Shares will be valued based on the thirty-day trailing volume-weighted average price ("VWAP") preceding the applicable interest payment date. Issuance of Interest Shares is subject to a cap of 19.99% of the Company's outstanding shares to comply with NYSE listing requirements, unless stockholder approval is obtained. The Company issued 1,199,942 of shares of Common Stock valued $6.6 million in Interest Shares during the three months ended April 30, 2026.

The 2025 Credit Agreement permits the Borrower to make voluntary prepayments at its discretion. On or prior to the second anniversary of the closing date, voluntary principal payments in respect of the Loans and mandatory principal payments in connection with any acceleration of the Loans will be subject to a customary make-whole premium based on the yield on U.S. Treasury notes with a maturity closest to the second anniversary of the closing date plus 50 basis points. Thereafter, principal payments in respect of such Loans will be subject to a premium equal to 2.00% after the second anniversary of the closing date and on or prior to the third anniversary of the closing date and 0.00% thereafter. Notwithstanding the foregoing, any principal payments in respect of such Loans made in connection with a "change of control" may be prepaid at (1) 3.00% on or prior to the second anniversary of the closing date, (2) 2.00% after the second anniversary of the closing date and on or prior to the third anniversary of the closing date and (3) 0.00% thereafter.

The 2025 Credit Agreement also requires the Borrower to apply net cash proceeds from certain asset dispositions, in excess of an aggregate threshold of $25.0 million and subject to customary exceptions, to prepay outstanding Loans under the 2025 Senior Loan facility or other indebtedness that ranks pari passu in right of payment and security with the 2025 Credit Agreement. Such prepaid amounts in the 2025 Credit Agreement may not be re-borrowed.

The 2025 Credit Agreement contains (i) customary affirmative and negative covenants that, among other things, restrict the ability of the Company and its subsidiaries to incur additional indebtedness, incur liens, make investments or acquisitions, declare or pay dividends or other restricted payments, dispose of assets, or enter into transactions with affiliates and (ii) customary events of default, including a cross-default to material indebtedness and bankruptcy-related triggers. In addition, the 2025 Credit Agreement requires the Borrower to maintain minimum liquidity of $25.0 million, tested on the last business day of each fiscal month commencing on November 30, 2025. Liquidity includes unrestricted cash and cash equivalents held by the Credit Parties and up to $10.0 million in unused commitments under any revolving credit facility.

As of April 30, 2026, the estimated fair value of the 2025 Senior Loan was $144.3 million, using Level 2 fair value inputs. The fair value of the 2025 Senior Loan is estimated using a binomial lattice model that is primarily affected by market interest rates.

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

**2028 Convertible Notes**

The following table presents the Company's interest expense related to convertible debt:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>April 30,** | **Three Months Ended<br>April 30,** |
| | **2026** | **2025** |
| | **(in thousands)** | **(in thousands)** |
| ***2028 Convertible Notes*** |  |  |
| &nbsp;&nbsp;Interest expense for Cash Interest and PIK Interest | $301 | $8602 |
| &nbsp;&nbsp;PIK Fair Value Adjustment | (94) | (3895) |
| &nbsp;&nbsp;Amortization of debt discount and issuance costs | 67 | 1354 |
| **Total interest expense** | $**274** | $**6061** |

---

In April 2022, the Company completed a private placement of $300.0 million aggregate principal amount of unsecured Convertible Senior PIK Toggle Notes (the "Original Convertible Notes"), the terms of which were amended in October 2023, as described below (the "Notes Amendment"). Prior to the Notes Amendment, the maturity date of the Original Convertible Notes was April 1, 2027. The Original Convertible Notes were sold in a private placement in reliance on the exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act") provided by Section 4(a)(2) of the Securities Act.

The Original Convertible Notes bore interest at 3.50% per annum, to the extent paid in cash ("Cash Interest"), or 5.00% per annum, to the extent paid in kind through the issuance of additional Original Convertible Notes ("PIK Interest"). Interest is payable semi-annually in arrears on April 1st and October 1st of each year, beginning on October 1, 2022. The Company can elect to make any interest payment through Cash Interest, PIK Interest or any combination thereof.

The Original Convertible Notes are convertible, based on the applicable conversion rate, into cash, shares of the Company's Common Stock or a combination thereof, at the Company's election. The initial conversion rate was 2.0806 shares per $1,000 principal amount of the Original Convertible Notes, subject to customary anti-dilution in certain circumstances, which represented an initial conversion price of approximately $480.63 per share.

Under the terms of the Original Convertible Notes, prior to January 1, 2027, the Original Convertible Notes will be convertible at the option of the holders only upon the occurrence of specified events and during certain periods, and will be convertible on or after January 1, 2027, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date of the Original Convertible Notes.

Holders of the Original Convertible Notes may convert all or a portion of their Original Convertible Notes prior to the close of business on January 1, 2027, only under the following circumstances:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• during any calendar quarter commencing after the calendar quarter ended on September 30, 2022, if the Company's closing Common Stock price for at least 20 trading days out of the most recent 30 consecutive trading days of the preceding calendar quarter is greater than or equal to 130% of the current conversion price of the Original Convertible Notes on each applicable trading day;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• during the five business day period after any ten consecutive trading days in which, if the trading price per $1,000 principal amount of Original Convertible Notes for each trading day of such ten consecutive trading day period is less than 98% of the product of the Company's closing Common Stock price and the conversion rate of the Original Convertible Notes on each such trading day;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if the Company calls the Original Convertible Notes for redemption, at any time prior to the close of business on the second business day immediately preceding the redemption date; or

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• upon the occurrence of specified corporate events, including certain distributions, the occurrence of a fundamental change or a transaction resulting in the Company's Common Stock converting into other securities or property or assets.

The Original Convertible Notes will be redeemable, in whole or in part, at the Company's option at any time on or after April 21, 2025, and before the 41st scheduled trading day immediately before the maturity date. The redemption price will be equal to the aggregate principal amount of the Original Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. In addition, a holder may elect to convert its Original Convertible Notes during any such redemption period, in which case the applicable conversion rate may be increased in certain circumstances if the Original Convertible Notes are converted after they are called for redemption.

Additionally, if the Company undergoes a fundamental change or a change in control transaction (each such term as defined in the indenture governing the Original Convertible Notes), subject to certain conditions, holders may require the Company to purchase for cash all or any portion of their Original Convertible Notes. The fundamental change repurchase price will be 100% of the capitalized principal amount of the Original Convertible Notes, while the change in control repurchase price will be 125% of the capitalized principal amount of the Original Convertible Notes to be purchased, in each case plus any accrued and unpaid interest to, but excluding, the repurchase date.

The indenture governing the Original Convertible Notes includes a restrictive covenant that, subject to specified exceptions, limits the ability of the Company and its subsidiaries to incur secured debt in excess of $750.0 million. In addition, the indenture governing the Original Convertible Notes contains customary terms and covenants, including certain events of default in which case either the trustee or the holders of at least 25% of the aggregate principal amount of the outstanding Original Convertible Notes may declare 100% of the principal of, and accrued and unpaid interest, if any, on, all the Original Convertible Notes to be due and payable immediately.

On October 24, 2023, the Original Convertible Notes were amended to (1) extend the maturity date from April 1, 2027 to April 1, 2028, (2) increase the Cash Interest rate to 7.0% from 3.5% and PIK Interest rate to 8.5% from 5.0%, (3) increase the initial conversion rate to 4.1667 shares per $1,000 principal amount of the convertible notes from 2.0806 shares per $1,000 principal amount of the convertible notes, which represented a revised initial conversion price of approximately $240.00 per share, and (4) revise the make-whole table to reflect the revised terms of the convertible notes (herein, "2028 Convertible Notes"). Other than those previously stated, the terms of the 2028 Convertible Notes are not substantially different from the terms of Original Convertible Notes. The convertible note conversion rates and conversion price amounts presented in this paragraph have been updated to reflect the Reverse Stock Split as discussed in Note 1, *Description of Business and Basis of Presentation*.

Interest is payable semi-annually on April 1 and October 1 and may be paid in cash, additional notes or a combination thereof. The notes are convertible into cash, shares of Common Stock, or a combination thereof at the Company's election, subject to customary conversion conditions and anti-dilution adjustments. The indenture governing the notes contains customary events of default and restrictions on the occurrence of certain secured indebtedness.

During the three months ended April 30, 2026, the Company elected the option of PIK Interest through the issuance of additional Original Convertible Notes of $0.5 million. On the date of issuance, the total fair value of the PIK notes issued in the first quarter of fiscal year 2027, measured using Level 2 inputs, was $0.4 million, which represented a debt discount of $0.1 million, which will be amortized to interest expense over the contractual term of the note.

As of April 30, 2026, the aggregate principal amount of $11.8 million of the 2028 Convertible Notes remained outstanding.

Amortization of debt discount and issuance costs is reported as a component of interest expenses and is computed using the straight-line method over the term of the 2028 Convertible Notes, which approximates the effective interest method. As of April 30, 2026, the effective interest rate on the 2028 Convertible Notes was approximately 9.8%.

The estimated fair value of the 2028 Convertible Notes, valued using Level 2 fair value inputs, as of April 30, 2026 and January 31, 2026 was $9.8 million and $9.4 million, respectively.

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

**2027 Revolving Credit Facility**

On July 27, 2023, the Company entered into a revolving credit agreement by and among the Company, ChargePoint, Inc. (the "Former Borrower"), certain subsidiaries of the Former Borrower as guarantors, JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto (the "Former Credit Agreement"). The Former Credit Agreement provided for a senior secured revolving credit facility in an initial aggregate principal amount of up to $150.0 million, with a maturity date of January 1, 2027 (the "2027 Revolving Credit Facility"). Pursuant to the Former Credit Agreement, the Former Borrower was permitted from time to time to arrange for one or more increases in the commitments under the 2027 Revolving Credit Facility in an aggregate principal amount not to exceed $150.0 million, subject to obtaining the consent of the lenders participating in any such increase. Up to $100.0 million of the 2027 Revolving Credit Facility was permitted to be used for the issuance of letters of credit.

On November 14, 2025, the Company terminated the 2027 Revolving Credit Facility in connection with the Exchange Transaction and accordingly, as of January 31, 2026, the Former Borrower had no borrowings or letters of credit outstanding under the Former Credit Agreement. The Company recognized amortization of debt issuance costs and commitment fees in the amount of $0.2 million each for the three months ended April 30, 2025.

**7. Commitments and Contingencies**

**Purchase Commitments**

Open purchase commitments are for the purchase of goods and services related to, but not limited to, manufacturing, facilities and professional services under non-cancellable contracts. They were not recorded as liabilities on the condensed consolidated balance sheets as of April 30, 2026, as the Company had not yet received the related goods or services.

**Legal Proceedings**

The Company may be involved from time to time in various lawsuits, claims, and proceedings, including intellectual property, commercial, securities, and employment matters that arise in the normal course of business. The Company accrues a liability when management believes information available prior to the issuance of the condensed consolidated financial statements indicates it is probable a loss has been incurred as of the date of the condensed consolidated financial statements and the amount of loss can be reasonably estimated. The Company adjusts its accruals to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. Legal costs are expensed as incurred.

*Class Action Litigation*

A class action lawsuit alleging violations of federal securities laws was filed on November 29, 2023 in the U.S. District Court for the Northern District of California (the "NorCal Court") against the Company and certain of its former officers (the "Class Defendants"). A second class action lawsuit (together with the November 2023 Class Action, the "Class Actions") was filed against the Class Defendants on January 22, 2024. On May 16, 2024, the NorCal Court consolidated the Class Actions into one action captioned Khan v. ChargePoint Holdings, Inc., et al., Case No. 23-cv-06172-NW, appointed two lead plaintiffs ("Lead Plaintiffs"), and appointed lead counsel. On July 19, 2024, Lead Plaintiffs filed a Consolidated Amended Complaint which purported to be on behalf of purchasers of the Company's stock between December 7, 2021 and November 16, 2023. This Consolidated Amended Complaint alleged that the Class Defendants made materially false and misleading statements in violation of Section 10(b) and Rule 10b-5(b) of the Securities Exchange Act of 1934, as amended ("Exchange Act") regarding, (1) ChargePoint's handling of supply chain disruptions; (2) ChargePoint's revenue; and (3) the value of ChargePoint's inventory. Lead Plaintiffs also alleged the Class Defendants engaged in a scheme to prematurely recognize revenue in violation of Sections 10(b) and Rules 10b-5(a) and (c) of the Exchange Act. The Class Defendants filed a motion to dismiss the Consolidated Amended Complaint on September 17, 2024, and the motion was fully briefed and scheduled to be heard on July 16, 2025. On July 8, 2025, pursuant to the parties' stipulation, the NorCal Court vacated the hearing so Plaintiffs could file a Second Amended Complaint, which they did on July 22, 2025. The Second Amended Complaint alleged the same claims based on the same theories as the Consolidated Amended Complaint, but named an additional former officer as a Defendant and added additional challenged statements made within the same Class Period. The Class Defendants filed a motion to dismiss the Second Amended Complaint on September 17, 2025. On February 20, 2026, the NorCal Court granted the Class Defendants' motion to dismiss with leave to amend. On March 3, 2026, plaintiffs filed a Third Amended Complaint. The Third

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

Amended Complaint alleges the same claims based on the same theories as the Second Amended Complaint but removes some challenged statements related to ChargePoint's handling of supply chain disruptions. The Class Defendants filed a motion to dismiss the Third Amended Complaint on March 20, 2026. On May 21, 2026, the N. D. Cal. Court denied the motion to dismiss and, on May 22, 2026, the Court entered a scheduling order. Class Defendants' Answer to the Third Amended Complaint is due on June 11, 2026, fact discovery closes on December 11, 2026, a mediation must be completed by December 30, 2026, and trial is scheduled for July 26, 2027.

*Derivative Actions*

On January 4, 2024, a ChargePoint stockholder purporting to act on behalf of the Company filed an action in the U.S. District Court for the District of Delaware against ChargePoint's Board of Directors and certain of its former officers ("Derivative Defendants"), alleging that the Derivative Defendants breached their fiduciary duties to ChargePoint in connection with the same alleged events and alleged materially false and misleading statements asserted in the Class Actions described above. This action has been stayed. In light of the denial of Class Defendants' motion to dismiss in the Class Action described above, the stay will automatically be lifted on June 22, 2026. Four additional substantively duplicative actions were filed in the NorCal Court on January 8, 2024, March 1, 2024, May 2, 2024, and May 24, 2024. The complaints seek unspecified monetary damages and other relief. On September 23, 2024, the NorCal Court consolidated the four California actions into one action captioned In re ChargePoint Holdings, Inc. Derivative Litigation, Case No. 24-cv-00149-NW ("Consolidated Derivative Action"). On November 4, 2024, the NorCal Court entered an order staying the Consolidated Derivative Action pending resolution of Class Defendants' motion to dismiss in the Class Action Litigation. In light of the denial of that motion to dismiss, the parties must file a joint statement to the NorCal Court by June 22, 2026, indicating their positions as to whether the stay should be continued or lifted. A Case Management Conference for the Consolidated Derivative Action is scheduled to be held on September 8, 2026.

On May 27, 2026, another ChargePoint stockholder purporting to act on behalf of the Company filed an action in the Delaware Chancery Court against the Derivative Defendants, alleging that the Derivative Defendants breached their fiduciary duties to ChargePoint in connection with the same alleged events and alleged materially false and misleading statements asserted in the Third Amended Complaint in the Class Actions ("the Chancery Court Action"). The Chancery Court Action additionally alleges that the stockholder demanded on February 25, 2025 that the Board of Directors: (1) take action against the former officers who were defendants in the Class Actions; (2) pursue disgorgement of insider trading profits and unjust compensation obtained by corporate insiders; and (3) and obtain tolling agreements while it investigated the allegations. The Chancery Court Action alleges that the demands to investigate and take action were refused as premature and not in the interest of the Company.

On June 5, 2026, a ChargePoint stockholder purporting to act on behalf of the Company filed an action in the Delaware Court of Chancery against certain current and former officers and directors of the Company, alleging that the defendants breached their fiduciary duties to ChargePoint in connection with the same alleged events and alleged materially false and misleading statements asserted in the Third Amended Complaint in the Class Actions. The complaint additionally alleges claims for insider selling and unjust enrichment, asserting that certain defendants misappropriated material nonpublic information to sell Company common stock at artificially inflated prices. The complaint seeks damages sustained by the Company as a result of the alleged breaches of fiduciary duty, disgorgement of all profits from insider stock sales made while in possession of material nonpublic information, imposition of a constructive trust over compensation and profits obtained through the alleged unjust enrichment and insider selling, and attorneys' fees and costs.

At this time, the Company is unable to predict the outcome or estimate the amount of loss or range of losses that could potentially result from these lawsuits.

Based on its experience, the Company believes that damage amounts claimed in these matters are not meaningful indicators of potential liability. Given the inherent uncertainties of litigation, the ultimate outcome of the ongoing matters described herein cannot be predicted with certainty. While litigation is inherently unpredictable, the Company believes it has valid defenses with respect to the legal matters pending against it. Nevertheless, the condensed consolidated financial statements could be materially adversely affected in a particular period by the resolution of one or more of these contingencies. Liabilities established to provide for contingencies are adjusted as further information develops, circumstances change, or contingencies are resolved; and such changes are recorded in the accompanying condensed consolidated statements of operations during the period of the change and reflected in accrued and other current liabilities on the accompanying condensed consolidated balance sheets.

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

*Tariffs*

In February 2026, the U.S. Supreme Court issued a ruling invalidating certain tariffs previously imposed under the International Emergency Economic Powers Act (IEEPA). As a result of this ruling, the Company may be eligible for a refund of tariffs previously paid on imported goods. As the recoverability and timing of any such refund remains uncertain, the Company has not recognized a receivable and corresponding offset to expense or asset as of April 30, 2026 and will not until such amounts are realized or realizable. The Company continues to monitor these developments and their potential impact on its results of operations. Refer to Note 13, Subsequent Events, to the condensed consolidated financial statements for additional information.

**Guarantees and Indemnifications**

The Company has service level commitments to certain of its customers warranting certain levels of up-time reliability and performance and permitting those customers to receive credits in the event that the Company fails to meet those levels. To date, the Company has not incurred any material costs as a result of such commitments.

The Company's arrangements generally include certain provisions for indemnifying customers against liabilities if its products or services infringe a third-party's intellectual property rights. Additionally, the Company may be required to indemnify for claims caused by its negligence or willful misconduct. It is not possible to determine the maximum potential amount under these indemnification obligations due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. To date, the Company has not incurred any material costs as a result of such obligations and has not accrued any liabilities related to such obligations in the condensed consolidated financial statements.

The Company has also agreed to indemnify its directors and executive officers for costs associated with any fees, expenses, judgments, fines and settlement amounts incurred by them in any action or proceeding to which any of them are, or are threatened to be, made a party by reason of their service as a director or officer. The Company maintains director and officer insurance coverage that would generally enable it to recover a portion of any future amounts paid. The Company also may be subject to indemnification obligations by law with respect to the actions of its employees under certain circumstances and in certain jurisdictions.

**Letters of Credit**

The Company had $0.4 million of secured letters of credit outstanding as of April 30, 2026 and January 31, 2026, respectively.

**Leases**

The Company leases its office facilities under non-cancelable operating leases with various lease terms. The Company also leases certain office equipment under operating lease agreements.

The following table presents future payments of lease liabilities under the Company's non-cancelable operating leases as of April 30, 2026 (in thousands):

---

| | |
|:---|:---|
| | **(in thousands)** |
| 2027 (remaining nine months) | $4366 |
| 2028 | 4855 |
| 2029 | 4287 |
| 2030 | 2512 |
| Total undiscounted operating lease payments | 16020 |
| Less: imputed interest | (1660) |
| Total operating lease liabilities | 14360 |
| Less: current portion of operating lease liabilities | (4856) |
| **Operating lease liabilities, noncurrent** | $**9504** |

---

------

**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

**8. Common Stock**

As of April 30, 2026 and January 31, 2026, the Company was authorized to issue 1,000,000,000 shares of Common Stock, with a par value of $0.0001 per share. There were 25,897,631 and 24,316,597 shares issued and outstanding as of April 30, 2026 and January 31, 2026, respectively.

*At-the-Market Offering*

On July 1, 2022, ChargePoint filed a registration statement on Form S-3 (File No. 333-265986) with the SEC (that was declared effective by the SEC on July 12, 2022), which permitted the Company to offer up to $1.0 billion of Common Stock, preferred stock, debt securities, warrants and rights in one or more offerings and in any combination, including in units from time to time (the "2022 Shelf Registration Statement"). As part of the 2022 Shelf Registration Statement, ChargePoint filed a prospectus supplement registering for sale from time to time up to $500.0 million of Common Stock pursuant to a sales agreement (the "2022 ATM Facility"). The 2022 Shelf Registration Statement expired on July 12, 2025.

On September 8, 2025, ChargePoint filed a registration statement on Form S-3 (File No. 333-290113) with the SEC, which was amended on December 5, 2025 and was declared effective by the SEC on December 8, 2025, which permits the Company to offer up to $400.0 million of Common Stock, preferred stock, debt securities, warrants and rights in one or more offerings and in any combination, including in units from time to time (the "2025 Shelf Registration Statement"). The 2025 Shelf Registration Statement includes a sales agreement prospectus pursuant to which ChargePoint may, from time to time, offer and sell up to $150.0 million of Common Stock pursuant to a sales agreement (the "2025 ATM Facility").

During the three months ended April 30, 2026 and April 30, 2025, there were no sales of the Company's Common Stock pursuant to the 2025 ATM Facility and 2022 ATM Facility, respectively. As of April 30, 2026 there were no material amounts of shares of the Company's Common Stock issued pursuant to the 2025 ATM Facility .

*2025 Senior Loan Interest Shares*

During the quarter ended April 30, 2026, pursuant to the terms of the 2025 Credit Agreement, ChargePoint issued 1,199,942 Interest Shares to the holders of the 2025 Senior Loan in lieu of paying cash interest. See Note 6, *Debt*, for more information related to the Interest Shares.

**9. Common Stock Warrants**

The Company had outstanding warrants issued prior to 2021 to purchase shares of Common Stock (collectively, "Legacy Warrants"). As of April 30, 2026, there were 1,724,961 Legacy Warrants outstanding which are classified as equity and no Legacy Warrants were exercised during the three months ended April 30, 2026 and 2025. 1,046,106 Legacy Warrants have an exercise price of $120.60 per share and expire between July 31, 2030 and August 04, 2030. 678,855 Legacy Warrants have an exercise price of $180.80 per share and expire between November 16, 2028 and February 14, 2029. Warrants outstanding and warrant activity are adjusted on a retroactive basis to reflect the Reverse Stock Split as discussed in Note 1, *Description of Business and Basis of Presentation*.

In connection with the Exchange Transaction, on November 14, 2025, described in Note 6, *Debt*, under "2025 Senior Loan", the Company issued the warrants to purchase an aggregate of 1,671,000 shares of ChargePoint's Common Stock to the Exchanging Holders (2025 Warrants). The 2025 Warrants were exercisable immediately upon issuance and will expire on November 14, 2030. The 2025 Warrants are accounted for as equity as they are redeemable only in shares of Common Stock, with an exercise price of $25.00 per share and may be exercised at the election of the holder on a cash basis or through a cashless exercise. As of April 30, 2026, 1,671,000 2025 Warrants were outstanding and no 2025 Warrants were exercised during the three months ended April 30, 2026.

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**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

**10. Equity Plans and Stock-based Compensation**

The following sets forth the total stock-based compensation expense for employee equity plans included in the Company's condensed consolidated statements of operations:

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| | | |
|:---|:---|:---|
| | **Three Months Ended<br>April 30,** | **Three Months Ended<br>April 30,** |
| | **2026** | **2025** |
| | **(in thousands)** | **(in thousands)** |
| Cost of revenue | $991 | $1223 |
| Research and development | 5432 | 8614 |
| Sales and marketing | 1882 | 3079 |
| General and administrative | 2290 | 4947 |
| **Total stock-based compensation expense** | $**10595** | $**17863** |

---

As of April 30, 2026, the Company had unrecognized stock-based compensation expense related to RSUs and PRSUs (as defined below), and 2021 ESPP (as defined below) of $37.0 million, which is expected to be recognized over a weighted-average period of 1.9 years.

**2021 Employee Stock Purchase Plan**

The 2021 Employee Stock Purchase Plan ("2021 ESPP") permits participants to purchase shares of the Company's Common Stock at a discounted price through payroll deductions. As of April 30, 2026, 894,753 shares of Common Stock were available under the 2021 ESPP.

**2021 Equity Incentive Plan**

The 2021 Equity Incentive Plan ("2021 EIP") allows the Company to grant stock options, stock appreciation rights, restricted stock units ("RSUs"), performance restricted stock units ("PRSUs"), and certain other awards. As of April 30, 2026, 2,674,574 shares of Common Stock were available under the 2021 EIP.

The Company has granted instruments noted below under the 2021 EIP.

**Restricted Stock Units**

A summary of RSUs outstanding under the 2021 EIP as of April 30, 2026 and changes during the fiscal year-to-date period then ended is presented in the following table, adjusted on a retroactive basis to reflect the Reverse Stock Split as discussed in Note 1, *Description of Business and Basis of Presentation*:

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| | | |
|:---|:---|:---|
| | **Number of Shares** | **Weighted Average Grant Date Fair Value per Share** |
| **Outstanding as of January 31, 2026** | 2195297 | $26.56 |
| RSU granted | 26601 | $6.38 |
| RSU vested | (289681) | $41.19 |
| RSU forfeited | (173812) | $26.95 |
| **Outstanding as of April 30, 2026** | 1758405 | $23.80 |

---

**Performance Restricted Stock Units**

*Market-Based PRSUs*

Pursuant to the 2021 EIP, the Company grants PRSUs to certain officers, including the Company's Chief Executive Officer. Vesting of the PRSUs is dependent upon the satisfaction of both market- and service-based conditions occurring at the

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**ChargePoint Holdings, Inc.**

**Notes to Condensed Consolidated Financial Statements**

**(unaudited)**

end of a four- or five- year period. The market-based condition is achieved if the closing price of the Company's Common Stock is greater than or equal to the applicable stock price appreciation target over a specified period at any time during the period beginning the date of the grant and ending on the expiration date.

*Performance-Based PRSUs*

Performance-based PRSUs are granted to certain employees, including executive officers, with vesting based on the achievement of specific financial goals, such as EBITDA. The grant date fair value of performance-based PRSUs are valued based on the Company's stock price at the grant date. Stock-based compensation expense is recognized over the requisite service period based on the number of units expected to vest, which is reassessed during each reporting period based on the Company's evaluation of the probability of achieving the applicable performance conditions.

A summary of PRSUs outstanding under the 2021 EIP as of April 30, 2026 and changes during the fiscal year-to-date period then ended is presented in the following table, adjusted on a retroactive basis to reflect the Reverse Stock Split as discussed in Note 1, *Description of Business and Basis of Presentation*:

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| | | |
|:---|:---|:---|
| | **Number of Shares** | **Weighted Average Grant Date Fair Value per Share** |
| **Outstanding as of January 31, 2026** | 444933 | $23.22 |
| PRSUs granted |  | $— |
| PRSU forfeited |  | $— |
| **Outstanding as of April 30, 2026** | 444933 | $23.22 |

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**Stock Options**

*2017 Plan and 2007 Plan*

In fiscal year 2022, the Company terminated its 2017 Stock Option Plan (the "2017 Plan") and 2007 Stock Option Plan (the "2007 Plan").

A summary of options outstanding under the 2017 Plan and 2007 Plan as of April 30, 2026 and changes during the fiscal year-to-date period then ended is presented in the following table, adjusted on a retroactive basis to reflect the Reverse Stock Split as discussed in Note 1, *Description of Business and Basis of Presentation*:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Number of Stock Option Awards** | **Weighted Average Exercise Price** | **Weighted Average Remaining Contractual term (in years)** | **Aggregate Intrinsic Value (in thousands)** |
| **Outstanding as of January 31, 2026** | 118756 | $15.51 | 3.1 | $— |
| Options expired | (3145) | $12.67 |  |  |
| **Outstanding as of April 30, 2026** | 115611 | $15.58 | 2.8 | $— |
| Options vested and expected to vest as of April 30, 2026 | 115611 | $15.58 | 2.8 | $— |
| **Exercisable as of April 30, 2026** | 115611 | $15.58 | 2.8 | $— |

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**11. Income Taxes**

The income tax provision for interim periods is determined using an estimate of the Company's annual effective tax rate as adjusted for discrete items arising in that quarter. The effective income tax rate was (2.9)% and (1.1)% for the three months ended April 30, 2026 and 2025, respectively. The effective tax rate differs from the U.S. statutory rate primarily due to the full valuation allowances on the Company's net domestic deferred tax assets as it is more likely than not that all of the deferred tax assets will not be realized.

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On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was signed into law in the United States. The OBBBA includes a broad range of tax reform provisions affecting businesses. The Company has reflected the estimated impact of the OBBBA in the year-to-date and quarterly tax provision as of April 30, 2026. The impact of the OBBBA was not material to our Condensed Consolidated Financial Statements (Unaudited) and related disclosures.

**12. Basic and Diluted Net Loss per Share**

The following table sets forth the computation of the Company's basic and diluted net loss per share attributable to common stockholders for the three months ended April 30, 2026 and 2025, adjusted on a retroactive basis to reflect the Reverse Stock Split as discussed in Note 1, *Description of Business and Basis of Presentation*:

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| | | |
|:---|:---|:---|
| | **Three months ended April 30,** | **Three months ended April 30,** |
| | **2026** | **2025** |
| | **(in thousands, except share and per share data)** | **(in thousands, except share and per share data)** |
| ***Numerator:*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(43204) | $(57121) |
| ***Denominator:*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average common shares outstanding | 24630127 | 22952278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted average shares outstanding - Basic and Diluted | 24630127 | 22952278 |
| **Net loss per share - Basic and Diluted** | $**(1.75)** | $**(2.49)** |

---

The potential shares of Common Stock that were excluded from the computation of diluted net loss per share attributable to common stockholders at each period end, adjusted on a retroactive basis to reflect the Reverse Stock Split as discussed in Note 1, *Description of Business and Basis of Presentation*, because including them would have had an antidilutive effect were as follows:

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| | | |
|:---|:---|:---|
| | **April 30,<br>2026** | **April 30,<br>2025** |
| 2028 Convertible Notes (on an as-converted basis) | 49214 | 1358507 |
| Options to purchase common stock | 115611 | 125613 |
| Restricted stock units | 1758405 | 1654412 |
| 2025 Warrants | 1671000 |  |
| Legacy Warrants | 1724961 | 1724971 |
| Employee stock purchase plan | 805834 | 426712 |
| **Total potentially dilutive common share equivalents** | **6125025** | **5290215** |

---

PRSUs granted were excluded from the above table because the respective stock price and EBITDA targets have not been met as of April 30, 2026.

**13. Subsequent Event**

*U.S. Tariffs' Refund Update*

Beginning on May 15, 2026, the Company began to receive refunds of its previously submitted tariff claims. As of the date of this Quarterly Report, the Company has received refunds of $3.9 million. This amount will be recorded as a reduction to inventory and cost of goods sold. The timing and ultimate availability of any additional refunds remains uncertain.

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**ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

*The following discussion of the financial condition and results of operations of ChargePoint Holdings, Inc. ("ChargePoint" or the "Company") should be read in conjunction with ChargePoint's condensed consolidated financial statements and related notes appearing elsewhere in this Quarterly Report, and the audited consolidated financial statements for the year ended January 31, 2026 and related notes included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 2, 2026. This discussion may contain forward-looking statements based upon current expectations that involve risks and uncertainties. ChargePoint's actual results may differ materially from those anticipated in these forward-looking statements as a result of various factors, including those set forth under "Risk Factors" in Part II, Item 1A of this Quarterly Report.* 

**Overview**

ChargePoint designs, develops and markets networked electric vehicle ("EV") charging system infrastructure ("Networked Charging Systems") connected through cloud-based services (the "ChargePoint Platform") which (i) enable charging systems owners, charge point operators ("CPOs") or hosts, to manage their Networked Charging Systems, and (ii) enable drivers to locate, reserve and authenticate Networked Charging Systems and to transact EV charging sessions on those systems. ChargePoint's Networked Charging Systems, subscriptions and other offerings provide an open platform that integrates with system hardware from ChargePoint and other manufacturers, connecting systems over an intelligent network that provides real-time information about charging sessions and full control, support and management of the Networked Charging Systems. This network provides multiple web-based portals for charging system owners, fleet managers, drivers and utilities.

ChargePoint generates revenue primarily through the sale of Networked Charging Systems, subscriptions to the ChargePoint Platform and extended parts and labor warranties ("Assure"). The Company also generates revenue, in some instances, by providing customers use of ChargePoint's owned and operated Networked Charging Systems, ChargePoint Platform and Assure into a single multi-year or annual subscription ("ChargePoint as a Service" or "CPaaS"). Each of the ChargePoint Platform, Assure and CPaaS is typically paid for upfront and revenue is recognized ratably over the term of the subscription period.

ChargePoint targets three key verticals: commercial, fleet and residential. Commercial customers have parking places largely within their workplaces and include retail, hospitality, healthcare, fueling and convenience and parking lot operators. Fleet includes municipal buses, delivery and work vehicles, port/airport/warehouse and other industrial applications, ride-sharing services, and is expected to eventually include autonomous transportation. Residential includes single family homes and multifamily residences.

Since its inception in 2007, ChargePoint has been engaged in developing and marketing its Networked Charging Systems, subscriptions and other offerings, raising capital and recruiting personnel. ChargePoint has incurred net operating losses and negative cash flows from operations in every year since its inception. As of April 30, 2026, ChargePoint had an accumulated deficit of $2,154.8 million. The Company's principal sources of liquidity are its cash and cash equivalents, cash generated from sales to customers, debt financing (as described in Note 6, *Debt*), and sales of Common Stock under the 2022 and 2025 ATM Facilities (as defined in Note 8, *Common Stock*).

**Key Factors Affecting Operating Results**

ChargePoint believes its performance and future success depend on several factors that present significant opportunities for it but also pose risks and challenges, including those discussed below:

***Growth in EV Adoption***

ChargePoint believes its revenue growth is tied to the number of passenger and commercial EVs sold, which it believes drives the demand for EV charging infrastructure. The market for EVs is still rapidly evolving and although demand for EVs has grown in recent years, the rate of EV sales is highly volatile and there is no guarantee of future demand for EV sales, especially in the markets ChargePoint primarily services, such as North America and Europe. Factors impacting the adoption of EVs include but are not limited to perceptions about EV features, quality, safety, performance and cost; perceptions about the limited range over which EVs may be driven on a single battery charge; volatility in the cost of oil and gasoline (including as a result of ongoing conflicts in the Middle East involving the United States, Iran, Israel and other Gulf States); availability of services for EVs; consumers' perception about the convenience, reliability and cost of charging EVs; and increases in fuel efficiency of internal combustion engine vehicles. Further, numerous EV auto manufacturers have announced delays in or

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modified their previously announced plans to migrate their manufacturing production to be solely or primarily EVs. For example, the North American EV market has recently suffered a substantial decline in the sale of new EVs since the termination of the $7,500 U.S. federal tax credit in September 2025, resulting in quarterly declines of new EVs sold as compared to the same quarters in the prior year. If the market for EVs does not develop as expected, if there is any slow-down or delay in overall EV adoption, or if auto manufacturers delay their EV manufacturing rates or eliminate their plans to transition to predominately EV manufacturing, the rate of EV adoption may be adversely affected and the market for EV charging may not develop as a result and ChargePoint's financial condition and results of operations could be materially and adversely impacted.

***Macroeconomic Trends***

ChargePoint has an international presence and as a result is subject to risks and uncertainties caused by significant events with macroeconomic impacts, including, but not limited to geopolitical events, such as the ongoing Russia-Ukraine conflict, conflicts in the Middle East involving the United States, Iran, Israel and other Gulf States, rising political tensions with China, fluctuations in inflation and interest rates, monetary policy changes, financial services sector instability, recessions, global pandemics and foreign currency fluctuations.

In February 2026, the United States Supreme Court issued a ruling striking down certain tariffs previously imposed under the International Emergency Economic Powers Act ("IEEPA"). The ultimate availability, timing, and amount of any potential refunds of such tariffs remain highly uncertain and are subject to further legal, regulatory, and administrative developments. Following the Supreme Court's decision, the U.S. federal government announced its intention to implement new tariffs and surcharges of up to 15% on imports from many of the same countries previously subject to IEEPA under separate authority, including Section 122 of the Trade Act of 1974. There remains substantial uncertainty regarding the duration of existing and newly announced tariffs and surcharges, potential changes or pauses to such tariffs, tariff levels, and whether further additional tariffs or other retaliatory actions may be imposed, modified, or suspended, and the impacts of such actions on ChargePoint's business. ChargePoint continues to monitor and evaluate these developments and assess their potential impact on ChargePoint's business, financial condition, and results of operations. Trade restrictions and increased tariffs between the United States and countries like China, Mexico and Canada may result in adverse economic conditions, increase the costs of goods sold and result in a recession or the threat of a recession.

In addition, the United States automotive manufacture industry is particularly sensitive to the impact of disruptions in supply chains as a result of geopolitical conflicts and tariffs on the increased costs of manufacturing and selling vehicles, which may result in substantial increases to the cost of vehicles to consumers, including EVs. Because ChargePoint is substantially reliant on the increased adoption and sales of new EVs, if there is any downturn in the sales of EVs or consumers reduce their purchases of new EVs, either because the vehicles are more expensive or as the result of a general downturn in the overall economy as the result of the conflicts in the Middle East and additional tariffs, ChargePoint's customers may reduce their need for EV infrastructure development and ChargePoint's business, financial results and results of operations may be harmed.

Global economic uncertainty due to other macroeconomic conditions, including inflation, interest rate pressures, disruptions and credit constraints in the financial services industry, labor market disruptions, and related concerns of a potential recession, have impacted customer behavior related to discretionary spending and sentiment and could continue to impact such behaviors in the future. Any resulting decline in the ability or willingness of customers, fleet owners and operators to purchase ChargePoint's products or subscription services could have an adverse impact on ChargePoint's results of operations and financial condition.

***Competition***

ChargePoint is currently a market leader in North America in commercial Level 2 Alternating Current ("AC") charging. ChargePoint also offers AC chargers for use at home and for fleet applications, and high-power Level 3 Direct Current ("DC") chargers for fast urban charging, corridor or long-trip charging and fleet applications. ChargePoint intends to expand its market share over time in its product categories, leveraging the network effect of its products and ChargePoint Platform. Existing competitors may expand their product offerings and sales strategies, and new competitors may enter the market. Historically, ChargePoint has sold its Networked Charging Systems and charger management system ("CMS" or "CMS Services") as an integrated "full-stack" offering, providing its customers with a sole-source solution for their EV charging needs, especially in the United States. At times, customers seek to disaggregate their networked charging solutions and to implement independent hardware and charging management software solutions, particularly for national or global commercial retailers and large fleet operators. While ChargePoint enables Networked Charging System owners to choose ChargePoint's CMS Services and select their choice of third-party hardware, there is no guarantee that this distributed sales model will be successful. If ChargePoint's market share decreases due to increased competition, or if ChargePoint is unable to compete with a disaggregated EV charging solutions sales model, its financial condition and results of operations may be materially and adversely impacted. Furthermore,

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ChargePoint's success could be negatively impacted if consumers and businesses choose other types of alternative fuel vehicles or high fuel-economy gasoline powered vehicles.

***Impact of New Product Releases and Investments in Growth***

As ChargePoint introduces new products its gross margins may be initially negatively impacted by launch costs and lower sales volumes until it achieves targeted cost reductions. Cost reductions may not occur on the timeline ChargePoint expects due to a number of factors, including but not limited to failure to meet its own estimates, unanticipated supply chain difficulties, government mandates or certification requirements. In recent quarters, ChargePoint has maintained elevated levels of inventory, and ChargePoint is also preparing for the introduction of its next generation AC and DC Networked Charging System models, which increases the complexity of inventory management and heightens the risk that certain existing products or components may become excess, obsolete, or subject to inventory write-downs. In addition, ChargePoint may accelerate its expenditures where it sees growth opportunities, which may negatively impact gross margin until upfront costs and inefficiencies are absorbed and normalized operations are achieved. Further, ChargePoint has historically invested in prioritizing an assurance of supply of its products and new customer acquisition, which puts pressure on gross margins and increases operating expenses. ChargePoint also continuously evaluates and may adjust its expenditures, such as new product introduction costs, based on its launch plans for new products, as well as other factors including the pace and prioritization of current projects under development and the addition of new projects. As ChargePoint attains higher revenue, it expects operating expenses as a percentage of total revenue to decrease as it scales and focuses on increasing operational efficiency and process automation.

ChargePoint intends to use third-party contract manufacturers and design partners for targeted new research and development initiatives with the goals of controlling development costs and decreasing operating expenses. ChargePoint believes such partnerships will allow it to better manage research and development expenses, improve the speed and quality of new product development and increase its efficiencies by leveraging the design talent and supply chains of these partners. Implementing third-party design partners for new research and development initiatives will require sophisticated oversight, quality programs and cost-control initiatives. If ChargePoint is not successful in its use of third-party contract manufacturers and design partners for new product development its financial conditions, gross margins and results of operations could be materially and adversely affected.

***Government Mandates, Incentives and Programs***

The U.S. federal government, certain foreign governments and some state and local governments provide incentives to end users and purchasers of EVs and EV infrastructure in the form of rebates, tax credits and other financial incentives. The U.S. federal government, and some foreign and state governments, have proposed changing or ending these incentives. These proposals create uncertainty and if adopted and implemented may have a material adverse impact on the EV market, which benefits from these financial incentives to significantly lower the effective price of EVs and EV charging stations to customers.

For example, the Infrastructure Investment and Jobs Act signed into law on November 15, 2021 provided additional funding for EVs and EV charging infrastructure through the creation of new programs and grants and the expansion of existing programs, including the $7.5 billion National Electric Vehicle Infrastructure ("NEVI") Program for EV charging along highway corridors. On August 11, 2025, the Federal Highway Administration ("FHWA") issued new guidance, updating prior guidance which previously froze federal funds tied to NEVI and directed states to file updated implementation plans within 30 days. FHWA has since approved the state plans and states are moving forward with their NEVI programs. Separately, the One Big Beautiful Bill Act ("OBBBA") was signed into law on July 4, 2025, which set new end dates for the EV charging infrastructure tax credits previously made available under Section 30C and Section 30D of the Internal Revenue Code of 1986, as amended. In particular, the OBBBA terminated the $7,500 new clean vehicle tax credit for all new EVs sold after September 30, 2025. This and any other reduction in rebates, tax credits or other financial incentives for EVs or EV charging stations could materially reduce the demand for EVs and ChargePoint's solutions and, as a result, may adversely impact ChargePoint's business and expansion potential.

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**Results of Operations and Its Components**

***Revenue***

*Networked Charging Systems*

Networked Charging Systems revenue includes the deliveries of EV charging system infrastructure, which include a range of AC products for use in residential, commercial and fleet applications, and DC, or fast-charge products for use in commercial and fleet applications, as well as fees received for transferring regulatory incentives earned for participating in low carbon fuel programs. ChargePoint generally recognizes revenue from sales of Networked Charging Systems upon shipment to customers, including distributors, resellers or direct sales customers as these customers obtain title and control over these products. Revenue is adjusted for estimated returns. Revenue from regulatory incentives is recognized when the regulatory incentives are transferred.

*Subscriptions*

Subscriptions revenue consists of revenue from ChargePoint Platform software, Assure extended maintenance plans, and CPaaS, which combines the customer's use of ChargePoint's owned and operated Networked Charging Systems with the ChargePoint Platform and Assure programs into a single, typically multi-year subscription.

In some instances, CPaaS subscriptions are considered for accounting purposes to contain a lease for the customer's use of ChargePoint's owned and operated Networked Charging Systems unless the location allows the customer to receive incremental economic benefit from regulatory credits earned on that EV charging system. Lessor revenue relates to operating leases and historically has not been material. Subscriptions revenue is generally recognized over time on a straight-line basis as ChargePoint has an ongoing obligation to deliver such services to the customer.

*Other*

Other revenue consists of charging related fees received from drivers using charging sites owned and operated by ChargePoint, net transaction fees earned for processing payments collected on driver charging sessions at charging sites owned by its customers, and other professional services. Revenue from driver charging sessions and charging transaction fees is recognized when the charging session or transaction is completed. Revenue from fees for owned and operated sites is recognized over time on a straight-line basis over the performance period of the service contract as ChargePoint has an ongoing obligation to deliver such services. Revenue from professional services is recognized as the services are rendered.

ChargePoint has seen its revenue fluctuate based on market demand and other factors, and expects this variability of growth in Networked Charging Systems revenue to continue in the near term. In the long term, it expects revenue to grow in both Networked Charging Systems and subscriptions due to increased demand in EVs and the related charging infrastructure market.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Networked Charging Systems</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $53307 | $52059 | $1248 | 2.4% |
| Percentage of total revenue | 52.4% | 53.3% |  |  |

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Networked Charging Systems revenue increased during the three months ended April 30, 2026 compared to the three months ended April 30, 2025 primarily due to higher volume of Networked Charging Systems delivered across ChargePoint's major product families.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Subscriptions</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $40775 | $38020 | $2755 | 7.2% |
| Percentage of total revenue | 40.0% | 38.9% |  |  |

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Subscriptions revenue increased during the three months ended April 30, 2026 compared to the three months ended April 30, 2025 primarily due to the growth in the number of ChargePoint Platform subscriptions and Assure subscriptions for Networked Charging Systems connected to ChargePoint's network.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Other Revenue</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $7737 | $7561 | $176 | 2.3% |
| Percentage of total revenue | 7.6% | 7.7% |  |  |

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Other revenue increased during the three months ended April 30, 2026 compared to the three months ended April 30, 2025 due to increase in transaction fees earned for processing payments collected on driver charging sessions at charging sites owned by ChargePoint's customers.

***Cost of Revenue***

*Networked Charging Systems*

ChargePoint uses contract manufacturers to manufacture its Networked Charging Systems. ChargePoint's cost of revenue for the sale of Networked Charging Systems includes the contract manufacturer's costs of finished goods and shipping and handling. Cost of revenue for the sale of Networked Charging Systems also consists of salaries and related personnel expenses, including stock-based compensation, warranty provisions, inventory obsolescence and write-downs, depreciation of manufacturing related equipment, and allocated facilities and information technology expenses. As revenue is recognized, ChargePoint accounts for estimated warranty cost as a charge to cost of revenue. The estimated warranty cost is based on historical and predicted product failure rates and repair expenses.

*Subscriptions*

Cost of Subscriptions revenue includes salaries and related personnel expenses, including stock-based compensation and third-party support costs to manage the systems and helpdesk services for drivers and site hosts, network and wireless connectivity costs for subscription services, field costs for Assure, depreciation of owned and operated systems used in CPaaS arrangements, allocated facilities and information technology expenses.

*Other*

Cost of other revenue includes depreciation and other costs for ChargePoint's owned and operated charging sites, charging related processing charges, salaries and related personnel expenses, including stock-based compensation, as well as costs of professional services.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Cost of Networked Charging Systems Revenue</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $48954 | $48638 | $316 | 0.6% |
| Percentage of Networked Charging Systems revenue | 91.8% | 93.4% |  |  |

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Cost of Networked Charging Systems revenue increased during the three months ended April 30, 2026 compared to the three months ended April 30, 2025 primarily due to lower costs of products shipped.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Cost of Subscriptions Revenue</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $17920 | $15366 | $2554 | 16.6% |
| Percentage of subscriptions revenue | 43.9% | 40.4% |  |  |

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Cost of Subscriptions revenue increased primarily due to the increases in Assure costs during the three months ended April 30, 2026 compared to the three months ended April 30, 2025.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **April 30,** | **April 30,** |  |  |
| **<u>Cost of Other Revenue</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $5323 | $5650 | $(327) | (5.8)% |
| Percentage of other revenue | 68.8% | 74.7% |  |  |

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Cost of other revenue decreased during the three months ended April 30, 2026 compared to the three months ended April 30, 2025 due to cost efficiencies associated with driver charging sessions at charging sites owned by ChargePoint's customers.

***Gross Profit and Gross Margin***

Gross profit represents revenue less cost of revenue, and gross margin is gross profit expressed as a percentage of revenue. ChargePoint offers a range of Networked Charging Systems with significant variation in selling prices and associated gross margins. As a result, ChargePoint's gross profit and gross margin have fluctuated in the past and are expected to continue to vary from period to period, driven by factors such as geographic, vertical and product mix.

In the long term, improvements in ChargePoint's gross profit and gross margin will depend on its ability to continue to optimize its operations and supply chain as it increases its revenue. However, at least in the short term, as the product mix continues to vary and as ChargePoint continues to align inventory supply with demand and optimize for customer acquisition, launches new Networked Charging Systems, grows its presence in Europe where it has not yet achieved economies of scale, and expands its solutions for its fleet customers, gross margin will vary from period to period.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Gross Profit and Gross Margin</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $29622 | $27986 | $1636 | 5.8% |
| Gross margin | 29.1% | 28.7% | 0.4% |  |

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Gross profit and gross margin increased during the three months ended April 30, 2026 compared to the three months ended April 30, 2025 primarily due to Networked Charging Systems cost efficiencies, and a slight increase in subscription revenue as a percentage of total revenue.

***Research and Development Expenses***

Research and development expenses consist primarily of salaries and related personnel expenses, including stock-based compensation, for personnel related to the development of improvements and expanded features for ChargePoint's products and services, including in quality assurance, testing, product management, and allocated facilities and information technology expenses. Research and development costs also include prototype and testing cost, professional services and consulting, and are expensed as incurred.

ChargePoint expects its research and development expenses to decrease as a percentage of revenue as it continues to optimize its research and development activities for its technology and product roadmap.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Research and Development Expenses</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $35597 | $33510 | $2087 | 6.2% |
| Percentage of total revenue | 35.0% | 34.3% |  |  |

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Research and development expenses increased during the three months ended April 30, 2026 compared to the three months ended April 30, 2025 primarily due to $4.1 million employee severance, termination and employment-related exit costs related to the March 2026 Reorganization, offset by a $3.2 million reduction in stock based compensation expense.

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***Sales and Marketing Expenses***

Sales and marketing expenses consist primarily of salaries and related personnel expenses, including stock-based compensation, sales commissions, professional services fees, travel, marketing and promotional expenses, bad debt expenses, and allocated facilities and information technology expenses.

ChargePoint expects its sales and marketing expenses to decrease as a percentage of revenue as it continues to optimize its sales and marketing activities while expanding sales.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Sales and Marketing Expenses</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $23594 | $26192 | $(2598) | (9.9)% |
| Percentage of total revenue | 23.2% | 26.8% |  |  |

---

Sales and marketing expenses decreased during the three months ended April 30, 2026 compared to the three months ended April 30, 2025 primarily due to a decrease in bad debt expense of $2.0 million, decrease of $1.2 million in stock based compensation, offset by $1.7 million employee severance, termination and employment-related exit costs related to the March 2026 Reorganization.

***General and Administrative Expenses***

General and administrative expenses consist primarily of salaries and related personnel expenses, including stock-based compensation related to finance, legal and human resource functions, contractor and professional services fees, audit and compliance expenses, insurance costs, and general corporate expenses, including allocated facilities and information technology expenses.

We expect to continue managing and reducing our general and administrative expenses as we scale our business operations and operate as a public company. These expenses include costs related to compliance with SEC rules and regulations, legal and audit services, additional insurance, and other administrative and professional services.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>General and Administrative Expense</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $17585 | $22124 | $(4539) | (20.5)% |
| Percentage of total revenue | 17.3% | 22.7% |  |  |

---

General and administrative expenses decreased during the three months ended April 30, 2026 compared to the three months ended April 30, 2025 primarily due to a decrease in non-recurring operating expenses of $3.6 million mainly from litigation and settlement costs, and a decrease of $2.6 million in stock based compensation, offset by $1.8 million employee severance, termination and employment-related exit costs and facilities exit costs related to March 2026 Reorganization..

***Interest Income***

Interest income consists primarily of interest earned on ChargePoint's cash and cash equivalents.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Interest Income</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $336 | $1164 | $(828) | (71.1)% |
| Percentage of total revenue | 0.3% | 1.2% |  |  |

---

Interest income decreased during the three months ended April 30, 2026 as compared to the three months ended April 30, 2025 due to lower balances of interest-bearing cash equivalents.

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***Interest Expense***

Interest expense consists primarily of the interest on ChargePoint's 2028 Convertible Notes that were originally issued in April 2022, and amended in October 2023, which are described more completely below in *Liquidity and Capital Resources*.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Interest Expense</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $(274) | $(6436) | $6162 | (95.7)% |
| Percentage of total revenue | (0.3)% | (6.6)% |  |  |

---

Interest expense decreased during the three months ended April 30, 2026 as compared to the three months ended April 30, 2025 primarily due to a decrease in the outstanding balance of the 2028 Convertible Notes as the result of the debt Exchange Transaction. For more information, see Part I, Item 1, Note 6, *Debt*, in the notes to condensed consolidated financial statements in this Quarterly Report.

***Other Income, Net***

Other income (expense), net consists primarily of gains and losses on foreign currency transactions and a one-time gain on loan repayment.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Other Income (Expense), net</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $5096 | $2613 | $2483 | 95.0% |
| Percentage of total revenue | 5.0% | 2.7% |  |  |

---

Other income, net increased during the three months ended April 30, 2026 as compared to the three months ended April 30, 2025 primarily due to the recognition of a $5.4 million gain on prepayment of Short-Term Loans, offset by a decrease in foreign exchange gains of $3.0 million driven by unfavorable changes in foreign exchange rates.

***Provision for Income Taxes***

ChargePoint's provision for income taxes consists of federal, state and foreign income taxes based on enacted federal, state and foreign tax rates, as adjusted for allowable credits, deductions, uncertain tax positions, changes in deferred tax assets and liabilities and changes in tax law. Due to the level of historical losses, ChargePoint maintains a valuation allowance against U.S. federal and state deferred tax assets as it has concluded it is more likely than not that these deferred tax assets will not be realized.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **April 30,** | **April 30,** | | |
| **<u>Provision for Income Taxes</u>** | **2026** | **2025** | **Change** | **Change** |
|  | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) | (dollar amounts in thousands) |
| **Three months ended** | $1208 | $622 | $586 | 94.2% |
| Percentage of loss before provision for income taxes | (2.9)% | (1.1)% |  |  |

---

The provision for income taxes increased during the three months ended April 30, 2026 as compared to the three months ended April 30, 2025 primarily due to income tax provisions on foreign subsidiaries.

**Liquidity and Capital Resources**

***Sources of Liquidity***

ChargePoint's primary sources of liquidity are its cash and cash equivalents, cash generated from sales to customers, cash generated from sales of its Common Stock and debt financing.

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ChargePoint's primary requirements for liquidity and capital are to finance working capital, inventory management, capital expenditures and general corporate purposes. ChargePoint expects these needs to continue as ChargePoint develops and grows its business. ChargePoint has incurred net losses and negative cash flows from operations since its inception, which it anticipates will continue for the foreseeable future.

As of April 30, 2026, ChargePoint had cash, cash equivalents and restricted cash of $96.2 million. As of January 31, 2026, ChargePoint had cash, cash equivalents and restricted cash of $142.0 million. ChargePoint believes that its cash on hand and cash generated from sales to customers will satisfy its working capital and capital requirements for at least the next twelve months.

<u>2025 Credit Agreement</u>

On November 14, 2025, ChargePoint entered into a privately negotiated exchange agreement (the "Exchange Agreement") with certain holders (the "Exchanging Holders") of its outstanding 2028 Convertible Notes. Pursuant to the Exchange Agreement, the Company exchanged $328.6 million of aggregate capitalized principal amount of the 2028 Convertible Notes for the following consideration (the "Exchange Transaction"): (i) $186.5 million in aggregate principal amount under a new Credit and Security Agreement (the "2025 Credit Agreement"), (ii) $25.0 million in cash, and (iii) warrants to purchase up to 1,671,000 shares of ChargePoint's common stock at an exercise price of $25.00 per share (the "2025 Warrants"). ChargePoint did not receive any cash proceeds from the Exchange Transaction. Following the consummation of the Exchange Transaction, $11.3 million in capitalized principal amount of 2028 Convertible Notes remains outstanding. The Exchange Agreement contains customary representations, warranties and covenants of ChargePoint and the Exchanging Holders. For more information about the Exchange Transaction see Note 6, *Debt,* in Part I, Item 1, "Financial Statements" of this Quarterly Report on Form 10-Q.

<u>2027 Revolving Credit Facility</u>

On July 27, 2023, the Company entered into a revolving credit agreement by and among the Company, ChargePoint, Inc. (the "Borrower"), certain subsidiaries of the Borrower as guarantors, JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto which provided for a senior secured revolving credit facility in an initial aggregate principal amount of up to $150.0 million, with a maturity date of January 1, 2027 (the "2027 Revolving Credit Facility"). As of the closing of the 2025 Credit Agreement, ChargePoint had no borrowings outstanding under the 2027 Revolving Credit Facility, and in connection with the consummation of the 2025 Credit Agreement, ChargePoint terminated the 2027 Revolving Credit Facility. For more information about the 2027 Revolving Credit Facility see Note 6, *Debt,* in Part I, Item 1, "Financial Statements" of this Quarterly Report on Form 10-Q.

<u>2028 Convertible Notes</u>

In April 2022, ChargePoint completed a private placement of $300.0 million aggregate principal amount of convertible notes, with an original maturity date of April 1, 2027 (the "Original Convertible Notes"). In October 2023, ChargePoint completed an amendment to the indenture for the Original Convertible Notes (the "Notes Amendment") pursuant to which the Cash Interest and PIK Interest (as described below) were increased and the maturity date for the Original Convertible Note was extended to April 1, 2028 (the "2028 Convertible Notes"). The net proceeds from the original sale of the 2028 Convertible Notes were approximately $294.0 million after deducting initial purchaser discounts and commissions and the Company's offering expenses.

Prior to the Notes Amendment, the Original Convertible Notes bore interest at 3.50% per annum, to the extent paid in cash ("Cash Interest"), which was payable semi-annually in arrears on April 1st and October 1st of each year or 5.00% per annum through the issuance of additional Original Convertible Notes. The 2028 Convertible Notes bear Cash Interest at 7.00% per annum or 8.50% per annum through the issuance of additional 2028 Convertible Notes ("PIK Interest"). The 2028 Convertible Notes are convertible, based on the applicable conversion rate, into cash, shares of ChargePoint's Common Stock or a combination thereof, at ChargePoint's election. The conversion rate of the 2028 Convertible Notes is 4.1667 shares of Common Stock per $1,000 principal amount, which is equivalent to a conversion price of approximately $240.00 per share of Common Stock.

On November 14, 2025, ChargePoint entered into the Exchange Agreement. Following the consummation of the Exchange Transaction, $11.3 million in capitalized principal amount of 2028 Convertible Notes remains outstanding. For more information about the Exchange Transaction see Note 6, *Debt,* in Part I, Item 1, "Financial Statements" of this Quarterly Report on Form 10-Q.

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<u>Shelf Registrations and ATM Facilities</u>

On July 1, 2022, ChargePoint filed a registration statement on Form S-3 (File No. 333-265986) with the SEC (that was declared effective by the SEC on July 12, 2022), which permitted ChargePoint to offer up to $1.0 billion of shares of Common Stock, preferred stock, debt securities, warrants and rights in one or more offerings and in any combination, including in units from time to time (the "2022 Shelf Registration Statement"). As part of the 2022 Shelf Registration Statement, ChargePoint filed a prospectus supplement registering for sale from time to time up to $500.0 million shares of Common Stock pursuant to a sales agreement (the "2022 ATM Facility"). During the twelve months ended January 31, 2026, there were no sales of the Company's Common Stock pursuant to the 2022 ATM Facility. On July 11, 2025, ChargePoint terminated the 2022 ATM Facility, effective immediately. The 2022 Shelf Registration Statement expired on July 12, 2025.

On September 8, 2025, ChargePoint filed a registration statement on Form S-3 (File No. 333-290113) with the SEC (which was amended on December 5, 2025 and was declared effective by the SEC on December 8, 2025), which permits ChargePoint to offer up to $400.0 million of shares of Common Stock, preferred stock, debt securities, warrants and rights in one or more offerings and in any combination, including in units from time to time (the "2025 Shelf Registration Statement"). The 2025 Shelf Registration Statement includes a sales agreement prospectus pursuant to which ChargePoint may, from time to time, offer and sell up to $150.0 million shares of Common Stock pursuant to a new "at-the-market" sales agreement (the "2025 ATM Facility"). During the three months ended April 30, 2026, there were no sales of the Company's Common Stock pursuant to the 2025 ATM Facility.

***Long-Term Liquidity Requirements***

ChargePoint has incurred net losses and negative cash flows from operations since inception. Until ChargePoint can generate sufficient revenue to cover its cost of sales, operating expenses, working capital and capital expenditures, it expects to primarily fund cash needs through a combination of equity and debt financing. ChargePoint may borrow funds on terms that may include restrictive covenants, such as the restrictive covenants included in the 2025 Credit Agreement, including covenants that restrict the operation of its business, liens on assets, high effective interest rates and repayment provisions that reduce cash resources and limit future access to capital markets.

ChargePoint may continue to opportunistically seek access to additional funds through public or private equity offerings or debt financings, including through potential sales of Common Stock under its 2025 ATM Facility. If ChargePoint raises funds by issuing equity securities or debt securities convertible into equity securities, dilution to stockholders may result. Any equity securities issued may also provide for rights, preferences or privileges senior to those of holders of Common Stock. If ChargePoint raises funds by issuing debt securities, these debt securities would have rights, preferences and privileges senior to those of holders of Common Stock. The terms of debt securities or borrowings could impose significant restrictions on ChargePoint's operations and expose ChargePoint to enhanced risks associated with rising interest rates and elevated inflation. The capital markets have in the past, and may in the future, experience periods of higher volatility that could impact the availability and cost of equity and debt financing.

ChargePoint's principal use of cash in recent periods has been funding its operations and investing in capital expenditures. ChargePoint's future capital requirements will depend on many factors, including its revenue growth rate, the timing and the amount of cash received from customers, its efforts to reduce operating expenses, the timing and extent of spending to support development efforts, expenses associated with its reorganizations, the introduction of network enhancements and the continuing market adoption of its Networked Charging Systems. In the future, ChargePoint may enter into arrangements to acquire or invest in complementary businesses, products and technologies. ChargePoint may be required to seek additional equity or debt financing beyond the amounts available to it pursuant to the 2025 ATM Facility.

If ChargePoint requires additional financing, it may not be able to raise such financing on acceptable terms or at all, particularly if certain unfavorable economic and market conditions persist or worsen and a potential recession or other economic downturn would intensify these risks. If ChargePoint is unable to raise additional capital or generate cash flows necessary to optimize its operations and invest in continued innovation, it may not be able to compete successfully, which would harm its business, results of operations and financial condition. If adequate funds are not available, ChargePoint may need to reconsider its plans or limit its research, development and sales activities, which could have a material adverse impact on its business prospects and results of operations.

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**Cash Flows**

***For the Three Months Ended April 30, 2026 and 2025***

The following table sets forth a summary of ChargePoint's cash flows for the periods indicated:

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| | | |
|:---|:---|:---|
| | **Three Months Ended April 30,** | **Three Months Ended April 30,** |
| | **2026** | **2025** |
| | **(in thousands)** | **(in thousands)** |
| Net cash provided by (used in): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating activities | $(36560) | $(32968) |
| &nbsp;&nbsp;&nbsp;&nbsp;Investing activities | (1137) | (1060) |
| &nbsp;&nbsp;&nbsp;&nbsp;Financing activities | (7554) | 2437 |
| &nbsp;&nbsp;&nbsp;&nbsp;Effects of exchange rates on cash, cash equivalents, and restricted cash | (534) | 2969 |
| **Net decrease in cash, cash equivalents, and restricted cash** | $**(45785)** | $**(28622)** |

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***Net Cash Used in Operating Activities***

During the three months ended April 30, 2026, net cash used in operating activities was $36.6 million, consisting primarily of a net loss of $43.2 million and change in net operating assets of $3.1 million, partially offset by an add back of total non-cash charges of $9.7 million. The noncash charges consisted of $10.6 million of stock-based compensation expense, $7.1 million of depreciation, amortization, and amortization of deferred contract acquisition costs, $0.8 million of non-cash operating lease cost, $0.4 million of non-cash interest expenses and $0.3 million of foreign currency transaction loss, offset by $9.5 million of reserves and other costs. The change in operating assets and liabilities was mainly driven by a decrease in accounts payable, operating lease liabilities, and accrued and other liabilities of $20.3 million, increases in prepaid expenses and other assets of $2.5 million and decrease in deferred revenue of $1.5 million, offset by a decrease in inventories of $15.7 million and a decrease in accounts receivable, net, of $5.5 million.

During the three months ended April 30, 2025, net cash used in operating activities was $33.0 million, consisting primarily of a net loss of $57.1 million and change in net operating assets of $9.9 million, partially offset by an add back of non-cash charges of $34.1 million. The noncash charges consisted primarily of $17.9 million of stock-based compensation expense, $1.6 million of reserves and other costs, $7.8 million of depreciation, amortization, and amortization of deferred contract acquisition costs, $9.4 million non-cash interest expenses, and $0.9 million of non-cash operating lease cost, offset by $3.5 million of foreign currency transaction gains. The change in operating assets and liabilities was mainly driven by a decrease in accounts payable, operating lease liabilities, and accrued and other liabilities of $6.4 million, and an increase in prepaid expenses and other assets of $10.7 million, offset by a decrease in inventories of $2.8 million and an increase in deferred revenue of $4.4 million.

***Net Cash Used In Investing Activities***

During the three months ended April 30, 2026, net cash used in investing activities was $1.1 million related to purchases of property and equipment.

During the three months ended April 30, 2025, net cash used in investing activities was $1.1 million related to purchases of property and equipment.

***Net Cash Provided by Financing Activities***

During the three months ended April 30, 2026, net cash used in financing activities was $7.6 million, consisting of repayment of borrowings of $9.6 million, offset by change in driver funds and amounts due to customers of $1.6 million and proceeds from the issuance of Common Stock under employee equity plans of $0.4 million, net of tax withholding.

During the three months ended April 30, 2025, net cash provided by financing activities was $2.4 million, consisting of proceeds from the issuance of Common Stock under employee equity plans of $1.3 million, net of tax withholding, and change in driver funds and amounts due to customers of $1.1 million.

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**Off-Balance Sheet Arrangements**

ChargePoint is not a party to any off-balance sheet arrangements.

**Critical Accounting Policies and Estimates**

The Company's discussion and analysis of its financial condition and results of operations are based upon its condensed consolidated financial statements, which have been prepared in accordance with generally accepted accounting principles in the United States. The preparation of these condensed consolidated financial statements requires ChargePoint to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, cost of revenue and expenses. The Company evaluates its estimates and assumptions on an ongoing basis, and bases its estimates on historical experience and on various other assumptions that ChargePoint believes to be reasonable under the circumstances, the results of which form the basis for the judgments ChargePoint makes about the carrying value of assets and liabilities that are not readily apparent from other sources. Because these estimates can vary depending on the situation, actual results may differ from these estimates. Making estimates and judgments about future events is inherently unpredictable and is subject to significant uncertainties, some of which are beyond ChargePoint's control. Should any of these estimates and assumptions change or prove to have been incorrect, it could have a material impact on ChargePoint's results of operations, financial position and statement of cash flows.

Other than the policies noted in Part I, Item 1, Note 2, *Summary of Significant Accounting Policies*, in the Company's notes to condensed consolidated financial statements in this Quarterly Report, there have been no material changes to its critical accounting policies and estimates as compared to those disclosed in its audited consolidated financial statements as of January 31, 2026 included in the Company's Annual Report on Form 10-K filed with the SEC on April 2, 2026.

***Recent Accounting Pronouncements***

For a description of recent accounting pronouncements, including the expected dates of adoption and estimated effects, if any, on ChargePoint's condensed consolidated financial statements, see Part I, Item 1, Note 2, *Summary of Significant Accounting Policies*, in its notes to condensed consolidated financial statements in this Quarterly Report.

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**ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

*Interest Rate Risk*

ChargePoint is exposed to market risk for changes in interest rates. ChargePoint had cash, cash equivalents and restricted cash totaling $96.2 million as of April 30, 2026. Cash equivalents are invested primarily in money market funds. ChargePoint's investment policy is focused on the preservation of capital and supporting its liquidity needs. Under the policy, ChargePoint historically invests in highly rated securities issued by the U.S. government, and short duration or liquid money market funds. ChargePoint does not invest in financial instruments for trading or speculative purposes, nor does it use leveraged financial instruments. ChargePoint utilizes external investment managers who adhere to the guidelines of its investment policy.

*Foreign Currency Risk*

ChargePoint has foreign currency risks related to its revenue and operating expenses denominated in currencies other than the U.S. dollar, primarily the euro, causing both its revenue and its operating results to be impacted by fluctuations in the exchange rates. As ChargePoint's foreign operations expand, its results may be more materially impacted by fluctuations in the exchange rates of the currencies in which it does business.

Gains or losses from the revaluation of certain cash balances, accounts receivable balances and intercompany balances that are denominated in these currencies can impact ChargePoint's net loss. A hypothetical decrease in all foreign currencies against the U.S. dollar of 10% would not result in a material foreign currency loss on foreign-denominated balances as of April 30, 2026. There was no material change in ChargePoint's foreign currency risk during the three months ended April 30, 2026 compared to the same period in 2025.

At this time, ChargePoint does not enter into financial instruments to hedge its foreign currency exchange risk, but it may do so in the future if our exposure to foreign currency should become more significant. As our international operations grow, we will continue to reassess our approach to manage our risk relating to fluctuations in currency rates.

**ITEM 4. CONTROLS AND PROCEDURES**

**Evaluation of Disclosure Controls and Procedures**

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in the reports filed or submitted under the Securities Exchange Act of 1934, as amended, ("Exchange Act") is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is accumulated and communicated to management, including ChargePoint's Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure. In designing and evaluating disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In addition, the design of disclosure controls and procedures must reflect the fact that there are resource constraints and that management is required to apply judgment in evaluating the benefits of possible controls and procedures relative to their costs.

ChargePoint's management, with participation of its Chief Executive Officer and Chief Financial Officer, evaluated, as of the end of the period covered by this Quarterly Report, the effectiveness of ChargePoint's disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act). Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that ChargePoint's disclosure controls and procedures were effective at the reasonable assurance level as of April 30, 2026.

**Changes in Internal Control Over Financial Reporting**

There have been no changes in internal control over financial reporting during the quarter ended April 30, 2026 that have materially affected, or are reasonably likely to materially affect, ChargePoint's internal control over financial reporting.

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**PART II: OTHER INFORMATION**

**ITEM 1. LEGAL PROCEEDINGS**

From time to time, ChargePoint Holdings, Inc. ("ChargePoint" or the "Company", or "we", "us", "our" and similar terms) may be involved in legal proceedings or subject to claims incident to the ordinary course of business. Regardless of the outcome, such proceedings or claims can have an adverse impact on ChargePoint because of defense and settlement costs, diversion of resources and other factors, and there can be no assurances that favorable outcomes will be obtained.

More information with respect to this item may be found in Note 7, *Commitments and Contingencies*, in the accompanying notes to the condensed consolidated financial statements included in Part I, Item 1, "Financial Statements" of this Quarterly Report on Form 10-Q, under "Legal Proceedings" which is incorporated herein by reference.

**ITEM 1A. RISK FACTORS**

*An investment in ChargePoint's securities involves a high degree of risk. You should carefully consider the risks described below before making an investment decision. ChargePoint's business, prospects, financial condition, or operating results could be harmed by any of these risks, as well as other risks not known to ChargePoint or that it considers immaterial as of the date of this quarterly report on Form 10-Q (this "Quarterly Report"). The trading price of ChargePoint's securities could decline due to any of these risks, and, as a result, you may lose all or part of your investment.* 

**Summary of Principal Risks Associated with ChargePoint's Business**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint operates in the early-stage market of electric vehicle ("EV") adoption and has a history of losses and negative cash flows from operating activities, and expects to incur significant expenses and continuing losses for the near term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint operates in a dynamic and rapidly evolving industry. If it fails to manage growth effectively, its business, operating results and financial condition could be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint's success depends on ChargePoint's ability to improve its financial and operational performance and execute its business strategy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint's future growth and success is highly dependent upon the continuing adoption of EVs for passenger and fleet applications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint currently faces intense competition and expects to face significant competition in the future as the market for EV charging develops.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If ChargePoint is unable to accurately anticipate market demand for its products, ChargePoint may have difficulty managing its production and inventory and ChargePoint's operating results could be harmed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint relies on a third-party channel partner network of distributors and resellers to generate a substantial amount of its revenue, and failure on the part of ChargePoint to continue to develop and expand this network may have an adverse impact on its business and prospects for growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Failure to effectively expand ChargePoint's sales and marketing capabilities could harm its ability to increase its customer base and achieve broader market acceptance of its solutions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adverse economic conditions or reduced spending by ChargePoint's customers may adversely impact its business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Supply chain disruptions, component shortages, increased tariffs, manufacturing interruptions or delays could adversely affect ChargePoint's ability to meet customer demand, lead to higher costs, and adversely affect ChargePoint's business and results of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint relies on a limited number of suppliers and manufacturers for its charging stations. A loss of any of these partners could negatively affect its business.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint's business is subject to risks associated with construction, cost overruns and delays, and other contingencies that may arise in the course of completing installations, and such risks may increase in the future as ChargePoint expands the scope of such services with other parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If ChargePoint is unable to attract and retain key employees and hire qualified management, technical engineering and sales personnel, its ability to compete and successfully grow its business would be harmed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint has expanded operations internationally, particularly in Europe, which will expose it to additional tax, compliance, market and other risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint's future revenue growth will depend in significant part on its ability to increase sales of its products and services to fleet operators.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Acquisitions or strategic investments could be difficult to identify and integrate, divert the attention of key management personnel, disrupt ChargePoint's business, dilute stockholder value and adversely affect its results of operations and financial condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The EV market currently benefits from the availability of rebates, tax credits and other financial incentives from governments, utilities and others to offset the purchase or operating costs of EVs and EV charging stations. The reduction, modification, or elimination of such benefits could cause reduced demand for EVs and EV charging stations, which would adversely affect ChargePoint's financial results.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint's business may be adversely affected if it is unable to protect its technology and intellectual property from unauthorized use by third parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint is highly reliant on its networked charging solution and information technology systems and data, and those of its service providers and component suppliers; any of these systems and data may be subject to cyber-attacks, service disruptions or other security incidents, which could result in data breaches, loss or interruption of services, intellectual property theft, claims, litigation, regulatory investigations, significant liability, reputational damage and other adverse consequences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Computer malware, viruses, ransomware, hacking, phishing attacks and similar disruptions could result in security and privacy breaches and interruption in service, which could harm ChargePoint's business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Future sales of ChargePoint's common stock ("Common Stock") in the public market, or the perception that such sales may occur, could reduce ChargePoint's stock price, and any conversions of the 2028 Convertible Notes will, and any additional capital raised through the sale of equity or any future convertible securities ChargePoint may issue could, dilute existing stockholders' ownership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint has entered into the 2025 Credit Agreement, which imposes certain restrictions on its business and operations that may affect its ability to operate its business and make payments on its indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint may need to raise additional funds to support its operations and these funds may not be available when needed or may not be available on terms that are favorable to ChargePoint.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint has incurred substantial indebtedness that may decrease its business flexibility, access to capital, and/or increase its borrowing costs, and ChargePoint may still incur substantially more debt, which may adversely affect its operations and financial results.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint has never paid cash dividends on its capital stock and does not anticipate paying dividends in the foreseeable future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The price of ChargePoint's Common Stock may be subject to wide fluctuations and purchasers of ChargePoint's Common Stock could incur substantial losses.

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**Risks Related to ChargePoint's Business**

***ChargePoint operates in the early-stage market of EV adoption and has a history of losses and negative cash flows from operating activities, and expects to incur significant expenses and continuing losses for the near term.***

ChargePoint incurred net losses of $220.2 million for the fiscal year ended January 31, 2026 and had net loss of $43.2 million for the three months ended April 30, 2026. As of April 30, 2026, ChargePoint had an accumulated deficit of $2,154.8 million. ChargePoint incurred negative cash flows from operating activities of $36.6 million for the three months ended April 30, 2026.

ChargePoint believes it will continue to incur significant operating expenses and net losses in future quarters for the near term. There can be no assurance that it will be able to achieve or maintain profitability in the future. ChargePoint's potential profitability is particularly dependent upon the continued adoption of EVs by consumers and fleet operators and the widespread adoption of electric fleets and other electric transportation modalities, each of which are still in the early stages of widespread adoption and may not occur with the volume and timing that ChargePoint expects. For instance, the North American EV market has recently suffered a substantial decline in the sale of new EVs since the termination of the $7,500 U.S. federal tax credit in September 2025, resulting in quarterly declines of new EVs sold as compared to the same quarters in the prior year. Any prolonged decrease in demand for new EVs or networked charging systems ("Networked Charging Systems"), or any delays in discretionary purchases of EV infrastructure, such as charging stations, by commercial, fleet or residential consumers may result in slowing growth or decreased revenue for ChargePoint which may adversely affect its gross margins and could materially adversely affect ChargePoint's business and results of operations.

***ChargePoint operates in a dynamic and rapidly evolving industry. If it fails to manage growth effectively, its business, operating results and financial condition could be adversely affected.***

ChargePoint operates in the evolving EV mobility industry that is characterized by rapid and unpredictable shifts in technological innovation and leaders, intense competition, changing EV adoption rates and customer preferences, evolving and shifting production and manufacturing plans from EV manufacturers and frequent introductions of new products, technologies, and services. ChargePoint may not be able to adapt to the dynamic nature of the evolving EV mobility industry, sustain the pace of improvements to its products successfully, manage its growth successfully or implement systems, processes, and controls in an efficient or timely manner or in a manner that does not negatively affect the results of its operations. The growth and expansion of its business has placed and continues to place a significant strain on management, operations, financial infrastructure and corporate culture.

To manage expansion in operations and personnel, ChargePoint will need to continue to improve its operational, financial and management controls and reporting systems and procedures. Failure to manage growth effectively could result in difficulty or delays in attracting new customers, declines in quality or customer satisfaction, increases in costs, difficulties in introducing new products and services or enhancing existing products and services, loss of customers, inability to retain or hire new employees effectively, information security vulnerabilities or other operational difficulties, any of which could adversely affect its business performance and operating results.

In the event of further growth, ChargePoint must continue to improve and expand its information technology and financial infrastructure, security and compliance requirements, operating and administrative systems, relationships with various partners and other third parties, and its ability to manage headcount and processes in an efficient manner to manage its growth effectively. ChargePoint's information technology systems and ChargePoint's internal control over financial reporting and procedures may not be adequate to support its operations and may introduce opportunities for data security incidents that may interrupt business operations and permit bad actors to obtain unauthorized access to business information or misappropriate funds. ChargePoint may also face risks to the extent such bad actors infiltrate the information technology infrastructure of its contractors.

ChargePoint has encountered, and will continue to encounter, risks and uncertainties frequently experienced by growing companies in evolving industries. In addition, ChargePoint's future growth rate is subject to a number of uncertainties, such as general economic and market conditions. In particular, ChargePoint has limited experience operating its business at its current scale under economic conditions characterized by high inflation, imposition of domestic and foreign tariffs, or in recessionary or uncertain economic environments. General economic and market conditions, consumer preferences, market demand, governmental and legislative initiatives or lack thereof, may diminish the rate of EV adoption or result in delays by EV manufacturers to transition their manufacturing to mostly or exclusively electric vehicles or cause EV manufacturers to eliminate their plans to transition to predominately EV manufacturing, and if such factors exist or persist, the demand for ChargePoint's products and services could be adversely affected. If ChargePoint's assumptions regarding these risks and uncertainties are incorrect or change in reaction to changes in the market or the economy, or if ChargePoint does not address

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these risks successfully, ChargePoint's results of operations could differ materially from its expectations, and ChargePoint's business, results of operations, and financial condition would be adversely affected.

***ChargePoint's success depends on ChargePoint's ability to improve its financial and operational performance and execute its business strategy.***

If ChargePoint fails to implement its business strategy, its financial condition and results of operations could be adversely affected. ChargePoint's future financial performance and success depend in large part on its management team's ability to successfully implement its business strategy. ChargePoint's management team may not successfully implement its business strategy or be able to continue improving ChargePoint's operating results. In particular, ChargePoint's management team may not be able to successfully execute ongoing, or any future, operational efficiency programs or operating cost savings initiatives, customer satisfaction and product performance initiatives or implement ChargePoint's strategic software platform initiatives. Implementation of ChargePoint's business strategy may be impacted by factors outside of its control, including competition, national and international automotive industry trends, component price fluctuations, industry, legal and regulatory changes or developments and general economic and political conditions. Furthermore, ChargePoint may decide to alter or discontinue certain aspects of its business strategy at any time. Any failure on the part of ChargePoint's management team to successfully implement ChargePoint's business strategy could adversely affect its financial condition and results of operations.

***ChargePoint currently faces intense competition and expects to face significant competition in the future as the market for EV charging develops.***

The EV charging market is relatively new and competition is still developing. Generally, ChargePoint competes with manufacturers of non-networked hardware charging systems, software providers that offer solutions to access and manage non-networked hardware charging systems, and charge point operators ("CPOs") or auto OEMs that acquire access to sites and leverage first or third-party hardware and software to build out charging infrastructure to sell energy. Large early-stage markets require early engagement across verticals and customers to gain market share, and ongoing effort to scale channels, installers, teams and processes. In Europe particularly, some customers require solutions not yet available and ChargePoint's entrance into Europe requires establishing itself against existing competitors. In addition, there are multiple competitors in North America and Europe with limited funding, which could cause poor user experiences, hampering overall EV adoption or trust in any particular provider.

There are other means for charging EVs, which could affect the level of demand for onsite charging capabilities at businesses. In addition to competition from established EV charging station network providers, third-party contractors can provide basic electric charging capabilities to potential customers seeking to have on-premises EV charging capability or individual customers seeking home charging. Finally, many EV charging manufacturers, including ChargePoint, are offering home charging equipment, which could reduce demand for commercial charging capabilities of potential customers and reduce the demand for commercial charging capabilities if EV owners find charging at home to be sufficient.

Further, ChargePoint's current or potential competitors may be acquired by third-parties with greater available resources, may have ready access to the capital markets for additional funding, or may operate in lower cost manufacturing or development geographies, such as Asia or Latin America. As a result, competitors may be able to respond more quickly and effectively than ChargePoint to new or changing opportunities, technologies, standards or customer requirements and may have the ability to initiate or withstand substantial price competition. ChargePoint's competitors, either as the result of such competitor's market position, available human and capital resources advantages or industrial scale may be able to influence EV adoption or the overall market for EV charging, in both North America and Europe. In addition, competitors may in the future establish cooperative relationships with vendors of complementary products, technologies or services to increase the availability of their solutions in the marketplace. This competition may also materialize in the form of costly intellectual property disputes or litigation involving ChargePoint. If ChargePoint fails to compete with third-parties with greater available resources, is unable to successfully influence state, local and federal governmental policies with respect to the EV charging market like its competitors or successfully partner with cooperative industry efforts in the EV charging market, its growth and revenue will be limited which would adversely affect its business and results of operations.

New competitors or alliances may emerge in the future that have greater market share, more widely adopted proprietary technologies, greater marketing expertise and greater financial resources, which could put ChargePoint at a competitive disadvantage. Future competitors could also be better positioned to serve certain sectors of ChargePoint's current or future target markets, which could create price pressure, in North America and Europe. In light of these factors, even if ChargePoint believes its offerings are more effective and higher quality than those of its competitors, current or potential customers may purchase its competitor's solutions if they are less expensive or more widely available. If ChargePoint fails to adapt to changing

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market conditions or compete successfully with existing EV charging station providers or new competitors, its growth and revenue will be limited which would adversely affect its business and results of operations.

***ChargePoint's business, operating efficiency and competitive position may be adversely affected if it does not successfully identify, develop, integrate and deploy artificial intelligence and other advanced automation technologies in a timely, effective and compliant manner.***

The EV charging industry, energy infrastructure markets and enterprise software ecosystems in which ChargePoint operates are experiencing rapid technological change, including increased adoption of artificial intelligence ("AI"), machine learning, advanced analytics and automation across product development, network operations, customer support, billing, fraud detection, cybersecurity, manufacturing, logistics and other business processes. To remain competitive and operate efficiently at scale, ChargePoint may need to incorporate such technologies into its products, services and internal systems. Failure to do so could place ChargePoint at a competitive disadvantage, reduce operating efficiency, increase costs, limit the functionality or performance of its solutions, or impair its ability to meet customer, regulatory or partner expectations.

ChargePoint has implemented, and intends to implement in the future, initiatives to deploy AI technologies, agentic AI solutions and AI-enabled capabilities in its ChargePoint Platform, eMSP driver application, customer support solutions and in internal enterprise systems. However, successfully adopting and implementing AI technologies involves significant operational, technical, financial and organizational challenges, including assessing appropriate use cases; ensuring data quality, availability and governance; integrating AI-enabled capabilities into legacy systems and complex workflows; managing dependencies on third-party technology providers; recruiting and retaining specialized personnel; and establishing appropriate oversight, controls and risk management processes. ChargePoint may incur substantial costs and devote significant management attention to these efforts, and AI-related initiatives may not be completed on schedule, operate as intended or deliver anticipated benefits. In addition, evolving cybersecurity, data privacy, regulatory and stakeholder requirements may constrain or delay deployment or require costly modifications. If ChargePoint is unable to successfully implement AI-enabled capabilities while competitors or partners do so more effectively, it may experience reduced demand for its solutions, pricing pressure, loss of market share, higher operating costs, reduced margins or slower growth, any of which could adversely affect its business, results of operations and financial condition.

***If ChargePoint is unable to accurately anticipate market demand for its products, ChargePoint may have difficulty managing its production and inventory and ChargePoint's operating results could be harmed.***

ChargePoint derives a substantial portion of its overall revenue from the sale of its Networked Charging Systems. ChargePoint believes the penetration of EVs in the United States and Europe is heavily reliant on EV availability, consumer adoption of EVs, the availability and reliability of EV infrastructure and government mandates and incentive programs tied to EV adoption. Any sustained downturn in demand for EVs or EV infrastructure, such as decreased demand in EV charging stations, would harm ChargePoint's business. For example, increased interest rates, an overall slowdown in economic activity, a recession or the possibility of a recession in the United States or Europe, elimination of government mandates and incentive programs, and increased tariffs, especially those targeted at the automotive industry may decrease the overall demand for EVs or EV infrastructure such as ChargePoint's Networked Charging Systems. For instance, the North American EV market has recently suffered a substantial decline in the sale of new EVs since the termination of the $7,500 U.S. federal tax credit in September 2025, resulting in quarterly declines of new EVs sold as compared to the same quarters in the prior year. Any prolonged decrease in demand for new EVs or Networked Charging Systems, or any delays in discretionary purchases of EV infrastructure, such as charging stations, by commercial, fleet or residential consumers may result in slowing growth or decreased revenue for ChargePoint which may adversely affect its gross margins and could materially adversely affect ChargePoint's business and results of operations.

ChargePoint seeks to maintain sufficient levels of inventory in order to avoid supply interruptions and keep sufficient amounts of finished products on hand while also avoiding accumulating excess inventory which increases working capital needs and lowers gross margin. In recent quarters, ChargePoint has maintained elevated levels of inventory, and ChargePoint is also preparing for the introduction of its next generation AC and DC Networked Charging System models, which increases the complexity of inventory management and heightens the risk that certain existing products or components may become excess, obsolete, or subject to inventory write-downs. To ensure adequate inventory supply and manage ChargePoint's operations with its third-party manufacturers and suppliers, ChargePoint forecasts material requirements and demand for its products in order to predict future inventory needs and then places orders with its suppliers based on these predictions. ChargePoint's ability to accurately forecast demand for its products could be negatively affected by many factors, including rapid or slowing growth, failure to accurately manage ChargePoint's expansion strategy, new product introductions by ChargePoint or its competitors, an increase or decrease in customer demand for ChargePoint products, ChargePoint's failure to accurately forecast customer acceptance of new products, unanticipated changes in general market conditions or regulatory matters, and the weakening of

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economic conditions or consumer confidence in future economic conditions. The introduction of new AC and DC products may further increase these risks, as demand for legacy products may decline more rapidly than anticipated, channel partners or customers may delay purchases in anticipation of newer offerings, or certain components or finished goods may not be usable across product generations. In addition, the majority of ChargePoint's products are sold through its channel partners, distributors and resellers and, as a result, ChargePoint is highly reliant on the sales forecasting, sell-through activities and inventory management of its channel partners. If ChargePoint's channel partners are not effective or efficient in forecasting sales, or sales of particular products, or managing their inventory levels or sell-through expectations then ChargePoint's management of inventory levels, sales forecasts and parts ordering may be adversely affected which may harm ChargePoint's financial conditions and results of operations.

Inventory levels in excess of customer demand may result in a portion of ChargePoint's inventory becoming obsolete, as well as inventory write-downs or write-offs. Conversely, if ChargePoint underestimates customer demand for its products or its own requirements for components, sub-assemblies, and materials, ChargePoint's third-party manufacturers and suppliers may not be able to deliver components, sub-assemblies, and materials to meet ChargePoint's standards, lead times or requirements, which could result in inadequate inventory levels or interruptions, delays, or cancellations of deliveries to ChargePoint's customers, any of which would damage its reputation, customer relationships, and business. In addition, components, sub-assemblies, and materials incorporated into ChargePoint products may require lengthy order lead times. As a result, additional supplies or materials may not be available on terms that are acceptable to ChargePoint or at all, and ChargePoint's third-party manufacturers and suppliers may not be able to allocate sufficient capacity in order to meet ChargePoint's increased requirements, any of which could have an adverse effect on ChargePoint's ability to meet customer demand for its products and results of operations. ChargePoint has in the past experienced fluctuating demand for certain product lines which led to excess inventory that caused ChargePoint to write down, sell at prices lower than expected or discard such inventory and similar outcomes could occur in the future. If ChargePoint is not successful in managing its inventory, ChargePoint's business, financial condition and results of operations could be adversely affected.

***ChargePoint relies on a third-party channel partner network of distributors and resellers to generate a substantial amount of its revenue and failure on the part of ChargePoint to continue to develop and expand this network may have an adverse impact on its business and prospects for growth.***

ChargePoint's success is dependent in part upon establishing and maintaining relationships with a variety of channel partners that it utilizes to extend its geographic reach and market penetration, particularly in the United States. ChargePoint uses a two-tiered, indirect fulfillment model whereby ChargePoint sells its products and services to its distributors, which in turn sell to resellers, which then sell to end users. ChargePoint refers to these end users as customers. ChargePoint anticipates that it will continue to rely on this two-tiered sales model in order to help facilitate sales of ChargePoint's products and to grow its business internationally. In the fiscal years ended January 31, 2026, 2025, and 2024, ChargePoint derived a majority of its billings from products and subscriptions sold through channel partners.

ChargePoint's agreements with its channel partners are non-exclusive and do not prohibit them from working with ChargePoint's competitors or offering competing solutions, and some of ChargePoint's channel partners may have more established relationships with ChargePoint's competitors. Similarly, ChargePoint's channel partners have no obligations to renew their agreements with ChargePoint on commercially reasonable terms or at all, and certain of the agreements governing these relationships may be terminated by either party at any time, with no or limited notice. Further, in May 2025, ChargePoint announced a strategic partner relationship with Eaton Corporation ("Eaton"), an industry leading power management company, to facilitate sales and distribution of ChargePoint's products and services through Eaton's channel network, as well as collaborate on new product development to optimize value to end users. The utilization of the Eaton's channel network may result in higher concentration of a material amount of channel sales through Eaton's network, with ChargePoint continuing to maintain relationships with channel distributors, including in training and sales support. If ChargePoint fails to execute or perform its obligations under the strategic relationship or Eaton fails to meet its sales targets, execute marketing strategies, or successfully execute sales processes, ChargePoint's reputation, customer relationships, revenue and financial performance could be adversely affected.

If ChargePoint's channel partners choose to place greater emphasis on products of their own or those offered by ChargePoint's competitors or as a result of an acquisition, competitive factors, ChargePoint's strategic channel partnership, or for other reasons do not continue to market and sell ChargePoint's solutions in an effective manner or at all, ChargePoint's ability to grow its business and sell its products may be adversely affected. In addition, ChargePoint's failure to recruit additional channel partners, or any reduction or delay in their sales of ChargePoint solutions and subscriptions, including because of economic uncertainty, or due to conflicts between channel sales and ChargePoint's direct sales force may harm ChargePoint's results of operations. Finally, even if ChargePoint is successful in establishing and maintaining relationships

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with channel partners, these relationships may not result in greater customer usage of ChargePoint's solutions and professional services or increased revenue.

***Failure to effectively expand ChargePoint's sales and marketing capabilities could harm its ability to increase its customer base and achieve broader market acceptance of its solutions.***

ChargePoint's ability to grow its customer base, achieve broader market acceptance, grow revenue, and achieve and sustain profitability will depend, to a significant extent, on its ability to effectively expand its sales and marketing operations and activities. Sales and marketing expenses represent a significant percentage of ChargePoint's total revenue, and its operating results will suffer if sales and marketing expenditures do not contribute significantly to increasing revenue. ChargePoint is substantially dependent on its channel partners and direct sales force to obtain new customers. ChargePoint must expend considerable time, effort and cost to train and support its channel partners' sales forces and there is no guarantee that such efforts will be successful or result in an increase of sales of ChargePoint products or an increase in its revenues. If ChargePoint is unable to successfully train and develop the sales forces of its channel partners, including its strategic channel partnership, or if ChargePoint fails to adequately execute on such arrangements, ChargePoint's revenues may suffer which would adversely affect its business and results of operations.

Additionally, ChargePoint may not be able to recruit, hire and retain a sufficient number of sales personnel, which may adversely affect its ability to expand its sales capabilities. New hires require significant training and time before they achieve full productivity, particularly in new sales territories. Recent hires and planned hires may not become as productive as quickly as anticipated and ChargePoint may be unable to hire or retain sufficient numbers of qualified individuals. Furthermore, hiring sales personnel in new countries can be costly, complex and time-consuming, and requires additional set up and upfront costs that may be disproportionate to the initial revenue expected from those countries. There is significant competition for direct sales personnel with strong sales skills and technical knowledge. ChargePoint's ability to achieve significant revenue growth in the future will depend, in large part, on its success in recruiting, training, incentivizing and retaining a sufficient number of qualified direct sales personnel and on such personnel attaining desired productivity levels within a reasonable amount of time. ChargePoint's business will be harmed if continuing investment in its sales and marketing capabilities does not generate a significant increase in revenue.

***Adverse economic conditions or reduced spending by ChargePoint's customers may adversely impact its business.***

ChargePoint's business depends on the economic health of its current and prospective customers and overall demand for EV charging infrastructure. In addition, the purchase of ChargePoint products and services is often discretionary and typically involves a significant commitment of capital and other resources. The United States, the European Union ("EU"), and the United Kingdom have experienced recently higher levels of inflation. In response, and due to recession fears, the U.S. Federal Reserve, the European Central Bank, and the Bank of England have in the past raised and have indicated they may maintain higher interest rates and implement fiscal policy interventions. While these interventions have resulted in lowering inflation in recent quarters, there is no guarantee that these measures will maintain lower inflation and it may be necessary for central banks to increase interests rates again in the future in the event high levels of inflation resume. These actions may also reduce economic growth rates, create a recession, and have other similar effects.

In February 2026, the United States Supreme Court issued a ruling striking down certain tariffs previously imposed under the International Emergency Economic Powers Act ("IEEPA"). Following the Supreme Court's decision, the U.S. federal government announced its intention to implement new tariffs and surcharges of up to 15% on imports from many of the same countries previously subject to IEEPA under separate authority, including Section 122 of the Trade Act of 1974. There remains substantial uncertainty regarding the duration of existing and newly announced tariffs and surcharges, potential changes or pauses to such tariffs, tariff levels, and whether further additional tariffs or other retaliatory actions may be imposed, modified, or suspended, and the impacts of such actions on ChargePoint's business. Trade restrictions and increased tariffs between the United States and countries like Canada, Mexico, China and members of the EU may result in adverse economic conditions, increase the costs of goods sold and result in a recession or the threat of a recession. For example, the United States automotive manufacture industry is particularly sensitive to the impact of tariffs on the increased costs of manufacturing and selling vehicles, which may result in substantial increases to the cost of vehicles to consumers, including EVs. Because ChargePoint is substantially reliant on the increased adoption and sales of new EVs, if there is any downturn in the sales of EVs or consumers reduce their purchases of new EVs, either because the vehicles are more expensive or as the result of a general downturn in the overall economy, ChargePoint's customers may reduce their need for EV infrastructure development and ChargePoint's business, financial results and results of operations may be harmed.

A downturn in macroeconomic conditions, including a resumption in the rise of inflation and interest rates; increases or changes in U.S. or global tariff policies and programs and any corresponding supply chain disruptions; global political and

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economic uncertainty; geopolitical tensions, such as the ongoing Russia-Ukraine conflict, ongoing conflicts in the Middle East involving the United States, Iran, Israel and other Gulf States and conflict or sanctions between the United States and China; a lack of availability of credit; financial services sector instability; a reduction in business confidence and activity; and other factors have in the past, and may in the future, negatively affect the industries to which ChargePoint sells its products and services. ChargePoint's customers may suffer from reduced operating budgets, which could cause them to defer, reduce, or forego purchases of ChargePoint's products or services. Moreover, competitors may respond to market conditions by lowering prices, which may make the prices for ChargePoint's products and services less competitive or cause ChargePoint to reduce its prices, which in turn may reduce ChargePoint's gross margins and adversely affect ChargePoint's growth. Uncertainty about global and regional economic conditions, a downturn in the sale or delivery of EVs, or a reduction in EV infrastructure spending even if economic conditions are stable, could adversely impact ChargePoint's business, financial condition, and results of operations.

***Supply chain disruptions, component shortages, increased tariffs, manufacturing interruptions or delays could adversely affect ChargePoint's ability to meet customer demand, lead to higher costs, and adversely affect ChargePoint's business and results of operations.***

ChargePoint depends on the timely supply of materials, services and related products to meet the demands of its customers, which depends in part on the timely delivery of materials and services from suppliers and contract manufacturers. Significant or sudden increases in demand for EV charging stations, as well as worldwide demand for the raw materials and services that ChargePoint requires to manufacture and sell EV charging stations, including component parts, may result in a shortage of such materials or may cause shipment delays due to transportation interruptions or capacity constraints. Such shortages or delays could adversely impact ChargePoint's suppliers' ability to meet ChargePoint's demand requirements.

Disruptions in the manufacturing, delivery and overall supply chain of EV manufacturers and suppliers have in the past and may in the future result in additional costs and, to a lesser extent, component shortages, and have led to fluctuations in EV sales in markets around the world. Increased demand for personal electronics and trade restrictions that affect raw materials have contributed in the past and may in the future result in a shortfall of components and supplies, such as semiconductor chips, which has caused supply challenges both within and outside of ChargePoint's industry. Supply chain challenges, component shortages and heightened logistics costs have previously adversely affected ChargePoint's gross margins and may do so again in the future. ChargePoint may need to incur additional costs to expedite delivery of components and replacement parts used in charging stations or in providing installation or maintenance services or to proactively increase inventory. In the event ChargePoint is required to take such actions, ChargePoint may need to raise its prices, impose surcharges or other fees or refuse to negotiate discounts.

ChargePoint may also experience significant interruptions of its manufacturing operations, delays in its ability to deliver products, or increased costs as a result of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the failure or inability to accurately forecast demand and obtain sufficient quantities of components, materials or replacement parts on a cost-effective basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• volatility in the availability and cost of materials or services, including rising prices due to inflation, imposition of tariffs, sanctions or any trade wars with countries that are critical to ChargePoint's supply chain or contract manufacturing partners such as Mexico, China and Taiwan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• shipment delays due to transportation interruptions or capacity constraints, such as reduced availability of air, shipping or ground transport or port closures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• information technology or infrastructure failures, including those of a third party supplier or service provider;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties or delays in obtaining required import or export approvals;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• natural disasters or other events beyond ChargePoint's control (such as earthquakes, utility interruptions, tsunamis, hurricanes, typhoons, floods, storms or extreme weather conditions, fires, regional economic downturns, regional or global health epidemics); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• geopolitical turmoil, including the ongoing Ukraine-Russia conflict and ongoing conflicts in the Middle East involving the United States, Iran, Israel and other Gulf States, rising political tensions with China or increased trade restrictions between the United States, Canada, Mexico, Russia, China and other countries, social unrest, political instability, terrorism, or other acts of war which may further adversely impact supply chains, shipping, transportation and logistics disruptions.

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In addition to the tariffs, the United States has imposed extensive export controls, targeted primarily at the semiconductor industry, in China. China has in the past and may in the future retaliate to such measures. If China imposes retaliatory tariffs, or if there is a conflict between China and Taiwan, which is a leading producer of semiconductors, there could be further disruption to the semiconductor industry and global supply chains. ChargePoint or the suppliers it procures components from may be unable to manufacture products at prices ChargePoint's customers would accept, or at all. Any inability to pass on future increased costs to customers would put downward pressure on ChargePoint's gross margins and adversely affect ChargePoint's business, results of operations and financial condition. In addition, while ChargePoint has not yet experienced a direct impact to its supply chain due to geopolitical conflicts, ChargePoint may experience an impact in the future due to increased fuel and shipping costs, limited supply of, or tariffs imposed on, components or replacement parts used by ChargePoint in its manufacturing process or the automotive industry in general, and delays caused by changes to global shipping routes and logistics. Such adverse impacts on ChargePoint's supply chain could limit its ability to manufacture and sell its products on a timely and cost-effective basis and adversely affect its gross margins, which could materially adversely affect ChargePoint's business and results of operations.

***ChargePoint relies on a limited number of suppliers and manufacturers for its charging stations. A loss of any of these partners could negatively affect its business.***

ChargePoint relies on a limited number of suppliers to manufacture its Networked Charging Systems, including in some cases only a single supplier for some products and components. This reliance on a limited number of manufacturers increases ChargePoint's risks, since it does not currently have proven reliable alternatives or replacement manufacturers beyond these key parties. In the event of interruption, including or resulting in a sudden failure by a supplier to meet its obligation, ChargePoint may not be able to increase capacity from other sources or develop alternate or secondary sources without incurring material additional costs and substantial delays. Thus, ChargePoint's business could be adversely affected if one or more of its suppliers is impacted by any interruption at a particular location.

If the demand for EV charging increases, ChargePoint's suppliers and contract manufacturers may not be able to dedicate sufficient supply chain, production or sales channel capacity to keep up with the required pace of charging infrastructure expansion. By relying on contract manufacturing, ChargePoint is dependent upon the manufacturer, whose interests may be different from ChargePoint's. For example, ChargePoint's suppliers and contract manufacturers may have other customers with demand for the same components or manufacturing services and may allocate their resources based on the supplier's or manufacturer's interests or needs to maximize their revenue or relationships with other customers rather than ChargePoint's interest. As a result, ChargePoint may not be able to assure itself that it will have sufficient control over the supply of key components, inventory or finished goods in a timely manner or with acceptable cost and expense, which may adversely affect ChargePoint's revenue, cost of goods and gross margins.

If ChargePoint experiences a significant increase in demand for its charging stations in future periods, or if it needs to replace an existing supplier, it may not be possible to supplement or replace them on acceptable terms, which may undermine its ability to deliver products to customers in a timely manner. For example, it may take a significant amount of time to identify a manufacturer that has the capability and resources to build charging stations in sufficient volume. Identifying suitable suppliers and manufacturers could be an extensive process that requires ChargePoint to become satisfied with such party's quality control, technical capabilities, responsiveness and service, financial stability, regulatory compliance, and labor and other ethical practices. Accordingly, a loss of any significant suppliers or manufacturers could have an adverse effect on ChargePoint's business, financial condition and operating results. In addition, ChargePoint's suppliers or contract manufacturers may face supply chain risks and regulatory constraints of their own, which may impact the availability and pricing of its products to ChargePoint, for instance, in the event such supplier or contract manufacturer becomes subject to tariffs imposed by the United States federal government.

In addition, ChargePoint is subject to requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the "Dodd-Frank Act") to diligence, disclose and report whether or not its products contain minerals originating from the Democratic Republic of the Congo and adjoining countries, or conflict minerals. ChargePoint will incur additional costs to comply with these disclosure requirements, including costs related to determining the source of any of the relevant minerals and metals used in ChargePoint's products. These requirements could adversely affect the sourcing, availability and pricing of minerals used in the components used in ChargePoint's products. It is also possible that ChargePoint's reputation may be adversely affected if it determines that certain of its products contain minerals not determined to be conflict-free or if it is unable to alter its products, processes or sources of supply to avoid use of such materials. ChargePoint may also encounter end-customers who require that all of the components of the products be certified as conflict-free. If ChargePoint is not able to meet this requirement, such end-customers may choose to purchase products from a different company.

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***ChargePoint's business is subject to risks associated with construction, cost overruns and delays, and other contingencies that may arise in the course of completing installations, and such risks may increase in the future as ChargePoint expands the scope of such services with other parties.***

ChargePoint does not typically install charging stations at customer sites. These installations are typically performed by ChargePoint partners or electrical contractors with an existing relationship with the customer and/or knowledge of the site. The installation of charging stations at a particular site is generally subject to oversight and regulation in accordance with state and local laws and ordinances relating to building codes, safety, environmental protection and related matters, and typically requires various local and other governmental approvals and permits that may vary by jurisdiction. In addition, building codes, accessibility requirements or regulations may hinder EV charger installation because they end up costing the developer or installer more in order to meet the code requirements. Meaningful construction or permitting delays or cost overruns may impact ChargePoint's recognition of revenue in certain cases and/or impact customer relationships, either of which could adversely impact ChargePoint's business and profitability. In addition, the proper preparation, configuration and installation of charging stations requires specialized electrical certifications and skills. If ChargePoint is unable to identify sufficient partners and contractors to satisfy its customers' installation needs, specifically electricians and construction partners with sufficient skill and expertise installing charging stations, it may delay deployment projects or cause its customers to delay making an investment or commitment to purchase charging stations, which may adversely affect ChargePoint's business.

Furthermore, ChargePoint may elect to install charging stations at customer sites or manage contractors, likely as part of offering customers a turnkey solution. Working with contractors may require ChargePoint to obtain licenses or require it or its customers to comply with additional rules, working conditions and other union requirements, which can add costs and complexity to an installation project. In addition, if these contractors are unable to provide timely, thorough and quality installation-related services, customers could fall behind their construction schedules leading to liability of ChargePoint, or cause customers to become dissatisfied with the solutions ChargePoint offers and ChargePoint's overall reputation would be harmed.

***If ChargePoint is unable to attract and retain key employees and hire qualified management, technical, engineering and sales personnel, its ability to compete and successfully grow its business would be harmed.***

ChargePoint's success depends, in part, on its continuing ability to identify, hire, attract, train and develop and retain highly qualified personnel. The inability to do so effectively would adversely affect its business. ChargePoint's future performance depends on the continuing services and contributions of its senior management to execute on its business plan and to identify and pursue new opportunities and product innovations. The loss of services of senior management, or the ineffective management of any leadership transitions, especially within ChargePoint's sales organization, could significantly delay or prevent the achievement of its development and strategic objectives, which could adversely affect its business, financial condition and operating results.

In recent quarters, ChargePoint has announced a series of reorganization plans that were independently adopted (the "Reorganizations"), including the March 2026 Reorganization described in Note 5, *Restructuring* in Part I, Item 1, "Financial Statements" of this Quarterly Report on Form 10-Q. The March 2026 Reorganization was intended to improve operational efficiencies and operating costs and better align ChargePoint's workforce with current business needs, top strategic priorities, and key growth opportunities. ChargePoint may not realize, in full or in part, the anticipated benefits and savings from the Reorganizations due to unforeseen difficulties, delays or unexpected costs. If ChargePoint is unable to realize the expected operational efficiencies and cost savings from the Reorganizations, its operating results and financial condition would be adversely affected. In addition, ChargePoint may need to undertake additional workforce reductions or restructuring activities in the future.

Competition for employees can be intense, particularly in Silicon Valley where ChargePoint is headquartered, and the ability to attract, hire and retain employees depends on ChargePoint's ability to provide competitive compensation. In addition, future challenges related to ChargePoint's hybrid work model, Reorganization efforts or workplace practices could lead to attrition and difficulty attracting high-quality employees. ChargePoint may not be able to attract, assimilate, develop or retain qualified personnel in the future, and failure to do so could adversely affect its business, including the execution of its global business strategy.

***ChargePoint has expanded operations internationally, particularly in Europe, which will expose it to additional tax, compliance, market and other risks.***

ChargePoint's primary operations are in the United States, Europe and India and it maintains contractual relationships with parts and manufacturing suppliers in the Asia-Pacific region, Europe, Mexico and other locations. Managing

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ChargePoint's international operations requires additional resources and controls, and could subject ChargePoint to risks associated with international operations, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• conformity with applicable business customs, including translation into foreign languages and associated expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• lack of availability of government incentives and subsidies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• challenges in arranging, and availability of, financing for customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potential changes to its established business model;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• challenges posed by an environment of diverse cultures, laws, and customers, and the increased travel, infrastructure, and legal and compliance costs associated with international operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• installation challenges;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• differing driving habits and transportation modalities in other markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• different levels of demand among commercial, fleet and residential customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with multiple, potentially conflicting and changing governmental laws, regulations, certifications, and permitting processes including environmental, banking, employment, tax, information security, privacy, and data protection laws and regulations such as the EU General Data Protection Regulation ("EU GDPR"), national legislation implementing the same, the United Kingdom Data Protection Act 2018 ("UK GDPR"), and certain other changing requirements for legally transferring data out of the European Economic Area;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with U.S. and foreign anti-bribery laws including the Foreign Corrupt Practices Act ("FCPA") and the U.K. Anti-Bribery Act of 2020 (the "Anti-Bribery Act");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with environmental, social, governance and sustainability directives adopted and promulgated by the EU such as the Corporate Sustainability Reporting Directive and Corporate Sustainability Due Diligence Directive when, and if, they become applicable to ChargePoint or its European subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• conforming products to various international regulatory and safety requirements as well as charging and other electric infrastructures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulty in establishing, staffing and managing foreign operations, including the formation or organization of any works council;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulties in collecting payments in foreign currencies and associated foreign currency exposure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• restrictions on repatriation of earnings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with potentially conflicting and changing laws of taxing jurisdictions and compliance with applicable U.S. tax laws as they relate to international operations, the complexity and adverse consequences of such tax laws, and potentially adverse tax consequences due to changes in such tax laws; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• regional economic and political conditions, including the outbreak of war or other hostilities.

As a result of these risks, ChargePoint's current expansion efforts and any potential future international expansion efforts may not be successful.

***ChargePoint's future revenue growth will depend in significant part on its ability to increase sales of its products and services to fleet operators.***

ChargePoint's future revenue growth will depend in significant part on its ability to increase sales of its products and services to fleet operators. The electrification of fleets is an emerging market, and fleet operators may not adopt EVs on a widespread basis and on the timelines ChargePoint anticipates. In addition to the factors affecting the growth of the EV market generally, transitioning to an EV fleet can be costly and capital intensive, which could result in slower than anticipated adoption. The sales cycle could also be longer for sales to fleet operators, as they are often larger organizations, with more formal procurement processes than smaller commercial site hosts. Fleet operators may also require significant additional services and support, and if ChargePoint is unable to provide such services and support, it may adversely affect its ability to

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attract additional fleet operators as customers. Any failure to attract and retain fleet operators as customers in the future would adversely affect ChargePoint's business and results of operations.

***Acquisitions or strategic investments could be difficult to identify and integrate, divert the attention of key management personnel, disrupt ChargePoint's business, dilute stockholder value and adversely affect its results of operations and financial condition.***

As part of ChargePoint's business strategy, ChargePoint has made and may in the future make acquisitions of, or investments in, businesses, services or technologies that are complementary to its existing business. The process of identifying and consummating acquisitions and investments and the subsequent integration of new assets and businesses into ChargePoint's own business, requires attention from management and could result in a diversion of resources from its existing business, which in turn could have an adverse effect on its operations. Acquired assets or businesses may not generate the expected financial results. Acquisitions or investments could also result in the use of cash, potentially dilutive issuances of equity securities, the occurrence of goodwill impairment charges, amortization expenses for other intangible assets and exposure to potential unknown liabilities of the acquired business or investment. ChargePoint may also incur costs and management time on transactions that are ultimately not completed. In addition, ChargePoint's due diligence may fail to identify all of the problems, liabilities or other shortcomings or challenges of an acquired business, product, technology or investment, including issues related to intellectual property, product quality or product architecture, regulatory compliance practices, revenue recognition or other accounting practices or issues with employees or customers.

ChargePoint's acquisitions or investments may not ultimately strengthen its competitive position or achieve its goals and business strategy; ChargePoint may be subject to claims or liabilities assumed from an acquired company, product or technology; acquisitions or investments ChargePoint completes could be viewed negatively by its customers, investors and securities analysts; and ChargePoint may incur costs and expenses necessary to address an acquired company's failure to comply with laws and governmental rules and regulations. Additionally, ChargePoint may be subject to litigation or other claims in connection with the acquired company, including claims from terminated employees, former stockholders or other third parties, which may differ from or be more significant than the risks ChargePoint's business faces for similar litigation or other claims. An acquired company may also need to implement or improve its controls, procedures and policies, and ChargePoint may face risks associated if any of those controls, procedures or policies are insufficiently effective. ChargePoint may also face retention or cultural challenges associated with integrating employees from the acquired company into its organization. If ChargePoint is unsuccessful at integrating acquisitions or investments in a timely manner, the revenue and operating results of the combined company could be adversely affected. Any integration process may require significant time and resources, which may disrupt ChargePoint's ongoing business and divert management's attention, and ChargePoint may not be able to manage the integration process successfully or in a timely manner. ChargePoint may not successfully evaluate or utilize the acquired technology or personnel, realize anticipated synergies from the acquisition or investment, or accurately forecast the financial impact of an acquisition or investment transaction or the related integration of such acquisition or investment, including accounting charges and any potential impairment of goodwill and intangible assets recognized in connection with such transaction. ChargePoint may have to pay cash, incur debt, or issue equity or equity-linked securities to pay for any acquisitions or investments, each of which could adversely affect its financial condition or the market price of its Common Stock. Furthermore, the sale of equity or issuance of equity-linked debt to finance any such transaction could result in dilution to ChargePoint's stockholders. The occurrence of any of these risks could harm ChargePoint's business, operating results and financial condition.

***ChargePoint's business is subject to risks associated with natural disasters, global epidemics, health pandemics and the adverse effects associated with climate change, including earthquakes, wildfires, or other types of natural disasters or resource shortages, including public safety power shut-offs that have occurred and may continue to occur in California, the effects of which could disrupt and harm its operations and those of ChargePoint's customers.***

ChargePoint faces risks related to global epidemics and health pandemics, like what was experienced worldwide during the COVID-19 pandemic, which may create significant volatility in the global economy and may have a long-lasting adverse impact on ChargePoint and its industry. For instance, such epidemics have in the past caused and may in the future cause local, regional or national governments to implement measures to contain pandemic risks, such as travel restrictions, quarantines, shelter in place orders or business shutdowns. Any of these measures, as was experienced during the COVID-19 pandemic, may adversely affect ChargePoint's employees and operations and the operations of its customers, suppliers, vendors and business partners, and may negatively impact demand for EV charging stations, particularly at workplaces, or the supply of components necessary for the manufacture of charging stations.

ChargePoint's headquarters are located in the San Francisco Bay Area in an area projected to be vulnerable to future water scarcity and sea level rise due to climate change as well as in an active earthquake zone. The occurrence of a natural

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disaster such as an earthquake, drought, flood, fire (such as the increasingly frequent wildfires in California), localized extended outages of critical utilities (such as California's public safety power shut-offs) or transportation systems, or any critical resource shortages could cause a significant interruption in its business, damage or destroy ChargePoint's facilities or inventories, and cause it to incur significant costs, any of which could harm its business, financial condition and results of operations. The insurance ChargePoint maintains against fires, earthquakes and other natural disasters may not be adequate to cover losses in any particular case.

ChargePoint's customers may be adversely impacted by the occurrences of natural disasters such as earthquakes, hurricanes, floods, or wildfires which destroy commercial complexes, residences and businesses that are the sites where EV charging infrastructure is typically built and installed. If businesses structures and densely populated residential areas are damaged significantly by natural disasters such areas may be less inclined to invest in new EV Networked Charging Systems rather than repair or rebuild local infrastructure. In addition, rolling public safety power shut-offs in California or other states can affect user acceptance of EVs, as charging may be unavailable at the desired times, or at all during these events. These shut-offs could also affect the ability of fleet operators to charge their EVs, which, for example, could adversely affect transportation schedules or any service level agreements to which either ChargePoint or the fleet operator may be a party. If these events persist, the demand for EVs or EV infrastructure could decline, which would result in reduced demand for charging solutions.

***Seasonality may cause fluctuations in ChargePoint's revenue.***

ChargePoint believes there are seasonal factors that may cause ChargePoint to record higher revenue in some quarters compared with others. A significant share of ChargePoint's annual revenues are typically generated in the fourth fiscal quarter, which coincides with customers with a December 31 year-end choosing to spend remaining unused portions of their budgets. ChargePoint's revenues have historically been lower in its first fiscal quarter than its preceding fourth quarter, which ChargePoint believes is due to, in part, unfavorable weather conditions which result in a decrease in construction activity during the winter months, periods of wet weather and times when other weather and climate conditions would impair construction activity. While ChargePoint believes it has visibility into the seasonality of its business, various factors, including difficult weather conditions (such as flooding, hurricanes, prolonged rain or periods of unseasonably cold temperatures or snowstorms) in any quarter, may materially and adversely affect its business, financial condition and results of operations.

***ChargePoint is susceptible to risks associated with an increased focus by stakeholders and regulators on climate change, which may adversely affect its business and results of operations.***

Climate-related events, including the increasing frequency of extreme weather events and their impact on critical infrastructure in the United States and elsewhere, have the potential to disrupt ChargePoint's business and those of its third-party suppliers, and customers, and may cause ChargePoint to experience higher attrition, losses and additional costs to maintain or resume operations. In addition, ChargePoint's customers may begin to establish sourcing requirements related to sustainability. As a result, ChargePoint may receive requests for sustainability related information about its products, business operations, use of sustainable materials and packaging. ChargePoint's inability to comply with these and other sustainability requirements in the future could adversely affect sales of and demand for its products.

Further, in the past there has been an increased focus, including by governmental and nongovernmental organizations, investors, customers, and other stakeholders, on climate change matters, including increased pressure to expand disclosures related to the physical and transition risks related to climate change or to establish sustainability goals, such as the reduction of greenhouse gas emissions, which could expose ChargePoint to market, operational and execution costs or risks. ChargePoint's failure to establish such sustainability targets or targets that are perceived to be appropriate, as well as to achieve progress on those targets on a timely basis, or at all, could adversely affect the reputation of its brand and sales of and demand for its products.

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**Risks Related to the EV Market**

***ChargePoint's future growth and success is highly dependent upon the continuing adoption of EVs for passenger and fleet applications.***

ChargePoint's future growth is highly dependent upon the adoption of EVs by businesses and consumers. The market for EVs is still rapidly evolving, characterized by rapidly changing technologies, competitive pricing and factors, evolving government regulation and industry standards, changing consumer demands and behaviors, changing levels of concern related to environmental issues and governmental initiatives related to energy independence, climate change and the environment generally. Although demand for EVs has grown in recent years, the rate of EV sales is highly volatile and there is no guarantee of continuing future demand. If the market for EVs develops more slowly than expected, or if demand for EVs decreases, ChargePoint's business, prospects, financial condition and operating results would be harmed. The market for EVs could be affected by numerous factors, such as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• perceptions about EV features, quality, safety, performance and cost;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• EV auto manufacturers delay or eliminate plans to migrate their manufacturing production to be solely or primarily EVs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• perceptions about the limited range over which EVs may be driven on a single battery charge;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• competition, including from other types of alternative fuel vehicles, plug-in hybrid electric vehicles and high fuel-economy internal combustion engine vehicles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• volatility in the cost of oil and gasoline, including as a result of trade restrictions and ongoing conflicts in the Middle East involving the United States, Iran, Israel and other Gulf States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• concerns regarding the scalability, availability, reliability and stability of the electrical grid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the change in an EV battery's ability to hold a charge over time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the availability and reliability of a national electric vehicle charging network or infrastructure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• availability of maintenance and repair services for EVs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• consumers' perception about the convenience and cost of charging EVs, including variability and increases to the cost of electricity used to charge EVs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increases in fuel efficiency of non-electric vehicles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• government regulations and economic incentives, including adverse changes in, or expiration of, favorable tax incentives related to EVs, EV charging stations or decarbonization generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reduction or elimination of governmental targets, mandates or goals with respect to reducing carbon emissions or increasing mobile electrification;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• relaxation or elimination of government mandates or quotas regarding the sale of EVs or Zero-Emission Vehicle ("ZEV") mandates; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• concerns about the future viability of EV manufacturers.

In addition, sales of vehicles in the automotive industry can be cyclical, which may affect growth in acceptance of EVs. It is uncertain how macroeconomic factors will impact demand for EVs, particularly since EVs can be more expensive than traditional gasoline-powered vehicles. Furthermore, because fleet operators often make large purchases of EVs, this cyclicality and volatility in the automotive industry may be more pronounced with commercial purchasers, and any significant decline in demand from these customers could reduce demand for EV charging and ChargePoint's products and services in particular.

Demand for EVs may also be affected by factors directly impacting automobile prices or the cost of purchasing and operating automobiles, such as sales and financing incentives, prices of raw materials and parts and components, the cost of electricity for charging as compared to fossil fuels and governmental regulations, including tariffs, import regulation and other taxes. Volatility in demand or delays in EV production due to global supply chain constraints or due to changes in vehicle

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manufacturers' EV product goals may lead to lower vehicle unit sales, which may result in reduced demand for EV charging solutions and therefore adversely affect ChargePoint's business, financial condition and operating results.

***The EV market currently benefits from the availability of rebates, tax credits and other financial incentives from governments, utilities and others to offset the purchase or operating costs of EVs and EV charging stations. The reduction, modification, or elimination of such benefits could cause reduced demand for EVs and EV charging stations, which would adversely affect ChargePoint's financial results.***

The U.S. federal government, foreign governments and some state and local governments provide incentives to end users and purchasers of EVs or EV charging stations in the form of rebates, tax credits and regulations like clean fuel programs, which can provide other financial incentives. The U.S. federal government, and some foreign and state governments, have proposed changing or ending these incentives. These proposals create uncertainty and if adopted and implemented may have a material adverse impact on the EV market, which benefits from these financial incentives to significantly lower the effective price of EVs and EV charging stations to customers.

For example, the Infrastructure Investment and Jobs Act signed into law on November 15, 2021, provided additional funding for EVs and EV charging infrastructure through the creation of new programs and grants and the expansion of existing programs, including the $7.5 billion National Electric Vehicle Infrastructure ("NEVI") Program for EV charging along highway corridors. On August 11, 2025, the Federal Highway Administration ("FHWA") issued new guidance, updating prior guidance which previously froze federal funds tied to NEVI and directed states to file updated implementation plans within 30 days. FHWA has since approved the state plans and states are moving forward with their NEVI programs, but there is no guarantee or assurance that FHWA guidance and implementation will not change again in the future and FHWA's implementation of the NEVI program may be subject to future interruptions, delays or cancellation.

Separately, the One Big Beautiful Bill Act ("OBBBA"), which was signed into law in July 2025, set new end dates for the EV charging infrastructure tax credits previously made available under Section 30C and Section 30D of the Internal Revenue Code of 1986, as amended (the "Code"). In particular, the OBBBA terminated the $7,500 new clean vehicle tax credit for all new EVs sold after September 30, 2025. This reduction and any other reduction in rebates, tax credits or other financial incentives for EVs or EV charging stations could materially reduce the demand for EVs and ChargePoint's solutions and, as a result, may adversely impact ChargePoint's business and expansion potential.

ChargePoint also derives other revenue as set forth on its condensed consolidated statements of operations from regulatory credits. If government support of these credits declines, ChargePoint's ability to generate this other revenue in the future would be adversely affected. In years prior to fiscal year 2021, ChargePoint derived a slight majority of its other revenue from regulatory credits. However, revenue from this source as a percentage of other and total revenue has declined in recent quarters and it may continue to decline over time. Further, the availability of such credits may decline regardless of the levels of general governmental support of the transition to EV infrastructure.

***Changes to fuel economy standards or the success of alternative fuels may negatively impact the EV market and thus the demand for ChargePoint's products and services.***

Changes in federal or state fuel-economy standards and emissions regulations present material risks to the EV market and, consequently, to the demand for our products and services. For instance, the OBBA eliminated the civil penalty for violation of the Corporate Average Fuel Economy (CAFE) standards which reduces incentives for automakers to improve fleet fuel efficiency. Separately, the U.S. federal government has taken efforts to rescind California's Clean Air Act waiver which may weaken state frameworks driving adoption of ZEV standards across multiple states. Reductions in fuel-efficiency requirements, improvements in the fuel economy of internal-combustion vehicles, or increased adoption of alternative fuels such as ethanol, biodiesel, fuel cells or compressed natural gas could diminish EV demand. In addition, the EV fueling model is different than gas or other fuel models, requiring behavior change and education of influencers, consumers and others such as regulatory bodies. Developments in alternative technologies, such as advanced diesel, ethanol, fuel cells or compressed natural gas, or improvements in the fuel economy of the internal combustion engine, may materially and adversely affect demand for EVs and EV charging stations. For example, fuel which is abundant and relatively inexpensive in the United States, such as compressed natural gas, may emerge as a preferred alternative to petroleum-based propulsion. Regulatory bodies may also adopt rules that substantially favor certain alternatives to petroleum-based propulsion over others, which may not necessarily be EVs. Any of these changes may impose additional obstacles to the purchase of EVs or the development of a more ubiquitous EV market. If any of the above influence consumers or businesses to no longer purchase EVs or purchase them at a lower rate, it would materially and adversely affect ChargePoint's business, operating results, financial condition and prospects.

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***The EV charging market is characterized by rapid technological changes often due to technical improvements, regulatory requirements and customer requirements, which requires ChargePoint to continue to develop new products and product innovations. Any delays in such development could adversely affect market adoption of its products and ChargePoint's financial results.***

Continuing technological changes in battery and other EV technologies could adversely affect adoption of current EV charging technology and/or ChargePoint's products. ChargePoint's future success will depend upon its ability to develop and introduce a variety of new capabilities and innovations to its existing product offerings, as well as introduce a variety of new product offerings, to address the changing needs of the EV charging market. As new products are introduced, gross margins tend to decline in the near term and improve as the product becomes more mature with a more efficient manufacturing process.

As EV technologies change, new industry standards evolve or develop or governmental regulations impose new requirements on EV charging technology, ChargePoint may need to upgrade or adapt its charging station technology and introduce new products and services in order to serve vehicles that have the latest technology, such as battery cell technology or charging connector ports, or comply with new governmental regulations, which could involve substantial costs. Even if ChargePoint is able to keep pace with changes in technology and develop new products and services, its research and development expenses could increase, its gross margins could be adversely affected in some periods and its prior products could become obsolete or non-compliant with governmental regulations or industry standards more quickly than expected. ChargePoint may also incur additional costs and expenses related to new product transitions such as adverse impacts due to supply chain failures to procure sufficient new product components, purchase price variances, or inventory obsolescence costs related to new product transitions, including as the result of any failure on the part of ChargePoint to meet its own estimates and projections. ChargePoint cannot guarantee that any new products will be released in a timely manner, or at all, or achieve market acceptance. Delays in delivering new products that meet customer requirements could damage ChargePoint's relationships with customers and lead them to seek alternative providers. Delays in introducing products and innovations or the failure to offer innovative products or services at competitive prices may cause existing and potential customers to purchase ChargePoint's competitors' products or services. Finally, new or changing state or federal regulations or industry standards may result in delays related to the development of new products or modifications to existing products in order to come into compliance and any such delays may result in customer's selecting alternative providers or result in delays related to ChargePoint's ability to install, sell or distribute its charging station technology.

If ChargePoint is unable to devote adequate resources to develop products or cannot otherwise successfully develop products or services that meet customer and regulatory requirements on a timely basis or that remain competitive with technological alternatives, its products and services could lose market share, its revenue may decline, it may experience higher operating losses and its business and prospects may be adversely affected.

***Certain statements ChargePoint makes about estimates of market opportunity and forecasts of market growth may prove to be inaccurate.***

From time to time, ChargePoint makes statements with estimates of the addressable market for ChargePoint's solutions and the EV market in general. Market opportunity estimates and growth forecasts, whether obtained from third-party sources or developed internally, are subject to significant uncertainty and are based on assumptions and estimates that may prove to be inaccurate. The estimates and forecasts relating to the size and expected growth of the target EV market, market demand and adoption rates, capacity to address this demand and pricing may also prove to be inaccurate. In particular, estimates regarding the current and projected EV market opportunity are difficult to predict. The estimated addressable EV market may not materialize for many years, if ever, and even if the markets meet the size estimates and growth forecasts, ChargePoint's business could fail to grow at similar rates.

**Risks Related to ChargePoint's Technology, Intellectual Property and Infrastructure**

***ChargePoint's business may be adversely affected if it is unable to protect its technology and intellectual property from unauthorized use by third parties.***

ChargePoint's success depends, at least in part, on ChargePoint's ability to obtain, maintain, enforce and protect its core technology and intellectual property. To accomplish this, ChargePoint relies on, and plans to continue relying on, a combination of patents, trade secrets (including know-how), employee and third-party nondisclosure agreements, copyright, trademarks, intellectual property licenses and other contractual rights to retain ownership of, and protect, its technology. Despite ChargePoint's efforts to obtain, maintain, enforce and protect intellectual property rights, there can be no assurance that these steps will be available in all cases or will be adequate to prevent ChargePoint's competitors or other third-parties from copying, reverse engineering, or otherwise obtaining and using its technology or products or seeking court declarations that they do not infringe, misappropriate or otherwise violate its intellectual property. Failure to adequately protect its technology and

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intellectual property could result in competitors offering similar products, potentially resulting in the loss of some of ChargePoint's competitive advantage and a decrease in revenue which would adversely affect its business, prospects, financial condition and operating results.

The measures ChargePoint takes to protect its technology and intellectual property from unauthorized use by others may not be effective for various reasons, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any patent applications ChargePoint submits may not result in the issuance of patents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the scope of issued patents may not be broad enough to protect its inventions and proprietary rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any issued patents may be challenged by competitors and/or invalidated by courts or governmental authorities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint may not be the first inventor of the subject matter to which it has filed a particular patent application, and it may not be the first party to file such a patent application;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• patents have a finite term, and competitors and other third-parties may offer identical or similar products after the expiration of ChargePoint's patents that cover such products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the costs associated with enforcing patents, confidentiality and invention agreements or other intellectual property rights may make aggressive enforcement impracticable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• current and future competitors may circumvent patents or independently develop similar trade secrets or works of authorship, such as software;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• know-how and other proprietary information ChargePoint purports to hold as a trade secret may not qualify as a trade secret under applicable laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ChargePoint's employees, contractors or business partners may breach their confidentiality, non-disclosure, and non-use obligations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• proprietary designs and technology embodied in ChargePoint's products may be discoverable by third-parties through means that do not constitute violations of applicable laws.

Patent, trademark, and trade secret laws vary significantly throughout the world. Some foreign countries do not protect intellectual property rights to the same extent as do the laws of the United States. Further, policing the unauthorized use of ChargePoint's intellectual property in foreign jurisdictions may be difficult or impossible. Therefore, ChargePoint's intellectual property rights may not be as strong or as easily enforced outside of the United States.

Certain patents in the EV space may come to be considered "standards essential." If this is the case with respect to any of ChargePoint's patents or patents held by third-parties, ChargePoint may be required to license certain technology on "fair, reasonable and non-discriminatory" terms, decreasing revenue, or obtaining such a license, increasing expenses and decreasing gross margins. Further, competitors, vendors, or customers may, in certain instances, be free to create variations or derivative works of ChargePoint technology and intellectual property, and those derivative works may become directly competitive with ChargePoint's offerings. Finally, ChargePoint may not be able to leverage, or obtain ownership of, all technology and intellectual property developed by ChargePoint's vendors in connection with design and manufacture of ChargePoint's products, thereby jeopardizing ChargePoint's ability to obtain a competitive advantage over its competitors.

It is ChargePoint's policy to enter into confidentiality and invention assignment agreements with its employees and contractors that have developed material intellectual property for ChargePoint, but these agreements may not be self-executing and may not otherwise adequately protect ChargePoint's intellectual property, particularly with respect to conflicts of ownership relating to work product generated by employees and contractors. Furthermore, ChargePoint cannot be certain that these agreements will not be breached, and that third-parties will not gain access to its trade secrets, know-how and other proprietary technology. Third-parties may also independently develop the same or substantially similar proprietary technology. Monitoring unauthorized use of ChargePoint's intellectual property is difficult and costly, as are the steps ChargePoint has taken or will take to prevent misappropriation.

To prevent unauthorized use of ChargePoint's intellectual property, it may be necessary to prosecute actions for infringement, misappropriation or other violation of ChargePoint's intellectual property against third-parties. Any such action could result in significant costs and diversion of ChargePoint's resources and management's attention, and there can be no assurance that ChargePoint will be successful in any such action. Furthermore, ChargePoint's current and potential competitors

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may have the ability to dedicate substantially greater resources to enforce their intellectual property rights than ChargePoint does. Accordingly, ChargePoint may not be able to prevent third-parties from infringing, misappropriating or otherwise violating its intellectual property. Any of the foregoing may adversely affect ChargePoint's revenues or results of operations.

***ChargePoint may need to defend against intellectual property infringement or misappropriation claims, which may be time-consuming and expensive.***

From time to time, the holders of intellectual property rights may assert their rights and urge ChargePoint to enter into licenses, and/or may bring suits alleging infringement, misappropriation or other violation of such rights. There can be no assurance that ChargePoint will be able to mitigate the risk of potential suits or other legal demands by competitors or other third-parties. Accordingly, ChargePoint may consider entering into licensing agreements with respect to such rights, although no assurance can be given that such licenses can be obtained on acceptable terms or that litigation will not occur, and such licenses and associated litigation could significantly increase ChargePoint's operating expenses. In addition, if ChargePoint is determined to have or believes there is a high likelihood that it has infringed upon, misappropriated or otherwise violated a third-party's intellectual property rights, it may be required to cease making, selling or incorporating certain key components or intellectual property into the products and services it offers, to pay substantial damages and/or royalties, to redesign its products and services, and/or to establish and maintain alternative branding. In addition, to the extent that ChargePoint's customers and business partners become the subject of any allegation or claim regarding the infringement, misappropriation or other violation of intellectual property rights related to ChargePoint's products and services, ChargePoint may be required to indemnify such customers and business partners. If ChargePoint were required to take one or more such actions, its business, prospects, operating results and financial condition could be materially and adversely affected. In addition, any litigation or claims, whether or not valid, could result in substantial costs, negative publicity and diversion of resources and management attention.

***ChargePoint expects to incur research and development costs and devote significant resources to developing new products, which could significantly reduce its profitability and may never result in revenue to ChargePoint.***

ChargePoint's future growth depends on penetrating new markets, adapting existing products to new applications and customer requirements, and introducing new products that achieve market acceptance. ChargePoint plans to incur significant research and development costs in the future as part of its efforts to design, develop, manufacture and introduce new products and enhance existing products. ChargePoint's research and development expenses were $35.6 million during the three months ended April 30, 2026, and $139.3 million, $141.3 million million, and $220.8 million during the fiscal years ended January 31, 2026, 2025 and 2024, respectively, and may grow in the future. Further, ChargePoint's research and development program may not produce successful results, and its new products may not achieve market acceptance, create additional revenue or become profitable.

ChargePoint intends to use third-party contract manufacturers and design partners for targeted new research and development initiatives with the goals of controlling development costs and decreasing operating expenses. ChargePoint believes such partnerships will allow it to better manage research and development expenses, improve the speed and quality of new product development and increase its efficiencies by leveraging the design talent and supply chains of these partners. Implementing third-party design partners for new research and development initiatives will require sophisticated oversight, quality programs and cost-control initiatives. If ChargePoint is not successful in its use of third-party contract manufacturers and design partners for new product development, its financial conditions, gross margins and results of operations could be materially and adversely affected.

***The current lack of national and international standards for electric vehicle charging infrastructure may lead to uncertainty, additional competition and further unexpected costs.***

Lack of industry standards for EV station management, coupled with utilities and other large organizations mandating their own adoption of specifications that have not become widely adopted in the industry, may hinder innovation or slow new product or new feature introduction.

In addition, automobile manufacturers may choose to utilize their own proprietary systems, which could lock out competition for EV charging stations, or to use their size and market position to influence the market, which could limit ChargePoint's market and reach to customers, negatively impacting its business. For example, many of the major EV manufacturers have announced the adoption of the North American Charging Standard ("NACS") for charging ports in their future EV models. It is possible that other charging or similar standards may be introduced into the emerging EV market by EV manufacturers, EV charging infrastructure suppliers and other market participants which may not be compatible with ChargePoint's products or technologies and cause ChargePoint to have to adapt its business, processes or services to comply with such standard, which may require significant time and research and development costs and, as a result, may have a material and adverse effect on ChargePoint's revenue or results of operations,

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Further, should regulatory bodies impose charging standards that are not compatible with ChargePoint's products or infrastructure, ChargePoint may incur significant costs to adapt its business model to the new regulatory standards, which may require significant time and, as a result, may have a material and adverse effect on ChargePoint's revenue or results of operations.

***ChargePoint is highly reliant on its networked charging solution and information technology systems and data, and those of its service providers and component suppliers; any of these systems and data may be subject to cyber-attacks, service disruptions or other security incidents, which could result in data breaches, loss or interruption of services, intellectual property theft, claims, litigation, regulatory investigations, significant liability, reputational damage and other adverse consequences.***

ChargePoint's business depends on the secure and continuous operation of a distributed, connected ecosystem that includes (i) Networked Charging Systems deployed at third-party locations and operated by site hosts; (ii) embedded firmware and operating systems within charging equipment, including over-the-air (OTA) update and device authentication processes; (iii) its cloud-based software solutions or "ChargePoint Platform" and associated cloud services, application programming interfaces, and integrations with utilities, roaming partners and fleet systems; and (iv) payment and billing infrastructure used by drivers and enterprise customers. As a result, ChargePoint faces cybersecurity and data protection risks that span both operational technology (OT) at the edge (the charger and related hardware/firmware) and information technology (IT) in its cloud and enterprise systems, including risks arising from the increasing use of artificial intelligence, machine learning and other automated technologies within such systems and workflows, which may expand attack surfaces, introduce novel vulnerabilities or failure modes, and increase the complexity of detecting, investigating and remediating security incidents.

ChargePoint continues to expand its information technology systems in support of its networked charging solutions, and as its operations grow, its internal information technology systems—such as product data management, procurement, inventory management, production planning and execution, sales, services and logistics, financial, tax and regulatory compliance systems—are evolving. This includes the implementation of new internally developed systems and the deployment of such systems in the United States and abroad, including systems that incorporate or rely on artificial intelligence, automated decision-making, data analytics or third-party AI-enabled tools and services. The implementation, maintenance, segregation and improvement of these systems require significant management time, support and cost, and there are inherent risks associated with developing, improving and expanding ChargePoint's core systems as well as implementing new systems and updating current systems, including disruptions to related areas of business operations. AI-enabled systems may amplify these risks by increasing system interdependencies, accelerating the scale and speed at which errors or misuse can occur, and creating additional data governance, cybersecurity and compliance challenges. These risks may affect ChargePoint's ability to manage its data and inventory; procure parts or supplies; manufacture, sell, deliver and service products; adequately protect its intellectual property; or achieve and maintain compliance with, or realize available benefits under, tax laws and other applicable regulations.

Because many Networked Charging Systems are installed in public or semipublic environments and physically accessible, inadequate site level protections by site hosts or third parties can enable tampering or theft that, in turn, may facilitate unauthorized access to ChargePoint's systems, manipulation of billing or pricing at the point of interaction, or operational disruptions that reduce uptime and driver confidence. Further, most of the Networked Charging Systems ChargePoint sells are owned and operated by third parties who are responsible for the physical safety and day-to-day oversight of those charging stations.

To the extent any security incident results in unauthorized access to, or damage to, acquisition, use, corruption, loss, destruction, alteration or dissemination of, ChargePoint data (including intellectual property and personal information) or ChargePoint products—or for it to be believed or reported that any of these occurred—it could disrupt ChargePoint's business, harm ChargePoint's reputation, compel ChargePoint to comply with applicable data breach notification and consumer protection laws, including those increasingly applicable to the use of artificial intelligence and automated processing of personal or sensitive data, subject ChargePoint to time consuming, distracting and expensive litigation, regulatory investigation and oversight, mandatory corrective action and third-party audits, require ChargePoint to verify the correctness of database contents, or otherwise subject ChargePoint to liability under laws, regulations and contractual obligations (including those that protect the privacy and security of personal information). Any of the foregoing could result in significant legal and financial exposure, increased costs (including for fines, defense, remediation, customer support and complimentary services) and/or reputational harm.

Because ChargePoint also relies on third-party service providers and component suppliers, ChargePoint cannot guarantee that those parties' systems have not been breached or that they do not contain exploitable defects, bugs, or vulnerabilities that could result in a security incident or other disruption to ChargePoint's systems or operations. This risk may be heightened where ChargePoint relies on third-party providers of artificial intelligence models, data, software components, cloud

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infrastructure or development tools, including where ChargePoint has limited visibility into such providers' security practices, data handling, model training or update processes. ChargePoint's ability to monitor its service providers' and component suppliers' security measures is limited and, in any event, malicious actors may circumvent such measures. In addition, as EV charging standards, interoperability requirements and industry practices evolve, stakeholders (including regulators, utilities, customers and program administrators) may increase security expectations, including AI-specific governance, testing, transparency or certification requirements, which may require us to implement and maintain additional controls, testing and certifications, further increasing costs and diverting management attention.

If ChargePoint does not successfully implement, maintain or expand its information technology systems as planned, or if ChargePoint experiences a significant cybersecurity or data protection incident, its operations may be disrupted; its intellectual property and personal information, could be compromised or misappropriated; its reputation may be adversely affected; its ability to accurately and/or timely report its financial results could be impaired; and deficiencies may arise in its internal control over financial reporting, which may impact its ability to certify its financial results and as a result its business, operations and financial results may be adversely affected.

***Computer malware, viruses, ransomware, hacking, phishing attacks and similar disruptions could result in security and privacy breaches and interruption in service, which could harm ChargePoint's business***

From time to time, ChargePoint has experienced cyberattacks on its information technology infrastructure and systems. Computer malware, viruses, physical or electronic break-ins and similar disruptions could lead to interruption and delays in ChargePoint's services and operations and loss, misuse or theft of data. The increasing use of artificial intelligence by both ChargePoint and threat actors may further heighten these risks, as attackers may leverage AI-enabled tools to automate, scale or enhance the sophistication of attacks, including social engineering, phishing, credential harvesting, malware development or exploitation of software vulnerabilities. Threat actors—including financially motivated criminal groups and nation-state or state aligned actors—may target critical infrastructure providers and EV charging networks, attempt to extort companies through ransomware, or seek to compromise software supply chains and firmware signing keys. External events, such as the conflict between Russia and Ukraine, conflicts in the Middle East involving the United States, Iran, Israel and other Gulf States, and heightened geopolitical tensions, have been accompanied by warnings from cybersecurity organizations about increased threat activity against U.S. businesses and infrastructure providers, which could increase the likelihood or severity of attacks aimed at energy, fueling or infrastructure service providers. ChargePoint has also been targeted by spear phishing campaigns directed at specific individuals or departments that masquerade as trusted sources to obtain sensitive information or initiate unauthorized transactions, and such campaigns may increasingly incorporate AI-generated content designed to evade detection or increase their effectiveness.

Any attempts by cyber attackers to disrupt ChargePoint's services or systems—if successful—could (among other impacts) reduce charger uptime and network reliability, manipulate pricing or billing at the point of interaction, misappropriate funds, exfiltrate confidential information or intellectual property, and degrade driver and customer trust. Security incidents involving AI-enabled systems may be more difficult to detect, attribute or remediate, and may increase the risk of cascading operational, legal or reputational impacts. Such events could be expensive to remedy; subject ChargePoint to substantial fines, penalties, damages and other liabilities under applicable laws and regulations; lead to a loss of protection of ChargePoint's intellectual property or trade secrets; and damage ChargePoint's reputation or brand. While ChargePoint maintains cyber-insurance, that coverage may not be sufficient to compensate for all liability relating to any actual or potential disruption or other security breach or incident, coverage might not be available on commercially reasonable terms (or at all), and insurers may deny coverage for certain claims. The successful assertion of one or more large claims that exceed available insurance coverage—or material changes to ChargePoint's insurance (including premium increases, lower limits, exclusions, or large deductibles or coinsurance)—could have a material adverse effect on its business, financial condition, operating results and reputation.

Efforts to prevent cyber attackers from entering computer systems are costly to implement and operate, and ChargePoint may be unable to cause the implementation or enforcement of equivalent measures at its third-party vendors, site hosts or component suppliers. As ChargePoint integrates additional AI-enabled tools, services or automated processes, it may be required to implement new controls, monitoring, training and governance frameworks, which may not be fully effective in preventing misuse, error or attack. Although it is difficult to determine what, if any, harm may directly result from any specific interruption or attack, any failure to maintain performance, reliability, security and availability of systems and technical infrastructure may, in addition to other losses, harm ChargePoint's reputation, brand and ability to attract and retain customers.

ChargePoint has previously experienced, and may in the future experience, service disruptions, outages and other performance problems due to a variety of factors, including infrastructure changes, third-party service provider or component supplier disruptions, human or software errors, capacity constraints and cybersecurity events. The introduction or expansion of

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AI-enabled systems may increase the risk or severity of such disruptions, particularly if such systems malfunction, are misused, or depend on third-party data or infrastructure. If ChargePoint's services are unavailable when users attempt to access them, they may seek alternatives, which could reduce demand for ChargePoint's solutions. Although ChargePoint maintains business continuity and disaster recovery processes designed to enable it to recover from a disaster or catastrophe and continue business operations—and has tested these capabilities under controlled circumstances—human error, data corruption, third-party failures or the nature and timing of a particular event could materially impact the efficacy of such processes, extend the time services are partially or fully unavailable, and cause additional reputational damage or loss of revenue, any of which could adversely affect ChargePoint's business and financial results.

***ChargePoint's technology could have undetected defects, errors or bugs in hardware or software which could reduce market adoption, damage its reputation with current or prospective customers, and/or expose it to product liability and other claims that could materially and adversely affect its business.***

ChargePoint may be subject to claims that charging stations have malfunctioned and persons or property were injured and harmed or purported to be injured and harmed. Any insurance that ChargePoint carries may not be sufficient or it may not apply to all situations. Similarly, to the extent that such malfunctions are related to components obtained from third-party vendors, such vendors may not assume responsibility for such malfunctions. In addition, ChargePoint's customers could be subjected to claims as a result of such incidents and may bring legal claims against ChargePoint to attempt to hold it liable. Any of these events could adversely affect ChargePoint's brand, relationships with customers, operating results or financial condition.

Furthermore, the ChargePoint Platform is complex, developed for over a decade by many developers, and includes a number of licensed third-party commercial and open-source software libraries. ChargePoint's software has contained defects and errors and may in the future contain undetected defects or errors. ChargePoint is continuing to evolve the features and functionality of the ChargePoint Platform through updates and enhancements, and as it does, it may introduce additional defects or errors that may not be detected until after deployment to customers. In addition, if ChargePoint's products and services, including any updates or patches, are not implemented or used correctly or as intended, inadequate performance and disruptions in service may result.

Any defects or errors in product or services offerings, or the perception of such defects or errors, or other performance problems could result in any of the following, each of which could adversely affect ChargePoint's business and results of its operations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• expenditure of significant financial and product development resources, including recalls, in efforts to analyze, correct, eliminate or work around errors or defects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• payment of any fines, penalties or damages to third parties as the result of any claims related to defects or errors in ChargePoint's products or services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• loss of existing or potential customers or partners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• interruptions or delays in sales;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• delayed or lost revenue;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• delay or failure to attain market acceptance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• delay in the development or release of new functionality or improvements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• negative publicity and reputational harm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• sales credits or refunds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure of confidential or proprietary information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• diversion of development and customer service resources;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• breach of warranty claims;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• legal claims under applicable laws, rules and regulations; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in collection cycles for accounts receivable or the expense and risk of litigation.

Although ChargePoint has contractual protections, such as warranty disclaimers and limitation of liability provisions, in many of its agreements with customers, resellers and other business partners, such protections may not be uniformly implemented in all contracts and, where implemented, may not fully or effectively protect it from claims by customers, resellers, business partners or other third-parties. Any insurance coverage or indemnification obligations of suppliers may not adequately cover all such claims or cover only a portion of such claims. A successful product liability, warranty, or other similar claim could have an adverse effect on ChargePoint's business, operating results and financial condition. In addition, even claims that ultimately are unsuccessful could result in expenditure of funds in litigation, divert management's time and other resources and cause reputational harm.

***Some of ChargePoint's products contain open-source software, which may pose particular risks to its proprietary software, products and services in a manner that could harm its business.***

ChargePoint uses open-source software in its products and anticipates using open-source software in the future. Some open-source software licenses require those who distribute open-source software as part of their own software product to publicly disclose all or part of the source code to such software product or to make available any derivative works of the open-source code on unfavorable terms or at no cost, and ChargePoint may be subject to such terms. The terms of many open-source licenses have not been interpreted by U.S. or foreign courts, and there is a risk that open source software licenses could be construed in a manner that imposes unanticipated conditions or restrictions on ChargePoint's ability to provide or distribute ChargePoint's products or services.

In addition, ChargePoint relies on some open-source software and libraries issued under the General Public License (or similar "copyleft" licenses) for development of its products and may continue to rely on similar copyleft licenses. Third-parties may assert a copyright claim against ChargePoint regarding its use of such software or libraries, which could lead to a limitation of ChargePoint's use of such software or libraries. Use of such software or libraries may also force ChargePoint to provide third-parties, at no cost, the source code to its proprietary software, which may decrease revenue and lessen any competitive advantage ChargePoint has due to the secrecy of its source code.

ChargePoint could face claims from third-parties claiming ownership of, or demanding release of, the open-source software or derivative works that ChargePoint developed using such software, which could include ChargePoint's proprietary source code, or otherwise seeking to enforce the terms of the applicable open-source license. These claims could result in litigation and could require ChargePoint to make its software source code freely available, purchase a costly license or cease offering the implicated products or services unless and until ChargePoint can re-engineer them to avoid infringement, which may be a costly and time-consuming process, and ChargePoint may not be able to complete the re-engineering process successfully.

Additionally, the use of certain open-source software can lead to greater risks than use of third-party commercial software, as open-source licensors generally do not provide warranties or controls on the origin of software. There is typically no support available for open-source software, and ChargePoint cannot ensure that the authors of such open-source software will implement or push updates to address security risks or will not abandon further development and maintenance. Many of the risks associated with the use of open-source software, such as the lack of warranties or assurances of title or performance, cannot be eliminated, and could, if not properly addressed, have an adverse effect on ChargePoint's business and results.

***Misuse of ChargePoint's Networked Charging Systems and mobile applications, including its online payment methods, could adversely affect ChargePoint's results of operations, expose it to third-party claims, or increase its exposure to fraud and other risks.***

In each of these charging cases, ChargePoint accepts payments from EV drivers for charging sessions using a variety of different payment methods or receives reimbursements from its roaming partners, which may subject ChargePoint to additional regulations and compliance requirements, and may also increase ChargePoint's exposure to payment fraud, criminal activity, and other risks. ChargePoint has in the past, and may again in the future, be subjected to fraudulent activities related to its ChargePoint Platform and related charging payment services. Further, since the methods and schemes utilized by perpetrators

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of fraud are constantly evolving or, in some cases, not immediately detectable, ChargePoint cannot be certain that its policies, and controls and procedures for detecting third-party payment fraud, will be effective over time or of its ability to update these measures to address emerging fraud risks. If illicit or fraudulent activity levels involving ChargePoint's software services were to rise, it could lead to regulatory intervention, adversely impact ChargePoint's finances, operations and customer relationships, and cause reputational and financial harm.

***Interruptions, delays in service or inability to increase capacity, including internationally, at third-party data center facilities could impair the use or functionality of ChargePoint's subscription services, harm its business and subject it to liability.***

ChargePoint currently serves customers from third-party data center facilities operated by Amazon Web Services and Google Cloud located in the United States, Europe and Canada. Any outage or failure of such data centers could negatively affect ChargePoint's product connectivity and performance. ChargePoint's primary environments are behind the Content Delivery Network operated by Cloudflare, Inc. ("Cloudflare"), and any interruptions of Cloudflare's services could negatively affect ChargePoint's product connectivity and performance. Furthermore, ChargePoint depends on connectivity from its charging stations to its data centers through several cellular service providers, such as Verizon, AT&T, Vodafone, and Semtech Corporation. Any incident affecting a data center facility's or a cellular service provider's infrastructure or operations, whether caused by fire, flood, severe storm, earthquake, or other natural disasters, power loss, telecommunications failures, breach of security protocols, computer viruses and disabling devices, failure of access control mechanisms, war, criminal act, military actions, terrorist attacks and other similar events could negatively affect the use, functionality or availability of ChargePoint's services.

Any damage to, or failure of, ChargePoint's systems, or those of its third-party providers, could interrupt or hinder the use or functionality of its services. Impairment of or interruptions in ChargePoint's services may reduce revenue, subject it to claims and litigation, cause customers to terminate their subscriptions, and adversely affect renewal rates and its ability to attract new customers. ChargePoint's business will also be harmed if customers and potential customers believe its products and services are unreliable.

**Customer-Related Risks**

***ChargePoint may be unable to leverage customer data in all geographic locations, and this limitation may impact research and development operations.***

ChargePoint relies on data collected through charging stations or its mobile application, including usage data and geolocation data. ChargePoint uses this data in connection with the research, development and analysis of its technologies. ChargePoint's inability to obtain necessary rights to use this data or freely transfer this data out of, for example, the European Economic Area, could result in delays or otherwise negatively impact ChargePoint's research and development efforts.

***ChargePoint's ability to maintain customer satisfaction depends in part on the quality of ChargePoint's customer support. Failure to maintain high-quality customer support could adversely affect ChargePoint's reputation, business, results of operations, and financial condition.***

ChargePoint believes that the successful use of its Networked Charging Systems and its ChargePoint Platform requires a high level of support and engagement for many of its customers, particularly its fleet and commercial customers. In order to deliver appropriate customer support and engagement, ChargePoint must successfully assist its customers in deploying and continuing to use ChargePoint's Networked Charging Systems and ChargePoint Platform tools, resolving performance issues, addressing interoperability challenges with a customers' existing information technology or fuel management platforms and responding to Networked Charging Systems component failures or replacement parts, as well as charging station performance and reliability issues that may arise from time to time.

ChargePoint provides support to its commercial, fleet and residential Networked Charging Systems owners and operators. Such support services are generally provided under its extended warranty program ("Assure"), including proactive charging station monitoring, guaranteed service response times and labor and parts warranties. ChargePoint further provides support for EV drivers connecting to and utilizing the ChargePoint Platform and its network of EV charging stations, including customer support services and mobile services. ChargePoint's support organization faces additional challenges associated with its international operations, including those associated with delivering support, training, and documentation in languages other than English. If ChargePoint fails to maintain high-quality customer support or comply with support requirements under its software platform or Assure warranty program, ChargePoint may incur additional costs, be obligated to provide refunds, rebates or pay performance penalties to its customers and EV charging station owners, or suffer the cancellation of software and Assure warranty agreements, the occurrence of any of which may increase ChargePoint's expenses and costs or result in less revenue for ChargePoint, which may adversely affect ChargePoint's reputation, business, results of operations, and financial condition.

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In addition to providing direct customer support, ChargePoint also relies on channel partners in order to provide frontline support to some of its customers, including with respect to commissioning, maintenance, component part replacements and repairs of charging stations. If ChargePoint's channel partners do not provide support to the satisfaction of ChargePoint's customers, ChargePoint may be required to hire additional personnel and to invest in additional resources in order to provide an adequate level of support, generally at a higher cost than that associated with its channel partners, which may increase ChargePoint's costs and expenses and adversely affect ChargePoint's gross margins. There can be no assurance that ChargePoint will be able to hire sufficient support personnel as and when needed. To the extent that ChargePoint is unsuccessful in hiring, training, and retaining adequate support personnel, its ability to provide high-quality and timely support to its customers will be negatively impacted and its customers' satisfaction with its software platform and EV charging stations could be adversely affected. Any failure to maintain high-quality customer support, or a market perception that ChargePoint does not maintain high-quality customer support, could adversely affect ChargePoint's reputation, business, results of operations, and financial condition, particularly with respect to its fleet customers (see also "Risks Related to ChargePoint's Business--Supply chain disruptions, component shortages, increased tariffs, manufacturing interruptions or delays could adversely affect ChargePoint's ability to meet customer demand, lead to higher costs, and adversely affect ChargePoint's business and results of operations.").

***ChargePoint's business will depend on customers renewing their services subscriptions. If customers do not continue to use its subscription offerings or if they fail to add more stations, its business and operating results will be adversely affected.***

In addition to selling Networked Charging Systems, ChargePoint also depends on customers continuing to subscribe to its ChargePoint Platform and Assure warranty coverages. Therefore, it is important that customers renew their subscriptions when the contract term expires and add additional charging stations and services to their subscriptions. Customers may decide not to renew their subscriptions with a similar contract period, at the same prices or terms or with the same or a greater number of users, stations or level of functionality. Customer retention may decline or fluctuate as a result of a number of factors, including satisfaction with software and features, functionality of the charging stations, prices, features and pricing of competing products, reductions in spending levels, mergers and acquisitions involving customers and deteriorating general economic conditions.

If customers do not renew their subscriptions, if they renew on terms less favorable to ChargePoint or if they fail to add products or services, ChargePoint's business and operating results will be adversely affected.

***Changes in subscriptions or pricing models may not be reflected in near-term operating results.***

ChargePoint generally recognizes subscriptions revenue from customers ratably over the terms of their contracts. As a result, most of the subscriptions revenue reported in each quarter is derived from the recognition of deferred revenue relating to subscriptions entered into during previous quarters. Consequently, a decline in new or renewed subscriptions in any single quarter will likely have only a small impact on revenue for that quarter. However, such a decline will negatively affect revenue in future quarters. In addition, the severity and duration of events may not be predictable, and their effects could extend beyond a single quarter. Accordingly, the effect of significant downturns in sales and market acceptance of subscription services, and potential changes in pricing policies or rate of renewals, may not be fully apparent until future periods.

**Financial, Tax and Accounting-Related Risks**

***If ChargePoint fails to maintain an effective system of internal controls, its ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.***

ChargePoint is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Sarbanes-Oxley Act of 2002 ("Sarbanes-Oxley"), and the rules and regulations of the applicable listing standards of the New York Stock Exchange ("NYSE"). Sarbanes-Oxley requires, among other things, that ChargePoint maintain effective disclosure controls and procedures, and internal control, over financial reporting. ChargePoint is continuing to develop and refine its disclosure controls, internal control over financial reporting, and other procedures that are designed to ensure information required to be disclosed in its financial statements and in the reports that it files with the Securities and Exchange Commission ("SEC") is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms, and information required to be disclosed in reports under the Exchange Act is accumulated and communicated to ChargePoint's principal executive and financial officers. In order to maintain and improve the effectiveness of ChargePoint internal controls and procedures, ChargePoint has expended, and will continue to expend, significant resources, including accounting-related costs and significant management oversight.

ChargePoint has previously identified material weaknesses in its internal controls over financial reporting and further, weaknesses in ChargePoint internal controls may be discovered in the future. ChargePoint's current controls and any new

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controls it develops may become inadequate because of changes in conditions in its business. Any failure to develop or maintain effective controls, or any difficulties encountered in their implementation or improvement, could harm ChargePoint's operating results, result in a restatement of ChargePoint's financial statements for prior periods, cause ChargePoint to fail to meet its reporting obligations, and adversely affect the results of periodic management evaluations and annual independent registered public accounting firm attestation reports regarding the effectiveness of ChargePoint's internal control over financial reporting that it will be required to include in the periodic reports filed with the SEC. Ineffective disclosure controls and procedures and internal control over financial reporting could also cause investors to lose confidence in ChargePoint's reported financial and other information, which would likely have a negative effect on the trading price of ChargePoint's Common Stock.

***ChargePoint's financial condition and results of operations are likely to fluctuate on a quarterly basis in future periods, which could cause its results for a particular period to fall below expectations, resulting in a decline in the price of its Common Stock.***

ChargePoint's financial condition and results of operations have fluctuated in the past and may continue to fluctuate in the future due to a variety of factors, many of which are beyond its control.

In addition to the other risks described herein, the following factors could also cause ChargePoint's financial condition and results of operations to fluctuate on a quarterly basis:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the timing and volume of new product sales, including disruptions in quarterly sales if ChargePoint is unable to drive consistently linear billings during the reporting period, seasonality, channel sell-through, inventory management practices, disruptions in supply chains or availability of new EVs to customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fluctuations in service costs, particularly due to unexpected costs of servicing and maintaining charging stations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the timing of new product introductions, which can initially have lower gross margins, and inventory obsolescence costs related to new product transitions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the introduction of new products by competitors, changes in pricing or other factors impacting competition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• weaker than anticipated demand for charging stations, whether due to changes in government incentives and policies or due to other conditions such as decrease in demand for EVs or overall economic conditions such as an economic slowdown or recession;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fluctuations in sales and marketing or research and development expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• supply chain interruptions, volatility in raw material prices and manufacturing or delivery delays;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the timing and availability of new products relative to customers' and investors' expectations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the length of the sales and installation cycle for its customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• disruptions in sales, production, service or other business activities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• inability to attract and retain qualified personnel; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• unanticipated changes in federal, state, local or foreign government incentive programs, which can affect demand for EVs.

Fluctuations in operating results and cash flow could, among other things, give rise to short-term liquidity issues. In addition, revenue, and other operating results in future quarters may fall short of the expectations of investors and financial analysts, which could have an adverse effect on the price of the Common Stock.

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***Changes to applicable U.S. tax laws and regulations or exposure to additional income tax liabilities could affect ChargePoint's business and future profitability.***

ChargePoint is a U.S. corporation and thus subject to U.S. corporate income tax on its worldwide operations. Moreover, the majority of ChargePoint's operations and customers are located in the United States, and as a result, ChargePoint is subject to various U.S. federal, state and local taxes. New U.S. laws and policy relating to taxes may have an adverse effect on ChargePoint's business and future profitability. Further, existing U.S. tax laws, statutes, rules, regulations or ordinances could be interpreted, changed, modified or applied adversely to ChargePoint.

For example, on December 22, 2017, the Tax Cuts and Jobs Act of 2017 ("Tax Act"), was signed into law making significant changes to the Code, and certain provisions of the Tax Act adversely affect ChargePoint. In particular, sweeping changes were made to the U.S. taxation of foreign operations. Changes include, but are not limited to, a reduction to the corporate income tax rate, limiting interest deductions, a reduction to the maximum deduction allowed for net operating losses generated in tax years beginning after December 31, 2017, the elimination of carrybacks of net operating losses, adopting elements of a territorial tax system, assessing a repatriation tax or "toll-charge" on undistributed earnings and profits of U.S.-owned foreign corporations, and introducing certain anti-base erosion provisions, including a new minimum tax on global intangible low-taxed income and base erosion and anti-abuse tax. The Tax Act could be subject to potential amendments and technical corrections, and is subject to interpretations and implementing regulations by the U.S. Treasury and Internal Revenue Service ("IRS"), any of which could mitigate or increase certain adverse effects of the legislation.

In addition, the Tax Act may impact taxation in non-federal jurisdictions, including with respect to state income taxes as state legislatures respond to the Tax Act or any newly enacted federal tax legislation. Additionally, other foreign governing bodies have and may enact changes to their tax laws in reaction to the Tax Act or any newly enacted federal tax legislation that could result in changes to ChargePoint's global tax position and adversely affect its business and future profitability.

***As a result of ChargePoint's operations in multiple jurisdictions, including jurisdictions in which the tax laws may not be favorable, ChargePoint's tax rate may fluctuate, ChargePoint's tax obligations may become significantly more complex and subject to greater risk of examination by taxing authorities or ChargePoint may be subject to future changes in tax law, the impacts of which could adversely affect ChargePoint's after-tax profitability and financial results.***

Because ChargePoint does not have a long history of operating at its present scale and it has significant expansion plans, ChargePoint's effective tax rate may fluctuate in the future. Future effective tax rates could be affected by operating losses in jurisdictions where no tax benefit can be recorded under U.S. generally accepted accounting principles ("U.S. GAAP"), changes in the composition of earnings in countries with differing tax rates, changes in deferred tax assets and liabilities, or changes in tax laws. Factors that could materially affect ChargePoint's future effective tax rates include, but are not limited to: (a) changes in tax laws or the regulatory environment, (b) changes in accounting and tax standards or practices, (c) changes in the composition of operating income by tax jurisdiction and (d) ChargePoint's operating results before taxes.

Additionally, ChargePoint's operations are subject to significant income, withholding and other tax obligations in the United States and may become subject to taxes in numerous additional state, local and non-U.S. jurisdictions with respect to its income, operations and subsidiaries related to those jurisdictions. ChargePoint's after-tax profitability and financial results could be subject to volatility or be affected by numerous factors, including (a) the availability of tax deductions, credits, exemptions, refunds (including refunds of value added taxes) and other benefits to reduce ChargePoint's tax liabilities, (b) changes in the valuation of ChargePoint's deferred tax assets and liabilities, (c) expected timing and amount of the release of any tax valuation allowances, (d) tax treatment of stock-based compensation, (e) changes in the relative amount of ChargePoint's earnings subject to tax in the various jurisdictions in which ChargePoint operates or has subsidiaries, (f) the potential expansion of ChargePoint's business into or otherwise becoming subject to tax in additional jurisdictions, (g) changes to ChargePoint's existing intercompany structure (and any costs related thereto) and business operations, (h) the extent of ChargePoint's intercompany transactions and the extent to which taxing authorities in the relevant jurisdictions respect those intercompany transactions and (i) ChargePoint's ability to structure ChargePoint's operations in an efficient and competitive manner. Due to the complexity of multinational tax obligations and filings, ChargePoint may have a heightened risk related to audits or examinations by U.S. federal, state, local and non-U.S. taxing authorities. Outcomes from these audits or examinations could have an adverse effect on ChargePoint's after-tax profitability and financial condition. Additionally, the IRS and several foreign tax authorities have increasingly focused attention on intercompany transfer pricing with respect to sales of products and services and the use of intangibles. Tax authorities could disagree with ChargePoint's intercompany charges, cross-jurisdictional transfer pricing or other matters and assess additional taxes. If ChargePoint does not prevail in any such disagreements, its profitability may be affected.

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ChargePoint's after-tax profitability and financial results may also be adversely impacted by changes in the relevant tax laws and tax rates, treaties, regulations, administrative practices and principles, judicial decisions and interpretations thereof, in each case, possibly with retroactive effect. For example, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting has entered into force among the jurisdictions that have ratified it, including the United States. These changes could negatively impact ChargePoint's taxation, especially as ChargePoint expands its relationships and operations internationally.

***The ability of ChargePoint to utilize net operating loss and tax credit carryforwards is conditioned upon ChargePoint attaining profitability and generating taxable income. ChargePoint has incurred significant net losses since inception and it is anticipated that ChargePoint will continue to incur significant losses. Additionally, ChargePoint's ability to utilize net operating loss and tax credit carryforwards to offset future taxable income may be limited.***

As of January 31, 2026, ChargePoint had $1,163.6 million of U.S. federal and $456.2 million of California net operating loss carryforwards available to reduce future taxable income, of which $974.9 million of the U.S. federal net operating loss carryforwards can be carried forward indefinitely. The remaining $188.7 million of U.S. federal net operating loss carryforwards begin to expire in 2028 and the California state net operating loss carryforwards begin to expire in 2029. In addition, ChargePoint had net operating loss carryforwards for other states of $515.8 million, which began to expire in 2026. The Tax Act included a reduction to the maximum deduction allowed for net operating losses generated in tax years after December 31, 2017 and the elimination of carrybacks of net operating losses. It is possible that ChargePoint will not generate taxable income in time to utilize these net operating loss carryforwards.

In addition, net operating loss carryforwards and certain tax credits may be subject to significant limitations under Section 382 and Section 383 of the Code, respectively, and similar provisions of state law. Under those sections of the Code, if a corporation undergoes an "ownership change," the corporation's ability to use its pre-change net operating loss carryforwards and other pre-change attributes, such as research tax credits, to offset its post-change income or tax may be limited. In general, an "ownership change" will occur if there is a cumulative change in ownership by "5% stockholders" that exceeds 50 percentage points over a rolling three-year period. ChargePoint has experienced ownership changes since its incorporation and is already subject to limitations on its ability to utilize its existing net operating loss carryforwards and other tax attributes to offset taxable income or tax liability. In addition, changes in the ownership of its Common Stock during its fiscal year ended January 31, 2026 and future changes in ChargePoint's stock ownership, which are outside of ChargePoint's control, may trigger further ownership changes. Similar provisions of state tax law may also apply to limit ChargePoint's use of accumulated state tax attributes. As a result, even if ChargePoint earns net taxable income in the future, its ability to use its net operating loss carryforwards and other tax attributes accrued prior to these changes in ownership to offset such taxable income or tax liability may be subject to limitations, which could potentially result in increased future income tax liability to ChargePoint.

ChargePoint performed an analysis to assess whether an "ownership change," as defined by Section 382 of the Code, has occurred from its inception through January 31, 2026. Based on this analysis, ChargePoint has experienced "ownership changes," limiting the utilization of the net operating loss carryforwards or research and development tax credit carryforwards under Section 382 of the Code by first multiplying the value of the ChargePoint's stock at the time of the ownership change by the applicable long-term tax-exempt rate, and then applying additional adjustments, as required. As a result of the ownership changes, approximately $17.1 million of Federal net operating loss carryforwards, $17.5 million of California net operating loss carryforwards, and $4.7 million of federal tax credits were determined to have expired unutilized for income tax purposes. ChargePoint's net operating losses or credits may also be impaired under state law. Accordingly, ChargePoint may not be able to utilize a material portion of the net operating losses or credits. The ability of ChargePoint to utilize its net operating losses or credits is conditioned upon ChargePoint attaining profitability and generating U.S. federal and state taxable income. ChargePoint has incurred significant net losses since inception and will continue to incur significant losses; and therefore, ChargePoint does not know whether or when the combined carryforwards may be or may become subject to limitation by Sections 382 and 383 of the Code.

***ChargePoint's reported financial results may be negatively impacted by changes in U.S. GAAP.***

U.S. GAAP is subject to interpretation by the Financial Accounting Standards Board's Accounting Standards Codification, the SEC and various bodies formed to promulgate and interpret appropriate accounting principles. A change in these principles or interpretations could have a significant effect on reported financial results, and may even affect the reporting of transactions completed before the announcement or effectiveness of a change.

***ChargePoint faces exposure to foreign currency exchange rate fluctuations which could have a material and adverse effect on its results of operations.***

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ChargePoint conducts transactions with its vendors and customers, as well as intercompany transactions, in currencies other than the U.S. Dollar, primarily the British Pound, Euro, Canadian Dollar and Indian Rupee. ChargePoint records revenues, cost of goods sold and operating expenses in the currencies of its subsidiaries where the transactions take place. As ChargePoint continues to grow its international operations, the amount of its revenues and expenditures that are denominated in foreign currencies will continue to increase in the future. Accordingly, changes in the value of foreign currencies relative to the U.S. Dollar could affect ChargePoint's revenue and operating results due to transactional and translational remeasurements that are reflected in its results of operations. As a result of such foreign currency exchange rate fluctuations, it could be more difficult to detect underlying trends in ChargePoint's business and results of operations. In addition, to the extent that fluctuations in currency exchange rates cause ChargePoint's results of operations to differ from its expectations or the expectations of its investors, the trading price of ChargePoint's common stock could be adversely affected. ChargePoint does not currently maintain a program to hedge exposures in foreign currencies. However, in the future, ChargePoint may use derivative instruments, such as foreign currency forward and option contracts, to hedge exposures to fluctuations in foreign currency exchange rates. The use of such hedging activities may not offset any or more than a portion of the adverse financial effects of unfavorable movements in foreign exchange rates over the limited time the hedges are in place. Moreover, the use of hedging instruments may introduce additional risks if ChargePoint is unable to structure effective hedges with such instruments.

***Impairment of goodwill may require ChargePoint to record a significant charge to earnings.***

ChargePoint is required under generally accepted accounting principles to review its intangible assets for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. Goodwill is required to be tested for impairment at least annually. Factors that may be considered a change in circumstances indicating that the carrying value of ChargePoint's intangible assets and/or goodwill may not be recoverable include a decline in stock price and market capitalization, slower growth rates in ChargePoint's industry or ChargePoint's operations, and/or other materially adverse events that have implications on the profitability of ChargePoint's business. ChargePoint may be required to record additional charges to earnings during the period in which any impairment of its goodwill or other intangible assets is determined which could adversely impact its results of operations.

***ChargePoint incurs significant increased expenses and administrative burdens as a public company, which could have an adverse effect on its business, financial condition and results of operations.***

ChargePoint faces increased legal, accounting, administrative, disclosure and other costs and expenses as a public company. Sarbanes-Oxley, including the requirements of Section 404, as well as rules and regulations subsequently implemented by the SEC, the Dodd-Frank Act and the rules and regulations promulgated and to be promulgated thereunder, the Public Company Accounting Oversight Board and the securities exchanges, impose additional reporting and other obligations on public companies. Compliance with public company requirements increases costs and make certain activities more time-consuming. A number of those requirements require ChargePoint to incur additional expenses associated with SEC reporting requirements. Furthermore, if any issues in complying with those requirements are identified ChargePoint may be subject to additional costs and expenses to come into compliance. ChargePoint has incurred costs and could incur additional costs to rectify new issues, and the existence of these issues could adversely affect its reputation or investor perceptions. In addition, as a public company, ChargePoint maintains director and officer liability insurance, for which it must pay substantial premiums. The additional reporting and other obligations imposed by rules and regulations applicable to public companies increase legal and financial compliance costs and the costs of related legal, accounting and administrative activities. Advocacy efforts by stockholders and third-parties may also prompt additional changes in governance and reporting requirements, which could further increase costs.

**Risks Related to Legal Matters and Regulations**

***ChargePoint may be subject to various types of litigation, and its insurance may not be sufficient to cover damages related to those claims.***

From time-to-time ChargePoint has been, currently is, and may in the future, be involved in lawsuits or other claims arising in the ordinary course of business, including those related to class actions, product liability, consumer protection, employment, breach of contract, intellectual property, tort, privacy and data protection, and other matters. ChargePoint has in the past, and may in the future, incur losses relating to claims filed against it, including costs associated with settling and defending against such claims, and there is risk that any such claims or liabilities will exceed its insurance coverage, not be covered by insurance or affect ChargePoint's ability to retain adequate liability insurance in the future. Even if a claim is unsuccessful or is not fully pursued, the negative publicity surrounding any such assertions could adversely affect ChargePoint's reputation. Due to the inherent uncertainties of litigation and other claims, ChargePoint cannot accurately predict the ultimate outcome of any such matters.

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***Privacy concerns and laws, or other domestic or foreign regulations, may adversely affect ChargePoint's business.***

ChargePoint relies on data collected through charging stations or its mobile application, including usage data and geolocation data. ChargePoint uses this data in connection with providing its services and the research, development and analysis of its technologies. Accordingly, ChargePoint may be subject to or affected by a number of federal, state, local and international laws and regulations, as well as contractual obligations and industry standards, that impose certain obligations and restrictions with respect to data privacy and security and govern its collection, storage, retention, protection, use, processing, transmission, sharing and disclosure of personal information including that of ChargePoint's employees, customers, drivers and other third-parties with whom ChargePoint conducts business. National and local governments and agencies in the countries in which ChargePoint operates and in which its customers operate have adopted, are considering adopting, or may adopt laws and regulations regarding the collection, use, storage, processing and disclosure of information regarding consumers and other individuals, which could impact ChargePoint's ability to offer services in certain jurisdictions. Laws and regulations relating to the collection, use, storage, disclosure, security and other processing of individuals' information can vary significantly from jurisdiction to jurisdiction and are particularly stringent in Europe. The costs of compliance with, and other burdens imposed by, laws, regulations, standards and other obligations relating to privacy, data protection and information security are significant. In addition, some companies, particularly larger enterprises, often will not contract with vendors that do not meet these rigorous standards. Accordingly, the failure, or perceived inability, to comply with these laws, regulations, standards and other obligations may limit the use and adoption of ChargePoint's solutions, reduce overall demand, lead to regulatory investigations, litigation and significant fines, penalties, injunctions or liabilities for actual or alleged noncompliance, or slow the pace at which it closes sales or other transactions, any of which could harm its business. Moreover, if ChargePoint or any of its employees, contractors or vendors fail or are believed to fail to adhere to appropriate practices regarding customers' or employees' data, it may damage its reputation and brand.

Additionally, existing laws, regulations, standards and other obligations may be interpreted in new and differing manners in the future, and may be inconsistent among jurisdictions. Future laws, regulations, standards and other obligations, and changes in the interpretation of existing laws, regulations, standards and other obligations could result in increased regulation, increased costs of compliance and penalties for non-compliance, and limitations on data collection, use, disclosure and transfer for ChargePoint and its customers.

In addition, State Attorneys General have begun enforcement actions under state comprehensive privacy laws. Although ChargePoint initiated compliance programs designed to ensure compliance with state privacy laws after consulting with outside privacy counsel, ChargePoint may remain exposed to ongoing legal risks and compliance costs related to state privacy laws as well as evolving privacy and information security standards under consumer protection laws, including those enforced by the Federal Trade Commission ("FTC"). In the event ChargePoint is subject to litigation, penalties, or enforcement actions pursuant to the EU GDPR, UK GDPR, California Consumer Privacy Act ("CCPA"), California Invasion of Privacy Act ("CIPA") and similar state privacy laws in the United States, the FTC or other applicable state laws, ChargePoint may be subject to fines and penalties, remediation measures which will divert management's time and attention, as well as harm to its reputation.

Marketing and digital advertising laws such as the EU's "e-Privacy Directive" and the federal CAN-SPAM Act in the United States and similar state laws create further risks for ChargePoint should it not comply with those law's requirements concerning marketing, cookies and trackers, and email promotions. The e-Privacy Directive creates a risk of enforcement actions and fines and the CAN-SPAM Act authorizes class actions with statutory damages. In the United States, there are also putative class actions being brought based upon the use of cookies and trackers through novel theories including leveraging "wiretapping" laws. ChargePoint is currently subject to a putative class action filed under CIPA and it may need to expend costs and resources defending such litigation or enforcement action and any potential damages or fines awarded as the result of such actions, which could have an adverse effect on ChargePoint's business and reputation. In addition to government activity, privacy advocacy groups, the technology industry and other industries have established or may establish various new, additional or different self-regulatory standards that may place additional burdens on technology companies. Customers may expect that ChargePoint will meet voluntary certifications or adhere to other standards established by them or third-parties. If ChargePoint is unable to maintain these certifications or meet these standards, it could reduce demand for its solutions and adversely affect its business.

***ChargePoint is subject to risks related to increasing sustainability and environmental, social and governance regulations and disclosure requirements, which may cause ChargePoint to incur significant and additional costs of compliance, and if ChargePoint's fails to comply with such regulations and reporting requirements its reputation and brand could be damaged, and its business, financial condition and results of operations could be adversely impacted.***

ChargePoint's business faces increasing regulation and disclosure obligations related to environmental, social and governance issues, including supply chain management, climate change, safety, diversity and inclusion, workplace conduct, and

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human rights. For example, in October 2023, the State of California adopted SB 253, the Climate Corporate Data Accountability Act, which require companies to annually disclose Scope 1, Scope 2, and Scope 3 greenhouse gas emissions and SB 261, Greenhouse Gases: Climate-Related Financial Risk which will require biennial disclosure of a company's financial risk caused by climate change. ChargePoint may in the future be subject to these and similar reporting requirements. In addition, ChargePoint and certain of its subsidiaries may be subject to the requirements of the European Union's Corporate Sustainability Reporting Directive (and its implementing laws, standards and regulations as well as other related European Union directives and regulations), which will require additional disclosures across environmental, social and governance topics, such as climate change, biodiversity, pollution, resource use, human capital management and supply chain labor standards, among other topics.

These and other reporting or disclosure requirements may not entirely align and thus require ChargePoint to duplicate certain or make different efforts or use different reporting methodologies in order to comply with each regulatory requirement. These, and additional legislation which may be passed, may cause ChargePoint to incur significant additional costs for compliance due to the need for expanded data collection, analysis, and certification with respect to greenhouse gas emissions and other climate change related risks. ChargePoint may also incur additional costs or require additional resources to monitor, report and comply with such stakeholder expectations, standards and legislation, and to meet climate change targets and commitments if established. If ChargePoint fails to meet applicable standards or expectations with respect to these issues across all of its operations and activities, its reputation and brand could be damaged, and its business, financial condition and results of operations could be adversely impacted.

***ChargePoint is subject to evolving technical, safety, metrology (weights and measures), labeling and payment requirements for EV charging equipment and services; failure to comply with, or changes in, these requirements could increase costs, delay deployments, limit revenue recognition, reduce utilization of existing assets, or lead to enforcement actions.***

ChargePoint's Networked Charging Systems and the ChargePoint Platform operate in a regulatory environment that imposes technical and commercial metering requirements when commercial transactions are the basis for sale (e.g., price per kWh), including those embodied in National Institute of Standards and Technology (NIST) Handbook 44 Section 3.40 for EV fueling equipment; compliance is enforced primarily at the state level and through the National Type Evaluation Program (NTEP) certifications or California Type Evaluation Program (CTEP) in California. In certain jurisdictions, these regulations are enforced through county and municipal governments. Additionally, publicly available charging stations in many states must meet payment and disclosure rules (e.g., labeling and fee disclosure requirements). Changes in how these standards are interpreted, phased in, or enforced—or how eligibility rules under government programs are tied to them—could result in additional testing, certification, software changes, retrofits, field "placed in service" procedures, incremental costs or operating expenses, temporary site shutdowns, refunds, penalties, or delayed revenue. If ChargePoint fails to meet these standards, its reputation and brand could be damaged, and its business, financial condition and results of operations could be adversely impacted.

***As a result of ChargePoint's U.S. and international operations, it is subject to a variety of anti-corruption and anti-money laundering laws and regulations, and may face penalties and other adverse consequences for violations if it fails to meet the applicable legal and regulatory requirements.***

Because of its U.S. and international operations, ChargePoint is subject to anti-corruption laws and regulations in the U.S. and internationally, including U.S. domestic bribery laws, the FCPA, the U.S. Travel Act, the Anti-Bribery Act and other applicable anti-bribery and corruption laws. In addition, ChargePoint may be subject to anti-money laundering laws in some countries in which it conducts activities. ChargePoint faces significant risks if it fails to comply with the FCPA and other anti-corruption laws, which are interpreted broadly and collectively prohibit companies and their employees, agents, contractors and other third-party intermediaries from promising, authorizing, offering, providing, soliciting and/or receiving, directly or indirectly, improper payments or anything else of value to or from persons in the public or private sector for the purpose of obtaining or retaining business, directing business to any person, or otherwise securing an improper advantage. The FCPA also requires U.S. public companies to make and keep books and records that accurately and fairly reflect the transactions of the corporation and to devise and maintain an adequate system of internal accounting controls. Enforcement activities under the FCPA, or other applicable anti-corruption laws or anti-money laundering laws may subject ChargePoint to administrative and legal proceedings and actions, which could result in substantial civil and criminal fines and penalties, imprisonment, the loss of export or import privileges, debarment, tax reassessments, preclusion from participating in public tenders, breach of contract and fraud litigation, adverse media coverage, reputational harm, and other consequences that could have an adverse effect on ChargePoint's business, operating results and prospects. In addition, ensuring compliance may be costly and time-consuming and responding to any enforcement action may result in a significant diversion of management's attention and resources, significant defense costs and other professional fees.

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***ChargePoint is subject to governmental export controls and economic sanctions laws that could impair its ability to compete in international markets and subject ChargePoint to liability if it is not in full compliance with applicable laws.***

ChargePoint's business activities are subject to various restrictions under U.S. export controls and trade and economic sanctions laws, including the U.S. Commerce Department's Export Administration Regulations and economic and trade sanctions regulations maintained by the U.S. Treasury Department's Office of Foreign Assets Control. The U.S. export control laws and U.S. economic sanctions laws include prohibitions on the sale or supply of certain products and services to U.S. embargoed or sanctioned countries, governments, persons and entities and also require authorization for the export of encryption items. In addition, various countries regulate the import of certain encryption technology, including through import and licensing requirements, and have enacted laws that could limit ChargePoint's ability to distribute its products and services or could limit ChargePoint's customers' ability to implement ChargePoint's products in those countries. If ChargePoint fails to comply with these laws and regulations, ChargePoint and certain of its employees could be subject to civil or criminal penalties, including the possible loss of export privileges and monetary penalties. Obtaining the necessary authorizations, including any required license, for a particular transaction may be time-consuming, is not guaranteed, and may result in the delay or loss of sales opportunities. ChargePoint's products may have been in the past, and could in the future be, provided inadvertently in violation of such laws, despite the precautions ChargePoint takes to prevent its products from being provided in violation of such laws. Any violation could result in adverse consequences to ChargePoint, including government investigations and penalties which may adversely affect ChargePoint's operations and harm its reputation.

***Existing and future environmental health and safety laws and regulations could result in increased compliance costs or additional operating costs or construction costs and restrictions. Failure to comply with such laws and regulations may result in substantial fines or other limitations that may adversely impact ChargePoint's financial results or results of operations.***

ChargePoint and its operations, as well as those of ChargePoint's contractors, suppliers and customers, are subject to certain environmental laws and regulations, including laws related to the use, handling, storage, transportation and disposal of hazardous substances and wastes as well as electronic wastes and hardware, whether hazardous or not. These laws may require ChargePoint or others in ChargePoint's supply and operations chains to obtain permits and comply with procedures that impose various restrictions and obligations that may have material effects on ChargePoint's operations. If key permits and approvals cannot be obtained on acceptable terms, or if other operational requirements cannot be met in a manner satisfactory for ChargePoint's operations or on a timeline that meets ChargePoint's commercial obligations, it may adversely impact ChargePoint's business.

Environmental and health and safety laws and regulations can be complex and may be subject to change, such as through new requirements enacted at the supranational, national, sub-national and/or local level or new or modified regulations that may be implemented under existing law. The nature and extent of any changes in these laws, rules, regulations and permits may be unpredictable and may have material effects on ChargePoint's business. Future legislation and regulations or changes in existing legislation and regulations, or interpretations thereof, including those relating to hardware manufacturing, electronic waste or batteries, could cause additional expenditures, restrictions and delays in connection with ChargePoint's operations as well as other future projects, the extent of which cannot be predicted.

Further, ChargePoint currently relies on third-parties to ensure compliance with certain environmental laws, including those related to the disposal of hazardous and non-hazardous wastes. Any failure to properly handle or dispose of such wastes, regardless of whether such failure is ChargePoint's or its contractors, may result in liability under environmental laws, including, but not limited to, the Comprehensive Environmental Response, Compensation and Liability Act, under which liability may be imposed without regard to fault or degree of contribution for the investigation and clean-up of contaminated sites, as well as impacts to human health and damages to natural resources. Additionally, ChargePoint may not be able to secure contracts with third-parties to continue their key supply chain and disposal services for ChargePoint's business, which may result in increased costs for compliance with environmental laws and regulations.

**Risks Related to Ownership of ChargePoint's Securities**

***Future sales of ChargePoint's Common Stock in the public market, or the perception that such sales may occur, could reduce ChargePoint's stock price, and any conversions of the 2028 Convertible Notes will, and any additional capital raised through the sale of equity or any future convertible securities ChargePoint may issue could, dilute existing stockholders' ownership.***

ChargePoint may raise additional capital through the issuance of equity or debt securities in the future. In that event, the ownership of existing ChargePoint stockholders would be diluted and the value of the stockholders' equity in Common Stock could be reduced. If ChargePoint raised more equity capital from the sale of its Common Stock, institutional or other investors

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may negotiate terms more favorable than the current prices of ChargePoint's Common Stock. If ChargePoint issues debt securities, the holders of the debt would have a claim to ChargePoint assets that would be prior to the rights of stockholders until the debt is repaid. Interest on these debt securities would increase costs and could negatively impact operating results. In November 2025, ChargePoint completed a private exchange of $328.6 million of aggregate capitalized principal amount of its convertible notes with a maturity date of April 1, 2028 (the "2028 Convertible Notes" and such exchange, the "Exchange Transaction") resulting in $11.3 million of its 2028 Convertible Notes remaining outstanding. In connection with the Exchange Transaction, ChargePoint (i) issued $186.5 million in senior secured loans (the "2025 Senior Loan") pursuant to the 2025 Credit Agreement (described below), (ii) paid $25.0 million in cash, and (iii) issued warrants to purchase up to 1,671,000 shares of ChargePoint's Common Stock at an exercise price of $25.00 per share (the "2025 Warrants"). Pursuant to the 2025 Senior Loan, ChargePoint has the option, during the first year that the 2025 Senior Loan is outstanding, to elect to issue shares of ChargePoint Common Stock ("Interest Shares") in an amount equal to the quotient of (i) the amount of interest in respect of such interest period otherwise payable in cash and (ii) a price per share equal to the volume-weighted average price per share of ChargePoint's Common Stock for the thirty (30) consecutive trading days immediately preceding (but not including) the applicable interest payment date. Through April 30, 2026, ChargePoint has issued 1,393,152 of Interest Shares pursuant to the 2025 Senior Loan. The 2025 Senior Loan and 2028 Convertible Notes may decrease ChargePoint's business flexibility and access to capital, require a significant amount of cash to service, dilute the ownership interest of existing stockholders and otherwise depress the price of its Common Stock, and delay or hinder an otherwise beneficial takeover of the Company.

In addition, ChargePoint previously filed a Registration Statement on Form S-3 (File No. 333-265986), which permitted ChargePoint to offer up to $1.0 billion of shares of ChargePoint Common Stock, preferred stock, debt securities, warrants and rights in one or more offerings and in any combination, including in units from time to time, and simultaneously entered into an "at-the-market" sales agreement dated July 1, 2022, by and among ChargePoint and the underwriters thereto (the "2022 ATM Facility") which permitted ChargePoint to make offerings of up to $500.0 million of its Common Stock from time to time. On July 11, 2025, ChargePoint terminated the 2022 ATM Facility, and on September 8, 2025, ChargePoint entered into a new "at-the-market" sales agreement, by and between ChargePoint and the underwriter thereto, pursuant to which ChargePoint may from time to time sell shares of its Common Stock having an aggregate offering price of up to $150.0 million (the "2025 ATM Facility"). Sales of ChargePoint Common Stock pursuant to the 2025 ATM Facility, if any, will be made under ChargePoint's registration statement on Form S-3 (File No. 333-290113) that ChargePoint filed with the SEC on September 8, 2025, amended on December 5, 2025 and was declared effective by the SEC on December 8, 2025 (the "2025 Shelf Registration Statement"). The 2025 Shelf Registration Statement will facilitate offers of up to $400.0 million of shares of Common Stock, preferred stock, debt securities, warrants and rights in one or more offerings and in any combination, including in units from time to time. The sale of a substantial number of shares of ChargePoint's Common Stock pursuant to the 2025 ATM Facility, the 2025 Shelf Registration Statement or otherwise, or anticipation of any such sales, could cause the trading price of ChargePoint's Common Stock to decline or make it more difficult for ChargePoint to sell equity or equity-related securities in the future at a time and at a price that ChargePoint might otherwise desire. In addition, issuances of any shares of ChargePoint's Common Stock sold pursuant to the 2025 ATM Facility or any securities sold pursuant to the 2025 Shelf Registration Statement will have a dilutive effect on our existing stockholders.

In accordance with Delaware law and the provisions of ChargePoint's Second Amended and Restated Certificate of Incorporation, as amended (the "Charter"), ChargePoint may issue preferred stock that ranks senior in right of dividends, liquidation or voting to its Common Stock. The issuance by ChargePoint of such preferred stock may (a) reduce or eliminate the amount of cash available for payment of dividends to other holders of ChargePoint's Common Stock, (b) diminish the relative voting strength of the total shares of Common Stock outstanding as a class, or (c) subordinate the claims of ChargePoint holders of Common Stock to ChargePoint assets in the event of a liquidation. ChargePoint cannot predict the size of future issuances of its Common Stock or any additional issuances of securities convertible into Common Stock or the effect, if any, that future issuances and sales of shares of its Common Stock will have on the market price of its Common Stock. Sales of substantial amounts of ChargePoint's Common Stock, including any shares issued upon the conversion or restructuring of the 2028 Convertible Notes, or pursuant to the 2025 ATM Facility, the 2025 Shelf Registration Statement, any Interest Shares issued under the 2025 Credit Agreement, or in connection with an acquisition, or the perception that such sales could occur, may adversely affect prevailing market prices of ChargePoint's Common Stock.

***ChargePoint has entered into the 2025 Credit Agreement, which imposes certain restrictions on its business and operations that may affect its ability to operate its business and make payments on its indebtedness.***

ChargePoint, ChargePoint's subsidiary, ChargePoint, Inc. (the "Borrower"), and certain subsidiaries of ChargePoint as guarantors (the "Subsidiary Guarantors," and together with ChargePoint and the Borrower, the "Credit Parties") entered into a Credit and Security Agreement on November 14, 2025 with Alter Domus (US) LLC, as administrative agent and collateral agent, and the lenders party thereto, as amended by Amendment No. 1 to Credit and Security Agreement, dated April, 23, 2026, (collectively, the "2025 Credit Agreement"). The 2025 Credit Agreement provides for the 2025 Senior Loan in an initial aggregate principal amount of $186.5 million. The 2025 Senior Loan matures on January 31, 2030 and does not amortize,

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except as described below. In accordance with the 2025 Credit Agreement, the Borrower prepaid an aggregate of $30.0 million of the 2025 Senior Loans in two equal installments of $15.0 million each, the first of which occurred on November 24, 2025, and the second of which occurred on February 17, 2026. The remaining 2025 Senior Loan bears interest at a fixed rate of 12.00% per annum, payable quarterly. For each of the first four quarterly interest payment dates, the Borrower may elect to pay in Interest Shares, valued based on the 30-day trailing volume-weighted average price ("VWAP") preceding the applicable interest payment date. Issuance of Interest Shares is subject to a cap of 19.99% of the Company's outstanding shares of Common Stock to comply with NYSE listing requirements, unless stockholder approval is obtained.

The Borrower's obligations under the 2025 Credit Agreement are guaranteed by ChargePoint and the Subsidiary Guarantors. In addition, the 2025 Senior Loan is secured by (i) a first priority pledge of the equity securities of the Borrower and certain of its subsidiaries, subject to customary exceptions (including a 65% limitation on pledges of first-tier foreign subsidiary equity, except with respect to foreign subsidiaries in specified jurisdictions), and (ii) first priority security interests in substantially all current and after-acquired tangible and intangible personal property of the Credit Parties, including intellectual property, in each case, subject to customary exclusions, permitted liens and other agreed limitations.

The 2025 Credit Agreement permits the Borrower to make voluntary prepayments at its discretion. On or prior to the second anniversary of the closing date, voluntary principal payments in respect of the 2025 Senior Loan and mandatory principal payments in connection with any acceleration of the 2025 Senior Loan will be subject to a customary make-whole premium based on the yield on U.S. Treasury notes with a maturity closest to the second anniversary of the closing date plus 50 basis points. Thereafter, principal payments in respect of such 2025 Senior Loan will be subject to a premium equal to (x) 2.00% after the second anniversary of the closing date and on or prior to the third anniversary of the closing date and (y) 0.00% thereafter. Notwithstanding the foregoing in the event of a change of control (as such term is defined in the 2025 Credit Agreement), the agent and the lenders constituting the required lenders (as such term is defined in the 2025 Credit Agreement) may declare 100% of the principal of, and accrued and unpaid interest, if any, on, the 2025 Senior Loan to be due and payable immediately, together with an additional prepayment premium in an amount equal to (1) 3.00% on or prior to the second anniversary of the closing date, (2) 2.00% after the second anniversary of the closing date and on or prior to the third anniversary of the closing date and (3) 0.00% thereafter.

The 2025 Credit Agreement contains (i) customary affirmative and negative covenants that, among other things, restrict the ability of ChargePoint and its subsidiaries to incur additional indebtedness, incur liens, make investments or acquisitions, declare or pay dividends or other restricted payments, dispose of assets, or enter into transactions with affiliates and (ii) customary events of default, including a cross-default to material indebtedness and bankruptcy-related triggers. In addition, the 2025 Credit Agreement requires the Borrower to maintain minimum liquidity of $25.0 million, tested on the last business day of each fiscal month. Liquidity includes unrestricted cash and cash equivalents held by the credit parties and up to $10.0 million in unused commitments under any revolving credit facility.

ChargePoint's ability to satisfy and comply with these restrictive covenants may be impacted by events beyond its control and ChargePoint may be unable to do so. The 2025 Credit Agreement and related security agreements provide that ChargePoint's breach or failure to satisfy certain covenants may constitute an event of default. Upon the occurrence of an event of default, the lenders under the 2025 Credit Agreement could elect to declare all amounts outstanding under the 2025 Credit Agreement to be immediately due and payable. In addition, the lenders, to whom the Credit Parties granted a security interest in substantially all of their respective assets, including their intellectual property, would have the right to proceed against such assets which were provided as collateral pursuant to the 2025 Credit Agreement and related security agreements. If any of the 2025 Senior Loan outstanding under the 2025 Credit Agreement was to be accelerated, ChargePoint may not have sufficient cash on hand or be able to generate sufficient cash to repay it, which may have an adverse effect on its business and operating results. Moreover, the 2025 Credit Agreement requires ChargePoint to dedicate a portion of its cash flow from operations to cash interest payments after the first four quarterly interest payments, thereby reducing the availability of ChargePoint's cash to fund working capital, capital expenditures and other general corporate purposes; increasing ChargePoint's vulnerability to adverse general economic, industry, or competitive developments or conditions; and limiting ChargePoint's flexibility in planning for, or reacting to, changes in its business and the industry in which it operates or in pursuing its strategic objectives.

***ChargePoint may need to raise additional funds to support its operations and these funds may not be available when needed or may not be available on terms that are favorable to ChargePoint.***

ChargePoint may need to raise additional capital in the future to further scale its business, expand to additional markets or repay or refinance its existing indebtedness, including its 2025 Senior Loan or 2028 Convertible Notes. ChargePoint may raise additional funds through the issuance of equity, equity-related or debt securities, or through obtaining credit from government or financial institutions. ChargePoint cannot be certain that additional funds will be available on favorable terms when required, or at all. In addition, if ChargePoint cannot raise additional funds when needed, its financial condition, results of operations, business and prospects could be materially and adversely affected. If ChargePoint raises funds through the issuance

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of debt securities or through loan arrangements, the terms of such arrangements could require significant interest payments or contain covenants that restrict ChargePoint's business, or other unfavorable terms, any of which could materially adversely affect ChargePoint's business.

***ChargePoint has incurred substantial indebtedness that may decrease its business flexibility, access to capital, and/or increase its borrowing costs, and ChargePoint may still incur substantially more debt, which may adversely affect its operations and financial results.***

The 2025 Credit Agreement includes broad restrictions and limitations on the additional indebtedness that ChargePoint and its subsidiaries may incur, provided however, that, in addition to certain customary exceptions to such restrictions and limitations, ChargePoint may raise additional non-recourse indebtedness through a qualified receivables financing or qualified receivables factoring facility in a principal amount not to exceed the lesser of $75 million and fifty percent (50.0%) of the sum of ChargePoint's Working Capital Balances (as defined in the 2025 Credit Agreement). Further, in April 2022, ChargePoint originally issued the 2028 Convertible Notes. The indenture for the 2028 Convertible Notes includes a restrictive covenant that, subject to specified exceptions, limits the ability of ChargePoint and its subsidiaries to incur secured debt in excess of $750.0 million. In addition, the indenture for the 2028 Convertible Notes separately includes customary terms and covenants, including certain events of default after which the holders of the 2028 Convertible Notes may accelerate the maturity of the 2028 Convertible Notes and declare 100% of the outstanding principal of, and accrued and unpaid interest, if any, on the 2028 Convertible Notes to become due and payable immediately.

The 2025 Credit Agreement provides that ChargePoint's breach or failure to satisfy certain covenants may constitute an event of default. Upon the occurrence of an event of default, the lenders under the 2025 Credit Agreement could elect to declare all amounts outstanding under the 2025 Credit Agreement to be immediately due and payable. As a result of these and other terms in the 2025 Credit Agreement and 2028 Convertible Notes, ChargePoint's indebtedness may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• limit ChargePoint's ability to borrow additional funds for working capital, capital expenditures, acquisitions or other general business purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• limit ChargePoint's ability to use its cash flow or obtain additional financing for future working capital, capital expenditures, acquisitions or other general business purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• require ChargePoint to use a substantial portion of its cash flow from operations to make debt service payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• limit ChargePoint's flexibility to plan for, or react to, changes in its business and industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• place ChargePoint at a competitive disadvantage compared to its less leveraged competitors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increase ChargePoint's vulnerability to the impact of adverse economic and industry conditions.

Further, the indenture governing the 2028 Convertible Notes does not restrict ChargePoint's ability to incur additional indebtedness other than secured debt, and the 2025 Credit Agreement includes certain exceptions to the restrictions and limitations on additional indebtedness that ChargePoint and its subsidiaries may incur, as described above. As a result, ChargePoint and its subsidiaries may incur substantial additional indebtedness in the future.

***ChargePoint has never paid cash dividends on its capital stock and does not anticipate paying dividends in the foreseeable future.***

ChargePoint has never paid cash dividends on its capital stock and currently intends to retain any future earnings to fund the growth of its business. Any determination to pay dividends in the future will be at the discretion of ChargePoint's board of directors (the "Board") and will depend on financial condition, operating results, capital requirements, general business conditions and other factors that the Board may deem relevant. As a result, capital appreciation, if any, of Common Stock will be the sole source of gain for the foreseeable future.

***The price of ChargePoint's Common Stock may be subject to wide fluctuations and purchasers of ChargePoint's Common Stock could incur substantial losses.***

The trading price of ChargePoint's Common Stock will be volatile and could be subject to wide fluctuations in response to various factors, some of which are beyond ChargePoint's control. These factors include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actual or anticipated fluctuations in operating results;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to meet or exceed financial estimates and projections of the investment community or that ChargePoint provides to the public;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• issuance of new or updated research or reports by securities analysts or changed recommendations for the industry in general;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• announcements of significant acquisitions, strategic partnerships, joint ventures, collaborations or capital commitments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in competitive factors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• operating and share price performance of other companies in ChargePoint's industry or related markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• sales of shares of ChargePoint's Common Stock into the market;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the timing and magnitude of investments in the growth of the business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actual or anticipated changes in laws and regulations, including U.S. monetary policy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• additions or departures of key management or other personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increased labor costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• significant commercial disputes, litigation or threats of litigation with key commercial partners, investors or stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• disputes or other developments related to intellectual property or other proprietary rights, including litigation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the ability to market new and enhanced solutions on a timely basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• sales of substantial amounts of the Common Stock by the members of the Board, executive officers or significant stockholders or the perception that such sales could occur;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in capital structure, including future issuances of securities or the incurrence of debt; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• general economic, political and market conditions, including those resulting from the ongoing conflict between Russia and Ukraine, ongoing conflicts in the Middle East involving the United States, Iran, Israel and other Gulf States, rising political tensions with China and increased trade restrictions by governmental and private entities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to maintain compliance with the listing standards of the NYSE.

In addition, the stock market in general, and the stock prices of technology companies in particular, have experienced extreme price and volume fluctuations. Broad market and industry factors likely have seriously affected and may continue to seriously affect the market price of ChargePoint's Common Stock, regardless of actual operating performance. In addition, in the past, following periods of volatility in the overall market and the market price of a particular company, such a company has often been subject to increased shareholder activism, hostile bids attempts or securities class action litigation. If ChargePoint is subject to increased shareholder activism, hostile bids or additional securities class action litigation as a result of actual and potential market price volatility described above, it could result in substantial costs, divert management's attention and resources and could have an adverse effect on ChargePoint's operating results, financial condition and results of operations.

***ChargePoint is currently and may in the future be subject to securities class action and stockholder derivative actions. These, and potential similar or related litigation, could result in substantial damages, divert management's time and attention from ChargePoint's business and adversely impact its business, results of operations and financial condition.***

ChargePoint is currently, and may in the future become, the target of securities class actions or stockholder derivative claims. Securities-related class action litigation has often been brought against companies as the result of volatility experienced in the market price of their securities. This risk is especially relevant for ChargePoint as it experiences significant stock price volatility in connection with the expansion of the developing electric vehicle charging infrastructure market and introduction of new products. Volatility in ChargePoint's stock price and other matters affecting ChargePoint's business and operations has, and may in the future, subject ChargePoint to actual and threatened securities class actions or stockholder derivative claims. For example, on November 29, 2023, a class action lawsuit alleging violations of federal securities laws was filed against ChargePoint and certain of its former officers, and a second class action lawsuit was filed on January 22, 2024. In May 2024,

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the U.S. District Court for the Northern District of California consolidated the class actions into one action captioned Khan v. ChargePoint Holdings, Inc., et al. The operative complaint alleges that ChargePoint and certain of its former officers made materially false and misleading statements in violation of Section 10(b) and Rule 10(b)-5(b) of the Exchange Act regarding, (1) ChargePoint's revenue; and (2) the value of ChargePoint's inventory. The plaintiffs also allege that ChargePoint and certain of its former officers engaged in a scheme to prematurely recognize revenue in violation of Section 10(b) and Rules 10(b)-5(a) and (c) of the Exchange Act. Derivative actions have been filed in the U.S. District Court for the District of Delaware and the U.S. District Court for the Northern District of California against the Board and certain of its former officers, alleging that they breached their fiduciary duties to ChargePoint in connection with the same alleged events and alleged materially false and misleading statements asserted in the class action described above. In connection with the class action, ChargePoint could be forced to make significant payments to or other settlements with its stockholders and their lawyers that are outside of ChargePoint's insurance coverage, and such payments or settlement arrangements could have a material adverse effect on ChargePoint's business, operating results or financial condition. In addition, ChargePoint's involvement in these matters, as well as any future litigation or other administrative proceedings could cause ChargePoint to incur substantial expenses and could significantly divert the time and attention of ChargePoint's management. Any public announcements related to litigation or administrative proceedings initiated or threatened against ChargePoint could cause its stock price to decline. See Note 7, *Commitments and Contingencies* in Part I, Item 1, "Financial Statements" of this Quarterly Report on Form 10-Q, under "Legal Proceedings" for more information related to ChargePoint's existing securities class action and stockholder derivative actions.

***Servicing the 2025 Senior Loan and 2028 Convertible Note obligations will require a significant amount of cash.***

ChargePoint's ability to make scheduled payments of the principal of, to pay interest on, or to refinance its indebtedness, including the amounts payable under the 2025 Credit Agreement and 2028 Convertible Notes, depends on its future performance, which is subject to economic, financial, competitive, and other factors beyond its control. ChargePoint's business may not generate cash flow from operations in the future sufficient to service its indebtedness and make necessary capital expenditures.

The 2025 Senior Loan will bear interest at a fixed rate of 12.00% per annum, payable quarterly. For each of the first four quarterly interest payment dates, after November 14, 2025 the Borrower may elect to pay Interest Shares in shares of common stock of ChargePoint, valued based on the 30-day VWAP preceding the applicable interest payment date and the Borrower did elect to pay Interest Shares for the first two quarterly interest payments. Issuance of Interest Shares is subject to a cap of 19.99% of the Company's outstanding shares of Common Stock to comply with NYSE listing requirements, unless stockholder approval is obtained. After the first four quarterly interest payments, ChargePoint will pay cash interest on a quarterly basis on each of February 15, May 15, August 15 and November 15. Interest on the 2028 Convertible Notes is payable semi-annually in arrears on April 1 and October 1, and the 2028 Convertible Notes will mature on April 1, 2028, unless redeemed, repurchased or converted in accordance with their terms prior to such date. ChargePoint can elect to make any interest payment with respect to the 2028 Convertible Notes in cash, or in kind through an increase in the principal amount of the 2028 Convertible Notes (PIK Interest) (or any combination thereof). To the extent ChargePoint elects PIK Interest, the 2028 Convertible Notes bear interest at a rate of 8.50% per annum, compared to 7.00% per annum to the extent paid in cash. For the interest periods from April 1, 2025 through October 1, 2025, ChargePoint elected the option of paying PIK Interest which increased the effective interest rate payable on the 2028 Convertible Notes, increased the capitalized principal amount of the 2028 Convertible Notes and may increase dilution to ChargePoint's stockholders to the extent the 2028 Convertible Notes are converted into shares of Common Stock pursuant to their terms. See Note 6, *Debt* in Part I, Item 1, "Financial Statements" of this Quarterly Report on Form 10-Q, under "2028 Convertible Notes" for more information related to ChargePoint's election of PIK Interest payments.

If ChargePoint is unable to generate sufficient cash flow to pay the principal and/or interest on its indebtedness, ChargePoint's flexibility in how it pays interest on the 2025 Senior Loan and 2028 Convertible Notes may be limited and it may be required to adopt one or more alternatives, such as selling assets, restructuring debt, or obtaining additional equity capital on terms that may be onerous or highly dilutive, to pay its outstanding indebtedness. ChargePoint's ability to refinance its indebtedness will depend on the capital markets and its financial condition at such time. For example, interest rate increases and/or other monetary policy changes, could ultimately result in higher short-term and/or long-term interest rates and could otherwise impact the general availability of credit. Higher prevailing interest rates and/or a tightening supply of credit would adversely affect the terms upon which ChargePoint would be able to refinance its indebtedness, if at all. As a result, ChargePoint may not be able to engage in any of these activities or engage in these activities on desirable terms, which could result in a default on its debt obligations.

In the event of a change of control (as such term is defined in the 2025 Credit Agreement) holders of the outstanding principal amount of the 2025 Senior Loan will have the right to repayment of the outstanding initial term loan and an additional prepayment premium equal to (i) 3% of the outstanding initial term loan amount if made on or prior to November 14, 2027, or (ii) 2% of the outstanding initial term loan amount if made after November 14, 2027 and prior to November 14, 2028, in each case plus any accrued and unpaid interest. In the event of a fundamental change or a change in control transaction (each such

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term as defined in the indenture governing the 2028 Convertible Notes), holders of the 2028 Convertible Notes will have the right to require ChargePoint to repurchase all or a portion of their 2028 Convertible Notes at a price equal to 100% of the capitalized principal amount of 2028 Convertible Notes, in the case of a fundamental change, or 125% of the capitalized principal amount of 2028 Convertible Notes, in the case of a change in control transaction, in each case plus any accrued and unpaid interest to, but excluding, the repurchase date.

These features of the 2025 Senior Loan and 2028 Convertible Notes could have the effect of delaying or preventing a change of control of ChargePoint, whether or not it is desired by, or beneficial to, ChargePoint's stockholders, and may result in the acquisition of ChargePoint on terms less favorable to its stockholders than it would otherwise be, or could require ChargePoint to pay a portion of the consideration available in such a transaction to lenders under the 2025 Credit Agreement or holders of the 2028 Convertible Notes. In addition, upon conversion of the 2028 Convertible Notes, unless ChargePoint elects to deliver solely shares of its Common Stock to settle such conversion (other than paying cash in lieu of delivering any fractional share), ChargePoint will be required to make cash payments in respect of the 2028 Convertible Notes being converted. However, ChargePoint may not have enough available cash, or be able to obtain sufficient financing, at the time it is required to pay cash with respect to the 2028 Convertible Notes being converted.

***The conditional conversion feature of the 2028 Convertible Notes, when triggered, may adversely affect ChargePoint's financial condition and operating results. In addition, any such conversion of the 2028 Convertible Notes will dilute the ownership interest of existing stockholders, including holders who had previously converted their 2028 Convertible Notes, or may otherwise depress ChargePoint's stock price.***

Prior to the close of business on the business day immediately preceding January 1, 2027, the 2028 Convertible Notes will be convertible subject to the satisfaction of certain conditions set forth in the indenture for such 2028 Convertible Notes. On or after January 1, 2027, holders of the 2028 Convertible Notes will have the right to convert all or a portion of their 2028 Convertible Notes at any time prior to close of business on the second scheduled trading day immediately preceding the maturity date. Once any such conditional conversion feature of the 2028 Convertible Notes is triggered, holders of the 2028 Convertible Notes will be entitled to convert their 2028 Convertible Notes at any time during the specified periods at their option. If one or more holders elect to convert their 2028 Convertible Notes, unless ChargePoint elects to satisfy its conversion obligation by delivering solely shares of its Common Stock (other than paying cash in lieu of delivering any fractional share), ChargePoint would be required to settle a portion or all of its conversion obligation in cash, which could adversely affect its liquidity.

In addition, the conversion of some or all of the 2028 Convertible Notes will dilute the ownership interests of existing stockholders to the extent ChargePoint delivers shares of Common Stock upon such conversion. Any sales in the public market of ChargePoint Common Stock issuable upon such conversion could adversely affect prevailing market prices of ChargePoint Common Stock. In addition, the existence of the 2028 Convertible Notes may encourage short selling by market participants because the conversion of the 2028 Convertible Notes could be used to satisfy short positions, or anticipated conversion of the 2028 Convertible Notes into shares of ChargePoint's Common Stock could depress ChargePoint's stock price.

***The accounting method for convertible debt securities that may be settled in cash, such as the 2028 Convertible Notes, could have a material effect on ChargePoint's reported financial results.***

The accounting method for reflecting the 2028 Convertible Notes on ChargePoint's balance sheet, accruing interest expense for the 2028 Convertible Notes, and reflecting the underlying shares of its Common Stock in ChargePoint's reported diluted earnings per share may adversely affect its reported earnings and financial condition.

ChargePoint expects that, under applicable accounting principles, the initial liability carrying amount of the $11.8 million aggregate principal amount of convertible notes originally issued by ChargePoint on April 1, 2022 (the "Original Convertible Notes") will be the fair value of a similar debt instrument that does not have a conversion feature, valued using its cost of capital for straight, unconvertible debt. ChargePoint has reflected the difference between the net proceeds from the sale of the Original Convertible Notes and the initial carrying amount as a debt discount for accounting purposes, which is amortized into interest expense over the term of the Original Convertible Notes. The amendment of the indenture originally governing the Original Convertible Notes in October 2023 resulted in the Company utilizing modification accounting, which resulted in the increase in the fair value of the embedded conversion option feature to further reduce the carrying value of the 2028 Convertible Notes, as amended, resulting in an increase in debt issuance cost to be amortized to interest expense over the repayment period. As a result of this amortization, the interest expense to be recognized for the 2028 Convertible Notes for accounting purposes will be greater than the cash interest payments ChargePoint may pay on the 2028 Convertible Notes, were it to elect to pay interest in cash, which results in lower reported net income. The lower reported income (or higher net loss) resulting from this accounting treatment could depress the trading price of ChargePoint's Common Stock and the 2028

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Convertible Notes. In addition, under Accounting Standards Update 2020-06, Debt--Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging--Contracts in Entity's Own Equity (Subtopic 815-40), diluted earnings per share is generally calculated assuming that all the 2028 Convertible Notes were converted solely into shares of Common Stock at the beginning of the reporting period, unless the result would be anti-dilutive. The application of this "if-converted" method may reduce ChargePoint's reported diluted earnings per share.

Furthermore, if any of the conditions to the convertibility of the 2028 Convertible Notes is satisfied, then ChargePoint may be required under applicable accounting standards to reclassify the liability carrying value of the 2028 Convertible Notes as a current, rather than a long-term, liability. This reclassification could be required even if no noteholders convert their 2028 Convertible Notes and could materially reduce ChargePoint's reported working capital.

***ChargePoint recently completed a reverse stock split of its shares of Common Stock, which could adversely affect the market price and liquidity of ChargePoint's Common Stock due to the reduced number of shares outstanding and could potentially have an antitakeover effect.***

On February 19, 2025, ChargePoint received a notification letter from the NYSE that it was not in compliance with the continued listing requirements of the NYSE because the average closing price of its Common Stock was less than $1.00 over a consecutive 30 trading-day period, which is the minimum price criteria required to maintain listing on the NYSE under Section 802.01C of the NYSE Listed Company Manual (the "Minimum Price Criteria"). On July 28, 2025, ChargePoint effected a 1-for-20 reverse stock split of its Common Stock (the "Reverse Stock Split") and its shares began trading on a post-split basis on July 28, 2025. Subsequently, ChargePoint received notice from the NYSE that as of July 31, 2025, ChargePoint was no longer considered below the Minimum Price Criteria. While ChargePoint intends to maintain continued compliance with the Minimum Price Criteria and the other listing requirements of the NYSE, there is no guarantee that ChargePoint will be successful. Further, if ChargePoint fails to meet the Minimum Price Criteria, and (i) ChargePoint has effected a reverse stock split over the prior one-year period or (ii) has effected one or more reverse stock splits over the prior two-year period with a cumulative ratio of 200 shares or more to one, then ChargePoint will not be eligible for any cure period specified in Section 802.01C of the NYSE Listed Company Manual and the NYSE will immediately commence suspension and delisting procedures with respect to ChargePoint's Common Stock in accordance with Section 804.00 of the NYSE Listed Company Manual. If, in the future, ChargePoint is unable to meet the Minimum Price Criteria or any other continued listing requirement of the NYSE, ChargePoint's Common Stock could be delisted from the NYSE. If ChargePoint's Common Stock were to be delisted, the liquidity of ChargePoint's Common Stock would be adversely affected and the market price of its Common Stock could decrease. In addition, trading of ChargePoint's Common Stock would likely be conducted on an over-the-counter market, such as those maintained by OTC Markets Group. Such a downgrading in ChargePoint's listing market could limit its ability to make a market in its Common Stock and could impact purchases or sales of its securities, and investors could find it more difficult to dispose of, or to obtain accurate quotations as to the price of, ChargePoint's Common Stock. To relist shares of ChargePoint's Common Stock on the NYSE, ChargePoint would also be required to meet the initial listing requirements for the NYSE, which are more stringent than the continued listing requirements.

Reducing the number of outstanding shares of ChargePoint's Common Stock through the Reverse Stock Split increased the per share trading price of ChargePoint's Common Stock which, in turn, caused ChargePoint to meet the Minimum Price Criteria. However, there is no assurance that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the market price per share of ChargePoint's Common Stock after the Reverse Stock Split will rise in proportion to the reduction in the number of shares outstanding before the Reverse Stock Split;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Reverse Stock Split will result in a per-share price that would attract brokers and investors who do not trade in lower-priced stocks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Reverse Stock Split will result in a per-share price that will increase ChargePoint's ability to attract and retain employees and other service providers; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Reverse Stock Split will promote greater liquidity for ChargePoint's stockholders with respect to their shares.

In addition, the Reverse Stock Split reduced the number of outstanding shares of ChargePoint's Common Stock without reducing the number of shares of available but unissued Common Stock, increasing the number of authorized but unissued shares of Common Stock. Therefore, the number of shares of ChargePoint's Common Stock that are authorized and unissued has increased relative to the number of issued and outstanding shares of ChargePoint's Common Stock following the Reverse Stock Split. The Board may authorize the issuance of the remaining authorized and unissued shares without further stockholder action for a variety of purposes, except as such stockholder approval may be required in particular cases by the Charter, applicable law or the rules of any stock exchange on which ChargePoint's securities may then be listed. The issuance of additional shares would be dilutive to ChargePoint's existing stockholders and may cause a decline in the trading price of

------

ChargePoint's Common Stock. The issuance of authorized but unissued shares of Common Stock could be used to deter a potential takeover of ChargePoint that may otherwise be beneficial to stockholders by diluting the shares held by a potential suitor or issuing shares to a stockholder that will vote in accordance with the Board's desires. A takeover may be beneficial to independent stockholders because, among other reasons, a potential suitor may offer such stockholders a premium for their shares of stock compared to the then-existing market price. ChargePoint does not have any plans or proposals to adopt provisions or enter into agreements that may have material anti-takeover consequences.

The market price of ChargePoint's Common Stock is based on ChargePoint's performance and other factors, some of which are unrelated to the number of shares outstanding. If the market price of ChargePoint's Common Stock declines, the percentage decline as an absolute number and as a percentage of ChargePoint's overall market capitalization may be greater than would have occurred in the absence of the Reverse Stock Split.

***The coverage of ChargePoint's business or its securities by securities or industry analysts or the absence thereof could adversely affect the trading price and volume of ChargePoint's Common Stock and other securities.***

The trading market for ChargePoint's securities is influenced in part by the research and other reports that industry or securities analysts publish about ChargePoint or its business or industry from time to time. ChargePoint does not control these analysts or the content and opinions included in their reports. If no or few analysts continue equity research coverage of ChargePoint, the trading price and volume of ChargePoint's securities would likely be negatively impacted. If analysts do cover ChargePoint and one or more of them downgrade its securities, or if they issue other unfavorable commentary about ChargePoint or its industry or inaccurate research, the trading price of ChargePoint's Common Stock and other securities would likely decline. Furthermore, if one or more of these analysts cease coverage or fail to regularly publish reports on ChargePoint, it could lose visibility in the financial markets. Any of the foregoing would likely cause the trading price and volume of ChargePoint's Common Stock and other securities to decline.

***Anti-takeover provisions contained in ChargePoint's governing documents and applicable laws could impair a takeover attempt.***

ChargePoint's Charter and Amended and Restated Bylaws (the "A&R Bylaws") afford certain rights and powers to the Board that could contribute to the delay or prevention of an acquisition that it deems undesirable. ChargePoint is also subject to Section 203 of the Delaware General Corporation Law and other provisions of Delaware law that limit the ability of stockholders in certain situations to effect certain mergers. Any of the foregoing provisions and terms that have the effect of delaying or deterring a change in control could limit the opportunity for stockholders to receive a premium for their shares of their Common Stock and could also affect the price that some investors are willing to pay for the Common Stock. ChargePoint's Charter provides, subject to limited exceptions, that the Court of Chancery of the State of Delaware will be the sole and exclusive forum for certain stockholder litigation matters, which could limit stockholders' ability to obtain a more favorable judicial forum for disputes with ChargePoint or its directors, officers, employees or stockholders.

The Charter requires, to the fullest extent permitted by law, that derivative actions brought on behalf of ChargePoint, actions against current or former directors, officers, stockholders or, subject to certain exceptions, employees for breach of fiduciary duty and certain other actions may be brought in the Court of Chancery in the State of Delaware or, if that court lacks subject matter jurisdiction, another federal or state court situated in the State of Delaware. Any person or entity purchasing or otherwise acquiring or holding any interest in shares of capital stock of ChargePoint shall be deemed to have notice of and consented to the forum provisions in the certificate of incorporation. In addition, the Charter and A&R Bylaws provide that, unless ChargePoint consents in writing to another forum, the federal district courts of the United States shall, to the fullest extent of the law, be the exclusive forum for the resolution of any complaint asserting a cause of action under the Securities Act of 1933, as amended, or the Exchange Act.

The choice of forum provision in ChargePoint's Charter may limit a stockholder's ability to bring a claim in a judicial forum that it finds favorable for disputes with ChargePoint or any of its directors, officers, other employees or stockholders, which may discourage lawsuits with respect to such claims. Alternatively, if a court were to find the choice of forum provision to be inapplicable or unenforceable in an action, ChargePoint may incur additional costs associated with resolving such action in other jurisdictions, which could harm its business, operating results and financial condition.

------

***Warrants are exercisable for ChargePoint's Common Stock, which would increase the number of shares eligible for future resale in the public market and result in dilution to ChargePoint's stockholders.***

As of April 30, 2026, warrants to purchase ChargePoint's Common Stock were exercisable for 3,395,961 shares of Common Stock. Any shares of ChargePoint's Common Stock issued upon exercise of warrants, including the 2025 Warrants, will result in dilution to the then existing holders of Common Stock and increase the number of shares eligible for resale in the public market. Sales of substantial numbers of such shares in the public market could adversely affect the market price of ChargePoint's Common Stock.

------

**ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**

**Recent Sales of Unregistered Securities**

**2025 Senior Loan Interest Shares**

During the quarter ended April 30, 2026, pursuant to the terms of the 2025 Credit Agreement, ChargePoint issued 1,199,942 shares of ChargePoint's Common Stock (the "Interest Shares") to the holders of the 2025 Senior Loan in lieu of paying cash interest. ChargePoint issued the Interest Shares in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act. ChargePoint received no proceeds in connection with the issuance of the Interest Shares. See Note 6, *Debt* in Part I, Item 1, "Financial Statements" of this Quarterly Report on Form 10-Q, for more information related to the Interest Shares.

**Issuer Purchases of Equity Securities**

None.

**ITEM 3. DEFAULTS UPON SENIOR SECURITIES**

Not applicable.

**ITEM 4. MINE SAFETY DISCLOSURES**

Not applicable.

**ITEM 5. OTHER INFORMATION**

(a)*None*

(b)*None*

(c)*Securities Trading Plans for Executive Officers and Directors*

During the three months ended April 30, 2026, none of ChargePoint's directors or executive officers adopted, modified or terminated a Rule 10b5-1 trading arrangement or adopted, modified or terminated a non-Rule 10b5-1 trading arrangement as defined in Item 408 of Regulation S-K.

------

**ITEM 6. EXHIBITS**

**(a)Exhibits:**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1+‡ | <u>[Offer Letter, dated July 10, 2025, between ChargePoint, Inc. and Eric Batill](chpt10q2027q1ex101.htm)</u> |
| 10.2+ | <u>[Amendment No. 1 to Credit and Security Agreement, dated April 23, 2026, by and among ChargePoint, Inc., ChargePoint Holdings, Inc., certain subsidiary guarantors, the lenders party thereto and Alter Domus (US) LLC.](chpt10q2027q1ex102.htm)</u> |
| 31.1+ | <u>[Certification of Chief Executive Officer required by Rule 13a-14(a) or Rule 15d-14(a)](chpt10q2027q1ex311.htm)</u> |
| 31.2+ | <u>[Certification of the Chief Financial Officer required by Rule 13a-14(a) or Rule 15d-14(a)](chpt10q2027q1ex312.htm)</u> |
| 32.1\*\* | <u>[Certification of Chief Executive Officer required by Rule 13a-14(b) or Rule 15d-14(b) and 18 U.S.C. 1350](chpt10q2027q1ex321.htm)</u> |
| 32.2\*\* | <u>[Certification of the Chief Financial Officer required by Rule 13a-14(b) or Rule 15d-14(b) and 18 U.S.C. 1350](chpt10q2027q1ex322.htm)</u> |
| 101.INS | Inline XBRL Instance Document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase |
| 104.0 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |

---

____________

+ Filed herewith.

\*\* Furnished herewith.

‡&nbsp;&nbsp;&nbsp;&nbsp;Denotes management compensatory plan, contract or arrangement.

^&nbsp;&nbsp;&nbsp;&nbsp;Certain schedules and exhibits to this Exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. A copy

of any omitted schedule or exhibit will be furnished to the U.S. Securities and Exchange Commission upon request.

------

**SIGNATURES**

Pursuant to the requirements of the Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| June 8, 2026 |  |  |
|  | CHARGEPOINT HOLDINGS, INC. | CHARGEPOINT HOLDINGS, INC. |
|  | By: | /s/ Mansi Khetani |
|  | Name: | Mansi Khetani |
|  | Title: | Chief Financial Officer  |
|  |  | (Principal Financial Officer) |

---

## Exhibit 10.1

**Exhibit 10.1**

![image_0.jpg](image_0.jpg)

July 10, 2025

**Eric Batill**

Dear Eric,

On behalf of ChargePoint, Inc. (the "Company"), I am pleased to offer you the full-time position of General Counsel and Corporate Secretary reporting directly to me. It is expected that you will be working out of our Campbell office, unless you are traveling on company business. As explained in more detail below, your employment is contingent upon your assent to the terms and conditions set forth in this letter. If, after careful review, the terms discussed below are acceptable to you, please sign this offer letter where indicated and return to us.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Compensation</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Salary</u>. You will be eligible to earn an initial annualized salary of $400,000 per year, paid on a semi-monthly basis, less applicable withholdings and deductions, in accordance with the Company's regular payroll processes and policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.<u>Bonus</u>. In addition, you will be eligible for participation in the Company's executive bonus program for each fiscal year, which runs from February 1 through January 31. Currently, the executive bonus program is based upon the Company's execution relative to our Annual Operating Plan and progress towards achievement of our annual corporate goals. Your initial target bonus will be equal to 60% of your annual base salary, with the bonus for the fiscal year in which your new role and salary begins prorated, based on the number of days you are employed by the Company in that capacity during that fiscal year. A significant purpose of the executive bonus program is employee retention. This means that in order to earn the bonus you must be employed by the Company at the time of payment of the bonus. The determinations of the Compensation and Organizational Development Committee (the "Compensation Committee") of the Board of Directors of our parent, ChargePoint Holdings, Inc. ("Parent Board") or its delegate with respect to you earning your bonus will be final and binding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.<u>Incentive Stock Plan</u>. We will recommend to the Compensation Committee that you be granted 1,200,000 restricted stock units (or RSUs), each representing the right to receive one share of our parent company's common stock, subject to the capitalization provisions set forth in our parent company's 2021 Equity Incentive Plan. For the avoidance of doubt, the share numbers referenced in this offer letter will be adjusted for the reverse stock split that is scheduled to be effective on July 28, 2025. The RSUs will be subject to vesting restrictions pursuant to the terms and conditions set forth in the applicable award agreement to be entered into between you and our parent company and our parent company's 2021 Equity Incentive Plan.

By execution of this letter, you acknowledge that any equity award is subject to approval by the Parent Board or Compensation Committee and is not guaranteed.

**1 \|** P a g e<br>

------

**Exhibit 10.1**

![image_0.jpg](image_0.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.<u>Severance</u>. You shall be eligible to receive severance and other benefits in the event of an involuntary termination of employment, either before or after a Change in Control, in accordance with and pursuant to the Company's Executive Severance Plan, as adopted by the Parent Board on February 29, 2024, as may be amended from time to time.

If you agree to the foregoing, please indicate your acceptance electronically by accepting this Offer Letter.

Sincerely,

/s/ Rick Wilmer

Rick Wilmer

President and Chief Executive Officer

Approved and Accepted:

/s/ Eric Batill

Eric Batill

cc: Employee File

**2 \|** P a g e<br>

## Exhibit 10.2

***Exhibit 10.2***

***Execution Version***

**AMENDMENT NO. 1 TO CREDIT AND SECURITY AGREEMENT**

This AMENDMENT NO. 1 TO CREDIT AND SECURITY AGREEMENT dated as of April 23, 2026 (this "**Amendment**") to the Credit and Security Agreement dated as of November 14, 2025 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the date hereof, the "**Credit Agreement**"; the Credit Agreement as amended by this Amendment, the "**Amended Credit Agreement**") is entered into by and among CHARGEPOINT, INC., a Delaware corporation (the "**Borrower**"), CHARGEPOINT HOLDINGS, INC., a Delaware corporation ("**Parent**"), the Guarantors party hereto, ALTER DOMUS (US) LLC, as administrative agent and collateral agent (in such capacities, together with its successors and permitted assigns, the "**Agent**") and the Lenders party hereto (constituting the Required Lenders under the Credit Agreement). Capitalized terms not otherwise defined in this Amendment have the meanings given to them in the Amended Credit Agreement.

WHEREAS, the parties hereto have agreed to make certain amendments to the Credit Agreement, as set forth in <u>Section 1</u> of this Amendment, in accordance with and subject to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of these premises and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto hereby agree as follows:

**SECTION 1.<u>Amendments to Credit Agreement.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The Credit Agreement is, effective as of the Amendment No. 1 Effective Date (as defined below) and subject to the satisfaction of the conditions precedent set forth in <u>Section 3</u> hereof, hereby amended to delete the stricken text (indicated textually in substantially the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in substantially the same manner as the following example: <u>double-underlined text</u>) as set forth in a conformed copy of the Credit Agreement attached as Annex A hereto.

**SECTION 2.<u>Reference to and Effect on the Loan Documents</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** On and after the Amendment No. 1 Effective Date, each reference in the Credit Agreement to "this Agreement", "hereunder", "hereof" or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to "the Credit Agreement", "thereunder", "thereof" or words of like import referring to the "Credit Agreement", shall mean and be a reference to the Amended Credit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)On and after the Amendment No. 1 Effective Date, the Credit Agreement, as specifically amended by this Amendment, and the other Loan Documents are, and shall continue to be, in full force and effect, and are hereby in all respects ratified and confirmed. For the avoidance of doubt, except as specifically amended by this Amendment, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.

------

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)From and after the Amendment No. 1 Effective Date, this Amendment shall be deemed a Loan Document for all purposes under the Amended Credit Agreement and the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)The parties hereto acknowledge and agree that the amendments to the Credit Agreement pursuant to this Amendment and all other Loan Documents amended and/or executed and delivered in connection herewith shall not constitute a novation of the Credit Agreement and the other Loan Documents as in effect prior to the Amendment No. 1 Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)The parties hereto acknowledge that this Amendment constitutes all notices or requests required under Section 14.15 of the Credit Agreement.

**SECTION 3.<u>Conditions of Effectiveness</u>**. The amendments to the Credit Agreement contained in <u>Section 1</u> hereof shall become effective as of the first date on which the following conditions shall have been satisfied or waived by the parties hereto (the "**Amendment No. 1 Effective Date**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Agent or its counsel and the Lenders shall have received counterparts (or written evidence reasonably satisfactory to the Agent (which may include a copy transmitted by facsimile or other electronic method) that such party has signed a counterpart) of this (i) Amendment executed by the Borrower, Parent, the Guarantors, the Agent and the Lenders constituting the Required Lenders and (ii) the Reaffirmation of Guaranty attached to this Amendment, executed by each of the Guarantors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Agent and the Lenders shall have received payment in full of all fees and expenses payable to it by Borrower or any other Person required pursuant to Section 5.4 of the Amended Credit Agreement.

For purposes of determining whether the conditions specified in this <u>Section 3</u> have been satisfied on the date hereof, by executing this Amendment, the Agent and each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to the Agent and the Lenders, as applicable.

**SECTION 4.<u>Execution in Counterparts; Effectiveness</u>**. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The parties hereto agree that "execution," "signed," "signature," and words of like import in this Amendment or any other Loan Document shall be deemed to include electronic signatures, authentication, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based record keeping system, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, the Electronic Signatures in Global and National Commerce Act, the Uniform Electronic Transactions Act as in effect in any state, the New York Electronic Signatures and Records Act

------

&nbsp;&nbsp;&nbsp;&nbsp;

(N.Y. State Tech. §§ 301-309), or the Uniform Commercial Code, and the parties hereto hereby waive any objection to the contrary.

**SECTION 5.<u>GOVERNING LAW</u>**. THIS AMENDMENT AND ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT OR SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. Section 14.8 of the Amended Credit Agreement is incorporated herein by reference, *mutatis mutandis*.

**SECTION 6.<u>WAIVER OF RIGHT OF TRIAL BY JURY</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE CREDIT PARTIES, THE AGENT AND THE LENDERS HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT, THE LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREUNDER. EACH CREDIT PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO SERVICE OF PROCESS BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, TO THE ADDRESS FOR NOTICE FOR BORROWER PURSUANT TO SECTION 14.7 OF THE AMENDED CREDIT AGREEMENT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;IN NO EVENT WILL THE CREDIT PARTIES, THE AGENT, OR THE LENDERS BE LIABLE FOR LOST PROFITS OR OTHER SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR RELATING TO THIS AMENDMENT OR ANY OF THE OTHER LOAN DOCUMENTS (EXCEPT AS IT RELATES TO THE INDEMNIFICATION PROVIDED BY THE CREDIT PARTIES IN SECTION 11.5 OF THE AMENDED CREDIT AGREEMENT).

**SECTION 7.<u>Required Lender Reaffirmation</u>**. As of the Amendment No. 1 Effective Date, for the avoidance of doubt, the Required Lenders hereby ratify, acknowledge and reaffirm approval of all extension requests by the Borrower as of the date hereof for purposes of satisfying the requirements of Sections 4.2 and 8.15(b) of the Credit Agreement and confirms acceptance and approval of each such request as of the date hereof.

[SIGNATURE PAGES FOLLOW]

------

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF**, the parties have caused this Amendment to be executed by their respective authorized officers as of the date first above written.

**BORROWER:**

**CHARGEPOINT, INC.,**

as Borrower<br>

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Rick Wilmer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Name: Rick Wilmer<br>Title: Chief Executive Officer

**PARENT AND GUARANTOR:**

**CHARGEPOINT HOLDINGS, INC.,**

as Parent and Guarantor<br>

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Rick Wilmer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Name: Rick Wilmer<br>Title: Chief Executive Officer

**GUARANTORS:**

**CHARGEPOINT ASSET MANAGEMENT, LLC,** as Guarantor<br>

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Rick Wilmer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Name: Rick Wilmer<br>Title: Chief Executive Officer

**CHARGEPOINT INTERNATIONAL HOLDINGS LLC,** as Guarantor<br>

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Rick Wilmer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Name: Rick Wilmer<br>Title: Chief Executive Officer

[Signature Page to Amendment No. 1 to Credit and Security Agreement]

------

&nbsp;&nbsp;&nbsp;&nbsp;

**CHARGEPOINT CANADA, INC.,** as Guarantor<br>

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Mansi Khetani&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Name: Mansi Khetani <br>Title: Director and Chief Financial Officer

**CHARGEPOINT NETWORK (UK) LTD,** as Guarantor<br>

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Mansi Khetani&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Name: Mansi Khetani<br>Title: Director

[Signature Page to Amendment No. 1 to Credit Agreement]

------

&nbsp;&nbsp;&nbsp;&nbsp;

**ALTER DOMUS (US) LLC**, as Agent

****

<br> By:<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>_____<u>/s/ Pinju Chiu</u>______________<br> Name: Pinju Chiu <br>Title: Associate Counsel

[Signature Page to Amendment No. 1 to Credit and Security Agreement]

------

Pinehurst Partners, L.P., as Lender

By: Corbin Capital Partners, L.P., its Investment Manager

By: <u>/s/ Daniel Friedman&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name: Daniel Friedman

Title: General Counsel

Corbin Opportunity Fund, L.P., as Lender

By: Corbin Capital Partners, L.P., its Investment Manager

By: <u>/s/Daniel Friedman&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name: Daniel Friedman

Title: General Counsel

Corbin ERISA Opportunity Fund, Ltd., as Lender

By: Corbin Capital Partners, L.P., its Investment Manager

By: <u>/s/ Daniel Friedman&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name: Daniel Friedman

Title: General Counsel

&nbsp;&nbsp;&nbsp;&nbsp;

[Signature Page to Amendment No. 1 to Credit and Security Agreement]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**Antara Capital Master Fund LP**, as Lender

By: <u>/s/ Himanshu Gulati&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name: Himanshu Gulati

Title: Managing Member of its General Partner

&nbsp;&nbsp;&nbsp;&nbsp;

[Signature Page to Amendment No. 1 to Credit and Security Agreement]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

Carilion Clinic, as Lender

By: <u>/s/ John H. Lapuasa&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name: John H. Lapuasa

Title: Assistant Treasurer, Carilion Clinic

[Signature Page to Amendment No.1 to Credit Agreement]

------

**REAFFIRMATION OF GUARANTY**

As of the Amendment No. 1 Effective Date, each Guarantor signatory hereto hereby ratifies, acknowledges and reaffirms each prior guaranty of payment or grant of a Lien on, or security interest or pledge in, its Collateral, in each case, made pursuant to Section 13 of the Credit Agreement, as amended by this Amendment, and confirms that such Guaranty, Liens and security interests remain in full force and effect and shall continue as such to guaranty and secure the Obligations after giving effect to this Amendment.

[SIGNATURE PAGES FOLLOW]

[Signature Page to Reaffirmation]

------

**PARENT AND GUARANTOR:**

**CHARGEPOINT HOLDINGS, INC.,**

as Parent and Guarantor<br>

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Rick Wilmer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Name: Rick Wilmer<br>Title: Chief Executive Officer

**GUARANTORS:**

**CHARGEPOINT ASSET MANAGEMENT, LLC,** as Guarantor

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Rick Wilmer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Name: Rick Wilmer<br>Title: Chief Executive Officer

**CHARGEPOINT INTERNATIONAL HOLDINGS LLC,** as Guarantor<br>

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Rick Wilmer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Name: Rick Wilmer<br>Title: Chief Executive Officer

**CHARGEPOINT CANADA, INC.,** as Guarantor<br>

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Mansi Khetani&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Name: Mansi Khetani <br>Title: Director and Chief Financial Officer

**CHARGEPOINT NETWORK (UK) LTD,** as Guarantor<br>

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Mansi Khetani&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Name: Mansi Khetani<br>Title: Director

[Signature Page to Reaffirmation]

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**Annex A**

**Amended Credit and Security Agreement**

[See Attached]

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***Execution Version<u>Annex A to</u>*** 

***<u>Amendment No. 1 to Credit and Security Agreement</u>***

THIS AGREEMENT AND THE INTEREST SHARES ISSUABLE THEREUNDER (THE "SECURITIES") MAY CONSTITUTE A SECURITY AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR THE SECURITIES LAWS OF ANY JURISDICTION. THE SECURITIES MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, ASSIGNED, ENCUMBERED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT (I) PURSUANT TO A REGISTRATION STATEMENT WITH RESPECT TO THE SECURITIES THAT IS EFFECTIVE UNDER THE ACT OR APPLICABLE STATE SECURITIES LAW, OR (II) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE ACT, OR APPLICABLE STATE SECURITIES LAW, INCLUDING PURSUANT TO RULE 144 OR RULE 144A; PROVIDED THAT, EXCEPT IN THE CASE OF ANY TRANSACTION EXEMPT FROM REGISTRATION REQUIREMENTS OF THE ACT PURSUANT TO RULE 144 OR RULE 144A, AN OPINION OF COUNSEL SHALL BE FURNISHED TO THE BORROWER (IF REQUESTED BY THE BORROWER), IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE BORROWER, TO THE EFFECT THAT SUCH TRANSACTION DOES NOT REQUIRE REGISTRATION UNDER THE ACT AND/OR APPLICABLE STATE SECURITIES LAW.

**CREDIT AND SECURITY AGREEMENT**

by and among

**ALTER DOMUS (US) LLC,**<br>as Agent

**THE FINANCIAL INSTITUTIONS FROM TIME TO TIME PARTY HERETO**,<br>as Lenders,

**CHARGEPOINT HOLDINGS, INC.,**<br>as Parent,<br>**CHARGEPOINT, INC.,**<br>as Borrower,

and

**THE OTHER CREDIT PARTIES FROM TIME TO TIME PARTY HERETO**

Dated as of November 14, 2025

<u>as amended by Amendment No. 1 to Credit and Security Agreement dated as of April 23, 2026</u> 

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***Execution Version<u>Annex A to</u>*** 

***<u>Amendment No. 1 to Credit and Security Agreement</u>***

**Table of Contents**

**Table of Contents**&nbsp;&nbsp;&nbsp;&nbsp;i

CREDIT AND SECURITY AGREEMENT&nbsp;&nbsp;&nbsp;&nbsp;1

SECTION 1. Definitions&nbsp;&nbsp;&nbsp;&nbsp;1

&nbsp;&nbsp;&nbsp;&nbsp;1.1.&nbsp;&nbsp;&nbsp;&nbsp;Defined Terms&nbsp;&nbsp;&nbsp;&nbsp;1

&nbsp;&nbsp;&nbsp;&nbsp;1.2.&nbsp;&nbsp;&nbsp;&nbsp;Terms Generally; Construction&nbsp;&nbsp;&nbsp;&nbsp;42

&nbsp;&nbsp;&nbsp;&nbsp;1.3.&nbsp;&nbsp;&nbsp;&nbsp;Accounting Terms; GAAP&nbsp;&nbsp;&nbsp;&nbsp;43

&nbsp;&nbsp;&nbsp;&nbsp;1.4.&nbsp;&nbsp;&nbsp;&nbsp;Timing of Payment or Performance&nbsp;&nbsp;&nbsp;&nbsp;44

&nbsp;&nbsp;&nbsp;&nbsp;1.5.&nbsp;&nbsp;&nbsp;&nbsp;Divisions&nbsp;&nbsp;&nbsp;&nbsp;44

SECTION 2. [Reserved]&nbsp;&nbsp;&nbsp;&nbsp;44

SECTION 3. Initial Term Loan&nbsp;&nbsp;&nbsp;&nbsp;44

&nbsp;&nbsp;&nbsp;&nbsp;3.1.&nbsp;&nbsp;&nbsp;&nbsp;Promissory Notes Evidencing Initial Term Loan&nbsp;&nbsp;&nbsp;&nbsp;44

&nbsp;&nbsp;&nbsp;&nbsp;3.2.&nbsp;&nbsp;&nbsp;&nbsp;Funding of Initial Term Loan&nbsp;&nbsp;&nbsp;&nbsp;44

&nbsp;&nbsp;&nbsp;&nbsp;3.3.&nbsp;&nbsp;&nbsp;&nbsp;Repayment and Prepayment of Initial Term Loans.&nbsp;&nbsp;&nbsp;&nbsp;44

SECTION 4. Conditions Precedent&nbsp;&nbsp;&nbsp;&nbsp;46

&nbsp;&nbsp;&nbsp;&nbsp;4.1.&nbsp;&nbsp;&nbsp;&nbsp;Conditions Precedent to Initial Funding&nbsp;&nbsp;&nbsp;&nbsp;46

&nbsp;&nbsp;&nbsp;&nbsp;4.2.&nbsp;&nbsp;&nbsp;&nbsp;Post-Closing Requirements&nbsp;&nbsp;&nbsp;&nbsp;48

SECTION 5. Interest, Fees and Expenses.&nbsp;&nbsp;&nbsp;&nbsp;48

&nbsp;&nbsp;&nbsp;&nbsp;5.1.&nbsp;&nbsp;&nbsp;&nbsp;Interest on Loans&nbsp;&nbsp;&nbsp;&nbsp;48

&nbsp;&nbsp;&nbsp;&nbsp;5.2.&nbsp;&nbsp;&nbsp;&nbsp;Default Interest Rate&nbsp;&nbsp;&nbsp;&nbsp;49

&nbsp;&nbsp;&nbsp;&nbsp;5.3.&nbsp;&nbsp;&nbsp;&nbsp;Computation of Interest and Related Fees&nbsp;&nbsp;&nbsp;&nbsp;49

&nbsp;&nbsp;&nbsp;&nbsp;5.4.&nbsp;&nbsp;&nbsp;&nbsp;Fees; Out-of-Pocket Expenses&nbsp;&nbsp;&nbsp;&nbsp;49

&nbsp;&nbsp;&nbsp;&nbsp;5.5.&nbsp;&nbsp;&nbsp;&nbsp;Capital Adequacy&nbsp;&nbsp;&nbsp;&nbsp;50

&nbsp;&nbsp;&nbsp;&nbsp;5.6.&nbsp;&nbsp;&nbsp;&nbsp;Taxes.&nbsp;&nbsp;&nbsp;&nbsp;51

&nbsp;&nbsp;&nbsp;&nbsp;5.7.&nbsp;&nbsp;&nbsp;&nbsp;Obligations Absolute&nbsp;&nbsp;&nbsp;&nbsp;54

&nbsp;&nbsp;&nbsp;&nbsp;5.8.&nbsp;&nbsp;&nbsp;&nbsp;Mitigation Obligations&nbsp;&nbsp;&nbsp;&nbsp;54

SECTION 6. Collateral&nbsp;&nbsp;&nbsp;&nbsp;54

&nbsp;&nbsp;&nbsp;&nbsp;6.1.&nbsp;&nbsp;&nbsp;&nbsp;Grant of Security Interests&nbsp;&nbsp;&nbsp;&nbsp;54

&nbsp;&nbsp;&nbsp;&nbsp;6.2.&nbsp;&nbsp;&nbsp;&nbsp;Extent of Security Interests&nbsp;&nbsp;&nbsp;&nbsp;56

&nbsp;&nbsp;&nbsp;&nbsp;6.3.&nbsp;&nbsp;&nbsp;&nbsp;Limited License&nbsp;&nbsp;&nbsp;&nbsp;56

&nbsp;&nbsp;&nbsp;&nbsp;6.4.&nbsp;&nbsp;&nbsp;&nbsp;Representations, Covenants and Agreements Regarding Collateral Generally.&nbsp;&nbsp;&nbsp;&nbsp;56

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&nbsp;&nbsp;&nbsp;&nbsp;6.5.&nbsp;&nbsp;&nbsp;&nbsp;Reference to Other Loan Documents&nbsp;&nbsp;&nbsp;&nbsp;58

&nbsp;&nbsp;&nbsp;&nbsp;6.6.&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].&nbsp;&nbsp;&nbsp;&nbsp;59

&nbsp;&nbsp;&nbsp;&nbsp;6.7.&nbsp;&nbsp;&nbsp;&nbsp;Power of Attorney&nbsp;&nbsp;&nbsp;&nbsp;59

&nbsp;&nbsp;&nbsp;&nbsp;6.8.&nbsp;&nbsp;&nbsp;&nbsp;Filing of UCC Financing Statements&nbsp;&nbsp;&nbsp;&nbsp;60

&nbsp;&nbsp;&nbsp;&nbsp;6.9.&nbsp;&nbsp;&nbsp;&nbsp;Duty of Agent&nbsp;&nbsp;&nbsp;&nbsp;60

&nbsp;&nbsp;&nbsp;&nbsp;6.10.&nbsp;&nbsp;&nbsp;&nbsp;Collections&nbsp;&nbsp;&nbsp;&nbsp;60

&nbsp;&nbsp;&nbsp;&nbsp;6.11.&nbsp;&nbsp;&nbsp;&nbsp;Collateral and Guaranty Releases&nbsp;&nbsp;&nbsp;&nbsp;60

&nbsp;&nbsp;&nbsp;&nbsp;6.12.&nbsp;&nbsp;&nbsp;&nbsp;. The Lenders irrevocably authorize Agent, and Agent shall:&nbsp;&nbsp;&nbsp;&nbsp;60

SECTION 7. Representations and Warranties&nbsp;&nbsp;&nbsp;&nbsp;61

&nbsp;&nbsp;&nbsp;&nbsp;7.1.&nbsp;&nbsp;&nbsp;&nbsp;Solvency&nbsp;&nbsp;&nbsp;&nbsp;61

&nbsp;&nbsp;&nbsp;&nbsp;7.2.&nbsp;&nbsp;&nbsp;&nbsp;Organization Matters&nbsp;&nbsp;&nbsp;&nbsp;61

&nbsp;&nbsp;&nbsp;&nbsp;7.3.&nbsp;&nbsp;&nbsp;&nbsp;Power and Authority; Conflicts; Enforceability.&nbsp;&nbsp;&nbsp;&nbsp;62

&nbsp;&nbsp;&nbsp;&nbsp;7.4.&nbsp;&nbsp;&nbsp;&nbsp;Financial Condition; No Material Adverse Change&nbsp;&nbsp;&nbsp;&nbsp;62

&nbsp;&nbsp;&nbsp;&nbsp;7.5.&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Laws; Permits; Anti-Terrorism Laws; Anti-Corruption Laws.&nbsp;&nbsp;&nbsp;&nbsp;63

&nbsp;&nbsp;&nbsp;&nbsp;7.6.&nbsp;&nbsp;&nbsp;&nbsp;Environmental Matters&nbsp;&nbsp;&nbsp;&nbsp;63

&nbsp;&nbsp;&nbsp;&nbsp;7.7.&nbsp;&nbsp;&nbsp;&nbsp;Pending Litigation&nbsp;&nbsp;&nbsp;&nbsp;64

&nbsp;&nbsp;&nbsp;&nbsp;7.8.&nbsp;&nbsp;&nbsp;&nbsp;Employee Benefits&nbsp;&nbsp;&nbsp;&nbsp;64

&nbsp;&nbsp;&nbsp;&nbsp;7.9.&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]&nbsp;&nbsp;&nbsp;&nbsp;64

&nbsp;&nbsp;&nbsp;&nbsp;7.10.&nbsp;&nbsp;&nbsp;&nbsp;Disclosure&nbsp;&nbsp;&nbsp;&nbsp;64

&nbsp;&nbsp;&nbsp;&nbsp;7.11.&nbsp;&nbsp;&nbsp;&nbsp;Security Interest&nbsp;&nbsp;&nbsp;&nbsp;64

&nbsp;&nbsp;&nbsp;&nbsp;7.12.&nbsp;&nbsp;&nbsp;&nbsp;Taxes&nbsp;&nbsp;&nbsp;&nbsp;64

&nbsp;&nbsp;&nbsp;&nbsp;7.13.&nbsp;&nbsp;&nbsp;&nbsp;Capitalization&nbsp;&nbsp;&nbsp;&nbsp;65

&nbsp;&nbsp;&nbsp;&nbsp;7.14.&nbsp;&nbsp;&nbsp;&nbsp;Margin Stock&nbsp;&nbsp;&nbsp;&nbsp;65

SECTION 8. Affirmative Covenants&nbsp;&nbsp;&nbsp;&nbsp;65

&nbsp;&nbsp;&nbsp;&nbsp;8.1.&nbsp;&nbsp;&nbsp;&nbsp;Maintenance of Financial Records; Inspections&nbsp;&nbsp;&nbsp;&nbsp;65

&nbsp;&nbsp;&nbsp;&nbsp;8.2.&nbsp;&nbsp;&nbsp;&nbsp;Further Assurances&nbsp;&nbsp;&nbsp;&nbsp;65

&nbsp;&nbsp;&nbsp;&nbsp;8.3.&nbsp;&nbsp;&nbsp;&nbsp;Insurance; Maintenance of Properties.&nbsp;&nbsp;&nbsp;&nbsp;66

&nbsp;&nbsp;&nbsp;&nbsp;8.4.&nbsp;&nbsp;&nbsp;&nbsp;Payment of Taxes&nbsp;&nbsp;&nbsp;&nbsp;66

&nbsp;&nbsp;&nbsp;&nbsp;8.5.&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]&nbsp;&nbsp;&nbsp;&nbsp;66

&nbsp;&nbsp;&nbsp;&nbsp;8.6.&nbsp;&nbsp;&nbsp;&nbsp;Notices Concerning Employee Benefit and Pension Matters&nbsp;&nbsp;&nbsp;&nbsp;66

&nbsp;&nbsp;&nbsp;&nbsp;8.7.&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Laws&nbsp;&nbsp;&nbsp;&nbsp;67

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&nbsp;&nbsp;&nbsp;&nbsp;8.8.&nbsp;&nbsp;&nbsp;&nbsp;Financial Reporting&nbsp;&nbsp;&nbsp;&nbsp;67

&nbsp;&nbsp;&nbsp;&nbsp;8.9.&nbsp;&nbsp;&nbsp;&nbsp;Material Adverse Developments&nbsp;&nbsp;&nbsp;&nbsp;69

&nbsp;&nbsp;&nbsp;&nbsp;8.10.&nbsp;&nbsp;&nbsp;&nbsp;Existence; Business Qualification&nbsp;&nbsp;&nbsp;&nbsp;69

&nbsp;&nbsp;&nbsp;&nbsp;8.11.&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].&nbsp;&nbsp;&nbsp;&nbsp;69

&nbsp;&nbsp;&nbsp;&nbsp;8.12.&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds&nbsp;&nbsp;&nbsp;&nbsp;69

&nbsp;&nbsp;&nbsp;&nbsp;8.13.&nbsp;&nbsp;&nbsp;&nbsp;Fundamental Changes&nbsp;&nbsp;&nbsp;&nbsp;69

&nbsp;&nbsp;&nbsp;&nbsp;8.14.&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]&nbsp;&nbsp;&nbsp;&nbsp;69

&nbsp;&nbsp;&nbsp;&nbsp;8.15.&nbsp;&nbsp;&nbsp;&nbsp;Joinder of New Credit Parties&nbsp;&nbsp;&nbsp;&nbsp;69

&nbsp;&nbsp;&nbsp;&nbsp;8.16.&nbsp;&nbsp;&nbsp;&nbsp;Protection of Intellectual Property&nbsp;&nbsp;&nbsp;&nbsp;70

SECTION 9. Financial Covenant&nbsp;&nbsp;&nbsp;&nbsp;71

&nbsp;&nbsp;&nbsp;&nbsp;9.1.&nbsp;&nbsp;&nbsp;&nbsp;Minimum Liquidity&nbsp;&nbsp;&nbsp;&nbsp;71

&nbsp;&nbsp;&nbsp;&nbsp;9.2.&nbsp;&nbsp;&nbsp;&nbsp;Equity Cure&nbsp;&nbsp;&nbsp;&nbsp;71

SECTION 10. Negative Covenants&nbsp;&nbsp;&nbsp;&nbsp;72

&nbsp;&nbsp;&nbsp;&nbsp;10.1.&nbsp;&nbsp;&nbsp;&nbsp;Liens and Encumbrances&nbsp;&nbsp;&nbsp;&nbsp;72

&nbsp;&nbsp;&nbsp;&nbsp;10.2.&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness&nbsp;&nbsp;&nbsp;&nbsp;72

&nbsp;&nbsp;&nbsp;&nbsp;10.3.&nbsp;&nbsp;&nbsp;&nbsp;Sale of Assets&nbsp;&nbsp;&nbsp;&nbsp;72

&nbsp;&nbsp;&nbsp;&nbsp;10.4.&nbsp;&nbsp;&nbsp;&nbsp;Corporate Change&nbsp;&nbsp;&nbsp;&nbsp;72

&nbsp;&nbsp;&nbsp;&nbsp;10.5.&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]&nbsp;&nbsp;&nbsp;&nbsp;73

&nbsp;&nbsp;&nbsp;&nbsp;10.6.&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments&nbsp;&nbsp;&nbsp;&nbsp;73

&nbsp;&nbsp;&nbsp;&nbsp;10.7.&nbsp;&nbsp;&nbsp;&nbsp;Investments&nbsp;&nbsp;&nbsp;&nbsp;75

&nbsp;&nbsp;&nbsp;&nbsp;10.8.&nbsp;&nbsp;&nbsp;&nbsp;Related Party Transactions&nbsp;&nbsp;&nbsp;&nbsp;76

&nbsp;&nbsp;&nbsp;&nbsp;10.9.&nbsp;&nbsp;&nbsp;&nbsp;Business Conducted&nbsp;&nbsp;&nbsp;&nbsp;76

&nbsp;&nbsp;&nbsp;&nbsp;10.10.&nbsp;&nbsp;&nbsp;&nbsp;Prohibited Uses of Proceeds&nbsp;&nbsp;&nbsp;&nbsp;76

&nbsp;&nbsp;&nbsp;&nbsp;10.11.&nbsp;&nbsp;&nbsp;&nbsp;Inconsistent Agreements&nbsp;&nbsp;&nbsp;&nbsp;76

SECTION 11. Events of Default, Remedies and Indemnitees&nbsp;&nbsp;&nbsp;&nbsp;77

&nbsp;&nbsp;&nbsp;&nbsp;11.1.&nbsp;&nbsp;&nbsp;&nbsp;Events of Default&nbsp;&nbsp;&nbsp;&nbsp;77

&nbsp;&nbsp;&nbsp;&nbsp;11.2.&nbsp;&nbsp;&nbsp;&nbsp;Remedies with Respect to Outstanding Loans&nbsp;&nbsp;&nbsp;&nbsp;78

&nbsp;&nbsp;&nbsp;&nbsp;11.3.&nbsp;&nbsp;&nbsp;&nbsp;Remedies with Respect to Collateral&nbsp;&nbsp;&nbsp;&nbsp;79

&nbsp;&nbsp;&nbsp;&nbsp;11.4.&nbsp;&nbsp;&nbsp;&nbsp;Application of Proceeds&nbsp;&nbsp;&nbsp;&nbsp;79

&nbsp;&nbsp;&nbsp;&nbsp;11.5.&nbsp;&nbsp;&nbsp;&nbsp;General Indemnity.&nbsp;&nbsp;&nbsp;&nbsp;80

&nbsp;&nbsp;&nbsp;&nbsp;11.6.&nbsp;&nbsp;&nbsp;&nbsp;Authority&nbsp;&nbsp;&nbsp;&nbsp;80

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SECTION 12. Agency&nbsp;&nbsp;&nbsp;&nbsp;81

&nbsp;&nbsp;&nbsp;&nbsp;12.1.&nbsp;&nbsp;&nbsp;&nbsp;Appointment of Agent; Powers&nbsp;&nbsp;&nbsp;&nbsp;81

&nbsp;&nbsp;&nbsp;&nbsp;12.2.&nbsp;&nbsp;&nbsp;&nbsp;Delegation of Agent's Duties&nbsp;&nbsp;&nbsp;&nbsp;81

&nbsp;&nbsp;&nbsp;&nbsp;12.3.&nbsp;&nbsp;&nbsp;&nbsp;Disclaimer of Agent's Liabilities&nbsp;&nbsp;&nbsp;&nbsp;81

&nbsp;&nbsp;&nbsp;&nbsp;12.4.&nbsp;&nbsp;&nbsp;&nbsp;Reliance and Action by Agent&nbsp;&nbsp;&nbsp;&nbsp;82

&nbsp;&nbsp;&nbsp;&nbsp;12.5.&nbsp;&nbsp;&nbsp;&nbsp;Events of Default&nbsp;&nbsp;&nbsp;&nbsp;82

&nbsp;&nbsp;&nbsp;&nbsp;12.6.&nbsp;&nbsp;&nbsp;&nbsp;Lenders' Due Diligence&nbsp;&nbsp;&nbsp;&nbsp;83

&nbsp;&nbsp;&nbsp;&nbsp;12.7.&nbsp;&nbsp;&nbsp;&nbsp;Right to Indemnification&nbsp;&nbsp;&nbsp;&nbsp;83

&nbsp;&nbsp;&nbsp;&nbsp;12.8.&nbsp;&nbsp;&nbsp;&nbsp;Other Transactions&nbsp;&nbsp;&nbsp;&nbsp;84

&nbsp;&nbsp;&nbsp;&nbsp;12.9.&nbsp;&nbsp;&nbsp;&nbsp;Resignation of Agent&nbsp;&nbsp;&nbsp;&nbsp;84

&nbsp;&nbsp;&nbsp;&nbsp;12.10.&nbsp;&nbsp;&nbsp;&nbsp;Copies of Financial Information&nbsp;&nbsp;&nbsp;&nbsp;84

&nbsp;&nbsp;&nbsp;&nbsp;12.11.&nbsp;&nbsp;&nbsp;&nbsp;Payments of Principal, Interest and Fees&nbsp;&nbsp;&nbsp;&nbsp;84

&nbsp;&nbsp;&nbsp;&nbsp;12.12.&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]&nbsp;&nbsp;&nbsp;&nbsp;84

&nbsp;&nbsp;&nbsp;&nbsp;12.13.&nbsp;&nbsp;&nbsp;&nbsp;Agent May File Proofs of Claim&nbsp;&nbsp;&nbsp;&nbsp;84

&nbsp;&nbsp;&nbsp;&nbsp;12.14.&nbsp;&nbsp;&nbsp;&nbsp;Recovery of Erroneous Payments.&nbsp;&nbsp;&nbsp;&nbsp;85

&nbsp;&nbsp;&nbsp;&nbsp;12.15.&nbsp;&nbsp;&nbsp;&nbsp;Certain ERISA Matters.&nbsp;&nbsp;&nbsp;&nbsp;86

&nbsp;&nbsp;&nbsp;&nbsp;12.16.&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].&nbsp;&nbsp;&nbsp;&nbsp;87

&nbsp;&nbsp;&nbsp;&nbsp;12.17.&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].&nbsp;&nbsp;&nbsp;&nbsp;87

&nbsp;&nbsp;&nbsp;&nbsp;12.18.&nbsp;&nbsp;&nbsp;&nbsp;Survival.&nbsp;&nbsp;&nbsp;&nbsp;87

SECTION 13. Guaranty&nbsp;&nbsp;&nbsp;&nbsp;87

&nbsp;&nbsp;&nbsp;&nbsp;13.1.&nbsp;&nbsp;&nbsp;&nbsp;The Guaranty&nbsp;&nbsp;&nbsp;&nbsp;87

&nbsp;&nbsp;&nbsp;&nbsp;13.2.&nbsp;&nbsp;&nbsp;&nbsp;Obligations Unconditional&nbsp;&nbsp;&nbsp;&nbsp;88

&nbsp;&nbsp;&nbsp;&nbsp;13.3.&nbsp;&nbsp;&nbsp;&nbsp;Reinstatement&nbsp;&nbsp;&nbsp;&nbsp;89

&nbsp;&nbsp;&nbsp;&nbsp;13.4.&nbsp;&nbsp;&nbsp;&nbsp;Waivers&nbsp;&nbsp;&nbsp;&nbsp;89

&nbsp;&nbsp;&nbsp;&nbsp;13.5.&nbsp;&nbsp;&nbsp;&nbsp;Remedies&nbsp;&nbsp;&nbsp;&nbsp;89

&nbsp;&nbsp;&nbsp;&nbsp;13.6.&nbsp;&nbsp;&nbsp;&nbsp;Contribution by Guarantors&nbsp;&nbsp;&nbsp;&nbsp;90

&nbsp;&nbsp;&nbsp;&nbsp;13.7.&nbsp;&nbsp;&nbsp;&nbsp;Guarantee of Payment; Continuing Guarantee&nbsp;&nbsp;&nbsp;&nbsp;90

&nbsp;&nbsp;&nbsp;&nbsp;13.8.&nbsp;&nbsp;&nbsp;&nbsp;Subordination of Other Obligations&nbsp;&nbsp;&nbsp;&nbsp;90

SECTION 14. Miscellaneous&nbsp;&nbsp;&nbsp;&nbsp;91

&nbsp;&nbsp;&nbsp;&nbsp;14.1.&nbsp;&nbsp;&nbsp;&nbsp;Termination&nbsp;&nbsp;&nbsp;&nbsp;91

&nbsp;&nbsp;&nbsp;&nbsp;14.2.&nbsp;&nbsp;&nbsp;&nbsp;Waivers&nbsp;&nbsp;&nbsp;&nbsp;91

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&nbsp;&nbsp;&nbsp;&nbsp;14.3.&nbsp;&nbsp;&nbsp;&nbsp;Entire Agreement; Control&nbsp;&nbsp;&nbsp;&nbsp;91

&nbsp;&nbsp;&nbsp;&nbsp;14.4.&nbsp;&nbsp;&nbsp;&nbsp;Usury Limit&nbsp;&nbsp;&nbsp;&nbsp;91

&nbsp;&nbsp;&nbsp;&nbsp;14.5.&nbsp;&nbsp;&nbsp;&nbsp;Severability&nbsp;&nbsp;&nbsp;&nbsp;92

&nbsp;&nbsp;&nbsp;&nbsp;14.6.&nbsp;&nbsp;&nbsp;&nbsp;WAIVER OF JURY TRIAL; SERVICE OF PROCESS; CONSEQUENTIAL DAMAGES.&nbsp;&nbsp;&nbsp;&nbsp;92

&nbsp;&nbsp;&nbsp;&nbsp;14.7.&nbsp;&nbsp;&nbsp;&nbsp;Notices&nbsp;&nbsp;&nbsp;&nbsp;92

&nbsp;&nbsp;&nbsp;&nbsp;14.8.&nbsp;&nbsp;&nbsp;&nbsp;CHOICE OF LAW; VENUE&nbsp;&nbsp;&nbsp;&nbsp;93

&nbsp;&nbsp;&nbsp;&nbsp;14.9.&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]&nbsp;&nbsp;&nbsp;&nbsp;94

&nbsp;&nbsp;&nbsp;&nbsp;14.10.&nbsp;&nbsp;&nbsp;&nbsp;Counterparts; Effectiveness of Electronic Documents and Signatures&nbsp;&nbsp;&nbsp;&nbsp;94

&nbsp;&nbsp;&nbsp;&nbsp;14.11.&nbsp;&nbsp;&nbsp;&nbsp;Assignments; Participations.&nbsp;&nbsp;&nbsp;&nbsp;94

&nbsp;&nbsp;&nbsp;&nbsp;14.12.&nbsp;&nbsp;&nbsp;&nbsp;Sharing of Liabilities&nbsp;&nbsp;&nbsp;&nbsp;97

&nbsp;&nbsp;&nbsp;&nbsp;14.13.&nbsp;&nbsp;&nbsp;&nbsp;Exercise of Setoff Rights&nbsp;&nbsp;&nbsp;&nbsp;97

&nbsp;&nbsp;&nbsp;&nbsp;14.14.&nbsp;&nbsp;&nbsp;&nbsp;Confidentiality&nbsp;&nbsp;&nbsp;&nbsp;97

&nbsp;&nbsp;&nbsp;&nbsp;14.15.&nbsp;&nbsp;&nbsp;&nbsp;Amendments; Agent's Discretionary Rights&nbsp;&nbsp;&nbsp;&nbsp;98

SECTION 15. Securities Laws&nbsp;&nbsp;&nbsp;&nbsp;99

&nbsp;&nbsp;&nbsp;&nbsp;15.1.&nbsp;&nbsp;&nbsp;&nbsp;Interest Shares&nbsp;&nbsp;&nbsp;&nbsp;99

&nbsp;&nbsp;&nbsp;&nbsp;15.2.&nbsp;&nbsp;&nbsp;&nbsp;Legends&nbsp;&nbsp;&nbsp;&nbsp;100

&nbsp;&nbsp;&nbsp;&nbsp;15.3.&nbsp;&nbsp;&nbsp;&nbsp;No Hedging&nbsp;&nbsp;&nbsp;&nbsp;100

**<u>EXHIBITS</u>**

Exhibit A&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Form of Assignment and Transfer Agreement

Exhibit B&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]

Exhibit C&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]

Exhibit D&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Form of Initial Term Loan Promissory Note

Exhibit E&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Form of Compliance Certificate

Exhibit F&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Form of Joinder to Credit and Security Agreement

Exhibit G&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]

Exhibit H&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Form of Solvency Certificate

Exhibit I&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Form of Reconciliation Report

**<u>SCHEDULES</u>**

Commitment Schedule

Schedule 1.1(a)&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Immaterial Subsidiaries

Schedule 4.2&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Post-Closing Obligations

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Schedule 7.2&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Organizational Information

Schedule 7.7&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Litigation

Schedule 7.8&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Employee Benefits

Schedule 7.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Capitalization

Schedule 10.1&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Liens

Schedule 10.2&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness

Schedule 10.7&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Investments

Schedule 10.8&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Related Party Transactions

Schedule 10.11&nbsp;&nbsp;&nbsp;&nbsp;—&nbsp;&nbsp;&nbsp;&nbsp;Inconsistent Agreements&nbsp;&nbsp;&nbsp;&nbsp;

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***Execution Version<u>Annex A to</u>*** 

***<u>Amendment No. 1 to Credit and Security Agreement</u>***

**CREDIT AND SECURITY AGREEMENT**

**THIS CREDIT AND SECURITY AGREEMENT** (as the same may be amended, restated, modified or otherwise supplemented from time to time, this "**<u>Agreement</u>**") is dated as of November 14, 2025 by and among **CHARGEPOINT, INC.**, a Delaware corporation ("**<u>Borrower</u>**"), **CHARGEPOINT HOLDINGS, INC.,** a Delaware corporation, ("**<u>Parent</u>**"), each other Person now or hereafter party hereto as a Guarantor, the LENDERS now or hereafter party hereto (collectively "**<u>Lenders</u>**" and each a "**<u>Lender</u>**") and **ALTER DOMUS (US) LLC**, as administrative agent and collateral agent for Lenders.

**RECITALS:**

WHEREAS, on the Closing Date, pursuant to the Exchange Agreement, dated as of November 14, 2025 (together with all exhibits and schedules and other attachments thereto, collectively, as may be amended, restated, amended and restated, supplemented or otherwise modified in accordance with the terms thereof, the "**<u>Exchange Agreement</u>**"), made by and among Borrower and the Exchanging Creditors (as defined therein), the Exchanging Creditors and Borrower shall consummate the Exchange (as defined therein).

WHEREAS, on the Closing Date, the Lenders shall extend credit (or be deemed to have extended credit) to Borrower in the form of Initial Term Loans in an aggregate principal amount equal to the Initial Term Loan Commitment (as defined herein) to fund the Transactions and related transaction fees and expenses;

NOW, THEREFORE, the Lenders are willing to extend such credit to Borrower on the terms and subject to the conditions set forth herein. Accordingly, in consideration of the mutual covenants and agreements set forth herein and in the other Loan Documents, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

**SECTION 1.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Definitions</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Defined Terms</u>**. As used in this Agreement:

"**<u>Accounts</u>**" means collectively (a) all accounts and any right to payment of a monetary obligation, whether or not earned by performance, (b) without duplication, any "account" (as defined in the UCC), any accounts receivable (whether in the form of payments for services rendered or goods sold, rents, license fees or otherwise), any payment intangibles and all other rights to payment and/or reimbursement of every kind and description, whether or not earned by performance, (c) all accounts, General Intangibles, Intellectual Property, rights, remedies, guarantees, supporting obligations, letter-of-credit rights and security interests in respect of the foregoing, all rights of enforcement and collection, all books and records evidencing or related to the foregoing, and all rights under the Loan Documents in respect of the foregoing, (d) all information and data compiled or derived by any Credit Party or to which any Credit Party is entitled in respect of or related to the foregoing, and (e) all proceeds of any of the foregoing.

"**<u>Acquisition</u>**" means the acquisition by any Person, in a single transaction or in a series of related transactions, of all or substantially all of the Property of another Person, or of a division or other business segment, line or unit of another Person, or at least a majority of the voting Equity Interests of another

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Person, in each case whether or not involving a merger or consolidation with such other Person and whether for cash, property, services, assumption of Indebtedness, securities or otherwise.

"**<u>Affiliate</u>**" means, with respect to a specified Person, (a) another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified and (b) with respect to any Lender, any entity administered or managed by such Lender or an Affiliate or investment advisor thereof which is engaged in making, purchasing, holding or otherwise investing in commercial loans. Notwithstanding the foregoing, none of Agent, any Lender nor Eaton shall be deemed to be an Affiliate of Parent or any Subsidiary or any Affiliate thereof.

"**<u>Agent</u>**" means Alter Domus (US) LLC or any of its affiliates, in its capacity as administrative agent and collateral agent for itself and for the Lenders hereunder, as such capacity is established in, and subject to the provisions of, <u>Section 12</u>, and the successors of Alter Domus (US) LLC in such capacity.

"**<u>Agent Fee Letter</u>**" means that certain fee letter dated as of the date hereof, by and between Borrower and Alter Domus (US) LLC, as amended, amended and restated, supplemented or otherwise modified from time to time.

"**<u>Agreement</u>**" has the meaning set forth in the introductory paragraph hereto.

<u>"</u>**<u>Amendment No. 1</u>**<u>" means that certain Amendment No. 1 to Credit Agreement dated as of April 23, 2026 (the "</u>**<u>Amendment No. 1 Effective Date</u>**<u>"), by and among the Borrower, the Parent, the Guarantors party thereto, the Agent and the Lenders party thereto (constituting the Required Lenders under this Agreement).</u>

<u>"</u>**<u>Amendment No. 1 Effective Date</u>**<u>" has the meaning set forth in the definition of "Amendment No.1".</u>

"**<u>Anti-Terrorism Laws</u>**" means any Laws relating to terrorism or money laundering, including the Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA Patriot Act of 2001), the Laws comprising or implementing the Bank Secrecy Act, and any Laws administered by OFAC, as amended.

"**<u>Applicable Rate</u>**" means a rate equal to twelve percent (12.00%) per annum.

"**<u>Approved Foreign Jurisdiction</u>**" means Austria, Canada, England and Wales, Germany, the Netherlands and any other jurisdiction as Borrower and the Required Lenders may reasonably agree pursuant to <u>Section 8.15(b)</u>.

"**<u>Approved Fund</u>**" means any Person (other than a natural person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender, or (c) a Person (other than a natural person) or an Affiliate of a Person (other than a natural person) that administers or manages a Lender.

"**<u>Assignment and Transfer Agreement</u>**" means the Assignment and Transfer Agreement in the form of <u>Exhibit A</u> attached hereto or any other form approved by the Agent.

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"**<u>Authorized Person</u>**" means the Chief Executive Officer, Chief Financial Officer, controller, or other officer of the applicable Credit Party, or any other Person designated by any such Credit Party in writing to Agent from time to time as an "Authorized Person" of such Credit Party.

"**<u>Bankruptcy Code</u>**" means Title 11 of the United States Code entitled "Bankruptcy".

"**<u>Beneficial Ownership Certification</u>**" means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation, in form and substance substantially the same as the form of Certification Regarding Beneficial Owners of Legal Entity Customers published jointly, in May 2018, by the Loan Syndications and Trading Association and Securities Industry and Financial Markets Association.

"**<u>Beneficial Ownership Regulation</u>**" means 31 C.F.R. § 1010.230.

"**<u>Blocked Person</u>**" means any Person: (a) listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224; (b) owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224; (c) with which any Lender is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law; (d) that commits, threatens or conspires to commit or supports "terrorism" as defined in Executive Order No. 13224; (e) that is named a "specially designated national" or "blocked person" on the most current list published by OFAC or other similar list or is named as a "listed person" or "listed entity" on other lists made under any Anti-Terrorism Law; (f) is either the subject or target of any Sanctions; or (g) is located, organized or resident in a country or territory that is, or whose government is, the subject of Sanctions, including, without limitation, at the time of this Agreement, the so - called Donetsk People's Republic, the so- called Luhansk People's Republic, the Crimea Region of Ukraine, Cuba, Iran, North Korea and Syria.

**"<u>Bona Fide Debt Fund</u>"** means any bona fide financial institution, debt fund or investment vehicle that is engaged in the business of making, purchasing, holding or otherwise investing in loans, notes, bonds and similar extensions of credit or securities in the ordinary course of business to unaffiliated third parties.

"**<u>Borrower</u>**" has the meaning set forth in the introductory paragraph hereto.

"**<u>Business Day</u>**" means any day except a Saturday, Sunday or other day banking institutions in the State of New York is authorized or required by Law or executive order to close.

"**<u>Capital Lease</u>**" means any lease of Property which, in conformity with GAAP, is required to be capitalized.

"**<u>Cash Equivalents</u>**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America (or by any agency or instrumentality thereof), in each case maturing within one year from the date of acquisition thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;investments in commercial paper maturing within one (1) year from the date of acquisition thereof and (i) issued by any Lender or bank holding company owning any Lender or (ii) rated at least "A-2" or the equivalent thereof by S&P or at least "P-2" or the equivalent thereof by Moody's, respectively (in each case, at the time of acquisition);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;investments in certificates of deposit, floating rate certificates of deposit, bankers' acceptances and time deposits (including eurodollar deposits) maturing within one (1) year from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by (i) any domestic office of any commercial bank organized under the laws of the United States of America or any State thereof which has a combined capital and surplus and undivided profits of not less than $100 million; or (ii) any Lender or bank holding company owning any Lender (in each case, at the time of acquisition);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;fully collateralized repurchase agreements with a term of not more than 30 days for securities described in <u>clause (a)</u> above and entered into with a financial institution satisfying the criteria described in <u>clause (c)</u> above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;money market funds that (i) comply with the criteria set forth in SEC Rule 2a-7 under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody's and (iii) have portfolio assets of at least $5 billion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;securities with maturities of one year or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States, or by any political subdivision or taxing authority thereof or by any foreign government, and rated at least "A" by S&P or "A" by Moody's (in each case, at the time of acquisition);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;securities with maturities of six months or less from the date of acquisition backed by standby letters of credit issued by any Lender or any commercial bank satisfying the requirements of clause (c) above (in each case, at the time of acquisition);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;corporate notes issued by domestic corporations that are rated at least "A" by S&P or "A" by Moody's, in each case maturing within one year from the date of acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;auction rate securities including taxable municipals, taxable auction notes, and money market preferred; <u>provided</u> that the credit quality is consistent with clause (g) of this definition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;marketable direct obligations issued by any state of the United States or any political subdivision of any such state or any public instrumentality thereof maturing within one (1) year from the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either S&P or Moody's;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;short term investments similar to the foregoing made by Foreign Subsidiaries of Parent consistent with Parent's or Borrower's, as applicable, investment guidelines or as approved from time to time by Parent's or Borrower's, as applicable, board of directors or governing body;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;money market mutual funds that invest primarily in the foregoing items (determined at the time such investment in such fund is made);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;such other comparable investments as may be approved by Agent from time to time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) &nbsp;&nbsp;&nbsp;&nbsp;digital assets, cryptocurrencies, stablecoins or other blockchain-based or tokenized assets that (i) are readily convertible to cash or Cash Equivalents, (ii) are held with, or through, custodians or exchanges of recognized standing, and (iii) are not prohibited to be held under applicable Law; <u>provided</u> that the aggregate Cash Equivalents under this clause (n) shall not exceed 20.0% of the total amount of Cash Equivalents of the Credit Parties in aggregate.

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"**<u>Casualty Proceeds</u>**" means (a) payments or other proceeds from an insurance carrier with respect to any loss, casualty or damage to Collateral, and (b) payments received on account of any condemnation or other governmental taking of any of the Collateral; <u>provided</u>, <u>however</u>, Casualty Proceeds shall not include payments or other proceeds received by Parent or any Subsidiary in the Ordinary Course of Business in connection with claims under stop-loss insurance policies held by Parent or any Subsidiary.

"**<u>CERCLA</u>**" means the Comprehensive Environmental Response, Compensation and Liability Act of 1980.

"**<u>Change in Law</u>**" means the occurrence, subsequent to the Closing Date, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty; (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Government Authority; or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Government Authority; <u>provided</u> that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a "Change in Law", regardless of the date enacted, adopted or issued.

"**<u>Change of Control</u>**" means either: (a) the acquisition or ownership, directly or indirectly, beneficially or of record, by any Person or "group" (within the meaning of Rule 13d-3 and Rule 13d-5 under the Exchange Act as in effect on the Closing Date, but excluding any employee benefit plan, any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan and any underwriters or their Affiliates in connection with an initial public offering) of Equity Interests in Parent representing more than 50.0% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests in Parent; or (b) Parent or any permitted successor thereto shall at any time cease to own directly 100.0% of the Equity Interests of Borrower.

"**<u>Closing Date</u>**" means the date of this Agreement.

"**<u>Code</u>**" means the Internal Revenue Code of 1986.

"**<u>Collateral</u>**" means all of the "Collateral" as defined in <u>Section 6.1</u>, and all of the other property that is or is intended under the terms of any Loan Document to be subject to Liens in favor of Agent for the benefit of Agent and Lenders.

"**<u>Commercial Tort Claim</u>**" means a "commercial tort claim" as defined in Article 9 of the UCC.

"**<u>Commitments</u>**" means the collective reference to, and "**<u>Commitment</u>**" means, as to each Lender, the amount of the commitment for such Lender set forth opposite the name of such Lender on the Commitment Schedule to this Agreement or in the Assignment and Transfer Agreement to which such Lender is a party, as such amount may be reduced or increased in accordance with the provisions of <u>Section 14.11(a)</u> or any other applicable provision of this Agreement.

"**<u>Common Stock</u>**" means Parent's Common Stock, par value $0.0001 per share.

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**"<u>Competitors</u>**" means those Persons who are direct competitors of Borrower or any Subsidiary if, at the time of a proposed assignment, Agent and the assigning Lender have actual knowledge (which knowledge can be obtained by a written notification by Borrower) that such Person is a direct competitor of Borrower or any Subsidiary; <u>provided</u>, that in connection with any assignment or participation, the assignee or participant with respect to such proposed assignment or participation that is an investment bank, a commercial bank, a finance company, a fund, or other Person which merely has an economic interest in or is an Affiliate of any such direct competitor, and is not itself such a direct competitor of Borrower or any Subsidiary, shall not be deemed to be a Competitor for the purposes of this definition. For the avoidance of doubt, with respect to any assignee or Participant that becomes a Competitor after the applicable assignment, such assignee or Participant shall not retroactively be disqualified from becoming a Lender or Participant.

"**<u>Compliance Certificate</u>**" means a certificate substantially in the form of <u>Exhibit E</u>.

"**<u>Connection Income Taxes</u>**" means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

"**<u>Contingent Liability</u>**" means any of, and "**<u>Contingent Liabilities</u>**" means the collective reference to, those agreements, undertakings or arrangements by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to or otherwise to invest in a debtor, or otherwise to assure a creditor against loss) any indebtedness, obligation or other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Contingent Liability shall (subject to any limitation set forth herein) be deemed to be the outstanding principal amount (or maximum permitted principal amount, if larger) of the indebtedness, obligation or other liability guaranteed or supported thereby.

"**<u>Control</u>**" means the possession, directly or indirectly, of (a) the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise or (b) the power to vote 10% or more of the Equity Interests of such Person (on a fully diluted basis) having ordinary voting power for the election of directors or managers. "**<u>Controlled</u>**" has the correlative meaning.

"**<u>Copyrights</u>**" means all of the Credit Parties' present and hereafter acquired copyrights, copyright registrations, recordings, applications, designs, styles, licenses, marks, prints and labels bearing any of the foregoing, all reissues and renewals thereof, all licenses thereof, all other general intangibles, intellectual property and other rights pertaining to any of the foregoing, together with the goodwill associated therewith, and all income, royalties and other Proceeds of any of the foregoing.

"**<u>Credit Facility</u>**" means the aggregate commitment of Lenders in an amount equal to $186,500,000 to make the Initial Term Loan pursuant to <u>Section 3</u> of this Agreement.

"**<u>Credit Parties</u>**" means the collective reference to, and "**<u>Credit Party</u>**" means each of, Borrower, Guarantors and any other Person who becomes party to this Agreement as a Borrower or Guarantor pursuant to a Joinder or otherwise, and their respective successors and permitted assigns. For the avoidance of doubt, no Excluded Subsidiary shall be required to become a Credit Party.

"**<u>Debtor Relief Laws</u>**" means the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency,

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reorganization, or similar debtor relief Laws of the United States, any state thereof or other applicable jurisdictions from time to time in effect.

"**<u>Default</u>**" means any event, fact, circumstance or condition that, with the giving of applicable notice or passage of time or both, would constitute or be or result in an Event of Default.

"**<u>Default Rate of Interest</u>**" means a rate of interest equal to two percent (2.00%) per annum greater than the Applicable Rate, which Agent and Lenders shall be entitled to charge Borrower in the manner set forth in <u>Section 5.2</u>.

"**<u>Defaulting Lender</u>**" means any Lender that (a) has failed to make any Loan or other credit accommodation, disbursement, settlement or reimbursement required pursuant to the terms of any Loan Document on the date such amounts were required to be funded hereunder unless such Lender notifies Agent and Borrower that such failure is the result of such Lender's good faith determination that one or more conditions precedent to funding (each of which conditions precedent together with any applicable default, shall be specifically identified in such writing) has not been satisfied, (b) has notified Agent, any Lender or Borrower in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect unless such Lender notifies Agent and Borrower that such failure is the result of such Lender's good faith determination that one or more conditions precedent to funding (each of which conditions precedent together with any applicable default, shall be specifically identified in such writing) has not been satisfied, (c) has failed, within two (2) Business Days after written request by Agent, to confirm in writing to Agent that it will comply with its prospective funding obligations hereunder unless such Lender notifies Agent and Borrower that such failure is the result of such Lender's good faith determination that one or more conditions precedent to funding (each of which conditions precedent together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (d) has, or has a direct or indirect parent company that has, (i) become the subject of any insolvency proceeding under the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws) or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity. Any determination by Agent (or Required Lenders, if Agent is a Defaulting Lender) that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and of the effective date of such status, shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender as of the date established therefor by Agent (or Required Lenders, if applicable) in a written notice of such determination, which shall be delivered by Agent to Borrower and each Lender promptly following such determination. If Agent (or Required Lenders, if Agent is the Defaulting Lender) agrees in writing that a Lender is no longer a Defaulting Lender, Agent (or Required Lenders, if applicable) will so notify Borrower and each Lender, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, that each Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as Agent (or Required Lenders, if applicable) may determine to be necessary to cause the Loans to be held on a pro rata basis by Lenders in accordance with their applicable Pro Rata Percentages, whereupon such Lender will cease to be a Defaulting Lender; <u>provided</u> that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of Borrower while that Lender was a Defaulting Lender; <u>provided</u>, <u>further</u>, that except to the extent otherwise expressly agreed to by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender's having been a Defaulting Lender.

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"**<u>Deposit Account</u>**" means a "deposit account" (as defined in Article 9 of the UCC), investment account or other account in which funds are held or invested for credit to or for the benefit of any Credit Party.

"**<u>Derivative Obligations</u>**" means every obligation of a Person under any forward contract, futures contract, exchange contract, swap, option or other financing agreement or arrangement (including caps, floors, collars and similar agreement), the value of which is dependent upon interest rates, currency exchange rates, commodities or other indices.

"**<u>Disposition</u>**" means the sale, transfer, license, lease or other disposition of any property or right by Parent or any Subsidiary (including any Equity Interests owned by Parent or such Subsidiary), but excluding all Involuntary Dispositions.

"**<u>Disqualified Equity Interest</u>**" means any Equity Interest which, by its terms (or by the terms of any security or other Equity Interest into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (i) matures or is mandatorily redeemable (other than solely for Equity Interests that are not otherwise Disqualified Equity Interests), pursuant to a sinking fund obligation or otherwise, (ii) is redeemable at the option of the holder thereof (other than solely for Equity Interests that are not otherwise Disqualified Equity Interests), in whole or in part, (iii) provides for the scheduled payments of dividends or any other distribution in cash, or (iv) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interest that would constitute Disqualified Equity Interests, in each case, prior to the date that is 91 days after the latest applicable Maturity Date as in effect on the date of the issuance of such Equity Interest, except, in the case of clauses (i) and (ii), if as a result of an initial public offering, a change of control or an asset sale, so long as any rights of the holders thereof upon the occurrence of such initial public offering, change of control or asset sale event are subject to the prior Payment in Full of the Obligations.

**"<u>Disqualified Institution</u>"** means (a) those Persons identified as a "Disqualified Institution" on a list delivered to Agent by Borrower on or prior to the Closing Date (as such list may be updated from time to time after the Closing Date with Required Lender's consent (such consent not to be unreasonably withheld, conditioned or delayed) and delivered to Agent), (b) any Competitor, (c) any Person that is clearly identifiable, solely on the basis of such Person's name, as an Affiliate of any Person referred to in clauses (a) and (b) above (other than, solely with respect to this clause (c), any Bona Fide Debt Fund) and (d) any Person reasonably characterized as a distressed debt fund, special situations funds or vulture fund (as reasonably determined by Borrower). For the avoidance of doubt, with respect to any assignee or Participant that becomes a Disqualified Institution after the applicable assignment (including as a result of the delivery of a written supplement to the list of "Disqualified Institutions"), such assignee or Participant shall not retroactively be disqualified from becoming a Lender or Participant. "<u>Disqualified Institutions</u>" shall exclude any Person that Borrower has designated as no longer being a "Disqualified Institution" by written notice delivered to Agent from time to time.

"**<u>Dividing Person</u>**" has the meaning assigned to it in the definition of "Division".

"**<u>Division</u>**" means the division of the assets, liabilities and/or obligations of a Person (the "**<u>Dividing Person</u>**") among two or more Persons (whether pursuant to a "plan of division" or similar arrangement), which may or may not include the Dividing Person and pursuant to which the Dividing Person may or may not survive.

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"**<u>Documents of Title</u>**" means all present and future Documents and any and all warehouse receipts, bills of lading, shipping documents, chattel paper, instruments and similar documents, all whether negotiable or non-negotiable, together with all Inventory and other Goods relating thereto, and all Proceeds of any of the foregoing.

"**<u>Dollars</u>**", "**<u>dollars</u>**" or **<u>$</u>** refers to lawful money of the United States of America.

"**<u>Domestic Credit Party</u>**" means Parent, Borrower and any Domestic Subsidiary that is or becomes a Guarantor pursuant to <u>Section 8.15</u>.

"**<u>Domestic Subsidiary</u>**" means any Subsidiary that is organized under the laws of any political subdivision of the United States, excluding (x) any such Subsidiary substantially all of the assets of which consist of Equity Interests in one or more Subsidiaries that are "controlled foreign corporations" within the meaning of Section 957 of the Code and (y) any such Subsidiary that is owned (directly or indirectly, in whole or in part) by one or more Subsidiaries that are "controlled foreign corporations" within the meaning of Section 957 of the Code.

"**<u>Early Maturity Date</u>**" means a date prior to the Maturity Date on which Borrower or Agent (at the written direction of the Required Lenders) or Required Lenders, as the case may be, terminate this Agreement in accordance with <u>Section 11.2</u> or <u>14.1</u>.

"**<u>Eaton</u>**" means, collectively, Eaton Corporation plc, a public limited company organized under the laws of Ireland, and its Affiliates.

"**<u>Eligible Assignee</u>**" means (a) a Lender, (b) an Affiliate of a Lender, (c) an Approved Fund, and (d) any other Person (other than a natural person) approved in writing (which may include email) by Agent and Borrower (such consent not to be unreasonably withheld); <u>provided</u> that notwithstanding the foregoing, (x) "Eligible Assignee" shall not include any Credit Party or any of a Credit Party's Affiliates and (y) so long as no Event of Default under <u>Section 11.1(h)</u> has occurred and is continuing, no Disqualified Institution (including any Competitor) shall be an Eligible Assignee; <u>provided</u> <u>further</u> that, Borrower shall have the right to withhold its consent to any assignment if, in order for such assignment to comply with applicable Law, Borrower would be required to obtain the consent of, or make any filing or registration with, any governmental authority; <u>provided</u> <u>further</u> that, notwithstanding anything to the contrary in this Agreement, no Lender shall be permitted to assign all or a portion of its right and obligations under this Agreement (including all or a portion of the Term Loans at the time owing to it) to any Person that is not a "qualified institutional buyer" (as defined in Rule 144A under the Securities Act) or an institutional "accredited investor" as that term is defined in Rule 501(a) under Regulation D promulgated pursuant to the Securities Act.

"**<u>Employee Benefit Plan</u>**" means an "employee benefit plan" within the meaning of Section 3(3) of ERISA which any Credit Party establishes for the benefit of its employees or for which any Credit Party has liability to make a contribution, including by reason of being an ERISA Affiliate, other than a Multiemployer Plan.

"**<u>Environmental Laws</u>**" means any federal, state and local laws, statutes, ordinances, rules, regulations, standards, policies and other governmental directives or requirements, as well as common law, pertaining to the environment, natural resources, pollution, health (including any environmental clean-up statutes and all regulations adopted by any local, state, federal or other Government Authority, and any statute, ordinance, code, order, decree, law, rule or regulation all of which pertain to or impose liability or standards of conduct concerning medical waste or medical products, equipment or supplies),

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safety or cleanup that apply to any Credit Party and relate to Hazardous Materials, including CERCLA, the Resource Conservation and Recovery Act of 1976 (42 U.S.C. § 6901 *et seq.*), the Federal Water Pollution Control Act (33 U.S.C. § 1251 *et seq.*), the Hazardous Materials Transportation Act (49 U.S.C. § 5101 *et seq.*), the Clean Air Act (42 U.S.C. § 7401 *et seq.*), the Federal Insecticide, Fungicide and Rodenticide Act (7 U.S.C. § 136 *et seq.*), the Emergency Planning and Community Right-to-Know Act (42 U.S.C. § 11001 *et seq.*), the Occupational Safety and Health Act (29 U.S.C. § 651 *et seq.*), the Residential Lead-Based Paint Hazard Reduction Act (42 U.S.C. § 4851 *et seq.*), any analogous state or local laws, any amendments thereto, and the regulations promulgated pursuant to said laws, together with all amendments from time to time to any of the foregoing and judicial interpretations thereof.

"**<u>Equipment</u>**" means all of the Credit Parties' present and hereafter acquired equipment (as defined in the UCC) including all machinery, equipment, rolling stock, furnishings and fixtures, leasehold improvements, and all additions, substitutions and replacements thereof, wherever located, together with all attachments, components, parts, equipment and accessories installed thereon or affixed thereto and all Proceeds of any of the foregoing.

"**<u>Equity Interests</u>**" means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such Equity Interest; <u>provided</u> that Equity Interests shall not include any debt securities that are convertible into or exchangeable for any combination of Equity Interests and/or cash.

"**<u>ERISA</u>**" means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the rules and regulations promulgated thereunder from time to time.

"**<u>ERISA Affiliate</u>**" means any corporation or any trade or business (whether or not incorporated) that together with Parent, Borrower or any Subsidiary is or would be at any relevant time treated as a single employer within the meaning of 414(b), (c), (m) or (o) Code or otherwise aggregated with the Parent, Borrower or a Subsidiary under Section 414(b), (c), (m) or (o) of the Code or Section 4001 of ERISA.

"**<u>ERISA Event</u>**" means any one or more of the following: (a) any reportable event, as defined in Section 4043 of ERISA, with respect to a Pension Plan, as to which the PBGC has not waived under subsection .22, .23, .25, .26, .27, .28, .29, .30, .31, .32, .34 or .35 of PBGC Regulation Section 4043 the requirement of Section 4043(a) of ERISA that it be notified of such event; (b) the termination of any Pension Plan under Section 4041(c) of ERISA or the filing under Section 4041 of ERISA of a notice of intent to terminate a Pension Plan; (c) the institution of proceedings by the PBGC under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (d) the failure to make a required contribution to any Pension Plan that would result in the imposition of a lien or other encumbrance or the provision of security under Section 430 of the Code or Section 303 or 4068 of ERISA, or the arising of such a lien or encumbrance; (e) the failure to satisfy the minimum funding standard under Section 412 of the Code or Section 302 of ERISA, whether or not waived, or the application for a minimum funding waiver with respect to a Pension Plan under such sections; or a determination that any Pension Plan is considered an at-risk plan within the meaning of Section 430 of the Code or Section 303 of ERISA; (f) engaging in a non-exempt prohibited transaction within the meaning of Section 4975 of the Code or Section 406 of ERISA with respect to a Plan; (g) the complete or partial withdrawal of Parent, Borrower, Subsidiary or any ERISA Affiliate from a Multiemployer Plan, written notification to Parent, Borrower or any ERISA Affiliate concerning the imposition of Withdrawal Liability or the insolvency under Title IV of ERISA of any Multiemployer Plan, or the institution of

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proceedings by the PBGC to terminate any Multiemployer Plan or (h) a determination that any Multiemployer Plan is in endangered or critical status under Section 431 or Section 432 of the Code or Section 304 or 305 of ERISA, (i) a withdrawal by Parent, Borrower, any Subsidiary, or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA), a cessation of contributions to any Pension Plan subject to Section 4064(a) of ERISA or a cessation of operations that is treated as a termination under Section 4062(e) of ERISA or (j) the treatment of a Pension Plan or Multiemployer Plan amendment as a termination under Sections 4041 or 4041A of ERISA.

"**<u>Erroneous Payment</u>**" has the meaning given to such term in <u>Section 12.14(a)</u>.

"**<u>Event of Default</u>**" has the meaning given to such term in <u>Section 11.1</u>.

"**<u>Exchange Act</u>**" means the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

"**<u>Exchange Agreement</u>**" has the meaning set forth in the recitals hereto.

"**<u>Excluded Accounts</u>**" means Deposit Accounts of the Credit Parties (a) exclusively used for payroll, payroll taxes, healthcare, workers' compensation, deferred compensation, and other employee wage and benefit payments to or for any Credit Party's employees to the extent such amounts in such accounts are not in excess of amounts permitted hereunder, (b) tax accounts, including, without limitation, sales tax accounts, (c) trust or fiduciary accounts, (d) escrow, defeasance and redemption accounts, (e) zero balance accounts, (f) cash collateral accounts encumbered by Liens pursuant to <u>clause (n)(ii)</u> or <u>clause (t)</u> of the definition of "Permitted Encumbrances", and (g) the average balance of which over any ten (10) Business Day period does not exceed (i) in any individual account, $500,000 or (ii) in aggregate for all such Deposit Accounts excluded pursuant to this clause (g), $1,500,000.

"**<u>Excluded Assets</u>**" means any (a) rights or interest in any contract, lease, Permit, license, or license agreement if under the terms of such contract, lease, Permit, license, or license agreement, or applicable Law with respect thereto, the grant of a security interest or Lien therein is prohibited as a matter of law or under the terms of such contract, lease, Permit, license, or license agreement and such prohibition or restriction has not been waived or the requisite consent in respect of such contract, lease, Permit, license, or license agreement has not been obtained or the grant of a security interest or Lien therein would, under the terms of such contract, lease, Permit, license, or license agreement, result in the termination of or give rise to a right of termination (<u>provided</u>, that, (i) the foregoing exclusions shall in no way be construed (1) to apply to the extent that such prohibition or restriction is unenforceable after giving effect to the applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code (or applicable local law equivalent)), or (2) to apply to the extent that any consent or waiver has been obtained that would permit Agent's security interest or Lien notwithstanding the prohibition or restriction on the pledge of such contract, lease, Permit, license, or license agreement and (ii) the foregoing exclusions shall in no way be construed to limit, impair, or otherwise affect any of Agent's continuing security interests in and Liens upon any rights or interests of any Credit Party in or to (A) monies due or to become due under or in connection with any described contract, lease, Permit, license or license agreement (including any Accounts), or (B) any proceeds from the Disposition of any such contract, lease, Permit, license or license agreement; (b) any United States intent-to-use trademark applications for which a verified statement of use or an amendment to allege use has not been filed with and accepted by the United States Patent and Trademark Office; <u>provided</u>, that, upon submission to, and acceptance by, the United States Patent and Trademark Office of an amendment to allege use pursuant to 15 U.S.C.

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Section 1060(a) (or any successor provision), such intent-to-use trademark application shall be considered Collateral; (c) leasehold or subleasehold interests in real property; (d) any fee owned real property other than Material Real Property; (e) Excluded Accounts; (f) Excluded Securities; (g) any goods or assets sold pursuant to a Qualified Receivables Factoring or Qualified Receivables Financing or other factoring or receivables arrangement permitted hereunder; (h) motor vehicles and other assets subject to certificates of title; (i) Commercial Tort Claims in an amount not exceeding $2,000,000 individually; (j) assets to the extent a security interest in such assets could reasonably be expected to result in adverse tax consequences to Parent or any of its Subsidiaries (as determined in good faith by Borrower); (k) property the grant of a security interest thereon to secure the Obligations is (i) prohibited by applicable law, rule or regulation (in each case, except to the extent such prohibition is unenforceable after giving effect to the applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code (or applicable local law equivalent)) or (ii) which requires governmental consent, approval, license or authorization to be pledged (unless such consent, approval, license or authorization has been received and Borrower shall be under no obligation to seek such consent); (l) any governmental licenses or state or local franchises, charters and authorizations, to the extent security interests in such licenses, franchises, charters or authorizations are prohibited or restricted thereby or require the consent of any Governmental Authority (to the extent such consent has not been obtained; <u>provided</u> that Borrower shall be under no obligation to seek such consent) after giving effect to the applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code (or applicable local law equivalent); (m) letter-of-credit rights in an amount less than $2,000,000 individually, except to the extent constituting a supporting obligation for other Collateral as to which perfection of the security interest in such other Collateral may be accomplished by the filing of a UCC financing statement; (n) cash to secure letter of credit reimbursement obligations to the extent such letters of credit are permitted by this Agreement; (o) any lease, license or other agreement or any goods or other property subject to a purchase money security interest, Capital Lease obligation or similar arrangement in each case not prohibited by this Agreement, to the extent that a grant of a security interest therein would violate or invalidate such lease, license, capital lease or agreement or purchase money arrangement or create a right of termination in favor of any other party thereto (other than a Credit Party), in each case, except to the extent such prohibition is unenforceable after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code of any applicable jurisdiction or any other applicable law or principles of equity, other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the Uniform Commercial Code of any applicable jurisdiction or any other applicable law or principles of equity notwithstanding such prohibition; (p) other than with respect to any Foreign Guarantor or any Foreign Guarantor FSHCO, any goods, chattel paper, investment property, documents of title, instruments, money, intangibles or other assets of (including Equity Interests held by) (i) any Subsidiary that is a "controlled foreign corporation" within the meaning of Section 957 of the Code or any direct or indirect Subsidiary thereof (in each case, other than any Foreign Guarantor), (ii) any FSHCO or any direct or indirect Subsidiary of a FSHCO, (iii) any not-for-profit Subsidiary, (iv) any captive insurance Subsidiary, (v) any special purpose securitization vehicle (or similar entity), including any Receivables Subsidiary or (vi) any Immaterial Subsidiary that is not a Guarantor and (q) other property to the extent the Required Lenders and Borrower reasonably agree that the costs or other consequences (including any tax cost) of obtaining or perfecting a security interest in such property is excessive to the value afforded thereby; <u>provided</u>, that, Excluded Assets shall not include any Proceeds, substitutions or replacements of any Excluded Assets referred to in <u>clauses (a)</u> through <u>(q)</u> above (unless such Proceeds, substitutions or replacements would independently constitute Excluded Assets referred to in <u>clauses (a)</u> through <u>(q)</u> above).

"**<u>Excluded Securities</u>**" means (a) any Equity Interests or Indebtedness to the extent and for so long as the pledge thereof would be prohibited by any applicable law after giving effect to the applicable anti-assignment provisions of Article 9 of the Uniform Commercial Code (or applicable local law

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equivalent), (b) any Equity Interests in any Person that is not a wholly-owned Subsidiary to the extent that the grant of a security interest therein to secure the Obligations is prohibited by the constitutive documents of such Person, such Person's joint venture agreement or any other agreement or arrangement permitted by <u>Section 10.11</u>, (c) any Equity Interests in (i) any not-for-profit Subsidiary, (ii) any captive insurance Subsidiary, (iii) any special purpose securitization vehicle (or similar entity), including any Receivables Subsidiary, (iv) any Immaterial Subsidiary that is not a Credit Party, and (v) any Person which is acquired after the Closing Date to the extent and for so long as such Equity Interests are pledged in respect of assumed Indebtedness and such pledge constitutes a Permitted Lien; <u>provided</u> that such pledge is not created in contemplation of or in connection with such permitted acquisition or such Person becoming a Subsidiary, (d) any Margin Stock, (e) any Equity Interests in ChargePoint Technologies India Pvt. Ltd., (f) (i) subject to <u>clause (p)</u> of the definition of "Excluded Assets", any Equity Interests in excess of 65.0% of the issued and outstanding Equity Interests of any first-tier Foreign Subsidiary (or any Subsidiary that is a "controlled foreign corporation" within the meaning of Section 957 of the Code) or of any first-tier FSHCO (other than any Foreign Guarantor or any Foreign Guarantor FSHCO), (ii) any Equity Interests of any non first-tier Subsidiary that is a "controlled foreign corporation" within the meaning of Section 957 of the Code or any non first-tier FSHCO (other than any Foreign Guarantor or any Foreign Guarantor FSHCO) and (iii) any Equity Interests of any Subsidiary not directly owned by a Credit Party and (g) any Equity Interests in any Person as to which the Required Lenders and Borrower reasonably agree that the costs or other consequence (including any adverse tax consequence) of obtaining a pledge thereof are excessive in relation to the value to be afforded thereby.

"**<u>Excluded Subsidiary</u>**" means: (i) any Subsidiary that is not organized under the Laws of the United States or any political subdivision of the United States (but excluding any territory or possession thereof) or an Approved Foreign Jurisdiction, (ii) any non-wholly-owned Subsidiary, (iii) any Subsidiary that is prohibited or restricted by applicable Law, rule or regulation or by any contractual obligation existing on the Closing Date (or, if later, the date it becomes a Subsidiary) from guaranteeing the Guaranteed Obligations or which would require governmental (including regulatory) consent, approval, license or authorization to provide a guarantee unless such consent, approval, license or authorization has been received (it being understood that there shall be no obligation to obtain such consent, approval, license or authorization), and with respect to contractual obligations, so long as in each case such contractual restrictions (including any requirement to obtain the consent of any governmental authority or third party) have not been entered into in contemplation of such Person becoming a Subsidiary, (iv) any not-for-profit Subsidiary, (v) any captive insurance Subsidiary, (vi) any Immaterial Subsidiary, (vii) any special purpose securitization vehicle (or similar entity), including any Receivables Subsidiary, (viii) any Subsidiary acquired pursuant to a permitted Investment financed with Indebtedness permitted to be assumed pursuant to the Loan Documents and any Subsidiary thereof that guarantees such Indebtedness, in each case to the extent such Indebtedness prohibits such Subsidiary from becoming a Guarantor, <u>provided</u> that such Indebtedness is not created in contemplation of or in connection with such permitted Investment or such Person becoming a Subsidiary, and (ix) any Subsidiary with respect to which Borrower and the Required Lenders reasonably agree that the cost (including any adverse tax consequence), burden, difficulty or consequence of providing a guarantee of the Guaranteed Obligations is excessive in relation to the value afforded thereby; <u>provided</u> that in no event shall any Subsidiary that owns Material Intellectual Property be an Excluded Subsidiary.

"**<u>Excluded Taxes</u>**" means, with respect to any Recipient: (a) Taxes imposed on or measured by the Recipient's net income (however denominated), franchise Taxes and branch profits Taxes, in each case, (i) imposed by the jurisdiction (or political subdivision) under the Laws of which such Recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, or (ii) that are Other Connection Taxes; (b) in the case of a Lender, United States

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federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan pursuant to a law in effect on the date on which such Lender acquires such interest in the Loan or designates a new lending office (other than pursuant to a request by Borrower under <u>Section 5.8</u>), except to the extent that, pursuant to <u>Section 5.6</u>, amounts with respect to such Taxes were payable either to such Lender's assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office; (c) Taxes attributable to such Recipient's failure to comply with <u>Section 5.6(f)</u>; and (d) any withholding Taxes imposed under FATCA.

"**<u>Extendable Bridge Loans/Interim Debt</u>**" means customary "bridge" loans, escrow or similar arrangements which by their terms will be automatically converted into loans or other Indebtedness that have, or extended such that they have (a) a maturity date later than the Maturity Date and (b) a Weighted Average Life to Maturity not shorter than the remaining Weighted Average Life to Maturity of the Initial Term Loans.

"**<u>Executive Order No. 13224</u>**" means Executive Order No. 13224 issued on September 23, 2001.

"**<u>Existing Convertible Notes</u>**" means (a) Parent's 7.00% / 8.50% Convertible Senior PIK Toggle Notes due 2028, issued pursuant to that certain Indenture dated as of April 12, 2022, as amended and supplemented by that certain First Supplemental Indenture dated as of October 24, 2023, among, *inter alios*, Parent and Wilmington Trust, National Association, as trustee (the "**<u>Indenture</u>**") and (b) any additional notes issued as "payment-in-kind" in respect of the notes described in the preceding clause (a) pursuant to the Indenture.

"**<u>Factoring Transaction</u>**" means any transaction or series of transactions that may be entered into by Parent or any Subsidiary to which Parent or such Subsidiary may sell, convey, assign or otherwise transfer Receivables Assets (which may include a backup or precautionary grant of security interest in such Receivables Assets so sold, conveyed, assigned or otherwise transferred or purported to be so sold, conveyed, assigned or otherwise transferred) to any Person that is not a Subsidiary; <u>provided</u> that any such person that is a Subsidiary meets the qualifications in <u>clauses (1)</u> through <u>(3)</u> of the definition of "Receivables Subsidiary".

"**<u>FATCA</u>**" means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention of the United States implementing such Sections of the Code.

"**<u>FCPA</u>**" has the meaning set forth in <u>Section 7.5(d)</u>.

"**<u>Federal Funds Rate</u>**" means, for any day, the rate of interest per annum (rounded upwards, if necessary, to the nearest whole multiple of 1/100 of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day, <u>provided</u>, <u>however</u>, that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day, and (b) if no such rate is so published on such next preceding Business Day, the Federal Funds Rate for such day shall be the average rate charged to major banks selected by the Agent on such day on such transactions as determined by Agent.

"**<u>Floor VWAP Price</u>**" means a price per share equal to $10.0943.

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"**<u>Foreign Guarantor</u>**" means any Guarantor organized, formed or incorporated (or any analogous term) under the laws of any Approved Foreign Jurisdiction that becomes a Guarantor hereto in accordance with <u>Section 8.15</u>.

"**<u>Foreign Subsidiary</u>**" means each Subsidiary of Parent that is organized under the laws of a jurisdiction other than the United States (or any State thereof).

"**<u>FSHCO</u>**" means any direct or indirect Domestic Subsidiary, substantially all of the assets of which consist (directly or indirectly through disregarded entities or partnerships) of (i) Equity Interests (including, for this purpose, any debt or other instrument treated as equity for U.S. federal income tax purposes (as determined by Borrower)) or (ii) Equity Interests (including, for this purpose, any debt or other instrument treated as equity for U.S. federal income tax purposes (as determined by Borrower)) and indebtedness, in either case of <u>clauses (i)</u> and <u>(ii)</u>, in one or more "controlled foreign corporations" within the meaning of Section 957 of the Code and/or one or more other FSHCOs. If substantially all of the Equity Interests (including for this purpose, any debt or other instrument treated as equity for U.S. federal income tax purposes (as determined by Borrower)) owned by a FSHCO consists of Equity Interests in one or more Foreign Guarantors or one or more Subsidiaries of a Foreign Guarantor, such FSHCO, a "**<u>Foreign Guarantor FSHCO</u>**".

"**<u>Funded Indebtedness</u>**" means, as to any Person at a particular time, without duplication, all of the following Indebtedness:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all Indebtedness for borrowed money, whether current or long-term (including the Obligations and any Subordinated Debt) and all Indebtedness of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all purchase money Indebtedness, whether or not such Indebtedness shall have been assumed by such Person or is limited in recourse (but if recourse for such Indebtedness is limited to such Property subject to a Lien, then such indebtedness shall constitute Indebtedness only to the extent of the lesser of (x) the amount of such Indebtedness secured by such Lien or (y) the fair market value of such Property subject to such Lien);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the principal portion of all Indebtedness under conditional sale or other title retention agreements relating to Property purchased by such Person (other than customary reservations or retentions of title under agreements with suppliers entered into in the Ordinary Course of Business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the maximum amount available to be drawn under letters of credit (including standby and commercial), bankers' acceptances, bank guaranties, surety bonds and similar instruments to the extent not cash collateralized;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;all Indebtedness in respect of the deferred purchase price of Property or services to the extent required to be included as a liability on the balance sheet of such Person at such time in accordance with GAAP (other than current trade payables incurred in the ordinary course of such Person's business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the obligations under Capital Leases;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;[reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;all such Indebtedness of the kind referred to in <u>clauses (a)</u> through <u>(g)</u> and <u>(i)</u> through <u>(k)</u> of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on, or payable out of the proceeds of production from, Property owned or acquired by such Person, whether or not the obligations secured thereby have been assumed

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(other than Liens granted on Equity Interests of any Excluded Subsidiary to secure obligations of such Excluded Subsidiary and its Subsidiaries);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any deferred purchase price obligations for Acquisitions, including performance based incentive bonuses, earn-outs and similar deferred obligations (other than seller notes), whether structured as compensation obligations or otherwise, to the extent such obligation is (or required to be) listed as a liability on the balance sheet of such Person in accordance with GAAP and has not been paid within five (5) Business Days after becoming due and payable and is not disputed in good faith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;seller notes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;all guarantees with respect to Indebtedness of the types specified in clauses (a) through (i) above of another Person.

"**<u>GAAP</u>**" means (a) with respect to any Person organized under the laws of the United States, generally accepted accounting principles in the United States of America as in effect from time to time and for the period as to which such accounting principles are to apply, as consistently applied and (b) with respect to any other Person, generally accepted accounting principles, standards and practices in its jurisdiction of incorporation (as applied from time to time for the management accounts).

"**<u>General Intangibles</u>**" means all of the Credit Parties' present and hereafter acquired general intangibles (as defined in the UCC), and shall include all of the Credit Parties' present and future right, title and interest in and to all: (a) Trademarks, (b) Patents, utility models, industrial models, and designs, (c) Copyrights, (d) trade secrets, (e) Permits and franchises, (f) other forms of intellectual property, (g) customer lists, telephone lists and directories, choses in action, distribution agreements, license agreements, supply agreements, blueprints, indemnification rights and tax refunds, (h) monies and claims for monies now or hereafter due and payable in connection with the foregoing, including payments for infringement and royalties arising from any licensing agreement between any Credit Party and any licensee of any of such Credit Party's General Intangibles, (i) payment intangibles, certificates of need, books, records, contracts, contract rights, rights (if any) to or in employee or other pension, retirement or similar plans and any assets thereof (to the extent permitted by applicable Law and subject always to the rights of the beneficiaries thereof), or any portion thereof, including refunds for overpayments, distributions upon termination, reversion of any surplus assets or otherwise, returned and unearned insurance premiums, rights and claims under insurance policies including credit insurance and key man life insurance policies, and computer information, software, records and data and (j) Proceeds of any of the foregoing.

"**<u>Goods</u>**" means all present and hereafter acquired "Goods," as defined in the UCC, and all Proceeds thereof.

"**<u>Government Authority</u>**" means any nation or government, any federal, state, municipal, local or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, tribunal, arbitral body, department, administration, authority, program, plan, office, commission, board, bureau, division, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, and any corporation or other Person owned or controlled (through stock or capital ownership or otherwise) by any of the foregoing.

"**<u>Guaranteed Obligations</u>**" has the meaning given to such term in <u>Section 13.1</u>.

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"**<u>Guarantors</u>**" means the collective reference to Parent, each Borrower (in respect of the Guaranteed Obligations of the other Borrower), and each other guarantor of all or any part of the Obligations.

"**<u>Guaranty</u>**" means the guaranty made by Parent and each other Guarantor in favor of Agent for the benefit of Agent and Lenders pursuant to <u>Section 13</u>.

"**<u>Guaranty Agreement</u>**" means each of, and "**<u>Guaranty Agreements</u>**" means the collective reference to, any guaranty agreement (including the Guaranty) with respect to the Obligations in favor of Agent for the benefit of Agent and Lenders, as the same may from time to time be amended, restated, modified or otherwise supplemented.

"**<u>Hazardous Materials</u>**" means petroleum and petroleum products and compounds containing them, including gasoline, diesel fuel and oil; explosives, flammable materials; radioactive materials; polychlorinated biphenyls and compounds containing them; lead and lead-based paint; asbestos or asbestos-containing materials; underground or aboveground storage tanks, whether empty or containing any substance; any substance the presence of which is prohibited by any Environmental Laws; toxic mold; any substance that requires special handling; and any other material or substance now or in the future defined as a "hazardous substance," "hazardous material," "hazardous waste," "toxic substance," "toxic pollutant," "contaminant," "pollutant" or other words of similar import within the meaning of any Environmental Law, including: (a) any "hazardous substance" defined as such in (or for purposes of) CERCLA, or any so-called "superfund" or "superlien" Law, including the judicial interpretation thereof; (b) any "pollutant or contaminant" as defined in 42 U.S.C. § 9601(33); (c) any material now defined as "hazardous waste" pursuant to 40 C.F.R. Part 260; (d) any petroleum or petroleum by-products, including crude oil or any fraction thereof; (e) natural gas, natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel; (f) any "hazardous chemical" as defined pursuant to 29 C.F.R. Part 1910; (g) any toxic or harmful substances, wastes, materials, pollutants or contaminants (including asbestos, polychlorinated biphenyls, flammable explosives, radioactive materials, infectious substances, materials containing lead-based paint or raw materials which include hazardous constituents); and (h) any other toxic substance or contaminant that is subject to any Environmental Laws or other past or present requirement of any Government Authority.

"**<u>Immaterial Subsidiary</u>**" means any Subsidiary that (a) had (i) Specified Assets, as of the last day of the fiscal quarter of Borrower most recently ended for which financial statements have been delivered pursuant to <u>Section 8.8(a)</u> or <u>(b)</u>, with a value of less than 2.5% of the Total Specified Assets as of such date, and (ii) revenues, for the period of four consecutive fiscal quarters ending on such date, representing less than 2.5% of the Total Revenues for such period, and (b) taken together with all other Immaterial Subsidiaries (after eliminating intercompany obligations), had (i) Specified Assets, as of the last day of the fiscal quarter of Borrower most recently ended for which financial statements have been delivered pursuant to <u>Section 8.8(a)</u> or <u>(b)</u>, with a value of less than 5% of the Total Specified Assets as of such date, and (ii) revenues, for the period of four consecutive fiscal quarters ending on such date, representing less than 5% of the Total Revenues for such period. Each Immaterial Subsidiary as of the Closing Date shall be set forth on <u>Schedule 1.1(a)</u>.

"**<u>Indebtedness</u>**" of any Person means, without duplication, (a) all indebtedness for borrowed money, whether or not evidenced by bonds, debentures, notes or similar instruments, (b) obligations with respect to Capital Leases, (c) all obligations to pay the deferred purchase price of Property or services (other than trade payables incurred in the Ordinary Course of Business and repayable in accordance with customary trade practices), including earn-outs and similar payment obligations of such Person, (d) all

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indebtedness secured by a Lien on the property of such Person, whether or not such indebtedness shall have been assumed by such Person, (e) all obligations, contingent or otherwise, with respect to the face amount of all letters of credit (whether or not drawn) and banker's acceptances issued for the account of such Person, (f) all Derivative Obligations, (g) all Contingent Liabilities, (h) all liabilities of any partnership or joint venture of which such Person is a general partner or joint venturer, but only to the extent there is recourse to such Person for the payment thereof, (i) all obligations to make any payment in connection with any warrants or any other Equity Interests including any put, redemption and mandatory dividends, of such Person or any Affiliate thereof and (j) all obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Disqualified Equity Interest in such Person or any other Person. For all purposes hereof, the Indebtedness of any Person shall exclude (i) deferred Taxes and accrued expenses payable in the ordinary course of business, (ii) any purchase price or working capital adjustment obligation, (iii) obligations under non-compete agreements, (iv) accruals for payroll and other liabilities accrued in the ordinary course of business, (v) any lease, concession or license of property (or guarantee thereof) that would be considered an operating lease under GAAP as in effect on December 31, 2018 and (vi) any prepayments of deposits received from clients or customers in the ordinary course of business or consistent with past practices, or obligations under any license, permit or other approval (or guarantees given in respect of such obligations) incurred prior to the Closing Date or in the Ordinary Course of Business or consistent with past practices.

"**<u>Indemnified Party</u>**" has the meaning given to such term in <u>Section 11.5(a)</u>.

"**<u>Indemnified Taxes</u>**" means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by, or on account of the Obligations of, any Credit Party under this Agreement or any other Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.

"**<u>Initial Term Loan</u>**" means the initial term loan in the initial principal amount of $186,500,000 made (or deemed made) by Lenders to Borrower on the Closing Date on the terms and conditions set forth in <u>Section 4.1</u>.

"**<u>Initial Term Loan Commitment</u>**" means, with respect to any Lender, the Commitment of such Lender to make a portion of the Initial Term Loan to Borrower on the Closing Date pursuant to the terms of <u>Section 3</u> of this Agreement and subject to the conditions of <u>Section 4</u> of this Agreement, in the amount set forth opposite the name of such Lender on the Commitment Schedule hereto and, with respect to all Lenders, the aggregate Commitments of Lenders to make the Initial Term Loan to Borrower on the Closing Date in the aggregate amount of $186,500,000. The Initial Term Loan Commitment shall terminate on the Closing Date immediately upon the making of the Initial Term Loan.

"**<u>Intellectual Property</u>**" means, with respect to any Person, all Patents, Patent applications and like protections, including improvements divisions, continuation, renewals, reissues, extensions and continuations in part of the same, Trademarks, trade names, trade styles, trade dress, service marks, logos and other business identifiers and, to the extent permitted under applicable Law, any applications therefore, whether registered or not, and the goodwill of the business of such Person connected with and symbolized thereby, Copyright rights, Copyright applications, Copyright registrations and like protections in each work of authorship and derivative works, whether published or unpublished, technology, know-how and processes, operating manuals, trade secrets, computer hardware and software, rights to unpatented inventions and all applications and licenses therefor, used in or necessary for the conduct of business by such Person and all claims for damages by way of any past, present or future infringement of any of the foregoing.

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"**<u>Interest Payment Date</u>**" means (a) on or prior to November 14, 2026, December 17, April 22, June 16 and September 16 and (b) thereafter, February 15, May 15, August 15 and November 15 of each fiscal year; <u>provided</u> that, if such date is not a Business Day, such interest shall be due and payable on the immediately succeeding Business Day.

"**<u>Interest Shares</u>**" has the meaning given to such term in <u>Section 5.1</u>.

"**<u>Inventory</u>**" means all of the Credit Parties' present and hereafter acquired inventory (as defined in the UCC) including all merchandise and inventory in all stages of production (from raw materials through work-in-process to finished goods), and all additions, substitutions and replacements thereof, wherever located, together with all goods and materials used or usable in manufacturing, processing, packaging or shipping of the foregoing, and all Proceeds of any of the foregoing.

"**<u>Investment</u>**" means any investment in any Person, whether by means of acquiring (whether for cash, property, services, securities or otherwise) or holding securities, capital contributions, loans, time deposits, advances, guarantees or otherwise, and shall include, without limitation, any Acquisition. The amount of any Investment shall be the amount of cash actually invested or the fair market value of other property actually invested (measured at the time made) <u>plus</u> the cost of all additions thereto (valued in the same manner), <u>minus</u> the amount of any cash return realized on such Investment, without any adjustments for increases or decreases in value, or write ups, write downs or write offs with respect thereto and without adjustment by reason of the financial condition of such other Person.

"**<u>Investment Property</u>**" means all of the Credit Parties' present and hereafter acquired "Investment Property," as defined in the UCC, together with all stock and other Equity Interests in the Credit Parties' direct Subsidiaries, and all Proceeds thereof.

"**<u>Involuntary Disposition</u>**" means any loss of, damage to or destruction of, or any condemnation or other taking for public use of, any Property of any Credit Party.

"**<u>Joinder</u>**" means a Joinder to Credit and Security Agreement in form of <u>Exhibit F</u> attached hereto.

"**<u>Laws</u>**" means any and all federal, state, provincial, territorial, local and foreign statutes, laws, judicial decisions, regulations, ordinances, rules, judgments, orders, decrees, codes, injunctions, permits, governmental agreements and governmental restrictions, whether now or hereafter in effect, which are applicable to Parent or any Subsidiary in any particular circumstance.

"**<u>Lender</u>**" has the meaning set forth in the introductory paragraph hereto.

"**<u>Legal Reservations</u>**" means

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the principle that equitable remedies may be granted or refused at the discretion of a court and the limitation of enforcement by laws relating to insolvency, reorganization and other laws generally affecting the rights of creditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;[reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;similar principles, rights and defenses under the laws of any relevant jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;[reserved]; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any other matters which are set out as qualifications or reservations as to matters of law of general application in any legal opinion relating to matters of English law delivered to the Agent in connection with the Loan Documents.

"**<u>Lien</u>**" means any mortgage, assignment, assignment by way of security, lien, pledge, charge, security interest or similar encumbrance.

"**<u>Liquidity</u>**" means, as of any date of determination, the sum of (a) the aggregate unused amount of all commitments then in effect and which are then available to be drawn under any revolving or working capital credit facility available to the Credit Parties; <u>provided</u> that, for purposes of this definition, no more than $10,000,000 of such unused commitments shall be included in the determination of Liquidity at any time and (b) Qualified Cash.

"**<u>Liquidity Test Date</u>**" has the meaning given to such term in <u>Section 9</u> of this Agreement.

"**<u>Loan</u>**" means an Initial Term Loan.

"**<u>Loan Documents</u>**" means this Agreement, the Promissory Notes, the Agent Fee Letter, the Guaranty Agreements, the Pledge Agreements, any Subordination Agreement and any other intercreditor agreement required to be entered into pursuant to the terms of this Agreement, any Joinder, any other closing documents executed by any Credit Party, any other ancillary loan agreements, pledge agreements, security agreements and all other certificates, documents and instruments executed and delivered, in each case, by or on behalf of any Credit Party from time to time in connection with this Agreement, all as may be renewed, amended, restated or supplemented from time to time.

"**<u>Make-Whole Amount</u>**" means, as determined by the Lenders, (a) the present value of all required interest payments that would be due on the principal amount of the Initial Term Loans that are repaid, prepaid, refinanced, replaced or accelerated (other than pursuant to any mandatory prepayment required by <u>Section 3.3(d)</u>) from the date of such event through and including the twenty four (24) month anniversary of the Closing Date (excluding accrued but unpaid interest to the date of such event) <u>plus</u> (b) the Prepayment Premium that would be due on the principal amount of the Initial Term Loans that are repaid, prepaid, refinanced, replaced or accelerated (other than pursuant to any mandatory prepayment required by <u>Section 3.3(d)</u>) if such redemption, repurchase, payment, repayment, prepayment, refinancing, replacement or acceleration were made or occurred on the day after the twenty four (24) month anniversary of the Closing Date, in the case of <u>clause (a)</u> discounted to the date of such event on a quarterly basis (assuming a 360-day year and actual days elapsed) at a rate equal to the sum of the Treasury Rate <u>plus</u> 0.50%.

"**<u>Margin Stock</u>**" means any "margin stock," "margin security," "marginable OTC stock" or "foreign margin stock" within the meaning of Regulation T, U or X of the Federal Reserve Board.

"**<u>Material Adverse Effect</u>**" means, with respect to any event, act, condition or occurrence of whatever nature (including any adverse determination in any litigation, arbitration, or governmental investigation or Proceeding), whether singly or in conjunction with any other event or events, act or acts, condition or conditions, occurrence or occurrences, whether or not related, a material adverse change in, or a material adverse effect upon, any of (i) the business, results of operations, properties or financial condition of Parent and its Subsidiaries taken as a whole, (ii) the rights and remedies of Agent or Lenders (taken as a whole) under any of the Loan Documents, or any impairment of the ability of the Credit Parties (taken as a whole) to perform their obligations under any of the Loan Documents, or (iii) the legality, validity or enforceability of any of the Loan Documents.

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"**<u>Material Intellectual Property</u>**" means Intellectual Property which is material to the ongoing operation of the business of the Credit Parties, taken as a whole.

"**<u>Material Real Property</u>**" means each parcel of real property (other than single family homes owned by a Credit Party in the ordinary course of business) and the improvements thereon located in the United States and owned in fee by a Credit Party with an individual fair market value greater than $2,000,000 as determined on the Closing Date for existing real property and on the date of acquisition for any after-acquired real property (or the date of substantial completion of any material improvements thereon or new construction thereof).

"**<u>Maturity Date</u>**" means January 31, 2030; provided that, if such date is not a Business Day, then the Maturity Date shall be the succeeding Business Day.

"**<u>Minimum Liquidity Test</u>**" has the meaning set forth in <u>Section 9.1</u>.

"**<u>Minimum Liquidity Test Cure Amount</u>**" has the meaning set forth in <u>Section 9.2</u>.

"**<u>Minimum Liquidity Test Cure Expiration Date</u>**" has the meaning set forth in <u>Section 9.2</u>.

"**<u>Moody's</u>**" means Moody's Investors Service, Inc.

"**<u>Multiemployer Plan</u>**" means a "multiemployer plan" as defined in Section 3(37) of ERISA which is contributed to by, or required to be contributed by, Parent, any of its Subsidiaries or any of their respective ERISA Affiliates, or with respect to which any of Parent, any of its Subsidiaries or any of their respective ERISA Affiliates have any liability.

"**<u>Net Cash Proceeds</u>**" means, with respect to any transaction or event, the amount of cash proceeds received from time to time by or on behalf of Parent or any Subsidiary in connection therewith (including cash proceeds of any non-cash proceeds) after deducting therefrom only (i) the amount of any Indebtedness secured by any Lien on any asset which is required to be, and is, repaid in connection with any Disposition or Involuntary Disposition, (ii) out-of-pocket fees, commissions, and expenses that are reasonably incurred and required to be paid by Parent or any Subsidiary in connection therewith, and (iii) Taxes paid or payable to any taxing authorities by Parent or any Subsidiary in connection therewith (<u>provided</u>, that if the actual amount of Taxes paid is less than the estimated amounts, the difference shall immediately constitute Net Cash Proceeds), in each case to the extent, but only to the extent, that the amounts so deducted are, at the time of receipt of such cash, actually paid or payable to a Person that is not an Affiliate of Parent or any Subsidiary, and are properly attributable to such transaction.

"**<u>NYSE</u>**" means the New York Stock Exchange.

"**<u>Obligations</u>**" means (a) all loans, advances and other extensions of credit made pursuant to this Agreement by the Lenders to the Credit Parties (or any of them), or to others for the Credit Parties' account (including all Initial Term Loans); (b) any and all other indebtedness, obligations and liabilities which may be owed by the Credit Parties (or any of them) to Agent or any Lender and arising out of, or incurred in connection with, this Agreement or any of the other Loan Documents (including any Prepayment Premium due and owing in accordance with <u>Section 3.3</u>, and all Out-of-Pocket Expenses) (whether such indebtedness, obligations and liabilities arose or accrued during the pendency of any bankruptcy, insolvency or similar proceeding, and regardless of whether allowed or allowable in such proceeding), whether (i) now in existence or incurred by the Credit Parties (or any of them) from time to time hereafter, (ii) secured by a pledge, a Lien upon or a security interest in any Credit Party's assets or

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property or the assets or property of any other Person, (iii) such indebtedness is absolute or contingent, joint or several, matured or unmatured, direct or indirect, or (iv) the Credit Parties are liable to Agent or any Lender for such indebtedness as principals, sureties, endorsers, guarantors or otherwise; and (c) without duplication, the Credit Parties' liabilities to Agent under any instrument of guaranty or indemnity, or arising under any guaranty, endorsement or undertaking which Agent, on behalf of Lenders, may make or issue to others for the account of the Credit Parties (or any of them), including Agent's acceptance of drafts or Agent's endorsement of notes or other instruments for the Credit Parties' account and benefit.

"**<u>OFAC</u>**" means the U.S. Department of Treasury Office of Foreign Assets Control.

"**<u>OFAC Lists</u>**" means, collectively, the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) and/or any other list of terrorists or other restricted Persons maintained pursuant to any of the rules and regulations of OFAC or pursuant to any other applicable executive orders.

"**<u>Ordinary Course of Business</u>**" means, in respect of any transaction involving any Credit Party or any Subsidiary, the ordinary course of such Credit Party's or such Subsidiary's business or as conducted by such Credit Party or such Subsidiary in accordance with past practice.

"**<u>Organizational Documents</u>**" means, (a) with respect to any corporation, the, charter, certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction) and operating agreement or limited liability company agreement (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction other than England and Wales); and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Government Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or organization of such entity.

"**<u>Other Connection Taxes</u>**" means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

"**<u>Other Taxes</u>**" means any and all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes arising from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than a designation or an assignment made pursuant to <u>Section 5.8</u>).

"**<u>Out-of-Pocket Expenses</u>**" means (a) all of Agent's present and future reasonable and documented out-of-pocket costs, fees and expenses incurred in connection with or related to this Agreement and the other Loan Documents, including without limitation, (i) reasonable and documented

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out-of-pocket cost of lien searches (including tax lien and judgment lien searches), pending litigation searches and similar items; (ii) documented out-of-pocket fees and taxes imposed in connection with the filing of any financing statements or other personal property security documents; (iii) [reserved]; (iv) [reserved]; (v) all reasonable and documented out-of-pocket costs, fees and expenses incurred by Agent in connection with any action taken under <u>Section 8.1</u> hereof, including reasonable and documented out-of-pocket travel, meal and lodging expenses of Agent's personnel; (vi) all out-of-pocket costs, fees and expenses incurred by Agent in connection with the collection of Casualty Proceeds; (vii) all reasonable and documented out-of-pocket costs, fees, expenses and disbursements of counsel hired by Agent to consummate the transactions contemplated by this Agreement (including the documentation, negotiation and administration of this Agreement, the other Loan Documents and all amendments, supplements and restatements thereto or thereof), and to advise Agent and/or Lenders as to matters relating to the transactions contemplated hereby (limited to the reasonable, documented out-of-pocket fees, disbursements and other charges of (A) one primary counsel to Agent and, if reasonably necessary, one local counsel to the Agent in each relevant material jurisdiction (which may include a single special counsel acting in multiple jurisdictions, in each case, in relevant jurisdictions material to the interests of Agent) and (B) one primary counsel to the Lenders, taken as a whole and, if reasonably necessary, one local counsel to the Lenders, taken as a whole, in each relevant material jurisdiction (which may include a single special counsel acting in multiple jurisdictions, in each case, in relevant jurisdictions material to the interests of the Lenders)); and (b) all out-of-pocket costs, fees and expenses incurred by Agent and each Lender in connection with (i) any action taken under <u>Section 11.3</u> hereof; and (ii) the collection, liquidation, enforcement, protection and defense of the Obligations, the Collateral and the rights of Agent and Lenders under this Agreement, including all reasonable fees and disbursements of, without duplication, in-house and outside counsel to Agent and Lenders (limited to the reasonable, documented out-of-pocket fees, disbursements and other charges of (A) one primary counsel to Agent and, if reasonably necessary, one local counsel to the Agent in each relevant material jurisdiction (which may include a single special counsel acting in multiple jurisdictions, in each case, in relevant jurisdictions material to the interests of Agent) and (B) one primary counsel to the Lenders, taken as a whole and, if reasonably necessary, one local counsel to the Lenders, taken as a whole, in each relevant material jurisdiction (which may include a single special counsel acting in multiple jurisdictions, in each case, in relevant jurisdictions material to the interests of the Lenders)) incurred as a result of a workout, restructuring, reorganization, liquidation, insolvency proceeding and in any appeals arising therefrom, whether incurred before, during or after the termination of this Agreement or the commencement of any case with respect to the Credit Parties (or any of them) under the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws); <u>provided</u> that notwithstanding anything to the contrary in this Agreement or any Loan Document, the fees and expenses of the primary counsel to the Lenders, taken as a whole, incurred on or prior to the Closing Date shall be limited as set forth in Section 4.4 of the Exchange Agreement.

"**<u>Paid in Full</u>**" or "**<u>paid in full</u>**" (or any corollary thereof, i.e., "Payment in Full" or "payment in full") has the meaning set forth in <u>Section 1.2</u>.

"**<u>Parent</u>**" has the meaning set forth in the introductory paragraph hereto.

"**<u>Participant</u>**" has the meaning given to such term in <u>Section 14.11(b)(i)</u>.

"**<u>Patents</u>**" means all of the Credit Parties' present and hereafter acquired patents, patent applications, registrations, all reissues and renewals thereof, all licenses thereof, all inventions and improvements claimed thereunder, all general intangible, intellectual property and other rights of any Credit Party with respect thereto, and all income, royalties and other Proceeds of the foregoing.

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"**<u>PATRIOT Act</u>**" means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001, as amended from time to time)).

"**<u>PBGC</u>**" means the Pension Benefit Guaranty Corporation or any successor thereto.

"**<u>Pension Plan</u>**" means any Employee Benefit Plan, other than a Multiemployer Plan, which is subject to Section 412 of the Code or Section 302 of ERISA or Title IV of ERISA.

"**<u>Perfection Certificate</u>**" means the Perfection Certificate delivered to Agent on the Closing Date.

"**<u>Perfection Exceptions</u>**" means that none of Parent or its Subsidiaries shall be required to (i) subject to <u>clause (v)</u>, take any action to create or perfect any security interest in the Collateral (including the registration of Intellectual Property in, and the execution of any agreement, document or other instrument governed by the law of, and the filing of any agreement, document or other instrument) in any jurisdiction other than the United States, any State thereof or the District of Columbia, or any Approved Foreign Jurisdiction, (ii) [reserved], (iii) perfect the security interest in the following other than by the filing of a UCC financing statement: (x) Letter-of-Credit Rights, (y) Commercial Tort Claims and (z) Fixtures (as defined in the UCC), except to the extent that the same are Equipment (as defined in the UCC), (iv) send notices to account debtors or other contractual third-parties unless an Event of Default has not been cured or waived and is continuing and Agent has exercised its acceleration rights pursuant to <u>Section 11</u> of this Agreement, (v) take any action in relation to security (including any perfection step, further assurance step, filing or registration) in any jurisdiction other than the jurisdiction in which such Guarantor is organized or its business headquarters or principal place of business, (vi) deliver landlord waivers, estoppels or collateral access letters, (vii) other than with respect to Material Real Property, take any perfection or recording action with respect to any fee-owned real property or any interests therein, (viii) enter into any source code escrow arrangement or be obligated to register intellectual property in any jurisdiction other than the United States, (ix) take any action to comply with the Federal Assignment of Claims Act or any similar statute or (x) take any perfection action in relation to digital assets, cryptocurrencies, stablecoins or other blockchain-based or tokenized assets. For the avoidance of doubt, nothing herein shall limit any Credit Party's requirement to (x) enter into control agreements with respect to, or otherwise perfect any security interest by "control" (or similar arrangements) over commodities accounts, securities accounts, deposit accounts, futures accounts, other bank accounts, cash and Cash Equivalents and accounts related to the clearing, payment processing and similar operations of Parent and its Subsidiaries, in each case, other than Excluded Accounts, (y) enter into, and ensure the appropriate filing of, Intellectual Property security agreements with regard to Intellectual Property or (z) perfect liens via the filing of UCC financing statements other than as specifically excluded by clause (iii) above.

"**<u>Permits</u>**" means, with respect to any Person, any permit, approval, clearance, authorization, license, registration, certificate, concession, grant, franchise, variance or permission from, and any other contractual obligations with, any Government Authority, in each case whether or not having the force of law and applicable to or binding upon such Person or any of its Property or products or to which such Person or any of its Property or products is subject.

"**<u>Permitted Acquisition</u>**" means any Acquisition after the Closing Date by Borrower or any Subsidiary, in each case so long as each of the following conditions shall have been satisfied, or Agent has agreed in writing to treat such Acquisition as a Permitted Acquisition:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;no Default or Event of Default shall then exist or would exist after giving effect to such Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Parent and its Subsidiaries shall be in compliance with <u>Section 10.9</u> after giving effect to such Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Parent and its Subsidiaries shall be in compliance with <u>Section 9</u> immediately after giving effect to such Acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any Person acquired in connection with such Acquisition (i) becomes a Subsidiary or (ii) in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into, or transfers or conveys all or substantially all of its assets to, or is liquidated into, Borrower or any of its Subsidiaries (and any Investment held by such Person that was not acquired by such Person in contemplation of so becoming a Subsidiary or in contemplation of such merger, consolidation, amalgamation, transfer, conveyance or liquidation);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Borrower and its Subsidiaries shall comply with their obligations under <u>Sections 6</u>, <u>8.2</u> and <u>8.15</u> with respect to any Person or assets acquired in connection with such Acquisition, to the extent and within the time periods required thereby, and subject to the Perfection Exceptions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;such Acquisition is financed with (i) the issuance of Equity Interests of Parent (or any parent company thereof) or Borrower (other than Disqualified Equity Interests), (ii) cash (including the cash proceeds of any such Equity Interests or of Permitted Indebtedness) and/or (iii) Permitted Indebtedness.

"**<u>Permitted Contest</u>**" means a contest maintained in good faith by appropriate proceedings promptly instituted and diligently conducted and with respect to which such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made, so long as compliance with the obligation that is the subject of such contest has been effectively stayed during such challenge, and the related Indebtedness has not become immediately due and payable during such contest.

"**<u>Permitted Dispositions</u>**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; Dispositions of Inventory and other assets in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; Disposition of obsolete or worn out Property (other than Equity Interests of any Subsidiary) in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; Dispositions of Property (other than Equity Interests of any Subsidiary) in the Ordinary Course of Business or property that is no longer used or useful in Parent's or its Subsidiaries' business and the leasing or subleasing in the Ordinary Course of Business of owned or leased Properties which are excess Properties or are no longer used or useful in Parent's or its Subsidiaries' businesses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; Dispositions of cash and Cash Equivalents and conversions of Cash Equivalents into cash or other Cash Equivalents,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp; the unwinding of hedging or swap contracts entered into in the Ordinary Course of Business,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp; the lapse, abandonment, non-renewal or discontinuance of use or maintenance of or other Dispositions of any registrations or applications for registration of any intellectual property rights of

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Parent or any of its Subsidiaries that, in the good faith determination of Parent or such Subsidiary, is no longer economically desirable to maintain or useful in the conduct of the business of such Person; <u>provided</u> that in no event shall Material Intellectual Property be disposed of pursuant to this clause (f),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp; non-exclusive licenses or sublicenses of Intellectual Property and leases or subleases of real Property, in each case granted to third parties in the Ordinary Course of Business, <u>provided</u> that in no event shall Material Intellectual Property be disposed of pursuant to this clause (g),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp; transactions that are permitted pursuant to <u>Sections 10.1</u>, <u>10.4</u>, <u>10.6</u>, <u>10.7</u> or <u>10.8</u>, in each case, to the extent such transactions constitute Dispositions,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) &nbsp;&nbsp;&nbsp;&nbsp;Dispositions of assets or Property (i) by any Credit Party or any of its Subsidiaries to any Credit Party; (ii) by any Subsidiary that is not a Credit Party to any other Subsidiary that is not a Credit Party; and (iii) by any Credit Party to any Subsidiary that is not a Credit Party that is otherwise permitted pursuant to <u>Section 10.3</u>,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) &nbsp;&nbsp;&nbsp;&nbsp;a sale, assignment or other transfer of Receivables Assets, or participations therein, and related assets (i) to a Receivables Subsidiary in a Qualified Receivables Financing or (ii) to any other Person in a Qualified Receivables Factoring,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) &nbsp;&nbsp;&nbsp;&nbsp;a sale, assignment or other transfer of Receivables Assets, or participations therein, and related assets by a Receivables Subsidiary in a Qualified Receivables Financing,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp; any other Disposition so long as (i) no Default has occurred and is continuing immediately before and after giving effect to such Disposition, (ii) such Disposition is for fair market value (as determined in good faith by Borrower) and (iii) not less than seventy-five percent (75%) of the consideration received (on a per transaction basis) by Parent or any Subsidiary, as the case may be, for the asset or Property sold in such Disposition shall be in the form of cash or Cash Equivalents (with (i) any Indebtedness secured by such assets or Property assumed by the purchaser of such assets or Property or extinguished in connection with the transactions relating to such Disposition and (ii) any consideration received in the form of Indebtedness converted into cash within ninety (90) days after the Disposition of such assets or Property); <u>provided</u> that the Net Cash Proceeds of any such Disposition shall be applied to prepay Initial Term Loans and other Indebtedness permitted by <u>Section 10.2</u> in accordance with, and subject to the limitations set forth in, <u>Sections 3.3(d)(i)</u> and <u>(e)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) &nbsp;&nbsp;&nbsp;&nbsp;the sale or issuance of any Subsidiary's Equity Interests to Borrower or any Guarantor that is a wholly owned Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of Investments in joint ventures to the extent required by, or made pursuant to customary buy/sell arrangements, drag-along rights, put rights, call rights or similar arrangements between, the joint venture parties set forth in joint venture arrangements and similar binding arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions, terminations or non-renewals of leases or subleases or licensing or sublicensing agreements (i) the Disposition, termination or non-renewal of which will not materially interfere with the business of Parent and its Subsidiaries, (ii) which relate to closed facilities or the discontinuation of any product line to the extent such closing or discontinuation is permitted pursuant to the terms herein, or (iii) is made in the Ordinary Course of Business;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of equipment or real property to the extent that (a) such property is exchanged for credit against the purchase price of similar replacement property or (b) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions of receivables in connection with the compromise, settlement or collection thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;any surrender or waiver of contractual rights or the settlement, release, recovery on or surrender of contract, tort or other claims of any kind that occur in the ordinary course of Parent's or any Subsidiary's business, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;Dispositions (including sales, transfers, licenses, leases, or other conveyances) of assets or Property to Eaton, or pursuant to any partnership, joint venture, collaboration, co-development, co-manufacturing, supply, licensing, or similar arrangement with Eaton, on terms approved by the Board of Directors (or similar governing body) of Borrower or Parent by majority vote (acting in its reasonable discretion).

**"<u>Permitted Encumbrances</u>"** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all Liens existing on the Closing Date set forth on <u>Schedule 10.1</u> and any modifications, renewals and extensions thereof and any Lien granted as a replacement or substitute therefor; <u>provided</u> that (i) such Lien shall not apply to any other property or asset of Parent, Borrower or any Subsidiary other than improvements thereon or proceeds thereof and (ii) such Lien shall secure only those obligations which it secures on the Closing Date and any refinancing, extension, renewal or replacement thereof that does not increase the outstanding principal amount thereof except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing, extensions, renewals or replacements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;Liens securing trade payables, purchase orders and other agreements entered into with customers, suppliers or service providers of Parent or any Subsidiary in the Ordinary Course of Business; Liens relating to purchase orders and other agreements entered into with customers, suppliers or service providers of Parent or any of its Subsidiary in the ordinary course of business

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Purchase Money Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Liens of landlords, carriers, warehousemen, bailees, mechanics, repairmen, materialmen and other similar Liens arising in the Ordinary Course of Business and securing amounts not overdue by more than 90 days (or which are the subject of a Permitted Contest and which proceedings are sufficient to prevent imminent foreclosure of such Liens);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;pledges or deposits made (and the Liens thereon) in the Ordinary Course of Business (including security deposits for leases, indemnity bonds, surety bonds and appeal bonds) in connection with workers' compensation, unemployment insurance and other types of social security benefits or to secure the performance of leases, bonds, tenders, bids, contracts (other than for the repayment or guarantee of borrowed money or purchase money obligations), statutory obligations and other similar obligations arising as a result of progress payments under government contracts, in each case, incurred by Parent or any Subsidiary in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;easements (including reciprocal easement agreements and utility agreements), zoning restrictions, rights-of-way, encroachments, minor defects or irregularities in title, variation and other

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similar restrictions, charges or encumbrances (whether or not recorded), if applicable, and which in the aggregate do not materially interfere with the occupation, use or enjoyment by Parent or any Subsidiary of its business or Property so encumbered;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Liens granted to Agent and/or any Lender, for the benefit of the Agent and the Lenders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Permitted Tax Liens and Liens imposed by law for assessments or governmental charges or levies that are the subject of a Permitted Contest and which are sufficient to prevent imminent foreclosure of such Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing judgments, orders or awards for the payment of money against Parent or any Subsidiary not constituting an Event of Default under <u>Section 11.1(l)</u>, and which are subject to a Permitted Contest through an appeal or other proceeding for review that is then being pursued and the execution or other enforcement of such Lien is effectively stayed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;any interest and title of a lessor under, and Liens arising from precautionary UCC financing statements (or equivalent filings, registrations or agreements in foreign jurisdictions) relating to, operating leases entered into by Parent or any Subsidiary in the Ordinary Course of Business and other statutory and common law landlords' Liens under leases;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;bankers' Liens, rights of setoff and other similar Liens existing solely with respect to cash and Cash Equivalents on deposits in one or more accounts maintained by Parent or any Subsidiary, in favor of the banks, securities intermediaries or other depository institutions with which such accounts are maintained, securing amounts owing to such institutions with respect to cash management and operating account arrangements, rights of setoff upon deposits of cash in favor of banks or other depository institutions and Liens of a collection bank arising under Section 4-210 of the UCC on items in the course of collection, in each case, incurred by Parent or any Subsidiary in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Liens on premium refunds and insurance proceeds granted in favor of insurance companies (of their financing affiliates) solely in connection with the financing of insurance premiums in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising by operation of law under Article 2 of the UCC (or equivalent foreign law) in favor of a reclaiming seller of goods or buyer of goods arising in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Liens (i) in favor of customs and revenue authorities arising as a matter of Law to secure payment of customs duties in connection with the importation of goods in the Ordinary Course of Business or (ii) securing Indebtedness or obligations incurred or issued pursuant to <u>clauses (k)</u>, <u>(m)</u> or <u>(n)</u> of the definition of "Permitted Indebtedness";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Liens arising out of any refinancing, extension, renewal or refunding of any Permitted Indebtedness secured by any Lien permitted pursuant to the definition of "Permitted Encumbrances", <u>provided</u> that such Lien shall at no time be extended to cover any Property other than such Property subject thereto on the Closing Date or the date such Lien was incurred, as applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;Liens on the proceeds of insurance policies securing the Indebtedness permitted under <u>clause (l)</u> of the definition of "Permitted Indebtedness";

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Liens on any property or asset acquired in connection with a Permitted Acquisition, or on any property or asset of any Subsidiary in existence at the time such Subsidiary is acquired in connection with a Permitted Acquisition; <u>provided</u> that (i) such Liens are not incurred in connection with, or in contemplation or anticipation of, such Permitted Acquisition and do not attach to any other property or asset of Parent or any Subsidiary and (ii) if such Lien secures Indebtedness, such Indebtedness is permitted in accordance with <u>Section 10.2</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;Liens in respect of judgments that do not constitute an Event of Default;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;other Liens on Collateral securing Indebtedness or obligations permitted to be incurred pursuant to the definition of "Permitted Indebtedness"; <u>provided</u> that (i) such Liens shall be pari passu with the Liens securing the Initial Term Loan and (ii) the aggregate principal amount of all Indebtedness or obligations secured by such Liens shall not to exceed $15,000,000 at any time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing Indebtedness or obligations permitted to be incurred pursuant to <u>clause (x)</u> of the definition of "Permitted Indebtedness"; <u>provided</u> that (i) in the case of any such Indebtedness in the form of a cash-flow revolving credit facility, (A) such Liens shall be pari passu with the Liens securing the Initial Term Loans and (B) such Indebtedness shall not be secured by any assets other than assets that constitute Collateral; and (ii) in the case of any such Indebtedness incurred or issued in connection with a Qualified Receivables Financing or Qualified Receivables Factoring, or that is in the form of an asset-based revolving credit facility, (A) such Liens shall be senior to the Liens securing the Initial Term Loans with respect to Receivables Assets and related assets (including any bank accounts into which only the collections in respect of Receivables Assets have been sold, conveyed, assigned or otherwise transferred or purported to be so sold, conveyed, assigned or otherwise transferred), (B) such Liens shall be junior to the Liens securing the Initial Term Loans with respect to all other Collateral, and (C) such Indebtedness shall be permitted to be secured by assets that do not constitute Collateral, in each case subject to customary intercreditor arrangements reasonably satisfactory to the Required Lenders and Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) &nbsp;&nbsp;&nbsp;&nbsp;leases or subleases granted to other Persons and not interfering in any material respect, individually or taken as a whole, with the business of the lessor or sublessor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) &nbsp;&nbsp;&nbsp;&nbsp;deposits made or other security provided to secure liabilities to insurance carriers under insurance or self-insurance arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) &nbsp;&nbsp;&nbsp;&nbsp;rights of consignors of goods in goods consigned, whether or not perfected by the filing of a financing statement or other registration, recording or filing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) &nbsp;&nbsp;&nbsp;&nbsp;rights reserved to or vested in any Governmental Authority to control or regulate, or obligations or duties to any Governmental Authority with respect to (i) the use of any real property or vessel, or (ii) any right, power, franchise, grant, license, or permit, including present or future zoning laws, building codes and ordinances, zoning restrictions, or other laws and ordinances restricting the occupancy, use, or enjoyment of real property or vessel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;Liens encumbering reasonable customary initial deposits and margin deposits and Liens attaching to commodity trading accounts or other brokerage accounts incurred in the Ordinary Course of Business and not for speculative purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;Liens given to a public utility or any Governmental Authority when required by such utility or Governmental Authority in connection with the operations of Parent or any Subsidiary in the Ordinary Course of Business;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)&nbsp;&nbsp;&nbsp;&nbsp;operating leases of vehicles or equipment which are entered into in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb)&nbsp;&nbsp;&nbsp;&nbsp;customary restrictions in any (i) license agreement with Parent or any Subsidiary as a licensee, including without limitation, with respect to the sale of inventory and (ii) services agreement with Parent or any Subsidiary as a customer with respect to software and cloud services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc)&nbsp;&nbsp;&nbsp;&nbsp;licenses, sublicenses, leases or subleases granted to others in the Ordinary Course of Business and which does not interfere in any material respect with the business of Parent and its Subsidiaries, taken as a whole;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd)&nbsp;&nbsp;&nbsp;&nbsp;the rights reserved or vested in any Person (including any Governmental Authority) by the terms of any lease, sublease, license, or sublicense held by Parent or any of its Subsidiaries or by a statutory provision, to terminate any such lease, sublease, license, or sublicense, or to require annual or periodic payments as a condition to the continuance thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee)&nbsp;&nbsp;&nbsp;&nbsp;in connection with the sale or transfer of any assets in a transaction not prohibited hereunder, customary rights and restrictions contained in agreements relating to such sale or transfer pending the completion thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff)&nbsp;&nbsp;&nbsp;&nbsp;Liens on earnest money deposits of cash or Cash Equivalents made in connection with any acquisition not prohibited hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg)&nbsp;&nbsp;&nbsp;&nbsp;Liens in the nature of the right of setoff in favor of counterparties to contractual agreements not otherwise prohibited hereunder with Parent or any of its Subsidiaries in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh)&nbsp;&nbsp;&nbsp;&nbsp;Liens in favor of counterparties to hedging or swap contracts permitted pursuant to clause (i) of the definition of "Permitted Indebtedness";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any customary encumbrance or restriction (including put and call arrangements) with respect to capital stock of any joint venture or similar customary arrangement pursuant to any joint venture or similar agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj)&nbsp;&nbsp;&nbsp;&nbsp;Liens on cash and Cash Equivalents (and on the related escrow accounts or similar accounts, if any) required to be paid to the lessors (or lenders to such lessors) under leases or maintained in an escrow account or similar account pending application of such proceeds in accordance with the applicable lease;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk)&nbsp;&nbsp;&nbsp;&nbsp;Liens encumbering deposits made to secure obligations arising from statutory or regulatory requirements of that Person or its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll)&nbsp;&nbsp;&nbsp;&nbsp;any encumbrance or restriction (including put and call arrangements) with respect to the Equity Interests of any joint venture or similar arrangement pursuant to any joint venture or similar agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm)&nbsp;&nbsp;&nbsp;&nbsp;Liens on property or assets under construction (and related rights) in favor of a contractor or developer or arising from progress or partial payments by a third party relating to such property or assets;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn)&nbsp;&nbsp;&nbsp;&nbsp;other Liens on Collateral or on assets that do not constitute Collateral, securing Indebtedness or obligations permitted to be incurred pursuant to <u>Section 10.2</u>; <u>provided</u> that any such Liens on Collateral shall be junior to the Liens securing the Initial Term Loans and subject to a Subordination Agreement reasonably satisfactory to the Required Lenders and Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo)&nbsp;&nbsp;&nbsp;&nbsp;Liens in favor of Eaton in connection with any partnership, joint venture, collaboration, co-development, co-manufacturing, or other similar arrangement with Eaton, including any Liens securing Indebtedness or other obligations permitted pursuant to clause (z) of the definition of "Permitted Indebtedness", and any other Liens arising under, or granted to Eaton pursuant to, commercial, licensing, supply, manufacturing, development, or similar agreements entered into in connection therewith, so long as such Liens are limited to the assets, rights, or proceeds that are the subject of such arrangement or agreement, and do not, in the aggregate, materially impair the value of or Agent's security interest in the Collateral.

For all purposes hereunder, (x) a Lien need not be incurred solely by reference to one category of Permitted Encumbrances described in this definition but may be incurred under any combination of such categories (including in part under one such category and in part under any other such category) and (y) in the event that a Lien (or any portion thereof) meets the criteria of one or more of such categories of Permitted Encumbrances, Borrower may, in its sole discretion, classify or reclassify such Lien (or any portion thereof) in any manner that complies with this definition.

"**<u>Permitted Indebtedness</u>**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness existing on the Closing Date and described on <u>Schedule 10.2</u> and any refinancings, renewals or extensions thereof which do not increase the principal amount thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness arising under this Agreement and the other Loan Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;[reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of Parent or Borrower owing to any other Credit Party and of any Credit Party owing to Parent, Borrower or any other Subsidiary; <u>provided</u> that such Indebtedness is permitted under the definition of "Permitted Investments";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Guarantees by Parent or Borrower of Indebtedness of any Subsidiary and by any Subsidiary of Indebtedness of Parent, Borrower or any other Subsidiary; <u>provided</u> that such guarantees are permitted under the definition of "Permitted Investments" (other than <u>clause (v)</u> thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Permitted Purchase Money Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the endorsement of negotiable instruments for deposit or collection or similar transactions in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Contingent Liabilities in respect of obligations of any Credit Party or any Subsidiary to the extent such obligations are permitted hereunder; <u>provided</u> that if such obligation is subordinated to the Obligations, such Contingent Liabilities shall be subordinated to the same extent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;hedging or swap contracts entered into not for speculative purposes;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Indebtedness, obligations in respect of any cash management arrangement and obligations in respect of netting services, overdraft protections and other customary bank products, so long as such obligations are incurred in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness in respect of letters of credit or bankers acceptances issued at the request of Borrower in the Ordinary Course of Business not to exceed $30,000,000 in the aggregate at any time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness consisting of the financing of insurance premiums or take-or-pay obligations contained in supply arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness in respect of leases (other than Capital Leases), statutory obligations, property, casualty or liability insurance, surety, stay, customs, bid and appeal bonds, value added or other tax, performance bonds and performance and completion and return of money guaranties, government contracts and similar obligations incurred in the Ordinary Course of Business or pursuant to self-insurance and similar obligations and not in connection with the borrowing of money or the obtaining of advances or credit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness owed to any Person providing workers' compensation, health, disability or other employee benefits (including contractual and statutory benefits), pursuant to reimbursement or indemnification obligations to such Person, in each case incurred in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness representing deferred compensation to employees, consultants or independent contractors of Parent or any Subsidiary incurred in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Indebtedness, Permitted Investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;Guarantees with respect to Indebtedness permitted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of Parent or any Subsidiary that constitutes Subordinated Indebtedness, Indebtedness secured by a Lien on the Collateral on a junior basis to the Initial Term Loans or Indebtedness that is unsecured; <u>provided</u> that any Indebtedness incurred pursuant to this <u>clause (r)</u> (i) shall not require any scheduled amortization or other mandatory payments of principal prior to the Maturity Date (other than any customary mandatory prepayment or prepayment offer upon a change of control or asset sale), (ii) shall not require any payment of interest in cash prior to the Maturity Date; <u>provided</u> that (x) any such interest may be payable in-kind prior to the Maturity Date and (y) cash interest payments shall be permitted in an aggregate amount not to exceed $10,000,000 in any fiscal year, (iii) shall not mature prior to the Maturity Date or have a shorter Weighted Average Life to Maturity Date than the Initial Term Loans; <u>provided</u> that Extendable Bridge Loans/Interim Debt may have a maturity date earlier than the Maturity Date and a Weighted Average Life to Maturity shorter than the Initial Term Loans and (iv) at the time of incurrence thereof, no Event of Default shall have occurred and be continuing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;customer deposits and advance payments (including progress premiums) received from customers for goods or services purchased in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of any Person acquired by, or merged into or consolidated or amalgamated with, Parent or any Subsidiary after the Closing Date as part of a Permitted Investment, and any refinancings, renewals or extensions thereof which do not increase the principal amount thereof; <u>provided</u> that (i) such Indebtedness exists at the time such Person becomes a Subsidiary and is not created in contemplation of, or in connection with, such Person becoming a Subsidiary and (ii) such Indebtedness is either subordinated in right of payment to the Obligations on subordination terms reasonably satisfactory

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to the Required Lenders and Borrower or otherwise permitted to be incurred pursuant to the definition of "Permitted Indebtedness";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the Ordinary Course of Business or other cash management services in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness arising from agreements of Parent or any Subsidiary providing for deferred purchase price for goods or services, earnouts, indemnification, adjustment of purchase price, seller notes or similar obligations, in each case, incurred or assumed in connection with the acquisition or Disposition of any business, assets or Person otherwise permitted by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness and guarantees of Indebtedness under or in respect of the Existing Convertible Notes, and any refinancings, renewals or extensions thereof which do not increase the principal amount thereof, except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing, renewal or extension;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) &nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of Parent or any Subsidiary incurred in connection with (i) one or more revolving credit facilities and/or (ii) any Qualified Receivables Financing or Qualified Receivables Factoring, in each case that is non-recourse to any Credit Party (except for Standard Securitization Undertakings) other than (x) a Receivables Subsidiary or (y) a Person described in the definition of "Factoring Transaction", in an aggregate principal amount not to exceed the lesser of (A) $75,000,000 and (B) 50% of the sum of the Working Capital Balance at any time outstanding, and any refinancing, renewal or extension thereof that does not increase the principal amount of such Indebtedness, except by an amount equal to any reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing, renewal or extension;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) &nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of Parent or any Subsidiary secured by a Lien on the Collateral on a pari passu basis to the Initial Term Loans in an aggregate principal amount not to exceed $15,000,000 at any time outstanding; <u>provided</u> that such Indebtedness is subject to an intercreditor agreement reasonably acceptable to the Required Lenders and the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) &nbsp;&nbsp;&nbsp;&nbsp;Indebtedness of Parent or any Subsidiary in connection with any partnership, joint venture, collaboration, co-development, co-manufacturing, or other similar arrangement with Eaton on terms approved by the Board of Directors (or similar governing body) of Borrower or Parent by majority vote (acting in its reasonable discretion), and any refinancing, renewal, or extension thereof that does not increase the principal amount of such Indebtedness, except by an amount equal to any reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing, renewal or extension.

For purposes of determining compliance with the definition of "Permitted Indebtedness" and <u>Section 10.2</u>, (i) in the event that an item of Indebtedness (or any portion thereof) meets the criteria of more than one of the categories set forth in the definition of "Permitted Indebtedness"<u>,</u> Borrower shall, in its sole discretion, at the time of incurrence or issuance, divide, classify or reclassify, or at any later time divide, classify or reclassify, such item of Indebtedness (or any portion thereof) in any manner that complies with the definition of "Permitted Indebtedness"; <u>provided</u> that all Indebtedness under this Agreement incurred on or after the Closing Date shall be deemed to have been Incurred pursuant to <u>clause (b)</u> and all Guarantees of the foregoing will be deemed to have been Incurred pursuant to <u>clause (b)</u> and

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Borrower shall not be permitted to reclassify all or any portion of Indebtedness Incurred pursuant to <u>clause (b)</u>. Accrual of interest or dividends, the accretion of accreted value, the accretion or amortization of original issue discount, the payment of interest or dividends in the form of additional Indebtedness with the same terms and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Indebtedness will not be deemed to be an incurrence of Indebtedness for purposes of the definition of "Permitted Indebtedness" or <u>Section 10.2</u>. Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness that are otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of such amount of Indebtedness; <u>provided</u> that the incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with the definition of "Permitted Indebtedness".

Notwithstanding the foregoing, any Indebtedness owed by a Credit Party to a Subsidiary that is not a Credit Party shall be permitted only to the extent subordinated to the Obligations on customary terms reasonably satisfactory to the Required Lenders.

"**<u>Permitted Investments</u>**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;(i) any Investment made by Parent in any Credit Party, (ii) any Investment made by Borrower or any Subsidiary in Borrower or any other Subsidiary that is a Credit Party and (iii) any Investment made by any Subsidiary that is not a Credit Party in any other Subsidiary that is not a Credit Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any Investment made by any Credit Party in any Subsidiary that is not a Credit Party; <u>provided</u> that the aggregate amount of such Investments shall not exceed $50,000,000 per fiscal year; <u>provided further</u> that no more than $10,000,000 shall be invested in any single non-Credit Party other than ChargePoint Technologies India Pvt. Ltd. in any fiscal year; <u>provided further</u> that the non-Credit Parties shall not have more than $25,000,000 in the aggregate of cash and Cash Equivalents, as of the last Business Day of any fiscal quarter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Investments held in the form of cash or Cash Equivalents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;(i) Investments existing or made pursuant to binding commitments in effect on the Closing Date and described on <u>Schedule 10.7</u>, (ii) Investments acquired pursuant to, or held by a Person acquired in, a Permitted Acquisition to the extent that such Investments were not made in contemplation of or in connection with such Permitted Acquisition and were in existence on the date of such Permitted Acquisition, and (iii) any Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in connection with a Qualified Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements governing such Qualified Receivables Financing or any related Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Investments consisting of advances and extensions of credit in the nature of Accounts or notes receivable arising from the grant of trade credit or sale or lease of goods or services or the licensing of property in the Ordinary Course of Business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to prevent or limit loss or received in connection with the bankruptcy or reorganization of suppliers and customers or in settlement of delinquent obligations of, or other disputes with, customers and suppliers arising in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Contingent Liabilities permitted by <u>Section 10.2</u>;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Investments in the form of non-cash consideration received in connection with a Permitted Disposition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting an Investment, the endorsement of negotiable instruments deposited or to be deposited for collection in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Investments resulting from pledges and deposits of cash made in the Ordinary Course of Business to secure obligations secured by Liens to the extent permitted by <u>clauses (d)</u>, <u>(e)</u>, <u>(i)</u>, <u>(k)</u>, <u>(y)</u>, <u>(hh)</u>, <u>(jj)</u> and <u>(kk)</u> of the definition of "Permitted Encumbrances";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;other Investments constituting Indebtedness solely to the extent permitted under the definition of "Permitted Indebtedness";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;advances made in connection with purchases of goods or services in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;equity Investments by any Credit Party in any Subsidiary of such Credit Party which is required by any applicable Law to maintain a minimum net capital requirement or as may be otherwise required by applicable Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;earnest money deposits made in connection with any letter of intent or purchase agreement in connection with a Permitted Acquisition or other Permitted Investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;Permitted Acquisitions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Investments made using cash or Cash Equivalents by Parent or any Subsidiary in an aggregate amount not to exceed $25,000,000; <u>provided</u> that, with respect to any Investment made pursuant to this <u>clause (o)</u>, Parent or such Subsidiary, as applicable, shall comply with its obligations under <u>Sections 6</u>, <u>8.2</u> and <u>8.15</u> with respect to any Person or assets acquired in connection with such Investment, to the extent and within the time periods required thereby, and subject to the Perfection Exceptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;any Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in connection with a Qualified Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements governing such Qualified Receivables Financing or any related Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;loans or advances to officers, directors, employees, managers, consultants and independent contractors of Parent and its Subsidiaries for business related travel, entertainment, relocation and analogous ordinary business purposes, in each case in the Ordinary Course of Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) &nbsp;&nbsp;&nbsp;&nbsp;loans or advances to, or guarantees of Indebtedness of, officers, directors, employees, managers, consultants and independent contractors of Parent and its Subsidiaries in an aggregate amount not to exceed $1,000,000 per fiscal year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) &nbsp;&nbsp;&nbsp;&nbsp;Investments made by the Borrower or any Subsidiary in Parent to the extent permitted to be made as a Restricted Payment by <u>Section 10.6</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;Investments among Credit Parties and their Subsidiaries pursuant to any agreement or arrangement to provide ordinary course facilities or services related to cash management, including

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treasury, depository, overdraft, credit or debit card, purchase card, electronic funds transfer and other cash management arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;Guarantees constituting Permitted Indebtedness (other than <u>clause (e)</u> of the definition of "Permitted Indebtedness");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Investments consisting of the licensing, sublicensing or contribution of any Intellectual Property pursuant to joint marketing, collaboration or other similar arrangements with other Persons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;purchases or redemption of Parent's or Borrower's Equity Interests to the extent permitted by <u>Section 10.6</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) &nbsp;&nbsp;&nbsp;&nbsp;capital expenditures and Investments consisting of or to finance purchases and acquisitions of inventory, supplies, materials, services or equipment or purchases of contract rights or licenses or leases of Intellectual Property in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;Investments representing all or a portion of the sales price for property sold to another Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;any Investment made in lieu of payment of a Tax or in consideration of a reduction in Tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Investments, transactions permitted under <u>Section 10.4</u>; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb)&nbsp;&nbsp;&nbsp;&nbsp;Investments made using assets or Property (other than cash or Cash Equivalents), including by way of the transfer, contribution, or other disposition of assets or Property, by Parent or any Subsidiary in or to any joint venture, partnership, or other similar arrangement; <u>provided</u> that, notwithstanding anything to the contrary herein, with respect to any Investment made pursuant to this <u>clause (cc)</u>, Parent or such Subsidiary, as applicable, shall not be required to comply with <u>Sections 6</u>, <u>8.2</u> or <u>8.15</u> with respect to any Person or assets acquired in connection with such Investment.

For purposes of this definition, the amount of any Investment shall be the amount actually invested without adjustment for subsequent increases or decreases in the value of such Investment, reduced by the amount of any repayment, interest, return, profit, distribution, income or similar amount in respect of such Investment which has actually been received in cash or Cash Equivalents or has been converted into cash or Cash Equivalents.

"**<u>Permitted Purchase Money Indebtedness</u>**" means, as of any date of determination, Funded Indebtedness (other than the Obligations, but including obligations under Capital Leases) incurred after the Closing Date and at the time of, or within 120 days after, the acquisition, construction or improvement of any fixed or capital assets for the purpose of financing all or any part of the acquisition, construction or improvement cost thereof, in an aggregate amount not to exceed $5,000,000 in the aggregate at any time outstanding; and any refinancings, renewals or extensions thereof which do not increase the principal amount thereof, except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing, renewal or extension.

"**<u>Permitted Tax Liens</u>**" means Liens for Taxes not yet delinquent and Liens for Taxes that are the subject of a Permitted Contest.

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"**<u>Person</u>**" means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Government Authority or other entity.

"**<u>Pledge Agreements</u>**" mean those certain Pledge Agreements, and "**<u>Pledge Agreement</u>**" means each Pledge Agreement, executed by any Person in favor of Agent for the benefit of Lenders, as the same may be amended, restated, supplemented or otherwise modified from time to time, and each notice or acknowledgment delivered or executed in connection therewith.

"**<u>Prepayment Date</u>**" has the meaning given to such term in <u>Section 3.3(d)(ii)</u>.

"**<u>Prepayment Date VWAP Price</u>**" means a price per share equal to the volume-weighted average price per share of the Common Stock for the thirty (30) consecutive trading days immediately preceding (but not including) the applicable Prepayment Date, as reported on NYSE (or such other national exchange on which the Common Stock is then listed).

**"<u>Prepayment Premium</u>"** means an amount equal to (i) the Make-Whole Amount if such repayment, prepayment, refinancing, replacement, or acceleration (other than any mandatory prepayment required by <u>Section 3.3(d)</u>) of any Initial Term Loans occurs on or prior to November 14, 2027 or (ii) the product obtained by multiplying the principal amount of any Initial Term Loan repaid, prepaid, refinanced, replaced, or accelerated (other than pursuant to any mandatory prepayment required by <u>Section 3.3(d)</u>) by the percentage determined in accordance with the following chart if such prepayment occurs after November 14, 2027:

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Payment Date** | **Premium Amount** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After November 14, 2027 and on or prior to November 14, 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After November 14, 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00% |

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<u>provided</u> that, notwithstanding anything to the contrary in this Agreement, any repayment, prepayment, refinancing, or replacement of the Initial Term Loans that occurs solely in connection with a Change of Control, shall not require payment of the Make-Whole Amount or the amount set forth in the chart above and shall be subject to the amount as determined in accordance with the following chart:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Payment Date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Payment Date** | **Premium Amount** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On or prior to November 14, 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After November 14, 2027 and on or prior to November 14, 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After November 14, 2027 and on or prior to November 14, 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After November 14, 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After November 14, 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00% |

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Any Prepayment Premium payable in accordance with this definition and <u>Section 3.3</u> shall be presumed to be equal to the liquidated damages sustained by the Lenders as the result of the occurrence of any event triggering the early repayment or prepayment of the Loans and Borrower agrees that it is reasonable under the circumstances currently existing. The parties hereto acknowledge that the Prepayment Premium shall survive acceleration of the Obligations and/or the occurrence of any proceeding under any Debtor Relief Law, and shall automatically accrue to the principal amount of the Loans and shall constitute part of the Obligations for all purposes herein. If the Loans are accelerated for any reason pursuant to the terms herein, the Prepayment Premium shall be calculated as if the date of

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acceleration of the Loans was the date of prepayment of the Loans. BORROWER EXPRESSLY WAIVES THE PROVISIONS OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT PROHIBITS OR MAY PROHIBIT THE COLLECTION OF THE FOREGOING PREPAYMENT PREMIUM IN CONNECTION WITH ANY ACCELERATION. Borrower expressly agrees that: (A) the Prepayment Premium is reasonable and is the product of an arm's length transaction between sophisticated business people, ably represented by counsel; (B) the Prepayment Premium shall be payable notwithstanding the then prevailing market rates at the time payment is made; (C) there has been a course of conduct between the Lenders and Borrower giving specific consideration in this transaction for such agreement to pay the Prepayment Premium; (D) the Prepayment Premium shall also be payable in the event the Obligations are reinstated pursuant to Section 1124 of the Bankruptcy Code; (E) if the Prepayment Premium becomes due and payable pursuant to this Agreement, the Prepayment Premium shall be deemed to be principal of the Loans and Obligations under this Agreement and interest shall accrue on the full principal amount of the Loans (including the Prepayment Premium) from and after the applicable triggering event; (F) in the event that the Prepayment Premium is determined not to be due and payable by order of any court of competent jurisdiction, including, without limitation, by operation of the Bankruptcy Code, despite such a triggering event having occurred, the Prepayment Premium shall nonetheless constitute Obligations under this Agreement for all purposes hereunder; (G) the Prepayment Premium shall not constitute unmatured interest, a penalty or an otherwise unenforceable or invalid obligation; (H) Borrower shall be estopped hereafter from claiming differently than as agreed to in this paragraph; (I) Borrower's agreement to pay the Prepayment Premium is a material inducement to the Lenders to make the Loans to Borrower; and (J) the Prepayment Premium represents a good faith, reasonable estimate and calculation of the lost profits or damages of the Lenders and that it would be impractical and extremely difficult to ascertain the actual amount of damages to the Lenders or profits lost by the Lenders as a result of such event triggering payment of the Prepayment Premium.

"**<u>Private Side Lenders</u>**" means any Lender who, by written notice to the Administrative Agent, agrees to receive information with respect to the Borrower, any of its Subsidiaries or any of the securities of any of the foregoing that (a) is not publicly available, (b) is material with respect to the Borrower, any Subsidiary or any of the securities of any of the foregoing for purposes of United States federal and state securities laws and (c) constitutes information of a type that would not be made publicly available if the Borrower were a public reporting company (as reasonably determined by the Borrower).

"**<u>Pro Rata Percentage(s)</u>**" means, as to each Lender at any time, with respect to the outstanding Initial Term Loans at any time, a fraction (expressed as a percentage), the numerator of which is the principal amount of the outstanding Initial Term Loans held by such Lender at such time and the denominator of which is the aggregate outstanding principal amount of the Initial Term Loans held by all Lenders at such time.

"**<u>Proceeding</u>**" means any actual or threatened in writing civil, equitable or criminal proceeding, litigation, action, suit, claim, investigation (governmental or judicial or otherwise, including receipt of any civil investigative demand letter or subpoena), dispute indictment or prosecution, pleading, demand or the imposition of any fine or penalty or similar matter.

"**<u>Proceeds</u>**" has the meaning given to such term in the UCC, including all Casualty Proceeds.

"**<u>Promissory Notes</u>**" means the notes in the form of <u>Exhibit D</u> attached hereto, delivered by Borrower to a Lender to evidence the loans made by such Lender to Borrower pursuant to this Agreement.

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"**<u>Property</u>**" means an interest of Parent or any Subsidiary in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

"**<u>PTE</u>**" means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

"**<u>Purchase Money Liens</u>**" means purchase money Liens or the interests of lessors under Capital Leases to the extent that such Liens or interests secure Permitted Purchase Money Indebtedness and so long as (a) such Lien attaches only to the asset financed by such Indebtedness and any additions, accessions, parts, attachments or improvements thereon or proceeds and products thereof and customary security; <u>provided</u> that individual financings provided by one lender may be cross-collateralized to other financings provided by such lender deposits and related property, and (b) such Lien only secures Permitted Purchase Money Indebtedness.

"**<u>Qualified Cash</u>**" means, as of any date of determination, the amount of unrestricted (other than customary account agreements and restrictions in favor of Agent and Lenders) cash and Cash Equivalents of the Credit Parties; <u>provided</u> that following the date that is 90 days following the Closing Date, any such cash to be included as Qualified Cash must be maintained in deposit accounts in the name of a Credit Party as of such date, which deposit accounts are subject to standard control agreements in favor of the Agent in a form reasonably acceptable to the Agent and the Required Lenders.

"**<u>Qualified Receivables Factoring</u>**" means any Factoring Transaction that meets the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;such Factoring Transaction is non-recourse to, and does not obligate, Borrower or any Subsidiary, or their respective properties or assets (other than Receivables Assets) in any way other than pursuant to Standard Securitization Undertakings,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all sales, conveyances, assignments and/or contributions of Receivables Assets by Borrower or any Subsidiary are made at fair market value in the context of a Factoring Transaction (as determined in good faith by Borrower), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;such Factoring Transaction (including financing terms, covenants, termination events (if any) and other provisions thereof) is on market terms at the time such Factoring Transaction is first entered into (as determined in good faith by Borrower) and may include Standard Securitization Undertakings.

The grant of a security interest in any accounts receivable of Borrower or any Subsidiary (other than a Receivables Subsidiary) to secure any Indebtedness issued in respect of a refinancing of the Initial Term Loans shall not be deemed a Qualified Receivables Factoring.

"**<u>Qualified Receivables Financing</u>**" means any Receivables Financing that meets the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all sales, conveyances, assignments and/or contributions of Receivables Assets by Borrower or any Subsidiary to any Receivables Subsidiary are made at fair market value in the context of a Receivables Financing (as determined in good faith by Borrower), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the financing terms, covenants, termination events and other provisions thereof shall be on market terms at the time such Receivables Financing is first entered into (as determined in good faith by Borrower) and may include Standard Securitization Undertakings.

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The grant of a security interest in any accounts receivable of Borrower or any Subsidiary (other than a Receivables Subsidiary) to secure any Indebtedness issued in respect of a refinancing of the Initial Term Loans shall not be deemed a Qualified Receivables Financing.

"**<u>Receivables Assets</u>**" means accounts receivable, revenue stream or other right of payment owed to Borrower or any Subsidiary (in each case, whether now existing or arising in the future) that are, or are in the process of becoming, subject to a Qualified Receivables Financing or Qualified Receivables Factoring, and any assets related thereto including, without limitation, all collateral securing such accounts receivable, revenue stream or other right of payment, all contracts and all guarantees or other payment support obligations (including, without limitation, letters of credit, promissory notes or trade credit insurance) in respect of such accounts receivable, revenue stream or other right of payment, proceeds of such accounts receivable, revenue stream or other right of payment and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with non-recourse, asset securitization or factoring transactions involving accounts receivable, revenue stream or other right of payment and any swap contracts entered into by Borrower or any such Subsidiary in connection with such accounts receivable, revenue stream or other right of payment.

"**<u>Receivables Fees</u>**" means distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Subsidiary in connection with, any Receivables Financing or Factoring Transaction.

"**<u>Receivables Financing</u>**" means any transaction or series of transactions that may be entered into by Borrower or any of its Subsidiaries pursuant to which Borrower or any of its Subsidiaries may sell, contribute, convey, assign or otherwise transfer Receivables Assets to (a) a Receivables Subsidiary (in the case of a transfer by Borrower or any of its Subsidiaries), and (b) any other Person (in the case of a transfer by a Receivables Subsidiary), which in either case, may include a backup or precautionary grant of security interest in such Receivables Assets so sold, contributed, conveyed, assigned or otherwise transferred.

"**<u>Receivables Repurchase Obligation</u>**" means (i) any obligation of a seller of receivables in a Qualified Receivables Factoring or Qualified Receivables Financing to repurchase receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, off-set or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller, or (ii) any right of a seller of receivables in a Qualified Receivables Factoring or Qualified Receivables Financing to repurchase defaulted receivables for the purposes of claiming sales tax bad debt relief.

"**<u>Receivables Subsidiary</u>**" means a wholly-owned Subsidiary of Borrower (or another Person formed for the purposes of engaging in a Qualified Receivables Financing with Borrower and/or one or more of its Subsidiaries (including, a special purpose securitization vehicle (or similar entity)) in which Borrower or any Subsidiary of Borrower or a direct or indirect parent of Borrower makes an Investment (or which otherwise owes to Borrower or one of its Subsidiaries any deferral of part of the purchase price of the Receivables Assets for the purpose of credit enhancement given under the Qualified Receivables Financing) and to which Borrower or any Subsidiary of Borrower or a direct or indirect parent of Borrower sells, conveys, assigns or otherwise transfers Receivables Assets (which may include a backup or precautionary grant of security interest in such Receivables Assets sold, conveyed, assigned or otherwise transferred or purported to be so sold, conveyed, assigned or otherwise transferred)) which engages in no activities other than in connection with the purchase, acquisition or financing of Receivables Assets of Borrower and its Subsidiaries or a direct or indirect parent of Borrower, all proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any business or activities incidental or related to such business, and which is designated by the board of directors (or other similar governing body) of Borrower as a Receivables Subsidiary, and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by Parent or any Subsidiary (other than a Receivables Subsidiary, excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates Parent or any Subsidiary (other than a

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Receivables Subsidiary) in any way other than pursuant to Standard Securitization Undertakings, or (iii) subjects any property or asset of Parent or any Subsidiary (other than a Receivables Subsidiary), directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;with which none of Borrower nor any Subsidiary (other than a Receivables Subsidiary) has any material contract, agreement, arrangement or understanding other than on terms which Borrower reasonably believes to be no less favorable to Borrower or such Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of Borrower, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;to which none of Borrower nor any Subsidiary has any obligation to maintain or preserve such entity's financial condition or cause such entity to achieve certain levels of operating results.

Any such designation by the board of directors (or other similar governing body) of Borrower shall be evidenced to Agent by filing with Agent a certified copy of the resolution of the board of directors (or other similar governing body) of Borrower giving effect to such designation and an officer's certificate certifying that such designation complied with the foregoing conditions.

"**<u>Recipient</u>**" means Agent and any Lender.

"**<u>Register</u>**" has the meaning given to such term in <u>Section 14.11(a)(v)</u>.

"**<u>Relevant Governmental Body</u>**" means the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto.

"**<u>Required Lenders</u>**" means those Lenders holding greater than fifty percent (50.0%) in the aggregate of the total outstanding principal amount of the Initial Term Loans; <u>provided</u>, that at any time there are two or more non-Defaulting Lenders that are not under common Control, "Required Lenders" must include at least two Lenders that are not under common Control. For purposes this definition, a Lender and its Approved Funds shall be considered under common Control. The Initial Term Loans of any Defaulting Lender shall be disregarded in determining Required Lenders.

"**<u>Requirements of Law</u>**" means, with respect to any Person, any law (statutory or common), ordinance, treaty, rule, regulation, order, policy, judgment, writ, injunction, decree, or other legal requirement or determination of an arbitrator or of a Government Authority, in each case applicable to or binding upon such Person or any of its Property or to which such Person or any of its Property is subject.

"**<u>Restricted Payment</u>**" means: (a) to declare or pay any cash dividend or make any other cash payment or distribution, directly or indirectly, on account of Equity Interests issued by any Person or to the direct or indirect holders of Equity Interests issued by such Person in their capacity as such; (b) to purchase, redeem, make any sinking fund or similar payment, or otherwise acquire or retire for value any Equity Interests issued by any Person or any claim respecting the purchase or sale of any Equity Interest in such Person; (c) to make any payment to retire, or to obtain the surrender of, any outstanding warrants, options, or other rights to acquire Equity Interests of any Person now or hereafter outstanding; (d) to make, or cause or suffer to permit any Person to make, any payment or prepayment of principal of, premium, if any, or interest on, or redemption, purchase, retirement, defeasance (including in-substance or legal defeasance), sinking fund or similar payment with respect to, any Subordinated Debt, any Indebtedness secured by a Lien on the Collateral on a junior basis to the Initial Term Loans or any

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Indebtedness that is unsecured; and (e) to make any redemption, prepayment (whether mandatory or optional), defeasance, repurchase or any other payment in respect of any earn out or similar obligations.

"**<u>S&P</u>**" means Standard & Poor's Rating Services, a Standard & Poor's Financial Services LLC business.

"**<u>Sanctions</u>**" means, collectively, any sanctions administered or enforced by OFAC, the U.S. Department of State, the UN Security Council, the European Union, Her Majesty's Treasury or other relevant sanctions authority.

"**<u>SEC</u>**" means the U.S. Securities and Exchange Commission or any governmental authority succeeding to any of its principal functions.

"**<u>Securities Act</u>**" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

"**<u>Senior Officer</u>**" means each of the Chief Financial Officer, Chief Executive Officer and Chief Operating Officer of any Credit Party.

"**<u>Short-Term Loan Prepayment</u>**" has the meaning given to such term in <u>Section 3.3(d)(ii)</u>.

"**<u>Short-Term Loans</u>**" means Initial Term Loans in an aggregate amount equal to $30,000,000.

"**<u>Specified Assets</u>**" of any Person means the assets of such Person, net of intangible assets and goodwill, but including intellectual property and proprietary rights.

"**<u>Standard Securitization Undertakings</u>**" means representations, warranties, covenants, indemnities and guarantees of performance entered into by Parent or any Subsidiary of Parent which Borrower has determined in good faith to be customary in a Factoring Transaction or Receivables Financing, including, without limitation, those relating to the servicing of the assets of a Receivables Subsidiary, it being understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking.

"**<u>Stock Election</u>**" has the meaning given to such term in <u>Section 5.1</u>.

"**<u>Stock Restriction Agreement</u>**" means that certain Stock Restriction and Voting Agreement in the form attached as Exhibit C to the Exchange Agreement.

"**<u>Stockholder Limit</u>**" has the meaning given to such term in <u>Section 5.1</u>.

"**<u>Subordinated Debt</u>**" means (a) with respect to Borrower, any Indebtedness of Borrower which is by its terms expressly subordinated in right of payment to the Obligations and (b) with respect to any Guarantor, any Indebtedness of such Guarantor which is by its terms expressly subordinated in right of payment to its Guarantee of the Obligations, in each case pursuant to a Subordination Agreement.

"**<u>Subordination Agreement(s)</u>**" means an intercreditor and/or subordination agreement in form and substance reasonably satisfactory to the Required Lenders and the Agent in their sole discretion by and among one or more of the Credit Parties, a subordinating creditor and Agent, on behalf of Lenders, pursuant to which Subordinated Debt, Indebtedness secured by a Lien on the Collateral on a junior basis to the Initial Term Loans or Indebtedness that is unsecured, if any, are subordinated to the prior payment and satisfaction of the Obligations and the Liens securing such Subordinated Debt, if any, granted by any Credit Party to such subordinated creditor are subordinated to the Liens created hereunder and under any other Loan Document.

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"**<u>Subsidiary</u>**" means, with respect to any Person, (a) any corporation of which an aggregate of more than fifty percent (50%) of the outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, capital stock of any other class or classes of such corporation shall have or might have voting power by reason of the happening of any contingency) is at the time, directly or indirectly, owned legally or beneficially by such Person or one or more Subsidiaries of such Person, or with respect to which any such Person has the right to vote or designate the vote of more than fifty percent (50%) of such capital stock whether by proxy, agreement, operation of law or otherwise and (b) any partnership or limited liability company in which such Person and/or one or more Subsidiaries of such Person shall have an interest (whether in the form of voting or participation in profits or capital contribution) of more than fifty percent (50%) or of which any such Person is a general partner or may exercise the powers of a general partner. Unless the context otherwise requires, each reference to a Subsidiary shall be a reference to a Subsidiary of Parent.

"**<u>Taxes</u>**" means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Government Authority, including any interest, additions to tax or penalties applicable thereto.

"**<u>Termination Date</u>**" means the date that (i) all Obligations have been Paid in Full and (ii) no Commitment or other obligation of any Lender to provide funds to Borrower pursuant to this Agreement remains outstanding.

"**<u>Total Revenues</u>**" means, as of any date of determination, the gross revenues of Parent and its Subsidiaries, determined on a consolidated basis in accordance with GAAP, as shown on the most recent income statement of Parent delivered pursuant to <u>Section 8.8(a)</u> or <u>(b)</u>.

"**<u>Total Specified Assets</u>**" means, as of any date of determination, the total Specified Assets of Parent and its Subsidiaries, on a consolidated basis in accordance with GAAP, as determined based on the most recent balance sheet of Parent delivered pursuant to <u>Section 8.8(a)</u> or <u>(b)</u>.

"**<u>Trademarks</u>**" means all of the Credit Parties' present and hereafter acquired trademarks, trademark registrations, recordings, applications, trade names, trade styles, corporate names, business names, service marks, logos and any other designs or sources of business identities, prints and labels (on which any of the foregoing may appear), all reissues and renewals thereof, all licenses thereof, all other general intangible, intellectual property and other rights pertaining to any of the foregoing, together with the goodwill associated therewith, and all income, royalties and other Proceeds of any of the foregoing.

"**<u>Transactions</u>**" means (i) the execution, delivery and performance by the Credit Parties of this Agreement and the other Loan Documents, the borrowing of the Initial Term Loan on the Closing Date, and the use of the proceeds thereof, (ii) the consummation of the Exchange (as defined in the Exchange Agreement) and the other transactions contemplated under the Exchange Agreement, (iii) the termination and cancellation in full of all existing Indebtedness of the Credit Parties and their Subsidiaries contemplated by <u>Section 4.1(j)</u>, and (iv) the payment of fees and expenses in connection with the transactions contemplated by <u>clauses (i)</u> through <u>(iii)</u>.

"**<u>Transfer Agent</u>**" means Continental Stock Transfer & Trust Company and any successor transfer agent of the Borrower.

"**<u>Treasury Rate</u>**" means, as of the date of any repayment, prepayment, refinancing, replacement or acceleration of the Initial Term Loans, the rate per annum equal to the yield to maturity at the time of computation of the United States Treasury securities with a constant maturity as compiled and published

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in the most recent Federal Reserve Statistical Release H 15 (519) that has become publicly available at least two (2) Business Days prior to such time (or, if such statistical release is no longer published, any publicly available source of similar market data) most nearly equal to the period from such date to the twenty four (24) month anniversary of the Closing Date; <u>provided</u>, <u>however</u>, that if the period from such date to the twenty four (24) month anniversary of the Closing Date is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used.

"**<u>UCC</u>**" means the Uniform Commercial Code as the same may be amended and in effect from time to time in the State of New York; <u>provided</u> that if by reason of mandatory provisions of law, the perfection or the effect of perfection or non-perfection of the security interests in any Collateral or the availability of any remedy hereunder is governed by the Uniform Commercial Code as in effect on or after the date hereof in any other jurisdiction, "UCC" means the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such perfection or effect of perfection or non-perfection or availability of such remedy.

"**<u>U.S. Person</u>**" means any Person that is a "United States person" as defined in Section 7701(a)(30) of the Code.

"**<u>U.S. Tax Compliance Certificate</u>**" has the meaning set forth in <u>Section 5.6(f)(ii)(C)</u>.

"**<u>Weighted</u> <u>Average</u> <u>Life</u> <u>to</u> <u>Maturity</u>**" means, when applied to any Indebtedness, the number of years (and/or portion thereof) obtained by dividing: (a) the sum of the products obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect of such Indebtedness, by (ii) the number of years (calculated to the nearest one- twelfth) that will elapse between such date and the making of such payment; by (b) the then outstanding principal amount of such Indebtedness.

"**<u>Withholding Agent</u>**" means Borrower and Agent.

"**<u>Working Capital Balance</u>**" means, as of any date of determination, the sum of the consolidated cash and consolidated accounts receivable balances of Parent and its Subsidiaries, determined as of the most recently ended fiscal quarter for which financial statements have been (or are required to be) delivered pursuant to <u>Section 8.8(a)</u> or <u>(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Terms Generally; Construction</u>**. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words "include," "includes" and "including," when used in any Loan Document, shall be deemed to be followed by the phrase "without limitation." The word "will," when used in any Loan Document, shall be construed to have the same meaning and effect as the word "shall." Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments, restatements, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person's successors and assigns, (c) the words "herein," "hereof" and "hereunder," and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (e) the words "asset" and "property" shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights, (f) the following

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terms are used herein as defined in Article 9 of the UCC: Certificated Security, Chattel Paper, Documents, Electronic Chattel Paper, Instruments, Letter of Credit Rights, Payment Intangibles and Supporting Obligations, and (g) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time. Any reference herein or in any other Loan Document to the satisfaction, repayment, or payment in full of the Obligations (including the phrase "**<u>Paid in Full</u>**," "**<u>Payment in Full</u>**" or "**<u>Payable in Full</u>**") means (a) the payment or repayment in full in immediately available funds of (i) the principal amount of, and interest accrued and unpaid with respect to, all outstanding Loans, together with the payment of any Prepayment Premium applicable to the repayment of the Loans, (ii) all Out-of-Pocket Expenses that have accrued and are unpaid regardless of whether demand has been made therefor, (iii) all fees or charges that have accrued hereunder or under any other Loan Document and are unpaid, (b) the payment or repayment in full in immediately available funds of all other outstanding Obligations other than unasserted contingent indemnification and reimbursement Obligations and (c) the termination of all of the Commitments of Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;Accounting Terms; GAAP</u>**. Notwithstanding any other provision contained herein or any other Loan Document, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election under Statement of Financial Accounting Standards 159 (or any other Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of any Credit Party or any subsidiary of any Credit Party at "fair value," as defined therein. Unless otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder (including determinations made pursuant to the exhibits hereto) shall be made, and all financial statements required to be delivered hereunder shall be prepared on a consolidated basis in accordance with GAAP applied on a consistent basis. If at any time any change in GAAP would affect the computation of any financial ratio or financial requirement set forth in any Loan Document, and either Borrower or Required Lenders shall so request, Agent, Lenders and Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of Required Lenders); <u>provided</u>, <u>however</u>, that until so amended, (a) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (b) Borrower shall provide to Agent and Lenders financial statements and other documents required under this Agreement which include a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. Notwithstanding (a) any other provision contained herein or any other Loan Document and (b) the effectiveness of any changes in GAAP from time to time (including, without limitation, prior to the Closing Date), any lease that would have been characterized as an operating lease under GAAP prior to the effectiveness of ASC 842 shall not constitute a Capital Lease under this Agreement or any other Loan Document, unless otherwise agreed to in writing by Borrower and Agent. All amounts used for purposes of financial calculations required to be made herein shall be without duplication.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.4.<u>&nbsp;&nbsp;&nbsp;&nbsp;Timing of Payment or Performance</u>**. Except as otherwise expressly provided herein, when the payment of any obligation or the performance of any covenant, duty, or obligation is stated to be due or performance required on (or before) a day which is not a Business Day, the date of such payment or performance shall extend to the immediately succeeding Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.5.<u>&nbsp;&nbsp;&nbsp;&nbsp;Divisions</u>**. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction's laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to

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have been organized and acquired on the first date of its existence by the holders of its Equity Interests at such time.

**SECTION 2.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>[Reserved]</u>**

**SECTION 3.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Initial Term Loan</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Promissory Notes Evidencing Initial Term Loan</u>**. If any Lender elects to evidence any Initial Term Loan with a Promissory Note, Borrower agrees to execute and deliver to such Lender a Promissory Note to evidence the Pro Rata Percentage of such Initial Term Loan to be extended to Borrower by such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Funding of Initial Term Loan</u>3.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>**. Upon the satisfaction or waiver of the conditions set forth in <u>Section 4.1</u>, each Lender (severally and not jointly) agrees to advance (or be deemed to have advanced) to Borrower an Initial Term Loan in the amount of such Lender's Initial Term Loan Commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;Repayment and Prepayment of Initial Term Loans.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Repayment of Initial Term Loans</u>**. Borrower shall repay the outstanding principal amount of (i) the Initial Term Loans (other than the Short-Term Loans) in full on the Maturity Date to the extent not previously repaid and (ii) the Short-Term Loans in full in accordance with <u>Section 3.3(d)(ii)</u>. Any portion of the Initial Term Loan which is repaid or prepaid by Borrower, in whole or in part, may not be reborrowed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Repayment Upon Termination; Prepayment Premium</u>**. In the event this Agreement is terminated in accordance with its respective terms by Agent, Required Lenders or any Credit Party for any reason whatsoever, or upon acceleration of the Obligations in accordance with the terms of this Agreement, all Obligations, including all Initial Term Loans and all accrued interest thereon, as well as any Prepayment Premium (such Prepayment Premium, for the avoidance of doubt, and without limitations, being due and payable upon acceleration of the Obligations, including acceleration following an Event of Default and including acceleration pursuant to <u>Section 11.2</u>) with respect to the outstanding Initial Term Loan balance, in each case in existence immediately prior to such termination or such acceleration, shall be due and Payable in Full on the effective date of such termination or such acceleration, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Optional Prepayments; Prepayment Premium</u>**. Borrower may from time to time, on at least three (3) Business Days' prior delivery to Agent of written notice, prepay the Initial Term Loan at any time, in part or, subject to the terms and provisions of <u>Section 3.3(b)</u>, in whole; <u>provided</u> that (i) any such partial prepayment shall be in an amount equal to $100,000 or a higher integral multiple of $25,000 (other than in the case of a prepayment in full of the Initial Term Loan), (ii) on the date of any such prepayment, there shall be due and payable (x) accrued interest on the principal so prepaid to the date of such prepayment, and (y) a Prepayment Premium (if any) with respect to the amount of the Initial Term Loan (other than the Short-Term Loans) prepaid.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Mandatory Prepayments</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Dispositions</u>. Except as set forth below, Borrower shall prepay the Initial Term Loans as hereinafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds received by Parent or any Subsidiary from any Disposition made pursuant to <u>clause (l)</u> of the definition of "Permitted Dispositions" within fifteen (15) Business Days of receipt thereof (each such prepayment to be applied as set forth in <u>Section 3.3(e)</u>). Notwithstanding the foregoing: (1) Borrower shall not be obligated to prepay the Initial Term Loans pursuant to this <u>Section 3.3(d)(i)</u> until the aggregate amount of Net Cash Proceeds from all Dispositions made pursuant to <u>clause (l)</u> of the definition of "Permitted Dispositions" to the extent not previously applied to prepay the Initial Term Loans exceeds $25,000,000, and thereafter only the amount of such Net Cash Proceeds in excess of $25,000,000 shall be required to be applied as a prepayment in accordance with <u>Section 3.3(e)</u>; and (2) Borrower may use a portion of the Net Cash Proceeds received from such Disposition to prepay or repurchase any other Indebtedness that is pari passu in right of payment and security with the Initial Term Loans to the extent such other Indebtedness and the Liens securing the same are permitted hereunder and the documentation governing such other Indebtedness requires such a prepayment or repurchase thereof with the proceeds of such Disposition, to the extent not deducted in the calculation of Net Cash Proceeds, in each case in an amount not to exceed the product of (x) the amount of such Net Cash Proceeds and (y) a fraction, the numerator of which is the outstanding principal amount of such other Indebtedness (or to the extent such amount is not in Dollars, such equivalent amount of such Indebtedness converted into Dollars) and the denominator of which is the aggregate outstanding principal amount of Initial Term Loans and such other Indebtedness (or to the extent such amount is not in Dollars, such equivalent amount of such Indebtedness converted into Dollars); <u>provided</u>, that if any creditor in respect of such other Indebtedness that is pari passu in right of payment and security with the Initial Term Loans declines, waives, or otherwise fails to accept its pro rata share of Net Cash Proceeds received from any Disposition, then the portion of such Net Cash Proceeds shall instead be applied to the prepayment of the then outstanding Initial Term Loans. Notwithstanding anything to the contrary herein, no Prepayment Premium (if any) shall be payable with respect to any portion of the Initial Term Loans prepaid pursuant to this <u>Section 3.3(d)(i)</u>. The Borrower shall provide the Agent three (3) Business Days' prior written notice of any mandatory prepayment due under <u>Section 3.3(d)(i)</u> and specifying the amount of such prepayment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;<u>Short-Term Loans</u>. Borrower shall prepay the outstanding principal amount of the Short-Term Loans as hereinafter provided in two installments representative of equal principal amounts (each such installment, a "**<u>Short-Term Loan Prepayment</u>**") on November 24, 2025 and February 16, 2026 (each such date, a "**Prepayment Date**"). The cash amount payable on each such Short-Term Loan Prepayment shall be an amount equal to (a) if the Prepayment Date VWAP Price is greater than or equal to the Floor VWAP Price, $15,000,000 and (b) if the Prepayment Date VWAP Price is less than the Floor VWAP Price, the product of (i) the quotient of the Prepayment Date VWAP Price divided by the Floor VWAP Price, multiplied by (ii) $15,000,000 (such amount, in each case, to be equitably adjusted to reflect any stock split, reverse stock split, stock dividend, combination, reclassification or similar transaction affecting the Common Stock occurring after the determination of the applicable VWAP and prior to the corresponding Prepayment Date). Notwithstanding the foregoing, (a) if the cash amount payable in respect of any Short-Term Loan Prepayment determined in accordance with this <u>Section 3.3(d)(b)</u> is less than $15,000,000, the Lenders agree that the corresponding $15,000,000 principal installment shall be deemed prepaid in full upon payment of such lesser amount and (b) no Prepayment Premium (if any) shall be payable with respect to any portion of the Short-Term

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Loans prepaid pursuant to this <u>Section 3.3(d)(ii)</u>. On each such Prepayment Date, the Borrower shall provide the Agent (for distribution to the Lenders) with its calculation of the foregoing amount of each Short-Term Prepayment, including reasonable detail of the Prepayment Date VWAP Price and related calculations as a result thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Application of Prepayments</u>**. Each payment pursuant to <u>Section 3.3(c)</u> shall be applied to the outstanding principal amount of the Initial Term Loan as directed by Borrower. Each prepayment pursuant to <u>Section 3.3(d)(i)</u> shall be applied to the outstanding principal amount of the Initial Term Loan (other than the Short-Term Loans) until Paid in Full. Each prepayment pursuant to <u>Section 3.3(d)(ii)</u> shall be applied to the outstanding principal amount of the Short-Term Loans in accordance with <u>Section 3.3(d)(ii)</u>.

**SECTION 4.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Conditions Precedent</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Conditions Precedent to Initial Funding</u>**. Subject to <u>Section 4.2</u>, the obligations of Agent and Lenders to consummate the Transactions and for the Lenders to make the Initial Term Loans are subject to the reasonable satisfaction (or waiver in accordance with <u>Section 14.15</u>) of the following conditions precedent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Loan Documents</u>**. Agent (or its counsel) and Lenders (or their counsel) shall have received (i) from each party hereto a counterpart of this Agreement signed on behalf of such party and (ii) duly executed copies of the Loan Documents and such other certificates, documents, instruments and agreements as Agent or the Required Lenders shall reasonably request in connection with the transactions contemplated by this Agreement and the other Loan Documents, including any original promissory notes requested by a Lender pursuant to <u>Section 3.1</u> payable to each such requesting Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Lien Searches</u>**. Agent and Lenders shall have received tax lien, judgment lien and UCC searches from all jurisdictions reasonably required by the Required Lenders, and such searches shall verify that Agent, for its benefit and the benefit of the Lenders, will have, upon the repayment of the Indebtedness described in <u>Section 4.1(j)</u> below, a first priority security interest in the Collateral, subject to Permitted Encumbrances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Intellectual Property</u>**. Agent and Lenders shall have received searches of ownership of Intellectual Property in the appropriate United States governmental offices and such patent/trademark/copyright filings, including Intellectual Property security agreements, as requested by the Required Lenders in order to perfect Agent's security interest in the Intellectual Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**<u>UCC Filings</u>**. All UCC financing statements and similar documents required to be filed in order to create in favor of Agent, for its benefit and the benefit of the Lenders, a first priority perfected security interest in the Collateral (to the extent that such a security interest may be perfected by a filing under the UCC or applicable Law), subject to Permitted Encumbrances and the Perfection Exceptions, shall have been properly filed in each office in each jurisdiction reasonably required and Agent shall have received evidence that all necessary filing fees, taxes and other expenses related to such filings have been paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Resolutions</u>**. Agent and Lenders shall have received a copy of resolutions of the governing body of each Credit Party authorizing the execution, delivery and performance of the Loan Documents to be executed by each Credit Party, certified by an authorized representative of each such

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Credit Party as of the date hereof, together with a certificate of such Secretary or Assistant Secretary (or other Authorized Person) as to the incumbency and signature of the officer(s) executing the Loan Documents on behalf of each Credit Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Organizational Documents</u>**. Agent and Lenders shall have received a copy of the formation documents (or foreign equivalent) of each Credit Party, certified by the applicable authority in each Credit Party's jurisdiction of formation, and copies of the other Organizational Documents as amended through the date hereof of each Credit Party, certified by an authorized representative of such Credit Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Officer's Certificate</u>**. Agent and Lenders shall have received an executed certificate of an Authorized Person of Borrower, reasonably satisfactory in form and substance to Agent and the Required Lenders, certifying that as of the Closing Date (i) the representations and warranties contained herein are true and correct in all material respects (except that (x) 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 (y) any representations and warranties that specifically refer to an earlier date shall be true and correct in all material respects as of such earlier date) and (ii) no Default or Event of Default has occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Financial Statements; Other Information</u>**. Agent and Lenders shall have received such reports, certifications, and other operational information required to be delivered under this Agreement or otherwise reasonably required by the Required Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Opinions</u>**. Agent and Lenders shall have received a written opinion (addressed to Agent and Lenders and dated the Closing Date) of counsel and any applicable local counsel for the Credit Parties, in form and substance reasonably acceptable to Agent and the Required Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Payoff Letters; Releases</u>**. Agent and Lenders shall have received payoff letters relating to the termination and cancellation in full of all existing Indebtedness of the Credit Parties and their Subsidiaries (other than Indebtedness permitted to exist pursuant to <u>Section 10.2</u>) and releases from all Persons, if any, having a security interest or other interest in the Collateral (excluding Permitted Encumbrances), together with all UCC-3 terminations or partial releases necessary to terminate each such Person's interest (other than Permitted Encumbrances) in the Collateral, in each case under this <u>clause (j)</u> in form and substance reasonably satisfactory to the Required Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Fees; Expenses</u>.** Agent and Lenders shall have received payment in full of all fees and expenses payable to it by Borrower or any other Person required pursuant to <u>Section 5.4</u> (to the extent invoiced at least one (1) Business Day (or such later time as agreed by Borrower) prior to the Closing Date) on or before disbursement of the Initial Term Loans hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Exchange</u>.** The Exchange shall have been consummated or, substantially concurrently with the initial borrowing under this Agreement, shall be consummated, in all material respects in accordance with the terms of the Exchange Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Solvency</u>.** Agent and Lenders shall have received a solvency certificate executed by the Chief Financial Officer or other officer with a similar title of Borrower substantially in the form attached hereto as <u>Exhibit H</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;**<u>PATRIOT Act; Beneficial Ownership Certification</u>.** Parent and Borrower shall have provided the documentation and other information reasonably requested in writing at least ten

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(10) Business Days prior to the Closing Date by Agent or any Lender as it reasonably determines is required by regulatory authorities under applicable "know your customer" and anti-money laundering rules and regulations, including, without limitation, the PATRIOT Act, a duly executed W-9 tax form (or such other applicable IRS tax form), and a Beneficial Ownership Certification in relation to Borrower and each Guarantor, in each case at least three (3) Business Days prior to the Closing Date (or such shorter period as Agent and the Lenders shall otherwise agree).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Borrowing Request</u>.** The Borrower shall have delivered to the Agent and the Lenders a borrowing request reflecting the borrowing of the Initial Term Loans.

Upon the execution of this Agreement and the initial disbursement (or deemed disbursement) of the initial loans hereunder, all of the above conditions precedent shall have been deemed satisfied or waived, except as Borrower and Agent shall otherwise agree in a separate writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Post-Closing Requirements</u>.** Borrower shall complete each of the post-closing obligations and/or provide to Agent each of the documents, instruments, agreements and information listed on <u>Schedule 4.2</u> attached hereto on or before the date set forth for each such item thereon or such later date as Agent may agree in writing in its reasonable discretion (unless otherwise objected to by the Required Lenders), each of which shall be completed or provided in form and substance reasonably satisfactory to Agent and the Required Lenders.<u>; provided that, notwithstanding anything to the contrary set forth in Schedule 4.2, the deadline for item 3 thereof shall be fifteen (15) days after the Amendment No. 1 Effective Date or such later date as Agent may agree in writing in its reasonable discretion (unless otherwise objected to by the Required Lenders), which shall be completed or provided in form and substance reasonably satisfactory to Agent and the Required Lenders.</u>

**SECTION 5.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Interest, Fees and Expenses.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Interest on Loans</u>**. From and following the Closing Date, (i) the outstanding Loans (other than the Short-Term Loans) shall bear interest at the Applicable Rate and (ii) the outstanding Short-Term Loans shall not bear interest at any rate or in any form. Interest on the Loans (other than the Short-Term Loans) shall be paid in cash in arrears on each Interest Payment Date and on the maturity of such Loans, whether by acceleration or otherwise; <u>provided</u> that, for any Interest Payment Date occurring on or prior to November 14, 2026, Borrower may elect (each such election, a "**<u>Stock Election</u>**"), in its sole discretion, upon written notice to Agent at least six (6) Business Days prior to the applicable Interest Payment Date, to pay all or a portion of such interest in shares of Common Stock (the "**<u>Interest Shares</u>**"). Upon receipt of such written notice from the Borrower, Agent shall promptly provide a copy of such written notice to the Lenders. If a Stock Election is made, each Lender shall subscribe for, and Parent shall issue, Interest Shares in an amount equal to the quotient of (i) the amount of interest in respect of such interest period otherwise payable in cash and (ii) a price per share equal to the volume-weighted average price per share of the Common Stock for the thirty (30) consecutive trading days immediately preceding (but not including) the applicable Interest Payment Date, as reported on NYSE (or such other national exchange on which the Common Stock is then listed). On each such Interest Payment Date of which a Stock Election has been made, the Borrower shall provide the Agent (for distribution to the Lenders) with its calculation of the foregoing amount of Interest Shares, including reasonable detail and related calculations as a result thereof. Notwithstanding anything in this Agreement to the contrary, (i) the Default Rate of Interest, if applicable, shall at all times be payable on demand, in cash and (ii) the total number of Interest Shares issued to, and subscribed for by, the Lenders pursuant to this <u>Section 5.1</u>, combined with the Warrant Shares (as defined in the Exchange Agreement) issued pursuant to the

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Exchange Agreement, shall not exceed 19.99% of the number of shares of Common Stock issued and outstanding on the date of execution of the Exchange Agreement (the "**<u>Stockholder Limit</u>**"), and no Stock Election shall be permitted to the extent such Stock Election shall cause the Stockholder Limit to be exceeded, unless Borrower or Parent has first obtained the required stockholder approval of the issuance of more than such number of shares pursuant to the stockholder approval rules of the NYSE, including Section 312.03 of the NYSE Listed Company Manual. Borrower or Parent shall cause the Interest Shares to be credited to book-entry accounts maintained by the Transfer Agent, registered in the name of each Lender or in such nominee name(s) as designated by a Lender in accordance with instructions provided by such Lender at least five (5) Business Days prior to the applicable Interest Payment Date; <u>provided</u> that, for the avoidance of doubt, following a Stock Election, the Borrower or Parent crediting the Interest Shares to the book-entry accounts maintained by the Transfer Agent after the Interest Payment Date shall not constitute a Default or Event of Default under <u>Section 11.1(a)</u> in respect of any payment to be made on such Interest Payment Date. By receiving Interest Shares, the Lender acknowledges and agrees that the Interest Shares are "Shares" for purposes of the Stock Restriction Agreement. In the event that the Borrower has chosen a Stock Election, then on each applicable Interest Payment Date, the Borrower and Lenders shall provide to the Agent written evidence of the issuance and transfer of the Interest Shares to the Lenders and confirm in writing that the interest that would have been due and payable on such applicable Interest Payment has been deemed paid through the issuance of the Interest Shares. Upon receipt of such confirmation, then the Agent will update the Register to reflect a cashless payment of interest on such applicable Interest Payment Date. Notwithstanding the foregoing, the Borrower and Lenders agree that the Agent shall not (i) be involved in the issuance or transfer of the Interest Shares to the Lenders; and (ii) responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Stock Election, Interest Shares and the Stockholder Limit. Interest on all other Obligations (other than the Short-Term Loans) shall be payable upon demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Default Interest Rate</u>**. Upon the occurrence and during the continuation of an Event of Default (other than under <u>Section 11.1(h)</u>), all Obligations may, at the election of Agent (at the written direction of the Required Lenders) or Required Lenders (with written notice of such election to the Agent), bear interest (since the date of the occurrence of such Event of Default) at the Default Rate of Interest until such Event of Default is waived in writing by Agent and Required Lenders, and upon the occurrence of an Event of Default under <u>Section 11.1(h)</u>, all Obligations shall automatically bear interest (since the date of the occurrence of such Event of Default) at the Default Rate of Interest until such Event of Default is waived in writing by Agent and Required Lenders. Interest accruing at the Default Rate of Interest shall be payable upon demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;Computation of Interest and Related Fees</u>**. All interest and fees under each Loan Document shall be calculated on the basis of a three hundred sixty (360) day year for the actual number of days elapsed. The date of funding of a Loan and the date of repayment of a Loan (including, without limitation, the Maturity Date) shall be included in the calculation of interest; <u>provided</u>, <u>however</u>, that if a Loan is repaid on the same day that it is made, one (1) day's interest shall be charged.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4.<u>&nbsp;&nbsp;&nbsp;&nbsp;Fees; Out-of-Pocket Expenses</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Fees</u>. The Borrower agrees to pay to the Agent such other fees in the amounts and at the times separately agreed upon under the Agent Fee Letter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Out-Of-Pocket Expenses</u>. The Credit Parties, jointly and severally, agree to reimburse Agent and the Lenders for all Out-of-Pocket Expenses charged to, incurred or paid by Agent and the Lenders. The agreements in this <u>Section 5.4(b)</u> shall survive the termination of this Agreement and the other Loan Documents, the repayment of the Loans and the Obligations and the resignation of the Agent.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5.<u>&nbsp;&nbsp;&nbsp;&nbsp;Capital Adequacy; Increased Costs Generally</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In the event that any Lender, subsequent to the Closing Date, determines in the exercise of its reasonable business judgment that any Change in Law affecting such Lender or any lending office of such Lender regarding capital or liquidity requirements has or would have the effect of materially reducing the rate of return on such Lender's capital as a consequence of its obligations hereunder to a level materially below that which such Lender could have achieved but for such change or compliance (taking into consideration such Lender's policies with respect to capital adequacy) by an amount deemed material by such Lender in the exercise of its reasonable business judgment, Borrower agrees to pay to such Lender, no later than five (5) Business Days following demand by such Lender, such additional amount or amounts as will compensate such Lender for such material reduction in rate of return. In determining such amount or amounts, such Lender may use any reasonable averaging or attribution methods. The protection of this <u>Section 5.5(a)</u> shall be available to any Lender regardless of any possible contention of invalidity or inapplicability with respect to the applicable Law, regulation or condition. A certificate of a Lender setting forth such amount or amounts as shall be necessary to compensate such Lender with respect to this <u>Section 5.5(a)</u> and the calculation thereof, when delivered to Borrower, shall be conclusive and binding on Borrower absent manifest error. In the event a Lender exercises its rights pursuant to this <u>Section 5.5(a)</u>, and subsequent thereto determines that the amounts paid by Borrower exceeded the amount which such Lender actually required to compensate such Lender for any material reduction in rate of return on its capital, such excess shall be returned to Borrower by such Lender. Failure or delay on the part of any Lender to demand compensation pursuant to this <u>Section 5.5</u> shall not constitute a waiver of such Lender's right to demand such compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If any Change in Law shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;subject Agent or any Lender to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;impose on any Lender any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Lender or participation in any such Loan;

and the result of any of the foregoing shall be to materially increase the cost to Agent or such Lender of making, converting to, continuing or maintaining any Loan or of maintaining its obligation to make any such Loan, or to reduce the amount of any sum received or receivable by Agent or such Lender hereunder (whether of principal, interest or any other amount) then, upon request of Agent or such Lender, Borrower will pay to Agent or such Lender, as the case may be, such additional amount or amounts as will compensate Agent or such Lender, as the case may be, for such material additional costs incurred or reduction suffered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Borrower shall not be required to compensate Agent or any Lender pursuant to this <u>Section 5.5</u> for any increased costs incurred or reductions suffered more than 270 days prior to the date that Agent or such Lender, as the case may be, notifies Borrower of the Change in Law giving rise to such increased costs or reductions, and of Agent's or such Lender's intention to claim compensation therefor

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(except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 270-day period referred to above shall be extended to include the period of retroactive effect thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6.<u>&nbsp;&nbsp;&nbsp;&nbsp;Taxes.</u>**

For the purposes of this Section 5.6, the term "Applicable Law" includes FATCA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Payments Free of Taxes</u>**. Any and all payments by or on account of any obligation of the Credit Parties under any Loan Document shall be made free and clear of and without deduction or withholding for any Taxes, except as required by applicable Law. If any applicable Law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Government Authority in accordance with applicable Law and, if such Tax is an Indemnified Tax, then the sum payable by the Credit Parties shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Payment of Other Taxes by Borrower</u>**. Borrower shall timely pay (or cause to be paid) to the relevant Government Authority in accordance with applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Indemnification by Borrower</u>**. Borrower shall indemnify Agent and each Lender, within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by Agent or such Lender, as the case may be, or required to be withheld or deducted from a payment to Agent or such Lender and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Government Authority. A certificate as to the amount of such payment or liability delivered to Borrower by a Lender or by Agent, on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Indemnification by the Lenders</u>**. Each Lender shall severally indemnify Agent, within ten (10) days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that Borrower has not already indemnified Agent for such Indemnified Taxes and without limiting the obligation of Borrower to do so), (ii) any Taxes attributable to such Lender's failure to comply with the provisions of <u>Section 14.11(b)</u> relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Government Authority. A certificate as to the amount of such payment or liability delivered to any Lender by Agent shall be conclusive absent manifest error. Each Lender hereby authorizes Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by Agent to the Lender from any other source against any amount due to Agent under this paragraph (d).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Evidence of Payments</u>**. As soon as practicable after any payment of any Taxes by Borrower to a Government Authority, Borrower shall deliver to Agent the original or a certified copy of a receipt issued by such Government Authority evidencing such payment, a copy of the return

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reporting such payment or other evidence of such payment reasonably satisfactory to Agent and the Required Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Status of Lenders</u>**. Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments under this Agreement shall deliver to Borrower (with a copy to Agent), at the time or times reasonably requested by Borrower or Agent, such properly completed and executed documentation reasonably requested by Borrower or Agent as will permit such payments to be made without withholding or at a reduced rate. In addition, any Lender, if reasonably requested by Borrower or Agent, shall deliver such other documentation prescribed by applicable Law or reasonably requested by Borrower or Agent as will enable Borrower or Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in paragraphs (f)(i), (ii) and (iv) of this Section) shall not be required if in the applicable Lender's reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. Without limiting the generality of the foregoing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any Lender that is a U.S. Person shall deliver to Borrower and Agent on or about the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Borrower or Agent), duly completed copies of Internal Revenue Service Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding Tax,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any Lender that is not a U.S. Person shall, to the extent it is legally entitled to do so, deliver to Borrower and Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Borrower or Agent), whichever of the following is applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed copies of Internal Revenue Service Form W-8BEN or Internal Revenue Service Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "interest" article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, Internal Revenue Service Form W-8BEN or Internal Revenue Service Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "business profits" or "other income" article of such tax treaty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;executed copies of Internal Revenue Service Form W-8ECI;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a Lender claiming the benefits of the exemption for portfolio interest under section 881(c) of the Code, (x) a certificate to the effect that such Lender is not (A) a "bank" within the meaning of section 881(c)(3)(A) of the Code, (B) a "10 percent shareholder" of Borrower within the meaning of section 871(h)(3)(B) of the Code, or (C) a "controlled foreign corporation" described in section 881(c)(3)(C) of the Code (a "**<u>U.S. Tax Compliance</u>**

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**<u>Certificate</u>**") and (y) duly completed copies of Internal Revenue Service Form W-8BEN or Internal Revenue Service Form W-8BEN-E; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;to the extent a Lender is not the beneficial owner, executed copies of Internal Revenue Service Form W-8IMY, accompanied by Internal Revenue Service Form W-8ECI, Internal Revenue Service Form W-8BEN, Internal Revenue Service Form W 8BEN-E, a U.S. Tax Compliance Certificate, Internal Revenue Service Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Lender is a partnership and one or more direct or indirect partners of such Lender are claiming the portfolio interest exemption, such Lender may provide a U.S. Tax Compliance Certificate on behalf of each such direct and indirect partner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;any Lender that is not a U.S. Person shall, to the extent it is legally entitled to do so, deliver to Borrower and Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Borrower or Agent), executed copies of any other form prescribed by applicable Law that is requested by Borrower as a basis for claiming exemption from or a reduction in U.S. federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable Law to permit Borrower to determine the withholding or deduction required to be made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to Borrower and Agent at the time or times prescribed by Law and at such time or times reasonably requested by Borrower or Agent such documentation prescribed by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by Borrower or Agent as may be necessary for Borrower and Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender's obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (iv), "FATCA" shall include any amendments made to FATCA after the date of this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;upon written request by the Borrower, the Agent, and any successor or supplemental Agent, shall deliver to the Borrower (in such number of copies as shall be requested by the recipient) on or prior to the date on which the Agent becomes the administrative agent hereunder or under any other Loan Document (and from time to time thereafter upon the reasonable request of the Borrower) properly completed and duly executed copies of IRS Form W-9.

Each Lender and Agent agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify Borrower and Agent (as applicable) in writing of its legal inability to do so.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Treatment of Certain Refunds</u>**. If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section (including by the payment of additional amounts pursuant to this Section), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including taxes) of such indemnified party and without interest (other than any interest paid by the relevant Government Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (plus any penalties, interest or other charges imposed by the relevant Government Authority) in the event that such indemnified party is required to repay such refund to such Government Authority. Notwithstanding anything to the contrary in this paragraph, in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph the payment of which would place the indemnified party in a less favorable net after-tax position than the indemnified party would have been in if the tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such tax had never been paid. This paragraph shall not be construed to require any indemnified party to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the indemnifying party or any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Survival</u>**. The obligations of the Credit Parties and the Lenders under <u>Section 5.6</u> shall survive the termination of this Agreement and the other Loan Documents, the repayment of the Loans and the Obligations and the resignation of the Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7.<u>&nbsp;&nbsp;&nbsp;&nbsp;Obligations Absolute</u>**. Except as otherwise provided in this <u>Section 5</u>, all payments by any Credit Party of principal, interest, fees and other Obligations shall be made in Dollars in immediately available funds, and shall be absolute and unconditional, without defense, rescission, recoupment, setoff or counterclaim, free of any restriction or condition, and delivered to Agent, for the account of Lenders, not later than 2:00 p.m. (Eastern Time) on the date due.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.8.<u>&nbsp;&nbsp;&nbsp;&nbsp;Mitigation Obligations</u>**. If any Lender requests compensation under <u>Section 5.5</u>, or if any Credit Party is required to pay any additional amount to any Lender or any Government Authority for the account of any Lender pursuant to <u>Section 5.6</u>, then, upon the written request of Borrower, such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder (subject to the provisions of <u>Section 14.11</u>) to another of its offices, branches or Affiliates, if, in the sole judgment of such Lender, such designation or assignment (i) would eliminate or materially reduce amounts payable pursuant to any such Section, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender (as determined in its sole discretion). Upon such designation or assignment, the Lender shall provide written notice to the Agent of such Lender's new lending office. Without limitation of the provisions of <u>Section 11.5</u>, Borrower hereby agrees to pay all costs and expenses incurred by any Lender in connection with any such designation or assignment.

**SECTION 6.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Collateral</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Grant of Security Interests</u>**. As security for the performance and prompt payment in full in cash of all Obligations, each Domestic Credit Party hereby pledges and grants to Agent, for its benefit and for the benefit of Lenders, a first-priority (except for the Permitted Encumbrances) continuing general Lien upon, and security interest in, all of the following now owned and hereafter acquired

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Property in which such Domestic Credit Party has rights or the power to transfer rights (collectively, the "**<u>Collateral</u>**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all Accounts, accounts receivable, notes receivable, contract rights, chattel paper (including electronic chattel paper), documents (including Documents of Title), instruments and letters of credit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all Goods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all Inventory;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all General Intangibles (including Payment Intangibles and Software, patents, trademarks, tradestyles, copyrights, and all other intellectual property rights, including all applications, registration, and licenses therefor, and all goodwill of the business connected therewith or represented thereby);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;all Equipment (including all software, whether or not the same constitutes embedded software, used in the operation thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all Deposit Accounts, securities accounts, investment accounts, commercial paper, investment securities, and certificates of deposit, of every nature, wherever located, and all funds received thereby, deposited therein or associated therewith and all documents and records associated therewith, and all supporting obligations and letter of credit rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;all Investment Property (including certificated and uncertificated Securities, Securities Accounts, Security Entitlements, Commodity Accounts, and Commodity Contracts, as each such term is defined in the UCC);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;all Commercial Tort Claims;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Monies, personal Property, and interests in personal Property of such Domestic Credit Party of any kind or description now held by Agent or at any time hereafter transferred or delivered to, or coming into the possession, custody, or control of, Agent, or any agent or affiliate of Agent, whether expressly as collateral security or for any other purpose (whether for safekeeping, custody, collection or otherwise), and all dividends and distributions on or other rights in connection with any such property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;supporting evidence and documents relating to any of the above described property, including, without limitation, computer programs, disks, tapes and related electronic data processing media, and all rights of such Domestic Credit Party to retrieve the same from third parties, written applications, credit information, account cards, payment records, correspondence, delivery and installation certificates, invoice copies, delivery receipts, notes and other evidences of indebtedness, insurance certificates and the like, together with all books of account, ledgers, and cabinets in which the same are reflected or maintained;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;all books and records evidencing or relating to or associated with any of the foregoing and any and all claims, rights and interests in any of the above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;all information and data compiled or derived by such Domestic Credit Party with respect to any of the foregoing;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;all other personal Property of such Domestic Credit Party not described above whether now existing or hereafter acquired;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;accessions and additions to, and substitutions and replacements of, any and all of the foregoing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;the collections and Proceeds, whether cash or non-cash, of all of the foregoing (including, without limitation, any adequate protection payments);

<u>provided</u> that, notwithstanding anything contained in this Agreement or any other Loan Document to the contrary, (x) the term "Collateral" shall not include, and a security interest is not granted in, any Excluded Assets (except to the extent otherwise set forth in the definition thereof) and (y) no Domestic Credit Party shall be required to take any action to vest in Agent (or in any representative of Agent designated by it), valid and subsisting Liens on the Collateral to the extent in contravention of the Perfection Exceptions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Extent of Security Interests</u>**. The security interest granted hereunder shall extend and attach to all Collateral which is presently in existence or hereafter acquired and which is owned by any Domestic Credit Party or in which any Domestic Credit Party has any interest, whether held by such Domestic Credit Party or by others for such Domestic Credit Party's account, and wherever located, and, if any Collateral is Equipment, whether such Domestic Credit Party's interest in such Equipment is as owner, lessee or conditional vendee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;Limited License</u>**. Regardless of whether Agent's security interests in any of the General Intangibles has attached or is perfected, each Domestic Credit Party hereby irrevocably grants to Agent, for its benefit and for the benefit of Lenders, a royalty-free, nonexclusive license to use such Domestic Credit Party's Trademarks, Copyrights, Patents and other proprietary and intellectual property rights, in connection with the advertisement for sale, and the sale or other disposition of, any Collateral by, or on behalf of, Agent in accordance with the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4.<u>&nbsp;&nbsp;&nbsp;&nbsp;Representations, Covenants and Agreements Regarding Collateral Generally.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Representations and Warranties</u>**. The Domestic Credit Parties represent and warrant to Agent and Lenders that except for the Permitted Encumbrances and subject to the Perfection Exceptions, (i) upon the filing of UCC financing statements covering the Collateral in all required jurisdictions, this Agreement creates a valid, perfected, first-priority security interest in all Collateral of the Domestic Credit Parties as to which perfection may be achieved by filing of a UCC financing statement, (ii) Agent's security interests in the Collateral constitute, and will at all times constitute, first-priority Liens on the Collateral, and (iii) each Domestic Credit Party is, or will be at the time additional Collateral is acquired by such Domestic Credit Party, the absolute owner of such additional Collateral with full right to pledge, sell, transfer and create a security interest therein, free and clear of any and all claims or Liens.

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written request of Agent (including as directed by the Required Lenders), and at the sole expense of Borrower, each Domestic Credit Party will promptly and duly execute and deliver, and have recorded, such further instruments and documents and take such further actions as Agent or the Required Lenders may reasonably request for the purpose of obtaining or preserving the full benefits of this Agreement and of the rights and powers herein granted, including (I) filing any financing or continuation statements under the UCC (or other similar laws) in effect in any jurisdiction with respect to the security interests created hereby and (II) in the case of Investment Property, Electronic Chattel Paper and any other relevant Collateral, taking any actions necessary to enable Agent to obtain "control" (within the meaning of the UCC) with respect thereto, in each case pursuant to documents in form and substance reasonably satisfactory to Agent and the Required Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Instruments, Certificated Securities and Chattel Paper</u>**. If any amount payable under or in connection with any of the Collateral in excess of $2,000,000 shall be or become evidenced by any Instrument, Certificated Security or Chattel Paper, such Instrument, Certificated Security or Chattel Paper shall be delivered to Agent, duly indorsed in a manner reasonably satisfactory to Agent and the Required Lenders, to be held as Collateral pursuant to this Agreement and in the case of Electronic Chattel Paper, the applicable Domestic Credit Party shall cause Agent to have control thereof within the meaning set forth in Section 9-105 of the UCC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Accounts</u>**. Other than in the ordinary course of business consistent with its past practice or in amounts which are not material to such Domestic Credit Party, no Domestic Credit Party will (i) grant any extension of the time of payment of any Account, (ii) compromise or settle any Account for less than the full amount thereof, (iii) release, wholly or partially, any Person liable for the payment of any Account, (iv) allow any credit or discount whatsoever on any Account or (v) amend, supplement or modify any Account in any manner that could adversely affect the value thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**<u>General Intangibles</u>**. Each Domestic Credit Party represents and warrants to Agent and Lenders that as of the date hereof, such Domestic Credit Party possesses all General Intangibles necessary to conduct its business as presently conducted. Each Domestic Credit Party agrees to maintain such Domestic Credit Party's rights in, and the value of, all such General Intangibles, and to pay when due all payments required to maintain in effect any licensed rights necessary to the conduct of its business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Intellectual Property</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the completion of any remedial actions set forth on Schedule 4.2, as applicable, each Domestic Credit Party and each of its Subsidiaries own, license, or possess the right to use, all of the Trademarks, service marks, trade names, Copyrights, Patents, patent rights, trade secrets, know-how, franchises, licenses and other intellectual property rights that are necessary to the operation of their respective businesses, as currently conducted, except to the extent such failure to own, license or possess, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. To the best knowledge of the Domestic Credit Parties, neither the operation of the business, nor any product, service, process, method, substance, part or other material now used, by any Domestic Credit Party or any of its Subsidiaries infringes, misappropriates or otherwise violates upon any rights held by any other Person which, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. No claim or litigation regarding any of the foregoing is pending or, to the best knowledge of the Domestic Credit Parties, threatened, which, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. To the best knowledge of the

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Domestic Credit Parties, there has been no unauthorized use, access, interruption, modification, corruption or malfunction of any information technology assets or systems (or any information or transactions stored or contained therein or transmitted thereby) owned or used by any Domestic Credit Party or any of its Subsidiaries, which, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Each Domestic Credit Party will, except with respect to any Trademark that such Domestic Credit Party shall reasonably determine is immaterial, (1) maintain as in the past the quality of services offered under such Trademark, (2) maintain such Trademark in full force and effect, free from any claim of abandonment for non-use, (3) employ such Trademark with the appropriate notice of registration, (4) not adopt or use any mark which is confusingly similar or a colorable imitation of such Trademark unless Agent shall obtain a perfected security interest in such mark pursuant to this Agreement, and (5) not (and not permit any licensee or sublicensee thereof to) do any act, or knowingly omit to do any act, whereby any Trademark may become invalidated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Each Domestic Credit Party will not, except with respect to any Patent or Copyright that such Domestic Credit Party shall reasonably determine is immaterial, do any act, or knowingly omit to do any act, whereby any Patent or Copyright may become abandoned or dedicated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Each Domestic Credit Party will notify Agent promptly if it knows, or has reason to know, that any application or registration relating to any Copyright, Patent or Trademark may become abandoned or dedicated, or of any adverse determination or development (including, without limitation, the institution of, or any such determination or development in, any proceeding in the United States Patent and Trademark Office, the United States Copyright Office or any court or tribunal in any country) regarding such Domestic Credit Party's ownership of any Copyright, Patent or Trademark or its right to register the same or to keep and maintain the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Whenever a Domestic Credit Party, either by itself or through any agent, employee, licensee or designee, shall file an application for the registration of any Copyright, Patent or Trademark with the United States Copyright Office or the United States Patent and Trademark Office, such Domestic Credit Party shall report such filing to Agent within thirty (30) Business Days after the last day of the fiscal quarter in which such filing occurs<u>by including a schedule of all such filings in the immediately succeeding Compliance Certificate to be delivered pursuant to Section 8.8(c), such schedule to include all applicable filing information as reasonably necessary (at the discretion of the Agent at the direction of the Required Lenders) to prepare a security agreement in form and substance reasonably satisfactory to Agent</u>. Upon request of Agent, such Domestic Credit Party shall execute and deliver a security agreement in form and substance reasonably satisfactory to Agent, and any and all other agreements, instruments, documents, and papers as Agent may request to evidence Agent's security interest in any Copyright, Patent or Trademark and the goodwill and General Intangibles of such Domestic Credit Party relating thereto or represented thereby, and such Domestic Credit Party hereby constitutes Agent its attorney-in-fact to execute and file all such writings for the foregoing purposes, all acts of such attorney being hereby ratified and confirmed; such power being coupled with an interest is irrevocable until the Obligations are Paid in Full.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;In the event that any Copyright, Patent or Trademark included in the Collateral is infringed, misappropriated or diluted by a third party, each Domestic Credit Party shall promptly notify Agent after it learns thereof and shall, unless such Domestic Credit Party shall reasonably determine that such Copyright, Patent or Trademark is immaterial to such Domestic Credit Party, take such actions as such Domestic Credit Party shall reasonably deem appropriate under the circumstances to protect such Copyright, Patent or Trademark.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;Each Domestic Credit Party will take all reasonable and necessary steps, including, without limitation, in any proceeding before the United States Copyright Office or the United States Patent and Trademark Office, to maintain and pursue each application (and to obtain the relevant registration) and to maintain each registration of the Copyrights, Patents and Trademarks, including, without limitation, filing of applications for renewal, affidavits of use and affidavits of incontestability; <u>provided</u> that, for the avoidance of doubt, the Domestic Credit Parties may make Permitted Dispositions of any Copyrights, Patents and Trademarks, other than Material Intellectual Property, in accordance with <u>Section 10.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.5.<u>&nbsp;&nbsp;&nbsp;&nbsp;Reference to Other Loan Documents</u>**. Reference is hereby made to the other Loan Documents for additional representations, covenants and other agreements of the Domestic Credit Parties regarding the Collateral covered by such Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6.<u>&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.7.<u>&nbsp;&nbsp;&nbsp;&nbsp;Power of Attorney</u>**. Each of the officers of Agent is hereby irrevocably made, constituted and appointed the true and lawful attorney-in-fact for each Domestic Credit Party (without requiring any of them to act as such) with full power of substitution (such power to be deemed coupled with an interest) and each Domestic Credit Party hereby grants to Agent an irrevocable proxy, which proxy shall be effective automatically and without the necessity of any action (including any transfer of any Investment Property on the record books of the issuer thereof), in each case to do the following, upon the occurrence and during the continuance of an Event of Default: (a) after prior written notice to Borrower of Agent's intent to do so, endorse the name of such Domestic Credit Party upon any and all checks, drafts, money orders and other instruments for the payment of monies that are payable to such Domestic Credit Party and constitute collections on the Collateral; (b) after prior written notice to Borrower of Agent's intent to do so, execute in the name of such Domestic Credit Party any schedules, assignments, instruments, documents and statements that such Domestic Credit Party is obligated to give Agent hereunder or that Agent deems is necessary to perfect Agent's security interest or Lien in the Collateral; and (c) after one (1) Business Day's prior written notice to Borrower of Agent's intent to do so (or, solely with respect to clause (8) below, three (3) Business Days' prior written notice), do such other and further lawful acts and deeds in the name of such Domestic Credit Party that Agent may reasonably deem necessary or desirable to enforce its rights with respect to any Collateral, including without limitation, to (1) direct any party liable for any payment under any of the Collateral to make payment of any and all moneys due or to become due thereunder directly to Agent or as Agent shall direct; (2) ask or demand for, collect, and receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Collateral; (3) sign and indorse any invoices, freight or express bills, bills of lading, storage or warehouse receipts, drafts against debtors, assignments, verifications, notices and other documents in connection with any of the Collateral; (4) commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect the Collateral or any portion thereof and to enforce any other right in respect of any Collateral; (5) defend any suit, action or proceeding brought against any Domestic Credit Party with respect to any Collateral; (6) settle, compromise or adjust any such suit, action or proceeding and, in connection therewith, give such discharges or releases as Agent may deem appropriate; (7) assign

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any Intellectual Property, for such term or terms, on such conditions, and in such manner, as Agent shall in its sole discretion determine; (8) vote any right or interest with respect to any Investment Property and to exercise all other rights, powers, privileges and remedies to which a holder of such Investment Property would be entitled (including, without limitation, giving or withholding written consents of shareholders, partners or members, as the case may be, calling special meetings of shareholders, partners or members, as the case may be, and voting at such meetings); (9) order good standing certificates and conduct lien searches in respect of such jurisdictions or offices as Agent may deem appropriate; and (10) generally sell, transfer, pledge and make any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though Agent were the absolute owner thereof for all purposes, and do, at Agent's option and at Borrower's expense, at any time, or from time to time, all acts and things which Agent deems reasonably necessary to protect, preserve or realize upon the Collateral and Agent's security interests therein and to effect the intent of this Agreement, all as fully and effectively as any Domestic Credit Party might do. THE POWER-OF-ATTORNEY AND PROXY GRANTED HEREBY IS COUPLED WITH AN INTEREST AND SHALL BE VALID AND IRREVOCABLE UNTIL (X) THE OBLIGATIONS HAVE BEEN PAID IN FULL, (Y) AGENT AND LENDERS HAVE NO FURTHER OBLIGATIONS UNDER THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AND (Z) ANY COMMITMENTS HAVE EXPIRED OR HAVE BEEN TERMINATED (IT BEING UNDERSTOOD THAT ANY SUCH COMMITMENTS OR OBLIGATIONS WILL CONTINUE TO BE EFFECTIVE OR AUTOMATICALLY REINSTATED, AS THE CASE MAY BE, IF AT ANY TIME PAYMENT, IN WHOLE OR IN PART, OF ANY OF THE OBLIGATIONS IS RESCINDED OR MUST OTHERWISE BE RESTORED OR RETURNED BY AGENT OR ANY LENDER FOR ANY REASON, INCLUDING AS A PREFERENCE, FRAUDULENT CONVEYANCE OR OTHERWISE UNDER ANY BANKRUPTCY, INSOLVENCY OR SIMILAR LAW, ALL AS THOUGH SUCH PAYMENT HAD NOT BEEN MADE; IT BEING FURTHER UNDERSTOOD THAT IN THE EVENT PAYMENT OF ALL OR ANY PART OF THE OBLIGATIONS IS RESCINDED OR MUST BE RESTORED OR RETURNED, ALL REASONABLE AND DOCUMENTED OUT-OF-POCKET COSTS AND EXPENSES (INCLUDING, WITHOUT LIMITATION, REASONABLE AND DOCUMENTED ATTORNEYS' FEES AND DISBURSEMENTS) INCURRED BY AGENT IN DEFENDING AND ENFORCING SUCH REINSTATEMENT SHALL BE DEEMED TO BE INCLUDED AS A PART OF THE OBLIGATIONS). SUCH APPOINTMENT OF AGENT AS PROXY AND ATTORNEY-IN-FACT SHALL BE VALID AND IRREVOCABLE AS PROVIDED HEREIN NOTWITHSTANDING ANY LIMITATIONS TO THE CONTRARY SET FORTH IN THE CERTIFICATE OF INCORPORATION, CERTIFICATE OF FORMATION, ARTICLES OF ORGANIZATION, BY-LAWS, LIMITED LIABILITY COMPANY AGREEMENTS OR OTHER ORGANIZATIONAL DOCUMENTS OF ANY DOMESTIC CREDIT PARTY, INCLUDING ANY REQUIREMENT TO TRANSFER ANY INVESTMENT PROPERTY TO AGENT OR ITS DESIGNEE AND THE ADMITTANCE OF ANY SUCH TRANSFEREE AS A SHAREHOLDER, PARTNER OR MEMBER OF SUCH DOMESTIC CREDIT PARTY OR ISSUER OF SUCH INVESTMENT PROPERTY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.8.<u>&nbsp;&nbsp;&nbsp;&nbsp;Filing of UCC Financing Statements</u>**. Each Domestic Credit Party hereby ratifies its authorization for Agent (or its designee) to have filed in any jurisdiction any initial UCC financing statements or amendments or continuation statements thereto indicating "all assets of the Debtor wherever located, whether now owned or existing or hereafter acquired or arising, together with all proceeds thereof" or similar language as the collateral description.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.9.<u>&nbsp;&nbsp;&nbsp;&nbsp;Duty of Agent</u>**. Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession shall be to deal with it in the same manner as Agent deals with similar property for its own account. Neither Agent nor any Lender nor any of their respective officers, directors, employees or agents shall be liable for any failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise

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dispose of any Collateral upon the request of any Domestic Credit Party or any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. The powers conferred on Agent and Lenders hereunder are solely to protect Agent's and Lenders' interests in the Collateral and shall not impose any duty upon Agent or any Lender to exercise any such powers. Agent and Lenders shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be responsible to any Domestic Credit Party for any act or failure to act hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.10.<u>&nbsp;&nbsp;&nbsp;&nbsp;Collections</u>6.11.<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>.** No checks, drafts or other instruments received by Agent shall constitute final payment to Agent or any Lender unless and until such instruments have actually been collected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.11.<u>&nbsp;&nbsp;&nbsp;&nbsp;Collateral and Guaranty Releases</u>6.12.<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>**. The Lenders irrevocably authorize Agent, and Agent shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;evidence the release of any Lien on any Collateral granted to or held by Agent and/or any Lender under any Loan Document (i) upon the Termination Date in accordance with <u>Section 14.1(b)</u>, (ii) that is transferred or to be transferred as part of or in connection with any Permitted Disposition or any Involuntary Disposition (<u>provided</u> that, upon request by Agent, Borrower shall certify in an officer's certificate, reasonably satisfactory in form and substance to Agent, that such Permitted Disposition is permitted under this Agreement (and each Lender agrees that Agent may rely conclusively on any such certificate, without further inquiry)), or (iii) as approved in accordance with <u>Section 14.15;</u> <u>provided</u> that, any release pursuant to the preceding clauses (i) or (ii) shall be deemed to be automatic upon the occurrence or consummation of the relevant event or transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;evidence the release of any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary or becomes an Excluded Subsidiary, in each case as a result of a transaction permitted hereunder; <u>provided</u> that, Agent has received an executed certificate of an officer of Borrower, reasonably satisfactory in form and substance to Agent, certifying that such transaction is permitted under this Agreement (and each Lender agrees that Agent may rely conclusively on any such certificate, without further inquiry); <u>provided,</u> <u>further</u>, that no Guarantor shall be released from its obligations under the Guaranty solely by reason of becoming an Excluded Subsidiary by way of ceasing to be a wholly-owned subsidiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;at the request of Borrower, promptly execute and deliver to Borrower such other documents as Borrower reasonably requests to further evidence any such release and/or termination referenced in this <u>Section 6.11</u>.

Upon request by the Agent at any time, the Required Lenders will confirm in writing the Agent's authority to release or subordinate its interest in particular types or items of property, or to release any Credit Party from its obligations under the Loan Documents.

**SECTION 7.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Representations and Warranties</u>**

In order to induce Agent and Lenders to enter into this Agreement, each of Parent and Borrower makes the following representations and warranties to Agent and each Lender which shall be true, correct, and complete, in all material respects (except 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), as of the Closing Date (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall be true and correct in all material respects

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(except 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) as of such earlier date) and such representations and warranties shall survive the execution and delivery of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Solvency</u>**. (a) The amount of the Credit Parties' assets, taken as a whole, at fair valuation, exceeds the book value of the Credit Parties' liabilities, taken as a whole, (b) the Credit Parties, taken as a whole, are generally able to pay their debts as they become due and payable in the ordinary course of business, and (c) the Credit Parties, taken as a whole, do not have unreasonably small capital to carry on their businesses as currently conducted absent extraordinary and unforeseen circumstances. All financial statements of the Credit Parties (or any of them) previously furnished to Agent present fairly, in all material respects, the financial condition of the Credit Parties as of the date of such financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Organization Matters</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Credit Party is duly organized or formed, validly existing and (to the extent the concept is applicable in such jurisdiction) in good standing under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Perfection Certificate attached hereto as <u>Schedule 7.2</u> correctly and completely set forth the information contained therein as of the Closing Date. <u>Schedule 7.2</u> attached hereto correctly and completely sets forth each Credit Party's (a) exact name, as currently reflected by the records of such Credit Party's jurisdiction of organization, (b) jurisdiction of organization, (c) federal employer identification number and State organization identification number, (if any), and (d) chief executive office of such Credit Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;Power and Authority; Conflicts; Enforceability.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Credit Party has full corporate or limited liability company power and authority, as applicable, to execute and deliver this Agreement and the other Loan Documents to which such Credit Party is a party, and to perform all of such Credit Party's obligations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The execution and delivery by each Credit Party of this Agreement and the other Loan Documents to which such Credit Party is a party and the performance of such Credit Party's obligations hereunder and thereunder have been duly authorized by all necessary corporate, limited liability company or other relevant action, and do not (i) require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except (x) such as have been obtained or made and are in full force and effect and (y) those approvals, consents, registrations, filings or other actions, the failure of which to obtain or make would not reasonably be expected to have a Material Adverse Effect, (ii) violate any term, provision or covenant contained in the Organizational Documents of such Credit Party, (iii) violate, or cause such Credit Party to be in default under, any Law applicable to such Credit Party or its assets, except as would not reasonably be expected to have a Material Adverse Effect, or (iv) violate any material term, provision, covenant or representation contained in, or constitute a default under, or result in the creation of any Lien under, any loan agreement, lease, indenture, mortgage, deed of trust, note, security agreement or pledge agreement to which such Credit Party is a signatory or by which such Credit Party or such Credit Party's assets are bound or affected, except as would not reasonably be expected to have a Material Adverse Effect.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement and the other Loan Documents to which the Credit Parties (or any of them) are parties constitute legal valid and binding obligations of the Credit Parties, enforceable in accordance with their respective terms, subject to (i) applicable bankruptcy, insolvency, moratorium, fraudulent transfer and other laws affecting creditors' rights generally and (ii) general principles of equity, regardless of whether considered in a proceeding at law or in equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4.<u>&nbsp;&nbsp;&nbsp;&nbsp;Financial Condition; No Material Adverse Change</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Borrower has heretofore furnished to Agent (i) Parent's consolidated balance sheets and related consolidated statements of operations and comprehensive loss, consolidated statements of changes in members' (deficit) equity, and consolidated statements of cash flows as of and for the fiscal years ended January 31, 2024 and January 31, 2025, reported on by PricewaterhouseCoopers LLP, independent public accountants and (ii) its condensed consolidated balance sheets and related condensed consolidated statements of operations and comprehensive loss, condensed consolidated statements of changes in members' (deficit) equity, and condensed consolidated statements of cash flows as of the end of and for the fiscal quarters ended April 30, 2025 and July 31, 2025 and, in each case, the then elapsed portion of the fiscal year. Such financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of Parent and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Since January 31, 2025, no event, development or circumstance exists or has occurred that has had or would reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.5.<u>&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Laws; Permits; Anti-Terrorism Laws; Anti-Corruption Laws.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Credit Party and such Credit Party's properties are in compliance with all applicable Laws, and all orders of any federal, state or local legislative, administrative or judicial body or official, except to the extent the failure to so comply would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Credit Party maintains all Permits necessary to the operation of its business, except to the extent the failure to have such Permits would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;None of the Credit Parties and, to the knowledge of the Credit Parties, none of their Affiliates, nor any director, officer, agent, or other person acting on behalf of any Credit Party or Affiliate, (i) is in violation of any Anti-Terrorism Law, (ii) engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law, (iii) is a Blocked Person, or is controlled by a Blocked Person, (iv) is acting or will act for or on behalf of a Blocked Person or (v) is providing, or will provide, material, financial or technical support or other services to or in support of acts of terrorism of a Blocked Person. No Credit Party nor, to the knowledge of any Credit Party, any of its Affiliates or agents acting or benefiting in any capacity in connection with the Transactions, (A) conducts any business or engages in making or receiving any contribution of funds, goods or services to or for the benefit of any Blocked Person, or (B) deals in, or otherwise engages in any transaction relating to, any property or interest in property blocked pursuant to Executive Order No. 13224, any similar executive order or other Anti-Terrorism Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;None of the Credit Parties and, to the knowledge of the Credit Parties, none of their Affiliates, nor any director, officer, agent, or other person acting on behalf of any Credit Party or any

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Affiliate, has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the "**<u>FCPA</u>**") or any other applicable anti-corruption law; and the Credit Parties have instituted and maintain policies and procedures designed to ensure continued compliance therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.6.<u>&nbsp;&nbsp;&nbsp;&nbsp;Environmental Matters</u>**. Without limiting <u>Section 7.5</u> or the generality of any other representation or warranty made in this Agreement, each Credit Party hereby represents and warrants that, except as, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;no notice, notification, demand, request for information, citation, summons, complaint or order has been issued, no complaint has been filed, no penalty has been assessed and no investigation or review is pending, or to such Credit Party's knowledge, threatened by any Government Authority or other Person against any Credit Party with respect to any (i) alleged violation by any Credit Party of any Environmental Law, (ii) alleged failure by any Credit Party to have any environmental Permits required in connection with the conduct of its business or to comply with the terms and conditions thereof, (iii) any generation, treatment, storage, recycling, transportation or disposal of any Hazardous Materials, or (iv) release of Hazardous Materials; except, in each case, to the extent such notice, notification, demand, request, citation, summons, complaint or order, such filed complaint, such penalty, or such investigation or review or failure to have a Permit would not reasonably be expected to have a Material Adverse Effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;no real Property now owned or leased by any Credit Party and, to the knowledge of each Credit Party, no such real Property previously owned or leased by any Credit Party, to which any Credit Party has, directly or indirectly, transported or arranged for the transportation of any Hazardous Materials, is listed or, to such Credit Party's knowledge, proposed for listing, on the National Priorities List promulgated pursuant to CERCLA, or CERCLIS (as defined in CERCLA) or any similar state list or is the subject of federal, state or local enforcement actions or, to the knowledge of such Credit Party, other investigations which may lead to claims against any Credit Party for cleanup costs, remedial work, damage to natural resources or personal injury claims, including claims under CERCLA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.7.<u>&nbsp;&nbsp;&nbsp;&nbsp;Pending Litigation</u>**. Except as set forth on <u>Schedule 7.7</u>, there exist no Proceedings of any kind by or against any Credit Party pending in any court or before any arbitrator or governmental body that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.8.<u>&nbsp;&nbsp;&nbsp;&nbsp;Employee Benefits</u>**. Except as would not reasonably be expected to have a Material Adverse Effect, (i) each Employee Benefit Plan complies with, and has been operated in accordance with, all applicable laws, including ERISA and the Code, and the terms of such Employee Benefit Plan, (ii) no Credit Party has any liability for a fine, penalty, damage, or excise tax with respect to an Employee Benefit Plan and no Credit Party has received notice from a Government Authority, plan administrator, or participant (or any participant's agent) that any such fine, penalty, damage or excise tax may be owing by such Credit Party and (iii) each Employee Benefit Plan intended to be qualified by a Credit Party under Section 401 of the Code is so qualified. Except as otherwise set forth on <u>Schedule 7.8</u>, as of the Closing Date, no Credit Party contributes to, or has liability to contribute to any Pension Plan or Multiemployer Plan. No ERISA Event has occurred and to the knowledge of the Credit Parties, there is no event or circumstance that has occurred which would reasonably be expected to result in an ERISA Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.9.<u>&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.10.<u>&nbsp;&nbsp;&nbsp;&nbsp;Disclosure</u>**. Each of the Schedules attached to this Agreement set forth a true, correct and complete description of the matter or matters covered thereby. No report, financial statement, certificate or other information (other than projected financial information, *pro forma* financial

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information, budgets, estimates and information of a general economic or industry nature) furnished in writing by or on behalf of any Credit Party to Agent or any Lender in connection with the Transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished and when taken as a whole together with any information disclosed in Parent's public filings with the SEC) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially misleading; <u>provided</u> that, with respect to any projected financial information, the Credit Parties represent only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time furnished. Such projections represent the Credit Parties' best estimate of the Credit Parties' future financial performance and such assumptions are believed by the Credit Parties to be fair and reasonable in light of current business conditions; <u>provided</u> that the Credit Parties can give no assurance that such projections will be attained, and actual results may differ significantly from the projected results, and such differences may be material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.11.<u>&nbsp;&nbsp;&nbsp;&nbsp;Security Interest</u>**. Pursuant to Section 6.1 and subject to the provisions thereof, each Credit Party has granted to Agent, for its benefit and the benefit of Lenders, a valid, perfected, first-priority security interest in the Collateral subject to no other liens, claims or encumbrances, other than Permitted Encumbrances. Nothing herein shall constitute an agreement to subordinate such security interest to any Permitted Encumbrance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.12.<u>&nbsp;&nbsp;&nbsp;&nbsp;Taxes</u>**. Parent and its Subsidiaries have filed all federal, state and other tax returns and reports required to be filed, and have paid all federal, state and other taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except (a) Taxes that are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves are being maintained in accordance with GAAP or (b) to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.13.<u>&nbsp;&nbsp;&nbsp;&nbsp;Capitalization</u>**. As of the Closing Date, all of the Subsidiaries of Parent, together with the percentage ownership (directly or indirectly) of Parent and Borrower, as applicable, therein is as set forth on <u>Schedule 7.13</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.14.<u>&nbsp;&nbsp;&nbsp;&nbsp;Margin Stock</u>**. No Credit Party is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying Margin Stock. No portion of the Obligations is secured directly or indirectly by Margin Stock.

**SECTION 8.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Affirmative Covenants</u>**

On the Closing Date and at all times thereafter until and including the Termination Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Maintenance of Financial Records; Inspections</u>**. Each Credit Party agrees to maintain proper books of record and account in which full, true and correct entries in all material respects shall be made, sufficient to prepare financial statements in accordance with GAAP. Each Credit Party agrees that any representatives designated by Agent may enter upon any Credit Party's premises (subject to the rights of lessees or sublessees thereof and subject to any restrictions or limitations in the applicable lease, sublease or other written occupancy arrangement pursuant to which any Credit Party is a party) at any time during normal business hours and absent the existence of an Event of Default, upon reasonable advance notice, and from time to time, in order to examine and inspect the books and records of any Credit Party, and make copies thereof and take extracts therefrom to the extent reasonably necessary; <u>provided</u> that Agent shall not exercise such rights more often than one (1) time during any calendar year; <u>provided</u>, <u>further</u>, that the foregoing limitation shall not apply to the exercise by Agent of such rights during the continuation of an Event of Default. All reasonable and documented out-of-pocket costs, fees and expenses incurred by Agent in connection with such permitted examinations and inspections shall

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constitute Out-of-Pocket Expenses for purposes of this Agreement; <u>provided</u> that Borrower shall not be required to reimburse Agent for any such costs, fees, or expenses that exceed $25,000 in the aggregate during any calendar year; <u>provided</u>, <u>further</u>, that the foregoing limitation shall not apply to any such costs, fees, or expenses incurred during the continuation of an Event of Default. The Credit Parties irrevocably authorize all accountants (subject to such accountants' customary policies and procedures), to discuss the financial statements generated by them regarding the Credit Parties or the Collateral; <u>provided</u> that Agent shall not exercise such rights more often than one (1) time during any calendar year; <u>provided</u>, <u>further</u>, that the foregoing limitation shall not apply to the exercise by Agent of such rights during the continuation of an Event of Default; <u>provided</u>, <u>further</u>, that such Credit Party shall be afforded the opportunity to participate in any discussions with such independent accountants. Notwithstanding anything to the contrary in this <u>Section 8.1</u>, none of Parent or Borrower shall be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter that (i) constitutes non-financial trade secrets or non-financial proprietary information, (ii) in respect of which disclosure to the Agent or any Lender (or their respective representatives) is prohibited by applicable Law or any third party contract legally binding on any Credit Party or (iii) is subject to attorney, client or similar privilege or constitutes attorney work-product (provided that such confidentiality obligations were not entered into in contemplation of the requirements of this <u>Section 8.1</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Further Assurances</u>**. Each Credit Party agrees, upon the reasonable request of Agent, to take such actions as are necessary or appropriate, in order to grant to and maintain in favor of Agent, for the benefit of Lenders, valid and perfected first priority security interests in the Collateral (other than Excluded Assets), subject only to the (i) Permitted Encumbrances and (ii) the Perfection Exceptions. Agent (or its designee) is hereby authorized by the Credit Parties to file any financing statements, continuations and amendments covering the Collateral in accordance with the provisions of the UCC (or similar filings under applicable law). The Credit Parties hereby consent to the filing of any financing statements (or similar filings under applicable law) covering the Collateral by Agent on the Closing Date. Subject to the other terms and provisions of this Agreement, the Credit Parties agree to do whatever Agent reasonably may request from time to time, by way of (i) filing notices of Liens, financing statements, amendments, renewals and continuations thereof (or similar filings under applicable law), (ii) delivering Pledge Agreements with respect to any Equity Interests (other than Excluded Assets) owned by any Credit Party, and (iii) performing such further acts as Agent reasonably may require in order to effect the purposes of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;Insurance; Maintenance of Properties.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Insurance</u>**. The Credit Parties agree to maintain with insurance companies that the Credit Parties believe (in the good faith judgment of their management) are financially sound and reputable at the time the relevant coverage is placed or renewed, insurance with respect to the Properties and business of the Credit Parties against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business and owning similar properties in localities where the applicable Credit Party operates, of such types and in such amounts (after giving effect to any self-insurance reasonable and customary for similarly situation Persons engaged in the same or similar businesses) as are customarily carried under similar circumstances by such other Persons. All policies relating to general commercial liability and commercial property insurance shall as appropriate name Agent as an "additional insured" or "lender's loss payable," as applicable, thereunder as its interests may appear, and in the case of each general commercial liability insurance policy, shall contain a lenders loss payable clause and endorsement that names Agent, on behalf of Lenders, as lender's loss payable thereunder, together with an endorsement to such policy or policies confirming same. If an Event of Default shall have occurred and remain outstanding, Agent, subject to the rights of any holder of a Permitted Encumbrance having priority over the security interests of Agent, shall have the sole right, in

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the name of Agent or the Credit Parties (or any of them), to file claims under any insurance policies, to receive, receipt and give acquittances for any payments that may be payable thereunder, and to execute any and all endorsements, receipts, releases, assignments, reassignments or other documents that may be necessary to effect the collection, compromise or settlement of any claims under any such insurance policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Maintenance of Properties</u>**. Each Credit Party will, and will cause each of its Subsidiaries to, keep and maintain all property used in the conduct of its business in good working order and condition, ordinary wear and tear and casualty events excepted, except to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4.<u>&nbsp;&nbsp;&nbsp;&nbsp;Payment of Taxes</u>**. Each Credit Party will, and will cause each of its Subsidiaries to, pay, discharge or otherwise satisfy as the same shall become due and payable, all of its Tax liabilities, unless the same are being contested in good faith by appropriate proceedings and adequate reserves in accordance with GAAP are being maintained by Parent or such Subsidiary, except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.5.<u>&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.6.<u>&nbsp;&nbsp;&nbsp;&nbsp;Notices Concerning Employee Benefit and Pension Matters</u>** . Each Credit Party agrees to promptly notify Agent in writing of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the occurrence of an ERISA Event that would reasonably be expected to result in a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the occurrence of any Default or Event of Default under any of the Loan Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any Proceeding against or affecting Parent of any of its Subsidiaries that would reasonably be expected to have a Material Adverse Effect.

Each notice delivered under this Section 8.6 shall be accompanied by a statement of an Authorized Officer of Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.7.<u>&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Laws</u>**. Each Credit Party will, and will cause each of its Subsidiaries to, comply with all applicable Requirements of Law, except where the failure to comply would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.8.<u>&nbsp;&nbsp;&nbsp;&nbsp;Financial Reporting</u>**. Borrower agrees to furnish to Agent (for distribution to each Lender other than information provided pursuant to Section 8.8(a)(ii) which shall be distributed only to Private Side Lenders):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;(i) on or before the date on which such financial statements are required to be filed with the SEC (giving effect to any grace period provided under the Exchange Act) after the end of each fiscal year of Parent (or, if such financial statements are not required to be filed with the SEC, within ninety (90) days after the end of each fiscal year of Parent), its audited consolidated balance sheet and related consolidated statements of operations and comprehensive income (loss), changes in stockholders' equity, and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by PricewaterhouseCoopers LLP or other independent public accountants of recognized national standing (without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of Parent and its Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, together with a customary

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management's discussion and analysis of financial information, and (ii) as soon as available but in no event more than twelve (12) months after the end of each fiscal year of Parent, a reconciliation in respect of such fiscal year, excluding the assets, liabilities, revenue, expenses and net income of Excluded Subsidiaries from such consolidated financial statements, and a reconciliation in respect of such fiscal year including only the assets, liabilities, revenue, expenses and net income of Excluded Subsidiaries from such consolidated financial statements, which distribution pursuant to this Section 8.8(a)(ii) shall be limited to the Private Side Lenders, in each case in the form attached as <u>Exhibit I</u> hereto, which form was provided by the Borrower to the Lenders prior to the Closing Date and is acceptable to the Lenders, and shall not be subject to any further modification or change requested by any Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;on or before the date on which such financial statements are required to be filed with the SEC (giving effect to any grace period provided under the Exchange Act) after the end of each of the first three (3) fiscal quarters of each fiscal year of Parent (or, if such financial statements are not required to be filed with the SEC, within forty-five (45) days after the end of each of the first three (3) fiscal quarters of each fiscal year of Parent), its consolidated balance sheet and related consolidated statements of operations and comprehensive income (loss), changes in stockholders' equity, and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the then-current fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by an Authorized Person as presenting fairly in all material respects the financial condition and results of operations of Parent and its Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;contemporaneously with the delivery of the annual and quarterly financial statements referred to in <u>clauses (a)</u> and <u>(b)</u> above, a Compliance Certificate, signed by an Authorized Person of Borrower (i) certifying as to whether a Default has occurred and is continuing as of the date thereof and, if a Default has occurred and is continuing as of the date thereof, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) certifying as to whether Borrower was in compliance with <u>Section 9</u> as of the last Business Day of the fiscal year or fiscal quarter covered by such financial statements and (iii) solely with regard to Compliance Certificates delivered contemporaneously with annual financial statements delivered pursuant to <u>clause (a)</u> above, a calculation setting forth the Net Cash Proceeds for such applicable fiscal year and an aggregate calculation of amounts required (or amounts not required, as the case may be) to be repaid pursuant to Section 3.3(d)(i);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed by Parent or any Subsidiary with the SEC (or any Governmental Authority succeeding to any or all of the functions of the SEC) under Section 13 or 15(d) of the Exchange Act, as the case may be, in each case that is not otherwise required to be delivered to Agent pursuant hereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;promptly following any reasonable request in writing (including any electronic message) therefor, (i) such other information regarding the operations, business affairs and financial condition of Parent or any Subsidiary, or compliance with the terms of this Agreement or any other Loan Document, as Agent or any Lender (through Agent) may reasonably request, <u>provided</u> that, notwithstanding the foregoing, none of Parent or any of its Subsidiaries shall be required to disclose any document, information or other matter that (A) constitutes non-financial trade secrets or non-financial proprietary information, (B) in respect of which disclosure to Agent or any Lender (or their respective representatives) is prohibited by applicable Law or any third party contract legally binding on Parent or its Subsidiaries or (C) is subject to attorney, client or similar privilege or constitutes attorney work-product

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(provided that such confidentiality obligations were not entered into in contemplation of the requirements of this <u>Section 8.8(f)(i)</u>) and (ii) information and documentation reasonably requested by Agent or any Lender for purposes of compliance with applicable "know your customer" and anti-money laundering rules and regulations, including the USA Patriot Act and the Beneficial Ownership Regulation.

Information required to be delivered pursuant to <u>Section 8.8(a)</u>, <u>Section 8.8(b)</u> or <u>Section 8.8(</u><u>d</u><u>c</u><u>)</u> may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date on which such information is posted on Borrower's or Parent's behalf on an Internet or intranet website, if any, to which the Lenders and Agent have been granted access (whether a commercial, third-party website or whether sponsored by Agent).

Notwithstanding the foregoing, the obligations in <u>Sections 8.8(a)</u> or <u>8.8(b)</u> may be satisfied by furnishing (A) the applicable financial statements or other information required by such clauses of Parent (or any other parent company) or (B) Parent's or Borrower's (or any other parent company), as applicable, Form 10-K or 10-Q, as applicable, filed with the SEC or any securities exchange, in each case, within the time periods specified in such paragraphs; provided that, with respect to each of clauses (A) and (B), upon reasonable request by Agent, (i) to the extent such financial statements are delivered under <u>Sections 8.8(a)</u> or <u>8.8(b)</u> and relate to Parent, such financial statements shall be accompanied by consolidating information that explains in reasonable detail the differences between the information relating to Parent, on the one hand, and the information relating to Borrower and its Subsidiaries on a standalone basis, on the other hand, which consolidating information shall be certified by an Authorized Person of Borrower as having been fairly presented and (ii) to the extent such statements are in lieu of statements required to be provided under <u>Section 8.8(a)</u>, such statements shall be accompanied by a report and opinion of an independent registered public accounting firm of nationally recognized standing, which report and opinion shall satisfy the applicable requirements set forth in <u>Section 8.8(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.9.<u>&nbsp;&nbsp;&nbsp;&nbsp;Material Adverse Developments</u>**. Parent and each Credit Party agrees that upon any Senior Officer becoming aware of any development or other information which would reasonably be expected to have a Material Adverse Effect, it shall promptly provide Agent written notice specifying the nature of such development or information and such anticipated effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.10.<u>&nbsp;&nbsp;&nbsp;&nbsp;Existence; Business Qualification</u>**. Parent and each other Credit Party will, and will cause each of its Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence in its jurisdiction of organization and the rights, licenses, permits, privileges and franchises material to the conduct of its business; <u>provided</u> that (i) the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under <u>Section 10.4</u> and (ii) no Credit Party nor any of its Subsidiaries shall be required to preserve, renew or keep in full force and effect its rights, licenses, permits, privileges or franchises where failure to do so would not reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.11.<u>&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.12.<u>&nbsp;&nbsp;&nbsp;&nbsp;Use of Proceeds</u>**. The proceeds of the Initial Term Loan shall be used by the Credit Parties to consummate the Transactions and to pay fees, costs and expenses incurred in connection with the Transactions. No part of the proceeds of the Initial Term Loan will be used, whether directly or indirectly, to purchase or carry Margin Stock or to extend credit to others for the purpose of purchasing or carrying Margin Stock or to refund indebtedness originally incurred for such purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.13.<u>&nbsp;&nbsp;&nbsp;&nbsp;Fundamental Changes</u>**. Each Credit Party shall give prompt written notice to Agent (and in any event within thirty (30) days after such change) of any changes in (a) its jurisdiction of organization, (b) in the location of any of its chief executive office, or (c) its name.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.14.<u>&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</u>**.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.15.<u>&nbsp;&nbsp;&nbsp;&nbsp;Joinder of New Credit Parties</u>**. (a) If, as of the date of the most recently available financial statements delivered pursuant to <u>Section 8.8(a)</u> or <u>(b)</u> as the case may be, any Credit Party shall have acquired or formed a new Subsidiary, such Credit Party shall cause such new Subsidiary (other than any Excluded Subsidiary) to become a Guarantor hereunder within forty-five (45) days (or such longer period of time as agreed to by Agent at the direction of the Required Lenders in its reasonable discretion) after delivery of such financial statements and such Subsidiary shall execute and deliver to Agent (i) (A) a Joinder adding such Subsidiary as a Guarantor and (B) in the case of a Foreign Subsidiary incorporated or organized in an Approved Foreign Jurisdiction, a customary local law governed security agreement in form and substance reasonably satisfactory to Agent and Borrower (provided that such security agreement will (1) operate to create security and not impose new commercial obligations or repeat clauses in the other Loan Documents and (2) not contain additional representations, undertakings or indemnities (including in respect of insurance, information, maintenance or protection of assets of the payment of fees, costs and expenses) unless they are the same as or consistent with those contained in this Agreement and the other Loan Documents and are required for the creation of perfection of security or which are on terms customary in the applicable Approved Foreign Jurisdiction or which are otherwise reasonably requested by the Agent (at the written direction of the Required Lenders) or the Required Lenders), (ii) such amendments or supplements to the Loan Documents or such other documents as Agent (at the written direction of the Required Lenders) or the Required Lenders shall deem necessary or reasonably advisable to grant to Agent, for its benefit and for the benefit of the Lenders, a Lien on such property (subject only to Permitted Encumbrances which, pursuant to the terms of this Agreement, are permitted to have priority over Agent's liens thereon and the Perfection Exceptions), (iii) (A) in the case of a Domestic Subsidiary, financing statements, stock/membership certificates, joinders to the Pledge Agreements and other Loan Documents, and other documents reasonably required by Agent (at the written direction of the Required Lenders) or the Required Lenders, in each case all in form and substance reasonably satisfactory to Agent and the Required Lenders and substantially in form and substance as those equivalent documents previously delivered hereunder, pursuant to which such Subsidiary shall secure its obligations under this Agreement by a first priority, perfected security interest in all Collateral of such Subsidiary (subject to the Perfection Exceptions) or (B) in the case of a Foreign Subsidiary incorporated or organized in an Approved Foreign Jurisdiction, such documents reasonably requested by Agent (at the written direction of the Required Lenders) or the Required Lenders, in each case all in form and substance reasonably satisfactory to Agent and the Required Lenders, pursuant to which Agent shall have a valid, perfected and enforceable security interest in such Foreign Subsidiary's assets (other than Excluded Assets), (iv) a good standing certificate (to the extent such concept is applicable in the relevant jurisdiction) from the state in which such Subsidiary is incorporated, organized or formed, and any and all states in which such Subsidiary is authorized to do business and where the failure to be so qualified would reasonably be expected to have a Material Adverse Effect, (v) a certificate executed by the Secretary or other officer of such Subsidiary (or its member) in form and substance reasonably acceptable to Agent and the Required Lenders and substantially in form and substance as those equivalent documents previously delivered hereunder, and (vi) if requested by Agent, an opinion covering such Subsidiary in substance consistent with those opinions as previously delivered hereunder; <u>provided</u> that, in the case of a Foreign Subsidiary, such legal opinion shall only be required to cover such matters as are customary for legal opinions in the applicable jurisdiction of incorporation or organization of such Foreign Subsidiary; <u>provided</u> further, that no Credit Party nor any of its Subsidiaries shall be required to take any action under this <u>Section 8.15(a)</u> if prior to the end of such forty-five (45) day period (or such longer period of time as Agent may agree in its reasonable discretion) such Person becomes an Excluded Subsidiary as a result of a transfer of assets from such Person to Borrower in a transaction or transactions permitted under this Agreement. Any Credit Party that is the direct parent of any new Subsidiary shall deliver a new Pledge Agreement or a supplement to an existing Pledge Agreement (or, in the case of any new Subsidiary that is a Foreign Subsidiary incorporated or organized in an Approved Foreign Jurisdiction, such other documents

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reasonably required by Agent (at the written direction of the Required Lenders) or the Required Lenders), and take such other actions as are necessary or desirable to grant and perfect a Lien on the Equity Interests (other than Excluded Assets) of such Subsidiary. In the event that any Equity Interests of such Subsidiary is certificated, the Credit Party that is the parent of such new Subsidiary shall deliver to Agent such certificates representing all owned interests in such Subsidiary with attached transfer powers executed in blank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Within sixty<u>fifteen</u> (60<u>15</u>) days after the Closing<u>Amendment No. 1 Effective</u> Date (or, upon request of the Borrower, such later date as Agent may agree, at the direction of the Required Lenders) the Borrower shall cause all Foreign Subsidiaries (other than any Excluded Subsidiary) <u>as of the Amendment No. 1 Effective Date</u>, to execute a Joinder to this Agreement, in form agreed to by the Agent at the direction of the Required Lenders, and such other customary security agreements and security documents and customary guarantee or other undertaking, if applicable, and cause the pledge of such Foreign Subsidiaries' Equity Interests and Indebtedness held by the Borrower or other Credit Parties<u>Subsidiaries of the Borrower</u>, deliver customary legal opinions, certifications, representation and take such other actions as are customarily taken in the jurisdiction of such Foreign Subsidiary's organization as may be reasonably requested by the Agent (at the written direction of the Required Lenders), the Required Lenders or the counsel rendering the opinions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.16.<u>&nbsp;&nbsp;&nbsp;&nbsp;Protection of Intellectual Property</u>**. Each Credit Party shall protect, defend and maintain the validity and enforceability of any Intellectual Property determined in the reasonable judgment of such Credit Party to be necessary to the conduct of its business except to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect. Each Credit Party shall at all times conduct its business without knowingly infringing, misappropriating, diluting, violating, or otherwise impairing the Intellectual Property of any other Person in any material respect.

**SECTION 9.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Financial Covenant</u>**

Until and including the Termination Date, Borrower agrees, with respect to Parent and its Subsidiaries on a consolidated basis:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Minimum Liquidity</u>**. Commencing on November 30, 2025 and as of the last Business Day of each fiscal month thereafter (each, a "**<u>Liquidity Test Date</u>**"), Borrower shall not permit Liquidity to be less than $25,000,000, on each such Liquidity Test Date (the "**<u>Minimum Liquidity Test</u>**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Equity Cure</u>**(a)&nbsp;&nbsp;&nbsp;&nbsp; (a) Notwithstanding anything to the contrary contained in <u>Section 11.1</u>, for the purposes of determining whether an Event of Default under the Minimum Liquidity Test has occurred, Borrower may, on one or more occasions, designate any portion of the net cash proceeds from a sale or issuance of shares of Common Stock (or preferred equity or convertible preferred equity on terms reasonably acceptable to the Required Lenders) of Parent (or any direct or indirect parent thereof) that are contributed as common equity to Borrower, or from any other contribution to the common capital of Borrower (the "**<u>Minimum Liquidity Test Cure Amount</u>**"), as an increase to Liquidity solely for the purposes of determining compliance with the Minimum Liquidity Test as of the applicable Liquidity Test Date; <u>provided</u> that (i) such amounts to be designated are actually received by Borrower (whether directly or indirectly through Parent or any parent thereof) after the occurrence of such Event of Default and on or prior to the date that is ten (10) Business Days after the applicable Liquidity Test Date (the "**<u>Minimum Liquidity Test Cure Expiration Date</u>**"), (ii) such Minimum Liquidity Test Cure Amount shall be equal to the aggregate amount necessary to cure any Event of Default under the Minimum Liquidity Test as of such date, and (iii) Borrower shall have provided notice to Agent on the date such amounts are designated as a "Minimum Liquidity Test Cure Amount".

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In furtherance of <u>Section 9.2(a)</u> above, (i) upon actual receipt by Borrower and designation of the Minimum Liquidity Test Cure Amount by Borrower, the Minimum Liquidity Test shall be deemed satisfied and complied with as of the Liquidity Test Date with the same effect as though there had been no failure to comply with the Minimum Liquidity Test, and any Event of Default under the Minimum Liquidity Test (and any Event of Default arising therefrom), shall be deemed not to have occurred for purposes of this Agreement and (ii) upon delivery to Agent prior to the Minimum Liquidity Test Cure Expiration Date of a notice from Borrower stating its good faith intention to exercise its right set forth in this <u>Section 9.2</u>, neither Agent nor any Lender may take any action to foreclose on, or take possession of, the Collateral, accelerate the outstanding Initial Term Loans or otherwise exercise any rights or remedies under <u>Sections 11.2</u> or <u>11.3</u> or under any applicable Laws on the basis of any actual or purported Event of Default under the Minimum Liquidity Test (or any other Event of Default as a result thereof), until the date that is the earlier of (1) the date on which the Minimum Liquidity Test Cure Expiration Date has occurred without the Minimum Liquidity Test Cure Amount having been received and designated and (2) the date that Agent receives notice from Borrower that there will not be a Minimum Liquidity Test Cure Amount made for such Liquidity Test Date; <u>provided</u> that (a) there shall be no more than five (5) Minimum Liquidity Test Cure Amount elections made in the aggregate during any fiscal year and (b) there shall be no requirement to use the proceeds of any Minimum Liquidity Test Cure Amount to prepay the Initial Term Loans.

**SECTION 10.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Negative Covenants</u>**

On the Closing Date and at all times thereafter until and including the Termination Date, each of Parent and each other Credit Party agrees not to (and not to permit any of its Subsidiaries to):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Liens and Encumbrances</u>**. Mortgage, collaterally assign, pledge or otherwise permit any Lien to exist on any of the Collateral or its other assets, whether now owned or hereafter acquired, except for the Permitted Encumbrances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Indebtedness</u>**. Incur or create any Indebtedness other than the Permitted Indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;Sale of Assets</u>**. Sell, lease, assign, transfer or otherwise dispose of any assets, except for Permitted Dispositions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4.<u>&nbsp;&nbsp;&nbsp;&nbsp;Corporate Change</u>**. (a) Merge or consolidate with any other entity, or permit any other Person to merge into or consolidate with it or (b) liquidate or dissolve; <u>provided</u> that (i) any Subsidiary or any other Person (except Parent) may merge into or consolidate with Borrower in a transaction in which Borrower is the surviving corporation; (ii) any Person (other than Borrower or Parent) may merge into or consolidate with any Subsidiary in a transaction in which the surviving entity is a Subsidiary (<u>provided</u> that any such merger or consolidation involving a Guarantor must result in a Guarantor as the surviving entity or the surviving entity becoming a Guarantor as part of the transaction); (iii) in connection with any Investment permitted under <u>Section 10.7</u>, any Credit Party (except Parent) or any Subsidiary of a Credit Party may merge with or into or consolidate with any other Person (<u>provided</u> that (x) the Person surviving such merger or consolidation shall be a Subsidiary of Parent, (y) any such merger or consolidation involving a Guarantor must result in a Guarantor as the surviving entity or the surviving entity becoming a Guarantor as part of the transaction and (z) any such merger or consolidation involving Borrower must result in Borrower as the surviving Person); (iv) any Subsidiary may liquidate or dissolve if Borrower determines in good faith that such liquidation or dissolution is in the best interests of Borrower and is not disadvantageous to the Lenders; and any Subsidiary may consummate a Division as the Dividing Person if, immediately upon the consummation of the Division, all the assets of the applicable Dividing Person are held by one or more Subsidiaries at such time (<u>provided</u> that, if the applicable Dividing Person is a

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Credit Party, all of the assets of such Dividing Person shall be held by one or more Credit Parties at such time); (v) any Subsidiary (other than Borrower) may merge, dissolve, liquidate, amalgamate, consolidate with or into another Person in order to effect a Permitted Disposition; (vi) any Subsidiary may merge, dissolve, liquidate, amalgamate, consolidate with or into another Person or effect a Disposition of its assets or Property if (A) such transaction is undertaken in good faith to improve the tax efficiency of any direct or indirect parent of Borrower, Borrower, and/or any Subsidiary of Borrower, provided that such transaction does not result in any Lender being subject to any deduction or withholding of any Taxes other than Indemnified Taxes or Taxes to which such Lender was already subject prior to such transaction, and (B) after giving effect to such transaction, each of the security interest of Agent in the Collateral, taken as a whole, and the value of the Guarantees, taken as a whole, is not materially impaired; <u>provided</u> that, in the case of <u>clauses (v)</u> and <u>(vi)</u>, any such merger involving a Person that is not a wholly owned Subsidiary immediately prior to such merger shall not be permitted unless also such merger is also a Permitted Investment; and (vii) any Person (other than Borrower and any of its Subsidiaries) may merge into or consolidate with Parent in a transaction in which (I) Parent is the surviving corporation or (II) if the Person formed by or surviving any such merger or consolidation is not Parent, (x) (A) the successor Person expressly assumes all obligations of Parent under this Agreement and the other Loan Documents to which Parent is a party pursuant to a supplement hereto and/or thereof in a form reasonably satisfactory to Agent and (B) the successor Person will be a Person organized or existing under the laws of the United States of America, any State thereof or the District of Columbia or any territory thereto, and (y) Agent shall have received all documentation and other information required by regulatory authorities with respect to the successor Person under applicable "know your customer" and anti-money laundering rules and regulations, including without limitation the USA PATRIOT Act reasonably requested by the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5.<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>**[**<u>Reserved]</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6.<u>&nbsp;&nbsp;&nbsp;&nbsp;Restricted Payments</u>**. Declare, order, pay, make, or set apart any sum for any, Restricted Payment; <u>provided</u> that the foregoing shall not restrict or prohibit dividends or distributions or other Restricted Payments, directly or indirectly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;(i) by any Subsidiary of any Credit Party to such Credit Party (other than Parent) at any time and in any amount, (ii) by any wholly-owned Subsidiary that is not a Credit Party to any direct parent thereof and (iii) by any non-wholly-owned Subsidiary to Borrower or any of its other Subsidiaries that are Credit Parties and to each other owner of Equity Interests of such Subsidiary ratably based on their relative ownership interests of the relevant class of Equity Interests;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Borrower may declare and make dividends or other distributions payable solely in the form of additional Equity Interests of Borrower or Parent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Borrower may repurchase fractional shares of its Equity Interests (or Equity Interests of Parent) arising out of stock dividends, splits or combinations, business combinations or conversions of convertible securities or, so long as no Default or Event of Default then exists or would result therefrom, make cash settlement payments upon the exercise of warrants to purchase its Equity Interests (or Equity Interests of Parent), or "net exercise" or "net share settle" warrants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Borrower may redeem or otherwise cancel Equity Interests or rights in respect thereof granted to (or make payments on behalf of) directors, officers, employees or other providers of services to Parent, Borrower and the Subsidiaries in an amount required to satisfy tax withholding obligations relating to the vesting, settlement or exercise of such Equity Interests or rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Borrower may make Restricted Payments pursuant to and in accordance with stock option plans or other benefit plans or agreements for directors, management, employees or other

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eligible service providers of Borrower, Parent or its Subsidiaries, including the repurchase of Equity Interests or rights in respect thereof granted to directors, management, employees or other eligible service providers of Borrower or its Subsidiaries pursuant to a right of repurchase set forth in any such stock option plans or other benefit plans or agreements in connection with a cessation of service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;so long as no Default or Event of Default then exists or would result therefrom, Borrower may make Restricted Payments not otherwise permitted under this <u>Section 10.6</u> in an amount not to exceed the amount of proceeds of any substantially concurrent issuance of Equity Interests (other than Existing Convertible Notes) of Parent (or any parent company thereof) which have been contributed as common equity to Borrower or of any substantially concurrent issuance of Equity Interests of Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;purchases or redemptions of any of its Equity Interests to the extent such purchases and/or redemptions are funded solely with the proceeds of Qualified Equity Interests;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;to consummate the Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;purchases of receivables pursuant to a Receivables Repurchase Obligation in connection with a Qualified Receivables Factoring or Qualified Receivables Financing and the payment or distribution of Receivables Fees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Borrower may make and pay Restricted Payments to Parent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;with respect to any taxable period (x) for which Borrower and/or any of its Subsidiaries are members of a consolidated, combined, affiliated, unitary or similar income tax group for U.S. federal and/or applicable state or local income Tax purposes of which Parent is the common parent, or (y) for which Borrower or any of its Subsidiaries is a partnership or disregarded entity for U.S. federal income tax purposes that is wholly owned (directly or indirectly) by a C corporation for U.S. federal and/or applicable state or local income Tax purposes, in an amount not to exceed the amount of any U.S. federal, state and/or local income Taxes that Borrower and/or its Subsidiaries, as applicable, would have paid for such taxable period had Borrower and/or its Subsidiaries, as applicable, been a stand-alone corporate taxpayer or a stand-alone corporate group; <u>provided</u> that distributions pursuant to this clause (j) in respect of any Subsidiary that is not a Credit Party shall be permitted only to the extent that cash distributions were made by such Subsidiary to Borrower or any other Subsidiary that is a Credit Party for such purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;without duplication of any payment made pursuant to subclause (i) of this clause (j), with respect to any taxable period ending after the Closing Date for which Borrower and/or any of its Subsidiaries is a partnership or disregarded entity for U.S. federal income Tax purposes (other than a partnership or disregarded entity described in clause (j)(i)(y) above), distributions to its owners in amounts not to exceed (x) the taxable income of Borrower and/or such Subsidiaries for such fiscal year (as determined based on such assumptions as may be made by the managing member (or equivalent governing body) of Borrower and/or such Subsidiary, including, without limitation, not taking into account for this purpose for any such taxable period any adjustments under Sections 743(b) of the Code), multiplied by (y) the highest combined federal, state and local tax rates applicable to the income of individuals or corporations, resident of New York, New York, whichever is higher;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the proceeds of which shall be used to allow Parent to pay its operating costs and expenses incurred in the ordinary course of business and other reasonable corporate overhead costs and expenses (including administrative, legal, accounting and other professional costs and expenses) to the extent attributable to the ownership or operation of Borrower and its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the proceeds of which shall be used to allow Parent to pay fees and expenses related to any equity issuance or offering or debt issuance, incurrence or offering, Disposition or acquisition or investment transaction permitted by this Agreement, whether or not consummated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the proceeds of which shall be used to pay fees and expenses (including real and personal property Taxes, and franchise, excise or similar taxes) required to maintain its corporate existence or good standing under applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;travel expenses, customary salary, bonus, long-term incentive plan awards, severance and other benefits payable to, and indemnities provided on behalf of, directors, officers, members of management, employees and consultants of Parent, and any payroll, social security or similar taxes thereof, to the extent such fees, expenses, salaries, bonuses, other benefits and indemnities are attributable to the ownership or operation of Borrower and its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;so long as no Default or Event of Default then exists or would result therefrom and subject to Borrower being in compliance with <u>Section 9</u> immediately after giving pro forma effect to such Restricted Payment, the proceeds of which shall be used to (A) pay interest payments on the Existing Convertible Notes, including previously capitalized interest on Existing Convertible Notes which is required to be paid in cash and/or (B) redeem, defease, repurchase or retire, in whole or in part, the Existing Convertible Notes (including any premium, accrued interest, or fees payable in connection therewith);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;to pay reasonable monitoring, consulting, management, transaction, advisory, termination or similar fees relating to the ownership or operations of Borrower and/or its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;to pay audit and other accounting and reporting expenses at Parent to the extent relating to the ownership or operations of Borrower and/or its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;to pay insurance premiums (including director and officer, employment practices and other liability insurance) to the extent relating to the ownership or operations of Borrower and/or its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;&nbsp;&nbsp;the proceeds of which are used by Parent to redeem or otherwise cancel Equity Interests or rights in respect thereof granted to (or make payments on behalf of) directors, officers, employees or other providers of services to Parent, Borrower and the Subsidiaries in an amount required to satisfy tax withholding obligations relating to the vesting, settlement or exercise of such Equity Interests or rights; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;Borrower and its Subsidiaries may make cash payments of interest in respect of Subordinated Indebtedness, Indebtedness secured by a Lien on the Collateral on a junior basis to the

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Initial Term Loans or Indebtedness that is unsecured, in an aggregate amount not to exceed $10,000,000 in any fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;In any event and notwithstanding anything to the contrary contained in this Agreement, to the extent Borrower or any of its Subsidiaries is permitted to make a Restricted Payment to Parent for any of the foregoing purposes, Borrower or such Subsidiary may, alternatively, make any such payment directly to the applicable obligee or payee of Parent on its behalf for such purpose, which payment shall be treated as a permitted Restricted Payment hereunder.

For purposes of this <u>Section 10.6</u> and <u>Section 10.7</u>, if any Investment or Restricted Payment (or a portion thereof) would be permitted pursuant to one or more provisions described above and/or one or more of the exceptions contained in the definition of "Permitted Investments," Borrower may divide and classify such Investment or Restricted Payment (or a portion thereof) in any manner that complies with this <u>Section 10.6</u> and <u>Section 10.7</u> and may later divide and reclassify any such Investment or Restricted Payment so long as the Investment or Restricted Payment (as so divided and/or reclassified) would be permitted to be made in reliance on the applicable exception as of the date of such reclassification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7.<u>&nbsp;&nbsp;&nbsp;&nbsp;Investments</u>**. (i) Purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock or any Equity Interests in, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, any other Person, (ii) make any advance or loan to, or any Investment in, any Person, or (iii) purchase or otherwise acquire any assets of any other Person constituting a business unit, in each case other than Permitted Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8.<u>&nbsp;&nbsp;&nbsp;&nbsp;Related Party Transactions</u>**. Enter into any transaction, including any purchase, sale, lease, loan or exchange of Property, with any shareholder, officer, director, or Affiliate of Parent or any Subsidiary (other than between or among Parent, Borrower and/or any of its Subsidiaries to the extent not prohibited hereunder), other than: (a) to the extent otherwise specifically permitted by the terms and provisions of this Agreement; (b) those transactions described on <u>Schedule 10.8</u>; (c) on terms and conditions not less favorable to Parent or such Subsidiary than could be obtained on an arm's-length basis from unrelated third parties (as determined in good faith by Borrower); (d) payment of customary directors' fees, reasonable out-of-pocket expense reimbursement, indemnities (including the provision of directors and officers insurance) and compensation arrangements for members of the board of directors, officers or other employees of Parent or any of its Subsidiaries; (e) transactions approved by a majority of the disinterested directors of Borrower's board of directors; (f) any Restricted Payment permitted by <u>Section 10.6</u>; and (g) any transaction effected as part of a Qualified Receivables Financing or a Qualified Receivables Factoring.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.9.<u>&nbsp;&nbsp;&nbsp;&nbsp;Business Conducted</u>**. Engage to any material extent in any material line of business substantially different from those lines of business conduct or proposed to be conducted on the Closing Date or any business reasonably related, complementary, corollary, synergistic or ancillary thereto or reasonable extensions thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.10.<u>&nbsp;&nbsp;&nbsp;&nbsp;Prohibited Uses of Proceeds</u>**. Use the proceeds of any Loan made under this Agreement, directly or, to the knowledge of Borrower, indirectly, (a) for any improper payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, or any other party (if applicable) in order to obtain, retain or direct business or obtain any improper advantage, in violation of the FCPA or any other applicable anti-corruption law, (b) for the purpose of financing any activities or transactions of or with any Blocked Person or any Person listed on the OFAC Lists, or dealing or investments in or with any country or territory that is, or whose government is, the subject of Sanctions, in each case in violation of

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Sanctions and except to the extent permitted for a Person required to comply with any Sanctions, or (c) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.11.<u>&nbsp;&nbsp;&nbsp;&nbsp;Inconsistent Agreements</u>**. Enter into any agreement containing any provision which would (i) be violated or breached by any borrowing by Borrower hereunder or by the performance any Credit Party of any of its Obligations hereunder or under any other Loan Document, (ii) prohibit any Credit Party from granting to Agent and Lenders a Lien on any of its assets or (iii) create or permit to exist or become effective any encumbrance or restriction on the ability of any Credit Party to (x) pay dividends or make other distributions to Parent or any of its Subsidiaries, or pay any Indebtedness owed to Parent or any Subsidiary of Parent, (y) make loans or advances to any other Credit Party or (z) transfer any of its assets or properties to any other Credit Party; <u>provided</u> that (a) the foregoing shall not apply to restrictions and conditions imposed by law or by this Agreement or any other Loan Document, (b) the foregoing shall not apply to restrictions and conditions existing on the Closing Date identified on <u>Schedule 10.11</u> (and shall apply to any extension or renewal of, or any amendment or modification materially expanding the scope of, any such restrictions or conditions taken as a whole), (c) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary or assets of Parent or any Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary or assets to be sold and such sale is not prohibited hereunder, (d) the foregoing shall not apply to any agreement or restriction or condition in effect at the time any Subsidiary becomes a Subsidiary of Borrower, so long as such agreement was not entered into solely in contemplation of such Person becoming a Subsidiary of Borrower, (e) the foregoing shall not apply to customary provisions in joint venture agreements and other similar agreements applicable to joint ventures, (f) <u>clause (ii)</u> of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness, (g) <u>clause (ii)</u> of the foregoing shall not apply to customary provisions in leases, licenses, subleases and sublicenses and other contracts, (h) the foregoing shall not apply to restrictions or conditions set forth in any agreement governing Indebtedness not prohibited by <u>Section 10.2</u>; <u>provided</u> that such restrictions and conditions are customary for such Indebtedness, and (i) the foregoing shall not apply to restrictions on cash or other deposits (including escrowed funds) imposed under contracts entered into in the Ordinary Course of Business.

**SECTION 11.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Events of Default, Remedies and Indemnitees</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Events of Default</u>**. Each of the following events shall constitute an "**Event of Default**" under this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the failure of the Credit Parties to pay any (i) principal payable under this Agreement or any other Loan Document when the same shall be due and payable, whether at the due date thereof or at a date required for prepayment or by acceleration or otherwise, or (ii) interest, fees or other amount (other than principal) payable under this Agreement or any other Loan Document when the same shall be due and payable, whether at the due date thereof or at a date required for prepayment or by acceleration or otherwise, and the continuance of any such non-payment (in whole or in part) referred to under this clause (ii) for a period of two (2) Business Days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;if any representation, warranty or certification made or deemed made by any Credit Party to Agent or any Lender herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading in any material respect (or in any respect if such representation, warranty or certification is by its terms already qualified as to materiality) when made or deemed made and, to the extent capable of being cured, such representation, warranty or certification is not corrected within thirty (30) days after it was initially made;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the breach or violation by any Credit Party of any covenant contained in <u>Section 4.2</u>, <u>Section 8.6(b)</u>, <u>Section 8.10</u> (solely with respect to Parent's or Borrower's existence), <u>Section 8.12</u>, <u>Section 9.1</u> (subject to <u>Sections 9.2</u> and <u>9.3</u>) or <u>Section 10</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the breach or violation by any Credit Party of any covenant contained in <u>Sections 8.8(a)</u>; <u>Section 8.8(b)</u> or <u>Section 8.8(c)</u>, and the continuance of such breach or violation unremedied for a period of fifteen (15) days after the date on which such covenants are to be satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the breach or violation by any Credit Party of any covenant contained in this Agreement (other than those referred to in <u>Sections 11.1(a)</u>, <u>(c)</u> and <u>(d)</u> above), and the continuance of such breach or violation unremedied for a period of thirty (30) days after the earlier of (i) the date on which such failure shall first become known to any Senior Officer of any Credit Party or (ii) the date on which written notice of such default thereof is given to any Credit Party by Agent (at the written direction of the Required Lenders) or the Required Lenders (with a copy thereof provided to Agent);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;(i) the occurrence of any event of default (subject to <u>Section 11.1(d)</u> above and after giving effect to any applicable grace or cure period) under any of the other Loan Documents, or (ii) any of the Loan Documents ceases to be valid, binding and enforceable in accordance with its terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;the occurrence of any event of default (after giving effect to any applicable grace or cure period) under any instrument or agreement evidencing or governing any Indebtedness (other than any Indebtedness under the Loan Documents) of the Credit Parties (or any of them) having a principal amount in excess of $10,000,000, in each case, the result of which is to permit acceleration of the maturity of any such Indebtedness or require such Indebtedness to be repaid prior to its stated maturity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;(i) the commencement by any Credit Party of any bankruptcy, insolvency, arrangement, reorganization, receivership, assignment for the benefit of creditors or similar proceedings under any federal or state law; or (ii) the commencement against any Credit Party of any bankruptcy, insolvency, arrangement, reorganization, receivership, assignment for the benefit of creditors or similar proceeding under any federal or state law by creditors of any of them, but only if such proceeding is not dismissed or vacated within sixty (60) days after commencement, or any of the actions or relief sought in any such proceeding shall occur or be authorized by such Credit Party; or (iii) the failure of any Credit Party to generally meet its debts as those debts mature;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the occurrence of any ERISA Event that would reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;[reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;a Change of Control shall occur;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;a final non-appealable judgment for the payment of money in excess of $10,000,000 in the aggregate shall be rendered against the Credit Parties (or any one of them) (other than a judgment as to which a financially sound and reputable insurance company has not denied coverage), and either (i) within thirty (30) days after the entry of such judgment, such judgment shall not have been stayed pending appeal (or if stayed pending appeal, shall not have been discharged within the later of thirty (30) days after the entry of a final order of affirmance on appeal or the date by which any payment in respect thereof is due and payable), (ii) discharged within the later of thirty (30) days after the entry of such judgment or the date by which such payment is due and payable or (iii) enforcement proceedings shall be commenced by any holder of such judgment;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;any Guarantor shall by written action attempt to terminate its Guaranty Agreement or deny in writing that such Guarantor has any liability thereunder, or any Guaranty Agreement shall be declared null and void and of no further force and effect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;the validity or enforceability of any Loan Document shall at any time for any reason be declared to be null and void, or a proceeding shall be commenced by a Credit Party, or by any Government Authority having jurisdiction over a Credit Party, seeking to establish the invalidity or unenforceability thereof, or a Credit Party shall deny that such Credit Party has any liability or obligation purported to be created under any Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Remedies with Respect to Outstanding Loans</u>**. Upon the occurrence and during the continuance of a Default or an Event of Default, Agent may, at its option, and Agent shall, upon the request of Required Lenders, (a) declare all Obligations immediately due and payable and (b) charge Borrower the Default Rate of Interest on all then outstanding or thereafter incurred Obligations in lieu of the interest provided for in <u>Section 5.1</u>, and (c) immediately terminate Lenders' Commitments upon notice to Borrower. Notwithstanding the foregoing, Agent's and Lenders' obligations to Borrower under this Agreement automatically shall terminate and all Obligations shall become due and payable immediately without any declaration, notice or demand by Agent or Lenders, upon the commencement of any proceeding described in <u>clause (i)</u> of <u>Section 11.1(h)</u> or the occurrence of an Event of Default described in <u>clauses (ii)</u> or <u>(iii)</u> of <u>Section 11.1(h)</u>. The exercise of any option is not exclusive of any other option that may be exercised at any time by Agent or Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;Remedies with Respect to Collateral</u>**. Immediately after the occurrence and during the continuance of an Event of Default, Agent may, at its option, and Agent shall, upon the request of Required Lenders, to the extent permitted by applicable Law: (a) remove from any premises where same may be located any and all books and records, computers, electronic media and software programs associated with any Collateral (including electronic records, contracts and signatures pertaining thereto), documents, instruments and files, and any receptacles or cabinets containing same, relating to the Accounts, and Agent may use, at Borrower's expense, such of Borrower's personnel, supplies or space at Borrower's place of business or otherwise, as may be necessary to properly administer and control the Accounts or the handling of collections and realizations thereon; (b) bring suit, in the name of the Credit Parties (or any of them), Lenders or Agent on its behalf and the behalf of Lenders, and generally shall have all other rights respecting the Accounts, including the right to (i) accelerate or extend the time of payment, (ii) settle, compromise, release in whole or in part any amounts owing on any Accounts and (iii) issue credits in the name of the Credit Parties (or any of them) or Agent; (c) sell, assign and deliver the Collateral and any returned, reclaimed or repossessed merchandise, with or without advertisement, at public or private sale, for cash, on credit or otherwise, at Required Lenders sole option and discretion, and Agent (or its designee), on its behalf and on behalf of Lenders, may bid or become a purchaser at any such sale (to the extent permitted by applicable Laws), free from any right of redemption, which right is hereby expressly waived by the Credit Parties; (d) foreclose Agent's security interests in the Collateral by any available judicial procedure, or take possession of any or all of the Collateral without judicial process, and enter any premises where any Collateral may be located for the purpose of taking possession of or removing the same; and (e) exercise any other rights and remedies provided at law, in equity, by contract or otherwise. Agent shall have the right, without notice or advertisement but subject to applicable Law, to sell, lease, or otherwise dispose of all or any part of the Collateral whether in its then condition or after further preparation or processing, in the name of the Credit Parties (or any of them) or Agent, on behalf of Lenders, or in the name of such other party as Agent may designate, either at public or private sale or at any broker's board, in lots or in bulk, for cash or for credit, with or without warranties or representations (including warranties of title, possession, quiet enjoyment and the like), and upon such other terms and conditions as Agent in its sole discretion may deem advisable, and Agent shall have the right to purchase

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at any such sale on behalf of Lenders (to the extent permitted by applicable Laws). If any Inventory and Equipment shall require rebuilding, repairing, maintenance or preparation, Agent shall have the right, at its option and subject to applicable Law, to do such of the aforesaid as is necessary, for the purpose of putting the Inventory and Equipment in such saleable form as Agent shall deem appropriate. The Credit Parties agree, at the request of Agent and subject to applicable Law, to assemble the Inventory and Equipment, and to make it available to Agent at premises of the Credit Parties or elsewhere and to make available to Agent the premises and facilities of the Credit Parties for the purpose of Agent's taking possession of, removing or putting the Inventory and Equipment in saleable form. If notice of intended disposition of any Collateral is required by Law, it is agreed that ten (10) days' notice shall constitute reasonable notification. The proceeds resulting from Agent's exercise of any of the foregoing rights shall be applied by Agent to the payment of the Obligations in the order set forth in <u>Section 11.4</u> hereof, and the Credit Parties shall remain liable to Agent and Lenders for any deficiencies, and Agent, in turn, agrees to remit to the Credit Parties or their successors or assigns, any surplus resulting therefrom. The enumeration of the foregoing rights is not intended to be exhaustive and the exercise of any right shall not preclude the exercise of any other right of Agent or Lenders under applicable Law or the other Loan Documents, all of which shall be cumulative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.4.<u>&nbsp;&nbsp;&nbsp;&nbsp;Application of Proceeds</u>**. Following the occurrence and during the continuance of an Event of Default and after the acceleration of the principal amount of any of the Loans in accordance with Section 11.2, all payments and proceeds in respect of any of the Obligations received by Agent or any Lender under any Loan Documents, including any proceeds of any sale of, or other realization upon, all or any part of the Collateral, shall be applied by the Agent in the following order: (a) <u>first</u>, to all Out-of-Pocket Expenses, fees, indemnities, liabilities and obligations incurred by or owing to the Agent with respect to this Agreement, the other Loan Documents and the Collateral; (b) <u>second</u>, to all Out-of-Pocket Expenses, fees, indemnities, liabilities and obligations incurred by or owing to the Lenders with respect to this Agreement, the other Loan Documents and the Collateral; (c) <u>third</u>, to accrued and unpaid interest on the Obligations; (d) <u>fourth</u>, to the unpaid principal amount of the Obligations; (e) <u>fifth</u>, to any remaining unpaid Obligations; and (f) <u>sixth</u>, to Borrower or whoever else may be lawfully entitled thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.5.<u>&nbsp;&nbsp;&nbsp;&nbsp;General Indemnity</u>**. In addition to the Credit Parties agreement to reimburse Agent for Out-of-Pocket Expenses, but without duplication, each of the Credit Parties hereby agrees, on behalf of itself and of its successors (including any receiver or trustee acting on behalf of such Credit Party and any debtor-in-possession with respect to such Credit Party), to indemnify Agent and each of its respective Affiliates, officers, directors, employees, attorneys and agents and their respective successors, heirs and assigns (each, an "**<u>Agent Indemnitee</u>**") and Lenders and each of their respective Affiliates, officers, directors, employees, attorneys and agents and their respective successors, heirs and assigns (each, a "**<u>Lender Indemnitee</u>**"; together with the Agent Indemnitees, collectively, the "**<u>Indemnified Parties</u>**") from, and to defend and hold each Indemnified Party harmless against, any and all actual and out-of-pocket losses, liabilities, obligations, claims, actions, judgments, suits, damages, penalties, costs, fees and expenses (including reasonable and documented or invoiced out-of-pocket fees and expenses of (a) one primary counsel to the Agent Indemnitees, taken as a whole, and, if reasonably necessary, one local counsel to the Agent Indemnitees, taken as a whole, in each relevant material jurisdiction (which may include a single special counsel acting in multiple jurisdictions, in each case, in relevant jurisdictions material to the interests of the Agent Indemnitees and (b) one primary counsel to the Lender Indemnitees, taken as a whole, and, if reasonably necessary, one local counsel to the Lender Indemnitees, taken as a whole, in each relevant material jurisdiction (which may include a single special counsel acting in multiple jurisdictions, in each case, in relevant jurisdictions material to the interests of the Lender Indemnitees), and (c) solely in the case of an actual or perceived conflict of interest, where the Indemnified Party affected by such retains its own counsel, one additional firm of counsel in each relevant jurisdiction to each group of similarly situated affected Indemnified Parties)) of any kind or nature which at any time may be imposed on, incurred by, or asserted against, any Indemnified Party

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asserting any claim for legal or equitable remedy under any statute, regulation or common law principle arising from, in connection with, related to or as a result of the negotiation, preparation, execution, delivery, performance, administration and enforcement of this Agreement or any other Loan Document, the Obligations, any Collateral or the consummation of the transactions contemplated hereby or thereby; provided that such indemnity shall not, as to any Indemnified Party, be available to the extent that such losses, liabilities, obligations, claims, actions, judgments, suits, damages, penalties, costs, fees or expenses resulted from the gross negligence or willful misconduct of such Indemnified Party as determined by a final non-appealable judgment of a court of competent jurisdiction. All amounts due under this <u>Section 11.5</u> shall be paid promptly (but in any event not later than thirty (30) days) after demand therefor (together with reasonably detailed backup documentation supporting such reimbursement request); provided further, however, that such Indemnified Party shall promptly refund such amount to the extent that there is a final non-appealable judgment by a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification rights with respect to such payment pursuant to the express terms of this <u>Section 11.5</u>. The agreements in <u>Section 11.5</u> shall survive the termination of this Agreement and the other Loan Documents, the repayment of the Loans and the Obligations and the resignation of the Agent. This <u>Section 11.5</u> shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.6.<u>&nbsp;&nbsp;&nbsp;&nbsp;Authority</u>**. If an Event of Default shall have occurred and is continuing, the Credit Parties hereby authorize Agent, or any Person or agent which Agent may designate, at the Credit Parties' cost and expense, to exercise all of the following powers, which authority shall be irrevocable until the Termination Date to, after prior written notice to Borrower of Agent's intent to do so: (a) receive, take, endorse, sign, assign and deliver, all in the name of Agent or the Credit Parties (or any of them), any and all checks, notes, drafts, and other documents or instruments relating to the Collateral; (b) receive, open and dispose of all mail addressed to the Credit Parties (or any of them), and to notify postal authorities to change the address for delivery thereof to such address as Agent may designate; (c) request from customers indebted on Accounts at any time, in the name of Agent, information concerning the amounts owing on the Accounts; (d) request from customers indebted on Accounts at any time, in the name of the Credit Parties (or any of them), any certified public accountant designated by Agent or any other designee of Agent, information concerning the amounts owing on the Accounts; (e) transmit to customers indebted on Accounts notice of Agent's interest therein and to notify customers indebted on Accounts to make payment directly to Agent for Borrower's account; and/or (f) take or bring, in the name of Agent, Lenders, or the Credit Parties (or any of them), all steps, actions, suits or Proceedings deemed by Agent necessary or desirable to enforce or effect collection of the Accounts.

**SECTION 12.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Agency</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Appointment of Agent; Powers</u>**. Each Lender hereby irrevocably designates and appoints Alter Domus (US) LLC to act as Agent for such Lender under this Agreement and the other Loan Documents, and irrevocably authorizes Alter Domus (US) LLC, as Agent for such Lender, to take such action on its behalf under the provisions of this Agreement and the other Loan Documents, and to exercise such powers and perform such duties as are expressly delegated to Agent by the terms of this Agreement and the other Loan Documents, together with such other powers as are reasonably incidental thereto. In performing its functions under this Agreement, Agent is acting solely as an agent of Lenders, and Agent does not assume, and shall not be deemed to have assumed, an agency or other fiduciary relationship with the Credit Parties or any Lender. Without limiting the generality of the foregoing, Agent shall not have any (a) duty, responsibility, obligation or liability, except for those duties, responsibilities, obligations and liabilities expressly set forth in this Agreement, (b) fiduciary relationship

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with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or the other Loan Documents, or otherwise exist against Agent, (c) duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents); <u>provided</u> that Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose Agent to liability or that is contrary to any Loan Document or applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law, and (d) except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as Agent or any of its Affiliates in any capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Delegation of Agent's Duties</u>**. Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub agents appointed by Agent. Agent and any such sub agent may perform any and all of its duties and exercise its rights and powers by or through their respective related parties. The exculpatory provisions of this Article shall apply to any such sub agent and to the related parties of Agent and any such sub agent, and shall apply to their respective activities as Agent. Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that Agent acted with gross negligence or willful misconduct in the selection of such sub agents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;Disclaimer of Agent's Liabilities</u>**. Neither Agent nor any of its Affiliates, or its or its Affiliates' officers, directors, employees, agents, or attorneys shall be liable for any action lawfully taken or not taken by Agent or such Person under or in connection with this Agreement and the other Loan Documents. Without limiting the generality of the foregoing, Agent shall not be liable for (a) any recital, statement, representation or warranty made by the Credit Parties or any officer thereof contained in (i) this Agreement, (ii) any other Loan Document or (iii) any certificate, report, audit, statement or other document referred to or provided for in this Agreement or received by Agent under or in connection with this Agreement, (b) the value, validity, effectiveness, enforceability or sufficiency of this Agreement, the other Loan Documents or Agent's security interests in the Collateral, (c) any failure of the Credit Parties to perform their respective obligations under this Agreement and the other Loan Documents, (d) any loss or depreciation in the value of, delay in collecting the Proceeds of, or failure to realize on, any Collateral, (e) Agent's delay in the collection of the Obligations or enforcing Agent's rights against the Credit Parties, or the granting of indulgences or extensions to the Credit Parties, or any account debtor of the Credit Parties, or (f) any mistake, omission or error in judgment in passing upon or accepting any Collateral. In addition, Agent shall have no duty or responsibility to ascertain or to inquire as to the observance or performance of any of the terms, conditions, covenants or other agreements of the Credit Parties contained in this Agreement or the other Loan Documents, or to inspect, verify, examine or audit the assets, books or records of the Credit Parties at any time. Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Disqualified Institutions. Without limiting the generality of the foregoing, Agent shall not (i) be obligated to ascertain, monitor or inquire as to whether any Lender or Participant or prospective Lender or Participant is a Disqualified Institution or (ii) have any liability with respect to or arising out of any assignment or participation of Loans, or disclosure of confidential information, to any Disqualified Institution. The Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding (i) the existence, value or collectability of the Collateral, (ii) the existence, priority or perfection of the Agent's Lien thereon and (ii) the failure to monitor or maintain any

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portion of the Collateral. The Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders shall be necessary, or as Agent shall believe shall be necessary, under the circumstances); <u>provided</u> <u>that</u>, any action or omission to act taken by the Agent at the direction of the Required Lenders (or such other number or percentage of Lenders as shall be necessary, or as Agent shall believe shall be necessary, under the circumstances) shall not constitute gross negligence or willful misconduct of the Agent; or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction in a final and non-appealable judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.4.<u>&nbsp;&nbsp;&nbsp;&nbsp;Reliance and Action by Agent</u>**. Agent shall be entitled to rely, and shall be fully protected in relying, upon legal counsel, independent public accountants and experts selected by Agent, and shall not be liable to Lenders for any action taken or not taken in good faith based upon the advice of such counsel, accountants or experts. In addition, Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, facsimile, statement, order or other document believed by Agent in good faith to be genuine and correct, and to have been signed, sent or made by the proper Person or Persons. Agent shall be fully justified in taking or refusing to take any action under this Agreement and the other Loan Documents unless Agent (a) receives the advice or consent of Lenders or Required Lenders, as the case may be, in a manner that Agent deems appropriate, or (b) is indemnified by Lenders to Agent's satisfaction against any and all liability, cost and expense which may be incurred by Agent by reason of taking or refusing to take any such action. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of all Lenders or Required Lenders, as the case may be, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.5.<u>&nbsp;&nbsp;&nbsp;&nbsp;Events of Default</u>**. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless Agent has received written notice from the Credit Parties or a Lender conspicuously labeled as a "notice of default" and describing such Default or Event of Default with specificity. In the event that Agent receives such a notice, Agent shall promptly give notice thereof to all Lenders. Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by Lenders or Required Lenders, as the case may be, <u>provided</u> that (a) if appropriate, Agent may require indemnification from Lenders under <u>Section 12.7</u> prior to taking such action, (b) under no circumstances shall Agent have an obligation to take any action that Agent believes in good faith would violate any Law or any provision of this Agreement or the other Loan Documents, and (c) unless and until Agent shall have received direction from Lenders or Required Lenders, as the case may be, Agent may (but shall not be obligated to) take such action or refrain from taking action with respect to such Default or Event of Default as Agent shall deem advisable and in the best interests of Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.6.<u>&nbsp;&nbsp;&nbsp;&nbsp;Lenders' Due Diligence</u>**. Each Lender expressly acknowledges that neither Agent, nor any of its officers, directors, employees or agents, has made any representation or warranty to such Lender regarding the transactions contemplated by this Agreement or the financial condition of the Credit Parties, and such Lender agrees that no action taken by Agent hereafter, including any review of the business or financial affairs of the Credit Parties, shall be deemed to constitute a representation or warranty by Agent to any Lender. Each Lender also acknowledges that such Lender has, independently and without reliance upon Agent or any other Lender and based on such documents and information as such Lender has deemed appropriate, made its own credit analysis, appraisal of or investigation into the business, operations, property, financial condition and creditworthiness of the Credit Parties, and made its own decision to enter into this Agreement. Each Lender agrees, independently and without reliance upon Agent or any other Lender and based on such documents and information as such Lender shall deem appropriate at the time, (a) to continue to make its own credit analyses and appraisals in deciding whether to take or not take action under this Agreement and (b) to make such investigations as such Lender deems

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necessary to inform itself as to the business, operations, property, financial condition and creditworthiness of the Credit Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.7.<u>&nbsp;&nbsp;&nbsp;&nbsp;Right to Indemnification</u>**. Each Lender shall indemnify and hold harmless the Agent Indemnitees (to the extent not indefeasibly and timely indemnified by or on behalf of the Borrower and without limiting the obligation of the Credit Parties to do so), based on and to the extent of such Lender's pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), from and against any and all losses, claims, damages, liabilities and related expenses (including reasonable and documented or invoiced out-of-pocket fees and expenses of one primary counsel to the Agent Indemnitees, taken as a whole, and, if reasonably necessary, one local counsel to the Agent Indemnitees, taken as a whole, in each relevant material jurisdiction (which may include a single special counsel acting in multiple jurisdictions, in each case, in relevant jurisdictions material to the interests of the Agent Indemnitees)) of any kind or nature whatsoever which may at any time be imposed on, incurred by or asserted against any Agent Indemnitee in any way relating to or arising out of or in connection with this Agreement or any other Loan Document or any action taken or omitted to be taken by the Agent Indemnitees. Without limiting the foregoing, each Lender shall promptly following written demand therefor, pay or reimburse the Agent based on and to the extent of such Lender's pro rata share of all reasonable and documented out-of-pocket costs and expenses incurred in connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of any rights or remedies under this Agreement or the other Loan Documents (including reasonable and documented or invoiced out-of-pocket fees and expenses of one primary counsel to the Agent Indemnitees, taken as a whole, and, if reasonably necessary, one local counsel to the Agent Indemnitees, taken as a whole, in each relevant material jurisdiction (which may include a single special counsel acting in multiple jurisdictions, in each case, in relevant jurisdictions material to the interests of the Agent Indemnitees)). For purposes hereof, a Lender's "pro rata share" shall be determined based upon its share of the outstanding Loans and unused Commitments at such time (or if such indemnity payment is sought after the date on which the Loans have been paid in full and the Commitments are terminated in accordance with such Lender's pro rata share immediately prior to the date on which the Loans are paid in full and the Commitments are terminated). The agreements in this <u>Section 12.7</u> shall survive the termination of this Agreement and the other Loan Documents, the repayment of the Loans and the Obligations and the resignation of the Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.8.<u>&nbsp;&nbsp;&nbsp;&nbsp;Other Transactions</u>**. Agent and any Lender may make loans to and generally engage in any kind of business with Borrower, as though Agent or such Lender were not Agent or a Lender hereunder. With respect to loans made by Agent under this Agreement as a Lender, Agent shall have the same rights and powers, duties and liabilities under this Agreement and the other Loan Documents as any other Lender, and may exercise the same as though it were Agent, and the terms "Lender" and "Lenders" shall include Agent in its individual capacity as such.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.9.<u>&nbsp;&nbsp;&nbsp;&nbsp;Resignation of Agent</u>**. Agent may resign as Agent upon thirty (30) days' notice to Lenders and Borrower, and such resignation shall be effective on the earlier of (a) the appointment of a successor Agent by Required Lenders, subject, in the absence of an Event of Default, to the prior written consent of Borrower (which consent shall not be unreasonably withheld, conditioned or delayed) or (b) the date on which such 30-day period expires. If Agent provides Lenders and Borrower with notice of its intention to resign as Agent, Required Lenders agree to appoint a successor to Agent (which so long as no Event of Default has occurred and is continuing, such successor to Agent shall not be a Competitor, a Disqualified Institution or a Person who is reasonably characterized as a distressed debt fund, special situations funds or vulture fund (as reasonably determined by the Required Lenders)) as promptly as possible thereafter, whereupon such successor shall succeed to the rights, powers and duties of Agent, and the term "Agent" means such successor effective upon its appointment. Upon the effective date of an Agent's resignation, such Agent's rights, powers and duties as Agent shall be discharged, without any other or further act or deed on the part of such former Agent or any of the parties to this Agreement (except that in the case of any collateral security held by Agent on behalf of Lenders under any of the

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Loan Documents, the retiring or removed Agent shall continue to hold, as gratuitous bailee, such collateral security until such time as a successor Agent is appointed) and all payments, communications and determinations provided to be made by, to or through such Agent shall instead by made by or to each Lender directly, until such time, if any as the Required Lenders appoint a successor Agent as provided for above. After an Agent's resignation hereunder, the provisions of <u>Section 5.4</u>, <u>Section 5.6</u>, <u>Section 11.5</u> and this <u>Section 12</u>, shall continue in effect for the benefit of such retiring Agent, its sub agents and their respective related parties in respect of any actions taken or omitted to be taken by any of them while the retiring Agent was acting as Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.10.<u>&nbsp;&nbsp;&nbsp;&nbsp;Copies of Financial Information</u>**. Agent agrees, to provide Lenders with copies of all financial statements, projections and business plans of Borrower that Agent receives from Borrower or its advisors from time to time, without any duty to confirm or verify that such information is true, correct or complete.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.11.<u>&nbsp;&nbsp;&nbsp;&nbsp;Payments of Principal, Interest and Fees</u>**. After Agent's receipt of any principal payments, or any interest and fees earned under this Agreement, Agent agrees to remit promptly to Lenders its respective Pro Rata Percentages of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;fees payable by Borrower hereunder, provided that except as otherwise set forth herein, Lenders shall not share the fees required to be paid pursuant to <u>Section 5</u> of this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;principal and interest paid on the Initial Term Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.12.<u>&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>[Reserved]</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.13.<u>&nbsp;&nbsp;&nbsp;&nbsp;Agent May File Proofs of Claim</u>**. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to Borrower, Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether Agent shall have made any demand on Borrower) shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and Agent and their respective agents and counsel and all other amounts due the Lenders and Agent under <u>Sections 5.4</u> and <u>11.15</u>) allowed in such judicial proceeding; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to Agent and, in the event that Agent shall consent to the making of such payments directly to the Lenders, to pay to Agent any amount due for the reasonable compensation, expenses, disbursements and advances of Agent and its agents and counsel, and any other amounts due to Agent under <u>Section 11.5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.14.<u>&nbsp;&nbsp;&nbsp;&nbsp;Recovery of Erroneous Payments</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender hereby agrees that (i) if the Agent notifies such Lender that the Agent has determined in its sole discretion that any funds received by such Lender from the Agent or any of its Affiliates were erroneously or mistakenly transmitted to, or otherwise erroneously or mistakenly received by, such Lender (whether or not known to such Lender) (whether as a payment, prepayment or repayment of principal, interest, fees or otherwise; individually and collectively, an "<u>Erroneous</u> 

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<u>Payment</u>") and demands the return of such Erroneous Payment (or a portion thereof), such Lender shall promptly, but in no event later than one Business Day thereafter, return to the Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Lender to the date such amount is repaid to the Agent in same day funds at the greater of the Federal Funds Rate and a rate determined by the Agent in accordance with banking industry rules on interbank compensation from time to time in effect and (ii) to the extent permitted by applicable law, such Lender shall not assert any right or claim to the Erroneous Payment, and hereby waives any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Agent for the return of any Erroneous Payments received, including, without limitation, waiver of any defense based on "discharge for value" or any similar theory or doctrine. A notice of the Agent to any Lender under this <u>clause (a)</u> shall be conclusive, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Without limiting immediately preceding <u>clause (a)</u>, each Lender hereby further agrees that if it receives a payment from the Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in a notice of payment sent by the Agent, (y) that was not preceded or accompanied by notice of payment, or (z) that such Lender otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part), then in each case, if an error has been made each such Lender is deemed to have knowledge of such error at the time of receipt of such Erroneous Payment, and to the extent permitted by applicable law, such Lender shall not assert any right or claim to the Erroneous Payment, and hereby waives, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Agent for the return of any Erroneous Payments received, including without limitation waiver of any defense based on "discharge for value" or any similar theory or doctrine. Each Lender agrees that, in each such case, it shall promptly (and, in all events, within one Business Day of its knowledge (or deemed knowledge) of such error) notify the Agent of such occurrence and, upon demand from the Agent, it shall promptly, but in all events no later than one Business Day thereafter, return to the Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made in same day funds (in the currency so received), together with interest thereon in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Lender to the date such amount is repaid to the Agent in same day funds at the greater of the Federal Funds Rate and a rate determined by the Agent in accordance with banking industry rules on interbank compensation from time to time in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Borrower and each other Credit Party hereby agrees that (x) in the event an Erroneous Payment (or portion thereof) is not recovered from any Lender that has received such Erroneous Payment (or portion thereof) for any reason (and without limiting the Agent's rights and remedies under this <u>Section 12.14</u>), the Agent shall be subrogated to all the rights of such Lender with respect to such amount and (y) an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by the Borrower or any other Credit Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;In addition to any rights and remedies of the Agent provided by law, Agent shall have the right, without prior notice to any Lender, any such notice being expressly waived by such Lender to the extent permitted by applicable law, with respect to any Erroneous Payment for which a demand has been made in accordance with this <u>Section 12.14</u> and which has not been returned to the Agent, to set off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final but excluding trust accounts), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by Agent or any of its Affiliate, branch or agency thereof to or for

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the credit or the account of such Lender. Agent agrees promptly to notify the Lender after any such setoff and application made by Agent; provided, that the failure to give such notice shall not affect the validity of such setoff and application.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Each party's obligations under this <u>Section 12.14</u> shall survive the resignation of the Agent, the termination of the Commitments or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.15.<u>&nbsp;&nbsp;&nbsp;&nbsp;Certain ERISA Matters.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, Agent and not, for the avoidance of doubt, to or for the benefit of Borrower, that at least one of the following is and will be true:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;such Lender is not using "plan assets" (within the meaning of Section 3(42) of ERISA or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) of one or more Employee Benefit Plans with respect to such Lender's entrance into, participation in, administration of and performance of the Loans, the Commitments or this Agreement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the prohibited transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable so as to exempt from the prohibitions of Section 406 of ERISA and Section 4975 of the Code such Lender's entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;(A) such Lender is an investment fund managed by a "Qualified Professional Asset Manager" (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84- 14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender's entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;such other representation, warranty and covenant as may be agreed in writing between Agent, in its sole discretion, and such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In addition, unless either (1) <u>sub-clause (i)</u> in the immediately preceding <u>clause (a)</u> is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with <u>sub-clause (iv)</u> in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, Agent and not, for the avoidance of doubt, to or for the benefit of

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Borrower, that Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender's entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by Agent under this Agreement, any Loan Document or any documents related hereto or thereto).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.16.<u>&nbsp;&nbsp;&nbsp;&nbsp;</u><u>[Reserved]</u><u>Parallel Debt</u><u>.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(a)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>Each Credit Party irrevocably and unconditionally undertakes to pay to the Agent, as creditor in its own right and not as agent, trustee or representative of the Lenders (or class of Lenders), amounts equal to, and in the currency of, any amounts owing from time to time by such Credit Party to the Agent or any Secured Party under any Loan Document, as and when those amounts are due.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(b)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>Each Credit Party and Agent acknowledge that the Obligations of each Credit Party under clause (a) of this Section 12.16 are several and are separate and independent from, and shall not in any way limit or affect, the corresponding obligations of such Credit Party to any Lender under any Loan Document (its "</u>**<u>Corresponding Debt</u>**<u>") nor shall the amounts for which each Credit Party is liable under clause (a) of this Section 12.16 (for the purposes of this Section 12.16(b), its "</u>**<u>Parallel Debt</u>**<u>") be limited or affected in any way by its Corresponding Debt, provided that notwithstanding any other provision of this Agreement or the other Loan Documents:</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(i)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>the Parallel Debt of each Credit Party shall be automatically decreased and discharged to the extent that its Corresponding Debt has been irrevocably paid or (in the case of Guaranteed Obligations) discharged;</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(ii)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>the Corresponding Debt of each Credit Party shall be automatically decreased and discharged to the extent that its Parallel Debt has been irrevocably paid or (in the case of Guarantee Obligations) discharged;</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(iii)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>the amount of the Parallel Debt of a Credit Party shall at all times be equal to the amount of its Corresponding Debt;</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(iv)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>the aggregate amount outstanding owed by the Credit Parties under the Loan Documents (including under this Section 12.16) at any time shall not exceed the amount of the Corresponding Debt at that time; and</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(v)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>the Parallel Debt shall remain effective notwithstanding any transfer or assumption of any of the relevant Corresponding Debt in whole or in part to or by, respectively, any third party, irrespective of whether any such transfer or assumption is effected by way of assignment, assignment and transfer, assumption of contract, novation or otherwise.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(c)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>For the purpose of this Section 12.16, the Agent acts in its own name and not as a trustee, and its claims in respect of the Parallel Debt shall not be held in trust. The Agent shall have its own independent right to demand payment of the amounts payable by each Credit Party under this Section 12.16. The Collateral granted under this Agreement or any other Loan Document to the Agent to secure the Parallel Debt is granted to the Agent in its capacity as creditor of the Parallel Debt and shall not be held in trust.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(d)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>All moneys received or recovered by the Agent pursuant to this Section 12.16, and all amounts received or recovered by the Agent from or by the enforcement of any Collateral granted to secure the Parallel Debt, shall be applied in accordance with Section 11.4.</u>

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(e)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>Without limiting or affecting the Agent's rights against the Credit Parties (whether under this Section 12.16 or under any other provision of any Loan Document), each Credit Party acknowledges that:</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(i)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>nothing in this Section 12.16 shall impose any obligation on the Agent to advance any sum to any Credit Party or otherwise under any Loan Document; and</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(ii)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>for the purpose of any vote taken under any Loan Document, the Agent shall not be regarded as having any participation or commitment).</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.17.<u>&nbsp;&nbsp;&nbsp;&nbsp;[Reserved].</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.18.<u>&nbsp;&nbsp;&nbsp;&nbsp;Survival</u>**. The agreements in this Section 12 shall survive the termination of this Agreement and the other Loan Documents, the repayment of the Loans and the Obligations and the resignation of the Agent.

**SECTION 13.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Guaranty</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;The Guaranty</u>**. Each Guarantor hereby guarantees to each Lender and Agent as hereinafter provided, as primary obligor and not as surety, the prompt payment and performance of the Obligations in full when due (whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise) strictly in accordance with the terms thereof. Each Guarantor hereby further agrees that if any of the Obligations are not Paid in Full when due (whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise), each Guarantor will promptly pay the same, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of any of the Obligations, the same will be promptly Paid in Full when due (whether at extended maturity, as a mandatory prepayment, by acceleration or otherwise) in accordance with the terms of such extension or renewal (collectively, the "**<u>Guaranteed Obligations</u>**").

Subject to <u>Section 13.6</u> and the last sentence of this <u>Section 13.1</u> below, the Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right which Agent or any Lender may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Guaranteed Obligations to be paid when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code or any similar provision in any other Debtor Relief Laws), the Guarantors will, upon demand pay, or cause to be paid, in cash, to Agent for its benefit and the benefit of Lenders, an amount equal to the sum of the unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (including interest which, but for Borrower becoming the subject of a case under any Debtor Relief Laws, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against such Borrower for such interest in the related bankruptcy case) and all other Guaranteed Obligations then owed to Agent and Lenders as aforesaid.

Notwithstanding any provision to the contrary contained herein or in any other of the Loan Documents, the Guaranteed Obligations of each Guarantor under this Agreement and the other Loan Documents shall be limited to an aggregate amount equal to the largest amount that would not render such obligations subject to avoidance under any Debtor Relief Laws, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement,

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receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Obligations Unconditional</u>**. The Guaranteed Obligations of each Guarantor under <u>Section 13.1</u> are joint and several and absolute and unconditional, irrespective of the value, genuineness, validity, regularity or enforceability of any of the Loan Documents or any other agreement or instrument referred to therein, or any substitution, release, impairment or exchange of any other guarantee of or security for any of the Obligations, and, to the fullest extent permitted by applicable law, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this <u>Section 13.2</u> that the obligations of each Guarantor hereunder shall be absolute and unconditional under any and all circumstances. Each Guarantor agrees that such Guarantor shall have no right of subrogation, indemnity, reimbursement or contribution against Borrower or any other Guarantor for amounts paid under this <u>Section 13</u> until the Termination Date. Without limiting the generality of the foregoing, it is agreed that, to the fullest extent permitted by law, the occurrence of any one or more of the following shall not alter or impair the liability of any Guarantor hereunder, which shall remain joint and several and absolute and unconditional as described above:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;at any time or from time to time, without notice to any Guarantor, the time for any performance of or compliance with any of the Obligations shall be extended, or such performance or compliance shall be waived;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any of the acts mentioned in any of the provisions of any of the Loan Documents or any other agreement or instrument referred to in the Loan Documents shall be done or omitted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the maturity of any of the Obligations shall be accelerated, or any of the Obligations shall be modified, supplemented or amended in any respect, or any right under any of the Loan Documents or any other agreement or instrument referred to in the Loan Documents shall be waived or any other guarantee of any of the Obligations or any security therefor shall be released, impaired or exchanged in whole or in part or otherwise dealt with;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any Lien granted to, or in favor of, Agent or any Lender or Lenders as security for any of the Obligations shall fail to attach or be perfected;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any of the Obligations shall be determined to be void or voidable (including for the benefit of any creditor of any Guarantor) or shall be subordinated to the claims of any Person (including any creditor of any Guarantor); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;any other action or inaction shall occur that might constitute a surety defense (other than Payment in Full of the Obligations).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;Reinstatement</u>**. The Guaranteed Obligations of any Guarantor under this <u>Section 13</u> shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of any Person in respect of the Obligations is rescinded or must be otherwise restored by any holder of any of the Obligations, whether as a result of any Proceedings in bankruptcy or reorganization or otherwise, and the Guarantors, jointly and severally, agree that they will indemnify and hold harmless Agent and each Lender on demand for all reasonable costs and expenses (including fees and expenses of counsels) incurred by Agent or such Lender in connection with such rescission or restoration, including any such costs and expenses incurred in defending against any claim alleging that such payment constituted a

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preference, fraudulent transfer or similar payment under any bankruptcy, insolvency or similar law, in accordance with <u>Section 11.5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.4.<u>&nbsp;&nbsp;&nbsp;&nbsp;Waivers</u>**. Each Guarantor hereby waives, to the fullest extent permitted by law, for the benefit of Agent and Lenders: (a) any right to require Agent or any Lender, as a condition of payment or performance by such Guarantor, to (i) proceed against Borrower, any other guarantor (including any other Guarantor) of the Guaranteed Obligations or any other Person, (ii) proceed against or exhaust any security held from Borrower, any such other guarantor or any other Person, (iii) proceed against or have resort to any balance of any deposit account or credit on the books of Agent or any Lender in favor of Borrower or any other Person, or (iv) pursue any other remedy in the power of Agent and Lenders whatsoever; (b) any defense arising by reason of the incapacity, lack of authority or any disability or other defense of Borrower or any other Guarantor including any defense based on or arising out of the lack of validity or the unenforceability of the Guaranteed Obligations or any agreement or instrument relating thereto or by reason of the cessation of the liability of Borrower or any other Guarantor from any cause other than Payment in Full of the Guaranteed Obligations; (c) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal or any law, rule, regulation, or order of any jurisdiction affecting any term of the Guaranteed Obligations; (d) any defense based upon Agent's or any Lender's errors or omissions in the administration of the Guaranteed Obligations; (e) (i) any principles or provisions of law, statutory or otherwise, which are or might be in conflict with the terms hereof and any legal or equitable discharge of such Guarantor's obligations hereunder, (ii) the benefit of any statute of limitations affecting such Guarantor's liability hereunder or the enforcement hereof, (iii) any rights to set offs, recoupments and counterclaims, and (iv) promptness, diligence and any requirement that Agent and Lenders protect, secure, perfect or insure any security interest or Lien or any property subject thereto; (f) notices, demands, presentments, protests, notices of protest, notices of dishonor and notices of any action or inaction, including acceptance hereof, notices of default under any Loan Document, notices of any renewal, extension or modification of the Guaranteed Obligations or any agreement related thereto, notices of any extension of credit to Borrower and notices of any of the matters referred to in <u>Section 13.2</u> and any right to consent to any thereof; and (g) any defenses or benefits that may be derived from or afforded by law which limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms hereof (other than Payment in Full of the Obligations). Each Guarantor agrees that such Guarantor shall have no right of recourse to security for the Obligations, except through the exercise of rights of subrogation to the extent permitted by <u>Section 13.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.5.<u>&nbsp;&nbsp;&nbsp;&nbsp;Remedies</u>**. Each Guarantor agrees that, to the fullest extent permitted by law, as between such Guarantor, on the one hand, and Agent and Lenders, on the other hand, the Obligations may be declared to be forthwith due and payable as provided in <u>Section 11.2</u> (and shall be deemed to have become automatically due and payable in the circumstances provided in <u>Section 11.2</u>) for purposes of <u>Section 13.1</u> notwithstanding any stay, injunction or other prohibition preventing such declaration (or preventing the Obligations from becoming automatically due and payable) as against any other Person and that, in the event of such declaration (or the Obligations being deemed to have become automatically due and payable), the Obligations (whether or not due and payable by any other Person) shall forthwith become due and payable by each Guarantor for purposes of <u>Section 13.1</u>. Each Guarantor acknowledges and agrees that its Guaranteed Obligations hereunder are secured in accordance with the terms of the Loan Documents and that Agent and Lenders may exercise their remedies thereunder in accordance with the terms thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.6.<u>&nbsp;&nbsp;&nbsp;&nbsp;Contribution by Guarantors</u>**. All Guarantors desire to allocate among themselves (collectively, the "**<u>Contributing Guarantors</u>**"), in a fair and equitable manner, their obligations arising under this Guaranty. Accordingly, in the event any payment or distribution is made on any date by a Guarantor (a "**<u>Funding Guarantor</u>**") under this Guaranty such that its Aggregate Payments exceeds its Fair Share as of such date, such Funding Guarantor shall be entitled to a contribution from each of the

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other Contributing Guarantors in an amount sufficient to cause each Contributing Guarantor's Aggregate Payments to equal its Fair Share as of such date. "**<u>Fair Share</u>**" means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (a) the ratio of (i) the Fair Share Contribution Amount with respect to such Contributing Guarantor to (ii) the aggregate of the Fair Share Contribution Amounts with respect to all Contributing Guarantors multiplied by (b) the aggregate amount paid or distributed on or before such date by all Funding Guarantors under this Guaranty in respect of the Guaranteed Obligations. "**<u>Fair Share Contribution Amount</u>**" means, with respect to a Contributing Guarantor as of any date of determination, the maximum aggregate amount of the obligations of such Contributing Guarantor under this Guaranty that would not render its obligations hereunder or thereunder subject to avoidance as a fraudulent transfer or conveyance under Section 548 of the Bankruptcy Code or any similar provision in any other Debtor Relief Laws; <u>provided</u>, solely for purposes of calculating the "Fair Share Contribution Amount" with respect to any Contributing Guarantor for purposes of this <u>Section 13.6</u>, any assets or liabilities of such Contributing Guarantor arising by virtue of any rights to subrogation, reimbursement or indemnification or any rights to or obligations of contribution hereunder shall not be considered as assets or liabilities of such Contributing Guarantor. "**<u>Aggregate Payments</u>**" means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (1) the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Guaranty (including in respect of this <u>Section 13.6</u>), <u>minus</u> (2) the aggregate amount of all payments received on or before such date by such Contributing Guarantor from the other Contributing Guarantors as contributions under this <u>Section 13.6</u>. The amounts payable as contributions hereunder shall be determined as of the date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations as set forth in this <u>Section 13.6</u> shall not be construed in any way to limit the liability of any Contributing Guarantor hereunder. Each Guarantor is a third party beneficiary to the contribution agreement set forth in this <u>Section 13.6</u> and a right to receive any Fair Share Contribution Amount shall be deemed an asset of the Guarantor entitled to such amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.7.<u>&nbsp;&nbsp;&nbsp;&nbsp;Guarantee of Payment; Continuing Guarantee</u>**. The guarantee in this <u>Section 13</u> is an absolute and unconditional guaranty of payment and not of collection, is a continuing and irrevocable guarantee, and shall apply to all Obligations whenever arising.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>13.8.&nbsp;&nbsp;&nbsp;&nbsp;Subordination of Other Obligations</u>**. Any Indebtedness (including any right of subrogation or contribution) of Borrower or any Guarantor now or hereafter owing to any Guarantor (the "**Obligee Guarantor**") is hereby subordinated in right of payment to the Guaranteed Obligations, and any such indebtedness collected or received by the Obligee Guarantor after an Event of Default has occurred and is continuing shall be held in trust for Agent for its benefit and the benefit of Lenders and shall forthwith be paid over to Agent for its benefit and the benefit of Lenders to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of the Obligee Guarantor under any other provision hereof.

**SECTION 14.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Miscellaneous</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Termination</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in <u>Section 11.2</u> hereof, Required Lenders (acting through Agent) may terminate this Agreement and the Commitments hereunder only as of the Maturity Date. Borrower may terminate this Agreement and the Commitments hereunder at any time prior to the Maturity Date by written notice to Agent and in accordance with the terms of this Agreement, including, without limitation, <u>Sections 3.3(b)</u> and <u>3.3(c)</u>. A termination by Borrower shall be deemed to be a termination by all other Credit Parties. All Obligations (other than unasserted contingent indemnification

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and reimbursement Obligations) shall become due and payable in full on the earlier of the (a) Maturity Date or (b) Early Maturity Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;All of Agent's and Lenders' rights, Liens and security interests granted pursuant to the Loan Documents shall continue after any termination of this Agreement until the Termination Date; <u>provided</u> that upon the Termination Date, all of Agent's Liens and security interests in the Collateral shall be automatically released and terminated and Agent shall, upon the request and at the expense of Borrower, forthwith execute and deliver (or otherwise authorize the filing of) UCC termination statements and/or other documents reasonably requested by Borrower evidencing such termination, including Lien releases, discharges of security interests, re-assignments or releases of Trademarks, Copyrights and Patents, and other similar discharge or release documents (in recordable form, if applicable). Upon the request and at the expense of Borrower, Agent shall promptly execute and deliver a customary payoff letter, in a form reasonably satisfactory to Agent, setting forth the amounts required to be paid in order to effectuate the Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Waivers</u>**. Borrower hereby waives diligence, demand, presentment, protest and any notices thereof as well as notices of nonpayment, intent to accelerate and acceleration. No waiver of an Event of Default by Agent shall be effective unless such waiver is in writing and signed by Agent and Required Lenders. No delay or failure of Agent or Lenders to exercise any right or remedy hereunder, whether before or after the happening of any Event of Default, shall impair any such right or remedy, or shall operate as a waiver of such right or remedy, or as a waiver of such Event of Default. A waiver on any occasion shall not be construed as a bar to or waiver of any right or remedy on any future occasion. No single or partial exercise by Agent or Lenders of any right or remedy precludes any other or further exercise thereof, or precludes any other right or remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;Entire Agreement; Control</u>**. This Agreement and the other Loan Documents: (a) constitute the entire agreement among Borrower, Agent and/or Lenders; and (b) supersede any prior agreements. Should the provisions of any other Loan Document conflict with the provisions of this Agreement, the provisions of this Agreement shall apply and govern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.<u>&nbsp;&nbsp;&nbsp;&nbsp;Usury Limit</u>**. In no event shall Borrower, upon demand by Agent for payment of any Indebtedness relating hereto, by acceleration of the maturity thereof, or otherwise, be obligated to pay interest and fees in excess of the amount permitted by applicable Law. Regardless of any provision herein or in any agreement made in connection herewith, Agent and Lenders shall never be entitled to receive, charge or apply, as interest on any indebtedness relating hereto, any amount in excess of the maximum amount of interest permissible under applicable Law. If Agent or Lenders ever receive, collect or apply any such excess, it shall be deemed a partial repayment of principal and treated as such. If as a result, the entire principal amount of the Obligations is Paid in Full, any remaining excess shall be refunded to Borrower. This <u>Section 14.4</u> shall control every other provision of this Agreement, the other Loan Documents and any other agreement made in connection herewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.5.<u>&nbsp;&nbsp;&nbsp;&nbsp;Severability</u>**. If any provision hereof or of any other Loan Document is held to be illegal or unenforceable, such provision shall be fully severable, and the remaining provisions of the applicable agreement shall remain in full force and effect and shall not be affected by such provision's severance. Furthermore, in lieu of any such provision, there shall be added automatically as a part of the applicable agreement a legal and enforceable provision as similar in terms to the severed provision as may be possible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.6.<u>&nbsp;&nbsp;&nbsp;&nbsp;WAIVER OF JURY TRIAL; SERVICE OF PROCESS; CONSEQUENTIAL DAMAGES.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE CREDIT PARTIES, AGENT AND LENDERS HEREBY WAIVES ANY RIGHT** 

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**TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREUNDER. EACH CREDIT PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO SERVICE OF PROCESS BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, TO THE ADDRESS FOR NOTICE FOR BORROWER PURSUANT TO <u>SECTION 14.7</u> BELOW.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**IN NO EVENT WILL THE CREDIT PARTIES, AGENT, OR LENDERS BE LIABLE FOR LOST PROFITS OR OTHER SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS (EXCEPT AS IT RELATES TO THE INDEMNIFICATION PROVIDED BY THE CREDIT PARTIES IN SECTION 11.5).**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.7.<u>&nbsp;&nbsp;&nbsp;&nbsp;Notices</u>**. All notices, requests and other communications to any party hereunder shall be in writing (including prepaid overnight courier, email or similar writing) and shall be given to such party at its address or email address set forth below (or, in the case of any such Lender who becomes a Lender after the date hereof, in an assignment agreement or in a notice delivered to Borrower and Agent by the assignee Lender forthwith upon such assignment) or at such other address or email address as such party may hereafter specify for the purpose by notice to Agent and Borrower:

if to Agent, at:

Alter Domus (US) LLC<br>225 W. Washington Street, 9<sup>th</sup> Floor<br>Chicago, IL 60606

Attn: Legal Department – Agency, Matthew Trybula and Nick Keelen

Email: legal_agency@alterdomus.com, matthew.trybula@alterdomus.com and adpc@alterdomus.com

with a copy, not constituting notice, to:

Holland & Knight LLP<br>150 N. Riverside Plaza, Suite 2700<br>Chicago, IL 60606

Attention: Joshua M. Spencer

Email: joshua.spencer@hklaw.com and alterdomus@hklaw.com

and

Milbank LLP<br>2029 Century Park East, 33rd Floor<br>Los Angeles, CA 90067<br>Attn: Casey Fleck<br>Email: cfleck@milbank.com

if to any Credit Party, to Borrower at:

240 East Hacienda Avenue

Campbell, CA 95008

Attn: Mansi Khetani and Eric Batill

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Email: mansi.khetani@chargepoint.com, eric.batill@chargepoint.com

with a copy, not constituting notice, to:

Sidley Austin LLP

787 Seventh Avenue

New York, NY 10019

Attn: Nicholas Schwartz

E-mail: nschwartz@sidley.com

Each such notice, request or other communication shall be effective if given by mail, prepaid overnight courier or any other means, when received or when receipt is refused at the applicable address specified by this <u>Section 14.7</u>. Notices and other communications delivered through electronic communications to the extent provided in the paragraph below shall be effective as provided in such paragraph.

Agent or Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. Unless Agent otherwise prescribes, (i) notices and other communications sent to an email address shall be deemed received upon the sender's receipt of an acknowledgement from the intended recipient (such as by the "return receipt requested" function, as available, return email or other written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient, at its email address as described in the foregoing clause (i), of notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii) above, if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.8.<u>&nbsp;&nbsp;&nbsp;&nbsp;CHOICE OF LAW; VENUE</u>**. THE VALIDITY, INTERPRETATION AND ENFORCEMENT OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, EXCEPT TO THE EXTENT THAT ANY OTHER LOAN DOCUMENT INCLUDES AN EXPRESS ELECTION TO BE GOVERNED BY THE LAWS OF ANOTHER JURISDICTION . EACH CREDIT PARTY, EACH LENDER AND AGENT HEREBY CONSENTS TO THE JURISDICTION OF ANY COURT OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY (BOROUGH OF MANHATTAN) OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK AND IRREVOCABLY AGREES THAT, SUBJECT TO AGENT'S ELECTION, ALL ACTIONS OR PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS SHALL BE LITIGATED IN SUCH COURTS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.9.<u>&nbsp;&nbsp;&nbsp;&nbsp;[Reserved]</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.10.<u>&nbsp;&nbsp;&nbsp;&nbsp;Counterparts; Effectiveness of Electronic Documents and Signatures</u>**. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The parties hereto agree that "execution," "signed," "signature," and words of like import in this Agreement or any other Loan Document shall be deemed to include electronic signatures, authentication, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based record keeping system, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, the Electronic Signatures in

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Global and National Commerce Act, the Uniform Electronic Transactions Act as in effect in any state, the New York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309), or the Uniform Commercial Code, and the parties hereto hereby waive any objection to the contrary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.11.<u>&nbsp;&nbsp;&nbsp;&nbsp;Assignments; Participations.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Assignments</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;No Borrower shall have the right to assign this Agreement or any interest therein except with the prior written consent of Agent and all Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Any Lender may make, carry or transfer Loans at, to or for the account of, any Affiliate of such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender may, with the consent of Agent and Borrower (in each case, not to be unreasonably withheld) but without the consent of any other Lender, assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its Commitment(s) and the Loans at the time owing to it). For each such assignment, the parties thereto shall execute and deliver to Agent, for its acceptance and recording in the Register (as defined below), an Assignment and Transfer Agreement, to the extent that the assignee is not an existing Lender, all documentation and other information reasonably determined by the Agent to be required by applicable regulatory authorities under applicable "know your customer" and anti-money laundering rules and regulations, including the PATRIOT Act, and a processing and recordation fee of Three Thousand Five Hundred and No/100 Dollars ($3,500.00) to be paid by the assignee to the Agent; <u>provided</u> that, all or any portion of such processing and recordation fee may be waived by Agent in its sole discretion. No such assignment shall be for less than Five Hundred Thousand and No/100 Dollars ($500,000.00) (or, if less, all of the assignor's remaining Loans and Commitments). Upon such execution and delivery of the Assignment and Transfer Agreement to Agent, from and after the date the Assignment and Transfer Agreement is recorded in the Register, (x) the assignee thereunder shall be a party hereto, and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Transfer Agreement, such assignee shall have the rights and obligations of a Lender hereunder and (y) the assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Transfer Agreement, relinquish its rights (other than any rights it may have pursuant to this Agreement which by their terms will survive) and be released from its obligations under this Agreement (and, in the case of an Assignment and Transfer Agreement covering all or the remaining portion of an assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto). Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender's rights and obligations under this Agreement; <u>provided</u> that this sentence shall not be construed to prohibit the assignment of a proportionate part of all the assigning Lender's rights and obligations in respect of one class of Commitments or Loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;By executing and delivering an Assignment and Transfer Agreement, the assignee thereunder confirms and agrees as follows: (a) other than as provided in such Assignment and Transfer Agreement, the assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Agreement and the other Loan Documents or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement or any of the other

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Loan Documents, (b) such assigning Lender makes no representation or warranty and assumes no responsibility with respect to the financial condition of any Credit Party or the performance or observance by any Credit Party of its obligations under this Agreement, (c) such assignee confirms that it has received a copy of this Agreement and the other Loan Documents, together with copies of the financial statements referred to in <u>Section 8.8</u> and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and Transfer Agreement, (d) such assignee will, independently and without reliance upon Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement, (e) such assignee appoints and authorizes Agent to take such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to Agent by the terms hereof, together with such powers as are reasonably incidental thereto, (f) such assignee agrees that it will perform in accordance with their terms all of the obligations which by the terms of this Agreement are required to be performed by it as a Lender and (g) such assignment and such assignee are in compliance with all applicable securities Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Agent, acting solely for this purpose as a non-fiduciary agent of Borrower, shall maintain a copy of each Assignment and Transfer Agreement delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the "**<u>Register</u>**"). The entries in the Register shall be conclusive absent manifest error, and Borrower, Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;Upon its receipt of an Assignment and Transfer Agreement executed by an assigning Lender, Agent shall, if such Assignment and Transfer Agreement has been completed and is in substantially the form of <u>Exhibit A</u> hereto, (a) accept such Assignment and Transfer Agreement, (b) record the information contained therein in the Register and (c) give prompt notice thereof to Borrower if such Assignment and Transfer Agreement is to a Person that is not a Lender or an Affiliate of a Lender. Within five (5) Business Days after its receipt of such notice, Borrower shall execute and deliver to assignee in exchange for the surrendered Promissory Note or Promissory Notes, a new Promissory Note or Promissory Notes to the assignee in amounts equal to such assignee's Commitments and outstanding Loans hereunder and, if the assigning Lender has retained a portion of the Loans, a new Promissory Note or Promissory Notes to the assigning Lender in an amount equal to the remaining Commitments and outstanding Loans hereunder of such assigning Lender under the terms of this Agreement. Such new Promissory Note or Promissory Notes shall re-evidence the indebtedness outstanding under the old Promissory Note or Promissory Notes and shall be in the aggregate principal amount of such surrendered Promissory Note or Promissory Notes, shall be dated of even date herewith and shall otherwise be in substantially the form of the Promissory Note or Promissory Notes subject to such assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;Except to the extent set forth in the definition of "Eligible Assignee", no assignment shall be made to any Disqualified Institution; <u>provided</u> that, notwithstanding anything in this Agreement or any other Loan Document to the contrary, each Credit Party and the Lenders acknowledge and agree that Agent shall not be responsible or have any liability for, or have any

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duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Disqualified Institutions. Without limiting the generality of the foregoing, Agent shall not (x) be obligated to ascertain, monitor or inquire as to whether any Lender or Participant or potential Lender or Participant is a Disqualified Institution or (y) have any liability with respect to or arising out of any assignment or participation of Loans, or disclosure of confidential information, to, or the restrictions on any exercise of rights or remedies of, any Disqualified Institution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**<u>Participations and Financings</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Each Lender may sell participations (without the consent of Agent, any Credit Party or any other Lender) to one or more Eligible Assignees (each, a "**<u>Participant</u>**"), in or to all (or a portion) of its rights and obligations under this Agreement (including all or a portion of the Commitments or the Loans owing to it); <u>provided</u> that (i) such Lender's obligations under this Agreement shall remain unchanged; (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; (iii) Borrower, Agent, and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement; (iv) such Lender shall not transfer, grant, assign or sell any participation under which the Participant shall have rights to approve any amendment or waiver of this Agreement; and (v) each such Lender selling such participations complies with the Participant Register provisions described below. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant's interest in the Loans, Commitments or other obligations under the Loan Documents (the "**<u>Participant Register</u>**"); <u>provided</u> that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant's interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan or other obligation is in "registered form" for the purposes of the Code, including under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error and no participation shall be transferable except as recorded in the Participant Register. Such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, Agent (in its capacity as Agent) shall have no responsibility for maintaining a Participant Register. Each Participant shall be entitled to the benefits of <u>Sections 5.5</u> and <u>5.6</u> (subject to the requirements and limitations therein, including the requirements under <u>Section 5.6(f)</u> (it being understood that the documentation required under <u>Section 5.6(e)</u> shall be delivered to the participating Lender)) as if it were a Lender and had acquired its interest by assignment pursuant to <u>paragraph (a)</u> of this Section; <u>provided</u> that such Participant (A) agrees to be subject to the provisions of <u>Section 5.8</u> as if it were an assignee under paragraph (a) of this Section; and (B) shall not be entitled to receive any greater payment under <u>Section 5.6</u>, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;In connection with the efforts of any Lender to assign its rights or obligations or to participate in interests, subject to compliance with applicable Laws, such Lender

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may disclose any information in its possession regarding the Credit Parties in compliance with <u>Section 14.14</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.12.<u>&nbsp;&nbsp;&nbsp;&nbsp;Sharing of Liabilities</u>**. In the event that Agent or any Lender is sued or threatened with a suit, action or claim by any Credit Party, or by a creditor, committee of creditors, trustee, receiver, liquidator, custodian, administrator or other similar official acting for or on behalf of the Credit Parties (or any of them), on account of (a) any preference, fraudulent conveyance or other voidable transfer alleged to have occurred or been received as a result of the operation of this Agreement or the transactions contemplated hereby, or (b) any lender liability theory based on any action taken or not taken by such Person in connection with this Agreement or the transactions contemplated hereby, any money paid in satisfaction or compromise of such suit, action, claim or demand, and any expenses, costs and attorneys' fees paid or incurred in connection therewith (whether by Agent or any Lender), shall be shared proportionately by Agent and the Lenders according to their respective Pro Rata Percentages, except to the extent that such Person's own gross negligence or willful misconduct directly gave rise to such suit, action or claim, as determined by a court of competent jurisdiction in a final and non-appealable judgment. In addition, any costs, expenses, fees or disbursements incurred by agents or attorneys retained by Agent to collect the Obligations or enforce any rights in the Collateral, including enforcing, preserving or maintaining rights under this Agreement, shall be shared among Lenders according to their respective Pro Rata Percentages to the extent not reimbursed by Borrower or from the Proceeds of Collateral. The provisions of this <u>Section 14.12</u> shall not apply to any Proceedings or claims that (a) are filed or asserted prior to the Closing Date or (b) are based on transactions, actions or omissions occurring prior to the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.13.<u>&nbsp;&nbsp;&nbsp;&nbsp;Exercise of Setoff Rights</u>**. The Credit Parties authorize each Lender, and each Lender shall have the right, after the occurrence and during the continuance of an Event of Default, without notice, to setoff and apply against any and all Property of any Credit Party held by, or in the possession of such Lender, any of the Obligations owed to such Lender. Notwithstanding the foregoing, each Lender hereby agrees with each other Lender that no Lender shall independently take any action to enforce or protect its rights arising out of this Agreement or any other Loan Document (including the exercise of any right of setoff) without first obtaining the prior written consent of Agent or Required Lenders, it being the intent of Lenders that any such action shall be taken in concert and at the direction of Agent or Required Lenders. Each Lender agrees promptly to notify Borrower, Agent and each other Lender after any such setoff and application made by such Lender, <u>provided</u> that the failure to give such notice shall not affect the validity of such setoff and application.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.14.<u>&nbsp;&nbsp;&nbsp;&nbsp;Confidentiality</u>**. Agent and each Lender agree to use commercially reasonable efforts (equivalent to the efforts Agent or such Lender applies to maintain the confidentiality of its own confidential information) to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed by Agent and each Lender (a) to its and its Affiliates' directors, officers, employees and agents, including accountants, Rating Agencies (as defined below), portfolio management servicers, legal counsel and other advisors on a need to know basis (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to its funding sources and such funding sources' current or prospective investors, (c) to the extent requested by any regulatory authority (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (d) to the extent required by applicable Law or by any subpoena or similar legal process; <u>provided</u> that Agent or such Lender, as applicable, agrees that it will notify Borrower as soon as practicable in the event of any such disclosure by such Person unless such notification is prohibited by applicable Law, (e) to any other party to this Agreement, (f) in connection with the exercise of any remedies hereunder or any Proceeding relating to this Agreement or any of the other Loan Documents or the enforcement of rights hereunder or thereunder, (g) subject to an agreement containing provisions substantially the same as those of this

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<u>Section 14.14</u> to any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement, (h) with the consent of Borrower or (i) to the extent such Information (x) becomes publicly available, other than as a result of a breach of this <u>Section 14.14</u> or other written obligation of confidentiality owed to the Credit Parties or their respective Affiliates (y) becomes available to Agent or any Lender on a nonconfidential basis from a source other than a Credit Party (so long as such source is not actually known to Agent or such Lender to be bound by confidentiality obligations to any Credit Party or their respective Affiliates). Notwithstanding the foregoing, Agent and each Lender may disclose to any and all Persons, without limitation of any kind, the tax treatment and tax structure of the transactions described herein and all materials of any kind (including opinions and tax analysis) that have been provided to such Persons relating to the tax treatment and tax structure of the transactions described herein (it being understood that this authorization is retroactively effective to the commencement of the first discussions between or among any of the parties regarding the transactions described herein). For the purposes of this <u>Section 14.14</u>, (i) "**<u>Information</u>**" means all information received from any Credit Party relating to any Credit Party or its business, other than any such information that is available to Agent or any Lender on a nonconfidential basis prior to disclosure by such Credit Party; <u>provided</u> that, in the case of Information received from a Credit Party after the date hereof, such Information is clearly identified as confidential at the time of delivery, and any Person required to maintain the confidentiality of Information as provided in this <u>Section 14.14</u> shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information; and (ii) "**<u>Rating Agencies</u>**" means Moody's Investor Services, Inc., Standard and Poor's Financial Services LLC, Fitch Ratings Inc., or any other nationally recognized rating agency or service. The obligations of any Person required to maintain the confidentiality of Information as provided in this <u>Section 14.14</u> shall continue with respect to any item of Information for only so long as the item of Information has or retains a confidential nature, but in no event beyond a period of two (2) years from the date of delivery of such item of Information to such Person. In no event shall Agent or any Lender be obligated or required to return any Information or other materials furnished by a Credit Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.15.<u>&nbsp;&nbsp;&nbsp;&nbsp;Amendments; Agent's Discretionary Rights</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;No provision of this Agreement or any other Loan Document may be amended, waived or otherwise modified unless such amendment, waiver or other modification is in writing and is signed by Borrower, the Agent and Required Lenders (and, if any amendment, waiver or other modification would increase such Lender's funding obligations in respect of any Loan, by such Lender); <u>provided</u> that no such amendment, waiver or other modification shall, (a) unless signed by each Lender directly affected thereby, amend or waive Borrower's compliance with any term or provision of this Agreement, if the effect of such amendment or waiver would be to (i) reduce the principal of, or rate of interest on, the Loans (other than the application of Default Rate of Interest and with respect to any mandatory prepayments under <u>Section 3.3(d)</u>), (ii) reduce or waive the payment of any fee in which all Lenders share hereunder or (iii) extend the Maturity Date or the date fixed for payment of any installment of principal thereof or any interest or fee; or (b) unless signed by each Lender, (i) alter or amend the definition of "Required Lenders", (ii) except as otherwise expressly permitted or required hereunder, release all or substantially all of the Collateral or Guaranties in any transaction or series of related transactions; or (iii) amend any provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder. In all other respects Agent is authorized to take or to refrain from taking any action which Agent, in the exercise of its reasonable business judgment, deems to be advisable and in the best interest of Lenders, unless this Agreement specifically requires Borrower or Agent to obtain the consent of, or act at the direction of, Required Lenders. Without limiting the generality of the foregoing sentence, and notwithstanding any other provision of this Agreement to the contrary, Agent shall have the right in its sole discretion to (i) release (or evidence the release of) any Lien on any property granted to or held by

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Agent and/or any Lender under any Loan Document (1) upon the Termination Date, (2) that is sold or otherwise disposed of as part of or in connection with any sale or other Permitted Disposition permitted hereunder or under any Involuntary Disposition, or (3) as approved in accordance with <u>Section 14.15</u>; (ii) subordinate any Lien on any Property granted to or held by Agent and/or any Lender under any Loan Document to the holder of any Lien on such Property securing Permitted Purchase Money Indebtedness; and (iii) amend any provision of this Agreement or the other Loan Documents in order to cure any error, ambiguity, defect or inconsistency set forth therein. In the event Agent or Required Lenders terminate this Agreement pursuant to the terms hereof, Required Lenders agree to cease making additional loans or advances upon the effective date of termination. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased or extended, and a change in the principal of, or interest on, the Loans made by such Defaulting Lender and any date fixed for payment of principal of, or interest on, the Loans made by such Defaulting Lender may not be made without the consent of such Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, any provision of this Agreement may be amended (or amended and restated) by an agreement in writing entered into by Borrower, the Required Lenders and Agent if (i) by the terms of such agreement, the Commitments of each Lender not consenting to the amendment provided for therein shall terminate upon the effectiveness of such amendment and (ii) at the time such amendment becomes effective, each Lender not consenting thereto receives payment in full of all amounts owing to it or accrued for its account under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Lenders hereby authorizes Agent and Borrower to correct any patent or scrivener's errors or other erroneous content in any Loan Document, date any dates and fill in any blanks or other missing items in any Loan Document and replace or substitute pages in each Loan Document that were changed to correct such errors or fill in such dates, missing content or blanks, in each case, without the need for a written amendment signed by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained in this Agreement, any Lender may exchange, continue or rollover all or a portion of its Loans in connection with any refinancing, extension, loan modification or similar transaction permitted by the terms of this Agreement, pursuant to a cashless settlement mechanism approved by Borrower and such Lender.

**SECTION 15.<u>&nbsp;&nbsp;&nbsp;&nbsp;<br>Securities Laws</u>**

In order to induce Borrower and each other Credit Party to enter into this Agreement, (x) each Lender makes the following representations and warranties to Borrower and each other Credit Party which shall be true, correct, and complete, in all material respects, as of the Closing Date and (y) with respect to <u>Section 15.3</u>, on the Closing Date and at all times thereafter until and including the Termination Date, each Lender agrees not to, and such representations, warranties and covenants shall survive the execution and delivery of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.1.<u>&nbsp;&nbsp;&nbsp;&nbsp;Interest Shares</u>**. Such Lender understands that the Interest Shares are "restricted securities" and have not been registered under the Securities Act or any applicable state securities Laws and is acquiring such Interest Shares as principal for its own account and not with a view to or for distributing or reselling such Interest Shares or any part thereof in violation of the Securities Act or any applicable state securities Laws, has no present intention of distributing any of such Interest Shares in

------

violation of the Securities Act or any applicable state securities Laws, and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of such Interest Shares in violation of the Securities Act or any applicable state securities Laws. Such Lender hereby represents and warrants that, as of the date of this Agreement, it is a "qualified institutional buyer" (as defined in Rule 144A under the Securities Act) or an institutional "accredited investor" as that term is defined in Rule 501(a) under Regulation D promulgated pursuant to the Securities Act and has such knowledge and experience in financial and business matters as to be able to protect its own interests in connection with an investment in Parent's securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.2.<u>&nbsp;&nbsp;&nbsp;&nbsp;Legends</u>**. Such Lender understands that any certificates or book entry notations evidencing the Interest Shares may bear one or more legends in substantially the following form and substance:

"THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED UNLESS (I) SUCH SECURITIES HAVE BEEN REGISTERED FOR SALE PURSUANT TO THE SECURITIES ACT, (II) SUCH SECURITIES MAY BE SOLD PURSUANT TO RULE 144, (III) BORROWER HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO IT THAT SUCH TRANSFER MAY LAWFULLY BE MADE WITHOUT REGISTRATION UNDER THE SECURITIES ACT, OR (IV) THE SECURITIES ARE TRANSFERRED WITHOUT CONSIDERATION TO AN AFFILIATE OF SUCH HOLDER OR A CUSTODIAL NOMINEE (WHICH FOR THE AVOIDANCE OF DOUBT SHALL REQUIRE NEITHER CONSENT NOR THE DELIVERY OF AN OPINION)."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.3.<u>&nbsp;&nbsp;&nbsp;&nbsp;No Hedging</u>**. Such Lender and its Affiliates will not, during the period commencing on the date hereof through and including September 16, 2026, directly or indirectly, (a) engage in any short sale of Common Stock, or (b) enter into or effect any transaction in swaps, options, forwards or other derivative instruments or arrangements (including any cash-settled transactions) that are designed to or could reasonably be expected to result in any of such Lender or its Affiliates establishing a net short position with respect to the Common Stock.

**[SIGNATURE PAGES FOLLOW]**

## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION**

**PURSUANT TO RULES 13a-14(a) AND 15d-14(a)**

**UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO**

**SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Rick Wilmer, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this quarterly report on Form 10-Q for the quarter ended April 30, 2026 of ChargePoint Holdings, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| June 8, 2026 |  |  |
|  | By: | /s/ Rick Wilmer |
|  |  | Rick Wilmer |
|  |  | Chief Executive Officer |
|  |  | (Principal Executive Officer) |

---

## Exhibit 31.2

**EXHIBIT 31.2**

**CERTIFICATION**

**PURSUANT TO RULES 13a-14(a) AND 15d-14(a)**

**UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO**

**SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Mansi Khetani, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this quarterly report on Form 10-Q for the quarter ended April 30, 2026, of ChargePoint Holdings, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| June 8, 2026 |  |  |
|  | By: | /s/ Mansi Khetani |
|  |  | Mansi Khetani |
|  |  | Chief Financial Officer |
|  |  | (Principal Financial Officer) |

---

## Exhibit 32.1

**EXHIBIT 32.1**

**CERTIFICATION PURSUANT TO**

**18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with this quarterly report on Form 10-Q of ChargePoint Holdings, Inc. (the "Company") for the quarter ended April 30, 2026, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Rick Wilmer, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company for the period covered by the Report.

---

| | | |
|:---|:---|:---|
| June 8, 2026 |  | /s/ Rick Wilmer |
|  | By: | Rick Wilmer |
|  |  | Chief Executive Officer |
|  |  | (Principal Executive Officer) |

---

## Exhibit 32.2

**EXHIBIT 32.2**

**CERTIFICATION PURSUANT TO**

**18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with this quarterly report on Form 10-Q of ChargePoint Holdings, Inc. (the "Company") for the quarter ended April 30, 2026, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Mansi Khetani, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company for the period covered by the Report.

---

| | | |
|:---|:---|:---|
| June 8, 2026 |  |  |
|  | By: | /s/ Mansi Khetani |
|  |  | Mansi Khetani |
|  |  | Chief Financial Officer |
|  |  | (Principal Financial Officer) |

---

<br>