Document:

EX-10.1

 Exhibit 10.1 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (the “Agreement”) is made as of the 28th day of April, 2020, by and between Olo Inc., a Delaware corporation (the “Company”), and each of the investors listed on Schedule A hereto, each of which is referred to in
this Agreement as an “Investor”, and each of the Key Holders listed on Schedule B hereto that becomes a party to this Agreement by executing and delivering to the Company a counterpart signature page hereto (which such person
shall thereupon be deemed an “Investor” for all purposes of this Agreement). Capitalized terms used but not defined herein shall have the same meanings given them in the Purchase Agreement (as defined below). 

RECITALS 
 WHEREAS
certain of the Investors (the “New Investors”) are purchasing shares of the Company’s Series E Preferred Stock, pursuant to the Series E Preferred Stock Purchase Agreement (the “Purchase Agreement”) of even
date herewith (the “Financing”); and 
 WHEREAS, in order to induce the Company to enter into the Purchase Agreement
and to induce the New Investors to invest funds in the Company pursuant to the Purchase Agreement, the New Investors and the Company wish to enter into the Agreement; and 

WHEREAS, certain Investors (the “Prior Investors”) are holders of the Company’s Series A Preferred Stock, Series A-1 Preferred Stock, Series B Preferred Stock, Series C Preferred Stock and/or Series D Preferred Stock; and 

WHEREAS, the Prior Investors and the Company are parties to an Amended and Restated Investor Rights Agreement dated January 12,
2016, as amended from time to time, (the “Prior Agreement”); and 
 WHEREAS, the parties to the Prior Agreement
desire to amend and restate the Prior Agreement and accept the rights and covenants hereof in lieu of their rights and covenants under the Prior Agreement; and 

WHEREAS, in connection with the consummation of the Financing, the Company and the Investors have agreed to the registration rights,
information rights, and other rights as set forth below. 
 NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS: 

1. Definitions. For purposes of this Agreement: 

1.1 The term “Affiliate” shall mean with respect to any individual, corporation, partnership, association, trust, or any other
entity (in each case, a “Person”), any Person which, directly or indirectly, controls, is controlled by or is under common control with such Person, including, without limitation any general partner, managing member, officer or
director of such Person and any venture capital or other investment fund now or hereafter existing which is controlled by or under common control with one or more general partners or managing members of, or shares the same management company or
investment adviser with, such Person. Tiger Global Private Investment Partners XI, L.P. and John Curtius shall be deemed to be Affiliates for the purposes of this Agreement. 

  
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 1.2 The term “Common Stock” shall mean shares of the Company’s common
stock, par value $0.001 per share. 
 1.3 The term “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended, and the rules and regulations promulgated thereunder. 
 1.4 The term “Form
S-3” means such form under the Securities Act as in effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC which permits inclusion or incorporation
of substantial information by reference to other documents filed by the Company with the SEC. 
 1.5 The term “GAAP” shall
mean United States generally accepted accounting principles. 
 1.6 The term “Holder” shall mean any Person owning or having
the right to acquire Registrable Securities or any assignee thereof in accordance with Section 2.12 hereof. 
 1.7
The Term “Immediate Family Member” shall mean a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, of a person referred to herein. 
 1.8 The term
“Initial Closing” shall have the meaning attributed to such term in the Purchase Agreement. 
 1.9 The term
“Initiating Holders” means, collectively, any Holders who properly initiate a registration request under this Agreement. 

1.10 The term “IPO” means the Company’s first underwritten public offering of its Common Stock under the Securities Act.

 1.11 The term “Key Employee” means Noah Glass, Matthew Tucker, Peter Benevides, Andrew Murray, Martin Hahnfeld, David
Olander, Scott Lamb, Nithya Das and any executive-level employee (including division director and Vice President level positions) as well as any employee who either alone or in concert with others develops, invents, programs or designs any Company
Intellectual Property (as defined in Section 2.8 of the Purchase Agreement). 
 1.12 The term “Major
Investor” means, at any time (i) any Investor (other than a Staley Investor) that, together with such Investor’s Affiliates, holds at such time at least 50,000 shares of Registrable Securities (appropriately adjusted for any stock
split, dividend, combination or other recapitalization effected after the date hereof) and (ii) any Staley Investor that at such time holds a number of shares of Registrable Securities equal to or more than 10% of the Registrable Securities
(appropriately adjusted for any stock split, dividend, combination or other recapitalization effected after the date hereof) held by such Staley Investor immediately after the Initial Closing under the Purchase Agreement. 

  
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 1.13 The term “New Securities” shall mean equity securities of the Company,
whether now authorized or not, or rights, options, or warrants to purchase said equity securities, or securities of any type whatsoever that are, or may become, convertible into or exchangeable into or exercisable for said equity securities. 

1.14 The term “Preferred Stock” shall mean, as applicable, shares of the Company’s Series A Preferred Stock, Series A-1 Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and/or Series E Preferred Stock. 

1.15 The term “register,” “registered,” and “registration” refer to a registration effected
by preparing and filing a registration statement or similar document in compliance with the Securities Act, and the declaration or ordering of effectiveness of such registration statement or document. 

1.16 The term “Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of the Preferred
Stock, including Preferred Stock issuable or issued upon exercise of warrants for any Preferred Stock, (ii) any Common Stock issued or issuable upon conversion of any capital stock of the Company acquired by the Investors (or any direct or
indirect assignee thereof in accordance with Section 2.12 hereof) after the date hereof, and (iii) the shares of Common Stock held by the Key Holders set forth on Schedule B attached hereto; provided,
however, that such shares of Common Stock shall not be deemed Registrable Securities and the aforementioned individuals shall not be deemed Holders for the purposes of initiating a request for registration under
Section 2.1(a) or for purposes of Sections 2.11, 2.13, 3.1, 3.2, 4.1 and 6.7, and (iv) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any
warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of the shares referenced in clause (i), (ii), or (iii) above, excluding in all cases, however, any
Registrable Securities sold by a person in a transaction in which his rights under Section 2 hereof are not assigned or any shares for which registration rights have terminated pursuant to
Section 2.15 of this Agreement. 
 1.17 The term “Registrable Securities then outstanding” means
the number of shares determined by adding the number of shares of Common Stock outstanding which are, and the number of shares of Common Stock issuable (directly or indirectly) pursuant to then exercisable or convertible securities which are,
Registrable Securities. 
 1.18 The term “Restated Certificate” means the Company’s Amended and Restated Certificate of
Incorporation filed with the Secretary of State of the State of Delaware on or about the date hereof, as may be amended from time to time. 

1.19 The term “SEC” means the Securities and Exchange Commission. 

1.20 The term “SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act. 

1.21 The term “SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act. 

  
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 1.22 The term “Securities Act” means the Securities Act of 1933, as
amended, and the rules and regulations promulgated thereunder. 
 1.23 The term “Series A Preferred Stock” means shares of
the Company’s Series A Preferred Stock, par value $0.001 per share. 
 1.24 The term “Series
A-1 Preferred Stock” means shares of the Company’s Series A-1 Preferred Stock, par value $0.001 per share. 

1.25 The term “Series B Preferred Stock” means shares of the Company’s Series B Preferred Stock, par value $0.001 per
share. 
 1.26 The term “Series C Preferred Stock” means shares of the Company’s Series C Preferred Stock, par value
$0.001 per share. 
 1.27 The term “Series D Preferred Stock” means shares of the Company’s Series D Preferred Stock,
par value $0.001 per share. 
 1.28 The term “Series E Preferred Stock” means shares of the Company’s Series E
Preferred Stock, par value $0.001 per share. 
 1.29 The term “Staley Investor” means at any time any of Staley Capital Fund
I, LP, Staley Capital Olo Fund LLC or any other Investor that is at such time an Affiliate of or managed by Staley Capital Management LLC (“Staley”). 

1.30 The term “Violation” means losses, claims, damages, or liabilities (joint or several) to which a party hereto may become
subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or
violations: (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto,
(ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by any other party hereto, of the
Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law. 

1.31 The term “Wellington Investor” shall mean Wellington Hadley Harbor Aggregator III, L.P., or permitted transferees of
Registrable Securities held by the Wellington Investor, that are advisory or subadvisory clients of Wellington Management Company LLP. 

  
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 2. Registration Rights. The Company covenants and agrees as follows: 

2.1 Request for Registration. 

(a) If the Company shall receive at any time after the earlier of (i) 4 years after the date of this Agreement or (ii) 180 days after the
effective date of the first registration statement for a public offering of securities of the Company (other than a registration statement relating either to the sale of securities to employees of the Company pursuant to a stock option, stock
purchase or similar plan or a SEC Rule 145 transaction), a written request from the Holders of at least 50% of the Registrable Securities then outstanding that the Company file a registration statement under the Securities Act covering the
registration of the Registrable Securities then outstanding, then the Company shall: 
 (i) within ten (10) days of the receipt
thereof, give written notice of such request to all Holders; 
 (ii) as soon as practicable, and in any event within 60 days of the receipt
of such request, file a registration statement under the Securities Act covering all Registrable Securities which the Holders request to be registered, subject to the limitations of subsection 2.1(b), within twenty (20) days of the
mailing of such notice by the Company in accordance with Section 6.5; and 
 (iii) use its best efforts to cause
such registration statement to be declared effective by the SEC as soon as practicable but in no event later than 90 days after such request. 

(b) If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall
so advise the Company as a part of their request made pursuant to subsection 2.1(a) and the Company shall include such information in the written notice referred to in subsection 2.1(a). The underwriter will be selected by the Company
and shall be reasonably acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s
participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with
the Company as provided in subsection 2.3(e)) enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting. Notwithstanding any other provision of this
Section 2.1, if the underwriter advises the Initiating Holders in writing that marketing factors require a limitation of the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of
Registrable Securities which would otherwise be underwritten pursuant hereto, and the number of shares of Registrable Securities that may be included in the underwriting shall be allocated among all Holders of Registrable Securities, including the
Initiating Holders, in proportion (as nearly as practicable) to the number of Registrable Securities of the Company owned by each Holder; provided, however, that the number of shares of Registrable Securities held by the Holders to be
included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may
round the number of shares allocated to any Holder to the nearest 100 shares. 
 (c) The Company shall not be obligated to effect, or to
take any action to effect, any registration 

  
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 (i) pursuant to this Section 2.1: 

(1) In any particular jurisdiction in which the Company would be required to execute a general consent to service of process in effecting such
registration, unless the Company is already subject to service in such jurisdiction and except as may be required under the Securities Act; 

(2) After the Company has effected two registrations pursuant to this Section 2.1 and such registrations have been
declared or ordered effective; 
 (3) If the Initiating Holders propose to dispose of shares of Registrable Securities that may be
immediately registered on Form S-3 pursuant to a request made pursuant to Section 2.11 below; or 

(4) If the Registrable Securities to be included in the registration statement could be sold without restriction under SEC Rule 144 within a
ninety (90) day period and the Company is currently subject to the periodic reporting requirements of Sections 12(g) or 15(d) of the Exchange Act, or 

(ii) pursuant to any other provision of this Agreement: 

(1) In any particular jurisdiction in which the Company would be required to execute a general consent to service of process in effecting such
registration, unless the Company is already subject to service in such jurisdiction and except as may be required under the Securities Act; or 

(2) If the Registrable Securities to be included in the registration statement could be sold without restriction under SEC Rule 144 within a
ninety (90) day period and the Company is currently subject to the periodic reporting requirements of Sections 12(g) or 15(d) of the Exchange Act. 

(d) Notwithstanding the foregoing, if the Company shall furnish to Holders requesting a registration statement pursuant to this
Section 2.1 a certificate signed by the Chief Executive Officer of the Company stating that in the good faith judgment of the Board of Directors of the Company it would be materially detrimental to the Company and its
stockholders for such registration statement to become effective or to remain effective as long as such registration statement would otherwise be required to remain effective because such action (x) would materially interfere with a significant
acquisition, corporate reorganization or other similar transaction involving the Company, (y) would require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential or (z)
would render the Company unable to comply with requirements under the Securities Act or Exchange Act, the Company shall have the right to defer taking action with respect to such filing for a period of not more than ninety (90) days after
receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this right more than once in any twelve-month period and provided further that the Company shall not register any securities for the
account of itself or any other person during such ninety (90) day period other than a registration statement relating either to the sale of securities to employees of the Company pursuant to a stock option, stock purchase or similar plan or an
SEC Rule 145 transaction, a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities, or a registration in which
the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered). 

  
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 A registration statement shall not be counted until such time as such registration statement
has been declared effective by the SEC (unless the Initiating Holders withdraw their request for such registration (other than as a result of information concerning the business or financial condition of the Company which is made known to the
Investors after the date on which such registration was requested) and elect not to pay the registration expenses therefor pursuant to Section 2.5). A registration statement shall not be counted if, as a result of an
exercise of the underwriter’s cut-back provisions, fewer than 50% of the total number of Registrable Securities that Holders have requested to be included in such registration statement are actually
included. 
 2.2 Company Registration. If the Company proposes to register (including for this purpose a registration effected by the
Company for stockholders other than the Holders but excluding a registration pursuant to Section 2.1) any of its stock or other securities under the Securities Act in connection with the public offering of such securities
solely for cash (other than a registration statement relating either to the sale of securities to employees of the Company pursuant to a stock option, stock purchase or similar plan or an SEC Rule 145 transaction, a registration on any form which
does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities or a registration in which the only Common Stock being registered is Common Stock
issuable upon conversion of debt securities which are also being registered), the Company shall, at such time, promptly give each Holder written notice of such registration. Upon the written request of each Holder given within twenty (20) days
after mailing of such notice by the Company in accordance with Section 6.5, the Company shall, subject to the provisions of Section 2.7, cause to be registered under the Securities Act all of the
Registrable Securities that each such Holder has requested to be registered. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.2 prior to the effectiveness of
such registration whether or not any Holder has elected to include securities in such registration. The expenses of such withdrawn registration shall be borne by the Company in accordance with Section 2.6 hereof. 

2.3 Obligations of the Company. Whenever required under this Section 2 to effect the registration of any
Registrable Securities, the Company shall, as expeditiously as reasonably possible, 
 (a) prepare and file with the SEC a registration
statement with respect to such Registrable Securities and use its reasonable best efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered
thereunder, keep such registration statement effective for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the Registration Statement has been completed; provided, however, that
(i) such 120-day period shall be extended for a period of time equal to the period the Holder refrains from selling any securities included in such registration at the request of an underwriter of Common
Stock (or other securities) of the Company; and (ii) in the case of any registration of Registrable Securities on Form S-3 which are intended to be offered on a continuous or delayed basis, subject to
compliance with applicable SEC rules, such 120-day period shall be extended for up to 60 days, if necessary, to keep the registration statement effective until all such Registrable Securities are sold; 

  
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 (b) prepare and file with the SEC such amendments and supplements to such registration
statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement; 

(c) furnish to the Holders such numbers of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of
the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them; 

(d) use its reasonable best efforts to register and qualify the securities covered by such registration statement under such other securities
or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders; provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to
service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; 

(e) in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and
customary form, with the managing underwriter of such offering. Each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement; 

(f) cause all such Registrable Securities to be listed on a national securities exchange or trading system and each securities exchange and
trading system on which similar securities issued by the Company are then listed; 
 (g) provide a transfer agent and registrar for all such
Registrable Securities and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; and 

(h) use its reasonable best efforts to furnish, at the request of any Holder requesting registration of Registrable Securities pursuant to
this Section 2, on the date on which such Registrable Securities are sold to the underwriter, (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and
substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and (ii) a “comfort” letter dated such date, from the independent certified public accountants of the
Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any. 

2.4 Furnish Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this
Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of
disposition of such securities as shall be reasonably required to effect the registration of such Holder’s Registrable Securities. 

  
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 2.5 Expenses of Demand Registration. All expenses other than underwriting discounts
and commissions incurred in connection with registrations, filings or qualifications pursuant to Section 2.1, including (without limitation) all registration, filing and qualification fees, printers’ and accounting
fees, fees and disbursements of counsel for the Company and the reasonable fees and disbursements, not to exceed $75,000, of one counsel for the selling Holders shall be borne by the Company; provided, however, that the Company shall not be
required to pay for any expenses of any registration proceeding begun pursuant to Section 2.1 if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities
to be registered (in which case all participating Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration), unless the Holders of a majority of the Registrable
Securities agree to forfeit their right to one demand registration pursuant to Section 2.1; provided further, however, that if at the time of such withdrawal, the Holders have learned of a material adverse change in the
condition, business, or prospects of the Company from that known to the Holders at the time of their request and have withdrawn the request with reasonable promptness after learning of such information, then the Holders shall not be required to pay
any of such expenses and shall retain their rights pursuant to Section 2.1. 
 2.6 Expenses of Company
Registration. The Company shall bear and pay all expenses incurred in connection with any registration, filing or qualification of Registrable Securities with respect to the registrations pursuant to Section 2.2 hereof
for each Holder (which right may be assigned as provided in Section 2.12 hereof), including (without limitation) all registration, filing, and qualification fees, printers and accounting fees relating or apportionable
thereto and the fees and disbursements, not to exceed $20,000, of one counsel for the selling Holders selected by them, but excluding underwriting discounts and commissions relating to Registrable Securities. 

2.7 Underwriting Requirements. In connection with any offering involving an underwriting of shares of the Company’s capital stock
pursuant to Section 2.2, the Company shall not be required to include any of the Holders’ securities in such underwriting unless they accept the terms of the underwriting as agreed upon between the Company and its
underwriters, and then only in such quantity as the underwriters determine in their sole discretion will not jeopardize the success of the offering by the Company. If the total number of securities, including Registrable Securities, requested by
stockholders to be included in such offering exceeds the amount of securities to be sold other than by the Company that the underwriters determine in their reasonable discretion is compatible with the success of the offering, then the Company shall
be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company determine in their sole discretion will not jeopardize the success of the offering. In no event
shall any Registrable Securities be excluded from such offering unless all other persons’ securities (other than those securities proposed to be issued and sold for the account of the Company) have been first excluded. In the event that the
underwriters determine that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be apportioned pro rata among the selling
Holders based on the number of Registrable Securities held by all selling 

  
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Holders or in such other proportions as shall mutually be agreed to by all such selling Holders. Notwithstanding the foregoing, in no event shall (i) the amount of securities of the selling
Holders included in the offering be reduced below thirty percent (30%) of the total amount of securities included in such offering (provided that Major Investor’s shares will be reduced only after all other stockholders’ shares are
reduced), unless such offering is the Company’s IPO in which case the selling Holders may be excluded beyond this amount if the underwriters make the determination described above and no other person’s securities (other than those
securities proposed to be issued and sold for the account of the Company) are included in such offering or (ii) notwithstanding (i) above, any Registrable Securities described in Section 1.16(i) be excluded from such
underwriting unless all Registrable Securities described in Section 1.16(iii) are first excluded from such offering. For purposes of the preceding parenthetical concerning apportionment, for any selling stockholder which is
a Holder of Registrable Securities and which is an investment fund, partnership, limited liability company or corporation, the partners, members, retired partners, retired members, stockholders and Affiliates of such Holder, or the estates and
family members of any such partners, retired partners, members and retired members and any trusts for the benefit of any of the foregoing persons shall be deemed to be a single “selling Holder”, and any
pro-rata reduction with respect to such “selling Holder” shall be based upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in such
“selling Holder,” as defined in this sentence. 
 2.8 Delay of Registration. No Holder shall have any right to obtain or
seek an injunction restraining or otherwise delaying any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

2.9 Indemnification. In the event any Registrable Securities are included in a registration statement under this
Section 2: 
 (a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, the
partners, members, managers, officers, directors and stockholders of each Holder, legal counsel and accountants for each Holder, any underwriter (as defined in the Securities Act) for such Holder and each person, if any, who controls such Holder or
underwriter within the meaning of the Securities Act or the Exchange Act, against any Violation and the Company will pay to each such Holder, underwriter, controlling person or other aforementioned person, any legal or other expenses reasonably
incurred by them in connection with investigating or defending any such loss, claim, damage, liability, or action as such expenses are incurred; provided, however, that the indemnity agreement contained in this subsection 2.9(a) shall
not apply to amounts paid in settlement of any such loss, claim, damage, liability, or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in
any such case for any such loss, claim, damage, liability, or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection
with such registration by any such Holder, underwriter, controlling person or other aforementioned person. 

  
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 (b) To the extent permitted by law, each selling Holder will severally and not jointly
indemnify and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Securities Act, legal counsel and accountants for
the Company, any underwriter, any other Holder selling securities in such registration statement and any controlling person of any such underwriter or other Holder, against any losses, claims, damages, or liabilities (joint or several) to which any
of the foregoing persons may become subject, under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereto) arise out of or are based upon any
Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such
Holder will pay, any legal or other expenses reasonably incurred by any person intended to be indemnified pursuant to this subsection 2.9(b), in connection with investigating or defending any such loss, claim, damage, liability, or action;
provided, however, that the indemnity agreement contained in this subsection 2.9(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent
of the Holder, which consent shall not be unreasonably withheld; provided, further, that, in no event shall any indemnity under this subsection 2.9(b) exceed the net proceeds from the offering received by such Holder. 

(c) Promptly after receipt by an indemnified party under this Section 2.9 of notice of the commencement of any
action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.9, deliver to the indemnifying party a written notice
of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with
counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties which may be represented without conflict by one counsel) shall have the right to retain one separate
counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between
such indemnified party and any other party represented by such counsel in such proceeding. 
 (d) In order to provide for just and equitable
contribution to joint liability under the Securities Act in any case in which either (i) any Holder exercising rights under this Agreement, or any controlling person of any such Holder, makes a claim for indemnification pursuant to this
Section 2.9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such
indemnification may not be enforced in such case notwithstanding the fact that this Section 2.9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of
any such selling Holder or any such controlling person in circumstances for which indemnification is provided under this Section 2.9, then, and in each such case, the Company and such Holder will contribute to the aggregate
losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the
other in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party
shall be 

  
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determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to
information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided however,
that, in any such case, (I) no such Holder will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement, and
(II) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation;
provided further, that in no event shall a Holder’s liability pursuant to this Section 2.9(d), when combined with the amounts paid or payable by such holder pursuant to Section 2.9(b), exceed
the proceeds from the offering (net of any underwriting discounts or commissions) received by such Holder. 
 (e) Notwithstanding the
foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions
in the underwriting agreement shall control. 
 (f) Unless otherwise superseded by an underwriting agreement entered into in connection with
the underwritten public offering, the obligations of the Company and Holders under this Section 2.9 shall survive the completion of any offering of Registrable Securities in a registration statement under this
Section 2, and otherwise and shall survive the termination of this Agreement. 
 2.10 Reports Under Exchange
Act. With a view to making available to the Holders the benefits of SEC Rule 144 promulgated under the Securities Act and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the
public without registration or pursuant to a registration on Form S-3, the Company agrees to: 
 (a)
make and keep public information available, as those terms are understood and defined in SEC Rule 144, at all times after the effective date of the first registration statement filed by the Company for the offering of its securities to the general
public so long as the Company is subject to the periodic reporting requirements under Sections 13 or 15(d) of the Exchange Act; 
 (b) file
with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act; and 

(c) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) a written statement by the
Company that it has complied with the reporting requirements of SEC Rule 144, the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may
be resold pursuant to Form S-3 (at any time after it so qualifies), (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and
(iii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC which permits the selling of any such securities without registration or pursuant to such form. 

  
 12 

 2.11 Form S-3 Registration. In case the
Company shall receive from Holders of at least 30% of all Registrable Securities then outstanding a written request or requests that the Company effect a registration on Form S-3 and any related qualification
or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company will: 
 (a) promptly
give written notice of the proposed registration, and any related qualification or compliance, to all other Holders; and 
 (b) as soon as
practicable, effect such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable Securities
as are specified in such request, together with all or such portion of the Registrable Securities of any other Holder or Holders joining in such request as are specified in a written request given within 15 days after receipt of such written notice
from the Company; provided, however, that the Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to this Section 2.11: (1) if Form
S-3 is not then available for such offering by the Holders; (2) if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell
Registrable Securities and such other securities (if any) at an aggregate price to the public (net of any underwriters’ discounts or commissions) of less than $1 million; (3) if the Company shall furnish to the Holders a certificate
signed by the President of the Company stating that in the good faith judgment of the Board of Directors of the Company, it would be materially detrimental to the Company and its stockholders for such Form S-3
Registration to be effected at such time, in which event the Company shall have the right to defer the filing of the Form S-3 registration statement for a period of not more than 90 days after receipt of the
request of the Holder or Holders under this Section 2.11; provided, however, that the Company shall not utilize this right more than once in any twelve month period and provided further that the Company shall not
register any securities for the account of itself or any other person during such ninety-day period (other than a registration relating solely to the sale of securities of participants in a Company stock plan,
a registration relating to a corporate reorganization or transaction under Rule 145 of the Securities Act, a registration on any form that does not include substantially the same information as would be required to be included in a registration
statement covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered); (4) if the Company has, within
the twelve (12) month period preceding the date of such request, already effected two registrations on Form S-3 for the Holders pursuant to this Section 2.11; or (5) in any
particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance; or (6) during the period ending one
hundred eighty (180) days after the effective date of a registration statement subject to Section 2.2 hereof. 

  
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 (c) Subject to the foregoing, the Company shall file a registration statement covering the
Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the request or requests of the Holders. All expenses incurred in connection with a registration requested pursuant to this
Section 2.11, including (without limitation) all registration, filing, qualification, printer’s and accounting fees and the reasonable fees and disbursements of counsel for the selling Holder or Holders, not to exceed
$20,000, and counsel for the Company, but excluding any underwriters’ discounts or commissions associated with Registrable Securities, shall be borne by the Company. Registrations effected pursuant to this Section 2.11
shall not be counted as demands for registration or registrations effected pursuant to Sections 2.1. 
 (d) If the Initiating Holders
intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as part of their request made pursuant to this Section 2.11 and the Company shall
include such information in the written notice referred to in Section 2.11(a). The provisions of Section 2.1(b) shall be applicable to such request (with the substitution of
Section 2.11 for references to Section 2.1). 
 2.12 Assignment of Registration
Rights. The rights to cause the Company to register Registrable Securities pursuant to this Section 2 may be assigned (but only with all related obligations) by a Holder to a transferee or assignee of such securities
that (i) is a subsidiary, Affiliate, parent, partner, member, limited partner, retired partner, retired member or stockholder of a Holder, (ii) is a Holder’s family member or trust for the benefit of an individual Holder, or (iii),
after such assignment or transfer, holds at least 100,000 shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations and other recapitalizations), provided: (a) the Company is, within a
reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned; and (b) such transferee or assignee
agrees in writing to be bound by and subject to the terms and conditions of this Agreement, including without limitation the provisions of Section 2.14 below. For the purposes of determining the number of shares of
Registrable Securities held by a transferee or assignee, the holdings of transferee or assignee that is an Affiliate of the assigning Holder shall be aggregated and together with those of the assigning Holder; provided that all assignees and
transferees who would not qualify individually for assignment of registration rights shall have a single attorney-in-fact for the purpose of exercising any rights,
receiving notices or taking any action under this Section 2. 
 2.13 Limitations on Subsequent Registration
Rights. From and after the date of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective
holder of any securities of the Company which would allow such holder or prospective holder (i) to include such securities in any registration unless under the terms of such agreement, such holder or prospective holder may include such
securities in any such registration only to the extent that the inclusion of such securities will not reduce the amount of the Registrable Securities of the Holders that are included or (ii) to demand registration of any securities held by such
holder or prospective holder. 

  
 14 

 2.14 “Market Stand-Off” Agreement.
Each Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the Company’s IPO and ending on the date specified by the
Company and the managing underwriter (such period not to exceed one hundred eighty (l80) days) (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase, or otherwise transfer or dispose of any shares of Common Stock, or any securities convertible into or exercisable or exchangeable for Common Stock, held immediately before the effective date of the registration
statement for such offering, or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause
(i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash or otherwise. The foregoing provisions of this Section 2.14 shall apply only to the Company’s IPO, shall not apply to the
sale of any shares to an underwriter pursuant to an underwriting agreement, and shall only be applicable to the Holders if all officers, directors and greater than one percent (1%) stockholders of the Company enter into similar agreements. The
underwriters in connection with the Company’s IPO are intended third-party beneficiaries of this Section 2.14 and shall have the right, power and authority to enforce the provisions hereof as though they were a party
hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in the Company’s IPO that are consistent with this Section 2.14 or that are necessary to give further
effect thereto. The Company hereby agrees to ensure that any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply to all Holders and other persons subject to such
agreements pro rata based on the number of shares held by such persons and Holders. 
 In order to enforce the foregoing covenant, the
Company may impose stop-transfer instructions with respect to the Registrable Securities of each Holder (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 

2.15 Termination of Registration Rights. The rights of any Holder set forth in this Section 2 (other than
Section 2.9 which shall survive any such termination) shall terminate upon the earliest to occur of: 
 (a) the
closing of a Deemed Liquidation Event, as such term is defined in the Company’s Restated Certificate; 
 (b) in the case of the
registration rights set forth in Section 2.1 or 2.3 only (but not those set forth in Section 2.2), as to any Holder, when the Registrable Securities held by such Holder (together with any
Affiliate of such Holder with whom such Holder must aggregate its sales under SEC Rule 144) could be sold without restriction under SEC Rule 144 within a ninety (90) day period; and 

(c) the fifth (5th) anniversary of the IPO. 

3. Information Rights. 

3.1 Delivery of Financial Statements. The Company shall deliver to each Major Investor; provided, that the Board of Directors has not
reasonably determined that such Major Investor is a competitor of the Company: 

  
 15 

 (a) as soon as practicable, but in any event within one hundred eighty (180) days after the
end of each fiscal year of the Company, a balance sheet and income statement and a statement of stockholder’s equity as of the last day of such year; a statement of cash flows for such year and a comparison between the actual figures for such
year, the comparable figures for the prior year and the comparable figures included in the Budget (as defined below) for such year, with an explanation of any material differences between them and a schedule as to the sources and applications of
funds for such year, such year-end financial reports to be in reasonable detail, prepared in accordance with GAAP, and audited and certified by independent public accountants of nationally recognized standing
selected by the Company; 
 (b) as soon as practicable, but in any event within forty five (45) days after the end of each of the first
three (3) quarters of each fiscal year of the Company, an unaudited income statement, schedule as to the sources and application of funds for such fiscal quarter, an unaudited balance sheet and a statement of stockholder’s equity as of the
end of such fiscal quarter; 
 (c) as soon as practicable, but in any event with forty-five (45) days after the end of each fiscal year
of the Company, (i) a detailed capitalization table and (ii) a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for shares of capital stock outstanding at the
end of the period, the number of common shares issuable upon conversion or exercise of any outstanding securities convertible or exercisable for common shares and the exchange ratio or exercise price applicable thereto and number of shares of issued
stock options and stock options not yet issued but reserved for issuance, if any, all in sufficient detail as to permit each Major Investor to calculate its percentage equity ownership in the Company and certified by the Chief Financial Officer or
Chief Executive Officer of the Company as being true, complete and correct; 
 (d) as soon as practicable, but in any event within thirty
(30) days of the end of each month, an unaudited income statement, an unaudited profit or loss statement and an unaudited balance sheet as of the end of such month; 

(e) as soon as practicable, but in any event thirty (30) days prior to the end of each fiscal year, a budget and business plan for the
next fiscal year (collectively, the “Budget”), prepared on a monthly basis, including balance sheets and sources and applications of funds statements for such months and, as soon as prepared, any other budgets or revised budgets
prepared by the Company; 
 (f) with respect to the financial statements called for in subsections (a), (b) and (d) of this
Section 3.1, an instrument executed by the Chief Financial Officer and President or Chief Executive Officer of the Company and certifying that such financials were prepared in accordance with GAAP consistently applied with
prior practice for earlier periods (with the exception for unaudited statements of footnotes that may be required by GAAP) and fairly present the financial condition of the Company and its results of operation for the periods specified therein,
subject for unaudited statements to year-end audit adjustment; 

  
 16 

 (g) such other information relating to the financial condition, business, prospects or
corporate affairs of the Company or any of its subsidiaries as the Major Investor or any assignee of the Major Investor may from time to time reasonably request, provided, however, that the Company shall not be obligated under this
subsection (g) or any other subsection of Section 3.1 to (i) provide information which the Company reasonably deems in good faith to be a trade secret or similar confidential information (unless in the case
of an assignee of a Major Investor covered by an enforceable confidentiality agreement, in form acceptable to the Company) or (ii) would adversely affect the attorney-client privilege between the Company and its counsel; and 

(h) if for any period the Company shall have any subsidiary whose accounts are consolidated with those of the Company, then in respect of such
period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial statements of the Company and all such consolidated subsidiaries. 

(i) Notwithstanding anything else in this Section 3.1 to the contrary, (A) the Company may cease providing the
information set forth in this Section 3.1 during the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date of filing of, and ending on a date one hundred eighty
(180) days after the effective date of the registration effecting the IPO; provided that the Company is actively employing its reasonable best efforts to cause such registration statement to become effective and (B) the deadline for
delivery of audited and certified financial statements as set forth in Section 3.1 above may be extended by the Board of Directors, including the approval of a majority of the Preferred Directors. 

3.2 Inspection. The Company shall permit (provided that the Board of Directors has not reasonably determined that such Major
Investor is a competitor of the Company), and shall cause each of its subsidiaries to permit, each Major Investor, at such Major Investor’s expense, to visit and inspect the Company’s or such subsidiary’s properties, to examine its
books of account and records and to discuss the Company’s or such subsidiary’s affairs, finances and accounts with its officers, employees and accountants, all at such reasonable times as may be reasonably requested by the Major Investor;
provided, however, that the Company shall not be obligated pursuant to this Section 3.2 to provide access to any information which it reasonably considers to be a trade secret or similar confidential information or
would adversely affect the attorney-client privilege between the Company and its counsel. 
 3.3 Termination of Information and Inspection
Covenants. The covenants set forth in Section 3.1 and Section 3.2 shall terminate as to Investors and be of no further force or effect (i) immediately before the consummation of the IPO or
(ii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Restated Certificate, whichever event occurs first. 

3.4 Confidentiality. Each Investor agrees that such Investor will keep confidential and will not disclose, divulge or use for any
purpose, other than to monitor its investment in the Company, any confidential information obtained from the Company pursuant to the terms of Sections 3.1 and 3.2 of this Agreement, unless such confidential information (i) is
known or becomes known to the public in general (other than as a result of a breach of this Section 
 3.4 by such Investor),
(ii) is or has been independently developed or conceived by the Investor or its agents without use of the Company’s confidential information or (iii) is or has been made known or disclosed to the Investor by a third party without a breach
of any obligation of confidentiality such third party may have to the Company; provided, however, that an Investor may disclose confidential information (a) to its attorneys, accountants, consultants, and other professionals to 

  
 17 

 
the extent necessary to obtain their services in connection with monitoring its investment in the Company, (b) to any prospective investor of any Registrable Securities or other securities
of the Company from such Investor as long as such prospective investor agrees to be bound by confidentiality obligations with Investor that binds such prospective investor to confidentiality and non-use
obligations with respect to confidential information of the Company that are at least as restrictive as those contained in this Section 3.4 (and Investor will be responsible for any breach of this
Section 3.4 by any such prospective investor), (c) to any existing or prospective Affiliate, partner (or partner of a partner), member, stockholder or wholly owned subsidiary of such Investor in the ordinary course of
business, or (d) as may otherwise be required by law, regulation, rule, court order or subpoena, provided that the Investor takes reasonable steps to minimize the extent of any such required disclosure. The Company acknowledges that at least
some of the Investors are in the business of venture capital investing and therefore review the business plans and related proprietary information of many enterprises, including enterprises which may have products or services which compete directly
or indirectly with those of the Company. The Company hereby agrees that, to the extent permitted under applicable law, each Major Investor (and its Affiliates) shall not be liable to the Company for any claim arising out of, or based upon,
(a) the investment by such Major Investor (or its Affiliates) in any entity competitive with the Company, or (b) actions taken by any partner, officer, employee or other representative of such Major Investor (or its Affiliates) to assist
any such competitive company, whether or not such action was taken as a member of the board of directors of such competitive company or otherwise, and whether or not such action has a detrimental effect on the Company; provided,
however, that the foregoing shall not relieve (i) any of the Investors from liability associated with the unauthorized disclosure of the Company’s confidential information obtained pursuant to this Agreement, or (ii) any
director or officer of the Company from any liability associated with his or her fiduciary duties to the Company. 
 4. Right of First
Offer. 
 4.1 Right of First Offer. Subject to the terms and conditions specified in this Section 4.1,
and applicable securities laws, in the event the Company proposes to offer or sell any New Securities, the Company shall first make an offering of such New Securities to each Major Investor in accordance with the following provisions of this
Section 4.1. 
 (a) A Major Investor shall be entitled to apportion the right of first offer hereby granted it
among itself and its partners, members and Affiliates in such proportions as it deems appropriate. The Company shall deliver a notice, in accordance with the provisions of Section 6.5 hereof (the “Offer
Notice”), to each of the Major Investors stating (i) its bona fide intention to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to
offer such New Securities. 
 (b) By written notification received by the Company, within twenty (20) calendar days after mailing of
the Offer Notice, each of the Major Investors may elect to purchase or obtain, at the price and on the terms specified in the Offer Notice, up to that portion of such New Securities which equals the proportion that the number of shares of Common
Stock issued and held, or issuable upon conversion of the Preferred Stock (and any other securities convertible into, or otherwise exercisable or exchangeable for, shares of Common Stock) then held, by such Major Investor bears to the total number
of shares of Common Stock of the Company then 

  
 18 

 
outstanding (assuming full conversion and exercise of all outstanding convertible or exercisable securities). The Company shall promptly, in writing, inform each Major Investor that elects to
purchase all the shares available to it (each, a “Fully-Exercising Investor”) of any other Major Investor’s failure to do likewise. During the ten (10) day period commencing after receipt of such information, each
Fully-Exercising Investor shall be entitled to obtain up to that portion of the New Securities for which Major Investors were entitled to subscribe but which were not subscribed for by the Major Investors which is equal to the proportion that the
number of shares of Common Stock issued and held, or issuable upon conversion of Preferred Stock then held or Preferred Stock that is issuable upon exercise of warrants then held, by such Fully-Exercising Investor bears to the total number of shares
of Common Stock issued and held, or issuable upon conversion of the Preferred Stock then held or Preferred Stock that is issuable upon exercise of warrants then held, by all Fully-Exercising Investors who wish to purchase such unsubscribed shares.

 (c) If all New Securities referred to in the Offer Notice are not elected to be purchased or obtained as provided in
Section 4.1(b) hereof, the Company may, during the ninety (90) day period following the expiration of the period provided in Section 4.1(b) hereof, offer the remaining unsubscribed portion of
such New Securities (collectively, the “Refused Securities”) to any person or persons at a price not less than, and upon terms no more favorable to the offeree than, those specified in the Offer Notice. If the Company does not enter
into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New
Securities shall not be offered unless first reoffered to the Major Investors in accordance with this Section 4.1. 

(d) The right of first offer in this Subsection 4.1 shall not be applicable to (i) Exempted Securities (as defined in the
Company’s Restated Certificate), (ii) shares of Common Stock issued in the IPO and (iii) shares of Series E Preferred Stock issued pursuant to the Purchase Agreement. 

4.2 Termination. The covenants set forth in Subsection 4.1 shall terminate and be of no further force or effect
(i) immediately before the consummation of the IPO or (ii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Restated Certificate, whichever event occurs first. 

5. Additional Covenants. 

5.1 Insurance. Unless in existence on the date hereof, the Company shall obtain from financially sound and reputable insurers
(i) Directors and Officers Errors and Omissions insurance in the amount of $5 million, within 20 days after the date hereof and (ii) term “key-person” insurance on Noah Glass in the
amount of $5 million, as soon as practicable after the date hereof, and will cause such insurance policies to be maintained until such time as the Board of Directors (including the majority of the Preferred Directors) determines that such
insurance should be discontinued. The “key person” policy shall name the Company as loss payee and neither policy shall be cancelable by the Company without prior approval of the Board of Directors (including the majority of the Preferred
Directors). For purposes of this Agreement, the “Preferred Directors” shall mean, to the extent such seats are not vacant (a) the two directors elected by the holders of Series A-1
Preferred Stock, exclusively and as a separate class, pursuant 

  
 19 

 
to the Restated Certificate, (b) the director elected by the holders of Series A Preferred Stock, exclusively and as a separate class, pursuant to the Restated Certificate, (c) the
director elected by the holders of Series C Preferred Stock, exclusively and as a separate class (the “Series C Director”) and (d) the directors elected by the holders of Series D Preferred Stock, exclusively and as a separate
class (the “Series D Directors”). 
 5.2 Employee Agreements. Unless otherwise approved by the Board of Directors
(including the majority of the Preferred Directors) the Company shall require (i) each person now or hereafter employed by it or any subsidiary (or engaged by the Company or any subsidiary as a consultant/independent contractor) with access to
confidential information and/or trade secrets to enter into a non-disclosure and proprietary rights assignment agreement in form and substance reasonably satisfactory to the majority of the Preferred
Directors, and (ii) each Key Employee to enter into a one year non-competition and non-solicitation agreement, each in the form approved by the Board of Directors.
In addition, the Company shall not amend, modify, terminate, waive or otherwise alter, in whole or in part, any of the above-referenced agreements or any restricted stock agreement between the Company and any employee without the consent of the
Board of Directors (including the majority of the Preferred Directors). 
 5.3 Employee Vesting. Unless approved by the Board of
Directors (including the majority of the Preferred Directors), all future employees and consultants of the Company who shall purchase, or receive options to purchase, shares of the Company’s capital stock following the date hereof shall be
required to execute stock purchase or option agreements providing for a 180- day lockup period in connection with the Company’s IPO. The Company shall retain a “right of first refusal” on
employee transfers until the Company’s IPO and the right to repurchase unvested shares at cost. For the avoidance of doubt, all options to purchase shares of the Company’s capital stock that are granted on or following the date hereof
shall have an exercise price at least equal to the fair market value of the underlying stock as determined by the Board on a date no earlier than the date of the corporate action authorizing the grant. 

5.4 Matters Requiring Board of Director Approval. The Company hereby covenants and agrees with each of the Investors that it shall not
(and the Company shall cause each of its subsidiaries to not), without prior Board approval, which approval must include the affirmative vote of the majority of the Preferred Directors: 

(a) make, or permit any subsidiary to make, any loan or advance to, or own any stock or other securities of, any subsidiary or other
corporation, partnership, or other entity unless it is wholly owned by the Company; 
 (b) make, or permit any subsidiary to make, any loan
or advance to any person, including, without limitation, any employee or director of the Company or any subsidiary, except advances and similar expenditures in the ordinary course of business; 

(c) guarantee, directly or indirectly, or permit any subsidiary to guarantee, directly or indirectly, any indebtedness except for trade
accounts of the Company or any subsidiary arising in the ordinary course of business; 
 (d) adopt an investment policy; 

  
 20 

 (e) make any investments inconsistent with the Company’s investment policy; 

(f) make expenditures in excess of $250,000 for any transaction or series of related transactions; 

(g) incur any indebtedness for borrowed money that is not already included in a Board-approved budget and would cause the aggregate
indebtedness of the Company and its subsidiaries for borrowed money to exceed $250,000, other than trade credit incurred in the ordinary course of business; 

(h) otherwise enter into or be a party to any transaction with any director, officer, or Affiliate of the Company or any “associate”
(as defined in Rule 12b-2 promulgated under the Exchange Act) of any such person, except for transactions contemplated by this Agreement and the other Transaction Agreements (as defined in the Purchase
Agreement), or arms-length transactions made in the ordinary course of business and pursuant to reasonable requirements of the Company’s business and upon fair and reasonable terms that are approved by a majority of the Board of Directors
(including the majority of the Preferred Directors); 
 (i) hire, terminate, replace or change the compensation of its executive officers or
other employees at the level of vice president or above; 
 (j) issue any option to purchase Common Stock under the Corporation’s 2005
Equity Incentive Plan or 2015 Equity Incentive Plan (together, the “Stock Plans”), increase the number of shares of Common Stock reserved for issuance under the Corporation’s Stock Plans, amend or modify either of the
Company’s Stock Plans or adopt, amend or modify any other stock incentive, restricted stock, stock repurchase or other equity incentive plan, agreement or arrangement; 

(k) materially change the principal business of the Company, enter new lines of business or exit the current line of business; 

(l) sell, transfer, license, pledge or encumber technology or intellectual property, other than licenses granted in the ordinary course of
business; or 
 (m) enter into any corporate strategic relationship. 

5.5 Meetings of the Board of Directors. Unless otherwise determined by the vote of a majority of the directors then in office, including
the majority of the Preferred Directors, the Board shall meet at least quarterly in accordance with an agreed upon schedule. The Company will reimburse the reasonable, documented costs and expenses incurred by each director and observer in
connection with their attendance at meetings of the Board of Directors (or any committees thereof), as well as in connection with any meeting or other event attended by any director or observer at the Company’s request, unless otherwise agreed
by the Board of Directors, including the majority of the Preferred Directors. The Company shall cause to be established, and will maintain, an audit and compensation committee. The Series C Director and one of the Series D Directors (provided that
such Series D Director is a partner or managing director at Raine Capital LLC or any of its managed funds) shall be entitled in such person’s discretion to be a member of any one or more Board committee. 

  
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 5.6 Successor Indemnification. In the event that the Company or any of its successors
or assigns (i) consolidates with or merges into any other entity and shall not be the continuing or surviving corporation or entity of such consolidation or merger or (ii) transfers or conveys all or substantially all of its properties and
assets to any person or entity, then, and in each such case, to the extent necessary, proper provision shall be made so that the successors and assigns of the Company assume the obligations of the Company with respect to indemnification of members
of the Board of Directors as in effect immediately prior to such transaction, whether in the Company’s Bylaws, Certificate of Incorporation, indemnification agreements between the Company and its directors or former directors or elsewhere, as
the case may be. 
 5.7 Observers at Board Meetings. Each of (i) the Wellington Investor, (ii) RRE Ventures IV, L.P. and
(iii) Staley shall be entitled to designate at any time and from time to time by written notice to the Company an observer who shall be permitted (but not required) to attend and participate in meetings of the Board and any meetings of any
committees thereof and shall be provided all notices, reports and other material sent to the members of the Board (including committee members) at the same time and in the same form as provided to such members; provided, however, that
the Company reserves the right to exclude such observers from access to any material or meeting or portion thereof (a) to the extent that such observer has not entered into a nondisclosure agreement provided by the Company and (b) if,
based on advice of outside counsel, the Company determines that such exclusion is reasonably necessary to preserve the attorney-client privilege. For purposes of clause (a) of the preceding sentence, the parties agree and acknowledge that an
observer designated by the Wellington Investor shall not be obligated to enter into a nondisclosure agreement with the Company so long as the Wellington Investor or Wellington is subject to nondisclosure obligations with the Company that restrict
disclosure by its agents. For purposes of attending any meeting of the Board, neither such observer shall be permitted to vote on any matter nor to participate in any action of the Board. 

5.8 Termination of Covenants. The covenants set forth in this Section 5 (except for
Section 5.6), shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO or (ii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Restated
Certificate, whichever event occurs first. 
 6. Miscellaneous. 

6.1 Transfers, Successors and Assigns. Subject to Section 6.12 below, the terms and conditions of this
Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective
successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

6.2 Governing Law. This Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of
Delaware as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance with the internal laws of the State of New York, without regard to its principles of conflicts of laws. 

  
 22 

 6.3 Counterparts. This Agreement may be executed (including by facsimile
transmission) in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may also be executed and delivered by facsimile signature and in two or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 6.4
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

6.5 Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed
effectively given upon receipt (or refusal of receipt) and shall be: (a) delivered personally; (b) sent by electronic mail (with written confirmation of receipt requested); (c) mailed by registered or certified mail (return receipt
requested); or (d) sent by express overnight courier with proof of delivery from the courier requested. All communications shall be sent to the respective parties at their address as set forth on the signature page or Schedule A or
B as applicable) hereto, or to such email address or address as subsequently modified by written notice given in accordance with this Section 6.5. If notice is given to the Company, it shall be delivered to the
attention of the General Counsel of the Company at nithya.das@olo.com, and a copy shall also be sent to Cooley LLP, 55 Hudson Yards, New York, NY 10001, Attn: Stephane Levy, email: slevy@cooley.com and, if notice is given to the Investors, copies
shall also be given to such counsels set forth next to an Investor’s name on Schedule A hereto. 
 6.6 Costs of
Enforcement. If any Party to this Agreement seeks to enforce its rights under this Agreement by legal proceedings, the non-prevailing Party shall pay all costs and expenses incurred by the prevailing
Party, including, without limitation, all reasonable attorneys’ fees. 
 6.7 Amendments and Waivers. Any term of this Agreement
may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the holders of a majority of the
Registrable Securities then outstanding (which, for purposes hereof, shall only include the Registrable Securities described in (i) of the definition of such term in Section 1 of this Agreement); provided that
the rights of a Staley Investor to be a “Major Investor” described in Section 1.12, the rights in Section 3 of any Major Investor that is a Staley Investor and the rights of Staley in
Section 5.7 may not be amended, and the observance thereof may not be waived (either generally or in a particular instance and either retroactively or prospectively), without the prior written consent of such Staley
Investor or Staley, as the case may be; provided further that clause (i) of the definition of “Major Investor” in Section 1.12 may not be amended, and the observance thereof may not be waived (either
generally or in a particular instance and either retroactively or prospectively), such that Hospitality Investment Partners (or “HIP”) no longer constitutes a “Major Investor” for purposes hereof, without the prior written
consent of HIP; and provided further that, without the prior written consent of the Wellington Investor, (a) clause (i) of the definition of “Major Investor” in Section 1.12 may not be amended, 

  
 23 

 
and the observance thereof may not be waived (either generally or in a particular instance and either retroactively or prospectively), such that the Wellington Investor no longer constitutes a
“Major Investor” hereunder, and (b) the rights of the Wellington Investor in Section 3 and Section 5.7 may not be amended, and the observance thereof may not be waived (either generally or in a
particular instance and either retroactively or prospectively). Any amendment or waiver effected in accordance with this paragraph shall be binding upon each holder of any Registrable Securities then outstanding, each future holder of all such
Registrable Securities, and the Company. Notwithstanding the foregoing, this Agreement may not be amended or terminated and the observance of any term hereunder may not be waived with respect to any Investor without the written consent of such
Investor, unless such amendment, termination or waiver applies to all Investors in the same fashion (it being agreed that a waiver of the provisions of Section 4 with respect to a particular transaction shall be deemed to
apply to all Investors in the same fashion if such waiver does so by its terms, notwithstanding the fact that certain Investors may nonetheless, by agreement with the Company, purchase securities in such transaction); provided,
further, that if any waiving Major Investor and/or its Affiliates purchases New Securities in such transaction, all non-waiving Major Investors shall be presented with the opportunity to purchase up to
the same percentage (not to exceed 100%) of its pro rata share of New Securities issued in such transaction as was purchased by the waiving Major Investor purchasing the largest percentage of its pro rata share of New Securities in such transaction.
The Company shall give prompt written notice of any amendment or termination hereof or waiver hereunder to any party hereto that did not consent in writing to such amendment, termination or waiver. Any amendment, termination or waiver effected in
accordance with this Section 6.7 shall be binding on all parties hereto, even if they do not execute such consent. No waivers of or exceptions to any term, condition or provision of this Agreement, in any one or more
instances, shall be deemed to be, or construed as, a further or continuing waiver of any such term, condition or provision. 
 6.8
Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision. 

6.9 Aggregation of Stock. All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the
purpose of determining the availability of any rights under this Agreement. 
 6.10 Additional Investors. Notwithstanding anything to
the contrary contained herein, if the Company shall issue additional shares of Preferred Stock after the date hereof, any purchaser of such shares of Preferred Stock may become a party to this Agreement by executing and delivering an additional
counterpart signature page to this Agreement and thereafter shall be deemed an “Investor” for all purposes hereunder. 
 6.11
Entire Agreement. This Agreement (including the Exhibits hereto, if any) constitutes the full and entire understanding and agreement between the parties with respect to the subject matter hereof, and any other written or oral agreement
relating to the subject matter hereof existing between the parties are expressly canceled. 

  
 24 

 6.12 Transfers of Rights. Each Investor hereto hereby agrees that it will not,
and may, not assign any of its rights and obligations hereunder, unless such rights and obligations are assigned by such Investor to (a) any person or entity to which Registrable Securities are transferred by such Investor, or (b) to any
Affiliate or any partner, member or stockholder of such Investor, and, in each case, such transferee shall be deemed an “Investor” for purposes of this Agreement; provided that such assignment of rights shall be contingent upon the
transferee providing a written instrument to the Company notifying the Company of such transfer and assignment and agreeing in writing to be bound by the terms of this Agreement, and, in the case of an assignment pursuant to clause (a) above
(but not pursuant to clause (b) above), the Board approves such transfer and assignment, which approval shall not be unreasonably withheld, conditioned or delayed. 

6.13 Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon
any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be
construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or
default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or
conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not
alternative. 
 6.14 Dispute Resolution. Any unresolved controversy or claim arising out of or relating to
Section 5.8 of this Agreement shall be submitted to arbitration by one arbitrator mutually agreed upon by the parties, and if no agreement can be reached within thirty (30) days after names of potential arbitrators
have been proposed by the American Arbitration Association (the “AAA”), then by one arbitrator having reasonable experience in corporate finance transactions of the type provided for in this Agreement and who is chosen by the AAA.
The arbitration shall take place in New York, NY, in accordance with the AAA rules then in effect, and judgment upon any award rendered in such arbitration will be final, binding and non-appealable and may be
entered in any court having jurisdiction thereof. There shall be limited discovery prior to the arbitration hearing as follows: (a) exchange of witness lists and copies of documentary evidence and documents relating to or arising out of the
issues to be arbitrated, (b) depositions of all party witnesses and (c) such other depositions as may be allowed by the arbitrators upon a showing of good cause. Depositions shall be conducted in accordance with the New York Code of Civil
Procedure, the arbitrator shall be required to provide in writing to the parties the basis for the award or order of such arbitrator, and a court reporter shall record all hearings, with such record constituting the official transcript of such
proceedings. The prevailing party shall be entitled to reasonable attorney’s fees, costs, and necessary disbursements in addition to any other relief to which such party may be entitled. The arbitration procedures set forth in this
Section 6.14 shall be the sole and exclusive dispute resolution mechanism for any unresolved controversy or claim arising out of or relating to Section 5.9 hereof. 

[Remainder of Page Intentionally Left Blank] 

  
 25 

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

			
	COMPANY:
	
	Olo Inc.
		
	By:	 	 /s/ Noah Glass

	Name:	 	Noah Glass
	Title:	 	Founder and Chief Executive Officer

  
 [Signature Page to
Investors’ Rights Agreement] 

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

	
	KEY HOLDERS:
	
	Noah Glass
	
	 /s/ Noah Glass

  
 [Signature Page to
Investors’ Rights Agreement] 

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

			
	KEY HOLDERS:
	
	Glass Family Trust
		
	By:	 	 /s/ Maeve H. Glass

	Name:	 	Maeve H. Glass
	Title:	 	Trustee

  
 [Signature Page to
Investors’ Rights Agreement] 

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

			
	INVESTORS:
	
	Wellington Hadley Harbor Aggregator III, L.P.
	
	 By: Wellington Management Company LLP,

as investment advisor

		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Managing Director & Counsel
		
	Address:	 	 280 Congress Street
 Boston, MA
02210

  
 [Signature Page to
Investors’ Rights Agreement] 

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

			
	INVESTORS:
	
	Hospitality Investment Partners
		
	By:	 	 /s/ Michael C. Mc uinn

	Name:	 	Michael C. Mc uinn
	Title:	 	Agent

  
 [Signature Page to
Investors’ Rights Agreement] 

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

			
	INVESTORS:
	
	Raqtinda Investments LLC
		
	By:	 	 /s/ Peter Rosenberg

	Name:	 	Peter Rosenberg
	Title:	 	Manager

  
 [Signature Page to
Investors’ Rights Agreement] 

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

			
	INVESTORS:
	
	RPII Order LLC
		
	By:	 	 /s/ Alfred Chianese

	Name:	 	Alfred Chianese
	Title:	 	Vice President

  
 [Signature Page to
Investors’ Rights Agreement] 

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

			
	INVESTORS:
	
	RRE Leaders II, L.P.
	
	By: RRE Leaders GP II, LLC
		
	By:	 	 /s/ William D. Porteous

	Name:	 	William D. Porteous
	Title:	 	General Partner and COO

  
 [Signature Page to
Investors’ Rights Agreement] 

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

			
	INVESTORS:
	
	RRE Ventures IV, L.P.
	
	By: RRE Ventures GP IV, LLC, its General Partner
		
	By:	 	 /s/ William D. Porteous

	Name:	 	William D. Porteous
	Title:	 	General Partner and COO

  
 [Signature Page to
Investors’ Rights Agreement] 

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

			
	INVESTORS:
	
	Staley Capital Fund I, LP
	
	By: Staley Capital Management, LLC
		
	By:	 	 /s/ Warren C. Smith, Jr. 

	Name:	 	Warren C. Smith, Jr. 
	Title:	 	Managing Director
	
	Staley Capital Olo Fund LLC
	
	By: Staley Capital Management, LLC
		
	By:	 	 /s/ Warren C. Smith, Jr. 

	Name:	 	Warren C. Smith, Jr.
	Title:	 	Managing Director

  
 [Signature Page to
Investors’ Rights Agreement] 

 SCHEDULE A 

INVESTORS 
 Name and
Address 
 RPII Order LLC 
 c/o
The Raine Group LLC 
 65 East 55th Street, 24th Floor 

New York, NY 10022 
 Attention:
Legal Department 
 Email: legal@raine.com 

Fax: (212) 603-5501 

With a copy (which shall not constitute notice) to: 

Pillsbury Winthrop Shaw Pittman LLP 

31 West 52nd Street 
 New York, NY
10019-6131 
 Attn: Stephen B. Amdur 

Staley Capital Fund I, LP 
 c/o Staley
Capital Management, LLC 
 20 William St #270 

Wellesley, MA 02481 
 Attention:
Warren C. Smith Jr., Managing Director 
 rsmith@staleycapital.com 

Staley Capital Olo Fund LLC 
 c/o Staley
Capital Management, LLC 
 20 William St #270 

Wellesley, MA 02481 
 Attention:
Warren C. Smith Jr., Managing Director 
 rsmith@staleycapital.com 

RRE Leaders II, L.P. 
 130 East 59th
Street, 17th floor 
 New York, NY 10022 

Attn: William D. Porteous 
 Email:
coo@rre.com and rz@rre.com 
 RRE Ventures IV, L.P. 

130 East 59th Street, 17th floor 

New York, NY 10022 
 Attn: William
D. Porteous 
 Email: coo@rre.com and rz@rre.com 

 Hospitality Investment Partners 

191 North Wacker, Suite 1500 

Chicago, IL 60606 Attn: Marc Bassewitz 

Jonathan Rosen 
 32 West 18th Street, 5A 
 New York, NY 10011 

Dan Levitan 
 c/o Maveron 

411 First Avenue South, Suite 600 

Seattle, WA 98104 
 Battery Ventures XII, L.P.

 One Marina Park Drive, Suite 1100 

Boston, MA 02210 
 Telephone:
(617) 948-3600 
 Email: legal@battery.com 

Battery Investment Partners XII, LLC 
 One
Marina Park Drive, Suite 1100 
 Boston, MA 02210 

Telephone: (617) 948-3600 

Email: legal@battery.com 
 Battery Ventures
XII Side Fund, L.P. 
 One Marina Park Drive, Suite 1100 

Boston, MA 02210 
 Telephone:
(617) 948-3600 
 Email: legal@battery.com 

John Curtius 
 c/o Tiger Global
Management, LLC 
 9 West 57th Street, 35th Floor 

New York, NY 10019 
 Email:
sboyd@tigerglobal.com 
 Raqtinda Investments LLC 

c/o STONEHAGE FLEMING US LLC 
 One
Liberty Place 
 1650 Market Street, 26th Floor 

Philadelphia, PA 19103 

 Tiger Global Private Investment Partners XI, L.P. 

c/o Tiger Global Management, LLC 

Attention: Steven D. Boyd 
 9 West
57th Street, 35th Floor 
 New York, NY 10019 

Telephone: (212) 984-2119 

Email: sboyd@tigerglobal.com 

Wellington Hadley Harbor Aggregator III, L.P. 

c/o Wellington Management Company LLP 

Legal and Compliance 
 280
Congress Street 
 Boston, MA 02210 

Attn: Valerie Tipping, Managing Director and Counsel 

Email: VNTipping@wellington.com 

With a copy, which shall not constitute notice, to: 

Wilmer Cutler Pickering Hale and Dorr LLP 

60 State Street 
 Boston, MA 02109
Attn: Jason L. Kropp 
 Email: jason.kropp@wilmerhale.com 

 SCHEDULE B 

KEY HOLDERS 
 Name
and Address 
 Noah Glass 
 39 W. 74th Street, Apt. 3A

 New York, NY 10023 
 Glass Family Trust 

39 W. 74th Street, Apt. 3A 
 New York, NY 10023 

Nick Dempster 
 31 Louise Avenue. 

Sandhurst ext. a, 
 Sandton, 2196, GAU 

South Africa 
 Craig Stockden 

P.O Box 68545 
 Brvanston 

2021 
 GAUTENG 

South Africa 
 Matthew J. Tucker 

176 Overlook Avenue 
 Great Neck, NY 11021 

Peter Benevides 
 c/o Mobo Systems, Inc. 

26 Broadway, 24th Floor 

New York, NY 10004 
 David J. Olander 

16 Brandywine Terrace 
 Morristown, NJ 07960 

David Fellows 
 3142 SW Fairview Blvd. 

Portland, OR 97205 
 Evan Sanchez 

31-61 35th St., Apt. 3F 

Astoria, NY 11106 

 Greg Shackles 

210 7th St., #2 

Brooklyn, NY 11215 
 Jimmy Gu 

79-22 Elks Road 

Elmhurst, NY 11373 
 Juan George 

19 Steep Hill Road 
 Nanuet, NY 10954 

Lars Brekken 
 2728 Thomson Ave, Unit 231 

Long Island City, NY 11101 
 Maureen Zivic 

794 Hart St., Apt. 3B 
 Brooklyn, NY 11237 

Michael Devaney 
 64 Middlebury St. 

Stamford, CT 06902 
 Scott P. Lamb 

517 Doral Circle 
 Berwyn, PA 19312 

Steven Tom 
 704 Herman Avenue 

Franklin Square, NY 11010 
 William Pullen 

2 Gold St. #4005 
 New York, NY 10038 

Andrew Murray 
 387 9th Street, #1 

Brooklyn, NY 11215 
 Alvaro Gutierrez 

85 8th Avenue, Apt. 6W 
 New York, NY 10011 

Aubrey Balkind 
 345 Indiana Ave 

Venice Beach, CA 90291 

 Harriett Balkind 

c/o Peyser & Alexander Mgmt 
 500 Fifth Ave. Suite 2700

 New York, NY 10110 
 Marty Hahnfeld 

385 Cumnock Road 
 Inverness, IL 60067 

 AMENDMENT TO AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS AMENDMENT TO AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Amendment”), by and among Olo Inc., a
Delaware corporation (the “Company”), and the persons and entities listed on the signature pages hereto (the “Undersigned Investors”), amends that certain Amended and Restated Investors’ Rights
Agreement, by and among the Company, the parties listed on Schedule A thereto (the “Investors”) and the parties listed on Schedule B thereto (the “Key Holders”), dated as of
April 28, 2020, as amended from time to time (the “Rights Agreement”), and shall be effective as of the Settlement Date (as defined in that certain Offer to Purchase dated as of June 25, 2020 (the “Tender
Offer”)) except that this Amendment shall be void and of no force and effect if the Tender Offer is terminated before the Settlement Date. Capitalized terms used herein but not otherwise defined shall have the meaning set forth in the
Rights Agreement. 
 RECITALS 

A. Whereas Battery Ventures XII, L.P., Hospitality Investment Partners, RPII Order LLC, RRE Advisors LLC, Tiger Global Private Investment
Partners XI, L.P. and Wellington Hadley Harbor Aggregator III, L.P. have offered to purchase up to 458,089 shares the Company’s Common Stock (the “Stock”) from the Eligible Stockholders (as defined in the Tender Offer)
pursuant to the Tender Offer. 
 B. In connection with the Tender Offer and subject to the closing thereof, the Undersigned Investors desire
to amend the Rights Agreement to grant RRE Advisors LLC information rights and certain rights of first offer pursuant to Sections 3 and 4 of the Rights Agreement, respectively. 

C. Section 6.7 of the Rights Agreement provides that the Rights Agreement may be waived or amended only with the written consent of
(a) the Company and (b) the holders of a majority of the Registrable Securities then outstanding (which only includes the Registrable Securities described in (i) of the definition of such term in Section 1 of the Rights
Agreement) (collectively, the “Requisite Holders”). 
 D. The Company and the Undersigned Investors, constituting the
Requisite Holders, desire to amend the Rights Agreement in accordance with the foregoing recitals. 
 AGREEMENT 

The parties hereby agree as follows: 

1. Section 6.10 of the Rights Agreement is hereby amended and restated in its entirety as follows: 

“Notwithstanding anything to the contrary contained herein, (i) if the Company issues additional shares of the Preferred Stock after
the date hereof, whether pursuant to the Purchase Agreement or otherwise, any purchaser of such shares of Preferred Stock may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement,
and thereafter shall be deemed an “Investor” for all purposes hereunder and (ii) if an Affiliate of an Investor acquires shares of Common Stock after the date hereof, such Affiliate may become a party to this Agreement by executing
and delivering an additional counterpart signature page to this Agreement, and thereafter shall be deemed an “Investor” for all purposes; provided, that the Board of Directors of the Company has not reasonably determined that such
designation is materially detrimental to the Company.” 
  

 2. Schedule A of the Rights Agreement is hereby amended to include the following persons and
entities: 
 “RRE Advisors LLC 

130 East 59th Street, 17th floor 

New York, NY 10022 
 Attention:
William D. Porteous” 
 3. RRE Advisors LLC hereby agrees to adopt and be bound by the Rights Agreement as an Investor thereunder with
the same force and effect as if RRE Advisors LLC were originally party thereto. 
 4. Except as provided herein, the Rights Agreement shall
remain unamended and in full force and effect. This Amendment may be executed in two or more counterparts each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

5. Sections 6.2 (Governing Law), 6.3 (Counterparts), 6.7 (Amendments and Waivers), 6.8 (Severability) and 6.11
(Entire Agreement) of the Rights Agreement shall apply to this Amendment mutatis mutandi. 
 [Signature pages follow]

  

  
 - 2 - 

 The parties have executed this Amendment to Amended and Restated Investors’ Rights
Agreement as of the date first written above. 
  

			
	COMPANY:
	
	OLO INC.

 
			
		
	By:	 	 /s/ Noah Glass

 
			
	Name:	 	Noah Glass
	Title:	 	CEO

  

  
 SIGNATURE PAGE TO AMENDMENT TO
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 The parties have executed this Amendment to Amended and Restated Investors’ Rights
Agreement as of the date first written above. 
  

			
	INVESTORS:
	
	RPII Order LLC
		
	By:	 	 /s/Alfred Chianese

			
	Name:	 	Alfred Chianese
	Title:	 	Vice President

  

  
 SIGNATURE PAGE TO AMENDMENT TO
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 The parties have executed this Amendment to Amended and Restated Investors’ Rights
Agreement as of the date first written above. 
 INVESTORS (CONT’D): 

 

			
	STALEY CAPITAL FUND I, LP
	
	By: Staley Capital Management, LLC
		
	By:	 	 /s/ Warren C. Smith, Jr.

			
	Name:	 	Warren C. Smith, Jr.
	Title:	 	Managing Director
	
	STALEY CAPITAL OLO FUND LLC
	
	By: Staley Capital Management, LLC

			
		
	By:	 	 /s/ Warren C. Smith, Jr.

			
	Name:	 	Warren C. Smith, Jr.
	Title:	 	Managing Director

  

  
 SIGNATURE PAGE TO AMENDMENT TO
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 The parties have executed this Amendment to Amended and Restated Investors’ Rights
Agreement as of the date first written above. 
 INVESTORS (CONT’D): 

TIGER GLOBAL PRIVATE INVESTMENT PARTNERS XI, L.P. 
  

			
	By: Tiger Global PIP Performance XI, L.P.
	Its:	 	General Partner
	
	By: Tiger Global PIP Management XI, Ltd.
	Its:	 	General Partner
		
	By:	 	 /s/ Steven Boyd

			
	Name: Steven Boyd
	Title:   General Counsel

  

  
 SIGNATURE PAGE TO AMENDMENT TO THIRD
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 The parties have executed this Amendment to Amended and Restated Investors’ Rights
Agreement as of the date first written above. 
  

			
	INVESTORS (CONT’D):
	
	WELLINGTON HADLEY HARBOR AGGREGATOR III, L.P.
	 By: Wellington Management Company LLP.

as investment advisor

		
	By:	 	 /s/ Valerie N. Tipping

	Name: Valerie N. Tipping
	Title:   Managing Director and Counsel

 SIGNATURE PAGE TO AMENDMENT TO THIRD AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

 The parties have executed this Amendment to Amended and Restated Investors’ Rights
Agreement as of the date first written above. 
  

			
	INVESTORS (CONT’D):
	
	RRE VENTURES IV, L.P.
	By: RRE Ventures GP IV, LLC, its General Partner

			
		
	By:	 	 /s/ William D. Porteous

			
	Name: William D. Porteous
	Title:   General Partner and COO
	
	RRE LEADERS II, L.P.
	By: RRE Ventures GP II, LLC

			
		
	By:	 	 /s/ William D. Porteous

			
	Name: William D. Porteous
	Title:   General Partner and COO
	
	TRANSFEREE:
	
	RRE ADVISORS LLC
	By: RRE Leaders GP, II, LLC

			
		
	By:	 	 /s/ William D. Porteous

			
	Name: William D. Porteous
	Title:   General Partner and COO

 SIGNATURE PAGE TO AMENDMENT TO THIRD AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENTEX-10.2

 Exhibit 10.2 

Execution Version 
 OLO,
INC. 
 AMENDED AND RESTATED 

LOAN AND SECURITY AGREEMENT 
  

 This AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Agreement”) is entered into as of
February 11, 2020, by and between PACIFIC WESTERN BANK, a California state chartered bank (“Bank”), and Olo, Inc., a Delaware corporation (“Borrower”). 

RECITALS 
 Borrower (formerly known as
MOBO SYSTEMS, INC.) and Bank (as successor in interest by merger to SQUARE 1 BANK) are parties to that certain Loan and Security Agreement dated as of May 16, 2012, as amended by that certain First Amendment to Loan and Security Agreement dated
as of April 8, 2013, that certain Second Amendment to Loan and Security Agreement dated as of July 31, 2014, that certain Third Amendment to Loan and Security Agreement dated as of June 1, 2015, that certain Fourth Amendment to Loan
and Security Agreement dated as of August 5, 2015, that certain Fifth Amendment to Loan and Security Agreement dated as of April 26, 2016, that certain Sixth Amendment to Loan and Security Agreement dated as of July 26, 2016, that
certain Seventh Amendment to Loan and Security Agreement dated as of January 20, 2017, that certain Eighth Amendment to Loan and Security Agreement dated as of January 10, 2018, that certain Ninth Amendment to Loan and Security Agreement
dated as of March 16, 2018, that certain Tenth Amendment to Loan and Security Agreement dated as of December 1, 2018, that certain Eleventh Amendment to Loan and Security Agreement dated as of April 4, 2019, that certain Twelfth
Amendment to Loan and Security Agreement dated as of May 6, 2019, and that certain Thirteenth Amendment to Loan and Security Agreement dated as of November 12, 2019 (the “Original Agreement”). Borrower and Bank wish to amend and
restate the terms of the Original Agreement in accordance with the terms hereof in order for Borrower to obtain additional credit from time to time from Bank. This Agreement sets forth the terms on which Bank will advance credit to Borrower and
Borrower will repay the amounts owing to Bank. 
 AGREEMENT 

The parties agree as follows: 
  

	 	1.	 DEFINITIONS AND CONSTRUCTION. 

1.1 Definitions. As used in this Agreement, all capitalized tenns shall have the definitions set forth on Exhibit A. Any term
used in the Code and not defined herein shall have the meaning given to the term in the Code. 
 1.2 Accounting Terms. Any
accounting term not specifically defined on Exhibit A shall be construed in accordance with GAAP and all calculations shall be made in accordance with GAAP (except for non-compliance with FAS 123 in monthly
reporting). The term “financial statements” shall include the accompanying notes and schedules. 

	 	2.	 LOAN AND TERMS OF PAYMENT. 

 

	 	2.1	 Credit Extensions. 

(a) Promise to Pay. Borrower promises to pay to Bank, in lawful money of the United States of America, the aggregate unpaid
principal amount of all Credit Extensions made by Bank to Borrower, together with interest on the unpaid principal amount of such Credit Extensions at rates in accordance with the terms hereof 

(b) Advances Under Formula Revolving Line. 

(i) Amount. Subject to and upon the terms and conditions of this Agreement, including without limitation the Aggregate Borrowing
Limit set forth in Section 2.2 hereof, Borrower may request Formula Advances in an aggregate outstanding principal amount not to exceed the lesser of: (A) the Formula Revolving Line; or (B) the Borrowing Base, in each case less any
Ancillary Services reducing the Formula Revolving Line under clauses (A)-(E) of subsection 2.l(b)(iii) below. Amounts borrowed pursuant to this Section 2.l(b) may be repaid and reborrowed at any time prior to the Formula Revolving Maturity
Date, at which time all Formula Advances under this Section 2.l(b) shall be immediately due and payable. Borrower may prepay any Formula Advances without penalty or premmm. 

(ii) Form of Request. Whenever Borrower desires a Formula Advance, Borrower will notify Bank by email no later than 3:30 p.m.
Eastern time (2:30 p.m. Eastern time for wire transfers), on the Business Day that the Formula Advance is to be made. Each such notification shall be given by a Loan Advance/Paydown Request Form in substantially the form of Exhibit C. Bank is
authorized to make Formula Advances under this Agreement, based upon instructions received from an Authorized Officer, or without instructions if in Bank’s discretion such Formula Advances are necessary to meet Obligations which have become due
and remain unpaid. Bank shall be entitled to rely on any notice given by a Person whom Bank reasonably believes to be an Authorized Officer, and Borrower shall indemnify and hold Bank harmless for any damages, loss, costs and expenses suffered by
Bank as a result of such reliance. Bank will credit the amount of Formula Advances made under this Section 2.l(b) to Borrower’s deposit account. 

(iii) Ancillary Services Sublimit. Subject to the availability under the Formula Revolving Line, at any time and from time to
time from the date hereof through the Business Day immediately prior to the Formula Revolving Maturity Date, Borrower may request the provision of Ancillary Services from Ban1c. The aggregate limit of the Ancillary Services shall not exceed the
Ancillary Services Sublimit, provided that availability under the Formula Revolving Line shall be reduced by (A) the Letter of Credit Exposure, (B) the aggregate limits of corporate credit card services provided to Borrower, (C) the
total amount of any Automated Clearing House processing reserves, (D) the applicable Foreign Exchange Reserve Percentage, and (E) any other reserves taken by Bank in connection with other treasury management services requested by Borrower
and approved by Ban1c. In addition, Ban1c may, in its sole discretion, charge as Formula Advances any amounts for which Ban1c becomes liable to third parties in connection with the provision of the Ancillary Services. The terms and conditions
(including repayment and fees) of such Ancillary Services shall be subject to the terms and conditions of Ban1c’s standard forms of application and agreement for the applicable Ancillary Services, which Borrower hereby agrees to execute. 

  
 2 

 (iv) Collateralization of Obligations Extending Beyond Maturity. If Borrower
has not secured to Bank’s satisfaction its obligations with respect to any Ancillary Services by the Fonnula Revolving Maturity Date, then, effective as of such date, the balance in any deposit accounts held by Bank and the certificates of
deposit or time deposit accounts issued by Bank in Borrower’s name (and any interest paid thereon or proceeds thereof, including any amounts payable upon the maturity or liquidation of such certificates or accounts), shall automatically secure
such obligations to the extent of the then continuing or outstanding Ancillary Services. Borrower authorizes Bank to hold such balances in pledge and to decline to honor any drafts thereon or any requests by Borrower or any other Person to pay or
otherwise transfer any part of such balances for so long as the applicable Ancillary Services are outstanding or continue. 
 (c)
Advances Under Non-Formula Revolving Line. 
 (i) Amount. Subject to and upon the
terms and conditions of this Agreement, including without limitation the Aggregate Borrowing Limit set forth in Section 2.2 hereof, Borrower may request Non-Fonnula Advances in an aggregate outstanding
principal amount not to exceed the Non-Formula Revolving Line. Amounts borrowed pursuant to this Section 2. l(c) may be repaid and re-borrowed at any time prior to
the Non-Formula Revolving Maturity Date, at which time all Non-Formula Advances under this Section 2.l(c) shall be immediately due and payable.· Borrower may
prepay any Non-Formula Advances without penalty or premium. 
 (ii) Form of Request.
Whenever Borrower desires a Non-Formula Advance, Borrower will notify Bank by email no later than 3:30 p.m. Eastern time (2:30 p.m. Eastern time for wire transfers), on the Business Day that the Non-Formula Advance is to be made. Each such notification shall be given by a Loan Advance/Paydown Request Form in substantially the form of Exhibit C. Bank is authorized to make
Non-Formula Advances under this Agreement, based upon instructions received from an Authorized Officer, or without instructions if in Bank’s discretion such
Non-Formula Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any notice given by a Person whom Bank reasonably believes to be an Authorized
Officer, and Borrower shall indemnify and hold Ban1c harmless for any damages, loss, costs and expenses suffered by Ban1c as a result of such reliance. Bank will credit the amount of Non-Fonnula Advances made
under this Section 2.l(c) to Borrower’s deposit account. 
 2.2 Aggregate Borrowing Limit; Overadvances. The
aggregate amount of outstanding Credit Extensions hereunder shall at no time exceed the Aggregate Borrowing Limit. If the aggregate amount of the outstanding Fonnula Advances exceeds the lesser of the Fonnula Revolving Line or the Borrowing Base at
any time, Borrower shall immediately pay to Ban1c, in Cash, the amount of such excess. If the aggregate amount of the outstanding Non-Formula Advances exceeds the
Non-Formula Revolving Line at any time, Borrower shall immediately pay to Ban1c, in Cash, the amount of such excess. If the aggregate amount of outstanding Credit Extensions hereunder exceeds the Aggregate
Borrowing Limit at any time, Borrower shall immediately pay to Bank, in Cash, the amount of such excess. 

  
 3 

 2.3 Interest Rates, Payments, and Calculations. 

(a) Interest Rates. 

(i) Formula Advances. Except as set forth in Section 2.3(b), the Formula Advances shall bear interest, on the outstanding
daily balance thereof, at a variable annual rate equal to the greater of: (A) 0.20% above the Prime Rate then in effect or (B) 4.50%. 

(ii) Non-Formula Advances. Except as set forth in Section 2.3(b), the Non-Formula Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to the greater of (A) 0.75% above the Prime Rate then in effect; or (B) 5.00%. 

(b) Late Fee; Default Rate. If any payment is not made within 15 days after the date such payment is due, Borrower shall pay
Bank a late fee equal to the lesser of (i) 5% of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the
continuance of an Event of Default, at a rate equal to 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default (such rate, the “Default Rate”); provided that, Bank shall provide
written notice to Borrower of such increase prior to implementing the Default Rate except for an Event of Default described in Section 8.5, for which such increase shall be automatic without the requirement of notice. In all such events, and
notwithstanding the date on which application of the Default Rate is communicated to Borrower, the Default Rate may be accrued (at the election of Bank) from the initial date of any Event of Default until all existing Events of Default are waived in
writing in accordance with the terms of this Agreement. 
 (c) Payments. Interest under the Formula Revolving Line and under
the Non-F01mula Revolving Line shall be due and payable on the 14th calendar day of each month during the tenn hereof and on the Formula Revolving Maturity
Date and on the Non-Formula Revolving Maturity Date. Bank shall, at its option, charge such interest, all Bank Expenses, and all Periodic Payments against any of Borrower’s deposit accounts or against the
Formula Revolving Line and the Non-Formula Revolving Line, in which case those amounts shall thereafter accrue interest at the rate then applicable hereunder. Any interest not paid when due shall be compounded
by becoming a part of the Obligations, and such interest shall thereafter accrue interest at the rate then applicable hereunder. 

(d) Computation. In the event the Prime Rate is changed from time to time hereafter, the applicable rate of interest hereunder
shall be increased or decreased, effective as of the day the Prime Rate is changed, by an amount equal to such change in the Prime Rate. All interest chargeable under the Loan Documents shall be computed on the basis of a 360 day year for the actual
number of days elapsed. 

  
 4 

 2.4 Crediting Payments. While no Event of Default has occurred and is
continuing, Ban1c shall credit a wire transfer of funds, check or other item of payment to such deposit account or Obligation as Borrower specifies. After the occurrence and during the continuance of an Event of Default, Bank shall have the right,
in its sole discretion, to immediately apply any wire transfer of funds, check, or other item of payment Bank may receive to conditionally reduce Obligations, but such application of funds shall not be considered a payment on account unless such
payment is of immediately available federal funds or unless and until such check or other item of payment is honored when presented for payment. Notwithstanding anything to the contrary contained herein, any wire transfer or payment received by Bank
after 3:30 p.m. Eastern time shall be deemed to have been received by Bank as of the opening of business on the immediately following Business Day. Whenever any payment to Bank under the Loan Documents would otherwise be due (except by reason of
acceleration) on a date that is not a Business Day, such payment shall instead be due on the next Business Day, and additional fees or interest, as the case may be, shall accrue and be payable for the period of such extension. 

2.5 Fees. Borrower shall pay to Bank the following: 

(a) Facility Fee. On or before the Closing Date, a fee equal to $3,500, which shall be nonrefundable; 

(b) Bank Expenses. On the Closing Date, all Bank Expenses incurred through the Closing Date, and, after the Closing Date, all
Banl<: Expenses, as and when they become due; 
 (c) Success Fee/Final Payment Fee. Upon the earlier to occur of (i) an
Acquisition of Borrower or (ii) tennination of this Agreement, whether in connection with acceleration, prepayment in full, or otherwise, a nonrefundable fee equal to 2.5% of the difference between (x) the highest Aggregate Borrowing Limit
in effect during the term of this Agreement and (y) $1,000,000. This Section 2.5(c) shall survive any tennination of this Agreement; and 

(d) Liquidity Event Fee. Upon a Liquidity Event, a nonrefundable fee equal to 1.0% of the difference between (i) the
highest outstanding principal balance during the term of this Agreement and (ii) $3,500,000 (the “Liquidity Event Fee”). This Section 2.5(d) shall survive until the later of (x) twenty-four (24) months after any tennination
of this Agreement or (y) January 31, 2024. If this Agreement is tenninated prior to payment of the Liquidity Event Fee, Borrower shall give Bank written notice of the first Liquidity Event to occur thereafter and shall pay the Liquidity Event
Fee upon the closing of such Liquidity Event. 
 2.6 Term. This Agreement shall become effective on the Closing Date and,
subject to Section 12.7, shall continue in full force and effect for so long as any Obligations (other than inchoate indemnity obligations) remain outstanding or Bank has any obligation to make Credit Extensions under this Agreement.
Notwithstanding the foregoing, Banl<: shall have the right to tenninate its obligation to make Credit Extensions under this Agreement immediately and without notice upon the occurrence and during the continuance of an Event of Default. Borrower
may tenninate the Non-Formula Revolving Line at any time prior to the Non-Fonnula Revolving Maturity Date, upon two Business Days written notice to Bank, at which time
the principal amount of all Non-Formula Advances, the unpaid interest thereon, and all other 

  
 5 

 
Obligations (other than inchoate indemnity obligations) relating to the Non-Formula Revolving Line shall be immediately due and payable. Borrower may
terminate the Formula Revolving Line at any time prior to the Formula Revolving Maturity Date, upon two Business Days written notice to Bank, at which time the principal amount of all Formula Advances, the unpaid interest thereon, and all other
Obligations (other than inchoate indemnity obligations) relating to the Formula Revolving Line shall be immediately due and payable. 
  

	 	3.	 CONDITIONS OF LOANS. 

3.1 Conditions Precedent to Closing. The agreement of Bank to enter into this Agreement on the Closing Date is subject to the
condition precedent that Bank shall have received, in form and substance satisfactory to Bank, each of the following items and completed each of the following requirements: 

(a) this Agreement; 

(b) an officer’s certificate of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this
Agreement; 
 (c) [Reserved]; 

(d) current SOS Reports indicating that except for Permitted Liens, there are no other security interests or Liens of record in the
Collateral; 
 (e) a Borrower Information Certificate; 

(f) payment of the fees and Bank Expenses then due specified in Section 2.5, which may be debited from any of Borrower’s
accounts with Bank; and 
 (g) such other documents or certificates, and completion of such other matters, as Bank may
reasonably request. 
 3.2 Conditions Precedent to all Credit Extensions. The obligation of Bank to make each Credit Extension,
including the initial Credit Extension, is contingent upon the Borrower’s compliance with Section 3.1 above, and is further subject to the following conditions: 

(a) timely receipt by Bank of the Loan Advance/Paydown Request Form as provided in Section 2.1; 

(b) Borrower shall be in compliance with Section 6.6 hereof; 

(c) Bank shall have received (i) a company prepared consolidated and consolidating balance sheet, income statement, and statement
of cash flows covering Borrower’s operations, in a form reasonably acceptable to Bank and certified by a Responsible Officer, (ii) a Compliance Certificate and (iii) a Borrowing Base Certificate, in each case for the month most
recently ended prior to the date 30 days preceding the date of the Loan Advance/Paydown Request Form described in Section 3.2(a) above; and 

  
 6 

 (d) the representations and warranties contained in Section 5 shall be true and
correct in all material respects on and as of the date of such Loan Advance/Paydown Request Form and on the effective date of each Credit Extension as though made at and as of each such date, and no Event of Default shall have occurred and be
continuing, or would exist after giving effect to such Credit Extension (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date).
The making of each Credit Extension shall be deemed to be a representation and warranty by Borrower on the date of such Credit Extension as to the accuracy of the facts referred to in this Section 3.2. 

 

	 	4.	 CREATION OF SECURITY INTEREST. 

4.1 Grant of Security Interest. Borrower grants and pledges to Bank a continuing security interest in the Collateral to secure
prompt repayment of any and all Obligations and to secure prompt perfonnance by Borrower of each of its covenants and duties under the Loan Documents (other than the Warrant). Except for Pennitted Liens or as disclosed in the Schedule, such security
interest constitutes a valid, first priority security interest in the presently existing Collateral, and will constitute a valid, first priority security interest in later-acquired Collateral. Borrower also hereby agrees not to sell, transfer,
assign, mortgage, pledge, lease, grant a security interest in, or encumber any of its Intellectual Property except for Pennitted Liens and Pennitted Transfers. Notwithstanding any tennination of this Agreement or of any filings undertaken related to
Bank’s rights under the Code, Bank’s Lien on the Collateral shall remain in effect for so long as any Obligations (other than inchoate indemnity obligations) are outstanding. Upon indefeasible payment in full in Cash of the Obligations
(other than inchoate indemnity obligations) in their entirety and at such time as Bank’s obligation to make Credit Extensions has tenninated, Bank shall, at Borrower’s sole cost and expense, and upon receipt of a written request from
Borrower to do so and pursuant to a payoff letter between Bank and Borrower, release its Liens in the Collateral and all rights therein shall revert to Borrower. 

4.2 Perfection of Security Interest. Borrower authorizes Bank to file at any time financing statements, continuation statements,
and amendments thereto that (i) either specifically describe the Collateral or describe the Collateral as all assets of Borrower of the kind pledged hereunder, and (ii) contain any other infonnation required by the Code for the sufficiency
of filing office acceptance of any financing statement, continuation statement, or amendment, including whether Borrower is an organization, the type of organization and any organizational identification number issued to Borrower, if applicable.
Borrower shall have possession of the Collateral, except where expressly otherwise provided in this Agreement or where Bank chooses to perfect its security interest by possession in addition to the filing of a financing statement. Where Collateral
is in possession of a third party bailee, Borrower shall take such steps as Ban1c reasonably requests for Ban1c to, subject to Section 7.10 below, obtain an aclmowledgment, in fonn and substance reasonably satisfactory to Ban1c, of the bailee
that the bailee holds such Collateral for the benefit of Ban1c. Where Collateral consists of investment property, deposit accounts, letter-of-credit rights or electronic
chattel paper (as such items and the term “control” are defined in Revised Article 9 of the Code), Borrower shall take such steps 

  
 7 

 
as Bank requests for Bank to obtain “control” of such Collateral by causing the securities intennediary or depositary institution or issuing bank to execute a control agreement (or
similar arrangement) in form and substance reasonably satisfactory to Bank. Borrower will not create any chattel paper without placing a legend on the chattel paper acceptable to Bank indicating that Bank has a security interest in the chattel
paper. Borrower from time to time may deposit with Bank specific cash collateral to secure specific Obligations; Borrower authorizes Bank to hold such specific balances in pledge and to decline to honor any drafts thereon or any request by Borrower
or any other Person to pay or otherwise transfer any part of such balances for so long as the specific Obligations are outstanding. Borrower shall take such other actions as Bank reasonably requests to perfect its security interests granted under
this Agreement. 
  

	 	5.	 REPRESENTATIONS AND WARRANTIES. 

Borrower represents and warrants as follows: 

5.1 Due Organization and Qualification. Borrower and each Subsidiary is duly existing under the laws of the state in which it is
organized and qualified and licensed to do business in any state in which the conduct of its business or its ownership of property requires that it be so qualified, except where the failure to do so would not reasonably be expected to cause a
Material Adverse Effect. 
 5.2 Due Authorization; No Conflict. The execution, delivery, and performance of the Loan Documents
are within Borrower’s powers, have been duly authorized, and are not in conflict with nor constitute a breach of any provision contained in Borrower’s Certificate of Incorporation or Bylaws, nor will they constitute an event of default
under any material agreement by which Borrower is bound. Borrower is not in default under any agreement by which it is bound, except to the extent such default would not reasonably be expected to cause a Material Adverse Effect. 

5.3 Collateral. Borrower has rights in or the power to transfer the Collateral, and its title to the Collateral is free and clear
of Liens, adverse claims, and restrictions on transfer or pledge except for Permitted Liens. Other than movable items of personal property such as laptop computers, all tangible personal property Collateral, except such Collateral having an
aggregate book value not in excess of $500,000 is located solely in the Collateral State. The contracts that generate fees included in the calculation of Recurring Revenue are in full force and effect as of the date of such inclusion. Borrower has
not received notice of actual or imminent Insolvency Proceeding of any counterparty to a contract that generates fees included in the calculation of Recurring Revenue. All Inventory is in all material respects of good and merchantable quality, free
from all material defects, except for Inventory for which adequate reserves have been made. Except as set forth in the Schedule or as otherwise permitted hereunder, none of Borrower’s Cash is maintained or invested with a Person other than Bank
or Bank’s affiliates. 

  
 8 

 5.4 Intellectual Property. Borrower is the sole owner of the intellectual
property created or purchased by B01Tower, except for licenses granted by Borrower to third parties in the ordinary course of business. To the best of Borrower’s lmowledge, each of the Copyrights, Trademarks and Patents created or purchased by
Borrower is valid and enforceable, and no part of the intellectual property created or purchased by Borrower has been judged invalid or unenforceable, in whole or in part, and no claim has been made to Borrower that any part of the intellectual
property created or purchased by Borrower violates the rights of any third party except to the extent such claim would not reasonably be expected to cause a Material Adverse Effect. 

5.5 Name; Location of Chief Executive Office. Except as disclosed in the Schedule and except for changes for which notice has
been given to Bank pursuant to Section 7.2, Borrower has not done business under any name other than that specified on the signature page hereof, and its exact legal name is as set forth in the first paragraph of this Agreement. Except for
changes for which notice has been given to Bank pursuant to Section 7.2, the chief executive office of Borrower is located at the address indicated in Article 10 hereof 

5.6 Litigation. Except as set forth in the Schedule, there are no actions or proceedings pending by or against Borrower or any
Subsidiary before any court or administrative agency in which a likely adverse decision would reasonably be expected to have a Material Adverse Effect. 

5.7 No Material Adverse Change in Financial Statements. All consolidated and consolidating financial statements related to
Borrower and any Subsidiary that are delivered by Borrower to Bank fairly present in all material respects Borrower’s consolidated and consolidating financial condition as of the date thereof and Borrower’s consolidated and consolidating
results of operations for the period then ended. There has not been a material adverse change in the consolidated or in the consolidating fmancial condition of Borrower since the date of the most recent of such financial statements submitted to
Bank. 
 5.8 Solvency, Payment of Debts. Borrower is able to pay its debts (including trade debts) as they mature; the fair
saleable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; and Borrower is not left with unreasonably small capital after the transactions contemplated by this Agreement. 

5.9 Compliance with Laws and Regulations. Borrower and each Subsidiary have met the minimum funding requirements of BRISA with
respect to any employee benefit plans subject to BRISA. No event has occurred resulting from Borrower’s failure to comply with BRISA that is reasonably likely to result in Borrower’s incurring any liability that could have a Material
Adverse Effect. Borrower is not an “investment company’’ or a company “controlled” by an “investment company’’ within the meaning of the Investment Company Act of 1940. Borrower is not engaged principally, or
as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulations T and U of the Board of Governors of the Federal Reserve System). Borrower has not
violated any statutes, laws, ordinances or rules applicable to it, including any Environmental Laws, the violation of which would reasonably be expected to have a Material Adverse Effect. Borrower and each Subsidiary have filed or caused to be filed
all tax returns required to be filed, and have paid, or have made adequate provision for the payment of, all taxes reflected therein except those being contested in good faith with adequate reserves under GAAP or where the failure to file such
returns or pay such taxes would not reasonably be expected to have a Material Adverse Effect. 

  
 9 

 5.10 Subsidiaries. Borrower does not own any stock, partnership interest or
other equity securities of any Person, except for Permitted Investments. 
 5.11 Government Consents. Borrower and each
Subsidiary have obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all governmental authorities that are necessary for the continued operation of Borrower’s business as
currently conducted, except where the failure to do so would not reasonably be expected to cause a Material Adverse Effect. 
 5.12
Inbound Licenses. Except as disclosed on the Schedule (as the same may be updated from time to time pursuant to Section 6.8), Borrower is not a party to, nor is bound by, any material inbound license or other agreement important for the
conduct of Borrower’s business that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or other agreement or any other property important for the conduct of Borrower’s
business, other than this Agreement or the other Loan Documents. 
 5.13 Full Disclosure. No representation, warranty or other
statement made by Borrower in any certificate or written statement furnished to Bank taken together with all such certificates and written statements furnished to Bank contains any untrue statement of a material fact or omits to state a material
fact necessary in order to make the statements contained in such certificates or statements not misleading in light of the circumstances in which they were made, it being recognized by Bank that the projections and forecasts provided by Borrower in
good faith and based upon reasonable assumptions are not to be viewed as facts and that actual results during the period or periods covered by any such projections and forecasts may differ from the projected or forecasted results. 

 

	 	6.	 AFFIRMATIVE COVENANTS. 

Borrower covenants that, until payment in full of all outstanding Obligations (other than inchoate indemnity obligations), and for so long as
Bank may have any commitment to make a Credit Extension hereunder, Borrower shall do all of the following: 
 6.1 Good Standing and
Government Compliance. Borrower shall maintain its and each of its Subsidiaries’ corporate existence and good standing in the respective states of fonnation, shall maintain qualification and good standing in each other jurisdiction in which
the failure to so qualify would reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the state in which Borrower is organized, if
applicable. Borrower shall meet, and shall cause each Subsidiary to meet, the minimum funding requirements of BRISA with respect to any employee benefit plans subject to BRISA. Borrower shall comply, and shall cause each Subsidiary to comply, with
all statutes, laws, ordinances and government rules and regulations to which it is subject, including all Enviromnental Laws, and shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements,
the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect. 

  
 10 

 6.2 Financial Statements, Reports, Certificates. Borrower shall deliver to
Banlc (i) as soon as available, but in any event within 30 days after the end of each fiscal quarter ending March 31, June 30, September 30, and December 31, a company prepared consolidated and consolidating balance sheet,
income statement, and statement of cash flows covering Borrower’s operations during such period, in a form reasonably acceptable to Banlc and certified by a Responsible Officer; provided, however, that if Borrower has any outstanding Credit
Extensions, all quarterly reporting requirements set forth in this Section 6.2(i) shall instead be delivered to Banlc on a monthly basis, within 30 days after the last day of each calendar month; (ii) as soon as available, but in any event
within 180 days after the end of Borrower’s fiscal year, audited (or such other level as is required by the Investment Agreement) consolidated and consolidating financial statements of Borrower prepared in accordance with GAAP, consistently
applied, together with an opinion which is either unqualified, qualified only for going concern so long as Borrower’s investors provide additional equity as needed or otherwise consented to in writing by Bank on such financial statements of an
independent certified public accounting firm reasonably acceptable to Banlc; (iii) an annual budget approved by Borrower’s Board of Directors as soon as available but not later than February 1 of each year during the term of this
Agreement; (iv) if applicable, copies of all statements, reports and notices sent or made available generally by Borrower to its security holders or to any holders of Subordinated Debt and all reports on Forms
10-K and 10-Q filed with the Securities and Exchange Commission; (v) promptly upon receipt of notice thereof, a report of any legal actions pending or threatened
against Borrower or any Subsidiary that could reasonably be expected to result in damages or costs to Borrower or any Subsidiary of $500,000 or more; (vi) promptly upon receipt, each management letter prepared by Borrower’s independent
certified public accounting firm regarding Borrower’s management control systems, (vii) such budgets, sales projections, operating plans or other financial information generally prepared by Borrower in the ordinary course of business as
Bank may reasonably request from time to time. 
 (a) Within 30 days after the end of each fiscal quarter ending March 31,
June 30, September 30, and December 31, Borrower shall deliver to Banlc a Borrowing Base Certificate calculated as of the last day of the applicable fiscal quarter and signed by a Responsible Officer in substantially the form of
Exhibit D hereto, together with (i) detailed aged listings by invoice date of accounts receivable and accounts payable and (ii) a Chum report; provided, however, that if Borrower has any outstanding Credit Extensions, all quarterly
reporting requirements set forth in this Section 6.2(a) shall instead be delivered to Banlc on a monthly basis, within 30 days after the last day of each calendar month. 

(b) Within 30 days after the end of each fiscal quarter ending March 31, June 30, September 30, and December 31,
Borrower shall deliver to Banlc with the applicable financial statements a Compliance Certificate certified as of the last day of the applicable quarter and signed by a Responsible Officer in substantially the form of Exhibit E hereto; provided,
however, that if Borrower has any outstanding Credit Extensions, all quarterly reporting requirements set forth in this Section 6.2(b) shall instead be delivered to Bank on a monthly basis, within 30 days after the last day of each calendar
month. 

  
 11 

 (c) As soon as possible and in any event within three Business Days after becoming
aware of the occurrence or existence of an Event of Default hereunder, a written statement of a Responsible Officer setting forth details of the Event of Default, and the action which Borrower has taken or proposes to take with respect thereto. 

(d) Bank (through any of its officers, employees, or agents) shall have the right, upon reasonable prior notice, from time to time
during Borrower’s usual business hours but no more than twice a year (unless an Event of Default has occurred and is continuing), to inspect Borrower’s Books and to make copies thereof and to check, test, inspect, audit and appraise the
Collateral at Borrower’s expense in order to verify Borrower’s financial condition or the amount, condition of, or any other matter relating to, the Collateral. 

Borrower may deliver to Bank on an electronic basis any certificates, reports or information required pursuant to this Section 6.2, and
Bank shall be entitled to rely on the information contained in the electronic files, provided that Bank in good faith believes that the files were delivered by a Responsible Officer. Borrower shall include a submission date on any certificates and
reports to be delivered electronically. 
 6.3 Inventory and Equipment; Returns. Borrower shall keep all Inventory and
Equipment in good and merchantable condition, free from all material defects, except for Inventory and Equipment (i) sold in the ordinary course of business, and (ii) for which adequate reserves have been made, in all cases in the United
States and such other locations as to which Borrower gives prior written notice. Returns and allowances, if any, as between Borrower and its account debtors shall be on the same basis and in accordance with the usual customary practices of Borrower,
as they exist on the Closing Date. Borrower shall promptly notify Bank of all returns and recoveries and of all disputes and claims involving inventory having a book value of more than $500,000. 

6.4 Taxes. Borrower shall make, and cause each Subsidiary to make, due and timely payment or deposit of all material federal,
state, and local taxes, assessments, or contributions required of it by law, including, but not limited to, those laws concerning income taxes, F.I.C.A., F.U.T.A. and state disability, and will execute and deliver to Bank, on demand, proof
satisfactory to Bank indicating that Borrower or a Subsidiary has made such payments or deposits and any appropriate certificates attesting to the payment or deposit thereof; provided that Borrower or a Subsidiary need not make any payment if the
amount or validity of such payment is contested in good faith by appropriate proceedings and is reserved against (to the extent required by GAAP) by Borrower or such Subsidiary. 

6.5 Insurance. Borrower, at its expense, shall (i) keep the Collateral insured against loss or damage, and
(ii) maintain liability and other insurance, in each case as ordinarily insured against by other owners in businesses similar to Borrower’s. All such policies of insurance shall be in such form, with such companies, and in such amounts as
reasonably satisfactory to Bank. All policies of property insurance shall contain a lender’s loss payable endorsement, in a form reasonably satisfactory to Bank, showing Bank as lender’s loss payee, and all liability insurance policies
shall show, or have endorsements showing, Bank as an additional insured and specify that the insurer must give at least 20 days’ (10 days for non-payment of premium) notice to Bank before canceling its
policy for any reason. Upon 

  
 12 

 
Bank’s reasonable request (but no more than once per calendar year so long as no Event of Default has occurred and is continuing), Borrower shall furnish to Bank a copy of its policies or
certificate of insurance including any endorsements covering Bank or showing Bank as an additional insured, and 30 days prior to expiration of any policy of insurance, Borrower shall furnish to Bank a copy of its renewal policy and certificate of
insurance including any endorsements covering Bank or showing Bank as an additional insured. Upon Bank’s request, Borrower shall deliver to Bank certified copies of the policies of insurance and evidence of all premium payments. Proceeds
payable under any casualty policy will, at Borrower’s option, be payable to Borrower to replace the property subject to the claim, provided that any such replacement property shall be deemed Collateral in which Bank has been granted a first
priority security interest (subject to Permitted Liens), provided that if an Event of Default has occurred and is continuing, all proceeds payable under any such policy shall, at Bank’s option, be payable to Bank to be applied on account of the
Obligations. 
 6.6 Primary Depository. Borrower shall maintain all of its depository and operating accounts with Bank and its
primary investment accounts with Bank or Bank’s affiliates; provided that, prior to Borrower maintaining any investment accounts with Bank’s affiliates, Borrower, Bank and any such affiliate shall have entered into a securities account
control agreement with respect to any such investment accounts, in form and substance satisfactory to Bank. 
 6.7 Financial
Covenants. Borrower shall at all times maintain the following financial ratios and covenants: 
 (a) Minimum EBITDA.
Measured monthly and calculated on a trailing-three-months basis, Borrower shall achieve EBITDA of at least the amounts shown in the table immediately below for the corresponding reporting periods. 

 

					
	 Reporting Period Ending
	  	Minimum EBITDA	 
	 January 31, 2020
	  	($	1,487,000	) 
	 February 28, 2020
	  	($	2,911,000	) 
	 March 31, 2020
	  	($	5,651,000	) 
	 April 30, 2020
	  	($	5,955,000	) 
	 May 31, 2020
	  	($	5,963,000	) 
	 June 30, 2020
	  	($	4,632,000	) 
	 July 31, 2020
	  	($	3,697,000	) 
	 August 31, 2020
	  	($	3,429,000	) 
	 September 30, 2020
	  	($	3,285,000	) 
	 October 31, 2020
	  	($	2,613,000	) 
	 November 30, 2020
	  	($	1,346,000	) 
	 December 31, 2020
	  	($	64,000	) 

 (b) Minimum Revenue. Measured monthly and calculated on a cumulative basis beginning
January 1, 2020, Borrower shall achieve Revenue of at least the amounts shown in the table immediately below for the corresponding reporting periods. 

  
 13 

					
	 Reporting Period Ending
	  	Minimum Revenue	 
	 January 31, 2020
	  	$	4,215,000	 
	 February 28, 2020
	  	$	8,565,000	 
	 March 31, 2020
	  	$	13,201,000	 
	 April 30, 2020
	  	$	17,998,000	 
	 May 31, 2020
	  	$	23,043,000	 
	 June 30, 2020
	  	$	28,503,000	 
	 July 31, 2020
	  	$	34,134,000	 
	 August 31, 2020
	  	$	39,840,000	 
	 September 30, 2020
	  	$	46,065,000	 
	 October 31, 2020
	  	$	52,539,000	 
	 November 30, 2020
	  	$	59,240,000	 
	 December 31, 2020
	  	$	66,136,000	 

 For subsequent reporting periods, Bank and Borrower hereby agree that, on or before February 1 of each year during the
terms of this Agreement, Borrower shall provide Bank with a budget for such year, which shall be approved by Borrower’s Board of Directors, and Bank shall use that budget to establish the minimum EBITDA and minimum Revenue amounts for such
year, with such amounts being incorporated herein by an amendment, which Borrower hereby agrees to execute. 
 6.8 Consent of
Inbound Licensors. Prior to entering into or becoming bound by any material inbound license or agreement after the Closing Date, Borrower shall: (i) provide written notice to Banlc of the material terms of such license or agreement with a
description of its likely impact on Borrower’s business or financial condition; and (ii) in good faith use commercially reasonable efforts to obtain the consent of, or waiver by, any Person whose consent or waiver is necessary for
Borrower’s interest in such licenses or contract rights to be deemed Collateral and for Banlc to have a security interest in it that might otherwise be restricted by the terms of the applicable license or agreement, whether now existing or
entered into in the future, provided, however, that the failure to obtain any such consent or waiver shall not constitute a default under this Agreement. 

6.9 Creation/Acquisition of Subsidiaries. In the event that Borrower or any Subsidiary of Borrower creates or acquires any
Subsidiary, Borrower or such Subsidiary shall promptly notify Banlc of such creation or acquisition, and Borrower or such Subsidiary shall take all actions reasonably requested by Banlc to achieve any of the following with respect to such
“New Subsidiary” (defined as a Subsidiary formed after the date hereof during the Term of this Agreement): (i) if such New Subsidiary is organized under the laws of the United States, to cause New Subsidiary to become either
a co-Borrower hereunder or a secured guarantor with respect to the Obligations; and (ii) to grant and pledge to Banlc a perfected security interest in the Shares of such New Subsidiary. 

  
 14 

 6.10 Further Assurances. At any time and from time to time Borrower shall
execute and deliver such further instruments and take such further action as may reasonably be requested by Bank to effect the purposes of this Agreement. 
  

	 	7.	 NEGATIVE COVENANTS. 

Borrower covenants and agrees that, for so long as any credit hereunder shall be available and until the outstanding Obligations (other than
inchoate indemnity obligations) are paid in full or for so long as Bank may have any commitment to make any Credit Extensions, Borrower will not do any of the following without Bank’s prior written consent, which shall not be unreasonably
withheld: 
 7.1 Dispositions. Convey, sell, lease, license, transfer or otherwise dispose of (collectively, to
“Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, or move cash balances on deposit with Bank to accounts opened at another financial institution, other than Permitted Transfers and
Permitted Investments. 
 7.2 Change in Name, Location, Executive Office, or Executive Management; Change in Business; Change in
Fiscal Year; Change in Control. Change its name or the state of Borrower’s formation or relocate its chief executive office without 30 days prior written notification to Bank; replace or suffer the departure of its chief executive officer
or chief financial officer without delivering written notification to Bank within 10 days; fail to appoint an interim replacement or fill a vacancy in the position of chief executive officer or chief financial officer for more than 30 consecutive
days; suffer a change on its board of directors which results in the failure of at least one partner of RRE Ventures or its Affiliates to serve as a voting member, or suffer the resignation of one or more directors from its board of directors in
anticipation of Borrower’s insolvency, in each case without the prior written consent of Bank which may be withheld in Bank’s sole discretion; take action to liquidate, wind up, or otherwise cease to conduct business in the ordinary
course; engage in any business, or permit any of its Subsidiaries to engage in any business, other than as reasonably related or incidental to the businesses currently engaged in by Borrower; change its fiscal year end; convert to another form of
incorporation or unincorporated business or entity; have a Change in Control; Divide. 
 7.3 Mergers or Acquisitions. Merge or
consolidate, or pennit any of its Subsidiaries to merge or consolidate, with or into any other business organization (other than mergers or consolidations of a Subsidiary into another Subsidiary or into Borrower), or acquire, or pennit any of its
Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person except where (a) each of the following conditions is applicable: (i) the consideration paid in connection with such transactions
(including assumption of liabilities) does not in the aggregate exceed $500,000 during any fiscal year, (ii) no Event of Default has occurred, is continuing or would exist after giving effect to such transactions, (iii) such transactions
do not result in a Change in Control, and (iv) Borrower is the surviving entity; or (b) the Obligations (other than inchoate indemnity obligations) are repaid in full concurrently with the closing of any merger or consolidation of Borrower
which does not meet the conditions set forth in clause (a) above; provided however, that Borrower shall not, without Bank’s prior written consent, enter into any binding contractual arrangement with any Person to attempt to facilitate a
merger or acquisition of Borrower; provided however, Borrower may enter into any 

  
 15 

 
such arrangement without Bank’s prior written consent so long as (i) no Event of Default exists when such arrangement is entered into by Borrower, (ii) such arrangement does not
give such Person the right to claim any fee, payment or damages from any parties, other than from Borrower or Borrower’s investors, in connection with a sale of Borrower’s stock or assets pursuant to or resulting from an assignment for the
benefit of creditors, an asset turnover to Borrower’s creditors (including, without limitation, Bank), foreclosure, bankruptcy or similar liquidation, and (iii) Borrower notifies Bank in advance of entering into such an arrangement
(provided, the failure to give such notification shall not be deemed a material breach of this Agreement). 
 7.4 Indebtedness.
Create, incur, assume, guarantee or be or remain liable with respect to any Indebtedness, or permit any Subsidiary so to do, other than Permitted Indebtedness, or prepay any Indebtedness or take any actions which impose on Borrower an obligation
to prepay any Indebtedness, except Indebtedness to Bank. 
 7.5 Encumbrances. Create, incur, assume or allow any Lien with
respect to its property, or assign or otherwise convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries so to do, except for Pennitted Liens, or covenant to any other Person (other than (i) the
licensors of in-licensed property with respect to such property, or (ii) the lessors of specific equipment or lenders financing specific equipment with respect to such leased or financed equipment) that
Borrower in the future will refrain from creating, incurring, assuming or allowing any Lien with respect to any of Borrower’s property. 

7.6 Distributions. Pay any dividends or make any other distribution or payment on account of or in redemption, retirement or
purchase of any capital stock, except that Borrower may (i) repurchase the stock of fonner employees, consultants or directors pursuant to stock repurchase agreements as long as an Event of Default does not exist prior to such repurchase or
would not exist after giving effect to such repurchase, and (ii) repurchase the stock of former employees, consultants or directors pursuant to stock repurchase agreements by the cancellation of indebtedness owed by such former employees,
consultants or directors to Borrower regardless of whether an Event of Default exists. 
 7.7 Investments. Directly or
indirectly acquire or own, or make any Investment in or to any Person, or permit any of its Subsidiaries so to do, other than Pennitted Investments, or maintain or invest any of its Investment Property (as defined in the Code) with a Person other
than Bank or Bank’s Affiliates or permit any Subsidiary to do so unless such Person has entered into a control agreement with Bank, in form and substance satisfactory to Bank, or suffer or pennit any Subsidiary to be a party to, or be bound by,
an agreement that restricts such Subsidiary from paying dividends or otherwise distributing property to Borrower. 
 7.8
Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction with any Affiliate of Borrower except for (a) transactions that are in the ordinary course of Borrower’s business, upon fair
and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a non-affiliated Person, (b) Investments permitted under sub-clauses (e) or (f) of the definition of Permitted Investments, and (c) bona fide equity and Subordinated Debt financings from Borrower’s investors or their Affiliates. 

  
 16 

 7.9 Subordinated Debt. Make any payment in respect of any Subordinated Debt,
or pennit any of its Subsidiaries to make any such payment, except in compliance with the terms of such Subordinated Debt, or amend any provision affecting Bank’s rights contained in any documentation relating to the Subordinated Debt without
Bank’s prior written consent. 
 7.10 Inventory and Equipment. Store the Inventory or the Equipment of a book value in
excess of $500,000 with a bailee, warehouseman, collocation facility or similar third party unless the third party has been notified of Bank’s security interest and Bank (a) has received an aclmowledgment from the third party that it is
holding or will hold the Inventory or Equipment for Bank’s benefit or (b) is in possession of the warehouse receipt, where negotiable, covering such Inventory or Equipment. Except for Inventory sold in the ordinary course of business,
movable items of personal property having an aggregate book value not in excess of $500,000, and wom-out, surplus or obsolete Equipment, and except for such other locations as Bank may approve in writing,
Borrower shall keep the Inventory and Equipment only at the location set forth in Article 10 and such other locations of which Borrower gives Bank prior written notice and as to which Bank is able to take such actions as may be necessary to perfect
its security interest or to obtain a bailee’s acknowledgment of Banlc’s rights in the Collateral. 
 7.11 No Investment
Company; Margin Regulation. Become or be controlled by an “investment company,” within the meaning of the Investment Company Act of 1940, or become principally engaged in, or undertake as one of its important activities, the business
of extending credit for the purpose of purchasing or carrying margin stock, or use the proceeds of any Credit Extension for such purpose. 
  

	 	8.	 EVENTS OF DEFAULT. 

Any one or more of the following events shall constitute an Event of Default by Borrower under this Agreement: 

8.1 Payment Default. If Borrower fails to pay any of the Obligations when due; 

8.2 Covenant Default. 

(a) If Borrower fails to perform any obligation under Sections 6.2 (financial reporting), 6.4 (taxes), 6.5 (insurance), 6.6 (primary
depository) or 6.7 (financial covenants), or violates any of the covenants contained in Article 7 of this Agreement; or 
 (b) If
Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any
default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10 days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the
default cannot by its nature be 

  
 17 

 
cured within the 10 day period or cannot after diligent attempts by Borrower be cured within such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower
shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no
Credit Extensions will be made. 
 8.3 Material Adverse Change. If there occurs any circumstance or any circumstances which
would reasonably be expected to have a Material Adverse Effect; 
 8.4 Attachment. If any material portion of Borrower’s
assets is attached, seized, subjected to a writ or distress warrant, or is levied upon, or comes into the possession of any trustee, receiver or Person acting in a similar capacity and such attachment, seizure, writ or distress warrant or levy has
not been removed, discharged or rescinded within 10 days, or if Borrower is enjoined, restrained, or in any way prevented by court order from continuing to conduct all or any material part of its business affairs, or if a judgment or other claim
becomes a lien or encumbrance upon any material portion of Borrower’s assets, or if a notice of lien, levy, or assessment is filed of record with respect to any material portion of Borrower’s assets by the United States Government, or any
department, agency, or instrumentality thereof, or by any state, county, municipal, or governmental agency, and the same is not paid within 10 days after Borrower receives notice thereof, provided that none of the foregoing shall constitute an Event
of Default where such action or event is stayed or an adequate bond has been posted pending a good faith contest by Borrower (provided that no Credit Extensions will be made during such cure period); 

8.5 Insolvency. If Borrower becomes insolvent, or if an Insolvency Proceeding is commenced by Borrower, or if an Insolvency
Proceeding is c01mnenced against Borrower and is not dismissed or stayed within 30 days (provided that no Credit Extensions will be made prior to the dismissal of such Insolvency Proceeding); 

8.6 Other Agreements. If there is a default or other failure to perform in any agreement to which Borrower is a party with a
third party or parties (a) resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of $500,000, (b) in connection with any lease of real property
(after giving effect to any grace or cure period), or (c) that would reasonably be expected to have a Material Adverse Effect; 

8.7 Judgments. If a final, uninsured judgment or judgments for the payment of money in an amount, individually or in the
aggregate, of at least $500,000 shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period of 10 days (provided that no Credit Extensions will be made prior to the satisfaction or stay of the judgment); or 

8.8 Misrepresentations. If any material misrepresentation or material misstatement exists now or hereafter in any warranty or
representation set forth herein or in any certificate delivered to Bank by any Responsible Officer pursuant to this Agreement or to induce Bank to enter into this Agreement or any other Loan Document. 

  
 18 

	 	9.	 BANK’S RIGHTS AND REMEDIES. 

9.1 Rights and Remedies. Upon the occurrence and during the continuance of an Event of Default, Bank may, at its election,
without notice of its election and without demand, do any one or more of the following, all of which are authorized by Borrower: 

(a) Declare all Obligations, whether evidenced by this Agreement, by any of the other Loan Documents, or otherwise, immediately due and
payable (provided that upon the occurrence of an Event of Default described in Section 8.5 (insolvency), all Obligations shall become immediately due and payable without any action by Bank); 

(b) Demand that Borrower (i) deposit cash with Bank in an amount equal to the amount of any Letters of Credit remaining undrawn,
as collateral security for the repayment of any future drawings under such Letters of Credit, and (ii) pay in advance all Letter of Credit fees scheduled to be paid or payable over the remaining term of the Letters of Credit, and Borrower shall
promptly deposit and pay such amounts; 
 (c) Cease advancing money or extending credit to or for the benefit of Borrower under this
Agreement or under any other agreement between Borrower and Bank; 
 (d) Settle or adjust disputes and claims directly with account
debtors for amounts, upon terms and in whatever order that Bank reasonably considers advisable; 
 (e) Make such payments and do such
acts as Bank considers necessary or reasonable to protect its security interest in the Collateral. Borrower agrees to assemble the Collateral if Bank so requires, and to make the Collateral available to Bank as Bank may designate. Borrower
authorizes Bank to enter the premises where the Collateral is located, to take and maintain possession of the Collateral, or any part of it, and to pay, purchase, contest, or compromise any encumbrance, charge, or lien which in Bank’s
detennination appears to be prior or superior to its security interest and to pay all expenses incurred in connection therewith. With respect to any of Borrower’s owned premises, Borrower hereby grants Bank a license to enter into possession of
such premises and to occupy the same, without charge, in order to exercise any of Bank’s rights or remedies provided herein, at law, in equity, or otherwise; 

(f) Set off and apply to the Obligations any and all (i) balances and deposits of Borrower held by Bank, and
(ii) indebtedness at any time owing to or for the credit or the account of Borrower held by Bank; 
 (g) Ship, reclaim, recover,
store, finish, maintain, repair, prepare for sale, advertise for sale, and sell (in the manner provided for herein) the Collateral. Bank is hereby granted a license or other right, solely pursuant to the provisions of this Section 9.1, to use,
without charge, Borrower’s labels, Patents, Copyrights, rights of use of any name, trade secrets, trade names, Trademarks, service marks, and advertising matter, or any property of a similar nature, as it pertains to the Collateral, in
completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise of its rights under this Section 9.1, Borrower’s rights under all licenses and all franchise agreements shall inure to
Bank’s benefit; 

  
 19 

 (h) Sell the Collateral at either a public or private sale, or both, by way of one
or more contracts or transactions, for cash or on terms, in such manner and at such places (including Borrower’s premises) as Bank determines is commercially reasonable, and apply any proceeds to the Obligations in whatever manner or order Bank
deems appropriate. Bank may sell the Collateral without giving any warranties as to the Collateral. Bank may specifically disclaim any warranties of title or the like. This procedure will not be considered adversely to affect the commercial
reasonableness of any sale of the Collateral. If Bank sells any of the Collateral upon credit, Borrower will be credited only with payments actually made by the purchaser, received by Bank, and applied to the indebtedness of the purchaser. If the
purchaser fails to pay for the Collateral, Bank may resell the Collateral and Borrower shall be credited with the proceeds of the sale; 

(i) Credit bid and purchase at any public sale; 

(j) Apply for the appointment of a receiver, trustee, liquidator or conservator of the Collateral, without notice and without regard to
the adequacy of the security for the Obligations and without regard to the solvency of Borrower, any guarantor or any other Person liable for any of the Obligations; and 

(k) Any deficiency that exists after disposition of the Collateral as provided above will be paid immediately by Borrower. 

Bank may comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and compliance will
not be considered adversely to affect the commercial reasonableness of any sale of the Collateral. 
 9.2 Power of Attorney. Effective
only upon the occurrence and during the continuance of an Event of Default, Borrower hereby irrevocably appoints Bank (and any of Bank’s designated officers, or employees) as Borrower’s true and lawful attorney to: (a) send requests
for verification of Accounts or notify account debtors of Banlc’s security interest in the Accounts; (b) endorse Borrower’s name on any checks or other forms of payment or security that may come into Bank’s possession;
(c) sign Borrower’s name on any invoice or bill of lading relating to any Account, drafts against account debtors, schedules and assigmnents of Accounts, verifications of Accounts, and notices to account debtors; (d) dispose of any
Collateral; (e) make, settle, and adjust all claims under and decisions with respect to Borrower’s policies of insurance; (f) settle and adjust disputes and claims respecting the accounts directly with account debtors, for amounts and upon
terms which Banlc detennines to be reasonable; and (g) file, in its sole discretion, one or more financing or continuation statements and amendments thereto, relative to any of the Collateral; provided Banlc may exercise such power of attorney
to sign the name of Borrower on any of the documents described in clause (g) above, regardless of whether an Event of Default has occurred. The appointment of Banlc as Borrower’s attorney in fact, and each and every one of Bank’s
rights and powers, being coupled with an interest, is irrevocable until all of the Obligations (other than inchoate indemnity obligations) have been fully repaid and perfonned and Bank’s obligation to provide advances hereunder is terminated.

  
 20 

 9.3 Accounts Collection. At any time after the occurrence and during the continuation
of an Event of Default, Bank may notify any Person owing funds to Borrower of Bank’s security interest in such funds and verify the amount of such Account. At any time after the occurrence and during the continuation of an Event of Default,
Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as Bank’s trustee, and immediately deliver such payments to Bank in their original fonn as received from the account debtor, with proper endorsements
for deposit. 
 9.4 Bank Expenses. If Borrower fails to pay any amounts or furnish any required proof of payment due to third Persons
or entities, as required under the tenns of this Agreement, then Bank may do any or all of the following after reasonable notice to Borrower: (a) make payment of the same or any part thereof; and/or (b) set up such reserves under the Formula
and Non-Formula Revolving Line as Bank deems necessary to protect Bank from the exposure created by such failure; or (c) obtain and maintain insurance policies of the type discussed in Section 6.5 of
this Agreement, and take any action with respect to such policies as Bank deems prudent. Any amounts so paid or deposited by Bank shall constitute Bank Expenses, shall be immediately due and payable, and shall bear interest at the then applicable
rate hereinabove provided, and shall be secured by the Collateral. Any payments made by Bank shall not constitute an agreement by Bank to make similar payments in the future or a waiver by Bank of any Event of Default under this Agreement. 

9.5 Bank’s Liability for Collateral. Bank has no obligation to clean up or otherwise prepare the Collateral for sale. All risk
ofloss, damage or destruction of the Collateral shall be borne by Borrower. 
 9.6 No Obligation to Pursue Others. Bank has no
obligation to attempt to satisfy the Obligations by collecting them from any other Person liable for them and Bank may release, modify or waive any collateral provided by any other Person to secure any of the Obligations, all without affecting
Bank’s rights against Borrower. Borrower waives any right it may have to require Bank to pursue any other Person for any of the Obligations. 

9.7 Remedies Cumulative. Bank’s rights and remedies under this Agreement, the Loan Documents, and all other agreements shall be
cumulative. Bank shall have all other rights and remedies not inconsistent herewith as provided under the Code, by law, or in equity. No exercise by Bank of one right or remedy shall be deemed an election, and no waiver by Bank of any Event of
Default on Borrower’s part shall be deemed a continuing waiver. No delay by Bank shall constitute a waiver, election, or acquiescence by it. No waiver by Bank shall be effective unless made in a written document signed on behalf of Bank and
then shall be effective only in the specific instance and for the specific purpose for which it was given. Borrower expressly agrees that this Section 9.7 may not be waived or modified by Bank by course of performance, conduct, estoppel or
otherwise. 

  
 21 

 9.8 Demand; Protest. Except as otherwise provided in this Agreement, Borrower waives
demand, protest, notice of protest, notice of default or dishonor, notice of payment and nonpayment and any other notices relating to the Obligations. 
  

	 	10.	 NOTICES. 

Unless otherwise provided in this Agreement, all notices or demands by any party relating to this Agreement or any other agreement entered into
in connection herewith shall be in writing and (except for financial statements and other reporting required pursuant to Section 6.2 of this Agreement, which shall be sent as directed in the quarterly or monthly reporting forms provided by
Bank) shall be personally delivered or sent by a recognized overnight delivery service, certified mail, postage prepaid, return receipt requested, or by electronic mail to Borrower or to Banlc, as the case may be, at its address set forth below:

  

			
	If to Borrower:	  	Olo, Inc.
		  	One World Trade Center
		  	285 Fulton Street, 82nd Floor
		  	New York, NY 10007
		  	Attn: Peter Benevides
		  	Email: peter@olo.com
		  	            legal@olo.com
		
	Ifto Banlc:	  	 Pacific WesternBanlc
 406 Blackwell Street,
Suite 240

		  	Durham, North Carolina 27701
		  	Attn: Loan Operations Manager
		  	Email: loannotices@pacwest.com
		
	with a copy to:	  	 Pacific Western Banlc
 475 Fifth Avenue, 18th Floor

		  	New York, NY 10017
		  	Attn: James Londono
		  	Email: jlondono@pacwest.com

 The parties hereto may change the address at which they are to receive notices hereunder, by notice in
writing in the foregoing manner given to the other. 
  

	 	11.	 CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER. 

This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of North Carolina, without regard to principles of
conflicts oflaw. Jurisdiction shall lie in the State of North Carolina. All disputes, controversies, claims, actions and similar proceedings arising with respect to Borrower’s account or any related agreement or transaction shall be brought in
the General Court of Justice of North Carolina sitting in Durham County, North Carolina or the United States District Court for the Middle District of North Carolina, except as provided below with respect to arbitration of such matters. BANK AND
BORROWER EACH ACKNOWLEDGE THAT THE RIGHT TO TRIAL BY illRY IS A CONSTITUTIONAL 

  
 22 

 
ONE, BUT THAT IT MAY BE WAIVED. EACH OF THEM, AFTER CONSULTING OR HAVING HAD THE OPPORTUNITY TO CONSULT, WITH COUNSEL OF THEIR CHOICE, KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT
ANY OF THEM MAY HAVE TO A TRIAL BY mRY IN ANY LITIGATION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY RELATED INSTRUMENT OR LOAN DOCUMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY COURSE OF CONDUCT, DEALING,
STATEMENTS (WHETHER ORAL OR WRITTEN), OR ACTION OF ANY OF THEM. THESE PROVISIONS SHALL NOT BE DEEMED TO HAVE BEEN MODIFIED IN ANY RESPECT OR RELINQUISHED BY BANK OR BORROWER, EXCEPT BY A WRITTEN INSTRUMENT EXECUTED BY EACH OF THEM. If the jury
waiver set forth in this Article 11 is not enforceable, then any dispute, controversy, claim, action or similar proceeding arising out of or relating to this Agreement, the Loan Documents or any of the transactions contemplated therein shall be
settled by final and binding arbitration held in Durham County, North Carolina in accordance with the then current Commercial Arbitration Rules of the American Arbitration Association by one arbitrator appointed in accordance with those rules. The
arbitrator shall apply North Carolina law to the resolution of any dispute, without reference to rules of conflicts of law or rules of statutory arbitration. Judgment upon any award resulting from arbitration may be entered into and enforced by any
state or federal court having jurisdiction thereof Notwithstanding the foregoing, the parties may apply to any court of competent jurisdiction for preliminary or interim equitable relief, or to compel arbitration in accordance with this Article. The
costs and expenses of the arbitration, including without limitation, the arbitrator’s fees and expert witness fees, and reasonable attorneys’ fees, incurred by the parties to the arbitration may be awarded to the prevailing party, in the
discretion of the arbitrator, or may be apportioned between the parties in any manner deemed appropriate by the arbitrator. Unless and until the arbitrator decides that one party is to pay for all (or a share) of such costs and expenses, both
parties shall share equally in the payment of the arbitrator’s fees as and when billed by the arbitrator. 
  

	 	12.	 GENERAL PROVISIONS. 

12.1 Successors and Assigns. This Agreement shall bind and inure to the benefit of the respective successors and permitted
assigns of each of the parties and shall bind all Persons who become bound as a debtor to this Agreement; provided, however, that neither this Agreement nor any rights hereunder may be assigned by Borrower without Banlc’s prior written consent,
which consent may be granted or withheld in Banlc’s sole discretion. Bank shall have the right without the consent of or notice to Borrower to sell, assign, transfer, negotiate, or grant participation in all or any part of, or any interest in,
Banlc’s obligations, rights and benefits hereunder. 
 12.2 Indemnification. Borrower shall defend, indemnify and hold
hannless Bank and its officers, employees, and agents against: (a) all obligations, demands, claims, and liabilities claimed or asserted by any other party in connection with the transactions contemplated by this Agreement (collectively,
“Claims”); and (b) all losses or Banlc Expenses in any way suffered, incurred, or paid by Banlc, its officers, employees and agents as a result of or in any way arising out of, following, or consequential to transactions between Banlc
and Borrower whether under this Agreement, or otherwise (including without limitation reasonable attorneys’ fees and expenses), except as to (a) and (b) for Claims, losses or Bank Expenses caused by Bank’s gross negligence or willful
misconduct. 

  
 23 

 12.3 Time of Essence. Time is of the essence for the performance of all
obligations set forth in this Agreement. 
 12.4 Severability of Provisions. Each provision of this Agreement shall be
severable from every other provision of this Agreement for the purpose of determining the legal enforceability of any specific provision. 

12.5 Amendments in Writing, Integration. All amendments to or terminations of this Agreement or the other Loan Documents must be
in writing. All prior agreements, understandings, representations, warranties, and negotiations between the parties hereto with respect to the subject matter of this Agreement and the other Loan Documents, if any, are merged into this Agreement and
the Loan Documents. 
 12.6 Counterparts. This Agreement may be executed in any number of counterparts and by different parties
on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement. Executed copies of the signature pages of this Agreement
sent by facsimile or transmitted electronically in Portable Document Format (“PDF”), or any similar format, shall be treated as originals, fully binding and with full legal force and effect, and the parties waive any rights they may have
to object to such treatment. 
 12.7 Survival. All covenants, representations and warranties made in this Agreement shall
continue in full force and effect so long as any Obligations (other than inchoate indemnity obligations) remain outstanding or Bank has any obligation to make any Credit Extension to Borrower. The obligations of Borrower to indemnify Bank with
respect to the expenses, damages, losses, costs and liabilities described in Section 12.2 shall survive until all applicable statute of limitations periods with respect to actions that may be brought against Bank have rnn. 

12.8 Confidentiality. In handling any confidential information, Bank and Borrower and all employees and agents of such party
shall exercise the same degree of care that such party exercises with respect to its own proprietary infonnation of the same types to maintain the confidentiality of any non-public infonnation thereby received
or received pursuant to this Agreement except that disclosure of such information may be made (i) in the case of Bank, to the subsidiaries or Affiliates of Bank or Borrower in connection with their present or prospective business relations with
Borrower, (ii) in the case of Bank, to prospective transferees or purchasers of any interest in the Credit Extensions, provided that they have entered into a comparable confidentiality agreement in favor of Borrower and have delivered a copy to
Borrower, (iii) as required by law, regulation, rnle or order, subpoena, judicial order or similar order, (iv) in the case of Bank, as may be required in connection with the examination, audit or similar investigation of Bank and
(v) as Bank may determine in connection with the enforcement of any remedies hereunder. Confidential information hereunder shall not include information that either: (a) is in the public domain or in the knowledge or possession of the
receiving party when disclosed to such party, or becomes part of the public domain after disclosure to such receiving party through no fault of such receiving party; or (b) is disclosed to such receiving party by a third party, provided such
receiving party does not have actual knowledge that such third party is prohibited from disclosing such information. 

  
 24 

 12.9 Termination of Warrant. That certain Second Warrant to Purchase Stock
issued as of December 20, 2017 by Borrower to Bank is hereby terminated and is of no further force and effect. 
 12.10 Effect
of Amendment and Restatement. This Agreement is intended to and does completely amend and restate, without novation, the Original Agreement. All security interests granted by Borrower under the Original Agreement are hereby confirmed and
ratified and shall continue to secure all Obligations under this Agreement. 
 ******** 

  
 25 

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

			
	OLO, INC.
		
	By:	 	 /s/ Matthew S.Tuker

	Name: Matthew S.Tuker
	Title: President & Chief Operating Officer
	
	PACIFIC WESTERN BANK
		
	By:	 	 /s/ James Londono

	Name: James Londono
	Title: Senior VP

 EXHIBIT A 

DEFINITIONS 
 “Accounts” means all presently existing
and hereafter arising accounts, contract rights, payment intangibles and all other forms of obligations owing to Borrower arising out of the sale or lease of goods (including, without limitation, the licensing of software and other technology) or
the rendering of services by Borrower and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by Borrower and Borrower’s Books relating to any of the foregoing. 

“Acquisition” means (a) any sale, license, or other disposition of all or substantially all of the assets (including intellectual property) of
Borrower, or (b) any reorganization, consolidation, merger or sale of the voting securities of Borrower or any other transaction where the holders of Borrower’s securities before the transaction beneficially own less than 50% of the
outstanding voting securities of the surviving entity after the transaction. 
 “Advance” or “Advances” means a cash advance or cash
advances under the Formula Revolving Line and/or the Non-Formula Revolving Line. 
 “Affiliate” means,
with respect to any Person, any Person that owns or controls directly or indirectly such Person, any Person that controls or is controlled by or is under common control with such Person, and each of such Person’s senior executive officers,
directors, and general partners. 
 “Aggregate Borrowing Limit” means $25,000,000; provided that, upon the occurrence of the Increase Milestone
and Borrower’s election to exercise the Increase Option, the tenn Aggregate Borrowing Limit” shall instead mean $35,000,000. 
 “Ancillary
Services” means any products or services requested by Borrower and approved by Bank under the Formula Revolving Line, including and without limitation, corporate credit card services, Automated Clearing House transactions, FX Contracts, Letters
of Credit, or other treasury management services. 
 “Ancillary Services Sublimit” means a sublimit for Ancillary Services under the Formula
Revolving Line not to exceed $5,000,000. 
 “Annualized Chum” means the average monthly Chum for the preceding six months, multiplied by 12. 

“Authorized Officer” means someone designated as such in the corporate resolution provided by Borrower to Bank in which this Agreement and the
transactions contemplated hereunder are authorized by Borrower’s board of directors. If Borrower provides subsequent corporate resolutions to Bank after the Closing Date, the individual(s) designated as “Authorized Officer(s)” in the
most-recently provided resolution shall be the only “Authorized Officers” for purposes of this Agreement. 
 “Banlc Expenses” means all
reasonable costs or expenses (including reasonable attorneys’ fees and expenses) incurred in connection with the preparation, negotiation, administration, and enforcement of the Loan Documents; reasonable Collateral audit fees; and Banlc’s
reasonable attorneys’ fees and expenses (whether generated in-house or by outside counsel) incurred in amending, enforcing or defending the Loan Documents (including fees and expenses of appeal), incurred
before, during and after an Insolvency Proceeding, whether or not suit is brought. 

  
 1 

 “Borrower’s Books” means all of Borrower’s books and records including: ledgers; records
concerning Borrower’s assets or liabilities, the Collateral, business operations or :financial condition; and all computer programs, or tape files, and the equipment, containing such information. 

“Borrowing Base” means an amount equal to (a) five (5) (the “Advance Rate”), multiplied by (b) Borrower’s Recurring Revenue
for the previous month, as determined by Bank with reference to the most recent Borrowing Base Certificate delivered by Borrower pursuant to Section 6.2(a) of this Agreement; provided that if Borrower’s most recently calculated Annualized
Churn exceeds 12.5%, then Bank may change the Advance Rate in its discretion. 
 “Borrowing Base Certificate” means a borrowing base certificate,
in substantially the fonn of Exhibit D attached hereto, executed by a Responsible Officer of Borrower. 
 “Business Day” means any day that is not
a Saturday, Sunday, or other day on which banks in the State of North Carolina are authorized or required to close. 
 “Cash” means unrestricted
cash and cash equivalents. 
 “Change in Control” means a transaction other than a bona fide equity :financing or series of :financings on tenns
and from investors reasonably acceptable to Bank in which any “person” or “group” (within the meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) becomes the “beneficial owner” (as defined
in Rule l 3d-3 under the Securities Exchange Act of 1934), directly or indirectly, of a sufficient number of shares of all classes of stock then outstanding of Borrower ordinarily entitled to vote in the
election of directors, empowering such “person” or “group” to elect a majority of the Board of Directors of Borrower, who did not have such power before such transaction. 

“Churn” means, with respect to contracts that generate fees included in Recurring Revenue, 

(a) the monthly dollar value of Recurring Revenue attributable to such contracts that were cancelled, terminated, or expired and not renewed in
a particular month; divided by 
 (b) the monthly dollar value of Recurring Revenue attributable to such contracts that were in effect at the
beginning of that month; 
 expressed as a percentage. 

“Closing Date” means the date of this Agreement. 

“Code” means the North Carolina Uniform Commercial Code as amended or supplemented from time to time. 

“Collateral” means the property described on Exhibit B attached hereto and all Negotiable Collateral to the extent not described on Exhibit B,
except to the extent any such property (a) is non-assignable by its terms without the consent of the licensor thereof or another party (but only to the extent such prohibition on transfer is enforceable
under applicable law, including, without limitation, §25-9-406 and §25-9-408 of
the Code), (b) is property for which the granting of a security interest therein is contrary to applicable law, provided that, upon 

  
 2 

 
the cessation of any such restriction or prohibition, such property shall automatically become part of the Collateral, (c) constitutes the capital stock of a controlled foreign corporation
(as defined in the IRC), in excess of 65% of the voting power of all classes of capital stock of such controlled foreign corporations entitled to vote, if the grant of a security interest in such capital stock pursuant to this Agreement would result
in material adverse “deemed dividend” tax consequences to Borrower due to the application of IRC §956, or (d) property (including any attachments, accessions or replacements) that is subject to a Lien that is permitted pursuant
to clause (c) of the definition of Permitted Liens, if the grant of a security interest with respect to such property pursuant to this Agreement would be prohibited by the agreement creating such Permitted Lien or would otherwise constitute a
default thereunder, provided, that such property will be deemed “Collateral” hereunder upon the termination and release of such Permitted Lien. 

“Collateral State” means the state or states where the Collateral is located, which is New York. 

“Compliance Certificate” means a compliance certificate, in substantially the form of Exhibit E attached hereto, executed by a Responsible Officer
of Borrower. 
 “Contingent Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person
with respect to (a) any indebtedness, lease, dividend, letter of credit or other obligation of another, including, without limitation, any such obligation directly or indirectly guaranteed, endorsed,
co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (b) any obligations with respect to undrawn letters of credit,
corporate credit cards or merchant services issued for the account of that Person; and (c) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or
other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for
collection or deposit in the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or detennined amount of the primary obligation in respect of which such Contingent Obligation is
made or, if not stated or detenninable, the maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the
obligations under the guarantee or other support arrangement. 
 “Copyrights” means any and all copyright rights, copyright applications,
copyright registrations and like protections in each work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret, now or hereafter existing, created, acquired or held.

 “Credit Extension” means each Fonnula Advance, Non Formula Advance or any other extension of credit, by Bank to or for the benefit of Borrower
hereunder. 
 “Divide” means, with respect to any Person that is an entity, the dividing of such Person into two or more separate Persons, with
the dividing Person either continuing or tenninating its existence as part of such division, including as contemplated under Section 18-217 of the Delaware Limited Liability Company Act for limited
liability companies fanned under Delaware law, or any analogous action taken pursuant to any other statute with respect to any corporation, limited liability company, partnership or other entity. 

  
 3 

 “EBITDA” means, with respect to any fiscal period, an amount equal to earnings before the sum of
(a) tax, plus (b) depreciation and amortization, plus (c) interest and non-Cash expenses, plus (d) any non-Cash stock compensation expenses. 

“Environmental Laws” means all laws, rules, regulations, orders and the like issued by any federal, state, local, foreign or other governmental or
quasi-governmental authority or any agency pertaining to the environment or to any hazardous materials or wastes, toxic substances, flammable, explosive or radioactive materials, asbestos or other similar materials. 

“Equipment” means all present and future machinery, equipment, tenant improvements, furniture, :fixtures, vehicles, tools, parts and attachments in
which Borrower has any interest. 
 “BRISA” means the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder.

 “Event of Default” has the meaning assigned in Article 8. 

“Foreign Exchange Reserve Percentage” means a percentage of reserves for FX Contracts as determined by Bank, in its sole discretion from time to
time. 
 “Formula Advance” or “Formula Advances” means a cash advance or cash advances under the Formula Revolving Line. 

“Formula Revolving Line” means one or more Credit Extensions of up to $25,000,000 in the aggregate at any time outstanding (inclusive of any
Ancillary Services reducing the Fonnula Revolving Line under clauses (A)-(E) of subsection 2.l(b)(iii) hereof); provided that, upon the occurrence of the Increase Milestone and Borrower’s election to exercise the Increase Option, the term
“Formula Revolving Line” shall instead mean one or more Credit Extensions of up to $35,000,000 in the aggregate at any time outstanding (inclusive of any Ancillary Services reducing the Formula Revolving Line under clauses (A)-(E) of
subsection 2.l(b)(iii) hereof). 
 “Formula Revolving Maturity Date” means February 11, 2022. 

“FX Contracts” means contracts between Borrower and Bank for foreign exchange transactions. 

“GAAP” means generally accepted accounting principles, consistently applied, as in effect from time to time in the United States. 

“Increase Milestone” means Borrower’s achievement of Revenue of at least $75,000,000 in fiscal year 2020, as detennined by Bank with reference
to the :financial information provided by Borrower under Section 6.2(i) hereof. 
 “Increase Option” means, subject to the occurrence of the
Increase Milestone, Borrower has delivered written notification to Bank that Borrower is exercising its option to increase each of the Aggregate Borrowing Limit and the Formula Revolving Line to $35,000,000. 

  
 4 

 “Insolvency Proceeding” means any proceeding commenced by or against any Person or entity under
any provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, including assigmnents for the benefit of creditors, formal or informal moratoria, compositions, extension generally with its creditors,
or proceedings seeking reorganization, arrangement, or other relief. 
 “Intellectual Property” means all of a Borrower’s right, title, and
interest in and to the following: 
 (a) Copyrights, Trademarks and Patents; 

(b) Any and all trade secrets, and any and all intellectual property rights in computer software and computer software products now or
hereafter existing, created, acquired or held; 
 (c) Any and all design rights which may be available to a Borrower now or hereafter
existing, created, acquired or held; 
 (d) Any and all claims for damages by way of past, present and future infringement of any of
the rights included above, with the right, but not the obligation, to sue for and collect such damages for said use or infringement of the intellectual property rights identified above; 

(e) All licenses or other rights to use any of the Copyrights, Patents or Trademarks, and all license fees and royalties arising from
such use to the extent permitted by such license or rights; and 
 (f) All amendments, renewals and extensions of any of the
Copyrights, Trademarks or Patents. “Inventory’’ means all present and future inventory in which Borrower has any interest. 

“Investment” means any beneficial ownership of (including stock, partnership or limited liability company interest or other securities) any Person,
or any loan, advance or capital contribution to any Person. 
 “Investment Agreement” means, collectively, Borrower’s stock purchase and
other agreement(s) pursuant to which Borrower most recently issued its preferred stock. 
 “IRC” means the Internal Revenue Code of 1986, as
amended, and the regulations thereunder. 
 “Letter of Credit” means a commercial or standby letter of credit or similar undertaking issued by
Bank at Borrower’s request. 
 “Letter of Credit Exposure” means, as of any date of determination, the sum, without duplication, of
(a) the aggregate undrawn amount of all outstanding Letters of Credit and any obligations of Bank related to purchased participations or indemnity or reimbursement obligations with respect to Letters of Credit, plus (b) the
aggregate unreimbursed amount of all drawn Letters of Credit until such amount becomes an Advance under the tenns of this Agreement. 
 “Lien”
means any mortgage, lien, deed of trust, charge, pledge, security interest or other encumbrance. 
 “Liquidity Event” means (a) any sale,
license or other disposition of all or substantially all of the assets (including intellectual property) of Borrower, (b) any reorganization, consolidation, merger or sale of the voting securities of Borrower or any other transaction where the
holders of Borrower’s securities before the transaction beneficially own less than 50% of the outstanding voting securities of the surviving entity after the transaction, or (c) an initial public offering of Borrower’s equity
securities, in each case that occurs after June 30, 2021. 

  
 5 

 “Loan Documents” means, collectively, this Agreement, any note or notes executed by Borrower, and
any other document, instrument or agreement entered into in connection with this Agreement, all as amended or extended from time to time. 
 “Material
Adverse Effect” means a material adverse effect on: (a) the operations, business or financial condition of Borrower and its Subsidiaries taken as a whole; (b) the ability of Borrower to repay the Obligations or otherwise perform its
obligations under the Loan Documents; or (c) Borrower’s interest in, or the value, perfection or priority of Bank’s security interest in the Collateral. 

“Negotiable Collateral” means all of Borrower’s present and future letters of credit of which it is a beneficiary, drafts, instruments
(including promissory notes), securities, documents of title, and chattel paper, and Borrower’s Books relating to any of the foregoing. 
 “Non-Formula Advance” or “Non-Formula Advances” means a cash advance or cash advances under the Non-Formula
Revolving Line. 
 “Non-Formula Revolving Line” means a Credit Extension of up to $5,000,000. 

“Non-Formula Revolving Maturity Date” means February 11, 2022. 

“Obligations” means all debt, principal, interest, Bank Expenses and other amounts owed to Bank by Borrower pursuant to this Agreement or any other
agreement, whether absolute or contingent, due or to become due, now existing or hereafter arising, including any interest that accrues after the commencement of an Insolvency Proceeding and including any debt, liability, or obligation owing from
Borrower to others that Bank may have obtained by assignment or otherwise. Notwithstanding the foregoing, the “Obligations” shall not include the Warrant. 

“Patents” means all patents, patent applications and like protections including without limitation improvements, divisions, continuations, renewals,
reissues, extensions and continuations-in-part of the same. 

“Periodic Payments” means all installments or similar recurring payments that Borrower may now or hereafter become obligated to pay to Bank pursuant
to the terms and provisions of any instrument, or agreement now or hereafter in existence between Borrower and Bank. 
 “Permitted Indebtedness”
means: 
 (a) Indebtedness of Borrower m favor of Bank arising under this Agreement or any other Loan Document; 

(b) Indebtedness existing on the Closing Date and disclosed in the Schedule; 

(c) Indebtedness not to exceed $500,000 in the aggregate in any fiscal year of B01rnwer secured by a lien described in clause
(c) of the defined term “Pennitted Liens,” provided such Indebtedness does not exceed at the time it is incurred the lesser of the cost or fair market value of the property :financed with such Indebtedness; 

  
 6 

 (d) Subordinated Debt; 

(e) Indebtedness not exceeding $500,000 in the aggregate with respect to surety bonds and similar obligations incurred
in the ordinary course of business; 
 (f) Indebtedness to trade creditors incurred in the ordinary course of
business; and 
 (g) Extensions, re:financings and renewals of any items of Permitted Indebtedness, provided that the
principal amount is not increased or the terms modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be. 

“Pennitted Investment” means: 
 (a)
Investments existing on the Closing Date disclosed in the Schedule; 
 (b) (i) Marketable direct obligations issued or
unconditionally guaranteed by the United States of America or any agency or any State thereof maturing within one year from the date of acquisition thereof, (ii) commercial paper maturing no more than one year from the date of creation thereof
and currently having rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors Service, (iii) Bank’s
certificates of deposit maturing no more than one year from the date of investment therein, (iv) Bank’s money market accounts; (v) Investments in regular deposit or checking accounts held with Bank or subject to a control agreement in
favor of Bank; and (vi) Investments consistent with any investment policy adopted by the Borrower’s board of directors; 

(c) Repurchases of stock from former employees, consultants or directors of Borrower under the terms of applicable repurchase agreements
(i) in an aggregate amount not to exceed $500,000 in any fiscal year, provided that no Event of Default has occurred, is continuing or would exist after giving effect to the repurchases, or (ii) in any amount where the consideration for
the repurchase is the cancellation of indebtedness owed by such former employees, consultants or directors to Borrower regardless of whether an Event of Default exists; 

(d) Investments accepted in connection with Permitted Transfers; 

(e) Investments of Subsidiaries in or to other Subsidiaries or Borrower and Investments by Borrower in Subsidiaries not to exceed
$500,000 in the aggregate in any fiscal year; 
 (f) Investments not to exceed $500,000 outstanding in the aggregate at any time
consisting of (i) travel advances and employee relocation loans and other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of
Borrower or its Subsidiaries pursuant to employee stock purchase plan agreements approved by Borrower’s Board of Directors; 
 (g)
Investments in un:financed capital expenditures in any fiscal year, not to exceed $500,000; 

  
 7 

 (h) Investments (including debt obligations) received in connection with the
bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of Borrower’s business; 

(i) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are
not Affiliates, in the ordinary course of business, provided that this subparagraph (i) shall not apply to Investments of Borrower in any Subsidiary; 

(j) Joint ventures or strategic alliances in the ordinary course of Borrower’s business consisting of the non-exclusive licensing of technology, the development of technology or the providing of technical support, provided that any cash Investments by Borrower do not exceed $500,000 in the aggregate in any fiscal year;
and 
 (k) Investments permitted under Section 7.3. “Permitted Liens” means the following: 

(a) Any Liens existing on the Closing Date and disclosed in the Schedule (excluding Liens to be satisfied with the proceeds of the
Credit Extensions) or arising under this Agreement, the other Loan Documents, or any other agreement in favor of Bank; 
 (b) Liens
for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings and for which Borrower maintains adequate reserves; 

(c) Liens not to exceed $500,000 in the aggregate in any fiscal year of Borrower (i) upon or in any Equipment acquired or held by
Borrower or any of its Subsidiaries to secure the purchase price of such Equipment or indebtedness incurred solely for the purpose of financing the acquisition or lease of such Equipment, or (ii) existing on such Equipment at the time of its
acquisition, in each case provided that the Lien is confined solely to the property so acquired and improvements thereon, and the proceeds of such Equipment; 

(d) Liens arising from leases, subleases, licenses, or sublicenses granted to others in the ordinary course of Borrower’s business
that do not interfere in any material respect with the business of Borrower and its Subsidiaries taken as a whole; 
 (e) Deposits
under worker’s compensation, unemployment insurance, social security and other similar laws, or to secure the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure indemnity, perfonnance or
other similar bonds for the perfonnance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory obligations (other than liens arising under BRISA or environmental liens) or surety or appeal bonds, or to
secure indemnity, performance or other similar bonds; all, in the ordinary course of Borrower’s or any Subsidiary’s business; 

(f) Liens ofmaterialmen, mechanics, warehousemen, carriers, artisans or other similar liens arising in the ordinary course of
Borrower’s business or by operation of law, which are not past due or which are being contested in good faith by appropriate proceedings and for which reserves have been established to the extent required in accordance with GAAP; 

  
 8 

 (g) Easements, reservations, rights-of-way, restrictions, minor defects or irregularities in title and other similar liens affecting real property that do not interfere, individually or collectively, in any material respect with the
ordinary conduct of the business of Borrower; 
 (h) Liens incurred in connection with the extension, renewal or refinancing of the
indebtedness secured by Liens of the type described in clauses (a) through (c) above, provided that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the
indebtedness being extended, renewed or refinanced does not increase; 
 (i) Liens arising from judgments, decrees or attachments in
circumstances not constituting an Event of Default under Sections 8.4 (attachment) or 8.7 (judgments); and 
 (j) Liens securing
Subordinated Debt, provided that such Liens do not encumber assets beyond those assets comprising the Collateral. 
 “Permitted
Transfer” means the conveyance, sale, lease, transfer or disposition by Borrower or any Subsidiary of: 
 (a) Inventory in the
ordinary course of business; 
 (b) licenses and similar arrangements for the use of the property of Borrower or its Subsidiaries in
the ordinary course of business; 
 (c) worn-out, surplus or obsolete Equipment; 

(d) grants of security interests and other Liens that constitute Permitted Liens; and 

(e) other assets of Borrower or its Subsidiaries that do not in the aggregate exceed $500,000 during any fiscal year. 

“Person” means any individual, sole proprietorship, partnership, limited liability company, joint venture, trust, unincorporated organization,
association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or governmental agency. 
 “Prime
Rate” means the variable rate of interest, per annum, most recently announced by Ban1c, as its “prime rate,” whether or not such announced rate is the lowest rate available from Ban1c. 

“Recurring Revenue” means the sum of contractually-obligated monthly recurring Revenue with respect to Borrower’s “Ordering” and
“Rails” products; in all cases such Revenue being derived from contracts that arise in the ordinary course of Borrower’s business and that comply with all of Borrower’s representations and warranties to Bank set forth in
Section 5.3. 
 “Responsible Officer” means each of the Chief Executive Officer, the Chief Operating Officer, the Chief Financial Officer,
Vice President of Finance and the Controller of Borrower, as well as any other officer or employee identified as an Authorized Officer in the corporate resolution delivered by Borrower to Ban1c in connection with this Agreement. 

“Revenue” means revenue recognized in accordance with GAAP. 

  
 9 

 “Schedule” means the schedule of exceptions attached hereto and approved by Bank, if any. 

“Shares” means (a) 65% of the issued and outstanding capital stock, membership units or other securities owned or held of record by Borrower in any
Subsidiary of Borrower that constitutes the capital stock of a controlled foreign corporation (as defined in the IRC), if the grant of a security interest in such capital stock pursuant to this Agreement in excess of 65% would result in material
adverse “deemed dividend” tax consequences to Borrower due to the application of IRC §956, and (b) 100% of the issued and outstanding capital stock, membership units or other securities owned or held of record by Borrower in any other
Subsidiary of Borrower. 
 “SOS Reports” means the official reports from the Secretaries of State of each Collateral State, the state where
Borrower’s chief executive office is located, the state of Borrower’s fonnation and other applicable federal, state or local government offices identifying all current security interests filed in the Collateral and Liens of record as of
the date of such report. 
 “Subordinated Debt” means any debt incurred by Borrower that is subordinated in writing to the debt owing by Borrower
to Bank on tenns reasonably acceptable to Bank (and identified as being such by Borrower and Ban1c). 
 “Subsidiary” means any corporation,
partnership or limited liability company or joint venture in which (i) any general partnership interest or (ii) more than 50% of the stock, limited liability company interest or joint venture of which by the terms thereof having ordinary
voting power to elect the Board of Directors, managers or trustees of the entity, at the time as of which any detennination is being made, is owned by Borrower, either directly or through an Affiliate. 

“Trademarks” means any trademark and service mark rights, whether registered or not, applications to register and registrations of the same and like
protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 
  

  
 10 

					
	DEBTOR:	  	OLO, INC.	  	
			
	SECURED PARTY:	  	PACIFIC WESTERN BANK	  	

 EXHIBITB 

COLLATERAL DESCRIPTION ATTACHMENT TO LOAN AND SECURITY AGREEMENT 

All personal property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or hereafter created or
acquired, and wherever located, including, but not limited to: 
 (a) all accounts (including health-care-insurance receivables),
chattel paper (including tangible and electronic chattel paper), deposit accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), :financial assets, general intangibles (including patents,
trademarks, copyrights, goodwill, payment intangibles, domain names, and software), goods (including :fixtures), instruments (including promissory notes), inventory (including all goods held for sale or lease or to be furnished under a contract of
service, and including returns and repossessions), investment property (including securities and securities entitlements), letter of credit rights, money, and all of Debtor’s books and records with respect to any of the foregoing, and the
computers and equipment containing said books and records; 
 (b) any and all cash proceeds and/or noncash proceeds of any of the
foregoing, including, without limitation, insurance proceeds, and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the North Carolina Unifonn Commercial Code, as
amended or supplemented from time to time, including revised Article 9 of the Uniform Commercial Code-Secured Transactions. 

Notwithstanding the foregoing, the Collateral shall not include any of the intellectual property, in any medium, of any kind or nature
whatsoever, now or hereafter owned or acquired or received by Borrower, or in which Borrower now holds or hereafter acquires or receives any right or interest (collectively, the “Intellectual Property”; provided, however, that the
Collateral shall include all accounts and general intangibles that consist of rights to payment and proceeds from the sale, licensing or disposition of all or any part, or rights in, the foregoing (the “Rights to Payment”). 

Notwithstanding the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in the underlying
Intellectual Property is necessary to have a security interest in the Rights to Payment, then the Collateral shall automatically, and effective as of May 16, 2012, include the Intellectual Property to the extent and only to the extent necessary
to pennit perfection of Bank’s security interest in the Rights to Payment, and further provided, however, that Bank’s enforcement rights with respect to any security interest in the Intellectual Property shall be absolutely limited to the
Rights to Payment only, and Banl<- shall have no recourse whatsoever with respect to the underlying Intellectual Property. 

 EXHIBITC 

LOAN ADVANCE/PAYDOWN REQUEST FORM 

[Please refer to New Borrower Kit] 

EXHIBITD 
 BORROWING
BASE CERTIFICATE 
 [Please refer to New Borrower Kit] 

EXHIBITE 
 COMPLIANCE
CERTIFICATE 
 [Please refer to New Borrower Kit] 

 SCHEDULE OF EXCEPTIONS 

Permitted Indebtedness (Exhibit A)-None  

Permitted Investments (Exhibit A)- None  

Permitted Liens (Exhibit A)-None 
 Prior Names
(Section 5.5) - Mobo Systems, Inc.; OLO and GoMobo (both are registered d/b/a’s) 
 Litigation (Section 5.6) - None 

Inbound Licenses (Section 5.12) - None

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