Document:

EX-10.12

 Exhibit 10.12 

LOAN AND SECURITY AGREEMENT 

THIS LOAN AND SECURITY AGREEMENT, dated as of
June 2, 2017 (this “Agreement”), is entered into by and between ADAPTIVE INSIGHTS, INC., a Delaware corporation (“Borrower”),
SILVER LAKE WATERMAN FUND, L.P., a Delaware limited partnership, as agent (“Agent”) for the lenders identified on Schedule
1 hereto (such lenders, together with their respective successors and assigns are referred to hereinafter each individually as a “Lender” and collectively as the “Lenders”), and the Lenders. 

RECITALS 

A. Borrower has requested that Lenders extend a credit facility to Borrower in the original principal amount of Forty Million Dollars
($40,000,000), with Twenty Four Million Nine Hundred Ninety One Thousand One Hundred Forty Four Dollars ($24,991,144) available at Closing and Fifteen Million Eight Thousand Eight Hundred Fifty Six Dollars ($15,008,856) available upon satisfaction
of the conditions set forth herein, to provide (a) working capital financing for Borrower and (b) funds for other general corporate purposes of Borrower, and Lenders are willing to make loans to Borrower upon the terms and conditions set
forth in this Agreement. 
 B. Borrower has agreed to grant to Agent, for the benefit of Agent and Lenders, a security interest in the
property described in this Agreement. 
 AGREEMENT 

In consideration of the covenants, conditions and agreements set forth herein and intending to be legally bound, the parties agree as follows:

 ARTICLE 1. DEFINITIONS 
 The
following capitalized terms shall have the meanings set forth below: 
 “Acquisition” shall mean any transaction or
series of related transactions constituting (a) the acquisition of all or substantially all of the assets of a Person, or of any line of business or division of a Person, (b) the acquisition of in excess of fifty percent (50%) of the
Equity Securities of any Person, whether or not involving a merger or consolidation with such other Person, or otherwise causing any Person to become a Subsidiary, or (c) any merger or consolidation of a Person (other than a Subsidiary) with
and into Borrower or a Subsidiary in which Borrower or the Subsidiary is the surviving Person. 
 “Additional
Commitment” shall mean an amount of up to Fifteen Million Eight Thousand Eight Hundred Fifty Six Dollars ($15,008,856). 

“Affiliate” shall mean, with respect to any Person, any Person that owns or controls directly or indirectly ten
percent (10%) or more of the Equity Securities of such Person, any Person that controls or is controlled by or is under common control with such Person or any Affiliate of such Person and each of such Person’s officers, directors, members,
joint venturers or partners. When used with respect to a Lender, Affiliate shall also include any Affiliate of Agent. 

“Agreement” shall mean this Loan and Security Agreement, as amended, restated or otherwise modified from time to time.

 “Agreement to Make Additional Loans” shall have the meaning set forth in
Section 4.01(c) of this Agreement. 

  
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 “Applicable Premium” shall mean (i) 4% of principal prepaid if the
prepayment occurs on or prior to the first anniversary of the Funding Date of the applicable Loan; (ii) 3% of principal prepaid if the prepayment occurs after the first anniversary and on or prior to the second anniversary of the Funding Date of the
applicable Loan; (iii) 2% of principal prepaid if prepayment occurs after the second anniversary and on or prior to the third anniversary of the Funding Date of the applicable Loan or (iv) 1% of principal prepaid if prepayment occurs after the third
anniversary of the Funding Date of the applicable Loan and prior to the Maturity Date; provided that, notwithstanding the foregoing, if such prepayment occurs not more than thirty (30) days after the effective date of the initial registration
statement covering a public offering of Borrower’s securities or in connection with the consummation of an Acquisition of Borrower for total consideration of more than Six Hundred Million Dollars ($600,000,000), the applicable prepayment fee
shall be the lesser of 1.5% or the otherwise applicable percentage of the principal prepaid. 
 “Board Observer”
shall have the meaning set forth in Section 6.12 of this Agreement. 
 “Borrower’s Primary
Operating Account” shall have the meaning set forth in Section 6.04 of this Agreement. 

“Business Day” shall mean any day on which commercial banks are not authorized or required to close in San Francisco,
California. 
 “Cash Interest” shall have the meaning set forth in Section 2.02(a)(i) of
this Agreement. 
 “Closing” shall mean the date, time and place as the parties may agree for the execution of this
Agreement. “Closing Date” shall mean the date of the Closing. 
 “Code” shall mean the
Uniform Commercial Code as in effect from time to time in the state of California. “Collateral” shall mean property described on Exhibit B attached hereto. 

“Contractual Obligation” of any Person shall mean, any indenture, note, security, deed of trust, mortgage, security
agreement, lease, guaranty, instrument, contract, agreement or other form of obligation or undertaking to which such Person is a party or by which such Person or any of its property is bound. 

“Copyrights” shall mean any and all copyright rights, copyright applications, copyright registrations and like
protections in each work of 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. 

“Default” shall mean any event or circumstance not yet constituting an Event of Default but which, with the giving of
any notice or the lapse of any period of time or both, would become an Event of Default. 
 “Default Rate” shall
mean, as of any date of determination, an interest rate per annum equal to five percent (5%) in excess of the rate per annum otherwise applicable on such date. 

“Equity Securities” of any Person shall mean (i) all common stock, preferred stock, participations, shares,
partnership interests, membership interests or other equity interests in and of such Person (regardless of how designated and whether or not voting or non-voting) and (ii) all warrants, options and other
rights to acquire any of the foregoing. 
 “Event of Default” shall have the meaning set forth in Article 9
of this Agreement. 
 “Event of Loss” shall have the meaning set forth in Section 6.08(a)
of this Agreement. 

  
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 “Financial Statements” shall mean, with respect to any accounting period
for any Person, statements of operations, cash flows and, with respect to audited statements only, stockholder’s equity of such Person for such period, and a balance sheet of such Person as of the end of such period, setting forth in each case
in comparative form figures for the corresponding period in the preceding fiscal year if such period is less than a full fiscal year or, if such period is a full fiscal year, corresponding figures from the preceding fiscal year, all prepared in
reasonable detail and in accordance with generally accepted accounting principles, except, in the case of unaudited Financial Statements, for the absence of footnotes and normal year-end adjustments. Unless
otherwise indicated, each reference to Financial Statements of any Person shall be deemed to refer to Financial Statements prepared on a consolidated basis. 

“Foreign Subsidiary” shall mean any Subsidiary organized under laws other than the laws of the United States or of any
state or territory thereof. 
 “Funding Date” shall mean any date on which a Loan is made to or on account of
Borrower under this Agreement. 
 “Governmental Authority” shall mean any domestic or foreign national, state or
local government, any political subdivision thereof, any department, agency, authority or bureau of any of the foregoing, or any other entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to
government. 
 “Governmental Rule” shall mean any law, rule, regulation, ordinance, order, code interpretation,
judgment, decree, directive, guidelines, policy or similar form of decision of any Governmental Authority. 

“Guarantor” shall mean each Subsidiary of Borrower that becomes a guarantor pursuant to
Section 6.13 of this Agreement. 
 “Indebtedness” of any Person shall mean and include the
aggregate amount of, without duplication (i) all obligations of such Person for borrowed money, (ii) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such
Person to pay the deferred purchase price of property or services (other than accounts payable incurred in the ordinary course of business aged not more than one hundred eighty (180) days), (iv) all obligations under capital leases of such
Person required to be capitalized on the books of such Person in accordance with GAAP (as in effect on the date hereof), (v) all obligations or liabilities of others secured by a lien on any asset of such Person, whether or not such obligation or
liability is assumed, (vi) all guaranties of such Person of the obligations of another Person, (vii) all obligations created or arising under any conditional sale or other title retention agreement with respect to property acquired by such
Person (even if the rights and remedies of the seller or lender under such agreement upon an event of default are limited to repossession or sale of such property), and (viii) all reimbursement and other payment obligations, contingent or
otherwise, in respect of letters of credit. 
 “Initial Loan” shall have the meaning set forth in
Section 2.01 of this Agreement. 
 “Intellectual Property” shall mean: (i) all
inventions, designs, know-how, methods, processes, drawings, specifications or other data or information and all memoranda, notes and records with respect to any research and development, and all embodiments
or fixations thereof whether in tangible or intangible form, (ii) Copyrights, Trademarks, Patents and Mask Works; (iii) any and all trade secrets, and any and all intellectual property rights in computer software and computer software
products; (iv) any and all design rights; (v) 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; (vi) all licenses or other rights to use any of the Copyrights, Patents, Trademarks, Mask Works, or any other property rights described above; (vii) all
amendments, renewals and extensions of any of the Copyrights, Trademarks, Patents or Mask Works; and (viii) all proceeds and products of the foregoing. 

“Investment” shall mean (i) the purchase, acquisition or beneficial ownership of any Equity Securities, or any
obligations or other securities of, any Person, (ii) the making of any advance, loan, extension of credit or capital contribution to, or any other investment in, any Person, or (iii) any Acquisition. 

  
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 “Lien” shall mean, with respect to any property, any security interest,
mortgage, pledge, lien, claim, charge or other encumbrance in, of, or on such property or the income therefrom, including, without limitation, the interest of a vendor or lessor under a conditional sale agreement, capital lease or other title
retention agreement, or any agreement to provide any of the foregoing. 
 “Loan” shall have the meaning set forth in
Section 2.01 of this Agreement. 
 “Loan Percentage” shall mean, with respect to a Lender,
the percentage of each Loan specified opposite such Lender’s name on Schedule 1 hereto. 
 “Mask Works” shall
mean all mask works or similar rights available for the protection of semiconductor chips, now owned or hereafter acquired. 

“Material Adverse Effect” shall mean a material adverse effect on (i) the business, assets, operations, prospects
or financial or other condition of Borrower and its Subsidiaries, taken as a whole; (ii) the ability of Borrower and its Subsidiaries to pay or perform the Obligations in accordance with the terms of this Agreement and the other Transaction
Documents; or (iii) the rights and remedies of Agent and the Lenders under this Agreement, the other Transaction Documents or any related document, instrument or agreement. 

“Maturity Date” shall mean June 2, 2021. 

“Note” shall mean a promissory note or notes of Borrower substantially in the form attached as Exhibit A
hereto. 
 “Notice of Advance Request” shall have the meaning set forth in Section 2.03(c)
of this Agreement. 
 “Obligations” shall mean and include all loans, advances, debts, liabilities, and obligations,
including, without limitation, the obligation to make each payment scheduled to be made under each subsection of Section 2.02, howsoever arising, owed by Borrower or a Guarantor to Lenders of every kind and description
(whether or not evidenced by any note or instrument and whether or not for the payment of money), now existing or hereafter arising under or pursuant to the terms of this Agreement or the other Transaction Documents, including, without limitation,
all interest, fees, charges, expenses, attorneys’ fees and costs to and payable by Borrower or a Guarantor hereunder and thereunder, in each case, whether direct or indirect, absolute or contingent, due or to become due, and whether or not
arising after the commencement of a proceeding under Title 11 of the United States Code (11 U.S.C. Section 101 et seq.), as amended from time to time (including post-petition interest) and whether or not allowed or allowable as a claim
in any such proceeding. 
 “Patents” shall mean all patents, patent applications and like protections, including
without limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 

“Payment Date” shall have the meaning set forth in Section 2.02(b) of this Agreement. 

“Perfection and Disclosure Certificate” shall mean the Perfection and Disclosure Certificate delivered by Borrower to
Agent on or prior to the date of this Agreement. 

  
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 “Permitted Indebtedness” shall mean: 

(i) Indebtedness of Borrower in favor of Lenders arising under this Agreement or any other Transaction Document and the SVB
Indebtedness; 
 (ii) Indebtedness existing at Closing and disclosed on the Perfection and Disclosure Certificate 

(iii) Indebtedness secured by a lien described in clause (vi) of the definition of Permitted Liens, provided (A) such
Indebtedness does not exceed the lesser of the cost or fair market value of the equipment financed with such Indebtedness, (B) such Indebtedness does not exceed $100,000 in the aggregate at any given time, and (C) if applicable, the holder
of such Indebtedness agrees to waive any rights of set off such holder may have with respect to such Indebtedness in the deposit or investment accounts of Borrower and its Subsidiaries on terms reasonably satisfactory to Agent; 

(iv) Subordinated Debt; 

(v) Indebtedness pursuant to corporate credit cards not with SVB in an aggregate amount not to exceed $250,000 at any time; 

(vi) intercompany Indebtedness of a Subsidiary described in clause (viii) of the defined term “Permitted
Investment”; 
 (vii) other Indebtedness in an aggregate amount not to exceed $100,000 outstanding at any time; and 

(viii) extensions, refinancings, modifications, amendments and restatements of any item of Permitted Indebtedness described in
(ii) and (iii) above. 
 “Permitted Investments” shall mean: 

(i) Investments existing at Closing disclosed in the Perfection and Disclosure Certificate; 

(ii) (A) marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or
any State thereof maturing within one (1) year from the date of acquisition thereof, (B) commercial paper maturing no more than one (1) year from the date of creation thereof and currently having a rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors Service, Inc., and (C) certificates of deposit maturing no more than one
(1) year from the date of investment therein; 
 (iii) temporary advances to cover incidental expenses in the ordinary course of
business; 
 (iv) investments in joint ventures, strategic alliances, licensing and similar arrangements customary in Borrower’s
industry and which do not require Borrower to assume or otherwise become liable for the obligations of any third party not directly related to or arising out of such arrangement or require Borrower to transfer ownership of non-cash assets to such joint venture or other entity; 
 (v) Investments consisting of
(A) travel advances, employee relocation loans and other employee loans and advances in the ordinary course of business not to exceed $50,000 and (B) non-cash loans to employees, officers or
directors relating to the purchase of equity securities of Borrower pursuant to employee stock purchase plans or arrangements approved by Borrower’s board of directors; 

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

(vii) Investments consisting of notes receivable of, or prepaid royalties from and other credit obligations of, customers, suppliers and
debtors of Borrower, who are not Affiliates, in the ordinary course of business; 
 (viii) Investments (i) by Borrower in
Subsidiaries not to exceed Five Hundred Thousand Dollars ($500,000) in the aggregate in any month, and (ii) by Subsidiaries in other Subsidiaries or in Borrower; and 

(ix) other Investments in an aggregate amount not to exceed $100,000 outstanding at any time. 

“Permitted Liens” shall mean and include: 

(i) Liens in favor of Agent; 

(ii) Liens existing at Closing and disclosed in the Perfection and Disclosure Certificate; 

(iii) Liens granted in connection with SVB Indebtedness; 

(iv) Liens of carriers, warehousemen, mechanics, materialmen, vendors, and landlords incurred in the ordinary course of business for
sums not overdue or being contested in good faith, provided provision is made to the reasonable satisfaction of Agent for the eventual payment thereof if subsequently found payable; 

(v) leases or subleases and non-exclusive licenses or sublicenses granted in the ordinary course
of Borrower’s business; 
 (vi) Liens upon or in any equipment which was acquired or held by Borrower or any of its Subsidiaries
to secure the purchase price of such equipment (and any accessions, attachments, replacements or improvements thereon) or indebtedness incurred solely for the purpose of financing the acquisition of such equipment (and any accessions, attachments,
replacements or improvements thereon); 
 (vii) Liens existing on any equipment (and any accessions, attachments, replacements or
improvements thereon) at the time of its acquisition, provided that the Lien is confined solely to the equipment so acquired and any accessions, attachments, replacements or improvements thereon, and the proceeds of such equipment (and any
accessions, attachments, replacements or improvements thereon); 
 (viii) bankers’ liens, rights of setoff and similar Liens
incurred on deposits or securities accounts made in the ordinary course of business to the extent Agent has a security interest in such accounts; 

(ix) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default; 

(x) Liens for taxes not at the time delinquent or thereafter payable without penalty or being contested in good faith, provided
provision is made to the reasonable satisfaction of Agent for the eventual payment thereof if subsequently found payable; 

  
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 (xi) Liens in favor of customs and revenue authorities arising as a matter of law to
secure payments of customs duties in connection with the importation of goods; 
 (xii) Liens on insurance proceeds in favor of
insurance companies granted solely as security for financed premiums; 
 (xiii) Liens securing Subordinated Debt; 

(xiv) Liens on cash collateral in an aggregate amount not to exceed $250,000 to secure Indebtedness described in clause (v) of the
defined term “Permitted Indebtedness”; and 
 (xv) Liens incurred in connection with the extension, renewal or
refinancing of the indebtedness secured by Liens of the type described in clauses (i) through (iii) 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. 
 “Person” shall mean
and include an individual, a partnership, a corporation (including a business trust), a joint stock company, a limited liability company, an unincorporated association, a joint venture or other entity or a Governmental Authority. 

“PIK Interest” shall have the meaning set forth in Section 2.02(a)(ii) of this Agreement.

 “Requirement of Law” applicable to any Person shall mean (i) any Governmental Rule applicable to such
Person, (ii) any license, permit, approval or other authorization granted by any Governmental Authority to or for the benefit of such Person and (iii) any judgment, decision or determination of any Governmental Authority or arbitrator, in
each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Restricted License” is any material license or other agreement with respect to which Borrower is the licensee
(a) that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or agreement or any other property, or (b) for which a default under or termination of could interfere with
the Agent’s right to sell any Collateral. 
 “SBA Documents” means those documents set forth in Exhibit
J hereto. 
 “Subordinated Debt” shall mean any debt incurred by Borrower that is subordinated to the debt owing
by Borrower to Lenders on terms acceptable to Lenders (and identified as being such by Borrower and Lenders). 

“Subsidiary” of any Person shall mean (i) any corporation of which more than fifty percent (50%) of the issued
and outstanding equity securities having ordinary voting power to elect a majority of the Board of Directors of such corporation (irrespective of whether at the time capital stock of any other class or classes of such corporation shall or might have
voting power upon the occurrence of any contingency) is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such Person’s other Subsidiaries, and
(ii) any partnership, limited liability company, joint venture, or other business entity of which more than fifty percent (50%) of the equity interests having the power to vote, direct or control the management of such partnership, limited
liability company, joint venture or other business entity is at the time owned and controlled by such Person, by such Person and one or more of the other Subsidiaries or by one or more of such Person’s other Subsidiaries. Any reference to a
Subsidiary without designation of the ownership of such Subsidiary shall be deemed to refer to a Subsidiary of Borrower. 

“SVB” means Silicon Valley Bank. 

  
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 “SVB Indebtedness” means Indebtedness of Borrower in favor of SVB
(i) in connection with (x) revolving Advances (as defined in the SVB Loan Agreement) and (y) Borrower’s Bank Services (as defined in the SVB Subordination Agreement) with SVB (which Bank Services, whether provided under the SVB
Loan Agreement or otherwise, shall not exceed $2,000,000 at any time), in a total aggregate amount with respect to this clause (i) not to exceed $17,000,000; provided that such $17,000,000 amount may increase to up to $30,000,000, inclusive of
Borrower’s Bank Services (provided that Bank Services shall continue to not exceed $2,000,000), if (A) the formulas and definitions used to determine such revolving Advances and (B) other general terms of the SVB Loan Agreement are
unchanged from those existing as of the Closing Date; and (ii) in an aggregate principal amount not to exceed $1,400,000 in connection with Equipment Advances (as defined in the SVB Loan Agreement), which amount shall be reduced by the amount
of any principal payments with respect to each Equipment Advance (as defined in the SVB Loan Agreement). 
 “SVB Loan
Agreement” means that certain Loan and Security Agreement dated as of December 29, 2014, by and among Borrower and SVB, as amended by that certain First Amendment to Loan and Security Agreement dated as of August 17, 2016,
that certain Second Amendment to Loan and Security Agreement dated as of June 2, 2017, and as may be amended, restated, supplemented or otherwise modified from time to time. 

“SVB Subordination Agreement” means that certain Subordination Agreement dated as of the date hereof, by and among
Agent, Lenders and SVB, as may be amended, restated, supplemented or otherwise modified from time to time. 
 “Total
Commitment” shall mean Twenty Four Million Nine Hundred Ninety One Thousand One Hundred Forty Four Dollars ($24,991,144); provided that, with the prior written agreement of Lenders, which agreement may be given or withheld in the
sole discretion of Lenders, the Total Commitment may be increased by the amount of any Additional Commitment. 

“Trademarks” shall mean 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. 

“Transaction Documents” shall mean, collectively, this Agreement, the Notes, the Warrants and the other documents
executed in connection herewith and any guaranty of the Obligations and any security documents related to such guaranty. 

“Transfer” shall have the meaning set forth in Section 7.02 of this Agreement. 

“Warrant” shall mean a warrant or warrants to purchase capital stock of Borrower issued by Borrower to Lenders or
their Affiliates as provided by this Agreement. 
 All terms defined in the Code and not otherwise defined herein shall have the respective
meanings specified in the Code. 
 ARTICLE 2. THE LOANS. 

Section 2.01 Commitment. 

Subject to the terms and conditions of this Agreement, Lenders severally agree in accordance with Section 12.07 to loan to Borrower
(a) on the Closing Date, a term loan in an aggregate principal amount of Twenty Four Million Nine Hundred Ninety One Thousand One Hundred Forty Four Dollars ($24,991,144) (the “Loan”) (b) if any Additional Commitment has
been agreed to, on or prior to the date specified in Lenders’ written Agreement to Make Additional Loans and on the Funding Date specified in the Notice of Advance Request delivered by Borrower pursuant to
Section 2.03(c), which Funding Date shall not be less than fifteen (15) Business Days after delivery of such notice to Agent, one or more term 

  
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loans in an aggregate principal amount not to exceed Fifteen Million Eight Thousand Eight Hundred Fifty Six Dollars ($15,008,856) (the “Additional Loans”) (the Loans
referred to in clauses (a) and (b) are each a “Loan” and collectively, the “Loans”). The minimum amount of the Additional Loans must be at least the lesser of Five Million Dollars ($5,000,000) or
the remaining availability of Additional Loans. The aggregate original principal amount of the Loans shall not exceed the Total Commitment. Borrower may prepay Loans only in accordance with Section 2.02(c). Amounts prepaid
may not be reborrowed. 
 Section 2.02 Interest and Payments. 

(a) Interest. 
 (i)
Cash Interest. Borrower shall pay interest in arrears on the unpaid principal amount of each Loan from the date of such Loan until such Loan is paid in full at a per annum rate of interest equal to 6.5% (the “Cash
Interest”), which shall be payable in accordance with the terms of Section 2.02(b)(i). 
 (ii) PIK
Interest. Borrower shall incur additional interest in arrears on the unpaid principal amount of each Loan from the date of such Loan until such Loan is paid in full at a per annum rate of interest equal to 5.5%, which amount (the “PIK
Interest”) shall be added to increase the outstanding principal balance of such Loan on each Payment Date (and thereafter interest shall accrue thereon) and which amount shall be payable when the principal amount of the Loan is payable
or in accordance with the terms of Section 2.02(b)(ii). Notwithstanding the foregoing, Borrower, at its election and on each Payment Date, may elect to pay the PIK Interest (or any part thereof) that has not already been
added to the outstanding principal balance of the Loan pursuant to this Section 2.02(a)(ii) as Cash Interest pursuant to the terms of Section 2.02(b)(i). 

Interest on each Loan shall be calculated based upon a year of 360 days and actual days elapsed. If Borrower pays interest on a Loan which is
determined to be in excess of the then legal maximum rate, then that portion of each interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of the
Loan. 
 (b) Payments of Principal and Interest. 

(i) Cash Interest. Except as set forth in Section 2.02(c), on the first Business Day of each month (each a
“Payment Date”), commencing on the first Payment Date after the Funding Date and on each subsequent Payment Date through and including the Maturity Date, for each Loan, Borrower shall make payments to each Lender of interest
accrued through and including such Payment Date. 
 (ii) PIK Interest. On the Maturity Date, Borrower shall make a payment to each
Lender of PIK Interest accrued and not added to principal through and including the Maturity Date. 
 (iii) Payments on Maturity
Date. On the Maturity Date, Borrower shall pay to Agent and the Lenders the entire principal amount of the Loans then outstanding, all accrued and unpaid interest and all other amounts then due to Agent and the Lenders. 

(c) Prepayment. Upon ten (10) Business Days’ prior written notice to Agent, Borrower may, at its option, at any time, prepay
the Loans (or any portion thereof), in an amount equal to (A) the principal amounts of the Loans being prepaid, plus (B) accrued and unpaid interest thereon through and including the date of such prepayment, plus (C) the Applicable
Premium for the portion of each Loan being prepaid, plus (D) any other amounts then due to Lenders. The notice of prepayment shall state the amount of principal to be prepaid under each Loan 

 

  
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 Section 2.03 Use of Proceeds; the Loans and the Notes; Disbursement. 

(a) Use of Proceeds. The proceeds of the Loans shall be used for general domestic corporate purposes. Borrower agrees it shall not
Transfer any proceeds of the Loans or make any Investment with proceeds of the Loans to a Subsidiary that is not organized under the laws of the United States. 

(b) The Loans and the Notes. The obligation of Borrower to repay the aggregate unpaid principal amount of and interest on each Loan
shall be evidenced by Notes in favor of each Lender setting forth the principal amount of such Loan payable to such Lender and the payments due. Agent shall keep a record of the payments made under each Note on its books which records shall be prima
facie evidence of the amounts paid under the Notes absent manifest error. Any failure by Agent to obtain or retain such a Note shall not limit or otherwise affect the obligations of Borrower to pay amounts due hereunder with respect to a Loan. 

(c) Notice and Disbursement. At the Closing, Borrower shall notify Agent in writing of the desired Funding Date of the Initial Loan,
which notice shall be irrevocable and shall be substantially in the form of Exhibit F hereto (“Notice of Advance Request”). When Borrower desires Lenders to make the Additional Loan, Borrower shall deliver a Notice of Advance Request to
Agent at least fifteen (15) Business Days in advance of the desired Funding Date of the Additional Loan, which notice shall be irrevocable. Lenders’ obligation to make Loans shall be subject to the satisfaction of the conditions set forth
in Section 4.01. Lenders shall have the right to request that Borrower furnish Lenders with such additional information with respect to the Loan and the satisfaction of the conditions set forth in
Section 4.01, as Lenders shall reasonably request. Subject to the satisfaction of the conditions set forth in this Agreement which shall be confirmed to Agent and the Lenders in writing as of the date of funding, each
Lender shall disburse its pro rata portion of each Loan to the account of Borrower specified in Schedule 2. 
 Section 2.04
Other Payment Terms. 
 (a) Place and Manner. All regularly scheduled payments due to the Lenders shall be effected by
automatic debit of the appropriate funds from Borrower’s Primary Operating Account. Borrower shall make all other payments due to the Lenders in lawful money of the United States, in immediately available funds, according to the instructions
for other payments specified in Schedule 2. 
 (b) Date. Whenever any payment due hereunder shall fall due on a day other than
a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall be included in the computation of interest or fees, as the case may be. 

(c) Default Rate. After the occurrence and during the continuance of an Event of Default, Borrower shall pay interest on the aggregate,
outstanding principal balance hereunder from the date due until such past due amounts are paid in full, at a per annum rate equal to the Default Rate. All computations of such interest shall be based on a year of 360 days and actual days elapsed.

 (d) Commitment Fee. At the Closing, Borrower shall pay to Lenders (or Agent for the benefit of Lenders) a commitment fee in the
amount of Two Hundred Twenty Four Thousand Nine Hundred Twenty Dollars ($224,920) (the “Initial Commitment Fee”) which Agent shall be permitted to deduct from the initial Loan. On Funding Date of the Loan made under an
Additional Commitment, Borrower shall pay to Lenders (or Agent for the benefit of Lenders) a commitment fee for such Loan in an amount equal to the principal amount of such Loan multiplied by 0.90% (the “Additional Commitment
Fee”) which Agent shall be permitted to deduct from such Loan. The Initial Commitment Fee and the Additional Commitment Fee are fully earned upon payment. 

  
 10 

 ARTICLE 3. CREATION OF SECURITY INTEREST. 

Section 3.01 Grant of Security Interest. Borrower grants and pledges to Agent on behalf of all Lenders
a continuing security interest in all presently existing and hereafter acquired or arising Collateral in order to secure prompt payment of any and all Obligations and in order to secure prompt performance by Borrower of each of its covenants and
duties under the Transaction Documents. Notwithstanding termination of this Agreement, Agent’s Lien on the Collateral shall remain in effect for so long as any Obligations (other than inchoate indemnity obligations) are outstanding. 

ARTICLE 4. CLOSING. 

Section 4.01 Conditions Precedent. The obligation of Lenders to fund a Loan shall be subject to the
following conditions precedent: 
 (a) Conditions to Closing. Agent shall have received on or before the Closing in form and substance
satisfactory to Agent and the Lenders: 
 (i) This Agreement, duly executed by Borrower. 

(ii) Copies, certified by the Secretary or Assistant Secretary of Borrower, of: (A) the Certificate of Incorporation and Bylaws of
Borrower (as amended to the date of this Agreement), (B) the resolutions adopted by Borrower’s board of directors authorizing the transaction and the documents being executed in connection therewith, and (C) the incumbency of the
officers executing this Agreement and the other Transaction Documents on behalf of Borrower, in substantially similar form as Exhibit E hereto. 

(iii) Good Standing Certificate(s) with respect to Borrower from Borrower’s state of incorporation and principal place of
business, if different, (each) as of a date acceptable to Agent. 
 (iv) Certificate(s) of insurance and evidence of the insurance
coverage required by Section 6.05 of this Agreement. 
 (v) The Warrants to be issued to the designees of
the Lenders in forms provided by Agent and agreed to by Borrower, duly executed by Borrower, in substantially similar form as Exhibit H hereto. 

(vi) The Perfection and Disclosure Certificate, in substantially similar form as Exhibit G hereto. 

(vii) Control agreements sufficient to perfect a security interest in Borrower’s deposit accounts and securities accounts executed
by each applicable bank or other financial institution, in forms reasonably acceptable to Agent. 
 (viii) The SBA Documents. 

(ix) All other documents as Agent shall have reasonably requested. 

(x) A legal opinion of counsel to Borrower covering the matters set forth in Exhibit C hereto in form and substance reasonably
satisfactory to Agent. 
 (xi) The Commitment Fee specified in Section 2.04(d). 

(xii) The SVB Subordination Agreement. 

(xiii) A detailed capitalization table of Borrower. 

(xiv) A duly executed Notice of Advance Request with respect to the Initial Loan in substantially similar form as Exhibit F hereto.

 (xv) A duly executed Authorization for Automatic Payment in substantially similar form as Exhibit I hereto. 

  
 11 

 (b) Conditions to Funding of Each Loan. Prior to the funding of each Loan, the following
conditions with respect to such Loan shall have been satisfied by Borrower or waived by Agent and the Lenders: 
 (i) Borrower shall
have executed and delivered one or more Note(s) in favor of Lenders prepared by Agent setting forth the terms of the Loan. 
 (ii) No
Event of Default or Default shall have occurred and be continuing. 
 (iii) In Agent’s sole discretion, no event shall have
occurred or condition shall exist that has had or could be reasonably expected to have a Material Adverse Effect. 
 (iv) The
representations and warranties contained in this Agreement and the other Transaction Documents to which Borrower is a party shall be true and correct in all material respects as if made on the date of funding of the Loan, except to the extent such
representations and warranties expressly refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date. 

(v) Each of the Transaction Documents shall be in full force and effect. 

(vi) Borrower shall have provided to Agent such documents, instruments and agreements, including financing statements or amendments to
financing statements, as Agent shall reasonably request to evidence the perfection and priority of the security interests granted to Agent 

(c) Condition to Funding Loans under any Additional Commitment. Lenders shall have agreed in writing to the Additional Commitment (an
“Agreement to Make Additional Loans”), which agreement may be given or withheld in the sole discretion of Lenders. 

Section 4.02 Post-Closing. Not more than thirty (30) days following the Closing Date, Agent shall
have received evidence, satisfactory to Agent in its sole discretion, of the termination of the security interest of Venture Lending and Leasing III, Inc. in Borrowers Trademarks. 

ARTICLE 5. REPRESENTATIONS AND WARRANTIES OF BORROWER. 

Borrower represents and warrants to Agent and the Lenders: 

Section 5.01 Due Incorporation, Qualification, etc. Each of Borrower and its Subsidiaries (i) is a
registered organization duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation or formation; (ii) has the power and authority to own, lease and operate its properties and carry on its business
as now conducted; and (iii) is duly qualified, licensed to do business and in good standing as a foreign registered organization in each jurisdiction where the failure to be so qualified or licensed could reasonably be expected to have a
Material Adverse Effect. 
 Section 5.02 Authority. The execution, delivery and performance by
Borrower of each Transaction Document to be executed by Borrower and the consummation of the transactions contemplated thereby (i) are within the power of Borrower and (ii) have been duly authorized by all necessary actions on the part of
Borrower. 
 Section 5.03 Enforceability. Each Transaction Document executed, or to be executed, by
Borrower has been, or will be, duly executed and delivered by Borrower and constitutes, or will constitute, a legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as limited by
bankruptcy, insolvency or other similar laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity. 

  
 12 

 Section 5.04
Non-Contravention. The execution and delivery by Borrower of the Transaction Documents executed by Borrower and the performance and consummation of the transactions contemplated thereby do
not and will not (i) violate its certificate of incorporation or bylaws, (ii) violate in any material respect any Requirement of Law applicable to Borrower; (iii) violate any provision of, or result in the breach or the acceleration
of, or entitle any other Person to accelerate (whether after the giving of notice or lapse of time or both), any material Contractual Obligation of Borrower; or (iv) result in the creation or imposition of any Lien upon any property, asset or
revenue of Borrower (except such Liens as may be created in favor of Agent pursuant to this Agreement or the other Transaction Documents). 

Section 5.05 Approvals. No consent, approval, order or authorization of, or registration, declaration
or filing with, any Governmental Authority or other Person (including, without limitation, the shareholders of any Person) is required in connection with the execution and delivery of the Transaction Documents executed by Borrower and the
performance and consummation of the transactions contemplated thereby, other than (i) consents, approvals, orders or authorizations, or registrations, declarations or filings that have already been obtained and (ii) state securities
filings related to the Warrant. 
 Section 5.06 No Violation or Default. None of Borrower or
Borrower’s Subsidiaries is in violation of or in default with respect to (i) its certificate of incorporation or bylaws; (ii) any Requirement of Law; or (iii) any Contractual Obligation (nor is there any waiver in effect which,
if not in effect, would result in such a violation or default), where, in each case, such violation or default, individually, or together with all such violations or defaults, could reasonably be expected to have a Material Adverse Effect. No Event
of Default or Default has occurred and is continuing. 
 Section 5.07 Litigation. No actions
(including, without limitation, derivative actions), suits, proceedings or investigations are pending or, to the knowledge of Borrower, threatened against Borrower or Borrower’s Subsidiaries at law or in equity in any court or before any other
Governmental Authority which if adversely determined (i) could reasonably be expected (alone or in the aggregate) to have a Material Adverse Effect or (ii) seeks to enjoin, either directly or indirectly, the execution, delivery or
performance by Borrower of the Transaction Documents or the transactions contemplated thereby. Except as set forth in the Perfection and Disclosure Certificate, Borrower has no commercial tort claims. 

Section 5.08 Collateral. Borrower has good and marketable title to all Collateral, free and clear of
all Liens, other than Permitted Liens. Borrower has no deposit accounts or securities accounts, other than the deposit accounts and securities accounts described in the Perfection and Disclosure Certificate and those permitted under
Section 7.09. Except as described in the Perfection and Disclosure Certificate or as permitted under Section 6.09, the Collateral is not in the possession of any third party bailee (such as at a
warehouse). 
 Section 5.09 Financial Statements. The Financial Statements of Borrower which have
been delivered to Agent (i) are in accordance with the books and records of Borrower and its Subsidiaries, which have been maintained in accordance with good business practice; (ii) have been prepared in conformity with generally accepted
accounting principles (other than, with respect to interim Financial Statements, the absence of footnotes and normal year-end adjustments); and (iii) fairly present in all material respects the
consolidated financial position of Borrower as of the dates presented therein and the results of operations, cash flows, and, if applicable stockholders’ equity, for the periods presented therein. As of the date hereof, none of Borrower or any
of Borrower’s Subsidiaries has any contingent obligations, liability for taxes or other outstanding obligations which are material in the aggregate, except as disclosed in the most recent audited Financial Statements (including the notes
thereto) furnished by Borrower to Agent prior to the date hereof. There have not been any changes in the financial condition or results of operations of Borrower which are material in the aggregate since the most recent Financial Statements
furnished by Borrower to Agent. 

  
 13 

 Section 5.10 Solvency. The fair salable value of
Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is able to pay its debts
(including trade debts) as they mature. 
 Section 5.11 Taxes. Each of Borrower and its Subsidiaries
has filed or caused to be filed all tax returns that are required to be filed by it except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. Borrower and Borrower’s Subsidiaries have paid, or made
provision for the payment of, all taxes which have or may have become due pursuant to said returns or otherwise, except such taxes, if any, which are being contested in good faith and as to which adequate reserves (determined in accordance with
generally accepted accounting principles) have been provided or which could not reasonably be expected to have a Material Adverse Effect if unpaid. 

Section 5.12 Catastrophic Events; Labor Disputes. Neither Borrower nor Borrower’s Subsidiaries
and none of their properties is or has been affected by any fire, explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or other casualty that could reasonably be expected to have a
Material Adverse Effect. There are no disputes presently subject to grievance procedure, arbitration or litigation under any of the collective bargaining agreements, employment contracts or employee welfare or incentive plans to which Borrower or
Borrower’s Subsidiaries is a party, and there are no strikes, lockouts, work stoppages or slowdowns, or, to the best knowledge of Borrower, jurisdictional disputes or organizing activity occurring or threatened which could reasonably be
expected to have a Material Adverse Effect. 
 Section 5.13 No Material Adverse Effect. No event has
occurred and no condition exists which could reasonably be expected to have a Material Adverse Effect. 
 Section 5.14
First Priority. Assuming the timely filing of financing statements the security interest granted hereby constitutes a first priority security interest in and Lien on all of the Collateral, subject only to Permitted Liens. 

Section 5.15 Perfection and Disclosure Certificate. All of the information set forth in the Perfection
and Disclosure Certificate delivered to Agent is correct as of the date hereof. 
 Section 5.16 Intellectual
Property. Borrower is the sole owner of, or has the right to use, the Intellectual Property used in its business, except for non-exclusive licenses granted by Borrower to its customers in the ordinary
course of business. To Borrower’s knowledge, no part of the Intellectual Property has been judged invalid or unenforceable, in whole or in part, and no claim has been made that any part of the Intellectual Property violates the rights of any
third party. Borrower has no registered copyrights. 
 ARTICLE 6. AFFIRMATIVE COVENANTS. 

While any Obligations or unfunded amount of the Total Commitment remain outstanding; 

Section 6.01 Financial Statements. Borrower shall provide to Agent the Financial Statements specified
in Section 6.01(a) and Section 6.01(b) and the other information specified below; provided, however, that after the effective date of the initial registration statement covering a public
offering of Borrower’s securities, Borrower shall only be required to deliver those financial statements and other information required to be filed by the Securities and Exchange Commission, to be provided as soon as practicable and no less
frequently than quarterly, together with a Compliance Certificate in substantially similar form as Exhibit D hereto. 
 (a) As
soon as practicable (and in any event within thirty (30) days after the end of each month), unaudited Financial Statements for such month, certified by Borrower’s Chief Executive Officer or Chief Financial Officer to fairly present in all
material respects the data reflected therein. 

  
 14 

 (b) As soon as practicable (and in any event within thirty (30) days after the end of
each quarter), unaudited Financial Statements for such quarter, certified by Borrower’s Chief Executive Officer or Chief Financial Officer to fairly present in all material respects the data reflected therein. 

(c) As soon as practicable (and in any event within 270 days for fiscal year 2017, 180 days for fiscal year 2018, and ninety
(90) days after the end of each subsequent fiscal year), audited Financial Statements for such year, setting forth in comparative form the corresponding figures for the preceding fiscal year, and accompanied by an audit report and unqualified
opinion of the independent certified public accountants of recognized national standing selected by Borrower and reasonably satisfactory to Agent. 

(d) No later than thirty (30) days before the start of Borrower’s fiscal year, operating plan and financial projections for
the next fiscal year approved by Borrower’s Board of Directors. 
 (e) Copies of all 409(A) valuation reports, if any, each
within thirty (30) days of completion. 
 Section 6.02 Other Information. Borrower shall
promptly provide to Agent: 
 (a) copies of all board packages delivered to its board of directors in connection with board meetings
or otherwise; 
 (b) detailed capitalization tables (by round and investor) on a quarterly basis; 

(c) notice of all actions, suits and proceedings before any Governmental Authority that could reasonably be expected to result in costs
or damages to Borrower of One Hundred Thousand Dollars ($100,000) or more; 
 (d) notice of any Default, Event of Default, Event of
Loss, or any matter which has resulted or could reasonably be expected to result in a Material Adverse Effect; 
 (e) notice of the
formation of any Subsidiary; and 
 (f) any additional information as Agent shall reasonably request to evaluate Borrower’s
continuing financial obligations. 
 Section 6.03 Corporate Identity. Borrower shall notify Agent in
writing thirty (30) days prior to any change in Borrower’s principal place of business or chief executive office and any change of Borrower’s name, type of entity or jurisdiction of formation. 

Section 6.04 Authorization for Automated Clearinghouse Funds Transfer. Borrower shall
(i) authorize Agent to initiate debit entries to Borrower’s account specified in Schedule 2 (“Borrower’s Primary Operating Account”) through Automated Clearing House (“ACH”)
transfers, in order to satisfy regularly scheduled payments of principal, interest, the Applicable Premium and other amounts due under this Agreement; (ii) provide Agent at least thirty (30) days prior written notice of any change in
Borrower’s Primary Operating Account; and (iii) grant Agent any additional authorizations necessary to begin ACH debits from a new account which becomes Borrower’s Primary Operating Account. 

Section 6.05 Insurance. Borrower shall, at its own expense, obtain and carry insurance in amounts and
forms reasonably acceptable to Agent, including insurance against loss or damage to the Collateral and commercial general liability insurance. The insurance against loss or damage to the Collateral shall name Agent as lender loss payee with respect
to the Collateral, shall not be invalidated by any action of or breach of warranty by Borrower of any provision thereof and shall waive subrogation against Agent. The liability policy(ies) shall name Agent as an additional insured in the full amount
of Borrower’s liability coverage limits (or the coverage limits of any successor to Borrower or such 

  
 15 

 
successor’s parent which is providing coverage), be primary and without contribution as respects any insurance carried by Agent and contain cross liability and severability of interest
clauses. All policies of insurance shall provide that Agent shall be given thirty (30) days’ notice of cancellation of coverage. On or prior to the first Funding Date and prior to each policy renewal, Borrower shall furnish to Agent,
certificates of insurance or other evidence satisfactory to Agent that insurance complying with all of the above requirements is in effect. 

Section 6.06 Taxes. Borrower shall pay all material taxes and other governmental or regulator
assessments before delinquency or before any penalty attaches thereto, except as may be contested in good faith by the appropriate procedures and for which Borrower shall maintain appropriate reserves; and timely file all required material tax
returns. 
 Section 6.07 Further Assurances. 

(a) Borrower shall promptly furnish to Agent from time to time such statements and schedules further identifying and describing the
Collateral and such other reports in connection with the Collateral as Agent may reasonably request, all in reasonable detail. Borrower shall take such further actions as Agent may reasonably request to perfect or maintain Agent’s security
interest granted in this Agreement or to otherwise further the purposes of this Agreement. 
 (b) Agent and Lenders (through any of
their officers, employees, or agents) shall have the right, upon reasonable prior notice, from time to time during Borrower’s usual business hours, to inspect Borrower’s books and records and to make copies thereof and to inspect, test,
and appraise the Collateral in order to verify Borrower’s financial condition or the amount, condition of, or any other matter relating to, the Collateral. 

Section 6.08 Loss; Damage; Destruction and Seizure. 

(a) If while payment Obligations are outstanding any item of Collateral is lost, stolen, destroyed, damaged beyond repair or seized by a
Governmental Authority (an “Event of Loss”), then, if no Event of Default has occurred and is continuing, any proceeds of insurance or any award paid by the seizing Governmental Authority that is received by Agent or Borrower
shall be applied, at Borrower’s option, (i) to the Obligations, or (ii) to purchase an item of Collateral to replace the item of Collateral which was subject to the Event of Loss, or to purchase other property used in Borrower’s
business, and such replacement item, or such other property, shall become part of the Collateral. If any such proceeds or awards are paid while an Event of Default has occurred and is continuing, Agent may, at its option, apply such proceeds or
awards to the Obligations. 
 (b) So long as no Event of Default has occurred and is continuing, any proceeds of insurance received by
Agent or Borrower with respect to an item of Collateral the repair of which is practicable shall, at the election of Borrower, be applied either to the repair of such Collateral or to the reimbursement of Borrower for the cost of such repair. If any
such proceeds or awards are paid while an Event of Default has occurred and is continuing, Agent may at its option apply such proceeds or awards to the Obligations. 

Section 6.09 Collateral Control. Except for Collateral that is of a type that is moved from location
to location in the ordinary course of business, Borrower shall keep all items of Collateral at (i) Borrower’s facility located at the address specified in Section 12.06, (ii) the locations specified in the
Perfection and Disclosure Certificate, (iii) any supplier’s facility located outside the United States or (iv) such other places agreed to in writing by Agent subject to any conditions reasonably imposed by Agent. Borrower shall
furnish to Agent from time to time such statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as Agent may reasonably request, all in reasonable detail. 

  
 16 

 Section 6.10 Compliance with Requirements of Law. Each of
Borrower and Borrower’s Subsidiaries shall comply in all material respects with all Requirements of Law. 

Section 6.11 Management Rights. 

(a) From and after the date hereof, Lenders independently shall have the following contractual management rights. Such rights shall be
in addition to, and nothing in this Agreement shall be deemed to limit, any other rights that a Lender may hold as a lender to or equity holder of Borrower or otherwise. 

(i) Each Lender shall be entitled to consult with and advise management of Borrower on significant business issues, including without
limitation management’s proposed quarterly and annual operating plans. Upon request of a Lender, management of Borrower shall meet with authorized representatives of the Lender, at a mutually agreeable time and place, within thirty
(30) days after the end of each calendar quarter for such consultation and advice and to review progress in achieving such plans. 

(ii) Each Lender shall be entitled to examine the books and records of Borrower, inspect its facilities, and receive other information
at reasonable times and intervals concerning the general status of Borrower’s financial condition and operations. 
 (b) The
management rights granted in Section 6.11(a) shall terminate upon the earlier of (i) consummation of a sale of Borrower’s securities pursuant to a registration statement filed by Borrower under the Securities Act
of 1933 in connection with a firm commitment underwritten offering of Borrower’s securities to the general public and (ii) such time as a Lender shall not hold any debt, stock or warrants to purchase stock of Borrower. 

Section 6.12 Board Observation Rights. Lenders shall have the right to appoint a representative to
serve as a board observer (the “Board Observer”) and Borrower shall invite each Board Observer to attend all meetings of its Board of Directors in a nonvoting observer capacity and, for such purposes, shall give the Board
Observer copies of all notices, minutes, consents, and other materials that it provides to its directors; provided, however, that Borrower may withhold any information and exclude such representative from any meeting or portion thereof if
(i) access to such information or attendance at such meeting or portion thereof could reasonably be expected to adversely affect the attorney-client privilege between Borrower and its counsel with respect to actual or potential litigation; or
(ii) access to such information or attendance at such meeting could result in a conflict of interest between such Lender or its representative and Borrower with respect to matters concerning the financing transaction between Borrower, Agent and
the Lenders. 
 Section 6.13 Formation or Acquisition of Domestic Subsidiaries. Notwithstanding and
without limiting the notice requirement in Section 6.02(e) and the negative covenant in Section 7.06 of this Agreement, at the time that Borrower forms or acquires any direct or indirect Subsidiary
organized in the United States, Borrower shall, upon Agent’s request (a) cause such new Subsidiary to guaranty the Obligations, together with such appropriate, security agreements, financing statements and/or control agreements, all in
form and substance satisfactory to Agent (including being sufficient to grant Agent a first priority Lien (subject to Permitted Liens) in and to the assets of such newly formed or acquired Subsidiary), (b) provide to Agent, upon Agent’s
request, appropriate certificates and stock powers and financing statements, pledging all of the direct or beneficial ownership interest in such new Subsidiary, in form and substance satisfactory to Agent, and (c) provide to Agent all other
documentation in form and substance satisfactory to Agent that in its opinion is appropriate with respect to the execution and delivery of the applicable documentation referred to above. 

  
 17 

 Section 6.14 Protection and Registration of Intellectual Property
Rights. 
 (a) Borrower shall (i) protect, defend and maintain the validity and enforceability of its Intellectual
Property; (ii) promptly advise Agent in writing of material infringements or any other event that could reasonably be expected to materially and adversely affect the value of its Intellectual Property; and (iii) not allow any Intellectual
Property material to Borrower’s business to be abandoned, forfeited or dedicated to the public without Agent’s written consent. 

(b) If Borrower (i) obtains any Patent, registered Trademark, registered Copyright, registered mask work, or any pending
application for any of the foregoing, whether as owner, licensee or otherwise, or (ii) applies for any Patent or the registration of any Trademark, then Borrower shall immediately provide written notice thereof to Agent and shall execute such
intellectual property security agreements and other documents and take such other actions as Agent may reasonably request to perfect and maintain a first priority perfected security interest in favor of Agent in such property. If Borrower decides to
register any Copyrights or mask works in the United States Copyright Office, Borrower shall: (x) provide Agent with at least thirty (30) days prior written notice of Borrower’s intent to register such Copyrights or mask works together
with a copy of the application it intends to file with the United States Copyright Office (excluding exhibits thereto); (y) execute an intellectual property security agreement and such other documents and take such other actions as Agent may
reasonably request to perfect and maintain a first priority perfected security interest in favor of Agent in the Copyrights or mask works intended to be registered with the United States Copyright Office; and (z) record such intellectual
property security agreement with the United States Copyright Office contemporaneously with filing the Copyright or mask work application(s) with the United States Copyright Office. Borrower shall promptly provide to Agent copies of all applications
that it files for Patents or for the registration of Trademarks, Copyrights or mask works, together with evidence of the recording of the intellectual property security agreement required for Agent to perfect and maintain a first priority perfected
security interest in such property. 
 (c) Borrower shall provide written notice to Agent within ten (10) days of entering or
becoming bound by any Restricted License (other than over-the-counter software that is commercially available to the public). Borrower shall take such steps as Agent
reasonably requests to obtain the consent of, or waiver by, any person whose consent or waiver is necessary for (i) any Restricted License to be deemed “Collateral” and for Agent to have a security interest in it that might otherwise
be restricted or prohibited by law or by the terms of any such Restricted License, whether now existing or entered into in the future, and (ii) Agent to have the ability in the event of a liquidation of any Collateral to dispose of such
Collateral in accordance with Agent’s rights and remedies under this Agreement and the other Transaction Documents. 
 ARTICLE 7. NEGATIVE
COVENANTS. 
 While any Obligations or unfunded amount of the Total Commitment remain outstanding: 

Section 7.01 Liens. Borrower shall not (i) in any way create or permit to exist any Lien with
respect to any of its or its Subsidiaries’ property, except for Permitted Liens; or (ii) enter into or permit to exist any agreement that restricts the ability of Borrower or such Subsidiary to grant a Lien to Agent or Lenders in any of
Borrower’s or such Subsidiary’s property (other than (A) restrictions that would be unenforceable or ineffective pursuant to Section 9-408 of the Code or the Uniform Commercial Code as
adopted in any other applicable jurisdiction and (B) restrictions in agreements governing property subject to a Lien that is otherwise permitted pursuant to clause (vi) or clause (vii) of the definition of Permitted Lien). 

Section 7.02 Transfers. Borrower shall not sell, transfer, assign, pledge, collaterally assign,
exchange, or otherwise dispose of (collectively, a “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, other than: (i) Transfers of inventory in the ordinary course of
business, (ii) Transfers of non-exclusive licenses and similar arrangements for the use of the property of Borrower or its Subsidiaries in the ordinary course of business, (iii) Transfers of worn-out, unneeded or obsolete equipment; or (iv) other Transfers of property having a book value not exceeding $100,000. 

  
 18 

 Section 7.03 Change of Control. Without the prior written
consent of Agent and the Lenders, there shall not occur any transaction or series of transactions, whether by merger, consolidation, sale of stock or otherwise, pursuant to which the holders of Borrower’s voting Equity Securities prior to the
transaction or series of transaction do not hold at least 50% of the voting power of Borrower or any resulting Person after such transaction or transactions, or through the sale of all or substantially all of its assets, unless (i) the
Obligations are assumed or unconditionally guaranteed in a manner satisfactory to Agent and the Lenders by a Person which is the ultimate parent entity (the “Acquirer”) of the acquiring person and (ii) the Acquirer is a
creditworthy entity (as determined by Agent in its sole discretion). 
 Section 7.04 Distributions.
Without the prior written consent of Agent and the Lenders, Borrower shall not (i) pay any dividends or make any distributions on its Equity Securities; (ii) purchase, redeem, retire, defease or otherwise acquire for value any of its
Equity Securities (other than repurchases pursuant to the terms of employee stock purchase plans, employee restricted stock agreements or similar arrangements either (1) by the cancellation of Indebtedness or (2) in an aggregate amount not
to exceed $100,000); (iii) return any capital to any holder of its Equity Securities as such; (iv) make any distribution of assets, Equity Securities, obligations or securities to any holder of its Equity Securities as such; or (v) set
apart any sum for any such purpose; provided, however, Borrower may declare dividends payable solely in common stock and make cash payments in lieu of the issuance of fractional shares upon the conversion of convertible securities.
Borrower shall not suffer or permit 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. 

Section 7.05 Indebtedness. Borrower shall not, and shall not permit its Subsidiaries to, create,
incur, assume or suffer to exist any Indebtedness, other than Permitted Indebtedness. 
 Section 7.06
Investments. Borrower shall not, and shall not permit its Subsidiaries to, directly or indirectly acquire or own, or make any Investment in or to, any Person (including a Subsidiary) other than Permitted Investments. 

Section 7.07 Transactions with Affiliates. Borrower shall not, and shall not permit its Subsidiaries
to, directly or indirectly enter into or permit to exist any material transaction with any Affiliate, except for transactions that are in the ordinary course of such Person’s business, upon fair and reasonable terms that are no less favorable
to Borrower, or such Subsidiary, than would be obtained in an arms’ length transaction with a non affiliated Person; provided that the foregoing restriction shall not apply to (i) any transaction between Borrower and any of its
Subsidiaries or between any Subsidiaries that is not otherwise prohibited by this Agreement, (ii) reasonable and customary fees paid to members of the board of directors of Borrower and its Subsidiaries, and (iii) compensation arrangements
and benefit plans for officers and other employees of Borrower and its Subsidiaries entered into or maintained in the ordinary course of business. 

Section 7.08 Indebtedness Payments. Borrower shall not (i) prepay, redeem, purchase, defease or
otherwise satisfy in any manner prior to the scheduled repayment thereof any Indebtedness for borrowed money or any lease obligations (other than (A) amounts due or permitted to be prepaid under this Agreement or (B) the conversion of
convertible debt securities into equity securities and in connection therewith cash payments in lieu of issuing fractional shares), (ii) amend, modify or otherwise change the terms of any Indebtedness (other than the Loans) or capital lease
obligations so as to accelerate the scheduled repayment thereof or (iii) repay any Indebtedness to officers, directors or shareholders. 

Section 7.09 Accounts. Borrower shall not, and shall not permit its domestic Subsidiaries to, maintain
any deposit accounts or securities accounts except accounts with respect to which Agent has obtained a control agreement with the bank or other financial institution sufficient to perfect a security interest in such deposit accounts or securities
accounts. The foregoing sentence shall not apply to deposit accounts used exclusively to maintain cash collateral to secure credit cards in amounts permitted pursuant to this Agreement and identified in writing by Borrower to Agent as such. 

  
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 Section 7.10 Line of Business. Borrower shall not, and
shall not permit its Subsidiaries to, engage in any line of business other than the lines of business of Borrower and its Subsidiaries existing on the date hereof, together with lines of business reasonably related or ancillary thereto. 

ARTICLE 8. PRESERVATION OF COLLATERAL. 

Should Borrower fail or refuse to make any payment, perform or observe any other covenant, condition or obligation, or take any other action
which Borrower is obligated under any Transaction Document to make, perform, observe, take or do at the time or in the manner provided in any Transaction Document, then at Agent’s sole and absolute discretion, without notice to or demand upon
Borrower and without releasing Borrower from any obligation, covenant or condition in any Transaction Document, Agent may make, perform, observe, take or do the same in such manner and to such extent as Agent may deem necessary to protect its
security interest in or the value of the Collateral. In furtherance of the foregoing rights, Borrower does hereby irrevocably appoint Agent (which appointment is coupled with an interest), the true and lawful attorney-in-fact of Borrower with full power of substitution, for it and in its name (i) to perform (but Agent shall not be obligated to and shall incur no liability to Borrower or any third party for
failure to perform) any act which Borrower is obligated by this Agreement to perform, (ii) to ask, demand, collect, receive, receipt for, sue for any and all rents, issues, profits, avails, distributions, income, payment draws and other sums in
which a security interest is granted under Section 3.01 with full power to settle, adjust or compromise any claim thereunder as fully as if Agent were Borrower itself, (iii) to receive payment of and to endorse the
name of Borrower to any items of Collateral (including checks, drafts and other orders for the payment of money) that come into Agent’s possession or under Agent’s control, (iv) to make all demands, consents and waivers, or take any
other action with respect to, the Collateral, (v) in Agent’s discretion, to file any claim or take any other action or institute proceedings, either in its own name or in the name of Borrower or otherwise, which Agent may reasonably deem
necessary or appropriate to protect and preserve the right, title and interest of Agent in and to the Collateral, and (vi) to otherwise act with respect thereto as though Agent were the outright owner of the Collateral; provided,
however, that the power of attorney herein granted shall be exercisable only upon the occurrence and during the continuation of an Event of Default. Borrower agrees to reimburse Agent upon demand for all reasonable costs and expenses, including
attorneys’ fees and expenses, which Agent may incur while acting as Borrower’s attorney in fact or otherwise under this Article 8, all of which costs and expenses are included within the Obligations. 

ARTICLE 9. EVENTS OF DEFAULT. 

Section 9.01 Events of Default. The occurrence of any of the following shall constitute an
“Event of Default” under the Transaction Documents: 
 (a) Failure to Pay. Borrower shall fail to pay when due
any principal, interest or other payment required under the terms of this Agreement or any other Transaction Document on the date due and such payment shall not have been made within three (3) Business Days of the due date; or 

(b) Breaches of Other Covenants. Borrower or any of its Subsidiaries shall fail to perform or observe (i) any of the covenants or
agreements contained in Sections 6.01, 6.02, 6.03, 6.05, 6.06, 6.08, 6.09, 6.12, 6.13, 6.14 or Article 7 hereof or (ii) any other covenant, or agreement contained in
any Transaction Document (other than the other Events of Default specified in this Article 9) and such failure remains unremedied for twenty (20) days from the earlier of (x) the date on which the Agent has given Borrower written
notice of such failure and (y) the date on which Borrower knew or should have known of such failure; or 
 (c) Representations and
Warranties. Any representation, warranty, certificate, or other statement (financial or otherwise) made or furnished by or on behalf of Borrower to Agent in writing in connection with this Agreement or any of the other Transaction Documents, or
as an inducement to Agent or Lenders to enter into the Transaction Documents, shall be false or misleading in any material respect when made or furnished; or 

  
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 (d) Other Payment Obligations. Borrower or any of its Subsidiaries shall (i) fail to
make any payment when due under the terms of any Indebtedness to be paid by such Person (excluding this Agreement and the other Transaction Documents but including any other Indebtedness of Borrower or any of its Subsidiaries to Agent or any Lender)
and such failure shall continue beyond any period of grace provided with respect thereto, or (ii) shall default in the observance or performance of any other agreement, term or condition contained in any such Indebtedness, and the effect of
such failure or default under (i) or (ii) above is to cause, or permit the holder or holders thereof to cause Indebtedness in an aggregate amount of One Hundred Thousand Dollars ($100,000) or more to become due prior to its stated date of
maturity; or 
 (e) Insolvency. Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes
insolvent; or 
 (f) Voluntary Bankruptcy or Insolvency Proceedings. Borrower or any of its Subsidiaries shall (i) apply for or
consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, (ii) be unable, or admit in writing its inability, to pay its obligations generally as they come due or
otherwise become insolvent, (iii) make a general assignment for the benefit of its or any of its creditors, (iv) be dissolved or liquidated in full or in part or be subject to a distressed sale, (v) commence a voluntary case or other
proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking
possession of its property by any official in an involuntary case or other proceeding commenced against it, or (vi) take any action for the purpose of affecting any of the foregoing; or 

(g) Involuntary Bankruptcy or Insolvency Proceedings. Proceedings for the appointment of a receiver, trustee, liquidator or custodian of
Borrower or any of its Subsidiaries or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to Borrower or any of its Subsidiaries or the
debts thereof under any bankruptcy, insolvency or other similar law now or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within thirty (30) days of commencement;
or 
 (h) Judgments. A final judgment or order for the payment of money in excess of One Hundred Thousand Dollars ($100,000) (that is
not covered by insurance) shall be rendered against Borrower or any of its Subsidiaries and the same shall remain undischarged for a period of thirty (30) days during which execution shall not be effectively stayed, or any judgment, writ,
assessment, warrant of attachment, or execution or similar process shall be issued or levied against a substantial part of the property of Borrower or any of its Subsidiaries and such judgment, writ, or similar process shall not be released, stayed,
vacated or otherwise dismissed within thirty (30) days after issue or levy; or 
 (i) Transaction Documents. Any Transaction
Document or any material term thereof shall cease to be, or be asserted by Borrower or a Guarantor not to be, a legal, valid and binding obligation of Borrower or such Guarantor enforceable in accordance with its terms or if, after Agent has
properly filed financing statements and obtained control agreements, the Liens of Agent in the Collateral shall cease to be or shall not be valid, perfected Liens subject only to Permitted Liens or any other party to any subordination or
intercreditor agreements entered into by Lenders or Borrower shall assert that such Liens are not valid, perfected Liens or shall assert that the terms of subordination are not valid; or 

(j) Investor Abandonment; Priority of Security Interest. (i) Agent and Lenders determine in their good faith business judgment that
it is the clear intention of Borrower’s investors to not continue to fund Borrower in the amounts and timeframe necessary to enable Borrower to satisfy the Obligations as they become due and payable; or (ii) there is a material impairment
in the priority of Agent’s or Lenders’ security interest in the Collateral.. 

  
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 ARTICLE 10. AGENT’S RIGHTS AND REMEDIES 

Section 10.01 Rights of Agent upon Default. Upon the occurrence and during the existence of any Event
of Default (other than an Event of Default referred to in Section 9.01(f) and Section 9.01(g)) and at any time thereafter during the continuance of such Event of Default, Agent and the Lenders may,
by written notice to Borrower, declare all outstanding Obligations, including, without limitation, the obligation to make each payment to be made under each subsection of Section 2.02, payable by Borrower hereunder to be
immediately due and payable without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the Notes to the contrary notwithstanding. Upon the occurrence or existence
of any Event of Default described in Section 9.01(f) and Section 9.01(g), immediately and without notice, all outstanding Obligations, including, without limitation, the noncancelable obligation to
make each payment to be made under each subsection of Section 2.02, payable by Borrower hereunder shall automatically become immediately due and payable, without presentment, demand, protest or any other notice of any kind,
all of which are hereby expressly waived, anything contained herein or in the Notes to the contrary notwithstanding. 

Section 10.02 Rights Regarding Collateral. Borrower agrees that when any Event of Default has occurred
and is continuing, Lenders or Agent, on behalf of Lenders, shall have the rights, options, duties and remedies of a secured party as permitted by law and, in addition to and without limiting the foregoing, Lenders or Agent may, at the election of
Lenders, exercise any one or more or all, and in any order, of the remedies herein set forth, including the following: (i) Agent or Lenders, personally or by agents or attorneys, shall have the right (subject to compliance with any applicable
mandatory legal requirements) to require Borrower to assemble the Collateral and make it available to Agent at a place to be designated by Agent or to take immediate possession of the Collateral, or any portion thereof, and for that purpose may
pursue the same wherever it may be found, and may enter any premises of Borrower, with or without notice, demand, process of law or legal procedure, to the extent permitted by applicable law, and search for, take possession of, remove, keep and
store the same, or use and operate or lease the same until sold; (ii) Agent or Lenders may, if at the time such action may be lawful and always subject to compliance with any mandatory legal requirements, either with or without taking
possession and either before or after taking possession, without instituting any legal proceedings whatsoever, having first given notice of such sale by registered or certified mail to Borrower once at least ten (10) days prior to the date of
such sale, and having first given any other notice which may be required by law, sell and dispose of the Collateral, or any part thereof, at a private sale or at public auction, to the highest bidder, in one lot as an entirety or in separate lots,
and either for cash or on credit and on such terms as Lenders may determine, and at any place (whether or not it be the location of the Collateral or any part thereof) designated in the notice referred to above; and (iii) Agent or Lenders may
proceed to protect and enforce this Agreement and the other Transaction Documents by suit or suits or proceedings in equity, at law or in bankruptcy, and whether for the specific performance of any covenant or agreement herein contained or in
execution or aid of any power herein granted; or for foreclosure hereunder, or for the appointment of a receiver or receivers for any real property security or any part thereof, or for the recovery of judgment for the Obligations or for the
enforcement of any other proper, legal or equitable remedy available under applicable law. Agent and its agents and any purchasers at or after foreclosure are hereby granted a non-excIusive, irrevocable,
perpetual, fully paid, royalty-free license or other right, solely pursuant to the provisions of this Section 10.02, to use, without charge, Borrower’s Intellectual Property that remains embedded or contained in the
Collateral, including without limitation, 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, now or at any time hereafter owned
or acquired by Borrower or in which Borrower now or at any time hereafter has any rights; provided, however, such license shall only be exercisable in connection with the disposition of Collateral upon Agent’s or Lenders’ exercise
of their remedies hereunder. To the extent permitted by applicable law, any such sale or sales may be adjourned from time to time by announcement at the time and place appointed for such sale or sales, or for any such adjourned sale or sales,
without further published notice, and Agent, Lenders, or the holder or holders of the Note, or of any interest therein, may bid and become the purchaser at any such sale. With respect to any of Borrower’s owned premises, Borrower hereby grants
Agent a license to enter into possession of such premises and to occupy the same, without charge, for up to one hundred twenty (120) days in order to exercise any of Agent’s or Lenders’ rights or remedies provided herein, at law, in
equity, or otherwise. 

  
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 Section 10.03 Agent’s Liability for Collateral. So
long as Agent and the Lenders comply with their obligations, if any, under the Code, neither Agent nor Lenders shall in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; (ii) any loss or damage thereto
occurring or arising in any manner of fashion from any cause other than Agent’s or such Lender’s gross negligence or willful misconduct; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier,
warehouseman, bailee, forwarding agency, or other Person whomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. 

Section 10.04 Application of Collateral Proceeds. The proceeds of the Collateral, or any part thereof,
resulting from Agent’s or Lenders’ exercise of remedies hereunder (as well as any other amounts of any kind held by Agent at the time of, or received by Agent after, the occurrence of an Event of Default hereunder) shall be paid to and
applied as follows: (i) First, to the payment of reasonable costs and expenses, including all amounts expended to preserve the value of the Collateral, of foreclosure or suit, if any, and of such sale and the exercise of any other rights or
remedies, and of all proper fees, expenses, liability and advances, including reasonable legal expenses and attorneys’ fees, incurred or made hereunder by Agent or Lenders; (ii) Second, to the payment to Lenders pro rata in accordance with
the Loan Percentages of the amounts then owing or unpaid on the Notes, including each payment to be made under Section 2.02(b) and Section 2.02(c) of this Agreement; (iii) Third, to the
payment of other amounts then payable to Agent or Lenders under any of the Transaction Documents; and (iv) Fourth, to the payment of the surplus, if any, to Borrower, its successors and assigns, or to whomsoever may be lawfully entitled to
receive the same. In the event that, notwithstanding the foregoing, proceeds of the Collateral shall be received by a Lender in excess of its ratable share, then the portion of such payment or distribution in excess of such Lender’s ratable
share shall be received by such Lender in trust for and shall be promptly paid over to the other Lenders ratably for application to the payments of amounts due to the other Lenders. 

Section 10.05 Reinstatement of Rights. If Agent and Lenders shall have proceeded to enforce any right
under this Agreement or any other Transaction Document by foreclosure, sale, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely, then and in every such case
(unless otherwise ordered by a court of competent jurisdiction), Agent and Lenders shall be restored to their former position and their rights hereunder with respect to the property subject to the security interest created under this Agreement shall
be reinstated. 
 Section 10.06 Agency for Perfection. Each Lender hereby appoints Agent and each
other Lender as agent and bailee for the purpose of perfecting the security interests in and liens upon the Collateral in assets which, in accordance with the Code, can be perfected only by possession or control (or where the security interest of a
secured party with possession or control has priority over the security interest of another secured party) and Agent and each Lender hereby acknowledges that it holds possession or control of any such Collateral for the benefit of the Agent as
secured party. Should any Lender obtain possession or control of any such Collateral, such Lender shall notify the Agent thereof, and, promptly upon the Agent’s request therefor shall deliver possession or control of such Collateral to the
Agent or in accordance with the Agent’s instructions. Borrower by its execution and delivery of this Agreement hereby consents to the foregoing. 

ARTICLE 11. RESERVED. 
 ARTICLE 12. MISCELLANEOUS.

 Section 12.01 Modifications. Amendments or Waivers. The provisions of any Transaction Document
may be modified, amended or waived only by a written instrument signed by the parties hereto. 

  
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 Section 12.02 No Implied Waivers; Cumulative Remedies; Writing
Required. No delay or failure of Agent or any Lender in exercising any right, power or remedy hereunder shall affect or operate as a waiver thereof; nor shall any single or partial exercise thereof or any abandonment or discontinuance of
steps to enforce such a right, power or remedy preclude any further exercise thereof or of any other right, power or remedy. The rights and remedies hereunder of Agent and the Lenders are cumulative and not exclusive of any rights or remedies that
they would otherwise have. Any waiver, permit, consent or approval of any kind or character on the part of Agent or any Lender of any breach or default under this Agreement or any such waiver of any provision or condition of this Agreement must be
in writing and shall be effective only in the specified instance and to the extent specifically set forth in such writing. 

Section 12.03 Reimbursement. Borrower shall reimburse Agent and the Lenders for all costs and
expenses, including without limitation, reasonable attorneys’ fees and disbursements expended or incurred in any arbitration, mediation, judicial reference, legal action or otherwise in connection with (i) the negotiation, documentation,
execution and delivery of this Agreement, the other Transaction Documents and the transactions contemplated hereby, (ii) the amendment and enforcement of the Transaction Documents, including without limitation during any workout, attempted
workout and/or in connection with the rendering of legal advice as to Agent’s or Lenders’ rights, remedies and obligations under the Transaction Documents, (iii) enforcing the Transaction Documents or collecting any sum which becomes
due Agent or Lender under any Transaction Document, (iv) any proceeding for declaratory relief, any counterclaim to any proceeding, or any appeal, (v) the protection, preservation or enforcement of any rights of Agent or Lenders,
(vi) Agent’s or Lenders’ costs and expenses of reviewing Borrower’s external communications in connection with the transactions contemplated hereby or (vii) Agent’s or Lenders’ travel expenses and other reasonable
expenses incurred in performing due diligence. For the purpose of this section, attorneys’ fees shall include, without limitation, fees incurred in connection with the following: (1) contempt proceedings; (2) discovery, (3) any
motion, proceeding or other activity of any kind in connection with an insolvency proceeding; (4) garnishment, levy, and debtor and third party examinations; and (5) post-judgment motions and proceedings of any kind, including without
limitation, any activity taken to collect or enforce any judgment. All of the foregoing costs and expenses shall be payable by Borrower upon demand by Agent, and if not paid within thirty (30) days of presentation of invoices shall bear
interest at the highest applicable Default Rate. 
 Section 12.04 Indemnification. Borrower shall
indemnify, reimburse and hold Agent and the Lenders and their permitted successors and assigns, and each of Agent’s, Lenders’ or their permitted successors and assigns’ respective agents, officers, directors, shareholders, members,
servants and employees harmless from and against all liabilities, losses, damages, actions, suits, demands, claims of any kind and nature (including claims relating to environmental discharge, cleanup or compliance), all costs and expenses
whatsoever to the extent they may be incurred or suffered by such indemnified party in connection therewith (including reasonable attorneys’ fees and expenses), fines, penalties (and other charges of applicable governmental authorities),
licensing fees relating to any item of Collateral, damage to or loss of use of property (including consequential or special damages to third parties or damages to Borrower’s property), or bodily injury to or death of any person (including any
agent or employee of Borrower) (each, a “Claim”), directly or indirectly relating to or arising out of the use of the proceeds of the Loan, including the falsity of any representation or warranty of Borrower or
Borrower’s failure to comply with the terms of this Agreement or any other Transaction Document; provided, however, that Borrower shall not indemnify Agent or any Lender for any liability incurred by such Person as a result of that
Person’s gross negligence or willful misconduct. Such indemnities shall continue in full force and effect, notwithstanding the expiration or termination of this Agreement. Upon Agent’s written demand, Borrower shall assume and diligently
conduct, at its sole cost and expense, the entire defense of Agent or any Lender and its permitted assigns, each of Agent’s, Lenders’ or their permitted assigns’ members, and each of their respective successors, assigns, agents,
officers, directors, shareholders, members, servants, agents and employees against any indemnified Claim described in this Section 12.04. Borrower shall not settle or compromise any Claim against or involving Agent or any
Lender without first obtaining such Person’s written consent thereto, which consent shall not be unreasonably withheld. The obligations in this Section 12.04 shall survive payment of all other Obligations until all
applicable statute of limitation periods with respect to actions that may be brought against Agent or Lenders have run. All amounts owing under this Section 12.04 shall be paid within thirty (30) days after written
demand. 

  
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 Section 12.05 Limitation on Damages. NOTWITHSTANDING
ANYTHING TO THE CONTRARY CONTAINED IN THIS LOAN AGREEMENT OR ANYWHERE ELSE, BORROWER AGREES THAT IT SHALL NOT SEEK FROM AGENT OR ANY LENDER UNDER ANY THEORY OF LIABILITY (INCLUDING ANY THEORY IN TORTS), ANY SPECIAL, INDIRECT, CONSEQUENTIAL OR
PUNITIVE DAMAGES. 
 Section 12.06 Notices. All notices and other communications given to or made
upon any party hereto in connection with this Agreement shall be in writing and shall be delivered by certified mail, postage prepaid, return receipt requested, by a nationally recognized overnight courier, by facsimile, by electronic mail or other
means of electronic communication or personally delivered to the respective parties, as follows: 
 Borrower: 

ADAPTIVE INSIGHTS, INC. 

Attention: Chief Financial Officer 

Agent: 
 SILVER LAKE WATERMAN
FUND, L.P. 
 Attention: Contract Administration 

or in accordance with any subsequent written direction from either party to the other. All such notices and other communications shall be effective,
(i) in the case of delivery by messenger or overnight delivery service, when left at the appropriate address; (ii) in the case of facsimile transmission, upon the sender’s receipt of electronic confirmation of receipt; (iii) in
the case of electronic mail, upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other
written acknowledgement), (iv) in the case of notices or communications posted to an Internet website, upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing
clause (iii) of notification that such notice or communication is available and identifying the website address therefor; and (v) in all other cases, upon actual receipt however evidenced. 

Section 12.07 Lenders and Allocations of Loans. Notwithstanding anything herein to the contrary, each
Lender severally commits to make such Lender’s Loan Percentage of each Loan. No Lender shall have liability for the commitment to make loans of any other Lender. Borrower agrees that by notice to Borrower, Agent or a Lender may reallocate the
Loan Percentages among the Lenders or among the Lenders and other investment funds affiliated with Agent or a Lender. Whether or not specified in any provision of this Agreement, all references to Agent in this Agreement shall mean Agent for the
benefit of the Lenders unless the context otherwise requires. 
 Section 12.08 Severability. If any
provision of any Transaction Document is held invalid or unenforceable to any extent or in any application, the remainder of such Transaction Document and all other Transaction Documents, or the application of such provision to different Persons or
circumstances or in different jurisdictions, shall not be affected thereby. 
 Section 12.09 Reliance by
Agent and the Lenders. All covenants, agreements, representations and warranties made herein by Borrower shall be deemed to be material to and have been relied upon by Agent and the Lenders, notwithstanding investigation by Agent. 

  
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 Section 12.10 No Set-Offs
by Borrower. All sums payable by Borrower pursuant to this Agreement or any of the other Transaction Documents shall be payable without notice or demand and shall be payable without set-off or
deduction in any manner whatsoever. 
 Section 12.11 Survival. All representations, warranties,
covenants and agreements of Borrower contained herein or made in writing in connection herewith shall survive the execution and delivery of the Transaction Documents, the making of Loans hereunder, the granting of security and the issuance of the
Notes. 
 Section 12.12 Confidentiality. Agent and the Lenders agree to hold non-public information received in confidence and shall not disclose such information to third parties except to their employees, members, partners or the partners of its affiliated investment funds, their lenders,
and professional advisors to the foregoing, including attorneys and accountants, and others under a similar duty of confidentiality, and as Agent may deem necessary in its reasonable judgment to satisfy its legal obligations or to enforce
Agent’s or Lenders’ rights under any Transaction Document. Borrower acknowledges that Lenders may issue press releases, advertisements, and other promotional materials, either in print or on Lenders’ website(s), describing any
successful outcome of services provided on Borrower’s behalf. Borrower agrees that Lenders shall have the right to identify Borrower by name and use Borrower’s corporate logo in those materials, solely for marketing purposes. Borrower
agrees that, without Agent’s prior written consent, it shall not, and shall cause its affiliates not to, issue any press release, advertisement, promotional material or other public statement, in any form, which identifies the Lenders or the
Agent or otherwise makes reference to the transactions contemplated hereby. 
 Section 12.13 Choice of Law
and Venue; Jury Trial Waiver. THIS LOAN AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF CALIFORNIA, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. BORROWER, AGENT AND THE LENDERS HEREBY
SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN THE NORTHERN DISTRICT OF CALIFORNIA. BORROWER, AGENT AND THE LENDERS HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR
ARISING OUT OF ANY OF THE TRANSACTION DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. Without intending to limit the agreement by
Borrower, Agent and the Lenders to waive their respective rights to a trial by jury, if the jury trial waiver set forth in this Section 12.13 is not enforceable, then Borrower, Agent and the Lenders hereby agree that any
and all disputes or controversies of any nature arising at any time shall be decided by a reference to a private judge, mutually selected by the parties (or, if the parties cannot agree, by the Presiding Judge of a California Superior Court in any
relevant county in California) appointed in accordance with California Code of Civil Procedure § 638 (or pursuant to comparable provisions of federal law if the dispute falls within the exclusive jurisdiction of the federal courts), sitting
without a jury, in California; and the parties hereby submit to the jurisdiction of such court. The reference proceedings shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure §§ 638
through 645.1, inclusive. The private judge shall have the power, among others, to grant provisional relief, including without limitation, entering temporary restraining orders, issuing preliminary and permanent injunctions and appointing receivers.
All such proceedings shall be closed to the public and confidential and all records relating thereto shall be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief, but a judge has not been appointed at
that point pursuant to the judicial reference procedures, then such party may apply to the Santa Clara County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the same manner, as it would be
before a court under the rules of evidence applicable to judicial proceedings. The parties shall be entitled to discovery that shall be conducted in the same manner, as it would be before a court under the rules of discovery applicable to judicial
proceedings. The private judge shall oversee discovery and may enforce all discovery rules and order applicable to judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private judge shall
have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall report a statement of decision thereon pursuant to California Code of Civil Procedure § 644(a). Nothing in this paragraph shall limit the
right of any party at any time to exercise self-help remedies, foreclose against collateral, or obtain provisional remedies. The private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this
paragraph. 
  

  
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 Section 12.14 Successors and Assigns. This Agreement and
the other Transaction Documents shall be binding upon and inure to the benefit of Agent and the Lenders, all future holders of the Note(s), Borrower and their respective successors and permitted assigns, except that Borrower may not assign or
transfer its rights hereunder or thereunder or any interest herein or therein without the prior written consent of Agent. Agent or Lenders may grant a security interest or assign all or any portion of their rights hereunder and under one or more
Notes, without the consent of or notice to Borrower, including to any of its affiliated investment funds or affiliated companies or to any one or more financial institutions or funds or companies or an agent or trustee for such financial
institutions or funds or companies (an “Assignee”) and may sell to any of its affiliated investment funds or affiliated companies or to any one or more financial institutions or funds or companies or an agent or trustee for
such financial institutions or funds or companies (a “Participant”) participation interests in Agent’s or Lenders’ rights hereunder and under one or more Notes, provided, that in no event may Agent or
Lenders assign any portion of their rights hereunder to a competitor of Borrower. Agent and the Lenders may disclose the Transaction Documents and any other financial or other information relating to Borrower or any Subsidiary to any potential
Assignee or Participant, provided that such Assignee or Participant agrees to protect the confidentiality of such documents and information using the same measures that it uses to protect its own confidential information and otherwise conform to the
requirements of Section 12.12. 
 Section 12.15 Counterparts. This
Agreement may be executed in any number of counterparts and by different parties hereto on separate counterparts, each of which, when so executed and delivered, shall be an original, but all such counterparts shall together constitute one and the
same instrument. 
 Section 12.16 Further Assurances. Borrower will, at its own expense and at
Agent’s request, from time to time do, execute, acknowledge and deliver all and every further acts, deeds, conveyances, transfers and assurances, and all financing and continuation statements and similar notices, reasonably necessary or proper
for the perfection of the security interest being herein provided for in the Collateral, whether now owned or hereafter acquired. 

Section 12.17 Entire Agreement. This Agreement and each of the other Transaction Documents, taken
together, constitute and contain the entire agreement of Borrower, Agent and the Lenders and supersede any and all prior agreements, negotiations, correspondence, understandings and communications among the parties, whether written or oral,
respecting the subject matter hereof. 
 Section 12.18 Termination of Security Interest. Upon the
payment in full of all Obligations (other than inchoate indemnity obligations) and the termination of any commitment to make Loans, the security interest granted herein shall terminate and all rights to the Collateral shall revert to Borrower. Upon
Agent’s written verification to Borrower of receipt of such payment, Agent hereby authorizes Borrower to file any UCC termination statements necessary to effect such termination and Agent will return any Collateral in its possession to Borrower
and will execute and deliver to Borrower any additional documents or instruments as Borrower shall reasonably request to evidence such termination. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 27 

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

									
	 AGENT:
	 		 	 BORROWER:

			
	 SILVER LAKE WATERMAN
FUND, L.P.,
	 		 	 ADAPTIVE INSIGHTS,
INC.,

	 a Delaware limited partnership
	 		 	 a Delaware corporation

			
	 By: SILVER LAKE TECHNOLOGY
ASSOCIATES WATERMAN, L.L.C.,
	 		 	
	 its General Partner
	 		 	
					
	By:	 	/s/ Shawn K. O’Neill	 		 	By:	 	/s/ James Johnson
	Name: Shawn K. O’Neill	 		 	Name: James Johnson
	Title: Managing Director	 		 	Title: Chief Financial Officer

  

									
	 LENDERS:
	 		 		 	
				
	 SILVER LAKE WATERMAN
FUND, L.P.,
 a Delaware limited partnership
	 		 		 	
				
	
By: SILVER LAKE TECHNOLOGY 
ASSOCIATES WATERMAN,
L.L.C.,
	 		 		 	
	 its General Partner
	 		 		 	

									
					
	By:	 	 /s/ Shawn K. O’Neill
	 		 		 	
	 Name: Shawn K. O’Neill
	 		 		 	
	 Title: Managing Director
	 		 		 	

			
	Schedule 1	  	Lenders
	Schedule 2	  	Account Information
		
	Exhibit A -	  	Form Secured Promissory Note
	Exhibit B -	  	Collateral Description
	Exhibit C -	  	Form Opinion of Counsel
	Exhibit D -	  	Form Compliance Certificate
	Exhibit E -	  	Form Incumbency Certificate
	Exhibit F -	  	Form Notice of Advance Request
	Exhibit G -	  	Form Perfection and Disclosure Certificate
	Exhibit H -	  	Form Warrant
	Exhibit I -	  	Form ACH Authorization
	Exhibit J -	  	Form SBA Documents

 SCHEDULE 1 

 

					
	Lenders	  	Loan Percentage	 
	 SILVER LAKE WATERMAN FUND, L.P.
	  	 	100	% 

 SCHEDULE 2 

Account for Disbursements to Borrower: 
  

			
	Credit:	  	ADAPTIVE INSIGHTS, INC.
	Bank Name:	  	Silicon Valley Bank
	Bank Address:	  	
	Account Number:	  	
	ABA Routing Number:	  	
	Reference:	  	SILVER LAKE WATERMAN FUND LOAN

 All regularly scheduled payments due to Agent and Lenders shall be effected by automatic debit of the appropriate funds from
Borrower’s primary operating account set forth below: 
  

			
	Account Holder:	  	ADAPTIVE INSIGHTS, INC.
	Bank Name:	  	Silicon Valley Bank
	Bank Address:	  	
	Account Number:	  	
	ABA Routing Number:	  	

 All payments to Agent and Lenders other than regularly scheduled payments may be made via wire transfer as follows: 

 

			
	Wire Transfer Payment	  	
		
	Credit:	  	SILVER LAKE WATERMAN FUND, L.P.
	Bank Name:	  	Silicon Valley Bank
	Bank Address:	  	
	Account Number:	  	
	ABA Routing Number:	  	
	Reference:	  	

 EXHIBIT A 

SECURED PROMISSORY NOTE 

 

	 $                      
	
Dated:                 , 20   
 

 FOR VALUE RECEIVED, the undersigned, ADAPTIVE INSIGHTS,
INC. (“Borrower”), a Delaware corporation, HEREBY PROMISES TO PAY to the order of SILVER LAKE WATERMAN
FUND, L.P. (“Lender”) the principal amount of                 Million Dollars
($            ), plus all other payments arising under Section 2.02 (excluding the portion of the payments representing the principal amounts) pursuant to that
certain Loan and Security Agreement, dated as of                      (as amended, restated or otherwise modified from time to time, the
“Loan Agreement”), by and among Silver Lake Waterman Fund, L.P., as agent for the lenders identified on SCHEDULE 1 thereto, the lenders identified on SCHEDULE 1 thereto and
Borrower, with respect to a Loan made by Lender on the date hereof pursuant to the Loan Agreement, on the dates and in the amounts set forth in the Loan Agreement. Capitalized terms used herein and not otherwise defined have the respective meanings
set forth in the Loan Agreement. 
 The Cash Interest rate per annum for the Loan evidenced by this Note determined in accordance with the
Loan Agreement is 6.5%. The PIK Interest Rate per annum for the Loan evidenced by this Note determined in accordance with the Loan Agreement is 5.5%. All payments due under this Note or under the Loan Agreement shall be payable as and when specified
in the Loan Agreement. 
 This Note is one of the notes referred to in, and is entitled to the benefits of, the Loan Agreement. This Note
and the obligation of Borrower to repay the unpaid principal amount of the Loan, interest on the Loan, premium, if any, and all other amounts due Agent and Lenders under the Loan Agreement is secured under the Loan Agreement. 

Presentment for payment, demand, notice of protest and all other demands and notices of any kind in connection with the execution, delivery,
performance and enforcement of this Note are hereby waived. 
 Borrower shall pay all reasonable fees and expenses, including, without
limitation, reasonable attorneys’ fees and costs, incurred by Agent or any Lender in the enforcement or attempt to enforce any of Borrower’s obligations hereunder not performed when due. This Note shall be governed by, and construed and
interpreted in accordance with, the laws of the State of California. 
 IN WITNESS
WHEREOF, Borrower has caused this Note to be duly executed by one of its officers thereunto duly authorized on the date hereof. 

 

			
	 ADAPTIVE INSIGHTS,
INC.

	 a Delaware
corporation

 
			
		
	By:	 	  

 
			
		
	Name:	 	  

 
			
		
	Title:	 	  

 EXHIBIT B 

COLLATERAL DESCRIPTION 

The Collateral consists of all right, title and interest in and to the following property, whether now existing or hereafter acquired: 

All accounts, chattel paper, commercial tort claims listed on any Attachment I hereto, deposit accounts and cash, documents, equipment, general intangibles,
goods, instruments, inventory, investment property, letter-of-credit rights, and, to the extent not otherwise included, all proceeds and products of any and all of the
foregoing. Each of the foregoing terms defined in the Uniform Commercial Code of the State of California shall have the respective meanings given to such terms therein. 

Notwithstanding the foregoing, the Collateral does not include more than 65% of the presently existing and hereafter arising issued and outstanding shares of
capital stock owned by Borrower of any Foreign Subsidiary, which shares entitle the holder thereof to vote for directors or any other matter. 

 ATTACHMENT 1 

COMMERCIAL TORT CLAIMS 

None 

 EXHIBIT C 

OPINIONS 

1. Borrower is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and is duly
qualified to do business and in good standing in the State of California. 
 2. Borrower has the requisite corporate power and authority to
execute, deliver and perform the Transaction Documents and to issue the Warrant. All action on the part of Borrower, its directors and its shareholders necessary for the authorization, execution, delivery and performance of the Transaction
Documents, has been taken. The Transaction Documents have been duly executed and delivered by an authorized officer of Borrower. 
 3. The
execution, delivery and performance of the Transaction Documents do not conflict with or violate any provision of Borrower’s Certificate of Incorporation or Bylaws or of applicable law and, to the best of our knowledge, do not conflict with or
constitute a default under any provision of any judgment, writ, decree, order or material agreement, indenture, or instrument to which Borrower is a party or by which it is bound. 

4. The Transaction Documents constitute legal, valid and binding obligations of Borrower, enforceable in accordance with their respective
terms. Except for                     , to our knowledge, no filing need be made with any governmental authority with respect to the Transaction
Documents. 
 5. The Common Stock issuable upon exercise of the Warrant have been duly authorized and reserved for issuance upon such
exercise, and when issued in accordance with the terms of the Warrant, will be duly authorized, validly issued, fully paid and non-assessable. 

 EXHIBIT D 

FORM OF COMPLIANCE CERTIFICATE 

The undersigned, to induce SILVER LAKE WATERMAN FUND, L.P. (“Agent”) and the Lenders to extend or continue
financial accommodations to ADAPTIVE INSIGHTS, INC., a Delaware corporation (the “Borrower”) pursuant to the terms of that certain Loan and Security Agreement dated
                , 20     (the “Loan Agreement”; capitalized terms used herein and not otherwise defined have the respective
meanings set forth in the Loan Agreement), hereby certifies, on behalf of Borrower, that on the date hereof: 
 1. I am a duly elected and
authorized officer of Borrower. 
 2. The information submitted herewith is in fact what it purports to be, and all financial statements have
been prepared in accordance with GAAP consistently applied from one period to the next, except, in the case of unaudited financial statements, for the absence of footnotes and subject to year-end adjustments.

 3. The information delivered herewith is true, correct and complete. 

4. Borrower is currently able to meet its obligations as they come due. 

5. All representations and warranties in the Loan Agreement are true and correct in all material respects on this date except as noted below;
provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date. 

6. I understand that Agent and Lenders are relying upon the truthfulness, accuracy and completeness hereof in connection with the Loan
Agreement. 
 7. I will advise you if it comes to my attention that, as of the date hereof, the information submitted herewith was not in
fact true, correct and complete. 
 Please indicate compliance status by circling Yes/No under the
“Complies”/”Applicable” column. 
  

					
	 Reporting Covenants
	  	 Required
	  	 Complies

	Monthly Financial Statements and a Compliance Certificate (Section 6.01(a))	  	Within 30 days after the end of each month	  	Yes   No
			
	Quarterly Financial Statements and a Compliance Certificate (Section 6.01(b))	  	Within 30 days after the end of each fiscal quarter	  	Yes   No
			
	Annual financial statements (CPA audited) (Section 6.01(c))	  	Annually, within 90 days after the end of each fiscal year	  	Yes   No
			
	Board approved operating plan and financial projections and for the next fiscal year (Section 6.01(d))	  	30 days prior to the start of each fiscal year	  	Yes   No
			
	409(A) valuation reports (Section 6.01(e))	  	Within 30 days after completion	  	Yes   No
			
	All board packages delivered to board of directors (Section 6.02(a))	  	When delivered to board	  	Yes   No
			
	Detailed capitalization table by round and investor (Section 6.02(b))	  	Quarterly	  	Yes   No
			
	 	  	 Description
	  	 Applicable

	Legal action > $100,000 (Section 6.02(c))	  	Notify promptly	  	Yes   No
			
	Default, Event of Default, Event of Loss or Material Adverse Effect (Section 6.02(d))	  	Notify promptly	  	Yes   No
			
	Formation of any Subsidiary (Section 6.02(e))	  	Notify promptly	  	Yes   No

							
	 Negative Covenants
	  	 Required
	  	 Actual
	  	 Complies

	Permitted Transfers general basket (Section 7.02(iv))	  	<$100,000	  	$                    	  	Yes   No
				
	Permitted distributions for stock repurchases
(Section 7.04(ii)(2))	  	<$100,000	  	$                    	  	Yes   No
				
	Permitted Indebtedness pursuant to SVB Loan Agreement (revolv advances) (Section 7.05)	  	<$30,000,000 (Advances and Bank Services)	  	$                    	  	Yes   No
				
		  	<$2,000,000 (Bank Services)	  	$                    	  	Yes   No
				
	Permitted Indebtedness pursuant to SVB Loan Agreement (equipment loans) (Section 7.05)	  	<$1,400,000 (decreases as principal repaid)	  	$                    	  	Yes   No
				
	Permitted Indebtedness for equipment leases (Section 7.05)	  	<$100,000	  	$                    	  	Yes   No
				
	Permitted Indebtedness general basket (Section 7.05)	  	<$100,000	  	$                    	  	Yes   No
				
	Permitted Investments for employee loans (Section 7.06)	  	<$50,000	  	$                    	  	Yes   No
				
	Permitted Investments to Subsidiaries (Section 7.06)	  	<$500,000 / month	  	$                    	  	Yes   No
				
	Permitted Investments general basket (Section 7.06)	  	<$100,000	  	$                    	  	Yes   No

 IN WITNESS WHEREOF, the undersigned has
executed this Compliance Certificate on                     , 20    . 

 

			
	 ADAPTIVE INSIGHTS, INC.

		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 EXHIBIT E 

INCUMBENCY CERTIFICATE 

The
undersigned,                        , hereby certifies that: 

1. He/She is the duly elected and acting
                    of                     , a
Delaware corporation (the “Company”). 
 2. That on the date hereof, each person listed below holds the office in the
Company indicated opposite his or her name and that the signature appearing thereon is the genuine signature of each such person: 
  

					
	NAME	  	OFFICE	  	SIGNATURE
			
	  
	  	  
	  	  

			
	  
	  	  
	  	  

			
	  
	  	  
	  	  

3. Attached hereto as EXHIBIT A is a true and correct copy of the Certificate of Incorporation of the Company, as
amended, as in effect as of the date hereof. 
 4. Attached hereto as EXHIBIT B is a true and correct copy of the
Bylaws of the Company, as amended, as in effect as of the date hereof. 
 5. Attached hereto as EXHIBIT C is a copy of
the resolutions of the Board of Directors of the Company authorizing and approving the Company’s execution, delivery and performance of a loan facility with Silver Lake Waterman Fund, L.P. 

IN WITNESS WHEREOF, the undersigned has executed this Incumbency
Certificate on                    , 20    . 

			
		
	By:	 	  

 
			
		
	Name:	 	  

 
			
		
	Title:	 	  

 I,
the                     of the Company, do hereby certify that
                    is the duly qualified, elected and acting
                    of the Company and that the above signature is his or her genuine signature. 

IN WITNESS WHEREOF, the undersigned has executed this Incumbency
Certificate on                     , 20    . 

			
		
	By:	 	  

 
			
		
	Name:	 	  

 
			
		
	Title:	 	  

 EXHIBIT F 

NOTICE OF ADVANCE REQUEST 

[Date] 
 Silver Lake Waterman Fund, L.P., as Agent 

Attn.: Contract Administration 
 Contract Administration: 

Reference is made to the Loan and Security Agreement dated as of
                    , 20     (as it has been and may be amended from time to time, the “Loan Agreement,”
initially capitalized terms used herein as defined therein), among SILVER LAKE WATERMAN FUND, L.P., as Agent for the Lenders identified on Schedule 1 thereto, the Lenders, and ADAPTIVE INSIGHTS, INC. (the
“Borrower”) 
 The undersigned is the
                     of Borrower, and hereby irrevocably requests a Loan under the Loan Agreement and in that connection certifies as follows: 

1. The amount of the proposed Loan is
$                    , and will be advanced on
                    . 
 2. As of this
date, no Event of Default, or event which with notice or the passage of time would constitute an Event of Default, has occurred and is continuing, or will result from the making of the proposed Loan, and the representations and warranties of
Borrower contained in Article 5 of the Loan Agreement are true and correct in all material respects. 
 3. No event that could
reasonably be expected to have a material adverse effect on the ability of Borrower to fulfill its obligations under the Loan Agreement has occurred since the date of the most recent financial statements, submitted to you by Borrower. 

Borrower agrees to notify you promptly before the funding of the Loan if any of the matters to which I have certified above shall not be true
and correct on the Funding Date. 

			
	
	 Very truly yours,

	
	 ADAPTIVE INSIGHTS, INC.

					
			
	       	 	By:	 	  

					
			
	       	 	Name:	 	  

					
			
	       	 	Title:	 	  

 EXHIBIT G 

FORM OF PERFECTION AND DISCLOSURE CERTIFICATE

 EXHIBIT H 

FORM OF WARRANT 

 EXHIBIT I 

AUTHORIZATION FOR AUTOMATIC PAYMENT 

The undersigned ADAPTIVE INSIGHTS, INC. (“Borrower”) authorizes SILVER LAKE
WATERMAN FUND, L.P., as Agent, any and all affiliated funds (collectively, “Lender”) and the bank / financial institution (“Bank”) named
below to initiate variable debit and/or credit entries to Borrower’s deposit, checking or savings accounts as designated below and to cause funds transfers to an account of Lender as payment of any and all amounts due under the Loan and
Security Agreement between Borrower, Agent and the lenders dated                      (the “Loan Agreement”). 

1. Lender is hereby authorized to initiate variable debit and/or credit transactions and resulting funds transfers in Borrower’s designated
accounts with respect to amounts calculated by Lender to be due and owing to Lender by Borrower periodically under the Loan Agreement. Borrower consents to all such debit and/or credit transactions and resulting funds transfers and hereby authorizes
Lender to take all such actions as may be required by Bank with respect to such transactions. Borrower acknowledges and agrees that such credit and/or debit entries may be made in amounts due under the Loan Agreement in order to cause timely
payments as required by the terms of the Loan Agreement. 
 2. Borrower hereby authorizes Lender to release to Bank all information concerning
Borrower that may be necessary or desirable for Bank to investigate or recover any erroneous funds transfers that may occur. 
 3. Borrower
acknowledges and agrees that all such debit and/or credit transactions and funds transfers are intended to be made through an Automated Clearing House system and in compliance with the NACHA Rules and in compliance with Bank’s security
procedures. 
 4. Borrower represents and warrants that the account information set forth below is accurate and complete and that each of the
account(s) set forth below is a business account maintained in Borrower’s name and for Borrower’s account. 
 This Consent shall be effective as
of                     , 20     and shall remain in effect until the Loan Agreement has been terminated. Any cancellation by
Borrower of this consent shall (i) be made in writing and (ii) delivered to Bank and Lender in such time as to afford Bank and Lender a reasonable opportunity to act on said cancellation. 

 

			
	        	 	 Silicon Valley Bank

		 	 (Name of Borrower’s Bank)

		
		 	  

		 	 (Address of
Bank)                    (City)                   
          (State)                             (Zip
Code)

		
		 	
Bank Routing Number              
                                         
                                         
                                         
                                 

		
		 	Account Number:
                                         
                                         
              (checking / deposit / savings) (circle one)

Copy of a voided check is attached to this form 

			
	
	 ADAPTIVE INSIGHTS, INC.

					
			
	        	 	By:	 	  

	        	 	Name:	 	  

	        	 	Title:	 	  

 EXHIBIT J 

FORM OF SBA DOCUMENTS 

 AMENDMENT NO. 01 

This AMENDMENT NO. 01 this (“Amendment 01”) is entered into as of March 6, 2018 by SILVER LAKE WATERMAN FUND,
L.P., a Delaware limited partnership, as Agent and a Lender, by SILVER LAKE WATERMAN FUND II, L.P., a Delaware limited partnership (“SLW Fund II”), and ADAPTIVE INSIGHTS, INC., a Delaware corporation
(“Borrower”) with reference to the following: 
 RECITALS 

WHEREAS, Borrower and Silver Lake Waterman Fund, L.P., as Agent and a Lender, previously entered into that certain Loan and Security Agreement
dated as of June 2, 2017 (as the same may be amended, restated, supplemented and modified from time to time, the “Loan Agreement”; all initially capitalized terms not otherwise defined herein shall have the meanings
given to such terms in the Loan Agreement); and 
 WHEREAS, Borrower, Agent, Silver Lake Waterman Fund, L.P. and SLW Fund II wish to amend
the Loan Agreement to, among other things, provide an additional loan to Borrower and add SLW Fund II as a “Lender”. 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, the parties hereby agree to modify the Loan
Agreement and to perform such other covenants and conditions as follows:f 
 1. Article 1 of the Loan Agreement is hereby amended by
adding or amending and restating the following definitions in appropriate alphabetical order: 
 ““Amendment
01” shall mean that certain Amendment No. 01, dated as of March 6, 2018, by and among Agent, the lenders party thereto and Borrower.” 

““SLW Fund II” shall mean Silver Lake Waterman Fund II, L.P., a Delaware limited partnership.” 

2. Section 4.01 (c) is hereby amended and restated in its entirety as follows: 

“(c) Condition to Funding Loans under Additional Commitment. Agent shall have received, in form and substance satisfactory to Agent
and the Lenders: 
 (i) Lenders’ agreement in writing to any Additional Commitment (an “Agreement to Additional
Loans”), which agreement may be given or withheld in the sole discretion of Lenders. 
 (ii) Amendment 01, duly executed by
Borrower. 
 (iii) Amendment No. 01 to Warrant dated June 2, 2017, in substantially similar form to Exhibit H-1 hereto. 
 (iv) The Warrants to be issued to the designees of the Lenders in forms provided by
Agent and agreed to by Borrower, duly executed by Borrower, in substantially similar form as Exhibit H-2 hereto. 

(v) An updated Perfection and Disclosure Certificate, in substantially similar form as Exhibit
G-1 hereto. 
 (vi) The SBA Documents for SLW Fund II. 

(vii) The Commitment Fee specified in Section 2.04(d). 

  
 1. 

 (viii) A duly executed Notice of Advance Request with respect to the Additional Loan in
substantially similar form as Exhibit F of the Loan Agreement. 
 (ix) Copies, certified by the Secretary or Assistant Secretary of
Borrower, of: (A) the Certificate of Incorporation and Bylaws of Borrower (as amended to the date of this Agreement), (B) the resolutions adopted by Borrower’s board of directors authorizing the transaction and the documents being executed
in connection with Amendment 01, and (C) the incumbency of the officers executing this Amendment 01 and the other Transaction Documents on behalf of Borrower. 

(x) All other documents as Agent shall have reasonably requested.” 

3. SLW Fund II shall be a “Lender” under the Loan Agreement and shall have all the rights and obligations of a Lender under
the Loan Agreement. SCHEDULE 1 to the Loan Agreement is hereby amended and restated in its entirety with the Schedule 1 attached hereto as Exhibit 1. 

4. A new SCHEDULE H-1 is hereby added to the Loan Agreement in the form attached hereto
as Exhibit 2. 
 5. A new SCHEDULE H-2 is hereby added to the Loan Agreement in
the form attached hereto as Exhibit 3. 
 6. Borrower represents and warrants that the representations and warranties
contained in the Loan Agreement are true and correct as of the date of this Amendment 01 (except for such representations and warranties referring to another date, which representations and warranties are true and correct as of such date), and that,
upon execution and delivery of this Amendment 01, no Event of Default has occurred and is continuing. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment 01 shall not operate as a waiver of, or as an
amendment of, any right, power, or remedy of Lenders under the Loan Agreement, as in effect prior to the date hereof. Borrower ratify and reaffirm the continuing effectiveness of all agreements entered into in connection with the Loan Agreement.

 7. Except as expressly amended hereby, the Transaction Documents remain unmodified and unchanged and ratified by Borrower as
though fully set forth herein. 
 [Remained of Page is intentionally blank] 

  
 2. 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment 01 as of the date above. 

AGENT: 
 SILVER LAKE WATERMAN FUND, L.P. 

By: Silver Lake Technology Associates 
 Waterman, L.L.C, its
General Partner 
  

			
	By: 	 	/s/ Shawn K. O’Neill

			
	Name: 	 	Shawn K. O’Neill

			
	Title: 	 	Managing Director

 LENDERS: 
  

					
	SILVER LAKE WATERMAN FUND, L.P.	 		 	SILVER LAKE WATERMAN FUND II, L.P.
			
	 By: Silver Lake Technology Associates

Waterman, L.L.C, its General Partner
	 		 	 By: Silver Lake Technology Associates

Waterman, L.L.C, its General Partner

 

									
	By:	 	/s/ Shawn K. O’Neill	 		 	By: 	 	/s/ Shawn K. O’Neill
	Name: 	 	Shawn K. O’Neill	 		 	Name: 	 	Shawn K. O’Neill
	Title: 	 	Managing Director	 		 	Title: 	 	Managing Director

 BORROWER: 
 ADAPTIVE
INSIGHTS, INC. 
  

			
	By:	 	/s/ James Johnson
	Name:	 	James Johnson
	Title:	 	Chief Financial Officer

 [Signature Page to Amendment 01] 

  
 3. 

 Exhibit 1 

SCHEDULE 1 
 INITIAL
LOAN 
  

					
	 Lenders
	  	Loan Percentage	 
	 SILVER LAKE WATERMAN FUND, L.P.
	  	 	100	% 

 ADDITIONAL LOAN 
  

					
	 Lenders
	  	Loan Percentage	 
	 SILVER LAKE WATERMAN FUND, L.P.
	  	 	33	% 
	 SILVER LAKE WATERMAN FUND II, L.P.
	  	 	67	% 

  
 4. 

 Exhibit H-1 

AMENDMENT NO. 01 
 This
AMENDMENT NO. 01 this (“Amendment 01”) is entered into as of March 6, 2018 by SILVER LAKE WATERMAN FUND, L.P., a Delaware limited partnership (“Holder”), and ADAPTIVE INSIGHTS, INC.,
a Delaware corporation (“Company”), with reference to the following: 
 RECITALS 

WHEREAS, Company and Holder, previously entered into that certain Warrant dated as of June 2, 2017, (the
“Warrant”; all initially capitalized terms not otherwise defined herein shall have the meanings given to such terms in the Warrant); and 

WHEREAS, Company and Holder wish to amend a definition in Warrant. 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, the parties hereby agree to modify the
Warrant and to perform such other covenants and conditions as follows: 
 1. Section I. Definitions. The following definitions
are deleted in their entirety and replaced with the following: 
 ““(d) Applicable Number of Shares” means
1,081,618.” 
 ““(i) Common Exercise Price” means $ 1.25.” 

Except as expressly amended hereby, the Warrant remains unmodified and unchanged and ratified by Company as though fully set forth herein.

  

									
	HOLDER:	 		 	COMPANY:
			
	SILVER LAKE WATERMAN FUND, L.P.	 		 	ADAPTIVE INSIGHTS, INC.
			
	By: Silver Lake Technology Associates	 		 	
	Waterman, L.L.C, its General Partner	 		 	By:	 	 
					
	By:	 	 	 		 	By:	 	 
	Name:	 	Shawn K. O’Neill	 		 	Name:	 	James Johnson
	Title:	 	Managing Director	 		 	Title:	 	Chief Financial Officer

  
 5. 

 Exhibit H-2 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR ANY STATE SECURITIES LAWS. NO SALE OR
DISPOSITION MAY BE EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT
OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 8 OF THIS WARRANT. 

ADAPTIVE INSIGHTS, INC. 

WARRANT 
 THIS CERTIFIES
THAT, for value received and subject to the provisions and upon the terms and conditions set forth in this Warrant, SILVER LAKE WATERMAN FUND II, L.P. and its assignees are entitled to subscribe for and purchase the Applicable Number of
Shares of Applicable Stock of ADAPTIVE INSIGHTS, INC., a Delaware corporation (the “Company”), at a price per share equal to the Exercise Price. 

1. Definitions. As used herein, capitalized terms not otherwise defined herein shall have the following respective meanings:

 (a) “Acquisition” means any transaction or series of related transactions involving (i) any
consolidation or merger of the Company with another entity (other than a merger or consolidation effected exclusively to change the Company’s domicile) or any other corporate reorganization, in which the stockholders of the Company in their
capacity as such immediately prior co such merger, consolidation or reorganization, own less than a majority of the Company’s (or the surviving or successor entity’s) outstanding voting power immediately after such merger, consolidation or
reorganization, or (ii) the sale of all or substantially all of the assets of the Company. 
 (b) “Act”
means the Securities Act of 1933, as amended. 
 (c) “Additional Loan” has the meaning given to it in the
Loan Agreement. 
 (d) “Applicable Number of Shares” means (i) 376,910. 

(e) “Applicable Stock” means (i) (A) initially the Company’s Common Stock, or (B) if a Qualified
Financing occurs (including any successive Qualified Financing), if so elected by the Holder, the Future Round Securities, provided that (1) once the Holder has made such election, such election shall be irreversible, (2) the Holder shall
become a party to and agree co be subject to and bound by the terms and provisions of voting agreements, investors’ rights agreements, right of first refusal and co-sale agreements and other similar
agreements which are entered into by the holders of such Future Round Securities, as reasonably requested by the Company, and (3) the Holder may make only one such election, which election may be made at any time during the term of this
Warrant, (ii) after the conversion of all of the outstanding shares of Future Round Securities into Common Stock, either automatically or by voce of the requisite holders thereof, the Company’s Common Stock, (iii) if Pay to Play
Provisions are applied to the securities issuable on exercise of this Warrant, the security that a holder of such securities would have received had such holder participated in the manner necessary to receive or retain the security having the rights
more favorable to the holder, or (iv) upon any conversion, exchange, reclassification or change, any security into which the securities described in clauses (i), (ii) or (iii) of this definition may be converted, exchanged, reclassified or
otherwise changed. 
 (f) “Charter” has the meaning set forth in Section 5(e) of
this Warrant. 
 (g) “Common Stock” means the Common Stock of the Company. 

  
 6. 

 (h) “Common Stock Equivalents” means, (i) with respect to any
Convertible Security, the number of shares of Common Stock that would result from full conversion, exercise or exchange of a Convertible Security in one or more steps, and (ii) with respect to a Unit, the number of shares of Common Stock
resulting after aggregating all Common Stock and Common Stock Equivalents underlying Convertible Securities which are contained within a Unit. 

(i) “Common Exercise Price” means $ 1.25. 

(j) “Convertible Security” means (i) any stock or securities directly or indirectly convertible into or
exchangeable for Common Stock, including any promissory note convertible into securities and (ii) any rights, warrants or options to subscribe for or purchase Common Stock or stock or securities directly or indirectly convertible into or
exchangeable for Common Stock. 
 (k) “Date of Grant” means March 6, 2018. 

(l) “Effective Price Per Share of Common Stock” means a price per share equal to (i) the sum of
(A) the aggregate price paid for the issuance or sale of all Convertible Securities or Units in the transaction plus (B) the aggregate exercise price payable upon the exercise of all warrants to subscribe for or purchase stock at an
exercise price below the fair market value per share of such stock (measured at the time of issuance of the warrant) that are or may become issuable in the transaction, divided by (ii) the sum of (A) the aggregate number of shares of
Common Stock and Common Stock Equivalents underlying such Securities that have been sold or issued or that may become issuable in the transaction plus (B) the number of additional shares of Common Stock or Common Stock Equivalents that become
issuable for no or nominal additional consideration in connection with the transaction in which such Convertible Securities or Units are sold due to adjustments in rates of conversion of Convertible Securities or otherwise, including extraordinary
issuances of securities to employees, directors or consultants in connection with the transaction. 
 (m) “Exercise
Price” means, as to any share of Applicable Stock, the Common Exercise Price, as it may be adjusted from time to time pursuant to Section 5; provided, however, that, notwithstanding the foregoing, if the
Holder elects for this Warrant to be exercisable for Future Round Securities, then the Exercise Price shall be the Future Round Price, as it may be adjusted from time to time pursuant to Section 5. 

(n) “Fully Diluted Basis” means at any date of determination, treating all shares of Common Stock, Common Stock
Equivalents and any reserved but unissued options to purchase Common Stock or Common Stock Equivalents of the Company under the Company’s option pool as being outstanding as shares of Common Stock. 

(o) “Future Round Price” means the lowest Effective Price Per Share of Common Stock at which Securities are
sold in the Company’s applicable Qualified Financing after the Date of Grant. 
 (p) “Future Round
Securities” means Securities sold in any Qualified Financing, or if such Qualified Financing is the sale of convertible promissory notes, the Securities that would be issued upon conversion of such promissory notes (assuming the
conversion of all outstanding convertible securities and the exercise of all outstanding options and warrants). 
 (q)
“Holder” means the initial holder of this Warrant set forth in the first paragraph of this Warrant and any other person or entity which becomes a holder of this Warrant pursuant to the terms of this Warrant. 

(r) “IPO” means the initial public offering of the Company’s Common Stock effected pursuant to a
registration statement on Form S-1 (or its successor) filed under the Act. 

  
 7. 

 (s) “Loan Agreement” means the Loan and Security Agreement, dated
as of June 2, 2017. among the Company, Silver Lake Waterman Fund, L.P., as Agent and the lenders party thereto. 
 (t)
“Marketable Securities” means shares of a publicly traded company listed on a national securities exchange, inter-dealer quotation system or
over-the-counter market that are freely tradable without restrictions, except for those of Rule 144 or 145 promulgated under the Act. 

(u) “Pay to Play Provisions” means (i) provisions that require the holder of a security to participate in
a subsequent round of equity financing or lose all or a portion of the benefit of antidilution protection applicable to a security or have such security automatically convert to common stock or another series of capital stock, or (ii) an
exchange transaction having the same or similar economic effect. 
 (v) “Qualified Financing” means, prior to
the Company’s IPO, any sales of Securities of the Company to purchasers in any financing after the Date of Grant for the principal purpose of raising capital in an aggregate gross cash proceeds amount not less than $5,000,000 in one transaction
or a series of related transactions. For the sake of clarity, the Company’s IPO shall not constitute a Qualified Financing. 

(w) “Securities” means Common Stock, Convertible Securities or Units. 

(x) “Shares” means the shares of Applicable Stock of Company issuable upon exercise of this Warrant. 

(y) “Units” means any combination of Common Stock and Convertible Securities issued by Company sold together as
a single unit. 
 2. Term. The purchase right represented by this Warrant is exercisable, in whole or in part, at any time and
from time to time from the Date of Grant through the tenth anniversary of the Date of Grant. 
 Notwithstanding the foregoing, in the event
of an Acquisition where the consideration received by holders of Applicable Stock in such Acquisition is all cash or all Marketable Securities, or a combination of cash and Marketable Securities, then this Warrant (i) to the extent the cash
consideration per share of Applicable Stock exceeds the Exercise Price, shall be deemed exercised in accordance with the provisions of Section 3(b) immediately prior to the closing of the Acquisition, or (ii) to the
extent the cash consideration per share of Applicable Stock does not exceed the Exercise Price, shall terminate. 
 3. Method of
Exercise: Payment: Issuance of New Warrant: Net Issuance. 
 (a) Subject to Section 2 hereof, the
purchase right represented by this Warrant may be exercised by the Holder, in whole or in part and from time to time, at the election of the Holder, by (a) the delivery of the notice of exercise substantially in the form attached hereto as
Exhibit A-1, duly completed and executed, at the principal office of the Company and by the payment to the Company, by certified or bank check, or by wire transfer to an account designated by the Company of an
amount equal to the then applicable Exercise Price multiplied by the number of Shares then being purchased; (b) if in connection with a registered public offering of the Company’s securities, the delivery of the notice of exercise form
attached hereto as Exhibit A-2, duly completed and executed, at the principal office of the Company together with notice of arrangements reasonably satisfactory to the Company for payment to the Company from
the proceeds of the sale of shares to be sold by the Holder in such public offering of an amount equal to the then applicable Exercise Price per share multiplied by the number of Shares then being purchased; or (c) exercise of the “net
issuance” right provided for in Section 3(b) hereof. The person or persons in whose name(s) Shares shall be registered upon exercise of this Warrant shall be deemed to have become the holder(s) of record of, and shall
be created for all purposes as the record holder(s) of, the shares represented thereby (and such shares shall be deemed to have been issued) immediately prior to the close of business on the date or dates upon which this Warrant is exercised. In the
event of any exercise of this Warrant, certificates for the shares of stock so purchased shall be delivered to the Holder as soon as possible and in any event within thirty (30) days after such exercise and, unless this Warrant has been fully

  
 8. 

 
exercised or expired, a new Warrant representing the portion of the Shares, if any, with respect to which this Warrant shall not then have been exercised shall also be issued to the Holder
(subject to delivery of the old Warrant to the Company) as soon as possible and in any event within such thirty-day period; provided, however, that at such time as the Company is subject to the
reporting requirements of the Securities Exchange Act of I 934, as amended, if requested by the Holder, the Company shall cause its transfer agent to deliver the certificate representing Shares issued upon exercise of this Warrant to, or credit the
securities account of, a broker or other person (as directed by the Holder exercising this Warrant) within the time period required to settle any trade made by the Holder after exercise of this Warrant. 

(b) Right to Convert Warrant into Stock: Net Issuance. 

(i) Right to Convert. In addition to and without limiting the rights of the Holder under the terms of this Warrant, the Holder
shall have the right to convert this Warrant or any portion thereof (the “Conversion Right”) into shares of Applicable Stock as provided in this Section 3(b) at any time or from time to time during
the term of this Warrant. Upon exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the “Converted Warrant Shares”), the Company shall deliver to the Holder (without payment
by the Holder of any exercise price or any cash or other consideration) that number of shares of fully paid and nonassessable Applicable Stock as is determined according to the following formula: 

X = B – A 
 Y

  

							
		 	 Where:
	  	 X =
	  	the number of shares of Applicable Stock that shall be issued to Holder
				
		 		  	 Y =
	  	the fair market value of one share of Applicable Stock
				
		 		  	 A =
	  	the aggregate Exercise Price of the specified number of Converted Warrant Shares immediately prior to the exercise of the Conversion Right (i.e., the number of Converted Warrant Shares multiplied by the Exercise Price)
				
		 		  	B =	  	the aggregate fair market value of the specified number of Converted Warrant Shares (i.e., the number of Converted Warrant Shares multiplied by the fair market value of one Converted Warrant Share)

 (ii) Method of Exercise. The Conversion Right may be exercised by the Holder by the delivery by
Holder of a written statement (which may be in the form of Exhibit A-1 or Exhibit A-2 hereto) specifying that the Holder thereby intends to exercise the Conversion Right
and indicating the number of shares subject to this Warrant which are being surrendered (referred to in Section 3(b)(i) hereof as the Convened Warrant Shares) in exercise of the Conversion Right. Such conversion shall be
effective upon receipt by the Company of the aforesaid written statement, or on such later date as is specified therein, and, at the election of the Holder, may be made contingent upon the closing of the sale of the Company’s Common Stock to
the public in a public offering pursuant to a registration statement under the Act (a “Public Offering”). 

(iii) Determination of Fair Market Value. For purposes of this Section 3(b), “fair market
value” of a share of Applicable Stock (or Common Stock if the Applicable Stock has been automatically converted into Common Stock) as of a particular date (the “Determination Date”) shall mean: 

(1) If the Conversion Right is exercised in connection with and contingent upon a Public Offering, and if the Company’s
registration statement relating to such Public Offering (“Registration Statement”) has been declared effective by the Securities and Exchange Commission, then the initial “Price to Public” specified in the final
prospectus with respect to such Public Offering. 

  
 9. 

 (2) If the Conversion Right is not exercised in connection with and contingent upon a
Public Offering, then as follows: 
 (A) If regularly traded on a nationally recognized securities exchange, interdealer quotation
system or over-the-counter market (not including any secondary market for securities of non-public companies), the fair market value of the Common Stock shall be deemed
to be the closing price or last sale price of the Common Stock on the trading day immediately prior to the Determination Date, and the fair market value of the Applicable Stock shall be deemed to be such fair market value of the Common Stock
multiplied (if the Applicable Stock is not then constituted as Common Stock) by the number of shares of Common Stock into which each share of Applicable Stock is then convertible; and 

(B) If there is no liquid public market for the Common Stock, then fair market value shall be reasonably determined in good faith by
the board of directors of the Company. 
 (iv) If closing prices or last sale prices are no longer reported by a securities exchange
or other trading system, the closing price or last sale price shall be that which is reported by such securities exchange or other trading system at 4:00 p.m. New York City time on the applicable trading day. 

4. Stock Fully Paid: Reservation of Shares. All Shares that may be issued upon the exercise of the rights represented by this
Warrant will, upon issuance pursuant to the terms and conditions herein, be fully paid and nonassessable, and free from all preemptive rights and taxes, liens and charges with respect to the issue thereof. During the period within which the rights
represented by this Warrant may be exercised, the Company will at all times have authorized, and reserved for the purpose of the issue upon exercise of the purchase rights evidenced by this Warrant, a sufficient number of shares of its Applicable
Stock to provide for the exercise of the rights represented by this Warrant and, while applicable, a sufficient number of shares of its Common Stock to provide for the conversion of the Applicable Stock into Common Stock. 

5. Adjustment of Exercise Price and Number of Shares. The number and kind of securities purchasable upon the exercise of this
Warrant and the Exercise Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 

(a) Corporate Events. In case of any reclassification or change of securities of the class issuable upon exercise of this Warrant
(other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination), or in case of any merger of the Company with or into another corporation (other than a merger
with another corporation in which the Company is the acquiring and the surviving corporation and which does not result in any reclassification or change of outstanding securities issuable upon exercise of this Warrant and other than an Acquisition
that results in the exercise or termination of this Warrant) (each, a “Corporate Event”), the Company, or such successor corporation, as the case may be, shall duly execute and deliver to the Holder a new Warrant (in form and
substance satisfactory to the Holder), or the Company shall make appropriate provision without the issuance of a new Warrant, so that the Holder shall have the right to receive upon exercise of this Warrant, at a total purchase price not to exceed
that payable upon the exercise of the unexercised portion of this Warrant, and in lieu of the shares of Applicable Stock theretofore issuable upon exercise of this Warrant, the kind and amount of shares of stock, other securities, money and property
receivable upon such Corporate Event by a holder of the number of shares of Applicable Stock then purchasable under this Warrant. Any new Warrant shall provide for adjustments that shall be as nearly equivalent as may be practicable to the
adjustments provided for in this Section 5. The provisions of this Section 5(a) shall similarly apply to successive Corporate Events. 

(b) Subdivision or Combination of Shares. If the Company at any time while this Warrant remains outstanding and unexpired shall
subdivide or combine its outstanding shares of Applicable Stock, the Exercise Price shall be proportionately decreased and the number of Shares issuable hereunder shall be proportionately increased in the case of a subdivision and the Exercise Price
shall be proportionately increased and the number of Shares issuable hereunder shall be proportionately decreased in the case of a combination. 

  
 10. 

 (c) Stock Dividends and Other Distributions. If the Company at any time while this
Warrant is outstanding and unexpired shall (i) pay a dividend with respect to Applicable Stock payable in Applicable Stock, then the Exercise Price shall be adjusted, from and after the date of determination of shareholders entitled to receive
such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such date of determination by a fraction (A) the numerator of which shall be the total number of shares of Applicable Stock
outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the total number of shares of Applicable Stock outstanding immediately after such dividend or distribution; or (ii) make any other
distribution with respect to Applicable Stock (except any distribution specifically provided for in Section 5(a) and Section 5(b)), then, in each such case, provision shall be made by the Company
such that the Holder shall receive upon exercise of this Warrant a proportionate share of any such dividend or distribution as though it were the holder of the Applicable Stock (or Common Stock issuable upon conversion thereof) as of the record date
fixed for the determination of the shareholders of the Company entitled to receive such dividend or distribution. 
 (d)
Adjustment of Number of Shares. Upon each adjustment in the Exercise Price pursuant to Section 5(c) above, the number of Shares of Applicable Stock purchasable hereunder shall be adjusted, to the nearest whole share,
to the product obtained by multiplying the number of Shares purchasable immediately prior to such adjustment in the Exercise Price by a fraction, the numerator of which shall be the Exercise Price immediately prior to such adjustment and the
denominator of which shall be the Exercise Price immediately thereafter. 
 (e) Antidilution Rights. The other antidilution
rights applicable to the Shares of Applicable Stock purchasable hereunder are set forth in the Company’s Certificate of Incorporation, as amended through the Dace of Grant, a true and complete copy of which is attached hereto as Exhibit B (the
“Charter”). The Company shall provide the Holder with any restatement, amendment, modification or waiver of the Charter promptly after the same has been made. 

6. Notice of Adjustments. Whenever the Exercise Price or the number of Shares purchasable hereunder shall be adjusted pursuant
to Section 5 hereof, the Company shall deliver to Holder a certificate signed by its chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method
by which such adjustment was calculated, and the Exercise Price and the number of Shares purchasable hereunder after giving effect to such adjustment. In addition, whenever the conversion price or conversion ratio of the Applicable Stock shall be
adjusted, the Company shall deliver to Holder a certificate signed by its chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was
calculated, and the conversion price or ratio of the Applicable Stock after giving effect to such adjustment. Whenever the Exercise Price or the number of Shares purchasable hereunder shall be fixed according to a formula based upon the occurrence
of an event or events subsequent to the Date of Grant, at the end of the period during which the event or events can occur, the Company shall deliver to Holder a certificate signed by its chief financial officer selling forth the Exercise Price
and/or number of Shares purchasable hereunder, and, in reasonable detail, the calculation of the Exercise Price and/or such number of Shares. 

7. Fractional Shares. No fractional shares of Applicable Stock will be issued in connection with any exercise or conversion
hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Applicable Stock on the date of exercise or conversion as reasonably determined in good faith by the Company’s
Board of Directors. 

  
 11. 

 8. Compliance with Ace: Disposition of Warrant or Shares of Applicable Stock. 

(a) Compliance with Act. The Holder, by acceptance hereof, agrees that this Warrant, and the shares of Applicable Stock to be
issued upon exercise hereof and any Common Stock issued upon conversion thereof are being acquired for investment and that the Holder will not offer, sell or otherwise dispose of this Warrant, or any shares of Applicable Stock to be issued upon
exercise hereof or any Common Stock issued upon conversion thereof except under circumstances which will not result in a violation of the Act or any applicable state securities laws. Upon exercise of this Warrant, unless such exercise is registered
under the Act and any applicable state securities laws or an exemption from such registration is available, the Holder shall confirm in writing that the shares of Applicable Stock so purchased (and any Common Stock issued upon conversion thereof)
are being acquired for investment and not with a view toward distribution or resale in violation of the Act and shall confirm such other matters related thereto as may be reasonably requested by the Company. This Warrant and all shares of Applicable
Stock issued upon exercise of this Warrant and all Common Stock issued upon conversion thereof (unless no longer required under applicable law) shall be stamped or imprinted with a legend in substantially the following form: 

“THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. NO SALE OR
DISPOSITION MAY BE EFFECTED WITHOUT (i) EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATIONS ARE NOT REQUIRED, (iii) RECEIPT
OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF SECTION 8 OF THE WARRANT UNDER WHICH THESE SECURITIES WERE ISSUED, DIRECTLY OR
INDIRECTLY.” 
 Said legend shall be removed by the Company, upon the request of the Holder, at such time as the restrictions on the
transfer of the applicable security shall have terminated. In addition, in connection with the issuance of this Warrant, the Holder specifically represents to the Company by acceptance of this Warrant as follows: 

(1) The Holder is aware of the Company’s business affairs and financial condition, and has acquired information about the Company
sufficient to reach an informed and knowledgeable decision to acquire this Warrant. The Holder is acquiring this Warrant for its own account for investment purposes only and not with a view to, or for the resale in connection with, any
“distribution” thereof in violation of the Act. 
 (2) The Holder understands that this Warrant has not been registered
under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. 

(3) The Holder further understands that this Warrant must be held indefinitely unless subsequently registered under the Act and
qualified under any applicable state securities laws, or unless exemptions from registration and qualification are otherwise available. The Holder is aware of the provisions of Rule 144, promulgated under the Act. 

(4) The Holder is experienced in evaluating and investing in companies engaged in businesses similar to that of Company; it
understands that investment in this Warrant involves substantial risks; it has made detailed inquiries concerning the Company, its business and services, its officers and its personnel; in making this investment it has relied upon information made
available to it by the Company; and it has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of investment in the Company and it is able to bear the economic risk of that
investment. 
 (5) The Holder is an “accredited investor” as such term is defined in Rule 501 of Regulation D promulgated
under the Act. 
 (b) Disposition of Warrant or Shares. With respect to any offer, sale or other disposition of this Warrant
or any shares of Applicable Stock acquired pursuant to the exercise of this Warrant, the Holder agrees to give written notice to the Company prior thereto, describing briefly the manner 

  
 12. 

 
thereof, together with a written opinion of counsel (if such sale or disposition is in connection with an Acquisition, such opinion shall be at the Company’s expense, and otherwise al the
Holder’s expense), or other evidence, if reasonably satisfactory to the Company, to the effect that such offer, sale or other disposition may be effected without registration or qualification (under the Act as then in effect or any federal or
state securities law then in effect) of this Warrant or such shares of Applicable Stock or Common Stock and indicating whether or not under the Act certificates for this Warrant or such shares of Applicable Stock to be sold or otherwise disposed of
require any restrictive legend as to applicable restrictions on transferability in order to ensure compliance with such law. Upon receiving such written notice and reasonably satisfactory opinion or other evidence, the Company, as promptly as
practicable but no later than fifteen (15) days after receipt of the written notice, shall notify the Holder that the Holder may sell or otherwise dispose of this Warrant or such shares of Applicable Stock or Common Stock, all in accordance
with the terms of the notice delivered to the Company. If a determination has been made pursuant to this Section 8(b) that the opinion of counsel or other evidence is not reasonably satisfactory to the Company, the Company
shall so notify the Holder promptly with details thereof after such determination has been made. Notwithstanding the foregoing, this Warrant or such shares of Applicable Stock or Common Stock may, as to such federal laws, be offered, sold or
otherwise disposed of (i) pursuant to an effective registration statement covering such securities or (ii) in accordance with Rule 144 or 144A under the Act, provided that the Company shall have been furnished with such information as the
Company may reasonably request to provide a reasonable assurance that the provisions of Rule 144 or 144A have been satisfied. Each certificate representing this Warrant or the shares of Applicable Stock thus transferred (except a transfer pursuant
to an effective registration statement or Rule 144 or 144A) shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with such laws, unless in the aforesaid opinion of counsel for the Holder, such legend
is not required in order to ensure compliance with such laws. The Company may issue stop transfer instructions to its transfer agent in connection with such restrictions. Notwithstanding the foregoing, at all times prior to the Company’s IPO,
Holder, without the Company’s prior written consent, shall not transfer, sell or assign this Warrant or any shares of Applicable Stock acquired pursuant to the exercise of this Warrant, to a direct competitor of the Company, except in
connection with an Acquisition of the Company by such direct competitor. 
 (c) Applicability of Restrictions. Neither any
restrictions of any legend described in this Warrant nor the requirements of Section 8(b) above shall apply to any transfer without value of, or grant of a security interest without value in, this Warrant (or the Applicable
Stock obtainable upon exercise thereof) or any part hereof (i) to a partner of the Holder if the Holder is a partnership or to a member of the Holder if the Holder is a limited liability company, (ii) to a partnership of which the Holder
is a partner or to a limited liability company of which the Holder is a member, or (iii) to a single affiliate of the Holder if the Holder is a corporation, where, in each case, the transferee is an “accredited investor”; provided,
however, in any such transfer, if applicable, the transferee shall on the Company’s request agree in writing to be bound by the terms of this Warrant as if an original holder hereof. 

(d) Market Stand-off Agreement. The Holder agrees that the shares of Applicable Stock
shall be subject to the “Market Stand-Off” provisions in Section 2.13 of that certain Amended and Restated Investor Rights Agreement dated as of June 22, 2015, as the same may be amended or
restated from time to time or any applicable successor section thereof; provided, however, that such “Market Stand-Off” provisions shall terminate as to the undersigned if any of the
Company’s officer, directors and holders of more than 1 % of the Company’s Common Stock (as determined on an as-converted to Common Stock basis) that are subject to similar “Market Stand-Off” provisions have their obligations waived or are otherwise permitted to make sales of Securities of the Company in the subject transaction. 

9. Rights as Shareholders: Information. No Holder, as a holder of this Warrant, shall be entitled to vote or receive dividends
or be deemed the holder of Applicable Stock for any purpose, nor shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a shareholder of the Company or any right to vote for the election of directors or
upon any matter submitted to shareholders at any meeting thereof, until this Warrant shall have been exercised or converted and the Shares purchasable upon the exercise or conversion hereof shall have become deliverable, as provided herein.
Notwithstanding the foregoing, the Company will transmit to the Holder such information, documents and reports as are generally distributed to the holders of any class or series of the securities of the Company

  
 13. 

 
of Applicable Stock that could be purchasable hereunder concurrently with the distribution thereof to such shareholders. In addition, the Company agrees to provide in a timely manner any
information reasonably requested by the Holder to enable the Holder and its affiliates to comply with their accounting reporting requirements. Prior to the effective date of an IPO, Company will also provide Holder the following information: 

(a) As soon as practicable (and in any event within thirty (30) days after the end of each quarter), unaudited financial statements
for such quarter, certified by Company’s Chief Executive Officer or Chief Financial Officer to fairly present in all material respects the data reflected therein. 

(b) As soon as practicable (and in any event within 270 days for fiscal year 2017, 180 days for fiscal year 2018, and ninety
(90) days after the end of each subsequent fiscal year), audited financial statements for such year, setting forth in comparative form the corresponding figures for the preceding fiscal year, and accompanied by an audit report and unqualified
opinion of the independent certified public accountants of recognized national standing selected by Company. 
 (c) No later than
thirty (30) days before the start of Company’s fiscal year, financial projections for the next fiscal year approved by Company’s Board of Directors. 

(d) Upon request by the Holder, the latest available Section 409A valuation report by an independent third party valuation firm.

 (e) Upon request by the Holder, the latest available summary of the Company’s equity capital account showing share classes,
number of shares outstanding in each share class, common stock equivalents for each class, stock incentive plan amounts, amounts paid per share for each share class and valuation as of the last round of financing. 

10. Additional Rights. 

(a) Notice of Transactions. The Company shall provide the Holder with at least ten (10) days’ written notice prior to
closing thereof of the terms and conditions of any of the following transactions (to the extent the Company has notice thereof): (i) any Acquisition of the Company or any liquidation or winding up of the Company, (ii) any declaration of a
dividend or distribution, whether in cash, property, stock, or other securities, and (iii) any offer for subscription or sale pro rata to the holders of the outstanding shares of Applicable Stock any additional shares of any class or series of
the Company’s stock (other than pursuant to contractual pre-emptive rights) and (iv) any Qualified Financing. 

(b) Exercise Prior to Expiration. To the extent this Warrant is not previously exercised as to all of the Shares subject hereto,
and if the fair market value of one share of the Applicable Stock is greater than the Exercise Price then in effect, this Warrant shall be deemed automatically exercised pursuant to Section 3(b) above (even if not
surrendered) immediately before its expiration. For purposes of such automatic exercise, the fair market value of one share of the Applicable Stock upon such expiration shall be determined pursuant to Section 3(b). To the
extent this Warrant or any portion thereof is deemed automatically exercised pursuant to this Section 10(b), the Company agrees co promptly notify the Holder of the number of Shares, if any, the Holder is to receive by
reason of such automatic exercise. 
 (c) Down Rounds. If, prior to an IPO, the Company conducts a private offering of equity
securities of the Company with the principal purpose of raising capital after the original date of issuance of this Warrant at a price per share lower than the Exercise Price then in effect (such offering being referred to herein as a
“Down Round”), the Company shall give the Holder the opportunity to purchase up to that number of shares of equity securities of the Company to be sold through the Down Round as will enable the Holder to own or acquire
immediately after completion of the Down Round the same percentage of the equity securities of the Company (on a Fully Diluted Basis) as the Holder owned and/or had the right to purchase under this Warrant immediately prior to commencement of the
Down Round offering. In this regard, the Company shall provide written notice to the Holder reasonably in advance 

  
 14. 

 
of a proposed Down Round, which notice shall state, to the extent then known by the Company, the number and type of shares of equity securities proposed to be sold through the Down Round and the
per share price, and shall establish a deadline, not less than 15 days after the giving of such notice, by which the Holder must deliver its written election to purchase shares in the Down Round. The per share price payable by the Holder in the Down
Round shall be the same per share price payable by the lead investor in the Down Round. If the Company fails timely to afford the Holder the opportunity to participate in the Down Round in the foregoing manner, then the Holder shall be entitled to
purchase under this Warrant (in addition to the securities previously purchasable upon exercise of this Warrant), the securities the Holder was entitled to purchase under this Section 10(c) at the price specified in this
Section 10(c). The provisions of this Section 10(c) shall terminate upon the closing of an IPO. 

11. Representations and Warranties. The Company represents and warrants to the Holder as follows: 

(a) This Warrant has been duly authorized and executed by the Company and is a valid and binding obligation of the Company enforceable
in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific performance, injunctive relief and other equitable
remedies. 
 (b) The Shares have been duly authorized and reserved for issuance by the Company and, when issued in accordance with
the terms hereof, will be validly issued, fully paid and nonassessable and free from preemptive rights. 
 (c) The rights,
preferences, privileges and restrictions granted to or imposed upon the Applicable Stock and the holders thereof are as set forth in the Charter. 

(d) The execution and delivery of this Warrant are not, and the issuance of the Shares upon exercise of this Warrant in accordance with
the terms hereof will not be, inconsistent with the Company’s Charter or by-laws, do not and will not contravene any law, governmental rule or regulation, judgment or order applicable to the
Company, and do not and will not conflict with or contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument of which the Company is a party or by which it is bound or require the consent or
approval of, the giving of notice to, the registration or filing with or the taking of any action in respect of or by, any Federal, state or local government authority or agency or other person, except for the filing of notices pursuant to federal
and state securities laws, which filings will be effected by the time required thereby. 
 (e) There are no actions, suits, audits,
investigations or proceedings pending or, to the knowledge of the Company, threatened against the Company in any court or before any governmental commission, board or authority which, if adversely determined, would reasonably be expected to have a
material adverse effect on the ability of the Company to perform its obligations under this Warrant. 
 (f) The number of shares of
Common Stock of the Company outstanding on the date hereof, on a Fully Diluted Basis, does not exceed 187,995,766 shares. 
 12.
Modification and Waiver. This Warrant and any provision hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of the same is sought. 

13. Notices. Any notice, request, communication or other document required or permitted to be given or delivered to the Holder
or the Company shall be delivered, or shall be sent by certified or registered mail, postage prepaid, to the Holder at its address as shown on the books of the Company or to the Company at the address indicated therefor on the signature page of this
Warrant. Such notice, request, communication or other document may also be delivered by any other means of transmission so long as reasonable confirmation of receipt by the addressee is obtained. 

  
 15. 

 14. Binding Effect on Successors. This Warrant shall be binding upon any
corporation succeeding the Company by merger, consolidation or acquisition of all or substantially all of the Company’s assets, and all of the obligations of the Company relating to the Applicable Stock issuable upon the exercise or conversion
of this Warrant shall survive the exercise, conversion and termination of this Warrant and all of the covenants and agreements of the Company shall inure to the benefit of the successors and assigns of the Holder. 

15. Lost Warrants or Stock Certificates. The Company covenants to the Holder that, upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant or any stock certificate and, in the case of any such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to the Company, or in
the case of any such mutilation upon surrender and cancellation of such Warrant or stock certificate, the Company will make and deliver a new Warrant or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant or
stock certificate. 
 16. Descriptive Headings. The descriptive headings of the various Sections of this Warrant are inserted
for convenience only and do not constitute a part of this Warrant. The language in this Warrant shall be construed as to its fair meaning without regard to which party drafted this Warrant. 

17. Governing Law. This Warrant shall be construed and enforced in accordance with, and the rights of the parties shall be
governed by, the laws of the State of California. 
 18. Survival of Representations, Warranties and Agreements. All
representations and warranties of the Company and the Holder contained herein shall survive the Date of Grant, the exercise or conversion of this Warrant (or any part hereof) or the termination or expiration of rights hereunder. All agreements of
the Company and the Holder contained herein shall survive indefinitely until, by their respective terms, they are no longer operative. 

19. Remedies. In case any one or more of the covenants and agreements contained in this Warrant shall have been breached, the
Holder (in the case of a breach by the Company), or the Company (in the case of a breach by the Holder), may proceed to protect and enforce their or its rights either by suit in equity and/or by action al law, including, but not limited to, an
action for damages as a result of any such breach and/or an action for specific performance of any such covenant or agreement contained in this Warrant. 

20. No Impairment of Rights. The Company will not, by amendment of its Charter or through any other means, including by
reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the Holder against impairment. Nothing in this Section 20 shall limit the
Company’s ability to amend its Charter so long as the Company obtains the required stockholder votes required to amend such document and such amendment does not adversely affect Holder’s rights in a manner that is disproportionate relative
to the rights of other holders of Shares of Applicable Stock. 
 21. Severability. The invalidity or unenforceability of any
provision of this Warrant in any jurisdiction shall not affect the validity or enforceability of such provision in any other jurisdiction, or affect any other provision of this Warrant, which shall remain in full force and effect. 

22. Recovery of Litigation Costs. If any legal action or other proceeding is brought for the enforcement of this Warrant, or
because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Warrant, the successful or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees and other costs
incurred in that action or proceeding, in addition to any other relief to which it or they may be entitled. 

  
 16. 

 23. Entire Agreement. This Warrant constitutes the entire agreement between the
parties pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations, and undertakings of the parties, whether oral or written, with respect to such subject matter. 

[Remainder of Page is Intentionally Blank] 

  
 17. 

 The Company has caused this Warrant to be duly executed and delivered as of the Date of Grant
specified above. 
  

			
	ADAPTIVE INSIGHTS, INC.
		
	By:	 	 
	Name:	 	James Johnson
	Title:	 	Chief Financial Officer
	Address:	 	 3350W. Bayshore Road, Suite 200,
 Palo Alto,
CA 94043

  
 18. 

 Exhibit H-2 

EXHIBIT A-1 

NOTICE OF EXERCISE 

To:    ADAPTIVE INSIGHTS, INC., (the “Company”) 

Re:    Warrant dated [_____________], issued by the Company to SILVER LAKE WATERMAN FUND II, L.P. (the “Warrant”)

 1. The undersigned hereby: 

☐    elects to purchase _______ shares of Common Stock of the Company pursuant to the terms of the Warrant, and
tenders herewith payment of the purchase price of such shares in full, or 
 ☐    elects to exercise its net
issuance rights pursuant to Section 3(b) of the Warrant with respect to ________ Shares of Common Stock. 
 2. Please issue a
certificate or certificates representing ______ shares in the name of the undersigned or in such ocher name or names as are specified below: 
  

 
 (Name) 

 
  

 
  

(Address) 
 3. The undersigned
represents that the aforesaid shares are being acquired for the account of the undersigned for investment and not with a view to, or for resale in connection with, the distribution thereof and that the undersigned has no present intention of
distributing or reselling such shares, all except as in compliance with applicable securities laws. 
  

	
	 
	(Signature)

                  

    (Date) 

 EXHIBIT A-2 

NOTICE OF EXERCISE 

To:    ADAPTIVE INSIGHTS, INC., (the “Company”) 

Re:    Warrant dated [_____________], issued by the Company to SILVER LAKE WATERMAN FUND II, L.P. (the “Warrant”) 

1. Contingent upon and effective immediately prior to the closing (the “Closing”) of the Company’s public offering contemplated
by the Registration Statement on Form S__, filed ________, 20__, the undersigned hereby: 
 ☐    elects to purchase
_______ shares of Common Stock of the Company (or such lesser number of shares as may be sold on behalf of the undersigned at the Closing) pursuant to the terms of the Warrant, or 

☐    elects to exercise its net issuance rights pursuant to Section 3(b) of the Warrant with respect to ________
Shares of Common Stock. 
 2. Please deliver to the custodian for the selling shareholders a stock certificate representing such _______
shares. 
 3. The undersigned has instructed the custodian for the selling shareholders to deliver to the Company $_______or, if less, the
net proceeds due the undersigned from the sale of shares in the aforesaid public offering. If such net proceeds are less than the purchase price for such shares, the undersigned agrees to deliver the difference to the Company prior to the Closing.

  

	
	 
	(Signature)

                     

    (Date) 

 EXHIBIT B 

CHARTEREX-10.13

 Exhibit 10.13 

LEASE AGREEMENT 
 THIS
LEASE AGREEMENT (this “Lease”) is made this 26th day of February, 2013, between ARE-SAN FRANCISCO NO. 18, LLC, a Delaware limited liability company (“Landlord”), and
ADAPTIVE PLANNING, INC., a Delaware corporation (“Tenant”). 
  

			
	Address:	  	3350 West Bayshore Road, Palo Alto, California
		
	Premises:	  	The entire second floor of the Project, containing approximately 30,000 rentable square feet, as agreed upon by the parties and as shown on Exhibit A.
		
	Project:	  	The real property on which the building (the “Building”) in which the Premises are located, together with all improvements thereon and appurtenances thereto as described on Exhibit B.
		
	Base Rent:	  	$2.50 per rentable square foot of the Premises per month, subject to adjustment as provided for in Sections 4 hereof.

 Rentable Area of Premises: 30,000 sq. ft. 

	
	
	Rentable Area of Project: 60,000 sq. ft.             Tenant’s Share of Operating Expenses: 50%

 Security Deposit: $75,000 

Target Commencement Date: July 1, 2013 
 Rent
Adjustment Percentage: 3% 
  

			
	Base Term:	  	Beginning on the Commencement Date and ending on the last day of the 60th month following the month in which the Rent Commencement Date occurs (as defined in Section 2) hereof.
		
	Permitted Use:	  	Office and related uses consistent with the character of the Project and otherwise in compliance with the provisions of Section 7 hereof.

  

			
	Address for Rent Payment:	  	Landlord’s Notice Address:
		  	Attention: Corporate Secretary

 Tenant’s Notice Address: 

3350 Bayshore Road, Suite 200 
 Palo Alto, California 94303 

Attention: CFO 
 The following Exhibits and Addenda are attached
hereto and incorporated herein by this reference: 
  

			
	☒ EXHIBIT A - PREMISES DESCRIPTION	  	☒ EXHIBIT B - DESCRIPTION OF PROJECT
	☒ EXHIBIT C - WORK LETTER	  	☒ EXHIBIT D - COMMENCEMENT DATE
	☒ EXHIBIT E - RULES AND REGULATIONS	  	☒ EXHIBIT F - TENANT’S PERSONAL PROPERTY
	☒ EXHIBIT G - LANDLORD’S FURNITURE	  	

 1.    Lease of Premises. Upon and subject to all of the terms and conditions
hereof, Landlord hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. The portions of the Project which are for the non-exclusive use of tenants of the Project are
collectively referred to herein as the “Common Areas.” Landlord reserves the right to modify Common Areas, provided that such modifications do not materially adversely affect Tenant’s use of the Premises for the Permitted Use.
Landlord shall use reasonable efforts to minimize interference with Tenant’s use of the Premises in connection with such modifications. 

  
 

 

 Tenant shall have the right to place a reception desk and related furnishings (all of which shall
be subject to Landlord’s approval, which shall not be unreasonably withheld or delayed) within the lobby of the first floor of the Building at the base of the stairs leading up to the Premises and otherwise in a location and in a layout
reasonably acceptable to Landlord (“Tenant Reception Area”). The cost of reception desk and related furnishings shall be borne by Tenant, provided that costs and expenses of any construction in the Tenant Reception Area may be paid
for out of the TI Allowance (defined in Section 5(b) of the Work Letter) as provided in the Work Letter. Tenant’s use of the Tenant Reception Area shall be subject to all of the terms and conditions of this Lease, except that Tenant shall
not be required to pay Base Rent for the Tenant Reception Area and the rentable square footage of the Tenant’s Reception Area shall not be included within the measurement of the Premises. Landlord may require Tenant to remove the reception desk
and related furnishings at the expiration or earlier termination of the Term. Tenant shall repair any damage to the Building caused by Tenant’s installation, maintenance, replacement, use or removal of the reception desk and related
furnishings. 
 2.    Delivery; Acceptance of Premises; Commencement Date. So long as Tenant has delivered
evidence of the insurance required hereby and by the Work Letter, Landlord shall use reasonable efforts to make the Premises available to Tenant for the construction of the Tenant’s Work (defined below) on or before the Target Commencement Date
(“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as
provided herein. If Landlord does not Deliver the Premises within 30 days of the Target Commencement Date for any reason other than Force Majeure delays, this Lease may be terminated by Landlord or Tenant by written notice to the other, and if so
terminated by either: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord
nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the term “Tenant’s Work” shall have the
meaning set forth for such term in the Work Letter. If neither Landlord nor Tenant elects to void this Lease within 5 business days of the lapse of such 30 day period, such right to void this Lease shall be waived and this Lease shall remain in full
force and effect. 
 The “Commencement Date” shall be the date Landlord Delivers the Premises to Tenant. The “Rent
Commencement Date” shall be the date that is 91st day after the Commencement Date. The “Expiration Date” shall be the last day of the 60th month following the month in which the Rent Commencement Date occurs. Tenant
acknowledges that Tenant shall be required to commence paying Base Rent on the Rent Commencement Date regardless of whether Tenant’s Work has been Substantially Completed (as defined in the Work Letter). Upon request of Landlord, Tenant shall
execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the Expiration Date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this
Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as
defined above on the first page of this Lease and any Extension Term which Tenant may elect pursuant to Section 40 hereof. 

During the Term, Tenant shall have the right to use the furniture belonging to Landlord located within the Premises as of the date of this
Lease and more particularly described on Exhibit G attached hereto (“Landlord’s Furniture”). If Tenant does not want to use certain of the items of Landlord’s Furniture listed on Exhibit G, Tenant shall
notify Landlord in writing on or before June 1, 2013 of such items of Landlord’s Furniture that Tenant does not want to use and Landlord shall cause such items of Landlord’s Furniture identified in Tenant’s notice to be removed
from the Premises prior to the Commencement Date. Tenant shall have no right to remove any of Landlord’s Furniture from the Premises without Landlord’s prior written consent and any remaining Landlord’s Furniture shall be returned to
Landlord at the expiration or earlier termination of the Term in substantially the same condition as received by Tenant, except for ordinary wear and tear. 

 For the period of 30 consecutive days after the Commencement Date, Landlord shall, at its sole
cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building and Building Systems (as defined in Section 13) serving the Premises, unless
Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. 
 Except as otherwise set
forth in this Lease: (i) Tenant shall accept the Premises and Landlord’s Furniture in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof);
(ii) Landlord shall have no obligation for any defects in the Premises or Landlord’s Furniture; and (iii) Tenant’s taking possession of the Premises and Landlord’s Furniture shall be conclusive evidence that Tenant accepts the
Premises and Landlord’s Furniture and that the Premises and Landlord’s Furniture were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the
terms and conditions of this I RASP, except the obligation to pay Race Rent. 
 Tenant agrees and acknowledges that, except as otherwise set
forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises, Landlord’s Furniture or the Project, and/or the suitability of the
Premises, Landlord’s Furniture or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises, Landlord’s Furniture or the Project are suitable for the Permitted Use. This Lease
constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not contained herein.
Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein. 

3.    Rent. 

(a)    Base Rent. Base Rent for the month in which the Rent Commencement Date occurs and the Security Deposit shall
be due and payable on delivery of an executed copy of this Lease to Landlord. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or
before the first day of each calendar month during the Term hereof after the Rent Commencement Date, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such
other place as Landlord may from time to time designate in writing. Payments of Base Rent for any fractional calendar month shall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under
this Lease are independent obligations. Tenant shall have no right at any time to abate, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly
provided in this Lease. 
 (b)    Additional Rent. In addition to Base Rent, Tenant agrees to pay to Landlord as
additional rent (“Additional Rent”): (i) Tenant’s Share of “Operating Expenses” (as defined in Section 5), and (ii) any and all other amounts Tenant assumes or agrees to pay under the
provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant,
after any applicable notice and cure period. 
 4.    Base Rent Adjustments. Base Rent shall be increased on each
annual anniversary of the Rent Commencement Date (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base
Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. 

5.    Operating Expense Payments. Landlord shall deliver to Tenant a written estimate of Operating Expenses for
each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. Commencing on the 61st day after the 

 
Commencement Date and continuing thereafter on the first day of each month during the Term, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate.
Payments for any fractional calendar month shall be prorated. 
 The term “Operating Expenses” means all costs and expenses
of any kind or description whatsoever incurred or accrued each calendar year by Landlord with respect to the Project (including, without duplication, Taxes (as defined in Section 9), reasonable reserves consistent with good
business practice for future repairs and replacements, capital repairs and improvements amortized over the useful life of such capital items (as reasonably determined by Landlord taking into account relevant factors), and the costs of
Landlord’s third party property manager (which shall not exceed 3.0% of Base Rent) or, if there is no third party property manager, administration rent in the amount of 3.0% of Base Rent), excluding only: 

(a)    the original design and construction costs of the Project and renovation prior to the date of the Lease and costs
of correcting defects in such original design and/or construction or renovation; 
 (b)    capital expenditures for
expansion of the Project; 
 (c)    interest, principal payments of Mortgage (as defined in
Section 27) debts of Landlord, financing costs and amortization of funds borrowed by Landlord, whether secured or unsecured; 

(d)    depreciation of the Project (except for capital improvements, amortized as required herein. the cost of which are
includable in Operating Expenses); 
 (e)    advertising, legal and space planning expenses and leasing commissions and
other costs and expenses incurred in procuring and leasing space to tenants for the Project, including any leasing office maintained in the Project, free rent and construction allowances for tenants; 

(f)    legal and other expenses incurred in the negotiation or enforcement of leases; 

(g)    completing, fixturing, improving, renovating, painting, redecorating or other work, which Landlord pays for or
performs for other tenants within their premises, and costs of correcting defects in such work; 
 (h)    costs to be
reimbursed by other tenants of the Project or Taxes to be paid directly by Tenant or other tenants of the Project, whether or not actually paid; 

(i)    salaries, wages, benefits and other compensation paid to officers and employees of Landlord who are not assigned in
whole or in part to the operation, management, maintenance or repair of the Project; 
 (j)    general organizational,
administrative and overhead costs relating to maintaining Landlord’s existence, either as a corporation, partnership, or other entity, including general corporate, legal and accounting expenses; 

(k)    costs (including attorneys’ fees and costs of settlement, judgments and payments in lieu thereof) incurred in
connection with disputes with tenants, other occupants, or prospective tenants, and costs and expenses, including legal fees, incurred in connection with negotiations or disputes with employees, consultants, management agents, leasing agents,
purchasers or mortgagees of the Building; 
 (l)    costs incurred by Landlord due to the violation by Landlord, its
employees, agents or contractors or any tenant of the terms and conditions of any lease of space in the Project or any Legal Requirement (as defined in Section 7); 

 (m)    penalties, fines or interest incurred as a result of Landlord’s
inability or failure to make payment of Taxes and/or to file any tax or informational returns when due, or from Landlord’s failure to make any payment of Taxes required to be made by Landlord hereunder before delinquency; 

(n)    overhead and profit increment paid to Landlord or to subsidiaries or affiliates of Landlord for goods and/or
services in or to the Project to the extent the same exceeds the costs of such goods and/or services rendered by unaffiliated third parties on a competitive basis; 

(o)    costs of Landlord’s charitable or political contributions, or of fine art maintained at the Project; 

(p)    costs in connection with services (including electricity), items or other benefits of a type which are not standard
for the Project and which are not available to Tenant without specific charges therefor, but which are provided to another tenant or occupant of the Project, whether or not such other tenant or occupant is specifically charged therefor by Landlord;

 (q)    costs incurred in the sale or refinancing of the Project; 

(r)    net income taxes of Landlord or the owner of any interest in the Project, franchise, capital stock, gift, estate or
inheritance taxes or any federal, state or local documentary taxes imposed against the Project or any portion thereof or interest therein; 

(s)    any expenses otherwise includable within Operating Expenses to the extent actually reimbursed by persons other than
tenants of the Project under leases for space in the Project; 
 (t)    any costs incurred to remove, study, test,
remediate or otherwise related to the presence of Hazardous Materials in or about the Building or the Project, which Hazardous Materials Tenant proves (i) existed prior to the Commencement Date, (ii) originated from any separately demised
tenant space within the Project other than the Premises or (iii) were not brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from, the Project by Tenant or any Tenant Party (as herein defined); 

(u)    costs of repairs and other work occasioned by fire, windstorm, or other casualty for which Landlord is reimbursed
by insurance or for which Landlord would have been reimbursed by insurance if Landlord failed to maintain the insurance which Landlord is required to maintain under this Lease; and 

(v)    wages, salaries, or other compensation paid to any executive employees above the grade of asset manager 

Within 90 days after the end of each calendar year (or such longer period as may be reasonably required), Landlord shall furnish to Tenant a
statement (an “Annual Statement”) showing in reasonable detail: (a) the total and Tenant’s Share of actual Operating Expenses for the previous calendar year, and (b) the total of Tenant’s payments in respect of
Operating Expenses for such year. If Tenant’s Share of actual Operating Expenses for such year exceeds Tenant’s payments of Operating Expenses for such year, the excess shall be due and payable by Tenant as Rent within 30 days after
delivery of such Annual Statement to Tenant. If Tenant’s payments of Operating Expenses for such year exceed Tenant’s Share of actual Operating Expenses for such year Landlord shall pay the excess to Tenant within 30 days after delivery of
such Annual Statement, except that after the expiration, or earlier termination of the Term or if Tenant is delinquent in its obligation to pay Rent, Landlord shall pay the excess to Tenant after deducting all other amounts due Landlord. 

The Annual Statement shall be final and binding upon Tenant unless Tenant, within 90 days after Tenant’s receipt thereof, shall contest
any item therein by giving written notice to Landlord, specifying each item contested and the reason therefor. If, during such 90 day period, Tenant reasonably and in good faith questions or contests the accuracy of Landlord’s statement of
Tenant’s Share of Operating Expenses, Landlord will provide Tenant with access to Landlord’s books and records relating to the operation of the 

 
Project and such information as Landlord reasonably determines to be responsive to Tenant’s questions (the “Expense Information”). If after Tenant’s review of such Expense
Information, Landlord and Tenant cannot agree upon the amount of Tenant’s Share of Operating Expenses, then Tenant shall have the right to have an independent regionally recognized public accounting firm selected by Tenant, working pursuant to
a fee arrangement other than a contingent fee (at Tenant’s sole cost and expense) and approved by Landlord (which approval shall not be unreasonably withheld or delayed), audit and/or review the Expense Information for the year in question (the
“Independent Review”). The results of any such Independent Review shall be binding on Landlord and Tenant. If the Independent Review shows that the payments actually made by Tenant with respect to Operating Expenses for the calendar year
in question exceeded Tenant’s Share of Operating Expenses for such calendar year, Landlord shall at Landlord’s option either (i) credit the excess amount to the next succeeding installments of estimated Operating Expenses or
(ii) pay the excess to Tenant within 30 days after delivery of such statement, except that after the expiration or earlier termination of this Lease or if Tenant is delinquent in its obligation to pay Rent, Landlord shall pay the excess to
Tenant after deducting all other amounts due Landlord. If the Independent Review shows that Tenant’s payments with respect to Operating Expenses for such calendar year were less than Tenant’s Share of Operating Expenses for the calendar
year, Tenant shall pay the deficiency to Landlord within 30 days after delivery of such statement. If the Independent Review shows that Tenant has overpaid with respect to Operating Expenses by more than 5% then Landlord shall reimburse Tenant for
all costs incurred by Tenant for the Independent Review. Operating Expenses for the calendar years in which Tenant’s obligation to share therein begins and ends shall be prorated. Notwithstanding anything set forth herein to the contrary, if
the Project is not at least 95% occupied on average during any year of the Term, Tenant’s Share of Operating Expenses for such year shall be computed as though the Project had been 95% occupied on average during such year. 

“Tenant’s Share” shall be the percentage set forth on the first page of this Lease as Tenant’s Share as reasonably
adjusted by Landlord for changes in the physical size of the Premises or the Project occurring thereafter. Landlord may equitably increase Tenant’s Share for any item of expense or cost reimbursable by Tenant that relates to a repair,
replacement, or service that benefits only the Premises or only a portion of the Project that includes the Premises or that varies with occupancy or use. Base Rent, Tenant’s Share of Operating Expenses and all other amounts payable by Tenant to
Landlord hereunder are collectively referred to herein as “Rent.” 
 6.    Security Deposit.
Tenant shall deposit with Landlord, upon delivery of an executed copy of this Lease to Landlord, a security deposit (the “Security Deposit”) for the performance of all of Tenant’s obligations hereunder in the amount set forth
on page 1 of this Lease, which Security Deposit shall be in the form of an unconditional and irrevocable letter of credit (the “Letter of Credit”): (i) in form and substance reasonably satisfactory to Landlord, (ii) naming
Landlord as beneficiary, (iii) expressly allowing Landlord to draw upon it at any time from time to time by delivering to the issuer notice that Landlord is entitled to draw thereunder, (iv) issued by an FDIC-insured financial institution
satisfactory to Landlord, and (v) redeemable by presentation of a sight draft in the state of Landlord’s choice. If Tenant does not provide Landlord with a substitute Letter of Credit complying with all of the requirements hereof at least
10 days before the stated expiration date of any then current Letter of Credit, Landlord shall have the right to draw the full amount of the current Letter of Credit and hold the funds drawn in cash without obligation for interest thereon as the
Security Deposit. The Security Deposit shall be held by Landlord as security for the performance of Tenant’s obligations under this Lease. The Security Deposit is not an advance rental deposit or a measure of Landlord’s damages in case of
Tenant’s default. Upon each occurrence of a Default (as defined in Section 20), Landlord may use all or any part of the Security Deposit to pay delinquent payments due under this Lease, future rent damages under
California Civil Code Section 1951.2, and the cost of any damage, injury, expense or liability caused by such Default, without prejudice to any other remedy provided herein or provided by law. Landlord’s right to use the Security Deposit
under this Section 6 includes the right to use the Security Deposit to pay future rent damages following the termination of this Lease pursuant to Section 21(c) below. Upon any use of all or any
portion of the Security Deposit, Tenant shall pay Landlord on demand the amount that will restore the Security Deposit to the amount set forth on Page 1 of this Lease. Tenant hereby waives the provisions of any law, now or hereafter in force,
including, without limitation, California Civil Code Section 1950.7, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by

 
Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or
unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant. Upon bankruptcy or other debtor-creditor proceedings against Tenant, the Security Deposit shall be deemed to be applied first to the payment
of Rent and other charges due Landlord for periods prior to the filing of such proceedings. Upon any such use of all or any portion of the Security Deposit, Tenant shall, within 5 business days after demand from Landlord, restore the Security
Deposit to its original amount. If Tenant shall fully perform every provision of this Lease to be performed by Tenant, the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the
provisions of this Lease), shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within 90 days after the expiration or earlier termination of this Lease. 

If Landlord transfers its interest in the Project or this Lease, Landlord shall either (a) transfer any Security Deposit then held by
Landlord to a person or entity assuming Landlord’s obligations under this Section 6, or (b) return to Tenant any Security Deposit then held by Landlord and remaining after the deductions permitted herein. Upon
such transfer to and assumption by such transferee or the return of the Security Deposit to Tenant, Landlord shall have no further obligation with respect to the Security Deposit, and Tenant’s right to the return of the Security Deposit shall
apply solely against Landlord’s transferee. The Security Deposit is not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s default. Landlord’s obligation respecting the Security Deposit is that of a
debtor, not a trustee, and no interest shall accrue thereon. 
 7.    Use. The Premises shall be used solely for
the Permitted Use set forth in the basic lease provisions on page 1 of this Lease, and in compliance with all laws, orders, judgments, ordinances, regulations, codes, directives, permits, licenses, covenants and restrictions now or hereafter
applicable to the Premises, and to the use and occupancy thereof, including, without limitation, the Americans With Disabilities Act, 42 U.S.C. § 12101, et seq. (together with the regulations promulgated pursuant thereto,
“ADA”) (collectively, “Legal Requirements” and each, a “Legal Requirement”). Tenant shall, upon 5 business days’ written notice from Landlord, discontinue any use of the Premises which is
declared by any Governmental Authority (as defined in Section 9) having jurisdiction to be a violation of a Legal Requirement. Tenant will not use or permit the Premises to be used for any purpose or in any manner that
would void Tenant’s or Landlord’s insurance, increase the insurance risk, or cause the disallowance of any sprinkler or other credits. Tenant shall not permit any part of the Premises to be used as a “place of public
accommodation”, as defined in the ADA or any similar legal requirement. Tenant shall reimburse Landlord promptly upon demand for any additional premium charged for any such insurance policy by reason of Tenant’s failure to comply with the
provisions of this Section or otherwise caused by Tenant’s use and/or occupancy of the Premises. Tenant will use the Premises in a careful, safe and proper manner and will not commit or permit waste, overload the floor or structure of the
Premises, subject the Premises to use that would damage the Premises or obstruct or interfere with the rights of Landlord or other tenants or occupants of the Project, including conducting or giving notice of any auction, liquidation, or going out
of business sale on the Premises, or using or allowing the Premises to be used for any unlawful purpose. Tenant shall cause any equipment or machinery to be installed in the Premises so as to reasonably prevent sounds or vibrations from the Premises
from extending into Common Areas, or other space in the Project. Tenant shall not place any machinery or equipment weighing 500 pounds or more in or upon the Premises or transport or move such items through the Common Areas of the Project or in the
Project elevators without the prior written consent of Landlord. Tenant shall not, without the prior written consent of Landlord, use the Premises in any manner which will require ventilation, air exchange, heating, gas, steam, electricity or water
beyond the existing capacity of the Project as proportionately allocated to the Premises based upon Tenant’s Share as usually furnished for the Permitted Use. 

Landlord shall be responsible for the compliance of the Common Areas of the Project with the Legal Requirements as of the Commencement Date.
Following the Commencement Date, Landlord shall, as an Operating Expense (to the extent such Legal Requirement is generally applicable to similar buildings in the area in which the Project is located) and at Tenant’s expense (to the extent such
Legal Requirement is triggered by reason of Tenant’s, as compared to other tenants of the Project, specific use of the Premises or Tenant’s alterations) make any alterations or modifications to the Common Areas or the exterior of the

 
Building that are required by Legal Requirements. Except as set forth in the two prior sentences immediately preceding, Tenant, at its sole expense, shall make any alterations or modifications to
the interior of the Premises that are required by Legal Requirements (including, without limitation, compliance of the Premises with the ADA) related to Tenant’s use or occupancy of the Premises. Except as otherwise expressly provided in this
Lease, Tenant shall be responsible for any and all demands, claims, liabilities, losses, costs, expenses, actions, causes of action, damages or judgments, and all reasonable expenses incurred in investigating or resisting the same (including,
without limitation, reasonable attorneys’ fees, charges and disbursements and costs of suit) (collectively, “Claims”) arising out of or in connection with Legal Requirements, and Tenant shall indemnify, defend, hold and save
Landlord harmless from and against any and all Claims arising out of or in connection with any failure of the Premises to comply with any Legal Requirement. 

8.    Holding Over. If, with Landlord’s express written consent, Tenant retains possession of the Premises
after the termination of the Term, (i) unless otherwise agreed in such written consent, such possession shall be subject to immediate termination by Landlord at any time, (ii) all of the other terms and provisions of this Lease (including,
without limitation, the adjustment of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any expansion or renewal option or other similar right or option) during such holdover period,
(iii) Tenant shall continue to pay Base Rent in the amount payable upon the date of the expiration or earlier termination of this Lease or such other amount as Landlord may indicate, in Landlord’s sole and absolute discretion, in such
written consent, and (iv) all other payments shall continue under the terms of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of the Term without the express written consent of Landlord,
(A) Tenant shall become a tenant at sufferance upon the terms of this Lease except that the monthly rental shall be equal to 150% of Rent in effect during the last 30 days of the Term, and (B) Tenant shall be responsible for all damages
suffered by Landlord resulting from or occasioned by Tenant’s holding over, including consequential damages. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise
expressly provided, and this Section 8 shall not be construed as consent for Tenant to retain possession of the Premises. Acceptance by Landlord of Rent after the expiration of the Term or earlier termination of this Lease
shall not result in a renewal or reinstatement of this Lease. 
 9.    Taxes. Landlord shall pay, as part of
Operating Expenses, all taxes, levies, fees, assessments and governmental charges of any kind, existing as of the Commencement Date or thereafter enacted (collectively referred to as “Taxes”), imposed by any federal, state,
regional, municipal, local or other governmental authority or agency, including, without limitation, quasi-public agencies (collectively, “Governmental Authority”) during the Term, including, without limitation, all Taxes:
(i) imposed on or measured by or based, in whole or in part, on rent payable to (or gross receipts received by) Landlord under this Lease and/or from the rental by Landlord of the Project or any portion thereof, or (ii) based on the square
footage, assessed value or other measure or evaluation of any kind of the Premises or the Project, or (iii) assessed or imposed by or on the operation or maintenance of any portion of the Premises or the Project, including parking, or
(iv) assessed or imposed by, or at the direction of, or resulting from Legal Requirements, or interpretations thereof, promulgated by any Governmental Authority, or (v) imposed as a license or other fee, charge, tax, or assessment on
Landlord’s business or occupation of leasing space in the Project. Landlord may contest by appropriate legal proceedings the amount, validity, or application of any Taxes or liens securing Taxes. Taxes shall not include any net income taxes
imposed on Landlord except to the extent such net income taxes are in substitution for any Taxes payable hereunder. If any such Tax is levied or assessed directly against Tenant, then Tenant shall be responsible for and shall pay the same at such
times and in such manner as the taxing authority shall require. Tenant shall pay, prior to delinquency, any and all Taxes levied or assessed against any personal property or trade fixtures placed by Tenant in the Premises, whether levied or assessed
against Landlord or Tenant. If any Taxes on Tenant’s personal property or trade fixtures are levied against Landlord or Landlord’s property, or if the assessed valuation of the Project is increased by a value attributable to improvements
in or alterations to the Premises, whether owned by Landlord or Tenant and whether or not affixed to the real property so as to become a part thereof, higher than the base valuation on which Landlord from time-to-time allocates Taxes to all tenants in the Project, Landlord shall have the right, but not the obligation, to pay such Taxes. Landlord’s determination of any excess assessed valuation shall be
binding and conclusive, absent manifest error. The amount of any such payment by Landlord shall constitute Additional Rent due from Tenant to Landlord immediately upon demand. 

 10.    Parking. Subject to all matters of record, Force Majeure, a
Taking (as defined in Section 19 below) and the exercise by Landlord of its rights hereunder Tenant shall have the right, in common with other tenants of the Project pro rata in accordance with the rentable area of the
Premises and the rentable areas of the Project occupied by such other tenants, to park in those areas designated for non-reserved parking, subject in each case to Landlord’s rules and regulations, at no
additional charge. As of the date of this Lease, Tenant’s pro rata share of parking is equal to 3.67 parking spaces per 1,000 rentable square feet of the Premises. Landlord shall not be responsible for enforcing Tenant’s parking rights
against any third parties, including other tenants of the Project. 
 11.    Utilities, Services. The hours of
operation of the Project are 8:00 a.m. to 6:00 p.m., Monday through Friday and 8:00 a.m. to 1:00 p.m. on Saturday, legal holidays excepted. During such periods, Landlord shall provide, subject to the terms of this
Section 11, water, electricity, heat, light, power, sewer, and other utilities (including gas and fire sprinklers to the extent the Project is plumbed for such services), refuse and trash collection and janitorial services
(collectively, “Utilities”). Upon request, Landlord shall make available at Tenant’s sole cost and expense after hours HVAC. The minimum use of after hours HVAC and the cost thereof shall be determined by Landlord and may
thereafter be amended by Landlord as the same may change from time to time upon reasonable advance notice to Tenant. Landlord shall pay, as Operating Expenses or subject to Tenant’s reimbursement obligation below, for all Utilities used on the
Premises, all maintenance charges for Utilities, and any storm sewer charges or other similar charges for Utilities imposed by any Governmental Authority or Utility provider, and any taxes, penalties, surcharges or similar charges thereon. Tenant
may cause, as part of Tenant’s Work under the Work Letter, any Utilities to be separately metered or submetered. Tenant shall pay directly to the Utility provider, prior to delinquency, any separately metered Utilities and services which may be
furnished to Tenant or the Premises during the Term. Tenant shall pay, as part of Operating Expenses, its share of all charges for jointly metered Utilities based upon consumption, as reasonably determined by Landlord. No interruption or failure of
Utilities, from any cause whatsoever other than Landlord’s willful misconduct, shall result in eviction or constructive eviction of Tenant, termination of this Lease or the abatement of Rent. Tenant agrees to limit use of water and sewer to
normal restroom use. Tenant shall have access to the Premises and Utilities shall be available to the Premises 24 hours per day, 7 days per week, except in the case of emergencies, as the result of Legal Requirements, the failure of any Utility
provider to provide such Utilities, the performance by Landlord or any Utility provider of any installation, maintenance or repairs, or any other temporary interruptions. 

If Tenant does not elect to have the Premises metered or submetered for electricity as part of Tenant’s Work, upon written notice to
Landlord delivered following the expiration of the 6th month of Base Term and prior to the expiration of the 9th month of the Base Term, Tenant may cause an energy audit of the electrical power being used in the Premises to be conducted by an energy
auditor mutually acceptable to Landlord and Tenant, in their reasonable discretion. If the results of the audit indicate that the electrical power used for the Premises is substantially lower than the amount being paid by Tenant (as reasonably
agreed upon by Landlord and Tenant) for electrical power as part of Operating Expenses, Landlord and Tenant shall negotiate in good faith a reasonable adjustment to the amount to be paid by Tenant for electrical power as part of Operating Expenses
with respect to future payments of Operating Expenses. 
 12.    Alterations and Tenant’s Property. Any
alterations, additions, or improvements made to the Premises by or on behalf of Tenant (other than the Tenant Improvements which are governed by the Work Letter), including additional locks or bolts of any kind or nature upon any doors or windows in
the Premises, but excluding installation, removal or realignment of furniture systems (other than removal of furniture systems owned or paid for by Landlord) not involving any modifications to the structure or connections (other then by ordinary
plugs or jacks) to Building Systems (as defined in Section 13) (“Alterations”) shall be subject to Landlord’s prior written consent, which may be given or withheld in Landlord’s sole discretion if
any such Alteration affects the structure or Building Systems and shall not be otherwise unreasonably withheld. If Landlord approves any Alterations, Landlord may impose such reasonable conditions on Tenant in connection with the commencement,
performance and completion of 

 
such Alterations as Landlord may deem appropriate in Landlord’s reasonable discretion. Any request for approval shall be in writing, delivered not less than 15 business days in advance of
any proposed construction, and accompanied by plans specifications, bid proposals, work contracts and such other information concerning the nature and cost of the alterations as may be reasonably requested by Landlord, including the identities and
mailing addresses of all persons performing work or supplying materials. Landlord’s right to review plans and specifications and to monitor construction shall be solely for its own benefit, and Landlord shall have no duty to ensure that such
plans and specifications or construction comply with applicable Legal Requirements. Tenant shall cause, at its sole cost and expense, all Alterations to comply with insurance requirements and with Legal Requirements and shall implement at its sole
cost and expense any alteration or modification required by Legal Requirements as a result of any Alterations. Tenant shall pay to Landlord, as Additional Rent, on demand following completion of any Alteration, an amount equal to 3% of all charges
incurred by Tenant or its contractors or agents in connection with any Alteration to cover Landlord’s overhead and expenses for plan review, coordination, scheduling and supervision; provided, however, that the fee shall be reduced to 1% if
Landlord’s involvement is limited to the review and approval of Tenant’s plans. Before Tenant begins any Alteration, Landlord may post on and about the Premises notices of non-responsibility pursuant
to applicable law. Tenant shall reimburse Landlord for, and indemnify and hold Landlord harmless from, any expense incurred by Landlord by reason of faulty work done by Tenant or its contractors, delays caused by such work, or inadequate cleanup.

 Upon request by Landlord, for proposed Alterations the estimated cost of which is over $50,000, Tenant shall furnish security or make
other arrangements satisfactory to Landlord to assure payment for the completion of all Alterations work free and clear of liens. For all proposed Alterations, Tenant shall provide (and cause each contractor or subcontractor to provide) certificates
of insurance for workers’ compensation and other coverage in amounts and from an insurance company satisfactory to Landlord protecting Landlord against liability for personal injury or property damage during construction. Upon completion of any
Alterations, Tenant shall deliver to Landlord: (i) sworn statements setting forth the names of all contractors and subcontractors who did the work and final lien waivers from all such contractors and subcontractors; and (ii) “as
built” plans for any such Alteration, if the nature of such Alteration requires such plans. 
 Except for Removable Installations (as
hereinafter defined), all Installations (as hereinafter defined) shall be and shall remain the property of Landlord during the Term and following the expiration or earlier termination of the Term, shall not be removed by Tenant at any time during
the Term, and shall remain upon and be surrendered with the Premises as a part thereof. Notwithstanding the foregoing, Landlord may, at the time its approval of any such Installation is requested, notify Tenant that Landlord requires that Tenant
remove such Installation upon the expiration or earlier termination of the Term, in which event Tenant shall remove such Installation in accordance with the immediately succeeding sentence. Upon the expiration or earlier termination of the Term,
Tenant shall remove (i) all wires, cables or similar equipment which Tenant has installed in the Premises or in the risers or plenums of the Building, (ii) any Installations for which Landlord has given Tenant notice of removal in
accordance with the immediately preceding sentence, and (Hi) all of Tenant’s Property (as hereinafter defined), and Tenant shall restore and repair any damage caused by or occasioned as a result of such removal, including, without limitation,
capping off all such connections behind the walls of the Premises and repairing any holes. During any restoration period beyond the expiration or earlier termination of the Term, Tenant shall pay Rent to Landlord as provided herein as if said space
were otherwise occupied by Tenant. If Landlord is requested by Tenant or any lender, lessor or other person or entity claiming an interest in any of Tenant’s Property to waive any lien Landlord may have against any of Tenant’s Property,
and Landlord consents to such waiver, then Landlord shall be entitled to be paid as administrative rent a fee of $1,000 per occurrence for its time and effort in preparing and negotiating such a waiver of lien. 

For purposes of this Lease, (x) “Removable installation” means any items listed on Exhibit F attached hereto and any
items agreed by Landlord in writing to be included on Exhibit F in the future, (y) “Tenant’s Property” means Removable Installations and, other than Installations, any personal property or equipment of Tenant that may be
removed without material damage to the Premises, and (z) “Installations” means all property of any kind paid for with the TI Fund, all Alterations, all fixtures, and all partitions, hardware,
built-in machinery, built-in casework and cabinets and other similar additions, equipment, property and improvements built into the Premises so as to become an integral
part of the Premises. 

 13.    Landlord’s Repairs. Landlord, as an Operating Expense,
(except to the extent expressly excluded from Operating Expenses in Section 5) shall maintain all of the structural, exterior, parking and other Common Areas of the Project, including HVAC, plumbing, fire sprinklers, elevators and all other
building systems serving the Premises and other portions of the Project (“Building Systems”), in good repair, reasonable wear and tear and uninsured losses and damages caused by Tenant, or by any of Tenant’s agents, servants,
employees, invitees and contractors (collectively, “Tenant Parties”) excluded. Losses and damages caused by Tenant or any Tenant Party shall be repaired by Landlord, to the extent not covered by insurance, at Tenant’s sole cost
and expense. Landlord reserves the right to stop Building Systems services when necessary (i) by reason of accident or emergency, or (H) for planned repairs, alterations or improvements, which are, in the reasonable judgment of Landlord,
desirable or necessary to be made, until said repairs, alterations or improvements shall have been completed. Landlord shall have no responsibility or liability for failure to supply Building Systems services during any such period of interruption;
provided, however, that Landlord shall, except in case of emergency, make a commercially reasonable effort to give Tenant 24 hours advance notice of any planned stoppage of Building Systems services for routine maintenance, repairs,
alterations or improvements. Tenant shall promptly give Landlord written notice of any repair of which Tenant becomes aware required by Landlord pursuant to this Section, after which Landlord shall make a commercially reasonable effort to effect
such repair. Landlord shall not be liable for any failure to make any repairs or to perform any maintenance unless such failure shall persist for an unreasonable time after Tenant’s written notice of the need for such repairs or maintenance.
Tenant waives its rights under any state or local law to terminate this Lease or to make such repairs at Landlord’s expense and agrees that the parties’ respective rights with respect to such matters shall be solely as set forth herein.
Repairs required as the result of fire, earthquake, flood, vandalism, war, or similar cause of damage or destruction shall be controlled by Section 18. 

14.    Tenant’s Repairs. Except for those portions of the Premises for which Landlord is expressly responsible
pursuant to Section 13 hereof, during the Term Tenant, at its expense, shall repair, replace and maintain in good condition all portions of the Premises, including, without limitation, entries, doors, ceilings, interior
windows, interior walls, and the interior side of demising walls. Should Tenant fail to make any such repair or replacement or fail to maintain the Premises, Landlord shall give Tenant notice of such failure. If Tenant fails to commence cure of such
failure within 10 business days of Landlord’s notice, and thereafter diligently prosecute such cure to completion, Landlord may perform such work and shall be reimbursed by Tenant within 10 business days after demand therefor; provided,
however, that if such failure by Tenant creates or could create an emergency, Landlord may immediately commence cure of such failure and shall thereafter be entitled to recover the costs of such cure from Tenant. Subject to Sections 17 and
18, Tenant shall bear the full uninsured cost of any repair or replacement to any part of the Project that results from damage caused by Tenant or any Tenant Party and any repair that benefits only the Premises. 

15.    Mechanic’s Liens. Tenant shall discharge, by bond or otherwise, any mechanic’s lien filed against
the Premises or against the Project for work claimed to have been done for, or materials claimed to have been furnished to, Tenant within 10 business days after the filing thereof, at Tenant’s sole cost and shall otherwise keep the Premises and
the Project free from any liens arising out of work performed, materials furnished or obligations incurred by Tenant. Should Tenant fail to discharge any lien described herein, Landlord shall have the right, but not the obligation, to pay such claim
or post a bond or otherwise provide security to eliminate the lien as a claim against title to the Project and the cost thereof shall be immediately due from Tenant as Additional Rent. If Tenant shall lease or finance the acquisition of office
equipment, furnishings, or other personal property of a removable nature utilized by Tenant in the operation of Tenant’s business, Tenant warrants that any Uniform Commercial Code Financing Statement filed as a matter of public record by any
lessor or creditor of Tenant will upon its face or by exhibit thereto indicate that such Financing Statement is applicable only to removable personal property of Tenant located within the Premises. In no event shall the address of the Project be
furnished on the statement without qualifying language as to applicability of the lien only to removable personal property, located in an identified suite held by Tenant. 

 16.    Indemnification. Tenant hereby indemnifies and agrees to
defend, save and hold Landlord harmless from and against any and all Claims for injury or death to persons or damage to property occurring within or about the Premises, arising directly or indirectly out of use or occupancy of the Premises or a
breach or default by Tenant in the performance of any of its obligations hereunder, except to the extent caused by the willful misconduct or gross negligence of Landlord or any Landlord Parties. Landlord shall not be liable to Tenant for, and Tenant
assumes all risk of damage to, personal property (including, without limitation, loss of records kept within the Premises). Tenant further waives any and all Claims for injury to Tenant’s business or loss of income relating to any such damage
or destruction of personal property (including, without limitation, any loss of records). Landlord shall not be liable for any damages arising from any act, omission or neglect of any tenant in the Project or of any other third party. 

17.    Insurance. Landlord shall maintain all risk property and, if applicable, sprinkler damage insurance covering
the full replacement cost of the Project or such lesser coverage amount as Landlord may elect provided such coverage amount is not less than 90% of such full replacement cost. Landlord shall further procure and maintain commercial general
liability insurance with a single loss limit of not less than $2,000,000 for bodily injury and property damage with respect to the Project. Landlord may, but is not obligated to, maintain such other insurance and additional coverages as it may deem
necessary, including, but not limited to, flood, environmental hazard and earthquake, loss or failure of building equipment, errors and omissions, rental loss during the period of repair or rebuilding, workers’ compensation insurance and
fidelity bonds for employees employed to perform services and insurance for any improvements installed by Tenant or which are in addition to the standard improvements customarily furnished by Landlord without regard to whether or not such are made a
part of the Project. All such insurance shall be included as part of the Operating Expenses. The Project may be included in a blanket policy (in which case the cost of such insurance allocable to the Project will be determined by Landlord based upon
the insurer’s cost calculations). 
 Tenant, at its sole cost and expense, shall maintain during the Term: all risk property insurance
with business interruption and extra expense coverage, covering the full replacement cost of all property and improvements installed or placed in the Premises by Tenant at Tenant’s expense; workers’ compensation insurance with no less than
the minimum limits required by law; employer’s liability insurance with such limits as required by law; and commercial general liability insurance, with a minimum limit of not less than $2,000,000 per occurrence for bodily injury and property
damage with respect to the Premises. The commercial general liability insurance policy shall name Alexandria Real Estate Equities, Inc., and Landlord, its officers, directors, employees, managers, agents, invitees and contractors (collectively,
“Landlord Parties”), as additional insureds; insure on an occurrence and not a claims-made basis; be issued by insurance companies which have a rating of not less than policyholder rating of A and financial category rating of at
least Class X in “Best’s Insurance Guide”; shall not be cancelable for nonpayment of premium unless 30 days prior written notice shall have been given to Landlord from the insurer; contain a hostile fire endorsement and a
contractual liability endorsement; and provide primary coverage to Landlord (any policy issued to Landlord providing duplicate or similar coverage shall be deemed excess over Tenant’s policies). Copies of such policies (if requested by
Landlord), or certificates of insurance showing the limits of coverage required hereunder and showing Landlord as an additional insured, along with reasonable evidence of the payment of premiums for the applicable period, shall be delivered to
Landlord by Tenant upon commencement of the Term and upon each renewal of said insurance. Tenant’s policy may be a “blanket policy” with an aggregate per location endorsement which specifically provides that the amount of insurance
shall not be prejudiced by other losses covered by the policy. Tenant shall, at least 5 days prior to the expiration of such policies, furnish Landlord with renewal certificates. 

In each instance where insurance is to name Landlord as an additional insured, Tenant shall upon written request of Landlord also designate
and furnish certificates so evidencing Landlord as additional insured to: (i) any lender of Landlord holding a security interest in the Project or any portion thereof, (ii) the landlord under any lease wherein Landlord is tenant of the
real property on which the Project is located, if the interest of Landlord is or shall become that of a tenant under a ground or other underlying lease rather than that of a fee owner, and/or (iii) any management company retained by Landlord to
manage the Project. 

 The property insurance obtained by Landlord and Tenant shall include a waiver of subrogation by
the insurers and all rights based upon an assignment from its insured, against Landlord or Tenant, and their respective officers, directors, employees, managers, agents, invitees and contractors (“Related Parties”), in connection
with any loss or damage thereby insured against. Neither party nor its respective Related Parties shall be liable to the other for loss or damage caused by any risk insured against under property insurance required to be maintained hereunder, and
each party waives any claims against the other party, and its respective Related Parties, for such loss or damage. The failure of a party to insure its property shall not void this waiver. Landlord and its respective Related Parties shall not be
liable for, and Tenant hereby waives all claims against such parties for, business interruption and losses occasioned thereby sustained by Tenant or any person claiming through Tenant resulting from any accident or occurrence in or upon the Premises
or the Project from any cause whatsoever. If the foregoing waivers shall contravene any law with respect to exculpatory agreements, the liability of Landlord or Tenant shall be deemed not released but shall be secondary to the other’s insurer.

 Landlord may require insurance policy limits to be raised to conform with requirements of Landlord’s lender and/or to bring coverage
limits to levels then being generally required of new tenants within the Project ; provided, however, that the increased amount of coverage is consistent with coverage amounts then being required by institutional owners of similar projects with
tenants occupying similar size premises in the geographical area in which the Project is located. 

18.    Restoration. If, at any time during the Term, the Project or the Premises are damaged or destroyed by a fire
or other insured casualty, Landlord shall notify Tenant within 60 days after discovery of such damage as to the amount of time Landlord reasonably estimates it will take to restore the Project or the Premises, as applicable (the “Restoration
Period”). If the Restoration Period is estimated to exceed 12 months (the “Maximum Restoration Period”), Landlord may, in such notice, elect to terminate this Lease as of the date that is 75 days after the date of discovery
of such damage or destruction. Unless Landlord so elects to terminate this Lease, Landlord shall, subject to receipt of sufficient insurance proceeds (with any deductible to be treated as a current Operating Expense), promptly restore the Premises
(excluding the improvements installed by Tenant or by Landlord and paid for by Tenant), subject to delays arising from the collection of insurance proceeds or from Force Majeure events; provided, however, that if repair or restoration
of the Premises is not substantially complete as of the end of the Maximum Restoration Period or, if longer, the Restoration Period, Landlord may, in its sole and absolute discretion, elect not to proceed with such repair and restoration, in which
event Landlord shall be relieved of its obligation to make such repairs or restoration and this Lease shall terminate as of the date that is 75 days after the discovery of such damage or destruction, but Landlord shall retain any Rent paid and the
right to any Rent payable by Tenant prior to such election by Landlord or Tenant. 
 Tenant, at its expense, shall promptly perform, subject
to delays arising from the collection of insurance proceeds or from Force Majeure (as defined in Section 34) events, all repairs or restoration not required to be done by Landlord and shall promptly re-enter the Premises and commence doing business in accordance with this Lease. Notwithstanding the foregoing, either Landlord or Tenant may terminate this Lease upon written notice to the other if the Premises are
damaged during the last year of the Term and Landlord reasonably estimates that it will take more than 2 months to repair such damage; provided, however, that such notice is delivered within 10 business days after the date that Landlord provides
Tenant with written notice of the estimated Restoration Period. Landlord shall also have the right to terminate this Lease if insurance proceeds are not available for such restoration. Rent shall be abated from the date of discovery of the damage or
destruction, in the proportion which the area of the Premises, if any, which is not usable by Tenant bears to the total area of the Premises, unless Landlord provides Tenant with other space during the period of repair that is suitable, in
Tenant’s commercially reasonable judgment, for the temporary conduct of Tenant’s business. Such abatement shall be the sole remedy of Tenant, and except as provided in this Section 18, Tenant waives any right to
terminates the Lease by reason of damage or casualty loss. 
 The provisions of this Lease, including this
Section 18, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, or any other portion of the Project, and any statute or
regulation which is now or may hereafter be in effect 

 
shall have no application to this Lease or any damage or destruction to all or any part of the Premises or any other portion of the Project, the parties hereto expressly agreeing that this
Section 18 sets forth their entire understanding and agreement with respect to such matters. 

19.    Condemnation. If the whole or any material part of the Premises or the Project is taken for any public or
quasi-public use under governmental law, ordinance, or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking” or “Taken”), and the Taking would in Landlord’s reasonable
judgment, either prevent or materially interfere with Tenant’s use of the Premises or materially interfere with or impair Landlord’s ownership or operation of the Project, then upon written notice by Landlord this Lease shall terminate and
Rent shall be apportioned as of said date. If part of the Premises shall be Taken, and this Lease is not terminated as provided above, Landlord shall promptly restore the Premises and the Project as nearly as is commercially reasonable under the
circumstances to their condition prior to such partial Taking and the rentable square footage of the Building, the rentable square footage of the Premises, Tenant’s Share of Operating Expenses and the Rent payable hereunder during the unexpired
Term shall be reduced to such extent as may be fair and reasonable under the circumstances. Upon any such Taking, Landlord shall be entitled to receive the entire price or award from any such Taking without any payment to Tenant, and Tenant hereby
assigns to Landlord Tenant’s interest, if any, in such award. Tenant shall have the right, to the extent that same shall not diminish Landlord’s award, to make a separate claim against the condemning authority (but not Landlord) for such
compensation as may be separately awarded or recoverable by Tenant for moving expenses and damage to Tenant’s trade fixtures, if a separate award for such items is made to Tenant. Tenant hereby waives any and all rights it might otherwise have
pursuant to any provision of state law to terminate this Lease upon a partial Taking of the Premises or the Project. 

20.    Events of Default. Each of the following events shall be a default (“Default”) by Tenant
under this Lease: 
 (a)    Payment Defaults. Tenant shall fail to pay any installment of Rent or any other
payment hereunder when due; provided, however, that Landlord will give Tenant notice and an opportunity to cure any failure to pay Rent within 3 days of any such notice not more than once in any 12 month period and Tenant agrees that such notice
shall be in lieu of and not in addition to, or shall be deemed to be, any notice required by law. 

(b)    Insurance. Any insurance required to be maintained by Tenant pursuant to this Lease shall be canceled or
terminated or shall expire or shall be reduced or materially changed, or Landlord shall receive a notice of nonrenewal of any such insurance and Tenant shall fail to obtain replacement insurance at least 20 days before the expiration of the current
coverage. 
 (c)    Abandonment. Tenant shall abandon the Premises. 

(d)    Improper Transfer. Tenant shall assign, sublease or otherwise transfer or attempt to transfer all or any
portion of Tenant’s interest in this Lease or the Premises except as expressly permitted herein, or Tenant’s interest in this Lease shall be attached, executed upon, or otherwise judicially seized and such action is not released within 90
days of the action. 
 (e)    Liens. Tenant shall fail to discharge or otherwise obtain the release of any lien
placed upon the Premises in violation of this Lease within 10 business days after any such lien is filed against the Premises. 

(f)    Insolvency Events. Tenant or any guarantor or surety of Tenant’s obligations hereunder shall:
(A) make a general assignment for the benefit of creditors; (B) commence any case, proceeding or other action seeking to have an order for relief entered on its behalf as a debtor or to adjudicate it a bankrupt or insolvent, or seeking
reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or of any substantial part of its property
(collectively a “Proceeding for Relief’); (C) become the subject of any Proceeding for Relief which is not dismissed within 90 days of its filing or entry; or (D) die or suffer a legal disability (if Tenant, guarantor, or
surety is an individual) or be dissolved or otherwise fail to maintain its legal existence (if Tenant, guarantor or surety is a corporation, partnership or other entity). 

 (g)    Estoppel Certificate or Subordination Agreement. Tenant fails
to execute any document required from Tenant under Sections 23 or 27 within 5 business days after a second notice requesting such document. 

(h)    Other Defaults. Tenant shall fail to comply with any provision of this Lease other than those specifically
referred to in this Section 20, and, except as otherwise expressly provided herein, such failure shall continue for a period of 30 days after written notice thereof from Landlord to Tenant; provided that if the
nature of Tenant’s default pursuant to this Section 20(h) is such that it cannot be cured by the payment of money and reasonably requires more than 30 days to cure, then Tenant shall not be deemed to be in default if
Tenant commences such cure within said 30 day period and thereafter diligently prosecutes the same to completion; provided, however, that such cure shall be completed no later than 60 days from the date of Landlord’s notice. 

Any notice given under Section 20(h) hereof shall: (i) specify the alleged default, (ii) demand that Tenant cure such
default, (iii) be in lieu of, and not in addition to, or shall be deemed to be, any notice required under any provision of applicable law, and (iv) not be deemed a forfeiture or a termination of this Lease unless Landlord elects otherwise
in such notice. 
 21.    Landlord’s Remedies. 

(a)    Payment By Landlord; Interest. Upon a Default by Tenant hereunder, Landlord may, without waiving or releasing
any obligation of Tenant hereunder, make such payment or perform such act. All sums so paid or incurred by Landlord, together with interest thereon, from the date such sums were paid or incurred, at the annual rate equal to 12% per annum or the
highest rate permitted by law (the “Default Rate”), whichever is less, shall be payable to Landlord on demand as Additional Rent. Nothing herein shall be construed to create or impose a duty on Landlord to mitigate any damages
resulting from Tenant’s Default hereunder. 
 (b)    Late Payment Rent. Late payment by Tenant to Landlord
of Rent and other sums due will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such costs include, but are not limited to, processing and accounting
charges and late charges which may be imposed on Landlord under any Mortgage covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 business days after the date such payment is due, Tenant
shall pay to Landlord an additional sum equal to 6% of the overdue Rent as a late charge. Notwithstanding the foregoing, before assessing a late charge the first time in any calendar year, Landlord shall provide Tenant written notice of the
delinquency and will waive the right if Tenant pays such delinquency within 5 days thereafter. The parties agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In
addition to the late charge, Rent not paid when due shall bear interest at the Default Rate from the 5th day after the date due until paid. 

(c)    Remedies. Upon the occurrence of a Default, Landlord, at its option, without further notice or demand to
Tenant, shall have in addition to all other rights and remedies provided in this Lease, at law or in equity, the option to pursue any one or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any
notice or demand whatsoever. 
 (i)    Terminate this Lease, or at Landlord’s option, Tenant’s
right to possession only, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have for possession or arrearages in rent, enter
upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim or damages therefor; 

 (ii)    Upon any termination of this Lease, whether pursuant
to the foregoing Section 21(c)(i) or otherwise, Landlord may recover from Tenant the following: 

(A)    The worth at the time of award of any unpaid rent which has been earned at the time of such
termination; plus 
 (B)    The worth at the time of award of the amount by which the unpaid rent which
would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 

(C)    The worth at the time of award of the amount by which the unpaid rent for the balance of the Term
after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 

(D)    Any other amount necessary to compensate Landlord for all the detriment proximately caused by
Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, specifically including, but not limited to, brokerage commissions and advertising expenses incurred,
expenses of remodeling the Premises or any portion thereof for a new tenant, whether for the same or a different use, and any special concessions made to obtain a new tenant; and 

(E)    At Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be
permitted from time to time by applicable law. 
 The term “rent” as used in this Section 21 shall be deemed to
be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of
award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the
discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%. 

(iii)    Landlord may continue this Lease in effect after Tenant’s Default and recover rent as it
becomes due (Landlord and Tenant hereby agreeing that Tenant has the right to sublet or assign hereunder, subject only to reasonable limitations). Accordingly, if Landlord does not elect to terminate this Lease following a Default by Tenant,
Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover all Rent as it becomes due. 

(iv)    Whether or not Landlord elects to terminate this Lease following a Default by Tenant, Landlord
shall have the right to terminate any and all subleases, licenses, concessions or other consensual arrangements for possession entered into by Tenant and affecting the Premises or may, in Landlord’s sole discretion, succeed to Tenant’s
interest in such subleases, licenses, concessions or arrangements. Upon Landlord’s election to succeed to Tenant’s interest in any such subleases, licenses, concessions or arrangements, Tenant shall, as of the date of notice by Landlord of
such election, have no further right to or interest in the rent or other consideration receivable thereunder. 

(v)    Independent of the exercise of any other remedy of Landlord hereunder or under applicable law,
Landlord may conduct an environmental test of the Premises as generally described in Section 30(c) hereof, at Tenant’s expense. 

(d)    Effect of Exercise. Exercise by Landlord of any remedies hereunder or otherwise available shall not be
deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, it being understood that such surrender and/or termination can be effected only by the express written agreement of Landlord and Tenant. Any law,
usage, or custom to the contrary 

 
notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce
its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same and shall not
be deemed a waiver of Landlord’s right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of Rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a
waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of
Landlord’s intention to re-enter, re-take or otherwise obtain possession of the Premises as provided in any statute, or to institute legal proceedings to that end,
and also waives all right of redemption in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge. Any reletting of the Premises or any portion thereof shall be on such terms and conditions as Landlord in its sole
discretion may determine. Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or collect rent due in respect of such reletting or otherwise to
mitigate any damages arising by reason of Tenant’s Default. 
 22.    Assignment and Subletting. 

(a)    General Prohibition. Without Landlord’s prior written consent subject to and on the conditions described
in this Section 22, Tenant shall not, directly or indirectly, voluntarily or by operation of law, assign this Lease or sublease the Premises or any part thereof or mortgage, pledge, or hypothecate its leasehold interest or
grant any concession or license within the Premises, and any attempt to do any of the foregoing shall be void and of no effect. If Tenant is a corporation, partnership or limited liability company, the shares or other ownership interests thereof
which are not actively traded upon a stock exchange or in the over-the-counter market, a transfer or series of transfers whereby 25% or more of the issued and
outstanding shares or other ownership interests of such corporation are, or voting control is, transferred (but excepting transfers upon deaths of individual owners) from a person or persons or entity or entities which were owners thereof at time of
execution of this Lease to persons or entities who were not owners of shares or other ownership interests of the corporation, partnership or limited liability company at time of execution of this Lease, shall be deemed an assignment of this Lease
requiring the consent of Landlord as provided in this Section 22. 
 (b)    Permitted Transfers. If Tenant
desires to assign, sublease, hypothecate or otherwise transfer this Lease or sublet the Premises, other than pursuant to a Permitted Assignment (as defined below), then at least 15 business days, but not more than 45 business days, before the date
Tenant desires the assignment or sublease to be effective (the “Assignment Date”), Tenant shall give Landlord a notice (the “Assignment Notice”) containing such information about the proposed assignee or sublessee,
including the proposed use of the Premises and any Hazardous Materials proposed to be used, stored handled, treated, generated in or released or disposed of from the Premises, the Assignment Date, any relationship between Tenant and the proposed
assignee or sublessee, and all material terms and conditions of the proposed assignment or sublease, including a copy of any proposed assignment or sublease in its final form, and such other information as Landlord may deem reasonably necessary or
appropriate to its consideration whether to grant its consent. Landlord may, by giving written notice to Tenant within 15 business days after receipt of the Assignment Notice: (i) grant such consent, (ii) refuse such consent, in its reasonable
discretion; or (Hi) terminate this Lease with respect to the space described in the Assignment Notice as of the Assignment Date (an “Assignment Termination”). Among other reasons, it shall be reasonable for Landlord to withhold its
consent in any of these instances: (1) the proposed assignee or subtenant is a governmental agency; (2) in Landlord’s reasonable judgment, the use of the Premises by the proposed assignee or subtenant would entail any alterations that would
lessen the value of the leasehold improvements in the Premises, or would require increased services by Landlord; (3) in Landlord’s reasonable judgment, the proposed assignee or subtenant lacks the creditworthiness to support the financial
obligations it will incur under the proposed assignment or sublease; (4) in Landlord’s reasonable judgment, the character, reputation, or business of the proposed assignee or subtenant is inconsistent with the desired tenant-mix or the quality
of other tenancies in the Project or is inconsistent with the type and quality of the nature of the Building; (5) Landlord has received from any prior landlord to the proposed 

 
assignee or subtenant a negative report concerning such prior landlord’s experience with the proposed assignee or subtenant; (6) Landlord has experienced previous defaults by or is in
litigation with the proposed assignee or subtenant; (7) the use of the Premises by the proposed assignee or subtenant will violate any applicable Legal Requirement; (8) [intentionally omitted]; (9) the proposed assignee or subtenant is an
entity with whom Landlord is negotiating to lease space in the Project; or (10) the assignment or sublease is prohibited by Landlord’s lender. If Landlord delivers notice of its election to exercise an Assignment Termination, Tenant shall
have the right to withdraw such Assignment Notice by written notice to Landlord of such election within 5 business days after Landlord’s notice electing to exercise the Assignment Termination. If Tenant withdraws such Assignment Notice, this
Lease shall continue in full force and effect. If Tenant does not withdraw such Assignment Notice, this Lease, and the term and estate herein granted, shall terminate as of the Assignment Date with respect to the space described in such Assignment
Notice. No failure of Landlord to exercise any such option to terminate this Lease, or to deliver a timely notice in response to the Assignment Notice, shall be deemed to be Landlord’s consent to the proposed assignment, sublease or other
transfer. Tenant shall pay to Landlord a fee equal to One Thousand Five Hundred Dollars ($1,500) in connection with its consideration of any Assignment Notice and/or its preparation or review of any consent documents. Notwithstanding the foregoing,
Landlord’s consent to an assignment of this Lease or a subletting of any portion of the Premises to any entity controlling, controlled by or under common control with Tenant (a “Control Permitted Assignment”) shall not be
required, provided that Landlord shall have the right to approve the form of any such sublease or assignment. In addition, Tenant shall have the right to assign this Lease, upon 30 days prior written notice to Landlord (unless Tenant is prohibited
from providing such notice by confidentiality or Legal Requirements in which case Tenant shall notify Landlord promptly thereafter) but without obtaining Landlord’s prior written consent, to a corporation or other entity which is a successor-in-interest to Tenant, by way of merger, consolidation or corporate reorganization, or by the purchase of all or substantially all of the assets or the ownership
interests of Tenant provided that (i) such merger or consolidation, or such acquisition or assumption, as the case may be, is for a good business purpose and not principally for the purpose of transferring the Lease, and (ii) the net worth
(as determined in accordance with generally accepted accounting principles (“GAAP”)) of the assignee is not less than the greater of the net worth (as determined in accordance with GAAP) of Tenant as of (A) the Commencement
Date, or (B) as of the date of Tenant’s most current quarterly or annual financial statements, and (Hi) such assignee shall agree in writing to assume all of the terms, covenants and conditions of this Lease arising after the effective
date of the assignment (a “Corporate Permitted Assignment”). Control Permitted Assignments and Corporate Permitted Assignments are hereinafter referred to as “Permitted Assignments.” 

(c)    Additional Conditions. As a condition to any such assignment or subletting, whether or not Landlord’s
consent is required, Landlord may require: 
 (i)    that any assignee or subtenant agree, in writing at
the time of such assignment or subletting, that if Landlord gives such party notice that Tenant is in default under this Lease, such party shall thereafter make all payments otherwise due Tenant directly to Landlord, which payments will be received
by Landlord without any liability except to credit such payment against those due under the Lease, and any such third party shall agree to attorn to Landlord or its successors and assigns should this Lease be terminated for any reason;
provided, however, in no event shall Landlord or its successors or assigns be obligated to accept such attornment; and 

(ii)    A list of Hazardous Materials, certified by the proposed assignee or sublessee to be true and
correct, which the proposed assignee or sublessee intends to use, store, handle, treat, generate in or release or dispose of from the Premises, together with copies of all documents relating to such use, storage, handling, treatment, generation,
release or disposal of Hazardous Materials by the proposed assignee or subtenant in the Premises or on the Project, prior to the proposed assignment or subletting, including, without limitation: permits; approvals; reports and correspondence;
storage and management plans; plans relating to the installation of any storage tanks to be installed in or under the Project (provided, said installation of tanks shall only be permitted after Landlord has given its written consent to do so, which
consent may be withheld in Landlord’s sole and absolute discretion); and all closure plans or any other documents required by any and all federal, state and local Governmental Authorities for any storage tanks installed in, on

 
or under the Project for the closure of any such tanks. Neither Tenant nor any such proposed assignee or subtenant is required, however, to provide Landlord with any portion(s) of the such
documents containing information of a proprietary nature which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous activities. The provisions of this cause (ii) shall not apply if the Proposed Use of the
proposed assignee or sublicense is purely an office use at the time of the proposed assignment or sublease. 

(d)    No Release of Tenant, Sharing of Excess Rents. Notwithstanding any assignment or subletting, Tenant and any
guarantor or surety of Tenant’s obligations under this Lease shall at all times remain fully and primarily responsible and liable for the payment of Rent and for compliance with all of Tenant’s other obligations under this Lease. If the
Rent due and payable by a sublessee or assignee (or a combination of the rental payable under such sublease or assignment plus any bonus or other consideration therefor or incident thereto in any form) exceeds the sum of the rental payable under
this Lease, (excluding however, any Rent payable under this Section) and actual and reasonable fees, commissions, costs and expenses related to and required pursuant to any such sublease (“Excess Rent”), then Tenant shall be bound
and obligated to pay Landlord as Additional Rent hereunder 50% of such Excess Rent within 10 business days following receipt thereof by Tenant. If Tenant shall sublet the Premises or any part thereof, Tenant hereby immediately and irrevocably
assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any such subletting, and Landlord as assignee and as attorney-in-fact for
Tenant, or a receiver for Tenant appointed on Landlord’s application, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of a Default, Tenant shall have the right to collect
such rent. 
 (e)    No Waiver. The consent by Landlord to an assignment or subletting shall not relieve Tenant
or any assignees of this Lease or any sublessees of the Premises from obtaining the consent of Landlord to any further assignment or subletting nor shall it release Tenant or any assignee or sublessee of Tenant from full and primary liability under
the Lease. The acceptance of Rent hereunder, or the acceptance of performance of any other term, covenant, or condition thereof, from any other person or entity shall not be deemed to be a waiver of any of the provisions of this Lease or a consent
to any subletting, assignment or other transfer of the Premises. 
 23.    Estoppel Certificate. Tenant shall,
within 10 business days of written notice from Landlord, execute, acknowledge and deliver a statement in writing in any form reasonably requested by a proposed lender or purchaser, (i) certifying that this Lease is unmodified and in full force
and effect (or, if modified, stating the nature of such modification and certifying that this Lease as so modified is in full force and effect) and the dates to which the rental and other charges are paid in advance, if any, (ii) acknowledging
that there are not any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any are claimed, and (iii) setting forth such further information with respect to the status of this Lease or the Premises as may be
requested thereon. Any such statement may be relied upon by any prospective purchaser or encumbrancer of all or any portion of the real property of which the Premises are a part. Tenant’s failure to deliver such statement within such time
shall, at the option of Landlord, constitute a Default under this Lease, and, in any event, shall be conclusive upon Tenant that the Lease is in full force and effect and without modification except as may be represented by Landlord in any
certificate prepared by Landlord and delivered to Tenant for execution. 
 24.    Quiet Enjoyment. So long as
Tenant is not in Default under this Lease, Tenant shall, subject to the terms of this Lease, at all times during the Term, have peaceful and quiet enjoyment of the Premises against any person claiming by, through or under Landlord. 

25.    Prorations. All prorations required or permitted to be made hereunder shall be made on the basis of a 360
day year and 30 day months. 
 26.    Rules and Regulations. Tenant shall, at all times during the Term and any
extension thereof, comply with all reasonable rules and regulations at any time or from time to time established by Landlord covering use of the Premises and the Project. The current rules and regulations are attached hereto as Exhibit E. If
there is any conflict between said rules and regulations and other provisions of this 

 
Lease, the terms and provisions of this Lease shall control. Landlord shall not have any liability or obligation for the breach of any rules or regulations by other tenants in the Project and
shall not enforce such rules and regulations in a discriminatory manner. 
 27.    Subordination. This Lease and
Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements,
renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder,
Tenant’s right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute,
acknowledge and deliver such instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate
non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time
subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and
in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term
“Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the
beneficiary under a deed of trust. 
 28.    Surrender. Upon the expiration of the Term or earlier termination of
Tenant’s right of possession, Tenant shall surrender the Premises to Landlord in as good a condition as when received, subject to any Alterations or Installations permitted by Landlord to remain in the Premises, free of Hazardous Materials
brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from, the Premises by any person other than a Landlord Party (collectively, “Tenant HazMat Operations”), broom clean, ordinary wear and
tear and casualty loss and condemnation covered by Sections 18 and 19 excepted. 
 Tenant shall immediately return to Landlord
all keys and/or access cards to parking, the Project, restrooms or all or any portion of the Premises furnished to or otherwise procured by Tenant. If any such access card or key is lost, Tenant shall pay to Landlord, at Landlord’s election,
either the cost of replacing such lost access card or key or the cost of reprogramming the access security system in which such access card was used or changing the lock or locks opened by such lost key. Any Tenant’s Property, Alterations and
property not so removed by Tenant as permitted or required herein shall be deemed abandoned and may be stored, removed, and disposed of by Landlord at Tenant’s expense, and Tenant waives all claims against Landlord for any damages resulting
from Landlord’s retention and/or disposition of such property. All obligations of Tenant hereunder not fully performed as of the termination of the Term, including the obligations of Tenant under Section 30 hereof,
shall survive the expiration or earlier termination of the Term, including, without limitation, indemnity obligations, payment obligations with respect to Rent and obligations concerning the condition and repair of the Premises. 

29.    Waiver of Jury Trial. TO THE EXTENT PERMITTED BY LAW, TENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL BY JURY
OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING OUT OF THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION
HEREWITH OR THE TRANSACTIONS RELATED HERETO. 
 30.    Environmental Requirements. 

(a)    Prohibition/Compliance. Except for Hazardous Material contained in products customarily used by tenants in de
minimis quantities for ordinary cleaning and office purposes, Tenant shall not permit or cause any party to bring any Hazardous Material upon the Premises or the Project or use, 

 
store, handle, treat, generate, manufacture, transport, release or dispose of any Hazardous Material in, on or from the Premises or the Project without Landlord’s prior written consent which
may be withheld in Landlord’s sole discretion. Tenant, at its sole cost and expense, shall operate its business in the Premises in strict compliance with all Environmental Requirements and shall remove or remediate in a manner satisfactory to
Landlord any Hazardous Materials released on or from the Project by Tenant or any Tenant Party. Tenant shall complete and certify disclosure statements as requested by Landlord from time to time relating to Tenant’s use, storage, handling,
treatment, generation, manufacture, transportation, release or disposal of Hazardous Materials on or from the Premises, if any. The term “Environmental Requirements” means all applicable present and future statutes, regulations,
ordinances, rules, codes, judgments, orders or other similar enactments of any Governmental Authority regulating or relating to health, safety, or environmental conditions on, under, or about the Premises or the Project, or the environment,
including without limitation, the following: the Comprehensive Environmental Response, Compensation and Liability Act; the Resource Conservation and Recovery Act; and all state and local counterparts thereto, and any regulations or policies
promulgated or issued thereunder. The term “Hazardous Materials” means and includes any substance, material, waste, pollutant, or contaminant listed or defined as hazardous or toxic, or regulated by reason of its impact or potential
impact on humans, animals and/or the environment under any Environmental Requirements, asbestos and petroleum, including crude oil or any fraction thereof, natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel (or mixtures of
natural gas and such synthetic gas). As defined in Environmental Requirements, Tenant is and shall be deemed to be the “operator” of Tenant’s “facility” and the “owner” of all Hazardous Materials
brought on the Premises by Tenant or any Tenant Party, and the wastes, by-products, or residues generated, resulting, or produced therefrom. 

(b)    Indemnity. Tenant hereby indemnifies and shall defend and hold Landlord, its officers, directors, employees,
agents and contractors harmless from any and all actions (including, without limitation, remedial or enforcement actions of any kind, administrative or judicial proceedings, and orders or judgments arising out of or resulting therefrom), costs,
claims, damages (including, without limitation, punitive damages and damages based upon diminution in value of the Premises or the Project, or the loss of, or restriction on, use of the Premises or any portion of the Project), expenses (including,
without limitation, attorneys’, consultants’ and experts’ fees, court costs and amounts paid in settlement of any claims or actions), fines, forfeitures or other civil, administrative or criminal penalties, injunctive or other relief
(whether or not based upon personal injury, property damage, or contamination of, or adverse effects upon, the environment, water tables or natural resources), liabilities or losses (collectively, “Environmental Claims”) which arise
during or after the Term as a result of contamination caused by or contributed to by Tenant or any Tenant Party. This indemnification of Landlord by Tenant includes, without limitation, costs incurred in connection with any investigation of site
conditions or any cleanup, remedial, removal, or restoration work required by any federal, state or local Governmental Authority because of Hazardous Materials present in the air, soil or ground water above, on, or under the Premises. Without
limiting the foregoing, if the presence of any Hazardous Materials on the Premises, the Project or any adjacent property caused or permitted by Tenant or any Tenant Party results in any contamination of the Premises, the Project or any adjacent
property, Tenant shall promptly take all actions at its sole expense and in accordance with applicable law as are necessary to return the Premises, the Project or any adjacent property to the condition existing prior to the time of such
contamination, provided that Landlord’s approval of such action shall first be obtained, which approval shall not unreasonably be withheld so long as such actions would not potentially have any material adverse long-term or short-term effect on
the Premises or the Project. Notwithstanding anything to the contrary contained in this Section 30, Tenant shall not be responsible for, and the indemnification and hold harmless obligation set forth in this paragraph shall
not apply to (i) contamination in the Premises which Tenant can prove existed in the Premises immediately prior to the Commencement Date, or (ii) the presence of any Hazardous Materials in the Premises which Tenant can prove migrated from
outside of the Premises into the Premises, unless in either case, the presence of such Hazardous Materials (x) is the result of a breach by Tenant of any of its obligations under this Lease, or (y) was caused, contributed to or exacerbated
by Tenant or any Tenant Party. 
 (c)    Landlord’s Tests. Landlord shall have access to, and a right to
perform inspections and tests of, the Premises to determine Tenant’s compliance with Environmental Requirements, its obligations under this Section 30, or the environmental condition of the Premises or the Project. In
connection with 

 
such testing, upon the request of Landlord, Tenant shall deliver to Landlord or its consultant such non-proprietary information concerning the use of
Hazardous Materials in or about the Premises by Tenant or any Tenant Party, if any. Access shall be granted to Landlord upon Landlord’s prior notice to Tenant and at such times so as to minimize, so far as may be reasonable under the
circumstances, any disturbance to Tenant’s operations. Such inspections and tests shall be conducted at Landlord’s expense, unless such inspections or tests reveal that Tenant has not complied with any Environmental Requirement, in which
case Tenant shall reimburse Landlord for the reasonable cost of such inspection and tests. Tenant shall, at its sole cost and expense, promptly and satisfactorily remediate any environmental conditions for which Tenant is responsible pursuant to
this Section 30 and identified by such testing in accordance with all Environmental Requirements. Landlord’s receipt of or satisfaction with any environmental assessment in no way waives any rights that Landlord may
have against Tenant. 
 (d)    Tenant’s Obligations. Tenant’s obligations under this
Section 30 shall survive the expiration or earlier termination of the Lease. During any period of time after the expiration or earlier termination of this Lease required by Tenant or Landlord to complete the removal from
the Premises of any Hazardous Materials for which Tenant is responsible under the terms of this Lease, if any (including, without limitation, the release and termination of any licenses or permits restricting the use of the Premises), Tenant shall
continue to pay the full Rent in accordance with this Lease for any portion of the Premises which cannot be relet by Landlord because of Tenant’s failure to complete such removal, which Rent shall be prorated daily. 

31.    Tenant’s Remedies/Limitation of Liability. Landlord shall not be in default hereunder unless Landlord
fails to perform any of its obligations hereunder within 30 days after written notice from Tenant specifying such failure (unless such performance will, due to the nature of the obligation, require a period of time in excess of 30 days, then after
such period of time as is reasonably necessary). Upon any default by Landlord, Tenant shall give notice by registered or certified mail to any Holder of a Mortgage covering the Premises and to any landlord of any lease of property in or on which the
Premises are located and Tenant shall offer such Holder and/or landlord a reasonable opportunity to cure the default. including time to obtain possession of the Project by power of sale or a judicial action if such should prove necessary to effect a
cure; provided Landlord shall have furnished to Tenant in writing the names and addresses of all such persons who are to receive such notices. All obligations of Landlord hereunder shall be construed as covenants, not conditions; and, except
as may be otherwise expressly provided in this Lease, Tenant may not terminate this Lease for breach of Landlord’s obligations hereunder. 

All obligations of Landlord under this Lease will be binding upon Landlord only during the period of its ownership of the Premises and not
thereafter. The term “Landlord” in this Lease shall mean only the owner for the time being of the Premises. Upon the transfer by such owner of its interest in the Premises, such owner shall thereupon be released and discharged from
all obligations of Landlord thereafter accruing, but such obligations shall be binding during the Term upon each new owner for the duration of such owner’s ownership. 

32.    Inspection and Access. Landlord and its agents, representatives, and contractors may enter the Premises at
any reasonable time to inspect the Premises and to make such repairs as may be required or permitted pursuant to this Lease and for any other business purpose. Landlord and Landlord’s representatives may enter the Premises during business hours
on not less than 48 hours advance written notice (except in the case of emergencies in which case no such notice shall be required and such entry may be at any time) for the purpose of effecting any such repairs, inspecting the Premises, showing the
Premises to prospective purchasers and, during the last year of the Term, to prospective tenants or for any other business purpose. Landlord may erect a suitable sign on the Premises stating the Premises are available to let or that the Project is
available for sale. Landlord may grant easements, make public dedications, designate Common Areas and create restrictions on or about the Premises, provided that no such easement, dedication, designation or restriction materially, adversely
affects Tenant’s use or occupancy of the Premises for the Permitted Use. At Landlord’s request, Tenant shall execute such instruments as may be necessary for such easements, dedications or restrictions, provided that such items do not
impose any financial or other material burden on Tenant. Tenant shall at all times, except in the case of emergencies, have the right to escort Landlord or its agents, representatives, contractors or guests while the same are in the Premises,
provided such escort does not materially and adversely affect Landlord’s access rights hereunder. 

 33.    Security. Tenant acknowledges and agrees that security devices
and services, if any, while intended to deter crime may not in given instances prevent theft or other criminal acts and that Landlord is not providing any security services with respect to the Premises. Tenant agrees that Landlord shall not be
liable to Tenant for, and Tenant waives any claim against Landlord with respect to, any loss by theft or any other damage suffered or incurred by Tenant in connection with any unauthorized entry into the Premises or any other breach of security with
respect to the Premises. Tenant shall be solely responsible for the personal safety of Tenant’s officers, employees, agents, contractors, guests and invitees while any such person is in, on or about the Premises and/or the Project. Tenant shall
at Tenant’s cost obtain insurance coverage to the extent Tenant desires protection against such criminal acts. 

34.    Force Majeure. Neither party shall be held responsible or liable for delays in the performance of its
obligations hereunder (other than Tenant’s obligation to pay Rent) when caused by, related to, or arising out of acts of God, sinkholes or subsidence, strikes, lockouts, or other labor disputes, embargoes, quarantines, weather, national,
regional, or local disasters, calamities, or catastrophes, inability to obtain labor or materials (or reasonable substitutes therefor) at reasonable costs or failure of, or inability to obtain, utilities necessary for performance, governmental
restrictions, orders, limitations, regulations, or controls, national emergencies, delay in issuance or revocation of permits, enemy or hostile governmental action, terrorism, insurrection, riots, civil disturbance or commotion, fire or other
casualty, and other causes or events beyond their reasonable control (“Force Majeure”). 

35.    Brokers. Landlord and Tenant each represents and warrants that it has not dealt with any broker, agent or
other person (collectively, “Broker”) in connection with this transaction and that no Broker brought about this transaction, other than Colliers International and Cornish & Carey Commercial/NKF. Landlord and Tenant each
hereby agree to indemnify and hold the other harmless from and against any claims by any Broker, other than the Broker, if any named in this Section 35, claiming a commission or other form of compensation by virtue of having dealt with Tenant
or Landlord, as applicable, with regard to this leasing transaction. Landlord shall pay any commission due to Colliers International and Cornish & Carey Commercial/NKF pursuant to separate written agreements between Landlord, and Colliers
International and Cornish & Carey Commercial/NKF, respectively. 
 36.    Limitation on Landlord’s
Liability. NOTWITHSTANDING ANYTHING SET FORTH HEREIN OR IN ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT TO THE CONTRARY: (A) LANDLORD SHALL NOT BE LIABLE TO TENANT OR ANY OTHER PERSON FOR (AND TENANT AND EACH SUCH OTHER PERSON ASSUME ALL
RISK OF) LOSS, DAMAGE OR INJURY, WHETHER ACTUAL OR CONSEQUENTIAL TO: TENANT’S PERSONAL PROPERTY OF EVERY KIND AND DESCRIPTION, INCLUDING, WITHOUT LIMITATION TRADE FIXTURES, EQUIPMENT, INVENTORY, SCIENTIFIC RESEARCH, SCIENTIFIC EXPERIMENTS,
LABORATORY ANIMALS, PRODUCT, SPECIMENS, SAMPLES, AND/OR SCIENTIFIC, BUSINESS, ACCOUNTING AND OTHER RECORDS OF EVERY KIND AND DESCRIPTION KEPT AT THE PREMISES AND ANY AND ALL INCOME DERIVED OR DERIVABLE THEREFROM; (B) THERE SHALL BE NO PERSONAL
RECOURSE TO LANDLORD FOR ANY ACT OR OCCURRENCE IN, ON OR ABOUT THE PREMISES OR ARISING IN ANY WAY UNDER THIS LEASE OR ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT WITH RESPECT TO THE SUBJECT MATTER HEREOF AND ANY LIABILITY OF LANDLORD HEREUNDER
SHALL BE STRICTLY LIMITED SOLELY TO LANDLORD’S INTEREST IN THE PROJECT OR ANY PROCEEDS FROM SALE OR CONDEMNATION THEREOF AND ANY INSURANCE PROCEEDS PAYABLE IN RESPECT OF LANDLORD’S INTEREST IN THE PROJECT OR IN CONNECTION WITH ANY SUCH
LOSS; AND (C) IN NO EVENT SHALL ANY PERSONAL LIABILITY BE ASSERTED AGAINST LANDLORD IN CONNECTION WITH THIS LEASE NOR SHALL ANY RECOURSE BE HAD TO ANY OTHER PROPERTY OR ASSETS OF LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS,
EMPLOYEES, AGENTS OR CONTRACTORS. UNDER NO CIRCUMSTANCES SHALL LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS BE LIABLE FOR INJURY TO TENANT’S BUSINESS OR FOR ANY LOSS OF INCOME OR PROFIT THEREFROM.

 37.    Severability. If any clause or provision of this Lease is
illegal, invalid or unenforceable under present or future laws, then and in that event, it is the intention of the parties hereto that the remainder of this Lease shall not be affected thereby. It is also the intention of the parties to this Lease
that in lieu of each clause or provision of this Lease that is illegal, invalid or unenforceable, there be added, as a part of this Lease, a clause or provision as similar in effect to such illegal, invalid or unenforceable clause or provision as
shall be legal, valid and enforceable. 
 38.    Signs; Exterior Appearance. Tenant shall not, without the prior
written consent of Landlord, which may be granted or withheld in Landlord’s sole discretion: (i) attach any awnings, exterior lights, decorations, balloons, flags, pennants, banners, painting or other projection to any outside wall of the
Project, (ii) use any curtains, blinds, shades or screens other than Landlord’s standard window coverings, (Hi) coat or otherwise sunscreen the interior or exterior of any windows, (iv) place any bottles, parcels, or other articles on
the window sills, (v) place any equipment, furniture or other items of personal property on any exterior balcony, or (vi) paint, affix or exhibit on any part of the Premises or the Project any signs, notices, window or door lettering,
placards, decorations, or advertising media of any type which can be viewed from the exterior of the Premises. Tenant shall be entitled suite entry signage (including signage to be located at the top of the stairs from the first floor of the
Building leading into the Premises) and the directory tablet. Tenant’s suite entry signage and the directory tablet shall be inscribed, painted or affixed for Tenant by Landlord at the sole cost and expense of Tenant, and shall be of a size,
color and type acceptable to Landlord. Nothing may be placed on the exterior of corridor walls or corridor doors other than Landlord’s standard lettering. The directory tablet shall be provided exclusively for the display of the name and
location of tenants. 
 Tenant shall have the exclusive right to display, at Tenant’s sole cost and expense, one sign on the exterior
of the 2nd floor of the Building bearing Tenant’s name and logo facing Highway 101, and one sign on the exterior of the 2nd floor of the Building bearing Tenant’s name and logo on either
the north or south face of the Building, as selected by Tenant (“Building Sign(s)”), and, subject to regulations imposed by the City of Palo Alto, Landlord shall cause any trees which impair the visibility of Tenant’s Building
Signs from Highway 101 to be trimmed. Tenant acknowledges that a future tenant in the Building may have the right to place a building sign on the remaining face of the Building which does not have one of Tenant’s Building Signs. Tenant shall
also have the non-exclusive right to display, at Tenant’s sole cost and expense, Tenant’s name on the monument sign at the Project (“Monument Sign”). Tenant further acknowledges and
agrees that Tenant’s signage on the Monument Sign and the Building Sign including, without limitation, the location, size, color and type, shall be subject to Landlord’s prior written approval, which shall not be unreasonably withheld and
shall be consistent with Landlord’s signage program at the Project and applicable Legal Requirements and in no event shall Tenant be entitled to more than Tenant’s pro rata share of any such signage. Tenant shall be responsible, at
Tenant’s sole cost and expense, for the maintenance of Tenant’s signage on the Monument Sign and the Building Sign, for the removal of Tenant’s signage from the Monument Sign and the Building Sign at the expiration or earlier
termination of this Lease and for the repair all damage resulting from such removal. 
 39.    Right to Expand.

 (a)    Right of First Refusal. Each time during the Term that Landlord intends to accept a written proposal
(the “Pending Deal”) to lease the ROFR Space (as hereinafter defined) to a third party, Landlord shall deliver to Tenant written notice (the “Pending Deal Notice”) of the existence of such Pending Deal. For purposes
of this Section 39(a), “ROFR Space” shall mean any space on the first floor of the Building, which is not occupied by a tenant or which is occupied by a then existing tenant whose lease is expiring within 9 months
or less and such tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. Tenant shall be entitled to exercise its right under this Section 39(a) only with respect to the
entire ROFR Space described in such Pending Deal Notice. Within 10 days after Tenant’s receipt of the Pending Deal Notice, Tenant shall deliver to Landlord written notice (the “Space Acceptance Notice”) if Tenant elects to
lease the ROFR Space. Tenant’s right to receive the Pending Deal Notice and election to lease or not lease the ROFR Space pursuant to this Section 39(a) is hereinafter referred to as the “Right of First
Refusal.” If Tenant elects to lease the ROFR Space described in the Pending Deal Notice by delivering the Space Acceptance Notice within the required 10 day period, Tenant 

 shall be deemed to agree to lease the ROFR Space on the same general terms and conditions as this Lease except
that the terms of this Lease shall be modified to reflect the terms of the Pending Deal Notice for the rental of the ROFR Space. Tenant acknowledges that the term of the Lease with respect to the ROFR Space and the Term of the Lease with respect to
the then-existing Premises may not be co-terminous. Notwithstanding anything to the contrary contained herein, in no event shall the Work Letter apply to the ROFR Space. If Tenant fails to deliver a Space
Acceptance Notice to Landlord within the required 10 day period, Tenant shall be deemed to have waived its rights under this Section 39(a) to lease the ROFR Space, and Landlord shall have the right to lease the ROFR Space
to the third party subject to the Pending Deal (or an affiliate of such third party) (“Pending Deal Party”) on substantially the same business terms and conditions set forth in the Pending Deal Notice. Notwithstanding the foregoing,
Tenant’s Right of First Refusal shall be restored if Landlord fails to enter into an agreement to lease the ROFR Space to the Pending Deal Party within 180 days after Landlord’s delivery of the Pending Deal Notice to Tenant.
Notwithstanding the foregoing, this paragraph does not apply to any Extension Term. 
 (b)    Amended Lease. If:
(i) Tenant fails to timely deliver a Space Acceptance Notice, or (ii) after the expiration of a period of 10 days after Landlord’s delivery to Tenant of a lease amendment or lease agreement for Tenant’s lease of the ROFR Space no
lease amendment or lease agreement for the ROFR Space acceptable to both parties each in their sole and absolute discretion, has been executed, Tenant shall be deemed to have waived its right to lease such ROFR Space. 

(c)    Exceptions. Notwithstanding the above, the Right of First Refusal shall, at Landlord’s option, not be
in effect and may not be exercised by Tenant: 
 (i)    during any period of time that Tenant is in
Default under any provision of this Lease; or 
 (ii)    if Tenant has been in default under any
provision of this Lease 3 or more times, whether or not the defaults are cured, during the 12 month period prior to the date on which Tenant seeks to exercise the Right of First Refusal. 

(d)    Termination. The Right of First Refusal shall, at Landlord’s option, terminate and be of no further
force or effect even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the commencement date of the lease of such ROFR Space, (i) Tenant fails to timely cure any default by Tenant
under the Lease; or (ii) Tenant has defaulted 3 or more times during the period from the date of the exercise of the Right of First Refusal, to the date of the commencement of the lease of the ROFR Space, whether or not such defaults are cured.

 (e)    Subordinate. Tenant’s rights in connection with the Right of First Refusal are and shall be
subject to and subordinate to any expansion or extension rights granted in Project prior to the date of this Lease. 

(f)    Rights Personal. The Right of First Refusal is personal to Tenant is not assignable without Landlord’s
consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease, except that they may be assigned in connection with any Permitted
Assignment of this Lease. 
 (g)    No Extensions. The period of time within which the Right of First Refusal may
be exercised shall not be extended or enlarged by reason of Tenant’s inability to exercise the Right of First Refusal. 

40.    Right to Extend Term. Tenant shall have the right to extend the Term of the Lease upon the following terms
and conditions: 
 (a)    Extension Rights. Tenant shall have 1 right (an “Extension Right”) to
extend the term of this Lease for 3 years (an “Extension Term”) on the same terms and conditions as this Lease (other than with respect to Base Rent) by giving Landlord written notice of its election to exercise such Extension Right
at least 9 months prior, and no earlier than 12 months prior, to the expiration of the Base Term of the Lease. 

 Upon the commencement of the Extension Term, Base Rent shall be payable at the Market Rate (as
defined below). Base Rent shall thereafter be adjusted on each annual anniversary of the commencement of such Extension Term by a percentage as determined at the time the Market Rate is determined in accordance with the following provisions. As used
herein, “Market Rate” shall mean the effective base rental rates (including periodic adjustments to such base rental rates) then being received for premises of similar size and quality to the Premises, located in Palo Alto,
California, which are similar in size and quality to the Project, leased for terms of approximately three years. Notwithstanding the foregoing, determination of the “Market Rate” shall not take into consideration any rental value
attributable to improvements, alterations, fixtures, equipment, and personal property installed in the Premises at Tenant’s expense. 

If, on or before the date which is 180 days prior to the expiration of the Base Term of this Lease, Tenant has not agreed with Landlord’s
determination of the Market Rate and the rent escalations during the Extension Term after negotiating in good faith, Tenant shall be deemed to have elected arbitration as described in Section 40(b). Tenant acknowledges and
agrees that, if Tenant has elected to exercise the Extension Right by delivering notice to Landlord as required in this Section 40(a), Tenant shall have no right thereafter to rescind or elect not to extend the term of the
Lease for the Extension Term. 
 (b)    Arbitration. 

(i)    Within 10 days of Tenant’s notice to Landlord of its election (or deemed election) to arbitrate
Market Rate and escalations, each party shall deliver to the other a proposal containing the Market Rate and escalations that the submitting party believes to be correct (“Extension Proposal”). If either party fails to timely submit
an Extension Proposal and such failure continues for more than 5 business days after receipt of a written notice from the other party requesting such party’s Extension Proposal, then the requesting party’s submitted proposal shall
determine the Base Rent and escalations for the Extension Term. If both parties submit Extension Proposals, then Landlord and Tenant shall meet within 7 days after delivery of the last Extension Proposal and make a good faith attempt to mutually
appoint a single Arbitrator (as defined below) to determine the Market Rate and escalations. If Landlord and Tenant are unable to agree upon a single Arbitrator, then each shall, by written notice delivered to the other within 10 days after the
meeting, select an Arbitrator. If either party fails to timely give notice of its selection for an Arbitrator and such failure continues for more than 5 business days after receipt of a written notice from the other party requesting such
party’s Arbitrator selection, then the requesting party’s submitted Arbitrator shall determine the Base Rent and escalations for the Extension Term. The 2 Arbitrators so appointed shall, within 5 business days after their appointment,
appoint a third Arbitrator. If the 2 Arbitrators so selected cannot agree on the selection of the third Arbitrator within the time above specified, then either party, on behalf of both parties may request such appointment of such third Arbitrator by
application to any state court of general jurisdiction in the jurisdiction in which the Premises are located, upon 10 days prior written notice to the other party of such intent. 

(ii)    The authority of the Arbitrator(s) shall be limited strictly to a selection of either
Landlord’s Extension Proposal in its entirety or Tenant’s Extension Proposal in its entirety as the Extension Proposal which most closely approximates the Market Rate and escalations. The Arbitrator(s) shall have no authority to create an
independent structure of Market Rate and escalations, combine elements of both Extension Proposals to create a third, or compromise or alter in any way any of the components of the Extension Proposals submitted by the parties. The sole decision to
be made shall be which of the parties’ Extension Proposals in its entirety shall determine the Market Rate and escalations for the Extension Term. 

(iii)    The decision of the Arbitrator(s) shall be made within 30 days after the appointment of a single
Arbitrator or the third Arbitrator, as applicable. The decision of the single Arbitrator or majority of the 3 Arbitrators shall be final and binding upon the parties. Each party shall pay the 

 
fees and expenses of the Arbitrator appointed by or on behalf of such party and the fees and expenses of the third Arbitrator shall be borne equally by both parties. If the Market Rate and
escalations are not determined by the first day of the Extension Term, then Tenant shall pay Landlord Base Rent in an amount equal to the Base Rent in effect immediately prior to the Extension Term and increased by the Rent Adjustment Percentage
until such determination is made. After the determination of the Market Rate and escalations, the parties shall make any necessary adjustments to such payments made by Tenant. Landlord and Tenant shall then execute an amendment recognizing the
Market Rate and escalations for the Extension Term. 
 (iv)    An “Arbitrator” shall be
any person appointed by or on behalf of either party or appointed pursuant to the provisions hereof and: (i) shall be (A) a member of the American Institute of Real Estate Appraisers with not less than 10 years of experience in the
appraisal of improved office and high tech industrial real estate in the Palo Alto area, or (B) a licensed commercial real estate broker with not less than 15 years’ experience representing landlords and/or tenants in the leasing of high
tech or life sciences space in the Palo Alto area, (ii) devoting substantially all of their time to professional appraisal or brokerage work, as applicable, at the time of appointment and (iii) be in all respects impartial and
disinterested. 
 (c)    Rights Personal. The Extension Right is personal to Tenant and any assignee of a
Permitted Transfer and is not otherwise assignable without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the
Lease, except that they may be assigned in connection with any Permitted Assignment of this Lease. 

(d)    Exceptions. Notwithstanding anything set forth above to the contrary, the Extension Right shall, at
Landlord’s option, not be in effect and Tenant may not exercise the Extension Right: 

(i)    during any period of time that Tenant is in Default under any provision of this Lease; or 

(ii)    if Tenant has been in Default under any provision of this Lease 3 or more times, whether or not the
Defaults are cured, during the 12 month period immediately prior to the date that Tenant intends to exercise the Extension Right, whether or not the Defaults are cured. 

(e)    No Extensions. The period of time within which the Extension Right may be exercised shall not be extended or
enlarged by reason of Tenant’s inability to exercise the Extension Right. 
 (f)    Termination. The
Extension Right shall, at Landlord’s option, terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Extension Right, if, after such exercise, but prior to the commencement date of the Extension
Term, (i) Tenant fails to timely cure any Default by Tenant under this Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the date of the exercise of the Extension Right to the date of the commencement of the
Extension Term, whether or not such Defaults are cured. 
 41.    Early Termination Right. Tenant shall have the
one time right to terminate the Term of this Lease with respect to the original Premises only (“Termination Right”) as of the date that is 36 months after the Rent Commencement Date (“Termination Date”); provided,
however, that Tenant delivers to Landlord (i) a written notice (“Termination Notice”) exercising its Termination Right no later than the date that is 6 months prior to the Termination Date, and (ii) concurrent with
Tenant’s delivery to Landlord of the Termination Notice delivers funds in the amount of $250,000 (the “Early Termination Payment”). If Tenant timely and properly exercises the Termination Right, Tenant shall vacate the Premises
and deliver possession thereof to Landlord in the condition required by the terms of this Lease on or before the Termination Date and Tenant shall have no further obligations under this Lease with respect to the Premises except for those accruing
prior to the Termination Date and those which, pursuant to the terms of this Lease, survive the expiration or early termination of the Lease with respect to the Premises. If Tenant does not deliver to Landlord the Termination Notice and the Early
Termination Payment within the time 

 
period provided in this paragraph, Tenant shall be deemed to have waived its Termination Right. Notwithstanding anything to the contrary contained herein, in no event shall this
Section 41 apply to any ROFR Space that Tenant leases pursuant to Section 39. 

42.    Miscellaneous. 

(a)    Notices. All notices or other communications between the parties shall be in writing and shall be deemed duly
given upon delivery or refusal to accept delivery by the addressee thereof if delivered in person, or upon actual receipt if delivered by reputable overnight guaranty courier, addressed and sent to the parties at their addresses set forth above.
Landlord and Tenant may from time to time by written notice to the other designate another address for receipt of future notices. 

(b)    Joint and Several Liability. If and when included within the term “Tenant,” as used in this
instrument, there is more than one person or entity, each shall be jointly and severally liable for the obligations of Tenant. 

(c)    Financial Information. Upon Landlord’s request, Tenant shall furnish Landlord with true and complete
copies of (i) Tenant’s most recent audited annual financial statements within 180 days of the end of each of Tenant’s fiscal years during the Term, (ii) Tenant’s most recent unaudited quarterly financial statements within 45
days of the end of each of Tenant’s first three fiscal quarters of each of Tenant’s fiscal years during the Term, (iii) at Landlord’s request from time to time, updated business plans, including cash flow projections and/or pro
forma balance sheets and income statements, all of which shall be treated by Landlord as confidential information belonging to Tenant, (iv) corporate brochures and/or profiles prepared by Tenant for prospective investors, and (v) any other
financial information or summaries that Tenant typically provides to its lenders or shareholders. Notwithstanding the foregoing, in no event shall Tenant be required to provide any financial information to Landlord which Tenant does not otherwise
prepare (or cause to be prepared) for its own purposes. So long as Tenant is a “public company” and its financial information is publicly available, then the foregoing delivery requirements of this Section 42(c)
shall not apply. 
 (d)    Recordation. Neither this Lease nor a memorandum of lease shall be filed by or on
behalf of Tenant in any public record. Landlord may prepare and file, and upon request by Landlord Tenant will execute, a memorandum of lease. 

(e)    Interpretation. The normal rule of construction to the effect that any ambiguities are to be resolved
against the drafting party shall not be employed in the interpretation of this Lease or any exhibits or amendments hereto. Words of any gender used in this Lease shall be held and construed to include any other gender, and words in the singular
number shall be held to include the plural, unless the context otherwise requires. The captions inserted in this Lease are for convenience only and in no way define, limit or otherwise describe the scope or intent of this Lease, or any provision
hereof, or in any way affect the interpretation of this Lease. 
 (f)    Not Binding Until Executed. The
submission by Landlord to Tenant of this Lease shall have no binding force or effect, shall not constitute an option for the leasing of the Premises, nor confer any right or impose any obligations upon either party until execution of this Lease by
both parties. 
 (g)    Limitations on Interest. It is expressly the intent of Landlord and Tenant at all times
to comply with applicable law governing the maximum rate or amount of any interest payable on or in connection with this Lease. If applicable law is ever judicially interpreted so as to render usurious any interest called for under this Lease, or
contracted for, charged, taken, reserved, or received with respect to this Lease, then it is Landlord’s and Tenant’s express intent that all excess amounts theretofore collected by Landlord be credited on the applicable obligation (or, if
the obligation has been or would thereby be paid in full, refunded to Tenant), and the provisions of this Lease immediately shall be deemed reformed and the amounts thereafter collectible hereunder reduced, without the necessity of the execution of
any new document, so as to comply with the applicable law, but so as to permit the recovery of the fullest amount otherwise called for hereunder. 

 (h)    Choice of Law. Construction and interpretation of this Lease
shall be governed by the internal laws of the state in which the Premises are located, excluding any principles of conflicts of laws. 

(i)    Time. Time is of the essence as to the performance of Tenant’s obligations under this Lease. 

(j)    OFAC. Tenant, and all beneficial owners of Tenant, are currently (a) in compliance with and shall at
all times during the Term of this Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute, executive order, or regulation relating thereto
(collectively, the “OFAC Rules”), (b) not listed on, and shall not during the term of this Lease be listed on, the Specially Designated Nationals and Blocked Persons List maintained by OFAC and/or on any other similar list
maintained by OFAC or other governmental authority pursuant to any authorizing statute, executive order, or regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business under the OFAC Rules. 

(k)    Incorporation by Reference. All exhibits and addenda attached hereto are hereby incorporated into this Lease
and made a part hereof. If there is any conflict between such exhibits or addenda and the terms of this Lease, such exhibits or addenda shall control. 

(I)    Entire Agreement. This Lease, including the exhibits attached hereto, constitutes the entire agreement
between Landlord and Tenant pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, letters of intent, negotiations and discussions, whether oral or written, of the parties, and there are no
warranties, representations or other agreements, express or implied, made to either party by the other party in connection with the subject matter hereof except as specifically set forth herein. 

(l)    No Accord and Satisfaction. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly
installment of Base Rent or any Additional Rent will be other than on account of the earliest stipulated Base Rent and Additional Rent, nor will any endorsement or statement on any check or letter accompanying a check for payment of any Base Rent or
Additional Rent be an accord and satisfaction. Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such Rent or to pursue any other remedy provided in this Lease. 

[Signatures on next page] 

 Net Multi-Tenant Office 

IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease as of the day and year first above written. 

 

							
	TENANT:
	
	 ADAPTIVE PLANNING, INC.,

a Delaware corporation

		
	By:	 	 /s/ David Pefley

	Its:	 	CFO
	
	LANDLORD:
	
	 ARE-SAN FRANCISCO NO. 18, LLC,

a Delaware limited liability company

		
	By:	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P., a Delaware limited partnership, managing member
			
		 	By:	 	ARE-QRS CORP., a Maryland corporation, general partner
				
		 		 	By:	 	     /s/ Eric S. Johnson

		 		 	Its:	 	    Eric S. Johnson
		 		 		 	    Vice President
		 		 		 	Real Estate Legal Affairs

  
 

 

 EXHIBIT A TO LEASE 

DESCRIPTION OF PREMISES 
  

 

  
 

 

 EXHIBIT B TO LEASE 

DESCRIPTION OF PROJECT 

(See attached) 

  
 

 

 

 

  
 

 

 EXHIBIT C TO LEASE 

WORK LETTER 
 THIS
WORK LETTER (this “Work Letter”) is incorporated into that certain Lease Agreement (the “Lease”) dated as of February, 2013 by and between ARE-SAN FRANCISCO NO. 18,
LLC, a Delaware limited liability company (“Landlord”), and ADAPTIVE PLANNING, INC., a Delaware corporation (“Tenant”). Any initially capitalized terms used but not defined herein shall have the meanings
given them in the Lease. 
 1.    General Requirements. 

(a)    Tenant’s Authorized Representative. Tenant designates David Pefley
and                     (either such individual acting alone, “Tenant’s Representative”) as the only persons authorized to act
for Tenant pursuant to this Work Letter. Landlord shall not be obligated to respond to or act upon any request, approval, inquiry or other communication (“Communication”) from or on behalf of Tenant in connection with this Work
Letter unless such Communication is in writing from Tenant’s Representative. Tenant may change either Tenant’s Representative at any time upon not less than 5 days advance written notice to Landlord. 

(b)    Landlord’s Authorized Representative. Landlord designates Todd Miller and
                     (either such individual acting alone, “Landlord’s Representative”) as the only persons authorized to act
for Landlord pursuant to this Work Letter. Tenant shall not be obligated to respond to or act upon any request, approval, inquiry or other Communication from or on behalf of Landlord in connection with this Work Letter unless such Communication is
in writing from Landlord’s Representative. Landlord may change either Landlord’s Representative at any time upon not less than 5 days advance written notice to Tenant. 

(c)    Architects, Consultants and Contractors. Landlord and Tenant hereby acknowledge and agree that the architect
(the “TI Architect”) for the Tenant Improvements (as defined in Section 2(a) below), the general contractor and any subcontractors for the Tenant Improvements shall be selected by Tenant, subject to
Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Landlord shall be named a third party beneficiary of any contract entered into by Tenant with the TI Architect, any consultant, any contractor or
any subcontractor, and of any warranty made by any contractor or any subcontractor. 
 2.    Tenant Improvements.

 (a)    Tenant Improvements and Tenant’s Work Defined. As used herein, “Tenant
improvements” shall mean all improvements to the Premises desired by Tenant of a fixed and permanent nature as shown on the approved TI Construction Drawings, as defined in Section 2(c) below. Other than funding
the TI Allowance (as defined below) as provided herein, Landlord shall not have any obligation whatsoever with respect to the finishing of the Premises for Tenant’s use and occupancy, except as may otherwise provided in the Lease. The design
and construction of the Tenant Improvements in accordance with this Work Letter shall be referred to as the “Tenant’s Work”. 

(b)    Tenant’s Space Plans. Tenant shall deliver to Landlord schematic drawings and outline specifications
(the “TI Design Drawings”) detailing Tenant’s requirements for the Tenant Improvements. Not more than 5 days thereafter, Landlord shall deliver to Tenant the written objections, questions or comments of Landlord and the TI
Architect with regard to the TI Design Drawings. Tenant shall cause the TI Design Drawings to be revised to address such written comments and shall resubmit said drawings to Landlord for approval within 5 business days thereafter. Such process shall
continue until Landlord has approved the TI Design Drawings. 

  
 

 

 (c)    Working Drawings. Following the approval of the TI Design
Drawings by Landlord, Tenant shall cause the TI Architect to prepare and deliver to Landlord for review and comment construction plans, specifications and drawings for the Tenant Improvements (“TI Construction Drawings”), which TI
Construction Drawings shall be prepared substantially in accordance with the TI Design Drawings. Tenant shall be solely responsible for ensuring that the TI Construction Drawings reflect Tenant’s requirements for the Tenant Improvements.
Landlord shall deliver its written comments on the TI Construction Drawings to Tenant not later than 10 days after Landlord’s receipt of the same; provided, however, that Landlord may not disapprove any matter that is consistent with the TI
Design Drawings. Tenant and the TI Architect shall consider all such comments in good faith and shall notify Landlord how Tenant proposes to respond to such comments. Any disputes in connection with such comments shall be resolved in accordance with
Section 2(d) hereof. Provided that the design reflected in the TI Construction Drawings is consistent with the TI Design Drawings, Landlord shall approve the TI Construction Drawings submitted by Tenant. Once approved by
Landlord, Tenant shall not materially modify the TI Construction Drawings except as may be reasonably required in connection with the issuance of the TI Permit (as defined in Section 3(a) below) and except in accordance
with the provisions of Section 4 below. 
 (d)    Approval and Completion. If any
dispute regarding the design of the Tenant Improvements is not settled within 10 business days after notice of such dispute is delivered by one party to the other, Tenant may make the final decision regarding the design of the Tenant Improvements,
provided (i) Tenant acts reasonably and such final decision is either consistent with or a compromise between Landlord’s and Tenant’s positions with respect to such dispute, (ii) that all costs and expenses resulting from any
such decision by Tenant shall be payable out of the TI Fund (as defined in Section 5(d) below), and (iii) Tenant’s decision will not affect the base Building, structural components of the Building or any Building
Systems (in which case Landlord shall make the final decision). Any changes to the T1 Construction Drawings following Landlord’s and Tenant’s approval of same requested by Tenant shall be processed as provided in
Section 4 hereof. 
 3.    Performance of the Tenant Improvements. 

(a)    Commencement and Permitting of the Tenant Improvements. Tenant shall commence construction of the Tenant
Improvements upon obtaining and delivering to Landlord a building permit (the “TI Permit”) authorizing the construction of the Tenant Improvements consistent with the TI Construction Drawings approved by Landlord. The cost of
obtaining the TI Permit shall be payable from the TI Fund. Landlord shall assist Tenant in obtaining the TI Permit. Prior to the commencement of the Tenant Improvements, Tenant shall deliver to Landlord a copy of any contract with Tenant’s
contractors (including the TI Architect), and certificates of insurance from any contractor performing any part of the Tenant Improvement evidencing industry standard commercial general liability, automotive liability, “builder’s
risk”, and workers’ compensation insurance. Tenant shall cause the general contractor to provide a certificate of insurance naming Landlord, Alexandria Real Estate Equities, Inc., and Landlord’s lender (if any) as additional insureds
for the general contractor’s liability coverages required above. 
 (b)    Selection of Materials, Etc.
Where more than one type of material or structure is indicated on the TI Construction Drawings approved by Tenant and Landlord, the option will be within Tenant’s reasonable discretion if the matter concerns the Tenant Improvements, and within
Landlord’s reasonable discretion if the matter concerns the structural components of the Building or any Building System. 

(c)    Tenant Liability. Tenant shall be responsible for correcting any deficiencies or defects in the Tenant
Improvements. 
 (d)    Substantial Completion. Tenant shall substantially complete or cause to be substantially
completed the Tenant Improvements in a good and workmanlike manner, in accordance with the TI Permit subject, in each case, to Minor Variations and normal “punch list” items of a non-material nature
which do not interfere with the use of the Premises (“Substantial Completion” or “Substantially Complete”). Upon Substantial Completion of the Tenant Improvements, Tenant shall require the TI Architect and
the general contractor to execute and deliver, for the benefit of Tenant and Landlord, a Certificate of Substantial Completion in the form of the American Institute of Architects (“AIA”) document

 
G704. For purposes of this Work Letter, “Minor Variations” shall mean any modifications reasonably required: (i) to comply with all applicable Legal Requirements and/or to
obtain or to comply with any required permit (including the TI Permit); (ii) to comport with good design, engineering, and construction practices which are not material; or (Hi) to make reasonable adjustments for field deviations or conditions
encountered during the construction of the Tenant Improvements. 
 4.    Changes. Any changes requested by Tenant
to the Tenant Improvements after the delivery and approval by Landlord of the TI Design Drawings, shall be requested and instituted in accordance with the provisions of this Section 4 and shall be subject to the written
approval of Landlord, which approval shall not be unreasonably withheld, conditioned or delayed. 

(a)    Tenant’s Right to Request Changes. If Tenant shall request changes (“Changes”), Tenant
shall request such Changes by notifying Landlord in writing in substantially the same form as the AIA standard change order form (a “Change Request”), which Change Request shall detail the nature and extent of any such Change. Such
Change Request must be signed by Tenant’s Representative. Landlord shall review and approve or disapprove such Change Request within 5 business days thereafter, provided that Landlord’s approval shall not be unreasonably withheld,
conditioned or delayed. 
 (b)    Implementation of Changes. If Landlord approves such Change and Tenant deposits
with Landlord any Excess TI Costs (as defined in Section 5(d) below) required in connection with such Change, Tenant may cause the approved Change to be instituted. If any TI Permit modification or change is required as a
result of such Change, Tenant shall promptly provide Landlord with a copy of such TI Permit modification or change. 

5.    Costs. 

(a)    Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant
shall obtain a detailed breakdown, by trade, of the costs incurred or that will be incurred, in connection with the design and construction of The Tenant Improvements (the “Budget”), and deliver a copy of the Budget to Landlord for
Landlord’s approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord and shall include a payment to Landlord of administrative rent (“Administrative
Rent”) equal to 1% of the TI Costs (as hereinafter defined) for monitoring and inspecting the construction of the Tenant Improvements, which sum shall be payable from the TI Fund. Such Administrative Rent shall cover, without limitation,
all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such monitoring of the construction of the
Tenant Improvements, and shall be payable out of the TI Fund. 
 (b)    TI Allowance. Landlord shall provide to
Tenant a tenant improvement allowance (“TI Allowance”) of $10.00 per rentable square foot of the Premises, or $300,000 in the aggregate. Within 5 business days after receipt of notice of Landlord’s approval of the Budget,
Tenant shall notify Landlord how much of the TI Allowance Tenant has elected to receive from Landlord. Such election shall be final and binding on Tenant, and may not thereafter be modified without Landlord’s consent, which may be granted or
withheld in Landlord’s sole and absolute subjective discretion. The TI Allowance shall be disbursed in accordance with this Work Letter. 

Tenant shall have no right to the use or benefit (including any reduction to Base Rent) of any portion of the TI Allowance not required for
the construction of (i) the Tenant Improvements described in the TI Construction Drawings approved pursuant to Section 2(d) or (ii) any Changes pursuant to Section 4 except that any
unused portion of the TI Allowance may be applied as a tenant improvement allowance for the construction of improvements in Tenant Reception Area on the first floor of the Building or in any additional space Tenant may lease from Landlord in the
Building during the Term of this Lease. Notwithstanding anything to the contrary contained herein, Tenant shall have no right to any portion of the TI Allowance that is not disbursed before the last day of the 12th month after the Commencement Date.

 (c)    Costs Includable in TI Fund. The TI Fund shall be used solely
for the payment of design, permits and construction costs in connection with the construction of the Tenant Improvements, including, without limitation, the cost of electrical power and other utilities used in connection with the construction of the
Tenant Improvements, the cost of preparing the TI Design Drawings and the TI Construction Drawings, all costs set forth in the Budget, including Landlord’s Administrative Rent, and the cost of Changes (collectively, “TI Costs”)
and as permitted in Section 5(b) above. Notwithstanding anything to the contrary contained herein, the TI Fund shall not be used to purchase any furniture, personal property or other non-Building system
materials or equipment, including, but not be limited to, Tenant’s voice or data cabling. 
 (d)    Excess TI
Costs. Landlord shall have no obligation to bear any portion of the cost of any of the Tenant Improvements except to the extent of the TI Allowance. If at any time and from
time-to-time, the remaining TI Costs under the Budget exceed the remaining unexpended TI Allowance by $20,000.00, Tenant shall deposit with Landlord within 2 business
days of Landlord’s request, as a condition precedent to Landlord’s obligation to fund the TI Allowance, 100% of the then current TI Cost in excess of the remaining TI Allowance (“Excess TI Costs”). For the avoidance of
doubt although Tenant is not required to deliver Excess TI Costs of less than $20,000 to Landlord, Tenant remains responsible for paying such Excess TI Costs. If Tenant fails to deposit, or is late in depositing any Excess TI Costs with Landlord,
Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the Default Rate and the right to assess a late charge). For purposes of any litigation
instituted with regard to such amounts, those amounts will be deemed Rent under the Lease. The TI Allowance and Excess TI Costs is herein referred to as the “TI Fund.” Funds deposited by Tenant shall be the first thereafter
disbursed to pay TI Costs. Notwithstanding anything to the contrary set forth in this Section 5(d), Tenant shall be fully and solely liable for TI Costs and the cost of Minor Variations in excess of the TI Allowance. If
upon Substantial Completion of the Tenant Improvements and the payment of all sums due in connection therewith there remains any undisbursed portion of the TI Fund, Tenant shall be entitled to such undisbursed TI Fund solely to the extent of any
Excess TI Costs deposit Tenant has actually made with Landlord.. 
 (e)    Payment for TI Costs. During the
course of design and construction of the Tenant Improvements, Landlord shall reimburse Tenant for TI Costs once a month against a draw request in Landlord’s standard form, containing evidence of payment of such TI Costs by Tenant and such
certifications, lien waivers (including a conditional lien release for each progress payment and unconditional lien releases for the prior month’s progress payments), inspection reports and other matters as Landlord reasonably and customarily
obtains, to the extent of Landlord’s approval thereof for payment, no later than 30 days following receipt of such draw request. Upon completion of the Tenant Improvements (and prior to any final disbursement of the TI Fund), Tenant shall
deliver to Landlord: (i) sworn statements setting forth the names of all contractors and first tier subcontractors who did the work and final, unconditional lien waivers from all such contractors and first tier subcontractors; (ii) as-built plans (one copy in print format and two copies in electronic CAD format) for such Tenant Improvements; (iii) a certification of substantial completion in Form AIA G704, (iv) a temporary
certificate of occupancy)or its equivalent) for the Premises; and (v) copies of all material operation and maintenance manuals and warranties affecting the Premises. 

6.    Miscellaneous. 

(a)    Consents. Whenever consent or approval of either party is required under this Work Letter, that party shall
not unreasonably withhold, condition or delay such consent or approval, except as may be expressly set forth herein to the contrary. 

(b)    Modification. No modification, waiver or amendment of this Work Letter or of any of its conditions or
provisions shall be binding upon Landlord or Tenant unless in writing signed by Landlord and Tenant. 

 EXHIBIT D TO LEASE 

ACKNOWLEDGMENT OF COMMENCEMENT DATE 

This ACKNOWLEDGMENT OF COMMENCEMENT DATE is made this      day
                     of             ,
        , between ARE-SAN FRANCISCO NO. 18, LLC, a Delaware limited liability company (“Landlord”), and ADAPTIVE PLANNING, INC., a
Delaware corporation (“Tenant”), and is attached to and made a part of the Lease dated                      , 2013 (the
“Lease”), by and between Landlord and Tenant. Any initially capitalized terms used but not defined herein shall have the meanings given them in the Lease. 

Landlord and Tenant hereby acknowledge and agree, for all purposes of the Lease, that the Commencement Date of the Base Term of the Lease is
                    ,
                    , the Rent Commencement Date is             ,
         and the termination date of the Base Term of the Lease shall be midnight on                     ,
        . In case of a conflict between the terms of the Lease and the terms of this Acknowledgment of Commencement Date, this Acknowledgment of Commencement Date shall control for all purposes. 

IN WITNESS WHEREOF, Landlord and Tenant have executed this ACKNOWLEDGMENT OF COMMENCEMENT DATE to be effective on the date first above
written. 
  

							
	 ADAPTIVE PLANNING, INC.,

a Delaware corporation

		
	By:	 	  

	Its:	 	  

	
	LANDLORD:
	
	 ARE-SAN FRANCISCO NO. 18, LLC,

a Delaware limited liability company

		
	By:	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
		 	a Delaware limited partnership,
		 	managing member
			
		 	By:	 	ARE-QRS CORP., a Maryland corporation, general partner
				
		 		 	By:	 	
                     

		 		 	Its:	 	
                     

  
 

 

 Rules and Regulations 

EXHIBIT E TO LEASE 

Rules and Regulations 

1.    The sidewalk, entries, and driveways of the Project shall not be obstructed by Tenant, or any Tenant Party, or used
by them for any purpose other than ingress and egress to and from the Premises. 
 2.    Tenant shall not place any
objects, including antennas, outdoor furniture, etc., in the parking areas, landscaped areas or other areas outside of its Premises, or on the roof of the Project. 

3.    Except for animals assisting the disabled, no animals shall be allowed in the offices, halls, or corridors in the
Project. 
 4.    Tenant shall not disturb the occupants of the Project or adjoining buildings by the use of any radio
or musical instrument or by the making of loud or improper noises. 
 5.    If Tenant desires telegraphic, telephonic or
other electric connections in the Premises, Landlord or its agent will direct the electrician as to where and how the wires may be introduced; and, without such direction, no boring or cutting of wires will be permitted. Any such installation or
connection shall be made at Tenant’s expense. 
 6.    Tenant shall not install or operate any steam or gas engine
or boiler, or other mechanical apparatus in the Premises, except as specifically approved in the Lease. The use of oil, gas or inflammable liquids for heating, lighting or any other purpose is expressly prohibited. Explosives or other articles
deemed extra hazardous shall not be brought into the Project. 
 7.    Parking any type of recreational vehicles larger
than a full size pick-up truck with a camper shell is specifically prohibited on or about the Project. Except for the overnight parking of operative vehicles, no vehicle of any type shall be stored in the
parking areas at any time. In the event that a vehicle is disabled, it shall be removed within 48 hours. There shall be no “For Sale” or other advertising signs on or about any parked vehicle. All vehicles shall be parked in the designated
parking areas in conformity with all signs and other markings. All parking will be open parking, and no reserved parking, numbering or lettering of individual spaces will be permitted except as specified by Landlord. 

8.    Tenant shall maintain the Premises free from rodents, insects and other pests. 

9.    Landlord reserves the right to exclude or expel from the Project any person who, in the judgment of Landlord, is
intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of the Rules and Regulations of the Project. 

10.    Tenant shall not cause any unnecessary labor by reason of Tenant’s carelessness or indifference in the
preservation of good order and cleanliness. Landlord shall not be responsible to Tenant for any loss of property on the Premises, however occurring, or for any damage done to the effects of Tenant by the janitors or any other employee or person.

 11.    Tenant shall give Landlord prompt notice of any defects of which Tenant becomes aware in the water, lawn
sprinkler, sewage, gas pipes, electrical lights and fixtures, heating apparatus, or any other service equipment affecting the Premises. 

12.    Tenant shall not permit storage outside the Premises, including without limitation, outside storage of trucks and
other vehicles, or dumping of waste or refuse or permit any harmful materials to be placed in any drainage system or sanitary system in or about the Premises. 

13.    All moveable trash receptacles provided by the trash disposal firm for the Premises must be kept in the trash
enclosure areas, if any, provided for that purpose. 

  
 

 

 Rules and Regulations 
  

 14.    No auction, public or private, will be permitted on the Premises
or the Project. 
 15.    No awnings shall be placed over the windows in the Premises except with the prior written
consent of Landlord. 
 16.    The Premises shall not be used for lodging, sleeping or cooking or for any immoral or
illegal purposes or for any purpose other than that specified in the Lease; provided, however that cooking shall be permitted in a kitchen or employee break room. No gaming devices shall be operated in the Premises. 

17.    Tenant shall ascertain from Landlord the maximum amount of electrical current which can safely be used in the
Premises, taking into account the capacity of the electrical wiring in the Project and the Premises and the needs of other tenants, and shall not use more than such safe capacity. Landlord’s consent to the installation of electric equipment
shall not relieve Tenant from the obligation not to use more electricity than such safe capacity. 
 18.    Tenant
assumes full responsibility for protecting the Premises from theft, robbery and pilferage. 
 19.    Tenant shall not
install or operate on the Premises any machinery or mechanical devices of a nature not directly related to Tenant’s ordinary use of the Premises and shall keep all such machinery free of vibration, noise and air waves which may be transmitted
beyond the Premises. 

 EXHIBIT F TO LEASE 

TENANT’S PERSONAL PROPERTY 

None. 

  
 

 

 EXHIBIT G TO LEASE 

LANDLORD’S FURNITURE 
  

									
	 	  	 West Bayshore

inventory
	  	 	  	 
	 	  	 inventory date:
	  	 5/30/2012
	  	 
	 Room

series
	  	 Room#
	  	 Room Use
	  	 Inventory
	  	photo? Y/N
					
	A	  	1	  	office	  	2 workstations, bookcase, 1 2 dr lateral	  	N
					
	A	  	2	  	office	  	work station, bookcase, sm round table, 2 chairs	  	N
					
	A	  	3	  	office	  	work station, bookcase, 2 dr lateral sm round table, end table, 2 chairs	  	N
					
	A	  	4	  	office	  	2 bookcases and work station	  	N
					
	A	  	5	  	office	  	work station, 3 dr lateral, book case	  	Y
					
	A	  	6	  	office	  	work station, round table, bookcase	  	N
					
	A	  	7	  	office	  	work station, round table	  	N
					
	A	  	8	  	office	  	2 bookcases, 1 3 dr lateral, 1 sm round table, oak desk	  	Y
					
	A	  	9	  	office	  	3 chairs, 4 dr lateral, round table, bookcase, workstation	  	N
					
	A	  	10	  	office	  	brown desk and 5 dr lateral	  	Y
					
	A	  	11	  	office	  	wooden desk, chair, bookcase	  	Y
					
	A	  	12	  	office	  	2 workstations, 2 partition panels, 2 chairs	  	Y
					
	A	  	13	  	office	  	workstation chair, bookcase 1 2 dr lateral	  	N
					
	A	  	14	  	office	  	1 workstation, 1 sm round table, 1 chair	  	Y
					
	A	  	15	  	office	  	1 workstation, 1 sm round table, 1 2 dr lateral, 1 chair	  	Y
					
	A	  	16	  	office	  	1 workstation, 1 chair	  	Y
					
	A	  	17	  	office	  	1 workstation, 1 chair	  	N
					
	A	  	18	  	office	  	1 workstation, 1 chair, 1 sm round table w 2 side chairs, 1 wall board	  	Y
					
	A	  	19	  	office	  	wall mount cabinets, workstation & chair, sm round table w 2 chairs	  	Y
					
	A	  	20	  	office	  	3 workstations, 2 chairs, book cases	  	Y
					
	B	  	1	  	conference room	  	conference table, 12 chairs	  	Y
					
	B	  	2	  	work room	  	all built in cabinets remain as landlord property	  	N
					
	B	  	3	  	work room	  	all built in cabinets remain as landlord property	  	Y
					
	B	  	4	  	office	  	workstation, sm round table, chair	  	Y
					
	B	  	4 (2)	  	open file cabinet space	  		  	N
					
	B	  	5	  	office	  	2 workstations, 14 dr lateral, 1 bookcase 1 sm round table	  	N
					
	B	  	6	  	conference room	  	11 tables, 1 lg brown conference table, 31 black chairs, 1 small square table	  	Y

  
 

 

									
					
	B	  	7	  	lunch room	  	5 large refrigerators, 1 small, dishwasher built in (microwaves will be removed). 7 tables, 1 couch, 27 plastic chairs (brown folding table will be removed)	  	Y
					
	B	  	8	  	vending area	  	see lunch room (Facility Planning will have vending machines relocated)	  	Y
					
	B	  	9	  	closet (bldg systems)	  	n/a	  	N
					
	B	  	10	  	bldg mech room	  	n/a	  	N
					
	B	  	11	  	bldg mech room	  	n/a	  	N
					
	B	  	12	  	training room	  	wall mounted board; shelves in storage area (all other relocates off site)	  	Y
					
	B	  	13	  	training room storage	  	shelving	  	N
					
	B	  	14	  	telcom room	  	n/a	  	N
					
	B	  	15	  	work room	  	all built in cabinets remain as landlord property	  	Y
					
	B	  	16	  	interior office (used for storage)	  	2 4 dr laterals, 4 grey small tables, wall board system	  	N
					
	B	  	17	  	office	  	4 workstations, 1 sm round table, desk chairs 2 lateral files	  	Y
					
	B	  	18	  	office	  	workstation, chair, 2 dr lateral	  	Y
					
	B	  	19	  	office used for work room (IT)	  	4 tables, wall board system (2), 4 chairs	  	Y
					
	B	  	20	  	conference room	  	oak conference room table, 8 chairs	  	Y
					
	B	  	21	  	work room	  	all built in cabinets remain as landlord property	  	N
					
	B	  	22	  	conference room	  	oak conference room table, 8 chairs	  	Y
					
	B	  	23	  	work room	  	all built in cabinets remain as landlord property	  	Y
					
	C	  	1	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	2	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N

  
 

 

									
					
	C	  	3	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	4	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	5	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	6	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	7	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	8	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	9	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	10	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	11	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	12	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	13	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	14	  	open file cabinet space	  	no inventory - all lateral files remain	  	N
					
	C	  	15	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	16	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	16A	  	printer area	  	n/a	  	N
					
	C	  	17	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	18	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	19	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	20	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	21	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	22	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N
					
	C	  	22-A/B	  	open file cabinet space	  	lateral files to remain	  	N
					
	C	  	23	  	cube	  	no inventory - all cube work stations and matching file cabinets to remain	  	N

  
 

 

									
					
	C	 	24	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	25	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	26	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	27	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	28	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	29	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	30	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	31	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	32	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	33	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	34	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	35	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	38	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	39	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	40	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	41	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	42	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	43	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	44	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	45	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	46	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	47	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	48	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N

  
 

 

									
					
	C	 	49	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	50	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	51	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	52	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	53	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	54	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	55	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	56	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	57	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	58	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	59	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	60	 	cube	 	no inventory all cube work stations and matching file cabinets to remain	 	N
					
	C	 	61	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	62	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	63	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	64	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	65	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	66	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	67	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	68	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	69	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	70	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	71	 	open file cabinet space	 	lateral files to remain	 	N
					
	C	 	72	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	73	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N

  
 

 

									
					
	C	 	74	 	open file cabinet space	 	lateral files to remain	 	N
					
	C	 	75	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	76	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	77	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	78	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	79	 	open file cabinet space	 	lateral files to remain	 	N
					
	C	 	80	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	81	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	82	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	83	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	84	 	open file cabinet space	 	lateral files to remain	 	N
					
	C	 	85	 	open file cabinet space	 	lateral files to remain	 	N
					
	C	 	86	 	open file cabinet space	 	lateral files to remain	 	N
					
	C	 	87	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	88	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	89	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	90	 	A and B open file space	 	lateral files to remain	 	N
					
	C	 	91	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	92	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N

  
 

 

									
					
	C	 	93	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	94	 	open file cabinet space	 	lateral files to remain	 	N
					
	C	 	95	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	96	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	97	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	98	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	99	 	open file cabinet space	 	lateral files to remain	 	N
					
	C	 	100	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	101	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	102	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	103	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	104	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	105	 	open file cabinet space	 	lateral files to remain	 	N
					
	C	 	106	 	open file cabinet space	 	lateral files to remain	 	N
					
	C	 	107	 	open file cabinet space	 	lateral files to remain	 	N
					
	C	 	108	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	109	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	110	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	111	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	112	 	cube	 	no inventory - all cube work stations and matching file cabinets to remain	 	N
					
	C	 	113	 	work area	 	lateral files to remain	 	N
					
	C	 	114	 	work area	 	lateral files to remain	 	N

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00283-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00283-of-00352.parquet"}]]