Document:

Exhibit 10.4

EnerNOC, Inc.

2007 Executive Officer Bonus Targets

·                  The Company’s executive officers have the
following bonus targets (expressed as a percentage of salary unless otherwise
stated):

	
  Name and Position

  	
   

  	
  Bonus Targets (%)

  	
   

  
	
  Timothy Healy,
  Chief Executive Officer

  	
   

  	
  80

  	
  %

  
	
  David Brewster,
  President and Chief Operating Officer

  	
   

  	
  70

  	
  %

  
	
  Neal Isaacson,
  Chief Financial Officer

  	
   

  	
  50

  	
  %

  
	
  Gregg Dixon,
  Senior Vice President

  	
   

  	
  $

  	
  200,000

  	
   

  
	
  David Samuels,
  Senior Vice President and General Counsel

  	
   

  	
  50

  	
  %

  
	
  Terrence Sick, Vice
  President

  	
   

  	
  30

  	
  %

  
					

 

The bonuses will be paid within
90 days of the determination of the amount, in cash, stock or some combination
thereof, as determined based on a bonus plan to be finalized by the
Compensation Committee of the Board at a future meeting. Actual bonuses
may be higher or lower than the executive’s bonus target.Exhibit 10.15

FIRST
AMENDMENT

TO

SECOND
AMENDED AND RESTATED 

LOAN AND SECURITY AGREEMENT

THIS FIRST AMENDMENT
to Second Restated Loan and Security Agreement (this “Amendment”) is entered
into this 27 day of June, 2007, by and between Silicon Valley Bank (“Bank”) and
QUICKLOGIC CORPORATION, a Delaware
corporation (“Borrower”) whose address is 1277 Orleans Drive, Sunnyvale,
California 94089-1138

RECITALS

A.            Borrower
and Bank have previously entered into that certain Second Amended and Restated
Loan and Security Agreement dated as of June 30, 2006 (as the same may from
time to time be further amended, modified, supplemented or restated,
collectively, the “Loan Agreement”).

B.            Bank
has extended credit to Borrower for the purposes permitted in the Loan
Agreement.

C.            Borrower
has requested that Bank amend the Loan Agreement to (i) add a second
equipment loan facility and (ii) make certain other revisions to the Loan
Agreement as more fully set forth herein.

D.            Bank
has agreed to so amend certain provisions of the Loan Agreement, but only to
the extent, in accordance with the terms, subject to the conditions and in
reliance upon the representations and warranties set forth below.

AGREEMENT

NOW, THEREFORE, in consideration of the foregoing
recitals and other good and valuable consideration, the receipt and adequacy of
which is hereby acknowledged, and intending to be legally bound, the parties
hereto agree as follows:

1.             Definitions.  Capitalized terms used but not defined in
this Amendment shall have the meanings given to them in the Loan Agreement.

2.             Amendments
to Loan Agreement.

2.1          Section 2.1.8 (Second  Equipment  Advances).  The following new Section 2.1.8 captioned “Second
Equipment Advances” is hereby added to the Loan Agreement immediately after
Section 2.1.7.:

 1
 

2.1.8       Second
Equipment Advances

(i)            Availability.  Subject to the terms and conditions of this
Agreement, by the Second Equipment Availability End Date, Bank shall make
advances (each, a “Second  Equipment Advance” and, collectively, “Second
Equipment Advances”) not exceeding the Second Equipment Line.  Second Equipment Advances may only be used to
finance Eligible Equipment purchased within ninety (90) days (determined based
upon the applicable invoice date of such Eligible Equipment) before the date of
each Equipment Advance, and no Second Equipment Advance may exceed 100% of the
total invoice for Eligible Equipment, excluding taxes, shipping, warranty
charges, freight discounts and installation expenses relating to such Eligible
Equipment.  Unless otherwise agreed to by
Bank, not more than 75% of any Second Equipment Advance may be used to finance
Eligible Equipment comprised of software licenses, mask sets, foreign domiciled
equipment, leasehold improvements, sales tax, shipping, warranty charges, freight,
and installation expenses (“Soft Costs”). 
Each Second Equipment Advance must be for a minimum of $50,000 and only
one Second Equipment Advance per month shall be available.

(ii)           Borrowing
Procedure.  Subject to the prior
satisfaction of all other applicable conditions to the making of a Second
Equipment Advance set forth in this Agreement, to obtain a Second Equipment
Advance, Borrower must notify Bank (which notice shall be irrevocable) by
electronic mail or facsimile no later than 12:00 p.m. Pacific time one (1)
Business Day before the proposed funding date. 
The notice shall be in the form of Exhibit B, must be signed by a
Responsible Officer or designee, and shall include a copy of the invoice for
the Equipment being financed.

(iii)          Repayment.  Each Second Equipment Advance shall
immediately amortize and be payable in 36 equal payments of principal and
interest beginning on the first day of the month following such Second
Equipment Advance and continuing on the same day of each month thereafter.  On the applicable Second Equipment Line
Maturity Date all outstanding principal, and all accrued unpaid interest shall
be due and payable.

(iv)          Prepayment.  Borrower may prepay any or all amounts owing
under any Second Equipment Advance without penalty or premium; provided
however, that notwithstanding the foregoing, all prepayments for any Fixed Rate
Advances after June 28, 2007 are subject to a prepayment fee of 1% of the
aggregate amount of principal outstanding on any such Second Equipment Advance.

(v)           Prepayment
Upon an Event of Loss.  Borrower
shall bear the risk of any loss, theft, destruction, or damage of or to the
Financed Equipment.  If, during the term
of this Agreement, any item of Financed Equipment becomes obsolete or is lost,
stolen, destroyed, damaged beyond repair, 

 2
 

rendered permanently unfit for use, or seized by a
governmental authority for any reason for a period equal to at least the
remainder of the term of this Agreement (an “Event of Loss”), then, if no Event
of Default has occurred or is continuing, within ten (10) days following such
Event of Loss, at Borrower’s option, Borrower shall (i) pay to Bank on account
of the Obligations all accrued interest to the date of the prepayment, plus all
outstanding principal owing with respect to the Financed Equipment subject to
the Event of Loss; or (ii) repair or replace any Financed Equipment subject to
an Event of Loss provided the repaired or replaced Financed Equipment is of
equal or like value to the Financed Equipment subject to an Event of Loss and
provided further that Bank has a first priority perfected security interest in
such repaired or replaced Financed Equipment.

2.2          Section 2.3  (Interest Rate; Payments). 
Section 2.3(a)(ii) is amended in its entirety and replaced with the
following:

(ii)           Equipment Advances and
Second Equipment Advances shall accrue interest on the outstanding principal
balance at (y) a per annum rate of 100 basis points (1.00%) above the Prime
Rate or (z) a fixed rate equal to 400 basis points (4%) above the Treasury
Rate.  After an Event of Default,
Obligations accrue interest at 5% above the rate effective immediately before
the Event of Default. The interest rate increases or decreases when the Prime
Rate changes.  Interest is computed on a
360 day year for the actual number of days elapsed.

2.3          Section 2.3 (Interest Rate; Payments).  Section 2.3(b) is amended in its entirety and
replaced with the following:

(b)           Payments.  Interest due on the Committed Non-Formula
Revolving Line is payable on the first day of each month.  Interest due on the Equipment Advances and
Second Equipment Advances is payable on the first day of each month.  Bank may debit any of Borrower’s deposit
accounts for principal and interest payments owing under this Agreement or any
amounts Borrower owes Bank.  These debits
are not a set-off.  Payments received
after 12:00 noon Pacific time are considered received at the opening of
business on the next Business Day.  When
a payment is due on a day that is not a Business Day, the payment is due the next
Business Day and additional fees or interest accrue, however solely making such
payment on the next Business Day shall not result in an Event of Default.

2.4          Section 2.4  (Second  Equipment Line Fee).  The following term is hereby added to Section
2.4:

(d)           Second
Equipment Line Fee.  On or before
the Second Equipment Line Closing Date, an equipment line fee (the “Second
Equipment Line Fee”) equal to $6,250 due, payable and fully earned on the
Second Equipment Line Closing Date; provided that the Second Equipment Line Fee

 3
 

shall be waived if 50% of the Committed Equipment Line
is drawn on the Second Equipment Line Closing Date.

2.5          Section 6.8 (Financial Covenants). 
Section 6.8(i) is amended in its entirety and replaced with the
following:

(i)            Tangible Net Worth.  A Tangible Net Worth of at least $28,000,000.

2.6          Section 9.1(a) (Rights and Remedies).  Section 9.1(a) is amended in its entirety and
replaced with the following:

9.1(a)      Declare
all Obligations, including Obligations resulting from any Equipment Advance or
Second Equipment Advance, immediately due and payable (but if an event of
Default described in Section 8.5 occurs, all Obligations, including Obligations
resulting from any Equipment Advance or Second Equipment Advance, are
immediately due and payable without any action by Bank).

2.7          Section 13 (Definitions).  The following terms and their respective
definitions set forth in Section 13.1 are amended in their entirety and
replaced with the following:

“Credit Extension” is each Non-Formula Advance, Equipment
Advance, Second Equipment Advance, Letter of Credit, Exchange Contract, or any
other extension of credit by Bank for Borrower’s benefit.

“Financed Equipment” is all present and
future Eligible Equipment in which Borrower has any interest, the purchase of
which is financed by an Equipment Advance or a Second Equipment Advance.

“Fixed Rate Advance” is any Equipment Advance or Second
Equipment Advance subject to interest under the fixed Treasury Rate.

2.8          Section 13 (Definitions).  The following defined terms are hereby added
to Section 13.1 in the appropriate alphabetical order:

“Second Equipment Availability End Date”
is the period of time from the Second Equipment Line Closing Date through June
28, 2008.

“Second  Equipment
Advance”  is defined in
Section 2.1.8.

“Second  Equipment
Line Closing Date” is date first written above in this Amendment.

 4
 

“Second  Equipment
Line”  is a Second Equipment Advance or
Second Equipment Advances in an aggregate amount of up to $2,500,000
outstanding at any time.

“Second  Equipment
Line Maturity Date” is, for each Second Equipment Advance, the
earlier of:  (i) a date 36 months after
such Second Equipment Advance, or (ii) July 1, 2011.

2.9          Exhibit C (Compliance
Certificate).  The Compliance
Certificate following attached as Exhibit C to the Loan Agreement is hereby
amended in its entirety and replaced with the form of Exhibit C attached to
this Amendment.

3.             Limitation
of Amendments.

3.1          The amendments set
forth in Section 2, above,
are effective for the purposes set forth herein and shall be limited precisely
as written and shall not be deemed to (a) be a consent to any amendment,
waiver or modification of any other term or condition of any Loan Document, or
(b) otherwise prejudice any right or remedy which Bank may now have or may
have in the future under or in connection with any Loan Document.

3.2          This Amendment shall
be construed in connection with and as part of the Loan Documents and all
terms, conditions, representations, warranties, covenants and agreements set
forth in the Loan Documents, except as herein amended, are hereby ratified and
confirmed and shall remain in full force and effect.

4.             Representations and
Warranties.  To induce Bank to enter
into this Amendment, Borrower hereby represents and warrants to Bank as
follows:

4.1          Immediately after
giving effect to this Amendment (a) the representations and warranties
contained in the Loan Documents are true, accurate and complete in all material
respects as of the date hereof (except to the extent such representations and
warranties relate to an earlier date, in which case they are true and correct
as of such date), and (b) no Event of Default has occurred and is
continuing;

4.2          Borrower has the
power and authority to execute and deliver this Amendment and to perform its
obligations under the Loan Agreement, as amended by this Amendment;

4.3          The organizational
documents of Borrower delivered to Bank on the Closing Date remain true,
accurate and complete and have not been amended, supplemented or restated and
are and continue to be in full force and effect;

4.4          The execution and
delivery by Borrower of this Amendment and the performance by Borrower of its
obligations under the Loan Agreement, as amended by this Amendment, have been
duly authorized;

 5
 

4.5          The execution and
delivery by Borrower of this Amendment and the performance by Borrower of its
obligations under the Loan Agreement, as amended by this Amendment, do not and
will not contravene (a) any law or regulation binding on or affecting
Borrower, (b) any contractual restriction with a Person binding on
Borrower, (c) any order, judgment or decree of any court or other
governmental or public body or authority, or subdivision thereof, binding on
Borrower, or (d) the organizational documents of Borrower;

4.6          The execution and
delivery by Borrower of this Amendment and the performance by Borrower of its
obligations under the Loan Agreement, as amended by this Amendment, do not
require any order, consent, approval, license, authorization or validation of,
or filing, recording or registration with, or exemption by any governmental or
public body or authority, or subdivision thereof, binding on either Borrower,
except as already has been obtained or made; and

4.7          This Amendment has
been duly executed and delivered by Borrower and is the binding obligation of
Borrower, enforceable against Borrower in accordance with its terms, except as
such enforceability may be limited by bankruptcy, insolvency, reorganization,
liquidation, moratorium or other similar laws of general application and
equitable principles relating to or affecting creditors’ rights.

5.             Counterparts.  This Amendment may be executed in any number
of counterparts and all of such counterparts taken together shall be deemed to
constitute one and the same instrument.

6.             Effectiveness.  This Amendment shall be deemed effective upon
the due execution and delivery to Bank of this Amendment by each party hereto.

[Signature page
follows.]

 6

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

	
  BANK

  	
  BORROWER

  
	
   

  	
   

  
	
  SILICON VALLEY BANK

  	
  QUICKLOGIC CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
  BY:

  	
   /s/ Rick
  Freeman

  	
   

  	
  BY:

  	
  /s/ Carl M. Mills

  	
   

  
	
  NAME:

  	
  Rick  Freeman

  	
   

  	
  NAME:

  	
  Carl M. Mills

  	
   

  
	
  TITLE:

  	
  Relationship Manager

  	
   

  	
  TITLE:

  	
  VP Finance and CFO

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