Document:

Lease Agreement

 Exhibit 10.11 
 LEASE 
 (MULTI-TENANT MODIFIED NET) 

by and between 

525 RACE STREET, LLC 
 (“Landlord”) 
 and 

VOCERA COMMUNICATIONS, INC. 
 (“Tenant”) 
  
 For the approximately 46,305 SF Premises at 
 525 Race Street, San Jose, CA

 TABLE OF CONTENTS 

 

									
	 	  	 	    	 	  	Page	 
	1.	  	Basic Lease Provisions	  	 	1	  
		  	          1.1	    	Premises	  	 	1	  
		  	          1.2	    	Building	  	 	1	  
		  	          1.3	    	Anticipated Commencement Date	  	 	1	  
		  	          1.4	    	Term	  	 	1	  
		  	          1.5	    	Use	  	 	1	  
		  	          1.6	    	Monthly Rent	  	 	2	  
		  	          1.7	    	Security Deposit	  	 	2	  
		  	          1.8	    	Property	  	 	2	  
		  	          1.9	    	Brokers	  	 	2	  
			
	2.	  	Premises	  	 	2	  
			
	3.	  	Definitions	  	 	2	  
		  	          3.1	    	Alterations	  	 	2	  
		  	          3.2	    	Commencement Date	  	 	2	  
		  	          3.3	    	Common Area	  	 	2	  
		  	          3.4	    	HVAC	  	 	2	  
		  	          3.5	    	Interest Rate	  	 	2	  
		  	          3.6	    	Landlord’s Agents	  	 	2	  
		  	          3.7	    	Outside Area	  	 	2	  
		  	          3.8	    	Real Property Taxes	  	 	3	  
		  	          3.9	    	Rent	  	 	3	  
		  	          3.10	    	Sublet	  	 	3	  
		  	          3.11	    	Subtenant	  	 	3	  
		  	          3.12	    	Tenant Improvements	  	 	3	  
		  	          3.13	    	Tenant’s Agents	  	 	3	  
		  	          3.14	    	Tenant’s Percentage	  	 	3	  
		  	          3.15	    	Tenant’s Personal Property	  	 	3	  
			
	4.	  	Lease Term	  	 	4	  
		  	          4.1	    	Term	  	 	4	  
		  	          4.2	    	Early Entry	  	 	4	  
				
	5.	  	Rent	    		  	 	4	  
		  	          5.1	    	Monthly Rent	  	 	4	  
		  	          5.2	    	Additional Rent	  	 	4	  
			
	6.	  	Late Payment Charges	  	 	5	  
			
	7.	  	Security Deposit	  	 	5	  
			
	8.	  	Holding Over	  	 	5	  
			
	9.	  	Condition of Premises	  	 	5	  

  
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	10.	  	Use of the Premises	  	 	6	  
		  	          10.1	    	Tenant’s Use	  	 	6	  
		  	          10.2	    	Compliance	  	 	6	  
			
	11.	  	Quiet Enjoyment	  	 	7	  
			
	12.	  	Alterations	  	 	7	  
			
	13.	  	Surrender of the Premises	  	 	7	  
			
	14.	  	Real Property Taxes	  	 	8	  
		  	          14.1	    	Payment by Tenant	  	 	8	  
		  	          14.2	    	Taxes on Tenant Improvements and Personal Property	  	 	8	  
		  	          14.3	    	Proration	  	 	8	  
			
	15.	  	Utilities and Services	  	 	8	  
			
	16.	  	Repair and Maintenance	  	 	9	  
		  	          16.1	    	Landlord’s Obligations	  	 	9	  
		  	          16.2	    	Tenant’s Obligations	  	 	9	  
		  	          16.3	    	Tenant to Pay Operating Expenses	  	 	10	  
		  	          16.4	    	Monthly Payments	  	 	11	  
		  	          16.5	    	Tenant’s Audit Rights	  	 	11	  
		  	          16.6	    	Waiver	  	 	12	  
		  	          16.7	    	Compliance with Government Regulations	  	 	12	  
			
	17.	  	Liens	  	 	12	  
			
	18.	  	Landlord’s Right to Enter the Premises	  	 	12	  
			
	19.	  	Signs	  	 	13	  
			
	20.	  	Insurance	  	 	13	  
		  	          20.1	    	Tenant’s Indemnification	  	 	13	  
		  	          20.2	    	Tenant’s Insurance	  	 	13	  
		  	          20.3	    	All-Risk Insurance	  	 	14	  
		  	          20.4	    	Certificates	  	 	14	  
		  	          20.5	    	Insurance Requirements	  	 	14	  
		  	          20.6	    	Landlord’s Disclaimer	  	 	15	  
			
	21.	  	Waiver of Subrogation	  	 	15	  
			
	22.	  	Damage or Destruction	  	 	15	  
		  	          22.1	    	Partial Damage Insured	  	 	15	  
		  	          22.2	    	Partial Damage – Uninsured	  	 	16	  
		  	          22.3	    	Total Destruction	  	 	16	  
		  	          22.4	    	Landlord’s Obligations	  	 	16	  
		  	          22.5	    	Damage Near End of Term	  	 	17	  

  
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	23.	  	Condemnation	  	 	17	  
			
	24.	  	Assignment and Subletting	  	 	17	  
		  	          24.1	    	Landlord’s Consent	  	 	17	  
		  	          24.2	    	Information to Be Furnished	  	 	18	  
		  	          24.3	    	Landlord’s Alternatives	  	 	18	  
		  	          24.4	    	Executed Counterpart	  	 	18	  
		  	          24.5	    	Exempt Sublets	  	 	18	  
		  	          24.6	    	Sublet Profits	  	 	18	  
			
	25.	  	Default	  	 	19	  
		  	          25.1	    	Tenant’s Default	  	 	19	  
		  	          25.2	    	Remedies	  	 	19	  
		  	          25.3	    	Landlord’s Default	  	 	20	  
			
	26.	  	Subordination	  	 	20	  
			
	27.	  	Notices	  	 	21	  
			
	28.	  	Attorneys’ Fees	  	 	21	  
			
	29.	  	Tenant Statements	  	 	21	  
		  	          29.1	    	Estoppel Certificates	  	 	22	  
		  	          29.2	    	Financial Statements	  	 	22	  
			
	30.	  	Transfer of the Premises by Landlord	  	 	22	  
			
	31.	  	Landlord’s Right to Perform Tenant’s Covenants	  	 	22	  
			
	32.	  	Tenant’s Remedy	  	 	23	  
			
	33.	  	Mortgagee Protection	  	 	23	  
			
	34.	  	Brokers	  	 	23	  
			
	35.	  	Acceptance	  	 	23	  
			
	36.	  	Recording	  	 	23	  
			
	37.	  	Quitclaim	  	 	23	  
			
	38.	  	Modification for Lender	  	 	23	  
			
	39.	  	Parking	  	 	23	  
			
	40.	  	Option to Extend	  	 	24	  
			
	41.	  	Right of First Refusal to Lease Additional Space	  	 	25	  

  
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	42.	  	Landlord’s Contingency	  	 	26	  
			
	43.	  	Roof Rights	  	 	26	  
			
	44.	  	General	  	 	27	  
		  	          44.1  	    	Captions	  	 	27	  
		  	          44.2  	    	Executed Copy	  	 	27	  
		  	          44.3  	    	Time	  	 	27	  
		  	          44.4  	    	Separability	  	 	27	  
		  	          44.5  	    	Choice of Law	  	 	27	  
		  	          44.6  	    	Gender, Singular, Plural	  	 	28	  
		  	          44.7  	    	Binding Effect	  	 	28	  
		  	          44.8  	    	Waiver	  	 	28	  
		  	          44.9  	    	Entire Agreement	  	 	28	  
		  	          44.10	    	Authority	  	 	28	  
		  	          44.11	    	Exhibits	  	 	29	  

  
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 TABLE OF EXHIBITS 

 

					
			
	EXHIBIT A	    		  	The Premises
			
	EXHIBIT B	    		  	The Property
			
	EXHIBIT C	    		  	Commencement Date Memorandum
			
	EXHIBIT D	    		  	Work Letter Agreement

 LEASE
SUMMARY                                        

  

					
	Lease Date:	  	September 26, 2007
		
	Landlord:	  	525 Race Street, LLC
		
	Address of Landlord:	  	 c/o Toeniskoetter & Breeding, Inc. Development
 1960 The Alameda, Suite 20
 San Jose, CA 95126

		
	Tenant:	  	Vocera Communications, Inc.
		
	Address of Tenant:	  	 20600 Lazaneo Drive
 3rd Floor
 Cupertino, California 95014

		
	Contact:	  	Martin Silver, CFO
		
	Telephone:	  	(408) 790-4100
		
	Premises Square Footage:	  	 Approximately 46,305 square feet (subject to verification in
 accordance with paragraph 1.1)

		
	Building Square Footage:	  	 Approximately 70,000 square feet (subject to verification in
 accordance with Paragraph 1.1)

		
	Premises Address:	  	 525 Race Street

San Jose, California

		
	Anticipated Commencement
 Date:
	  	December 1, 2007
		
	Term:	  	Five (5) years
			
	Monthly Rent:	  	          Months of Term	  	Monthly Rent
			
		  	1 through 2              	  	        $0.00/month                 
 
		  	3 through 12              	  	$34,728.75/month                  
		  	13 through 24              	  	$76,403.25/month                  
		  	25 through 36              	  	$83,349.00/month                  
		  	37 through 48              	  	$85,664.25/month                  
		  	49 through 60              	  	$87,979.50/month                  
			
	Tenant’s Percentage:	  	66.15%	  	
			
	Security Deposit:	  	$83,349.00	  	

 STANDARD MULTI-TENANT LEASE – TRIPLE NET 

THIS LEASE (the “Lease”), for reference purposes only dated September 26, 2007, is entered into by and
between 525 RACE STREET, LLC, a California limited liability company (“Landlord”), whose address is c/o Toeniskoetter & Breeding, Inc. Development, 1960 The Alameda, San Jose, California 95126 and VOCERA COMMUNICATIONS, INC., a
Delaware corporation (“Tenant”), whose address is 20600 Lazaneo Drive, 3rd Floor, Cupertino, California 95014. 

1.        Basic Lease Provisions. 

1.1      Premises.   Those premises consisting of approximately forty-six
thousand three hundred five (46,305) rentable square feet in the Building located at 525 Race Street, San Jose, California, as shown on EXHIBIT A attached hereto. Within thirty (30) days after the date of this Lease, Tenant shall engage an
architect to measure and verify the rentable square footage of the Premises and the Building based on the Standard Method for Measuring Floor Area in Office Buildings (ANSI/BOMA Z65.1-1996) published by the Building Owners and Managers Association
International (“BOMA Standard”), which verification shall be subject to the review and approval of Landlord’s architect, also in accordance with the BOMA Standard. In the event of a discrepancy, Landlord’s architect and
Tenant’s architect shall consult in good faith to attempt to resolve such discrepancy. If such architects are unable to resolve such discrepancy, Landlord and Tenant shall select an independent architect (other than Landlord’s architect or
Tenant’s architect) to determine the rentable area of the Premises. If Landlord and Tenant cannot mutually agree to an independent architect, then Landlord and Tenant shall request that the American Arbitration Association select an arbitrator
who will select an independent architect to determine the rentable area of the Premises. The determination of the independent architect shall be final and conclusive on the parties. The cost of such arbitrator and independent architect shall be
borne by Tenant unless such independent architect determines that Landlord’s measurement was in error by more then than three percent (3%), in which event Landlord shall pay for the cost of such arbitrator and independent architect. Upon final
verification of the rentable area in the Premises, the Monthly Rent, Tenant’s Percentage and any other figures referenced in this Lease that are based on the rentable square footage of the Premises or the Building shall be appropriately
adjusted. 
 1.2      Building.   That certain two-story
building consisting of approximately seventy thousand (70,000) square feet, commonly known as 525 Race Street, San Jose, California. 
 1.3      Anticipated Commencement Date.   December 1, 2007. 
 1.4      Term.   Five (5) years. 
 1.5      Use.   General office, sales, research and development, assembly, light manufacturing, shipping, receiving and storage. 

  
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		 	 1.6      Monthly Rent.
	 	         Months of Term
	 	Monthly Rent        
				
		 		 	 1 through 2
	 	$0.00/month
		 		 	 3 through 12
	 	$34,728.75/month
		 		 	 13 through 24
	 	$76,403.25/month
		 		 	 25 through 36
	 	$83,349.00/month
		 		 	 37 through 48
	 	$85,664.25/month
		 		 	 49 through 60
	 	$87,979.50/month

 1.7      Security Deposit.   $83,349.00

 1.8      Property.   The real property more particularly
described on EXHIBIT B. 
 1.9      Brokers.  
Cornish & Carey Commercial. 

2.        Premises.   Landlord hereby leases to Tenant and
Tenant hereby leases from Landlord the Premises. 

3.        Definitions.   The following terms shall have the
following meetings in this Lease: 
 3.1       Alterations.  
Any alterations, additions or improvements made in, on or about the Building by Tenant after the Commencement Date, including, but not limited to, lighting, heating, ventilating, air conditioning, electrical, permanent partitioning, drapery and
carpentry installations. The terms “Alterations” shall not include the Tenant Improvements. 

3.2      Commencement Date.   The Commencement Date of this Lease shall
be the date which is the later of (a) December 1, 2007, and (b) forty-five (45) days from the date that Landlord delivers possession of the Premises to Tenant. Once the actual Commencement Date has been determined pursuant to the
foregoing, the parties shall execute a Commencement Date Memorandum in the form attached hereto as EXHIBIT C. 

3.3      Common Area.   All areas and facilities within the Building
provided and designated by Landlord for the general use and convenience of Tenant and other tenants and occupants of any part of the Building, subject to the rules and regulations and changes therein from time to time promulgated by Landlord
governing the use of the Common Area. 
 3.4      HVAC.  
Heating, ventilating and air conditioning. 
 3.5      Interest
Rate.   Ten percent (10%) per annum, however, in no event to exceed the maximum rate of interest permitted by law. 
 3.6      Landlord’s Agents.   Landlord’s authorized agents, partners, subsidiaries, directors, officers, and employees. 

3.7      Outside Area.   All areas and facilities within the Property,
exclusive of the Building, including, without limitation, the parking areas, access and perimeter roads, sidewalks, landscaped areas, service areas, trash disposal facilities, and similar areas and facilities. Landlord shall at all times have
exclusive control of the Outside Area and may at any reasonable 

  
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time temporarily close any part thereof, exclude and restrain anyone from any part thereof, except the bona fide customers, employees and invitees of Tenant who use such areas in accordance with
the reasonable rules and regulations as Landlord may from time to time promulgate, and may reasonably change the configuration or location of the Outside Area. In exercising any such rights, Landlord shall use diligent efforts to minimize any
disruption of Tenant’s business. Landlord shall have the right to reconfigure the parking area and ingress to and egress from the parking area, and to modify the directional flow of traffic of the parking area; provided, however, that Landlord
shall not reduce the total number of parking spaces available to Tenant in the parking area by more than five percent (5%). 
 3.8      Real Property Taxes.   Any form of assessment, license, fee, rent tax, levy, penalty (if a result of Tenant’s delinquency), or tax (other than
net or taxable income, estate, succession, inheritance, gift, transfer or franchise taxes), imposed against the Property or Building by any authority having the direct or indirect power to tax, or by any city, county, state or federal government or
any improvement or other district or division thereof, whether such tax is: (i) determined by the area of the Property or any part thereof or the rent and other sums payable hereunder by Tenant, including, but not limited to, any gross income
or excise tax levied by any of the foregoing authorities with respect to receipt of such rent or other sums due under this Lease; (ii) upon any legal or equitable interest of Landlord in the Property or the Building or any part thereof;
(iii) upon this transaction or any document to which Tenant is a party creating or transferring any interest in all or any part of the Property; or (iv) levied or assessed in lieu of, in substitution for, or in addition to, existing taxes
against the Property whether or not now customary or within the contemplation of the parties. 

3.9      Rent.   The net Monthly Rent plus the Additional Rent described
in Paragraph 5.2. 
 3.10    Sublet.   Any transfer, sublet, assignment,
license or concession agreement, change of ownership, mortgage, or hypothecation of this Lease or the Tenant’s interest in the Lease or any portion thereof. 

3.11    Subtenant.   The person or entity with whom a Sublet agreement is proposed
to be or is made. 
 3.12    Tenant Improvements.   Those improvements to
the Premises, if any, to be constructed by Tenant pursuant to the terms of the Work Letter Agreement attached as EXHIBIT C. 
 3.13    Tenant’s Agents.   Tenant’s authorized agents, partners, subsidiaries, directors, officers, and employees. 

3.14    Tenant’s Percentage.   Tenant’s Percentage shall be that
percentage determined by dividing the area of the Premises by the total area of the Building and multiplying the result by 100. Tenant’s Percentage shall be sixty-six and 15/100ths percent (66.15%). 

3.15    Tenant’s Personal Property.   Tenant’s trade fixtures, furniture,
equipment and other personal property in the Premises. 

  
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 4.        Lease Term.

 4.1      Term.   The Term shall be five (5) years,
commencing on the Commencement Date and ending five (5) years thereafter, unless sooner terminated as provided herein, and subject to any option to extend the Term granted herein. Landlord shall use commercially reasonable efforts to deliver
vacant possession of the Premises to Tenant in the condition specified in Paragraph 9 hereof by October 1, 2007. If for reasons beyond its control Landlord is unable to deliver possession of the Premises to Tenant by October 1, 2007,
Landlord shall not be subject to liability therefore, nor shall such failure affect the validity of this Lease, but in such event the Term of this Lease shall not commence until the date that is forty-five (45) days from the date that Landlord
delivers possession of the Premises to Tenant. Notwithstanding the foregoing, if Landlord fails to deliver vacant possession of Premises to Tenant in the condition specified in Paragraph 9 hereof on or before November 1, 2007, then Tenant shall
have the right to terminate this Lease upon written notice delivered to Landlord prior to Landlord’s delivery of vacant possession of the Premises to Tenant in the condition specified in Paragraph 9 hereof; whereupon Landlord shall return to
Tenant the Security Deposit and all prepaid Rent. 
 4.2      Early
Entry.   Landlord shall deliver vacant possession of the Premises to Tenant in the condition specified in Paragraph 9 hereof and Tenant shall be permitted to enter the Premises promptly upon termination of that certain Lease dated
December 30, 1997, as amended, between Landlord and Integrated Circuit Systems, Inc. (the “ICS Lease”), for the purpose of constructing any Tenant Improvements, installing Tenant’s furniture, fixtures and equipment, and otherwise
preparing the Premises for Tenant’s occupancy. Such early entry shall be at Tenant’s sole risk and subject to all the terms and provisions hereof, except for the payment of Additional Rent, which shall commence on the Commencement Date,
and the payment of Monthly Rent, which shall commence on the first day of the third month of the Term; provided, however, that if Tenant commences occupancy of the Premises prior to the Commencement Date, then Tenant shall pay Tenant’s
Percentage of Real Property Taxes, Operating Expenses and insurance premiums, together with all charges for any utilities separately metered to the Premises, commencing with the date of such occupancy by Tenant. 

5.        Rent. 

5.1      Monthly Rent.   Tenant shall pay to Landlord, in lawful money of
the United States, commencing on the Commencement Date and continuing thereafter on the first (1st) day of each calendar month throughout the Term, the net Monthly Rent for the Premises set forth in Section 1.6 above. Net Monthly Rent shall be payable in advance, without abatement,
deduction, claim, offset, prior notice or demand, except as otherwise specifically provided herein. The net Monthly Rent due for the third month of the Term shall be paid by Tenant upon execution of this Lease. 

5.2      Additional Rent.   This Lease is intended to be a triple net
lease. All monies required to be paid by Tenant under this Lease, including, without limitation, Real Property Taxes pursuant to Paragraph 14, Operating Expenses pursuant to Paragraph 16, and insurance premiums pursuant to Paragraph 20, shall be
deemed Additional Rent and shall be payable as of the Commencement Date. 

  
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 6.        Late Payment
Charges.   Tenant acknowledges that late payment by Tenant to Landlord of Rent and other charges provided for under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being
extremely difficult or impracticable to fix. Therefore, notwithstanding the notice provision in Paragraph 25.1.1, if any installment of Rent or any other charge due from Tenant is not received by Landlord within five (5) days of the date due,
Tenant shall pay to Landlord an additional sum equal to five percent (5%) of the amount overdue as a late charge; provided, however, that no such late charge shall be due for the first three (3) late payments occurring during the Term
unless such late payment is not received within five (5) days after written notice thereof from Landlord to Tenant. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Landlord will incur by
reason of the late payment by Tenant. 
 Initials: 

 

			
	         /s/ Brad
W. Krouskup
	 	         /s/ Martin J.
Silver

	 Landlord
	 	 Tenant

 7.        Security Deposit.  
Tenant shall deposit with Landlord, upon execution of this Lease, cash in the amount set forth in Section 1.7 above as security for the full and faithful performance of every provision of this Lease to be performed by Tenant. If Tenant commits
an Event of Default with respect to any provision of this Lease, Landlord may apply all or any part of the Security Deposit for the payment of any Rent or other sum in default, the repair of such damage to the Premises or the payment of any other
amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default to the full extent permitted by law.
Tenant hereby waives any restriction on the use or application of the Security Deposit by Landlord as set forth in California Civil Code Section 1950.7. If any portion of the Security Deposit is so applied, Tenant shall, within ten
(10) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount. The Security Deposit or any balance thereof shall be returned to Tenant within thirty
(30) days of termination of the Lease; provided, however, that Landlord may retain such portion of the Security Deposit as Landlord reasonably deems to be necessary to cure any default of Tenant under this Lease existing as of such termination.

 8.        Holding Over.   If Tenant remains in
possession of all or any part of the Premises after the expiration of the Term, with or without the express or implied consent of Landlord, such tenancy shall be from month-to-month only and not a renewal hereof or any extension of any further term,
and in such case, the net Monthly Rent shall be one hundred fifty percent (150%) of the net Monthly Rent payable during the last month of the Term and such month-to-month tenancy shall be subject to every other term, covenant and agreement of
this Lease. 
 9.        Condition of Premises.  
Landlord shall deliver the Premises to Tenant fully demised and with the roof membrane in good condition and repair and with all Building systems, including, but not limited to, HVAC, life safety, electrical, and plumbing, in good working condition.
Landlord warrants that such Building systems shall be in good working condition for a period of one hundred twenty (120) days following the Commencement Date, and Landlord 

  
 - 5 -

 
shall promptly repair such systems, at its sole costs and expense (and not as an Operating Expense), as necessary to fulfill such warranty; provided, however, that if any such repairs are
required as a result of the negligence or willful misconduct of Tenant, its agents, employees, or contractors or as a result of the construction or installation of the Tenant Improvements, such repairs shall be made by Tenant at Tenant’s sole
expense. Tenant acknowledges that neither Landlord nor its Agents have agreed to undertake any Alterations or construct any improvements to the Premises except as expressly provide in this Lease. Any Tenant Improvements to the Premises shall be
constructed by Tenant in accordance with the Work Letter Agreement attached hereto as EXHIBIT C. 
 Tenant
shall be permitted to use, during the Term of this Lease and at no additional charge for the use thereof, the furniture, trade fixtures and equipment in the Premises as of the date that possession of the Premises is delivered to Tenant, including
not less than 86 Techion cubicles and the conference table in the large conference room on the second floor of the Premises (collectively, the “FF&E”); provided, however, that the FF&E shall remain the property of Landlord and
shall not be removed from the Premises at any time, except that Tenant may remove an dispose of any FF&E that becomes obsolete, worn out, or unusable, or is demolished as part of the construction of the Tenant Improvements. Landlord shall
deliver the FF&E to Tenant and Tenant shall accept the FF&E, in its present condition, “AS IS,” without any representation or warranty as to the condition thereof or its fitness for any particular purpose. Tenant shall surrender
the FF&E to Landlord at the expiration or sooner termination of this Lease in the same condition existing as of the date that possession of the Premises was delivered to Tenant, ordinary wear and tear excepted. 

10.        Use of the Premises. 

10.1      Tenant’s Use.   Tenant shall use the Premises solely for
the purposes specified in Paragraph 1.5 and shall not use the Premises for any other purpose without obtaining the prior written consent of Landlord which consent shall not be unreasonably withheld. 

10.2      Compliance.   Tenant shall not use the Premises or suffer or
permit anything to be done in or about the Premises which will violate any law, statute, zoning restriction, ordinance or governmental law, rule, regulation or requirement of duly constituted public authorities now in force or which may hereafter be
in force, or the requirements of the Board of Fire Underwriters or other similar body now or hereafter constituted relating to or affecting the use or occupancy of the Premises. Tenant shall not commit any public or private nuisance or any other act
or thing which might or would unreasonably disturb the quiet enjoyment of any other tenant of Landlord or any occupant of nearby property. Tenant shall place no loads upon the floors, walls or ceilings in excess of the maximum designed load
determined by Landlord or which endanger the structure; nor place any harmful liquids in the drainage systems; nor dump or store waste materials or refuse or allow such to remain outside the Building proper, except in the enclosed trash areas
provided, if any. Tenant shall not store or permit to be stored or otherwise placed any other material of any nature whatsoever outside the Building. In particular, Tenant, at its sole costs, shall comply with all laws relating to Tenant’s
storage, use and disposal of hazardous, toxic or radioactive matter, including those materials identified in 22 California Code of Regulations sections 66261.1 et seq., as they may be amended from time to time (collectively “Toxic
Materials”). If Tenant does store, use or dispose 

  
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of any Toxic Materials, other than office supplies and cleaning supplies typically used in administrative offices, Tenant shall notify Landlord in writing at least ten (10) days prior to
their first appearance on the Premises. Landlord shall defend, indemnify and hold Tenant harmless from and against any and all damage, loss, liability or expense including, without limitation, attorneys’ fees and legal costs suffered directly
or by reason of any claim, suit or judgment brought by or in favor of any person or persons for damage, loss or expense due to, but not limited to, bodily injury and property damage sustained by such person or persons which arises out of, is
occasioned by r in any way attributable to the presence of any Toxic Materials in, on or under the Premises, the Building and/or the Property which were not used, stored, released or disposed of in, on or under the Premises, the Building or the
Property by Tenant or its Subtenants or either of their respective agents, employees or invitees. 

11.        Quiet Enjoyment.   Landlord covenants that Tenant,
upon performing the terms, conditions and covenants of this Lease, shall have quiet and peaceful possession of the Premises as against any person claiming the same by, through or under Landlord. 

12.        Alterations.   After the Commencement Date, Tenant
shall not make or permit any Alterations in, on or about the Building except for nonstructural Alterations not exceeding Ten Thousand and no/100ths Dollars ($10,0000.00) in cost, without the prior written consent of Landlord, which consent shall not
be unreasonably withheld, and according to plans and specifications reasonably approved in writing by Landlord. Notwithstanding the foregoing, Tenant shall not, without the prior written consent of Landlord, make any (i) alterations to the
exterior of the Building; (ii) alterations to and penetrations of the roof of the Building; or (iii) alterations visible from outside the Building to which Landlord may withhold Landlord’s consent on wholly aesthetic grounds. Landlord
shall notify Tenant of Landlord’s approval or disapproval of any proposed Alterations within ten (10) business days after Landlord’s receipt of Tenant’s request therefore and copies of reasonably detailed plans and specifications
for the proposed Alterations. All Alterations shall be installed at Tenant’s sole expense, in compliance with all applicable laws and permit requirements by a licensed contractor, shall be done in a good and workmanlike manner conforming in
quality and design with the Premises existing as of the Commencement Date and shall not diminish the value of the Building. All Alterations made by Tenant shall be and become the property of Landlord upon the expiration or sooner termination of this
Lease and shall not be deemed Tenant’s Personal Property; provided, however, that Landlord may, at Landlord’s option (notice of which Landlord shall give Tenant at least 30 days prior to the expiration of the Term), require Tenant to
remove from the Premises no later than the expiration or earlier termination of this Lease, and at Tenant’s expense, any or all Alterations installed by Tenant; provided further that Landlord informs Tenant that it may require such removal at
the time Landlord consents to such Alterations. If Tenant removes any Alterations as required or permitted herein, Tenant shall repair any and all damage to the Premises caused by such removal, normal wear and tear excepted and subject to the
provisions of Paragraph 22. Notwithstanding any other provision of this Lease, Tenant shall be solely responsible for the maintenance and repair of any Alterations made by it to the Premises. The provisions of this Paragraph 12 shall not apply to
the Tenant Improvements. 
 13.        Surrender of the
Premises.   Upon the expiration or earlier termination of the Term, Tenant shall surrender the Premises to Landlord in its condition existing as of the date Tenant originally took possession of the Premises (as modified by any
Alterations permitted, 

  
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approved or deemed approved by Landlord, subject to Tenant’s obligation to remove such Alterations in accordance with Paragraph 12 hereof), normal wear and tear and fire or other casualty
excepted, with all interior areas clean. Tenant shall remove from the Premises all of Tenant’s Alterations required to be removed pursuant to Paragraph 12, and all Tenant’s Personal Property and repair any damage caused by such removal. If
Tenant fails to remove such Alterations and Tenant’s Personal Property, and such failure continues after the termination of this Lease, Landlord may retain such property and all rights of Tenant with respect to it shall cease, or Landlord may
place all or any portion of such property in public storage for Tenant’s account. Tenant shall be liable to Landlord for costs of removal of any such Alterations and Tenant’s Personal Property and storage and transportation costs of same,
and the cost of repairing and restoring the Premises, together with interest at the Interest Rate from the date of expenditure by Landlord. 
 14.        Real Property Taxes. 
 14.1      Payment by Tenant.   On April 1 and December 1 of each calendar year during the Term, Tenant shall pay to Landlord, as Additional Rent,
Tenant’s Percentage of the Real Property Taxes as set forth on the County assessor’s tax statement for the Premises. Landlord shall give Tenant at least ten (10) days prior written notice of the amount so due. If Tenant fails to pay
Tenant’s Percentage of the Real Property Taxes on or before April 1 and December 1, respectively, Tenant shall pay to Landlord any penalty incurred by such late payment. Tenant shall pay Tenant’s Percentage of any Real Property
Tax not included within the County tax assessor’s tax statement within ten (10) days after being billed for same by Landlord, provided however, Landlord shall not bill Tenant more than thirty (30) days prior to the due date of the tax
statement. The foregoing dates are based on the dates established by the County as the dates on which Real Property Taxes become delinquent if not paid. If such delinquency dates change, the dates on which Tenant must pay such taxes shall be at
least ten (10) days prior to the delinquency dates. Notwithstanding the above, if Landlord elects, Landlord may bill the Tenant on a monthly basis Landlord’s reasonable estimate of Real Property Taxes, as and with estimated Operating
Expenses and adjust such payments as provided in Section 16.2.3. 

14.2      Taxes on Tenant Improvements and Personal Property.  
Notwithstanding any other provision hereof, Tenant shall pay the full amount of any increase in Real Property Taxes during the Term resulting from any and all Alterations and Tenant Improvements of any kind whatsoever placed in, on or about the
Premises for the benefit of, at the request of, or by Tenant. Tenant shall pay prior to delinquency all taxes assessed or levied against Tenant’s Personal Property in, on or about the Premises. When possible, Tenant shall cause its Personal
Property to be assessed and billed separately from the real or personal property of Landlord. 

14.3      Proration.   Tenant’s liability to pay Real Property Taxes
shall be prorated on the basis of a 365-day year to account for any fractional portion of a fiscal tax year included at the commencement or expiration of the Term. 

15.        Utilities and Services.   Tenant shall be responsible
for and shall pay promptly all charges for water, gas, electricity, sewer, telephone, refuse pickup, janitorial service and all other utilities, materials and services furnished directly to or used by Tenant in, on or about the

  
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Premises during the Term, together with any taxes thereon. Any utilities that are not separately metered to the Premises shall be charged to Tenant on an equitable basis as reasonably determined
by Landlord. Landlord shall not be liable in damages, consequential or otherwise, nor shall there be any Rent reduction, Rent abatement or right of Tenant to terminate this Lease, as a result of any failure or interruption of any utility service or
other service furnished to the Premises. Landlord shall use diligent efforts to promptly correct any failure or interruption caused by the act or neglect of Landlord or any other tenant of the Building. Notwithstanding the foregoing, if any failure
or interruption of utilities or services is caused by the negligence or willful misconduct of Landlord, its agents, or employees, and such failure continues for more than two (2) consecutive business days, then Tenant shall be entitled to a
proportionate abatement of Rent, commencing with the expiration of such two-day period and continuing until such utilities and/or services are fully restored, based on the extent to which such interruption or failure interferes with Tenant’s
use of the Premises. 
 16.        Repair and Maintenance.

 16.1      Landlord’s Obligations.   Landlord shall at
all times and at its own expense clean, keep and maintain in good safe and sanitary order, condition and repair the structural parts of the Building, which structural parts include only the foundation, subflooring, roof, structure, exterior walls,
exterior plumbing, and exterior electrical connections to the Premises, except for any damage thereto caused by the willful misconduct, negligence acts or omissions of Tenant or of Tenant’s agents, employees or invitees, or by reason of the
failure of Tenant to perform or comply with any terms, conditions or covenants in this Lease, or caused by Alterations made by Tenant or by Tenant’s agents, employees or contractors, which shall be Tenant’s responsibility (except to the
extent such damage is covered by Landlord’s insurance, in which cause Landlord shall repair such damage). Landlord shall also maintain, repair and replace as necessary to keep the same in good working condition and repair, the roof membrane of
the Building, the HVAC system for the Premises, the Common area of the Building, and the Outside Area and Tenant shall reimburse Landlord for the costs thereof, as provided in Paragraph 16.3. At Landlord’s option, Landlord shall have the right
to require Tenant to maintain and repair the HVAC system for the Premises. In such case, Tenant shall cause the HVAC system for the Premises to be maintained in at least as good condition as received at all times and Tenant shall obtain an HVAC
system preventative maintenance contract with monthly service which shall be subject to the reasonable approval of Landlord and paid for by Tenant and which shall provide for and include replacement of filters, oiling and lubricating of machinery,
parts replacement, adjustment of drive belts, oil changes and other preventative maintenance; provided, however, that in such event Tenant shall not be required to pay more than Three Thousand ($3,000) per repair for any repairs made to the HVAC
system serving the Premises, nor more than Fifteen Thousand Dollars ($15,000) per year, in the aggregate, for any repairs to the HVAC system serving the Premises. If Tenant is performing the repair and maintenance of the HVAC system, Tenant shall
have the benefit of all warranties available to Landlord regarding such equipment. It is a condition precedent to all obligations of Landlord to repair and maintain under this Paragraph 16.1 that Tenant shall have notified Landlord in writing of the
need for such repairs or maintenance. 
 16.2      Tenant’s
Obligations.   Tenant shall at all times and at its own expense, clean, keep and maintain in good, safe and sanitary order, condition and repair every part of the interior of the Premises which is not within Landlord’s obligation
pursuant to Paragraph 16.1. 

  
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Tenant’s repair and maintenance obligations shall include, without limitation, all plumbing and sewage facilities within the Premises, fixtures, interior walls, floors, ceilings, interior
windows, doors, entrances, plateglass, all electrical facilities and equipment, including lighting fixtures, lamps, fans and any exhaust equipment and systems, any automatic fire extinguisher equipment within the Premises, electrical motors and all
other appliances and equipment of every kind and nature located in, upon or about the Premises. Tenant shall provide at Tenant’s expense all janitorial service to the Premises and all pest control within the Premises. All glass is at the sole
risk of Tenant, and any broken glass shall promptly be replaced by Tenant at Tenant’s expense with glass of the same kind, size and quality. 
 16.3      Tenant to Pay Operating Expenses.   Tenant shall pay, as Additional Rent, Tenant’s Percentage of all reasonable costs and expenses as may be
paid or incurred by Landlord in maintaining, operating and repairing the Building and the Outside Area (“Operating Expenses”). The Operating Expenses may include, without limitation, the costs of labor, materials, supplies and services
used or consumed in operating, maintaining and repairing the roof membrane, the HVAC system (subject to the limitations set forth below), the Common Area, and the Outside Area, including landscaping and sprinkler systems, concrete walkways and paved
parking area; maintaining and repairing signs and site lighting; all utilities provided to the Building (other than electricity, which shall be separately metered to the Premises) and the Outside Area; any alterations or improvements required by
governmental authority; and the cost of maintaining, repairing and replacing exterior windows and the non-structural components of the roof of the Building, and a reasonable management fee. The cost of any repair, replacement or improvement to the
Building and/or the Outside Area which constitutes a capital expenditure under generally accepted accounting principles shall be fully amortized, on a straight-line basis, over the useful life of the capital item and only the annual amortized cost
of such capital item shall be included in Operating Expenses annually. Notwithstanding the foregoing, Operating Expenses shall not include, and Tenant shall have no obligation to pay, any of the following: (i) depreciation and amortization;
(ii) management fees for the Building in excess of three percent (3%) of the monthly Rent collected; (iii) financing and refinancing costs; (iv) brokerage commissions and marketing costs; (v) costs incurred in connection
with leasing or re-leasing space in the Building, such as space planning, architectural, engineering, attorneys’ fees, advertising costs, cost of tenant improvements and tenant allowances, tenant concessions and promotional expenses;
(vi) costs incurred in connection with the modification of enforcement of leases and disputes with tenants, lenders or contractors; (vii) costs paid for by the proceeds of any insurance, warranty or guaranty benefiting Landlord;
(viii) damages and costs relating to construction or design defects in the Building or the Outside Areas; and (ix) costs incurred in connection with or otherwise associated with any testing, measuring, inspection, responding, clean-up,
removal or remediation of or to Toxic Materials located on or about the Building or the Property. Furthermore, during the initial Term of this Lease only, Tenant shall not be required to pay more than Three Thousand ($3,000) per repair or
replacement for any repairs or replacements made to the HVAC system serving the Premises, nor more than Fifteen Thousand Dollars ($15,000) per year, in the aggregate, for any repairs or replacements to the HVAC system serving the Premises. The
foregoing limitation shall apply only to the costs of any repairs and replacements to the HVAC system and shall not apply to the routine maintenance and servicing of the HVAC system, which shall be included in Operating Expenses, nor shall such
limitation apply to the cost of any repairs or replacements to the HVAC system that are required as result of the gross negligence or willful misconduct of Tenant, its agents, employees or 

  
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contractors, which shall be paid by Tenant upon receipt of an invoice from Landlord for such repairs and/or replacements. 

16.4      Monthly Payments.   From and after the Commencement Date,
Tenant shall pay to Landlord on the first day of each calendar month of the Term Tenant’s Percentage of the amount estimated by Landlord to be the monthly Operating Expenses. Such estimated monthly Operating Expenses may be adjusted by Landlord
at the end of any calendar quarter on the basis of Landlord’s experience and reasonably anticipated costs. Any such adjustment shall be effective as of the calendar month next succeeding receipt by Tenant of written notice of the adjustment.
Within on hundred twenty (120) days following the end of each calendar year Landlord shall furnish Tenant a reasonably detailed and itemized statement (the “Statement”) of actual Operating Expenses (the “Actual Expenses”)
for the calendar year and the payments made by Tenant with respect to such period. If Tenant’s payments for the Operating Expenses do not equal Tenant’s Percentage of the Actual Expenses, Tenant shall pay Landlord the deficiency within
thirty (30) days after receipt of such Statement. If Tenant’s payments exceed Tenant’s Percentage of the Actual Expenses, Landlord shall either offset the excess against the Operating Expenses next thereafter to become due to
Landlord, or shall refund the amount of the overpayments to Tenant, in cash, as Landlord shall elect. There shall be appropriate adjustments of the Operating Expenses as of the Commencement Date and expiration of the Term. Any delay by Landlord in
delivering any Statement of Operating Expenses for a period greater than one (1) year after the applicable calendar year shall release Tenant of its obligation to pay any deficiency to Landlord as set forth herein. 

16.5      Tenant’s Audit Rights.   If Tenant disputes the amount of
the Operating Expenses set forth in the Statement delivered by Landlord to Tenant, Tenant shall have the right, at Tenant’s costs, after reasonable notice to Landlord, to inspect, at Landlord’s office during normal business hours,
Landlord’s books and records directly relating to the Operating Expenses set forth in the Statement provided that Tenant conducts such inspection within six (6) months after Landlord has delivered the Statement. Notwithstanding
Tenant’s timely objection, dispute, inspection and/or audit to or of any Operating Expenses as permitted in this Section 16.5, Tenant shall not be permitted to withhold payment of, and Tenant shall timely pay to Landlord, the full amount
of any Operating Expenses to be paid by Tenant as provided in Section 16.4 in accordance with such Statement. However, such payment may be made under protest pending the outcome of any audit that may be performed by Tenant. If the audit
performed by Tenant reveals that Landlord has over-charged Tenant, then unless Landlord disputes the results of Tenant’s audit, within thirty (30) days after the results of such audit are made available to Landlord , Landlord shall either
credit such amount against the Operating Expenses next due from Tenant or reimburse to Tenant the amount of such over-charge. If Tenant’s audit reveals that Tenant was under-charged, then, within thirty (30) days after the results of such
audit are made available to Landlord, Tenant shall pay to Landlord the amount of such under-charge. Tenant agrees to pay the cost of such audit unless it is subsequently determined that Landlord’s original Statement which was the subject of
such audit was in error to Tenant’s disadvantage by more than five percent (5%), in which case Landlord shall reimburse Tenant for the reasonable cost of such audit. If, however, Landlord disputes the results of Tenant’s audit, then
Landlord shall so notify Tenant within thirty (30) days after the results of Tenant’s audit are made available to Landlord, which notice shall also specify in reasonable detail the reasons that Landlord disputes the results of
Tenant’s audit. If Landlord and Tenant fail to resolve such 

  
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dispute within thirty (30) days after Landlord has notified Tenant that it disputes the results of Tenant’s audit, then the parties agree that the matter shall be resolved by another
audit to be performed by a reputable, independent accounting firm. The results of such audit shall be binding upon the parties and Landlord or Tenant, as applicable, shall pay to the other, within thirty (30) days after the result of such
independent audit are made final, any amount owing to the other as disclosed by the results of such audit. The cost of such independent audit shall be shared equally by the parties. 

16.6      Waiver.   Tenant waives the provisions of Sections 1941 and
1942 of the California Civil Code and any similar or successor law regarding Tenant’s right to make repairs and deduct the expenses of such repairs from the Rent under this Lease. 

16.7      Compliance with Government Regulations.   Tenant shall, at its
cost, comply with, including the making by Tenant of any Alteration to the Premises, all present and future regulations, rules, laws, ordinances, and requirements of all governmental authorities (including state, municipal, County and federal
governments and their departments, bureaus, boards and officials) arising from the use of occupancy of the Premises. Notwithstanding the foregoing, Tenant shall have no obligation to make any improvements or alterations to the Building or the
Premises in order to cause the same to be in compliance with such applicable laws unless such improvements or alterations are required solely as a result of the Tenant Improvements, any Alterations to the Premises, or Tenant’s particular use of
the Premises. 
 17.        Liens.   Tenant shall keep
the Building and the Premises free from any liens arising out of any work performed, materials furnished or obligations incurred by or on behalf of Tenant and hereby indemnifies and holds Landlord and its Agents harmless from all liability and cost,
including attorneys’ fees and costs, in connection with or arising out of any such lien or claim of lien. Tenant shall cause any such lien imposed to be released or record by payment or posting of a proper bond acceptable to Landlord within ten
(10) days after written request by Landlord. Tenant shall give Landlord written notice of Tenant’s intention to perform work on the Premises which might result in any claim of lien at least ten (10) days prior to the commencement of
such work to enable Landlord to post and record a Notice of Nonresponsibility or other notice reasonable deemed proper by Landlord. If Tenant fails to so remove any such lien within the prescribed ten (10) day period, then Landlord may do so
and Tenant shall reimburse Landlord upon demand. Such reimbursement shall include all sums incurred by Landlord including Landlord’s reasonable attorneys’ fees, with interest thereon at the Interest Rate. 

18.        Landlord’s Right to Enter the Premises.   Tenant
shall permit Landlord and its Agent to enter the Premises, including the Building, at all reasonable times with reasonable notice, except for emergencies in which case no notice shall be required, to inspect to same, to post Notices of
Nonresponsibility and similar notices, to show the Premises to interested parties such as prospective lenders and purchasers, to make necessary repairs, to discharge Tenant’s obligations hereunder when Tenant has failed to do so within a
reasonable time after written notice from Landlord, and at any reasonable time within one hundred eighty (180) days prior to the expiration of the Term, to place upon the Building or in the Outside Area ordinary “For Lease” signs and
to show the Premises to prospective tenants. The above rights are subject to 

  
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reasonable security regulations of Tenant, and to the requirement that Landlord shall at all times act in a manner to cause the least possible interference with Tenant’s business.

 19.        Signs.   Tenant shall have the right to
install Tenant identification signage on the exterior of the Building and on the monument sign located in the Outside Area, subject to Landlord’s written approval of the proposed signage, which approval shall not be unreasonably withheld or
delayed, and any required municipal or governmental approvals. All costs associated with the design, installation and governmental approvals for Tenant’s signage shall be paid by Tenant. Tenant shall have no other right to maintain Tenant
identification signs in any other location in, on or about the Premises, the Building or the Outside Area and shall not display or erect any other Tenant identification sign, display or other advertising material that is visible from the exterior of
the Building. The cost of maintaining the signs shall be included in Operating Expense. Tenant shall be solely responsible for the cost of any repairs to Tenant’s signage and shall, at the expiration or sooner termination of this Lease remove
Tenant’s signs from the Property and repair any damage to the Building and/or the monument sign caused by the installation and/or removal of Tenant’s signs. If Tenant fails to remove any such signs upon termination of this Lease and/or
repair any damage to the Building or the monument sign caused by the installation or removal of Tenant’s signs, Landlord may do so at Tenant’s expense and Tenant’s reimbursement to Landlord for such amounts shall be deemed Additional
Rent. 
 20.        Insurance. 

20.1      Tenant’s Indemnification.   Subject to the provisions of
Paragraph 21, Tenant hereby agrees to defend, indemnify and hold harmless Landlord and Landlord’s Agents from and against any and all damage, loss, liability or expense including, without limitation, reasonable attorneys’ fees and legal
costs suffered directly or by reason of any claim, suit or judgment brought by or in favor of any person for damage, loss or expense due to, but not limited to, bodily injury and property damage sustained by such person or persons which arises
out of, is occasioned by or in any way attributable to the use or occupancy of the Premises by Tenant, negligence or willful misconduct of Tenant, Tenant’s agents, or any contractors brought onto the Premises by Tenant, except to the extent
caused by the negligence or willful misconduct of Landlord or Landlord’s Agent. Tenant agrees that the obligations assumed herein shall survive this Lease. 

20.2      Tenant’s Insurance.   Tenant agrees to maintain in full
force and effect at all times during the Term, at its own expense, policies of insurance issued by a responsible carrier or carriers reasonably acceptable to Landlord which afford the following coverages: 

20.2.1      Liability.   Commercial general liability insurance in
an amount not less than Two Million and no/100ths Dollars ($2,000,000.00) combined single limit for both bodily injury and property damage which includes blanket contractual liability broad form property damage, personal injury, completed
operations, products liability, and fire damage legal (in an amount not less than One Hundred Thousand and no/100ths Dollars ($100,000.00)), naming Landlord and its Agents as additional insureds. 

20.2.2      Personal Property.   “All Risk” or causes of
loss – special form property insurance (including, without limitation, vandalism, malicious mischief, and sprinkler 

  
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leakage endorsement) on Tenant’s Personal Property located on or in the Premises. Such insurance shall be in the full amount of the replacement cost, as the same may from time to time
increase as a result of inflation or otherwise, and shall be in a form providing coverage comparable to the coverage provided in the standard ISO All-Risk form. 

20.3      All-Risk Insurance.   During the Term Landlord shall maintain
“All Risk” or causes of loss – special form property insurance, including inflation endorsement, sprinkler leakage endorsement, and flood coverage; also including, at Landlord’s option, earthquake coverage on the Building,
excluding coverage of all Tenant’s Personal Property located on or in the Building, but including the Tenant Improvements. Such insurance shall also include insurance against loss of rents on all “All Risk” basis, including earthquake
and flood, in an amount equal to the Monthly Rent and Additional Rent, and any other sums payable under the Lease, for a period of at least twelve (12) months commencing on the date of loss. Such insurance shall name Landlord and its Agents as
named insureds and include a lender’s loss payable endorsement in favor of Landlord’s lender (Form 438 BFU Endorsement). Tenant shall reimburse Landlord monthly, as Additional Rent, on the first day of each calendar month of the Term, for
Tenant’s Percentage of one-twelfth (1/12th) of the annual cost of such insurance, prorated for any partial month, or on such other periodic basis as Landlord shall elect. If the insurance premiums are increased after the Commencement Date
due to an increase in premium rates, an increase in the valuation of the Building or its replacement cost, Tenant shall pay such increase within twenty (20) days of notice of such increase. Landlord shall have the right to insure the Building
on a policy that includes other buildings. In such case, Tenant shall pay a percentage of such policy cost determined by dividing the square footage of the Building by the square footage of all buildings covered by such policy. 

20.4      Certificates.   Tenant shall deliver to Landlord at least ten
(10) days prior to the time such insurance is first required to be carried by Tenant, and thereafter at least ten (10) days prior to expiration of each such policy, certificates of insurance evidencing the above coverage with limits not
less than those specified above. The certificates shall expressly provide that the interest of Landlord therein shall not be affected by any breach of Tenant of any policy provision for which such certificates evidence coverage. All certificates
shall expressly provide that no less than thirty (30) days’ prior written notice shall be given Landlord in the event of cancellation of the coverages evidenced by such certificates. 

20.5      Insurance Requirements.   All insurance shall be in a form
satisfactory to Landlord and shall be carried with companies that have a general policy holder’s rating of not less than “A-” and a financial rating of not less than Class “VII” in the most current edition of Best’s
Insurance Reports; shall provide that such policies shall not be subject to material alteration or cancellation except after at least thirty (30) days’ prior written notice to Landlord; and shall be primary as to Landlord. The policy or
policies, or duly executed certificates for them, together with satisfactory evidence of payment of the premium thereon shall be deposited with Landlord prior to the Commencement Date, and upon renewal of such policies, not less than ten
(10) days prior to the expiration of the term of such coverage. If Tenant fails to procure and maintain the insurance required hereunder, and such failure continues for a period of five (5) business days after written notice thereof from
Landlord, Landlord may, upon written notice to Tenant, order such insurance at Tenant’s expense and Tenant shall reimburse Landlord. Such 

  
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reimbursement shall include all sums incurred by Landlord, including Landlord’s reasonable attorneys’ fees and costs, with interest thereon at the Interest Rate. 

20.6      Landlord’s Disclaimer.   Landlord and its Agents shall not
be liable for any loss or damage to persons or property resulting from fire, explosion, falling plaster, glass, tile or sheetrock, steam, gas, electricity, water or rain which may leak from any part of the Building, or from the pipes, appliances or
plumbing works therein or from the roof, street or subsurface, or from any other cause whatsoever, unless caused by or due to the negligence or willful acts of Landlord. Landlord and its Agents shall not be liable for interference with the light,
air, or any latent defect in the Premises not known to Landlord. Tenant shall give prompt written notice to Landlord in case of a casualty, accident or repair needed in the Premises. 

21.        Waiver of Subrogation.   Notwithstanding any other
provision of this Lease to the contrary, Landlord and Tenant each hereby waive all rights of recovery against the other on account of loss or damage occasioned to such waiving party for its property or the property of others under its control to the
extent that such loss or damage is insured against under any insurance policies which may be in force at the time of such loss or damage, even if such damage may have been caused by the negligence of the other party, its agents or employees. Tenant
and Landlord shall, upon obtaining policies of insurance required hereunder, give notice to the insurance carrier that the foregoing mutual waiver of subrogation is contained in this Lease and Tenant and Landlord shall cause each insurance policy
obtained by such party to provide that the insurance company waives all right of recovery by way of subrogation against either Landlord or Tenant in connection with any damage covered by such policy. 

22.        Damage or Destruction. 

22.1      Partial Damage Insured.   If the Premises are damaged by any
casualty which is covered under the “All-Risk” or causes of loss – special form insurance carried by Landlord pursuant to Paragraph 20.3, then Landlord shall restore such damage, provided insurance proceeds are available to pay at
least ninety percent (90%) of the cost of restoration and provided such restoration can be completed within one hundred eighty (180) days after the commencement of the work in the reasonable opinion of a registered architect or engineer
appointed by Landlord for such determination, which opinion Landlord shall obtain within sixty (60) days of the date of damage. If insurance proceeds are not available to cover ninety percent (90%) or more of the cost of restoration or the
estimated period for restoration exceeds one hundred eighty (180) days, Landlord may terminate this Lease by written notice to the other party hereto within thirty (30) days after determination of the estimated period for restoration. In
the event Landlord elects or is obligated to restore the Premises, this Lease shall continue in full force and effect, except that Tenant shall be entitled to a proportionate reduction of net Monthly Rent while such restoration takes place, such
proportionate reduction to be based upon the extent to which the restoration efforts interfere with Tenant’s use of the Premises, as reasonably agreed upon between Tenant and Landlord. Any dispute between Landlord and Tenant as to the amount of
such rent reduction shall be resolved by arbitration, and such arbitration shall comply with and be governed by the California Arbitration Act Sections 1280 through 1294.2 of the California Code of Civil Procedure. If it is anticipated by Landlord
that such restoration cannot be completed within one hundred eighty (180) days, Tenant shall have the right to terminate this Lease by written notice to Landlord within thirty (30) days after receipt of written notice of the

  
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estimated repair period. If neither Landlord nor Tenant terminate this Lease as permitted herein, Landlord shall promptly commence the process of obtaining the necessary permits and approvals and
repair the Premises and the Tenant Improvements. If, however, this Lease is terminated by either party, Landlord shall refund to Tenant any Rent previously paid by Tenant which is allocable to the period after the date of damage or destruction.

 22.2      Partial Damage – Uninsured.   If the Premises
are damaged by a risk not covered by Landlord’s insurance, or the proceeds of available insurance are less than ninety percent (90%) of the cost of restoration, or the restoration cannot be completed within one hundred eighty
(180) days after the commencement of work, in the reasonable opinion of the registered architect or engineer appointed by Landlord for such determination, then Landlord shall have the option either to: (i) repair or restore such damage,
this Lease continuing in full force and effect, but the net Monthly Rent to be proportionately abated as provided in Paragraph 22.1; or (ii) give notice to Tenant at any time within thirty (30) days after such damage terminating this Lease
as of a date to be specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after giving such notice. If notice of termination is given, this Lease shall expire and all interest of Tenant in the
Premises shall terminate on such date so specified in such notice and the Monthly Rent, reduced by any proportionate reduction based upon the extent, if any, to which such damage interfered with the use of the Premises by Tenant, shall be paid to
the date of such termination. If it is anticipated by Landlord that such restoration cannot be completed within one hundred eighty (180) days after commencement of work, Tenant shall have the right to terminate this Lease by written notice to
Landlord within thirty (30) days after receipt of written notice of the estimated repair period. Landlord shall provide Tenant with written notice of the estimated repair period as soon as reasonably possible following the damage or
destruction. If neither Landlord nor Tenant terminate this Lease as permitted herein, Landlord shall promptly commence the process of obtaining the necessary permits and approvals and repair the Premises and the Tenant Improvements. If, however,
this Lease is terminated by either party, Landlord shall refund to Tenant any Rent previously paid by Tenant which is allocable to the period after the date of damage or destruction. 

22.3      Total Destruction.   If the Premises are totally destroyed or
the Premises cannot be reasonably restored under applicable laws and regulations or due to the presence of hazardous factors such as earthquake faults, chemical waste and similar dangers, notwithstanding the availability of insurance proceeds, this
Lease shall be terminated effective the date of the damage. 

22.4      Landlord’s Obligations.   Landlord shall not be required
to repair any injury or damage by fire or other cause, or to make any restoration or replacement of any panelings, decorations, partitions, railings, floor coverings, office fixtures which are Alterations or Personal Property installed in the
Premises by Tenant or at the expense of Tenant. Tenant shall be required to restore or replace the same excluding those Tenant Improvements defined in the Work Letter Agreement attached hereto. Except for abatement of Monthly Rent, if any, Tenant
shall have no claim against Landlord for any damage suffered by reason of any such damage, destruction, repair or restoration; nor shall Tenant have the right to terminate this Lease as the result of any statutory provision now or hereafter in
effect pertaining to the damage and destruction of the Premises, except as expressly provided herein. 

  
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 22.5      Damage Near End of
Term.   Anything herein to the contrary notwithstanding, if the Premises are destroyed or significantly damaged during the last twelve (12) months of the Term, then Landlord may cancel and terminate this Lease as of the date of
the occurrence of such damage. If such damage substantially interferes with Tenant’s use of the Premises, then Tenant may cancel and terminate this Lease as of the date of the occurrence of such damage. If neither Landlord nor Tenant elects to
so terminate this Lease, the repair of such damage shall be governed by the other provisions of this Paragraph 22. 
 23.        Condemnation.   If title to all of the Premises or so much thereof is taken or appropriated for any public or quasi-public use under any
statute or by right of eminent domain so that reconstruction of the Premises will not, in Landlord’s and Tenant’s mutual reasonable judgment, result in the Premises being suitable for Tenant’s continued occupancy for the uses and
purposes permitted by this Lease, this Lease shall terminate as of the date that possession of the Premises or Building or part thereof be taken, provided that if the parties disagree, the Lease shall not terminate and the issue as to whether the
remaining Premises are suitable for Tenant’s continued occupancy for the uses permitted by this Lease shall be submitted into arbitration and such arbitration shall comply and be governed by the California Arbitration Act, Sections 1280 through
1294.2 of the California Code of Civil Procedure. A sale by Landlord to any authority having the power of eminent domain, either under threat of condemnation or while condemnation proceedings are pending, shall be deemed a taking under the power of
eminent domain for all purposes of this paragraph. If any part of the Premises is taken and the remaining part is reasonably suitable for Tenant’s continued occupancy for the purposes and uses permitted by this Lease, this Lease shall, as to
the part so taken, terminate as of the date that possession of such part of the Premises is taken. If the Premises is so partially taken the Rent and other sums payable hereunder shall be reduced in the same proportion that Tenant’s use and
occupancy of the Premises is reduced. If the parties disagree as to the suitability of the Premises for Tenant’s continued occupancy or the amount of any applicable Rent reduction, the matter shall be resolved by arbitration. No award for any
partial or entire taking shall be apportioned. Tenant assigns to Landlord its interest in any award which may be made in such taking or condemnation, together with any and all rights of Tenant arising in or to the same or any part thereof. Nothing
contained herein shall be deemed to give Landlord any interest in or require Tenant to assign to Landlord any separate award made to Tenant for the taking of Tenant’s Personal Property, for the interruption of Tenant’s business, or its
moving costs, or for the loss of its good will. No temporary taking of the Premises shall terminate this Lease or give Tenant any right to any abatement of Rent except to the extent of interference with Tenant’s use of the Premises and to the
extent covered by rent abatement insurance; provided, however, that in any event Rent shall not be abated if Tenant is separately and directly compensated for such interference by the condemning authority. Any award made to Tenant by reason of such
temporary taking shall belong entirely to Tenant and Landlord shall not be entitled to share therein. Each party agrees to execute and deliver to the other all instruments that may be required to effectuate the provisions of this paragraph.

 24.        Assignment and Subletting. 

24.1      Landlord’s Consent.   Tenant shall not enter into a Sublet
without Landlord’s prior written consent, which consent shall not be unreasonably withheld. Any attempted or purported Sublet without Landlord’s prior written consent shall be void and confer

  
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no rights upon any third person and shall be deemed a material default of this Lease. Each Subtenant shall agree in writing, for the benefit of Landlord, to assume, to be bound by, and to perform
the terms, conditions and covenants of this Lease to be performed by Tenant. Notwithstanding anything contained herein, Tenant shall not be released from personal liability for the performance of each term, condition and covenant of this Lease by
reason of Landlord’s consent to a Sublet unless Landlord specifically grants such release in writing. 

24.2      Information to Be Furnished.   If Tenant desires at any time to
Sublet the Premises or any portion thereof, it shall first notify Landlord of its desire to do so and shall submit in writing to Landlord: (i) the name of the proposed Subtenant; (ii) the nature of the proposed Subtenant’s business to
be carried on in the Premises; (iii) the terms and provisions of the proposed Sublet and a copy of the proposed Sublet form containing a description of the subject premises; and (iv) such financial information, including financial
statements, as Landlord may reasonably request concerning the proposed Subtenant. 

24.3      Landlord’s Alternatives.   At any time within fifteen
(15) days after Landlord’s receipt of the information specified in Paragraph 24.2, Landlord may, by written notice to Tenant, elect: (i) to consent to the Sublet by Tenant; or (ii) to reasonably refuse its consent to the Sublet,
in which case such notice shall be set forth in reasonable detail the reasons for such disapproval. If Landlord consents to the Sublet, Tenant may thereafter enter into a valid Sublet of the Premises or portion thereof, upon the terms and conditions
and with the proposed Subtenant set forth in the information furnished by Tenant to Landlord pursuant to Paragraph 24.2. 
 24.4      Executed Counterpart.   No Sublet shall be valid nor shall any Subtenant take possession of the Premises until an executed counterpart of the
Sublet agreement has been delivered to Landlord. 
 24.5      Exempt
Sublets.   Notwithstanding the above, Tenant may Sublet without Landlord’s consent to any subsidiary or affiliate in which Tenant has an ownership interest, to any parent of Tenant, to any subsidiary or affiliate in which
Tenant’s parent owns an interest, or to any entity in which Tenant may be merged or consolidated or which acquires all or substantially all of Tenant’s assets or stock; provided, however, that (a) in the event of an assignment of this
Lease the assignee executes, acknowledges and delivers to Landlord an agreement whereby the assignee assumes and agrees to be bound by all of the covenants and agreements in this Lease which Tenant has agreed to keep, observe or perform, and
(b) in connection with an assignment of this Lease made in connection with a sale of Tenant’s stock or assets, the assignee shall have a net worth (determined in accordance with generally accepted accounting principles consistently
applied) immediately after such assignment which is at least equal to the net worth (as so determined) of Tenant at the commencement of this Lease. In addition, the sale of stock in Tenant pursuant to a public offering or on a stock exchange shall
not constitute a Sublet. 
 24.6      Sublet Profits.   If the
Rent received by Tenant from any Sublet (less Tenant’s actual out-of-pocket expenditures for reasonable attorneys’ fees, leasing commissions, advertising, and tenant improvements to the Premises made to induce the Sublet) exceeds the

  
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Rent payable by Tenant under this Lease, Tenant shall pay one-half ( 1/2) of such excess to Landlord monthly as Additional Rent. 
 25.        Default. 
 25.1      Tenant’s Default.  A default under this Lease by Tenant shall exist if any of the following events shall occur (each an “Event of
Default”): 
 25.1.1 If Tenant fails to pay Rent or any other sum required to be paid hereunder
when due, which failure continues uncured for a period of three (3) days after written notice thereof; or 

25.1.2 If Tenant shall have failed to perform any term, covenant or condition of this Lease except those
requiring the payment of money, and Tenant shall have failed to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such thirty (30) day period; provided, however,
that where such failure could not reasonably be cured, within the thirty (30) day period, that Tenant shall not be in default if it commences such performance within the thirty (30) day period and diligently thereafter prosecutes the same
to completion; or 
 25.1.3 If Tenant assigns its assets for the benefit of its creditors; or

 25.1.4 If a court shall make or enter any decree or order other than under the bankruptcy laws of the
United States adjudging Tenant to be insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty
(60) days. 
 25.2      Remedies.  Upon an Event of
Default, Landlord shall have the following remedies, in addition to all other rights and remedies provided by law or otherwise provided in this Lease, to which Landlord may resort cumulatively or in the alternative: 

25.2.1 Landlord may continue this Lease in full force and effect, and this Lease shall continue in full force and
effect as long as Landlord does not terminate this Lease, and Landlord shall have the right to collect Rent when due. 
 25.2.2 Landlord may terminate Tenant’s right to possession of the Premises at any time by giving written notice to that effect, and relet the Premises or any part thereof. Tenant shall be
liable immediately to Landlord for all costs reasonably allocable to the remaining Term Landlord incurs in reletting the Premises or any part thereof, including, without limitation, broker’s commissions, expenses of cleaning the Premises
required by the reletting and like costs. Reletting may be for a period shorter or longer than the remaining Term of this Lease. No act by Landlord other than giving written notice to Tenant shall terminate this Lease. Acts of maintenance, efforts
to relet the Premises or the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under this Lease shall not constitute a termination of Tenant’s right to possession. On termination, Landlord has the right
to remove all Tenant’s Personal Property and store same at Tenant’s cost and to recover from Tenant as damages: 

  
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 (a)        The worth at the
time of award of unpaid Rent and other sums due and payable which had been earned at the time of termination; plus 
 (b)        The worth at the time of award of the amount by which the unpaid Rent and other sums due and payable which would have been payable after
termination until the time of award exceeds the amount of such Rent 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 and other sums due and payable for the balance of the Term after the time of
award exceeds the amount of such Rent loss that Tenant proves could be reasonably avoided; plus 

(d)        Any other amount necessary which is to compensate Landlord for
all the detriment proximately caused by Tenant’s failure to perform Tenant’s obligations under this Lease, or which, in the ordinary course of things, would be likely to result therefrom; plus 

(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 the laws of the State of California. 

The “worth at the time of award” of the amounts referred to in Paragraphs 25.2.2(a) and 25.2.2(b) is computed
by allowing interest at the Interest Rate on the unpaid rent and other sums due and payable from the termination date through the date of award. The “worth at the time of award” of the amount referred to in Paragraph 25.2.2(c) is computed
by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). 
 25.2.3 Landlord may, with or without terminating this Lease, re-enter the Premises and remove all persons and property from the Premises; such property may be removed and stored in a public
warehouse or elsewhere at the cost of and for the account of Tenant. No re-entry or taking possession of the Premises by Landlord pursuant to this paragraph shall be construed as an election to terminate this Lease unless a written notice of such
intention is given to Tenant. 
 25.3      Landlord’s
Default.  Landlord shall not be deemed to be in default in the performance of any obligation required to be performed by it hereunder unless and until it has failed to perform such obligation within thirty (30) days after receipt
of written notice by Tenant to Landlord specifying the nature of such default; provided, however, that if the nature of Landlord’s obligation is such that more than thirty (30) days are required for its performance, then Landlord shall not
be deemed to be in default if it shall commence such performance within such thirty (30) day period and thereafter diligently prosecute the same to completion. 

26.      Subordination.  This Lease is subject and subordinate to ground
and underlying leases, mortgages and deeds of trust (collectively “Encumbrances”) which may now affect the Premises, and to all renewals, modifications, consolidations, replacements and extensions thereof; provided, however, if the holder
or holders of any such Encumbrance (“Holder”) shall require that this Lease to be prior and superior thereto, within ten (10) business days of written 

  
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request of Landlord to Tenant, Tenant shall execute, have acknowledged and deliver any and all reasonable documents or instruments which Landlord or Holder deems necessary or desirable for such
purposes. Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all Encumbrances which may hereafter be executed covering the Premises, or any renewals, modifications, consolidations,
replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof;
provided only, that in the event of termination of any such lease or upon the foreclosure of any such mortgage or deed of trust, so long as Tenant is not in default, Holder agrees to recognize Tenant’s rights under this Lease as long as Tenant
shall pay the Rent and observe and perform all the provisions of this Lease to be observed and performed by Tenant. Within ten (10) business days after Landlord’s written request, Tenant shall execute any and all commercially reasonable
documents required by Landlord or the Holder to make this Lease subordinate to any lien of the Encumbrance. If Tenant fails to do so, it shall be deemed that this Lease is so subordinated. Notwithstanding anything to the contrary set forth in this
paragraph, Tenant hereby attorns and agrees to attorn to any entity purchasing or otherwise acquiring the Premises at any sale or other proceeding or pursuant to the exercise of any other rights, powers or remedies under such Encumbrance.
Notwithstanding anything to the contrary set forth in this Paragraph 26, Landlord shall provide to Tenant from all lenders currently holding a deed of trust, mortgage or other financing instrument on the Building or the underlying real property or
on any lease thereof, and from all landlords under any ground or underlying lease currently in effect, a commercially reasonable non-disturbance agreement within thirty (30) days after the date of execution of this Lease, and the failure to do
so, shall give Tenant the right to terminate this Lease upon written notice to Landlord. 

27.        Notices.  Any notice or demand required or desired to
be given under this Lease shall be in writing and shall be personally served or in lieu of personal service may be given by mail or by Federal Express or other reputable overnight courier service. If given by mail, such notice shall be deemed to
have been given when seventy-two (72) hours have elapsed from the time when such notice was deposited in the United States mail, registered or certified, and postage prepaid, addressed to the party to be served. If given by overnight courier
service, such notice shall be deemed to be effective upon the next business day after deposit with the courier service. At the date of execution of this Lease, the addresses of Landlord and Tenant are as set forth in the first paragraph of this
Lease. After the Commencement Date, the address of Tenant shall be the address of the Premises. Either party may change its address by giving notice of same in accordance with this paragraph. 

28.        Attorneys’ Fees.  If either party brings any
action, legal proceeding or arbitration proceeding for damages for an alleged breach of any provision of this Lease, to recover rent, or other sums due, to terminate the tenancy of the Premises or to enforce, protect or establish any term, condition
or covenant of this Lease or right of either party, the prevailing party shall be entitled to recover as a part of such action or proceedings, or in a separate action brought for that purpose, reasonable attorneys’ fees and costs. 

29.        Tenant Statements.  Tenant shall within ten
(10) business days following written request by Landlord: 

  
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 29.1      Estoppel
Certificates.  Execute and deliver to Landlord any documents, including estoppels certificates, in the form prepared by Landlord (a) 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 date to which the Rent and other charges are paid in advance, if any, and (b) acknowledging that there are not, to Tenant’s
knowledge, any uncured defaults on the part of Landlord, or, if there are uncured defaults on the part of the Landlord, stating the nature of such uncured defaults, and (c) evidencing the status of the Lease as may reasonably be required either
by a lender making a loan to Landlord to be secured by deed of trust or mortgage covering the Premises or a purchaser of the Premises from Landlord. Tenant’s failure to deliver an estoppel certificate within ten (10) business days after
delivery of Landlord’s written request therefor shall be conclusive upon Tenant (a) that this Lease is in full force and effect, without modification except as may be represented by Landlord, (b) that there are now no uncured defaults
in Landlord’s performance and (c) that no Rent has been paid in advance. If Tenant fails to so deliver a requested estoppel certificate within the prescribed time it shall be deemed that there exist no defaults under this Lease on the part
of Landlord, that the rent is current and that Tenant has no claims against Landlord. 

29.2      Financial Statements.  If required by Landlord’s lender or
if requested by Landlord in connection with a proposed sale of the Property or a proposed assignment of this Lease by Tenant, and subject to Landlord’s execution of a commercially reasonable confidentiality agreement, deliver to Landlord the
current financial statements of Tenant, and financial statements of the two (2) years prior to the current financial statements year, including a balance sheet and profit and loss statement for the most recent prior year, all prepared by a
certified public accountant. 
 30.        Transfer of the Premises
by Landlord.  In the event of any conveyance of the Premises and assignment by Landlord of this Lease, Landlord shall be and is hereby entirely released from all liability under any and all of its covenants and obligations contained in
or derived from this Lease accruing after the date of such conveyance and assignment, provided such transferee assumes Landlord’s obligations under this Lease, and Tenant agrees to attorn to such transferee. 

31.        Landlord’s Right to Perform Tenant’s
Covenants.  If Tenant fails to make any payment or perform any other act on its part to be made or performed under this Lease, provided that Landlord has delivered to Tenant written notice and Tenant has failed to commence and
diligently pursue such performance within ten (10) days of its receipt of such notice, Landlord may, but shall not be obligated to and without waiving or releasing Tenant from any obligation of Tenant under this Lease, make such payment or
perform such other act to the extent Landlord may reasonably deem desirable, and in connection therewith, pay expenses and employ counsel. All sums so paid by Landlord and all penalties, interest and costs in connection therewith shall be due and
payable by Tenant upon receipt of written demand by Landlord, together with interest thereon at the Interest Rate from the date Tenant receives Landlord’s written demand to the date of payment by Tenant to Landlord, plus collection costs and
attorneys’ fees. Landlord shall have the same rights and remedies for the nonpayment thereof as in the case of default in the payment of Rent. 

  
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 32.        Tenant’s
Remedy.  If, as a consequence of a default by Landlord under this Lease, Tenant recovers a money judgment against Landlord, such judgment shall be satisfied only out of the proceeds of sale received upon execution of such judgment and
levied thereon against the right, title and interest of Landlord in the Property and out of Rent or other income from the Property received by Landlord or out of consideration received by Landlord from the sale or other disposition of all or any
part of Landlord’s right, title or interest in the Premises, and neither Landlord nor its Agents shall be liable for any deficiency. 
 33.        Mortgagee Protection.  If Landlord defaults under this Lease, Tenant will notify by registered or certified mail to any beneficiary of a
deed of trust or mortgagee of a mortgage covering the Premises, of whom Tenant has been notified in writing, and offer such beneficiary or mortgagee a reasonable opportunity to cure the default, including time to obtain possession of the Premises by
power of sale or a judicial foreclosure, if such should prove necessary to effect a cure. 

34.        Brokers.  Tenant and Landlord warrant and represent
that, except for those brokers listed in Paragraph 1.9 above, they have had no dealings with any real estate broker or agent in connection with the negotiation of this Lease, and that they know of no other real estate broker or agent who is or might
be entitled to a commission in connection with this Lease. Tenant and Landlord each agree to defend, indemnify and hold the other party and its Agents from and against any and all liabilities or expenses, including attorneys’ fees and costs,
arising out of or in connection with claims made by any other broker or individual for commissions or fees on the basis of the acts or omissions of the indemnifying party. 

35.        Acceptance.  Delivery of this Lease, duly executed by
Tenant, constitutes an offer to lease the Premises, and under no circumstances shall such delivery be deemed to create an option or reservation to lease the Premises for the benefit of Tenant. This Lease shall only become effective and binding upon
full execution hereof by Landlord and delivery of a signed copy to Tenant. 

36.        Recording.  Neither party shall record this Lease.

 37.        Quitclaim.  Upon thirty (30) days
prior to the expiration of the Term, or, if this Lease is terminated prior to the expiration of the Term, within five (5) business days of Landlord’s written request, Tenant shall execute, have acknowledged and deliver to Landlord a
quitclaim deed of the Premises, which quitclaim deed may, at Landlord’s election, be recorded upon termination of the Lease or anytime thereafter. 
 38.        Modification for Lender.  If, in connection with obtaining financing for the Building or any portion thereof, Landlord’s lender
shall request reasonable modification to this Lease as a condition to such financing, Tenant shall not unreasonably withhold, delay or defer its consent thereto, provided such modifications do not adversely affect Tenant’s rights hereunder and
are reasonably and customarily required by lenders in similar transactions. 

39.        Parking.  Tenant and Tenant’s Agents and
invitees shall have the right to use Tenant’s Percentage Share of all parking spaces located at the Property’s parking facilities in common with other tenants of the Property upon terms and conditions as may from time to time

  
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be reasonably established by Landlord. Landlord shall not allow other tenants of the Property to use more than their respective Percentage Shares of the parking spaces located at the parking
facilities. Upon Tenant’s request, Landlord shall take reasonable steps to prevent other tenants from using more than their Percentage Share of such parking. 

40.        Option to Extend. 

40.1      Provided there is not an uncured Event of Default, either at the time of
exercise or at the time the extended Term commences, Tenant shall have the option to extend the Term of this Lease for one (1) additional period of two (2) years (“Option Period”) on the same terms, covenants and conditions
provided herein, except that upon such renewal the Monthly Rent due hereunder shall be the greater of (1) ninety-five percent (95%) of the then fair market rental value of the Premises, and (2) $1.90 per square foot per month. Tenant
shall exercise its option by giving Landlord written notice (“Option Notice”) at least one hundred eighty (180) days, but not more than two hundred seventy (270) days, prior to the expiration of the initial Term of this Lease.
This option to extend is personal to Tenant and may not be transferred or assigned to any third party. 

40.2      The then fair market rental value of the Premises for the Option Period shall be
determined as follows: 
 40.2.1 The parties shall have thirty (30) days after landlord receives
the Option Notice within which to agree on the then fair market rental value of the Premises as defined in Paragraph 40.2.2. If the parties agree on the then fair market rental value of the Premises for the Option Period within thirty
(30) days, they shall immediately execute an amendment to this Lease stating the Monthly Rent for the Option Period. If the parties are unable to agree on the then fair market rental value of the Premises for the Option Period within thirty
(30) days, then, the then fair market rental value of the Premises shall be determined as provided in Paragraph 40.2.3. 
 40.2.2 The “then fair market rental value of the Premises” shall be defined to mean the fair market rental value of the Premises as of the commencement of the Option Period, taking into
consideration all relevant factors, including the uses permitted under this Lease, the quality, size, design and location of the Premises, and the rent for comparable office/R&D space located in San Jose, California. 

40.2.3 Within seven (7) days after the expiration of the thirty (30)-day period set forth in paragraph
40.2.1, each party, at its cost and by giving notice to the other party, shall appoint a real estate appraiser with at least five (5) years’ full-time commercial appraisal experience in the area in which the Premises are located to
appraise and set the then fair market rental value of the Premises. If a party does not appoint an appraiser within ten (10) days after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the
sole appraiser and shall set the then fair market rental value of the Premises. If the two appraisers are appointed by the parties as stated in this paragraph, they shall meet promptly and attempt to set the then fair market rental value of the
Premises. If they are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to elect a third appraiser meeting the qualifications stated in this paragraph within ten (10) days after the
last 

  
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day the two appraisers are given to set the then fair market rental value of the Premises. If they are unable to agree on the third appraiser, either of the parties to this Lease, by giving ten
(10) days’ notice to the other party, can apply to the then Presiding Judge of the Santa Clara County Superior Court, for the selection of the third appraiser who meets the qualifications stated in this paragraph. Each of the parties shall
bear one-half (1/2) of the cost of appointing the third appraiser and of paying the third appraiser’s fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity for either party. 

Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the then
fair market rental value of the Premises. If a majority of the appraisers are unable to set the then fair market rental value of the Premises within the stipulated period of time, the three appraisals shall be added together and their total divided
by three; the resulting quotient shall be the then fair market rental value of the Premises. If, however, the low appraisal and/or the high appraisal are/is more than ten percent (10%) lower and/or higher than the middle appraisal, the low
appraisal and/or the high appraisal shall be disregarded. If only one appraisal is disregarded, the remaining two appraisals shall be added together and their total divided by two; the resulting quotient shall be the then fair market rental value of
the Premises. If both the low appraisal and the high appraisal are disregarded as stated in this paragraph, then only the middle appraisal shall be used as the result of the appraisal. After the fair market rental value of the Premises has been set,
the appraisers shall immediately notify the parties and the parties shall amend this Lease to set forth the Monthly Rent for the Option Period. 
 41.        Right of First Refusal to Lease Additional Space.  Provided that there is not an uncured Event of Default at the time of exercise,
Tenant shall have the right of first refusal to lease any space in the Building that is adjacent to the Premises (the “Additional Space”) on the following terms and conditions. If at any time during the Term of this Lease, including any
extension or renewal thereof, Landlord receives a bona fide offer to lease all or any portion of the Additional Space on terms and conditions acceptable to Landlord, as evidenced by a letter of intent or other written offer, Landlord shall notify
Tenant in writing of the location and approximate rentable area of the space that is covered by such third-party offer (the “Available Space”) and the terms of such third-party offer (“Landlord’s Notice”). Tenant shall have
five (5) business days after receipt of Landlord’s Notice to notify Landlord in writing of Tenant’s election to lease the Available Space on the terms stated in Landlord’s Notice, which shall include an allowance equal to the
greater of the allowance specified in Landlord’s Notice, or $30,000, for tenant improvements to the Available Space (but only for the first of any Available Space leased by Tenant if less than the entire Additional Space is covered by
Landlord’s Notice). If Tenant notifies Landlord in writing within such five-day period of Tenant’s election to lease the Available Space on the terms stated in Landlord’s Notice, Landlord and Tenant shall execute an amendment to this
Lease adding the Available Space to the Premises and modifying the Monthly Rent and any other terms affected by the addition of the Available Space. If, however, Tenant fails to notify Landlord of Tenant’s election to lease the Available Space
within such five-day period or, if Landlord and Tenant, through no fault of Landlord, fail to execute an amendment to this Lease within thirty (30) days after the date of Tenant’s notice to Landlord, Tenant shall be deemed to have waived
its right to lease the Available Space at such time and Landlord shall have the right to lease the Available Space to the third party on substantially the same terms stated in Landlord’s Notice without further notice to Tenant. This right of
first 

  
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refusal to lease the Additional Space is personal to Tenant and may not be transferred or assigned to any third party. 

42.        Landlord’s
Contingency.      Landlord and Tenant acknowledge that the effectiveness of this Lease is contingent upon Landlord entering into an agreement with Integrated Circuit Systems, Inc. for the early termination of the
ICS Lease, on terms and conditions satisfactory to Landlord in its sole discretion (the “Termination Agreement”). Landlord shall use commercially reasonable efforts to obtain such Termination Agreement as soon as reasonably possible and
shall notify Tenant in writing as soon as the Termination Agreement has been executed by Landlord and Integrated Circuit Systems, Inc. If the Landlord does not provide Tenant with reasonable evidence that this contingency has been met on or before
October 14, 2007, Tenant may terminate this Lease upon written notice to Landlord whereupon Landlord shall return to Tenant the Security Deposit and all prepaid rents. 

43.        Roof Rights. 

Subject to the terms and conditions set forth in this Section 42, and Tenant’s receipt of all necessary
governmental approvals, Tenant shall have the non-exclusive right to install and operate a satellite dish on the roof of the Building, and related cabling within the Building risers (collectively, “Tenant’s Equipment”), at no charge
to Tenant for the use of the roof and the risers, for the purpose of transmitting and/or receiving microwave or radio signals, in a manner consistent with Tenant’s business. Tenant shall, however, be responsible for all costs associated with
the installation, maintenance and repair of Tenant’s Equipment as well as any utility costs associated with the operation of Tenant’s Equipment. The number, size, location and method of installing or affixing Tenant’s Equipment on the
roof shall subject to the prior approval of Landlord, which approval shall not be unreasonably withheld, delayed or conditioned so long as Tenant’s Equipment can be installed and operated on the roof of the Building without damaging the
Building structure and without interfering with the transmissions of any other equipment installed on the roof of the Building, whether the same is operated by Landlord, a licensee of Landlord, or another tenant of the Building. Installation shall
be designed and supervised by a duly registered and qualified professional engineer or architect approved by the Landlord. The installation shall be actually fastened (bolted, welded or otherwise positively anchored, not ballasted) to the
structure and properly flashed to the roof membrane with all necessary work to preserve the roof integrity and any warranties. Any future installations or changes in Tenant’s Equipment shall be subject to all the conditions and restrictions for
original installation of Tenant’s Equipment as set forth herein, and shall be subject to Landlord’s prior approval. For any transmitting device, the Tenant shall submit data to the Landlord detailing necessary safety precautions that will
be used on the installation, including BMF output, in keeping with accepted operating and safety standards. Tenant shall not be permitted to assign or sublet the Tenant’s Equipment installation and operation rights to any other party; provided,
however, that the rights granted to Tenant herein may be transferred to a Subtenant in connection with an exempt Sublet under Paragraph 24.5 above. The right to operate Tenant’s Equipment shall expire upon the expiration or sooner termination
of this Lease, at which time Tenant shall remove all of Tenant’s Equipment, including all cabling, from the Building and repair any damage to the Building caused by the installation, operation or removal of Tenant’s Equipment. Landlord
reserves the right to install any other equipment or allow other tenants or licensees to install, maintain and operate other equipment on the roof and in the 

  
 - 26 -

 
Building provided that the same do not interfere with the operation of Tenant’s Equipment. Landlord shall have the right to do maintenance, repairs and remodeling to the Building and roof
space at any time without Tenant’s prior approval. 
 Tenant may only access the roof of the Building
through the Common Area and Tenant agrees that it will not pass through other tenants’ spaces, nor will it interfere with any other tenants’ businesses. Additionally, Tenant agrees to give the Landlord reasonable notice prior to accessing
the roof, any cabling or communication closets. Tenant also agrees only to access same during normal business hours and upon Landlord’s consent, not to be unreasonably withheld. 

In the event that Tenant desires to run any cable through the building in connection with the installment and
maintenance of Tenant’s Equipment, Tenant agrees to submit working drawings to the Landlord specifying the following: (i) the locations throughout the Building where the cable will be located; (ii) the manner in which the cabling will
be run through the Building; (iii) the communications closets, if any, which will be utilized in installing and maintaining such cabling; (iv) the amount of cable which will be required to be utilized; and (v) the type of cable which
will be utilized. Such working drawings are subject to Landlord’s approval and Tenant shall not install any cabling or perform any work until such working drawings have been approved by the Landlord. Additionally, Tenant agrees that all cable
shall be shielded cable, the cable coating shall comply with all applicable fire codes, and the cable will be properly labeled so that it can be identified by the Landlord, Landlord’s agents or third parties. Tenant further agrees to provide
Landlord reasonable notice prior to installing any cable, and such notice shall set forth the times at which Tenant expects to be installing or working on such cables. Tenant agrees that it will not pass through other tenants’ spaces, nor
interfere with any other tenants’ businesses when installing or maintaining such cables. 

44.        General. 

44.1      Captions.   The captions and headings used in this Lease are
for the purpose of convenience only and shall not be construed to limit or extend the meaning of any part of this Lease. 
 44.2      Executed Copy.   Any fully executed copy of this Lease shall be deemed an original for all purposes. 

44.3      Time.   Time is of the essence for the performance of each
term, condition and covenant of this Lease. 

44.4      Separability.   If one of more of the provisions contained
herein, except for the payment of Rent, is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Lease, but this Lease shall be
construed as if such invalid, illegal or unenforceable provision had not been contained herein. 

44.5      Choice of Law.   This Lease shall be construed and enforced in
accordance with the laws of the State of California. The language in all parts of this Lease shall in all cases 

  
 - 27 -

 
be construed as a whole according to its fair meaning and not strictly for or against either Landlord or Tenant. 

44.6      Gender, Singular, Plural.   When the context of this Lease
requires, the neutral gender includes the masculine, the feminine, a partnership or corporation or joint venture, and the singular includes the plural. 
 44.7      Binding Effect.   The covenants and agreement contained in this Lease shall be binding on the parties hereto and on their respective successors and
assigns to the extent this Lease is assignable. 

44.8      Waiver.   The waiver by Landlord or Tenant of any breach of any
term, condition or covenant, of this Lease shall not be deemed to be a waiver of such provision or any subsequent breach of the same or any other term, condition or covenant of this Lease. The subsequent acceptance of Rent hereunder by Landlord or
payment of Rent hereunder by Tenant shall not be deemed to be a waiver of any preceding breach at the time of acceptance or making of such payment. No covenant, term or condition of this Lease shall be deemed to have been waived by Landlord or
Tenant unless such waiver is in writing signed by Landlord or Tenant as applicable. 

44.9      Entire Agreement.   This Lease is the entire agreement between
the parties, and there are o agreements or representations between the parties except as expressed herein. Except as otherwise provided herein, no subsequent change or addition to this Lease shall be binding unless in writing and signed by the
parties hereto. 
 44.10      Authority.   If Tenant is a
corporation or a partnership, each individual executing this Lease on behalf of said corporation or partnership, as the case may be, represents and warrants that he is duly authorized to execute and deliver this Lease on behalf of said entity in
accordance with its corporate bylaws, statement of partnership or certificate of limited partnership, as the case may be, and that this Lease is binding upon said entity in accordance with its terms. Landlord, at its option, may require a copy of
such written authorization to enter into this Lease. The failure of Tenant to deliver the same to Landlord within seven (7) days of Landlord’s request therefor shall be deemed a default under this Lease. 

  
 - 28 -

 44.11 Exhibits. All exhibits, amendments, riders and addenda
attached hereto are hereby incorporated herein and made a part hereof. 
 THIS LEASE is effective as of the date
the last signatory necessary to execute the Lease shall have executed this Lease. 
  

											
		  		  	 TENANT

			
	
Dated:                  9-26-07         
   
	  		  	 VOCERA COMMUNICATIONS, INC.

		  		  	 a Delaware corporation

				
		  		  	 By:
	  	 /s/ Martin J. Silver

		  		  	 Its:
	  	 CFO

			
		  		  	 LANDLORD

			
	 Dated:                 
9-26-07            
	  		  	 525 RACE STREET, LLC,

		  		  	 a California limited liability company,

				
		  		  	 By:
	  	 TBI-Race Street, LLC, a California

		  		  		  	 limited liability company

		  		  		  	 Manager

					
		  		  		  	 By:
	  	 Toeniskoetter & Breeding, Inc.

		  		  		  		  	 Development, Manager

						
		  		  		  		  	 By:
	  	 /s/ Brad W. Krouskup

		  		  		  		  		  	 Brad W. Krouskup, President

  
 - 29 -

 EXHIBIT A 

THE PREMISES 
 [Graphic – Floor Plan] 

 LEGAL DESCRIPTION 
 REAL PROPERTY in the Unincorporated Area and the City of San Jose, County of Santa Clara, State of California, described as follows: 
 PARCEL ONE: 
 Beginning at a point in the Westerly line of Race Street, at the Southeasterly corner of
that certain tract of land described in the Deed from Marie Kottinger et vir, to A. Del Grande, dated January 31, 1920, recorded February 4, 1920 in Block 507 of Deeds, Page 121, Santa Clara County Records, thence from said point of
beginning North 2° 43’ West along the said Westerly line of Race Street for a distance of 390.94 feet to the point of intersection thereof with the Southerly line of that certain tract of land described in the Deed from A. Del Grande et ux,
to Charles Earl Watts, et ux, dated March 31, 1947, recorded April 14, 1947, in Book 1463 of Official Records, Page 589, Santa Clara County Records; thence South 86° 41’ West along said Southerly line of land so described in the
Deed to said Watts for a distance of 336.14 feet to an iron pipe set in the Westerly line of land described in the Deed to said Del Grande above referred to; thence South 0° 01’ 30” West along said Westerly line of land so described in
the Deed to said Del Grande for a distance of 395.33 feet to the Southwesterly corner thereof; thence North 86° 04’ 50” East along the Southerly line of land so described in the Deed to said Del Grande for a distance of 355.11 feet to
the point of beginning. 
 Excepting therefrom that portion contained in the Deed from Susan Del Grande, et ux to the County of Santa
Clara, recorded July 30, 1976 (sic) in Book 5671, Page 193 and more particularly described as follows: 
 A parcel twenty
(20) feet in width lying adjacent to and next adjoining and immediately West of that certain Easterly line of the property of Angelo Del Grande as said Easterly line is more particularly shown on a Record of Survey which map was filed for
record in the Office of the Recorder of Santa Clara County, California, on September 10, 1957, in Book 86 of Maps, at Page 9 and which line runs on a course North 2° 43’ West for a distance of 390.94 feet, more or less.

 PARCEL TWO: 
 A portion of Lot 88 of the Los Coches
Rancho, described as follows: 
 Beginning on the Westerly line of Race Street, distant S. 2° 43’ E. along said Westerly line and
along the original Westerly line of Race Street, 491.95 feet from the intersection thereof with the Original Southerly line of Auzerais Avenue, said point of beginning also being distant S. 2° 43’ E. along the Westerly line of Race Street,
75 feet from the Northeasterly corner of the 4 acre parcel of land conveyed to A. Del Grande by Deed recorded February 4, 1920 in Book 507 of Deeds, Page 121, and also the Southeasterly corner of the parcel of land conveyed to Anthony Amori, et
ux, by Deed recorded July 31, 1946 in Book 1376 Official Records, Page 84; thence from said point of beginning S. 2° 43’ E. along the Westerly line of Race Street, 55 feet; thence S. 86° 41’ W. parallel with the Northerly line
of said 4 acre parcel of land, 336 feet, more or less, to the Westerly line of said 4 acre parcel; thence North along said West line, 55 feet to the Southwest corner of said Amori parcel; thence N. 86° 41’ E. along the Southerly line of
said Amori Parcel, 333.66 feet to the point of beginning. 
 PARCEL THREE: 
 Being a portion of Lot 88, Los Coches Rancho and more particularly described as follows: 
 Beginning at
a point on the Westerly line of Race Street, said point being the Northeast corner of that certain tract of land conveyed to Del Grande, by Deed recorded February 4, 1920 in Book 507 of Deeds, page 121, Santa Clara County California Records;
running thence from said point of beginning along the said Westerly line of Race Street and the Easterly line of the above mentioned tract of land S. 2° 43’ E. 75.00 feet; thence leaving said line and running S. 86° 41’ W. 333.66
feet to a point on the Westerly line of said tract of land; thence along said Westerly line N. 75.13 feet of the Northwest corner of said tract of land; thence along the Northerly line of said tract of land N. 86° 41’ E. 329.91 feet to the
point of beginning. 
 APN: 264-08-022, 045, 068 
 ARB:
264-08-022, 023,
045                                        
EXHIBIT B 

                        
                                         THE PROPERTY 

 EXHIBIT C 

COMMENCEMENT DATE MEMORANDUM 
  

					
			
	LANDLORD:	  		  	525 Race Street, LLC
			
	TENANT:	  		  	Vocera Communications, Inc.
			
	LEASE DATE:	  		  	September 26, 2007
			
	PREMISES:	  		  	525 Race Street, San Jose, California

 Pursuant to paragraph 3.3 of the above referenced Lease, the Commencement Date is hereby
established as
                                         
   , 2007. 
  

							
		 		 	TENANT
			
	Dated:
                                         
                           	 		 	 Vocera Communications, Inc., a

		 		 	 Delaware corporation

				
		 		 	By	 	  

				
		 		 	Its	 	  

				
		 		 	By	 	  

				
		 		 	Its	 	  

			
		 		 	 LANDLORD

			
	Dated:
                                         
                           	 		 	 525 RACE STREET, LLC,

		 		 	 a California limited liability company,

				
		 		 	 By:
	 	 TBI-Race Street, LLC, a California

		 		 		 	 limited liability company

		 		 		 	 Manager

									
					
		 		 		 	             By:
	 	 Toeniskoetter & Breeding, Inc.

		 		 		 		 	 Development, Manager

									
					
		 		 	 By:
	 		 	  

		 		 		 		 	 Brad W. Krouskup, President

		 		 		 		 	

 EXHIBIT D 

WORK LETTER AGREEMENT 
 In connection with the Tenant Improvements to be installed on the Premises Landlord and Tenant hereby agree as follows: 

1.      Plans and Specifications for Tenant Improvements. 

         (a)        Tenant
shall prepare and submit to Landlord for Landlord’s review and approval (which shall not be unreasonably withheld) a space plan for Tenant’s proposed Tenant Improvements to the Premises. Within five (5) business days after receipt of
Tenant’s space plan, Landlord shall notify Tenant of Landlord’s approval or disapproval thereof, specifying in reasonable detail the basis for Landlord’s disapproval, if applicable. Following approval of the space plan, Tenant shall
retain a licensed architect for the preparation of final working architectural and engineering plans and specifications for the Tenant Improvements to be constructed on the Premises based upon the approved space plan (“Final Plans and
Specifications”). Tenant shall submit the Final Plans and Specifications to Landlord for Landlord’s review and approval (which shall not be unreasonably withheld). Within five (5) business days after receipt of the Final Plans and
Specifications, Landlord shall notify Tenant of Landlord’s approval or disapproval thereof, specifying in reasonable detail the basis for Landlord’s disapproval, if applicable. Thereafter, Tenant shall revise the Final Plans and
Specifications taking into account Landlord’s comments and resubmit the same to Landlord for Landlord’s reasonable approval, which Landlord shall provide or withhold within three (3) business days after receipt of such revised plans.
In the event Landlord fails to approve or disapprove the space plan or the Final Plans and Specifications within the applicable time periods set forth above, Landlord shall be deemed to have approved the same. 

         (b)        
Landlord’s review of the Final Plans and Specifications as set forth herein shall be for Landlord’s sole purpose and shall not imply Landlord’s review of the same, nor obligate Landlord to review the same, for quality, design,
compliance with laws or other like matters. Accordingly, notwithstanding that any Final Plans and Specifications are reviewed by Landlord or its space planner, architect engineers or consultants, Landlord shall have no liability whatsoever in
connection therewith and shall not be responsible for any omissions or errors contained in the Final Plans and Specifications. 
  2.      Permits and Approvals.   Tenant shall be responsible for obtaining all necessary permits and approvals (including the building and occupancy
permits) and other authorizations from the City of San Jose or other governmental agencies in connection with the construction of the Tenant Improvements. Tenant shall provide Landlord with copies of all required permits and approvals within ten
(10) days after completion of the Tenant Improvements. 

 3.      Construction and Work Quality.   Tenant shall construct or
install the Tenant Improvements pursuant to a contract with licensed general contractor approved by Landlord, which approval shall not be unreasonably withheld. The Tenant Improvements shall constructed or installed in a good and workmanlike manner
in compliance with (a) the Final Plans and Specifications approved by Landlord and Tenant, (b) all applicable laws, rules, 

  
 1 

 
regulations, and (c) the building permit issued by the City of San Jose for such construction. Tenant shall arrange for the Tenant Improvements to be fully warranted (labor and materials) by
the general contractor, subcontractor, or appropriate supplier, as the case may be, for a period of one (1) year from the completion thereof. 
  4.      Tenant Improvements Cost.   The Tenant Improvements cost (“Tenant Improvements Cost”) shall include all costs of designing and
constructing the Tenant Improvements, including but not be limited to: (a) all space planning fees and all costs of preliminary and final architectural and engineering plans and specifications for the Tenant Improvements, and engineering costs
associated with completion of the State of California energy utilization calculations under Title 24 legislation; (b) all costs of obtaining building permits and other necessary authorizations from the City of San Jose; and (c) all direct
and indirect costs of procuring, constructing and installing the Tenant Improvements in the Premises, including, but not limited to, the general contractor’s construction fee for overhead and profit, and the cost of all on-site supervisory
staff, office, equipment and temporary services rendered by Tenant’s general contractor in connection with construction of the Tenant Improvements. In no event shall the Tenant Improvements Cost include any costs of procuring, constructing or
installing in the Premises any of Tenant’s Personal Property, which shall be Tenant’s sole responsibility. 
  5.      Payment of Tenant Improvements Cost.   Landlord shall provide an allowance of Three Hundred Thousand and no/100ths Dollars ($300,000.00) for
the design and construction of the Tenant Improvements (“Tenant Improvements Allowance”). The Tenant Improvements Allowance shall be the maximum contribution by Landlord for the Tenant Improvements Costs. Any Tenant Improvement Costs in
excess of the Tenant Improvements Allowance shall be paid by Tenant. The Tenant Improvements Allowance shall be paid to Tenant within ten (10) days after the Tenant Improvements have been completed and Landlord has received all of the
following: (i) itemized invoices for the Tenant Improvement Costs paid; (ii) an unconditional release and waiver upon final payment from the general contractor and each subcontractor and supplier engaged in connection with the Tenant
Improvements; (iii) copies of all building permits, indicating inspection and approval by the issuer of the permits; (iv) an architect’s certification that the Premises have been completed in accordance with the Final Plans and
Specifications. 
  6.      Change Requests.   No revisions
to the approved Final Plans and Specifications shall be made by either Landlord or Tenant unless approved in writing by both parties, which approval shall not be unreasonably withheld or delayed. Tenant agrees to make all changes required by any
public agency to conform with governmental regulations. Any costs related to such changes shall be added to the Tenant Improvements Cost and shall be paid for by Tenant as set forth in Paragraph 5. 

 7.      No Removal.   Tenant shall have no obligation to remove the
Tenant Improvements upon expiration of the Term. 

  
 2 

 SCHEDULE 1 
 Space Plan 
 (See attached) 

  
 3 

 FIRST AMENDMENT TO LEASE 

The First Amendment to Lease (“First Amendment”), dated as of February 17, 2011, is entered into by and between 525 Race
Street, LLC, a California limited liability company (“Landlord”), and Vocera Communications, Inc., a Delaware corporation (“Tenant”). 
 RECITALS 

A.        Landlord and Tenant entered into that certain Lease dated
September 26, 2007 (the “Lease”) for the premises consisting of approximately 46,305 rentable square feet (the “Premises”) on the first and second floors of that certain building located at 525 Race Street, San Jose,
California (the “Building”). 
 B.        The term of the
Lease (the “Term”) is scheduled to expire on November 30, 2012. 

C.        Tenant now desires to surrender certain space in the Building, to lease
additional space in the Building, and to extend the Term for a period of forty (40) months, on the terms and conditions set forth in this First Amendment. 
 AGREEMENT 
 In consideration of the mutual covenants set forth herein and
other valuable consideration, Landlord and Tenant agree as follows: 

1.        Premises. 

(a)      Paragraph 1.1 of the lease is hereby amended to provide that, as of April 1,
2011, the Premises shall be expanded to include the approximately 14,125 rentable square feet of space on the first floor of the Building shown on Exhibit A-1 (the “First Additional Space”). Paragraph 1.1 of the lease is further
amended to delete form the Premises the approximately 2,500 square feet of space on the second floor of the Building shown on Exhibit A-2 (the “Surrender Space”). From and after April 1, 2011, the Premises shall consist of a
total area of approximately 57,930 rentable square feet. Upon execution of this First Amendment, Tenant shall vacate and surrender possession of the Surrender Space. 

(b)      Paragraph 1.1 of the Lease is further amended to provide that, as of
April 1, 2013, the Premises shall be expanded to include the approximately 12,070 rentable square feet of space on the second floor of the Building as shown on Exhibit A-3 (the “Second Additional Space”), so that from and after
April 1, 2013, the Premises shall consist of the entire Building, which shall be deemed to consist of a total area of approximately 70,000 rentable square feet. 

2.        Monthly Rent. Paragraph 1.6 of the lease is hereby amended to
provide that, as of April 1, 2011, Tenant shall pay Monthly Rent for the Premises in accordance with the following schedule: 

  
 4 

			
	 Months of Term
	  	Monthly Rent
		
	 Apr 1, 2011 – Mar 31, 2012
	  	 $75,309.00/month
	 Apr 1, 2012 – Mar 31, 2013
	  	 $77,945.00/month
	 Apr 1, 2013 – Mar 31, 2014
	  	 $97,481.00/month
	 Apr 1, 2014 – Mar 31, 2015
	  	$100,893.00/month
	 Apr 1, 2015 – Mar 31, 2016
	  	$104,425.00/month

 Notwithstanding the foregoing to the contrary, if the Initial Tenant Improvements (defined below) are not
substantially completed by April 15, 2011 for any reason other than delays caused by Tenant, then the Monthly Rent for the Premises shall be reduced by $18,362.50 per month, prorated on a daily basis, from April 15, 2011 until the Initial
Tenant Improvements are substantially completed. Likewise, if Additional Tenant Improvements are not substantially completed by April 15, 2013 for any reason than delay caused by Tenant, then the Monthly Rent shall be reduced by $16,808.50 per
month, prorated on a daily basis, from April 15, 2013 until the Additional Tenant Improvements are substantially completed. 
 In addition to the foregoing, if the Initial Tenant Improvements are not substantially completed by August 1, 2011 for any reason other than delays caused by Tenant, then, as Tenant’s sole and
exclusive remedy, Tenant shall have the option to terminate this First Amendment by delivery of written notice to Landlord no later than August 15, 2011. In such event, the Lease shall continue in full force and effect in accordance with its
original terms, unmodified by the terms of this First Amendment, so that the Term of the Lease shall expire on November 30, 2012, except that (i) for the balance of the Term the Premises shall consist of a total area of approximately
43,805 rentable square feet, (ii) Tenant’s Percentage shall be reduced accordingly, and (iii) the Monthly Rent shall be $81,039.25 per month for the period from August 1, 2011 through November 30, 2011, and $83,229.50 per
month for the period of December 1, 2011 through November 30, 2012. 

3.        Tenant’s Percentage. Paragraph 3.14 of the lease is hereby
amended to provide that as of April 1, 2011 Tenant’s Percentage shall be increased to 82.76% and as of April 1, 2013 Tenant’s Percentage shall be increased to 100%. 

4.        Term. Paragraphs 1.4 and 4.1 of the lease are hereby amended to
extend the Term for a period of forty (40) months so that, subject to Tenant’s option to further extend the Term as set forth in paragraph 40 of the Lease (as modified below), the Term of the lease shall now expire on March 31, 2016.

 5.        Repair and Maintenance. Paragraph 16.1 of the Lease
is hereby amended to provide that, if Landlord exercises its option to require Tenant to maintain and repair the HVAC system for the Premises, (i) for the period from April 1, 2011 through March 31, 2013, Tenant shall not be required
to pay more than Three Thousand Eight Hundred Dollars ($3,800) per repair for any repairs made to the HVAC system serving the Premises, nor more than Nineteen Thousand Dollars ($19,000) per year, in the aggregate, for any repairs to the HVAC system
serving the Premises, and (ii) for the period from April 1, 2013 through March 31, 2016, Tenant shall not be required to pay more than Five Thousand Dollars ($5,000) per repair for any repairs made to the HVAC system serving the
Premises, nor more than Twenty-three Thousand Dollars ($23,000) per year, in 

  
 5 

 
aggregate, for any repairs to the HVAC system serving the Premises The foregoing limitation shall not, however, apply to any repairs that are required as a result of the gross negligence or
willful misconduct of Tenant, its agents, employees or contractors. 

6.        Operating Expenses. 

(a)      Paragraph 16.3 of the Lease is hereby amended to provide that (i) for the
period from April 1, 2011 through March 31, 2013, Tenant shall not be required to pay more than Three Thousand Eight Hundred Dollars ($3,800) per repair or replacement for any repairs or replacements made to the HVAC system serving the
Premises, nor more than Nineteen Thousand Dollars ($19,000) per year, in the aggregate, or any repairs or replacements to the HVAC system serving the Premises, and (ii) for the period from April 1, 2013 through March 31, 2016, Tenant
shall not be required to pay more than Five Thousand Dollars ($5,000) per repair or replacement for any repairs or replacements made to the HVAC system serving the Premises, nor more than Twenty-three Thousand Dollars ($23,000) per year in the
aggregate, for any repairs or replacements to the HVAC system serving the Premises. The foregoing limitation shall apply only to the cost of any repair and replacements to the HVAC system and shall not apply to the routine maintenance and servicing
of the HVAC system, which shall be included in Operating Expenses, nor shall such limitation apply to the cost of any repairs or replacements to the HVAC system that are required as a result of the gross negligence or willful misconduct of Tenant,
its agents, employees or contractors, which shall be paid by Tenant upon receipt of an invoice from Landlord for such repairs and/or replacements. 
 (b)      Paragraph 16.3 is further hereby amended to provide that, as of April 1, 2013, the management fee included in Operating Expenses shall not exceed 2.5% of the
Rent. 
 7.        Tenant Improvements. 

(a)      Landlord shall construct, at Landlord’s expense, certain improvements to the
First Additional Space and the Second Additional Space in accordance with the space plan prepared by ArcTec dated February 15, 2011, a copy which is attached as Exhibit B (the “Approved Space Plan”). Any such improvements
to be made to the First Additional Space shall be referred to herein as the “Initial Tenant Improvements” and any such improvements to be made to the Second Additional Space shall be referred to as the “Additional Tenant
Improvements.” The Initial Tenant Improvements and the Additional Tenant Improvements shall be referred to collectively herein as the “Tenant Improvements.” Landlord shall construct the Tenant Improvements in a good and workmanlike
manner in accordance with applicable laws and the Approved Space Plan. Landlord shall complete the Initial Tenant Improvements as soon as possible but in any event no later than March 31, 2011, subject only to delays caused by force majeure.
Landlord shall complete the Additional Tenant Improvements by March 31, 2013, subject only to delays caused by force majeure. The Tenant Improvements shall include new carpet in the Premises as of the date of this First Amendment and any and
all electrical and mechanical work necessary to balance the HVAC system serving the Premises. The finishes for the Tenant Improvements shall be consistent with Building standard as to t-bar ceiling grid and tiles, carpeting, painting, hardware and
other finish work. 
 (b)      Promptly following the date hereof, Landlord shall
cause its architect to prepare working drawings consistent with the Approved Space Plan and shall provide such working drawings to Tenant for Tenant’s review and approval, which approval shall not be unreasonably withheld or delayed. The
working drawings, once approved, shall constitute the Final Plans and Specifications. No changes to the Approved Space Plan or the Final Plans and Specifications shall 

  
 6 

 
be made by either Landlord or Tenant unless approved in writing by both parties. Any increase in the cost of construction resulting from any change orders requested by Tenant shall be paid by
Tenant as provided herein. If Landlord and Tenant agree on any change orders requested by Tenant, Landlord shall furnish Tenant with an invoice specifying the estimated increase in the cost of the Tenant Improvements resulting therefrom, and Tenant
shall pay such estimated increase to Landlord within thirty (30) days thereafter. 

(c)      Within fifteen (15) days after completion of the Initial Tenant Improvements
and when applicable, within fifteen (15) days after completion of the Additional Tenant Improvements, Tenant shall conduct a walk-through inspection of the First Additional Space and, when applicable, the Second Additional Space, with Landlord
and complete a punch-list of any incomplete or defective work. If Tenant fails to submit a punch-list to Landlord within such fifteen (15) day period, it shall be deemed that there are no Tenant Improvement items needing additional work or
repair. Landlord’s contractor shall complete all reasonable punch-list items with thirty (30) days after the walk-through inspection or as soon as practicable thereafter. Upon completion of such punch-list items, Tenant shall approve such
completed items in writing to Landlord. If Tenant fails to approve such items within fourteen (14) days of completion, such items shall be deemed approved by Tenant; provided that such approval shall not affect the warranty specified in
Paragraph 7(f) of this First Amendment. 
 (d)      Other than the items
specified in the punch-list, if any, and subject to the warranty specified in Paragraph 7(f) of this First Amendment, by taking possession of the First Additional Space and the Second Additional Space Tenant shall be deemed to have accepted the
First Additional Space and the Second Additional Space in good, clean and completed condition and repair, subject to all applicable laws, codes and ordinances. Any damage to the First Additional Space and/or the Second Additional Space caused by
Tenant’s move-in shall be repaired or corrected by Tenant, at its expense. Tenant acknowledges that neither Landlord nor its agents have made any representations or warranties as to the suitability or fitness of the First Additional Space or
the Second Additional Space for the conduct of Tenant’s business or for any other purpose, nor has Landlord or its agents agreed to undertake any alterations or construct any improvements to the Premises, the First Additional Space or the
Second Additional Space except as expressly provided in this First Amendment. 

(e)      Tenant acknowledges that, as Tenant will continue to occupy the Premises during
the completion of the Tenant Improvements, there may occur some disruptions to Tenant’s business as a result of such work. Landlord and Tenant agree to cooperate with each other to minimize any interference that such work may cause to the
conduct of Tenant’s business and to minimize any interference that Tenant’s continued occupancy may cause to the completion of the Tenant Improvements. Landlord shall have no liability to Tenant, however, for any disruption or
inconvenience that such work may cause to Tenant’s business except to the extent caused by the negligence or willful misconduct of Landlord. Tenant shall be responsible for temporarily relocating any furniture or equipment as may be necessary
to complete the Tenant Improvements. 
 (f)      Landlord covenants that all work
and materials incorporated as part of the Tenant Improvements will be new quality construction and will be subject to such warranties as are customarily furnished to owners in connection with new construction of improvements, such as the Tenant
Improvements. Landlord shall cause all repairs or replacement covered by such warranties to be made by the appropriate contractor or supplier without the same being charged as part of Operating Expenses payable under the Lease. In any event,
Landlord will warrant the Tenant 

  
 7 

 
Improvements against defects for a period of not less than one (1) year from the date of completion of the Tenant Improvements. 

(g)        During the course of construction of the Tenant Improvements, Tenant
shall have the right to enter the First Additional Space, and the Second Additional Space, when applicable, in order to install Tenant’s furniture, fixture and equipment, including cabling, provided that in doing so Tenant does not interfere
with the construction of the Tenant Improvements. 

8.          Option to Extend.  The first sentence of
Paragraph 40.1 of the Lease is hereby deleted and replaced with the following: 
 Provided there is not an
uncured Event of Default, either at the time of exercise or at the time the extended Term commences, Tenant shall have the option to extend the Term of this Lease for one (1) additional period of three (3) years (“Option Period”)
on the same terms, covenants and conditions provided herein, except that upon such renewal (a) the Monthly Rent due hereunder shall be the greater of ninety-five percent (95%) of the then fair market rental value of the Premises, and
(2) $1.49 per square foot per month; and (b) Landlord shall not be obligated to construct any tenant improvements to the Premises. 
 9.          Right of First Refusal.  Paragraph 41 of the Lease is hereby deleted in its entirety. 

10.        Broker.  Tenant represents and warrants to Landlord
that Tenant has had no dealings with any real estate broker, agents or finder in connection with this First Amended other than CresaPartners, its exclusive representative. Landlord shall pay a commission to CresaPartners in accordance with a
separate written agreement between Landlord and CresaPartners. 

11.        No Further Modifications.  Except as set forth in
this First Amendment, the Lease is unmodified and in full force and effect. 
  

																	
	 LANDLOARD
	 		 	 TENANT
	 	
				
	 525 RACE STREET, LLC
	 		 	 VOCERA COMMUNICATIONS, INC.
	 	
	 a California limited liability company
	 		 	 a Delaware corporation
	 	
					
	 By: TBI-Race Street, LLC
	 		 	 By:
	 	 /s/ Martin J. Silver
	 	
	 a California limited liability company, Manager
	 		 	 Its:
	 	  

CFO
	 	

  

											
		  	     By:
	 	 Toeniskoetter & Breeding, Inc.
	 		 	
		  		 	 Development Manager
	 		 	
						
		  		 	 By:
	 	 /s/ Brad W. Krouskup
	 		 	
		  		 		 	 Brad W. Krouskup, President and
	 	
		  		 		 	 Chief Executive Officer
	 	

  
 8Second Amended and Restated Loan and Security Agreement

 Exhibit 10.12 

 
  
 VOCERA COMMUNICATIONS, INC. 
 SECOND AMENDED AND RESTATED LOAN AND
SECURITY AGREEMENT 
  
  

 This SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT is entered into as of
January 30, 2009, by and between COMERICA BANK (“Bank”) and VOCERA COMMUNICATIONS, INC. (“Borrower”). 

RECITALS 

Bank and Borrower are parties to that certain Amended and Restated Loan and Security Agreement, dated as of September 22, 2006, as
amended from time to time (the “Original Agreement” ). Borrower and Bank wish to amend and restate the terms of the Original Agreement. This Agreement sets forth the terms on which Bank will advance credit to Borrower, and Borrower will
repay the amounts owing to Bank. 
 AGREEMENT 
 The parties agree as follows: 
 1. DEFINITIONS AND CONSTRUCTION.

 1.1 Definitions. As used in this Agreement, the following terms shall have the following definitions:

 “Accounts” means all presently existing and hereafter arising accounts, contract rights, payment
intangibles, and all other forms of obligations owing to Borrower arising out of the sale or lease of goods (including, without limitation, the licensing of software and other technology) or the rendering of services by Borrower, whether or not
earned by performance, and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by Borrower and Borrower’s Books relating to any of the foregoing. 

“ACH Sublimit” means a sublimit for Automated Clearing House transactions under the Revolving Line not to exceed
One Hundred Thousand Dollars ($100,000). 
 “Advance” or “Advances” means a cash advance or
cash advances under the Revolving Line. 
 “Affiliate” means, with respect to any Person, any Person
that owns or controls directly or indirectly such Person, any Person that controls or is controlled by or is under common control with such Person, and each of such Person’s senior executive officers, directors, and partners. 

“Bank Expenses” means all: reasonable costs or expenses (including reasonable attorneys’ fees and expenses,
whether generated in-house or by outside counsel) incurred in connection with the preparation, negotiation, administration, and enforcement of the Loan Documents; reasonable Collateral audit fees; and Bank’s reasonable attorneys’ fees and
expenses (whether generated in-house or by outside counsel) incurred in amending, enforcing or defending the Loan Documents (including fees and expenses of appeal), incurred before, during and after an Insolvency Proceeding, whether or not suit is
brought. 

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

“Borrowing Base” means an amount equal to eighty percent (80%) of Eligible Accounts, as determined by Bank
with reference to the most recent Borrowing Base Certificate delivered by Borrower; provided however that Bank may change the advance rate based on the results of audits of the Accounts by giving Borrower thirty (30) days prior written notice.

 “Business Day” means any day that is not a Saturday, Sunday, or other day on which banks in the
State of California are authorized or required to close. 
 “Cash” means unrestricted cash and cash
equivalents. 
 “Change in Control” shall mean a transaction in which any “person” or
“group” (within the meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) becomes the “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly,
of a sufficient number of shares of all classes of stock then outstanding of Borrower ordinarily entitled to vote in the election of directors, empowering such “person” or “group” to elect a majority of the Board of Directors of
Borrower, who did not have such power before such transaction. 
 “Chief Executive Office State” means
California, where Borrower’s chief executive office is located. 
 “Closing Date” means the date
of this Agreement. 
 “Code” means the California Uniform Commercial Code, as amended or supplemented
from time to time. 
 “Collateral” means the property described on Exhibit A attached hereto and all
Negotiable Collateral to the extent not described on Exhibit A, except to the extent any such property (i) is nonassignable by its terms without the consent of the licensor thereof or another party (but only to the extent such prohibition on
transfer is enforceable under applicable law, including, without limitation, Sections 9406 and 9408 of the Code), or (ii) the granting of a security interest therein is contrary to applicable law, provided that upon the cessation of any such
restriction or prohibition, such property shall automatically become part of the Collateral; provided that in no case shall the definition of “Collateral” exclude any Accounts, proceeds of the disposition of any property, or general
intangibles consisting of rights to payment. 
 “Collateral State” means the state where the Collateral
is located, which is California. 

  
 2 

 “Contingent Obligation” means, as applied to any Person, any
direct or indirect liability, contingent or otherwise, of that Person with respect to (i) any indebtedness, lease, dividend, letter of credit or other obligation of another, including, without limitation, any such obligation directly or
indirectly guaranteed, endorsed, co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit,
corporate credit cards, or merchant services issued for the account of that Person; and (iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or
other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for
collection or deposit in the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is
made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the
obligations under the guarantee or other support arrangement. 
 “Credit Extension” means each Advance,
Equipment Advance, Existing Equipment Advance, Term Advance or any other extension of credit by Bank to or for the benefit of Borrower hereunder. 
 “Current Liabilities” means, as of any applicable date, all amounts that should, in accordance with GAAP, be included as current liabilities on the consolidated balance sheet of Borrower and its
Subsidiaries, as at such date, plus, to the extent not already included therein, undrawn Letters of Credit and Borrower’s maximum potential obligations under the ACH Sublimit, if any, but specifically excluding any cash- secured Obligations.

 “Deferred Revenue” means all amounts received in advance of performance under contracts and not yet
recognized as revenue. 
 “Eligible Accounts” means those Accounts that arise in the ordinary course of
Borrower’s business that comply with all of Borrower’s representations and warranties to Bank set forth in Section 5.3; provided, that Bank may change the standards of eligibility in Bank’s reasonable business discretion by
giving Borrower thirty (30) days prior written notice. Unless otherwise agreed to by Bank, Eligible Accounts shall not include the following: 
 (a) Accounts that the account debtor has failed to pay in full within ninety (90) days of invoice date; 
 (b) Credit balances over ninety (90) days; 
 (c) Accounts with
respect to an account debtor, twenty-five percent (25%) of whose Accounts the account debtor has failed to pay within ninety (90) days of invoice date; 

(d) Accounts with respect to an account debtor, including Subsidiaries and Affiliates, whose total obligations to Borrower
exceed twenty five percent (25%) of all 

  
 3 

 
Accounts, to the extent such obligations exceed the aforementioned percentage, except as approved in writing by Bank; 

(e) Accounts with respect to which the account debtor does not have its principal place of business in the United States,
except for Eligible Foreign Accounts; 
 (f) Accounts with respect to which the account debtor is the United
States or any department, agency, or instrumentality of the United States, except for Accounts of the United States if the payee has assigned its payment rights to Bank and the assignment has been acknowledged under the Assignment of Claims Act of
1940 (31 U.S.C. 3727); 
 (g) Accounts with respect to which Borrower is liable to the account debtor for goods
sold or services rendered by the account debtor to Borrower, but only to the extent of any amounts owing to the account debtor against amounts owed to Borrower; 
 (h) Accounts with respect to which goods are placed on consignment, guaranteed sale, sale or return, sale on approval, bill and hold, demo or promotional, or other terms by reason of which the payment by
the account debtor may be conditional; 
 (i) Accounts with respect to which the account debtor is an officer,
employee, agent or Affiliate of Borrower; 
 (j) Accounts that have not yet been billed to the account debtor or
that relate to deposits (such as good faith deposits) or other property of the account debtor held by Borrower for the performance of services or delivery of goods which Borrower has not yet performed or delivered; 

(k) Prebilled “Support or Services” Accounts to the extent all such Accounts exceed Five Hundred Thousand
Dollars ($500,000); 
 (l) Accounts with respect to which the account debtor disputes liability or makes any
claim with respect thereto as to which Bank believes, in its sole discretion, that there may be a basis for dispute (but only to the extent of the amount subject to such dispute or claim), or is subject to any Insolvency Proceeding, or becomes
insolvent, or goes out of business; 
 (m) Accounts the collection of which Bank reasonably determines after
inquiry and consultation with Borrower to be doubtful; and 
 (n) Retentions and hold-backs. 

“Eligible Foreign Accounts” means Accounts with respect to which the account debtor does not have its principal
place of business in the United States and that are (i) supported by one or more letters of credit in an amount and of a tenor, and issued by a financial institution, acceptable to Bank, (ii) insured by the Export Import Bank of the United
States, (iii) generated by an account debtor with its principal place of business in Canada, provided that the Bank has perfected its security interest in the appropriate Canadian province, or (iv) approved by Bank on a case-by-case basis.
All Eligible Foreign Accounts must be calculated in U.S. Dollars. 

  
 4 

 “Environmental Laws” means all laws, rules, regulations, orders
and the like issued by any federal state, local foreign or other governmental or quasi-governmental authority or any agency pertaining to the environment or to any hazardous materials or wastes, toxic substances, flammable, explosive or radioactive
materials, asbestos or other similar materials. 
 “Equipment” means all present and future machinery,
equipment, tenant improvements, furniture, fixtures, vehicles, tools, parts and attachments in which Borrower has any interest. 
 “Equipment Advance(s)” means a cash advance or cash advances under the Equipment Line. 
 “Equipment Availability End Date” means September 28, 2009. 
 “Equipment Line” means a Credit Extension of up to Seven Hundred Fifty Thousand Dollars ($750,000). 
 “Equipment Maturity Date” means March 28, 2011. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder.

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

“Existing Equipment Advances” means certain Credit Extensions made by Bank to Borrower pursuant the Original
Agreement which are currently amortizing. 
 “GAAP” means generally accepted accounting principles,
consistently applied, as in effect from time to time. 
 “Indebtedness” means (a) all indebtedness
for borrowed money or the deferred purchase price of property or services, including without limitation reimbursement and other obligations with respect to surety bonds and letters of credit, (b) all obligations evidenced by notes, bonds,
debentures or similar instruments, (c) all capital lease obligations, (d) all Contingent Obligations, and (e) all obligations arising under the ACH Sublimit. 

“Insolvency Proceeding” means any proceeding commenced by or against any Person or entity under any provision of
the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, including assignments for the benefit of creditors, formal or informal moratoria, compositions, extension generally with its creditors, or proceedings
seeking reorganization, arrangement, or other relief. 
 “Inventory” means all present and future
inventory in which Borrower has any interest. 

  
 5 

 “Investment” means any beneficial ownership of (including stock,
partnership or limited liability company interest other securities) any Person, or any loan, advance or capital contribution to any Person. 
 “IRC” means the Internal Revenue Code of 1986, as amended, and the regulations thereunder. 
 “Letter of Credit” means a commercial or standby letter of credit or similar undertaking issued by Bank at Borrower’s request. 

“Lien” means any mortgage, lien, deed of trust, charge, pledge, security interest or other encumbrance.

 “Loan Documents” means, collectively, this Agreement, any note or notes executed by Borrower, and
any other document, instrument or agreement entered into in connection with this Agreement, all as amended or extended from time to time. 
 “Material Adverse Effect” means a material adverse effect on (i) the business operations, condition (financial or otherwise) or prospects of Borrower and its Subsidiaries taken as a whole,
(ii) the ability of Borrower to repay the Obligations or otherwise perform its obligations under the Loan Documents, or (iii) Borrower’s interest in, or the value, perfection or priority of Bank’s security interest in the
Collateral. 
 “Negotiable Collateral” means all of Borrower’s present and future letters of
credit of which it is a beneficiary, drafts, instruments (including promissory notes), securities, documents of title, and chattel paper, and Borrower’s Books relating to any of the foregoing. 

“Obligations” means all debt, principal, interest, Bank Expenses and other amounts owed to Bank by Borrower
pursuant to this Agreement or any other agreement, whether absolute or contingent, due or to become due, now existing or hereafter arising, including any interest that accrues after the commencement of an Insolvency Proceeding and including any
debt, liability, or obligation owing from Borrower to others that Bank may have obtained by assignment or otherwise. 
 “Periodic Payments” means all installments or similar recurring payments that Borrower may now or hereafter become obligated to pay to Bank pursuant to the terms and provisions of any
instrument, or agreement now or hereafter in existence between Borrower and Bank. 
 “Permitted
Indebtedness” means: 
 (a) Indebtedness of Borrower in favor of Bank arising under this Agreement or any
other Loan Document; 
 (b) Indebtedness existing on the Closing Date and disclosed in the Schedule; 

  
 6 

 (c) Indebtedness not to exceed Two Hundred Fifty Thousand Dollars ($250,000)
in the aggregate in any fiscal year of Borrower secured by a lien described in clause (c) of the defined term “Permitted Liens;” provided such Indebtedness does not exceed the lesser of the cost or fair market value of the equipment
financed with such Indebtedness; 
 (d) Subordinated Debt; 

(e) Indebtedness to trade creditors incurred in the ordinary course of business; and 

(f) Extensions, refinancings and renewals of any items of Permitted Indebtedness, provided that the principal amount is
not increased or the terms modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be. 
 “Permitted Investment” means: 
 (a) Investments existing
on the Closing Date disclosed in the Schedule; and 
 (b) (i) Marketable direct obligations issued or
unconditionally guaranteed by the United States of America or any agency or any State thereof maturing within one (1) year from the date of acquisition thereof, (ii) commercial paper maturing no more than one (1) year from the date of
creation thereof and currently having rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors Service, (iii) Bank’s certificates of deposit maturing no more than one year from the
date of investment therein, and (iv) Bank’s money market accounts; 
 (c) Repurchases of stock from
former employees, directors, consultants or contractors of Borrower under the terms of applicable repurchase agreements (i) in an aggregate amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000) in any fiscal year, provided that no
Event of Default has occurred, is continuing or would exist after giving effect to the repurchases, or (ii) in any amount where the consideration for the repurchase is the cancellation of indebtedness owed by such former employees to Borrower
regardless of whether an Event of Default exists; 
 (d) Investments accepted in connection with Permitted
Transfers; 
 (e) Investments of Subsidiaries in or to other Subsidiaries or Borrower and Investments by Borrower
in Subsidiaries not to exceed Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate in any fiscal year; 

(f) Investments not to exceed Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate in any fiscal year consisting
of (i) travel advances and employee relocation loans and other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or
its Subsidiaries pursuant to employee stock purchase plan agreements approved by Borrower’s Board of Directors; 

  
 7 

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

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

(i) Joint ventures or strategic alliances in the ordinary course of Borrower’s business consisting of the
non-exclusive licensing of technology, the development of technology or the providing of technical support, provided that any cash Investments by Borrower do not exceed Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate in any fiscal
year. 
 “Permitted Liens” means the following: 

(a) Any Liens existing on the Closing Date and disclosed in the Schedule (excluding Liens to be satisfied with the
proceeds of the Advances) or arising under this Agreement or the other Loan Documents; 
 (b) Liens for taxes,
fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings and for which Borrower maintains adequate reserves, provided the same have no priority over any of
Bank’s security interests; 
 (c) Liens not to exceed Two Hundred Fifty Thousand Dollars ($250,000) in the
aggregate (i) upon or in any Equipment (other than Equipment financed by an Equipment Advance) acquired or held by Borrower or any of its Subsidiaries to secure the purchase price of such Equipment or indebtedness incurred solely for the
purpose of financing the acquisition or lease of such Equipment, or (ii) existing on such Equipment at the time of its acquisition, provided that the Lien is confined solely to the property so acquired and improvements thereon, and the proceeds
of such Equipment; 
 (d) Liens incurred in connection with the extension, renewal or refinancing of the
indebtedness secured by Liens of the type described in clauses (a) through (c) above, provided that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the
indebtedness being extended, renewed or refinanced does not increase; 
 (e) Liens arising from judgments,
decrees or attachments in circumstances not constituting an Event of Default under Sections 8.5 or 8.9. 

“Permitted Transfer” means the conveyance, sale, lease, transfer or disposition by Borrower or any Subsidiary
of: 
 (a) Inventory in the ordinary course of business; 

  
 8 

 (b) licenses and similar arrangements for the use of the property of
Borrower or its Subsidiaries in the ordinary course of business; 
 (c) worn-out or obsolete Equipment not
financed with the proceeds of Equipment Advances or Existing Equipment Advances; or 
 (d) other assets of
Borrower or its Subsidiaries that do not in the aggregate exceed Two Hundred Fifty Thousand Dollars ($250,000) during any fiscal year. 
 “Person” means any individual, sole proprietorship, partnership, limited liability company, joint venture, trust, unincorporated organization, association, corporation, institution, public
benefit corporation, firm, joint stock company, estate, entity or governmental agency. 
 “Prime Rate”
means the variable rate of interest, per annum, most recently announced by Bank, as its “prime rate,” whether or not such announced rate is the lowest rate available from Bank. 

“Responsible Officer” means each of the Chief Executive Officer, the Chief Operating Officer, the Chief
Financial Officer and the Controller of Borrower. 
 “Revolving Line” means a Credit Extension of up to
Five Million Dollars ($5,000,000) (inclusive of any amounts outstanding under the ACH Sublimit) 

“Revolving Maturity Date” means the date three hundred sixty four (364) days after the Closing Date.

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

 “SOS Reports” means the official reports from the Secretaries of State of each Collateral State,
Chief Executive Office State and the Borrower State and other applicable federal, state or local government offices identifying all current security interests filed in the Collateral and Liens of record as of the date of such report. 

“Subordinated Debt” means any debt incurred by Borrower that is subordinated in writing to the debt owing by
Borrower to Bank on terms reasonably acceptable to Bank (and identified as being such by Borrower and Bank). 

“Subsidiary” means any corporation, partnership or limited liability company or joint venture in which
(i) any general partnership interest or (ii) more than fifty percent (50%) of the stock, limited liability company interest or joint venture of which by the terms thereof has the ordinary voting power to elect the Board of Directors,
managers or trustees of the entity, at the time as of which any determination is being made, is owned by Borrower, either directly or through an Affiliate. 
 “Term Advance(s)” means a cash advance or cash advances under the Term Line. 
 “Term Availability End Date” means October 30, 2009. 

  
 9 

 “Term Line” means a Credit Extension of up to Two Million Dollars
($2,000,000). 
 “Term Line Maturity Date” means January 30, 2012. 

1.2 Accounting Terms. Any accounting term not specifically defined herein shall be construed in accordance with
GAAP and all calculations shall be made in accordance with GAAP. The term “financial statements” shall include the accompanying notes and schedules. 
 2. LOAN AND TERMS OF PAYMENT. 
 2.1 Credit
Extensions. 
 (a) Promise to Pay. Borrower promises to pay to Bank, in lawful money of the United
States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower, together with interest on the unpaid principal amount of such Credit Extensions at rates in accordance with the terms hereof. 

(b) Advances Under Revolving Line. 

(i) Amount. Subject to and upon the terms and conditions of this Agreement (1) Borrower may request Advances
in an aggregate outstanding amount not to exceed the lesser of (A) the Revolving Line or (B) the Borrowing Base, less any amounts outstanding under the ACH Sublimit, and (2) amounts borrowed pursuant to this Section 2.1(b) may be
repaid and reborrowed at any time prior to the Revolving Maturity Date, at which time all Advances under this Section 2.1(b) shall be immediately due and payable. Borrower may prepay any Advances without penalty or premium. 

(ii) Form of Request. Whenever Borrower desires an Advance, Borrower will notify Bank by facsimile transmission or
telephone no later than 3:00 p m. Pacific time (1:00 p.m. Pacific time for wire transfers), on the Business Day that the Advance is to be made. Each such notification shall be promptly confirmed by a Payment/Advance Form in substantially the form of
Exhibit B hereto. Bank is authorized to make Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank’s discretion such Advances are
necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall
indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Advances made under this Section 2.1(b) to Borrower’s deposit account. 

(iii) ACH Sublimit. Subject to the terms and conditions of this Agreement, Borrower may request ACH origination
services by delivering to Bank a duly executed ACH application on Bank’s standard form; provided, however, that the total amount of the ACH processing reserves shall not exceed, and availability under the Revolving Line shall be reduced by, the
ACH Sublimit. In addition, Bank may, in its sole discretion, charge as Advances any amounts that become due or owing to Bank in connection with the ACH services. If Borrower has not secured to Bank’s satisfaction its obligations with respect to
any ACH origination services by the Revolving Maturity Date, then, effective as of such date, the balance 

  
 10 

 
in any deposit accounts held by Bank and the certificates of deposit issued by Bank in Borrower’s name (and any interest paid thereon or proceeds thereof, including any amounts payable upon
the maturity or liquidation of such certificates), shall automatically secure such obligations to the extent of the then outstanding ACH origination services. Borrower authorizes Bank to hold such balances in pledge and to decline to honor any
drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the ACH origination services continue. 

(iv) Collateralization of Obligations Extending Beyond Maturity. If Borrower has not secured to Bank’s
satisfaction its obligations with respect to any ACH origination services by the Revolving Maturity Date, then, effective as of such date, the balance in any deposit accounts held by Bank and the certificates of deposit or time deposit accounts
issued by Bank in Borrower’s name (and any interest paid thereon or proceeds thereof, including any amounts payable upon the maturity or liquidation of such certificates or accounts), shall automatically secure such obligations to the extent of
the then continuing or outstanding ACH origination services. Borrower authorizes Bank to hold such balances in pledge and to decline to honor any drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of
such balances for so long as the ACH origination services are outstanding or continue. 
 (c) Equipment
Advances. 
 (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make
Equipment Advances to Borrower. Borrower may request Equipment Advances at any time from the Closing Date through the Equipment Availability End Date. The aggregate outstanding amount of Equipment Advances shall not exceed the Equipment Line. Each
Equipment Advance shall not exceed one hundred percent (100%) of the invoice amount of equipment and software approved by Bank from time to time (which Borrower shall, in any case, have purchased within one hundred twenty (120) days of the
date of the corresponding Equipment Advance), excluding taxes, shipping, warranty charges, freight discounts and installation expense (“Soft Costs”). Equipment Advances for Soft Costs shall not exceed ten percent (10%) of all
Equipment Advances made hereunder. 
 (ii) Interest shall accrue from the date of each Equipment Advance at the
rate specified in Section 2.3(a), and shall be payable in accordance with Section 2.3(c). Any Equipment Advances that are outstanding on the Equipment Availability End Date shall be payable in eighteen (18) equal monthly installments
of principal, plus all accrued interest, beginning on October 28, 2009 and continuing on the same day of each month thereafter through the Equipment Maturity Date, at which time all amounts due in connection with Equipment Advances made under
this Section 2.1(c) shall be immediately due and payable. Equipment Advances, once repaid, may not be reborrowed. Borrower may prepay any Equipment Advances without penalty or premium. 

(iii) When Borrower desires to obtain an Equipment Advance, Borrower shall notify Bank (which notice shall be
irrevocable) by facsimile transmission to be received no later than 3:00 p m. Pacific time three (3) Business Days before the day on which the Equipment Advance is to be made. Such notice shall be substantially in the form of Exhibit

  
 11 

 
B. The notice shall be signed by a Responsible Officer or its designee and include a copy of the invoice for any Equipment to be financed. 

(d) Term Advances. 
 (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Term Advances to Borrower. Borrower may request Term Advances at any time from the Closing Date through the Term
Availability End Date. The aggregate outstanding amount of Term Advances shall not exceed the Term Line. 
 (ii)
Interest shall accrue from the date of each Term Advance at the rate specified in Section 2.3(a), and shall be payable in accordance with Section 2.3(c). Any Term Advances that are outstanding on the Term Availability End Date shall be
payable in twenty seven (27) equal monthly installments of principal, plus all accrued interest, beginning on October 30, 2009 and continuing on the same day of each month thereafter through the Term Maturity Date, at which time all
amounts due in connection with Term Advances made under this Section 2.1(d) shall be immediately due and payable. Term Advances, once repaid, may not be reborrowed. Borrower may prepay any Term Advances without penalty or premium. 

(iii) When Borrower desires to obtain a Term Advance, Borrower shall notify Bank (which notice shall be irrevocable) by
facsimile transmission to be received no later than 3:00 p m. Pacific time three (3) Business Days before the day on which the Term Advance is to be made. Such notice shall be substantially in the form of Exhibit B. The notice shall be signed
by a Responsible Officer or its designee. 
 (e) Existing Equipment Advances. The Existing Equipment
Advances shall continue to amortize and be repaid in accordance with the terms of the Original Agreement. 
 2.2
Overadvances. If the aggregate amount of the outstanding Advances exceeds the lesser of the Revolving Line or the Borrowing Base at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess. 

2.3 Interest Rates, Payments, and Calculations. 

(a) Interest Rates for Credit Extensions. Except as set forth in Section 2.3(b), the Credit Extensions shall
bear interest, on the outstanding daily balance thereof, as set forth in the Daily Adjusting LIBOR Addendum to Second Amended and Restated Loan & Security Agreement attached as Exhibit E. 

(b) Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is
due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest,
from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default. 

  
 12 

 (c) Payments. Interest hereunder shall be due and payable on the
first Business Day of each month during the term hereof. Bank shall, at its option, charge such interest, all Bank Expenses, and all Periodic Payments against any of Borrower’s deposit accounts or against the Revolving Line, in which case those
amounts shall thereafter accrue interest at the rate then applicable hereunder. Any interest not paid when due shall be compounded by becoming a part of the Obligations, and such interest shall thereafter accrue interest at the rate then applicable
hereunder. 
 (d) Computation. In the event the Prime Rate is changed from time to time hereafter, the
applicable rate of interest hereunder shall be increased or decreased, effective as of the day the Prime Rate is changed, by an amount equal to such change in the Prime Rate. All interest chargeable under the Loan Documents shall be computed on the
basis of a three hundred sixty (360) day year for the actual number of days elapsed. 
 2.4 Crediting
Payments. Prior to the occurrence of an Event of Default, Bank shall credit a wire transfer of funds, check or other item of payment to such deposit account or Obligation as Borrower specifies except that to the extent Borrower uses the Advances
to purchase Collateral, Borrower’s repayment of the Advances shall apply on a “first-in-first-out” basis so that the portion of the Advances used to purchase a particular item of Collateral shall be paid in the chronological order the
Borrower purchased the Collateral. After the occurrence of an Event of Default, Bank shall have the right, in its sole discretion, to immediately apply any wire transfer of funds, check, or other item of payment to conditionally reduce Obligations,
but such applications of funds shall not be considered a payment on account unless such payment is of immediately available federal funds or unless and until such check or other item of payment is honored when presented for payment. Notwithstanding
anything to the contrary contained herein, any wire transfer or payment received by Bank after 12:00 noon Pacific time shall be deemed to have been received by Bank as of the opening of business on the immediately following Business Day. Whenever
any payment to Bank under the Loan Documents would otherwise be due (except by reason of acceleration) on a date that is not a Business Day, such payment shall instead be due on the next Business Day, and additional fees or interest, as the case may
be, shall accrue and be payable for the period of such extension. 
 2.5 Fees. Borrower shall pay to Bank
the following: 
 (a) Facility Fee. On the Closing Date, a fee equal to Thirty Thousand Dollars ($30,000),
which shall be nonrefundable; and 
 (b) Bank Expenses. On the Closing Date, all Bank Expenses incurred
through the Closing Date, and, after the Closing Date, all Bank Expenses as and when they become due. 
 2.6
Term. This Agreement shall become effective on the Closing Date and, subject to Section 13.7, shall continue in full force and effect for so long as any Obligations (other than inchoate indemnity obligations) remain outstanding or Bank
has any obligation to make Credit Extensions under this Agreement. Notwithstanding the foregoing, Bank shall have the right to terminate its obligation to make Credit Extensions under this Agreement immediately and without notice upon the occurrence
and during the continuance of an Event of Default. 

  
 13 

 3. CONDITIONS OF LOANS. 

3.1 Conditions Precedent to Initial Credit Extension. The obligation of Bank to make the initial Credit Extension
is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: 
 (a) this Agreement; 
 (b) an officer’s certificate of Borrower
with respect to incumbency and resolutions authorizing the execution and delivery of this Agreement; 
 (c)
current SOS Reports indicating that except for Permitted Liens, there are no other security interests or Liens of record in the Collateral; 
 (d) securities and/or deposit account control agreements with respect to any accounts permitted hereunder to be maintained outside Bank; 

(e) agreement to furnish insurance; 

(f) payment of the fees and Bank Expenses then due specified in Section 2.5 hereof; 

(g) current financial statements, including audited statements for Borrower’s most recently ended fiscal year,
together with an unqualified opinion, company prepared consolidated and consolidating balance sheets and income statements for the most recently ended month in accordance with Section 6.2, and such other updated financial information as Bank
may reasonably request; 
 (h) current Compliance Certificate in accordance with Section 6.2; 

(i) evidence that Borrower has achieved not less than negative One Million Seven Hundred Fifty Thousand Dollars
(($1,750,000)) in net income for the quarter ended December 31, 2008; 
 (j) an audit of the Collateral, the
results of which shall be satisfactory to Bank (provided however such audit shall only be a condition precedent to the first Advance and the first Term Advance and not the first Equipment Advance); and 

(k) such other documents or certificates, and completion of such other matters, as Bank may reasonably deem necessary or
appropriate. 
 3.2 Conditions Precedent to all Credit Extensions. The obligation of Bank to make each
Credit Extension, including the initial Credit Extension, is further subject to the following conditions: 
 (a)
timely receipt by Bank of the Payment/Advance Form as provided in Section 2.1; and 

  
 14 

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

4. CREATION OF SECURITY INTEREST. 
 4.1 Grant of Security Interest. Borrower grants and pledges to Bank a continuing security interest in the Collateral to secure prompt repayment of any and all Obligations and in order to secure
prompt performance by Borrower of each of its covenants and duties under the Loan Documents. Except as set forth in the Schedule, such security interest constitutes a valid, first priority security interest in the presently existing Collateral, and
will constitute a valid, first priority security interest in later-acquired Collateral. Borrower also hereby agrees to not sell, transfer, assign, mortgage, pledge, lease, grant a security interest in, or encumber any of its intellectual property.
Notwithstanding any termination, Bank’s Lien on the Collateral shall remain in effect for so long as any Obligations (other than inchoate indemnity obligations) are outstanding. 

4.2 Perfection of Security Interest. Borrower authorizes Bank to file at any time financing statements,
continuation statements, and amendments thereto that (i) either specifically describe the Collateral or describe the Collateral as all assets of Borrower of the kind pledged hereunder, and (ii) contain any other information required by the
Code for the sufficiency of filing office acceptance of any financing statement, continuation statement, or amendment, including whether Borrower is an organization, the type of organization and any organizational identification number issued to
Borrower, if applicable. Any such financing statements may be signed by Bank on behalf of Borrower, as provided in the Code, and may be filed at any time in any jurisdiction whether or not Revised Article 9 of the Code is then in effect in that
jurisdiction. Borrower shall from time to time endorse and deliver to Bank, at the request of Bank, all Negotiable Collateral and other documents that Bank may reasonably request, in form satisfactory to Bank, to perfect and continue perfected
Bank’s security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower shall have possession of the Collateral, except where expressly otherwise provided in this
Agreement or where Bank chooses to perfect its security interest by possession in addition to the filing of a financing statement. Where Collateral is in possession of a third party bailee, Borrower shall take such steps as Bank reasonably requests
for Bank to (i) obtain an acknowledgment, in form and substance satisfactory to Bank, of the bailee that the bailee holds such Collateral for the benefit of Bank, (ii) obtain “control” of any Collateral consisting of investment
property, deposit accounts, letter-of-credit rights or electronic chattel paper (as such items and the term “control” are defined in Revised Article 9 of the Code) by causing the securities intermediary or depositary institution or issuing
bank to execute a control agreement in form and substance satisfactory to Bank. Borrower will not create any chattel paper without placing a legend on the chattel paper acceptable to Bank indicating that Bank has a security

  
 15 

 
interest in the chattel paper. Borrower from time to time may deposit with Bank specific cash collateral to secure specific Obligations; Borrower authorizes Bank to hold such specific balances in
pledge and to decline to honor any drafts thereon or any request by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the specific Obligations are outstanding. 

4.3 Right to Inspect. Bank (through any of its officers, employees, or agents) shall have the right, upon
reasonable prior notice, from time to time during Borrower’s usual business hours but no more than twice a year (unless an Event of Default has occurred and is continuing), to inspect Borrower’s Books and to make copies thereof and to
check, test, 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. 

4.4 Lock Box Account. 
 (a) Borrower shall direct all customers to mail or deliver all checks or other forms of payment for amounts owing to Borrower to a post office box designated by Bank (the “Lockbox”), over which
Bank shall have exclusive and unrestricted access. As of the Closing Date, Borrower shall open the Lockbox, and thereafter Borrower shall at all times maintain the Lockbox with Bank in accordance with the terms hereof. All funds received by Borrower
from customers shall immediately be directed to the Lockbox. Bank shall collect the mail delivered to such post office box, open such mail, and endorse and credit all items to the Lockbox. Borrower shall hold in trust for Bank all amounts that
Borrower receives despite the directions to make payments to the post office box or Lockbox, and immediately deliver such payments to Bank in their original form as received from the customer, with proper endorsements for processing through the
Lockbox. Borrower irrevocably authorizes Bank to transfer to the Lockbox any funds that have been deposited into any other accounts or that Bank has received by wire transfer, check, cash, or otherwise. 

(b) All funds flowing through the Lockbox shall automatically be transferred into a cash collateral account at Bank in
Borrower’s name (the “Cash Collateral Account”), over which Bank shall have exclusive and unrestricted access. Bank shall have all right, title and interest in all of the items from time to time flowing through the Lockbox and/or held
in the Cash Collateral Account and their proceeds. Neither Borrower nor any Person claiming through Borrower shall have any right or control over the use of, or any right to withdraw any amount from, the Lockbox and/or the Cash Collateral Account,
each of which shall be under the sole control of Bank. Borrower shall direct all customers or other persons owing money to Borrower who make payments by electronic transfer of funds to wire such funds directly to the Cash Collateral Account.

 (c) Borrower shall open an operating account or operating accounts at Bank (collectively, the “Operating
Account”), and, so long as no Event of Default has occurred which is continuing, any amounts in the Cash Collateral Account shall be transferred by Bank to the Operating Account. During the continuance of an Event of Default, Bank may apply all
or any part of the amounts in the Cash Collateral Account to the Obligations as Bank may determine in its sole discretion. 

  
 16 

 5. REPRESENTATIONS AND WARRANTIES. 

Borrower represents and warrants as follows: 

5.1 Due Organization and Qualification. Borrower and each Subsidiary is duly existing under the laws of the state
in which it is organized and qualified and licensed to do business in any state in which the conduct of its business or its ownership of property requires that it be so qualified, except where the failure to do so could not reasonably be expected to
cause a Material Adverse Effect. 
 5.2 Due Authorization; No Conflict. The execution, delivery, and
performance of the Loan Documents are within Borrower’s powers, have been duly authorized, and are not in conflict with nor constitute a breach of any provision contained in Borrower’s Certificate of Incorporation or Bylaws, nor will they
constitute an event of default under any material agreement by which Borrower is bound. Borrower is not in default under any agreement by which it is bound, except to the extent such default could not reasonably be expected to cause a Material
Adverse Effect. 
 5.3 Collateral. Borrower has rights in or the power to transfer the Collateral, and its
title to the Collateral is free and clear of Liens, adverse claims, and restrictions on transfer or pledge except for Permitted Liens. All Collateral is located solely in the Collateral States. The Eligible Accounts are bona fide existing
obligations. The property or services giving rise to such Eligible Accounts has been delivered or rendered to the account debtor or its agent for immediate shipment to and unconditional acceptance by the account debtor. Borrower has not received
notice of actual or imminent Insolvency Proceeding of any account debtor whose accounts are included in any Borrowing Base Certificate as an Eligible Account. All Inventory is in all material respects of good and merchantable quality, free from all
material defects, except for Inventory for which adequate reserves have been made. Except as set forth in the Schedule, none of the Collateral is maintained or invested with a Person other than Bank or Bank’s Affiliates. 

5.4 Intellectual Property. Borrower is the sole owner of its patents, trademarks, copyrights and other intellectual
property, except for non-exclusive licenses granted by Borrower to its customers in the ordinary course of business. To the best of Borrower’s knowledge, each of Borrower’s patents, trademarks and copyrights is valid and enforceable, and
no part of its intellectual property has been judged invalid or unenforceable, in whole or in part, and no claim has been made to Borrower that any part of its intellectual property violates the rights of any third party except to the extent such
claim could not reasonably be expected to cause a Material Adverse Effect. 
 5.5 Name; Location of Chief
Executive Office. Except as disclosed in the Schedule, Borrower has not done business under any name other than that specified on the signature page hereof, and its exact legal name is as set forth in the first paragraph of this Agreement. The
chief executive office of Borrower is located in the Chief Executive Office State at the address indicated in Section 10 hereof. 

  
 17 

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

5.7 No Material Adverse Change in Financial Statements. All consolidated and consolidating financial statements
related to Borrower and any Subsidiary that are delivered by Borrower to Bank fairly present in all material respects Borrower’s consolidated and consolidating financial condition as of the date thereof and Borrower’s consolidated and
consolidating results of operations for the period then ended. There has not been a material adverse change in the consolidated or in the consolidating financial condition of Borrower since the date of the most recent of such financial statements
submitted to Bank. 
 5.8 Solvency, Payment of Debts. Borrower is able to pay its debts (including trade
debts) as they mature; the fair saleable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; and Borrower is not left with unreasonably small capital after the transactions
contemplated by this Agreement. 
 5.9 Compliance with Laws and Regulations. Borrower and each Subsidiary
have met the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. No event has occurred resulting from Borrower’s failure to comply with ERISA that is reasonably likely to result in Borrower’s
incurring any liability that could reasonably be expected to have a Material Adverse Effect. Borrower is not an “investment company” or a company “controlled” by an “investment company” within the meaning of the
Investment Company Act of 1940. Borrower is not engaged principally, or as one of the important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulations T and U of the
Board of Governors of the Federal Reserve System). Borrower has complied in all material respects with all the provisions of the Federal Fair Labor Standards Act. Borrower is in compliance with all environmental laws, regulations and ordinances
except where the failure to comply is not reasonably likely to have a Material Adverse Effect. Borrower has not violated any statutes, laws, ordinances or rules applicable to it, the violation of which could reasonably be expected to have a Material
Adverse Effect. Borrower and each Subsidiary have filed or caused to be filed all tax returns required to be filed, and have paid, or have made adequate provision for the payment of, all taxes reflected therein except those being contested in good
faith with adequate reserves under GAAP or where the failure to file such returns or pay such taxes could not reasonably be expected to have a Material Adverse Effect. 

5.10 Subsidiaries. Borrower does not own any stock, partnership interest or other equity securities of any Person,
except for Permitted Investments. 
 5.11 Government Consents. Borrower and each Subsidiary have obtained
all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all governmental authorities that are necessary for the continued operation of Borrower’s business as currently conducted, except
where the failure to do so could not reasonably be expected to cause a Material Adverse Effect. 

  
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 5.12 Inbound Licenses. Except as disclosed on the Schedule, Borrower
is not a party to, nor is bound by, any inbound license or other agreement with a value in excess of Fifty Thousand Dollars ($50,000) that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in
such license or agreement or any other property. 
 5.13 Full Disclosure. No representation, warranty or
other statement made by Borrower in any certificate or written statement furnished to Bank taken together with all such certificates and written statements furnished to Bank contains any untrue statement of a material fact or omits to state a
material fact necessary in order to make the statements contained in such certificates or statements not misleading it being recognized by Bank that the projections and forecasts provided by Borrower in good faith and based upon reasonable
assumptions are not to be viewed as facts and that actual results during the period or periods covered by any such projections and forecasts may differ from the projected or forecasted results. 

6. AFFIRMATIVE COVENANTS. 
 Borrower covenants and agrees that, until payment in full of all outstanding Obligations, and for so long as Bank may have any commitment to make a Credit Extension hereunder, Borrower shall do all of the
following: 
 6.1 Good Standing and Government Compliance. Borrower shall maintain its and each of its
Subsidiaries’ corporate existence and good standing in the Borrower State, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse
Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the state in which Borrower is organized, if applicable. Borrower shall meet, and shall cause each Subsidiary to meet, the minimum
funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Borrower shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required
thereunder where the failure to do so could reasonably be expected to have a Material Adverse Effect. Borrower shall comply, and shall cause each Subsidiary to comply, with all statutes, laws, ordinances and government rules and regulations to which
it is subject, and shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, the loss of which or failure to comply with which could reasonably be expected to have a Material Adverse
Effect. 
 6.2 Financial Statements, Reports, Certificates. Borrower shall deliver the following to Bank:
(i) as soon as available, but in any event within twenty (20) days after the end of each calendar month, a company prepared consolidated and consolidating balance sheet and income statement covering Borrower’s operations during such
period prepared in accordance with GAAP, in a form reasonably acceptable to Bank and certified by a Responsible Officer and a report of orders and backlogs; (ii) as soon as available, but in any event no later than August 31 of each year,
audited consolidated and consolidating financial statements of Borrower prepared in accordance with GAAP, consistently applied, together with an opinion which is unqualified or otherwise consented to in writing by Bank on such financial statements
of an independent certified public accounting firm reasonably acceptable to Bank; (iii) if applicable, copies of all statements, reports and notices sent or made available generally by Borrower to its security

  
 19 

 
holders or to any holders of Subordinated Debt and all reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission; (iv) promptly upon receipt of notice thereof, a
report of any legal actions pending or threatened against Borrower or any Subsidiary that could result in damages or costs to Borrower or any Subsidiary of Two Hundred Fifty Thousand Dollars ($250,000) or more; (v) promptly upon receipt, each
management letter prepared by Borrower’s independent certified public accounting firm regarding Borrower’s management control systems; and (vi) such budgets, sales projections, operating plans or other financial information as Bank
may reasonably request from time to time, including, as soon as available, but any event no later than forty five (45) days prior to the end of Borrower’s fiscal year, annual financial projections approved by Borrower’s board of
directors. 
 (a) Within twenty (20) days after the last day of each month, Borrower shall deliver to Bank a
Borrowing Base Certificate signed by a Responsible Officer in substantially the form of Exhibit C hereto, together with aged listings by invoice date of accounts receivable and accounts payable; provided however if the outstanding amount of Advances
is greater than Two Million Five Hundred Thousand Dollars ($2,500,000), the Borrowing Base Certificate and aged listings by invoice date of accounts receivable and accounts payable shall be delivered no later than the fifteenth (15th) and
thirtieth (30th) days of each month. 
 (b) Within twenty (20) days after the last day of each month,
Borrower shall deliver to Bank with the monthly financial statements a Compliance Certificate certified as of the last day of the applicable month and signed by a Responsible Officer in substantially the form of Exhibit D hereto. 

(c) As soon as possible and in any event within three (3) calendar days after becoming aware of the occurrence or
existence of an Event of Default hereunder, a written statement of a Responsible Officer setting forth details of the Event of Default, and the action which Borrower has taken or proposes to take with respect thereto. 

(d) Bank shall have a right from time to time hereafter to audit Borrower’s Accounts and appraise Collateral at
Borrower’s expense, provided that such audits will be conducted no more often than every six (6) months unless an Event of Default has occurred and is continuing. 
 Borrower may deliver to Bank on an electronic basis any certificates, reports or information required pursuant to this Section 6.2, and Bank shall be entitled to rely on the information contained in
the electronic files, provided that Bank in good faith believes that the files were delivered by a Responsible Officer. If Borrower delivers this information electronically, it shall also deliver to Bank by U.S. Mail, reputable overnight courier
service, hand delivery, facsimile or .pdf file within five (5) Business Days of submission of the unsigned electronic copy the certification of monthly financial statements, the Borrowing Base Certificate and the Compliance Certificate, each
bearing the physical signature of the Responsible Officer. 
 6.3 Inventory; Returns. Borrower shall keep
all Inventory in good and merchantable condition, free from all material defects except for Inventory for which adequate reserves have been made. Returns and allowances, if any, as between Borrower and its account debtors shall be on the same basis
and in accordance with the usual customary practices of 

  
 20 

 
Borrower, as they exist on the Closing Date. Borrower shall promptly notify Bank of all returns and recoveries and of all disputes and claims involving more than Two Hundred Fifty Thousand
Dollars ($250,000). 
 6.4 Taxes. Borrower shall make, and cause each Subsidiary to make, due and timely
payment or deposit of all material federal, state, and local taxes, assessments, or contributions required of it by law, including, but not limited to, those laws concerning income taxes, F.I.C.A., F.U.T.A. and state disability, and will execute and
deliver to Bank, on demand, proof satisfactory to Bank indicating that Borrower or a Subsidiary has made such payments or deposits and any appropriate certificates attesting to the payment or deposit thereof; provided that Borrower or a Subsidiary
need not make any payment if the amount or validity of such payment is contested in good faith by appropriate proceedings and is reserved against (to the extent required by GAAP) by Borrower. 

6.5 Insurance. 
 (a) Borrower, at its expense, shall keep the Collateral insured against loss or damage by fire, theft, explosion, sprinklers, and all other hazards and risks, and in such amounts, as ordinarily insured
against by other owners in similar businesses conducted in the locations where Borrower’s business is conducted on the date hereof. Borrower shall also maintain liability and other insurance in amounts and of a type that are customary to
businesses similar to Borrower’s. 
 (b) All such policies of insurance shall be in such form, with such
companies, and in such amounts as are reasonably satisfactory to Bank. All policies of property insurance shall contain a lender’s loss payable endorsement, in a form satisfactory to Bank, showing Bank as an additional loss payee, and all
liability insurance policies shall show the Bank as an additional insured and shall specify that the insurer must give at least 20 days notice to Bank before canceling its policy for any reason. Upon Bank’s request, Borrower shall deliver to
Bank certified copies of the policies of insurance and evidence of all premium payments. If no Event of Default has occurred and is continuing, proceeds payable under any casualty policy will, at Borrower’s option, be payable to Borrower to
replace the property subject to the claim or to purchase other property useful to Borrower’s business, provided that any such replacement property shall be deemed Collateral in which Bank has been granted a first priority security interest. If
an Event of Default has occurred and is continuing, all proceeds payable under any such policy shall, at Bank’s option, be payable to Bank to be applied on account of the Obligations. 

6.6 Accounts. Borrower shall maintain all its depository and operating accounts with Bank, and all its investment
accounts with Bank or Bank’s Affiliates subject to account control agreements in favor of Bank. 
 6.7
Financial Covenants. Borrower shall at all times maintain the following financial ratios and covenants: 

(a) Adjusted Quick Ratio. Borrower shall at all times, measured on a monthly basis, maintain a ratio of Cash held
at Bank or at Bank’s Affiliates subject to account 

  
 21 

 
control agreements in favor of Bank plus Eligible Accounts to Current Liabilities plus (to the extent not already included therein) all Indebtedness to Bank (excluding any amounts outstanding
under the ACH Sublimit) less the current portion of Deferred Revenue of at least 1.10 to 1.00. 
 (b) Net
Income. Quarterly Net Income of not less than the following: 
  

					
	 Measuring Period
	  	Minimum Net Income	 
	 Quarter Ending 3/31/09
	  	 	($1,750,000	) 
	 Quarter Ending 6/30/09
	  	 	($1,150,000	) 
	 Quarter Ending 9/30/09
	  	 	($475,000	) 
	 Quarter Ending 12/31/09
	  	 	$250,000	  

 Bank and Borrower shall mutually agree upon Quarterly Net Income levels for 2010 on or
prior to December 31, 2009. 
 6.8 Consent of Inbound Licensors. Prior to entering into or becoming
bound by any inbound license or agreement with a value in excess of Fifty Thousand Dollars ($50,000), Borrower shall provide written notice to Bank of the material terms of such license or agreement with a description of its likely impact on
Borrower’s business or financial condition. 
 6.9 Creation/Acquisition of Subsidiaries. In the event
Borrower or any Subsidiary creates or acquires any Subsidiary, Borrower and such Subsidiary shall promptly notify Bank of the creation or acquisition of such new Subsidiary and take all such action as may be reasonably required by Bank to cause such
Subsidiary to guarantee the Obligations of Borrower under the Loan Documents and grant a continuing pledge and security interest in and to the collateral of such Subsidiary (substantially as described on Exhibit A hereto), and Borrower shall grant
and pledge to Bank a perfected security interest in the stock, units or other evidence of ownership of such Subsidiary. 
 6.10 Further Assurances. At any time and from time to time Borrower shall execute and deliver such further instruments and take such further action as may reasonably be requested by Bank to effect
the purposes of this Agreement. 
 7. NEGATIVE COVENANTS. 

Borrower covenants and agrees that, so long as any credit hereunder shall be available and until the outstanding
Obligations are paid in full or for so long as Bank may have any commitment to make any Credit Extensions, Borrower will not do any of the following without Bank’s prior written consent, which shall not be unreasonably withheld: 

7.1 Dispositions. Convey, sell, lease, license, transfer or otherwise dispose of (collectively, to
“Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its 

  
 22 

 
business or property, including its intellectual property, or move cash balances on deposit with Bank to accounts opened at another financial institution, other than Permitted Transfers.

 7.2 Change in Name, Location, Executive Office, or Executive Management; Change in Business; Change in
Fiscal Year; Change in Control. Change its name or the Borrower State or relocate its chief executive office without thirty (30) days prior written notification to Bank; replace its chief executive officer or chief financial officer without
thirty (30) days prior written notification to Bank; engage in any business, or permit any of its Subsidiaries to engage in any business, other than or reasonably related or incidental to the businesses currently engaged in by Borrower; change
its fiscal year end; suffer or permit a Change in Control. 
 7.3 Mergers or Acquisitions. Merge or
consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other business organization (other than mergers or consolidations of a Subsidiary into another Subsidiary or into Borrower), or acquire, or permit any of its
Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person except where (i) such transactions do not in the aggregate exceed Two Hundred Fifty Thousand Dollars ($250,000) during any fiscal year,
(ii) no Event of Default has occurred, is continuing or would exist after giving effect to such transactions, (iii) such transactions do not result in a Change in Control, and (iv) Borrower is the surviving entity. 

7.4 Indebtedness. Create, incur, assume, guarantee or be or remain liable with respect to any Indebtedness, or
permit any Subsidiary so to do, other than Permitted Indebtedness, or prepay any Indebtedness or take any actions which impose on Borrower an obligation to prepay any Indebtedness, except Indebtedness to Bank. 

7.5 Encumbrances. Create, incur, assume or allow any Lien with respect to any of its property, or assign or
otherwise convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries so to do, except for Permitted Liens. Agree with any Person other than Bank not to grant a security interest in, or otherwise
encumber, any of its, or covenant to any other Person that Borrower in the future will refrain from creating, incurring, assuming or allowing any Lien with respect to any of Borrower’s property, or permit any Subsidiary to do so. 

7.6 Distributions. Pay any dividends or make any other distribution or payment on account of or in redemption,
retirement or purchase of any capital stock, except that Borrower may (i) repurchase the stock of former employees, consultants or contractors pursuant to stock repurchase agreements as long as an Event of Default does not exist prior to such
repurchase or would not exist after giving effect to such repurchase, and (ii) repurchase the stock of former employees, consultants or contractors pursuant to stock repurchase agreements by the cancellation of indebtedness owed by such former
employees, consultants or contractors to Borrower regardless of whether an Event of Default exists. 
 7.7
Investments. Directly or indirectly acquire or own, or make any Investment in or to any Person, or permit any of its Subsidiaries so to do, other than Permitted Investments, or maintain or invest any of its property with a Person other than
Bank or Bank’s Affiliates or permit any Subsidiary to do so unless such Person has entered into a control 

  
 23 

 
agreement with Bank, in form and substance satisfactory to Bank, or 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. 
 7.8 Transactions with Affiliates. Directly or
indirectly enter into or permit to exist any material transaction with any Affiliate of Borrower except for transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to
Borrower than would be obtained in an arm’s length transaction with a non-affiliated Person. 
 7.9
Subordinated Debt. Make any payment in respect of any Subordinated Debt, or permit any of its Subsidiaries to make any such payment, except in compliance with the terms of such Subordinated Debt, or amend any provision affecting Bank’s
rights contained in any documentation relating to the Subordinated Debt without Bank’s prior written consent. 
 7.10 Inventory and Equipment. Store the Inventory or the Equipment with a bailee, warehouseman, or similar third party unless the third party has been notified of Bank’s security interest and
Bank (a) has received an acknowledgment from the third party that it is holding or will hold the Inventory or Equipment for Bank’s benefit or (b) is in possession of the warehouse receipt, where negotiable, covering such Inventory or
Equipment. Except for Inventory sold in the ordinary course of business, computers, computer accessories, demo kits and other office equipment held by Borrower’s employees and except for such other locations as Bank may approve in writing,
Borrower shall keep the Inventory and Equipment only at the location set forth in Section 10 and such other locations of which Borrower gives Bank prior written notice and as to which Bank files a financing statement, or takes other action,
where needed to perfect its security interest. 
 7.11 No Investment Company; Margin Regulation. Become or
be controlled by an “investment company,” within the meaning of the Investment Company Act of 1940, or become principally engaged in, or undertake as one of its important activities, the business of extending credit for the purpose of
purchasing or carrying margin stock, or use the proceeds of any Credit Extension for such purpose. 
 8. EVENTS OF
DEFAULT. 
 Any one or more of the following events shall constitute an Event of Default by Borrower under
this Agreement: 
 8.1 Payment Default. If Borrower fails to pay any of the Obligations when due;

 8.2 Covenant Default. 

(a) If Borrower fails to perform any obligation under Section 6.2, 6.4, 6.5, 6.6 and 6.7 or violates any of the
covenants contained in Article 7 of this Agreement; or 
 (b) If Borrower fails or neglects to perform or observe
any other material term, provision, condition, covenant contained in this Agreement, in any of the Loan 

  
 24 

 
Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to
cure such default within ten (10) days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot
after diligent attempts by Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed thirty
(30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made; 

8.3 Defective Perfection. If Bank shall receive at any time following the Closing Date an SOS Report indicating
that except for Permitted Liens, Bank’s security interest in the Collateral is not prior to all other security interests or Liens of record reflected in such SOS Report; 

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

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

8.7 Other Agreements. If there is a default or other failure to perform in any agreement to which Borrower is a
party with a third party or parties resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of Two Hundred Fifty Thousand Dollars ($250,000) or that could
reasonably be expected to have a Material Adverse Effect; 
 8.8 Subordinated Debt. If Borrower makes any
payment on account of Subordinated Debt, except to the extent such payment is allowed under any subordination agreement entered into with Bank; 

  
 25 

 8.9 Judgments. If a judgment or judgments for the payment of money in
an amount, individually or in the aggregate, of at least Two Hundred Fifty Thousand Dollars ($250,000) shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period of ten (10) days (provided that no Credit
Extensions will be made prior to the satisfaction or stay of such judgment); or 
 8.10
Misrepresentations. If any material misrepresentation or material misstatement exists now or hereafter in any warranty or representation set forth herein or in any certificate delivered to Bank by any Responsible Officer pursuant to this
Agreement or to induce Bank to enter into this Agreement or any other Loan Document. 
 9. BANK’S RIGHTS AND
REMEDIES. 
 9.1 Rights and Remedies. Upon the occurrence and during the continuance of an Event of
Default, Bank may, at its election, without notice of its election and without demand, do any one or more of the following, all of which are authorized by Borrower: 

(a) Declare all Obligations, whether evidenced by this Agreement, by any of the other Loan Documents, or otherwise,
immediately due and payable (provided that upon the occurrence of an Event of Default described in Section 8.6, all Obligations shall become immediately due and payable without any action by Bank); 

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

(f) Set off and apply to the Obligations any and all (i) balances and deposits of Borrower held by Bank, and
(ii) indebtedness at any time owing to or for the credit or the account of Borrower held by Bank; 

  
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 (g) Ship, reclaim, recover, store, finish, maintain, repair, prepare for
sale, advertise for sale, and sell (in the manner provided for herein) the Collateral. Bank is hereby granted a license or other right, solely pursuant to the provisions of this Section 9.1, to use, without charge, Borrower’s labels,
patents, copyrights, rights of use of any name, trade secrets, trade names, trademarks, service marks, and advertising matter, or any property of a similar nature, as it pertains to the Collateral, in completing production of, advertising for sale,
and selling any Collateral and, in connection with Bank’s exercise of its rights under this Section 9. 1, Borrower’s rights under all licenses and all franchise agreements shall inure to Bank’s benefit; 

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

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

 Bank may comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and compliance will
not be considered adversely to affect the commercial reasonableness of any sale of the Collateral. 
 9.2
Power of Attorney. Effective only upon the occurrence and during the continuance of an Event of Default, Borrower hereby irrevocably appoints Bank (and any of Bank’s designated officers, or employees) as Borrower’s true and lawful
attorney to: (a) send requests for verification of Accounts or notify account debtors of Bank’s security interest in the Accounts; (b) endorse Borrower’s name on any checks or other forms of payment or security that may come into
Bank’s possession; (c) sign Borrower’s name on any invoice or bill of lading relating to any Account, drafts against account debtors, schedules and assignments of Accounts, verifications of Accounts, and notices to account debtors;
(d) dispose of any Collateral; (e) make, settle, and adjust all claims under and decisions with respect to Borrower’s policies of insurance; (f) settle and adjust disputes and claims respecting the accounts directly with account
debtors, for amounts and upon terms which Bank determines to be reasonable; and (g) to file, in its sole 

  
 27 

 
discretion, one or more financing or continuation statements and amendments thereto, relative to any of the Collateral without the signature of Borrower where permitted by law; provided Bank may
exercise such power of attorney to sign the name of Borrower on any of the documents described in clause (g) above, regardless of whether an Event of Default has occurred. The appointment of Bank as Borrower’s attorney in fact, and each
and every one of Bank’s rights and powers, being coupled with an interest, is irrevocable until all of the Obligations have been fully repaid and performed and Bank’s obligation to provide Credit Extensions hereunder is terminated.

 9.3 Accounts Collection. At any time after the occurrence and during the continuance of an Event of
Default, Bank may notify any Person owing funds to Borrower of Bank’s security interest in such funds and verify the amount of such Account. Borrower shall collect all amounts owing to Borrower for Bank, receive in trust all payments as
Bank’s trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit. 

9.4 Bank Expenses. If Borrower fails to pay any amounts or furnish any required proof of payment due to third
persons or entities, as required under the terms of this Agreement, then Bank may do any or all of the following after reasonable notice to Borrower: (a) make payment of the same or any part thereof; (b) set up such reserves under the
Revolving Line as Bank deems necessary to protect Bank from the exposure created by such failure; or (c) obtain and maintain insurance policies of the type discussed in Section 6.5 of this Agreement, and take any action with respect to
such policies as Bank deems prudent. Any amounts so paid or deposited by Bank shall constitute Bank Expenses, shall be immediately due and payable, and shall bear interest at the then applicable rate hereinabove provided, and shall be secured by the
Collateral. Any payments made by Bank shall not constitute an agreement by Bank to make similar payments in the future or a waiver by Bank of any Event of Default under this Agreement. 

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

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

  
 28 

 
expressly agrees that this Section may not be waived or modified by Bank by course of performance, conduct, estoppel or otherwise. 

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

10. NOTICES. 
 Unless otherwise provided in this Agreement, all notices or demands by any party relating to this Agreement or any other agreement entered into in connection herewith shall be in writing and (except for
financial statements and other informational documents which may be sent by first-class mail, postage prepaid) shall be personally delivered or sent by a recognized overnight delivery service, certified mail, postage prepaid, return receipt
requested, or by telefacsimile to Borrower or to Bank, as the case may be, at its addresses set forth below: 
  

			
	 If to Borrower:    
	  	 VOCERA COMMUNICATIONS, INC.

		  	 525 Race St, Suite 150

		  	 San Jose, CA 95126

		  	 Attn: CFO

		  	 FAX: (408) 882-5901

		
	 If to Bank:
	  	 Comerica Bank

		  	 75 East Trimble Road, M/C 4770

		  	 San Jose, California 95131

		  	 Attn: Manager

		  	 FAX: (408) 556-5091

		
	 with a copy to:
	  	 Comerica Bank

		  	 226 Airport Parkway, Suite 100

		  	 San Jose, CA 95110

		  	 Attn: Chris Benioff

		  	 FAX: (408) 451-8568

 The parties hereto may change the address at which they are to receive notices hereunder, by notice in
writing in the foregoing manner given to the other. 
 11. CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER. 

This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of California, without regard to
principles of conflicts of law. Each of Borrower and Bank hereby submits to the exclusive jurisdiction of the state and Federal courts located in the State of California. THE UNDERSIGNED ACKNOWLEDGE THAT THE RIGHT TO TRIAL BY JURY IS A
CONSTITUTIONAL ONE, BUT THAT IT MAY BE WAIVED UNDER CERTAIN CIRCUMSTANCES. TO THE EXTENT PERMITTED BY LAW, EACH PARTY, AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS, HIS OR HER CHOICE, KNOWINGLY AND VOLUNTARILY, AND
FOR THE MUTUAL BENEFIT OF ALL PARTIES, WAIVES ANY 

  
 29 

 
RIGHT TO TRIAL BY JURY IN THE EVENT OF LITIGATION ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY OTHER DOCUMENT, INSTRUMENT OR AGREEMENT BETWEEN THE UNDERSIGNED PARTIES. 

12. REFERENCE PROVISION. 
 In the event the Jury Trial Waiver set forth above is not enforceable, the parties elect to proceed under this Judicial Reference Provision. 

12.1 Mechanics. 
 (a) With the exception of the items specified in clause (b), below, any controversy, dispute or claim (each, a “Claim”) between the parties arising out of or relating to this Agreement or any
other document, instrument or agreement between the undersigned parties (collectively in this Section, the “Comerica Documents”), will be resolved by a reference proceeding in California in accordance with the provisions of Sections 638 et
seq. of the California Code of Civil Procedure (“CCP”), or their successor sections, which shall constitute the exclusive remedy for the resolution of any Claim, including whether the Claim is subject to the reference proceeding. Except as
otherwise provided in the Comerica Documents, venue for the reference proceeding will be in the state or federal court in the county or district where the real property involved in the action, if any, is located or in the state or federal court in
the county or district where venue is otherwise appropriate under applicable law (the “Court”). 
 (b)
The matters that shall not be subject to a reference are the following: (i) nonjudicial foreclosure of any security interests in real or personal property, (ii) exercise of self-help remedies (including, without limitation, set-off),
(iii) appointment of a receiver and (iv) temporary, provisional or ancillary remedies (including, without limitation, writs of attachment, writs of possession, temporary restraining orders or preliminary injunctions). This reference
provision does not limit the right of any party to exercise or oppose any of the rights and remedies described in clauses (i) and (ii) or to seek or oppose from a court of competent jurisdiction any of the items described in clauses
(iii) and (iv). The exercise of, or opposition to, any of those items does not waive the right of any party to a reference pursuant to this reference provision as provided herein. 

(c) The referee shall be a retired judge or justice selected by mutual written agreement of the parties. If the parties do
not agree within ten (10) days of a written request to do so by any party, then, upon request of any party, the referee shall be selected by the Presiding Judge of the Court (or his or her representative). A request for appointment of a referee
may be heard on an ex parte or expedited basis, and the parties agree that irreparable harm would result if ex parte relief is not granted. Pursuant to CCP § 170.6, each party shall have one peremptory challenge to the referee selected by the
Presiding Judge of the Court (or his or her representative). 
 (d) The parties agree that time is of the essence
in conducting the reference proceedings. Accordingly, the referee shall be requested, subject to change in the time periods specified herein for good cause shown, to (i) set the matter for a status and trial-setting conference within fifteen
(15) days after the date of selection of the referee, (ii) if practicable, try 

  
 30 

 
all issues of law or fact within one hundred twenty (120) days after the date of the conference and (iii) report a statement of decision within twenty (20) days after the matter
has been submitted for decision. 
 (e) The referee will have power to expand or limit the amount and duration of
discovery. The referee may set or extend discovery deadlines or cutoffs for good cause, including a party’s failure to provide requested discovery for any reason whatsoever. Unless otherwise ordered based upon good cause shown, no party shall
be entitled to “priority” in conducting discovery, depositions may be taken by either party upon seven (7) days written notice, and all other discovery shall be responded to within fifteen (15) days after service. All disputes
relating to discovery which cannot be resolved by the parties shall be submitted to the referee whose decision shall be final and binding. 
 12.2 Procedures. Except as expressly set forth herein, the referee shall determine the manner in which the reference proceeding is conducted including the time and place of hearings, the order of
presentation of evidence, and all other questions that arise with respect to the course of the reference proceeding. All proceedings and hearings conducted before the referee, except for trial, shall be conducted without a court reporter, except
that when any party so requests, a court reporter will be used at any hearing conducted before the referee, and the referee will be provided a courtesy copy of the transcript. The party making such a request shall have the obligation to arrange for
and pay the court reporter. Subject to the referee’s power to award costs to the prevailing party, the parties will equally share the cost of the referee and the court reporter at trial. 

12.3 Application of Law. The referee shall be required to determine all issues in accordance with existing case law
and the statutory laws of the State of California. The rules of evidence applicable to proceedings at law in the State of California will be applicable to the reference proceeding. The referee shall be empowered to enter equitable as well as legal
relief, enter equitable orders that will be binding on the parties and rule on any motion which would be authorized in a court proceeding, including without limitation motions for summary judgment or summary adjudication. The referee shall issue a
decision at the close of the reference proceeding which disposes of all claims of the parties that are the subject of the reference. Pursuant to CCP § 644, such decision shall be entered by the Court as a judgment or an order in the same manner
as if the action had been tried by the Court and any such decision will be final, binding and conclusive. The parties reserve the right to appeal from the final judgment or order or from any appealable decision or order entered by the referee. The
parties reserve the right to findings of fact, conclusions of laws, a written statement of decision, and the right to move for a new trial or a different judgment, which new trial, if granted, is also to be a reference proceeding under this
provision. 
 12.4 Repeal. If the enabling legislation which provides for appointment of a referee is
repealed (and no successor statute is enacted), any dispute between the parties that would otherwise be determined by reference procedure will be resolved and determined by arbitration. The arbitration will be conducted by a retired judge or
justice, in accordance with the California Arbitration Act § 1280 through § 1294.2 of the CCP as amended from time to time. The limitations with respect to discovery set forth above shall apply to any such arbitration proceeding.

  
 31 

 12.5 THE PARTIES RECOGNIZE AND AGREE THAT ALL CONTROVERSIES, DISPUTES AND
CLAIMS RESOLVED UNDER THIS REFERENCE PROVISION WILL BE DECIDED BY A REFEREE AND NOT BY A JURY. AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS, HIS OR HER OWN CHOICE, EACH PARTY KNOWINGLY AND VOLUNTARILY, AND FOR THE
MUTUAL BENEFIT OF ALL PARTIES, AGREES THAT THIS REFERENCE PROVISION WILL APPLY TO ANY CONTROVERSY, DISPUTE OR CLAIM BETWEEN OR AMONG THEM ARISING OUT OF OR IN ANY WAY RELATED TO, THIS AGREEMENT OR THE OTHER COMERICA DOCUMENTS. 

13. GENERAL PROVISIONS. 
 13.1 Successors and Assigns. This Agreement shall bind and inure to the benefit of the respective successors and permitted assigns of each of the parties and shall bind all Persons who become bound
as a debtor to this Agreement; provided, however, that neither this Agreement nor any rights hereunder may be assigned by Borrower without Bank’s prior written consent, which consent may be granted or withheld in Bank’s sole discretion.
Bank shall have the right without the consent of or notice to Borrower to sell, transfer, negotiate, or grant participation in all or any part of, or any interest in, Bank’s obligations, rights and benefits hereunder. 

13.2 Indemnification. Borrower shall defend, indemnify and hold harmless Bank and its officers, employees, and
agents against: (a) all obligations, demands, claims, and liabilities claimed or asserted by any other party in connection with the transactions contemplated by this Agreement; and (b) all losses or Bank Expenses in any way suffered,
incurred, or paid by Bank, its officers, employees and agents as a result of or in any way arising out of, following, or consequential to transactions between Bank and Borrower whether under this Agreement, or otherwise (including without limitation
reasonable attorneys’ fees and expenses), except for losses caused by Bank’s gross negligence or willful misconduct. 
 13.3 Time of Essence. Time is of the essence for the performance of all obligations set forth in this Agreement. 

13.4 Severability of Provisions. Each provision of this Agreement shall be severable from every other provision of
this Agreement for the purpose of determining the legal enforceability of any specific provision. 
 13.5
Amendments in Writing, Integration. All amendments to or terminations of this Agreement or the other Loan Documents must be in writing. All prior agreements, understandings, representations, warranties, and negotiations between the parties
hereto with respect to the subject matter of this Agreement and the other Loan Documents, if any, are merged into this Agreement and the Loan Documents. 
 13.6 Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be
an original, and all of which, when taken together, shall constitute but one and the same Agreement. 

  
 32 

 13.7 Survival. All covenants, representations and warranties made in
this Agreement shall continue in full force and effect so long as any Obligations remain outstanding or Bank has any obligation to make any Credit Extension to Borrower. The obligations of Borrower to indemnify Bank with respect to the expenses,
damages, losses, costs and liabilities described in Section 13.2 shall survive until all applicable statute of limitations periods with respect to actions that may be brought against Bank have run. 

13.8 Confidentiality. In handling any confidential information, Bank and all employees and agents of Bank shall
exercise the same degree of care that Bank exercises with respect to its own proprietary information of the same types to maintain the confidentiality of any non-public information thereby received or received pursuant to this Agreement except that
disclosure of such information may be made (i) to the subsidiaries or Affiliates of Bank in connection with their present or prospective business relations with Borrower, (ii) to prospective transferees or purchasers of any interest in the
Loans, provided that they have entered into a comparable confidentiality agreement in favor of Borrower and have delivered a copy to Borrower, (iii) as required by law, regulations, rule or order, subpoena, judicial order or similar order,
(iv) as may be required in connection with the examination, audit or similar investigation of Bank and (v) as Bank may determine in connection with the enforcement of any remedies hereunder. Confidential information hereunder shall not
include information that either: (a) is in the public domain or in the knowledge or possession of Bank when disclosed to Bank, or becomes part of the public domain after disclosure to Bank through no fault of Bank; or (b) is disclosed to
Bank by a third party, provided Bank does not have actual knowledge that such third party is prohibited from disclosing such information. 
 13.9 Effect of Amendment and Restatement. Except as otherwise set forth herein, this Agreement is intended to and does completely amend and restate, without novation, the Original Agreement. All
security interests granted under the Original Agreement are hereby confirmed and ratified and shall continue to secure all Obligations under this Agreement. 
 [Balance of Page Intentionally Left Blank] 

  
 33 

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

			
	VOCERA COMMUNICATIONS, INC.
		
	By:	 	/s/ Martin J. Silver
	Title:	 	CFO

  

			
	COMERICA BANK
		
	By:	 	/s/ illegible
	Title:	 	SVP

 [Signature Page to Second Amended and Restated Loan and Security Agreement]

DEBTOR                        
                   VOCERA COMMUNICATIONS, INC. 
 SECURED PARTY:                         COMERICA BANK 

EXHIBIT A 

COLLATERAL DESCRIPTION ATTACHMENT 
 TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 
 All personal property
of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or hereafter created or acquired, and wherever located, including, but not limited to: 

(a) all accounts (including health-care-insurance receivables), chattel paper (including tangible and electronic chattel
paper), deposit accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), general intangibles (including payment intangibles and software), goods (including fixtures), instruments (including
promissory notes), inventory (including all goods held for sale or lease or to be furnished under a contract of service, and including returns and repossessions), investment property (including securities and securities entitlements), letter of
credit rights, money, and all of Debtor’s books and records with respect to any of the foregoing, and the computers and equipment containing said books and records; 

(b) all common law and statutory copyrights and copyright registrations, applications for registration, now existing or
hereafter arising, in the United States of America or in any foreign jurisdiction, obtained or to be obtained on or in connection with any of the foregoing, or any parts thereof or any underlying or component elements of any of the foregoing,
together with the right to copyright and all rights to renew or extend such copyrights and the right (but not the obligation) of Secured Party to sue in its own name and/or in the name of the Debtor for past, present and future infringements of
copyright; 
 (c) all trademarks, service marks, trade names and service names and the goodwill associated
therewith, together with the right to trademark and all rights to renew or extend such trademarks and the right (but not the obligation) of Secured Party to sue in its own name and/or in the name of the Debtor for past, present and future
infringements of trademark; 
 (d) all (i) patents and patent applications filed in the United States Patent
and Trademark Office or any similar office of any foreign jurisdiction, and interests under patent license agreements, including, without limitation, the inventions and improvements described and claimed therein, (ii) licenses pertaining to any
patent whether Debtor is licensor or licensee, (iii) income, royalties, damages, payments, accounts and accounts receivable now or hereafter due and/or payable under and with respect thereto, including, without limitation, damages and payments
for past, present or future infringements thereof, (iv) right (but not the obligation) to sue in the name of Debtor and/or in the name of Secured Party for past, present and future infringements thereof, (v) rights corresponding thereto
throughout the world in all jurisdictions in which such patents have been issued or applied for, and (vi) reissues, divisions, continuations, renewals, extensions and continuations-in-part with respect to any of the foregoing; and 

(e) any and all cash proceeds and/or noncash proceeds of any of the foregoing, including, without limitation, insurance
proceeds, and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the California Uniform Commercial Code, as amended or supplemented from time to time, including
revised Division 9 of the Uniform Commercial Code-Secured Transactions, added by Stats. 1999, c.991 (S.B. 45), Section 35, operative July 1, 2001. 
 Notwithstanding the foregoing, the Collateral shall not include any copyrights, patents, trademarks, servicemarks and applications therefor, now owned or hereafter acquired, or any claims for damages by
way of any past, present and future infringement of any of the foregoing (collectively, the “Intellectual Property”); provided, however, that the Collateral shall include all accounts and general intangibles that consist of rights to
payment and proceeds from the sale, licensing or disposition of all or any part, or rights in, the foregoing (the “Rights to Payment”). Notwithstanding the foregoing, if a judicial authority (including a U.S. Bankruptcy Court)

 
holds that a security interest in the underlying Intellectual Property is necessary to have a security interest in the Rights to Payment, then the Collateral shall automatically, and effective as
of January 30, 2009, include the Intellectual Property to the extent necessary to permit perfection of Bank’s security interest in the Rights to Payment. 

 EXHIBIT B 
 TECHNOLOGY & LIFE SCIENCES DIVISION 
 LOAN ANALYSIS

 LOAN ADVANCE/PAYDOWN REQUEST FORM 
 DEADLINE FOR SAME DAY PROCESSING IS [3:00* P.M., Pacific Time/ 3:30 P.M. Eastern Time] 
 FORMULA BASED LINES: DEADLINE FOR NEXT DAY PROCESSING IS [3:00* P.M., Pacific Time/ 3:30 P.M. Eastern Time] 
 DEADLINE FOR EQUIPMENT ADVANCES IS [3:00 P.M., Pacific Time/ 3:30 P.M. Eastern Time ]** 
 DEADLINE FOR WIRE TRANSFERS IS [1:30 P.M., Pacific Time/ 3:30 P.M. Eastern Time] 

[*At month end and the day before a holiday, the cut off time is 1:30 P.M., Pacific Time] 

**Subject to 3 day advance notice. 
  

					
	 To: Loan Analysis
	  	DATE:
                                    	  	TIME:
                                    
	 FAX #: (650) 846-6840
	  		  	

  

					
	 FROM:
	 	VOCERA COMMUNICATIONS, INC.	  	TELEPHONE REQUEST (For Bank Use Only):
		 	 	  	
		 	Borrower’s Name	  	
	 FROM:
	 	 	  	  
 The following person is authorized to request the
loan payment transfer/loan advance on the designated account and is known to me.

		 	Authorized Signer’s Name	  
	 FROM:
	 	 	  	 
		 	Authorized Signer’s Name	  	Authorized Request & Phone #
	 PHONE #:
	 	 	  	 
		 		  	Received by (Bank) & Phone #
		
	 FROM ACCOUNT#:

(please include Note number, if applicable)
	  	
	 TO ACCOUNT #:

(please include Note number, if applicable)
	  	Authorized Signature (Bank)

  

					
			
	 REQUESTED TRANSACTION TYPE
	  	REQUESTED DOLLAR AMOUNT	  	For Bank Use Only
			
	 PRINCIPAL INCREASE* (ADVANCE)
	  	$
                                         
       	  	Date Rec’d:
	 PRINCIPAL PAYMENT (ONLY)
	  	$                             
                   	  	Time:
		  		  	Comp. Status:             YES            
NO
	 OTHER INSTRUCTIONS
	  		  	Status Date:
	 	  	Time:
	 	  	Approval:

 All representations and warranties of Borrower stated in the Loan Agreement are true, correct and complete in all
material respects as of the date of the telephone request for and advance confirmed by this Borrowing Certificate, including without limitation the representation that Borrower has paid for and owns the equipment financed by the Bank; provided,
however, that those representations and warranties the date expressly referring to another date shall be true, correct and complete in all material respects as of such date. 

 

	*IS	THERE A WIRE REQUEST TIED TO THIS LOAN ADVANCE? (PLEASE CIRCLE
ONE                YES                NO 

If YES, the Outgoing Wire Transfer Instructions must be completed below. 

 

							
	OUTGOING WIRE TRANSFER INSTRUCTIONS	  	Fed Reference Number	  	Bank Transfer Number
	
	The items marked with an asterisk (*) are required to be completed.
	 *Beneficiary Name
	  	
	 *Beneficiary Account Number
	  	
	 *Beneficiary Address
	  	
	 Currency Type
	  	US DOLLARS ONLY
	 *ABA Routing Number (9 Digits)
	  	
	 *Receiving Institution Name
	  	
	 *Receiving Institution Address
	  	
	 *Wire Account
	  	$	  		  	

 EXHIBIT C 
 BORROWING BASE CERTIFICATE 
  

					
	 Borrower: VOCERA COMMUNICATIONS, INC.
                                         
                   Lender: Comerica Bank

		
	 Commitment Amount: $5,000,000
	  	

  

					
	 ACCOUNTS RECEIVABLE
	  	
	 1.      Accounts Receivable Book Value as of
            
	  		  	$                    
	 2.      Additions (please explain on reverse)
	  		  	$                    
	 3.      TOTAL ACCOUNTS RECEIVABLE
	  		  	$                    
			
	 ACCOUNTS RECEIVABLE DEDUCTIONS (without duplication)
	  		  	
	 4.      Amounts over 90 days due
	  	$                    	  	
	 5.      Balance of 25% over 90 day accounts
	  	$                    	  	
	 6.      Concentration Limits
	  		  	
	 7.      Foreign Accounts
	  	$                    	  	
	 8.      Governmental Accounts
	  	$                    	  	
	 9.      Contra Accounts
	  	$                    	  	
	 10.    Demo Accounts
	  	$                    	  	
	 11.    Intercompany/Employee Accounts
	  	$                    	  	
	 12.    Prebilled Support or Services accounts in excess of $500K
	  	$                    	  	
	 13.    TOTAL ACCOUNTS RECEIVABLE DEDUCTIONS
	  		  	$                    
	 14.    Eligible Accounts (#3 minus #13)
	  		  	$                    
	 15.    LOAN VALUE OF ACCOUNTS (80% of #14)
	  		  	$                    
			
	 BALANCES
	  		  	
	 16.    Maximum Loan Amount
	  		  	$5,000,000
	 17.    Total Funds Available [Lesser of #16 or #15]
	  		  	$                    
	 18.    Present balance owing on Line of Credit
	  		  	$                    
	 19.    Outstanding under ACH Sublimit
	  		  	$                    
	 20.    RESERVE POSITION (#17 minus #18 and #19)
	  		  	$                    

 The undersigned represents and warrants that the foregoing is true, complete and correct, and that the information
reflected in this Borrowing Base Certificate complies with the representations and warranties set forth in the Second Amended and Restated Loan and Security Agreement between the undersigned and Comerica Bank. 

 

			
	VOCERA COMMUNICATIONS, INC.
		
	By:	 	 
		 	 Authorized Signer

 EXHIBIT D 
 COMPLIANCE CERTIFICATE 
  

	TO:	        COMERICA BANK 

  

	FROM:	        VOCERA COMMUNICATIONS, INC. 

 The undersigned authorized officer of VOCERA COMMUNICATIONS, INC. hereby certifies that in accordance with the terms and conditions of the Second Amended and Restated Loan and Security Agreement between
Borrower and Bank (the “Agreement”), (i) Borrower is in complete compliance for the period ending                      with all
required covenants except as noted below and (ii) all representations and warranties of Borrower stated in the Agreement are true and correct as of the date hereof. Attached herewith are the required documents supporting the above
certification. The Officer further certifies that these are prepared in accordance with Generally Accepted Accounting Principles (GAAP) and are consistently applied from one period to the next except as explained in an accompanying letter or
footnotes. 
 Please indicate compliance status by circling Yes/No under “Complies” column. 

 

							
	 Reporting Covenant
	  	 Required
	  	 Complies

	Monthly financial statements, Orders and backlog report	  	Monthly within 20 days	  	Yes	  	No
	Annual (CPA Audited)	  	August 31	  	Yes	  	No
	10K and 10Q	  	(as applicable)	  	Yes	  	No
	A/R & A/P Agings, Borrowing Base Cert.	  	Monthly within 20 days (or bimonthly when more than $2.5MM in Advances outstanding)	  	Yes	  	No
	Compliance Cert.	  	Monthly within 20 days	  	Yes	  	No
	A/R Audit	  	Initial and Semi-Annual	  	Yes	  	No
	Annual Projections	  	45 days prior to FYE	  	Yes	  	No
	 Total amount of Borrower’s cash and investments maintained with Bank and Bank Affiliates
	  	All cash and investments	  	Yes	  	No

  

									
	 Financial Covenant
	  	 Required
	  	 Actual
	  	 Complies

	 Measured on a Monthly Basis:
	  		  		  		  	
	 Minimum Adjusted Quick Ratio
	  	1.10:1.00	  	______:1.00	  	  Yes  	  	  No  
	 Measured on a Quarterly Basis:
	  		  		  		  	
	 Minimum Net Income
	  	See attached chart	  	$_________	  	  Yes  	  	  No  

  

									
	Comments Regarding Exceptions: See Attached.	 		 	BANK USE ONLY
					
		 		 		 	 Received by:
	 	 
		 	 Sincerely,
	 		 		 	AUTHORIZED SIGNER
		 		 		 	 Date:
	 	 
					
		 	 	 		 	 Verified:
	 	 
		 	SIGNATURE	 		 		 	AUTHORIZED SIGNER
		 	 	 		 	 Date:
	 	 
		 	TITLE	 		 		 	
		 	 	 		 	
		 	Date:	 		 	Compliance
Status                                        
Yes            No

 Net Income Requirements 

 

					
	 Measuring Period
	  	Minimum Net Income	 
	 Quarter Ending 3/31/09
	  	 	($1,750,000	) 
	 Quarter Ending 6/30/09
	  	 	($1,150,000	) 
	 Quarter Ending 9/30/09
	  	 	($475,000	) 
	 Quarter Ending 12/31/09
	  	$	250,000	  

 EXHIBIT E 
 DAILY ADJUSTING LIBOR ADDENDUM 

 SCHEDULE OF EXCEPTIONS 
 Permitted Indebtedness (Section 1.1) 
 None. 

Permitted Investments (Section 1.1) 

None. 
 Permitted Liens (Section 1.1)

 None. 
 Prior Names (Section
5.5) 
 None. 
 Litigation
(Section 5.6) 
 None. 
 Inbound
Licenses (Section 5.12) 
 None. 

 Corporation Resolutions and Incumbency Certification 

Authority to Procure Loans 
  

 
 I certify that I am the duly elected and qualified
Secretary of VOCERA COMMUNICATIONS, INC.; that the following is a true and correct copy of resolutions duly adopted by the Board of Directors of the Corporation in accordance with its bylaws and applicable statutes. 

Copy of Resolutions: 
 Be it Resolved,
That: 
  

	1.	Any one (1) of the following CEO, COO, or CFO (insert titles only) of the Corporation are/is authorized, for, on behalf of, and in the name of the
Corporation to: 

  

	 	(a)	Negotiate and procure loans, letters of credit and other credit or financial accommodations from Comerica Bank (“Bank”), a Texas banking association,
including, without limitation, that certain Second Amended and Restated Loan and Security Agreement dated as of January 30, 2009, as may subsequently be amended from time to time. 

 

	 	(b)	Discount with the Bank, commercial or other business paper belonging to the Corporation made or drawn by or upon third parties, without limit as to amount;

  

	 	(c)	Purchase, sell, exchange, assign, endorse for transfer and/or deliver certificates and/or instruments representing stocks, bonds, evidences of Indebtedness or other
securities owned by the Corporation, whether or not registered in the name of the Corporation; 

  

	 	(d)	Give security for any liabilities of the Corporation to the Bank by grant, security interest, assignment, lien, deed of trust or mortgage upon any real or personal
property, tangible or intangible of the Corporation; and 

  

	 	(e)	Execute and deliver in form and content as may be required by the Bank any and all notes, evidences of Indebtedness, applications for letters of credit, guaranties,
subordination agreements, Second Amended and Restated Loan and Security Agreements, financing statements, assignments, liens, deeds of trust, mortgages, trust receipts and other agreements, instruments or documents to carry out the purposes of these
Resolutions, any or all of which may relate to all or to substantially all of the Corporation’s property and assets. 

  

	2.	Said Bank be and it is authorized and directed to pay the proceeds of any such loans or discounts as directed by the persons so authorized to sign, whether so payable
to the order of any of said persons in their individual capacities or not, and whether such proceeds are deposited to the individual credit of any of said persons or not; 

 

	3.	Any and all agreements, instruments and documents previously executed and acts and things previously done to carry out the purposes of these Resolutions are ratified,
confirmed and approved as the act or acts of the Corporation. 

  

	4.	These Resolutions shall continue in force, and the Bank may consider the holders of said offices and their signatures to be and continue to be as set forth in a
certified copy of these Resolutions delivered to the Bank, until notice to the contrary in writing is duly served on the Bank (such notice to have no effect on any action previously taken by the Bank in reliance on these Resolutions).

  

	5.	Any person, corporation or other legal entity dealing with the Bank may rely upon a certificate signed by an officer of the Bank to effect that these Resolutions and
any agreement, instrument or document executed pursuant to them are still in full force and effect and binding upon the Corporation. 

	6.	The Bank may consider the holders of the offices of the Corporation and their signatures, respectively, to be and continue to be as set forth in the Certificate of the
Secretary of the Corporation until notice to the contrary in writing is duly served on the Bank. 

 I further certify that the
above Resolutions are in full force and effect as of the date of this Certificate; that these Resolutions and any borrowings or financial accommodations under these Resolutions have been properly noted in the corporate books and records, and have
not been rescinded, annulled, revoked or modified; that neither the foregoing Resolutions nor any actions to be taken pursuant to them are or will be in contravention of any provision of the articles of incorporation or bylaws of the Corporation or
of any agreement, indenture or other instrument to which the Corporation is a party or by which it is bound; and that neither the articles of incorporation nor bylaws of the Corporation nor any agreement, indenture or other instrument to which the
Corporation is a party or by which it is bound require the vote or consent of shareholders of the Corporation to authorize any act, matter or thing described in the foregoing Resolutions. 
 I further certify that the following named persons have been duly elected to the offices set opposite their respective names, that they continue to hold these offices at the present time, and that the
signatures which appear below are the genuine, original signatures of each respectively: 
 (PLEASE SUPPLY GENUINE SIGNATURES
OF AUTHORIZED SIGNERS BELOW) 
  

											
	 NAME (Type or Print)

 
	 	 	 	 	  	 TITLE

 
	  	 	  	 SIGNATURE

 

	 Robert Zollars
	 		 		  	Chairman & CEO	  		  	/s/ Robert Zollars
	 Brent Lang
	 		 		  	COO & President	  		  	/s/ Brent Lang
	 Martin Silver
	 		 		  	CFO	  		  	/s/ Martin J. Silver
	 	 		 		  	 	  		  	 
	 	 		 		  	 	  		  	 
	 	 		 		  	 	  		  	 

 In Witness Whereof, I have affixed my name as Secretary and have caused the corporate seal (where available) of said
Corporation to be affixed on January 30, 2009. 
  

	
	/s/ Martin J. Silver
	Secretary Martin Silver

  

			
	The Above Statements are Correct.	  	 /s/ Robert Shostak; CTO & Board of Director

		  	 SIGNATURE OF OFFICER OR DIRECTOR OR, IF NONE. A SHAREHOLDER OTHER THAN SECRETARY WHEN SECRETARY IS AUTHORIZED TO SIGN
ALONE.

 Failure to complete the above when the Secretary is authorized to sign alone shall constitute a certification by the
Secretary that the Secretary is the sole Shareholder, Director and Officer of the Corporation. 

 ATTN: VOCERA COMMUNICATIONS, INC. 

USA PATRIOT ACT 
 NOTICE 
 OF 

CUSTOMER IDENTIFICATION 
 IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT 
 To help the
government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. 

WHAT THIS MEANS FOR YOU: when you open an account, we will ask your name, address, date of birth, and other information that will allow
us to identify you. We may also ask to see your driver’s license or other identifying documents. 

 COMERICA BANK 
 Member FDIC 
 ITEMIZATION OF AMOUNT FINANCED 

DISBURSEMENT INSTRUCTIONS 
 (Revolver) 
  

			
	Name(s): VOCERA COMMUNICATIONS, INC.	  	Date: January 30, 2009
		
	 $5,000,000
	  	credited to deposit account No. ___________ when Advances are requested by Borrower
	
	 Amounts paid to others on your behalf:

		
	 $
	  	to Comerica Bank for Loan Fee
		
	 $
	  	to Comerica Bank for Document Fee
		
	 $
	  	to Comerica Bank for accounts receivable audit (estimate)
		
	 $
	  	to Bank counsel fees and expenses
		
	 $
	  	to _______________
		
	 $
	  	to _______________
		
	 $
	  	TOTAL (AMOUNT FINANCED)

 Upon consummation of this transaction, this document will also serve as the authorization for Comerica
Bank to disburse the loan proceeds as stated above. 
  

					
			
	/s/ Martin J. Silver / CFO	 		 	  
	Signature	 		 	Signature

 COMERICA BANK 
 Member FDIC 
 ITEMIZATION OF AMOUNT FINANCED 

DISBURSEMENT INSTRUCTIONS 
 (Term Line) 
  

			
	Name(s): VOCERA COMMUNICATIONS, INC.	  	Date: January 30, 2009
		
	 $2,000,000
	  	credited to deposit account No. ___________ when Advances are requested by Borrower
	
	 Amounts paid to others on your behalf:

		
	 $
	  	to Comerica Bank for Loan Fee
		
	 $
	  	to Comerica Bank for Document Fee
		
	 $
	  	to Comerica Bank for accounts receivable audit (estimate)
		
	 $
	  	to Bank counsel fees and expenses
		
	 $
	  	to _______________
		
	 $
	  	to _______________
		
	 $
	  	TOTAL (AMOUNT FINANCED)

 Upon consummation of this transaction, this document will also serve as the authorization for Comerica
Bank to disburse the loan proceeds as stated above. 
  

					
			
	/s/ Martin J. Silver	 		 	  
	Signature	 		 	Signature

 

 
 Agreement to Furnish Insurance 

 
 Heron called “Bank” 

Borrower(s): VOCERA COMMUNICATIONS, INC. 
 I
understand that the Security Agreement or Deed of Trust which I executed in connection with this transaction requires me to provide a physical damage insurance policy including a Lenders Loss Payable Endorsement in favor of the Bank as shown below,
within ten (10) days from the date of this agreement. 
 The following minimum insurance must be provided according to the terms of the security
documents. 
  

							
	  ̈
	 	 AUTOMOBILES, TRUCKS, RECREATIONAL VEHICLES
 Comprehensive &
 Collision
 Lender’s Loss Payable Endorsement
	 	  ̈
	  	 MACHINERY & EQUIPMENT: MISCELLANEOUS PERSONAL PROPERTY

Fire & Extended Coverage
 Lender’s Loss Payable
Endorsement
  ̈   Breach of Warranty
Endorsement

				
	  ̈
	 	 BOATS

All Risk Hull Insurance
 Lender’s Loss Payable Endorsement

 ̈   Breach of Warranty Endorsement
	 	  ̈
	  	 AIRCRAFT
 All Risk Ground & Flight Insurance
 Lender’s Loss Payable
Endorsement
  ̈  Breach of Warranty
Endorsement

				
	  ̈
	 	 MOBILE HOMES 
 Fire;
Theft & Combined Additional Coverage Lender’s Loss Payable Endorsement

 ̈   Earthquake
	 	  ̈
	  	 REAL PROPERTY
 Fine & Extended Coverage
 Lender’s Loss Payable Endorsement

 ̈  All Risk Coverage

 ̈  Special Form Risk Coverage

 ̈  

 ̈   Earthquake

 ̈   Other
                                         
               

				
	  ̈
	 	INVENTORY	 		  	
		
	  ̈
	 	 Other
__________________________________________________________________________________________

            
__________________________________________________________________________________________

            
__________________________________________________________________________________________

 I may obtain the required insurance from any company that is acceptable to the Bank, and will deliver proof of such
coverage with an effective date of January 30, 2009 or earlier. 
 I understand and agree that if I fail to deliver proof of insurance to the
Bank at the address below, or upon the lapse or cancellation of such insurance, the Bank may procure Lender’s Single Interest Insurance or other similar coverage on the properly. If the Bank procures insurance to protect its interest in the
property described in the security documents, the cost for the insurance will be added to my indebtedness as provided in the security documents. Lender’s Single Interest Insurance shall cover only the Bank’s interest as a secured party,
and shall become effective at the earlier of the funding date of this transaction or the date my insurance was canceled or expired. I UNDERSTAND THAT LENDER’S SINGLE INTEREST INSURANCE WILL PROVIDE ME WITH ONLY LIMITED PROTECTION AGAINST
PHYSICAL DAMAGE TO THE COLLATERAL, UP TO THE BALANCE OF THE LOAN, HOWEVER, MY EQUITY IN THE PROPERTY WILL NOT BE INSURED. FURTHER, THE INSURANCE WILL NOT PROVIDE MINIMUM PUBLIC LIABILITY OR PROPERTY DAMAGE INDEMNIFICATION AND DOES NOT MEET THE
REQUIREMENTS OF THE FINANCIAL RESPONSIBILITY LAW. 
 CALIFORNIA CIVIL CODE SECTION 2955.5. HAZARD INSURANCE DISCLOSURE: No lender shall require
a borrower, as a condition of receiving or maintaining a loan secured by real property, to provide hazard insurance coverage against risks to the improvements on that real property in an amount exceeding the replacement value of the improvements on
the property. 
  

	
	Bank Address for Insurance Documents:
	 Comerica Bank – Collateral Operations. Mail Code 4770

	 75 East Trimble Road

	 San Jose, California 95131

 I acknowledge having read the provisions of this agreement, and agree to its terms. I authorize the Bank to
provide to any person (including any insurance agent or company) any information necessary to obtain the insurance coverage required. 
  

									
					
		 	OWNER(S) OF COLLATERAL:	 		 	DATED:	 	 
				
		 	 	 		 	 
				
		 	 	 		 	 

  

	
	 INSURANCE VERIFICATION

	
	Date                             
                                         
                                         
                                         
 
Phone                                        
                         
	
	
Agents Name                     
                                         
                                         
                                 Person Talked To    
                                        

	
	
Agents Address                     
                                         
                                         
                                         
                                         
                                         
 

	
	
Insurance Company                    
                                         
                                         
                                         
                                         
                                   

	
	
Policy Number (s)                   
                                         
                                         
                                         
                                         
                                       

	
	
Effective Dates: From                   
                                         
                                         
   To:                                     
                                         
                         

	
	
Deductible $                     
                                         
                                         
   Comments:                                    
                                         
                            

							
	COMERICA BANK	  	
	 Member FDIC
	  	AUTOMATIC DEBIT AUTHORIZATION

 To: Comerica Bank 
 Re: Loan # __________________________ 
 You are hereby authorized and instructed to charge
account No. 1891576009 in the name of VOCERA COMMUNICATIONS, INC. 

							
	
	for principal, interest and other payments due on above referenced loan as set forth below and credit the loan referenced above.
		
		  	 x         Debit each interest payment as it
becomes due according to the terms of the Second Amended and Restated Loan and Security Agreement and any renewals or amendments thereof.

		
		  	 x         Debit each principal payment as it
becomes due according to the terms of the Second Amended and Restated Loan and Security Agreement and any renewals or amendments thereof.

		
		  	 x         Debit each payment for Bank Expenses
as it becomes due according to the terms of the Second Amended and Restated Loan and Security Agreement and any renewals or amendments thereof.

	
	 This Authorization is to remain in full force and effect until revoked in
writing.

  

							
		
	 Borrower Signature
	 	Date
		
	 /s/ Martin J. Silver / CFO
	 	January 30, 2009
		
		 	January 30, 2009

 COMERICA BANK 
  

					
		  		  	COMERICA BANK
		  		  	CLIENT AUTHORIZATION

 Fax (408) 451-8568 

 
 General Authorization 

I hereby authorize Comerica Bank to use my company name, logo, and information relating to our banking relationship in its marketing and advertising
campaigns which is intended for Comerica Bank’s customers, prospects and shareholders. 
 Comerica Bank will forward any advertising or
article including client for prior review and approval. 
  

	
	/s/ Martin J. Silver
	Signature
	
	Martin J. Silver                     Chief Financial Officer
	Printed Name
                        Title
	
	Vocera Communications, Inc.
	Company
	
	525 Race Street, Ste 150
	Mailing Address
	
	San Jose, CA 95126-3495
	City, State, Zip Code
	
	408-882-5990
	Phone Number
	
	408-882-5901
	Fax Number
	
	msilver@vocera.com
	E-Mail
	
	January 30, 2009

			
	 DEBTOR
	  	VOCERA COMMUNICATIONS, INC.
	  
 SECURED
PARTY:
	  	COMERICA BANK

 EXHIBIT A 
 COLLATERAL DESCRIPTION ATTACHMENT 
 TO UCC NATIONAL FORM FINANCING STATEMENT

 All personal property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently
existing or hereafter created or acquired, and wherever located, including, but not limited to: 
 (a) all
accounts (including health-care-insurance receivables), chattel paper (including tangible and electronic chattel paper), deposit accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto),
general intangibles (including payment intangibles and software), goods (including fixtures), instruments (including promissory notes), inventory (including all goods held for sale or lease or to be furnished under a contract of service, and
including returns and repossessions), investment property (including securities and securities entitlements), letter of credit rights, money, and all of Debtor’s books and records with respect to any of the foregoing, and the computers and
equipment containing said books and records; 
 (b) all common law and statutory copyrights and copyright
registrations, applications for registration, now existing or hereafter arising, in the United States of America or in any foreign jurisdiction, obtained or to be obtained on or in connection with any of the foregoing, or any parts thereof or any
underlying or component elements of any of the foregoing, together with the right to copyright and all rights to renew or extend such copyrights and the right (but not the obligation) of Secured Party to sue in its own name and/or in the name of the
Debtor for past, present and future infringements of copyright; 
 (c) all trademarks, service marks, trade names
and service names and the goodwill associated therewith, together with the right to trademark and all rights to renew or extend such trademarks and the right (but not the obligation) of Secured Party to sue in its own name and/or in the name of the
Debtor for past, present and future infringements of trademark; 
 (d) all (i) patents and patent
applications filed in the United States Patent and Trademark Office or any similar office of any foreign jurisdiction, and interests under patent license agreements, including, without limitation, the inventions and improvements described and
claimed therein, (ii) licenses pertaining to any patent whether Debtor is licensor or licensee, (iii) income, royalties, damages, payments, accounts and accounts receivable now or hereafter due and/or payable under and with respect
thereto, including, without limitation, damages and payments for past, present or future infringements thereof, (iv) right (but not the obligation) to sue in the name of Debtor and/or in the name of Secured Party for past, present and future
infringements thereof, (v) rights corresponding thereto throughout the world in all jurisdictions in which such patents have been issued or applied for, and (vi) reissues, divisions, continuations, renewals, extensions and
continuations-in-part with respect to any of the foregoing; and 
 (e) any and all cash proceeds and/or noncash
proceeds of any of the foregoing, including, without limitation, insurance proceeds, and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the California Uniform
Commercial Code, as amended or supplemented from time to time, including revised Division 9 of the Uniform Commercial Code- Secured Transactions, added by Stats. 1999, c.991 (S.B. 45), Section 35, operative July 1, 2001. 

Notwithstanding the foregoing, the Collateral shall not include any copyrights, patents, trademarks, servicemarks and
applications therefor, now owned or hereafter acquired, or any claims for damages by way of any past, present and future infringement of any of the foregoing (collectively, the “Intellectual Property”); provided, however, that the
Collateral shall include all accounts and general intangibles that consist of rights to payment and proceeds from the sale, licensing or disposition of all or any part, or rights in, the foregoing (the “Rights to Payment”). Notwithstanding
the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a 

 
security interest in the underlying Intellectual Property is necessary to have a security interest in the Rights to Payment, then the Collateral shall automatically, and effective as of
January 30, 2009, include the Intellectual Property to the extent necessary to permit perfection of Bank’s security interest in the Rights to Payment. 

 FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY 

This First Amendment to Second Amended and Restated Loan and Security Agreement (this VOCERA COMMUNICATIONS, INC. (“Borrower”).

 RECITALS 
 Borrower and Bank are parties to that certain Second Amended and Restated Loan and Security Agreement of January 30, 2009, as amended from time to time (the “Agreement”). The parties desire
to amend the Agreement in accordance with the terms of this Amendment. 
 NOW, THEREFORE, the parties agree as follows:

 1. The following defined terms in Section 1.1 of the Agreement hereby are added, amended or restated as follows:

 “Credit Card Services Sublimit” means a sublimit for corporate credit cards and e-commerce or
merchant account services under the Revolving Line not to exceed Five Hundred Thousand Dollars ($500,000), minus any amounts outstanding under the Letter of Credit Sublimit and the outstanding FX Amount. 

“Letter of Credit” means a commercial or standby letter of credit or similar undertaking issued by Bank at
Borrower’s request in accordance with Section 2.1(b)(iii). 
 “Letter of Credit Sublimit”
means a sublimit for Letters of Credit under the Revolving Line not to exceed Five Hundred Thousand Dollars ($500,000), less any amounts outstanding under the Credit Card Services Sublimit and the outstanding FX Amount. 

“Permitted Foreign Accounts” means deposit accounts (but not savings or investment accounts) maintained by
Borrower with financial institutions outside of the United States with aggregate balances not to exceed One Million Dollars ($1,000,000) at any time. 
 “Revolving Maturity Date” means January 28, 2011. 
 2. Subsection
(k) of the defined term “Eligible Accounts” in Section 1.1 of the Agreement is hereby amended and restated in its entirety to read as follows: 

“(k) Intentionally Omitted;” 
 3. The defined term “ACH Sublimit” in Section 1.1 of the Agreement is hereby deleted in its entirety. 
 4. Section 2.1(b)(iii) is hereby amended and restated in its entirety to read as follows: 
 (iii) Letter of Credit Sublimit. Subject to the availability under the Revolving Line, and in reliance on the representations and warranties of Borrower set forth herein, at any time and from time
to time from the date hereof through the Business Day immediately prior to the Revolving Maturity Date, Bank shall issue for the account of Borrower such Letters of Credit as Borrower may request by delivering to Bank a duly executed letter of
credit application on Bank’s standard form; provided, however, that the outstanding and undrawn amounts under all such Letters of Credit (i) shall not at any time exceed the Letter of Credit Sublimit, and (ii) shall be deemed to
constitute Advances for the purpose of calculating availability under the Revolving Line. Any drawn but unreimbursed amounts under any Letter of Credit shall be charged as Advances against the Revolving Line. All Letters of Credit shall be in form
and substance acceptable to Bank in its sole discretion and shall be subject to the terms and conditions of Bank’s form application and letter of credit agreement. Borrower will pay any standard issuance and other fees that Bank notifies
Borrower it will charge for issuing and processing Letters of Credit. 
 5. Section 2,1(b)(iv) is hereby amended and
restated in its entirety to read as follows: 
 “(iv) Credit Card Services Sublimit. Subject to the
terms and conditions of this Agreement, Borrower may request corporate credit cards and standard and e-commerce merchant account services from Bank (collectively, the “Credit Card Services”), The aggregate limit of the corporate credit
cards and merchant credit card processing reserves shall not exceed the Credit Card Services Sublimit, provided that availability under the Revolving Line shall be reduced by the aggregate limits of

  
 1 

 
the corporate credit cards issued to Borrower and merchant credit card processing reserves. In addition, Bank may, in its sole discretion, charge as Advances any amounts that become due or owing
to Bank in connection with the Credit Card Services. The terms and conditions (including repayment and fees) of such Credit Card Services shall be subject to the terms and conditions of the Bank’s standard forms of application and agreement for
the Credit Card Services, which Borrower hereby agrees to execute. 
 6. New Sections 2,1(b)(v) and 2.1(b)(vi) are hereby added
to the Agreement as follows: 
 “(v) Foreign Exchange Sublimit. Subject to and upon the terms and
conditions of this Agreement and any other agreement that Borrower may enter into with the Bank in connection with foreign exchange transactions (“FX Contracts”). Borrower may request Bank to enter into FX Contracts with Borrower due not
later than the Revolving Maturity Date. Borrower shall pay any standard issuance and other fees that Bank notifies Borrower will be charged for issuing and processing FX Contracts for Borrower. The FX Amount shall at all times be equal to or less
than Five Hundred Thousand Dollars ($500,000), less any amounts outstanding under the Letter of Credit Sublimit and the Credit Card Services Sublimit. The “FX Amount” shall equal the amount determined by multiplying (i) the aggregate
amount, in United States Dollars, of FX Contracts between Borrower and Bank remaining outstanding as of any date of determination by (ii) the applicable Foreign Exchange Reserve Percentage as of such date. The “Foreign Exchange Reserve
Percentage” shall be a percentage as determined by Bank, in its sole discretion from time to time. The initial Foreign Exchange Reserve Percentage shall be ten percent (10%). 

(vi) Collateralization of Obligations Extending Beyond Maturity. If Borrower has not secured to Bank’s
satisfaction its obligations with respect to any Letters of Credit, Credit Card Services or Foreign Exchange Contracts by the Revolving Maturity Date, then, effective as of such date, the balance in any deposit accounts held by Bank and the
certificates of deposit or time deposit accounts issued by Bank in Borrower’s name (and any interest paid thereon or proceeds thereof, including any amounts payable upon the maturity or liquidation of such certificates or accounts), shall
automatically secure such obligations to the extent of the then continuing or outstanding and undrawn Letters of Credit, Credit Card Services or Foreign Exchange Contracts. Borrower authorizes Bank to hold such balances in pledge and to decline to
honor any drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the Letters of Credit, Credit Card Services or Foreign Exchange Contracts are outstanding or
continue.” 
 7. Section 2.3(a) is hereby amended and restated in its entirety to read as follows: 

“(a) Interest Rates for Credit Extensions. Except as set forth in Section 2.3(b), the Credit Extensions
shall bear interest, on the outstanding daily balance thereof, as set forth in the Prime Referenced Rate Addendum to Second Amended and Restated Loan & Security Agreement attached as Exhibit E.” 

8. The following is hereby added to the end of Section 4.4 of the Agreement: 

“The foregoing provisions shall not apply to any amounts collected or maintained by Borrower in the Permitted Foreign
Accounts,” 
 9. Section 6.2(vi) is hereby amended and restated in its entirety to read as follows: 

“(vi) such budgets, sales projections, operating plans or other financial information as Bank may reasonably request
from time to time, including, as soon as available, but any event no later than December 31 of each year, annual financial projections approved by Borrower’s board of directors.” 

10. Section 6.6 is hereby amended and restated in its entirety to read as follows: 

“6.6 Accounts. Borrower shall maintain all its depository and operating accounts with Bank, and all its
investment accounts with Bank or Bank’s Affiliates subject to account control agreements in favor of Bank; provided however that Borrower may maintain the Permitted Foreign Accounts outside Bank without obtaining account control agreements with
respect to such accounts.” 
 11. Section 6.7 is hereby amended and restated in its entirety to read as follows:

 “6.7 Financial Covenants. Borrower shall at all times maintain the following financial ratios and
covenants: 
 (a) Adjusted Quick Ratio. Borrower shall at all times, measured on a monthly basis, maintain
a ratio of Cash held at Bank or at Bank’s Affiliates subject to account control agreements in favor of Bank plus Eligible Accounts to 

  
 2 

 
Current Liabilities plus (to the extent not already included therein) all Indebtedness to Bank (excluding any amounts outstanding in connection with Automated Clearing House transactions) less
the current portion of Deferred Revenue of at least 1.25 to 1.00. 
 (b) Net Income. Quarterly Net Income
of not less than the following: 
  

					
	 Measuring Period
	  	Minimum Net Income	 
	 Quarter Ending 3/31/10
	  	 	($700,000	) 
	 Quarter Ending 6/30/10
	  	 	($500,000	) 
	 Quarter Ending 9/30/10
	  	$	100,000	  
	 Quarter Ending 12/31/10
	  	$	500,000	  

 12. All references in the Loan Documents to Bank’s address at 75 East Trimble Road, M/C 4770, San
Jose, California 95131, Attn: Manager shall mean and refer to 39200 Six Mile Road, M/C 7578, Livonia, Michigan 48152, Attn: National Documentation Services. 
 13. Exhibit E to the Agreement is hereby replaced with Exhibit E attached hereto. 

14. No course of dealing on the part of Bank or its officers, nor any failure or delay in the exercise of any right by Bank, shall
operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of any such right. Bank’s failure at any time to require strict performance by Borrower of any provision shall not affect
any right of Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in writing signed by an officer of Bank. 
 15. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended hereby, shall be and remain in full force and effect in
accordance with its respective terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any
right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. 
 16. Borrower represents and
warrants that the Representations and Warranties contained in the Agreement are true and correct as of the date of this Amendment, and that no Event of Default has occurred and is continuing. 

17. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the
following: 
 (a) this Amendment, duly executed by Borrower; 

(b) an officer’s certificate of Borrower with respect to incumbency and resolutions authorizing the execution and
delivery of this Amendment; 
 (c) a renewal fee in the amount of Ten Thousand Dollars ($10,000), which may be
debited from any of Borrower’s accounts; 
 (d) all reasonable Bank Expenses incurred through the date of
this Amendment, which may be debited from any of Borrower’s accounts; and 
 (e) such other documents, and
completion of such other matters, as Bank may reasonably deem necessary or appropriate. 
 18. This Amendment may be executed in
two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument. 

  
 3 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	VOCERA COMMUNICATIONS, INC.
		
	By:	 	/s/ Martin J. Silver
	Title:	 	Martin J. Silver / Chief Financial Officer
	
	COMERICA BANK
		
	By:	 	/s/ Robert Shott
	Title:	 	SVP

 [Signature Page to First Amendment to Second Amended and Restate Loan & Security
Agreement] 

  
 4 

 EXHIBIT D 
 COMPLIANCE CERTIFICATE 
  

			
	 TO:
	  	COMERICA BANK
		
	 FROM:
	  	VOCERA COMMUNICATIONS, INC.

 The undersigned authorized officer of VOCERA COMMUNICATIONS, INC. hereby certifies that in accordance
with the terms and conditions of the Second Amended and Restated Loan and Security Agreement between Borrower and Bank (the “Agreement”), (i) Borrower is in complete compliance for the period ending
                    with all required covenants except as noted below and (ii) all representations and warranties of Borrower stated in
the Agreement are true and correct as of the date hereof. Attached herewith are the required documents supporting the above certification. The Officer further certifies that these are prepared in accordance with Generally Accepted Accounting
Principles (GAAP) and are consistently applied from one period to the next except as explained in an accompanying letter or footnotes. 
 Please indicate compliance status by circling Yes/No under “Complies” column. 
  

							
	 Reporting Covenant
	  	Required	  	Complies
			
	Monthly financial statements, Orders and backlog report	  	Monthly within 20 days	  	Yes     No
	Annual (CPA Audited)	  	August 31	  	Yes     No
	10K and 10Q	  	(as applicable)	  	Yes     No
	A/R & A/P Agings, Borrowing Base Cert.	  	Monthly within 20 days (or bimonthly when more than $2.5MM in Advances outstanding)	  	Yes     No
	Compliance Cert.	  	Monthly within 20 days	  	Yes     No
	A/R Audit	  	Initial and Semi-Annual	  	Yes     No
	Annual Projections	  	12/31 of each year	  	Yes     No
	Total amount of Borrower’s cash and investments maintained with Bank and Bank Affiliates	  	All cash and investments other than the Permitted Foreign Account	  	Yes     No

  

							
	 Financial Covenant
	  	Required	  	Actual	  	Complies
				
	Measured on a Monthly Basis:	  		  		  	
	 Minimum Adjusted Quick Ratio
	  	1.25:1.00	  	_____:1.00	  	Yes No
				
	Measured on a Quarterly Basis:	  		  		  	
	 Minimum Net Income
	  	See
attached
chart	  	$______	  	Yes No

  

									
	Comments Regarding Exceptions: See Attached.	 		 	BANK USE ONLY
					
	Sincerely,    	 	 	 		 	Received by:	 	 
		 	SIGNATURE	 		 		 	AUTHORIZED SIGNER
					
		 	 	 		 	DATE:	 	 
					
		 	TITLE	 		 	Verified:	 	 
		 	 	 		 		 	AUTHORIZED SIGNER
					
		 	DATE	 		 	DATE:	 	 
		 		 		 	
		 		 		 	Compliance Status                        
                     Yes         No

  

 Net Income Requirements 

 

					
	 Measuring Period
	  	Minimum Net Income	 
	 Quarter Ending 3/31/10
	  	 	($700,000	) 
	 Quarter Ending 6/30/10
	  	 	($500,000	) 
	 Quarter Ending 9/30/10
	  	$	100,000	  
	 Quarter Ending 12/31/10
	  	$	500,000	  

 EXHIBIT E 
 PRIME REFERENCED RATE ADDENDUM 
 [please see attached]

 Corporation Resolutions and Incumbency Certification 

Authority to Procure Loans 

I certify that I am the duly elected and qualified Secretary of VOCERA COMMUNICATIONS, INC.; that the following is a true and correct copy of resolutions
duly adopted by the Board of Directors of the Corporation in accordance with its bylaws and applicable statutes. 
 Copy of Resolutions:

 Be it Resolved, That: 
  

	1.	Anyone (1) of the following Chairman, CEO, COO, CFO (insert titles only) of the Corporation are/is authorized, for, on behalf of, and in the name of the
Corporation to: 

  

	 	(a)	Negotiate and procure loans, letters of credit and other credit or financial accommodations from Comerica Bank (“Bank”), a Texas banking association,
including, without limitation, that certain Second Amended and Restated Loan and Security Agreement dated as of January 30, 2009, as may subsequently be amended from time to time, including by that certain First Amendment to Amended and
Restated Loan and Security Agreement dated as of February 19, 2010; 

  

	 	(b)	Discount with the Bank, commercial or other business paper belonging to the Corporation made or drawn by or upon third parties, without limit as to amount;

  

	 	(c)	Purchase, sell, exchange, assign, endorse for transfer and/or deliver certificates and/or instruments representing stocks, bonds, evidences of Indebtedness or other
securities owned by the Corporation, whether or not registered in the name of the Corporation; 

  

	 	(d)	Give security for any liabilities of the Corporation to the Bank by grant, security interest, assignment, lien, deed of trust or mortgage upon any real or personal
property, tangible or intangible of the Corporation; and 

  

	 	(e)	Execute and deliver in form and content as may be required by the Bank any and all notes, evidences of Indebtedness, applications for letters of credit, guaranties,
subordination agreements, Second Amended and Restated Loan and Security Agreements, financing statements, assignments, liens, deeds of trust, mortgages, trust receipts and other agreements, instruments or documents to carry out the purposes of these
Resolutions, any or all of which may relate to all or to substantially all of the Corporation’s property and assets. 

  

	2.	Said Bank be and it is authorized and directed to pay the proceeds of any such loans or discounts as directed by the persons so authorized to sign, whether so payable
to the order of any of said persons in their individual capacities or not, and whether such proceeds are deposited to the individual credit of any of said persons or not; 

 

	3.	Any and all agreements, instruments and documents previously executed and acts and things previously done to carry out the purposes of these Resolutions are ratified,
confirmed and approved as the act or acts of the Corporation. 

  

	4.	These Resolutions shall continue in force, and the Bank may consider the holders of said offices and their signatures to be and continue to be as set forth in a
certified copy of these Resolutions delivered to the Bank, until notice to the contrary in writing is duly served on the Bank (such notice to have no effect on any action previously taken by the Bank in reliance on these Resolutions).

  

	5.	Any person, corporation or other legal entity dealing ‘with the Bank may rely upon a certificate signed by an officer of the Bank to effect that these Resolutions
and any agreement, instrument or document executed pursuant to them are still in full force and effect and binding upon the Corporation. 

  

	6.	The Bank may consider the holders of the offices of the Corporation and their signatures, respectively, to be and continue to be as set forth in the Certificate of the
Secretary of the Corporation until notice to the contrary in writing is duly served on the Bank. 

 I further
certify that the above Resolutions are in full force and effect as of the date of this Certificate; that these Resolutions and any borrowings or financial accommodations under these Resolutions have been properly noted in the corporate books and
records, and have not been rescinded, annulled, revoked or modified; that neither the foregoing Resolutions nor any 

 
actions to be taken pursuant to them are or will be in contravention of any provision of the articles of incorporation or bylaws of the Corporation or of any agreement, indenture or other
instrument to which the Corporation is a party or by which it is bound; and that neither the articles of incorporation nor by laws of the Corporation nor any agreement, indenture or other instrument to which the Corporation is a party or by which it
is bound require the vote or consent of shareholders of the Corporation to authorize any act, matter or thing described in the foregoing Resolutions. 
 I further certify that the following named persons have been duly elected to the offices set opposite their respective names, that they continue to hold these offices at the present time, and that the
signatures which appear below are the genuine, original signatures of each respectively: 
 (PLEASE SUPPLY GENUINE SIGNATURES
OF AUTHORIZED SIGNERS BELOW) 
 NAME (Type or Print) TITLE SIGNATURE 

 

					
	NAME (Type or Print)	 	TITLE	 	SIGNATURE
			
	Robert Zollars	 	Chairman	 	/s/ Robert Zollars
			
	Brent Lang	 	COO	 	/s/ Brent Lang
			
	Martin Silver	 	CFO	 	/s/ Martin Silver

 In Witness Whereof, I have affixed my name as Secretary and have caused the corporate seal (where available) of said
Corporation to be affixed on February 26, 2010. 
  

	
	/s/ Martin J. Silver
	Secretary Martin J. Silver; Corporate Secretary

  

			
	 The Above Statements are Correct.    
	 	/S/ illegible
		 	 SIGNATURE OF OFFICER OR DIRECTOR OR, IF NONE. A
 SHAREHOLDER OTHER THAN SECRETARY WHEN SECRETARY IS
 AUTHORIZED TO SIGN ALONE.

 Failure to complete the above when the Secretary is authorized to sign alone shall constitute a certification by the
Secretary that the Secretary is the sole Shareholder, Director and Officer of the Corporation. 

 Prime Referenced Rate Addendum To 

Second Amended and Restated Loan and Security Agreement 

This Prime Referenced Rate Addendum to Second Amended and Restated Loan and Security Agreement (this “Addendum”) is entered
into as of February 19, 2010, by and between Comerica Bank (“Bank”) and VOCERA COMMUNICATIONS, INC. (“Borrower”). This Addendum supplements the terms of the Second Amended and Restated Loan and Security Agreement dated as of
January 30, 2009, as amended from time to time, including by that certain First Amendment to Second Amended and Restated Loan and Security Agreement dated as of the date hereof (as the same may be amended, modified, supplemented, extended or
restated from time to time, collectively, the “Agreement”). 
 1. Definitions. As used in this Addendum, the
following terms shall have the following meanings. Initially capitalized terms used and not defined in this Addendum shall have the meanings ascribed thereto in the Agreement. 
 a. “Applicable Margin” means (i) one percent (l.00%) per annum with respect to Advances and (ii) two percent (2.00%) per annum with respect to Term Advances. 

b. “Business Day” means any day, other than a Saturday, Sunday or any other day designated as a holiday under Federal or
applicable State statute or regulation, on which Bank is open for all or substantially all of its domestic and international business (including dealings in foreign exchange) in San Jose, California, and, in respect of notices and determinations
relating the Daily Adjusting LIBOR Rate, also a day on which dealings in dollar deposits are also carried on in the London interbank market and on which banks are open for business in London, England. 

c. “Daily Adjusting LIBOR Rate” means, for any day, a per annum interest rate which is equal to the quotient of the following:

  

	 	(1)	for any day, the per annum rate of interest determined on the basis of the rate for deposits in United States Dollars for a period equal to one (1) month appearing
on Page BBAM of the Bloomberg Financial Markets Information Service as of 8:00 a.m. (California time) (or as soon thereafter as practical) on such day, or if such day is not a Business Day, on the immediately preceding Business Day. In the event
that such rate does not appear on Page BBAM of the Bloomberg Financial Markets Information Service (or otherwise on such Service) on any day, the “Daily Adjusting LIBOR Rate” for such day shall be determined by reference to such other
publicly available service for displaying eurodollar rates as may be reasonably selected by Bank, or in the absence of such other service, the “Daily Adjusting LIBOR Rate” for such day shall, instead, be determined based upon the average
of the rates at which Bank is offered dollar deposits at or about 8:00 a.m. (California time) (or as soon thereafter as practical), on such day, or if such day is not a Business Day, on the immediately preceding Business Day, in the interbank
eurodollar market in an amount comparable to the outstanding principal amount of the Obligations and for a period equal to one (1) month; 

 divided by 
  

	 	(2)	l.00 minus the maximum rate (expressed as a decimal) on such day at which Bank is required to maintain reserves on “Euro-currency Liabilities” as defined in
and pursuant to Regulation D of the Board of Governors of the Federal Reserve System or, if such regulation or definition is modified, and as long as Bank is required to maintain reserves against a category of liabilities which includes eurodollar
deposits or includes a category of assets which includes eurodollar loans, the rate at which such reserves are required to be maintained on such category. 

 d. “LIBOR Lending Office” means Bank’s office located in the Cayman Islands, British West Indies, or such other branch of Bank, domestic or foreign, as it may hereafter designate as its
LIBOR Lending Office by notice to Borrower. 
 e. “Prime Rate” means the per annum interest rate established by Bank
as its prime rate for its borrowers, as such rate may vary from time to time, which rate is not necessarily the lowest rate on loans made by Bank at any such time. 
 f. “Prime Referenced Rate” means, for any day, a per annum interest rate which is equal to the Prime Rate in effect on such day, but in no event and at no time shall the Prime Referenced Rate be
less than the sum of the Daily Adjusting LIBOR Rate for such day plus two and one-half percent (2.50%) per annum. If, at any time, Bank determines that it is unable to determine or ascertain the Daily Adjusting LIBOR Rate for any day, the Prime
Referenced Rate for each such day shall be the Prime Rate in effect at such time, but not less than two and one-half percent (2.50%) per annum. 

  
 1 

 2. Interest Rate. Subject to the terms and conditions of this Addendum, the
Obligations under the Agreement shall bear interest at the Prime Referenced Rate plus the Applicable Margin. 
 3. Payment of
Interest. Accrued and unpaid interest on the unpaid balance of the Obligations outstanding under the Agreement shall be payable monthly, in arrears, on the first Business Day of each month, until maturity (whether as stated herein, by
acceleration, or otherwise). In the event that any payment under this Addendum becomes due and payable on any day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day, and, to the extent applicable,
interest shall continue to accrue and be payable thereon during such extension at the rates set forth in this Addendum. Interest accruing hereunder shall be computed on the basis of a year of 360 days, and shall be assessed for the actual number of
days elapsed, and in such computation, effect shall be given to any change in the applicable interest rate as a result of any change in the Prime Referenced Rate on the date of each such change. 

4. Bank’s Records. The amount and date of each advance under the Agreement, its applicable interest rate, and the amount and
date of any repayment shall be noted on Bank’s records, which records shall be conclusive evidence thereof, absent manifest error; provided, however, any failure by Bank to make any such notation, or any error in any such notation, shall not
relieve Borrower of its obligations to repay Bank all amounts payable by Borrower to Bank under or pursuant to this Addendum and the Agreement, when due in accordance with the terms hereof. 

5. Default Interest Rate. From and after the occurrence of any Event of Default, and so long as any such Event of Default remains
unremedied or uncured thereafter, the Obligations outstanding under the Agreement shall bear interest at a per annum rate of five percent (5%) above the otherwise applicable interest rate hereunder, which interest shall be payable upon demand.
In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the payment due date therefor, but
acceptance of payment of any such charge shall not constitute a waiver of any Event of Default under the Agreement. In no event shall the interest payable under this Addendum and the Agreement at any time exceed the maximum rate permitted by law.

 6. Prepayment. Borrower may prepay all or part of the outstanding balance of any Obligations at any time without
premium or penalty. Any prepayment hereunder shall also be accompanied by the payment of all accrued and unpaid interest on the amount so prepaid. Borrower hereby acknowledges and agrees that the foregoing shall not, in any way whatsoever, limit,
restrict, or otherwise affect Bank’s right to make demand for payment of all or any part of the Obligations under the Agreement due on a demand basis in Bank’s sole and absolute discretion. 

7. Regulatory Developments or Other Circumstances Relating to the Daily Adjusting LIBOR Rate. 

a. If the adoption after the date hereof, or any change after the date hereof in, any applicable law, rule or regulation (whether
domestic or foreign) of any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by Bank with any request or directive (whether or not having the force of law) made by any
such authority, central ban1e or comparable agency after the date hereof: (a) shall subject Bank to any tax, duty or other charge with respect to this Addendum or any Obligations under the Agreement, or shall change the basis of taxation of
payments to Bank of the principal of or interest under this Addendum or any other amounts due under this Addendum in respect thereof (except for changes in the rate of tax on the overall net income of Bank or its LIBOR Lending Office imposed by the
jurisdiction in which Bank’s principal executive office or LIBOR Lending Office is located); or (b) shall impose, modify or deem applicable any reserve (including, without limitation, any imposed by the Board of Governors of the Federal
Reserve System), special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by Bank, or shall impose on Bank or the foreign exchange and interbank markets any other condition affecting this
Addendum or the Obligations hereunder; and the result of any of the foregoing is to increase the cost to Bank of maintaining any part of the Obligations hereunder or to reduce the amount of any sum received or receivable by Bank under this Addendum
by an amount deemed by the Bank to be material, then Borrower shall pay to Bank, within fifteen (15) days of Borrower=s receipt of written notice from Bank demanding such compensation, such additional amount or amounts as will compensate Bank
for such increased cost or reduction. A certificate of Bank, prepared in good faith and in reasonable necessary to compensate Bank shall be conclusive and binding for all purposes, absent manifest error. 

b. In the event that any applicable law, treaty, rule or regulation (whether domestic or foreign) now or hereafter in authority (whether
or not having the force of law), including any risk-based capital guidelines, affects or would affect the amount of such capital is increased by or based upon the existence of any obligations of Bank hereunder or the maintaining of any Obligations
hereunder, and such increase has the effect of reducing the rate of return on Bank’s (or such controlling corporation’s) capital as a (15) days of Borrower’s receipt of written notice from Bank demanding such compensation,
additional amounts as are sufficient to compensate Bank (or such controlling corporation) for any increase in the amount of capital and reduced rate of return which Bank reasonably determines to be allocable to the existence ,of any obligations of
the Bank hereunder or to maintaining any Obligations hereunder. A certificate of Bank as to the amount of such compensation, prepared in 

  
 2 

 
good faith and in reasonable detail by the Bank and submitted by Bank to the undersigned, shall be conclusive and binding for all purposes absent manifest error. 

8. Legal Effect. Except as specifically modified hereby, all of the terms and conditions of the Agreement remain in full force and
effect. 
 9. Conflicts. As to the matters specifically the subject of this Addendum, in the event of any conflict
between this Addendum and the Agreement, the terms of this Addendum shall control. 
 IN WITNESS WHEREOF, the parties have
agreed to the foregoing as of the date first set forth above. 
  

									
	COMERICA BANK	 		 	VOCERA COMMUNICATIONS, INC.
					
	By:	 	/s/ Robert Shott	 		 	By:	 	/s/ Martin J. Silver
	Name:	 	Robert Shott	 		 	Name:	 	Martin J. Silver
	Title:	 	SVP	 		 	Title:	 	Chief Financial Officer

  
 3 

 SECOND AMENDMENT TO SECOND AMENDED AND 

RESTATED LOAN AND SECURITY AGREEMENT 
 This Second Amendment to Second Amended and Restated Loan and Security Agreement (this “Amendment”) is entered into as of December 13, 2010, by and between COMERICA BANK (“Bank”)
and VOCERA COMMUNICATIONS, INC. (“Borrower”). 
 RECITALS 

Borrower and Bank are parties to that certain Second Amended and Restated Loan and Security Agreement dated as of January 30, 2009,
as amended from time to time, including by that certain First Amendment to Second Amended and Restated Loan and Security Agreement dated as of February 9, 2010 (the “Agreement”). The parties desire to amend the Agreement in accordance with
the terms of this Amendment. 
 NOW, THEREFORE, the parties agree as follows: 

1. The following defined terms in Section 1.1 of the Agreement hereby are added, amended or restated as follows: 

“Revolving Maturity Date” means January 28, 2012. 

“Term Availability End Date” means June 3, 2011. 
 “Term Line” means a Credit Extension of up to Five Million Dollars ($5,000,000). 
 “Term Line Maturity Date” means December 13, 2013. 
 2.
Section 2.1(d)(i) is hereby amended and restated in its entirety to read as follows: 
 “(i) Subject to and upon the
terms and conditions of this Agreement, Bank agrees to make Term Advances to Borrower. On December 13, 2010, Bank shall be deemed to have made a Term Advance to Borrower in the amount of Nine Hundred Sixty Two Thousand Nine Hundred Sixty Three
and 02/100 Dollars ($962,963.02) which shall be used to refinance all outstanding Obligations owing from Borrower to Bank. Thereafter, Borrower may request Term Advances at any time until the Term Availability End Date. The aggregate outstanding
amount of Term Advances shall not exceed the Term Line.” 
 3. Section 2.1(d)(ii) is hereby amended and restated in
its entirety to read as follows: 
 “(ii) Interest shall accrue from the date of each Term Advance at the rate specified in
Section 2.3(a), and shall be payable in accordance with Section 2.3(c). Any Term Advances that are outstanding on the Term Availability End Date shall be payable in thirty (30) equal monthly installments of principal, plus all accrued
interest, beginning on June 30, 2011 and continuing on the same day of each month thereafter through the Term Maturity Date, at which time all amounts due in connection with Term Advances made under this Section 2.1(d) shall be immediately
due and payable. Term Advances, once repaid, may not be reborrowed. Borrower may prepay any Term Advances without penalty or premium.” 
 4. Section 6.2(vi) is hereby amended and restated in its entirety to read as follows: 
 “(vi) such budgets, sales projections, operating plans or other financial information as Bank may reasonably request from time to time, including, upon request annual financial projections approved
by Borrower’s board of directors.” 
 5. Section 6.2(a) is hereby amended and restated in its entirety to read as
follows: 

  
 - 1 -

 “(a) Within twenty (20) days after the last day of each month,
Borrower shall deliver to Bank a Borrowing Base Certificate signed by a Responsible Officer in substantially the form of Exhibit C hereto, together with aged listings by invoice date of accounts receivable and accounts payable;”

 6. Section 6.7 is hereby amended and restated in its entirety to read as follows: 

“6.7 Financial Covenants. Borrower shall at all times maintain the following financial ratios and covenants:

 (a) Adjusted Quick Ratio. Borrower shall at all times, measured on a monthly basis, maintain a ratio of Cash held at
Bank or at Bank’s Affiliates subject to account control agreements in favor of Bank plus Eligible Accounts to Current Liabilities plus (to the extent not already included therein) all Indebtedness to Bank (excluding any amounts outstanding in
connection with Automated Clearing House transactions) less the current portion of Deferred Revenue of at least 1.10 to 1.00. 

(b) Net Income. Quarterly Net Income of not less than the following: 

 

					
	 Measuring Period
	  	Minimum Net Income	 
	 Quarter Ending 9/30/10
	  	$	100,000	  
	 Quarter Ending 12/31/10
	  	$	200,000	  
	 Quarter Ending 3/31/11
	  	$	100,000	  
	 Quarter Ending 6/30/11
	  	$	250,000	  
	 Quarter Ending 9/30/11
	  	$	500,000	  
	 Quarter Ending 12/31/11
	  	$	500,000	  

 Bank reserves the right to reset covenant levels for 2012 and beyond based on Borrower’s financial
performance.” 
 7. Exhibit D to the Agreement is hereby replaced with Exhibit D attached hereto. 

8. The defined term “Applicable Margin” in Exhibit E to the Agreement is hereby amended and restated in its entirety to read as
follows: 
 “Applicable Margin” means (i) one percent (1.00%) per annum with respect to Advances and
(ii) one and one half percent (1.50%) per annum with respect to Term Advances. 
 9. Bank hereby consents to Borrower
acquiring one hundred percent (100%) of the issued and outstanding equity securities of Wallace Wireless for an aggregate purchase price not to exceed Two Million Five Hundred Thousand Dollars ($2,500,000) and hereby waives any violation of
Section 7.3 of the Agreement that may occur in connection therewith. 
 10. No course of dealing on the part of Bank or its
officers, nor any failure or delay in the exercise of any right by Bank, shall operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of any such right. Bank’s failure at any time
to require strict performance by Borrower of any provision shall not affect any right of Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in writing signed by an officer of Bank. 

  
 - 2 -

 11. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as
defined in the Agreement. The Agreement, as amended hereby, shall be and remain in full force and effect in accordance with its respective terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the
execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. 

12. Borrower represents and warrants that the Representations and Warranties contained in the Agreement are true and correct as of the
date of this Amendment, and that no Event of Default has occurred and is continuing. 
 13. As a condition to the effectiveness
of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following: 
 (a)
this Amendment, duly executed by Borrower; 
 (b) an officer’s certificate of Borrower with respect to
incumbency and resolutions authorizing the execution and delivery of this Amendment; 
 (c) a renewal fee in the
amount of Ten Thousand Dollars ($10,000) with respect to the Revolving Line, which may be debited from any of Borrower’s accounts; 
 (d) a facility fee in the amount of Fifteen Thousand Dollars ($15,000) with respect to the Term Line, which may be debited from any of Borrower’s accounts; 

(e) all reasonable Bank Expenses incurred through the date of this Amendment, which may be debited from any of
Borrower’s accounts; and 
 (f) such other documents, and completion of such other matters, as Bank may
reasonably deem necessary or appropriate. 
 14. This Amendment may be executed in two or more counterparts, each of which shall
be deemed an original, but all of which together shall constitute one instrument. 

  
 - 3 -

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	VOCERA COMMUNICATIONS, INC.
		
	By:.	 	/s/ Martin J. Silver
	Title:	 	Chief Financial Officer
	
	COMERICA BANK
		
	By:.	 	/s/ illegible
	Title:	 	SVP

 [Signature Page to Second Amendment to Second Amended and Restated Loan & Security

 Agreement] 

 EXHIBIT D 
 COMPLIANCE CERTIFICATE 
  

			
	TO:	  	COMERICA BANK
		
	FROM:	  	VOCERA COMMUNICATIONS, INC.

 The undersigned authorized officer of VOCERA COMMUNICATIONS, INC. hereby certifies that in accordance
with the terms and conditions of the Second Amended and Restated Loan and Security Agreement between Borrower and Bank (the “Agreement”), (i) Borrower is in complete compliance for the period ending
                     with all required covenants except as noted below and (ii) all representations and warranties of Borrower stated in
the Agreement are true and correct as of the date hereof. Attached herewith are the required documents supporting the above certification. The Officer further certifies that these are prepared in accordance with Generally Accepted Accounting
Principles (GAAP) and are consistently applied from one period to the next except as explained in an accompanying letter or footnotes. 
 Please indicate compliance status by circling Yes/No under “Complies” column. 
  

											
	 Reporting Covenant
	  	 Required
	  	Complies	 
	 Monthly financial statements, Orders and backlog report
	  	Monthly within 20 days	  	 	Yes	  	  	 	No	  
	 Annual (CPA Audited)
	  	August 31	  	 	Yes	  	  	 	No	  
	 10K and 10Q
	  	(as applicable)	  	 	Yes	  	  	 	No	  
	 A/R & A/P Agings, Borrowing Base
	  	Monthly within 20 days	  	 	Yes	  	  	 	No	  
	 Cert. Compliance Cert.
	  	Monthly within 20 days	  	 	Yes	  	  	 	No	  
	 A/R Audit
	  	Initial and Semi-Annual	  	 	Yes	  	  	 	No	  
	 Annual Projections
	  	Upon Request	  	 	Yes	  	  	 	No	  
	 Total amount of Borrower’s cash and investments maintained with Bank and Bank Affiliates
	  	All cash and investments other than the Permitted Foreign Accounts	  	 	Yes	  	  	 	No	  

  

															
	 Financial Covenant
	  	Required	  	Actual	 	  	Complies	 
	 Measured on a Monthly Basis:
	  		  				  				  			
	 Minimum Adjusted Quick Ratio
	  	1.10:1.00	  	 	______:1.00	  	  	 	Yes	  	  	 	No	  
	 Measured on a Quarterly Basis:
	  		  				  				  			
	 Minimum Net Income
	  	See attached chart	  	$	_________	  	  	 	Yes	  	  	 	No	  

  

									
	 Comments Regarding Exceptions: See

Attached.
	  	BANK USE ONLY
		  	 Received by:
	  	 
	 Sincerely,
	  		  	AUTHORIZED SIGNER
			
		  	 Date:
	  	 
			
	 	  	 Verified:
	  	 
	 SIGNATURE
	  		  	AUTHORIZED SIGNER
			
	 	  	 Date:
	  	 
	 TITLE
	  		  		  		  	
				
	 	  	Compliance Status	  	Yes	  	No
	 DATE
	  		  		  		  	

  
 Exihibit D
– Page 1 

 Net Income Requirements 

 

					
	 Measuring Period
	  	Minimum Net Income	 
	 Quarter Ending 9/30/10
	  	$	100,000	  
	 Quarter Ending 12/31/10
	  	$	200,000	  
	 Quarter Ending 3/31/11
	  	$	100,000	  
	 Quarter Ending 6/30/11
	  	$	250,000	  
	 Quarter Ending 9/30/11
	  	$	500,000	  
	 Quarter Ending 12/31/11
	  	$	500,000	  

  
 Exihibit D
– Page 2 

 Corporation Resolutions and Incumbency Certification 

Authority to Procure Loans 

 
 I certify that I am the duly elected and qualified
Secretary of VOCERA COMMUNICATIONS, INC.; that the following is a true and correct copy of resolutions duly adopted by the Board of Directors of the Corporation in accordance with its bylaws and applicable statutes. 

Copy of Resolutions: 
 Be it Resolved,
That: 
  

	15.	Any one (1) of the following Chairman , CEO , CFO (insert titles only) of the Corporation are/is authorized, for, on behalf of, and in the name of the
Corporation to: 

  

	 	(a)	Negotiate and procure loans, letters of credit and other credit or financial accommodations from Comerica Bank (“Bank”), a Texas banking association,
including, without limitation, that certain Second Amended and Restated Loan and Security Agreement dated as of January 30, 2009, as may subsequently be amended from time to time, including by that certain First Amendment to Amended and
Restated Loan and Security Agreement dated as of February 19, 2010 and that certain Second Amendment to Amended and Restated Loan and Security Agreement dated as of December 13, 2010; 

 

	 	(b)	Discount with the Bank, commercial or other business paper belonging to the Corporation made or drawn by or upon third parties, without limit as to amount;

  

	 	(c)	Purchase, sell, exchange, assign, endorse for transfer and/or deliver certificates and/or instruments representing stocks, bonds, evidences of Indebtedness or other
securities owned by the Corporation, whether or not registered in the name of the Corporation; 

  

	 	(d)	Give security for any liabilities of the Corporation to the Bank by grant, security interest, assignment, lien, deed of trust or mortgage upon any real or personal
property, tangible or intangible of the Corporation; and 

  

	 	(e)	Execute and deliver in form and content as may be required by the Bank any and all notes, evidences of Indebtedness, applications for letters of credit, guaranties,
subordination agreements, Second Amended and Restated Loan and Security Agreements, financing statements, assignments, liens, deeds of trust, mortgages, trust receipts and other agreements, instruments or documents to carry out the purposes of these
Resolutions, any or all of which may relate to all or to substantially all of the Corporation’s property and assets. 

  

	16.	Said Bank be and it is authorized and directed to pay the proceeds of any such loans or discounts as directed by the persons so authorized to sign, whether so payable
to the order of any of said persons in their individual capacities or not, and whether such proceeds are deposited to the individual credit of any of said persons or not; 

 

	17.	Any and all agreements, instruments and documents previously executed and acts and things previously done to carry out the purposes of these Resolutions are ratified,
confirmed and approved as the act or acts of the Corporation. 

  

	18.	These Resolutions shall continue in force, and the Bank may consider the holders of said offices and their signatures to be and continue to be as set forth in a
certified copy of these Resolutions delivered to the Bank, until notice to the contrary in writing is duly served on the Bank (such notice to have no effect on any action previously taken by the Bank in reliance on these Resolutions).

  
 - 1 -

	19.	Any person, corporation or other legal entity dealing with the Bank may rely upon a certificate signed by an officer of the Bank to effect that these Resolutions and
any agreement, instrument or document executed pursuant to them are still in full force and effect and binding upon the, Corporation. 

  

	20.	The Bank may consider the holders of the offices of the Corporation and their signatures, respectively, to be and continue to be as set forth in the Certificate of the
Secretary of the Corporation until notice to the contrary in writing is duly served on the Bank. 

 I further certify that the
above Resolutions are in full force and effect as of the date of this Certificate; that these Resolutions and any borrowings or financial accommodations under these Resolutions have been properly noted in the corporate books and records, and have
not been rescinded, annulled, revoked or modified; that neither the foregoing Resolutions nor any actions to be taken pursuant to them are or will be in contravention of any provision of the articles of incorporation or bylaws of the Corporation or
of any agreement, indenture or other instrument to which the Corporation is a party or by which it is bound; and that neither the articles of incorporation nor bylaws of the Corporation nor any agreement, indenture or other instrument to which the
Corporation is a party or by which it is bound require the vote or consent of shareholders of the Corporation to authorize any act, matter or thing described in the foregoing Resolutions. 
 I further certify that the following named persons have been duly elected to the offices set opposite their respective names, that they continue to hold these offices at the present time, and that the
signatures which appear below are the genuine, original signatures of each respectively: 
 (PLEASE SUPPLY GENUINE SIGNATURES
OF AUTHORIZED SIGNERS BELOW) 
  

					
	NAME (Type or Print)	 	TITLE	 	SIGNATURE
			
	Robert Zollars	 	Chairman & CEO	 	/s/ Robert Zollars
			
	Martin Silver	 	Secretary & CFO	 	/s/ Martin J. Silver

 In Witness Whereof, I have affixed my name as Secretary and have caused the corporate seal (where available) of said
Corporation to be affixed on December 13, 2010. 
  

	
	/s/ Martin J. Silver
	Secretary Martin J. Silver

  

			
	 The Above Statements are Correct.    
	 	/s/ Vice President, Operations
		 	SIGNATURE OF OFFICER OR DIRECTOR OR, IF NONE. A SHAREHOLDER OTHER THAN SECRETARY WHEN SECRETARY IS AUTHORIZED TO SIGN ALONE.

 Failure to complete the above when the Secretary is authorized to sign alone shall constitute a certification by the
Secretary that the Secretary is the sole Shareholder, Director and Officer of the Corporation. 

  
 - 2 -

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