Document:

EX-10.2

 Exhibit 10.2 

AMENDED AND RESTATED BUSINESS FINANCING AGREEMENT 
  

							
	 Borrower:
	 	 ARTERIS, INC.
 595 Millich Drive Suite
200
 Campbell, CA 95008
	  	 Lender:
	  	 WESTERN ALLIANCE BANK, an Arizona corporation

55 Almaden Boulevard, Suite 100
 San Jose, CA 95113

 RECITALS 

A. Lender and Borrower have previously entered into that certain Business Financing Agreement dated as of August 3, 2015, as amended from
time to time (the “Original Credit Agreement”). 
 B. From and after the date hereof, the Original Credit Agreement shall be
amended and restated in its entirety in accordance with the terms and provisions hereof and any amounts outstanding prior to the restatement of the Original Credit Agreement shall be governed under the terms and provisions hereof. 

C. Lender and Borrower desire to amend the terms and conditions of the Original Credit Agreement to, among other things, provide for a
revolving facility on the terms and conditions set forth herein (the “Revolver”). The proceeds of the initial Advance under the Revolver will be used to repay in full the total amount outstanding under the Original Credit Agreement. 

This AMENDED AND RESTATED BUSINESS FINANCING AGREEMENT, dated as of December 16, 2020, is made and entered into between WESTERN ALLIANCE
BANK, AN ARIZONA CORPORATION (“Lender”) and ARTERIS, INC., a Delaware corporation (“Borrower”) on the following terms and conditions: 

1. REVOLVING CREDIT LINE. 
 1.1 Receivables Advances. Subject to
the terms and conditions of this Agreement, from the date on which this Agreement becomes effective until the Maturity Date, Lender will make Receivables Advances to Borrower not exceeding the Credit Limit or the Borrowing Base, whichever is less;
provided that in no event shall Lender be obligated to make any Receivables Advance that results in an Overadvance or while any Overadvance is outstanding. Amounts borrowed under this Section may be repaid and subject to the terms and conditions
hereof reborrowed during the term of this Agreement. It shall be a condition to each Receivables Advance that (a) an Advance Request acceptable to Lender has been received by Lender, (b) all of the representations and warranties set forth
in Section 3 are true and correct in all material respects on the date of such Receivables Advance as though made at and as of each such date, and (c) no Default or Event of Default has occurred and is continuing, or would result from such
Receivables Advance. 
 1.2 Advance Requests. Borrower may request that Lender make a Receivables Advance by delivering to Lender an Advance Request
therefor and Lender shall be entitled to rely on all the information provided by Borrower to Lender on or with the Advance Request. Lender may honor Advance Requests, instructions or repayments given by any Authorized Person. So long as all of the
conditions for a Receivables Advance set forth herein have been satisfied, Lender shall fund such Receivables Advance into Borrower’s Account within one business day of Lender’s receipt of the applicable Advance Request. 

1.3 Due Diligence. Lender may audit Borrower’s Receivables and any and all records pertaining to the Collateral, at Lender’s sole discretion and at
Borrowers expense; provided that so long as no Event Default has occurred and is continuing the expense of such audits shall not exceed $5,000 per audit. Lender may at any time and from time to time contact Account Debtors and other persons
obligated or knowledgeable in respect of Receivables to confirm the Receivable Amount of such Receivables, to determine whether Receivables constitute Eligible Receivables, and for any other purpose in connection with this Agreement. If any of the
Collateral or Borrower’s books or records pertaining to the Collateral are in the possession of a third party, Borrower authorizes that third party to permit Lender or its agents to have access to perform inspections or audits thereof and to
respond to Lender’s requests for information concerning such Collateral and records. 

 1.4 Collections. 

At Lender’s option, Lender may either (i) transfer all Collections deposited into the Collection Account to Borrower’s Account, or
(ii) apply the Collections deposited into the Collection Account to the outstanding Account Balance, in either case, within three business days of the date received; provided that upon the occurrence and during the continuance of any Default or
Event of Default, Lender may apply all Collections to the Obligations in such order and manner as Lender may determine. Lender has no duty to do any act other than to apply such amounts as required above. If an item of Collections is not honored or
Lender does not receive good funds for any reason, any amount previously transferred to Borrower’s Account or applied to the Account Balance shall be reversed as of the date transferred or applied, as applicable, and, if applied to the Account
Balance, the Finance Charge will accrue as if the Collections had not been so applied. Lender shall have, with respect to any goods related to the Receivables, all the rights and remedies of an unpaid seller under the UCC and other applicable law,
including the rights of replevin, claim and delivery, reclamation and stoppage in transit. 
 1.5 Receivables Activity Report. Within 30 days after the end
of each Month End, Lender shall send to Borrower a report covering the transactions for the prior billing period, including the amount of all Advances, Collections, Adjustments, Finance Charges, and other fees and charges. The accounting shall be
deemed correct and conclusive unless Borrower makes written objection to Lender within 30 days after Lender sends the accounting to Borrower. 
 1.6
Adjustments. In the event any Adjustment or dispute is asserted by any Account Debtor, Borrower shall promptly advise Lender and shall, subject to Lender’s approval, resolve such disputes and advise Lender of any Adjustments; provided that in
no case will the aggregate Adjustments made with respect to any Receivable exceed 2% of its original Receivable Amount unless Borrower has obtained the prior written consent of Lender (such consent not to be unreasonably withheld, conditioned or
delayed while no Event of Default has occurred and is continuing). So long as any Obligations are outstanding, Lender shall have the right, at any time, to take possession of any rejected, returned, or recovered personal property. If such possession
is not taken by Lender, Borrower is to resell it for Lender’s account at Borrower’s expense with the proceeds made payable to Lender. While Borrower retains possession of any returned goods, Borrower shall segregate said goods and mark
them as property of Lender. 
 1.7 Recourse; Maturity. Advances and the other Obligations shall be with full recourse against Borrower. On the Maturity
Date, Borrower will pay all then outstanding Advances and other Obligations to Lender or such earlier date as shall be herein provided. 
 1.8 International
Sublimit. 
 1.8(a) Letter of Credit Line. Subject to the terms and conditions of this Agreement and in an amount not to exceed the
International Sublimit, Lender hereby agrees to issue or cause an Affiliate to issue letters of credit for the account of Borrower (each, a “Letter of Credit” and collectively, “Letters of Credit”) from time to time; provided
that (a) the Letter of Credit Obligations will be treated as Advances for purposes of determining availability under the Credit Limit and shall decrease, on a
dollar-for-dollar basis, the amount available for other Advances. The form and substance of each Letter of Credit shall be subject to approval by Lender, in its sole
discretion. Each Letter of Credit shall be subject to the additional terms of the Letter of Credit agreements, applications and any related documents required by Lender in connection with the issuance thereof (each, a “Letter of Credit
Agreement”). Each draft paid under any Letter of Credit shall be repaid by Borrower in accordance with the provisions of the applicable Letter of Credit Agreement, No Letter of Credit shall be issued that results in an Overadvance or while any
Overadvance is outstanding. 

 1.8(b) Foreign Exchange Facility. Borrower may enter into foreign exchange forward contracts
with Lender under which Borrower commits to purchase from or sell to Lender a set amount of foreign currency more than one business day after the contract date (the “FX Forward Contract”). The total FX Forward Contracts at any one time may
not exceed 10 times the amount of the FX Sublimit. Ten percent (10%) of the amount of each outstanding FX Forward Contract shall be treated as an Advance for purposes of determining availability under the Credit Limit and shall decrease, on a dollar-for-dollar basis, the amount available for other Advances. Lender may terminate the FX Forward Contracts if an Event of Default occurs. Each FX Forward Contract shall
be subject to additional terms set forth in the applicable FX Forward Contract or other agreements executed in connection with the foreign exchange facility. 

Upon the Maturity Date, all obligations under the International Sublimit shall be secured by unencumbered cash on terms acceptable to Lender if the term of
this Business Financing Agreement is not extended by Lender. 
 1.9 Intentionally Omitted. 

1.10 Intentionally omitted. 
 1.11 Overadvances. Upon any
occurrence of an Overadvance, Borrower shall immediately pay down the Receivables Advances such that, after giving effect to such payments, no Overadvance exists. 

1.12 Growth Capital Advances. 
 (a) Subject to the terms and
conditions hereof, Lender made a term loan (“Growth Capital Advance”) to Borrower on the Growth Capital Advance Closing Date, in an amount equal to the Growth Capital Advances Commitment. As used herein, “Growth Capital Advance
Closing Date” means the date when each of the conditions to effectiveness of the Business Financing Modification Agreement dated November 7, 2018, which conditions have been fully incorporated and made a part hereof, have been fulfilled to
the satisfaction of Lender, and Lender has deposited the proceeds of the Growth Capital Advance into Borrowers’ deposit account maintained with Lender. The Growth Capital Advance may not be re-borrowed
after repayment is made by Borrower. The foregoing to the contrary notwithstanding. Lender shall have no further obligation to make any Growth Capital Advance hereunder. It was an additional condition to each Growth Capital Advance that (x) all
of the representations and warranties set forth in Section 3 are true and correct on the date of such Growth Capital Advance as though made at and as of each such date, and (y) no Default has occurred and is continuing, or would result
from such Growth Capital Advance. On the Growth Capital Advance Closing Date, the Growth Capital Advances Commitment terminates and Lender’s obligation to make further Growth Capital Advances to Borrower shall cease. 

(b) The Advance Request for a Growth Capital Advance shall be by a duly authorized officer of Borrower. The Advance Request for the Growth Capital Advance was
deemed to be a representation by Borrower that (i) all of the representations and warranties set forth in Section 3 are true and correct in all material respects on the date of such Growth Capital Advance as though made at and as of each
such date, and (ii) no Default or Event of Default has occurred and is continuing, or would result from such Growth Capital Advance. 
 (c) The
outstanding principal balance of the Growth Capital Advance shall be due and payable as follows: Interest only beginning the tenth calendar day of the first month day until November 7, 2021, and on the tenth calendar day of the first month day
thereafter, a principal amount equal to $50,000.00. 
 (d) On the Growth Capital Advances Maturity Date, Borrower shall pay in full the outstanding
principal balance, and all accrued and unpaid interest under the Growth Capital Advance. Borrower may prepay the Growth Capital Advance at any time, in whole or in part, without penalty or premium. All principal amounts so repaid or prepaid may not
be reborrowed. All prepayments shall be applied toward scheduled principal reductions payments owing under this Section 1.12 in inverse order of maturity. 

 2. FEES AND FINANCE CHARGES. 

2.1 Finance Charges. Lender may, but is not required to, deduct the amount of accrued Finance Charge from Collections received by Lender. The accrued and
unpaid Finance Charge shall be due and payable within 10 calendar days after each Month End during the term hereof. 
 2.2 Fees. 

(a) Facility Fee. Borrower shall pay the Facility Fee to Lender promptly upon the execution of this Agreement and annually thereafter. 

(b) Letter of Credit Fees. Borrower shall pay to Lender fees upon the issuance of each Letter of Credit, upon the payment or negotiation of each draft under
any Letter of Credit and upon the occurrence of any other activity with respect to any Letter of Credit (including without limitation, the transfer, amendment or cancellation of any Letter of Credit) determined in accordance with Lender’s
standard fees and charges then in effect for such activity. 
 (c) Due Diligence Fee. Borrower shall pay the Due Diligence Fee to Lender promptly upon the
execution of this Agreement and annually thereafter. 
 (d) FX Forward Contract Fees. Borrower shall pay to Lender fees in connection with the FX Forward
Contracts as determined in accordance with Lender’s standard fees and charges then in effect for such activity. 
 3. REPRESENTATIONS AND WARRANTIES.
Borrower represents and warrants: 
 3.1 No representation, warranty or other statement of Borrower in any certificate or written statement given to Lender
contains any untrue statement of a material fact or omits to state a material fact necessary to make the statement contained in the certificates or statement not misleading. 

3.2 Borrower is duly existing and in good standing in its state of formation and qualified and licensed to do business in, and in good standing in, any state
in which the conduct of its business or its ownership of property requires that it be qualified. 
 3.3 The execution, delivery and performance of this
Agreement has been duly authorized, and does not conflict with Borrower’s organizational documents, nor constitute an Event of Default under any material agreement by which Borrower is bound. Borrower is not in default under any material
agreement to which or by which it is bound. 
 3.4 Borrower has good title to the Collateral and all inventory is in all material respects of good and
marketable quality, free from material defects. 
 3.5 Borrower’s name, form of organization, chief executive office, and the place where the records
concerning all Receivables and Collateral are kept is set forth at the beginning of this Agreement, Borrower is located at its address for notices set forth in this Agreement: 

3.6 If Borrower owns, holds or has any interest in, any copyrights (whether registered, or unregistered), patents or trademarks, and licenses of any of the
foregoing, such interest has been specifically disclosed and identified to Lender in writing. 
 4. MISCELLANEOUS PROVISIONS. Borrower will: 

4.1 Maintain its corporate existence and good standing in its jurisdictions of incorporation and maintain its qualification in each jurisdiction necessary to
Borrower’s business or operations and not merge or consolidate with or into any other business organization, or acquire all or substantially all of the capital stock or property of a third party, unless (i) any such acquired entity becomes
a “borrower” under this Agreement and (ii) Lender has previously consented to the applicable transaction in writing. 

 4.2 Give Lender at least 20 days prior written notice of changes to its name, organization, chief executive
office or location of records. 
 4.3 Pay all its taxes including gross payroll, withholding and sales taxes when due and will deliver satisfactory evidence
of payment to Lender if requested: provided that Borrower shall not be required to pay taxes which are being disputed in good faith with adequate reserves. 

4.4 Maintain: 
 (a) insurance reasonably satisfactory to Lender
as to amount, nature and carrier covering property damage (including loss of use and occupancy) to any of Borrower’s properties, business interruption insurance, public liability insurance including coverage for contractual liability, product
liability and workers’ compensation, and any other insurance which is usual for Borrower’s business. Each such policy shall provide for at least thirty (30) days prior notice to Lender of any cancellation thereof. 

(b) all risk property damage insurance policies (including without limitation windstorm coverage, and hurricane coverage as applicable) covering the tangible
property comprising the collateral. Each insurance policy must be for the full replacement cost of the collateral and include a replacement cost endorsement or in an amount reasonably acceptable to Lender. The insurance must be issued by an
insurance company reasonably acceptable to Lender and must include a lender’s loss payable endorsement in favor of Lender in a form reasonably acceptable to Lender. 

Upon the request of Lender, Borrower shall deliver to Lender a copy of each insurance policy, or, if permitted by Lender, a certificate of insurance listing
all insurance in force. 
 4.5 Immediately transfer and deliver to the Collections Account all Collections Borrower receives. 

4.6 Not create, incur, assume, or be liable for any indebtedness, other than Permitted Indebtedness. 

4.7 Immediately notify Lender if Borrower hereafter obtains any interest in any copyrights, patents, trademarks or licenses that are significant in value or
are material to the conduct of its business. 
 4.8 Provide the following financial information and statements in form and content reasonably acceptable to
Lender, and such additional information as reasonably requested by Lender from time to time. Lender has the right to require Borrower to deliver financial information and statements to Lender more frequently than otherwise provided below, and to use
such additional information and statements to measure any applicable financial covenants in this Agreement. 
 (a) No later than 30 days after the end of
each month (including the last period in each fiscal year), monthly financial statements of Borrower, certified and dated by an authorized financial officer. The statements shall be prepared on a consolidated basis. 

(b) Promptly, upon sending or receipt, copies of any management letters and correspondence relating to management letters, sent or received by Borrower to or
from Borrower’s auditor. If no management letter is prepared, Borrower shall, upon Lender’s request, obtain a letter from such auditor stating that no deficiencies were noted that would otherwise be addressed in a management letter. 

(c) If applicable, copies of the Form 10-K Annual Report, Form 10-Q Quarterly
Report and Form 8-K Current Report for Borrower concurrent with the date of filing with the Securities and Exchange Commission. 

(d) Financial projections, including an operating budget, covering a 12 month period and specifying the assumptions used in creating the projections, no later
than 30 days after the beginning of each fiscal year. 

 (e) Within 30 days of the end of each month, a compliance certificate of Borrower, signed by an authorized
financial officer and setting forth (i) the information and computations (in sufficient detail) to establish compliance with all financial covenants at the end of the period covered by the financial statements then being furnished and
(ii) whether there existed as of the date of such financial statements and whether there exists as of the date of the certificate, any default under this Agreement and, if any such default exists, specifying the nature thereof and the action
Borrower is taking and proposes to take with respect thereto. 
 (g) Within 15 days after the end of each calendar month, a borrowing base certificate, in
form and substance satisfactory to Lender, setting forth Eligible Receivables and Receivable Amounts thereof as of the last day of the preceding calendar month. 

(h) Within 15 days after the end of each, calendar month, a detailed aging of Borrower’s Receivables by invoice or a summary aging by account debtor,
together with payable aging, cash receipts journal, sales journal, a foreign withholding tax report and such other matters as Lender may reasonably request. 

(i) Within 30 days after the end of each calendar month, Borrower’s deferred revenue report shall be due to Lender in a form an substance acceptable to
Lender, in its sole discretion. 
 (j) Promptly upon Lender’s request, such other books, records, statements, lists of property and accounts, budgets,
forecasts or reports as to Borrower and as to each guarantor of Borrower’s obligations to Lender as Lender may reasonably request. 
 (k) Within 180
days of the fiscal year end and only if required by the Borrower’s Board of Directors, annual consolidated financial statements of Borrower, certified and dated by an authorized financial officer; provided however, for the fiscal year ended
December 31, _____, such financial statements shall be provided to Lender no later than June 30, _____. These financial statements must be audited by a Certified Public Accountant acceptable to Lender. 

(l) Within 15 days after the end of each calendar month, copies of all account statements with respect to all of Borrower’s depository, operating and
investment accounts maintained outside of Lender. 
 4.9 Maintain its primary depository and operating accounts with Lender and, in the case of any deposit
accounts not maintained with Lender, with the exception of thirty percent (30%) of cash for international banking purposes, grant to Lender a first priority perfected security interest in and “control” (within the meaning of
Section 9104 of the UCC) of such deposit account pursuant to documentation acceptable to Lender. 
 4.10 Promptly provide to Lender such additional
information and documents regarding the finances, properties, business or books and records of Borrower or any guarantor as Lender may reasonably request. 

4.11 Maintain Borrower’s financial condition as follows in accordance with GAAP and used consistently with prior practices (except to the extent modified
by the definitions herein): 
 (a) Asset Coverage Ratio, tested as of the end of each month, not at any time less than 1.75 to 1.00. 

(b) Unrestricted cash maintained at all times in its accounts with Lender of at: least two-thirds (2/3) of the
outstanding principal balance under the Growth Capital Advances Commitment, tested as of the end each month. 
 4.12 Except with respect to liabilities
existing as of the date of this Agreement, not make or contract to make, without Lender’s prior written consent, capital expenditures, including leasehold improvements, in any fiscal year in excess of an additional $500,000.00 or incur
additional liability for rentals of property (including both real and personal property) in an amount which, together with capital expenditures, shall in any fiscal year exceed such sum. 

 5. SECURITY INTEREST. To secure the prompt payment and performance to Lender of all of the Obligations,
Borrower hereby grants to Lender a continuing security interest in the Collateral. Borrower is not authorized to sell assign, transfer or otherwise convey any Collateral without Lender’s prior written consent, except for the sale of finished
inventory in Borrower’s usual course of business, worn-out or obsolete equipment, non-exclusive licenses and similar arrangement for the use of the property of
Borrower in the ordinary course of business, and Permitted Liens. Borrower agrees to sign any instruments and documents reasonably requested by Lender to evidence, perfect, or protect the interests of Lender in the Collateral. Borrower agrees to
deliver to Lender the originals of all instruments, chattel paper and documents evidencing or related to Receivables and Collateral. Borrower shall not grant or permit any lien or security in the Collateral or any interest therein other than
Permitted Liens. 
 6. POWER OF ATTORNEY. Borrower irrevocably appoints Lender and its successors and as true and lawful attorney in fact, and authorizes
Lender (a) to, whether or not there has been an Event of Default, (i) demand, collect, receive, sue, and give releases to any Account Debtor for the monies due or which may become due upon or with respect to the Receivables and to
compromise, prosecute, or defend any action, claim, case or proceeding relating to the Receivables, including the filing of a claim or the voting of such claims in any bankruptcy case, all in Lender’s name or Borrower’s name, as Lender may
choose; (ii) prepare, file and sign Borrower’s name on any notice, claim, assignment, demand, draft, or notice of or satisfaction of lien or mechanics’ lien or similar document; (iii) notify all Account Debtors with respect to
the Receivables to pay Lender directly; (iv) receive and open all mail addressed to Borrower for the purpose of collecting the Receivables; (v) endorse Borrower’s name on any checks or other forms of payment on the Receivables;
(vi) execute on behalf of Borrower any and all instruments, documents, financing statements and the like to perfect Lender’s interests in the Receivables and Collateral; (vii) debit any Borrower’s deposit accounts maintained with
Lender for any and all Obligations due under this Agreement; and (viii) do all acts and things necessary or expedient, in furtherance of any such purposes, and (b) to, upon the occurrence and during the continuance of an Event of Default,
sell, assign, transfer, pledge, compromise, or discharge the whole or any part of the Receivables. Upon the occurrence and continuation of an Event of Default, all of the power of attorney rights granted by Borrower to Lender hereunder shall be
applicable with respect to all Receivables and all Collateral. 
 7. DEFAULT AND REMEDIES. 

7.1 Events of Default. The occurrence of any one or more of the following, for which Borrower has not obtained Lender’s prior written consent, shall
constitute an Event of Default hereunder. 
 (a) Failure to Pay. Borrower fails to make a payment when due under this Agreement. 

(b) Lien Priority. Lender fails to have an enforceable first lien (except for liens described in clause (c) of the definition of Permitted Indebtedness
and any other prior liens to which Lender has consented in writing) on or security interest in the Collateral. 
 (c) False Information. Borrower (or any
guarantor) has given Lender any materially false or misleading information or representations or has failed to disclose any material fact relating to the subject matter of this Agreement. 

(d) Death. Borrower or any guarantor dies or becomes legally incompetent, or if Borrower is a partnership, any general partner dies or becomes legally
incompetent. 
 (e) Bankruptcy. Borrower (or any guarantor) files a bankruptcy petition, a bankruptcy petition is filed against Borrower (or any guarantor)
or Borrower (or any guarantor) makes a general assignment for the benefit of creditors, and in the case of any involuntary petition, such proceeding is not dismissed or stayed within 45 days. 

(f) Receivers. A receiver or similar official is appointed for a substantial portion of Borrower’s (or any guarantor’s) business, or the business is
terminated. 

 (g) Judgments. Any judgments or arbitration awards are entered against Borrower (or any guarantor), or
Borrower (or any guarantor) enters into any settlement agreements with respect to any litigation or arbitration and the aggregate amount of all such judgments, awards, and agreements payable by Borrower exceeds $100,000. 

(h) Material Adverse Change. A material adverse change occurs, or is reasonably likely to occur, in Borrower’s (or any guarantor’s) business
condition (financial or otherwise), operations or, properties, taken as a whole, or ability to repay the Obligations. 
 (i) Cross-default. Any default
occurs under any agreement in connection with any credit in excess of $100,000 Borrower (or any guarantor) or any of Borrower’s Affiliates has obtained from anyone else or which Borrower (or any guarantor) or any of Borrower’s Affiliates
has guaranteed (other than trade amounts payable incurred in the ordinary course of business and not more than 60 days past due). 
 (j) Default under
Related Documents. Any default occurs under any guaranty, subordination agreement, security agreement, deed of trust, mortgage, or other document required by or delivered in connection with this Agreement or any such document is no longer in effect
(unless released by Lender). 
 (k) Other Agreements. Borrower (or any guarantor) or any of Borrower’s Affiliates fails to meet the conditions of, or
fails to perform any material obligation under any other agreement Borrower (or any guarantor) or any of Borrower’s Affiliates has with Lender or any Affiliate of Lender, after giving effect to any applicable cure or grace periods. 

(l) Change of Control. The holders of the capital ownership of Borrower as of the date hereof cease to own and control, directly and indirectly, at least 70%
of the capital ownership of Borrower. 
 (m) Other Breach Under Agreement. Borrower fails to meet the conditions of, or fails to perform any obligation
under, any term of this Agreement not specifically referred to above. 
 7.2 Remedies. During the occurrence of an Event of Default, (1) without
implying any obligation to do so, Lender may cease making Advances or extending any other financial accommodations to Borrower; (2) all or a portion of the Obligations shall be, at the option of and upon demand by Lender, or with respect to an
Event of Default described in Section 7.1(e), automatically and without notice or demand, due and payable in full; and (3) Lender shall have and may exercise all the rights and remedies under this Agreement and under applicable law,
including the rights and remedies of a secured party under the UCC, all the power of attorney rights described in Section 6 with respect to all Collateral, and the right to collect, dispose of, sell, lease, use, and realize upon all Receivables
and all Collateral in any commercially reasonable manner. 
 8. ACCRUAL OF INTEREST. All interest and finance charges hereunder calculated at an annual rate
shall be based on a year of 360 days, which results in a higher effective rate of interest than if a year of 365 or 366 days were used. Lender may charge interest, finance charges and fees based upon the projected amounts thereof as of the due dates
therefor, and adjust subsequent charges to account for the actual accrued amounts. If any amount due under Section 2.2, amounts due under Section 9, and any other Obligations not otherwise bearing interest hereunder is not paid when due,
such amount shall bear interest at a per annum rate equal to the Finance Charge Percentage until the earlier of (i) payment in good funds or (ii) entry of a trial judgment thereof, at which time the principal amount of any money judgment
remaining unsatisfied shall accrue interest at the highest rate allowed by applicable law. 
 9. FEES, COSTS AND EXPENSES; INDEMNIFICATION. Borrower will
pay to Lender upon demand all fees, costs and expenses (including reasonable fees of attorneys and professionals and their out-of-pocket costs and expenses) that Lender
incurs or may from time to time impose in connection with any of the following: (a) preparing, negotiating, administering, and enforcing this Agreement or any other agreement executed in connection herewith, including any amendments, waivers or
consents in connection with any of the foregoing, (b) any litigation or dispute (whether instituted by Lender, Borrower or any other person) in any way relating to the Receivables, the Collateral, this Agreement or any other agreement executed
in connection herewith or therewith, (c) enforcing any rights against Borrower or any 

 
guarantor, or any Account Debtor, (d) protecting or enforcing its interest in the Receivables or the Collateral, (e) collecting the Receivables and the Obligations, or (f) the
representation of Lender in connection with any bankruptcy case or insolvency proceeding involving Borrower, any Receivable, the Collateral, any Account Debtor, or any guarantor. Borrower shall indemnify and hold Lender harmless from and against any
and all claims, actions, damages, costs, expenses, and liabilities of any nature whatsoever arising in connection with any of the foregoing, except for any of the foregoing to the extent caused by Lender’s gross negligence or willful
misconduct. 
 10. INTEGRATION, SEVERABILITY WAIVER, CHOICE OF LAW, FORUM AND VENUE. 

10.1 This Agreement and any related security or other agreements required by this Agreement, collectively: (a) represent the sum of the understandings
and agreements between Lender and Borrower concerning this credit; (b) replace any prior oral or written agreements between Lender and Borrower concerning this credit; and (c) are intended by Lender and Borrower as the final, complete and
exclusive statement of the terms agreed to by them. In the event of any conflict between this Agreement and any other agreements required by this Agreement, this Agreement will prevail. If any provision of this Agreement is deemed invalid by reason
of law, this Agreement will be construed as not containing such provision and the remainder of the Agreement shall remain in full force and effect. Lender retains all of its rights, even if it makes an Advance after a default. If Lender waives an
Event of Default, it may enforce a later Event of Default. Any consent or waiver under, or amendment of, this Agreement must be in writing, and no such consent, waiver, or amendment shall imply any obligation by Lender to make any subsequent
consent, waiver, or amendment. 
 10.2 THIS AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF CALIFORNIA.
THE PARTIES HERETO AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER RELATED DOCUMENTS SHALL BE TRIED AND LITIGATED ONLY IN THE STATE AND FEDERAL COURTS LOCATED IN THE COUNTY OF SANTA CLARA, CALIFORNIA, OR,
AT THE SOLE OPTION OF LENDER, IN ANY OTHER COURT IN WHICH LENDER SHALL INITIATE LEGAL OR EQUITABLE PROCEEDINGS AND WHICH HAS JURISDICTION OVER THE SUBJECT MATTER AND PARTIES IN CONTROVERSY. EACH PARTY HERETO WAIVES ANY RIGHT TO ASSERT THE DOCTRINE
OF FORUM NON CONVENIENS OR TO OBJECT TO VENUE TO THE EXTENT ANY PROCEEDING IS BROUGHT IN ACCORDANCE WITH THIS SECTION AND STIPULATES THAT THE STATE AND FEDERAL COURTS LOCATED IN THE COUNTY OF SANTA CLARA, CALIFORNIA SHALL HAVE IN PERSONAM
JURISDICTION AND VENUE OVER EACH SUCH PARTY FOR THE PURPOSE OF LITIGATING ANY SUCH DISPUTE, CONTROVERSY, OR PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT, OR ANY OTHER RELATED DOCUMENTS. SERVICE OF PROCESS SUFFICIENT FOR PERSONAL
JURISDICTION IN ANY ACTION AGAINST THE BORROWER MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO ITS ADDRESS SPECIFIED FOR NOTICES PURSUANT TO SECTION 11. 

11. NOTICES; TELEPHONIC AND TELEFAX AUTHORIZATIONS. All notices shall be given to Lender and Borrower at the addresses or faxes set forth on the signature
page of this agreement and shall be deemed to have been delivered and received; (a) if mailed, three (3) calendar days after deposited in the United States mail, first class, postage pre-paid,
(b) one (1) calendar day after deposit with an overnight mail or messenger service; or (c) on the same date of confirmed transmission if sent by hand delivery, telecopy, telefax or telex, Lender may honor telephone or telefax instructions
for Advances or repayments given, or purported to be given, by any one of the Authorized Persons. Borrower will indemnify and hold Lender harmless from all liability, loss, and costs in connection with any act resulting from telephone or telefax
instructions Lender reasonably believes are made by any Authorized Person. This paragraph will survive this Agreement’s termination, and will benefit Lender and its officers, employees, and agents. 

 12. DEFINITIONS AND CONSTRUCTION. 

12.1 Definitions. In this Agreement; 
 “Account
Balance” means at any time the aggregate of the Receivables Advances outstanding as reflected on the records maintained by Lender, together with any past due Finance Charges thereon. 

“Account Debtor” has the meaning in the UCC and includes any person liable on any Receivable, including without limitation; any guarantor of any
Receivable and any issuer of a letter of credit or banker’s acceptance assuring payment thereof. 
 “Adjustments” means all discounts,
allowances, disputes, offsets, defenses, rights of recoupment rights of return, warranty claims, or short payments, asserted by or on behalf of any Account Debtor with respect to any Receivable. 

“Advance” means a Receivables Advance or a Growth Capital Advance, as the context requires, and made by Lender to Borrower under this Agreement.

 “Advances” means all Receivables Advances and the Growth Capital Advance. 

“Advance Rate” means 80% in the case of the Eligible Receivables, or such greater or lesser percentage as Lender may from time to time establish in
its sole discretion upon notice to Borrower. 
 “Advance Request” means a writing in form and substance reasonably satisfactory to Lender and
signed by an Authorized Person requesting (1) an Advance or (2) a Growth Capital Advance. 
 “Agreement” means this Business Financing
Agreement. 
 “Affiliate” means, as to any person or entity, any other person or entity directly or indirectly controlling or controlled by, or
under direct or indirect common control with, such person or entity. 
 “Asset Coverage Ratio” means all unrestricted cash and cash equivalents
maintained with Lender, plus Eligible Receivables, divided by the total amount of outstanding principal of all Obligations. 
 “Authorized Person”
means any one of the individuals authorized to sign on behalf of Borrower, and any other individual designated by any one of such authorized signers. 

“Borrower’s Account” means Borrower’s general operating account maintained with Lender, into which all Advances will be deposited unless
otherwise instructed by Borrower in writing. 
 “Borrowing Base” means at any time the sum of (i) the Eligible Receivable Amount multiplied
by the applicable Advance Rate minus (ii) any amounts outstanding under the International Sublimit minus (iii) such reserves as Lender may deem proper and necessary from time to time. 

“Collateral” means all of Borrower’s rights and interest in any and all personal property, whether now existing or hereafter acquired or
created and wherever located, and all products and proceeds thereof and accessions thereto, including but not limited to the following (collectively, the “Collateral”): (a) all accounts (including health care insurance receivables,)
chattel paper (including tangible and electronic chattel paper), inventory (including all goods held for sale or lease or to be furnished under a contract for service, and including returns and repossessions,) equipment (including all accessions and
additions thereto), instruments (including promissory notes), investment property (including securities and securities entitlements), documents (including negotiable documents), deposit accounts, letter of credit rights,

 
money, any commercial tort claim of Borrower which is now or hereafter identified by Borrower or Lender, general intangibles (including payment intangibles and software), goods (including
fixtures) and all of Borrower’s books and records with respect to any of the foregoing, and the computers and equipment containing said books and records; and (b) any and all cash proceeds and/or noncash proceeds thereof, including without
limitation, insurance proceeds, and all supporting obligations and the security therefore or for any right to payment. Notwithstanding the foregoing, the Collateral shall not include third party financed equipment permitted hereunder, to the extent
and for so long as a prohibition exists on the granting to Lender of a security interest in such finance equipment by the applicable third party lender in respect of such financed equipment provided however, that immediately upon termination of any
such prohibition, the Collateral shall thereafter be deemed to include such equipment, automatically and without further action by Borrower or Lender. 

“Collection Account” means the deposit account maintained with Lender which, pursuant to the Lockbox Agreement, all Collections received in the
Lockbox are to be deposited, and as to which Borrower has no right to withdraw funds. 
 “Collections” means all payments from or on behalf of an
Account Debtor with respect to Receivables. 
 “Compliance Certificate” means a certificate in the form attached as Exhibit A to this Agreement by
an Authorized Person that, among other things, the representations and, warranties set forth in this Agreement are true and correct in all material respects as of the date such certificate is delivered. 

“Credit Limit” means $2,000,000.00, which is intended to be the maximum amount of Receivables Advances at any time outstanding. 

“Default” means any Event of Default or any event that with notice, lapse of time or otherwise would constitute an Event of Default. 

“Due Diligence Fee” means a payment of an annual fee equal to $600 due upon the date of this Agreement and $600 due upon each anniversary thereof so
long as any Advance is outstanding or available hereunder. 
 “Eligible Receivable” means a Receivable that satisfies all of the following: 

(a) The Receivable has been created by Borrower in the ordinary course of Borrower’s business and without any obligation on the part of Borrower to
render any further performance with respect to such Receivable. 
 (b) There are no conditions which must be satisfied before Borrower is entitled to
receive payment of the Receivable, and the Receivable does not arise from COD sales, consignments or guaranteed sales. 
 (c) The Account Debtor upon the
Receivable does not claim any defense to payment of the Receivable, whether well founded or otherwise. 
 (d) The Receivable is not the obligation of an
Account Debtor who has asserted or may be reasonably be expected to assert any counterclaims or offsets against Borrower (including offsets for any “contra accounts” owed by Borrower to the Account Debtor for goods purchased by Borrower or
for services performed for Borrower). 
 (e) The Receivable represents a genuine obligation of the Account Debtor and to the extent any credit balances,
including tax withholdings, exist in favor of the Account Debtor, such credit balances shall be deducted in calculating the Receivable Amount. 
 (f)
Borrower has sent an invoice to the Account Debtor in the amount of the Receivable. 
 (g) Borrower is not prohibited by the laws of the state where the
Account Debtor is located from bringing an action in the courts of that state to enforce the Account Debtor’s obligation to pay the Receivable. Borrower has taken all appropriate actions to ensure access to the courts of the state where Account
Debtor is located, including, where necessary; the filing of a Notice of Business Activities Report or other similar filing with the applicable state agency or the qualification by Borrower as a foreign corporation authorized to transact business in
such state. 

 (h) The Receivable is owned by Borrower free of any title defects or any liens or interests of others except
the security interest in favor of Lender, and Lender has a perfected, first priority security interest in such Receivable. 
 (i) The Account Debtor on the
Receivable is not any of the following: (1) an employee, Affiliate, parent or subsidiary of Borrower, or an entity which has common officers or directors with Borrower; (2) the U.S. government or any agency or department of the U.S.
government unless Borrower complies with the procedures in the Federal Assignment of Claims Act of 1940 (41 U.S.C. §15) with respect to the Receivable, and the underlying contract expressly provides that neither the U.S. government nor any
agency or department thereof shall have the right of set-off against Borrower; (3) any person or entity located in a foreign country with the exception of Canada (but not including the province of Quebec)
unless (A) the Account Debtor on the Receivable is Samsung, LG Electronics, Renesas, Intel and its Subsidiaries, Panasonic, Canon and Socionext which Lender may consider eligible in its sole discretion; or (B) the Receivable is supported
by an irrevocable letter of credit issued by a bank acceptable to Lender, and if requested by Lender, the original of such letter of credit and/or any usance drafts drawn under such letter of credit and accepted by the issuing or confirming bank
have been delivered to Lender; or (C) the Receivable is supported by other insurance, bond or assurance acceptable to Lender; or (4) an Account Debtor as to which 30% or more of the aggregate dollar amount of all outstanding Receivables
owing from such Account Debtor have not been paid within 90 days from invoice date. 
 (j) The Receivable is not in default (a Receivable will be considered
in default if any of the following occur: (i) the Receivable is not paid within 90 days from its invoice date; (it) the Account Debtor obligated upon the Receivable suspends business, makes a general assignment for the benefit of creditors, or
fails to pay its debts generally as they come due; or (iii) any petition is filed by or against the Account Debtor obligated upon the Receivable under any bankruptcy law or any other law or laws for the relief of debtors). 

(k) The Receivable does not arise from the sale of goods which remain in Borrower’s possession or under Borrower’s control. 

(l) The Receivable is not evidenced by a promissory note or chattel paper, nor is the Account Debtor obligated to Borrower under any other obligation which is
evidenced by a promissory note. 
 (m) The Receivable is not that portion of Receivables due from an Account Debtor which is in excess of 30% of
Borrower’s aggregate dollar amount of all outstanding Receivables or such greater or lesser percentage as determined by Lender in its sole discretion. 

(n) The Receivable is not a retention billing, bonded receivable or progress billing. 

(o) The Receivable is otherwise acceptable to Lender, in Lender’s good faith discretion. 

“Eligible Receivable Amount” means at any time the sum of the Receivable Amounts of the Eligible Receivables. 

“Event of Default” has the meaning set forth in Section 7.1. 

“Facility Fee” means a payment of an annual fee equal to .50 percentage points of the Credit Limit due upon the date of this Agreement and each
anniversary thereof so long as any Receivables Advance is outstanding or available hereunder. 
 “Finance Charge” means for each Monthly Period an
interest amount equal to the sum of (a) the Finance Charge Percentage of the average daily Account Balance outstanding during such Monthly Period, plus (b) the Finance Charge Percentage of the average principal balance of the Growth
Capital Advance outstanding during such period. 

 “Finance Charge Percentage” means (a) with respect to Receivables Advances, a rate per year
equal to the Prime Rate plus 1,00 percentage point plus an additional 5.00 percentage points during any period that an Event of Default has occurred and is continuing, and (b) with respect to Growth Capital Advances, a rate per year equal to
the Prime Rate plus 2.00 percentage points plus an additional 5.00 percentage points during any period that an Event of Default has occurred and is continuing. 

“FX Sublimit” means the International Sublimit less any amounts outstanding under the Letter of Credit Sublimit. 

“GAAP” means generally accepted accounting principles consistently applied and used consistently with prior practices. 

“Growth Capital Advance(s)” has the meaning given to such term in Section 1.12 of this Agreement. 

“Growth Capital Advance Closing Date” has the meaning given to such term in Section 1.12 of this Agreement. 

“Growth Capital Advances Commitment” means $1,500,000.00. 

“Growth Capital Advances Conversion Date” means May 7, 2019. 

“Growth Capital Advances Fee” means $15,000.00. 

“Growth Capital Advances Maturity Date” means November 7, 2021. 

“International Sublimit” means a sublimit of $100,000 under the Credit Limit; which shall be available for Letter of Credit and FX Forward Contract
services. 
 “Inventory” means and includes all of Borrower’s now owned or hereafter acquired goods, merchandise and other personal property,
wherever located, to be furnished under any consignment, arrangement, contract of service or held for sale or lease, all raw materials, work in process, finished goods and materials and supplies of any kind, nature or description which are or might
be used or consumed in Borrower’s business or used in selling or furnishing such goods, merchandise and other personal property, and all documents of title or other documents representing them. 

“Lender” means WESTERN ALLIANCE BANK, an Arizona corporation, and its successors and assigns. 

“Letter of Credit Sublimit” means the International Sublimit, less any amounts outstanding under the FX Sublimit. 

“Maturity Date” means, as applicable, the Receivables Maturity Date or the Growth Capital Advances Maturity Date, or such earlier date as Lender
shall have declared the Obligations immediately due and payable pursuant to Section 7.2. 
 “Month End” means the last calendar day of each
month. 
 “Obligations” means all liabilities and obligations of Borrower to Lender of any kind or nature, present or future, arising under or in
connection with this Agreement or under any other document, instrument or agreement, whether or not evidenced by any note, guarantee or other instrument, whether arising on account or by overdraft, whether direct or indirect (including those
acquired by assignment) absolute or contingent, primary or secondary, due or to become due, now owing or hereafter arising, and however acquired; including, without limitation, all Advances, Finance Charges, fees, interest, expenses, professional
fees and attorneys’ fees. 
 “Overadvance” means at any time an amount equal to the greater of (a) the amounts (if any) by which the
total amount of the outstanding Receivables Advances (including deemed Advances with respect to the FX Sublimit and the Letter of Credit Sublimit) exceeds the lesser of the Credit Limit or the Borrowing Base or (b) the amounts (if any) by which
the total amount of the outstanding deemed Advances with respect to the FX Sublimit or the Letter of Credit Sublimit exceeds the International Sublimit. 

 “Permitted Indebtedness” means: 

(a) Indebtedness under this Agreement or that is otherwise owed to Lender. 

(b) Indebtedness existing on the date hereof and specifically disclosed on a schedule to this Agreement. 

(c) Purchase money indebtedness (including capital leases) incurred to acquire capital assets in ordinary course of business and not exceeding $100,000 in
total principal amount at any time outstanding. 
 (d) Other indebtedness in an aggregate amount not to exceed $100,000 at any time outstanding; provided
that such indebtedness is junior in priority (if secured) to the Obligations and provided that the incurrence of such Indebtedness does not otherwise cause an Event of Default hereunder. 

(e) Indebtedness incurred in the refinancing of any indebtedness set forth in (a) through (d) above, provided that the principal amount thereof is not
increased or the terms thereof are not modified to impose more burdensome terms upon Borrower. 
 (f) Subordinated Debt. 

“Permitted Liens” means the following but only with respect to property not consisting: of Receivables or Inventory: 

(a) Liens securing any of the indebtedness described in clauses (a) through (d) of the definition of Permitted Indebtedness. 

(b) Liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate
proceedings, provided the same have no priority over any of Lender’s security interests. 
 (c) Liens incurred in connection with the extension,
renewal or refinancing of the indebtedness described in clause (e) of the definition of Permitted Indebtedness, 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. 
 (d) Liens securing Subordinated Debt. 

“Prime Rate” means the greater of 3.25% per year or the Prime Rate published in the Money Rates section of the Western Edition of The Wall Street
Journal, or such other rate of interest publicly announced from time to time by Lender as its Prime Rate. Lender may price loans to its customers at, above, or below the Prime Rate: Any change in the Prime Rate shall take effect at the opening of
business on the day specified in the public announcement of a change in Lender’s Prime Rate. 
 “Receivables Advance” means each cash advance
made to Borrower by Lender pursuant to Section 1.1 of this Agreement based on Borrower’s Receivables. 
 “Receivable Amount” means as to
any Receivable, the Receivable Amount due from the Account Debtor after deducting all discounts, credits, offsets, payments or other deductions of any nature whatsoever, whether or not claimed by the Account Debtor. 

“Receivables” means Borrower’s rights to payment arising in the ordinary course of Borrower’s business, including accounts, chattel paper,
instruments, contract rights, documents, general intangibles, letters of credit, drafts, and bankers acceptances. 
 “Receivables Maturity Date”
means November 1, 2022. 

 “Subordinated Debt” means indebtedness of Borrower that is expressly subordinated to the
indebtedness of Borrower owed to Lender pursuant to a subordination agreement satisfactory in form and substance to Lender. 
 “Termination Fee”
means a payment equal to 1.00% of the Credit Limit. 
 “UCC” means the California Uniform Commercial Code, as amended or supplemented from time to
time. 
 12.2 Construction: 
 (a) In this Agreement:
(i) references to the plural include the singular and to the singular include the plural; (ii) references to any gender include any other gender; (iii) the terms “include” and “including” are not limiting;
(iv) the term “or” has the inclusive meaning represented by the phrase “and/or,” (v) unless otherwise specified, section and subsection references are to this Agreement, and (vi) any reference to any statute, law, or
regulation shall include all amendments thereto and revisions thereof. 
 (b) Neither this Agreement nor any uncertainty or ambiguity herein shall be
construed or resolved using any presumption against either Borrower or Lender, whether under any rule of construction or otherwise. On the contrary, this Agreement has been reviewed by each party hereto and their respective counsel. In case of any
ambiguity or uncertainty, this Agreement shall be construed and interpreted according to the ordinary meaning of the words used to accomplish fairly the purposes and intentions of all parties hereto. 

(c) Titles and section headings used in this: Agreement are for convenience only and shall not be used
in interpreting this Agreement. 
 13. JURY TRIAL WAIVER 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 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. 

14. JUDICIAL REFERENCE PROVISION. 
 14.1 In the event the Jury
Trial Waiver set forth above is not enforceable, the parties elect to proceed under this Judicial Reference Provision. 
 14.2 With the exception of the
items specified in Section 14.3, 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 “Loan 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 Loan 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”). 
 14.3 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. 

 14.4 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). 
 14.5 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 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. 
 14.6 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. 
 14.7 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. 
 14.8 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. 
 14.9 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. 

 14.10 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 LOAN DOCUMENTS, 

15. EXECUTION, EFFECTIVENESS, SURVIVAL. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of
which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other documents executed in connection herewith constitute the entire contract among the parties relating to the
subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Delivery of an executed counterpart of a signature page of this Agreement by telecopy shall be effective
as delivery of a manually executed counterpart of this Agreement. This Agreement shall become effective upon the execution and delivery hereof by Borrower and Lender and shall continue in full force and effect until the Maturity Date and thereafter
so long as any Obligations (other than inchoate indemnity obligations) remain outstanding hereunder. 
 16. CONFIDENTIALITY. The terms of the Nondisclosure
Agreement executed by Bridge Bank N.A. and Borrower dated August 28, 2012 shall govern the disclosure of all Borrower proprietary or confidential information disclosed under this Agreement. Lender reserves the right to issue press releases,
advertisements, and other promotional materials describing any successful outcome of services provided on Borrower’s behalf, provided that Lender shall not identify Borrower by name in those materials without Borrower’s prior written
consent. 
 17. OTHER AGREEMENTS. Any security agreements, liens and/or security interests securing payment of any obligations of Borrower owing to Lender
or its Affiliates also secure the Obligations, and are valid and subsisting and are not adversely affected by execution of this Agreement. An Event of Default under this Agreement constitutes a default under other outstanding agreements between
Borrower and Lender or its Affiliates. 
 18. REVIVAL AND REINSTATEMENT OF OBLIGATIONS. If the incurrence or payment of the Obligations by Borrower or any
guarantor, or the transfer to Lender of any property should for any reason subsequently be asserted, or declared, to be void or voidable under any state or federal law relating to creditors’ rights, including provisions of the United States
Bankruptcy Code relating to fraudulent conveyances, preferences, or other voidable or recoverable payments of money or transfers of property (each, a “Voidable Transfer”), and if Lender is required to repay or restore, in whole or in part,
any such Voidable Transfer, or elects to do so upon the reasonable advice of its counsel, then, as to any such Voidable Transfer, or the amount thereof that Lender is required or elects to repay or restore, and as to all reasonable costs, expenses,
and reasonable attorneys’ fees of Lender related thereto, the liability of Borrower and such guarantor automatically shall be revived, reinstated, and restored and shall exist as though such Voidable Transfer had never been made. 

19. PATRIOT ACT NOTIFICATION. Lender hereby notifies Borrower that pursuant to the requirements of the USA Patriot Act, Title III of Pub. L. 107-56, signed into law October 26, 2001 (“Patriot Act”), Lender is required to obtain, verify and record information that identifies Borrower, which information includes the names and addresses of
Borrower and other information that will allow Lender to identify Borrower in accordance with the Patriot Act. 
 20. NOTICE OF FINAL AGREEMENT. BY SIGNING
THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES THAT: (A) THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES, (B) THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES, AND (C) THIS WRITTEN AGREEMENT MAY NOT
BE CONTRADICTED BY EVIDENCE OF ANY PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES. 

 IN WITNESS WHEREOF, Borrower and Lender have executed this Agreement on the day and year above written. 

 

					
	BORROWER:	 		  	LENDER:
			
	ARTERIS, INC., A DELAWARE CORPORATION	 	    	  	WESTERN ALLIANCE BANK, AN ARIZONA CORPORATION
			
	By	 		  	By
			
	/s/ K. Charles Janac	 		  	/s/ Kyle Leyendecker
	Name: K. Charles Janac	 		  	Name: Kyle Leyendecker
	Title: President and CEO	 		  	Title: EVP
			
	Address for Notices:	 		  	Address for Notices:
			
	595 Millich Drive, Suite 200	 		  	WESTERN ALLIANCE BANK
			
	Campbell, CA 95008	 		  	55 Almaden Blvd.
			
	Fax: ###	 		  	San Jose CA 95113
			
	Email: ###	 		  	Fax:
                                         
                                         
  
			
	Attn: Charlie Janac	 		  	Email:
                                         
                                         

			
		 		  	Attn:
                                         
                                         
  

 COMPLIANCE CERTIFICATE 

TO: WESTERN ALLIANCE BANK, an Arizona corporation (“Lender”) 

FROM: ARTERIS, INC. (“Borrower”) 

The undersigned authorized officer of Borrower hereby certifies that in accordance with the terms and conditions of the Business Financing
Agreement between Borrower and Lender (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

	Consolidated monthly financial statements and Compliance Certificate	  	Within 30 days of the end of each calendar month	  	Yes	  	No
				
	A/R & A/P Agings and Borrowing Base Certificate	  	Prior to or concurrent with the initial Formula Advance and monthly within 15 days thereafter	  	Yes	  	No
				
	Consolidated annual financial statements (CPA audited)	  	Within 180 days of each FYE	  	Yes	  	No
				
	10K and 10Q reports	  	Within 5 days of SEC filing dates (where applicable)	  	Yes	  	No
				
	Board approved operating projections (including income statements, balance sheets and cash flow statements)	  	30 days prior the beginning of each FYE	  	Yes	  	No

  

													
	 Financial Covenant
	  	Required	 	  	Actual	 	  	Complies	 
	 Minimum Liquidity
	  	 	1.75 to 1.00	 	  	 	Yes	 	  	 	No	 

 Deposits 
 Deposits
held at Western Alliance Bank $                      

Deposits held outside of Western Alliance Bank: $
                     
  

							
	Comments Regarding Exceptions: See Attached.	  		  	BANK USE ONLY
		  	    	  	Received by:
                                         
                                         
  
	Sincerely,	  		  	AUTHORIZED SIGNER
			
		  		  	Date:
                                         
                                         
                
	 	  		  	Verified:
                                         
                                         
          
	SIGNATURE	  		  	AUTHORIZED SIGNER
			
	 	  		  	Date:
                                         
                                         
              
	TITLE	  		  		  	
	 	  		  	Compliance Status	  	Yes         No            
	DATEEX-10.3

 Exhibit 10.3 

 

Certain confidential information contained in this document, marked by brackets, has been omitted because
it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

LICENSE AGREEMENT 

This LICENSE AGREEMENT (hereinafter referred to as the “Agreement”) is
entered into on this 11th day of October, 2013, by and among Qualcomm Technologies, Inc., a Delaware corporation (“Purchaser”) and Arteris, Inc., a Delaware corporation (“Seller”). 

Whereas, Purchaser and certain Affiliates of Purchaser on the one hand and Seller and certain Affiliates of Seller on the other hand
have entered into that certain Asset Purchase Agreement dated October 9, 2013 (the “APA”), pursuant to which, among other things, Purchaser and its Affiliate purchased certain assets from Seller and its Affiliates, including
technology and intellectual property rights, all as more particularly described in the APA; and 
 Whereas, since Seller and its
Affiliates desire to continue to offer and support the Relevant Products (as defined below) after the Closing Date (as defined in the APA) utilizing the Retained Rights (as defined in the APA) and certain works of authorship and technology
(i) acquired by Purchaser under the APA, (ii) developed by or for Seller or its Affiliates after the Closing Date and assigned to Purchaser as described in this Agreement, and (iii) developed by or for Purchaser or its Affiliates
under the Transition Services Agreement contemplated by the APA, Seller desires a license back from Purchaser for such works of authorship and technology, and related copyrights and trade secrets for such purposes, and Purchaser is willing to grant
such a license to Seller and Seller’s Affiliates, as more particularly described in this Agreement; 
 Now, Therefore, the
Parties hereto agree as follows: 
 1. Definitions. 

For the purpose of this Agreement and all exhibits hereto, the following capitalized terms are defined in this Section 1 and shall have the meaning
specified herein. Other terms that are capitalized but not specifically defined in this Section 1 or in the body of this Agreement shall have the meaning set forth in the APA. 

1.1 “Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or
under common control with such Person provided that, for purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to
any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or by contract or otherwise, provided that
a Person will be an Affiliate only for so long as such control exists, whether existing on the Effective Date or thereafter. 
 1.2
“Assigned IP” has the meaning set forth in Section 4.2 (Assignment of Seller Modifications). 

 1.3 “Customer” means (a) a Person that designs and/or manufactures
integrated circuits (including FPGAs) using the Relevant Products and to whom Seller or its Affiliates grants or has granted the right (to the extent permitted in, and consistent with, the License Agreement) to use the Relevant Products for such
purposes, (b) a Person (a “Service Provider”) that provides services and technology to third parties for purposes of designing and/or manufacturing integrated circuits (including FPGAs) and to whom Seller or its Affiliates
grants or has granted the right (to the extent permitted in, and consistent with, the License Agreement) to use the Relevant Products for such purposes, or (c) a Person to whom Seller grants or has granted a right (to the extent permitted in,
and consistent with, the License Agreement) to use the Relevant Products solely for the purpose of benchmarking or testing and verifying compatibility between such Person’s products and the Relevant Products. 

1.4 “Customer Code” means source code contained in the FlexNoC Libraries that is confidential to the applicable Customer.

 1.5 “Development Environment” means (i) the Cirrus design environment and utilities, and verification environment
for the Relevant Products, and (ii) the Tool Chain Source Code. 
 1.6 “Effective Date” means the same date as the
Closing Date (as defined in the APA). 
 1.7 “FlexNoC Libraries” means libraries in CRDL format which contain the
functional behavior descriptions of the interconnect IP elements in the Relevant Products. 
 1.8 “Modifications” means
collectively the Seller Non-material Modifications and the Purchaser Modifications. 
 1.9
“New Development Environment” has the meaning set forth in Section 2.5(a) (New Development Environment. 
 1.10
“Non-material Modifications” means error corrections and bug fixes to the Relevant Products, and with respect to the Customers described in clauses (a) and (b) of the definition of
“Customer”, Customer specific modifications to a Relevant Product required for the Relevant Product to be compatible with and operate with any such Customer’s particular products, provided that all such Customer specific modifications
are consistent with Seller’s practices prior to August 1, 2013 with respect to making customer specific modifications. For the avoidance of doubt, the term “Non-material Modifications”
shall not include any features or functions described or listed in Annex 1 of Exhibit C of the APA regarding the Retained Rights. 

1.11 “Party” shall individually mean Purchaser or Seller, as the case may be, and the term “Parties” shall
collectively mean Purchaser and Seller. 
 1.12 “Pre-existing Customer Agreement”
means an agreement between Seller and a Customer entered into prior to the Effective Date. 
 1.13 “Public Software” means
any software that contains, or is derived in any manner (in whole or in part) from, any software that is distributed as free software, open source software (e.g., Linux) or similar licensing or distribution models that requires the distribution of
source code to licensees, including software licensed or distributed under any of the following licenses or distribution models, or licenses or distribution models similar to any of the following: (i) the GNU

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 2 

 
General Public License (GPL); (ii) Lesser/Library GPL (LGPL); (iii) the Common Development and Distribution License (CDDL); (iv) the Artistic License (including PERL); (v) the Netscape Public
License; (vi) the Sun Community Source License (SCSL) or the Sun Industry Standards License (SISL); (vii) the Apache License; (viii) the Common Public License; (ix) the Affero GPL (AGPL); (x) the Berkley Software Distribution (BSD);
(xi) the Mozilla Public License (MPL), (xii) the Microsoft Limited Public License or (xiii) any licenses that are defined as OSI (Open Source Initiative) licenses as listed on the site www.opensource.org. 

1.14 “Purchaser Modifications” means Non-material Modifications and Identified
Updates (as defined in the Transition Services Agreement), in each case made by Purchaser pursuant to the Transition Services Agreement. 

1.15 “Relevant Copyrights and Trade Secrets” means: 

(a) the Copyrights and Trade Secrets that (i) were owned by either Seller or any of its Affiliates immediately prior to the Closing,
(ii) were embodied in the Relevant Products distributed by Seller prior to the Closing Date, and (iii) are acquired by Purchaser from either Seller or any Affiliate of Seller pursuant to the APA; 

(b) the Copyrights and Trade Secrets developed, created or written by, or on behalf of, Purchaser in performance of Purchaser’s
obligations under the Transition Services Agreement (as defined in the APA) and that are delivered to Seller as provided in the Transition Services Agreement; and 

(c) the Copyrights and Trade Secrets in the Seller Non-material Modifications and Seller Modification
Documentation. 
 For the avoidance of doubt, and without limitation, the term “Relevant Copyrights and Trade Secrets” shall not include any
Copyrights or Trade Secrets (a) owned by or licensed to Purchaser or any of its Affiliates at any time prior to the date and time of the Closing (other than those incorporated in the Relevant Products by Purchaser and delivered by Purchaser to
Seller under the Transition Services Agreement), (b) conceived, prepared, created, written, or developed by or for Purchaser or any of its Affiliates at any time after the date and time of the Closing (other than those developed, created or written
by Purchaser in performance of Purchaser’s obligations under the Transition Services Agreement that are incorporated in the Relevant Products by Purchaser and delivered by Purchaser to Seller under the Transition Services Agreement), or
(c) acquired or licensed from third parties by Purchaser or by any of its Affiliates at any time after the date and time of the Closing (other than those incorporated in the Relevant Products by Purchaser and delivered by Purchaser to Seller
under the Transition Services Agreement). 
 1.16 “Relevant Products” means the Relevant Products as such term is defined
in Exhibit C of the APA regarding the Retained Rights. 
 1.17 “Seller Modification
Documentation” has the meaning set forth in Section 4.1 (Delivery of Modifications to Purchaser). 
 1.18 “Seller Non-material Modifications” has the meaning set forth in Section 2.1(b). 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 3 

 1.19 “Service Provider” shall have the meaning set forth in
Section 1.3. 
 1.20 “Tool Chain Source Code” means the source code for the Relevant Products, including the tool
chain source code for: FlexArtist, FlexExplorer, FlexVerifier, and FlexPlanner. 
 2. License Under the Relevant Copyrights and Trade Secrets. 

2.1 License. Subject to the terms and conditions in this Agreement, Purchaser grants to Seller and to Seller’s Affiliates, solely
under the Relevant Copyrights and Trade Secrets, a non-exclusive, worldwide, fully-paid, royalty-free, non-transferable (except as provided for in this Agreement),
limited license, without right of sublicense (except as expressly set forth in this Section 2.1), to: 
 (a) use and reproduce the
Relevant Copyrights and Trade Secrets in connection with the exercise of the licenses granted in this Section 2.1; 
 (b) further
develop and modify the Relevant Products for purposes of creating Seller modifications to the Relevant Products to the extent that such modifications constitute Non-material Modifications (collectively, the
“Seller Non-material Modifications”); 
 (c) reproduce the Relevant Products and
Modifications thereto; 
 (d) distribute or have distributed (through multiple tiers of distribution) the end user documentation for the
Relevant Products and the Modifications to Customers; 
 (e) distribute or have distributed (through multiple tiers of distribution) the
object/executable/binary code of the Relevant Products and Modifications to Customers; and 
 (f) grant sublicenses to reproduce and use the
object/executable/binary code of the Relevant Products and Modifications, and the source code output of the Relevant Products and Modifications, to Customers of the Relevant Products and Modifications, provided that each such Customer to whom Seller
or one of its Affiliates grants such a sublicense shall be bound by a written agreement that includes the restrictions and limitations set forth in this Agreement applicable to Seller and its Affiliates hereunder, and shall include restrictions
prohibiting Customers from reverse engineering or decompiling any Relevant Product or any Modifications, or any portion thereof. Seller’s and its Affiliates distribution and licensing of the Relevant Products and Modifications after the
Effective Date shall be consistent with Seller’s and its Affiliates past practices with respect to the distribution and licensing of the Relevant Products immediately prior to August 1, 2013, and on substantially the same terms and
conditions used by Seller and its Affiliates prior to August 1, 2013. Seller and its Affiliates shall not grant perpetual licenses to Customers to use the Relevant Products and shall not enter into agreements with any Customer after the
Effective Date pursuant to which a Customer has the unilateral right to renew the agreement that includes the sublicense granted to the Customer. In addition, with respect to sublicenses granted by Seller and its Affiliates after the Effective Date,
each such sublicense shall have a term or duration that is six (6) years or less. Notwithstanding the foregoing, Seller and its Affiliates may grant perpetual licenses to Customers to use the interconnect designs created from the
Customer’s use of the Relevant Products, including any hardware elements and intellectual property embedded in such designs. No Customer shall have the right to distribute the Relevant 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 4 

 
Product. Each Customer may use third party contractors to use the Relevant Products on the Customer’s behalf within the scope of the Customer’s license rights solely for the benefit of
the Customer. With respect to Service Providers, Service Providers may distribute their interconnect designs to their customers, and grant to their customers that design and/or manufacture integrated circuits (including FPGAs) a sublicense to
reproduce and use internally those interconnect designs in connection with the integrated circuits manufactured and sold by such customers. Purchaser shall not have any obligations or liabilities to any Customers. 

2.2 Scope of the License. Except for the rights expressly set forth in Section 2.1 (License), no other rights or licenses are
granted to Seller or its Affiliates, express, implied, by way of estoppel or otherwise. For the avoidance of doubt, the license granted in Section 2.1 (License) shall not include and shall not be deemed or construed to include a right, consent,
authorization or license, express, implied, by way of estoppel or otherwise, under any patents or patent applications owned or controlled by Purchaser or any of its Affiliates, including the patents and patent applications acquired by Purchaser and
its Affiliates under the APA. Seller acknowledges and agrees that the exclusion of such rights is not a derogation of the benefits of the licenses granted to Seller in this Agreement and Seller and Seller’s Affiliates shall not take any
inconsistent or contrary position with respect thereto. 
 2.3 License Restrictions as to Public Software. Notwithstanding the
license granted in Section 2.1 (License), after the Effective Date and on a going-forward basis, Seller and its Affiliates shall not, and Seller and its Affiliates shall not permit any Person to, incorporate into, link to (excluding linking by
or through standard systems calls), distribute, or use any Public Software with any Relevant Product (i) in a manner inconsistent with the manner Seller and its Affiliates engaged in such activities immediately prior to August 1, 2013 and
for the avoidance of doubt, neither Seller, its Affiliates nor such other Persons shall engage in these activities unless such activities are described in Section 3.8(d) of the Target Disclosure Schedule attached to the APA, provided
however and for the avoidance of doubt, Seller shall not, after the Effective Date, re-incorporate into or re-link to, distribute, or use any Public Software that was
identified in Section 3.8(d) of the Target Disclosure Schedule as being “removed” (or any similar identification) from the Relevant Products as a condition of, or prior to, the Closing, or (ii) in such way that any of the
Relevant Products becomes subject to any claim or obligation to (a) provide any portion of the Development Environment for a Relevant Product to any Person, or (b) to license or provide any rights under any patent applications and/or
patents to any Person with respect thereto (including any abridgement or restriction of the enforcement of any patents and patent applications acquired by Purchaser under the APA), including as a result of or under a Public Software license which
calls for such or similar effects on the patents or patent applications. 
 2.4 License Restrictions as to Source Code. Seller may
only distribute the Relevant Products and Modifications in object/executable/binary form, and not in source code form. Seller shall not publish or disclose the source code for the Relevant Products or Modifications thereto (including any Development
Environment or any portion thereof) to any Person, other than disclosure to its employees with a need to know in connection with the exercise of the licenses set forth in Section 2.1 (License) to make Seller
Non-material Modifications. On the date of the expiration of the four (4) year term of the Transition Services Agreement and provided that this Agreement has not terminated prior such date, Seller may
disclose the Development Environment and FlexNoC Libraries for the Relevant Products (subject to the terms in Section 2.5(b) (Deletion 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 5 

 
of Development Environments and Section 2.6(a)) to its contractors with a need to know solely for use by such contractors in connection with the contractors performance of services for
Seller in connection with Seller’s exercise of the licenses set forth in Section 2.1 (License) to make Seller Non-material Modifications, provided that such contractors (i) may not further
disclose the Development Environment for the Relevant Products and (ii) are bound by written confidentiality terms substantially similar to the confidentiality terms in this Agreement. To the extent not otherwise done by Purchaser, Seller shall
change the copyright or other proprietary notices contained in the Relevant Products, Modifications and related documentation to reference Qualcomm Technologies, Inc. as opposed to Seller or its Affiliates. 

2.5 Purchaser’s Right to Deliver New Development Environment. 

(a) New Development Environment. Purchaser may, in its sole discretion, deliver to Seller a new Development Environment of the Relevant
Products that is functionally equivalent to the then-current Development Environment of the Relevant Products in use by the Parties, but which may obscure the source code for certain features or functionality (the “New Development
Environment”). Unless otherwise specified by Purchaser, the Development Environment delivered by Purchaser to Seller in connection with the delivery of Identified Updates, bug fixes or error corrections under the Transition Services
Agreement shall not be a “New Development Environment.” The New Development Environment will be deemed accepted by Seller thirty (30) days after delivery by Purchaser unless Seller sends written notice of rejection to Purchaser prior
to the expiration of such period and such written notice describes in reasonable detail how the New Development Environment is not functionally equivalent to the then-current version of the Development Environment being used by the Parties. In the
event of such rejection notice, Purchaser will use commercially reasonable efforts to correct the New Development Environment to make it functionally equivalent to the then-current Development Environment in use by the Parties and redeliver the New
Development Environment to Seller in which case the acceptance and rejection terms noted above shall apply. 
 (b) Deletion of
Development Environments. Upon Seller’s acceptance of the New Development Environment or if the terms in this Section 2.5(b) (Deletion of Development Environments) otherwise apply as a result of Section 2.6(a) (Change in Control),
all rights and licenses in and to the then-current version and all prior versions of the Development Environment of the Relevant Products shall terminate. Within five (5) business days after either (i) Seller accepts the New Development
Environment or (ii) the terms in this Section 2.5(b) (Deletion of Development Environments) otherwise apply as a result of Section 2.6(a) (Change in Control), Seller will promptly (i) delete and remove from all systems,
computers, servers and storage devices/media owned or controlled by Seller all copies of the then-current version and prior versions of Development Environment and (ii) deliver to Purchaser a certificate, signed by an officer of Seller after
due inquiry, certifying that Seller has complied with the foregoing obligation. Purchaser shall have the right, upon ten (10) days prior written notice to audit Seller to confirm compliance with the foregoing obligation to delete and remove the
then-current and prior versions of the Development Environment from all such systems, computers, servers, and storage devices/media. For the avoidance of doubt, nothing in this Section 2.5 shall relieve Seller of its obligations and
restrictions with respect to the disclosure of the source code for the Relevant Products (including the Development Environment or any portion thereof) to any Person. For the avoidance of doubt, nothing in this Section 2.5(b) shall impact
Seller’s licenses set forth in this 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 6 

 
Agreement with respect to the New Development Environment or to the object/executable/binary code for the Relevant Product. For the further avoidance of doubt, after Seller’s acceptance of
the New Development Environment, any future deliveries of a Development Environments required under the Transition Services Agreement shall be an update to the New Development Environment. 

2.6 Termination of Rights to Source Code. Until such time as Seller accepts the New Development Environment in accordance with the
terms hereof, each of the following provisions shall apply: 
 (a) Change in Control. Except for Permitted Target Restructuring
Transactions (as defined in the APA), from and after the date hereof, at such time as any Person or group of Persons (an “Acquiror”) acquires (whether by purchase, sale, transfer or other conveyance of any kind (other than non-exclusive licenses granted to Customers in the ordinary course of business and consistent with this Agreement)), in a single transaction or series of transactions over a period of time, (1) more than fifty
percent (50%) of the fair market value of Seller’s consolidated assets, (2) more than fifty percent (50%) of the total combined voting power of the outstanding securities of Seller entitled to vote generally in the election of directors of
Seller that would result in the stockholders of Seller immediately prior to the consummation of such transaction or transactions not retaining immediately after the consummation of such transaction or transactions direct or indirect beneficial
ownership of more than fifty percent (50%) of the total combined voting power of the outstanding securities entitled to vote generally in the election of directors, (3) by means of a merger, consolidation or other means such that Seller becomes
an Affiliate of such Person or Persons, or (4) securities of Seller in an amount that if acquired would result in the stockholders and option holders of Arteris Holdings, Inc. immediately following the execution of this Agreement not retaining
immediately after the consummation of such transaction or transactions direct or indirect beneficial ownership of more than fifty percent (50%) of the total combined voting power of the outstanding securities of Seller entitled to vote generally in
the election of directors, and in each case of (1), (2), (3) and (4) above such Acquiror is not an Affiliate of Seller prior to commencement of the transaction or the series of related transactions, then (a) Seller shall provide written
notice of the transaction or transactions within thirty (30) days prior to the closing thereof and (b) the terms and conditions in Section 2.5(b) (Deletion of Development Environments) shall apply to all Development Environments in
Seller’s possession or under its control and Seller shall comply with such terms and conditions prior to the closing or consummation of such transaction(s) and shall, promptly following such compliance (but, in any event, prior to the
consummation of such transaction), provide a written certification to Purchaser executed by an officer of Seller that Seller has so complied. For the avoidance of doubt, for purposes of the foregoing, a Person that is an Affiliate of Seller that was
formed or was used for purposes of facilitating a transaction described above that involves a third party that is not an Affiliate shall be deemed an Acquiror for purposes of (1), (2), (3) and (4) above. Seller acknowledges and agrees that it
may not disclose to any prospective Acquiror or Acquiror (or any of their respective Representatives) the source code for the Relevant Products (including any portion of any Development Environment) in anticipation of any such transaction(s) or
following the consummation of any such transaction(s) without Purchaser’s prior written consent. For the avoidance of doubt, (i) nothing in this Section 2.6(a) shall impact Seller’s licenses with respect to the
object/executable/binary code for the Relevant Product, and (ii) in the event that Seller is required to delete the Development Environment as described in this Section, Purchaser shall no longer be required to deliver future Development
Environments to Seller. 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 7 

 (b) Investment of Less Than 50%. If Seller, any stockholder or group of stockholders
of Seller, individually or in the aggregate, desires to sell, transfer, issue or otherwise convey to any Person or group of Persons (an “Investor”), in a single transaction or one or more transactions over a period of time,
securities of Seller whereby the consummation of such sale, transfer, issuance or other conveyance would result in the Investor having direct or indirect beneficial ownership of less than fifty percent (50%) of the total combined voting power of the
outstanding securities of Seller entitled to vote generally in the election of directors of Seller, then Seller shall, at least thirty (30) days prior to the consummation of such transaction or transactions, notify Purchaser in writing with the
particulars of the transaction(s), including the identity of the Investor. Seller acknowledges and agrees that it may not disclose to any prospective Investor or Investor (or any of their respective Representatives) the source code for the Relevant
Products (including any Development Environment or any portion thereof) in anticipation of any such transaction(s) or following the consummation of any such transaction(s). 

(c) Seller’s Acquisition of Third Party. If Seller desires to issue securities of Seller in connection with a Change of Control
Acquisition (as defined below) of any corporation, limited liability company or other entity (other than Seller) (the “Acquired Company”), then Seller shall, at least sixty (60) days prior to the consummation of such Change of
Control Acquisition, notify Purchaser in writing with the particulars of the Change of Control Acquisition, including the identity of the Acquired Company and the Persons that would be entitled to receive the securities that are to be issued by
Seller in connection with such Change of Control Acquisition. For purposes of the foregoing, a “Change of Control Acquisition” means (i) Seller’s acquisition of assets representing more than fifty percent (50%) of the net
book value or fair market value of the Acquired Company’s consolidated assets (in a single transaction or in a series of related transactions), (ii) Seller’s acquisition of more than fifty percent (50%) of the total combined voting power
of the outstanding securities of the Acquired Company entitled to vote generally in the election of directors of the Acquired Company or (iii) Seller acquisition of the Acquired Company by means of a merger, consolidation or other means such
that the Acquired Company becomes an Affiliate of Seller. Seller acknowledges and agrees that it may not disclose to any prospective Acquired Company or Acquired Company (or any of their respective Representatives) the source code for the Relevant
Products (including any Development Environment or any portion thereof) in anticipation of or prior to any such transaction(s), and following the consummation of any such transaction(s), the limitations set forth in Section 2.4 (License
Restrictions as to Source Code) with respect to access to and use of the source code for the Relevant Products (including the Development Environment) shall apply to the Acquired Company’s employees as if such employees were employees of
Seller. 
 2.7 Retention of Title. The licenses granted in Section 2.1 (License) are not a sale of the Relevant Copyrights and
Trade Secrets. As between the Parties, subject to the licenses granted in Section 2.1 (License), Purchaser owns and will continue to own all right, title and interest in and to the Relevant Copyrights and Trade Secrets. All rights not expressly
granted herein are reserved. 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 8 

 3. Assertion of Relevant Claims. 

3.1 Definitions. For purposes of this Section 3, the following capitalized terms are defined in this Section 3 and shall have
the meaning specified herein. 
 “Assert,” “Assertion,” “Asserts,” and
“Asserted,” means to commence or prosecute any patent infringement litigation in any jurisdiction in the world, whether administrative, judicial, arbitral, or otherwise, including any proceeding before or in the United States
International Trade Commission. 
 “Defendants” means only the following entities: (i) Seller, (ii) a then-current
Affiliate of Seller, or (iii) a Customer (a) for whom Seller has an obligation to defend and indemnify the Customer from and against an Assertion of a Relevant Claim, and (b) which tenders defense of the Asserted Relevant Claim to
Seller. 
 “Objectionable Assertion” means the Assertion of a Relevant Claim (but not any other patent claim) against a
Defendant in connection with that Defendant’s use, manufacture, sale, offer to sell, or importation of Relevant Products (but not any other product or service). Notwithstanding anything to the contrary, the Assertion of a claim (including any
Relevant Claim) in connection with any use, manufacture, sale, offer to sell, or importation of any subassembly, module, modem card, or complete product that contains any integrated circuit incorporating all or any part of any Relevant Product or
the output generated by a Relevant Product (determined, for this purpose, regardless of whether such claim covers or applies to all or any part of any Relevant Product or the output generated by a Relevant Product, respectively, and in either case
when the Relevant Product is included in such subassembly, module, modem card, or complete end product), shall not be an Objectionable Assertion. 

“Relevant Claims” means those claims in patents owned by Purchaser or its Affiliates that claim inventions conceived by the
employees and contractors of Purchaser solely in the course of such employees’ and contractors’ performance of Relevant Products related services for Seller under the Transition Services Agreement. 

3.2 Assertion of Relevant Claims. Subject to the limitations set forth below in Section 3.3 (Limitations), if Purchaser or any of
its then-current Affiliates (the “Plaintiff(s)”) Asserts any Objectionable Assertion and the Plaintiffs do not, within thirty (30) days after Plaintiff s receipt of a written demand from Seller to take one of the actions
described below in (i) or (ii) after the commencement of such Objectionable Assertion by the Plaintiffs (such 30-day period being the “Dismissal Period”), either: (i) dismiss (or
cause the dismissal of) such litigation against the Defendants with respect to the Objectionable Assertion of the Relevant Claims with respect to the Defendants’ using, making, selling, offering for sale or importing Relevant Products; or
(ii) amend (or cause the amendment of) the complaint to remove the Assertion of the Relevant Claims from the Objectionable Assertion against the Defendants with respect to the Defendants’ using, making, selling, offering for sale or
importing Relevant Products (each of (i) and (ii) being a “Dismissal”), then Purchaser or its designee will, after a written demand from Seller received by Purchaser after the expiration of the Dismissal Period, make a single
payment of an amount equal to [****] (the “Payment Amount”). Payment of the Payment Amount will be made, if at all, (a) to a single Defendant designated by the Defendants and (b) within thirty (30) days after the
receipt of such written demand from Seller. The terms in this Section 3.2 shall not survive the termination of this Agreement. 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 9 

 3.3 Limitations. Notwithstanding anything to the contrary, Purchaser will have no
obligation to pay the Payment Amount in the case of any one or more of the following circumstances: 
 (a) if the Defendants or any of their
then-current Affiliates (i) is Asserting any patents against Purchaser or any of its Affiliates at the time of Plaintiffs’ commencement of an Objectionable Assertion or (ii) commences any Assertion of any patent against Purchaser or
any of its Affiliates after commencement of the Objectionable Assertion but prior to the payment of the Payment Amount, other than as a counterclaim to the Objectionable Assertion; 

(b) the Assertion of any claims of any patents other than the Relevant Claims; 

(c) the Assertion of the Relevant Claims against any product or service other than the Relevant Products; 

(d) the Assertion of any Relevant Claims against any Person other than a Defendant; or 

(e) after paying the Payment Amount (it being agreed that once the Payment Amount is made, in no event will Purchaser be required to pay
another Payment Amount). 
 3.4 Re-Payment of the Payment Amount. If Purchaser or any of its
then-current Affiliates commences an Objectionable Assertion, does not Dismiss such Objectionable Assertion, pays the Payment Amount under Section 3.2 (Assertion of Relevant Claims) and prior to the final resolution of the Objectionable Claim,
the Defendants or any of their Affiliates Asserts patents against Purchaser or any of its Affiliates other than as a counterclaim to the Objectionable Assertion, then Seller shall pay back to Purchaser (or its designee) the Payment Amount, plus
interest (at the then-current prime lending rate) which will accrue from the date the Payment Amount was made by Purchaser (or its designee) until re-payment of the Purchase Amount is made by Seller. Re-payment of the Payment Amount plus the interest shall be made within thirty (30) days after a written demand from Purchaser. 

3.5 Dismissal of Counter-claims. In the event of a Dismissal by the Plaintiffs of an Objectionable Assertion during the Dismissal
Period, and if a Defendant has brought or filed one or more counterclaims against a Plaintiff (whether or not occurring in the same case and venue as the Objectionable Assertion), then Seller shall, and shall cause its Affiliate(s) or, to the extent
within its control, its Customer(s) to, file to dismiss such counterclaims no later than within five (5) business days after Purchaser’s written request to do so; provided that such request is made as of or after the date of Plaintiff s
Dismissal of such Objectionable Assertion. The failure by Seller or any of its Affiliates to dismiss a counterclaim made by it within sixty-five (65) days after the Purchaser’s written request shall be a material breach of this Agreement
entitling Purchaser to terminate this Agreement as provided in Section 8.2 (Termination for Cause); provided, however, that Seller shall not be deemed to be in material breach of this Agreement for the failure of Seller or any of its Affiliates
to dismiss a counterclaim made by it within such sixty-five (65) day period to the extent caused by any cause beyond the control of Seller, including acts of God, strikes, lock outs and other labor disputes and disturbances, civil disturbances,
accidents, acts of war or conditions arising out of or attributable to war (whether declared or undeclared), shortage of 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 10 

 
necessary equipment, materials or labor, or restrictions thereon or limitations upon the use thereof, and delays in transportation. Purchaser shall not file any motions or take any other action
that could prevent, interfere with, or delay the granting of such dismissal of counterclaims. In addition, if all of the counterclaims made by Seller, any of its Affiliates, or Customer(s) are not so dismissed within such sixty-five (65) day
period (other than by reason of Purchaser’s breach of the foregoing covenant), then Purchaser may do one or both of the following: (i) with respect to any failure by Seller or any of its Affiliates to dismiss any counterclaim made by it,
proceed with the termination of this Agreement pursuant to Section 8.2 (Termination for Cause) and/or (ii) with respect to any failure by Seller, any of its Affiliates, or Customer(s) to dismiss any counterclaim made by it, re-file, recommence or otherwise pursue the Objectionable Claim that was previously Dismissed by the Plaintiff and without any obligation with respect to the making of any payment of the Payment Amount associated
therewith or related thereto. 
 4. Modifications Created by Seller. 

4.1 Delivery of Modifications to Purchaser. Seller will, and will cause its Affiliates to, deliver to Purchaser all Seller Non-material Modifications made by or for Seller or its Affiliates, including the object, executable, binary and the Development Environment (to the extent modified by Seller) and the relevant FlexNoC libraries
(excluding any Customer Code) for such Seller Non-material Modifications. Such delivery will include all documentation, developer notes and other information and materials necessary for a reasonable skilled
software engineer to understand and further modify the Seller Non-material Modifications (collectively, the “Seller Modification Documentation”). Delivery of the Seller Non-material Modifications and Seller Modification Documentation will be made once every six (6) months. Notwithstanding the foregoing, Seller will not be required to deliver to Purchaser (i) the Purchaser
Modifications previously delivered by Purchaser to Seller under the Transition Services Agreement or (ii) Customer Code or proprietary information included in the Seller Non-material Modifications. 

4.2 Assignment of Seller Modifications. Seller, on behalf of itself and its Affiliates, hereby irrevocably assigns and agrees to
irrevocably assign to Purchaser, all right, title and interest in and to all Seller Non-material Modifications and Seller Modification Documentation, including all Intellectual Property and related rights
therein, excluding any Customer Code (collectively, the “Assigned IP”). To the extent any of the rights, title and interest in and to the Assigned IP cannot be assigned by Seller or its Affiliates to Purchaser, Seller, on behalf of
and its Affiliates hereby grants to Purchaser an exclusive, royalty-free, transferable, irrevocable, worldwide, fully paid-up license (with rights to sublicense through multiple tiers of sublicensees) to fully
use, practice and exploit those non-assignable rights, title and interest in the Assigned IP, including the right to make, use, sell, offer for sale, import, have made, and have sold, the Assigned IP. To the
extent any of the rights, title and interest in and to the Assigned IP can neither be assigned nor licensed by Seller or its Affiliates to Company, Seller, on behalf of itself and its Affiliates, hereby irrevocably waives and agrees never to assert
the non-assignable and non-licensable rights, title and interest in the Assigned IP against Purchaser, its Affiliates, any of Purchaser’s or its Affiliates’
successors in interest, or any of Purchaser’s or its Affiliates’ customers. 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 11 

 4.3 Assistance. Seller agrees to perform and to require its Affiliates to perform,
during and after the term of this Agreement, all acts that Purchaser deems necessary or desirable to permit and assist Purchaser, at its expense, in obtaining, perfecting and enforcing the full benefits, enjoyment, rights and title throughout the
world in the Assigned IP. If Purchaser is unable for any reason to secure Seller’s or its Affiliates’ signature to any document required to file, prosecute, register or memorialize the assignment of any rights under any Assigned IP,
Seller, on behalf of itself and its Affiliates hereby irrevocably designates and appoints Purchaser and Purchaser’s duly authorized officers and agents as Seller’s and its Affiliates’ agents and attorneys-in-fact to act for and on Seller’s and its Affiliates’ behalf and instead of Seller and its Affiliates to take all lawfully permitted acts to further the filing, prosecution, registration,
memorialization of assignment, issuance and enforcement of rights in, to and under the Assigned IP, all with the same legal force and effect as if executed by Seller or its Affiliates. The foregoing is deemed a power coupled with an interest and is
irrevocable. 
 4.4 Assignment by Employees of Seller. Seller covenants, represents and warrants on behalf of itself and its
Affiliates, during the term of this Agreement and thereafter, that each of Seller’s and its Affiliates’ employees and contractors who were involved in the conception, creation, development or writing of Seller Non-material Modifications, Seller Modification Documentation and Assigned IP has or will have a written agreement with Seller or its Affiliates that provides Seller or its Affiliates with all necessary rights to
fulfill its obligations under this Section 4 (Modifications Created by Seller), including the irrevocable assignment to Seller or its Affiliates by such employees and contractors of all such employees’ and contractors’ Intellectual
Property and other rights in and to the Assigned IP. 
 5. Disclaimer. 

PURCHASER MAKES NO REPRESENTATIONS OR WARRANTIES WHATSOEVER OF ANY KIND OR NATURE TO SELLER OR SELLER’S AFFILIATES IN CONNECTION WITH
THIS AGREEMENT. PURCHASER DISCLAIMS ALL WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, INCLUDING, ANY WARRANTY OR CONDITION WITH RESPECT TO MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE, OR
NON-INFRINGEMENT OR ANY WARRANTY ARISING UNDER COURSE OF CONDUCT OR USAGE OF TRADE. ALL RELEVANT COPYRIGHTS AND TRADE SECRETS ARE LICENSED “AS IS,” WITHOUT ANY WARRANTY OF ANY KIND. SELLER
ACKNOWLEDGES AND AGREES THAT IT IS NOT RELYING ANY REPRESENTATION OR WARRANTIES OF PURCHASER IN CONNECTION WITH THE SUBJECT MATTER OF THIS AGREEMENT, INCLUDING THE RELEVANT COPYRIGHTS AND TRADE SECRETS. 

6. No Support 
 Neither Purchaser nor any
Affiliate of Purchaser shall have any obligation under this Agreement to provide any technical support or services or any other support services or assistance to Seller or any Seller Affiliate, including, except as expressly set forth herein, the
delivery of or access to any software or other technology. 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 12 

 7. Confidentiality 

7.1 Definition. The “Confidential Information” means any and all technical and
non-technical information related to the Relevant Products, including the source code for the software comprising the Relevant Products, firmware, designs, schematics, techniques, documentation,
specifications, plans or any other information relating to the Relevant Products (other than Customer Code), whether in written, oral, graphic or electronic form and whether or not marked or otherwise identified as “confidential” or
“proprietary.” Seller shall be deemed to be the recipient of such Confidential Information and as between the Parties, the Confidential Information shall be owned by Purchaser. 

7.2 Obligations. Seller and the Seller Affiliates will maintain in confidence all Confidential Information. Seller will not use,
disclose or grant use of such Confidential Information except as expressly authorized or otherwise permitted by this Agreement. To the extent that disclosure of Confidential Information to a third party is authorized or otherwise permitted by this
Agreement, Seller will obtain prior written agreement from such third party to whom disclosure is to be made to hold in confidence and not make use of such Confidential Information for any purpose other than those expressly authorized or otherwise
permitted by this Agreement. Seller will use at least the same standard of care as it uses to protect its own information of comparable importance to ensure that its employees and agents do not disclose or make any unauthorized use of such
Confidential Information, and in no event less than reasonable care. Seller will promptly notify Purchaser upon discovery of any unauthorized use or disclosure of Confidential Information. Seller will take all reasonable steps to minimize the risk
of disclosure of Confidential Information by ensuring that only Seller’s employees whose duties will require them to possess any Confidential Information shall have access thereto, and will be instructed to treat the same as confidential.
Notwithstanding any other provision in this Agreement or the APA to the contrary, the obligations set forth in this Section shall continue in perpetuity; provided however, that (a) with respect to
Pre-existing Customer Agreements, Seller shall not be required to renegotiate the applicable Customers’ confidentiality obligations to extend the duration of the confidentiality obligations in the Pre-existing Customer Agreement and Seller shall not amend any such Pre-existing Customer Agreement to narrow, lessen or reduce, or shorten the duration of, the
confidentiality obligations, and (b) with respect to new agreements with Customers executed after the Effective Date, Seller shall limit a Customer’s confidentiality obligations with respect to
non-source code Confidential Information to a period of ten (10) years or more following the termination or expiration of the Customer’s license agreement. The obligations of confidentiality set
forth in this Agreement shall control over any conflicting confidentiality obligations in the Transition Services Agreement. 
 7.3
Exceptions. The obligation not to disclose information under Section 7.2 (Obligations) shall not apply to information that Seller can demonstrate (a) is or becomes generally available to the public other than as a result of
disclosure made by Purchaser, or (b) is or becomes available to Seller on a non-confidential basis from a source other than Purchaser, provided that such source is not bound by confidentiality agreements
or by legal, fiduciary or ethical constraints on disclosure of such information. If disclosure of Confidential Information is required to be disclosed pursuant to a governmental order or decree or other legal requirement (including the requirements
of the U.S. Securities and Exchange Commission and the listing rules of any applicable securities exchange), Seller shall give Purchaser prompt notice thereof prior to such disclosure and, at the request of Purchaser, shall cooperate in all
reasonable respects in maintaining the confidentiality of such information, including obtaining a protective order or other similar order. Nothing in this Section 7 (Confidentiality) shall limit in any respect Seller’s ability to disclose
Confidential Information in connection with the enforcement by Seller of its rights under this Agreement; provided, however, that the provision in the immediately preceding sentence shall apply to disclosure of such Confidential Information. 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 13 

 7.4 Disclosure to Customers. Subject to the terms and conditions in this Agreement,
Seller may disclose Confidential Information (other than the Development Environment) to its Customers who are bound by written obligations of confidentiality that are substantially similar to the obligations set forth in this Section 7
(Confidentiality), but in any event confidentiality obligations that are consistent with Seller’s protection of Seller’s Confidential Information prior to August 1, 2013 and provided that the applicable Confidential Information
disclosed is consistent with the confidential information regarding the Relevant Products that Seller disclosed to its Customers prior to August 1, 2013, in all cases consistent with Seller’s past practices. 

7.5 Effect of Termination. Upon termination of this Agreement, (or upon Purchaser’s request with respect to Confidential
Information that is not a Relevant Product or Modification), Seller will destroy all copies (other than back-up tapes made in the ordinary course) of the Confidential Information. Seller shall not withhold any
Confidential Information as a means of resolving any dispute and shall not possess or assert any lien or other right against or to the Confidential Information. 

8. Termination 
 8.1 Term. This
Agreement will commence on the Effective Date and will continue until earlier terminated as provided below 
 8.2 Termination for
Cause. This Agreement may be terminated by Purchaser upon ninety (90) days’ written notice to Seller in the event Seller or any Seller Affiliate violates or breaches any material terms or conditions in this Agreement or in
Exhibit C of the APA regarding the Retained Rights; provided, however, that this Agreement shall not terminate for cause if such breach has been remedied within ninety (90) days after the date of written notice of such
breach from Purchaser. The foregoing termination right is in addition to any other remedies available to Purchaser at law or in equity. 

8.3 Rights upon Termination. Upon any termination of this Agreement all of the licenses granted to Seller and its Affiliates in this
Agreement shall terminate immediately, provided that any sublicenses to the Relevant Products granted by Seller and its Affiliates to their respective Customers prior to the date of termination of this Agreement that comply with the License
Agreement and the terms and conditions in Exhibit C of the APA regarding the Retained Rights shall survive the termination of this Agreement for the balance of the term of each such sublicense and Seller and its Affiliates
shall timely make all elections necessary to have such sublicenses not renew and terminate at the earliest possible date. The terms in Sections 1 (Definitions), 2.2 (Scope of the License), 2.7 (Retention of Title), 4 (Modifications Created by
Seller), 5 (Disclaimer), 7 (Confidentiality), 8.3 (Rights Upon Termination), 8.4 (Seller’s Liability), 9 (No Indemnification), and 10 (General Provisions) shall survive the termination of this Agreement. 

8.4 Seller’s Liability. Notwithstanding anything to the contrary, nothing in the APA shall limit Seller’s liability or
Seller’s Affiliates’ liability in connection with any violation, infringement or misappropriation of the Relevant Copyrights and Trade Secrets, including exceeding the scope of the licenses set forth in Section 2.1 (License). 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 14 

 9. No Indemnification. 

NEITHER PURCHASER NOR ANY AFFILIATE OF PURCHASER SHALL HAVE ANY OBLIGATION TO DEFEND, INDEMNIFY OR HOLD HARMLESS SELLER, ANY SELLER AFFILIATE,
ANY CUSTOMER OR LICENSEE OF SELLER OR ANY OF ITS AFFILIATES, SUCCESSORS, ACQUIRERS OR ASSIGNEES, OR ANY OTHER PERSON OR THIRD PARTY FOR ANY DEMANDS, CLAIMS, SUITS, ACTIONS OR PROCEEDINGS, IN CONNECTION WITH SELLER’S OR ITS AFFILIATES’
EXERCISE OF THE LICENSES GRANTED IN THIS AGREEMENT OR WITH RESPECT TO ANY RELEVANT PRODUCT OR ANY RELEVANT COPYRIGHT OR TRADE SECRET. 
 10. General
Provisions 
 10.1 Assignment. Neither this Agreement nor any of the rights, interests or obligations herein shall be assigned by
Seller whether by asset transfer, merger, operation of law, change of control or otherwise (each of which shall be considered an assignment for purposes hereof), in a single transaction or series of transactions over a period of time, without the
prior written consent of Purchaser. Notwithstanding the foregoing and in all cases subject to Section 2.6(a) (Change in Control), after the Closing and on prior written notice of not less than two (2) business days, Seller may, without the
prior written consent of Purchaser, effect Permitted Target Restructuring Transactions and assign this Agreement to the Target Licensing Business Acquiror in connection therewith and may assign this Agreement to a Target Licensing Business Acquiror
pursuant to one additional Target Licensing Business Acquisition. All obligations set forth in this Agreement shall be binding upon each Target Licensing Business Acquiror and permitted assigns that receive any right or interest described in this
Agreement, and each Target Licensing Business Acquiror and permitted assigns shall, as a condition of any such assignment or transfer, agree in writing to be bound by all such obligations, restrictions and limitations set forth in this Agreement and
a copy of such written agreement will be provided to Purchaser promptly after execution and delivery thereof by the Target Licensing Business Acquiror and permitted assign. Any attempted or purported assignment or transfer in derogation of the
foregoing provisions shall be null, void and of no effect. Nothing in this Agreement, expressed or implied, is intended to confer on any Person, other than Seller, its Affiliates, the Target Licensing Business Acquirors and permitted assigns, any
rights or remedies under or by reason of this Agreement. Purchaser may not assign its obligations under this Agreement without Seller’s consent, which shall not be unreasonably withheld, conditioned, or delayed, provided that Purchaser may,
without such consent, assign this Agreement to an Affiliate of Purchaser or to any Person that acquires substantially all of the relevant business or assets of Purchaser in connection with a spin-off, merger,
sale of assets, divestiture, split-off, or similar transaction. In the event of any permitted assignment by Purchaser, Purchaser shall not remain liable for any obligations hereunder. Any such assignee of
Purchaser shall, as a condition of any such assignment, agree in writing to be bound by all obligations, restrictions and limitations of Purchaser set forth in this Agreement and a copy of such written agreement will be provided to Seller promptly
after execution and delivery thereof by the assignee. 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 15 

 10.2 Severability. If any provision in this Agreement shall be held to be invalid or
unenforceable, the remaining portions shall remain in effect. In the event such invalid or unenforceable provision is considered an essential element of this Agreement, the Parties shall promptly negotiate a replacement provision. 

10.3 Non-Waiver; Remedies Cumulative. No waiver of the terms and conditions of this Agreement,
or the failure of either Party strictly to enforce any such term or condition on one or more occasions shall be construed as a waiver of the same or of any other term or condition of this Agreement on any other occasion. All rights and remedies
conferred under this Agreement or by any other instrument or law shall be cumulative and may be exercised singularly or concurrently. 

10.4 Notices. All notices, requests, demands, consents, agreements and other communications required or permitted to be given by a
Party under this Agreement shall be provided in writing and in English (each a “Notice”) to the other Party to whom such Notice is to be given, and delivered to such other Party by overnight courier service (e.g., FedEx), and with
copy(ies) of such Notice delivered to the other Party by first class mail, postage prepaid, and properly addressed to such other Party as follows (in which case such Notice shall be deemed to have been duly given on the day the Notice is first
received by such other Party): 
  

			
	To Purchaser:	  	To Seller:
	 Qualcomm Technologies, Inc.
	  	 Arteris, Inc.

	 5775 Morehouse Drive
	  	 591 W. Hamilton Ave. Suite 250

	 San Diego, CA 92121-1714
	  	 Campbell, CA 95008

	 Facsimile No.: (858) 658-2500
	  	 Facsimile No.: (408) 470-7301

	 Telephone No.: (858) 845-4059
	  	 Telephone No.: (408) 470-7300

	 Attn: General Counsel
	  	 Attn: President

 The above address and titles for a Party can be changed by that Party through its provision of Notice of such
applicable change(s) to the other Party in accordance with the provisions set forth above in this Section. 
 10.5 Applicable Law and
Jurisdiction. This Agreement is made and entered into in the State of California and shall be governed by, and construed and enforced in accordance with, the laws of the State of California, determined without regard to any conflict of laws
principles that would result in the application of the laws of a different state. A court of proper venue within the State of California will have jurisdiction over all disputes between the Parties relating to breaches of this Agreement; provided,
however, that the foregoing shall not prevent any applicable party from asserting an infringement or misappropriation claim in the appropriate jurisdiction or jurisdictions applicable to such claim. The Parties hereby consent and agree to submit to
such court. 
 10.6 Injunctive Relief. It is understood and agreed that, notwithstanding any other provisions of this Agreement,
breach of the provisions of this Agreement by Seller may cause Purchaser irreparable damage for which recovery of money damages would be inadequate, and that such Purchaser shall therefore be entitled to seek timely injunctive relief to protect its
rights under this Agreement in addition to any and all remedies available at law. 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 16 

 10.7 Export Compliance Assurance. Seller acknowledges that the Relevant Products,
Modifications and all related technical information and technical data, are subject to United States (“U.S.”) government export control and economic sanctions laws, which may restrict or prohibit their export, re-export or transfer. Seller agrees that it will not, and Seller will cause its Affiliates to not, directly or indirectly export, re-export, transfer, release or cause to be
exported or re-exported (herein referred to as “export”) the Relevant Products and Modifications or any direct product thereof to any destination or entity prohibited or restricted under
U.S. law, including but not limited to U.S. government embargoed or sanctioned countries, entities or nationals thereof, unless Seller shall obtain, prior to export, an authorization from the applicable U.S. government agency (either
in writing or as provided by applicable regulation). The current list of restricted countries is: Cuba, Iran, North Korea, Sudan (N) and Syria. Seller further agrees that no Relevant Products and Modifications will be directly or indirectly
employed in or transferred to missile technology, sensitive nuclear or chemical biological weapon end uses or in any manner transferred to any Person for any such end use. 

10.8 Entire Agreement; Amendment. With the exception of the APA and the Transition Services Agreement, the terms and conditions
contained in this Agreement supersede all prior and contemporaneous oral or written understandings between the Parties with respect to the subject matter thereof and, together with the APA and the Transition Services Agreement, constitutes the
entire agreement of the Parties with respect to such subject matter. Such terms and conditions shall not be modified or amended except by a writing that is signed by an authorized representative of each Party. Any amendment or waiver affected in
accordance with this Section shall be binding upon the parties and their respective successors and assigns. 
 10.9 Relationship
Between Parties. Purchaser and Seller shall at all times and for all purposes be deemed to be independent contractors and neither Party, nor either Party’s employees, representatives, subcontractors or agents, shall have the right or power
to bind the other Party. This Agreement shall not itself create or be deemed to create a joint venture, partnership or similar association between Purchaser and Seller or either Party’s employees, representatives, subcontractors or agents. 

10.10 Headings; Construction. The headings to the clauses, sub-clauses and parts of this
Agreement are inserted for convenience of reference only and are not intended to be part of or to affect the meaning or interpretation of this Agreement. The terms “this Agreement,” “hereof,” “hereunder” and any similar
expressions refer to this Agreement and not to any particular Section or other portion hereof. The parties hereto agree that any rule of construction to the effect that ambiguities are to be resolved against the drafting Party will not be
applied in the construction or interpretation of this Agreement. As used in this Agreement, the words “include” and “including,” and variations thereof, will be deemed to be followed by the words “without
limitation” and “discretion” means sole discretion. 
 10.11 Counterparts. This Agreement may be executed by facsimile
and in counterparts, each of which shall be deemed an original and both of which together shall constitute one agreement. Faxed signatures shall have the same effect as original signatures. 

 

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 
 17 

 IN WITNESS WHEREOF, the Parties hereto have caused this License Agreement to be executed as
of the Effective Date. This Agreement may be signed in counterparts by the Parties, all of which when taken together shall form and constitute a single agreement. 
  

			
	Purchaser: Qualcomm Technologies, Inc.
		
	By:	 	 /s/ [****]

	Name:	 	[****]
	Title:	 	Executive Vice President

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential. 

 IN WITNESS WHEREOF, the Parties hereto have caused this License Agreement to be executed as
of the Effective Date. This Agreement may be signed in counterparts by the Parties, all of which when taken together shall form and constitute a single agreement. 
  

			
	Seller: Arteris, Inc.
		
	By:	 	 /s/ K. Charles Janac

	Name:	 	K. Charles Janac
	Title:	 	President and CEO

  
 [****] = Certain confidential
information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) is the type that the registrant treats as private or confidential.

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