Document:

EX-10.16

 Exhibit 10.16 

Execution Copy 

SECURITY AGREEMENT 

THIS SECURITY AGREEMENT (the “Agreement”) dated as of October 12, 2012, is entered into by and among the
Borrower (as defined below), such other entities which from time to time become parties hereto (collectively, including the Borrower, the “Debtors” and each, individually, a “Debtor”) and Comerica Bank
(“Comerica”), as administrative agent for and on behalf of the Lenders (as defined below) (in such capacity, the “Agent”). The addresses for the Debtors and the Agent, as of the date hereof, are set
forth on the signature pages attached hereto. 
 R E C I T A L S: 

A. Inogen, Inc. (the “Borrower”) has entered into that certain Amended and Restated Revolving Credit and Term Loan
Agreement dated as of October 12, 2012 (as amended, supplemented, amended and restated or otherwise modified from time to time the “Credit Agreement”) with each of the financial institutions from time to time signatory
thereto (collectively, including their respective successors and assigns, the “Lenders”) and the Agent pursuant to which the Lenders have agreed, subject to the satisfaction of certain terms and conditions, to extend or to
continue to extend financial accommodations to the Borrower, as provided therein. 
 B. Pursuant to the Credit Agreement, the Lenders have
required that each of the Debtors grant (or cause to be granted) certain Liens to the Agent, for the benefit of the Lenders, all to secure the obligations of the Borrower or any Debtor under the Credit Agreement or any related Loan Document
(including any Guaranty). 
 C. The Debtors have directly and indirectly benefited and will directly and indirectly benefit from the
transactions evidenced by and contemplated in the Credit Agreement and the other Loan Documents. 
 D. The Agent is acting as Agent for the
Lenders pursuant to the terms and conditions of Section 12 of the Credit Agreement. 
 NOW, THEREFORE, in
consideration of the premises and for other good and valuable consideration, the adequacy, receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

ARTICLE 1 

Definitions 

Section 1.1 Definitions. As used in this Agreement, capitalized terms not otherwise defined herein have the meanings
provided for such terms in the Credit Agreement. References to “Sections,” “subsections,” “Exhibits” and “Schedules” shall be to Sections, subsections, Exhibits and Schedules, respectively, of this Agreement
unless otherwise specifically provided. All references to statutes and regulations shall include any amendments of the same and any successor statutes and regulations. References to particular sections of the UCC should be read to refer also to
parallel sections of the Uniform Commercial Code as enacted in each state or other jurisdiction which may be applicable to the grant and perfection of the Liens held by the Agent for the benefit of the Lenders pursuant to this Agreement. 

The following terms have the meanings indicated below, all such definitions to be equally applicable to the singular and plural forms of the
terms defined: 
 “Account” means any “account,” as such term is defined in Article or Chapter 9 of the
UCC, now owned or hereafter acquired by a Debtor, and, in any event, shall include, without limitation, each of the following, whether now owned or hereafter acquired by such Debtor: (a) all rights of such Debtor to payment for goods sold or
leased or services rendered, whether or not earned by performance, (b) all accounts receivable of such Debtor, (c) all rights of such Debtor to receive any payment of money or other form of consideration, (d) all security pledged,
assigned or granted to or held by such Debtor to secure any of the foregoing, (e) all guaranties of, or indemnifications with respect to, any of the foregoing, and (f) all rights of such Debtor as an unpaid seller of goods or services,
including, but not limited to, all rights of stoppage in transit, replevin, reclamation and resale. 

 “Chattel Paper” means any “chattel paper,” as such term is
defined in Article or Chapter 9 of the UCC, now owned or hereafter acquired by a Debtor, and shall include both electronic Chattel Paper and tangible Chattel Paper. 

“Collateral” has the meaning specified in Section 2.1 of this Agreement. 

“Collateral Compliance Report” shall mean a report in the form attached hereto as Exhibit C. 

“Computer Records” means any computer records now owned or hereafter acquired by any Debtor. 

“Copyright Collateral” shall mean all Copyrights and Copyright Licenses of the Debtors. 

“Copyright Licenses” shall mean all license agreements with any other Person in connection with any of the Copyrights
or such other Person’s copyrights, whether a Debtor is a licensor or a licensee under any such license agreement, including, without limitation, the license agreements listed on Schedule 1.1 hereto and made a part hereof, subject,
in each case, to the terms of such license agreements and the right to prepare for sale, sell and advertise for sale, all inventory now or hereafter covered by such licenses. 

“Copyrights” shall mean all copyrights and mask works, whether or not registered, and all applications for
registration of all copyrights and mask works, including, but not limited to all copyrights and mask works, and all applications for registration of all copyrights and mask works identified on Schedule 1.1 attached hereto and made a
part hereof, and including without limitation (a) the right to sue or otherwise recover for any and all past, present and future infringements and misappropriations thereof; (b) all income, royalties, damages and other payments now and
hereafter due and/or payable with respect thereto (including, without limitation, payments under all Copyright Licenses entered into in connection therewith, and damages and payments for past or future infringements thereof); and (c) all rights
corresponding thereto and all modifications, adaptations, translations, enhancements and derivative works, renewals thereof, and all other rights of any kind whatsoever of a Debtor accruing thereunder or pertaining thereto. 

“Deposit Account” shall mean a demand, time, savings, passbook, or similar account maintained with a bank. The term
does not include investment property, investment accounts or accounts evidenced by an instrument. 
 “Document”
means any “document,” as such term is defined in Article or Chapter 9 of the UCC, now owned or hereafter acquired by any Debtor, including, without limitation, all documents of title and all receipts covering, evidencing or representing
goods now owned or hereafter acquired by a Debtor. 
 “Equipment” means any “equipment,” as such term is
defined in Article or Chapter 9 of the UCC, now owned or hereafter acquired by a Debtor and, in any event, shall include, without limitation, all machinery, equipment, furniture, trade fixtures, tractors, trailers, rolling stock, vessels, aircraft
and Vehicles now owned or hereafter acquired by such Debtor and any and all additions, substitutions and replacements of any of the foregoing, wherever located, together with all attachments, components, parts, equipment and accessories installed
thereon or affixed thereto. 
 “General Intangibles” means any “general intangibles,” as such term is
defined in Article or Chapter 9 of the UCC, now owned or hereafter acquired by a Debtor and, in any event, shall include, without limitation, each of the following, whether now owned or hereafter acquired by such Debtor: (a) all of such
Debtor’s Intellectual Property Collateral; (b) all of such Debtor’s books, records, data, plans, manuals, computer software, computer tapes, computer disks, computer programs, source codes, object codes and all rights of such Debtor
to retrieve data and other information from third parties; (c) all of such Debtor’s contract rights, commercial tort claims, partnership interests, membership interests, joint venture interests, securities, deposit accounts, investment
accounts and certificates of deposit; (d) all rights of such Debtor to payment under chattel paper, documents, instruments and similar agreements; (e) letters of credit, letters of credit rights supporting obligations and rights to payment
for 

  
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money or funds advanced or sold of such Debtor; (f) all tax refunds and tax refund claims of such Debtor; (g) all choses in action and causes of action of such Debtor (whether arising
in contract, tort or otherwise and whether or not currently in litigation) and all judgments in favor of such Debtor; (h) all rights and claims of such Debtor under warranties and indemnities, (i) all health care receivables; and
(j) all rights of such Debtor under any insurance, surety or similar contract or arrangement. 
 “Governmental
Authority” shall mean any nation or government, any state, province or other political subdivision thereof, any central bank (or similar monetary or regulatory authority) thereof, any entity exercising executive, legislative, judicial,
regulatory or administrative functions of or pertaining to government, and any corporation or other entity owned or controlled, through stock or capital ownership or otherwise, by any of the foregoing. 

“Instrument” shall mean any “instrument,” as such term is defined in Article or Chapter 9 of the UCC, now
owned or hereafter acquired by any Debtor, and, in any event, shall include all promissory notes (including without limitation, any Intercompany Notes held by such Debtor), drafts, bills of exchange and trade acceptances, whether now owned or
hereafter acquired. 
 “Insurance Proceeds” shall have the meaning set forth in Section 4.4 of
this Agreement. 
 “Intellectual Property Collateral” shall mean Patents, Patent Licenses, Copyrights, Copyright
Licenses, Trademarks, Trademark Licenses, trade secrets, registrations, goodwill, franchises, permits, proprietary information, customer lists, designs, inventions and all other intellectual property and proprietary rights, including without
limitation those described on Schedule 1.1 attached hereto and incorporated herein by reference. 

“Inventory” means any “inventory,” as such term is defined in Article or Chapter 9 of the UCC, now owned or
hereafter acquired by a Debtor, and, in any event, shall include, without limitation, each of the following, whether now owned or hereafter acquired by such Debtor: (a) all goods and other personal property of such Debtor that are held for sale
or lease or to be furnished under any contract of service; (b) all raw materials, work-in-process, finished goods, supplies and materials of such Debtor; (c) all wrapping, packaging, advertising and shipping materials of such Debtor;
(d) all goods that have been returned to, repossessed by or stopped in transit by such Debtor; and (e) all Documents evidencing any of the foregoing. 

“Investment Property” means any “investment property” as such term is defined in Article or Chapter 9 of the
UCC, now owned or hereafter acquired by a Debtor, and in any event, shall include without limitation all shares of stock and other equity, partnership or membership interests constituting securities, of the Domestic Subsidiaries of such Debtor from
time to time owned or acquired by such Debtor in any manner (including, without limitation, the Pledged Shares), and the certificates and all dividends, cash, instruments, rights and other property from time to time received, receivable or otherwise
distributed or distributable in respect of or in exchange for any or all of such shares, but excluding any shares of stock or other equity, partnership or membership interests in any Foreign Subsidiaries of such Debtor. 

“Patent Collateral” shall mean all Patents and Patent Licenses of the Debtors. 

“Patent Licenses” shall mean all license agreements with any other Person in connection with any of the Patents or
such other Person’s patents, whether a Debtor is a licensor or a licensee under any such license agreement, including, without limitation, the license agreements listed on Schedule 1.1 hereto and made a part hereof, subject, in
each case, to the terms of such license agreements and the right to prepare for sale, sell and advertise for sale, all inventory now or hereafter covered by such licenses. 

“Patents” shall mean all letters patent, patent applications and patentable inventions, including, without limitation,
all patents and patent applications identified on Schedule 1.1 attached hereto and made a part hereof, and including without limitation, (a) all inventions and improvements described and claimed therein, and patentable inventions,
(b) the right to sue or otherwise recover for any and all past, present and future infringements and misappropriations thereof, (c) all income, royalties, damages and other payments now and hereafter due and/or payable with respect thereto
(including, without limitation, payments under all Patent Licenses entered into in 

  
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connection therewith, and damages and payments for past or future infringements thereof), and (d) all rights corresponding thereto and all reissues, divisions, continuations,
continuations-in-part, substitutes, renewals, and extensions thereof, all improvements thereon, and all other rights of any kind whatsoever of a Debtor accruing thereunder or pertaining thereto. 

“Permitted Liens” means Liens permitted under Section 8.2 of the Credit Agreement 

“Pledged Shares” means the shares of capital stock or other equity, partnership or membership interests described on
Schedule 1.2 attached hereto and incorporated herein by reference, and all other shares of capital stock or other equity, partnership or membership interests (other than in an entity which is a Foreign Subsidiary) acquired by any
Debtor after the date hereof. 
 “Proceeds” means any “proceeds,” as such term is defined in Article or
Chapter 9 of the UCC and, in any event, shall include, but not be limited to, (a) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to a Debtor from time to time with respect to any of the Collateral, (b) any
and all payments (in any form whatsoever) made or due and payable to a Debtor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Collateral by any Governmental Authority
(or any Person acting, or purporting to act, for or on behalf of any Governmental Authority), and (c) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. 

“Records” are defined in Section 3.2 of this Agreement. 

“Software” means all (i) computer programs and supporting information provided in connection with a transaction
relating to the program, and (ii) computer programs embedded in goods and any supporting information provided in connection with a transaction relating to the program whether or not the program is associated with the goods in such a manner that
it customarily is considered part of the goods, and whether or not, by becoming the owner of the goods, a Person acquires a right to use the program in connection with the goods, and whether or not the program is embedded in goods that consist
solely of the medium in which the program is embedded. 
 “Trademark Collateral” shall mean all Trademarks and
Trademark Licenses of the Debtors. 
 “Trademark Licenses” shall mean all license agreements with any other Person
in connection with any of the Trademarks or such other Person’s names or trademarks, whether a Debtor is a licensor or a licensee under any such license agreement, including, without limitation, the license agreements listed on Schedule
1.1 hereto and made a part hereof, subject, in each case, to the terms of such license agreements, and the right to prepare for sale, and to sell and advertise for sale, all inventory now or hereafter covered by such licenses. 

“Trademarks” shall mean all trademarks, service marks, trade names, trade dress or other indicia of trade origin,
trademark and service mark registrations, and applications for trademark or service mark registrations, and any renewals thereof, including, without limitation, each registration and application identified on Schedule 1.1 attached
hereto and made a part hereof, and including without limitation (a) the right to sue or otherwise recover for any and all past, present and future infringements and misappropriations thereof, (b) all income, royalties, damages and other
payments now and hereafter due and/or payable with respect thereto (including, without limitation, payments under all Trademark Licenses entered into in connection therewith, and damages and payments for past or future infringements thereof) and
(c) all rights corresponding thereto and all other rights of any kind whatsoever of a Debtor accruing thereunder or pertaining thereto, together in each case with the goodwill of the business connected with the use of, and symbolized by, each
such trademark, service mark, trade name, trade dress or other indicia of trade origin. 
 “UCC” means the Uniform
Commercial Code as in effect in the State of California; provided, that if, by applicable law, the perfection or effect of perfection or non-perfection of the security interest created hereunder in any Collateral is governed by the Uniform
Commercial Code as in effect on or after the date hereof in any other jurisdiction, “UCC” means the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such perfection or the
effect of perfection or non-perfection. 

  
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 “Vehicles” means all cars, trucks, trailers, construction and earth
moving equipment and other vehicles covered by a certificate of title law of any state and all tires and other appurtenances to any of the foregoing. 

ARTICLE 2 
 Security
Interest 
 Section 2.1 Grant of Security Interest. As collateral security for the prompt payment and performance
in full when due of the Indebtedness (whether at stated maturity, by acceleration or otherwise), each Debtor hereby pledges, assigns, transfers and conveys to the Agent as collateral, and grants the Agent a continuing Lien on and security interest
in, all of such Debtor’s right, title and interest in and to the following, whether now owned or hereafter arising or acquired and wherever located (collectively, the “Collateral”): 

 

	 	(a)	all Accounts; 

  

	 	(b)	all Chattel Paper; 

  

	 	(c)	all General Intangibles; 

  

	 	(d)	all Equipment; 

  

	 	(e)	all Inventory; 

  

	 	(f)	all Documents; 

  

	 	(g)	all Instruments; 

  

	 	(h)	all Deposit Accounts and any other cash collateral, deposit or investment accounts, including all cash collateral, deposit or investment accounts established or maintained pursuant to the terms of this Agreement or the
other Loan Documents; 

  

	 	(i)	all Computer Records and Software, whether relating to the foregoing Collateral or otherwise, but in the case of such Software, subject to the rights of any non-affiliated licensee of software; 

 

	 	(j)	all Investment Property; and 

  

	 	(k)	the Proceeds, in cash or otherwise, of any of the property described in the foregoing clauses (a) through (j) and all Liens, security, rights, remedies and claims of such Debtor with respect thereto (provided
that the grant of a security interest in Proceeds set forth is in this subsection (k) shall not be deemed to give the applicable Debtor any right to dispose of any of the Collateral, except as may otherwise be permitted pursuant to the terms of
the Credit Agreement); 

 provided, however, that “Collateral” shall not include (a) the Blocked Account or
(b) rights under or with respect to any General Intangible, license, permit or authorization to the extent any such General Intangible, license, permit or authorization, by its terms or by law, prohibits the assignment of, or the granting of a
Lien over the rights of a grantor thereunder or which would be invalid or unenforceable upon any such assignment or grant (the “Restricted Assets”), provided that (A) the Proceeds of any Restricted Asset shall continue
to be deemed to be “Collateral”, and (B) this provision shall not limit the grant of any Lien on or assignment of any Restricted Asset to the extent that the UCC or any other applicable law provides that such grant of Lien or
assignment is effective irrespective of any prohibitions to such grant provided in any Restricted Asset (or the underlying documents related thereto). Concurrently with any such Restricted Asset being entered into or arising after the date hereof,
the applicable Debtor shall be obligated to obtain any waiver or consent (in form and substance acceptable to the Agent) necessary to allow such Restricted Asset to constitute Collateral hereunder if the failure of such Debtor to have such
Restricted Asset would have a Material Adverse Effect. 

  
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 Section 2.2 Debtors Remain Liable. Notwithstanding anything to the contrary
contained herein, (a) the Debtors shall remain liable under the contracts, agreements, documents and instruments included in the Collateral to the extent set forth therein to perform all of its duties and obligations thereunder to the same
extent as if this Agreement had not been executed, (b) the exercise by the Agent or any Lender of any of their respective rights or remedies hereunder shall not release the Debtors from any of their duties or obligations under the contracts,
agreements, documents and instruments included in the Collateral, and (c) neither the Agent nor any of the Lenders shall have any indebtedness, liability or obligation (by assumption or otherwise) under any of the contracts, agreements,
documents and instruments included in the Collateral by reason of this Agreement, and none of them shall be obligated to perform any of the obligations or duties of the Debtors thereunder or to take any action to collect or enforce any claim for
payment assigned hereunder. 
 ARTICLE 3 

Representations and Warranties 

To induce the Agent to enter into this Agreement and the Agent and the Lenders to enter into the Credit Agreement, each Debtor represents and
warrants to the Agent and to each Lender as follows, each such representation and warranty being a continuing representation and warranty, surviving until termination of this Agreement in accordance with the provisions of Section 7.12
of this Agreement: 
 Section 3.1 Title. Such Debtor is, and with respect to Collateral acquired after the date
hereof such Debtor will be, the legal and beneficial owner of the Collateral free and clear of any Lien or other encumbrance, except for the Permitted Liens, provided that, other than the Lien established under this Agreement, no Lien on any Pledged
Shares shall constitute a Permitted Lien. 
 Section 3.2 Change in Form or Jurisdiction; Successor by Merger; Location of Books
and Records. As of the date hereof, each Debtor (a) is duly organized and validly existing as a corporation (or other business organization) under the laws of its jurisdiction of organization; (b) is formed in the jurisdiction of
organization and has the registration number and tax identification number set forth on Schedule 3.2 attached hereto; (c) has not changed its respective corporate form or its jurisdiction of organization at any time during
the five years immediately prior to the date hereof, except as set forth on such Schedule 3.2; (d) except as set forth on such Schedule 3.2 attached hereto, no Debtor has, at any time during the five years
immediately prior to the date hereof, become the successor by merger, consolidation, acquisition, change in form, nature or jurisdiction of organization or otherwise of any other Person, and (e) keeps true and accurate books and records
regarding the Collateral (the “Records”) in the office indicated on such Schedule 3.2. 

Section 3.3 Representations and Warranties Regarding Certain Types of Collateral. 

 

	 	(a)	Location of Inventory and Equipment. As of the date hereof, (i) all Inventory (except Inventory in transit) and Equipment (except trailers, rolling stock, vessels, aircraft and Vehicles) of each
Debtor are located at the places specified on Schedule 3.3(a) attached hereto, (ii) the name and address of the landlord leasing any location to any Debtor is identified on such Schedule 3.3(a), and
(iii) the name of and address of each bailee or warehouseman which holds any Collateral and the location of such Collateral is identified on such Schedule 3.3(a). 

 

	 	(b)	Account Information. As of the date hereof, all Deposit Accounts, cash collateral accounts or investment accounts of each Debtor (except for those Deposit Accounts located with the Agent) are located at
Square 1 Bank. Schedule 3.3(b) attached hereto sets forth, with respect to each such account, the type of account and the account number. 

  

	 	(c)	Documents. As of the date hereof, except as set forth on Schedule 3.3(c), none of the Inventory or Equipment of such Debtor (other than trailers, rolling stock, vessels, aircraft and
Vehicles) is evidenced by a Document (including, without limitation, a negotiable document of title). 

  

	 	(d)	 Intellectual Property. Set forth on Schedule 1.1 (the same may be amended from time to time) is a true and correct list of
the registered Patents, Patent Licenses, registered Trademarks, Trademark 

  
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Licenses, registered Copyrights and Copyright Licenses owned by the Debtors (including, in the case of the Patents, Trademarks and Copyrights, the applicable name, date of registration (or of
application if registration not completed) and application or registration number). 

 Section 3.4 Pledged
Shares. 
  

	 	(a)	Duly Authorized and Validly Issued. The Pledged Shares that are shares of a corporation have been duly authorized and validly issued and are fully paid and nonassessable, and the Pledged Shares that are
membership interests or partnership units (if any) have been validly granted, under the laws of the jurisdiction of organization of the issuers thereof, and, to the extent applicable, are fully paid and nonassessable. No such membership or
partnership interests constitute “securities” within the meaning of Article 8 of the UCC, and each Debtor covenants and agrees not to allow any such membership or partnership interest to become “securities” for purposes of
Article 8 of the UCC. 

  

	 	(b)	Valid Title; No Liens; No Restrictions. Each Debtor is the legal and beneficial owner of the Pledged Shares, free and clear of any Lien (other than the Liens created by this Agreement), and such Debtor has
not sold, granted any option with respect to, assigned, transferred or otherwise disposed of any of its rights or interest in or to the Pledged Shares. None of the Pledged Shares are subject to any contractual or other restrictions upon the pledge
or other transfer of such Pledged Shares, other than those imposed by securities laws generally. No issuer of Pledged Shares is party to any agreement granting “control” (as defined in Section 8-106 of the UCC) of such Debtor’s
Pledged Shares to any third party. All such Pledged Shares are held by each Debtor directly and not through any securities intermediary. 

  

	 	(c)	Description of Pledged Shares; Ownership. The Pledged Shares constitute the percentage of the issued and outstanding shares of stock, partnership units or membership interests of the issuers thereof
indicated on Schedule 1.2 (as the same may be amended from time to time) and such Schedule contains a description of all shares of capital stock, membership interests and other equity interests of or in any Subsidiaries owned by
such Debtor. 

 Section 3.5 Intellectual Property. 

 

	 	(a)	Filings and Recordation. Each Debtor has made all necessary filings and recordations to protect and maintain its interest in the Trademarks, Patents and Copyrights set forth on Schedule 1.1
(as the same may be amended from time to time), including, without limitation, all necessary filings and recordings, and payments of all maintenance fees, in the United States Patent and Trademark Office and United States Copyright Office to the
extent such Trademarks, Patents and Copyrights are material to such Debtor’s business. Also set forth on Schedule 1.1 (as the same may be amended from time to time) is a complete and accurate list of all of the material Trademark
Licenses, Patent Licenses and Copyright Licenses owned by the Debtors as of the date hereof. 

  

	 	(b)	Trademarks and Trademark Licenses Valid. (i) Each Trademark of the Debtors set forth on Schedule 1.1 (as the same may be amended from time to time) is subsisting and has not been
adjudged invalid, unregisterable or unenforceable, in whole or in part, and, to the Debtors’ knowledge, is valid, registrable and enforceable, (ii) each of the Trademark Licenses set forth on Schedule 1.1 (as the same may be
amended from time to time) is validly subsisting and has not been adjudged invalid or unenforceable, in whole or in part, and, to the Debtors’ knowledge, is valid and enforceable, and (iii) the Debtors have notified the Agent in writing of
all uses of any material item of Trademark Collateral of which any Debtor is aware which could reasonably be expected to lead to such item becoming invalid or unenforceable, including unauthorized uses by third parties and uses which were not
supported by the goodwill of the business connected with such Collateral. 

  

	 	(c)	 Patents and Patent Licenses Valid. (i) Each Patent of the Debtors set forth on Schedule 1.1 (as the same may be
amended from time to time) is subsisting and has not been adjudged invalid, 

  
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unpatentable or unenforceable, in whole or in part, and, to the Debtors’ knowledge, is valid, patentable and enforceable except as otherwise set forth on Schedule 1.1 (as the
same may be amended from time to time), (ii) each of the Patent Licenses set forth on Schedule 1.1 (as the same may be amended from time to time) is validly subsisting and has not been adjudged invalid or unenforceable, in whole
or in part, and, to the Debtors’ knowledge, is valid and enforceable, and (iii) the Debtors have notified the Agent in writing of all uses of any item of Patent Collateral material to any Debtor’s business of which any Debtor is aware
which could reasonably be expected to lead to such item becoming invalid or unenforceable. 

  

	 	(d)	Copyright and Copyright Licenses Valid. (i) Each Copyright of the Debtors set forth on Schedule 1.1 (as the same may be amended from time to time) is subsisting and has not been adjudged
invalid, uncopyrightable or unenforceable, in whole or in part, and, to the Debtors’ knowledge, is valid, copyrightable and enforceable, (ii) each of the Copyright Licenses set forth on Schedule 1.1 (as the same may be
amended from time to time) is validly subsisting and has not been adjudged invalid or unenforceable, in whole or in part, and, to the Debtors’ knowledge, is valid and enforceable, and (iii) the Debtors have notified the Agent in writing of
all uses of any item of Copyright Collateral material to any Debtor’s business of which any Debtor is aware which could reasonably be expected to lead to such item becoming invalid or unenforceable. 

 

	 	(e)	No Assignment. The Debtors have not made a previous assignment, sale, transfer or agreement constituting a present or future assignment, sale, transfer or encumbrance of any of the Intellectual Property
Collateral, except with respect to non-exclusive licenses granted in the ordinary course of business or as permitted by this Agreement or the Loan Documents. No Debtor has granted any license, shop right, release, covenant not to sue, or
non-assertion assurance to any Person with respect to any part of the Intellectual Property Collateral, except as set forth on Schedule 1.1 or as otherwise disclosed to the Agent in writing. 

 

	 	(f)	Products Marked. Each Debtor has marked its products with the trademark registration symbol, copyright notices, the numbers of all appropriate patents, the common law trademark symbol or the designation
“patent pending,” as the case may be, to the extent that such Debtor, in good faith, believes is reasonably and commercially practicable. 

  

	 	(g)	Other Rights. Except for the Trademark Licenses, Patent Licenses and Copyright Licenses listed on Schedule 1.1 hereto under which a Debtor is a licensee, no Debtor has knowledge of the
existence of any right or any claim (other than as provided by this Agreement) that is likely to be made under or against any item of Intellectual Property Collateral contained on Schedule 1.1 to the extent such claim could reasonably
be expected to have a Material Adverse Effect. 

  

	 	(h)	No Claims. Except as set forth on Schedule 1.1 or as otherwise disclosed to the Agent in writing, no claim has been made and is continuing or, to any Debtor’s knowledge, threatened that
the use by any Debtor of any item of Intellectual Property Collateral is invalid or unenforceable or that the use by any Debtor of any Intellectual Property Collateral does or may violate the rights of any Person. To the Debtors’ knowledge,
there is no infringement or unauthorized use of any item of Intellectual Property Collateral contained on Schedule 1.1 or as otherwise disclosed to the Agent in writing. 

 

	 	(i)	 No Consent. No consent of any party (other than such Debtor) to any Patent License, Copyright License or Trademark License constituting
Intellectual Property Collateral is required, or purports to be required, to be obtained by or on behalf of such Debtor in connection with the execution, delivery and performance of this Agreement that has not been obtained. Each Patent License,
Copyright License and Trademark License constituting Intellectual Property Collateral is in full force and effect and constitutes a valid and legally enforceable obligation of the applicable Debtor and (to the knowledge of the Debtors) each other
party thereto except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditor’s rights generally and by general equitable principles (whether enforcement is
sought by proceedings in equity or at law). No consent or authorization of, filing 

  
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with or other act by or in respect of any Governmental Authority is required in connection with the execution, delivery, performance, validity or enforceability of any of the Patent Licenses,
Copyright Licenses or Trademark Licenses by any party thereto other than those which have been duly obtained, made or performed and are in full force and effect. Neither the Debtors nor (to the knowledge of any Debtor) any other party to any Patent
License, Copyright License or Trademark License constituting Collateral is in default in the performance or observance of any of the terms thereof, except for such defaults as would not reasonably be expected, in the aggregate, to have a material
adverse effect on the value of the Intellectual Property Collateral. To the knowledge of such Debtor, the right, title and interest of the applicable Debtor in, to and under each Patent License, Copyright License and Trademark License constituting
Intellectual Property Collateral is not subject to any defense, offset, counterclaim or claim. 

 Section 3.6
Priority. No financing statement, security agreement or other Lien instrument covering all or any part of the Collateral is on file in any public office with respect to any outstanding obligation of such Debtor except (i) as may have
been filed in favor of the Agent pursuant to this Agreement and the other Loan Documents and (ii) financing statements filed to perfect Permitted Liens (which shall not, in any event, grant a Lien over the Pledged Shares). 

Section 3.7 Perfection. Upon (a) the filing of Uniform Commercial Code financing statements in the jurisdictions
listed on Schedule 3.7 attached hereto, and (b) the recording of this Agreement in the United States Patent and Trademark Office and the United States Copyright Office, the security interest in favor of the Agent created
herein will constitute a valid and perfected Lien upon and security interest in the Collateral which may be created and perfected either under the UCC by filing financing statements or by a filing with the United States Patent and Trademark Office
and the United States Copyright Office. 
 ARTICLE 4 

Covenants 
 Each
Debtor covenants and agrees with the Agent, until termination of this Agreement in accordance with the provisions of Section 7.12 hereof, as follows: 

Section 4.1 Covenants Regarding Certain Kinds of Collateral 

(a) Promissory Notes and Tangible Chattel Paper. If Debtors, now or at any time hereafter, collectively hold or acquire
any promissory notes or tangible Chattel Paper for which the principal amount thereof or the obligations evidenced thereunder are, in the aggregate, in excess of $100,000 , the applicable Debtors shall promptly notify the Agent in writing thereof
and forthwith endorse, assign and deliver the same to the Agent, accompanied by such instruments of transfer or assignment duly executed in blank as the Agent may from time to time reasonably specify, and cause all such Chattel Paper to bear a
legend reasonably acceptable to the Agent indicating that the Agent has a security interest in such Chattel Paper. 
 (b) Electronic
Chattel Paper and Transferable Records. If Debtors, now or at any time hereafter, collectively hold or acquire an interest in any electronic Chattel Paper or any “transferable record,” as that term is defined in the federal
Electronic Signatures in Global and National Commerce Act, or in the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, worth, in the aggregate, in excess of $100,000, the applicable Debtors shall promptly notify the
Agent thereof and, at the request and option of the Agent, shall take such action as the Agent may reasonably request to vest in the Agent control, under Section 9-105 of the UCC, of such electronic chattel paper or control under the federal
Electronic Signatures in Global and National Commerce Act, or the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. 

(c) Letter-of-Credit Rights. If Debtors, now or at any time hereafter, collectively are or become beneficiaries under letters of
credit, with an aggregate face amount in excess of $100,000, the applicable Debtors shall promptly notify the Agent thereof and, at the request of the Agent, the applicable Debtors shall, pursuant to an agreement in form and substance reasonably
satisfactory to the Agent either arrange (i) for the issuer and any confirmer of such letters of credit to consent to an assignment to the Agent of the proceeds of the letters of credit or (ii) for the Agent to become the transferee
beneficiary of the letters of credit, together with, in each case, any such 

  
 9 

 
other actions as reasonably requested by the Agent to perfect its first priority Lien in such letter of credit rights. The applicable Debtor shall retain the proceeds of the applicable letters of
credit until a Default or Event of Default has occurred and is continuing whereupon the proceeds are to be delivered to the Agent and applied as set forth in the Credit Agreement. 

(d) Commercial Tort Claims. If Debtors, now or at any time hereafter, collectively hold or acquire any commercial tort claims,
which, the reasonably estimated value of which are in aggregate excess of $100,000, the applicable Debtors shall immediately notify the Agent in a writing signed by such Debtors of the particulars thereof and grant to the Agent in such writing a
security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Agent. 

(e) Pledged Shares. All certificates or instruments representing or evidencing the Pledged Shares or any Debtor’s rights
therein shall be delivered to the Agent promptly upon Debtor gaining any rights therein, in suitable form for transfer by delivery or accompanied by duly executed stock powers or instruments of transfer or assignments in blank, all in form and
substance reasonably acceptable to the Agent. 
 (f) Equipment and Inventory 

 

	 	(i)	Location. Each Debtor shall keep the Equipment (other than Vehicles) and Inventory (other than Inventory in transit) which is in such Debtor’s possession or in the possession of any bailee or
warehouseman at any of the locations specified on Schedule 3.3(a) attached hereto or as otherwise disclosed in writing to the Agent from time to time, subject to compliance with the other provisions of this Agreement, including
subsection (ii) below. 

  

	 	(ii)	Landlord Consents and Bailee’s Waivers. Each Debtor shall provide, as applicable, a bailee’s waiver or landlord consent, in form and substance acceptable to the Agent, for each non-Debtor owned
location of Collateral disclosed on Schedule 3.3(a) or otherwise disclosed to the Agent in writing, promptly after leasing such location, and shall take all other actions required by the Agent to perfect the Agent’s security
interest in the Equipment and Inventory with the priority required by this Agreement. 

  

	 	(iii)	Maintenance. Each Debtor shall maintain the Equipment and Inventory in such condition as may be specified by the terms of the Credit Agreement. 

(g) Intellectual Property. 
  

	 	(i)	Trademarks. Each Debtor agrees to take all necessary steps, including, without limitation, in the United States Patent and Trademark Office or in any court, to (x) defend, enforce, preserve the
validity and ownership of, and maintain each Trademark registration and each Trademark License identified on Schedule 1.1 hereto, and (y) pursue each trademark application now or hereafter identified on Schedule 1.1
hereto, including, without limitation, the filing of responses to office actions issued by the United States Patent and Trademark Office, the filing of applications for renewal, the filing of affidavits under Sections 8 and 15 of the United
States Trademark Act, and the participation in opposition, cancellation, infringement and misappropriation proceedings, except, in each case in which the Debtors have determined, using their commercially reasonable judgment, that any of the
foregoing is not of material economic value to them. Each Debtor agrees to take corresponding steps with respect to each new or acquired Trademark registration, Trademark application or any rights obtained under any Trademark License, in each case,
which it is now or later becomes entitled, except in each case in which such Debtor has determined, using its commercially reasonable judgment, that any of the foregoing is not of material economic value to it. Any expenses incurred in connection
with such activities shall be borne by the Debtors. 

  
 10 

	 	(ii)	Patents. Each Debtor agrees to take all necessary steps, including, without limitation, in the United States Patent and Trademark Office or in any court, to (x) defend, enforce, preserve the validity
and ownership of, and maintain each Patent and each Patent License identified on Schedule 1.1 hereto, and (y) pursue each patent application, now or hereafter identified on Schedule 1.1 hereto, including, without
limitation, the filing of divisional, continuation, continuation-in-part and substitute applications, the filing of applications for reissue, renewal or extensions, the payment of maintenance fees, and the participation in interference,
reexamination, opposition, infringement and misappropriation proceedings, except in each case in which the Debtors have determined, using their commercially reasonable judgment, that any of the foregoing is not of material economic value to them.
Each Debtor agrees to take corresponding steps with respect to each new or acquired Patent, patent application, or any rights obtained under any Patent License, in each case, which it is now or later becomes entitled, except in each case in which
the Debtors have determined, using their commercially reasonable judgment, that any of the foregoing is not of material economic value to them. Any expenses incurred in connection with such activities shall be borne by the Debtors.

  

	 	(iii)	Copyrights. Each Debtor agrees to take all necessary steps, including, without limitation, in the United States Copyright Office or in any court, to (x) defend, enforce, and preserve the validity and
ownership of each Copyright and each Copyright License identified on Schedule 1.1 hereto, and (y) pursue each Copyright and mask work application, now or hereafter identified on Schedule 1.1 hereto, including,
without limitation, the payment of applicable fees, and the participation in infringement and misappropriation proceedings, except in each case in which the Debtors have determined, using their commercially reasonable judgment, that any of the
foregoing is not of material economic value to them. Each Debtor agrees to take corresponding steps with respect to each new or acquired Copyright, Copyright and mask work application, or any rights obtained under any Copyright License, in each
case, which it is now or later becomes entitled, except in each case in which the Debtors have determined, using their commercially reasonable judgment, that any of the foregoing is not of material economic value to them. Any expenses incurred in
connection with such activities shall be borne by the Debtors. 

  

	 	(iv)	No Abandonment. The Debtors shall not abandon any Trademark, Patent, Copyright or any pending Trademark, Copyright, mask work or Patent application, without the written consent of the Agent, unless the
Debtors shall have previously determined, using their commercially reasonable judgment, that such use or the pursuit or maintenance of such Trademark registration, Patent, Copyright registration or pending Trademark, Copyright, mask work or Patent
application is not of material economic value to it, in which case, the Debtors shall give notice of any such abandonment to the Agent promptly in writing after the determination to abandon such Intellectual Property Collateral is made.

  

	 	(v)	No Infringement. In the event that a Debtor becomes aware that any item of the Intellectual Property Collateral which such Debtor has determined, using its commercially reasonable judgment, to be material
to its business is infringed or misappropriated by a third party, such Debtor shall promptly notify the Agent promptly and in writing, in reasonable detail, and shall take such actions as such Debtor or the Agent deems reasonably appropriate under
the circumstances to protect such Intellectual Property Collateral, including, without limitation, suing for infringement or misappropriation and for an injunction against such infringement or misappropriation. Any expense incurred in connection
with such activities shall be borne by the Debtors. Each Debtor will advise the Agent promptly and in writing, in reasonable detail, of any adverse determination or the institution of any proceeding (including, without limitation, the institution of
any proceeding in the United States Patent and Trademark Office, the United States Copyright Office or any court) regarding any material item of the Intellectual Property Collateral. 

  
 11 

	 	(h)	Accounts and Contracts. Each Debtor shall, in accordance with its usual business practices in effect from time to time, endeavor to collect or cause to be collected from each account debtor under its
Accounts, as and when due, any and all amounts owing under such Accounts. So long as no Default or Event of Default has occurred and is continuing and except as otherwise provided in Section 6.3, each Debtor shall have the right
to collect and receive payments on its Accounts, and to use and expend the same in its operations in each case in compliance with the terms of the Credit Agreement. 

 

	 	(i)	Vehicles; Aircraft and Vessels. Notwithstanding any other provision of this Agreement, no Debtor shall be required to make any filings as may be necessary to perfect the Agent’s Lien on its Vehicles,
aircraft and vessels, unless (i) a Default or an Event of Default has occurred and is continuing, whereupon the Agent may require such filings be made or (ii) such Debtor, either singly, or together with the other Debtors, owns Vehicles,
aircraft and vessels (other than Vehicles provided for use by such Debtor’s executive employees) which have a fair market value of at least $100,000, in aggregate amount, whereupon the applicable Debtors shall provide prompt notice to the
Agent, and the Agent, at its option, may require the applicable Debtors to execute such agreements and make such filings as may be necessary to perfect the Agent’s Lien for the benefit of the Lenders and ensure the priority thereof on the
applicable Vehicles, aircraft and vessels. 

  

	 	(j)	Life Insurance Policies. If any Debtor, now or any time hereafter, is the beneficiary of a “key man life insurance policy”, it shall promptly notify the Agent thereof, provide the Agent with a
true and correct list of the Persons insured, the name and address of the insurance company providing the coverage, the amount of such insurance and the policy number, and, unless otherwise waived by the Agent in writing, take such actions as Agent
may deem necessary or the Agent shall deem reasonably desirable to collaterally assign policy to the Agent for the benefit of the Lenders. 

  

	 	(k)	Deposit Accounts. Each Debtor agrees to promptly notify the Agent in writing of all Deposit Accounts, cash collateral accounts or investments accounts opened at Square 1 Bank after the date hereof. No
Debtor shall maintain any Deposit Account, cash collateral account or investment account with any institution other than Comerica Bank or Square 1 Bank, in accordance with Section 7.14 of the Credit Agreement. 

Section 4.2 Encumbrances. Each Debtor shall not create, permit or suffer to exist, and shall defend the Collateral against
any Lien (other than the Permitted Liens, provided that no Lien, other than the Lien created hereunder, shall exist over the Pledged Shares) or any restriction upon the pledge or other transfer thereof (other than as specifically permitted in the
Credit Agreement), and shall defend such Debtor’s title to and other rights in the Collateral and the Agent’s pledge and collateral assignment of and security interest in the Collateral against the claims and demands of all Persons. Except
to the extent permitted by the Credit Agreement or in connection with any release of Collateral under Section 7.13 hereof (but only to the extent of any Collateral so released), such Debtor shall do nothing to impair the rights of
the Agent in the Collateral. 
 Section 4.3 Disposition of Collateral. Except as otherwise permitted under the Credit
Agreement, no Debtor shall enter into or consummate any transfer or other disposition of Collateral. 
 Section 4.4
Insurance. The Collateral pledged by such Debtor or the Debtors will be insured (to the extent such Collateral is insurable) with insurance coverage in such amounts and of such types as are required by the terms of the Credit
Agreement. In the case of all such insurance policies, each such Debtor shall designate the Agent, as mortgagee or lender loss payee and such policies shall provide that any loss be payable to the Agent, as mortgagee or lender loss payee, as its
interests may appear. Further, upon the request of the Agent, each such Debtor shall deliver certificates evidencing such policies, including all endorsements thereon and those required hereunder, to the Agent; and each such Debtor assigns to the
Agent, as additional security hereunder, all its rights to receive proceeds of insurance with respect to the Collateral. All such insurance shall, by its terms, provide that the applicable carrier shall, prior to any cancellation before the
expiration date thereof, mail thirty (30) days’ prior written notice to the Agent of such cancellation. Each Debtor further shall provide the Agent upon request with evidence reasonably satisfactory to the Agent that each such Debtor is at
all times in compliance with this 

  
 12 

 
paragraph. Upon the occurrence and during the continuance of a Default or an Event of Default, the Agent may, at its option, act as each such Debtor’s attorney-in-fact in obtaining,
adjusting, settling and compromising such insurance and endorsing any drafts. Upon such Debtor’s failure to insure the Collateral as required in this covenant, the Agent may, at its option, procure such insurance and its costs therefor shall be
charged to such Debtor, payable on demand, with interest at the highest rate set forth in the Credit Agreement and added to the Indebtedness secured hereby. The disposition of proceeds payable to such Debtor of any insurance on the Collateral (the
“Insurance Proceeds”) shall be governed by the following: 
  

	 	(a)	provided that no Default or Event of Default has occurred and is continuing hereunder, (i) if the amount of Insurance Proceeds in respect of any loss or casualty does not exceed One Hundred Thousand Dollars
($100,000), such Debtor shall be entitled, in the event of such loss or casualty, to receive all such Insurance Proceeds and to apply the same toward the replacement of the Collateral affected thereby or to the purchase of other assets to be used in
such Debtor’s business (provided that such assets shall be subjected to a first priority Lien in favor of the Agent and such repurchase of assets shall occur within 180 days of such Debtor receiving the Insurance Proceeds); and (ii) if the
amount of Insurance Proceeds in respect of any loss or casualty exceeds One Hundred Thousand Dollars ($100,000), such Insurance Proceeds shall be paid to and received by the Agent, for release to such Debtor for the replacement of the Collateral
affected thereby or to the purchase of other assets to be used in such Debtor’s business (provided that such assets shall be subjected to a first priority Lien in favor of the Agent); or, upon written request of such Debtor (accompanied by
reasonable supporting documentation), for such other use or purpose as approved by the Agent in its reasonable discretion, it being understood and agreed in connection with any release of funds under this subparagraph (ii), that the Agent may impose
reasonable and customary conditions on the disbursement of such Insurance Proceeds; provided further that if such proceeds are not, as applicable, used by the Debtors to repurchase assets or released by the Agent to the Debtors under this clause
(a) within 180 days, or if at any time prior to the end of such 180 day period, a Default or Event of Default has occurred, such proceeds shall be applied to the Indebtedness in accordance with clause (b) below; and 

 

	 	(b)	if a Default or Event of Default has occurred or is continuing and is not waived as provided in the Credit Agreement, all Insurance Proceeds in respect of any loss or casualty shall be paid to and received by the Agent,
to be applied by the Agent against the Indebtedness in the manner specified in the Credit Agreement. 

 Section 4.5
Corporate Changes; Books and Records; Inspection Rights. (a) No Debtor shall change its respective name, identity, corporate structure or jurisdiction of organization, or identification number in any manner that might make any
financing statement filed in connection with this Agreement seriously misleading within the meaning of Section 9-506 of the UCC unless such Debtor shall have given the Agent thirty (30) days prior written notice with respect to any change
in such Debtor’s corporate structure, jurisdiction of organization, name or identity and shall have taken all action deemed reasonably necessary by the Agent under the circumstances to protect its Liens and the perfection and priority thereof,
(b) each Debtor shall keep the Records at the location specified on Schedule 3.2 as the location of such books and records or as otherwise specified in writing to the Agent and (c) the Debtors shall permit the Agent, the
Lenders, and their respective agents and representatives to conduct inspections, discussion and audits of the Collateral in accordance with the terms of the Credit Agreement. 

Section 4.6 Notification of Lien; Continuing Disclosure. (a) Each Debtor shall promptly notify the Agent in writing of
any Lien, encumbrance or claim (other than a Permitted Lien, to the extent not otherwise subject to any notice requirements under the Credit Agreement) that has attached to or been made or asserted against any of the Collateral upon becoming aware
of the existence of such Lien, encumbrance or claim; and (b) concurrently with delivery of the Covenant Compliance Report for each fiscal year, Debtors shall execute and deliver to the Agent a Collateral Compliance Report in the form attached
hereto as Exhibit C. 
 Section 4.7 Covenants Regarding Pledged Shares 

 

	 	(a)	Voting Rights and Distributions. 

  
 13 

	 	(i)	So long as no Default or Event of Default shall have occurred and be continuing (both before and after giving effect to any of the actions or other matters described in clauses (A) or (B) of this
subparagraph): 

  

	 	(A)	Each Debtor shall be entitled to exercise any and all voting and other consensual rights (including, without limitation, the right to give consents, waivers and ratifications) pertaining to any of the Pledged Shares or
any part thereof; provided, however, that no vote shall be cast or consent, waiver or ratification given or action taken without the prior written consent of the Agent which would violate any provision of this Agreement or the Credit
Agreement; and 

  

	 	(B)	Except as otherwise provided by the Credit Agreement, such Debtor shall be entitled to receive and retain any and all dividends, distributions and interest paid in respect to any of the Pledged Shares.

  

	 	(ii)	Upon the occurrence and during the continuance of a Default or an Event of Default: 

  

	 	(A)	The Agent may, without notice to such Debtor, transfer or register in the name of the Agent or any of its nominees, for the equal and ratable benefit of the Lenders, any or all of the Pledged Shares and the Proceeds
thereof (in cash or otherwise) held by the Agent hereunder, and the Agent or its nominee may thereafter, after delivery of notice to such Debtor, exercise all voting and corporate rights at any meeting of any corporation issuing any of the Pledged
Shares and any and all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining to any of the Pledged Shares as if the Agent were the absolute owner thereof, including, without limitation, the right to
exchange, at its discretion, any and all of the Pledged Shares upon the merger, consolidation, reorganization, recapitalization or other readjustment of any corporation issuing any of such Pledged Shares or upon the exercise by any such issuer or
the Agent of any right, privilege or option pertaining to any of the Pledged Shares, and in connection therewith, to deposit and deliver any and all of the Pledged Shares with any committee, depositary, transfer agent, registrar or other designated
agency upon such terms and conditions as the Agent may determine, all without liability except to account for property actually received by it, but the Agent shall have no duty to exercise any of the aforesaid rights, privileges or options, and the
Agent shall not be responsible for any failure to do so or delay in so doing. 

  

	 	(B)	All rights of such Debtor to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to Section 4.7(a)(i)(A) and to receive the dividends, interest
and other distributions which it would otherwise be authorized to receive and retain pursuant to Section 4.7(a)(i)(B) shall be suspended until such Default or Event of Default shall no longer exist, and all such rights shall,
until such Default or Event of Default shall no longer exist, thereupon become vested in the Agent which shall thereupon have the sole right to exercise such voting and other consensual rights and to receive, hold and dispose of as Pledged Shares
such dividends, interest and other distributions. 

  

	 	(C)	All dividends, interest and other distributions which are received by such Debtor contrary to the provisions of this Section 4.7(a)(ii) shall be received in trust for the benefit of the Agent, shall
be segregated from other funds of such Debtor and shall be forthwith paid over to the Agent as Collateral in the same form as so received (with any necessary endorsement). 

 

	 	(D)	 Each Debtor shall execute and deliver (or cause to be executed and delivered) to the Agent all such proxies and other instruments as the Agent may
reasonably 

  
 14 

	 	
request for the purpose of enabling the Agent to exercise the voting and other rights which it is entitled to exercise pursuant to this Section 4.7(a)(ii) and to receive the
dividends, interest and other distributions which it is entitled to receive and retain pursuant to this Section 4.7(a)(ii). The foregoing shall not in any way limit the Agent’s power and authority granted pursuant to the
other provisions of this Agreement. 

 (b) Possession; Reasonable Care. Regardless of whether a Default
or an Event of Default has occurred or is continuing, the Agent shall have the right to hold in its possession all Pledged Shares pledged, assigned or transferred hereunder and from time to time constituting a portion of the Collateral. The Agent
may appoint one or more agents (which in no case shall be a Debtor or an affiliate of a Debtor) to hold physical custody, for the account of the Agent, of any or all of the Collateral. The Agent shall be deemed to have exercised reasonable care in
the custody and preservation of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which the Agent accords its own property, it being understood that the Agent shall not have any responsibility for
(i) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Collateral, whether or not the Agent has or is deemed to have knowledge of such matters, or (ii) taking
any necessary steps to preserve rights against any parties with respect to any Collateral, except, subject to the terms hereof, upon the written instructions of the Lenders. Following the occurrence and continuance of an Event of Default, the Agent
shall be entitled to take ownership of the Collateral in accordance with the UCC. 
 Section 4.8 New Subsidiaries; Additional
Collateral  
  

	 	(a)	With respect to each Person which becomes a Subsidiary of a Debtor subsequent to the date hereof, execute and deliver such joinders or security agreements or other pledge documents as are required by the Credit
Agreement, within the time periods set forth therein. 

  

	 	(b)	Each Debtor agrees that, (i) except with the written consent of the Agent, it will not permit any Domestic Subsidiary (whether now existing or formed after the date hereof) to issue to such Debtor or any of such
Debtor’s other Subsidiaries any shares of stock, membership interests, partnership units, notes or other securities or instruments (including without limitation the Pledged Shares) in addition to or in substitution for any of the Collateral,
unless, concurrently with each issuance thereof, any and all such shares of stock, membership interests, partnership units, notes or instruments are encumbered in favor of the Agent under this Agreement or otherwise (it being understood and agreed
that all such shares of stock, membership interests, partnership units, notes or instruments issued to such Debtor shall, without further action by such Debtor or the Agent, be automatically encumbered by this Agreement as Pledged Shares) and
(ii) it will promptly following the issuance thereof deliver to the Agent (A) an amendment, duly executed by such Debtor, in substantially the form of Exhibit A hereto in respect of such shares of stock, membership
interests, partnership units, notes or instruments issued to such Debtor or (B) if reasonably required by the Lenders, a new stock pledge, duly executed by the applicable Debtor, in substantially the form of this Agreement (a “New
Pledge”), in respect of such shares of stock, membership interests, partnership units, notes or instruments issued to any Debtor granting to the Agent, for the benefit of the Lenders, a first priority security interest, pledge and Lien
thereon, together in each case with all certificates, notes or other instruments representing or evidencing the same, together with such other documentation as the Agent may reasonably request. Such Debtor hereby (x) authorizes the Agent to
attach each such amendment to this Agreement, (y) agrees that all such shares of stock, membership interests, partnership units, notes or instruments listed in any such amendment delivered to the Agent shall for all purposes hereunder
constitute Pledged Shares, and (z) is deemed to have made, upon the delivery of each such amendment, the representations and warranties contained in Section 3.4 of this Agreement with respect to the Collateral covered
thereby. 

  

	 	(c)	 With respect to any Intellectual Property Collateral owned, licensed or otherwise acquired by any Debtor after the date hereof, and with respect to
any Patent, Trademark or Copyright which is not registered or filed with the U.S. Patent and Trademark Office and/or the U.S. Copyright Office at 

  
 15 

	 	
the time such Collateral is pledged by a Debtor to the Agent pursuant to this Security Agreement, and which is subsequently registered or filed by such Debtor in the appropriate office, such
Debtor shall promptly after the acquisition or registration thereof execute or cause to be executed and delivered to the Agent, (i) an amendment, duly executed by such Debtor, in substantially the form of Exhibit A hereto, in
respect of such additional or newly registered collateral or (ii) at the Agent’s option, a new security agreement, duly executed by the applicable Debtor, in substantially the form of this Agreement, in respect of such additional or newly
registered collateral, granting to the Agent, for the benefit of the Lenders, a first priority security interest, pledge and Lien thereon (subject only to the Permitted Liens), together in each case with all certificates, notes or other instruments
representing or evidencing the same, and shall, upon the Agent’s request, execute or cause to be executed any financing statement or other document (including without limitation, filings required by the U.S. Patent and Trademark Office and/or
the U.S. Copyright Office in connection with any such additional or newly registered collateral) granting or otherwise evidencing a Lien over such new Intellectual Property Collateral. Each Debtor hereby (x) authorizes the Agent to attach each
amendment to this Agreement, (y) agrees that all such additional collateral listed in any amendment delivered to the Agent shall for all purposes hereunder constitute Collateral, and (z) is deemed to have made, upon the delivery of each
such Amendment, the representations and warranties contained in Section 3.3(d) and Section 3.5 of this Agreement with respect to the Collateral covered thereby. 

Section 4.9 Further Assurances (a) At any time and from time to time, upon the request of the Agent, and at the sole
expense of the Debtors, each Debtor shall promptly execute and deliver all such further agreements, documents and instruments and take such further action as the Agent may reasonably deem necessary or appropriate to (i) preserve, ensure the
priority, effectiveness and validity of and perfect the Agent’s security interest in and pledge and collateral assignment of the Collateral (including causing the Agent’s name to be noted as secured party on any certificate of title for a
titled good if such notation is a condition of the Agent’s ability to enforce its security interest in such Collateral), unless such actions are specifically waived under the terms of this Agreement and the other Loan Documents, (ii) carry
out the provisions and purposes of this Agreement and (iii) to enable the Agent to exercise and enforce its rights and remedies hereunder with respect to any of the Collateral. Except as otherwise expressly permitted by the terms of the Credit
Agreement relating to disposition of assets and except for Permitted Liens (except for Pledged Shares, over which the only Lien shall be that Lien established under this Agreement), each Debtor agrees to maintain and preserve the Agent’s
security interest in and pledge and collateral assignment of the Collateral hereunder and the priority thereof. 
 (b) Each Debtor hereby
irrevocably authorizes the Agent at any time and from time to time to file in any filing office in any jurisdiction any initial financing statements and amendments thereto that (i) indicate any or all of the Collateral upon which the Debtors
have granted a Lien, and (ii) provide any other information required by Part 5 of Article 9 of the UCC, including organizational information and in the case of a fixture filing or a filing for Collateral consisting of as-extracted collateral or
timber to be cut, a sufficient description of real property to which the Collateral relates. Each Debtor agrees to furnish any such information required by the preceding paragraph to the Agent promptly upon request. 

ARTICLE 5 
 Rights of
the Agent 
 Section 5.1 Power of Attorney. Each Debtor hereby irrevocably constitutes and appoints the Agent and
any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the name of such Debtor or in its own name, to take, after the occurrence and during the continuance
of an Event of Default, any and all actions, and to execute any and all documents and instruments which the Agent at any time and from time to time deems necessary, to accomplish the purposes of this Agreement and, without limiting the generality of
the foregoing, such Debtor hereby gives the Agent the power and right on behalf of such Debtor and in its own name to do any of the following after the occurrence and during the continuance of an Event of Default, without notice to or the consent of
such Debtor: 
  

	 	(a)	 to demand, sue for, collect or receive, in the name of such Debtor or in its own name, any money or property at any time payable or receivable on
account of or in exchange for any of the 

  
 16 

	 	
Collateral and, in connection therewith, endorse checks, notes, drafts, acceptances, money orders, documents of title or any other instruments for the payment of money under the Collateral or any
policy of insurance; 

  

	 	(b)	to pay or discharge taxes, Liens (other than Permitted Liens) or other encumbrances levied or placed on or threatened against the Collateral; 

 

	 	(c)	(i) to direct account debtors and any other parties liable for any payment under any of the Collateral to make payment of any and all monies due and to become due thereunder directly to the Agent or as the Agent shall
direct; (ii) to receive payment of and receipt for any and all monies, claims and other amounts due and to become due at any time in respect of or arising out of any Collateral; (iii) to sign and endorse any invoices, freight or express
bills, bills of lading, storage or warehouse receipts, drafts against debtors, assignments, proxies, stock powers, verifications and notices in connection with accounts and other documents relating to the Collateral; (iv) to commence and
prosecute any suit, action or proceeding at law or in equity in any court of competent jurisdiction to collect the Collateral or any part thereof and to enforce any other right in respect of any Collateral; (v) to defend any suit, action or
proceeding brought against such Debtor with respect to any Collateral; (vi) to settle, compromise or adjust any suit, action or proceeding described above and, in connection therewith, to give such discharges or releases as the Agent may deem
appropriate; (vii) to exchange any of the Collateral for other property upon any merger, consolidation, reorganization, recapitalization or other readjustment of the issuer thereof and, in connection therewith, deposit any of the Collateral
with any committee, depositary, transfer agent, registrar or other designated agency upon such terms as the Agent may determine; (viii) to add or release any guarantor, indorser, surety or other party to any of the Collateral; (ix) to
renew, extend or otherwise change the terms and conditions of any of the Collateral; (x) to make, settle, compromise or adjust any claim under or pertaining to any of the Collateral (including claims under any policy of insurance);
(xi) subject to any pre-existing rights or licenses, to assign any Patent, Copyright or Trademark constituting Intellectual Property Collateral (along with the goodwill of the business to which any such Patent, Copyright or Trademark pertains),
for such term or terms, on such conditions and in such manner, as the Agent shall in its sole discretion determine, and (xii) to sell, transfer, pledge, convey, make any agreement with respect to, or otherwise deal with, any of the Collateral
as fully and completely as though the Agent were the absolute owner thereof for all purposes, and to do, at the Agent’s option and such Debtor’s expense, at any time, or from time to time, all acts and things which the Agent deems
necessary to protect, preserve, maintain, or realize upon the Collateral and the Agent’s security interest therein. 

This power of attorney is a power coupled with an interest and shall be irrevocable. The Agent shall be under no duty to exercise or withhold
the exercise of any of the rights, powers, privileges and options expressly or implicitly granted to the Agent in this Agreement, and shall not be liable for any failure to do so or any delay in doing so. This power of attorney is conferred on the
Agent solely to protect, preserve, maintain and realize upon its security interest in the Collateral. The Agent shall not be responsible for any decline in the value of the Collateral and shall not be required to take any steps to preserve rights
against prior parties or to protect, preserve or maintain any Lien given to secure the Collateral. 
 Section 5.2 Setoff.
In addition to and not in limitation of any rights of any Lenders under applicable law, the Agent and each Lender shall, upon the occurrence and continuance of an Event of Default, without notice or demand of any kind, have the right to appropriate
and apply to the payment of the Indebtedness owing to it (whether or not then due) any and all balances, credits, deposits, accounts or moneys of Debtors then or thereafter on deposit with such Lenders; provided, however, that any such amount so
applied by any Lender on any of the Indebtedness owing to it shall be subject to the provisions of the Credit Agreement. 

Section 5.3 Assignment by the Agent. The Agent may at any time assign or otherwise transfer all or any portion of its
rights and obligations as Agent under this Agreement and the other Loan Documents (including, without limitation, the Indebtedness) to any other Person, to the extent permitted by, and upon the conditions contained in, the Credit Agreement and such
Person shall thereupon become vested with all the benefits and obligations thereof granted to the Agent herein or otherwise. 

  
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 Section 5.4 Performance by the Agent. If any Debtor shall fail to perform any
covenant or agreement contained in this Agreement, the Agent may (but shall not be obligated to) perform or attempt to perform such covenant or agreement on behalf of the Debtors, in which case Agent shall exercise good faith and make diligent
efforts to give Debtors prompt prior written notice of such performance or attempted performance. In such event, the Debtors shall, at the request of the Agent, promptly pay any reasonable amount expended by the Agent in connection with such
performance or attempted performance to the Agent, together with interest thereon at the interest rate set forth in the Credit Agreement, from and including the date of such expenditure to but excluding the date such expenditure is paid in full.
Notwithstanding the foregoing, it is expressly agreed that the Agent shall not have any liability or responsibility for the performance (or non-performance) of any obligation of the Debtors under this Agreement. 

Section 5.5 Certain Costs and Expenses. The Debtors shall pay or reimburse the Agent within five (5) Business Days
after demand for all reasonable costs and expenses (including reasonable attorney’s and paralegal fees) incurred by it in connection with the enforcement, attempted enforcement, or preservation of any rights or remedies under this Agreement or
any other Loan Document during the existence of an Event of Default or after acceleration of any of the Indebtedness (including in connection with any “workout” or restructuring regarding the Indebtedness, and including in any insolvency
proceeding or appellate proceeding). The agreements in this Section 5.5 shall survive the payment in full of the Indebtedness. Notwithstanding the foregoing, the reimbursement of any fees and expenses incurred by the Lenders shall
be governed by the terms and conditions of the Credit Agreement. 
 Section 5.6 Indemnification. The Debtors shall
indemnify, defend and hold the Agent, and each Lender and each of their respective officers, directors, employees, counsel, agents and attorneys-in-fact (each, an “Indemnified Person”) harmless from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, charges, expenses and disbursements (including reasonable attorneys’ and paralegals’ fees) of any kind or nature whatsoever which may at any time
(including at any time following repayment of the Indebtedness and the termination, resignation or replacement of the Agent or replacement of any Lender) be imposed on, incurred by or asserted against any such Indemnified Person in any way relating
to or arising out of this Agreement or any other Loan Document or any document relating to or arising out of or referred to in this Agreement or any other Loan Document, or the transactions contemplated hereby, or any action taken or omitted by any
such Indemnified Person under or in connection with any of the foregoing, including with respect to any investigation, litigation or proceeding (including any bankruptcy proceeding or appellate proceeding) related to or arising out of this Agreement
or the Indebtedness or the use of the proceeds thereof, whether or not any Indemnified Person is a party thereto (all the foregoing, collectively, the “Indemnified Liabilities”); provided, that the Debtors shall have
no obligation under this Section 5.6 to any Indemnified Person with respect to Indemnified Liabilities to the extent resulting from the gross negligence or willful misconduct of such Indemnified Person. The agreements in this
Section 5.6 shall survive payment of all other Indebtedness. 
 ARTICLE 6 

Default 

Section 6.1 Rights and Remedies. If an Event of Default shall have occurred and be continuing, the Agent shall have the
following rights and remedies subject to the direction and/or consent of the Lenders as required under the Credit Agreement: 
  

	 	(a)	The Agent may exercise any of the rights and remedies set forth in this Agreement (including, without limitation, Article 5 hereof), in the Credit Agreement, or in any other Loan Document, or by
applicable law. 

  

	 	(b)	 In addition to all other rights and remedies granted to the Agent in this Agreement, the Credit Agreement or by applicable law, the Agent shall have
all of the rights and remedies of a secured party under the UCC (whether or not the UCC applies to the affected Collateral) and the Agent may also, without previous demand or notice except as specified below or in the Credit Agreement, sell the
Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker’s board or at any of the Agent’s offices or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the
Agent may, in its reasonable discretion, 

  
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deem commercially reasonable or otherwise as may be permitted by law. Without limiting the generality of the foregoing, the Agent may (i) without demand or notice to the Debtors (except as
required under the Credit Agreement or applicable law), collect, receive or take possession of the Collateral or any part thereof, and for that purpose the Agent (and/or its Agents, servicers or other independent contractors) may enter upon any
premises on which the Collateral is located and remove the Collateral therefrom or render it inoperable, and/or (ii) sell, lease or otherwise dispose of the Collateral, or any part thereof, in one or more parcels at public or private sale or
sales, at the Agent’s offices or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the Agent may, in its reasonable discretion, deem commercially reasonable or otherwise as may be permitted by law. The Agent
and, subject to the terms of the Credit Agreement, each of the Lenders shall have the right at any public sale or sales, and, to the extent permitted by applicable law, at any private sale or sales, to bid (which bid may be, in whole or in part, in
the form of cancellation of indebtedness) and become a purchaser of the Collateral or any part thereof free of any right of redemption on the part of the Debtors, which right of redemption is hereby expressly waived and released by the Debtors to
the extent permitted by applicable law. The Agent may require the Debtors to assemble the Collateral and make it available to the Agent at any place designated by the Agent to allow the Agent to take possession or dispose of such Collateral. The
Debtors agree that the Agent shall not be obligated to give more than five (5) days prior written notice of the time and place of any public sale or of the time after which any private sale may take place and that such notice shall constitute
reasonable notice of such matters. The foregoing shall not require notice if none is required by applicable law. The Agent shall not be obligated to make any sale of Collateral if, in the exercise of its reasonable discretion, it shall determine not
to do so, regardless of the fact that notice of sale of Collateral may have been given. The Agent may, without notice or publication (except as required by applicable law), adjourn any public or private sale or cause the same to be adjourned from
time to time by announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the same was so adjourned. The Debtors shall be liable for all reasonable expenses of retaking,
holding, preparing for sale or the like, and all reasonable attorneys’ fees, legal expenses and other costs and expenses incurred by the Agent in connection with the collection of the Indebtedness and the enforcement of the Agent’s rights
under this Agreement and the Credit Agreement. The Debtors shall, to the extent permitted by applicable law, remain liable for any deficiency if the proceeds of any such sale or other disposition of the Collateral (conducted in conformity with this
clause (ii) and applicable law) applied to the Indebtedness are insufficient to pay the Indebtedness in full. The Agent shall apply the proceeds from the sale of the Collateral hereunder against the Indebtedness in such order and manner as
provided in the Credit Agreement. 

  

	 	(c)	The Agent may cause any or all of the Collateral held by it to be transferred into the name of the Agent or the name or names of the Agent’s nominee or nominees. 

 

	 	(d)	The Agent may exercise any and all rights and remedies of the Debtors under or in respect of the Collateral, including, without limitation, any and all rights of the Debtors to demand or otherwise require payment of any
amount under, or performance of any provision of any of the Collateral and any and all voting rights and corporate powers in respect of the Collateral. 

  

	 	(e)	On any sale of the Collateral, the Agent is hereby authorized to comply with any limitation or restriction with which compliance is necessary (based on a reasoned opinion of the Agent’s counsel) in order to avoid
any violation of applicable law or in order to obtain any required approval of the purchaser or purchasers by any applicable Governmental Authority. 

  

	 	(f)	The Agent may direct account debtors and any other parties liable for any payment under any of the Collateral to make payment of any and all monies due and to become due thereunder directly to the Agent or as the Agent
shall direct. 

  

	 	(g)	 In the event of any sale, assignment or other disposition of the Intellectual Property Collateral, the goodwill of the business connected with and
symbolized by any Collateral subject to such disposition shall be included, and the Debtors shall supply to the Agent or its designee the 

  
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Debtors’ know-how and expertise related to the Intellectual Property Collateral subject to such disposition, and the Debtors’ notebooks, studies, reports, records, documents and things
embodying the same or relating to the inventions, processes or ideas covered by and to the manufacture of any products under or in connection with the Intellectual Property Collateral subject to such disposition. 

 

	 	(h)	For purposes of enabling the Agent to exercise its rights and remedies under this Section 6.1 and enabling the Agent and its successors and assigns to enjoy the full benefits of the Collateral, the
Debtors hereby grant to the Agent an irrevocable, nonexclusive license (exercisable without payment of royalty or other compensation to the Debtors) to use, assign, license or sublicense any of the Intellectual Property Collateral, Computer Records
or Software (including in such license reasonable access to all media in which any of the licensed items may be recorded or stored and all computer programs used for the completion or printout thereof), exercisable upon the occurrence and during the
continuance of a Default or an Event of Default (and thereafter if Agent succeeds to any of the Collateral pursuant to an enforcement proceeding or voluntary arrangement with Debtors), except as may be prohibited by any licensing agreement relating
to such Computer Records or Software. This license shall also inure to the benefit of all successors, assigns, transferees of and purchasers from the Agent. 

Section 6.2 Private Sales. 
  

	 	(a)	In view of the fact that applicable securities laws may impose certain restrictions on the method by which a sale of the Pledged Shares may be effected after an Event of Default, Debtors agree that upon the occurrence
and during the continuance of an Event of Default, the Agent may from time to time attempt to sell all or any part of the Pledged Shares by a private sale in the nature of a private placement, restricting the bidders and prospective purchasers to
those who will represent and agree that they are “accredited investors” within the meaning of Regulation D promulgated pursuant to the Securities Act of 1933, as amended (the “Securities Act”), and are purchasing
for investment only and not for distribution. In so doing, the Agent may solicit offers for the Pledged Shares, or any part thereof, from a limited number of investors who might be interested in purchasing the Pledged Shares. Without limiting the
methods or manner of disposition which could be determined to be commercially reasonable, if the Agent hires a firm of regional or national reputation that is engaged in the business of rendering investment banking and brokerage services to solicit
such offers and facilitate the sale of the Pledged Shares, then the Agent’s acceptance of the highest offer (including its own offer, or the offer of any of the Lenders at any such sale) obtained through such efforts of such firm shall be
deemed to be a commercially reasonable method of disposition of such Pledged Shares. The Agent shall not be under any obligation to delay a sale of any of the Pledged Shares for the period of time necessary to permit the issuer of such securities to
register such securities under the laws of any jurisdiction outside the United States, under the Securities Act or under any applicable state securities laws, even if such issuer would agree to do so. 

 

	 	(b)	The Debtors further agree to do or cause to be done, to the extent that the Debtors may do so under applicable law, all such other reasonable acts and things as may be necessary to make such sales or resales of any
portion or all of the Collateral valid and binding and in compliance with any and all applicable laws, regulations, orders, writs, injunctions, decrees or awards of any and all courts, arbitrators or governmental instrumentalities, domestic or
foreign, having jurisdiction over any such sale or sales, all at the Debtors’ expense. 

 Section 6.3
Establishment of Cash Collateral Account; and Lock Box. 
  

	 	(a)	 Notwithstanding anything to the contrary in this Agreement, in the case of any Event of Default under Section 9.1(i) of the Credit
Agreement, immediately following the occurrence thereof, and in the case of any other Event of Default, (w) upon the termination of any commitments to extend credit under the Credit Agreement, (x) upon the acceleration of any Indebtedness
arising under the Credit Agreement, (y) at the option of Agent or (z) upon the request of the Majority Lenders after 

  
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the commencement of any remedies hereunder, there shall be established by each Debtor with the Agent, for the benefit of the Lenders in the name of the Agent, a segregated non-interest bearing
cash collateral account (the “Cash Collateral Account”) bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Agent and the Lenders; provided, however, that the Cash
Collateral Account may be an interest-bearing account with a commercial bank (including Comerica or any other Lender which is a commercial bank) if determined by the Agent, in its reasonable discretion, to be practicable, invested by the Agent in
its sole discretion, but without any liability for losses or the failure to achieve any particular rate of return. Furthermore, in connection with the establishment of a Cash Collateral Account under the first sentence of this
Section 6.3 (and on the terms and within the time periods provided thereunder), (i) each Debtor agrees to establish and maintain (and the Agent, acting at the request of the Lenders, may establish and maintain) at such
Debtor’s sole expense a United States Post Office lock box (the “Lock Box”), to which the Agent shall have exclusive access and control. Each Debtor expressly authorizes the Agent, from time to time, to remove the
contents from the Lock Box for disposition in accordance with this Agreement; and (ii) each Debtor shall notify all account debtors that all payments made to such Debtor (a) other than by electronic funds transfer, shall be remitted, for
the credit of such Debtor, to the Lock Box, and such Debtor shall include a like statement on all invoices, and (b) by electronic funds transfer, shall be remitted to the Cash Collateral Account, and such Debtor shall include a like statement
on all invoices. Each Debtor agrees to execute all documents and authorizations as reasonably required by the Agent to establish and maintain the Lock Box and the Cash Collateral Account. It is acknowledged by the parties hereto that any lockbox
presently maintained or subsequently established by a Debtor with the Agent may be used, subject to the terms hereof, to satisfy the requirements set forth in the first sentence of this Section 6.3. 

 

	 	(b)	Notwithstanding anything to the contrary in this Agreement, in the case of any Event of Default under Section 9.1(i) of the Credit Agreement, immediately following the occurrence thereof, and in the
case of any other Event of Default, (w) upon the termination of any commitments to extend credit under the Credit Agreement, (x) upon the acceleration of any Indebtedness arising under the Credit Agreement, (y) at the option of Agent
or (z) upon the request of the Majority Lenders after the commencement of any remedies hereunder, any and all cash (including amounts received by electronic funds transfer), checks, drafts and other instruments for the payment of money received
by each Debtor at any time, in full or partial payment of any of the Collateral consisting of Accounts or Inventory, shall forthwith upon receipt be transmitted and delivered to the Agent, properly endorsed, where required, so that such items may be
collected by the Agent. Any such amounts and other items received by a Debtor shall not be commingled with any other of such Debtor’s funds or property, but will be held separate and apart from such Debtor’s own funds or property, and upon
express trust for the benefit of the Agent until delivery is made to the Agent. All items or amounts which are remitted to a Lock Box or otherwise delivered by or for the benefit of a Debtor to the Agent on account of partial or full payment of, or
any other amount payable with respect to, any of the Collateral shall, at the Agent’s option, be applied to any of the Indebtedness, whether then due or not, in the order and manner set forth in the Credit Agreement. No Debtor shall have any
right whatsoever to withdraw any funds so deposited. Each Debtor further grants to the Agent a first security interest in and Lien on all funds on deposit in such account. Each Debtor hereby irrevocably authorizes and directs the Agent to endorse
all items received for deposit to the Cash Collateral Account, notwithstanding the inclusion on any such item of a restrictive notation, e.g., “paid in full”, “balance of account”, or other restriction. 

Section 6.4 Default Under Credit Agreement. Subject to any applicable notice and cure provisions contained in the Credit
Agreement, the occurrence of any Event of Default (as defined in the Credit Agreement), including without limit a breach of any of the provisions of this Agreement, shall be deemed to be an Event of Default under this Agreement. This
Section 6.4 shall not limit the Events of Default set forth in the Credit Agreement. 

  
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 ARTICLE 7 

Miscellaneous 

Section 7.1 No Waiver; Cumulative Remedies. No failure on the part of the Agent to exercise and no delay in exercising, and
no course of dealing with respect to, any right, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege under this Agreement preclude any other or further
exercise thereof or the exercise of any other right, power, or privilege. The rights and remedies provided for in this Agreement are cumulative and not exclusive of any rights and remedies provided by law. 

Section 7.2 Successors and Assigns. Subject to the terms and conditions of the Credit Agreement, this Agreement shall be
binding upon and inure to the benefit of the Debtors and the Agent and their respective heirs, successors and assigns, except that the Debtors may not assign any of their rights or obligations under this Agreement without the prior written consent
of the Agent. 
 Section 7.3 AMENDMENT; ENTIRE AGREEMENT. THIS AGREEMENT AND THE CREDIT AGREEMENT REFERRED TO HEREIN
EMBODY THE FINAL, ENTIRE AGREEMENT AMONG THE PARTIES HERETO AND SUPERSEDES ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF AND MAY NOT BE CONTRADICTED OR
VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES HERETO. The provisions of this Agreement may be amended or waived only by an
instrument in writing signed by the parties hereto. 
 Section 7.4 Notices. All notices, requests, consents, approvals,
waivers and other communications hereunder shall be in writing (including, by facsimile transmission) and mailed, faxed or delivered to the address or facsimile number specified for notices on signature pages hereto; or, as directed to the Debtors
or the Agent, to such other address or number as shall be designated by such party in a written notice to the other. All such notices, requests and communications shall, when sent by overnight delivery, or faxed, be effective when delivered for
overnight (next business day) delivery, or transmitted in legible form by facsimile machine (with electronic confirmation of receipt), respectively, or if mailed, upon the third Business Day after the date deposited into the U.S. mail, or if
otherwise delivered, upon delivery; except that notices to the Agent shall not be effective until actually received by the Agent. 

Section 7.5 GOVERNING LAW; SUBMISSION TO JURISDICTION; SERVICE OF PROCESS. 

 

	 	(a)	THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF CALIFORNIA, WITHOUT REGARD FOR PRINCIPLES OF CONFLICTS OF LAWS. 

 

	 	(b)	ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF CALIFORNIA OR OF THE UNITED STATES FOR THE NORTHERN DISTRICT OF CALIFORNIA, AND BY
EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF THE DEBTORS AND THE AGENT CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH OF THE DEBTORS AND THE AGENT IRREVOCABLY WAIVES ANY OBJECTION,
INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AGREEMENT OR ANY LOAN
DOCUMENT. 

 Section 7.6 Headings. The headings, captions, and arrangements used in this Agreement are for
convenience only and shall not affect the interpretation of this Agreement. 

  
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 Section 7.7 Survival of Representations and Warranties. All representations
and warranties made in this Agreement or in any certificate delivered pursuant hereto shall survive the execution and delivery of this Agreement, and no investigation by the Agent shall affect the representations and warranties or the right of the
Agent or the Lenders to rely upon them. 
 Section 7.8 Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

Section 7.9 Waiver of Bond. In the event the Agent seeks to take possession of any or all of the Collateral by judicial
process, the Debtors hereby irrevocably waive any bonds and any surety or security relating thereto that may be required by applicable law as an incident to such possession, and waives any demand for possession prior to the commencement of any such
suit or action. 
 Section 7.10 Severability. Any provision of this Agreement which is determined by a court of competent
jurisdiction to be prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions of this Agreement, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

Section 7.11 Construction. Each Debtor and the Agent acknowledge that each of them has had the benefit of legal counsel of
its own choice and has been afforded an opportunity to review this Agreement with its legal counsel and that this Agreement shall be construed as if jointly drafted by the Debtors and the Agent. 

Section 7.12 Termination; Reinstatement. If all of the Indebtedness (other than contingent liabilities pursuant to any
indemnity, including without limitation Section 5.5 and Section 5.6 hereof, for claims which have not been asserted, or which have not yet accrued) shall have been paid and performed in full (in cash) and all
commitments to extend credit or other credit accommodations under the Credit Agreement have been terminated, the Agent shall, upon the written request of the Debtors, execute and deliver to the Debtors a proper instrument or instruments
acknowledging the release and termination of the security interests created by this Agreement, and shall duly assign and deliver to the Debtors (without recourse and without any representation or warranty) such of the Collateral as may be in the
possession of the Agent and has not previously been sold or otherwise applied pursuant to this Agreement; provided however that, the effectiveness of this Agreement shall continue or be reinstated, as the case may be, in the event: (a) that any
payment received or credit given by the Agent or the Lenders, or any of them, is returned, disgorged, rescinded or required to be recontributed to any party as an avoidable preference, impermissible setoff, fraudulent conveyance, restoration of
capital or otherwise under any applicable state, federal, or local law of any jurisdiction, including laws pertaining to bankruptcy or insolvency, and this Agreement shall thereafter be enforceable against the Debtors as if such returned, disgorged,
recontributed or rescinded payment or credit has not been received or given by the Agent or the Lenders, and whether or not the Agent or any Lender relied upon such payment or credit or changed its position as a consequence thereof or (b) that
any liability is imposed, or sought to be imposed against the Agent or the Lenders, or any of them, relating to the environmental condition of any of property mortgaged or pledged to the Agent on behalf of the Lenders by any Debtor, the Borrower or
other party as collateral (in whole or part) for any indebtedness or obligation evidenced or secured by this Agreement, whether such condition is known or unknown, now exists or subsequently arises (excluding only conditions which arise after
acquisition by the Agent or any Lender of any such property, in lieu of foreclosure or otherwise, due to the wrongful act or omission of the Agent or such Lenders, or any person other than the Borrower, the Subsidiaries, or any Affiliates of the
Borrower or the Subsidiaries), and this Agreement shall thereafter be enforceable against the Debtors to the extent of all such liabilities, costs and expenses (including reasonable attorneys’ fees) incurred by the Agent or Lenders as the
direct or indirect result of any such environmental condition but only for which the Borrower is obligated to the Agent and the Lenders pursuant to the Credit Agreement. For purposes of this Agreement “environmental condition” includes,
without limitation, conditions existing with respect to the surface or ground water, drinking water supply, land surface or subsurface strata and the ambient air. 

Section 7.13 Release of Collateral. The Agent shall, upon the written request of the Debtors, execute and deliver to the
Debtors a proper instrument or instruments acknowledging the release of the security interest and Liens established hereby on any Collateral (other than the Pledged Shares): (a) if the sale or other disposition of

  
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such Collateral is permitted under the terms of the Credit Agreement and, at the time of such proposed release, both before and after giving effect thereto, no Default or Event of Default has
occurred and is continuing, (b) if the sale or other disposition of such Collateral is not permitted under the terms of the Credit Agreement, provided that the requisite Lenders under the Credit Agreement shall have consented to such sale or
disposition in accordance with the terms thereof, or (c) if such release has been approved by the requisite Lenders in accordance with Section 13.9 of the Credit Agreement. 

Section 7.14 WAIVER OF JURY TRIAL. EACH DEBTOR AND THE AGENT 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 DEBTOR AND THE AGENT, AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS 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 DEBTORS AND THE AGENT. 

 

	 	(a)	In the event that the jury trial waiver contained in this Section 7.14 is not enforceable, the parties elect to proceed as follows: 

 

	 	(b)	With the exception of the items specified in clause (c), below, any controversy, dispute or claim (each, a “Claim”) between the parties arising out of or relating to this Agreement or any other Loan Document
will be resolved by a reference proceeding in California in accordance with the provisions of Section 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 Agreement, venue for the reference proceeding will be in the state or federal court in the county or
district where venue is otherwise appropriate under applicable law (the “Court”). 

  

	 	(c)	The matters that shall not be subject to a reference are the following: (i) 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 Section 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 Section. 

  

	 	(d)	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). 

 

	 	(e)	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
(a) set the matter for a status and trial-setting conference within fifteen (15) days after the date of selection of the referee, (b) if practicable, try all issues of law or fact within one hundred twenty (120) days after the
date of the conference and (c) report a statement of decision within twenty (20) days after the matter has been submitted for decision. 

  

	 	(f)	 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 

  
 24 

	 	
provide requested discovery for any reason whatsoever. Unless otherwise ordered, 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. 

  

	 	(g)	Except as expressly set forth in this Section, 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. 

 

	 	(h)	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
trial, 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. 

  

	 	(i)	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. 

 THE PARTIES RECOGNIZE AND AGREE THAT ALL DISPUTES
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 THEIR 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 WHICH ARISES OUT OF OR IS RELATED TO THE AGREEMENT. 

Section 7.15 Consistent Application. The rights and duties created by this Agreement shall, in all cases, be interpreted
consistently with, and shall be in addition to (and not in lieu of), the rights and duties created by the Credit Agreement or the other Loan Documents. In the event that any provision of this Agreement shall be inconsistent with any provision of the
Credit Agreement, such provision of the Credit Agreement shall govern. 
 Section 7.16 Continuing Lien. The security
interest granted under this Security Agreement shall be a continuing security interest in every respect (whether or not the outstanding balance of the Indebtedness is from time to time temporarily reduced to zero) and the Agent’s security
interest in the Collateral as granted herein shall continue in full force and effect for the entire duration that the Credit Agreement remains in effect and until all of the Indebtedness are repaid and discharged in full, and no commitment (whether
optional or obligatory) to extend any credit under the Credit Agreement remain outstanding. 

  
 25 

 Section 7.17 Amendment and Restatement. This Agreement amends, restates and
replaces in its entirety the security agreement included in the Prior Credit Agreement (the “Prior Security Agreement”), and nothing contained herein shall be deemed to alter or impair the liens and security interest established by the
Prior Security Agreement, which liens and security interest remain in full force and effect with all priorities unchanged. 
 (Remainder
of page intentionally left blank.) 

  
 26 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first written above. 
  

			
	DEBTORS:
	
	INOGEN, INC.
		
	By:	 	 /s/ Alison Bauerlein

		
	Name:	 	 Alison Bauerlein

		
	Title	 	 CFO

	Address for Notices:
	326 Bollay Dr.
	Goleta, Ca 93117
	Fax No.:
	Telephone No.:
	Attention:
	
	AGENT:
	
	COMERICA BANK, as Agent
		
	By:	 	 /s/ Evan Huckabay

		
	Name:	 	 Evan Huckabay

		
	Title	 	 Vice President

	Address for Notices:
	411 West Lafayette
	7th Floor
	MC 3289
	Detroit, Michigan 48226
	Telephone No.: 313/222/9434
	Attention:

  
 Signature Page to
Security Agreement 
 (1219142) 

 EXHIBIT A 

TO 
 SECURITY AGREEMENT

 FORM OF AMENDMENT 

This Amendment, dated
                    , 20    , is delivered pursuant to Section 4.8[(b)/(c)] of the Security Agreement referred
to below. The undersigned hereby agrees that this Amendment may be attached to the Security Agreement dated as of October 12, 2012, between the undersigned and Comerica Bank, as the Agent for the benefit of the Lenders referred to therein (the
“Security Agreement”), and (a) [that the intellectual property listed on Schedule A]/[that the shares of stock, membership interests, partnership units, notes or other instruments listed on Schedule
A] annexed hereto shall be and become part of the Collateral referred to in the Security Agreement and shall secure payment and performance of all Indebtedness as provided in the Security Agreement and (b) that Schedule A
shall be deemed to amend [Schedule 1.2/Schedule 1.1] by supplementing the information provided on such Schedule with the information set forth on Schedule A. 

Capitalized terms used herein but not defined herein shall have the meanings therefor provided in the Security Agreement. 

 

			
	INOGEN, INC.
		
	By:	 	  

	Name:	 	  

	Title	 	  

	
	COMERICA BANK, as Agent
		
	By:	 	  

	Name:	 	  

	Title	 	  

 EXHIBIT B 

JOINDER AGREEMENT 

(Security Agreement) 

THIS JOINDER AGREEMENT (the “Joinder Agreement”) is dated as of
                    ,          by
                                        , a
                                        
(“New Debtor”). 
 WHEREAS, pursuant to Section 7.13 of that certain Amended and Restated
Revolving Credit and Term Loan Agreement dated as of October 12, 2012 (as amended, restated or otherwise modified from time to time, the “Credit Agreement”) by and among Inogen, Inc. (the
“Borrower”), the financial institutions from time to time signatory thereto (the “Lenders”) and Comerica Bank, as administrative agent for the Lenders (in such capacity,
“Agent”), the New Debtor is required to execute and deliver a joinder agreement to the Security Agreement. 

WHEREAS, in order to comply with the Credit Agreement, New Debtor executes and delivers this Joinder Agreement in accordance therewith.

 NOW THEREFORE, as a further inducement to Lenders to continue to provide credit accommodations to the Borrower, New Debtor hereby
covenants and agrees as follows: 
 A. All capitalized terms used herein shall have the meanings assigned to them in the Credit Agreement
unless expressly defined to the contrary. 
 B. New Debtor hereby enters into this Joinder Agreement in order to comply with
Section 7.13 of the Credit Agreement and does so in consideration of the Advances made or to be made from time to time under the Credit Agreement and the other Loan Documents. 

C. The Schedules attached to this Joinder Agreement are intended to supplement the Schedules to the Security Agreement with the respective
information applicable to New Debtor. 
 D. New Debtor shall be considered, and deemed to be, for all purposes of the Credit Agreement, the
Security Agreement and the other Loan Documents, a Debtor under the Security Agreement as fully as though New Debtor had executed and delivered the Security Agreement at the time originally executed and delivered under the Credit Agreement and
hereby ratifies and confirms its obligations under the Security Agreement, all in accordance with the terms thereof and shall be deemed to have made each representation and warranty set forth in the Security Agreement. 

E. No Default or Event of Default (each such term being defined in the Credit Agreement) has occurred and is continuing under the Credit
Agreement. 
 F. This Joinder Agreement shall be governed by the laws of the State of California and shall be binding upon New Debtor and
its successors and assigns. 

 IN WITNESS WHEREOF, the undersigned New Debtor has executed and delivered this Joinder Agreement
as of                     ,         . 

 

			
	[NEW DEBTOR]
		
	By:	 	  

		
	Its:	 	  

  

			
	Accepted:
	
	COMERICA BANK, as Agent
		
	By:	 	  

		
	Its:	 	  

 EXHIBIT C 

FORM OF COLLATERAL COMPLIANCE CERTIFICATE 
  

	To:	Comerica Bank as administrative agent (the “Agent”) and the Lenders 

  

	Re:	Security Agreement dated as of October 12, 2012 by and among Inogen, Inc. and such other entities which from time to time become parties thereto (each a “Debtor” and collectively, the
“Debtors”) and Agent, (as the same may be amended, restated or otherwise modified from time to time, the “Security Agreement”; capitalized terms not otherwise defined herein shall have the meanings set
forth in the Security Agreement). 

 Reference is made to Section 4.6 of the Security Agreement. The
undersigned hereby represents and warrants to Agent and the Lenders, in consideration of the loans extended to Borrower, as follows: 
 1.
Locations. No Debtor has any leased or owned location, or any Collateral located with a warehousemen or bailee, which has not been previously disclosed in writing to Agent, or is not set forth on Schedule 1 attached hereto,
which sets forth the information required by Section 3.3(a)(ii) and Section 3.3(a)(iii) of the Security Agreement, as applicable, for all previously undisclosed locations. 

2. Deposit Accounts. No Debtor has any Deposit Accounts, cash collateral accounts or investment accounts (other than with Agent) which have not
been previously disclosed in writing to Agent, or are not set forth on Schedule 2 attached hereto, which sets forth the information required by Section 3.3(b) of the Security Agreement as to each previously
undisclosed account. 
 3. Intellectual Property. No Debtor has any registered Patents, Patent Licenses, registered Trademarks, Trademark
Licenses, registered Copyrights and Copyright Licenses which have not been previously disclosed in writing to Agent, or are not set forth on Schedule 3 attached hereto, which sets forth the information required by
Section 3.3(d) of the Security Agreement for such previously undisclosed Intellectual Property Collateral. 
 4. Pledged
Shares. None of the Debtors, singly or collectively, hold any Pledged Shares which have not been previously disclosed to Agent in writing except as set forth on Schedule 4 attached hereto, which sets forth the information
required by Section 3.4(c) of the Security Agreement for such previously undisclosed Pledged Shares. 
 5. Promissory Notes;
Tangible Chattel Paper. None of the Debtors, singly or collectively, have promissory notes or tangible Chattel Paper for which the principal amount or obligations evidenced thereunder are, in aggregate, in excess of
$         which promissory notes and/or Chattel Paper have not been previously disclosed to Agent in writing, assigned and delivered to Agent in accordance with Section 4.1(a) of the
Security Agreement, except as set forth on Schedule 5 attached hereto. 
 6. Electronic Chattel Paper. None of the Debtors,
singly or collectively, have electronic Chattel Paper or any “transferable record” evidencing obligations, in the aggregate, in excess of $        , which have not previously been disclosed to Agent
in writing, and over which Agent has not been granted control in accordance with Section 4.1(b) of the Security Agreement, except as set forth on Schedule 6 attached hereto. 

7. Letters of Credit. None of the Debtors, singly or collectively, are beneficiaries under letters of credit, with an aggregate face amount in
excess of $         , which have not previously been disclosed to Agent in writing, and over which Agent has not been granted a Lien in compliance with the terms of Section 4.1(c) of the
Security Agreement, except as set forth on Schedule 7 attached hereto. 
 8. Commercial Tort Claims. None of the Debtors, singly
or collectively, have any commercial tort claims which, in the aggregate, are reasonably estimated to have a value in excess of $        , which claims have not previously been disclosed to Agent in writing
and over which Agent has not been granted a Lien in compliance with Section 4.1(d) of the Security Agreement, except as set forth on Schedule 8 attached hereto. 

 9. Vehicles, Aircraft and Vessels. None of the Debtors, singly or collectively, own Vehicles (other
than Vehicles used by executive employees), aircraft or vessels with a fair market value in excess of $         which have not been previously disclosed in writing to Agent, except as set forth on
Schedule 9 attached hereto. 
 10. Life Insurance. None of the Debtors are beneficiaries of any key man life insurance policies
which have not been previously disclosed in writing to Agent, except as set forth on Schedule 10 attached hereto. 
 IN
WITNESS WHEREOF, the undersigned have executed this Collateral Compliance Report, as of this      day of
                    ,         . 

 

			
	INOGEN, INC.
		
	By:	 	  

		
	Its:	 	  

 CONFIDENTIAL 

Schedules to Security Agreement 
  

	1.1	Intellectual Property – Patent & Trademark Listings 

 INOGEN, INC. 

INTELLECTUAL PROPERTY STATUS REPORT 
  

															
	 TITLE/DESCRIPTION
	 	 DOCKET NO./

COUNTRY
	 	 FILING DATE

SERIAL NO.
	 	 PRIORITY

DATA
	 	 PUBLICATION

DATE/NUMBER
	 	 PATENT NO.

ISSUE DATE
	 	 SUMMARY
	 	 STATUS

								
	PORTABLE GAS FRACTIONALIZATION SYSTEM General System, PSA Cycle, Scroll Compressor; Low Weight and Noise Level of Concentrator)	 	 INOGN.003A
  

USA
	 	 Oct. 7, 2003
  

10/680,997
	 	N/A	 	 Apr. 7, 2005
  

2005/0072298 A1
	 	 7,066,985
  

June 27, 2006
	 	non reciprocating compressor claims and <10lb, 2hr, 45 dB	 	ISSUED
								
	PORTABLE GAS FRACTIONALIZATION SYSTEM (PWM Power Source)	 	 INOGN.003CP1
  

USA
	 	 Oct. 7, 2004
  

10/962,194
	 	Oct 7, 2003 (CIP of 003A)	 	 May 19, 2005
  

2005/0103341 A1
	 	 7,438,745
  

Oct. 21, 2008
	 	using pulse width modulation valve control to increase battery run time	 	ISSUED
								
	PORTABLE GAS FRACTIONALIZATION SYSTEM (PWM Power Source)	 	 INOGN.003CP1C1
  

USA
	 	 Oct. 21, 2008
  

12/255,553
	 	Oct 7, 2003 (Continuation of 003CP1)	 	N/A	 	 7,753,996
  

July 13, 2010
	 	using pulse width modulation compressor control to increase battery run time	 	ISSUED
								
	PORTABLE GAS FRACTIONALIZATION SYSTEM (Battery)	 	 INOGN.003CPDV1
  

USA
	 	 Oct. 30, 2007
  

11/928,183
	 	Oct 7, 2003 (Divisional of 003CP1)	 	 May 8, 2008
  

2008/0105258 A1
	 	 7,730,887
  

June 8, 2010
	 	design features and geometry of the G1 battery	 	ISSUED
								
	PORTABLE GAS FRACTIONALIZATION SYSTEM Combination of 003-006A)	 	 INOGN.003VCA
  

CANADA
	 	 Oct. 7, 2004
  

2540599
	 	Oct. 7, 2003	 	N/A	 	N/A	 		 	Pending
								
	PORTABLE GAS FRACTIONALIZATION SYSTEM (Integrated Manifold, Water Trap, Compressor Restraint; Column Filter)	 	 INOGN.004A
  

USA
	 	 Oct. 7, 2003
  

10/681,456
	 	N/A	 	 Apr. 7, 2005
  

2005/0072306 A1
	 	 7,135,059
  

Nov. 14, 2006
	 	various POC assembly structures including an integrated manifold, piloted valves, a compressor grommet mount and frits as zeolite filters	 	ISSUED
								
	PORTABLE GAS FRACTIONALIZATION SYSTEM (Free Piston Linear Compressor)	 	 INOGN.005CP1
  

USA
	 	 Feb. 21, 2007
  

11/677,532
	 	Oct. 7, 2003 (CIP of 005A)	 	N/A	 	 7,922,789
  

April 12, 2011
	 	utilization of a multiple compressor POC to expand product rate or save power	 	ISSUED

 CONFIDENTIAL 
  

															
	 TITLE/DESCRIPTION
	 	 DOCKET NO./

COUNTRY
	 	 FILING DATE

SERIAL NO.
	 	 PRIORITY

DATA
	 	 PUBLICATION

DATE/NUMBER
	 	 PATENT NO.

ISSUE DATE
	 	 SUMMARY
	 	 STATUS

								
	PORTABLE OXYGEN CONCENTRATOR	 	 INOGN.011DC2
  

USA
	 	 Mar. 23, 2005

29/226,193
	 	 Oct 7, 2003
  

(Cont. of 003A)
	 	N/A	 	 D528,212
  

Sept. 12, 2006
	 	ornamental design of a POC	 	ISSUED
								
	MOBILITY CART FOR TRANSPORTING CONCENTRATORS AND RELATED ACCESSORIES	 	 INOGN.012DC1
  

USA
	 	 May 4, 2004

29/204,892
	 	 Oct 7, 2003

(Cont. of 003A)
	 	Sept. 27, 2005	 	 D510,169
  

Sept. 27, 2005
	 	ornamental design of a cart for a POC including auxiliary battery charging capability	 	ISSUED
								
	SYSTEMS AND METHODS FOR DELIVERING THERAPEUTIC GAS TO PATIENTS	 	 INOGN.017A
  

USA
	 	 June 6, 2005

11/147,409
	 	 June 4, 2004

(017PR)
	 	 Dec. 15, 2005
  

2005/0274381 A1
	 	 7,841,343
  

Nov 30, 2010
	 	night mode breath detection and user selectable sensitivity levels	 	ISSUED
								
	SYSTEMS AND METHODS OF MONITORING AND CONTROLLING THE PERFORMANCE OF A GAS FRACTIONALIZATION APPARATUS	 	 INOGN.025A
  

USA
	 	 Feb. 23, 2006

11/362,443
	 	 Feb 23, 2005

60/655,509
 (Client Filed
PPA)
	 	 Oct. 19, 2006
  

2006/0230924
	 	 7,585,351
  

Sept. 8, 2009
	 	various implementations of pressure based compressor speed control in a POC	 	ISSUED
								
	SYSTEMS AND METHODS OF MONITORING AND CONTROLLING THE PERFORMANCE OF A GAS FRACTIONALIZATION APPARATUS	 	 INOGN.025A
  

USA
	 	 Feb. 23, 2006

11/362,443
	 	 Feb 23, 2005

60/655,509
 (Client Filed
PPA)
	 	 Oct. 19, 2006
  

2006/0230924
	 	 7,585,351
  

Sept. 8, 2009
	 	various implementations of pressure based compressor speed control in a POC	 	ISSUED
								
	GAS FRACTIONALIZATION APPARATUS WITH BUILT-IN ADMINISTRATIVE AND SELF- DIAGNOSTIC FUNCTIONS	 	 INOGN.027A
  

USA
	 	 May 23, 2006

11/438,897
	 	 May 23, 2005

60/684,144
 (Client Filed
PPA)
	 	N/A	 	 7,708,802
  

May 4, 2010
	 	self-diagnostic capability built into a POC user interface	 	ISSUED
								
	EXPANDABLE PRODUCT RATE PORTABLE GAS FRACTIONATION SYSTEM	 	 INOGN.038A
  

USA
	 	 Dec. 29, 2006

11/618,393
	 	 Dec 29, 2005

60/755,591
	 	N/A	 	 7,686,870
  

Mar 30, 2010
	 	utilization of a multiple compressor POC to expand product rate or save power	 	ISSUED
								
	ADSORBENT BED PRESSURE BALANCING FOR A GAS CONCENTRATOR	 	 INOGN.041
  

USA
	 	 Oct. 9, 2007

11/973,666
	 	Utility filed by RT Associates	 	 5/15/2008
  

US2008-0110338
	 	 7,857,894
  

Dec 28, 2010
	 	pressure balancing of zeolite beds to increase performance in a POC	 	
								
	ADSORBENT BED PRESSURE BALANCING FOR A GAS CONCENTRATOR	 	 INOGN.041
  

USA
	 	 12/927,550

Nov 17, 2010
	 	Priority of 7,857,894	 	 3/24/11
  

US2011-0067566
	 	 8,142,544
  

Mar 27, 2012
	 	pressure balancing of zeolite beds to increase performance in a POC	 	
								
	A GAS CONCENTRATOR WITH IMPROVED WATER REJECTION CAPABILITY	 	 INOGN.042
  

0020604-1
  

USA
	 	 Nov. 28, 2007

11/998,389
	 	Utility filed by RT Associates	 	 8/28/2008
  

US2008-0202337
	 	 7,780,768
  

Aug 24, 2010
	 	use of a selective membrane to remove water and nitrogen from the feed gas of a POC	 	Pending

  
 -2- 

 CONFIDENTIAL 
  

															
	 TITLE/DESCRIPTION
	 	 DOCKET NO./

COUNTRY
	 	 FILING DATE

SERIAL NO.
	 	 PRIORITY

DATA
	 	 PUBLICATION

DATE/NUMBER
	 	 PATENT NO.

ISSUE DATE
	 	 SUMMARY
	 	 STATUS

								
	A GAS CONCENTRATOR WITH IMPROVED WATER REJECTION CAPABILITY	 	 INOGN.042
  

0020604-1
  

USA
	 	 July 15, 2010
  

11/998,389
	 	Continuation of 7,780,768	 	 11/11/2010
  

US2010-0282084
	 	N/A	 	use of a selective membrane to remove water and nitrogen from the feed gas of a POC	 	Pending
								
	ADVANCED PORTABLE OXYGEN CONCENTRATOR	 	 0021001
  

USA
	 	 12/30/2010
  

12/930,256
	 	Utility filed by RT Associates	 	 07/05/2012
  

US2012-0167886
	 	N/A	 	G2 Portable Oxygen Concentrator	 	Pending
								
	ADVANCED PORTABLE OXYGEN CONCENTRATOR	 	 0021001-1
  

USA
	 	 04/29/2011
  

13/066,984
	 	Priority date of 0021001	 	 07/05/2012
  

US2012-0167883
	 	N/A	 	G2 Portable Oxygen Concentrator	 	Pending
								
	ADVANCED PORTABLE OXYGEN CONCENTRATOR	 	 0021001-2
  

USA
	 	 04/29//2011
  

13/066,987
	 	Priority date of 0021001	 	 07/05/2012
  

US2012-0167887
	 	N/A	 	G2 Portable Oxygen Concentrator	 	Pending
								
	ADVANCED PORTABLE OXYGEN CONCENTRATOR	 	 0021001-3
  

USA
	 	 04/29/2011
  

13/068,005
	 	Priority date of 0021001	 	 07/05/2012
  

US2012-0167888
	 	N/A	 	G2 Portable Oxygen Concentrator	 	Pending
								
	GAS CONCENTRATOR WITH REMOVABLE CARTRIDGE ADSORBENT BEDS	 	 021101
  

USA
	 	 4/22/11
  

13/066,716
	 	Priority date of 0021001	 	N/A	 	N/A	 	Gas Concentrator with removable cartridge adsorbent beds	 	Pending
								
	ADVANCED PORTABLE OXYGEN CONCENTRATOR	 	 0021002
  

USA
	 	 12/30/2010
  

29/372,717
	 	12/30/2010	 	N/A	 	N/A	 	G2 Design Patent	 	Pending
								
	PRESSURE SWING ADSORPTION PROCESS OPERATION AND OPTIMIZATION	 	Air Products	 	 07/10/2002
  

10/192,360
	 	N/A	 	N/A	 	 6605136
  

8/12/2003
	 	Pressure Swing Adsorption Process Operation and Optimization	 	Issued and assigned to Inogen from Air Products
								
	USE OF LITHIUM CONTAINING FAU IN AIR SEPARATION PROCESS INCLUDING WATER AND/OR CARBON DIOXIDE REMOVAL	 	Air Products	 	 1/13/2003
  

10/341,663
	 	N/A	 	N/A	 	 6824590
  

11/30/2004
	 	Use of Lithium Containing FAU in Air Sepatation Process Including Water and/Or Carbon Dioxide Removal	 	Issued and assigned to Inogen from Air Products
								
	WEIGHT-OPTIMIZED PORTABLE OXYGEN CONCENTRATOR	 	Air Products	 	 05/21/2004
  

11/851,858
	 	N/A	 	N/A	 	 7279029
  

10/09/2007
	 	Weight-Optimized Portable Oxygen Concentrator	 	Issued and assigned to Inogen from Air Products

  
 -3- 

 CONFIDENTIAL 
  

															
	 TITLE/DESCRIPTION
	 	 DOCKET NO./

COUNTRY
	 	 FILING DATE

SERIAL NO.
	 	 PRIORITY

DATA
	 	 PUBLICATION

DATE/NUMBER
	 	 PATENT NO.

ISSUE DATE
	 	 SUMMARY
	 	 STATUS

								
	WEIGHT-OPTIMIZED PORTABLE OXYGEN CONCENTRATOR	 	Air Products	 	 08/27/2007
  

11/845,190
	 	N/A	 	N/A	 	 7473299
  

01/06/2009
	 	Weight-Optimized Portable Oxygen Concentrator	 	Issued and assigned to Inogen from Air Products

  
 -4- 

 CONFIDENTIAL 
  

 INOGEN, INC. 

Trademark Status Report by Country 

Updated: September 28, 2012 

United States 
  

													
	 KMOB Ref.
	 	 Trademark
	 	 Status
	 	 Appl. No.

Filing Date
	 	 Reg No:

Reg. Date
	 	 Class/Goods
	 	 Notes

							
	INOGN.043T	 	INOGEN	 	Registered	 	 78/242953
  

4/28/2003
	 	 2919942
  

1/18/2005
	 	10: Oxygen concentrators for use by patients suffering from COPD and other lung disorders	 	Renewal due 1/18/15
							
	INOGN.044T	 	SATELLITE CONSERVER	 	 Registered
 (Will Expire)
	 	 78/300679
  

9/15/2003
	 	 3007851
  

10/18/2005
	 	10: Medical devices, namely, oxygen conserving devices for patients suffering from chronic obstructive pulmonary disease and other respiratory disorders	 	Inogen will not maintain registration.
							
	INOGN.045T	 	INOGEN ONE	 	Registered	 	 78/300886
  

9/16/2003
	 	 2921770
  

1/25/2005
	 	10: Oxygen concentrators for use by patients suffering from COPD and other respiratory disorders	 	Renewal due 1/25/15.
							
	INOGN.046T	 	

	 	Registered	 	 78/474022
  

8/26/2004
	 	 3220562
  

3/20/2007
	 	10: Home health care products, namely, respiratory devices and oxygen concentrators for use by patients suffering from COPD and other lung disorders	 	 Affidavit of Use due 3/20/13.
  

Renewal due 3/20/17.

							
	INOGN.047T	 	OXYGENATION	 	Registered (Supplemental Register)	 	 78/663739
  

7/5/2005
	 	 3228930
  

4/10/2007
	 	44: Providing medical information in the field of supplemental oxygen and oxygen therapy	 	 Affidavit of Use due 4/10/13.
  

Can file application for Principal Register

							
	INOGN.048T	 	OXYGEN.ANYTIME.ANYWHERE	 	Registered	 	 77/078308
  

1/8/2007
	 	 3432129
  

5/20/2008
	 	10: Medical devices and related accessories for use in providing supplemental oxygen for medical purposes	 	 Affidavit of Use due 5/20/14.
  

Renewal due 5/20/18.

							
	INOGN.055T	 	INTELLIGENT DELIVERY TECHNOLOGY	 	Registered (Supplemental Register)	 	 77/411829
  

3/3/2008
	 	 3681661
  

9/8/2009
	 	10: Oxygen monitoring sensors used in connection with oxygen concentrators for use by patients suffering from chronic obstructive pulmonary disease (COPD) and other respiratory disorders	 	 Affidavit of Use due 9/8/15
  

Can file application for Principal Register

  
 -5- 

 CONFIDENTIAL 
  

													
	 KMOB Ref.
	 	 Trademark
	 	 Status
	 	 Appl. No.

Filing Date
	 	 Reg No:

Reg. Date
	 	 Class/Goods
	 	 Notes

							
	INOGN.066T	 	INOGEN ONE G2	 	Registered	 	 85/235403
 2/7/2011
	 	 4022460
 9/6/2011
	 	10: Oxygen concentrators for medical applications	 	 Affidavit of Use due 9/6/17.
  

Renewal due 9/6/21.

							
	INOGN.073T	 	LIVE LIFE IN MOMENTS, NOT MINUTES	 	Allowed	 	 85/394507
 8/10/2011
	 		 	10: Medical devices and related accessories for use in providing supplemental oxygen for medical purposes	 	 SOU submitted on 9/18/12.
  

(Statement of Use or 1st Extension due 11/15/12.)

							
	INOGN.074T	 	RECLAIM YOUR INDEPENDENCE	 	Allowed	 	 85/394510
 8/10/2011
	 		 	10: Medical devices and related accessories for use in providing supplemental oxygen for medical purposes	 	 SOU Accepted on 9/25/12.
  

Registration certificate will issue in due course

							
	INOGN.075T	 	NEVER RUN OUT OF OXYGEN	 	Allowed	 	 85/394514
 8/10/2011
	 		 	10: Medical devices and related accessories for use in providing supplemental oxygen for medical purposes	 	 SOU submitted on 9/18/12. Office Action issued 9/25/2012.
  

(Statement of Use or 1st Extension due 11/15/12.)

							
	INOGN.078T	 	OXYGEN THERAPY ON YOUR TERMS	 	Allowed	 	85/457882	 		 	10: Medical devices and related accessories for use in providing supplemental oxygen for medical purposes; oxygen concentrators for medical applications	 	 SOU Accepted on 9/26/12.
  

Registration certificate will issue in due course

							
	INOGN.079T	 	INOGEN	 	Registered	 	 85/481592
 11/28/2011
	 	 4178909
 7/24/2012
	 	44: Providing medical information in the field of supplemental oxygen and oxygen therapy; advisory services relating to medical apparatus and instruments in the field of supplemental oxygen and oxygen therapy and distribution of
training materials in connection therewith; health services and home care services relating to oxygen therapy	 	 Affidavit of Use due 07/24/18.
  

Renewal due 7/24/22.

  
 -6- 

 CONFIDENTIAL 
  

 Foreign Countries 
  

															
	 KMOB Ref.
	  	 Country
	  	 Trademark
	  	 Status
	  	 Appl. No.

Filing Date
	  	 Reg No:

Reg. Date
	  	 Class/Goods
	  	 Notes

Next Renewal

								
	INOGN.043WAU	  	Australia	  	INOGEN	  	Registered	  	 998788
 4/21/2004
	  	 99339998788
 4/21/2004
	  	10: oxygen concentrators for use by patients suffering from COPD (chronic obstructive pulmonary disease) and other lung disorders	  	4/21/2014
								
	INOGN.044WAU	  	Australia	  	SATELLITE CONSERVER	  	Registered	  	 993396
 3/15/2004
	  	 993396
 3/15/2004
	  	5: Oxygen conserving devices for use by patients suffering from COPD (chronic obstructive pulmonary disease) and other respiratory disorders.	  	3/15/2014
								
	INOGN.045WAU	  	Australia	  	INOGEN ONE	  	Registered	  	 993592
 3/16/2004
	  	 993592
 3/16/2004
	  	10: oxygen concentrators for use by patients suffering from COPD (chronic obstructive pulmonary disease) and other respiratory disorders	  	3/16/2014
								
	INOGN.043WCA	  	Canada	  	INOGEN	  	Registered	  	 1206429
 2/13/2004
	  	 TMA695480
 9/4/2007
	  	Oxygen concentrators for use by patients suffering from COPD and other respiratory disorders.	  	9/4/2022
								
	INOGN.044WCA	  	Canada	  	SATELLITE CONSERVER	  	Registered	  	 1206382
 2/13/2004
	  	 TMA695493
 9/4/2007
	  	Oxygen conservers for use in conserving oxygen for patients suffering from COPD and other respiratory disorders.	  	9/4/2022
								
	INOGN.045WCA	  	Canada	  	INOGEN ONE	  	Registered	  	 1206381
 2/13/2004
	  	 TMA695495
 9/4/2007
	  	Oxygen concentrators for use by patients suffering from COPD and other respiratory disorders	  	9/4/2022
								
	INOGN.043WCL	  	Chile	  	INOGEN	  	Registered	  	 647688
 6/18/2004
	  	 709.723
 11/24/2004
	  	10: Oxygen concentrators for use by patients suffering from copd and other respiratory disorders (chronic obstructive pulmonary disease)	  	11/24/2014
								
	INOGN.044WCL	  	Chile	  	SATELLITE CONSERVER	  	Registered	  	 640116
 3/15/2004
	  	 704.077
 9/23/2004
	  	10: Oxygen conserving devices for use by patients suffering from COPD and other respiratory disorders.	  	9/23/2014
								
	INOGN.045WCL	  	Chile	  	INOGEN ONE	  	Registered	  	 640115
 3/15/2004
	  	 704.076
 9/23/2004
	  	10: Oxygen concentrators for use by patients suffering from COPD and other respiratory disorders	  	9/23/2014
								
	INOGN.043WCN	  	China	  	INOGEN	  	Registered	  	 4040336
 4/27/2004
	  	 4040336
 1/28/2006
	  	10: Oxygen concentrators for use by patients suffering from COPD and other lung disorders.	  	1/27/2016

  
 -7- 

 CONFIDENTIAL 
  

															
	 KMOB Ref.
	  	 Country
	  	 Trademark
	  	 Status
	  	 Appl. No.

Filing Date
	  	 Reg No:

Reg. Date
	  	 Class/Goods
	  	 Notes

Next Renewal

								
	INOGN.044WCN	  	China	  	SATELLITE CONSERVER	  	Registered	  	 3958390
 3/15/2004
	  	 3958390
 5/14/2007
	  	5: Oxygen conserving devices for use by patients suffering from COPD and other respiratory disorders (COPD stands for chronic obstructive pulmonary disease)	  	5/13/2017
								
	INOGN.045WCN	  	China	  	INOGEN ONE	  	Registered	  	 3958391
 3/16/2004
	  	 3958391
 2/21/2007
	  	5: Oxygen concentrators for use by patients suffering from COPD and other respiratory disorders|(COPD stands for chronic obstructive pulmonary disease)	  	2/20/2017
								
	INOGN.044WEU	  	European Community	  	SATELLITE CONSERVER	  	Registered	  	 3668365
 2/18/2004
	  	 3668365
 10/20/2005
	  	10: Oxygen concentrators for use by patients suffering from chronic obstructive pulmonary disease and other respiratory disorders	  	2/18/2014
								
	INOGN.076WEU	  	European Community	  	INOGEN	  	Registered	  	 010206621
 8/19/2011
	  	 010206621
 12/27/2011
	  	 10: Medical devices and related accessories for use in providing supplemental oxygen for medical purposes; Oxygen concentrators for medical
applications
  
 44: Providing medical information in the field of supplemental oxygen and
oxygen therapy; advisory services relating to medical apparatus and instruments in the field of supplemental oxygen and oxygen therapy and distribution of training materials in connection therewith; health services and home care services relating to
oxygen therapy
	  	8/19/2021
								
	INOGN.077WEU	  	European Community	  	INOGEN ONE	  	Registered	  	 010206696
 8/19/2011
	  	 010206696
 12/27/2011
	  	 10: Medical devices and related accessories for use in providing supplemental oxygen for medical purposes; Oxygen concentrators for medical
applications
  
 44: Providing medical information in the field of supplemental oxygen and
oxygen therapy; advisory services relating to medical apparatus and instruments in the field of supplemental oxygen and oxygen therapy and distribution of training materials in connection therewith; health services and home care services relating to
oxygen therapy
	  	8/19/2021
								
	INOGN.043WKR	  	Korea, South	  	INOGEN	  	Registered	  	 4.02004E+12
 4/20/2004
	  	 637582
 11/3/2005
	  	10: Oxygen concentrators for use by patients suffering from copd (chronic obstructive pulmonary disease) and other lung disorders	  	11/3/2015

  
 -8- 

 CONFIDENTIAL 
  

															
	 KMOB Ref.
	  	 Country
	  	 Trademark
	  	 Status
	  	 Appl. No.

Filing Date
	  	 Reg No:

Reg. Date
	  	 Class/Goods
	  	 Notes

Next Renewal

								
	INOGN.044WKR	  	Korea, South	  	SATELLITE CONSERVER	  	Registered	  	 40-2004-11521
 3/15/2004
	  	610028 3/2/2005	  	10: Oxygen conserving devices for use by patients suffering from COPD and other respiratory disorders	  	3/2/2015
								
	INOGN.045WKR	  	Korea, South	  	INOGEN ONE	  	Registered	  	 402004-11520
 3/15/2004
	  	609209 2/22/2005	  	10: Oxygen concentrators for use by patients suffering from COPD and other respiratory disorders	  	2/22/2015
								
	INOGN.043WMX	  	Mexico	  	INOGEN	  	Registered	  	 646866
 3/15/2004
	  	896853 8/25/2005	  	10: Devices for maintenance of oxygen for use in patient sufren copd (disease obstructiva pulmonary news chronicle) and other disorders breathing.	  	3/15/2014
								
	INOGN.044WMX	  	Mexico	  	SATELLITE CONSERVER	  	Registered	  	 646865
 3/15/2004
	  	886683 6/20/2005	  	10: Oxygen conserving devices for use by patients suffering from COPD and other respiratory disorders	  	3/15/2014
								
	INOGN.045WMX	  	Mexico	  	INOGEN ONE	  	Registered	  	 646864
 3/15/2004
	  	883563 5/27/2005	  	10: Oxygen concentrators for use by patients suffering from COPD (chronic obstructive pulmonary disease) and other respiratory disorders	  	3/15/2014
								
	INOGN.043WNZ	  	New Zealand	  	INOGEN	  	Registered	  	 711285
 4/21/2004
	  	711285 4/21/2004	  	10: Oxygen concentrators for use by patients suffering from copd (chronic obstructive pulmonary disease) and other lung disorders	  	4/21/2014
								
	INOGN.044WNZ	  	New Zealand	  	SATELLITE CONSERVER	  	Registered	  	 709598
 3/15/2004
	  	709598 9/15/2003	  	10: Oxygen concentrators for use by patients suffering from chronic obstructive pulmonary disease and other respiratory disorders	  	9/15/2013
								
	INOGN.045WNZ	  	New Zealand	  	INOGEN ONE	  	Registered	  	 709759
 3/15/2004
	  	709759 9/16/2003	  	10: Oxygen concentrators for use by patients suffering from COPD and other respiratory disorders	  	9/16/2013

  
 -9- 

 CONFIDENTIAL 
  

 SCHEDULE 1.1 

COPYRIGHT COLLATERAL 
  

							
	 TITLE
	  	 Reg. No.
	  	 Reg. Date.
	  	 Owner

				
	Reclaim your independence (brochure)	  	TX0007429423	  	8/4/11	  	Inogen, Inc.
				
	Reclaim your freedom (envelope)	  	TX0007429424	  	8/4/11	  	Inogen, Inc.

  

	1.2	Pledged Shares – None. 

 3.2 

The Company purchased Comfort Life Medical Supply, LLC (“Comfort Life”), in December 2008. In April 2009 Inogen merged
Comfort Life into Inogen’s operations completely. See the Comfort Life merger documents for additional information. Tax ID# was 51-0666497 until merger. 

The Company purchased Breathe Oxygen Services, LLC (“Breathe Oxygen”), in August 2011. In August 2011 Inogen merged Breathe
Oxygen into Inogen’s operations completely. See the Breathe Oxygen merger documents for additional information. Tax ID# was 84-1726152 until merger. 

The Company’s Books and Records are located at 326 Bollay Drive, Goleta, CA 93117. 

 

					
	3.3	  	(a)	  	 Location of Inventory & Equipment

Inventory & Equipment located at
 326 Bollay Drive,
Goleta, CA 93117;
 1450 Sam Davis Road, Suite 140, Smyrna, TN 37167

1125 East Collins Blvd, Suite 200, Richardson, TX 75081

			
		  		  	Note: Inogen’s business model includes deploying Inogen assets throughout the US into patient’s homes. Inogen provides a list monthly of these assets.
			
		  	(b)	  	 Account Information 
 Comerica Bank

 Checking Account # 1894506805
 Money Market # 1894329471

 Square One Bank 
 Money Market #
111381

			
		  	(c)	  	None.
		
	3.7	  	California, Delaware, Tennessee, TexasEX-10.23

 Exhibit 10.23 

Alison Bauerlein (“Associate”) 

Management Carve-Out Bonus Award 
  

	1.	Introduction. The Inogen CEO and the Board of Directors (the “Board”) has decided to grant a Management Carve-Out Incentive Bonus benefit to a select group of key associates whose contributions
are important to Inogen’s (the “Company’s”) future success. The goal of this benefit (the “Management Carve Out Bonus Program” or “MCO”) is to motivate recipients with the opportunity to share in the increased
wealth created as the long term objectives of the Company are achieved. You have been confidentially selected as one of the few associates to receive this new benefit because of the important contributions you have made and are expected to make to
the achievement of such objectives going forward. 

  

	2.	Bonus Amount and Payment Conditions. If the 2 conditions listed below are satisfied, you will be paid at least the following percentage (your “MCO”) of the “MCO Pool” (explained below):
17.5% 

  

	 	a.	Change in Control Condition. The threshold trigger for payment of your MCO will be a “Change in Control” of the company. The term “Change in Control” (or “CIC”) shall have the
same meaning as “Change in Control” in the Company’s current Stock Incentive Plan, namely: 

 “(i)
the acquisition, directly or indirectly, in one transaction or a series of related transactions, by any person or group (within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended) of the beneficial ownership of
securities of the Company possessing more than fifty percent (50%) of the total combined voting power of all outstanding securities of the Company; (ii) a merger or consolidation in which the Company is not the surviving entity, except for
a transaction in which the holders of the outstanding voting securities of the Company immediately prior to such merger or consolidation hold, in the aggregate, securities possessing more than fifty percent (50%) of the total combined voting
power of all outstanding voting securities of the surviving entity immediately after such merger or consolidation; (iii) a reverse merger in which the Company is the surviving entity but in which securities possessing more than fifty percent
(50%) of the total combined voting power of all outstanding voting securities of the Company are transferred to or acquired by a person or persons different from the persons holding those securities immediately prior to such merger;
(iv) the sale, transfer or other disposition (in one transaction or a series of related transactions) of all or substantially all of the assets of the Company; or (v) the approval by the stockholders of a plan or proposal for the
liquidation or dissolution of the Company.” 
  

	 	b.	 Employment Condition. Your MCO Award is conditioned on you still being employed by the Company at the time that the CIC occurs. If you
are no longer employed by the Company at that time for any reason (i.e. because you quit or were terminated with or without cause, or otherwise ceased employment with the Company), you will not receive all or any part of the MCO. Neither your MCO
nor  

 
this letter agreement gives you any right to continued employment with the Company. In addition, to receive your full MCO, you must have been a full time employee of the Company for 2 (two) years
prior to the CIC. If your employment term falls short of 2 (two) years, then you shall receive a prorated portion of your MCO equal to the percent of the 2 (two) years that you have been employed. For example, if you were employed for 12 months
prior to the CIC date, then you would receive half of the MCO percent set forth above. The remainder (i.e. in this example 50% of your MCO) would flow back into the bonus pool to be prorated amongst the other MCO participants, being allocated in
proportion to their MCO payouts. Therefore, it is possible for you to receive more than your MCO percent of the Pool if you’ve been with the Company for 2 (two) years and some of the other MCO participants fall short of meeting the 2 (two) year
target, or are no long employed by the Company at the time of the CIC. 
  

	3.	Bonus not guaranteed or accrued. Both of the above conditions coming together (CIC and your continued employment) are necessary to earn the MCO, and no portion of the MCO is earned, accrued or vested
unless/until both of the conditions are satisfied at the same time. You will have no right to compensation or damages or any other sum or benefit in respect of your ceasing to be eligible for or not being awarded any benefit under the MCO or in
respect of any loss or reduction of any rights or expectation under it. Participation in the MCO is permitted only on the basis that any such right as might otherwise arise is excluded and waived. Any income obtained in connection with the MCO is
special and not guaranteed, and there is no commitment by the Company to offer such benefits in the future. 

  

	4.	Management Carve-Out Pool. The Management Carve-Out Pool (the “Pool” or “MCO Pool”) will be created upon the occurrence of a CIC, and will consist of the following amounts:

  

	 	a.	In the event of a CIC, 1% of the fully diluted share value of the company (after any transaction fees have been paid; such amount being referred to as the “Equity Value”) will go into the MCO Pool ahead of any
existing liquidation preferences to preferred shareholders. The “floor” or minimum of the MCO Pool will be [*]. 

  

	 	b.	If the CIC results in a per share stock price valuation of [*]/share or more, then the following additions will be made to the MCO Pool: 

 

	 	i.	0.01% of the total equity value will be added to the initial funding of 1% for every 0.02$-increment by which the actual share value exceeds [*] (e.g. MCO = 1.01% of equity value if the share price is [*] or [*]; MCO =
1.02% of equity value if the share price is [*] and [*] etc.). 

  

	 	ii.	Funding of the MCO-pool is capped at max 2% of equity value. 

  

	 	c.	Changes in Capital Structure. The foregoing MCO Pool assumes 52,807,785 shares on a fully diluted basis. In the event that the number of fully diluted shares are hereafter increased or decreased by reason
of a recapitalization, stock split, reverse 

  

	*	Confidential treatment has been requested with respect to this portion of the exhibit. 

  
 -2- 

	 	
stock split, combination of shares, stock dividend, or other similar change, then appropriate adjustments shall be automatically made to the foregoing provisions in order to preserve, as nearly
as practical, the benefits to MCO participants. 

  

	 	d.	MCO Pool Calculation & Timing of MCO Payment. The MCO Pool shall mean the aggregate net value of all cash, securities, notes, debentures, purchase options, consideration paid for and any
other tangible net benefit to the Company, its shareholders or directed beneficiaries and other property and valuable consideration of every kind paid in connection with the CIC. The aggregate net value of such consideration shall be the aggregate
net value thereof as determined jointly by the recipient of the largest share of the MCO Pool (“Recipient”) and the Company, or, if the parties cannot agree, then the value determined by an independent appraiser jointly selected by such
parties. The MCO Pool shall be paid to the recipients in the same medium (i.e., cash or stock or other purchase consideration) and in the same ratio of such mediums, and in the same time periods as received by the Company. 

 

	5.	Confidentiality. For obvious HR and other reasons, we expect you to keep the MCO program generally, and your personal Target Bonus in particular, highly confidential. You are free to discuss it with your
spouse and your legal/financial advisor, but sharing this information beyond this limited group will be grounds for discipline, including revocation of your MCO, as well as termination of your employment. 

 

	6.	Miscellaneous. The MCO and this letter agreement will be governed under California law. Any payments hereunder will be subject to withholding for taxes and the like-This agreement is dated as of
July 1, 2012. 

  

					
			
	/s/ Raymond Huggenberger	 		 	/s/ Alison Bauerlein
	Raymond Huggenberger, CEO for Inogen	 		 	Alison Bauerlein

  
 -3-

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