Document:

Exhibit

SECOND AMENDMENT TO
AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

THIS  SECOND AMENDMENT  TO AMENDED  AND  RESTATED  LOAN AND
SECURITY  AGREEMENT  (this "Amendment") is entered into this 23 day of May, 2016,
by and between SILICON VALLEY BANK, a California corporation ("Bank"), and APIGEE CORPORATION,  a Delaware  corporation ("Borrower").

RECITALS

A.Bank and Borrower have entered into that certain Amended and Restated Loan and Security Agreement dated as of November 17, 2014, as amended by that certain First Amendment to Amended and Restated Loan and Security Agreement by and between Bank and Borrower dated as of March 2, 2016 (as the same may from time to time be further amended, modified, supplemented or restated, the "Loan Agreement").

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

C.Borrower is currently in default of the Loan Agreement for failing to comply with the terms and conditions of Section 6.6 of the Loan Agreement by allowing its UK Subsidiary to maintain an aggregate balance in excess of Two Million Dollars ($2,000,000) in the External HSBC Accounts during the month ending April 30, 2016 (the "Existing Default"), which if not waived by Bank would constitute an Event of Default.

D.Borrower has requested that Bank waive the Existing Default and amend the Loan Agreement to make certain revisions to the Loan Agreement, as more fully set forth herein.

E.Although Bank is under no obligation to do so, Bank is willing to (i) waive the Existing Default, and (ii) amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.

AGREEMENT

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

1.Defmitions. Capitalized terms used but not defined in  this  Amendment, including its preamble and recitals, shall have the meanings given to them in the Loan Agreement.

2.Waiver of Existing Default. Subject to the terms of this Amendment, Bank hereby waives the Existing Default. Bank's agreement to waive the Existing Default shall in no way obligate Bank to make any other modifications to the Loan Agreement or to waive Borrower's compliance with any other terms of the Loan Documents, and shall not limit or impair Bank's right to demand strict performance of all other terms and covenants as of any date.

The waiver set forth in this Section 2 shall not be deemed or otherwise construed to constitute a waiver of any other provision of this Amendment or the Loan Agreement.

		
	3.
	Amendments  to Loan Agreement.

3.1    Section 6.6 (Operating Accounts). Section 6.6 of the Loan Agreement is hereby amended by deleting it in its entirety and replacing it with the following:

6.6    Operating Accounts.

(a)Maintain all of its and all of its Subsidiaries' primary domestic operating, deposit and investment accounts with Bank and its Affiliates, including all foreign exchange transactions and letters of credit, if such Bank Services are available. Notwithstanding the foregoing, Borrower shall cause its UK Subsidiary to maintain all of its primary operating, deposit and investment accounts with Bank's and its Affiliates' branches located in the United Kingdom, including all foreign exchange transactions and letters of credit, if such Bank Services are available; provided, however, Borrower's UK Subsidiary may maintain the External HSBC Accounts, provided that the aggregate balance of such External HSBC Accounts shall not be greater than Four Million Dollars ($4,000,000) at any time.

(b)Provide Bank five (5) days prior written notice before establishing any Collateral Account at or with any bank or financial institution other than Bank or Bank's Affiliates. For each Collateral Account that Borrower at any time maintains  in  the United States, Borrower shall cause the applicable bank or financial institution (other than Bank) at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Bank's Lien in such Collateral Account in accordance with the terms hereunder which Control Agreement may not be terminated without the prior written consent of Bank. The provisions of the previous sentence shall not apply to (i) deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower's employees and identified to Bank by Borrower as such, and (ii) the External HSBC Accounts, provided that the aggregate balance of such External HSBC Accounts shall not be greater than Four Million Dollars ($4,000,000) at any time.

3.2    Compliance Certificate. Exhibit C of the Loan Agreement is replaced in its entirety with Exhibit C attached hereto. From and after the date hereof, all references in the Loan Agreement to the Compliance Certificate shall be deemed to refer to Exhibit C attached hereto.

		
	4.
	Limitation  of Waiver  and Amendments.

4.1    The waiver and amendments set forth in Sections 2 and 3, above, respectively, are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term  or  condition  of  any Loan  Document,  or (b) otherwise  prejudice  any right  or

remedy which Bank may now have or may have in the future under or in connection with any Loan Document.

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

4.3    In addition to those Events of Default specifically enumerated in the Loan Documents, the failure to comply with the terms of any covenant or agreement contained herein shall constitute an Event of Default and shall entitle the Bank to exercise all rights and remedies provided to the Bank under the terms of any of the other Loan Documents as a result of the occurrence of the same.

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

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

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

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

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

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

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

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

6.Integration. This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents.

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

8.Effectiveness. This Amendment shall be deemed effective upon (a) the due execution and delivery to Bank of this Amendment by each party hereto, and (b) payment of Bank's legal fees and expenses in connection with the negotiation and preparation of this Amendment.

[Signature page follows.]

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

BANK:

SILICON VALLEY BANK

By:         
Name:         
Title:            
 
BORROWER:

APIGEE CORPORATION

By: /s/ Tim Wan
Name: Tim Wan
Title: CFO 

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

BANK:

SILICON VALLEY BANK

By:  /s/ Sean Thompson                                    
Name:  Sean Thompson                                     
Title:   Vice President        
 
BORROWER:

APIGEE CORPORATION

By:                                     
Name:                       
Title:                                    

EXHIBIT C

COMPLIANCE CERTIFICATE

TO:    SILICON VALLEY BANK    Date:     _ FROM:  APIGEE CORPORATION
The undersigned authorized officer of Apigee Corporation ("Borrower") certifies that under the terms and conditions of the Amended and Restated Loan and Security Agreement between Borrower and Bank (the "Agreement"):

(1) Borrower  is  in  complete  compliance   for  the  period  ending    with  all  required covenants except as noted below; (2) there are no Events of Default; (3) all representations and warranties in the Agreement are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; (4) Borrower, and each of its Subsidiaries, has timely filed all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except as  otherwise permitted pursuant to the terms of Section 5.9 of the Agreement; and (5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits of which Borrower has not previously provided written notification to Bank.

Attached are the required documents supporting the certification. The undersigned certifies that these are prepared in accordance with GAAP consistently applied from one period to the next except (i) as explained in an accompanying letter or footnotes and (ii) with respect to unaudited financial statements for the absence of footnotes and subject to year-end adjustments. The undersigned acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered. Capitalized terms used but not otherwise defmed herein shall have the meanings given them in the Agreement.

Please indicate compliance status by circling Yes/No under "Complies" column.

	
				
	Reporting Covenant
	Required
	Complies

	 
	 
	 

	Periodic financial statements with Compliance Certificate ("CC")
	Within 45 days after the last day of each (i) fiscal quarter when Borrower's Adjusted Quick Ratio is greater than or equal to the AQR Threshold and there are no outstanding Advances, and (ii) month at all other times
	Yes
	No

	Bookings Report
	Within 45 days after the last day of each fiscal quarter
	Yes
	No

	Annual financial statement (CPA Audited) + CC
	FYE within 180 days
	Yes
	No

	10-Q, 10-K and 8-K
	With next Compliance Certificate
	Yes
	No

	Borrowing Base Certificate; A/R & A/P Agings
	Within 45 days after the last day of each (i) fiscal
quarter when Borrower's Adjusted Quick Ratio is greater than or equal to the AQR Threshold and there are no outstanding Advances, and (ii) month at all other times
	Yes
	No

	Annual Board Approved financial projections
	Annually within 7 days after board approval or more frequently as updated
	Yes
	No

	
					
	Financial  Covenants
	Required
	 
	Actual
	Complies

	 
	 
	 
	 
	 

	Maintain (tested (i) quarterly when Borrower's Adjusted Quick Ratio is greater than or equal to the AQR Threshold and there are no outstanding Advances, and (ii) monthly at all other times):
	 
	 
	 

	Adjusted Quick Ratio
	>1.75:1.00
	:1.00
	Yes  No

	
				
	 
	 
	 
	 

	Maintain (tested quarterly):
	 
	 
	 

	Minimum Revenue
	 
	 
	 

	Trailing 6 month period ending January 31, 2016
	$35,000,000
	$---
	Yes  No

	Trailing 9 month period ending April 30, 2016
	$54,000,000
	$ --
	Yes  No

	Trailing 12 month period ending July 31, 2016
	$74,750,000
	$ --
	Yes  No

The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate.

	
					
	External HSBC Account Covenant
	Required
	 
	Actual
	Comolies

	 
	 
	 
	 
	 

	Aggregate balance of External HSBC Accounts
	< $4,000,000
	$
	Yes   No

Other Matters
	
					
	Have there been any amendments of or other changes to the capitalization table of Borrower (prior to the date on which an initial public offering of Borrower's common stock has been consummated) and to the Operating Documents of Borrower or any of its Subsidiaries? If yes, provide copies of any such amendments or changes with this Compliance Certificate.
	 
	Yes
	 
	No

	 
	 
	 
	 
	 

	Have there been any 10-Q, 10-K and 8-K filings by Borrower with the SEC (or any Governmental Authority succeeding to any or all of the functions of the SEC), or distributed to its shareholders, as the case may be? If yes, provide copies of any such filings.
	 
	Yes
	 
	No

	 
	 
	 
	 
	 

The  following  are  the  exceptions  with  respect  to  the certification  above:    (If no  exceptions  exist,   state  "No exceptions to note.")
______________________________________________________________________________________________________________
______________________________________________________________________________________________________________

	
			
	APIGEE CORPORATION
	 
	BANK USE ONLY

	 
	 
	 

	By:     
	 
	Received by:     _
AUTHORIZED SIGNER

	Name:      
	 
	Date:        

	         Title:     
	 
	Verified:     _
AUTHORIZED SIGNER

	 
	 
	Date:    

	 
	 
	Compliance Status:    Yes    No

	 
	 
	 

Schedule 1 to Compliance Certificate Financial Covenants of Borrower
In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern.
Dated:         

I.    Adjusted Quick Ratio (Section 6.7(a) of the Loan Agreement)

Reguired: Tested as of the last day of each (i) fiscal quarter when Borrower's Adjusted Quick Ratio is greater than or equal to the AQR Threshold and there are no outstanding Advances and (ii) monthly at all other times, an Adjusted Quick Ratio of at least 1.75 to 1.00.
	
			
	Actual:

	A.
	Aggregate value of Borrower's unrestricted cash not subject to any Lien securing Indebtedness
	$    

	B.
	Aggregate value of Borrower's Cash Equivalents
	$    

	C.
	Aggregate value of net billed accounts receivable
	$    

	D.
	Quick Assets (the sum of lines A, B, and C)
	$    

	E.
	Aggregate value of all obligations and liabilities of Borrower to Bank
	$    

	F.
	Without duplication to line E, the aggregate amount of obligations that should, under GAAP, be classified as liabilities on Borrower's consolidated balance sheet, including all Indebtedness, and current portion of Subordinated Debt permitted by Bank to be paid by Borrower, but excluding all Subordinated Debt, that mature within one year
	$    

	G.
	Current Liabilities (the sum of lines E and F)
	$    

	H.
	Aggregate value of all amounts received or invoiced in advance of performance under contracts and not yet recognized as revenue
	$

	 

	I.
	Adjusted Quick Ratio (line D divided by line G, minus H)
	--

Is line I at least 1.75 to 1.00?

     No, not in compliance        Yes, in compliance

[Schedule 1 to Exhibit C]

IL    Minimum Revenue (Section 6.7(b) of the Loan Agreement)

Required: Tested as of the last day of each fiscal quarter, minimum revenue under GAAP, measured for the trailing period specified below, of at least the following amounts at the following times:

	
		
	Trailing Period
	Minimum Revenue

	Trailing 6 month period ending January 31, 2016
	$35,000,000

	Trailing 9 month period ending April 30, 2016
	$54,000,000

	Trailing 12 month period ending July 31, 2016
	$74,750,000

Actual:

	
			
	A.
	Revenue
	$_______________

Is the value of line A equal to or greater than the required amount?

     _ No, not in compliance        Yes, in compliance

[Schedule 1 to Exhibit C]EX-10.1

			
	

	  	 Exhibit 10.1
  

Aircastle Advisor LLC

300 First Stamford Place, 5TH Floor

Stamford, CT 06902

October 4, 2016 
 Dear Aaron: 

This letter confirms our agreement regarding severance that you are eligible to receive in the event of a Qualifying Termination with
Aircastle Limited and its subsidiaries (collectively, the “Company”). Capitalized terms not defined in Appendix A shall have the meaning given in the Aircastle Limited 2014 Omnibus Incentive Plan, as amended or superseded. In the
event of a Qualifying Termination, you will receive the following as severance: 
  

	 	1.	one year’s total compensation, being equal to the sum of your annual base salary and target bonus as in effect on the termination date; 

 

	 	2.	that portion of your annual bonus for the period of your employment (January 1 through the date of termination), which you would have been otherwise entitled to receive under the Company’s bonus plan, based on
actual corporate performance for such year; and 

  

	 	3.	provided that you timely elect COBRA continuation coverage, reimbursement of your COBRA premiums under the Company’s health plans during the twelve (12) month period following termination, provided there are
no adverse tax results to the Company and reimbursements shall cease if you become eligible to participate in the health plan of a subsequent employer; the reimbursement period shall run concurrently with your applicable COBRA continuation period.

 These amounts will be paid subject to applicable tax withholdings and your execution of a release of claims in a form
reasonably satisfactory to the Company (and the expiration of any revocation period for such release) within sixty (60) days following the Qualifying Termination date and are in lieu of any other severance you may be entitled to receive from
the Company. Subject to the foregoing, the amount described in clause 1 shall be paid in a lump sum by the sixtieth (60th) day after the Qualifying Termination date and the amount described in clause 2 shall be paid when annual bonuses are
generally paid to employees of the Company. In return for the foregoing, you agree to be bound by the covenants of Competition and Solicitation as set forth in Appendix A. All questions concerning the construction, validity and interpretation
of this letter shall be governed by the laws of the State of Connecticut without giving effect to principles of conflicts of law of such state. 

If any of payments received by you would be not be deductible by the Company due to Section 280G of the Internal Revenue Code of 1986, as
amended, then such payments will be reduced to the extent necessary to make such payments deductible, with full value cash payments being reduced before non-cash payments, and payments to be paid last being reduced first. 

 Please indicate your agreement to the foregoing by signing the enclosed copy of this letter and
returning it to me at your earliest convenience. 
  

	
	Sincerely,
	
	/s/ Christopher Beers
	Christopher Beers
	General Counsel

 Accepted: /s/ Aaron Dahlke          

 

 Appendix A 

1.    “Good Reason” means the occurrence, without your express prior written consent, of any of the
following events: (i) the failure by the Company to pay you any material portion of your base salary within ten (10) days of the date such base salary is due, (ii) the relocation of your principal location of employment to a location
outside a twenty (20) mile radius from its then current location, (iii) any material diminution of your duties, responsibilities or authorities hereunder (provided, however, that the consummation of a transaction whereby the Company is no
longer publicly held will not by itself constitute such a diminution), or (iv) any breach by the Company of any of its material obligations to you. Notwithstanding the foregoing, you must give the Company detailed, written notice of any event
or circumstance you consider to constitute Good Reason within ninety (90) days of the initial existence of event or circumstance and a reasonable opportunity (not less than thirty (30) days) for the Company to cure such event or
circumstance. 
 2.    “Qualifying Termination” means there is a Change in Control of the Company, and
within one-hundred twenty (120) days prior thereto, or within twelve (12) months thereafter, your employment is terminated by the Company (other than for Cause or due to your death or disability) or you terminate your employment for Good
Reason. 
 3.    “Competition” means that during the period of your employment with the Company: 

(a)    you will not: (i) directly or indirectly, engage in, manage, operate, control, supervise, or
participate in the management, operation, control or supervision of any business or entity which competes with (any such action individually and in the aggregate, to compete with) the Company or serve as an employee, consultant or in any other
capacity for such business or entity; (ii) have any ownership or financial interest, directly, or indirectly, in any competitor including, without limitation, as an individual, partner, shareholder (other than as a shareholder of a
publicly-owned corporation in which you own less than five percent (5%) of the outstanding shares of such corporation), officer, director, employee, principal, agent or consultant, or (iii) serve as a representative of any business
organization; any or all of which, without first obtaining written approval of the chief executive officer of the Company. You also agree that as long as you are employed by the Company, you will not undertake the planning or organization of any
business activity competitive with the Company. In this regard, you acknowledge that the Company’s business, which you support, is worldwide in scope, and that, as a result, having a restriction on your employment which is also worldwide in
scope, is a reasonable one; and 
 (b)    six (6) months thereafter, (i) the provisions of
3(a)(i) and (ii), above, shall apply, and (ii) you will not directly or indirectly, solicit, take away, divert or attempt to divert, the business or patronage of any clients or customers of the Company for the purpose of providing services that
materially compete with the services provided by the Company at the time of your termination. 

4.    “Solicitation” means that during the period of your employment with the Company and for twelve
(12) months thereafter, you shall not, directly or indirectly, other than in connection with carrying out your duties during the period of your employment with the Company, solicit or induce any of the employees or consultants of the Company
(or individuals who served as employees or consultants of the Company at any time during the preceding nine (9) month period): (i) to terminate their employment or relationship with the Company, and/or (ii) to work for you or any
competitor of the Company.

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