Document:

Employment Agreement with Mark Shirman

 Exhibit 10.2 
 GLASSHOUSE TECHNOLOGIES, INC. 
 Employment Agreement 
 In consideration of my employment or continued employment, as the case may be, by Glass House Technologies, Inc. (the “Company”), and the grant
of options to purchase shares of common stock, par value $.001 (“Common Stock”), of the Company, I, the undersigned employee, hereby agree with the Company as follows: 
 1. Proprietary Information. 
 (a) I
understand that the Company possesses and will continue to possess information that has been or will be created, discovered, developed or otherwise become known to the Company (including, without limitation, information created, discovered,
developed or made known to me during the period of my employment by the Company to be used in the actual or anticipated business of the Company) or in which property rights have been or will be assigned or otherwise conveyed to the Company, which
information has commercial value in the business in which the Company is engaged and is treated by the Company as confidential or proprietary. All such information is hereafter called “Proprietary Information.” By way of illustration, but
not limitation, Proprietary Information includes processes, formulas, data, computer programs, software and documentation, know-how, improvements, discoveries, developments, designs, algorithms, inventions, techniques, strategies, new products,
marketing plans, forecasts, unpublished financial statements, business forms, contract forms, report formats, budgets, projections, licenses, prices, costs, customer, client and supplier lists and employee information and any other information of a
similar nature not available to the public, whether oral or written, in drawings or in machine-readable form, and whether or not expressly marked “Confidential” or “Proprietary.” I acknowledge that the development and acquisition
of the Proprietary Information are the result of great effort and expense on the part of the Company and are critical to the success and survival of the Company. 
 (b) All Proprietary Information shall be the sole property of the Company, and the Company shall be the sole owner of all patents, copyrights and other rights related thereto. I hereby assign to the Company any rights
I may have or acquire in such Proprietary Information. At all times, both during my employment by the Company and after its termination for whatever reason, I will keep in strictest confidence and trust all Proprietary Information, and I will not
use or disclose any Proprietary Information without the prior written consent of the Company, except as may be necessary in the ordinary course of performing my duties as an employee of the Company. In the event of the termination of my employment
by me or by the Company for any reason or upon three (3) business days after written request by the Company, I will deliver to the Company all documents, notes, drawings, specifications, data, and other materials of any nature pertaining to my
work with the Company and/or containing Proprietary Information, and I will not take with me or retain any of the foregoing, any reproduction of any of the foregoing, or any Proprietary Information that is embodied in a tangible medium of
expression. For purposes of the third and fourth sentence of this Section 1(b), Proprietary Information shall include confidential or proprietary information the Company has received and may in the future receive from third parties, which is
subject to the Company’s obligation to maintain the confidentiality of such information and to use it only for certain limited purposes. 
 2. Developments, Etc. 
 (a) I will promptly disclose to the Company (or any persons designated by it) all processes,
formulas, data, computer programs, software and documentation, know-how, improvements, discoveries, developments, designs, algorithms, inventions, techniques, strategies and new products, whether or not patentable or registrable under copyright or
similar statutes, made or conceived or reduced to practice or learned by me, either alone or jointly with others, during the period of my employment that are related to or useful in the actual or anticipated business of the Company, result from
tasks assigned to me by the Company, or result from the use of premises owned, leased or contracted for by the Company (all of the foregoing are hereinafter referred to as “Developments”). To the fullest extent permitted by law, the
Developments will be deemed work made for hire. I will also promptly disclose to the Company, and the Company hereby agrees to receive all such disclosures in confidence, all other processes, formulas, data, 

 
computer programs, software and documentation, know-how, improvements, discoveries, developments, designs, algorithms, inventions, techniques, strategies and
new products, whether or not patentable or registrable under copyright or similar statues, made or conceived or reduced to practice or learned by me, either alone or jointly with others, during the period of my employment for the purpose of
determining whether they constitute Developments. The provisions of this Section 2 will apply to all Developments which are conceived or developed during the term of my employment with the Company, whether or not further development or
reduction to practice may take place after termination of my employment. 
 (b) I agree that all Developments shall be the sole property of
the Company, and the Company shall be the sole owner of all patents, copyrights and other rights in connection therewith. I hereby assign to the Company any rights I may have or acquire in such Developments. I further agree as to all such
Developments to assist the Company in every proper way (but at the Company’s expense) to obtain and from time to time enforce patents, copyrights and other rights and protections relating to said Developments in any and all countries, and to
that end I will execute all documents for use in applying for and obtaining such patents, copyrights and other rights and protections and enforcing such Developments, as the Company may desire, together with any assignments thereof to the Company or
persons designated by it. My obligation to assist the Company in obtaining and enforcing patents, copyrights and other rights and protections relating to such Developments in any and all countries shall continue beyond the termination of my
employment, but the Company shall compensate me at a reasonable rate after my termination for time actually spent by me at the Company’s request on such assistance. 
 3. Former Employment. I represent that my performance of all the terms of this Agreement and as an employee of the Company does not and will not breach any agreement to keep in confidence proprietary
information acquired by me in confidence or in trust prior to my employment by the Company. I have not entered into, and I agree I will not enter into, any agreement either written or oral in conflict herewith. I represent, as part of the
consideration for the offer of employment extended to me by the Company and of my employment or continued employment (as the case may be) by the Company, and the grant of options to purchase shares of Common Stock of the Company that I have not
brought and will not bring with me to the Company for use in the performance of any of my responsibilities for the Company any materials or documents of a former employer that are not generally available to the public, unless I have obtained express
written authorization from the former employer for their possession and use. I also understand that, in my employment with the Company, I am not to breach any obligation of confidentiality that I have to former employers, and I agree that I shall
fulfill all such obligations during my employment with the Company. 
 4. Other Employment; Extent of Service. I agree that during the
period of my employment by the Company I will not, without the Company’s prior express written consent, engage in any employment or business other than for the Company. During the term of my employment, I agree to use my best efforts in, and
shall devote substantially all of my working time, attention, skill and energies to, the advancement of the interests of the Company and the performance of my duties and responsibilities in connection with my employment with the Company. 

5. Covenant Not to Compete. 
 (a) I
agree that in the event I am terminated from Company for Cause or resign for a reason other than Good Reason, I will not, for a period of one (1) year after my separation from Company, serve as a compensated or uncompensated employee, or
provide any labor or services for any company, that is directly competitive with the Company at the time of my separation. 
 1. For purposes
of this Agreement, “Cause” shall be defined as theft of Company property, falsification of Company documents or records or improper use or disclosure of Company’s confidential or proprietary information, the failure or inability to
perform any reasonable assigned duties after written notice from Company and a reasonable opportunity to cure such failure or inability, conviction of any felony or conviction of any criminal act (other than ordinary traffic violations) which
impairs or calls into question they ability to perform duties with Company, material breach of Company’s written policies which 

  

 2 

 
materially and adversely affects Company and which are not cured within a reasonable time period, and/or the occurrence of severe physical or mental
disability such that I cannot perform my duties with or without reasonable accommodation. 
 2. “Good reason” shall mean the
occurrence of any of the following without my express written consent: (a) a material diminution in my authority or responsibilities; (b) a material reduction in my salary, benefits or other fringe benefits (unless reductions comparable in
amount and duration are concurrently made for all other Employees of the Company with responsibilities, organizational level and title comparable to mine); or (c) without my consent, the relocation of my principal place of employment more than
50 miles from my then-current principal place of employment or the imposition of travel requirements substantially more demanding on me. 
 3. This provision (Section 5) shall not become effective until I have completed six (6) months of employment. 
 (b) The
restrictions against competition set forth in this Section 5 are considered by the parties to be reasonable for the purposes of protecting the business of the Company. However, if any such restriction is found by any court of competent
jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a geographic area, I agree that it shall be interpreted to extend only over the maximum period of time, range
of activities or geographic area as to which it may be enforceable. 
 6. Non-Solicitation. During the period of my employment with
the Company and for one (1) year following the termination of my employment for any reason, I agree that I will not, either on my own behalf or on behalf of any other person or entity, directly or indirectly, (i) hire, solicit, or
encourage to leave the employ of the Company any person who is or was an employee of the Company at any time during my employment with the Company, or (ii) solicit, entice away or divert all or part of the business of any person or entity who
is then a client or customer of the Company or who was a client or customer of the Company at the time of my employment, or of any potential client or customer of the Company of which I had knowledge during my employment by the Company. I agree that
client or customer lists, business contracts and related items are the property of the Company and are considered Proprietary Information hereunder. The restrictions described herein shall apply to my activities anywhere in the United States.

 7. Injunctive Relief. I acknowledge and agree that the extent of damage to the Company in the event of a breach by me of any of the
covenants contained in this Agreement would be difficult or impossible to ascertain and that there would be no adequate remedy at law available to the Company in the event of such breach. Consequently, I agree that, in the event of such breach, the
Company shall be entitled to enforce any or all of the covenants contained in this Agreement by injunctive or other equitable relief in addition to receiving damages or other relief to which the Company may be entitled. 
 8. Enforcement. If any portion of this Agreement is determined to be invalid or unenforceable, the remainder shall be enforceable to the maximum
extent possible. 
 9. Binding Agreement. This Agreement shall be binding upon me, my heirs, executors, administrators and assigns.

 10. Governing Law. This Agreement shall be governed by and interpreted under the laws of the State of Delaware, without regard to
its choice of laws principles. I agree that the state or federal courts located within The Commonwealth of Massachusetts shall have exclusive jurisdiction over any dispute arising out of this Agreement, and I hereby agree to submit to personal
jurisdiction of such courts. 
 11. No Contract of Employment. Nothing in this Agreement shall be construed as a contract of
employment between myself and the Company or as a commitment on the part of the Company to retain me in any capacity for any period of time. 
  

 3 

 12. Entire Agreement. This Agreement sets forth the entire understanding between the Company and
me relating to the subject matter hereof and supersedes all previous and contemporaneous written or oral agreements between us relating to the subject matter hereof. 
 I HAVE READ ALL OF THE PROVISIONS OF THIS AGREEMENT AND I UNDERSTAND, AND AGREE TO, EACH OF SUCH PROVISIONS. 
  

	
	 /s/ Mark A. Shirman

	Signature of Employee
	
	Mark A. Shirman
	Printed Name of Employee
	
	200 Crossing Boulevard
	Street Address
	
	Framingham, Massachusetts 01702
	City    State    Zip Code

 Date Executed: March 1, 2004 
  

			
	ACKNOWLEDGED AND ACCEPTED:
	
	GLASSHOUSE TECHNOLOGIES, INC.
		
	By:	 	 /s/ Marc F. Duprė

	Name:	 	Marc F. Duprė
	Title:	 	Secretary

  

 4Loan and Security Agreement

 Exhibit 10.35 
 LOAN AND SECURITY AGREEMENT 
 THIS
LOAN AND SECURITY AGREEMENT NO. 4091 (this “Agreement”) is entered into as of June 30, 2004, by and between LIGHTHOUSE
CAPITAL PARTNERS V, L.P. (“Lender”) and GLASSHOUSE TECHNOLOGIES, INC., a Delaware corporation (“Borrower”) and
sets forth the terms and conditions upon which Lender will lend and Borrower will repay money. In consideration of the mutual covenants herein contained, the parties agree as follows: 
 1. DEFINITIONS AND CONSTRUCTION 
 1.1
Definitions. Initially capitalized terms used and not otherwise defined herein are defined in the California Uniform Commercial Code (“UCC”). 
 “ACH” means the Automated Clearing House electronic funds transfer system. 
 “Advance” means a Loan advanced by
Lender to Borrower hereunder. 
 “Basic Rate” means a per annum rate of interest equal to 7.00%. 
 “Borrower’s Books” means all of Borrower’s books and records, including records concerning Collateral, Borrower’s assets, liabilities,
business operations or financial condition, on any media, and the equipment containing such information. 
 “Collateral” means:
(i) all property in which Lender now has or hereafter obtains a security interest or which is listed on any UCC-1 naming Borrower as Debtor in any capacity and Lender or an affiliate of Lender as Secured Party including Exhibit
A attached hereto; (ii) all property which comes into Lender’s possession in which a security interest is perfected by possession; and (iii) all products and proceeds of the foregoing, including proceeds of
insurance and proceeds of proceeds. 
 “Commitment” means $6,000,000. 
 “Commitment Fee” has the meaning given to such term in Section 2.4(a). 
 “Commitment
Termination Date” means the earliest to occur of (i) June 30, 2005; (ii) any Default or Event of Default, or (iii) in Lender’s sole judgment, there has been a material change in the composition
of the Management of Borrower (“Management” shall be defined as Borrower’s (i) Chief Executive Officer, Mark Shirman, (ii) Senior Vice President of Operations, Michael Tobin, (iii) Senior Vice President of Sales,
Brian Ritchie, or (iv) Chief Technology Officer, James Damoulakis), or Borrower shall not be in the business of providing enterprise data storage consulting services, as of the date of any Notice of Borrowing. 
 “Control Agreement” means an agreement substantially in the form of Exhibit I or otherwise acceptable to Lender. 
 “Default” means any event that with the passing of time or the giving of notice or both would become an Event of Default. 
 “Default Rate” means the lesser of 18% per annum or the highest rate permitted by applicable law. 
 “Disclosure Schedule” means the schedule attached as Schedule 1 hereto. 
 “Event of Default” is defined in Section 8. 
 “Funding Date” means any date on
which an Advance is made to or on account of Borrower hereunder. 
 “Indebtedness” means (i) all indebtedness for borrowed money
or the deferred purchase of property or services, (ii) all obligations evidenced by notes, bonds, debentures or similar instruments, (iii) all capital lease obligations, and (iv) all contingent obligations,
including guaranties and obligations of reimbursement or respecting letters of credit. 
 “Lender’s Expenses” means all reasonable
costs or expenses (including reasonable attorneys’ fees and expenses) incurred in connection with the preparation, negotiation, modification, administration, or enforcement of the Loan or Loan Documents, or the exercise or preservation of any
rights or remedies by Lender, whether or not suit is brought; provided, however, that Lender’s Expenses for the preparation and negotiation of the initial set of Loan Documents shall not exceed $7,500. Lender will apply deposits
received before the date hereof, if any, towards Lender’s Expenses. 
  

 1 

 “Lien” means any lien, security interest, pledge, bailment, lease, mortgage, hypothecation, conditional
sales and title retention agreement, charge, claim, or other encumbrance. 
 “Liquidation Event” means any of: (i) a merger of
Borrower with another entity; (ii) the sale of all or substantially all of Borrower’s assets; or (iii) any transaction (or series of related transactions) whereby the shareholders of Borrower owning at least 50% of
the outstanding voting securities of Borrower immediately prior to such transaction(s) own less than 50% of the outstanding voting securities of Borrower immediately after such transaction(s). 
 “Loan” means all of the Advances, however evidenced, and all other amounts due or to become due hereunder. 
 “Loan Commencement Date” means July 1, 2005. 
 “Loan Documents” means, collectively, this Agreement, the Warrant, the Notes and all other documents, instruments and agreements entered into between Borrower and Lender in connection with the Loan, all as amended or
extended from time to time. 
 “Negative Pledge Agreement” means an agreement in the form of Exhibit H. 
 “Note” means a Secured Promissory Note in the form of Exhibit B. 
 “Notice of Borrowing” means the form attached as Exhibit D.  
 “Obligations” means all Loans, debt, principal, interest, fees, charges, Lender’s Expenses and other amounts, obligations, covenants, and duties owing by Borrower to Lender of any kind or description (whether pursuant
to the Loan Documents or otherwise (with the exception of the Warrant), and whether or not for the payment of money), whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, and including any of
the same obtained by Lender by assignment or otherwise, and all amounts Borrower is required to pay or reimburse by the Loan Documents, by law, or otherwise. 
 “Payment Factor” means for any particular Advance, 3.0913%. 
 “Permitted Indebtedness” means: (i) the
Loan; (ii) trade debt incurred in the ordinary course of Borrower’s business, (iii) Indebtedness secured by clause (ii) of Permitted Liens, (iv) Indebtedness for equipment purchases provided that
(a) any Liens for such Indebtedness are confined to the equipment financed; and (b) such Indebtedness and any Permitted Lien on such Indebtedness is subordinated to the Obligations on terms reasonably acceptable to Lender; and
(c) such Indebtedness is made on commercially reasonable terms as determined by Borrower’s Board of Directors; (v) Indebtedness secured by accounts receivable, provided that (a) any Lien for such Indebtedness secured only
by the accounts receivable of Borrower; and (b) such Indebtedness and any Permitted Lien on such Indebtedness is subordinated to the Obligations on terms reasonably acceptable to Lender; and (c) such Indebtedness is made on commercially
reasonable terms as determined by Borrower’s Board of Directors; and (vi) Indebtedness in the form of earn-out payments which have been earned and are due and owing under the terms of that certain Share Purchase Agreement dated as
of June 10, 2004 between Borrower and Source Enterprise Consulting Limited; provided the aggregate of all such earn-out payments shall not exceed $6,000,000. 
 “Permitted Liens” means: (i) Liens in favor of Lender; (ii) Liens disclosed in the Disclosure Schedule; and (iii) Liens incurred in connection with Permitted
Indebtedness as set forth in Sections (iv) and (v) of the definition of Permitted Indebtedness provided all such Liens are the subject of an intercreditor and subordination agreement between Lender and such third party
financing source, each in form and substance reasonably acceptable to Lender in its sole discretion. 
 “Regulated Substance” means any
substance, material or waste the use, generation, handling, storage, treatment or disposal of which is regulated by any local or state government authority, including any of the same designated by any authority as hazardous, genetic, cloning, fetal,
or embryonic. 
 “Responsible Officer” means each of the Chief Executive Officer and the Senior Vice President – Operations of
Borrower. 
 “Term” means the period from and after the date hereof until the full, final and indefeasible payment of all Obligations.

 “Warrants” means the Warrants in favor of Lender and its affiliated fund, Lighthouse Capital Partners IV, L.P.
(“LCP-IV”) to purchase securities of Borrower substantially in the form of Exhibit C. 
 1.2 Interpretation.
References to “Articles,” “Sections,” “Exhibits,” and “Schedules” are to articles, sections, exhibits and schedules herein and hereto unless otherwise indicated. “Hereof,” “herein” and
“hereunder” refer to this Agreement as a whole. 

  

 2 

 
“Including” is not limiting. All accounting and financial computations shall be computed in accordance with generally accepted accounting
principles consistently applied (“GAAP”). “Or” is not necessarily exclusive. All interest computation interest shall be based on a 360-day year and actual days elapsed. 
 2. THE LOANS 
 2.1
Commitment. Subject to the terms hereof, Lender will make Advances to Borrower up to the principal amount of the Commitment, before the Commitment Termination Date. The aggregate principal amount of the Advances shall not exceed the Commitment.
Notwithstanding anything in the Loan Documents to the contrary, Lender’s obligation to make any Advances or to lend the undisbursed portion of the Commitment shall terminate on the Commitment Termination Date. Repaid principal of the Advances
may not be re-borrowed. 
 2.2 The Advances. A Note setting forth the specific terms of repayment will evidence each Advance. No Advance will be made
for less than $1,000,000. Absence of a Note evidencing any portion of the Loan shall not impair Borrower’s obligation to repay it to Lender. 
 2.3 Terms of Payment, Repayment. 
 (a) Repayment. Borrower shall pay principal and interest on each Advance from the
date it is made until it has been paid in full, on the terms set forth in the applicable Note. Amounts not paid when due hereunder shall bear interest at the applicable interest rate. If a court of competent jurisdiction determines that Lender has
received payments that, if interest, would exceed the maximum lawfully permitted, Lender will instead apply such money to fees and expenses and then to early prepayment of principal with all applicable pre-payment penalties. 
 (b) ACH. All payments due to Lender must be, at Lender’s option, paid to Lender in cash or through ACH Borrower shall execute and deliver the
ACH Authorization Form substantially in the form of Exhibit E. If the ACH payment arrangement is terminated for any reason, Borrower shall make all payments due to Lender at Lender’s address specified in Section 11.

 (c) Default Rate. While an Event of Default has occurred and is continuing, interest on the Loan shall be increased to the Default
Rate. Lender’s failure to charge or accrue interest at the Default Rate during the existence of a Default shall not be deemed a waiver by Lender of its right or claim thereto. 
 (d) Date. Whenever any payment due under the Loan Documents is due on a day other than a business day, such payment shall be made on the next
succeeding business day, and such extension of time shall be included in the computation of interest or fees, as the case may be. 
 2.4 Fees.
Borrower shall pay to Lender the following: 
 (a) Commitment Fee. The Commitment Fee, which has been previously paid by Borrower, and
shall be applied by Lender to Lender’s Expenses and other Obligations; 
 (b) Late Fee. On demand, a late charge on any
sums due hereunder that are not paid when due, in an amount equal to 2% of the past due amount, payable on demand. 
 (c) Lender’s
Expenses. The payment of all Lender’s Expenses, which may become due to Lender by Borrower hereunder shall be payable by Borrower promptly on demand by Lender. All Lender’s Expenses not paid when due shall bear interest as principal at
the then-applicable rate of interest. 
 3. CONDITIONS OF ADVANCES; PROCEDURE
FOR REQUESTING ADVANCES 
 3.1 Conditions Precedent to any and all Advances. The obligation of Lender
to make any Advances is subject to each and every of the following conditions precedent in form and substance satisfactory to Lender in its sole discretion: (i) this Agreement, a Note evidencing the Advance and all other financing
statements, and other documents required or as specified herein have been duly authorized, executed and delivered; (ii) Lender’s receipt of all items of due diligence requested; (iii) all third party consents required by
Lender; (iv) no Default or Event of Default has occurred and is continuing; (v) delivery of a Notice of Borrowing with respect to the proposed Advance; (vi) Lender’s security interests in the Collateral are
valid and first priority; and (vii) all such other items as Lender may deem necessary or appropriate have been delivered or satisfied. The extension of an Advance prior to the receipt by Lender of any of the foregoing shall not
constitute a waiver by Lender of Borrower’s obligation to deliver such item.  
  

 3 

 3.2 Procedure for Making Advances. For any Advance, Borrower shall provide Lender an irrevocable Notice of
Borrowing at least seven (7) business days prior to the desired Funding Date. Borrower shall execute and deliver to Lender a Note and such other documents and instruments as Lender may reasonably require for each Advance made. Borrower will
hold Lender harmless from any losses on account of any Advance made pursuant to any oral or written request that Lender in good faith believes to have been made by an authorized representative of Borrower (including any employee of Borrower, whether
or not a Responsible Officer) and all such Advances shall be deemed Obligations hereunder for all purposes hereunder. 
 4.
CREATION OF SECURITY INTEREST 
 4.1 Grant of Security Interest. Borrower grants to
Lender a valid, first priority, continuing security interest in all present and future Collateral in order to secure prompt, full, faithful and timely payment and performance of all Obligations. 
 4.2 Inspections. Lender shall have the right upon reasonable prior notice to inspect Borrower’s Books and records, including computer files, and to make
copies, and to test, inspect and appraise the Collateral, in order to verify any matter relating to Borrower or the Collateral. 
 4.3 Authorization to
File Financing Statements. Borrower irrevocably authorizes Lender at any time and from time to time to file in any jurisdiction any financing statements and amendments that: (i) name Collateral as collateral thereunder, regardless of
whether any particular Collateral falls within the scope of the UCC; (ii) contain any other information required by the UCC for sufficiency or filing office acceptance, including organization identification numbers; and
(iii) contain such language as Lender determines helpful in acquiring or preserving rights against third parties. Borrower ratifies any such filings made prior to the date hereof. 
 5. REPRESENTATIONS AND WARRANTIES 
 Borrower represents, warrants and covenants as follows: 
 5.1 Due Organization and Qualification. Borrower is a
corporation duly existing and in good standing under the laws of its state of incorporation and qualified and licensed to do business in, and is in good standing in, any state in which the conduct of its business or its ownership of property
requires that it be so qualified or in which the Collateral is located. 
 5.2 Authority. Borrower has all power, authority and third party consents
necessary to execute, deliver, and perform the Loan Documents. 
 5.3 Disclosure Schedule. All information on the Disclosure Schedule is true, correct
and complete. 
 5.4 Authorization; Enforceability. The execution and delivery hereof, the granting of the security interest in the Collateral, the
incurring of the Loan, the execution and delivery of all Loan Documents and the consummation of the transactions herein and therein contemplated have been duly authorized by all necessary action by Borrower. The Loan Documents constitute legal,
valid and binding obligations of Borrower, enforceable in accordance with their terms, except as enforceability may be limited by bankruptcy or similar laws relating to enforcement of creditors’ rights generally. 
 5.5 Name and Location. Borrower has not done business under any name other than that specified on the signature page hereof. The chief executive office, principal
place of business, and the place where Borrower maintains its records concerning the Collateral are presently located at the address set forth in Section 11. The Collateral is presently located at the addresses set forth in
Section 11 and on the Disclosure Schedule. 
 5.6 Litigation. All actions or proceedings pending by or against Borrower before any court
or administrative agency are set forth on the Disclosure Schedule. 
 5.7 Financial Statements. All financial statements and statements respecting
Collateral that have been or may hereafter be delivered by Borrower to Lender are true, complete and correct in all material respects for the periods indicated. 
 5.8 Solvency. Borrower is solvent and able to pay its debts (including trade debts) as they come due. 
 5.9 Taxes. Borrower has filed
and will file all required tax returns, and has paid and will pay all taxes it owes. 
 5.10 Rights. Borrower possesses and owns all necessary assets,
rights, trademarks, trade names, copyrights, patents, patent rights, franchises and licenses which it needs to conduct of its business as now operated or proposed to be operated. 
  

 4 

 5.11 Full Disclosure. No representation, warranty or other statement made by Borrower in any Loan Document,
certificate or written statement furnished to Lender contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained in such certificates or statements not misleading.

 5.12 Regulated Substances. Borrower complies and will comply with all laws respecting Regulated Substances. 
 5.13 Automatic Reaffirmation. Each Notice of Borrowing will constitute (i) an automatic warranty and representation that there does not exist any
Default and (ii) a reaffirmation as of the date thereof of all of the representations and warranties contained in this Agreement and the Loan Documents. 
 6. AFFIRMATIVE COVENANTS 
 Borrower covenants and agrees that it shall do all of the
following: 
 6.1 Good Standing and Compliance. Borrower shall maintain all licenses, rights and agreements necessary for its operations or business
and comply with all statutes, laws, ordinances and government rules and regulations to which it is subject. 
 6.2 Financial Statements, Reports,
Certificates. Borrower shall deliver to Lender: (i) as soon as prepared, and no later than 30 days after the end of each calendar month, a balance sheet, income statement and cash flow statement covering Borrower’s operations
during such period; (ii) as soon as prepared, but no later than 120 days after the end of the fiscal year, audited financial statements prepared in accordance with GAAP, together with an opinion that such financial statements fairly
present Borrower’s financial condition by an independent public accounting firm reasonably acceptable to Lender; (iii) immediately upon notice thereof, a report of any legal or administrative action pending or threatened against
Borrower; and (iv) such other financial information as Lender may reasonably request from time to time. Financial statements delivered pursuant to subsections (i) and (ii) above shall be accompanied by a
certificate signed by a Responsible Officer (each an “Officer’s Certificate”) in the form of Exhibit F. 
 6.3 Notice
of Defaults. Upon any Default or Event of Default, an Officer’s Certificate setting forth the facts relating to or giving rise thereto, and the Borrower’s proposed action with respect thereto. 
 6.4 Use; Maintenance. Borrower, at its expense, shall (i) maintain the Collateral in good condition, reasonable wear and tear excepted, and will
comply in all material respects with all laws, rules and regulations regarding use and operation of the Collateral and (ii) repair or replace any lost or damaged Collateral. 
 6.5 Insurance. Borrower, at its own expense, shall maintain insurance in amounts and coverages reasonably satisfactory to Lender. Each insurance policy shall: (i) name Lender loss payee or
additional insured, as appropriate, (ii) provide for insurer’s waiver of its right of subrogation against Lender and Borrower, (iii) provide that such insurance shall not be invalidated by any action of, or breach of
warranty by, Borrower and waive set-off, counterclaim or offset against Lender, (iv) be primary without a right of contribution of Lender’s insurance, if any, or any obligation on the part of Lender to pay premiums of Borrower, and
(v) require the insurer to give Lender at least 30 days prior written notice of cancellation. Borrower shall furnish all certificates of insurance required by Lender. 
 6.6 Loss Proceeds. So long as no Default has occurred, any proceeds of insurance on or condemnation of Collateral shall, at Borrower’s election and so long as Lender’s security interest in such
proceeds remains first priority, be used either to repair or replace such Collateral. 
 6.7 Further Assurances. At any time and from time to time,
Borrower shall execute and deliver such further instruments and take such further action as Lender may reasonably request to effect the intent and purposes hereof, to perfect and continue perfected and of first priority Lender’s security
interests in the Collateral, and to effect and maintain ACH payment arrangements. 
 6.8 Collateral: Accounts. Borrower hereby authorizes Lender to at
any time notify account debtors that Lender has a security interest in Accounts and direct such account debtors to make all payments directly to Lender or to a lock box designated by Lender. Borrower irrevocably makes, constitutes and appoints
Lender as Borrower’s true and lawful attorney-in-fact to endorse Borrower’s name on any checks, notes, drafts or any other payment or proceeds of Collateral which come into Lender’s possession or control. Lender has the right, in
Lender’s or Borrower’s name, to verify the validity, amount or any other matter relating to any Collateral. 
 7.
NEGATIVE COVENANTS 
 Borrower will not do any of the following: 
 7.1 Location of Collateral. Change its chief executive office or principal place of business or remove, except in the ordinary course of Borrower’s business,
the Collateral or Borrower’s Books from the premises listed in Section 11 without giving 30 days prior written notice to Lender. 
  

 5 

 7.2 Extraordinary Transactions. Enter into any transaction which would result in (i) the sale or other
disposition of a substantial portion of Borrower’s assets, or (ii) a material change to Borrower’s corporate structure or a material deviation from Borrower’s business operations as now conducted; provided however,
Borrower may (i) sell inventory in the ordinary course of Borrower’s business, (ii) dispose of obsolete of worn out assets, (iii) authorize, issue and sell shares of capital stock to its investors in connection with raising
capital for the Borrower, or (iv) consummate, and take all steps necessary to assure the success of, the pending acquisition of Source Enterprise Consulting Limited. In addition to, and without limitation of the foregoing, Borrower may cause or
enter into a transaction which constitutes a Liquidation Event provided Borrower complies with Section 3(b) of the Note (Mandatory Prepayment). 
 7.3 Restructure. Make any material change in Borrower’s financial structure or business operations (other than through the sale of preferred stock to equity investors which does not result in a change of
control of Borrower); or suspend operation of Borrower’s business. 
 7.4 Liens. Create, incur, assume or suffer to exist any Lien of any kind
with respect to any of its property, whether now owned or hereafter acquired, except for Permitted Liens. 
 7.5 Distributions. Pay any dividends or
distributions, or redeem or purchase, any capital stock other than repurchases of capital stock at cost from employees or other service providers pursuant to agreements under which the Borrower has the option to repurchase such stock upon the
occurrence of certain events, such as the termination of employment of service and as approved by Borrower’s Board of Directors. 
 7.6 Transactions
with Affiliates. Directly or indirectly enter into any transaction with any affiliate not both in the ordinary course of Borrower’s business and on terms no less favorable to Borrower than would be obtained in an arm’s length
transaction with a non-affiliated entity. 
 7.7 Compliance. Become an “investment company” under the Investment Company Act of 1940 or
extend credit to purchase or carry margin stock; fail to meet the minimum funding requirements of ERISA; permit a Reportable Event or Prohibited Transaction, as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or
violate any other law or regulation, or permit any of its subsidiaries to do so. 
 7.8 UCC Effectiveness. Change its name, jurisdiction of
organization, or take any other action that could render Lender’s financing statements misleading, without giving Lender 30 days advance written notice. 
 7.9 Deposit and Securities Accounts. Maintain any deposit accounts or accounts holding securities owned by Borrower except accounts in which Lender has obtained a perfected first priority security interest. 
 8. EVENTS OF DEFAULT 
 Any one or more of the following shall constitute an Event of Default by Borrower hereunder: 
 8.1 Payment. Borrower
fails to pay within five (5) days of when due and payable in accordance with the Loan Documents any portion of the Obligations, or cancels an ACH payment or transfer Lender has initiated in conformity with the terms hereof. During such five
(5) day period, the failure to cure the payment default is not an Event of Default. 
 8.2 Certain Covenant Defaults. Borrower fails to perform
any obligation under Section 6.5 or 6.6, or violates any of the covenants contained in Section 7. 
 8.3 Other Covenant
Defaults. Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant, or agreement contained in this Agreement, in any of the other Loan Documents, or in any other present or future agreement between
Borrower and Lender and has failed to cure such failure within 15 days after its occurrence. 
  

 6 

 8.4 Attachment. Any material portion of Borrower’s assets is attached, seized, subjected to a government
levy, lien, writ or distress warrant, or comes into the possession of any trustee or receiver and the same is not returned, removed, waived, stayed, discharged or rescinded within 10 days. 
 8.5 Other Agreements. There is a default in any material agreement to which Borrower is a party resulting in a right by a third party, whether or not exercised,
to accelerate the maturity of any Indebtedness. 
 8.6 Judgments. One or more judgments for an aggregate of at least $50,000 is rendered
against Borrower and remains unsatisfied and unstayed for more than 30 days. 
 8.7 Injunction. Borrower is enjoined, restrained, or in any way
prevented by court order from continuing to conduct any material part of its business affairs, or if a judgment or other claim becomes a Lien upon any material portion of Borrower’s assets. 
 8.8 Misrepresentation. Any representation, statement, or report made to Lender by Borrower or any Responsible Officer or authorized officer, employee, agent, or
director of Borrower purporting to speak on behalf of Borrower was false or misleading when made. 
 8.9 Enforceability. Lender’s ability
to enforce its rights against Borrower or any Collateral is impaired in any material respect, or Borrower asserts that any Loan Document is not a legal, valid and binding obligation of Borrower enforceable in accordance with its terms, or any
subordinating creditor breaches or purports to rescind or terminate its agreement with Lender. 
 8.10 Involuntary Bankruptcy. An involuntary
bankruptcy case remains undismissed or unstayed for 30 days or, if earlier, an order granting the relief sought is entered. 
 8.11 Voluntary
Bankruptcy or Insolvency. Borrower commences a voluntary case under applicable bankruptcy or insolvency law, consents to the entry of an order for relief in an involuntary case under any such law, or consents or is subject to the appointment of
or taking possession by a receiver, liquidator, assignee, trustee, custodian or other similar official of Borrower or any substantial part of its property, or makes an assignment for the benefit of creditors, or fails generally or admits in writing
to its inability to pay its debts as they become due, or takes any corporate action in furtherance of any of the foregoing. 
 8.12 Merger without
Assumption. Borrower is acquired by or merges into any other business entity with respect to any merger that is not a Liquidation Event, and such acquirer or resulting entity either: (i) does not provide an unconditional, unlimited
guaranty of the Obligations in form and substance satisfactory to Lender or (ii) is of a credit quality unacceptable to Lender. 
 9. LENDER’S RIGHTS AND REMEDIES 
 9.1 Rights and
Remedies. Upon the occurrence and continuance of any Event of Default, Lender may, at its election, without notice of election and without demand, do any one or more of the following, all of which are authorized by Borrower:
(i) accelerate and declare the Loan and all Obligations immediately due and payable; (ii) make such payments and do such acts as Lender considers necessary or reasonable to protect its security interest in the Collateral,
with such amounts becoming Obligations bearing interest at the Default Rate; (iii) exercise any and all other rights and remedies available under the UCC or otherwise; (iv) require Borrower to assemble the Collateral at such
places as Lender may designate; (v) enter premises where any Collateral is located, take, maintain possession of, or render unusable the Collateral or any part of it; (vi) without notice to Borrower, set off and recoup
against any portion of the Obligations; (vii) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral, in connection with which Borrower hereby grants Lender a license to use
without charge Borrower’s premises, labels, name, trademarks, and other property necessary to complete, advertise, and sell any Collateral; and (viii) sell the Collateral at one or more public or private sales. 
 9.2 Power of Attorney in Respect of the Collateral. Borrower hereby irrevocably appoints Lender (which appointment is coupled with an interest) its true and
lawful attorney in fact with full power of substitution, for it and in its name to, upon an Event of Default: (i) ask, demand, collect, receive, sue for, compound and give acquittance for any and all Collateral with full power to settle,
adjust or compromise any claim, (ii) receive payment of and endorse the name of Borrower on any items of Collateral, (iii) make all demands, consents and waivers, or take any other action with respect to, the Collateral,
(iv) file any claim or take any other action, in Lender’s or Borrower’s name, which Lender may reasonably deem appropriate to protect its rights in the Collateral, or (v) otherwise act with respect to the Collateral
as though Lender were its outright owner. 
 9.3 Charges. If Borrower fails to pay any amounts required hereunder to be paid by Borrower to any
third party, Lender may at its option pay any part thereof and any amounts so paid including Lender’s Expenses incurred shall become Obligations, immediately due and payable, bearing interest at the Default Rate, and secured by the Collateral.
Any such payments by Lender shall not constitute an agreement to make similar payments or a waiver of any Event of Default. 
  

 7 

 9.4 Remedies Cumulative. Lender’s rights and remedies under the Loan Documents and all other agreements with
Borrower shall be cumulative. Lender shall have all other rights and remedies as provided under the UCC, by law, or in equity. No exercise by Lender of one right or remedy shall be deemed an election, and no waiver by Lender of any Event of Default
shall be deemed a continuing waiver. No delay by Lender shall constitute a waiver, election, or acquiescence. 
 9.5 Application of Collateral
Proceeds. Lender will apply proceeds of sale of any Collateral, to the extent actually received in cash, in the manner and order it determines in its sole discretion, and as prescribed by applicable law. 
 10. WAIVERS; INDEMNIFICATION 
 10.1 Waivers. Without limiting the generality of the other waivers made by Borrower herein, to the maximum extent permitted under applicable law, Borrower hereby irrevocably waives all of the following: (i) any right to
assert against Lender as a defense, counterclaim, set-off or crossclaim, any defense (legal or equitable), set-off, counterclaim, crossclaim and/or other claim (a) which Borrower may now or at any time hereafter have against any party
liable to Lender in any way or manner, or (b) arising directly or indirectly from the present or future lack of perfection, sufficiency, validity and/or enforceability of any Loan Document, or any security interest;
(ii) presentment, demand and notice of presentment, dishonor, notice of intent to accelerate, protest, default, nonpayment, maturity, release, compromise, settlement, extension or renewal of any or all accounts, documents, instruments,
chattel paper and guaranties at any time held by Lender on which Borrower may in any way be liable and hereby ratifies and confirms whatever Lender may do in this regard; (iii) the benefit of all marshalling, valuation, appraisal and
exemption laws; (iv) the right, if any, to require Lender to (a) proceed against any person liable for any of the Obligations as a condition to or before proceeding hereunder; or (b) foreclose upon, sell or otherwise realize
upon or collect or apply any other property, real or personal, securing any of the Obligations, as a condition to, or before proceeding hereunder; and (v) any demand for possession before the commencement of any suit or action to recover
possession of Collateral. 
 10.2 Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or responsible for:
(i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause other than Lender’s gross negligence; (iii) any diminution in the value
thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender will have no
responsibility for taking any steps to preserve rights against any parties respecting any Collateral. Lender’s powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such
powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor
under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by Borrower only for its purposes and for such period as Lender, at its
sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from Borrower. 
 10.3
Indemnification. Borrower shall, on an after tax basis, defend, indemnify, and hold Lender and each of its officers, directors, employees, counsel, partners, 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 or disbursements (including Lender’s Expenses and reasonable
attorney’s fees and the allocated cost of in-house counsel) of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and administration of this Agreement and any other Loan Documents, or the
transactions contemplated hereby and thereby, with respect to noncompliance with laws or regulations respecting Regulated Substances, government secrecy or technology export, or any Lien not created by Lender or right of another against any
Collateral, even if the Collateral is foreclosed upon or sold pursuant hereto, and with respect to any investigation, litigation or proceeding before any agency, court or other governmental authority relating to this Agreement or the Advances 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 Borrower shall have no
obligation hereunder to any Indemnified Person with respect to Indemnified Liabilities arising from the gross negligence or willful misconduct of such Indemnified Person. The obligations in this Section 10.3 shall survive the Term. At the
election of any Indemnified Person, Borrower shall defend such Indemnified Person using legal counsel satisfactory to such Indemnified Person, at the sole cost and expense of Borrower. All amounts owing under this Section 10.3 shall be paid
within 30 days after written demand. 
  

 8 

 11. NOTICES 
 All notices shall be in writing and personally delivered or sent by certified mail, postage prepaid, return receipt requested, or by confirmed facsimile, at the respective addresses set forth below: 
  

			
	If to Borrower:	  	If to Lender:
		
	GlassHouse Technologies, Inc.	  	Lighthouse Capital Partners V, LP
	200 Crossing Boulevard.	  	500 Drake’s Landing Road
	Framingham, Massachusetts 01720	  	Greenbrae, California 94904
	Attention: Chief Executive Officer	  	Attention: Contract Administrator
	FAX: (508) 879-7319	  	FAX: (415) 925-3387

 12. GENERAL PROVISIONS 
 12.1 Successors and Assigns. This Agreement shall bind and inure to the benefit of the parties’ respective successors and permitted assigns. Borrower may not
assign any rights hereunder without Lender’s prior written consent, which consent may be granted or withheld in Lender’s sole discretion. Lender shall have the right without the consent of or notice to Borrower to sell, transfer,
negotiate, or grant participations in all or any part of any Loan Document. 
 12.2 Time of Essence. Time is of the essence for the performance
of all Obligations. 
 12.3 Severability of Provisions. Each provision hereof shall be severable from every other provision in determining its legal
enforceability. 
 12.4 Entire Agreement. This Agreement and each of the other Loan Documents dated as of the date hereof, taken together,
constitute and contain the entire agreement between Borrower and Lender with respect to their subject matter and supersede any and all prior agreements, negotiations, correspondence, understandings and communications between the parties, whether
written or oral. This Agreement is the result of negotiations between and has been reviewed by the Borrower and Lender as of the date hereof and their respective counsel; accordingly, this Agreement shall be deemed to be the
product of the parties hereto, and no ambiguity shall be construed in favor of or against Borrower or Lender. This Agreement may only be modified with the written consent of Lender. Any waiver or consent with respect to any provision of the Loan
Documents shall be effective only in the specific instance and for the specific purpose for which it was given. No notice to or demand on Borrower in any one case shall entitle Borrower to any other or further notice or demand in similar or other
circumstances. 
 12.5 Reliance by Lender. All covenants, agreements, representations and warranties made herein by Borrower shall,
notwithstanding any investigation by Lender, be deemed to be material to and to have been relied upon by Lender. 
 12.6 No Set-Offs by
Borrower. All sums payable by Borrower pursuant to this Agreement or any of the other Loan Documents shall be payable without notice or demand and shall be payable in United States Dollars without set-off or reduction of any manner
whatsoever. 
 12.7 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an
original, and all of which, when taken together, shall constitute one and the same original instrument. 
 12.8 Survival. All covenants,
representations and warranties made in this Agreement shall continue in full force and effect so long as any Obligations remain outstanding. 
 12.9 No
Original Issue Discount. Borrower and Lender acknowledge and agree that the Warrant is part of an investment unit within the meaning of Section 1273(c)(2) of the Internal Revenue Code, which includes the Loan. Borrower and Lender further
agree as between them, that the fair market value of the Warrant is $100 and that, pursuant to Treas. Reg. § 1.1273-2(h), $100 of the issue price of the investment unit will be allocable to the Warrant and the balance shall be allocable to
the Loans. Borrower and Lender agree to prepare their federal income tax returns in a manner consistent with the foregoing and, pursuant to Treas. Reg. § 1.1273, the original issue discount on the Loan shall be considered to be zero.

 12.10 Relationship of Parties. The relationship between Borrower and Lender is, and at all times shall remain, solely that of a borrower and
lender. Lender is not a partner or joint venturer of Borrower; nor shall Lender under any circumstances be deemed to be in a relationship of confidence or trust or have a fiduciary relationship with Borrower or any of its affiliates, or to owe any
fiduciary duty to Borrower or any of its affiliates. Lender does not undertake or assume any responsibility or duty to Borrower or any of its affiliates to select, review, inspect, supervise, pass judgment upon or otherwise inform any of them of any
matter in connection with its or their property, the Loans, any Collateral or the operations of Borrower or any of its affiliates. Borrower and each of its affiliates shall rely entirely on their own judgment with respect to such matters, and any
review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed by Lender in connection with such matters is solely for the protection of Lender and neither Borrower nor any affiliate is entitled to rely thereon.

  

 9 

 12.11 Choice of Law and Venue; Jury Trial Waiver. THIS AGREEMENT SHALL
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF
THE STATE OF CALIFORNIA, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
LAW. EACH OF BORROWER AND LENDER HEREBY SUBMITS TO THE EXCLUSIVE
JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN THE CITY AND
COUNTY OF SAN FRANCISCO, STATE OF CALIFORNIA. BORROWER AND LENDER HEREBY
WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR
CAUSE OF ACTION BASED UPON OR ARISING OUT OF ANY OF THE
LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT
CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW
OR STATUTORY CLAIMS. EACH PARTY FURTHER WAIVES ANY RIGHT TO CONSOLIDATE
ANY ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY
OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT
BEEN WAIVED. 
  

 10 

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

									
	GLASSHOUSE TECHNOLOGIES, INC.	 		  	LIGHTHOUSE CAPITAL PARTNERS V, L.P.
					
		 		 		  	By:	 	LIGHTHOUSE MANAGEMENT PARTNERS V, L.L.C., its general partner
					
	By:	 	  
	 		  	By:	 	  

	Name:	 	  
	 		  	Name:	 	  

	Title:	 	  
	 		  	Title:	 	  

  

			
	Exhibit A	  	Collateral Description
	Exhibit B	  	Form of Note
	Exhibit C	  	Form of Preferred Stock Warrant
	Exhibit D	  	Form of Notice of Borrowing
	Exhibit E	  	Form of Incumbency Certificate
	Exhibit F	  	Form of Officers Certificate
	Exhibit G	  	ACH Authorization
	Exhibit H	  	Form of Negative Pledge Agreement
	Exhibit I	  	Control Agreement
	Schedule 1	  	Disclosure Schedule

  

 11 

 EXHIBIT A 
 COLLATERAL 
 This FINANCING STATEMENT and SECURITY AGREEMENT covers all of
Debtor’s interests in all of the following types or items of property, wherever located and whether now owned or hereafter acquired, and Debtor hereby grants Secured Party a security interest therein as collateral for the payment and
performance of all present and future indebtedness, liabilities, guarantees and obligations of Debtor to Secured Party, howsoever arising. Debtor agrees that said security interest may be enforced by Secured Party in accordance with the terms of all
security and other agreements between Secured Party and Debtor, the California Uniform Commercial Code, or both, and that this document shall be fully effective as a security agreement, even if there is no other security or other agreement between
Secured Party or Debtor: 
 All assets of the Debtor; all personal property of Debtor; 
 All “accounts”, “general intangibles”, “chattel paper”, “contract rights”, “documents”, “instruments”, “deposit accounts”, “inventory”,
“farm products”, “fixtures” and “equipment”, as such terms are defined in Division 9 of the California Uniform Commercial Code in effect on the date hereof; 
 All general intangibles of every kind, including without limitation, federal, state and local tax refunds and claims of all kinds; all rights as a licensee or any kind; all customer lists, telephone numbers, and
purchase orders, and all rights to purchase, lease sell, or otherwise acquire or deal with real or personal property and all rights relating thereto; 
 All
returned and repossessed goods and all rights as a seller of goods; all collateral securing any of the foregoing; all deposit accounts, special and general, whether on deposit with Secured Party or others; 
 All life and other insurance policies, claims in contract, tort or otherwise, and all judgments now or hereafter arising therefrom; 
 All right, title and interest of Debtor, and all of Debtor’s rights, remedies, security and liens, in, to and in respect of all accounts and other collateral,
including, without limitation, rights of stoppage in transit, replevin, repossession and reclamation and other rights and remedies of an unpaid vendor, lienor or secured party, and all guarantees and other contracts of suretyship with respect to any
accounts and other collateral, and all deposits and other security for any accounts and other collateral, and all credit and other insurance; 
 All notes,
drafts, letters of credit, contract rights, and things in action; all drawings, specifications, blueprints and catalogs; and all raw materials, work in process, materials used or consumed in Debtor’s business, goods, finished goods, returned
goods and all other goods and inventory of whatsoever kind or nature, any and all wrapping, packaging, advertising and shipping materials, and all documents relating thereto, and all labels and other devices, names and marks affixed or to be affixed
thereto for purposes of selling or identifying the same or the seller or manufacturer thereof; 
 All inventory wherever located; all present and future
claims against any supplier of any of the foregoing, including claims for defective goods or overpayments to or undershipments by suppliers; all proceeds arising from the lease or rental of any of the foregoing; INVENTORY RETURNED BY DEBTOR TO ITS
SUPPLIERS SHALL REMAIN SUBJECT TO SECURED PARTY’S SECURITY INTEREST; 
 All equipment and fixtures, NONE OF WHICH THE DEBTOR IS AUTHORIZED TO SELL,
LEASE OR OTHERWISE DISPOSE OF WITHOUT THE WRITTEN CONSENT OF SECURED PARTY, including without limitation all machinery, machine tools, motors, controls, parts, vehicles, workstations, tools, dies, jigs, furniture, furnishings and fixtures; and all
attachments, accessories, accessions and property now or hereafter affixed to or used in connection with any of the foregoing, and all substitutions and replacements for any of the foregoing; all warranty and other claims against any vendor or
lessor of any of the foregoing; 
 All investment property; 
 All books, records, ledger cards, computer data and programs and other property and general intangibles at any time evidencing or relating to any or all of the foregoing; and 
 All cash and non-cash products and proceeds of any of the foregoing, in whatever form, including proceeds in the form of inventory, equipment or any other form of personal property, including proceeds of proceeds and
proceeds of insurance, and all claims by Debtor against third parties for loss or damage to, or destruction of, or otherwise relating to, any or all of the foregoing. 
  

 1 

 Notwithstanding the foregoing, the Collateral shall not be deemed to include any of the Borrower’s intellectual
property, including, without limitation, the following: 
 (a) Any and all copyright rights, copyright applications, copyright registration and like
protection in each work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret, now or hereafter existing, created, acquired or held (collectively, the
“Copyrights”); 
 (b) Any and all trade secrets, and any and all intellectual property rights in computer software and computer software
products now or hereafter existing, created, acquired or held; 
 (c) Any and all design rights which may be available to Borrower now or hereafter existing,
created, acquired or held; 
 (d) All patents, patent applications and like protections, including, without limitation, improvements, divisions,
continuations, renewals, reissues, extensions and continuations-in-part of the same, including, without limitation, the patents and patent applications (collectively, the “Patents”); 
 (e) Any trademark and servicemark rights, whether registered or not, applications to register and registrations of the same and like protections, and the entire goodwill
of the business of Borrower connected with and symbolized by such trademarks (collectively, the “Trademarks”); 
 (f) Any and all licenses
or other rights to use any of the Copyrights, Patents or Trademarks; and 
 (g) Any and all amendments, extensions, renewals and extensions of any of the
Copyrights, Patents or Trademarks. 
 NOTICE - PURSUANT TO AN AGREEMENT BETWEEN DEBTOR AND SECURED PARTY, DEBTOR HAS AGREED NOT TO FURTHER ENCUMBER THE
COLLATERAL DESCRIBED HEREIN, THE FURTHER ENCUMBERING OF WHICH MAY CONSTITUTE THE TORTIOUS INTERFERENCE WITH SECURED PARTY’S RIGHTS BY SUCH ENCUMBRANCER. IN THE EVENT THAT ANY ENTITY IS GRANTED A SECURITY INTEREST IN DEBTOR’S ACCOUNTS,
CHATTEL PAPER, GENERAL INTANGIBLES OR OTHER ASSETS CONTRARY TO THE ABOVE, THE SECURED PARTY ASSERTS A CLAIM TO ANY PROCEEDS THEREOF RECEIVED BY SUCH ENTITY. 
  

							
	“DEBTOR”	 	“SECURED PARTY”
		
	GLASSHOUSE TECHNOLOGIES, INC.,	 	LIGHTHOUSE CAPITAL PARTNERS V, L.P.
	a Delaware corporation	 	BY:	 	LIGHTHOUSE MANAGEMENT PARTNERS V, L.L.C.,
		 		 		 	its general partner
				
	By:.	 	  
	 	By:	 	  

	Name:	 	  
	 	Name:	 	  

	Title:	 	  
	 	Title:	 	  

  

 2 

 EXHIBIT B 
 [                    ] 
 SECURED PROMISSORY NOTE 
 This SECURED
PROMISSORY NOTE (this “Note”) is made                     , 2004, by
GLASSHOUSE TECHNOLOGIES, INC. (‘Borrower”) in favor of LIGHTHOUSE CAPITAL PARTNERS V, L.P. (collectively with its
assigns, “Lender”), and its assigns (collectively, “Holder”) with reference to the following: 
 FOR
VALUE RECEIVED, Borrower promises to pay in lawful money of the United States, to the order of Lender, at 500 Drake's Landing Road, Greenbrae, California 94904, or such other place as Lender may from time to time
designate (‘Lender's Office”), the sum of $                     plus all other monies advanced under or owing on account of
the Advance evidenced hereby under that certain Loan and Security Agreement No. 4091 between Borrower and Lender dated June 30, 2004 (the “Loan Agreement”), including interest on the unpaid balance of the Advance at the
Basic Rate accruing from the Funding Date, and all other amounts due or to become due hereunder according to the terms hereof. Capitalized terms used and not otherwise defined herein are defined in the Loan Agreement. 
 “Basic Rate” for this Note means 7.0%. 
 “Final
Payment” means 7.5% of the original principal amount of the Note. 
 “Loan Commencement Date” for this Note means July 1,2005.

 “Maturity Date” means June 30,2008, or if earlier, the date of prepayment under the Note. 
 “Payment Factor” for this Note means 3.0913%. 
 “Repayment Period” means the period beginning on the Loan Commencement Date and continuing for 36 calendar months. 
 1.
Repayment. Borrower shall repay the principal and interest thereupon will be paid as follows: 
 a. Scheduled Payments. From and
after the Loan Commencement Date, Borrower shall make amortizing payments of principal and interest in advance (collectively, “Scheduled Payments”) on the first day of each month during the Repayment Period (each a “Payment
Date”), in an amount equal to the Payment Factor multiplied by the original principal amount of the Advance. In addition, all unpaid principal and accrued interest, together with all Lenders Expenses associated with the Advance and
this Note shall be due and payable in full on the Maturity Date. 
 b. Interim Payments. In addition to the Scheduled Payments,
Borrower shall pay to Lender, monthly in advance, an amount (the “Interim Payment”) equal to accrued interest on the aggregate principal amount of this Note calculated at the Basic Rate from the Funding Date (and thereafter
recalculated on the first business day of each calendar month during which an Interim Payment is due), until the Loan Commencement Date with respect to this Note. 
 c. Final Payment. On the Maturity Date, Borrower shall pay, in addition to all unpaid principal and interest due hereunder, the Final Payment. 
 2. Interest. Interest not paid when due will, to the maximum extent permitted under applicable law, become part of principal, at Lender's option,
and thereafter bear like interest as principal. All Obligations due not paid when due shall bear interest at the Default Rate unless waived in writing by Lender. All amounts paid hereunder including principal, interest or fees and expenses will be
applied in Lender's discretion and as provided in the Loan Agreement. 
 3. Prepayment. 
 a. Mandatory Prepayment Upon Acceleration. If this Note is accelerated following the occurrence of an Event of Default or otherwise, then Borrower
shall immediately pay to Lender (i) all unpaid Scheduled Payments due before the date of prepayment, (ii) the outstanding principal amount of the Note, and (iv) all other sums, if any, that shall have become due
and payable hereunder with respect to this Note. 
  

 1 

 b. Mandatory Prepayment Upon a Liquidation Event. If a Liquidation Event shall occur, then
Borrower shall within sixty (60) days of such Liquidation Event pay to Lender (i) all unpaid Interim Payments and/or Scheduled Payments due before the date of prepayment, (ii) the outstanding principal amount of the Note and
any unpaid accrued interest, (iii) the Final Payment, and (iv) all other sums, if any, that shall have become due and payable hereunder with respect to this Note. 
 c. Voluntary Prepayment. Borrower may voluntarily prepay all or any part of the principal due under this Note, provided that each of the
following conditions is satisfied: Borrower pays to Lender (i) all unpaid Scheduled Payments due before the date of prepayment, (ii) the outstanding principal amount of this Note and any unpaid accrued interest with respect to the
amount being prepaid (iii) the Final Payment with respect to the principal being prepaid, and (iv) all other sums, if any, that shall have become due and payable hereunder with respect to this Note to the extent allocable to the amount
being prepaid, and all such other amounts if such prepayment represents the outstanding principal balance hereunder. 
 d. No Other
Prepayment. Borrower may not prepay this Note except described herein. 
 4. Collateral. This Note is secured by the Collateral. 
 5. Waivers. Borrower, and all guarantors and endorsers of this Note, regardless of the time, order or place of signing, hereby waive notice, demand, presentment,
protest, and notices of every kind, presentment for the purpose of accelerating maturity, diligence in collection, and, to the fullest extent permitted by law, all rights to plead any statute of limitations as a defense to any action on this
Note. 
 6. Choice of Law; Venue. THIS NOTE SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE
OF CALIFORNIA, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. EACH
OF BORROWER AND LENDER HEREBY SUBMITS TO THE EXCLUSIVE JURISDICTION OF
THE STATE AND FEDERAL COURTS LOCATED IN THE CITY AND COUNTY OF
SAN FRANCISCO, STATE OF CALIFORNIA. BORROWER AND LENDER EACH HEREBY WAIVE
THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE
OF ACTION BASED UPON OR ARISING OUT OF THIS NOTE. EACH PARTY
IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED.

 7. Miscellaneous. THIS NOTE MAY BE MODIFIED ONLY
BY A WRITING SIGNED BY BORROWER AND LENDER. Each provision here of is severable from every other provision hereof and of the Loan
Agreement when determining its legal enforceability. Sections and subsections are titled for convenience, and not for construction. “Hereof,” “herein,” “hereunder,” and similar words refer to this Note in its entirety.
“Or” is not necessarily exclusive. “Including” is not limiting. The terms and conditions hereof inure to the benefit ofandare binding upon the parties’ respective permitted successors and assigns. This Note is subject to all
the terms and conditions of the Loan Agreement. 
 IN WITNESS WHEREOF, Borrower has caused this Note to be
executed by a duly authorized officer as of the day and year first above written. 
  

			
	GLASSHOUSE TECHNOLOGIES, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 2 

 EXHIBIT C 
 WARRANTS 
 THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “7933 ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD OR TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR SOME OTHER
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS IS AVAILABLE WITH RESPECT THERETO. 
 PREFERRED STOCK PURCHASE
WARRANT 
  

			
	Warrant No.                    	 	Number of Shares: Up to 176,470
		 	Series C Convertible Participating Preferred Stock

 GLASSHOUSE TECHNOLOGIES, INC. 
 Effective as of June 30,2004 
 Void after
June 30, 2011 
 1. Issuance. This Preferred Stock Purchase Warrant (the “Warrant”) is issued to
LIGHTHOUSE CAPITAL PARTNERS V, L.P. by GLASSHOUSE TECHNOLOGIES, INC., a Delaware corporation (hereinafter with its successors called the
“Company”). 
 2. Purchase Price; Number of Shares. The registered holder of this Warrant (the
“Holder”), commencing on the date hereof, is entitled upon surrender of this Warrant with the subscription form annexed hereto duly executed, at the principal office of the Company, to purchase from the Company, at a
price per share of $0.85 (the “Purchase Price”), (a) 88,235 fully paid and nonassessable shares of the Company’s Series C Convertible Participating Preferred Stock (the “Exercise
Quantity”), $0.001 par value (the “Preferred Stock”). 
 (b) The Exercise Quantity
shall automatically increase by that number of shares of Preferred Stock as is equal to (i) five (5%) percent of the amount by which the Aggregate Advances under the Loan Agreement exceed $3,000,000, divided by (ii) the Purchase
Price. 
 In addition to other terms which may be defined herein, the following terms, as used in this Warrant, shall have the following meanings:

 (i) “Aggregate Advances” means the aggregate dollar amount of all Advances made under the Loan Agreement, whether such
Advances are outstanding or prepaid, at the time of any scheduled adjustment to the Exercise Quantity. 
 (ii) “Loan
Agreement” means that certain Loan and Security Agreement No. 4091 dated June 30, 2004 between the Company and Lighthouse Capital Partners V, L.P.. 
 Any term not defined herein shall have the meaning as set forth in the Loan Agreement. 
 Until such time as this Warrant is exercised in full or
expires, the Purchase Price and the securities issuable upon exercise of this Warrant are subject to adjustment as hereinafter provided. The person or persons in whose name or names any certificate representing shares of Preferred Stock is issued
hereunder shall be deemed to have become the holder of record of the shares represented thereby as at the close of business on the date this Warrant is exercised with respect to such shares, whether or not the transfer books of the Company shall be
closed. 
  

 1. 

 3. Payment of Purchase Price. The Purchase Price may be paid (i) in cash or by check,
(ii) by the surrender by the Holder to the Company of any promissory notes or other obligations issued by the Company, with all such notes and obligations so surrendered being credited against the Purchase Price in an amount equal to the
principal amount thereof plus accrued interest to the date of surrender, or (iii) by any combination of the foregoing. 
 4.
Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares of Preferred Stock equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such
portion to the Company, with the net issue election notice annexed hereto duly executed, at the principal office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Preferred Stock
as is computed using the following formula: 
  

									
		 	X=	  	Y(A–B)	  		  	
		 		  	A	  		  	

  

					
	where:	  	X =	  	the number of shares of Preferred Stock to be issued to the Holder pursuant to this Section 4.
			
		  	Y =	  	the number of shares of Preferred Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 4.
			
		  	A =	  	the Fair Market Value (defined below) of one share of Preferred Stock, as determined at the time the net issue election is made pursuant to this Section 4.
			
		  	B =	  	the Purchase Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 4.

 “Fair Market Value” of a share of Preferred Stock (or fully paid and
nonassessable shares of the Company’s common stock, $0.001 par value (the “Common Stock”) if the Preferred Stock has been automatically converted into Common Stock) as of the date that the net issue election is made (the
“Determination Date”) shall mean: 
 (i) If the net issue election is made in connection with and contingent upon the
closing of the sale of the Company’s Common Stock to the public in a public offering pursuant to a Registration Statement under the 1933 Act (a “Public Offering”), and if the Company’s Registration Statement relating to
such Public Offering (“Registration Statement”) has been declared effective by the Securities and Exchange Commission, then the initial “Price to Public” specified in the final prospectus with respect to such offering
multiplied by the number of shares of Common Stock into which each share of Preferred Stock is then convertible. 
 (ii) If the net
issue election is not made in connection with and contingent upon a Public Offering, then as follows: 
 (a) If traded on a securities
exchange or the Nasdaq National Market, the fair market value of the Common Stock shall be deemed to be the average of the closing or last reported sale prices of the Common Stock on such exchange or market over the five day period ending five
trading days prior to the Determination Date, and the fair market value of the Preferred Stock shall be deemed to be such fair market value of the Common Stock multiplied by the number of shares of Common Stock into which each share of Preferred
Stock is then convertible; 
 (b) If otherwise traded in an over-the-counter market, the fair market value of the Common Stock shall
be deemed to be the average of the closing ask prices of the Common Stock over the five day period ending five trading days prior to the Determination Date, and the fair market value of the Preferred Stock shall be deemed to be such fair market
value of the Common Stock multiplied by the number of shares of Common Stock into which each share of Preferred Stock is then convertible; and 
  

 2. 

 (c) If there is no public market for the Common Stock, then fair market value shall be determined
in good faith by the Company’s Board of Directors. 
 5. Partial Exercise. This Warrant may be exercised in part, and the Holder
shall be entitled to receive a new warrant, which shall be dated as of the date of this Warrant, covering the number of shares in respect of which this Warrant shall not have been exercised. 
 6. Fractional Shares. In no event shall any fractional share of Preferred Stock be issued upon any exercise of this Warrant. If, upon exercise of
this Warrant in its entirety, the Holder would, except as provided in this Section 6, be entitled to receive a fractional share of Preferred Stock, then the Company shall issue the next higher number of full shares of Preferred Stock,
issuing a full share with respect to such fractional share. 
 7. Expiration Date; Automatic Exercise. This Warrant shall
expire at the earliest to occur of (i) the close of business on June 30, 2011; (ii) two years after the effective date of the initial Public Offering of the Company on the NASDAQ or other stock exchange in the United States; or
(iii) the effective date of a Merger as defined below; (the “Expiration Date”) and shall be void thereafter. 
 Notwithstanding the term of this Warrant fixed pursuant to this Section 7, and provided Holder has received advance written notice of at least twenty (20) days and has not earlier exercised this Warrant, and provided this
Warrant has not been assumed by the successor entity (or parent thereof), upon the consummation of a Merger (as defined below), this Warrant shall automatically be exercised pursuant to Section 4 hereof, without any action by Holder.
“Merger” means: (i) a sale of all or substantially all of the Company's assets to an Unaffiliated Entity (as defined below), or (ii) the merger, consolidation or acquisition of the Company with, into or by an Unaffiliated
Entity (other than a merger or consolidation for the principle purpose of changing the domicile of the Company or a bona fide round of preferred stock equity financing), the result of which is that stockholders of the Company immediately prior to
the merger, consolidation or acquisition do not own or control more than 50% of the voting power of the surviving entity immediately following such merger, consolidation or acquisition. “Unaffiliated Entity” means any entity that is
owned or controlled by parties who own less than twenty percent (20%) of the combined voting power of the voting securities of the Company immediately prior to such merger, consolidation or acquisition. Notwithstanding the foregoing, in the
event that any outstanding warrants to purchase preferred equity securities of the Company are assumed by the successor entity of a Merger (or parent thereof), this Warrant will be similarly assumed. The Company agrees to promptly give the Holder
written notice of any proposed Merger and written notice of termination of any proposed Merger. Notwithstanding anything to the contrary in this Warrant, the Holder may rescind any exercise of its purchase rights after a notice of termination of the
proposed Merger if the exercise of this Warrant occurred after the Company notified the Holder that the Merger was proposed or if the exercise was otherwise precipitated by such proposed Merger, provided, however that such rescission right must be
exercised within thirty (30) days of receipt of such written notice of termination of the proposed Merger. In the event of such rescission, this Warrant will continue to be exercisable on the same terms and conditions. 
 Notwithstanding the foregoing, this Warrant shall automatically be deemed to be exercised in full pursuant to the provisions of Section 4 hereof, without any
further action on behalf of the Holder, immediately prior to the time this Warrant would otherwise expire pursuant to this Section 7. 
 8. Reserved Shares; Valid Issuance. The Company covenants that it will at all times from and after the date hereof reserve and keep available such number of its authorized shares of Preferred Stock and Common Stock free from all
preemptive or similar rights therein, as will be sufficient to permit, respectively, the exercise of this Warrant in full and the conversion into shares of Common Stock of all shares of Preferred Stock receivable upon such exercise. The Company
further covenants that such shares as may be issued pursuant to such exercise and/or conversion will, upon issuance, be duly and validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issuance
thereof. 
 9. Stock Splits and Dividends. If after the date hereof the Company shall subdivide the Preferred Stock, by
split-up or otherwise, or combine the Preferred Stock, or issue additional shares of Preferred Stock in payment of a stock dividend on the Preferred Stock, the number of shares of Preferred Stock issuable on the exercise of this Warrant shall
forthwith be proportionately increased in the case of a subdivision or stock dividend, or proportionately decreased in the case of a combination, and the Purchase Price shall forthwith be proportionately decreased in the case of a subdivision or
stock dividend, or proportionately increased in the case of a combination. 
  

 3. 

 10. Adjustments for Diluting Issuances. The other antidilution rights applicable to the Preferred Stock
and the Common Stock of the Company are set forth in the Sixth Amended and Restated Certificate of Incorporation, as amended from time to time (the “Certificate”), a true and complete copy in its current form which is attached
hereto as Exhibit A. Such rights shall not be restated, amended or modified in any manner which affects the Holder differently than the holders of Preferred Stock without such Holder's prior written consent. The Company shall promptly provide
the Holder hereof with any restatement, amendment or modification to the Certificate promptly after the same has been made. 
 11. Mergers
and Reclassifications. If after the date hereof the Company shall enter into any Reorganization (as hereinafter defined), then, as a condition of such Reorganization, lawful provisions shall be made, and duly executed documents evidencing the
same from the Company or its successor shall be delivered to the Holder, so that the Holder shall thereafter have the right to purchase, at a total price not to exceed that payable upon the exercise of this Warrant in full, the kind and amount of
shares of stock and other securities and property receivable upon such Reorganization by a holder of the number of shares of Preferred Stock which might have been purchased by the Holder immediately prior to such Reorganization, and in any such case
appropriate provisions shall be made with respect to the rights and interest of the Holder to the end that the provisions hereof (including without limitation, provisions for the adjustment of the Purchase Price and the number of shares issuable
hereunder and the provisions relating to the net issue election) shall thereafter be applicable in relation to any shares of stock or other securities and property thereafter deliverable upon exercise hereof. For the purposes of this
Section 11, the term “Reorganization” shall include without limitation any reclassification, capital reorganization or change of the Preferred Stock (other than as a result of a subdivision, combination or
stock dividend provided for in Section 9 hereof), or any consolidation of the Company with, or merger of the Company into, another corporation or other business organization (other than a merger in which the Company is the surviving
corporation and which does not result in any reclassification or change of the outstanding Preferred Stock), or any sale or conveyance to another corporation or other business organization of all or substantially all of the assets of the Company.

 12. Certificate of Adjustment. Whenever the Purchase Price is adjusted, as herein provided, the Company shall promptly deliver
to the Holder a certificate of the Company’s chief financial officer setting forth the Purchase Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. 
 13. Notices of Record Date, Etc. In the event of: 
 (a) any taking by the Company of a record of the holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution, or any
right to subscribe for, purchase, sell or otherwise acquire or dispose of any shares of stock of any class or any other securities or property, or to receive any other right; 
 (b) any reclassification of the capital stock of the Company, capital reorganization of the Company, consolidation or merger involving the
Company, or sale or conveyance of all or substantially all of its assets; or 
 (c) any voluntary or involuntary dissolution,
liquidation or winding-up of the Company; 
 then in each such event the Company will provide or cause to be provided to the Holder a written notice thereof.
Such notice shall be provided at least twenty (20) business days prior to the date specified in such notice on which any such action is to be taken. 
 14. Representations, Warranties and Covenants. This Warrant is issued and delivered by the Company and accepted by each Holder on the basis of the following representations, warranties and covenants made by the
Company: 
 (a) The Company has all necessary authority to issue, execute and deliver this Warrant and to perform its obligations
hereunder. This Warrant has been duly authorized issued, executed and delivered by the Company and is the valid and binding obligation of the Company, enforceable in accordance with its terms. 
  

 4. 

 (b) The shares of Preferred Stock issuable upon the exercise of this Warrant have been duly
authorized and reserved for issuance by the Company and, when issued in accordance with the terms hereof, will be validly issued, fully paid and nonassessable. 
 (c) The issuance, execution and delivery of this Warrant do not, and the issuance of the shares of Preferred Stock upon the exercise of this Warrant in accordance with the terms hereof will not,
(i) violate or contravene the Company’s Certificate or by-laws, or any law, statute, regulation, rule, judgment or order applicable to the Company, (ii) violate, contravene or result in a breach or default under any contract,
agreement or instrument to which the Company is a party or by which the Company or any of its assets are bound or (iii) require the consent or approval of or the filing of any notice or registration with any person or entity. 
 (d) So long as this Warrant has not terminated, Holder shall be entitled to receive such financial and other information as the Holder would be
entitled to receive under the Stock Purchase Agreement applicable to the Preferred Stock if Holder were a holder of that number of shares issuable upon full exercise of this Warrant. 
 (e) As of the date hereof, the authorized capital stock of the Company consists of (i) 40,000,000 shares of Common Stock, of which 4,811,312
shares are issued and outstanding and 176,470 shares are reserved for issuance upon the exercise of this Warrant with respect to Common Stock and the conversion of the Preferred Stock into Common Stock if this Warrant is exercised with respect to
Preferred Stock, (ii) 3,360,000 shares of Series A Convertible Participating Preferred Stock, all of which are issued and outstanding shares; (iii) 11,893,927 shares of Series B Convertible Participating Preferred Stock, of which
10,393,481 are issued and outstanding shares; (iv). 8,717,649 shares of Preferred Stock, of which 8,364,707 are issued and outstanding shares; and (v) 6,000,000 Shares of Series 1 Convertible Preferred Stock, none of which are issued and
outstanding shares. Attached hereto as Exhibit B is a capitalization table summarizing the capitalization of the Company. Upon request, and in no event more than once per calendar quarter, the Company will provide Holder with a current
capitalization table indicating changes, if any, to the number of outstanding shares of common stock and preferred stock 
 15.
Registration Rights. The Holder upon Holder’s execution and delivery of a counterpart signature page thereto, shall become a party to the Company’s Fourth Amended and Restated Registration Rights Agreement (the “Rights
Agreement”), and shall have all the rights of a “Holder” thereunder, including, without limitation, the registration rights contained therein, so that the shares of Common Stock issuable upon conversion of the shares of Preferred
Stock issuable upon exercise of this Warrant shall be “Registrable Securities” under the Rights Agreement. 
 16. Amendment. The terms of this Warrant may be amended, modified or waived only with the written consent of the Holder and the Company. 
 17. Representations and Covenants of the Holder. This Warrant has been entered into by the Company in reliance upon the following representations and covenants of the Holder, which by its execution hereof the
Holder hereby confirms: 
 (a) Investment Purpose. The right to acquire Preferred Stock or the Preferred Stock issuable upon
exercise of the Holder’s rights contained herein will be acquired for investment and not with a view to the sale or distribution of any part thereof, and the Holder has no present intention of selling or engaging in any public distribution of
the same except pursuant to a registration or exemption. 
 (b) Accredited Investor. Holder is an “accredited investor”
within the meaning of the Securities and Exchange Rule 501 of Regulation D, as presently in effect. 
  

 5. 

 (c) Private Issue. The Holder understands (i) that the Preferred Stock issuable upon exercise
of the Holder’s rights contained herein is not registered under the 1933 Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Warrant will be exempt from the registration and
qualifications requirements thereof, and (ii) that the Company's reliance on such exemption is predicated on the representations set forth in this Section 17. 
 (d) Financial Risk. The Holder has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of its investment and has the ability to bear the economic
risks of its investment. 
 18. Notices, Transfers, Etc. 
 (a) Any notice or written communication required or permitted to be given to the Holder may be given by certified mail or delivered to the Holder at the address most recently provided by the Holder to the
Company. 
 (b) Subject to compliance with applicable federal and state securities laws, this Warrant may be transferred by the Holder
with respect to any or all of the shares purchasable hereunder. Upon surrender of this Warrant to the Company, together with the assignment notice annexed hereto duly executed, for transfer of this Warrant as an entirety by the Holder, the Company
shall issue a new warrant of the same denomination to the assignee. Upon surrender of this Warrant to the Company, together with the assignment hereof properly endorsed, by the Holder for transfer with respect to a portion of the shares of Preferred
Stock purchasable hereunder, the Company shall issue a new warrant to the assignee, in such denomination as shall be requested by the Holder hereof, and shall issue to such Holder a new warrant covering the number of shares in respect of which this
Warrant shall not have been transferred. 
 (c) In case this Warrant shall be mutilated, lost, stolen or destroyed, the Company shall
issue a new warrant of like tenor and denomination and deliver the same (i) in exchange and substitution for and upon surrender and cancellation of any mutilated Warrant, or (ii) in lieu of any Warrant lost, stolen or destroyed, upon
receipt of an affidavit of the Holder or other evidence reasonably satisfactory to the Company of the loss, theft or destruction of such Warrant 
 19. No Impairment. The Company will not, by amendment of its Certificate or through any reclassification, capital reorganization, consolidation, merger, sale or conveyance of assets, dissolution, liquidation, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the observance of performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action
as may be necessary or appropriate in order to protect the rights of the Holder. 
 20. Governing Law. The provisions and terms
of this Warrant shall be governed by and construed in accordance with the internal laws of the State of California without giving effect to its principles regarding conflicts of laws. 
 21. Successors and Assigns. This Warrant shall be binding upon the Company’s successors and assigns and shall inure to the benefit of the
Holder’s successors, legal representatives and permitted assigns. 
 22. Business Days. If the last or appointed day for
the taking of any action required or the expiration of any rights granted herein shall be a Saturday or Sunday or a legal holiday in California, then such action may be taken or right may be exercised on the next succeeding day which is not a
Saturday or Sunday or such a legal holiday. 
 23. Qualifying Public Offering. If the Company shall effect a firm commitment
underwritten public offering of shares of Common Stock which results in the conversion of the Preferred Stock into Common Stock pursuant to the Company’s Certificate in effect immediately prior to such offering, then, effective upon such
conversion, this Warrant shall change from the right to purchase shares of Preferred Stock to the right to purchase shares of Common Stock, and the Holder shall thereupon have the right to purchase, at a total price equal to that 

  

 6. 

 
payable upon the exercise of this Warrant in full, the number of shares of Common Stock which would have been receivable by the Holder upon the exercise of
this Warrant for shares of Preferred Stock immediately prior to such conversion of such shares of Preferred Stock into shares of Common Stock, and in such event appropriate provisions shall be made with respect to the rights and interest of the
Holder to the end that the provisions hereof (including, without limitation, the provisions for the adjustment of the Purchase Price and of the number of shares purchasable upon exercise of this Warrant and the provisions relating to the net issue
election) shall thereafter be applicable to any shares of Common Stock deliverable upon the exercise hereof. 
 24. Value. The Company
and the Holder agree that the value of this Warrant on the date of grant is $50. 
 THIS PAGE INTENTIONALLY LEFT BLANK 
  

 7. 

 IN WITNESS WHEREOF, the Company has executed this Warrant as of the date first written above. 
  

			
	GLASSHOUSE TECHNOLOGIES, INC.
		
	By:	 	 /s/ Mark A. Shirman

		 	Mark A. Shirman
		 	Chief Executive Officer

 Subscription 
  

			
	 To:
	 	  

  

			
	 Date:
	 	  

 The undersigned hereby subscribes for
                     shares of Preferred Stock covered by this Warrant. The certificate(s) for such shares shall be issued in the name of the
undersigned or as otherwise indicated below: 
  

	
	  

	Signature
	
	  

	Name for Registration
	
	  

	Mailing Address

  

 1. 

 Net Issue Election Notice 
  

									
	To:	 	  
	 		 	Date:	 	  

 The undersigned hereby elects under Section 4 to surrender the right to purchase shares of Preferred
Stock pursuant to this Warrant. The certificate(s) for such shares issuable upon such net issue election shall be issued in the name of the undersigned or as otherwise indicated below: 
  

	
	  

	Signature
	
	  

	Name for Registration
	
	  

	Mailing Address

  

 1. 

 Assignment 
  

	
	For value received ____________________________________________________________ hereby sells, assigns and transfers unto
	  
  

	[Please print or typewrite name and address of Assignee]
	  

	the within Warrant, and does hereby irrevocably constitute and appoint _______________________________ its attorney to transfer the within Warrant on the books of the within named Company with
full power of substitution on the premises.

  

			
	Dated:	 	  

	
	  

	Signature
	
	  

	Name for Registration
	
	In the Presence of:
	
	  

  

 1. 

 EXHIBIT A 
 Amended and Restated Certificate of Incorporation 
 See attached pages. 

  

 1. 

 EXHIBIT B 
 Capitalization Table 

 EXHIBIT D 
 NOTICE OF BORROWING 
                     ,          
 Lighthouse Capital Partners V, L.P. 
 500 Drake’s Landing Road

 Greenbrae,CA 94904-3011 
 Ladies and Gentlemen: 
 Reference is made to the Loan and Security Agreement No. 4091 dated as of June 30, 2004 (as it has been and may be amended from time to time,
the “Loan Agreement” initially capitalized terms used herein as defined therein), between LIGHTHOUSE CAPITAL PARTNERS V, L.P. and GLASSHOUSE
TECHNOLOGIES, INC. (the “Company”) 
 The undersigned is the President and CEO of the
Company, and hereby irrevocably requests an Advance under the Loan Agreement, and in that connection certifies as follows: 
 1. The amount of
the proposed Advance is $                    . The business day of the proposed Advance is
                    ,. 
 2. The
Loan Commencement Date for this Advance shall be July 1,2005. 
 3. As of this date, no Event of Default, or event which with notice or
the passage of time would constitute an Event of Default, has occurred and is continuing, or will result from the making of the proposed Advance, and the representations and warranties of the Company contained in Section 5 of the Loan Agreement
are true and correct in all material respects. 
 4. No event that could reasonably be expected to have a material adverse effect on the
ability of Borrower to fulfill its obligations under the Loan Agreement has occurred since the date of the most recent financial statements, submitted to you by the Company. 
 The Company agrees to notify you promptly before the funding of the Advance if any of the matters to which I have certified above shall not be true and
correct on the Borrowing Date. 
  

			
	Very truly yours,
	
	GLASSHOUSE TECHNOLOGIES, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 1 

 EXHIBIT E 
 INCUMBENCY CERTIFICATE 
 The undersigned,
                                    , hereby certifies that:

 1. He/She is the duly elected and acting
                                        
of GLASSHOUSE TECHNOLOGIES, INC., a Delaware corporation (the “Company”). 
 2. That on the date hereof, each person listed below holds the office in the Company indicated opposite his or her name and that the signature appearing thereon is the genuine signature of each such person: 
  

					
	 NAME
	 	 OFFICE
	 	 SIGNATURE

			
	  
	 	  
	 	  

			
	  
	 	  
	 	  

 3. Attached hereto as Exhibit A is a true and correct copy of the Certificate of
Incorporation of the Company, as amended, as in effect as of the date hereof. 
 4. Attached hereto as Exhibit B is a true and correct
copy of the Bylaws of the Company, as amended, as in effect as of the date hereof. 
 5. Attached hereto as Exhibit C is a copy of the
resolutions of the Board of Directors of the Company authorizing and approving the Company’s execution, delivery and performance of a loan facility with Lighthouse Capital Partners V, L.P. 
 IN WITNESS WHEREOF, the undersigned has executed this Incumbency Certificate on
                    . 
  

			
	GLASSHOUSE TECHNOLOGIES, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 I, the
                                        
of the Company, do hereby certify that
                                        
is the duly qualified, elected and acting
                                        
of the Company and that the above signature is his or her genuine signature. 
 IN WITNESS WHEREOF, the undersigned has executed and
delivered this Officer’s Certificate on                     . 
  

			
	GLASSHOUSE TECHNOLOGIES, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 1 

 EXHIBIT F 
 OFFICER’S CERTIFICATE 
 The
undersigned, to induce LIGHTHOUSE CAPITAL PARTNERS V, L.P. (“Lender”), to extend or continue financial accommodations to GLASSHOUSE
TECHNOLOGIES, INC., a Delaware corporation (the “Borrower”) pursuant to the terms of that certain Loan and Security Agreement dated June 30,2004 (the “Loan Agreement”), hereby
certifies that on the date hereof: 
  

	 	1.	I am the duly elected and acting                      of Borrower.

  

	 	2.	I am a Responsible Officer as that term is defined in the Loan Agreement. 

  

	 	3.	The information submitted herewith is in fact what it purports to be. 

  

	 	4.	The information delivered herewith is true, correct and complete 

  

	 	5.	Borrower is currently able to meet its obligations as they come due. 

  

	 	6.	I understand that Lender is relying upon the truthfulness, accuracy and completeness hereof in connection with the Loan Agreement. 

  

	 	7.	I will advise you if it comes to my attention that, as of the date hereof, the information submitted herewith was not in fact true, correct and complete.

 IN WITNESS WHEREOF, the undersigned has executed this Officer’s Certificate on
                    . 
  

			
	GLASSHOUSE TECHNOLOGIES, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 1 

 EXHIBIT G 
 AUTHORIZATION FOR AUTOMATIC PAYMENT 
 The undersigned GLASSHOUSE TECHNOLOGIES, INC. (“Borrower”) authorizes LIGHTHOUSE CAPITAL PARTNERS V, L.P. and
any and all affiliated funds (collectively, “Lender”) and the bank / financial institution (“Bank”) named below to initiate variable debit and/or credit entries to Borrower’s deposit, checking or savings
accounts as designated below and to cause funds transfers to an account of Lender as payment of any and all amounts due under the Loan and Security Agreement between Borrower and Lender dated June 30,2004 (the “Loan
Agreement”). 
 1. Lender is hereby authorized to initiate variable debit and/or credit transactions and resulting funds transfers in
Borrower’s designated accounts with respect to amounts calculated by Lender to be due and owing to Lender by Borrower periodically under the Loan Agreement. Borrower consents to all such debit and/or credit transactions and resulting funds
transfers and hereby authorizes Lender to take all such actions as may be required by Bank with respect to such transactions. Borrower acknowledges and agrees that such credit and/or debit entries may be made in amounts due under the Loan Agreement
in order to cause timely payments as required by the terms of the Loan Agreement. 
 2. Borrower hereby authorizes Lender to release to Bank all
information concerning Borrower that may be necessary or desirable for Bank to investigate or recover any erroneous funds transfers that may occur. 
 3. Borrower acknowledges and agrees that all such debit and/or credit transactions and funds transfers are intended to be made through an Automated Clearing House system and in compliance with the NACHA Rules and in compliance with
Bank’s security procedures. 
 4. Borrower represents and warrants that the account information set forth below is accurate and complete and that
each of the account(s) set forth below is a business account maintained in Borrower’s name and for Borrower’s account. 
 This Consent shall be
effective as of June 30, 2004 and shall remain in effect until the Loan Agreement has been terminated. Any cancellation by Borrower of this consent shall (i) be made in writing and (ii) delivered to Bank and Lender in such time as to
afford Bank and Lender a reasonable opportunity to act on said cancellation. 
  

			
		 	  

		 	(Name of Borrower’s Bank)

									
		
		 	  

		 	(Address of Bank)	 	(City)	 	(State)	 	(Zip Code)

									
				
		 	Bank Routing Number	 	  
	 	
		 		 	(between these symbols “ /:”     “:/” on bottom left of check)	 	

									
				
		 	Account Number:	 	 (checking / deposit / savings’)        

	 	(circle one)

 Copy of a voided check is attached to this form 
  

					
	Borrower Name:	 	GLASSHOUSE TECHNOLOGIES, INC.
		
	Borrower Address:	 	  

		 	  

		
	Authorized by:	 	  

		 	Its:	 	  

		
	Date authorized:	 	  

 Internal ACH Authorizations from Lender: 
  

									
	Approved by:	 	  
	 		  	Date:	  	                     

  

 1 

 EXHIBIT H 
 NEGATIVE PLEDGE AGREEMENT 
 THIS NEGATIVE PLEDGE AGREEMENT is made as of June 30, 2004, by and between GLASSHOUSE TECHNOLOGIES, INC.
(“BORROWER”) and LIGHTHOUSE CAPITAL PARTNERS V, L.P. (“Lender”). 
 In consideration of the Loan and Security Agreement between the parties of proximate date herewith (the “Loan Agreement”), Borrower agrees as follows:

 Except with respect to Permitted Indebtedness and Permitted Liens (each defined in the Loan Agreement) and as otherwise permitted in the Loan Agreement,
Borrower shall not sell, transfer, assign, mortgage, pledge, lease, grant a security interest in, or encumber any of Borrower’s intellectual property, including, without limitation, the following: 
 (a) Any and all copyright rights, copyright applications, copyright registration and like protection in each work or authorship and derivative work thereof,
whether published or unpublished and whether or not the same also constitutes a trade secret, now or hereafter existing, created, acquired or held (collectively, the “Copyrights”); 
 (b) Any and all trade secrets, and any and all intellectual property rights in computer software and computer software products now or hereafter existing,
created, acquired or held; 
 (c) Any and all design rights which may be available to Borrower now or hereafter existing, created, acquired or held;

 (d) All patents, patent applications and like protections, including, without limitation, improvements, divisions, continuations, renewals,
reissues, extensions and continuations-in-part of the same, including, without limitation, the patents and patent applications (collectively, the “Patents”); 
 (e) Any trademark and servicemark rights, whether registered or not, applications to register and registrations of the same and like protections, and the entire goodwill of the business of Borrower connected
with and symbolized by such trademarks (collectively, the “Trademarks”); 
 (f) Any and all claims for damages by way of past,
present and future infringements of any of the rights included above, with the right, but not the obligation, to sue for an collect such damages for said use or infringement of the intellectual property rights identified above; 
 (g) Any and all licenses or other rights to use any of the Copyrights, Patents or Trademarks and all license fees and royalties arising from such use to the
extent permitted by such license or rights; 
 (h) Any and all amendments, extensions, renewals and extensions of any of the Copyrights, Patents or
Trademarks; and 
 (i) Any and all proceeds and products of the foregoing, including, without limitation, all payments under insurance or any
indemnity or warranty payable in respect of any of the foregoing. 
 It shall be an Event of Default under the Loan Agreement if there is a breach of any
term of this Negative Pledge Agreement. Borrower agrees to properly execute all documents reasonably required by Lender in order to fulfill the intent and purposes hereof. 
  

									
	GLASSHOUSE TECHNOLOGIES, INC.	 		 	LIGHTHOUSE CAPITAL PARTNERS V, L.P.
					
	By:	 	  
	 		 	By:	 	LIGHTHOUSE MANAGEMENT PARTNERS V, L.L.C., its general partner
	Name:	 	  
	 		 	By:	 	  

	Title:	 	  
	 		 	Name:	 	  

		 		 		 	Title:	 	  

  

 1 

 EXHIBIT I 
 DEPOSIT ACCOUNT 
 CONTROL
AGREEMENT 
 This Deposit Account Control Agreement (this “Agreement”) is entered into as of
June 25, 2004, by and among Glasshouse Technologies, Inc., a Delaware Corporation (“Customer”), Lighthouse Capital Partners V, L.P., a Delaware Limited Partnership (“LCP-V”) acting on behalf of itself and as agent for
Lighthouse Capital Partners IV, L.P., a Delaware Limited Partnership (“LCP-IV”) (collectively, LCP-V and LCP-IV, the “Secured Party”), and COMERICA BANK (“Bank”), with reference to the following facts:

 A. Customer maintains the Deposit Account (as defined below) at Bank, located at 226 Airport Parkway, San Jose, California (the
“Banking Office”). 
 B. Customer has granted Secured Party a security interest in the Deposit Account and all funds now or
at any time hereafter held in the Deposit Account. 
 C. Secured Party, Customer and Bank have agreed to enter into this Agreement to provide
for the control of the Deposit Account by Secured Party and to perfect Secured Party’s security interests in the Deposit Account (as each such term is defined below). 
 NOW, THEREFORE, in consideration of the mutual promises and covenants, contained herein the parties hereto mutually agree as follows. 
 ARTICLE 1 - DEFINITIONS 
 1.01
Definitions. As used in this Agreement, the following terms shall have the following meanings: 
 “Code” means the
California Uniform Commercial Code, as amended and supplemented from time to time, and any successor statute. 
 “Deposit
Account” means only Customer’s deposit accounts (as such term is defined in the Code) with Bank, with the following numbers 1892029420 and 1892029669. 
 “Notice of Exclusive Control” means written notice to Bank which states that an event of default has occurred and is continuing under the document, instrument or agreement pursuant to which Customer
has granted the security interest in the Deposit Account to Secured Party, and that on the basis thereof, Secured Party is exercising exclusive control over the Deposit Account. 
 “Order” means any instruction issued by any person with respect to the disposition of any funds contained in the Deposit Account.

 1.02 Construction. Any reference herein to any document includes any and all alterations, amendments, extensions, modifications,
renewals, or supplements thereto or thereof, as applicable. Neither this Agreement nor any uncertainty or ambiguity herein shall be construed or resolved against Secured Party, whether under any rule of construction or otherwise. This Agreement has
been reviewed by each of the parties hereto, and their respective counsel. This Agreement shall be construed and interpreted according to the ordinary meaning of the words used so as to fairly accomplish the purposes and intentions of Customer and
Secured Party. 
 ARTICLE 2 - CONTROL 
 2.01 No Withdrawals or Payments After Receipt of Notice of Exclusive Control. Anything contained in Section 2.03 to the contrary notwithstanding, Customer hereby absolutely, irrevocably and
unconditionally authorizes and instructs Bank that, promptly upon receipt of a Notice of Exclusive Control by Bank at the Banking Office, Bank shall: 
 (a) neither accept nor comply with any Order from Customer, including an Order for the payment of any funds from the Deposit Account to any third person nor permit Customer to withdraw any funds in the Deposit Account
without the specific prior written consent of Secured Party; and 
  

 1 

 (b) comply with all Orders originated by Secured Party concerning the Deposit Account and all other
requests or instructions from Secured Party regarding disposition and/or delivery of funds contained in the Deposit Account, without further consent or direction from Customer and without regard to any inconsistent or conflicting Orders given to
Bank by Customer within two (2) Business Days. 
 (c) anything contained in the foregoing to the contrary notwithstanding, Secured Party
hereby agrees that before it delivers Orders to the Bank concerning the Account, Secured Party shall have delivered to the Banking Office such documentation as Bank shall have reasonably requested from time to time to evidence the authority of those
partners, officers, employees or agents whom Secured Party may designate to give Orders. The Bank and Secured Party agree to use their best efforts to ensure that Bank is prepared at all times to accept Orders from persons designated by Secured
Party as having authority to act under this Agreement and Secured Party agrees to deliver such evidence related thereto as Bank may reasonably request. 
 2.02 Priority of Lien. Bank hereby acknowledges and agrees that: 
 (a) Bank has received notice of the
existence of the security interest of Secured Party in the Deposit Account, and recognizes the security interest granted to Secured Party by Customer; 
 (b) all of Bank’s present and future rights against the Deposit Account are subordinate to Secured Party’s security interest therein; provided, however, that Secured Party hereby acknowledges
and agrees that nothing herein subordinates or waives, and that Bank expressly reserves, all of its present and future rights (whether described as rights of setoff, banker’s lien, security interest, chargeback or otherwise, and whether
available to Bank under the law or under any other agreement between Bank and Customer concerning the Deposit Account, or otherwise) solely with respect to: (a) items deposited to the Deposit Account and returned unpaid, whether for
insufficient funds or for any other reason, and without regard to the timeliness of return of any such items or the occurrence or timeliness of any drawee’s notice of non-payment of such items; (b) ACH entries credited to the Deposit
Account and later reversed, whether for insufficient funds or for any other reason, and without regard to the timeliness of such entries’ reversal; (c) chargebacks to the Deposit Account of credit card transactions; (d) erroneous
entries to the Deposit Account; (e) overdrafts on the Deposit Account, (f) claims of breach of the transfer or presentment warranties made to Bank pursuant to the Code in connection with items deposited to the Deposit Account; and
(g) Bank’s usual and customary charges for services rendered in connection with the Deposit Account; and; 
 (c) Except as
otherwise required by law, Bank shall not enter into any agreement with any third party relating to the Deposit Account or agree that it will comply with any Orders concerning the Deposit Account originated by any such third party without the prior
written consent of Secured Party and Customer. 
 2.03 Control of Deposit Account. At all times during the effectiveness of this
Agreement, Customer hereby absolutely, irrevocably and unconditionally instructs, and Bank hereby agrees, that: 
 (a) Bank shall not comply
with any Orders or other instructions concerning the Deposit Account, from any third party without the prior written consent of Secured Party and Customer. 
  

 2 

 (b) Except as otherwise provided in Sections 2.01 and 2.02, prior to the receipt of a Notice of
Exclusive Control by Bank at the Banking Office, Bank shall accept and execute Orders from Customer with respect to the payment or withdrawal of any funds from the Deposit Account or the payment of any funds in the Deposit Account to Customer.

 2.04 Bank’s Representations. Warranties and Acknowledgments. 
 (a) Bank represents and warrants to Secured Party that: 
 (i) the Deposit Account has been established and is maintained with Bank at the Banking Office solely in Customer’s name as recited above; 
 (ii) any balances in the Deposit Account are valid and binding obligations of Bank; 
 (iii) Bank has no knowledge of any claim to, security interest in or lien upon the Deposit Account, except a senior lien of Bank as described in
Section 2.02 hereof; 
 (iv) Bank has not entered into any agreement with any third party regarding the Deposit Account or
agreed that it will comply with any Orders concerning the Deposit Account originated by any such third party. 
 2.05 Agreements of Bank
and Customer. Bank and Customer agree that: 
 (a) Bank shall send copies of all statements relating to the Deposit Account simultaneously
to Customer and to Secured Party; 
 (b) Bank may disclose to Secured Party such other information concerning the Deposit Account as Secured
Party may from time to time request; provided, however, that Bank shall have no obligation to disclose to Secured Party any information which Bank does not ordinarily make available to its depositors; and 
 (c) Bank shall use reasonable efforts to promptly notify Secured Party and Customer if any other party asserts any claim to, security or property
interest in or lien upon the Deposit Account; and Bank shall provide at least 30 days prior written notice to Secured Party before it closes the Account. 
 2.06 Bank’s Responsibility. Anything contained in the foregoing to the contrary notwithstanding: 
 (a) Except for permitting a withdrawal in violation of Section 2.01, Bank shall not be liable to Secured Party for complying with Orders from Customer that are received by Bank before Bank receives and has a reasonable
opportunity (no more than 2 business days) to act on Notice of Exclusive Control and any contrary Order from Secured Party. 
 (b) Bank shall
not be liable to Customer for complying with Orders originated by Secured Party, even if Customer notifies Bank that Secured Party is not legally entitled to issue Orders, unless Bank takes the action after it is served with an injunction,
restraining order, or other legal process enjoining it from doing so, issued by a court of competent jurisdiction, and had a reasonable opportunity to act on the injunction, restraining order or other legal process. 
  

 3 

 (c) This agreement does not create any obligation of Bank except for those expressly set forth in this
Agreement. In particular, Bank need not investigate whether the Secured Party is entitled under Secured Party’s agreements with Customer to give Orders. Bank may rely on notices and communications it believes are given by the appropriate party.

 (d) Bank will not have any liability to Customer or Secured Party for claims, losses, liabilities or damages suffered or incurred by
Customer or Secured Party as a result of or in connection with this agreement except to the extent such losses, liabilities and damages directly result from Bank’s gross negligence or willful misconduct. 
 (e) In no event shall Bank have any liability to Customer or Secured Party for any consequential, special, punitive or indirect loss or damage whether or
not any claim for such damages is based on tort or contract or Bank knew or should have known the likelihood of such damages in any circumstances. 
 2.07 Indemnity. 
 (a) Customer shall indemnify and hold harmless Bank, its officers, directors, employees, and agents against
any and all claims, liabilities, demands, damages and expenses arising out of this Agreement (including reasonable attorneys’ fees and disbursements and the reasonable estimate of the allocated costs and expenses of in-house legal counsel and
staff), except to the extent the claims, liabilities, or expenses are caused by Bank’s gross negligence or willful misconduct. Customer shall indemnify Secured Party for any indemnity obligations Secured Party owes to Bank under this Agreement.

 (b) Secured Party shall indemnify and hold harmless Bank, its officers, directors, employees, and agents against any and all claims,
liabilities, demands, damages and expenses arising out of this Agreement (including reasonable attorneys’ fees and disbursements and the reasonable estimate of the allocated costs and expenses of in-house legal counsel and staff), except to the
extent the claims, liabilities, or expenses are caused by Bank’s gross negligence or willful misconduct; provided, however, that in no event shall the Secured Party be liable for any special, consequential, exemplary damages, or lost profits.

 2.08 Termination, Survival. 
 (a) This Agreement shall terminate: 
 (i) immediately upon receipt by the Bank at the Banking Office of written notice from Secured
Party expressly stating that Secured Party is terminating this Agreement; 
 (ii) immediately upon receipt by the Bank at the Banking Office
of written notice from Secured Party expressly stating that Secured Party’s security interest in the Deposit Account has terminated; or 
 (iii) thirty (30) days after the receipt by Secured Party and Customer of written notice from Bank stating that it is terminating this Agreement; provided, that in the event that the Bank terminates this Agreement pursuant to this
Section 2.08 (a), the Bank, at the end of such thirty (30) day period, shall transfer the funds in the Deposit Account to the bank or other financial institution that the Secured party designates to the Bank in writing (with a copy to the
Customer). 
 (b) Sections 2.06, “Bank’s Responsibility,” and Section 2.07, “Indemnity,” shall
survive termination of this Agreement. 
  

 4 

 ARTICLE 3 - GENERAL PROVISIONS 
 3.01 Conflicts; Controlling Agreement. As to the matters specifically the subject of this Agreement, in the event of any conflict between this
Agreement and any other agreement between Bank and Customer, the terms of this Agreement shall control. 
 3.02 Final Agreement;
Amendments and Waivers. This Agreement, together with any other document, instrument, or agreement entered into between Customer and Secured Party in connection therewith with respect to the subject matter contained therein constitutes the
entire understanding among each of them with respect to the subject matter thereof. This Agreement supersedes any and all prior oral or written agreements relating to the subject matter hereof. Any provision of this Agreement may be amended or
waived if, but only if, such amendment or waiver is in writing and is signed by the party asserted to be bound thereby, and then such amendment or waiver shall be effective only in the specific instance and specific purpose for which given.

 3.03 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the heirs, executors, administrators,
legal representatives, successors and assigns of the parties. 
 3.04 Amendments, Modifications. This Agreement may be amended or
modified only in writing signed by all parties hereto. 
 3.05 Severability of Provisions. If any provision of this Agreement for any
reason is held to be invalid, illegal or unenforceable in any respect, that provision shall not affect the validity, legality or enforceability of any other provision of this Agreement. 
 3.06 Section Headings. Headings and numbers used to identify sections and paragraphs of this Agreement have been set forth herein for convenience
only. Unless the contrary is compelled by the context, everything contained in each section applies equally to this entire Agreement. 
 3.07
Counterparts; Facsimile Execution. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of
which, when taken together, shall constitute but one and the same Agreement. Delivery of an executed counterpart of this Agreement by facsimile shall be equally as effective as delivery of a manually executed counterpart of this Agreement. Any party
delivering an executed counterpart of this Agreement by facsimile also shall deliver a manually executed counterpart of this Agreement but the failure to deliver a manually executed counterpart shall not affect the validity, enforceability, and
binding effect of this Agreement. 
 3.08 Notices. All notices, requests and demands which any party is required or may desire to give
to any other party under any provision of this Agreement must be in writing (unless otherwise specifically provided) and delivered to each party at the following address: 
  

			
	Customer	  	Glasshouse Technologies, Inc.
		  	 200 Crossing Boulevard
 Framingham, MA
01702
 Fax. No. (508) 879-7319
 Attn: Mark Shirman,
CEO

		
	Secured Party:	  	Lighthouse Capital Partners V, L.P.
		  	 500 Drakes Landing Road
 Greenbrae, CA
94904-3011
 Fax. No. (415) 925-3387
 Attn: Contract Administrator

  

 5 

			
	Bank:	  	Comerica Bank
		  	Technology & Life Sciences Division
		  	100 Federal Street, 28th Floor
		  	Boston, MA 02110
		  	Fax. No. (617) 757-6310
		  	Attn: James Demoy
		
		  	With a Copy To:
		
		  	Comerica Bank
		  	Technology & Life Sciences Division
		  	2321 Rosecrans Ave., Suite 5000
		  	El Segundo, CA 90245
		  	FAX: (310) 297-2290
		  	Attn: Manager

 or to such other address or facsimile number as any party may designate by written notice to all other parties.
Each such notice, request and demand shall be deemed given or made as follows: (i) if sent by hand delivery, upon delivery; (ii), if sent by national overnight courier, upon receipt, and (iii) if sent by facsimile, upon receipt; provided,
however, that in either case, receipt by Bank of any Notice of Exclusive Control shall not be deemed to have occurred until the Bank delivers written notification (by email, fax or hard copy) confirming receipt to the Secured Party. Bank shall
attempt in good faith to deliver written notification confirming receipt to the Secured Party promptly following Bank’s actual receipt of the Notice of Exclusive Control. 
 3.09 Governing Law. This Agreement shall be deemed to have been made in the state of California and the validity, construction, interpretation,
and enforcement hereof, and the rights of the parties hereto, shall be determined under, governed by, and construed in accordance with the internal laws of the state of California, without regard to principles regarding the conflicts or choice of
law. 
 3.10 WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO HEREBY
ABSOLUTELY, IRREVOCABLY AND UNCONDITIONALLY WAIVES, AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION
ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING OR WHETHER IN CONTRACT OR TORT OR OTHERWISE. EACH PARTY HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER
PARTIES HERETO THAT THE PROVISIONS OF THIS SECTION CONSTITUTE A MATERIAL INDUCEMENT UPON WHICH THE OTHER PARTIES HAVE RELIED, ARE RELYING AND WILL RELY IN ENTERING INTO THIS AGREEMENT. THE PARTIES HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF
THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF SUCH OTHER PARTY TO THE WAIVER OF ITS RIGHTS TO TRIAL BY JURY. 
 Nothing
in this Section shall prejudice the right of the Secured Party to exercise its non-judicial foreclosure rights and remedies, or prejudice the right of any party to obtain provisional relief or other equitable remedies as shall otherwise be available
judicially pending submission of any issue, claim, demand, action, or cause of action to trial by the court as provided in this Section. 
 If and only if the jury trial waiver set forth above is invalidated for any reason by a court of law, statute or otherwise, the reference provisions set forth below shall be substituted in place of the jury trial waiver. So long as the jury
trial waiver remains valid, the reference provisions set forth in the following paragraphs shall be inapplicable. 
  

 6 

 (a) Each controversy, dispute or claim (each, a “Claim”) between the parties arising out of or
relating to this Agreement, other than the exercise of provisional remedies (any of which may be initiated pursuant to applicable law) that are not settled in writing within fifteen (15) days after the date on which a party subject to the
Agreement gives written notice to all other parties that a Claim exists (the “Claim Date”) shall 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, or their successor sections (“CCP”), which shall constitute the exclusive remedy for the resolution of any Claim concerning the Agreement, including whether such Claim is subject to the reference proceeding. Except as set
forth in this section, the parties waive the right to initiate legal proceedings against each other concerning each such Claim. Venue for these proceedings shall be in the Superior Court in the County where the real property, if any, is located or
in a County where venue is otherwise appropriate under state law (the “Court”). By mutual agreement, the parties shall select a retired Judge of the Court to serve as referee, and if they cannot so agree within fifteen (15) days after
the Claim Date, the Presiding Judge of the Court (or his or her representative) shall promptly select the referee. A request for appointment of a referee may be heard on an ex parte or expedited basis. The referee shall be appointed to sit as a
temporary judge, with all the powers for a temporary judge, as authorized by law, and upon selection should take and subscribe to the oath of office as provided for in Rule 244 of the California Rules of Court (or any subsequently enacted Rule).
Each party shall have one peremptory challenge pursuant to CCP §170.6. Upon being selected, the referee shall (a) be requested to set the matter for a status and trial-setting conference within fifteen (15) days after the date of
selection and (b) if practicable, try any and all issues of law or fact and report a statement of decision upon them within ninety (90) days of the date of selection. The referee will have power to expand or limit the amount of discovery a
party may employ. Any decision rendered by the referee will be final, binding and conclusive, and judgment shall be entered pursuant to CCP §644 in any court in the State of California having jurisdiction. The parties shall complete all
discovery no later than fifteen (15) days before the first trial date established by the referee. The referee may extend such period in the event of a party’s refusal to provide requested discovery for any reason whatsoever, including,
without limitation, legal objections raised to such discovery or unavailability of a witness due to absence or illness. No party shall be entitled to “priority” in conducting discovery. Either party may take depositions upon seven
(7) days written notice, and shall respond to requests for production or inspection of documents within ten (10) 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 upon the parties. Pending appointment of the referee as provided herein, the Superior Court is empowered to issue temporary and/or provisional remedies, as appropriate. 
 (b) Except as expressly set forth herein, the referee shall determine the manner in which the reference proceeding is conducted including the time and
place of all hearings, the order of presentation of evidence, and all other questions that arise with respect to the course of the reference proceeding. Except for trial, all proceedings and hearings conducted before the referee shall be conducted
without a court reporter unless a party requests a court reporter. The party making such a request shall have the obligation to arrange for and pay for the court reporter. Subject to the referee’s power to award costs to the prevailing party,
the parties shall equally bear the costs of the court reporter at the trial and the referee’s expenses 
 (c) The referee shall
determine all issues in accordance with existing California case and statutory law. California rules of evidence applicable to proceedings at law will apply to the reference proceeding. The referee shall be empowered to enter equitable as well as
legal relief, to provide all temporary and/or provisional remedies and to enter equitable orders that shall be binding upon the parties. At the close of the reference proceeding, the referee shall issue a single judgment at disposing of all the
claims of the parties that are the subject of the reference. The parties reserve the right (i) to contest or appeal from the final judgment or any appealable order or appealable judgment entered by the referee and (ii) to obtain findings
of fact, conclusions of laws, a written statement of decision, and (iii) to move for a new trial or a different judgment, which new trial, if granted, shall be a reference proceeding under this provision. 
  

 7 

 (d) 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 the reference procedure herein described will be resolved and determined by arbitration conducted by a retired judge of the Court, 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 as set forth in this Section shall apply to any such arbitration proceeding. 
 3.11 Attorney Costs.The prevailing party in any proceeding conducted in accordance with the provisions of Section 3.10 hereof or any
other action arising out of this Agreement shall be reimbursed by the non-prevailing party(s) thereto for all costs and expenses, including reasonable attorneys’ fees (to include outside counsel fees and all allocated costs of the prevailing
party’s in-house counsel), expended or incurred by the prevailing party in connection therewith, in addition to any other remedy or recovery awarded by the court. 
 THIS SECTION INTENTIONALLY LEFT BLANK. 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the date set forth in the first
paragraph hereof. 
  

					
	CUSTOMER:	 	 Glasshouse Technologies, Inc.
 a Delaware
corporation

			
		 	By:	 	 /s/ Mark A. Shirman

		 		 	Mark A. Shirman
		 		 	Chief Executive Officer
		
	SECURED PARTY:	 	Lighthouse Capital Partners V, L.P.
			
		 	By:	 	Lighthouse Management Partners V, L.L.C.,
		 	its general partner
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	BANK:	 	COMERICA BANK
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	

 SCHEDULE 1 
 DISCLOSURE SCHEDULE 
 DEPOSIT
AND SECURITIES ACCOUNTS 
  

					
	 	 	 Account Information:
	 	 Contact Information for
 Account:

	  
 Account
 Number
 1
	 	 Company Name:
 Address:
 City, State, Zip:
 Phone:
 Fax:
 Type of Account:
 Account number:
 Approximate Dollar Amount:
	 	 Contact Name:
 Phone:
 Fax:
 E-mail:

			
	  
 Account
 Number
 2
	 	 Company Name:
 Address:
 City, State, Zip:
 Phone:
 Fax:
 Type of Account:
 Account number:
 Approximate Dollar Amount:
	 	 Contact Name:
 Phone:
 Fax:
 E-mail:

			
	  
 Account
 Number
 3
	 	 Company Name:
 Address:
 City, State, Zip:
 Phone:
 Fax:
 Type of Account:
 Account number:
 Approximate Dollar Amount:
	 	 Contact Name:
 Phone:
 Fax:
 E-mail:

			
	  
 Account
 Number
 4
	 	 Company Name:
 Address:
 City, State, Zip:
 Phone:
 Fax:
 Type of Account:
 Account number:
 Approximate Dollar Amount:
	 	 Contact Name:
 Phone:
 Fax:
 E-mail:

 PERMITTED LIENS 
 EXISTING LIENS         [TO BE PROVIDED BY BORROWER – If “None”
Indicate such] 
  

 1 

 SUBSIDIARIES 
 [TO BE PROVIDED BY BORROWER – If “None” Indicate such] 
 LITIGATION AND ADMINISTRATIVE PROCEEDINGS 
 [TO BE PROVIDED BY
BORROWER – If “None,” so indicate] 
 BUSINESS PREMISES 
 [TO BE PROVIDED BY BORROWER – indicate street address and landlord contact information] 
  

					
	 	 	 Each Location Address where Lighthouse
 Capital Partners has financed assets:
	 	 Landlord/Property Management
 Information:

	 Current
     Headquarters
         (Location 1)
	 	 Contact Name:
 Address:
  
 City, State, Zip:
 Phone:
 Fax:
	 	 Contact Name:
 Company Name:
 Address:
  
 City, State, Zip:
 Phone:
 Fax:

			
	         Location
     2
	 	 Contact Name:
 Company Name:
 Address:
  
 City, State, Zip:
 Phone:
 Fax:

	 	 Contact Name:
 Company Name:
 Address:
  
 City, State, Zip:
 Phone:
 Fax:

			
	         Location
     3
	 	 Contact Name:
 Company Name:
 Address:
  
 City, State, Zip:
 Phone:
 Fax:

	 	 Contact Name:
 Company Name:
 Address:
  
 City, State, Zip:
 Phone:
 Fax:

  

 2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]