Document:

EX-10.01

 Exhibit 10.01 

2014 MANAGEMENT BONUS PLAN 
 The President
and CEO, all executives who report to the President and CEO of Meru Networks, Inc. (the “Company”), and certain other executives who do not otherwise receive variable compensation will be eligible to participate in this cash bonus plan and
who have been notified of their eligibility by the Committee (as defined below) (this “Plan”). 
  

	A.	ANNUAL CASH BONUS PLAN 

 The cash bonus available will be calculated annually based on a
percentage of an executive’s base salary upon the Company’s achievement of revenue targets and non-GAAP EBITA targets1, as described below, as
well as, for executives other than the CEO, CFO and Senior Vice President of Worldwide Sales and Field Operations (“SVP Sales”), individual performance against objectives (collectively, the “Annual Cash Bonus”). Following the end
of each quarter, the Revenue Bonus will be calculated and paid based on the Company’s achievement of quarterly revenue targets (or in some circumstances
year-to-date target achievement), with such payment not to exceed 100% of the executive’s targeted year-to-date revenue bonus, subject to the terms described below
and irrespective of whether the non-GAAP EBITA targets were met. Following the end of the year, the annual cash bonus available is calculated and paid based upon the Company’s achievement of annual
revenue targets and non-GAAP EBITA1 compared to the annual target objectives (without duplication of amounts previously paid for revenue achievement). The
Revenue Bonus element of the Annual Cash Bonus will be awarded based on revenue performance irrespective of whether the Minimum Non-GAAP EBITA threshold has been met (subtracting amounts previously paid for
the quarterly revenue achievement), and the Non-GAAP EBITA bonus will be awarded irrespective of whether the revenue target is achieved. In addition, except for the Company’s CEO, CFO and SVP Sales, a
portion of the Annual Cash Bonus will be awarded based upon executive’s performance against certain objectives as reasonably determined by the Company’s CEO, and approved by the Company’s Compensation Committee (the
“Committee”). The executive may earn more or less than his or her target bonus based on achievement of the performance goals; provided, however that the total bonus amount2 shall not
exceed 200% of the executive’s targeted bonus value. 
 The following table provides the percentage of the executive’s base salary that is such
executive’s targeted annual bonus value. 
  

					
	 Executive Officer
	  	Percentage of Annual Salary	 
	 President and Chief Executive Officer (CEO)
	  	 	100	% 
	 Chief Financial Officer (CFO)
	  	 	50	% 
	 Senior Vice President Sales & Services
	  	 	118	% 
	 Senior Vice Presidents (includes GM’s and General Counsel)
	  	 	45	% 
	 Vice Presidents (Exec Level)
	  	 	40	% 

  

	I.	Revenue Bonus 

 50% of the overall target bonus award for the CEO and CFO, 60% of the overall target
bonus award for the SVP Sales, and 40% of the overall target bonus award to the other executives, is tied to achievement 
  

	1 	The non-GAAP EBITA targets and determination of achievement exclude items the Company excludes from their non-GAAP EBITA calculations for their financial reports, but include the
impact of any bonuses determined under the Plan. 

	2 	The total bonus amount equals the aggregate of the Revenue Bonus (as defined below), the Non-GAAP EBITA Bonus (as defined below), and for executives other than the CEO, CFO and
SVP Sales, the Management Objective Bonus (as defined below). The Revenue Bonus and Non-GAAP EBITA Bonus shall not exceed 200% of the applicable target bonus value. 

 
of the revenue target as described in the Company’s operating plan as approved by the board of directors (the “Revenue Bonus”). In order for any amounts to be payable under the
Revenue Bonus, the revenue target must be met at a level of at least 96.3% of the target. For achievement between 96.3% and 100.0% of the revenue target, the Revenue Bonus will start at a payout of 80% of the target Revenue Bonus amount and will
increase on a straight-line basis according to the percentage of achievement up to 100%.3 

The executives are also eligible to receive an increased Revenue Bonus if the Company’s revenue exceeds the revenue target as follows: (a) for
achievement above 100.0% and up to 114.9% of the revenue target, the Revenue Bonus will start at a payout of 100% of the target Revenue Bonus amount and will increase on a straight-line basis according to the percentage of achievement up to 150%;
and (b) for achievement above 114.9% and up to 127.3% of the revenue target, the Revenue Bonus will start at a payout of 150% of the target Revenue Bonus amount and will increase on a straight-line basis according to the percentage of
achievement up to 200% of the target Revenue Bonus.4 
 A pro rata portion of the annual Revenue Bonus,
if any is achieved, shall be paid quarterly following each of the Company’s quarterly earnings announcements based on the year-to-date achievement of the quarterly revenue plan. If the year-to-date revenue threshold is not met for particular
quarter(s), but in a subsequent quarter the cumulative year-to-date threshold is achieved, then the pro rata annual Revenue Bonus payment shall be made based upon the year-to-date percentage of attainment, with such payment not to exceed 100% of the executive’s targeted
year-to-date Revenue Bonus (less any Revenue Bonus already paid).5 Following the Company’s earnings
announcement covering the full year 2014, the executives may receive a Revenue Bonus based on the criteria set forth in the two prior paragraphs less the amount of any Revenue Bonus payments made pursuant to this paragraph. 

 

	II.	Non-GAAP EBITA Bonus 

 50% of the overall target bonus award for
the CEO and CFO and 40% of the overall target bonus award for each other executive, is tied to non-GAAP EBITA6 (the
“Non-GAAP EBITA Bonus”). In order for the Non-GAAP EBITA Bonus to be paid, the Company must achieve the minimum
Non-GAAP EBITA target as approved by the Committee (the “Minimum Non-GAAP EBITA Amount”)7. Upon
achievement of the Minimum Non-GAAP EBITA, the amount of the Non-GAAP EBITA Bonus will be calculated on a straight line basis starting at 50% of the target Non-GAAP EBITA Bonus upon achievement of the Minimum Non-GAAP EBITA Amount and up to 100% of the target Non-GAAP EBITA Bonus upon
achievement of 100.0% the fiscal Non-GAAP EBITA target under the Company’s operating plan (the “Target Non-GAAP EBITA Amount”).8 
  

	3 	For example, in the event that the annual revenue is achieved at the 96.3% of target level, the Revenue Bonuses will be paid at 80% of the target Revenue Bonus amount such that the Revenue Bonus paid to the
Company’s Chief Financial Officer would equal 80% multiplied by 50% multiplied by 50% multiplied by the Chief Financial Officer’s annual salary. 

	4 	For example, in the event that the Company’s actual revenue is 114.9% of the annual revenue target, the Revenue Bonus will be paid at 150% of the target Revenue Bonus amount such that the Revenue Bonus paid to the
Company’s Chief Financial Officer would equal 150% multiplied by 50% multiplied by 50% multiplied by the Chief Financial Officer’s annual salary. 

	5 	For example, in the first quarter if the quarterly revenue goal is achieved at 110.0%, the Company’s Chief Financial Officer will receive a quarterly payment for the Revenue Bonus equal to 25% multiplied by 100%
multiplied by 50% multiplied by the Chief Financial Officer’s annual salary. 

	6 	After giving effect to (i) the Revenue Bonus, (ii) the Non-GAAP EBITA Bonus, and (iii) the MBO Bonus, each as adjusted for any applicable accelerator.

	7 	The Minimum Non-GAAP EBITA Amount shall equal $3.43 million less than the Target Non-GAAP EBITA Amount. 

	8 	For example, in the event that non-GAAP EBITA is achieved at the midway point between the Minimum Non-GAAP EBITA Amount and the Target
Non-GAAP EBITA Amount, the Non-GAAP EBITA Bonus will be paid at 75% of the target Non-GAAP EBITA Bonus amount, such that the Non-GAAP EBITA Bonus paid to the Company’s Chief Financial Officer would equal
75% multiplied by 50% multiplied by 50% multiplied by the Chief Financial Officer’s annual salary. 

 The executives are also eligible to receive an increased Non-GAAP EBITA Bonus if the Company’s non-GAAP
EBITA exceeds the Target Non-GAAP EBITA Amount as follows: (a) for achievement above 100.0% and up to 230.2% of the Target Non-GAAP EBITA Amount, the Non-GAAP EBITA
Bonus will start at a payout of 100% of the target Non-GAAP EBITA Bonus and will increase on a straight-line basis according to the percentage of achievement up to 150% target
Non-GAAP EBITA Bonus; and (b) for achievement above 230.2% and up to 382.1% of the Target Non-GAAP EBITA Amount, the Non-GAAP EBITA Bonus will start at a payout of
150% of the target Non-GAAP EBITA Bonus and will increase on a straight-line basis according to the percentage of achievement up to 200% of the target Non-GAAP EBITA
Bonus.9 
  

	III.	Management Objective Bonus 

 20% of the overall target bonus award for eligible executives other than the
CEO, CFO and SVP Sales shall be tied to performance by the executive against management objectives as reasonably determined in writing by the Company’s CEO and reported to the Chair of the Committee (each an “MBO Bonus”). The
Company’s CEO shall determine achievement against the specific objectives, with such achievement to be approved by the Company’s Compensation Committee, and with such achievement not to exceed 100% for this portion of the Annual Cash
Bonus.10 
  

	B.	GENERAL 

 The Committee will be responsible for the general administration and interpretation of
this Plan and for carrying out its provisions, including the authority to construe and interpret the terms of this Plan, determine the manner and time of payment of any Annual Cash Bonuses, prescribe any necessary procedures for distribution of
Annual Cash Bonuses and adopt rules, regulations and to take such actions as it deems necessary or desirable for the proper administration of this Plan. The Committee, in its sole discretion and on such terms and conditions as it may provide, may
delegate all or part of its authority and powers under the Plan to one or more directors and/or officers of the Company. 
 Any rule or decision by the
Committee or its delegate(s) that is not inconsistent with the provisions of this Plan shall be conclusive and binding on all persons, and shall be given the maximum deference permitted by law. 

The Committee may amend, modify, suspend or terminate this Plan, in whole or in part, at any time, including the adoption of amendments deemed necessary or
desirable to correct any defect or to supply omitted data or to reconcile any inconsistency in this Plan or in any Annual Cash Bonus awarded hereunder. Moreover, the Committee may pay up to 50% of any bonus described under this Plan in fully vested
restricted stock units (“RSUs”). In the event the Committee pays a portion of any bonus with fully vested RSUs, the Committee shall apply a 10% liquidity uplift to its calculations. For any bonus payment made under this Plan, an executive
officer shall be eligible to receive payment if the executive officer is employed by the Company on the date such payment is actually made. 

Notwithstanding any other provision hereof or any other agreement between the Company and any participant, the Company may, in its sole discretion, implement
any recoupment or clawback policies or make any changes to any of the Company’s existing recoupment or clawback policies, as the Company deems necessary or advisable in order to comply with applicable law or regulatory guidance (including,
without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules of the SEC or a stock exchange or similar body implemented pursuant thereto that is applicable to the Company),
and any Annual Cash Bonuses (including, for avoidance of doubt, any quarterly portion) awarded under this Plan is subject to the terms and conditions of any such recoupment or clawback policies (as as may be adopted, amended or restated from time to
time). 
  

	9 	For example, in the event that the Company’s actual non-GAAP EBITA is 230.2% of Target Non-GAAP EBITA Amount, the Non-GAAP EBITA Bonus will be paid at 150% of the target Non-GAAP EBITA Bonus, such that the Non-GAAP EBITA Bonus paid to the Company’s Chief Financial Officer would equal
150% multiplied by 50% multiplied by 50% multiplied by the Chief Financial Officer’s annual salary. 

	10 	For example, in the event that the Management Objectives are reached at a level of 75%, the Management Objective Bonus paid to the Company’s General Counsel would equal 75% multiplied by 20% multiplied by 45%
multiplied by the General Counsel’s annual salary.EX-10.18

 Exhibit 10.18 

PROMISSORY NOTE 
  

															
	
Principal

$1,500,000.00
	 	 Loan Date

01-28-2014
	 	 Maturity

01-28-2015
	 	 Loan No

200148907
	 	 Call / Coll

4A / 25
	 	 Account

AAA2435
	 	 Officer

CAC
	 	
Initials
 

	
References in the boxes above are for Lender’s use only and do not limit the applicability of this document to any particular loan or
item.
 Any item above containing “ * * * ” has been omitted due to text length limitations.

  

							
	Borrower:	  	Arete Industries, Inc.	  	Lender:	  	Citywide Banks
		  	P O Box 141	  		  	PO Box 128
		  	Westminster, CO 80036-0141	  		  	 Aurora, CO 80040-0128
 (303)
365-3600

  
  

 
  

			
	Principal Amount: $1,500,000.00	 	Date of Note: January 28, 2014

 PROMISE TO PAY. Arete Industries, Inc. (“Borrower”) promises to pay to Citywide Banks (“Lender”), or
order, in lawful money of the United States of America, the principal amount of One Million Five Hundred Thousand & 00/100 Dollars ($1,500,000.00) or so much as may be outstanding, together with interest on the unpaid outstanding principal
balance of each advance. Interest shall be calculated from the date of each advance until repayment of each advance. 
 PAYMENT. Borrower will pay
this loan in one payment of all outstanding principal plus all accrued unpaid interest on January 28, 2015. In addition, Borrower will pay regular monthly payments of all accrued unpaid interest due as of each payment date, beginning
February 28, 2014, with all subsequent interest payments to be due on the last day of each month after that. Unless otherwise agreed or required by applicable law, payments will be applied first to any accrued unpaid interest; then to
principal; then to any unpaid collection costs; and then to any late charges. Borrower will pay Lender at Lender’s address shown above or at such other place as Lender may designate in writing. 

VARIABLE INTEREST RATE. The interest rate on this Note is subject to change from time to time based on changes in an independent index which is the The
Prime Rate as Published in the Wall Street Journal (the “Index”). The Index is not necessarily the lowest rate charged by Lender on its loans. If the Index becomes unavailable during the term of this loan, Lender may designate a substitute
index after notifying Borrower. Lender will tell Borrower the current Index rate upon Borrower’s request. The interest rate change will not occur more often than each Day. Borrower understands that Lender may make loans based on other rates as
well. The Index currently is 3.250% per annum. Interest on the unpaid principal balance of this Note will be calculated as described in the “INTEREST CALCULATION METHOD” paragraph using a rate of 1.000 percentage point over the
Index, adjusted if necessary for any minimum and maximum rate limitations described below, resulting in an initial rate of 6.500% per annum based on a year of 360 days. NOTICE: Under no circumstances will the interest rate on this Note be less
than 6.500% per annum or more than the maximum rate allowed by applicable law. 
 INTEREST CALCULATION METHOD. Interest on this Note is computed on
a 365/360 basis; that is, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under
this Note is computed using this method. 
 PREPAYMENT; MINIMUM INTEREST CHARGE. Borrower agrees that all loan fees and other prepaid finance
charges are earned fully as of the date of the loan and will not be subject to refund upon early payment (whether voluntary or as a result of default), except as otherwise required by law. In any event, even upon full prepayment of this Note,
Borrower understands that Lender is entitled to a minimum interest charge of $25.00. Other than Borrower’s obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is
due. Early payments will not, unless agreed to by Lender in writing, relieve Borrower of Borrower’s obligation to continue to make payments of accrued unpaid interest. Rather, early payments will reduce the principal balance due. Borrower
agrees not to send Lender payments marked “paid in full”, “without recourse”, or similar language. If Borrower sends such a payment, Lender may accept it without losing any of Lender’s rights under this Note, and Borrower
will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes “payment in full” of the
amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Citywide Banks, PO Box 128, Aurora, CO 80040-0128. 

LATE CHARGE. If a payment is 10 days or more late, Borrower will be charged 5.000% of the regularly scheduled payment. 

INTEREST AFTER DEFAULT. Upon default, at Lender’s option, and if permitted by applicable law, Lender may add any unpaid accrued interest to
principal and such sum will bear interest therefrom until paid at the rate provided in this Note (including any increased rate). Upon default, the interest rate on this Note shall be increased to 21.000% per annum based on a year of 360 days.
However, in no event will the interest rate exceed the maximum interest rate limitations under applicable law. 
 DEFAULT. Each of the following
shall constitute an event of default (“Event of Default”) under this Note: 
 Payment Default. Borrower fails to make any
payment when due under this Note. 
 Other Defaults. Borrower fails to comply with or to perform any other term, obligation, covenant
or condition contained in this Note or in any of the related documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement between Lender and Borrower. 

Default in Favor of Third Parties. Borrower or any Grantor defaults under any loan, extension of credit, security agreement, purchase or
sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower’s property or Borrower’s ability to repay this Note or perform Borrower’s obligations under this Note or any
of the related documents. 
 False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on
Borrower’s behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter. 

Insolvency. The dissolution or termination of Borrower’s existence as a going business, the insolvency of Borrower, the appointment
of a receiver for any part of Borrower’s property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower. 

Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help,
repossession or any other method, by any creditor of Borrower or by any governmental agency against any collateral securing the loan. This includes a garnishment of any of Borrower’s accounts, including deposit accounts, with Lender. However,
this Event of Default shall not apply if there is a good faith dispute by Borrower as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower gives Lender written notice of the
creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute. 

Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the indebtedness or any Guarantor
dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any guaranty of the indebtedness evidenced by this Note. 

Change In Ownership. Any change in ownership of twenty-five percent (25%) or more of the common stock of Borrower. 

Adverse Change. A material adverse change occurs in Borrower’s financial condition, or Lender believes the prospect of payment or
performance of this Note is impaired. 
 Insecurity. Lender in good faith believes itself insecure. 

LENDER’S RIGHTS. Upon default, Lender may declare the entire unpaid principal balance under this Note and all accrued unpaid interest immediately
due, and then Borrower will pay that amount. 
 ATTORNEYS’ FEES; EXPENSES. Lender may hire or pay someone else to help collect this Note if
Borrower does not pay. Borrower will pay Lender the reasonable costs of such collection. This includes, subject to any limits under applicable law, Lender’s attorneys’ fees and Lender’s legal expenses, whether or not there is a
lawsuit, including without limitation attorneys’ fees and legal expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), and appeals. If not prohibited by applicable law, Borrower also will
pay any court costs, in addition to all other sums provided by law. 
 JURY WAIVER. Lender and Borrower hereby waive the right to any jury trial in any
action, proceeding, or counterclaim brought by either Lender or Borrower against the other. 
 GOVERNING LAW. This Note will be governed by federal
law applicable to Lender and, to the extent not preempted by federal law, the laws of the State of Colorado without regard to its conflicts of law provisions. This Note has been accepted by Lender in the State of Colorado. 

RIGHT OF SETOFF. To the extent permitted by applicable law, Lender reserves a right of setoff in all Borrower’s accounts with Lender (whether
checking, savings, or some other account). This includes all accounts Borrower holds jointly with someone else and all accounts Borrower may open in the future. However, this does not include any IRA or Keogh accounts, or any trust accounts for
which setoff would be prohibited by law. Borrower authorizes Lender, to the extent permitted by applicable law, to charge or setoff all sums owing on the indebtedness against any and all such accounts. 

					
	Loan No: 200148907	 	 PROMISSORY NOTE

(Continued) 
	 	Page 2

  

  

 
 LINE OF CREDIT. This Note evidences a
revolving line of credit. Advances under this Note may be requested either orally or in writing by Borrower or as provided in this paragraph. All oral requests shall be confirmed in writing on the day of the request, on forms acceptable to Lender.
All communications, instructions, or directions by telephone or otherwise to Lender are to be directed to Lender’s office shown above. The following person or persons are authorized to request advances and authorize payments under the line of
credit until Lender receives from Borrower, at Lender’s address shown above, written notice of revocation of such authority: Nicholas L. Scheidt, CEO of Arete Industries, Inc. Borrower agrees to be liable for all sums either: (A) advanced in
accordance with the instructions of an authorized person or (B) credited to any of Borrower’s accounts with Lender. The unpaid principal balance owing on this Note at any time may be evidenced by endorsements on this Note or by
Lender’s internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Note if: (A) Borrower or any guarantor is in default under the terms of this Note or any agreement that Borrower or any
guarantor has with Lender, including any agreement made in connection with the signing of this Note; (B) Borrower or any guarantor ceases doing business or is insolvent; (C) any guarantor seeks, claims or otherwise attempts to limit, modify or
revoke such guarantor’s guarantee of this Note or any other loan with Lender; (D) Borrower has applied funds provided pursuant to this Note for purposes other than those authorized by Lender; or (E) Lender in good faith believes itself
insecure. 
 SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower’s heirs, personal representatives,
successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. 
 NOTIFY US OF INACCURATE INFORMATION WE REPORT TO
CONSUMER REPORTING AGENCIES. Borrower may notify Lender if Lender reports any inaccurate information about Borrower’s account(s) to a consumer reporting agency. Borrower’s written notice describing the specific inaccuracy(ies) should
be sent to Lender at the following address: Citywide Banks Operations Center PO Box 128 Aurora, CO 80040-0128. 
 GENERAL PROVISIONS. If any part of
this Note cannot be enforced, this fact will not affect the rest of the Note. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this
Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker,
guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail
to realize upon or perfect Lender’s security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the
consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. 
 PRIOR
TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. 

BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. 

BORROWER: 
  

			
	ARETE INDUSTRIES, INC.
		
	By:	 	/s/ Nicholas L. Scheidt
		 	Nicholas L. Scheidt, CEO of Arete Industries, Inc.

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