Document:

Exhibit

Exhibit 10.3

THIRD AMENDMENT TO DEED OF OFFICE LEASE AGREEMENT

THIS THIRD AMENDMENT TO DEED OF OFFICE LEASE AGREEMENT (this “Amendment”) is made as of May 6, 2016 (“Effective Date”) by and between MARSHALL PROPERTY LLC, a Delaware limited liability company (“Landlord”), and ALARM.COM INCORPORATED, a Delaware corporation (“Tenant”).  
RECITALS
R-1    Pursuant to that certain Deed of Office Lease Agreement dated August 8, 2014, as amended by that certain First Amendment to Deed of Office Lease Agreement dated as of May 29, 2015 but not fully executed until June 8, 2015, and that certain Second Amendment to Deed of Office Lease Agreement dated as of October 19, 2015 (collectively, as amended, the “Lease”), Landlord is currently leasing to Tenant and Tenant is currently leasing from Landlord an “agreed upon” one hundred six thousand two hundred fifty-one (106,251) square feet of rentable area, comprised of (a) twelve thousand two hundred seventy-nine (12,279) rentable square feet on the first (1st) floor, and (b) twenty-three thousand four hundred ninety-three (23,493) rentable square feet on each of the eighth (8th), ninth (9th), tenth (10th), and eleventh (11th) floors (collectively, the “Original Premises”) of the building located at 8281 Greensboro Drive, Tysons, Virginia 22102 (the “Building”), as more particularly described in the Lease.  The Lease Term is scheduled to expire on June 30, 2026.
R-2    Landlord and Tenant desire to amend the Lease to add the entire fifth (5th) floor of the Building (the “Second Expansion Premises”) to the Original Premises, provide for Tenant’s short term leasing of a portion of the third floor and to otherwise amend the Lease, subject to and in accordance with the terms and conditions set forth in this Amendment.
R-3    Except as otherwise defined herein, all terms and phrases used in this Amendment that are defined in the Lease shall have the same meaning as set forth in the Lease.  In the event of any conflict between the Lease and this Amendment, the terms of this Amendment shall control.
COVENANTS
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1.Recitals.  The foregoing Recitals are true and correct and are incorporated herein by reference.

2.Addition of Second Expansion Premises.  Effective as of the Second Expansion Premises Commencement Date (as hereinafter defined), the Second Expansion Premises, which contains an “agreed upon” twenty-three thousand four hundred ninety-three (23,493) square feet of rentable area on the fifth (5th) floor of the Building as depicted on the diagram attached hereto as Attachment A, shall be added to the Original Premises.  From and after the Second Expansion Premises Commencement Date, the rentable area of the Original Premises and the Second Expansion Premises (collectively, the “Premises”) shall consist of an “agreed upon” one hundred twenty-nine thousand seven hundred forty-four (129,744) square feet of rentable area on the first (1st), fifth (5th), eighth (8th), ninth (9th), tenth (10th), and eleventh (11th) floors of the Building.  Landlord hereby leases to Tenant and Tenant hereby rents from Landlord the Second Expansion Premises, subject to and in accordance with the terms and conditions of this Amendment.  On the Second Expansion Premises Commencement Date, the Second Expansion Premises shall become part of the Premises and, except as otherwise provided in this Amendment, be subject to all the then-current terms and conditions of the Lease for the remainder of the Lease Term.

3.Second Expansion Premises Commencement Date.  The “Second Expansion Premises Commencement Date” shall be January 1, 2017.   Landlord shall deliver the Second Expansion Premises to Tenant in “as-is” condition, broom clean and free of personal property. Landlord shall be responsible to ensure that the Base Building systems (as defined in the Lease) serving the Premises are in good working order as of the delivery date for the Second Expansion Premises. Landlord shall deliver the Second Expansion Premises to Tenant promptly after this Amendment is fully executed and delivered.   All of the terms and conditions of the Lease, as amended hereby, shall apply with respect to the Second Expansion Premises from and after such delivery date, including, without limitation, the insurance and indemnity provisions, and the fact that the Second Expansion Premises Base Rent shall commence on the Second Expansion Premises Commencement Date.

4.Rent.  
(a)    From and after the Second Expansion Premises Commencement Date, Tenant shall pay to Landlord, without setoff, deduction, or demand, in addition to annual Base Rent for the Original Premises as provided in the Lease, base rent for the Second Expansion Premises (“Second Expansion Premises Base Rent”) as provided below, subject to the abatement provided below.  The annual Second Expansion Premises Base Rent shall be part of the Rent under the Lease, and shall be payable in equal monthly installments in accordance with the terms and conditions set forth in Section 5.01 of the Lease.  

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	Time Period

	Second Expansion Premises Base Rent Per Rentable Square Foot of Second Expansion Premises

	Monthly Installment of Second Expansion Premises Base Rent

	Annual Second Expansion Premises Base Rent

	1/1/17-12/31-17
	$32.50
	$63,626.88
	$763,522.50

	1/1/18-12/31/18
	$33.31
	$65,212.65
	$782,551.83

	1/1/19-12/31/19
	$34.14
	$66,837.59
	$802,051.02

	1/1/20-12/31/20
	$34.99
	$68,501.67
	$822,020.07

	1/1/21-12/31/21
	$35.86
	$70,204.92
	$842,458.98

	1/1/22-12/31/22
	$36.76
	$71,966.89
	$863,602.68

	1/1/23-12/31/23
	$37.68
	$73,768.02
	$885,216.24

	1/1/24-12/31/24
	$38.62
	$75,608.31
	$907,299.66

	1/1/25-12/31/25
	$39.59
	$77,507.32
	$930,087.87

	1/1/26-6/30/26
	$40.58
	$79,445.50
	n/a

(b)    Notwithstanding the foregoing, provided no Default then exists under the Lease, Landlord shall abate the monthly Second Expansion Premises Base Rent payable only as follows: (i) one hundred percent (100%) of the monthly Second Expansion Premises Base Rent payable shall be abated for the period commencing on January 1, 2017 and ending on September 30, 2017, and (ii) fifty percent (50%) of the monthly Second Expansion Premises Base Rent payable shall be abated for the period commencing on October 1, 2017 and ending on March 31, 2018.  
(c)    In addition to the Second Expansion Premises Base Rent set forth above, Tenant shall continue to pay to Landlord any and all other amounts required to be paid pursuant to the terms of the Lease (including, but not limited to, Base Rent for the remainder of the Premises, and Tenant’s Pro Rata Share of increases in Expenses and Taxes).  No abatement, allowance, or other concession whatsoever shall apply to the Second Expansion Premises or this Amendment except as expressly set forth in Paragraph 4(b) above and the Work Letter referred to in Paragraph 6 below.  

5.    Expenses and Taxes.  From and after the Second Expansion Premises Commencement Date, Tenant shall pay Tenant’s Pro Rata Share of increases in Expenses and Taxes with respect to the Second Expansion Premises; provided, however, that with respect only to the Second Expansion Premises, the Base Year for Expenses and Taxes shall be calendar year 2017.  As of the Second Expansion Premises Commencement Date, Tenant’s pro rata share of increases in Expenses and Taxes with respect only to the Second Expansion Premises is nine and eleven hundredths percent (9.11%) (based on a Total Rentable Area of the Building of two hundred fifty-seven thousand eight hundred twenty-four (257,824)), and Tenant’s Pro Rata Share with respect to the entire Premises is fifty and thirty-two hundredths percent (50.32%). 

6.    Condition.    Landlord shall have no obligation whatsoever to make any Alterations (as defined in Section 11.03 of the Lease) or improvements in or to any part of the Second Expansion Premises or the Original Premises.  All improvements to the Second Expansion Premises shall be accomplished by Tenant in accordance with the Work Letter attached hereto as Attachment B. 

    
7.    Parking.  From and after the Second Expansion Premises Commencement Date, Tenant shall have the right to seventy-six (76) additional unreserved Parking Permits (based on the parking share for the Second Expansion Premises of three and one-quarter (3.25) spaces per one thousand (1,000) rentable square feet in the Second Expansion Premises) in the Garage adjacent to the Building, subject to and in accordance with Section 28 of the Lease, which amount shall be added to and become part of Tenant’s Parking Share.  Tenant previously converted ten (10) of the Parking Permits from Tenant’s Parking Share to permits for reserved parking in the Garage (the “Reserved Garage Permits”).  Notwithstanding anything to the contrary contained in the Lease, Tenant hereby elects to convert an additional ten (10) parking permits (from among Tenant’s allocation of Parking Permits for the Second Expansion Premises) for reserved parking spaces on the surface lot adjacent to the Building (the “Reserved Surface Spaces”).  The location of the Reserved Surface Spaces in such surface lot shall be as shown on Attachment C, however, Landlord may relocate the Reserved Surface Spaces from time to time to other locations on the surface lot designated by Landlord, by providing at least thirty (30) days prior written notice to Tenant.  Commencing on May 1, 2016 Tenant shall pay for such Reserved Surface Spaces at Landlord’s then-current market rate charge therefor (currently $75 per space per month), which rate is subject to increase from time to time.  Landlord currently provides an 

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attendant on the surface lot to address unauthorized parking, however Landlord shall not be responsible for monitoring the use of such Reserved Surface Spaces.  The procedure for unauthorized use as provided in the Lease for reserved spaces shall apply to the spaces on the surface lot.
Landlord’s right to use the Garage is through a parking agreement with the adjacent property owner.  Subject to such owner’s approval, Tenant may engage a parking consultant, at Tenant’s sole cost, to review potential solutions to assist with parking in the Garage.  Neither Landlord nor such owner shall have any obligation to incorporate any changes that may be identified by Tenant’s parking consultant.
8.    Signage.  Tenant has installed one exterior Top of Building Sign (as defined in the Lease) on the Building of approximately 150 square feet.  Paragraph 9A (Exterior Building Signage) of Exhibit F to the Lease is hereby amended to provide that so long as Tenant (a) leases and occupies a minimum of 117,465 rentable square feet in the Building, and (b) is not in default of its covenants and obligations under the Lease after notice thereof and expiration of any applicable cure period, and (c) has not assigned this Lease, other than to an Affiliated Entity and/or Permitted Successor, then Tenant shall be entitled to install one additional Building Sign (that is not greater than 100 square feet) in  accordance with the terms of this Section 9A of the Lease.  Notwithstanding the foregoing, if Tenant has installed a second exterior Building sign pursuant to this Section, and Tenant thereafter subleases 12,279 rentable square feet or more other than to an Affiliated Entity and/or Permitted Successor (collectively, a “Third Party Sublease”), or if any of the other conditions set forth in clauses (a) through (c) above are not satisfied, then Tenant’s rights to such second exterior sign shall be void and without force or effect.   Tenant’s rights under this Section are personal to the initial Tenant named herein and may not be exercised by any subtenant or assignee of such Tenant (other than an assignee that is an Affiliated Entity or a Permitted Successor).  If Tenant has not installed the second Top of Building Sign by the second anniversary of the Second Expansion Premises Commencement Date, then Tenant’s rights with respect to such additional sign under this Paragraph shall lapse and expire.  

            9.            Third Floor Spec Suite.  Notwithstanding anything to the contrary contained in the Lease (including without limitation Paragraph 4 of Exhibit F of the Lease), for the period (the “Spec Suite Term”) commencing on May 9, 2016 (the “Spec Suite Commencement Date”) and expiring on May 8, 2017 (the “Spec Suite Expiration Date”), Tenant shall lease an “agreed upon” six thousand three hundred sixty-four (6,364) rentable square feet of space located on the third (3rd) floor of the Building and known as Suite 310 (the “Third Floor Spec Suite”), as depicted on the diagram attached hereto as Attachment D, subject to and in accordance with the terms and conditions set forth in this Paragraph and in the Lease.  Not later than the Spec Suite Expiration Date Tenant shall surrender the Third Floor Spec Suite to Landlord in the same condition in which it was delivered to Tenant (without showing wear and tear), including, without limitation, all improvements and finishes (including carpeting, flooring, and wall covering) and the location and condition of all Furniture therein.

(a)Commencing on the Spec Suite Commencement Date and continuing throughout the Spec Suite Term, Tenant shall pay to Landlord, without setoff, deduction, abatement or demand, in addition to annual Base Rent for the Original Premises and the Second Expansion Premises Base Rent, base rent for the Third Floor Spec Suite (the “Spec Suite Base Rent”) in the amount of Thirty-Four and 00/100 Dollars ($34.00) per square foot of rentable area in the Third Floor Spec Suite.  The Spec Suite Base Rent shall be part of the Rent under the Lease and shall be payable in equal monthly installments of Eighteen Thousand Thirty-One and 33/100 Dollars ($18,031.33) each in accordance with the terms and conditions for the payment of Rent set forth in Section 5.01 of the Lease.  No abatement shall apply with respect to the Spec Suite Base Rent.

(b)Tenant shall accept the Third Floor Spec Suite in its “as is” condition, broom clean. Landlord shall be responsible to ensure that the Base Building systems (as defined in the Lease, e.g., mechanical, electrical, and plumbing systems) serving the Premises are in good working order as of the delivery date of the Third Floor Spec Suite.  Landlord shall make the Third Floor Spec Suite available to Tenant upon the full execution and delivery of this Amendment for Tenant to begin preparing same for its occupancy.   Landlord shall have no obligation (and Tenant shall have no right) whatsoever to make any Alterations (as defined in Section 11.03 of the Lease) or improvements in or to any part of the Third Floor Spec Suite.  Notwithstanding the foregoing, Tenant shall have the right to remove the partitions in the area designated on Exhibit F as the Partition Removal Area; however not later than the last day of the Spec Suite Term, Tenant shall, at its sole cost, restore such area to exactly the same condition as existing on the date hereof, including the finishes and details set forth on Exhibit D-2 and as shown in the photo attached as page two of Exhibit D-2.  No improvements or other allowance whatsoever shall be applicable to the Third Floor Spec Suite.  

(c)During the Spec Suite Term, at no additional cost to Tenant, Landlord shall lease to Tenant for use in the Third Floor Spec Suite in connection with the conduct of Tenant's business therein, all of the furniture, fixtures and equipment listed on Attachment E attached hereto (the “Furniture”) in its “as is” condition as of the Spec Suite Commencement Date.  Tenant, at Tenant's sole cost and expense, shall throughout the Spec Suite Term maintain the Furniture in clean, sanitary and good operating condition, shall take good care thereof and shall make all required repairs thereto, all in a manner commensurate with the standards, style, image and operation of the Building as a first class office building and in accordance with industry guidelines and manufacturers’ recommendations.  The Furniture shall remain the property of Landlord and shall not be subject to the lien of any lender or creditor of Tenant.  Tenant shall not at any time sell, transfer or remove any of the Furniture from the Third Floor Spec Suite.  Upon the expiration 

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or earlier termination of the Spec Suite Term, the Furniture shall remain at the Third Floor Spec Suite and be surrendered by Tenant in the same condition than which the Furniture was delivered to Tenant.  Periodically throughout the Spec Suite Term, Landlord shall have the right to conduct an inventory of the Furniture and inspect the Furniture to ensure that Tenant is complying with its obligations under this Amendment.  Tenant shall obtain and maintain all risk property insurance insuring the Furniture.

(d)In addition to and notwithstanding the provisions of Section 7 above, from and after the Spec Suite Commencement Date continuing through the expiration of the Spec Suite Term, Tenant shall have the right to twenty-one (21) additional unreserved Parking Permits (based on the parking share for the Third Floor Spec Suite of three and one-quarter (3.25) spaces per one thousand (1,000) rentable square feet in the Third Floor Spec Suite) in the Garage adjacent to the Building, subject to and in accordance with Section 28 of the Lease, which amount shall be added to and become part of Tenant’s Parking Share during the Spec Suite Term.  
 
(e)Provided that (i) there does not exist a Monetary Default or a material non-monetary Default by Tenant under the Lease, and (ii) Tenant has not assigned the Lease, other than to an Affiliated Entity or a Permitted Successor, both as of the time of option exercise and as of the commencement of the hereinafter described Spec Suite Extension Term, Tenant shall have the option (“Spec Suite Extension Option”) to extend the Spec Suite Term for one (1) additional three (3) year period (“Spec Suite Extension Term”), the additional term commencing as of the expiration of the initial Spec Suite Term.  Tenant may exercise its Spec Suite Extension Option by giving Landlord written notice (“Spec Suite Extension Option Notice”) not later than January 13, 2017.  Upon the timely giving of such Spec Suite Extension Option Notice, the Spec Suite Term shall be deemed extended upon all of the terms and conditions of the Lease (as amended hereby).  If Tenant fails to give timely notice, as aforesaid, Tenant shall have no further right to extend the Spec Suite Term, time being of the essence for this Paragraph.

(1)Commencing on the first day of the Spec Suite Extension Term (the “Spec Suite Extension Commencement Date”), the Spec Suite Base Rent shall be Thirty-Four and 93/100 Dollars ($34.93) per square foot of rentable area in the Third Floor Spec Suite.  On each anniversary of the Spec Suite Extension Commencement Date, the Spec Suite Base Rent shall increase by an amount equal to two and three-quarters percent (2.75%) of the Spec Suite Base Rent then in effect. 

(2)From and after the Spec Suite Extension Commencement Date, Tenant shall pay Tenant’s pro rata share of increases in Expenses and Taxes with respect to the Third Floor Spec Suite; provided, however, that with respect only to the Third Floor Spec Suite, the Base Year for Expenses and Taxes shall be calendar year 2017.  

(3)If Tenant timely exercises the right to extend the Lease with respect to the Third Floor Spec Suite for the Spec Suite Extension Term, then all the then current terms and conditions of the Lease shall apply, except that the Spec Suite Base Rent shall be as specified above, and Tenant shall have no further right to renew or extend the Spec Suite Term.

10.    Brokerage. Landlord and Tenant each represents and warrants that it has not entered into any agreement with, or otherwise had any dealing with, any broker, agent or finder other than Cushman & Wakefield (“Landlord’s Broker”) and Cushman & Wakefield (“Tenant’s Broker”) (collectively, the “Broker”) in connection with the negotiation or execution of this Amendment which could form the basis of any claim by any such broker, agent or finder other than the Broker for a brokerage fee or commission, finder’s fee, or any other compensation of any kind or nature.  Landlord acknowledges that Landlord shall pay any commission or fee due to Landlord’s Broker pursuant to a separate agreement and pursuant to such agreement Landlord’s Broker shall pay a commission to Tenant’s Broker.  Landlord shall have no obligation whatsoever to pay any fee or commission except to Landlord’s Broker pursuant to the aforesaid separate agreement.  Tenant shall indemnify and hold Landlord harmless from and against any claim for brokerage or other commissions asserted by any broker, agent or finder employed by Tenant or with whom Tenant has dealt, other than the Broker, including without limitation all reasonable attorneys’ fees and costs incurred by Landlord in connection with any breach by Tenant of the representations set forth in this Section and/or enforcing this indemnity.  Landlord shall indemnify and hold Tenant harmless from and against any claim for brokerage or other commissions asserted by any broker, agent or finder employed by Landlord, including without limitation all reasonable attorneys' fees and costs incurred by Tenant in connection with any breach by Landlord of the representations set forth in this Section and/or enforcing this indemnity, or any claim made by Tenant's Broker, but with respect to claims by Tenant’s Broker, only to the extent Landlord fails to pay Landlord’s Broker pursuant to the aforesaid separate agreement.

11.    Ratification.  Except as otherwise expressly modified by the terms of this Amendment, the Lease shall remain unchanged and continue in full force and effect.  All terms, covenants and conditions of the Lease not expressly modified herein are hereby confirmed and ratified and remain in full force and effect, and, as further amended hereby, constitute valid and binding obligations of Tenant enforceable according to the terms thereof.  Tenant hereby acknowledges that Landlord is not in default under the Lease as of the date hereof, and that it is unaware of any condition or circumstance which, but for the passage of time or delivery of notice, or both, would constitute an event of default by Landlord under the Lease.  Tenant has no claims, defenses or set-offs of any kind to the payment or 

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performance of Tenant's obligations under the Lease.  Nothing contained herein shall be deemed to waive any sums due from Tenant to Landlord, or any default or event which, with the passage of time or delivery of notice, or both, would constitute a default by Tenant under the Lease as of the date hereof.

12.    Authority.  Tenant and each of the persons executing this Amendment on behalf of Tenant hereby covenants and warrants that Tenant is a duly organized, authorized and existing corporation and is in good standing under the laws of the Commonwealth of Virginia, that Tenant has full right and authority to enter into this Amendment, and that the person signing on behalf of Tenant is authorized to do so on behalf of Tenant. Landlord and each of the persons executing this Amendment on behalf of Landlord hereby covenants and warrants that Landlord is a duly organized, authorized and existing limited liability company and is in good standing under the laws of the Commonwealth of Virginia, that Landlord has full right and authority to enter into this Amendment, and that the person signing on behalf of Landlord is authorized to do so on behalf of Landlord.

13.    Counterparts.  This Amendment may be executed in multiple counterparts, each of which shall be an original, but all of which shall constitute one and the same Amendment. Faxed or electronically reproduced signatures shall have the same binding effect as original signatures, and a faxed or an electronically forwarded in pdf or similar format Amendment containing the signatures (original, electronically reproduced or faxed) of the parties shall be binding.

14.    Binding Effect.  This Amendment shall not be effective and binding unless and until fully executed and delivered by each of the parties hereto.  All of the covenants contained in this Amendment shall be binding upon and inure to the benefit of the parties hereto, their respective heirs, legal representatives, and permitted successors and assigns.

[Signatures appear on the following page.]

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IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be executed under seal as of the date first above written. 
	
			
	 
	 
	LANDLORD:

	 
	 
	MARSHALL PROPERTY LLC, a Delaware limited liability cvompany

	 
	 
	By: /s/ Jeffery L. Kovach

	 
	 
	Name: Jeffery L. Kovach

	 
	 
	Title: Managing Director

	 
	 
	Date: May 9, 2016

	 
	 
	TENANT:

	 
	 
	ALARM.COM INCORPORATED, a Delaware corporation

	 
	 
	By: /s/ Daniel Ramos

	 
	 
	Name: Daniel Ramos

	 
	 
	Title: SVP

	 
	 
	Date: May 6, 2016

    

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Exhibit 10.4

THIRD AMENDMENT TO CREDIT AGREEMENT
This Third Amendment to Credit Agreement (this “Amendment”) dated as of August 10, 2016, is by and among ALARM.COM INCORPORATED, a Delaware corporation (“Alarm”), ALARM.COM HOLDINGS, INC., a Delaware corporation (“Holdings”, and together with Alarm, individually and collectively, jointly and severally, the “Borrower”), the several banks and other financial institutions or entities party hereto (each a “Lender” and, collectively, the “Lenders”), Silicon Valley Bank (“SVB”) , as the Issuing Lender and the Swingline Lender, and SVB, as administrative agent and collateral agent for the Lenders (in such capacity, the “Administrative Agent”).
W I T N E S S E T H:
WHEREAS, the Borrower, the Lenders, the Administrative Agent, the Issuing Lender and the Swingline Lender are party to that certain Credit Agreement dated as of May 8, 2014, as amended by a First Amendment to Credit Agreement dated February 23, 2015 and as further amended by a Second Amendment to Credit Agreement dated December 7, 2015 (as amended, modified, supplemented or restated and in effect from time to time, the “Credit Agreement”).  All capitalized terms used herein and not otherwise defined herein, shall have the meanings assigned to such terms in the Credit Agreement; and
Whereas, Alarm has advised the Administrative Agent and the Lenders that (i) Alarm has created a new wholly-owned Subsidiary, ICN Acquisition, LLC, a Delaware limited liability company (“AcquisitionCo”), and (ii) that AcquisitionCo has entered into that certain Asset Purchase Agreement dated June 23, 2016 (the “iControl Purchase Agreement”), by and among AcquisitionCo, iControl Networks, Inc., a Delaware corporation (“iControl”), the Seller Stockholders identified therein and the Seller Stockholder Representative identified therein pursuant to which (a) AcquisitionCo will purchase certain assets of iControl, including, all of the outstanding shares of IControl Networks Canada, Inc., Delaware corporation (“iControl Canada”), a wholly owned subsidiary of iControl (the foregoing, collectively, the “iControl Acquisition”);
WHEREAS, the Borrower has requested that the Required Lenders and the Administrative Agent agree to modify and amend certain terms and conditions of the Credit Agreement to, among other things, increase the Revolving Commitment to $75,000,000, subject to the terms and conditions contained herein; and
WHEREAS, the parties to the Credit Agreement have agreed to modify and amend certain additional terms and conditions of the Credit Agreement, subject to the terms and conditions of this Amendment.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
		
	1.
	Amendments to Recitals of Credit Agreement.  The second recital to the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 “Whereas, the Lenders have agreed to extend certain credit facilities to the Borrower upon the terms and conditions specified in this Agreement, in an aggregate amount not to exceed $75,000,000, consisting of a revolving loan facility in an aggregate principal amount of up to $75,000,000, a letter of credit sub-facility in the aggregate availability amount of $10,000,000 (as a sublimit of the revolving loan facility), and a swingline sub-facility in the aggregate availability amount of $5,000,000 (as a sublimit of the revolving loan facility);”
		
	2.
	Amendments to Section 1. 1 of the Credit Agreement. 

		
	a.
	The definition of “Available Revolving Increase Amount” is hereby amended and restated in its entirety to read as follows: 

““Available Revolving Increase Amount”: as of any date of determination, an amount equal to the result of (a) $50,000,000 minus (b) the aggregate principal amount of Revolver Increases made after the Third Amendment Effective Date.”
		
	b.
	The definition of “Consolidated Adjusted EBITDA” is hereby amended and restated in its entirety to read as follows: 

““Consolidated Adjusted EBITDA”:  with respect to Holdings and its consolidated Subsidiaries for any period, (i) Consolidated Net Income, plus (ii) Consolidated Interest Expense, plus (iii) provisions for taxes based on income, plus (iv) total depreciation expense, plus (v) total amortization expense; plus (vi) stock-based compensation expense; plus (vii) transaction fees and expenses associated with the Revolving Facility; plus (viii) investment banking and other transaction fees and expenses associated with any initial public offering or any equity offering in an aggregate amount not to exceed $2,500,000 during the term of the agreement; plus (ix) all other non-cash charges; plus (x) such other one-time charges approved by the Administrative Agent in its discretion; plus (xi) one-time expenses in connection with the Vivint Litigation, the iControl Acquisition, and 

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compliance with The Hart-Scott-Rodino Antitrust Improvements Act of 1976 not to exceed (i) for all periods prior to and including June 30, 2017 in the aggregate, the lesser of (a) $5,000,000 and (b) 20% of Consolidated Adjusted EBITDA and (ii) for all periods after June 30, 2017 in the aggregate, the lesser of (a) $5,000,000 and (b) 15% of Consolidated Adjusted EBITDA.
		
	c.
	The definition of “Revolving Termination Date” is hereby amended and restated in its entirety to read as follows: 

““Revolving Termination Date”:  November 8, 2018.”

		
	d.
	The definition of “Total Revolving Commitments” is hereby amended and restated in its entirety to read as follows: 

““Total Revolving Commitments”:  at any time, the aggregate amount of the Revolving Commitments then in effect.  The amount of the Total Revolving Commitments on the Third Amendment Effective Date is $75,000,000.  The L/C Commitment and the Swingline Commitment are each sublimits of the Total Revolving Commitments.”
		
	e.
	The following new definitions are hereby added to Section 1.1 of the Credit Agreement in the appropriate alphabetical order: 

““iControl”: as defined in the Third Amendment.”
““iControl Acquisition”: as defined in the Third Amendment.”
““iControl Canada”: as defined in the Third Amendment.”
 ““iControl Purchase Agreement”: as defined in the Third Amendment.”
““Third Amendment”: the Third Amendment to Credit Agreement, dated as of the Third Amendment Effective Date, by and among the Borrower, the Administrative Agent and the Lenders.”
““Third Amendment Effective Date”: August 10, 2016.”  
 ““Vivint Litigation”:  The lawsuit filed June 2, 2015 by Vivint, Inc. (“Vivint”)  against Alarm in the U.S. District Court, District of Utah, wherein Vivint has alleged that Alarm’s technology directly and indirectly infringes six patents that were purchased by Vivint.” 
		
	3.
	Amendment to Section 2.8(a) of the Credit Agreement.  Section 2.8(a) of the Credit Agreement is hereby amended by deleting “Closing Date” in the first sentence thereof and inserting “Third Amendment Effective Date” in lieu thereof. 

		
	4.
	Amendment to Section 4.8 of the Credit Agreement.   Section 4.8 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

“4.8    Use of Proceeds.  The proceeds of the Revolving Loans, Swingline Loans and the Letters of Credit shall be used to repay the Existing Indebtedness and for general corporate and working capital purposes, including to pay the consideration of the iControl Acquisition and Permitted Acquisitions.” 
		
	5.
	Amendment to Section 7.1(b) of the Credit Agreement.   Section 7.1(b) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

“(b) Consolidated Leverage Ratio.  Permit the Consolidated Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of Holdings, measured on the last day of each quarter of Holdings, to exceed 3.00:1.00.” 
		
	6.
	Amendment to Schedules to the Credit Agreement.  The information set forth in Exhibit A hereto is hereby added to the information set forth in the Schedules to the Credit Agreement.

		
	7.
	Amendment to Exhibit B to the Credit Agreement.  Exhibit B (Form of Compliance Certificate) to the Credit Agreement is hereby amended and restated in its entirety to read as set forth on Exhibit B hereto.

		
	8.
	Conditions Precedent to Effectiveness.  This Amendment shall not be effective until each of the following conditions precedent has been fulfilled to the satisfaction of the Administrative Agent:

		
	a.
	This Amendment shall have been duly executed and delivered by the respective parties hereto.  The Administrative Agent shall have received a fully executed copy hereof and of each other document required hereunder.

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	b.
	The Administrative Agent shall have received an updated collateral information certificate of each existing Loan Party. 

		
	c.
	All necessary consents and approvals to authorize this Amendment shall have been obtained by the applicable Loan Parties.

		
	d.
	No Default or Event of Default shall have occurred and be continuing.

		
	e.
	After giving effect to this Amendment, the representations and warranties herein and in the Credit Agreement and the other Loan Documents shall be true and correct, (i) to the extent qualified by materiality, in all respects, and (ii) to the extent not qualified by materiality, true and correct in all material respects, in each case, on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date, in which case they shall be true and correct in all respects or all material respects, as applicable, as of such earlier date).

		
	f.
	The Administrative Agent shall have received the results of a recent lien search in each of the Loan Parties’ jurisdiction of organization, and such searches shall reveal no liens on any of the assets of the Loan Parties except for liens permitted by Section 7.3 of the Credit Agreement or discharged on or prior to the Third Amendment Effective Date pursuant to documentation satisfactory to the Administrative Agent.

		
	g.
	Each Lender shall have received Notes or amended and restated Notes, as the case may be, in each case, duly executed by the Borrower. 

		
	h.
	The Administrative Agent shall have received (i) an officer’s certificate of each Borrower, dated as of the Third Amendment Effective Date, with appropriate insertions and attachments, including resolutions authorizing the transactions contemplated hereby the certificate of incorporation or other similar organizational document of each Borrower certified by the relevant authority of the jurisdiction of organization of such Borrower, the bylaws or other similar organizational document of each Borrower and the relevant board resolutions or written consents of each Borrower, (ii) a long form good standing certificate or certificate of status, as the case may be, for each Borrower from its jurisdiction of organization and (iii) good standing certificates as a foreign corporation issued by each jurisdiction in which the failure of the applicable Borrower to be qualified could reasonably be expected to result in a Material Adverse Effect.

		
	i.
	The Administrative Agent shall have received a solvency certificate from a Responsible Officer of the Borrower, certifying that each of the Loan Parties, as of the Third Amendment Effective Date, is Solvent.

		
	j.
	There shall not have occurred since December 31, 2015 any event or condition that has had or could be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect.

		
	k.
	The Administrative Agent shall have received the executed legal opinion of Nelson Mullins Riley & Scarborough LLP, in a form reasonably satisfactory to the Administrative Agent.  Such legal opinion shall cover such matters incident to the transactions contemplated by this Amendment as the Administrative Agent may reasonably require.

		
	l.
	The Administrative Agent shall have received the fees, costs and expenses required to be paid pursuant to Section 10 of this Amendment (including the reasonable and documented fees and disbursements of legal counsel required to be paid thereunder which have been invoiced to Borrower prior to the date hereof).  

		
	m.
	All other documents and legal matters in connection with the transactions contemplated by this Amendment shall have been delivered, executed, or recorded and shall be in form and substance satisfactory to the Administrative Agent, in its sole discretion.

		
	9.
	Representations and Warranties.  The Borrower hereby represents and warrants to the Administrative Agent and the Lenders as follows:

		
	a.
	This Amendment is, and each other Loan Document to which it is or will be a party, when executed and delivered by each Loan Party that is a party thereto, will be the legally valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its respective terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally and equitable principals (whether enforcement is sought by proceedings in equity or at law).

		
	b.
	The representations and warranties set forth in this Amendment, the Credit Agreement, as amended by this Amendment and after giving effect hereto, and the other Loan Documents to which it is a party are, (i) to the extent qualified by materiality, true and correct in all respects, and (ii) to the extent not qualified by materiality, true and correct in all material respects, in each case, on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall have been true and correct in all respects or all material respects, as applicable, as of such earlier date).

		
	c.
	The execution and delivery by each Loan Party of this Amendment, the performance by such Loan Party of its obligations hereunder and the performance of the Borrower under the Credit Agreement, as amended by this Amendment, (i) have been duly authorized by all necessary organizational action on the part of such Loan Party and (ii) will not (A) violate any provisions of the certificate of incorporation or formation or organization or by-laws or limited liability company agreement or limited partnership agreement of such Loan Party or (B) constitute a violation by such Loan Party of any applicable material Requirement of Law. 

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Each Loan Party acknowledges that the Administrative Agent and the Lenders have acted in good faith and have conducted in a commercially reasonable manner their relationships with each Loan Party in connection with this Amendment and in connection with the other Loan Documents.  Each Loan Party understands and acknowledges that the Administrative Agent and the Lenders are entering into this Amendment in reliance upon, and in partial consideration for, the above representations, warranties, and acknowledgements, and agrees that such reliance is reasonable and appropriate.  
		
	10.
	Payment of Costs and Expenses.  The Borrower shall pay to the Administrative Agent all reasonable costs and out-of-pocket expenses of every kind in connection with the preparation, negotiation, execution and delivery of this Amendment and any documents and instruments relating hereto or thereto, including, without limitation, the Fee Letter dated February 12, 2014 between the Borrower and SVB (which costs include, without limitation, the reasonable and documented fees and expenses of any attorneys retained by the Administrative Agent).

		
	11.
	Choice of Law.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.  Each party hereto submits to the exclusive jurisdiction of the State and Federal courts in the Southern District of the State of New York; provided, however, that nothing in the Credit Agreement as amended by this Amendment shall be deemed to operate to preclude the Administrative Agent or any Lender from bringing suit or taking other legal action in any other jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of such Agent or such Lender. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HERETO WAIVES ITS RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AMENDMENT, THE OTHER LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AMENDMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED FUTURE DEALINGS.  EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.  

		
	12.
	Counterpart Execution.  This Amendment 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 Amendment.  Delivery of an executed counterpart of this Amendment by telefacsimile or by e-mail transmission of an Adobe file format document (also known as a PDF file) shall be equally as effective as delivery of an original executed counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment by telefacsimile or by e-mail transmission of an Adobe file format document (also known as a PDF file) also shall deliver an original executed counterpart of this Amendment but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment.

		
	13.
	Effect on Loan Documents.

		
	(a)
	The amendments set forth herein shall be limited precisely as written and shall not be deemed (a) to be a forbearance, waiver, or modification of any other term or condition of the Credit Agreement or of any Loan Documents or to prejudice any right or remedy which the Administrative Agent may now have or may have in the future under or in connection with the Loan Documents; (b) to be a consent to any future consent or modification, forbearance, or waiver to the Credit Agreement or any other Loan Document, or to any waiver of any of the provisions thereof; or (c) to limit or impair the Administrative Agent’s right to demand strict performance of all terms and covenants as of any date.  Each Loan Party hereby ratifies and reaffirms its obligations under the Credit Agreement and the other Loan Documents to which it is a party and agrees that none of the amendments or modifications to the Credit Agreement set forth in this Amendment shall impair such Loan Party’s obligations under the Loan Documents or the Administrative Agent’s rights under the Loan Documents.  Each Loan Party hereby further ratifies and reaffirms the validity and enforceability of all of the Liens heretofore granted, pursuant to and in connection with the Guarantee and Collateral Agreement or any other Loan Document to the Administrative Agent on behalf and for the benefit of the Secured Parties, as collateral security for the obligations under the Loan Documents, in accordance with their respective terms, and acknowledges that all of such Liens, and all collateral heretofore pledged as security for such obligations, continues to be and remain collateral for such obligations from and after the date hereof.  Each Loan Party acknowledges and agrees that the Credit Agreement and each other Loan Document is still in full force and effect and acknowledges as of the date hereof that such Loan Party has no defenses to enforcement of the Loan Documents.  Each Loan Party waives any and all defenses to enforcement of the Credit Agreement as amended hereby and each other Loan Documents that might otherwise be available as a result of this Amendment of the Credit Agreement.  To the extent any terms or provisions of this Amendment conflict with those of the Credit Agreement or other Loan Documents, the terms and provisions of this Amendment shall control.

		
	(b)
	To the extent that any terms and conditions in any of the Loan Documents shall contradict or be in conflict with any terms or conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions 

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are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Credit Agreement as modified or amended hereby.
		
	(c)
	This Amendment is a Loan Document.  

		
	14.
	Release of Claims.   The Borrower may have certain Claims against the Released Parties, as those terms are defined below, regarding or relating to the Credit Agreement or the other Loan Documents.  The Administrative Agent, the Lenders, the Issuing Lender, the Swingline Lender, and the Borrower desire to resolve each and every one of such Claims in conjunction with the execution of this Amendment and thus the Borrower makes the releases contained in this Section 14.  In consideration of the Administrative Agent and the Lenders entering into this Amendment, the Borrower hereby fully and unconditionally releases and forever discharges each of the Administrative Agent, the Lenders, the Issuing Lender, the Swingline Lender and their respective directors, officers, employees, subsidiaries, branches, affiliates, attorneys, agents, representatives, successors and assigns and all persons, firms, corporations and organizations acting on any of their behalves (collectively, the “Released Parties”), of and from any and all claims, allegations, causes of action, costs or demands and liabilities, of whatever kind or nature, arising prior to the date on which this Amendment is executed, whether known or unknown to the Borrower on the date hereof, whether liquidated or unliquidated, fixed or contingent, asserted or unasserted, foreseen or unforeseen, matured or unmatured, suspected or unsuspected, anticipated or unanticipated, which the Borrower has against the Released Parties by reason of any act or omission on the part of the Released Parties, or any of them, occurring prior to the date on which this Amendment is executed, including all such loss or damage of any kind heretofore sustained or that may arise as a consequence of the dealings among the parties up to and including the date on which this Amendment is executed, in each case, arising out of the Loans, the Obligations, the Credit Agreement or any of the Loan Documents, including the administration or enforcement thereof (collectively, all of the foregoing, the “Claims”).  The Borrower represents and warrants that it has no knowledge of any Claim by it against the Released Parties or of any facts or acts or omissions of the Released Parties which on the date hereof would be the basis of a Claim by the Borrower against the Released Parties which is not released hereby.  The Borrower represents and warrants that the foregoing constitutes a full and complete release of all Claims.

		
	15.
	Entire Agreement.  This Amendment constitutes the entire agreement between the Loan Parties and the Lenders pertaining to the subject matter contained herein and supersedes all prior agreements, understandings, offers and negotiations, oral or written, with respect hereto and no extrinsic evidence whatsoever may be introduced in any judicial or arbitration proceeding, if any, involving this Amendment.  All of the terms and provisions of this Amendment are hereby incorporated by reference into the Credit Agreement, as applicable, as if such terms and provisions were set forth in full therein, as applicable.  All references in the Credit Agreement to “this Agreement”, “hereto”, “hereof”, “hereunder” or words of like import shall mean the Credit Agreement as amended hereby.  

		
	16.
	Severability.  The provisions of this Amendment are severable, and if any clause or provision shall be held invalid or unenforceable in whole or in part in any jurisdiction, then such invalidity or unenforceability shall affect only such clause or provision, or part thereof, in such jurisdiction and shall not in any manner affect such clause or provision in any other jurisdiction, or any other clause or provision in this Amendment in any jurisdiction.

		
	17.
	Reaffirmation. Each Loan Party hereby reaffirms its obligations under each Loan Document to which it is a party.  Each Loan Party hereby further ratifies and reaffirms the validity and enforceability of all of the Liens heretofore granted, pursuant to and in connection with the Guaranty and Collateral Agreement or any other Loan Document to the Administrative Agent on behalf and for the benefit of Secured Parties, as collateral security for the obligations under the Loan Documents in accordance with their respective terms, and acknowledges that all of such Liens, and all collateral heretofore pledged as security for such obligations, continues to be and remain collateral for such obligations from and after the date hereof.

		
	18.
	Post-Closing Covenants.  The Borrower shall complete each of the post-closing obligations and/or provide to the Administrative Agent each of the documents, instruments, agreements and information listed on Schedule 2 attached hereto on or before the date set forth for each such item thereon or as the Administrative Agent may otherwise agree in its sole discretion, each of which shall be completed or provided in form and substance satisfactory to Administrative Agent.  Failure of the Borrower to comply with or deliver the post-closing items within the time periods set forth on Schedule 2 shall constitute an Event of Default as to which no grace period shall apply.

 [Signature pages follow.]

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IN WITNESS WHEREOF, each of the undersigned has caused this Third Amendment to Credit Agreement to be duly executed and delivered by its proper and duly authorized officer as of the date set forth below.

BORROWER:

ALARM.COM INCORPORATED

By:    /s/ Daniel Ramos    
Name:     Daniel Ramos    
Title:     Senior Vice President
ALARM.COM HOLDINGS, INC.

By:    /s/ Daniel Ramos    
Name:     Daniel Ramos    
Title:     Senior Vice President

ADMINISTRATIVE AGENT:

SILICON VALLEY BANK,
as the Administrative Agent

By:     /s/ Will Deevy    
Name:     Will Deevy
Title:     Vice President
LENDERS:

SILICON VALLEY BANK,
as Issuing Lender, Swingline Lender and as a Lender

By:     /s/ Will Deevy    
Name:     Will Deevy
Title:     Vice President

BANK OF AMERICA, N.A.,
as a Lender

By:     /s/ Mary K. Giermek    
Name:     Mary K. Giermek
Title:     Senior Vice President

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Acknowledged and Agreed:
GUARANTORS:
ALARM.COM HOLDINGS, INC.

By:    /s/ Daniel Ramos    
Name:     Daniel Ramos    
Title:     Senior Vice President
WH INTERACTIVE, LLC

By:    /s/ Daniel Ramos    
Name:     Daniel Ramos    
Title:     SVP, Alarm.com Incorporated, Manager
POINTCENTRAL, LLC

By:    /s/ Daniel Ramos    
Name:     Daniel Ramos    
Title:     SVP, Alarm.com Incorporated, Manager
ENERGYHUB, INC.

By:     /s/ A.J. Gollinger    
Name:     A.J. Gollinger
Title:     Treasurer

ALARM.COM INTERNATIONAL HOLDINGS, LLC

By:    /s/ Daniel Ramos    
Name:     Daniel Ramos    
Title:     SVP, Alarm.com Incorporated, Manager

BUILDING 36 TECHNOLOGIES, LLC

By:    /s/ Daniel Ramos    
Name:     Daniel Ramos    
Title:     SVP, Alarm.com Incorporated, Manager

- 7 -

FIVE INTERACTIVE, LLC

By:    /s/ Daniel Ramos    
Name:     Daniel Ramos    
Title:     SVP, Alarm.com Incorporated, Manager
ONABRIDGE TECHNOLOGIES, LLC

By:    /s/ Daniel Ramos    
Name:     Daniel Ramos    
Title:     SVP, Alarm.com Incorporated, Manager
JTT INVESTMENT PARTNERS, LLC

By:     /s/ J. Brennan Ryan    
Name:     J. Brennan Ryan
Title:     Authorized Signatory
Securitytrax LLC

By:    /s/ Daniel Ramos    
Name:     Daniel Ramos    
Title:     SVP, Alarm.com Incorporated, Manager

- 8 -

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