Document:

EX-10.1

 Exhibit 10.1 

IDENTIV, INC. 
 EAST
WEST BANK 
 LOAN AND SECURITY AGREEMENT 

 This LOAN AND SECURITY
AGREEMENT is entered into as of February 8, 2017, by and between EAST WEST BANK (“Bank”), IDENTIV, INC., a Delaware corporation (“Parent”). 

RECITALS 

Borrowers wish to obtain credit from time to time from Bank, and Bank desires to extend credit to Borrowers. This Agreement sets forth the
terms on which Bank will advance credit to Borrowers, and Borrowers will repay the amounts owing to Bank. 
 AGREEMENT

 The parties agree as follows: 

1. DEFINITIONS AND CONSTRUCTION. 

1.1 Definitions. As used in this Agreement, the following terms shall have the following definitions: 

“Accounts” means all presently existing and hereafter arising accounts, contract rights, payment intangibles, and all other forms of
obligations owing to a Borrower arising out of the sale or lease of goods (including, without limitation, the licensing of software and other technology) or the rendering of services by a Borrower, whether or not earned by performance, and any and
all credit insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by a Borrower and such Borrower’s Books relating to any of the foregoing. 

“Advance” or “Advances” means a cash advance or cash advances under the Revolving Facility. 

“Affiliate” means, with respect to any Person, any Person that owns or controls directly or indirectly such Person, any Person that
controls or is controlled by or is under common control with such Person, and each of such Person’s senior executive officers, directors, and partners. 

“Bank Expenses” means all reasonable costs or expenses (including reasonable attorneys’ fees and expenses, whether generated in-house or by outside counsel) incurred in connection with the preparation, negotiation, administration, and enforcement of the Loan Documents; reasonable Collateral audit fees; and Bank’s reasonable
attorneys’ fees and expenses (whether generated in-house or by outside counsel) incurred in amending, enforcing or defending the Loan Documents (including fees and expenses of appeal), incurred before,
during and after an Insolvency Proceeding, whether or not suit is brought. 
 “Borrower” or “Borrowers” means,
individually and collectively, Parent and any Person added to this Agreement as a borrower hereunder after the Closing Date, by written agreement between Parent, Bank and such Person. 

“Borrower’s Books” means all of a Borrower’s books and records including: ledgers; records concerning a Borrower’s
assets or liabilities, the Collateral, business operations or financial condition; and all computer programs, or tape files, and the equipment, containing such information. 

“Borrowing Base” means an amount equal to (i) eighty five percent (85%) of Eligible Accounts plus (ii) fifty percent (50%)
of Eligible Inventory, as determined by Bank with reference to the most recent Borrowing Base Certificate delivered by Borrowers; provided however, the total amount of the Borrowing Base with respect to clause (ii) above shall not exceed the
lesser of Five Million Dollars ($5,000,000) or fifty percent (50%) of the total Borrowing Base at any time; and provided further that the Borrowing Base may be revised from time to time by Bank following each Collateral audit or as Bank deems
necessary in Bank’s reasonable judgment and after commercially reasonable notice thereof to Borrowers. 

 “Business Day” means any day that is not a Saturday, Sunday, or other day on which
banks in the State of California are authorized or required to close. 
 “Change in Control” shall mean a transaction in which any
“person” or “group” (within the meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) becomes the “beneficial owner” (as defined in Rule 13d-3 under the
Securities Exchange Act of 1934), directly or indirectly, of a sufficient number of shares of all classes of stock then outstanding of a Borrower ordinarily entitled to vote in the election of directors, empowering such “person” or
“group” to elect a majority of the board of directors of a Borrower, who did not have such power before such transaction. 

“Closing Date” means the date of this Agreement. 

“Code” means the California Uniform Commercial Code, as amended or supplemented from time to time. 

“Collateral” means the property described on Exhibit A attached hereto. 

“Contingent Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person
with respect to (i) any indebtedness, lease, dividend, letter of credit or other obligation of another, including, without limitation, any such obligation directly or indirectly guaranteed, endorsed,
co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit,
corporate credit cards or merchant services issued for the account of that Person; and (iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or
other agreement or arrangement designed to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for
collection or deposit in the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is
made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the
obligations under the guarantee or other support arrangement. 
 “Copyrights” means any and all copyright rights, copyright
applications, copyright registrations and like protections in each work of 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. 
 “Credit Extension” means each Advance or any other extension of credit by Bank for the benefit of Borrowers
hereunder. 
 “Daily Balance” means the amount of the Obligations owed at the end of a given day. 

“Debt Service Coverage Ratio” means, as of any particular measurement date (the “Measurement Date”), a ratio of
(a) Borrowers’ consolidated EBITDA for the twelve-month period ending on the Measurement Date minus (i) the amount of non-financed capital expenditures made during the twelve-month period ending
on the Measurement Date, (ii) all dividends or distributions made or paid during the twelve-month period ending on the Measurement Date and (iii) income taxes paid or payable during the twelve-month period ending on the Measurement Date;
to (b) the sum of (i) all scheduled payments of interest and principal on the WTI Indebtedness paid or payable during the twelve-month period ending on the Measurement Date, plus (ii) interest payments paid or payable to Bank with
respect the outstanding Advances during the twelve-month period ending on the Measurement Date, plus (iii) the principal and interest on all capital lease obligations paid or payable during the twelve-month period ending on the Measurement
Date, plus (iv) all payment obligations during the twelve-month period ending on the Measurement Date with respect to previous acquisitions by Borrowers. 

“EBITDA” means Borrowers’ net earnings excluding the provision (benefit) for income taxes, net income (loss) attributable to non-controlling interest, interest expense, foreign currency losses (gains), impairment of goodwill, stock-based compensation, amortization and depreciation, and restructuring and severance not to exceed $300,000
per fiscal quarter; it being understood for the avoidance of doubt that any elements of this definition required to be reconciled in accordance with GAAP shall be so reconciled. 

 “Eligible Accounts” means those Accounts that arise in the ordinary course of a
Borrower’s business that comply with all of Borrowers’ representations and warranties to Bank set forth in Section 5.4, but not including any deferred revenue or other Accounts that are subject to any offset; provided, that standards
of eligibility may be fixed and revised from time to time to reflect Collateral audits or other new information with respect to the Accounts by Bank in Bank’s reasonable judgment and after commercially reasonable notice thereof to Borrowers in
accordance with the provisions hereof. Unless otherwise agreed to by Bank, Eligible Accounts shall not include the following: 
 (a)
Accounts that the account debtor has failed to pay within ninety (90) days of invoice date; 
 (b) credit balances over 90 days;

 (c) Accounts with respect to an account debtor, twenty-five percent (25%) of whose Accounts the account debtor has failed to pay
within ninety (90) days of invoice date; 
 (d) Accounts with respect to which the account debtor is an officer, employee, or
agent of Borrower; 
 (e) Accounts with respect to which goods are placed on consignment, guaranteed sale, sale or return, sale on
approval, bill and hold, or other terms by reason of which the payment by the account debtor may be conditional; 
 (f) prebillings,
prepaid deposits, retention billings, or progress billings; 
 (g) Accounts with respect to which the account debtor is an Affiliate
of a Borrower; 
 (h) Accounts with respect to which the account debtor does not have its principal place of business in the United
States, except for Eligible Foreign Accounts; 
 (i) Accounts with respect to which the account debtor is the United States or any
department, agency, or instrumentality of the United States, except for Accounts of the United States if the payee has assigned its payment rights to Bank, the assignment has been acknowledged under the Assignment of Claims Act of 1940 (31 U.S.C.
Section 3727), and such assignment otherwise complies with the Assignment of Claims Act to Bank’s reasonable satisfaction in the exercise of its reasonable credit judgment; 

(j) Accounts with respect to which Borrowers are liable to the account debtor for goods sold or services rendered by the account debtor
to a Borrower or for deposits or other property of the account debtor held by a Borrower, but only to the extent of any amounts owing to the account debtor against amounts owed to Borrowers; 

(k) Accounts with respect to an account debtor, including Subsidiaries and Affiliates, whose total obligations to Borrowers exceed
twenty-five percent (25%) of all Accounts, to the extent such obligations exceed the aforementioned percentage, except as approved in writing by Bank; 

(l) Accounts that have not yet been billed to the account debtor or that relate to deposits (such as good faith deposits) or other
property of the account debtor held by a Borrower for the performance of services or delivery of goods which such Borrower has not yet performed or delivered; 

(m) Accounts with respect to which the account debtor disputes liability or makes any claim with respect thereto as to which Bank
believes, in its sole discretion, that there may be a basis for dispute (but only to the extent of the amount subject to such dispute or claim), or is subject to any Insolvency Proceeding, or becomes insolvent, or goes out of business; 

 (n) Account with respect to which the account debtor is Stanley Black & Decker
and/or its various subsidiaries and affiliates, that are subject to financing under that certain Supplier Agreement between Parent and Citibank, N.A. (the “Citibank Supplier Agreement”); provided, however, that in the event that the Liens
on such Accounts in favor of Citibank, N.A. pursuant to the Citibank Supplier Agreement (the “Citibank Liens”) are released and the Citibank Supplier Agreement has been terminated, then such Accounts shall be included as Eligible Accounts;
and 
 (o) Accounts the collection of which Bank reasonably determines to be doubtful. 

“Eligible Foreign Accounts” means Accounts with respect to which the account debtor does not have its principal place of business in
the United States and that Bank approves on a case-by-case basis. 

“Eligible Inventory” means finished goods Inventory that meets the requirements set forth in a Borrower’s representations and
warranties in Section 5.5 and nonobsolete raw materials, measured at a Borrower’s cost, as each shall be acceptable to Bank in all respects. Unless otherwise agreed to by Bank, the following shall not be Eligible Inventory: 

(a) consigned Inventory; 

(b) perishable goods; 

(c) returned, obsolete and defective goods; 

(d) any Inventory subject to non-compliance with the Fair Labor Standards Act; 

(e) supplies, shipping material, packaging, custom packaging, and customized Inventory with narrow distribution channels; 

(f) Inventory located outside of the United States; 

(g) slow moving or in-transit Inventory without insurance; 

(h) work in progress; and 

(i) other Inventory that Bank reasonably determines from time to time to be ineligible based on age, type, category, quality or
quantity, or based on its relation to undesirable industries. 
 “Environmental Laws” means all laws, rules, regulations, orders
and the like issued by any federal state, local foreign or other governmental or quasi-governmental authority or any agency pertaining to the environment or to any hazardous materials or wastes, toxic substances, flammable, explosive or radioactive
materials, asbestos or other similar materials. 
 “Equipment” means all present and future machinery, equipment, tenant
improvements, furniture, fixtures, vehicles, tools, parts and attachments in which a Borrower has any interest. 
 “ERISA” means
the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder. 
 “Event of Default” has the
meaning assigned in Article 8. 
 “GAAP” means generally accepted accounting principles as in effect from time to time. 

“Inactive Subsidiaries” means each Subsidiary existing as of the Closing Date listed as inactive on the Schedule that (i) has
no operations, (ii) has a total assets of less than $50,000 (excluding an existing intercompany loan in the amount of $2,600,000 owing by a dormant U.K. Subsidiary to an Inactive Subsidiary.) 

 “Indebtedness” means (a) all indebtedness for borrowed money or the deferred
purchase price of property or services, including without limitation reimbursement and other obligations with respect to surety bonds and letters of credit, (b) all obligations evidenced by notes, bonds, debentures or similar instruments,
(c) all capital lease obligations and (d) all Contingent Obligations. 
 “Insolvency Proceeding” means any proceeding
commenced by or against any Person or entity under any provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, including assignments for the benefit of creditors, formal or informal moratoria,
compositions, extension generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 

“Intellectual Property” means all of a Borrower’s right, title, and interest in and to the following: (a) Copyrights,
Trademarks and Patents; (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 a Borrower now or hereafter existing, created, acquired or held; (d) any and all claims for damages by way of past, present and future infringement of any of the rights included above, with the right, but not the obligation,
to sue for and collect such damages for said use or infringement of the intellectual property rights identified above; (e) 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; (f) all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents; and (g) 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. 
 “Intercreditor
Agreement” means that certain Intercreditor Agreement among Venture Lending & Leasing VII, Inc., Venture Lending & Leasing VIII, Inc. (together, “WTI”) and Bank dated as of the date hereof and as amended from time to
time. 
 “Inventory” means all inventory in which a Borrower has or acquires any interest, including work in process and finished
products intended for sale or lease or to be furnished under a contract of service, of every kind and description now or at any time hereafter owned by or in the custody or possession, actual or constructive, of a Borrower, including such inventory
as is temporarily out of its custody or possession or in transit and including any returns upon any accounts or other proceeds, including insurance proceeds, resulting from the sale or disposition of any of the foregoing and any documents of title
representing any of the above, and a Borrower’s Books relating to any of the foregoing. 
 “Investment” means any beneficial
ownership of (including stock, partnership interests or limited liability company membership interests or any other securities) any Person, or any loan, advance or capital contribution or transfer of any assets through advances, equity positions or
other avenues to any Person. 
 “Lien” means any mortgage, lien, deed of trust, charge, pledge, security interest or other similar
encumbrance. 
 “Loan Documents” means, collectively, this Agreement, any note or notes, documents or instruments executed or
delivered by a Borrower in connection with this Agreement, and any other agreement, document, or instrument entered into in connection with this Agreement, including any guarantees, all as amended or extended from time to time. 

“Material Adverse Effect” means a material adverse effect on (i) the business operations, condition (financial or otherwise) or
prospects of Borrowers and its Subsidiaries taken as a whole or (ii) the ability of Borrowers to repay the Obligations or otherwise perform its obligations under the Loan Documents or (iii) the value or priority of Bank’s security
interests in the Collateral. 
 “Negotiable Collateral” means all letters of credit of which a Borrower is a beneficiary, notes,
drafts, instruments, securities, documents of title, and chattel paper, and each Borrower’s Books relating to any of the foregoing. 

 “Obligations” means all debt, principal, interest, Bank Expenses and other amounts owed
to Bank by Borrowers pursuant to this Agreement or any other agreement, whether absolute or contingent, due or to become due, now existing or hereafter arising, including any interest that accrues after the commencement of an Insolvency Proceeding
and including any debt, liability, or obligation owing from Borrowers to others that Bank may have obtained by assignment or otherwise. 

“Patents” means all patents, patent applications and like protections including without limitation improvements, divisions,
continuations, renewals, reissues, extensions and continuations-in-part of the same. 

“Permitted Acquisition” means any transaction or series of related transactions resulting in the acquisition by Borrower or any
Subsidiary, whether by purchase, merger or otherwise, of all or substantially all of the assets of, all of the equity interests of, or a business line or unit or a division of, any Person that is a field related to the business in which Borrower is
currently engaged as of the Closing Date or reasonably related thereto and such Person is not doing business in any field that would be prohibited by Bank’s credit policies or regulatory schemes (each an “Acquisition”), provided that
(i) no Event of Default has occurred, is continuing, or would exist after giving effect to such Acquisition, (ii) such Acquisition does not result in a Change of Control, (iii) Borrower is the surviving entity following such
Acquisition, (iv) the total consideration paid in connection with any Acquisition (including assumption of liabilities or incurrence of any Indebtedness) does not exceed $25,000,000 in the aggregate in 2017 or $50,000,000 in any fiscal year
thereafter, (v) any cash consideration payable in connection with such Acquisition shall be funded solely from the cash proceeds received by Borrower from the sale and issuance of its equity securities substantially concurrent with the closing
of such Acquisition, (vi) any assets acquired in such Acquisition are free and clear of all Liens (other than Permitted Liens), (vii) any Acquisition of the capital stock of any Person shall be subject to Borrower’s compliance with
Section 6.11, (viii) Bank has received Borrower’s financial statements on a pro forma basis, in form and substance satisfactory to Bank, demonstrating Borrower’s compliance with the financial covenants set forth herein after giving
effect to such Acquisition, and (ix) Borrower has given Bank at least ten Business Days’ notice prior to the consummation of such Acquisition and provided such other information as Bank may reasonably request with respect to the foregoing.

 “Permitted Indebtedness” means: 

(a) Indebtedness of Borrowers in favor of Bank arising under this Agreement or any other Loan Document; 

(b) Indebtedness existing on the Closing Date and disclosed in the Schedule; 

(c) Indebtedness secured by a lien described in clause (c) of the defined term “Permitted Liens,” provided (i) such
Indebtedness does not exceed the lesser of the cost or fair market value of the equipment financed with such Indebtedness and (ii) such Indebtedness does not exceed $100,000 in the aggregate at any given time; 

(d) Indebtedness in an aggregate principal amount of up to $10,000,000 owing to WTI, (the “WTI Indebtedness”) in accordance
with the terms set forth in the WTI Agreement and subject to the Intercreditor Agreement; 
 (e) Indebtedness to trade creditors
incurred in the ordinary course of business; 
 (f) Indebtedness incurred as a result of endorsing negotiable instruments received in
the ordinary course of business; 
 (g) Indebtedness in connection with the issuance of surety bonds, performance bonds, and similar
obligations incurred in the ordinary course of business; 
 (h) Subordinated Debt; and 

 (i) Extensions, refinancings and renewals of any items of Permitted Indebtedness,
provided that the principal amount is not increased or the terms modified to impose more burdensome terms upon a Borrower or its Subsidiary, as the case may be. 

“Permitted Investment” means: 

(a) Investments existing on the Closing Date disclosed in the Schedule; 

(b) Investments consisting of deposit accounts and cash equivalents maintained in accounts in compliance with Section 6.8; 

(c) Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the
ordinary course of Borrower; 
 (d) Investments by Borrower in Subsidiaries solely to the extent necessary to support such
Subsidiary’s operations in the ordinary course of business and consistent with past practices; 
 (e) Investments not to exceed
$500,000 in the aggregate in any fiscal year consisting of (i) travel advances and employee relocation loans and other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors
relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements approved by Borrower’s board of directors; 

(f) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and
in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 

(g) other Investments in an amount equal to $500,000 or less during any fiscal year; 

(h) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are
not Affiliates, in the ordinary course of business; provided that this paragraph (i) shall not apply to Investments of Borrower in any Subsidiary; 

(i) Investments consisting of Permitted Acquisitions; and 

(j) other Investments with Bank’s consent which shall not be unreasonably withheld or delayed. 

“Permitted Liens” means the following: 

(a) Any Liens existing on the Closing Date and disclosed in the Schedule (excluding Liens to be satisfied with the proceeds of the
initial Credit Extension) or arising under this Agreement or the other Loan Documents; 
 (b) Liens for taxes, fees, assessments or
other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings and for which a Borrower maintains adequate reserves, provided the same have no priority over any of Bank’s security
interests; 
 (c) Liens (i) upon or in any equipment which was not financed by Bank acquired or held by Borrowers or any of its
Subsidiaries to secure the purchase price of such equipment or indebtedness incurred solely for the purpose of financing the acquisition of such equipment, or (ii) existing on such equipment at the time of its acquisition, provided that the
Lien is confined solely to the property so acquired and improvements thereon, and the proceeds of such equipment; 
 (d) Liens
securing the WTI Indebtedness, subject to the Intercreditor Agreement; 

 (e) Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in
nature arising in the ordinary course of business which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or
sale of the property subject thereto; 
 (f) Liens to secure payment of workers’ compensation, employment insurance, old-age pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 

(g) non-exclusive licenses of Intellectual Property granted to third parties in the ordinary
course of business; 
 (h) deposits to secure the performance of bids, trade contracts (other than Indebtedness) and leases,
statutory obligations, surety bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

(i) Liens arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default; 

(j) Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of the type described
in clauses (a) through (d) above, provided that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness being extended, renewed or refinanced does
not increase. 
 “Person” means any individual, sole proprietorship, partnership, limited liability company, joint venture, trust,
unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or governmental agency. 

“Prime Rate” means the greater of (i) the Prime Rate published in the Money Rates section of the Western Edition of The Wall
Street Journal, or such other rate of interest publicly announced from time to time by Bank as its Prime Rate and (ii) three and one half percent (3.5%). 

“Responsible Officer” means each of the Chief Executive Officer, the Chief Operating Officer and the Chief Financial Officer of each
Borrower. 
 “Revolving Facility” means the facility under which Borrowers may request Bank to issue Advances, as specified in
Section 2.1(a) hereof. 
 “Revolving Line” means a credit extension of up to Ten Million Dollars ($10,000,000). 

“Revolving Maturity Date” means the second anniversary of the Closing Date. 

“Schedule” means the schedule of exceptions attached hereto and approved by Bank, if any. 

“Shares” means (i) one hundred percent (100%) of the issued and outstanding capital stock, membership units or other securities
owned or held of record by a Borrower or any Subsidiary of a Borrower, in any direct Subsidiary; and (ii) sixty five percent (65%) of the issued and outstanding capital stock, membership units or other securities owned or held of record by a
Borrower or any Subsidiary of a Borrower, in any direct Subsidiary which is not an entity organized under the laws of the United States or any territory thereof. 

“Subordinated Debt” means any debt (including debt under the WTI Agreement) incurred by Borrowers that is subordinated to the debt
owing by Borrowers to Bank on terms acceptable to Bank (and identified as being such by Borrowers and Bank), pursuant to a subordination agreement in form and substance satisfactory to Bank. 

 “Subsidiary” means, as to any Person, a corporation, partnership, limited liability
company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of
the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries (including any Affiliate),
or both, by such Person. Unless the context otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of a Borrower. 

“Trademarks” means 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 Borrowers connected with and symbolized by such trademarks. 

“WTI Agreement” means that certain Loan and Security Agreement between WTI and Borrowers dated as of February 8, 2017 and as
amended from time to time. 
 1.2 Accounting Terms. All accounting terms not specifically defined herein shall be construed in
accordance with GAAP and all calculations made hereunder shall be made in accordance with GAAP. When used herein, the terms “financial statements” shall include the notes and schedules thereto. 

2. LOAN AND TERMS OF PAYMENT. 

2.1 Credit Extensions. Each Borrower promises to pay to the order of Bank, in lawful money of the United States of America, the
aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrowers hereunder. Borrowers shall also pay interest on the unpaid principal amount of such Credit Extensions at rates in accordance with the terms hereof. 

(a) Revolving Advances. 

(i) Subject to and upon the terms and conditions of this Agreement, Borrowers may request Advances in an aggregate outstanding amount
not to exceed the lesser of (i) the Revolving Line or (ii) the Borrowing Base. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1(a) may be repaid and reborrowed at any time prior to
the Revolving Maturity Date, at which time all Advances under this Section 2.1(a) shall be immediately due and payable. Borrowers shall deliver to Bank a promissory note for the Advances in substantially the form attached hereto as Exhibit B-1. Bank may enforce its rights in respect of the Advances under this Agreement without such note. Borrowers shall use the proceeds of the Advances for working capital purposes. Borrowers may prepay any Advances
without penalty or premium. 
 (ii) Whenever a Borrower desires an Advance, such Borrower will notify Bank no later than
3:00 p.m. Pacific Time, on the Business Day that the Advance is to be made. Each such notification shall be made (i) by telephone or in-person followed by written confirmation from Borrowers within
24 hours, (ii) by electronic mail or facsimile transmission, or (iii) by delivering to Bank a Payment/Advance Form in substantially the form of Exhibit B hereto. Bank is authorized to make Advances under this Agreement,
based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank’s discretion such Advances are necessary to meet Obligations which have become due and remain unpaid. Bank
shall be entitled to rely on any notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrowers shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of
such reliance. Bank will credit the amount of Advances made under this Section 2.1(a) to Parent’s deposit account with Bank. 

2.2 Overadvances. If the aggregate amount of the outstanding Advances exceeds the lesser of the Revolving Line or the Borrowing Base at
any time, Borrowers shall immediately pay to Bank, in cash, the amount of such excess. 

 2.3 Interest Rates, Payments, and Calculations. 

(a) Interest Rates. 

(i) Advances. Except as set forth in Section 2.3(b), the Advances shall bear interest, on the outstanding Daily Balance thereof,
at a per annum rate equal to two percent (2%) above the Prime Rate. 
 (b) Late Fee; Default Rate. If any payment is not made within
ten (10) days after the date such payment is due, Borrowers shall pay Bank a late fee equal to the lesser of (i) four percent (4%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable
law, not in any case to be less than $25.00. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to four (4) percentage points above the interest rate applicable
immediately prior to the occurrence of the Event of Default. 
 (c) Payments. Interest hereunder shall be due and payable on the
first calendar day of each month during the term hereof. Any interest not paid when due shall be compounded by becoming a part of the Obligations, and such interest shall thereafter accrue interest at the rate then applicable hereunder. All payments
shall be made free and clear of, and without deduction or withholding for, any present or future taxes or other charges imposed by any jurisdiction. All payments due and payable hereunder will be made via auto debit from a Borrower’s account at
Bank. 
 (d) Computation. The applicable rate of interest hereunder shall be computed daily on the basis of a 360 day year and actual
days elapsed, and shall be increased or decreased effective as of the day the Prime Rate is changed as provided in the definition thereof, by an amount equal to such change in the Prime Rate. 

2.4 Lockbox and Special Depository Account. Subject to a sixty (60) day transition period immediately following the Closing Date
or such longer period as may be agreed to by Bank in its discretion (the “Transition Period”), Borrowers shall cause all account debtors to deposit all checks to such lockbox account as Bank shall specify or to wire any amounts owing to
Borrowers to such account as Bank shall specify (the “Special Depository Account”) and pursuant to the terms of such lockbox agreements entered into by Borrowers as required by Bank time to time (the “Lockbox Agreements”).
Borrowers shall use the Special Depository Account address as the remit to and payment address for all proceeds of Accounts. Bank shall have sole authority to collect such payments and deposit them to the Special Depository Account. If a Borrower
receives any amount despite such instructions (including during such Transition Period), such Borrower shall immediately deliver such payment to Bank in the form received, except for an endorsement to the order of Bank and, pending such delivery,
shall hold such payment in trust for Bank. Within one (1) Business Day after clearance of any deposits into the Special Depository Account, Bank shall credit all amounts paid into the Special Depository Account first against any amounts
outstanding under the Revolving Facility, and then, of any remaining balance of such amount to a Borrower’s operating account maintained with Bank. 

2.5 Crediting Payments. Prior to the occurrence of an Event of Default, Bank shall credit a wire transfer of funds, check or other item
of payment to such deposit account or Obligation as Borrowers specify. After the occurrence of an Event of Default, the receipt by Bank of any wire transfer of funds, check, or other item of payment shall be immediately applied to conditionally
reduce Obligations, but shall not be considered a payment on account unless such payment is of immediately available federal funds or unless and until such check or other item of payment is honored when presented for payment. Notwithstanding
anything to the contrary contained herein, any wire transfer or payment received by Bank after 12:00 noon Pacific time shall be deemed to have been received by Bank as of the opening of business on the immediately following Business Day. Any
wire transfer or other payment received by Bank before 12:00 noon Pacific time shall be deemed to have been received by Bank as of the opening of business on such Business Day. Whenever any payment to Bank under the Loan Documents would otherwise be
due (except by reason of acceleration) on a date that is not a Business Day, such payment shall instead be due on the next Business Day, and additional fees or interest, as the case may be, shall accrue and be payable for the period of such
extension. 

 2.6 Fees and Expenses. 

(a) Facility Fees. Borrowers shall pay to Bank on the Closing Date and on the first anniversary of the Closing Date, a facility fee
equal to four tenths of one percent (0.4%) of the Revolving Line, each of which are fully earned and nonrefundable. 
 (b) Bank
Expenses. Borrowers shall pay to Bank on the Closing Date, all Bank Expenses incurred through the Closing Date and, after the Closing Date, all Bank Expenses, as and when they are incurred by Bank. 

(c) Early Termination Fee. If this Agreement is terminated prior to the Revolving Maturity Date, Borrowers shall pay a cash fee
(“Early Termination Fee”) in the amount of one percent (1.0%) of the Revolving Line; and if this Agreement is terminated prior to the first anniversary of the Closing Date, Borrowers shall pay an additional cash fee in the amount of one
percent (1.0%) of the Revolving Line (for an aggregate Early Termination Fee equal to two percent (2%) of the Revolving Line). The Early Termination Fee shall be due and payable on the effective date of such termination and thereafter shall bear
interest at a rate equal to the highest rate applicable to any of the Obligations. Notwithstanding the foregoing, Bank agrees to waive the Early Termination Fee if Bank closes on the refinancing and
re-documentation of the Obligations under this Agreement with the Bank or another division or an affiliate of Bank. 

2.7 Term. This Agreement shall become effective on the Closing Date and, subject to Section 13.7, shall continue in full force and
effect for so long as any Obligations remain outstanding or Bank has any obligation to make Credit Extensions under this Agreement. Notwithstanding the foregoing, Bank shall have the right to terminate its obligation to make Credit Extensions under
this Agreement immediately and without notice upon the occurrence and during the continuance of an Event of Default. Notwithstanding termination, Bank’s Lien on the Collateral shall remain in effect for so long as any Obligations are
outstanding. 
 3. CONDITIONS OF LOANS. 

3.1 Conditions Precedent to Initial Credit Extension. The obligation of Bank to make the initial Credit Extension is subject to the
condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following: 
 (a) this Agreement;

 (b) a certificate of the Secretary of each Borrower with respect to incumbency and resolutions authorizing the execution and
delivery of this Agreement; 
 (c) certified copies of each Borrower’s formation documents; 

(d) good standing certificates of each Borrower; 

(e) UCC National Form Financing Statements; 

(f) an intellectual property security agreement; 

(g) Intercreditor Agreement; 

(h) evidence of Borrower’s receipt of cash proceeds of at least $7,000,000 from WTI; 

(i) a warrant to purchase Parent’s common stock; 

(j) legal opinion from Borrowers’ counsel; 

 (k) payoff letter from Opus Bank (including termination of lien filing on Hirsch
Electronics, LLC); 
 (l) certificate(s) of insurance naming Bank as loss payee and additional insured; 

(m) account control agreements with respect to all of each Borrower’s domestic accounts maintained outside of Bank; 

(n) landlord waiver(s) with respect to Borrowers’ leased locations as required by Bank; 

(o) bailee waivers with respect to any locations holding Inventory; 

(p) execution of Lockbox Agreements; 

(q) establishment of the Special Depository Account; 

(r) evidence of the settlement of pending litigation matters or disclosure with respect to the progress thereof; 

(s) payment of the fees and Bank Expenses then due specified in Section 2.6 hereof; 

(t) current financial statements of Borrowers and such other updated financial information as Bank may reasonably request; 

(u) an audit of the Collateral, the results of which shall be satisfactory to Bank; and 

(v) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate. 

3.2 Conditions Precedent to all Credit Extensions. The obligation of Bank to make each Credit Extension, including the initial Credit
Extension, is further subject to the following conditions: 
 (a) timely receipt by Bank of the Payment/Advance Form as provided in
Section 2.1; 
 (b) the representations and warranties contained in Section 5 shall be true and correct in all material
respects on and as of the date of such Payment/Advance Form and on the effective date of each Credit Extension as though made at and as of each such date, and no Event of Default shall have occurred and be continuing, or would exist after giving
effect to such Credit Extension. The making of each Credit Extension shall be deemed to be a representation and warranty by a Borrower on the date of such Credit Extension as to the accuracy of the facts referred to in this Section 3.2; and

 (c) in Bank’s sole discretion, there has not been any material impairment in the Accounts, general affairs, management,
results of operation, financial condition or the prospect of repayment of the Obligations. 
 4. CREATION
OF SECURITY INTEREST. 
 4.1 Grant of Security Interest. Each Borrower grants and
pledges to Bank a continuing security interest in all presently existing and hereafter acquired or arising Collateral in order to secure prompt repayment of any and all Obligations and in order to secure prompt performance by such Borrower of each
of its covenants and duties under the Loan Documents. Except to the extent subordinate to Permitted Liens in favor of WTI in accordance with the Intercreditor Agreement, such security interest constitutes a valid, first priority security interest in
the presently existing Collateral, and will constitute a valid, first priority security interest in Collateral acquired after the date hereof. 

 4.2 Delivery of Additional Documentation Required. Borrowers shall from time to time
execute and deliver to Bank, at the request of Bank, all Negotiable Collateral, all financing statements and other documents that Bank may reasonably request, in form satisfactory to Bank, to perfect and continue the perfection of Bank’s
security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrowers from time to time may deposit with Bank specific time deposit accounts to secure specific Obligations.
Each Borrower authorizes Bank to hold such balances in pledge and to decline to honor any drafts thereon or any request by a Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the Obligations are
outstanding. 
 4.3 Right to Inspect. Bank (through any of its officers, employees, or agents) shall have the right, upon reasonable
prior notice, from time to time during Borrowers’ usual business hours but no more than twice a year (unless an Event of Default has occurred and is continuing), to inspect a Borrower’s Books and to make copies thereof and to check, test,
and appraise the Collateral in order to verify each Borrower’s financial condition or the amount, condition of, or any other matter relating to, the Collateral. 

4.4 Pledge of Shares. Each Borrower hereby pledges, assigns and grants to Bank, a security interest in all the Shares, together with
all proceeds and substitutions thereof, all cash, stock and other moneys and property paid thereon, all rights to subscribe for securities declared or granted in connection therewith, and all other cash and noncash proceeds of the foregoing, as
security for the performance of the Obligations. Within ten (10) Business Days following the repayment of the WTI Indebtedness, the certificate or certificates for the Shares will be delivered to Bank, accompanied by an instrument of assignment
duly executed in blank by Borrowers. To the extent required by the terms and conditions governing the Shares, Borrowers shall cause the books of each entity whose Shares are part of the Collateral and any transfer agent to reflect the pledge of the
Shares. Upon the occurrence of an Event of Default hereunder, Bank may effect the transfer of any securities included in the Collateral (including but not limited to the Shares) into the name of Bank and cause new (as applicable) certificates
representing such securities to be issued in the name of Bank or its transferee. Borrowers will execute and deliver such documents, and take or cause to be taken such actions, as Bank may reasonably request to perfect or continue the perfection of
Bank’s security interest in the Shares. Unless an Event of Default shall have occurred and be continuing, Borrowers shall be entitled to exercise any voting rights with respect to the Shares and to give consents, waivers and ratifications in
respect thereof, provided that no vote shall be cast or consent, waiver or ratification given or action taken which would be inconsistent with any of the terms of this Agreement or which would constitute or create any violation of any of such terms.
All such rights to vote and give consents, waivers and ratifications shall terminate upon the occurrence and continuance of an Event of Default. 

5. REPRESENTATIONS AND WARRANTIES. 

Each Borrower represents and warrants as follows: 

5.1 Due Organization and Qualification. Each Borrower and each Subsidiary is a corporation duly existing under the laws of its state of
incorporation and qualified and licensed to do business in any state in which the conduct of its business or its ownership of property requires that it be so qualified. 

5.2 Due Authorization; No Conflict. The execution, delivery, and performance of the Loan Documents are within each Borrower’s
powers, have been duly authorized, and are not in conflict with nor constitute a breach of any provision contained in a Borrower’s formation documents (including any Certificate/Article of Incorporation or Bylaws or similar document), nor will
they constitute an event of default under any material agreement to which a Borrower is a party or by which a Borrower is bound. No Borrower is in default under any material agreement to which it is a party or by which it is bound to the extent such
default could reasonably be expected to cause a Material Adverse Effect. 

 5.3 Collateral. Each Borrower has rights in or the power to transfer the Collateral, and
its title to the Collateral is free and clear of Liens, adverse claims, and restrictions on transfer or pledge except for Permitted Liens. All Collateral is located solely in the United States. Except as set forth in the Schedule, none of the
Collateral is maintained or invested with a Person other than Bank or Bank’s Affiliates. 
 5.4 No Prior Encumbrances. Each
Borrower has good and marketable title to its property, free and clear of Liens, except for Permitted Liens. 
 5.5 Merchantable
Inventory. All Inventory is in all material respects of good and marketable quality, free from all material defects, except for Inventory for which adequate reserves have been made. For any item of Inventory to be considered as part of the
“Eligible Inventory”, such Inventory is not subject to any Liens, except the first priority Liens granted in favor of Bank under this Agreement and the junior Lien in favor of WTI; and is located at Borrower’s headquarters or such
other Borrower operated facility as to which Bank has received a landlord waiver, inventory holder’s acknowledgment or other waiver or written acknowledgment in form satisfactory to Bank. 

5.6 Intellectual Property. Each Borrower is the sole owner of the Intellectual Property, except for
non-exclusive licenses granted by a Borrower to its customers or other third parties in the ordinary course of business. Each of the Patents is valid and enforceable, and no part of the Intellectual Property
has been judged invalid or unenforceable, in whole or in part, and no claim has been made that any part of the Intellectual Property violates the rights of any third party. Except as set forth in the Schedule, each Borrower’s rights as a
licensee of intellectual property do not give rise to more than five percent (5%) of its gross revenue in any given quarter, including without limitation revenue derived from the sale, licensing, rendering or disposition of any product or service.
Except as set forth in the Schedule, no Borrower is a party to, or bound by, any agreement that restricts the grant by such Borrower of a security interest in such Borrower’s rights under such agreement. Except as disclosed on the Schedule, no
Borrower is a party to, nor is bound by, any license or other agreement that prohibits or otherwise restricts such Borrower from granting a security interest in such Borrower’s interest in such license or agreement or any other property. 

5.7 Names; Locations. Except as disclosed in the Schedule, no Borrower has done business under any name other than that specified on
the signature page hereof, and its exact legal name is as set forth in the first paragraph of this Agreement. The chief executive office of each Borrower is located at the address indicated in Section 10 hereof. All of Borrowers’ Inventory
and Equipment is located only at the locations set forth in Section 10 hereof. 
 5.8 Litigation. Except as disclosed to the
Bank in writing on the Closing Date, there are no actions or proceedings pending by or against a Borrower or any Subsidiary before any court or administrative agency. 

5.9 No Material Adverse Change in Financial Statements. All consolidated and consolidating financial statements related to Borrowers
and any Subsidiary that Bank has received from Borrowers fairly present in all material respects Borrowers’ financial condition as of the date thereof and Borrowers’ consolidated and consolidating results of operations for the period then
ended. There has not been a material adverse change in the consolidated or the consolidating financial condition of Borrowers since the date of the most recent of such financial statements submitted to Bank. 

5.10 Solvency, Payment of Debts. Each Borrower is able to pay its debts (including trade debts) as they mature; the fair saleable value
of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; and Borrower is not left with unreasonably small capital after the transactions contemplated by this Agreement, in Bank’s good
faith business judgment. 
 5.11 Compliance with Laws and Regulations. Each Borrower and each Subsidiary have met the minimum funding
requirements of ERISA with respect to any employee benefit plans subject to ERISA. No event has occurred resulting from a Borrower’s failure to comply with ERISA that is reasonably likely to result in such Borrower’s incurring any material
liability. No Borrower is an “investment company” or a company “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940. No Borrower is engaged principally, or as one of the
important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulations T and U of the Board of 

 
Governors of the Federal Reserve System). Each Borrower has complied in all material respects with all the provisions of the Federal Fair Labor Standards Act. Each Borrower is in compliance with
all Environmental Laws, regulations and ordinances. No Borrower has violated any material statutes, laws, ordinances or rules applicable to it. 

5.12 Taxes. Each Borrower and each Subsidiary have filed or caused to be filed all tax returns required to be filed, and have paid, or
have made adequate provision for the payment of, all taxes reflected therein, except those being contested in good faith with adequate reserves under GAAP. 

5.13 Subsidiaries. Except as set forth on the Schedule, no Borrower owns any stock, partnership interest or other equity securities of
any Person, except for Permitted Investments. None of Borrowers’ domestic Subsidiaries (other than any Subsidiary that is a coborrower hereunder) are operating companies or own any material assets or other property. 

5.14 Government Consents. Each Borrower and each Subsidiary have obtained all material consents, approvals and authorizations of, made
all declarations or filings with, and given all notices to, all governmental authorities that are necessary for the continued operation of such Borrower’s business as currently conducted. 

5.15 Bona Fide Accounts. The Accounts are bona fide existing obligations. The property giving rise to such Accounts has been delivered
to the account debtor or to the account debtor’s agent for immediate shipment to and unconditional acceptance by the account debtor. No Borrower has received notice of actual or imminent Insolvency Proceeding of any account debtor that is
included in any Borrowing Base Certificate as an Eligible Account. 
 5.16 Operating, Depository and Investment Accounts. All of
Borrower’s and any domestic Subsidiaries accounts existing outside of Bank as of the Closing Date are set forth on the Schedule. Each Borrower and each Subsidiary maintains its accounts in accordance with Section 6.8. 

5.17 Shares. Each Borrower has full power and authority to create a first lien on the Shares and no disability or contractual
obligation exists that would prohibit such Borrower from pledging the Shares pursuant to this Agreement. To Borrowers’ knowledge, there are no subscriptions, warrants, rights of first refusal or other restrictions on transfer relative to, or
options exercisable with respect to the Shares. The Shares have been and will be duly authorized and validly issued, and are fully paid and non-assessable. To Borrowers’ knowledge, the Shares are not the
subject of any present or threatened suit, action, arbitration, administrative or other proceeding, and Borrower knows of no reasonable grounds for the institution of any such proceedings. 

5.18 Full Disclosure. No representation, warranty or other statement made by any Borrower in any certificate or written statement
furnished to Bank taken together with all such certificates and written statements furnished to Bank 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 (it being recognized by Bank that the projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are not viewed as facts and that actual results during the period or
periods covered by such projections and forecasts may differ from the projected or forecasted results). 
 6. AFFIRMATIVE
COVENANTS. 
 Each Borrower shall do all of the following: 

6.1 Good Standing. Each Borrower shall maintain its and each of its Subsidiaries’ corporate existence and good standing in its
jurisdiction of incorporation and maintain qualification in each jurisdiction in which it is required under applicable law. Borrowers shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and
agreements, the loss of which could have a Material Adverse Effect. 

 6.2 Government Compliance. Each Borrower shall meet, and shall cause each Subsidiary to
meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Each Borrower shall comply, and shall cause each Subsidiary to comply, with all statutes, laws, ordinances and government rules and
regulations to which it is subject, noncompliance with which could have a Material Adverse Effect. 
 6.3 Financial Statements, Reports,
Certificates. Borrowers shall deliver the following to Bank: 
 (a) as soon as available, but in any event on a weekly basis on
the Friday of each week, (i) a Borrowing Base Certificate signed by a Responsible Officer in substantially the form of Exhibit C hereto, (ii) a sales journal, (iii) a collections journal, (iv) a purchases journal and (v) a non-cash charges journal; 
 (b) as soon as available, but in any event within twenty
(20) days after the last day of each month, (i) aged listings of accounts receivable and accounts payable by invoice date, (ii) an inventory report and (iii) a Compliance Certificate signed by a Responsible Officer in
substantially the form of Exhibit D hereto; 
 (c) as soon as available, but in any event within thirty (30) days after the end
of each calendar month, a company prepared consolidated and consolidating balance sheet, income statement, and cash flow statement covering Borrowers’ consolidated and consolidating operations during such period, prepared on a consistent basis
from period to period (which may not be in accordance with GAAP), in a form acceptable to Bank and certified by a Responsible Officer, together with a Compliance Certificate signed by a Responsible Officer in substantially the form of Exhibit
D hereto; 
 (d) as soon as available, but in any event within one hundred eighty (180) days after the end of a
Borrower’s fiscal year, audited consolidated financial statements of Borrowers prepared in accordance with GAAP, consistently applied, together with an unqualified opinion on such financial statements of an independent certified public
accounting firm (other than any qualification with respect to internal controls as previously identified in Borrower’s 2015 audited financial statements); 

(e) as soon as available, but in any event no later than thirty (30) days prior to the beginning of each fiscal year, an annual
operating budget and financial projections (including income statements, balance sheets and cash flow statements) for the upcoming fiscal year, presented in a quarterly format, approved by Parent’s board of directors, and in a form and
substance acceptable to Bank; 
 (f) copies of all statements, reports and notices sent or made available generally by a Borrower to
its security holders or to any holders of Subordinated Debt, including reports filed publicly with the Securities and Exchange Commission (on Form 10K, 10Q or otherwise), which shall deemed as delivered to Bank once such reports are made available
via posting and/or links on Borrower’s website; 
 (g) promptly upon receipt of notice thereof, a report of any legal actions
pending or threatened against a Borrower or any Subsidiary that could result in damages to a Borrower or any Subsidiary of Two Hundred Fifty Thousand Dollars ($250,000) or more; 

(h) as soon as possible and in any event within three (3) Business Days after becoming aware of the occurrence or existence of an
Event of Default or event described in Section 8 which, with the giving of notice or passage of time, or both, would constitute an Event of Default hereunder, a written statement of a Responsible Officer setting forth details of the Event of
Default, and the action which a Borrower has taken or proposes to take with respect thereto; 
 (i) if a Borrower shall acquire a
commercial tort claim (as defined in the Code), in an amount in excess of Two Hundred Fifty Thousand Dollars ($250,000), such Borrower shall promptly notify Bank in writing of the general details thereof (including the case name and docket number
and the court in which such case has been filed) and such notice shall be deemed as Borrower’s grant of a security interest therein and in the proceeds thereof; and 

 (j) such budgets, sales projections, operating plans or other financial information as
Bank may reasonably request from time to time. 
 Borrowers may deliver to Bank on an electronic basis any certificates, reports or
information required pursuant to this Section 6.3, and Bank shall be entitled to rely on the information contained in the electronic files, provided that Bank in good faith believes that the files were delivered by a Responsible Officer. If a
Borrower delivers this information electronically, it shall also deliver to Bank by U.S. Mail, reputable overnight courier service, hand delivery, facsimile or .pdf or other image file within 5 Business Days of submission of the unsigned electronic
copy the certification of monthly financial statements, the Borrowing Base Certificate and the Compliance Certificate, each bearing the physical or imaged signature of the Responsible Officer. 

6.4 Audits. Bank shall have a right from time to time hereafter to audit a Borrower’s Accounts and appraise Collateral at such
Borrower’s expense, provided that such audits will be conducted no more often than once every six (6) months unless an Event of Default has occurred and is continuing. 

6.5 Inventory; Returns. Borrowers shall keep all Inventory in good and merchantable condition, free from all material defects except for
Inventory for which adequate reserves have been made. Borrowers shall cause all returns by their customers and terminations of customer agreements to be on the same basis and in accordance with the usual customary practices of Borrowers, as they
exist from time to time. Borrowers shall promptly notify Bank of all terminations of customer agreements, and of all customer disputes and customer claims, where the termination, dispute or claim involves more than One Hundred Thousand Dollars
($100,000). 
 6.6 Taxes. Borrowers shall make, and cause each Subsidiary to make, due and timely payment or deposit of all material
federal, state, and local taxes, assessments, or contributions required of it by law, including, but not limited to, those laws concerning income taxes, F.I.C.A., F.U.T.A. and state disability, and will execute and deliver to Bank, on demand, proof
satisfactory to Bank indicating that a Borrower or a Subsidiary has made such payments or deposits and any appropriate certificates attesting to the payment or deposit thereof; provided that a Borrower or a Subsidiary need not make any payment if
the amount or validity of such payment is contested in good faith by appropriate proceedings and is reserved against (to the extent required by GAAP) by Borrowers. 

6.7 Insurance. 

(a) Borrowers, at their expense, shall keep the Collateral insured against loss or damage by fire, theft, explosion, sprinklers, and
all other hazards and risks, and in such amounts, as ordinarily insured against by other owners in similar businesses conducted in the locations where a Borrower’s business is conducted on the date hereof. Borrowers shall also maintain
insurance relating to Borrowers’ business, ownership and use of the Collateral in amounts and of a type that are customary to businesses similar to Borrowers’. 

(b) All such policies of insurance shall be in such form, with such companies, and in such amounts as are reasonably satisfactory to
Bank. All such policies of property insurance shall contain a lender’s loss payable endorsement, in a form satisfactory to Bank, showing Bank as an additional loss payee thereof, and all liability insurance policies shall show the Bank as an
additional insured and shall specify that the insurer must give at least twenty (20) days’ notice to Bank before canceling its policy for any reason. Upon Bank’s request, Borrowers shall deliver to Bank certified copies of such
policies of insurance and evidence of the payments of all premiums therefor. All proceeds payable under any such policy shall, at the option of Bank, be payable to Bank to be applied on account of the Obligations; provided that so long as no Event
of Default has occurred and is continuing, Borrowers shall have the option of applying the proceeds of any casualty policy up to Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate for all losses under all casualty policies in any one
year, toward the replacement or repair of destroyed or damaged property; provided that any such replaced or repaired property (i) shall be of equal or like value as the replaced or repaired Collateral and (ii) shall be deemed Collateral in
which Bank has been granted a first priority security interest (subject to Permitted Liens). 
 6.8 Accounts. On and after the Closing
Date, at least eighty five percent (85%) of Borrowers’ total domestic cash, cash equivalents, and investment balances shall be maintained in their accounts with Bank. Borrowers shall (i) maintain and shall cause each of their domestic
Subsidiaries to maintain their primary 

 
depository, operating, and investment accounts with Bank and (ii) endeavor to utilize and shall cause each of their domestic Subsidiaries to endeavor to utilize Bank’s International
Banking Division for any international banking services required by Borrowers, including, but not limited to, foreign currency wires, hedges, swaps, foreign exchange contracts, and letters of credit. For each account that a Borrower or any domestic
Subsidiary maintains outside of Bank, such Borrower shall cause the applicable bank or financial institution at or with which any such account is maintained to execute and deliver an account control agreement or other appropriate instrument in form
and substance satisfactory to Bank. The aggregate balance maintained in accounts outside of the United States by Borrower and all Subsidiaries shall not exceed $2,000,000 at any time. 

6.9 Financial Covenants 

(a) Minimum Cash. Borrowers shall maintain a minimum of Four Million Dollars ($4,000,000) in unrestricted cash in their account(s) at
Bank at all times. 
 (b) Minimum Quarterly Debt Service Coverage Ratio. Measured on a quarterly basis beginning with the quarter
ending December 31, 2017, Borrowers shall maintain a Debt Service Coverage Ratio of at least 1.25 to 1.00. 
 (c) Maximum EBITDA
Loss/Minimum EBITDA. Measured on a monthly basis, (i) Borrowers’ trailing three-month EBITDA loss shall not exceed (A) $350,000 for the three month period ending March 31, 2017 or (B) $80,000 for each of the three month periods
ending April 30, 2017 through July 31, 2017; and (ii) beginning with the three month period ending August 31, 2017, Borrower’s minimum trailing three-month EBITDA shall be at least $200,000 

6.10 Intellectual Property Rights. 

(a) Borrowers shall (i) protect, defend and maintain the validity and enforceability of the trade secrets, Trademarks, Patents and
Copyrights material to Borrower’s business in a manner consistent with sound commercial practice, (ii) use commercially reasonable efforts to detect infringements of the Trademarks, Patents and Copyrights material to Borrower’s
business and promptly advise Bank in writing of material infringements detected and (iii) not allow any material Trademarks, Patents or Copyrights material to Borrower’s business to be abandoned, forfeited or dedicated to the public. 

(b) Borrowers shall promptly give Bank written notice of any applications or registrations of intellectual property rights filed with
the United States Patent and Trademark Office, including the date of such filing and the registration or application numbers, if any. 

(c) Borrowers shall (i) give Bank not less than 30 days prior written notice of the filing of any applications or registrations
with the United States Copyright Office, including the title of such intellectual property rights to be registered, as such title will appear on such applications or registrations, and the date such applications or registrations will be filed, and
(ii) prior to the filing of any such applications or registrations, shall execute such documents as Bank may reasonably request for Bank to maintain its perfection in such intellectual property rights to be registered by Borrowers, and upon the
request of Bank, shall file such documents simultaneously with the filing of any such applications or registrations. Upon filing any such applications or registrations with the United States Copyright Office, Borrowers shall promptly provide Bank
with (i) a copy of such applications or registrations, without the exhibits, if any, thereto, (ii) evidence of the filing of any documents requested by Bank to be filed for Bank to maintain the perfection and priority of its security
interest in such intellectual property rights, and (iii) the date of such filing. 
 (d) Bank may audit Borrowers’
Intellectual Property Collateral to confirm compliance with this Section 6.10, provided such audit may not occur more often than twice per year, unless an Event of Default has occurred and is continuing. Bank shall have the right, but not the
obligation, to take, at Borrowers’ sole expense, any actions that a Borrower is required under this Section 6.10 to take but which such Borrower fails to take, after 10 days’ notice to such Borrower. Borrowers shall reimburse and
indemnify Bank for all reasonable costs and reasonable expenses incurred in the reasonable exercise of its rights under this Section 6.10. 

 (e) Within thirty (30) days following the Closing Date, Borrowers shall provide
evidence to Bank of the recordation with the USPTO of an assignment to Parent of all registered patent and trademark items currently listing Hirsch Electronics LLC as the registered owner. 

6.11 Formation or Acquisition of Subsidiaries. Notwithstanding and without limiting the negative covenants contained in Sections 7.3 and
7.7 hereof, at the time that a Borrower forms any direct or indirect Subsidiary or acquires any direct or indirect Subsidiary after the Closing Date, such Borrower shall (a) cause such new Subsidiary to provide to Bank a joinder to this
Agreement to cause such Subsidiary to become a co-borrower hereunder, together with such appropriate financing statements and/or control agreements, all in form and substance satisfactory to Bank (including
being sufficient to grant Bank a first priority Lien (subject to Permitted Liens) in and to the assets of such newly formed or acquired Subsidiary), (b) provide to Bank appropriate certificates and powers and financing statements, pledging all of
the direct or beneficial ownership interest in such new Subsidiary, in form and substance satisfactory to Bank, and (c) provide to Bank all other documentation in form and substance satisfactory to Bank that in its opinion is appropriate with
respect to the execution and delivery of the applicable documentation referred to above. 
 6.12 Post-Closing Covenant. Within thirty
(30) days following the Closing Date, Borrower shall provide evidence satisfactory to Bank of the dissolution of Idondemand, Inc. and the transfer of the assets (including all Intellectual Property) of Idondemand, Inc. to Borrower. 

6.13 Further Assurances. At any time and from time to time Borrowers shall execute and deliver such further instruments and take such
further action as may reasonably be requested by Bank to effect the purposes of this Agreement. 
 7. NEGATIVE
COVENANTS. 
 Borrowers will not do any of the following: 

7.1 Dispositions. Convey, sell, lease, license, transfer or otherwise dispose of (collectively, a “Transfer”), or permit any
of its Subsidiaries to Transfer, all or any part of its business or property, or move cash balances on deposit with Bank to accounts opened at another financial institution, other than: (i) Transfers of Inventory in the ordinary course of
business; (ii) Transfers of non-exclusive licenses and similar arrangements for the use of the property of a Borrower or its Subsidiaries in the ordinary course of business; (iii) Transfers of worn-out, obsolete or unneeded Equipment which was not financed by Bank; (iv) consisting of Permitted Liens and Permitted Investments; (v) consisting of Borrower’s use or transfer of money or cash in
a manner that is consistent with Borrower’s board approved financial plan and not prohibited by the terms of this Agreement or the other Loan Documents; (vi) of non-exclusive licenses for the use of
the property of Borrower or its Subsidiaries in the ordinary course of business and licenses that could not result in a legal transfer of title of the licensed property but that may be exclusive in respects other than territory and that may be
exclusive as to territory only as to discreet geographical areas outside of the United States, and (vii) other Transfers not otherwise permitted by this Section 7.1 in an amount to exceed 500,000 in the aggregate in any fiscal year. 

7.2 Change in Business or Executive Office. Engage in any business, or permit any of its Subsidiaries to engage in any business, other
than the businesses currently engaged in by Borrowers and any business substantially similar or related thereto (or incidental thereto); or experience a change in Responsible Officer; or cease to conduct business in the manner conducted by Borrowers
as of the Closing Date; or without thirty (30) days prior written notification to Bank, relocate its chief executive office or state of incorporation or change its legal name; or without Bank’s prior written consent, change the date on
which its fiscal year ends. 
 7.3 Change in Control; Mergers or Acquisitions. Suffer or permit a Change in Control; or merge or
consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other business organization, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or any material portion of
property of another Person, other than Permitted Acquisitions. Notwithstanding the foregoing, Idondemand, Inc. and any Inactive Subsidiary may at any time be merged into the Parent with prior written notice to Bank. 

 7.4 Indebtedness. Create, incur, assume, guarantee or be or remain liable with respect to
any Indebtedness, or permit any Subsidiary so to do, other than Permitted Indebtedness. 
 7.5 Encumbrances. Create, incur, assume or
suffer to exist any Lien with respect to any of its property, or assign or otherwise convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries so to do, except for Permitted Liens, or enter into any
agreement with any Person other than Bank that prohibits or otherwise restricts a Borrower from encumbering any of its property other than restrictions in equipment leases or equipment financing documents on Liens on the specific equipment being
leased or financed. 
 7.6 Distributions. Pay any dividends or make any other distribution or payment on account of or in redemption,
retirement or purchase of any capital stock, or permit any of its Subsidiaries to do so, other than (i) dividends solely in common stock; (ii) conversion of its convertible securities into other securities pursuant to the terms of such
convertible securities or otherwise in exchange thereof (iii) de minimis amounts of cash in lieu of fractional shares upon conversion of convertible securities or upon any stock split or consolidation, and (iv) stock repurchases from
former officers, directors, employees or consultants pursuant to stock repurchase agreements so long as an Event of Default does not exist at the time of such repurchase and would not exist after giving effect to such repurchase and the aggregate
amount of such repurchases in any fiscal year does not exceed $250,000. 
 7.7 Investments. Directly or indirectly acquire or own, or
make any Investment in or to any Person, or permit any of its Subsidiaries so to do, other than Permitted Investments; or suffer or permit any Subsidiary to be a party to, or be bound by, an agreement that restricts such Subsidiary from paying
dividends or otherwise distributing property to Borrowers. 
 7.8 Transactions with Affiliates. Directly or indirectly enter into or
permit to exist any material transaction with any Affiliate of Borrowers except for Permitted Investments in Subsidiaries (under clause (d) of the definition of Permitted Investments) and transactions that are in the ordinary course of
Borrowers’ business, upon fair and reasonable terms that are no less favorable to Borrowers than would be obtained in an arm’s length transaction with a non-affiliated Person. 

7.9 Subordinated Debt. Make any payment in respect of any Subordinated Debt, or permit any of its Subsidiaries to make any such payment,
except in compliance with the terms of such Subordinated Debt, or amend any provision contained in any documentation relating to the Subordinated Debt without Bank’s prior written consent. 

7.10 Inventory and Equipment. Store the Inventory or the Equipment located in the United States with a bailee, warehouseman, or other
third party unless the third party has been notified of Bank’s security interest and Bank (a) has received an acknowledgment from the third party that it is holding or will hold the Inventory or Equipment for Bank’s benefit or
(b) is in pledge possession of the warehouse receipt, where negotiable, covering such Inventory or Equipment. Store or maintain any Equipment or Inventory at a location other than the location set forth in Section 10 of this Agreement.

 7.11 Compliance. Become an “investment company” or be controlled by an “investment company,” within the meaning
of the Investment Company Act of 1940, or become principally engaged in, or undertake as one of its important activities, the business of extending credit for the purpose of purchasing or carrying margin stock, or use the proceeds of any Credit
Extension for such purpose. 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 law or
regulation, which violation could have a Material Adverse Effect, or a material adverse effect on the Collateral or the priority of Bank’s Lien on the Collateral, or permit any of its Subsidiaries to do any of the foregoing. 

 8. EVENTS OF DEFAULT. 

Any one or more of the following events shall constitute an Event of Default by Borrowers under this Agreement: 

8.1 Payment Default. If a Borrower fails to pay any of the Obligations when due. 

8.2 Covenant Default. 

(a) If a Borrower fails to perform any obligation under Article 6 (other than Section 6.1, 6.2, 6.4, 6.10(a), or 6.10(b)) or
violates any of the covenants contained in Article 7 of this Agreement; or 
 (b) If a Borrower fails or neglects to perform or
observe any obligation under Section 6.1, 6.2, 6.4, 6.10(a) or 6.10(b) or any other material term, provision, condition, or covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between
a Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within ten days after a Borrower receives notice thereof or any officer of a Borrower becomes aware
thereof; provided, however, that if the default cannot by its nature be cured within the ten day period or cannot after diligent attempts by Borrowers be cured within such ten day period, and such default is likely to be cured within a reasonable
time, then Borrowers shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event
of Default but no Credit Extensions will be made. 
 8.3 Material Adverse Effect. If there occurs any circumstance or
circumstances that has a Material Adverse Effect. 
 8.4 Attachment. If any portion of a Borrower’s assets is attached,
seized, subjected to a writ or distress warrant, or is levied upon, or comes into the possession of any trustee, receiver or person acting in a similar capacity and such attachment, seizure, writ or distress warrant or levy has not been removed,
discharged or rescinded within ten (10) days, or if a Borrower is enjoined, restrained, or in any way prevented by court order from continuing to conduct all or any material part of its business affairs, or if a judgment or other claim becomes
a lien or encumbrance upon any portion of a Borrower’s assets, or if a notice of lien, levy, or assessment is filed of record with respect to any of a Borrower’s assets by the United States Government, or any department, agency, or
instrumentality thereof, or by any state, county, municipal, or governmental agency, and the same is not paid within ten (10) days after a Borrower receives notice thereof, provided that none of the foregoing shall constitute an Event of
Default where such action or event is stayed or an adequate bond has been posted pending a good faith contest by Borrowers (provided that no Credit Extensions will be required to be made during such cure period). 

8.5 Insolvency. If a Borrower is unable to pay its debts (including trade debts) as they become due, or if an Insolvency Proceeding is
commenced by a Borrower, or if an Insolvency Proceeding is commenced against a Borrower and is not dismissed or stayed within thirty (30) days (provided that no Credit Extensions will be made prior to the dismissal of such Insolvency
Proceeding). 
 8.6 Other Agreements. If there is a default or other failure to perform in any agreement to which a Borrower is a
party or by which it is bound (including the WTI Agreement) resulting in a right by a third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of Two Hundred Fifty Thousand Dollars
($250,000) or which could have a Material Adverse Effect. 
 8.7 Judgments; Settlements; Fines; Penalties. If a judgment or judgments
for the payment of money in an amount, individually or in the aggregate, of at least Fifty Thousand Dollars ($50,000) shall be rendered against a Borrower, or if a Borrower enters into any settlement agreement with respect to any litigation matters
that results in payment obligations or liabilities incurred by such Borrower in excess of Two Hundred Fifty Thousand Dollars ($250,000); or if one or more fines, penalties or orders or decrees for the payment of money in excess of Two Hundred Fifty
Thousand Dollars ($250,000) shall be rendered against a Borrower by any governmental authority; and the foregoing shall remain unsatisfied and unstayed for a period of ten (10) days (provided that no Credit Extensions will be made prior to the
satisfaction or stay of such judgment, settlement, fine, penalty or orders or decree). 

 8.8 Misrepresentations. If any material misrepresentation or material misstatement exists
now or hereafter in any warranty or representation set forth herein or in any certificate delivered to Bank by any Responsible Officer pursuant to this Agreement or to induce Bank to enter into this Agreement or any other Loan Document. 

8.9 Guaranty. If any guaranty of all or a portion of the Obligations (a “Guaranty”) ceases for any reason to be in full force
and effect, or any guarantor fails to perform any obligation under any Guaranty or a security agreement securing any Guaranty (collectively, the “Guaranty Documents”), or any event of default occurs under any Guaranty Document or any
guarantor revokes or purports to revoke a Guaranty, or any material misrepresentation or material misstatement exists now or hereafter in any warranty or representation set forth in any Guaranty Document or in any certificate delivered to Bank in
connection with any Guaranty Document, or if any of the circumstances described in Sections 8.3 through 8.8 occur with respect to any guarantor or any guarantor dies or becomes subject to any criminal prosecution, or any circumstances arise causing
Bank, in good faith, to become insecure as to the satisfaction of any of any guarantor’s obligations under the Guaranty Documents. 

9. BANK’S RIGHTS AND REMEDIES. 

9.1 Rights and Remedies. Upon the occurrence and during the continuance of an Event of Default, Bank may, at its election, without
notice of its election and without demand, do any one or more of the following, all of which are authorized by Borrowers: 
 (a)
Declare all or any portion of Obligations, whether evidenced by this Agreement, by any of the other Loan Documents, or otherwise, immediately due and payable (provided that upon the occurrence of an Event of Default described in Section 8.5,
all Obligations shall become immediately due and payable without any action by Bank); 
 (b) Cease advancing money or extending
credit to or for the benefit of Borrowers under this Agreement or under any other agreement between Borrowers and Bank; 
 (c) Settle
or adjust disputes and claims directly with account debtors for amounts, upon terms and in whatever order that Bank reasonably considers advisable; 

(d) Make such payments and do such acts as Bank considers necessary or reasonable to protect its security interest in the Collateral.
Borrowers agree to assemble the Collateral if Bank so requires, and to make the Collateral available to Bank as Bank may designate. Each Borrower authorizes Bank to enter the premises where the Collateral is located, to take and maintain possession
of the Collateral, or any part of it, and to pay, purchase, contest, or compromise any encumbrance, charge, or lien which in Bank’s determination appears to be prior or superior to its security interest and to pay all expenses incurred in
connection therewith. With respect to any of a Borrower’s owned premises, each Borrower hereby grants Bank a license to enter into possession of such premises and to occupy the same, without charge, in order to exercise any of Bank’s
rights or remedies provided herein, at law, in equity, or otherwise; 
 (e) Set off and apply to the Obligations any and all
(i) balances and deposits of Borrowers held by Bank, or (ii) indebtedness at any time owing to or for the credit or the account of Borrowers held by Bank; 

(f) Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell (in the manner provided for
herein) the Collateral. Bank is hereby granted a license or other right, solely pursuant to the provisions of this Section 9.1, to use, without charge, a Borrower’s labels, patents, copyrights, rights of use of any name, trade secrets,
trade names, trademarks, service marks, and advertising matter, or any property of a similar nature, as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s
exercise of its rights under this Section 9.1, Borrowers’ rights under all licenses and all franchise agreements shall inure to Bank’s benefit; 

 (g) Dispose of the Collateral at either a public or private sale, or both, by way of one
or more contracts or transactions, for cash or on terms, in such manner and at such places (including Borrowers’ premises) as Bank determines is commercially reasonable, and apply any proceeds to the Obligations in whatever manner or order Bank
deems appropriate. Bank may sell the Collateral without giving any warranties as to the Collateral; 
 (h) Bank may credit bid and
purchase at any public sale; and 
 (i) Apply for the appointment of a receiver, trustee, liquidator or conservator of the
Collateral, without notice and without regard to the adequacy of the security for the Obligations and without regard to the solvency of Borrowers, any guarantor or any other Person liable for any of the Obligations; and 

(j) Any deficiency that exists after disposition of the Collateral as provided above will be paid immediately by Borrowers. 

Bank may comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and compliance will not be considered
adversely to affect the commercial reasonableness of any sale of the Collateral. 
 9.2 Power of Attorney. Effective only upon the
occurrence and during the continuance of an Event of Default, each Borrower hereby irrevocably appoints Bank (and any of Bank’s designated officers, or employees) as such Borrower’s true and lawful attorney to: (a) send requests for
verification of Accounts or notify account debtors of Bank’s security interest in the Accounts; (b) endorse such Borrower’s name on any checks or other forms of payment or security that may come into Bank’s possession;
(c) sign such Borrower’s name on any invoice or bill of lading relating to any Account, drafts against account debtors, schedules and assignments of Accounts, verifications of Accounts, and notices to account debtors; (d) dispose of
any Collateral; (e) make, settle, and adjust all claims under and decisions with respect to such Borrower’s policies of insurance; (f) settle and adjust disputes and claims respecting the accounts directly with account debtors, for
amounts and upon terms which Bank determines to be reasonable; (g) demand, collect, receive, sue, and give releases to any account debtor for the monies due or which may become due upon or with respect to the Accounts and to compromise,
prosecute, or defend any action, claim, case or proceeding relating to the Accounts; (h) sell, assign, transfer, pledge, compromise, discharge or otherwise dispose of any Collateral; (i) enter into a short-form intellectual property
security agreement consistent with the terms of this Agreement for recording purposes only or modify, in its sole discretion, any intellectual property security agreement entered into between Borrowers and Bank without first obtaining
Borrowers’ approval of or signature to such modification by amending Exhibits A, B, and C thereof, as appropriate, to include reference to any right, title or interest in any Copyrights, Patents or Trademarks acquired by Borrowers after the
execution hereof or to delete any reference to any right, title or interest in any Copyrights, Patents or Trademarks in which Borrowers no longer has or claims to have any right, title or interest; (j) execute on behalf of Borrowers any and all
instruments, documents, financing statements and the like to perfect Bank’s interests in the Accounts and Collateral and file, in its sole discretion, one or more financing or continuation statements and amendments thereto, relative to any of
the Collateral; and (k) file, in its sole discretion, one or more financing or continuation statements and amendments thereto, relative to any of the Collateral without the signature of Borrowers where permitted by law; provided Bank may
exercise such power of attorney to sign the name of a Borrower on any of the documents described in clauses (i), (j) and (k) above, regardless of whether an Event of Default has occurred. The appointment of Bank as each Borrower’s attorney
in fact, and each and every one of Bank’s rights and powers, being coupled with an interest, is irrevocable until all of the Obligations have been fully repaid and performed and Bank’s obligation to provide Credit Extensions hereunder is
terminated. 
 9.3 Accounts Collection. At any time after the occurrence of an Event of Default, Bank may notify any Person owing
funds to Borrowers of Bank’s security interest in such funds and verify the amount of such Account. Borrowers shall collect all amounts owing to Borrowers for Bank, receive in trust all payments as Bank’s trustee, and immediately deliver
such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit. 

 9.4 Bank Expenses. If Borrowers fail to pay any amounts or furnish any required proof of
payment due to third persons or entities, as required under the terms of this Agreement, then Bank may do any or all of the following: (a) make payment of the same or any part thereof; (b) set up such reserves under a loan facility in
Section 2.1 as Bank deems necessary to protect Bank from the exposure created by such failure; or (c) obtain and maintain insurance policies of the type discussed in Section 6.7 of this Agreement, and take any action with respect to
such policies as Bank deems prudent. Any amounts so paid or deposited by Bank shall constitute Bank Expenses, shall be immediately due and payable, and shall bear interest at the then applicable rate hereinabove provided, and shall be secured by the
Collateral. Any payments made by Bank shall not constitute an agreement by Bank to make similar payments in the future or a waiver by Bank of any Event of Default under this Agreement. 

9.5 Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices, Bank shall not in any way or
manner be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (c) any diminution in the value thereof; or (d) any act or
default of any carrier, warehouseman, bailee, forwarding agency, or other person whomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrowers. 

9.6 Shares. Borrowers recognize that Bank may be unable to effect a public sale of any or all the Shares, by reason of certain
prohibitions contained in federal securities laws and applicable state and provincial securities laws or otherwise, and may be compelled to resort to one or more private sales thereof to a restricted group of purchasers which will be obliged to
agree, among other things, to acquire such securities for their own account for investment and not with a view to the distribution or resale thereof. Borrowers acknowledge and agree that any such private sale may result in prices and other terms
less favorable than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner. Bank shall be under no obligation to delay a sale
of any of the Shares for the period of time necessary to permit the issuer thereof to register such securities for public sale under federal securities laws or under applicable state and provincial securities laws, even if such issuer would agree to
do so. Upon the occurrence of an Event of Default which continues, Bank shall have the right to exercise all such rights as a secured party under the Code as it, in its sole judgment, shall deem necessary or appropriate, including without limitation
the right to liquidate the Shares and apply the proceeds thereof to reduce the Obligations. Effective only upon the occurrence and during the continuance of an Event of Default, each Borrower hereby irrevocably appoints Bank (and any of Bank’s
designated officers, or employees) as such Borrower’s true and lawful attorney to enforce such Borrower’s rights against any Subsidiary, including the right to compel any Subsidiary to make to the Bank or a Borrower any payments or
distributions respecting the Shares which are owing to such Borrower. 
 9.7 Remedies Cumulative. Bank’s rights and remedies
under this Agreement, the Loan Documents, and all other agreements shall be cumulative. Bank shall have all other rights and remedies not inconsistent herewith as provided under the Code, by law, or in equity. No exercise by Bank of one right or
remedy shall be deemed an election, and no waiver by Bank of any Event of Default on a Borrower’s part shall be deemed a continuing waiver. No delay by Bank shall constitute a waiver, election, or acquiescence by it. No waiver by Bank shall be
effective unless made in a written document signed on behalf of Bank and then shall be effective only in the specific instance and for the specific purpose for which it was given. Each Borrower expressly agrees that this Section 9.6 may not be
waived or modified by Bank by course of performance, conduct, estoppel or otherwise. 
 9.8 Demand; Protest. Each Borrower waives
demand, protest, notice of protest, notice of default or dishonor, notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel
paper, and guarantees at any time held by Bank on which Borrowers may in any way be liable. 
 10. NOTICES. 

All notices, consents, requests, approvals, demands, or other communication by any party to this Agreement or any other Loan Document must be
in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt
requested, with proper postage prepaid; (b) upon transmission, when sent by electronic mail or facsimile transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (d) when
delivered, if hand-delivered by messenger, all of which shall be 

 
addressed to the party to be notified and sent to the address, facsimile number, or email address indicated below. Bank or a Borrower may change its mailing or electronic mail address or
facsimile number by giving the other party written notice thereof in accordance with the terms of this Section 10. 
 If to Borrowers:
                         IDENTIV, INC. 

2201 Walnut Avenue, Suite 100 

Fremont, CA 94538 
 Attn: Steven
Humphreys—CEO 
 EMAIL: shumphreys@identiv.com 

If to Bank:
                                 EAST WEST BANK 

Technology & Commercial Banking Group 

2350 Mission College Blvd., Suite 988 

Santa Clara, CA 95054 
 Attn:
Kelvin Chan 
 Fax: (408) 588-9688 

The parties hereto may change the address at which they are to receive notices hereunder, by notice in writing in the foregoing manner given
to the other. 
 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. Jurisdiction shall lie in the State of California. BANK AND BORROWERS EACH ACKNOWLEDGE THAT THE RIGHT TO TRIAL BY JURY IS A CONSTITUTIONAL ONE, BUT THAT IT MAY BE WAIVED. EACH OF THEM, AFTER CONSULTING OR HAVING HAD
THE OPPORTUNITY TO CONSULT, WITH COUNSEL OF THEIR CHOICE, KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY RELATED INSTRUMENT OR
LOAN DOCUMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY COURSE OF CONDUCT, DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN), OR ACTION OF ANY OF THEM. THESE PROVISIONS SHALL NOT BE DEEMED TO HAVE BEEN MODIFIED IN ANY RESPECT OR
RELINQUISHED BY BANK OR BORROWERS, EXCEPT BY A WRITTEN INSTRUMENT EXECUTED BY EACH OF THEM. 
 WITHOUT INTENDING IN ANY WAY TO LIMIT THE
PARTIES’ AGREEMENT TO WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY, if the waiver of the right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature between them arising at
any time shall be decided by a reference to a private judge, who shall be a retired state or federal court judge, mutually selected by the parties or, if they cannot agree, then any party may seek to have a private judge appointed in accordance with
California Code of Civil Procedure §§ 638 and 640 (or pursuant to comparable provisions of federal law if the dispute falls within the exclusive jurisdiction of the federal courts). The reference proceedings shall be conducted pursuant to
and in accordance with the provisions of California Code of Civil Procedure §§ 638 through 645.1, inclusive. The private judge shall have the power, among others, to grant provisional relief, including without limitation, entering
temporary restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such proceedings shall be closed to the public and confidential and all records relating thereto shall be permanently sealed. If during the
course of any dispute, a party desires to seek provisional relief, but a judge has not been appointed at that point pursuant to the judicial reference procedures, then such party may apply to the court for such relief. The proceeding before the
private judge shall be conducted in the same manner as it would be before a court under the rules of evidence applicable to judicial proceedings. The parties shall be entitled to discovery which shall be conducted in the same manner as it would be
before a court under the rules of discovery applicable to judicial proceedings. The private judge shall oversee discovery and may enforce all discovery rules and orders applicable to judicial proceedings in the same manner as a trial court judge.
The parties agree that the selected or appointed private judge shall have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall report a statement of decision thereon pursuant to California Code of Civil
Procedure § 644(a). The 

 
private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this paragraph. The parties agree that time is of the essence in conducting the
referenced proceedings. The parties shall promptly and diligently cooperate with one another and the referee, and shall perform such acts as may be necessary to obtain prompt and expeditious resolution of the dispute or controversy in accordance
with the terms hereof. Nothing in this section shall limit the right of any party at any time to exercise self-help remedies, foreclose against Collateral or obtain provisional remedies, and Bank may bring 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 Bank. Notwithstanding any provision of this Agreement, Bank may bring 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 Bank. 

12. GENERAL PROVISIONS. 

12.1 Successors and Assigns. This Agreement shall bind and inure to the benefit of the respective successors and permitted assigns of
each of the parties; provided, however, that neither this Agreement nor any rights hereunder may be assigned by a Borrower without Bank’s prior written consent, which consent may be granted or withheld in Bank’s sole discretion. Bank shall
have the right without the consent of or notice to Borrowers to sell, transfer, negotiate, or grant participation in all or any part of, or any interest in, Bank’s obligations, rights and benefits hereunder. 

12.2 Indemnification. Each Borrower shall defend, indemnify and hold harmless Bank and its officers, employees, and agents against:
(a) all obligations, demands, claims, and liabilities claimed or asserted by any other party in connection with the transactions contemplated by this Agreement; and (b) all losses or Bank Expenses in any way suffered, incurred, or paid by
Bank, its officers, employees and agents as a result of or in any way arising out of, following, or consequential to the transactions between Bank and Borrower whether under this Agreement, or otherwise (including without limitation attorneys’
fees and expenses), except for losses caused by Bank’s gross negligence or willful misconduct. 
 12.3 Time of Essence. Time is
of the essence for the performance of all obligations set forth in this Agreement. 
 12.4 Correction of Loan Documents. Bank may,
with notice to the Borrowers, correct patent errors and fill in any blanks in this Agreement and the other Loan Documents consistent with the agreement of the parties. 

12.5 Severability of Provisions. Each provision of this Agreement shall be severable from every other provision of this Agreement for
the purpose of determining the legal enforceability of any specific provision. 
 12.6 Amendments in Writing, Integration. All
amendments to or terminations of this Agreement or the other Loan Documents must be in writing. All prior agreements, understandings, representations, warranties, and negotiations between the parties hereto with respect to the subject matter of this
Agreement and the other Loan Documents, if any, are merged into this Agreement and the Loan Documents.. 
 12.7 Counterparts. 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. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding
obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof. 

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 or Bank has any obligation to make Credit Extensions to Borrowers. The obligations of each Borrower to indemnify Bank with respect to the expenses, damages, losses, costs and liabilities described in
Section 13.2 shall survive until all applicable statute of limitations periods with respect to actions that may be brought against Bank have run. 

 12.9 Confidentiality. In handling any confidential information, Bank and all employees and
agents of Bank shall exercise the same degree of care that Bank exercises with respect to its own proprietary information of the same types to maintain the confidentiality of any non-public information thereby
received or received pursuant to this Agreement except that disclosure of such information may be made (i) to the subsidiaries or Affiliates of Bank in connection with their present or prospective business relations with Borrower, (ii) to
prospective transferees or purchasers of any interest in the Credit Extensions, provided that they have entered into a comparable confidentiality agreement in favor of Borrowers, (iii) as required by law, regulations, rule or order, subpoena,
judicial order or similar order, (iv) as may be required in connection with the examination, audit or similar investigation of Bank and (v) as Bank may determine in connection with the enforcement of any remedies hereunder. Confidential
information hereunder shall not include information that either: (a) is in the public domain or in the knowledge or possession of Bank when disclosed to Bank, or becomes part of the public domain after disclosure to Bank through no fault of
Bank; or (b) is disclosed to Bank by a third party, provided Bank does not have actual knowledge that such third party is prohibited from disclosing such information. 

12.10 Patriot Act Notice. Bank hereby notifies Borrowers that, pursuant to the requirements of the USA Patriot Act, Title III of Pub. L.
107-56 (signed into law on October 26, 2001) (the “ Patriot Act “), it is required to obtain, verify and record information that identifies the Borrowers, which information includes names and
addresses and other information that will allow Bank, as applicable, to identify the Borrowers in accordance with the Patriot Act. 
 13.
CO-BORROWERS. 
 13.1
Co-Borrowers. Borrowers are jointly and severally liable for the Obligations and Bank may proceed against one Borrower to enforce the Obligations without waiving its right to proceed against any other
Borrower. This Agreement and the Loan Documents are a primary and original obligation of each Borrower and shall remain in effect notwithstanding future changes in conditions, including any change of law or any invalidity or irregularity in the
creation or acquisition of any Obligations or in the execution or delivery of any agreement between Bank and any Borrower. Each Borrower shall be liable for existing and future Obligations as fully as if all of the Credit Extensions were advanced to
such Borrower. Bank may rely on any certificate or representation made by any Borrower as made on behalf of, and binding on, all Borrowers, including without limitation advance request forms and compliance certificates. Each Borrower appoints each
other Borrower as its agent with all necessary power and authority to give and receive notices, certificates or demands for and on behalf of all Borrowers, to act as disbursing agent for receipt of any Credit Extensions on behalf of each Borrower
and to apply to Bank on behalf of each Borrower for any Credit Extension, any waivers and any consents. This authorization cannot be revoked, and Bank need not inquire as to one Borrower’s authority to act for or on behalf of another Borrower.

 13.2 Subrogation and Similar Rights. Notwithstanding any other provision of this Agreement or any other Loan Document, each
Borrower irrevocably waives, until all Obligations are paid in full and Bank has no further obligation to make Credit Extensions to Borrowers, all rights that it may have at law or in equity (including, without limitation, any law subrogating a
Borrower to the rights of Bank under the Loan Documents) to seek contribution, indemnification, or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the
Obligations, for any payment made by a Borrower with respect to the Obligations in connection with the Loan Documents or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result
of any payment made by a Borrower with respect to the Obligations in connection with the Loan Documents or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section shall be null and
void. If any payment is made to a Borrower in contravention of this Section, such Borrower shall hold such payment in trust for Bank and such payment shall be promptly delivered to Bank for application to the Obligations, whether matured or
unmatured. 
 13.3 Waivers of Notice. Each Borrower waives, to the extent permitted by law, notice of acceptance hereof; notice of the
existence, creation or acquisition of any of the Obligations; notice of an Event of Default except as set forth herein; notice of the amount of the Obligations outstanding at any time; notice of any 

 
adverse change in the financial condition of any other Borrower or of any other fact that might increase a Borrower’s risk; presentment for payment; demand; protest and notice thereof as to
any instrument; and all other notices and demands to which a Borrower would otherwise be entitled by virtue of being a co-borrower or a surety. Each Borrower waives any defense arising from any defense of any
other Borrower, or by reason of the cessation from any cause whatsoever of the liability of any other Borrower. Bank’s failure at any time to require strict performance by any Borrower of any provision of the Loan Documents shall not waive,
alter or diminish any right of Bank thereafter to demand strict compliance and performance therewith. Each Borrower also waives any defense arising from any act or omission of Bank that changes the scope of a Borrower’s risks hereunder. Each
Borrower hereby waives any right to assert against Bank any defense (legal or equitable), setoff, counterclaim, or claims that such Borrower individually may now or hereafter have against another Borrower or any other Person liable to Bank with
respect to the Obligations in any manner or whatsoever. 
 13.4 Subrogation Defenses. Until all Obligations are paid in full and Bank
has no further obligation to make Credit Extensions to Borrowers, each Borrower hereby waives any defense based on impairment or destruction of its subrogation or other rights against any other Borrower and waives all benefits which might otherwise
be available to it under California Civil Code Sections 2809, 2810, 2819, 2839, 2845, 2848, 2849, 2850, 2899, and 3433 and California Code of Civil Procedure Sections 580a, 580b, 580d and 726, as those statutory provisions are now in effect and
hereafter amended, and under any other similar statutes now and hereafter in effect. 
 13.5 Right to Settle, Release. 

(a) The liability of Borrowers hereunder shall not be diminished by (i) any agreement, understanding or representation that any of
the Obligations is or was to be guaranteed by another Person or secured by other property, or (ii) any release or unenforceability, whether partial or total, of rights, if any, which Bank may now or hereafter have against any other Person,
including another Borrower, or property with respect to any of the Obligations. 
 (b) Without notice to any given Borrowers and
without affecting the liability of any given Borrowers hereunder, Bank may (i) compromise, settle, renew, extend the time for payment, change the manner or terms of payment, discharge the performance of, decline to enforce, or release all or
any of the Obligations with respect to any other Borrower by written agreement with such other Borrower, (ii) grant other indulgences to another Borrower in respect of the Obligations, (iii) modify in any manner any documents relating to
the Obligations with respect to any other Borrower by written agreement with such other Borrower, (iv) release, surrender or exchange any deposits or other property securing the Obligations, whether pledged by a Borrower or any other Person, or
(v) compromise, settle, renew, or extend the time for payment, discharge the performance of, decline to enforce, or release all or any obligations of any guarantor, endorser or other Person who is now or may hereafter be liable with respect to
any of the Obligations. 
 13.6 Subordination. All indebtedness of a Borrower now or hereafter arising held by another Borrower is
subordinated to the Obligations and a Borrower holding the indebtedness shall take all actions reasonably requested by Bank to effect, to enforce and to give notice of such subordination. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

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

			
	BORROWERS:
	
	IDENTIV, INC. 
		
	By:	 	/s/ STEVEN FINNEY
	Name:	 	STEVEN FINNEY
	Title:	 	INTERIM CFO
	
	BANK:
	
	EAST WEST BANK
		
	By:	 	/s/ KELVIN CHAN
	Name:	 	KELVIN CHAN
	Title:	 	TECHNOLOGY AND COMMERCIAL GROUP, SVP.

 EXHIBIT A 

DEBTOR:
                           IDENTIV, INC. [AND ANY OTHER BORROWER] 

SECURED PARTY:           EAST WEST BANK 

COLLATERAL DESCRIPTION ATTACHMENT 

TO LOAN AND SECURITY AGREEMENT 

The Collateral consists of all right, title and interest of each Borrower in and to the property of such Borrower, whether presently existing
or hereafter created or acquired, and wherever located, including, but not limited to: 
 All personal property of each Borrower (herein
referred to as “Borrower” or “Debtor”) whether presently existing or hereafter created or acquired, and wherever located, including, but not limited to: 

(a) all accounts (including health-care-insurance receivables), chattel paper (including tangible and electronic chattel paper), commercial
tort claims, deposit accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), general intangibles (including payment intangibles and software), goods (including fixtures), instruments
(including promissory notes), inventory (including all goods held for sale or lease or to be furnished under a contract of service, and including returns and repossessions), investment property (including securities and securities entitlements),
letter of credit rights, money, and all of Debtor’s books and records with respect to any of the foregoing, and the computers and equipment containing said books and records; 

(b) all common law and statutory copyrights and copyright registrations, applications for registration, now existing or hereafter arising, in
the United States of America or in any foreign jurisdiction, obtained or to be obtained on or in connection with any of the forgoing, or any parts thereof or any underlying or component elements of any of the forgoing, together with the right to
copyright and all rights to renew or extend such copyrights and the right (but not the obligation) of Secured Party to sue in its own name and/or in the name of the Debtor for past, present and future infringements of copyright; 

(c) all trademarks, service marks, trade names and service names and the goodwill associated therewith, together with the right to trademark
and all rights to renew or extend such trademarks and the right (but not the obligation) of Secured Party to sue in its own name and/or in the name of the Debtor for past, present and future infringements of trademark; 

(d) all (i) patents and patent applications filed in the United States Patent and Trademark Office or any similar office of any foreign
jurisdiction, and interests under patent license agreements, including, without limitation, the inventions and improvements described and claimed therein, (ii) licenses pertaining to any patent whether Debtor is licensor or licensee,
(iii) income, royalties, damages, payments, accounts and accounts receivable now or hereafter due and/or payable under and with respect thereto, including, without limitation, damages and payments for past, present or future infringements
thereof, (iv) right (but not the obligation) to sue in the name of Debtor and/or in the name of Secured Party for past, present and future infringements thereof, (v) rights corresponding thereto throughout the world in all jurisdictions in
which such patents have been issued or applied for, and (vi) reissues, divisions, continuations, renewals, extensions and continuations-in-part with respect to any
of the foregoing; and 
 (e) any and all cash proceeds and/or noncash proceeds of any of the foregoing, including, without limitation,
insurance proceeds, and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the California Uniform Commercial Code, as amended or supplemented from time to time. 

 EXHIBIT B 

PAYMENT/ADVANCE FORM 
  

							
	TO: East West Bank	  	DATE:                    	  		  	TIME:                    
	FAX #:    (408) 748-1268	  		  		  	

  

									
	FROM:	  	Identiv, Inc., on behalf of all Borrowers	  	 	  	TELEPHONE REQUEST (For Bank Use Only):	  	 
	 	  	  

                          
                                  

Authorized Signer’s Name
	  	 	  	  
 The following person is authorized to request the loan payment
transfer/loan advance on the designated account and is known to me.
	  	 
	 	  	  

                          
                                  

Authorized Signature (Borrower)
	  	 	  	  

                      
                                      

Authorized Request & Phone #
	  	 
	 		 		 
	PHONE#:	  	                                      
                      	  	 	  	
                      
                                      
	  	 
	 	  		  	 	  	 Received by (Bank) & Phone #
	  	 
	FROM
ACCOUNT#:                                	  	 	  		  	 
	(please include Note number, if applicable)	  	
                      
                                      
	  	 
	TO ACCOUNT
#:                                	  	 	  	 Authorized Signature (Bank)
	  	 
	(please include Note number, if applicable)	  	 	  	 

  

									
	REQUESTED TRANSACTION TYPE	  	REQUESTED DOLLAR AMOUNT	  	For Bank Use Only
	 	 	 
	PRINCIPAL INCREASE* (ADVANCE)	  	$                               
     	  	Date Rec’d:
	PRINCIPAL PAYMENT (ONLY)	  	$                               
     	  	Time:
	 	  	 	  	Comp. Status:	  	YES	  	NO
	OTHER INSTRUCTIONS:	  	Status Date:
	 	  	Time:
	 	  	Approval:

 All representations and warranties of Borrowers stated in the Loan Agreement are true, correct and complete in all material
respects as of the date of the telephone request for an advance confirmed by this Borrowing Certificate, including without limitation the representation that each Borrower has paid for and owns the equipment financed by the Bank; provided, however,
that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date. 
  

					
	*IS THERE A WIRE REQUEST TIED TO THIS LOAN ADVANCE? (PLEASE CIRCLE ONE)	  	YES    	  	NO
	If YES, the Outgoing Wire Transfer Instructions must be completed below.

  

							
	OUTGOING WIRE TRANSFER INSTRUCTIONS  	  	Fed Reference Number        	  	Bank Transfer Number        
	
The items marked with an asterisk (*) are required to be completed.

 

	*Beneficiary Name               
             	  	 	  	 	  	 
	*Beneficiary Account Number	  	 	  	 	  	 
	*Beneficiary Address	  	 	  	 	  	 
	Currency Type	  	 	  	
US DOLLARS ONLY

	*ABA Routing Number (9 Digits)	  	 	  	 	  	 
	*Receiving Institution Name	  	 	  	 	  	 
	*Receiving Institution Address	  	 	  	 	  	 
	*Wire Account	  	 	  	$

 EXHIBIT B-1 

REVOLVING FACILITY NOTE 
  

			
	$10,000,000	  	February 8, 2017
		  	Santa Clara, California

 For Value Received, the undersigned, IDENTIV, INC. (“Borrower”), Hereby Promise To Pay to the order of East West
Bank (the “Bank”) at its Principal Office located at 2350 Mission College Blvd., Suite 988, Santa Clara, CA 95054, or at such other place as Bank may from time to time designate in writing, in lawful money of the United States and in
immediately available funds, the principal amount of Ten Million Dollars ($10,000,000.00) or so much of the Advances (as defined in the Loan Agreement (defined below)) as may be advanced from time to time, together with interest from the date of
disbursement computed on the principal balances hereof from time to time outstanding as set forth in the Loan and Security Agreement dated the date hereof by and between Bank and Borrowers, and as amended from time to time (the “Loan
Agreement”). The Loan Agreement is incorporated herein by this reference in its entirety. Capitalized terms used but not otherwise defined herein are used in this Revolving Facility Note as defined in the Loan Agreement. 

This Revolving Facility Note is entitled to the benefits of, the Loan Agreement. The Loan Agreement, among other things, contains provisions for acceleration
of the maturity of this Revolving Facility Note upon the happening of certain stated events and also for prepayments on account of principal hereof prior to the maturity of this Revolving Facility Note upon the terms and conditions specified in the
Loan Agreement. This Revolving Facility Note is also secured by the Collateral described in the Loan Agreement, and reference to the Loan Agreement is hereby made for a description of the rights of Borrowers and Bank in respect to such Collateral.

 Borrowers further promise to pay interest on the unpaid principal amount hereof outstanding from time to time from the date hereof until payment in full
hereof at the rate (or rates) from time to time applicable to the Advances as determined in accordance with the Loan Agreement. Interest shall be calculated on the basis of a three hundred sixty (360)-day year
for the actual days elapsed. 
 Each Borrower waives demand, presentment and protest, and notice of demand, presentment, protest and nonpayment. Except as
otherwise provided in the Loan Agreement or other Loan Documents, each Borrower waives all rights to notice and hearing of any kind upon the occurrence of an Event of Default prior to the exercise by Bank of its rights to repossess the Collateral
without judicial process or to replevy, attach or levy upon the Collateral without notice or hearing. 
 If this Revolving Facility Note is not paid when
due, whether at its specified or accelerated maturity date, Borrowers promise to pay all costs of collection and enforcement of this Revolving Facility Note, including, but not limited to, reasonable attorneys’ fees and costs, incurred by Bank
hereof on account of such collection or enforcement, whether or not suit is filed hereon. 
 This Revolving Facility Note shall be governed and construed in
accordance with the laws of the State of California. 
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

 IN WITNESS WHEREOF, the undersigned has executed and delivered this
Revolving Facility Note as of the date and year first above written. 
  

			
	IDENTIV, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 

 

 EXHIBIT D 

COMPLIANCE CERTIFICATE 
 TO:
            EAST WEST BANK 
 FROM:       IDENTIV, INC. 

The undersigned authorized officer of IDENTIV, INC., on behalf of itself and all other Borrowers, hereby certifies that in accordance with the
terms and conditions of the Loan and Security Agreement between Borrowers and Bank (the “Agreement”), (i) each Borrower is in complete compliance for the period ending
                     with all required covenants except as noted below and (ii) all representations and warranties of Borrowers stated in the
Agreement are true and correct as of the date hereof. Attached herewith are the required documents supporting the above certification. The Officer further certifies that the annual financial statements are prepared in accordance with Generally
Accepted Accounting Principles (GAAP) and such other financial information is prepared consistently from one period to the next; except as explained in an accompanying letter or footnotes. 

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

 

															
	 Reporting Covenant
	 	Required	 	 	Complies	 
	 Weekly Borrowing Base Certificate
	 	Weekly by Friday	  	 	 	Yes	  	 	 	No	  
	 Sales journal
	 	Weekly by Friday	  	 	 	Yes	  	 	 	No	  
	 Collections journal
	 	Weekly by Friday	  	 	 	Yes	  	 	 	No	  
	 Purchases journal
	 	Weekly by Friday	  	 	 	Yes	  	 	 	No	  
	 Non-cash charges journal
	 	Weekly by Friday	  	 	 	Yes	  	 	 	No	  
	 A/R & A/P Agings
	 	Monthly within 20 days	  	 	 	Yes	  	 	 	No	  
	 Inventory report
	 	Monthly within 20 days	  	 	 	Yes	  	 	 	No	  
	 Compliance Certificate
	 	Monthly within 20 days	  	 	 	Yes	  	 	 	No	  
	 Monthly financial statements with compliance certificate
	 	Monthly within 30 days	  	 	 	Yes	  	 	 	No	  
	 Annual financial statements (CPA Audited)
	 	Annually within 180 days of fiscal year end	  	 	 	Yes	  	 	 	No	  
	 Annual operating budget, sales projections and operating plans approved by board of
directors
	 	Annually no later than 30 days prior to the beginning of each fiscal year	     	 	 	Yes	  	 	 	No	  
	 A/R and Collateral Audit
	 	Initial and Semi-Annual	  	 	 	Yes	  	 	 	No	  
	 Deposit balances with Bank
	 	$                    	  	 	 	Yes	  	 	 	No	  
	 Deposit balance outside Bank
	 	$                    	 				 				 			
				
	 Financial Covenant
	 	Required	 	Actual	 	 	Complies	 
	 Minimum Unrestricted Cash
	 	$4,000,000	 	 	$                    	  	 	 	Yes	  	 	 	No	  
	 Minimum Debt Service Coverage Ratio –quarterly
	 	1.25 : 1.00	 	 	             : 1.00	  	 	 	Yes	  	 	 	No	  
	 Maximum trailing 3 month EBITDA—monthly
	 	3/31/17: ($350,000)
 4/30/17: ($80,000)

5/31/17: ($80,000)
 6/30/17: ($80,000)

7/31/17: ($80,000)
 8/31/17 and after: $200,000
	 	 
  

 
  

 
  
	$                    

$                    

$                    

$                    

$                    

$                    
	  
   

  
   

  
   
	 	 
  
  

 
  

 
	Yes
 Yes
 Yes

Yes
 Yes

Yes
	  
   

  
   

  
   
	 	 
  
  

 
  

 
	No
 No
 No

No
 No

No
	  
   

  
   

  
   

		 		 				 				 			
	 Comments Regarding Exceptions: See Attached.
	 	BANK USE ONLY	  
		 	Received
by:                                        
                                         
                   	  
	 Sincerely,
	 	AUTHORIZED SIGNER	  
		 	Date:                                  
                                         
                                      	  
		 
	                                      
                                  	 	Verified:                                  
                                         
                                	  
	 SIGNATURE
	 	AUTHORIZED SIGNER	  
		 
	
                          
                                         
     
 TITLE
	 	Date:                                  
                                         
                                      	  
	                                      
                                  	 	Compliance Status	 				 	 	Yes                No	  	 			 
	 DATE
	 		 
		 	 	 

 SCHEDULE OF EXCEPTIONS 

Permitted Indebtedness (Section 1.1) 

Indebtedness payable to Secure Keyboards, Ltd. under an Amended and Restated Settlement Agreement dated as of April 8, 2009. 

Permitted Investments (Section 1.1) 
 Equity
investment of 19.9% in Rockwest Technology Group, d/b/a Multicard US 
 Prior Names (Section 5.7) 

Identive Group, Inc.     11/09/09 to 05/22/14 

SCM Microsystems, Inc.    12/13/96 to 11/09/09 

Prior Locations (Section 5.7) 
 39300 Civic Center
Drive, Suites 140/160 Fremont, CA 94538 
 Operating Deposit and Investment Accounts (Section 5.16) 

 

			
	Institution Name:	  	Opus Bank
	Address:	  	19900 MacArthur Boulevard, 12th Irvine, CA 92612
	ABA No.:	  	XXXXXXX
	Contact Name:	  	Claudia Bustos
	Phone No.:	  	949-251-8124
	E-mail:	  	cbustos@opusbank.com
	Account Title:	  	Identiv, Inc.
	Account No.:	  	XXXXXXX
	Account No.:	  	XXXXXXX

  

			
	Institution Name:	  	Union Bank
	Address:	  	400 California St, San Francisco, CA 94101
	ABA No.:	  	XXXXXXX
	Contact Name:	  	Brina Christopher
	Phone No.:	  	949-553-6862
	E-mail:	  	Brina.Christopher@unionbank.com
	Account Title:	  	Identiv, Inc.
	Account No.:	  	XXXXXXX

 Inactive Subsidiaries 
  

			
	Name	 	
		
	Shuttle Technology Inc.	 	
		
	Microtech International Inc.	 	
		
	SCM Microsystems (US) Inc.	 	
		
	Dazzle Multimedia Inc.	 	
		
	Intermart Systems Inc.	 	
		
	ACiG Technology Corp.EX-10.2

 Exhibit 10.2 

LOAN AND SECURITY AGREEMENT 

Dated as of February 8, 2017 

between 
 IDENTIV, INC.,

 a Delaware corporation, 

as “Borrower”, 

and 
 VENTURE
LENDING & LEASING VII, INC., 
 a Maryland corporation, 

and 
 VENTURE
LENDING & LEASING VIII, INC., 
 a Maryland corporation, 

each, as “Lender” 

 LOAN AND SECURITY AGREEMENT 

Borrower and each of Venture Lending & Leasing VII, Inc. (“VLL7”) and Venture
Lending & Leasing VIII, Inc. (“VLL8”) have entered or anticipate entering into one or more transactions pursuant to which each Lender severally and not jointly agrees to make available to Borrower a
loan facility governed by the terms and conditions set forth in this document and one or more Supplements executed by Borrower and Lender which incorporate this document by reference. Each Supplement constitutes a supplement to and forms part of
this document, and will be read and construed as one with this document, so that this document and the Supplement constitute a single agreement between the parties (collectively referred to as this “Agreement”).

 Accordingly, the parties agree as follows: 

 

 ARTICLE 1 - INTERPRETATION 

1.1 Definitions. The terms defined in Article 10 and in the Supplement will have the meanings therein specified for purposes of this
Agreement. 
 1.2 Inconsistency. In the event of any inconsistency between the provisions of any Supplement and this document, the
provisions of the Supplement will be controlling for the purpose of all relevant transactions. 
 1.3 Several Obligations of Lender.
The parties are entering into this single Agreement for convenience, and this Agreement is and shall be interpreted for all purposes as separate and distinct agreements between Borrower and VLL7, on the one hand, and Borrower and VLL8, on the other
hand, and nothing in this Agreement shall be deemed a joint venture, partnership or other association between VLL7 and VLL8. Each reference in this Agreement to “Lender” shall mean and refer to each of VLL7 and VLL8, singly and independent
of one another. Without limiting the generality of the foregoing, the Commitment, covenants and other obligations of “Lender” under this Agreement are several and not joint obligations of VLL7 and VLL8, and all rights and remedies of
“Lender” under this Agreement may be exercised by VLL7 and/or VLL8 independently of one another. 
 ARTICLE 2
- THE COMMITMENT AND LOANS 
 2.1 The Commitment. Subject to the terms and conditions of
this Agreement, Lender agrees to make term loans to Borrower from time to time from the Closing Date and to and including the Termination Date in an aggregate principal amount not exceeding the Commitment. The Commitment is not a revolving credit
commitment, and Borrower does not have the right to repay and reborrow hereunder. Each Loan requested by Borrower to be made on a single Business

 
Day shall be for a minimum principal amount set forth in the Supplement, except to the extent the remaining Commitment is a lesser amount. 

2.2 Notes Evidencing Loans; Repayment. Each Loan shall be evidenced by a separate Note payable to the order of Lender, in the total
principal amount of the Loan. Principal and interest of each Loan shall be payable at the times and in the manner set forth in the Note and regularly scheduled payments thereof shall be effected by automatic debit of the appropriate funds from
Borrower’s Primary Operating Account as specified in the Supplement hereto. Repayment of the Loans and payment of all other amounts owed to Lender will be paid by Borrower in the currency in which the same has been provided (i.e., United States
Dollars). 
 2.3 Procedures for Borrowing. 

(a) At least five (5) Business Days’ prior to a proposed Borrowing Date (or such lesser period of time as may be agreed upon
by Lender in its sole discretion), Lender shall have received from Borrower a written request for a borrowing hereunder (a “Borrowing Request”). Each Borrowing Request shall be in substantially the form of
Exhibit “B” to the Supplement, shall be executed by a responsible executive or financial officer of Borrower, and shall state how much is requested, and shall be accompanied by such other information and documentation as Lender may
reasonably request, including the original executed Note(s) for the Loan(s) covered by the Borrowing Request. 
 (b) No later than
1:00 p.m. Pacific Standard Time on the Borrowing Date, if Borrower has satisfied the conditions precedent in Article 4 by 9:00 a.m. Pacific Standard Time on such Borrowing Date, Lender shall make the Loan available to Borrower in immediately
available funds. 

 

  
 1 

 2.4 Interest. Except as otherwise specified in the applicable Note and/or Supplement,
Basic Interest on the outstanding principal balance of each Loan shall accrue daily at the Designated Rate from the Borrowing Date. If the outstanding principal balance of such Loan is not paid at maturity, interest shall accrue at the Default Rate
until paid in full, as further set forth herein. 
 2.5 Intentionally Omitted. 

2.6 Interest Rate Calculation. Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be
calculated for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event
shall Borrower be obligated to pay Lender interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect. 

2.7 Default Interest. Any unpaid payments in respect of the Obligations shall bear interest from their respective maturities, whether
scheduled or accelerated, at the Default Rate, compounded monthly (instead of the Designated Rate). Borrower shall pay such interest on demand. 

2.8 Late Charges. If Borrower is late in making any payment in respect of the Obligations by more than five (5) days, then Borrower
agrees to pay a late charge of five percent (5%) of the payment due, but not less than fifty dollars ($50.00) for any one such delinquent payment. This late charge may be charged by Lender for the purpose of defraying the expenses incidental to the
handling of such delinquent amounts. Borrower acknowledges that such late charge represents a reasonable sum considering all of the circumstances existing on the date of this Agreement and represents a fair and reasonable estimate of the costs that
will be sustained by Lender due to the failure of Borrower to make timely payments. Borrower further agrees that proof of actual damages would be costly and inconvenient. Such late charge shall be paid without prejudice to the right of Lender to
collect any other amounts provided to be paid or to declare a default under this Agreement or any of the other Loan Documents or from exercising any other rights and remedies of Lender. 

2.9 Lender’s Records. Principal, Basic Interest and all other sums owed under any Loan Document shall be evidenced by entries in
records maintained by Lender for such purpose. Each payment on and any other credits with respect to principal, Basic Interest

 
and all other sums outstanding under any Loan Document shall be evidenced by entries in such records. Absent manifest error, Lender’s records shall be conclusive evidence thereof. 

2.10 Grant of Security Interests; Filing of Financing Statements. 

(a) To secure the timely payment and performance of all of Borrower’s Obligations, Borrower hereby grants to Lender continuing
security interests in all of the Collateral. In connection with the foregoing, Borrower authorizes Lender to prepare and file any financing statements describing the Collateral without otherwise obtaining Borrower’s signature or consent with
respect to the filing of such financing statements. 
 (b) In furtherance of Borrower’s grant of the security interests in the
Collateral pursuant to Section 2.10(a) above, Borrower hereby pledges and grants to Lender a security interest in all the Shares, together with all proceeds and substitutions thereof, all cash, stock and other moneys and property paid thereon, all
rights to subscribe for securities declared or granted in connection therewith, and all other cash and noncash proceeds of the foregoing, as security for the performance of the Obligations. On the Closing Date or at any time thereafter following
Lender’s request, the certificate or certificates for the Shares will be delivered to Lender, accompanied by an instrument of assignment duly executed in blank by Borrower, unless such Shares have not been certificated. To the extent required
by the terms and conditions governing the Shares, Borrower shall cause the books of each entity whose Shares are part of the Collateral and any transfer agent to reflect the pledge of the Shares. Upon the occurrence and during the continuance of an
Event of Default hereunder, Lender may effect the transfer of any securities included in the Collateral (including but not limited to the Shares) into the name of Lender and cause new certificates representing such securities to be issued in the
name of Lender or its transferee(s). Borrower will execute and deliver such documents, and take or cause to be taken such actions, as Lender may reasonably request to perfect or continue the perfection of Lender’s security interest in the
Shares. Unless an Event of Default shall have occurred and be continuing, Borrower shall be entitled to exercise any voting rights with respect to the Shares and to give consents, waivers and ratifications in respect thereof, provided that no vote
shall be cast or consent, waiver or ratification given or action taken which would be inconsistent with any of the terms of this Agreement or which would

 

  
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constitute or create any violation of any of such terms. All such rights to vote and give consents, waivers and ratifications shall terminate upon the occurrence and continuance of an Event of
Default. 
 (c) Borrower is and shall remain absolutely and unconditionally liable for the performance of its Obligations, including,
without limitation, any deficiency by reason of the failure of the Collateral to satisfy all amounts due Lender under any of the Loan Documents. 

(d) All Collateral pledged by Borrower under this Agreement and any Supplement shall secure the timely payment and performance of all
Obligations. Except as expressly provided in this Agreement, no Collateral pledged under this Agreement or any Supplement shall be released until such time as all Obligations have been satisfied and paid in full. 

ARTICLE 3 - REPRESENTATIONS AND WARRANTIES 

Borrower represents and warrants that, except as set forth in the Supplement or the Schedule of Exceptions hereto, if any, as of the Closing
Date and each Borrowing Date: 
 3.1 Due Organization. Borrower is a corporation duly organized and validly existing in good standing
under the laws of the jurisdiction of its incorporation, and is duly qualified to conduct business and is in good standing in each other jurisdiction in which its business is conducted or its properties are located, except where the failure to be so
qualified would not reasonably be expected to have a Material Adverse Effect. 
 3.2 Authorization, Validity and Enforceability. The
execution, delivery and performance of all Loan Documents executed by Borrower are within Borrower’s powers, have been duly authorized, and are not in conflict with Borrower’s Certificate of Incorporation or Bylaws, or the terms of any
charter or other organizational document of Borrower, as amended from time to time; and all such Loan Documents constitute valid and binding obligations of Borrower, enforceable in accordance with their terms (except as may be limited by bankruptcy,
insolvency and similar laws affecting the enforcement of creditors’ rights in general, and subject to general principles of equity).

 3.3 Compliance with Applicable Laws. Borrower has complied with all licensing, permit and
fictitious name requirements necessary to lawfully conduct the business in which it is engaged, and to any sales, leases or the furnishing of services by Borrower, including without limitation those requiring consumer or other disclosures, the
noncompliance with which would have a Material Adverse Effect. 
 3.4 No Conflict. The execution, delivery, and performance by
Borrower of all Loan Documents are not in conflict with any law, rule, regulation, order or directive, or any indenture, agreement, or undertaking to which Borrower is a party or by which Borrower may be bound or affected, unless such conflict would
not reasonably be expected to have a Material Adverse Effect. Without limiting the generality of the foregoing, the issuance of the Warrants and the grant of registration rights in connection therewith do not violate any agreement or instrument by
which Borrower is bound or require the consent of any holders of Borrower’s securities other than consents which have been obtained prior to the Closing Date. 

3.5 No Litigation, Claims or Proceedings. Except as otherwise disclosed in writing by the Borrower prior to the Closing Date, there is
no litigation, tax claim, proceeding or dispute pending, or, to the knowledge of Borrower, threatened against or affecting Borrower, its property or the conduct of its business. 

3.6 Correctness of Financial Statements. Borrower’s financial statements which have been delivered to Lender fairly and accurately
reflect Borrower’s financial condition in accordance with GAAP as of the latest date of such financial statements; and, since that date there has been no Material Adverse Change. 

3.7 Subsidiaries. Except for the Scheduled Subsidiaries, Borrower is not a majority owner of or in a control relationship with any other
business entity. Except for the Direct Subsidiaries, Borrower is not a majority owner of any other business entity. 
 3.8 Environmental
Matters. To its knowledge after reasonable inquiry, Borrower has concluded that Borrower is in compliance with Environmental Laws, except to the extent a failure to be in such compliance would not reasonably be expected to have a Material
Adverse Effect. 
 3.9 No Event of Default. No Default or Event of Default has occurred and is continuing.

 

  
 3 

 3.10 Full Disclosure. None of the representations or warranties made by Borrower in the
Loan Documents as of the date such representations and warranties are made or deemed made, and none of the statements contained in any exhibit, report, statement or certificate furnished by or on behalf of Borrower in connection with the Loan
Documents (including disclosure materials delivered by or on behalf of Borrower to Lender prior to the Closing Date or pursuant to Section 5.2 hereof), contains any untrue statement of a material fact or omits any material fact required to be
stated therein or necessary to make the statements made therein, in light of the circumstances under which they are made, not misleading as of the time when made or delivered (it being recognized by Lender that any projections and forecasts provided
by Borrower in good faith shall not be viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results). 

3.11 Specific Representations Regarding Collateral. 

(a) Title. Except for the security interests created by this Agreement and Permitted Liens, (i) Borrower is and will be the
unconditional legal and beneficial owner of the Collateral (other than Excluded Intellectual Property), and (ii) the Collateral (other than Excluded Intellectual Property) is genuine and subject to no Liens, rights or defenses of others. There
exist no prior assignments or encumbrances of record with the U.S. Patent and Trademark Office or U.S. Copyright Office affecting any Collateral (other than Excluded Intellectual Property) in favor of any third party, other than Permitted Liens.

 (b) Rights to Payment. The names of the obligors, amount owing to Borrower, due dates and all other information with respect to the
Rights to Payment are and will be correctly stated in all material respects in all Records relating to the Rights to Payment. Borrower further represents and warrants, to its knowledge, that each Person appearing to be obligated on a Right to
Payment has authority and capacity to contract and is bound as it appears to be. 
 (c) Location of Collateral. Borrower’s chief
executive office, Inventory, Records, Equipment, and any other offices or places of business are located at the address(es) shown on the Supplement.

 (d) Business Names. Other than its full corporate name, Borrower has not conducted
business using any trade names or fictitious business names except as shown on the Supplement. 
 3.12 Copyrights, Patents, Trademarks and
Licenses. 
 (a) Borrower owns or is licensed or otherwise has the right to use all of the patents, trademarks, service marks,
trade names, copyrights, contractual franchises, authorizations and other similar rights that are reasonably necessary for the operation of its business, without conflict with the rights of any other Person. 

(b) To Borrower’s actual knowledge, no slogan or other advertising device, product, process, method, substance, part or other
material now employed, or now contemplated to be employed, by Borrower infringes upon any rights held by any other Person. 
 (c) No
claim or litigation regarding any of the foregoing is pending or, to Borrower’s actual knowledge, threatened, and to Borrower’s knowledge no patent, invention, device, application, principle or any statute, law, rule, regulation, standard
or code is pending or proposed which, in either case, could reasonably be expected to have a Material Adverse Effect. 
 3.13 Regulatory
Compliance. Borrower has met the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. No event has occurred resulting from Borrower’s failure to comply with ERISA that is reasonably likely to
result in Borrower’s incurring any liability that could have a Material Adverse Effect. Borrower is not an “investment company” or a company “controlled” by an “investment company” within the meaning of the
Investment Company Act of 1940. Borrower is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulations T and U of the
Board of Governors of the Federal Reserve System). Borrower has complied in all material respects with all the provisions of the Federal Fair Labor Standards Act. 

3.14 Shares. Borrower has full power and authority to create a first priority Lien on the Shares and no disability or
contractual obligation exists that would prohibit Borrower from pledging the Shares pursuant to this Agreement. To Borrower’s knowledge, there are no subscriptions, warrants,

 

  
 4 

 
rights of first refusal or other restrictions on transfer relative to, or options exercisable with respect to the Shares. The Shares have been and will be duly authorized and validly issued, and
are fully paid and non-assessable. To Borrower’s knowledge, the Shares are not the subject of any present or threatened suit, action, arbitration, administrative or other proceeding, and Borrower knows of
no reasonable grounds for the institution of any such proceedings. 
 3.15 Compliance with Anti-Corruption Laws. Borrower has not
taken any action that would cause a violation of any anti-corruption law, including but not limited to, the Foreign Corrupt Practices Act, the United Kingdom Bribery Act, and all other applicable anti-corruption laws. Borrower, its employees, agents
and representatives have not, directly or indirectly, offered, paid, given, promised or authorized the payment of any money, gift or anything of value to any person acting in an official capacity for any government department, agency or
instrumentality, including state-owned or controlled companies or entities, and public international organizations, as well as a political party or official thereof or candidate for political office. None of Borrower’s principals or staff are
officers, employees or representatives of governments, government agencies, or government-owned or controlled enterprises. 
 3.16
Survival. The representations and warranties of Borrower as set forth in this Agreement survive the execution and delivery of this Agreement. 

ARTICLE 4 - CONDITIONS PRECEDENT 

4.1 Conditions to First Loan. The obligation of Lender to make its first Loan hereunder is, in addition to the conditions precedent
specified in Section 4.2 and in any Supplement, subject to the fulfillment of the following conditions and to the receipt by Lender of the documents described below, duly executed and in form and substance satisfactory to Lender and its
counsel: 
 (a) Resolutions. A certified copy of the resolutions of the Board of Directors of Borrower authorizing the execution,
delivery and performance by Borrower of the Loan Documents. 
 (b) Incumbency and Signatures. A certificate of the secretary of
Borrower certifying the names of the officer or officers of Borrower authorized to sign the Loan Documents, together with a sample of the true signature of each such officer.

 (c) Legal Opinion. The opinion of legal counsel for Borrower as to such matters as Lender
may reasonably request, in form and substance satisfactory to Lender. 
 (d) Charter Documents. Copies of the organizational and
charter documents of Borrower (e.g., Articles or Certificate of Incorporation and Bylaws), as amended through the Closing Date, certified by an officer of Borrower as being true, correct and complete. 

(e) This Agreement. Original counterparts of this Agreement and the initial Supplement, with all schedules completed and attached
thereto, and disclosing such information as is acceptable to Lender. 
 (f) Financing Statements. Filing copies (or other evidence of
filing satisfactory to Lender and its counsel) of such UCC financing statements, collateral assignments, account control agreements, and termination statements, with respect to the Collateral as Lender shall request. 

(g) Intellectual Property Security Agreement. An Intellectual Property Security Agreement executed by Borrower in form and substance
satisfactory to Lender. 
 (h) Lien Searches. UCC lien, judgment, bankruptcy and tax lien searches of Borrower from such jurisdictions
or offices as Lender may reasonably request, all as of a date reasonably satisfactory to Lender and its counsel. 
 (i) Good Standing
Certificate. A certificate of status or good standing of Borrower as of a date acceptable to Lender from the jurisdiction of Borrower’s organization and any foreign jurisdictions where Borrower is qualified to do business. 

(j) Warrants. Original Warrants issued by Borrower exercisable for such number, type and class of shares of Borrower’s capital
stock, and for an initial exercise price as is specified therein. 
 (k) Insurance Certificates. Insurance certificates showing Lender
as a loss payee or an additional insured. 
 (l) Intercreditor Agreement. Lender and EWB shall have entered into a written
intercreditor agreement (the “Intercreditor Agreement”) acceptable to Lender with respect to Lender’s and EWB’s respective rights and priorities of their Liens in the Collateral as security for
Borrower’s Indebtedness to EWB under the EWB Working Capital Facility. 

 

  
 5 

 (m) Other Documents. Such other documents and instruments as Lender may reasonably
request to effectuate the intents and purposes of this Agreement. 
 4.2 Conditions to All Loans. The obligation of Lender to make its
initial Loan and each subsequent Loan is subject to the following further conditions precedent that: 
 (a) No Default. No Default or
Event of Default has occurred and is continuing or will result from the making of any such Loan, and the representations and warranties of Borrower contained in Article 3 of this Agreement and Part 3 of the Supplement are true and correct as of the
Borrowing Date of such Loan. 
 (b) No Material Adverse Change. No event has occurred that has had or could reasonably be expected to
have a Material Adverse Change. 
 (c) Borrowing Request. Borrower shall have delivered to Lender a Borrowing Request for such Loan.

 (d) Note. Borrower shall have delivered an original executed Note evidencing such Loan, substantially in the form attached to the
Supplement as an exhibit. 
 (e) Supplemental Lien Filings. Borrower shall have executed and delivered such amendments or supplements
to this Agreement and additional Security Documents, financing statements and third party waivers as Lender may reasonably request in connection with the proposed Loan, in order to create, protect or perfect or to maintain the perfection of
Lender’s Liens on the Collateral. 
 (f) Intentionally Omitted. 

(g) Financial Projections. Borrower shall have delivered to Lender Borrower’s business plan and/or financial projections or
forecasts as most recently approved by Borrower’s Board of Directors. 
 ARTICLE 5 - AFFIRMATIVE COVENANTS

 During the term of this Agreement and until its performance of all Obligations, Borrower will:

 5.1 Notice to Lender. Promptly give written notice to Lender of: 

(a) Any litigation or administrative or regulatory proceeding affecting Borrower where the amount claimed against Borrower is at the
Threshold Amount or more, or where the granting of the relief requested could have a Material Adverse Effect; or of the acquisition by Borrower of any commercial tort claim involving monetary damages in excess of the Threshold Amount, including
brief details of such claim and such other information as Lender may reasonably request to enable Lender to better perfect its Lien in such commercial tort claim as Collateral. 

(b) Any substantial dispute which may exist between Borrower and any governmental or regulatory authority which could be reasonably
expected to have a Material Adverse Effect. 
 (c) The occurrence of any Default or any Event of Default. 

(d) Any change in the location of any of Borrower’s places of business or Collateral at least thirty (30) days in advance of
such change, or of the establishment of any new, or the discontinuance of any existing, place of business. 
 (e) Any dispute or
default by Borrower or any other party under any joint venture, partnering, distribution, cross-licensing, strategic alliance, collaborative research or manufacturing, license or similar agreement which could reasonably be expected to have a
Material Adverse Effect. 
 (f) Any other matter which has resulted or might reasonably result in a Material Adverse Change. 

(g) Any Subsidiary Borrower intends to acquire or create. 

(h) The occurrence of any default or event of default (howsoever defined) under any document evidencing or executed or delivered in
connection with Borrower’s Indebtedness and obligations to EWB. 
 5.2 Financial Statements. Deliver to Lender or cause to be
delivered to Lender, in form and detail reasonably satisfactory to Lender the following financial and other information, which Borrower warrants shall be accurate and complete in all material respects:

 

  
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 (a) Monthly Financial Statements. As soon as available but no later than thirty
(30) days after the end of each month, Borrower’s unaudited balance sheet as of the end of such period, and Borrower’s unaudited income statement and Borrower’s unaudited cash flow statement for such period and for that portion
of Borrower’s financial reporting year ending with such period, prepared in accordance with Borrower’s past practices applied on a consistent basis and attested by a responsible financial officer of Borrower as being complete and correct
and fairly presenting Borrower’s financial condition and the results of Borrower’s operations. 
 (b) Year-End Financial Statements. As soon as available but no later than one hundred eighty (180) days after and as of the end of each financial reporting year, a complete copy of Borrower’s audit report,
which shall include balance sheet, income statement, statement of changes in equity and statement of cash flows for such year, prepared in accordance with GAAP and certified by an independent certified public accountant selected by Borrower (the
“Accountant”). The Accountant’s certification shall not be qualified or limited due to a restricted or limited examination by the Accountant of any material portion of Borrower’s records or otherwise.

 (c) Compliance Certificates. Simultaneously with the delivery of each set of financial statements referred to in paragraphs
(a) and (b) above, a certificate of the chief financial officer of Borrower (or other executive officer) substantially in the form of Exhibit “C” to the Supplement (a “Compliance
Certificate”) stating, among other things, whether any Default or Event of Default exists on the date of such certificate, and if so, setting forth the details thereof and the action which Borrower is taking or proposes to take
with respect thereto. A pro-forma Compliance Certificate also shall be delivered to Lender on the Closing Date. 

(d) Government Required Reports; Press Releases. Promptly after sending, issuing, making available, or filing, copies of all statements
released to any news media for publication, all reports, proxy statements, and financial statements that Borrower sends or makes available to its stockholders, and, not later than five (5) days after actual filing or the date such filing was
first due, all registration statements and reports that Borrower files or is required to file with the Securities and Exchange Commission (other than reports on Form 10-K or
10-Q, but including reports on Form 8-K), or any other governmental or regulatory authority.

 (e) Other Information. Such other statements, lists of property and accounts, budgets (as
updated), sales projections, forecasts, reports, operating plans, financial exhibits, capitalization tables (as updated) and information relating to equity and debt financings consummated after the Closing Date (including post-closing capitalization
table(s)), or other information as Lender may from time to time reasonably request. In addition, Borrower agrees to provide Lender with copies of all information furnished to EWB under the EWB Working Capital Facility to the extent such
information is not duplicative of information furnished to Lender under this Agreement and the other Loan Documents.  
 (f) Board
Reports. In addition to the foregoing, Borrower will promptly provide Lender with copies of all notices, minutes, consents and other materials, financial or otherwise, which Borrower provides to its Board of Directors (collectively,
“Board Reports”); provided, however, such Board Reports may be redacted to the extent that (i) based on the advice of counsel, Borrower’s Board of Directors determines such redaction is
reasonably necessary to preserve the attorney-client privilege, to protect highly confidential proprietary information, or for other similar reasons or (ii) such redacted material relates to Lender (or Borrower’s strategy regarding the
Loans or Lender). 
 5.3 Intentionally Omitted. 

5.4 Existence. Maintain and preserve Borrower’s existence, present form of business, and (except to the extent consistent with
commercially reasonable practice) all rights and privileges necessary or desirable in the normal course of its business; and keep all Borrower’s property in good working order and condition, ordinary wear and tear excepted. 

5.5 Insurance. Obtain and keep in force insurance in such amounts and types as is usual in the type of business conducted by Borrower,
with insurance carriers having a policyholder rating of not less than “A” and financial category rating of Class VII in “Best’s Insurance Guide,” unless otherwise approved by Lender. Such insurance policies must be in
form and substance reasonably satisfactory to Lender, and shall list Lender as an additional insured or loss payee, as applicable, on endorsement(s) in form reasonably acceptable to Lender. Borrower shall furnish to Lender such endorsements, and
upon Lender’s request, copies of any or all such policies. 

 

  
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 5.6 Accounting Records. Maintain adequate books, accounts and records, and prepare all
financial statements in accordance with GAAP, and in compliance with the regulations of any governmental or regulatory authority having jurisdiction over Borrower or Borrower’s business; and permit employees or agents of Lender at such
reasonable times as Lender may request, at Borrower’s expense, to inspect Borrower’s properties, and to examine, review and audit, and make copies and memoranda of Borrower’s books, accounts and records. 

5.7 Compliance with Laws. Comply with all laws (including Environmental Laws), rules, regulations applicable to, and all orders and
directives of any governmental or regulatory authority having jurisdiction over, Borrower or Borrower’s business, and with all material agreements to which Borrower is a party, except where the failure to so comply would not have a Material
Adverse Effect. 
 5.8 Taxes and Other Liabilities. Pay all Borrower’s Indebtedness when due; pay all taxes and other
governmental or regulatory assessments before delinquency or before any penalty attaches thereto, except as may be contested in good faith by the appropriate procedures and for which Borrower shall maintain appropriate reserves; and timely file all
required tax returns. 
 5.9 Special Collateral Covenants. 

(a) Maintenance of Collateral; Inspection. Do all things reasonably necessary to maintain, preserve, protect and keep all Collateral in
good working order and salable condition, ordinary wear and tear excepted, deal with the Collateral in all ways as are considered good practice by owners of like property, and use the Collateral lawfully and, to the extent applicable, only as
permitted by Borrower’s insurance policies. Maintain, or cause to be maintained, complete and accurate Records relating to the Collateral. Upon reasonable prior notice at reasonable times during normal business hours, Borrower hereby authorizes
Lender’s officers, employees, representatives and agents to inspect the Collateral and to discuss the Collateral and the Records relating thereto with Borrower’s officers and employees, and, in the case of any Right to Payment, with any
Person which is or may be obligated thereon. 
 (b) Documents of Title. Not sign or authorize the signing of any financing statement
or other document naming Borrower as debtor or obligor, or acquiesce or cooperate in the issuance of any bill of lading, warehouse receipt or other document or

 
instrument of title with respect to any Collateral, except those negotiated to Lender, or those naming Lender as secured party, or if solely to create, perfect or maintain a Permitted Lien. 

(c) Change in Location or Name. Without at least 30 days’ prior written notice to Lender: (a) not relocate any Collateral or
Records, its chief executive office, or establish a place of business at a location other than as specified in the Supplement; and (b) not change its name, mailing address, location of Collateral, jurisdiction of incorporation or its legal
structure; provided, however, that Collateral may be relocated in connection with permitted Transfers. 
 (d) Decals, Markings.
At the request of Lender, firmly affix a decal, stencil or other marking to designated items of Equipment, indicating thereon the security interest of Lender. 

(e) Agreement with Persons in Possession of Collateral. Obtain and maintain such acknowledgments, consents, waivers and agreements (each
a “Waiver”) from the owner, operator, lienholder, mortgagee, landlord or any Person in possession of tangible Collateral in excess of $10,000 per location as Lender may require, all in form and substance
satisfactory to Lender. Lender hereby waives the requirements of this Section 5.9(e) and agrees that Borrower shall not be required to deliver a Waiver for the tangible Collateral located in Fremont, CA based on Borrower’s representation that
the net book value of such Collateral is approximately no greater than $50,000. 
 (f) Certain Agreements on Rights to Payment. Other
than in the ordinary course of business, not make any material discount, credit, rebate or other reduction in the original amount owing on a Right to Payment or accept in satisfaction of a Right to Payment less than the original amount thereof. 

5.10 Authorization for Automated Clearinghouse Funds Transfer. (i) Authorize Lender to initiate debit entries to
Borrower’s Primary Operating Account, specified in the Supplement hereto, through Automated Clearinghouse (“ACH”) transfers, in order to satisfy the regularly scheduled payments of principal and interest;
(ii) provide Lender at least thirty (30) days’ notice of any change in Borrower’s Primary Operating Account; and (iii) grant Lender any additional authorizations necessary to begin ACH debits from a new account which becomes
the Primary Operating Account. 

 

  
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 5.11 Anti-Corruption Laws. Provide true, accurate and complete information in all product
orders, reimbursement requests and other communications relating to Borrower and its products. 
 ARTICLE 6 -
NEGATIVE COVENANTS 
 During the term of this Agreement and until the performance of all Obligations, Borrower will not: 

6.1 Indebtedness. Be indebted for borrowed money, the deferred purchase price of property, or leases which would be capitalized in
accordance with GAAP; or become liable as a surety, guarantor, accommodation party or otherwise for or upon the obligation of any other Person, except: 

(a) Indebtedness incurred for the acquisition of supplies or inventory on normal trade credit; 

(b) Indebtedness incurred pursuant to one or more transactions permitted under Section 6.4; 

(c) Indebtedness of Borrower under this Agreement; 

(d) Subordinated Debt; 

(e) Indebtedness of Borrower to EWB incurred under the EWB Working Capital Facility, provided that (i) such Indebtedness shall not
exceed Ten Million Dollars ($10,000,000) in aggregate principal amount outstanding at any time, (ii) there remains in effect an intercreditor agreement in form and substance acceptable to Lender (the “ICA”)
and (iii) the loan documents memorializing the EWB Working Capital Facility shall not be modified without Lender’s prior written consent, which consent shall not be unreasonably withheld or conditioned; 

(f) Indebtedness approved by Lender prior to the Closing Date as shown on Schedule 6.1; 

(g) Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; 

(h) Indebtedness in connection with the issuance of surety bonds, performance bonds, cash-collateralized letters of credit and similar
obligations incurred in the ordinary course of business; 
 (i) Pre-Existing Intercompany
Balances; 
 (j) Ordinary Course Subsidiary Invoices;

 (k) other unsecured Indebtedness not consisting of indebtedness for borrowed money, which
when added to the obligations described Section 6.15, does not exceed $750,000 in aggregate debt service, lease or similar installment payments coming due in the rolling 12-month period succeeding any
date of determination; and 
 (l) Extensions, refinancings and renewals of any items of any of the above, provided that the principal
amount is not increased or the terms modified to impose more burdensome terms upon Borrower. 
 6.2 Liens. Create, incur, assume or
permit to exist any Lien, or grant any other Person a negative pledge, on any of Borrower’s property, except Permitted Liens. Borrower and Lender agree that this covenant is not intended to constitute a lien, deed of trust, equitable mortgage,
or security interest of any kind on any of Borrower’s real property, and this Agreement shall not be recorded or recordable. Notwithstanding the foregoing, however, violation of this covenant by Borrower shall constitute an Event of Default.

 6.3 Dividends. Pay any dividends or purchase, redeem or otherwise acquire or make any other distribution with respect to any of
Borrower’s capital stock, except (a) dividends or other distributions solely of capital stock of Borrower, (b) conversion of its convertible securities into other securities pursuant to the terms of such convertible securities or
otherwise in exchange thereof, (c) de minimis amounts of cash in lieu of fractional shares upon conversion of convertible securities or upon any stock split or consolidation, and (d) so long as no Event of Default has occurred and is
continuing, repurchases of stock from employees, officers, directors or consultants upon termination of employment under reverse vesting or similar repurchase plans not to exceed $100,000 in any calendar year. 

6.4 Fundamental Changes. (a) Liquidate or dissolve; (b) enter into, or permit any of Borrower’s Subsidiaries to enter
into, any Change of Control; or (c) acquire, or permit any of Borrower’s Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person. Notwithstanding anything to the contrary in this
Section 6.4, (i) a Subsidiary may merge or consolidate into another Subsidiary, (ii) Borrower may consolidate or merge with any of Borrower’s Subsidiaries provided that Borrower is the continuing or surviving Person,
(iii) Borrower may enter into, or permit any of Borrower’s Subsidiaries to

 

  
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enter into, any Change of Control, provided that the credit risk to Lender, in its sole discretion, with respect to the Obligations and the Collateral shall not be increased, and
(iv) Borrower may acquire, whether by purchase, merger or otherwise, all or substantially all of the assets of, all of the equity interests of, or a business line or unit or a division of, any Person (an
“Acquisition”), provided that (I) no Event of Default has occurred, is continuing, or would exist after giving effect to such Acquisition, (II) such Acquisition does not result in a Change of Control,
(III) Borrower is the surviving entity following such Acquisition, (IV) the total consideration paid in connection with any Acquisition(s) (including assumption of liabilities or incurrence of any Indebtedness) does not exceed $25,000,000
individually or in the aggregate (for the fiscal year including the Closing Date) or $50,000,000 individually or in the aggregate (in any subsequent fiscal year), (V) any cash consideration payable in connection with such Acquisition shall be funded
solely from the cash proceeds received by Borrower from the sale and issuance of its equity securities substantially concurrent with the closing of such Acquisition, (VI) Borrower has given Lender at least ten Business Days’ notice prior
to the consummation of such Acquisition and provided such other information as Lender may reasonably request with respect to the foregoing, (VII) any Acquisition is Accretive (hereinafter defined), (VIII) Borrower has been operating to the
business plan or otherwise in accordance with information previously provided to Lender in a corresponding Board Report and (IX) following any such Acquisition Borrower shall have a balance of cash of at least $9,000,000 in aggregate amount.
“Accretive” means that following the Acquisition, Borrower and the acquired Person have increased net income and increased cash flow. 

6.5 Sales of Assets. Sell, transfer, lease, license or otherwise dispose of (a “Transfer”) any of
Borrower’s assets except (i) non-exclusive licenses of Intellectual Property in the ordinary course of business consistent with industry practice, provided that such licenses of Intellectual Property
neither result in a legal transfer of title of the licensed Intellectual Property nor have the same effect as a sale of such Intellectual Property; (ii) Transfers of worn-out, obsolete or surplus property
(each as determined by Borrower in its reasonable judgment); (iii) Transfers of Inventory in the ordinary course of business; (iv) Transfers constituting Permitted Liens; (v) Transfers permitted in Section 6.6 hereunder;
(vi) Transfers consisting of Borrower’s use or transfer of money or cash equivalents in a manner that is not prohibited by the terms of this Agreement,
(vii)

 
Transfers of Collateral (other than Intellectual Property) for fair consideration and in the ordinary course of its business and (viii) other Transfers not otherwise permitted by this
Section 6.5 in an amount to exceed Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate in any fiscal year. 
 6.6
Loans/Investments. Make or suffer to exist any loans, guaranties, advances, or investments, except: 
 (a) accounts receivable in
the ordinary course of Borrower’s business; 
 (b) investments in domestic certificates of deposit issued by, and other domestic
investments with, financial institutions organized under the laws of the United States or a state thereof, having at least One Hundred Million Dollars ($100,000,000) in capital and a rating of at least “investment grade” or “A”
by Moody’s or any successor rating agency; 
 (c) investments in marketable obligations of the United States of America and in
open market commercial paper given the highest credit rating by a national credit agency and maturing not more than one year from the creation thereof; 

(d) temporary advances to cover incidental expenses to be incurred in the ordinary course of business; 

(e) investments in joint ventures, strategic alliances, licensing and similar arrangements customary in Borrower’s industry and
which do not require Borrower to assume or otherwise become liable for the obligations of any third party not directly related to or arising out of such arrangement or, without the prior written consent of Lender, require Borrower to transfer
ownership of non-cash assets to such joint venture or other entity; 
 (f) investments in one
or more wholly-owned direct or indirect Subsidiaries of Borrower, consisting of (a) Pre-Existing Intercompany Balances or (b) other investments made in the ordinary course of Borrower’s business
not to exceed $400,000 in aggregate amount in any calendar year; 
 (g) investments consisting of the endorsement of negotiable
instruments for deposit or collection or similar transactions in the ordinary course of Borrower’s business; 

 

  
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 (h) Investments consisting of (i) travel advances and employee relocation loans and
other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or
agreements approved by Borrower’s board of directors; 
 (i) investments (including debt obligations) received in connection with
the bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 

(j) investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are
not Affiliates; and 
 (k) other investments in an amount not to exceed $400,000 during any calendar year. 

6.7 Transactions with Related Persons. Directly or indirectly enter into any transaction with or for the benefit of a Related Person on
terms more favorable to the Related Person than would have been obtainable in an “arms’ length” dealing. 
 6.8 Other
Business. Engage in any material line of business other than the business Borrower conducts as of the Closing Date and business reasonably related thereto. 

6.9 Financing Statements and Other Actions. Fail to execute and deliver to Lender all financing statements, notices and other documents
(including, without limitation, any filings with the United States Patent and Trademark Office and the United States Copyright Office) from time to time reasonably requested by Lender to maintain a perfected first priority security interest in the
Collateral in favor of Lender, subject to Permitted Liens; perform such other acts, and execute and deliver to Lender such additional conveyances, assignments, agreements and instruments, as Lender may at any time request in connection with the
administration and enforcement of this Agreement or Lender’s rights, powers and remedies hereunder. 
 6.10 Compliance. Become an
“investment company” or controlled by an “investment company,” within the meaning of the Investment Company Act of 1940, or become principally engaged in, or undertake as one of its important activities, the business of extending
credit for the purpose of purchasing or carrying margin stock, or use the proceeds of any Loan for such purpose. 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 law or
regulation, which violation could have a Material Adverse Effect or a material adverse effect on the Collateral or the priority of Lender’s Lien on the Collateral, or permit any of its subsidiaries to do any of the foregoing. 

6.11 Other Deposit and Securities Accounts. Maintain any Deposit Accounts or accounts holding securities owned by Borrower except
(i) Deposit Accounts and investment/securities accounts as set forth in the Supplement, and (ii) other Deposit Accounts and securities/investment accounts, in each case, with respect to which Borrower and Lender shall have taken such
action as Lender reasonably deems necessary to obtain a perfected first priority security interest therein, subject to Permitted Liens. The provisions of the previous sentence shall not apply to Deposit Accounts exclusively used for payroll, payroll
taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Lender as such. 

6.12 Prepayment of Indebtedness. Prepay, redeem or otherwise satisfy in any manner prior to the scheduled repayment thereof any
Indebtedness (other than the Loans and ordinary course (unaccelerated) payments and permitted pre-payments of principal of, and interest on, or fees payable in connection with, any revolving loan advances
under the EWB Working Capital Facility). Notwithstanding the foregoing, Lender agrees that the conversion or exchange into Borrower’s equity securities of any Indebtedness (other than the Loans) shall not be prohibited by this
Section 6.12. 
 6.13 Repayment of Subordinated Debt. Repay, prepay, redeem or otherwise satisfy in any manner any Subordinated
Debt, except in accordance with the terms of any subordination agreement among Borrower, Lender and the holder(s) of such Subordinated Debt. Notwithstanding the foregoing, Lender agrees that the conversion or exchange into Borrower’s equity
securities of any Subordinated Debt and the payment of cash in lieu of fractional shares shall not be prohibited by this Section 6.13. 

6.14 Subsidiaries. 

(a) Acquire or create any Subsidiary, unless such Subsidiary becomes, at Lender’s option, either a
co-borrower hereunder or executes and delivers to Lender one or more agreements, in form and substance

 

  
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reasonably satisfactory to Lender, containing a guaranty of the Obligations that is secured by first priority Liens on such Person’s assets. For clarity, the parties acknowledge and agree
that Lender shall have the exclusive right to determine whether any such Person will be made a co-borrower hereunder or a guarantor of the Obligations. Prior to the acquisition or creation of any such
Subsidiary, Borrower shall notify Lender thereof in writing, which notice shall contain the jurisdiction of such Person’s formation and include a description of such Person’s fully diluted capitalization and Borrower’s purpose for its
acquisition or creation of such Subsidiary. 
 (b) Sell, transfer, encumber or otherwise dispose of Borrower’s ownership interest
in any Subsidiary other than Permitted Liens. 
 (c) Cause or permit a Subsidiary to do any of the following: (i) grant Liens on
such Subsidiary’s assets, except for Liens that would constitute Permitted Liens if incurred by Borrower and Liens on any property held or acquired by such Subsidiary in the ordinary course of its business securing Indebtedness incurred or
assumed for the purpose of financing all or any part of the cost of acquiring such property; provided, that such Lien attaches solely to the property acquired with such Indebtedness and that the principal amount of such Indebtedness does not
exceed one hundred percent (100%) of the cost of such property; and (ii) issue any additional Shares. 
 6.15 Leases. Create,
incur, assume, or suffer to exist any obligation as lessee for the rental or hire of any personal property, except that Borrower may enter into and maintain obligations under such leases which when added to Indebtedness permitted under Sections
6.1(j), do not exceed $750,000 in aggregate debt service, lease or similar installment payments coming due in the rolling 12-month period succeeding any date of determination. 

6.16 Anti-Corruption Laws. 

(a) Take any action that would cause a violation of any anti-corruption law, including but not limited to, the Foreign Corrupt Practices
Act, the United Kingdom Bribery Act, and all other applicable anti-corruption laws. 
 (b) Directly or indirectly, offer, pay, give,
promise or authorize the payment of any money, gift, or anything of value to any person acting in an official capacity for any government department, agency, or instrumentality, including state-owned or controlled

 
companies or entities, and public international organizations, as well as a political party or official thereof or candidates for political office. 

ARTICLE 7 - EVENTS OF DEFAULT 

7.1 Events of Default; Acceleration. Upon the occurrence and during the continuation of any Default, the obligation of Lender to make
any additional Loan shall be suspended. The occurrence of any of the following (each, an “Event of Default”) shall terminate any obligation of Lender to make any additional Loan; and shall, at the option of
Lender (1) make all sums of Basic Interest and principal, as well as any other Obligations and amounts owing under any Loan Documents, immediately due and payable without notice of default, presentment or demand for payment, protest or notice
of nonpayment or dishonor or any other notices or demands, and (2) give Lender the right to exercise any other right or remedy provided by contract or applicable law: 

(a) Borrower shall fail to pay any principal or interest under this Agreement or any Note, or fail to pay any fees or other charges when
due under any Loan Document, and such failure continues for three (3) Business Days or more after the same first becomes due; or an Event of Default as defined in any other Loan Document shall have occurred. 

(b) Any representation or warranty made, or financial statement, certificate or other document provided, by Borrower under any Loan
Document shall prove to have been false or misleading in any material respect when made or deemed made herein. 
 (c) (i)
Borrower shall fail to pay its debts generally as they become due; or (ii) Borrower shall commence any Insolvency Proceeding with respect to itself, an involuntary Insolvency Proceeding shall be filed against Borrower, or a custodian, receiver,
trustee, assignee for the benefit of creditors, or other similar official, shall be appointed to take possession, custody or control of the properties of Borrower, and such involuntary Insolvency Proceeding, petition or appointment is acquiesced to
by Borrower or is not dismissed within forty five (45) days; or (iii) the dissolution, winding up, or termination of the business or cessation of operations of Borrower (including any transaction or series of related transactions deemed to
be a liquidation, dissolution or winding up of Borrower pursuant to the provisions of Borrower’s charter documents); or (iv) Borrower shall take any corporate action for the purpose of effecting, approving, or consenting to any of the
foregoing. 

 

  
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 (d) Borrower shall be in default beyond any applicable period of grace or cure under any
other agreement involving the borrowing of money, the purchase of property, the advance of credit or any other monetary liability of any kind to Lender or to any Person in an amount in excess of the Threshold Amount. 

(e) Any governmental or regulatory authority shall take any judicial or administrative action, or any defined benefit pension plan
maintained by Borrower shall have any unfunded liabilities, any of which, in the reasonable judgment of Lender, might have a Material Adverse Effect. 

(f) Except as permitted under Section 6.5, any sale, transfer or other disposition of all or a substantial or material part of the
assets of Borrower, including without limitation to any trust or similar entity, shall occur. 
 (g) Any judgment(s) singly or in the
aggregate in excess of the Threshold Amount shall be entered against Borrower which remain unsatisfied, unvacated or unstayed pending appeal for ten (10) or more days after entry thereof. 

(h) Borrower shall fail to perform or observe any covenant contained in Article 6 of this Agreement. 

(i) Borrower shall fail to perform or observe any covenant contained in Article 5 or elsewhere in this Agreement or any other Loan
Document (other than a covenant which is dealt with specifically elsewhere in this Article 7) and, if capable of being cured, the breach of such covenant is not cured within 30 days after the sooner to occur of Borrower’s receipt of notice of
such breach from Lender or the date on which such breach first becomes known to any officer of Borrower; provided, however that if such breach is not capable of being cured within such 30-day
period and Borrower timely notifies Lender of such fact and Borrower diligently pursues such cure, then the cure period shall be extended to the date requested in Borrower’s notice but in no event more than 90 days from the initial breach;
provided, further, that such additional 60-day opportunity to cure shall not apply in the case of any failure to perform or observe any covenant which has been the subject of a prior failure
within the preceding 180 days or which is a willful and knowing breach by Borrower.

 (j) The occurrence of any default or event of default (however defined) under any
document evidencing or executed or delivered in connection with Borrower’s Indebtedness and obligations to EWB under the EWB Working Capital Facility; provided, however, that if EWB has not previously accelerated Borrower’s
Indebtedness and obligations to EWB then a breach by Borrower of a covenant applicable to the EWB Working Capital Facility shall not be deemed to constitute an Event of Default under this Section 7.1(j). 

(k) Steve Humphreys shall cease for any reason to serve as Borrower’s Chief Executive Officer, whether by reason of death,
disability, resignation, action by Borrower’s Board of Directors or stockholders, or otherwise. 
 7.2 Remedies upon Default.
Upon the occurrence and during the continuance of an Event of Default, Lender shall be entitled to, at its option, exercise any or all of the rights and remedies available to a secured party under the UCC or any other applicable law, and exercise
any or all of its rights and remedies provided for in this Agreement and in any other Loan Document. The obligations of Borrower under this Agreement shall continue to be effective or be reinstated, as the case may be, if at any time any payment of
any Obligations is rescinded or must otherwise be returned by Lender upon, on account of, or in connection with, the insolvency, bankruptcy or reorganization of Borrower or otherwise, all as though such payment had not been made. In addition,
Borrower agrees that Borrower will allow Lender commercially reasonable opportunity to meet and confer with members of Borrower’s Board of Directors if an Event of Default has occurred under Section 7.1(k) hereof. 

7.3 Sale of Collateral. Upon the occurrence and during the continuance of an Event of Default, Lender may sell all or any part of the
Collateral, at public or private sales, to itself, a wholesaler, retailer or investor, for cash, upon credit or for future delivery, and at such price or prices as Lender may deem commercially reasonable. To the extent permitted by law, Borrower
hereby specifically waives all rights of redemption and any rights of stay or appraisal which it has or may have under any applicable law in effect from time to time. Any such public or private sales shall be held at such times and at such place(s)
as Lender may determine. In case of the sale of all or any part of the Collateral on credit or for future delivery, the Collateral so sold may be retained by Lender until the selling price is paid by the purchaser, but Lender shall not incur any
liability in case of the failure of such purchaser to pay for the Collateral and, in case of any such failure, such Collateral may be resold. Lender may, instead of

 

  
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exercising its power of sale, proceed to enforce its security interest in the Collateral by seeking a judgment or decree of a court of competent jurisdiction. Without limiting the generality of
the foregoing, if an Event of Default is in existence, 
 (1) Subject to the rights of any third parties, Lender may license, or sublicense,
whether general, special or otherwise, and whether on an exclusive or non-exclusive basis, any Copyrights, Patents or Trademarks included in the Collateral throughout the world for such term or terms, on such
conditions and in such manner as Lender shall in its sole discretion determine; 
 (2) Lender may (without assuming any obligations or
liability thereunder), at any time and from time to time, enforce (and shall have the exclusive right to enforce) against any licensee or sublicensee all rights and remedies of Borrower in, to and under any Copyright Licenses, Patent Licenses or
Trademark Licenses and take or refrain from taking any action under any thereof, and Borrower hereby releases Lender from, and agrees to hold Lender free and harmless from and against any claims arising out of, any lawful action so taken or omitted
to be taken with respect thereto other than claims arising out of Lender’s gross negligence or willful misconduct; and 
 (3) Upon
request by Lender, Borrower will execute and deliver to Lender a power of attorney, in form and substance reasonably satisfactory to Lender for the implementation of any lease, assignment, license, sublicense, grant of option, sale or other
disposition of a Copyright, Patent or Trademark. In the event of any such disposition pursuant to this clause 3, Borrower shall supply its know-how and expertise relating to the products or services
made or rendered in connection with Patents, the manufacture and sale of the products bearing Trademarks, and its customer lists and other records relating to such Copyrights, Patents or Trademarks and to the distribution of said products, to
Lender. 
 (4) If, at any time when Lender shall determine to exercise its right to sell the whole or any part of the Shares hereunder, such
Shares or the part thereof to be sold shall not, for any reason whatsoever, be effectively registered under the Securities Act (or any similar statute), then Lender may, in its discretion (subject only to applicable requirements of law), sell such
Shares or part thereof by private sale in such manner and under such circumstances as Lender may deem necessary or advisable, but subject to the other requirements of this Article 7, and shall not be

 
required to effect such registration or to cause the same to be effected. Without limiting the generality of the foregoing, in any such event, Lender in its discretion may (i) in accordance
with applicable securities laws proceed to make such private sale notwithstanding that a registration statement for the purpose of registering such Shares or part thereof could be or shall have been filed under the Securities Act (or similar
statute), (ii) approach and negotiate with a single possible purchaser to effect such sale, and (iii) restrict such sale to a purchaser who is an accredited investor under the Securities Act and who will represent and agree that such purchaser
is purchasing for its own account, for investment and not with a view to the distribution or sale of such Shares or any part thereof. In addition to a private sale as provided above in this Article 7, if any of the Shares shall not be freely
distributable to the public without registration under the Securities Act (or similar statute) at the time of any proposed sale pursuant to this Article 7, then Lender shall not be required to effect such registration or cause the same to be
effected but, in its discretion (subject only to applicable requirements of law), may require that any sale hereunder (including a sale at auction) be conducted subject to restrictions: 

(A) as to the financial sophistication and ability of any Person permitted to bid or purchase at any such sale; 

(B) as to the content of legends to be placed upon any certificates representing the Shares sold in such sale, including restrictions on future
transfer thereof; 
 (C) as to the representations required to be made by each Person bidding or purchasing at such sale relating to such
Person’s access to financial information about Borrower or any of its Subsidiaries and such Person’s intentions as to the holding of the Shares so sold for investment for its own account and not with a view to the distribution thereof; and

 (D) as to such other matters as Lender may, in its discretion, deem necessary or appropriate in order that such sale (notwithstanding any
failure so to register) may be effected in compliance with the Bankruptcy Code and other laws affecting the enforcement of creditors’ rights and the Securities Act and all applicable state securities laws.

 

  
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 (5) Borrower recognizes that Lender may be unable to effect a public sale of any or all the
Shares and may be compelled to resort to one or more private sales thereof in accordance with clause (4) above. Borrower also acknowledges that any such private sale may result in prices and other terms less favorable to the seller than
if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall not be deemed to have been made in a commercially unreasonable manner solely by virtue of such sale being private. Lender shall be under
no obligation to delay a sale of any of the Shares for the period of time necessary to permit the applicable Subsidiary to register such securities for public sale under the Securities Act, or under applicable state securities laws, even if Borrower
and/or the Subsidiary would agree to do so. 
 7.4 Borrower’s Obligations upon Default. Upon the request of Lender after the
occurrence and during the continuance of an Event of Default, Borrower will: 
 (a) Assemble and make available to Lender the
Collateral at such place(s) as Lender shall reasonably designate, segregating all Collateral so that each item is capable of identification; and 

(b) Subject to the rights of any lessor, permit Lender, by Lender’s officers, employees, agents and representatives, to enter any
premises where any Collateral is located, to take possession of the Collateral, to complete the processing, manufacture or repair of any Collateral, and to remove the Collateral, or to conduct any public or private sale of the Collateral, all
without any liability of Lender for rent or other compensation for the use of Borrower’s premises. 
 ARTICLE 8
- SPECIAL COLLATERAL PROVISIONS 
 8.1 Compromise and Collection. Borrower and Lender
recognize that setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Rights to Payment; that certain of the Rights to Payment may be or become uncollectible in whole or in part; and that the
expense and probability of success of litigating a disputed Right to Payment may exceed the amount that reasonably may be expected to be recovered with respect to such Right to Payment. Borrower hereby authorizes Lender, after and during the
continuance of an Event of Default, to compromise with the obligor, accept in full payment of any Right to Payment such amount as Lender shall

 
negotiate with the obligor, or abandon any Right to Payment. Any such action by Lender shall be considered commercially reasonable so long as Lender acts in good faith based on information known
to it at the time it takes any such action. 
 8.2 Performance of Borrower’s Obligations. Without having any obligation to do so,
upon reasonable prior notice to Borrower, Lender may perform or pay any obligation which Borrower has agreed to perform or pay under this Agreement, including, without limitation, the payment or discharge of taxes or Liens levied or placed on or
threatened against the Collateral. In so performing or paying, Lender shall determine the action to be taken and the amount necessary to discharge such obligations. Borrower shall reimburse Lender on demand for any amounts paid by Lender pursuant to
this Section, which amounts shall constitute Obligations secured by the Collateral and shall bear interest from the date of demand at the Default Rate. 

8.3 Power of Attorney. For the purpose of protecting and preserving the Collateral and Lender’s rights under this Agreement,
Borrower hereby irrevocably appoints Lender, with full power of substitution, as its attorney-in-fact with full power and authority, after the occurrence and during the
continuance of an Event of Default, to do any act which Borrower is obligated to do hereunder; to exercise such rights with respect to the Collateral as Borrower might exercise; to use such Inventory, Equipment, Fixtures or other property as
Borrower might use; to enter Borrower’s premises; to give notice of Lender’s security interest in, and to collect the Collateral; and before or after Default, to execute and file in Borrower’s name any financing statements, amendments
and continuation statements, account control agreements or other Security Documents necessary or desirable to create, maintain, perfect or continue the perfection of Lender’s security interests in the Collateral. Borrower hereby ratifies all
that Lender shall lawfully do or cause to be done by virtue of this appointment. 
 8.4 Authorization for Lender to Take Certain
Action. The power of attorney created in Section 8.3 is a power coupled with an interest and shall be irrevocable. The powers conferred on Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty
upon Lender to exercise such powers. Lender shall be accountable only for amounts that it actually receives as a result of the exercise of such powers and in no event shall Lender or any of its directors, officers, employees,

 

  
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agents or representatives be responsible to Borrower for any act or failure to act, except for gross negligence or willful misconduct. After the occurrence and during the continuance of an Event
of Default, Lender may exercise this power of attorney without notice to or assent of Borrower, in the name of Borrower, or in Lender’s own name, from time to time in Lender’s sole discretion and at Borrower’s expense. To further
carry out the terms of this Agreement, after the occurrence and during the continuance of an Event of Default, Lender may: 
 (a)
Execute any statements or documents or take possession of, and endorse and collect and receive delivery or payment of, any checks, drafts, notes, acceptances or other instruments and documents constituting Collateral, or constituting the payment of
amounts due and to become due or any performance to be rendered with respect to the Collateral. 
 (b) Sign and endorse any invoices,
freight or express bills, bills of lading, storage or warehouse receipts; drafts, certificates and statements under any commercial or standby letter of credit relating to Collateral; assignments, verifications and notices in connection with
Accounts; or any other documents relating to the Collateral, including without limitation the Records. 
 (c) Use or operate
Collateral or any other property of Borrower for the purpose of preserving or liquidating Collateral. 
 (d) File any claim or take
any other action or proceeding in any court of law or equity or as otherwise deemed appropriate by Lender for the purpose of collecting any and all monies due or securing any performance to be rendered with respect to the Collateral. 

(e) Commence, prosecute or defend any suits, actions or proceedings or as otherwise deemed appropriate by Lender for the purpose of
protecting or collecting the Collateral. In furtherance of this right, upon the occurrence and during the continuance of an Event of Default, Lender may apply for the appointment of a receiver or similar official to operate Borrower’s business.

 (f) Prepare, adjust, execute, deliver and receive payment under insurance claims, and collect and receive payment of and endorse
any instrument in payment of loss or returned premiums or any other insurance refund or return, and apply such amounts at Lender’s sole discretion, toward repayment of the Obligations or replacement of the Collateral.

 8.5 Application of Proceeds. Any Proceeds and other monies or property received by Lender
pursuant to the terms of this Agreement or any Loan Document may be applied by Lender first to the payment of expenses of collection, including without limitation reasonable attorneys’ fees, and then to the payment of the Obligations in such
order of application as Lender may elect. 
 8.6 Deficiency. If the Proceeds of any disposition of the Collateral are insufficient to
cover all costs and expenses of such sale and the payment in full of all the Obligations, plus all other sums required to be expended or distributed by Lender, then Borrower shall be liable for any such deficiency. 

8.7 Lender Transfer. Upon the transfer of all or any part of the Obligations, Lender may transfer all or part of the Collateral and
shall be fully discharged thereafter from all liability and responsibility with respect to such Collateral so transferred, and the transferee shall be vested with all the rights and powers of Lender hereunder with respect to such Collateral so
transferred, but with respect to any Collateral not so transferred, Lender shall retain all rights and powers hereby given. 
 8.8
Lender’s Duties. 
 (a) Lender shall use reasonable care in the custody and preservation of any Collateral in its possession.
Without limitation on other conduct which may be considered the exercise of reasonable care, Lender shall be deemed to have exercised reasonable care in the custody and preservation of such Collateral if such Collateral is accorded treatment
substantially equal to that which Lender accords its own property, it being understood that Lender shall not have any responsibility for ascertaining or taking action with respect to calls, conversions, exchanges, maturities, declining value,
tenders or other matters relative to any Collateral, regardless of whether Lender has or is deemed to have knowledge of such matters; or taking any necessary steps to preserve any rights against any Person with respect to any Collateral. Under no
circumstances shall Lender be responsible for any injury or loss to the Collateral, or any part thereof, arising from any cause beyond the reasonable control of Lender.

 

  
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 (b) Lender may at any time deliver the Collateral or any part thereof to Borrower and the
receipt of Borrower shall be a complete and full acquittance for the Collateral so delivered, and Lender shall thereafter be discharged from any liability or responsibility therefor. 

(c) Neither Lender, nor any of its directors, officers, employees, agents, attorneys or any other person affiliated with or representing
Lender shall be liable for any claims, demands, losses or damages, of any kind whatsoever, made, claimed, incurred or suffered by Borrower or any other party through the ordinary negligence of Lender, or any of its directors, officers, employees,
agents, attorneys or any other person affiliated with or representing Lender. 
 8.9 Termination of Security Interests. Upon the
payment in full of the Obligations and satisfaction of all Borrower’s obligations under this Agreement and the other Loan Documents, and if Lender has no further obligations under its Commitment, the security interest granted hereby shall
terminate and all rights to the Collateral shall revert to Borrower. Upon any such termination, Lender shall, at Borrower’s expense, execute and deliver to Borrower such documents as Borrower shall reasonably request to evidence such
termination. 
 ARTICLE 9 - GENERAL PROVISIONS 

9.1 Notices. Any notice given by any party under any Loan Document shall be in writing and personally delivered, sent by overnight
courier, or United States mail, postage prepaid, or sent by facsimile, or other authenticated message, charges prepaid, to the other party’s or parties’ addresses shown on the Supplement. Each party may change the address or facsimile
number to which notices, requests and other communications are to be sent by giving written notice of such change to each other party. Notice given by hand delivery shall be deemed received on the date delivered; if sent by overnight courier, on the
next Business Day after delivery to the courier service; if by first class mail, on the third Business Day after deposit in the U.S. Mail; and if by facsimile, on the date of transmission. 

9.2 Binding Effect. The Loan Documents shall be binding upon and inure to the benefit of Borrower and Lender and their respective
successors and assigns; provided, however, that Borrower may not assign or transfer Borrower’s rights or obligations under any Loan Document. Lender reserves the right to sell, assign, transfer, negotiate or grant participations in all or any
part of, or any interest in, Lender’s rights and obligations under the Loan Documents. In connection

 
with any of the foregoing, Lender may disclose all documents and information which Lender now or hereafter may have relating to the Loans, Borrower, or its business, provided that any Person who
receives such information shall have agreed in writing in advance to maintain the confidentiality of such information on terms no less favorable to Borrower than are set forth in Section 9.13 hereof. 

9.3 No Waiver. Any waiver, consent or approval by Lender of any Event of Default or breach of any provision, condition, or covenant of
any Loan Document must be in writing and shall be effective only to the extent set forth in writing. No waiver of any breach or default shall be deemed a waiver of any later breach or default of the same or any other provision of any Loan Document.
No failure or delay on the part of Lender in exercising any power, right, or privilege under any Loan Document shall operate as a waiver thereof, and no single or partial exercise of any such power, right, or privilege shall preclude any further
exercise thereof or the exercise of any other power, right or privilege. Lender has the right at its sole option to continue to accept interest and/or principal payments due under the Loan Documents after default, and such acceptance shall not
constitute a waiver of said default or an extension of the maturity of any Loan unless Lender agrees otherwise in writing. 
 9.4 Rights
Cumulative. All rights and remedies existing under the Loan Documents are cumulative to, and not exclusive of, any other rights or remedies available under contract or applicable law. 

9.5 Unenforceable Provisions. Any provision of any Loan Document executed by Borrower which is prohibited or unenforceable in any
jurisdiction, shall be so only as to such jurisdiction and only to the extent of such prohibition or unenforceability, but all the remaining provisions of any such Loan Document shall remain valid and enforceable. 

9.6 Accounting Terms. Except as otherwise provided in this Agreement, accounting terms and financial covenants and information shall be
determined and prepared in accordance with GAAP. 
 9.7 Indemnification; Exculpation. Borrower shall pay and protect, defend and
indemnify Lender and Lender’s employees, officers, directors, shareholders, affiliates, correspondents, agents and representatives (other than Lender, collectively “Agents”) against, and hold Lender and
each such Agent harmless from, all claims, actions, proceedings, liabilities, damages, losses, expenses (including, without limitation,

 

  
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attorneys’ fees and costs) and other amounts incurred by Lender and each such Agent, arising from (i) the matters contemplated by this Agreement or any other Loan Documents,
(ii) any dispute between Borrower and a third party, or (iii) any contention that Borrower has failed to comply with any law, rule, regulation, order or directive applicable to Borrower’s business; provided, however, that this
indemnification shall not apply to any of the foregoing incurred solely as the result of Lender’s or any Agent’s gross negligence or willful misconduct. This indemnification shall survive the payment and satisfaction of all of
Borrower’s Obligations to Lender. 
 9.8 Reimbursement. Borrower shall reimburse Lender for all costs and expenses, including
without limitation reasonable attorneys’ fees and disbursements expended or incurred by Lender in any arbitration, mediation, judicial reference, legal action or otherwise in connection with (a) the preparation and negotiation of the Loan
Documents, (b) the amendment and enforcement of the Loan Documents, including without limitation during any workout, attempted workout, and/or in connection with the rendering of legal advice as to Lender’s rights, remedies and obligations
under the Loan Documents, (c) collecting any sum which becomes due Lender under any Loan Document, (d) any proceeding for declaratory relief, any counterclaim to any proceeding, or any appeal, or (e) the protection, preservation or
enforcement of any rights of Lender. For the purposes of this section, attorneys’ fees shall include, without limitation, fees incurred in connection with the following: (1) contempt proceedings; (2) discovery; (3) any motion,
proceeding or other activity of any kind in connection with an Insolvency Proceeding; (4) garnishment, levy, and debtor and third party examinations; and (5) postjudgment motions and proceedings of any kind, including without limitation
any activity taken to collect or enforce any judgment. All of the foregoing costs and expenses shall be payable upon demand by Lender, and if not paid within forty-five (45) days of presentation of invoices shall bear interest at the Default
Rate. 
 9.9 Execution in Counterparts. This Agreement and the other Loan Documents may be executed in any number of counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. Any party may execute this Agreement and the other Loan Documents by facsimile signature or scanned signature in PDF (or like) format,
and any such facsimile signature or scanned signature shall be deemed an original signature and each of the parties is hereby authorized to rely thereon.

 9.10 Entire Agreement. The Loan Documents are intended by the parties as the final
expression of their agreement and therefore contain the entire agreement between the parties and supersede all prior understandings or agreements concerning the subject matter hereof. This Agreement may be amended only in a writing signed by
Borrower and Lender. 
 9.11 Governing Law and Jurisdiction. 

(a) THIS AGREEMENT AND THE LOAN DOCUMENTS SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF
CALIFORNIA. 
 (b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE
COURTS OF THE STATE OF CALIFORNIA OR OF THE UNITED STATES FOR THE NORTHERN DISTRICT OF CALIFORNIA, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF BORROWER AND LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH OF BORROWER AND LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY
NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AGREEMENT OR ANY DOCUMENT RELATED HERETO. BORROWER AND LENDER EACH WAIVE PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH MAY
BE MADE BY ANY OTHER MEANS PERMITTED BY CALIFORNIA LAW. 
 9.12 Waiver of Jury Trial. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW,
BORROWER AND LENDER EACH WAIVES ITS RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT, THE OTHER LOAN DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, IN ANY
ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY 

 

  
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OF THE PARTIES AGAINST ANY OTHER PARTY OR ANY PARTICIPANT OR ASSIGNEE, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. BORROWER AND LENDER EACH AGREES THAT ANY SUCH CLAIM OR
CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER
PROCEEDING WHICH SEEMS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS OR ANY PROVISION HEREOF OR THEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR
MODIFICATIONS TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS. 
 9.13 Confidentiality. Lender agrees to hold in confidence all
confidential information that it receives from Borrower pursuant to the Loan Documents, except for disclosure as shall be reasonably required: (a) to legal counsel and accountants for Lender; (b) to other professional advisors to Lender;
(c) to regulatory officials having jurisdiction over Lender to the extent required by law; (d) to Lender’s investors and prospective investors, and in Lender’s SEC filings; (e) as required by law or legal process or in
connection with any legal proceeding to which Lender and Borrower are adverse parties; (f) in connection with a disposition or proposed disposition of any or all of Lender’s rights hereunder; (g) to Lender’s subsidiaries or
Affiliates in connection with their business with Borrower (subject to the same confidentiality obligation set forth herein); (h) as required by valid order of a court of competent jurisdiction, administrative agency or governmental body, or by any
applicable law, rule, regulation, subpoena, or any other administrative or legal process, or by applicable regulatory or professional standards, including in connection with any judicial or other proceeding involving Lender relating to this
Agreement and the transactions contemplated hereby; and (i) as required in connection with Lender’s examination or audit. For purposes of this section, Lender and Borrower agree that “confidential information” shall mean any
information regarding or relating to Borrower other than: (i) information which is or becomes generally available to the public other than as result of a disclosure by Lender in violation of this section, (ii)

 
information which becomes available to Lender from any other source (other than Borrower) which Lender does not know is bound by a confidentiality agreement with respect to the information made
available, and (iii) information that Lender knows on a non-confidential basis prior to Borrower disclosing it to Lender. In addition, Borrower agrees that Lender may use Borrower’s name, logo and/or
trademark in connection with certain promotional materials that Lender may disseminate to the public, including, but are not limited to, brochures, internet website, press releases and any other materials relating to the fact that Lender has a
financing relationship with Borrower. 
 ARTICLE 10 - DEFINITIONS 

The definitions appearing in this Agreement or any Supplement shall be applicable to both the singular and plural forms of the defined terms:

 “Account” means any “account,” as such term is defined in the UCC, now owned or hereafter acquired by
Borrower or in which Borrower now holds or hereafter acquires any interest and, in any event, shall include, without limitation, all accounts receivable, book debts and other forms of obligations (other than forms of obligations evidenced by Chattel
Paper, Documents or Instruments) now owned or hereafter received or acquired by or belonging or owing to Borrower (including, without limitation, under any trade name, style or division thereof) whether arising out of goods sold or services rendered
by Borrower or from any other transaction, whether or not the same involves the sale of goods or services by Borrower (including, without limitation, any such obligation that may be characterized as an account or contract right under the UCC) and
all of Borrower’s rights in, to and under all purchase orders or receipts now owned or hereafter acquired by it for goods or services, and all of Borrower’s rights to any goods represented by any of the foregoing (including, without
limitation, unpaid seller’s rights of rescission, replevin, reclamation and stoppage in transit and rights to returned, reclaimed or repossessed goods), and all monies due or to become due to Borrower under all purchase orders and contracts for
the sale of goods or the performance of services or both by Borrower or in connection with any other transaction (whether or not yet earned by performance on the part of Borrower), now in existence or hereafter occurring, including, without
limitation, the right to receive the proceeds of said purchase orders and contracts, and all collateral security and guarantees of any kind given by any Person with respect to any of the foregoing.

 

  
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 “Affiliate” means any Person which directly or indirectly controls, is
controlled by, or is under common control with Borrower. “Control,” “controlled by” and “under common control with” mean direct or indirect possession of the power to direct or cause the direction of management or
policies (whether through ownership of voting securities, by contract or otherwise); provided, that control shall be conclusively presumed when any Person or affiliated group directly or indirectly owns five percent (5%) or more of the securities
having ordinary voting power for the election of directors of a corporation. 
 “Agreement” means this Loan and
Security Agreement and each Supplement thereto, as each may be amended or supplemented from time to time. 
 “Bankruptcy
Code” means the Federal Bankruptcy Reform Act of 1978 (11 U.S.C. §101, et seq.), as amended. 

“Basic Interest” means the fixed rate of interest payable on the outstanding balance of each Loan at the applicable
Designated Rate. 
 “Borrowing Date” means the Business Day on which the proceeds of a Loan are disbursed by Lender.

 “Borrowing Request” means a written request from Borrower in substantially the form of Exhibit “B”
to the Supplement, requesting the funding of one or more Loans on a particular Borrowing Date. 
 “Business Day” means
any day other than a Saturday, Sunday or other day on which commercial banks in New York City or San Francisco are authorized or required by law to close. 

“Change of Control” has the meaning specified in the Supplement. 

“Chattel Paper” means any “chattel paper,” as such term is defined in the UCC, now owned or hereafter acquired by
Borrower or in which Borrower now holds or hereafter acquires any interest. 
 “Closing Date” means the date of this
Agreement. 
 “Collateral” means all of Borrower’s right, title and interest in and to the following property,
whether now owned or hereafter acquired and wherever located: (a) all Receivables; (b) all Equipment; (c) all Fixtures; (d) all General Intangibles; (e) all Inventory;

 
(f) all Investment Property; (g) all Deposit Accounts; (h) all Shares; (i) all other Goods and personal property of Borrower, whether tangible or intangible and whether now or
hereafter owned or existing, leased, consigned by or to, or acquired by, Borrower and wherever located; (j) all Records; and (k) all Proceeds of each of the foregoing and all accessions to, substitutions and replacements for, and rents,
profits and products of each of the foregoing. 
 Notwithstanding the foregoing the term “Collateral” shall not include: (i) more than
sixty-five percent (65%) of the issued and outstanding capital stock, membership units or other securities entitled to vote owned or held of record by Borrower in any Subsidiary that is a controlled foreign corporation (as defined in the Internal
Revenue Code), provided that the Collateral shall include one hundred percent (100%) of the issued and outstanding non-voting capital stock of such Subsidiary; (ii) “intent-to-use” trademarks at all times prior to the first use thereof, whether by the actual use thereof in commerce, the recording of a statement of use with the United States Patent and Trademark
Office or otherwise, but only to the extent the granting of a security interest in such “intent to use” trademarks would be contrary to applicable law; and (iii) any contract, Instrument or Chattel Paper in which Borrower has any
right, title or interest if and to the extent such contract, Instrument or Chattel Paper includes a provision containing a restriction on assignment such that the creation of a security interest in the right, title or interest of Borrower therein
would be prohibited and would, in and of itself, cause or result in a default thereunder enabling another person party to such contract, Instrument or Chattel Paper to enforce any remedy with respect thereto; provided, however, that the foregoing
exclusion shall not apply if (A) such prohibition has been waived or such other person has otherwise consented to the creation hereunder of a security interest in such contract, Instrument or Chattel Paper, or (B) such prohibition would be
rendered ineffective pursuant to Sections 9-407(a) or 9-408(a) of the UCC, as applicable and as then in effect in any relevant jurisdiction, or any other applicable law
(including the Bankruptcy Code or principles of equity); provided further that immediately upon the ineffectiveness, lapse or termination of any such provision, the term “Collateral” shall include, and Borrower shall be deemed to have
granted a security interest in, all its rights, title and interests in and to such contract, Instrument or Chattel Paper as if such provision had never been in effect; and provided further that the foregoing exclusion shall in no way be construed so

 

  
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as to limit, impair or otherwise affect Lender’s unconditional continuing security interest in and to all rights, title and interests of Borrower in or to any payment obligations or other
rights to receive monies due or to become due under any such contract, Instrument or Chattel Paper and in any such monies and other proceeds of such contract, Instrument or Chattel Paper. 

“Commitment” means the obligation of Lender to make Loans to Borrower up to the aggregate principal amount set forth in
the Supplement. 
 “Copyright License” means any written agreement granting any right to use any Copyright or
Copyright registration now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 

“Copyrights” means all of the following now owned or hereafter acquired by Borrower or in which Borrower now holds or
hereafter acquires any interest: (i) all copyrights, whether registered or unregistered, held pursuant to the laws of the United States, any State thereof or of any other country; (ii) all registrations, applications and recordings in the
United States Copyright Office or in any similar office or agency of the United States, any State thereof or any other country; (iii) all continuations, renewals or extensions thereof; and (iv) any registrations to be issued under any
pending applications. 
 “Default” means an event which with the giving of notice, passage of time, or both would
constitute an Event of Default. 
 “Default Rate” means eighteen percent (18%) per annum. 

“Deposit Accounts” means any “deposit accounts,” as such term is defined in the UCC, now owned or hereafter
acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 
 “Designated Rate” means the
rate of interest per annum described in the Supplement as being applicable to an outstanding Loan from time to time. 
 “Direct
Subsidiary” means any entity listed on Schedule 3.7 as a direct subsidiary of Borrower. 

“Documents” means any “documents,” as such term is defined in the UCC, now owned or hereafter acquired by
Borrower or in which Borrower now holds or hereafter acquires any interest.

 “Dollars” or “$” means lawful
currency of the United States. 
 “Environmental Laws” means all federal, state or local laws, statutes, common law
duties, rules, regulations, ordinances and codes, together with all administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any governmental authorities, in each case relating to environmental,
health, or safety matters. 
 “Equipment” means any “equipment,” as such term is defined in the UCC, now
owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest and any and all additions, substitutions and replacements of any of the foregoing, wherever located, together with all attachments, components,
parts, equipment and accessories installed thereon or affixed thereto. 
 “Excluded Intellectual Property” has the meaning set forth
in the Intellectual Property Security Agreement. 
 “Event of Default” means any event described in Section 7.1.

 “EWB” means East West Bank. 

“EWB Working Capital Facility” means the working capital loan facility provided to Borrower by EWB in which EWB has
committed to make formula-based advances to Borrower up to $10,000,000 in aggregate principal amount outstanding at any time on a revolving basis, secured by first priority Liens on Borrower’s, cash, Accounts, the proceeds traceable of such
Accounts and Inventory. 
 “Fixtures” means any “fixtures,” as such term is defined in the UCC, now owned or
hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 
 “GAAP” means
generally accepted accounting principles and practices consistent with those principles and practices promulgated or adopted by the Financial Accounting Standards Board and the Board of the American Institute of Certified Public Accountants, their
respective predecessors and successors. Each accounting term used but not otherwise expressly defined herein shall have the meaning given it by GAAP.

 

  
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 “General Intangibles” means any “general intangibles,” as such
term is defined in the UCC, now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest and, in any event, shall include, without limitation, all right, title and interest that Borrower may now or
hereafter have in or under any contract, all customer lists, Copyrights, Trademarks, Patents, websites, domain names, and all applications therefor and reissues, extensions, or renewals thereof, other items of, and rights to, Intellectual Property,
interests in partnerships, joint ventures and other business associations, Licenses, permits, trade secrets, proprietary or confidential information, inventions (whether or not patented or patentable), technical information, procedures, designs,
knowledge, know-how, software, data bases, data, skill, expertise, recipes, experience, processes, models, drawings, materials and records, goodwill (including, without limitation, the goodwill associated with
any Trademark, Trademark registration or Trademark licensed under any Trademark License), claims in or under insurance policies, including unearned premiums, uncertificated securities, money, cash or cash equivalents, deposit, checking and other
bank accounts, rights to sue for past, present and future infringement of Copyrights, Trademarks and Patents, rights to receive tax refunds and other payments and rights of indemnification. 

“Goods” means any “goods,” as such term is defined in the UCC, now owned or hereafter acquired by Borrower or
in which Borrower now holds or hereafter acquires any interest. 
 “Indebtedness” of any Person means at any date,
without duplication and without regard to whether matured or unmatured, absolute or contingent: (i) all obligations of such Person for borrowed money; (ii) all obligations of such Person evidenced by bonds, debentures, notes, or other
similar instruments; (iii) all obligations of such Person to pay the deferred purchase price of property or services, except trade accounts payable arising in the ordinary course of business; (iv) all obligations of such Person as lessee
under capital leases; (v) all obligations of such Person to reimburse or prepay any bank or other Person in respect of amounts paid under a letter of credit, banker’s acceptance, or similar instrument, whether drawn or undrawn;
(vi) all obligations of such Person to purchase securities which arise out of or in connection with the sale of the same or substantially similar securities; (vii) all obligations of such Person to purchase, redeem, exchange, convert or
otherwise acquire for value any capital stock of such Person or any warrants, rights or options to acquire such capital

 
stock, now or hereafter outstanding, except to the extent that such obligations remain performable solely at the option of such Person; (viii) all obligations to repurchase assets previously
sold (including any obligation to repurchase any accounts or chattel paper under any factoring, receivables purchase, or similar arrangement); (ix) obligations of such Person under interest rate swap, cap, collar or similar hedging arrangements; and
(x) all obligations of others of any type described in clause (i) through clause (ix) above guaranteed by such Person. 

“Insolvency Proceeding” means with respect to a Person (a) any case, action or proceeding before any court or other
governmental authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors with respect to such Person, or (b) any general
assignment for the benefit of creditors, composition, marshalling of assets for creditors, or other, similar arrangement in respect of such Person’s creditors generally or any substantial portion of its creditors, undertaken under U.S. Federal,
state or foreign law, including the Bankruptcy Code, but in each case, excluding any avoidance or similar action against such Person commenced by an assignee for the benefit of creditors, bankruptcy trustee, debtor in possession, or other
representative of another Person or such other Person’s estate. 
 “Instruments” means any
“instrument,” as such term is defined in the UCC, now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 

“Intellectual Property” means all of Borrower’s Copyrights, Trademarks, Patents, Licenses, trade secrets, source
codes, customer lists, proprietary or confidential information, inventions (whether or not patented or patentable), technical information, procedures, designs, knowledge, know-how, software, data bases, skill,
expertise, experience, processes, models, drawings, materials, records and goodwill associated with the foregoing. 
 “Intellectual
Property Security Agreement” means any Intellectual Property Security Agreement executed and delivered by Borrower in favor of Lender, as the same may be amended, supplemented, or restated from time to time. 

“Inventory” means any “inventory,” as such term is defined in the UCC, wherever located, now owned or
hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest, and, in 

 

  
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 any event, shall include, without limitation, all inventory, goods and other personal property that are held by
or on behalf of Borrower for sale or lease or are furnished or are to be furnished under a contract of service or that constitute raw materials, work in process or materials used or consumed or to be used or consumed in Borrower’s business, or
the processing, packaging, promotion, delivery or shipping of the same, and all finished goods, whether or not the same is in transit or in the constructive, actual or exclusive possession of Borrower or is held by others for Borrower’s
account, including, without limitation, all goods covered by purchase orders and contracts with suppliers and all goods billed and held by suppliers and all such property that may be in the possession or custody of any carriers, forwarding agents,
truckers, warehousemen, vendors, selling agents or other Persons. 
 “Investment Property” means any “investment
property,” as such term is defined in the UCC, now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 

“Letter of Credit Rights” means any “letter of credit rights,” as such term is defined in the UCC, now owned
or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest, including any right to payment under any letter of credit. 

“License” means any Copyright License, Patent License, Trademark License or other license of rights or interests now
held or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest and any renewals or extensions thereof. 

“Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment for security, security interest, levy, lien,
charge or similar encumbrance of any kind, whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional sale or other title retention agreement, any lease in the nature of a security interest, and
the filing of any financing statement (other than a precautionary financing statement with respect to a lease that is not in the nature of a security interest) under the UCC or comparable law of any applicable jurisdiction. 

“Loan” means an extension of credit by Lender under this Agreement.

 “Loan Documents” means, individually and collectively, this Loan and
Security Agreement, each Supplement, each Note, the Intellectual Property Security Agreement, and any other security or pledge agreement(s), any Warrants issued by Borrower in connection with this Agreement, and all other contracts, instruments,
addenda and documents executed in connection with this Agreement or the extensions of credit which are the subject of this Agreement. 

“Material Adverse Effect” or “Material Adverse Change” means (a) a material adverse change
in, or a material adverse effect upon, the operations, business, properties, or condition (financial or otherwise) of Borrower; (b) a material impairment of the ability of Borrower to perform under any Loan Document; or (c) a material
adverse effect upon the legality, validity, binding effect or enforceability against Borrower of any Loan Document. 

“Note” means a promissory note substantially in the form attached to the Supplement as Exhibit “A”,
executed by Borrower evidencing each Loan. 
 “Obligations” means all debts, obligations and liabilities of Borrower
to Lender currently existing or now or hereafter made, incurred or created under, pursuant to or in connection with this Agreement or any other Loan Document, whether voluntary or involuntary and however arising or evidenced, whether direct or
acquired by Lender by assignment or succession, whether due or not due, absolute or contingent, liquidated or unliquidated, determined or undetermined, and whether Borrower may be liable individually or jointly, or whether recovery upon such debt
may be or become barred by any statute of limitations or otherwise unenforceable; and all renewals, extensions and modifications thereof; and all attorneys’ fees and costs incurred by Lender in connection with the collection and enforcement
thereof as provided for in any Loan Document. 
 “Ordinary Course Subsidiary Invoices” means invoiced amounts or other amounts
payable by the Borrower to its direct or indirect international Subsidiaries in return for goods and services provided by such Subsidiaries in the ordinary course. 

“Patent License” means any written agreement granting any right with respect to any invention on which a Patent is in
existence now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 

 

  
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 “Patents” means all of the following property now owned or hereafter
acquired by Borrower or in which Borrower now holds or hereafter acquires any interest: (a) all letters patent of, or rights corresponding thereto in, the United States or any other country, all registrations and recordings thereof, and all
applications for letters patent of, or rights corresponding thereto in, the United States or any other country, including, without limitation, registrations, recordings and applications in the United States Patent and Trademark Office or in any
similar office or agency of the United States, any State thereof or any other country; (b) all reissues, continuations, continuations-in-part or extensions thereof;
(c) all petty patents, divisionals, and patents of addition; and (d) all patents to be issued under any such applications. 

“Permitted Lien” means: 

(a) involuntary Liens which, in the aggregate, would not have a Material Adverse Effect and which in any event would not exceed, in the
aggregate, the Threshold Amount; 
 (b) Liens for current taxes or other governmental or regulatory assessments which are not
delinquent, or which are contested in good faith by the appropriate procedures and for which appropriate reserves are maintained; 

(c) security interests on any property held or acquired by Borrower in the ordinary course of business securing Indebtedness incurred or
assumed for the purpose of financing all or any part of the cost of acquiring such property; provided, that such Lien attaches solely to the property acquired with such Indebtedness and that the principal amount of such Indebtedness does not
exceed one hundred percent (100%) of the cost of such property; 
 (d) Liens in favor of Lender; 

(e) bankers’ liens, rights of setoff and similar Liens incurred on deposits made in the ordinary course of business as long as an
account control agreement (or equivalent) for each account in which such deposits are held in a form acceptable to Lender has been executed and delivered to Lender; 

(f) materialmen’s, mechanics’, repairmen’s, employees’ or other like Liens arising in the ordinary course of
business and which are not delinquent for more than 45 days or are being contested in good faith by appropriate proceedings;

 (g) any judgment, attachment or similar Lien, unless the judgment it secures has not been
discharged or execution thereof effectively stayed and bonded against pending appeal within 30 days of the entry thereof; 
 (h)
licenses or sublicenses of Intellectual Property in accordance with the terms of Section 6.5 hereof; 
 (i) Liens securing
Subordinated Debt; 
 (j) Liens granted to EWB securing the EWB Working Capital Facility and permitted under the ICA; and 

(k) Liens which have been approved by Lender in writing prior to the Closing Date, as shown on Schedule 6.2 hereto. 

“Person” means any individual, sole proprietorship, partnership, joint venture, trust, unincorporated organization,
association, corporation, limited liability company, institution, public benefit corporation, other entity or government (whether federal, state, county, city, municipal, local, foreign, or otherwise, including any instrumentality, division, agency,
body or department thereof). 
 “Pre-Existing Intercompany Balances” means any de minimis
Indebtedness among Borrower and its domestic subsidiaries incurred prior to, and in existence on, the Closing Date. 

“Proceeds” means “proceeds,” as such term is defined in the UCC and, in any event, shall include, without
limitation, (a) any and all Accounts, Chattel Paper, Instruments, cash or other forms of money or currency or other proceeds payable to Borrower from time to time in respect of the Collateral, (b) any and all proceeds of any insurance,
indemnity, warranty or guaranty payable to Borrower from time to time with respect to any of the Collateral, (c) any and all payments (in any form whatsoever) made or due and payable to Borrower from time to time in connection with any
requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Collateral by any governmental authority (or any Person acting under color of governmental authority), (d) any claim of Borrower against third parties
(i) for past, present or future infringement of any Copyright, Patent or Patent License or (ii) for past, present or future infringement or dilution of any Trademark or Trademark License or for injury to the goodwill associated with any
Trademark, Trademark 

 

  
 24 

 
registration or Trademark licensed under any Trademark License and (e) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. 

“Receivables” means all of Borrower’s Accounts, Instruments, Documents, Chattel Paper, Supporting Obligations, and
letters of credit and Letter of Credit Rights. 
 “Records” means all Borrower’s computer programs, software,
hardware, source codes and data processing information, all written documents, books, invoices, ledger sheets, financial information and statements, and all other writings concerning Borrower’s business. 

“Related Person” means any Affiliate of Borrower, or any officer, employee, director or equity security holder of
Borrower or any Affiliate. 
 “Rights to Payment” means all Borrower’s accounts, instruments, contract rights,
documents, chattel paper and all other rights to payment, including, without limitation, the Accounts, all negotiable certificates of deposit and all rights to payment under any Patent License, any Trademark License, or any commercial or standby
letter of credit. 
 “Scheduled Subsidiary” means any entity listed on Schedule 3.7 as a subsidiary of Borrower. 

“Security Documents” means this Loan and Security Agreement, the Supplement hereto, the Intellectual Property Security
Agreement, and any and all account control agreements, collateral assignments, chattel mortgages, financing statements, amendments to any of the foregoing and other documents from time to time executed or filed to create, perfect or maintain the
perfection of Lender’s Liens on the Collateral. 
 “Shares” means: (a) one hundred percent (100%) of the
issued and outstanding capital stock, membership units or other securities owned or held of record by Borrower in any Direct Subsidiary that is not a controlled foreign corporation (as defined in the Internal Revenue Code), and (b) 65% of the issued
and outstanding capital stock, membership units or other securities entitled to vote owned or held of record by Borrower in any Direct Subsidiary that is a controlled foreign corporation (as defined in the Internal Revenue Code). 

“Subordinated Debt” means Indebtedness (other than Indebtedness to EWB related to the EWB Working Capital
Facility) (i) approved by Lender;

 
and (ii) where the holder’s right to payment of such Indebtedness, the priority of any Lien securing the same, and the rights of the holder thereof to enforce remedies against Borrower
following default have been made subordinate to the Liens of Lender and to the prior payment to Lender of the Obligations, either (A) pursuant to a written subordination agreement approved by Lender in its sole but reasonable discretion or
(B) on terms otherwise approved by Lender in its sole but reasonable discretion. 
 “Subsidiary” means any Person
a majority of the equity ownership or voting stock of which is directly or indirectly now owned or hereafter acquired by Borrower or by one or more Scheduled Subsidiaries, or in which Borrower or one or more Scheduled Subsidiaries directly or
indirectly now holds or hereafter acquires any interest. 
 “Supplement” means that certain supplement to the Loan and
Security Agreement, as the same may be amended or restated from time to time, and any other supplements entered into between Borrower and Lender, as the same may be amended or restated from time to time. 

“Supporting Obligations” means any “supporting obligations,” as such term is defined in the UCC, now owned or
hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 
 “Termination
Date” has the meaning specified in the Supplement. 
 “Threshold Amount” has the meaning specified
in the Supplement. 
 “Trademark License” means any written agreement granting any right to use any Trademark or
Trademark registration now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 

“Trademarks” means all of the following property now owned or hereafter acquired by Borrower or in which Borrower now
holds or hereafter acquires any interest: (a) all trademarks, tradenames, corporate names, business names, trade styles, service marks, logos, other source or business identifiers, prints and labels on which any of the foregoing have appeared
or appear, designs and general intangibles of like nature, now existing or hereafter adopted or acquired, all registrations and recordings thereof, and any applications in connection therewith, including, without

 

  
 25 

 
limitation, registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other
country or any political subdivision thereof and (b) reissues, extensions or renewals thereof. 
 “UCC” means the
Uniform Commercial Code as the same may, from time to time, be in effect in the State of California; provided, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or
remedies with respect to, Lender’s Lien on any Collateral is governed by the Uniform Commercial Code as enacted and in effect in a jurisdiction other than the State of California, the term “UCC” shall mean the Uniform Commercial Code
as enacted and in effect in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority or remedies and for purposes of definitions related to such provisions. Unless otherwise defined
herein, terms that are defined in the UCC and used herein shall have the meanings given to them in the UCC. 

“Warrants” has the meaning specified in the Supplement. 

[Signature page follows]

     

 

  
 26 

 [Signature page to Loan and Security Agreement] 

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

 

			
	
	BORROWER:
	
	IDENTIV, INC.
		
	By:	 	 /s/ STEVEN FINNEY

	Name:	 	 STEVEN FINNEY

	Title:	 	 INTERIM CFO

	
	LENDER:
	
	VENTURE LENDING & LEASING VII, INC.
		
	By:	 	 /s/ JAY COHAN

	Name:	 	 JAY COHAN

	Title:	 	 VICE PRESIDENT

	
	LENDER:
	
	VENTURE LENDING & LEASING VIII, INC.
		
	By:	 	 /s/ JAY COHAN

	Name:	 	 JAY COHAN

	Title:	 	 VICE PRESIDENT

 [Schedules to Loan and Security Agreement follow]

     

 

 Schedules to 

Loan and Security Agreement 
 dated
as of February 8, 2017 
 between 

Identiv, Inc. 
 and 

Venture Lending & Leasing VII, Inc. 

and 
 Venture Lending &
Leasing VIII, Inc. 
  
  

Schedule of Exceptions 
 None 

Schedule 3.7. Scheduled Subsidiaries 
 Direct
Subsidiaries 
 idOnDemand.Inc (US)* 
 Identiv GmbH
(Germany) 
 SCM Microsystems Group Limited (UK) 
 Microtech
International Inc. (US)* 
 SCM Microsystems Inc. (US)* 
 Dazzle
Multimedia Inc. (US)* 
 SCM Micro-systems Private Ltd (Singapore) 

Identiv KK (Japan) 
 Bluehill ID AG (Switzerland) 

ACiG Technology Corp. (US)* 
  

	*	Borrower represents and warrants to Lender that none of such above-described Direct Subsidiaries has any material assets or operations. 

Other Scheduled Subsidiaries 
 Identiv Pte. Ltd.
(Singapore) 
 Identiv Pvt Ltd. (India) 
 SCM Microsystems
Limited (UK) 
 Multicard Pty. Limited (Australia) 
 Shuttle
Technology Inc. (US)* 
 SCM Microsystems Private Ltd (India) 

Intermart Systems Inc. (US) 
 Identive Services AG (Switzerland)

 Identive Technologies AG (Germany) 
 4446691 Canada, Inc.
(Canada) 
  

	*	Borrower represents and warrants to Lender that such above-described Other Schedule Subsidiary does not have any material assets or operations. 

Schedule 6.1. Permitted Indebtedness 
 Indebtedness
payable to Secure Keyboards, Ltd. under an Amended and Restated Settlement Agreement dated as of April 8, 2009. 
 Permitted Investments 

Equity investment of 19.9% in Rockwest Technology Group, d/b/a Multicard US 

Schedule 6.2. Permitted Liens 
 None

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