Document:

EX-10.2

 Exhibit 10.2 

CHANGE IN CONTROL AND SEVERANCE AGREEMENT 

This Change in Control and Severance Agreement (the “Agreement”) is made and entered into by and between Michael Newman
(“Executive”) and Novatel Wireless, Inc., a Delaware corporation (the “Company”), this 30th day of August, 2014, effective as of the date Executive commences employment with the Company (the “Effective
Date”). 
 WHEREAS, The Board of Directors of the Company (the “Board”) recognizes the importance of
Executive’s role at the Company and that the possibility of an acquisition of the Company or an involuntary termination can be a distraction to Executive and can cause Executive to consider alternative employment opportunities. The Board has
determined that it is in the best interests of the Company and its shareholders to assure that the Company will have the continued dedication and objectivity of Executive, notwithstanding the possibility, threat or occurrence of such an event.

 WHEREAS, the Board believes that it is in the best interests of the Company and its shareholders to provide Executive with an
incentive to continue Executive’s employment and to motivate Executive to maximize the value of the Company upon a Change in Control (as defined below) for the benefit of its stockholders. 

WHEREAS, the Board believes that it is imperative to provide Executive with severance benefits upon certain terminations of
Executive’s service to the Company that enhance Executive’s financial security and provide incentive and encouragement to Executive to remain with the Company notwithstanding the possibility of such an event. 

WHEREAS, unless otherwise defined herein, capitalized terms used in this Agreement are defined in Section 9 below. 

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, including the agreements set forth
below, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Term of
Agreement. 
 This Agreement shall become effective as of the Effective Date and terminate upon the date that all obligations of the
parties hereto with respect to this Agreement have been satisfied. 
 2. At-Will Employment. 

The Company and Executive acknowledge that Executive’s employment shall be “at-will,” as defined under applicable law. If
Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided by this Agreement, Executive’s offer letter dated August 30, 2014,
(the “Offer Letter”) the Indemnification Agreement between the Company and Executive entered into on the date hereof, the Company’s bylaws (as may be amended from time to time), the Company’s Amended and Restated
Certificate of Incorporation (as may be amended from time to time), and/or any other agreement evidencing the grant to Executive of equity compensation that is concurrently or hereafter entered into by the parties. 

3. Covered Termination Other Than During a Change in Control Period. 

If Executive experiences a Covered Termination before the earliest of (i) the one-year anniversary of the date a permanent CEO is first
appointed by the Board; (ii) the date on which an individual listed on Schedule A is appointed permanent CEO by the Board; or (iii) the 18-month anniversary of the Effective Date, other than during a Change in Control Period, and if
Executive delivers to the Company a general release of all claims against the Company and its affiliates, in the form provided by the Company which shall be substantially in the form attached as Exhibit A (which form may be modified by the Company
to comply with the facts and applicable law) (a “Release of Claims”) that becomes effective within 55 days following the Covered Termination and irrevocable within 62 days following the Covered Termination (the “Release
Requirements”), then in addition to any accrued but unpaid salary, accrued but unused vacation, incurred but unreimbursed business expenses payable in accordance with applicable law, or vested benefits (other than severance) under any
Company benefit plan (the “Accrued Amounts”) the Company shall provide Executive with the following: 

  
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 (a) Severance. Executive shall be entitled to receive 50% of his Base Salary (as defined
in Executive’s Offer Letter), payable in cash in the form of salary continuation, commencing on the first normally-scheduled Company payroll date that is at least 75 days following the Termination Date (with any such amounts that normally would
have been payable during the period between the Termination Date and such first payment being included in such first payment), less authorized deductions and applicable withholding taxes. 

(b) Equity Awards. Each outstanding and unvested stock option and restricted stock unit award, held by Executive that vests solely based
upon Executive’s continued employment and is not a “Compensatory RSU” as defined in the Executive’s Offer Letter, shall automatically become vested and, if applicable, exercisable and any forfeiture restrictions or rights of
repurchase thereon shall immediately lapse, as of immediately prior to the Termination Date with respect to that number of shares of Company Common Stock that would have next vested had Executive continued employment with the Company through that
next vesting date. All such equity awards or the proceeds therefrom shall be held by the Company until such time as the Executive timely satisfied the Release Requirements. 

(c) Continued Healthcare. If Executive elects to receive continued healthcare coverage pursuant to the provisions of the Consolidated
Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall directly pay the premium for Executive and Executive’s covered dependents, if any, through the earliest of (i) the nine (9) month
anniversary of the Termination Date, (ii) the date Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under another employer of Executive plan(s) and (iii) the date that Executive and/or
Executive’s covered dependents, if any, become no longer eligible for COBRA. Any such payment or reimbursement shall be subject to any required withholding taxes. After the Company ceases to pay premiums pursuant to the preceding sentence,
Executive may, if eligible, elect to continue healthcare coverage at Executive’s expense in accordance the provisions of COBRA. The Company shall have no obligation to make any payment under this subsection (c) if it reasonably determines
that doing so would cause adverse consequences under Section 105(h) of the Internal Revenue Code or the Patient Protection and Affordable Care Act or other similar law. 

(d) Pro Rata Bonus. Executive shall receive a pro rata bonus for the fiscal year of termination based on achievement of the applicable
performance goals for the fiscal year of termination based on the number of days in the fiscal year during which Executive was employed as compared to 365, and shall be based on actual achievement of corporate performance goals and criteria as
determined by the Board, and shall be based on assumed full achievement of any individual performance goal and criteria, and paid to Executive at the time such bonuses normally are paid, but not later than the March 15 of the calendar year
following the Covered Termination, except if your employment is terminated prior to April 1, 2015, any pro-rata bonus will be paid no later than May 31, 2015. Any such pro rata bonus shall be paid in a single cash lump sum, less authorized
deductions and applicable withholding taxes. 
 4. Covered Termination During a Change in Control Period. 

If Executive experiences a Covered Termination during a Change in Control Period, and if Executive satisfies the Release Requirements, then in
addition to any Accrued Amounts, but in lieu of any amounts the Executive otherwise could have received under Section 3 of this Agreement, the Company shall provide Executive with the following: 

(a) Severance. Executive shall be entitled to receive an amount equal to the sum of eighteen (18) months of Executive’s Base
Salary, plus an amount equal to 12 months of the Executive’s annual target bonus opportunity, in each case, at the rate in effect immediately prior to the Termination Date. The Base Salary component shall be payable in cash in the form of
salary continuation, commencing on the first normally-scheduled Company payroll date that is at least 75 days following the Termination Date (with any such amounts that normally would have been payable during the period between the Termination Date
and such first payment being included in such first payment), less authorized deductions and applicable withholding taxes. The target annual bonus component shall be payable in cash in a lump sum within 10 days of the date the Executive timely
satisfied the Release Requirements. 
 (b) Equity Awards. Each outstanding and unvested stock option and restricted stock unit award,
held by Executive that is not a “Compensatory RSU” as defined in the Executive’s Offer Letter, shall automatically become vested and, if applicable, exercisable and any forfeiture restrictions or rights of repurchase thereon shall
immediately lapse, as of immediately prior to the Termination Date with respect to one hundred percent (100%) of the unvested shares underlying Executive’s equity awards. In all other respects Executive’s equity awards shall continue
to be bound by and subject to the terms of their respective agreements and equity plans. All such equity awards or the proceeds therefrom shall be held by the Company until such time as the Executive timely satisfied the Release Requirements, if at
all. 

  
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 (c) Continued Healthcare. If Executive elects to receive continued healthcare coverage
pursuant to the provisions of COBRA, the Company shall directly pay the premium for Executive and Executive’s covered dependents, if any, through the earliest of (i) the eighteen (18) month anniversary of the Termination Date,
(ii) the date Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under another employer of Executive plan(s) and (iii) the date that Executive and/or Executive’s covered dependents, if
any, become no longer eligible for COBRA. Any such payment or reimbursement shall be subject to any required withholding taxes. After the Company ceases to pay premiums pursuant to the preceding sentence, Executive may, if eligible, elect to
continue healthcare coverage at Executive’s expense in accordance the provisions of COBRA. The Company shall have no obligation to make any payment under this subsection (c) if it reasonably determines that doing so would cause adverse
consequences under Section 105(h) of the Internal Revenue Code or the Patient Protection and Affordable Care Act or other similar law. 

5. In Contemplation. 

In the event Executive is terminated in Contemplation of a Change in Control, Executive shall receive the amounts under Section 3 hereof,
provided that, if the Change of Control actually occurs and that Change in Control satisfies the requirements of Treasury Regulation 1.409A-3(i)(5), upon such Change in Control an extra payment and vesting shall be immediately made to Executive of
any difference between the amounts due under Section 3 and the amounts due under Section 4. 
 6. Other Terminations.

 If Executive’s service with the Company is terminated by the Company or by Executive for any or no reason other than as a Covered
Termination, then Executive shall only be entitled to Accrued Amounts. 
 7. Deemed Resignation. 

Upon termination of Executive’s employment for any reason, Executive shall be deemed to have resigned from all offices and directorships,
if any, then held with the Company or any of its affiliates, and, at the Company’s request, Executive shall execute such documents as are necessary or desirable to effectuate such resignations. 

8. Limitation on Payments. 

Notwithstanding anything in this Agreement to the contrary, if any payment or distribution Executive would receive pursuant to this Agreement
or otherwise (“Payment”) would (a) constitute a “parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and (b) but for this
sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall either be (i) delivered in full or (ii) delivered as to such lesser extent which would result in
no portion of such Payment being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income and payroll taxes and the Excise Tax, results in the receipt by Executive on an
after-tax basis, of the largest payment, notwithstanding that all or some portion the Payment may be taxable under Section 4999 of the Code. The accounting firm engaged by the Company for general audit purposes as of the day prior to the
effective date of the Change in Control or, in the event such accounting firm is precluded from performing calculations hereunder, such other accounting firm of national reputation determined by the Company, and reasonably acceptable to Executive,
shall perform the foregoing calculations. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. The accounting firm shall provide its calculations to the Company and Executive
within fifteen (15) calendar days after the date on which Executive’s right to a Payment is triggered (if requested at that time by the Company or Executive) or such other time as requested by the Company or Executive. Any good faith
determinations of the accounting firm made hereunder shall be final, binding and conclusive upon the Company and Executive. Any reduction in payments and/or benefits pursuant to this Section 8 will occur in the following order:
(1) reduction of cash payments; (2) cancellation of accelerated vesting of equity awards other than stock options (with the later vesting reduced first) (3) cancellation of accelerated vesting of stock options (with the later vesting
reduced first) and (4) reduction of other benefits payable to Executive or any such other order determined by the Company that will not result in adverse tax consequences under Section 409A of the Code. 

  
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 9. Definition of Terms. 

The following terms referred to in this Agreement shall have the following meanings: 

(a) “Cause” means (i) any act of material misconduct or material dishonesty by Executive in the performance of his
duties; (ii) any willful failure, gross neglect or refusal by Executive to attempt in good faith to perform his duties to the Company or to follow the lawful instructions of the Board (except as a result of physical or mental incapacity or
illness) which is not promptly cured after written notice; (iii) Executive’s commission of any fraud or embezzlement against the Company (whether or not a misdemeanor); (iv) any material breach of any written agreement with the
Company, which breach has not been cured by Executive (if curable) within thirty (30) days after written notice thereof to Executive by the Company; (v) Executive’s being convicted of (or pleading guilty or nolo contendere to) any
felony or misdemeanor involving theft, embezzlement, dishonesty or moral turpitude; and/or (vi) Executive’s failure to materially comply with the material policies of the Company in effect from time to time relating to conflicts of
interest, ethics, codes of conduct, insider trading, or discrimination and harassment, or other breach of Executive’s fiduciary duties to the Company, which failure or breach is or could reasonably be expected to be materially injurious to the
business or reputation of the Company. 
 (b) “Change in Control” means either: 

(i) any “person” (as such term is defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) is or becomes, after the Effective Date, a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of securities of the Company representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities eligible to vote for the election of the Board (the “Company Voting
Securities”) or of substantially all of the Company’s assets; provided, however, that an event described in this clause (i) shall not be deemed to be a Change in Control if any of following becomes such a beneficial owner:
(A) the Company or any majority-owned subsidiary (provided, that this exclusion applies solely to the ownership levels of the Company or the majority-owned subsidiary), (B) any tax-qualified, broad-based employee benefit plan sponsored or
maintained by the Company or any majority-owned subsidiary, (C) any underwriter temporarily holding securities pursuant to an offering of such securities, or (D) any person pursuant to a Non-Qualifying Transaction (as defined in clause
(ii)); or 
 (ii) the consummation of a merger, consolidation, statutory share exchange or similar form of corporate transaction involving
the Company or any of its subsidiaries that requires the approval of the Company’s stockholders, whether for such transaction or the issuance of securities in the transaction (a “Business Combination”), unless immediately
following such Business Combination: (A) more than fifty percent (50%) of the total voting power of (x) the corporation resulting from such Business Combination (the “Surviving Corporation”), or (y) if
applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of one hundred (100%) of the voting securities eligible to elect directors of the Surviving Corporation (the “Parent
Corporation”), is represented by Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which such Company Voting Securities were converted pursuant
to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the Business Combination,
(B) no person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Corporation or the Parent Corporation), is or becomes the beneficial owner, directly or indirectly, of more than fifty percent
(50%) of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) and (C) at least a majority of the members of the
board of directors of the Parent Corporation (or if there is no Parent Corporation, the Surviving Corporation) following the consummation of the Business Combination were members of the Board as of the date hereof at the time of the Board’s
approval of the execution of the initial agreement providing for such Business Combination (any Business Combination which satisfies all of the criteria specified in (A), (B) and (C) above shall be deemed to be a “Non-Qualifying
Transaction”). 
 (c) “Change in Control Period” means the period commencing 30 days prior to a Change in Control
and ending on the 12-month anniversary of such Change in Control. 
 (d) “Contemplation of a Change in Control” means a
Covered Termination that occurs as a result of an action directed or requested by a person that directly or indirectly undertakes a transaction that constitutes a Change in Control of the Company. 

(e) “Covered Termination” means Executive’s resignation for Good Reason or the termination of Executive’s employment
by the Company other than a Disability Termination or a termination for Cause that, in each case and to the extent necessary, constitutes a Separation from Service (as defined below). 

  
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 (f) “Disability Termination” means a termination of employment by the Company of
the Executive after the Executive has been unable for 90 days in any 365 day period to perform his material duties because of physical or mental incapacity or illness. 

(g) “Good Reason” means the occurrence, without Executive’s written consent, of any of the following: (i) a material
diminution in Executive’s base compensation; (ii) a material diminution in Executive’s job responsibilities, duties or authorities, or (iii) a material change of at least fifty (50) miles in the geographic location at which
Executive must regularly perform Executive’s service. Notwithstanding the foregoing, Executive shall not be deemed to have “Good Reason” unless: (x) the condition giving rise to such resignation continues more than thirty
(30) days following Executive’s providing to the Company a written notice of detailing such condition (y) such written notice is provided to the Company within ninety (90) days of the initial occurrence of such condition and
(z) Executive’s resignation is effective within thirty (30) days following the expiration of the Company cure period pursuant to subclause (x). 

(h) “Termination Date” means the date Executive experiences a Covered Termination. 

10. Assignment and Successors. 

The Company may assign its rights and obligations under this Agreement to any successor to all or substantially all of the business or the
assets of the Company (by merger or otherwise). This Agreement shall be binding upon and inure to the benefit of the Company, Executive and their respective successors, permitted assigns, personnel and legal representatives, executors,
administrators, heirs, distributees, devisees, and legatees, as applicable. None of Executive’s rights or obligations may be assigned or transferred by Executive, other than Executive’s rights to payments hereunder, which may be
transferred only by will or operation of law. 
 11. Notices. 

Any notice, request, claim, demand, document and other communication hereunder to any party shall be effective upon receipt (or refusal of
receipt) and shall be in writing and delivered personally or sent by facsimile or certified or registered mail, postage prepaid (or if it is sent through any other method agreed upon by the parties), as follows: 

(i) if to the Company: Company: 

     Novatel Wireless, Inc. 

     Attn: Board of Directors 

     Facsimile: (858) 812-3402 

(ii) if to Executive, at the address set forth in Executive’s personnel file with the Company; or 

(iii) at any other address as any party shall have specified by notice in writing to the other party. 

12. Non-Disparagement. 

Executive agrees that he shall not disparage, criticize or defame the Company, its affiliates and their respective affiliates, directors,
officers, agents, partners, shareholders or employees, either publicly or privately, except in the reasonable good faith performance of his duties to the Company. Nothing in this Section 12(b) shall have application to any evidence, testimony
or disclosure required by any court, arbitrator or government agency. 
 13. Dispute Resolution. 

The parties agree that if any disputes should arise between Executive and the Company (including claims against its employees, officers,
directors, shareholders, agents, successors and assigns) relating or pertaining to or arising out of Executive’s employment with the Company, the dispute will be submitted exclusively to binding arbitration before a neutral arbitrator in
accordance with the rules of the American Arbitration Association in San Diego, California. This means that disputes will be decided by an arbitrator rather than a court or jury, and that both Executive and the Company waive their respective
rights to a court or jury trial, except to enforce the decision of the arbitrator. The parties understand that the arbitrator’s decision will be final and exclusive, and cannot be appealed. Nothing in this Agreement is intended to prevent
either Executive or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. The Company and the Executive shall share in the arbitrator’s fees and expenses equally. The
arbitrator shall have the power to award the prevailing party its attorneys’ fees and costs of arbitration (including the arbitrator’s fees paid by the arbitrator) except to the extent prohibited by applicable law. Notwithstanding the
foregoing, Executive and the Company each have the right to resolve any issue or dispute over intellectual property rights by Court action instead of arbitration. 

  
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 14. Miscellaneous Provisions. 

(a) Section 409A. 

(i) Separation from Service. Notwithstanding any provision to the contrary in this Agreement, no amount deemed deferred compensation
subject to Section 409A of the Code shall be payable pursuant to Sections 3, 4 or 5 above unless Executive’s termination of employment constitutes a “separation from service” with the Company within the meaning of
Section 409A of the Code and the Department of Treasury regulations and other guidance promulgated thereunder (“Separation from Service”). 

(ii) Specified Employee. Notwithstanding any provision to the contrary in this Agreement, if Executive is deemed at the time of his
separation from service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the benefits to which Executive is entitled under this Agreement is
required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of Executive’s benefits shall not be provided to Executive prior to the earlier of (A) the expiration of the six (6)-month
period measured from the date of Executive’s Separation from Service or (B) the date of Executive’s death. Upon the first business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) period, all payments
deferred pursuant to this Section 14(a)(ii) shall be paid in a lump sum to Executive, and any remaining payments due under this Agreement shall be paid as otherwise provided herein. 

(iii) Expense Reimbursements. To the extent that any reimbursements payable pursuant to this Agreement are subject to the provisions of
Section 409A of the Code, any such reimbursements payable to Executive pursuant to this Agreement shall be paid to Executive no later than December 31 of the year following the year in which the expense was incurred, the amount of expenses
reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and Executive’s right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 

(iv) Reserved. 
 (v)
Release. Notwithstanding anything to the contrary in this Agreement, to the extent that any payments due under this Agreement as a result of Executive’s termination of employment are subject to Executive’s execution and delivery of
a Release of Claims, (A) the Company shall deliver the Release of Claims to Executive within ten (10) business days following the Termination Date, (B) if Executive fails to execute the Release of Claims on or prior to the Release
Expiration Date (as defined below) or timely revokes his acceptance of the Release of Claims thereafter, Executive shall not be entitled to any payments or benefits otherwise conditioned on the Release of Claims, and (C) in any case where the
Termination Date and the Release Expiration Date fall in two separate taxable years, any payments required to be made to Executive that are conditioned on the Release of Claims and are treated as nonqualified deferred compensation for purposes of
Section 409A shall be made in the later taxable year. For purposes of this Section 14(a)(v), “Release Expiration Date” shall mean the date that is forty-five (45) days following the date upon which the Company timely
delivers the Release of Claims to Executive. 
 (b) Withholding. The Company shall be entitled to withhold from any amounts payable
under this Agreement any federal, state, local or foreign withholding or other taxes or charges which the Company is required to withhold. The Company shall be entitled to rely on an opinion of counsel if any questions as to the amount or
requirement of withholding shall arise. 
 (c) Amendment; Waiver. This Agreement may not be modified, amended, or terminated except by
an instrument in writing, signed by Executive and a member of the Board or a Company officer designated by the Board. No waiver shall operate as a waiver of, or estoppel with respect to, any other or subsequent failure. No failure to exercise and no
delay in exercising any right, remedy, or power hereunder preclude any other or further exercise of any other right, remedy, or power provided herein or by law or in equity. 

(d) Entire Agreement. The terms of this Agreement, collectively with the Offer Letter and the Confidential Information Agreement and
Indemnification Agreement is intended by the Parties to be the final expression of their agreement with respect to the employment of Executive by the Company and supersede all prior understandings and agreements, whether written or oral. The parties
further intend that this Agreement, collectively with the Offer Letter and the Confidential Information Agreement, Indemnification Agreement shall constitute the complete and exclusive statement of their terms and that no extrinsic evidence
whatsoever may be introduced in any judicial, administrative, or other legal proceeding to vary the terms of this Agreement. 

  
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 (e) Choice of Law. The validity, interpretation, construction and performance of this
Agreement shall be governed by the laws of the State of California. 
 (f) Severability. The invalidity or unenforceability of any
provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 

(g) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together
will constitute one and the same instrument. 
 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the
Company by its duly authorized officer, as of the day and year set forth below. 
  

			
	NOVATEL WIRELESS, INC.
		
	By:	 	 /s/ Alex Mashinsky

		
	Title:	 	 Interim Chief Executive Officer

		
	Date:	 	August 30, 2014
	
	EXECUTIVE
	
	 /s/ Michael Newman

	Michael Newman
		
	Date:	 	August 30, 2014

  
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 Schedule A 

Alex Mashinsky 

  
 8Exhibit 10.1

Exhibit 10.1

Execution
AMENDMENT NO. 13 TO CREDIT AGREEMENT AND WAIVER

AMENDMENT NO. 13 TO CREDIT AGREEMENT AND WAIVER (this “Amendment”), dated as of August 28, 2014, by and among AVID TECHNOLOGY, INC., a Delaware corporation (“Avid”), AVID TECHNOLOGY INTERNATIONAL B.V., a Netherlands private limited liability company, acting through its duly established Irish branch (“Avid Ireland” and together with Avid, each individually a “Borrower” and collectively, “Borrowers”), AVID SYSTEMS, INC., a California corporation formerly known as Pinnacle Systems, Inc. (“Pinnacle”), AVID GENERAL PARTNER B.V., a Netherlands private limited liability company (besloten vennootschap) acting for itself and in its capacity as general partner (beherend vennoot) of Avid Technology C.V. (“Avid GP” and together with Pinnacle, each individually a “Guarantor” and collectively, “Guarantors”), the lenders identified on the signature pages hereto (together with their respective successors and assigns, each a “Lender” and collectively, the “Lenders”), and WELLS FARGO CAPITAL FINANCE, LLC, a Delaware limited liability company, as agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, “Agent”).

W I T N E S S E T H:

WHEREAS, Agent, Lenders, Borrowers and Guarantors have entered into financing arrangements pursuant to which Lenders (or Agent on behalf of Lenders) have made and provided and may hereafter make and provide loans, advances and other financial accommodations to Borrowers as set forth in the Credit Agreement, dated October 1, 2010, as amended by Amendment No. 1 to Credit Agreement, dated as of August 16, 2011, by and among Agent, Lenders, Borrowers and Guarantors, Amendment No. 2 to Credit Agreement, dated as of March 16, 2012, by and among Agent, Lenders, Borrowers and Guarantors, Amendment No. 3 to Credit Agreement, dated as of November 20, 2012, by and among Agent, Lenders, Borrowers and Guarantors, Amendment No. 4 to Credit Agreement, dated as of March 28, 2013 by and among Agent, Lenders, Borrowers and Guarantors, Amendment No. 5 to Credit Agreement, dated as of May 14, 2013, Amendment No. 6 to Credit Agreement, dated as of July 15, 2013, and Amendment No. 7 to Credit Agreement, dated as of September 16, 2013, Amendment No. 8 to Credit Agreement, dated as of November 12, 2013, Amendment No. 9 to Credit Agreement, dated as of January 15, 2014, Amendment No. 10 to Credit Agreement, dated as of March 13, 2014, Amendment No. 11, dated as of May 15, 2014, and Amendment No. 12, dated as of July 15, 2014, by and among Agent, Lenders, Borrowers and Guarantors (as the same may hereafter be further amended, modified, supplemented, extended, renewed, restated or replaced, the “Credit Agreement”), and the Waiver of Certain Events of Default by the Lenders dated as of April 4, 2014 (“Waiver”) and the other agreements, documents and instruments referred to therein or at any time executed and/or delivered in connection therewith or related thereto (all of the foregoing, together with the Credit Agreement and this Amendment, as the same now exist or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced, being collectively referred to herein as the “Loan Documents”); 

WHEREAS, Borrowers have requested that Agent and Lenders extend the Maturity Date of the Credit Agreement and make certain other amendments to the Credit Agreement, and Agent and Lenders are willing to make such amendments, subject to terms and conditions set forth herein; and 

WHEREAS, by this Amendment, Borrowers, Guarantors, Agent and Lenders desire and intend to evidence such amendments;

NOW, THEREFORE, in consideration of the foregoing, and the respective agreements and covenants contained herein, the parties hereto agree as follows:

1.Definitions.  
(a)Amendments to Definitions.
(i)The definition of “EBITDA” set forth in Schedule 1.1 to the Credit Agreement is hereby amended and restated in its entirety as follows:
“EBITDA” means, with respect to a Person or assets, on a consolidated basis and determined in accordance with GAAP, for any specified period, Consolidated Operating Income for such period plus, without duplication: 
(a)one-time charges incurred in connection with the transactions contemplated by the acquisition of such Person or assets (on a consolidated basis), to the extent that such transaction costs are factually supportable and reasonably acceptable to Agent, and were deducted in computing such Consolidated Operating Income during such period; plus
(b)depreciation, amortization (including amortization of intangibles and any non-cash charges for impairment of such intangibles but excluding amortization of prepaid cash expenses that were paid in a prior period) and other non-cash expenses or charges (including stock based compensation expense but excluding any such non-cash expense or charge to the extent that it represents an accrual of or reserve for cash expenses or charges in any future period or amortization of a prepaid cash expense or charge that was paid in a prior period) of such Person or assets (on a consolidated basis) for such period to the extent that such depreciation, amortization and other non-cash expenses or charges are factually supportable and reasonably acceptable to Agent, and were deducted in computing such Consolidated Operating Income during such period; plus
(c)one-time charges incurred in connection with the Company’s restructuring activities, to the extent that such restructuring costs were deducted in computing such Consolidated Operating Income during such period; provided, that, such charges are factually supportable and are reasonably acceptable to the Agent; plus
(d)one-time customary fees and expenses of such Person or assets (on a consolidated basis) payable in connection with an acquisition (including, without limitation, any indebtedness or equity issued to finance such acquisition); provided, that, such fees and expenses are factually supportable and are reasonably acceptable to the Agent, and to the extent such fees and expenses were deducted in computing such Consolidated Operating Income during such period; plus
(e)one-time unusual or extraordinary costs or losses (including losses incurred in connection with the Company’s sale of assets); provided, that, such costs are factually supportable and are reasonably acceptable to the Agent, and to the extent such fees and expenses were deducted in computing such Consolidated Operating Income during such period; plus
(f)one-time professional fees and expenses incurred in connection with the investigation of post-contract customer support (“PCS”) accounting and the related restatement of Avid and its Subsidiaries audited consolidated financial statements for the 2009, 2010 and 2011 fiscal years, to the extent such fees and expenses were deducted in computing such Consolidated Operating Income 

during such period; provided, that, such fees and expenses are factually supportable and are reasonably acceptable to Agent; less
(g)one-time, non-recurring revenue resulting from the PCS accounting change and related restatement of Avid and its Subsidiaries audited consolidated financial statements for the 2009, 2010 and 2011 fiscal years to the extent such revenue was included in computing such Consolidated Operating Income during such period; less
(h)one-time unusual or extraordinary income or gains (including gains incurred in connection with the Company’s sale of assets), to the extent such income or gains were included in computing such Consolidated Operating Income during the period.
(ii)The definition of “Maximum Irish Revolver Amount” set forth in Schedule 1.1 of the Credit Agreement is hereby deleted in its entirety and the following substituted therefor:
“Maximum Irish Revolver Amount” means $15,000,000, as such amount may be reduced pursuant to Section 2.3(c).
(iii)The definition of “Maximum US Revolver Amount” set forth in Schedule 1.1 of the Credit Agreement is hereby amended by deleting “$40,000,000” and substituting “$45,000,000” therefor.
(b)Additional Definition.  As used herein, the following term shall have the following meaning, and the Loan Agreement is hereby amended to include, in addition and not in limitation, the following:
“Capital Expenditures” means, with respect to any Person for any period, the aggregate of all expenditures by such Person and its Subsidiaries during such period that are capital expenditures as determined in accordance with GAAP, whether such expenditures are paid in cash or financed; provided, that, Capital Expenditures shall exclude capitalization of software development.
(c)Interpretation.  Capitalized terms used herein which are not otherwise defined herein shall have the respective meanings ascribed thereto in the Credit Agreement.
2.Section 3.3 (Maturity).  Section 3.3 of the Credit Agreement is hereby amended by deleting “October 1, 2014” and substituting “October 1, 2015” therefor.
3.Section 5.1 (Financial Statements, etc.).  Section 5.1 of the Credit Agreement is hereby amended by adding the following sentence immediately after the period appearing at the end of such Section:  
“Notwithstanding anything to the contrary contained herein or in any of the other Loan Documents, 
(a)the audited consolidated financial statements of Avid and its Subsidiaries for the 2012 and 2013 fiscal years which are delivered pursuant to Section 5.1 of the Credit Agreement shall be substantially similar, in all material respects, to the drafts thereof delivered to Agent on July 26, 2014, as determined by Agent in its Permitted Discretion;
(b)the unaudited consolidated financial statements of Avid and its Subsidiaries for the three months ended March 31, 2014 which are delivered to Agent pursuant to Section 5.1 shall be substantially similar, in all material respects, to the drafts delivered to Agent on August 13, 2014, as determined by Agent in its Permitted Discretion;
(c)all such financial statements referenced in clause (a) of this Section, together with the restated audited consolidated financial statements for 2011 fiscal year shall be delivered to Agent, together with, in the case of the audited consolidated financial statements of Avid and its 

Subsidiaries for the 2013 fiscal year, a Compliance Certificate related thereto, by no later than September 15, 2014;
(d)the unaudited consolidated financial statements of Avid and its Subsidiaries for the three months ended March 31, 2014 referenced in clause (b) of this Section shall be delivered to Agent, together with a Compliance Certificate related thereto, by no later than September 22, 2014; and
(e)preliminary unaudited consolidated financial statements of Avid and its Subsidiaries for the six months ended June 30, 2014 (“Preliminary Q2 Financial Statements”) shall be delivered to Agent by no later than September 22, 2014, together with a Modified Compliance Certificate (as defined below), and such Preliminary Q2 Financial Statements shall be prepared on a basis materially consistent with GAAP (subject to normal quarter end adjustments and the absence of footnotes), in a form reasonably acceptable to Agent and shall be substantially similar, in all material respects, to the drafts delivered to Agent on August 13, 2014, as determined by Agent in its Permitted Discretion.  As used in this clause (e), “Modified Compliance Certificate” shall mean a compliance certificate substantially in the form of the Compliance Certificate, except that Section 1 thereof shall be amended by deleting the phrase “prepared in accordance with GAAP”, and replacing it with “prepared on a basis materially consistent with GAAP.”  The unaudited consolidated financial statements of Avid and its Subsidiaries for the six months ended June 30, 2014 shall be delivered to Agent, together with a Compliance Certificate related thereto, by no later than November 3, 2014 and shall be substantially similar, in all material respects, to the Preliminary Q2 Financial Statements delivered to Agent on September 22, 2014, as determined by Agent in its Permitted Discretion.”
4.Section 7 of the Credit Agreement is hereby amended by deleting such Section in its entirety and replacing it with the following:
“7.    FINANCIAL COVENANTS.  Loan Parties covenant and agree, until termination of all of the Commitments and payment in full of the Obligations as follows:
7.1    Required Availability.  Borrowers will have Required Availability at all times.
7.2    Minimum EBITDA.  The EBITDA of Avid and its Subsidiaries for each period set forth below will not be less than the amount set forth opposite such period below:
Period                Minimum EBITDA
1/1/2014 to 12/31/2014    $33,800,000
    
7.3    Maximum Capital Expenditures.  Avid and its Subsidiaries shall not make Capital Expenditures during the period from 1/1/2014 to 12/31/2014 in an amount in excess of $16,000,000.”
5.Schedule C-1 (Commitments).  Schedule C-1 to the Credit Agreement is hereby deleted and the Exhibit A annexed hereto substituted therefor.
6.Schedule 5.1 (Financial Statements; Reports, Certificates).  Schedule 5.1 to the Credit Agreement is hereby amended by adding the following at the end of such Section:

	
		
	“Concurrently with the delivery of each financial statement delivered pursuant to Section 5.1 and Schedule 5.1, commencing with delivery of financial statements for the 2013 fiscal year
	A detailed calculation of EBITDA for the period covered by such financial statement which shows all adjustments to Consolidated Operating Income in the calculation of such EBITDA

7.Schedule 5.2 (Collateral Reporting).  Schedule 5.2 to the Credit Agreement is hereby amended by adding the following at the end of such Section:
	
		
	“Monthly (no later than the tenth (10th) day of each month), but weekly (no later than the Second (2nd) day after the end of each week) at any time Excess Availability is less than $30,000,000
	a report of Priority Payables

8.Fees.  In addition to all other fees payable by Borrowers under the Credit Agreement and the other Loan Documents, in consideration of this Amendment, Borrowers shall pay to Agent, for itself and the other lenders in accordance with its arrangements with such Lenders, an amendment fee in the amount of $65,000, which fee shall be fully earned and payable as of the date hereof.  Agent may, at its option, charge such amendment fee to any loan account of Borrowers maintained by Agent.
9.Conditions Precedent.  This Amendment shall become effective on the first date upon which each of the following conditions precedent has been satisfied in a manner satisfactory to Agent:
(a)Agent shall have received this Amendment, duly authorized, executed and delivered by Borrowers, Guarantors and the Required Lenders; 
(b)Agent is in receipt in immediately available funds, or has charged a loan account of Borrowers, the fee referred to in Section 7 hereof;
(c)on the date of this Amendment and immediately after giving effect hereto, Excess Availability shall not be less than $20,000,000; and
(d)on the date of this Amendment and immediately after giving effect hereto, no Default or Event of Default shall exist or shall have occurred and be continuing.  
10.Waiver of Certain Defaults.  
(a)Subject to the terms and conditions set forth herein, Agent and Lenders hereby waive the following Defaults or Events of Default, to the extent that the following events or matters are, or may be deemed to be, Defaults or Events of Default:  any Defaults or Events of Default under Section 8.2 and Section 8.8 of the Credit Agreement occurring from the making by the Borrowers and Guarantors of an untrue representation under, or the failure of the Borrowers and Guarantors to comply with the terms of, Sections 4.8 and 5.8 of the Credit Agreement as a result of failing to comply with Section 13 of the Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder, in each case solely due to Avid’s delay in timely filing its quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2014.
(b)Agent and Lenders have not waived, are not by this Amendment waiving, and have no intention of waiving any Default or Event of Default which may have occurred on or prior to the date hereof, whether or not continuing on the date hereof, or which may occur after the date hereof (whether the same or similar to the Defaults or Events of Default referred to above or otherwise), other than the Defaults and Events of Default specifically referred to above in Section 10(a).  The foregoing waiver shall not be construed as a bar to or a waiver of any other or further Default or Event of Default on any future occasion, whether similar in kind or otherwise and shall not constitute a waiver, express or implied, of any of the rights and remedies of Agent or Lenders arising under the terms of the Credit Agreement or any other Loan Documents on any future occasion or otherwise.
11.Representations, Warranties and Covenants.  Each Borrower and Guarantor hereby represents and warrants to the Lender Group the following (which shall survive the execution and delivery 

of this Amendment), the truth and accuracy of which representations and warranties are a continuing condition of the making of Advances and providing Letters of Credit to Borrowers:
(a)each Loan Party (i) is duly organized and existing and in good standing (or the applicable equivalent under local law) under the laws of the jurisdiction of its organization, and in the case of Avid Ireland, is a duly established branch of a Netherlands private limited liability company pursuant to and in accordance with the European Communities (Branch Disclosures) Regulations 1993 of Ireland, (ii) is qualified to do business in any state or other jurisdiction where the failure to be so qualified could reasonably be expected to result in a Material Adverse Change, and (iii) has all requisite power and authority to own and operate its properties, to carry on its business as now conducted and as proposed to be conducted, to enter into this Amendment and to carry out the transactions contemplated hereby.
(b)this Amendment has been duly executed and delivered by each Loan Party and is the legally valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally;
(c)the execution, delivery, and performance by each Loan Party of this Amendment has been duly authorized by all necessary action on the part of such Loan Party;
(d)as to each Loan Party, the execution, delivery, and performance by such Loan Party of this Amendment do not and will not (i) violate any material provision of federal, state, or local law or regulation applicable to such Loan Party, the Governing Documents of such Loan Party, or any order, judgment, or decree of any court or other Governmental Authority binding on such Loan Party, (ii) conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any Material Contract of such Loan Party except to the extent that any such conflict, breach or default could not individually or in the aggregate reasonably be expected to have a Material Adverse Change, (iii) result in or require the creation or imposition of any Lien of any nature whatsoever upon any assets of such Loan Party, other than Permitted Liens, or (iv) require any approval of such Loan Party’s interestholders or any approval or consent of any Person under any Material Contract of such Loan Party, other than consents or approvals that have been obtained and that are still in force and effect and except, in the case of Material Contracts, for consents or approvals, the failure to obtain could not individually or in the aggregate reasonably be expected to cause a Material Adverse Change;
(e)the execution, delivery, and performance by each Loan Party of this Amendment and the consummation of the transactions contemplated hereby do not and will not require any registration with, consent, or approval of, or notice to, or other action with or by, any Governmental Authority, other than registrations, consents, approvals, notices, or other actions that have been obtained and that are still in force and effect;
(f)after giving effect to this Amendment, including, without limitation, Section 10 hereof, the representations and warranties of the Loan Parties contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects (except, that, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the date hereof as though made on and as of the date hereof (except to the extent that such representations and warranties relate solely to an earlier date); 
(g)Loan Parties shall report to Agent on a regular basis, and in any event not less frequently than weekly, with respect to the status of the preparation of the consolidated and consolidating audited financial statements of Avid and its Subsidiaries as required pursuant to Section 5.1 of the Credit Agreement and Schedule 5.1 thereto with respect to the fiscal years of Loan Parties ended December 31, 2012 and December 31, 2013, together with such other information with respect thereto as Agent may from time to time request; and
(h)as of the date hereof, and after giving effect to this Amendment and the Waiver, no Default or Event of Default exists or has occurred and is continuing.

12.Effect of this Agreement.  Except as expressly amended pursuant hereto and the Waiver, no other changes, waivers or modifications to the Loan Documents are intended or implied, and in all other respects the Loan Documents are hereby specifically ratified and confirmed by all parties hereto as of the date hereof.  To the extent that any provision of the Credit Agreement or any of the other Loan Documents are inconsistent with the provisions of this Amendment, the provisions of this Amendment shall control.
13.Further Assurances.  Borrowers and Guarantors shall execute and deliver such additional documents and take such additional action as may be reasonably requested by Agent to effectuate the provisions and purposes hereof.
14.Governing Law.  The validity of this Amendment, the construction, interpretation and enforcement hereof, and the rights of the parties hereto with respect to all matters arising hereunder or related hereto shall be determined under, governed by, and construed in accordance with the laws of the State of New York but excluding any principles of conflicts of law or other rule of law that would cause the application of the law of any jurisdiction other than the laws of the State of New York.
15.Binding Effect.  This Amendment shall bind and inure to the benefit of the respective successors and assigns of each of the parties hereto.
16.Counterparts; Electronic Execution.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same agreement.  Delivery of an executed counterpart of this Amendment by telefacsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Amendment.  Any party delivering an executed counterpart of this Amendment by telefacsimile or other electronic method of transmission also shall deliver an original executed counterpart of this Amendment but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment.  

[SIGNATURES APPEAR ON NEXT PAGE]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed on the day and year first above written.

BORROWERS:

	
	
	AVID TECHNOLOGY, INC.

	 

	 

	By: /s/ John W. Frederick
Name:  John W. Frederick
Title:    Executive Vice President, Chief Financial Officer and Chief Administrative Officer

	
	
	AVID TECHNOLOGY INTERNATIONAL B.V.

	 

	 

	By: /s/ John W. Frederick
Name:  John W. Frederick
Title:    Executive Vice President, Chief Financial Officer and Chief Administrative Officer

GUARANTORS:

	
	
	AVID SYSTEMS, INC.

	 

	 

	By: /s/ John W. Frederick
Name:  John W. Frederick
Title:    Executive Vice President, Chief Financial Officer and Chief Administrative Officer

	
	
	AVID GENERAL PARTNER B.V. acting for itself and

	in its capacity of general partner (beherend vennoot) of Avid

	Technology C.V.

	 

	By: /s/ John W. Frederick
Name:  John W. Frederick
Title:    Executive Vice President, Chief Financial Officer and Chief Administrative Officer

AGENT AND LENDERS:

	
	
	WELLS FARGO CAPITAL FINANCE, LLC, as 

	Agent and a Lender

	 

	By: /s/ Willis Williams
Name:  Willis Williams
Title:    Vice President

Exhibit A
to
Amendment No. 13 to Credit Agreement

SCHEDULE C-1 
to
CREDIT AGREEMENT
Commitments

	
				
	Lender
	

Commitment to US Borrowers
	

Commitment to Avid Ireland
	Total

	Wells Fargo Capital Finance, LLC
	$45,000,000
	$15,000,000
	$60,000,000

	TOTAL:
	$45,000,000
	$15,000,000
	$60,000,000

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