Document:

Exhibit 4.4

 

WARRANT AGREEMENT

 

THIS
WARRANT AGREEMENT (this “Agreement”) is made as of [●], 2021 between Larkspur Health Acquisition Corp.,
a Delaware corporation, with offices at 100 Somerset Corporate Blvd., 2nd Floor, Bridgewater, New Jersey 08807 (“Company”),
and Continental Stock Transfer & Trust Company, a New York limited purpose trust company, with offices at 1 State Street, New York,
New York 10004, as warrant agent (“Warrant Agent”).

 

WHEREAS,
the Company is engaged in a public offering (“Public Offering”) of up to 8,625,000 units (including 1,125,000 units
which may be issued pursuant to an overallotment option granted to the underwriters of the Public Offering), each unit (the “Units”)
comprised of one share of Class A common stock of the Company, par value $0.0001 (“Common Stock”), and one-half of
one warrant, where each whole warrant entitles the holder to purchase one share of Common Stock at a price of $11.50 per share, subject
to adjustment as described herein, and, in connection therewith, will issue and deliver up to 4,312,500 warrants (the “Public
Warrants”) to the public investors in connection with the Public Offering;

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1,
No. 333-256056 (“Registration Statement”) and prospectus (“Prospectus”), for the registration,
under the Securities Act of 1933, as amended (“Act”) of, among other securities, the Public Warrants;

 

WHEREAS,
the Company has received a binding commitment from the Company’s sponsor, Larkspur Health LLC (the “Sponsor”),
to purchase, simultaneously with the closing of the Public Offering, up to an aggregate of 242,600 units (the “Private Units”),
each Private Unit comprised of one share of Common Stock and one-half of one warrant (the “Private Warrants”), where
each Private Warrant is exercisable to purchase one share of Common Stock at a price of $11.50 per whole share, bearing the legend set
forth in Exhibit B hereto;

 

WHEREAS,
following consummation of the Public Offering, the Company may issue additional warrants (“Post IPO Warrants,” and
together with the Public Warrants and Private Warrants, the “Warrants”) in connection with, or following the consummation
by the Company of, a Business Combination (defined below);

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with
the issuance, registration, transfer, exchange, redemption, and exercise of the Warrants;  

 

WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and
the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and
countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding, and legal obligations of the Company, and
to authorize the execution and delivery of this Agreement.

  

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant
Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

2. Warrants.

 

2.1. Form
of Warrant. Each Warrant shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the
provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board of Directors
or Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear a facsimile of the Company’s
seal. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in
which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased
to be such at the date of issuance.

 

     

    

    

 

2.2. Uncertificated
Warrants. Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part of, and be represented
by, a Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or the facilities of The
Depository Trust Company or other book-entry depositary system, in each case as determined by the Board of Directors of the Company or
by an authorized committee thereof. Any Warrant so issued shall have the same terms, force and effect as a certificated Warrant that has
been duly countersigned by the Warrant Agent in accordance with the terms of this Agreement.

 

2.3. Effect
of Countersignature. Except with respect to uncertificated Warrants as described above, unless and until countersigned by the Warrant
Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.4. Registration.

 

2.4.1. Warrant
Register. The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original issuance
and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register
the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered
to the Warrant Agent by the Company.

 

2.4.2. Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat
the person in whose name such Warrant is then registered in the Warrant Register (“registered holder”) as the absolute
owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on the Warrant
certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes,
and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.5. Detachability
of Warrants. The securities comprising the Units will not be separately transferable until the 52nd day following the date
of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks in
New York City are generally open for normal business (a “Business Day”), then on the immediately succeeding Business
Day following such date, or earlier with the consent of A.G.P./Alliance Global Partners (the “Representative”), but
in no event will the Representative allow separate trading of the securities comprising the Units until (i) the Company has filed
a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds
of the Public Offering including the proceeds received by the Company from the exercise of the underwriters’ over-allotment option
in the Public Offering, if the over-allotment option is exercised prior to the filing of the Form 8-K, and (ii) the Company
has issued a press release and has filed a Current Report on Form 8-K announcing when such separate trading shall begin (the “Detachment
Date”).

 

2.6. Private
Warrant Attributes. The Private Warrants will be identical to the Public Warrants.

  

2.7. 
Post IPO Warrants. The Post IPO Warrants, when and if issued, shall have the same terms and be in the same form as the Public Warrants
except as may be agreed upon by the Company. 

 

3. Terms and
Exercise of Warrants

 

3.1. Warrant
Price. Each Warrant shall, when countersigned by the Warrant Agent (except with respect to uncertificated Warrants), entitle the registered
holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the number of shares of
Common Stock stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section 4 hereof and in the
last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement refers to the price per share at
which the shares of Common Stock may be purchased at the time a Warrant is exercised. The Company in its sole discretion may lower the
Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days;
provided, that the Company shall provide at least twenty (20) days’ prior written notice of such reduction to registered holders
of the Warrants and, provided further that any such reduction shall be applied consistently to all of the Warrants.

 

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3.2. Duration
of Warrants. A Warrant may be exercised only during the period commencing on the later of (a) the consummation by the Company of a
merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with
one or more businesses or entities (“Business Combination”) (as described more fully in the Registration Statement)
or (b) one year after the date of the closing of the Public Offering, and terminating at 5:00 p.m., New York City time on the earlier
to occur of (i) the date that is five (5) years after the date on which the Company consummates a Business Combination, (ii) at 5:00
p.m., New York City time on the Redemption Date as provided in Section 6.2 of this Agreement and (iii) the liquidation
of the Trust Account (defined below) (“Expiration Date”). The period of time from the date the Warrants will first
become exercisable until the expiration of the Warrants shall hereafter be referred to as the “Exercise Period.” Except with
respect to the right to receive the Redemption Price (as set forth in Section 6 hereunder), as applicable, each outstanding Warrant
not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this
Agreement shall cease at the close of business on the Expiration Date. The Company in its sole discretion may extend the duration of the
Warrants by delaying the Expiration Date; provided, however, that the Company will provide at least twenty (20) days’ prior
written notice of any such extension to registered holders and, provided further that any such extension shall be applied consistently
to all of the Warrants.

 

3.3. Exercise
of Warrants.

 

3.3.1. Payment.
Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent, may be exercised by the
registered holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor as Warrant Agent,
in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant, duly executed, and by
paying in full the Warrant Price for each share of Common Stock as to which the Warrant is exercised and any and all applicable taxes
due in connection with the exercise of the Warrant, as follows:

 

(a)
in lawful money of the United States, by good certified check or good bank draft payable to the order of the Warrant Agent or wire transfer;

 

(b)
in the event of a redemption pursuant to Section 6.1 hereof in which the Company’s management has elected to force all holders
of Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number of shares of Common
Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants,
multiplied by the difference between the Warrant Price and the “Fair Market Value” (defined below) by (y) the Fair Market
Value. Solely for purposes of this Section 3.3.1(b), the “Fair Market Value” shall mean the average reported closing
price of the shares of Common Stock for the ten (10) trading days ending on the third trading day prior to the date on which the
notice of redemption is sent to holders of the Warrants pursuant to Section 6 hereof; or

   

(c)
in the event the registration statement required by Section 7.4 hereof is not effective and current within ninety (90) days
after the closing of a Business Combination, by surrendering such Warrants for that number of shares of Common Stock equal to the quotient
obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference
between the exercise price of the Warrants and the “Fair Market Value” by (y) the Fair Market Value; provided, however,
that no cashless exercise shall be permitted unless the Fair Market Value is equal to or higher than the exercise price. Solely for purposes
of this Section 3.3.1(c), the “Fair Market Value” shall mean the average reported last sale price of the shares of Common
Stock for the ten (10) trading days ending on the trading day prior to the date of exercise.

 

3.3.2. Issuance
of shares of Common Stock. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the
Warrant Price (if any), the Company shall issue to the registered holder of such Warrant a certificate or certificates, or book entry
position, for the number of shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed
by him, her or it, and if such Warrant shall not have been exercised in full, a new countersigned Warrant, or book entry position, for
the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, in no event will the Company
be required to net cash settle the Warrant exercise. No Warrant shall be exercisable for cash and the Company shall not be obligated to
issue shares of Common Stock upon exercise of a Warrant unless the shares of Common Stock issuable upon such Warrant exercise has been
registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the Warrants.
In the event that the condition in the immediately preceding sentence is not satisfied with respect to a Warrant, the holder of such Warrant
shall not be entitled to exercise such Warrant for cash and such Warrant may have no value and expire worthless, in which case the purchaser
of a Unit containing such Warrants shall have paid the full purchase price for the Unit solely for the shares of Common Stock underlying
such Unit. Warrants may not be exercised by, or securities issued to, any registered holder in any state in which such exercise or issuance
would be unlawful.

 

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3.3.3. Valid
Issuance. All the shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly
issued, fully paid and nonassessable.

 

3.3.4. Date
of Issuance. Each person in whose name any book entry position or certificate for shares of Common Stock is issued shall for all purposes
be deemed to have become the holder of record of such shares on the date on which the Warrant, or book entry position representing such
Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate, except that,
if the date of such surrender and payment is a date when the share transfer books of the Company or book entry system of the Warrant Agent
are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date
on which the share transfer books or book entry system are open.

  

3.3.5 Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained
in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election.
If the election is made by a holder, the Warrant Agent shall not cause the exercise of the holder’s Warrant, and such holder shall
not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such
person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8% (the “Maximum
Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the
foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such person and its affiliates shall include
the number of shares of Common Stock issuable upon exercise of the Warrant with respect to which the determination of such sentence is
being made, but shall exclude shares of Common Stock that would be issuable upon (x) exercise of the remaining, unexercised portion
of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted
portion of any other securities of the Company beneficially owned by such person and its affiliates (including, without limitation, any
convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation
contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated
in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For
purposes of the Warrant, in determining the number of outstanding shares of Common Stock, the holder may rely on the number of outstanding
shares of Common Stock as reflected in (1) the Company’s most recent annual report on Form 10-K, quarterly report
on Form 10-Q, current report on Form 8-K or other public filing with the SEC as the case may be, (2) a more recent
public announcement by the Company or (3) any other notice by the Company or the Warrant Agent setting forth the number of shares
of Common Stock outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the Company shall, within
two (2) Business Days, confirm orally and in writing to such holder the number of shares of Common Stock then outstanding. In any
case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of equity
securities of the Company by the holder and its affiliates since the date as of which such number of outstanding shares of Common Stock
was reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage
applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective
until the sixty-first (61st) day after such notice is delivered to the Company.

 

4. Adjustments.

 

4.1. Stock
Dividends; Split Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding
shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split up of shares of Common Stock,
or other similar event, then, on the effective date of such stock dividend, split up or similar event, the number of shares of Common
Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in outstanding shares of Common Stock.

 

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4.2. Aggregation
of Shares. If after the date hereof, the number of outstanding shares of Common Stock is decreased by a consolidation, combination,
reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation,
combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each
Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock.

  

4.3 Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution
in cash, securities or other assets to the holders of the shares of Common Stock or other shares of the Company’s capital stock
into which the Warrants are convertible (an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective
immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market value (as determined by
the Company’s Board of Directors, in good faith) of any securities or other assets paid in respect of such Extraordinary Dividend
divided by all outstanding shares of the Company at such time (whether or not any stockholders waived their right to receive such dividend);
provided, however, that none of the following shall be deemed an Extraordinary Dividend for purposes of this provision: (a) any adjustment
described in subsection 4.1 above, (b) any cash dividends or cash distributions which, when combined on a per share basis with all
other cash dividends and cash distributions paid on the shares of Common Stock during the 365-day period ending on the date
of declaration of such dividend or distribution does not exceed $0.50 per share (taking into account all of the outstanding shares of
the Company at such time (whether or not any stockholders waived their right to receive such dividend) and as adjusted to appropriately
reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that
resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable on exercise of each Warrant) but only
with respect to the amount of the aggregate cash dividends or cash distributions equal to or less than $0.50, (c) any payment to satisfy
the conversion rights of the holders of the shares of Common Stock in connection with a proposed initial Business Combination or certain
amendments to the Company’s Amended and Restated Certificate of Incorporation (as described in the Registration Statement) or (d) any
payment in connection with the Company’s liquidation and the distribution of its assets upon its failure to consummate a Business
Combination. Solely for purposes of illustration, if the Company, at a time while the Warrants are outstanding and unexpired, pays a cash
dividend of $0.35 and previously paid an aggregate of $0.40 of cash dividends and cash distributions on the shares of Common Stock during
the 365-day period ending on the date of declaration of such $0.35 dividend, then the Warrant Price will be decreased, effectively
immediately after the effective date of such $0.35 dividend, by $0.25 (the absolute value of the difference between $0.75 (the aggregate
amount of all cash dividends and cash distributions paid or made in such 365-day period, including such $0.35 dividend) and
$0.50 (the greater of (x) $0.50 and (y) the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period
prior to such $0.35 dividend)). Furthermore, solely for the purposes of illustration, if following the closing of the Company’s
initial Business Combination, there were 100,000,000 shares outstanding and the Company paid a $1.00 dividend to 17,500,000 of such shares
(with the remaining 82,500,000 shares waiving their right to receive such dividend), then no adjustment to the Warrant Price would occur
as a $17.5 million dividend payment divided by 100,000,000 shares equals $0.175 per share which is less than $0.50 per share.

 

4.4 Adjustments
in Exercise Price. Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided
in Sections 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately
prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon
the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares
of Common Stock so purchasable immediately thereafter.

 

4.5. Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common Stock
(other than a change covered by Section 4.1, 4.2 or 4.3 hereof or that solely affects the par value of the shares of Common Stock),
or in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger in
which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding
shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of
the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Warrant holders shall
thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu
of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented
thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the Warrant holder would have
received if such Warrant holder had exercised his, her or its Warrant(s) immediately prior to such event. If any reclassification also
results in a change in the shares of Common Stock covered by Section 4.1, 4.2 or 4.3, then such adjustment shall be made pursuant
to Sections 4.1, 4.2, 4.3, 4.4 and this Section 4.5. The provisions of this Section 4.5 shall similarly apply to successive
reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the Warrant Price be reduced
to less than the par value per share issuable upon exercise of the Warrant.

  

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4.6. Issuance
in connection with a Business Combination. If, in connection with a Business Combination, the Company (a) issues additional shares
of Common Stock or equity-linked securities at an issue price or effective issue price of less than $9.20 per share (with such issue price
or effective issue price as determined by the Company’s Board of Directors, in good faith, and in the case of any such issuance
to the Company’s initial stockholders, or their affiliates, without taking into account any founders’ shares held by them
prior to such issuance), (b) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and
interest thereon, available for the funding of the Business Combination on the date of the consummation of such Business Combination (net
of redemptions), and (c) the Fair Market Value (as defined below) is below $9.20 per share, the exercise price of the warrants will be
adjusted (to the nearest cent) to be equal to 115% of the greater of (i) the Fair Market Value or (ii) the price at which the Company
issues the shares of Common Stock or equity-linked securities, and the $18.00 per share redemption trigger price will be adjusted (to
the nearest cent) to be equal to 180% of the higher of the Fair Market Value and the price at which the Company issues shares of Common
Stock or equity-linked securities. Solely for purposes of this Section 4.6, the “Fair Market Value” shall mean the
volume weighted average reported trading price of the shares of Common Stock for the twenty (20) trading days starting on the trading
day prior to the date of the consummation of the Business Combination.

 

4.7
Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment
and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a Warrant, setting forth
in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified
in Sections 4.1, 4.2, 4.3, 4.4, 4.5, or 4.6, then, in any such event, the Company shall give written notice to each Warrant holder, at
the last address set forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to
give such notice, or any defect therein, shall not affect the legality or validity of such event.

 

4.8. No
Fractional Warrants or Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue
fractional shares upon exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant
would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise,
round up to the nearest whole number of shares of Common Stock to be issued to the Warrant holder.

 

4.9. Form
of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued
after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant
to this Agreement. However, the Company may at any time in its sole discretion make any change in the form of Warrant that the Company
may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange
or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

4.10 Other
Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections of this Section 4
are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact
on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint
a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which shall give
its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose
of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment. The Company shall adjust
the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

 

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4.11
No Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a result of an adjustment
to the conversion ratio of the Company’s Class B common stock (the “Class B Common Stock”) into shares of Common
Stock or the conversion of the shares of Class B Common Stock into shares of Common Stock, in each case, pursuant to the Company’s
Charter, as amended from time to time.

 

5. Transfer and
Exchange of Warrants.

 

5.1. Registration
of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant Register,
upon surrender of such Warrant for transfer, properly endorsed with signatures, in the case of certificated Warrants, properly guaranteed
and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number
of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the Warrants
so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

5.2. Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, either in certificated form or in book entry position,
together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more
new Warrants, or book entry positions, as requested by the registered holder of the Warrants so surrendered, representing an equal aggregate
number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant
Agent shall not cancel such Warrant and issue new Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel
for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

  

5.3. Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance
of a warrant certificate or book-entry position for a fraction of a Warrant.

 

5.4. Service
Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5. Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms
of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required
by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

5.6. Private
Warrants. The Warrant Agent shall not register any transfer of Private Warrants until after the consummation by the Company of an
initial Business Combination, except for transfers in each case (a) to the
Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members
of the Sponsor, or any affiliates of the Sponsor, (b) in the case of an individual, by gift to a member of one of the members of
the individual’s immediate family or to a trust, the beneficiary of which is a member of one of the individual’s immediate
family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent
and distribution upon death of any of the Company’s officers, directors, the initial stockholders or members of the Sponsor; (d) in
the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection
with the consummation of an initial Business Combination at prices no greater than the price at which the securities were originally purchased;
(f) in the event of the Company’s liquidation prior to the completion of the initial Business Combination; (g) by virtue
of the laws of Delaware or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor; or (h) in the
event of the Company’s liquidation, merger, capital stock exchange, reorganization or other similar transaction which results in
all of the Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other property
subsequent to the Company’s completion of the initial Business Combination; provided, however, that in the case of clauses (a) through
(e) or (g), each transferee (the “Permitted Transferee”) must enter into a written agreement to be bound by these
transfer restrictions contained in this section and any other applicable agreement the transferor is bound by.

 

5.7. Transfers
prior to Detachment. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit
in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit.
Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such
Unit. Notwithstanding the foregoing, the provisions of this Section 5.7 shall have no effect on any transfer of Warrants on or after
the Detachment Date.

 

    7

    

    

 

6. Redemption.

 

6.1. Redemption.
Not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period, at
the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of $0.01 per Warrant (“Redemption
Price”), provided that the closing price of the Common Stock equals or exceeds $18.00 per share (subject to adjustment in accordance
with Section 4 hereof), on each of twenty (20) trading days within any thirty (30) trading day period commencing after
the Warrants become exercisable and ending on the third trading day prior to the date on which notice of redemption is given and provided
that there is an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, and a current
prospectus relating thereto, available throughout the 30-day redemption or the Company has elected to require the exercise of
the Warrants on a “cashless basis” pursuant to subsection 3.3.1(b); provided, however, that if and when the Warrants become
redeemable by the Company, the Company may not exercise such redemption right if the issuance of shares of Common Stock upon exercise
of the Warrants is not exempt from registration or qualification under applicable state blue sky laws or the Company is unable to effect
such registration or qualification.

 

6.2. Date
Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants that are subject to redemption,
the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first
class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date to the registered holders
of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner
herein provided shall be conclusively presumed to have been duly given whether or not the registered holder received such notice.

  

6.3. Exercise
After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with Section 3
of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and
prior to the Redemption Date. In the event the Company determines to require all holders of Warrants to exercise their Warrants on a “cashless
basis” pursuant to Section 3.3.1(b), the notice of redemption will contain the information necessary to calculate the number
of shares of Common Stock to be received upon exercise of the Warrants, including the “Fair Market Value” in such case. On
and after the Redemption Date, the record holder of the Warrants shall have no further rights except to receive, upon surrender of the
Warrants, the Redemption Price.

 

7. Other Provisions
Relating to Rights of Holders of Warrants.

 

7.1. No
Rights as Stockholder. A Warrant does not entitle the registered holder thereof to any of the rights of a stockholder of the Company,
including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent
or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors of the Company or any other
matter.

 

7.2. Lost,
Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent
may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant,
include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or
destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost,
stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3. Reservation
of shares of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares
of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

    8

    

    

 

7.4. Registration
of shares of Common Stock. The Company agrees that as soon as practicable after the closing of its initial Business Combination, it
shall use its best efforts to file with the Securities and Exchange Commission a registration statement for the registration, under the
Act, of the shares of Common Stock issuable upon exercise of the Warrants, and it shall use its best efforts to take such action as is
necessary to register or qualify for sale, in those states in which the Warrants were initially offered by the Company and in those states
where holders of Warrants then reside, the shares of Common Stock issuable upon exercise of the Warrants, to the extent an exemption is
not available. The Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration
statement, and a current prospectus relating thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement.
If any such registration statement has not been declared effective by the 90th day following the closing of the Business Combination,
holders of the Warrants shall have the right, during the period beginning on the 91st day after the closing of the Business Combination
and ending upon such registration statement being declared effective by the Securities and Exchange Commission, and during any other period
when the Company shall fail to have maintained an effective registration statement covering the shares of Common Stock issuable upon exercise
of the Warrants, to exercise such Warrants on a “cashless basis” as determined in accordance with Section 3.3.1(c). The
Company shall provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities
law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance with this Section 7.4 is not
required to be registered under the Act and (ii) the shares of Common Stock issued upon such exercise will be freely tradable under
U.S. federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of the Company and,
accordingly, will not be required to bear a restrictive legend. For the avoidance of any doubt, unless and until all of the Warrants have
been exercised on a cashless basis, the Company shall continue to be obligated to comply with its registration obligations under the first
three sentences of this Section 7.4. The provisions of this Section 7.4 may not be modified, amended, or deleted without the prior written
consent of the Representative.

  

8. Concerning
the Warrant Agent and Other Matters.

 

8.1. Payment
of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant
Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the Company shall not be obligated
to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.

 

8.2. Resignation,
Consolidation, or Merger of Warrant Agent.

 

8.2.1. Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office
of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor
Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days
after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant (who shall,
with such notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of
the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor
Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the
State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized
under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment,
any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor
Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason
it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument
transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon
request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for
more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties,
and obligations.

 

8.2.2. Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the
predecessor Warrant Agent and the transfer agent for the shares of Common Stock not later than the effective date of any such appointment.

 

    9

    

    

 

8.2.3. Merger
or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant
Agent under this Agreement without any further act.

 

8.3. Fees
and Expenses of Warrant Agent.

 

8.3.1. Remuneration.
The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and will reimburse
the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

8.3.2. Further
Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and
delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying
out or performing of the provisions of this Agreement.

 

8.4. Liability
of Warrant Agent.

 

8.4.1. Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary or
desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact
or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established
by a statement signed by the Chief Executive Officer or Chairman of the Board of Directors of the Company and delivered to the Warrant
Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions
of this Agreement.

 

8.4.2. Indemnity.
The Warrant Agent shall be liable hereunder only for its own fraud, gross negligence, willful misconduct or bad faith. The Company agrees
to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel
fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except as a result of the Warrant Agent’s
fraud, gross negligence, willful misconduct, or bad faith.

 

8.4.3. Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution
of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition
contained in this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required under the provisions of Section 4
hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would
require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization
or reservation of any shares of Common Stock to be issued pursuant to this Agreement, the Amended and Restated Certificate of Incorporation
of the Company, or any Warrant or as to whether any shares of Common Stock will, when issued, be valid and fully paid and nonassessable.

 

8.5. Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms
and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently
account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of shares of Common Stock through the exercise
of Warrants.

 

9. Miscellaneous
Provisions.

 

9.1. Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the
benefit of their respective successors and assigns.

 

    10

    

    

 

9.2. Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant
to or on the Company shall be sufficiently given (i) if by email when the email is sent, (ii) if by hand or overnight delivery, when so
delivered, or (iii) if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage
prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

Larkspur Health
Acquisition Corp.

100 Somerset Corporate
Blvd., 2nd Floor

Bridgewater, NJ
08807

Attn: Daniel O’Connor,
Chief Executive Officer

E-mail: danjoc64@gmail.com

 

Any notice, statement
or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall
be sufficiently given (i) if by email, when the email is sent, (ii) if by hand or overnight delivery, when so delivered, or (iii) if sent
by certified mail or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another
address is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental Stock Transfer & Trust
Company

1 State Street

New York, New York 10004

Attn: Compliance Department

  

with a copy in each case to:

 

Manatt, Phelps & Phillips, LLP

695 Town Center Drive

Costa Mesa, CA 92626

Attn: Thomas Poletti, Esq.

E-mail: tpoletti@manatt.com

 

and

McDermott Will & Emery LLP

340 Madison Avenue

New York, NY 10173

Attn: Robert Cohen, Esq.

E-mail: rcohen@mwe.com

 

and

A.G.P./Alliance Global Partners

590 Madison Avenue, 28th Floor

New York, NY 10022

Attn: [_]

E-mail: [_]

 

9.3. Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects by
the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the
substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising out of
or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States
District Court for the Southern District of New York. The Company hereby waives any objection that such courts represent an
inconvenient forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by
registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in
Section 9.2 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any
action, proceeding or claim. Notwithstanding the foregoing, these provisions of the warrant agreement will not apply to suits
brought to enforce any liability or duty created by the Exchange Act or any other claim for which the federal district courts of the
United States of America are the sole and exclusive forum. 

 

    11

    

    

 

9.4. Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the
registered holders of the Warrants and, for the purposes of Sections 7.4, 9.4 and 9.8 hereof, the Representative, any right, remedy, or
claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. The Representative
shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 7.4, 9.4 and 9.8 hereof. All covenants, conditions,
stipulations, promises, and agreements contained in this Warrant Agreement shall be for the sole and exclusive benefit of the parties
hereto (and the Representative with respect to the Sections 7.4, 9.4 and 9.8 hereof) and their successors and assigns and of the registered
holders of the Warrants.

  

9.5. Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent in
the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant Agent may require
any such holder to submit his Warrant for inspection by it.

 

9.6. Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

  

9.7. Effect
of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation
thereof.

 

9.8 Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity,
or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect
to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not
adversely affect the interest of the registered holders. All other modifications or amendments, including any amendment to increase the
Warrant Price or shorten the Exercise Period, shall require the written consent or vote of the registered holders of (i) a majority
of the then outstanding Public Warrants if such modification or amendment is being undertaken prior to, or in connection with, the consummation
of a Business Combination or (ii) a majority of the then outstanding Warrants if such modification or amendment is being undertaken
after the consummation of a Business Combination. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the
duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the registered holders. The provisions
of this Section 9.8 may not be modified, amended or deleted without the prior written consent of the Representative.

 

9.9 Trust
Account Waiver. The Warrant Agent acknowledges and agrees that it shall not make any claims or proceed against the trust account established
by the Company in connection with the Public Offering (as more fully described in the Registration Statement) (“Trust Account”),
including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance. In the event
that the Warrant Agent has a claim against the Company under this Agreement, the Warrant Agent will pursue such claim solely against the
Company and not against the property held in the Trust Account.

 

9.10 Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible and be valid and enforceable.

  

[Signature page follows]

 

    12

    

    

 

IN WITNESS WHEREOF, this
Agreement has been duly executed by the parties hereto as of the day and year first above written.

  

	 	LARKSPUR HEALTH ACQUISITION CORP. 
	 	 	 
	 	By:	 
	 	 	Name: Daniel J. O’Connor
	 	 	Title: Chief Executive Officer
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 

 

[Signature Page to Warrant Agreement]

 

     

    

    

 

EXHIBIT A

 

WARRANT CERTIFICATE

 

     

    

    

 

EXHIBIT B

 

LEGEND FOR PRIVATE PLACEMENT WARRANTS

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED
OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN
EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT
BY AND AMONG LARKSPUR HEALTH ACQUISITION CORP. (THE “COMPANY”), LARKSPUR HEALTH LLC, A.G.P./ALLIANCE GLOBAL
PARTNERS AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE
THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF
THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 5.6 OF THE WARRANT AGREEMENT) WHO AGREES
IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES EVIDENCED BY THIS CERTIFICATE AND SHARES
OF COMMON STOCK OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS
AGREEMENT TO BE EXECUTED BY THE COMPANY.EX-10.1

 Exhibit 10.1 
  

AMENDMENT NO. 4 TO CREDIT AGREEMENT 

This AMENDMENT NO. 4 TO CREDIT AGREEMENT (this “Amendment”), dated as of July 26, 2021, is entered into by and between
BOX, INC., a Delaware corporation (the “Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (the “Lender”), with respect to the following: 

A. The Borrower and the Lender have previously entered into that certain Credit Agreement dated as of November 27, 2017 (as amended,
restated or otherwise modified and in effect prior to the date hereof, the “Existing Credit Agreement” and as the same may be supplemented, amended, modified, amended and restated or replaced in writing from time to time and in
effect from time to time, including, but not limited to, by this Amendment, the “Credit Agreement”). 
 B. The Borrower has
requested certain amendments to the Existing Credit Agreement and the Security Agreement. 
 C. The Lender is willing to grant such request
on the terms and subject to the conditions set forth in this Amendment. 
 NOW, THEREFORE, in consideration of the mutual agreements herein
contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows: 

1. Definitions. Except as otherwise defined in this Amendment, terms defined in the Credit Agreement are used herein as defined
therein. 
 2. Amendments. On the terms and subject to the conditions of this Amendment, as of the Amendment No. 4
Effective Date: 
 (a) Credit Agreement. The Existing Credit Agreement is amended as set forth in Annex A hereto (stricken
text shall be deleted from the Credit Agreement (indicated textually in the same manner as the following example: stricken text) and double-underlined text shall be added to the Credit Agreement (indicated textually in the same manner as the following
examples: double-underlined text or double-underlined text). 

(b) Compliance Certificate. Exhibit B (Compliance Certificate) of the Credit Agreement is hereby amended and restated in its entirety
with Exhibit B attached hereto in Annex B. 
 (c) Security Agreement. Section 2.07 of the Security Agreement is hereby
amended by replacing each reference to “Schedule 5.01(n) to the Credit Agreement” with “ Schedule 5.01(m) to the Credit Agreement”. 

 3. Reaffirmation. Notwithstanding the effectiveness of this Amendment, each
Security Document, each other Loan Document, and all guarantees, pledges, grants, security interests and other agreements thereunder shall continue to be in full force and effect and the Borrower hereby reaffirms each Security Document, each other
Loan Document, and all guarantees, pledges, grants, security interests and other agreements thereunder. This Amendment shall not be a novation. This Amendment shall not release, limit nor impair in any way any security interests or liens (or the
priority thereof) held by the Lender against any assets of any Loan Party, arising under any Security Document or any other Loan Document. 

4. Representations and Warranties. The Borrower represents and warrants to the Lender as to itself and each of its Subsidiaries
(if any), that (a) the representations and warranties contained in Article V of the Credit Agreement and in the other Loan Documents are true, correct and complete in all material respects (or, in the case of any such representation or warranty
already qualified by materiality or reference to Material Adverse Effect, in all respects) on and as of the date hereof as though made on and as of the date hereof, except to the extent such representations and warranties specifically relate to an
earlier date, in which case such representations and warranties were true, correct and complete in all material respects (or, in the case of any such representation or warranty already qualified by materiality or reference to Material Adverse
Effect, in all respects) on and as of such earlier date and (b) no Event of Default or Potential Event of Default has occurred and is continuing. 

5. Conditions Precedent to the Effectiveness of this Amendment. The effectiveness of the provisions of Section 2 of
this Amendment is conditioned upon, and such provisions shall not be effective until, satisfaction of the conditions set forth below (the first date on which such conditions have been satisfied being referred to herein as the “Amendment
No. 4 Effective Date”): 
 (a) The Lender shall have received the following, each in form and substance satisfactory to the
Lender in its sole discretion: 
 (i) executed copies of this Agreement, an amended and restated Note and the Disclosure Letter; 

(ii) a copy of the certificate of incorporation of the Borrower, certified as of a recent date by the Secretary of State of the State of
Delaware; 
 (iii) a copy of the bylaws of the Borrower, certified by the Secretary or an Assistant Secretary or other authorized person of
the Borrower; 
 (iv) a copy of resolutions of the Board of Directors or other authorizing documents of the Borrower approving the Loan
Documents and the Borrowings thereunder; 
 (v) an incumbency certificate executed by the Secretary or an Assistant Secretary or other
authorized person of the Borrower or equivalent document, certifying the names and signatures of the officers of the Borrower or other Persons authorized to sign the Loan Documents and the other documents to be delivered hereunder; 

  
 2 

 (vi) a certificate from the Chief Financial Officer of the Borrower certifying the matters
set forth in Section 4; 
 (vii) a certificate of good standing or its equivalent and evidence of good standing as to payment of
any applicable franchise or similar taxes with respect to the Borrower from the Secretary of State of the State of Delaware; 
 (viii)
evidence that all governmental, regulatory and other third party consents and approvals required in connection with the Loan Documents and the Borrowings thereunder have been obtained and are in full force and effect; 

(ix) a favorable opinion or opinions of counsel for the Borrower addressing issues under California and Delaware law, dated the Amendment
No. 4 Effective Date; 
 (x) a certificate from the Chief Financial Officer of the Borrower or other authorized officer with knowledge
of the financial position of the Borrower dated the Amendment No. 4 Effective Date certifying as to the matters set forth in Section 5.01(p) of the Credit Agreement as to Solvency; and 

(xi) such documentation and other information that the Lender requests as to the Borrower in order to comply with its ongoing due diligence
pursuant to regulatory requirements and its internal policies, including its obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act. 

(b) The Lender shall have received all fees and other amounts due and payable on or prior to the Amendment No. 4 Effective Date,
including, to the extent invoiced at least two (2) Business Days prior to the Amendment No. 4 Effective Date, reimbursement or payment of all reasonable and documented out-of-pocket costs and expenses required to be reimbursed or paid by
the Borrower under any Loan Document. 
 6. Miscellaneous. 

(a) The Borrower acknowledges that all reasonable and documented out-of-pocket costs and expenses of the Lender (including reasonable and
documented out-of- pocket attorneys’ fees and costs) in connection with the preparation, negotiation, execution and delivery of this Amendment and the related Loan Documents will be paid by the Borrower in accordance with
Section 8.05 of the Credit Agreement. 
 (b) References in the Credit Agreement (including references to the Credit Agreement as
amended hereby) to “this Agreement” (and indirect references such as “hereunder”, “hereby”, “herein” and “hereof”) shall be deemed to be references to the Credit Agreement as amended hereby.
References in the Security Agreement to “this Agreement” (and indirect references such as “hereunder”, “hereby”, “herein” and “hereof”) shall be deemed to be references to the Security Agreement as
amended hereby. 

  
 3 

 (c) This Amendment shall constitute a Loan Document for purposes of the Credit Agreement
and the other Loan Documents, and except as specifically modified by this Amendment, the Credit Agreement and the other Loan Documents shall remain unchanged and unwaived and shall remain in full force and effect and are hereby ratified and
confirmed. 
 (d) The execution, delivery and performance of this Amendment shall not constitute a forbearance, waiver, consent or amendment
of any other provision of, or operate as a forbearance or waiver of any right, power or remedy of the Lender under the Credit Agreement or any of the other Loan Documents, all of which are ratified and reaffirmed in all respects and shall continue
in full force and effect. 
 (e) This Amendment shall be governed by, and construed in accordance with, the laws of the State of California
without giving effect to its choice of law principles which would result in the application of the law of another jurisdiction. 
 (f) This
Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same
agreement. Delivery of an executed counterpart of this Amendment by facsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Amendment. This Amendment may be executed
in any number of identical counterparts, any set of which signed by all the parties hereto shall be deemed to constitute a complete, executed original for all purposes. Transmission by facsimile, “pdf” or similar electronic copy of an
executed counterpart of this Amendment shall be deemed to constitute due and sufficient delivery of such counterpart. Any party hereto may request an original counterpart of any party delivering such electronic counterpart. The words
“execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Amendment or any document to be signed in connection with this Amendment and the transactions contemplated hereby
shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the
use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and
Records Act, or any other state laws based on the Uniform Electronic Transactions Act, and the parties to this Amendment consent to conduct the transactions contemplated hereunder by electronic means. 

(g) This Amendment, the Credit Agreement and the other Loan Documents embody the entire agreement and understanding by and among the parties
hereto and thereto relating to the subject matter hereof and thereof and supersedes any and all prior agreements and understandings, oral or written, relating to the subject matter hereof and thereof. 

(h) In case any one or more of the provisions contained in this Amendment should be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. Section headings in this Amendment are included for convenience of reference only and shall not be given any
substantive effect. 

  
 4 

 (i) This Amendment is a Loan Document as defined in the Credit Agreement, and the expense
reimbursement, indemnification, waiver of jury trial, consent to jurisdiction and other provisions of the Credit Agreement generally applicable to Loan Documents are applicable hereto and incorporated herein by this reference and this Amendment
shall be interpreted, construed and enforced as if all such provisions were set forth in full in this Amendment. 

  
 5 

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

			
	BOX, INC.
		
	By:	 	 /s/ Eli Berkovitch

	Name:	 	Eli Berkovitch
	Title:	 	Chief Accounting Officer
		
	By:	 	 /s/ Dylan Smith

	Name:	 	Dylan Smith
	Title:	 	Chief Financial Officer

  
 [Signature Page to
Amendment No. 4 to Credit Agreement] 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Travis Padgett

	Name:	 	Travis Padgett
	Title:	 	Senior Vice President

  
 [Signature Page to
Amendment No. 4 to Credit Agreement] 

 Annex A 

Conformed Credit Agreement 
 (see
attached) 

 Conformed
through Amendment No. 3 dated as of April 17, 2020 
 CREDIT
AGREEMENT 
 between 
 BOX, INC.

 and 
 WELLS FARGO BANK,
NATIONAL ASSOCIATION 
 Date as of November 27, 2017 

 TABLE OF CONTENTS 
  

					
	 	  	Page	 
	 ARTICLE I. DEFINITIONS
	  	 	1	 
	 Section 1.01 Defined Terms
	  	 	1	 
	 Section 1.02 Other Definitional Provisions
	  	 	1923	 
	 Section 1.03 Divisions
	  	 	2024	 
	 Section
1.04 Limited Condition Transactions
	  	 	24	 
	 ARTICLE II. THE LOANS
	  	 	2025	 
	 Section 2.01 The Loans
	  	 	2025	 
	 Section 2.02 Repayment
	  	 	2227	 
	 Section 2.03 Interest Payment Dates and Interest Rate
	  	 	2227	 
	 Section 2.04 Continuation; Conversion
	  	 	2228	 
	 Section 2.05 Fees
	  	 	2328	 
	 Section 2.06 Cash Collateralization
	  	 	2329	 
	 ARTICLE III. GENERAL PROVISIONS CONCERNING THE LOANS
	  	 	2429	 
	 Section 3.01 Use of Proceeds
	  	 	2429	 
	 Section 3.02 Default Interest
	  	 	2429	 
	 Section 3.03 Computation of Interest
	  	 	2430	 
	 Section 3.04 Payments
	  	 	2530	 
	 Section 3.05 Delay in Requests
	  	 	2530	 
	 Section 3.06 Reduced Return
	  	 	2530	 
	 Section 3.07 Funding Losses
	  	 	2531	 
	 Section 3.08 Inability to Determine Interest Rate
	  	 	2631	 
	 Section 3.09 Requirements of Law
	  	 	2634	 
	 Section 3.10 Illegality
	  	 	2735	 
	 Section 3.11 Taxes
	  	 	2735	 
	 Section 3.12 Effect of
Benchmark Transition Event
	  	 	38	 
	 ARTICLE IV. CONDITIONS OF LENDING
	  	 	3341	 
	 Section 4.01 Conditions Precedent to Credit Facility
	  	 	3341	 
	 Section 4.02 Conditions Precedent to Each Borrowing
	  	 	3644	 
	 Section 4.03 Post Closing Conditions
	  	 	3644	 
	 ‘ARTICLE V. REPRESENTATIONS AND WARRANTIES
	  	 	3745	 

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 Section 5.01 Representations and Warranties
	  	 	3745	 
	 ARTICLE VI. COVENANTS
	  	 	4251	 
	 Section 6.01 Affirmative Covenants
	  	 	4251	 
	 Section 6.02 Negative Covenants
	  	 	4857	 
	 Section 6.03 Financial Covenants
	  	 	5869	 
	 ARTICLE VII. EVENTS OF DEFAULT
	  	 	5869	 
	 Section 7.01 Events of Default
	  	 	5869	 
	 ARTICLE VIII. MISCELLANEOUS
	  	 	6172	 
	 Section 8.01 Amendments, Etc.
	  	 	6172	 
	 Section 8.02 Notices, Etc.
	  	 	6172	 
	 Section 8.03 Right of Set-off
	  	 	6172	 
	 Section 8.04 No Waiver; Remedies
	  	 	6273	 
	 Section 8.05 Costs and Expenses
	  	 	6273	 
	 Section 8.06 Indemnity
	  	 	6273	 
	 Section 8.07 Assignments and Participations
	  	 	6374	 
	 Section 8.08 Limitation on Payments
	  	 	6374	 
	 Section 8.09 Disclosure of Information
	  	 	6475	 
	 Section 8.10 Limitation of Liability
	  	 	6475	 
	 Section 8.11 Effectiveness; Binding Effect; Governing Law
	  	 	6475	 
	 Section 8.12 Waiver of Jury Trial
	  	 	6475	 
	 Section 8.13 Consent to Jurisdiction; Venue
	  	 	6576	 
	 Section 8.14 Entire Agreement
	  	 	6576	 
	 Section 8.15 Separability of Provisions; Headings
	  	 	6576	 
	 Section 8.16 Execution in Counterparts; Etc.
	  	 	6576	 
	 Section 8.17 USA Patriot Act
	  	 	6677	 
	 Section 8.18 English Language
	  	 	6677	 
	 Section 8.19 Service of Process
	  	 	6677	 
	 Section 8.20 Acknowledgement and Consent to Bail-In of
EEAAffected Financial Institutions
	  	 	6677	 
	 Section 8.21 Acknowledgement Regarding Any Supported QFCs
	  	 	6678	 
	 Section 8.22
Hedge Agreements
	  	 	79	 

  
 ii 

 CREDIT AGREEMENT 

This Credit Agreement dated as of November 27, 2017 (as supplemented, amended, modified, amended and restated or replaced in writing from
time to time, this “Agreement”), is entered into by and between BOX, INC., a Delaware corporation (the “Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (the “Lender”). 

RECITALS 
 WHEREAS, the
Borrower has requested that the Lender make available loans and other financial accommodations to the Borrower; and 
 WHEREAS, the Lender
has agreed to make available such loans and other financial accommodations on the terms and subject to the conditions set forth herein; 

NOW THEREFORE, in consideration of the mutual agreements contained herein, the parties hereto agree as follows: 

ARTICLE I. 
 DEFINITIONS

 Section 1.01 Defined Terms. As used in this Agreement, the following terms have the following meanings: 

“Accounts Receivable”: All accounts (as that term is defined in the UCC). “Affiliate”: As applied to any
Person, any other Person directly or indirectly controlling, controlled by, or under common control with, that Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms
“controlling”, “controlled by” and “under common control with”), as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of
that Person, whether through the ownership of voting securities or by contract or otherwise. 
 “Agreement”: As defined in
the introductory paragraph of this Agreement. 

“Applicable Margin”: For
any day, (i) 0.25% in the case of Prime Rate Loans and (ii) 1.00% in the case of LIBOR Loans. 

“Anti-Corruption
 Laws”: All laws, rules, and regulations of any jurisdiction from time to time concerning or relating
to bribery or corruption, including the United States Foreign Corrupt Practices Act of 1977
and the rules and regulations thereunder and the U.K. Bribery Act 2010 and the rules and regulations thereunder. 

“Anti-Money
 Laundering Laws”: Any and all laws, statutes, regulations or obligatory government orders, decrees, ordinances or rules related to terrorism financing, money laundering, any predicate crime to money laundering or any financial record keeping,
including any applicable provision of the PATRIOT Act and The Currency and Foreign Transactions
Reporting Act (also known as the “Bank Secrecy Act,” 31 U.S.C. §§ 5311-5330 and 12 U.S.C.
§§ 1818(s), 1820(b) and 1951-1959). 

“Amendment
 No. 4 Effective Date”: July 26, 2021. 
 “Applicable Margin”: For any day, the corresponding percentages per annum as set forth below based on the Senior
Secured Leverage Ratio: 
  

							
	Pricing Level	  	Senior Secured Leverage Ratio	  	Prime Rate Loans
	 	LIBOR Loans

	
I
	  	Less than 1.25 to 1.00	  	0.150%	 	1.150%
	
II
	  	Greater than or equal to 1.25 to 1.00, but less than 2.25 to 1.00	  	0.40%	 	1.40%
	
III
	  	Greater than or equal to 2.25 to 1.00, but less than 3.00 to 1.00	  	0.65%	 	1.65%

The Applicable Margin shall
be determined and adjusted quarterly on the date five (5) Business Days after the day on which the Borrower provides a Compliance Certificate pursuant to
Section 6.01(b)(iii) for the most recently completed Fiscal Quarter of the Borrower (each such date, a
“Calculation Date”); provided that (a) the Applicable Margin shall be based on Pricing Level
I until the first Calculation Date occurring after the Amendment No. 4 Effective Date and, thereafter
the Pricing Level shall be determined by reference to the Senior Secured Leverage Ratio as of the last day
of the most recently completed Fiscal Quarter of the Borrower preceding the applicable Calculation Date, and
(b) if the Borrower fails to provide a Compliance Certificate when due as required by Section 6.01(b)(iii) for the most recently completed Fiscal Quarter of the Borrower preceding the applicable Calculation Date, the Applicable Margin from
the date on which such Compliance Certificate was required to have been delivered shall be based on Pricing Level III until such time as such Compliance Certificate is delivered, at which time the Pricing Level shall be determined by reference to
the Senior Secured Leverage Ratio as of the last day of the most recently completed Fiscal Quarter of the Borrower preceding such Calculation Date. The applicable Pricing Level shall be effective from one Calculation Date until the next Calculation Date. Any adjustment in the Pricing Level shall be applicable to all extensions of credit then existing or
subsequently made or issued. 
 Notwithstanding the foregoing, in the event that any financial statement or Compliance Certificate delivered pursuant to Section 6.01(a) or Section 6.01(b)(iii) is shown to be inaccurate (regardless of
whether (i) this Agreement is in effect, (ii) any Commitments are in effect, or (iii) any
extension of credit is outstanding when such inaccuracy is discovered or such financial
statement or Compliance Certificate was delivered), and such inaccuracy, if corrected, would have led to the application of a higher Applicable Margin for any period (an “Applicable Period”) than the
Applicable Margin applied for such Applicable Period, then (A) the Borrower shall promptly (and in any case within five (5) Business Days) deliver to the Lender a corrected Compliance Certificate for such Applicable Period, (B) the
Applicable Margin for such 

  
 2 

 
Applicable Period shall be determined as if the Senior
Secured Leverage Ratio in the corrected Compliance Certificate were applicable for such Applicable Period, and (C) the Borrower
shall promptly (and in any case within five (5) Business Days) and retroactively be obligated to pay
to the Lender the accrued additional interest and fees owing as a result of such increased Applicable Margin
for such Applicable Period, which payment shall be promptly applied by the Lender in accordance with
Section 3.04. Nothing in this paragraph shall limit the rights of the Lender with respect to Sections
3.02 and 7.01 nor any of its other rights under this Agreement or any other Loan Document. The
Borrower’s obligations under this paragraph shall survive the termination of the Commitments and the repayment of all other Obligations hereunder. 

“Applicable Reserve Requirement”: At any time, for any Loan, the maximum rate, expressed as a decimal, at which reserves are
required to be maintained with respect thereto against “Eurocurrency liabilities” (as such term is defined in Regulation D of the Board) under regulations issued from time to time by the Board or other applicable banking regulator. Without
limiting the effect of the foregoing, the Applicable Reserve Requirement shall reflect any other reserve required by the Board to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by
reference to which the applicable LIBOR or any other interest rate of a Loan is determined or (ii) any category of extensions of credit or other assets which include Loans. A Loan shall be deemed to constitute Eurocurrency liabilities and as
such shall be deemed subject to reserve requirements without benefits of credit for proration, exceptions or offers that may be available from time to time to the Lender. The rate of interest on LIBOR Loans shall be adjusted automatically on and as
of the effective date of any change in the Applicable Reserve Requirement. 
 “Average Deferred Revenue Change”: The average
Deferred Revenue Change calculated based upon each of the four Fiscal Quarters in any trailing twelve -month period. 
 “Bail-In
Action”: The exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution
Authority in respect of any liability of an
EEAAffected
 Financial Institution. 
 “Bail-In Legislation”: (a) With respect to any EEA Member Country implementing Article 55
of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing
law, regulation, rule or requirement for such EEA Member
Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to
the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other
financial institutions or their affiliates (other than through liquidation, administration or other
insolvency proceedings). 
 “Bankruptcy Code”: Title 11 of the
United States Code entitled “Bankruptcy”, as now and hereafter in effect, or any successor statute. 
 “Beneficial
Ownership Certification”: A certification regarding beneficial ownership as required by the Beneficial Ownership Regulation. 

  
 3 

 “Beneficial Ownership Regulation”: 31 C.F.R. § 1010.230. 

“Board”: The Board of Governors of the Federal Reserve System and any successor thereto. 

“Borrower”: As defined in the introductory paragraph of this Agreement. 

“Borrowing”: As defined in Section 2.01(b). 

“Business Day”: A day other than a Saturday, Sunday or a day on which commercial banks in California are authorized or
required by law to close. 
 “Capital Expenditures”: As to any Person, expenditures (including expenditures with respect to
Capital Leases) made by such Person to acquire or construct fixed assets, plants and equipment (including renewals, improvements and replacements, but excluding repairs unless such repairs are required to be capitalized in accordance with GAAP).

 “Capital Lease”: As applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as
lessee that, in conformity with GAAP, is accounted for as a capital lease on the balance sheet of that Person. 
 “Cash
Collateralize”: To pledge and deposit with or deliver to the Lender, as collateral, an amount (whether in cash or deposit account balances or in the form of a standby letter of credit in form and substance reasonably satisfactory to, and
issued by a United States commercial bank reasonably acceptable to, the Lender in its commercially reasonable discretion) pursuant to documentation in form and substance reasonably satisfactory to the Lender. “Cash Collateral” shall
have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. 

“Cash Equivalents”: 

(i) Direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United
States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of issuance thereof; 

(ii) investments in commercial paper maturing within 270 days from the date of issuance thereof and having, at such date of
acquisition, a rating of at least “Prime 1” (or the then equivalent grade) by Moody’s or “A-1” (or the then equivalent grade) by S&P; 

(iii) investments in certificates of deposit, banker’s acceptances and time deposits maturing within one year from the
date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, the Lender or any domestic office of any commercial bank organized under the laws of the United States of America or any
State thereof that has a combined capital and surplus and undivided profits of not less than $500,000,000 and that issues (or the parent of which issues) commercial paper rated at least “Prime 1” (or the then equivalent grade) by
Moody’s or “A-1” (or the then equivalent grade) by S&P; 

  
 4 

 (iv) fully collateralized repurchase agreements with a term of not more than
30 days for securities described in clause (i) above and entered into with a financial institution satisfying the criteria of clause (iii) above; 

(v) investments in “money market funds” within the meaning of Rule 2a-7 of the Investment Company Act of 1940, as
amended, substantially all of whose assets are invested in investments of the type described in clauses (i) through (iv) above; 

(vi) other short-term investments utilized by Foreign Subsidiaries in accordance with normal investment practices for cash
management in investments of a type analogous to the foregoing; and 
 (vii) investments described on Schedule
1.01(a)(i) to the Disclosure Letter and other investments approved by the Lender. 
 “Cash Management Obligations”:
With respect to any Person, all liabilities of such Person under any agreement to provide cash management services, including treasury, depositary, overdraft, credit or debit card, electronic funds transfer and other cash management agreements. 

“CFC”: A controlled foreign corporation within the meaning of Section 957(a) of the Internal Revenue Code. 

“Change in Control”: Shall be deemed to have occurred if (i) any “person” or “group” (within the
meaning of Rule 13d-5 of the Exchange Act, as in effect on the date hereof), other than the Permitted Investors, shall own, directly or indirectly, beneficially or of record, shares representing more than 35% of the aggregate ordinary voting power
represented by the issued and outstanding Equity Interests of the Borrower, or (ii) any change in control (or similar event, however denominated) with respect to the Borrower or any Subsidiary shall occur under and as defined in any indenture
or agreement in respect of any Debt in an aggregate principal amount exceeding $5,000,00010,000,000 to which the Borrower or any Subsidiary is a party.

 “Change in Law”: The occurrence, after the date of this Agreement, of any of the following: (i) the adoption
or taking effect of any law, rule, regulation or treaty, (ii) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any governmental authority, central bank or
comparable entity charged with the interpretation or administration thereof, or (iii) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any governmental authority, central bank or
comparable entity charged with the interpretation or administration thereof; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or
directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar
authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued. 

  
 5 

 “Chief Financial Officer”: The chief financial officer (or equivalent
Person) of Borrower. 
 “Closing Date”: The date on which all conditions precedent set forth in Section 4.01 have been
satisfied or waived by the Lender. 
 “Collateral”: The collective reference to the “Collateral” as defined in
the Security Agreement and any other collateral pledged to the Lender pursuant to a Loan Document. 
 “Commitment”: The
commitment of the Lender to make Loans to the Borrower pursuant to Section 2.01(a). The amount of the Lender’s Commitment as of July 12,
2019the Amendment No. 4 Effective Date is
$100,000,00065,000,000
. 

“Commitment
 Fee”: As defined in Section 2.05(a). 
 “Commodity Exchange
Act”: The Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute. 

“Compliance Certificate”: A certificate substantially in the form of Exhibit B hereto. 

“Connection Income Taxes”: Other Connection Taxes that are imposed on or measured by net income (however denominated) or that
are franchise Taxes or branch profits Taxes. 
 “Consolidated Net Income (or Deficit)”: The consolidated net income (or
deficit) of any Person and its Subsidiaries, after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP, after eliminating therefrom all extraordinary or nonrecurring items of income and without giving effect to (x) the cumulative effect of a change in accounting principles and (y) purchase accounting adjustments.

 “Consolidated Total Interest Expense”: With respect to any Person for any period, the aggregate amount of
interest required to be paid or accrued by a Person and its Subsidiaries during such period on all indebtedness of such Person and its Subsidiaries outstanding during all or any part of such period, whether such interest was or is required to be
reflected as an item of expense or capitalized, including payments consisting of interest in respect of any capitalized lease or any synthetic lease, and including commitment fees, agency fees, facility fees, balance deficiency fees and similar fees
or expenses in connection with the borrowing of money. 
 “Convertible Debt Securities”: Unsecured Debt of the Borrower
that is convertible into (a) Qualified Equity Interests of the Borrower (or other securities or property following a merger event, reclassification or other change of such Qualified Equity Interests) and cash in lieu of fractional shares,
(b) cash (in an amount determined by reference to the price of such Qualified Equity Interests or such other securities or property) or (c) a combination of the foregoing. 

  
 6 

 “Cost Sharing Agreement”: Cost Sharing Agreement dated as of June 25,
2013 between Borrower and Box Intl Technology Ltd., as amended on October 15, 2015, as may be amended from time to time. 

“Debt”: As applied to any Person, without duplication, (i) all indebtedness for borrowed money and all obligations
evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (ii) that portion of obligations with respect to Capital Leases which is properly classified as a liability on a balance sheet in conformity with GAAP,
(iii) notes payable representing extensions of credit whether or not representing obligations for borrowed money, (iv) any obligation owed for all or any part of the deferred purchase price of property or services (excluding (a) trade
accounts payable incurred in the ordinary course of business not more than ninety (90) days past due, or that are currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity with GAAP have
been provided for on the books of such Person, (b) earnout payments (other than, for the avoidance of doubt, earnout payments payable solely in
QualifiedDisqualified Equity Interests of the
Borrower) , and (c) any accruals for payroll and other
non-interest bearing liabilities accrued in the ordinary course of business and (d) any obligations in respect of operating leases) which purchase price is (y) due more than six months from the date of incurrence of the obligation in respect thereof or (z) evidenced by a note or similar written instrument, (v) all indebtedness for
borrowed money secured by any Lien on any property owned or held by that Person regardless of whether the indebtedness for borrowed money secured thereby shall have been assumed by that Person or is nonrecourse to the credit of that Person
(excluding any obligations in respect of operating leases), (vi) all obligations, contingent or otherwise, with respect to the face amount of all letters of credit (whether drawn or undrawn), bankers’ acceptances or similar obligations issued
for the account of such Person, (vii) all swap and related hedging arrangements (including the Hedging Obligations) of such Person valued at the net termination value thereof, (viii) all obligations of such person in respect of
Disqualified Equity Interests, and (ix) any Guaranty of such Person in respect of any Debt of any other Person described in clauses (i) through (viii) above. 

“Deferred Revenue”: All amounts received or invoiced in advance of performance under contracts and not yet recognized as
revenue, as determined in accordance with GAAP. 
 “Deferred Revenue Change”: Any change in Deferred Revenue as of the last
day of a Fiscal Quarter as compared to Deferred Revenue for the last day of the same Fiscal Quarter in the prior Fiscal Year. 

“Disclosure Letter”: That certain disclosure letter dated as of the date hereofAmendment
No. 4 Effective Date delivered by the Borrower to the Lender, as may be updated from time to time in accordance with the terms of this Agreement and the other Loan Documents. 

“Disposition”: As defined in Section 6.02(f). 

  
 7 

 “Disqualified Equity Interests”: Any Equity Interests that, by their terms
(or by the terms of any security or other Equity Interest into which they are convertible or for which they are exchangeable) or upon the happening of any event or condition, (i) mature or are mandatorily redeemable (other than solely for Qualified Equity Interests and payments of cash in lieu of issuing factional shares of Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a
change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitment), (ii) are redeemable at the option of the holder
thereof (other than solely for Qualified Equity Interests and payments of cash in lieu of issuing factional
shares of Qualified Equity Interests) (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale
event shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitment), in whole or in part, (iii) provide for the scheduled payment of dividends in cash
or (iv) are or become convertible into or exchangeable for Debt or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is 91 days after the Maturity Date; provided that if such
Equity Interests are issued pursuant to a plan for the benefit of Borrower or its Subsidiaries or by any such plan to their respective employees or independent contractors, such Equity Interests shall not constitute Disqualified Equity Interests
solely because they may be required to be repurchased by Borrower or its Subsidiaries in order to satisfy applicable statutory or regulatory obligations.
For the avoidance of doubt, the payment of cash in lieu of fractional shares in connection with any conversion
of the Borrower’s Series A Convertible Preferred Stock to common stock shall not cause such Series A
Convertible Preferred Stock to constitute Disqualified Equity Interests.  
 “Dollars” and “$”: The lawful currency of the United States
of America. 
 “Domestic Subsidiary”: Each Subsidiary that is organized under the laws of the United States, any state,
territory, protectorate or commonwealth thereof or the District of Columbia. 
 “EBITDA”: With respect to any period an
amount equal to the sum of (a) Consolidated Net Income of the Borrower and its Subsidiaries for such period, plus (b) in each case to the extent deducted in the calculation of the Borrower’s Consolidated Net Income and without
duplication, (i) depreciation and amortization for such period, plus (ii) provision (benefit) for income tax for such period, plus (iii) Consolidated Total Interest Expense paid or accrued during such period, plus (iv) non-cash
expenses, losses and charges, including, without limitation, non-cash compensation-based expenses, plus (v) all extraordinary, unusual or non-recurring expenses, losses and charges for such period, including , without limitation, restructuring
charges, including, without
limitations,and costs, fees and expenses incurred
by Borrower or its Subsidiaries in connection with any Permitted Acquisition, permitted Investment, permitted
disposition, incurrence of permitted Debt or issuance of Qualified Equity Interests, in each case whether or not consummated, plus (vi) any other expenses, losses or charges agreed to by the
Lender, plus or minus (c) the Average Deferred Revenue Change, all as determined in accordance with GAAP. 

  
 8 

 “EEA Financial Institution”: (a) anyAny credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a
parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition
and is subject to consolidated supervision with its parent;.  
 “EEA Member Country”: Any of the member
states of the European Union, Iceland, Liechtenstein, and Norway. 
 “EEA Resolution Authority”: Any public administrative
authority or any
personPerson entrusted with public administrative
authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Eligible Accounts
Receivable”: Bona fide trade Accounts Receivable created in the ordinary course of the Borrower’s consolidated business, evidenced by an invoice rendered to the account debtor, upon which the Borrower’s (on a consolidated
basis) right to receive payment is absolute and not contingent upon the fulfillment of any condition whatsoever (other than with respect to prepaid subscription fees received by the Borrower (on a consolidated basis), which fees shall be deemed to
be Eligible Accounts Receivable to the extent that the corresponding customer agreements pursuant to which such fees arise and the Borrower (on a consolidated basis) renders services remain in full force and effect and no notice of termination has
been given under such agreements), and in which the Lender has a perfected security interest of first priority, and in each case, classified as a “current asset” in accordance with GAAP, and shall not include any Account Receivable that
has been outstanding more than 60 days past due.credit institution or investment firm established in
any EEA Member Country. 
 “Environmental Laws”: Any and all
current or future statutes, ordinances, orders, rules, regulations, guidance documents, judgments, governmental authorizations, or any other requirements of governmental authorities relating to (i) environmental matters or
(ii) occupational safety and health, industrial hygiene, land use or the protection of human, plant or animal health or welfare, in any manner applicable to any Loan Party or any of its Subsidiaries. 

“Environmental Permit”: Any permit, approval, identification number, license or other authorization required under any
Environmental Law. 
 “Equity Interests”: (i) All shares of capital stock (whether denominated as common stock or
preferred stock), equity interests, beneficial, partnership or membership interests, joint venture interests, participations or other ownership or profit interests in or equivalents (regardless of how designated) of or in a Person (other than an
individual), whether voting or non-voting, and (ii) all securities convertible into or exchangeable for any of the foregoing and all warrants, options or other rights to purchase, subscribe for or otherwise acquire any of the foregoing, whether
or not presently convertible, exchangeable or exercisable; provided that Equity Interests shall not include Convertible Debt Securities (irrespective of whether the Convertible Debt Securities are settled in Qualified Equity Interests, cash
or a combination thereof). 

  
 9 

 “ERISA”: The Employee Retirement Income Security Act of 1974, as amended
from time to time, and any successor statute. 
 “EU Bail-In Legislation Schedule”: The EU Bail-In Legislation Schedule
published by the Loan Market Association (or any successor
personthereto
), as in effect from time to time. 
 “Event of Default”: As defined in
Section 7.01. 
 “Exchange Act”: The Securities Exchange Act of 1934, as amended from time to time, and any successor
statute. 
 “Excluded Taxes”: Any of the following Taxes imposed on or with respect to the Lender or required to be
withheld or deducted from a payment to the Lender: (i) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (a) imposed as a result of the Lender being organized under
the laws of, or having its principal office or its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (b) that are Other Connection Taxes, (ii) Federal withholding Taxes
imposed on amounts payable to or for the account of the Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (a) the Lender acquires such interest in the Loan or Commitment or
(b) the Lender changes its lending office, except in each case to the extent that, pursuant to Section 3.11, amounts with respect to such Taxes were payable either to the Lender’s assignor immediately before the Lender became a party
hereto or to the Lender immediately before it changed its lending office, (iii) Taxes attributable to such recipient’s failure to comply with Section 3.11(f), and (iv) any Federal withholding Taxes under FATCA. 

“Excluded Swap Obligation”: With respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion
of the guaranty of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the
Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity
Exchange Act and the regulations thereunder at the time the guaranty of such Guarantor or the grant of such security interest becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more
than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such guaranty or security interest is or becomes illegal. 

“Existing Credit Agreement”: The Credit Agreement dated as of December 4, 2015 among the Borrower, the Existing Lender,
as administrative agent, collateral agent and lender, and the other lenders party thereto (as amended, supplemented or otherwise modified from time to time). 

“Existing Lender”: HSBC Bank USA, National Association, a national banking association. 

  
 10 

 “FATCA”: Sections 1471 through 1474 of the Internal Revenue Code, as of the
date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into
pursuant to Section 1471(b)(1) of the Internal Revenue Code. 

“FCPA”: As defined in
Section 5.01(y). 
 “Fiscal Quarter”: A fiscal quarter of
any Fiscal Year. 
 “Fiscal Year”: The fiscal year of the Borrower ending on January 31 of each year. 

“Foreign Subsidiary”: Any Subsidiary that is organized under the laws of any jurisdiction other than the United States, any
state, territory, protectorate or commonwealth thereof or the District of Columbia. 
 “GAAP”: Generally accepted
accounting principles, standards and practices in the United States, applied on a consistent basis. 
 “Grantor”: As defined in the Security Agreement.  

“Guarantor”: Each Domestic Subsidiary (other than a Domestic Subsidiary of a Foreign Subsidiary that is a CFC) that is a
Material Subsidiary (or, at the election of the Borrower, any other Subsidiary) that is or becomes a party to a Subsidiary Guarantee. 

“Guaranty”: As to any Person, (i) any obligation, contingent or otherwise, of such Person guaranteeing or having the
economic effect of guaranteeing any Debt or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect,
(a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Debt or other obligation, (b) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Debt or
other obligation of the payment or performance of such Debt or other obligation, (c) to maintain working capital, equity capital or any other financial statement or condition or liquidity or level of income or cash flow of the primary obligor
so as to enable the primary obligor to pay such Debt or other obligation, or (d) entered into for the purpose of assuring in any other manner the obligee in respect of such Debt or other obligation of the payment or performance thereof or to
protect such obligee against loss in respect thereof (in whole or in part), or (ii) any Lien on any assets of such Person securing Debt or other obligation of any other Person, whether or not such Debt or other obligation is assumed by such
Person (or any right, contingent or otherwise, of any holder of such Debt to obtain any such Lien). The amount of any Guaranty shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion
thereof, in respect of which such Guaranty is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. Notwithstanding anything herein to the
contrary, the term “Guaranty” shall not include endorsements for collection or deposit, in either case in the ordinary course of business, or customary and reasonable indemnity obligations (A) in effect on the Closing Date,
(B) entered into in connection with any acquisition or 

  
 11 

 disposition of assets permitted under this Agreement (other than such obligations with respect to Debt), or
(C) set forth in customer or vendor agreements entered into by the Borrower or any Subsidiary in the ordinary course of business consistent with past practices (other than such obligations with respect to Debt). 

“Hazardous Materials”: All chemicals, materials, substances, wastes, pollutants, contaminants, compounds, in any form,
including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas or mold, subject to regulation under or which give rise to liability pursuant to any Environmental Law. 

“Hedge Agreement”: (i) Any and all agreements in respect of rate swaps, basis swaps, credit derivative transactions,
forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index
transactions, interest rate options, forward foreign exchange transactions, cap or floor transactions, collar transactions, currency-swaps, cross-currency rate swaps, currency options, spot contracts or any similar transactions or any combinations
of the foregoing (including any options to enter into any of the foregoing), whether or not any such transactions is governed by or subject to any master agreement, and (ii) any and all agreements which are governed by, or subject to the terms
and conditions of, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement or any other master agreement. For the avoidance of doubt, the following
shall not be deemed a “Hedge Agreement”: (a) any agreement related to incentive stock, restricted stock, restricted stock units, stock options, phantom stock or similar agreements entered into with current or former directors,
officers, employees or consultants of the Borrower, (b) any stock option or warrant agreement for the purchase of Equity Interests of the Borrower, (c) the purchase of Equity Interests of Borrower pursuant to delayed delivery contracts or other
similar agreements, or (d) a Permitted Call Hedging Agreement. 
 “Hedging Obligations”: With respect to any Person,
all net liabilities of such Person under any Hedge Agreement. 
 “Indemnified Liabilities”: As defined in
Section 8.06. 
 “Indemnified Parties”: As defined in Section 8.06. 

“Indemnified Taxes”: (i) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on
account of any obligation of the Borrower under any Loan Document and (ii) to the extent not otherwise described in the preceding clause (i), Other Taxes. 

“Interest
 Coverage Ratio”: At any date of determination, the ratio of (a) EBITDA of the Borrower and its Subsidiaries for the period of four consecutive Fiscal Quarters ending on or most recently ended prior to such date for which financial
statements are available, to (b) Consolidated Total Interest Expense of the Borrower and its Subsidiaries for the period of four consecutive Fiscal Quarters ending on or most recently ended prior to such date for which financial statements are
available. 

  
 12 

 “Interest Payment Date”: As to any LIBOR Loan with an Interest Period of
three months or less, the last day of such Interest Period and the Maturity Date; and as to any LIBOR Loan with an Interest Period in excess of three months, (i) each day prior to the last day of such Interest Period that occurs at intervals of
three months following the beginning of such Interest Period, (ii) the last day of such Interest Period and (iii) the Maturity Date; and as to any Prime Rate Loan, the last day of each calendar quarter, commencing on the first such date to
occur after such Prime Rate Loan is made, and the Maturity Date. 
 “Interest Period”: With respect to any LIBOR Loan: 

(i) initially, the(a) Initially means a period commencing on, as the case may be, the Borrowing date with respect to such LIBOR
Loan a Business Day and endingcontinuing
for one, three or six months thereafter,
as
selecteddesignated by the Borrower in its notice
of Borrowing as provided in Section 2.01(b); and 

(ii) thereafter, each period commencing on (a) in the
case of a continuation of a LIBOR Loan, the last day of the next preceding Interest Period, during
which all or a portion of the outstanding principal balance of the applicable
Loan bears interest determined in relation to such LIBOR Loan and
(b) in the case of a conversion to a LIBOR Loan, the effective date of such conversion, and in each case, ending one, three or six months thereafter
as selected by the Borrower in its notice of
continuation or conversion as provided in Section 2.04; provided that all of the foregoing
provisions relating to Interest Periods are subject to the following: 
 (a) if(i) if the day after
the end of any Interest Period for a LIBOR Loan would otherwise end on a day which is not a LIBOR Business Day, (so that a new Interest Period could not
be selected by the Borrower to start on such day), then such Interest Period shall be extendedcontinue
up to, but shall not include, the next succeeding LIBOR Business Day after the end of such Interest Period, unless the result of such
extension would be to carry
suchcause any immediately following Interest
Period into
anotherto begin in the next calendar month in
which event
suchthe Interest Period shall end oncontinue up to, but
shall not include, the Business Day immediately preceding LIBOR Business Day; 

(b) if anythe last day of such Interest Period for a LIBOR Loan begins on the last LIBOR Business Day of a calendar month (or
on a day for which there is no numerically corresponding day in the calendar month at the end of such; (ii) no Interest Period) that Interest Period shall, subject to clause (c), end on the last LIBOR Business Day of the relevant calendar month at the end of such Interest Period; 
 (c)
Borrower may not select an Interest Period with respect to any portion of principal of a LIBOR Loan
which extends extend beyond the Maturity Date;
and(d)
(iii) there shall be no more than three (3) Interest Periods with respect to LIBOR
Loans outstanding at any time; and (b) if a
Benchmark Replacement is applicable, means the tenor of the Benchmark Replacement. 

“Internal Revenue Code”: The Internal Revenue Code of 1986, as amended to the date hereof and from time to time hereafter,
including any regulations of the U.S. Department of the Treasury. 

  
 13 

 “Landlord Subordination Agreement”: A landlord subordination agreement in
form and substance reasonably satisfactory to the Lender, executed by a landlord of any leased real property. 
 “LCT Consummation Date”: As defined in Section 1.04.

“LCT
Test Date”: As defined in Section 1.04.  
 “Lender”:
As defined in the introductory paragraph of this Agreement. 
 “Letter of Credit”: As defined in Section 2.01(b)(ii).

 “Letter of Credit Agreement”: As defined in Section 2.01(b)(ii). 

“Letter of Credit Sublimit”: A sublimit for Letters of Credit not to exceed $45,000,000. 

“Leverage Ratio”: As of any date of determination, the ratio of (a) without duplication, all outstanding Debt of the Borrower and its Subsidiaries as of such date (i) owed
under the Commitment, (ii) in respect of Letters of Credit issued and outstanding under the Letter of Credit Sublimit (including all outstanding unreimbursed amounts with respect to any Letter of Credit) and (iii) that constitutes Capital
Leases to (b) EBITDA, as of the end of the twelve month period most recently ended for which financial statements are available, determined on a
consolidated basis in accordance with GAAP. 
 “LIBOR”: With respect to any LIBOR
LoanFor the purpose of calculating effective rates of interest for loans making reference to Interest
Periods, the London interbank offered rate administered andrate of interest per annum determined by Lender based on the rate for United States dollar deposits for delivery on the first
day of each Interest Period for a period approximately equal to such Interest Period as published
by the ICE Benchmark Administration Limited (or any other successor thereto which takes over administration of such rate), as determined by the Lender from time to time for purposes of providing quotations of
interest rate applicable to Dollar deposits in the London interbank market), a United Kingdom
company, at approximately 11:00 a.m., London time, two (2) LIBORLondon Business Days prior to the makingfirst day of
such LIBOR Loan, as the rate of the offering of Dollar deposits with a maturity comparable to the
Interest Period of such LIBOR Loan, in each case as adjusted for Applicable Reserve Requirements(or if not so published, then as determined by Lender from another recognized source or interbank quotation); provided, however,
that if LIBOR
isdetermined as provided above would be less than
zero, percent (0.0%), then LIBOR shall be deemed to be
zero percent (0.0%). 

“LIBOR Business Day”: A day which is a Business Day and on which dealings in Dollar deposits may be carried out in the London
interbank market. 
 “LIBOR Loans”: Loans hereunder at such time as they accrue interest at a rate based upon LIBOR. 

  
 14 

 “Lien”: Any lien, mortgage, deed of trust, pledge, security interest,
charge or encumbrance of any kind (including any conditional sale or other title retention agreement, any financing lease in the nature thereof, and any agreement to give any security interest). 

“Liquidity”: At any time of determination, the sum
of (i) the amount (without duplication) of Eligible Accounts Receivable at such time and (ii) the amount of Unrestricted Cash at such time. 

“Limited Condition
 Transactions”: Any (a) Permitted Acquisition or investment by the Borrower or one or more of its Subsidiaries, or (b) Restricted Payment, in each case of (a) and (b), which is (x) not prohibited hereunder, (y) not
conditioned on the availability of, or on obtaining, third party financing and (z) completed within six months of the applicable LCT Test Date. 

“Loans”: All advances made to the Borrower pursuant to Section 2.01. 

“Loan Documents”: This Agreement, the Note, the Security Documents, the Subsidiary Guarantee, and each other agreement or
certificate delivered to the Lender in connection with this Agreement and/or the credit extended hereunder (but excluding any Hedge Agreement with the Lender or its Affiliates or any agreements relating to Cash Management Obligations owing to the
Lender or its Affiliates). 
 “Loan Party”: The Borrower and the Guarantors. 

“London
Business Day”: Any day that is a day for trading by and between banks in dollar deposits in the London interbank market.  

“Management and Services
AgreementAgreements
”: (a) the Management and Services Agreement dated as of August 26, 2013 between Borrower and Box.com (UK) Ltd, asand
(b) the Management and Services Agreement dated as
of September 14, 2020 among Borrower, Box.com (UK) Ltd. and Box Intl Technology Ltd., as each may be amended from time to time. 

“Material Adverse Effect”: (i) A material adverse change in, or a material adverse effect upon, the business, general
affairs, assets, liabilities, properties, operations, financial condition or results of operations of the Loan Parties, taken as a whole, (ii) (a) a material impairment of the ability of any Loan Party to comply with or perform any of its
payment obligations under any Loan Document or (b) a material impairment of the ability of any Loan Party to comply with or perform any of its other obligations under any Loan Document or (iii) a material adverse effect upon the legality,
validity, binding effect or enforceability against any Loan Party of any Loan Document. 
 “Material Subsidiary”: Any
Subsidiary that, on a consolidated basis for such Subsidiary and its Subsidiaries, (i) for the most recent Fiscal Quarter for which financial statements have been delivered or were required to be delivered pursuant to Section 6.01(a)(i) or
Section 6.01(a)(ii) accounted for more than 10% of the
consolidated revenues of the Borrower and its Subsidiaries or (ii) as at the end of such Fiscal Quarter, was the owner of more than 10% of the consolidated assets of the Borrower and its Subsidiaries. 

  
 15 

 “Maturity Date”: July 1226,
20222024. 

“Moody’s”: Moody’s Investors Service, Inc., or any successor thereto. 

“Multiemployer Plan”: A “multiemployer plan” as defined in Section 3(37) of ERISA. 

“Net Share Settlement”: Any settlement upon conversion of Convertible Debt Securities consisting of Qualified Equity
Interests, cash or a combination of cash and Qualified Equity Interests. 
 “Non-U.S. Lender Party”: As defined in
Section 3.11(f)(ii)(B). 
 “Note”: A promissory note in the form of Exhibit C, as supplemented, amended, modified,
amended and restated or replaced in writing from time to time. 
 “Obligations”: All advances to, debts, liabilities,
obligations (monetary (including post-petition interest, allowed or not) or otherwise) of every nature of any Loan Party from time to time arising under any Loan Document or otherwise with respect to any Loan, in each case, whether direct or
indirect, absolute or contingent, due or to become due, now existing or hereafter arising, and including principal, interest, fees, expenses and indemnification obligations. 

“OFAC”: The Office of Foreign Assets Control, Department of the Treasury. 

“Other Connection Taxes”: With respect to any recipient (including the Lender), Taxes imposed as a result of a present or
former connection between such recipient (including the Lender) and the jurisdiction imposing such Tax (other than connections arising from such recipient (including the Lender) having executed, delivered, become a party to, performed its
obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

“Other Taxes”: All present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise
from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are
Other Connection Taxes imposed with respect to an assignment. 
 “Patriot Act”: The USA Patriot Act (Title III of Pub. L.
107-56), as amended. “Pension Plan”: Any employee benefit plan as defined in Section 3(3) of ERISA, other than a Multiemployer Plan, which is subject to Section 412 of the Internal Revenue Code or Section 302 of
ERISA. 

  
 16 

 “Permitted Acquisition”: Any acquisition by the Borrower or any of its
Subsidiaries of all or substantially all of the stock, assets or any business line or division of a U.S. or foreign Person, whether by merger, consolidation or otherwise, in any transaction or a series of related transactions, which, in the case of a Limited Condition Transaction, shall be subject to Section 1.04, provided that: 
 (i) no less than onefive (15) daydays prior to the proposed closing date of such acquisition, the Borrower shall have delivered written notice of such Permitted Acquisition to the Lender, which notice shall include the proposed closing date of such
Permitted Acquisition; 
 (ii) for
any acquisition in which the aggregate amount of consideration exceeds $10,000,000, the Borrower shall have furnished to the Lender at least one (1) day prior to the consummation thereof copies of such agreements, instruments and other documents as
the Lender shall reasonably request, including any term sheet and/or commitment letter and other documents in connection with such acquisition; 

(ii)
 (iii) the Borrower shall have furnished to the Lender such documentation and other
information that the Lender reasonably requests as to the target of such acquisition in order to comply with its ongoing due diligence pursuant to regulatory requirements and its internal policies, including its obligations under applicable
“know your customer” and anti-money laundering rules and regulations, including the Patriot Act; 
 (iv) if required under Regulation S-X of the SEC, the Borrower shall have furnished to the Lender within the time period prescribed under Regulation S-X, a pro-forma balance
sheet of the Borrower and each of its Subsidiaries (including any Subsidiary formed or acquired in connection therewith) after giving effect to the consummation of such Permitted Acquisition and any incurrence of Loans to finance such Permitted
Acquisition; 
 (iii) [reserved]; 

(iv)
 (v) both before and immediately after giving effect to the consummation thereof, no
Potential Event of Default or Event of Default shall have occurred and be continuing; 
 (v) (vi) the target of such Permitted Acquisition shall be engaged in a business engaged in by the Borrower or any of its Subsidiaries on the Closing Date or (a) a related, ancillary, supplementary or
complementary business line, (b) a reasonable expansion or extension thereof or (c) such other lines of business as may be consented to in writing by the Lender (which consent shall not be unreasonably withheld or delayed); and 

(vi)
 (vii) 
no more than five (5) days after the closing date of such acquisition, the Borrower shall have furnished to the Lender (a) a Compliance Certificate duly executed by its Chief Financial Officer that (x) to the extent Borrower is required to deliver a pro forma balance sheet pursuant to clause (iv) above,
shows in reasonable detail the calculations used in determining the 

  
 17 

 
financial covenants set forth in SectionsSection 6.03(a) and 6.03(b) on a pro forma basis as of the last day of the most recently ended period for which financial
statements have been delivered to Lender pursuant to Section 6.01(a)(i) or (ii),are available and (y) states that no Potential Event of Default or
Event of Default is continuing as of the date of delivery of such Compliance Certificate or, if a Potential Event of Default or Event of Default is continuing, states the nature thereof and the action that the Borrower proposes to take with respect
thereto and, (b) a certificate duly executed by an authorized officer of the Borrower demonstrating
compliance with the requirements of clauses (i) through (vi) above and stating that, to the knowledge of the Borrower, such Permitted Acquisition has been approved by the board of directors (or equivalent governing body) of the Person to
be acquired and (c) copies of the executed acquisition agreement and such other related acquisition documents as
the Lender shall reasonably request. 
 “Permitted Call Hedging
Agreement”: An agreement pursuant to which the Borrower acquires a call or a capped call option (or substantively equivalent derivative transaction) requiring the counterparty thereto to deliver to the Borrower shares of common stock of the
Borrower (or other securities or property following a merger event, reclassification or other change of such common stock), the cash value of such shares (or such other securities or property) or a combination thereof, or cash representing the
termination value of such option from time to time upon settlement, exercise or early termination of such option, entered into by the Borrower in connection with the issuance of Convertible Debt Securities (including, without limitation, the
exercise of any over-allotment or initial purchaser’s or underwriter’s option). 
 “Permitted Investors”: The
Persons listed on Schedule 1.01(a)(ii) to the Disclosure Letter. 
 “Permitted Lien”: As defined in
Section 6.02(a). 
 “Permitted Refinancing”: With respect to any Person, any amendment, modification, replacement,
refinancing, refunding, renewal or extension of any Debt of such Person, provided that the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Debt so amended,
modified, replaced, refinanced, refunded, renewed or extended except by an amount equal to unpaid accrued interest and premium, make whole amounts and penalties thereon plus other reasonable amounts paid, and fees and expenses reasonably incurred,
in connection with such amendment, modification, replacement, refinancing, refunding, renewal or extension and by an amount equal to any existing commitments unutilized thereunder. 

“Person”: An individual, partnership, corporation, limited liability company, business trust, joint stock company, trust,
unincorporated association, joint venture, governmental authority or other entity of whatever nature, whether in an individual, fiduciary or other capacity. 

“Platform Contribution Transaction License Agreement”: Platform Contribution Transaction License Agreement dated
June 25, 2013, between the Borrower and Box Intl Technology Ltd., as may be amended from time to time. 

  
 18 

 “Pledged Shares”: As defined in the Security Agreement. 

“Potential Event of Default”: A condition or event which, after notice or lapse of time or both, would constitute an Event of
Default. 
 “Prime Rate”: At any time the rate of interest most recently announced within Lender at its principal office as
its Prime Rate, with the understanding that the Prime Rate is one of Lender’s base rates and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto, and is evidenced by the recording
thereof after its announcement in such internal publication or publications as Lender may designate. 
 “Prime Rate Loans”:
Loans hereunder at such time as they accrue interest at a rate based upon the Prime Rate. 
 “Qualified Equity Interests”:
Any Equity Interests that are not Disqualified Equity Interests. 
 “Regulations T, U and X”: Regulations T, U and X,
respectively, promulgated by the Board, as amended from time to time, and any successors thereto. 
 “Replacement Assets”:
With respect to any properties or assets subject to an existing Lien, any replacements, substitutions, attachments and accessions of or to such properties or assets subject to such Lien under the terms of the documentation creating such Lien at the
time such properties or assets are acquired (or, with respect to the acquisition of a Person that owns such assets, the time such Person becomes a Subsidiary) and proceeds and products of the properties or assets subject to such Lien. 

“Requirement”: As defined in Section 3.06. 

“Resolution
 Authority”: An EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority. 

“Restricted Payment”: any dividend or other distribution (whether in cash, securities or other property) with respect to any
Equity Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of any Equity Interests in the Borrower or any Subsidiary. 
 “S&P”: Standard & Poor’s
Ratings Service, a division of S&P Global Inc. or any
successor thereto. 

“Sanctioned
 Country”: At any time, a country, region or territory which is itself (or whose government is) the subject or target of any Sanctions (including, as of the Closing Date, Cuba, Iran, North
Korea, Syria and Crimea). 

  
 19 

“Sanctioned
 Person”: At any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by OFAC (including OFAC’s Specially Designated Nationals and Blocked Persons List and OFAC’s Consolidated Non-SDN List),
the U.S. Department of State, the United Nations Security Council, the European Union, any European member state, Her Majesty’s Treasury, or other relevant sanctions authority, (b) any Person operating, organized or resident in a
Sanctioned Country, (c) any Person owned or controlled by, or acting or purporting to act for or on
behalf of, directly or indirectly, any such Person or Persons described in clauses (a) and (b), including a Person that is deemed by OFAC to be a Sanctions target based on the ownership of such legal entity by Sanctioned Person(s) or
(d) any Person otherwise a target of Sanctions, including vessels and aircraft, that are designated under any Sanctions program. 

“Sanctions”: As defined in
Section 5.01(x).Any and all economic or financial sanctions, sectoral sanctions, secondary
sanctions, trade embargoes and restrictions and anti-terrorism laws, including but not limited to those
imposed, administered or enforced from time to time by the U.S. government (including those administered by OFAC or the U.S. Department of State), the United
Nations Security Council, the European Union, any European member state, Her Majesty’s Treasury, or other relevant sanctions authority in any jurisdiction in which (a) the Borrower or any of its Subsidiaries or Affiliates is located or
conducts business, (b) in which any of the proceeds of the Loans or Letters of Credit will be used, or (c) from which repayment of the Loans or Letters of Credit will be derived. 

 “SEC”: The Securities and Exchange Commission, or any governmental authority succeeding to any or all of its
functions. 
 “Secured Obligations”: Collectively, (i) the Obligations, (ii) all Hedging Obligations owing to the
Lender or any of its Affiliates and (iii) all Cash Management Obligations owing to the Lender or any of its Affiliates, provided that “Secured Obligations” shall not, as to any Loan Party, include any Excluded Swap Obligations of such
Loan Party. 
 “Security Agreement”: The Security Agreement dated as of November 27, 2017 among the Lender, the
Borrower and the Guarantors from time to time party thereto, as supplemented, amended, modified, amended and restated or replaced in writing from time to time. 

“Security Documents”: Collectively, the Security Agreement, and each other security agreement or other instrument or
document, in each case in form and substance reasonably satisfactory to the Lender, delivered from time to time in favor of the Lender pursuant to the terms of this Agreement to secure any of the Secured Obligations. 

“Senior
Secured Leverage Ratio”: As of any date of determination, the ratio of (a) all Total Funded Debt of the Borrower and its Subsidiaries that is secured by a “first priority” Lien on any property of the Borrower or any of its
Subsidiaries, including the Obligations to (b) EBITDA, for the period of four consecutive Fiscal Quarters ending on or most recently ended prior to such
date for which financial statements are available, determined on a consolidated basis in accordance with
GAAP. 

  
 20 

“Series
A Convertible Preferred Stock”: The Series A Convertible Preferred Stock issued by the Borrower pursuant to that certain Investment Agreement, dated as of April 7, 2021, to the investors party thereto.  
 “Solvent”: With respect to the Loan Parties on a consolidated basis, that as
of the date of determination, both (i) (a) the sum of the Loan Parties’ debts (including contingent liabilities) does not exceed the present fair saleable value of the Loan Parties’ present assets, (b) the Loan Parties’
capital is not unreasonably small in relation to their business as contemplated on the Closing Date or with respect to any transaction contemplated to be undertaken after the Closing Date, and (c) the Loan Parties have not incurred and do not
intend to incur, or believe (nor should they reasonably believe) that they will incur, debts beyond their ability to pay such debts generally as they become due (whether at maturity or otherwise) and (ii) the Loan Parties are
“solvent” (within the meaning given that term and similar terms under the Bankruptcy Code and applicable laws related to fraudulent transfers and conveyances). For purposes of this definition, the amount of any contingent liability at any
time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“Subordinated
 Debt”: The collective reference to any Debt incurred by the Borrower or any of its Subsidiaries that is subordinated in right and time of payment to the Obligations on terms and conditions reasonably satisfactory to the
Lender. 

“Subsidiary”: A corporation, partnership or other entity of which the relevant Loan Party owns, directly or through another
Subsidiary, at the date of determination, more than 50% of the outstanding capital stock or membership interests (or other shares of beneficial interest) having ordinary voting power for the election of directors or other governing body or Person,
irrespective of whether or not at such time stock of any other class or classes might have voting power by reason of the happening of any contingency, or holds at least a majority of partnership or similar interests, or is a general partner of such
a partnership. 
 “Subsidiary Guarantee”: The Subsidiary Guarantee, in the form of Exhibit D, made by the Guarantors
party thereto in favor of the Lender, as supplemented, amended, modified, amended and restated or replaced in writing from time to time. 

“Swap Obligation”: With respect to any Guarantor, any obligation to pay or perform under any agreement, contract or
transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act. 

“Taxes”: All present or future taxes, levies, imposes, duties, deductions, withholding (including backup withholding),
assessments, fees or other charges imposed by any governmental authority, including any interest, additions to tax or penalties applicable thereto. 

“Total Funded Debt” shall mean,
as: As of any date of determination all Debt of
the Borrower and its Subsidiaries on a consolidated basis as of such date but excluding (x) Debt contemplated by Section 6.02(b)(xvi) and (y) the contingent liabilities with respect to any swap and related hedging arrangements
(including the Hedging Obligations) prior to the date any such swap and related hedging arrangement (including the Hedging Obligations) is closed out and the termination value thereof determined in accordance therewith. 

  
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 “Total Leverage Ratio”: As of any date of determination, the ratio of
(a) without duplication, all outstanding Total Funded Debt of the Borrower and its Subsidiaries as of
such date to (b) EBITDA, as
offor the end of the twelve month period
of four consecutive Fiscal Quarters ending on or most
recently ended prior to such date for which financial
statements are available, determined on a consolidated basis in accordance with GAAP. 
 “U.S. Person”: Any Person
that is a “United States Person” as defined in Section 7701(a)(30) of the Internal Revenue Code. 
 “U.S. Tax
Compliance Certificate”: As defined in Section 3.11(f)(ii)(B)(iii). “ 
 UCC”: The Uniform Commercial
Code as in effect from time to time in the State of California. 

“UK Bribery Act”: As defined in Section
5.01(y). 
 “Unrestricted Cash”: As of any date of determination, the amount (without duplication) of unrestricted cash and Cash Equivalents of the Borrower or any other Loan
Party that is in deposit accounts or in securities accounts, or any combination thereof, that are held in an account with (i) the Lender or any of its Affiliates, or (ii) with any other financial institution, with respect to which, in the
case of any account with any Affiliate of the Lender or another financial institution, the Lender has received an account control agreement over such account, executed by such Affiliate or financial institution, the Lender and the Borrower or such
other Loan Party, in form and substance satisfactory to the Lender, and in each case, classified as a “current asset” in accordance with GAAP. 

“UK
Financial Institution”: Any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA
Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment
firms. 
 “UK Resolution Authority”: The Bank of England or any other public administrative authority having responsibility
for the resolution of any UK Financial Institution. 

“Write-Down and Conversion Powers”: (a) With respect to any EEA Resolution Authority, the write-down
and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In
Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations
of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to
suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that
are related to or ancillary to any of those powers. 
  

  
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 Section 1.02 Other Definitional Provisions. 

(a) As used herein and in any certificate or other document made or delivered pursuant hereto, accounting terms not defined in
Section 1.01, and accounting terms partly defined in Section 1.01 to the extent not defined, shall have the respective meanings given to them under GAAP. If at any time any change in GAAP would affect the computation of any financial ratio
or requirement set forth in any Loan Document, and either the Borrower or the Lender shall so request, the Borrower and the Lender shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of
such change in GAAP, provided that until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide Lender financial statements and other
documents required under this Agreement or as reasonably requested herein setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. Notwithstanding anything in this
Agreement or any other Loan Documents, if GAAP requires the Borrower subsequent to the Closing Date to cause operating leases to be treated as capitalized leases, including, without limitation, as a result of the implementation of proposed changes
to FASB ASC 840 and 842, then such change shall not be given effect hereunder (other than for purposes of the delivery of financial statements prepared in accordance with GAAP), and those types of leases which were treated as operating leases as of
the Closing Date shall continue to be treated as operating leases and not capitalized leases. 
 (b) The words “hereof”,
“herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and section, subsection, schedule and exhibit
references are to this Agreement unless otherwise specified. 
 (c) Any certificate or other writing required hereunder or under any other
Loan Document to be certified by any officer or other authorized representative of any Person shall be deemed to be executed and delivered by such officer or other authorized representative solely in such individual’s capacity as an officer or
other authorized representative of such Person and not in such officer’s or other authorized representative’s individual capacity. 

(d) Unless the context requires otherwise any definition of or reference to any agreement, instrument or other document herein shall be
construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other
Loan Document). 
 (e) For the purposes of calculating EBITDA in connection with any financial ratio or test for any measurement period, if
at any time during such period the Borrower or a Subsidiary shall have consummated a Permitted Acquisition that requires the Borrower to deliver, or if such calculation is being made on a pro forma balance sheet pursuant to clause (iv) of the definition of “Permitted Acquisition”basis when calculating any financial ratio or test or 

  
 23 

 
the amount or availability under any basket, then EBITDA for such period shall be calculated after giving pro forma effect theretoto such Permitted Acquisition (including pro forma adjustments arising out of events which are directly attributable to such Permitted Acquisition, including as a result of actions taken or expected to be taken (in the good faith
determination of Borrower) and are reasonably identifiable and factually supportable, and are expected to have a continuing impact, and, in each case, which are (x) determined on a basis consistent with Article 11 of Regulation S-X promulgated
under the Securities Act and as interpreted by the staff of the SEC, or (y) reflected in any pro forma financial model of Borrower and its Subsidiaries delivered to the Lender and which pro forma adjustments are reasonably acceptable to the
Lender, or otherwise to be mutually and reasonably agreed upon by the Borrower and the Lender) or in such other manner acceptable to the Lender; in each case, as if any such Permitted Acquisition occurred on the first day of such period. 

Section 1.03 Divisions. For all purposes under the Loan Documents, in connection with any division or plan of
division or establishment of any series under Delaware law (or any
comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been
transferred from the original Person to the subsequent Person, and (b) if any new Person comes
into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such
time and (c) each division and series of any Person shall be treated as a separate Person
hereunder. 
 Section 1.04 Limited Condition Transactions. In the event that the Borrower notifies the Administrative Agent in writing that any proposed
transaction is a Limited Condition Transaction and that the Borrower wishes to test the conditions to such Limited Condition Transaction in accordance with this Section 1.04, then, the following provisions shall apply: 

(a)
 any condition to any such Limited Condition Transaction (including
the incurrence or issuance of Debt in connection with such Limited Condition Transaction) that requires that no Potential Event of Default or Event of Default shall have occurred and be continuing at the time of such Limited Condition Transaction,
shall be satisfied if (i) no Potential Event of Default or Event of Default shall have occurred and be continuing at the time of the execution of the definitive purchase agreement, merger agreement or other definitive agreement governing such
Limited Condition Transaction (or, in the case of any Restricted Payment, the date on which such Restricted Payment is declared) (the “LCT Test Date”) and (ii) no Event of Default under Section 7.01(a) or Section 7.01(f)
shall have occurred and be continuing both immediately before and immediately after giving effect to such Limited Condition Transaction; 

(b)
 any financial ratio test or condition to be tested in connection with such Limited Condition Transaction will be
tested as of the LCT Test Date, in each case, after giving effect to such Limited Condition Transaction (including any incurrence or issuance of Debt and the use of proceeds thereof) or other transaction in connection therewith or action or
transaction related thereto where applicable on a pro forma basis, and, for the avoidance of doubt, (i) such ratios and baskets shall not be tested at the time of consummation of such Limited Condition Transaction and (ii) if any such
ratios are exceeded or conditions are not met following the LCT 

  
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Test Date, but prior to the earlier of (x) the date on which
such Limited Condition Transaction is consummated and (y) the date that the definitive agreement for such Limited Condition Transaction is terminated or expires without consummation of such Limited Condition Transaction (or the date for
redemption, purchase, repayment or other Restricted Payment specified in an irrevocable notice is terminated or expires without consummation of such Limited Condition Transaction) (the “LCT Consummation Date”), as a result of fluctuations
in such ratio or amount (including due to fluctuations in EBITDA of the Borrower or the Person subject to such Limited Condition Transaction), such ratios will not be deemed to have been exceeded and such conditions will not be deemed unmet as a
result of such fluctuations solely for purposes of determining whether the relevant transaction or action is permitted to be consummated or taken; 

(c)
 except as provided in the next sentence, in connection with any
subsequent calculation of any ratio or basket on or following the relevant LCT Test Date and prior to the LCT Consummation Date, any such ratio or basket shall be calculated on a pro forma basis assuming such Limited Condition Transactions and other
transactions in connection therewith (including the incurrence, issuance or assumption of Debt) have been consummated. Notwithstanding the foregoing, any calculation of a ratio in connection with determining the Applicable Margin and determining
whether or not the Borrower is in compliance with the financial covenants set forth in Section 6.03 shall, in each case be calculated assuming such Limited Condition Transaction and other transactions in connection therewith (including the
incurrence or assumption of Debt) have not been consummated. 
 The foregoing provisions shall apply with similar effect during the pendency of multiple Limited Condition Transactions such
that each of the possible scenarios is separately tested. 
 ARTICLE II.

 THE LOANS 

Section 2.01 The Loans. 

(a) The Commitment. The Lender agrees, on the terms and conditions hereinafter set forth, to make Loans to the Borrower from time to
time during the period from the date
hereofAmendment No. 4 Effective Date to but
excluding the Maturity Date in an aggregate amount not to exceed the Commitment at any time outstanding. Within the limits of the Commitment, the Borrower may borrow, repay pursuant to Section 2.02(b) and reborrow under this
Section 2.01(a). 
 (b) Making the Loans. 

(i) Loans. Each borrowing under this Section 2.01 (a “Borrowing”) shall be in a minimum amount of
$100,000 or an integral multiple of $100,000 above such amount. Subject to Section 3.08, each Borrowing shall be comprised entirely of Prime Rate Loans or LIBOR Loans, as the Borrower may request in accordance herewith. The Borrower may borrow
under the Commitment, less the aggregate face amount of Letters of Credit issued under the Letter of Credit Sublimit, on any Business Day (or for LIBOR Loans, any LIBOR Business Day), provided that the Borrower shall give the Lender irrevocable
written notice 

  
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substantially in the form of Exhibit A hereto (which notice must be received by the Lender prior to 12:00 p.m., California time) (1) in the case of Prime Rate Loans, on such requested
Borrowing date, and (2) in the case of LIBOR Loans, two (2) LIBOR Business Days prior to the requested Borrowing date, in each case specifying (A) the amount of the proposed Borrowing, (B) the requested date of the Borrowing,
(C) whether such Borrowing is to be a Prime Rate Loan or a LIBOR Loan (and if no election is indicated, such Borrowing shall be a Prime Rate Loan) and (D) if such Borrowing is a LIBOR Loan, the length of the Interest Period therefor. Upon
satisfaction or waiver of the applicable conditions set forth in Article IV, the Lender will make available the proceeds of all such Loans to the Borrower by crediting the account of the Borrower on the books of the Lender, or as otherwise directed
by the Borrower. The Lender’s failure to receive any written notice of a particular Borrowing shall not relieve the Borrower of its obligations to repay the Borrowing made and to pay interest thereon. The Lender shall not incur any liability to
the Borrower in acting upon any notice of Borrowing which the Lender believes in good faith to have been given by a Person duly authorized to borrow on behalf of the Borrower. 

(ii) Letters of Credit. Subject to the terms and conditions of this Agreement, Lender hereby agrees to issue or cause an
affiliate to issue standby letters of credit for the account of Borrower (each, a “Letter of Credit” and collectively, “Letters of Credit”) from time to time up to and including the Maturity Date; provided however,
that the aggregate of all undrawn amounts, and all amounts drawn and unreimbursed, under any Letters of Credit issued shall not at any time exceed the Letter of Credit Sublimit. The form and substance of each Letter of Credit shall be subject to
approval by Lender, in its sole discretion. Each Letter of Credit shall be subject to the additional terms of the Letter of Credit agreements, applications and any related documents required by Lender in connection with the issuance thereof (each, a
“Letter of Credit Agreement”). Borrower agrees to execute any further documentation in connection with the Letters of Credit as Lender may reasonably request. Borrower further agrees to be bound by the regulations and
interpretations of the issuer of any Letters of Credit guaranteed by Lender and opened for Borrower’s account or by Lender’s interpretations of any Letter of Credit issued by Lender for Borrower’s account, and Borrower understands and
agrees that Lender shall not be liable for any error, negligence, or mistake, whether of omission or commission, in following Borrower’s instructions or those contained in the Letters of Credit or any modifications, amendments, or supplements
thereto. If, on the Maturity Date (or the effective date of any termination of this Agreement), there are any outstanding Letters of Credit, then on such date Borrower shall provide to Lender cash collateralCash
Collateral in an amount equal to at least 100% of the aggregate dollar equivalent of the face amount of all such Letters of Credit plus all interest, fees, and costs due or estimated by BankLender to become due in connection therewith, to secure all of the Obligations relating to such Letters of Credit. 

  
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 (c) Note. The Loans made by the Lender pursuant hereto shall be evidenced by a Note
payable to the Lender and representing the obligation of the Borrower to pay the aggregate unpaid principal amount of all outstanding Loans, with interest thereon as prescribed in Section 2.03. The Lender is hereby authorized to record in its
books and records and on any schedule annexed to the Note the date and amount of each Loan made by the Lender, and the date and amount of each payment of principal thereof, and any such recordation shall constitute prima facie evidence of the
accuracy of the information so recorded, provided that failure by the Lender to effect such recordation shall not affect the Borrower’s obligations hereunder. Prior to the transfer of a Note, the Lender shall record such information on any
schedule annexed to and forming a part of such Note. 
 Section 2.02 Repayment. 

(a) Mandatory Repayment. The aggregate principal amount of the Loans outstanding on the Maturity Date, together with accrued but unpaid
interest thereon, shall be due and payable in full on the Maturity Date. 
 (b) Optional Prepayment. Subject to Section 3.07, the
Borrower may at its option prepay the Loans, in whole or in part, at any time and from time to time without premium or penalty, provided that the Lender shall have received from the Borrower notice of any such prepayment no later than 11:00 a.m.
California time (i) two (2) LIBOR Business Days prior to any date of prepayment of any LIBOR Loan and (ii) on the date of prepayment of any Prime Rate Loan, in each case specifying the date and the amount of prepayment. Partial
prepayments hereunder shall be in an aggregate principal amount of the lesser of (a) a minimum of $100,000 and in an integral multiple of $100,000 and (b) the outstanding balance of the Loan being paid. 

(c) Reduction or Termination of Commitment. At any time, the Borrower may, upon not less than five (5) Business Days’ prior
written notice to the Lender, terminate or permanently reduce the Commitment without premium or penalty by an aggregate minimum amount of $5,000,000 or any integral multiple of $5,000,000 in excess thereof; unless, after giving effect thereto and to
any prepayments of Loans made pursuant to Section 2.02(b), the outstanding principal amount of all Loans would exceed the amount of the Commitment sought to be in effect after such reduction. Once reduced in accordance with this
Section 2.02(c), the Commitment may not be increased. 
 Section 2.03 Interest Payment Dates and Interest
Rate. 
 (a) Payment of Interest. Interest with respect to each Loan shall be payable in arrears on each Interest Payment Date for
such Loan. 
 (b) Prime Rate Loans. Loans which are Prime Rate Loans shall bear interest on the unpaid principal amount thereof at a
rate per annum equal to the Prime Rate plus the Applicable Margin. 
 (c) LIBOR Loans. Loans which are LIBOR Loans shall bear interest
for each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to LIBOR determined for such Interest Period in accordance with the terms hereof plus the Applicable Margin. 

 

  
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 Section 2.04 Continuation; Conversion. 

The Borrower may elect from time to time to (a) continue any outstanding LIBOR Loan upon the expiration of the Interest Period applicable
thereto as a LIBOR Loan by giving to the Lender at least two (2) LIBOR Business Days’ prior irrevocable written notice of continuation and the succeeding Interest Period of such continued Loan will commence on the last day of the Interest
Period of the Loan to be continued, (b) convert any outstanding LIBOR Loan upon expiration of the Interest Period applicable thereto to a Prime Rate Loan by giving to the Lender at least one (1) Business Day’s prior irrevocable
written notice of conversion and (c) convert any outstanding Prime Rate Loan to a LIBOR Loan by giving to the Lender at least two (2) LIBOR Business Days’ prior irrevocable written notice of conversion, provided that no Loan may be
continued as a Loan other than a Prime Rate Loan if an Event of Default or Potential Event of Default has occurred and is continuing. Each such irrevocable written notice electing to continue or convert a Loan shall specify: (i) the proposed
continuation or conversion date, (ii) the amount of the Loan to be continued or converted, (iii) the nature of the proposed continuation or conversion (including whether the converted Loan will be a LIBOR Loan or a Prime Rate Loan) and
(iv) for Loans being continued as or converted to LIBOR Loans, the requested Interest Period, and shall certify that no Event of Default or Potential Event of Default has occurred and is continuing. On the date on which such continuation or
conversion is being made, the Lender shall take such action as is necessary to effect such continuation or conversion. In the event that no notice of continuation or conversion, or an incomplete notice of continuation or conversion, is received by
the Lender with respect to outstanding LIBOR Loans, then upon expiration of the Interest Period(s) applicable thereto, such Loans shall automatically be continued as LIBOR Loans with an Interest Period of one month; provided that if an Event of
Default or Potential Event of Default has occurred and is continuing, such Loans shall convert to Prime Rate Loans. 

Section 2.05 Fees. 

(a) Annual Loan Fee. The Borrower agrees to pay to the Lender, an annual fee equal to the Commitment multiplied by 0.20%. Such fee will be
fully earned and shall be due and payable in advance in full in cash on the Closing Date and on each annual anniversary
thereof.Commitment
 Fee. Commencing on the Amendment No. 4 Effective Date, the Borrower shall pay to Lender, for the account of Lender, a non-refundable commitment fee (the “Commitment Fee”) at a rate per annum equal to 0.225% on the average daily unused
portion of the Commitment. The Commitment Fee shall be payable in arrears on the last Business Day of each Fiscal Quarter during the term of this Agreement commencing September 30, 2021 and ending on the date upon which all Obligations (other
than contingent indemnification obligations not then due) shall have been indefeasibly and irrevocably paid and satisfied in full, all Letters of Credit have been terminated or expired (or been Cash Collateralized) and the Commitment has been
terminated. 
 (b) Letter of Credit Fees. Borrower shall pay to Lender
(i) fees upon the issuance of each Letter of Credit equal to 0.75% per annum (computed on the basis of a 360-day year, actual days elapsed) of the face amount thereof, and (ii) fees upon the payment or negotiation of each drawing
under any Letter of Credit and fees upon the occurrence of any other activity with respect to any Letter of Credit (including without limitation, the transfer, amendment or cancellation of any Letter of Credit) determined in accordance with
Lender’s standard fees and charges then in effect for such activity. 

  
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 (c) Lender Expenses. Borrower shall pay to Lender all Lender Expenses (including reasonable attorneys’ feescosts and expenses for documentation and negotiation of this Agreement, provided that such fees paid by Borrower for the documentation and negotiation of this Agreement through the Closing Date and completion of
any post-closing items pursuant to Section 6.01(r) will not exceed the lesser of (i) 50% of all such attorneys’ fees and expenses incurred by Lender or (ii) Twenty Thousand Dollars ($20,000)) incurred through and after the
Closing Date, when due (or, if no stated due date, upon demand by Lender)as set forth in
Section 8.05. 
 Section 2.06 Cash
Collateralization. 
 (a) Hedging Obligations. Upon the request of the Lender during the continuance of any Event of Default, the
Borrower shall immediately Cash Collateralize the outstanding Hedging Obligations owing to the Lender or any of its Affiliates in an amount equal to 100% of the aggregate amount of such Hedging Obligations. 

(b) Cash Management Obligations. Upon the request of the Lender during the continuance of any Event of Default, the Borrower shall
immediately Cash Collateralize the outstanding Cash Management Obligations owing to the Lender or any of its Affiliates in an amount equal to 100% of the aggregate amount of such Cash Management Obligations. 

(c) Security Interest. The Borrower hereby grants to the Lender a security interest in all cash, deposit accounts and all balances in
such cash or deposit accounts and all proceeds of the foregoing deposited as cash collateralCash Collateral pursuant to this Section 2.06 or Section 7.01.

 (d) Return of Cash Collateral. Cash Collateral provided under this Section 2.06 shall be returned to the Borrower within
five (5) Business Days after all Events of Default or Potential Events of Default have been cured or waived. Any such release shall be without prejudice to, and any disbursement or other transfer of Cash Collateral shall be and remain subject
to, any other Lien conferred under the Loan Documents and the other applicable provisions of the Loan Documents. 
 ARTICLE III. 

GENERAL PROVISIONS CONCERNING THE LOANS 

Section 3.01 Use of Proceeds. The proceeds of the Loans hereunder shall be used by the Borrower (i) to repay all outstanding
Debt owed to the Existing Lender and the other lenders under the Existing Credit Agreement; (ii) to pay fees and expenses incurred in connection with this Agreement and the other Loan Documents, and (iii) for working capital and general
corporate purposes of the Borrower and its Subsidiaries (including, to finance any Permitted Acquisition). 
 Section 3.02 Default
Interest. Notwithstanding anything to the contrary contained in Section 2.03, any amounts payable hereunder which are not paid when due shall bear interest at a rate per annum which is equal to 3.00% above the rate which would otherwise be
applicable pursuant to Section 2.03 or otherwise under this Agreement from the date of such nonpayment until paid in full (after as well as before judgment), payable on demand. 

  
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 Section 3.03 Computation of Interest. 

(a) Calculations. All computations of interest for Prime Rate Loans when the Prime Rate is determined by the Lender’s prime lending
rate shall be made on the basis of the year of 365 or 366 days, as the case may be, and the actual number of days elapsed. All other interest and fees hereunder shall be calculated on the basis of a 360 day year for the actual days elapsed. Any
change in the interest rate on a Prime Rate Loan resulting from a change in the Prime Rate shall become effective as of the opening of business on the day on which such change in the Prime Rate shall become effective. 

(b) Determination by Lender. Each determination of an interest rate by the Lender pursuant to any provision of this Agreement shall be
conclusive and binding on the Borrower in the absence of manifest error. 
 Section 3.04 Payments. The Borrower
shall make each payment of principal, interest and fees hereunder and under the Note, without set-off or counterclaim, not later than 12:00 p.m., California time, on the day when due in lawful money of the United States of America to the Lender at
the office of the Lender designated from time to time in immediately available funds. Subject to the provisions set forth in the definition of “Interest Period”, if any payment hereunder shall be stated to be due on a day other than a
Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of interest or fees, as the case may be. 

Section 3.05 Delay in Requests. Failure or delay on the part of the Lender to demand compensation pursuant to
Section 3.06, 3.07 or 3.09 shall not constitute a waiver of the Lender’s right to demand such compensation, except that the Borrower shall not be required to compensate the Lender pursuant to those Sections for any increased costs incurred
or reductions suffered more than 180 days prior to the date that the Lender notifies the Borrower of the change in law giving rise to such increased costs or reductions and of the Lender’s intention to claim compensation therefor, unless the
change in law giving rise to such increased costs or reduction is retroactive, in which case the 180 day period referred to above shall be extended to include the period of retroactive effect thereof. 

Section 3.06 Reduced Return. If the Lender shall have determined that any Change in Law (each, a
“Requirement”) regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on the Lender’s or its holding company’s capital as a consequence of its Commitment, Loans and
obligations hereunder (and which has not been taken into account in computing LIBOR or the Applicable Reserve Requirement) to a level below that which would have been achieved but for such Requirement or compliance therewith (taking into
consideration the Lender’s policies with respect to capital or liquidity requirements) by an amount deemed by the Lender to be material (which amount shall be determined by the Lender’s reasonable allocation of the aggregate of such
reductions resulting from such events), then from time to time, within ten (10) Business Days after demand (accompanied by a statement setting forth and explaining the change in such requirement and 

  
 30 

 
including all relevant calculations relating thereto) by the Lender, the Borrower shall pay to the Lender such additional amount or amounts as will compensate the Lender for such reduction. The
determination of such amount by the Lender shall be presumed correct absent manifest error. This covenant shall survive termination of this Agreement and the payment of the Obligations. 

Section 3.07 Funding Losses. The Borrower hereby agrees to indemnify the Lender and to hold the Lender harmless
from any loss or expense, including, but not limited to, any such loss or expense arising from interest or fees payable by the Lender to lenders of funds obtained by it in order to maintain its LIBOR Loans hereunder, in each case, which the Lender
actually sustains or incurs (in each case, excluding loss of anticipated profits or margin) as a consequence of (i) the Borrower failing to borrow or continue any LIBOR Loan after notice has been given to the Lender in accordance with this
Agreement (whether or not withdrawn by the Borrower), (ii) if for any reason a LIBOR Loan must be converted to a Prime Rate Loan in accordance with this Agreement, (iii) default by the Borrower in making any prepayment of a LIBOR Loan on
any date specified in a prepayment notice thereof in accordance with Section 2.02(b) or (iv) the Borrower making any payment of a LIBOR Loan on a day other than the last day of the Interest Period for such Loan. For purposes of this
Section 3.07, it shall be assumed that the Lender had funded or would have funded 100%, as the case may be, of a LIBOR Loan in the London interbank market for a corresponding amount and term. The determination of such amount by the Lender shall
be presumed correct in the absence of manifest error. This covenant shall survive termination of this Agreement and the payment of the Obligations. 

Section 3.08 Inability to Determine Interest Rate. In 

(a)
 Subject to clause (b) below, in the event that the Lender shall have determined (which determination shall be conclusive and binding upon the Borrower) that by reason of circumstances affecting the London interbank market, adequate and
reasonable means do not exist for ascertaining LIBOR applicable pursuant to Section 2.03 for any Interest Period with respect to a LIBOR Loan that will
result from a requested LIBOR Loan or that such rate of interest does not adequately cover the cost of funding such Loan, the Lender shall forthwith give notice of such determination to the
Borrower not later than 1:00 p.m. California time, on the requested Borrowing date or the last day of an Interest Period of a Loan which was to have been continued as a LIBOR Loan. If such notice is given and has not been withdrawn, (i) any
requested LIBOR Loan shall be made as a Prime Rate Loan, or, at the Borrower’s option, such Loan shall not be made, and (ii) any outstanding LIBOR Loan shall be converted, on the last day of the then current Interest Period with respect
thereto, to a Prime Rate Loan. Until such notice has been withdrawn by the Lender, no further LIBOR Loans shall be made. The Lender will review the circumstances affecting the London interbank market from time to time and the Lender will withdraw
such notice at such time as it shall determine that the circumstances giving rise to said notice no longer exist. 
 (b) Effect of Benchmark Transition
Event. Notwithstanding anything to the contrary contained in this Agreement or in any Loan
Document: 

  
 31 

(i)
 Benchmark Replacement. If a Benchmark Transition Event or
an Early Opt-in Election, as applicable, occurs, the applicable Benchmark Replacement will replace the then-current Benchmark for all purposes under this Agreement or under any Loan Document. Any Benchmark Replacement will become effective on the
applicable Benchmark Replacement Date without any further
action or consent of Borrower. 

(ii)
 Benchmark Replacement Conforming Changes. The Lender will
have the right to make Benchmark Replacement Conforming Changes from time to time and any amendments
implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of Borrower. 

(iii)
 Notices; Standards for Decisions and
Determinations. The Lender will promptly notify Borrower of (A) any occurrence of a Benchmark
Transition Event or an Early Opt-in Election, as applicable, (B) the implementation of any Benchmark Replacement, and
(C) the effectiveness of any Benchmark Replacement Conforming Changes.
Any determination, decision or election that may be made by Lender pursuant to this Section 3.08(b), including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event,
circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and will be made in
its sole discretion and without Borrower consent. 

As used in this
Section 3.08, each of the following capitalized terms shall have the meaning given to such term below: 

“Benchmark”:
 Initially, LIBOR; provided, however, that if a Benchmark Transition Event or an Early Opt-in Election, as applicable, has occurred with respect to LIBOR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark
Replacement to the extent that such Benchmark Replacement has become effective pursuant to the provisions of Section 3.08(b). 

“Benchmark
 Administrator”: Initially, ICE Benchmark Administration Limited, a United Kingdom company, or any successor administrator of the then-current Benchmark or any insolvency or resolution official with authority over such administrator. 

“Benchmark
 Replacement”: The first alternative set forth in the order below that can be determined by the Lender as of the applicable Benchmark Replacement Date: 

(1)
 the sum of: (A) Term SOFR or, if the Lender determines that Term SOFR for the Corresponding Tenor cannot be determined, Term SOFR for the longest tenor that can be determined by the
Lender that is shorter than the Corresponding Tenor, and (B) the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero) that has been selected or recommended by the
Relevant Governmental Body for Term SOFR; provided, however, that this clause (1) shall not apply to any borrowings under this Agreement if a Hedge Agreement is in effect with respect to all or any portion of this Agreement as of the Benchmark
Transition Event or Early Opt-in Election; 

  
 32 

(2)
 the sum of: (A) the alternate rate of interest that has been selected by the Lender as the replacement for the then-current Benchmark for the Corresponding Tenor (which, without limitation, may be compounded SOFR in arrears, term SOFR, the
Lender’s Prime Rate, or another benchmark selected by Lender); and (B) the applicable spread adjustment or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been
selected by the Lender. 
 With respect to the Lender’s decisions under this paragraph (2):

(i) if a
Hedge Agreement is in effect as of the Benchmark Transition Event or Early Opt-in Election, then the Lender may without limitation, select (A) the benchmark referenced in the Hedge Agreement, which may be the sum of a fallback rate and spread
adjustment, for the entire balance of the Loans, or (B) the benchmark referenced in the Hedge Agreement, which may be the sum of a fallback rate and spread adjustment, for the hedged portion of the Loans, and the applicable Benchmark
Replacement for the remaining non-hedged portion of the Loans; and 
 (ii) the Lender’s selection of any applicable Benchmark Replacement shall give due consideration to (A) any
selection or recommendation by the Relevant Governmental Body at such time for a replacement rate, the
mechanism for determining such a rate, the methodology or conventions applicable to such rate, or the spread
adjustment, or method for calculating or determining such spread adjustment, for such rate, or (B) any evolving or then-prevailing market convention for determining a rate of interest as a replacement to the then-current Benchmark, the
methodology or conventions applicable to such rate, or the spread adjustment, or method for calculating or determining such spread adjustment, for such alternate rate for U.S. dollar-denominated syndicated or bilateral credit facilities at such time. 

Provided,
however, during any period of time that the Benchmark Replacement would be less than zero percent (0.0%), the Benchmark Replacement shall be deemed to be zero percent (0.0%) for the purposes of this Agreement and the Loan Documents, subject to any
applicable floor rate provision. 
 “Benchmark Replacement Conforming Changes”: Any technical, administrative or operational changes (including, without limitation, changes
to the definition of “Interest Period,” timing and frequency of determining rates and making
payments of interest, prepayment provisions and other administrative matters) that the Lender decides may be
appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Lender. 

  
 33 

“Benchmark
 Replacement Date”: The date specified by the Lender in a notice to Borrower following a Benchmark
Transition Event or Early Opt-in Election. 
 “Benchmark Transition
Event”: The occurrence of one or more of the following events with respect to the then-current
Benchmark: a public statement or publication of information by or on behalf of the Benchmark Administrator or a regulatory supervisor for the Benchmark Administrator announcing that (A) the Benchmark Administrator has ceased or will cease to provide
the Benchmark permanently or indefinitely or (B) the Benchmark is no longer representative of
underlying markets. 
 “Corresponding Tenor”: A tenor having approximately the same length as the Interest Period. 

“Early
Opt-in Election”: The election by the Lender to
declare that the Benchmark will be replaced prior to the
occurrence of a Benchmark Transition Event and the
provision by the Lender of written notice of such election to
Borrower indicating that at least five (5) currently outstanding U.S. dollar-denominated syndicated credit facilities at such time contain (as a result of amendment or
as originally executed) Term SOFR plus a spread adjustment
that has been selected or recommended by the Relevant Governmental Body. 

“Relevant
 Governmental Body”: The Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the
Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto. 

“SOFR”
: With respect to any day means the secured overnight financing rate published for such day by the Federal Reserve Bank of New York,
as the administrator thereof, (or a successor
administrator) on its website. 
 “Term SOFR”:
The forward-looking term rate for the Corresponding Tenor based
on SOFR that has been selected or recommended by the Relevant Governmental Body. 
 Section 3.09 Requirements of Law. In the event that any Change in Law:

 (a) does or shall subject the Lender to any Taxes with respect to this Agreement, the Note or any Loan made, or change the basis of
taxation of payments to the Lender of principal, interest, fee or any other amount payable hereunder (except for (A) Indemnified Taxes, (B) Excluded Taxes and (C) Connection Income Taxes, or changes in the rates thereof); 

(b) does or shall impose, modify or hold applicable any reserve, assessment rate, special deposit, compulsory loan or other requirement against
assets held by, or deposits or other liabilities in or for the account of, advances or loans by, or other credit extended with respect to any Loan Document or any Loan by, or any other acquisition of funds by, any office of the Lender which are not
otherwise included in the determination of LIBOR at the last Borrowing or continuation date of a Loan; 

  
 34 

 (c) does or shall impose, modify or hold applicable any reserve, special deposit, compulsory
loan or other requirement against the Commitment to extend credit; or 
 (d) does or shall impose on the Lender any other condition with
respect to any Loan Document or any Loan; 
 and the result of any of the foregoing is to increase the cost to the Lender of making, renewing or maintaining
its Commitment or the LIBOR Loans or to reduce any amount receivable thereunder (which increase or reduction shall be determined by the Lender’s customary allocation of the aggregate of such cost increases or reduced amounts receivable
resulting from such events), then, in any such case, the Borrower shall pay to the Lender, within ten (10) Business Days of its demand, any additional amounts necessary to compensate the Lender for such additional cost or reduced amount
receivable as determined by the Lender with respect to this Agreement. If the Lender becomes entitled to claim any additional amounts pursuant to this Section 3.09, it shall notify the Borrower of the event by reason of which it has become so
entitled. A statement incorporating the calculation as to any additional amounts payable pursuant to the foregoing sentence submitted by the Lender to the Borrower shall be presumed correct in the absence of manifest error. This covenant shall
survive termination of this Agreement and the payment of the Obligations. 
 Section 3.10 Illegality.
Notwithstanding any other provisions herein, if any Change in Law shall make it unlawful, impossible, or impracticable for the Lender to make or maintain LIBOR Loans as contemplated by this Agreement, (a) the commitment of the Lender hereunder
to make LIBOR Loans shall forthwith be cancelled and (b) the Lender’s Loans then outstanding as LIBOR Loans, if any, shall be converted automatically to Prime Rate Loans on the last day of the then current Interest Period with respect
thereto or within such earlier period as required by law. The Borrower hereby agrees to pay the Lender, within three (3) Business Days of its demand, any additional amounts necessary to compensate the Lender for any actual costs incurred by the
Lender in making any conversion in accordance with this Section 3.10, including, but not limited to, any interest or fees payable by the Lender to lenders of funds obtained by it in order to make or maintain its LIBOR Loans hereunder (the
Lender’s notice of such costs, as certified to the Borrower, to be presumed correct absent manifest error). 
 Section 3.11
Taxes. 
 (a) Payments Free of Taxes. Any and all payments by or on account of any obligation of the Borrower hereunder shall
be made free and clear of and without deduction for any Taxes, except as required by applicable law. If the Borrower shall be required by law to deduct or withhold any Taxes from such payments, then (i) the Borrower shall make all required
deductions, (ii) the Borrower shall pay the full amount deducted to the relevant governmental authority in accordance with applicable law, and (iii) if such tax is an Indemnified Tax, the sum payable shall be increased as necessary so that
after making all required deductions (including deductions applicable to additional sums payable under this Section 3.11) the Lender receives an amount equal to the sum it would have received had no such deductions been made. 

  
 35 

 (b) Payment of Other Taxes by the Borrower. In addition, the Borrower shall pay all
Other Taxes in accordance with applicable law or, at the election of the Lender, timely reimburse it for the payment of such Other Taxes. 

(c) Indemnification by the Borrower. The Borrower shall indemnify the Lender, within ten (10) Business Days after written demand
therefor, for the full amount of any Indemnified Taxes paid by the Lender on or with respect to any payment by or on account of any obligation of the Borrower hereunder (including any such Indemnified Taxes imposed or asserted on or attributable to
amounts payable under this Section 3.11) and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant governmental authority. A
certificate as to the amount of such payment or liability delivered to the Borrower by the Lender shall be presumed correct absent manifest error. 

(d) Evidence of Payments. As soon as practicable after any payment of any Taxes by the Borrower to a governmental authority pursuant to
this Section 3.11, the Borrower shall deliver to the Lender the original or a certified copy of a receipt issued by such governmental authority evidencing such payment, a copy of the return reporting such payment or other evidence of such
payment reasonably satisfactory to the Lender. 
 (e) Refunds. If the Lender determines in its sole discretion exercised in good faith
that it has received a refund of any Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section 3.11, it shall pay over such refund to the Borrower (but
only to the extent of indemnification payments made, or additional amounts paid, by the Borrower under this Section 3.11 with respect to such Taxes giving rise to such refund), net of all out-of-pocket expenses of the Lender and without interest
(other than any interest paid by the relevant governmental authority with respect to such refund), provided that the Borrower, upon the request of the Lender, shall repay the amount paid over to the Borrower to the Lender in the event the Lender is
required to repay such refund to such governmental authority. This Section 3.11 shall not be construed to require the Lender to make available its tax returns (or any other information relating to its taxes which it deems confidential) to the
Borrower or any other Person. 
 (f) Status of
LendersLender. (i) The Lender or other
relevant party that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Borrower, at any time reasonably requested by the Borrower such properly completed and
executed documentation reasonably requested by the Borrower as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, the Lender or other relevant party if reasonably requested by the Borrower
shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower as will enable the Borrower to determine whether or not the Lender or other relevant party is subject to United States backup withholding or
information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section 3.11(f)(ii)(A),
(ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject the Lender to any material unreimbursed cost or expense or would materially prejudice the legal or
commercial position of the Lender. 

  
 36 

 (ii) Without limiting the generality of the foregoing: 

(A) the Lender or other relevant party that is a U.S. Person shall deliver to the Borrower on or prior to the date of this Agreement or the
date on which such other relevant party becomes the Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower), executed originals of IRS Form W-9 certifying that Lender or other relevant party is
exempt from Federal backup withholding tax; 
 (B) the Lender or other relevant party that is not a U.S. Person (a “Non-U.S. Lender
Party”) shall, to the extent it is legally entitled to do so, deliver to the Borrower (in such number of copies as shall be requested by the Borrower) on or prior to the date on which such Non-U.S. Lender Party becomes the Lender or other
relevant party under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower), whichever of the following is applicable; 

(i) in the case of a Non-U.S. Lender Party claiming the benefits of an income tax treaty to which the United States is a party
(x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN establishing an exemption from, or reduction of, Federal withholding Tax pursuant to the “interest” article of such tax treaty and
(y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN establishing an exemption from, or reduction of, Federal withholding Tax pursuant to the “business profits” or “other income” article
of such tax treaty; 
 (ii) executed originals of IRS Form W-8ECI; 

(iii) in the case of a Non-U.S. Lender Party claiming the benefits of the exemption for portfolio interest under
Section 881(c) of the Internal Revenue Code, (x) a certificate to the effect that such Non-U.S. Lender Party is not a “bank” within the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, a “10 percent
shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Internal Revenue Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Internal Revenue Code (a “U.S. Tax
Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN; or 
 (iv) to the extent a Non-U.S.
Lender Party is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate, IRS Form W-9, and/or other certification documents from each beneficial owner, as
applicable, provided that if the Non-U.S. Lender Party is a partnership and one or more direct or indirect partners of such Non-U.S. Lender party are claiming the portfolio interest exemption, such Non-U.S. Lender Party may provide a U.S. Tax
Compliance Certificate on behalf of each such direct and indirect partner; 

  
 37 

 (C) any Non-U.S. Lender Party shall, to the extent it is legally entitled to do so, deliver
to the Borrower (in such number of copies as shall be requested by the Borrower) on or prior to the date on which such Non-U.S. Lender Partner becomes the Lender under this Agreement (and from time to time thereafter upon the reasonable request of
the Borrower) executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in Federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by
applicable law to permit the Borrower to determine the withholding or deduction required to be made; and 
 (D) if a payment made to the
Lender (or other relevant party) under any Loan Document would be subject to Federal withholding Tax imposed by FATCA if the Lender (or other relevant party) were to fail to comply with the applicable reporting requirements of FATCA (including those
contained in Section 1471(b) or 1472(b) of the Internal Revenue Code, as applicable), the Lender (or other relevant party) shall deliver to the Borrower at the time or times prescribed by law and at such time or times reasonably requested by
the Borrower such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(1) of the Internal Revenue Code) and such additional documentation reasonably requested by the Borrower as may be necessary for the
Borrower to comply with its obligations under FATCA and to determine that the Lender (or other relevant party) has complied with the Lender’s (or other relevant party’s) obligations under FATCA or to determine the amount to deduct and
withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

If any form or certification previously delivered expires or becomes obsolete or inaccurate in any respect, the Lender (or other relevant
party) shall update such form or certification or promptly notify the Borrower in writing of its legal inability to do so. 

Section 3.12 Effect of Benchmark Transition
Event. 

(a)
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as
applicable, the Lender may amend this Agreement to replace LIBOR with a Benchmark Replacement. Any such amendment will become effective at 5:00 p.m. on the tenth (10th) Business Day after the Lender has provided such proposed amendment to
the Borrower without any further action or consent of
the Borrower, so long as the Lender has not received, by such time, written notice of objection to such amendment from the Borrower. No replacement of LIBOR with a Benchmark Replacement pursuant to this
Section 3.12 will occur prior to the applicable Benchmark Transition Start Date.

 (b) Benchmark Replacement Conforming
Changes. In connection with the implementation of a Benchmark Replacement, the Lender will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing
such Benchmark Replacement Conforming Changes will become effective without any further action or consent of the Borrower.

  
 38 

(c)
Notices; Standards for Decisions and Determinations. The Lender will promptly
notify the Borrower of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date and Benchmark Transition Start Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes
and (iv) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or election that may be made by
the Lender pursuant to this Section 3.12,
including any determination with respect to a tenor, rate or adjustment or of the occurrence or
non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action, will be conclusive and binding absent
manifest error and may be made in the Lender’s
sole discretion and without consent from the Borrower, except, in each case, as expressly required pursuant to this Section
3.12. 
 (d) Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the
Borrower may revoke any request for a Borrowing of, conversion to or continuation of LIBOR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such
request into a request for a Borrowing of or conversion to Base Rate Loans. During any Benchmark Unavailability Period, the component of Base Rate based upon LIBOR will not be used in any determination of Base Rate. 

(e) Certain Defined Terms. As used in this Section 3.12: 

“Benchmark Replacement”
means the sum of: (a) the alternate benchmark rate (which may include Term SOFR) that has been selected by the Lender and the Borrower giving
due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the Relevant Governmental
Body or (ii) any evolving or then-prevailing market convention for determining a rate of interest
as a replacement to LIBOR for U.S. dollar-denominated syndicated or bilateral credit facilities and (b) the Benchmark Replacement Adjustment; provided that, if the Benchmark Replacement as so determined would be less than zero, the Benchmark
Replacement will be deemed to be zero for the purposes of this Agreement. 

“Benchmark Replacement
Adjustment” means, with respect to any replacement of LIBOR with an Unadjusted
Benchmark Replacement for each applicable Interest Period, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Lender and the
Borrower giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of LIBOR with the applicable Unadjusted Benchmark Replacement
by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of LIBOR with the applicable Unadjusted Benchmark Replacement for U.S.
dollar-denominated syndicated or bilateral credit facilities at such time. 

  
 39 

“Benchmark Replacement Conforming
Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the
definition of “Base Rate,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest and other administrative matters) that the Lender decides may be
appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the
Lender in a manner substantially consistent with
market practice (or, if the Lender decides that adoption of any portion of such market practice is not administratively feasible or if the Lender determines that
no market practice for the administration of the Benchmark Replacement exists, in such other manner of administration as the Lender decides is reasonably
necessary in connection with the administration of this Agreement). 

“Benchmark Replacement Date” means the earlier to occur of the following events with respect to LIBOR: 

(1) in the case of clause (1) or (2) of the
definition of “Benchmark Transition Event,” the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of LIBOR permanently or indefinitely
ceases to provide LIBOR; or 
 (2) in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or publication of information referenced
therein.  

“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to LIBOR: 

(1) a public statement or publication of information by or on
behalf of the administrator of LIBOR announcing that such administrator has ceased or will cease to provide LIBOR, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that
will continue to provide LIBOR; 
 (2) a public statement or publication of information by the regulatory supervisor for the administrator of LIBOR, the U.S. Federal Reserve System, an insolvency official
with jurisdiction over the administrator for LIBOR, a resolution authority with jurisdiction over the administrator for LIBOR or a court or an entity with similar insolvency or resolution authority over the administrator for LIBOR, which states that
the administrator of LIBOR has ceased or will cease to provide LIBOR permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide LIBOR;
or 
 (3) a public statement or publication of information by the regulatory supervisor
for the administrator of LIBOR announcing that LIBOR
is no longer representative. 

  
 40 

“Benchmark Transition Start
Date” means (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of
information of a prospective event, the 90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or
publication, the date of such statement or publication) and (b) in the case of an Early Opt-in Election, the date specified by the Lender by notice to the Borrower, so long as the Lender has not received, by such date, written notice of
objection to such Early Opt-In Election from the Borrower. 
 “Benchmark Unavailability Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with
respect to LIBOR and solely to the extent that LIBOR has not been replaced with a Benchmark Replacement, the period (x) beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has
replaced LIBOR for all purposes hereunder in accordance with this Section 3.12 and (y) ending at the time that a Benchmark Replacement has replaced LIBOR for all purposes hereunder pursuant to this
Section 3.12. 
 “Early Opt-in Election” means the occurrence of: 

(1) a determination by the Lender that at least
five currently outstanding U.S. dollar-denominated syndicated or bilateral credit facilities at such time contain (as a result of amendment or as originally executed) as a benchmark interest rate, in lieu of LIBOR, a new benchmark interest rate to replace LIBOR, and 

(2) the election by the Lender to declare that an Early Opt-in Election has occurred and the provision by the Lender of
written notice of such election to the Borrower. 

“Federal Reserve Bank of New York’s Website”
means the website of the Federal Reserve Bank of New York at http://www.newyorkfed.org, or any successor source. 

“Relevant Governmental Body” means the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal
Reserve Bank of New York or any successor thereto. 
 “SOFR” with respect to any day means the secured overnight financing rate published for such day by the Federal Reserve Bank of New York, as the administrator of the benchmark, (or a successor administrator) on the Federal Reserve Bank of New York’s Website.

 “Term SOFR” means the forward-looking term rate based on SOFR that has been selected or
recommended by the Relevant Governmental Body. 
 “Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment.  
 ARTICLE IV. 

CONDITIONS OF LENDING 

Section 4.01 Conditions Precedent to Credit Facility. The effectiveness of this Agreement and the obligations of the
Lender to make Loans hereunder on the Closing Date are subject to the conditions precedent that: 

  
 41 

 (a) The Lender shall have received the following, each in form and substance satisfactory to
the Lender in its sole discretion: 
 (i) executed copies of this Agreement, the Note, the Security Agreement and each other
Loan Document; 
 (ii) a copy of the certificate of incorporation of the Borrower, certified as of a recent date by the
Secretary of State of the State of Delaware; 
 (iii) a copy of the bylaws of the Borrower, certified by the Secretary or an
Assistant Secretary or other authorized person of the Borrower; 
 (iv) a copy of resolutions of the Board of Directors or
other authorizing documents of the Borrower approving the Loan Documents and the Borrowings hereunder; 
 (v) an incumbency
certificate executed by the Secretary or an Assistant Secretary or other authorized person of the Borrower or equivalent document, certifying the names and signatures of the officers of the Borrower or other Persons authorized to sign the Loan
Documents and the other documents to be delivered hereunder; 
 (vi) a certificate of good standing or its equivalent and
evidence of good standing as to payment of any applicable franchise or similar taxes with respect to the Borrower from the Secretary of State of the State of Delaware; 

(vii) evidence that all governmental, regulatory and other third party consents and approvals required in connection with the
Loan Documents and the Borrowings hereunder have been obtained and are in full force and effect; 
 (viii) a favorable
opinion or opinions of counsel for the Borrower addressing issues under California and Delaware law, dated the Closing Date; 

(ix) evidence of payment of all costs, expenses, fees and other compensation (including reasonable, documented and
out-of-pocket attorneys’ fees and expenses) required to be paid to the Lender by the Borrower pursuant to this Agreement or any other written agreement on or prior to the Closing Date; 

(x) a certificate from the Chief Financial Officer of the Borrower or other authorized officer with knowledge of the financial
position of the Borrower dated the Closing Date certifying as to the matters set forth in Section 5.01(p) of this Agreement as to Solvency; 

(xi) a completed Compliance Certificate for the fiscal quarter ending July 31, 2017; 

  
 42 

 (xii) such documentation and other information that the Lender requests as
to the Borrower in order to comply with its ongoing due diligence pursuant to regulatory requirements and its internal policies, including its obligations under applicable “know your customer” and anti-money laundering rules and
regulations, including the Patriot Act; 
 (xiii) other than as delivered pursuant to Section 4.03 of this Agreement,
evidence that the Lender shall have a valid and perfected first priority security interest in the Collateral (subject to Permitted Liens, except with respect to the Collateral that is required to be physically delivered to the Lender pursuant to the
Security Documents) (including (w) any documents reasonably requested by the Lender or as required by the terms of the Security Documents to evidence its security interest in the Collateral (including, without limitation, any Landlord
Subordination Agreements, bailee letters, control agreements and filings evidencing a security interest in any intellectual property included in the Collateral); (x) copies of lien search reports and of all effective prior filings listed
therein, together with evidence of the termination of such prior filings (except with respect to Permitted Liens), in each case as may be requested by the Lender, (y) such documents duly executed by the Borrower as the Lender may request with
respect to the perfection of its security interests in the Collateral (including financing statements under the UCC and other applicable documents under the laws of any jurisdiction with respect to the perfection of Liens created by the Security
Documents) and (z) all certificates, instruments and other documents representing the Collateral and related undated powers or endorsements duly executed in blank); 

(xiv) a completed perfection certificate as to the Borrower, dated the Closing Date and signed by an authorized officer of the
Borrower, together with all attachments contemplated thereby; 
 (xv) an executed payoff letter from the Existing Lender
which shall, among other things, provide for the discharge of all Liens over the property of the Borrower in favor of the Existing Lender in connection with the Existing Credit Agreement; 

(xvi) evidence of insurance coverage, in form, substance, amounts, covering risks and issued by companies satisfactory to the
Lender, and where required by the Lender, with lender loss payable endorsements in favor of the Lender; 
 (xvii) such other
certificates and documents as the Lender shall reasonably request; 
 (b) all corporate and legal proceedings and all instruments and
documents in connection with the transactions contemplated by this Agreement shall be reasonably satisfactory in content, form and substance to the Lender and its counsel, and the Lender and the Lender’s counsel shall have received any and all
further information and documents which the Lender or such counsel may reasonably have requested in connection therewith, such documents where appropriate to be certified by proper corporate or governmental authorities; 

  
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 (c) completion by the Lender of a due diligence investigation of the Borrower in scope, and
with results, satisfactory to the Lender in its reasonable discretion; 
 (d) neither the Borrower nor any of its Subsidiaries shall be in
default in the performance of any agreement or instrument to which it may be a party or by which its properties may be bound, or in violation of any law, in any case which defaults and violations, individually or in the aggregate, have had or could
reasonably be expected to have a Material Adverse Effect; 
 (e) the representations and warranties contained in this Agreement and the other
Loan Documents shall be true, correct and complete in all material respects (or, in the case of any such representation or warranty already qualified by materiality or reference to Material Adverse Effect, in all respects) on and as of the Closing
Date as though made on and as of the Closing Date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties were true, correct and complete in all material
respects (or, in the case of any such representation or warranty already qualified by materiality or reference to Material Adverse Effect, in all respects) on and as of such earlier date; 

(f) no event or condition shall have occurred and be continuing that would constitute an Event of Default or Potential Event of Default; and

 (g) since the date of the most recent audited financial statements received by the Lender prior to the Closing Date, no Material Adverse
Effect shall have occurred. 
 Section 4.02 Conditions Precedent to Each Borrowing. The obligation of the Lender
to make a Loan on the occasion of each Borrowing (including the initial Borrowing) shall be subject to the further condition precedent that on the date of such Borrowing, the following statements shall be true and the Lender shall have received the
notice required by Section 2.01(b), which notice shall be deemed to be a certification by the Borrower that: 
 (a) the representations
and warranties contained in this Agreement and the other Loan Documents are true, correct and complete in all material respects (or, in the case of any such representation or warranty already qualified by materiality or reference to Material Adverse
Effect, in all respects) on and as of such date as though made on and as of such date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties were true,
correct and complete in all material respects (or, in the case of any such representation or warranty already qualified by materiality or reference to Material Adverse Effect, in all respects) on and as of such earlier date; 

(b) no event or condition has occurred and is continuing, or would result from such Borrowing that would constitute an Event of Default or
Potential Event of Default; and 
 (c) all Loan Documents are in full force and effect. 

Section 4.03 Post Closing Conditions. Borrower agrees to deliver the following items to BankLender: 

  
 44 

 (a) within five (5) Business Days (or any longer period agreed to by BankLender) after the date hereof, to the extent such Equity Interests are certificated, the certificates for the Equity Interests of Borrower’s Subsidiaries, together with Stock Powers, duly executed in blank;
provided that such certificates shall be for 100% of the voting power of all classes of the Equity Interests with respect to any Domestic Subsidiary and 65% of the voting power of all classes of the Equity Interests of a Foreign Subsidiary (or
Domestic Subsidiary of a Foreign Subsidiary that is a CFC); 
 (b) within sixty (60) days (or any longer period agreed to by BankLender) after the date hereof, account control agreements, in form and substance satisfactory to the Lender, and executed by the financial institution or securities intermediary at which the Borrower’s deposit
account(s) or securities account(s) not held with Lender and constituting Collateral, as the case may be, are maintained; 
 (c)
within sixty (60) days (or any longer period agreed to by
BankLender) after the date hereof, a Landlord
Subordination Agreement, in form and substance reasonably acceptable to BankLender, in favor of BankLender for 900 Jefferson Ave., Redwood City, CA 94063 by the respective landlord thereof, together with the duly executed original signatures thereto. 

ARTICLE V. 

REPRESENTATIONS AND WARRANTIES 

Section 5.01 Representations and Warranties. The Borrower represents and warrants as follows: 

(a) Organization. Each Loan Party and each of its Subsidiaries is duly incorporated, formed or organized, as applicable, validly
existing and in good standing under the laws of the jurisdiction of its incorporation, formation or organization (to the extent such concept is relevant or applicable in such jurisdiction) and each jurisdiction where such Loan Party is required to
be qualified to do business unless the failure to so qualify is not likely to have a Material Adverse Effect, and has all requisite corporate, limited liability company or partnership power and authority to own and operate its properties and to
carry out its business. 
 (b) Authorization. The execution, delivery and performance by each Loan Party of the Loan Documents
executed by it, and the making of Borrowings hereunder in the case of the Borrower, are within such Loan Party’s corporate, limited liability or partnership powers, as applicable, and have been duly authorized by all necessary corporate,
limited liability or partnership action, as applicable. 
 (c) No Conflict. The execution, delivery and performance by each Loan Party
of the Loan Documents executed by it do not (i) violate such Person’s charter, by-laws or other organizational document, (ii) violate any law or regulation (including Regulations T, U and X) applicable to such Person or any order,
judgment or decree of any court or governmental agency body binding on such Person, (iii) result in a breach of or a default under, or result in or require the imposition of a Lien pursuant to any contract binding on such Person, except to the
extent the foregoing could not reasonably be expected to have a Material Adverse Effect, or (iv) violate any material agreement as to which such Person is a party, except to the extent such violation could not reasonably be expected to result
in the termination of such material agreement or otherwise have a Material Adverse Effect. 

  
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 (d) Governmental Consents. No authorization or approval or other action by, and no
notice to or filing with, any governmental authority or regulatory body is required for the due execution, delivery and performance by any Loan Party of the Loan Documents, except for filings and recordings with respect to the Collateral to be made
under the Loan Documents. 
 (e) Validity. Each Loan Document has been duly executed and delivered by each Loan Party that is a party
thereto and constitutes the binding obligations of each Loan Party that is a party thereto, each enforceable against each Loan Party that is a party thereto in accordance with their respective terms, except in each case as such enforceability may be
limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights. 

(f) Litigation. Except as set forth on Schedule 5.01(f) to the Disclosure Letter, there is no action or proceeding pending (or
threatened in writing) affecting any Loan Party or any of its Subsidiaries before any court, governmental agency or arbitrator, which could reasonably be expected to have a Material Adverse Effect. 

(g) Employee Benefit Plans. No Loan Party, (i) sponsors, maintains or contributes to (or is required to contribute to) any Pension
Plans or (ii) contributes to a Multiemployer Plan or has been required to contribute to a Multiemployer Plan or Pension Plan in the past six years. 

(h) Disclosure. No information, report, financial statement, exhibit or schedule furnished to the Lender by or on behalf of any Loan
Party or any of its Subsidiaries for use in connection with the transactions contemplated by this Agreement, taken as a whole, contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the
statements contained therein (taken as a whole) not misleading in any material respect in the light of the circumstances in which the same were made; provided that, to the extent any such information, report, financial statement, exhibit or schedule
was based upon or constitutes a forecast or projection, the Borrower represents and warrants only that it acted in good faith and utilized reasonable assumptions (based upon accounting principles consistent with the historical audited financial
statements of the
Borrowerapplicable
Loan Party) and due care in the preparation of such information, report, financial statement, exhibit or schedule, it being recognized by the Lender that such information as it relates to future
events is not to be viewed as fact and that actual results during the period or periods covered by such information may differ materially from the projected results set forth therein. As of the Amendment No. 4 Effective Date, all of the information included in the Beneficial Ownership Certification is true
and correct. 
 (i) Environmental Matters. Each Loan Party and its
Subsidiaries are in compliance with all Environmental Laws and no event or condition has occurred or is occurring with respect to such Loan Party or any of its Subsidiaries relating to any Environmental Law that has resulted in or could reasonably
be expected to result in claims alleging potential liability or 

  
 46 

 responsibility for violation of any Environmental Law or release or injury to the environment, or is or
could reasonably be expected to be the subject of any investigation, proceeding, settlement, except in each case violations and claims that, individually or in the aggregate, have not had and could not reasonably be expected to have a Material
Adverse Effect. Such Loan Party and its Subsidiaries have all Environmental Permits necessary for the ownership and operation of their respective properties and businesses as presently owned and operated and as presently proposed to be owned and
operated, except for those which are not yet necessary or the absence of which, individually, or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. Neither such Loan Party nor its Subsidiaries has transported or
arranged for the transport of any Hazardous Materials or any other materials subject to Environmental Laws to any environmental clean-up site which has not been in compliance with Environmental Laws, except for any noncompliance that, individually
or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 
 (j) Title to Properties; Liens; Location of
Real Property and Leased Premises. (i) Each Loan Party and its Subsidiaries have (A) good, sufficient and legal title to (in the case of fee interests) the real property owned by it, (B) valid leasehold interests in (in the case of
leasehold interests in real property) the real property leased by it
orand (C) good title to all of their
respective material personal property, as applicable.
Except as permitted by Section 6.02(a), all such properties are free and clear of Liens. (ii) Schedule 5.01(j)(ii) to the Disclosure Letter lists, as of the ClosingAmendment
No. 4 Effective Date, all real property owned by the Borrower and its Subsidiaries and the addresses thereof. (iii) Schedule 5.01(j)(iii) to the Disclosure Letter lists, as of
the
ClosingAmendment No. 4 Effective Date, each
parcel of real property leased, subleased, licensed or sublicensed by the Borrower and its Subsidiaries, the address and the owner thereof, and the expiration date of the related lease, sublease, license or sublicense. 

(k) Payment of Taxes. All income and other material tax returns and reports of each Loan Party and its Subsidiaries required to be filed
by any of them have been timely filed (or an extension has been obtained for the filing thereof), and all taxes shown on such tax returns to be due and payable and all assessments, fees and other governmental charges upon such Loan Party and its
Subsidiaries and upon their respective properties, assets, income, businesses and franchises that are due and payable have been paid when due and payable, except any of the foregoing that are being contested in good faith by appropriate proceedings
and with respect to which reserves or other appropriate provisions, if any, as shall be required in conformity with GAAP have been made or provided therefor. 

(l) Governmental Regulation. Neither any Loan Party nor any of its Subsidiaries is subject to regulation under the Investment Company
Act of 1940 or under any other Federal or state statute or regulation which may limit its ability to incur Debt or which may otherwise render all or any portion of the Obligations unenforceable. The Borrower isLoan Parties
are not engaged nor will the BorrowerLoan Parties engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the
meaning of Regulation U issued by the Board of Governors of the Federal Reserve System of the United States of America) in violation of Regulation T, U or X. 

  
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 (m) Licenses and Permits; Intellectual Property. Each Loan Party and its Subsidiaries
own or possess all licenses, permits, franchises, authorizations, patents, copyrights, service marks, trademarks and trade names, or rights thereto, necessary for the operation of their businesses, free and clear of all Liens (other than Permitted
Liens) and, except (i) as set forth on Schedule 5.01(m) to the Disclosure Letter, or (ii) as could not reasonably be expected to have a Material Adverse Effect, without known conflict with the rights of others. Except (A) as
set forth on Schedule 5.01(m) to the Disclosure Letter, or (B) as could not reasonably be expected to have a Material Adverse Effect, (i) to the knowledge of such Loan Party, no product of such Loan Party or its Subsidiaries
infringes in any material respect any license, permit, franchise, authorization, patent, copyright, service mark, trademark, trade name or other right owned by any other Person and (ii) to the knowledge of such Loan Party, there is no material
violation by any Person of any right of such Loan Party or any of its Subsidiaries with respect to any patent, copyright, service mark, trademark, trade name or other right owned or used by such Loan Party or any of its Subsidiaries. 

(n) Labor Disputes; Casualties. Neither any Loan Party nor any of its Subsidiaries is affected by any fire, explosion, accident, strike,
lockout, or other labor dispute, drought, storm, hail, earthquake, embargo, act of public enemy or other casualty (whether or not covered by insurance) which, individually or in the aggregate, has had or could be reasonably expected to have a
Material Adverse Effect. 
 (o) Compliance. Neither any Loan Party nor any of its Subsidiaries is in default in the performance of any
agreement or instrument to which it is a party or by which its properties are bound, or in violation of any law, in any case which defaults and violations, individually or in the aggregate, have had or could reasonably be expected to have a Material
Adverse Effect. 
 (p) Solvency. The Loan Parties on a consolidated basis are, and, upon thincurrence of, and after giving effect to,
any Obligations under the Loan Documents by the Loan Parties, will be, Solvent. 
 (q) Investments. No Loan Party has any investments
as described in Section 6.02(e) in other Persons except investments which would be permitted under Section 6.02(e). 
 (r) Debt.
No Loan Party has any Debt except Debt which would be permitted under Section 6.02(b). 
 (s) Equity Ownership; Subsidiaries.
Schedule 5.01(s) to the Disclosure Letter correctly sets forth the ownership interest of each Subsidiary of the Borrower as of the ClosingAmendment No. 4 Effective Date. As of the ClosingAmendment No. 4
Effective Date, the capitalization of the Borrower’s Subsidiaries consists of the number of Equity Interests, authorized, issued and outstanding, of such classes and series, with or without
par value, described on Schedule 5.01(s) to the Disclosure Letter. All outstanding Equity Interests of the Borrower’s Subsidiaries have been duly authorized and validly issued and are fully paid and nonassessable, in the case of Equity
Interests issued by a corporation, or duly issued and outstanding, in the case of Equity Interests issued by any other entity, and not subject to any preemptive or similar rights, except as described on Schedule 5.01(s) to the Disclosure
Letter. 

  
 48 

 As of the
ClosingAmendment
No. 4 Effective Date, there are no outstanding stock purchase warrants, subscriptions, options, securities, instruments or other rights of any type or nature whatsoever, which are convertible
into, exchangeable for or otherwise provide for or require the issuance of Equity Interests of any Subsidiary of the Borrower, except as described on Schedule 5.01(s) to the Disclosure Letter. All outstanding shares of the Borrower’s
capital stock have been duly authorized and validly issued and are fully paid and nonassessable. 
 (t) OFAC. Neither any Loan Party nor any of its Subsidiaries (i) is a person whose property or interest in property is blocked or subject to blocking pursuant to
Section 1 of Executive Order 13224 of September 23, 2011 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)), (ii) engages in dealings or
transactions prohibited by Section 2 of such executive order, or is otherwise associated with any such person in a manner violative of Section 2 or (iii) is a person on the list of Specially Designated Nationals and Blocked Persons or
subject to the limitations or prohibitions under any other U.S. Department of Treasury’s OFAC regulation or executive
order.[Reserved.]  

(u) Insurance. Each Loan Party and its properties and businesses, and the properties and businesses of its Subsidiaries, are insured
with financially sound and reputable insurance companies (which are not Loan Parties or Affiliates of the Loan Parties) against loss or damage as required by Section 6.01(e). 

(v) Negative Pledge. Neither the Borrower nor any of its Subsidiaries is a party to or bound by any agreement or undertaking or security
which prohibits the creation or existence of any Lien upon any of its properties or assets or which requires the grant of security for an obligation if security is granted for the Obligations, except for (i) this Agreement and the other Loan
Documents, (ii) covenants in Capital Leases and documents creating Liens permitted by Section 6.02(a) which prohibit further Liens on the properties encumbered thereby and (iii) any other agreement or undertaking permitted by
Section 6.02(j). 
 (w) Security Documents. The Security Documents are effective to create in favor of the Lender a legal, valid
and enforceable security interest in the Collateral described therein (including any proceeds of any item of such Collateral). In the case of (i) the Pledged Shares described in the Security Agreement, when any stock certificates or notes, as
applicable, representing such Pledged Shares are delivered to the Lender and (ii) the other Collateral described in the Security Documents, when a financing statement in appropriate form is filed in the applicable filing office (which financing
statement has been duly completed and delivered to the Lender), the Lender shall have a fully perfected first priority Lien on, and security interest in, all right, title and interest of the applicable Loan Party in such Collateral (including any
proceeds of any item of such Collateral) (in each case, to the extent a security interest in such Collateral and proceeds can be perfected through the filing of a financing statement in such filing office or through the delivery of such Pledged
Shares), as security for the Secured Obligations, in each case prior and superior in right to any other Person, except Liens expressly permitted by Section 6.02(a). 

  
 49 

 (x)
Compliance with Anti-Corruption Laws; Beneficial Ownership Regulation, Anti-Money Laundering Laws and Sanctions. None of the Borrower or any of its Subsidiaries nor, to the knowledge of the Borrower, any director, officer, employee, agent or Affiliate of the Borrower or any of its Subsidiaries is a Person that is, or is owned or controlled by Persons that are,
(i) the subject of any sanctions administered or enforced
by OFAC, the US Department of State, the United Nations Security Council, the European Union, Her Majesty’s Treasury or the Hong Kong Monetary
Authority (collectively, “Sanctions”), or (ii) located, organized or resident in a country or territory that is, or whose government is, the subject of Sanctions, including, without limitation, currently, the Crimea Region, Cuba, Iran, North Korea, Sudan and Syria. 

(i)
 None of (i) the Borrower, any Subsidiary or, to the knowledge of the
Borrower or such Subsidiary, any of their respective directors, officers, employees or Affiliates, or
(ii) to the knowledge of the Borrower, any agent or representative of the Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the Loans or the Letters of Credit, (A) is a Sanctioned Person or
currently the subject or target of any Sanctions, (B) has its assets located in a Sanctioned Country, (C) is under administrative, civil or criminal investigation for an alleged violation of, or received notice from or made a voluntary
disclosure to any governmental entity regarding a possible violation of, Anti-Corruption Laws, Anti-Money Laundering Laws or Sanctions by a governmental authority that enforces Sanctions or any Anti-Corruption Laws or Anti-Money Laundering Laws, or
(D) directly or indirectly derives revenues from investments in, or transactions with, Sanctioned Persons.  

(ii)
 Each of the Borrower and its Subsidiaries has implemented
and maintains in effect policies and procedures designed to ensure compliance by the Borrower and its Subsidiaries and their respective directors, officers, employees, agents and Affiliates with all Anti-Corruption Laws, Anti-Money Laundering Laws
and applicable Sanctions. 
 (iii) Each of the Borrower and its Subsidiaries, and to the knowledge of the Borrower, director, officer, employee, agent and
Affiliate of Borrower and each such Subsidiary, is in compliance with all Anti-Corruption Laws, Anti-Money Laundering Laws in all material respects and applicable Sanctions. 

(iv)
 No proceeds of any Loans or the Letters of Credit have
been used, directly or indirectly, by the Borrower, any of its Subsidiaries or any of its or their respective directors, officers, employees and agents in violation of Section 6.02(r). 

(y) Anti-Bribery. None of the Borrower, nor to the knowledge
of the Borrower, any director, officer, agent, employee, Affiliate or other person acting on behalf of the Borrower or any of its Subsidiaries is aware
of or has taken any action, directly or indirectly, that would result in a violation by such persons of any applicable anti-bribery law, including but
not limited to, the United Kingdom Bribery Act 2010 (the “UK Bribery Act”) and the U.S. Foreign Corrupt Practices Act of 1977 (the “FCPA”). Furthermore,
the Borrower and, to the knowledge of the Borrower, its Affiliates have conducted their businesses in compliance with the UK Bribery Act, the FCPA and similar laws, rules or regulations and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith.[Reserved.]  

  
 50 

 (z) Beneficial Ownership. Unless the Lender has otherwise received the notice
contemplated by Section 6.01(b)(iv), the Borrower is an issuer of a class of securities registered under Section 12 of the Exchange Act, is required to file reports under Section 15(d) of the Exchange Act and/or has common
stock listed on the New York Stock Exchange, and is excluded on those bases from the definition of “legal entity customer” as defined in the Beneficial Ownership Regulation, and each other Loan Party is owned by the Borrower. 

ARTICLE VI. 
 COVENANTS

 Section 6.01 Affirmative Covenants. So long as the Note or any Obligation (other than inchoate indemnity obligations)
hereunder and under the other Loan Documents shall remain unpaid or the Lender shall have any Commitment hereunder, unless the Lender shall otherwise consent in writing: 

(a) Financial Information. The Borrower will furnish to the Lender: 

(i) as soon as available, but in any event within ninety (90) days after the end of each Fiscal Year, a copy of the
audited consolidated financial statements of the Borrower and its Subsidiaries as at the end of such Fiscal Year, including a balance sheet and related statements of income and cash flows, accompanied by a report and opinion thereon (prepared in
accordance with generally accepted auditing standards) of Ernst & Young LLP or other independent certified public accountants reasonably acceptable to the Lender (which report and opinion shall be unqualified as to going concern and scope
of audit); 
 (ii) as soon as available, but in any event within forty-five (45) days after each of the first three
Fiscal Quarters of each Fiscal Year, a copy of the unaudited consolidated financial statements of the Borrower and its Subsidiaries for such period; 

all such financial statements referred to in clauses (i) – (ii) to fairly present in all material respects the financial
condition and results of operations of the Borrower and its Subsidiaries and to be in reasonable detail and in accordance with GAAP (subject in the case of quarterly financials to changes resulting from normal year-end adjustments and the absence of
footnotes); and 
 (iii) as soon as available, but in any event within forty-five (45) days after the end of each Fiscal
Quarter, a complete and accurate Accounts Receivable agings report in form satisfactory to the Lender, calculated as of the last day of such Fiscal Quarter; and 

  
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 (iv) as soon as available, but in any event within sixty (60) days
after the beginning of each Fiscal Year, management projected year-end consolidated financial statements of the Borrower and its Subsidiaries for such Fiscal Year, including a projected balance sheet and related statements of income and cash flows
and a statement of all the material assumptions on which such projections are based. 
 (b) Notices and Information. The Borrower
shall deliver to the Lender: 
 (i) promptly upon any senior officer of the Borrower obtaining actual knowledge (w) of
any condition or event which constitutes an Event of Default or Potential Event of Default, (x) that any Person has given any notice to any Loan Party or any of its Subsidiaries or taken any other action with respect to a claimed default or
event or condition of the type referred to in Section 7.01(e), (y) of the institution of any litigation involving an alleged liability (including possible forfeiture of property) of any Loan Party or any of its Subsidiaries equal to or
greater than
$5,000,00010,000,000
 with respect to any such Person, or any adverse determination in any litigation involving a potential liability of any Loan Party or any of its Subsidiaries equal to or greater than $5,000,00010,000,000
 with respect to any such Person, in each case to the extent not covered by insurance, or (z) of a condition or events that could reasonably be expected to cause a Material Adverse Effect, an
officers’ certificate specifying the nature and period of existence of any such condition or event, or specifying the notice given or action taken by such holder or Person and the nature of such claimed default, Event of Default, Potential
Event of Default, event or condition, and what action the Borrower or the applicable Subsidiary has taken, is taking and proposes to take with respect thereto; 

(ii) promptly, and in any event within thirty (30) days after receipt thereof, a copy of any notice, summons, citation,
directive, letter or other form of communication from any governmental authority or court in any way concerning any action or omission on the part of such Loan Party or any of its Subsidiaries in connection with any Hazardous Material or any waste
or by product thereof, or concerning the filing of a Lien upon, against or in connection with such Loan Party or such Subsidiary, or any of their leased or owned real or personal property, in connection with a Hazardous Substance Superfund or a
Post-Closure Liability Fund as maintained pursuant to Section 9507 of the Internal Revenue Code, in each case which could reasonably be expected to have a Material Adverse Effect; 

(iii) concurrently with any delivery of financial statements under clause (a)(i) or (a)(ii) above, a Compliance Certificate
duly executed by the Chief Financial Officer of the Borrower that, among other things, (x) shows in reasonable detail the calculations used in determining the financial covenants set forth in Section 6.03(a) and in Section 6.03(b) as of the end of such Fiscal Quarter, as applicable, and (y) states that no
Potential Event of Default or Event of Default is continuing as of the date of delivery of such Compliance Certificate or, if a Potential Event of Default or Event of Default is continuing, states the nature thereof and the action that the Loan
Parties propose to take with respect thereto; 

  
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 (iv) (I) promptly following any change that would result in the Borrower
ceasing to fall within an express exclusion to the definition of “legal entity customer” under the Beneficial Ownership Regulation, the Borrower shall execute and deliver to the Lender a Certification of Beneficial Owner(s) complying with
the Beneficial Ownership Regulation, in form and substance reasonably acceptable to the Lender and (II) thereafter (A) concurrently with any delivery of financial statements under clause (a)(i) or (a)(ii) above, notify the Lender of any change
in the information provided in the Beneficial Ownership Certification that would result in a change to the list of beneficial owners identified therein and (B) if reasonably requested by the Lender, promptly and in no event later than five
(5) Business Days after such request, provide the Lender any information or documentation requested by it for purposes of complying with the Beneficial Ownership Regulation; 

(v) promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other
materials filed by the Borrower or any Subsidiary with the SEC, or with any national securities exchange, or distributed to its stockholders, as the case may be; 

(vi) promptly upon receipt thereof, copies of all material reports submitted to the Borrower by its independent certified
public accountants in connection with each annual audit examination of the Borrower and its Subsidiaries made by such accountants, including the “management letter” submitted by such accountants to the Borrower in connection with their
annual audit and any written management responses thereto, and copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any actual investigation or indicating a
likely investigation by such agency regarding financial or other operational results of the Borrower or any Subsidiary thereof; and 

(vii) promptly, and, to the extent practicable, within ten (10) Business Days after request by the Lender, such other
information and data with respect to the Borrower or any of its Subsidiaries as from time to time may be reasonably requested by the Lender. 
 Documents
required to be delivered pursuant to Section 6.01(a)(i) or (ii) or Section 6.01(b)(v) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall
be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at;
https://www.boxinvestorrelations.com/financial-information/sec-filings/default.aspx or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which the Lender has access; provided
that: (x) the Borrower shall deliver paper copies of such documents to the Lender if the Lender so requests until a written request to cease delivering paper copies is given by the Lender and (y) the Borrower shall notify the Lender (by
facsimile, electronic mail, automatic electronic notification or other form of notification acceptable to the Lender) of the posting of any such documents. 

  
 53 

 (c) Corporate Existence. Except as otherwise permitted under Section 6.02(d) or
6.02(f), each Loan Party shall, and shall cause each of its Subsidiaries to, at all times, preserve and keep in full force and effect (i) its corporate, limited liability company or partnership, as applicable, existence and (ii) rights and
franchises material to its business; provided that any Subsidiary that is not a Loan Party may liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution is in the best interests of the Borrower and is not
materially disadvantageous to the Lender. 
 (d) Payment of Taxes and Claims. Each Loan Party shall, and shall cause each of its
Subsidiaries to, pay all federal income taxes and material state and local taxes, assessments and other governmental charges imposed upon it or any of its properties or assets or in respect of any of its franchises, business, income or property
before any penalty or fine accrues thereon, except for any of the foregoing that are being contested in good faith by appropriate proceedings promptly instituted and diligently conducted and (i) with respect to which reserves or other
appropriate provisions, if any, as shall be required in conformity with GAAP have been made or provided therefor and (ii) in the case of a tax, assessment, or charge which has or may become a Lien against any of the Collateral, such proceedings
conclusively operate to stay the sale of any portion of the Collateral to satisfy such tax, assessment, or charge. 
 (e) Maintenance of
Properties; Insurance. Except as could not reasonably be expected to have a Material Adverse Effect, each Loan Party shall, and shall cause each of its Subsidiaries to, maintain or cause to be maintained in good repair, working order and
condition (other than wear and tear occurring in the ordinary course of business) all properties used in the business of such Loan Party and its Subsidiaries and from time to time will make or cause to be made all appropriate repairs, renewals and
replacements thereof which in the exercise of its reasonable business judgment are required for the continuation of its business. Each Loan Party will, and will cause each of its Subsidiaries to, maintain or cause to be maintained, with financially
sound and reputable insurance companies (which are not Affiliates of the Loan Parties), insurance with respect to its properties and business and the properties and businesses of its Subsidiaries against loss or damage of the kinds customarily
insured against by corporations of established reputation engaged in the same or similar businesses and similarly situated, of such types and in such amounts (and with such deductibles) as are customarily carried under similar circumstances by such
other corporations. 
 (f) Use of Proceeds. The Borrower shall only use the proceeds of the Loans as permitted under
Section 3.01. 
 (g) Compliance with Laws, Etc. Each Loan Party shall exercise, and cause each of its Subsidiaries to exercise,
all due diligence in order to comply with the requirements of all applicable laws, rules, regulations and orders of any governmental authority, including, without limitation, all Environmental Laws, noncompliance with which could reasonably be
expected to cause, either individually or in the aggregate, a Material Adverse Effect. 
 (h) Books and Records. Each Loan Party
shall, and shall cause each of its Subsidiaries to, maintain proper records and accounts in which full, true and correct entries in conformity with GAAP, consistently applied, shall be made of its financial transactions and matters involving the
assets and business of such Loan Party and its Subsidiaries. 

  
 54 

 (i) OFAC,
Etc. Without limiting clause (g) above, each Loan Party shall, and shall cause each of its Subsidiaries to, (i) ensure that no Person who
owns a controlling interest in or otherwise controls a Loan Party is or shall be (x) listed on the Specially Designated Nationals and Blocked Person List maintained by OFAC and/or any other similar lists maintained by OFAC pursuant to any
authorizing statute, Executive Order or regulation or (y) a person designated under Section 1(b), (c) or (d) of Executive Order No. 13224 (September 23, 2001), any related enabling legislation or any other similar Executive
Orders, and (ii) comply with all applicable Bank Secrecy Act and anti-money laundering laws and regulations.
OFAC, Etc. Without limiting clause (g) above, each Loan Party shall, and shall cause each of its
Subsidiaries to, (i) maintain in effect and enforce policies and procedures designed to promote and achieve compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with all Anti-Corruption
Laws, Anti-Money Laundering Laws and applicable Sanctions, (ii) notify the Lender of any change in the information provided in a Beneficial Ownership Certification received by the Lender that would result in a change to the list of beneficial
owners identified therein (or, if applicable, of the Borrower ceasing to fall within an express exclusion to the definition of “legal entity customer” under the Beneficial Ownership Regulation) and (iii) promptly upon the reasonable
request of the Lender, provide the Lender any information or documentation requested by it for purposes of complying with the Beneficial Ownership Regulation.  

(j) Payment of Obligations. Each Loan Party shall, and shall cause each of its Subsidiaries to, pay all obligations and lawful claims
(including, without limitation, claims for labor, services, materials and supplies) that, if unpaid, would become a Lien for a material amount against any of its properties or assets, except for any such obligations being contested in good faith by
appropriate proceedings diligently conducted and against which adequate reserves, if any required under GAAP, have been established, and so long as any Lien resulting therefrom has not become enforceable or is the subject of proceedings that operate
to stay the enforcement of such Lien. 
 (k) Material Licenses. Each Loan Party shall, and shall cause each of its Subsidiaries to,
maintain and preserve all licenses, permits (including Environmental Permits), authorizations and consents from any Person and all registrations, notices and filings with any Person (i) which if not obtained, held or made would have a Material
Adverse Effect or (ii) that is necessary for the execution or performance by such Loan Party or such Subsidiary, or the validity or enforceability against such party, of this Agreement or any other Loan Document. 

(l) Environmental Matters. Except as could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse
Effect, each Loan Party shall, and shall cause each of its Subsidiaries to, (i) comply, and cause all lessees and other Persons operating or occupying properties owned or leased by it to comply, with all Environmental Laws and Environmental
Permits, (ii) obtain and renew all Environmental Permits necessary for its operations and properties and (iii) conduct any investigation, study, sampling and testing, and undertake any cleanup, removal, remedial or other action necessary
to address Hazardous Materials at, on, under or emanating from any properties owned or leased by it in accordance with the requirements of all Environmental Laws. 

  
 55 

 (m) Subsidiaries. (i) From and after the Closing Date, if the Borrower or any of
its Subsidiaries acquires or creates any Domestic Subsidiary (other than a Domestic Subsidiary of a Foreign Subsidiary that is a CFC) that is a Material Subsidiary (and, at the election of the Borrower, any other Domestic Subsidiary), promptly, and
in no event later than twenty (20) Business Days after such acquisition or creation, notify the Lender of that fact and cause such Domestic Subsidiary (A) to execute and deliver to the Lender a counterpart of the Subsidiary Guarantee and
the Security Agreement and to take all such further actions and execute all such further documents and instruments as may be reasonably requested by the Lender to create in favor of the Lender a valid and perfected first priority Lien in all of the
Collateral of such Domestic Subsidiary (subject to Permitted Liens), and (B) to execute and deliver to the Lender such documents and instruments and to take actions comparable to those described in clauses (ii), (iii), (iv), (v) (vi),
(vii), (xii), (xiii), (xiv) and (xvi) of Section 4.01(a) as the Lender may reasonably request. (ii) For each Subsidiary acquired or created after the Closing Date, each Loan Party shall have complied with its obligations under
the Security Agreement in respect of the Equity Interests of such Subsidiary. For the avoidance of doubt, no Foreign Subsidiary (or Domestic Subsidiary of a Foreign Subsidiary that is a CFC) shall be required to execute and deliver a Guaranty or
Security Agreement, and no equity interests of a Foreign Subsidiary (or Domestic Subsidiary of a Foreign Subsidiary that is a CFC) shall be required to be pledged pursuant to the provisions of the Security Agreement or otherwise, in each case to the
extent material adverse tax consequences to the Borrower could reasonably be expected to result therefrom, it being understood and agreed that a pledge by the Borrower or its Domestic Subsidiary of 65% of the voting power and 100% of the non-voting
power of all classes of the Equity Interests of a Foreign Subsidiary (or Domestic Subsidiary of Foreign Subsidiary that is a CFC) will not cause material adverse tax consequences to Borrower and a pledge by the Borrower or its Domestic Subsidiary of
more than 65% of the voting power of all classes of the Equity Interests of a Foreign Subsidiary (or Domestic Subsidiary of a Foreign Subsidiary that is a CFC) will be deemed to cause material adverse tax consequences to Borrower. 

(n) Employee Benefit Plans. No Loan Party shall, (i) establish a Pension Plan or (ii) contribute to or become required to
contribute to a Multiemployer Plan. 
 (o) Access to Property and Inspections. Each Loan Party shall, and shall cause its Subsidiaries
to, at the Borrower’s sole cost and expense, permit the Lender and each of its duly authorized representatives or agents to visit (but only during normal business hours when no Event of Default has occurred and is continuing) any of its
properties and inspect any of its assets or books and records, to conduct appraisals and valuations, to examine and make copies of its books and records, and to discuss its affairs, finances and accounts with, and to be advised as to the same by,
its officers and employees at any such reasonable times and intervals as the Lender may reasonably request and, so long as no Event of Default or Potential Event of Default has occurred and is continuing, with reasonable prior notice to the
Borrower; provided that, so long as no Event of Default or Potential Event of Default has occurred and is continuing, the Lender shall not request more than one field visit and examination during any Fiscal Year. 

(p) Business Locations. Each Loan Party shall promptly (but in no event more than thirty (30) days) after adding any new leased
business location in the United States containing any assets (excluding leasehold improvements and any raw materials related thereto) of any Loan Party with a book value in excess of $3,000,000 individually for any location or 

  
 56 

 $5,000,000 for all locations with respect to which the applicable landlord has not executed and delivered a
Landlord Subordination Agreement, notify the Lender of such fact, and, if requested by the Lender, use its reasonable best efforts to cause the applicable landlord to enter into a Landlord Subordination Agreement with respect to each such location
as requested by the Lender. For the avoidance of doubt, this Section 6.01(p) shall not apply to facilities utilized by the Borrower or its Subsidiaries solely as data centers for its server equipment. 

(q) Accounts. Each Loan PartyThe Borrower and its Subsidiaries shall maintain its primaryno less than
40% of the aggregate balance of their U.S. depository and operating accounts with
Lender at all times. 

(r) Post-Closing Matters. Execute and deliver the documents and complete the tasks set forth on Schedule 6.01(r), in each case
within the time limits specified on such schedule. 
 (s) Further Assurances. Each Loan Party shall execute any and all further
documents, financing statements, agreements and instruments, and take all such further actions, which the Lender may reasonably request, to cause the Lender to have at all times a first priority, perfected Lien in the Collateral (subject to
Permitted Liens). 
 Section 6.02 Negative Covenants. So long as any Note or Obligation (other than inchoate
indemnity obligations) hereunder and under the other Loan Documents shall remain unpaid or the Lender shall have any Commitment hereunder, without the written consent of the Lender: 

(a) Liens, Etc. Borrower shall not, and shall not permit any of its Subsidiaries to, create or suffer to exist any Lien upon or with
respect to any of its assets or properties, whether now owned or hereafter acquired, or assign any right to receive income, in each case to secure any Debt of any Person, other than (in each case, a “Permitted Lien”): 

(i) Liens in favor of the Lender; 

(ii) Liens existing on the
ClosingAmendment No. 4 Effective Date and
listed on Schedule 6.02(a) to the Disclosure Letter and any modifications, replacements, renewals, refinancings or extensions thereof; provided that the Lien does not extend to any additional property other than (A) Replacement
Assets, and (B) proceeds and products thereof; 
 (iii) carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business or by operation of law, and Liens incurred by the Borrower or such Subsidiary in the ordinary course of business in connection with worker’s
compensation, unemployment insurance and other types of social security, or to secure the performance of surety and appeal bonds, deeds, leases (other than Debt), government contracts, bids, trade contracts, statutory obligations, performance and
return of money bonds and other similar obligations; 

  
 57 

 (iv) Liens or charges arising in favor of governmental authorities by
operation of law for which no default exists in the payment of the obligations secured thereby or which are being contested in compliance with Section 6.01(d); 

(v) Liens arising under (A) the security documents in respect of Hedge Agreements permitted under
Section 6.02(b)(iii) in favor of the Lender or its Affiliates and (B) agreements relating to Cash Management Obligations in favor of the Lender or its Affiliates; 

(vi) Capital Leases of, and security interests in, assets acquired, constructed or improved (whether real or personal, tangible
or intangible) by the Borrower or such Subsidiary after the date hereof, provided that such Liens and the Debt secured thereby (A) are incurred prior to or within 180 days after such acquisition or the completion of such construction or
improvement, (B) the Debt secured thereby does not exceed the cost of acquiring, constructing or improving such assets and is otherwise permitted by Section 6.02(b)(ii), and (C) such Liens shall not apply to any other property or
assets of the Borrower or such Subsidiary (other than Replacement Assets); 
 (vii) Liens of landlords and mortgagees of
landlords arising by statute; 
 (viii) judgment Liens securing judgments and other proceedings not constituting an Event of
Default hereunder; 
 (ix) Liens existing on (A) property acquired by such Loan Party or Subsidiary at the time of such
acquisition or (B) assets of a Person at the time such Person is acquired, so long as (1) the Lien was not created in contemplation of such acquisition, (2) the amount of the obligations secured thereby has not been increased in
connection with such acquisition or at any time thereafter (except in connection with any Permitted Refinancing), (3) any such Lien does not extend to property not subject to such Lien at the time of such acquisition (other than improvements
thereon and Replacement Assets), any such Lien is applicable only to specific property, and such Liens are not “blanket” or all asset Liens, and (4) such Lien secures only (x) those obligations which it secures on the date of
such acquisition or the date such Person is acquired, as the case may be, and such obligations are otherwise permitted by Section 6.02(b)(vii) and (y) any Permitted Refinancing of such obligations; 

(x) to the extent constituting a Lien, any interest or title of (i) a lessor under any personal property operating lease
entered into in the ordinary course of business of the Borrower or any Subsidiary and precautionary financing statement filings relating thereto and (ii) a licensor under any non-exclusive license entered into in the ordinary course of business
of the Borrower or any Subsidiary; 
 (xi) zoning restrictions, easements, rights-of-way, restrictions on use of real
property and other similar encumbrances incurred in the ordinary course of business which, in the aggregate, are not substantial in amount and do not in any case materially detract from the value of the property subject thereto or interfere with the
ordinary conduct of the business of the Borrower or any of its Subsidiaries; 

  
 58 

 (xii) Liens on assets of Foreign Subsidiaries; provided that
(A) such Liens do not extend to, or encumber, assets that constitute Collateral or the Equity Interests of the Borrower or any of the other Loan Parties, and (B) such Liens extending to the assets of any Foreign Subsidiary secure only Debt
incurred by such Foreign Subsidiary pursuant to Section 6.02(b)(vi), (vii) or (xi); 
 (xiii)(A) Liens of a
collecting bank arising in the ordinary course of business under Section 4-210 of the Uniform Commercial Code in effect in the relevant jurisdiction and (B) Liens arising in the ordinary course of business of any depositary bank or
securities intermediary in connection with statutory, common law and customary contractual rights of set-off and recoupment with respect to any deposit account or securities account of the Borrower or any Subsidiary thereof; 

(xiv) Liens on cash pledged to secure (i) obligations in respect of letters of credit or banker’s acceptances
permitted under Section 6.02(b)(x) or (ii) Cash Management Obligations permitted under Section 6.02(b)(v); 

(xv) Liens on proceeds of insurance policies securing the financing of the premiums with respect thereto; 

(xvi) Liens in favor of a seller solely on any cash earnest money deposits made by the Borrower or any of its Subsidiaries in
connection with any letter of intent or purchase agreement with respect to any Permitted Acquisition or other investment permitted by Section 6.02(e); 

(xvii) leases, non-exclusive licenses, subleases or non-exclusive sublicenses granted to others that do not interfere in any
material respect with the business of the Borrower and its Subsidiaries, taken as a whole; and 
 (xviii) other Liens not
specifically listed above securing obligations not to exceed
$5,000,00010,000,000
 in the aggregate at any time outstanding. 
 (b) Debt. Borrower shall not,
and shall not permit any of its Subsidiaries to, create or suffer to exist any Debt, other than: 
 (i) Debt owed to the
Lender; 
 (ii) Capital Leases and Debt incurred to finance the acquisition, construction or improvement of any equipment or
capital assets in an aggregate principal amount not to exceed $200,000,000 at any time outstanding;

  
 59 

 (iii) obligations (contingent or otherwise) existing or arising under any
Hedge Agreement, provided that if such obligations are not with the Lender or any of its Affiliates, (x) such obligations are (or were) entered into by such Loan Party in the ordinary course of business for the purpose of directly mitigating
risks associated with fluctuations in interest rates or foreign exchange rates and (y) such Hedge Agreement does not contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to
the defaulting party; 
 (iv) to the extent constituting Debt, investments permitted under Section 6.02(e), including
intercompany Debt of the Borrower and the Subsidiaries to the extent permitted by Section 6.02(e); provided that any such Debt that is owed by a Loan Party to a Subsidiary that is not a Loan Party is subordinated to the Obligations on
the terms satisfactory to the Lender; 
 (v) Cash Management Obligations, provided that if such Cash Management
Obligations are not with the Lender or any of its Affiliates, to the extent incurred in the ordinary course of business in a manner not prohibited by this Agreement; 

(vi) Debt existing on the date of this
AgreementAmendment No. 4 Effective Date and set forth on Schedule 6.02(b) to the Disclosure Letter, together with any Permitted
Refinancing; 
 (vii) Debt assumed in connection with a Permitted Acquisition, so long as such Debt (A) does not
exceed
$5,000,00010,000,000
 in the aggregate at any time outstanding and (B) was not incurred in contemplation of such Permitted Acquisition; 

(viii) Debt under performance bonds, surety bonds, release, appeal and similar bonds, statutory obligations or with respect to
workers’ compensation claims, in each case incurred in the ordinary course of business; 
 (ix) Guaranties with respect
to Debt permitted by this Section; 
 (x) Debt in respect of letters of credit or bankers’ acceptances supporting
facility leases in an aggregate principal or face amount not exceeding $5,000,000 at any time; 
 (xi) Debt secured by Liens
permitted by Sections 6.02(a)(iii), (iv), (vii), 
 (viii) , (x), (xi), and (xiii); 

(xii) Debt of the Borrower or any of its Subsidiaries arising from the honoring by a bank or other financial institution of a
check, draft or similar instrument inadvertently drawn by the Borrower or such Subsidiary in the ordinary course of business against insufficient funds; 

(xiii) Debt in the form of earn-outs in respect of any Permitted Acquisition or any other investments permitted by
Section 6.02(e) and Debt which may be deemed to exist in connection with agreements providing for indemnification, purchase price adjustments and similar obligations or guarantees, in each case incurred or assumed in
connection with the acquisition or disposition of any assets permitted by this Agreement; 

  
 60 

 (xiv) Debt owing to any insurance company in connection with the financing
of any insurance premiums permitted by such insurance company in the ordinary course of business; 
 (xv) unsecured Debt constituting,
including Convertible Debt Securities of the Borrower, not otherwise permitted pursuant to this Section, in
an aggregate principal amount not to exceed the greater of (x) $350,000,000 and (y) immediately after giving pro forma effect to the incurrence of such Debt, an amount that would not cause the Total Leverage Ratio (calculated to include
the proposed Debt contemplated under this Section 6.02(b)(xv)) to exceed 6.00 to 1.00 (based on the financial statements for the most recent fiscal quarter end for which financial statements have been provided), which
may be incurred on a one-time basis (and which may be refinanced pursuant to a Permitted Refinancing)provided that, in each case, that complies with each of clauses (A)-(F) below; provided that (A) immediately
after giving effect to the incurrence of such Debt, the Borrower shall be in compliance with the financial covenants set forth in Section 6.03, on a pro forma
basis (based on the financial statements for the most recent
fiscal quarter end for which financial statements have been provided), (B) the final
maturity of such Debt shall not be prior to the date that is one-hundred eighty (180) days after the Maturity Date, (C) such Debt will not have mandatory prepayment, amortization, redemption, sinking fund or similar prepayments (other than
asset sale, casualty, condemnation, nationalization or extraordinary receipts events, change of control, fundamental change, make-whole fundamental change or similar event risk provisions providing for mandatory offers to repurchase customary for
debt securities, and, for the avoidance of doubt, any Net Share Settlement provisions) prior to the date that is one-hundred eighty (180) days after the Maturity Date at the time of the issuance of such Debt, (D) such Debt is not guaranteed by
any Subsidiary that has not guaranteed the Obligations, (E) the covenants, events of default and other terms of such Debt, taken as a whole, are not more restrictive on Borrower and its Subsidiaries than the terms of the Loan Documents, taken
as a whole (as determined in good faith by Borrower, it being understood that (1) customary repurchase or redemption obligations described in the parenthetical to clause (C) above and (2) customary additional interest provisions for
failure to file required reports or additional interest in lieu of customary events of default, in each case shall not be more restrictive), and (F) no Event of Default shall have occurred and be continuing or result from the incurrence of such
Debt; 
 (xvi) “Purchase Obligations” of the type described in the “Contractual Obligations and
Commitments” section of the “Liquidity and Capital Resources” disclosure set forth in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of the
Borrower’s Annual Report on Form 10-K for the fiscal year ended January 31, 2020 (the “2020 Form  

  
 61 

 10-K”) incurred in the ordinary course of business; provided that the aggregate
principal amount of such “Purchase Obligations” due within three years (as denoted by the columns “Less than 1 Year” and “1-3 Years” in the 2020 Form 10-K), measured as of the date of each Form 10-K or Form 10-Q filed
during the term of this Agreement, shall not exceed
$120,000,000350,000,000
; and 
 (xvii) Debt not otherwise permitted under this
Section 6.02(b) in an aggregate principal amount not to exceed
$5,000,00010,000,000
 at any time outstanding for such Loan Parties and their Subsidiaries taken as a whole. 

(c) Restricted Payments. Borrower shall not, and shall not permit any of its Subsidiaries to, declare or make, or agree to declare or
make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so; except: 

(i) any Subsidiary may declare and pay dividends or make other distributions ratably to its equity holders; 

(ii) payments made or expected to be made by the Borrower in respect of withholding or similar Taxes payable by any future,
present or former employee, director, manager or consultant and any repurchases of Equity Interests in consideration of such payments including deemed repurchases in connection with the exercise of stock options or the vesting of restricted stock
awards or restricted stock units; 
 (iii) so long as no Event of Default or a Potential Event of Default shall have occurred
and be continuing or would result therefrom, the Borrower may repurchase its Equity Interests owned by employees of the Borrower or the Subsidiaries or make payments to employees of the Borrower or the Subsidiaries upon termination of employment in
connection with the exercise of stock options, stock appreciation rights or similar equity incentives or equity based incentives pursuant to management or employee incentive plans or in connection with the death or disability of such employees in an
aggregate amount not to exceed
$2,000,0005,000,000
 in any Fiscal Year; 
 (iv) the Borrower and its Subsidiaries may
declare and pay dividends or make other distributions solely in Qualified Equity Interests of such Person; 
 (v) the
Borrower may deliver its Equity Interests upon
conversationconversion
 of any Equity Interest and pay cash solely in lieu of issuing fractional shares in connection with such
conversion; and 

(vi) to the extent it would constitute a Restricted Payment, the purchase or settlement of any Permitted Call Hedging
Agreement;  

(vii)
 the Borrower may (x) accrue dividends with respect to
the Series A
Convertible Preferred Stock, (y) repurchase common Equity Interests of the Borrower with the proceeds
of the issuance of the Series A Convertible Preferred Stock and (z) convert the Series A Convertible Preferred Stock into
common
stock of the Borrower and pay cash in lieu of fractional shares in connection therewith; and 

  
 62 

(viii)
 Borrower and its Subsidiaries may make Restricted
Payments not otherwise permitted by one of the foregoing clauses of this Section 6.02(c); provided
that, (w) immediately before and immediately after giving effect to any such payment, no Potential Event of Default or Event of Default shall have occurred and be continuing, (x) immediately after giving effect to any such payment, Senior
Secured Leverage Ratio shall not exceed 2.25:1.00 on a pro forma basis and Total Leverage Ratio shall not exceed 5.50:1.00 on a pro
forma basis. 

(d) Consolidation, Merger. The Borrower shall not, and shall not permit its Subsidiaries to, consolidate with or merge into any other
corporation or entity, except that (i) if at the time thereof and immediately after giving effect thereto no Event of Default or Potential Event of Default shall have occurred and be continuing, (x) any Subsidiary may merge into the
Borrower in a transaction in which the Borrower is the surviving corporation, and (y) any Subsidiary may merge into or consolidate with any other Subsidiary (provided that if any party to any such transaction is a Loan Party, the surviving
entity of such transaction shall be a Loan Party) and (ii) in connection with a Permitted Acquisition, any corporation or entity may consolidate with or merge into any Loan Party or any Loan Party (other than the Borrower) may merge into any
other corporation or entity, provided that such Loan Party shall be the surviving entity of such merger or consolidation or the surviving entity of such merger or consolidation shall become a Loan Party promptly following the consummation thereof,
and provided, further, that immediately after the consummation of such consolidation or merger there shall exist no condition or event which constitutes an Event of Default or a Potential Event of Default. 

(e) Loans, Investments. The Borrower shall not, and shall not permit its Subsidiaries to, make or permit to remain outstanding any loan
or advance to, or own, purchase or acquire any stock, obligations or securities of or any other interest in, or make any capital contribution to, any other Person or make any acquisition of all or substantially all of the stock or assets of any
business or division of a Person through a merger, consolidation or any other combination with such Person in any transaction or a series of related transactions, except that the Borrower and such Subsidiary may: 

(i) acquire any Cash Equivalents; 

(ii) acquire and own stock, securities and other investments received from customers and suppliers in connection with debts
created in the ordinary course of business owing to such Loan Party or such Subsidiaries; 
 (iii) endorse negotiable
instruments for deposit or collection or similar 
 transactions in the ordinary course of business; 

 

  
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 (iv) consummate a Permitted Acquisition, provided that the aggregate amount of consideration (other than consideration payable in
Qualified Equity Interests) expended to acquirefor any acquisition of Persons or assets that do not become Loan Parties or Collateral, respectively, shall not exceed $10,000,000 during the term
of this Agreementafter giving pro forma effect to such acquisition, (A) such Persons or assets so
acquired shall not account for greater than 2.5% of the consolidated revenues of the Borrower and its Subsidiaries for the four fiscal quarter period ending on the last day of the most recent Fiscal Quarter for which financial statements have been
delivered pursuant to Section 6.01(a)(i) or Section 6.01(a)(ii) and (B) all such Persons or assets so acquired shall not account for greater than 5.0% of the consolidated revenues of the Borrower and its Subsidiaries for the for the four
fiscal quarter period ending on last day of the most recent Fiscal Quarter for which financial statements have been delivered pursuant to Section 6.01(a)(i) or Section 6.01(a)(ii);

 (v) maintain the loans, investments and/or liabilities in existence on the date of this
AgreementAmendment No. 4 Effective Date and
set forth on Schedule 6.02(e)(v) to the Disclosure Letter; 
 (vi) invest in the Equity Interests of the
Subsidiaries, provided that (A) any such investment in the form of Equity Interests held by a Loan Party shall be pledged pursuant to the Security Agreement (subject to any limitations applicable to voting stock of a Foreign Subsidiary
referred to therein), (B) no part of any such investment by a Loan Party to a non-Loan Party shall take the form of a contribution of intellectual property (other than any contribution or transfer to a Foreign Subsidiary of intellectual
property that is necessary to, or useful in, the business of such Foreign Subsidiary pursuant to the Management and Services AgreementAgreements, the Cost Sharing Agreement or the Platform Contribution
Transaction License Agreement), and (C) the aggregate amount of investments by the Loan Parties in Subsidiaries that are not Loan Parties (determined without regard to any write-downs or write-offs of such investments) shall not exceed
$25,000,000 per Fiscal Year; 
 (vii) [reserved]; 

(viii) make loans or advances made by the Borrower to any Subsidiary and made by the Borrower or any Subsidiary to the Borrower
or any other Subsidiary; provided that (A) any such loans and advances made by a Loan Party shall be evidenced by a promissory note pledged to the Lender pursuant to the Security Agreement, (B) such loans and advances shall be unsecured
and, to the extent owed by a Loan Party to a Person that is not a Loan Party, subordinated to the Obligations pursuant to a subordination agreement in form and substance satisfactory to the Lender, and (C) the amount of such loans and advances
made by Loan Parties to Subsidiaries that are not Loan Parties shall be subject to the limitation set forth in clause (vi) of this Section; 

(ix) make investments, loans or advances constituting non-cash consideration received by the Borrower or any Subsidiary in
respect of any Dispositions permitted under Section 6.02(f); 

  
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 (x) accounts receivable and extensions of trade credit arising in the
ordinary course of business; 
 (xi) make investments represented by Hedge Agreements permitted under Section 6.02(b);
and 
 (xii) maintain deposit and securities accounts to the extent not prohibited by this Agreement; 

(xiii) enter into and perform its obligations under any Permitted Call Hedging Agreement; and 

(xiv) make other investments, loans or
advances in an aggregate amount not to exceed $3,000,000
duringnot otherwise permitted by one of the termforegoing
clauses of this AgreementSection 6.02(e); provided
that, immediately after giving effect to such investment, loan or advance, the Borrower shall be in compliance with the financial covenants set forth in Section 6.03, on a pro forma basis. 

For purposes of compliance with this Section 6.02(e), the amount of any investment (whether an equity investment, loan, guarantee or other investment
governed by this Section 6.02(e)) of any Person shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such investment less (x) any returns or distributions of capital or repayment
of principal actually received in cash by such Person with respect thereto, whether by disposition, return on capital, dividend or otherwise or (y) in the case of any investment by a Loan Party in any Foreign Subsidiary, as reduced by any cash
payments received by such Loan Party from any Foreign Subsidiary pursuant to the Management and Services AgreementAgreements, the Cost Sharing Agreement or the Platform Contribution
Transaction License Agreement. 
 (f) Asset Sales. Borrower shall not, and shall not permit its Subsidiaries to, convey, sell,
lease, transfer or otherwise dispose of, in one transaction or a series of transactions, all or any part of its business, property or assets outside the ordinary course of business (including stock or other equity of a Subsidiary), whether now owned
or hereafter acquired (a “Disposition”), except that any Loan Party and any Subsidiary may convey, sell, lease, transfer or otherwise dispose of business, property or assets (i) that are surplus, obsolete or otherwise not used
or useful in the business of such Loan Party or such Subsidiary, provided that not less than 75% of the aggregate sale price from such Disposition shall be paid in cash or credited against the purchase price of replacement property or other
assets useful in the business of Borrower and its Subsidiaries, (ii) consisting of cash or Cash Equivalents (A) in exchange for cash or other Cash Equivalents, (B) to a Person that is not an Affiliate of any Loan Party or such
Subsidiary, or (C) to a Person that is an Affiliate of any Loan Party or such Subsidiary, to the extent permitted by Section 6.02(g) and not prohibited by any other provision of the Credit Agreement, (iii) in exchange for other assets
comparable or superior as to type, value and quality, as determined in good faith by Borrower, (iv) between and among the Borrower and its Subsidiaries, provided that if the transferor in such a transaction is a Loan Party, then either
(x) the transferee must be a Loan Party or (y) the portion of any such Disposition made for less than fair market value and 

  
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 any non-cash consideration received in exchange for such Disposition shall in each case constitute an
investment in such Subsidiary restricted by Section 6.02(e) and must be permitted thereunder; (v) resulting from any casualty, taking or condemnation of any property of the Borrower or any Subsidiary; (vi) constituting subleases of
office space, for fair market value as determined by the Borrower in good faith, in the ordinary course of business not interfering with the ordinary conduct of the business of the Borrower or any of its Subsidiaries; (vii) to the extent
permitted by Section 6.01(c) or Sections 6.02(a), (c) or (e); (viii) constituting sale and leaseback transactions permitted by Section 6.02(q); (ix) consisting of Inventory in the ordinary course of business;
(x) consisting of the lapse, abandonment or other Disposition of Intellectual Property, that is in the reasonable business judgment of the Borrower, no longer used or useful in the conduct of its business or otherwise uneconomical to prosecute
or maintain; (xi) the unwinding of Hedge Agreements permitted under Section 6.02(b) or Permitted Call Hedging Agreements; (xii) other Dispositions for
aggregate consideration not exceeding $5,000,000 in the aggregate during any Fiscal Yearnot otherwise
permitted by this Section 6.02(f) so long as (A) at the time of such Disposition, no Event of Default or Potential Event of Default shall have occurred and be continuing or would result
from such Disposition; (B) not less than 75% of the aggregate sale price from such Disposition shall be paid in cash, and; (C) all such Dispositions shall be for at least fair market value of the assets or property subject to such Disposition
and (D) the aggregate fair market value of the assets or property subject to Dispositions in any twelve
month period of Borrower under this clause (xii) does not exceed 10% of consolidated assets of Borrower and
its Subsidiaries as of the last day of the immediately preceding Fiscal Quarter as reflected in
the financial statements for such Fiscal Quarter delivered pursuant to Section 6.01(a)(i) or Section 6.01(a)(ii). 

(g) Transactions with Affiliates. Except as otherwise permitted by the Loan Documents, Borrower shall not, and shall not permit its
Subsidiaries to, enter into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate of such Loan Party or its Subsidiaries on terms that are less
favorable to such Loan Party or such Subsidiary than those that could reasonably be expected to be obtained at the time from Persons who are not such an Affiliate; provided that this clause (g) shall not prohibit the issuance and sale of Equity
Interests to the extent not otherwise prohibited under the terms of this Agreement. 
 (h) Conduct of Business. Borrower shall not,
and shall not permit its Subsidiaries to, engage in any business, other than (i) the businesses engaged in by such Loan Party or such Subsidiaries on the Closing Date; (ii) any related, ancillary, supplementary or complementary business
line; (iii) any reasonable expansion or extension of any of the foregoing; or (iv) such other lines of business as may be consented to in writing by the Lender. 

(i) Modification of Organizational Documents; Etc. No Loan Party shall permit its or any of its Subsidiaries’ charter, by-laws or
other organizational documents to be amended or modified in any way unless (i) copies of such amendment or modification are promptly provided to the Lender, or
have been previously provided to the Lender in accordance with Section 6.01(b), (ii) such amendment or modification does not adversely affect in any material respect the interests
of the Lender hereunder or at law and (iiiii) such amendment or modification is not
reasonably likely to have Material Adverse Effect. No Loan Party shall, and shall not permit any of its Subsidiaries to, change its jurisdiction of incorporation, formation or organization, as applicable, name or corporate form without providing ten
(10) days’ prior written notice to the Lender. 

  
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 (j) Inconsistent Agreements; Negative Pledge. No Loan Party shall, or shall permit
any of its Subsidiaries to, enter into any agreement containing any provision which would be violated or breached by any Borrowing by the Borrower hereunder or by the performance by any Loan Party of any of its Obligations hereunder or under any
other Loan Document (including the grant of the Liens in the Collateral pursuant to the Security Documents). No Loan Party shall or shall allow any of its Subsidiaries to create or permit to exist or become effective any encumbrance or restriction
on the ability of such Loan Party or any of its Subsidiaries to create, incur, assume or suffer to exist any Lien in favor of Lender upon any of its properties or revenues or which requires the grant of any security for an obligation if security is
granted for the Secured Obligations, except for (i) this Agreement and the other Loan Documents, (ii) covenants in Capital Leases and documents creating Liens permitted by Section 6.02(a) prohibiting further Liens on the properties
encumbered thereby and Replacement Assets, (iii) customary restrictions in leases and other contracts restricting the assignment or pledge thereof, (iv) any encumbrance or restriction existing under or by reason of applicable law,
regulation or rule, (v) any encumbrance or restriction with respect to the subletting, assignment or transfer of any property or asset that is a lease, sublease, license, sublicense, permit, franchise, conveyance or contract or similar property
or asset, (vi) any encumbrance or restriction existing by virtue of any transfer of, agreement to transfer, option or right with respect to, or Lien on, any property or assets of any Loan Party or any Subsidiary thereof not otherwise prohibited
by this Agreement, and customary restrictions contained in purchase agreements and acquisition agreements to the extent in effect pending the consummation of such transaction, (vii) restrictions that are binding on a Subsidiary at the time such
Subsidiary first becomes a Subsidiary, so long as such restrictions were not into solely in contemplation of such PersonaPerson becoming a Subsidiary, and (viii) customary restrictions under any arrangement with any
governmental authority imposed on any Foreign Subsidiary in connection with governmental grants, financial aid, tax holidays or similar benefits or economic interests. Notwithstanding the foregoing, the Loan Parties shall not grant any Person, or
suffer to exist, control over any deposit accounts or securities accounts, other than (x) pursuant to control agreements in favor of the Lender or (y) in connection with Liens permitted pursuant to Sections 6.02(a)(ii), (xiv) and
(xvi) limited solely to deposits and pledges so permitted. 
 (k) Amendments to Certain Agreements. The Borrower shall not, and shall not
permit any of its Subsidiaries to, amend or otherwise modify, or waive any rights under, the Management and Services Agreement, the Cost Sharing Agreement or the Platform Contribution Transaction License Agreement to which such Person is a party in any manner adverse to the Lender. [Reserved].  

(l) Fiscal Year. The Borrower shall not change its Fiscal Year end to a date other than January 31. 

(m) Prepayment and Cancellation of Debt. No Loan Party shall, or shall permit any of its Subsidiaries to, (i) voluntarily prepay
any Debt other than (x) the Obligations in accordance with the terms of the Loan Documents, (y) Debt permitted under Section 6.02(b) (provided that any prepayment of Debt that is subordinated to the Obligations must also be
permitted under the terms of the applicable subordination or intercreditor agreement) and (z) trade payables in the ordinary course of business, or (ii) cancel any claim or debt owing to it, except for reasonable consideration determined
by the Borrower in good faith or as permitted by Section 6.02(f). 

  
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 (n) Certain Equity Securities; Equity Ownership. Neither the Borrower nor any
Subsidiary shall issue any Equity Interest that is not Qualified Equity Interest. The Borrower shall not cause or suffer to exist a Change in Control. 

(o) New Subsidiaries. The Borrower shall not acquire, organize or create any Subsidiary unless (i) the Borrower complies with
Section 6.01(m) hereunder, (ii) such Subsidiary is wholly owned by the Borrower, directly or indirectly, and (iii) such Borrower shall have complied with its obligations under the Security Agreement in respect of the Shares (as
defined in the Security Agreement) of such Subsidiary. 
 (p) Employee Benefit Plans. No Loan Party shall establish (i) a Pension
Plan or (ii) contribute to or become required to contribute to a Multiemployer Plan. 
 (q) Sale and Lease-Back Transactions. No
Loan Party shall, and shall not permit any of their Subsidiaries to, enter into any arrangement, directly or indirectly, with any Person whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now
owned or hereafter acquired, and thereafter rent or lease such property or other property which it intends to use for substantially the same purpose or purposes as the property being sold or transferred unless any obligations in connection with any
Capital Lease or Liens arising in connection therewith are permitted by Sections 6.02(a) and 6.02(b), as the case may be. 
 (r)
Sanctions; Anti-Bribery. Borrower willshall not, directly or request any Loan or Letter of Credit, toand the Borrower’s knowledge, indirectly, use the proceeds of
the Loans or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint
venture partner or other shall not use, and shall
ensure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Loan or Letter of Credit, directly or indirectly, (i) in furtherance of an offer, payment, promise to pay, or
authorization of the payment or giving of money, or anything else of value, to any Person
in violation of any Anti-Corruption Laws or Anti-Money Laundering Laws, (iii) to fundfor the purpose of funding, financing or facilitating any activities or,
business or transaction of or with any Sanctioned Person, or in any country or territory, that, at the time of such funding, is, or whose government is, the subject of SanctionsSanctioned Country, or (iiiii) in any other manner that would result in athe violation of any
Sanctions by any Person (including any Person participating in the Loans, whether as underwriter, advisor, investor or otherwise). The Borrower will not directly, or to the Borrower’s knowledge, indirectly,
permit any part of the proceeds of the Loans to be used for any payments that would constitute a violation of any applicable anti-bribery lawto any
party hereto. 
 (s) Capital Expenditures. Borrower shall not, and shall
not permit any of its Subsidiaries to, make any Capital Expenditures if at the time of making of such Capital Expenditure, an Event of Default shall have occurred and is continuing or would result from such Capital Expenditure. 

  
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 Section 6.03 Financial Covenants. So long as the Note or any
Obligation hereunder and under the other Loan Documents shall remain unpaid or the Lender shall have any Commitment hereunder: 
 (a) Minimum Liquidity. The Borrower shall not permit the Liquidity to be less than $150,000,000 at any time, measured as of the last day of any Fiscal Quarter; and 

(a)
(b) 
Senior Secured Leverage Ratio. The Borrower shall not
permit the Senior Secured Leverage Ratio, measured on a trailing 12 monthsfour consecutive Fiscal Quarter basis ending as of the last day of any Fiscal Quarter, to be greater
than
2.503.00 to 1.00. 

(b)
 Total Leverage Ratio. The Borrower shall not permit the Total
Leverage Ratio, measured on a trailing four consecutive Fiscal Quarter basis ending as of the last day of any Fiscal Quarter, to be greater than 6.00 to 1.00. 

(c)
 Interest Coverage Ratio. The Borrower shall not permit the Interest
Coverage Ratio measured on a trailing four consecutive Fiscal Quarter basis ending as of the last day of any Fiscal Quarter to be less than 3.00:1.00. 

ARTICLE VII. 

EVENTS OF DEFAULT 

Section 7.01 Events of Default. If any of the following events (each, an “Event of Default”)
shall occur and be continuing: 
 (a) any Loan Party shall (i) fail to pay any principal hereunder when due, (ii) fail to pay any
interest or other amount payable hereunder or under any other Loan Documents within three (3) Business Days of the date when due, or (iii) fail to Cash Collateralize any obligations as required hereunder; or 

(b) any representation or warranty made by a Loan Party herein or in any other Loan Document or by a Loan Party (or any of its officers) in
connection with this Agreement or any other Loan Document shall prove to have been incorrect in any material respect when made; or 
 (c) (i)
any Loan Party shall fail to perform or observe any term, covenant or agreement contained in Sections 6.01(b)(i), 6.01(c), 6.01(f), 6.01(q), 6.01(r), 6.02 or 6.03; or (ii) any Loan Party shall fail to perform or observe any term, covenant or
agreement contained in Sections 4.01 or 4.02 of the Security Agreement on its part to be performed or observed and any such failure shall remain unremedied for twenty (20) days after the earlier to occur of (A) such Loan Party obtaining
actual knowledge of such failure and (B) such Loan Party’s receipt of written notice from Lender of such failure; or 

  
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 (d) any Loan Party shall fail to perform or observe any term, covenant or agreement
contained in this Agreement or any other Loan Document other than those referred to in clauses (a), (b) and (c) above on its part to be performed or observed and any such failure shall remain unremedied for thirty (30) days after the
earlier to occur of (i) such Loan Party obtaining actual knowledge of such failure and (ii) such Loan Party’s receipt of written notice from Lender of such failure; or 

(e) any Loan Party or any of its Subsidiaries shall fail to pay any principal of, or premium or interest on, any Debt (excluding Debt evidenced
by the Loan Documents) (i) in any amount with respect to any Hedging Obligations or Cash Management Obligations owing to the Lender or any of its Affiliates, or (ii) in an aggregate principal amount exceeding $5,000,00010,000,000
 in any other case, when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) and such failure shall continue after the applicable grace period, if any, specified in
the agreement or instrument relating to such Debt, or an event of default shall occur and be continuing under any agreement or instrument relating to any such Debt, in each case which shall accelerate the maturity of such Debt or permit the holder
thereof or any trustee or agent for such holder to cause such Debt to become due and payable prior to its expressed maturity, provided that this clause shall not apply to (1) secured Debt that becomes due as a result of the voluntary sale or
transfer of the property or assets securing such Debt, if such sale or transfer is permitted hereunder, (2) termination events or equivalent events pursuant to the terms of Hedge Agreements not arising as a result of a default by the Borrower
or any Subsidiary thereunder, or (3) any redemption, repurchase, conversion or settlement with respect to any Convertible Debt Securities pursuant to their terms unless such redemption, repurchase, conversion or settlement results from a
default thereunder or an event that would constitute an Event of Default; or 
 (f) (i) the Borrower, any other Loan Party or any
Material Subsidiary of the Borrower shall commence any case, proceeding or other action (x) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors,
seeking to have an order for relief entered with respect to it, or seeking to adjudicate it as bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect
to it or its debts, or (y) seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or substantially all of its assets, or the Borrower, any other Loan Party or any Material Subsidiary of the Borrower shall
make a general assignment for the benefit of its creditors, or (ii) there shall be commenced against the Borrower, any other Loan Party or any Material Subsidiary of the Borrower any case, proceeding or other action of a nature referred to in
clause (i) above which (x) results in the entry of an order for relief or any such adjudication or appointment or (y) remains undismissed or undischarged for a period of sixty (60) days; or 

(g) one or more final, non-appealable judgments, attachments or decrees shall be entered against any Loan Party or any of its Subsidiaries
involving in the aggregate a liability equal to or greater than
$5,000,00010,000,000
 with respect to such Loan Party or such Subsidiary in excess of insurance (as to which a solvent and unaffiliated insurance company has not denied coverage) or third-party indemnities (as to which
the indemnitor has not denied responsibility) and such judgments, attachments or decrees shall not have been satisfied, vacated, dismissed, discharged, or stayed or bonded pending appeal within ninety (90) days from the entry thereof; or

  
 70 

 (h) any Loan Document, for any reason other than satisfaction in full of all Obligations
(other than inchoate indemnity obligations), ceases to be in full force and effect, is declared null and void, or any Loan Party denies that it has any further liability under such Loan Document or gives notice to such effect; or 

(i) any Loan Document purporting to grant a Lien to secure any Obligation shall, at any time after the delivery of such Loan Document, fail to
create a valid and enforceable Lien on any Collateral purported to be covered thereby (except to the extent terminated in accordance with the terms of this Agreement or any other Loan Document), or such Lien shall fail or cease to be a perfected
Lien on any Collateral with the priority required in the relevant Loan Document or any Loan Party shall state in writing that any of the events described in this clause (i) shall have occurred, except, in each case, if such failure is a result
of the Lender’s action or omission; or 
 (j) any part of the property of any Loan Party is nationalized, expropriated, seized or
otherwise appropriated, or custody or control of such property or of such Loan Party is assumed by any governmental authority, unless the same (i) is not likely to have a Material Adverse Effect or (ii) is being contested in good faith by
appropriate proceedings diligently pursued and a stay of enforcement is in effect; 
 THEN (i) upon the occurrence of any Event of Default described in
clause (f) above, the Commitment shall immediately terminate and all Loans and Letters of Credit hereunder together with accrued interest thereon and all other Obligations owing under this Agreement, the Note and the other Loan Documents shall
automatically become due and payable and (ii) upon the occurrence of any other Event of Default, the Lender may, by notice to the Borrower, declare the Commitment to be terminated forthwith, whereupon the Commitment shall immediately terminate,
and/or, by notice to the Borrower, declare the Loans hereunder, with accrued interest thereon and all other Obligations owing under this Agreement, the Note and the other Loan Documents to be due and payable forthwith, whereupon the same shall
immediately become due and payable, and in each case the Borrower shall be required to immediately Cash Collateralize (x) the outstanding Hedging Obligations owing to the Lender or any of its Affiliates in an amount equal to 100% of the aggregate
net amount of such Hedging Obligations and (y) the outstanding Cash Management Obligations owing to the Lender or any of its Affiliates in an amount equal to 100% of the aggregate amount of such Cash Management Obligations. Except as expressly
provided above in this Section 7.01, presentment, demand, protest and all other notices of any kind are hereby expressly waived. 

  
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 ARTICLE VIII. 

MISCELLANEOUS 

Section 8.01 Amendments, Etc. No amendment or waiver of any provision of any Loan Documents, nor consent to any
departure by any Loan Party therefrom, shall in any event be effective unless the same shall be in writing and signed by the Lender and the applicable Loan Party and then such waiver or consent shall be effective only in the specific instance and
for the specific purpose for which given. 
 Section 8.02 Notices, Etc. Except as otherwise set forth in this
Agreement, all notices and other communications provided for hereunder and under the other Loan Documents shall be in writing (including email or facsimile communication) and shall be delivered by hand or overnight courier service, mailed by
certified or registered mail or sent by facsimile or email, (i) if to a Loan Party, to the attention of the Borrower at the Borrower’s address set forth on the signature page hereof and (ii) if to the Lender, at the address set forth
below or, as to each party, at such other address as shall be designated by such party in a written notice to the other parties. All such notices and communications shall be effective as follows: notices and other communications sent by hand or
overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by facsimile shall be deemed to have been given when sent (except that, if not given during
normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient); and notices delivered by email shall be deemed to have been given when received. Notwithstanding the
foregoing, notices and communications to the Lender pursuant to Article II shall not be effective until received by the Lender. 

Wells Fargo Corporate Banking – Technology Banking Group 

45 Fremont Street, 7th Floor, San Francisco, CA 94105 

Phone: 415-222-1183 

Email:
wendy.y.wong@wellsfargo.com 

Attention: Wendy Wong 

Section 8.03 Right of Set-off. Upon the occurrence and during the continuance of any Event of Default, the Lender
and each of its Affiliates are hereby authorized by each Loan Party, at any time and from time to time, without notice, to the fullest extent permitted by applicable law (a) to set off against, and to appropriate and apply to the payment of,
the obligations and liabilities of such Loan Party under the Loan Documents (whether matured or unmatured) any and all amounts owing by the Lender to such Loan Party (whether payable in Dollars or any other currency, whether matured or unmatured,
and, in the case of deposits, whether general or special, time or demand, provisional or final and however evidenced), irrespective of whether or not the Lender or any of its Affiliates shall have made any demand under this Agreement or any other
Loan Document and although such obligations and liabilities of such Loan Party are owed to a branch, office or Affiliate of the Lender different from the branch, office or Affiliate holding such deposit or obligated on such amounts, and
(b) pending any such action, to the extent necessary, to hold such amounts as collateral to secure such obligations and liabilities and to return as unpaid for insufficient funds any and all checks and other items drawn against any deposits so
held as the Lender in 

  
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 its sole discretion may elect. Each Loan Party hereby grants to the Lender a security
interest in all deposits and accounts maintained with the Lender or any of its Affiliates to secure the Secured Obligations. The rights of the Lender and its Affiliates under this Section 8.03 are in addition to other rights and remedies
(including other rights of set-off) which the Lender or its Affiliates may have. 
 Section 8.04 No Waiver;
Remedies. No failure on the part of the Lender to exercise, and no delay in exercising, any right under any of the Loan Documents shall operate as a waiver thereof, nor shall any single or partial exercise of any right under any of the Loan
Documents preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by law. 

Section 8.05 Costs and Expenses.
Subject to the limitation specified in Section 2.05(c),
theThe Borrower hereby agrees to pay on demand
(a) all reasonable and documented out-of-pocket costs and expenses of the Lender (including reasonable and documented out-of-pocket attorneys’ fees and costs) in connection with the preparation, negotiation, execution and delivery of this
Agreement and the other Loan Documents or (b) all costs and expenses of the Lender (including attorneys’ fees and costs) in connection with the administration of the Loan Documents or any amendments, modifications, or waivers of the
provisions hereof or thereof, enforcement (including, without limitation, in appellate, bankruptcy, insolvency, liquidation, reorganization, moratorium or other similar proceedings) or restructuring of the Loan Documents (including any amendment,
modification or waiver with respect thereto). This covenant shall survive termination of this Agreement and the payment of the Obligations. 

Section 8.06 Indemnity. Whether or not the transactions contemplated hereby shall be consummated, the Borrower
hereby agrees to indemnify, pay and hold the Lender, its Affiliates and their respective shareholders, officers, directors, employees and agents of the Lender (collectively, the “Indemnified Parties”), harmless from and against any
and all claims, liabilities, losses, damages, penalties, costs and expenses (whether or not any of the foregoing Persons is a party to any litigation), including, without limitation, attorneys’ fees and costs and costs of investigation,
document production, attendance at a deposition, or other discovery, with respect to or arising out of this Agreement or the other Loan Documents or any use of proceeds hereunder, or any exercise by the Lender of its rights and remedies under this
Agreement or, any other Loan Document, or any claim, demand, action or cause of action being asserted against any Loan Party, including without limitation with respect to violation of any Environmental Law or other Law (collectively, the
“Indemnified Liabilities”), provided that the Borrower shall have no obligation hereunder with respect to Indemnified Liabilities arising from (i) the gross negligence or willful misconduct of any such Persons or its employees
or representatives or (ii) any breach in bad faith by such Indemnified Party of any Loan Document. No Indemnified Party shall assert, and each Indemnified Party hereby waives, any claim based on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages) (whether or not the claim therefor is based on contract, tort or duty imposed by any applicable legal requirement) arising out of, in connection with, as a result of, or in
any way related to, this Agreement or any other Loan Document or any agreement or instrument contemplated hereby or thereby or referred to 

  
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 herein or therein, the transactions contemplated hereby or thereby, any Loan or the use of
the proceeds thereof or any act or omission or event occurring in connection therewith, and each Indemnified Party hereby waives, releases and covenants not to sue upon any such claim or seek any such damages, whether or not accrued and whether or
not known or suspected to exist in its favor. This covenant shall survive termination of this Agreement and the payment of the Obligations. 

Section 8.07 Assignments and Participations. The Lender may sell, assign, transfer, negotiate or grant
participations to other financial institutions in all or part of its right and obligations under the Loan Documents (including all or a portion of its Commitment and the Loans at the time owing to the Lender), (i) in the case of a sale,
assignment or transfer, with the consent of the Borrower (such consent not to be unreasonably withheld, conditioned or delayed), provided, that the Borrower’s consent shall not be required (A) at any time that an Event of Default has
occurred and is continuing or (B) in the case of a sale, assignment or transfer to an Affiliate of the Lender or an Approved Fund of the Lender, and (ii) in the case of a participation, without the consent of, or notice to, the
Borrower, provided, further, that in each case, any assignee or transferee agrees to be bound by the terms and conditions of this Agreement; and provided even further, that, in the case of a participation, (x) the Lender’s
obligations under this Agreement shall remain unchanged, (y) the Lender shall remain solely responsible to the Borrower for the performance of such obligations, and (z) the Borrower shall continue to deal solely and directly with the
Lender in connection with the Lender’s rights and obligations under this Agreement. The Lender may, in connection with any actual or proposed assignment or participation, disclose to the actual or proposed assignee or participant, any
information relating to the Loan Parties, so long as such potential participants or assignees comply with the provisions of Section 8.09 related to participants and assignees. No Loan Party shall have the right to assign its rights hereunder or
under any Loan Document or any interest herein or therein without the prior written consent of the Lender, which consent can be withheld in the sole discretion of the Lender. “Approved Fund” means any Person (other than a natural
Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities and that is administered or managed by the Lender or an
Affiliate of the Lender. 
 Section 8.08 Limitation on Payments. The parties hereto intend to conform to all
applicable laws limiting the maximum rate of interest that may be charged or collected by the Lender from the Borrower. Accordingly, notwithstanding any other provision hereof, the Borrower shall not be required to make any payment to or for the
account of the Lender, and the Lender shall refund any payment made by the Borrower, to the extent that such requirement or such failure to refund would violate or conflict with mandatory and nonwaivable provisions of applicable law limiting the
maximum amount of interest which may be charged or collected by the Lender from the Borrower. To the fullest extent permitted by law, in any action, suit or proceeding pertaining to this Agreement, the burden of proof, by clear and convincing
evidence, shall be on the Borrower to demonstrate that this Section 8.08 applies to limit any obligation of the Borrower under this Agreement or to require the Lender to make any refund, or claiming that this Agreement conflicts with any
applicable law limiting the maximum rate of interest that may be charged or collected by the Lender from the Borrower, as to each element of such claim. 

  
 74 

 Section 8.09 Disclosure of Information. The Lender may disclose
information relating to any Loan Party or any of their respective businesses, including information regarding the financial condition and property, and the amount of Debt owed to the Lender and the terms, conditions and other provisions applicable
thereto to its Affiliates and to any of its partners, directors, officers, employees, agents, trustees, advisors and representatives, regulatory authorities (including self-regulatory), assignees or participants or prospective assignees or
participants, provided that each such Person shall be informed of the confidential nature of such information and instructed to keep such information confidential, and in the case of assignees or participants or prospective assignees or
participants, such Persons shall have executed and delivered in favor of the Borrower a confidentiality agreement in reasonable and customary form. 

Section 8.10 Limitation of Liability. TO THE FULLEST EXTENT PERMITTED BY LAW, NO CLAIM MAY BE MADE BY ANY PARTY TO
ANY LOAN DOCUMENT AGAINST THE OTHER PARTY HERETO OR ANY AFFILIATE, DIRECTOR, OFFICER, EMPLOYEE, ATTORNEY OR AGENT OF SUCH OTHER PARTY FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES IN RESPECT OF ANY CLAIM ARISING FROM OR RELATING TO
THIS AGREEMENT OR, ANY OTHER LOAN DOCUMENT OR ANY STATEMENT, COURSE OF CONDUCT, ACT, OMISSION OR EVENT IN CONNECTION WITH ANY OF THE FOREGOING (WHETHER BASED ON BREACH OF CONTRACT, TORT OR ANY OTHER THEORY OF LIABILITY); AND EACH PARTY HEREBY
WAIVES, RELEASES AND AGREES NOT TO SUE UPON ANY CLAIM FOR ANY SUCH DAMAGES, WHETHER OR NOT ACCRUED AND WHETHER OR NOT KNOWN OR SUSPECTED TO EXIST. 

Section 8.11 Effectiveness; Binding Effect; Governing Law. This Agreement shall become effective when it shall
have been executed by the Borrower and the Lender and thereafter shall be binding upon and inure to the benefit of the Borrower, the Lender and their respective successors and assigns (subject to Section 8.07). THIS AGREEMENT AND THE NOTE SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF CALIFORNIA WITHOUT GIVING EFFECT TO ITS CHOICE OF LAW PRINCIPLES WHICH WOULD RESULT IN THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION. 

Section 8.12 Waiver of Jury Trial.
TO THE FULLEST EXTENT PERMITTED BY LAW, THE BORROWER HEREBY AGREES
TO WAIVE ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS OR ANY DEALINGS BETWEEN THE BORROWER AND THE LENDER RELATING TO THE SUBJECT MATTER OF THIS LOAN
TRANSACTION OR THE LENDER/BORROWER RELATIONSHIP THAT IS BEING ESTABLISHED. IF AND TO THE EXTENT THAT THE FOREGOING WAIVER OF THE RIGHT TO A JURY TRIAL IS UNENFORCEABLE FOR ANY REASON IN SUCH FORUM, EACH OF THE PARTIES HERETO HEREBY CONSENTS TO THE
ADJUDICATION OF ALL CLAIMS PURSUANT TO JUDICIAL REFERENCE AS PROVIDED IN CALIFORNIA CODE OF CIVIL PROCEDURE SECTION 638, AND THE JUDICIAL REFEREE SHALL BE EMPOWERED TO HEAR AND DETERMINE ALL ISSUES IN SUCH REFERENCE, WHETHER FACT OR LAW. 

  
 75 

 Section 8.13 Consent to Jurisdiction; Venue. All judicial
proceedings brought against a Loan Party with respect to this Agreement or the other Loan Documents may be brought in any state or federal court of competent jurisdiction in the State of California, and by execution and delivery of this Agreement,
each Loan Party hereby accepts for itself and in connection with its properties, generally and unconditionally, the exclusive jurisdiction of the aforesaid courts, and each Loan Party hereby irrevocably agrees to be bound by any judgment rendered
thereby in connection with this Agreement and the other Loan Documents. Each Loan Party hereby irrevocably waives any right it may have to assert the doctrine of forum non conveniens or to object to venue to the extent any proceeding is brought in
accordance with this Section 8.13. Nothing in this Agreement or in any other Loan Document shall affect any right that the Lender may otherwise have to bring any action or proceeding relating to any Loan Document against any Loan Party or its
property in the courts of any jurisdiction. 
 Section 8.14 Entire Agreement. This Agreement with all Exhibits
and Schedules hereto and the other Loan Documents embody the entire agreement and understanding by and among the parties hereto and thereto relating to the subject matter hereof and thereof and supersedes any and all prior agreements and
understandings, oral or written, relating to the subject matter hereof and thereof. 
 Section 8.15 Separability of
Provisions; Headings. In case any one or more of the provisions contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby. Section headings in this Agreement are included for convenience of reference only and shall not be given any substantive effect. 

Section 8.16 Execution in Counterparts; Etc. This Agreement may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of this Agreement by
facsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Agreement. The words “execution,” “signed,” “signature,” “delivery,”
and words of like import in or relating to this Agreement or any document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include electronic signatures, deliveries or the keeping of records
in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as
provided for in any applicable law, including the federal Electronic Signatures in Global and National Commerce Act, the California Uniform Electronic Transactions Act, or any other state laws based on the Uniform Electronic Transactions Act, and
the parties to this Agreement consent to conduct the transactions contemplated hereunder by electronic means. 

  
 76 

 Section 8.17 USA Patriot Act. The Lender hereby notifies the
Loan Parties that pursuant to the requirements of the Patriot Act
itor any other Anti-Money Laundering Laws, each of them is required to obtain, verify and record information that identifies the Loan Parties, which information includes the name and address of the Loan Parties and other information that will allow the Lender to
identify the Loan Parties in accordance with the Patriot Act or such Anti-Money Laundering Laws. 
 Section 8.18 English Language. This Agreement and each of the
other Loan Documents has been negotiated and executed in the English language. Except as specified otherwise herein all certificates, reports, notices and other documents and communications given or delivered pursuant to this Agreement and the other
Loan Documents (including any modifications or supplements hereto or thereto) shall be in the English language, or accompanied by an English translation. 

Section 8.19 Service of Process. Each party hereto irrevocably consents to service of process in the manner
provided for notices in Section 8.02. Nothing in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by applicable laws. 

Section 8.20 Acknowledgement and Consent to Bail-In of EEAAffected Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any
liability of any
EEAAffected
 Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of an EEAthe
applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a) the application of any Write-Down and Conversion Powers
by an
EEAthe applicable Resolution Authority to any such liabilities arising
hereunder which may be payable to it by any party hereto that is an
EEAAffected Financial Institution; and 

(b) the effects of any Bail-In Action on any such liability, including, if applicable: 

(i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEAAffected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu
of any rights with respect to any such liability under this Agreement or any other Loan Document; or 
 (iii) the
variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any EEAthe applicable Resolution Authority. 

  
 77 

 Section 8.21 Acknowledgement Regarding Any Supported QFCs. To
the extent that the Loan Documents provide support, through a guarantee or otherwise, for Hedge Agreements or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and each such QFC a “Supported
QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer
Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan
Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of California and/or of the United States or any other state of the United States): 

(a) In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding
under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing
such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such
interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special
Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such
Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. 

(b) As used in this Section 8.21, the following terms have the following meanings: 

“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance
with, 12 U.S.C. 1841(k)) of such party. 
 “Covered Entity” means any of the following: (i) a “covered
entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a
“covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). 
 “Default
Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. 

“QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in
accordance with, 12 U.S.C. 5390(c)(8)(D). 
 (c) Each Loan Document is hereby amended to incorporate by reference the provisions of this
Section 8.21, mutatis mutandis. 

  
 78 

 Section 8.22 Hedge Agreements. Notwithstanding anything to the
contrary set forth herein, at any time when an interest rate Hedge Agreement between the Borrower and the Lender (or any (an “Interest Rate Swap”) is in effect in connection with any LIBOR Loan, the following provisions shall apply
with respect to a portion of such Loan equal to the lesser of (x) the outstanding principal balance of such Loan and (y) the notional amount of the related Interest Rate Swap (the “Hedge Portion”): 

(a) With respect to the Hedge Portion, no Prime Rate interest option shall be available; and 

(b) With respect to the Hedge Portion, the following definition of “Interest Period” shall apply: 

“Interest Period”: with respect to any LIBOR Loan for which an Interest Rate Swap has been executed, a period of one month,
provided that (i) the initial Interest Period shall commence on the later of (A) the effective date of such Interest Rate Swap, and (B) the date of disbursement of such Loan, and shall continue up to, but shall not include, the fifth
day of the immediately succeeding month, (ii) thereafter, each Interest Period shall commence automatically, without notice to or consent from the Borrower, on the fifth day of each month and continue up to, but shall not include, the fifth day
of the immediately succeeding month and (iii) for any Interest Period commencing within one month of the Maturity Date, such Interest Period shall end on the Maturity Date. An Interest Period that commences with respect to a Hedge Portion
hereunder shall continue until its scheduled expiration date in accordance with the foregoing definition notwithstanding the termination of the Interest Rate Swap during such Interest Period. 

The Borrower understands and acknowledges that (i) any Interest Rate Swap constitutes an independent agreement between the Borrower and
the Lender and will be unaffected by any repayment, prepayment, acceleration, reduction, increase or change in the terms of this Agreement, except as otherwise expressly provided in the documentation for the Interest Rate Swap, (ii) nothing in
this Agreement shall be construed as a modification of an Interest Rate Swap or create an obligation to amend an Interest Rate Swap, (iii) the Borrower may incur losses or reductions in benefits related to differences between the economic terms
and characteristics of this Agreement and those of a related Interest Rate Swap (including, without limitation, differences with respect to maturity dates, payment dates and methods for determining interest rates and differences between borrowings
hereunder and the notional amount of an Interest Rate Swap), and the Lender is under no obligation to ensure that there are no differences or that differences will not arise hereafter, including, without limitation, differences between usage
hereunder and the notional amount of an Interest Rate Swap, and (iv) the Lender has no obligation to modify, renew or extend the Maturity Date to match the maturity date of an Interest Rate Swap. 

[remainder of page intentionally left blank] 

  
 79 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

			
	BORROWER:
	
	BOX, INC.

 
			
		
	By:	 	 /s/ Dylan Smith

 
			
	Name: Dylan Smith
	Title: Chief Financial Officer
	
	Address:
	              	 	 900 Jefferson Ave
 Redwood City, CA 94063

Phone: (877) 729-4269

		 	 Facsimile: (888) 418-6762
 Attention: Chief
Financial Officer

  
 [Signature Page to Credit
Agreement] 

 
			
	LENDER:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Wendy Wong

	Name: Wendy Wong
	Title: VP

  
 [Signature Page to Credit
Agreement] 

 Annex B 

Updated Compliance Certificate 

(see attached) 

 EXHIBIT B 

COMPLIANCE CERTIFICATE 

                    
        , 202     
 THE UNDERSIGNED HEREBY CERTIFIES AS FOLLOWS: 

1. I am the Chief Financial Officer of BOX, INC. (the “Borrower”). 

 

	 	2.	 Reference is made to that certain Credit Agreement dated as of November 27, 2017 (as supplemented,
amended, modified, amended and restated or replaced in writing from time to time, the “Credit Agreement”, the terms defined therein and not otherwise defined herein being used herein as therein defined), by and between BOX, INC., a
Delaware corporation (the “Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (the “Lender”). All terms used but not otherwise defined herein shall have the meanings set forth in the Credit Agreement. 

 

	 	3.	 [No Potential Event of Default or Event of Default is continuing as of the date of delivery of this Compliance
Certificate.] 

 [OR] 

[A Potential Default or Event of Default is continuing as of the date of delivery of this Compliance Certificate. The nature of such Potential
Default or Event of Default is                         . The action that the Borrower proposes to take with respect
thereto is                         .] 
  

	 	4.	 Attached hereto as Annex A are the calculations used in determining the financial covenants set forth in
Section 6.03(a), Section 6.03(b), Section 6.03(c) and Section 6.02(b)(xvi) of the Credit Agreement, in each case, as of the date of this Compliance Certificate. 

The foregoing certifications, together with the computations set forth in Annex A hereto are made and delivered as of the date first set
forth above pursuant to the Credit Agreement. 
  

			
	BOX, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 ANNEX A 

To Compliance Certificate 
  

									
	 I.   
	 	 Section6.03(a) – Senior Secured Leverage Ratio
	  		  			
				
		 	 a.   First Lien Debt
	  		  			
			
		 	 i.   Total Funded Debt (as calculated in Line II.a.x below)
	  	 	$                	 
			
		 	 ii.  Any Debt included in Total Funded Debt that is not secured by a
“first priority” Lien on any property of the Borrower or any of its Subsidiaries
	  	 	$                	 
			
		 	 iii.   First Lien Debt (Line I.a.i minus Line
I.a.ii)
	  	 	$                	 
			
		 	 b.  EBITDA
	  			
			
		 	 i.   Consolidated Net Income
	  	 	$                	 
			
		 	 ii.  Add-backs
	  			
			
		 	 1.  Depreciation and amortization
	  	 	$                	 
			
		 	 2.  Provision (benefits) for income tax
	  	 	$                	 
			
		 	 3.  Consolidated Total Interest Expense
	  	 	$                	 
			
		 	 4.  Non-cash expenses, losses and charges, including, without limitation,
non-cash compensation-based expenses
	  	 	$                	 
			
		 	 5.  Extraordinary, unusual or non-recurring expenses, losses and charges,
including, without limitation, restructuring charges and costs, fees and expenses incurred by Borrower or its Subsidiaries in connection with any Permitted Acquisition, permitted Investment, permitted disposition, incurrence of permitted Debt or
issuance of Qualified Equity Interests, in each case whether or not consummated
	  	 	$                	 
			
		 	 6.  Other expenses, losses or charges agreed to by the Lender
	  	 	$                	 
			
		 	 7.  Total adjustments (sum of Line I.b.ii.1 through Line
I.b.ii.6)
	  	 	$                	 
			
		 	 iii.   Average Deferred Revenue Change
	  	 	$                	 
			
		 	 iv.   EBITDA (Line I.b.i plus Line I.b.ii.7 plus
or minus (as applicable) Line I.b.iii)
	  	 	$                	 
			
		 	 c.   Senior Secured Leverage Ratio (Line I.a.iii divided
by Line I.b.iv)
	  	 	        :1.00	 
			
		 	 d.  Maximum permitted Senior Secured Leverage Ratio
	  	 	3.00:1.00	 
				
	 II.
	 	Section 6.03(b) – Total Leverage Ratio	  		  			
			
		 	 a.   Total Funded Debt of the Borrower and its Subsidiaries
(excluding in each case (x) Debt contemplated by Section 6.02(b)(xvi) of the Credit Agreement) and (y) the contingent liabilities with respect to any swap and related hedging arrangements (including the Hedging Obligations) prior to the date any
such swap and related hedging arrangement (including the Hedging Obligations) is closed out and the termination value thereof determined in accordance therewith)
	  			
			
		 	 i.   All indebtedness for borrowed money and all obligations
evidenced by bonds, debentures, notes, loan agreements or other similar instruments
	  	 	$                	 

									
		 	 ii.  That portion of obligations with respect to Capital Leases which is
properly classified as a liability on a balance sheet in conformity with GAAP
	  	 	$                 	 
			
		 	 iii.   Notes payable representing extensions of credit whether or
not representing obligations for borrowed money
	  	 	$                 	 
			
		 	 iv.   Any obligation owed for all or any part of the deferred
purchase price of property or services (excluding (a) trade accounts payable incurred in the ordinary course of business not more than ninety (90) days past due, or that are currently being contested in good faith by appropriate
proceedings and with respect to which reserves in conformity with GAAP have been provided for on the books of such Person, (b) earnout payments (other than, for the avoidance of doubt, earnout payments payable solely in Disqualified Equity
Interests of the Borrower) , and (c) any accruals for payroll and other non-interest bearing liabilities accrued in the ordinary course of business) which purchase price is (y) due more than six months from the date of incurrence of the
obligation in respect thereof or (z) evidenced by a note or similar written instrument
	  	 	$                 	 
			
		 	 v.  all indebtedness for borrowed money secured by any Lien on any
property owned or held by that Person regardless of whether the indebtedness for borrowed money secured thereby shall have been assumed by that Person or is nonrecourse to the credit of that Person (excluding any obligations in respect of operating
leases)
	  	 	$                 	 
			
		 	 vi.   all obligations, contingent or otherwise, with respect to the
face amount of all letters of credit (whether drawn or undrawn), bankers’ acceptances or similar obligations issued for the account of such Person
	  	 	$                 	 
			
		 	 vii.  all swap and related hedging arrangements (including the Hedging
Obligations) of such Person valued at the net termination value thereof
	  	 	$                 	 
			
		 	 viii.  all obligations of such person in respect of Disqualified Equity
Interests
	  	 	$                 	 
			
		 	 ix.   any Guaranty of such Person in respect of any Debt of any
other Person described in clauses (i) through (viii) above
	  	 	$                 	 
			
		 	 x.  Total Funded Debt (Without duplication, the sum of Line
II.a.i through Line II.a.ix)
	  	 	$                 	 
			
		 	 b.  EBITDA (as calculated in I.b.iv above)
	  	 	$                 	 
			
		 	 c.   Total Leverage Ratio (Line II.a.x divided by Line
II.b)
	  	 	:1.00	 
			
		 	 d.  Maximum permitted Total Leverage Ratio
	  	 	6.00:1.00	 
				
	 III.
	 	Section 6.03(c) – Interest Coverage Ratio	  		  			
			
		 	 a.   EBITDA (as calculated in I.b.iv above)
	  	 	$                 	 
			
		 	 b.  Consolidated Total Interest Expense of the Borrower and its
Subsidiaries
	  	 	$                 	 
			
		 	 c.   Interest Coverage Ratio (Line III.a divided by
Line III.b)
	  	 	:1.00	 
			
		 	 d. Minimum required Interest Coverage Ratio
	  	 	3.00:1.00	 
				
	 IV.
	 	 Section 6.02(b)(xvi) – Purchase Obligations
	  		  			
			
		 	 a.   Purchase Obligations due Less Than 1 Year
	  	 	$                 	 
			
		 	 b.  Purchase Obligations due Year 1 – Year 3
	  	 	$                 	 
			
		 	 c.   The sum of Line IV.a and Line IV.b
	  	 	$                 	 
			
		 	 d.  Maximum permitted
	  	 	$350,000,000

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