Document:

Series F Purchase Agreement

 Exhibit 10.50 

 
  
 GLASSHOUSE TECHNOLOGIES, INC. 
 SERIES F PREFERRED STOCK PURCHASE
AGREEMENT 
 Dated as of December 23, 2010 

 
  
  

 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 SECTION 1 PURCHASE AND SALE
	  	 	2	  
	 1.1 Description of Securities
	  	 	2	  
	 1.2 Sale and Purchase
	  	 	2	  
	 1.3 Closing
	  	 	2	  
	 1.4 Use of Proceeds by the Company from the Closings
	  	 	2	  
	 1.5 Transfer Taxes
	  	 	3	  
		
	 SECTION 2 REPRESENTATIONS AND WARRANTIES OF THE COMPANY
	  	 	3	  
	 2.1 Organization and Corporate Power
	  	 	3	  
	 2.2 Authorization and Non-Contravention
	  	 	3	  
	 2.3 Corporate Records
	  	 	4	  
	 2.4 Capitalization
	  	 	4	  
	 2.5 Subsidiaries; Investments
	  	 	6	  
	 2.6 Financial Statements
	  	 	6	  
	 2.7 Absence of Certain Developments
	  	 	6	  
	 2.8 Absence of Undisclosed Liabilities
	  	 	7	  
	 2.9 Accounts Payable
	  	 	7	  
	 2.10 Accounts Receivable
	  	 	7	  
	 2.11 Transactions with Affiliates
	  	 	7	  
	 2.12 Title to Properties
	  	 	8	  
	 2.13 Tax Matters
	  	 	8	  
	 2.14 Certain Contracts and Arrangements
	  	 	9	  
	 2.15 Intellectual Property Rights; Employee Restrictions
	  	 	10	  
	 2.16 Litigation
	  	 	12	  
	 2.17 Labor Matters
	  	 	12	  
	 2.18 Employee Benefit Programs
	  	 	13	  
	 2.19 List of Certain Employees; Suppliers and Customers
	  	 	14	  
	 2.20 Customer Disputes
	  	 	14	  
	 2.21 Insurance
	  	 	15	  
	 2.22 Permits; Compliance with Laws
	  	 	15	  
	 2.23 Environmental Matters
	  	 	15	  
	 2.24 Investment Banking; Brokerage
	  	 	16	  
	 2.25 Solvency
	  	 	16	  
	 2.26 Information Supplied by the Company
	  	 	16	  
		
	 SECTION 3 REPRESENTATIONS AND WARRANTIES OF THE INVESTORS
	  	 	17	  
	 3.1 Investment Status
	  	 	17	  
	 3.2 Authority
	  	 	18	  
	 3.3 Investment Banking; Brokerage Fees
	  	 	18	  
		
	 SECTION 4 CONDITIONS OF PURCHASE BY THE INVESTORS AT THE CLOSING
	  	 	18	  
	 4.1 Satisfaction of Conditions
	  	 	18	  

					
	 4.2 Opinion of Counsel
	  	 	18	  
	 4.3 Authorization
	  	 	18	  
	 4.4 Ninth Amended and Restated Certificate of Incorporation
	  	 	18	  
	 4.5 Delivery of Documents
	  	 	19	  
	 4.6 Omnibus Amendment
	  	 	19	  
	 4.7 No Material Adverse Change
	  	 	19	  
	 4.8 All Proceedings Satisfactory
	  	 	19	  
	 4.9 [Intentionally Omitted]
	  	 	19	  
	 4.10 Consents and Waivers
	  	 	20	  
	 4.11 Proprietary Information, Developments and Non-Competition Agreements
	  	 	20	  
	 4.12 Board of Directors
	  	 	20	  
		
	 SECTION 5 COVENANTS OF THE COMPANY
	  	 	20	  
	 5.1 Financial Statements
	  	 	20	  
	 5.2 Budget
	  	 	21	  
	 5.3 Conduct of Business
	  	 	21	  
	 5.4 Payment of Taxes
	  	 	22	  
	 5.5 Compliance with Laws
	  	 	22	  
	 5.6 Adverse Changes
	  	 	22	  
	 5.7 Insurance
	  	 	22	  
	 5.8 Life Insurance
	  	 	22	  
	 5.9 Affiliated Transactions
	  	 	22	  
	 5.10 Information and Inspection
	  	 	23	  
	 5.11 Management Compensation
	  	 	23	  
	 5.12 [Intentionally Omitted]
	  	 	23	  
	 5.13 Stock Options; Restricted Stock
	  	 	23	  
	 5.14 No Conflicting Agreements
	  	 	24	  
	 5.15 Employee Confidentiality, Non-Competition and Invention Assignment Agreements
	  	 	24	  
	 5.16 Enforcement of Certain Agreements
	  	 	24	  
	 5.17 Negative Covenants
	  	 	24	  
		
	 SECTION 5A ADDITIONAL COVENANTS
	  	 	28	  
	 5A.1 Right of Notice on Extraordinary Transaction
	  	 	28	  
	 5A.2 Additional Information
	  	 	29	  
	 5A.3 Right of First Offer on Subsequent Issuances
	  	 	29	  
		
	 SECTION 6 SURVIVAL; INDEMNIFICATION
	  	 	32	  
	 6.1 Survival of Representations Warranties and Covenants
	  	 	32	  
	 6.2 Indemnification for Vicarious Liability
	  	 	32	  
	 6.3 Attorneys’ Fees
	  	 	34	  
		
	 SECTION 7 DEFINITIONS
	  	 	34	  
		
	 SECTION 8 GENERAL
	  	 	37	  
	 8.1 Amendments, Waivers and Consents
	  	 	37	  
	 8.2 Legend on Securities
	  	 	38	  

					
	 8.3 Governing Law
	  	 	38	  
	 8.4 Section Headings and Gender
	  	 	38	  
	 8.5 Counterparts
	  	 	38	  
	 8.6 Notices and Demands
	  	 	38	  
	 8.7 Dispute Resolution
	  	 	39	  
	 8.8 Assignment
	  	 	41	  
	 8.9 Expenses
	  	 	41	  

 EXHIBITS 
  

					
	 Exhibit A
	  	—  	  	 Schedule of Investors

	 Exhibit B
	  	—  	  	 Ninth Amended and Restated Certificate of Incorporation

	 Exhibit C
	  	—  	  	 Form of Opinion of Counsel to the Company

	 Exhibit D
	  	—  	  	 Form of Eighth Amended and Restated Registration Rights Agreement

	 Exhibit E
	  	—  	  	 Form of Fifth Amended and Restated Stockholders Agreement

	 Exhibit F
	  	—  	  	 Form of Omnibus Amendment, Admission, Consent and Waiver Agreement

	 Exhibit G-1
	  	—  	  	 Form of Employee Proprietary Information, Developments and Non-Competition Agreement

	 Exhibit G-2
	  	—  	  	 Form of Employee Proprietary Information, Developments and Non-Competition Agreement

		
	SCHEDULES	  	
		
	Disclosure Schedule	  	
			
	 Section 2.1
	  	—  	  	 Foreign Qualification

	 Section 2.4
	  	—  	  	 Capitalization

	 Section 2.5
	  	—  	  	 Subsidiaries; Investments

	 Section 2.7
	  	—  	  	 Certain Developments

	 Section 2.8
	  	—  	  	 Undisclosed Liabilities

	 Section 2.9
	  	—  	  	 Accounts Payable

	 Section 2.10
	  	—  	  	 Accounts Receivable

	 Section 2.11
	  	—  	  	 Transactions with Affiliates

	 Section 2.12
	  	—  	  	 Properties

	 Section 2.13
	  	—  	  	 Tax Matters

	 Section 2.14
	  	—  	  	 Certain Contracts and Arrangements

	 Section 2.15
	  	—  	  	 Intellectual Property Rights; Employee Restrictions

	 Section 2.16
	  	—  	  	 Litigation

	 Section 2.17
	  	—  	  	 Labor Matters

	 Section 2.18
	  	—  	  	 Employee Benefit Programs

	 Section 2.19
	  	—  	  	 List of Certain Employees, Suppliers and Customers

	 Section 2.21
	  	—  	  	 Insurance

	 Section 2.26
	  	—  	  	 Information

 SERIES F PREFERRED STOCK PURCHASE AGREEMENT 

This Series F Preferred Stock Purchase Agreement (this “Agreement”) is made as of this 23rd day of December, 2010, by and between GlassHouse Technologies, Inc.,
a Delaware corporation (together with any predecessors or successors thereto as the context requires, the “Company”) and the investor named in Exhibit A attached hereto (the “Investor”). Except as
otherwise indicated herein, capitalized terms used herein are defined in Section 7 hereof. 
 SECTION 1 PURCHASE AND SALE

 1.1 Description of Securities. The Company has authorized the issuance and sale to the Investor of shares of its
Series F Convertible Participating Preferred Stock, $0.001 par value per share (the “Series F Preferred Stock”), with the rights, preferences and other terms set forth in the Ninth Amended and Restated Certificate of Incorporation,
as amended from time to time and attached hereto as Exhibit B, which are convertible into shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”). For purposes of this Agreement, the shares
of Common Stock issuable upon conversion of the Series F Preferred Stock are referred to as the “Conversion Shares.” The Company has authorized and reserved, and covenants to continue to reserve, a sufficient number of shares of its
Common Stock necessary to satisfy the rights of conversion of the holders of Series F Preferred Stock as set forth in Exhibit B. 
 1.2 Sale and Purchase. Upon the terms and subject to the conditions contained herein, and in reliance on the representations and warranties set forth in Section 2, at the Closing (as defined
in Section 1.3 hereof), the Investor shall purchase from the Company, and the Company shall issue and sell to the Investor, the number of shares of Series F Preferred Stock set forth opposite the name of the Investor in Exhibit A (the
“Share Amount”) for the purchase price of $2.72 per share (the “Purchase Price”). 
 1.3
Closing. The closing of the purchase and sale of the Series F Preferred Stock under Section 1.2 hereof (the “Closing”) shall take place at the offices of Gunderson Dettmer Stough Villeneuve Franklin & Hachigian,
LLP (“Gunderson Dettmer”), 850 Winter Street, Waltham, Massachusetts, at 10:00 a.m. local time on December 23, 2010, or at such other time and place as shall be agreed upon by the Company and the Investor (the “Closing
Date”). At the Closing, the Company shall issue and deliver stock certificates representing the applicable number of shares of Series F Preferred Stock sold by the Company under Section 1.2 hereof to the Investor, free and clear of any
and all Liens against payment of the full Purchase Price therefor by or on behalf of the Investor to the Company by wire transfer. 
 1.4 Use of Proceeds by the Company from the Closings. The Company covenants and agrees with the Investor that it shall use the proceeds from the sale of Series F Preferred Stock hereunder to pay
all transaction fees incurred by the Company and the Investor in connection with the transactions contemplated under this Agreement and to fund the Company’s working capital needs; provided, however, that none of such proceeds
shall be used to repay any indebtedness or other obligations of the Company. 

  
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 1.5 Transfer Taxes. All transfer taxes, fees and duties under applicable law incurred
in connection with the sale and transfer of the Series F Preferred Stock under this Agreement will be borne and paid by the Company, and the Company shall promptly reimburse the Investor for any such tax, fee or duty which any of them is required to
pay under applicable law. 
 SECTION 2 REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

In order to induce the Investor to enter into this Agreement and consummate the transactions contemplated hereby, the Company hereby
makes to the Investor the representations and warranties contained in this Section 2. Such representations and warranties are subject to the qualifications and exceptions set forth in the disclosure schedule delivered to the Investor pursuant
to this Agreement (the “Disclosure Schedule”). For purposes of this Section 2, unless the context otherwise requires, all references to the “Company” include all “Subsidiaries” of the Company. 

2.1 Organization and Corporate Power. The Company is a corporation duly organized, validly existing and in good standing under the
laws of the State of Delaware, and is duly qualified or registered to do business as a foreign corporation (a) in each jurisdiction listed on Section 2.1 of the Disclosure Schedule and (b) in each jurisdiction in which the
failure to be so qualified would have a Material Adverse Effect. The Company has all required corporate power and authority to carry on its business as presently conducted, to enter into and perform this Agreement and the agreements contemplated
hereby to which it is a party and to carry out the transactions contemplated hereby and thereby. The copies of the Ninth Amended and Restated Certificate of Incorporation and Bylaws of the Company, as amended to date (the “Certificate of
Incorporation” and “Bylaws,” respectively), which have been furnished to the Investor or its counsel by the Company, are correct and complete at the date hereof, and the Company is not in violation of any term of the
Certificate of Incorporation or Bylaws. 
 2.2 Authorization and Non-Contravention. The Company is not in violation of
any term or provision of any agreement, instrument, judgment, decree, order, statute, rule or government regulation applicable to it or to which it is a party, except where such violations could not, in the aggregate, reasonably be expected to
result in a Material Adverse Effect. This Agreement and all documents executed pursuant hereto are valid and binding obligations of the Company, enforceable in accordance with their terms, except (a) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally or by equitable principles, (b) as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies, and (c) to the extent that the enforceability of the indemnification provisions herein and in the Registration Rights Agreement may be limited by applicable law. The execution, delivery and
performance of this Agreement and all agreements, documents and instruments contemplated hereby (collectively, the “Ancillary Documents”), the sale and delivery of the Series F Preferred Stock and, upon conversion of the Series F
Preferred Stock, the issuance of the Conversion Shares, have been duly authorized by all necessary corporate or other action of the Company. The execution of this Agreement, the sale and delivery of the Series F Preferred Stock and, upon conversion
of the Series F Preferred Stock, the issuance of the Conversion Shares, and the performance of any transaction contemplated hereby or by the Ancillary 

  
 3 

 
Documents will not (i) violate, conflict with or result in a default under any contract or obligation to which the Company is a party or by which it or its assets are bound, or any provision
of the Certificate of Incorporation or Bylaws, or cause the creation of any encumbrance upon any of the material assets of the Company; (ii) violate or result in a violation of, or constitute a default (whether after the giving of notice, lapse
of time or both) under, any provision of any law, regulation or rule, or any order of, or any restriction imposed by any court or other governmental agency applicable to the Company; (iii) require from the Company any notice to, declaration or
filing with, or consent or approval of, any governmental authority or other third party other than pursuant to federal or state securities or blue sky laws, or such other post-closing filings that may be required; or (iv) accelerate any
obligation under, or give rise to a right of termination of, any agreement, permit, license or authorization to which the Company is a party or by which the Company is bound. 
 2.3 Corporate Records. The corporate record books of the Company accurately record all corporate action taken by its stockholders, board of directors and committees thereof. The copies of the
corporate records (including the stock ledger) of the Company, as made available to the Investor or their counsel for review, are true, accurate and complete copies of the originals of such documents. 

2.4 Capitalization. After giving effect to the transactions contemplated hereby, the authorized capital stock of the Company will
consist of (i) 125,500,000 shares of Common Stock, of which 16,981,432 shares will be issued and outstanding, and 2,464,129 of which will be reserved for issuance upon exercise of warrants for the purchase of Common Stock, (ii) 3,360,000
shares of Series A Preferred Stock, all of which will be issued and outstanding, (iii) 10,658,017 shares of Series B Preferred Stock, 10,642,814 of which will be issued and outstanding, (iv) 8,717,647 shares of Series C Preferred Stock,
8,364,707 of which will be issued and outstanding and 352,940 of which will be reserved for issuance upon exercise of the Series C Warrants, (v) 6,000,000 shares of Series 1 Preferred Stock, 4,208,787 of which will be issued and outstanding,
(vi) 17,511,727 shares of Series D Preferred Stock, 15,890,678 of which will be issued and outstanding and 1,309,722 of which will be reserved for issuance upon exercise of the Series D Warrants, (vii) 4,805,815 shares of Series E
Preferred Stock, 4,493,245 of which will be issued and outstanding and 312,567 of which will be reserved for issuance upon exercise of the Series E Warrants and (viii) 33,591,913 shares of Series F Preferred Stock, 5,441,176 of which will be
issued and outstanding and 2,745,864 of which will be reserved for issuance upon exercise of warrants to purchase shares of Series F Preferred Stock. After giving effect to the transactions contemplated hereby, the outstanding shares of Common
Stock, Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series 1 Preferred Stock, Series D Preferred Stock, Series E Preferred Stock and Series F Preferred Stock are held and, after giving effect to the transactions
contemplated hereby, will be held, beneficially and of record by the persons identified in Section 2.4 of the Disclosure Schedule in the amounts indicated thereon. Except for the Company’s 2001 Stock Option and Grant Plan, as
amended (the “2001 Plan”), the Company’s Series 1 Stock Plan (the “Series 1 Plan”) and the Company’s 2007 Section 102 Share Option Plan (the “Israeli Option Plan”), as set forth on
Section 2.4 of the Disclosure Schedule, the Company has never adopted or maintained any formal stock incentive plan or other plan providing for equity compensation of any Person. The Company has reserved an aggregate of 16,586,922 shares
of Common Stock for issuance under the 2001 Plan, of which, as of the Closing, 4,993,506 shares have been issued upon exercise of options, 10,761,605 shares 

  
 4 

 
are subject to outstanding, unexercised options and 831,811 shares remain available for future grant. The Company has reserved an aggregate of 325,000 shares of Series 1 Preferred Stock for
issuance under the Series 1 Plan, of which, as of the Closing, 138,862 shares have been issued upon the exercise of options, 64,677 are subject to outstanding unexercised options, 2,674 shares remain available for future grant and 118,797 shares
have been transferred for issuance under the 2001 Plan. The Company has reserved an aggregate of 724,725 shares of Common Stock for issuance under the Israeli Option Plan, of which, as of the Closing, 6,000 shares have been issued upon exercise of
options, 688,792 shares are subject to outstanding, unexercised options and 29,483 shares remain available for future grant. Section 2.4 of the Disclosure Schedule sets forth the name of each holder of options, warrants, or rights to
purchase Common Stock, Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series 1 Preferred Stock, Series D Preferred Stock, Series E Preferred Stock or Series F Preferred Stock, the number of shares for which such
options, warrants or rights are exercisable with respect to each holder, along with the applicable vesting schedule (including any acceleration terms thereof), if any, and exercise or purchase price. After giving effect to the transactions
contemplated hereby, except as set forth in (i) Section 2.4 of the Disclosure Schedule, (ii) the Certificate of Incorporation, (iii) the Stockholders Agreement or (iv) the Registration Rights Agreement, there are no
outstanding subscriptions, options, warrants, commitments, preemptive rights, agreements, arrangements or commitments of any kind for or relating to the issuance or sale of, or outstanding securities convertible into or exchangeable for, any shares
of capital stock of any class or other equity interests of the Company. Other than as set forth in the Certificate of Incorporation, the Company has no obligation to purchase, redeem or otherwise acquire any of its capital stock or any interests
therein. After giving effect to the transactions contemplated hereby, all of the outstanding shares of capital stock of the Company will have been duly and validly authorized and issued and will be fully paid and non-assessable and will have been
offered, issued, sold and delivered in compliance with applicable federal and state securities laws and not subject to any preemptive rights. The Company has duly and validly authorized and reserved (i) 3,360,000 shares of Common Stock for
issuance upon conversion of the Series A Preferred Stock, (ii) 10,658,017 shares of Common Stock for issuance upon conversion of the Series B Preferred Stock, (iii) 8,717,647 shares of Common Stock for issuance upon conversion of the
Series C Preferred Stock, (iv) 6,000,000 shares of Common Stock for issuance upon conversion of the Series 1 Preferred Stock, (v) 17,511,727 shares of Common Stock for issuance upon conversion of the Series D Preferred Stock,
(vi) 4,805,815 shares of Common Stock for issuance upon conversion of the Series E Preferred Stock and (vii) 33,591,913 shares of Common Stock for issuance upon conversion of the Series F Preferred Stock, including the Series F Preferred
Stock sold pursuant to this Agreement, and the shares of Common Stock so issued will, upon such conversion, be validly issued, fully paid and non-assessable. The relative rights, preferences and other provisions relating to the Series A Preferred
Stock, Series B Preferred Stock, Series C Preferred Stock, Series 1 Preferred Stock, Series D Preferred Stock, Series E Preferred Stock and Series F Preferred Stock are as set forth in Exhibit B attached hereto. After giving effect to
the transactions contemplated hereby, except as set forth in (i) Section 2.4 of the Disclosure Schedule, (ii) the Certificate of Incorporation, (iii) the Stockholders Agreement or (iv) the Registration Rights
Agreement, there are (x) no preemptive rights, rights of first refusal, put or call rights or obligations or anti-dilution rights with respect to the issuance, sale or redemption of the Company’s capital stock, (y) no rights to have
the Company’s capital stock registered for sale to the public in connection with the laws of any jurisdiction and (z) no documents, instruments or 

  
 5 

 
agreements relating to the voting of the Company’s voting securities or restrictions on the transfer of the Company’s capital stock. Each share of the Company’s Preferred Stock is,
and will be immediately following the Closing, convertible on a 1-for-1 basis into the Company’s Common Stock. Section 2.4 of the Disclosure Schedule provides a pro forma capitalization table of the Company, giving effect to the
Closing and reflecting all outstanding capital stock of the Company (and securities exercisable for or convertible into capital stock) on both an outstanding basis and a fully diluted, as-converted-to-Common Stock basis (which in the case of the
Company’s convertible indebtedness assumes an optional conversion by the holder thereof on the date of the Closing). 
 2.5
Subsidiaries; Investments. Except as disclosed in Section 2.5 of the Disclosure Schedule, the Company does not have and has not had any Subsidiaries. Except as disclosed in Section 2.5 of the Disclosure Schedule, the
Company has no written agreement in respect of any strategic partnership or similar relationship (including any agreement providing for notice of, or providing rights in respect of, any change in control or acquisition of the Company or its assets)
and does not own or have any direct or indirect interest in or control over any corporation, partnership, joint venture or other entity of any kind. The term “control” shall mean the possession, directly or indirectly, of the power
to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 
 2.6 Financial Statements. The Company has made available to the Investor the audited balance sheets of the Company dated as of December 31, 2009 and unaudited balance sheets dated as of
September 30, 2010 (such September 30, 2010 balance sheet is hereinafter referred to as the “Base Balance Sheet”) and the related statements of income for the fiscal periods then ended, all of which statements were
prepared in accordance with generally accepted accounting principles (“GAAP”) consistently applied during the periods covered thereby, except for the absence of footnote disclosures and any year-end audit adjustments, and fairly
present the financial condition of the Company in all material respects on the date of such statements and the results of their operations for the period covered thereby. Nothing has come to the attention of the Company since the date of the Base
Balance Sheet which would indicate that such financial statements were not true and representative of the Company’s financial position as of the date thereof. 
 2.7 Absence of Certain Developments. Except as set forth in Section 2.7 of the Disclosure Schedule, since the date of the Base Balance Sheet, there has been: (i) no change in the
properties, assets, liabilities, business condition (financial or otherwise), prospects or results of operations of the Company except for changes in the ordinary course that, in the aggregate, have not been materially adverse; (ii) no
declaration, setting aside or payment of any dividend or other distribution with respect to, or any direct or indirect redemption or acquisition of, any capital stock of the Company; (iii) no waiver of any valuable right of the Company or
cancellation of any debt or claim held by the Company; (iv) no loan by the Company to any officer, director, employee or stockholder of the Company, or any agreement or commitment therefor; (v) no increase, direct or indirect, in the
compensation paid or payable to any officer, director, employee, consultant, agent or stockholder of the Company (other than salary increases in the ordinary course of business consistent with past practice which, individually or in the aggregate,
are not material); (vi) no material loss, destruction or damage to any property of the 

  
 6 

 
Company, whether or not insured; (vii) no change in the senior management or other key personnel of the Company or the terms and conditions of their employment; (viii) no acquisition or
disposition of any material assets (or any contract or arrangement therefor) nor any other material transaction by the Company otherwise than for fair value in the ordinary course of business consistent with past practice; or (ix) no any
agreement or understanding, whether in writing or otherwise, for the Company to take any of the actions specified in clauses (i) through (viii). 
 2.8 Absence of Undisclosed Liabilities. The Company does not have any material liabilities or obligations, whether accrued, absolute, contingent or otherwise, asserted or unasserted (including,
without limitation, liabilities as guarantor or otherwise with respect to obligations of others, or liabilities for Taxes due or then accrued or to become due, regardless of whether claims in respect thereof had been asserted as of such date),
except liabilities or obligations (i) stated or adequately reserved against in the Base Balance Sheet, (ii) incurred since the date of the Base Balance Sheet in the ordinary course of business that in the aggregate are not material or
(iii) disclosed in Section 2.8 of the Disclosure Schedule. 
 2.9 Accounts Payable. Except as set forth
in Section 2.9 of the Disclosure Schedule, all accounts payable of the Company arose in bona fide arms’ length transactions in the ordinary course of business and no account payable is delinquent by more than sixty (60) days in
its payment. Since the date of the Base Balance Sheet, the Company has paid its accounts payable in the ordinary course and in a manner which is consistent with its past practices. As of the date hereof, to the Company’s knowledge, the Company
has no account payable to any Person (other than accounts payable in the ordinary course of business which are not material in the aggregate) which is an Affiliate of the Company or any of its directors, officers, employees or stockholders, except
as set forth in Section 2.9 of the Disclosure Schedule. 
 2.10 Accounts Receivable. All of the accounts
receivable of the Company arose in bona fide arms’ length transactions in the ordinary course of business, are valid and enforceable claims, are not subject to any known set-off or counterclaim, and, to the Company’s knowledge, are fully
collectible in the normal course of business, after deducting the allowance for doubtful accounts stated in the Base Balance Sheet in accordance with GAAP. Except as set forth in Section 2.10 of the Disclosure Schedule, as of the date
hereof, the Company does not have any accounts receivable from any Person which is known by the Company to be an Affiliate of the Company or any of its directors, officers, employees or stockholders. 

2.11 Transactions with Affiliates. Except for their ongoing, regular employment relationships with the Company and as set forth in
Section 2.11 of the Disclosure Schedule, there are no loans, leases, agreements, arrangements or other transactions or continuing transactions between the Company and any present or former stockholder, director, officer or employee of
the Company, or any member of such officer’s, director’s, employee’s or stockholder’s immediate family, or any Person controlled by such officer, director, employee or stockholder or his or her immediate family. Except as set
forth in Section 2.11 of the Disclosure Schedule, to the Company’s knowledge, no stockholder, director, officer or employee of the Company or any of their respective spouses or family members, owns directly or indirectly on an
individual or joint basis any interest in, or serves as an officer or director or in another similar capacity of, any competitor, customer, distributor, vendor or supplier of the Company or any

  
 7 

 
organization which has a contract or arrangement with the Company, except for passive investments of less than 2% in publicly-traded companies. 

2.12 Title to Properties. Section 2.12 of the Disclosure Schedule sets forth the addresses and uses of all real
property that the Company owns, leases or subleases. The Company has good, valid and (if applicable) marketable title to all of its assets, free and clear of all Liens, restrictions or encumbrances, and none of such assets is subject to any
mortgage, pledge, Lien or conditional sale agreement, except such encumbrances and Liens that arise in the ordinary course of business and do not have a Material Adverse Effect. Such assets constitute all property which is necessary to the business
of the Company as currently conducted or as proposed to be conducted and all equipment included therein is in good condition and repair (ordinary wear and tear excepted) and all leases of real or personal property to which the Company is a party are
fully effective and afford the Company peaceful possession of the subject matter of such leases and true and complete copies thereof have been delivered to the Investor or their counsel. To the Company’s knowledge, the Company is not in
violation of any zoning, building or safety ordinance, regulation or requirement or other law or regulation applicable to the operation of its owned or leased properties which violation would have a Material Adverse Effect, nor has it received any
notice of such violation. There are no defaults by the Company or, to the Company’s knowledge, by any other party which might curtail in any material respect the present use of the property of the Company. The performance by the Company of this
Agreement and the transactions contemplated hereby will not result in the termination of, or in any increase of any amounts payable under, any of its leases for real property or material leases for personal property or will require the consent or
approval from any other party to such leases. 
 2.13 Tax Matters. The Company has timely and properly filed all federal,
state, local and foreign tax returns required to be filed by it through the date hereof, which returns were true, correct and complete in all material respects and has paid or caused to be paid all Taxes required to be paid by it through the date
hereof (whether or not shown on a tax return), except Taxes which are the subject of a good faith dispute for which adequate reserves have been established and are reflected on the Base Balance Sheet. All Taxes and other assessments and levies which
the Company was or is required to withhold or collect have been timely withheld and collected and have been paid over to the proper governmental authorities. Except as set forth in Section 2.13 of the Disclosure Schedule, (i) the
Company has never received written notice of any audit or of any proposed deficiencies from the Internal Revenue Service (the “IRS”) or any other taxing authority (other than routine audits undertaken in the ordinary course and
which have been resolved on or prior to the date hereof); (ii) there are in effect no waivers of applicable statutes of limitations with respect to any Taxes owed by the Company for any year; (iii) neither the IRS nor any other taxing
authority is now asserting, or to the Company’s knowledge, threatening to assert against the Company any deficiency or claim for additional Taxes or interest thereon or penalties in connection therewith in respect of the income or sales of the
Company; and (iv) the Company has never been a member of an affiliated group of corporations filing a combined federal income Tax return nor does the Company have any liability for Taxes of any other Person under Treasury Regulations
§1.1502.6 (or any similar provision of foreign, state or local law) or otherwise. The Company is not a party to any Tax allocation or sharing arrangement. The Company is not a party to any contract, agreement, plan or arrangement covering any
employee or former employee thereof that, individually or collectively, could give rise to the payment of any amount that would not be deductible pursuant 

  
 8 

 
to Section 280G or 162 of the Code. Except as set forth on Section 2.13 of the Disclosure Schedule, the Company is not a “foreign person” within the meaning of
Section 1445 of the Code and the Treasury Regulations 1.1445-2. 
 2.14 Certain Contracts and Arrangements. Except
as set forth in Section 2.14 of the Disclosure Schedule, the Company is not a party or subject to or bound by: 

(a) any contract or agreement involving potential commitment or payment by the Company in excess of $100,000 or which might result in
payments to the Company in excess of $100,000 or which is otherwise material and not entered into in the ordinary course of business; 
 (b) any contract, lease or agreement involving payments by the Company in excess of $100,000 which is not cancelable by the Company without penalty on not less than 60 days notice; 

(c) any contract containing covenants directly or explicitly limiting the freedom of the Company to compete in any line of business or
with any Person or restricting the development, distribution, marketing or sale of any of its products or services; 
 (d) any
contract or agreement relating to the licensing, distribution, development, purchase, sale or servicing of its products or services requiring payments during the term in excess of $100,000; 

(e) any indenture, mortgage, promissory note, loan agreement, guaranty or other agreement or commitment for borrowing or any pledge or
security arrangement; 
 (f) any employment contracts, non-competition agreements, invention assignments, severance or other
agreements with officers, directors, employees, stockholders or consultants of the Company or Persons related to or affiliated with such Persons, other than Employee Proprietary Information, Developments and Non-Competition Agreements in the form
provided in Exhibits G-1 and G-2; 
 (g) any stock redemption or purchase agreements or other agreements affecting
or relating to the capital stock of the Company, including, without limitation, any agreement with any stockholder of the Company which includes, without limitation, anti-dilution rights, registration rights, preemptive rights, rights of first
refusal, voting arrangements or operating covenants; 
 (h) any pension, profit sharing, retirement or stock options plans or
other agreements or understandings pursuant to which benefits are provided to any employee of the Company; 
 (i) any royalty,
dividend or similar arrangement based on the revenues or profits of the Company or any material contract or agreement involving fixed price or fixed volume arrangements; 

  
 9 

 (j) any joint venture, partnership, manufacturer, development, distribution, supply or
similar agreement; 
 (k) any acquisition, merger or similar agreement (or letters of intent, memoranda of understanding or term
sheets related to any of the foregoing); or 
 (l) any other contract not executed in the ordinary course of business.

 To the Company’s knowledge, all contracts, agreements, leases and instruments required to be listed on
Section 2.14 of the Disclosure Schedule (whether or not so listed) are valid and are in full force and effect and constitute legal, valid and binding obligations of the Company, and are enforceable in accordance with their respective
terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally or by equitable principles, (b) as limited by
laws relating to the availability of specific performance, injunctive relief or other equitable remedies, and (c) to the extent that the enforceability of any indemnification provisions therein may be limited by applicable law. The Company has
not received any written notice, and has no knowledge of any threat, to terminate any contracts, agreements, leases or instruments required to be listed on Section 2.14 of the Disclosure Schedule (whether or not so listed). The Company
is not in default in complying with any provisions of any contract, agreement, lease or instrument required to be listed on Section 2.14 of the Disclosure Schedule (whether or not so listed), and no condition or event or fact exists
which, with written notice, lapse of time or both, would constitute a default thereunder on the part of the Company, except for any such default, condition, event or fact that, individually or in the aggregate, would not have a Material Adverse
Effect. 
 2.15 Intellectual Property Rights; Employee Restrictions. 

(a) Section 2.15(a) of the Disclosure Schedule sets forth a list and brief description of all of the Company’s
(i) United States and foreign patents, patent rights and patent applications, registered and unregistered trademarks and servicemarks and applications (including Internet domain name registrations), tradenames, copyright registrations and
copyright registration applications, and (ii) Intellectual Property Rights of which the Company is the licensor or licensee (other than “off-the-shelf” software which is generally commercially available). 

(b) Except as set forth on Section 2.15(b) of the Disclosure Schedule, the Company has exclusive ownership of, free and clear
of claims or rights or any other Person, with full right to use, sell, license, sublicense, dispose of, and bring actions for infringement of, or possesses adequate licenses or other rights to use, all Intellectual Property Rights necessary for the
conduct of its business as presently conducted or proposed to be conducted (other than with respect to “off-the-shelf” software utilized in the Company’s internal operations and which is generally commercially available). Except as
set forth on Section 2.15(b) of the Disclosure Schedule, all Intellectual Property Rights that are used or incorporated into the Company’s products and services or products and services actively under development and which are
proprietary to the Company were developed by or for the Company by the current or former employees, consultants or independent contractors of the Company or its predecessors in interest 

  
 10 

 
or purchased by the Company or its predecessors in interest and are owned or licensed by the Company, free and clear of claims and rights of any other Person. 

(c) The business of the Company as presently conducted or proposed to be conducted and the production, marketing, licensing, use and
servicing of any products or services of the Company do not infringe or conflict with any patent, trademark, copyright or trade secret rights of any third parties or any other Intellectual Property Rights of any third parties. The Company has not
received written notice from any third party asserting that any Intellectual Property Rights owned or licensed by the Company, or which the Company otherwise has the right to use, are invalid or unenforceable by the Company, and the Company is not
aware of any valid basis for any such claim (whether or not pending or threatened). 
 (d) No claim is pending or threatened
against the Company nor has the Company received any written notice or other written claim from any Person asserting that any of the Company’s present or contemplated activities infringe or may infringe any Intellectual Property Rights of such
Person and the Company is not aware of any infringement by any other Person of any material rights of the Company under any Intellectual Property Rights. 
 (e) All licenses or other agreements under which the Company is granted Intellectual Property Rights (excluding licenses to use “off-the-shelf” software utilized in the Company’s internal
operations and which is generally commercially available) are listed in Section 2.15(e) of the Disclosure Schedule. All such licenses or other agreements are in full force and effect, there is no material default by the Company, and to
the Company’s knowledge, by any other party thereto and, except as set forth in Section 2.15(e) of the Disclosure Schedule, all of the rights of the Company thereunder are freely assignable. The Company is not making unlawful use of
any Intellectual Property Rights granted to it under any such licenses or other agreements. True and complete copies of all such licenses or other agreements, and any amendments thereto, have been provided to the Investor or their counsel and the
Company has no reason to believe that the licensors under such licenses and other agreements do not have and did not have all requisite power and authority to grant the Intellectual Property Rights purported to be conferred thereby. 

(f) All licenses or other agreements under which the Company has granted Intellectual Property Rights to others (including all end-user
agreements) are listed in Section 2.15(f) of the Disclosure Schedule. True and complete copies of all such licenses or other agreements, and any amendments thereto, have been provided to the Investor or their counsel. All of such
licenses or other agreements are in full force and effect and there is no material default by the Company, and to the Company’s knowledge, by any other party thereto. True and complete copies of all such licenses or other agreements, and any
amendments thereto, have been made available to the Investor. All agreements, contracts and instruments which contain escrow terms or provisions with respect to the Company’s Intellectual Property Rights, including, without limitation, the
Company’s source code, are listed in Section 2.15(f) of the Disclosure Schedule, and no other party thereto has a claim to exercise any rights under such escrow terms or provisions to acquire or obtain access to any of the
Company’s Intellectual Property Rights held thereunder. 

  
 11 

 (g) The Company has taken all commercially reasonable steps to keep confidential all
technical information developed by or belonging to the Company which has not been patented or copyrighted. To the Company’s knowledge, after due inquiry, the Company is not making unlawful use of any Intellectual Property Rights of any other
Person, including, without limitation, any former employer of any past or present employees of the Company. Except as disclosed in Section 2.15(g) of the Disclosure Schedule, neither the Company nor to the Company’s knowledge, after
due inquiry, any of its employees or consultants has any agreements or arrangements with former employers of such employees or consultants relating to any Intellectual Property Rights of such employers, which interfere or conflict with the
performance of such employee’s or consultant’s duties for the Company or result in any former employers of such employees and consultants having any rights in or claims to the Company’s Intellectual Property Rights. To the
Company’s knowledge, after due inquiry, the activities of the Company’s employees and consultants do not violate any agreements or arrangements which any such employees have with former employers. The Company has taken all commercially
reasonable steps to establish and preserve its ownership of all of the Intellectual Property Rights; except as set forth in Section 2.15(g) of the Disclosure Schedule, each current or former employee, independent contractor or consultant
of the Company who had or has responsibility for coding the Company’s products or who had access to source code or other proprietary product information of a similar nature has executed agreements regarding confidentiality, proprietary
information and assignment of inventions and copyrights to the Company, and to the Company’s knowledge no employee, consultant or independent contractor is in violation of any agreement or in breach of any agreement or arrangement with former
or present employers relating to proprietary information or assignment of inventions. Without limitation of any of the foregoing and except as otherwise expressly disclosed in Section 2.15(g) of the Disclosure Schedule: (i) the
Company has taken all commercially reasonable security measures to guard against unauthorized disclosure or use of any of its Intellectual Property Rights; and (ii) to the Company’s knowledge, after due inquiry, no Person (including,
without limitation, any former employee or consultant of the Company) has unauthorized possession of any of its Intellectual Property Rights, or any part thereof, and no Person has obtained unauthorized access to any of its Intellectual Property
Rights. 
 2.16 Litigation. Except as set forth in Section 2.16 of the Disclosure Schedule, there is no
action, suit, arbitration, governmental or other proceeding or investigation pending or, to the knowledge of the Company, threatened against the Company or affecting the properties or assets of the Company or, as to matters related to the Company,
against any officer, director or stockholder or key employee of the Company. No claim has been asserted in writing against the Company for renegotiation or price redetermination of any business transaction. Section 2.16 of the Disclosure
Schedule includes a description of all litigation, claims, proceedings or investigations involving the Company or any of its officers, directors, stockholders or key employees in connection with the business of the Company occurring, arising or
existing since the Company’s inception. 
 2.17 Labor Matters. As of the date hereof, the Company employs 521
full-time employees, 12 part-time employees and has contracts with 60 consultants or independent contractors. The Company is not delinquent in payments to any of its employees, consultants or independent contractors for any wages, salaries,
commissions, bonuses or other direct compensation for any service performed for it to the date hereof or amounts required to be 

  
 12 

 
reimbursed to such employees, consultants or independent contractors. Except as set forth in Section 2.17 of the Disclosure Schedule or as required by law, the employment of each
employee, consultant and independent contractor is at will and upon termination of the employment of any such employees, consultants or independent contractors, no severance or other payments will become due. Each employee and consultant of the
Company has entered into an Employee Proprietary Information, Developments and Non-Competition Agreement (copies of which have been provided to counsel for the Investor). Except as set forth in Section 2.17 of the Disclosure Schedule,
the Company has no policy, practice, plan or program of paying severance pay or any form of severance compensation in connection with the termination of employment services. The Company is and since its inception has been in material compliance with
all applicable laws and regulations respecting labor, employment, fair employment practices, terms and conditions of employment and wages and hours. There are no charges of employment discrimination, sexual harassment or unfair labor practices
except as set forth in Section 2.17 of the Disclosure Schedule, nor are there any strikes, slowdowns, stoppages of work or any other concerted interference with normal operations existing, pending or to the Company’s knowledge,
threatened against or involving the Company. There are no union organizing activities pending or, to the Company’s knowledge, threatened with respect to the Company and, to the Company’s knowledge, no question concerning representation
exists respecting the employees of the Company. There are no grievances, complaints or charges that have been filed under any dispute resolution procedure (including, but not limited to, any proceedings under any dispute resolution procedure under
any collective bargaining agreement) that, individually or in the aggregate, might reasonably be expected to have a Material Adverse Effect. No arbitration or similar proceeding is pending and no claim therefor has been asserted against the Company.
No collective bargaining agreement is in effect or is currently being or is about to be negotiated by the Company. The Company is, and at all times has been, in compliance with the requirements of the Immigration Reform Control Act of 1986. The
Company has complied in all material respects with all applicable state and federal equal employment opportunity laws and with other laws related to employment, including those related to wages, hours, worker classification and collective
bargaining. There are no changes pending or, to the Company’s knowledge, threatened with respect to nor has the Company received any notice or information concerning any prospective change with respect to the senior management, key employees or
independent contractors of the Company (including, without limitation, the resignation of senior management or any key employee or independent contractors of the Company). 
 2.18 Employee Benefit Programs. 
 (a) Section 2.18 of the
Disclosure Schedule sets forth a list of every Employee Program that has been maintained by the Company or to which the Company has contributed at any time since its inception and (i) is subject to ERISA, (ii) involves the issuance of
options or other securities, or (iii) is otherwise material. 
 (b) The terms and operation of each Employee Program comply
with all applicable laws and regulations relating to such Employee Program in all material respects. There are no unfunded obligations of the Company under any retirement, pension, profit-sharing, deferred compensation plan or similar program. If
required, each Employee Program which has been maintained by the Company and which has at any time been intended to qualify under 

  
 13 

 
Section 401(a) or 501(c)(9) of the Code has received a favorable determination or opinion or approval letter from the IRS regarding its qualification under such Section (or an application
for such a determination or opinion or approval letter is not yet due to be filed with the IRS with respect to any “disqualifying provision” within the meaning of Treasury Regulation Section 1.401(b)-1 or has been timely filed and is
pending with the IRS) and has, in fact, been qualified under the applicable Section of the Code from the effective date of such Employee Program through and including the Closings (or, if earlier, the date that all of such Employee Program’s
assets were distributed). No event or omission has occurred which would cause such Employee Program to lose its qualification under the applicable Code Section. The Company is not required to make any payments or contributions to any Employee
Program pursuant to any collective bargaining agreement or any applicable labor relations law, and all Employee Programs are terminable at the discretion of the Company without liability to the Company upon or following such termination. The Company
has never maintained or contributed to any Employee Program providing or promising any health or other nonpension benefits to terminated employees, other than as required by Code Section 4980B. 

2.19 List of Certain Employees; Suppliers and Customers. 
 (a) Section 2.19 of the Disclosure Schedule sets forth a detailed description of all compensation, including salary, bonus and deferred compensation paid or payable, for each current officer
and employee of the Company. 
 (b) Section 2.19 of the Disclosure Schedule sets forth a list of all suppliers and
vendors of the Company to whom the Company made payments aggregating $100,000 or more, showing, with respect to each, the name, address and dollar volume involved. No such supplier or vendor has canceled or otherwise terminated or materially reduced
its business with the Company or materially and adversely modified its relationship with the Company nor to the knowledge of the Company does any supplier or vendor have any plan or intention to do so. 

(c) Section 2.19 of the Disclosure Schedule sets forth the name of each customer of the Company who accounted for more than
five percent (5%) of the revenues of the Company for the twelve months ended December 31, 2009 (the “Customers”). To the knowledge of the Company, the relationships of the Company with its Customers are good commercial
working relationships. Since the Balance Sheet Date, except as set forth in Section 2.19 of the Disclosure Schedule, no Customer of the Company has canceled or otherwise terminated its relationship with the Company, or not renewed or
accepted any maintenance agreements, or has decreased materially its purchases of the services or products of the Company. No Customer has notified the Company of its plan or intention to terminate, to cancel or otherwise materially and adversely
modify its relationship with the Company or to decrease materially or limit its purchase or distribution of the services or products of the Company. 
 2.20 Customer Disputes. There are no written disputes commenced by the Company’s customers relating to the performance or quality of the Company’s products or services or refusal to pay
by customers on the basis of dissatisfaction with the Company’s products or services. 

  
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 2.21 Insurance. The physical properties, assets, business, operations, employees,
officers and directors of the Company are insured by the Company, to the extent disclosed in Section 2.21 of the Disclosure Schedule. Except as set forth in Section 2.21 of the Disclosure Schedule and claims for health care
benefits in the ordinary course, there is no claim by the Company pending under any such policies. Said insurance policies and arrangements are in full force and effect, all premiums with respect thereto are currently paid, and the Company is in
compliance in all material respects with the terms thereof. Said insurance is sufficient for compliance by the Company with all requirements of applicable law and all agreements and leases to which it is a party and otherwise is of the type and in
amounts customarily carried by Persons conducting business similar to that conducted by the Company. Each such insurance policy shall continue to be in full force and effect immediately following consummation of the transactions contemplated by this
Agreement. To the Company’s knowledge, there is no threatened termination of any such policies or arrangements. 
 2.22
Permits; Compliance with Laws. The Company has all Permits necessary to own its property and to conduct its business as it is presently conducted and as proposed to be conducted and all such Permits are valid and in full force and effect,
except where the failure to obtain such a Permit or its invalidity, in whole or in part, would not have a Material Adverse Effect. No material Permit is subject to termination as a result of the execution of this Agreement or consummation of the
transactions contemplated hereby. The Company is not in breach or violation of, or default under, its charter and by-laws, nor to its knowledge, is there a basis which could constitute such breach, default or violation. The Company is in compliance
with all applicable statutes, ordinances, orders, rules and regulations promulgated by any foreign or U.S. federal, state, municipal or other governmental authority, which apply to the conduct of its business, except where the failure to so comply
would not, individually or in the aggregate, have a Material Adverse Effect. The Company has never entered into or been subject to any judgment, consent decree, compliance order or administrative order with respect to any aspect of the business,
affairs, properties or assets of the Company or received any request for information, notice, demand letter, administrative inquiry or formal or informal complaint or claim from any regulatory agency with respect to any aspect of the business,
affairs, properties or assets of the Company. 
 2.23 Environmental Matters. No material quantity of hazardous wastes,
substances or materials or oil or petroleum products have been generated, transported, used, disposed, stored or treated by the Company and, to the Company’s knowledge, no material quantity of hazardous wastes, substances or materials, or oil
or petroleum products have been released, discharged, disposed, transported, placed or otherwise caused by the Company to enter the soil or water in, under or upon any real property owned, leased or operated by the Company. To the Company’s
knowledge, no material quantity of hazardous wastes, substances or materials or oil or petroleum products are present on or about any real property owned or leased, or previously owned or leased, by the Company. 

The Company has complied in all material respects with all applicable Environmental Laws (as defined below). There is no pending or, to the knowledge of
the Company, threatened civil or criminal litigation, written notice of violation, formal administrative proceeding, or investigation, inquiry or information request by any governmental entity, relating to any Environmental Law involving the
Company. For purposes of this Agreement, “Environmental Law” means any 

  
 15 

 
foreign or U.S. federal, state or local law, statute, rule or regulation or the common law relating to the protection of human health or the environment, including, without limitation, CERCLA (as
defined below), the Resource Conservation and Recovery Act of 1976, any statute, regulation or order pertaining to (i) treatment, storage, disposal, generation and transportation of industrial, toxic or hazardous materials or substances or
solid or hazardous waste; (ii) air, water and noise pollution; (iii) groundwater and soil contamination; (iv) the release or threatened release into the environment of industrial, toxic or hazardous materials or substances, or solid
or hazardous waste, including, without limitation, emissions, discharges, injections, spills, escapes or dumping of pollutants, contaminants or chemicals; (v) the protection of wild life, marine life and wetlands, including, without limitation,
all endangered and threatened species; (vi) storage tanks, vessels, abandoned or discarded barrels, containers and other closed receptacles; (vii) health and safety of employees and other persons; and (viii) manufacture, processing,
use, distribution, treatment, storage, disposal, transportation or handling of pollutants, contaminants, toxic or hazardous materials or substances or oil or petroleum products or solid or hazardous waste. As used in this Section 2.23, the
terms “release” and “environment” shall have the meaning set forth in the federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 (“CERCLA”). 

2.24 Investment Banking; Brokerage. There are no claims for investment banking fees, brokerage commissions, finder’s fees or
similar compensation (exclusive of professional fees to lawyers and accountants) in connection with the transactions contemplated by this Agreement payable by the Company or based on any arrangement or agreement made by or on behalf of the Company.

 2.25 Solvency. The Company has not: (a) made a general assignment for the benefit of creditors; (b) filed
any voluntary petition in bankruptcy or suffered the filing of any involuntary petition by its creditors; (c) suffered the appointment of a receiver to take possession of all or substantially all of its assets; (d) suffered the attachment
or other judicial seizure of all or substantially all of its assets; (e) admitted in writing its inability to pay its debts as they come due; or (f) made an offer of settlement, extension or composition to its creditors generally. The
Company is, and reasonably expects to remain (based on its current operating plan and projections), in compliance with all covenants, affirmative and negative, financial or otherwise, under all of the Company’s agreements governing its
indebtedness for borrowed money until the maturity date thereof, including, but not limited to, the short- and long-term indebtedness shown on the Base Balance Sheet. 
 2.26 Information Supplied by the Company. This Agreement, the Disclosure Schedule and the certificates and statements furnished pursuant to this Agreement by or on behalf of the Company do not
contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not misleading in the light of the circumstances under which they were made. To the Company’s knowledge
after due inquiry, there is no material fact directly relating to the business, operations or condition of the Company (including any competitive developments but other than facts which relate to general economic or industry trends or conditions)
that would have a Material Adverse Effect that has not been set forth in this Agreement or in the Disclosure Schedule. The financial projections and other information provided to the Investor was prepared by the Company based on the Company’s
experience in the industry and on assumptions of fact and opinion as to future events 

  
 16 

 
which the Company, at the date of the issuance of such items, believed to be reasonable, but which the Company cannot and does not assure or guarantee the attainment of in any manner. Except as
disclosed in Section 2.26 of the Disclosure Schedule, as of the date hereof, no facts have come to the attention of the Company which would, in its opinion, require the Company to revise or amplify the assumptions underlying such
projections and other estimates or the conclusions derived therefrom in any material respect. Except as disclosed in Section 2.26 of the Disclosure Schedule, to the Company’s knowledge after due inquiry none of the officers or
directors of the Company during the previous five years has been (a) subject to voluntary or involuntary petition under the federal bankruptcy laws or any state insolvency law or the appointment of a receiver, fiscal agent or similar officer by
a court for his business or property; (b) convicted in a criminal proceeding or named as a subject of a pending criminal proceeding (excluding traffic violations and other minor offenses); (c) subject to any order, judgment, or decree (not
subsequently reversed, suspended or vacated) of any court of competent jurisdiction permanently or temporarily enjoining him from, or otherwise imposing limits or conditions on his, engaging in any securities, investment advisory, banking, insurance
or other type of business or acting as an officer or director of a public company; or (d) found by a court of competent jurisdiction in a civil action or by the Securities and Exchange Commission or the Commodity Futures Trading Commission to
have violated any federal or state commodities, securities or unfair trade practices law, which such judgment or finding has not been subsequently reversed, suspended or vacated. 

SECTION 3 REPRESENTATIONS AND WARRANTIES OF THE INVESTOR 
 As a material inducement to the Company to enter into this Agreement and consummate the transactions contemplated hereby, the Investor hereby makes to the Company the representation and warranties
contained in this Section 3. 
 3.1 Investment Status. The Investor represents that it is an “accredited
investor” as such term is defined in Rule 501 under the Securities Act of 1933, as amended (the “Securities Act”). The Investor represents to the Company that it is purchasing the Series F Preferred Stock for its own account,
for investment only and not with a view to, or any present intention of, effecting a distribution of such securities or any part thereof except pursuant to a registration statement or an available exemption under applicable law. The Investor
acknowledges that such securities have not been registered under the Securities Act or the securities laws of any state or other jurisdiction and cannot be disposed of unless they are subsequently registered under the Securities Act and any
applicable state laws or unless an exemption from such registration is available. The Investor (a) has knowledge and experience in financial and business matters so as to be capable of evaluating and understanding the merits and risks of an
investment in the Company, (b) has received certain information concerning the Company and has had the opportunity to obtain additional information as desired in order to evaluate the merits and the risks inherent of an investment in the
Company and (c) is able to bear the economic risk of its investment in the Company and the Series F Preferred Stock and, if issued, the Conversion Shares in that, among other factors, the Investor can afford to hold the Series F Preferred Stock
and the Conversion Shares for an indefinite period and can afford a complete loss of its investment in the Company. 

  
 17 

 3.2 Authority. The Investor represents that it has full right, authority and power
under its charter and bylaws to enter into this Agreement and each agreement, document and instrument to be executed and delivered by or on behalf of the Investor pursuant to or as contemplated by this Agreement and to carry out the transactions
contemplated hereby and thereby, and the execution, delivery and performance by the Investor of this Agreement and each such other agreement, document and instrument have been duly authorized by all necessary action under the Investor’s charter
and bylaws. This Agreement and each agreement, document and instrument executed and delivered by the Investor pursuant to or as contemplated by this Agreement constitute, or when executed and delivered will constitute, valid and binding obligations
of such Investor enforceable in accordance with their respective terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights
generally or by equitable principles, (b) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies, and (c) to the extent that the enforceability of the indemnification
provisions herein and in the Registration Rights Agreement may be limited by applicable law. 
 3.3 Investment Banking;
Brokerage Fees. The Investor has not incurred or become liable for any broker’s or finder’s fee, banking fees or similar compensation relating to or in connection with the transactions contemplated hereby. 

SECTION 4 CONDITIONS OF PURCHASE BY THE INVESTOR AT THE CLOSING 
 The Investor’s obligation to purchase and pay for the Series F Preferred Stock to be purchased by it hereunder shall be subject to compliance by the Company with the agreements herein contained and
to the fulfillment to the Investor’s satisfaction, or the waiver by the Investor, on or before and at the Closing Date, of the following conditions: 
 4.1 Satisfaction of Conditions. The representations and warranties of the Company contained in this Agreement shall be true and correct on and as of the Closing Date, and each of the conditions
specified in this Section 4 shall have been satisfied or waived in writing by the Investor. 
 4.2 Opinion of
Counsel. The Investor shall have received from Gunderson Dettmer LLP an opinion dated as of the Closing Date substantially in the form attached hereto as Exhibit C. 

4.3 Authorization. The Board of Directors and stockholders of the Company shall have duly adopted resolutions in the form
reasonably satisfactory to the Investor and shall have taken all action necessary for the purpose of authorizing the Company to consummate all of the transactions contemplated hereby (including, without limitation, the issuance of the Series F
Preferred Stock and the Conversion Shares as contemplated hereunder). 
 4.4 Ninth Amended and Restated Certificate of
Incorporation. The Company’s Certificate of Incorporation that authorized the shares of Series F Preferred Stock to be issued and sold pursuant to this Agreement shall be in effect as of the Closing Date, and the

  
 18 

 
Company shall have delivered to the Investor a copy of the Certificate of Incorporation certified as of a recent date by the Delaware Secretary of State. 

4.5 Delivery of Documents. The Company shall have executed and/or delivered to the Investor (or shall have caused to be executed
and delivered to the Investor by the appropriate Persons) the following: 
 (a) A Certificate for the Series F Preferred Stock
to be purchased hereunder; 
 (b) Certificates issued by (i) the Secretary of State of the State of Delaware certifying
that the Company has legal existence and is in good standing; and (ii) the Secretary of State (or similar authority) of each jurisdiction in which the Company has qualified to do business as a foreign corporation as to such foreign
qualification; 
 (c) Certificates executed by the President or Chief Executive Officer of the Company to the effect that the
representations and warranties of the Company are true, complete and correct as of the Closing Date and each of the conditions to the obligations of the Investor hereunder have been satisfied or waived; and 

(d) A certificate of the Secretary of the Company which shall certify (i) the resolutions adopted by the Board of Directors and
stockholders as contemplated in Section 4.3 hereof, (ii) the Bylaws (iii) the Certificate of Incorporation and (iv) the names of the officers of the Company authorized to sign this Agreement and the Ancillary Documents, together
with the true signatures of such officers; and 
 (e) Such other supporting documents and certificates as the Investor may
reasonably request and as may be required pursuant to this Agreement. 
 4.6 Omnibus Amendment. The Company and certain
of the existing holders of Preferred Stock shall have entered into the Omnibus Amendment, Admission, Consent and Waiver Agreement in substantially the form attached hereto as Exhibit F (the “Omnibus Amendment”). 

4.7 No Material Adverse Change. There shall not have been any material adverse change in the financial condition, properties,
assets, liabilities, business or operations of the Company whether or not in the ordinary course of business. 
 4.8 All
Proceedings Satisfactory. All corporate and other proceedings taken at the Closing in connection with the transactions contemplated by this Agreement, and all documents and instruments related thereto, shall be reasonably satisfactory in form
and substance to the Investor and the issuance and sale of the Series F Preferred Stock hereunder shall be made in compliance with applicable federal and state laws. 
 4.9 Side Letter. The Company shall have entered into and delivered a side letter with the Investor substantially in the form attached to the Omnibus Amendment. 

  
 19 

 4.10 Consents and Waivers. The Company shall have made all filings with and
notifications of governmental authorities, regulatory agencies and other entities required to be made by such parties in connection with the execution and delivery of this Agreement and the performance of the transactions contemplated hereby other
than pursuant to federal or state securities or blue sky laws, or such other post-closing filings that may be required. The Company and the Investor shall have received all authorizations, waivers, consents and permits, in form and substance
reasonably satisfactory to the Investor, including any and all notices, consents and waivers required from all third parties, including, without limitation, applicable governmental authorities, regulatory agencies, lessors, lenders and contract
parties, required to permit the consummation of the transactions contemplated by this Agreement, and to avoid a breach, default, termination, acceleration or modification of any indenture, loan or credit agreement or any other material agreement,
contract, instrument, mortgage, lien, lease, permit, authorization, order, writ, judgment, injunction, decree, determination or arbitration award as a result of, or in connection with, the execution and performance of this Agreement and the
Ancillary Documents. 
 4.11 Proprietary Information, Developments and Non-Competition Agreements. All Company employees,
current and former, and all consultants, current and former, shall have entered into agreements containing non-competition, non-solicitation, inventions assignment and confidentiality provisions with the Company in the form attached hereto as
Exhibit G-1 (the “Employee Proprietary Information, Developments and Non-Competition Agreement”). 

4.12 Board of Directors. The Board of Directors of the Company on the Closing Date shall consist of eight (8) directors, who
shall be Messrs. Volpe, Shirman, Davoli, Moore, Gresham, Osaka, Minihan and Scannell. 
 SECTION 5 COVENANTS OF THE COMPANY

 Except as provided in Section 5.16, the Company (which term shall be deemed to include, for purposes of this
Section 5, all Subsidiaries of the Company, including any Subsidiary of the Company formed after the date of this Agreement) agrees with the Investor that it shall comply with the following covenants except as shall otherwise be expressly
agreed pursuant to a written consent of the holders of at least sixty-six and two-thirds percent (66 2/3%) of the outstanding shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E
Preferred Stock and Series F Preferred Stock, voting together as a single class, for so long as any shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock or Series
F Preferred Stock remain outstanding: 
 5.1 Financial Statements. The Company shall maintain a system of accounts from
which financial statements prepared in accordance with GAAP consistently applied can be derived, keep full and complete financial records and furnish to each of the Investor the following reports: (a) within 120 days after the end of each
fiscal year, a copy of the consolidated balance sheet of the Company as at the end of such year, together with consolidated statements of income and cash flow of the Company for such year, audited by a nationally recognized independent public
accounting firm selected by the Board of Directors, each of the 

  
 20 

 
foregoing balance sheets and statements of income and cash flow to set forth in comparative form the corresponding figures for the prior fiscal period; (b) within 45 days after the end of
each quarterly accounting period, an unaudited consolidated balance sheet of the Company as at the end of such quarter and an unaudited consolidated statement of income and cash flow for the Company for such quarterly period and for the year to
date, including the corresponding figures for the prior fiscal periods in comparative form, and accompanied with a certificate of the Chief Executive Officer, Vice President of Finance or the Chief Financial Officer or similar officer of the
Company, on behalf of the Company, stating that nothing has come to the attention of management of the Company which would indicate that such financial statements were not true and correct in all material respects as of the date thereof;
(c) within 30 days after the end of each monthly accounting period, an unaudited consolidated balance sheet of the Company as at the end of such monthly period and unaudited consolidated statements of income and cash flow for the Company for
such monthly period and for the year to date; (d) promptly after the same are available, copies of any financial statements and reports that the Company shall send or make available generally to any of its stockholders or any regulatory
authority (other than tax returns or other reports provided to regulatory authorities in the ordinary course of business); and (e) such other financial information as the Investor may reasonably request. Notwithstanding the foregoing, the
Company shall have no obligation to furnish the information set forth in clauses (a), (b) and (c) of the immediately preceding sentence to an Investor from and after such time as such Investor and its Affiliates fail to hold at least three
percent (3%) of the shares of any of the (i) Series A Preferred Stock (or shares of Common Stock issued upon conversion thereof) purchased pursuant to that certain Series A Agreement, (ii) Series B Preferred Stock (or shares of Common
Stock issued upon conversion thereof) purchased pursuant to the Series B Agreement, (iii) Series C Preferred Stock (or shares of Common Stock issued upon conversion thereof) purchased pursuant to the Series C Agreement, (iv) Series D
Preferred Stock (or shares of Common Stock issued upon conversion thereof) purchased pursuant to the Series D Purchase Agreements, (v) Series E Preferred Stock (or shares of Common Stock issued upon conversion thereof) purchased pursuant to the
Series E Purchase Agreements (in each case, as adjusted for any stock split, stock dividend, combination or the like) or (vi) Series F Preferred Stock (or shares of Common Stock issued upon conversion thereof) purchased pursuant to this
Agreement (as adjusted for any stock split, stock dividend, combination or the like). 
 5.2 Budget. The Company shall
prepare and submit to the Investor so long as the Investor continues to hold, together with its Affiliates, at least five percent (5%) of the shares of Series F Preferred Stock (or shares of Common Stock issued upon conversion thereof)
purchased pursuant to this Agreement (as adjusted for any stock split, stock dividend, combination or the like), a budget and operating plan for the Company for each fiscal year of the Company at least thirty (30) days prior to the beginning of
such fiscal year. 
 5.3 Conduct of Business. The Company will engage principally in the business now conducted by the
Company or a business or businesses similar thereto. The Company will use its reasonable best efforts to keep in full force and effect its corporate existence and all Intellectual Property Rights owned by it and useful in its business (except such
rights as the Board of Directors has reasonably determined are not material to the Company’s continuing operations). 

  
 21 

 5.4 Payment of Taxes. The Company shall pay and discharge all lawful Taxes,
assessments and governmental charges or levies imposed upon it or its property before the same shall become in default, provided, however, that the Company shall not be required to pay and discharge any such Tax, assessment, charge,
levy or claim so long as the validity thereof is being contested by it in good faith by appropriate proceedings and an adequate reserve therefor has been established. 
 5.5 Compliance with Laws. The Company shall comply with all applicable statutes, ordinances, orders, rules, regulations, policies and practices promulgated by any foreign or U.S. federal, state,
municipal or other governmental authority which apply to the conduct of its business, except where the failure to so comply would not, individually or in the aggregate, have a Material Adverse Effect. The Company and its employees and directors
shall hold all Permits as may be necessary to conduct the business of the Company in substantially the manner conducted or proposed to be conducted by the Company as of the date of this Agreement, except where the failure to hold such Permits would
not, individually or in the aggregate, have a Material Adverse Effect. 
 5.6 Adverse Changes. To the extent not
disclosed in the financial statements to be provided under Section 5.1, the Company will promptly advise the Investor of any event or events which, individually or in the aggregate, represent a material adverse change in the condition or
business, financial or otherwise, of the Company, including notices of auditor communications and notices of material defaults under material contracts, and of each suit or proceeding commenced or threatened against the Company which, if adversely
determined, could result in a Material Adverse Effect. 
 5.7 Insurance. The Company will keep its insurable properties
insured, upon reasonable business terms, against liability and the perils of casualty, fire, business interruption and extended coverage in commercially reasonable amounts of coverage to the extent customarily maintained by companies in the same or
similar business and of similar size as the Company. The Company will also maintain with such insurers insurance against other hazards and risks and liability to persons and property in commercially reasonable amounts and to the extent and in the
manner customary for companies engaged in the same or similar business and of similar size, including errors and omissions liability insurance. 
 5.8 Life Insurance. The Company shall use commercially reasonable efforts to obtain, maintain, and continue to pay the premiums on (a) key person life insurance policies from financially sound
and reputable insurers, in the amount of $2,000,000 on each of Mark A. Shirman and Richard Scannell, for so long as they are employed by the Company, and (b) directors and officers liability insurance from financially sound and reputable
insurers in an amount of at least $2,000,000, with proceeds on all such policies payable to the Company. The Company hereby agrees that it shall not assign, borrow against or pledge any such policies. 

5.9 Affiliated Transactions. All transactions by and between (i) the Company, and (ii) any officer, employee,
consultant, independent contractor, director or stockholder (including any trustee or beneficiary of any trust which is a stockholder) of the Company, or any member of such officer’s, employee’s, director’s, consultant’s,
independent contractor’s or stockholder’s immediate family, or Persons controlling, controlled by, under common control 

  
 22 

 
with or otherwise affiliated with such officer, employee, director, consultant, independent contractor or stockholder or his or her immediate family, and any competitors, customers, distributors,
vendors or suppliers of the Company shall be conducted on an arm’s-length basis, shall be on terms and conditions no less favorable to the Company than could be obtained from non-related persons and shall require the approval in advance by the
majority of the disinterested members of the Board of Directors, after full disclosure of the terms thereof. 
 5.10
Information and Inspection. The Company will furnish to the Investor upon reasonable notice full information regarding its business and, at all reasonable times during the Company’s normal business hours and upon reasonable notice and as
often as the Investor shall reasonably request, permit any authorized representative designated by the Investor to visit and inspect any of its properties, including its books and records (and to make copies and extracts therefrom), and to discuss
their affairs, finances and accounts with their officers. Each Investor agrees to use, and to use its best efforts to insure that its authorized representatives use, the same degree of care as such Investor uses to protect its own confidential
information, any information furnished to it which the Company identifies as being confidential or proprietary (so long as such information is not in the public domain), except that such Investor may disclose such proprietary or confidential
information as required by law or to any partner, employee, affiliate, authorized representative, subsidiary, parent or prospective transferee of such Investor for the purpose of evaluating its investment in the Company as long as such partner,
employee, affiliate, authorized representative, subsidiary, parent or prospective transferee is advised of, and agrees to be bound by, the confidentiality provisions similar to those in this Section 5.10. Notwithstanding any provisions of this
Agreement to the contrary, except as reasonably necessary to comply with applicable securities laws, each party (and each employee, representative, or other agent of such party) may disclose to any and all persons, without limitation of any kind,
the tax treatment and tax structure of the transaction contemplated herein and all materials of any kind (including opinions or other tax analyses) that are provided to such party relating to such tax treatment and tax structure. 

5.11 Management Compensation. Compensation paid by the Company to its employees will be comparable to compensation paid to
substantially similarly situated employees in companies in the same or similar businesses of similar size and maturity and with comparable financial performance as the Company. Any grants of capital stock or options to employees, directors or
consultants of the Company shall be made pursuant to option and stock plans recommended by the Compensation Committee of the Board of Directors and adopted by the Board of Directors and conditioned upon the grantee agreeing to be bound by the terms
of an option and/or stock agreement containing first refusal rights of the Company with respect to transfers of such stock or options, “lock-up” provisions upon terms as determined by the Compensation Committee of the Board of Directors
prohibiting such employee, director or consultant from selling or otherwise transferring such stock or options for a certain period of time in connection with a public offering of Common Stock by the Company and such other provisions as determined
by the Compensation Committee of the Board of Directors. 
 5.12 [Intentionally Omitted.] 

5.13 Stock Options; Restricted Stock. All future grants of stock options or restricted stock to employees or consultants shall be
approved by the Board of Directors or the 

  
 23 

 
Compensation Committee of the Board of Directors, shall have a four year vesting schedule with a cliff vesting of 25% on the one year anniversary of the date of grant and further vesting of
6.25% per quarter thereafter for the remaining term (unless otherwise agreed to by the Compensation Committee of the Board of Directors) and shall be conditioned upon the grantee agreeing to be bound by the terms of an option and/or stock
agreement containing first refusal rights of the Company with respect to transfers of such stock or options, “lock-up” provisions upon terms as determined by the Compensation Committee of the Board of Directors prohibiting such employee,
director or consultant from selling or otherwise transferring such stock or options for a certain period of time in connection with a public offering of Common Stock by the Company. 

5.14 No Conflicting Agreements. The Company will not enter into or amend any agreement, contract, commitment or understanding
which would restrict or prohibit the exercise by the Investor of any of their rights under this Agreement or any of the Ancillary Documents. 
 5.15 Employee Confidentiality, Non-Competition and Invention Assignment Agreements. The Company shall obtain from all new employees and consultants duly executed Non-Competition, Confidentiality
and Inventions Assignment Agreements in substantially the form of Exhibit G-2 attached hereto or, if approved by the Board of Directors, in substantially the form of Exhibit G-1 attached hereto. 

5.16 Enforcement of Certain Agreements. The Company agrees that it will diligently enforce all of its rights under the
Stockholders Agreement and the Employee Proprietary Information, Developments and Non-Competition Agreements and will not waive or release any rights under, or make any amendment or modification to, any such agreements. 

5.17 Negative Covenants. 
 (a) So long as any shares of Series A Preferred Stock shall be outstanding, the Company shall not, without first having obtained the affirmative vote or written consent of the holders of not less than a
majority of the outstanding shares of Series A Preferred Stock, voting as a single class: 
 (i) take any action or enter into
any agreement to increase or decrease the number of authorized shares of Series A Preferred Stock; or 
 (ii) take any action
or amend, alter, repeal or waive any provision of, or add any provision to, the Certificate of Incorporation or Bylaws (whether by merger, consolidation or otherwise) in a manner that changes the rights, preferences or privileges of the Series A
Preferred Stock or that otherwise changes or adversely affects the rights of the holders of the Series A Preferred Stock without changing or adversely affecting the rights of every other series of Preferred Stock in the same manner. 

(b) So long as any shares of Series B Preferred Stock shall be outstanding, the Company shall not, without first having obtained the
affirmative vote or written consent of the holders of not less than a majority of the outstanding shares of Series B Preferred Stock, voting as a single class: 

  
 24 

 (i) take any action or enter into any agreement to increase or decrease the number of
authorized shares of Series B Preferred Stock; or 
 (ii) take any action or amend, alter, repeal or waive any provision of, or
add any provision to, the Certificate of Incorporation or Bylaws (whether by merger, consolidation or otherwise) in a manner that changes the rights, preferences or privileges of the Series B Preferred Stock or that otherwise changes or adversely
affects the rights of the holders of the Series B Preferred Stock without changing or adversely affecting the rights of every other series of Preferred Stock in the same manner. 

(c) So long as any shares of Series C Preferred Stock shall be outstanding, the Company shall not, without first having obtained the
affirmative vote or written consent of the holders of not less than a majority of the outstanding shares of Series C Preferred Stock, voting as a single class: 
 (i) take any action or enter into any agreement to increase or decrease the number of authorized shares of Series C Preferred Stock; or 

(ii) take any action or amend, alter, repeal or waive any provision of, or add any provision to, the Certificate of Incorporation or
Bylaws (whether by merger, consolidation or otherwise) in a manner that changes the rights, preferences or privileges of the Series C Preferred Stock or that otherwise changes or adversely affects the rights of the holders of the Series C Preferred
Stock without changing or adversely affecting the rights of every other series of Preferred Stock in the same manner. 
 (d) So
long as any shares of Series D Preferred Stock shall be outstanding, the Company shall not, without first having obtained the affirmative vote or written consent of the holders of not less than a majority of the outstanding shares of Series D
Preferred Stock, voting as a single class: 
 (i) take any action or enter into any agreement to increase or decrease the
number of authorized shares of Series D Preferred Stock; or 
 (ii) take any action or amend, alter, repeal or waive any
provision of, or add any provision to, the Certificate of Incorporation or Bylaws (whether by merger, consolidation or otherwise) in a manner that changes the rights, preferences or privileges of the Series D Preferred Stock or that otherwise
changes or adversely affects the rights of the holders of the Series D Preferred Stock without changing or adversely affecting the rights of every other series of Preferred Stock in the same manner; or 

(iii) effect any Liquidation Event or Extraordinary Transaction (each as defined in the Certificate of Incorporation) in which the
aggregate consideration payable (A) to the Company, (B) to the Company to be distributed to its stockholders, or (C) to the Company’s stockholders is less than $40,000,000. 

(e) So long as any shares of Series E Preferred Stock shall be outstanding, the Company shall not, without first having obtained the
affirmative vote or written 

  
 25 

 
consent of the holders of not less than a majority of the outstanding shares of Series E Preferred Stock, voting as a single class: 

(i) take any action or enter into any agreement to increase or decrease the number of authorized shares of Series E Preferred Stock; or

 (ii) take any action or amend, alter, repeal or waive any provision of, or add any provision to, the Certificate of
Incorporation or Bylaws (whether by merger, consolidation or otherwise) in a manner that changes the rights, preferences or privileges of the Series E Preferred Stock or that otherwise changes or adversely affects the rights of the holders of the
Series E Preferred Stock without changing or adversely affecting the rights of every other series of Preferred Stock in the same manner. 
 (f) So long as any shares of Series F Preferred Stock shall be outstanding, the Corporation shall not, without first having obtained the affirmative vote or written consent of the holders of not less than
sixty-six and two-thirds percent (66 2/3%) of the outstanding shares of Series F Preferred Stock, voting as a single class: 
 (i) take any action or enter into any agreement to increase or decrease the number of authorized shares of Series F Preferred Stock; or 

(ii) take an action or amend, alter, repeal or waive any provision of, or add any provision to, the Certificate of Incorporation or
Bylaws (whether by merger, consolidation or otherwise) in a manner that changes the rights, preferences or privileges of the Series F Preferred Stock or that otherwise changes or adversely affects the rights of the holders of the Series F
Preferred Stock without changing or adversely affecting the rights of every other series of Preferred Stock in the same manner. 

(g) So long as any shares of Series F Preferred Stock shall be outstanding, the Company shall not, without first having obtained the
affirmative vote or written consent of the holders of not less than ninety-five percent (95%) of the outstanding shares of Series F Preferred Stock, voting as a single class, (i) effect any Liquidation Event or Extraordinary Transaction
(each as defined in the Certificate of Incorporation) in which the aggregate consideration payable (A) to the Company, (B) to the Company to be distributed to its stockholders or (C) to the Company’s stockholders is less than
$210,000,000 or (ii) amend, alter, repeal or waive any provision of this Section 5.17(g). 
 (h) So long as any shares
of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock or Series F Preferred Stock shall be outstanding, the Company shall not, without having first obtained the
affirmative vote or written consent of the holders of not less than sixty-six and two-thirds percent (66 2/3%) of the outstanding shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock,
Series E Preferred Stock and Series F Preferred Stock voting together as a single class: 
 (i) create or authorize any new
class of securities which has a preference over, or is offered with rights on a pari passu basis with, the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock, the

  
 26 

 
Series E Preferred Stock or the Series F Preferred Stock with respect to the distribution of assets or other amounts in connection with a liquidation, dissolution or winding up of the Company or
an Extraordinary Transaction (as defined in the Company’s Certificate of Incorporation) or as to dividends or redemption rights; or 
 (ii) (w) effect any liquidation, dissolution or winding up of the Company; (x) merge with or into or consolidate with any other corporation; (y) sell or otherwise dispose of all or substantially
all of the properties or assets of the Company or consent to or facilitate the sale of all or a majority of its outstanding capital stock (whether in one transaction or a series of related transactions); or (z) effect any other transaction or
series of related transactions in which more than fifty percent (50%) of the voting power of the Company is disposed of; or 
 (iii) declare or pay dividends or make any distributions of cash, property or securities of the Company with respect to any shares of its Common Stock, Series A Preferred Stock, Series B Preferred Stock,
Series C Preferred Stock, Series 1 Preferred Stock, Series D Preferred Stock, Series E Preferred Stock or Series F Preferred Stock or any other capital stock of the Company other than dividends payable solely in Common Stock; or 

(iv) repurchase, redeem or otherwise acquire any of the outstanding capital stock of the Company, except for (i) the repurchase of
unvested shares from employees, directors or consultants at cost, pursuant to the terms of agreements which were entered into in connection with the original issuance of such capital stock (or options to purchase such capital stock); and
(ii) the redemption of the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock, the Series E Preferred Stock or the Series F Preferred Stock pursuant to and in accordance with the
provisions of the Certificate of Incorporation; or 
 (v) authorize or engage in any acquisition of any corporation or business
concern, whether by acquisition of cash, capital stock or otherwise, or make any other investment in another business entity or any joint venture or similar arrangement if such acquisition or investment would involve a payment or other commitment by
the Company in excess of $150,000, other than customer contracts entered into in the ordinary course of business; or 
 (vi)
increase the number of shares authorized to be issued pursuant to the Company’s stock option plans or other equity incentive plans in effect as of the Closing Date; or 
 (vii) authorize any reclassification or recapitalization of the outstanding capital stock of the Company; or 
 (viii) increase the authorized number of directors constituting the Company’s Board of Directors to more than eight (8); or 
 (ix) other than as covered by Section 5.17(a)(ii), Section 5.17(b)(ii), Section 5.17(c)(ii), Section 5.17(d)(ii), Section 5.17(e)(ii), Section 5.17(f)(ii) and
Section 5.17(g) above, take any an action or amend, alter, repeal or waive any provision of, or 

  
 27 

 
add any provision to, the Certificate of Incorporation or By-laws (whether merger, consolidation or otherwise) in a manner that changes the rights, preferences or privileges of the Preferred
Stock as a class or that otherwise adversely affects the rights of the holders of Preferred Stock as a class. 
 (i) So long as
any shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock or Series F Preferred Stock shall remain outstanding, the Company shall not, without having obtained the
affirmative vote or written consent of a majority of the members of the Company’s Board of Directors: 
 (i) take any
action that would cause the Company to incur any debt, liability or other obligation that would result in aggregate payments in excess of $150,000, except for customer contracts entered into in the ordinary course of business; or 

(ii) enter into any agreements for the lease or acquisition of facilities or real property; or 

(iii) take action on any personnel hiring or termination decisions involving the CEO, President or any senior vice president.

 (j) Except upon exercise of the Series B Warrants outstanding as of the date hereof and listed on Section 2.4 of the
Disclosure Schedule, the Company shall not issue any additional shares of Series B Preferred Stock unless such issuance is unanimously approved by the Company’s Board of Directors. 

(k) Except upon exercise of the Series C Warrants outstanding as of the date hereof and listed on Section 2.4 of the Disclosure
Schedule, the Company shall not issue any additional shares of Series C Preferred Stock unless such issuance is unanimously approved by the Company’s Board of Directors. 

(l) Except upon exercise of the Series D Warrants outstanding as of the date hereof and listed on Section 2.4 of the Disclosure
Schedule, after the Closing, the Company shall not issue any additional shares of Series D Preferred Stock unless such issuance is unanimously approved by the Company’s Board of Directors. 

SECTION 5A ADDITIONAL COVENANTS 
 The Company agrees that it shall comply with the following covenants subject to any similar rights outstanding as of the date hereof: 

5A.1 Right of Notice on Extraordinary Transaction. 
 (a) If the Company receives a bona fide proposal (a “Proposal”) from one or more third parties (the “Third Party”) to enter into a definitive agreement with the Company
that would result or would reasonably be expected to result in an Extraordinary Transaction (as hereinafter defined), the Company shall, within two business days of receipt of such Proposal, notify the Investor in writing of (i) such Proposal
and (ii) the identity of all other 

  
 28 

 
parties who have or will receive a similar notice of the Proposal (each a “Notice Party”); provided, however, that the Company shall be under no obligation to
inform the Investor of the financial terms of the Proposal or the identity of the Third Party. If requested by the Investor, and subject to the execution of a mutually acceptable confidentiality agreement, the Company shall immediately give the
Investor full access to all of the information and other diligence materials, including all non-public information, provided or made available to the Third Party in connection with the Proposal. For a period of not less than 10 business days
following receipt by the Investor of the notice of a Proposal, the Investor shall have the right to submit one or more proposals (an “Investor Proposal”) to acquire the Company or enter into another Extraordinary Transaction with
the Company. Prior to the expiration of such 10-business day period, the Company shall not enter into any agreement or arrangement, whether binding or non-binding, with the Third Party or any other person relating to an Extraordinary Transaction,
including any that would impose limitations or restrictions (including by providing for the Company to pay termination or break-up fees) on the Company’s ability to (i) provide information (including non-public information) to the
Investor, (ii) consider or participate in negotiations with the Investor regarding an Investor Proposal, (iii) receive, accept, approve, recommend to its securityholders or enter into any agreement or arrangement with the Investor relating
to an Investor Proposal, (iv) complete an Extraordinary Transaction with the Investor or (v) otherwise comply with the provisions of this Section 5A.1. For the avoidance of doubt, a letter of intent, term sheet, standstill
agreement or form of definitive agreement may be a Proposal for purposes of this Section 5A.1. Notwithstanding anything in this Agreement to the contrary, this Section 5A.1(a) shall not be applicable to any proposal made by a
Notice Party during the 10 business day period described in the third and fourth sentences of this Section 5A.1(a). 

(b) An “Extraordinary Transaction” means (i) a merger or consolidation of Company with or into another entity
(except for a merger or consolidation in which the holders of capital stock of Company immediately prior to such merger or consolidation continue to hold at least a majority of the outstanding voting power of such surviving entity), (ii) the
closing of the sale or transfer of all or substantially all of the properties and assets of Company (including by way of lease, license or otherwise), (iii) the closing of any purchase of shares of capital stock of Company (either through a
restricted stock purchase or a tender of such shares) by any party or group that did not beneficially own a majority of the voting power of the outstanding shares of capital stock of Company immediately prior to such purchase, the effect of which is
that such party or group beneficially owns at least a majority of such voting power after such purchase, or (iv) the redemption or repurchase of shares (other than the Preferred Stock as provided in its Certificate of Incorporation, as
amended), the effect of which is that any party or group that did not beneficially own a majority of the voting power of the outstanding shares of capital stock of Company immediately prior to such redemption or repurchase owns at least a majority
of such voting power of the outstanding shares of capital stock of Company after such redemption or repurchase. 
 5A.2
Additional Information. The Company will furnish to the Investor the following information: (a) prompt notice of any material litigation, (b) auditor communications and (c) notices of material defaults under material contracts.

 5A.3 Right of First Offer on Subsequent Issuances. 

  
 29 

 (a) General Prohibition; Right of The Investor. The Company shall not sell or
issue any New Securities (as hereinafter defined) unless it has complied with the terms of this Section 5A.3. Subject in all respects to the right of first offer of Dell Products L.P. or any permitted assignee(s) (“Dell”) as
set forth in Section 5.6 of that certain Securities Purchase Agreement dated March 6, 2008 by and between Dell and the Company (the “Dell SPA”) and the pari passu right of first offer of Cisco Systems, Inc. or any
permitted assignee(s) (“Cisco”) as set forth in Section 5A.3 of that certain Series F Preferred Stock Purchase Agreement dated November 4, 2008 by and between the Company and the Investors (as defined therein) (the
“Prior Series F Agreement”) , the Investor shall have the right to purchase all or any part of any New Securities that the Company may from time to time sell or issue after the date of this Agreement and that Dell has not elected to
purchase pursuant to Section 5.6 of the Dell SPA and Cisco has not elected to purchase pursuant to Section 5A.3 of the Prior Series F Agreement. 
 (b) New Securities. “New Securities” shall mean any shares of Common Stock or Preferred Stock, whether or not now authorized, and rights, options or warrants to purchase such
Common Stock or Preferred Stock, and securities of any type whatsoever that are, or may become, convertible into or exchangeable for such Common Stock or Preferred Stock; provided, that the term “New Securities” does not include:

 (i) shares of Common Stock issued or issuable upon conversion of outstanding shares of Preferred Stock; 

(ii) shares of Common Stock and shares of Series 1 Stock, as appropriately adjusted for stock splits, stock dividends, recapitalizations
and the like (or options to purchase such Common Stock or Series 1 Stock) issued or issuable pursuant to the 2001 Plan, the Israeli Option Plan or the Series 1 Plan (collectively, the “Equity Plans”) and any other written stock and
option plans approved by a majority of the Board; 
 (iii) shares of the Company’s Common Stock or Preferred Stock (and/or
options, rights or warrants for Common Stock or Preferred Stock) issued or issuable in connection with an acquisition transaction, building or equipment lease transaction, bank loan transaction, strategic alliance or partnering arrangement that is
not primarily for equity financing purposes and that is approved by a majority of the Board; 
 (iv) any securities issuable
upon exercise of any options, warrants, convertible notes or other rights to purchase any securities of the Company outstanding on the date of this Agreement; 
 (v) shares of the Company’s Common Stock or Preferred Stock issued in connection with any stock split or stock dividend; or 
 (vi) securities offered by the Company to the public pursuant to a Qualified Public Offering (as defined below). 
 As defined herein, a “Qualified Public Offering” means (i) the offer and sale of Common Stock pursuant to a registration statement under the Securities Act of which the aggregate net
proceeds attributable to sales for the account of the Company exceed $55,000,000, (ii) such Common Stock is listed for trading on the New York Stock Exchange, the NASDAQ Global Market or the

  
 30 

 
NASDAQ Global Select Market and (iii) the per share public offering price (net of underwriter discounts and commissions) exceeds $3.25 per share (adjusted as appropriate for stock splits,
stock dividends, recapitalizations and the like). 
 (c) Procedures. 

(i) If the Company proposes to issue and sell New Securities pursuant to a bona fide written offer by one or more persons to subscribe
for or purchase such New Securities, it shall give written notice to the Investor stating that it intends to accept such offer and issue and sell such New Securities (the “Notice”). The Notice shall set forth (A) a description
of the New Securities, (B) the number or amount of New Securities to be issued and sold, (C) the cash price or other consideration for the New Securities and other terms and conditions upon which the Company proposes to issue and sell such
New Securities, (D) the name and address of each person that has offered to subscribe for or purchase such New Securities and (E) the number or amount of New Securities that Dell and Cisco have elected to purchase (the number of New
Securities to be issued and sold following the exercise or non-exercise, in whole or in part, of Dell’s right of first offer under Section 5.6 of the Dell SPA and Cisco’s right of first offer under Section 5A.3 of the Prior
Series F Agreement, the “Remaining New Securities”). The Investor shall have 10 days from the receipt of such Notice to agree to purchase all or any portion of such Remaining New Securities for the price and upon the terms and
conditions specified in the Notice by giving written notice to the Company and stating in such notice the number or amount of Remaining New Securities to be purchased at the price and on the terms and conditions set forth in the Notice (the
“Purchase”). 
 (ii) Promptly following any such agreement by the Investor, the Company and the Investor will
proceed to prepare and file with the appropriate Governmental Authorities all Consents that are necessary in order to consummate the transactions contemplated by the Purchase and will diligently and expeditiously prosecute, and will cooperate fully
with each other in the prosecution of such matters. 
 (iii) Within 10 days after the Investor has obtained from each
Governmental Authority all Consents, if any, necessary to consummate the transactions contemplated by the Purchase, including such Consents as may be required under the HSR Act, the Investor and the Company shall consummate the Purchase. Payment
shall be made by the Investor at the closing of the Purchase by wire transfer of immediately available funds and upon delivery of such purchase price, the Company shall issue certificate(s) evidencing such Remaining New Securities to or as directed
by the Investor. 
 (d) Sales by Company. The Company shall have 50 days from the expiration of the period set forth in
Section 5A.3(c) to sell all or any Remaining New Securities that were not agreed to be purchased by the Investor, at a price not less than, and upon terms and conditions not more favorable to the purchasers of such Remaining New Securities
than, the price, terms and conditions specified in the Notice. If the Company has not issued and sold the Remaining New Securities within such period, then after such period Company shall not issue or sell any Remaining New Securities without again
complying with the provisions of Section 5.6 of the Dell SPA, Section 5A.3 of the Prior Series F Agreement and this Section 5A.3. 

  
 31 

 (e) Spin-Out Preemptive Rights. If, at any time after the date of this Agreement,
(i) Company creates a subsidiary that is not a wholly owned subsidiary (as hereinafter defined); (ii) any wholly owned subsidiary sells or transfers any shares of capital stock to any entity that is not a wholly owned subsidiary;
(iii) any wholly-owned Subsidiary merges, consolidates or takes any other action that results in such subsidiary not remaining a wholly owned subsidiary; or (iv) any wholly owned subsidiary sells all or substantially all of its assets (in
a transaction that is not an Extraordinary Transaction) to any person or entity that is not a wholly owned subsidiary, then in each case Company shall cause such subsidiary (or the surviving or successor entity or purchaser of assets) (the
“Spin-out Entity”) to (A) issue to the Investor shares of preferred stock or common stock, as applicable, of the Spin-out Entity having relative rights, privileges and preferences equivalent to the relative rights, privileges
and preferences of the Series F Preferred Stock and (B) enter into agreements with the Investor having substantially the same rights as any agreements between the Investor and the Company. The number of shares of such preferred stock and common
stock of the Spin-out Entity issued to the Investor shall be sufficient so that the Investor shall thereafter have an equity ownership interest in the Spin-out Entity equal to its equity ownership interest in the Company at such time on a
fully-diluted basis, including all options reserved for issuance under any stock incentive, stock option, stock purchase or stock appreciation plan or arrangement maintained by the Company or such Spin-out Entity. A “wholly owned
subsidiary” is any entity that Company owns, holds and controls all of its capital stock equity securities or other interests, either directly or through one or more other wholly owned subsidiaries. 

SECTION 6 SURVIVAL; INDEMNIFICATION 
 6.1 Survival of Representations Warranties and Covenants. All covenants, agreements, representations and warranties of the Company and the Investor made herein and in the certificates, lists,
exhibits, schedules or other written information delivered or furnished to any Investor in connection herewith (a) shall be deemed to have been relied upon by the party or parties to whom they are made and shall survive the execution and
delivery of this Agreement and the Closings and shall in no way be affected by any investigation of the subject matter thereof made by or on behalf of the Investor or the Company, and (b) shall bind the parties’ successors and assigns
(including, without limitation, any successor to the Company by way of acquisition, merger or otherwise), whether so expressed or not, and, except as otherwise provided in this Agreement, all such covenants, agreements, representations and
warranties shall inure to the benefit of the Investor’s successors and assigns and to their transferees, whether so expressed or not. 
 6.2 Indemnification for Vicarious Liability. 
 (a) Without limitation of
any other provision of this Agreement, the Company agrees to defend, indemnify and hold the Investor who may be deemed to control the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, their
affiliates and their respective direct and indirect partners, members, stockholders, directors, officers, employees, agents and representatives (collectively, the “Indemnified Parties” and each individually, an “Indemnified
Party”) harmless from and against any and all losses, claims, damages, obligations, liens, assessments, judgments, fines, liabilities and other costs and expenses, including, without limitation, interest, penalties and any investigation,
legal and other 

  
 32 

 
expenses incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted, as the same are actually incurred by the Indemnified Parties, of
any kind or nature whatsoever (collectively “Losses”) which may be sustained or suffered by any such Indemnified Party, in their capacity as or as a result of any action taken or omitted to be taken by them as a director,
stockholder, representative or controlling person of the Company, without regard to any investigation by any of the Indemnified Parties, based upon, arising out of, by reason of or otherwise in respect of or in connection with third party or
governmental claims under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise (“Laws”), including, without limitation, any third party or governmental claim alleging
so-called control person liability or securities law liability; provided, however, that the Company will not be liable to the extent that such Loss arises from and is based on (A) an untrue statement or omission or alleged untrue
statement or omission in a registration statement or prospectus which is made in reliance on and in conformity with written information furnished to the Company in an instrument duly executed by or on behalf of such Indemnified Party specifically
stating that it is for use in the preparation thereof, (B) a knowing and willful violation of any Law or Laws by an Indemnified Party, as finally determined by a court of competent jurisdiction or (C) a fraudulent act or omission by the
Indemnified Party as finally determined by a court of competent jurisdiction. 
 (b) If the indemnification provided for in
Section 6.2(a) above for any reason (other than for any reason specified in items (A), (B), and (C) of the proviso in Section 6.2(a)) is held by a court of competent jurisdiction to be unavailable to an Indemnified Party in respect of
any Losses referred to therein, then the Company, in lieu of indemnifying such Indemnified Party thereunder, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Losses (i) in such proportion as is
appropriate to reflect the relative benefits received by the Company and the Indemnified Parties, or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect
not only the relative benefits referred to in clause (i) above but also the relative fault of the Company and the Indemnified Parties in connection with the action or inaction which resulted in such Losses, as well as any other relevant
equitable considerations. In connection with any registration of the Company’s securities, the relative benefits received by the Company and the Indemnified Parties shall be deemed to be in the same respective proportions that the net proceeds
from the offering (before deducting expenses) received by the Company and the Indemnified Parties, in each case as set forth in the table on the cover page of the applicable prospectus, bear to the aggregate public offering price of the securities
so offered. The relative fault of the Company and the Indemnified Parties shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the Company and the Indemnified Parties and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

Each of the Company and the Indemnified Parties agrees that it would not be just and equitable if contribution pursuant to this
Section 6.2(b) were determined by pro rata or per capita allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. In connection with the
registration of the Company’s securities, in no event shall the Investor be required to contribute any amount under this Section 6.2(b) in excess of the lesser of (i) that proportion of

  
 33 

 
the total of such Losses indemnified against equal to the proportion of the total securities sold under such registration statement which is being sold by the Investor, or (ii) the proceeds
received by the Investor from its sale of securities under such registration statement. No person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not found guilty of such fraudulent misrepresentation. 
 (c) The indemnification and contribution provided
for in this Section 6.2 will remain in full force and effect regardless of any investigation made by or on behalf of the Indemnified Parties or any officer, director, partner, member, employee, agent or controlling person of the Indemnified
Parties. The provisions of this Section 6.2 are in addition to and shall supplement those set forth in any other agreement between the Company and the Indemnified Parties. 

Notwithstanding anything to the contrary herein, the Company agrees to pay and hold the Investor harmless against liability for payment
of all reasonable fees and disbursement of counsel in connection with the enforcement, amendment, modification or waiver of this Agreement and the agreements, documents and instruments contemplated and executed pursuant hereto. 

6.3 Attorneys’ Fees. In the event that any suit or action is instituted to enforce any provision in this Agreement, the
prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement and the agreements, documents and instruments
contemplated hereby and executed pursuant hereto, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. 

SECTION 7 DEFINITIONS 
 Unless the context specifically requires otherwise, capitalized terms used in this Agreement shall have the meaning specified below: 

An “Affiliate” of any Person means a Person that directly or indirectly, through one or more intermediaries, controls,
is controlled by or is under common control with the first mentioned Person. A Person shall be deemed to control another Person if such first Person possesses directly or indirectly the power to direct, or cause the direction of, the management and
policies of the second Person, whether through the ownership of voting securities, by contract or otherwise. 

“Code” means the Internal Revenue Code of 1986, as amended and the rules and regulations promulgated thereunder.

 “ERISA” means the Employee Retirement Income Security Act of 1979, as amended, and the regulations
promulgated thereunder. 
 “Employee Program” means any employee benefit or welfare plan, stock option, bonus,
restricted stock incentive plan or similar equity-based plan, severance pay policy or 

  
 34 

 
agreement, deferred compensation agreement, fringe-benefit plan or arrangement or any similar plan or agreement. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Founder” means Mark A. Shirman. 
 “Intellectual Property
Rights” means all intellectual property rights, including all patents, patent applications, patent rights, trademarks, trademark applications, trade names, service marks, service mark applications, domain names, copyrights, copyright
applications, computer programs and other computer software (including, without limitation, all source and object code, algorithms, architecture, structure, display screens, layouts and development tools), inventions, designs, samples,
specifications, schematics, know-how, trade secrets, proprietary processes and formulae, and development tools, promotional materials, databases, customer lists, supplier, vendor and dealer lists and marketing research, and all documentation and
media constituting, describing or relating to the foregoing, including without limitation, manuals, memoranda and records. 

“Lien” means any liens, claims, options, charges, pledges, security interests, voting agreements, trusts, encumbrances,
rights or restrictions of any nature. 
 “Material Adverse Effect” means any change or effect that is
materially adverse to the properties, assets, business, condition (financial or otherwise), prospects or results of operations of the Company and its Subsidiaries, taken as a whole. 

“Permits” means any franchises, authorizations, approvals, orders, consents, licenses, certificates, permits,
registrations, qualifications or other rights and privileges. 
 “Person” means any individual, corporation,
associated, partnership, limited liability company, joint venture, estate, trust or any other entity or organization or any government or any agency or political subdivision thereof, including, without limitation, any partner, officer, director,
member or employee of such Person and any venture capital fund now or hereafter existing which is controlled by or under common control with one or more general partners of such person and, with respect to a trust, any beneficiary of such trust.

 “Registration Rights Agreement” means the Eighth Amended and Restated Registration Rights Agreement in the
form of Exhibit D hereto, dated as of March 6, 2008 and as amended, between Lighthouse Capital Partners IV, L.P., a Delaware limited partnership, Lighthouse Capital Partners V, L.P., a Delaware limited partnership, BayStar Capital III
Investment Fund, L.P., a Delaware limited partnership, Velocity Venture Funding, LLC, a Delaware limited liability company and the assignee of Velocity Financial Group, Inc., a Delaware corporation, Leader Lending, LLC, a Delaware limited liability
company, Leader Equity, LLC, a Delaware limited liability company, the Investor and the investors listed on Exhibit A thereto, the Series 1 Holders (as defined therein) and the MBI Group Holders (as defined therein), as amended by that
certain Omnibus Amendment, Admission, Consent and Waiver Agreement dated as of about there date hereof. 

  
 35 

 “Securities Act” means the Securities Act of 1933, as amended and the rules
and regulations promulgated thereunder. 
 “Series A Agreement” means that certain Series A Preferred Stock
Purchase Agreement by and between the Company, the Investors listed on Exhibit A thereto and the Founder dated as of July 10, 2001. 
 “Series A Preferred Stock” means shares of the Company’s Series A Convertible Participating Preferred Stock, $0.001 par value per share. 

“Series B Agreement” means that certain Series B Preferred Stock Purchase Agreement, as amended, by and between the
Company, the Investors listed on Exhibit A thereto and the Founder dated as of July 19, 2002. 
 “Series B
Preferred Stock” means shares of the Company’s Series B Convertible Participating Preferred Stock, $0.001 par value per share. 
 “Series B Warrants” means (a) those certain warrants to purchase an aggregate of $150,000 of Series B Preferred Stock, dated as of April 30, 2002, issued to Sigma Partners 6,
L.P., Sigma Associates 6, L.P., Sigma Investors 6, L.P. and Shiprock LLC and (b) that certain warrant exercisable for 34,615 shares of Series B Preferred Stock dated as of December 12, 2002 and issued to Comerica Bank-California.

 “Series C Agreement” means that certain Series C Preferred Stock Purchase Agreement by and between the
Company, the Investors listed on Exhibit A thereto and the Founder dated as of September 12, 2003. 

“Series C Preferred Stock” means shares of the Company’s Series C Convertible Participating Preferred Stock, $0.001
par value per share. 
 “Series C Warrants” means those certain warrants exercisable for an aggregate of
352,940 shares of Series C Preferred Stock dated as of June 30, 2004, issued to Lighthouse Capital Partners IV, L.P. and Lighthouse Capital Partners V, L.P. 
 “Series D Purchase Agreements” means (i) that certain Series D Preferred Stock Purchase Agreement by and between the Company, the investors listed on Exhibit A thereto and the
Founder dated as of December 30, 2004, (ii) that certain Series D Preferred Stock Purchase Agreement by and between the Company, the investors listed on Exhibit A thereto and the Founder dated as of September 29, 2005 (the
“September 2005 Series D Agreement”), (iii) that certain Acknowledgement Agreement by and between the investors listed on Exhibit to the September 2005 Series D Agreement dated as of January 11, 2006 (the “January 2006
Series D Agreement”), (iv) that certain Series D Preferred Stock Admission and Amendment Agreement by and between the Company and the investors listed on Exhibit A thereto dated as of October 26, 2006, and (v) that Series
D Preferred Stock and Warrant Purchase Agreement by and between the Company and the investors listed on Exhibit A-1 thereto dated as of April 10, 2007 (the “April 2007 Series D Agreement”). 

  
 36 

 “Series D Preferred Stock” means shares of the Company’s Series D
Convertible Participating Preferred Stock, $0.001 par value per share. 
 “Series D Warrants” means those
certain warrants exercisable for an aggregate of 1,885,422 shares of Series D Preferred Stock issued to Lighthouse Capital Partners IV, L.P., Lighthouse Capital Partners V, L.P., and the investors listed on Exhibits A to each of the September
2005 Series D Agreement, the January 2006 Series D Agreement and the April 2007 Series D Agreement. 
 “Series E
Purchase Agreements” means (i) that certain Series E Preferred Stock Purchase Agreement by and between the Company, the investors listed on Exhibit A thereto and the Founder dated as of May 4, 2007 and (ii) that
certain Series E Preferred Stock and Warrant Purchase Agreement by and between the Company, the investors listed on Exhibit A thereto and the Founder dated as of August 15, 2007 (the “August 2007 Series E Agreement”).

 “Series E Warrants” means those certain warrants exercisable for an aggregate of 312,567 shares of Series E
Preferred Stock issued to the investors listed on Exhibit A to the August 2007 Series E Agreement. 
 “Series 1
Preferred Stock” means shares of the Company’s Series 1 Convertible Preferred Stock, $0.001 par value per share. 

“Stockholders Agreement” means the Fifth Amended and Restated Stockholders Agreement in the form of Exhibit E
hereto, dated as of March 6, 2008, as amended, executed by and among the Company, the investors listed on Exhibit A thereto and certain holders of Common Stock of the Company, as amended by that certain Omnibus Amendment, Admission,
Consent and Waiver Agreement dated as of about there date hereof. 
 “Subsidiary” means any corporation more
than 50% of the outstanding voting securities of which, or any partnership, joint venture or other entity more than 50% of the total equity interest of which, is directly or indirectly owned by the Company or any other entity otherwise controlled by
or under common control with the Company. 
 “Taxes” means any federal, state, local, foreign or other taxes,
including without limitation income taxes, estimated taxes, excise taxes, sales taxes, use taxes, gross receipts taxes, franchise taxes, employment and payroll related taxes, withholding taxes, stamp taxes, transfer taxes and property taxes, whether
or not measured in whole or in part by net income. 
 SECTION 8 GENERAL 

8.1 Amendments, Waivers and Consents. For the purposes of this Agreement and all agreements executed pursuant hereto, no course of
dealing between or among any of the parties hereto and no delay on the part of any party hereto in exercising any rights hereunder or thereunder shall operate as a waiver of the rights hereof and thereof. No provision hereof may be waived otherwise
than by a written instrument signed by the party or parties so waiving such covenant or other provision. No amendment to this Agreement may be made without the written consent of the Company and the Investor. The Company agrees to pay the reasonable
fees and 

  
 37 

 
out of pocket expenses of the Investor’s counsel in connection with the waiver or amendment of any provision of this Agreement and any agreement executed pursuant hereto. 

8.2 Legend on Securities. The Company and the Investor acknowledge and agree that the following legend (or one substantially
similar thereto) shall be typed on each certificate evidencing any of the Series F Preferred Stock issued hereunder held at any time by an Investor: 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES OR BLUE SKY LAWS AND MAY NOT BE OFFERED, SOLD,
TRANSFERRED, HYPOTHECATED OR OTHERWISE ASSIGNED EXCEPT (1) PURSUANT TO A REGISTRATION STATEMENT WITH RESPECT TO SUCH SECURITIES WHICH IS EFFECTIVE UNDER THE ACT OR (2) PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE ACT
RELATING TO THE DISPOSITION OF SECURITIES AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES AND BLUE SKY LAWS. 
 8.3
Governing Law. This Agreement shall be deemed to be a contract made under, and shall be construed in accordance with, the laws of the State of Delaware, without giving effect to conflict of laws principles thereof. 

8.4 Section Headings and Gender. The descriptive headings in this Agreement have been inserted for convenience only and shall not
be deemed to limit or otherwise affect the construction of any provision thereof or hereof. The use in this Agreement of the masculine pronoun in reference to a party hereto shall be deemed to include the feminine or neuter, and vice versa, as the
context may require. 
 8.5 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall
constitute but one and the same instrument. One or more counterparts of this Agreement may be delivered via telecopier, with the intention that they shall have the same effect as an original counterpart hereof. 

8.6 Notices and Demands. Any notice or demand which is required or provided to be given under this Agreement shall be deemed to
have been sufficiently given or served and received for all purposes when delivered by hand, telecopy, telex or other method of facsimile, or five (5) days after being sent by certified or registered mail, postage and charges prepaid, return
receipt requested, or two (2) days after being sent by overnight delivery providing receipt of delivery, to: 
 (a) if to
the Company, 200 Crossing Boulevard, Framingham, MA 01702, Attn: Mark A. Shirman, or at such other address designated by the Company to the Investor in writing with a copy to Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP,
850 Winter Street, Waltham, MA 02451, Attn: Marc. F. Dupré; 
 (b) if to the Investor, to the following (or at such other
address or addresses as may have been furnished by giving five days advance written notice to all other parties): 

  
 38 

 Citrix Systems, Inc. 

851 West Cypress Creek Road 
 Fort Lauderdale, Florida 33309 

Attention:        General Counsel 

Facsimile:        (954) 267-2862 

with a copy (which shall not constitute notice) to: 
 Bingham McCutchen LLP 
 One Federal Street 

Boston, MA 02110 
 Attention:        Steven C. Browne 

                       
  William S. Perkins 
 Facsimile:        (617) 951-8736 

with an additional copy (which shall not constitute notice) to: 

Citrix Systems, Inc. 
 14 Crosby Dr. 
 Bedford, MA 01730 

Attention:        Associate General Counsel 

Facsimile:        (781) 301-0050 

8.7 Dispute Resolution. 
 (a) All disputes, claims, or controversies arising out of or relating to this Agreement or any other agreement executed and delivered pursuant to this Agreement or the negotiation, validity or performance
hereof and thereof or the transactions contemplated hereby and thereby that are not resolved by mutual agreement shall be resolved solely and exclusively by binding arbitration to be conducted before the American Arbitration Association
(“AAA”). If AAA ceases operations, then the parties shall select a comparable organization that provides qualified arbitration services. The arbitration shall be held in Boston, Massachusetts before a single arbitrator and shall be
conducted in accordance with the rules and regulations promulgated by AAA unless specifically modified herein. 
 The parties
covenant and agree that the arbitration hearing shall commence within ninety (90) days of the date on which a written demand for arbitration is filed by any party hereto. In connection with the arbitration proceeding, the arbitrator shall have
the power to order the production of documents by each party and any third-party witnesses. In addition, each party may take up to three depositions as of right, and the arbitrator may in his or her discretion allow additional depositions upon good
cause shown by the moving party. However, the arbitrator shall not have the power to order the answering of interrogatories or the response to requests for admission. In connection with any arbitration, each party shall provide to the other, no
later than seven (7) business days before the date of the arbitration hearing, the identity of all persons that may testify at the arbitration and a copy of all documents that may be introduced at the arbitration hearing or considered or used
by a party’s witness or expert. The arbitrator’s decision and award shall be made and delivered within three (3) months of the selection of the arbitrator. The arbitrator’s decision shall set forth a reasoned basis for any
finding of liability or award of damages. The arbitrator shall not have power to award damages in excess of actual 

  
 39 

 
compensatory damages and shall not multiply actual damages or award punitive damages or any other damages that are specifically excluded under this Agreement, and each party hereby irrevocably
waives any claim to such damages. 
 The parties covenant and agree that they will participate in the arbitration in good faith
and that they will share equally its costs, except as otherwise provided herein. The arbitrator may in his or her discretion assess costs and expenses (including the reasonable legal fees and expenses of the prevailing party whether claimant or
respondent) against any party to a proceeding. Any party failing or refusing to comply with an order of the arbitrators shall be liable for costs and expenses, including attorneys’ fees, incurred by the other party in enforcing the award.
Nothing in this Section 8.7 shall prohibit any party from proceeding in court without prior arbitration for the limited purpose of seeking a temporary or permanent injunction to avoid immediate and irreparable harm. The provisions of this
Section 8.7 shall be enforceable in any court of competent jurisdiction. 
 Unless otherwise ordered, the parties shall
bear their own attorneys’ fees, costs and expenses in connection with the arbitration. The parties will share equally in the fees and expenses charged by AAA. 
 (b) Each of the parties hereto irrevocably and unconditionally consents to the exclusive use of AAA to resolve all disputes, claims or controversies arising out of or relating to this Agreement or any
other agreement executed and delivered pursuant to this Agreement or the negotiation, validity or performance hereof and thereof or the transactions contemplated hereby and thereby and further consents to the jurisdiction of the courts of the
Massachusetts for the purposes of enforcing the arbitration provisions of Section 8.7(a) of this Agreement. Each party further irrevocably waives any objection to proceeding before AAA based upon lack of personal jurisdiction or to the laying
of venue and further irrevocably and unconditionally waives and agrees not to make a claim in any court that arbitration before AAA has been brought in an inconvenient forum. Each of the parties hereto hereby consents to service of process by
registered mail at the address to which notices are to be given. Each of the parties hereto agrees that its or his submission to jurisdiction and its or his consent to service of process by mail is made for the express benefit of the other parties
hereto. 
 (c) Remedies; Severability. Notwithstanding Section 8.7, it is specifically understood and agreed that
any breach of the provisions of this Agreement by any Person subject hereto will result in irreparable injury to the other parties hereto, that the remedy at law alone will be an inadequate remedy for such breach, and that, in addition to any other
remedies which they may have, such other parties may enforce their respective rights by actions for specific performance (to the extent permitted by law). The Company may refuse to recognize any unauthorized transferee as one of its stockholders for
any purpose, including, without limitation, for purposes of dividend and voting rights, until the relevant party or parties have complied with all applicable provisions of this Agreement, the Stockholders Agreement and the Registration Rights
Agreement. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be deemed prohibited or invalid under such
applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, and such 

  
 40 

 
prohibition or invalidity shall not invalidate the remainder of such provision or the other provisions of this Agreement. 
 8.8 Assignment. Except as otherwise provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors and assigns, heirs, executors and administrators of the
parties hereto; provided that, the Company may not assign its rights or obligations hereunder to any party without the written consent of the Investor. Notwithstanding anything to the contrary contained herein or in any other agreement referred to
herein, an Investor may assign any of its rights under this Agreement to any Affiliate of such Investor. Without limiting the generality of the foregoing, all representations, covenants and agreements benefiting the Investor shall inure to the
benefit of any and all subsequent holders from time to time of the Series F Preferred Stock or Conversion Shares. 
 8.9
Expenses. Within five (5) days following the Closing, the Company shall pay the reasonable fees and expenses of Bingham McCutchen LLP, counsel for the Investor in connection with the transactions contemplated by this Agreement, in an
amount not to exceed, in the aggregate, $15,000. 

  
 41 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered by their proper and duly authorized representatives as of the day and year first above written. 
  

			
	COMPANY:
	
	GLASSHOUSE TECHNOLOGIES, INC.
		
	By: 	 	/s/ Mark A. Shirman
		 	 Name:    Mark A. Shirman
 Title:      President

  
 SIGNATURE
PAGE TO GLASSHOUSE TECHNOLOGIES, INC. 
 SERIES F PREFERRED STOCK PURCHASE AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered by their proper and duly authorized representatives as of the day and year first above written. 
  

			
	INVESTOR:
	
	CITRIX SYSTEMS, INC.
		
	By:	 	/s/
	Name:  	 	 
	Title:	 	 

  
 SIGNATURE
PAGE TO GLASSHOUSE TECHNOLOGIES, INC. 
 SERIES F PREFERRED STOCK PURCHASE AGREEMENT 

 Exhibit A 
 Schedule of Investors 
  

									
	 Investor Name and Address
	  	Number of
shares of Series F
Preferred Stock
Purchased	 	  	Price of Series F
Preferred Stock	 
	 Citrix Systems, Inc.

851 West Cypress Creek Road

Fort Lauderdale, Florida 33309

Attention:     General Counsel

Facsimile:     (954) 267-2862
	  	 	1,838,236	  	  	$	5,000,001.92	  
			
	 with a copy (which shall not constitute notice) to:

Bingham McCutchen LLP

One Federal Street

Boston, MA 02110
 Attention:     Steven C. Browne

                   
  William S. Perkins
 Facsimile:     (617) 951-8736
	  				  			
			
	 with an additional copy (which shall not constitute notice) to:

Citrix Systems, Inc.

14 Crosby Dr.
 Bedford, MA 01730

Attention:     Associate General Counsel

Facsimile:     (781) 301-0050
	  				  			

 Exhibit B 
 Ninth Amended and Restated Certificate of Incorporation, as amended 

 Exhibit C 
 Form of Opinion of Counsel to the Company 

 Exhibit D 
 Form of Eighth Amended and Restated Registration Rights Agreement 

 Exhibit E 
 Form of Fifth Amended and Restated Stockholders Agreement 

 Exhibit F 
 Form of Omnibus Amendment, Admission, Consent and Waiver Agreement 

 Exhibit G-1 
 Form of Employee Proprietary Information, Developments and Non-Competition Agreement 

 Exhibit G-2 
 Form of Employee Proprietary Information, Developments and Non-Competition AgreementEscrow Agreement

 EXHIBIT 10.1 
 EXECUTION COPY 
 ESCROW AGREEMENT 

UMB Bank, N.A. 
 1010 Grand
Blvd., 4th Floor 

Mail Stop: 1020409 
 Kansas City, MO 64106

  

	 	Re:	O’Donnell Strategic Industrial REIT, Inc.  

 Ladies and Gentlemen: 
 O’DONNELL STRATEGIC INDUSTRIAL REIT, INC., a Maryland
corporation (the “Company”), will issue in a public offering (the “Offering”) shares of its common stock (the “Stock”) pursuant to a Registration Statement on Form S-11 filed by the Company with the
Securities and Exchange Commission. SC Distributors, LLC a Delaware limited liability company (the “Dealer Manager”), has agreed to serve as dealer manager for the Offering pursuant to a dealer manager agreement by and among the
Company and the Dealer Manager (the “Dealer Manager Agreement”) and will offer the Stock through other registered broker-dealers that are members of FINRA (the “Participating Dealers”). 

The Company hereby appoints UMB Bank, N.A. (the “Escrow Agent”), as Escrow Agent for purposes of holding the proceeds
from the subscriptions for the Stock, on the terms and conditions set forth herein: 
 1. (a) Until such time as the Company has received
subscriptions for Stock resulting in gross subscription proceeds equal to the Required Capital (as defined below) and the funds in the Escrow Account are disbursed from the Escrow Account (as defined below) in accordance with paragraph 3(a) hereof,
persons subscribing to purchase Stock (“Subscribers”) will be instructed by the Dealer Manager or any Participating Dealers to remit the purchase price in the form of checks, drafts, wires, Automated Clearing House (ACH) or money
orders (hereinafter “instruments of payment”) payable to the order of “UMB Bank, N.A., as Escrow Agent for O’Donnell Strategic Industrial REIT, Inc.” or a recognizable contractor or abbreviation thereof”;
provided, however, that Subscribers which are residents of Pennsylvania (“Pennsylvania Subscribers”) and Subscribers which are residents of Tennessee (“Tennessee Subscribers”) shall continue to make checks payable
to the order of “UMB Bank, N.A., as Escrow Agent for O’Donnell Strategic Industrial REIT,” or a recognizable contractor or abbreviation thereof, until such time as the Company has received subscriptions for Stock resulting in gross
offering proceeds equal to or greater than the Pennsylvania Required Capital (as defined below) or the Tennessee Required Capital (as defined below), as applicable, and the subscription proceeds received from Pennsylvania Subscribers and Tennessee
Subscribers are disbursed from the Escrow Account in accordance with paragraph 3 hereof. Any instruments of payment made payable to a party other than the Escrow Agent (or after the Required Capital (as defined below) is received, made payable to a
party other than the party designated by the Dealer Manager) shall be returned to the Dealer Manager or the Participating Dealer who submitted the instrument of payment. 

 (b) Within one (1) business day after receipt of an instrument of payment (or as soon
as possible thereafter pursuant to the internal supervisory procedures of the Dealer Manager or the Participating Dealer, as applicable), the Dealer Manager, the Company or their respective agents, as applicable, shall remit to the Escrow Agent
(i) such instrument of payment, and (ii) each Subscriber’s name, address, number of shares of Stock purchased by such Subscriber and the subscription payment remitted by such Subscriber. All instruments of payment delivered to the
Escrow Agent pursuant hereto shall be deposited by the Escrow Agent within one (1) business day of receipt thereof into an interest-bearing deposit account entitled “Escrow Account for the Benefit of Subscribers for Common Shares of
O’Donnell Strategic Industrial REIT, Inc.,” or such similar designation as the Company and the Escrow Agent may agree (the “Escrow Account”). Instruments of payment received from Pennsylvania Subscribers (as identified as
such by the Company) and Tennessee Subscribers (as identified as such by the Company) shall be accounted for separately on the records of the Escrow Agent. The Company shall, and shall cause its agents to, cooperate with the Escrow Agent in
separately accounting for subscription proceeds received from Pennsylvania Subscribers and Tennessee Subscribers in the Escrow Account and the Escrow Agent shall be entitled to rely upon information provided by the Company or its agents in this
regard. 
 2. The Escrow Agent agrees to promptly process for collection the instruments of payment upon deposit into the Escrow Account.
Deposits shall be held in the Escrow Account until such funds are disbursed in accordance with paragraph 3 hereof. Prior to disbursement of the funds deposited in the Escrow Account such funds shall not be subject to claims by creditors of the
Company, the Dealer Manager, any Participating Dealer or any of their respective affiliates. If any of the instruments of payment are returned to the Escrow Agent for nonpayment prior to receipt of the Required Capital or, in connection with
subscriptions received from Pennsylvania Subscribers or Tennessee Subscribers, the Pennsylvania Required Capital or the Tennessee Required Capital, as applicable, the Escrow Agent shall promptly notify the Dealer Manager and the Company in writing
via mail, email or facsimile of such nonpayment, and is authorized to debit the Escrow Account in the amount of such returned payment. 
 3. (a)
Subject to the provisions of paragraph 3 below, if at any time prior to the close of business on the fourth business day following the date that is the one year anniversary of the commencement of the Offering (such date the “Expiration
Date”), the funds received by the Escrow Agent that have cleared normal banking channels and are in the form of cash (“Collected Funds”) in the Escrow Account are equal to or greater than $2,000,000, exclusive of
(i) any subscription proceeds received from the Company’s executive officers and directors, the Company’s advisor (“Advisor”) and any of the Company’s or the Advisor’s affiliates or any other Subscribers
which the Company has notified the Escrow Agent are affiliated with the Company or the Advisor, (ii) any subscription proceeds received from Pennsylvania Subscribers and (iii) any subscription proceeds received from Tennessee Subscribers
(the “Required Capital”), the Escrow Agent shall promptly notify the Company and instruct the Dealer Manager, or its agent, to deliver an executed IRS Form W-9 for each Subscriber (other than any Pennsylvania Subscriber or Tennessee
Subscriber). Thereafter, upon receiving written instruction from the Company, the Escrow Agent shall (i) disburse to the Company, by check or wire transfer, the Collected Funds in the Escrow Account representing the principal amount of the
gross subscription payments from Subscribers received by the Escrow Agent (excluding any such funds received from Pennsylvania Subscribers and Tennessee Subscribers), and (ii) within five business days after the first business day of the
succeeding month, disburse to such Subscribers (other than any Pennsylvania Subscribers and Tennessee Subscribers), or the Company, as applicable, any interest thereon pursuant to the provisions of paragraph 3(h). After such time, (i) the
Escrow Account shall remain open and the Company shall continue to cause subscriptions for Stock that are received from Pennsylvania Subscribers and Tennessee Subscribers to be deposited therein until the Company informs the Escrow Agent in writing
to close the Escrow Account, and (ii) any subscription documents and instruments of payment received by the Escrow Agent from Subscribers other than Pennsylvania Subscribers and Tennessee

  
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Subscribers shall be forwarded directly to the Company. After the satisfaction of the aforementioned provisions of this paragraph 3(a), in the event the Company receives subscriptions made
payable to the Escrow Agent (other than subscriptions that are received from Pennsylvania Subscribers and Tennessee Subscribers), subscription proceeds may continue to be received in the Escrow Account generally, but to the extent such proceeds
shall not be subject to escrow due to the satisfaction of the aforementioned provisions of this paragraph 3(a), such proceeds are not subject to this Escrow Agreement and at the instruction of the Company to the Escrow Agent shall be transferred
from the Escrow Account or deposited directly into, as the case may be, a commercial deposit account in the name of the Company with the Escrow Agent (the “Deposit Account”) that has been previously established by the Company,
unless otherwise directed by the Company.
 (b) Notwithstanding any release of funds from the Escrow Account pursuant to
paragraph 3(a), the Company, the Dealer Manager and Participating Dealers shall continue to forward instruments of payment received from Pennsylvania Subscribers for deposit into the Escrow Account until such time as the Company notifies the Escrow
Agent in writing that the aggregate subscriptions for Stock in the Offering (including amounts in the Escrow Account previously disbursed pursuant to the terms hereof and the amounts then held in the Escrow Account) from all jurisdictions equal or
exceed $50,000,000, exclusive of (i) any subscription proceeds received from the Company’s executive officers and directors, the Advisor and any of the Company’s or Advisor’s affiliates or any other Subscribers which the Company
has notified the Escrow Agent are affiliated with the Company or Advisor (the “Pennsylvania Required Capital”), subject to the provisions of paragraphs 3(c)-3(e). Within five days after receipt by the Escrow Agent of such notice,
the Escrow Agent shall instruct the Dealer Manager, or its agent, to deliver an executed IRS Form W-9 for each Pennsylvania Subscriber and shall (i) disburse to the Company, by check or wire transfer, the Collected Funds then held in the Escrow
Account representing the principal amount of the gross subscription payments from Pennsylvania Subscribers received by the Escrow Agent, and (ii) within five business days after the first business day of the succeeding month, disburse to such
Pennsylvania Subscribers or the Company, as applicable, any interest thereon pursuant to the provisions of paragraph 3(h). Following such disbursements, any instruments of payment received by the Escrow Agent from Pennsylvania Subscribers shall
not be subject to this Escrow Agreement and shall be deposited directly into the Escrow Account or the Deposit Account pursuant to paragraph 3(a) above or forwarded directly to the Company as instructed in writing by the Company. 

(c) If, as of the close of business on the fourth business day following the date that is the one year anniversary of the commencement of
the Offering (the “Expiration Date”), the Collected Funds in the Escrow Account do not equal or exceed the Required Capital, the Escrow Agent shall promptly notify the Company. Within ten days following the Company’s receipt of
such notice, the Escrow Agent shall promptly return directly to each Subscriber (including any Pennsylvania Subscribers and Tennessee Subscribers), (i) by check or wire transfer, the Collected Funds deposited in the Escrow Account on behalf of
such Subscriber (unless earlier disbursed in accordance with paragraph 3(d)), or (ii) the instruments of payment delivered to the Escrow Agent with respect to such Subscriber’s subscription if such instrument of payment has not been
processed for collection prior to such time, in either case, together with any interest income thereon, which interest shall be paid within five business days after the first business day of the succeeding month pursuant to the provisions of
paragraph 3(h). Notwithstanding the above, in the event the Escrow Agent has not received an executed IRS Form W-9 at such time for each Subscriber, the Escrow Agent shall remit an amount to the Subscribers in accordance with the provisions
hereof, withholding the applicable percentage for backup withholding required by the Internal Revenue Code, as then in effect, from any interest income on subscription proceeds (determined in accordance with paragraph 7) attributable to each
Subscriber for whom the Escrow Agent does not possess an executed IRS Form W-9. However, the Escrow Agent shall not be required to remit any payments until the Escrow Agent has collected funds represented by such payments. 

  
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 (d) Notwithstanding any other provision herein to the contrary, if, on the date that is 120
days after the date that the Company first accepts a subscription from a Pennsylvania Subscriber (the “Initial Escrow Period”), the Collected Funds in the Escrow Account and the instruments of payment not yet processed for
collection and dated not later than such date do not provide for total subscription proceeds that equal or exceed the Pennsylvania Required Capital, the Escrow Agent shall promptly so notify the Company, and thereafter the Company shall send to each
Pennsylvania Subscriber by certified mail within ten (10) calendar days after the end of the Initial Escrow Period a notification in the form of Exhibit A. If, pursuant to such notification, a Pennsylvania Subscriber requests the return
of its subscription funds within ten (10) calendar days after receipt of the notification (the “Request Period”), the Escrow Agent shall promptly refund directly to such Pennsylvania Subscriber the Collected Funds deposited in
the Escrow Account on behalf of such Pennsylvania Subscriber or shall return the instruments of payment delivered to the Escrow Agent with respect to such Pennsylvania Subscriber’s subscription but not yet processed for collection prior to such
time, to the address provided by the Dealer Manager or the Company or their respective agents to the Escrow Agent, which the Escrow Agent shall be entitled to rely upon, together with any interest income thereon, which interest shall be paid within
five business days after the first business day of the succeeding month pursuant to the provisions of paragraph 3(h). Notwithstanding the above, if the Escrow Agent has not received an executed IRS Form W-9 for such Pennsylvania Subscriber, the
Escrow Agent shall thereupon remit an amount to such Pennsylvania Subscriber in accordance with the provisions hereof, withholding the applicable percentage for backup withholding required by the Internal Revenue Code, as then in effect, from any
interest income earned on subscription proceeds (determined in accordance with paragraph 7) attributable to such Pennsylvania Subscriber. However, the Escrow Agent shall not be required to remit such payments until the Escrow Agent has collected
funds represented by such payments. 
 (e) (i) The Collected Funds of Pennsylvania Subscribers who do not request the return of
their subscription funds within the Request Period shall remain in the Escrow Account for successive 120-day escrow periods (each such successive period a “Successive Escrow Period”), each commencing automatically upon the
termination of the prior Successive Escrow Period, and the Company and Escrow Agent shall follow the notification and payment procedure set forth in paragraph 3(d) above with respect to the Initial Escrow Period for each Successive Escrow Period
until the occurrence of the earliest of (a) the termination of the Offering, (b) the receipt and acceptance by the Company of subscriptions for Stock equal to or greater than the Pennsylvania Required Capital and the disbursement of the
Collected Funds in the Escrow Account on the terms specified herein, or (c) all subscription funds from Pennsylvania Subscribers held in the Escrow Account having been returned to the Pennsylvania Subscribers in accordance with the provisions
hereof. 
 (ii) If the Company has not received total subscriptions equal to the Pennsylvania Required Capital within 365 days
after the Company receives subscriptions equal to the Required Capital pursuant to paragraph 3(a), the Escrow Agent shall promptly return directly to each Pennsylvania Subscriber, (a) by check or wire transfer, the Collected Funds deposited in
the Escrow Account on behalf of such Pennsylvania Subscriber, or (b) the instruments of payment delivered to the Escrow Agent with respect to such Pennsylvania Subscriber’s subscription if such instrument of payment has not been processed
for collection prior to such time, in either case, together with any interest income thereon, which interest shall be paid within five business days after the first business day of the succeeding month pursuant to the provisions of paragraph 3(h).

 (f) (i) Notwithstanding any release of funds from the Escrow Account pursuant to paragraph 3(a), the Company, the Dealer
Manager and soliciting dealers shall continue to forward instruments of payment received from Tennessee Subscribers for deposit into the Escrow Account to the Escrow Agent until such time as the Company notifies the Escrow Agent in writing that the
aggregate subscriptions for Stock in the Offering (including amounts in the Escrow Account previously disbursed 

  
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pursuant to the terms hereof and the amounts then held in the Escrow Account) from all jurisdictions equal or exceed $20,000,000, exclusive of any subscription proceeds received from the
Company’s executive officers and directors, the Advisor and any of the Company’s or Advisor’s affiliates or any other Subscribers which the Company has notified the Escrow Agent are affiliated with the Company or Advisor (the
“Tennessee Required Capital”). Within five (5) days after receipt by the Escrow Agent of such notice, the Escrow Agent shall instruct the Dealer Manager, or its agent, to deliver an executed IRS Form W-9 for each Tennessee
Subscriber and shall (i) disburse to the Company, by check or wire transfer, the Collected Funds then held in the Escrow Account representing the principal amount of the gross subscription payments from Tennessee Subscribers received by the
Escrow Agent, and (ii) within five business days after the first business day of the succeeding month, disburse to such Tennessee Subscribers or the Company, as applicable, any interest thereon pursuant to the provisions of paragraph 3(h).
Following such disbursements, any instruments of payment received by the Escrow Agent from Tennessee Subscribers shall not be subject to this Escrow Agreement and shall be deposited directly into the Escrow Account or the Deposit Account pursuant to
paragraph 3(a) above or forwarded directly to the Company as instructed in writing by the Company. 
 (ii) If the Company has
not received total subscriptions equal to the Tennessee Required Capital within 365 days after the Company receives subscriptions equal to the Required Capital pursuant to paragraph 3(a), the Escrow Agent shall promptly return directly to
each Tennessee Subscriber, (a) by check or wire transfer, the Collected Funds deposited in the Escrow Account on behalf of such Tennessee Subscriber, or (b) the instruments of payment delivered to the Escrow Agent with respect to such
Tennessee Subscriber’s subscription if such instrument of payment has not been processed for collection prior to such time, in either case, together with any interest income thereon, which interest shall be paid within five business days after
the first business day of the succeeding month pursuant to the provisions of paragraph 3(h). 
 (g) If the Company rejects
any subscription for which the Escrow Agent has collected funds, the Escrow Agent shall, upon the written request of the Company, promptly issue a refund to the rejected Subscriber at the address provided by the Dealer Manager or the Company, which
the Escrow Agent shall be entitled to rely upon. If the Company rejects any subscription for which the Escrow Agent has not yet collected funds but has submitted the Subscriber’s check for collection, the Escrow Agent shall promptly return the
funds in the amount of the Subscriber’s check to the rejected Subscriber, at the address provided by the Dealer Manager or the Company or their respective agents, which the Escrow Agent shall be entitled to rely upon, after such funds have been
collected. If the Escrow Agent has not yet submitted a rejected Subscriber’s check for collection, the Escrow Agent shall promptly remit the Subscriber’s check directly to the Subscriber. 

(h) At any time pursuant to the provisions of this paragraph 3 interest income earned on Collected Funds deposited in the Escrow Account
(“Escrow Income”) is to be paid to a Subscriber, the Escrow Agent shall promptly provide directly to such Subscriber the amount of Escrow Income payable to such Subscriber; provided that the Escrow Agent is in possession of such
Subscriber’s executed IRS Form W-9. In the event an executed IRS Form W-9 is not received for each Subscriber the Escrow Agent shall remit an amount to the Subscribers in accordance with the provisions hereof, withholding the applicable
percentage for backup withholding required by the Internal Revenue Code, as then in effect, from any Escrow Income attributable to those Subscribers for whom the Escrow Agent does not possess an executed IRS Form W-9. The forgoing notwithstanding,
Escrow Income, if any, earned on accepted subscription proceeds will be payable to a Subscriber only if the Subscriber’s funds have been held in escrow by the Escrow Agent for at least 35 days, and interest, if any, earned on accepted
subscription proceeds held less than 35 days will be payable to the Company. Escrow Income shall be remitted to Subscribers at the address provided by the Dealer Manager or the Company to the Escrow Agent, which the Escrow Agent shall be entitled to
rely upon, and without any deductions for escrow expenses. 

  
 -5-

 (i) Notwithstanding any provision herein to the contrary, no Collected Funds or interest
thereon shall be released from the Escrow Account to the Company pursuant to this paragraph 3 if, pursuant to Section 7.5 of the Dealer Manager Agreement, the Dealer Manager has provided written notice to the Escrow Agent and the Company of the
Company’s failure to perform its obligations under Section 7 of the Dealer Manager Agreement (such notice a “Company Default Notice”). Following the Escrow Agent’s receipt of a Company Default Notice, no Collected
Funds or interest or earnings thereon shall be released or disbursed to the Company pursuant to this paragraph 3 unless and until the Escrow Agent shall have received joint written instructions from the Dealer Manager and the Company authorizing
such release. Notwithstanding the foregoing, no Company Default Notice shall have the effect of prohibiting or delaying the release or disbursement of Collected Funds to Subscribers pursuant to this paragraph 3. 

4. The Escrow Agent shall provide to the Company monthly statements (or more frequently as reasonably requested by the Company, which includes, without
limitation, if such amounts are not available to the Company at least daily via UMB’s Web Exchange) on the account balance in the Escrow Account, and the activity in the account since the last report. The Escrow Agent will provide access to its
Web Exchange program to allow the Company to view account balances for the Escrow Account at any time. 
 5. Prior to the disbursement of funds
deposited in the Escrow Account in accordance with the provisions of paragraph 3 hereof, the Escrow Agent shall invest all of the funds deposited as well as earnings and interest derived therefrom in a bank money-market account; provided, however,
that if the costs to the Company for the making of such investment are reasonably expected to exceed the anticipated interest earnings from such investment, the funds and interest thereon shall remain in the Escrow Account until the balance in the
Escrow Account reaches the minimum amount necessary for the anticipated interest earnings from such investment to exceed the costs to the Company for the making of such investment, as determined by the Company based upon applicable interest rates.

 The following securities are not permissible investments: 

(a) money market funds; 
 (b) corporate equity or debt securities; 
 (c) repurchase agreements; 

(d) bankers’ acceptances; 
 (e) commercial paper; and 
 (f) municipal securities. 

It is hereby expressly agreed and stipulated by the parties hereto that the Escrow Agent shall not be required to exercise any discretion hereunder and
shall have no investment or management responsibility and, accordingly, shall have no duty to, or liability for its failure to, provide investment recommendations or investment advice to the parties hereto. It is the intention of the parties hereto
that the Escrow Agent shall never be required to use, advance or risk its own funds or otherwise incur financial liability in the performance of any of its duties or the exercise of any of its rights and powers hereunder. 

6. The Escrow Agent is entitled to rely upon written instructions received from the Company or the Dealer Manager or their respective agents, unless the
Escrow Agent has actual knowledge that such instructions are not valid or genuine; provided that, if in the Escrow Agent’s opinion, any instructions from the Company or the Dealer Manager or their respective agents are unclear, the Escrow Agent
may request clarification from the Company or the Dealer Manager or their respective agents, as applicable, prior to taking any action, and if such instructions continue to be unclear, the Escrow Agent may rely

  
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upon written instructions from the Company’s legal counsel in distributing or continuing to hold any funds. However, the Escrow Agent shall not be required to disburse any funds attributable
to instruments of payment that have not been processed for collection, until such funds are collected and then shall disburse such funds in compliance with the disbursement instructions from the Company or the Dealer Manager or their respective
agents. 
 7. If the Escrow Agent remits Escrow Income pursuant to this Agreement, the Escrow Agent shall be responsible for any necessary
federal tax reporting associated with such income; provided, however, that the Escrow Agent shall not be responsible for any other tax reporting associated with this Agreement. The Escrow Agent shall remit all such Escrow Income in accordance with
paragraph 3. 
 8. The Escrow Agent shall receive compensation from the Company as set forth in Exhibit C attached hereto, which such
Exhibit C is hereby incorporated by reference. 
 9. In performing any of its duties hereunder, the Escrow Agent shall not incur any
liability to anyone for any damages, losses, or expenses, except for willful misconduct, breach of trust, or gross negligence. Accordingly, the Escrow Agent shall not incur any such liability with respect to any action taken or omitted (a) in
good faith upon advice of the Escrow Agent’s counsel given with respect to any questions relating to the Escrow Agent duties and responsibilities under this Agreement, or (b) in reliance upon any instrument, including any written
instrument or instruction provided for in this Agreement, not only as to its due execution and validity and effectiveness of its provisions but also as to the truth and accuracy of information contained therein, which the Escrow Agent shall in good
faith believe to be genuine, to have been signed or presented by a proper person or persons and to conform to the provisions of this Agreement. 

10. The Company hereby agrees to indemnify and hold the Escrow Agent harmless against any and all losses, claims, damages, liabilities, and expenses,
including reasonable attorneys’ fees and disbursements, that may be imposed on or incurred by the Escrow Agent in connection with acceptance of appointment as the Escrow Agent hereunder, or the performance of the duties hereunder, including any
litigation arising from this Agreement or involving the subject matter hereof, except where such losses, claims, damages, liabilities, and expenses result from the Escrow Agent’s willful misconduct, breach of trust, or gross negligence.

 11. In the event of a dispute between the parties hereto sufficient in the Escrow Agent’s discretion to justify doing so, the Escrow
Agent shall be entitled to tender into the registry or custody of any court of competent jurisdiction all money or property in its hands under this Agreement, together with such legal pleadings as deemed appropriate, and thereupon be discharged from
all further duties and liabilities under this Agreement. In the event of any uncertainty as to the duties hereunder, the Escrow Agent may refuse to act under the provisions of this Agreement pending order of a court of competent jurisdiction and
shall have no liability to the Company or to any other person as a result of such action. Any such legal action may be brought in such court, as the Escrow Agent shall determine to have jurisdiction thereof. The filing of any such legal proceedings
shall not deprive the Escrow Agent of its compensation earned prior to such filing. 
 12. All communications and notices required or permitted
by this Agreement shall be in writing and shall be deemed to have been given when delivered personally or by messenger or by overnight delivery service or when received via telecopy or other electronic transmission, in all cases addressed to the
person for whom it is intended at such person’s address set forth below or to such other address as a party shall have designated by notice in writing to the other party in the manner provided by this paragraph: 

 

	 	(a)	if to the Company: 

  
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 O’Donnell Strategic Industrial REIT, Inc. 

3 San Joaquin Plaza 
 Suite 160 
 Newport Beach, California 92660 

Attn: Douglas D. O’Donnell 
  

	 	(b)	if to the Dealer Manager: 

 SC
Distributors, LLC 
 610 Newport Center Drive, Suite 350 
 Newport Beach, CA 92660 
 Attention: Investor Services 

 

	 	(c)	if to the Escrow Agent: 

 UMB
Bank, N.A. 
 Corporate Trust & Escrow Services 

1010 Grand Blvd., 4th Floor 
 Mail Stop: 1020409 
 Kansas City, MO 64106 

Attention: Lara Stevens 
 Each
party hereto may, from time to time, change the address to which notices to it are to be delivered or mailed hereunder by notice in accordance herewith to the other parties. 
 13. This Agreement shall be governed by the laws of the State of California as to both interpretation and performance without regard to the conflict of laws rules thereof. 

14. The provisions of this Agreement shall be binding upon the legal representatives, successors, and assigns of the parties hereto. 

15. The Company and the Dealer Manager hereby acknowledge that UMB Bank, N.A. is serving as Escrow Agent only for the limited purposes herein set forth,
and hereby agree that they will not represent or imply that, by serving as Escrow Agent hereunder or otherwise, have investigated the desirability or advisability of investment in the Company or have approved, endorsed, or passed upon the merits of
the Stock or the Company, nor shall they use the name of the Escrow Agent in any manner whatsoever in connection with the offer or sale of the Stock other than by acknowledgment that is has agreed to serve as Escrow Agent for the limited purposes
herein set forth. 
 16. This Agreement and any amendment hereto may be executed by the parties hereto in one or more counterparts, each of
which shall be deemed to be an original. 
 17. In the event that the Dealer Manager receives instruments of payment after the Required Capital
or the Pennsylvania Required Capital has been received and the proceeds of the Escrow Account have been distributed to the Company, the Escrow Agent is hereby authorized to deposit such instruments of payment within one (1) business day to any
deposit account as directed by the Company. The application of said funds into a deposit account or the forwarding of such funds directly to the Company, in either case as directed by the Company, shall be a full acquittance to the Escrow Agent, who
shall not be responsible for the application of said funds thereafter. 

  
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 18. The Escrow Agent shall be bound only by the terms of this Escrow Agreement and shall not be bound by or
incur any liability with respect to any other agreements or understanding between any other parties, whether or not the Escrow Agent has knowledge of any such agreements or understandings. 

 

	19.	the indemnification provisions set forth in paragraph 10 herein shall survive the termination of this Agreement. 

20. In the event that any part of this Agreement is declared by any court or other judicial or administrative body to be null, void, or unenforceable,
said provision shall survive to the extent it is not so declared, and all of the other provisions of this Agreement shall remain in full force and effect. 
 21. Unless otherwise provided in this Agreement, final termination of this Escrow Agreement shall occur on the date that (a) all funds held in the Escrow Account are distributed either to the Company
or to Subscribers and the Company has informed the Escrow Agent in writing to close the Escrow Account or (b) all funds held in the Escrow Account are distributed to a successor escrow agent upon written instructions from the Company.

 22. Neither the Escrow Agent, nor its agents, shall have responsibility for accepting, rejecting, or approving subscriptions. The Escrow
Agent, or its agent, shall complete an OFAC search, in compliance with its policy and procedures, of each subscription check and shall inform the Company if a subscription check fails the OFAC search. The Dealer Manager shall provide a copy of each
subscription check in order that the Escrow Agent, or its agent, may perform such OFAC search. 
 23. This Agreement shall not be modified,
revoked, released, or terminated unless reduced to writing and signed by all parties hereto, subject to the following paragraph. If, at any time, any attempt is made to modify this Agreement in a manner that would increase the duties and
responsibilities of the Escrow Agent or to modify this Agreement in any manner which the Escrow Agent shall deem undesirable, or at any other time, the Escrow Agent may resign by providing written notice to the Company and until (a) the
acceptance by a successor escrow agent as shall be appointed by the Company; or (b) thirty (30) days after such written notice has been given, whichever occurs sooner, the Escrow Agent’s only remaining obligation shall be to perform
its duties hereunder in accordance with the terms of the Agreement. 
 24. The Escrow Agent may resign at any time from its obligations under
this Escrow Agreement by providing written notice to the Company. Such resignation shall be effective on the date specified in such notice, which shall be not less than thirty (30) days after such written notice has been given. The Escrow Agent
shall have no responsibility for the appointment of a successor escrow agent. 
 25. The Escrow Agent may be removed for cause by the Company by
written notice to the Escrow Agent effective on the date specified in such written notice. The removal of the Escrow Agent shall not deprive the Escrow Agent of its compensation earned prior to such removal. 

26. The Company shall provide to Escrow Agent any documentation and information reasonably requested by the Escrow Agent for the Escrow Agent to comply
with the USA Patriot Act of 2001, as amended from time to time. 
 [Signature page follows] 

  
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 Agreed to as of the 6th day of June, 2011. 

 

			
	O’DONNELL STRATEGIC INDUSTRIAL REIT, INC.
		
	 By:
	 	 /s/ Douglas D. O’Donnell

		 	 Douglas D. O’Donnell, Chief Executive Officer

	
	SC DISTRIBUTORS, LLC
		
	 By:
	 	 /s/ Patrick J. Miller

		 	 Patrick J. Miller, President

 The terms and conditions contained above are hereby accepted and agreed to by: 
 UMB Bank,
N.A., as Escrow Agent 
  

					
	By:	 	 /s/ Lara L. Stevens

	Name:	 	 Lara L. Stevens

	Title:	 	 Vice President

  
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 EXHIBIT A 
 [Form of Notice to Pennsylvania Subscribers] 
 You have tendered a subscription to purchase shares
of common stock of O’Donnell Strategic Industrial REIT, Inc. (the “Company”). Your subscription is currently being held in escrow. The guidelines of the Pennsylvania Securities Commission do not permit the Company to accept
subscriptions from Pennsylvania residents until an aggregate of $50,000,000 of gross offering proceeds have been received by the Company. The Pennsylvania guidelines provide that until this minimum amount of offering proceeds is received by the
Company, every 120 days during the offering period Pennsylvania Subscribers may request that their subscription be returned. 
 If you wish to
continue your subscription in escrow until the Pennsylvania minimum subscription amount is received, nothing further is required. 
 If you wish
to terminate your subscription for the Company’s common stock and have your subscription returned to you please so indicate by signing, dating and returning this notice to the Escrow Agent, UMB Bank, N.A. 

I hereby terminate my prior subscription to purchase shares of common stock of O’Donnell Strategic Industrial REIT, Inc. and request the return of
my subscription funds. I certify to O’Donnell Strategic Industrial REIT, Inc. that I am a resident of Pennsylvania. 
  

			
	Signature:	 	  

		
	Name:	 	  

	(please print)
		
	Date:	 	  

 Please send the subscription refund to: 

	
	  

	  

	  

	  

 EXHIBIT B 
 ESCROW FEES AND EXPENSES 
  

			
	 Acceptance Fee
	  	
	 Review escrow agreement, establish account
	  	$3,000
		
	 Annual Fees
	  	
	 Annual Escrow Agent
	  	$2,500
		
	 Transactional Fees
	  	
	 Outgoing Wire Transfer
	  	$15 each
	 Daily Recon File to Transfer Agent
	  	$2.50 per Business Day
	 Web Exchange Access
	  	$15 per month
	 IRS Tax Reporting
	  	$10 per 1099

 Fees specified are for the regular, routine
services contemplated by the Escrow Agreement, and any additional or extraordinary services, including, but not limited to disbursements involving a dispute or arbitration, or administration while a dispute, controversy or adverse claim is in
existence, will be charged based upon time required at the then standard hourly rate. In addition to the specified fees, all expenses related to the administration of the Escrow Agreement (other than normal overhead expenses of the regular staff)
such as, but not limited to, travel, postage, shipping, courier, telephone, facsimile, supplies, legal fees, accounting fees, etc., will be reimbursable. 
 Acceptance fee and first year Annual Escrow Agent fee will be payable at the initiation of the escrow. Thereafter, the Annual Escrow Agent fees will be billed in advance and Transactional fees will be
billed quarterly in arrears. Other fees and expenses will be billed as incurred.

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