Document:

Export-Import Bank First Loan Modification Agreement

 Exhibit 10.2 
 EXPORT-IMPORT BANK FIRST LOAN MODIFICATION AGREEMENT 
 This Export-Import
Bank First Modification Agreement (this “Loan Modification Agreement”) is entered into and effective as of March 15, 2011 (the “First Loan Modification Effective Date”), by and between SILICON VALLEY
BANK, a California corporation, with its principal place of business at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan production office located at 380 Interlocken Crescent, Suite 600, Broomfield, Colorado 80021
(“Bank”) and ATRICURE, INC., a Delaware corporation with its chief executive office located at 6217 Centre Park Drive, West Chester, Ohio 45069 (“Borrower”). 

1. DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS. Among other indebtedness and obligations which may be owing by Borrower to Bank, Borrower
is indebted to Bank pursuant to a loan arrangement dated as of September 13, 2010, evidenced by, among other documents, a certain Export-Import Bank Loan and Security Agreement, dated as of September 13, 2010, between Borrower and Bank,
(as amended, the “Existing Loan Agreement”). Capitalized terms used but not otherwise defined herein shall have the same meaning as in the Loan Agreement. 
 2. DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by the Collateral as described (i) in the Loan Agreement; (ii) in a certain Amended and Restated Loan and Security
Agreement, dated as of September 13, 2010 (as amended, the “Domestic Loan Agreement”); and (iii) in a certain Intellectual Property Security Agreement dated as of May 1, 2009 (the “IP Agreement”, and
together with any other collateral security granted to Bank, the “Security Documents”). 
 Hereinafter, the Security Documents,
together with the Existing Loan Agreement and all other documents evidencing or securing the Obligations shall be referred to as the “Existing Loan Documents”. 
 3. DESCRIPTION OF CHANGE IN TERMS. 
  

	 	A.	Modifications to Loan Agreement. 

  

	 	1	The Loan Agreement shall be amended by deleting the following text appearing as Section 2.3(a) thereof: 

“(a) Interest Rate; EXIM Advances. Subject to Section 2.3(b), the principal amount of EXIM Advances outstanding under
the Revolving Line shall accrue interest at a floating per annum rate based on Borrower’s Adjusted Quick Ratio (and the existence or non-existence of an Event of Default) as set forth below, which interest shall be payable monthly, in arrears,
in accordance with Section 2.3(f) below. 
  

			
	 Adjusted Quick Ratio as of the end of
a
 month and Event of Default status
	  	 Interest Rate

		
	Greater than or equal to 2.00:1.00, and no Event of Default has occurred and is continuing	  	The First Tier Rate
		
	Greater than or equal to 1.50:1.00, but less than 2.00:1.00, and no Event of Default has occurred and is continuing	  	The Second Tier Rate
		
	Less than 1.50:1.00, or an Event of Default has occurred and is continuing	  	The Regular Rate

 The rate in effect as of the Effective Date is the Second Tier Rate. Changes in the
interest rate based on the Borrower’s Adjusted Quick Ratio as provided above shall go into effect as of the first day of the month following the month in which Borrower’s financial statements are received by Bank. If, based on the Adjusted
Quick Ratio as shown in Borrower’s financial statements, there is to be an increase in the interest rate, the interest rate increase may be put into effect by Bank as of the first day of the month following the month in which Borrower’s
financial statements were due, even if the delivery of the financial statements is delayed. The Regular Rate shall go into effect immediately upon the occurrence and during the continuance of an Event of Default unless Bank otherwise elects from
time to time in its sole discretion to delay its effect or impose a smaller increase.” 
 and inserting in lieu thereof the
following: 
 “(a) Interest Rate; EXIM Advances. Subject to Section 2.3(b), the principal amount of EXIM
Advances outstanding under the Revolving Line shall accrue interest at a floating per annum rate based on Borrower’s Adjusted Quick Ratio (and the existence or non-existence of an Event of Default) as set forth below, which interest shall be
payable monthly, in arrears, in accordance with Section 2.3(f) below. 
  

			
	 Adjusted Quick Ratio as of the end of
a
 month and Event of Default status
	  	 Interest Rate

		
	Greater than or equal to 2.00:1.00, and no Event of Default has occurred and is continuing	  	The First Tier Rate
		
	Greater than or equal to 1.50:1.00, but less than 2.00:1.00, and no Event of Default has occurred and is continuing	  	The Second Tier Rate
		
	Less than 1.50:1.00, or an Event of Default has occurred and is continuing	  	The Regular Rate

 The rate in effect as of
the First Loan Modification Effective Date is the Second Tier Rate. Changes in the interest rate based on the Borrower’s Adjusted Quick Ratio as provided above shall go into effect as of the first day of the month following the month in which
Borrower’s financial statements are received by Bank. If, based on the Adjusted Quick Ratio as shown in Borrower’s financial statements, there is to be an increase in the interest rate, the interest rate increase may be put into effect by
Bank as of the first day of the month following the month in which Borrower’s financial statements were due, even if the delivery of the financial statements is delayed. The Regular Rate shall go into effect immediately upon the occurrence and
during the continuance of an Event of Default unless Bank otherwise elects from time to time in its sole discretion to delay its effect or impose a smaller increase.” 

 

	 	2	The Loan Agreement shall be amended by deleting the following definition from Section 13.1 thereof: 

“Revolving Line Maturity Date” is the earlier to occur of (i) the nullification, revocation or any other action,
condition or occurrence which causes the EXIM Guaranty to cease to be in full force and effect and (ii) April 30, 2012. 
 and inserting in lieu thereof the following: 
 “Revolving Line Maturity
Date” is the earlier to occur of (i) the nullification, revocation or any other action, condition or occurrence which causes the EXIM Guaranty to cease to be in full force and effect and (ii) April 30, 2014. 

 4. FEES. Borrower shall reimburse Bank for all legal fees and expenses incurred in connection with
this Loan Modification Agreement. 
 5. CONDITIONS PRECEDENT TO EFFECTIVENESS. Borrower hereby agrees that the following documents shall
be delivered to the Bank prior to the entering into and the effectiveness of this Loan Modification Agreement, each in form and substance satisfactory to the Bank (collectively, the “Conditions Precedent”): 

 

	 	a)	copies, certified by a duly authorized officer of Borrower, to be true and complete as of the date hereof, of each of (i) the governing documents of Borrower as in
effect on the date hereof (but only to the extent modified since last delivered to the Bank), (ii) the resolutions of Borrower authorizing the execution and delivery of this Loan Modification Agreement, the other documents executed in
connection herewith and Borrower’s performance of all of the transactions contemplated hereby (but only to the extent required since last delivered to Bank), and (iii) an incumbency certificate giving the name and bearing a specimen
signature of each individual who shall be so authorized on behalf of Borrower (but only to the extent any signatories have changed since such incumbency certificate was last delivered to Bank); 

 

	 	b)	a certificate of the from the Secretary of State for the applicable jurisdiction, as of a recent date as to the Borrower’s existence, good standing and foreign
qualification (as applicable); 

  

	 	c)	a legal opinion of counsel to the Borrower as to authority and enforceability of the Loan Modification Agreement and the other Loan Documents executed in connection
herewith; and 

  

	 	d)	such other documents as the Bank may reasonably request. 

 6. AUTHORIZATION TO FILE. Borrower hereby authorizes Bank to file UCC financing statements without notice to Borrower, with all appropriate jurisdictions, as Bank deems appropriate, in order to
further perfect or protect Bank’s interest in the Collateral, including a notice that any disposition of the Collateral, by either the Borrower or any other Person, shall be deemed to violate the rights of the Bank under the Code. 

7. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever necessary to reflect the changes described above. 

8. RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and reaffirms all terms and conditions of all security or other collateral
granted to the Bank, and confirms that the indebtedness secured thereby includes, without limitation, the Obligations. 
 9. NO DEFENSES OF
BORROWER. Borrower hereby acknowledges and agrees that Borrower has no offsets, defenses, claims, or counterclaims against Bank with respect to the Obligations, or otherwise, and that if Borrower now has, or ever did have, any offsets, defenses,
claims, or counterclaims against Bank, whether known or unknown, at law or in equity, all of them are hereby expressly WAIVED and Borrower hereby RELEASES Bank from any liability thereunder. 
 10. CONTINUING VALIDITY. Borrower understands and agrees that in modifying the existing Obligations, Bank is relying upon Borrower’s representations, warranties, and agreements, as set forth
in the Existing Loan Documents. Except as expressly modified pursuant to this Loan Modification Agreement, the terms of the Existing Loan Documents remain unchanged and in full force and effect. Bank’s agreement to modifications to the existing
Obligations pursuant to this Loan Modification Agreement in no way shall obligate Bank to make any future modifications to the Obligations. Nothing in this Loan Modification Agreement shall constitute a satisfaction of the Obligations. It is the
intention of Bank and Borrower to retain as liable parties all makers of Existing Loan Documents, unless the party is expressly released by Bank in writing. No maker will be released by virtue of this Loan Modification Agreement. 

 11. RIGHT OF SET-OFF. In consideration of Bank’s agreement to enter into this Loan Modification
Agreement, Borrower hereby reaffirms and hereby grants to Bank, a lien, security interest and right of set off as security for all Obligations to Bank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and
property, now or hereafter in the possession, custody, safekeeping or control of Bank or any entity under the control of Silicon Valley Bank (including a Bank subsidiary) or in transit to any of them. At any time after the occurrence and during the
continuance of an Event of Default, without demand or notice, Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral
securing the loan. ANY AND ALL RIGHTS TO REQUIRE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER
PROPERTY OF BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 
 12. CONFIDENTIALITY. Without limiting
Section 12.10 of the Loan Agreement (which is and shall remain in full force and effect), Bank may use confidential information for the development of databases, reporting purposes, and market analysis, so long as such confidential information
is aggregated and anonymized prior to distribution unless otherwise expressly permitted by Borrower. The provisions of the immediately preceding sentence shall survive the termination of the Loan Agreement. 

JURISDICTION/VENUE. California law governs the Loan Documents, including, without limitation, this Loan Modification Agreement
without regard to principles of conflicts of law. Borrower and Bank each submit to the exclusive jurisdiction of the State and Federal courts in Santa Clara County, California; provided, however, that nothing in this Agreement shall be deemed to
operate to preclude Bank from bringing suit or taking other legal action in any other jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Bank. Borrower
expressly submits and consents in advance to such jurisdiction in any action or suit commenced in any such court, and Borrower hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non
conveniens and hereby consents to the granting of such legal or equitable relief as is deemed appropriate by such court. Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees
that service of such summons, complaints, and other process may be made by registered or certified mail addressed to Borrower at the address set forth in, or subsequently provided by Borrower in accordance with, Section 10 of the Loan Agreement
and that service so made shall be deemed completed upon the earlier to occur of Borrower’s actual receipt thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid. 

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF
ACTION ARISING OUT OF OR BASED UPON THIS LOAN MODIFICATION AGREEMENT, THE LOAN AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR
BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
 WITHOUT INTENDING IN ANY WAY TO LIMIT
THE PARTIES’ AGREEMENT TO WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY, if the above waiver of the right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature between them
arising at any time shall be decided by a reference to a private judge, mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of the Santa Clara County, California Superior Court) appointed in accordance with California
Code of Civil Procedure Section 638 (or pursuant to comparable provisions of federal law if the dispute falls within the exclusive jurisdiction of the federal courts), sitting without a jury, in Santa Clara County, California; and the parties
hereby submit to the jurisdiction of such court. The reference proceedings shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure §§ 638 through 645.1, inclusive. The private judge shall
have the power, among others, to grant provisional relief, including without limitation, entering temporary restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such proceedings shall be closed to the
public and confidential and all records relating thereto shall be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief, but a judge has not been appointed at that point pursuant to the judicial
reference procedures, then such party may apply to the Santa Clara 

 
County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the same manner as it would be before a court under the rules of evidence
applicable to judicial proceedings. The parties shall be entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery applicable to judicial proceedings. The private judge shall oversee
discovery and may enforce all discovery rules and orders applicable to judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private judge shall have the power to decide all issues in the
action or proceeding, whether of fact or of law, and shall report a statement of decision thereon pursuant to California Code of Civil Procedure § 644(a). Nothing in this paragraph shall limit the right of any party at any time to exercise
self-help remedies, foreclose against collateral, or obtain provisional remedies. The private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this paragraph. 

13. COUNTERSIGNATURE. This Loan Modification Agreement shall become effective only when it shall have been executed by Borrower and Bank.

 [The remainder of this page is intentionally left blank] 

 This Export-Import Bank First Modification Agreement is executed as of the First Loan
Modification Effective Date. 
  

									
	BORROWER:	 		 		 	BANK:
			
	ATRICURE, INC.	 		 	SILICON VALLEY BANK
					
	By:	 	 /s/ Julie A. Piton
	 		 	By:	 	 /s/ Adam Glick

	Name: Julie A. Piton	 		 	Name: Adam Glick
	Title: Vice President/Chief Financial Officer	 		 	Title: Relationship ManagerFirst Amendment to Lease

 Exhibit 10.12 
 LEASE AMENDMENT 
 EXERCISE and MODIFICATION
OF 2nd EXTENSION TERM and GRANT of 3rd 

and 4th OPTIONS TO EXTEND LEASE TERM 
 Dated October 6, 2008 
 Amendment to that certain AIR Standard
Industrial/Commercial Single-Tenant 
 Lease—Net dated May 19, 1999 between Griswold Industries as Lessor and

 Stone Boardwear dba Volcom as Lessee 
 RECITALS: 
  

	 	A.	 Lessor and Lessee are parties to that certain AIR Standard Industrial/Commercial Single-Tenant Lease—Net dated May 19, 1999 between Griswold
Industries as Lessor and Volcom, Inc. (successor in interest to Stone Boardwear, a California corporation, dba Volcom) as Lessee, including appurtenant Addendums titled as follows: Option to Extend dated February 26, 1999, Option to Extend
dated May 19, 1999, Lessor’s Responsibilities for Code Compliance dated May 19, 1999, Right of First Refusal to Lease Additional Space dated February 26th, 1999, Right to Approve Lease of Remaining Space Within the Premises dated February 26th, 1999, and Assignment and Subletting dated February 26th 1999, shall hereinafter collectively be referred to as the
“Lease.” Pursuant to the Lease, Lessee currently Leases from Lessor that certain premises containing approximately 86,415 sq. ft. and commonly known as 1740 Monrovia Ave., Costa Mesa, California. 

 

	 	B.	 The Lease grants Lessee an Option to extend the Original Lease term for two extension terms of sixty months each by written notice before 90 days but
not more than 180 days prior to the expiration of the then effective term. Lessee has so exercised such option for the first extension term which commenced 8/1/2004 and expires 7/31/2009. The notification period for Lessee’s option to extend
for the 2nd additional term commences 2/1/2009 and expires
4/30/2009. 

  

	 	C.	Lessor and Lessee desire to amend the Lease upon the terms and conditions more particularly set forth in this Amendment. 

AGREEMENT: 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of

  
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which are hereby acknowledged, Lessor and Lessee hereby amend the Lease, and Lessor and Lessee agree as follows: 
  

	1.	Incorporation: Defined Terms: The Lease, including all exhibits and schedules attached thereto, is incorporated into this Amendment by this reference.

  

	2.	 2nd Extension Option is hereby exercised. Regardless of the notification period specified herein and in the Lease, the 2nd Extension Option shall be exercised as of the execution of this
amendment, with modifications as further described herein. The 2nd Term Extension shall commence August 1, 2009 and End 7/31/2014. 

  

	3.	Immediate Rent Increase: Upon mutual execution of this Amendment, base rent shall be increased by $.05 per sq. ft. / $4,320.75 / mo. to total $.63 per sq. ft. /
$54,441.45 / mo. 

  

	 	a.	 3 % Annual Increases until 7/31/14: On August 1st of each year, rent shall be adjusted upwards by 3% annually. Such 3% annual increase in rent shall occur until the
expiration of the 2nd extension term, which shall end
7/31/2014. 

  

	 	b.	Outstanding Rent: Any change in rent due to Lessor as a result of this rent increase shall be prorated and paid at the next monthly due date for the payment of
rent after the execution of this Amendment. 

  

	4.	 3rd Five- Year Extension Option: Lessor hereby grants to Lessee a 3rd Five- Year Extension Option, commencing August 1, 2014 and ending 7/31/2019. Such Extension Option must be
exercised by written notice before 90 days but not more than 180 days prior to the expiration of the then effective term. 

  

	5.	 Adjustment of First Year Rent for the Third Extension Term: Rent during the first year of the 3rd Extension term commencing August 1, 2014 shall be $.90 per sq.
ft. / $77,773.50. 

  

	6.	CPI Adjustments: Rent rate adjustments for each year subsequent to the first year of the Second extension term shall be based on the change, if any, in the
applicable Consumer Price Index (“CPI”) as further described as follows: 

  

	 	a.	CPI reference and calculation: the Base Rent shall be adjusted by the change, if any, from the Base Month specified below, in the Consumer Price Index of the
Bureau of Labor Statistics of the U.S. Department of Labor for “CPI U” (All Urban Consumers) for Los Angeles – Riverside – Orange County, CA. 

 

	 	b.	On August the first, the monthly rent payable shall be calculated as follows: the monthly Base Rent of the preceding 12 months amount shall be multiplied by a fraction
the numerator of which shall be the average CPI of the trailing twelve months ending in the calendar month June of the same year, and the denominator of which shall be the average CPI of the trailing twelve months ending in the calendar month June
of the preceding year. 

  

	 	c.	The sum so calculated shall constitute the new monthly rent hereunder, even in the event that any such new monthly rent be less than the rent payable for the month
immediately preceding the rent adjustment. 

  
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	 	d.	In the event the compilation and/or publication of the CPI shall be transferred to any other governmental department or bureau or agency or shall be discontinued, then
the index most nearly the same as the CPI shall be used to make such calculation. In the event that the Parties cannot agree on such alternative index, then the matter shall be submitted for decision to the American Arbitration Association in
accordance with the then rules of said Association and the decision of the arbitrators shall be binding upon the parties. The cost of said Arbitration shall be paid equally by the Parties. 

 

	7.	 4th Five-Year Extension Option: Lessor hereby grants to Lessee a 4th Five-Year Extension Option commencing August 1, 2019 and ending 7/31/2024. Such Extension Option must be
exercised by written notice before 90 days but not more than 180 days prior to the expiration of the then effective term. 

  

	8.	 Continued CPI Rent Adjustments: Monthly rent for each of the years 1 – 5 of each of the 3rd and 4th Five-Year Extension Options referenced above shall be determined on an annual basis by a continuation of CPI
adjustments as described in paragraphs 6 a – d above. 

  

	9.	Miscellaneous: 

  

	 	a.	Entire Agreement; Modifications. The Lease, as modified by this Amendment, constitutes the entire agreement between Lessor and Lessee with respect to the transactions
contemplated hereby and supersedes all prior discussions, understandings, agreements and negotiations between Lessor and Lessee in connection therewith. The Lease, as modified by this Amendment, may be modified only by a written instrument duly
executed by Lessor and Lessee. 

  

	 	b.	Captions; Governing Law. The captions contained in this Amendment are for convenience of reference only, and do not limit or enlarge the terms and conditions of this
Amendment. This Amendment and the rights and obligations of the parties hereto shall be interpreted, construed, and enforced in accordance with the laws of the State of California. 

 

	 	c.	Continuing Effect; Gender and Number. Except as modified by this Amendment, the Lease shall remain unmodified and in full force and effect. Singular words shall connote
the plural number as well as the singular and vice versa, and the masculine shall include the feminine and the neuter. (d) Counterparts. This Amendment may be executed in multiple counterparts with the same effect as if all parties hereto had
signed the same document. All such counterparts shall be construed together and shall constitute one and the same instrument. 

  

	 	d.	Conflicts; Incorporation by Reference. In the event of any conflict between the term of this Amendment and the Lease, the terms of this Amendment shall control. All of
the exhibits attached to this Amendment are by this reference incorporated herein and made a part hereof for all purposes. 

  
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 IN WITNESS WHEREOF, this Amendment has been executed as of the day and year first set forth below.

  

					
	 LESSOR:
	 		 	
		
		 	 Griswold Industries

			
		 	 By:
	 	 /s/ Authorized Signatory

			
		 	 Name:
	 	  

			
		 	 Date:
	 	  

			
		 	 Title:
	 	  

			
		 		 	
			
		 	 By:
	 	 /s/ Authorized Signatory

			
		 	 Name:
	 	  

			
		 	 Date:
	 	  

			
		 	 Title:
	 	  

			
		 		 	
			
	 LESSEE:
	 		 	
		
		 	 Volcom, Inc., a Delaware corporation

			
		 	 By:
	 	 /s/ Authorized Signatory

			
		 	 Name:
	 	  

			
		 	 Date:
	 	  

			
		 	 Title:
	 	  

			
		 		 	
			
		 	 By:
	 	 /s/ Authorized Signatory

			
		 	 Name:
	 	  

			
		 	 Date:
	 	  

			
		 	 Title:
	 	  

  
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