Document:

Exhibit
10.3

 

THIRD
AMENDMENT TO CREDIT FACILITY AGREEMENT

 

Reference is made to that
certain Credit Facility Agreement dated as of August 30, 2006, by and
between TechTarget, Inc., and Citizens Bank of Massachusetts now known as
RBS Citizens, National Association, its successor by merger (the “Bank”), which
Credit Facility Agreement, as amended by the First Amendment to Credit Facility
Agreement dated August 30, 2007 and further amended by the Second
Amendment to Credit Facility Agreement dated December 18, 2008, is
referred to herein as the “Credit Agreement.” 
Capitalized terms not defined herein shall bear the same definitions as
set forth in the Credit Agreement.

 

WHEREAS, the parties desire
to reduce the Credit Line from $20,000,000 to $5,000,000 effective as of December 1,
2009.

 

NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are acknowledged,
the parties agree to amend the Credit Agreement as follows:

 

1.                                       The definitions
of “Credit Line” and “Maximum Commitment” set forth in Section 1 are
hereby amended by deleting the figure “$20,000,000” and substituting therefor
the figure “$5,000,000”.

 

2.                                       Section 2.10
entitled Unused Line Fee is hereby amended by deleting the figure “$20,000,000”
and substituting therefor the figure “$5,000,000”.

 

3.                                       As amended
hereby, the Credit Agreement shall continue in full force and effect.  The obligations of the Borrower under the
Credit Agreement and all other Loan Documents shall remain in full force and
effect and are hereby ratified and confirmed by the Borrower.

 

4.                                       The Borrower
represents and warrants to the Bank that (i) to the best of its knowledge
no Events of Default have occurred and no event which with the passage of time
of the giving of notice (or both) would constitute an Event of Default has
occurred; (ii) to the best of its knowledge the Borrower has complied with
all the covenants and agreements contained in the Loan Documents; (iii) to
the best of its knowledge the representations and warranties of the Borrower
contained in the Loan Documents are true and correct in all material respects
as of the date hereof; and (iv) this Amendment and all other documents
relating to this Amendment delivered this date to the Bank have been authorized
by all necessary actions on the part of the Borrower.

 

(there is no further text on this
page)

 

 

As amended hereby, the
Credit Agreement is hereby affirmed and shall continue in full force and effect
in accordance with its terms.

 

Executed this 17th day of
December, 2009

 

	
   

  	
  TECHTARGET,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Its:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RBS
  CITIZENS, NATIONAL ASSOCIATION,

  
	
   

  	
  successor
  by merger to Citizens Bank of Massachusetts

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  William M. Clossey, Vice
  President

  

 

2Exhibit
10.4

 

FIRST
AMENDMENT

TO
PROMISSORY NOTE

 

Reference is made to the
Revolving Promissory Note dated as of August 30, 2006 in the original
principal amount of up to $20,000,000.00 issued by TechTarget, Inc. (the “Borrower”)
to the order of Citizens Bank of Massachusetts (the “Note”).

 

The Borrower and Lender, for
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, hereby agree to amend the Note as follows:

 

1.                                       All references
in the Note to Lender shall be deemed to mean RBS Citizens, National
Association, as successor by merger to Citizens Bank of Massachusetts, with a
place of business at 28 State Street, Boston, Massachusetts.

 

2.                                       The maximum
principal amount of the Note is hereby limited up to $5,000,000.00 and the
definition of Principal Balance is hereby amended to read as follows:

 

“Principal
Balance:  Up to Five Million Dollars
($5,000,000.00).”

 

(there is no further text on this
page)

 

 

As amended hereby, the Note
is hereby affirmed and shall continue in full force and effect in accordance
with its terms.

 

Executed this 17th day of
December, 2009

 

	
   

  	
   

  	
  TECHTARGET,
  INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Accepted as the First Amendment to the foregoing
  Promissory Note:

  
	
   

  	
   

  	
   

  
	
  RBS
  CITIZENS, NATIONAL ASSOCIATION,

  	
   

  	
   

  
	
  successor
  by merger to Citizens Bank of Massachusetts

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
  William M. Clossey, Vice President

  	
   

  	
   

  
					

 

2Exhibit
10.5

 

WAIVER OF
SPECIFIED COVENANTS

 

Reference is made to the
Credit Facility Agreement dated as of August 30, 2006 (the “Agreement”) by
and between TechTarget, Inc., a Delaware corporation with its principal
place of business at 117 Kendrick Street, Needham, MA 02494 as “Borrower,” and
Citizens Bank of Massachusetts now known as RBS Citizens, National Association,
its successor by merger (the “Bank”) with its principal place of business at 28
State Street, Boston, Massachusetts 02109, as amended by the First Amendment to
Credit Facility Agreement dated August 30, 2007 and further amended by the
Second Amendment to Credit Facility Agreement dated December 18,
2008.  Capitalized terms not otherwise
defined herein shall have the same meaning assigned to them in the Agreement.

 

WHEREAS, the Borrower has
requested that Bank waive certain provisions of the Agreement with respect to
the period ending September 30, 2009.

 

1.                                       The Bank hereby
waives the provisions of Sections 12A.3 of the Agreement for delivery of the
financial statements and Covenant Compliance Certificate for the period ended September 30,
2009 as required by said Sections 12A.3, provided, that such delivery is made
by the close of business on January 31, 2010.

 

2.                                       No other
waivers shall be deemed granted by the Bank except as expressly set forth
above, and the only waivers with respect to the Agreement are as set forth
herein in writing.  Nothing herein
contained shall be deemed to constitute an undertaking on the part of the Bank
to grant other or future waivers of the foregoing or any other covenant.

 

3.                                       All other terms
of the Agreement shall continue in full force and effect.  The obligations of the Borrower under all
other documents and instruments executed in connection with the Agreement,
except as specifically waived or modified herein or by any other amendment or
waiver executed by the parties hereto, remain in full force and effect and are
hereby ratified and confirmed by the Borrower.

 

4.                                       Borrower
represents and warrants to the Bank that (i) no default under the
Agreement or under any other documents and instruments executed in connection
with the Agreement has occurred and is continuing; (ii) Borrower has
complied with all the covenants and agreements contained in the Agreement to be
performed by the Borrower; (iii) the representations and warranties of
Borrower contained in the Agreement are true and correct in all material
respects as of the date hereof; and (iv) this document has been authorized
by all necessary corporate action on the part of the Borrower.

 

5.                                       In
consideration of this Waiver, the Borrower agrees to pay all reasonable
expenses (including legal fees) of the Bank incurred in preparing and
negotiating this Waiver and all related documents.  Such expenses and fee may be taken by the
Bank as a charge against Borrower’s demand deposit account with the Bank.

 

 

Executed this 17th day of December, 2009, under seal.

 

 

	
   

  	
  TECHTARGET,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Its:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RBS
  CITIZENS, NATIONAL ASSOCIATION,

  
	
   

  	
  successor
  by merger to Citizens Bank of Massachusetts

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  William M. Clossey, Vice
  President

  

 

2Exhibit
10.6

 

WAIVER OF
SPECIFIED COVENANTS

 

Reference is made to the
Credit Facility Agreement dated as of August 30, 2006 (the “Agreement”) by
and between TechTarget, Inc., a Delaware corporation with its principal
place of business at 117 Kendrick Street, Needham, MA 02494 as “Borrower,” and
Citizens Bank of Massachusetts now known as RBS Citizens, National Association,
its successor by merger (the “Bank”) with its principal place of business at 28
State Street, Boston, Massachusetts 02109, as amended by the First Amendment to
Credit Facility Agreement dated August 30, 2007 and further amended by the
Second Amendment to Credit Facility Agreement dated December 18, 2008 and
further amended by the Third Amendment to Credit Facility Agreement dated December 17,
2009.  Capitalized terms not otherwise
defined herein shall have the same meaning assigned to them in the Agreement.

 

WHEREAS, the Borrower has
requested that Bank waive certain provisions of the Agreement with respect to
the period ending September 30, 2009.

 

1.                                       The Bank hereby
waives the provisions of Sections 12A.3 of the Agreement for delivery of the
financial statements and Covenant Compliance Certificate for the period ended September 30,
2009 as required by said Sections 12A.3, provided, that such delivery is made
by the close of business on February 26, 2010.

 

2.                                       No other
waivers shall be deemed granted by the Bank except as expressly set forth
above, and the only waivers with respect to the Agreement are as set forth
herein in writing.  Nothing herein
contained shall be deemed to constitute an undertaking on the part of the Bank
to grant other or future waivers of the foregoing or any other covenant.

 

3.                                       All other terms
of the Agreement shall continue in full force and effect.  The obligations of the Borrower under all
other documents and instruments executed in connection with the Agreement,
except as specifically waived or modified herein or by any other amendment or
waiver executed by the parties hereto, remain in full force and effect and are hereby
ratified and confirmed by the Borrower.

 

4.                                       Borrower
represents and warrants to the Bank that (i) no default under the
Agreement or under any other documents and instruments executed in connection
with the Agreement has occurred and is continuing; (ii) Borrower has
complied with all the covenants and agreements contained in the Agreement to be
performed by the Borrower; (iii) the representations and warranties of
Borrower contained in the Agreement are true and correct in all material
respects as of the date hereof; and (iv) this document has been authorized
by all necessary corporate action on the part of the Borrower.

 

 

Executed this      day of January, 2010 under seal.

 

 

	
   

  	
  TECHTARGET,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Its:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RBS
  CITIZENS, NATIONAL ASSOCIATION,

  
	
   

  	
  successor
  by merger to Citizens Bank of Massachusetts

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  William M. Clossey, Vice
  President

  

 

2

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