Document:

Subordinated Loan and Security Agreement

 Exhibit 10.3 

SUBORDINATED LOAN AND SECURITY AGREEMENT 

THIS SUBORDINATED LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of April 20, 2016 (the “Effective
Date”) by and among: (a) SILICON VALLEY BANK, a California corporation (“SVB”; and in its capacity as Administrative Agent, the “Agent”), (b) SVB, ORIX VENTURES, LLC, a Delaware limited
liability company (“ORIX”) and any other Lenders listed on Schedule 1 (as amended from time to time in accordance with this Agreement) hereto and otherwise party hereto from time to time (each a “Lender”, and
collectively, the “Lenders”) and (c) APPTIO, INC., a Delaware corporation (“Borrower”), provides the terms on which Lenders shall lend to Borrower and Borrower shall repay Lenders. The parties agree as
follows: 
  

	 	1	ACCOUNTING AND OTHER TERMS 

 Accounting terms not defined in this Agreement shall
be construed following GAAP, except with respect to unaudited financial statements and projections (i) for non-compliance with FAS 123R and (ii) for the absence of footnotes and subject to year-end audit adjustments, including adjustments resulting
from the application of revenue recognition principles under GAAP), provided that if at any time any change in GAAP would affect the computation of any financial ratio or covenant requirement set forth in any Loan Document, and either Borrower or
Agent shall so request, Borrower and Lenders shall negotiate in good faith to amend such ratio or covenant requirement to preserve the original intent thereof in light of such change in GAAP; provided, further, that, until so amended, such ratio or
covenant requirement shall continue to be computed in accordance with GAAP prior to such change therein provided, that (x) any obligations of a Person under a lease (whether existing now or entered into in the future) that is not (or would not be) a
capital lease obligation under GAAP as in effect as of the date of this Agreement shall not be treated as a capital lease obligation solely as a result of the adoption of changes in GAAP). Calculations and determinations must be made following GAAP.
Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section 13. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent such
terms are defined therein. 
  

	 	2	LOAN AND TERMS OF PAYMENT 

 2.1 Promise to Pay. Borrower hereby
unconditionally promises to pay Lenders the outstanding principal amount of all Credit Extensions and accrued and unpaid interest thereon as and when due in accordance with this Agreement. 

2.1.1 Term Loans. 

(a) Availability. Subject to the terms and conditions of this Agreement, on the Effective Date or as soon thereafter as all conditions
precedent to the making thereof have been satisfied, Lenders shall each make one term loan to Borrower in an amount equal to such Lender’s Commitment Percentage multiplied by Ten Million Dollars ($10,000,000.00) (the “Initial Term
Loan”). Thereafter, during the Draw Period, each Lender agrees (jointly and not severally) to make one or more additional term loans available to Borrower in an aggregate amount up to such Lender’s Commitment Percentage multiplied by
Ten Million Dollars ($10,000,000.00) (each such term loan, a “Term Loan” and collectively with the Initial Term Loan the “Term Loans”). Each Term Loan shall be in a principal amount not less than Two Million Five
Hundred Thousand Dollars ($2,500,000). After repayment, the Term Loans may not be reborrowed. 
 (b) Interest
Payments. Commencing on the first Payment Date following the Funding Date of each Term Loan, and continuing on each Payment Date thereafter, Borrower shall make monthly payments of interest, in arrears, on the principal amount of each Term
Loan at the rate set forth in Section 2.3(a). 
 (c) Repayment. All outstanding principal and accrued and unpaid interest with
respect to each Term Loan and all other outstanding Obligations with respect to the Term Loans, including the Final Payment are due and payable in full on the Term Loan Maturity Date. 

  
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 (d) Permitted Prepayment. Borrower shall have the option to prepay all, but not less
than all, of the Term Loans, provided Borrower (i) delivers written notice to Agent (who will then promptly notify each Lender) of its election to prepay the Term Loans at least three (3) days prior to such prepayment, and (ii) pays, on the date of
such prepayment (A) all outstanding principal plus accrued and unpaid interest with respect to the Term Loans, (B) the Prepayment Fee, (C) the Final Payment and (D) all other sums, if any, that shall have become due and payable with respect to the
Term Loans, including interest at the Default Rate with respect to any past due amounts. 
 (e) Mandatory Prepayment Upon an
Acceleration. If the Term Loans are accelerated by Agent following the occurrence and during the continuance of an Event of Default, Borrower shall immediately pay to Agent, for the ratable benefit of the Lenders, an amount equal to the sum
of (A) all outstanding principal plus accrued and unpaid interest with respect to the Term Loans, (B) the Prepayment Fee, (C) the Final Payment and (D) all other sums, if any, that shall have become due and payable with respect to the Term Loans,
including interest at the Default Rate with respect to any past due amounts. 
 2.2 Intentionally Omitted. 

2.3 Payment of Interest on the Credit Extensions. 

(a) Interest Rate. Subject to Section 2.3(b), the principal amount outstanding for each Term Loan shall accrue interest at a fixed
per annum rate equal to nine and one half of one percent (9.50%), which interest shall be payable monthly in accordance with Section 2.1.1(b) above and Section 2.3(d) below. 

(b) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear interest at
a rate per annum which is five percentage points (5.00%) above the rate that is otherwise applicable thereto (the “Default Rate”) unless Agent, upon instructions from the Lenders in accordance with the Intercreditor Agreement,
otherwise elects from time to time to impose a smaller increase. Fees and expenses which are required to be paid by Borrower pursuant to the Loan Documents (including, without limitation, Lender Expenses) but are not paid when due shall bear
interest until paid at a rate equal to the highest rate applicable to the Obligations. Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not
constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Agent or Lenders. 
 (c)
Intentionally Omitted. 
 (d) Computation; 360-Day Year. In computing interest, the date of the making of any Credit
Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit
Extension. Interest shall be computed on the basis of a 360-day year for the actual number of days elapsed. 
 (e) Debit of
Accounts. Agent may, for the ratable benefit of the Lenders, debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Lenders when due. These
debits shall not constitute a set-off. Agent shall promptly distribute the amount of such debits ratably to the Lenders. 
 2.4
Fees. Borrower shall pay to Agent, for the ratable benefit of Lenders: 
 (a) Commitment Fee. A fully earned, non-refundable commitment fee of (i) Two Hundred Thousand Dollars ($200,000) on the Effective Date plus (ii) two percent (2.00%) of the aggregate principal amount of any Term Loans (other than the Initial
Term Loan) made by Lenders to Borrower thereafter, due and payable on the Funding Date of any such Term Loan; 
 (b) Unused Fee. A
fee (the “Unused Fee”), payable quarterly, in arrears, on a calendar year basis, in an amount equal to one percent (1.00%) per annum of the average daily undrawn portion of the Term Loans, as reasonably determined by Agent. Borrower
shall not be entitled to any credit, rebate or repayment of any Unused Fee previously earned by Lenders pursuant to this Section notwithstanding any termination of the Agreement or the suspension or termination of Lenders’ obligation to make
Credit Extensions hereunder; 

  
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 (c) Prepayment Fee. The Prepayment Fee, when due hereunder; 

(d) Final Payment. The Final Payment, when due hereunder; 

(e) Lender Expenses. All Lender Expenses (including reasonable attorneys’ fees for one counsel and expenses for documentation and
negotiation of this Agreement and the loan documents referenced in Section 3.1 related to the Senior Loan Agreement (“Documentation Fees”); provided that Agent will provide Borrower prior notice of such Documentation Fees exceeding Thirty
Thousand Dollars ($30,000) in the aggregate as of the Effective Date, and Agent shall not continue to incur such Documentation Fees until Borrower provides to Agent written approval to proceed with the documentation and negotiation of this
Agreement) incurred through and after the Effective Date, when due. 
 (f) Fees Fully Earned. Unless otherwise provided in this
Agreement, Borrower shall not be entitled to any credit, rebate, or repayment of any fees earned by Agent or Lenders pursuant to this Agreement notwithstanding any termination of this Agreement or the suspension or termination of Lenders’
obligations to make loans and advances hereunder. Agent may, for the ratable benefit of the Lenders, deduct amounts owing by Borrower under the clauses of this Section 2.4 pursuant to the terms of Section 2.3(e). Agent shall provide Borrower and
Lenders written notice of deductions made from the Designated Deposit Account pursuant to the terms of the clauses of this Section 2.4. 

2.5 Payments; Application of Payments. 

(a) All payments (including prepayments) to be made by Borrower under any Loan Document shall be made in immediately available funds in U.S.
Dollars, without setoff or counterclaim, before 12:00 p.m. Pacific time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Pacific time are considered received at the opening of business on the next Business Day.
When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid. All payments of principal, interest, and fees under this
Agreement shall be made by Borrower at the office specified by Agent, and Agent shall promptly remit to each Lender its share of all such payments received in collected funds by Agent for the account of such Lender at the office specified by such
Lender. 
 (b) Subject to the Intercreditor Agreement, Agent has the exclusive right to determine the order and manner in which all payments
with respect to the Obligations may be applied. Borrower shall have no right to specify the order or the accounts to which Agent shall allocate or apply any payments required to be made by Borrower to Lenders or otherwise received by Agent or the
Lenders under this Agreement when any such allocation or application is not specified elsewhere in this Agreement. 
  

	 	3	CONDITIONS OF LOANS 

 3.1 Conditions Precedent to Initial Credit
Extension. Each Lender’s obligation to make the initial Credit Extension is subject to the condition precedent that Agent shall have received, in form and substance satisfactory to Agent, such documents, and completion of such other
matters, as Agent may reasonably deem necessary or appropriate, including, without limitation: 
 (a) duly executed original signatures to
the Loan Documents; 
 (b) Borrower’s Operating Documents and a good standing certificate of Borrower certified by the Secretary of
State of the State of Delaware as of a date no earlier than thirty (30) days prior to the Effective Date; 
 (c) duly executed original
signatures to the completed Borrowing Resolutions for Borrower; 

  
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 (d) duly executed original signatures to the Warrants; 

(e) duly executed original signatures to that certain First Amendment to the Senior Loan Agreement dated as of the date hereof; 

(f) duly executed original signatures to a Subordination Agreement by and among SVB, in its capacity as Agent and a Lender hereunder, SVB in
its capacity as lender under the Senior Loan Agreement and ORIX dated as of the date hereof; 
 (g) duly executed original signatures to the
Intercreditor Agreement by and among SVB and ORIX, and acknowledged by Borrower, dated as of the date hereof; 
 (h) duly executed original
signatures to that certain First Amendment to the Senior Loan Agreement dated as of the date hereof; 
 (i) certified copies, dated as of a
recent date, of financing statement searches, as Lenders shall request, accompanied by written evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted Liens or have
been or, in connection with the initial Credit Extension, will be terminated or released; 
 (j) an updated Perfection Certificate of
Borrower, together with the duly executed original signatures thereto; 
 (k) evidence satisfactory to Agent that the insurance policies
required by Section 6.5 hereof are in full force and effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses and cancellation notice to Agent (or endorsements reflecting the same) in favor of Agent;
and 
 (l) payment of the fees and Lender Expenses then due as specified in Section 2.4 hereof. 

3.2 Conditions Precedent to all Credit Extensions. Each Lender’s obligations to make each Credit Extension, including the
initial Credit Extension, is subject to the following conditions precedent: 
 (a) timely receipt by Agent of an executed Payment/Advance
Form; 
 (b) (i) the representations and warranties in this Agreement shall be true, accurate, and complete in all material respects on the
date of the Payment/Advance Form and on the Funding Date of each Credit Extension; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality
in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, and (ii) no Event of Default shall have
occurred and be continuing or result from the Credit Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in this Agreement remain true, accurate, and complete in all
material respects; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those
representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; 

(c) with respect to all Term Loans (other than the Initial Term Loan), Borrower must be in compliance on a Pro Forma Basis with the financial
covenants contained in (i) Section 6.7 of this Agreement and (ii) Section 6.7 of the Senior Loan Agreement; and 
 (d) in Agent’s sole
but reasonable discretion, there has not been a Material Adverse Change. 
 3.3 Covenant to Deliver. Borrower agrees to
deliver to Agent each item required to be delivered to Agent under this Agreement as a condition precedent to any Credit Extension. Borrower expressly agrees that a 

  
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Credit Extension made prior to the receipt by Agent of any such item shall not constitute a waiver by Agent of Borrower’s obligation to deliver such item, and the making of any Credit
Extension in the absence of a required item shall be in Lenders’ sole discretion. 
 3.4 Procedures for Borrowing.
Subject to the prior satisfaction of all other applicable conditions to the making of a Credit Extension set forth in this Agreement, to obtain a Credit Extension, Borrower shall notify Agent (and Agent will promptly notify each Lender) (which
notice shall be irrevocable) by electronic mail, facsimile, or telephone no later than 12:00 p.m. Pacific time five (5) Business Days before the proposed Funding Date of such Credit Extension. Together with any such electronic or facsimile
notification, Borrower shall deliver to Agent (and Agent will promptly notify each Lender) by electronic mail or facsimile a completed Payment/Advance Form executed by a Responsible Officer or his or her designee. If Borrower satisfies the
conditions of the Credit Extension, each Lender shall, not later than 12:00 pm Pacific time on the Funding Date, provide Agent at the office specified by Agent with immediately available funds in an amount equal to such Lender’s Commitment
Percentage multiplied by the amount of the Credit Extension. Agent may rely on any telephone notice given by a person whom Agent believes is a Responsible Officer or designee. 

 

	 	4	CREATION OF SECURITY INTEREST 

 4.1 Grant of Security
Interest. Borrower hereby grants Agent, for the ratable benefit of each Lender, to secure the payment and performance in full of all of the Obligations, a continuing security interest in, and pledges to Agent, for the ratable benefit of
each Lender, the Collateral, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof; provided, that (a) solely with respect to Borrower’s Intellectual Property, such security interest
shall not be effective unless or until an IP Default has occurred and is continuing, (b) such security interest shall not constitute a cure of the Event(s) of Default giving rise thereto, and (c) any cure of the Events(s) of Default shall not be
deemed a release of Agent’s security interest in Borrower’s Intellectual Property unless Agent and Lenders otherwise consent thereto in writing. Notwithstanding the foregoing, at all times (whether before or after Agent’s security
interest in Intellectual Property has become effective) the Collateral shall include all proceeds of all Intellectual Property (whether acquired upon the sale, lease, license, exchange or other disposition of such Intellectual Property) and all
other rights arising out of Intellectual Property. 
 If this Agreement is terminated, Agent’s Lien in the Collateral shall continue
until the Obligations (other than inchoate indemnity obligations) are satisfied in full, and at such time, Agent shall, at Borrower’s sole cost and expense, terminate its security interest in the Collateral and all rights therein shall revert
to Borrower. 
 4.2 Priority of Security Interest. Borrower represents, warrants, and covenants that the security interest
granted herein is and shall at all times continue to be a first priority perfected security interest in the Collateral (subject only to Permitted Liens that may have superior priority to Agent’s Lien under this Agreement). If Borrower shall
acquire a commercial tort claim with a claim in excess of One Hundred Thousand Dollars ($100,000), Borrower shall promptly notify Agent in a writing signed by Borrower of the general details thereof and grant to Agent, for the ratable benefit of the
Lenders, in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Agent. 

4.3 Authorization to File Financing Statements. Borrower hereby authorizes Agent to file financing statements, without notice to
Borrower, with all appropriate jurisdictions to perfect or protect Agent’s or Lenders’ interest or rights hereunder, including a notice that any disposition of the Collateral, by either Borrower or any other Person, shall be deemed to
violate the rights of Agent and Lenders under the Code. Such financing statements may indicate the Collateral as “all assets of the Debtor” or words of similar effect, or as being of an equal or lesser scope, or with greater detail, all in
Agent’s discretion. 

  
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	 	5	REPRESENTATIONS AND WARRANTIES 

 Borrower represents and warrants as follows: 

5.1 Due Organization, Authorization; Power and Authority. Borrower is duly existing and in good standing as a Registered
Organization in its jurisdiction of formation and is qualified and licensed to do business and is in good standing in any jurisdiction in which the conduct of its business or its ownership of property requires that it be qualified except where the
failure to do so could not reasonably be expected to have a material adverse effect on Borrower’s business. In connection with this Agreement, Borrower has delivered to Agent a completed certificate signed by Borrower entitled “Perfection
Certificate”. Borrower represents and warrants to Agent and Lenders that (a) Borrower’s exact legal name is that indicated on the Perfection Certificate and on the signature page hereof; (b) Borrower is an organization of the
type and is organized in the jurisdiction set forth in the Perfection Certificate; (c) the Perfection Certificate accurately sets forth Borrower’s organizational identification number or accurately states that Borrower has none; (d) the
Perfection Certificate accurately sets forth Borrower’s place of business, or, if more than one, its chief executive office as well as Borrower’s mailing address (if different than its chief executive office); (e) Borrower (and each
of its predecessors) has not, in the past five (5) years, changed its jurisdiction of formation, organizational structure or type, or any organizational number assigned by its jurisdiction; and (f) all other information set forth on the Perfection
Certificate pertaining to Borrower and each of its Subsidiaries is accurate and complete (it being understood and agreed that Borrower may from time to time update certain information in the Perfection Certificate after the Effective Date to the
extent permitted by one or more specific provisions in this Agreement). If Borrower is not now a Registered Organization but later becomes one, Borrower shall promptly notify Agent and Lenders of such occurrence and provide Agent and Lenders with
Borrower’s organizational identification number. 
 The execution, delivery and performance by Borrower of the Loan Documents to which
it is a party have been duly authorized, and do not (i) conflict with any of Borrower’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law, (iii) contravene,
conflict or violate any applicable order, writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected,
(iv) require any action by, filing, registration, or qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and effect or
(v) constitute an event of default under any material agreement by which Borrower is bound. Borrower is not in default under any agreement to which it is a party or by which it is bound in which the default could reasonably be expected to
have a material adverse effect on Borrower’s business. 
 5.2 Collateral. Borrower has good title to, rights in, and the
power to transfer each item of the Collateral upon which it purports to grant a Lien hereunder, free and clear of any and all Liens except Permitted Liens. Borrower has no Collateral Accounts at or with any bank or financial institution other than
SVB or SVB’s Affiliates except for the Collateral Accounts described in the Perfection Certificate delivered to Agent in connection herewith and which Borrower has taken such actions as are necessary to give Agent, for the ratable benefit of
Lenders, a perfected security interest therein, to the extent required pursuant to the terms of Section 6.6(b). The Accounts are bona fide, existing obligations of the Account Debtors. 

The Collateral is not in the possession of any third party bailee (such as a warehouse) except (i) as otherwise provided in the
Perfection Certificate, (ii) as otherwise disclosed to Agent and the Lenders pursuant to Section 7.2, or (iii) as otherwise permitted to be located pursuant to Section 7.2 after the Effective Date. None of the components of
the Collateral shall be maintained at locations other than as provided in the Perfection Certificate or as permitted pursuant to Section 7.2. 

All Inventory is in all material respects of good and marketable quality, free from material defects. 

Borrower is the sole owner of the Intellectual Property which it owns or purports to own except for (a) non-exclusive licenses granted to its
customers in the ordinary course of business, (b) over-the-counter software or non-material software that is commercially available to the public, and (c) material Intellectual Property licensed to Borrower and noted on the Perfection Certificate.
To the best of Borrower’s knowledge, each Patent which it owns or purports to own and which is material to Borrower’s business is valid and enforceable, and no part of the 

  
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Intellectual Property which Borrower owns or purports to own and which is material to Borrower’s business has been judged invalid or unenforceable, in whole or in part. To the best of
Borrower’s knowledge, no claim has been made that any part of the Intellectual Property violates the rights of any third party except to the extent such claim would not reasonably be expected to have a material adverse effect on Borrower’s
business. 
 Except as noted on the Perfection Certificate, Borrower is not a party to, nor is it bound by, any Restricted License. 

5.3 Intentionally Omitted. 

5.4 Litigation. Except as disclosed to Agent pursuant to Section 6.2(h) hereof, there are no actions or proceedings pending
or, to the knowledge of the Responsible Officers, threatened in writing by or against Borrower or any of its Subsidiaries involving more than, individually or in the aggregate with respect to any related actions or proceedings, One Million Dollars
($1,000,000). 
 5.5 Financial Statements; Financial Condition. All consolidated financial statements for Borrower and any of
its Subsidiaries delivered to Agent fairly present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material deterioration in Borrower’s
consolidated financial condition since the date of the most recent financial statements submitted to Agent. 
 5.6 Solvency.
The fair salable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is
able to pay its debts (including trade debts) as they mature. 
 5.7 Regulatory Compliance. Borrower is not an
“investment company” or a company “controlled” by an “investment company” under the Investment Company Act of 1940, as amended. Borrower is not engaged as one of its important activities in extending credit for margin
stock (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower has complied in all material respects with the Federal Fair Labor Standards Act. Neither Borrower nor any of its Subsidiaries is a “holding company”
or an “affiliate” of a “holding company” or a “subsidiary company” of a “holding company” as each term is defined and used in the Public Utility Holding Company Act of 2005. Borrower has not violated any laws,
ordinances or rules, the violation of which could reasonably be expected to have a material adverse effect on its business. None of Borrower’s or any of its Subsidiaries’ properties or assets has been used by Borrower or any Subsidiary or,
to the best of Borrower’s knowledge, by previous Persons, in disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and each of its Subsidiaries have obtained all consents, approvals and
authorizations of, made all declarations or filings with, and given all notices to, all Government Authorities that are necessary to continue their respective businesses as currently conducted, except for any non-compliance that could not reasonably
be expected to result in a material adverse effect upon Borrower’s and its Subsidiaries’ business. 
 5.8 Subsidiaries;
Investments. Borrower does not own any stock, partnership interest or other equity securities except for Permitted Investments. 

5.9 Tax Returns and Payments; Pension Contributions. Borrower has timely filed all required material tax returns and reports,
and Borrower has timely paid all material foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower. Borrower may defer payment of any contested taxes, provided that Borrower (a) in good faith contests its
obligation to pay the taxes by appropriate proceedings promptly and diligently instituted and conducted, (b) notify Agent in writing of the commencement of, and any material development in, the proceedings, and (c) posts bonds or takes any other
steps required to prevent the governmental authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien”. Borrower is unaware of any claims or adjustments proposed for any of
Borrower’s prior tax years which could result in additional taxes becoming due and payable by Borrower that if not paid could reasonably be expected to result in a material adverse effect on Borrower’s business. Borrower has paid all
amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and Borrower has not withdrawn from participation in, and has not permitted partial or complete termination of, or
permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other
governmental agency. 

  
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 5.10 Use of Proceeds. Borrower shall use the proceeds of the Credit Extensions
solely as working capital and to fund its general business requirements and not for personal, family, household or agricultural purposes. 

5.11 Full Disclosure. No written representation, warranty or other statement of Borrower in any certificate or written
statement given to Agent, as of the date such representation, warranty, or other statement was made, taken together with all such written certificates and written statements given to Agent, contains any untrue statement of a material fact or omits
to state a material fact necessary to make the statements contained in the certificates or statements not misleading (it being recognized by Agent that the projections and forecasts provided by Borrower in good faith and based upon reasonable
assumptions are not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results). 

5.12 Definition of “Knowledge.” For purposes of the Loan Documents, whenever a representation or warranty is
made to Borrower’s knowledge or awareness, to the “best of” Borrower’s knowledge, or with a similar qualification, knowledge or awareness means the actual knowledge, after reasonable investigation, of the Responsible Officers.

  

	 	6	AFFIRMATIVE COVENANTS 

 Borrower shall do all of the following: 

6.1 Government Compliance. 

(a) Maintain its and all its Subsidiaries’ legal existence and good standing in their respective jurisdictions of formation and maintain
qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on Borrower’s business or operations. Borrower shall comply, and have each Subsidiary comply, with all laws,
ordinances and regulations to which it is subject, noncompliance with which could have a material adverse effect on Borrower’s business. 

(b) Obtain all of the Governmental Approvals necessary for the performance by Borrower of its obligations under the Loan Documents to which it
is a party and the grant of a security interest to Agent in all of its property. Borrower shall promptly provide, upon Agent’s request, copies of any such obtained Governmental Approvals to Agent. 

6.2 Financial Statements, Reports, Certificates. Deliver to Agent (and Agent shall promptly deliver copies to each Lender): 

(a) Monthly Financial Statements. As soon as available, but no later than thirty (30) days after the last day of each month, a company
prepared consolidated and consolidating balance sheet and income statement covering Borrower’s and each of its Subsidiary’s operations for such month certified by a Responsible Officer and in a form reasonably acceptable to Agent (the
“Monthly Financial Statements”); 
 (b) Monthly Compliance Certificate. Within thirty (30) days after the last
day of each month and together with the Monthly Financial Statements, a duly completed Compliance Certificate signed by a Responsible Officer, certifying that as of the end of such month, Borrower was in full compliance with all of the terms and
conditions of this Agreement, and setting forth calculations showing compliance with the financial covenants set forth in this Agreement and such other information as Agent shall reasonably request; 

(c) Annual Audited Financial Statements. As soon as available, but no later than one hundred eighty (180) days after the last day of
Borrower’s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the financial statements from an independent certified public accounting firm acceptable to
Agent in its reasonable discretion; 

  
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 (d) Annual Business Plan. As soon as available, but no later than sixty (60) days after
the last day of Borrower’s fiscal year, Borrower’s annual business plan prepared in good faith by Borrower and approved by Borrower’s board of directors with respect to the following fiscal year; 

(e) 409(A) Valuation Report. As soon as available, but no later than thirty (30) days after completion, Borrower’s 409(A)
valuation report; 
 (f) Other Statements. Within five (5) days of delivery, copies of all statements, reports and notices made
available to Borrower’s security holders or to any holders of Subordinated Debt; 
 (g) SEC Filings. In the event that
Borrower becomes subject to the reporting requirements under the Exchange Act within five (5) days of filing, copies of all periodic and other reports, proxy statements and other materials filed by Borrower with the SEC, any Governmental Authority
succeeding to any or all of the functions of the SEC or with any national securities exchange, or distributed to its shareholders, as the case may be. Documents required to be delivered pursuant to the terms hereof (to the extent any such
documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date on which Borrower posts such documents, or provides a link thereto, on
Borrower’s website on the Internet at Borrower’s website address; 
 (h) Legal Action Notice. A prompt report of any
legal actions pending or threatened in writing against Borrower or any of its Subsidiaries that could result in damages or costs to Borrower or any of its Subsidiaries of, individually or in the aggregate with respect to any related actions or
proceedings, One Million Dollars ($1,000,000) or more; 
 (i) Intellectual Property Notice. Within thirty (30) days of the end
of each fiscal quarter of Borrower, all required reports or notices with respect to Borrower’s Intellectual Property, as required pursuant to Section 6.8 of this Agreement, shall be delivered to Agent; and 

(j) Other Financial Information. Budgets, sales projections, operating plans and other financial information reasonably requested
by Agent. 
 6.3 Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects. Returns
and allowances with respect to Inventory between Borrower and its Account Debtors shall follow Borrower’s customary practices as they exist at the Effective Date. Borrower must promptly notify Agent of all returns, recoveries, disputes and
claims, in each case, with respect to Inventory, that involve more than Five Hundred Thousand Dollars ($500,000). 
 6.4 Taxes;
Pensions. Timely file, and require each of its Subsidiaries to timely file, all required material tax returns and reports and timely pay, and require each of its Subsidiaries to timely pay, all material foreign, federal, state and local
taxes, assessments, deposits and contributions owed by Borrower and each of its Subsidiaries, except for deferred payment of any taxes contested pursuant to the terms of Section 5.9 hereof, and shall deliver to Agent, on demand, appropriate
certificates attesting to such payments, and pay all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms. 

6.5 Insurance. Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrower’s
industry and location and as Agent may reasonably request. Insurance policies shall be in a form, with companies, and in amounts that are reasonably satisfactory to Agent. All property policies shall have a lender’s loss payable endorsement
showing Agent, for the ratable benefit of Lenders, as a lender loss payee and waive subrogation against Agent, for the ratable benefit of the Lenders. All liability policies shall show, or have endorsements showing, Agent, for the ratable benefit of
the Lenders, as an additional insured. 
 All policies (or their respective endorsements) shall provide that the insurer shall give Borrower
at least twenty (20) days notice before canceling, amending, or declining to renew its policy and Borrower shall provide prompt notice to Agent and the Lenders on receipt of any such notice.

  
 9 

 At Agent’s request, Borrower shall deliver certified copies of policies and evidence of all
premium payments. Proceeds payable under any policy shall, at Agent’s option, be payable to Agent, for the ratable benefit of the Lenders, on account of the Obligations. Notwithstanding the foregoing, (a) so long as no Event of Default has
occurred and is continuing, Borrower shall have the option of applying the proceeds of any casualty policy with respect to Collateral up to Five Hundred Thousand Dollars ($500,000) with respect to any loss, but not exceeding One Million Dollars
($1,000,000) in the aggregate for all losses under all casualty policies in any one year, toward the replacement or repair of destroyed or damaged property; provided that any such replaced or repaired property (i) shall be of equal or
like value as the replaced or repaired Collateral and (ii) shall be deemed Collateral in which Agent, for the ratable benefit of the Lenders, has been granted a first priority security interest, and (b) after the occurrence and during the
continuance of an Event of Default, all proceeds payable under such casualty policy with respect to Collateral shall, at the option of Agent in accordance with the Intercreditor Agreement, be payable to Agent, for the ratable benefit of the Lenders,
on account of the Obligations. If Borrower fails to obtain insurance as required under this Section 6.5 or to pay any amount or furnish any required proof of payment to third persons and Agent, Agent may make all or part of such payment or
obtain such insurance policies required in this Section 6.5, and take any action under the policies Agent deems prudent. 
 6.6 Operating
Accounts. 
 (a) Maintain all of its and its U.S. Subsidiaries’ operating and other deposit accounts and securities accounts
with SVB and SVB’s Affiliates; provided, however, if Borrower completes an initial public offering and, as a result, Borrower and its Subsidiaries have cash balances greater than or equal to One Hundred Million Dollars ($100,000,000), Borrower
and its Subsidiaries may maintain securities accounts outside of SVB provided that the aggregate amount of all funds in accounts at SVB and SVB’s Affiliates at all times represent at least fifty percent (50%) of the Dollar value of
Borrower’s and such Subsidiaries’ accounts at all financial institutions. 
 (b) Provide Agent five (5) days’ prior written
notice before establishing any Collateral Account at or with any bank or financial institution other than SVB or SVB’s Affiliates. For each Collateral Account that Borrower at any time maintains within the United States, Borrower shall cause
the applicable bank or financial institution (other than SVB) at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect
Agent’s Lien in such Collateral Account in accordance with the terms hereunder which Control Agreement may not be terminated without the prior written consent of Agent. The provisions of the previous sentence shall not apply to deposit accounts
exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Lenders by Borrower as such. 

6.7 Financial Covenant. If Borrower’s and its Subsidiaries’ Cash is less than Twenty Five Million Dollars
($25,000,000) as of the last day of any monthly measuring period, Borrower shall have maintained, as of the last day of the most recently ended calendar quarter (including as of the same date of measurement for any measurement taken as of the last
day of March, June, September and December), Bookings, measured on a trailing six (6) month basis of not less than seventy-five percent (75%) of the Booking levels set forth in Borrower’s annual business plan (as delivered to Agent and Lenders
in accordance with Section 6.2(d)) and as approved in writing by Agent and Lenders in their reasonable business judgment) for the applicable quarterly measuring period. Bookings requirements for Borrower’s 2017 fiscal year and thereafter, shall
be set forth in, and based upon, Borrower’s annual business plan delivered to Agent and Lenders in accordance with Section 6.2(d) with such bookings requirements determined pursuant to this Section 6.7; provided, further, that for the periods
ending as of the last day of January and February of each year, prior to the delivery of Borrower’s annual business plan pursuant to Section 6.2(d), required Bookings for such months shall be based upon the prior year actual Bookings for such
months in lieu of a forecasted amount for such months in which no annual financial projections have been delivered pursuant to Section 6.2(d) prior to the end of such months. For example, for January 2017, this covenant would be calculated using the
actual Bookings for the months August through December 2016 (5 months) plus actual Bookings for the month of January 2016. Notwithstanding the foregoing, such annual business plan and Bookings requirements must be approved in writing by Agent and
Lenders in their reasonable business judgment by March 31st of the applicable year. 

  
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 6.8 Protection and Registration of Intellectual Property Rights. 

(a) (i) Protect, defend and maintain the validity and enforceability of its material Intellectual Property; (ii) promptly advise Agent in
writing of material infringements of its material Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s business to be abandoned, forfeited or dedicated to the public without Agent’s written consent.

 (b) Effective at all times after the occurrence of an IP Default, if Borrower (i) obtains any Patent, registered Trademark, registered
Copyright, registered mask work, or any pending application for any of the foregoing, or (ii) applies for any Patent or the registration of any Trademark or the registration of any Copyright or mask work in the United States Copyright Office, then
Borrower shall provide written notice to Agent pursuant to Section 6.2(i), including, application and/or registration numbers with respect to such Intellectual Property and shall execute such intellectual property security agreements and other
documents and take such other actions as Agent shall request in its good faith business judgment to perfect and maintain a first priority perfected security interest in favor of Agent, for the benefit of the Lenders, in such property. 

(c) Provide written notice to Agent pursuant to Section 6.2(i) if Borrower has entered into or become bound by any Restricted License (other
than over-the-counter software that is commercially available to the public) during the applicable fiscal quarter. Borrower shall use its commercially reasonable efforts take such steps as Agent reasonably requests to obtain the consent of, or
waiver by, any person whose consent or waiver is necessary for (i) any Restricted License to be deemed “Collateral” and for Agent to have, for the benefit of the Lenders, a security interest in it that might otherwise be restricted or
prohibited by law or by the terms of any such Restricted License, whether now existing or entered into in the future, and (ii) Agent to have the ability in the event of a liquidation of any Collateral to dispose of such Collateral, for the
benefit of the Lenders, in accordance with Agent’s rights and remedies under this Agreement and the other Loan Documents. 
 6.9
Litigation Cooperation. From the date hereof and continuing through the termination of this Agreement, make available to Agent, without expense to Agent, Borrower and its officers, employees and agents and Borrower’s books and
records, to the extent that Agent may deem them reasonably necessary to prosecute or defend any third-party suit or proceeding instituted by or against Agent with respect to any Collateral or relating to Borrower. 

6.10 Access to Collateral; Books and Records. Allow Agent, and/or their agents and advisors, on one (1) Business Day’s
notice (provided no notice is required if an Event of Default has occurred and is continuing), to inspect the Collateral and audit and copy Borrower’s Books, provided that any Lender may, at its sole expense, accompany Agent and/or its agents
and advisors on any such inspections or audits. Unless an Event of Default has occurred and is continuing, no such inspections or audits shall be conducted for so long as Borrower’s aggregate Cash is greater than or equal to Twenty Five Million
Dollars ($25,000,000). At all times when Borrower’s aggregate Cash is less than Twenty Five Million Dollars ($25,000,000), such inspections or audits shall be conducted no more often than once every twelve (12) months unless an Event of Default
has occurred and is continuing. The foregoing inspections and audits shall be at Borrower’s expense, and the charge therefor shall be Eight Hundred Fifty Dollars ($850) per person per day (or such higher amount as shall represent Agent’s
then-current standard charge for the same), plus reasonable out-of-pocket expenses. In the event Borrower and Agent schedule an audit more than ten (10) days in advance, and Borrower cancels or seeks to reschedule the audit with less than ten (10)
days’ written notice to Agent, then (without limiting any of Agent’s or Lenders’ rights or remedies), Borrower shall pay Agent a fee of One Thousand Dollars ($1,000) if Agent requests such fee plus any out-of-pocket expenses incurred
by Agent. 
 6.11 Formation or Acquisition of Subsidiaries. At the time that Borrower forms any direct or indirect Subsidiary
that is organized in the United States or any state thereof or acquires any direct or indirect Subsidiary that is organized in the United States or any state thereof after the Effective Date, other than TECHNOLOGY BUSINESS MANAGEMENT COUNCIL, LTD.,
a Delaware corporation, Borrower shall within 30 days of such formation or acquisition (or such other period of time as consented to by Agent) (a) cause such new Subsidiary to provide to Agent a joinder to the Loan Agreement to cause such Subsidiary
to become a co-borrower hereunder (“Co-Borrower”), together with such appropriate financing statements and/or Control Agreements, all in form and substance satisfactory to Agent (including being sufficient to grant Agent a
first priority Lien (subject to Permitted Liens) in and to the assets of such newly formed or acquired Subsidiary), (b) provide to Agent appropriate certificates and powers and financing statements, pledging all of the direct or beneficial ownership
interest in such 

  
 11 

 
new Subsidiary, in form and substance satisfactory to Agent, and (c) provide to Agent all other documentation in form and substance satisfactory to Agent, including, if reasonably requested by
Agent, one or more opinions of counsel reasonably satisfactory to Agent, which in its opinion is appropriate with respect to the execution and delivery of the applicable documentation referred to above. Any document, agreement, or instrument
executed or issued pursuant to this Section 6.11 shall be a Loan Document. 
 6.12 Further Assurances. Execute any further
instruments and take further action as Agent reasonably request to perfect or continue Agent’s Lien in the Collateral or to effect the purposes of this Agreement, provided, however, that notwithstanding anything in this Agreement, Agent shall
not file the IP Agreement with any Governmental Authority until an IP Default occurs and the security interest granted in such IP Agreement shall not be effective until such time as an IP Default occurs. Deliver to Agent, within five (5) days after
the same are sent or received, copies of all correspondence, reports, documents and other filings with any Governmental Authority regarding compliance with or maintenance of Governmental Approvals or Requirements of Law or that could reasonably be
expected to have a material adverse effect on any of the Governmental Approvals or otherwise on the operations of Borrower or any of its Subsidiaries. 
  

	 	7	NEGATIVE COVENANTS 

 Borrower shall not do any of the following without
Agent’s prior written consent: 
 7.1 Dispositions. Convey, sell, lease, transfer, assign, or otherwise dispose of
(collectively, “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of worn-out or obsolete property; (c) in connection with Permitted Liens and Permitted Investments; (d) Transfers between Loan Parties, and (e) other Transfers in an aggregate amount not to exceed One Million Dollars
($1,000,000) in any fiscal year. 
 7.2 Changes in Business, Management, Ownership or Business Locations. (a) Engage in
or permit any of its Subsidiaries to engage in any business other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably related thereto; (b) liquidate or dissolve; or (c) (i) have a change in CEO
or CFO unless the Board appoints a successor CEO or CFO (which may include an interim or acting CEO and/or CFO) within 90 days of the resignation or termination of the prior CEO or CFO or (ii) consummate any transaction or series of related
transactions in which the stockholders of Borrower who were not stockholders immediately prior to the first such transaction own more than forty nine percent (49%) of the voting stock of Borrower immediately after giving effect to such transaction
or related series of such transactions (other than by the sale of Borrower’s equity securities in a public offering or to venture capital investors so long as Borrower identifies to Agent the venture capital investors at least seven (7)
Business Days prior to the closing of the transaction and provides to Agent a description of the material terms of the transaction). 

Borrower shall not, without at least five (5) days prior written notice to Agent: (1) add any new offices or business locations, including
warehouses (unless such new offices or business locations contain less than One Million Dollars ($1,000,000) in Borrower’s assets or property) or deliver any portion of the Collateral valued, individually or in the aggregate, in excess of One
Million Dollars ($1,000,000) to a bailee at a location other than to a bailee and at a location already disclosed in the Perfection Certificate or to Borrower’s customers in the ordinary course of business, or (2) change its jurisdiction of
organization, (3) change its organizational structure or type, (4) change its legal name, or (5) change any organizational number (if any) assigned by its jurisdiction of organization. If Borrower intends to deliver any portion of the Collateral
valued, individually or in the aggregate, in excess of One Million Dollars ($1,000,000) to a bailee (other than to Borrower’s customers in the ordinary course of business), and Agent and such bailee are not already parties to a bailee agreement
governing both the Collateral and the location to which Borrower intends to deliver the Collateral, then Borrower will first receive the written consent of Agent, and such bailee shall execute and deliver a bailee agreement in form and substance
satisfactory to Agent in its sole discretion. 
 7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its
Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except (i) a Subsidiary may merge or consolidate into
another Subsidiary or into Borrower or (ii) any Permitted Acquisition. 

  
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 7.4 Indebtedness. Create, incur, assume, or be liable for any Indebtedness, or
permit any Subsidiary to do so, other than Permitted Indebtedness. 
 7.5 Encumbrance. Create, incur, allow, or suffer
any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, permit any Collateral not to be subject to the first
priority security interest granted herein, or enter into any agreement, document, instrument or other arrangement (except with or in favor of Agent) with any Person which directly or indirectly prohibits or has the effect of prohibiting Borrower or
any Subsidiary from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s or any Subsidiary’s Intellectual Property in favor of Agent, except for (i) restrictions contained in
agreements in connection with transfers otherwise permitted in Section 7.1 hereof, (ii) restrictions with respect to property subject to any Lien that constitutes a “Permitted Lien” herein and (iii) covenants with such restrictions in
merger or acquisition agreements, provided that such covenants do not prohibit Borrower from granting a security interest in Borrower’s or any Subsidiary’s Intellectual Property in favor of Bank and provided further that the
counter-parties to such covenants are not permitted to receive a security interest in Borrower’s or any Subsidiary’s Intellectual Property. 

7.6 Maintenance of Collateral Accounts. Maintain any Collateral Account except pursuant to the terms of Section 6.6 hereof.

 7.7 Distributions; Investments. (a) Pay any dividends or make any distribution or payment or redeem, retire or
purchase any capital stock provided that (i) Borrower may convert any of its convertible securities into other securities pursuant to the terms of such convertible securities or otherwise in exchange thereof and pay cash in lieu of the issuance of
fractional shares in connection with any conversion or exercise of such convertible securities, (ii) Borrower may pay dividends solely in common stock; and (iii) Borrower may repurchase the stock of former employees, directors or consultants
pursuant to stock repurchase agreements so long as an Event of Default does not exist at the time of such repurchase and would not exist after giving effect to such repurchase, provided such repurchase does not exceed in the aggregate of Five
Hundred Thousand Dollars ($500,000) in cash per fiscal year; or (b) directly or indirectly make any Investment other than Permitted Investments, or permit any of its Subsidiaries to do so. 

7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction with any
Affiliate of Borrower, except for (i) transactions that are in the ordinary course of Borrower’s business, or that are otherwise upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s
length transaction with a non-affiliated Person, (ii) transactions with Subsidiaries that are not otherwise prohibited by this Article 7, (iii) compensation arrangements approved by the Borrower’s board of directors or a duly authorized
committee thereof and (iv) equity and bridge financings with Borrower’s existing investors, provided that any such bridge financing shall constitute Subordinated Debt. 

7.9 Subordinated Debt. (a) Make or permit any payment on any Subordinated Debt, except under the terms of the
subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof or adversely affect the
subordination thereof to Obligations owed to Agent or Lenders. 
 7.10 Compliance. Become an “investment company” or
a company controlled by an “investment company”, under the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase or carry margin stock (as defined in Regulation U of the
Board of Governors of the Federal Reserve System), or use the proceeds of any Credit Extension for that purpose; fail to meet the minimum funding requirements of ERISA, permit a Reportable Event or Prohibited Transaction, as defined in ERISA, to
occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if the violation could reasonably be expected to have a material adverse effect on Borrower’s business, or permit any of its Subsidiaries to
do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial or complete termination of, or permit the occurrence of any other event with respect to, any present pension, profit sharing and deferred compensation plan
which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency. 

  
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	 	8	EVENTS OF DEFAULT 

 Any one of the following shall constitute an event of default
(an “Event of Default”) under this Agreement: 
 8.1 Payment Default. Borrower fails to (a) make
any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day cure period shall not apply
to payments due on the Term Loan Maturity Date). During the cure period, the failure to make or pay any payment specified under clause (a) or (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period);

 8.2 Covenant Default. 

(a) Borrower fails or neglects to perform any obligation in Sections 6.2, 6.4, 6.5, 6.6, 6.7, 6.8(c), 6.10, or violates any covenant in
Section 7; or 
 (b) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement
contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within ten
(10) Business Days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) Business Day period or cannot after diligent attempts by Borrower be cured within such ten (10) Business Day
period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the
failure to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply, among other things, to financial covenants or any other
covenants set forth in clause (a) above; 
 8.3 Material Adverse Change. A Material Adverse Change occurs; 

8.4 Attachment; Levy; Restraint on Business. 

(a) (i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or of any entity under the control of
Borrower (including a Subsidiary) on deposit or otherwise maintained with SVB or any SVB Affiliate, or (ii) a notice of lien or levy is filed against any of Borrower’s assets by any government agency, and the same under subclauses (i) and (ii)
hereof are not, within ten (10) Business Days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Credit Extensions shall be made during any ten (10) Business Day cure
period; or 
 (b) (i) any material portion of Borrower’s assets is attached, seized, levied on, or comes into possession of a trustee
or receiver, or (ii) any court order enjoins, restrains, or prevents Borrower from conducting any material part of its business; 

8.5 Insolvency (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes
insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described
in clause (a) exist and/or until any Insolvency Proceeding is dismissed); 
 8.6 Other Agreements. There is, under any
agreement to which Borrower or any Guarantor is a party with a third party or parties, (a) any Event of Default (as defined under the Senior Loan Agreement) under the Senior Loan Documents; provided that an Event of Default under Section 6.7 of the
Senior Loan Agreement shall not be considered an Event of Default hereunder; (b) subject to Section 8.6(a), any default resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in
an amount individually or in the aggregate in excess of One Million Dollars ($1,000,000); or (c) any default by Borrower or Guarantor, the result of which could have a material adverse effect on Borrower’s or any Guarantor’s business. 

  
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 8.7 Judgments. One or more final judgments, orders, or decrees for the payment
of money in an amount, individually or in the aggregate, of at least One Million Dollars ($1,000,000) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be rendered against
Borrower and the same are not, within ten (10) days after the entry thereof, discharged or execution thereof stayed or bonded pending appeal, or such judgments are not discharged prior to the expiration of any such stay (provided that no Credit
Extensions will be made prior to the discharge, stay, or bonding of such judgment, order, or decree); 
 8.8
Misrepresentations. Borrower or any Person acting for Borrower makes any representation, warranty, or other statement now or later in this Agreement, any Loan Document or in any writing delivered to Lenders or to induce Lenders to enter
this Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made; 

8.9 Subordinated Debt. Any document, instrument, or agreement evidencing any Subordinated Debt shall for any reason be
revoked or invalidated or otherwise cease to be in full force and effect, any Person shall be in breach thereof or contest in any manner the validity or enforceability thereof or deny that it has any further liability or obligation thereunder, or
the Obligations shall for any reason be subordinated or shall not have the priority contemplated by this Agreement; or 
 8.10
Governmental Approvals. Any Governmental Approval shall have been (a) revoked, rescinded, suspended, modified in an adverse manner or not renewed in the ordinary course for a full term or (b) subject to any decision by a
Governmental Authority that designates a hearing with respect to any applications for renewal of any of such Governmental Approval or that could result in the Governmental Authority taking any of the actions described in clause (a) above, and such
decision or such revocation, rescission, suspension, modification or non-renewal (i) has, or could reasonably be expected to have, a Material Adverse Change, or (ii) adversely affects the legal qualifications of Borrower or any of its
Subsidiaries to hold such Governmental Approval in any applicable jurisdiction and such revocation, rescission, suspension, modification or non-renewal could reasonably be expected to result in a Material Adverse Change. 

 

	 	9	AGENT’S RIGHTS AND REMEDIES 

 9.1 Rights and
Remedies. While an Event of Default occurs and continues Agent may, without notice or demand, do any or all of the following: 

(a) declare all Obligations immediately due and payable (but if an Event of Default described in Section 8.5 occurs all Obligations are
immediately due and payable without any action by Agent); 
 (b) stop advancing money or extending credit for Borrower’s benefit under
this Agreement or under any Loan Documents between Borrower and Agent or Lenders; 
 (c) settle or adjust disputes and claims directly with
Account Debtors for amounts on terms and in any order that Agent considers advisable, notify any Person owing Borrower money of Agent’s security interest in such funds, and verify the amount of such account; 

(d) make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in the
Collateral including, without limitation, perfecting Agent’s security interest in Borrower’s Intellectual Property. Borrower shall assemble the Collateral if Agent requests and make it available as Agent designates. Agent may enter
premises where the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred.
Borrower grants Agent a license to enter and occupy any of its premises, without charge, to exercise any of Agent’s or Lenders’ rights or remedies; 

(e) apply to the Obligations in accordance with the Intercreditor Agreement any (i) balances and deposits of Borrower it holds, or (ii) any
amount held by SVB owing to or for the credit or the account of Borrower; 

  
 15 

 (f) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for
sale, and sell the Collateral. Agent is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, Patents, Copyrights, mask works, rights of use of any name, trade secrets, trade names,
Trademarks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Agent’s or Lenders’ exercise of its rights
under this Section, Borrower’s rights under all licenses and all franchise agreements inure to Agent’s or Lenders’ benefit; 

(g) place a “hold” on any account maintained with SVB and/or deliver a notice of exclusive control, any entitlement order, or other
directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 
 (h) demand and
receive possession of Borrower’s Books; and 
 (i) exercise all rights and remedies available to Agent under the Loan Documents or at
law or equity, including all remedies provided under the Code (including disposal of the Collateral pursuant to the terms thereof). 

9.2 Power of Attorney. Borrower hereby irrevocably appoints Agent as its lawful attorney-in-fact, exercisable upon the
occurrence and during the continuance of an Event of Default, to: (a) endorse Borrower’s name on any checks or other forms of payment or security; (b) sign Borrower’s name on any invoice or bill of lading for any Account or drafts against
Account Debtors; (c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Agent determines reasonable; (d) make, settle, and adjust all claims under Borrower’s insurance policies; (e)
pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge the same; and (f) transfer the Collateral into
the name of Agent or a third party as the Code permits. Borrower hereby appoints Agent as its lawful attorney-in-fact to sign Borrower’s name on any documents necessary to perfect or continue the perfection of Agent’s security interest in
the Collateral regardless of whether an Event of Default has occurred until all Obligations (other than inchoate indemnity obligations) have been satisfied in full and Agent and each Lender is under no further obligation to make Credit Extensions
hereunder. Agent’s foregoing appointment as Borrower’s attorney in fact, and all of Agent’s rights and powers, coupled with an interest, are irrevocable until all Obligations have been fully repaid and performed and Agent and each
Lender’s obligation to provide Credit Extensions terminates. 
 9.3 Protective Payments. If Borrower fails to obtain the
insurance called for by Section 6.5 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document, Agent may obtain such insurance or make such payment, and
all amounts so paid by Agent are Lender Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral. Agent will make reasonable efforts to provide Borrower with
notice of Agent obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Agent are deemed an agreement to make similar payments in the future or Agent’s or Lenders’ waiver of any Event of
Default. 
 9.4 Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing,
Agent may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as
Agent shall determine in its sole discretion in accordance with the Intercreditor Agreement. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Agent and Lenders for any
deficiency. If Agent, in its good faith business judgment (and subject to the Intercreditor Agreement), directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Agent shall
have the option, exercisable at any time in accordance with the Intercreditor Agreement, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Agent
of cash therefor. 
 9.5 Agent’s and Lenders’ Liability for Collateral. So long as Agent and each Lender
complies with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of 

  
 16 

 
Agent or Lenders, Agent and Lenders shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the
Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral. 

9.6 No Waiver; Remedies Cumulative. Agent’s or Lenders’ failure, at any time or times, to require strict performance
by Borrower of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Agent or Lenders thereafter to demand strict performance and compliance herewith or therewith. No waiver hereunder shall be
effective unless signed by the party granting the waiver and then is only effective for the specific instance and purpose for which it is given. Agent’s or Lenders’ rights and remedies under this Agreement and the other Loan Documents are
cumulative. Agent and each Lender has all rights and remedies provided under the Code, by law, or in equity. Agent’s or any Lender’s exercise of one right or remedy is not an election and shall not preclude Agent or any Lender from
exercising any other remedy under this Agreement or other remedy available at law or in equity, and Agent’s or Lenders’ waiver of any Event of Default is not a continuing waiver. Agent’s or Lenders’ delay in exercising any remedy
is not a waiver, election, or acquiescence. 
 9.7 Demand Waiver. Borrower waives demand, notice of default or dishonor,
notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Agent or Lender on which Borrower is
liable. 
  

	 	10	NOTICES 

 All notices, consents, requests, approvals, demands, or other
communication by any party to this Agreement or any other Loan Document must be in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in the
U.S. mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission, when sent by electronic mail or facsimile transmission; (c) one (1) Business Day after deposit with a reputable
overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of which shall be addressed to the party to be notified and sent to the address, facsimile number, or email address indicated below. Agent,
Lenders or Borrower may change its mailing or electronic mail address or facsimile number by giving the other party written notice thereof in accordance with the terms of this Section 10. 

 

			
	If to Borrower:	  	APPTIO, INC.
		  	11100 NE 8th Street, Suite 600
		  	Bellevue, WA 98004
		  	Attn: Kurt Shintaffer, CFO
		
	And to:	  	
		  	APPTIO, INC.
		  	11100 NE 8th Street, Suite 600
		  	Bellevue, WA 98004
		  	Attn: John Morrow, GC
		
	If to SVB:	  	Silicon Valley Bank
	(in any capacity)	  	380 Interlocken Crescent, Suite 600
		  	Broomfield, CO 80021
		  	Attn: Mike Devery
		
	If to ORIX:	  	ORIX Ventures, LLC
		  	c/o ORIX Corporate Capital Inc.
		  	1717 Main St., Suite 1100
		  	Dallas, TX 75201
		  	Attn: General Counsel, Operations Manager

  
 17 

	 	11	CHOICE OF LAW, VENUE, JURY TRIAL WAIVER, AND JUDICIAL REFERENCE 

 California law
governs the Loan Documents without regard to principles of conflicts of law. Borrower and Agent and Lenders 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 Agent or Lenders 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 Agent or Lenders. 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 this 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 AGENT AND EACH LENDER WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR
CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS 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. 

  
 18 

	 	12	GENERAL PROVISIONS 

 12.1 Successors and Assigns. This Agreement
binds and is for the benefit of the successors and permitted assigns of each party. Borrower may not assign this Agreement or any rights or obligations under it without Agent and Lenders’ prior written consent (which may be granted or withheld
in Agent and/or Lenders’ discretion). Agent and each Lender has the right, without the consent of or notice to Borrower, to sell, transfer, assign, negotiate, or grant participation in all or any part of, or any interest in, Agent or
Lenders’ obligations, rights, and benefits under this Agreement and the other Loan Documents (other than the Warrants, as to which assignment, transfer and other such actions are governed by the terms thereof). 

12.2 Indemnification. Borrower agrees to indemnify, defend and hold Agent and each Lender and their directors, officers,
employees, agents, attorneys, or any other Person affiliated with or representing agent and Lenders (each, an “Indemnified Person”) harmless against: (a) all obligations, demands, claims, and liabilities (collectively,
“Claims”) claimed or asserted by any other party in connection with the transactions contemplated by the Loan Documents; and (b) all losses or expenses (including Lender Expenses) in any way suffered, incurred, or paid by such
Indemnified Person as a result of, following from, consequential to, or arising from transactions between Agent and Lenders and Borrower, in each case, contemplated by the Loan Documents (including reasonable attorneys’ fees and
expenses), except for Claims and/or losses directly caused by such Indemnified Person’s gross negligence or willful misconduct. 

12.3 Time of Essence. Time is of the essence for the performance of all Obligations in this Agreement. 

12.4 Severability of Provisions. Each provision of this Agreement is severable from every other provision in determining
the enforceability of any provision. 
 12.5 Correction of Loan Documents. Agent may correct patent errors and fill in
any blanks in the Loan Documents consistent with the agreement of the parties so long as Agent provides Borrower and each Lender with written notice of such correction and allows Borrower and Lenders at least ten (10) days to object to such
correction. In the event of such objection, such correction shall not be made except by an amendment signed in accordance with Section 12.6. 

12.6 Amendments in Writing; Waiver; Integration. No purported amendment or modification of any Loan Document, or waiver,
discharge or termination of any obligation under any Loan Document, shall be enforceable or admissible unless, and only to the extent, expressly set forth in a writing signed by the party against which enforcement or admission is
sought. Without limiting the generality of the foregoing, no oral promise or statement, nor any action, inaction, delay, failure to require performance or course of conduct shall operate as, or evidence, an amendment, supplement or waiver or
have any other effect on any Loan Document. Any waiver granted shall be limited to the specific circumstance expressly described in it, and shall not apply to any subsequent or other circumstance, whether similar or dissimilar, or give rise to,
or evidence, any obligation or commitment to grant any further waiver. The Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings,
representations, warranties, and negotiations between the parties about the subject matter of the Loan Documents merge into the Loan Documents. No amendment, waiver, or modification to any Loan Document (other than the Warrants), and no consent
to any departure therefrom, shall be effective unless made in accordance with the Intercreditor Agreement. 
 12.7
Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement.

 12.8 Survival. All covenants, representations and warranties made in this Agreement continue in full force until this
Agreement has terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) have been paid in full and
satisfied. The obligation of Borrower in Section 12.2 to indemnify Agent and the Lenders shall survive until the statute of limitations with respect to such claim or cause of action shall have run. 

  
 19 

 12.9 Confidentiality. In handling any confidential information, Agent and Lenders
shall exercise the same degree of care that it exercises for its own proprietary information, but disclosure of information may be made: (a) to Agent and Lenders’ Subsidiaries or Affiliates (such Subsidiaries and Affiliates, together with Agent
and Lenders, collectively, “Lender Entities”), provided that such Subsidiaries or Affiliates are also bound by the confidentiality provisions set forth in this Section 12.9; (b) to prospective transferees or purchasers of any
interest in the Credit Extensions (provided, however, each Lender shall use its best efforts to obtain any prospective transferee’s or purchaser’s agreement to the terms of this provision); (c) as required by law, regulation, subpoena, or
other order; (d) to Agent and Lenders’ regulators or as otherwise required in connection with Agent and Lenders’ examination or audit; (e) as Agent and Lenders consider appropriate in exercising remedies under the Loan Documents; and (f)
to third-party service providers of Agent and Lenders so long as such service providers have executed a confidentiality agreement with Agent and Lenders with terms no less restrictive than those contained herein. Confidential information does not
include information that is either: (i) in the public domain or in Agent and Lenders’ possession when disclosed to Agent and Lenders, or becomes part of the public domain (other than as a result of its disclosure by Agent and Lenders in
violation of this Agreement) after disclosure to Agent and Lenders; or (ii) disclosed to Agent and Lenders by a third party, if the Lender does not know that the third party is prohibited from disclosing the information. 

Lender Entities may use the confidential information for reporting purposes and the development and distribution of databases 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 this
Agreement. 
 12.10 Attorneys’ Fees, Costs and Expenses. In any action or proceeding between Borrower and Agent or
Lenders arising out of or relating to the Loan Documents, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in addition to any other relief to which it may be entitled. 

12.11 Electronic Execution of Documents. The words “execution,” “signed,” “signature” and words of
like import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity and enforceability as a manually executed signature or the use
of a paper-based recordkeeping systems, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act. 

12.12 Captions. The headings used in this Agreement are for convenience only and shall not affect the interpretation of
this Agreement. 
 12.13 Construction of Agreement. The parties mutually acknowledge that they and their attorneys have
participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist. 

12.14 Relationship. The relationship of the parties to this Agreement is determined solely by the provisions of this Agreement.
The parties do not intend to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties or incidents different from those of parties to an arm’s-length contract. 

12.15 Third Parties. Nothing in this Agreement, whether express or implied, is intended to: (a) confer any benefits, rights
or remedies under or by reason of this Agreement on any persons other than the express parties to it and their respective permitted successors and assigns; (b) relieve or discharge the obligation or liability of any person not an express party to
this Agreement; or (c) give any person not an express party to this Agreement any right of subrogation or action against any party to this Agreement. 

12.16 Intercreditor Agreement. Agent and each Lender understands, acknowledges, and agrees that it (and each of its
successors and assigns) and each other Lender (and each of their successors and assigns) shall be bound by the Intercreditor Agreement. Borrower, Agent and each Lender understand and agree that in the event of any conflict between this
Agreement and the Intercreditor Agreement, the Intercreditor Agreement shall govern. 

  
 20 

	 	13	DEFINITIONS 

 13.1 Definitions. As used in the Loan Documents, the
word “shall” is mandatory, the word “may” is permissive, the word “or” is not exclusive, the words “includes” and “including” are not limiting, the singular includes the plural, and numbers denoting
amounts that are set off in brackets are negative. As used in this Agreement, the following capitalized terms have the following meanings: 

“Account” is any “account” as defined in the Code with such additions to such term as may hereafter be made, and
includes, without limitation, all accounts receivable and other sums owing to Borrower. 
 “Account Debtor” is any
“account debtor” as defined in the Code with such additions to such term as may hereafter be made. 
 “Affiliate”
is, with respect to any Person, each other Person that owns or controls directly or indirectly the Person, any Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive
officers, directors, partners and, for any Person that is a limited liability company, that Person’s managers and members. 

“Agent” is defined in the preamble hereof. 

“Agreement” is defined in the preamble hereof. 

“Bookings” means, as of the date of determination, the actual cash value of new and renewal subscription, bookings, other
bookings and professional service bookings which, in the case of subscription bookings, includes the first (or, in the event of renewal, subsequent) twelve (12) months of subscription revenue, and for time-based professional services bookings
represents the first twelve (12) months of anticipated value of professional services revenue to be earned. 
 “Borrower”
is defined in the preamble hereof. 
 “Borrower’s Books” are all Borrower’s books and records including ledgers,
federal and state tax returns, records regarding Borrower’s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. 

“Borrowing Resolutions” are, with respect to any Person, those resolutions substantially in the form attached hereto as
Exhibit C. 
 “Business Day” is any day that is not a Saturday, Sunday or a day on which SVB is closed. 

“Cash” means (a) unrestricted cash, plus (b) Cash Equivalents plus (c) long term investments, in each case of (a)
through (c), maintained at SVB or SVB’s Affiliates subject to a Control Agreement. For the avoidance of doubt, the proceeds of (i) the Advances (as defined in the Senior Loan Agreement and the Term Loans (as defined in the Senior Loan Agreement
and (ii) the Term Loans are not excluded from qualifying as “Cash” in accordance with the definition above. 
 “Cash
Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition;
(b) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc.; (c) SVB’s certificates of deposit issued
maturing no more than one (1) year after issue; and (d) money market funds at least ninety-five percent (95%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition. 

“Co-Borrower” has the meaning given to such term in Section 6.11. 

  
 21 

 “Code” is the Uniform Commercial Code, as the same may, from time to time, be
enacted and in effect in the State of California; provided, that, to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code, the
definition of such term contained in Article or Division 9 shall govern; provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to,
Agent’s Lien on any Collateral is governed by the Uniform Commercial Code in effect in a jurisdiction other than the State of California, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such
other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions. 

“Collateral” is any and all properties, rights and assets of Borrower described on Exhibit A. 

“Collateral Account” is any Deposit Account, Securities Account, or Commodity Account. 

“Commitment Percentage” is set forth in Schedule 1, as amended from time to time, and shall reflect the actual
principal amounts advanced by each Lender. 
 “Commodity Account” is any “commodity account” as defined in the
Code with such additions to such term as may hereafter be made. 
 “Compliance Certificate” is that certain certificate in
the form attached hereto as Exhibit D. 
 “Contingent Obligation” is, for any Person, any direct or indirect
liability, contingent or not, of that Person for (a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation, in each case, directly or indirectly guaranteed, endorsed,
co-made, discounted or sold with recourse by that Person, or for which that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c)
all obligations from any interest rate, currency or commodity swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or
commodity prices; but “Contingent Obligation” does not include endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent
Obligation is made or, if not determinable, the maximum reasonably anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement.

 “Control Agreement” is any control agreement entered into among the depository institution at which Borrower maintains a
Deposit Account or the securities intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Agent pursuant to which Agent obtains control (within the meaning of the Code) over such
Deposit Account, Securities Account, or Commodity Account. 
 “Copyrights” are any and all copyright rights, copyright
applications, copyright registrations and like protections in each work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret. 

“Credit Extension” is each Term Loan or any other extension of credit by Lenders for Borrower’s benefit under the Loan
Documents. 
 “Default Rate” is defined in Section 2.3(b). 

“Deferred Revenue” is all amounts received or invoiced in advance of performance under contracts and not yet recognized as
revenue. 
 “Deposit Account” is any “deposit account” as defined in the Code with such additions to such term as
may hereafter be made. 

  
 22 

 “Designated Deposit Account” is Borrower’s deposit account, account number
XXX-XXX-5374, maintained with SVB. 
 “Dollars,” “dollars” or use of the sign
“$” means only lawful money of the United States and not any other currency, regardless of whether that currency uses the “$” sign to denote its currency or may be readily converted into lawful money of the United States.

 “Dollar Equivalent” is, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with
respect to any amount denominated in a Foreign Currency, the equivalent amount therefor in Dollars as determined by Agent at such time on the basis of the then-prevailing rate of exchange in San Francisco, California, for sales of the Foreign
Currency for transfer to the country issuing such Foreign Currency. 
 “Domestic Subsidiary” means a Subsidiary organized
under the laws of the United States or any state or territory thereof or the District of Columbia. 
 “Draw Period” means
the period of time from the Effective Date through April 20, 2017. 
 “Effective Date” is defined in the preamble hereof.

 “Equipment” is all “equipment” as defined in the Code with such additions to such term as may hereafter be
made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 

“ERISA” is the Employee Retirement Income Security Act of 1974, and its regulations. 

“Event of Default” is defined in Section 8. 

“Exchange Act” is the Securities Exchange Act of 1934, as amended. 

“Final Payment” is a payment (in addition to and not a substitution for the regular monthly payments of accrued interest)
with respect to the Term Loans due on the earliest to occur of (a) the Term Loan Maturity Date, (b) the acceleration of the Term Loans or (c) the prepayment of the Term Loans, equal to the original principal amount of the Term Loans made to Borrower
multiplied by two percent (2.00%). Notwithstanding the foregoing, should Borrower choose to prepay the Term Loans on or prior to April 20, 2017 with proceeds from a successfully completed initial public offering of its stock on a nationally
recognized trading exchange in which the Borrower raises at least Fifty Million Dollars ($50,000,000) in proceeds in connection with such offering, the Final Payment shall be reduced to one percent (1.00%) of the original principal amount of the
Term Loans. 
 “Foreign Currency” means lawful money of a country other than the United States. 

“Foreign Subsidiary” means any Subsidiary which is not a Domestic Subsidiary. 

“Funding Date” is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business
Day. 
 “GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant segment of
the accounting profession, which are applicable to the circumstances as of the date of determination. 
 “General
Intangibles” is all “general intangibles” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all Intellectual Property, claims, income
and other tax refunds, security and other deposits, payment intangibles, contract rights, options to purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise),
insurance policies (including without limitation key man, property damage, and business interruption insurance), payments of insurance and rights to payment of any kind. 

  
 23 

 “Governmental Approval” is any consent, authorization, approval, order, license,
franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

“Governmental Authority” is any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any
self-regulatory organization. 
 “Guarantor” is any Person that guarantees the obligations of Borrower hereunder. 

“Indebtedness” is (a) indebtedness for borrowed money or the deferred price of property or services, such as reimbursement
and other obligations (contingent or otherwise) for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations, and (d) Contingent Obligations with respect to
Indebtedness described in clauses (a) through (c). 
 “Indemnified Person” is defined in Section 12.2. 

“Initial Term Loan” is defined in Section 2.1.1(a). 

“Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any other
bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 

“Intellectual Property” means all of Borrower’s right, title, and interest in and to the following: 

(a) its Copyrights, Trademarks and Patents; 

(b) any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions, know-how, operating
manuals; 
 (c) any and all source code; 

(d) any and all design rights which may be available to a Borrower; 

(e) any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the right, but not the
obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and 

(f) all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents. 

“Intercreditor Agreement” is that certain Intercreditor Agreement, dated the date hereof, between the Agent and the Lenders
and acknowledged by the Borrower. 
 “Interest Expense” means for any fiscal period, interest expense (whether cash or
non-cash) determined in accordance with GAAP for the relevant period ending on such date, including, in any event, interest expense with respect to any Credit Extension and other Indebtedness of Borrower and its Subsidiaries, including, without
limitation or duplication, all commissions, discounts, or related amortization and other fees and charges with respect to letters of credit and Bankers’ acceptance financing and the net costs associated with interest rate swap, cap, and similar
arrangements, and the interest portion of any deferred payment obligation (including leases of all types). 

  
 24 

 “Inventory” is all “inventory” as defined in the Code in effect on the
date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without
limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 

“Investment” is any beneficial ownership interest in any Person (including stock, partnership interest or other securities),
and any loan, advance or capital contribution to any Person. 
 “IP Agreement” is that certain Intellectual Property
Security Agreement executed and delivered by Borrower to Agent, for the benefit of the Lenders, dated as the Effective Date. 
 “IP
Default” means an Event of Default under Section 8.1, 8.2(a), 8.3, 8.4, 8.5, 8.6 or 8.7 hereof. 
 “Lender” and
“Lenders” is defined in the preamble hereof. 
 “Lender Entities” is defined in Section 12.9. 

“Lender Expenses” are all audit fees and expenses, costs, and expenses (including reasonable attorneys’ fees and
expenses) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred with respect to
Borrower or any Guarantor. 
 “Lien” is a claim, mortgage, deed of trust, levy, charge, pledge, security interest or other
encumbrance of any kind, whether voluntarily incurred or arising by operation of law or otherwise against any property. 
 “Loan
Documents” are, collectively, this Agreement and any other agreement entered into in connection with the transactions contemplated by this Agreement, including, the Perfection Certificate, the IP Agreement, the SVB Control Agreement, any
subordination agreement, any note, or notes or guaranties executed by Borrower or any Guarantor, and any other present or future agreement entered into by Borrower or any Guarantor and/or for the benefit of Agent or Lenders, all as amended,
restated, or otherwise modified. Notwithstanding anything in this Agreement, the term “Loan Documents” shall not include (i) any warrants, other equity securities, in each case issued to any Lender or (ii) any Senior Loan Documents. 

“Loan Parties” means the Borrower, any Co-Borrower and any Guarantor. 

“Material Adverse Change” is (a) a material impairment in the perfection or priority of Agent’s Lien in the Collateral
or in the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower; or (c) a material impairment of the prospect of repayment of any portion of the Obligations. 

“Monthly Financial Statements” is defined in Section 6.2(a). 

“Obligations” are Borrower’s obligations to pay when due any debts, principal, interest, fees, Lender Expenses, the
Prepayment Fee, the Final Payment, and other amounts Borrower owes Agent or any Lender now or later, under this Agreement and the other Loan Documents (including interest accruing thereto after Insolvency Proceedings begin) and any amounts owing to
SVB in connection with the provision of Bank Services (as defined in and permitted under the Intercreditor Agreement). Notwithstanding anything in this Agreement, the term “Obligations” shall not include (i) any obligations of Borrower
with respect to any warrants, other equity securities, in each case issued to a Lender, (ii) any agreement governing the rights of a Lender with respect to such warrants or other equity securities or (iii) any obligations under any Senior Loan
Documents. 
 “Operating Documents” are, for any Person, such Person’s formation documents, as certified with the
Secretary of State of such Person’s state of formation on a date that is no earlier than 30 days prior to the Effective Date, and, (a) if such Person is a corporation, its bylaws in current form, (b) if such Person is a limited liability

  
 25 

 
company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing with all
current amendments or modifications thereto. 
 “Patents” means all patents, patent applications and like protections
including without limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 

“Payment/Advance Form” is that certain form attached hereto as Exhibit B. 

“Payment Date” is the first (1st) calendar day of each month. 

“Perfection Certificate” is defined in Section 5.1. 

“Permitted Acquisition” means any acquisition(s), including the creation and capitalization of any Subsidiary in connection
with such acquisition, in which: (a) Borrower’s board of directors has approved; (b) the Person so acquired is in the same or a similar line of business or a business reasonably related thereto; (c) Borrower is the sole surviving legal entity
or any acquired Subsidiary is directly or indirectly owned by Borrower; (d) either (i) immediately after giving effect to such acquisition, Cash is greater than or equal to Twenty Five Million Dollars ($25,000,000) or (ii) total cash consideration
for all acquisitions does not exceed Ten Million Dollars ($10,000,000) in the aggregate in any fiscal year, (e) the acquisition is not a hostile acquisition; (f) no Event of Default shall have occurred and be continuing either before consummation of
such acquisition or after consummation of such acquisition (including compliance with all financial covenants on a Pro Forma Basis); and (g) immediately after giving effect to such acquisition, Borrower can demonstrate compliance on a Pro Forma
Basis with the covenants set forth in Section 6.7 hereof. 
 “Permitted Indebtedness” is: 

(a) Indebtedness to Lenders under this Agreement and the other Loan Documents; 

(b) Indebtedness to SVB under the Senior Loan Documents and any Indebtedness to SVB arising in connection with any Bank Services (as defined
in the Intercreditor Agreement), to the extent permitted under the Subordination Agreement or Intercreditor Agreement, as applicable; 
 (c)
Indebtedness existing on the Effective Date and shown on the Perfection Certificate; 
 (d) Subordinated Debt; 

(e) unsecured Indebtedness to trade creditors incurred in the ordinary course of business; 

(f) Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; 

(g) Indebtedness consisting of capitalized leases of any Person outstanding prior to the date on which such Person becomes a Subsidiary (in a
transaction otherwise permitted hereunder) or is merged or consolidated with or into Borrower or any Subsidiary and , in each case, not created in contemplation of or in connection with such event; 

(h) Indebtedness secured by Liens permitted under clauses (a), (c) and (k) of the definition of “Permitted Liens” hereunder; 

(i) Indebtedness that constitutes also constitutes an Investment that is Permitted under clause (h) of the definition of Permitted
Investments; 
 (j) other unsecured Indebtedness in an aggregate amount not to exceed One Million Dollars ($1,000,000) at any time; and 

(k) extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (h) above,
provided that the principal amount thereof is not increased except by an amount equal to a reasonable premium and other fees and expenses reasonably incurred, and the terms thereof are not modified to impose materially more burdensome terms upon
Borrower or its Subsidiary, as the case may be; provided that if any such debt being extended, refinanced, modified, or amended and restated, constitutes Subordinated Debt then any such replacement indebtedness shall also be Subordinated Debt. 

  
 26 

 “Permitted Investments” are: 

(a) Investments (including, without limitation, Subsidiaries) existing on the Effective Date and shown on the Perfection Certificate and; 

(b) (i) Investments consisting of Cash Equivalents, and (ii) any Investments permitted by Borrower’s investment policy, as amended from
time to time, provided that such investment policy (and any such amendment thereto) has been approved in writing by Agent; 
 (c)
Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of Borrower; 

(d) Investments consisting of deposit accounts in which Agent has a perfected security interest; 

(e) Investments accepted in connection with Transfers permitted by Section 7.1 and Permitted Acquisitions; 

(f) Investments consisting of (i) travel advances and employee relocation loans and other employee loans and advances in the ordinary course
of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements approved by Borrower’s Board of Directors;

 (g) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and
in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 

(h) Investments in Subsidiaries in an amount not to exceed (i) One Million Dollars ($1,000,000) in the aggregate in any month (or such other
amount as agreed to between Borrower and Agent) or (ii) Ten Million Dollars ($10,000,000) in the aggregate in any calendar year (or such other amount as agreed to between Borrower and Agent); 

(i) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not
Affiliates, in the ordinary course of business; provided that this paragraph (i) shall not apply to Investments of Borrower in any Subsidiary; and 

(j) Other Investments in an aggregate amount not to exceed One Million Dollars ($1,000,000) in any fiscal year. 

“Permitted Liens” are: 

(a) Liens (i) existing on the Effective Date and shown on the Perfection Certificate, (ii) arising under this Agreement and the other Loan
Documents or (iii) securing Bank Services (as defined in the Intercreditor Agreement) to the extent permitted under the Intercreditor Agreement; 

(b) Liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or (ii) being contested in good
faith and for which Borrower maintains adequate reserves on its Books, provided that no notice of any such Lien has been filed or recorded under the Internal Revenue Code of 1986, as amended, and the Treasury Regulations adopted thereunder;

  
 27 

 (c) purchase money Liens (i) on Equipment acquired or held by Borrower incurred for financing the
acquisition of the Equipment securing no more than Five Hundred Thousand Dollars ($500,000) in the aggregate amount outstanding, or (ii) existing on Equipment when acquired, if the Lien is confined to the property and improvements and the
proceeds of the Equipment; 
 (d) Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in nature arising in the
ordinary course of business so long as such Liens secure liabilities in the aggregate amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000) and which are not delinquent or remain payable without penalty or which are being
contested in good faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto; 

(e) Liens to secure payment of workers’ compensation, employment insurance, old-age pensions, social security and other like obligations
incurred in the ordinary course of business (other than Liens imposed by ERISA) and deposits and/or rights of setoff to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal
bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 
 (f) Liens incurred in the
extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (c), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of
the indebtedness may not increase except by an amount equal to a reasonable premium and other fees and expenses reasonably incurred; 
 (g)
leases or subleases of real property granted in the ordinary course of Borrower’s business (or, if referring to another Person, in the ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or sublicenses
of personal property (other than Intellectual Property) granted in the ordinary course of Borrower’s business (or, if referring to another Person, in the ordinary course of such Person’s business), if the leases, subleases, licenses
and sublicenses do not prohibit granting Agent a security interest therein; 
 (h) non-exclusive license of Intellectual Property granted to
third parties in the ordinary course of business, and licenses of Intellectual Property that could not result in a legal transfer of title of the licensed property that may be exclusive in respects other than territory and that may be exclusive as
to territory only as to discreet geographical areas outside of the United States; 
 (i) Liens arising from attachments or judgments,
orders, or decrees in circumstances not constituting an Event of Default under Sections 8.4 and 8.7; 
 (j) Subject to Section 6.6 hereof,
Liens in favor of other financial institutions arising in connection with Borrower’s securities accounts held at such institutions, provided that Agent has a perfected security interest in the amounts held in such deposit and/or securities
accounts if required pursuant to Section 6.6; 
 (k) Liens on the Collateral securing Subordinated Debt; 

(l) Liens in favor of SVB issued in connection with the Senior Loan Documents; 

(m) Liens securing Indebtedness described in clause (g) of the definition of Permitted Indebtedness, provided that such lien only extends to
the property acquired under such capital lease; and 
 (n) Liens securing liabilities not to exceed Two Hundred Fifty Thousand Dollars
($250,000) at any time. 

  
 28 

 “Person” is any individual, sole proprietorship, partnership, limited liability
company, joint venture, company, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 

“Prepayment Fee” is an additional fee payable to Agent, for the ratable benefit of Lenders, in an amount equal to, for a
prepayment of the Term Loans made (a) on or prior to the date that is two (2) years from the Effective Date, two percent (2.00%) of the original principal amount of the Term Loans or (b) after the date that is two (2) years from the Effective Date
but on or prior to the Term Loan Maturity Date, one percent (1.00%) of the original principal amount of the Term Loans. Notwithstanding the foregoing, should Borrower choose to prepay the Term Loans on or prior to April 20, 2017 with proceeds from a
successfully completed initial public offering of its stock on a nationally recognized trading exchange in which the Borrower raises at least Fifty Million Dollars ($50,000,000) in net cash proceeds in connection with such offering, the Prepayment
Fee shall be one percent (1.00%) of the original principal amount the Term Loans. 
 “Pro Forma Basis” with respect to any
calculation or determination for the Borrower for any period, in making such calculation or determination on the specified date of determination (the “Determination Date”): 

(a) pro forma effect will be given to any Indebtedness incurred by the Borrower or any of its Subsidiaries (including by assumption of then
outstanding Indebtedness or by a Person becoming a Subsidiary (“Incurred”) after the beginning of the applicable period and on or before the Determination Date to the extent the Indebtedness is outstanding or is to be Incurred on the
Determination Date, as if such Indebtedness had been Incurred on the first day of such period; 
 (b) pro forma calculations of interest on
Indebtedness bearing a floating interest rate will be made as if the rate in effect on the Determination Date (taking into account any interest rate swap agreement, interest rate cap or collar agreement or other arrangement designed to protect a
Person against fluctuations in interest rates, applicable to the Indebtedness) had been the applicable rate for the entire period; 
 (c)
Interest Expense and scheduled principal payments related to any Indebtedness no longer outstanding or to be repaid or redeemed on the Determination Date, except for Interest Expense accrued during the period under a revolving credit to the extent
that the related commitment thereunder is not permanently reduced in a corresponding amount on the Determination Date, will be excluded as if such Indebtedness was no longer outstanding or was repaid or redeemed on the first day of such period; 

(d) pro forma effect will be given to: (A) the acquisition or disposition of companies, divisions or lines of businesses by the Borrower and
its Subsidiaries, including any acquisition or disposition of a company, division or line of business since the beginning of the reference period by a Person that became a Subsidiary after the beginning of the applicable period; and (B) the
discontinuation of any discontinued operations but, in the case of Interest Expense and scheduled principal payments of Indebtedness, only to the extent that the obligations giving rise to such Interest Expense and scheduled principal payments of
Indebtedness will not be obligations of the Borrower or any of its Subsidiaries following the Determination Date; in each case of clauses (A) and (B), that have occurred since the beginning of the applicable period and before the Determination Date
as if such events had occurred, and, in the case of any disposition, the proceeds thereof applied, on the first day of such period. To the extent that pro forma effect is to be given to an acquisition or disposition of a company, division or line of
business, the pro forma calculation will be calculated in good faith by a responsible financial or accounting officer of the Borrower (x) in accordance with Regulation S-X under the Securities Act of 1933, as amended, based upon the most recent four
full fiscal quarters for which the relevant financial information is available or (y) in such other manner reasonably acceptable to Agent, as if any such acquisition or disposition occurred on the first day of such period and by giving effect to
reasonably expected savings in operating expenses relating to cost savings and synergies as if such cost savings and synergies had occurred on the first day of such period. 

“Registered Organization” is any “registered organization” as defined in the Code with such additions to such term
as may hereafter be made. 
 “Requirement of Law” is as to any Person, the organizational or governing documents of such
Person, and any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person
or any of its property is subject. 

  
 29 

 “Responsible Officer” is any of the Chief Executive Officer, President, Chief
Financial Officer and Controller of Borrower. 
 “Restricted License” is any material license or other agreement with
respect to which Borrower is the licensee (a) that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or agreement or any other property, or (b) for which a default under
or termination of could reasonably be expected to have a material adverse effect on Borrower’s business. 
 “SEC”
shall mean the Securities and Exchange Commission, any successor thereto, and any analogous Governmental Authority. 
 “Securities
Account” is any “securities account” as defined in the Code with such additions to such term as may hereafter be made. 

“Senior Loan Agreement” means that certain Amended and Restated Loan and Security Agreement by and between SVB and Borrower
dated as of June 16, 2015. 
 “Senior Loan Documents” means the “Loan Documents” as such term is defined the
Senior Loan Agreement. 
 “Subordinated Debt” is indebtedness incurred by Borrower subordinated to all of Borrower’s
now or hereafter indebtedness to Lenders (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Agent and Lenders entered into among Agent, Lenders and the other creditor), on terms acceptable
to Lenders. 
 “Subsidiary” is, as to any Person, a corporation, partnership, limited liability company or other entity of
which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or
other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless the context
otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower. Notwithstanding the foregoing, Borrower’s non-profit subsidiary, TECHNOLOGY BUSINESS MANAGEMENT COUNCIL, LTD., a Delaware non-stock
corporation, shall not be deemed a “Subsidiary” for purposes of this definition or the Agreement. 
 “SVB Control
Agreement” is that certain Securities Account Control Agreement by and among SVB Asset Management, U.S. Bank, N.A., Borrower and Agent of even date herewith. 

“Term Loan” is defined in Section 2.1.1(a). 

“Term Loan Maturity Date” is April 20, 2019. 

“Trademarks” means any trademark and servicemark rights, whether registered or not, applications to register and
registrations of the same and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 

“Transfer” is defined in Section 7.1. 

“Unused Fee” is defined in Section 2.4(b) hereof. 

  
 30 

 “Warrants” are (a) that certain Warrant to Purchase Stock dated as of the
Effective Date between Borrower and SVB and (b) that certain Warrant to Purchase Stock dated as of the Effective between Borrower and ORIX. 

[Signature page follows.] 

  
 31 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
Effective Date. 
  

			
	BORROWER:
	
	APPTIO, INC.
		
	By	 	 /s/ Kurt Shintaffer

	Name:	 	 Kurt Shintaffer

	Title:	 	 CFO

	
	AGENT:
	
	SILICON VALLEY BANK
		
	By	 	 /s/ Jayson Davis

	Name:	 	 Jayson Davis

	Title:	 	 Director

	
	LENDERS
	
	SILICON VALLEY BANK
		
	By	 	 /s/ Jayson Davis

	Name:	 	 Jayson Davis

	Title:	 	 Director

	
	ORIX VENTURES, LLC
		
	By	 	 /s/ Mark Campbell

	Name:	 	 Mark Campbell

	Title:	 	 Authorized Representative

  
 [Signature
page to Subordinated Loan and Security Agreement] 

 Schedule 1 

LENDERS AND COMMITMENTS 
  

									
	 Lender
	  	Commitment	 	  	Commitment Percentage	 
	 Silicon Valley Bank
	  	$	10,000,000.00	  	  	 	50.00	% 
	 ORIX Ventures, LLC
	  	$	10,000,000.00	  	  	 	50.00	% 
		  	  
	  
	 	  	  
	  
	 
	 Total
	  	$	20,000,000.00	  	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

  
 1 

 EXHIBIT A – COLLATERAL DESCRIPTION 

The Collateral consists of all of Borrower’s right, title and interest in and to the following personal property: 

All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license
agreements, franchise agreements, General Intangibles (except as provided below), commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures,
letters of credit rights (whether or not the letter of credit is evidenced by a writing), securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and all
Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and
insurance proceeds of any or all of the foregoing. 
 Notwithstanding the foregoing, the Collateral does not include (i) more than 65% of
the presently existing and hereafter arising issued and outstanding shares of capital stock owned by Borrower of any Foreign Subsidiary which shares entitle the holder thereof to vote for directors or any other matter, (ii) any interest of Borrower
as a lessee under an Equipment lease if Borrower is prohibited by the terms of such lease from granting a security interest in such lease or under which such an assignment or Lien would cause a default to occur under such lease; provided, however,
that upon termination of such prohibition, such interest shall immediately become Collateral without any action by Borrower or Agent or (iii) any Intellectual Property unless or until an IP Default has occurred, at which point such security interest
shall become effective immediately without any further action by any Person; provided , however, that at all times (whether before or after the security interest in Intellectual Property has become effective) the Collateral shall include all
Accounts and all proceeds of Intellectual Property (whether acquired upon the sale, lease, license, exchange or other disposition of such Intellectual Property, and whatever is collected on, or distributed on account of, the Intellectual Property,)
and all other rights arising out of Intellectual Property . If a judicial authority (including a U.S. Bankruptcy Court) would hold that a security interest in the underlying Intellectual Property is necessary to have a security interest in such
Accounts and such property that are proceeds of Intellectual Property, then the Collateral shall automatically, and effective as of the Effective Date, include the Intellectual Property to the extent necessary to permit perfection of Agent’s
security interest in such Accounts and such other property of Borrower that are proceeds of the Intellectual Property. 

  
 1 

 EXHIBIT B – LOAN PAYMENT/ADVANCE REQUEST FORM 

DEADLINE FOR SAME DAY PROCESSING IS
NOON PACIFIC TIME 
  

							
	Fax To:	  	Date:	 	  
	 	

 

 LOAN PAYMENT: 

APPTIO, INC. 
  

									
	  From Account #	 	  
	 		 	To Account #	 	  

		 	(Deposit Account #)	 		 		 	 (Loan Account #)

 

									
	  Principal $	 	  
	 		 	and/or Interest $	 	  

 

									
	  Authorized Signature:	 	  
	 		 	Phone Number:	 	  

									
	  Print Name/Title:	 	  
	 		  		 	
	     	 		 		  		 	

 
  

  TERM LOAN: 

  Complete Outgoing Wire Request section below if all or a portion of the funds from this Term Loan are for an outgoing wire. 

 

									
	  From Account #	 	  
	 		 	To Account #	 	  

		 	(Loan Account #)	 		 		 	(Deposit Account #)

									
					
	  Amount of Term Loan $	 	  
	 		 		 	

 All Borrower’s
representations and warranties in the Subordinated Loan and Security Agreement are true, correct and complete in all material respects on the date of the request for a Term Loan; provided, however, that such materiality qualifier shall not be
applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true,
accurate and complete in all material respects as of such date: 
  

											
	  Authorized Signature:	 	  
	 		 		 	Phone Number:	 	  

	  Print Name/Title:	 	  
	 		 		 		 	
	     	 		 		 		 		 	

 
  

  OUTGOING WIRE REQUEST: 

  Complete only if all or a portion of funds from the Term Loan above is to be wired. 

  Deadline for same day processing is noon, Pacific Time 
  

									
	  Beneficiary Name:	 	  
	 		 	Amount of Wire: $	 	  

	  Beneficiary Bank:	 	  
	 		 	Account Number:	 	  

	  City and State:	 	  
	 		 		 	

  

									
	  Beneficiary Bank Transit (ABA) #:	 	  
	 		 	Beneficiary Bank Code (Swift, Sort, Chip, etc.):	 	  

		 		 		 	(For International Wire Only)	 	

  

											
	  Intermediary Bank:	 	  
	 		 		 	Transit (ABA) #:	 	  

	  For Further Credit to:	 	  

 

			
	  Special Instruction:	 	  

By signing below, I (we) acknowledge and agree that my (our) funds transfer request shall be processed
in accordance with and subject to the terms and conditions set forth in the agreements(s) covering funds transfer service(s), which agreements(s) were previously received and executed by me (us). 

 

									
	  Authorized Signature:	 	  
	 		 	2nd Signature (if required):	 	  

	  Print Name/Title:	 	  
	 		 	Print Name/Title:	 	  

	  Telephone #:	 	  
	 		 	Telephone #:	 	  

	     	 		 		 		 	

 

  
 1 

 EXHIBIT C 

BORROWING RESOLUTIONS 
  

 
 

 
 CORPORATE BORROWING CERTIFICATE 

 

					
	BORROWER:	 	 Apptio, Inc.
	 	 DATE: April 20, 2016

	LENDERS:	 	Silicon Valley Bank, as Agent, on behalf of the Lenders	 	

 I hereby certify as follows, as of the date set forth above: 

1. I am the Secretary, Assistant Secretary or other officer of the Borrower. My title is as set forth below. 

2. Borrower’s exact legal name is set forth above. Borrower is a corporation existing under the laws of the State of Delaware. 

3. Attached hereto are true, correct and complete copies of Borrower’s Certificate of Incorporation (including amendments), as filed with the Secretary
of State of the state in which Borrower is incorporated as set forth in paragraph 2 above. Such Certificate of Incorporation have not been amended, annulled, rescinded, revoked or supplemented, and remain in full force and effect as of the date
hereof. 
 4. The following resolutions were duly and validly adopted by Borrower’s Board of Directors at a duly held meeting of such directors (or
pursuant to a unanimous written consent or other authorized corporate action). Such resolutions are in full force and effect as of the date hereof and have not been in any way modified, repealed, rescinded, amended or revoked, and Lenders may rely
on them until Lenders receives written notice of revocation from Borrower. 
 RESOLVED, that any one
of the following officers or employees of Borrower, whose names, titles and signatures are below, may act on behalf of Borrower: 
  

							
	 Name
	  	 Title
	  	 Signature
	  	
Authorized to
Add or Remove
Signatories

				
	 Sachin Gupta
	  	 CEO
	  	 /s/ Sachin Gupta
	  	x
				
	 Kurt Shintaffer
	  	 CFO
	  	 /s/ Kurt Shintaffer
	  	x
				
	 Donavon Hall
	  	 Senior Director and Controller
	  	 /s/ Donavon Hall
	  	 ̈
				
	  
	  	  
	  	  
	  	 ̈

 RESOLVED FURTHER, that any one of the persons designated above with
a checked box beside his or her name may, from time to time, add or remove any individuals to and from the above list of persons authorized to act on behalf of Borrower. 

RESOLVED FURTHER, that such individuals may, on behalf of Borrower: 

Borrow Money. Borrow money from Lenders. 

Execute Loan Documents. Execute any loan documents Lenders require. 

Grant Security. Grant SVB, as Agent for the Lenders, a security interest in any of Borrower’s assets. 

Negotiate Items. Negotiate or discount all drafts, trade acceptances, promissory notes, or other indebtedness in which Borrower has
an interest and receive cash or otherwise use the proceeds. 
 Issue Warrants. Issue warrants for Borrower’s capital stock. 

  
 1 

 Further Acts. Designate other individuals to request advances, pay fees and costs and
execute other documents or agreements (including documents or agreement that waive Borrower’s right to a jury trial) they believe to be necessary to effectuate such resolutions. 

RESOLVED FURTHER, that all acts authorized by the above resolutions and any
prior acts relating thereto are ratified. 
 5. The persons listed above are Borrower’s officers or employees with their titles and signatures
shown next to their names. 
  

			
	APPTIO, INC.
		
	By:	 	 /s/ John Morrow

	Name:	 	 John Morrow

	Title:	 	 EVP and Secretary

 *** If the Secretary, Assistant Secretary or other certifying officer executing above is designated
by the resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be signed by a second authorized officer or director of Borrower. 

I, the                      of Borrower,
hereby certify as to paragraphs 1 through 5 above, as of the date set forth above. 

           [print title] 

 

			
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 2 

 EXHIBIT D 

COMPLIANCE CERTIFICATE 
  

					
	TO: SILICON VALLEY BANK, as Agent	  	DATE:	 	
	FROM: APPTIO, INC.	  		 	

 The undersigned authorized officer of APPTIO, INC. (“Borrower”) certifies that under the
terms and conditions of the Subordinated Loan and Security Agreement between SILICON VALLEY BANK, a California corporation (“SVB”; and in its capacity as Administrative Agent, the “Agent”), (b) SVB, ORIX
VENTURES, LLC, a Delaware limited liability company (“ORIX”) and any other Lenders listed on Schedule 1 hereto and otherwise party hereto from time to time (each a “Lender”, and collectively the
“Lenders”), (the “Agreement”): 
 (1) Borrower is in complete compliance for the period ending
                     with all required covenants except as noted below; (2) there are no Events of Default; (3) all representations and
warranties in the Agreement are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified
or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; (4) Borrower,
and each of its Subsidiaries, has timely filed all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except as otherwise permitted
pursuant to the terms of Section 5.9 of the Agreement; and (5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits of which Borrower has not previously provided
written notification to Agent. 
 Attached are the required documents supporting the certification. The undersigned certifies that
these are prepared in accordance with GAAP consistently applied from one period to the next except (i) as explained in an accompanying letter or footnotes and (ii) with respect to unaudited financial statements, for the absence of
footnotes an subject to year-end adjustments. The undersigned acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms
of the Agreement, and that compliance is determined not just at the date this certificate is delivered. Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement. 

Please indicate compliance status by circling Yes/No under “Complies” column. 

 

					
	 Reporting Covenant
	  	 Required
	  	 Complies

			
	Monthly Financial Statements with Compliance Certificate	  	Monthly within 30 days	  	Yes  No
	Annual financial statement (CPA Audited) + CC	  	FYE within 180 days	  	Yes  No
	10-Q, 10-K and 8-K	  	Within 5 days after filing with SEC	  	Yes  No
	A/R & A/P Agings and Deferred Revenue Report	  	Quarterly within 30 days if Borrower’s Cash is less than $25,000,000	  	Yes  No
	Board Approved Projections	  	Annually within 60 days of fiscal year end for the following fiscal year	  	Yes  No
	409(A) Valuation Report	  	Within 30 days of completion	  	Yes  No

											
	 Financial Covenant
	  	Required	 	  	Actual	 	  	 Complies

				
	 Maintain on a Monthly Basis (only if not complying with minimum Cash covenant):
	  				  				  	
				
	 Minimum Bookings
	  	 	75% of plan	  	  				  	Yes  No
				
	 Lowest balance of cash during applicable measuring period
	  	$	25,000,000	  	  	$	            	  	  	Yes  No

 The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and
accurate as of the date of this Certificate. 
 The following are the exceptions with respect to the certification above: (If no exceptions
exist, state “No exceptions to note.”) 
  
  

 
  
  

 

 

			
	APPTIO, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 

			
	BANK USE ONLY
		
	Received by:	 	  

		 	AUTHORIZED SIGNER
		
	Date:	 	  

		
	Verified:	 	  

		 	AUTHORIZED SIGNER
		
	Date:	 	  

	
	 Compliance
Status:        Yes        No

 
 

 Schedule 1 to Compliance Certificate 

Financial Covenants of Borrower 

In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. 

 

			
	Dated:	 	 

  

	I.	Performance to Plan (Section 6.7(a)) 

 If Borrower’s and its Subsidiaries Cash is less than Twenty
Five Million Dollars ($25,000,000) as of the last day of the applicable monthly measuring period, Borrower shall maintain the following financial covenant as of the last day of the month: 

Performance to Plan. Bookings, measured on a trailing six (6) month basis, based on Borrower’s annual business plan (as delivered to Agent
and the Lenders in accordance with Section 6.2(d) and as approved in writing by Agent in its reasonable business judgment), of not less than seventy-five percent (75%) of Bookings for each period ending as of the last day of each fiscal quarter of
Borrower; provided, further, that for the periods ending as of the last day of January and February of each year, prior to the delivery of Borrower’s annual business plan pursuant to Section 6.2(d), required Bookings for such months shall be
based upon the prior year actual Bookings for such months in lieu of a forecasted amount for such months in which no annual financial projections have been delivered pursuant to Section 6.2(d) prior to the end of such months. For example, for
January 2017, this covenant would be calculated using the actual Bookings for the months August through December 2016 (5 months) plus actual Bookings for the month of January 2016. 

Bookings requirements for Borrower’s 2017 fiscal year and thereafter, shall be set forth in, and based upon, Borrower’s annual business plan
delivered to Agent and the Lenders in accordance with Section 6.2(d) with such bookings requirements determined pursuant to the first paragraph of Section 6.7(a). Notwithstanding the foregoing, such annual business plan and Bookings requirements
must be approved in writing by Agent in its reasonable business judgment by March 31st of the applicable year. 
  

			
	       No, not in compliance	  	       Yes, in complianceWarrant to purchase Series A Convertible Preferred Stock

 Exhibit 10.4 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES
LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE
OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 

WARRANT TO PURCHASE STOCK 
  

			
	 Company:
	  	APPTIO, INC., a Delaware corporation
	 Number of Shares:
	  	27,321 (Subject to Article 1.7 and Article 2)
	 Class of Stock:
	  	Series A Preferred Stock
	 Warrant Price:
	  	$1.37255 per share
	 Issue Date:
	  	October 31, 2008
	 Expiration Date:
	  	The 10th anniversary of the Issue Date
	 Credit Facility:
	  	This Warrant is issued in connection with that certain Loan and Security Agreement between Company and Silicon Valley Bank dated October     , 2008 (the “Loan Agreement”)

 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, SILICON VALLEY BANK (Silicon Valley Bank,
together with any registered holder from time to time of this Warrant or any holder of the shares issuable or issued upon exercise of this Warrant, “Holder”) is entitled to purchase the number of fully paid and nonassessable shares of the
class of securities (the “Shares”) of the Company at the Warrant Price, all as set forth above and as adjusted pursuant to Article 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant.

 ARTICLE 1. EXERCISE. 
 1.1 Method
of Exercise. Holder may exercise this Warrant by delivering a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth in
Article 1.2, Holder shall also deliver to the Company a check, wire transfer (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. 

1.2 Conversion Right. In lieu of exercising this Warrant as specified in Article 1.1, Holder may from time to time convert this
Warrant, in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares or other securities otherwise issuable upon exercise of this Warrant minus the aggregate Warrant Price of such Shares
by (b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Article 1.3. 

  
 1 

 1.3 Fair Market Value. If the Company’s common stock is traded in a public market and
the Shares are common stock, the fair market value of each Share shall be the closing price of a Share reported for the business day immediately before Holder delivers its Notice of Exercise to the Company (or in the instance where the Warrant is
exercised in connection with the Company’s initial public offering, the “price to public” per share price specified in the final prospectus relating to such offering). If the Company’s common stock is traded in a public market
and the Shares are preferred stock, the fair market value of a Share shall be the closing price of a share of the Company’s common stock reported for the business day immediately before Holder delivers its Notice of Exercise to the Company (or,
in the instance where the Warrant is exercised in connection with the Company’s initial public offering, the initial “price to public” per share price specified in the final prospectus relating to such offering), in both cases,
multiplied by the number of shares of the Company’s common stock into which a Share is convertible. If the Company’s common stock is not traded in a public market, the Board of Directors of the Company shall determine fair market value in
its reasonable good faith judgment. 
 1.4 Delivery of Certificate and New Warrant. Promptly after Holder exercises or converts this
Warrant and, if applicable, the Company receives payment of the aggregate Warrant Price, the Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has not been fully exercised or converted and has not expired, a
new Warrant representing the Shares not so acquired. 
 1.5 Replacement of Warrants. On receipt of evidence reasonably satisfactory
to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of
mutilation on surrender and cancellation of this Warrant, the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor. 

1.6 Treatment of Warrant Upon Acquisition of Company. 

1.6.1 “Acquisition”. For the purpose of this Warrant, “Acquisition” means any sale, license, or other disposition
of all or substantially all of the assets of the Company, or any reorganization, consolidation, or merger of the Company where Holders of the Company’s securities before the transaction beneficially own less than 50% of the outstanding voting
securities of the surviving entity after the transaction. 
 1.6.2 Treatment of Warrant at Acquisition. 

A) Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that is not an asset sale and in which the sole consideration
is cash, either (a) Holder shall exercise fully its conversion or purchase right under this Warrant and such exercise will be deemed effective immediately prior to the consummation of such Acquisition or (b) if Holder elects not to
exercise the Warrant, this Warrant will expire upon the consummation of such Acquisition. The Company shall provide Holder with written notice of its request relating to the foregoing (together with such reasonable information as Holder may request
in connection with such contemplated Acquisition giving rise to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 

B) Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that is an “arms length” sale of all or substantially
all of the Company’s assets (and only its assets) to a third party that is not an Affiliate (as defined below) of the Company (a “True Asset Sale”), either (a) Holder shall exercise fully its conversion or purchase right under
this Warrant and such exercise will be deemed effective immediately prior to the consummation of 

  
 2 

 
such Acquisition or (b) if Holder elects not to exercise the Warrant, this Warrant will continue until the Expiration Date if the Company continues as a going concern following the closing
of any such True Asset Sale. The Company shall provide Holder with written notice of its request relating to the foregoing (together with such reasonable information as Holder may request in connection with such contemplated Acquisition giving rise
to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 
 C) Upon the
written request of the Company, Holder agrees that, in the event of a stock for stock Acquisition of the Company by a publicly traded acquirer if, on the record date for the Acquisition, the fair market value of the Shares (or other securities
issuable upon exercise of this Warrant) is equal to or greater than five (5) times the Warrant Price, Company may require the Warrant to be deemed automatically exercised and the Holder shall participate in the Acquisition as a holder of the
Shares (or other securities issuable upon exercise of the Warrant) on the same terms as other holders of the same class of securities of the Company. 
 (D)
Upon the closing of any Acquisition other than those particularly described in subsections (A), (B) and (C) above, the successor entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable for the same
securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing. The Warrant Price
and/or number of Shares shall be adjusted accordingly. 
 As used herein, an “Affiliate” of any person or entity means any other person or entity
that owns or controls, directly or indirectly, ten (10) percent or more of the stock or equity interest in such person or entity, any other person or entity that controls or is controlled by or is under common control with such person or
entity, and each of such person’s or such entity’s officers, directors, joint venturers or partners, as applicable. 
 1.7
Adjustments to Number of Shares for Term Advances Made. If, during the Draw Period (as defined in the Loan Agreement), the Company requests and receives one or more Term Advances (as defined in the Loan Agreement), the Number of Shares
subject to this Warrant shall be automatically adjusted to equal (i) 27,321 plus (ii) the number obtained by dividing one and one quarter percent (1.25%) of the aggregate dollar amount of the Term Advance(s) by the Warrant Price then
in effect, rounded down to the nearest whole share; provided that the maximum number of Shares subject to this Warrant (unless otherwise adjusted pursuant to Article 2 hereof) will not exceed 54,642. Regardless of any adjustments to the number of
Shares subject to this Warrant made under this Article 1.7, all Shares subject to this Warrant will be of the same series and class and bearing the same rights, preferences, and privileges as the class of stock denoted in the above caption hereto.

 ARTICLE 2. ADJUSTMENTS TO THE SHARES. 

2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on the Shares payable in common stock, or other securities,
then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares of record as of the date the
dividend occurred. If the Company subdivides the Shares by reclassification or otherwise into a greater number of shares or takes any other action which increase the amount of stock into which the Shares are convertible, the number of shares
purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant
Price shall be proportionately increased and the number of Shares shall be proportionately decreased. 

  
 3 

 2.2 Reclassification, Exchange, Combinations or Substitution. Upon any reclassification,
exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon exercise or conversion of this Warrant, the
number and kind of securities and property that Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event. Such an event shall include any automatic
conversion of the outstanding or issuable securities of the Company of the same class or series as the Shares to common stock pursuant to the terms of the Company’s Articles or Certificate (as applicable) of Incorporation upon the closing of a
registered public offering of the Company’s common stock or otherwise. The Company or its successor shall promptly issue to Holder an amendment to this Warrant setting forth the number and kind of such new securities or other property issuable
upon exercise or conversion of this Warrant as a result of such reclassification, exchange, substitution or other event that results in a change of the number and/or class of securities issuable upon exercise or conversion of this Warrant. The
amendment to this Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of
securities or property issuable upon exercise of the new Warrant. The provisions of this Article 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events. 

2.3 Adjustments for Diluting Issuances. The number of shares of common stock issuable upon conversion of the Shares, shall be subject
to adjustment, from time to time in the manner set forth in the Company’s Articles or Certificate of Incorporation as if the Shares were issued and outstanding on and as of the date of any such required adjustment. 

2.4 No Impairment. The Company shall not, by amendment of its Articles or Certificate (as applicable) of Incorporation or through a
reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this
Warrant by the Company in a manner that treats Holder materially differently than the holders of the Company’s Series A Preferred Stock. 

2.5 Fractional Shares. No fractional Shares shall be issuable upon exercise or conversion of this Warrant and the number of Shares to
be issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder the amount computed by
multiplying the fractional interest by the fair market value of a full Share. 
 2.6 Certificate as to Adjustments. Upon each
adjustment of the Warrant Price, the Company shall promptly notify Holder in writing, and, at the Company’s expense, promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer or other senior
executive officer of the Company setting forth such adjustment and the facts upon which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof
and the series of adjustments leading to such Warrant Price. 

  
 4 

 ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 

3.1 Representations and Warranties. The Company represents and warrants to Holder as follows: 

(a) The Company most recently sold and issued shares of its Series A Preferred Stock at a per share price of $1.37255. 

(b) All Shares issuable upon exercise of this Warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon
issuance in accordance with this Warrant and the Company’s Certificate of Incorporation, as applicable, be duly authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer
provided for herein or under applicable federal and state securities laws. 
 (c) The Company’s summary capitalization table provided
to Holder is true and complete in all material respects as of the Issue Date. 
 3.2 Notice of Certain Events. If the Company
proposes at any time (a) to declare any dividend or distribution upon any of its stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for sale any shares of the
Company’s capital stock (or other securities convertible into such capital stock), other than (i) pursuant to the Company’s stock option or other compensatory plans, (ii) in connection with commercial credit arrangements or
equipment financings, or (iii) in connection with strategic transactions for purposes other than capital raising; (c) to effect any reclassification or recapitalization of any of its stock; (d) to effect an Acquisition or liquidate,
dissolve or wind up the Company; or (e) offer holders of registration rights the opportunity to participate in an underwritten public offering of the Company’s securities for cash, then, in connection with each such event, the Company
shall give Holder: (1) at least 10 days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of common stock will be entitled
thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) and (b) above; (2) in the case of the matters referred to in (c) and (d) above at least 10 days’ prior written notice of
the date when the same will take place (and specifying the date on which the holders of common stock will be entitled to exchange their common stock for securities or other property deliverable upon the occurrence of such event); and (3) in the
case of the matter referred to in (e) above, the same notice as is given to the holders of such registration rights. The Company will also provide information requested by Holder reasonably necessary to enable Holder to comply with
Holder’s accounting or reporting requirements. 
 3.3 Registration Under Securities Act of 1933, as amended. The Company agrees
that the shares of common stock of the Company issued or issuable in respect of the Shares will have certain “piggyback” registration rights pursuant to and as set forth in the Company’s Investors’ Rights Agreement (as amended
from time to time, the “Investors’ Rights Agreement”). The provisions set forth in the Investors’ Rights Agreement relating to the above in effect as of the Issue Date may not be amended, modified or waived without the prior
written consent of Holder unless such amendment, modification or waiver affects the rights associated with the Shares in the same manner as such amendment, modification, or waiver affects the rights associated with all other shares of the same
series and class as the Shares issuable upon exercise of this Warrant. 
 3.4 No Shareholder Rights. Except as provided in this
Warrant, Holder will not have any rights as a shareholder of the Company until the exercise of this Warrant. 

  
 5 

 ARTICLE 4. REPRESENTATIONS, WARRANTIES OF HOLDER. Holder represents and warrants to the Company as
follows: 
 4.1 Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder will
be acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that Holder has not been formed for the specific purpose
of acquiring this Warrant or the Shares. 
 4.2 Disclosure of Information. Holder has received or has had full access to all the
information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from
the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort
or expense) necessary to verify any information furnished to Holder or to which Holder has access. 
 4.3 Investment Experience.
Holder understands that the purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic
risk of such Holder’s investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant
and its underlying securities and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character,
business acumen and financial circumstances of such persons. 
 4.4 Accredited Investor Status. Holder is an “accredited
investor” within the meaning of Regulation D promulgated under the Act. 
 4.5 The Act. Holder understands that this Warrant and
the Shares issuable upon exercise or conversion hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Holder’s investment intent
as expressed herein. Holder understands that this Warrant and the Shares issuable upon any exercise or conversion hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or
unless exemption from such registration and qualification are otherwise available. 
 4.6 MARKET STAND-OFF AGREEMENT. Lock-Up
Period; Agreement. Holder agrees upon request of the Company or the underwriters managing any underwritten offering of the Company’s securities not to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise
dispose of any securities of the Company, however or whenever acquired (other than those included in the registration) without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to exceed
180 days) from the effective date of such registration as may be requested by the Company or such managing underwriters and to execute an agreement reflecting the foregoing as may be requested by the underwriters in connection with such offering;
provided that such period may be extended for such additional periods as may be required to facilitate the underwriters’ compliance with NASD Conduct Rule 2711. The obligations described in this

  
 6 

 
Article 4.6 shall apply only if all officers and directors of the Company and all five percent (5%) securityholders enter into similar agreements, and shall not apply to the sale of any
shares to an underwriter pursuant to an underwriting agreement entered into by the Company and Holder, to a registration relating solely to employee benefit plans, or to a registration relating solely to a transaction pursuant to Rule 145 under the
Securities Act. In order to enforce the foregoing covenants, the Company may impose stop-transfer instructions with respect to the securities held by Holder. 

ARTICLE 5. MISCELLANEOUS. 
 5.1 This
Warrant is exercisable in whole or in part at any time and from time to time on or before the Expiration Date. 
 5.2 Legends. This
Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may be imprinted with legends in substantially the following forms: 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR
THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW
OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND
NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR, SUBJECT TO SECTION 5.3 OF THE WARRANT TO PURCHASE STOCK
PURSUANT TO WHICH THE SHARES REPRESENTED BY THIS CERTIFICATE WERE ISSUED, AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE COMPANY OTHERWISE
SATISFIES ITSELF THAT SUCH TRANSACTION IS EXEMPT FROM REGISTRATION. 
 5.3 Compliance with Securities Laws on Transfer. This Warrant
and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part without compliance with applicable federal and
state securities laws by the transferor and the 

  
 7 

 
transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company).
The Company shall not require Silicon Valley Bank (“Bank”) to provide an opinion of counsel if the transfer is to Bank’s parent company, SVB Financial Group (formerly Silicon Valley Bancshares), or any other Affiliate of Bank.
Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of current information as referenced in Rule 144(c), Holder represents that it has complied with Rule 144(d) and
(e) in reasonable detail, the selling broker represents that it has complied with Rule 144(f), and the Company is provided with a copy of Holder’s notice of proposed sale. 

5.4 Transfer Procedure. After receipt by Bank of the executed Warrant, Bank will transfer all of this Warrant to SVB Financial Group by
execution of an Assignment substantially in the form of Appendix 2. Subject to the provisions of Article 5.3 and upon providing the Company with written notice, SVB Financial Group and any subsequent Holder may transfer all or part of this Warrant
or the Shares issuable upon exercise of this Warrant (or the Shares issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee, provided, however, in connection with any such transfer, SVB Financial Group or any
subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to the Company for reissuance to the
transferee(s) (and Holder if applicable). The Company may refuse to transfer this Warrant or the Shares to any person who directly competes with the Company, unless, in either case, the stock of the Company is publicly traded. 

5.5 Notices. All notices and other communications from the Company to Holder, or vice versa, shall be deemed delivered and effective
when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company or Holder, as the case may (or on the first business day after transmission by facsimile) be, in
writing by the Company or such Holder from time to time. Effective upon receipt of the fully executed Warrant and the initial transfer described in Article 5.4 above, all notices to Holder shall be addressed as follows until the Company receives
notice of a change of address in connection with a transfer or otherwise: 
 SVB Financial Group 

Attn: Treasury Department 

3003 Tasman Drive, HA 200 

Santa Clara, CA 95054 

Telephone: 408-654-7400 

Facsimile: 408-496-2405 
 Notice
to the Company shall be addressed as follows until Holder receives notice of a change in address: 
 APPTIO, INC. 

Attn: Kurt Shintaffer 

10900 NE 4th Street 

Bellevue, WA 98004 

Telephone: 425-453-5861 

Facsimile: 425-453-1403 

  
 8 

 5.6 Waiver. This Warrant and any term hereof may be changed, waived, discharged or
terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 

5.7 Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the
party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

5.8 Automatic Conversion upon Expiration. In the event that, upon the Expiration Date, the fair market value of one Share (or other
security issuable upon the exercise hereof) as determined in accordance with Article 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be converted pursuant
to Article 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised or converted, and the Company shall promptly deliver a certificate representing the Shares (or such other securities) issued upon
such conversion to Holder. 
 5.9 Counterparts. This Warrant may be executed in counterparts, all of which together shall constitute
one and the same agreement. 
 5.10 Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the
State of Delaware, without giving effect to its principles regarding conflicts of law. 
 [Signature page follows.] 

  
 9 

									
	“COMPANY”	 		 	Date: 11/03/08
			
	APPTIO, INC.	 		 	
					
	By:	 	/s/ Sachin Gupta	 		 	By:	 	/s/ Kurt Shintaffer
	Name:	 	 Sachin Gupta
	 		 	Name:	 	Kurt Shintaffer 
		 	(Print)	 		 		 	(Print)
	Title:	 	 Chairman of the Board, President or
 Vice
President
	 		 	Title:	 	Chief Financial Officer, Secretary, Assistant Treasurer or Assistant Secretary

  

			
	 “HOLDER”
  

SILICON VALLEY BANK

		
	By:	 	/s/ Geir B. Hansen
	Name:	 	 Geir B. Hansen

		 	(Print)
	Title:	 	SRM

 APPENDIX 1 

NOTICE OF EXERCISE 

1. Holder elects to purchase
                     shares of the Common/Series
                     Preferred [strike one] Stock of APPTIO, INC. pursuant to the terms of the attached Warrant, and tenders payment of the
purchase price of the shares in full. 
 [or] 

1. Holder elects to convert the attached Warrant into Shares/cash [strike one] in the manner specified in the Warrant. This conversion is
exercised for                      of the Shares covered by the Warrant. 

[Strike paragraph that does not apply.] 

2. Please issue a certificate or certificates representing the shares in the name specified below: 

 

	
	 
	Holders Name
	
	 
	
	 
	(Address)

 3. By its execution below and for the benefit of the Company, Holder hereby restates each of the
representations and warranties in Article 4 of the Warrant as the date hereof. 
  

			
	HOLDER:
	
	 
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 
		
	(Date):	 	 

 APPENDIX 2 

ASSIGNMENT 
 For value received,
Silicon Valley Bank hereby sells, assigns and transfers unto 
  

					
		 	 Name:
	  	SVB Financial Group
		 	 Address:
	  	3003 Tasman Drive (HA-200)
		 		  	Santa Clara, CA 95054
			
		 	 Tax ID:
	  	91-1962278

 that certain Warrant to Purchase Stock issued by APPTIO, INC. (the “Company”), on October 31, 2008 (the
“Warrant”) together with all rights, title and interest therein. 
  

			
	SILICON VALLEY BANK
		
	By:	 	/s/ Geir B. Hansen
	Name:	 	Geir B. Hansen
	Title:	 	SRM

 Date: November 5, 2008 

By its execution below, and for the benefit of the Company, SVB Financial Group makes each of the representations and warranties set forth in Article 4 of the
Warrant and agrees to all other provisions of the Warrant as of the date hereof. 
  

			
	SVB FINANCIAL GROUP
		
	By:	 	 
		
	Name:	 	 
		
	Title:

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